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Posted on 2/25/21 at 4:47 pm to Huey Lewis
quote:
I'll take...something a tech startup would probably want to do after merging with an OTC shell in order to qualify for being listed on NASDAQ
If I am not mistaken, this merger involved historical HUMBL getting about 20% of private equity, but being issued Preferreds that maintain control. We call those Super Preferreds. Now the nature and extent of the terms of those is a mystery in this case because we havent seen the merger, or the share agreement or articles of incorporation amendments (all required by their OTC status BTW). So this Company that cannot comply with OTC standards now has these preferred and NASDAQ does not allow such preferred instruments for their listings.
So that would have to be restructured.... which undoubtedly will result in some massive massive dilution (in best case scenario).
Again guys, not trying to be a jerk, but this is just getting a little stretched
Posted on 2/25/21 at 4:58 pm to slackster
quote:quote:
potential of 1:4 reverse split.
I’ll take things multi billion dollar companies never do for $100, Alex.
AT&T, Ericsson, Priceline, Citigroup, Laboratory Corp. of America, Biglari Holdings (Steak & Shake), AIG, Innovio Pharmaceuticals, Corrections Corp. of America all say HI.
Now that youve demonstrated your true lack of financial knowledge, why dont you just STFU and exit this thread
Posted on 2/25/21 at 5:12 pm to RobbBobb
quote:
AT&T, Ericsson, Priceline, Citigroup, Laboratory Corp. of America, Biglari Holdings (Steak & Shake), AIG, Innovio Pharmaceuticals, Corrections Corp. of America all say HI
Thanks for the list. Point still stands.
quote:
Now that youve demonstrated your true lack of financial knowledge, why dont you just STFU and exit this thread
Sorry you’ve been duped on TSNP.
Eta: most of your examples weren’t multi billion dollar companies when they executed those reverse splits by the way.
This post was edited on 2/25/21 at 5:20 pm
Posted on 2/25/21 at 5:15 pm to igoringa
quote:
massive dilution
Posted on 2/25/21 at 5:23 pm to zephry801
Sharp is talking about authorized shares, not outstanding shares. Getting to the nasdaq is going to likely require dilution as authorized shares get issued.
Posted on 2/25/21 at 5:25 pm to slackster
quote:
Sorry you’ve been duped on TSNP. ?
The only ones that are duped are the dumbasses that got into a volatile penny stock and sold as soon as it quit "rocketing". It is a long term play for those with the balls to hang in through the next year or so. For those that want a get rich quick stock, then go bet on GME.
Everything is on track.
Posted on 2/25/21 at 5:34 pm to Buck_Rogers
quote:
It is a long term play for those with the balls to hang in through the next year or so. For those that want a get rich quick stock, then go bet on GME.
Everything is on track.
Is buying a stock that’s already up like 9000%+ in half a year really a long term play? Serious question.
Posted on 2/25/21 at 5:39 pm to slackster
quote:
Is buying a stock that’s already up like 9000%+ in half a year really a long term play? Serious question.
I mean it could be, if you really fricking love tile
Posted on 2/25/21 at 5:44 pm to Vols&Shaft83
I cannot freakin wait to see who is right about this one 
Posted on 2/25/21 at 5:50 pm to Big_Slim
quote:
I cannot freakin wait to see who is right about this one
An individual stock can stay irrational for a long time - see GME. I’d be genuinely shocked if this a billion dollar company in a year.
Posted on 2/25/21 at 5:55 pm to Buck_Rogers
TSNP becomes TSNPD tmrw with a 1 for 4 reverse split. Then TSNPD becomes HMBL on March 26th.
Here's a Yahoo article explaining it in detail.
HUMBL, Inc. Completes Corporate Actions
HUMBL, Inc.
Thu, February 25, 2021, 4:00 PM
San Diego, CA, Feb. 25, 2021 (GLOBE NEWSWIRE) -- HUMBL, Inc. (OTCPINK: TSNP) (“HUMBL”), announced today that the Financial Industry Regulatory Authority (“FINRA”) has processed the company’s corporate actions, as requested, and has had its name changed to HUMBL, Inc.
In addition to the change in the company’s name, HUMBL has executed a one for four (1:4) reverse split of its common stock, and made other changes to its share structure, including the creation of restricted preferred classes of shares which will be issued to former members of HUMBL, LLC and prospective investors of HUMBL. The authorized number of shares stated reflects these preferred shares on a presumed fully diluted basis.
In discussion about the reverse split, HUMBL’s COO and Corporate Secretary, Jeffrey Hinshaw, stated, “The company’s Board of Directors concluded that it was important to quell the volatility in the share price. Prospective investors and current shareholders were concerned that it was difficult to pinpoint the true value of the common shares. Furthermore, this will force any outstanding short positions to cover their position. The board was also sympathetic to the need not to wipe out the holdings of the shareholders, and therefore determined that this small reverse split would satisfy both requirements.”
As a result of the reverse split, HUMBL’s stock symbol will change to “TSNPD” on February 25, 2021 and then to “HMBL” on March 26, 2021.
Yahoo Article
Here's what a 4 for 1 split looks like...
Here's a Yahoo article explaining it in detail.
HUMBL, Inc. Completes Corporate Actions
HUMBL, Inc.
Thu, February 25, 2021, 4:00 PM
San Diego, CA, Feb. 25, 2021 (GLOBE NEWSWIRE) -- HUMBL, Inc. (OTCPINK: TSNP) (“HUMBL”), announced today that the Financial Industry Regulatory Authority (“FINRA”) has processed the company’s corporate actions, as requested, and has had its name changed to HUMBL, Inc.
In addition to the change in the company’s name, HUMBL has executed a one for four (1:4) reverse split of its common stock, and made other changes to its share structure, including the creation of restricted preferred classes of shares which will be issued to former members of HUMBL, LLC and prospective investors of HUMBL. The authorized number of shares stated reflects these preferred shares on a presumed fully diluted basis.
In discussion about the reverse split, HUMBL’s COO and Corporate Secretary, Jeffrey Hinshaw, stated, “The company’s Board of Directors concluded that it was important to quell the volatility in the share price. Prospective investors and current shareholders were concerned that it was difficult to pinpoint the true value of the common shares. Furthermore, this will force any outstanding short positions to cover their position. The board was also sympathetic to the need not to wipe out the holdings of the shareholders, and therefore determined that this small reverse split would satisfy both requirements.”
As a result of the reverse split, HUMBL’s stock symbol will change to “TSNPD” on February 25, 2021 and then to “HMBL” on March 26, 2021.
Yahoo Article
Here's what a 4 for 1 split looks like...
This post was edited on 2/25/21 at 6:48 pm
Posted on 2/25/21 at 6:15 pm to zephry801
Did Sharp just say in that twitter the preferreds havent been issued to the LLC yet?
wow.
And the yahoo article effectively infers the same thing.
So to summarize:
1) Supposed multi billion Company wakes up, decides OTC shell is the way to go and voluntarily gives up 80% of common equity for a shell they could buy for $50 to 100K
2) Issue press release on December saying the deal was completed and closed - yet we find out today, the consideration (preferred) haven't even been designated yet, nevermind issued
3) We have no idea the terms of the preferred, what rights and privileges they have
4) No financials pre or post
5) No release of agreement
6) Warrants to Sharp who negotiated deal within 2 weeks at terms that vary in 4 different communications (and of course no agreement noted)
7) No patents for this new technology wizardry (although they trademarked some names). Revolutionary technology usually is littered with patents.
8) Reverse split to 'quell volatility' etc a few months after merger - a matter that a multi billion company would normally deal with in the months of planning of a merger... granted this was a 2 week exercise no consideration was even transferred.
This really is incredible.
wow.
And the yahoo article effectively infers the same thing.
So to summarize:
1) Supposed multi billion Company wakes up, decides OTC shell is the way to go and voluntarily gives up 80% of common equity for a shell they could buy for $50 to 100K
2) Issue press release on December saying the deal was completed and closed - yet we find out today, the consideration (preferred) haven't even been designated yet, nevermind issued
3) We have no idea the terms of the preferred, what rights and privileges they have
4) No financials pre or post
5) No release of agreement
6) Warrants to Sharp who negotiated deal within 2 weeks at terms that vary in 4 different communications (and of course no agreement noted)
7) No patents for this new technology wizardry (although they trademarked some names). Revolutionary technology usually is littered with patents.
8) Reverse split to 'quell volatility' etc a few months after merger - a matter that a multi billion company would normally deal with in the months of planning of a merger... granted this was a 2 week exercise no consideration was even transferred.
This really is incredible.
This post was edited on 2/25/21 at 6:34 pm
Posted on 2/25/21 at 6:26 pm to 98eagle
Since there is a change in the CUSIP, shorts will have to cover, in return stabilizing the price for real investors.
Posted on 2/25/21 at 6:33 pm to Buck_Rogers
What a frickin mess. Tomorrow will be wild.
Posted on 2/25/21 at 6:36 pm to igoringa
Sharp is AT, right?
Also seems to imply a dilution is a matter of when, not if.
Such a shame they didn’t take Humbl public via a SPAC where they, you know, actually raised cash.
Also seems to imply a dilution is a matter of when, not if.
Such a shame they didn’t take Humbl public via a SPAC where they, you know, actually raised cash.
Posted on 2/25/21 at 6:47 pm to Buck_Rogers
quote:
Since there is a change in the CUSIP, shorts will have to cover, in return stabilizing the price for real investors.
I believe that is only for naked shorts, but regardless, they can simply short the new cusip.
Posted on 2/25/21 at 7:02 pm to Big_Slim
quote:
I cannot freakin wait to see who is right about this one
I just hope it doesn’t get anchored. It has such potential. So many future bumps
Posted on 2/25/21 at 7:07 pm to slackster
quote:
Sorry you’ve been duped on TSNP
Once again, you are wrong. No surprise, really. I didnt buy TSNP, but was monitoring this thread to see if it was worth a risk
But you and TIMMY and Batman are purposefully fricking with AT with your own worthless opinions. We get it, you dont like this stock. We just dont need you to repeat that opinion on every single frickin page
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