OnceBurned
2 days ago
Porch: You still must be learning about toxic debt. Unlike normal convertible notes and warrants, where share conversions are fixed and limited, in toxic debt the shares are variable and increase dramatically as the stock's price goes down. The IGOR Note, if I recall, was amended to give the holder the right to convert debt at 85% (or 80%) of the average stock price for the past 20 days. Let's just assume that the conversion price today is 0.0001 (actually it is probably lower, because the stock is bouncing below 0.0001 a lot). At a $6,000,000 note balance due, assuming a conversion price of $0.0001/sh, this means the holder can convert to 6,000,000/0.0001 shares or 60,000,000,000 shares (that's 60 Billion shares). Sixty billion shares is 400% of the current balance of unissued shares of the company. And remember, the IGOR Note is earning interest, since GTCH isn't paying it down. I forgot the rate, but for example, 8% annual interest on a $6M debt is $480,000.
Surprised that the IGOR Note holder has a virtual infinite amount of shares left to draw down? The company's market capitalization--total value of all issued shares-- fluctuates between $800,000 to $1,600,000. The IGOR Notes balance due is $6,000,000 + accrued interest that can convert to shares at less than par. Think about that.
The only limit on the IGOR Note is the cap on ownership of 5% of the company's issued shares. But as the issued shares increase quickly (by conversion and dumping), so do the number of shares the IGOR Note holder is able to draw down by conversion of debt without breaching the 5% cap (assuming he dumps his shares regularly).
How safe is it for naked shorters to borrow 100,000,000 shares at $0.0001 hoping to cover quickly at a lesser price? Pretty damn safe if you know the IGOR Note holder just drew down 300,000,000 shares at a sub-0.0001 conversion price and wants to dump those shares immediately.
GTCH has to find some cash, probably from a sale of a patent, to payoff the hyper-toxic IGOR Note. It is that simple.
bucks2pennies
2 days ago
GTCH SHs have to understand that the competition out there is VERY competitive in the chip industry but also in the AI assist in the medical field. Today, Samsung purchased Sonio for a mere $92 million in the AI assist in the medical arena. While Sonio is very focused on one element, still the price seemed cheap.
On the other hand, it was GOOD to see Samsung is diversifying into the medical field as well as chip manufacturing in its conglomerate of holdings covering so many other fields as well. This new development, seems to me, still holds GTCH as a viable purchase as well due to its AI, chip and now, medical applications.
Porch Honkey
3 days ago
Not going anywhere anytime soon, too much corruption going on.
GTCH)
Naked Short Interest
GTCH
- Short Volume Report (REGSHO)
All RegSho Dated reported by: FINRA
Historical Short Volume Data for GTCH
Date Close High Low Volume Short Volume % of Vol Shorted
May 06 NA NA NA 5,791,399 4,790,199 82.71
May 03 NA NA NA 6,730,349 3,996,459 59.38
May 02 NA NA NA 4,047,500 2,917,500 72.08
May 01 NA NA NA 1,027,000 900,000 87.63
Apr 30 NA NA NA 2,752,450 2,752,450 100.00
https://www.otcshortreport.com/company/GTCH
canthelpit
4 days ago
GTCH MARYLAND ,,, typicaly i would agree with you but i was keeping an eye on the market cap and it held in the 856k range untill we hit a trip2 bid then went up,,, When it went back to trip 1 it dropped to 856k again,, maybe a numbers game i mean if you follow the other 2 (avai & bnix ) you can see the numbers not making any sence,,, a ticker with no trades for the day and then 1 trade and it jumps pennies ??? alot of things with theese 3 tickers dont make any sence,, theese 30 mil deals are a joke and only buying them time ,, for what we will find out soon i hope !! GLTA
marylandstockguy
4 days ago
Agreed. Government contracts would be nice, but it's also interesting to see it in the health care arena.
For better or worse (sadly, I feel it's worse), assisted living facilities are an enormous business in the U.S. Just look at how assisted living facilities looked in the 1970's and 1980's, then look at them today. My mom's place looks like she's living in a swanky condo building in a major city. Not only that, but the food is incredibly good, and they have activity directors that keep them busy all day doing different things. They don't just sit the residents in front of a TV all day watching soap operas anymore. The whole thing has changed - they do have a movie night every night at 6:30 in my mom's place, but it's like a mini-theater. As a result, believe me, these facilities ain't cheap.
If you get a foothold in assisted living facilities, you've got something.
OnceBurned
1 week ago
GTCH's quarterly filing (10-Q) for the first quarter of 2024 is due on May 15th. GTCH nowadays seems to claim "inability to file on time " for each required filing, so look for the filing toward the end of May. With all the annual 2023 stuff washed out of the report (that made the annual 10-K so hard to wade through regarding current status), we might actually learn a bit about what is going on. First, does GBT Tokenize, of which GTCH is a 50% owner, hold 13,000,000 shares of AVAI or not? If so, those shares are beyond the lock-up period and can be sold over time, though not quickly dumped. Sale proceeds could be used to pay down holder of super-uber-toxic IGOR Note, if GTCH gave a rat's @ss about shareholders (and its own continuing viability).
Second, does GTCH monitor whether the holder of the IGOR Note ever holds more than 5% of the common shares of the company (which would be a default by the holder of the IGOR Note, and an SEC violation unless the holdings were reported). Given how the note holder has abused the company and its retail shareholders---pulling down and dumping over 6,000,000,000,000 shares in 2023 alone--you would think this would be a concern of decent management. Don't want to get your hopes up--the 10-Q will be silent on this regard. This question is extremely "material" to me, as it goes to the heart of the issue of downwards manipulation of GTCH's share price, but it is probably considered immaterial to GTCH's management and auditors!
At this point, just be glad that GTCH's auditors aren't BF Borgers, the auditors for Trump Social. Check the news today.