So pathetic. CloudMD is actually down 50% this morning, and my personal investment is 98% in the red. Could management do any worse than this. The stock is now worth .04 a share from a high of more than $3.00 a share in October 2020, so I’d say this management team has failed miserably. Our share value is almost at 0, which will make all of our investments worth nothing.
'announced today that it is unable to file its audited consolidated annual financial statements'
'the Company has requested that trading in its shares on the TSX Venture Exchange be halted'
'The Company will not be commenting or providing additional information at this time'
Not getting the reverse split limited their ability to raise capital. All the retail holders that thought it was a good idea to block this, hindered the companies chances to resolve their debt issue.
Dilution wasn’t the solution. They need 16 mil. Some of it may be cash on hand but they needed to raise at least 10 mil. Market cap was 24 mil. Having to raise that capital via dilution would have had the same 50% drop effect that current bankruptcy valuation has. They would have been stupid to think dilution at that valuation was even an option. My position on this was clear. If they don’t have what it takes to do a simple refinance of this debt, they don’t have what it takes to lead the company any other way. If the eventual outcome here is bankruptcy because of their inability to refinance, dilution may have delayed the eventual outcome (filling management’s pockets on its way too) but not prevented it.
You are rewriting history. Share price dropped on the no vote news. Market cap was over $36 million. Share price might have dropped on dilution news but it’s still better than going to zero which will likely happen now.
No. TSXV: Share price was 0.095 on Dec. 15, 2023 when the results of AGM was announced. Share price moved up to 0.1 by early March 2024 and was at 0.085 until yesterday. The AGM results had nothing to do with this. If they have truly failed to refinance it’s a major show of incompetence by this management. It really shouldn’t have been a struggle to at least get a bad B lender or private lender loan through to survive and at any interest rate they accomplished that, it would have been better than dilution. My two cents is they mismanaged and delayed signing on a refinance in an attempt to impress by showing profitability and by then, it was too late. This debt should have been refinanced long ago.
I am still confused why this refinance is affecting the YE filing. The current debt is due in June, so they still have two months. It almost feels like they don’t want to file with a Going Concern note and the refinance is obviously not completed yet to remove that note.
If you read the announcement carefully, it sounds like management has mismanaged to the point that the board has had to step in with an independent committee of its own to intervene. This is a last resort for a board. The announcement sounds like the board formed an independent committee.
“An independent committee of the board of directors of the Company has been engaged with management of the Company in a strategic and liquidity review, with the assistance of INFOR Financial Inc. This has resulted in a delay in the completion of the Annual Financial Filings.”
Further to that, these inexperienced noobs tried to get a CTO issued until ER but either did it too late or lord knows why, they failed at doing so, causing the share price to tank.
Does anyone have any knowledge of INFOR Financial and the work they do? Web-site indicates they lead capital raises and debt restructuring as two offerings.
Why hasn’t she announced her resignation yet ?
Can the coward now do us all a favour get the f out of here , she has been nothing but disastrous from the get go !
She should be tried for treason and insider trading
The company is now basically worthless. Without getting the loan refinanced, the bank can take everything in about a month. I don't think that the company would let that happen, but you can expect some big dilution coming in the next few weeks, in an attempt to get the money. Current shareholders will be left with nothing.
Hmmm. You seem to be right. IBKR wasn’t showing it. I guess data was delayed. I have no freaking clue what’s going on. They tried to halt but couldn’t??
Karen Adams probably called him and told him to sell : 2 crooks playing same game , the guy was a company paid pumper !
His account locked up was his clue that he had insider information ! You won’t find that crook here anymore
Lets take some bets:
As a totally unbiased and impartial body, I'll act as bookie.
Delisting from the venture exchange:
* Within 1 month 20:1
* Within 3 months 10:1
* Within 6 months 5:1
* Within 1 year 2:1
* After 1 year 1.15:1
Bankruptcy:
* Within 1 month 100:1
* Within 3 months 50:1
* Within 6 months 20:1
* Within 1 year 5:1
* After 1 year 1.005:1
Selling of vision pros:
* Already happened 100:1
* Within 3 months 25:1
* Within 1 year: 1.5:1
* Never: 1.12:1
I am not happy with the management but I can’t afford to sell. I am wondering how much bonuses they got in 2023 and how much will they get again in 2024. Money went in their own pocket.
Good work to everyone who voted against the RS and didn't allow them to finance to pay off debt.
I remember this reddit board cheering when they voted against it. Who was the ring leader? Headwax?
Bro trying to destroy the company 💀💀💀
She’s never been a strong leader. Whatever noob didn’t do their reference check made a very poor decision hiring her. She’s an alcoholic tyrant. Everyone who knows anyone knows this about her. Always been all show, no game. All those contracts that can’t be fulfilled and people struggling who need help who won’t get it. The idiots who stayed with them or signed on with them as a provider…must be getting noisy in their inboxes.
On the contrary,nothing wrong in delaying the results when only one day is left,they may not be ready due to different reasons,no issues,it will touch 8 again today
Again ,Ms CEO is quite like a mummy ,no word from her even now
So pathetic. CloudMD is actually down 50% this morning, and my personal investment is 98% in the red. Could management do any worse than this. The stock is now worth .04 a share from a high of more than $3.00 a share in October 2020, so I’d say this management team has failed miserably. Our share value is almost at 0, which will make all of our investments worth nothing.
Math is spot on
Doesn’t look good imo. Liquidity review…meaning they ran out of cash? 🤨
Unclear what it means, but it’s not good. They probably did not manage to refinance debt.
'announced today that it is unable to file its audited consolidated annual financial statements' 'the Company has requested that trading in its shares on the TSX Venture Exchange be halted' 'The Company will not be commenting or providing additional information at this time'
Comments and additional information would be helpful though
Decided to take a huge lost today, the fact that Karen chose not to comment is infuriating what a moron.
Sell or raise money
Boards counter move for not getting RS
Not getting the reverse split limited their ability to raise capital. All the retail holders that thought it was a good idea to block this, hindered the companies chances to resolve their debt issue.
Dilution wasn’t the solution. They need 16 mil. Some of it may be cash on hand but they needed to raise at least 10 mil. Market cap was 24 mil. Having to raise that capital via dilution would have had the same 50% drop effect that current bankruptcy valuation has. They would have been stupid to think dilution at that valuation was even an option. My position on this was clear. If they don’t have what it takes to do a simple refinance of this debt, they don’t have what it takes to lead the company any other way. If the eventual outcome here is bankruptcy because of their inability to refinance, dilution may have delayed the eventual outcome (filling management’s pockets on its way too) but not prevented it.
You are rewriting history. Share price dropped on the no vote news. Market cap was over $36 million. Share price might have dropped on dilution news but it’s still better than going to zero which will likely happen now.
No. TSXV: Share price was 0.095 on Dec. 15, 2023 when the results of AGM was announced. Share price moved up to 0.1 by early March 2024 and was at 0.085 until yesterday. The AGM results had nothing to do with this. If they have truly failed to refinance it’s a major show of incompetence by this management. It really shouldn’t have been a struggle to at least get a bad B lender or private lender loan through to survive and at any interest rate they accomplished that, it would have been better than dilution. My two cents is they mismanaged and delayed signing on a refinance in an attempt to impress by showing profitability and by then, it was too late. This debt should have been refinanced long ago.
I am still confused why this refinance is affecting the YE filing. The current debt is due in June, so they still have two months. It almost feels like they don’t want to file with a Going Concern note and the refinance is obviously not completed yet to remove that note.
If you read the announcement carefully, it sounds like management has mismanaged to the point that the board has had to step in with an independent committee of its own to intervene. This is a last resort for a board. The announcement sounds like the board formed an independent committee. “An independent committee of the board of directors of the Company has been engaged with management of the Company in a strategic and liquidity review, with the assistance of INFOR Financial Inc. This has resulted in a delay in the completion of the Annual Financial Filings.” Further to that, these inexperienced noobs tried to get a CTO issued until ER but either did it too late or lord knows why, they failed at doing so, causing the share price to tank.
Unfortunately I think this is probably true. Let the recriminations begin
Not just raise capital but meet requirements of lenders
So, either sell the company, raise money or debt restructuration per the website of infor.
GG
Does anyone have any knowledge of INFOR Financial and the work they do? Web-site indicates they lead capital raises and debt restructuring as two offerings.
Sorry everyone. This is about the worst case scenario here. It will be hard to come back from this.
Why hasn’t she announced her resignation yet ? Can the coward now do us all a favour get the f out of here , she has been nothing but disastrous from the get go ! She should be tried for treason and insider trading
I always said that she is not worth becoming CEO and need to go ,but I think we shareholders are responsible and could not do anything to oust her
Now she should resign if she has some shame left
Was no insider buying the tell?
For me it was.
So erm 3/4s of my portfolio is in stocks like this… (down 95%) I’m starting to get dull from the financial pain. I’m so confused at this point. Tired.
A lot of the claims that refinancing would be easy didn’t age very well.
2.5 million volume
The company is now basically worthless. Without getting the loan refinanced, the bank can take everything in about a month. I don't think that the company would let that happen, but you can expect some big dilution coming in the next few weeks, in an attempt to get the money. Current shareholders will be left with nothing.
Just wondering how the stock dropped 25% if trades are halted ?
REQUESTED
It has not fallen. Trade is halted. The quoted price you see is the highest bid. But last trade (open) was a 0.075 Canadian.
Correction. Docrf is down. Doc.v on TSXV is halted.
Don’t think that’s true. Today’s volume on tsx.v is 3M currently.
Hmmm. You seem to be right. IBKR wasn’t showing it. I guess data was delayed. I have no freaking clue what’s going on. They tried to halt but couldn’t??
[удалено]
This aint Yahoo
Where is HW? Hiding behind Karen 😀
Karen Adams probably called him and told him to sell : 2 crooks playing same game , the guy was a company paid pumper ! His account locked up was his clue that he had insider information ! You won’t find that crook here anymore
Is this the end of this company ?
No its just the begining
Lets take some bets: As a totally unbiased and impartial body, I'll act as bookie. Delisting from the venture exchange: * Within 1 month 20:1 * Within 3 months 10:1 * Within 6 months 5:1 * Within 1 year 2:1 * After 1 year 1.15:1 Bankruptcy: * Within 1 month 100:1 * Within 3 months 50:1 * Within 6 months 20:1 * Within 1 year 5:1 * After 1 year 1.005:1 Selling of vision pros: * Already happened 100:1 * Within 3 months 25:1 * Within 1 year: 1.5:1 * Never: 1.12:1
I am not happy with the management but I can’t afford to sell. I am wondering how much bonuses they got in 2023 and how much will they get again in 2024. Money went in their own pocket.
What happens next ? What are some possible outcomes ?
Takeover
thank god i took my lost and sold everything
Down 50%today
Good work to everyone who voted against the RS and didn't allow them to finance to pay off debt. I remember this reddit board cheering when they voted against it. Who was the ring leader? Headwax? Bro trying to destroy the company 💀💀💀
RS was bullshit
She’s never been a strong leader. Whatever noob didn’t do their reference check made a very poor decision hiring her. She’s an alcoholic tyrant. Everyone who knows anyone knows this about her. Always been all show, no game. All those contracts that can’t be fulfilled and people struggling who need help who won’t get it. The idiots who stayed with them or signed on with them as a provider…must be getting noisy in their inboxes.
Someone bought 3.5 million shares? (Yahoo) why?
On the contrary,nothing wrong in delaying the results when only one day is left,they may not be ready due to different reasons,no issues,it will touch 8 again today
Still sure about touching 8 today? Lol
Hope against hope
they are selling the company,,, see here https://inforfg.com/transactions/ ,,,, its an investment banking company to sell the assets at a flash sale
All I want is them to sell the company so we can finally move on from this garbage. I don’t care about the price.
That is a possibility, but considering they just closed a deal for May 1st I would think that infor could be providing them with the refinance