Video instructions and help with filling out and completing Form 843 Stocks

Instructions and Help about Form 843 Stocks

In this video I want to run through some OTC filings for some of the OTC stocks that were on my watch list I've been reading a lot of filings related to companies that have done recent reverse splits listed stocks that have been doing reverse splits because that strategy requires understanding fundamental reasons why the company is doing the reverse split and now that I'm getting a little bit better understanding the filings and finding what kinds of things to look for with regards to financing or just how to read their balance sheet um I decided I should look into ot sees that I would possibly have been trading in the future and just see if there's anything that would keep me away from trading them so this first stock I'm going to talk about is M LTC this one made a big run from 6 cents to like 35 cents a couple days ago and then it's pulled back this is one that I would be looking for it to pull back in solid 8 and break out again to higher levels and let's take a look at some of their filings so this is OTC Markets comm this is where I'll go to read filings for OTC stocks and let's take a look at their 10 Q that's the record quarterly report the first thing to know is that they have about a hundred thousand sorry 100 million shares outstanding they've got five thousand five hundred dollars in cash and so a lot of times these balance sheets will say up here near the top of the balance sheets table that the numbers are in thousands in this case it doesn't say that so this is the actual number they've got $5,000 in cash they've got a hundred thousand dollars in current liabilities and so their total shareholders deficit is negative 96 thousand dollars and I think that's the main thing I wanted to see out of here so so far it doesn't look too good you know they don't really have any income they have a lot of debt and very little cash so this form 1012 G amended I'm just gonna do a quick search here so I can show you what I found that really turned me off on this company says this company is a blank check company at present the company is a development stage company with no revenues no assets and no specific business plan or purpose the company's business plan is to seek new business opportunities or engage in a merger or acquisition with an unidentified company as a result the company is a blank cheque company and then just a few paragraphs later we are a shell company as is defined in rule 405 so this is just a straight up shell company I mean they say right here in their filing they have no revenue no asset no business plan no purpose I'm not gonna trade this company now like I know OTCs are generally sketchy companies that are on their way down this isn't even a company this is just nothing so that one is off my watch list now well the next one is endless and mus so you can see that this stock has been building up towards a breakout at this 55 to 60 cent level it's pretty choppy it's definitely not ideal but I was I had it on my secondary watch list to possibly play it let's get into this filing here so we see in company profile Nima's Biosciences a biopharmaceutical biopharmaceutical company that plans to develop and commercialize therapeutics from cannabinoids so they're a weed company and let's look at their most recent filing this SC 13 D amended from February 4th just scrolling down here real quick it looks like they got some sort of loan for twenty million dollars and as part of that there are some convertible shares it looks like five million shares of common stock at a fixed conversion price of 40 cents per share and warrants of two and a half million shares of common stock that can be converted an exercise price of 50 cents per share so they've got convertible debt here in the 50 Cent's and 40 cent range that was from February 4th and so you know it's possible that they've already exercised that but you know I don't know and that's enough to just keep me away from this play with that combined with just how choppy and non-ideal this play is I'm just not even gonna watch it the next one is khr in F so you can see that this one I had this breakout over this like all-time high here a couple weeks ago I set this new high at around 240 pulled back and it's been consolidating since then I mean this this top chart is a daily chart this bottom one is a 60 5 minute chart an hourly chart basically I'll but you can see that it's it's building back up towards a breakout um so I was I was watching it for that breakout so let's see what their filings say back to OTC markets it's ok Shar enough this is another medical cannabis company and let's look at their quarterly report I want to take a look at their balance sheet so they've got like fourteen point seven million cash liabilities like a little under 2 million liabilities notice it says something about warrants here seven million dollars shareholders equity looks good as seventeen million dollars it's positive so that's a good thing let's keep going down and I look at this part here cash used in financing activities also okay net loss for the period for operating activities net cash used in operating activities nearly eleven million dollar loss from operating their business and then financing so proceeds from issuance of private placements nine hundred thousand proceeds from

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