Today marks the start of the 16th trading session since Global Equity International Inc. (OTC PINK: GEQU) scraped the bottom of their share price and it comes on the heels of some bullish comments made by the Company’s management team. After what was said to have been five long years to get to a point where operations appear to be functioning properly, GEQU stock has grown almost n tandem with the management and corporate consultancy firm which now has their main headquarters in Dubai and four people under employment in London who deal with new business, client management and relations. If the recent run from .0009 to yesterday’s HOD of .0026, 189%, is any indication that traders feel bullish, the update regarding the SS and what deals are looking to happen may just unleash this mini-beast for another week of upticking.
A couple of the members from DDAmanda mentioned that GEQU stock had appeared to have bottomed out a couple of weeks ago, but without any news or updates since the Company filed their 10Q back in May, gauging whether or not the bounce was a warranted one was a difficult task. The Q filing for the three months ended March 31, 2015 was nothing to brag about with revenues coming in at just $15,000, a net loss of $(795,820), and current liabilities nearly 30X the $101,000 worth of total assets on the books.
It just goes to show you how sophisticated their scanning software is since foresight, unlike foreskin, is a good thing to have.
Yesterday, Global equity International filed both a Form 4 for CFO Enzo Taddei, as well as an 8K outlining how he and CEO Peter J. Smith each converted $98,000 of debt owed to each of them into 126,451,613 restricted shares of GEQU stock ($.000775 per share). Because the conversion was meant to be calculated at 50% the 10 day average closing price, this could be a factor as to why GEQU shares had bottomed out.
The net result of the debt conversion now bring the total number of shares issued and outstanding to 412,860,955, 253 million or so which are owned by Taddei and Smith. That means that in yesterday’s mini bump upwards, less than 30% of the float was exchanged while GEQU shares rose almost 37% on the session.
The catalyst that could very well push GEQU stock up into the 3’s and even 4’s also comes from the 8K filed yesterday which updated shareholders, not only of what events took place, but what’s due to occur in the comings weeks/months. After the initial blah, blah, blah portion of the update, the Company points out how their wholly-owned subsidiary, Global Equity Partners Plc, has 19 clients under its belt which could earn them up to 10% cash success fees for the services they provide them: introduction of Pre-IPO funding. An additional 10% equity success fee could also be earned if and when these clients get listed onto a recognized stock exchange with their between $10 million and $250 million valuations.
Further to the explanation, GEQU pointed out how the share price had been hit (damaged was the word they used) and how they made efforts to exhaust their cash flow to pay off as much of the debt on their books that they could to avoid any further dilution triggers. It seems that there are still working on two other notes totaling $35,000 that are still being converted and will likely hit the float. The lesson has apparently taught management that when someone comes knocking offering funds for operations, turning them down is better than turning down pre-existing retail bagholders.
Although the news hasn’t hit any PR wires as of yet, the inside knowledge from the 8K filings of what management has done and intends to do could be enough encouragement to keep the green upticks coming for the foreseeable future. With today being a Friday and all, the late afternoon shoppers with the guts to hold over the weekend could eventually be the biggest winners who aren’t already in GEQU.
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