The complaint in that lawsuit reads accurately to me. With all of those warrants in place, the family of the CEO gets majority ownership in the company while the common shareholders have been wiped out.
Let's do the math and see if TOPS is a good investment May 1st you buy 1,000,000 shares May 11th a 1 for 20 reverse split Now you have 50,000 shares June 23rd a 1 for 15 reverse split Now you have 3,333 shares Aug 3rd a 1 for 30 reverse split Now you have 111 shares At today's close your shares are valued at $147.63
I see that Gamer has deleted all of his posts again. He slams other people for telling him not to buy TOPS, and then he hides his insults instead of owning them.
Here is my take on the share issue:
This is as at July
TOP Ships Inc. (the "Company") announced today that since July 14, 2017 it has issued and sold 1,299,401 common shares par value $0.01 per share pursuant to its previously announced purchase agreement by and among the Company and Kalani Investments Limited dated February 2, 2017, as amended (the "Purchase Agreement"). As of the date hereof, up to $6.3 million worth of shares is remaining that the Company may sell pursuant to the Purchase Agreement. Mainly as a result of these issuances the Company currently has issued and outstanding 1,925,000 shares. Also, as of the date hereof, the Company has 4,325 Series C convertible preferred shares outstanding.
If "Gamer" really had the holdings he claimed, he is currently being gutted. I doubt we will hear from him. He said his cost basis was $1.37 per share, but he always deletes his posts.
• Gamer 16 hours agoReplied to a reaction DryShips Inc. I looked at most of the SEC fillings, and it is the reason why I bought TOPS. My average is 1.37/share 350k shares total. I gambled with DRYS and I made 200k. I did not expected it I got it back this quick.
He claimed to own $500,000 in TOPS stock, and he claimed to have added another $50K or 50k shares.
I don't like to see people lose money, but he spread false rumors and wouldn't listen to anyone about the reality of TOPS.
The stock is down 9000:1 and you think shorting is criminal?
Newsflash: shorting this stock made some people wealthy. If you're upset with someone, talk to the directors who paid themselves $1.5 million bonuses when the company had no cash on hand. Then they borrowed money against Kalani to pay for things.
Shoot, this company just borrowed another $3 million last month. They borrow money often, and in amounts which look to be covering monthly operations.
For anyone who would like to get rewarded, write to SEC and expose Kalani and other Gangs manipulating and Naked shorting the stock. You will get handsomely rewarded, I'm convinced what is going on here is JUST NAKED SHORTING.
You would think that regaining listing compliance would be a good thing. You would also think that Kalani only having $3m more to sell would also be a good thing but now that they have a clean slate on compliance, what will keep Kalani from selling it back down to .20?
Remember, they don't have to try to support the price anymore. They can let it drop under $1 and not worry about delisting for at least 210 days. 30 days below, then 180 to cure the deficiency. That it will go under $1 seems inevitable. Might be another reverse split if it gets too low.
I check in on this once in a while just for laughs. This has to be up there with one of the biggest con jobs in history.
Today's price rise will force these crooks to convert their warrants
I feel bad to burst Gamer's bubble, but he has no idea of how to read an SEC filing.
As of June 30, 2017, upon exercise of 1,250,000 Warrants, Race Navigation would be issued 8,900,000 Common Shares. As of July 14, 2017, upon exercise of 1,250,000 Warrants, Race Navigation would be issued 15,575,000 Common Shares. As of August 8, 2017, upon exercise of 1,250,000 Warrants, Race Navigation would be issued 1,887,500 Common Shares.
"Would be issued" ---- not "Were issued"
These statements are issued after stock splits or material events.
After doing some research TOPS looked like a promising stock to get. But my 1,000 shares that a bought turned into 33.33 shares when they did the split. My 1,000 shares were worth about $300.00, now my 33.33 shares are worth $43.00. and on top of that there was a fee i had to pay when the split happened. FYI, TOPS is not a good buy right now. FYI, the stock market is a gamble with anything. Good luck.
Should I buy Tops? seems it going to split to $10😂
Daytraders go away. TOPS is not for you.
This stock was at 23 cents per share before the first of three reverse splits was announced.
So it's dropped from $2,070.00 per share to $1.22 as of this posting.