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Taronis Technologies, Inc. (TRNX)

Other OTC - Other OTC Delayed Price. Currency in USD
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0.0190-0.0003 (-1.43%)
As of 10:32AM EDT. Market open.
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  • C
    CHANTAL
    here we go!!!
  • d
    daniel
    giant dude still accumulating?
  • J
    Juan
    Hello guys, where can I buy this stock?
  • C
    Carpe Diem
    It's 8 months since Scoot announced his would liquidate the assets and dissolve the company. Since then he got booted from TRNF, so there is a chance he and Tyler will reverse course and try to make something of TRNX, assuming they aren't heading to jail. TRNX has assets of unknown value and hasn't filed any financial statements since TRNF was spun off in 2019. They announced the Water Pilot 51% membership interest would be handed back for nothing, but we don't know if that happened. It has a 20% interest in Peter Malloy's Tarus Therapeutics, Peter being the designated survivor board member at TRNF. The value of this is unknown. It also has rights to royalties on MG2. The two big assets are the NOL and claims against Scott at TRNF for asset-stripping and fraud. I bet any cash that arrives at TRNX from the royalties, settlement with TRNF or assets sales quickly moves to Scott's pockets under one guise or another.

    Yet the shares came alive today -- showing how willing some people are to jump on wild guesses in the absence of information. It doesn't take much to get the herd to stampede, even for a company that is completely dark and has a demonstrated history of serially abusing shareholders while driving the share price down. It certainly puzzles me that anyone will touch this, but I am writing for my own benefit since I doubt anyone will be reading this post.
  • M
    Martin
    Down 40% on Friday. Did the previous CEO get reinstated? Or is giants the new CEO.
  • C
    CHANTAL
    3 month chart looks promising
    the calm before the storm
  • C
    Carpe Diem
    Last half hour trading wasn't particularly large, but it took the price down to $0.011 since it was a summer Friday and this is a non-reporting pink sheet company with big STOP sign on OTC Mkts. Has anyone checked on Water Pilot or Tarus Theraputics recently? Anyone heard from Mahoney or Wilson? I realize the game is over, but it would be nice to get a recap on what happened to the assets.
  • a
    a
    Where is Giants. Is she still loading on this stock.

    This stock lost 100% of its value in the past 5 years.
  • C
    Carpe Diem
    Anyone have info on TRNX and its roque CEO Scott Mahoney? Scott and Tyler are in major breach of their fiduciary duties and not meeting even the most basic corporate governance requirements under Delaware law. Tyler should be disbarred for this gapping display of bad faith and willful misconduct. Scott is likely heading to jail eventually. TRNX shareholders are probably going to end up with nothing unless the Tarus or Water Pilot investments all of a sudden become valuable. TRNX shareholders also could in theory get damages from Scott, each of the former board members and TRNF for asset stripping. The case could take a few years. Scott's craven mismanagement should make it impossible for him to get insured in the future as an officer or director of a company, public or private. The wheels of justice are turning slowly.
  • M
    Martin
    The Scott legacy. .027
  • C
    Carpe Diem
    It's a miracle these shares haven't gone grey market given that management has not made any public statements or filings since announcing the company was being shut down with no recovery expected. Since then Scott Mahoney and Tyler Wilson were forced out of TRNF, so one can speculate they will use TRNX as their go-forward platform, not that this is good news given how they repeatedly sodomized shareholders before. More likely than not, Scott and Tyler will face serious legal issues and may go to jail. Yet, the miracles of "the markets" means people can buy and sell shares with ease while hoping something will happen.
  • C
    Carpe Diem
    It's just a matter of time before another holder of the 190 million outstanding shares hits the sell button. What a farce that a widely held public company can go dark. The residual assets after the TRNF spinoff might have value but Scooty and Tyler have ways to take the money for themselves. It's amazing no one gets upset or does anything. I sold the shares immediate after the Dec 2019 spin off at $1.15. The forthcoming collapse was pretty obvious to anyone who watched how these crooks operated, but who knew the shares would keep trading. I suspect Scoot and Tyler have serious SEC and other problems related to TRNF, so just waiting to see how long before this company is closed down.
  • C
    Carpe Diem
    Anyone have any information on TRNX? Before Scott got threw out of TRNF, the plan was to liquidate the assets and close the company. Scoot says he handed the 51% membership interest in Water Pilot LLC back to his friends for nothing, but it seems Water Pilot is doing fine, so the question is whether TRNX ever really owned anything or did Scott just hand back valuable assets to a friend. I'd be investigating this for payoffs. TRNX also owned 20% of Tarus Therapeutics run by Peter Molloy, a director of TRNF. This investment reeks -- it was a gross misuse of corporate assets with several conflicts of interest -- and owners of TRNX have never been given the full story on Tarus and the investment.

    Luckily for Scott and Tyler, TRNX shareholders are spineless creatures whose response to wholesale breach of fiduciary duties and mismanagement has been to assume the position and ask for another. I wonder how this will go from here.
  • c
    chester
    Who is still trading?
  • M
    Martin
    Only down 50% on the 1 Month Chart. Taronis, the god of thunder and lightning enjoys human sacrifice.
  • P
    Perry
    CC Analysis:
    Scott pushed out the timeline for significant organic growth for 12-18 months due to several factors.
    1) Can't sell MG gas profitably in California due to transportation costs, and current plans show 12-18 months to place mobile units to solve this problem. This effectively eliminates the investor MG gas growth expectations for CA due to San Diego and other recent acquisitions for 12 months.
    2) Need to move facilities and production from FL to TX (no estimate on timeline) to solve other transportation cost issues.
    3) Need to consolidate TX facilities to create economies of scale.
    4) Need to complete lab testing on ethanol and blends for comparative production value to Butanol. If successful, Company can reduce production costs due to less expensive feedstock. Note: According to Scott, internal testing has already verified production is similar. Scott expects net benefit and to eventually make the switch.

    As usual, Company held out several carrots to keep interest going:
    1) Plans to acquire facilities and produce plants for European locations. This is likely a 2-year project given past experience.
    2) Plan to acquire facilities and produce plants for Middle East. This could be a similar timeline or longer.
    3) Plans for mobile decontamination units to deploy in North Carolina.

    Company plans to buy more Welding supply distributors in CA. This will require more capital in the form of dilution and/or loans.

    No update or explanation on holdup for gelcap other than "still negotiating". Since this project was announced over a year ago, it has become obvious that this was another of those carrots that was announced way to soon. Similar to the way we are just discovering that CA won't really be a marketplace for our gas for another 12-18 months.
    No update on plants for Europe. Since we received the money last year, I would have expected an announcement on at least one since they said they had 5-7 planned sales, not to mention the Italian sterilization treatment sales.
    Overall not enough to get excited about this year, so reverse split is having a similar effect to previous occurrences. That is not to say that the price won't increase later this year as new announcements are put forth and progress is made as we approach year-end; however, Scott put off/dropped profitability as a goal in favor of continued revenue growth. This is in investors' best interest. The distinction though is that we need organic growth which this Company has never experienced in significant dollars relative to its market cap.
  • P
    Perry
    Well, let's think about this. 20.3M shares (without warrants exercised) x .82/shr = $16.65M valuation for a company that has more than that in revenue and assets. Yes, they've been losing 3-4M/quarter historically, but you don't really believe that after adding 7 new distributors with more than 16M in revenue that their losses haven't improved, do you? I understand that everyone has been burned (including me with a cost basis of $3.39), but only 20M shares out standing the earnings and share price growth from just one of the many projects they have in the hopper, could be enough to recover losses within a year for anyone brave enough to average down.
  • J
    Joe
    Does anyone else find it humorous that this company views itself as a clean technology company yet derives most of its revenue from traditional welding supplies? That’s equivalent to walking into a health and wellness store that only sells candy and relegates its flagship vitamin products to a dusty corner in the back room.
  • C
    Carpe Diem
    Scott can't catch a break -- he announces a services company acquisition and the stock drops another 5%. Why? Investors seem to distrust of Scott, maybe because he rations out information -- for instance, he touted $50k of cost savings but didn't disclose the revenues or EBITDA of the acquired business. He also promised to disclose MG2 sales and hasn't. he also blindsided investors with huge equity raise way way below the then market, dropping the share price below $1.00.
  • c
    cfanslau
    Granted Extension to Satisfy $1.00 Price Requirement

    PHOENIX, AZ / ACCESSWIRE / July 12, 2019 / Taronis Technologies, Inc., (“Taronis” or “the Company”) (TRNX), a leading clean technology company in the renewable resources and environmental conservation industry, today announced that the Nasdaq Hearings Panel (the “Panel”) has granted the Company’s request for an extension through September 19, 2019, to evidence compliance with Nasdaq’s minimum bid price requirement of $1.00 per share. The Company’s continued listing on Nasdaq is subject to the timely satisfaction of a number of interim milestones; ultimately, the Company must evidence a closing bid price of at least $1.00 per share for 20 consecutive trading days on or before September 19, 2019 to timely satisfy the terms of the Panel’s decision and to thereafter maintain its listing on The Nasdaq Capital Market.