Hulk Hogan is God
2 weeks ago
In case you are new, this company is SHADY with the books lol, be careful.
Wrap Technologies, Inc. (NASDAQ:WRAP), a company specializing in public safety solutions, has been notified by the Nasdaq Stock Market that it is currently noncompliant with Nasdaq Listing Rule 5250(c)(1). This rule requires timely filing of periodic financial reports with the Securities and Exchange Commission (SEC).
The company, known for its BolaWrap remote restraint device, failed to file its Quarterly Report on Form 10-Q for the quarter ending March 31, 2024. Previously, on April 18, 2024, Wrap Technologies also did not file its Annual Report on Form 10-K for the fiscal year ended December 31, 2023.
To address these issues, the company must submit a compliance plan by June 17, 2024. If accepted by Nasdaq, Wrap Technologies may be granted up to 180 days from the Form 10-K's original filing deadline to submit both the Form 10-K and Form 10-Q, which would extend the deadline to October 14, 2024.
The Nasdaq notification does not immediately affect the listing of the company's common stock. Still, if Wrap Technologies fails to regain compliance within the given timeframe, it risks having its stock delisted from the Nasdaq exchange.”
Hulk Hogan is God
2 weeks ago
Step 1: WRAP sells some ‘convertible in six months for shares’ shares at $1.45 each to insider investor.
Step 2: Six months pass.
Step 3: Investor converts at current pps. Anything over $1.45 is a profit, if the stock tanks and goes belly up they take a loss.
Sure, one could argue that they wouldn’t convert at a price so near their investment level.
BUT. What has happened since they made that investment?
They haven’t reported earnings from Q4 2023 or 2023 annuals. It’s frickin JULY.
They received Nasdaq delisting notification.
Their auditor resigned. More resignations followed.
LAPD and Seattle both said it wasn’t effective and dropped it.
It was featured on liberal hero John Oliver’s show that reaches millions as crap.
Now, if I’m that investor, do I think this thing is working? Or am I thinking about squeezing as much as I can before they either reveal the horror show behind their finances or go to the pink sheets?
Dude, you dreaming if you think something ain’t shady in Shadytown! Iron Shiek has you in a Camel Clutch, better tap out brother.