[Music] [Music] [Music] [Music] [Music] he he [Music] he he he a [Music] [Music] he [Music] n a a [Music] [Music] [Music] [Music] [Music] [Music] [Music] [Music] [Music] [Music] [Music] [Music] [Music] [Music] [Music] [Music] [Music] [Music] [Music] [Music] [Music] [Music] [Music] [Music] [Music] [Music] [Music] [Music] he [Music] [Music] [Music] he [Music] [Music] [Music] [Music] [Music] [Music] [Music] [Music] [Applause] [Music] [Music] [Music] [Music] [Music] [Music] oh [Music] welcome to the pp show where the DG come to have discussions here at the pp show everyone has a voice no matter how long you've traded in the markets we love all opinions at the pp show and we hope you do too always remember this show is mainly comprised of opinion speculation and entertainment so sit back relax and enjoy the show you dildo enthusiasts God bless Teddy and gica one last thing always remember talk is cheap it takes money to buy whiskey p [Music] a [Music] [Music] [Music] [Music] [Music] [Music] [Music] [Music] [Music] [Applause] [Music] oh oh [Music] [Music] oh [Music] [Applause] [Music] [Applause] [Music] he [Applause] [Music] [Applause] [Music] [Music] he [Music] [Music] [Music] fellas how the [ __ ] you doing tonight man it's great to see you guys hope you guys have been well man as we get together again on another goddamn peee show man so it's great to see you guys tonight hope you guys have been well man we got a lot to discuss this evening man uh again we just had the GameStop earnings last night man yesterday uh aftermarket and obviously we had a little bit of dilution followed along with it so we will be diving into that as well tonight we do have some updates regarding HBC as well there are some new uh uh findings as well uh pertaining to the teddy trademarks as well uh we did get something uh sent over to us from twl himself uh so be sure to give a big thanks a twl man on his find as well this evening so we got a lot to dive into tonight man we'll be kind of Deep diving into this 10 q a little bit uh and just discussing a little bit of what the next move here is from Gamestop obviously Ryan Cohen is trying to get as much capital on hand as possible some people are kind of split over it man you have a lot of people on one side pissed off over the dilution you have another side that's kind of like you know this is this is needs to be done to get as much cash on hand to you know pull off the deal of a century right I mean it's very rare that you have you know times like this that um that kind of tend to transpire so again I truly believe that we are going to see something transpire when it comes to GameStop and a few of these other stocks that we uh discussed here at the show so let's get in the legality man we won't waste any more time here hope you guys have been well and let's go ahead and dive right into it man so keep in mind man I am not a financial expert nor am I a financial adviser so please seek The Avenues to do so you're not going to find it here a lot of this is opinion a lot of this is speculation a whole bunch of man is entertainment if haven't guessed already we like getting together we like talking about the stock and that's really all there is to man so keep that in mind keep in mind any guests who come to the show man nobody here is a professional so if you hear any opinion speculation ta things like that keep in mind man nobody hears a professional we like getting together we like talking about the stock and that's really all there is to it man so let's [ __ ] dive into it man let's not waste any more time here tonight uh chat please give a warm welcome uh to none other than Michael [Music] all right Michael how the [ __ ] are we doing tonight my man my options love the dilution that's happening well oh yeah you were playing options this week see I told you man Monday I said look something doesn't feel right to me man like I was looking at things I was looking at the price and you know what's funny Michael is Monday Night Show when we were actually looking at the charts on our way out um I was sitting there thinking and I wasn't really thinking dilution was really going to happen at all right like an extra 20 million like I was like it's highly unlikely that we see anything like that but one thing caught my mind at the end of that show when we were discussing on Monday and what I was looking at was how GameStop had been kind of green this entire time throughout the entire week right and what biggie says is typically what you see is the company will be you'll have a bunch of green days before they tend to drop an ATM now again it was it was just coincidental maybe that they you know happened to drop this ATM right around earnings but I don't know man you know if you ask me it does kind of seem like Ryan Cohen is trying to stack as much capital on hand but Michael I'm sorry to hear about those options man what options were you playing this week I mean I had I had lots of different ones but I like set it up I got in the money purposely just because I didn't have I didn't have enough to buy like a ton of shares or anything so I just was like well I'll be safe I'll get in the money that way if earnings aren't that good I knew they were going to be positive right just the interest on their cash was going to be a lot so I wasn't like I was kind of factoring in like I was like well worst case scenario goes down two or 3% whatever so it was like a a a calculated risk and then Al there's a dilution I was like yeah it wasn't that wasn't radar yeah no nobody saw that coming yeah go ahead one one I I trust Ryan Cohen with my whole heart but one favor I just would really like to ask is is is an update on how much the dilution is done like any sort of like tweet saying hey we're at 80% that'd be great you didn't have to say you just tweet something if it's 80% that way we know because it's GNA be done real quick man I mean SE they did a 75 million ATM uh offering I remember when we were ripping and it was completed in a week and a half I mean this is like a third of that essentially so if I had to guess you know I would probably say that it's probably going to be that 20 million is probably going to be done by probably this Friday if I had to assume if not by by midweek next week but it's gonna be quick man 20 million there's like a huge difference between this Friday and mid week next week so like that's like yeah I mean part of me is like well I really think that you know the exit hearing was supposed to be on the second okay so now it's on whatever the 26 that could be moved up so I I'm really confident my bed bass Shares are come back but like man um if if we could get some guidance on like how how much of that dilution is done that'd be great yeah those options will [ __ ] you man and um you know what's funny is and I want to take a look at it too I'm going to go and bring in the rest of the Fells here um you know one thing I was looking at too today I was looking at unusual whales right before the show and I wasn't aware that there was a million dooll bet being placed down on the 20s for GameStop uh into January so again I don't know maybe this could be in fact maybe this is just kind of like a rogue whale as well um but I will say man you know that IV definitely got crushed um uh you know after earnings and now it looks like you know the uh call option buying is back I'm just playing the shares man for now shares I mean I you know you know again it's very easy to get burned on these [ __ ] options man and you know have I made money in options absolutely have I lost money absolutely but you know longterm you can't go wrong when it comes to shares right you can hold them in indefinitely forever right so it's true it's true yeah um all right cool well it's good to see you tonight man um let's go ahead and welcome uh Travis here uh onto the show here tonight we'll see what's going on with Travis uh and then we will go and bring in the rest of the fellas so chat please give a warm welcome to none other than Travis a stripper [Music] all right Travis how the [ __ ] are we doing tonight my man doing well happy Wednesday yeah it's good to see you man so um obviously we have a lot of stuff to discuss man uh I'm curious before we kind of dive into some of these 10q uh the 10q stuff and obviously the financials tonight um what are your thoughts man did you see this this 20 million uh ATM coming out of nowhere and you did no I didn't see it come out nowhere oh you were shaking saw I saw my apologies B5 yes yeah what do you think about that man I mean what's up with with Cohen needing as much Capital as uh on hand as possible I mean to my knowledge with this 20 million um if it does complete by this week it's probably in the ball ballpark of like $400 million he's sitting on 4.2 uh billion as we speak as we saw in the earnings um I mean what are your thoughts man I mean in your own opinion kind of looking at this I know you've been a long-term uh GameStop uh holder like a lot of us out there um what are your thoughts man I mean why does he need an additional 400 million from from the GetGo right now I don't know um that's that's the question of the hour I guess is why does he need the extra Capital you have 4.2 billion why do you need an extra only 400 million uh which is it's probably going to raise about 410 414 Million by my calculation so a little bit more but you're sitting on on$ 4.2 billion dollars of cash almost no debt you posted a a profitable quarter um and from the looks of it with the interest incomes if you still hold regardless of how you can still post a profitable quarter in Q3 I I don't know I don't know why he's doing another Capital raise right now uh or if he's even doing it now maybe he they made the announcement that they're going to do it and they're waiting for another run like the last one uh that is a possibility where they sell when it's at $60 to $80 per share rather than it's at 20 uh we'll have to wait and see I will say the timing is very interesting okay just last week Carl icon decided to do a 400 million um share offering right the timing is oddd man I mean look like we've seen these two pictur together all right we know that they have a little bit of history in still to this day none of the public knows what the [ __ ] Ryan con and Carl icon discussed right we don't know how long they were together uh discussing all these things but I will say the timing is highly interesting 400 million from I AP last week which I think we're still in the process of completing here soon um but also a week later jump one week later and all of a sudden um you have GameStop raising an extra you know with their 20 million shares an extra 400 million I don't know maybe the two are connected maybe they are not to that I say this here pass me that 10 foil pipe right here yeah I can smoke that sin all night let's go I like you like it I mean there there's got to be something here I I feel like right I mean these are two um you know activist investors in again you know they they have some kind of histories here so I don't know you know and and again to quote um I can't remember who said it but uh you know someone had quoted uh Carl icon that um he's going to teach these guys something they're never going to forget so again we're still waiting to hear um what that is so let's go ahead and bring in the rest of Fells backstage we got slobo out there with the 10 appreciate the love slowo we also got mad uh mad man out there with the pp membership for two months appreciate your support mad man GameStop is becoming a whiskey company and it takes money to buy whiskey right on man we got Gravitron out there with the two real men like Bush we also got Rick out there with the pp membership for 15 months I think that 4.2 Billy is locked up into treasuries and interests current offering will be used differently m&a or who knows what well said Rick we also got emotional damage out there with a five the point is what price would would selling 20 million shares be worth it with four billion in hand I don't know you know that's really the the biggest question and you know uh before we bring everyone uh on stage here one of the major things too for me is that you know you didn't see this type of dilution happening for the last two three years right you don't really see that the only time that GameStop typically kind of sold shares into the market was when we had the initial sneeze right and they essentially capitalized off that that's where they made their initial first billion dollars for their War chest um you didn't see any of that happening excuse me for two years straight um you know and that's I think the most important thing that at no point in time did Ryan Cohen just decide to dilute shareholders for two years straight right it's a very calculated move if you ask me and again we know from firsthand kind of uh experience with uh raring Kitty running his uh show whenever we saw back in June he said he's not working with anybody right he has no contact with GameStop he's not working with anybody this is just him and you know to be honest with you I think that GameStop kind of seeing him return um you know they capitalize off that move to put them in a better situation right um so I don't know you know I think it's a very good kind of pass off here and there I don't think these these two have any kind of contact per se um but they can most certainly pick up on on each other's moves and what they're kind of doing um and to my knowledge I don't I wouldn't really regard that as being something illegal so let's go ahead and bring in the fellas here let's get through that 10 Q here we'll bring in sloppy Stakes here uh and uh we'll go ahead and let um uh anesa ride in on his intro on the way in so chat please give a warm welcome uh to sloppy Stakes [Music] [Applause] [Music] all right what's going on we got sloppy with us here tonight we also got anasta how you fellas doing tonight anasta how you doing my man pretty good man just finish cleaning my apartment up so feeling uh feeling clean right on glad to hear it man excellent all right so let's dive into it tonight um why don't we start with the uh why don't we start with the 10 Q Travis if we can take a look at it if you want to jump straight into the financials we can if we want to start at the 10 Q um that is also not a problem at all uh real quick we got crayon green out there with the five PP show gifted memberships appreciate your support crayon again if you got a membership out in the chat Fells be sure to give a thanks it's uh the least you can do we also got Gravitron with the two what if ATMs are to lower the float never hit the market I don't know Gravitron you bring up a good point and um let me see if I still have it on my phone here someone had shared something uh I guess from one of roaring Kitty's videos which I'll try to pull up on the show um it was basically one of his meme videos that says moon is up on the mountain the lunatics have taken over this island waiting on the Rapture singing We to keep your prices down feed you to the hounds to the Daily interesting we're going to have to take a look at this a little bit later and it was one of the I'm going to go ahead and just uh retweet it if some people want to check that out while we also posted a uh a clip of roran kitty talking about dilutions he's like man if you could just do as many as possible that'd be great you know yeah he he he talks very highly about having uh a lot of capital on hand and again like you know for a company to be successful whether that be mergers Acquisitions you know um operating you know they need to raise money but they have to raise money for a reason right you can't have you know because it's a double-edged sword you can't just have CEOs who just dilute everybody and and nobody really you know um you know people are kind of used as cash cows things like that that's not what you want and that's not necessarily what I'm saying either when it comes to Ryan Cohen I do think that the guy has most certainly a a strategic plan um but when you compare it to other companies other CEOs that just dilute their shareholders over and over again with no strategic plan that is entirely different um Ryan Cohen I I do think he he does have a plan here and he will uh utilize that cash for a lot of us yeah go ahead the one thing that's confusing though is is it actually says in the ATM that they don't do not have any specific Acquisitions in mind that they want to do so that that's that's one the one part that's kind of confusing I mean on the other hand it's good that the only language they removed because they basically expanded the the the ATM from May 17th and they removed the part where it said that there was restrictions due to the revolving credit so now they got rid of the revolving credit they got rid of whatever restrictions there was so that's cool but I don't know if they can say we're we're not contemplating uh an acquisition or if they're like oh we already acquired it we're planning on using this money to build a bunch of physical buyby baby stores I I don't I don't know but it it it is a little a little odd um no I agree you know like um 100% you know kind of tracking back a lot of the stuff with like the ATMs and dilutions and things like that again like you know I think the most important part is that the company was not diluted for the last couple years right now all of a sudden we're kind of seeing a lot more dilution happen here with the price Rising but I think it's because you know the the time is now to finally make a move and and transform GameStop so um yeah go ahead I was gonna say but you have to keep in mind that Ryan Cohen isn't taking a salary he's not getting stock you know benefits as compensation he's invested in this and so when he dilutes he's diluting himself as well correct yes I don't see a CEO who is in charge of a company diluting himself unless he sees benefit to doing so in the long term and you you have to take that into consideration if he was getting paid like every other corporate executive where he's getting paid paid uh immense amount of salary huge stock options and everything else you'd have an argument here that this could be nefarious but you don't have one with him he's diluting himself he has a plan we don't know what that is and they could have easily done another 75 million dilution right they could have like wrecked the price you know even worse than you know with the 20 million so I mean I I think it's very important to be paying attention um to especially the values right I mean I don't know you know if you if you do ask me I think there could be a scenario here where icon is investing into GameStop then on the other end you have Ryan uh investing back into IEP I don't know you know I don't know what uh these two individuals again what kind of plans they have uh moving forward if they do have any but I don't know I like to think that it's a little bit coincidental that you know icon does a 400 million uh ATM and then all of a sudden GameStop you know not even a week later they're now raising another 400 million while they're sitting on 4.2 um so it is interesting go ahead so Herm Herm daddy says are they required to disclose if they have an acquisition Target so I was just bringing up because it it seems to Clearly say they don't have an acquisition Target so they said they could use it for Acquisitions but that they don't have a specific one I don't if it says lined up I'd have to reread it well doesn't the language go back and forth a little bit with like the ATMs they they tend to State yes you know we are going to utilize these for Acquisitions and other times they state that they're not I mean there's a lot of contradictory um statements happening back and forth between the ATMs when you kind of read them so yeah also just FY I guess the pgna is redoing our power so my power is off right now so my laptop is probably going to die in the next 10 minutes so if if it dies it dies well thank God you got a laptop at least man right on um all right cool so uh let's go ahead and uh dive into this her daddy appreciate the five um uh I think the offering is a message oh wait are they required to disclose if they have an acquisition oh I'm sorry you just read that one appreciate the five per daddy um emotional damage with a five I think the offering is a message to us get ready yeah very well could be right I mean like again you know I like to think that there's a reason for everything and look you know I support um uh CEOs like Ryan Cohen I think he's a great guy I think that he's a very intelligent person you at the end of the day he's not sitting here collecting a fat check you know like Michael highlights um he's not sitting here um getting paid or I'm sorry what Travis was saying in terms of dilution you know he's diluting himself as well you know he needs the stock to succeed um for his own investment as well because obviously he's not being paid right as the CEO so um all right let's dive into the 10q uh take it away for us Travis oh we also have ABC in here let let's pull an ABC ABC great to see you tonight my man hey good can you hear me yeah yeah we can hear you man we're actually just about to get into the 10 Q Man um uh please uh if there's anything you want to add before we dive into it man um uh we're all ears man uh any opinions about what's going on here did you did you hear what I mentioned about IEP in their 400 million and then also it kind of lining up with uh GameStop raising Mone me what are your general thoughts about what's going on here ABC let's hear it I mean we can speculate a lot but I I do find it coincidental that chewy dropped ATMs Overstock renewed theirs new had an ATM GameStop has these ATMs um just The Coincidence of all these familiar companies offering ATMs all at the same time um to me if we are to see some type of parent holding company an Amazon competitor the only way to really do it without breaching ketu law is to have different holding companies with entities that co-invest in each other so for example in the new situation it's a 80% of their market cap at the Shelf offering um for 2.7 billion to me that that means that there could be a group of P private investors that come in and have a change of control for the for the ie p and the GameStop what if they're co-investing each other hey you buy you know 5% of my company I'll buy 5% the other thing I want to mention about this shelf offering is it's only 20 million shares it represents about a 4% dilution yet when you convert the math of 21 a share 22 a share whatever it is it ends up being like 400 and something million which ends up being 11% increase on their cash flow so you got a 4% dilution but an 11% increase on the cash flow on the books to me that's a great deal the other way to look at it is is that Jeff is the third party and if they are selling this privately to perhaps maybe chewy or IEP yes you get the initial delution but your cash flow goes up and we we've just watched Warren Buffett dump billions of dollars of Bank of America we're everybody load up on cash right now and I think Ryan said it in his annual share meeting is that the macroeconomic S situation right now is unparalleled and it doesn't necessarily mean he has to make a move right now maybe just the organic nature of his stock of it going up because I kind of for I kind of foresee just a kind of a a a gradual increase over time what if he's just going to Simply add more cash so that when the market does crash he's now sitting on billions and billions where he can make these Acquisitions for pennies on the dollar too right yep so go ahead sorry no no um I was just going to agree with you 100% you know I mean that's really the wisest thing to do is uh to kind of sit on a lot of this capital and then start making moves and there could be a very real scenario here where some of these companies are investing into each other I mean I I think that you I agree with you you know it's a little bit too coincidental that all of a sudden the same week all these companies do ATMs and then the following week you see more ATMs um especially with new right like a a $2.7 billion ATM nearly 70% of their market cap that they do in terms of an ATM was highly bizarre um if you ask me so ABC yeah I mean I do agree with you there so I I I honestly think that's the way of doing it yeah by having all these entities co-invest in each other and these entities invest back what ends up happening is if you do form a relationship a Synergy and you are building a compe well guess what now you're receiving let's say uh you know I'll give you an example Overstock for example say they're a part of this they do so well in e-commerce and distribution and if they end up renting you warehouse space for your distribution you're going to pay less right so your profits increase well if Overstock has a part ownership in your company and your profits are growing up and then you're also paying them for a service but at less of premium because you don't have to go and build your own distribution centers everybody's winning and everybody's profit margins increase and you kind of want to have that win-win outcome in something like this no I agree you know I mean you you could be dealing with scenario like that um all right let's dive into the 10 Q let sorry no no no sorry sorry I'm saying I I'm I'm saying go for it broy I'm here to to learn here and uh find out what this this drop is right on yeah and I know you wanted to cover a little bit of the BBB uh LTD stuff and also uh and I'm sorry that we haven't got to this T you yet we're about to get into it we have some breaking tin foil man all right uh here at the show I know you guys love your goddamn tin foil like peepe does here um I gotta say man this is real [ __ ] weird man all right we got a post from byebye baby on Instagram with a teddy bear check this out I don't know fellas you know I feel like at times I'm losing my [ __ ] goddamn mind man what is very bizarre it says uh okay byebye baby new Instagram post Teddy uh it says Teddy is bigger than uh pink cap cocka vinegar I don't know what he's I guess it what is that like a bar is that a visor sun visor visor a sun visor like a like yeah yeah it is a sun visor you also have a little dog next to too so again little bit of uh tin foil for our addicts out there man all right let's take it uh let's take it over to Travis Travis take it away for us man uh our accounted here at the pep show uh what are we looking at in terms of this 10 Q tonight uh you're basically looking at GameStop's quarterly Financial filing well done thank you excellent no [ __ ] all right I'll be here all night all right yeah that's the gist of it fellas that's pretty much it no I'll jump straight into the financial information and I have a lot of this broken out in Excel um but what you know what you'll really see is current assets increase tremendously year-over-year for the same period ended by about 2.8 million let's not forget they had a share offering or at the money offering uh at the market excuse me offering uh where they raised a bunch of capital A lot of that went into cash and cash equival which is why you see such a large increase here I know a lot of people are speculating on the marketable Securities it's only 11 million right now where it was 300 million even last quarter I think it was like 289 I can pull the data uh if needed uh we did see a decrease of that that Pro went into cash and cash equivalent as well uh assets increased as current assets increase not a lot of change here go ahead with the cash um if they're getting interest on those because those be short-term bonds cuz they got like $50 million worth of like uh interest on their cash so I didn't I was going to calculate that because I just saw that like what what do you think that is from just like an interest account or uh I do believe it's from treasury bills treasury bonds or CDs um and we can get further into that they do go into more of an explanation on what marketable securities are versus cash and cash equivalents uh and and so we can get into their definition because every company has to Define what that is and what that means so that people can understand the difference um I I do believe cash and cash equivalents could include some marketable Securities that now expire in less than 90 days so maybe they bought some six-month T bills or you know something like that that were there for some time and now they're expiring this quarter so they move it to cash and cash equivalent because it really is something that expires in less than 90 days um how much sorry go ahead Travis by all means I was just going to say how much interest does the 4.2 billion rake them in if they did oh I just did that actually um it would net them 42.8 million per quarter wow that's pretty good and that's not using the full 4.2 because no no company is ever going to put all their cash into that that would be using 3.5 billion at the current T Bill rate month rate you looking at 42.3 million per quarter so that let's see equals that times 4 171 million per year okay of interest income and of itself but there's no way to confirm whether or not they're placing that money in t- bills not from the way that this is worded gotcha um that I do speculate that a lot of it is in t- bills because of the wording but I can't confirm it I can only speculate based off of the wording got and also what would be the point of doing T bills right now if literally just a highin account gives you like 5 and a half per. because T bills are backed by the government uh and where other accounts you only have the FDIC Insurance good point um that would be my speculation but again I'm speculating um let's continue um total long-term liabilities decreased by almost 300 million again they could have used those marketable securities decrease a lot of those liabilities their accounts payable acred liabilities are all down uh the only thing that's not down is current portion of long-term debt that won't change much over time unless your long-term debt is going to be expiring within the next year you'll see that decrease quarter over quarter this is expected to kind of remain the same unless we're getting close to reaching the maturity date of any long-term debt um operating leases I would expect that to decrease they are downsizing some of their nonprofit profitable stores and becoming more efficient and more effective in the way that they're operating not a big surprise there other long-term liabilities this is where you see long-term liabilities decrease I would expect to see this drop to about um 10 million over the next year no I'm I'm sorry about eight million there should be about eight million about the same time next year uh so these long-term liabilities to me they appear to be about 2 and a half years left of until they mature uh and that's just looking at last year this year decreased by about 14 million it'll decrease another 14 million over the next year and then the 7 million will deplete and then slowly you'll see the current portion of long-term liabilities or long-term debt slowly decrease as well this is what everybody's here for the big additional paid in capital this is the additional raise that they had for the at the market offering uh about $3 billion total actually a little more than that uh which is why their cash increased so much why marketable Securities decrease and you saw the difference in cash increase and the total current liabilities decrease a little bit as well um I do have some financial ratios I want to get to in Excel um and so I don't know if we want to change that or if we just want to hit on the statement of operations first you all however you want to do it I mean um if you want to kind of go back and forth we can that's totally this is quick Let's uh let's do this and then I'll share my full screen and I'll jump into Excel because I'm just sharing my uh window or whatever um net cells we got to talk about it their net their R revenue and net cells decreased by over 400 million year over-year for the same quarter that is substantial that is big that is not looking great however their cost of sales decreased and their gross profit decreased but their gross margin actually increased so for every dollar they're making they actually have less cost uh and so their gross margin is increasing even though their gross profit decreased you do want to see that that is a very good Financial metric Financial ratio to see how good a company is handling their dollars and their revenues for their cost of sales selling sgna selling General administrative uh this decreased you know 50 million year-over-year uh for the same quarter that's good to see wi Nets an operating loss of -22 fortunately that interest income this is what we're talking about those treasury bills bonds CS whatever they have that investment in is producing 30 almost 30 something more million not quite 30 million more a year which is leading to a net income net profit not a loss this is what we want to see again I want to see their net sales increase year-over-year of course it's been decreasing substantially uh times are tougher people are spending less money on Collectibles and things uh you know I would like to see GameStop really use their capital for a capital injection some type of acquisition that can increase their sales year-over-year something in a company that is growing and producing revenue and growth year-over-year hopefully they're looking at a few targets they may not have anyone particularly in mind that's what I'm looking for with this huge Capital raise and this new at the market offering I'm going to stop sharing ing so that I can share my Excel and we can go over some of those financial ratios okay let's take a look at them um share uh share my entire screen oh I I can't business BR says they Clos 800 stores they're bringing in less money but those stores were really not really generating that much money to begin with like you know the stores that they closed down like they were really cutting a lot of the fat like you know just operating these stores versus what they were bringing in was it just it's from a business standpoint makes sense just to close the stores that are are bringing like no [ __ ] business in right um focus more in on the stores that are you know reallocate a lot of that inventory around I mean I don't know you know it's really in my opinion you know if I had 800 stores that weren't performing that well I'd also cut the fat too I mean why wouldn't you uh go ahead traps no I I agree and a lot of companies do this um my my prior company we had over 500 stores and we were always looking at the 10 worst operating stores every quarter do we need to cut any of these is this a consistent thing is is this a company that just had a bad that had a bad quarter or is it a location that consistently has a bad quarter and we're losing money here losing money let's cut the fat and let's go to our you know the stores that'll produce a net income not a net loss it is very typical to see companies looking at this and I'm happy to see them looking at this trimming that fat and continuing to increase their efficiency as a company to produce you know net income for dollar raise dollar Sal your Mike's doing that like muffled thing real quick better I'm gonna buy you a new way better well I'm actually on my work computer tonight because I have the Excel stuff and I wanted to share it my work computer has been running slow got apologize for that this isn't my normal computer that I normally use um for the show um but let's jump into some of the you know I love the financial ratios uh I'm looking at liquidity ratios leverage financial ratios efficiency ratios profitability and market value um liquidity ratios obviously you're going to see this increase they have a lot of cash they have a lot more cash with they at the market offerings and with that cash comes a lot more liquidity so we're looking at cash over you know certain things in this case we're looking at total current assets over current liabilities How likely they are to be able to meet their current needs for their liabilities and what is payable they have more than six x of their current liability sitting in their current assets that's great to see asset test ratio is going to be somewhat similar you're looking at current asset less your invent your current liabilities kind of tells you where a company stands as far as like you know how quick they can turn that current assets around if their inventory doesn't sell and the cash ratio is looking at Cash marketable Securities over current assets that too 5x anything in green that you see here is better than we're looking at same quarter year-over-year all their efficiency ratios went this has to be discussed and I'll talk about it their sales went down and when their sales go down your inventory turnover and your asset turnover are going to go down you can't turn it over as quickly when your sales are decreasing in the way that they're decreasing rece receivables turnover is kind of how quick you can turn your receivables to cash that decreased a little bit as well in Day sales and inventory I want to see this decreasing I want you to get the inventory in and be able to turn it unfortunately it increased by over 25% so they got got to find something that'll produce inrease these ratios when we look at their 10K which was their annual statement which was year-over-year from what was it January 2024 to January 2023 everything in this column was green so I want to see I I I do see a little decrease in what's going on mostly because there cells and revenues have been um but they are still profitable it's just a matter of how long can can they keep this up they need to make a move profitability ratios we'll move into that real quick gross margin ratio as I said their gross margin is increasing so for every dollar they're making their cost of sales is lower or yeah at least less but good to know operating margin not so well not so much I mean they they had a bigger operating loss but the interest income is what kept them profitable I do want to see this kind of improve and see if they can trim a little bit more fat they're about 200k below what they were last time not not too bad yeah value ratio we knew this was going to increase with the at the market offerings uh it more than doubled I I think I tweeted that it was like more than 3x it's actually more than 2.5x give or take um and they earnings per share this is what you want to see you want to see positive earnings per share their price earning ratios I didn't actually calculate this so we don't have to see kind of real quick a lot of liquidity they have a lot of Leverage they're a little bit more profitable in their gross margins a better Book value and earnings per share is now positive so a lot of this is improving I would like to see them just become a little bit more efficient in the way they turn over their assets in inventory over the next quarter or two so let me ask you this okay kind of like you know obviously from an accounting standpoint because I I'd love to pick your brain a little bit when it comes to this stuff um from an accounting standpoint what does what do you think the company is attempting to do here before they make some form of an acquisition because you know looking at these balance sheets looking at these earnings for for quite some time um one thing that we've all agreed on that as Gamestop shareholders is that they need to boost their revenue somewhere right they need more cash no matter what you know you're you're shaving the fat off stores things like that whatever it may be cash flow cash flow cash flow so what is the company attempting to do right now in your opinion from an accounting standpoint with these numbers that you're looking at before making some form of an acquisition where they can boost their balance sheet I mean because to me it's like sure you know sitting on four billion in cash absolutely you know the company's not going bankrupt anytime soon the entire bankrupt kind of thesis of uh these short sellers who were pushing it back in 20 is is now it's it's mute right there's no more um any kind of form of going bankrupt at this point in time so I mean why you know what do you think that they're waiting on before doing some form of an acquisition here if it was me position yeah you have to think strategically you have to think long term an acquisition isn't a short-term play yes it's something that you foresee years of in the future um into possible growth of a company and you acquire them at the early stages where they when they have been losing money year over year you want to see a company that's at that stage not only that if it was me I'd be stockpiling waiting for a crash that's me I I I mean they waiting for like timing huh call me chickening I think it is going to fall and when it falls they're going to have a huge cash pile to come in scoop up a lot of companies dirt cheap and really really then push the company into you know more growth more Revenue generation more turnover as far as efficiency and possibly you know a lot more cash flow positivity which can accelerate the company into you know the long-term value investment gotcha all right yeah um uh go ahead Travis continue on no that was basically it I mean okay so the earnings look pretty good I mean they they look like the company has most certainly improved um with time obviously there there's some little segments areas that can be improved upon uh but overall I mean I think the company is most certainly in a full-on uh turnaround not only that also a transition so um all right sounds good well we also have biggie here with us backstage why don't we pull in Biggie and get some of his thoughts tonight uh excellent analysis when it comes to the 10q and some of these financials here uh Travis so uh chat please give a warm welcome uh to none other uh than bigy all right biggie what's going on man you're on the peee show what's going on tonight man let's hear it not too much how are you doing good good man we were just kind of looking over these uh 10q uh Financial you know um I don't know how long you've been kind of uh listening in tonight but one of the things that I had brought up about the recent ATM is it does kind of you know line up with what's going on here um perhaps maybe with the same ATM from IEP some people have speculated that it's an exact ratio to uh how many uh outstanding shares there are so maybe it could even possibly be a $1 dividend um there's a lot floating around right now with this whole 20 million ATM biggie let's hear it man I mean what's uh on your mind tonight what would you like to share with everybody out in the chat let's hear it yeah so I don't think this ATM is going to be used or any of their cash for an acquisition at all um I think it's just strictly a very good excuse given the current business to raise cash right because at the end of the day they're they're break even you know net of Interest they're even potentially at a slight loss cash interest earned on their cash um so if you really look at the business um they have a good excuse to continue to raise funds up until the billion dollars of uh TS or I guess authorized shares that they could potentially issue up to a billion shares uh to have a total outstanding of a thousand of a billion shares so I look at this and I go okay Cohen and roran kitty said this like con's a smart guy I mean if you look at the things that like even super ston or other subreddits have come up with there's plenty of ways I think you could very easily take this company and pivot it and have some probably pretty solid growth perspectives in the company the problem is when you have growth perspectives in the company um you have investors that can come in and be speculative right and come in and say hey this might pan out way more than where it's currently at there's a reason to you know come in and bid the price up right now in the event that you have a company that has literally no growth perspectives currently that's been outlined by management that we know of other than the fact that they are shooting for this break even to slightly higher profit margin of the existing business and basically going lean at the end of the day there's no reason for a growth investor to come in here it's at the end of the day potentially a value play and you're looking at more of just kind of like a book value play at a at a baseline level so I I look at that and I go okay this current business model is a good excuse to do an ATM whenever you want if nothing with the business changes and if you look carefully at the last three ATMs including this most recent one they very clearly outlined this that the core business has not changed therefore we are raising funds because the stock has decoupled from reality right SEC completely can't do [ __ ] about that they can raise funds whenever they want if nothing changes with the core business it's very difficult to be able to raise funds and justify it with the SEC if you have a bunch of growth opportunities and you know there's no need for cash that is located with a specific growth Outlet when you know investors might be interested in something like that so it gets a little hazy there so I just want to kind of like establish that Baseline that they are always going to be able to justify an ATM with the existing business model and I think that is by Design personally um and I think these ATMs will continue and I want to kind of bring up what I brought up about roaring kitdiy last kind of comeback and what it looked like and the significance of when they did an ATM and what happened when raring Kitty bought all of his $20 calls in the money right 120,000 of them he bought them during the ATM and that very much established a floor for GameStop to sell into with shorts also trying to obviously short it like I mean it's company selling shares it's free money as a short seller theoretically so what happens now that everyone is looking for and knowing roaring kitties calls right when they come in I mean everyone's waiting for that right like that's like the go signal the problem is if everyone's looking for that and there's no significant consistent selling of shares in the marketplace what happens when he enters IV is going to [ __ ] pump and he might get priced out of the total notional contracts that he's able to purchase with the dollars that he has right so what is the perfect [ __ ] trap for short sellers do an ATM the company is the source of selling in the market to stabilize the price while roaring Kitty or someone else buys calls and when that happens IV is going to stay relatively flat you we've seen it with every ATM there's a self at the start and then it trades flat throughout the day because the equity traders who are actually conducting the ATM are killing IV because they're looking for volume to sell into if they're looking for volume to sell into it creates a very static computerized like trading mechanism which crushes IV and if you saw IV the last day or today it got crushed even though the stock went down 125% which is a large move IV got crushed and sure [ __ ] what did you see at open today a shitload of [ __ ] contracts being bought up I mean especially the largest one being a million doll in premium being placed on the 20s for January 25 so exactly so I I look at this and I go okay what what does this really help someone from and you can replace roaring Kitty with anyone right if I want to enter into a large position but I don't want to get priced out and I want to support the company along the way in the long run when is the the best time for me to buy large portions of shares or calls or whatever I want to do to enter into a long position when there's liquidity in the market no different than when the company wants to sell shares they only want to sell shares when there's liquidity in the market so if liquidity dries up on both ends it's very difficult to enter into a position a large position if you want one without driving the price up significantly and allowing you to acquire less amount of shares so with that Baseline there you take what happened from April to end of June and put that [ __ ] into reverse put the whole entire story and timeline into verse what do you get you get it starting the cycle starting with an ATM and allowing someone to enter in versus on the flip where roaring Kitty and April more than likely bought all of those calls when no one was really looking or knew what the hell was going on and then when it kind of clicked you know price ran up he sells his calls comp issues in ATM that's his chance to then take that money that he made and reenter but now that all the eyes are on him you can't make that trade ever again everyone is looking at GameStop's options like a hawk at this point yeah you're right and also like also the chewy ones as well too so you know like what you're saying is making me start to believe that because again like you know like take the meme that he posted right where uh Andy is holding like uh Woody and it's like really chew and he throws him down he's like you know what he says I'm I'm I don't want to play with you anymore or something like that right and that was obviously like a dream and I don't know you know I personally think it was a little bit of a fake out you know a lot of us kind of were sitting there saying okay maybe there's not going to be any more kind of cycle runs when it comes to chewy at least not not yet me personally I didn't think that he sold his stock I just think that maybe he's being like all right I've played chewy now it's on to you know the the next cycle for whatever cycle they're kind of running it with these Algos across the market but I don't know you know I think it was kind of a fake out and everyone Drew Drew their attention to the probably the option chain for GameStop and you obviously saw the the spike up with GameStop but look at where we're at right now with Chewy right like GameStop's back down to 20 bucks and chewy has just passed $30 today so um it's like a 10% run since that since that was posted so I don't know you know I mean what you're saying it is true everyone's kind of like watching these option chains as a hawk but you know no one's really paying attention I I mean that's what I think is truly going on with the Kansas City Shuffle here is that we're being constantly like our heads are [ __ ] spinning man going back and forth right on what exactly he's doing so um I will say it's a it's an excellent analysis uh biggie yeah and if you think about it like a lot of his tweets are like he's got a lot of the like you got to go back to go forward kind of stories in his tweets and there's a lot of like this shit's going to make you go [ __ ] crazy right you're going to lose your mind because it's going to defy everything that we know of like normal Market mechanics like in what world does anyone look at an ATM and say like this is an amazing like this is you're going back right like no one would think like this is the Launchpad by any means but when you're dealing with the quantity of of or I guess the amount of dollars that dfv is working with you almost need something like that and all Cohen is looking at and is saying agnostic of roaring Kitty or anyone hey there's market demand for my shares I'm going to be able to fill this ATM without tanking it because more than likely someone's going to come in and scoop it up he's completely covered but at the same time what happens then in the long run with this if we continue to have these Cycles where $20 is the floor but the shares outstanding gets higher and higher right but $20 stays the floor technically your market cap is increasing over time as your shares outstanding increases and your floor on the cash per share is also increasing with it so what are they doing they're literally creating a [ __ ] Vice that is squeezing out anyone that is staying in a short play this is like the controlled moas that I had brought up a long time ago like this is how you do it I never thought about it like that yeah you're absolutely right the outstanding is going up but if they still find a floor at 20 and they continue to build higher you're right it actually isn't in fact increasing wow I never really thought about about it like that man but honestly biggie I I truly think you're [ __ ] on to something here man for sure and then so like the end game how does this like what really happens to a short seller it's like well eventually the cash is going to exceed on a per share basis if they keep raising it at $20 and similar shares being sold like the dilution is is going to push the cash per share higher above $20 and at that point anyone that shorted below $20 literally you can't get out if this company's not using that cash like and then you take your everyday normal like value investor that has somewhat of a brain and says hey if this company's trading at $20 and they're worth $25 on a book value alone and 99% of that book value assets I guess is like let's just say cash like holy [ __ ] that's free money to the everyday like you're going to have everyone in their brother going out to just buy this stock and until it hits 25 they're just going to do another ATM exactly interesting so then it's just like this consistent cycle that slowly inches it up and over time as a short seller you get worse and worse in the whole you're basically you're [ __ ] you can never get out Notch by notch the floor will raise too exactly so you think that eventually with time okay so let's say that that is in fact what's going on here um let's say with time we see see more dilution will we in fact start to see a higher floor or do you think that absolutely you're your cash flow is increasing as well it increases the book value of the stock the market Cap's going up and so therefore the entire floor price is just almost you know we were at $10 now we're at 20 and and this just continuously perpetuates where the deeper the hole gets the more the shorts are locked in so kind of a pressure in time Notch by notch you might want to exit soon because pretty soon we're going to be at a stock price of 40 as a floor and and and think about like like the back end of what that does like if you have let's just say you have a billion shares outstanding right and you issue a 100 million shares and sell them at $20 and the stock stays at $20 you just diluted 10% right now if you issue another $100 million or 100 million and you sell those at $20 you diluted less than 10% correct so theoretically like as you do this you're diluting less and less and less along the way while raising your floor higher and higher because of in quotes market demand for your stock but you got some [ __ ] Brainiac out there who's willing to buy calls deep in the money to support every ATM just like the uh the ATM this week here the 20 million shares really only about a 3.9% dilution but 11% increase on cash flow yep it's a winning proposition not only that but but we need to talk about one of the SEC reports said that the short interest of GameStop wasn't the what was it 140% but it was actually 24% or something like that so they could dilute by double and short still couldn't close exactly theoretically it's still over 100% short even if they doubled their their Tso and and it could still be a controlled Moos in that way regardless of dilution shorts can't close there's not and if there's no other Market dynamic or Market moderator like the SEC out there that is doing anything to prevent or let or like force these people to get out of their position or whether it's like just the person on the other side of the trade that's not margin calling these folks like if there's no one forcing them to buy what do you do as a owner you have to get your stock price Higher and Higher and build a floor so that they can't get out and it eventually forces them out right like I just want to say Leroy Jenkins in the chat point out it was 226 per not 254 so apologies thanks for the uh correction there and that that biggie to support that if if the market makers and nobody's really doing Force margin calls to correct the problem the floor gets higher they get more trapped but if if you have I just saw somebody post today that literally a RICO operation was going on where they used the Bed Bath and Beyond ticker to track stuff and so if you got this situation where there is a process or a sting operation to discover who's swimming naked with synthetics it's really going to kind of separate the true players who are actually just shorting using real tangible shares compared to those I just it's just going to get Messier and Messier the higher this thing climbs but it's not going to be as as there's obviously going to be volatility but it's just literally creeping up every every round yeah and then as shareholders like if the floor slowly keeps increasing even though in quotes your Shares are being diluted right technically at the end of the day the share price is increasing like it's in a creative situation for you as a shareholder in the long run even if there is no let's let's say squeeze or moas or anything like they could probably get this thing up to a flooor of like 30 40 bucks over time and that's [ __ ] that's 100% return I mean we know what happens after that that won't they'll be a squeeze but I mean that I think that's the game here it's the safest thing they're both roaring Kitty's covered because he just likes the stock and he's like I got a large amount of shares I want to buy and it's my opportunity and Cohen says hey there's demand in the market right do you think biggie that where do you think the true short position is do you think that that is like Goldman Sachs has offices everywhere like in the Cayman Islands where if they're outside the US they don't have to report those short positions do you think it's like actual shorts like that or do you think it's like um contracts for different shares that are being used as locates or what do you think it's so hard to say I think it's impossible to say for sure none of us are ever going to have access to that data and I think the only ones that like know are the people that hold the positions and counterparties against them so I don't even know if it's worth speculating all that I think we have enough to know is that [ __ ] when the stock goes from $10 to $80 on 270 million shares trading in a short period of time we know whoever has positions that are exceeding 100% of the float or outstanding are out there most definitely you wouldn't see runs and volume like we saw so what do you think the true true short interest is I no idea I mean excess of 100% minimum I I don't no so uh in the case of what you're talking about with you know obviously dilution and then you you find the floor and the market cap keeps increasing slowly um in that sense I mean you it's kind of like an infinite money glitch right because you have short sellers right in their alos which are automatically going to short the stock on an ATM on ATM news right like and I don't even think that they're going to necessarily I don't think they really have control on how these Algos work like they're going to short it no matter what off news of an ATM so it's kind of like they're stuck in a in an infinite [ __ ] Loop and as they continuously do this the company gets more capital on hand right they get more cash on hand each time um yes you know basically um shareholders get quote-unquote diluted but it's not really in the sense of a traditional sense of being diluted when the market cap is increasingly uh going up right um I don't know I I think that you know what biggie is kind of uh showcasing here tonight is is very much possible of what actually going on here and I think it's been very hard for a lot of us to actually track you know how or what roaring Kitty is meaning by like these mentions of like you know uh 10 per Notch and things like that but um honestly bigy might in fact be on to something here you know you they kind of raise more Capital they find a new floor yes you know the this the outstanding goes higher but I mean take uh uh birkshire Hathaway for instance right like I think they have over two billion shares outstanding uh substantial amount and yet the cash is uh and yes the the the company is flushed with cash and um their stock price is nearly like 400 a share so I don't know you know I think that you could have a scenario here and you could have a scenario where it's kind of like Tesla where it was like more of a controlled squeeze right like every uh you know along the way so I will say it's it's very interesting stuff I think Biggie's right in the fact that you think about the liquidity crunch when roran Kitty did his all all his options he only has has 2% of the company right now and even to get 2% of the company like he didn't actually make that much off of his options because he got in the money he paid like $5 a piece or whatever for him and then he sold them for like I don't know was maybe $15 a piece or he didn't he didn't make like quite as much as as it would have seemed and uh so because the the implied volatility would start going up so much if um if you start buying a lot of options but right right now you know now there's I it's like guess I mean I can't believe the I the IVs were down to like 70 right because the IVs were just up to like 180 and that's that's really expensive but you know now someone like him I mean he has he could theoretically buy 8% of the company right so he could buy a huge like an even bigger option position than he did last time and get up to that 10% MH um which would be awesome I like it man you know I think it's possible again like you know it's just to me it's very funny seeing a lot of people out there you know complain over the dilution I mean this is not a scenario here where you have a CEO that's kind of like Adam Aaron right where it's like they have to dilute to keep the company in survival right like that is not the case here the company is doing quite ra quite relatively well if you ask me looking at these financials uh looking at their earnings the company looks great the company's in a full turnaround at this point in time right and I think now you know as they kind of continuously do this and they raise more money and we find new floors and we continuously go up it can be very lucrative not only to shareholders but also the company itself so um I don't know there's a lot of potential here to where this could and in fact occur and then right at the very end of what they're doing with their cycle they can take all this money you know go go Full Throttle within their transformation and start acquiring a shitload of companies and become a holding company I think it's very much doable if you ask me it takes time and look Perfection takes time all right look if you ask me I want the godamn [ __ ] thing to go up infinitely man you know I wanted to go to 500 600 a th000 100% just like a lot out there but if we want to do things right man it's going to take time and and and you know Perfection is time and it has to take time I think that's the most important thing you don't want to have a um you know you don't want this to turn out uh to be a a failed type of uh plan that they have you know working behind the scenes you want this thing to be 100% um uh foolproof man so I don't know I like it personally I think biggie is correct in his thesis and again you know I think the the one thing that we're lacking in it is obviously what all these other companies s surrounding GameStop around this time are also doing right um focusing on what the company internally is doing yes I think they're probably most likely going to um maybe we'll see more ATMs things like that but if we find a new floor they raise more money and it continuous a longer way to our goal of of an infinite squeeze I'm all for it man you know I look I've been here three [ __ ] years um I can wait a little bit longer do I think it's going to take another like you know two three years no I don't think so I think we wouldn't see dfv at this uh timeline if we weren't pretty much towards the end um and to be honest with you you know I think there's a lot of potential in what biggie is saying here tonight um Anna you got any questions for biggie you want to add on to um a little bit here let's here tonight no I mean I think his theory is pretty like it's very compelling right it certainly lines up with what people have actually been doing so I mean I mean what else could I possibly add right like great Theory bigy yeah bend over says by increasing the floor the shorts will and I say again will be forced to short uh to close their shorts equals moas I think Ben is is also correct I mean this is going to be a for this is what maybe he means okay by you cannot stop this train all right this is a very real thing I think that these short sellers they had their chance to exit now they're stuck in this infinite Loop of of constantly giving the money uh the company money and up until the point where they'll be forced to basically close their shorts and most likely be liquidated I don't know man it to me it sounds like the greatest goddamn [ __ ] time to be alive if you ask me man I like it uh real quick um I'm just going to read back uh two of these tips here uh or I'm sorry three uh we got Lancer with the two T1 post uh peee uh what T1 post uh are you talking about t0o uh we also got salty L out there with the One PP show gift of membership if you were that lucky person out there that got that salty uh um uh salty lizard membership be sure to give it thanks in the chat we got Rick with the five P invite the ATM offering shills onto the show to present why it's a bad idea since they want to cry so much about it since they know so much I think a lot of the emotional responses to the ATM people out there um is that they're tired man you know like a lot of us they've been holding the stock since [ __ ] you know I was here when the stock ran to 500 I originally got into GameStop when it was $80 you know didn't know who dfb was uh I saw GameStop just going absolutely [ __ ] nuts okay after everyone was saying it was bankrupt I said you know what what what's the worst that can happen got in at 80 bucks and rode it all the way to [ __ ] 00 never sold my position again you know I I like the stock so I I truly think that we are in a very um uh a very interesting timeline here to see the full transformation of GameStop um you know what it was you know 50 years ago to what it's be going to become now um I think it's it's very um uh uh it's very crazy if you ask me um all right uh biggie are you oh go ahead ABC I just want to add I mean biggie kind of highlighted every you know as they kind of grow the floor they grow the market cap the share price is increasing the cash flows increasing it does force kind of a pressure as they get to a certain threshold for an immediate Margin Call because they're too far out of balance compared to what they owe compared to what the Stock's doing and everything and so that pressure is there but what if you turn around because gme is allowed to offer up to a billion shares right well what if you decide to offer 500 or 426 million warrants to your shareholders like Bed Bath and Beyond we might get a cash element how do you keep the gme crew happy what if you issued warrants at a certain price for a certain time that's another way that the company in a sense would experience a little bit of dilution but increase market demand and reward shareholders and force a margin call because you got these wars being exercised I mean it's everything's building it's almost like putting the shorts in the corner everything that's happening right now I don't know I think it's crazy enough to work um uh do any of you fellas have any um any questions for biggie here if not we'll let biggie continue on with anything he wants to add as well I got one last thing before I gotta hop off here let's hear it man um so I I I don't know if I don't think you you didn't stream last night did you no no no okay so I wanted to hop on last night because this kind of all clicked for me of like this whole cycle is going to go in reverse this time and I wanted to say so bad of like I guarantee you're going to see large in the money blocks be purchased tomorrow like insur as [ __ ] right at open you see one particular one and it's Auto yeah let me pull up the flow here and so we know his typical style is what 1,000 to 5,000 blocks on contracts right but this one in particular was 2,622 which I was like okay that's probably not him and I'll just leave you with this little bit of Tim foil because it's kind of funny I was like I wonder if that means anything do you have a Google browser by any chance I do a Google browser go ahead Travis yeah I got type in type in 2622 meaning which call op were you talking about biggie the one at the very top Angel the million I'll even share well yeah I got it here so we're sharing this what is 2 go ahead uh yeah if you see Angel Number 2622 the message relates to the field of creativity and hobbies and says that very soon uh and that's capitalized you will have an opportunity to make money on your hobby take this with due serious and try to use the chance to change your life to the maximum cool that's what it says stupid but interesting I don't know no I mean yeah I mean yeah I don't know yeah but but somebody intentionally put in an order for 2,622 of this I mean yeah I know somebody it's a million bucks like 2622 means what basic be lifechanging money coming up with yeah yeah that's that's kind of the specific part and that's the thing is it if we know right like I was just telling a friend that hasn't really he I finally convinced him about IEP and he's probably going to buy some but I was talking to him today about GameStop and I was like look like when they announced that the ATM's over it's probably going to run to 25 and so I mean if you bought call options that you could make a lot of money from 20 to 25 right and he's like hm that actually sounds pretty pretty good he like yeah it does yeah and I'm surprised that for these being like in the money all the way out to January how cheap they are too 385 a contract wow I'm I'm really looking at the next few days I mean it seemed like they were selling shares today in my opinion just like they did previously I'm really watching for the deep in the money calls to come because if you looked at when he purchased on the second ATM he bought a few 5,000 blocks the first day and then the next two days he bought like 40,000 in total in 5,000 blocks over two days that like I don't know what he's looking for but he's obviously waiting for confirmation on something my guess is to confirm that they actually are selling shares because he doesn't want to price himself out um if they're not selling shares this thing will run and it looked like today that they were selling shares so it'll be interesting to see what happens now why do you say that because I look at it and go maybe they sold of the at the market offering in the first hour and a half other than that unless they sold into upward pressure I don't see it so how I um so in my Capital markets experience we we did a few ATMs with some of our clients how the equity Traders work is they will try to sell as much as possible at the start and then hope that a floor gets established after the first hour or two because they're looking for volume right most of the trading during the day occurs at the start of trading and at the end of trading it's just very common for most equities out there so what you're doing is like you don't want to tank the price but you also have the job to go out there and sell the shares so you're trying to sell as much as you can let the market know you're selling and then try to find volume spikes throughout the day but not sell as much as you sold at the start of the day because odds are they have some sort of like you know I need you to sell these in the next week or so right or like it's usually not like hey go sell them over whenever sort of thing um there's usually like a band of like you know I want you to sell them as soon as possible sort of thing yeah I mean looking at it if I were to sell I would sell on upboard pressure the last 30 minutes but in small doses I don't know if they would have completed the at the market offering with the amount of volume that traded today I don't think so yeah I agree uh but I I believe that they could have gotten at least half of it done yeah I I would I typically go off of like 25 so if there's a 20 million share offering my assumption conservatively is usually between 70 and 80 million shares would need to have traded for them to have completed an ATM so that's kind of usually my rule of thumb it's usually two to three time or three to four times the amount of shares offered so you think this is dfv right here on this two 2622 size 1 million I I have no idea honestly I mean it it could be anyone right but I mean it could be a signal to the start we'll see over the next few days here mhm and I I mean you see some shares come available to borrow as well that's usually we'll see tomorrow if shares become available to short tomorrow you know that they're definitely selling shares into the market so that'll be our confirmation in my opinion the trading pattern look like selling shares so let me ask you this before you head out uh chewy obviously we had a run since he posted that Meme photo of basically oh I'm not playing with Chewy and Chewy's being thrown off to the side um I like to think that he's probably still in chewy now I don't really know what to make of what he's uh signifying here uh maybe it could be a fake out maybe you know the Cycles are going to kind of slow down when it comes to chewy um I mean what are your thoughts do you think that he's allocating money as well into chewy as well I see a size here for 3750 uh but this is a cross and this was maybe multile was stopped at a price and trade in two-sided cross him so maybe not him but what do you think about the chewy side of things do you think that he's still playing chewy do you think he's faking people out I mean what are your thoughts I don't know what he's doing my guess would be that he sold most of his position um because you kind of see all the option activity that drove the price today was full on institutions in the options Market there was no Auto trades that were large on chewy in my opinion it was all s slcm or sland trades if I oh you have it pulled up right here I didn't even look at the screen yeah yeah I have the trades right here so it's like those are institutions like those are not like that's not roaring Kitty at all so I mean I I have no idea what he was doing over there at all um there's obviously a method to his madness here I mean if he comes back with a larger War chest War chest and gets to Reby at $20 with more money there's just more contracts that he can buy so I it's hard to speculate right I don't I don't know enough over here um we won't know until we we see a filing as well that he's disposed of his shares if he goes under that 5% threshold so yeah I think that I think we wouldn't see it until the 16th I think what I've been 16th yeah because I think that Meme was posted no what how many I think I have it [ __ ] if that's the 16th and he and he entered or he exited and is entering already into GameStop that could probably coincide very closely with the completion of the ATM and a full entering into his GameStop position um that's a pretty good timing I didn't even think about that this was it right here actually um it says 13d 13g change we would see that 916 yeah if he did sell them on 906 we would see a file in form 916 so and you and you were saying what in terms of the 916 date biggie I was saying with based off the current volume in the active ATM uhuh it times out very well for him to enter into a call position into GameStop and then obviously the news would hit the market ATM is completed right around the time this 13g file or thir yeah 13g was would be filed that he has exited chewy x amount of days ago which means obviously you'd probably see a YOLO post right after that would be my guess okay so 16th is uh 16th is next Monday and then that could actually line up I don't know I like it man you know there could be a real possibility here with um that you know that could be what we're dealing with here so um biggie uh any uh closing thoughts man that you'd like to uh leave for the chat here tonight we're all ears uh let's hear it uh biggie uh that's all I got I just got my eyes um on the option chain for the next few days it'll be interesting to see if anything happens I on all right cool well you heard it from biggie tonight uh chat let's get some love for biggie on his way out biggy appreciate having you here at the show and uh chat let's get some love for biggie on his way out take care man see you see you bro all right you heard it from biggie I don't know you know I think he could in fact be on to something here right with like the raising of capital and kind of what's going on in terms of you know these new Notch uh these new Notch kind of uh references right I don't know you know I I tend to like uh uh biggie a lot I think he's a great dude uh very intelligent individual and um I do think he could be on to something here so um again I I personally like it so all right let's take a look at um let's see where we're at um all right so yes okay yeah why don't you take it away for us with taxes I I also would really like to take a look at your financial sheet of the ATM for IEP if we have time to look on yeah you're looking on my word computer I have yeah because I I you know uh Travis has been tracking a lot of the volume now again this isn't like 100% accurate you know obviously there's there's some issues with the data because it's very hard to say how many of these are actually coming from the ATM cells um go ahead Travis well we I mean we can touch on that based off what you know biggie said you know you're looking at 3x 4X what the volume is I mean we we could play into that but I could show everybody like I can say for a fact that the at the market offering is not complete as a but we we can touch on that but I I do want to get into taxes I've had quite a few people reach out to me asking me hey their 1040 extensions are coming due soon and they want to make sure they get them done on time and I'm like okay I want to touch on it and I don't want to give tax adice advice because I I don't like taxes I've got away from taxes 12 years ago for this reason and went into corporate accounting but I do know more than what maybe the average American might know about taxes and just want to give some guidance on what you can and what you maybe want to do or should do now I did touch on this uh six months ago maybe more maybe less around the time where people were filing taxes and and this isn't 100% related to Bed Bath and Beyond shares that were cancelled uh a lot of people got their you know uh they their forms from Del Schwab you know you you name it E Trade whoever you might have be working with and whoever your portfolio might be with and I wanted to touch on this on what you need to do or what everything means so a security that is deemed worthless actually let me share my screen yes and that way we can touch on at least a few points here okay so a worthless security is any share or stock of a corporation that is basically deemed worthless in the way the Bed Bath and Beyond was deemed worthless and the way it was cancelled now you have an ordinary loss here and a capital loss the big difference is going to be shortterm long term think of it that way that's the easiest and simplest way shortterm is if you bought in 20 23 it's going to be shortterm and if you bought before 2023 it's going to be considered long-term or long-term capital loss um a security is deemed worthless or I'm sorry a worthless security is deemed to have been sold on the last day of a taxable year so you may not have a sell date on your Bed Bath and Beyond shares but if you choose to claim them on your tax taxes for 2023 you want to put them as a0 sell on the last day of the taxable year so if you bought January 1 2023 you sold on 1231 2023 it's an ordinary loss and will be taxed at your ordinary gains or your ordinary tax rate if you bought before January 1 2023 on those shares it will be considered a long-term capital loss uh and again it's deemed worthless on the last day of 2023 of that taxable year now I've had a lot of people ask me should I claim the loss should I not that is 100% up to you you don't have to and this is where the tax code has a lot of gray area and it's pretty interesting that you you have every right to claim the loss up to the three or I'm sorry up to the $3,000 maximum uh of ordinary short-term long-term capital gains or short or ordinary loss on on Securities on your schedule D on your taxes but you don't have to if you do claim them that's okay just make sure you don't claim them as uh abandoned Securities you're not not tax advice either goad this isn't tax advice this is more of a a guidance to ensure future collections this isn't advice and I'm not advising anybody to go do what I tell you I'm trying to provide you with several different options here so option a you claim the loss for 2023 if you claim the loss for 2023 personally and this is just me I'm not going to say that I abandoned my Securities what I'm going to do is say they were deemed worthless and with that I'm going to put them at the LA as if they were sold on the last day of the taxable year regardless if they're shortterm or longterm or when I bought them and the sell amount is going to be zero so I can claim basically the entire loss in that year if I do that you know my losses are up at maximum can be claimed up to 3K and of course your losses are offset by any other gains of any other Securities you may have had or any other trades you may have had option A is you're claiming them and that's what you you can do option b is you don't claim them if you don't claim them for 2023 that's okay you don't have to however if you don't you need to become your own Brokerage in in essence and when I say that I mean you need to track every time you purchase the shares the date the price the quantity and the dollar amount that you spent and you need to keep a ledger of this for a future tax year now option A is you go ahead and claim the loss then when you do sell or I'm sorry it if or when the the shares come back you have to claim a$0 cost basis because you've already taken the loss for tax purposes so that's something to keep in mind your gains in future years will be offset by the fact that you have a Z cost basis if you don't claim your losses in 2023 then you will have a cost basis based off the own Ledger that you keep for future taxable years so that way if they say hey these shares came back and you sold it for you know $1,000 a piece that's cool I bought it for seven cents a share where if you go ahead and claim the taxes this year hey you sold the shares at $1,000 a piece okay I had a0 Z Cent C or cost bases and that's going to be the difference so for a lot of people out there who are wondering what should I do go ahead no go ahead finish and then I'll add on oh I was gonna say for a lot of people out there asking what they should do I'm not going to give you tax advice I'm going to say do what you want to do if you want to claim the loss in 23 go ahead your taxes have nothing to do with your ownership of the worthless of the Securities that were deemed worthless by the company they are not related in any effect whatsoever you still have ownership at your brokerage on The Ledger so in future years if they come back when they come back you will get those shares back because your brokerage still has those on The Ledger that you still had that amount of shares that amount that quantity your cost basis will be zero if you claim the taxes now your cost basis will be whatever you kept on your Ledger for future tax years if you don't claim them for 2023 yeah and I always assumed and well said man um I've always assumed and have always understood it by the old Equity is cancelled so we can take a loss on it and because it's not necessarily going to impact when we get new equity in a new court but again like you know when like me personally when I kind of dealt with it with my accountant um that's the way that he pretty much spelled it out for me so uh you know I'm not really too worried with with how I filed it at the end of the year personally yeah and and and personally I went ahead and claimed the loss in 2023 why because it's basically the government giving me a taxfree loan for now why not in an interest free taxfree loan for now they're letting me claim uh you know an extra loss on my taxes for 2023 so I can mitigate my taxes in that year sure I don't owe any interest on that for the future year so of course I went ahead and claimed them did I claim abandonment absolutely not and I won't yeah that's that's not what you want yeah yeah and I won't do that but that's me personally because why not it's a taxfree loan an interest free loan from the government of the United States of America come at me because I'm paying my taxes upfront and usually I get a little refund at the end they're getting interest free loan from me for the remainders of the year why can't I get one back that's how I handled it but to each their own do your own due diligence if you have questions DM me tag me in a tweet go ahead I'm all ears and chat if you have any questions go ahead however I will say that I was just given an important message that I can't stay on too long because I have something very important to handle at home so I'll probably be on for only maybe five or 10 more minutes chat close up soon anyways it's already 8:40 so it's fine I was gonna say chat um if you have questions hit me up in the chat I'll try my best to respond or I'll tell you to DM me on Twitter so we can chat on Twitter and I can go into further detail um okay sounds good um all right so before you leave uh uh tonight Travis I do want to take a look at the IEP stuff if you do have it readily available if we can take a peek at that oh oh yeah yeah let me pull this but well said in terms of the taxes again seek a tax professional man if you're still out there you haven't filed your taxes or things like that or when it comes to uh you know what you're kind of feeling like in terms of like claiming this loss or not on your taxes please seek a professional CPA all right these people are very well-versed in all these tax kind of professions things like that uh so again they're the ones who are going to give you actual legitimate uh tax advice again Travis is really just um explaining in his own opinion um you know what he believes in terms of some of these taxes and things like that uh so please keep that in mind um okay let's take a look here uh yes run us through the IE stuff and then we got like maybe two or three posts we're going to cover very quickly and then we'll start wrapping up the show here soon uh take it away for us Travis yeah I will not be able to stay around from that and I basically told I need to get off now and I said three minutes so I all right at Le at least give him tell time to I all right tell her that for me this this data came from Yahoo uh or finance. yahoo.com I was and I did this midday I don't know what the volume was today but we'll walk through it here's the date the open the high the low the close the adjusted and the volume yes I'm taking the average price of the high and low of course it could have traded at the lower end for most of the day it may have traded at the higher end for most of the day so I'm just taking an average of the two to kind of come with the ballpark number I'm also taking the volume time average price to get how much they could have raised if every single trade was a sell and that is how I get here so I took every day from their at the market offering until now and the max they could have raised if every single share of this volume was a sell was 319 million and that was only midday today I I did not update this through the end of the day of course and I need to update it along with these and the current price but this is a ballpark midday today this is where it was they're at the market offering total was 400 million and the difference between these two numbers means they still need to raise 80.8 million shares at the time the current price was 9.95 80 million doll not shares yes8 $80 million of my apologies um the current price at that time was $9.95 that means that they would need to raise or I'm sorry there would still need to be an additional $8 million of volume at the current price for them to complete their at the market offering now biggie said it best and he said it earlier you usually see 3 to 4X what the volume is to complete the NAA Market offering if we do that and I'll just be conservative and say three times we are looking at another 24 million of volume that needs to occur before the at the market offering is going to be complete and if they're selling these shares into the market and it's decreasing the price I would still expect the current price to come down my price target for entry actually no I'm not I'm not gonna say it um but it is lower than this I would expect the price to continue the next several trading days um pay attention to volume any large spikes in volume you might want to get in because once the at the market offering is complete the price is likely to Skyrocket they typically do uh this isn't financial advice and everybody hey place your own bets and you know use use your funds wisely and do your own due diligence but I do believe that we're looking at somewhere between another 8 million to 24 million before they're at the market offering is going to be complete maybe even more so I want to add something for today's date you have their 615,000 in volume the volume today ended at 1.4 million all right what the what was the closing price it was uh 1.49 million is probably better um the closing price today was uh closing was 10:05 yeah so you're still looking at somewhere between 7 million and 21.5 million not a lot of change there I again watch for high volume days if you see high volume days in the price tanking they're probably dumping shares in the market it might entry point again you're looking at a stock trading at $10 per share offering a $1 dividend per quarter that is a for investment I don't know if that's unheard of that's unheard of I don't know if you can find a better investment in the market right now other than the the only idiosyncratic risk knock out there um with that I'm going to have to unfortunately bounce out I have go handle some family business guys but I wish everybody a good night uh chat if anybody has questions on taxes hit me up on Twitter DM me whatever but unfortunately I got to bounce early all right Travis well we loved having you on the show here tonight man enjoy the rest of the night it's always a pleasure to see you here tonight uh chat let's get some love for Travis on his way out and hopefully Travis we see you Friday maybe we can have a couple Brews and see what's uh going on at the end of the week if not we'll see you next week man all right sounds good sloppy Michael ABC anasta P good night take care buddy see you good night brother all right you heard it from Travis man excellent stuff PR to IEP so uh we don't have a lot of time left about 20 minutes I know there is still a lot of stuff that we have not covered today that I want to try to Breeze through now I know ABC wanted to talk a little bit about the BBB Canada which I will let him do in just one moment um real quick I just wanted to highlight a couple things here give me just one moment there's some really important stuff that I don't want to we'll save the BBB C St for Friday P okay all right that sounds good um okay so obviously I just need to uh show this to everybody there we are expecting an HBC response into October 2nd uh that is very important as you see here this was filed uh yesterday you guys should be able to see that on your screens let me just yeah you can um so it does say here that they are looking uh B basically says re represent uh defendants of HBC Investments LLC and the Hudson Bay Capital Management LP together Hudson Bay in the above caption matter we write in accordance with your honors individual rule to G to respect the request a brief extension of Hudson Bay's deadline uh to file its reply uh brief in support of its motion to dismiss Hudson Bay replies uh brief is currently due uh on September 27th but they have asked to extend this uh into October 2nd this is the first extension uh that Hudson Bay has requested we have conferred with the plaintiff's council who informed us that plain consents to this request so I don't know why they need so much time to respond to this [ __ ] um but obviously we are looking at another uh one two three weeks three weeks to go until we find out what's going on with HBC so keep that in mind all right let me pull up uh okay so you want to save bed bath Canada um oh yeah actually ABC I'm glad you're here tonight I actually wanted to show you this so this was actually last night uh I was going back and forth with a user here uh drr 4 G3 and he was basically uh he was basically explaining about the remember how we've been kind of speculating how Larry Chang was able to make these purchases and things like that um well it turns out he plugged this into uh uh grock chat chat GPT he says does Larry Chang have one of these plans with GameStop and what he had asked it prior is that um he said Can an Insider have a plan purchase agreement regardless of aemerge an acquisition it says yes an Insider can have a pre-established trading plan uh plan known as a 10b5-1 plan which allows them to buy or sell shares at a predetermined at predetermined times uh this includes even if the material non-public information such as a potential merge or act quisition comes to light the plan must be established when The Insider is not aware of the mnpi which is the um non-public info and once the plan is in place trades are carried out accordingly to its terms regardless of any future Insider information this provides a legal Safeguard against Insider training accusations he goes on to ask does Larry Chang have a 10b5-1 because obviously you know how a lot of these like alos things like that and these chat gpts and [ __ ] um they Source all sorts of information all across the web so if there was a filing like this and we don't have access to it maybe it is most certainly somewhere on the web it was able to rip it from yes Larry Chang a board member of GameStop has utilized a rule 10b5-1 planned for purchasing shares this type of plan allows insiders to set up predetermined transactions which we have been seeing from uh Mr Chang which are executed regardless of any material non-public information they may possess such as potential murders or acquisitions his form four filings from 2023 and 2024 indicate that several of his transaction including recent purchases in July in September were made under such plan ensuring compliance with insider trading laws I mean it's right there thank you that has to be okay so ABC was was right I mean he's under you know obviously the SEC filings don't indicate they were pre-bought but he does have a rule 10b5-1 of according to what this is saying here so I don't know you know this is this could be very real here yeah and when you're filling out the forms basically you're going to illustrate what a third party acted on your behalf which Larry has done each and every time and you do not have to check the button saying that this is a 10 B5 one it says with the SEC that they suggest you check that button off which will prevent any civil suit or people coming after you but it's not obligatory for the filing the other thing to look at it says right there July in September there was one quarter where he did not buy but he doubled up in April and so he bought 10,000 shares if you look at his pattern of behavior and that's why I believe it was always a prescheduled is it's 5,000 shares every quarter a third party is doing it and there was even a blackout period that we thought GameStop was under for about six months there where everybody's profile went black and everything Larry did not buy his shares at that quarter and I'm going to say he went the extra mile by not allow by not engaging in this prescheduled but he waited until after the earnings in the spring and then bought 5,000 and 5,000 to make up for the qu that he missed so for me it's always being pre- scheduled purchases and that's kind of avoided any no other board members bought because I don't think have this ordained pre-schedule and all you have to do is write a letter to the to the treasury of the company saying I wish to buy this many shares I'm going to buy it around this time every quarter whatever it is and long as that's on file you're fine even if there's mergers and acquisition as you file the sheet well before any material non-public information as long as that signature was there right before that material public information came into his hands you're absolutely right that is uh most certainly it Leroy is poting in the chat here Roy I got your post ready man I already see him in the chat here talking about Grove trust me man I'm two steps ahead I got it right here for you Leroy okay so Leroy has a very very good um explanation regarding also what's happening so obviously we see that there could be potential with the 10 uh B- uh whatever the [ __ ] you go goddamn call it um uh pertaining to Larry changen but Leroy actually has a very good explanation why Mr Mr Chang is doing what Mr Chang's doing all right Leroy says does Larry Chang have a non-compete agreement with Grove that bars him from participating or investing in direct competitors like Bed Bath and Beyond think about it if gme owns the bed bath quebe bonds or they're a creditor in some degree um or or whatever it may be okay and or Bed Bath Q shares then that would explain why Larry Chang isn't part of the gme investment policy as well as why he the only board member buying GameStop shares now um I will say still to this day it's it's very bizarre right that uh insiders just stop all of a sudden buying in October two months go by Larry comes to the peee show jump another uh couple months from there what is it four months after that so six months total is when Larry officially starts buying so maybe there could have been also a blackout period for six months that he could have been a part of as well during that time but as we know the entire Board of GameStop has not bought the security in nearly one [ __ ] year okay next month officially marks when insiders stopped buying over a year ago besides Larry Chang Larry changen here somehow is the Wild Card whether that be if he signs something that allows him to uh via the SEC uh to make some of these trades or maybe it there is a direct uh uh connection here when it comes to Grove right um it says here uh where was it oh yeah then Michael actually posted this with Grove did you hear Grove has bed bath products which I I thought they were a [ __ ] phone company like a network or something for phones I didn't know that that's us mobile so Grove my apologies yeah yeah I gu I think that US Mobile which he he's on the board of I think that that will be part of it because they need to have physical locations and GameStop used to used to have Spring Mobile that's what tiger Global Management you know carved out that was I don't want to say they're Crown Jewel but you know it was definitely the the Cash Cow of GameStop and that's why they had the confidence to short it is because once they got rid of Spring Mobile then it was it was vulnerable yeah it's very interesting um you know kind of analyzing this what do you think ABC you think that this could in fact be preventing him in some way it I like it but my only issue is is you're open to interpretation because if Larry's not on the investment committee but he's part of the board of GameStop and he's involved and this guy's a an amazingly bright individual um you know he even came to your show you you've got a situation now where the the the the proof of if uh Larry knew of any m&a information would be so open to interpretation whereas if it was just as simple as look it I filed a pre-scheduled purchase agreement six months before we even started talking about a merger and acquisition it's off the hook there's no interpretation the SEC understands those raw they've already put those laws in place that directors can do this but to have it like an NDA and he may not be part of the board and that's why he he's able to buy stock now you're getting into kind of this did he know of any um material non-public information it's it's almost like there's too much to prove in uh the innocence of it yeah so I love Leroy's idea I just I I kind of go with sometimes it's just a simple way and even grock confirms it I've went to the SEC sites and I've looked at it I've asked grock too and that was actually why I came up with part of the thesis too is simply that it makes it just pure and you know what there Ching is one of those organized [ __ ] intellects that just got everything in order he's that type of guy that do stuff on a scheduled basis and buy his shares and and and be a financial asset to himself by regularly buying in the company that he's building so it just matches this personality too to have a prescheduled uh purchase plan on place I don't know absolutely and then when you factor in like dragonfly and all this stuff I mean he is like the closest Confidant when it comes to RC no matter what right I mean just the fact that py was able to get him on the pp show um I can confidently say that he probably had to get some kind of clearance probably from from Ryan Cohen most likely because he really like respects the guy right um these are two individuals that uh basically built up chewy uh from nothing right so I don't know you know I think that these two are uh very close you know I I think that uh not only are they obviously business partners I I think at the end of the day they are good friends and you know um it would be very bizarre how Larry changen wouldn't be involved in the investment committee right considering their history and things like that how how intelligent he is he's a very smart guy a great asset to have for the company um but there could be something involved here where he's just not able to right I mean if we are correct that you know um Bed Bath and Beyond GameStop IEP all of these stocks have something involved here to uh you know forming some giant conglomerate of a of a of an Empire or a company or whatever it may be you know there could be a couple things in the way that kind of prevents him from being a part of that um but yes I mean I I think it's highly interesting um and again like you know I don't think enough people really focus and hone in on him being the only Insider who's able to buy this security some way so and and there's there's I want to say loopholes but uh you look at El certon right they own a lot of different companies or big portions of companies that are synergistic right like they they have a big uh position in in Evergreen shipping so you know that ships a lot of their products that they have so there are conflicts they I think they just have to navigate him right and I I see that several companies that that Larry Chang's involved with would synergize really well Grove would synergize with Bed Bath and Beyond um and you know and with bye-bye baby and then you have Spring Mobile would synergize really well with GameStop MH which yeah which I think is right around the corner because the the starlink is it actually operates on 4G LTE so I I I thought that the new phones would have to have some kind of new special satellite thing but it's actually just a regular 4G LTE kind of network and so it's possible that the new AI chips inside of Apple will help navigate like signal because they said that that's the one problem is that to make sure that it can handle that many different uh users but I could totally see starlink and US Mobile and GameStop you know defin yeah definitely I mean it's going to be amazing you know that you know think about where we came from what GameStop is to what it is now you know nearly 50 years ago to today and you know I'm very happy that there are few companies out there who have the leadership like they do like GameStop the leadership like ie right um you know it's just to me it's very rare you know a lot of you know in this day and age you have so many companies out there with these piece of [ __ ] CEOs who don't give a [ __ ] about their shareholders um they'd sell their [ __ ] goddamn own mom out man if they had the chance to and to be honest with you you know uh these people like Ryan Cohen these people like Larry changen these people like Bill py these people like like Carl icon um you know in my opinion there there's very few of of leaders that are like this who Tru care about the shareholder at the end of the day so you know I'm proud to stand behind these guys I'm proud to invest my money uh uh between you know uh Within These individuals and the companies that they're running because at the end of the day I truly believe man um that we will make it you know every single shareholder out there who's in the basket um I think will make it at the end of the day man and and to be honest with you kind of listening to Biggie tonight how he's kind of describing what's going on here um this is going to be absolutely catastrophic when it comes to short sellers out there and getting absolutely uh [ __ ] wrecked and liquidated and to be honest with you you know if we could bankrupt a couple short hedge funds along the way man I think we're doing some good work here so um real quick I want to take our attention here to t0 I'm sure you guys saw it uh t0 receives a landmark approval to custody digital Securities and support endtoend digital Securities life cycle in the United States approval of special purpose broker dealer for digital for Digi assets uh Securities custody uh did you guys have an opinion on this um uh this new thing that dropped pertaining to t0 also I've been trying to get the guy from t0 on the show I'll reach out to him tomorrow and we'll try to make it happen the next few weeks he said that from what I recall the last time I talked to the guy from tzero um he said that uh what was it that they like they were waiting on something before they could come to the show I have no idea what he's implying here maybe they have something that they need to release before coming to the show here but um that's what I was informed of uh what are your fellow thoughts on this TZ article here uh yeah I think this is a critical step if we're talking if if we think we're correct about uh going onto the blockchain for digital securitization of assets then this is like probably the most important step this might be I don't know if there are many more steps until they can actively like put up you know company Securities uh on their platform but this seems to be like I'm looking very forward to January because that's when I think they're going to get this uh set up and ready to go and this is just the I don't know if it's the last Turtle I it's I haven't really looked that much into t0 but it's definitely a big one so uh any of you other fellows have an opinion on it if not I'll go to the next um thing here no it's it's it's basically the end to end point so basically t0 can stand on its own it's registered recognized by The Regulators um it's decentralized it literally has the ability to tie in Apple pay Google pay um it's a complete uh system within itself to basically buy and sell digital Securities it uses apis so the learning curve guys it's not like you have to run out and set up a an account on t0 it's just logging in through your current bloker when this does take effect and if I stand correct they were talking about early quarter 1 for it to be released so um in that sense if this does go live you're not going to have to go and learn the entire process it's just going to be logging into your current brokerage the only difference is is t0 on the back end with their their patents their technology and their their Fel licenses they're going to be able to basically mint and classify a digital security for you which is going to be your your unit or your stock and uh my hopes are that we move to this system and shitload of other companies join us 100% I mean and and uh Overstock doesn't outright own tzero anymore right no it's on its own entity it does have a majority ownership I know ice has a stake in it uh Michi micii I think is called yeah Med and if I stand correct uh Overstock still has a 28% stake in the in tzo gotcha um all right and uh obviously this is the highlight of tonight in my opinion uh twl was able to find this uh if this was dead why is Ryan Cohen still registering Teddy holding worldwide not only that like bye-bye baby posting the teddy bear uh photo today too I truly don't think we're getting trolled especially with like looking back at GameStop posting all these [ __ ] butterflies at time and stuff like that I mean track back fellas all the way back okay before even bill py you know what was uh starting to um get himself involved with us we fly down there we do the show on September 25th okay four days later Equity is canceled or the the effective date takes place and then October GameStop starts tweeting about butterflies all the board members stop [ __ ] buying and our shares get removed from our account I mean you cannot make this [ __ ] up man you know coupling all this other [ __ ] that's G on Like Larry interacting with the show the guys from G uh Gemini protocol the guys from looping uh who else uh uh Bill PTY has interacted with us we've also had um a few others along the way so I don't know you know I do truly think that when Larry Chang said you know rooms like what you have today are going to be more powerful or more influential than Goldman Sachs that is a very very large statement especially coming from someone like Mr Larry Chang we can all agree man at the end of the day Larry changen is not oblivious to what the pp show is okay the amount of times I I've hounded him for questions on on uh Twitter about you know Larry why is all the board members not buying why is all the board members not buying finally in April he uh you know he throws his dick on the table and uh makes his [ __ ] buy so I don't know man you know I think that uh Larry changen is aware what the pp show is I think he's aware of what our community kind of talks about what we discuss and to be honest with you those kinds of words are very large coming from an intelligent uh individual like Mr Larry Chen um okay so real quick to full he says that this was updated on August 16 2024 uh this was uh is referring to Teddy uh it does say Services uh provision of an online Marketplace for buyers and sellers of goods provision of an online Marketplace for buyers and sellers of downloadable digital art images music and videos authenticated by non-fungible uh tokens educational and entertainment services namely providing online interactive child uh children stories and entertainment services namely providing online computer games entertainment services namely providing online video games providing online Publications not downloadable in the nature uh of news articles for children providing online non-downloadable uh Visual and audio recordings featuring children's entertainment and this was updated um I know it might be a little bit hard to see here I don't know if I can pull this up into a yeah here it is right here and you can see all of these things being filed when it comes to Teddy so I don't think he's given up on Teddy I think that most certainly Teddy is um uh going to happen uh how that is going to happen is really anyone's guess uh we all collectively have come together all of great minds man like AJ and all these other guys who have uh come to the show and uh given their opinions for uh over the year or longer uh and to be honest with you I think that we're on the right track here I think that at the end of the day uh roaring Kitty would have most certainly not given this show like a a shout out like he did using our intro music um posting like the backstage Kitty thing with like you know if you know you know uh type of [ __ ] I don't know man I think that we're on I think that we're on the Mark I think that we're on Target and I think that honestly um this most certainly will transpire when I don't know you know if I had to guess I would say probably this year uh but that's just a that's just speculation that's just a guess um but again you know I think that most of the deal is in fact done with where we're at today um all right let's go ahead and start wrapping up actually real quick uh on our way out there was one final thing here uh Lancer is saying in the chat I just found it Lancer uh very last post and then we're out of here guys um right here this was I think Michael was talking talking about this earlier uh in terms of uh preferred stock was included in the dtc's t+1 uh industry testing qips and here we have bed bath listed right here so Michael is this something that you wanted to build upon a little bit I know you had mentioned haven't seen that actually okay I thought you were talking about this earlier no but that is very interesting actually yeah the DTC stuff here um what the where is it right here uh they were testing t+1 functional changes to the ETF create redeem process ETF agents will perform uh the test by selecting create redeem eligible qips for the which they are the agent uh testing options exercise assignment OCC will utilize production data as of the Monday prior to the options expiration date with the identified testing CT plus1 when was this so it's November 28th 2023 where this was yeah I I just pulled up the p PDF because he linked the PDF right and bed bath is listed right here that's insane cuz so so this kind of proves the point that it's probably in there in some kind of sandbox so they took it because back in December 2022 they said oh for the upcoming mem stock event or no actually no it was it was December or November 2023 they said that they were preparing for the upcoming mem stock event and so this must be the testing that they were doing and so if they if our Shares are in some kind of sandbox where they were cancelled but we have new shares within a trust or whatever they might be doing the simulation to see how they can make sure it doesn't crash the market that's really cool yeah this is very and and when they were in bankruptcy they were mentioning talk of like uh idiosyncratic risk were they not remember uh remember Glenn was talking about it in court oh actually yeah I think so idio syncratic I think is what he said right did he say that about bed bath or was that just gme no that was that was literally in bankruptcy court for Bed Bath and Beyond he mentioned something about someid idioc satic risk or something I don't [ __ ] know you had to write the first time yeah [ __ ] it up man so but you look at at this list and there's birkar halfway on there and birkshire halfway had a glitch that's crazy yeah um Dre fuse Dre fuse is on here that's interesting you have black rock um interesting with f yes yeah this is this is interesting I'll have to uh uh take a look a little bit more into it um uh a little bit out bumper says Idiot risk yeah right on all right let's go ahead and start wrapping up the show there man we'll call it a night um all right let's hear it man let's take it over to Anna sah Anna sah give us some thoughts man um as we start to wrap up tonight's show this evening uh what would like good people at home to know Lancer says look at the comments PP I actually just closed it but um I will pull it back up on Friday for sure Lancer uh just remind me in the chat I'll have it ready we'll take a a closer look at it um go ahead Anna Sara let's hear it tonight and then yes I see these tips here I will catch up on these last tips on the way out go ahead an uh very good DD from biggie I think his theory is pretty accurate I think uh if what he says will happen tomorrow happens then I I'll consider that to be something to keep in mind for the future and maybe we might see this kind of activity on chewy or maybe other stocks as well right uh I me I don't know it's interesting right like we but we'll see I guess we'll see you Tom all right cool you heard from Anna Sarah Ana enjoy the rest of the night appreciate having you on the show chat let's get some love for Anna on his way out thanks guys see you next time take care man all right let's take it over to Michael Michael what would you like the good people at home to know man as we start to wrap up tonight's show let's hear it I mean there is a lot of exciting stuff happening I do think I like Biggie's idea that it it they know that there's going to be big buyers that are going to want to buy in and I think that we are going to see today and tomorrow we're going to see a huge flood of big big call option Buys in in or near the money um I also think that the stress testing thing is is has to do with us I'm just looking at it right now and there's you know some credit swe stuff and so they have to try and unravel that gordian not and it would make sense that they would have to simulate it and that they would in order to simulate it they would have to have the cat system active so they could see where all the shares are or how many are really out there and then you know because You' have to know whether there's collateral who has it what can be liquidated what would possibly H because what would happen if you if you started margin calling a lot of hedge funds I mean we we joke about it as if it's like no big deal but like it could it could really they'll shut the [ __ ] Market down like they will probably shut it down and make up some [ __ ] where this is like a a crisis or something and they'll try to [ __ ] us any way they can man you know but I don't think they can stop this necessarily even if they shut the market down due to something like this you know it's look I didn't place these [ __ ] bets they did and if they placed a bad [ __ ] bet and the company didn't go [ __ ] bankrupt and they build a um a giant company like like Teddy they become a holding company that's on them for shorten the [ __ ] stock and not believing in it not me so but they have to like you know certain institutions right like JP Morgan they debanked OK bet which you know has a huge position in Bed Bath and Beyond and GameStop that's like his whole position so why would they get rid of that that be it just wouldn't make sense unless it it posed a risk to their company and so I think that they're trying to shuffle around this risk so that um the institutions that would be critical because if they got margin called they and had to dump on onto the market a lot of other Securities it would cause their stock to go down then everything within the whole banking basket would go down as well even if they even if Goldman Sachs was the only one but I'm sure Bank America I'm sure they all have short positions so it's like they have to like get rid of those into some kind of uh you know sacrificial you know scape be [ __ ] man and then let it fall yeah um not only can you see the liquidation of tons of short sellers you could most certainly see the liquidation of tons of like [ __ ] large Banks too man so um all right with that being said Michael loved having you on the show man hope to see you Friday chat let's get some love for Michael on his way out take care man see you all right let's take it over to ABC ABC let's hear it tonight what would you like the good people at home to know man as we start to wrap up uh and we head out for the night man let's hear it yeah I appreciate biggie cus I I I definitely think that this is what it's all about is time and pressure and you know based on the algo that you know the other side is basically bragged on national TV saying oh we control the price you know we get to determine the value of a stock and nobody can outsmart the Alo well I think we're now at a time in place where some very very Savvy activist investors have had enough of being shorted into the ground and watch their company and their shareholders and the employees be suffer from all the consequences of this kind of Nefarious type of manipulation I think cat was brought in at a specific time ironically it's called Cat dfv shows up at a certain time you're starting to see calls and pressure and and acquiring of shares and companies especially in the xrt basket uh whether it be Siri and chewy and GameStop or the potential bed bath to come I think there's literally a slew of basket stocks that now have this bubbling pressure inside and once one of them goes they're going to start to have liquidity and they're going to use up all their ammunition and then you start announcing mergers and Acquisitions it's just going to dry up their powder um and then when the tide goes out you'll see who's standing naked and we move on to a bigger and better system is my hope cool all right well you heard it from ABC tonight chat let's get some love for ABC well said man love the stuff you uh had to add tonight and hope to see you Friday maybe we can dive in a little bit more into this Canada uh BBB stuff and uh uh dive into it then so chat let's get some love for ABC on his way out ABC Lov having you here and enjoy the rest of the night my man cheers brother take care there you have it man the [ __ ] PP show we got together we talked some DD hell uh even biggie a few of the other Fells man like ABC sloppy Michael uh showed up tonight to lend their opinions again you know I think something is happening here right I mean biggie kind of lays it out very clear you could have a scenario here where the company could dilute here and there raise more money but find additional floors right and it's really it's like in that sense you know does it really matter if the stock is being diluted if the stock price is continuously going up I don't know you know I I guess that's Up For Debate um but again you know just because there's some dilution things like that um I think that uh I think that Ryan Cohen is in fact a great CEO I think he's a great dude I think he's a very very intelligent guy I mean this guy came from basically nothing man his dad was a business owner um and you know he built chewy and he built one of the most successful companies um that millions of people use every day man you know and now he's the CEO of a company that millions of of Gamers go to to shop at man so I think we're in good hands man you know uh don't let these people out there get into your head about like Ryan Cohen being this like piece of [ __ ] and this and that it's all just a bunch of [ __ ] man um I get it emotions are in the air people are mad they're down money I get it man you know I 100 I'm there with you I I you know I'd love nothing more than for the stock to be over 500 600 thousand dollars a share and just continuously go up but for that to happen there has to be a process and for that process to occur we got to trust the goddamn plan fellas so with that being said we're going to wrap up the show tonight uh last tips on the way out we got Lancer with a two uh Bed Bath and Beyond uh ybbb post X you reposted look at the comments yes uh I will dive into it first thing on Friday Lancer uh salty appreciate the two by the way man salty Liz with the two I'm here for the coke babies that Michael promised and we also got alarmed out there with the pp membership for 16 months appreciate your support respect for The Daily Grind at PE show right on man uh appreciate the love so with that being said I hope you guys enjoy the rest of tonight appreciate you guys tuning in man whether you watch or donate whatever it may be I appreciate having you guys here and hearing our opinions tonight so that being said we'll leave you guys off with a dildo slap on the way out I think the next time we'll be getting together is uh on Friday uh I know Michael has been kind of trying to run the show on Tuesdays and Thursdays it's a little hard when you're there on your own so um what I'm planning to do is uh give me about a a week or so maybe two or less and uh we'll go back to 5 days a week here at the show including me so that I can help Mike a little bit on those Tuesdays and Thursdays and we can kind of get some things flowing man I think we need to put our [ __ ] pedal uh or our um our foot down pedal to the goddamn Metal Man uh it hit it head on so five days a week will be coming back soon uh until then we'll see you guys Friday so uh last tip on the way at J&H on the way out with the five dicks out for uh Heron GED all right yeah but it's not spell harambe it's spelled haran GED or something all right enjoy the night enjoy the dill stop with way I will see you guys Friday bring the drinks man we'll see you then love you all peace [Music]