ProText Mobility Inc (PK) (TXTM) News

J has posted his "doctrine of comity" tweet twice. What's the opinion on the tribe; happened? Example of comity per google certainly applicable. Thanks:

I'm holding all my shares. TXTM to the moon baby!

The several million share purchases at the close the past 2 days look like signature DrJ. buybacking. Did he not grant TXTM any shares in q3 simply to ebb the share price down to the trips again for another economy buyback? I apologize and hope I've not upset anyone with such material concerns. God bless.🙏

Got it. Thanks. Seeds past qs - reassurance. Unnecessary now? 🍕 hopefully.

No more seeds. Read the filings.

The explanations are helpful. Thanks.
So were more seeds added in q3 or not? That's all I care about as I try to intuit for myself where TXTM may be with regards not just to asset valuation, but to major moves. IMO.

I have no idea what this guy is talking about when he says volunteer crops are the explanation for having no cost basis applied. Volunteer crops are completely random, and are just a bonus for any grower. If you grow some tomato plants in your yard, some get eaten by birds, some fall off the vine and get stepped on, but out of all the circumstances for why seeds get into the earth and grow next season, none are intentional nor calculable. It is no coincidence that we had an initial gift of 15m seeds from Dr J, then 15m seeds went out and 60m came back. That is exactly the terms of the seed multiplication agreement. For every seed that goes out, four come back, which is a net profit of three seeds for every seed loaned. So, there's no "volunteer crops" associated with these seeds, and that is not a valid explanation for having no valuation attached to them. Whatever this guy is saying is wrong, misinformed, misguided, i dont know. The only reason the seeds have no cost basis attached to them is because the company has no cost associated with producing them.

Yes, on page 10 under INVENTORY, as i stated before, the value of the seeds is recorded at "historical cost", is currently delineated in the financials. Because historical cost (i.e. "cost basis") valuation is dependent on the expense the owner spent to produce them, and the 45 million were produced by an outside party per seed multiplication agreement, our company cannot immediately use those seeds as a part of the company valuation. In order to use those 45 million seeds as a part of TXTM valuation, TXTM needs to conduct an audit of the cluster farm that took the initial 15m seeds, find out all the expenses that farm spent, convert those expenses to South African Rand currency based on an average of currency fluctuations between the Rand and the Growers home country currency (if not in SA) over the timeframe expenses were incurred during the planting/growing/harvesting cycle, then try and include that in public reporting. It's a pain in the ass, and the time and money spent to figure out something so insignificant as a single transaction is non-sensible. I wouldn't do it myself. As for your desire for the company to follow up with a statement about their pan to establish the FMV of the seeds? A statement is worthless, i would never give a statement like that, I would just do it, let everyone see after its done. I expect at some point in the future, you will see the seeds assessed much differently. We are in good hands, otherwise i wouldve dumped and moved on, and i sure as shit wouldnt be on Ihub talking to anyone, but take that by the grain of salt brother

Are there any US company's having 100 m seeds in inventory? 
Dr. J is a unicorn. 
Just remove CE 

Volunteer crop seeds, which arise naturally without deliberate planting, are typically recorded at a zero-cost basis in accounting since they do not incur direct production costs. In contrast, intentionally cultivated seeds, such as finished Sativa seeds, are assigned a grower-determined cost basis—valued by Dr. J at $1 per seed—to reflect the expenses involved in their production. Reviewing Dr. J's communications, which mention volunteer crops and a multiplication program, suggests that these volunteer seeds are likely the origin of the transaction. This explains the discrepancy between the zero-cost basis for volunteer seeds and the $1 cost basis for cultivated seeds. Under IAS 41 (Agriculture), biological assets are measured at fair value less costs to sell unless a measurable cost or market value cannot be determined, making a zero-cost basis appropriate for incidental yields like volunteer seeds (IAS 41.12-13). Similarly, GAAP standards (ASC 905-330) specify that agricultural inventories should be valued based on incurred costs. Since volunteer seeds are not tied to any production effort, they are recorded at zero value. In this case, the grower, leeds, represented by Dr. J, assigns a cost basis of $1 per seed for cultivated finished Sativa seeds, reflecting the intentional and managed nature of their production. This does not mean the seeds have zero value, as they possess the same unique characteristics as intentionally planted ones. Value can be assessed in several ways going forward including establishing a market value that does not require sale such as a independent valuation or establishing value to items of close characteristics in the market. The seeds themselves are genetically stabilized and winterized and may have other unique characteristics which will add to thier stated value.

Volunteer crop seeds, which arise naturally without deliberate planting, are typically recorded at a zero-cost basis in accounting since they do not incur direct production costs. In contrast, intentionally cultivated seeds, such as finished Sativa seeds, are assigned a grower-determined cost basis—valued by Dr. J at $1 per seed—to reflect the expenses involved in their production. Reviewing Dr. J's communications, which mention volunteer crops and a multiplication program, suggests that these volunteer seeds are likely the origin of the transaction. This explains the discrepancy between the zero-cost basis for volunteer seeds and the $1 cost basis for cultivated seeds. Under IAS 41 (Agriculture), biological assets are measured at fair value less costs to sell unless a measurable cost or market value cannot be determined, making a zero-cost basis appropriate for incidental yields like volunteer seeds (IAS 41.12-13). Similarly, GAAP standards (ASC 905-330) specify that agricultural inventories should be valued based on incurred costs. Since volunteer seeds are not tied to any production effort, they are recorded at zero value. In this case, the grower, leeds, represented by Dr. J, assigns a cost basis of $1 per seed for cultivated finished Sativa seeds, reflecting the intentional and managed nature of their production.

Given that interpretation I'll stand corrected. Was there somewhere on the Q3 where that is spelled for non-accountants like myself? Does it clearly say somewhere that the value of 45,000,000 seeds is zero because .... ? That could be followed up by a statement about the company's plan to establish the market value of the seeds.

Second paragraph under INVENTORY, page 10 of Q3, "The Contributions were recorded as Genus Cannabis Sativa Seed inventory at historical cost to the Company’s
President and Chairman of the Board of approximately $1 per seed". This is telling you the value is recorded by "cost basis", the cost it took company/Dr j to produce them. The other 45 million seeds were received at zero cost to company/Dr J. Until the seed value is recorded by a different metric (audit, appraisal, FMV, etc) than cost basis, all seeds gained from the seed multiplication program will have a $0 value, while all seeds gained from Dr J contributions will be $1/seed.

Either way this reflects on the competence of the company. And lowers the confidence of existing and potential shareholders.
I wonder if the auditors will catch this.

Interesting. Are you wondering which figure is correct ie why they are different? Seems in error. Wasn't q2 $50 odd million?
Thanks.

Q3 report Page 2: Assets 55,000,000 dollars/seeds. Page 10 (middle) : "The company has 100,000,000 seeds in inventory."

It may take years. he said he’s working on a PCAOB audit so let’s see if that ever comes to fruition and take it from there

Where’s Parabolic? I’d love to hear his take 🤣 well, not really 🥴

Wow .. now $100 million seeds 😂😂

CE should come off tomorrow right ? 

😂😂

To the moon my friend, good luck!!!!

Lol already valued at more from audited financial. Please provide facts when posting.  Otherwise it's just nonsensical garbage 

he kept INSISTING for months that CE does not matter and this would be resolved before the Brics conference at the end of October and then when that fell flat, pretty much like all his outlandish thoughts the past two years, he pretty much went silent

Who even knows anymore with this company?

Mark my words, CE will come off and probably soon, but the stock will not get near a penny

TXTM to the moon. 

Well it's officially 2 years of excuses, whos ready to celebrate🤣😂🤣😂🤣🤣😂.

Question, how much money could you have made after 2 years if you weren't locked up in this mismanaged nightmare?

I mean what's Parabolic going to say at this point? All his predictions and ideas have failed and anyone with half a brain can see it now so he keeps that BS to his hopium discord full of delusional phyophants that will believe anything🤦.

Has Parabolic abandoned the thread? He's the only one in recent years who seemed insightful. I've always been on the outside of RSA's info loop; suffering deeply in the dark. I doubt Dr J has done what OTCM has asked of him. He needs to inform share owners right away on a public forum if doing so is necessary to up-list. Vague tweets from him recently such as one yesterday depicting an insider who leads a co to ruin from within, are troubling. Is that a reference to TXTM? Amidst its ages of opaque disregard & abuse, absent huge gains some here have boasted, I wonder. IMHO. FWIW. GLTA. Go Chiefs.

WOW even the pumpers have give up on defending managements mishandling of the company.

Guess they ran out of excuse for the dopey Dr...

TXTM 👀 👍️

Pulled this from twitter but man they nailed it!

The Dopy Dr want’s us to blame OTCM for our current situation🤔. But yet he hasn’t told us WHY CE was applied…weird huh.
CE states coming up on 2 years and he’s still looking to blame someone else for his incompetence🤦‍♂️.
Even if he’s right he’s had 2 years to FIX IT!!/quote]

bye bye buybacky?
buh bwye buybinky?

i guess all the big Talk was all BS now we are stacked in this POS , people who plumped this stock will pay via KARMA or the LAW YOU KNOW WHO YOU ARE !!

GUYS GUYS GUYS don't worry Dr. J said this is TXTMs year remember!!!! CE says ....🤔....🤣😂🤣😂🤣😂🤣😂🤣😂🤣 .... NOPE!!

Drip drip drip

Well said, no hate just facts.

Such a disgrace to hype this stock the first four months you own the company then allow it to sit two years CE without fixing Should have up-listed a long time ago if you couldn't get CE removed. Owe it to your shareholders

BRICS and Putin will save us🤡🤡🤡🤡

How are they going to be able to afford to perform their random acts of kindness at this point?? We give thanks 🙏 🤭

Generational wealth = 2 years of CE… good job J you’re killin it🙄.

Drip drip drip…

🤷‍♂️

A lot of negative stuff to say about TXTM, but not ONE positive post about your investment (ICNM). Hmmmmm! 🥴🥴🥴🥴

Ignore this post. I sourced it from X.com and its mistaken.

Oct 24 2022 Protext on X tweeted, er... announced,.. a brics stable cryptocurrency exclusive to TXTM. Thought it may launch at conference. Shit's old. IMO.

Are you in the US?

lol Dylon is only thinking about helicopters, lambos and weird video clips

What goes around comes around. 

Not to mention the systematic elimination of white Boer farmers & taking of their lands. The more radical elements of the SA govt turn a blind eye to this.

I wonder what Dylon is thinking about now?

https://www.africanews.com/amp/2024/10/22/south-african-minister-of-international-relations-hails-ties-with-china-ahead-of-brics-sum/


This has been a bad financial investment and now it’s becoming a bad ethical investment, I’m not saying the US has clean hands in geopolitics but SA is in bed with some terrible authoritarian killing machines. Humanity first?

https://www.yahoo.com/news/putins-dollar-problem-clear-display-090809178.html

Will someone that has the ear of Dr J tell him if he is going to make sure he brings some US dollars, would hate for him to get there and not be able to pay for anything

lol no brics will save this. Just keep waiting three or so more years