I am delighted to share this extremely important news with all of you. AMC has successfully raised $325 million of new equity capital through the issuance of 40 million shares via our at-the-market equity raise, which started September 6 and which now has been completed.This material increase to our cash position means that any talk of immediate and imminent financial collapse right now by AMC is moot.
We still have many challenges, including Hollywood must resolve the current actors and writers strikes. But regardless, AMC is now a much stronger company given our increased level of cash.
Like you, the coming together of AMC common and preferred stock along with the reverse stock split in August decreased both my number of owned and granted-but-unvested AMC shares/units. So, I currently have an economic interest in more than 800,000 AMC shares now, rather than the more than 8 million AMC shares and APE units previously.
In turn, that means I personally experienced the great pain felt by all AMC shareholders at the recent decline in our stock price.
Looking though to our clearly having extended AMC's viability, it is comforting to know that AMC has strengthened our company by so significantly increasing our cash on hand.
Jon Stewart highlights the fear that the SEC, FINRA, and the rest of the government have towards Citadel, while the "Apes" show no fear and continue to expose the company's fraudulent activities.
📸 : @jonstewart / @TheProblem
10,000 people have signed a petition calling for Ken Griffin to be investigated for fraud and his corporation to be completely banned from the markets. This is the same individual who is reportedly backing @GovRonDeSantis to become president.
https://t.co/xHgsR1dV9F
UBI for low-income households in CA-30:
Here's some math. There are about 224,392 low-income households in California's 30th district.
A low-income household in CA-30 is $80,720 or less. On average, there are 2.5 people over 18 years old living in these households.
So, if we implemented a UBI of $1,000 per month, the cost would be about $361,596,000 per month.
How would we pay for it?
According to the Congressional Budget Office, A 10% value-added tax (VAT) would have likely generated $1 billion per month in CA-30 (food and medicine exempt).
This means UBI for low-income households would have cost just 36% of the $1 billion in revenue from a VAT each month, with much of it going right back to the economy.
The remaining 64% of revenue from VAT means there is also likely enough to support middle class households as well.
@GaryGensler@SECGov I imagine it’s a pretty nice place to “work” considering you guys don’t really do anything. If I could find a place that would pay me to do nothing, I say it’s a great place to work as well.
@NateDaddy33 @SenWarren They write the tax code then complain about people strictly adhering to the tax regulations. Why not do away with income taxes altogether and replace it with a sales tax. No more H&R Block or IRS really. Everyone pays taxes, including tourists and anyone that spends money. Done✅
@GaryGensler@SEC_Investor_Ed Market regulators are putting everyone at risk by falling asleep on the job and allowing corporations to regulate themselves.
One month ago, Jim Cramer urged investors to buy Silicon Valley Bank stock $SIVB, saying it was "still cheap" and has "room to run."
The stock's value has since dropped by 66% following concerns that the bank is on the brink of collapsing.
@vladtenev@RobinhoodApp I would love the ability to produce counterfeit shares of any company and sell them into the open markets. I know you only dabble in this but hmu if you can help.