Patrick Byrne A concerned citizen who has been hunting the oligarchy and Deep State since 2004. My actions forced me to abandon recently my 2,000 colleagues at Overstock.com. Help them out by going to Overstock.com and making a purchase.

To OSTK Owners Who Might be Living Under a Rock: Vote “YES”

1 min read

Six weeks ago my former employer, Overstock.com, issued this press release:

Overstock Announces Filing of Definitive Proxy Statement for Special Shareholders Meeting

Seeking approval for enhanced Digital Voting Series A-1 Preferred Stock

SALT LAKE CITY, Dec. 24, 2019 (GLOBE NEWSWIRE) — Overstock.com, Inc. (NASDAQ:OSTK) has filed the definitive proxy statement regarding the shareholder vote on changes to its certificate of incorporation to facilitate its previously announced proposed dividend of Digital Voting Series A-1 Preferred Stock (“Series A-1 Preferred”).

“With this filing, we are another step closer to the issuance of a dividend of shares of Series A-1 Preferred,” said Overstock CEO Jonathan Johnson. “I continue to look forward to our shareholders’ chance to voice their support for this dividend in February. I am eager for the company to be able to issue the proposed OSTKO Series A-1 Preferred dividend in March.”

As previously announced, the company is seeking shareholder approval to change the terms of the Certificates of Designation for its Digital Voting Series A-1 Preferred Stock, OSTKO, and Voting Series B Preferred Stock. Shareholders will vote on whether to reallocate the number of preferred shares in order to pay the dividend on a 1:10 basis and to remove restrictions regarding the holding of digital shares. The company anticipates registering the Series A-1 Preferred with the SEC under the Securities Act of 1933 so that the Series A-1 Preferred will be freely tradable by non-affiliates upon distribution.

The proxy vote date, which was first announced during Overstock’s Q3 2019 earnings call, will be held on February 13, 2020.

The last time the firm tried to issue a blockchain-based dividend, “The SEC Crie[d] ‘Bazoomba!‘” and stopped it on behalf of their client industry. That is because (for reasons explained throughout DeepCapture) if it had gone forward it would have exposed the system’s “bezzle”, Galbraith’s term for the difference between what individuals collectively think they own in the financial system versus how much there actually is in the financial system to be owned (that difference being the amount that has been embezzled from society).

A YES vote on this new proposal will create a different way to issue the dividend that the SEC should not be able to Bazoomba! (Actually, they should not have been able to Bazoomba’d the last one, either, but there it is.)

If you are a holder of OSTK, please make sure your proxy has been cast in favor of this proposal. Assuming, of course, that you wish the company to be able to go through with its dividend, and thus potentially draw tens of thousands of owners into the world of security tokens it has created. Or if you’re curious about how many share entitlements of OSTK there are out in the world: I know the firm issued 37 million shares of stock, but I wonder how many “share entitlements” (and thus, expectations of dividends) there are.

Patrick Byrne A concerned citizen who has been hunting the oligarchy and Deep State since 2004. My actions forced me to abandon recently my 2,000 colleagues at Overstock.com. Help them out by going to Overstock.com and making a purchase.

24 Replies to “To OSTK Owners Who Might be Living Under a Rock: Vote “YES””

  1. What are the odds that the fix is in on the vote? That Primary Brokers will just use their proxy power to democratically sweep this special dividend away forever?

    What are the odds the CEO PB left in charge, and Saum will actually pursue this special dividend without PB around?

    1. If you read the proxy, you would know that even if the second CF that you query about occurs, management has a follow through punch that guarantees its issuance beyond this shareholder escapade. It seems that JJ a lawyer by trade, is as interested if not more so for this “digital dividend” to pass. We shall see.

      Who can answer this question about counterfeit shares and illegal naked short selling? How did Tesla make the shorts pay for their sins including today? Or, is the SLOP that exists in OSTK shares still alive and well everywhere in the marketplace including Tesla still? It an ODD TWIST, Musk did exactly what Byrne was supposed to do to those criminals but failed miserably and had to leave the country hoping and praying Barr was going to restore The Rule of Law to America including its “Deep State,” but which continues to be another conspiracy “fantasy” of Byrne watching what Barr and his lieutenants continue to not to do.

      As always, The Greater Fools like me are still waiting to see what legitimacy exists in the U.S. Government especially as relates to its criminally induced U.S. Financial Markets. Bernie Madoff is hardly dead!

  2. After the results of the FEB 13 vote for OSTKO dividend,why not also offer a Ravencoin dividend and TZROP dividend to OSTK shareholders.
    As of last year ,OSTK owned at least 120 Million Ravencoins.

    If the SEC is going to hold back OSTK/TZERO and turn a blind eye to naked shorting counterfeit shares and REGSHO list,does it even make sense for OSTK to be listed on Nasdaq at all?

    If the OSTK Board of Directors wanted to move /convert all OSTK shares currently on Nasdaq to OSTKO shares on TZero/BSTX in the future,would they need shareholder vote approval for that also?

    1. I like the idea of a Ravencoin dividend in the future. I’d prefer for it to be after bitcoin hits all time highs and there is allot of blockchain buzz. But great idea.

  3. On a different topic,is anyone at Overstock even aware of the damage that 3rd party resellers are doing to their brand/sales/reputation when these 3rd party resellers offer refurbished versions of popular,top selling items at double the price of the same,new items at other online sites.This is a sure way to lose customers forever and cause a lot of negative word of mouth.

    Example presented in links below is a Roku Express which a 3rd party reseller is currently selling for more than double the price ($52.49) of the same ,new model at Amazon ($24.00).Keep in mind this currently is the #4 Top Seller in Electronics at Amazon.

    https://www.overstock.com/Electronics/Roku-R-3900XB-Refurbished-Express-Media-Player/25479103/product.html?refccid=CF43SOQWVT6LN5KE6XM63U2GSQ&searchidx=2&option=42439967&kwds=roku&rfmt=

    https://www.amazon.com/Roku-Express-Streaming-Media-Player/dp/B07WVFCVJN/ref=zg_bs_electronics_4/131-8676797-5672744?_encoding=UTF8&psc=1&refRID=XD5WH0Z3AVCS9S9DXNTV

  4. Blackrock’s 13G Amended filing this weekend assumes in excess of 39M OSTK shares outstanding with what they are calling a less than 5 percent control stake coming in at 4.9 percent. If they are incorrect, they still own more than 5 percent of the company despite this erroneous filing.

    Something is not right, Ms. Clavel, but isn’t that always the case with Overstock.com?

    https://www.sec.gov/Archives/edgar/data/1130713/000083423720009076/us6903701018_021020.txt

  5. My partner and I agree on this FACT while fools in netherlands were saying ATM shares are the reason for BlackRock’s filing had somehow become known. Patrick, people are saying you are going to buy back your company for dimes on dollars. Please do as you have our permission and blessing, you SOB. And, let’s put these Wall Street Criminals who have attacked your world to rest this time!

    Bullish
    KarlDieGlatze
    now
    $OSTK ATM shares that may or may not exist couldn’t be known by BlackRock before anyone else, and since we are somebody else and haven’t seen any filings which change the last known 37M shares, these assumed 39M plus shares by BlackRock are WRONG. Heil Trump!

  6. Patrick knew this sooner than the rest of us networked into the meeting or there live. Nice work, Patrick. I don’t know what you are going to do for the Company, but it better be a helluva lot more than what wasn’t done in your 19 Year history of what remains capital destruction for most early settlers having gone public.

    AnführerMitWutin 1 second
    Byrne is coming back in March and will take a slice of the company with a newly issued digital dividend in his grubby paws. Preferred vote tells the story since he still owns them, and there won’t be any increases there.

    https://finance.yahoo.com/news/overstock-stockholders-approve-path-company-212004612.html

    Overstock is working with industry participants to finalize the record and distribution dates for the Series A-1 Preferred Stock dividend, expects to notify investors soon of those dates and expects to distribute the dividend no later than this April.

  7. With the DJ news today that Blackrock was making a stink about the digital dividend passing, and which they opposed, this is what we believe is happening as well as what won’t happen with respect to “honest accounting” of the “short shares” in Overstock.com. The Criminals on Wall Street continue to win even when they lose.

    $OSTK JJ and Saum are in on the fix and made a deal with Devil(sec/occ). There will be no honest “covering” or accounting for “phantom” shares or FTD’s. It will be orderly and gentlemanly like today, for example. They will have to rebuild the company dollar by dollar again after all the dilution and capital wasted up until now in addition to the abuse, manipulation and stolen value which Etail took for nearly 20 years having gone public. The criminals win even when they lose.

    And, this is what we believe BlackRock and others do, and why they didn’t like that digital dividend getting voted in.

    $OSTK Makes total sense. These fools at this institutional level control so much of the U.S. Money Supply with individuals having transferred their personal and retirement savings underneath their umbrellas in The Modern Era gone away the days of “fixed pension funds” and greater corporate responsibilities, that they are exclusive arbiters of America’s capital allocating decisions including who wins or loses at the same time having the ability internally to fix the game and garner exorbitant fees at various levels of the “trading processes” for doing so. I have called it a RIGGED GAME for decades now, and I remain correct.

    This company remains a curse on Patrick Byrne but at least he got out in time, right?

  8. Regardless of my disappointment in Dr. Byrne for laying down his sword as he felt he had to, I continue to educate and titillate thought processes and investigations wherever I can in seeking to gain mindshare from wherever it may land. It may just take one investor at a time for the revolution that remains necessary to begin.

    AnführerMitWut2 hours ago
    Vladimir, you really are a CHK Bull, so thanks for looking out. In return I will tell you that the criminals manipulating this stock are none other than BlackRock who routinely use their market clout in loaning their shares to short seller affiliations in pursuit of driving share prices to artificial lows, and if possible in vulnerable balance sheet and cyclical market conditions like CHK is facing today, help the shorts force BK when appropriate and prior to calling back the loaned shares to ride the upward wave profiting every which way and direction but loose.

    Tesla called them on this overtime, and an historical “digital dividend” blockchain encrypted that was voted in two days ago that will end the criminal shenanigans that take place in the back offices as part of the DTC’s clearing and settlement along with stock loaning programs was voted down by BlackRock including them making a big stink that it passed claiming it shouldn’t have been knowing all they will lose going forward when honest, transparent accounting designed with perfect, immutable math is no longer corrupt like today with respect to C&S.

    Our US Financial Markets are criminally rigged with prime brokers and institutions including Goldman and BlackRock being center stage.

    I encourage you along with others to investigate the Overstock.com story including their former CEO who was forced to resign notwithstanding his nearly 20 year jihad exposing Wall Street Criminals relating to these principles.

    Before you think Byrne a bad guy, make note of the fact that he remains a quasi son of Warren Buffett, and Buffett helped lead him to the decision to leave his company relating to other “Deep State” issues which remain ongoing.

    Study the OSTK digital dividend and their tZero trading platform for clearing and settlement since Wall Street has done everything in their power to kill the baby in its cradle but this far continue to fail.

    Thanks for listening.

    Really1 hour ago
    @AnführerMitWut I am intrigued by your post. Have always been interested in the Overstock situation. Am interested in learning more about the Buffet connection. What puzzles me is that if Buffet was looking out for Byrne, why didn’t he screw the shorts by making a bid for all or a nice part of Overstock?
    What do you suppose will happen with CHK? Thanks.

    AnführerMitWutin 1 second
    @Really It frustrates the hell of me2 since it was I who alerted Mr. Buffett of my concern for Dr. Byrne last May, and prior to their personal meeting. Additionally, I made a plea that he should look seriously at helping the business model if he saw merit in it like he did back in 2002, to his friend and fellow board director, Walter Scott, of Level 3 Communications hiding inside of CTL today.

    It wasn’t more than a couple of days after I reached out to Mr. Buffett, that one of his portfolio managers, TNT, Todd or Ted, bought Amazon shares!

    You can imagine how that added to my frustration but it was nothing compared to what was ahead of me on Friday, September 13th, when the SEC protected the shorts by adhering to the prime brokers’ who got them to flip, and hold our “digital dividend” from being approved then!

    We are all tools to be exploited, and do not own the shares we believe we own of public companies in the markets as they are conducted today.

  9. Just imagine if Patrick decides to load up on OSTK calls next month and then decides to buy up the ask and raise the bid on OSTKO shares before the OSTKO digital dividend record date.

    I think we might see that Patrick will have much more power at raising the price of OSTK than he ever had when he worked for the company.

          1. Your representatives are the Board of Directors. They insisted There be no relationship whatsoever between me and the company. Take it up with them.

          2. Patrick your response makes no sense the board of directors can’t stop you from buying shares or digital tokens….

        1. Patrick, if only the team which included you not long ago executed upon the goals including deadlines that had been established, OSTK owners wouldn’t be in the predicament they remain in currently while seeking some Star Wars fantasy hero to return to save them. Pathetic!

          JJ has already missed another deadline—dividend distribution date—and Saum too especially having turned into a watered down version of yourself; talking the good talk but delivering nothing measurable in return.

          Where are the exponential growth in tZero sales? Why so hard to find financiers at a high value stock price discounting this huge, successful probability future?

          When does Etail produce FCF instead of using more cash than they earn?

          Look at Musk in what remains a significantly more complex business and far more CAPITAL INTENSE at he same time!

          He is The Gretzky of modern business always knowing where the puck is going while being right there to SCORE! ahead of the rest of the fools chasing him.

          If you can’t perform except by your words without action like in the past, please stay retired and enjoy your massages in Bali or wherever it is you are supposedly hiding these days.

  10. Why did the shareholders have to VOTE to get a dividend? strange sounds like just more extra steps to drag it out

  11. BlackRock Trashes Overstocks Cryptocurrency Dividend — Market Talk
    2:22 PM ET 2/14/20 | Dow Jones

    1422 ET – Investment giant BlackRock criticized online retailer Overstock.com’s decision to declare a shareholder dividend in cryptocurrency tied to the e-commerce company’s own blockchain exchange. BlackRock’s Feb. 14 public rebuke came a day after Overstock said shareholders voted to let the company move forward with the digital dividend. BlackRock’s stewardship team voted against it. The money manager said Overstock didn’t address concerns around how the digital security would be traded, priced and custodied. BlackRock is the world’s largest investment manager with $7.4T in assets under management. “Based on our analysis and multiple engagements with the company, we believe the board and management team prematurely declared this dividend and did not fully vet the trading process.” BlackRock said. Overstock received a subpoena in 2019 from the SEC related to the proposed dividend, the WSJ previously reported. (dawn.lim@wsj.com)

  12. JJ continues to be behind the curve. He missed every deadline he touts without failure.

    It’s in his DNA and is comprised of what a losing CEO is made of so that’s an historical reason shareholders are always sheared—he is connected to Byrne’s right hip— and have seen their wealth destroyed in this name including their epic battles with shorts.

    Byrne was only different for the razzle dazzle and creating one time unsustainable spikes, but JJ is even incapable of that.

    We know the excuses as Byrne has detailed for all to see right here on this blog, but again, he had or should have sought out more revered and secured finance sources which wouldn’t have balked if the returns on future cash flows into perpetuity were unassailable and predictable in worst case scenarios as apparently they are still not.

    The lack of a dividend record date in partnership with the shareholder approval after all the time wasted in between, and missing the earlier suggested date, remains prima facie acridness.

    This company continues to seem as though it has a destiny with disaster. No lucky Irish charms here .

    Very sad, indeed. Yes, our stock price sucks and I am venting so prove me wrong.

  13. Shapiro is good news taking a board seat at this juncture. A global thinker with deep political, social and economic tentacles inclusive of being a Harvard Man. Can he move the system into legitimizing Clearing&Settlement or is the corruption so deep and the web so wide that it will never be done? Maybe he will start by focusing on OSTK’s stock symbol exclusively as an appetizer towards that end. I think he has been helping Medici Land Titling over in Africa if I heard ASM correctly. Sorry to see the lady go since I had experienced some of her Webinars and was impressed even before she arrived at OSTK. Seems to be a friendly departure, so hopefully they can add value to what she already put in place.

    https://finance.yahoo.com/news/overstock-announces-changes-board-directors-213010027.html

  14. Dear Patrick,

    What is America going to do if AG Barr abruptly resigns due to President Trump’s incessant tweeting and potentially, adversely affecting The Rule of Law from being administered without uncalled for influence?

    What is not going to happen with this Deep State Saga you are deeply captured up to your eyeballs in, and how will you ever make it back to “deine Heimat”?

    The terrorists at the FBI are going to get away again….We know what they are and how they have operated for many decades now.

    Very intelligent, deceptive thugs in suits.

    Wir brauchen dich, Patrick. Hilf uns, Bitte. Heil Trump!

  15. New short thesis has some merit and goes like this:

    Trading on tZero’s ATS is already illiquid and is about to get worse since Dino’s one percent fee is cost prohibitive on large dollars now that brokers have all gone to “zero” commission.

    Robinhood came to their rescue unlike Byrne whose platform for robbing the richest coffers to benefit the poorer “owners” behind the scenes is not being allowed. They still have plenty of ways to rob in stealth manner—trading volumes— as they like and must have it.

    Note to self: Earlier attempt to open crypto account with Dino difficult to impossible and most burdensome so that I quit trying.

    Not the kind of partner I would want facilitating my wares.

    Shorts don’t expect prime brokers to link with tZero anytime soon. Fidelity confirmed they will not be.

    By hook or crook, shorts are never wrong in this name, so why would they be now?

    Prove me wrong.

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