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anyone ever get shares or anything. I am reconciling my graveyard for last 10 years and this one in my account under C012516 delisted like a lot of them
http://www.otcbb.com/asp/dailylist_detail.asp?mkt_ctg=ALL&d=11/27/2006
Bankruptcy effective 10/11/2006 (Pro rata distribution of Municpal Payment Systems Inc for each share held. Payable upon surrender.)**
Lots of volume last two days ... final dumping or initial accumulating.
on thursday sept. 23 the house financial service
subcommittee on oversight and investigations
held a hearing entitled
'encouraging small business growth and access to capital'
chaired by rep. sue kelly [n.y.]
there were five witnesses who testified
with varying credentials of chief officer and presidents
of companies.
frank speight was one of those who testified,representing
the 'national small public company leadership council'
part of mr. speights' testimony included addressing
'rule 504' of the securities and exchange commission
and the burden of compliance for small companies
the connection to columbia bakeries is obvious
and gives reason for the non-compliance with the sec.
the de-listing from the over the counter,
thereby being listed on the pink sheets.
it was done deliberately.
it appears that mr. speights' actions or non-actions
are not only operational but political
i hope that mr. speight is successful
however what this means for columbia bakeries
remains to be seen
i agree with mr. speights methods with the exception
that it leaves investors with no information
there have been no news or press releases about
columbia bakeries and idles you only guessing
at what mr. speight thinks
the number of shares oustanding still concerns me
that is 155 million shares
i am a little surprised that considering this hearing
there has been no movement on cbbs. stock
cbbs. remains incredibly weak, twenty thousand shares
were traded about twenty dollars worth
and knocked market capitalization down forty percent
approximately 60 million dollars
i am not expecting any sec. filing soon
again i hope that mr. speight is successful
and gets rule '504 ' of the sec.
re-written to his satisfaction
thereby helping small business and columbia bakeries
Yep No Filings! I'm all out with a huge loss on CBBS. I gave up over 2 thousand on this and I decided I wasn't going to give them anymore. I am very disappointed in CBBS, and I wish I would have never invested back in May.
I made a couple of nice trades on MRMN and EBTB after I sold CBBS and then I got caught in another Scam company called AXGR! I lost a grand there! Be careful as the OTC is full of land mines right now imo.
I'm currently playing EWMD as an S-8 play only. They had a small S-8 on August 13 for 10 million shares which is very small compared to what others are doing. Check the charts as EWMD was around .04 cents pre S-8. I'm looking for .02 -.03 cents this week on it imo.
Dave
8 weeks have passed, still no filings or other news ?
I would buy more CBBS shares at this price but until I see news or filings I am going to sit on the sidelines. This stock does have pretty good potential for a stock trading in this price range imo. But until management gets on the ball we will sit at .001 or below. I'm looking for a penny or better before the end of the year if they do what they said they would?
Dave
25k trade @ .001
I wish that they would put out something to move this stock back up where it belongs. I'm watching CBBS close for any news or filings. If they would release something positive that would get us in the spotlight it could send us to a couple of pennies easy imo. This moves with volume. I'm keeping my fingers crossed here as CBBS could be a very nice play from these levels!
Dave
CBBS almost doubled on volume of 1.3m shares. Any news, SEC-filings or quarterly figures?
Look at HLSH they have dual listings! I sure wish that I would have bought some last April of 2003 when it was at .07 cents!
I was watching it then but I didn't buy it. :( Anything can happen with CBBS. I'm giving Frank a chance to turn this around.
Dave
I agree with you megalodon. I've been told by Frank and Morgan that they are in the process of bringing ALL SEC filings up to date. I've also been told that the company was basically a mess when they took over, and that they are trying to clean it up. I believe that they are sincere in doing what they say.
I doubt that we'll see any BK filings or reverse splits anytime soon. The share structure is already pretty good here. If in doubt try buying a million shares. You might get a 100,000 of it at ask and then they will U/T the price. By the time you would get your million shares this would be at .003. The float must be really small here as this moves on air. I'm waiting this one out over the Summer. I believe it will see a penny again easy before the year is over imo.
Dave
yeah..,you're right
what good does thinking do?
at this point it's just as effective as hoping
acumen razor
You think to much, no reverse split and no bk on the horizon, be patient.
last friday july 9 someone sold 3,200 sh. of cbbs at .0012
for approx three dollars and eighty four cents 3.84
barely enough to buy a starbucks depending on your preference
cbbs then lost 33% [percent] of its value
with 155m [million] shares outstanding
this knocked down market capitalization down from approx
279 thousand to 186 thousand .0018 to .0012 respectively
a market capitalization loss of approx 93 thousand
because someone sold three dollars and eighty four cents
worth of cbbs stock
this should be an indication to everyone of how weak cbbs
APPEARS to be the fact is we still don't know
a bankruptcy wouldn't surprise me even if the company
stayed in business neither would a reverse split
the thing that really hurts is the late Q10 [quarterly] filing
for the first three months of 2004
not necessarily the move to the pink sheets
most of us have lost 90% [percent] of our money
or investment if thats what you want to call it
we might as well throw it on the crap table
personally for me im not selling that would be silly
i'll go down with the ship if thats what happens
Some companies maintain a dual listing (OTCBB and Pink Sheets). Would that be an option for CBBS?
Thanks for your comments, DT. I appreciate every single one.
Q10 What happens to an issuer when it is removed from the OTCBB for failure to comply with Eligibility Rule requirements? How can it get back on the OTCBB?
A10 The SEC has granted an exemption from SEC Rule 15c2-11 for securities that were quoted on the OTCBB on or before January 4, 1999 that will no longer be eligible to be quoted on the OTCBB due to the phase-in implementation. The exemption will permit broker-dealers to publish or submit quotations in other quotation mediums, including the National Quotation Bureau’s Pink Sheets, subject to certain conditions. For further information on this exemption, click here.
When an issuer is removed from the OTCBB and subsequently comes into compliance with the Eligibility Rule, it can come back onto the OTCBB after a Market Maker submits a Form 211 to the OTC Compliance Unit of NASD Regulation and the OTC Compliance Unit has cleared that issuer for quotation.
I'm not sure how long this process will take? But, I do agree with you as I believe this will run hard with any decent news Pink or Not!
Dave
What does it take to leave the Pink Sheets? Do they just have to file their reports with the SEC?
Anyway, with a current market cap. of about $200K, the slighest piece of encouraging news with move this baby.
CBBS .0012 X .0018 moving some today. Don't discard this one just yet! It may be quoted on the Pink Sheets but it will move with any volume. I have been accumulating while everyone else has been dumping. I have received e-mails from the CEO Frank Speight, & Morgan J Wilbur in regards to them cleaning up the company from the old management. They are bringing the SEC filings up to date. I think that they are sincere in doing this. I believe CBBS can be another GXXL or OMOG once we get some news. This stock is at a rock bottom price for this type of company. Here is the e-mail address of Frank Speight & Morgan Wilbur if you have any questions about CBBS;
Morgan J Wilbur mjw@acpbdc.com
Frank Speight frank@acpbdc.com
So there is hope yet..lol
Posted by: Capt_Nemo
In reply to: Capt_Nemo who wrote msg# 131279 Date:7/1/2004 10:13:23 AM
Post #of 131319
CBBS Just got a reply and talked with MJ on the phone, Mj hopes for filing in 3 weeks max ,,,8*) Im watchin, and Frank just replied email ,,shazammmmmmmm two in one day..
From Frank!!!!
Columbia is still operating and we are in the process of getting the SEC filings current. The former management left the Compnay in disaaray and we are cleaning it up now. Other than that - I can't disclose any further non-public information.
Rick
"Great spirits have always encountered violent opposition from mediocre minds."
-Albert Einstein
Scammers! I salute you
Report scum er scams here #board-610
well looks like I bought into an other dead beat company.
columbia bakeries is dually listed on the otc bulletin board
and pink sheets
so that if columbia bakeries is taken off the otc bb
[i won't use the word delisted because it upsets people]
most of us won't realize if it happens because it will
still give you a quote from the pink sheets
in fact the 'E' may come off
check out 'APRJ' american capital funding
a business development company that
frank speight is the chief executive officer
APRJ is listed on the pink sheets only,
i think because frank speight chooses it that way
the logical assumption would be that APRJ is a
business development compay for columbia bakeries
in january of 2004 APRJ was reverse split 1 for 600
i never heard of that until i read it
just as upsetting as delisting
HEM mutual assurance co. owns the majority of columbia bakeries
common stock acquired by the reverse acquisition of
brooklyn pasteries and by exercising stock options
that accounts for a good portion of the number of shares outstanding from approx 6.7 million 155.1 million
which in my opinion accounts for significant dilution
what irritates me is the lack of information from
columbia bakeries for its' investors
with the exception of what you can piece together
from sec filings
the last sec filings for both 'cbbse' and 'aprj'
have been about the third week of may
perhaps frank speght is waiting for columbia bakeries
primary venue to be the pink sheets
the only thing with my broker he charges a lot to
get in and out thats why i don't buy pinks
Being on the Pinksheets isn't all that bad for CBBS. They will lose the "E" and they won't have to worry about spending money on filings. Instead they can use that money to further develop the company. Many Pinksheets stocks are successful and move easily with volume. Huge profits can be made off of CBBS at these levels. CBBS "E" will be a nice turn around play from these levels listed or delisted! CBBS will go over a penny again imo. I'm sitting on a million shares here! :)
Today's price rise means either they filed and I can't verify it. Or some guys are betting they will file within the next days. Capt. did you sell some at .003?
Prinz,, I started buying this POS at .008 yup, what a fool, I bought bunches down here, so any movement towards the .003 range will be a payday for me, I cant believe they would let themselves gwet delisted, Prolly an affordable way of keeping things going, but all us common sure take it in the shorts!!!!!!!!!!!!
Our CEO realizes, how important a listing on a regulated exchange is. He should do everything possible to comply with the SEC regulation and file this f.... report. Otherwise we own completely worthless paper (which is even worse than almost worthless paper).
when you put the pieces together that's a lot of news
and its explains some things
i expect that columbis bakeries wil not file the required
sec form 10q because of the financial burden of compliance
which involves attorneys fees ,accounting and auditors fees
i further expect that columbia bakeries will be
delisted from the exchange but continue to operate
don't get excited but under the circumstances
i think its the smart thing to do
it will save money and help insure the companys' exsistence
the downside is that it doesn't leave investors
a source of information
i believe a website would be the best remedy for that
and as i have stated before a website would be a good source
of information for both investors and customers
in my opinion columbia bakeries is a penny stock buy
CBBS News (sort of)
Frank Speight, CBBS' CEO, was quoted in the following Dow Jones news story this morning:
=DJ Small Firms Shy Away From IPOs As Compliance Costs Rise
06/23/2004
Dow Jones News Services
(Copyright © 2004 Dow Jones & Company, Inc.)
By Tiffany Kary
Of DOW JONES NEWSLETTERS
NEW YORK (Dow Jones)--Joe Fiore didn't mince words when Knock-Out Technologies Ltd., a maker of food technology, approached him about going public.
Fiore, chairman of Scarsdale, N.Y.-based Berkshire Capital Management Co., quickly ascertained that the company had about only half the $125,000 to $150,000 in free cash flow he reckons is necessary to meet the costs of complying with the Sarbanes-Oxley Act of 2002, which seeks to increase transparency in corporate governance.
"If they don't have it, I tell them up front; these costs are not optional," said Fiore, who said he meets with seven to eight companies seeking to go public a month.
Dover Plains, N.Y.-based Knock-Out Technologies thus bowed out in an early round of its bid to become a publicly traded company, despite what Fiore described as promising technology: a germicidal spray that can eliminate six major types of bacteria.
The story doesn't end badly. Fiore set Knock-Out up with e-FoodSafety.com, an over-the-counter Bulletin Board-listed grocery tracker that acquired Knock-Out in May, giving it enough capital to pay for the costs associated with Environmental Protection Agency-mandated testing.
Much has been written about the potential long-range effects of Sarbanes-Oxley. The effects range from public firms that opt to go private to avoid the high cost of compliance - such as prepaid phone-card firm 9278 Communications - to foreign firms that shy away from listing on more stringent U.S. exchanges - German car maker Porsche AG and Japanese brokerage Daiwa Securities Group (6601.TO), for example. But it is the small all-American start-up that may be most affected by the high cost of compliance.
The average cost of being public for a company with annual revenue under $1 billion has increased 130% over two years, to $2.1 million in fiscal 2003, according to a study from law firm Foley & Lardner. The study, which surveyed 115 companies, said the biggest cost increases came from lost productivity, board compensation, and director and officer (D&O) insurance.
From fiscal 2002 to fiscal 2003, D&O insurance rose 33%, board compensation rose 48%, and fees from lost productivity, as staff and costs were channeled into compliance work, rose 72%. A rise in audit fees also hit companies hard, up 23%, according to the survey.
"The government shouldn't expect that these companies have the same kind of resources Microsoft Corp. (MSFT) does," said Frank Speight, chairman of the Small Public Company Capital Formation Club, a new lobby group being created by The Club For Growth, an antitax group that supports conservative candidates. In addition to lobbying for a reduction in the regulatory burden on small companies, the group, which will officially launch in September, also plans to champion easier access to capital.
Speight, also CEO of West Palm Beach, Fla.-based American Capital Partners Ltd., estimates that of the 100 or more companies he meets with each year, only five to 10 will decide to try for an initial public offering. Speight, who has been in business since 1991, said the current rate is a considerable drop from past years.
High costs scare most companies off. Like Fiore, Speight said companies need around $150,000 in free cash flow to be able to meet Sarbanes-Oxley costs. That doesn't include the rising costs associated with the need to attract independent directors, he added, noting that D&O insurance policies can set a company back as much as $100,000 per director.
Speight, who meets with about 10 companies a month, said he now has 20 clients that are deciding whether to scrounge together the fees or just stay private.
"In a lot of cases these companies end up going to their friends, families, neighbors and loved ones to borrow the money. But that just puts them further behind the ball," he said.
In Fiore's experience at Berkshire Capital over the past year, 80% of private companies are not able to go public because of the high costs of Sarbanes-Oxley, which requires hours of high-priced legal counsel and auditor consulting.
The costs of Sarbanes-Oxley aren't decreasing as companies become more familiar with it, either. According to AMR Research, a market research firm, Sarbanes-Oxley compliance costs are expected to rise in 2005, up from an estimated $5.5 billion aggregate for U.S. companies in 2004. And 35% of companies in a recent AMR survey said costs are running above plan for 2004 already. AMR doesn't study the particular impact on small businesses, but John Hagerty, a researcher with the firm, notes that it's simply a matter of scale.
"It's like regressive taxing, small companies end up paying more," Hagerty said, adding that companies with decentralized operations also suffer more from high compliance costs.
Even for companies that decide to stay private, the presence of Sarbanes-Oxley is still felt.
"Venture-capital firms (and) auditors are telling private firms: 'If you want access to capital, you need to prove some compliance as well'," Haggerty said.
-By Tiffany Kary, Dow Jones Newsletters; 201-938-4292
CBBSE Has anyone Contacted the company for any updates as to what's going on with the new management and the company? If anyone knows or heard of any developments I would appreciate any info you could give me on it.
Let's keep this board going. Bought some more shares today at .002. Guess you can't do anything wrong at a price that low. Loss is limited to .002/share...
Nice close yesterday! I'm holding over a million shares of this at a .0024 average. I'm hoping to see that 10Q filed soon along with a decent PR. CBBS has really been beaten down into the ground and it should bounce nicely once the filing or news comes out. You can't go wrong here with the low outstanding share structure.
Dave
All CBBSE needs is a filing of the 10Q and a little volume. I'm averaged in CBBSE at .0025 and I may buy another 200K at .002 to bring my average down. The MM's are messing with CBBSE and others due to low volume. CBBSE should see a penny again imo with news and a filing. This is a low outstanding share OTC and it is way oversold in my opinion. All the other subs are hurting because of low volume; ITDJ, IDGE, ATNG, CCGI, & CBBSE which has the best share structure out of them all.
CBBSE Outstanding Shares: 155,095,473
Source: 10KSB ( 05/06/2004 )
Dave
Lets get it going, Frank!!!
C. Frank Speight, our Principal Executive Officer and Director, was the
President of Dunhill Capital, Inc. until April 10, 2004. Mr. Speight, directly
or indirectly through Dunhill Capital, Inc. has been involved in numerous
capitalizations for existing public companies, and the facilitation of numerous
private companies into the public sector, including the purchasing and selling
of controlling interest in public and private corporations. Mr. Speight intends
to use his expertise in this field and the relationship developed in this field,
in facilitating, analyzing, and investing in business opportunities on behalf of
the Company.
I agree that the "e" is far from worrisome. Many purposefully let it happen to avoid paying auditors till the last minute as a form of cost saving to the company.
WHAT ME WORRY ? THE "E" BEHIND CBBS DON'T MEAN DIDLEY
ONLY THAT THE COMPANY IS AUDITING THE PAST FINANCIAL RECORDS
AND AUDITING METHODS
THE RESULT IS A LATE 10K SEC FILING FOR THE YEAR 2003
BUT ONCE AGAIN I THINK THE COMPANY IS DOING THINGS
THE RIGHT WAY
HOWEVER COMMON NOW THIS IS A PENNY STOCK NOW
AND LESS THAN A PENNY AT THAT
VERITAS ,A WELL KNOWN SOFTWARE COMPANY SYMBOL [VRTS]
HAD AN "E" ADDED TO THEIR SYMBOL NOW [VRTSE]
A NASDAQ REQUIREMENT FOR DOING THE SAME THING
LATE WITH THEIR 10 K SEC FILING
AND AUDITING THEIR PAST 10K SEC FILINGS
[VRTSE] IS ABOUT $29. A SHARE
MAKE THAT COMPARISON
IN THE END ANALYSIS I'M NOT WORRIED ABOUT THE "E" STIPULATION
THE REAL ISSUE IS WHAT COLUMBIA BAKERIES
HAS TO SAY IN ITS 10K SEC FILING FOR 2003
AND 10Q SEC FILING FOR THE FIRST QUARTER OF 2004
13:40 04/21/2004 CBBS CBBSE Columbia Bakeries, Inc. Common Stock **
Filled a buy order instantly at the bid on Friday, which was not very encouraging, but soon after very few shares traded for the day.
if and when columbia bakeries develops a website
it will be a good source of information
not only for investors
but for customers as well
Chart looks promising on CBBS.
Hopefully, the upcoming Web site will be a good one and will generate interest and most of all promises of revenues.
This one isn't staying subpenny much longer, and I like it, like it very much!
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