Rahaxi, Inc (fka RHXI)

[Renee]

RHXI revoked:

http://www.sec.gov/litigation/admin/2012/34-67268.pdf

[Renee]

A lot of Pink Sheet shareholders have been hit hard with 379 SEC Suspensions on monday then 12 more Suspensions yesterday.

I anticipate more SEC Suspensions in the coming weeks so EVERY holder of any Pink Sheet stock needs to do exhaustive DD on their stocks to vet each company, particularly companies that have not filed any Financials in the last few quarters, and exponentially worse for companies that haven't filed Fins for a few years.

Best o' luck to you, Carlito.

[Carlito]

The SEC. hit me again grrrrr , >> 15-12G filer , don't matter grrrrrrr anymore !

[Renee]

RHXI SEC Suspension:

http://www.sec.gov/litigation/suspensions/2012/34-66995.pdf

ORDER:

http://www.sec.gov/litigation/suspensions/2012/34-66995-o.pdf

ADMIN Proceeding:

http://www.sec.gov/litigation/admin/2012/34-66996.pdf

[retireat40]

Need to learn who NOT to pay attention to on these boards.

[Interceptor8]

People need to get an education prior to investing. I once saw someone put in 18k in a play like this. Yes, 18k gone in a second.

[retireat40]

Some poor shlep plunked down $4550 at .007. He's now down over $1700...unreal.

[Interceptor8]

People make money anyway they can, but this is just wrong...I guess all is fair in love and war.... and in the stock market.

[retireat40]

But people play them every day. Usually a 15-12 is not a good thing but some pumpers will spin it as a positive.

[Interceptor8]

Sure looks like it...new bagholders made. Not a material event anyone would wanna play IMO.

[retireat40]

Ah...that makes sense

[retireat40]

Flying right down the toilet...

[retireat40]

Why? They terminated their registration...

[sherwood37]

it was a joke

[MrMiyagi3000]

hmmmm....

[shadowkreeps]

Holders oF Rahaxi As of Today
.........................Shares Owned,,,,,,,,,$$.......Ownership %
Pendle Properties, Ltd........100 M.........2.50 M.......17.93%
Egan (Paul).................51.39 M.........1.28 M........9.21%
Egan (Ciaran)...............37.42 M ......935,534.00......6.71%
Stakelum (Fionn)............10.39 M...... 259,643.00..... 1.86%
McGrath (Killian)...............1 M .......25,002.00....0.18%


Pendel Properties Ltd ....Is now the Benificial Owner of (RHXI), looks like a possible merger as Pendel is a Private company that wants to go public.....

[$pmlg]

and chart

[S3lfMade]

nice volume~

[02opida]

Primary SIC — Industry Classification
3579 - Office machines, misc

[02opida]

Phone: [phone]

[02opida]

http://www.rahaxi.com

[02opida]

Wicklow Enterprise Centre, The Murrough
Wicklow Town
County Wicklow
Ireland

[02opida]

Rahaxi, Inc.

[Truman321]

ask thinning, just 2 MM to .014

[QualityStocks]

RHXI Video Chart

http://www.qualitystocks.net/videocharts.php?chartvid_id=384

[toddao]

Most Recent Trades 4-23-10
Time Price Change #Shares Buyer Seller
15:27:53 0.009 0.0008 800,000 0 0
14:41:29 0.009 0.0008 60,800 0 0
14:41:26 0.009 0.0008 99,200 0 0
14:31:35 0.009 0.0008 32,043 0 0
12:35:29 0.0086 0.0004 25,800 0 0
12:30:56 0.0086 0.0004 14,200 0 0
11:21:15 0.009 0.0008 25,000 0 0
11:20:05 0.009 0.0008 10,000 0 0
11:07:19 0.009 0.0008 14,200 0 0
11:05:22 0.009 0.0008 100,000

[clydesur]

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=49341550&txt2find=nbvg

[toddao]

are they are still selling?

[IntelligentElegance]

Chart looking prime! All this puppy needs is volume and its going to take off.

http://stockcharts.com/h-sc/ui?s=RHXI&p=D&yr=0&mn=3&dy=0&id=p15879741062

Check the chart and do your own DD. This is only my opinion.

[eat-my-shorts]

Chart lookin great on this one check it out http://007stockchat.com/index.php/stock-blog/viewpost/139

[ufgtrs1]

Thi$ looks ripe for a nice move tomorrow.

[PukePile]

My guess is that people who scan for pincher setups are taking positions. Volume seems to be drying up now. Not sure how this will play out, but I'm keeping an eye on it. Pincher plays are usually pretty reliable.

[pappi]

sorry Puke, that was meant to be a public message, so i'll restate:

huge, simply HUGE, volume on this one today. what gives?

-p

[PukePile]

Definitely a pincher setup on this.

[z_deville]

.0085 up. Psar will flip with a hit there.

[hotpenny]

yes gotta love those rising macd bars lol

[DTGoody]

RHXI is finishing up on an S-8 from a few months back. I think it is done now. RHXI could bounce to .02 cents on decent volume. It's showing some good signs right now! Level II .0075 X .008 (2X2) Looks ready to go!

[hotpenny]

looks like TAs are turning positive here. Maybe selling has dried up?

[DTGoody]

[BlackThought]

Most likely. That's not good..

[Kurupt]

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

Fionn Stakelum submitted a letter of resignation from his positions as a member of the Board of Directors of Rahaxi, Inc. and as our Director of European Operations, with an effective date of February 26, 2010. Mr. Stakelum left the company to explore other business opportunities.








I wonder if this guy was selling out his position?

[BlackThought]

waiting for the indicators to signal an entry.

[Kurupt]

Free Star in court tangle
Det Nasdaq-noterade bolaget Freestar förbereder en jättestämning på 600 miljoner kronor i svensk domstol för att komma åt fastighetsmannen Sören Moberg – som i sin tur hävdar att det är han som har blivit lurad av Freestar. The Nasdaq-listed company, Free Star prepares a giant atmosphere at 600 million kronor in Swedish courts to access the real estate man Soren Moberg - which, in turn, argue that it is he who has been deceived by the Free Star.
paul_egan_200x143.jpg
Freestar stämmer Sören Moberg på 600 miljoner kronor... Free Star is Soren Moberg of 600 million ...
soren_moberg_200x143.jpg
... ... och den svenske finansmannen Sören Moberg har polisanmält Freestar för att ha blivit blåst på 25 miljoner aktier. and the Swedish financier Soren Moberg has notified the Police Free Star to have been blown on 25 million shares.
Magnus_200x148.jpg
Freestars stämning riktas också mot den 32-årige Magnus Erneving, tidigare ombud åt Freestar. Free Star atmosphere is also directed against the 32-year-old Magnus Erneving, former representative to the Free Star. Här på bilden konfronteras han av TV3:s program Insider i samband med fastighetsbedrägeri i Strängnäs. Here the picture he is confronted by TV3's Insiders program in connection with real estate fraud in Strangnas.
Foto:TV3 Photo: TV3
Freestar anser att Moberg ligger bakom en stöld av 25 miljoner aktier i bolaget. Free Star believes that Moberg is behind the theft of 25 million shares in the company.

– Vi kommer att kräva Moberg på de förluster han har åsamkat Freestar och vi utgår ifrån att han kommer att sättas i fängelse, säger Freestars vd Paul Egan som är fly förbannad på svensken. - We will require Moberg of the losses he has inflicted Free Star and we assume that he will be imprisoned, "said Free Star CEO Paul Egan who are outraged at the Swede.

– En del av de ord jag vill säga till honom går inte att sätta i tryck, säger han. - Some of the words I say to him will not turn the pressure, "he says.

Stämningen omfattar också Sören Mobergs bolag Moberge Group och den 32-årige Magnus Erneving, känd hos Realtid.se:s läsare för fastighetsbedrägeriet i Strängnäs där mjölkbonden Jan Didriksson blev lurad på sin gård. The lawsuit also includes Soren Moberg Moberg Group companies and the 32-year-old Magnus Erneving, known in Realtid.se's readers for real estate fraud in Strangnas where dairy farmer in January Didriksson was cheated out of his farm. Magnus Erneving dömdes också nyligen till ett års fängelse för medhjälp till grovt bedrägeri. Magnus Erneving also recently sentenced to one year in prison for accessory to aggravated fraud.

Freestar har enligt Paul Egan redan vunnit en rättegång i frågan vid Nevada District Court, Las Vegas, men det räckte inte för att saken skulle gå vidare i svensk domstol för att komma åt Sören Moberg. Free Star under Paul Egan has already won a trial on the issue at the Nevada District Court, Las Vegas, but it was not enough to matter would proceed in a Swedish court to access Soren Moberg. Freestar valde därför att vända sig till Internationella domstolen i Haag som enligt Paul Egan också gav Freestar rätt. Free Star therefore chose to ask the International Court in The Hague, which according to Paul Egan also gave the Free Star right.

– Med utlåtandet från Haag har vi inget tvivel om att svensk domstol kommer att ta upp fallet, säger Paul Egan och anger att Freestar precis håller på att förbereda en anmälan till svensk domstol. - With advice from The Hague, we have no doubt that the Swedish courts will take up the case, "said Paul Egan, and enter the Free Star states is preparing a complaint to the Swedish court.

Paul Egan bekräftar att Freestar kräver 600 miljoner kronor av Sören Moberg. Paul Egan confirmed that Free Star requires 600 million crowns by Soren Moberg.

– Det handlar om belopp på den nivån eftersom han lurade till sig 25 miljoner aktier i Freestar då aktiekursen stod i 70 cent, säger Paul Egan. - It's about the amount at that level because he fooled himself into 25 million shares in the Free Star when the share price stood at 70 percent, said Paul Egan.

Han anger att Sören Moberg sedan lyckades ordna så att aktierna såldes utan att Moberg ens fått rätt till aktierna. He indicates that Soren Moberg then managed to arrange for the shares were sold without Moberg even become entitled to the shares.

– Sören Moberg manipulerade fram en kursnedgång i Freestar-aktien på börsen genom att sälja aktier som han inte hade, säger Paul Egan. - Soren Moberg manipulated by a rate decrease in the Free Star shares on the stock market by selling shares that he had not, "said Paul Egan.

Sören Moberg arrangerade kuppen enligt Paul Egan genom att de 25 miljoner aktierna skickades till Stockholmsföretaget K2 Svensk Kredit där de förvarades i ett kassaskåp. Soren Moberg arranged the coup as Paul Egan by the 25 million shares were sent to Stockholm, the company K2 Swedish credit which they were stored in a safe. På kontoret var Magnus Ernevings sambo, Östermalmskvinnan Maria Eriksson anställd. In the office was Magnus Ernevings partner, Ostermalm woman Maria Eriksson employed.

Kvinnan visste enligt Paul Egan inte vad det handlade om, utan överlämnade aktierna omedvetet till Magnus Erneving som uppvisade förfalskade fullmakter på att han hade rätt till det. The woman known as Paul Egan is not what it was about, but surrendered shares unconsciously to Magnus Erneving which showed forged powers of attorney that he was entitled to it.

Fullmakterna var utformade för att ge intryck av att de kom från danska banken Jyske Bank, som hade kontakt med Freestar i Schweiz. Credentials were designed to give the impression that they came from the Danish bank Jyske Bank, which had contact with the Free Star in Switzerland.

– Problemet är att den anställde som godkänt fullmakten åt Jyske Bank inte hade jobbat där på två år, berättar Paul Egan och anger att Freestar bevisat i den amerikanska domstolen att detta var bedrägeri. - The problem is that the employee who approved the mandate for Jyske Bank had not worked there for two years, "said Paul Egan, and enter the Free Star proved in the American court that this was fraud.

Så fort Sören Moberg kunde lägga vantarna på aktierna via Magnus Erneving, började Sören Moberg sälja ut dem utan att han formellt fått rätt till aktierna. Once Soren Moberg could lay their hands on the shares by Magnus Erneving, Soren Moberg began to sell them but that he formally become entitled to the shares. Nyutgivna aktier som det handlade om här, är alltid juridiskt sett ”begränsade” till att börja med och kan inte handlas. Newly issued shares that it was about here, are always legally "restricted" to begin with and can not be traded. Men vissa banker går ändå med på att bistå med en försäljning av sådana aktier fast man ännu inte formellt äger dem. But some banks are still having to assist with the sale of such shares even though they have not formally own them. Det lyckades Moberg med. It succeeded by Moberg.

– Olyckligtvis började Moberg sälja ut aktierna samtidigt som vi i Freestar hade en tillfällig svacka och inte kom ut med några positiva nyheter, förklarar Paul Egan och menar att det bidrog till Freestar-aktiens kursras. - Unfortunately, Moberg began to sell the shares while the Free Star had a temporary slowdown and not come out with some positive news, "explains Paul Egan and believe it contributed to the Free Star kursras share.

– Men vi är helt förvissade om att Freestars aktiekurs kommer att återhämta sig. - But we are quite confident that Free Star's share price will recover. Och de aktier som Moberg felaktigt sålde ut kommer att bli tvungna att köpas tillbaka, säger Egan. And the shares Moberg improperly sold out will have to be bought back, "says Egan.

Freestar har totalt 300 miljoner aktier, men enligt Paul Egen egentligen bara 230 miljoner utgivna. Free Star has a total of 300 million shares, but according to Paul Custom actually only 230 million issued.

– Av mellanskillnaden har alltså 25 miljoner stulits och sålts ut fast de inte ägdes av någon, säger Egan. - The difference is thus 25 million stolen and sold out even though they are not owned by anyone, "says Egan.

Han medger att Freestar från början gjorde en affärsuppgörelse med Sören Moberg på 10,2 miljoner dollar via en mellanhand. He admits that the Free Star from the beginning was a business deal with Soren Moberg at 10.2 million U.S. dollars through an intermediary.

– Men i efterhand fick vi information via en svensk tidningsartikel om att Moberg är en mycket dubiös person och bedragare, säger Paul Egan och anger att han så fort han fick denna information skällde ut mellanhanden för att ha gjort affärer med Moberg. - But afterwards, we received information from a Swedish newspaper that Moberg is a highly dubious personal and fraudsters, "said Paul Egan, and declares that he is as soon as he got this information scolded the intermediary to have done business with Moberg.

I uppgörelsen med Moberg gjorde Moberg aldrig den överenskomna betalningen till Freestar av 10,2 miljoner dollar. The settlement with Moberg Moberg never made the agreed payment to the Free Star of 10.2 million U.S. dollars. Då sa Freestar att hela affären ställs in om inte betalningen kommer in före ett visst datum. Free Star said then that the whole affair is canceled if payment is not received before a certain date. Då trädde en annan part in, Olympic Holdings, och tog över affären i Mobergs ställe. Then came another party in, Olympic Holdings, and took over the shop in Moberg's place.

Mellanhanden kontaktade senare Paul Egan och förklarade att Magnus Erneving blivit utsatt för bedrägeri av Moberg varigenom de 25 miljoner aktierna försvann. The intermediary contacted later, Paul Egan, explaining that Magnus Erneving been the victim of fraud by Moberg whereby 25 million shares disappeared.

Freestars mellanhand var Jörgen Fridén som jagas av kronofogden i Sverige för skatteskulder på över 5 miljoner kronor. Free Star intermediary was Jorgen Fridén hunted by bailiffs in Sweden for tax liabilities in excess of 5 million. Dessutom är han misstänkt för grovt bokföringsbrott och har suttit häktad för det i över två månader. He is also suspected of serious accounting violations and has been detained for over two months.

– Innan vi inledde samarbete med Fridén kollade våra advokater upp om han dömts för något brott, och det hade han inte. - Before we started cooperation with Fridén checked our lawyers up if he convicted of any crime, and that he had not. Vi vet att han inte har någon kriminell historik, det har vi kollat, säger Paul Egan. We know that he has no criminal history, we have checked, "said Paul Egan.

Paul Egan är övertygad om att Sören Moberg arrangerat hela kuppen från början. Paul Egan is confident that Soren Moberg arranged throughout the coup from the beginning.

– Han låg bakom alltihop hela tiden. - He was behind the whole thing all the time. Allt är bevisat i amerikansk domstol, säger Paul Egan och anger att domslutet skickades vidare till domstolen i Haag som svensk domstol enligt Egan kommer att acceptera att behandla i en rättegång i Sverige. Everything is shown in U.S. courts, "said Paul Egan, and indicates that the operative part was sent on to the Hague tribunal as a Swedish court under Egan will agree to treat in a trial in Sweden.

Sören Moberg anser dock i samtal med Realtid.se att det är han som har blivit lurad på aktierna. Soren Moberg believes, however, in talks with Realtid.se that it is he who has been cheated out of shares.

– Jag vill ha upprättelse och har polisanmält Freestar, säger han till Realtid.se. - I want redress and have the police notified the Free Star, "he Realtid.se.

Enligt avräkningsnotan, daterad 1 juni 2006, var 25 miljoner aktier i poster om 500.000 aktier utställda på Sören Mobergs bolag, Moberge AB. Under the bill, dated 1 June 2006, was 25 million shares in the records of 500,000 shares issued on Soren Moberg company, Moberg AB. Sören Moberg erhöll aktiebreven från K2 Svensk Kredit och Finans AB. Soren Moberg received share certificates from K2 Swedish Credit and Finance AB. Men någon månad senare, enligt Moberg, ogiltigförklarade Freestar aktierna med hänvisning till att Sören Moberg hade stulit dem. But a month later, according to Moberg, annulled Free Star shares with reference to Soren Moberg had stolen them.

– Allt verkade vara i sin ordning. - Everything seemed in order. Jag kunde aldrig drömma om att jag skulle bli lurad, säger Sören Moberg. I could never dream that I would be cheated, "said Soren Moberg.

Nästa steg är alltså enligt Egan att Mobergs tillgångar ska utmätas för att ersätta Freestar. The next step is, therefore, according to Egan Moberg's assets should be seized to pay the Free Star. I USA har den amerikanska finansinspektionen SEC bekräftat att Freestar gjort allt som står i bolagets makt för att återfå de förskingrade tillgångarna. In the U.S., the U.S. Securities and Exchange confirmed that Free Star done everything in its power to recover any misappropriated assets. De stulna aktierna har eliminerats och är värdelösa. The stolen shares have been eliminated and are worthless.

Paul Egan förargar sig över att han anser att Sören Moberg sprider illasinnade och felaktiga rykten om att Freestar är på väg mot konkurs. Paul Egan annoys the fact that he believes that Soren Moberg spreading malicious and false rumors that Free Star is heading towards bankruptcy.

– Moberg måste omedelbart återlämna de Freestar-aktier han har kvar, och upphöra med att sprida konkursrykten om Freestar, säger Egan. - Moberg must immediately return the Free Star shares he retains, and stop spreading rumors about bankruptcy Free Star, "says Egan.

Paul Egan vänder sig även starkt emot Mobergs påståenden att Freestar gett bort stora mängder nya aktier i bolaget utan att få någon ersättning för det. Paul Egan turns also strongly opposed to Moberg's assertions that Free Star gave away large amounts of new shares in the company without receiving any compensation for it. Enligt Sören Moberg har Freestars aktieantal ökat från 212 miljoner till 300 miljoner. According to Soren Moberg has Free PokerStars number of shares increased from 212 million to 300 million.

– Vi har fått pengar för varje ny aktie vi emitterat, säger Paul Egan och anger att de nya aktier som getts ut har varit en del av optionsavtal där den som fått aktierna haft rätten att köpa nya aktier i Freestar för 10-15 cent per aktie. - We have received money for each new share, we issued, "said Paul Egan, indicating that the new shares issued has been part of option contracts where the shares had been given the right to buy additional shares in the Free account for 10-15 cents per share . Om en sådan optionsinnehavare begär inlösen, får Freestar in nya pengar. If such option holders requesting the redemption, the Free Star in new money.

– Alla pengarna vi härigenom har fått in har gått till utveckling av Freestars verksamhet för att kunna våra nya, stora kundprojekt, säger Paul Egan och anger att ett projekt har krävt investeringar på 3 miljoner dollar, och ett projekt för kunden Global Refunds har krävt 2 miljoner dollar i investeringar. - All the money we thus have received has gone into the development of Free Star business to our new, large customer projects, "said Paul Egan, and indicates that a project has required investment of 3 million U.S. dollars, and a project for client Global Refund has required 2 million dollars in investments. Andra projekt med kunderna Monex och Ryanair har kostat över 1,5 miljoner dollar i investeringar. Other projects with customers Monex and Ryanair has cost over 1.5 million U.S. dollars in investments.

– Projekten lanseras i flera länder , och det är klart att det kostar pengar, förklarar Egan. - The projects launched in several countries, and it is clear that it costs money, "explains Egan.

Han förnekar bestämt att nya Freestar-aktier kommit honom själv till del utan vederlag. He denies that the new Free Star shares come himself to some free of charge.

– Jag har inte ens tagit ut någon lön från Freestar de senaste två åren. - I have not even taken out any pay from Free Star the past two years. Tvärtom har jag lånat ut pengar till Freestar. On the contrary, I have lent money to the Free Star. Som tur är har jag haft andra investeringar som gått bra som jag kunnat leva på, förklarar Paul Egan. Luckily, I have had other investments so good that I could live on, "explains Paul Egan.

Själv äger han 29 procent av Freestar och är därmed bolagets största ägare. He himself owns 29 percent of Free Star and is thus the largest shareholders.

– Med tanke på allt som hänt är jag bolagets största förlorare, säger Paul Egan. - Given all that happened is my company's biggest losers, "said Paul Egan.

Ian Hammar Ian Hammer
08-545 871 30 08-545 871 30
[e-mail] ian.hammar @ realtid.se

Sven Wettergrund Sven Wetter Basic
08-545 871 33 08-545 871 33
[e-mail] sven.wettergrund @ realtid.se
Sven Wetter Basic
Sven Wettergrund Sven Wetter Basic
08-545 871 33 08-545 871 33
[e-mail]

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Fler artiklar: More articles:

* Svensk spekulationsflopp i Nasdaqbolaget Freestar Swedish speculation flop in Nasdaq Company Free Star
* Smet från lyxliv på Grand Hotell Smet from luxury at the Grand Hotel
* Fräck bedragare dömd till fängelse Brazen fraudster sentenced to prison
* Ökänd svartmäklare i ny fastighetshärva Infamous black real estate brokers in the new harness
* Brottsmisstänkt kräver halv miljon Crimes Suspect requires half a million

Visa alla kommentarer (1 st) View all comments (1 st)
Denna artikel är äldre än tre dagar och därför stängd för nya kommentarer. This article is older than three days and therefore closed to new comments.
Artiklar i dokumentserien Fastighetssvindlarna: Pages in document series Fastighetssvindlarna:

* Fastighetssvindleriet slutade i konkurs (2008-12-01) Fastighetssvindleriet ended in bankruptcy (2008-12-01)
* Fräck fastighetshärva föll i rätten (2008-06-24) Brazen real estate tangle appeared in court (2008-06-24)
* ”Freestar inget Nasdaqbolag” (2008-04-23) "Free Star NASDAQ Companies" (2008-04-23)
* Pantbanken får inte panta (2008-04-10) The mortgage bank may not panta (2008-04-10)
* Rahaxis skuldberg växer (2008-04-09) Rahaxis debt mountain is growing (2008-04-09)
* Fogden jagar Rahaxi (2008-04-07) The steward chasing Rahaxi (2008-04-07)
* Skambud från misstänkt svindlare (2008-04-01) Skambud from suspected swindlers (2008-04-01)
* Freestar i domstolshärva (2008-03-27) Free Star tangle in court (2008-03-27)
* Svensk spekulationsflopp i Nasdaqbolaget Freestar (2008-03-27) Swedish speculation flop in Nasdaq Company Free Star (2008-03-27)
* Smet från lyxliv på Grand Hotell (2008-01-17) Smet from luxury at the Grand Hotel (2008-01-17)
* Fräck bedragare dömd till fängelse (2007-12-04) Brazen fraudster sentenced to prison (2007-12-04)
* Ökänd svartmäklare i ny fastighetshärva (2007-11-05) Infamous black real estate brokers in the new harness (2007-11-05)
* Brottsmisstänkt kräver halv miljon (2007-10-23) Crimes Suspect requires half a million (2007-10-23)
* Fastighetsaffär var fräck miljonkupp (2007-10-22) Real estate business was brazen coup one million (2007-10-22)
* Stockholmsmäklare i fräck fastighetshärva (2007-10-22) Stockholm real estate brokers in brazen affair (2007-10-22)




http://translate.google.ca/translate?hl=en&sl=sv&u=http://www.realtid.se/ArticlePages/200803/27/20080327103410_Realtid611/20080327103410_Realtid611.dbp.asp&ei=_OSFS5WlLNCx8Qb7pNmLBQ&sa=X&oi=translate&ct=result&resnum=4&ved=0CBMQ7gEwAw&prev=/search%3Fq%3DJORGEN%2BFRIDEN%26hl%3Den

[Kurupt]

I was dumping into the bid today (about 150K and some other days and NITE does not mind) but its holding thats 012 VERY well. Holding a decent position here trying to figure out whats going on???? Volume and zero movement except down but someone is patiently collecting shares

[Kurupt]

FreeStar Technology Corp. (OTC Bulletin Board: FSRT), an international card payments processor and technology company, today announced that it terminated the previously announced private placement with a European finance group led by Soren Moberg and reached terms with new investors, lead by Olympia Holding AS, for $9.2 million in financing on the same terms as the terminated financing. In addition, FreeStar Technology reported that the first payment of $4.6 million had been received from the new investors.

As previously reported on February 1, FreeStar Technology signed subscription agreements with a group of offshore investors led by Soren Moberg for the sale of an aggregate of $9.2 million in Company common stock, plus warrants. Due to the failure of the investment group to fund in full the first payment in a timely manner as required for the purchase of shares and warrants, the Company terminated the Moberg financing; all shares and warrants issued thereunder were returned by the escrow holder to FreeStar Technology for cancellation, and any funds received pursuant to the Moberg financing were returned by the escrow holder to the investors.

A group of European investors, led by Olympia Holding AS, agreed to invest on the same terms and conditions that were negotiated with the Moberg investment group. FreeStar Technology agreed to these terms with Olympia Holding, and Olympia and the new investors have made the first payment of $4.6 million.

The terms agreed to with Olympia and the new investors provide for the purchase of 46 million newly issued shares under Regulations S of restricted common stock at $0.20 per share and two-year warrants to purchase 14 million shares at a strike price of $1.50, as well as an additional 36 million warrants at a strike prices ranging from $2.50 to $8.50. Olympia and the new investors have funded the initial up-front payment of $4.6 million, and have agreed to an additional $4.6 million payment three months later.

Paul Egan, chief executive officer of FreeStar Technology Corp., said, "Although I am deeply disappointed by the failure of the Moberg investment group to meet its funding obligations, we are excited about the new investment group lead by Olympia Holding. Olympia and the investors have demonstrated their commitment to the Company and this financing by funding the first payment of $4.6 million. We believe this financing will strengthen our balance sheet as well as provide capital to grow our business."

The Margaux Group, http://www.margauxgroup.ch, based in Geneva, Switzerland, acting as financial adviser, assisted in arranging the financing transaction. Carl Hessel, chief executive officer of the Margaux Group, is also a director of FreeStar Technology.

Complete terms of the financing arrangements are supplied in the 8-K filing with the United States Securities and Exchange Commission.

ABOUT FREESTAR TECHNOLOGY CORP.

FreeStar Technology Corp. is a payment processing company. Its wholly owned subsidiary Rahaxi Processing Oy., based in Helsinki, has a robust Northern European BASE24 credit card processing platform. Rahaxi currently processes in excess of 1.3 million card payments per month for such companies as Finnair, Ikea and Stockman. The company, based in Dublin, Ireland, maintains satellite offices in Santo Domingo, Dominican Republic, Helsinki and Geneva. For more information, please visit http://www.freestartech.com

About Olympia Holding AS

Olympia Holding AS, established in 1990, is owned by Swedish-born entrepreneur Haakon Korsgaard and his three children. The Company is Europe's largest provider of specialized services for the acquisition, reconstruction and management of sub-performing consumer loan portfolios. Olympia also invests internationally in real estate, finance and energy companies with substantial upside potential. Additional information can be found at: http://www.olympiaholding.com

FORWARD-LOOKING STATEMENTS:

Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. When used in this press release, the words "expects," "anticipates," "believes," "plans," "will" and similar expressions are intended to identify forward-looking statements. These are statements that relate to future periods and include, but are not limited to, statements regarding our adequacy of cash, expectations regarding net losses and cash flow, statements regarding our growth, our need for future financing, our dependence on personnel, and our operating expenses. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the companies, are forward-looking statements that involve risks and uncertainties. Forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. These risks and uncertainties include, but are not limited to, those discussed above as well as risks set forth above under "Factors That May Affect Our Results." These forward-looking statements speak only as of the date hereof. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications that may arise could prevent the prompt implementation of any strategically significant plan(s) outlined above. The companies caution that these forward-looking statements are further qualified by other factors including, but not limited to, those set forth in FreeStar's Form 10-KSB filing and other filings with the U.S. Securities and Exchange Commission (available at http://www.sec.gov). FreeStar undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events, or otherwise.

CONTACT:

FreeStar Technology Corporation

Paul Egan

809-368-2001

Haakon Nicholai Korsgaard

Olympia Holding AS

Norway

Phone: + 47 23 37 88 70

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FreeStar Technology Wins Following Final Court Ruling
Judge Orders 25 Million FreeStar Shares Issued to Svensk KretitFinans AB Cancelled

DUBLIN, Ireland, Aug. 27, 2007 (GLOBE NEWSWIRE) -- FreeStar Technology Corp. (OTCBB:FSRT), an international card payments processor and technology company, announced that a United States District Court in Nevada has issued a final ruling favoring the company. United States District Court Judge Jones issued a final order canceling the entire 25 million shares of FreeStar Technology common stock issued to Svensk Kretit Finans. The Court further ordered that Svensk Kreitit Finans was never a shareholder of Freestar and that those 25 million shares are not to be counted as having ever been issued and outstanding.

FreeStar Technology Corporation has remaining claims against Soren Moberg, Moberge Group, Magnus Erneving asserting claims for fraud, conversion, unjust enrichment and negligent misrepresentation, seeking unspecified damages and $5 million in punitive damages. The Court had previously enjoined those individuals from selling, assigning, transferring or otherwise encumbering any of the 25 million shares, which have now been cancelled.

Paul Egan, CEO of FreeStar Technology Corporation stated, "We are pleased with the court's final decision and we will aggressively pursue through all available means any individuals who attempt to defraud and manipulate the company and its shareholders. We look forward to concentrating on bringing shareholder value in the form of increased revenue and business opportunities."

About FreeStar Technology Corporation

FreeStar Technology Corp. provides mission-critical solutions to the financial industry worldwide. Working with merchants and acquirers in more than twenty countries, its product suite has empowered partners to focus on their core competencies, while its innovative driven approach has enabled them to benefit from first to market advantage and realize their true potential. FreeStar Technology has adopted a partnership strategy for growth. Its partners are market leaders in their respective industries. These include IKEA, Finnair and Stockmann. Its subsidiaries, Rahaxi Processing Oy., Finland; FreeStar Technologies Ireland, Ltd.; and FreeStar Dominicana S.A. Dominican Republic, continue to develop and implement first class products and solutions that enhance the service level its partners can offer their customers. For more information, please visit www.freestartech.com and www.rahaxi.com

Forward looking statements

Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. When used in this press release, the words "expects," "anticipates," "believes," "plans," "will" and similar expressions are intended to identify forward-looking statements. These are statements that relate to future periods and include, but are not limited to, statements regarding our adequacy of cash, expectations regarding net losses and cash flow, statements regarding our growth, our need for future financing, our dependence on personnel, and our operating expenses. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the companies, are forward-looking statements that involve risks and uncertainties. Forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. These risks and uncertainties include, but are not limited to, those discussed above as well as risks set forth above under "Factors That May Affect Our Results." These forward-looking statements speak only as of the date hereof. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications that may arise could prevent the prompt implementation of any strategically significant plan(s) outlined above. The companies caution that these forward-looking statements are further qualified by other factors including, but not limited to, those set forth in FreeStar's Form 10-KSB filing and other filings with the U.S. Securities and Exchange Commission (available at www.sec.gov). FreeStar undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events, or otherwise.

CONTACT: FreeStar Technology Corp.
Company Communications
Cynthia Aadal
[e-mail]

AGORACOM Investor Relations
[e-mail]
http://www.agoracom.com/IR/Freestar

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EXPERT???? UK's Leading Electronic Banking Expert Joins Advisory Board for Rahaxi Processing Oy

DUBLIN, Ireland, July 1 /PRNewswire-FirstCall/ -- FreeStar Technology Corp. (OTC Bulletin Board: FSRT - News), an international card payments processor and technology company, today announced the appointment of one of the UK's leading electronic banking experts, John Hardy to FreeStar's subsidiary Rahaxi's Advisory Board.

John Hardy is one of the UK's leading electronic banking experts. He became the Chief Executive of LINK Interchange Network Ltd in 1989, following six years as Head of Business and then Head of Automated Banking at Girobank where he was responsible for both the development and operation of all consumer electronic services, including Electronic Funds Transfer at Point of Sale (EFTPoS) systems and home banking.

Under John's direction, LINK has become the UK's national cash machine network with 47 banking and building society and Independent ATM deployers as members. During 2007 the LINK network processed 2.8 billion transactions via 65,000 ATMs. John retired in 2007, having overseen the merger of the company with Voca, operator of the BACS network, to create VocaLink. John is also the founder and Chairman of the European Switches Forum+. John is a dynamic speaker at numerous conferences in the UK and abroad on electronic banking.

"John's credentials in executive leadership and organizational governance are a perfect fit for our Advisory Board," said Paul Egan, CEO of FreeStar and Chairman of Rahaxi. "Our Advisory Board is a laboratory for fresh thinking about the payment industry issues, and I'm sure his perspectives will encourage all of us to think about how we can meet our clients' and shareholders' needs better than ever before -- and better than anyone else."

"We are delighted to have someone of John's international payment industry experience join our Advisory Board," said Paul Warren, European Sales Director. "The expertise and insights he has gained into the many challenges of the payment processing industry today will be extremely valuable to us in serving the needs of both new and existing clients."

Source: FreeStar Technology Corporation

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We expect continued increases in transaction processing and related revenue together with hardware and related revenue throughout the next twelve months as we continue to increase our client base and service offerings. Although transaction revenue decreased during the quarter ended December 31, 2009, our goal is to increase transaction processing and related revenue during the next 12 months by obtaining additional clients and substantially increasing the number of transactions processed. We hope to offset any decreases in price-per-transaction with increased volume. Due to the global economic downturn and the budgetary constraints of potential clients (particularly in Ireland), we see a decrease in consulting services over the next six months and remain cautiously optimistic for the six months following that. In all cases, however, there can be no guarantee that our products will be accepted in the marketplace or that our sales efforts will be successfu


Net Loss

For the reasons stated above, we recorded a net loss of $1,538,014 for the three months ended December 31, 2009 compared to $5,199,598 for the three months ended December 31, 2008, a decrease of $3,661,584 or approximately 70%.

[Bertsllc]

agree, may see a pop here

[BlackThought]

indicators flat but holding the support really well.