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How much is each tower worth and how many towers does cigw own??because if they own 200 towers not including sites ,from my calculations it is roughly 200 Milion dollars? Help me out here ,why would they give it away,if cigw is worth 200 million dollars 300 million $$ just saying and why go with a private company he could have gone to American tower or crown castle I just don't get this f#!#!##n guy mcginn.
Contact SEC they are the ones who have to approve it from the doc's & PR?
Yeah, He felt sorry for us since the price was so low that he did something to make it go lower so we could have a buying opportunity and average down!!! Not buying that on this end!!
People on the yahoo board are contacting the Nevada attorney general ,why were there no other bids for this company it is worth more than 143 million something is up
WTF does that link have to do with CIG? There was no PnD here, this is case of outright larceny by the majority shareholder and executive management
WORTH READING - - -> www.sec.gov/answers/pumpdump.htm
There has to be a way to put a speed bump into their plans. We have 30 days to figure out where, who, how and at what cost we can file a class action lawsuit.
Hey McGinn call American tower and get a deal with them at least they are a public company and the shareholders won't get screwed,you really hurt a lot of people ,McGinn you are not nice person!!
We have to stop this deal from going thru,so McGinn has to go back to work this deal must be stoped!##
It is so obvious that Fir Tree came up or initiated the "bonus program" to get the 3 village idiots on board for this wonderful deal? This makes McGinn, Gay-Grosier & Hoffe better known of late as Mo, Larry & Curly look like the bandits when it is F-Tree that are the C-SuKer's. McGinn is not smart enough to pull this whole thing off, heck he let Fir Tree rob the company from him and the shareholders back in August of 13 with their 35MM buy in and managed to get the majority voting rights. So McGinn is and has been on the bus for all of it and will pay the price! Hopefully the deal won't get kissed by the SEC and McGinn has to go back to work the Fat Fck!!!
Yeah it's sad because the company really seemed Genuine. A CEO with experience and a billion dollar hedge fund that deals with many stocks on higher exchanges.
I bailed because I just thought the revenue was taking too long to generate compared to the debt they had. But this current news is just a reminder that the OTC game is very dangerous.
Just in case those of you who are contemplating a legal path and need some background on how the Castaldos were pumping this investment to be the stock market buy of the century. I was also considering taking my loss on CIGW at the end of the year and received calls late into the year from WSB&H as to how strong CIGW was going to be and to rest assured it was a great investment with nothing but huge upside potential. As it turns out, in my thinking, it's no small coincidence that Fir Tree Cap. principals are also out in Long Island.
We've all been scammed with a multi-million dollar shell game.
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On Jul 14, 2014, at 12:09 PM, "Jerry Castaldo" < jcastaldo@wallstreetbuysellhold.com> wrote:
XXXX, 2nd quarter revenues should be announced by next week and we could see them in excess of $2M
Thank you
Jerry Castaldo
Managing Principal
jcastaldo@wallstreetbuysellhold.com
Wall Street Buy Sell Hold Inc
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Glenwood Landing, New York 11547
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Wall Street Buy Sell Hold Inc
A Wall Street Buy Sell Hold Inc Publication ---- All Rights Reserved
Update Coverage Report
May 27, 2014
CIG Wireless Corporation (CIGW OTC $0.70)
CiG Wireless Corp Announces First Quarter 2014 Results
CiG Wireless Corp May 23, 2014 4:05 PM
ATLANTA, May 23, 2014 /PRNewswire/ -- CiG Wireless Corp (CIGW) today announced its earnings for the three months ended March 31, 2014. CiG Wireless Corp (the "Company") headquartered currently in Atlanta, Georgia is a growing company that operates, develops and owns wireless communication towers in the United States.
Revenue for the three months ended March 31, 2014 was approximately $1.6 million compared to approximately $0.5 million in the same period of the prior year. The increase in revenues of over $1.0 million or 200% was attributable to the acquisition of 100 towers and the construction of three towers during 2013 and the first quarter of 2014. The addition of 100 towers to the Company's portfolio was accomplished through the acquisition of 38 constructed towers from Liberty Towers, LLC in August 2013, the acquisition of 49 constructed towers from Southern Tower Antenna Rental, LLC completed in multiple transactions, the acquisition of 12 constructed towers from PTA, FLA, Inc. completed in multiple transactions and the acquisition of one constructed tower from Fidelity Towers, Inc.
Loss from operations for the three months ended March 31, 2014 was approximately $2.0 million, which was generally flat compared to the same period for the prior year. Depreciation, amortization and accretion expense for the three months ended March 31, 2014 increased by approximately $0.7 million or an increase of 1.7% compared to the same period for the prior year. The increase was attributable to the addition of 103 towers to the Company's portfolio of assets that took place during 2013 and the first quarter 2014.
Net loss for the three months ended March 31, 2014 was approximately $18.3 million compared to approximately $2.4 million in the same period for the prior year. The increase in net loss was the result of the change in the fair value of derivatives of $14.7 million, indemnity fees of $0.9 million and higher interest expense in connection with the increase in the Company's borrowings under its credit facility entered into in September 2012 (the "Credit Facility").
As of March 31, 2014, the Company's cash and cash equivalents balance was approximately $2.0 million. During the three months ended March 31, 2014, the Company paid approximately $4.1 million for acquisitions and the construction of antenna towers. These payments were funded through proceeds available under the Credit Facility and the issuance of Series A-1 and Series A-2 Preferred Stock.
As of March 31, 2014, the Company owned 170 wireless communication towers and had a geographical presence in 23 states. Approximately 93% of the Company's revenues were derived from site rental revenues of the Company's communication towers.
The Company started the process of relocating its corporate headquarters to Florida. This process is expected to be completed during the third quarter 2014.
About CiG Wireless Corp
CiG Wireless Corp (www.cigwireless.com) is a leading independent owner and operator of wireless communication infrastructures in the United States. The primary focus of the Company is leasing antenna space on its multi-tenant towers to a variety of wireless service providers under long-term lease contracts. The Company's common stock is traded publicly in the US on the OTC Bulletin Board (CIGW) and on the Entry Standard of the Frankfurt Stock Exchange in Germany (ISIN:US12551W1071).
Safe Harbor Statement
This presentation contains "forward-looking statements" as defined in the U.S. Private Securities Litigation Reform Act of 1995. These statements are based upon the Company's current expectations and speak only as of the date hereof. These forward-looking statements are based upon currently available competitive, financial, and economic data and management's views and assumptions regarding future events. The Company's actual results may vary materially from the forward-looking statements as a result of various factors and uncertainties. The Company cannot provide assurances that any projections, goals, future events and other prospective matters described in this press release will be successfully completed or that the Company will realize the anticipated benefits of any transactions. Various risk factors that may affect the Company's business, results of operations and financial condition are detailed from time to time in the Annual Report on Form 10-K and in the Current Reports on Form 8-K and other filings made by the Company with the U.S. Securities & Exchange Commission. The Company undertakes no obligation to update information contained in this presentation.
Contact:
Paul McGinn
Chief Executive Officer
678-332-5000
Please review the CEO Interview noted below as well as the accompanying writeup on CIGW.
We would like to present a CEO interview conducted by Chris Castaldo, President and CEO of Wall Street Buy Sell Hold Inc.,with Paul McGinn, President, CEO and Director, of CIG Wireless. If the video doesn't open please click here
Overview of CIG Wireless Corporation
CIG Wireless Corp. develops, operates, and owns wireless and broadcast communication towers in the United States. It primarily engages in leasing antenna space on multi-tenant communication sites to wireless service providers under long-term contracts.
Based in Atlanta, CiG's primary focus is leasing antenna space on its multi-tenant towers to a variety of wireless service providers under long-term lease contracts.
Company target to be ranked a top 20 U.S. based tower company approaching 600+ towers by the end of 2014
CiGw plans to expand its footprint by building new and acquiring existing towers through a robust pipeline of opportunities.
Data demand is expected to continue to drive future wireless growth and demand for cell sites
North American mobile data traffic is projected to grow over 9x from 2012 to 2017.
Tower companies are expected to continue to benefit from steady carrier CAPEX spending;
Total U.S. wireless capex ranges from $25-$53 billion annually, with AT&T and Verizon accounting for the majority of the spending (per Wall Street Market Research, January 2013)
U.S. 4G buildout could mean $25-53billion in infrastructure investment
Tower companies would benefit from all of the above in the form of carrier Capex:
Lack of spectrum drives cell-splitting (which adds additional antennas to towers)
Redevelopment of existing towers
Additional spectrum (also required redevelopment)
CIGW is Uniquely Positioned to Benefit From Consolidation of Smaller Tower Operators.
Access to Capital:
Access to an additional $140 million of debt to finance acquisitions
Public company status allow CiG the ability to pay for some or all of acquisition with stock
Experienced Management Team:
Strong customer lease-up capability, sales and marketing experience
Knowledge of where and from whom to purchase tower assets
Know how how on writing of purchase contract to accrue benefit to CiG
Potential for joint acquisition deals where seller (i.e. private equity fund) can remain partially invested
Extensive pre-acquisition analysis to determine lease up potential by experienced team to maximize revenue gain post closing
Management Team:
Paul McGinn President, Chief Executive Officer & Director
Over 18 years of experience in the wireless tower industry
Former Director of Acquisitions at SBA Communications
Responsible for acquiring over 3,500 towers, including towers from Telecorp, Verizon, Cell South, Page net, among others
Previously founded and led TCP Communications
Grew portfolio to over 250 towers and successfully sold the Company for 2.2x equity after four years
Romain Gay-Crosier Chief Financial Officer & Treasurer
Chief Financial Officer and Treasurer of CiG since 2011
Responsible for cash management and reporting processes to the Board of Directors and third-parties
Previously Chief Financial Officer and Treasurer of ENEX Group and its affiliated companies
Significant experience across numerous industries including aviation, telecommunications and renewable energy
You may also learn more about the company by visiting their website http://www.cigwireless.com/
Chris Castaldo
Chris Castaldo
Founder, and President of Wall Street Buy Sell Hold, Inc.
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Where is Christopher Castaldo when you need him? I was told how upstanding and reliable the CEO was. Not complaining that I had the chance to make money and should of instead of actually thinking I have found my retirement ticket with this stock. Go to http://wallstreetbuysellhold.com/ and see our CEO as the fourth interview to the right on the top row.
Wish I would of followed you septmike09. Glad you are OK, for a whole lot of others here are bleeding on the battlefield.
I am glad I got out at the end of last year on this. Still watched in on my ticker. I can't believe there is nothing illegal about what those guys just did. Screw the shareholder and take a bonus. WOW!!!!!!
GUNS...All penny stock shareholders should be required to carry one!
realisation event that was the event that they were selling and they knew they were selling two vertical bridge that's why they put realization event
march 20 2015 each participant under the plan is granted the right to receive a bonus up on the confirmation of a realization event
on March 20, 2015, the Board of Directors (the “Board”) of CIG Wireless Corp. (the “Company”), acting pursuant to a recommendation from the Compensation Committee of the Board (the “Committee”), approved the CIG Wireless Corp. 2015 Incentive Bonus Plan (the “Plan”). Awards granted to Paul McGinn, President and Chief Executive Officer of the Company, Romain Gay-Grosier, Chief Financial Officer of the Company, and Michael Hofe, Chief Operating Officer of the Company, under the Plan replace the awards of restricted stock awarded to such employees under the special management incentive program (the “MIP”) established under the Company’s 2014 Equity Incentive Plan, which awards will be cancelled and void effective upon payment of their Initial Payments (as defined below).
Each participant under the Plan is granted the right to receive a bonus upon the consummation of a realization event. The amount of a participant’s bonus under the Plan will be equal to such participant’s applicable percentage of the Plan’s total bonus pool. The total bonus pool will be an amount equal to a percentage of the total net proceeds of a realization event. If the total net proceeds are between $17,500,000 and $18,500,000, 3.14% of the total net proceeds will be contributed to the plan bonus pool, and if the total net proceeds are greater than $50,500,000, 7.62% of the total net proceeds will be contributed to the plan bonus pool. If total net proceeds are between $18,500,000 and $50,500,000, a percentage between 3.14% of the total net proceeds and 7.62% of the total net proceeds will be contributed to the plan bonus pool, as set forth in the Plan. If there are no outstanding awards under the Plan at the time the realization event occurs, the bonus pool will be zero.
We'ed get thrown in jail in the private sector if we did this to employees.
Does anyone have the accurate information as to the number how many shares of common stock are out? We need to realize that it's possible, even probable, that those who have the most to gain are the ones who are purchasing the "panic shares" being sold . . . given the numbers that Paul and others have gained on this deal, what's $30,000.00 to buy a million shares @ .03 / share - - especially if down the road he or others, "in the know", may get back a penny or two as noted in the paragraph on funding. Having watched my 200,000 shares become virtually 0 in a few hours yesterday, I'm skeptical of anything except real numbers backed up with concrete facts. If someone has viable logic, now's the time to put it out there for us to read. Or let us know who's forming the class action suit. We have the month of April to make a case for this not to go thru the due diligence process, that is, if we can prove foul play took place in manipulating the price. Otherwise, we lick our wounds and move on.
IT WON'T BE ME, AND PROBABLY NOT ALOT OF OTHER INVESTORS, BUT TIC TOC CEO AHOLE!
I HOPE GUNS ARE LEGAL IN HIS STATE!
NEVER HAVE I SEEN THIS HAPPEN. YOU BET THE ATTORNEYS WILL BE LINING UP TONIGHT AND TOMORROW. WILL THAT HELP US OR HURT US...WHO CARES. THE CEO DESERVES JAILTIME AND FINES FOR JUST THINKING ABOUT STEALING ALL COMMONS MONEY AND RUNNING AWAY WITH IT TO START HIS CRIMINAL BEHAVIOR ALL OVER AGAIN. I HAVE A JOURNALIST IN ATLANTA WHO ALREADY HELPED TO PUT SEVRAL CEO'S IN JAIL AND BANNED FOR LIFE AND FINED. THIS SCUM WILLPAY!!!!!!!
guess thats the style for otc misdeeds..lol
What about the old west? When men had to account for their misdeeds.
In OTC world they can get away, thats the problem..
It sounds I legal to do that but they have screwed us already so
may be they are slyly gobbling up all the cheap shares sold by panic sellers
I hope your right black mask but why didn't they put it in from the start??
I hope your right about the open offer because Pauly lied to us
In any takeover/merger scenario involving buying a controlling stake (>50%) will lead to making an open offer for at least 20% of the public float, the buyer has to do this before taking this public company private, so i am hoping for a bounce here...if they fail to do open offer, they can be put under litigation
I think if we get screwed the CEO needs a good screwing where he will feel it. If we don't get screwed we will be happy. Not looking so happy now. Everything I was told about how upstanding this CEO was seems to be in question. I hate MF's that screw me out of my money.
Well I believe he will be in litigation for the next 10 years and hopefully spending whatever he may get on legal fees. Him and the French pr--k Roman
He is a total POS, bonus award plans!!! Full knowing what was ahead for the company
After yesterday and today's news this is not looking so good anymore.good going Paul thanks
What's the current market cap compared to that 4 mill
This could be worth .5 or more with a better deal. Right now I believe the common would take approx. .05 plus 25% of overage. imo dp
4 million dollar termination fee, very unlikely
Another company will step in like sbac or American tower or crown castle
With a private company, wake up
Read the funding portion of the 8k everyone will be paid according to the funding portion
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