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its true' but ya never how she'll open
big stuff coming imo, why else spend the time and money to get this back to trading?
hope we'll hold this pps level' !!!
don't know. comment period on the form 10 is now, so just depends on how many comments they get, although i'm thinking it won't be that many since they already went through one to get to this point.
just wondering when is CETH going to trade again' ...
agreed. process has been in the works for a while and now we are seeing actual proof that it is :)
i hear ya. holding a huge position myself... at least positive solid progress with that filing.
Nice, I've been waiting for them to come back stronger than before. I literally bought a chunk of this just a couple days before it was de-listed.
Some big brewing imo...
So they got halted, not good... we know some kind of project/merger was in the works.
Why not just move that project to another shell and forget about CETH? It would be cheaper and faster to do that...
But instead, we see they are working to bring CETH back from the dead.
That to me indicates some big things in the works here, big commitments that are tied to CETH and could make this into something huge.
So why do I say all this?
CETH has filed a FORM - 10 !!
http://www.sec.gov/Archives/edgar/data/23778/000126246312000481/convergenceethanolform10.htm
still waiting on filings to be done - hope we hear anything soon
Exactly, there are stupid Investors, like us ... they wont be protected and there are potentially "future Investors" ...
Beside that, it should be a big warning to the whole OTC Market. Things are changing ...
In all instances the SEC cannot retro-actively protect any current shareholders of any stock that they deem has committed Securities Violations or has failed to file timely Financials as in the argument against CETH. The SEC can and will, however, protect "potential" investors (ie., new investors) from investment losses.
I still fail to see how this action is 'protecting' investors. This action from the SEC screwed us more.
I'm pretty new at all this, what does them being revoked mean for investors?
What were you telling me about this stock again? That it would be revoked and folks would be wiped out?
As for debates, I think the facts speak well for themseves, no?
I guess that is dead money now....
CETH revoked:
http://www.sec.gov/litigation/admin/2012/34-67117.pdf
From May 18th, 2012:
CETH SEC Suspension:
http://www.sec.gov/litigation/suspensions/2012/34-67015.pdf
ORDER:
http://www.sec.gov/litigation/suspensions/2012/34-67015-o.pdf
ADMIN Proceeding:
http://www.sec.gov/litigation/admin/2012/34-67016.pdf
Any updates on this...
Is this going to stay dead or is it going to come back to life?
well - papers might be in the work to clear that problem
latest news http://ih.advfn.com/p.php?pid=nmona&article=52131138
hopefully / it cames at the right time
Convergence Ethanol, Inc. (“CETH”) (CIK No. 23778) is a defaulted Nevada corporation located in Las Vegas, Nevada with a class of securities registered with the Commission pursuant to Exchange Act Section 12(g). CETH is delinquent in its periodic filings with the Commission, having not filed any periodic reports since it filed a Form 10-QSB for the period ended June 30, 2007, which reported a net loss of $5,941,752 for the prior nine months. On December 21, 2007, CETH filed a Chapter 7 petition in the U.S. Bankruptcy Court for the Southern District of Texas, which was still pending as of May 11, 2012. As of May 11, 2012,
the common stock of CETH was quoted on OTC Link, had eleven market makers, and was eligible for the “piggyback” exception of Exchange Act Rule 15c2-11(f)(3).
sounds good /
Suspended? Hmmmmm. Wonder why?
Ahh, here it is....http://www.sec.gov/litigation/admin/2012/34-67016.pdf
Thanks for posting that Renee.
www.cethinc.com for updates on the company. Website is being completed spoke to someone there at the company who said sec filings will be completed and stock should be ok soon.
I don't know anything about CETH other than the SEC Suspension and Admin Proceeding.
I do know that CETH had better submit all delinquent yearly Financials ASAP or else.
What does this mean for the gold project which went into CETH ?
Well, it appears that way ...
Where they allowed to enter into the agreement for an RTO ?
Bummer. I have one of these gray POS stocks in my portfolio. Woke up one day to a SEC suspension then it was dead for quite some time. When it came back it dropped to .0001 almost instantly and barely seen any action since. That one was a foreign solar farm scam.
All Suspensions are for the full ten trading days. After the CETH Suspension is over the stock will then trade on the Grey Sheets with no Market Maker representation, ie no bids and no asks and no facilitating trades. **** Brokers are permitted to let shareholders sell their shares but some Brokers may not allow buy orders for a Grey Sheet stock. It is best to phone a Broker to know their policies on trading Grey Sheet stocks.
Excerpt from the Suspension: (red hilite mine)
Brokers and dealers should be alert to the fact that, pursuant to Exchange Act Rule 15c2-11, at the termination of the trading suspensions, no quotation may be entered relating to the securities of the subject companies unless and until the broker or dealer has strictly complied with all of the provisions of the rule.
http://www.sec.gov/litigation/suspensions/2012/34-67015.pdf
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CETH has ten days to either file all delinquent yearly Financials or to contact the SEC to when the delinquent yearly Financials will be filed. In the last link in this post readers can see how fast the SEC will likely revoke CETH unless CETH completely satisfies the SEC regarding the delinquent yearly Financials.
Excerpt from the Admin Proceeding:(red hilites mine)
B. Whether it is necessary and appropriate for the protection of investors to suspend for a period not exceeding twelve months, or revoke the registration of each class of securities registered pursuant to Section 12 of the Exchange Act of the Respondents identified in Section II hereof, and any successor under Exchange Act Rules 12b-2 or 12g-3, and any new corporate names of any Respondents.
IT IS HEREBY FURTHER ORDERED that Respondents shall file an Answer to the allegations contained in this Order within ten (10) days after service of this Order, as provided by Rule 220(b) of the Commission’s Rules of Practice
http://www.sec.gov/litigation/admin/2012/34-67016.pdf
------------------------------------------------------------------
The ALJ has revoked over 540 registrations in the last two years for companies that did not file all delinquent yearly Financials as ordered. Many revocations occured within one month of the initial Suspension and Admin Proceeding.
http://www.sec.gov/alj/aljorders.shtml
How does the suspension work?
Is the suspension lifted as soon as they get their financials up to date and file with SEC?
here the rest
hello
they have hired an accounting firm and the updated paperwork should be filed wiht the sec in the early part of next week
regards,
PSR
ceth is on promo on pennystockrally
did send a email why promo on ceth when they are sec suspension
hello
they have hired
6.
Convergence Ethanol, Inc. (“CETH”) (CIK No. 23778) is a defaulted Nevada corporation located in Las Vegas, Nevada with a class of securities registered with the Commission pursuant to Exchange Act Section 12(g). CETH is delinquent in its periodic filings with the Commission, having not filed any periodic reports since it filed a Form 10-QSB for the period ended June 30, 2007, which reported a net loss of $5,941,752 for the prior nine months. On December 21, 2007, CETH filed a Chapter 7 petition in the U.S. Bankruptcy Court for the Southern District of Texas, which was still pending as of May 11, 2012. As of May 11, 2012, the common stock of CETH was quoted on OTC Link, had eleven market makers, and was eligible for the “piggyback” exception of Exchange Act Rule 15c2-11(f)(3).
Yet they filed with Pink Sheets on March 5th, 2012 and subsequent to that an 8K on Feb 28, 2012 - An SEC filing at that:
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED): February 28, 2012
CONVERGENCE ETHANOL, INC.
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
On June 16, 2011, the District Court in and for Clark County, Nevada, issued an order (the “Order”) appointing Joseph Arcaro as custodian of Convergence Ethanol, Inc., a Nevada corporation (the “Corporation”). Pursuant to the Order and applicable state law, the court-appointed custodian by and through his counsel of record, Fox Rothschild LLP, reinstated the Corporation’s charter with the Nevada Secretary of State and has taken other required actions to revitalize the Corporation, including the appointment of Mr. Arcaro on an interim basis to serve as the Corporation’s President, Secretary, Treasurer and sole Director until such time as his replacement(s) can be appointed.
On January 31, 2011, the court-appointed custodian entered into a definitive agreement with Industrias y DesarrollosMineros Alfa SAS (“Industrias”), pursuant to which Industrias will be merged into the Corporation. Industrias is in the mining and mineral exploitation industry.
http://www.otcmarkets.com/stock/CETH/financials
I'm at a loss here ...
CETH SEC Suspension:
http://www.sec.gov/litigation/suspensions/2012/34-67015.pdf
ORDER:
http://www.sec.gov/litigation/suspensions/2012/34-67015-o.pdf
ADMIN Proceeding:
http://www.sec.gov/litigation/admin/2012/34-67016.pdf
very light trading today...
hmmm
Like I said, this trading makes me believing the next leg will come ... only part of the buying came back in the Market and I dont see any dilution. Someone is expecting to get more out of it ... Lets see.
LOL Like I said
your still in or sold whit a loss
Choked him and threw him out long ago.. Not a one for hanging on to dead birds Good luck to you!!!
you better kill that birdie
hopefully -TIME to go now
A few points from something I found yesterday:
"It seems that it's only promotions that could pump up CETH right now as any recent news on the company is presently missing.
In March, the company filed its unaudited annual results for the period ended December 31, 2011. Though, they were disappointing.
According to the report, cash and cash equivalents totaled zero, net loss pointed $(.01) per share, and retained deficit remained over $22 million.
Judging by these numbers, obviously Convergence is not in its best shape and no one can predict if and when it's going to get profitable."
Not mine so no need to kill the messenger.
L2 .02 ask looks like something might be up here.
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www.indemiagold.com
Video of Mining Operations at Choco Placer Mine
http://vimeo.com/37206106
One of the key measures of success we evaluate in our drive to becoming a gold producer is the degree to which we positively impact the communities in which we operate.
Trust, cooperation, collaboration and a deep respect for the local people, their language, livelihoods, traditions and customs, are at the heart of our approach to exploration and development. We engage early in open honest dialogue with the local communities and stakeholders, and are committed to ensuring that they realize the maximum possible benefit from our activities. The company recognizes that although it is granted exploration and development rights from the government, it must also gain the support, participation and commitment of local communities and government.
Indemia meets with its stakeholders to explain the mining cycle, from exploration through development, production and reclamation, to ensure they understand what to expect, and when. We listen to and understand their developmental priorities and highlight the benefits and opportunities that our activities can provide in the short and long term. This includes improved access to clean drinking water, healthcare, better sanitation, employment and safe working conditions, and training. On a regular basis, we keep these stakeholders apprised of our current exploration activities in their region, and inform and remind them of safety precautions.
We also recognize that our development and sustainability efforts are part of a broader set of activities being driven by the communities, governments, NGOs and other organizations. As such, we work closely and collaboratively with these groups at the appropriate stage to help ensure we are efficiently aligned with these programs, so that the impact of our initiatives is maximized.
Harold Carillo- Chairman of the Board
Mr. Carillo is the founder and visionary of Indemia Gold Inc. and has extensive background in the corporate, non-profit law, and government sectors. He graduated with a Bachelor Degree in Law from Universidad del Norte in Barranquilla, Colombia and has built the strong underlying community support currently behind the company. Mr. Carillo is the key person leading the companies' aggressive growth and acquisition strategy in Colombia.
Gustavo Perez- Executive VP, Director
Mr. Perez brings over eight years of international management and consulting experience to the team. He is fluent in both English and Spanish and received an M.B.A. from the Mays School of Business at Texas A&M University. His resume includes a Global Wealth Management at Scotiabank and Commercial Banking at Royal Bank of Canada. Mr. Perez is a vital leader in implementing a streamlined business plan between the U.S. and Colombian teams.
Market Value1 | $10,346,087 | a/o May 09, 2012 |
Shares Outstanding | 574,782,624 | a/o Mar 13, 2012 |
Float | 11,851,578 | a/o Mar 07, 2012 |
Authorized Shares | 690,000,000 | a/o Jan 03, 2012 |
Wells Fargo Tower
3800 Howard Hughes Parkway, Suite 500
Las Vegas, NV 89169
Phone: 1.209.386.7753
Carrera 1b # 11f - 51
Malambo, Atlántico, Colombia
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