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Ronnie, would it make any sense for the company to downplay the buyout in order to retain as many shares as possible for themselves. The shares that do not end up in the public hands would go to management, thus I would think they have a huge incentive to see this go through with little fanfare...
Ronnie. I hope you are not hinting that there may be dis---honesty in the stock market.
Chucker
Yes, this heavy volume could start to increase each day, now that we're about 13 days from D-Day. That would be a good sign. Good luck!
heavier than usual buying today. nice 130k @ .043 @ the bell
thanks.
good info RonnieD! This is one reason I love the market. Everyday i learn things that, to me, are incredibly interesting. Thanks for your insights...
Management obviously has total control of shares. They would see it as a waste of your time to attend. The ownership by the public (us) of this stock is extremely low. That's why it's at .04. The buyout is beyond our opinions. We have to just sit back and see what happens. Good to see buys today. Let's hope the buys increase as the day approaches. Remember, the co might not immediately put out a PR. So don't go selling on May 4th or 5th if there's no news released. I get the feeling that the co is trying to pocket the $$. But they will be obligated to distribute the proceeds to us at the same time they recieve their distribution.
RonnieD, you bring up some great points regarding
why we may not be able to confirm a booking at the Sheraton.
Thanks for the informative post. one thing i just thought of was this... I'm a shareholder. let's say that I decided i wanted to attend this meeting. I cannot get anyone on the telephone in mgmt to confirm, and I cannot confirm with Sheraton. So I fly to Montreal, and take an educated guess as to which Sheraton the meeting is at, and then search the place, asking anyone and everyone if they know where the FLST shareholder meeting is at?
Am I missing something here? I hope I am, because I'm holding shares and hoping the apparent writing on the wall is my own paranoia... anyone with any helpful insights please respond.
Sorry, that is too personal to ask. My company would not approve of me to disclose that on this or any forum.
Dr. D
Life in the oaks. Your post makes a lot more sense than mine. I have been in Montreal a few times some years ago and the only Sheraton worth while was the Le Sheraton Centre Montreal. Again. Your post is better than mine BUT I still like my idea of sitting around with a few beverages to make their decision, which, I guarantee you is already made, assuming they have the votes without the shareholders. At the same time I can't imagine the shareholders voting against 10 cents.
Does anyone know if the PPS was above 10 cents in the past 2 years?
Chucker
there's probably a very low number of top shareholders going. can i ask what company you are affiliated with ?
I agree with a great number of your assessments RonnieD but the company would have to make a reservation to hold a shareholder's meeting. We have our shareholder's meeting at a hotel conference room (holds 500) and we are required to reserve 30 days in advance.
Dr. D
Chucker, I think he means the fact that you are proceeding with caution, and not just assuming that the company PRs are The Golden Word. Even if this PR has some specifics in the deal structure (buyer, price, payment method). Which is MUCH more than some other companies will give.
FYI to the board, I found 6 hotels listed as Sheraton in Montreal.
1. Le Centre Sheraton Montreal Hotel
2. Sheraton Laval Hotel
3. Le Meridien Versailles
4. Four Points by Sheraton Montreal Centre-Ville
5. W Montréal
6. Four Points by Sheraton Montreal Airport
From www.sheraton.com
GLTA
LITO
I too have called Tony Papa at the number on the PR, and called Francois Amyot, who in late Oct. was named CFO and a Director of FLST. With Papa #, msg, no call back. With Amyot, I got his secretary, and he was out of the office at the time. I got the feel from her that if you try at the right time, you will get him and he will talk to you. The number has been posted and is on an Oct 27 PR. I can understand the company not elaborating further. Management gets more money off buyout on shares that aren't owned by the public. I also think that calling the hotel and not getting a booking yet doesn't mean anything. What if FLST is not staying overnight, which is probable, and the receptionist was only looking at overnight bookings ? What if they are only meeting briefly in a dining area that requires no reservations ? This is why I am holding out. The info I gathered on Puma Access seems to be the most noteworthy we have been able to attain, although it is only the business address in Florida ( see prev posts ), and www.pumaaccess.com. The connection with the prepaid visa master card apparatus of FLST and its perceivable desireability to said bidder.
As far as the general discussions here abut cutting losses, and TA, I must admit that they are very unlike my own strategy, which has done very well ( extremely actually ) over 10 years. I focus on fundamentals and achievement of company objectives. I evaluate trading not on TA,which is full of assumptions, but on bid/ask ratios and time and sales. When I see the big money dump, I dump if I am trading.
Cutting your losses short, another canard I find dangerous, is not agreeable to me because I have many times had my holdings fall and then rise up like crazy. Fundamentals. Cash. Revenues. Objectives. Niche. Increasing Visibility. etc. just my 2 cents. Am I frustrated by lack of info and verifiability ? Yes.
I hope one of you tries to call Amyot, ask him if he is still affiliated with FLST and what he may know about this, and possibly even Joe Gammerieri, if we can get the # of Puma Access. It appears to be unlisted. The consensus of this board, to keep an affordable risk portion here, makes sense to me.
Gold. You say you like my style. Do you mean the part about getting a table at the bar and having a few libations?
Chucker
EZ: I share in most of your ideals and this is different from 99% of the posters on these boards. Most of these people expect to get rich overnight and that rarely happens. Most of those go broke trying. Those of us with experience and wisdom need to stick together.
Thanks for posting!
Dr. D
EZ: Good post! I have also am frustrated with no return phone calls from the company. Why post a phone number is you do not intend on it being used? I am also considering selling off and probably will in the next run up if we don't get information solidifying the opportunity.
Sidebar - On this board, all information is helpful; both bad and good. Bashing is unsubstantiated claims, solid information is good regardless of the outlook it supports.
Dr. D
OT
gold100:
You need to get to the point where taking a loss is actually pleasurable (is that a word). When I buy and things go against me I am usually gone really fast and it feels good because I know I was wrong and took a small loss as opposed to a big one. I have a fair amount of small losses and some big profits.I use technical analysis for my buy points so I know where I am getting out if it goes against me. I tend to stick with winners a long time because I am looking for long term trends. I have been long gold and commods for close to 4 years. Anyway my 2 cents from 30 yers of investing.
OT: Thanks!
I have not perfected the art of taking a loss or taking a minor profit. I sold some AURC at .225 to wait for slight retracements and sold large portion of my NDOl on the way up, yet will buy on the next momentum leg higher, yet using a strategy of limited risk by trading the quick runs and exiting the position overnight if possible.
Playing with house money is indeed the wise trader's method.
Good luck to your future endeavours and hope our paths meet again.
OT Gold, I want to respond to you, but not distact from those who want to focus on FLST. Although cautious is a very subjective word, in general terms, your cautious approach to the market is a wise one. The market can be, and usually is, humbling. It is a game of probability. You need a systhesis of "tools" that can help you evaluate the odds of you winning. When you are wrong, you need to cut your losses. Taking a loss is one of the most difficult things to do, and everyone has them. I rarely post anywhere and don't do too much with penny stocks. Have watched NDOL:it got overextended today. Ran too much over top of bollingers. Caution usually needed when stock runs to a rally high and closes down on day. NDOL needs a little rest. Re: AURC, I actually rolled the dice on that and posted on that board a few times. I bought recently under .10 and added a substantial amount of stock as it went UP. I took some profit on AURC yesterday afternoon when it hit .23 and also sold at .23 today. Sell orders today were placed at the ask(.23) and another above ask to see how orders were handled. Still own some. Playing with house money. Might buy more on breakout. Very important to make logic your guide in decision making, not emotion. Good luck!
You do you due dilligence and so many investors rely shamelessly on others. 10+ years trading and I too am very cautious. about .005% of my portfolio... very speculative capital and I may ride it to the end and learn a lesson - but the warning signs are troublesome and I will contact management again and see what I can find as I was not able to right before Easter.
I hope I can follow you on other stocks. May I ask where else you are active?
I am a gold / silver/ commodity / energy investor. Gold for 10 years now. Great money to be made and the run is far from over. Juniors are may favrotie, pink sheets I avoid. Trying some with NDOL and AURC>>> crazy story lines last months!
Best.
If you wonder: Who would sell now, and why - I can answer for myself. I bought modestly, in the .03's with "gambling " money. I was leary about the buyout, but said stock will at least bounce. I sold into the run up yesterday afternoon and finished selling at .042 early this morning. In fact almost all of the first hour trades were mine. I have no inside information. I sold for 5 reasons. One: I called the company and received no response and I knew that also happened to others. Two: I have been trading full time for 40 years and can't recall when a stock was trading less than 50% of an all cash, buyout offer ,favored by management with a vote less than two weeks away. Three: I didn't like the deteriorating pattern of the RSI. Four: I receive all proxy materials electronically and I had received NO proxy material as of this morning. Five: I had a good percentage profit in a short period of time - so I took it. I don't know what will happen in the next two wekks, but it should be interesting. I'll watch from the sidelines and will neither gloat nor groan.To those who stay long, I sincerely hope you do well!
I like your style chuckerfmfla - you are probably a successful trader.
Goldivision--Thank you for bringing this info to our attention. Very knowledgeable poster. Re the meeting of May 3 there is only one Sheraton in Montreal that any company would consider having a meeting. It is the Le Sheraton Centre, in downtown off St. Catherine Street.
Questions to the board from a new shareholder as of 4-06-2006.Do the insiders at FLST have enough shares that they do NOT need our vote? In other words could the Officers and Board go to the Sheraton in individual rooms and on May 3 go down to the bar, get a large round table and after a few libations all vote YES or NO..
Question number 2. Might they turn down the offer " hoping" for a better offer? Could they already have a higher offer in their back pocket. I don't want to question the honesty of management as I have not been around long enough.
Scenario--The Company has a better offer and vote NO on May 3. Then everyone ( including me) bails. The PPS dives. management buys up the shares. Sometime in the future the company PRs a new offer
I am not bashing the company. I do not bash any company that I have invested in. I am simply throwing out things to ponder and get some answers.
Chucker
Toddean. Thank you. I did re-read your post and I am wrong and I apologize. I,like yoi, bought into FLST when the announcement was made. I went " lightly" as one can never tell. I went for 50,000 shares at 0.039.
Good luck to you and all FLST longs.
Chucker
Isn't Aymot with NDOL?
I think we need to try to call him - tried last week but he was out of the office.
I agree, I thought the questions are legit. I too have many concerns at this point. I want answers to why I cannot get information about this shareholder meeting and why the company does not return phone calls.
Dr. D
Great has anyone talked to the co. ?
I have called the 4 different Sheratons in Montreal and spoke to the booking manager at each one. Each one told me that as of today, no reservation has been made for a Financial Access Solutions meeting for May 3rd, or any other date. I'm not 100% sure that there isn't another Sheraton in Montreal besides the 4 that I called, but according to Le Centre Sheraton Montreal Hotel, there are only 4.
Has anyone confirmed the hotel for the meeting?
Chucker, please read my posts again, only a little slower this time and i'm sure you'll see that my concerns regarding FLST are not only legitimate, but fundamental. I own 43,000 shares of FLST that I bought @ .038 a share the day the PR about the buyout was released. I bought after the price came down from .06 to what I bought in at. Bashing??? I asked Dr.Dave a very good question in my post. How on earth can you call that "Bashing?"
Interesting post over at hotstockmarket.com on FLST:
http://www.hotstockmarket.com/forums/showthread.php?t=34669&page=45&highlight=flst
At the current price of .036, the buyout would mean an appreciation of almost 280% in 2 weeks. FLST executives and shareholders will have an opportunity in less than 2 weeks to decide whether to get 10 cents or to let the stock freefall and keep their bag of worthless shares with no investors’ interest. FLST may be worth more than the buyout price based on its achievements and revenues, but it may take years, millions of dollars, and much luck to unlock this value and attract serious investment attention. Turning down this offer will be suicide and will result in lost appreciation, lost time, and lost opportunities to invest elsewhere. Does anyone believe that FLST will stay at .036 when May 2nd comes around? Just what would happen if FLST does stay at .036 when May 2nd is here? I have my answer and some money on it that these executives are not going to vote no when no may spark an exodus that may send this thing spiraling down into the subpennies. However, I still think that there is a reason for why the executives put off the decision date to 1 month away. FLST’s public releases have been indicating that it is growing rapidly and that its products are essential and are used by thousands of businesses every day. The delay may suggest that they may have a few surprises that may catapult this stock to 10 cents and maybe more. If you were to review the highlights over this past year, you would see that this company has had tremendous growth. Many small investors might have missed it, but not the deep pockets who have been ordering or in the process of ordering this service from FLST. Puma Access has been eye balling this stock all along and seized this great opportunity when the stock is trading weakly to acquire something essential at a huge discount.
4/15/05
This agreement allows for DM2 Technology to deploy ATMs utilizing Open Solutions Canada's banking switch. The revenue stream for DM2 will be derived from the surcharge per ATM transaction. The first deployment of the ATMs begins the week of April 18, 2005. The company plans for 100 ATMs in the first phase of deployment.
5/26/05
CPCDIT has over 6,000 taxis under their membership. There are 3,000 of these taxis that are not equipped with a wireless POS terminal at the present time. Under this agreement the membership will contract with DM2 for their wireless POS terminals and to process their credit card, debit card, bank card transactions for these remaining taxis.
Historically, a wireless terminal in a taxi has averaged 200 transactions per month. This agreement will translate to DM2 processing 600,000 transactions a month and 7,200,000 transactions a year from these wireless terminals alone
6/9/05
Financial Access Solutions Technology is positioning itself to be a global leader in the debit and credit card processing industry through its aggressive growth strategy and by continuing to pursue alliances and partnerships with other leading companies that share its corporate vision. DM2 has concluded various agreements with several industry leaders and retailers such as Rogers, MasterCard International, Open Solutions, TelePlus and EasyHome.
Financial Access Solutions Technology's continued growth and rapid expansion is fueled by its growing reputation as an industry leader and by the rising choice by consumers to use debit cards and credit cards versus cash for all their purchases. Financial Access Solutions Technology sees further expansion not only in Canada but throughout North America.
8/30/05
Under the terms of the acquisition, Financial Access Solutions Technology will issue 30 million shares in a share exchange and Car-Tel Distribution becomes a wholly owned subsidiary of Financial Access Solutions Technology. ``This acquisition is both strategic and financially rewarding for our shareholders as the financial consolidations of our subsidiaries will see over $30 million CDN in sales added and experience management resources needed to continue the growth,'' said Tony Papa, Financial Access Solutions Technology's President and CEO.
9/20/05
``We have already received several inquiries for large orders of the cards and we expect to receive large purchase orders in October of this year,'' further added Mr. Papa.
1/31/06
Financial Access Solutions Technology (Other OTC:FLST.PK - News) a technology provider, specializing in point-of-sale, card products and transactional software solutions for North American merchants announced that it has successfully launched its Xcard at more than 6,800 locations in Canada.
According to our financial projections, 250,000 Xcards each represents $9.95 in recurring monthly revenue and total annual revenue of over $30 million for the company and our sales trend indicate that we could have over 250,000 cardholder within the next 36 months," further added Mr. Papa.
3/31/06
The Officers of FLST and its board of directors recommend the acceptance of the purchase offer, which represents a significant premium to the current and recent trading levels.
Just curious. Dr. Dave are you also Dr.Dave on the HISC board?
Chucker
Toddean. I see where your alias was born today and that you have a total of 2 posts both on FLST and they both appear to be bashing the company even if you state you own shares.
Chucker
I don't know because no one can find out any information about this shareholders meeting.
Dr. D
Porbably..
Someone found where the meeting is at
Somethin musta happened,
FLST up 30% @ .047 headed for .10 easy money!!
I agree. I beginning to get a bit worried about that. I would take a trip up there if I thought I could get information. At this point since I have called all of the hotels and no one knows anything, I am going to re-evaluate my risk/reward scenario with this investment and may unload at least a portion of my holdings.
Dr. D
Don't you think it is kind of strange that FLST would issue the PR with a date **and time** for the meeting without having first made the reservation with the Sheraton? I mean, what if the Sheraton is completely booked for May 3rd?? FLST issues another PR with a new date? How lame is that?!! I want this to be for real because I'm in, any thoughts on this?
I called the tranfer agent for the OS. The shareholder meeting was confirmed by the PR only. I have also called the hotels and have not gotten any confirmation.
Dr. D
Hi Dr Dave,
How did you confirm??
Also, I called every Sheraton in Montreal, I think there were
4 total, and personally talked with the banquets managers at each one and none of them had anything scheduled for FLST for May 3rd, the supposed shareholder meeting date. Do you or anyone have any additional info regarding all of this???
Thank you.
The PRs say United States Dollars (USD) not Canadian, so I am not sure why people are asking this question. ALso, the market cap and profile on Yahoo show approx 40,833,000 outstanding shares - not sure how you are getting over 400 million shares. The $9.1 million offer would indicate 91 million OS, so perhaps there are restricted shares that Yahoo is not picking up on or that only 40.8m have been issued.
The question I have is: are there any contingencies to the offer? The PRs do not mention any, thus I would say that this is a $9.1 million offer all cash and "as-is." Therefore, it accounts for whatever debts (loans) outstanding.
I would surmise that there are 91 million shares, .10 per = 9.1 million dollars.
Transfer Agent can give the updated info on share count -
Stalt, Inc., Incline Village, NV 89451
Does anyone know how many shares outstanding there are? I'm getting 408 million if you take the market cap divided by the price of share. The first news release does say .10 a share WHICH IS $9.1 million but I just can't come up with that many shares outstanding but rather half that amount.
My conclusion is that it is $.10 a share but that I have no idea how they come up with $9.1.
has anyone left a message ? An additional phone number you might try is : Contact:
Financial Access Solutions Technology Inc.
Jean-Francois Amyot
CFO
514-448-6710
whats with the .0038 quote??/ mistake--off by a decimal?
I am trying and I have not received a return call.
Called the company # and got the answering machine again....
Can someone confirm the buyout price at US or Canadian $.10?????
PK's take a human hand, so there can be a small time delay in order processing.
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