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Revoked! Too funny. And the pumpers tried to tell me that this wasn't a scam. Sorry for your losses folks. Petry probably has nothing to sue for. Any money he had has long since been hidden. But, folks really ought to press for criminal prosecution.
I didn't spend but Ten Dollars and got 7500 shares. Im wondering what happens next, I knew the risk before I got into this market game and I really didn't think something like this would happen after seeing the stock for this company rise as hi as it did. Class action suit huh? if it works or not count me in. That person should still be held liable for his fraudulent actions.
Did I mention his daughters house goes to Sheriff sales in 11 days, yep it does. How much stock did she get stuck with?
By the way, according to the Portage County Auditors office, Bob owns his house not Fine Line waste paper.
Petry has been a snake for years, we all should have known better.
That's just funny. you are really going to sue someone that has nothing? and what are you going to sue for? buying a stock that hadn't updated its filings since 05? just learn your lesson and move on. the real folks that ought to be sued are the SEC bastards. they are the ones that dropped the ball for 5 years.
I think we would have enough people for a class action.
If you are actually doing this...please let me know.
Does he have anything to sue? he has nothing? his house was even in FNLH.
I am sueing ROBERT V. PETRY and I suggest you all do the same. Hammer
Another Petry scam
They better learn or they'll be out of this game in a hurry.
jmo
I couldn't agree more and I have stayed away from those folks ever since. Still a hard lesson to learn. Good luck.
Do you really want to know? lol, lol....
I sold 330,265 shares on 8/10/2010. I was actually amazed on how quick it did sell; about 10 minutes, and I believe mine was the only one for that day.
As you say, it's at least better than nothing. Probably many weren't as lucky.
Thanks Janice, but I already sold at $.0003 either last week or the week before. Hate to take such a big lose, but better than nothing.
Remember: the revocation won't be final until tomorrow. You still have a little less than an hour in which to try to sell. Probably the MMs won't want to buy, but it's worth a try.
http://www.otcbb.com/asp/dailylist_detail.asp?d=08/23/2010&mkt_ctg=NON-OTCBB
Well, this was a first for me and hopefully the last. GLTA!!!
What a suprise, everyone here who got burned, think of how you got this play and who were the folks at the root of the problem pumping this from the begining. Expensive lesson, but a cheap one if you actually learned a lesson and stay away from same folks down the road on the next scam job, jmo.
Good luck and may your future trades be dark green.
thanks Renee. Sad day for shareholders. Toast!
FNLH , registration revoked :
http://www.sec.gov/litigation/admin/2010/34-62757.pdf
Has anyone selling here gotten more than .0004 for their shares?
Surprise Surprise. Someone bought my shares offered at .0003 for .0004. Don't know why but now out of this POS for big loss. GLTY
Nice, Nice. Well I will hold to see what happens. Not like I have a choice. If the shell is sold I might get enough for a cup of coffee.
pr
well "slamming head against table" was taken...
Holding? Or can't get rid of?
pr
You bought into a good example.
Ceo's run these scams?
They don't make tens of millions for their shareholders. They make tens of millions for themselves.
sounds fun. who is good at it?! :p
i like jumping on rides!
I don't think this one was all that successful. But some make tens of millions.
i get ya. how often though? w/ success.. how much money do these people make?
In the pennies? VERY often.
you seem to be a smart cookie. :)
hi! how often these scams go on?
Ouch, when the captain leaves the ship it is definitely not a good sign! A valuable lesson learned and one surf and turf din-din...priceless hopefully...
zagdad
Yeah thats what I had figured. I had a hard time thinking there was nobody facilitating trades, and that it was only your broker calling around. Thats makes sense, their still there only they don't quote the stock.
The MMs can't make a market or publish quotes. But they do handle trades. Those trades must be called in by buyers' and sellers' brokerages.
Just sold some. I thought there was no MM on the greys?? TDA says different:
FNLH
Order Number: 6595646112
Session: Regular Market Hours
Routing: ETMM
Date Entered: 08/03/2010
Time Entered: 14:08:26
Commission: 9.99
Sales Fee: 0.01
I sold my shares
this morning. So nice to see $3017 (value before suspension) turn into $82. Thanks for the tax writeoff Petry...you POS. Lesson learned...will make me a better trader in the long term.
welcome to the grey sheets. Pick a ASK you think will work or you can live with. So far today .0003 is
is anyone able to sell shares? i seem to be having an issue when i go to sell, also theres no bid or ask to view?
I'm still hoping for the best. I just hope the best hasn't already passed us.
What the HELL do you do if your holding 3mil shares.............EAT IT.........PETRY is gonna pay for this one way or the other......I bought my shares from back in 2006 and he took 10 years off my life with what he put me and my family through..........HE NEEDS TO BE PUT BEHIND BARS.....Hammer
I think it'll become more difficult to flip. And naturally nobody wants to be caught when the revocation is announced.
meaning...? people will continue to flip it til at least mid-late august if you ask me.
It won't, though the extreme volatility should die out...
except there is a rather large net operating loss that is tax deductible here. and there aren't that many outstanding shares as it is. but I would bet on the side that no one will buy this shell anyway.
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Fineline Holdings, Inc.
7356 Westview Dr.
Kent, OH 44240
Phone: 1 -330-283-5635
E-mail: fineline@finelineproperties.com
SEC EDGAR - Fineline.
http://www.sec.gov/cgi-bin/browse-edgar?company=fineline&CIK=&filenum=&State=&SIC=&owner=include&action=getcompany
Frantfurt Listing
www.boerse-frankfurt.de/EN/index.aspx?pageID=35&ISIN=US31787Y1091
http://finance.yahoo.com/q?s=fld.f
Updated share structure As of ~ October 2nd 2009*
O/S = 127,724,080
We have spoken to the CEO and the form 15 has been filed and the CEO is wanting to remove the stop sign from pinksheets. Below is the verified share structure from the Transfer Agent on 7/10/2010.
[b]Authorized = 200,000,000
Outstanding = 175,724,080
Restricted = 46,680,075
Unrestricted = 129,044,005
Float (shares on deposit or "street") = [color=red]74,915,183[/color]
[/b]
As you can see from www.otcmarkets.com, the form 15-12G was filed on July 8th. This is the first filing since 2005.
[img]http://i34.photobucket.com/albums/d130/bmwboyee/FNLH1512G.jpg[/img]
[b][color=red]It is very common for a company to file a 15-12G and then proceed with a reverse merger.[/color][/b]
With the current share structure and also a [b][color=red]$9 million tax loss carry over[/color][/b] that could be used on a reverse merge it is very likely the CEO is considering reverse merging his own private company, Petry Power Systems, Inc. Below are some of the advantages describing the tax loss benefits:
http://www.otctraders.com/benefits.html
[b][color=red]The Benefits of Going In Reverse[/color]
[/b]
Following are some of the primary benefits entrepreneurs and their companies can reap with a reverse merger transaction:
· Imperviousness to market conditions: Conventional IPOs are risky for companies to undertake because the deal depends on market conditions over which senior management has absolutely no control. That is, if the market is off, the underwriter may pull the offering. The market doesn't even need to plunge wholesale. If a company in registration participates in an industry that's making unfavorable headlines, investors may shy away from the deal, causing it to run out of gas on the runway.
· But with a reverse merger, the deal rests on whether the people who control the shell like the private company and desire to be acquired by it. Market conditions have almost no bearing on the situation.
· Compressed Timetable: Regular initial public offerings can drag on for a year or more, from when the idea pops into the chief executive's head until he or she actually gets a check. Unfortunately, when a company transitions from an entrepreneurial venture to a real public company fit for outside ownership, senior management's time is at its most valuable. Time spent in seemingly endless meetings and drafting sessions can have a disastrous effect on the growth upon which the offering is predicated, and even nullify it. In addition, during the many months it takes to put together an IPO, market conditions can deteriorate, closing the "IPO window" on a company.
· By contrast, conditions permitting-which means, among other things, two interested and willing parties-a reverse merger can be completed in 30 days.
· Reduced Expenses: For a real IPO, it can cost as much as $200,000 just to get a preliminary prospectus on the street. To actually bring the deal to the closing table, the costs increase. A reverse merger, however, can be done for $95,000 to $150,000.
· Corporate Income Tax Shelter: [b][color=green]Many shell companies have what is known as a tax-loss carryforward. This means that a loss incurred in previous years can be applied to income in future years. When this occurs, the future income is sheltered from income taxes. Since most active public companies become dormant public companies through a string of losses, or atleast one large one, there's a better than average chance the shell you meet will offer this opportunity.[/color][/b]
· (As discussed in the following pages, however, the shell company's previous history can rub off on you, which turns out to be one of the biggest drawbacks to reverse mergers.)
· More Ways To Raise Money: The primary reason to do a reverse merger is the greater number of financing options that become available to companies once they are public. Some of these include:
1. The issuance of additional shares in a secondary offering
2. Exercise of warrants. Warrants are options that give the holder the right to purchase additional shares in a company at predertermined prices. When many shareholders with warrants -- which a public company can easily issue -- exercise their option to purchase additional shares, the company receives an infusion of capital, as shown in the chart below.
3. Private Offerings. Many, many more investors will step up to the plate for a private offering of shares once they know there is some sort of mechanism in place for them to resell their shares if the company succeeds. Most investors realize that even a successful company may not be able to go public if market conditions are off. But a company that is already public ....that's a different story. If it succeeds, there is a greater likelihood of developing a market for its common stock that accurately represents the company and lets investors sell their shares.
A Good Deal: Even if the market crashes while you're working on your reverse merger, it probably won't kill your deal. For the shell company with a few assets and little or no story to tell, a good merger is good news and worth pursuing, no matter what market conditions are.
Here is some information pertaining to Petry Power Systems own by the same CEO of FNLH:
[b][color=blue]Welcome to Petry Power Systems[/color][/b]
Petry Power Systems is a Research and Development company that has developed three different systems to address the need for "greener" vehicles. The first system is a revolutionary system that will allow electric cars to drive coast to coast and back without ever needing to be recharged. The second system will allow internal combustion engines to reduce fuel consumption by 50%. It is designed for all cars and trucks that are on the road today. The third and newest system will apply the PPS technologies to locomotives and will allow the trains to deliver more freight, and do it more economically, than ever before.
[b]
2.1. Company Ownership[/b]
Petry Power Systems, Inc., will be a Nevada Corp. Robert Petry and Family will retain control of the company.
We realize there will be a need to raise capital for Petry Power Systems. The initial capital will be used for prototypes, legal, physical structures, research and development, office space, marketing, and promotion of the technology to potential partners around the world.
[b]
3. Product[/b]
Three systems are under development; one for electric cars, one for trucks with internal combustion engines and one for freight trains.
System
1. This system is for electric cars of all makes and models by using a design we have created that allows these cars to run without having to be plugged in for charging. It allows them to run indefinitely without charging.
System
2. This system allows internal combustion engines that are presently on the road to reduce fuel consumption by 50%. This hybrid system was created primarily for large trucks worldwide, but can be adapted for cars and smaller trucks.
System
3. This system allows freight trains that are currently in use to be substantially more efficient by providing them with additional power so they can carry additional weight and pull more freight cars.
h2>
[b]4. Competitive Edge[/b]
For development of the product University's like Akron University are very willing to help and provide any support they can.
[b][color=red]It is rumored that Petry Power Systems has been/is using some facilities at Akron University.[/color][/b]
[b]5.7. Milestones[/b]
· Secure initial seed capital
· Develop and test technology on working prototype
· Execute Partnership and or licensing agreements
[b][color=blue]Petry Power Systems - Aftermarket System for Cars and Trucks[/color][/b]
Most companies in the "green" business have forgotten about the large trucks that make up the backbone of our transportation system. These companies have failed to address the issue of what to do with the existing cars and trucks that are on the road today. This PPS system gives the consumer the ability to become "greener" today, and not several years down the road when they replace their vehicles.
Petry Power Systems, Inc. has created an aftermarket system for internal combustion engines (ICE). This system can be added to an existing engine without requiring a new battery system or a major overhaul. The PPS system will assist the ICE, cutting fuel consumption by 50%. This exciting technology is perfect for freight companies looking to lower their fuel costs without needing to replace their current fleet, or the average consumer that wants to make a difference in the fight against global warming.
[b]With the manufacturing of these units, Petry Power Systems will actually be producing CARBON CREDITS. Carbon credit trading has seen more and more increasing volume. Many analyst believe it will be the next "bubble" and hot thing. Petry Power Systems could receive up to $60 million for produced carbon credits. More on Carbon Credit Market:[/b]
[b][color=green]Global carbon credit market set for dramatic growth[/color][/b]
Commodity Online
The rising concerns over global warming and its regulatory efforts seems to have brought significant level of responsiveness as the global market for carbon credit has recorded a compounded annual growth rate (CAGR) of 89% during 2005 to 2009.
The regulatory efforts to mitigate climate change have spawned an emerging carbon market that was valued at $10.9 billion in 2005 and grew at compound annual growth rate (CAGR) of 89% to reach $138.3 billion in 2009.
The global carbon market doubled for two consecutive years from $31.2 billion in 2006 to $63 billion in 2007 and $126.3 billion in 2008 due to the expansion of allowance markets. The European Union (EU) Emission Trading System (ETS) experienced a robust growth during this period.
However, the recession in the global economy contained the impressive growth of the global carbon market. The global carbon market registered a less than 1% increase in value in 2009. The primary reason for such market behavior was the sharp decline in carbon prices, on the back of lower oil and energy prices and a deteriorating economic outlook.
The demand for carbon allowances fell sharply in late 2008 and early 2009 as the recession reduced economic output, resulting in much lower emissions than had been expected. Research analyst firm, GBI Research predicts that the global carbon trading market will experience a dramatic growth after 2012 and reach USD 1.2 trillion by 2020.
The report by the analyst firm, provides an overview of the policy initiatives by the major carbon markets. The report will suggest investment decisions in carbon projects by providing trends and information on global carbon trading policies. The report discusses in detail about key drivers of interest in carbon trading - climate change and the Kyoto Protocol.
The EU’s initiatives to build a broad, globally linked carbon market, the prospective US Federal cap-and-trade program and the strong emergence of other regional market trading mechanisms will drive the carbon market significantly beyond 2012.
The primary market for project-based emission reductions declined considerably in the year 2009 under the weight of the economic downturn. The primary CDM transactions that accounted for the largest share of activity in the primary market, at 84% of volumes and 91% of value transacted, declined in both volume and value terms.
The primary market for project-based emission reductions weakened considerably in the second half of 2008 and 2009. The buyers became more cautious due to persisting uncertainty about the role of and the demand for CDM and JI in the post-2012 climate regime, procedural delays, delivery and issuance challenges, and credit risks amid the worsening economic climate.
Over the past years, the US has instituted a number of regional initiatives with the goals of implementing emissions trading programs. The size of the total allowance market in the US — the combined allowance volumes of the Regional Greenhouse Gas Initiative (RGGI) and the Chicago Climate Exchange – was 805 MtCO2e, valued at $2.5 billion in 2009. The US federal cap-and-trade mechanism has been expected for a long time and the implementation of the scheme will boost the North American and world carbon trading markets.
http://www.commodityonline.com/news/Global-carbon-credit-market-set-for-dramatic-growth-27659-3-1.html
[img]http://i34.photobucket.com/albums/d130/bmwboyee/Chart2010.jpg[/img]
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[img]http://i34.photobucket.com/albums/d130/bmwboyee/chart2008.jpg[/img]
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