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Good God - some positive action here on significant volume!. I just hope this portends well for 2010.
Thanks. Thanks also to the MM and possibly the customer with $7 bucks of stock to sell. Can you even eat at McDonald's for that -- LOL.
After commission, just a pack of gum.
Welcome back as mod for GWOW
The status is one thing. I would look up the connection between Derlan Industries and Genesis in Toronto if I were trying to get more info.
Some really crazy stuff happened in 2001. Cross border transactions would be considered "World Trade" and the center was shut down for obvious reasons. Maybe some important executives disappeared, and Genesis rose from the ashes?
It's a good excuse for lost memories. I will never forget.
All I care about is that is says active,the ohio secretary of state would be the call to make if you are asking about daily updates (IMO)
What date was it updated? I looked a few months ago, and didn't. the "image shack" version was posted before I looked.
Pardon me for the mistake. I just rechecked, and found it. No date. Might have been a temporary lapse. Good to see. Has anybody contacted Clemens?
You can`t find genesis worldwide active in ohio? I just did!!
http://www2.sos.state.oh.us/pls/portal/PORTAL_BS.BS_QRY_BUS_INFORMATION1.SHOW_PARMS
Now type in genesis worldwide in search.
I see a few discrepencies. I don't believe you supplied the info on the ohio SOS, but that is not a direct feed. I could not find them listed as "active" in ohio, and whomever has supplied an "image shack copy." Not the real thing.
Second, Genesis WW2 is a different company than the canadian Genesis WW. The canadian Co was formed at about the time of the BK. Note that the releases list "the domestic subsidiaries." Toronto would not have been "domestic" to the United States.
The real answer lies with the people who were in Toronto in 2001, and most of them have dissapeared, or ain't talking.
The recent filing with the SEC was a Reg D. That meant that someone in the states wanted to sell to another person (probably a "qualified investor"), and needed to file an exception from the SEC rules, ie, an in-state sale, not a "national exchange" transaction.
Great DD & Summary! You ought to apply
to be a Mod for the board so this could be made into a "post-it" for the board...
and be used in the iBox as a "most recent" comprehensive overview! Thanks for sharing!
jas2mel- Thanks for all the info. I truly believe this stock will have its day. The float is definitely owned 5-6 times over, as I personally hold well over 10% of the float. ( have held my shares for over 2 years now). Something or someone will eventually merge into this shell. It is clean, and if you look at the history over the last 2 years, people would not have invested time and money cleaning this shell up, for nothing.
Regards
Dave
This is where I started in 2000: Take the info for what its worth.
The company, originally called Monarch Machine Tool, started moving out of the machine-tool business three years ago with the sale of its huge old lathe plant in Sidney, Ohio. After it acquired roll-coating supplier CFG and coil-equipment builder Herr-Voss to supplement its Stamco division, it announced last summer it would change its name to Genesis Worldwide. But the cost of those acquisitions significantly increased debt. Management had hoped that proceeds from the sale of its machining-center plant in Cortland, N.Y., now doing business with the old Monarch Machine Tool name, would inject better liquidity and help capitalization. Most all of the $7.74-million received in February from the sale of the machine-tool division went to repay term loans.
The new over-the-counter bulletin board symbol for Genesis Worldwide Inc. common stock is GWOW. Going to the regulated quotation service ensures that the transition from the big board is "as seamless as possible," president and CEO Richard E. Clemens says in a statement. The financial-markets move is expected to have little effect on the day-to-day operations of the business.
Not really an IPO, but if they merge into a reputable company, it will have the same effect.
Taken from IHUB Header:
This illustrates the value of owning a piece of this low float issue:
Market cap at Monday (12/3/07) bell close of .04 = only $148,000
When you have a moment take a look at CSBR. It is trading at a 40+ million market cap.. its has about 30 m o/s (9 times the o/s of GWOW) Went from .01 to 1.50 and is holding well...
Any private co merging into this will create at least a 4-6 m market cap, possibly much higher....
3 m market cap = .81 share price
4 m market cap = 1.08 share price
5 m market cap = 1.35 share price
6 m market cap = 1.62 share price
A 6 million market cap these days is considered very small, these are reasonable and conservative expectations....
If they were to merge with a firm that dictates a 20 m market cap this issue will be worth dollars..
Example.. 3.7 o/s shares, expanded to give the public shareholders a reasonable 10% of the merged company.. this would put the shares o/s at around 6 million or so....
A 20 million market cap would put the share price at an astounding $3.25+ ... hard to believe.. but it is simple mathematics... cut it in half if you believe the public would only end up with a low 5% - this still commands a $1.70 share price...historically speaking, it would be somewhere in between based on numbers from recent merger activity and transactions that are readily available to the public via filings...
This information as of Tuesday October 9, 2007
GWOW is the former Monarch Machine Tool formerly listed on the NYSE, symbol MMO.
The o/s is 3.7 m, the float is 500-600k.
GWOW filed Chapter 11 Bankruptcy in 2001. The assets were sold to a company that was named Genesis Worldwide 2 (GW2), GW2 is a separate operating entity that is legally unrelated to the shell being discussed here. This has caused some confusion of late as GW2 has been releasing news and some have believed that this pertains to the subject shell. Not true. Presently, GWOW is a shell.
On Friday, October 5, a huge amount of buying came into the stock and it trended straight up from below .01 to close at .08 - the high of the day, with little selling.
The Bankruptcy has been completed and dismissed, effective September 27, 2007.
Here is link to a copy of the dismissal order:
http://img179.imageshack.us/img179/3100/gwowcourt2hh0.jpg
Months ago, National City Corp (Parent company of National City Bank, Cleveland, OH) filed an SC 13G with the SEC in February, 2007. For many years National City had filed and disclosed their ownership in GWOW. In this latest filing they state they no longer have their position. Legal counsel for National City when contacted would not comment on who received the shares or describe the conditions under which they were transferred. National City did not sell them in the open market, this is for sure, volume of this amount does not reflect during the time period in question.
Conclusion: The shares were sold or transferred to a private party(s) or returned to the court and/or a creditor in an off market transaction.
Link to the filing that shows National City disposed of their shares:
http://www.pinksheets.com/edgar/GetFilingHtml?FilingID=4959567
Interestingly, another subsidiary of National City (NatCity Investment Advisors) is listed as the investment banking advisor while GWOW was in BK. This subsidiary is one that would advise the court on subjects that would pertain to the disposition of a shell among other investment banking/public company matters. Keep in mind that it is National City who transferred their shares to some undisclosed party.
Link to copy of the filing that shows NatCity Investment Advisors, a “special situation investment banking consultant” as advisor to the court:
http://img179.imageshack.us/my.php?image=gwowcourt1ds6.jpg
In addition, there is a revealing development that is found on the Ohio Secretary of State website. For months and months, the corporate status for GWOW was “canceled” or “dead” -- but now, the SOS site reflects that the corporation is now listed as “active”.
Here is a Ohio Secretary of State link copy that shows Genesis Worldwide now reflects as active:
http://img107.imageshack.us/img107/4449/gwowsosbp0.png
Conclusions:
The BK is finished and dismissed per the court filings. The GWOW shell may now be transferred or otherwise sold without further order from the court.
The corporate charter with the State of Ohio is suddenly “active” as someone is in process of updating the filings.
The shell is in the process of being utilized for a reverse merger.
The question that remains: Who is the merger partner and when will the public be informed?
It is possible that one of the private company creditors involved in the BK may be merging into the shell. This would fit with why National City transferred their shares during the BK - an unusual event that interestingly, people close to the situation will not discuss.
Authorized Shares: 12,000,000
Source: Filings and Legal Counsel
Outstanding Shares: 3,785,696
Source: Filings and Legal Counsel
Float: 500-600 k m/l
Additional information of note: If the float is indeed 600K, it is completely owned now TWICE OVER by 5-6 people -- based on what I know and what I have been told. Many others own shares as well, so if they merge, it will be interesting to see the stock price jumping by 10 cents or more at a crack, since there will technically be NO shares available to trade if these few people decide not to sell any before, say, $2.00????
I'm making no claims for this. Just putting it out there to let anyone investigate for themselves.
2000:
GWO is Now GWOW.
Publication: Metalworking Insiders' Report
Date: Thursday, June 1 2000
You are viewing page 1
The New York Stock Exchange, where coil-processing-equipment builder Genesis Worldwide Inc. used to be listed, has a minimum listing standard. It dictates that a corporation maintain both total stockholders' equity and global market capitalization of at
200 Park Avenue
58th Floor
New York, NY 10166
212.338.5100
212.867.7980 Fax
kps@kpsfund.com
www.kpsfund.com
FOR IMMEDIATE RELEASE:
December 12, 2001
Contact: KPS 212-338-5100
Pegasus 203-422-7016
KPS AND PEGASUS COMPLETE PURCHASE OF GENESIS WORLDWIDE INC.
--------------------------------------------------------------------------------
New York, NY (December 12, 2001) -- Genesis Worldwide II, Inc. (“Genesis II”), a company created by Pegasus Partners II. L.P. and KPS Special Situations Fund, L.P., announced today it has completed the acquisition of Genesis Worldwide. Genesis II purchased the domestic businesses and assets of Genesis Worldwide, Inc. and its subsidiaries pursuant to a section 363 sale of assets in the Chapter 11 bankruptcy proceeding of Genesis Worldwide.
Genesis Worldwide, Inc. (www.gen-world.com) engineers and manufactures high-quality metal coil processing and roll coating and electrostatic oiling equipment in the United States through its Herr-Voss, Stamco and GenCoat business units. The Company also provides mill roll reconditioning, texturing and grinding services in addition to its rebuild, repair and spare parts business.
Genesis Worldwide II purchased the assets and operations of Genesis Worldwide, Inc. for approximately $20.5 million and the assumption of certain liabilities. Under the terms of the sale agreement, Pegasus and KPS (through an affiliate, Blue Coil LLC) paid cash, issued a secured subordinated note and equity interests and assumed certain liabilities of Genesis Worldwide Inc.
Genesis II also announced that it had retained Mr. Walter Stasik to serve as the CEO of the Company. Mr. Stasik has over 30 years of capital equipment experience, most recently with Voest-Alpine Industries in Pittsburgh, where he was the Vice President for Special Projects. Mr. Stasik previously served as the Chief Operating Officer of the Danieli Corporation from 1993 to 2000.
Mr. Stasik said, “We are extremely excited to complete the Pegasus/KPS investment transaction. Genesis has a strong core business, superior technology, a very large installed machine base and a tremendously loyal customer base in the metals processing industry. The transaction eliminates substantially all of the Company’s debt and other liabilities, and provides us with the financial resources necessary to advance our position as the premier provider of equipment, service, parts and rebuilds to our large customer base.”
Pegasus Partners II, L.P. is managed by Pegasus Capital Advisors, L.P., a Greenwich, Connecticut based private equity investment firm with approximately $800 million under management. Pegasus makes control and structured investments as both debt and equity securities in companies that are at points of financial or operational stress or significant change.
KPS Special Situations Fund, L.P. (www.kpsfund.com) is a $210 million private equity fund focused on constructive investing in turnarounds, restructurings, bankruptcies and other special situations. KPS seeks to realize significant capital appreciation by making controlling equity investments in companies engaged in manufacturing, transportation and service industries challenged by the need to effect immediate change. This transaction will be the third bankruptcy-related acquisition completed by KPS in two years.
Very important to the success of the transaction were new collective bargaining agreements with locals of the United Steelworkers of America (USWA) and the International Association of Machinists and Aerospace Workers (IAM). These new collective bargaining agreements constitute an essential component of the Company’s turnaround plan.
FOR IMMEDIATE RELEASE Business Inquiries:
KPS 212.338.5100 Media Relations:
Mark Semer/Joe Kuo 212.521.4800
KPS CAPITAL PARTNERS SELLS GENESIS WORLDWIDE II, INC. TO
GREY MOUNTAIN PARTNERS, LLC
New York, NY (September 10, 2007) -- KPS Capital Partners, LP (“KPS”) announced today that it has sold its portfolio company, Genesis Worldwide II, Inc. (“Genesis II”), which it jointly owned with Pegasus Partners II, L.P., to HVS Acquisition, Inc., an affiliate of Grey Mountain Partners, LLC. Genesis II is one of the world’s leading designers and manufacturers of high-quality metal coil processing equipment under the Herr-Voss Stamco® brand name, provides mill roll services, and operates a repair and spare parts business. Financial terms of the transaction were not disclosed.
The transaction represents the eighth sale of a portfolio company by KPS over the past 15 months. It is also the final sale of a portfolio company by KPS Special Situations Fund, L.P. and KPS Supplemental Fund, L.P., KPS’s first institutional private equity funds, which closed in 1998 with capital commitments of $210 million.
Michael Psaros, a Managing Partner of KPS and Chairman of Genesis’s Board of Directors since KPS and Pegasus acquired the company in 2001, stated, “Under our ownership, Genesis II became the leading company in its industry, developed and introduced the most advanced products in the world based on self-developed proprietary new technologies, and achieved recognition as the most recognized and admired brand name in North America. In addition, the company transitioned from a North American business into a global enterprise, with a substantial portion of its revenues now derived from exports to Asia, and Central and South America. The success of Genesis II is another validation of our investment strategy, and the culmination of a very successful investment campaign for our first fund.
“We congratulate Walter Stasik, Chief Executive Officer of Genesis II, and the company’s management team on their many accomplishments. We thank General Electric Capital Corporation for its strong support of the company and for financing the company’s important export business. We also thank the United Steelworkers and the International Association of Machinists and Aerospace Workers (“IAM) for their very critical role in making the company a success.”
Mr. Stasik added, “At the time of the original purchase transaction, KPS and Pegasus were the only investors that recognized the long-term value of this company. They were prepared to execute a very difficult two year restructuring and turnaround plan, and their patience and tenacity has been rewarded with this sale, and the prior sale of GFG. We thank KPS and Pegasus for providing us with the resources to achieve our objectives. We are now perfectly positioned to continue our growth, and expect long-term success under Grey Mountain’s ownership.“
IAM International President Tom Buffenbarger said, “Our members truly appreciate the decision in 2001 by KPS and its equity partner to keep high-skilled manufacturing in Pennsylvania. Genesis Worldwide II shows that a troubled company can become competitive again by working with its employees. This has been a success for the investors, management, the employees, and their community. In additional to creating job stability by growing the company together, our members and other employees also have a more secure retirement since Genesis Worldwide II contributes to the IAM National Pension Fund. We look forward to working with the new owners to keep this company going in the right direction.”
In November 2005, Genesis II sold its GFG subsidiary to Mitsubishi–Hitachi Metals Machinery, Inc. (“MH”), a joint venture of Mitsubishi Heavy Industries, Ltd. and Hitachi, Ltd. GFG is the world’s leading designer and manufacturer of roll coating equipment and lines, and electrostatic oilers under the Peabody name. MH was introduced to Genesis II and its GFG subsidiary by Mitsubishi International Corp., an investor in and key strategic partner of KPS.
Lincoln International acted as the financial advisor to Genesis II, and K&L Gates acted as the legal advisor with respect to this transaction.
About Genesis Worldwide II, Inc.
Headquartered in Callery, Pennsylvania, Genesis Worldwide II, Inc. (www.gen-world.com) designs, engineers and manufactures high-quality metal coil processing equipment through its Herr-Voss Stamco business unit. The Company also provides mill roll reconditioning, texturing and grinding services in addition to its rebuild, repair and spare parts business. Genesis II operates seven manufacturing facilities located in Pennsylvania, Ohio, Indiana and California.
About KPS Capital Partners, LP
KPS Capital Partners, LP is the manager of the KPS Special Situations Funds, a family of private equity funds with over $1.8 billion of committed capital focused on constructive investing in restructurings, turnarounds and other special situations. KPS has created new companies to purchase operating assets out of bankruptcy; established stand-alone entities to operate divested assets; and recapitalized highly leveraged public and private companies. The KPS investment strategy targets companies with strong franchises that are experiencing operating and financial problems. KPS invests its capital concurrently with a turnaround plan predicated on cost reduction, capital investment and capital availability. Typically, the KPS turnaround plan is accompanied by a financial restructuring of the company's liabilities. KPS’s investment strategy and portfolio companies are described in detail at the firm's website: www.kpsfund.com.
http://www.greymountain.com/contact.php
http://www.greymountain.com/affiliate.php
http://www.gen-world.com/
The true answer lies either in KPS or Grey mountain as to how the stock was delta with. Personally I think KPS has the final answer if you can find the contact that handled that portfolio. I spoke with KPS and the person that handled that account was not it. Grey mountain was not reachable either accept the CO branch and he wasnt much help. I spoke to the lady at Herr-Voss and to the ops guy there and to their knowledge the company was not trading publically. The missing piece lies in the buy and sell of the company when Genesis 2 was created. I dont think they are the same IMO but not 100% sure. GLTA
Give me a few hours and i will post everything from delisting to consolidation to selling to buying to name and brand change.Im still at work overseas.
IYO, they are "NO" what?
What PROOF about GWOW are we eagerly awaiting for YOU to share with US so we'll have a clue about GWOW?
Is it about the PAST, PRESENT, or FUTURE of GWOW?
Does it explain yesterday's jump back to .05?
This IS the GWOW board... gets a post every few weeks or so... just wondering if this post was submitted in error to answer a question current elsewhere?
They are no IMO and i can support the info to prove it. Took me a week to weed thru the facts.
Just a few shares bought changed my account balance green.
[Suppressed Sound Link]
I do wish someone at one of the Genesis companies would put out a PR stating for once and for all, that either GWOW is interconnected with TSX:GWI, or not.
I`m posting this because they are interconected to gwow.pk
marketwire
Genesis Worldwide's Products Division, KML Building Solutions, Wins Its First Eight Storey Building Project In Ontario for $3.0 Million
Genesis Solution Can Now Be Applied to Buildings up to Eight Storeys
MISSISSAUGA, ONTARIO--(Marketwire - 10/02/09) - Genesis Worldwide Inc. ("Genesis" or the "Company"), (TSX:GWI - News), a leading provider of "green" structural building products and technology in the light steel structural products industry, today announced that its Genesis Products Division and subsidiary, KML Building Solutions ("KML"), now has the capability to produce cold-formed light steel frame buildings up to eight storeys in height for certain types of buildings. As a result of this new capability, KML has won its first such project in Ontario, Canada of approximately 126,428 square feet.
Using the Genesis turnkey solution ("Genesis Solution"), including leading-edge software, industrial equipment, engineering services and processes, "green" light steel panelized structures for the residential, commercial and institutional building sectors can now be produced with two extra storeys.
Cold-formed light steel specialist companies, including Genesis, have long faced hurdles in the construction marketplace because of building code restrictions and the historical dependence of builders on traditional masonry and concrete construction. As a result, cold-formed light steel buildings have traditionally only been constructed up to six storeys. In fact, in many parts of the world, cold-formed light steel has not extended beyond a single storey and, in some countries, has not been used at all.
For Genesis, ever-increasing engineering knowledge and expertise regarding cold-formed light steel and their proprietary structural system has created the opportunity to expand their offerings in the highly-competitive construction marketplace.
The market for four to eight-storey buildings is a segment where Genesis believes it has a definite competitive advantage. In most of North America, wood is prohibited from being used in any building that is four storeys or more. Importantly, Genesis has already established a strong presence in the school and affordable housing market.
Of technical significance, the Genesis structural system capability affords an increased resistance to lateral forces relative to other systems. The Genesis floor is designed to transfer lateral loads to the shear walls in zones where other systems cannot. The Genesis system can be designed to withstand higher seismic zones and wind zones. The significant strides Genesis has made in terms of integrating its light steel structural solution with lateral concrete systems is now evident at a number of ongoing Genesis and KML projects in the southern Ontario market.
The expertise Genesis has developed in the light steel framing industry, along with its new eight-storey building capability, will help increase its penetration not only in North America, but also energize its emerging presence in the key Asia, Middle Eastern and Eastern European markets where it is presently competing for various building projects.
About KML Building Solutions
KML utilizes Genesis' framing technology to provide builders with higher quality, faster and more cost effective framing solutions than the traditional framing methods of the past. Innovative light steel building materials and a fully integrated "turn-key approach" to framing construction sets KML apart and provides builders with a more simplified building process with considerably less risk. KML has become a leading light steel framing innovator and provider focused on the Ontario, Canada market, and has constructed over 400 projects totaling approximately ten million square feet. KML's manufacturing facility is located in Vaughan, Ontario, Canada and is Genesis' first Canadian licensee. For additional information about KML, visit www.kmlbuildingsolutions.com.
About Genesis Worldwide Inc.
Genesis is a leading provider of green light steel building products, systems and technology targeted at the global commercial, residential and institutional building sectors. Genesis delivers customized turnkey structural solutions including innovative light steel products, and provides software packages, industrial equipment, training programs, professional services and support to licensees globally. Headquartered in the Greater Toronto Area in Ontario, Canada, Genesis has established a network of partners with engineering, manufacturing and distribution operations in Canada, the United States, the Middle East, Eastern Europe and Russia. For additional information about the Company, visit www.genesisworldwide.com.
Caution Regarding Forward-Looking Information
Certain statements in this press release which are not historical facts constitute forward-looking statements or forward-looking information within the meaning of applicable securities laws ("forward-looking statements") and are made pursuant to the "safe harbour" provisions of such laws. Statements related to the Company's projected revenues, earnings, growth rates, performance, business prospects and opportunities are forward-looking statements, as are any statements relating to future events, conditions or circumstances. The use of terms such as "may", "will", "should", "plan", "believes", "predict", "potential", "anticipate", "expect", "project", "target", "estimate", "continue", and similar terms are intended to assist in identification of these forward-looking statements. These statements are based on certain factors and assumptions including expected growth, results of operations, performance and business prospects, and opportunities. These assumptions, although considered reasonable by the Company at the time of preparation, may prove to be incorrect.
Readers are cautioned not to place undue reliance upon any such forward-looking statements. Such forward-looking statements are not promises or guarantees of future performance and involve both known and unknown risks and uncertainties that may cause the actual results, performance or achievements of the Company to differ materially from the results, performance, achievements or developments expressed or implied by such forward-looking statements.
Many factors could cause the actual results of the Company to differ materially from the results, performance, achievements or developments expressed or implied by such forward-looking statements, including, without limitation, those factors discussed under the heading "Risk Factors" in the Company's most recent Annual Information Form ("AIF"), a copy of which is available on SEDAR at www.sedar.com. Forward-looking statements are based on management's current plans, estimates, projections, beliefs and opinions, and the Company does not undertake any obligation to update forward-looking statements, except required by law, should assumptions related to these plans, estimates, projections, beliefs and opinions change.
Contact:
Contacts:
Genesis Worldwide Inc.
Catherine Smyth
Manager, Investor Relations
(905) 285-9909, ext. 302
680 shares X .013 = $8.84 (LOL) was it good for you?
Please just wait for new info because we all want to see good things happen.
Just another ghost ship on the vast sea of mysterious shipping traffic. Haven't seen anything credible in 8 years. The info just isn't there. Not in the press, not in the courts. Abandoned and adrift like MRDG.
Sense we have 38 boardmarks it could be just 2 that are moving on and who is buying now with limited info? Maybe just 1 or 2
Slow bleeding not new shares (IMO)
I can`t add any shares now because of other plays that have not hit my price target.Some one is adding cheep shares.
I can almost guarantee if the ask is .04 tomorrow, it's so thin it will crack with nothing, and then the ask goes back to at least .07-.08 -- and that ask is paper thin as well. I've got a few sells at $1.00 sitting and waiting -- LOL.
So anyone want to tap .04 for even 100 shares will accomplish two things. First, we have a 100% gain in a day! Secondly, it irritates the dopw selling at .04 by making him pay commission on 100 shares. I say we have about 5 people buy 100 shares in rotation each day to drive him nutty. $4.00 sale and $9 commission.
WZ... this is such a question mark stock...
nearly impossible to even start to look for info...
but there are a few facts...
1) very thin float so it moves by leaps up and down on hardly any shares traded depending on whether a BUY or SELL...
2) someone about 18 months ago went to a lot of trouble to clean up the financials and the court status of the shell with some expenses for the trouble so there had to be some eventual plan in mind.
SO IMO... I think the recent market activity has been calculated to shake out those of us who bought when the shell was being cleaned up during the last run up above .25/share. The downward pressure has been steady and, if memory serves me correctly, a while back it was suggested that there is a time frame to utilize the shell for a R/M of some sort... or more money will have to be infused into filing expenses.
So I think that BEFORE that deadline something will happen... no matter who is still holding. I may be wrong and this could still be a "years away" play but I think that after a "best efforts" attempt to get rid of us, the plan must go forth!
JMO... and it is an empty shell play... but a clean trading shell sitting at .02 ready to jump to .05 or beyond if someone puts in a BUY for 10K shares!
Would be fun to see how quickly an "all or none" limit order got filled as the offered price was increased a penny at a time starting at .02! LOL
To whomever is selling,you are killing my account balance.Any news you can share?
don't try too hard.. your head might explode....LOL
Ive decided Im too confused to have an opinion
Has anyone called them and asked?
The easiest way for anyone here to determine the answer, is attempt to get a shareholder list from the transfer agent, and send out proxies to elect a board of directors. Shells don't usually perform well without one.
If most of the owners appear to be Canadian. Bingo.
On the contrary; the Coil to Panel technology appears to have come out of the Genesis/Monarch BK. The question is, was it paid for. Before BK, coil processes were a major line of the company.
I was doing the forensic research to attempt to determine that, when I realized that the company has shuffled enough paper to bury most of the info, and appears to deny any connection. The denial would represent a fraud, and I can't afford to make the cross border legal effort to resolve it, so I liquidated. I have interests in other shells which are cheaper as shells, and also have possible Intellectual Property litigations.
The RegD form shown in the CIK for GWOW was processed by Thomsons Reuter. I think this is a mistake,the two companies HAVE NO
relation to each other.
GWOW is an empty shell and could remain so for many years.
Debtor in possession is used by a "going concern" to exit bankruptcy, and apparently, GWOW closed it's Chapter 11 case with the DIP financing at about the same time that "GenesisTP" came up with the coil steel machining. I could not find any trace of the way the $7 million was handled, but I haven't tried the court records yet. (its about 8 cents a page, from PACER)
If they are the same stock, they should be up to their necks in lawsuits. Possesion of the coil steel technology and denial of the connection would indicate an attempt to defraud the GWOW investors of their rightful property.
I tried to link the $7 million DIP financing from the Chapt 11 to the canadian public offering, but couldn't make any connections on it. Finding out where the $7 million went in the DIP financing for GWOW.PK might lead to some clues, but all it gave me was an unfamilar financing nameplate.
If GWOW.PK and GWI.TO are the same than the stock price should be
.27 CAD = 0.2454 USD
The more i look into this the more i'am convinced the form RegD filed in GWOW is a mistake or a purposely contrived mistake. Initially it was nice to speculate that the Canadian company had bought the shell,but i now don't believe this.
Could have been a neat way of running up GWOW in a pump and dump scheme that failed to materialize.
Canadians up to their old tricks i would guess.
Under Genesis Worldwide
GWI.L london
GWI.TO toronto
GWWCF.PK greysheets
GWOW.PK pinksheets ????
FACT
A 2,000 sq. ft. steel framed home will use recycled steel of 8 scrap cars, compared to 50 trees (or 1 acre of forest) for the same wood frame home.
Looking back at the Chart of GWOW there definently was a spike to 10 cents between the end of January and the beginning of February.
There are two central index numbers for Genesis worldwide according to Edgar. They are 0001465102 and 0000067532. As far as i can tell the first one is the Canadian one GWI.TSX and the second is the one we know as GWOW.
The interesting thing is that the Regdex form that penny highlighted appears in both CIK numbers. Either the form has been mistakenly entered by the SEC for one company or the two companies are irrevocably connected.
Our GWOW doc:- http://sec.gov/Archives/edgar/vprr/09/9999999997-09-009202
The Canadian Genesis doc:- http://www.sec.gov/Archives/edgar/data/1465102/000146510209000003/xslFormDX01/primary_doc.xml
Its interesting to see that our Genesis RegD form was signed by Greg Kent on March 6th 2009. The Canadian Genesis RegD form was submitted by Greg Kent on August 7th 2009.
Also the later Canadian RegD form has a sold amount of $2,893,493 while the US Genesis has a sold amount of $1,228,412.
The newest filing for GWOW occured on 9th March 2009.
It looks like the GWOW shell could have been bought by the Canadian Genesis company probably sometime at the beginning of this year.
Would be interesting to see the share price fluctuations at around this time.
It looks like ,unless a mistake has been made, that the GWOW shell is now part of GWI.TSX.
We could be now part of http://www.genesisworldwide.com/.
Wzebra asked the question why would a Canadian company file in the US, maybe they want to expand their business into the US to take advantage of all the Green incentives that Obama is going to make.
Of course this is all speculation,i think someone should contact the SEC to see if the REGD form in GWOW was entered mistakenly.
LMAO... so you're telling me I shoulda taken the .02!
And tomorrow you'll take it sub-penny!
So what! Go ahead, make my day! LMAO... my shares will cost a lot more than that! I can wait!
Dollar amount of sells = $2,234.14
53,000 @ .02 = $1,060
39,138 @.03 = $1,174.14
Dollar amount of buys = $1,100
55,000 @.02
(IMO) someone pulled out,no new shares sold.
LOL... might as well HOLD...
it does not pay to try to sell!
Someone with GREAT patience is trying to acquire all the shares available! JMO...
Hot flash... go ahead and R/M something in this shell! My shares are not for sale DOWN HERE @ .02!
Actually, I have only seen it posted here, and believed the source to be reliable. Maybe I am a bit gullible. The comment made me sell it all. If they actually are oblivious to the connection, or deny it, then why hold the stock? Either way, it constitutes a deceptive practice if it is true that the connection exists, but they are canadian now: You can't sue them here.
I am a Ben Graham afficionado. Buying stock is either like buying a cash register, or going into a voting booth. On this one, somebody buried the cash register. All you have is a voting booth.
So you are saying you called Investor Relations
Cathy Smyth And she "poo-pooed" any link to GWOW.PK
Wall Street seems to follow the same path these days. If you can't pay a lawyer to track your investments, anything goes. If you can, he will be a busy man. The brokerages don't seem to be able to afford good research these days, and the researchers they have; appear to have their noses planted in the tail of the animal in front of them in the herd.
You guys don't get the whole picture. The Toronto Corp appears to be an "abandoned" spinoff from the Chapter 11, IMO. They issued Canadian shares, and took the Genesis name. Prior to 2001, they didn't exist, but when the US corp and the US subsidiaries went BK, they were lost in the paper shuffle. Now they apparently deny the connection, or at minimum, do not acknowledge it under direct questioning. They appear to have just "magically" acquired the coil steel technology at the same time Genesis US went BK. It was probably just a small subsidiary, and hardly noticible. If you own any substantial shares, you might want to find an investigator. Otherwise, they will likely continue to deny a connection. Besides, they don't appear to do anything but lose more money and issue more shares.
Wall Street seems to follow the same path these days. If you can't pay a lawyer to track your investments, anything goes. If you can, he will be a busy man.
The only thing I can think of is, the selling of shares in the US?
Why would a canada company (Genesis Worldwide Inc.'s common shares are traded on the Toronto Stock Exchange (TSX:GWI))
File anything with the SEC ???
I did a look-up at xignite on Genesis Worldwide Inc. The result shows a different CIK than the CIK used in the filing of the Canadian firm.
Canadian firm = CIK = 0001465102
US Corp. = CIK = 0000067532
xignite links me to a filing by the US Corp:
http://google.brand.edgar-online.com/EFX_dll/EDGARpro.dll?FetchFilingOrig1?SessionID=hUYMjDYNNDZrOcM&ID=4959567
Why do they make it so hard?
The inc.GWOW listed in OH Agent Contact Information the address is Richard E. Clemens 2600 Kettering Twr
Dayton Ohio 454230000
This is what S&P recognizes as a US company named Genesis Worldwide Inc.:
Question is, does that CUSIP match the CIK of the filing?
Are we sure this is the GWOW we own, or is this related to the machining company in Canada?
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AS far as anyone knows, GWOW is still a clean shell just waiting for someone to merge a company into it to give it instant and huge value -- based on the TINY number of shares available for trade.
The following write up was from someone who researched the shell. He obviously put his spin on what could happen if an extremely low-float shell like GWOW were to be merged into. The float is gone and in solid hands -- this we know. That's all we know. So we wait for that day when perhaps his evaluation actually happens!
Updated figures are based on the original fellow's research, which we have no reason to believe is not still accurate.
This illustrates the value of owning a piece of this low float issue:
Market cap at even .15 = only $555,000
Any private co merging into this will create at least a 4-6 m market cap, possibly much higher....
3 m market cap = .81 share price
4 m market cap = 1.08 share price
5 m market cap = 1.35 share price
6 m market cap = 1.62 share price
A 6 million market cap these days is considered very small, these are reasonable and conservative expectations....
If they were to merge with a firm that dictates a 20 m market cap this issue will be worth dollars..
Example.. 3.7 o/s shares, expanded to give the public shareholders a reasonable 10% of the merged company.. this would put the shares o/s at around 6 million or so....
A 20 million market cap would put the share price at an astounding $3.25+ ... hard to believe.. but it is simple mathematics... cut it in half if you believe the public would only end up with a low 5% - this still commands a $1.70 share price...historically speaking, it would be somewhere in between based on numbers from recent merger activity and transactions that are readily available to the public via filings...
This information as of Tuesday October 9, 2007
GWOW Overview and Comment
GWOW is the former Monarch Machine Tool formerly listed on the NYSE, symbol MMO.
The o/s is 3.7 m, the float is 500-600k.
GWOW filed Chapter 11 Bankruptcy in 2001. The assets were sold to a company that was named Genesis Worldwide 2 (GW2), GW2 is a separate operating entity that is legally unrelated to the shell being discussed here. This has caused some confusion of late as GW2 has been releasing news and some have believed that this pertains to the subject shell. Not true. Presently, GWOW is a shell.
Months ago on several occasions I contacted the creditor’s committee attorney appointed by the court and he told me there was interest from a few parties about the GWOW shell. He also related that they were nearing the completion of the BK, and that it would be possible to transfer/sell the shell to an interested private firm.
On October 5, 2007, a huge amount of buying came into the stock and it trended straight up from below .01 to close at .08 - the high of the day, with little selling.
The Bankruptcy has been completed and dismissed, effective September 27, 2007.
Here is link to a copy of the dismissal order:
http://img179.imageshack.us/img179/3100/gwowcourt2hh0.jpg
Original research in 2007 of this issue revealed that National City Corp (Parent company of National City Bank, Cleveland, OH) filed an SC 13G with the SEC in February, 2007. For many years National City had filed and disclosed their ownership in GWOW. In this filing, they stated they no longer have their position. Legal counsel for National City when contacted in 2007 would not comment on who received the shares or describe the conditions under which they were transferred. National City did not sell them in the open market, this is for sure. Volume of this amount does not reflect during the time period in question. When the attorney was asked for the creditors committee about the status of the National City shares, he would not comment on the whereabouts of the shares.
Conclusion: The shares were sold or transferred to a private party(s) or returned to the court and/or a creditor in an off market transaction.
Link to the filing that shows National City disposed of their shares:
http://www.pinksheets.com/edgar/GetFilingHtml?FilingID=4959567
Interestingly, another subsidiary of National City (NatCity Investment Advisors) is listed as the investment banking advisor while GWOW was in BK. This subsidiary is one that would advise the court on subjects that would pertain to the disposition of a shell among other investment banking/public company matters. Keep in mind that it is National City who transferred their shares to some undisclosed party.
Link to copy of the filing that shows NatCity Investment Advisors, a “special situation investment banking consultant” as advisor to the court:
http://img179.imageshack.us/my.php?image=gwowcourt1ds6.jpg
In addition, there was a revealing development that was found on the Ohio Secretary of State website. For months and months, the corporate status for GWOW was “cancelled” or “dead”. In 2007, the SOS site reflected that the corporation was now listed as “active”.
Here is a Ohio Secretary of State link copy that shows Genesis Worldwide now reflects as active:
http://img107.imageshack.us/img107/4449/gwowsosbp0.png
Conclusions:
The BK is finished and dismissed per the court filings. Tthe GWOW shell may now be transferred or otherwise sold without further order from the court.
The corporate charter with the State of Ohio is suddenly “active” as someone is in process of updating the filings.
The shell can now be utilized for a reverse merger.
The question that remains: Who will be the merger partner and when will the public be informed?
It is possible that one of the private company creditors involved in the BK may be merging into the shell, I had discussed this possibility with the attorney in my earlier calls and he did not deny that scenario as being an option. This would fit with why National City transferred their shares during the BK - an unusual event that interestingly, people close to the situation will not discuss.
Authorized Shares: 12,000,000
Source: Filings and Legal Counsel
Outstanding Shares: 3,785,696
Source: Filings and Legal Counsel
Float: 500-600 k m/l
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