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Hi Hokie. So you think its better to sell GRMS now before losing all my money. You have been around for long and you know more than me. Reverse mergers/bankcruptcies are always risky. I like QSGI though.
GRMS 8k out
CDSS Wind Down Inc., Announces Name Change to “Green Energy Management Services Holdings, Inc.” and New Trading Symbol “GRMS”
TEANECK, N.J.--(BUSINESS WIRE)--(OTCBB: GRMS - News) -- Green Energy Management Services Holdings, Inc. (“GEM” or “Company”), a provider of proprietary environmentally friendly, energy saving technologies and services for municipalities, building owners and large-scale power consumers, announced today that the Company was notified by FINRA that the following actions will take effect at the open of business on September 22, 2010: the Company’s name will change from “CDSS Wind Down Inc.” to “Green Energy Management Services Holdings, Inc.”, the Company’s trading symbol will change to “GRMS” to reflect the change in its name and FINRA would process the Company’s 1-for-3 reverse stock split, as previously announced.
“We are very excited to have instituted these changes,” said Michael Samuel, Chairman of the Board and Chief Executive Officer of GEM. “We are seeking to capitalize on the significant energy savings opportunities before us as we target to reduce customers’ cost of energy and energy management in this significant and largely untapped market sector.”
About Green Energy Management Services Holdings, Inc.
Based in the eastern United States, GEM is a full service, national energy management company. GEM provides its clients all forms of energy efficiency solutions mainly based in three functional areas: energy efficient lighting upgrades, renewable energy generation and efficient water utilization. GEM is currently primarily involved in the distribution of energy efficient light emitting diode (“LED”) units (the “Units”) to end users who utilize substantial quantities of electricity. GEM structures its contracts with no upfront or maintenance costs to its customers and shares in the achieved energy and maintenance savings.
GEM maintains business operations on a nationwide basis, distributing products and services to municipal and commercial customers. Industry participants focus on assisting clients to effectively maximize their energy efficiency potential and couple that with maximizing their renewable energy potential.
GEM provides energy-saving technologies under long-term, fixed-price contracts. GEM provides and installs, on a turnkey basis, technology which should reduce, by between 50-70%, their monthly electric and other energy costs. GEM captures a significant portion of this benefit over the life of the contract, in exchange for providing the equipment, management and technical expertise.
Addressing the energy efficiency arena, GEM concentrates its marketing efforts within geographic regions exhibiting higher than average per kilowatt hour utility rates and having energy customers who consume higher than average quantities of energy. GEM then develops an energy efficiency/energy management program which, potentially, provides end-users alternatives to decrease their energy consumption. Additionally, in many instances, GEM assumes the management and maintenance of its clients’ lighting needs which affords its clients greater labor efficiencies.
Within the renewable energy generation space, GEM’s operating team provides a comprehensive analysis of clients’ geographic location-related energy demographics to develop an energy plan which targets generating investment returns and best renewable resource solution for its clients. Currently, GEM has determined that solar voltaics are the most desirable of the renewable energy solutions and focuses its attention primarily in this area. As technologies change and become affordable, GEM is poised to begin wide-scale implementation of other forms of renewable technologies as well.
Additional information on GEM may be found at www.gempowered.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
This press release contains certain “forward-looking statements” relating to the business of the Company, which can be identified by the use of forward-looking terminology such as “may,” “will,” “expect,” “anticipate,” “intend,” “estimate,” “believe,” “project,” “continue,” “plan,” “forecast,” or other similar words, or the negative thereof, unless the context requires otherwise, and which are intended to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The results anticipated by any or all of these forward-looking statements may not occur. In addition, these statements reflect management’s current views with respect to future events and are subject to numerous risks, uncertainties and other factors that could cause actual results to differ materially from those set forth in or implied by these forward-looking statements. Factors that could affect those results include, but are not limited to, those described in the Company’s Registration Statement on Form S-1, as well as the Company’s reports on Forms 8-K, 10-Q and 10-K and proxy statements and information statements, which have been or will be filed by the Company with the Securities and Exchange Commission (the “SEC”) and the “Risk Factors” sections of the most recent SEC filings by the Company. Many of the factors that will determine the outcome of the subject matter of this press release are beyond the Company’s ability to control or predict. The Company undertakes no obligation and expressly disclaim any obligation, to revise or publicly update any forward-looking statements, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.
Contact:
Investor Relations:
Green Energy Management Services Holdings, Inc.
Robert Weinstein, 201-530-1200
Chief Financial Officer
Robert@gempowered.com
440 million shares outstanding and a PPS of $.375 = $165 million market cap. Crazy. Will probably trade back into the pennies again in the near future and I bet everyone now has 1/3 the shares. Insiders don't though. Nice going Solomon and crew...
I have TD, also.
Not yet and will watch it now.
Dave
i have td and its still showing cwdw
i looked at pink sheets and it seems like they are still figurin stuff out
http://www.otcmarkets.com/stock/GRMS/quote
Did they change over the shares in your account, yet?
Looks to be done now and we can move on the better prices.
The pps at .375 now is great for sure and we will see how it holds.
I wish I could sell at .38. My account hasn't switched the symbols yet.
I think before the end of close today, we will see some trading. JMO
I know. Even I wanted to buy more but they are not trading yet. May be after 22 nd midnight. That means tomorrow they might be officially trading. Because they have to update the symbol in the computer systems of traders, brokers, MM's etc.
Still no trades and haven't been switched in my account, yet.
News. Symbol changed to GRMS.OB
http://finance.yahoo.com/news/CDSS-Wind-Down-Inc-Announces-bw-3587448528.html?x=0&.v=2
Good find. Hope GEM will get a small share of that 16 billion federal funds they are talking in this article of fitting energy efficient lighting systems in our country.
Ali. News here:http://ih.advfn.com/p.php?pid=nmona&article=44446337&symbol=NB%5ECWDW
They say GEM should be trading effective the acceptance of this filing.
Looks to me like there is plenty of profits to be had in this sector, if they get it off the ground.
http://www.p-2.com/helpful-information/arra-stimulus/
It should be wrapped up by the end of the quarter...
It would be nice. Got a question does anyone know how long it normaly takes for (a) the new stock symbol and the deal to be approved by the SEC?? (b) i assume once it is approved we will then see the three for one split take place?
Just waiting for news. Maybe we will here some later based on the today's activity.
Man it is quiet in here. Anyone have any thought?
Nothing since the 2nd and just holding for now.
It is very quiet here. Any new news or thoughts on CWDW or GEM?
Looks like Solomon has been the largest buyer this year also as he cleaned up the shares on the Market.
That might account for the increasing price the last couple of months and what he feels is the value of the stock with the new company.
This is all the partners shares and I still do not see the FINRA yet.
NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Steven B. Solomon
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
(a) o
(b) x
3 SEC USE ONLY
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH: 5 SOLE VOTING POWER
58,547,562 (1)
6 SHARED VOTING POWER
0
7 SOLE DISPOSITIVE POWER
58,547,562 (1)
8 SHARED DISPOSITIVE POWER
0
NAMES OF REPORTING PERSONS
Tzameret Holdings L.L.C.
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) o
(b) T
3
SEC USE ONLY
4
CITIZENSHIP OR PLACE OF ORGANIZATION
Florida
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH
5
SOLE VOTING POWER
22,259,803
6
SHARED VOTING POWER
-0-
7
SOLE DISPOSITIVE POWER
22,259,803
8
SHARED DISPOSITIVE POWER
-0-
AMES OF REPORTING PERSONS
John Morra III
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) o
(b) þ
3
SEC USE ONLY
4
CITIZENSHIP OR PLACE OF ORGANIZATION
United States
NUMBER OF
5
SOLE VOTING POWER
41,575,242
SHARES
BENEFICIALLY
OWNED BY
6
SHARED VOTING POWER
-0-
EACH
REPORTING
PERSON WITH
7
SOLE DISPOSITIVE POWER
41,575,242
8
SHARED DISPOSITIVE POWER
-0-
9
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
41,575,242
10
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
o
11
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
9.46%
NAMES OF REPORTING PERSONS
Watz Enterprises, L.L.C.
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) o
(b) þ
3
SEC USE ONLY
4
CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
NUMBER OF
5
SOLE VOTING POWER
40,437,071
SHARES
BENEFICIALLY
OWNED BY
6
SHARED VOTING POWER
-0-
EACH
REPORTING
PERSON WITH
7
SOLE DISPOSITIVE POWER
40,437,071
8
SHARED DISPOSITIVE POWER
-0-
NAMES OF REPORTING PERSONS
GEM Lighting, L.L.C.
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) o
(b) þ
3
SEC USE ONLY
4
CITIZENSHIP OR PLACE OF ORGANIZATION
Florida
NUMBER OF
5
SOLE VOTING POWER
65,623,216
SHARES
BENEFICIALLY
OWNED BY
6
SHARED VOTING POWER
-0-
EACH
REPORTING
PERSON WITH
7
SOLE DISPOSITIVE POWER
65,623,216
8
SHARED DISPOSITIVE POWER
-0-
New filings: 8/26 and 8/30
Mods... Feel free to update the iBox with the SEC filings.
As per last night's filing, reverse stock split and merger will be completed during the week of Aug 30. I bet we will be start trading with a new stock symbol on next Wed Sep 1.
http://ih.advfn.com/p.php?pid=nmona&article=44154822&symbol=NB%5ECWDW
I checked the www.gempowered.com website. Looks like it has been revamped. They display prominently the use of our energy efficient light bulbs in hospitals, parking garages, street lighting, offices and industries etc.
Also when I called the company, the lady (Investor Relations?) said they are working on filing an application for change to a new stock symbol. She said trading with a new symbol may happen in about 30 days. So things are looking good.
Not sure any of us know. Further, if someone says they "know," they want out and are pumping. Frankly, we need filings/PR from GEM. So far... nothing.
That was a 100K dump on the bid. Insiders are holding, not dumping.
Heavy volume and a large spread today. Any thoughts about where this will end up?
Very productive post; thanks.
i forget what market cap is here but this could turn out better than the solomon company you guys were praying for everynight before bed lol. guess we will know soon. took my 100pct and ran from here months ago but hope it works out good for you. no powder to play with atm or else i would.
As soon as Finra approves it and to tell you the truth they could also cancel it at anytime. I would have figured it would be done immediately also.
Lets hope they decide to cancel and clear many shares off the market.
Ali... Since this is my first stock to do a rev split, do you know when that should happen? I thought it would happen when the merger was complete but that doesn't seem to be the case.
Thanks and you are right.. this has been a long wait. Hope it works out. =)
Yes and after the 3 to 1 reverse I think we see a bunch more here. They did not get greedy on the reverse and have increased the A/S to accomodate preferred shares. That tellls me that have money coming in now also.
one year later from .005 to .08 and well worth the wait. Patience pay off well for those who got in last august now.
Green Energy Management Services, Inc., a Provider of Energy Saving Technology, Completes Reverse Merger with CDSS Wind Down Inc., a Publicly Traded Company
Press Release Source: Green Energy Management Services, Inc. On Monday August 23, 2010, 8:50 am
DALLAS--(BUSINESS WIRE)--Green Energy Management Services, Inc. (“GEM”), a provider of proprietary environmentally friendly, energy saving technologies for municipalities, building owners and large-scale power consumers, announced today that it has completed its previously announced reverse merger with CDSS Wind Down Inc. ("CDSS") (OTCBB: CWDW). Pursuant to the merger, GEM became a wholly owned subsidiary and sole operating entity of CDSS and CDSS will be changing its name to Green Energy Management Services Holdings, Inc. In connection with the transaction, prior to the merger, CDSS affected a 1-for-3 reverse stock split.
As a result of the merger, former shareholders of GEM were issued shares of CDSS’ common stock in exchange for their shares of GEM and own approximately 80% of the public company, with CDSS' shareholders owning the balance. In addition, as a result of the merger, Michael Samuel, the Chief Executive Officer of GEM, was appointed as Chairman, President, Chief Executive Officer and a director of CDSS, Robert Weinstein, the Chief Financial Officer of GEM, was appointed as the Chief Financial Officer of CDSS, William D’Angelo, a director of GEM, was appointed as a director of CDSS, and all of CDSS’ officers and directors prior to the merger resigned from all of their positions held with CDSS.
"We are excited to have completed the process to become public," said Michael Samuel, Chief Executive Officer of GEM. "We are seeing strong interest from public and private entities looking to reduce their cost of energy and energy management. This interest is leading to promising opportunities for GEM to provide both the technology and management expertise that will result in its customers dramatically lowering their energy costs."
About Green Energy Management Services, Inc.
Based in the Northeast, GEM is a full service, national energy management company. GEM provides its clients all forms of energy efficiency solutions mainly based in two functional areas: energy efficient lighting upgrades and renewable energy generation. GEM is primarily involved in the distribution of energy efficient light induction units (the “Units”) to end users who utilize substantial quantities of electricity. It maintains business operations on a nationwide basis, distributing products and services to municipal and commercial customers. Industry participants focus on assisting clients to effectively maximize their energy efficiency potential and couple that with maximizing their renewable energy potential.
GEM provides energy-saving technologies under long-term, fixed-price contracts. GEM provides and installs, on a turnkey basis technology which should reduce, by between 50-70%, their monthly electric costs. GEM captures a significant portion of this benefit over the life of the contract, in exchange for providing the equipment, management and technical expertise.
Addressing the energy efficiency arena, GEM concentrates its marketing efforts within geographic regions exhibiting higher than average per kilowatt hour utility rates and having energy customers who consume higher than average quantities of energy. GEM then develops an energy efficiency/energy management program which, potentially, provides end-users alternatives to decrease their energy consumption. Additionally, in many instances, GEM assumes the management and maintenance of its clients’ lighting needs which affords its clients greater labor efficiencies.
Within the renewable energy generation space, GEM’s operating team provides a comprehensive analysis of clients’ geographic location-related energy demographics to develop an energy plan which targets generating investment returns and best renewable resource solution for its clients. Currently, GEM has determined that solar voltaics are the most desirable of the renewable energy solutions and focuses its attention primarily in this area. As technologies change and become affordable, GEM is poised to begin wide-scale implementation of other forms of renewable technologies as well.
Additional information on GEM may be found at www.gempowered.com
We love to do it and we look forward to the news releases now and what the new CEO has to say. The Reverse 3 for 1 is still there but as I have said for more then a year now I have no problem in reverses that are done properly.
thank you K23 as you have spelled it out even more clearly.
my pleasure and thanks again.
To reiterate, CWDW has merged with GEM on Aug 20. 2010 and Mr. Samuel is the CEO. GEM being the surviving Corporation.
on August 20, 2010, the Merger Subsidiary merged with and into GEM, with GEM being the surviving corporation
Thanks ALiVe for helping us understand the filings. Actually you and Aliangel are helping the iHub Board in monitoring and keeping a watch on this stock.
absolutely and you are good.
That is great and he has the family at interest here. Now we just await the news and the direction from the new ceo. It is going to be exciting and right when I thought it would be. After the tenq and now we await the TBJK and AVNI to fisih theres now.
I see this going flying thru the 1 for 3 reverse and still gaining a couple hundred percent over the next year.
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GREEN ENERGY MANAGEMENT SERVICES HOLDINGS, INC.
September 30, 2010 | December 31, 2009 | |||||||
(Unaudited) | (Audited) | |||||||
ASSETS | | | ||||||
Current | | | ||||||
Cash | $ | 459,179 | $ | 18,241 | ||||
Contract receivables | 33,735 | 220,652 | ||||||
Prepaid expenses | 101,904 | 3,710 | ||||||
Total Current Assets | 594,818 | 242,603 | ||||||
Property and equipment-net | 87,604 | 79,339 | ||||||
Licensing agreement | 633,600 | - | ||||||
Other assets | 8,440 | - | ||||||
Total Assets | $ | 1,324,462 | $ | 321,942 | ||||
LIABILITIES | ||||||||
Current | ||||||||
Accounts payable - trade | $ | 275,812 | $ | 222,370 | ||||
Line of Credit | - | 195,000 | ||||||
Note payable - Current portion | 12,223 | 10,877 | ||||||
Advances from stockholders | - | 38,550 | ||||||
Other accrued liabilities | 134,962 | 3,802 | ||||||
Total Current Liabilities | 422,997 | 470,599 | ||||||
Note payable - long-term portion | 43,027 | 52,351 | ||||||
Total Liabilities | 466,024 | 522,950 | ||||||
STOCKHOLDERS' EQUITY (DEFICIT) | ||||||||
Common stock, $0.0001 par value, 500,000,000 shares authorized; 442,003,636 and 351,691,756 shares issued and outstanding on September 30, 2010 and December 31, 2009, respectively | 44,200 | 35,169 | ||||||
Additional paid-in capital | 2,020,402 | (34,169 | ) | |||||
Subscription receivable | (50,000 | ) | - | |||||
Retained deficit | (1,156,164 | ) | (202,008 | ) | ||||
Total Stockholders' Equity (Deficit) | 858,438 | (201,008 | ) | |||||
Total Liabilities & Stockholders' Equity (Deficit) | $ | 1,324,462 | $ | 321,942 |
Three months ended September 30, | Nine months ended September 30, | |||||||||||||||
2010 | 2009 | 2010 | 2009 | |||||||||||||
| | | | |||||||||||||
Contract revenue earned | $ | - | $ | 504,097 | $ | 291,311 | $ | 1,464,452 | ||||||||
Cost of revenue earned | - | 320,246 | 270,163 | 1,280,804 | ||||||||||||
Gross profit (loss) | - | 183,851 | 21,148 | 183,648 | ||||||||||||
Selling, general and administrative expenses | 578,988 | 72,601 | 989,348 | 246,153 | ||||||||||||
Gain on settlement of trade payables | (24,029 | ) | - | (24,029 | ) | - | ||||||||||
Operating income (loss) | (554,959 | ) | 111,250 | (944,171 | ) | (62,505 | ) | |||||||||
Miscellaneous income | 1,462 | - | 1,112 | - | ||||||||||||
Loss on sale of assets | - | (3,220 | ) | - | (3,220 | ) | ||||||||||
Interest expense, net | (2,823 | ) | (1,244 | ) | (11,097 | ) | (6,443 | ) | ||||||||
Total other income (expense) | (1,361 | ) | (4,464 | ) | (9,985 | ) | (9,663 | ) | ||||||||
Net income (loss) before income taxes | (556,320 | ) | 106,786 | (954,156 | ) | (72,168 | ) | |||||||||
Income taxes | - | - | - | - | ||||||||||||
Net income (loss) | $ | (556,320 | ) | $ | 106,786 | $ | (954,156 | ) | $ | (72,168 | ) | |||||
Net income (loss) per common share - basic and diluted | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | ||||||||
Weighted average number of common shares outstanding | 390,961,398 | 351,691,756 | 364,925,482 | 351,691,756 |
Nine Months Ended September 30, | ||||||||
2010 | 2009 | |||||||
Cash flows from operating activities: | ||||||||
Net loss for the period | $ | (954,156 | ) | $ | (72,168 | ) | ||
Adjustments to reconcile net loss to net cash (used in) operating activities: | ||||||||
Depreciation | 5,851 | 7,180 | ||||||
Stock-based compensation | 90,000 | - | ||||||
Gain on forgiveness of trade payables | (24,029 | ) | ||||||
Loss on sale of vehicle | - | 4,250 | ||||||
Net change in assets and liabilities: | ||||||||
Decrease in contract receivables | 186,917 | 27,710 | ||||||
Increase in prepaid expenses | (98,194 | ) | - | |||||
(Increase) decrease in other assets | (8,440 | ) | 5,374 | |||||
Increase (decrease) in accounts payable - trade | 77,471 | (12,765 | ) | |||||
Decrease in billings in excess of costs and estimated earnings on uncompleted contracts | - | (70,496 | ) | |||||
Increase (decrease) in advances from shareholders | (38,550 | ) | 3,552 | |||||
Increase in accrued liabilities | 131,160 | 674 | ||||||
Net cash (used in) operating activities | (631,970 | ) | (106,689 | ) | ||||
Cash flows from investing activities: | ||||||||
Cash distributions prior to merger | (9,998 | ) | - | |||||
Purchases of property and equipment | (14,116 | ) | - | |||||
Net cash (used in) investing activities | (24,114 | ) | - | |||||
Cash flows from financing activities: | ||||||||
Net proceeds from line of credit | 5,000 | 43,581 | ||||||
Repayment of debt on installment notes | (7,978 | ) | - | |||||
Cash proceeds from merger transaction | 1,100,000 | - | ||||||
Net cash provided by financing activities | 1,097,022 | 43,581 | ||||||
Net increase (decrease) in cash | 440,938 | (63,108 | ) | |||||
Cash - beginning of period | 18,241 | 70,143 | ||||||
Cash - end of period | $ | 459,179 | $ | 7,035 | ||||
Supplemental disclosure of cash flow information: | ||||||||
Cash payments for interest | $ | 11,105 | $ | 6,443 |
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