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it appears at this time to be at the top of the risk level since its chapter 7 not 11...
real
"n' smoking a fat bowl right now!" That would explain why you are buying a bankrupt stock!
trying for 12zzz here too cheap~who doesn't drink coffeeee?====>i'm drinking coffee n' smoking a fat bowl right now!HA!
they have run to the hills---hopefully not to think of another ploy to screw investors out of hard earned $. tmonkey
i do think they owe the folks out here in the trenches that listened to the promos what actually happened.
real
they are broke and have no $ for pr--imo---as for shares still not 000 i think some people still believe in the idea and hope for a miracle-------fell in love with it----tmonkey
WHY HAS THERE BEEN NO release of information on this one.... considering the last events.
real
why isnt this 000? with a bankruptcy and clearly o left for shareholders?
i understood you fine... spelling errors and all.
real
Guess there is something to be said in proof reading!
I would guess the law suit has to be thrown out since they are in CHP7 and will sell everything off to pay current debts...maybe the people sueing them will get some of their money, but they are probably behind the secured debt holders but ahead of the shareholders in the payback line!
On a bright note, the stock has tripled from two days ago! ; )
I owuld guess the law suit has to be thrown out since they are in CHP7 and will seel everything of to pay current debts...matbe the people sueing them will get some of their money, but the are probably behind the secured debt holders but ahead of the shareholders!
On a bright note, the stock has tripled from two days ago! ; )
something is up though ... they announce they are being sued and bam chapter 7.
Not much is going on! Chapter & Bankruptcy, court appoints someone to liquidate all assets and payoff as much of their debt as they can...shareholders get ~0~ since their debts outweigh the value of the companies assets!
GWDCQ IS THE SYMBOL... BUT WHAT IS GOING ON?
so we learn about the filing for chapter 7 threw a filing... no word... and no information...now no bid its dead as a doornail and not a word from the new management... so who or what is gettting the assets?
another one that claimed to be taken over to make it transparent and function, only to revert to its former self.
how about an explanation.
real
charts don't function for this one anymore.. so whats up management? is it dead now... what is going down?
real
IT looks dead on my feed board... like it don't exist.
real
Does anyone see any trades or a b/a today?
so when are they going to "inform" us about this mess?
real
you are right !
It is very strange. Not a word is coming out.
ITS A BIT of nerve that management... or who ever took this over, is not telling shareholders what is going on... wasn't that the complaint of the previous bunch of knuckleheads that were drawing salaries of 10 thou a month?
real
Someone just sold 1000 shares at 0.001 Who would trade a dollars worth of shares??? one dollar!!
I was wondering about that myself(a fake)....seems to be buyers....and they are still selling coffee....time will tell
damn what happened to this thing?!?
Will there really be anything left to shareholders when it is liquidated ? I doubt it.
It could be a trick to buy all the shares really cheap, and then suddenly change and file for chapter 11/13 to reorganise and save the assets. If there really are any assets.
Anyway, i sold for 0.0019 - just enought to cover the commision.
That is true, CHP 13 allows reorganization....same thing happened today, bid kept getting higher...
don't know... but chapter 7 is usually the killer one right.... liquidation if I got it right.
real
why were people buying yesterday? Bid was going up all afternoon???
seems the shareholders are the last ones to know.
real
that blows... looks like its over
Someone dumped a few hundred thousand shares....no news from what I can see....
most these are pumps at one point.. look no farther then SGLS these past couple of weeks and the folks pushing it.
the amazing thing is they either die... or fly....
real
Anything is possible, if you believe....and have magic fairy dust!
Not possible now, IMO. Besides, it was a Stock Tiger pump. This is dead money...has been. GL to one and all, and beware of Stock Tiger. Anybody see NNRI lately (formerly NNRF)? Trading at a penny. A HUGE Stock Tiger pump.
THIS ONE has turned out to be a sad sack.. hope they can turn the coffee around.
real
Great News! They now have a new answering system....no company directory though!!! LOL Thats as good as the news gets here! Market value of the company now below $180,000
Calls Now Go Unanswered at the Company Office in CA.....although they neer once returned a call, at least there was an answering machine!!
Who can explain this in simple terms...It looks as if the number of shares is limited to 6 million at the current stock price thats only about 50,000 dollars if they converted to shares.....is this correct?
To obtain additional cash flow for its on-going operations, the Company entered into Subscription Agreements with
five accredited investors on March 19, 2007. The Company received gross proceeds of $2,250,000 by the issuance
of Convertible Notes (the “Notes”) at an original discount of 16% to the selling shareholders listed herein. The
Notes, due March 18, 2009 may be converted, at the option of the Noteholders, into shares of common stock of the
Company at the conversion price of eighty-five (85%) of the preceding ten (10) days VWAP. Each investor also
received warrants (the “Warrants”) equal to that investor’s pro rata portion of the Note Principal divided by the
VWAP on the closing date of the Subscription Agreement. The Warrants are exercisable until March 18, 2010.
None of the Shares being registered pursuant to this registration statement will be available for issuance pursuant to
the exercise of the Warrants.
This Prospectus relates to the resale of the common stock underlying the Notes. The selling stockholders have
contractually agreed to restrict their ability to convert or exercise their Notes and Warrants and receive shares of our
common stock such that the number of shares of common stock held by them and their affiliates after such
conversion or exercise does not exceed, 4.99% of the then issued and outstanding shares of common stock.
We have set out below, in tabular format, certain information related to: the payments which we may be required to
make to parties in conjunction with the sale of the Notes and Warrants; the total possible profit to those parties as a
result of the conversion discount related to the Notes; the total possible shares underlying the Notes; the total
possible profit to those parties as a result of any conversion discount related to the Warrants; the total possible shares
underlying the Warrants; the gross proceeds payable to the Company with respect to the Notes; and other relevant
financial information related to the sale of the Notes and Warrants by the Company.
5
Payments on Closing March 19, 2007 Cash Non Cash Explanation
JPC Capital Partners Inc. placement fees $ 180,000 Fee of 8% of gross proceeds $2,250,000
JPC Capital Partners Inc. broker shares $220,500 283,147 shares valued at $0.7791 per share
JPC Capital Partners Inc. broker warrants $137,177 240,662 warrants valued at weighted average
exercise price $0.57
Cantara SA (affiliate of Cresent International Ltd) $20,000 Due Diligence fees
Grushko Mittman $25,000 Legal fees for documentation
Total $225,000 $357,677
Less Gross Proceeds $2,250,000
Net proceeds to Grower’s Direct $
2,025,000
Other Payments on closing to selling shareholders
Original discount of 16% paid on Convertible Note
principal amount
$428,571
Possible profit to selling shareholders from share
conversion discount
$274,248
Possible profit to selling shareholders from warrant
conversion discount
$233,099
Total $935,918
Convertible Note
Principal Amount
Purchase price
paid
Original discount of 16% paid on
principal amount on closing
Crescent International Ltd $1,190,476 $1,000,000 $190,476
Pierce Diversified Strategy
Master Fund LLC
$ 59,524 $50,000 $ 9,524
Enable Growth Partners L.P $1,011,905 $850,000 $161,905
Enable Opportunity Partners
LP
$ 119,048 $100,000 $ 19,048
Bristol Investment Fund Ltd $ 297,619 $250,000 $ 47,619
JPC Capital Partner Inc. 0 0 0
$2,678,572 $2,250,000 $428,571
There are no provisions that could result in a change in the price per share
We have set out below, in tabular format, disclosures comparing: the number of shares outstanding prior to the sale
of the Notes and Warrants (which are held by persons other than the Noteholders, Warrantholders, Company
affiliates or affiliates of the Noteholders and Warrantholders); the number of shares registered, in prior registration
statements, by the Noteholders and Warrantholders; the number of shares previously registered that are still held by
the Noteholders, Warrantholders and/or affiliates thereof; the number of shares previously sold by the Noteholders,
Warrantholders and/or affiliates thereof; and the number of shares being registered, on behalf of the Noteholders,
Warrantholders and/or affiliates thereof, pursuant to this registration statement.
We have set out below, in tabular format, disclosures which are intended to set forth the potential costs, to the
Company, in the form of liquidated damages, interest payments and other penalty amounts (collectively the “Penalty
Amounts”), which may be incurred by the Company under certain listed circumstances. Prospective Investors
should carefully review the following documents with respect to the Penalty Amounts: the Subscription Agreement
(filed herewith as Exhibit 4.1); the Convertible Note (filed herewith as Exhibit 4.2); and the Warrant (filed herewith
as Exhibit 4.3). Prospective Investors should also note that notes set forth below each set of disclosure tables below
contain information regarding the hypothetical nature of many of the Penalty Amounts calculations contained within
the following tables.
Payments on Notes
6
Total
Warrants
Issued
Maximum
Shares
Issued on
Warrant exercise
Value at closing
market price $0.73
3/19/07
Exercise Price
fixed at $0.6622
Possible profit
for discount from
closing market
price
Crescent International
Ltd
1,528,015 1,528,015 $1,115,451 $ 1,011,851 $ 103,599
Pierce Diversified
Strategy Master Fund
LLC
76,401 76,401 $ 55,773 $ 50,593 $ 5,180
Enable Growth Partners
L.P
1,298,812 1,298,812 $948,133 $860,074 $88,059
Enable Opportunity
Partners LP
152,801 152,801 $111,545 $101,185 $10,360
Bristol Investment Fund
Ltd
382,004 382,004 $278,863 $252,963 $25,900
JPC Capital Partner Inc. 240,662 240,662 $175,683 $159,366
TOTAL 3,678,695 3,678,695 $2,685,447 $2,436,032 $ 233,099
# of shares
outstanding prior to
this Offering as of
September 30, 2007
# of shares
registered, in prior
registration
statements, by the
Noteholders and
Warrantholders
# of shares
previously registered
that are still held by
the Noteholders,
Warrantholders
and/or affiliates
thereof
# of shares
previously sold by
the Noteholders,
Warrantholders
and/or affiliates
thereof
# of shares being
registered, on behalf
of the Noteholders,
Warrantholders
and/or affiliates
thereof, pursuant to
this registration
statement
30,559,328 None None None 6,350,584
Date of Calculation Interest Due on Notes* Total Principal and Interest Due on Notes*
10/31/07 0 $2,678,572
11/30/
NOT LOOKING GOOD for the home team here ... and not a word from the company yet.
real
yup but the banks are being stingy right now.. I am in the middle of building a house... been in the works 3 years... got the construction loan that was suppose to roll right into a 30 year fixed... paid all closing costs up front... now we are near the end of the project and the bank wants to reneg on the loan... its nuts out there if you need financing... just go ask circuit city or the countless other businesses closing their doors.
real
You are probably right, however it seems restructure is better than default!
i doubt in this economic enviorment they restructured anything.
r
e
a
l
I imagine the next news posting could be make or break...either they have restructured their debt and have new financing or they are going under.....time will tell but the stock price doesn't show much optimism
hope they pop some good news soon.
real
don't know... is it? I have not paid that much attention since it crashed other than to watch it on my trading board for news.
real
Yahoo shows the following info:
Mr. Terry Klassen , 52
Chief Operating Officer $ 120.00K N/A
Mr. Sean Tan ,
Chief Exec. Officer and Pres N/A N/A
Mr. Nepal Kanti Muhuri , 55
Interim Chief Financial Officer N/A N/A
Mr. Benard Goma , 47
VP of Global Sales and Member of Advisory Board N/A N/A
Mr. Austin E. Hills ,
Special Advisor N/A N/A
Is this accurate?
People need a reason to buy, any hint that they can stay in business should stop some of the selling. I can't see it going anywhere until they let us in on what's going on...
would be nice to even see this hit a nickle again.
real
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Strategic Update from Growers Direct Coffee Company’s President & CEO |
Growers Direct Coffee Company, Inc. (OTCBB: GWDC) announced a strategic update today. GWDC’s President & CEO, Mick Rynning, stated, “It’s been nearly two months since I came on board with Growers Direct Coffee Company. Since that time, our team has been diligently working to assess the current state of affairs in the company, which we have now completed in a comprehensive Strengths, Weaknesses, Opportunities and Threats (SWOT) assessment. Subsequently, our team has made considerable effort to solidify our, “Tree to Cup,” vertical integrated strategy, which sets the course for our future success in growth of the company, meeting our customer’s needs, acquiring new customers, as well as improving the investment position of all current shareholders.” Mick continued, “So far, all strategies have advanced forward and a series of press releases will be made upon successful conclusion of strategic ventures. Some of our strategies are significant, innovative, and are not currently being pursued by our competitors, which is why it's been "close to the vest". We believe our market approach is innovative and we intend to become an industry leader as we advance.” Mick further added, “It’s at times like these, in our current economic conditions, that only the most smartly strategized and funded companies will be the “lights in the darkness” of the current market. The coffee segment is a good recession-resistant place for some of the smart money right now, especially with our new viable, effective and executable strategic plan. We are in discussions to secure funding for our new strategic plan, and news of that funding, as well as an outline of the new plan will be forthcoming.” In closing, Mick stated, “I cannot overstate the importance of our team taking the necessary time to develop our new strategic plan, for it is the foundation of all our successes. In the immortal words of Sun Tzu, “This is the art of strategy. It is the most important skill in the nation. In situations of life and death, it is the way of survival or extinction.” At Growers Direct Coffee Company, we fully intend to be both survivors and growers, as we execute our “Tree to Cup” vertically integrated strategy. Our Tree to Cup strategy is an excellent business model that allows our company to pursue opportunities, in spite of these challenging times." For more additional information about us and our coffee products, visit our website at www.growersdirectcoffee.com. Our wholly owned subsidiary, Uncommon Grounds Inc., established in 1984, is a coffee roasting and wholesale company based in Berkeley, California. Visit the website at www.uncommongrounds.net to purchase online artisan roasted blends and single origin coffee beans from Papua New Guinea, Jamaica, Sumatra, Columbia, Brazil and Nicaragua. Except for the historical matters contained herein, statements in this press release contain “forward-looking statements” within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that forward-looking statements involve risks and uncertainties which may affect the Company's current and future business and prospects. Actual results could differ materially, as a result of various risk factors including but not limited to: (1) competition in the markets for the Company's coffee; (2) the ability of the Company to execute its business plan; and (3) other factors detailed in the Company's public filings with the SEC. By making these forward-looking statements, the Company can give no assurances that transactions described in this press release will be successfully completed, and undertakes no obligation to update these statements for revisions or changes after the date of this press release. This release should be read in conjunction with our Annual Report on Form 10-KSB and our other filings with the SEC through the date of this release, which identifies important factors that could affect the forward-looking statements in this release. In addition, factors that could cause actual results to differ materially from those contemplated in the statements include, without limitation, overall economic conditions, and other risks associated generally with the green bean and roasted coffee business. These forward-looking statements are not guarantees of future performance. |
Growers Direct Provides Corporate Update and New Management (NOTE: 10Q was later filed and E removed)
Date : 08/19/2008 @ 9:10AM
Growers Direct Coffee Company, Inc. (OTCBB: GWDC): announced today that the board of directors have appointed Mr.Mick Rynning as the new President and CEO of Growers Direct Coffee Company Inc. Interim President JD Douthitt will serve as Chairman of the board. Nepal Muhuri remains a director and interim CFO. JD Douthitt, Chairman, stated, “Mick certainly has the credentials to lead this company and I share his vision of growth for the future. Execution is the key to success, and with Micks’ proven track record of growth and management, I am confident the future of our company is in good hands.” Mick Rynning, the new President and CEO commented, “I firmly believe that our utmost success will be achieved through genuine and mutually-beneficial relationships, guided by solid strategic planning and timely tactical execution. Using a collaborative-leadership style, I intend to meet the demands of our customers, and to facilitate the success of our business partners as we forge the future together. Growers Direct Coffee Company has a business model that is uniquely positioned in today’s marketplace, one that serves our coffee growers, while meeting consumer demand for best-in-class green coffee beans and artisan roasted coffees. We are just the conduit to facilitate and, as we execute, everyone in the pipeline will share in our collective success.” The new board is currently evaluating the state of our green coffee bean wholesale business, as well as our existing strategies for growth. After the review of our current strategies, affiliations and markets is complete, the board will announce its future plans regarding our “Tree-to-Cup” distribution model. The new board has made arrangements with several sophisticated investors to provide adequate working capital for the next six months. Further long term financing strategies will be announced upon reaching agreement with the financiers.
Management is working very hard to file the currently due 10QSB, quarterly statement, for June 30, 2008 in a timely fashion.
Date and venue for the Annual General Meeting will be announced once determined by the board of Directors.
Growers Direct Coffee Company, Inc. - Notification that Quarterly Report will be submitted late (NT 10-Q)
Date : 08/14/2008 @ 1:49PM
Growers Direct Coffee Appoints Mick Rynning as a Director
Date : 08/12/2008 @ 8:50AM
Growers Direct Coffee Company, Inc. (OTCBB: GWDC): announced today that the board of directors have appointed Mr. Mick Rynning as a new director of Growers Direct Coffee Company, Inc. (“GWDC”) Mr. JD Douthitt becomes the new
Chairman of the Board and the other director Mr. Nepal Muhuri is the interim Chief Financial Officer.
Chairman JD Douthitt commented that “Mr. Rynning is a hands-on guy who has the experience and exceptional credentials in the food and beverage industry, particularly in the coffee and franchise sector, that I am sure will greatly benefit the future growth of GWDC. I welcome Mr. Rynning as a director and will work very closely with him as we embrace the challenges of turning around GWDC.” Mick Rynning said “I have been aware of Growers Direct Coffee Company for some time and have admired their business model and top-shelf product offerings. I very much look forward to working with the Board of Directors to assess the overall state, structure and organization of GWDC, and to formulate a new strategic roadmap for our success. While shareholder value is fundamentally important, my focus will be on the drivers, key performance indicators, and relationships that will lead to increased value for our shareholders, business partners, and customers, alike. We will keep our shareholders informed as we move forward.” Mr. Rynning holds a Bachelor of Science degree in Management from Oklahoma City University, Oklahoma, 1983, as well as Certificate, Management 2000 Franchise Business School, Houston, Texas, 2001. His past and current affiliations include: Executive Board Member, Fast Casual Magazine Executive Alliance, Speaker/Educational Panel Member, National Restaurant Association, International Franchise Association, National Coffee Association USA, Specialty Coffee Association of America.
Mr. Rynning is a result-oriented business executive with wealth of experience in senior management positions and proven achievements in companies ranging from new regional and national start-ups to multi billion dollar International franchise operations. Drawing on his diverse experience of management and operations, Mr. Rynning is uniquely poised to take GWDC to an improved future.
Mr. Rynning was recently the President of Ellianos Coffee Company based in Lake City, Florida. Previously, Mr. Rynning served as a Director of International Business Development for Church’s Chicken based in Atlanta, Georgia. Mr. Rynning’s other business and franchise experience includes working as both the National Franchise Manager and Georgia District Operations Manager for OneSource Franchise Systems of Atlanta, Georgia. Mr. Rynning has also worked as the Manager of International Franchise Administration for Atlanta-based AFC Enterprises, Inc., and working with the CEOs of AFC’s four subsidiary brands (Popeyes Chicken & Biscuits, Church's Chicken, Cinnabon, and Seattle's Best Coffee).
Growers Direct Coffee Management Changes
Date : 08/08/2008 @ 4:30PM
Growers Direct Coffee Company, Inc. (OTCBB:GWDC) announced today that Mr. JD Douthitt, a shareholder, has been appointed a director and interim President of Growers Direct Coffee Company, Inc. Mr. Nepal Muhuri, the remaining director will act as the interim Chief Financial Officer. Mr. Douthitt commented “As an initial long term investor, I was left with no alternative but to welcome the challenge of turning around Growers Direct. I have commenced to contact our suppliers to help salvage our core business. The first order of business is to file the June 30, 2008, quarterly statements, while assessing the overall state of affairs of the Company. I have commenced funding negotiations to rebuild the business. I will also call a shareholders’ meeting at the earliest possible time.” Mr. Douthitt brings to Growers Direct over 40 years of successful business experiences in heavy equipment, manufacturing and ranching. Mr. Douthitt is based in Houston, Texas. Effective August 6, 2008, Vincent Cafici has resigned as the Chief Financial Officer, Secretary and as a member of the Board of Directors of Growers Direct Coffee Company, Inc. Mr. Cafici also resigned as a member of the Board of Directors and as Chief Financial Officer and Secretary of Uncommon Grounds, Inc., a subsidiary of the Company. Effective August 7, 2008, Paul Khakshouri has resigned as the Chief Operating Officer, President and as a member of the Board of Directors of Growers Direct Coffee Company, Inc. Mr. Khakshouri also resigned as a member of the Board of Directors and as Chief Operating Officer and President of Uncommon Grounds, Inc., a subsidiary of the Company.
About Growers Direct Growers Direct Coffee Company, Inc. (OTCBB: GWDC), formerly Coffee Pacifica, Inc., is a worldwide distributor and marketer of gourmet, specialty whole green bean and roasted coffees. The Company sells its coffee beans directly to coffee retailers, commercial roasters, coffee brokers, and specialty grocery and gourmet food stores worldwide. The Company places emphasis on being a sustainable and model corporate citizen by partnering with coffee farmers in countries such as Papua New Guinea, Jamaica, Colombia, and Ethiopia, to increase wages and impart knowledge on environmentally sound farming techniques. Growers Direct also has exposure to the direct-to-consumer retail market through its wholly owned subsidiary, Uncommon Grounds, Inc., a coffee roasting company based in Berkeley, California established in 1984. The Company was founded in 2001 and underwent significant management changes in April 2008. Grower’s Direct Coffee Company is headquartered in New York City. Please visit www.uncommongrounds.net to purchase and “cup” the Company’s diverse range of roasted coffee beans.
Your Own Due Diligence and Buying Decisions A Must!
~Rig~ AND frankie_fillet
read the chart and buy the dips not the tops...
weekly ~ http://investorshub.advfn.com/boards/read_msg.aspx?message_id=29407515
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