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Online Sales Strategies, Inc. (OSSG) Finalizes Sale of GIGcom, Inc. to Rocket City Enterprises, Inc. (RCTY.PK)
Friday September 28, 8:04 am ET
TAMPA, Fla.--(BUSINESS WIRE)--Online Sales Strategies, Inc. (Pink Sheets:OSSG - News; "OSSG" or "the Company") announced today that it has finalized the sale of subsidiary GIGcom, Inc., a leading full-service online solutions provider for small and medium businesses, to Rocket City Enterprises, Inc. for shares of restricted stock and a one-time cash payment. Matthew A. Brown, President of Online Sales Strategies, Inc. will continue in his capacity as President of GIGcom and will be joining the Rocket City team as President and Chief of Technology.
Mr. Brown explains, "Rocket City has built a strong, well-deserved reputation for efficient business management while continuing to live up to its tradition of technological innovation in the software and automobile industry. By bringing our own products to the table, we're confident that GIGcom will strengthen and diversify Rocket City's business model and allow Online Sales Strategies to strengthen its reach within the marketplace as well."
Jeff Roman, CEO and Chairman of Rocket City stated, "We see this acquisition as the next logical step in our long-term strategy. By acquiring GIGcom, Rocket City will be able to utilize its suite of products and services and tap into the next generation of the internet. This creates a very large potential customer base for Rocket City's future. At the same time, we believe that GIGcom's services will fit seamlessly with Rocket City's business, extending our end-to-end solutions. We think it would be hard to find a more complementary match for these two businesses than what this combination provides."
About Online Sales Strategies Inc.
Online Sales Strategies' mission is to become a leading provider of all necessary resources to successfully manage and operate online sales and software related businesses. AuctionSound is an ASP application for online asset management and was created for eBay Trading Assistants to manage online sales and consignment products which includes customer management, listing tools, auction templates, image hosting, shipping and financial reporting all from one interface. The AuctionSound platforms provide a turnkey solution to the product-to-cash cycle across multiple marketplaces and our suite of eCommerce products allow customers the flexibility to manage their customers' shopping experience. Our customers range from independent retailers striving for an online presence to entire franchise chains seeking an intelligent solution to manage their network of stores. OSSG continues to develop strong relationships with both customers and peripheral service providers to bridge the digital divide between consumers and businesses. AuctionSound is a certified eBay compatible application that supports various business models in several countries.
Hmmm... Company gets $250,000 in cash and 370,000 shares of RCTY.
Nice...
JL
giff: Thank you for the heads up on the dual tickers for what is apparently the same company. Even the cusips are different. The lack of an additional designation (i.e. Class A, etc) is very strange. It appears to be common shares in both cases.
I like the "sleepy time" action here. To me it says:
1) Washed out share price action;
2) No players visibly active;
3) It is consistent with a big move higher at some point;
4) It will hit you over the head with a 4x6 when the move does come.
I want to see the right action - with follow-on advance - before I commit heavily. I think other players see it the same way. Right now the movers are biding their time.
I am attentive as I think the timing is right - but the commitment soft.
JL
It would not be the first time 2 of the same names with da JS company... LOL... USSE ringing! yaw heck.. just wanted to use the same name.. no biggie.. LOL
JL... I just noticed that on the daily list.... I thought it was an error. Thinking... JS picked up another and will move'r in OSSG after the split... I think a call to Brown would answer.
It does kinda fit with OSSG.
Fer' now, it looks to be some good ol' boy sittin' on a worn, grey dock on a hot summers day - wearin' an ol' straw hat and coveralls - cicadas buzzin' and the air still and humid. Bought some bait a few weeks ago and he's still usin' it. He's fishin' fer' croppies, suns, and 'gills - usin' 1/2 a worm on the hook.
But you never know when Mody Dick might come around and rock his day. Makes fishin' more funner.
JL
giff:
So. It appears we have two companies, with identical names, trading under different ticker symbols?
OSSI: OnLine Sales Strategies Inc. Trading between $16 and $1.90 over one year and;
OSSG: OnLine Sales Strategies Inc. Trading between $0.10 and $0.005 over one year.
Anyone care to elucidate? LOL!!!!!!
JL
Daily list...09/26/2007 13:53:19|S2|OSSI|TODI|Online Sales Strategies, Inc. Common Stock|Today.Com Inc New Common Stock|09/27/2007|1-2 R/S **|||u
What's this? LOL.. different symbol but a nice addition?
http://www.today.com/
http://finance.yahoo.com/q?s=TODI.PK
the most popular video today at today.com
http://www.today.com/video/view/pfc-hayes-stripping-in-iraq-hottie-army-girl-vote-ron-paul/play-129/
wow you mean i have all that to look forward to. lol.
thanks for your response. ccltd
i checked the address first before sending the email and it is correct. hopefully will get a reply tomorrow. i know it isn't a lot of money just the principal of it.
thanks for all your help. ccltd
Oh my god! I am so glad I waited around to get those shares!
1) Restricted;
2) Worth about 10 - 15 bucks based on VTBD trading share price (but you can't sell them);
3) No notice as to when you can sell them. (Not to worry, broker gets all the money in commissions anyway).
4) The jokes on me. I have it hanging on the bathroom stall in front of the commode. I am thinking of painting it a florescent green color so I can save money by not having to turn on the bathroom light when I have to use the facilities in the middle of the night.
JL
Check to see what address you have with your broker. That will be the address that VTBD will have on record and send your certificate to. And you had to be a shareholder by the date of record which I believe was sometime early July.
thanks, i emailed them again. hope they respond this time. ccltd
Got them in the mail in certificate form. As fuge mentioned, there is a big fat Restricted 144 on the top.
has everyone gotten their divys? how did you receive them?
i haven't gotten anything. i emailed them as per the news but no response yet. just wondered if i am the only one not receiving yet. thanks, ccltd
Looks like they are still trying to distribute that 1,000,000 share block the company gave them last week, up to .02. Looks like they used general strength in equities to "mark-up" the price.
Doubt they are done distributing, but they were in a hurry to take marginally higher prices to sell into. Not a good sign.
Nothing from the "company", so movement is not company specific.
Still looks like distribution by small players.
Not a buyer here.
JL
Not touching it for now. Yesterdays large volume, and the action today smells more like the company floated some new shares yesterday and the MM is working it off. If I am right, the number of shares dumped by the company is probably on the order of 800,000 to 1,000,000.
JL
Got them yesterday as well. What a hassle to have to send them to our brokers.
Got my Vital Trust shares today- # 6221.
Big fat Rule 144 on them.
-- Better than a stick in the eye --
TES:
I think GIFFS post is more accurate than mine was - but then again, why quibble when trying to split a penny?
Where did you see the VTBD financials? I'd love to take a look.
I don't know how they get away with it, TES. I suppose it has a lot to do with it being a non-reporting company. The board does things when it gets around to it.
I was in a small restaurant stock that had the same behavior, but then they turned it around recently. It just takes time maybe.
You do sound angry, and based on your investment you should.
The flip side is that there is little selling in OSSG. At least they are not issuing new shares. That is the curious thing. Someone wants this thing alive and well. It appears very, very washed-out to me.
VTBD also has the same look. I just hope that this has not been somehow set up as an arbitrage between 2 or more companies that will work against shareholders. One can hope that I am being too pessimistic.
Take care...
JL
giff: By Jove, I think you have got it! LOL
I forgot that VTBD was "valued" at 9 cents.
.011 (OSSG a few days ago) + .0036 (Distribution of VTBD) = .0146. The distribution could explain why the share price of OSSG "exploded" from .011 to .017! LOL
OOPS! OSSG appears to be "overvalued" at .017! Better sell my 30,000 shares of OSSG, and use the restricted for wallpaper.
OOPS! - but the "new" shares are restricted - for how long - a year?
Seriously, looks like the share price of the two companies should move in proportional lock-step - minus a discount for the locked-up of the restricted. Anything of substance happening at VTBD?
I wonder if there is any chance that the large number of restricted shares held by those close to the company would be accepted as collateral by the Federal reserve? Seems like they'll take anything these days. LOL
Did you hear the rumor that the distribution comes with sub-prime debt instruments attached? LOL
Yawn.... Back to the QQQQ's. Made a mint there over the past 2-weeks.
Good luck to you.
JL
Sounds...
about right to me 1/25. Saw the VTBD financials today. Wow that's a lot of nothing.
The real value would have seen in the USEI and EFTI shares promised Whight Knight holders. How can you issue a pres release with record dates, announcing events then just not execute on them - and not explain the change either?
Do I sound a bit angry?
I'm going to end up with $1,500 worth of stock on a $75k investment. And with very little upside as I see it. To much schinanigans(sp)
You don't think this?
PR... May 22, 2007 - 9:42 AM EST...."Shareholders who have acquired the Company’s stock in the open market and hold that stock as of July 4, 2007 will be eligible for this distribution. Shareholders who qualify will receive 1 share of Pangea for every 25 shares of the Company and will maintain ownership of their OSSG stock." Pangea being VTBD.OB
Example:
20,000/25 = 800 shares of VTBD.OB current pps of $.09/share
so 800 shares x .09 = $72
So if'n 20,000 x .015 = $300 plus da $72 totals $372
so adds $.0036/share to your value
Now what does it cost to file a 144 after a year?
zecco - 144 Sales $35.00 plus regular commission oops half da shares!!
TD is $25 and maybe legal opinion.. what's da cost.. LOL..
a few other rules....
TES and giff:
My guess is that the shares are:
RESTRICTED (ONE YEAR)
HAVE A VALUE OF ABOUT 1/20th OF EACH SHARE OF OSSG. With OSSG at .015, that would make the value of the distribution about $.00075 per OSSG share!
I would love someone to prove me wrong?
LOL
JL
I don't even know.
the conversion rate. Common stock or restricted?
Never mind that what was originally promised was shares in two other companies PLUS the holding company.
Oh I believe the shares will be distributed alright. And I believe they'll make us laugh at the real cash value.
What can be done? Live and learn is all.
That seems to be a the way a Stanton company operates. May cost more to sell then worth! depending on shares you get.
Giff: I will believe it when I see it! But at least they followed-through. I really don't know what it means though...
So. What were the terms of the distribution? One year restriction? What was the ex-date? July 4th?
So many questions and so few answers...
Maybe the market can answer the questions?
JL
NEWS... Online Sales Strategy Group Announces Stock Dividend Mailing
Online Sales Strategies, Inc., (Pink Sheets:OSSG) (“OSSG” or “the Company”) announces the distribution of Vital Trust Business Development Corporation (OTCBB:VTBD) common stock to complete the dividend distribution announced on July 4th 2007. The restricted stock certificates are being mailed to shareholders address of record.
Any shareholder who does not receive their certificate by September 15, 2007 should notify the Company at info@ossg-us.com.
Online Sales Strategies Inc.
Online Sales Strategies mission is to become a leading provider of all necessary resources to successfully manage and operate online sales and software related businesses. AuctionSound is an ASP application for online asset management and was created for eBay Trading Assistants to manage online sales and consignment products which includes customer management, listing tools, auction templates, image hosting, shipping and financial reporting all from one interface. The AuctionSound platforms provide a turnkey solution to the product-to-cash cycle across multiple marketplaces and our suite of eCommerce products allow customers the flexibility to manage their customers’ shopping experience. Our customers range from independent retailers striving for an online presence to entire franchise chains seeking an intelligent solution to manage their network of stores. OSSG continues to develop strong relationships with both customers and peripheral service providers to bridge the digital divide between consumers and businesses. AuctionSound is a certified eBay compatible application that supports various business models in several countries.
For more information, please visit our website at www.ossg-us.com or email our Investor Relations Department at investors@onlinesalesstrategies.com.
Par for the course
is so true... and painful. I mean, the "promise" to White Knight holders was dividend shares. So those who paid 20 cents for shares 3-4 years ago get rewarded with dividend shares in another holding company and NOT stock in the held companies as promised.
And to make matters worse, the dividend shares ALSO go to shareholders who purchased shares 3-4 months ago (not 3-4 years!) thus diluting the original holdrs positions in the dividend.
THEN they promise this 6 months ago and here I am still waiting!
Another thing OSSG has promised (a year ago) was filings. There was major expansion in the drop-off business at one time - now nothing (reported) and who know how that business is going?
So what did the White Knight holders get?
Indeed - this defines par for the course.
TwoEdgedSword: I stand corrected. So if they get 1% of the transaction amount, that would mean $15,000. No wonder nothing is happening that would be driven from an operating perspective!
As to the announced distribution of VTBD shares, it is par for the course in Stanton related companies. Look at the USSE fiasco. Heck, folks waited for months there as well. Looks to be SOP. To be fair, the distribution in the USSE situation did (finally) go through.
Still, someone keeps flopping 200,000 shares around as if they are simply trying to show the shares are at least trading. The good news is that there is no one around to sell. In this environment however, the MM walks this dog wherever he wants to.
I think one waits for signs of: 1) Better operating results; 2) An actual, announced Distribution (or) EX-Date for VTBD or; 3) A real push, on real volume, to at least the $.05, before acting.
Keeping my powder dry until then. If any of the above occur, they could signal a move out of this year-long trading range.
I'll believe it when I see it.
JL
1.5 Million Revenue
Unfortunately, that's not exactly what was reported. Their software was used to process $1.5m is transactions.
A purported measure of the growth of "market penetration" the software is seeing. If it were revenue exceeding $1.5 just for AuctionSound, shareholders would be jumping for joy.
As a shareholder, rather than AutionSound volume (albeit interesting), I'm more interested in when the VTBD shares will be distributed. Record date of July 4th. Nearing September 4th and nothing.
More surprising is that I am seemingly the only one interested or upset about it. Time is money and time is passing... costing me money.
Deader than a door nail! Maybe "deader". (Should tell investors something about the validity of the newest press release stating 1.5 Million in revenuel!)
Uggh!
No playing here for now.
JL
News... AuctionSound Surpasses $1.5 Million in Volume per Month
Online Sales Strategies Inc.
August 14, 2007 - 9:25 AM EST (Pink Sheets:OSSG) (“OSSG”) announced today that its wholly owned subsidiary, AuctionSound, LLC (“AuctionSound” or “the Company”) surpasses $1.5 million per month in volume as its network of users continues to expand. The Company expects this growth pattern to continue and anticipates exceeding the $2 million mark by Q4 2007. AuctionSound will capitalize on these volumes and expand revenues as an organization.
“This growth is clearly a result of a larger customer base,” stated Matthew Brown, President, Online Sales Strategies. “Continually expanding the array of functionality of the AuctionSound software, as we pledged we would, has promoted our presence in the eBay retail community. We will continue to develop technological advancements within the eBay ecosystem that cater to eBay Trading Assistants and eBay retail environments. Developing these advanced tools will expand the Company’s reach further increasing our customer base and volumes,” Brown continued.
About Online Sales Strategies Inc.
Online Sales Strategies mission is to become a leading provider of all necessary resources to successfully manage and operate online sales and software related businesses. AuctionSound is an ASP application for online asset management and was created for eBay Trading Assistants to manage online sales and consignment products which includes customer management, listing tools, auction templates, image hosting, shipping and financial reporting all from one interface. The AuctionSound platforms provide a turnkey solution to the product-to-cash cycle across multiple marketplaces and our suite of eCommerce products allow customers the flexibility to manage their customers’ shopping experience. Our customers range from independent retailers striving for an online presence to entire franchise chains seeking an intelligent solution to manage their network of stores. OSSG continues to develop strong relationships with both customers and peripheral service providers to bridge the digital divide between consumers and businesses. Auction Sound is a certified eBay compatible application that supports various business models in several countries.
Ouch, what a terrible trading day. I don't know what to think anymore about this stock.
Those holding long position in micro-cap stocks like OSSG have a unique opportunity to blow out short positions and drive prices for microcaps sharply higher at this time, and they don't even know it.
Sad.
JL
AuctionSound Signs Agreement with DHL and Launches Internal Shipping Solution
This is excellent news.
Matthew Brown
I have spoken to him several times, but not in awhile. It's about time to call him I think.
I was expecting this company to get filings ready and get to the bulletin board by now. I have been expecting more news of expansion as well and it's been a long time since any sort of growth news (or any news really) has been put out.
These things are what concerns me.
TES: I understand your concern. I don't think I recommended it aggressively - I recommended watching it and nibbling at lower prices - not chasing for now. I did this largely because the share price, and the volume associated with changes in it, appears "washed out". It simply suggests that there is little supply around.
Someone has been interested in accumulating shares here - but usually only at price levels between .01 and .018. As they have been buying shares, the volume associated with it has dwindled - then it pops back into the .025 - .03 area pretty quickly. Each time it comes back down, fewer shares are posted. Further, there does not appear to be much opportunity for trading anything of worthwhile size, so I am assuming accumulation is the order of the day - looking for a much bigger move in a longer time-frame. That time frame could well be into 2008, but never-the-less, what I see is less supply. It acts more like a shell for something, rather than an ongoing operating company.
In the short-term, I am seeing lower prices. For now I am content to sleep on it. Perhaps it will surprise "the rest of the world" someday?
JL
Don't get me wrong.
I'd love to see this company/stock do well. But with 1/2 a billion shares and no financial statement to look at to determine the value of this, I can't even recommend this stock within the anonymity of cyberspace.
What exactly is it that you're seeing that I and the rest of the planet aren’t?
Well-timed buy today at .013. Congrats. Following action (rise in Bid and Ask after such weak volume) says the Ask was weak. Probably a rookie seller who wanted out.
Just pick them off down here. Patience.
JL
Taking it down on almost no volume...
I am expecting some regurgitation however from a combination of weal hands - and just because the MM's can, which could take this under .01. It will be interesting to see how many shares are traded if that happens...
JL
I've had no contact with the company since April or May....
Was expecting them yes... da saga continues...
Giff.
Were you expecting to get VTBD shares? Are you still expecting them?
Last thing I saw was a July 4th record date, nothing since? Know anything about them by chance?
How dry is the supply of shares here?
Drier than British Humor;
Drier than the Sahara.
Problem is, there is no catalyst to encourage the demand side.
JL
24 days after the record date, of a very generous offer of dividend shares to "White Knight" shareholders (even if they never heard of White Knight but stumbled into OSSG) has ANYBODY see one share yet?
Jesse,
That is a very good summary of where we are at.
Since I own a lot of them my hope is that one of them does well.
-- Take care --
Correction: That was of course "...traded back into the .015 - .02 area..."
JL
fugeguy: Tom and Jerry could indeed be what is going on, but the added dimension of Uncle Sam is a consideration. It has been my humble, stated opinion that fewer and fewer shares are available as the price here traded back into the .-15 - .02 area several times over the past many months in OSSG. Recent action confirms this state of affairs.
This is consistent with a company which is not diluting. No new shares are being made available by the company. As a result the share price oscillates - on less and less volume - between .015 and .03. The reason for this might be related to the SEC scrutiny on Stanton and USSE. He may be lying low - not taking any initiatives in terms of the shares structure of other companies as a result.
Also the transfer out, from OSSG of USSE and other holdings earlier this year, ("for consideration"), may have been an attempt to insulate OSSG from potential legal problems as Stanton saw them unfolding. This makes me think that maybe OSSG is the "gem" Stanton wants to protect.
To me, all of this takes downward price pressure away from OSSG, and makes it ripe for significant price appreciation. Problem is, no one realizes it, or cares.
Too bad, because I think there is good money to be made on the upside here.
JL
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