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LGAL - Legal Access Technologies/UnderSea Recovery Corporation DD Sheet 6-28-09
Symbol
LGAL
Exchange
OTC: Pink Sheets
Share Structure[March 23,2009]
Authorized: 350,000,000
Outstanding: 163,927,291 as of June 15, 2009
Float: 92,909,000 as of June 15, 2009
The Float is very tight here, watch how she trades!
Company Website
http://www.unsr.com
Transfer Agent NOT GAGGED-FULLY FUNCTIONAL
National Stock Transfer
Salt Lake City Utah
Phone: (801) 485-7978
LGAL - Legal Access Technologies/UnderSea Recovery Corporation
UnderSea Recovery Corporation ("UNSR") was formed in 2004 as World Explorer Corporation, a private Georgia corporation, in order to pursue deep-water archaeologically guided exploration and recovery of shipwrecks throughout the world, based on sound scientific, business, and ethical principles. UnderSea Recovery Corporation was designed to become an international leader in the recovery of shipwrecks and other cultural resources from the world's oceans and large lakes by applying advanced technologies in an archaeologically and environmentally sensitive manner. The UNSR founding team established a corporate structure capable of designing and combining proprietary and unique sensors, instrumentation, and systems with state-of-the-art technologies to deploy rapidly adaptable instrumentation systems for exploration and recovery of shipwrecks throughout the world. UNSR’s capabilities allow it to use an enterprising blend of products and services in undersea technology, underwater archaeology, and maritime heritage to maximize corporate value.
In April, 2005 World Explorer Corporation (“WEC”) merged with a subsidiary of Legal Access Technologies, Inc., a public Nevada corporation (“LATI”) bringing the management team of WEC to LATI. After the merger, LATI began the process of changing its name to UnderSea Recovery Corporation, and LATI will use the name UnderSea Recovery Corporation as a DBA until the name change is completed. LATI’s stock is quoted on the OTC Bulletin Board as LGAL.OB.
** LGAL: The Three Pronged Victory **
For those of you following Legal Access Technologies Inc. (ticker: LGAL), I'm sure the majority of you are smiling after Friday's action. Not only was there some very nice price action, there were three key resistance levels all smashed too, giving you the "Three Pronged Victory".
The first resistance level, which was demolished the most, can be seen below on the chart via the yellow circle. This resistance was formed by a down trending trendline. Breaking this level was important because it shows that the previous 2 month "drift downwards" has been broken. Remember, lots of players follow the trends of stocks, and now that the short term downtrend has been broken on LGAL, this will set off alerts.
The second resistance level broken was the previous high resistance of $..0031 (seen by tan circle). During the last bounce, this was the level where the bears built their fortress and would not let the bulls past. This time around however, the bulls stampeded right over the bears fortress and have now raised the bullish flag indicating victory.
The final victory for the day was the psychological break of the 50 day simple moving average (blue circle). The majority of chartist use this moving average, so there is the self fulfilling prophecy situation that goes along with it. Many times it will become a resistance "just because" it is the 50-SMA. This was not the case on Friday. Not only did the bulls crush it, they closed way above it.
A few other things of interest on the chart:
- check out the orange box - look at that increasing volume - seems as though interest is slowly but surely rising
- MACD is looking strong - nearing the ' 0-line ' crossover - always a bullish even for the MACD faithful
- you got to like the money flow - both the MFI(7) and MFI (14) are heading upwards - no question which direction money is flowing for the stock
- the next bears fortress looks to be at $.006 - if the bulls can stampeded over it, another nice move is very possible
This upcoming week should be extremely interesting. The bulls are taking charge, and now the question becomes, can the bulls keep it up, or are the bears mounting a counter attack? The only factor that can answer that question is "time", so we'll just have to sit back, grab some popcorn, and watch the chart take shape.
RECENT PRESS
GlobeNewswire(Fri, May 29)
Legal Access Technologies Signs Issuer Services Agreement With Pink OTC Markets, Inc.
http://biz.yahoo.com/pz/090529/166342.html?.v=4
GlobeNewswire(Mon, May 18)
Legal Access Technologies, Inc. Announces Plan to Upgrade to 'Current Information Company' On the Pink Sheets
http://biz.yahoo.com/pz/090518/165639.html?.v=4
GlobeNewswire(Thu, Feb 19)
Legal Access Technologies, Inc. Announces Exclusive License of ATLIS Technology From Admiralty Holding Company
http://biz.yahoo.com/pz/090219/159952.html
GlobeNewswire(Fri, Nov 7)
Legal Access Technologies, Inc. Announces Rapid Expansion Plan
http://biz.yahoo.com/pz/081107/154196.html
MANAGEMENT
Herbert C. Leeming - CEO and Director
Herbert C. Leeming is a co-founder of Admiralty and has served as Chairman of the Board for the Company since its inception in 1988. He has been integrally involved in all organizational aspects of the Company. Prior to 1988, Mr. Leeming was active in oil and gas exploration and production, energy management, real estate acquisition and financing. Particular areas of expertise relate to his ability to supervise and coordinate major business transactions. He has been instrumental in bringing together the requisite parties for business and financial transactions and has also served as a liaison between corporate management and the legal, accounting, financial, governmental and academic communities. He has held senior executive positions with numerous companies.
James W. Larsen - Chief Technology Officer, Vice President - R & D
James W. Larsen is the Chief Technology Officer, Senior Vice President of R&D Technology and a director and has been associated with the Company since its inception. He is a Senior Research Scientist with Georgia Tech Research Institutes Electro-Optical Device Branch where he has been employed since January 1981. He is also a senior member of the Underwater Research Programs Office of Georgia Tech Research Institute. Mr. Larsen holds a Master of Science in Physics, Master of Science in Electrical Engineering, and a Bachelor of Science in Applied Mathematics. His research experience covers a wide range of subjects, including projects involving saltwater environments and advanced remote sensing applications.
Bobby Goldman - Vice President, New Business Development
Bobby Goldman has been associated with the Company since 1989. Mr. Goldman graduated from the University of Miami and for the 34 years had been employed by Sonnenblick-Goldman, a 109 year-old real estate brokerage firm specializing in financing, sales and joint ventures. During the past 25 years, Sonnenblick-Goldman has completed well in excess of $70 billion in transactions through its regional offices in the United States.
Robert A. Fisak - Vice President, Operations
Robert A. Fisak, our Vice President of Operations, previously worked with Admiralty on its permitting activities and operational planning. He founded and was president of a security consulting company providing business and legal support. Previously, he served as an officer in a telecommunications company and was also employed by the Federal Government for 23 years. He held various research and operational positions in the Treasury Department and at the Board of Governors of the Federal Reserve System. Prior to his Federal service, he was an Officer in the U.S. Army, served two tours in Vietnam and completed other assignments in the United States and Europe. He graduated from the University of Maryland with a BA in Economics and continued his education with postgraduate studies at George Washington University.
Robert W. Schwab, III, Vice President - Historical Research and Project Evaluation & Analysis
Robert W. Schwab is Vice President of Historical Research and Project Analysis. A graduate of Williams College and the American Graduate School of International Management, he has been associated with UNSR since its inception. An expert in international affairs, he has engaged in a number of delicate international issues, primarily in Asia. He has participated in the recovery of the treasure wreck Atocha and in the expedition to find and excavate the Somerswreck. He was active in a marine search and recovery project in the State of Florida, and is engaged in ongoing treasure salvage research in the Philippines.
ARCHAEOLOGICAL RESEARCH DEPARTMENT
Kenneth J. Vrana - Historic Shipwreck Management Specialist
Kenneth J. Vrana is a nationally recognized expert in the scientific research, strategic management, and sensitive development of historic shipwrecks for applications in heritage tourism. His unique academic training and broad professional experience in the fields of parks, recreation and tourism, and underwater archaeology spans 30 years of employment in government, academia, and private sector. During this time, Mr. Vrana has logged nearly 1,000 operational and scientific dives dependent on the use of advanced undersea technologies. Special assignments have included project coordinator for the first civilian expedition to Edmund Fitzgerald in 1989, and consulting underwater archaeologist for Titanic Expedition 2004 and Carpathia Expedition 2007. Mr. Vrana is author and/or editor of over 75 academic, technical, and popular articles dealing with historic shipwrecks, underwater archaeology, maritime heritage management, recreational scuba diving, coastal and heritage tourism, marine parks and protected areas, and heritage education. Prior to joining Legal Access Technology Corporation, he was president of Archaeology & Maritime Heritage International, LLC and the nonprofit, research and educational organization Center for Maritime & Underwater Resource Management (CMURM).
Phillip J. Wright - Historic Shipwreck Management Specialist
Phillip J. Wright has practiced archaeology for 36 years and has worked as a professional in both the public (1972-1990) and private sector applying project management, planning and consultative skills in the field of archaeology and heritage resource management. He has an extensive range of archaeological field expertise, and experiences in the management, research and assessment of both terrestrial and underwater heritage resources and landscapes. In recent years he acted as director of archaeology in large-scale and complex underwater archaeology projects in the Caribbean area (Cuba, Bahamas, Jamaica) that required compliance with law, standards, and best practices in archaeology, historic preservation, environmental quality, and natural resources management. Additionally, he has conducted academic and applied research as a Research Associate at the Center for Maritime and Underwater Resource Management (CMURM) (formerly with Michigan State University, East Lansing, Michigan that is now a private not-for-profit foundation). He has been involved in an extensive number of publications in the field of archaeology.
LEGAL SERVICES DEPARTMENT
Steven A. Cunningham - In-House Corporate, Legal & Securities Specialist
Steven A. Cunningham is a co-founder of Admiralty and has served as an officer and a director of the Company since its inception. He has been a partner in several major Atlanta law firms and has recently served as Executive Vice President and General Counsel for a publicly traded real estate and mortgage banking company headquartered in Alpharetta, Georgia. Mr. Cunningham's areas of expertise encompass corporate finance and securities law, mergers and acquisitions, international law and licensing. He has represented numerous companies, many technology-based, in connection with public offerings and private placements of debt and equity securities and in merger and acquisition transactions. Additionally, Mr. Cunningham was a tenyear member, by appointment of the U. S. Secretary of Commerce of the Atlanta District Export Council. In this capacity, he assists and advises U.S. companies in the export of goods and services, and helped draft marine exploration and excavation permit laws for the country of Belize, Central America. Mr. Cunningham graduated from the University of Alabama, summa cum laude, in 1974 and from Harvard Law School, cum laude, in 1977.
OUR PATENTED TECHNOLOGY!
LGAL/UNSR uses and is the legal owner of their patented technology ATLIS. Most exploration companies use generic tools and boast about using “enhancements” for that equipment. But what seperates UnderSea Recovery Corporation is their patented ATLIS technology!
ATLIS (Admiralty’s Treasure Locating Instrument System)
ATLIS is a one-of-a-kind remote-sensing proprietary technology used in the marine environment that detects nonferrous metals. As of the date of this overview, ATLIS® has received five (5) patents pertaining to critical aspects of the overall technology. ATLIS® can detect gold, silver and other precious metals in salt-water environments and has been designed primarily for use in regions where the water is shallow (i.e., where the depth ranges from 20 feet to about 100 feet). Of the many thousands of historic shipwrecks lost since the early 1500s, it is estimated that more than ninety percent (90%) went down in shallow water locations within sight of land (no more than ten miles from shore).
The two current ATLIS® models (both about 80% completed) are 1st generation units, which are “diver-manipulated.” These units transmit cone-shaped electrical frequencies that penetrate sand, silt, coral, rock and wood to a depth of about five feet. The wide bottom-end of the cone will cover an area having an 5-foot diameter and any precious metals within this area will be detected by ATLIS® and rapidly analyzed by specially configured computers and accompanying software. Plans are underway to build more powerful 2nd generation and 3rd generation models; each will afford greater penetration and bottom coverage area. These later generations of ATLIS® will be towed from behind a ship, or incorporated in or attached to ROVs (remotely operated vehicles) and AUVs (autonomous underwater vehicles), significantly enhancing the search process and reducing the time needed to begin recovery operations. UNSR, at its sole expense, will be responsible for developing, funding and building these enhanced, later generation models. UNSR’s senior scientist, Jim Larsen, the inventor of the ATLIS® technology, is currently developing a special ROV that, when completed, will be unlike any in existence, and will be ideal for deploying ATLIS® in UNSR’s shallow water shipwreck projects. UNSR will continue to conduct historical research on shipwrecks, principally those from the 16th, 17th and 18th centuries. World-class historians and archival researchers will be engaged as needed for study of particular vessels or geographical areas of interest.
THE BOAT – THE NEW WORLD LEGACY
UnderSea Water Recovery Corporation's Boat! The New World Legacy!
Check out The New World Legacy on Youtube!
http://www.youtube.com/watch?v=fT6zqCmeonQ
The Legacy is a 110-foot, 169-ton search and recovery vessel with an all-aluminum hull. It was designed and commissioned in 1999 specifically for the business of locating and recovering historic shipwrecks. This vessel has been outfitted with special marine survey and recovery equipment, including a "fish tow" cesium magnetometer, two handheld cesium magnetometers, sub-bottom mapping electronic equipment and software,
two 19-foot Boston Whalers, and a heavy-duty crane. According to the manufacturer of the cesium magnetometers, such devices are 1,000 times more sensitive than the traditional proton magnetometers that have been widely used by marine salvage companies for many years in conventional shipwreck search activities.
[chart]i23.photobucket.com/albums/b377/mm107/LGAL/DESCRIPTIONPHOTOS8.jpg?t=1246141837>
GRLC Very low float....
Got some sell volume today on the bid...But level 2 looks about ready...Low O/S (113 million as of June) and revs of $404,000.
May move in the next few weeks.
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