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At first the "Ask" will reflect a value equal to pre split. What "usually" happens is the stock opens after the R/S and begins to fall.
It will take LSTA a year to recover, if it's normal.
LSTA...Form 10QSB for LIVESTAR ENTERTAINMENT GROUP INC
--------------------------------------------------------------------------------
23-Aug-2004
Quarterly Report
Item 2. Management's Discussion and Analysis or Plan of Operations Forward Looking Statements
Except for the historical information and discussions contained herein, statements contained in this Form 10-QSB may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially, including any projections of earnings, revenues, or other financial items; any statements of the plans, strategies, and objectives of management for future operation; any statements concerning proposed new products, services, or developments, any statements regarding future economic conditions or performance, statements of belief, statements of assumptions underlying any of the foregoing and other risks, uncertainties and factors discussed elsewhere in this Form 10-QSB or in the Company's other filings with the Securities and Exchange Commission.
RESULTS OF OPERATIONS
FOR THE SIX MONTH PERIOD ENDED JUNE 30, 2004
For the six-month period ended June 30, 2004, the Company earned revenues of $171,319. The revenues were related to ticket sales from three (3) concert productions through the Company's live events business, and from beverage sales and entry fees from the Company's venues business.
During the six month period ended June 30, 2004, the Company incurred operational expenses of $1,415,999. These operating expenses included: business development & consulting fees of $788,196, wages and benefits of $ 268,267, and professional fees of $118,527 for the six month period ending June 30, 2004. The company continues to incur significant consulting costs, which includes business development, in its effort to realize its business strategy and its business plan.
During the six month period ended June 30, 2004, the Company incurred a net loss from operations of $1,244,680.
FOR THE THREE MONTH PERIOD ENDED JUNE 30, 2004, COMPARED TO THE THREE
MONTH PERIOD ENDED JUNE 30, 2003.
For the three month period ended June 30, 2004, the Company earned revenues of $ 113,219 as compared to revenues of $502 for the same period ended June 30, 2003. The revenues in 2004 are realized from continued efforts in our Live Events business that began in 2003, and our Venues business in 2004.
For the three month period ended June 30, 2004, the Company incurred operational expenses of $1,084,605, as compared to $237,398 during the same period in 2003. These operating expenses included: consulting fees and business development expenses $683,756 and $179,184; wages & benefits of $150,309 and $0, and professional fees of $81,450 and $24,585 for the three month period ended June 30, 2004, and 2003, respectively. The increase in expenses from June 30, 2004 as compared to the same period in 2003 is due to the increased level of business and operating activities in the Company.
The Company incurred a net loss from operations of $971,386 for the fiscal quarter ended June 30, 2004, as compared to $236,896 for the same period in 2003.
Liquidity and Financial Condition As Of June 30, 2004
We had cash-on hand of totaling $0 as of June 30, 2004.
Current Development Finance Strategy:
In order to finance the first and second acquisition or development establishments the Company may use its preferred or common stock to finance the acquisition or development or to raise the necessary capital for acquisition or development.
Future Development Financing Strategy:
In the future, we hope to fund the majority of our new establishment locations through the selling of a minority interest in the new establishments through the sale of up to 49% of the equity or through limited partnerships. This minority interest is hoped to be sold to either individual investors who wish to invest directly into an establishment or into a fund or partnership that will be funded by investors wishing to diversify their investment over a number of establishments that the fund or partnership may invest in. This proposed fund is planned to be formed by LIVESTAR exclusively for LIVESTAR establishments. The Company has begun the establishment of an internal corporate finance department and external network or syndicate of investment advisors, investment bankers and broker dealers that will raise capital via the direct investments strategy and/or form the fund or partnership that will raise capital through the fund or partnership strategy. This planned internal corporate finance department has commenced development through the recent formation of LIVESTAR Entertainment Capital Corporation. It is planned that investors under this strategy are planned to receive cash dividends and some capital stock or warrants in the Company.
In addition to the direct investment and fund or partnership strategy the Company hopes to raise capital for its new establishments through the forming of a real estate financing plan that is hoped to utilize real estate financing to fund the purchase of properties and subsequently secure construction financing to fund the renovations of the establishment.
We believe that this Future Development Financing Strategy will enable us to achieve our development goals with a hope over the long-term of reducing the potential dilution to our existing shareholders. By raising capital directly in each establishment through our planned Future Development Financing Strategy we may not have to dilute the existing shareholders to any great extent to grow the business. As our cash producing businesses grow due to the planned implementation and hopeful success of the Future Development Financing Strategy we plan to utilize the available cash to pay for operations without having to use stock to pay for large and important operational items item such as staff and consultants.
The result of this is that as our cash flow may grow as our dilution may slow. More specifically, we have developed comprehensive business and financial plans that result in our development of a network of entertainment establishments that should operate on a cash positive basis and without incurring substantial dilution to stockholders such that the Company can possibly increase its overall valuation substantially. This possible increase in the Company's overall valuation may be accomplished by using the positive cash flow to buy back the Company's common stock from the public float. There is no current plans to implement a stock buy back program, although one is intended over the long-term and will only be implemented based on the success of the foregoing and solely of the discretion of the Company's management and board of directors.
In addition to the above we plan we plan to invite direct investments into the Company to provide funds for general corporate purposes.
CAPITAL REQUIREMENTS
We believe that the first acquisition or development of an entertainment establishment will require approximately a minimum of $500,000 for the transaction, plus approximately $100,000 in legal, accounting and administrative expenses. In addition our first acquisition or development will require a minimum of another $400,000 for working capital and general corporate purposes. This is a minimum total of approximately $1,000,000 that will be required in the next quarter during which we are hoping to make the first acquisition or development. In the following 3 months, we plan to execute one or two additional acquisitions or developments. We believe that the cost of a second and third acquisition or development project will be approximately a minimum of $1,000,000 each and that approximately another $500,000 minimum each will be required for the same purposes as listed above for the first acquisition or development and for working capital and general corporate purposes. Thus, we anticipate needing a minimum of $4,000,000 of investment capital during the next six months.
After the first two acquisitions or development projects, we intend to develop other entertainment establishments from initial build-out rather than from acquisitions. Our plan is to open two additional entertainment establishments by the end of 2004 and we anticipate that additional funding (approximately $1,000,000) will be required to accomplish this. Management anticipates that funding requirements for this plan will be less than the overall cost of opening these nightclubs, since the revenues from the first two or three nightclubs is expected to generate enough positive cash flow to reduce the level of external capital required. We have developed comprehensive business and financial plans that result in our development of a network of entertainment establishments that should operate on a cash positive basis and hopefully without incurring substantial dilution to stockholders such that the Company can possibly increase its overall valuation substantially. The Company believes it will require approximately $1,000,000 to grow its live events business unit, including the cost of acquisitions or development and their subsequent integration and for the venture development of other potential lines of business for 2004. The total additional working capital financing described in this section is planned to also include the development of other synergistic business units such as, including but not limited to, membership services, brand licensing and merchandising.
CAPITAL ACQUIRING PLANS
Management plans on initiating a series of securities offerings to raise the investment capital needed to meet our acquisition and development plans. Although we will make efforts to minimize dilution to current shareholders, we may not be able to avoid significant dilution due to many factors, including but not limited to, the closing of financing at lower than the desired market price of the Company's common stock.
LIVESTAR hopes to secure the financing to satisfy the capital needs for each phase of its implementation plan through the execution of various funding methods, primarily financing through its Future Development Financing Strategy, private placement investments or debt financing. LIVESTAR hopes to achieve this by securing relationships with accredited individual investors, investment bankers, venture capitalists, and/or finance investment advisors that have the experience and relationships to aid LIVESTAR with its capital raising efforts. The source of the capital may be comprised of a mix of principal shareholders, private investors and venture capital companies.
If needed capital investment for our acquisitions or developments is not available, in whole or in part, we intend to delay the implementation plan regarding our acquisitions or development plans until sufficient investment capital becomes available. We cannot give any assurances that we will raise sufficient investment capital to meet the business plan. In addition to delays to the implementation plan regarding our acquisition or development plans due to insufficiency of investment capital, we may suffer other consequences, including but not limited to the following: We may have to significantly alter the scope and/or direction of our business plan and subsequent capital requirements; we may have to suspend or discontinue operations of one or more of our business units; or we may have to suspend or discontinue operations of the Company if we become insolvent as a result.
Until planned acquisitions (current and future) and new development establishments begin to produce significant revenues and subsequent positive cash flow, we will be reliant on capital received from private placements, loans, and the exercise of options and warrants. Due to the depressed market for our securities, we may not be able avoid significant dilution to current shareholders. In addition, we expect to continue to retain certain management, staff and consultants, such as legal counsel, and may need to compensate these individuals through the issuance of our common stock as compensation. These stock based compensations may result in significant dilution to current shareholders due to the depressed market for our securities. We also continue to reduce or prevent collection of outstanding vendor debts and accounts with creditors, such as suppliers and consultants, which could result in litigation against the Company. There can be no guarantee that all of these negotiations will be successful and the outcome of these negotiations may include settlements in cash and/or issuance of common stock. These stock based settlements may result in significant dilution to current shareholders due to the depressed market for our securities. We plan on continuing to meet certain of our expenses through the issuance of our shares of common stock, which may cause additional and significant dilution to existing shareholders due to the depressed market for our securities.
LSTA...Form 10QSB for LIVESTAR ENTERTAINMENT GROUP INC
--------------------------------------------------------------------------------
23-Aug-2004
Quarterly Report
Item 2. Management's Discussion and Analysis or Plan of Operations Forward Looking Statements
Except for the historical information and discussions contained herein, statements contained in this Form 10-QSB may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially, including any projections of earnings, revenues, or other financial items; any statements of the plans, strategies, and objectives of management for future operation; any statements concerning proposed new products, services, or developments, any statements regarding future economic conditions or performance, statements of belief, statements of assumptions underlying any of the foregoing and other risks, uncertainties and factors discussed elsewhere in this Form 10-QSB or in the Company's other filings with the Securities and Exchange Commission.
RESULTS OF OPERATIONS
FOR THE SIX MONTH PERIOD ENDED JUNE 30, 2004
For the six-month period ended June 30, 2004, the Company earned revenues of $171,319. The revenues were related to ticket sales from three (3) concert productions through the Company's live events business, and from beverage sales and entry fees from the Company's venues business.
During the six month period ended June 30, 2004, the Company incurred operational expenses of $1,415,999. These operating expenses included: business development & consulting fees of $788,196, wages and benefits of $ 268,267, and professional fees of $118,527 for the six month period ending June 30, 2004. The company continues to incur significant consulting costs, which includes business development, in its effort to realize its business strategy and its business plan.
During the six month period ended June 30, 2004, the Company incurred a net loss from operations of $1,244,680.
FOR THE THREE MONTH PERIOD ENDED JUNE 30, 2004, COMPARED TO THE THREE
MONTH PERIOD ENDED JUNE 30, 2003.
For the three month period ended June 30, 2004, the Company earned revenues of $ 113,219 as compared to revenues of $502 for the same period ended June 30, 2003. The revenues in 2004 are realized from continued efforts in our Live Events business that began in 2003, and our Venues business in 2004.
For the three month period ended June 30, 2004, the Company incurred operational expenses of $1,084,605, as compared to $237,398 during the same period in 2003. These operating expenses included: consulting fees and business development expenses $683,756 and $179,184; wages & benefits of $150,309 and $0, and professional fees of $81,450 and $24,585 for the three month period ended June 30, 2004, and 2003, respectively. The increase in expenses from June 30, 2004 as compared to the same period in 2003 is due to the increased level of business and operating activities in the Company.
The Company incurred a net loss from operations of $971,386 for the fiscal quarter ended June 30, 2004, as compared to $236,896 for the same period in 2003.
Liquidity and Financial Condition As Of June 30, 2004
We had cash-on hand of totaling $0 as of June 30, 2004.
Current Development Finance Strategy:
In order to finance the first and second acquisition or development establishments the Company may use its preferred or common stock to finance the acquisition or development or to raise the necessary capital for acquisition or development.
Future Development Financing Strategy:
In the future, we hope to fund the majority of our new establishment locations through the selling of a minority interest in the new establishments through the sale of up to 49% of the equity or through limited partnerships. This minority interest is hoped to be sold to either individual investors who wish to invest directly into an establishment or into a fund or partnership that will be funded by investors wishing to diversify their investment over a number of establishments that the fund or partnership may invest in. This proposed fund is planned to be formed by LIVESTAR exclusively for LIVESTAR establishments. The Company has begun the establishment of an internal corporate finance department and external network or syndicate of investment advisors, investment bankers and broker dealers that will raise capital via the direct investments strategy and/or form the fund or partnership that will raise capital through the fund or partnership strategy. This planned internal corporate finance department has commenced development through the recent formation of LIVESTAR Entertainment Capital Corporation. It is planned that investors under this strategy are planned to receive cash dividends and some capital stock or warrants in the Company.
In addition to the direct investment and fund or partnership strategy the Company hopes to raise capital for its new establishments through the forming of a real estate financing plan that is hoped to utilize real estate financing to fund the purchase of properties and subsequently secure construction financing to fund the renovations of the establishment.
We believe that this Future Development Financing Strategy will enable us to achieve our development goals with a hope over the long-term of reducing the potential dilution to our existing shareholders. By raising capital directly in each establishment through our planned Future Development Financing Strategy we may not have to dilute the existing shareholders to any great extent to grow the business. As our cash producing businesses grow due to the planned implementation and hopeful success of the Future Development Financing Strategy we plan to utilize the available cash to pay for operations without having to use stock to pay for large and important operational items item such as staff and consultants.
The result of this is that as our cash flow may grow as our dilution may slow. More specifically, we have developed comprehensive business and financial plans that result in our development of a network of entertainment establishments that should operate on a cash positive basis and without incurring substantial dilution to stockholders such that the Company can possibly increase its overall valuation substantially. This possible increase in the Company's overall valuation may be accomplished by using the positive cash flow to buy back the Company's common stock from the public float. There is no current plans to implement a stock buy back program, although one is intended over the long-term and will only be implemented based on the success of the foregoing and solely of the discretion of the Company's management and board of directors.
In addition to the above we plan we plan to invite direct investments into the Company to provide funds for general corporate purposes.
CAPITAL REQUIREMENTS
We believe that the first acquisition or development of an entertainment establishment will require approximately a minimum of $500,000 for the transaction, plus approximately $100,000 in legal, accounting and administrative expenses. In addition our first acquisition or development will require a minimum of another $400,000 for working capital and general corporate purposes. This is a minimum total of approximately $1,000,000 that will be required in the next quarter during which we are hoping to make the first acquisition or development. In the following 3 months, we plan to execute one or two additional acquisitions or developments. We believe that the cost of a second and third acquisition or development project will be approximately a minimum of $1,000,000 each and that approximately another $500,000 minimum each will be required for the same purposes as listed above for the first acquisition or development and for working capital and general corporate purposes. Thus, we anticipate needing a minimum of $4,000,000 of investment capital during the next six months.
After the first two acquisitions or development projects, we intend to develop other entertainment establishments from initial build-out rather than from acquisitions. Our plan is to open two additional entertainment establishments by the end of 2004 and we anticipate that additional funding (approximately $1,000,000) will be required to accomplish this. Management anticipates that funding requirements for this plan will be less than the overall cost of opening these nightclubs, since the revenues from the first two or three nightclubs is expected to generate enough positive cash flow to reduce the level of external capital required. We have developed comprehensive business and financial plans that result in our development of a network of entertainment establishments that should operate on a cash positive basis and hopefully without incurring substantial dilution to stockholders such that the Company can possibly increase its overall valuation substantially. The Company believes it will require approximately $1,000,000 to grow its live events business unit, including the cost of acquisitions or development and their subsequent integration and for the venture development of other potential lines of business for 2004. The total additional working capital financing described in this section is planned to also include the development of other synergistic business units such as, including but not limited to, membership services, brand licensing and merchandising.
CAPITAL ACQUIRING PLANS
Management plans on initiating a series of securities offerings to raise the investment capital needed to meet our acquisition and development plans. Although we will make efforts to minimize dilution to current shareholders, we may not be able to avoid significant dilution due to many factors, including but not limited to, the closing of financing at lower than the desired market price of the Company's common stock.
LIVESTAR hopes to secure the financing to satisfy the capital needs for each phase of its implementation plan through the execution of various funding methods, primarily financing through its Future Development Financing Strategy, private placement investments or debt financing. LIVESTAR hopes to achieve this by securing relationships with accredited individual investors, investment bankers, venture capitalists, and/or finance investment advisors that have the experience and relationships to aid LIVESTAR with its capital raising efforts. The source of the capital may be comprised of a mix of principal shareholders, private investors and venture capital companies.
If needed capital investment for our acquisitions or developments is not available, in whole or in part, we intend to delay the implementation plan regarding our acquisitions or development plans until sufficient investment capital becomes available. We cannot give any assurances that we will raise sufficient investment capital to meet the business plan. In addition to delays to the implementation plan regarding our acquisition or development plans due to insufficiency of investment capital, we may suffer other consequences, including but not limited to the following: We may have to significantly alter the scope and/or direction of our business plan and subsequent capital requirements; we may have to suspend or discontinue operations of one or more of our business units; or we may have to suspend or discontinue operations of the Company if we become insolvent as a result.
Until planned acquisitions (current and future) and new development establishments begin to produce significant revenues and subsequent positive cash flow, we will be reliant on capital received from private placements, loans, and the exercise of options and warrants. Due to the depressed market for our securities, we may not be able avoid significant dilution to current shareholders. In addition, we expect to continue to retain certain management, staff and consultants, such as legal counsel, and may need to compensate these individuals through the issuance of our common stock as compensation. These stock based compensations may result in significant dilution to current shareholders due to the depressed market for our securities. We also continue to reduce or prevent collection of outstanding vendor debts and accounts with creditors, such as suppliers and consultants, which could result in litigation against the Company. There can be no guarantee that all of these negotiations will be successful and the outcome of these negotiations may include settlements in cash and/or issuance of common stock. These stock based settlements may result in significant dilution to current shareholders due to the depressed market for our securities. We plan on continuing to meet certain of our expenses through the issuance of our shares of common stock, which may cause additional and significant dilution to existing shareholders due to the depressed market for our securities.
Another question for you once again in reguards to this R/S. Even though the shares get cut into bite sized pieces, does your overall money value stay the same or does that get sliced as well?
-Mash
Took all day, but they bought my worthless POS shares, What a joke, but I'm free!!!!
LSTA has a bid at .0001 with SCHB!
FFF, you mean GWAD or LSTA?
Well, yes on the former, no on the latter - had to bail @ .0001. As for GWAD, I was able to unload 2 fills of 500,000 @ .0002 Monday. I'll try to hold the rest till .0003, if their 10Q moves it (let's hope).
DEF 14C out for LSTA,
http://www.sec.gov/Archives/edgar/data/1088199/000110801704000476/ls14c.htm
Now try selling the shares above .0001. Any day now you can wake up to a 1000:1 Reverse Split without warning.
Comforting to say the least. Good luck.
MMs at bid are disappearing fast!
3x5
.0001/.0002
My sell has been in at .0002 for 2 weeks now and nada
DJ Quick, have you or anybody else been able to sell above .0001?
When MMs need to liquidate Billions of shares of stock, they will put trades in through Bid & Ask no matter what the level to do it.
You should at least see if you could sell if you wanted to. You would think it would be an important factor in a stock purchase.
Good luck.
FFF do I know you from RB or sumpin???
Really? Then why were there sells going through @ .0002 over the last 2 days? Look, I'm not saying anyone's gonna get rich off GWAD (excpet the CEO, of course!), but if their 10Q looks promising (and it couldn't possibly be worse than their last! And therefore will, comparabley speaking, look good) and they come out with some unexpected PR, then...? Word to the wise, don't be prejudiced against a stock that's burned a bunch of people you don't know and will never meet -- indeed, don't be so even if its burned YOU in the past! Another R/S won't be coming around for months now, and I simply don't see this trading @ ".0001/.0002" every day for the next 5 or 6 months (i.e., when I would expect their next split to take place). If you're in @ .0001/2 (certainly .0001) and you have a GTC @ .0003 (then do it over again with your profits), I think it highly unlikely not to make a buck on this.
DJ Quick, you can't get out above .0001. EOM
Good luck DJ, Some of these I just wont touch, Some go to the moon without me, but I still have ma brain intact, that's just me though!!!! haaaaaaaa
I certainly understand your sentiments...
...however, again, being in at .0001 (if you can get it) and back out before any more SEC shananigans, how can you possibly go wrong???
G-WAD Wont touch it, till they done diluting!!!!
What do you guys think of GWAD?
Yeah, yeah, I know the whole story on this one. Maybe I should rephrase that question. However, they are freshly POST-split (less than 2 months now) and now trading at .0001 (well, really at .0002). I guess their 10-Q etc. will be out before Monday, so... a possible run to the mid-.000's??? At any rate, w/no R/S, how can one screw up at .0001 (or even .0002)? And we all know that sometimes the best money can be made on the worst companies - it's all about your TIMING! Well, I'll be shooting for .0001 tomorrow just for sh!ts and giggles...
Psssssssssssst DaddyCool,
Come on over and vist me at the CMKX board!
TS!
On any R/S take the number you own and devide the Split number. I mil. shares will be 1000 after the R/S.
Now in reguards to this R/S that was just filed...I still would consider myself a little bit of a newbie. Say for example i am holding 1 million shares of LSTA. With this current reverse split, what would that bring my share vaule down to?
-Mash
p.s. I did also speak with the financial company which is handling livestars finances at the moment. The reason for the huge s-8 filing was indeed in reguards to paying for some new employees which they have hired. Currently they have increased their staff from about 7 people to around 12 and they are looking to hired a few more...in between 15 a 20 total. Also, the reverse split which indeed comes as a dissapointment to all of us is for the better in the CEO's long term plans. OF course we are all dissapointed in this company but in my opinion after we get all this crap settled and taken care off, we may actually begin to see some real solid growth. As this market has been all summer, we're just gonna have to wait and find see
LIVESTAR Entertainment Group, Inc. Provides Corporate Update and Summarizes Increased Second Quarter Growth
Wednesday August 11, 8:00 am ET
LAS VEGAS, NV--(MARKET WIRE)--Aug 11, 2004 -- Today, LIVESTAR Entertainment Group, Inc. ("LIVESTAR" or the "Company") (OTC BB:LSTA.OB - News) is providing a general corporate update including a summary for the increased second quarter growth in revenues realized by the Company and the potential for improved third and fourth quarter revenues.
LIVESTAR acknowledges that second quarter revenues have exceeded the first quarter revenues. LIVESTAR has made some strategic developments that have poised the Company to steadily increase their revenues for the balance of the fiscal year. The resulting second quarter revenues will be reflected in the next Quarterly Report (10QSB) for the period ending June 30, 2004, which is planned to be filed timely with the Securities and Exchange Commission.
LIVESTAR has continued to diligently execute their business plan, and is working to complete certain current establishment transactions. LIVESTAR feels it is warranted to point out their steadfast dedication to their business plan now that they have made noteworthy developmental steps, (i.e. The Sequel, Manhattan, and Elm Street establishments) towards the Company's business strategy as a live entertainment venture development and holding company. LIVESTAR is focusing its immediate efforts on building a network of licensed entertainment establishments and a live events business. LIVESTAR operates Sequel under a business lease arrangement; Elm Street is an under development majority owned Joint Venture establishment and Manhattan is a joint venture development project where LIVESTAR has retained certain rights. (See previous Company press releases for more details on Livestar establishment transactions).
Renovations for the Elm Street Establishment (31 Elm Street at Yonge, Toronto, Ontario) are progressing well. The grand opening is planned for this fall. LIVESTAR is excited to see the venue eventually evolve into a revenue generating LIVESTAR establishment. The Sequel establishment's revenues from operations will be reflected in the upcoming Quarterly (10QSB) Report. Photos of The Sequel's décor are now available online at: http://www.livestar.net/gallerys/sequel/.
LIVESTAR feels it has, during the first two quarters, developed proven sources of revenue from the Live Events division. The Live Events team is currently preparing to produce numerous events for the upcoming fall season which management believes may translate into revenues and earnings. This division plans to continue to service the target 18-35 year old market with dynamic live entertainment ranging from concerts, festivals and special events to fashion shows and contests.
The Company's new LIVESTAR Entertainment Capital Corporation has developed key relationships with real estate investors and investment banks to structure ongoing plans for securing funding for the development of additional LIVESTAR establishments.
Albeit an action that LIVESTAR has endeavored to avoid, a corporate action of executing a reverse split of its stock is currently underway. The management team in accordance with their advisors, have deemed it a necessary step in the continuation of the long term execution of its business plan.
The Company was notified that its common stock was trading on the Berlin Stock Exchange under the symbol LEP (www.berlinerboerse.de/index.html?LANG=en&debug=) without management's prior knowledge or authorization. A market maker in Germany is able to initiate a listing on the Berlin Stock Exchange without the Company's knowledge or authorization. The listing on the Berlin Stock Exchange may have had a negative impact on the price per share of LIVESTAR's common stock. LIVESTAR believes market makers in Germany may be trying to avoid U.S. regulations and engage in a practice called "naked short selling," that involves the selling of non-existent shares, which can drive down the price of an issuer's shares. LIVESTAR has since instructed the initial sponsoring market maker to cease and desist trading.
In closing, as stated previously, LIVESTAR'S commitment to a long term plan requires a long-term time horizon from its shareholders. The Company is committed to its strategy and will endeavor to successfully execute its business plans over time.
About LIVESTAR Entertainment Group, Inc.
The core business of LIVESTAR Entertainment Group, Inc. is the development of entertainment entities, specifically; Liquor Licensed Entertainment Establishments (namely nightclubs and lounges) and Live Entertainment (concerts and special events).
Statements contained herein that are not based on historical fact are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. LIVESTAR Entertainment Group, Inc intends that such forward-looking statements be subject to the safe harbor created thereby. Such forward-looking statements are based on current assumptions but involve known and unknown risks and uncertainties that may cause LIVESTAR Entertainment Group, Inc.'s actual results, performance or achievements to differ materially from current expectations. These risks include economic, competitive, governmental, technological and other factors discussed in LIVESTAR Entertainment Group, Inc.'s applicable public filings on record with the Securities and Exchange Commission which can be viewed at its website at http://www.sec.gov.
Please visit our website: www.LIVESTAR.net.
Contact:
For more information please contact:
Loyola Financial Shareholder Communications
Phone: 619-209-6068
investors@LIVESTAR.net
http://www.loyolafinancial.com
--------------------------------------------------------------------------------
Source: LIVESTAR Entertainment Group, Inc.
daddycool 1000:1 RS was recently announced: http://www.investorshub.com/boards/read_msg.asp?message_id=3752776
what R/S? please post info..tia
It should be around mid Sept. -- 20 days after the proxy is sent out, which'll be around Aug. 16th... Let's just hope their 10Q (also mid Aug.) gives us a bounce (sure as hell couldn't hurt at this point!)
Do you guys know the actual date when the RS will occur? tia. eom
A bunch of lying, scamming POS Shawn!!!!! The new rules put into place by our gumpies, and things have taken a mega turn for the worse!!!!! What will these POS companies and CEO's do if no one trades their chit stock????? It isn't making much sense right now!!!
Dilute, dilute, dilute, polute, polute, polute, sell it out and reverse it hard...seems to be the order of the day.
Had one KTSI thought it had a decent O/S of 50 million they just did a 1:500 on me now the stock sits .15 x 15.00 is that looking out for shareholders...NOT in the least.
AND speaking of CEO's I owned one, sold made out really well from .06 to .72 then he rolled his baseballs cards into the company and took stock worth about $500,000 that had to be the silliest thing I ever heard. Now is this guy looking out for investors?
Cheers
SEC suggested I write these folks about this chit!!!! God knows they/sec dont give a rats A$$
Thank you for contacting the U.S. Department of Labor!
Your question/comment has been forwarded for response.
http://www.dol.gov/cgi-bin/contactus.asp
I was at the SEC website ,and they suggested I contact you! I have wrote the sec several times on the dirty dealings of OTC BB comapnies with the RS, S-8 of shares , increasing AS to billions, Then RS when they say they wont. I feel this is criminal, and lots of investors are loosing their $$$ to these scams they are allowed to do. SEC just don't seem to care about what goes on on the smallcap/OTCBB boards, but this is where the MMM Market maker manipulation, and scams these companies play a lot!!!
This is the most recent case,
LSTA, Livestar Entertainment Group Inc. They just issued a 6 billion S-8 Now a few weeks later a Reverse split is announced!!
CALCULATION OF REGISTRATION FEE
---------------------------------------------------------------------------------------------------
Proposed maximum
Title of securities to Amount to be Proposed offering aggregate offering Amount of
be registered registered price per share (1) price registration fee
---------------------- ------------- -------------------- ------------------- -----------------
Options to Purchase
Common Stock, 5,000,000,000 $ 0.0002 (2) $ 1,000,000 $ 126.70
Common Shares
Underlying Options
---------------------- ------------- -------------------- ------------------- -----------------
Common Stock 1,000,000,000 $ 0.0002 (3) $ 200,000 $ 25.34
---------------------- ------------- -------------------- ------------------- -----------------
Total 6,000,000,000 $ 1,200,000 $ 152.04
---------------------------------------------------------------------------------------------------
<FN>
(1) The Offering Price is used solely for purposes of estimating the registration fee pursuant to
Rule 457(h) promulgated pursuant to the Securities Act of 1933.
(2) This Offering Price per Share is established pursuant to the option exercise price set forth
in the Employee Stock Incentive Plan for the Year 2004 No. 5, set forth in Exhibit 4.1 to this
Form S-8.
(3) This Offering Price per Share is established pursuant to the Non-Employee Directors and
Consultants Retainer Stock Plan for the Year 2004 No. 2, set forth in Exhibit 4.2 to this
Form S-8.
http://knobias.tenkwizard.com/filing.php?repo=tenk&ipage=2916825&doc=1&total=&back=2....
And Just yesterday they announce the RS
The action to be effective twenty days after the mailing of this Information Statement is as follows:
The approval of a reverse stock split of the Company’s Common Stock so that for up to each thousand (1,000) shares of the Company’s Common and Preferred Stock ($0.0001 par value) that were issued and outstanding as of _________, 2004 (the “Record Date”), all said shares are to be converted into one (1) share of the Company’s Common and Preferred Stock with all fractional shares rounded up to the next whole share (the “Reverse Split”) except that the Reverse Split shall not affect the shareholdings of those shareholders holding one hundred (100) or fewer shares of record as of the Record Date.
http://knobias.tenkwizard.com/filing.php?repo=tenk&ipage=2929421&doc=1&total=&back=2....
While all the while, LSTA had all us investors believeing, NO RS!!!
As we continue our efforts towards future success, and although we feel it is only prudent that we periodically review our business plan regarding its effectiveness, we are committed to the long term execution of our business plan, hope our shareholders also use long term thinking and with that said, we feel it is important to notify our shareholders that we have no plans for a reverse split of the Company’s common stock”.
http://www.livestar.net/news/05_11_04.html
I dont know who else to turn too!!!!! If this is out of line for you folks, would you please forward this to someone who can help?????
Thank you very much, This must stop, before there is no Markets!! Rick xxxxxxxxx
"" start a real business and generate real revenues in order to attract investors"" wonder if these pos can fathom , just what that involves!!!!!
That is less than 3 months, surely that has to actionable if someone wanted to pursue it.
The edge that the avg investor is left with is the sharp side that cuts you every time you get near it
They may actually have to start a real business and generate real revenues in order to attract investors...what a novel idea huh? These POS pennies are out of control.
Back in May-- CEO statement.
Ray Hawkins CEO of Livestar stated: "We are pleased with the buzz surrounding our shows on the West Coast, including the upcoming 'Exposure Series' featuring Hernan Cattaneo and look forward to the tickets sales adding to our revenue base. These shows are the early steps to building a solid business in the Live Entertainment industry, a business that we feel we will make successful over time. As we continue our efforts towards future success, and although we feel it is only prudent that we periodically review our business plan regarding its effectiveness, we are committed to the long term execution of our business plan, hope our shareholders also use long term thinking and with that said, we feel it is important to notify our shareholders that we have no plans for a reverse split of the Company's common stock."
indeed, indeed ... lol
details, details...lol
Of course the other problem is finding a stock with enough volume that you can get in and out the same day and still make a worthwhile modest profit.
it would appear the only edge we have is to be quick. Holding anything overnight seems to be the kiss of death.
Totally agree Churak! There used to be a slim chance for the quick and smart traders, but now when all rules are broken and the MMs and CEOs hold all the cards, you have to wonder what edge we have left to trade with ...
All stocks are chit...and we have no chance. People that are on the sidelines in cash are the smart ones IMHO.
Sad but true, OU.
Unbelievable! Is this the company that kept insisting that there were no imminent splits coming? Is this the company that has so much upside left between outstanding and authorized that you do not expect a split to be soon?
When guys like Shawn give up on this market, you have to wonder what is left for less experienced and savvy players (I of course include myself in that number).
So should I try to get out at .0002? I suppose .0003+ is out of the question at this point. Or should I wait for (overdue) news and their 10-Q (out mid August)? Is there absolutely no hope now? I swear, this scum bag needs to catch a bad one!
F&*(KING POS, I may do what Shawn is doing, These POS companies and the friggin MOnkeys are killing the markets, WTF are these pos companies going to do when no o0ne buys their chit anymore!!!!!!!!!!!!!!!!!!!!!!!!!
WTF!!!!!!!!!!!!!!!!!!!!!!!!!!!!! Bullchit, Check out Toshacs last post on Ihub tonight, i think he sums it up pretty well!!!
Posted by: ToshacH
In reply to: None Date:8/6/2004 8:23:41 PM
Post #of 19131
Well I am out, out of the penny market. Hanging up my trading hat, at least for now. I have been through it all in my trading life seen the ups and the downs. Every time on the down I would re-load, however this time I just don't have the faith.
When I started the pennies there were over 6000 stocks to choose, now a days with turds going pink right and left we are a hair above 1000 OTC stocks to choose from. I think maybe the OTC, may have a heck of a time coming back from this one.
Tired of the Market Magot Manipulation, all the reverse splits, no liquidity, S8's, SB2's, bashers, failing to file, the E, pumpers and crooks, lying CEO's ETC. It's just not worth it to me anymore. You have to stay on top of these turds so closly that it aint worth my time. Seems the runs these pennies had are far removed and trading for small gains...well it just doesn't make sense. Too many pitfalls to worry about.
I recently sold my business, and I don't need to worry about money. So I am going to take it easy, kick back. Trade some Oil and Gas Trusts and REITS, bluechip, bonds and debentures etc.
The last few years have been fun at the ol' iHub and I met lots real nice people. I want to wish everyone nothing but huge profits. I will check in to say hi from time to time, and if I am wrong and this market really comes back to life, you know I will be back.
All the Best,
Shawn
Thanks EZ for everything, please remove me from Assistant
What a lousey thing to do. It makes absolutely NO sense....
http://www.nasdaq.com/asp/quotes_sec.asp?symbol=LSTA&selected=LSTA
WE ARE NOT ASKING YOU FOR A PROXYAND
YOU ARE REQUESTED NOT TO SEND US A PROXY
The action to be effective twenty days after the mailing of this Information Statement is as follows:
The approval of a reverse stock split of the Company’s Common Stock so that for up to each thousand (1,000) shares of the Company’s Common and Preferred Stock ($0.0001 par value) that were issued and outstanding as of _________, 2004 (the “Record Date”), all said shares are to be converted into one (1) share of the Company’s Common and Preferred Stock with all fractional shares rounded up to the next whole share (the “Reverse Split”) except that the Reverse Split shall not affect the shareholdings of those shareholders holding one hundred (100) or fewer shares of record as of the Record Date.
I encourage you to read the Information Statement thoroughly, but you need not take any action at this time. No vote will take place because all required stockholder approvals have been obtained.
Thank you for your continued interest in and support of Livestar Entertainment Group, Inc.
Sincerely,
/s/ “Ray A. Hawkins”
Ray A. Hawkins, PresidentAugust
6, 2004
Livestar Entertainment Group Incorporated (OTC: LSTA) doubled their share price yesterday going from $ 0.0001 to $0.0002 with over seven times the average trading volume. The company announced last month that it has completed a Joint Venture Agreement to develop its next liquor licensed entertainment establishment in Toronto, Ontario with the working name of Elm Street. Elm Street is planned to open as early as possible this fall to begin generating revenues for LlVESTAR.
yes, much better said
lololol The curse of the misused S-8.
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