Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
a little bit of MJET DD..
just some observations:
http://www.ddmachine.com/forum/topic.asp?TOPIC_ID=5
Settle guys, everything is OK,
Tomorrow holds better things, always.
You entered this stock on what? (speculation) and some of us are doing ok. So the pullback will teach us all something, will it not? For some, they bailed. For others, they added.
We all need to start reading charts, doing our own DD, and certainly holding (your) own. If you are uneasy, sell.
FYI...CYPC, MMLC, WWCO are a list of other (shell) stocks out there. It's very tough to read between the lines guys, so make sure you do your DD.
Monaco
Double,sorry...EOM
goose...
something wrong with placing a phone call and posting about it within 4 hours? I see no issue with it. Why don't you try calling and see what kind of results you get instead of questioning someone elses results.
Think:
1. It's west coast time
2. After business hours? You must work for a bank. For most there is no after business hours, especially with the Antik operation. They cannot keep up with demand. Do you think they look at their watches at 5pm and say, "oh well, it's 5pm Friday, see everyone Monday morning?"
can someone please call out kickyourace (ragingbull) on his lies. on friday he asks for antik's phone number. at 5:30 he receives it. he then posts at 10:00 that he talked to the president, who revealed that everything appears to be hunky-dory. why would the president of antik, whom he doesn't even mention by name, spend time after business hours on friday talking about the probability of a merger that is apparently unrealized? i would confront him if i didn't have problems logging on to ragingbull's site.
Looks like this is the Los Angeles store for Antik, and all the other brands of jeans Paul Guez produces. Look at the last jean company: Elvis Presley Clothing Co.
http://www.newmart.net/SearchResult.asp?Type=ALL&String=&CompanyID=284&CategoryID=7
Monaco
icde, you may want to consider removing http://www.apparelnews.net/Archive/051101/News/news.html from the above synopsis of antik/mjet. while the article does discuss guez, the article focuses on azteca, which is an innovo (inno.ob) owned brand. i think it is worthy consideration for those who considering buying shares of mjet, as both lines of jeans are from the same guy and may point to a similar direction for mjet (if the reverse merger goes through). however, it worries me that prospective shareholders may not notice that azteca is not a brand of antik, and, therefore, possibly mjet. of course, you initiated and run this board; you will do what you want. i'm just glad that you started this board.
sorry goose... not ment as that definition.
just ment on people taking profits...
personally i don;t have that much in stake... only a few thousand shares. i could see how people would get worried...
I think Antik has a lot to offer... if not in the jeans in the elvis denim spinoff...
best of luck
-J
so you're not saying that you thought friday was going to be the result of a pump-n-dump, right? a pump-n-dump is completely different than taking profits.
from dictionary.com:
pump and dump
Market manipulation in which a thinly traded stock is accumulated, promoted, and subsequently sold at an artificially high price to unsuspecting investors. Internet chat rooms where investors gather investment information from unknown parties facilitate this illegal practice.
sorry wasn't a prediction... just an explination on the drop.
not that its fake... that people are taking their profits... or at least part.
so you think that ckxe (epe and, therefore, sillerman), guez, and antik are confederates in a pump-n-dump?
rolcentral, please explain why you think keating runs a tight ship. i have researched keating and have yet to find a company that has excelled since the reverse merger fund had been involved. thanks.
"I have a feeling today will be our pump-n-dump day."
so you think that this stock is a charade, or do you think that people were going to sell to take profit today? also, considering that by the time that you posted the prediction, the stock had already plummeted to about 40 cents.
Congrats on getting in Goose,
I realize that some are waiting for the offical announcement from management that it's a go. Actually this is probably how these morphed stocks bloom (via apprehension). Frankly, I feel it is a foregone conclusion. I see most obstacles handled by (being the two parties) which is to say; there are not many better merger companies (Keating) combined with the talent(Paul Guez)along with the association with (Sillerman / Elvis).
As far as dilution, I expect some. In my prior post where I drew up a potential scenario of sales and EPS numbers. I estimated that there would be at least 30 mil shares before the first 10-Q hits. I used very conservative numbers, and still came up with a share price of $9.00 with a PE in the 20's. Mere speculation, of course. I should add, that my wife owns several pairs of Antik Jeans, thus my passion in this particular stock, and it's success with my ability to pay for more. After all, they are only jeans right? Look at what another MJET poster brought to my attention:
True Religon TRLG just came out with earnings as I wrote this.
Also check AEOS American Eagle Outfitters...
>>>Take CKXE (SPEA) for example. EPE (aka Elvis) had worth before they left the gate. Name appeal. Antik has this too. To what degree is determined by the buyer. Do a simple search on Google of Antik Jeans and you will see this transcends just jeans, it's an enterprise consisting of many facets.
We are looking at clean canvas with Antik. Coupled with the fact that INNO is not Guez's company (his baby). He has interests in INNO (and selling his position out to fund his own enterprise, as we speak, look at the insider selling).
Beware, I am not trashing INNO, but merely comparing the two.
Speculation IS the stock market. We are all speculating on MJET. Do your own DD.
Monaco
rolcentral,
yeah, atleast i got in. it's better to arrive let to a great party than not at all, right?
spea was bittersweet for me. i had no available funds to throw into the company, but that is not the reason why it was tough for me to watch. i worked at a private club where sillerman is a member, and i wished i asked him if he had anything in the hopper... even though he would have likely said nothing (for obvious reason) if he had.
here's an excerpt from message #901 (3/8/05) on the caredecision board:
---
in december i mentioned that last year i worked at a golf club in the hamptons where sillerman (spea/ckxe) is a member. it never occurred to me to ask him if he had anything on the horizon, considering that he was "retired." it likely would have been inappropriate if i had asked under the wrong circumstances. nonetheless, i nearly cried when i saw the stock rocket. i had no money to invest, so i just watched the green numbers get bigger and bigger and bigger. the man is a marketing genius, which is partly why i think that the current price of $16.75 is a bargain. with a market cap of just over $70 million, i don't think that a double bagger in the next year is out of the question. in fact, you could see the stock triple without a problem. sillerman can turn a dime into a dollar, and he has the panache, pull, and savvy to accomplish some amazing stuff. it should also be noted that he is a member of a golf club where there are several members who are in the media industry. i won't mention specific names, but one member is the publisher/editor/chairman of a couple connoisseur magazines, another is the manager of a media investment fund, another was the head of a (maybe THE) major rap/r&b label before leaving to become the chairman & ceo of u.s. recorded music for one of the 2 or 3 largest music publishing outfits, and another member who is the ceo of the largest independently owned and operated radio network in america.
i must admit, though, that i have absolutely no evidence that states that the other members of the club who are in the media domain have formed a partnership or even a friendship with sillerman. all i do know is that the club has an inordinate amount of media-related powerbrokers. sillerman does not do anything on a small scale. he is not looking to be silent. sillerman almost single-handedly created the field of cross-marketing goods and services with concerts, which in turn deepened his pockets and the artists' pockets at the expense of the concertgoers pockets.
anyway, i'm not saying that one should buy ckxe stock, but i am saying that there are worse investments.
---
again, i'm not a financial guy. i'm young and learning... slowly. what piques my interest in mjet are the names: sillerman, guez, and elvis. if sillerman is on board with this (again, i'd think he'd have to be if the deal was made in october), i have little doubt that mjet will go through the roof, providing that the merger is carried out. i look at inno and recognize that the company has a market cap of $150 million, which appeals to me greatly because mjet is projected to have similar sales figures and a similar outstanding share count (mjet: 21 million; inno: 30 million; mjet's will likely grow due to some dilution, right?). right now, innovo, another guez business, is a $5. as long as the merger is carried out, the sky looks blue for mjet.
ROLCENTRAL - excellent, good to hear about Keating Reverse Merger Fund. i will do some more DD on them.
the comment was to remind people that it is speculative (but looking very good right now). I've been a watcher for quite awhile on investorshub and sometimes things get carried away.
Enjoy the run! :)
Jason
LFMAO, Goose! Glad you got in...nice .40-60 run for you.
The main reason, I believe, for the runup is:
A: The potential merger
B: The fact that Paul Guez is involed (huge potential)
C: The float: my estimate is less than 4 million
D: The quality of the shell company (perfectly organized, imo)
E: Public knowledge of all of the above (via DD and, yes Trader's Nation)
F: No surprised from the 10KSB released today
G: Can I say "The Elvis Factor"?
Take it for what it's worth, with a 4 mil float and 3.6 million shares traded today, it is being flipped, no doubt. The MM's shook the tree real hard today in the .36 range, and people sold. Then they bought again. Such is life.
If you really want to see the footprint of a merger like this, go research SPEA. Go to www.shellstockreview and navigate the site to find "The anatomy of a merger" and look at what happens.
SPEA was a huge exception to the rule, mind you. It went from .10 to $26 in weeks. But it shows what can happen if the merging company and the shell have what it takes. The merging company has to have a product that will sell, and be profitable. The shell needs to handle things properly so that the existing shareholders (you and I) don't jump ship.
I have heard of mergers where the newly formed company totally rips the exisiting shareholder. Which is why I think Keating is one of the important factors here, and I encourage you to do some DD on Keating. Most importantly, I can't predict the future but, IMO I think this one has legs.
Good trading,
Monaco
Yes of course Icde, the merger has to take place. But usually a merger like this fails because the shell is unkempt; bad books, etc. But I have done some DD on Keating Reverse Merger Fund, and they run a pretty tight ship. Another reason is the buyer is not worthy; financially for example. Paul Guez is loaded, so no issue there.
Good Trading,
Monaco
after seeing a 100% gain one day, 175% gain the next, and so far 40% today, it is nice not seeing a bunch of people run away with already realized profits. unfortunately for me, though, i was able to scrounge up some money today and not yesterday or the day before. there is just a little bit of difference between getting in at ten cents instead of forty. ;o)
what specifically do you attribute to the rise in pps to, rolcentral? of course, the overall reason is the possible merger with antik. do you suspect, though, that the primary reason for the increase was the tradersnation segment? i wish i knew what was said during the segment.
Goose,
That paragraph was in the last 10-Q when Keating
Fund aquired MJET. The actual agreement with Antik will
be released when and if agreed upon. The below paragraphs are new as of today.
I believe the 3.8% they refer to below, is the percentage
of stock being trade out there right now. The float. Because
the balance of the 28mil OS is probably tied up in escrow.
If anyone can confirm this, please do.
"On March 24, 2005, the Company entered into a Letter of Intent to acquire Antik Denim, LLC, a California limited liability company ("Antik"). Antik is a designer of highly-detailed antiquated and vintage denim and related apparel with an Old West flair. Antik currently sells its products through showrooms located in New York and Los Angeles as well as fine retail stores located in Japan and the European Union. The Company was established in September 2004 and is headquartered in Commerce, California.
Under the transactions contemplated under the Letter of Intent, the Company will acquire all of the outstanding membership interests in Antik from Antik's existing members ("Antik Members"). In the exchange, the Company will issue shares of its common stock to Antik Members in such amount so that, immediately after giving effect to the acquisition, the Antik Members will own in the aggregate 95.8% of the Company's issued and outstanding shares of common stock on a fully diluted basis. After the payment of certain transaction related fees (including the issuance of the Company's common stock to certain finders and advisors), the current stockholders of the Company are expected to own approximately 3.8% of the issued and outstanding common stock after completion of the transaction with Antik.
Completion of the acquisition is subject to the negotiation and execution of a definitive acquisition agreement, the delivery of financial statements of Antik prepared in accordance with generally accepted accounting principles in the United States of America, and the approval by Antik's board and stockholders of the acquisition, a corporate name change, an increase in the Company's authorized common stock and a reverse stock split to be mutually determined. There can be no assurances that these conditions will be satisfied or that the acquisition will be completed."
10ksb out
notably,
Our plan of operation is to seek a target company with which to merge or to complete a business combination. In any transaction, we will be the surviving entity, and our stockholders will retain a percentage ownership interest in the post-transaction company. The amount of the retained equity ownership by our stockholders will be negotiated by our management and the target company. We may also be required to pay cash and/or equity fees to third parties that advise us in connection with the merger or business combination, commonly refereed to as a reverse merger. These third party advisors may include certain affiliates of ours and their affiliated entities.
tradersnation: does anyone know what was said about mjet on the 3/29/05 tradersnation show? i can't believe, and hope, that all or most of the stock movement since the show (last hour of tuesday's trading) is attributable to the show.
Intellijet is history as a public company, the security that once used to be Intellijet IS NOW Antik Denim, LLC.
Just to note:
if the reverse merger goes through 2005Q2.
The MJET shares you own are yours. They are shares of MJET not Intellijet. MJET was a shell company and is being reverse merged with Antik. Your MJET shares will probably be converted (once the name and ticker changes, which is normal) into whatever ticker they choose. DO NOT SELL YOUR SHARES if you want to participate in this climb.
Intellijet is history as a public company, the security that once used to be Intellijet IS NOW Antik Denim, LLC.
I agree the letter was very confusing.
Monaco
Goose,
Excellent find. It was not until I did a search of D&B for the owner of Antik Denim, LLC, did I find that Paul Guez was the owner. Your further DD of the Elvis connection confirms my suspicion. The way I read the Azteca production numbers is:
The facility of manufacture, is owned by Paul Guez. Azteca (with his daughter), and he share this (500k/month) capacity. I also read that this production facility was placed a new 1 million square foot building. I can't remember the date of this move at the moment, but will continue to post any DD I find.
What's important about this is: They manufacture and sell thier own goods, which will increase the net profit of every pair they sell. As far as the numbers, it looks like they have a distinct advantage being the actual manufacturer and the net profit will have to be assumed at this point.
Let's just assume they do 30mil in revs the first year. Let's also assume they increase the float to 30mil. Assume they have a 50% profit margin (gross) less 25% of that in operating expenses, etc.
30mil revs minus 50% equals 15mil less 25% operating cost leaves 11.25mil divided by 30mil shares equals .375 cents per share EARNINGS. With a PE of ZERO the stock is worth .375 with a conservative PE of 25 the stock is priced at 9.37 per share. I think these figures and float are reasonable assumtions.
Comments welcome.
Monaco
i posted yesterday on the ckxe and spea boards, trying to get feedback on what i uncovered. i was happy to see an mjet board created. here are some of my thoughts (please read the whole post):
monaco posted: "500,000 units a week. Antik Jeans sell for around $250.00 a pair (do the math)." read my comments after the following to find out why i think this is not relevant to mjet.
according to a website that won't hypertext for me (google "guez," "elvis," and "antik;" go to wwd.com website):
**************************************************************
October 7, 2004
Blue Concepts’ Fresh Ideas
A co-founder (Paul Guez) of the Sasson jeans brand is rolling out the Antik and Taverniti So Jeans lines for early spring and has acquired the worldwide master apparel license from Elvis Presley Enterprises Inc., tapping into the craze for vintage rocker T-shirts and merchandise. Guez saw Sasson rocket to success in the late Seventies, but lost control of the brand after a bankruptcy proceeding in the late Eighties.
Shipping in November, jeans from Antik wholesale for $79 to $160. Overall, the brand is expected to fetch $10 million to $15 million in sales its first year, Guez said.
The Elvis project offers the greatest potential, Guez said. It allows access to more than 40,000 images of the cultural icon, who died in 1977. Guez is projecting sales of $20 million to $30 million in its first year.
“All of my designers want to contribute and do something with Elvis,” Guez said.
He plans to launch two lines for fall 2005: One for the moderate market, targeting souvenir stores and mid-tier chains, with wholesale prices of roughly $20 to $30 — and another that embraces vintage looks with lots of denim and leather, wholesaling for beyond $50.
************************************************************
what also interests me is the date of the article (it should be noted that i pared down the article to the parts i thought were most relevant): October 7, 2004. surely this date would not have been before sillerman and company finalized an agreement with the elvis enterprise; therefore, i have to imagine that the antik/elvis collaboration is fully endorsed and will be exploited by ckxe. sillerman is a master of marketing and commercial exploitation. why do you think you pay $250 for a concert ticket? why do you see budweiser paraphernalia everywhere at a concert?
monaco, you note that 500,000 units of azteca jeans are being produced each week; however, it should be realize that azteca is innovo group (inno.ob), and antik is now marine jet technology (mjet.ob). though owned and run by the guez family, they are two different companies but with similar products.
i'm wondering what the total amount in sales will be. the article i posted mentions two different products for sale: antik jeans, with an expected total of $10-15 million in sales, and elvis-themed items, with an expected total of $20-30 million in sales. unless i'm reading that wrong, each figure corresponds to a different source of revenue. without any other source of revenue, and if i interpreted correctly what guez said, he is expecting between $30-45 million in sales for the first year. also, there may be other revenue streams.
i'm not a financial guy, so i'm hoping that someone could help me in figuring out where this stock is going. with an anticipated base of $30-45 million in sales for the first year, 28 million outstanding shares (2/22/05 8k), and a current share price of .29, where do you see this stock going?
I understand the intrinsic value of the Antik jean line and what we'd ultimately gain if we're privy to the stockholder rights of the corporation that is selling the jean line. What I don't understand is if we as MJET holders will be holders of stock of the new company and all that comes with the Antik line or are new shares being issued and are we getting liquidated at a set price or having our shares reversed from say 10 to 1 of the new Antik stock (ex.will my 10,000 share of MJET now be converted to 1000 shares of ANTK--ex.stock name) or is MJET/Inteljet staying on and we're stuck with the rights to their future enterprise while ANTK spins off? (other scenarios, etc.) Please answer if you know what the plan is or may be as I am only vaguely familiar with reverse mergers and this one seems somewhat ambiguous. TIA
DD on Antik Jeans, LLC
Paul Guez (owner of Antik Jeans, LLC):
Paul Guez as you know was the founder of Sassoon Jeans
back in the 80's. He is also a major shareholder in INNO.
INNO chart:
http://finance.yahoo.com/q/bc?s=INNO&t=my
As you see from this chart, Notice the massive uptick
similar to the phase MJET is in now.
A link to INNO's annual report Feb 2005. Read about Paul Guez and his involvement with INNO.
http://biz.yahoo.com/e/050225/inno10-k.html
<<<<<<<<<
I found this link about a Elvis promotion in London in 2004. When I read the paragraph below I had visions of a SPEA like rise in MJET: (EPE is Elvis Presley Enterprises)
"EPE and its first master licensee will launch a line of clothing and apparel in 2005. The line, designed by Paul Guez, the founder of Sasson Jeans, will be geared toward young, contemporary men and women. EPE has given CBS, a unit of Viacom the green light for two Elvis specials next year, one of which is a biopic. It authorized Broadway producer Jonathan Pollard to do All Shook Up, a musical based on Elvis' music, next year. This past summer, EPE let Miller Brewing feature an Elvis cover from Rolling Stone magazine on millions of beer cans."
http://girlsguidetoelvis.com/elshowupinlo.html
Another link to another Elvis/EPE tie to Paul Guez:
http://www.memphissymphony.org/elvis.html
If I read this correctly, it looks like Paul Guez is the first major licensee of EPE (the former SPEA or CKXE).
Have you noticed Lisa Marie has been on Howard Stern and Oprah, etc. after a long absence from the public eye??
Interesting.
<<<<<<<<<<<<
This is a link mentioning Uzan International, but if you scroll down, it mentions another line of jeans Paul Guez had launched (partnership) and tells of the nunber of units being produced.
"Mr. Guez is currently launching hippie jeans, his Azteca jeans is producing 500,000 units per week. Roger was Vice President of Paul's original wildly successful foray into the jean market the indelible Sassoon Jean label."
500,000 units a week. Antik Jeans sell for around $250.00 a pair (do the math).
http://fasarchitects.tripod.com/
Another corroberating link:
http://www.apparelnews.net/Archive/051101/News/news.html
<<<<<<<<<<<<
More to come...
Monaco
Here is the Dunn & Bradstreet info on Antik Jeans, LLC
ANTIK DENIM, LLC
5804 E. Slauson Avenue
Los Angeles, CA 90040
D-U-N-S Number: 16-856-8868
This is a single location.
Telephone: 323 278-6668
Manager: PAUL GUEZ, MEMBER-MGR
Year started: 2004
Employs: 10
SIC: 7389
5136
5137
Line of business:
Apparel design commercial &
wholesale men's and women's sportwear
Special Events
10/18/2004
SELF REQUEST: This record was originally created on 10/18/04 at the request of Deborah Greaves, Attorney.
More DD to come..
Monaco
article linked from shellstockreview.
http://businessweek.com/1999/99_37/b3646116.htm
I'm new at 'shell corporations' so i am not sure. This is an excerpt from their news site (i bolded the points of interest)
February 9, 2005
The following are excerpts from a letter to shareholders of IntelliJet Marine, Inc. dated February 4, 2005
To the Stockholders of Marine Jet Technology Corp.
Re: Distribution of Shares of Common Stock of Intellijet Marine, Inc.
Dear Stockholder:
This letter is being provided to you by the Board of Directors of Intellijet Marine, Inc. (“Intellijet”), a Nevada corporation organized on October 22, 2004. Recently, you received the Schedule 14f-1 Information Statement filed by Marine Jet Technology Corp. (“Marine Jet”) with the Securities and Exchange Commission on January 13, 2005. The Information Statement furnished you with certain information in connection with the proposed sale by Mr. Jeff P. Jordan of all of his shares of common stock, representing 70.1% of the outstanding shares of common stock, of Marine Jet and the resultant change of control of Marine Jet.
In connection with the above-described transaction, Marine Jet organized Intellijet as a wholly-owned subsidiary and, on January 20, 2005, Intellijet entered into an agreement with Marine Jet providing for Marine Jet to transfer all of its assets to Intellijet and for Intellijet to assume, and indemnify and hold harmless Marine Jet for, all of the liabilities and obligations of Marine Jet. Subsequently, the Boards of Directors of Marine Jet and Intellijet . . . . . authorized the distribution of all of the 21,822,570 outstanding shares of common stock of Intellijet owned by Marine Jet to the stockholders of Marine Jet of record on January 24, 2005 . . . . . . on a pro rata basis (the “Distribution”). . . . . .The shareholders of Marine Jet have received stock representing the number of shares of common stock of Intellijet that is equivalent to the number of shares of common stock of Marine Jet that you currently own.
. . . . . . . . . . The Boards of Directors of Marine Jet and Intellijet determined that the Distribution would be in your best interest for the following reasons:
·Intellijet will be a private corporation focused on the further development and sale of marine jet technology. . . . . .
· We believe that Intellijet will have a better chance of commercializing the technology that Marine Jet has worked to develop for so long because Intellijet will not have to cope with the complex problems and financial burdens associated with the new regulations affecting public companies.
· Marine Jet will continue to be a public company with its shares of common stock traded on the OTCBB.
· You will continue to own the shares of common stock of Marine Jet that you currently own . . .
Sincerely,
IntelliJet Marine, Inc.
4805 158th Court NE
Redmond, WA 98052-5261
425-869-2723
info@intelliJetMarine.com
_____
I too would like to know more about the process. It seems that you retain the MJET stocks and intelliJet goes private. But is MJET a company anymore?
My understanding is that a company (MJET) is purchased by a private corporation(antik jeans) which then uses all of the SEC filings from the company to become public. eventually changes the ticker and then you own that amount of then new company. I may be wrong...
Looks that way but I'd like to know the specific details such as will current shareholders be part of a the new Antik jeans company or are we spun off and forced to stay with Mjet in it's current form. Here's a letter that was printed on Raging Bull regarding the situation. (Anyone with greater understanding of this company or the process in general, please comment. TIA)
By: jim391
09 Mar 2005, 06:14 PM EST
Msg. 20 of 28
Jump to msg. #
I emailed Intelljet with some question and here is the response I received.
Hi James,
Thanks for contacting IntelliJET. To answer your questions, you would still retain your shares of IntelliJET Marine, Inc. if you were to sell your shares of MJET. IntelliJET will be a private corporation focused on the further development and sale of marine jet technology. There are no plans at present for these shares to be traded publicly.
We believe that IntelliJET will have a better chance of commercializing the technology that Marine Jet worked for so long to develop, because IntelliJET will not have to cope with the complex problems and financial burdens associated with the new regulations affecting public companies.
Marine Jet will continue to be a public company with its shares of common stock traded on the OTCBB. It has been acquired by Keating Reverse Merger Fund, LLC. We expect that it will be merged with a private company wishing to go public.
Thanks for your interest in IntelliJET Marine, Inc.
Martha Jordan
IntelliJET Marine, Inc.
www.intellijetmarine.com
425 869 2723
Followers
|
0
|
Posters
|
|
Posts (Today)
|
0
|
Posts (Total)
|
136
|
Created
|
03/30/05
|
Type
|
Free
|
Moderators |
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |