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STWG .0013 looking for updates.
Is Local.Com (LOCM) The Next Big Internet Stock?
See the story at: http://hubpages.com/hub/Is-LocalCom-LOCM-The-Next-Big-Internet-Stock
Universal Media Corporation (PINKSHEETS: UMED), a Texas corporation, announces that it has changed its name to UMED Holdings, Inc. and will keep its UMED trading symbol.
As a small public company that positioned itself for growth, UMED has been approached with multiple opportunities to acquire private companies that desire to be part of a public company. Management has determined that our name should be changed to be more closely associated with our future structure of owning and managing assets in multiple industries. Presently, we have acquired assets in the mining and energy industries, which have great demands in our present worldwide economy. Our latest addition is a licensing agreement with 1st Resource Group, Inc. for a technology (re-engineered by experts from a major university to be small-scale portable, modular Gas-to-Liquid (GTL) conversion units) that converts natural gas to clean Synthetic Fuels (diesel and jet fuel) to capitalize on the significant natural gas reserves in the United States and the rest of the world. The units will enable natural gas producers to achieve stronger financial performance through conversion of natural gas to clean Synthetic Fuels at significantly less cost per barrel than the cost of oil.
"UMED looks forward to having the opportunity of bringing companies in growth industries into our holding company and increasing our share price for our shareholders," says Randy Moseley, CEO of UMED.
About Universal Media Corporation.
UMED Holdings, Inc. (UMED), located in Fort Worth, Texas, is a holding company positioned to acquire assets and companies in the energy, precious metals, aerospace, media and social media business sectors of our economy.
More information will be reported during the coming months.
I may just take a position to see what happens over the next few weeks.
Watching UMED to see if it breaks .07 could run to .2 or more
Stock to watch:
RPPR Aquastar Holdings Inc.
Just merged with SUTIMCo Inc. former privately owned company
merger worth $9.5 mil - current market cap $415,418
A/S 960,000,000
O/S 461,575,215
Float 99,495,763
News today joint venture deal worth $2,790,000
This one could go crazy at any time.
Chart showing some good consolidation over the past few
weeks between .0007 and .001
Current price .0008
This could easily be trading between .005 and .01 even if the A/S was maxed out.
I`d be pumping it too if I were getting paid in shares to promote a stock
DNPI ..***The Invisible Train*** --> .25-.30 http://www.decisionpt.com/index.php ..SC
CITC .0014 (.0012 x .0014) 0 Trades
CBCGQ .018
CBCGQ News Colonial Bank Parent Wins Bankruptcy Fight With FDIC
By Patrick Fitzgerald
Of DOW JONES DAILY BANKRUPTCY REVIEW
A federal judge has rejected the Federal Deposit Insurance Corp.'s claim that
it is owed more than $900 million from the former parent company of Colonial
Bank, which was seized by banking regulators last year.
Judge Dwight H. Williams Jr. of the U.S. Bankruptcy Court in Montgomery,
Ala., Tuesday granted summary judgment to Colonial BancGroup Inc. (CBCGQ), the
failed thrift's corporate parent, in a ruling dismissing the FDIC's attempt to
go after the parent for failure to maintain capital levels at the bank.
The judge said the "unambiguous language" of agreements between the parent
and federal and state bank regulators indicate the holding company "did not
make a commitment to maintain the capital of Colonial Bank."
In addition, Williams ruled that, even had Colonial made such a commitment,
it wouldn't apply under bankruptcy law because it couldn't be "assumed and
cured" since the bank was no longer in business. In other words, Williams said
in his decision, once the bank was closed, the "purpose for the commitment
could no longer be fulfilled, and performance under the commitment was
impossible."
The FDIC declined to comment on whether it would appeal the ruling.
"We are currently analyzing the opinion to determine next steps," said Andrew
Gray, a spokesman for the FDIC.
The decision, according to Colonial BancGroup's lawyer C. Edward Dobbs,
represents a win for bank-holding companies and could have a big impact on
creditor recoveries in other bank-holding company bankruptcy cases.
"The court's denial of a priority claim asserted by the FDIC in an amount
just under $1 billion" along with its rejection of the FDIC's bid "to convert
the Chapter 11 case to Chapter 7 is quite a significant ruling for bank-holding
company bankruptcy cases throughout the country," said Dobbs, an attorney at
Atlanta's Parker, Hudson, Rainer & Dobbs.
Indeed, the FDIC has argued in other bank-holding company bankruptcies--for
instance, in the bankruptcy case of the parent of Cleveland's failed AmTrust
Bank--that its ability to go after bank parents is critical if the government
is to hold companies accountable for the commitments they make to regulators to
maintain the capital of the banks they own and control.
In Colonial's case, the FDIC argued that the bank's former parent owed it
$909 million, an amount equal to the gap between how much capital its banking
subsidiary was required to have and what it actually had on hand when it was
seized by regulators in August 2009. The FDIC, the federal agency charged with
managing the receiverships of failed banking institutions, said Colonial's
holding company in recent years made numerous commitments to regulators to
shore up the bank's capital.
The FDIC was appointed receiver of the estate of Colonial's bank upon its
collapse last August, after which Colonial BancGroup filed for Chapter 11
bankruptcy protection and regulators sold substantially all of the bank's
assets to BB&T Corp. (BBT).
Colonial, whose remaining assets include $38.4 million on deposit at BB&T,
said it would be forced to liquidate if the FDIC were successful. The result,
according to Colonial's lawyers, would be that the holding company would be
forced to pull the plug on its Chapter 11 case and creditors owed some $400
million would be out of the money.
The fight between Colonial BancGroup and the FDIC over capital commitments is
just one of the disputes between the holding company and the regulator.
The holding company has sued the FDIC over the rights to a number of
assets--including tax refunds, proceeds from insurance policies and other
property--that it says belong to the bankruptcy estate. The FDIC claims it has
dibs on the assets.
At issue are assets that the parent company said it transferred to the bank
while it was insolvent. Such transfers, which could be worth hundreds of
millions of dollars, can sometimes be unwound under bankruptcy law.
The FDIC was named receiver of Colonial Bank after regulators seized the
Montgomery, Ala., bank in the summer of 2009. Colonial, which had $25 billion
in assets and $20 billion in deposits, was the biggest bank failure of last
year.
The FDIC estimates Colonial's collapse will cost its insurance fund $3.8
billion, making it one of the most expensive bank failures in U.S. history.
Colonial's failure was tied to the collapse of mortgage lender Taylor Bean &
Whitaker Mortgage Corp., which is also in bankruptcy. The two firms had a close
relationship.
As Colonial floundered, Taylor Bean and a group of other investors had sought
to pump $300 million into Colonial, which would have enabled Colonial to become
eligible for a $550 million federal bailout. But the two sides failed to get
regulatory approvals, and that plan was scuttled.
Lee Farkas, Taylor Bean's former chairman, is awaiting trial on charges that
he orchestrated a seven-year, multibillion-dollar fraud that contributed to
Colonial's collapse. Farkas has pleaded not guilty to the charges. His trial is
slated to begin in November.
Colonial, based in Montgomery, has acknowledged it is the target of a
criminal probe by the U.S. Justice Department in relation to its mortgage
warehouse lending division and alleged accounting irregularities.
(Dow Jones Daily Bankruptcy Review covers news about distressed companies and
those under bankruptcy protection.)
-By Patrick Fitzgerald, Dow Jones Daily Bankruptcy Review; 202-862-3544;
patrick.fitzgerald@dowjones.com
Click here to go to Dow Jones NewsPlus, a web front page of today's most
important business and market news, analysis and commentary:
http://www.djnewsplus.com/nae/al?rnd=osCpnGHqDrYg4OGMQohjpA%3D%3D. You can use
this link on the day this article is published and the following day.
(END) Dow Jones Newswires
09-01-10 1152ET
Copyright (c) 2010 Dow Jones & Company, Inc.
11:52 090110
CYRS Current Share Structure per IR... March 11, 2010:
100M A/S
47M O/S
15.6M Float
Last PR:
Cheyenne Resources Updates Developments on Joint Venture With Oxalis
BAKERSFIELD, Calif., Feb 2, 2010 (GlobeNewswire via COMTEX) -- Cheyenne Resources Corp. (Pink Sheets:CYRS), an emerging company focusing on major low risk exploration and production reclamation projects in the oil and gas sector, today provided the latest update on its joint venture with Oxalis Energy Group, Inc.
The company reported that, in phase one of their joint venture, it and Oxalis will focus on reworking 21 wells.
"What is very encouraging to us is that each of the 21 wells in this first phase are estimated to represent 200,000 mcf (mcf = 1,000 cubic feet) of natural gas reserves," said Cheyenne Resources President Thomas J. Cunningham.
"Moreover," he noted, "based on the high condensate associated the natural gas within this property, we will receive a 20% premium for the price of the natural gas production."
"Six of the wells are in various stages of being reworked. These should begin producing within the next month, and announcements about their coming on line will be made. Following this, four wells per month will be reworked until the 21 total are completed."
MMGP SS:
Share Structure:
As of March 31st 2009:
Outstanding: 449,999,999
Authorized: 490,000,000
SSEV chart looks like it may test .005 to .0069.
Nice consolidation between .0015 and .002.
Company is doing some nice things here:
Reduced A/S 10b - 6b
Making Acquisitions
Retiring Shares from O/S
New CEO
I wouldn't be surprised to see this test .02
SSEV in play
SSEV - .002 nice news
DMPD now .007
MDIN - .0008
ZIPZ - .0015
DMPD - .0065 looking for multiple pennies
WLKF - .0033
Load up on WFYW.....
Lightyear Network Solutions LLC has completed a securities deal that will result in the telecommunications provider trading in the public market.
Officials with Lightyear could not immediately be reached for comment.
According to a news release and filing with the U.S. Securities and Exchange Commission, Louisville-based Lightyear has completed a securities exchange with Libra Alliance Corp. (OTCBB: LBAL).
Libra was incorporated in Nevada in 1997 and previously operated as an Internet service provider. For the past two fiscal years, it had been searching for business opportunities, including a potential merger, according to the release. Through the securities exchange, Lightyear became Libra’s principal operating company.
For the nine months ended Sept. 30, Lightyear generated about $44 million in revenue, compared with $43 million for the same period in 2008. Lightyear has more than 80 full-time staff.
Under the securities exchange, Lightyear’s debt holders — composed of Lightyear’s owners — released the company from about $26 million in short- and long-term liabilities in exchange for 10 million restricted shares of Libra’s common stock to be issued immediately. Another 9.5 million shares of Libra’s convertible preferred stock will be issued to Lightyear’s debtholders shortly after the closing, the release said.
Also as part of the securities deal, the former officers of Libra resigned and were replaced by officers with Lightyear, which provides telecommunication services to businesses and residential consumers.
J. Sherman Henderson, Lightyear’s CEO, has been appointed CEO and to the board of directors of Libra. Other Lightyear executives named to posts at Libra are: Stephen Lochmueller, chief operating officer; Elaine G. Bush, CFO; and John J. Greive, in-house general counsel.
“We are very pleased with the completion of this transaction as it positions us to broaden our investor base, financially support an accelerated growth plan and implement a focused acquisition strategy,” Henderson said in the release. “The main focus for Lightyear will be continuing to service the telecommunications needs of our approximately 60,000 business and residential customers utilizing our independent national sales force of Lightyear Agent Partners.”
He added that the company’s management expects to increase Lightyear’s revenue and profit through a combination of organic growth and acquisitions.
“With Lightyear’s debt and interest obligations to its parent being extinguished via the exchange transaction, we believe that we are well-positioned to initiate our organic and acquisition growth strategies,” he said. “As a public company our goal is simple: we will look to translate the benefits that we believe our products provide to our customers into sustainable growth in revenues and earnings and, ultimately, increased shareholder value.”
This seems to be important for Wherify because during the financial meltdown in 2008 they were trying to merge with Lightyear and now Lightyear is in a position to just take them over.
I think something big may be coming here.
From the businessweek website
WHERIFY
Sherman Henderson
Chairman and Chief Executive Officer, Wherify Wireless, Inc.
Sherman Henderson has been the Chairman, Chief Executive Officer and Director of Wherify Wireless, Inc. since August 2008.
LIGHTYEAR
J. Sherman Henderson III
Founder, Chief Executive Officer and President, Libra Alliance Corp.
BACKGROUND*
J. Sherman Henderson, Sherm, III founded Libra Alliance Corp. (also known as Lightyear Network Solutions LLC) in 1993 and has been its President and Chief Executive Officer since inception in 2003. Mr. Henderson is a Founder of UniDial Direct and serves as its Chief Executive Officer and President. He has over 36 years of business experience in sales, marketing, management and company ownership. He served as the Chief Executive Officer and President of Lightyear Communications ... (formerly known as UniDial Communications) since August 1993. Prior to that, Mr. Henderson served at US Network, where he served as a Regional Telecommunications Distributor of American Centrex beginning since 1989. Mr. Henderson served as the Chairman of Comptel Ascent (formerly known as Telecommunications Reseller Association), a national trade organization, since May 1994. He served as Chairman of Comptel Oyj since 2004 and served as its Director. He has been a Director of Telegroup Inc., since October 1997. He has been a Director of Thermoview Industries Inc. since August 1998. He has been an Additional Director of Beacon Enterprise Solutions Group Inc. (Formerly, Suncrest Global Energy Corp.) since 2007. He has been a Director of LY Holdings, LLC since 2004. He has been a Director of Eagletech Communications Inc., since January 2001. Mr. Henderson has been a Director of Auric Mining Company (also known as Focus Affiliates, Inc.), since February 1998. He served as a Director at Libra Alliance Corp., since February 10, 2010. He served as an Independent Director of Voice Mobility International Inc. since June 12, 2007. Mr. Henderson holds a Bachelor of Arts degree in Business Administration from Florida State University in 1965.
LBAL was a clean shell before Lightyear merged into it this past February. We may hear some major announcements about a merger between WFYW and LBAL which by the way trades at $4.00/share
From WFYW last 8-k:
Item 1.01. Expiration of Merger Agreement with Lightyear Network Solutions.
As described in 8K filing on August 14 , 2008 Wherify Wireless, Inc. announced that it had entered into a Merger Agreement with Lightyear Network Solutions , which was conditioned on the merged companies being able to raise fifteen million dollars in financing. The Agreement automatically expired on November 30, 2008 when the companies were unable to complete the financing required by the agreement due to the economic conditions plaguing the financial markets. Wherify and Lightyear Network Solutions are considering a possible technology license agreement while the efforts to complete the contemplated merger continue. Wherify is also investigating alternative business combinations in the marketplace.
Oil plays hot SPOC should follow
SPOC - .003 low OS 16mil shell play
very risky but has potential based on m/a macd...
PPJE - .0002 On watch:
From Biomedreports
On 12/24/09, PPJ Enterprise (OTC:PPJE), a leader in proprietary automated health care reimbursement cycle (all specialties), on line health information digital systems and practice information management digital system software for health care providers and general businesses worldwide, has announced its subsidiary, Professional Billing Service (PBS) has secured three contracts (3) (as published on 11/6/2009) out of which two (2)pain management surgery center billing contracts and one (1) pain management physician billing contract in the greater Phoenix area.
EPEO looking for a multiple day run. Broke resistance at .01 and holding well.
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