Reinsurance Technologies Ltd.(fka RSRN)

[Renee]

RSRN revoked:

http://www.sec.gov/litigation/admin/2014/34-72261.pdf

[sidedraft]

ALJ Initial Decisions:
Administrative Law Judges

http://www.sec.gov/alj/aljdec/2014/id588bpm.pdf

[Renee]

RSRN SEC Suspension:

http://www.sec.gov/litigation/suspensions/2014/34-71683.pdf

Order:

http://www.sec.gov/litigation/suspensions/2014/34-71683-o.pdf

Admin Proceeding:

http://www.sec.gov/litigation/admin/2014/34-71682.pdf

[lesamis]

Hey everyone. Is anyone still checking up on this POS stock? Just want to say the following. This company is SHIT!!!! They are never going anywhere. Most college kids these days are more clever and could get a company up and running in less time. Maybe they have a good idea, but what are they doing with it? I assume they have been pushing it and ramming it down peoples throats but obviously few companies are interested in the Sursite solution. This stock will never amount to anything, I swear it! Sorry for being so harsh but let me tell you the backstory. Almost 6 years ago some friends and I were sweet talked by a family member (who we do not talk to any longer) into getting into a hot deal, they knew someone that knew Dan Johnson who was personally investing every penny he had into this sure thing. In total we invested over 50 grand. We were told that we would all be millionaires within 6 months. Yep...6 years later, does this company still even exist? I know that we all took a risk based on what someone said and were trying to get rich quick but the fact is this almost seems like a scam, because it was marketed similarly to other people I talked to on the internet. It was kind of presented virally as a get rich quick thing, wonder who set that up? I long ago just figured we lost the money, I only look at the thing once every few months to see if any miracles happened. Does anybody know more about this? I want to ask my broker if it is officially dead so I can just get the worthless shares out of my account. If this happened to anyone else, sorry, but it looks like we were duped. This company seems to be a bigtime LOSER.

[detearing]

Something is UP!!! I smell money$$$$ Finally someone is buying after this has been dead for a very long time!!!

[detearing]

This stock continues to look dead!!!!

[detearing]

This stock continues to look dead!!!!

[detearing]

This stock looks dead.

[learning as I go]

From the last 8k.....

tells us alot eh?.....quite an "update"....thanks Joel....lol

October 8, 2009
Dear Investor,
I take great pleasure in writing my first letter to you in my role as President of Reinsurance Technologies Ltd. This letter briefly describes the
current status of the company and the recent changes that have brought us where we are today.
I became acquainted with Solution Technology International, Inc. (“STI”) in 2007 and later met its president, Dan Jonson, in early 2008. Dan
was enthusiastic about the company’s unique software and its unlimited potential for various applications across the insurance and reinsurance
industry. However, the company’s potential was frustrated by a debt load that was too large to work off over time—making it clear that STI
required new capital if the company was going to survive and prosper.
About a year ago, I became managing partner of Resurgence Partners, LLC. (“RPs”) RPs was formed solely to pursue an investment in STI
that would enable the company to realize the potential of its SurSITE® solution software. RPs first purchased the secured debt of STI as part of
its recapitalization strategy. Second, we offered to directly invest a meaningful amount of cash for working capital and management control
provided the company agreed to our plan to eliminate the STI’s remaining debt. Our plan required STI to file bankruptcy under Chapter 11.
Management agreed and the company’s plan was approved in mid- April of this year. As part of that process, the company’s existing
shareholders ended up with 3.75% of the company stock. The unsecured creditors exchanged their debt for 5% of the new company’s
restructured common stock and certain Class B preferred shares. For its cash contributions and debt forgiveness, RPs received slightly more
than 91% of the company’s common and certain Class A preferred shares. Pursuant to the bankruptcy agreement and court order, RPs then
provided the company with the working capital specified in the reorganization plan. The company has emerged from bankruptcy and its
company’s new common and preferred shares have been issued to all holders.
Reinsurance Technologies Ltd. | Tysons Dulles Plaza, 1420 Spring Hill Road, Suite 315, McLean, Virginia 22102, USA | Telephone [phone] | Fax [phone]

[Ex Blockman]

It would. Have a good evening.

[detearing]

Very good year indeed - this one is nothing to me - don't hold much at all; however, would'nt it be fun just to see it really pop?

[Ex Blockman]

Ouch. I have no clue what is going on with this one. Got in during the run before the RS but fortunately not as high as many. Someday we actually might hear something here. Or I'll just use it to offset a tremendous year in stocks this year.

[detearing]

After the 400% pop, I'm still down 85%.

[Ex Blockman]

At $2.00 I'm green, but try selling anything at $2.00. Ain't gonna happen....

[detearing]

Wonder who would buy any shares on a POS stock like this one...very very low volume...well, if it gets to $20 I'm selling - will still probably lose money at that.

[Ex Blockman]

Up 400%!! Yes!! LOL

[TraderLady]

None that I can find but from their websites it's business as usual. So somethng has to be going on now if they would just give us an update so that we knew.

[detearing]

This stock is dead in the water - I'm still holding - got stuck in it. Any news?

[TraderLady]

One of these days I'm going to wake up and this company is going to be way on up there.............such a wonderful dream..........now back to reality. WAKE UP RSRN!!!

[detearing]

Nope - no news on this POS.

[detearing]

Any news on this POS?

[moonpi]

I think it's the illiquidity created by the much smaller (and much higher priced) share-count resulting from the 400 to 1 reverse split, combined with the recent trading under the new ticker symbol. The company is definitely under the radar. The shares trading today are only 3.75% of all outstanding shares. I'm not sure if the shares that creditors other than Resurgence Capital received are registered to trade publicly yet. Those shares would represent 5% of all outstanding shares, more than all outstanding tradeable shares currently. Resurgence Capital's shares represent the rest (more than 90% of all outstanding) hopefully these will be locked up for a while (or Resurgence will choose not to sell).

[detearing]

It's all news to me. Do you know why the big spread btwn the bid and ask?

[moonpi]

Bankruptcy Filing Notes part 2:
Finally, the financial projections (broken down by month) included in the statement filed with the bankruptcy court [see exhibit C to Disclosure statement]:

2009:
Sales - $5,592,000
Profit - $1,073,628
(they had sales projected to occur as early as May, which I’d love to know whether or not that actually occurred to plan so far in 2009)

Valuation Ranges
10x = $10,736,280 ( about $0.85 share price )
20x = $21,472,560 ( about $1.79 share price )
25x = $26,840,700 ( about $2.23 share price )

2010:
Sales - $13,680,000
Profit - $2,744,974

Valuation Ranges
10x = $27,449,740 ( about $2.28 share price )
20x = $54,899,480 ( about $4.57 share price )
25x = $68,624,350 ( about $5.72 share price )

2011:
Sales - $34,416,000
Profit - $16,988,762

Valuation Ranges
10x = $169,887,620 ( about $14.15 share price )
20x = $339,775,240 ( about $28.31 share price )
25x = $424,719,050 ( about $35.39 share price )

So the upside possibility is their, but with the gigantic caveat that acceptance of their software must take hold for anything approaching these optimistic projections to occur. Anyone have thoughts on this or anything else to add? Please feel free to respond.

For your convenience I have posted the Disclosure statement and exhibits to SCRIBD (just search for RSRN)

[moonpi]

Below are my primary notes from the bankruptcy filings.
The pro-forma number of shares outstanding is not 448,397 listed on the pinksheets website. This represents the total shareholdings of the pre-petition shareholder's who now own 3.75% of the equity in RSRN. Therefore, the likely estimated sharecount is likely closer to 12 million, for a market cap of about $12 million as well.

Also discussed is the exit financing for RSRN (available after emergence from bankruptcy):
“The final tranche that is expected to be not less than $1 million is intended to be not less than $1 million is intended as exit financing to provide working capital to allow (RSRN) to make additional sales and support its stock price through engagement of PR and IR firms.”

It also doesn't appear as though the company has any revenues as of yet. However, the plan discusses the company's primary product
"SurSITE was built by STI (former name of RSRN) in partnership with a European charter client, the Swiss Pool for Aviation Insurance (SPL). SPL is a consortium currently consisting of 16 major European insurance and reinsurance companies. During the development and implementation phase at SPL, numerous alpha and beta versions were deployed, tested and run by SPL, Swiss Re and Aon professional staff. The initial production version at SPL was v1.23. During subsequent meetings and system demonstrations at potential clients in the US and overseas, the system has constantly been upgraded to stay competitive. Current production version, v2.6, is ready to be deployed to an insurance group with multiple business units and/or subsidiaries writing high-exposure lines of business that utilizes complex reinsurance programs.” Later.. “SPL was put into “run-off” (cessation of writing new policies but taking care of existing policies) effective July 1 2007 after AXA acquired the top producing member company, Winterthur Insurance Company.

One item of interest related to AXA mentioned in the “Management/Boards of Directors” section is that “the Committee will designate either (i) one (1) of its members, excluding AXA”. Not sure what this means.. does it mean that AXA is a creditor but would be not be eligible for the board of directors? It’d also be interesting to find out what the feedback has been like from customers who have used the company’s technology. This is what will determine whether or not the reorganization plan lives up to management’s expectations.
[end part 1]

[learning as I go]

Well, I for one, dont mind when someone buys 100 shares @ .95 or a buck after someone wacks it to .30. But, a 4k buy, that is different.

[detearing]

Well I don't know who would even buy any shares unless something is going on - this POS has been dead for quite a while.

[learning as I go]

Unless you see something different than me, I dont see any buying, except for today. 4k shares, maybe somebody knows something

[detearing]

Would anyone care to explain why anyone is buying this stock????

[detearing]

Well with zero volume today - this is dead in the water for now. I have it on my radar - ideally, they drop the price to subpenny and we all load up.

[learning as I go]

Dont really know yet, I'm doing the same as you, just holding to see where they go with it. It seems they are breaking the silence tho, maybe we'll start to get some news in the near future

[detearing]

If this was subpenny I may load up, but for .95? No way. I will hold what I have though it is not much. Any idea of the upside potential number?

[detearing]

Ok so they are out of bankruptcy thanks. I will not buy until the spread is reduced. Anyone planning on buying?

[learning as I go]

no problem H, good to see you're still hanging with us.

[Ex Blockman]

Oops! I should have read further first.

[Ex Blockman]

Umm, yes. You did miss something. Reread the post.

[learning as I go]

re-read it, they are out of BK chapter 11

[detearing]

What's so good about this news - so they go into Chapter 11, does not sound good to me...am I missing something???

[learning as I go]

nice work there LGB, thanks

[TraderLady]

There other website http://www.retechltd.com/ seems to have the same information as the www.stius.com site so it seems things are moving forward. 7/24/09 was just a little over a week ago.....can't wait for more updates......yeaaaaaaaaaaaaaa

[TraderLady]

So from that the official date of emerging would have been 7/24/09 and updates should be coming soon.....imho

and apparently they have a London office as well.....cool happenings it appears.

http://www.stius.com/news_london_office.html

ReTech’s London Office to be headed up by the Company’s newly appointed Chief Reinsurance Officer.

The senior management of ReTech has a longstanding affiliation with the London market. ReTech’s President and Chief Reinsurance Officer will direct the Company’s effort to augment and deploy London market intelligence while advising and encouraging brokers and underwriters to familiarize themselves with the many benefits that SurSITE® produces.

[TraderLady]

Anyone seen this press release:

http://www.stius.com/docs/2009-07-24-Press-Release.pdf

REINSURANCE TECHNOLOGIES LTD.
THE COMPANY PLAN OF REORGANIZATION EFFECTIVE
McLean, VA – July 24, 2009 – On November 4, 2008, Solutions Technology International Inc. filed a voluntary petition for relief under Chapter 11 of the United States Code, as amended, with the United States Bankruptcy Court for the District of Delaware. On March 31, 2009, the Company’s Plan of Reorganization was confirmed by that bankruptcy court. On April 14, 2009, the Company’s Plan of Reorganization was declared effective by the Bankruptcy Court. By July 24, 2009, Reinsurance Technologies, Ltd. emerged from bankruptcy.
About Reinsurance Technologies Ltd. (“ReTech”)
ReTech, a software product company, offers SurSITE®, a reinsurance processing system that helps an insurance or reinsurance organization to facilitate and support critical reinsurance back-office business processes and efficiently manage complex reinsurance contract combinations throughout the entire reinsurance contract workflow, from assumed and ceded to retroceded business. Common stock of the Company is listed on the OTC Bulletin Board; trading symbol RSRN. For more information about ReTech and the SurSITE® solution, please visit www.retechltd.com.
SAFE HARBOR STATEMENT: THIS NEWS RELEASE MAY INCLUDE FORWARD-LOOKING STATEMENTS WITHIN THE MEANING OF SECTION 27A OF THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, AND SECTION 21E OF THE UNITED STATES SECURITIES AND EXCHANGE ACT OF 1934, AS AMENDED, WITH RESPECT TO ACHIEVING CORPORATE OBJECTIVES, SUCCESSFUL DEPLOYMENT OF ITS ENTERPRISE SOFTWARE AND/OR OTHER MATTERS. THESE STATEMENTS ARE MADE UNDER THE "SAFE HARBOR" PROVISIONS OF THE UNITED STATES PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 AND INVOLVE RISKS AND UNCERTAINTIES WHICH COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE IN THE FORWARD-LOOKING STATEMENTS CONTAINED HEREIN. THESE FORWARD-LOOKING STATEMENTS ARE BASED ON MANAGEMENT’S EXPECTATIONS AS OF THE DATE HEREOF, AND STI DOES NOT UNDERATKE ANY RESPONSIBILITY TO UPDATE ANY OF THESE STATEMENTS IN THE FUTURE. SEE STI’S FORM 10-QSB FOR THE QUARTER ENDED JUNE 30, 2007 FOR A DISCUSSION OF SOME OF THE RISKS, UNCERTAINTIES AND OTHER FACTORS WHICH NECESSARILY QUALIFY ALL STI’S FORWARD-LOOKING STATEMENTS.

[learning as I go]

Not much D&D to do, just need to wait it out for the company to put something out here.
I would have thought we'd have heard from them by now

[detearing]

Me too. If this pops to $4 I'd be wishing I bought more, but no time to do dd.

[Ex Blockman]

Same here M....

[learning as I go]

Holding

[detearing]

Is there anyone still holding long this POS? Any news or dd?

[mick]

how long were you gone? done by boat?

[hoppercheng]

My B of A shows a merger??? With who I do not know! i sold most off at 1.00

[Skooler]

ARE YOU KIDDING ME

wow, this sucks, all my peenies went to the crapper a couple months ago so i never got on scottrade anymore, well here i am being bored i thought i would get on for fun. I just saw that my account was 5grand back in may and now its back to 200bucks..it kinda makes me sick in my stomach...

will this stock ever go back up?