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i agree, their products, especially their professional audio equipment, seems to still be very well-received in the market
Very helpful. Thanks for piecing those events together. It appears looking around on the net that the SLS reputation and product quality is very much in tact after the BR and downsizing. May be in a good position for a comeback. grabbed a few 007's today.
This may help clarify:
1. I believe SLS Audio chased after the wrong markets(consumer) starting in 04'/05'.
"The consumer marketplace is a disaster now with the economy the way it is," Gott said. "We got kind of sidetracked into the consumer marketplace by some investors. That's definitely the reason for the demise of the (old) company."
2. SLS Audio delisted from AMEX in 2006.
"The public company's continued loss of income and other financial factors in 2006 meant SLS no longer qualified for listing under AMEX."
3. SLS then dropped from the OTCBB in 2007 because of financial constrainsts in filing SEC Reports.
"The company also could no longer file SEC reports beginning in 2007 because its "cash position" made SLS unable to pay outside auditors the required fees to review financial statements, according to an SEC filing."
4. SLS started the process of acquiring SLS indutries shell beginning in 2008 and completed it in late 2008. In my opinion, Gott new the Company was going under in 2007 based on the bad decision to chase after the consumer market. That's why he was getting the ball rolling with acquiring the SLS industries shell right at the beginning of 08'
5. SLS Audio filed for Chapter 11 in March 2009, with 60 day agreement to liquidate assets and then chapter 7.
6. In April 2009, Nevada SOS site name change of SLS industries to Intrinsic Audio Solutions Occured. 10 Days after that, Intrinsic Audio Solutions is incorporated in Missouri, and is currently in good standing.
Thanks for the timeline. Very helpful in understanding what is going on here. So did SLS aquire this shell after the bankruptcy and delisting from the AMX? When did they aquire this ticker symbol and move in to this? This looks like it could have great potential, just needs more exposure.
Domain Name Dates:
Domain Name: SLSLOUDSPEAKERS.COM (Old Website)
Updated Date: 17-dec-2008
Creation Date: 29-may-1998
Expiration Date: 28-may-2010
Domain Name: SLSAUDIO.COM (re-directs you to nczon.com)
Updated Date: 04-feb-2010
Creation Date: 08-feb-2005
Expiration Date: 08-feb-2011
Domain Name: NCZON.COM
Updated Date: 18-feb-2009
Creation Date: 14-feb-2009
Expiration Date: 14-feb-2011
http://reports.internic.net/cgi/whois?whois_nic=nczon.com&type=domain
TIMELINE OF EVENTS:
1. 3/13/2008: SLS international Inc. Dissolved
https://www.sos.mo.gov/BusinessEntity/soskb/Corp.asp?546608
2. 01/11/08 to 4/29/08: The Publice entity SLS Industries Inc. has the following actions listed on the Nevada SOS site (NOTE that the previous action before these hadn't occurred until 7/28/05)
Action Type: Acceptance of Registered Agent - 1/11/08
Action Type: Reinstatement - 1/11/08
Action Type: Designation (1M Shares Designated Series A Preffered)- 1/29/08
Action Type: Resignation of Officers - 4/24/2008 (Only inactive officer listed is Michael Anthony)
Action Type: Registered Agent Address Change - 4/29/2008
http://nvsos.gov/sosentitysearch/corpActions.aspx?lx8nvq=9jz%252b8YooYiwwFYECNFmxhA%253d%253d&CorpName=INTRINSIC+AUDIO+SOLUTIONS%2c+INC.
3. 8/25/2008: Nevada Site updated for:
Action Type: Merge Out
POST MERGER FORWARDING ADDRESS: SLS INDUSTRIES, INC. 330 CLEMATIS ST, STE 217 WEST PALM BEACH, FL 33401
http://nvsos.gov/sosentitysearch/corpActions.aspx?lx8nvq=9jz%252b8YooYiwwFYECNFmxhA%253d%253d&CorpName=INTRINSIC+AUDIO+SOLUTIONS%2c+INC.
4. 4/10/2009: Nevada Site updated for:
Action Type: Amendment (Name changed to Intrinsic Audio Solutions)
http://nvsos.gov/sosentitysearch/corpActions.aspx?lx8nvq=9jz%252b8YooYiwwFYECNFmxhA%253d%253d&CorpName=INTRINSIC+AUDIO+SOLUTIONS%2c+INC.
5. 4/20/2009: Intrinsic Audio Solutions officially registered in Missouri with SOS
https://www.sos.mo.gov/BusinessEntity/soskb/Filings.asp?2772876
6. 4/29/2009: Fictitous "DBA" form filed with Missouri SOS, so they can continue use SLS Audio as fictitous name and Intrinsic Audio Solutions as legal name
https://www.sos.mo.gov/BusinessEntity/soskb/Corp.asp?2778542
7. 6/2/09:Amendment Filed w/ Missouri SOS
https://www.sos.mo.gov/BusinessEntity/soskb/Filings.asp?2772876
8. 6/22/09:annual report filed with Missouri SOS. They are in currently in good standing with Missouri SOS.
https://www.sos.mo.gov/BusinessEntity/soskb/Filings.asp?2772876
9. 6/09:Apply for city of Ozark Action Fund Loan through the Missouri Department of Economic Development.
10. 12/2/09: they finally PR the story and validate that they did receive the Loan and that they are officialy intrinsic audio solutions dba sls audio (stickied)
11. End of 09'-Current: New website flying under the radar. Note that 2010 NAMM Show is already on the website where SLS audio equipment was utilized. 2010 NAMM Show occured on 1/15/10-1/17/10, just 2 weeks ago
http://www.nczon.com/index.htm
sdcaalan, congrats on a nice entry... and glad to have you with us. if we get another few traders on this one i think the float will be pretty much locked up. OS is only 15.56M..!
welcome to the board!
SLSI .007 X .008.... MMs don't have anything on the offer down here imo!
New investor as of today, saw it on the Van Scan. got a partial fill at .006 SLSI looks very promising.
nice work! I went ahead and slapped the ask:)
SLSI - picked up a few more at .006 before it UT'd....
yes, "thin" is an understatement... lol
One MM left under .012 could get interesting here.
good morning, jb.....
http://www.nczon.com/SLS-news-items.pdf
(note the new website address)
A good summary of who is using their SLS Ribbon Driver Technology and some of their connections in the marketplace. I listed some of them below.
1. The Recording Academy®
2. Quincy Jones / Academy, Grammy and Emmy Award Winning Performer/Producer
3. Paul Bevan / Emotional Entertainment / NBC Today Show
4. John Nowland / Redwood Studios / Neil Young
5. Chicago’s Band Shell, Home of International Blues Festival,Gets New Gear
6. IAJE Conference NEW YORK
7. University of Massachusets Lowell
8. NASCAR Facility
9. U.S. Federal Government, selected the SLS products to sell to the US Navy for use aboard the aircraft carrier
USS Roosevelt.
10. Museum of Modern Art
11. SLS International's Loudspeakers Selected by NBC's 'Today Show'
it says "1 year warranty"...
http://www.av-express.com/AV-Catalog/HomeTheater/SLSQLineHomeTheater
also "factory buyout"...
so good for SLS-IAS... looks like they are moving that inventory and creating some revenues in the process.
On their home page:
http://www.av-express.com
I added 1 to my shopping cart, and they asked for payment.
SLS Q-line currently being sold..??
hmmm... now THIS is interesting:
http://www.av-express.com/s.nl;jsessionid=0a0109441f43a776bfe9b97649b3bd84ae05a4078811.e3eTaxiNaN0Te34Pa38Ta38Lbxr0?sc=26&search=sls
imo AV Express appears to be selling the Q-line systems by SLS. i did a search for this inventory a few months ago and all i could find were "sold out" banners, and dead links, no matter what the site happened to be. if i recall correctly, the equipment was even difficult to find on ebay.
does this mean SLS is selling off old inventory of the Q-line or is it possible they have gone back into production on this stuff? or were retailers barred from selling it during BK proceedings, and now they are clear to do as they please with their inventory?
thanks for that video link, sidedraft. the SLSI story is getting pretty interesting, i must say..!
i just updated the IBOX...
If you look up the SLS industries inc. address that sidedraft pointed out on the SOS site it confirms this a Michael Anthony Shell as well.
2010 website for SLS Audio/Intrinsic Audio Solutions:
http://www.nczon.com/index.htm
here's the link between SLS and IAS:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=46310302
hi, britpack -- i just realized this is a michael anythony shell. (not to steal jgp's thunder!) but if you check the "include inactive officers" box on the nevada SoS filing it shows him clearly:
http://nvsos.gov/sosentitysearch/CorpDetails.aspx?lx8nvq=9jz%252b8YooYiwwFYECNFmxhA%253d%253d&nt7=0
this fellow has quite a reputation in the shell player's world for choosing dynamic companies that go on major runs. perhaps SLSI will earn him an even better reputation..!
thanks britpack:) yeah i'm thinking so too.
Great DD JG, if only I could have gotten a fill today. Will try again Monday, looks like there could be a lot of upside potential here.
And from what i'm reading, apparently their technology platform wasn't ever the problem, it was solid and well-received.
With regard to their revenue potential (from the old website):
They have a 150,000 sq. ft. manufacutring facility has the manufacturing capability to produce over $200 million of audio products and also has the infrastructure to support and partially warehouse product in excess of $1 billion in annual revenue.
That on top of the increased international focus and distribution in 30 countries, should make for an interesting round 2 for this company.
Here is the link to the bankruptcy filing if anyone is interested in the details:
http://amlawdaily.typepad.com/files/sls-intl-ch-11-filing.pdf
yeah i did, figured it would be worth it for us:) Didn't cost much
The company messed up when they tried to tackle the consumer and in-home markets too. Now it looks like they are focused on their niche: commercial and professional markets.
I believe of lot of their outstanding debt prior to Chapter 11 was due to the retail audio market.
I liked this part of the article especially:
"Gott said in the last year, nearly half of the company's sales have been overseas. They have about 250 audio/visual contractors nationally who are qualified dealers, as well as 30 international dealers."
The 30 international dealers are all listed on the new website we found.
jgp, did you pop for the expense and purchase this article for us??
i have to say, that's some excellent info. especially knowing their headcount is reduced, but still a full half of what they had, and it sounds like they plan to grow, by adding more employees with the proceeds of that block grant.
SLS/IAS is leaner and meaner... with a focus on their core competency. years ago, as i understand the story, it was their bid to capture the retail audio market via sales in "best buy" that bled off a lot of their capital.
the old SLS audio had some major revenues when they traded on the amex. to have half of that would be huge, especially given this share structure.
welcome aboard, assist mod vantillian.... i'm very glad you're a part of this.
Ozark-based speaker maker getting second chance
Springfield News Leader - Springfield, Mo.
Author: Tara Muck
Date: Dec 2, 2009
Start Page: A.1
Section: COMMUNITIES
Text Word Count: 696
Document Text
News-Leader
Ozark -- Nearly nine months after SLS International filed for Chapter 11 bankruptcy, the Ozark-based company aims to re-emerge as a stronger, more focused competitor in the speaker market.
It's always been a small company. Eight years ago, the company began taking bites into the marketplace it couldn't chew.
SLS International's venture as a public company in 2001 never quite got off the ground.
What resulted was five straight years with a loss of income. In the third quarter of 2006, SLS reported a net loss of $6.99 million.
Public 'demise'
John Gott started Sound and Lighting Systems in the early 1970s out of a side business to his music retail shop in Springfield. The "speaker shop" gained attention for speaker technology and innovation. And, in 2000, it merged with a new entity, SLS International, which became the surviving company and the sole shareholder.
In 2001, SLS went public and Gott became chairman and CEO.
The company, which took up residence at the former Fasco building at 1650 W. Jackson in Ozark, began to design, engineer and manufacture speakers under the SLS Audio brand.
But the changes didn't stop there. Instead of focusing on its strength -- professional and commercial audio -- the company began to branch out into the consumer, in-home market, a decision Gott blames for the company's fall.
"The consumer marketplace is a disaster now with the economy the way it is," Gott said. "We got kind of sidetracked into the consumer marketplace by some investors. That's definitely the reason for the demise of the (old) company."
The public company's continued loss of income and other financial factors in 2006 meant SLS no longer qualified for listing under AMEX.
The company also could no longer file SEC reports beginning in 2007 because its "cash position" made SLS unable to pay outside auditors the required fees to review financial statements, according to an SEC filing.
That's when the company decided to file for protection under Chapter 11 bankruptcy in March.
The plan was to sell the company's assets to a new owner. Once that sale was complete, SLS International would dissolve under Chapter 7 bankruptcy.
It was the best way to save the company and continue to serve its customers, said Gott, who became one of several private investors to buy SLS International in May.
Now the new company, Intrinsic Audio Solutions Inc., is getting back to its roots.
Second chance
While the company continues to manufacture the same product under SLS Audio, other things have changed since the purchase. "We are strictly focused on the commercial and professional audio ... That's the core business," said Gott, now president of Intrinsic Audio.
In fact, 60 percent of SLS Audio products go to houses of worship.
There's also quite a demand in the cinema market. The company supplies about a dozen small- and medium-sized theater chains across the Midwest, as well as some international cinema customers.
Wehrenberg Theater Campbell 16 in Springfield uses SLS Audio. "(Cinema) actually does very well and is doing very well in the down economic times," Gott said.
The fountain at Branson Landing uses SLS Audio speakers during its musical-themed display.
A vast majority of SLS products are shipped.
Gott said in the last year, nearly half of the company's sales have been overseas. They have about 250 audio/visual contractors nationally who are qualified dealers, as well as 30 international dealers.
"We're pushing our marketing out into the international market space because it does give us flexibility," Gott said. "They also order in larger quantities in individual shipments because of freight costs and time issues."
And SLS is also producing with fewer employees -- 21 compared to the 52 it had in 2007.
Gott said many of those employees were to handle the public entity. Now, employees are focused on the products themselves.
To help SLS get back on its feet, the city of Ozark sponsored an application on behalf of the company to receive an Action Fund Loan through the Missouri Department of Economic Development.
The $500,000 loan will be used to retain the current 21 Intrinsic employees and hire six additional employees over a two-year period, Gott said.
welcome jgpatel83 as assistant mod:
http://investorshub.advfn.com/boards/profile.asp?user=170921
and please membermark them if you are so inclined. i think i speak for all of us when i say "thanks" for their DD on SLSI in these last few days.
this story is constantly evolving... much more to come imo!
even a really long term holder would want the most money they could get for their shares imo. instead they are jamming us.
i agree with you that it will be worth it to clean out the garbage down here and put the stock in strong hands. i doubt NITE likes that idea, but so be it. lol
Could it be a really really old holder? I tend to agree because of the sub 16M o/s. What would that make the float? With sustained buying pressure and with a real story/revs/income this thing could see .10++++++++++++++++++++
I love these low floaters...hate the cleaning process.....but love the rewards.
vant, take a look at the historical volumes on the daily chart. i find it fascinating that so little volume traded at this level, yet NITE seems dead set on holding us here. why? what vested interest do they have in keeping the pps down here?
i refuse to think this is some "seller" routing through NITE on the offer. anyone with half a brain would be selling above .01... and with the momo we saw yesterday we could be over .10 by now... lol
On bid here myself. Give this one a day or two to clean out the old holders and we're golden. Keep digging for DD here. A filing/PR would send this is a HEARTBEAT. Seriously...any decent news this would be over .03 in the blink of an eye. Did you see how easy it moved on buying pressure yesterday?
356,000 in volume so far, bidders stacked, and ask UT'ing... SLSI looking like it could set up nicely for next week imo.
Nice to see some new DD popping up brikk.
note the copyright at the bottom of this page:
http://www.nczon.com/Evenstar%20Amplifiers.htm
and here is the copyright on the same exact website, but the home page:
http://www.nczon.com/index.htm
looks to me that SLS audio IS "intrinsic audio solutions"... jmho.
this web advertisement shows the new missouri location. i'd say it's absolutely confirmed they are cranking out loudspeakers and other equip from their new facility.
http://www.hellotrade.com/sls-audio/
here's the funny part -- how much stock do you think was sold under .008, and yet that's where NITE wanted to close us. LOL
what seller on the LONG side, unless they were cuckoo, would be selling the stock down in such a bullish market? ESPECIALLY with the next best offer at .012....
me thinks shorty may be in a bit of a panic. jmho!
Here's the plan, tomorrow at 9:40 AM, everybody load up. LOL
excellent digging. that's even more confirmation. piece by piece, this is really looking like a R/M imo.
SLSI... let's connect some dots. imo this is a very important sentence here, but especially the bolded text:
Gonna pop. The goobers selling under a penny EOD are going to be puking.
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SLS Industries, Inc. (SLSI) is a highly speculative shell play, but with its risk could come great reward.
Share Structure:
OS: 15,563,346
AS: 80,000,000
From the last 10KSB "As of January 31, 1998, number of shares of Common Stock, outstanding was 15,563,346"
This story is coming together as a series of clues. Since our DD is constantly changing, the information herein is only a rough guide.
SLS AUDIO company website: LINK
THE BASIS FOR SPECULATION:
Intrinsic Audio Solutions appears to be the NEW name for SLS Audio (aka SLS International), a multi-million dollar company that once traded for dollars per share on the AMEX as SLS. It appears CEO John Gott changed the name on 4/09/09 from "SLS Industries" to "Intrinsic Audio Solutions", and evidence exists on the web linking IAO with SLS through a recent hire.
Amendment on 04/10/2009 changes name to "Intrinsic Audio Solutions, Inc." on the Nevada SOS website:
Note this article from December, 2009:
Ozark-based Speaker Maker Getting Second Chance
and this 2010 SLS/IAS website with a mysteriously generic URL:
http://www.nczon.com/index.htm
Here is how the connection between SLS and IAS can be confirmed:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=46363946
One more thing: SLSI is a Michael Anthony shell, and his plays have a solid reputation:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=46363706
The story is quite compelling, but why are investors most interested? The assets of SLS Audio could be significant, as in several millions of dollars, and the current OS of SLSI is only about 1/10th the size of the OS of SLS when it traded on the AMEX. Furthermore, revenues for SLS Audio were also in the multiple million dollar range. While many valuations are much more conservative, some shareholders are speculating the value of the new entity, if formed, could be on par with the former SLS Audio when in its prime: dollars per share.
Again, it must be emphasized this stock is high risk, and isn't for everyone.
The opinions expressed here in this forum are exactly that, and don't constitute investment advice.
Do your own DD.
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