Stream Communications Network & Media Inc (fka SCNWF)

[gumzsa]

all ready posted it. thanks

[Renee]

SCNWF revoked:

http://www.sec.gov/litigation/admin/2012/34-67429.pdf

http://www.otcbb.com/asp/dailylist_detail.asp?d=07/13/2012&mkt_ctg=NON-OTCBB

[gumzsa]

such BS


SCNWF Stream Communications Network & Media Inc. Ordinary Shares (Canada) 7/13/2012 12(j) Registration Revoked by SEC

[kekermahoney]

hope there's a pulse.. what happens with the 9 million dollars they got

[Barney Vissur]

certainly looking that way. something's still in the air.

[gumzsa]

no clue. maybe we still have a pulse

[Barney Vissur]

http://www.sec.gov/Archives/edgar/data/1125670/000106299312002202/sc13d.htm

Why?

[Barney Vissur]

http://www.sec.gov/Archives/edgar/data/1125670/000106299312002202/sc13d.htm

Somebody must not care that they were suspended. These guys have been buying up privately at .06 as recently as June 4, 2012. Something's amiss here. Why buy, within the last month, a stock trading at .01, at .06 and acquire almost 19% of total oustanding? For entertainment purposes?

[gumzsa]

its all BS they suspending the wrong companies. so basically they are saying you can be some pos trip zero stock that sells billions of shares and Reverse splits over and over and thats ok. as long a s you file. LMAO!!!!!! what a joke.

[Renee]

Agreed en pointe. Regarding OTC stocks, even though the expected Financials do not need to be audited they must still be filed to OTC Markets so that those Fins can be vetted by the SEC for accuracy and adequacy.

[Barney Vissur]

An unaudited financial isn't worth the paper it's printed on. If this is where the SEC is directing its resources, no wonder Chase can get away with a 2 billion dollar trading loss, say, "I'm sorry" and move on. If the SEC was examining how trades are being executed by a publicly traded entity like Chase, there might be a little less of 2 billion dollar losses going on instead of a few million dollar company like this.

[Renee]

OTC Pinks do not need to file to the SEC but they are still required and expected to file unaudited yearly Financials and accurate corporate data to the SEC and Finra approved OTC Markets, aka Pink Sheets.

Even after an SEC Suspension and simultaneous ADMIN Proceeding a company that is delinquent in filing unaudited Financials to the OTC Markets still has a chance to redeem themselves by Filing to the OTC. Still, such a delinquent company will likely remain on the Grey Sheets unless the delinquent company audits at least 2 full years of Financials, but the delinquent company can at least avoid revocation which WILL happen if they don't submit all required unaudited Financials.

[gumzsa]

whats funny is pink sheets arent required to file so thats what makes it BS.

Definition of 'Pink Sheets'
A daily publication compiled by the National Quotation Bureau with bid and ask prices of over-the-counter (OTC) stocks, including the market makers who trade them. Unlike companies on a stock exchange, companies quoted on the pink sheets system do not need to meet minimum requirements or file with the SEC. Pink sheets also refers to OTC trading.

[Renee]

I have a hunch the SEC is just getting warmed up in cleaning up OTC and foreign public companies that won't file Financials, even unaudited Fins that could at least be vetted for accuracy.

No filing equals no trading.

[LexTrader]

Bummer gum.

[gumzsa]

these suspensions are getting old

[Renee]

Exactly, Gumzsa, ARGHHHHHHHHHHH says it all.

[gumzsa]

ARGHHHHHHHHHHHHHHHHHHHH

[Renee]

SCNWF SEC Suspension:

http://www.sec.gov/litigation/suspensions/2012/34-67198.pdf

ORDER:

http://www.sec.gov/litigation/suspensions/2012/34-67198-o.pdf

ADMIN Proceeding:

http://www.sec.gov/litigation/admin/2012/34-67199.pdf

[kekermahoney]

hmm.. PPS moved down this week.. what are your thoughts

[gumzsa]

form 20-F out. Ill read it later.

http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=8309902

[kekermahoney]

havent found anything yet, and obviously it hasnt affected the stock price.. gonna dig around some more

[Barney Vissur]

Is the money in? I know they got approval from the regulatory agency, but have you heard anything about the redemption of SCNWF shares? It's tough with this Polish stuff to get info.

[kekermahoney]

at least they hit the ask lol I'm still even as of now, but I was hoping the $ brought in would raise our PPS a bit..

[Barney Vissur]

lol, can you believe someone sold 5k shares for $75.00 (BEFORE commission)? At least wait until the end of the year for tax loss selling, lol!

[kekermahoney]

super huge volume today lol

[Barney Vissur]

yes, hopefully...

[kekermahoney]

thanks for the heads up.. hopefully it'll rise above 1.5 cents now lol

[Barney Vissur]

Anyone have an updated valuation of redemption?

[Barney Vissur]

Did anyone get an email replied to?

[Barney Vissur]

Looks like part 2 of the deal is done and I would presume funding should be closing soon as well:

24 Apr 2012

Poland

Polish broadband provider Multimedia Polska has received approval from Poland’s anti-trust authority the Office of Competition and Consumer Protection (UOKiK) to acquire 100% of cableco Stream Communications, reports Broadband TV News. Stream Communications currently represents approximately 100,000 subscribers and its acquisition will increase Multimedia’s customer base past the 500,000 threshold for Q1 2012.

http://www.telegeography.com/products/commsupdate/articles/2012/04/24/multimedia-given-green-light-for-stream-acquisition/


Warsaw, 27th January 2012

NOTIFICATION OF SALE OF SHARES IN STREAM COMMUNICATIONS SP. Z O.O. BY STREAM COMMUNICATIONS NETWORK & MEDIA INC.

Further to the news release of December 5, 2011, the Company hereby notifies that on 24th January 2012 between Multimedia Polska S.A. with its registered office in Gdynia (Multimedia) and MNI Telecom S.A. with its registered office in Radom and Stream Communications Network & Media Inc. with its registered office in Vancouver (Stream Canada) and Almerio Consultancy Limited with its registered office in Nicosia and Stream Communications sp. z o.o. with its registered office in Kraków (Stream Poland) the Annex No. 3 to the conditional shares sale agreement of 29th November 2011 (Annex) has been concluded.

by virtue of key provisions of the Annex, Stream Canada has sold to Mulitmedia 31.084 shares in capital of Stream Poland for total price of PLN 29.000.000,00 (twenty nine million) (US$9,000,000).

The price for the above mentioned shares belonging to Stream Canada will be paid as follows:

the amount of PLN 2.900.000 (two million nine hundred thousand) (US$900,000) will be payable by the date of 30th January 2012;

the amount of PLN 26.100.000 (twenty six million one hundred thousand) (US$8,100,000) will be payable within 7 days from the date on which the President of Antimonopoly Office will pass a decision with consent to a concentration, however in any case, even when the President of Antimonopoly Office will refuse to give a consent to the concentration, not later than on 30th September 2012.

The sale of shares in capital of Stream Poland by Stream Canada was unconditional and shares were transferred to Multimedia on the date of Annex conclusion, i.e. on 24th January 2012.

[Barney Vissur]

Looks like part 2 of the deal is done and I would presume funding, and payment for shares, should be closing soon as well:

24 Apr 2012

Poland

Polish broadband provider Multimedia Polska has received approval from Poland’s anti-trust authority the Office of Competition and Consumer Protection (UOKiK) to acquire 100% of cableco Stream Communications, reports Broadband TV News. Stream Communications currently represents approximately 100,000 subscribers and its acquisition will increase Multimedia’s customer base past the 500,000 threshold for Q1 2012.

http://www.telegeography.com/products/commsupdate/articles/2012/04/24/multimedia-given-green-light-for-stream-acquisition/


Warsaw, 27th January 2012

NOTIFICATION OF SALE OF SHARES IN STREAM COMMUNICATIONS SP. Z O.O. BY STREAM COMMUNICATIONS NETWORK & MEDIA INC.

Further to the news release of December 5, 2011, the Company hereby notifies that on 24th January 2012 between Multimedia Polska S.A. with its registered office in Gdynia (Multimedia) and MNI Telecom S.A. with its registered office in Radom and Stream Communications Network & Media Inc. with its registered office in Vancouver (Stream Canada) and Almerio Consultancy Limited with its registered office in Nicosia and Stream Communications sp. z o.o. with its registered office in Kraków (Stream Poland) the Annex No. 3 to the conditional shares sale agreement of 29th November 2011 (Annex) has been concluded.

by virtue of key provisions of the Annex, Stream Canada has sold to Mulitmedia 31.084 shares in capital of Stream Poland for total price of PLN 29.000.000,00 (twenty nine million) (US$9,000,000).

The price for the above mentioned shares belonging to Stream Canada will be paid as follows:

the amount of PLN 2.900.000 (two million nine hundred thousand) (US$900,000) will be payable by the date of 30th January 2012;

the amount of PLN 26.100.000 (twenty six million one hundred thousand) (US$8,100,000) will be payable within 7 days from the date on which the President of Antimonopoly Office will pass a decision with consent to a concentration, however in any case, even when the President of Antimonopoly Office will refuse to give a consent to the concentration, not later than on 30th September 2012.

The sale of shares in capital of Stream Poland by Stream Canada was unconditional and shares were transferred to Multimedia on the date of Annex conclusion, i.e. on 24th January 2012.

[kekermahoney]

OK you win, i've only been in since last year but still lol Sold at a profit 2 weeks ago, but if I held one more week...

[gumzsa]

that HYS-- one i love that one been holding since 09 now they doing something finally

[kekermahoney]

count me in as well lol I'm not giving up just yet- just sold another one I was holding HSY# and of course a week after it tripled

[gumzsa]

yep me too

[ToyotaMR2s]

Still waiting tic toc

[econometric101]

Anyone have the latest update on the buyout?

[gumzsa]

some mms disappear at close chill

[kekermahoney]

moves up at close, bid drops along with it.. ridiculous

[gumzsa]

.039 close

[gumzsa]

i am going with the flow no clue

[kekermahoney]

so what are you holding out for? Like how high do you think it'll go eventually? TIA

[gumzsa]

.035 x .039

[gumzsa]

nice slowly but surely

[kekermahoney]

and huge 1100 volume today too lol Still waiting for a decent bump but you need buyers to sell

[thekaiser]

.035 hitting

[gumzsa]

.03

[econometric101]

Thanks!

[Barney Vissur]

We had come up with a speculative .11 number based on buyout and shares outstanding. There was a 6-k filed dated end of January with closing details on the deal. I think proceeds were to arrive in two installments with the last about 7 days after end of January (subject to approval of the Polish version of the SEC said approval to be no later than Sept 2012, but they usually act MUCH faster than that). With the move in the price, I think the redemption of shares is veryclose. GL.