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I agree with you Bob....to a degree...it' s just that on the other (WLFO Lycos board) some bashers get VERY personal and off topic!!!
thbg
thbg
Bashers never bash a bad stock.
Is that a typo?
The following tickers are just a short part of a huge list of stocks having at least 2 things in common: RMIL, AZNT, DGIV, GIFS, SEXI
The two things in common?
1. So-called "bashers" were all over them like white on rice.
2. They were proven to be the scams the "bashers" portrayed them to be and haven't traded for years.
I don't know anything about this company and am not offering an opinion on it. I'm offering an opinion, though, that assuming any stock is a good stock just because it has bashers would be financial suicide.
I like what xxrayeyes said and wholeheartedly endorse that sentiment. Gotta hear the good and the bad (both facts and opinions) to really get the bigger picture.
No problem. I don't really mind people who post negative comments about a company. There are positive and negative factors in every public company. I just don't like all the flame war crap that most bashers start. It is one thing to talk bad about a company. It is quite another to get personal and start calling posters names and such. RB allows this kind of behavior but Ihub does not. Thanks for the info regarding EVG-Austria. Sounds good. I hope that all the bankers can get the funding sorted out soon so the project can get started.
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Thanks xxrayeyes...well this board is very new ! Yes, I admit
that the other board is not as fun since the late summer ! I believe that when the "big" bashers join a board it' s because they know something about the potential of a company without saying so. Bashers never bash a bad stock. But now; I believe (imo) there should be some type of big news before the end of Q4...if not very soon after ! Cheers...thbg
PS. If you check the other board...yesterday I copied and pasted a email reply from the EVG-Austria (the company) that will supply the 3D panels for these projects "sometime in 2003"
see below and want to share with this board.
Dear Sir,
Following your inquiry we can inform you:
ad 1) Our company EVG will supply the manufacturing
equipment to produce the EVG 3D panels needed for the
construction of low cost homes in the Philippines and
Pakistan.
ad 2) We are not aware when construction will start but it
is expected that this will happen any time in the year
2003.
Best regards,
E V G
Strong volume today. 233K traded so far. Up 25%.
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Welcome to Ihub. Much more friendly environment than over at RB. Hope you enjoy it!!! I agree. Risk a few hundred dollars and wait to see what happens.
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Just join this new board...I' ve invested with WLFO about a year now and my position is long term. I can afford the risk. I see tremendous upside if the first project gets going, the others will follow...I like the idea of the humanitarian aspect and I see why the Philippines & Pakistan governments need these projects as millions of their citizens need an affordable roof over their heads !
thbg
New 10Q out. Not much new though. e/m.
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Thanks for the info. The paragraph you referenced is completely true. The whole thing is out of WLFO's hands. It is up to the two banks to get the deal done now. I understand what you mean by the "escape clause" but if it were me working in WLFO's place, I would have put a similar statement in. I wouldn't want to be held liable for something that I no longer control. The management is in the same position as everyone else now. Waiting with their fingers crossed. I appreciate the phone number but I have no interest in speaking with IR. They can't tell me anything I don't already know. It is just a waiting game now. We will see what happens.
BTW- I only invested a small amount of risk capital and losing it all would not hurt my feelings. I have done quite well recently on my large cap picks so a little loss on this would be nominal.
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xxray-I made the same argument re:10/16/02 8-K,I've exchanged numerous e-mails with someone who has spoken with Wulf,and Bruner.I was excited WLFO filed first,before latest PR,making the same argument that you do,they wouldn't file in the current atmosphere if it weren't true,as the SEC would come down hard on a false filing,or PR.If you read the latest 8-K,you will see this paragraph-"International loans of this size are very complicated in nature, must necessarily involve major international banks, and are subject to numerous banking and other regulations and disclosures. Any number of problems may arise that will prevent the transfer of the Yung Jin funds to Wulf International for its Philippines Project.",not in the standard disclaimer.This to me is nothing other than an "escape clause" in the filing,it is NOT in the disclaimer.WLFO has made this claim before,that financing was "imminent",and then nothing happened,to me,it's just more of the same BS.I have Wulf's private #,but I would suggest you call Joel Fesenfeld,the IR guy,at 800-646-4993 first,or talk to Bruner at americanloansource.If this is legit,and more positive financing news is released,it may test .50,there has been no dilution,and they claim no new common will be issued for funding,only "preffered" will be offered,we shall see.Good luck,I hope it all works out for you and you make a ton of $$,I do think you should do a search on all names mentioned in latest 8-K though,just to see what you come up with.-Ed
According to this 8-K, Mr. Bruner is an international businessman with 25 years of experience in the securities and venture capital businesses both in the US and internationally. He holds Texas Mortgage Brokers License #2902 and is Managing Director of American Loan Source Inc. He is a graduate of the Harvard Graduate School of Business. Additionally, The Joint Venture expects to receive funding from private sources for the development costs of the project so that construction can begin in the 4th quarter, 2002. I like the fact that this info and the subsequent info regarding the $500M in financing were first filed with the SEC by 8-K. It means they let the SEC know before the filed a press release. This is encouraging IMO.
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8-K from 08/29/2002
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(D) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) August 29, 2002
Commission file number 0-8638
WULF INTERNATIONAL LTD (formerly Wulf Oil Corporation)
(Exact name of registrant as specified in its charter)
COLORADO 83-0218086
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification Number)
2591 Dallas Parkway, Suite 300, Frisco, TX 75034
(Address of principal executive offices) (Zip Code)
972-292-3255
(Registrant's telephone number, including area code)
Item 5. Other Events
On August 27, 2002, Wulf International Ltd (Wulf) executed an Agreement with C.
Lee Bruner, Jr. of Grand Prairie, Texas to incorporate and register a mortgage
banking and brokerage company in the Republic of the Philippines. The purpose of
this new company is to provide mortgage funding for the buyers of the one
million new homes expected to be built by the Southern Philippines Development
Authority-Warisan Group Joint Venture (Joint Venture) for low-income families in
the Southern Philippines. Wulf is a partner and equity owner in this Joint
Venture.
Bruner agreed to incorporate, register and obtain the necessary license for a
mortgage brokerage and mortgage banking entity in the Republic of the
Philippines, subject only to (I) a determination that such entity is permissible
under Philippines law and (ii) that the Philippines Home Guaranty Corporation,
acting for and on behalf of the Republic of the Philippines, will provide said
entity with full Sovereign guarantees of repayment of both principal and
interest on all of the Joint Venture mortgages. All related expenses will be
paid by Bruner.
In return for the exclusive nature of the relationship between Bruner and Wulf,
Bruner agrees to pay to Wulf twenty-five percent (25%) of the Net Revenues
accruing from the mortgage financing of the houses built by the Joint Venture.
Net Revenues are defined as gross revenue less all related costs except
management fees, salaries, rent, travel and other overhead expenses which are
excluded.
Bruner will be appointed to the Executive Committee of the Joint Venture and to
the Board of Directors of Wulf. Mr. Bruner is an international businessman with
25 years of experience in the securities and venture capital businesses both in
the US and internationally. He holds Texas Mortgage Brokers License #2902 and is
Managing Director of American Loan Source Inc. He is a graduate of the Harvard
Graduate School of Business.
The Joint Venture expects to receive funding from private sources for the
development costs of the project so that construction can begin in the 4th
quarter, 2002.
SAFE HARBOR STATEMENT UNDER THE PRIVATE LITIGATION REFORM ACT OF 1995.
Statements contained in this document which are not historical fact are
forward-looking statements based upon management's current expectations that are
subject to risks and uncertainties that could cause actual results to differ
materially from those set forth in or implied by forward-looking statements
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
WULF INTERNATIONAL LTD
/s/ George R. Wulf
--------------------------------
Date: August 29, 2002 George R. Wulf, Chairman and CEO
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I have been watching it for a long time now. It's worth the risk IMO. Chartwise it has based out so I don't think there is much downside from my entry price. I think that a lot of people think it is a scam which is why the price is where it is. The problem with financing a project like this is every pencil pushing lawyer and banker between here and the Phillipines will want to put his/her signiture on the document so they can get their percentage. In other words, there will be a lot of hoops to jump through and a lot of red tape to cut. According to the PR I mentioned, they now have two banks working on it that actually have the ability to get the job done. Since the SEC hasn't stepped in yet and said anything about this deal, I am inclined to believe that they are actually on the job. I don't know if you have noticed it or not, but the SEC has been very active recently filing suits against Microcaps for false or misleading press releases. They have not done so yet against WLFO and with all the excitement generated by this particular PR because of the mention of two major banks, I suspect that they have looked at the situation. While I certainly can't be sure of this, I think my hunch is worth throwing a little risk capital into the mix. Also, most Microcap scams involve the selling of shares. WLFO share structure hasn't changed in ages. If this is a scam, I don't see how anyone is making any money from it. It is my belief that they are trying to get the job done but haven't had the backing or the resources. If the two banks mentioned are in fact on the case, it will just be a matter of time now as they do have the resources and the know how. Both will probably end up with about 5% each of the funding amount. That is $25M each and greed is a powerful motivator. LOL!
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xxray-be very careful w/WLFO,that's not the first time they've issued a pr saying financing around the corner,IMO,WLFO is a scam,not bashing,just asking you to do some more DD on Wulf.
Here is the press release that prompted me to buy in. Now you might say Geez, this came out last month, but I wanted to wait until the excitement ebbed and the price settled down. If they can get this financing deal done, it will mean very big things. The great thing is that they can duplicate this program over and over again once they get backing. They already announced a similar plan for Pakistan and I believe there are plenty of opportunities worldwide. I also like the humanitarian appeal of the project. Providing affordable housing for low income families is an honorable mission. Obviously there are not many people who believe that WLFO can pull it off. With a market cap of about $1M, there doesn't seem to be many believers. I, for one, think it is worth a gamble. Certainly there is a high degree of risk, but there is also an opportunity for a high degree of rewards should this project receive the funding it needs.
Wulf International Signs $500 Million Loan Agreement With Yung Jin International
Business Editors
FRISCO, Texas--(BUSINESS WIRE)--Oct. 16, 2002--Yung Jin International Investment Ltd has agreed to loan Wulf International Ltd $500 million to be used for Wulf's Philippines Low-Income Housing Project. Yung Jinis a wholly owned subsidiary of Sino American International Foundation Ltd, and the loan agreement was signed at their headquarters in Schenzhen, China.
Sino American first offered this loan in mid-January 2002. Since then Wulf has provided Sino American with detailed information on its 1 million homes project and all required corporate data. Sino American-Yung Jin has provided corporate data to Wulf and information on their business activities. This was followed by due diligence by both parties and a period of negotiations that has now resulted in a formal loan agreement. Today Yung Jin disclosed that their bank is Deutsche Bank of Germany and that they will provide more banking details later this week. Wulf has informed Yung Jin that it intends to engage ABN AMRO bank to handle the matter for Wulf. The terms and conditions of the loan are as follows:
-- The amount of the loan is $500 million for a term of 10 years.
Interest will be 3% payable in arrears. The term may be
extended by mutual consent of the parties for an additional 10
years.
-- Wulf must use the loan funds for its Philippines Low-Cost
Humanitarian Housing Project.
-- Wulf must provide to Yung Jin as collateral a bank guarantee
in the amount of $500 million for a term of 10 years or lesser
terms if mutually agreed to by the parties.
-- The loan transaction shall be executed on a bank to bank
basis.
In addition to its main office in Schenzhen, Sino American International Foundation Ltd has disclosed that they have offices in New York City, Hong Kong, and Kuala Lumpur. Further, they disclosed that their company is engaged in making loans for humanitarian projects both inside China and in other countries. Recent loans described by Sino American include funding for a rural electrical power project in Malaysia and similar humanitarian loans for projects in Mongolia and Zimbabwe. The Chairman of both Sino American and Yung Jin is Mr. Zhipu Chai, former Deputy Minister of Energy and Environment in the Chinese Government.
International loans of this size are very complicated in nature, must necessarily involve major international banks, and are subject to numerous banking and other regulations and disclosures. Any number of problems may arise that will prevent the transfer of the Yung Jin funds to Wulf International for its Philippines Project.
SAFE HARBOR STATEMENT UNDER THE PRIVATE LITIGATION REFORM ACT OF 1995.
Statements contained in this document which are not historical fact are forward-looking statements based upon management's current expectations that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by forward-looking statements
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
--30--mjr/da*
CONTACT: Wulf International Ltd
George R. Wulf, 972/292-3255
KEYWORD: TEXAS CHINA INTERNATIONAL ASIA PACIFIC
INDUSTRY KEYWORD: BANKING MARKETING AGREEMENTS
SOURCE: Wulf International Ltd
Today's News On The Net - Business Wire's full file on the Internet
with Hyperlinks to your home page.
URL: http://www.businesswire.com
-0- Oct/17/2002 16:52 GMT
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Welcome to the WLFO board!!!
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