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Special thanks to love-your-neighbor stock pick, nice to log into my account after weeks of racing and see that I've made a very good trade, my confidence is high on Love's recommendations and trading ability. The stock was WEYL and is the first "tip" ive ever traded on. Thanks LOVE- I will hold my ITKH just because you're still here. Best- RTE
Sorry guys..I've been racing at the Go Pro Motorplex in NC and not looking on here. On the question about filing if you own 50% of SG...No, I don't think ITKH can "claim" 50% of the income as it's on. On the financial reports filed with edgar or OTCPINK which uploads to edgar, this is a "consolidated" earnings report. FASB rules require 80% or more before you can "Consolidate" the earnings or upload to edgar. Of course, ITKH can do what it wants...there's no "filing police" to say "Hey, you can't do that" but I don't think filing 50% of a subsidiary company you own is proper through edgar. My thought is, this is an attempt to provide a "trail" so as to not deem the company a "shell" nothing more. Whether it is or isn't, whether Fred is filing this wrong or not is up to others to decide. For me, I wrote my shares off last year. I think Fred has the ability to do something but like Jeb Bush...I think he just doesn't have the energy or the money right now. But I still like him a lot and would invite him over (and you guys too) for some good ole Western, NC Pork BBQ! Yum Yum.
Just my own opinion...
-RTE
WAR- This ones a dud...all the hype is so a few guys can sell out I wrote ours off end of 15'. Nothing here, they can't even report SG's #s That's just irresponsible and possibly illegal to sell stock. Not like Fred to do that, something has changed here and not for the better.
WW-no value here, find another obeonekanobee...
Oh yes, your stock recommendation is really interesting and up my ally. I read their Press Release, they put an entire book in that Press Release and that's my kind of management - one that is frugal with investor money. I think I'll move my lost out of ITKH and pick up a few. Thanks for the recommendation. One little "moonshine" Bank stock...and if you can get shares is GTSB. Thanks again, I'm going turn in.
-RTE
Oh yes, I agree with the three bad deals, I was meaning "some deals go bad" meaning some stock investments go bad. I also don't think ITKH can consolidate the earnings with 50% of a company so that makes the value in the stock very low. Also, if its a "holding company" at this point...it's deemed an "Investment Company" in relation to the 1940 act not the 1933 act. If that's not the case...it's now a shell and they can't issue shares without an S1 and not sure any brokerage will hold them if they let the DTC fall off... I would be very careful buying here...but I agree 3-bad deals three strikes. Time to move on
-RTE
Yes, I saw that offer...I don't know VB- he's not on my list of "Money Makers" but Fred was...and why I bough my stock long ago. I hear a company like this actually running is one in a million and just not my style since it will take bogus PR's or some trap. Not big enough money for me to mess with. If you have other stocks I should look at that you like, please advise. I like these small companies and I like to stay with them and help them get real bank financing if they have good management. Money is 3% right now, equity is too expensive for a company like this, they should have a debenture out or debt offering. If they do that, we should seriously look at it if you have the stock too. I would invest with FW, I just don't know this Vincent Brown fellow.
Kind regards,
-RTE
Some deals go bad...I have a few books I'd like to recommend if you guys have some stocks I should be looking at. I mostly buy and hold and like good CEO's. I'm not afraid of STOP SIGN PK's because most of them trading over $1 are really undervalued just might be majority owned by one person. Here is a starter book and movie list just for fun to wash down the flames of ITKH...
Books- (Get these on amazon for $3 each and enjoy!)
"McColl" The man with America's Money (story about Hugh McCall making Nations Bank into Bank of America)
"Cable Cowboy" The story about John Malone (my favorite media guy!)
"Meet Julius Abernethy" (This book is way out of print but I found some on Amazon, his grandson is on my board but this is an amazing story of stocks and the south) Highly recommended.
"How to be Rich" by J Paul Getty old book but great reading...
"Fuqua" (this is the story of JB Fuqua from Georgia and the conglomerate wave and how he took a pinksheet and built into a billion dollar conglomerate that inspired me to try it)
"Tandy's Time Machine" (this is the pre radio shack days and how Charles Tandy took a pinksheet leather company and turned it into Radio Shack)
"LING- The making of a Texas Titan" great book about James J. Ling the conglomerate king of the go go 1960's way out of print but if you can get one, great reading on how he sold stock at the texas state fair and from that to almost 4-billion company before imploding in the early 1970's...great stock book.
"The Magic of Mergers" s story about Meshulam Riklis the guy who married the blond from Green Acres and built a billion dollar conglomerate all from trading stocks and merging..."
All these books are old and no one knows about and really off the wall but make good solid reading about real stock market operators and strong "real men" CEO's.
I would appreciate any book or movie recommendations you might have.
Movies;
Limit Up
Other Peoples Money
Millionaire
Barbarians at the Gate
Youtube search these title for free on the Cable Center and listen to how these guys made it...I know Frank.
John Malone
Frank Drendel
Side recommendations: Magnum PI all seasons I wish I had friends like Rick and TC., Remington Steel and Hart to Hart!
Thanks for taking an interest in my recommendations I hope I gave you some things you normally wouldn't know about. Merry Christmas...
-RTE
This one could be a dud. The 50% SG’s value could be negligible. Maybe what we’re seeing is a Reverse Merger with the telecom in Texas. At least this shell is clean, the debts aren’t big. I could use the W/O this year. Sorry, I feel like the spoiler on this one.
Should see some sort of capital raise here or some offering, need money in the treasury or some stock rolling out here. I'm holding hope but won't add to the position until a catalyst reveals itself - next filing due on or before Feb. 15th. I agree with "silence" until a deal is done so my guess is you won't see anything until the Feb. filing. If we do see something...I hope its a closed deal and no more LOI's or HAP's (Letter of Intent and Hope and Prayers) Just my opinion...-RTE
Tread carefully...Tread carefully...
That's a positive. Hang in there guys just watch it closely. -rte
Reading the quarterly report you will see itkh sold 49% of SG (to Jeff Kazon) now, we have to question why the financials are consolidated. I don't want you guys to see anything in this but your own conclusion and understanding the tea leaves. Hopefully, they'll close that deal in Texas. Itkh has done a good job of disclosing however I just disagree that they can consolidate the earnings now - so this leaves us with what is the value of the 51% of SG? So you take the "amounts due shareholders" from the balance sheet and divide that by shares outstanding should give relative value. They're were shares cancelled with the swap (from Jeff) as well but I didn't see those shares returned to treasury or cancelled - so who owns those shares? Lots of questions and not sure the upside is worth worrying about. I might write this one off. But I enjoy the math. Tread carefully on this one but reading their disclosures should give you some interesting reading. Happy holidays...
I believe that FW is Guaranteeing the debt or JK is using the assets to secure the debt, but ITKH only owns 50% now, so they'd only be responsible for 50% of the debt. The risk reward is...is the remaining equity in the 50% worth the chance if SG goes bad. Too early to tell. Usually, I've seen management make these changes after they do a deal so as to not be deemed a "shell" but in my mind, this is where this is going. Nothing wrong with that but you should see capital engagement, private placement(s), or something in their filings that's a "signal". I've done deals where my shareholders knew about the pending LOI/Contract and they asked me to put out a release but I wouldn't I did put a one liner deep in the quarterly filing that just got me by, if someone was really watching they would have caught it and could trade but too many things can go wrong than right so its just better to PR once its closed and my reputation unspoiled. I don't think ITKH can report SG on their financials because of GAAP rules. For now, its just an investment in my mind they should not report its results...and restructure for growth that's what I'm looking for soon I hope...
I would just be careful here with the earnings...If you can't consolidate the earnings, meaning, if you don't own 80% or more, the only balance sheet you can report is "cash flow aval. to shareholders, and that's a negative number now. Upside is there isn't debt. However, FW needs a hail marry here or the value is zero soon...there is only a few ways to build equity if you don't on 80%. That's a problem if they don't get a deal done quick- sorry for the bad news...this might be a Dec. 31st W/O for ole RTE here.
Buyer here for Randall Bearing Common, certificated form OK. Contact me on this site, Brokers OK. -RTE
Wanting to buy some stock here...Most in certificated form, let me know if you want to sell your stock, founders stock (with warrants) or certificated. Thanks! -RTE
Also, not sure you can consolidate earnings when you sell 49% (GAAP rules require you to own 80%) of the company. FW did a swap with JK on SG. Was hoping they'd wrap up Texas 1st. Tread carefully here...
Still wanting stock on this one. this is a grey sheet so no bid or ask posted, just respond to this site if you want to sell some stock or know where some is. Brokers/finders welcome Thanks! -RTE...
WW, I just don't know, really admired FW for keeping the company steady, would've like to see an offering and a business plan that would eventually lead to LOI's et al. But I'm a better investor than trader- to my way of thinking, if I see a lot of PR's about LOI's it don't look good- and I really think LOI's can be private at least until they turn into a contract. Now, other Telecom roll-ups now know about the Texas deal, and a deal ain't a deal until its a signed deal (some listed on the OTC are serial acquirers search for sic code 4813 to find them). LOI's are usually not binding. Sorry for the book here, WW, I'd like to see them engage a Banker and tell us that which is a signal that more is to come, or tell us nothing and BAM! they close a deal and the stock grows for the right reasons...IMO, but you're doing the right thing staying alert WW, Happy trading...
Bugs, good observation. If a current PR need for future funding...we've invested in the wrong company. They say in Texas, "It ain't bragging if its true" and it can only be true once a deals done...Then PR it to death, otherwise, they're raising money and maybe not for the reason they're promoting...be careful of the Road Runner Bugs...Happy trading...
Good CEO's don't PR LOI's Great CEO's only PR once a deal is closed or until they HAVE to disclose. Why would they "let the cat out of the bag" and invite competition on a make or break transaction that could hurt the company if another shark comes in and takes the deal away...there are always sharks...
Great little Moonshine bank strong earnings and hard to get shares. Never been so excited to get a few shares, recent 15c211 filed. Long term play- MM's are working to get this one trading to unlock real values Someone doesn't want you to see...trades by appointment.
Even though VB is in this deal, it wouldn't prejudice me doing business with Fred. Maybe he'll close that Texas deal - real deals take time.
Thank you for the post. I was able to get some shares a few days after I bid. I have lots of CVST shares. Its a long term hold I am not worried about that one.
Looking to buy some stock here, if you have some let me know. Grey Sheet - you have to call your Broker and I will call mine. Let's trade\![t][/t]
The main number is 828-324-4611 you can ask for the CEO or the CFO and leave a number, I think they will call you back they have us. I've seen their work before and it takes time but they are real long term players.
the best thing in life is free: Here's something free, these guys know what they're doing and real deals sometimes takes years. Likely the OS will decrease and not through a RS but shares repurchase. If you look at their NOL's over 70mm you can't change control fast- takes three years (see section 362 IRS Code)so this is a 3-4 four year project.
+;l
NOLs and Shell Value
no disrespect on this- NOL's can't be used in a R/M if the survivor owns majority. The NOL's can only be taken to the amount the majority invests. Pink Shells go for about 50-150k so that will be about what the NOL will be (this is an IRS Rule, I think code #356).
Very doubtful the investment firm "bought the losses" since this is a "C" Corp and the losses can't pass through. They just simply lost their money. I bet you could call them and buy their shares in a private transaction for less than market if they even want to fool with it. My guess is they already realized the loss.
It would just not make any sense to "lock" the money in a bankrupt pink when they could just buy Bank of America, loose the same amount and still sell and get some of ther cash back. This way, they will never been out of it- until they sell it (who would buy it?).
It would be hard to invest in a company preparing for an R/M. The majority usually issues itself voting shares or more common and the float will be very small. Then, usually they will reverse to get the share structure right and the float will shrink.
While I am sure it is possible to invest in a pink that is preparing for a R/M- it just seems awfully risky and a waste of time.
One good way to find a good pink is to find one with shares that are trading at high prices with "no information". If you see one trading at $10 a share with little volume. You might find they have only 200,000 shares out. Now, you've found a great company to investigate and research. You can buy 1-share and request an annual report and see what's in there.
R/M's are fun- but you really need to be in one after the R/M not before. Remember the majoirty has to hold their shares for 1-year post RM. Wait that year, and see what they do- that's what you do.
-RE