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NO, and investor relations has a call into the company as they were blind sided with the 8k as well. Have a call into corporate waiting for some answer to both. And this BS that they are trying to arrive at an amicable settlement is just that BS. They need to get their financing straight and NOW.
The Jason Lewis show spent an hour last Thursday night praising the Wall Street Journal article and the Stem Cell publication quoting Dr. Robert Lanza and the adult stem cell and egg combination to create a stem cell rich blastocycst. http://www.sciencedirect.com/science/article/pii/S1934590914001374 He has a several million listener-ship in the conservative talk radio niche and is broadcast in 24 states. Wonderful free advertising and the show was fantastic talking up what he called one of the premiere discovery's in medicine today, that would lead to major medical breakthroughs of Alzheimer's, heart disease and the like. If you want to go listen to the show referenced you can get it here.... http://www2.jasonlewisshow.com/jasonLewisShow.php. The show is on the first hour of April 17th. I was unable to listen to the other two hours to see if he continued with the subject matter.
Cheers
Researchers Clone Cells From Two Adult Men
http://time.com/65610/cloning-cells-from-two-adult-men/
This has hit the news in Dozens of publications.
The Jason Lewis show spent an hour last night touting the Wall Street Journal article and the Stem Cell publication quoting Dr. Robert Lanza and the adult stem cell and egg combination to create a stem cell rich blastocycst. http://www.sciencedirect.com/science/article/pii/S1934590914001374 He has a several million listener-ship in the conservative talk radio niche and is broadcast in 24 states. Wonderful free advertising and the show was fantastic talking up what he called one of the premiere discovery's in medicine today, that would lead to major medical breakthroughs of Alzheimer's, heart disease and the like. If you want to go listen to the show referenced you can get it here.... http://www2.jasonlewisshow.com/jasonLewisShow.php. The show is on the first hour of April 17th. I was unable to listen to the other two hours to see if he continued with the subject matter.
Cheers
I have been here for awhile just watching.
Apparently we have lost the the concept of value in stem cell and biotech research to a society bent on instant gratification. When I open the news app and find that Facebook is paying 19 Billion for a simple communication app called whatsupp... I am thinking whats up with this picture.
Stem cells and biotech bring the holy grail of healthy and long life to the current 7.4 billion people on the planet. When we poo poo and downplay or poorly promote this life saving science we are doing the world a horrible injustice. ACTC brings to the table several stem cell breakthroughs that can change the world of blindness, cure devastating diseases and produce enough blood for the serious conditions to never having a plasma shortage ever again. The need to constantly beg for blood donations would be a long forgotten thought.
ACTC should have a valuation that far surpasses any app like whatsapp, candy crush or flappy bird. So apparently mindless games and gossiping has taken the drivers seat in expanding the economy which is doomed to fail as the mindless become bored with yet another social fad.
Let's work to to fund and promote a technology that will ad value and cure the suffering of the human condition rather dumbing down the the masses.
Don't be surprised if there is a .47 offer to buyout ACTC within a year with a new ticker symbol and 100-1 reverse split.
Good Read: Stem Cell Advance: The Little Liver That Builds Itself
commonhealth.wbur.org/2013/07/stem-cell-live
I almost fell out of my truck when I heard Dr. Lanza say that after the MS stem cell treatment within so many days the mice were up jumping around and cured. I can't even fathom the value of a cure for MS.
Did I hear corectly in the interview on Coast to Coast that Dr. Robert Lanza said that they have CURED lab mice of MS with stem cells in 6 days???? Link to audio ~ coasttocoastam.com/show/2012/06/05
Robert Lanza
@robertlanza Robert Lanza
Important clinical results should be published in a top peer-reviewed medical journal -- not the media. I think you’ll be happy we waited.
So which Peer-Reviewed World Class Medical Journal might publish the preliminary results and when is the next release date? Most Journals for January have either hit the stands or are on the way. Early Christmas? Who knows.
www.stemcellresources.org/library_journals.html
Stemcells.nih.gov
Top 20 Medical Journals
Sooo Was this the Good News or Bad News Today?
Stem Cell Transplant Patients
at Greater Risk for Long-Term Health Problems
Read more: http://www.foxnews.com/health/2011/12/10/stem-cell-transplant-patients-at-greater-risk-for-long-term-health-problems/?test=faces#ixzz1gFBTwoxJ
What the heck is going on with Turek making filings on this dead shell back in June? Give me a break.
http://finance.aol.com/company/telco-blue-inc/tblu/nao/10-Q/08883974/html/sec-filings
Is anyone watching this stock?
AIG to Sell ILFC to Management Group,
Udvar-Hazy Says (Update2)
By Thomas Black
Nov. 21 (Bloomberg) -- American International Group Inc., the insurer bailed out by the U.S., will sell its plane-leasing arm International Lease Finance Corp. to a group of investors and the unit’s management by early next year, an executive said.
“Early next year, we will consummate the closing,” Steven Udvar-Hazy, the founder and chief executive officer of the unit known as ILFC, said in an interview in Cancun, Mexico. “One thing is to reach a deal. It’s another to close the deal.”
Udvar-Hazy’s comments, made at an aviation conference, confirm his involvement in the purchase and the time frame for a sale of ILFC, one of the biggest buyers of commercial jets from both Boeing Co. and Airbus SAS. The U.S. government took a controlling stake as it rescued AIG with an infusion of capital on Sept. 17, and authorities decided to sell all units that aren’t related to AIG’s insurance business.
“We’re in the process of selling ILFC to a group of investors including management that will take back the company from AIG,” he said earlier at the conference. He suggested the unit had a value of about $10 billion and didn’t identify the investors.
ILFC will separate from AIG, which bought the airline- leasing company in 1990 for $1.3 billion, because of financial losses caused by a small AIG unit that engaged in “very high risk-profile business,” Udvar-Hazy said.
AIG rose 16 cents, or 11 percent, to $1.60 at 4:15 p.m. in New York Stock Exchange composite trading. The shares have dropped 97 percent this year. Nicholas Ashooh, an AIG spokesman, didn’t immediately respond to a telephone message left with him.
$10 Billion Value
Udvar-Hazy implied that ILFC has a value of about $10 billion. He said that AIG’s market capitalization, not counting the stake of almost 80 percent owned by the government, is less than $5 billion or “a little more than half of ILFC’s value.”
The pending sale is “extremely good news” for both AIG and ILFC, Richard Aboulafia, an analyst with aviation consulting firm Teal Group in Fairfax, Virginia, said in an interview.
For ILFC, “no matter how sound the fundamentals of their business were, they were being dragged down by AIG’s negatives,” Aboulafia said. “For AIG, it’s good news because they need the money.”
Aboulafia said Udvar-Hazy has track record of making a profit in aviation and that he’s probably the aviation industry’s most powerful executive as a key customer for jets. “He created this, he can run it,” Aboulafia said.
ILFC, which Udvar-Hazy founded in 1973 and took public 10 years later, will have revenue this year of about $5 billion. Net income for the first nine months of this year was $913 million, a 39 percent increase from $657 million for the same period last year, he said.
Total assets have topped $50 billion for the first time, he said. The company had assets of $6 billion when bought by AIG. At the end of last year, total assets per employee were $262 million, up from $225 million in 2004. The goal for total assets per worker is $300 million for 2009, he said.
To contact the reporter on this story: Thomas Black in Monterrey, Mexico, at tblack@bloomberg.net.
Last Updated: November 21, 2008 19:34 EST
http://www.bloomberg.com/apps/news?pid=20601103&sid=aq3AmQ5OQ1Ss
EXTREME MOTORSPORTS OF CALIFORNIA, INC.
Business Entity Information
Status: Default on 10/1/2008??????
File Date: 9/12/1996
Type: Domestic Corporation Corp Number: C19349-1996
Qualifying State: NV List of Officers Due: 9/30/2008
Managed By: Expiration Date:
Additional Information
Central Index Key: XMTS
Registered Agent Information
Name: CRA OF AMERICA, INC. Address 1: 3638 NORTH RANCHO DRIVE
Address 2: City: LAS VEGAS
State: NV Zip Code: 89130
Phone: Fax:
Mailing Address 1: Mailing Address 2:
Mailing City: Mailing State: NV
Mailing Zip Code:
Agent Type: Commercial Registered Agent - Corporation
Jurisdiction: NEVADA Status: Active
Financial Information
No Par Share Count: 0 Capital Amount: $ 33,333.333
Par Share Count: 33,333,333.00 Par Share Value: $ 0.001
Officers Include Inactive Officers
President - ALAN MCCAA
Address 1: 3638 N RANCHO Address 2:
City: LAS VEGAS State: NV
Zip Code: 89130 Country:
Status: Active Email:
Director - CLIFF MCCAA
Address 1: 3638 N RANCHO Address 2:
City: LAS VEGAS State: NV
Zip Code: 89130 Country:
Status: Active Email:
Secretary - KINLEY MCCAA
Address 1: 3638 N RANCHO Address 2:
City: LAS VEGAS State: NV
Zip Code: 89130 Country:
Status: Active Email:
Treasurer - NONE
Address 1: 3638 N RANCHO Address 2:
City: LAS VEGAS State: NV
Zip Code: 89130 Country:
Status: Active Email:
Actions\Amendments
Action Type: Articles of Incorporation
Document Number: C19349-1996-001 # of Pages: 1
File Date: 09/12/1996 Effective Date:
(No notes for this action)
Action Type: Amendment
Document Number: C19349-1996-003 # of Pages: 1
File Date: 09/24/1996 Effective Date:
(1) PG SDB
WORLD VIEW CONSULTING COMPANY, INC. SDBB 00001
Action Type: Amendment
Document Number: C19349-1996-004 # of Pages: 1
File Date: 12/26/1997 Effective Date:
(1)PG CHM
SOLOMON REPORTER, INC., THE CHMB s 00002
Action Type: Registered Agent Change
Document Number: C19349-1996-005 # of Pages: 1
File Date: 09/24/1998 Effective Date:
CORPORATION TRUST CO. OF NEVADA
ONE EAST FIRST STREET RENO NV 89501 RAJ
Action Type: Amendment
Document Number: C19349-1996-006 # of Pages: 1
File Date: 05/13/1999 Effective Date:
(1)PG. DMF
POCKETS HOLDING COPORATION DMFB . 00003
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(No notes for this action)
Action Type: Merger
Document Number: C19349-1996-007 # of Pages: 2
File Date: 06/17/1999 Effective Date:
ARTICLES OF MERGER FILED MERGING INWORLDS.COM, INC., A (DE) CORPORATION NOT
QUALIFIED IN NEVADA, INTO THIS CORPORATION. (2)PGS. DMF
Action Type: Amendment
Document Number: C19349-1996-008 # of Pages: 1
File Date: 06/18/1999 Effective Date:
(1)PG. MMR
INWORLDS.COM, INC. MMRB{ 00004
Action Type: Registered Agent Change
Document Number: C19349-1996-009 # of Pages: 1
File Date: 07/07/1999 Effective Date:
LAUGHLIN ASSOCIATES, INC.
2533 N. CARSON STREET CARSON CITY NV 89706 CXE
Action Type: Annual List
Document Number: C19349-1996-002 # of Pages: 1
File Date: 10/16/1999 Effective Date:
List of Officers for 1999 to 2000
Action Type: Registered Agent Resignation
Document Number: C19349-1996-010 # of Pages: 1
File Date: 09/17/2002 Effective Date:
NEVADA AGENCY & TRUST COMPANY SUITE 880
50 WEST LIBERTY STREET RENO NV 89501 RAA
Action Type: Reinstatement
Document Number: 20050329543-43 # of Pages: 1
File Date: 08/18/2005 Effective Date:
(No notes for this action)
Action Type: Acceptance of Registered Agent
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File Date: 08/18/2005 Effective Date:
(No notes for this action)
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File Date: 02/01/2006 Effective Date: 01/31/2006
FED EX 020206
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File Date: 01/09/2007 Effective Date: 01/08/2007
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https://esos.state.nv.us/SOSServices/AnonymousAccess/CorpSearch/CorpDetails.aspx?lx8nvq=oXI2e7N7LRgKVTlWUCz1sQ%253d%253d
Good news at last for AIG
Thursday, 13 November 2008 11:10am
At last some good news for AIG Life Australia with the company announcing a major upgrade of their insurance suite while also coming runner-up in the CoreData Life Company of the Year awards.
The firm's Priority Protection insurance suite is receiving a facelift with the introduction of Optimum Premium cover.
The cover is a hybrid between stepped and level premiums, initially providing the low cost of a stepped premium up to a point when it changes to level premium at a certain period in time.
Optimum Premium could save clients thousands of dollars in premiums and allows financial advisers to keep business on the books for longer, said David Mounsey, AIG Life head of adviser services.
AIG Life also launched its forward underwriting benefits service, which allows clients to take a medical test now and receive up to $10 million of crisis, life or total and permanent disablement (TPD) insurance in the future if specific events occur.
The definitions for coronary artery angioplasty, heart attack and heart valve surgery have all been revised and enhanced from December while the firm also announced a $10 million, three-year technology upgrade program to move its business to straight through processing (STP) technology.
Meanwhile, AIG Life scored the ‘runner-up' award in the CoreData Life Company of the Year 2008, just behind Zurich but beating fellow finalists AXA and Asteron.
During the upgrade launch, AIG Life Australia managing director, Stuart Harrison sought to ease financial advisors' concerns over the health of the life insurer, reiterating the separate relationship with its parent company.
Harrison said the firm posted all time record production figures in September, with $27.6 million in first year premiums and dismissed concerns the life insurance company would be sold.
Michael Hobbs
http://www.financialstandard.com.au/news/view/24503/
AIG Closing 178 Branches, Including All Those In State
November 13, 2008
American International Group Inc. said it will close 178 branches, including those in Connecticut, of the money-losing consumer finance unit it is trying to sell.
About 380 jobs will be eliminated.
The unit, American General Finance Inc., will take a pretax charge of about $13 million in the fourth quarter tied to the closings, the company said today in a regulatory filing.
AIG's CEO, Edward Liddy, is cutting risks tied to U.S. mortgages after four straight quarterly net losses totaling more than $40 billion. The business is among units Liddy has said he'll sell to repay the loan portion of a $150 billion government rescue package.
All branches in Connecticut, Maine, Massachusetts, Rhode Island and New Hampshire will be closed.
—From staff and wire reports
http://www.courant.com/business/hc-bizdigbrf1113.art4nov13,0,5436183.story
AIG Board Nears Approval of Rescue Plan Overhaul
The board of insurer American International Group was Sunday night in the final stages of approving a large overhaul of its previous $85 billion rescue plan from the U.S. government, according to people familiar with the matter.
As part of the plan, the U.S. government is expected to roll back the length and interest rate of its existing loan, buy $40 billion in preferred AIG shares through the U.S. Treasury's Troubled Asset Relief Program, and cancel the bulk of its credit default swap agreements via a massive purchase of their underlying real estate assets. There is also a plan to backstop AIG's securities lending portfolio. In all, the U.S. will end up with total exposure of some $150 billion in investments.
The plan is a tacit admission that as AIG's 79.9% owner, the government now has a vested interest in seeing it thrive, rather than demanding punitive terms for its assistance. Yet the new plan also gives the government an unprecedented, and uncomfortable role as an actor in financial markets. The new government role is sure to draw greater scrutiny from lawmakers as they prepare to revamp the regulatory system for the financial sector.
The changes follow widespread criticism of the original rescue plan, which would have required AIG to quickly sell assets into a declining market while also paying steep interest rates on its loans.
That plan also failed to adequately address the main challenge facing the insurer – how it was hemorrhaging billions on credit default swaps and other financial instruments – as it posted collateral to nervous counterparties.
The revised structure is designed to improve both AIG's ability to sell assets for a decent price and the taxpayer's ability to recoup the money that has been pumped into the insurer. It also transfers to the government many of the risks once nominally absorbed by AIG, potentially exposing the government to billions of dollars in future losses.
Under the plan being finalized on Sunday night, the government would replace its original $85 billion loan with a 2-year duration with a $60 billion loan with a five year duration. Interest on the loan would drop from 8.5% plus three-month Libor interest-rate benchmark to 3% plus Libor.
In addition, the government would tap the $700 billion Troubled Asset Recovery Program to inject $40 billion into AIG in return for preferred shares. Those shares would carry 10% annual interest payments. The government's equity interest in AIG would remain at 79.9% following the changes.
The government's initial intervention was driven by concern that AIG's failure to meet it obligations in credit default swap market would create a global finanicial meltdown. While government bailout in mid-September gave AIG enough money in the short-term, it didn't provide a solution to the problem.
Under the revised deal, AIG would transfer the troubled holdings into two separate entities that would be capitalized by the government.
The first such vehicle would be capitalized with $30 billion from the government and $5 billion from AIG. That money would be used to acquire the underlying securities with a face value of $70 billion that AIG agreed to insure with the credit default swaps. These securities, known as "collateralized debt obligations" are thinly traded investments that include pools of loans. AIG would seek to acquire the securities from their counterparties on the credit default swap contracts for about 50 cents on the dollar.
A second vehicle would be set up to solve the liquidity problems in AIG's securities lending business. The business involves lending out securities to short sellers or others and investing the collateral for gains. The strategy for many has lately backfired as once-reliable credit investments have seized up.
AIG has scrambled to unload illiquid assets in order to give back the collateral it accepted. AIG's exposure to this market forced it to seek a $37.8 billion lending facility from the government to cover its commitments.
Under the new plan, the government would inject about $20 billion into the securities lending vehicle and AIG would put in $1 billion. The vehicle would then buy the illiquid securities the AIG unit holds, known as residential mortgage-backed securities, for about 50 cents on the dollar. AIG would use the proceeds to shut down the $37.8 billion lending facility which is has not yet fully tapped.
The strategy behind these moves is to allow AIG to operate under more stable conditions without having to worry about continued losses associated with credit default swaps and securities lending.
"This approach solves the problems with the two black holes," said one person familiar with the plans.
Over time, the assets held by the two vehicles could recover in value and the government may eventually make money on the investment.
Still, the challenges facing AIG are enormous. With so much uncertainty about its future, it is battling to retain some key business customers as well as valuable employees in its operating units. A key goal is improving AIG's capital structure to give the property-casualty-insurance units a better chance to remain profitable and avoid punishing ratings-agency downgrades; the company's ratings have been under review for possible downgrade at most of the major ratings firms. The existing Federal Reserve loans are proving onerous at a time when rivals are trying to grab business from AIG's core property-casualty unit and AIG may need to cut prices to retain some customers.
Write to Matthew Karnitschnig at matthew.karnitschnig@wsj.com, Liam Pleven at liam.pleven@wsj.com and Serena Ng at serena.ng@wsj.com
http://online.wsj.com/article/SB122627437470412029.html?mod=yahoo_hs&ru=yahoo
AIG, U.S. in talks to restructure loan: source
* Friday November 7, 2008, 6:03 pm EST
http://finance.yahoo.com/news/AIG-US-in-talks-to-rb-13508428.html
By Paritosh Bansal
The logo of American International Group (AIG) is seen at their offices in New York September 22, 2008. REUTERS/Eric Thayer
The logo of American International Group (AIG) is seen at their offices in New York September 22, 2008. REUTERS/Eric Thayer
NEW YORK (Reuters) - American International Group Inc (NYSE:AIG - News) is in talks with the U.S. government to restructure the troubled insurer's credit facility, which could lead to the government buying AIG preferred shares worth several billion dollars, a source familiar with the matter said on Friday.
The talks are at a sensitive stage and it is not a done deal, with terms still being worked out, the source said. An announcement could be made as soon as this weekend or on Monday, when AIG is due to report its quarterly results.
The government extended AIG, once the world's largest insurer, $85 billion in bailout financing in September, and later raised the loan to $123 billion.
The initial credit line has a two-year term, carrying a steep interest rate. AIG also had to grant the government warrants for a nearly 80 percent stake in the company.
As of November 5, the insurer owed $81.2 billion -- $61.3 billion under the $85 billion credit facility, and $19.9 billion under a subsequent $37.8 billion securities lending agreement.
The terms being discussed include a reduction in the interest rate and increasing the term of the existing loan, which could be extended to five years, the source said. Currently the loan carries an interest rate of 8.5 percent over the London Interbank Offered Rate, which sets the cost of borrowing between banks.
An equity injection through preferred shares may also come with a reduction in the size of the $85 billion facility, the source said.
The talks with the government also include the possibility of setting up vehicles to reduce cash drain on AIG associated with credit default swaps and securities lending, the source said.
Among the options being discussed is a plan to set up a facility where the government would buy residential mortgage-backed securities from AIG's securities lending portfolio.
The size of the facility is unclear and the final figure could change substantially, but in talks earlier this week the size being considered was $20 billion to $25 billion, the source said. Such a facility would wipe out the one for $37.8 billion created in October, the source said.
Under the other vehicle, the government would buy some of the bonds underlying credit default swaps, a type of insurance contract providing the buyer with protection against risk. Such a facility would be offset by the cash collateral of about $30 billion that AIG has posted to back those CDS and that the government can expect to get back, the source said.
The size of such a facility is also under discussion and could again change substantially, but in talks earlier this week it was seen to be in the range of $60 billion to $70 billion, the source said.
"This is really just the portion of the credit default swap book that has caused like 90 percent of the writedowns," the source said. "They will only take out the bad stuff."
AIG spokesman Joe Norton said, "AIG continues to work on its plan to find a permanent solution to its liquidity losses, sell assets so it can repay the Federal Reserve Loan with interest, and explore other avenues to help AIG restore its financial health."
(Additional reporting by Lilla Zuill; editing by John Wallace)
(For more M&A news and our DealZone blog, go to http://www.reuters.com/deals)
Financials moving from AH to Premarket can't be all bad.
Most companies releasing bad news seem to do so AH on Fridays. Mixed results are AH or mid day during the week. Good News then Premarket? Who the heck knows?
I happen to think they will release new & better financing terms with the FED and better than expected numbers in the loss category. All IMO
AIG to release third-quarter results Monday morning
By Wallace Witkowski
Last update: 4:18 p.m. EST Nov. 7, 2008
Comments: 1
SAN FRANCISCO (MarketWatch) -- American International Group Inc. (AIG:
American International Group, Inc
News, chart, profile, more
Last: 2.11+0.24+12.83%
4:01pm 11/07/2008
AIG 2.11, +0.24, +12.8%) said late Friday it will release its third-quarter results on Monday at 6 a.m. ET. Previously, the company was scheduled to report its results after market close on Monday. Analysts surveyed by Thomson Reuters estimate a third-quarter loss of 90 cents a share.
http://www.marketwatch.com/News/Story/Story.aspx?guid={A4C9FB95-83C6-489F-B73F-A7DE9F9E7C4F}&siteid=yhoof2
AIG to sell 3 Japanese life insurance units
Associated Press 10.04.08, 7:43 AM ET
http://www.forbes.com/feeds/ap/2008/10/04/ap5508938.html
EDGAR (8-K) Current report filing
http://ih.advfn.com/p.php?pid=nmona&cb=1219699592&article=27801844&symbol=NB%5EASFG
Aftersoft Group Announces That Gerald M. Czarnecki Has Joined its Board
http://ih.advfn.com/p.php?pid=nmona&cb=1219699592&article=27801056&symbol=NB%5EASFG
Securities Registration Statement (S-1/A)
http://ih.advfn.com/p.php?pid=nmona&cb=1219699592&article=27695604&symbol=NB%5EASFG
Securities Registration Statement (S-1/A)
http://ih.advfn.com/p.php?pid=nmona&cb=1219699592&article=27695604&symbol=NB%5EASFG
Aftersoft Group - Securities Registration Statement (S-1/A)
http://ih.advfn.com/p.php?pid=nmona&cb=1216239970&article=27328883&symbol=NB%5EASFG
Sure is quite. eom
1.4 million shares traded today????
FORM 10-QSB For the quarterly period ended: March 31, 2007
http://www.pinksheets.com/edgar/GetFilingHtml?FilingID=5984032
FORM 10-QSB For the quarterly period ended June 30, 2007
http://www.pinksheets.com/edgar/GetFilingHtml?FilingID=5984029
Well it appears that all Telco needs is a letter of tradability of which Ol Carmine Bua (I'm sure will not be writing) and a 15c211 with the backing of a market maker/broker dealer and it's back trading and out of the grey market. But who knows.....?
(Side Note) Let's keep the board on topic please. TYIA
Also from the March 06 10Q
OVERVIEW OF THE COMPANY
TelcoBlue, Inc., formerly Better Call Home, Inc. ("BCH"), a development stage company, was formed in Nevada on August 2, 2002, to operate an Internet based long distance telephony network using state of the art Voice over Internet Protocol.
On August 29, 2002, BCH entered into a reorganization with Wave Power.net, Inc., an inactive public company, whereby Wave Power acquired all of the issued and outstanding shares of BCH's common stock by issuing to BCH's shareholders, pro rata, 16,000,000 shares of Wave Power common stock. At that time, Wave Power had 14,000,000 shares outstanding. The combined entity changed its name to TelcoBlue, Inc. on August 29, 2002.
On January 22, 2004, TelcoBlue, Inc. a Delaware Corporation acquired all the issued and outstanding stock of Promotional Containers Manufacturing, Inc. ("PCM"), a private Nevada company in exchange for 28,700,000 shares of TelcoBlue, Inc. ("TELCO") common stock through a tax-free stock exchange, the terms and conditions set forth in an Agreement and Plan of Reorganization ("Agreement and Reorganization"). The company presently trades on the Over the Counter Bulletin Board stock exchange under the symbol, "TBLU". ( Promotional Containers Manufacturing, Inc. was incorporated under the laws of Nevada on January 24, 2003 with authorized common stock of 75,000,000 with a par value of $0.001.)
In the spring of 2003, PCM acquired the assets of GMB in El Paso, Texas, whose product offerings ranged from photomounts and other related paper packaging items to padded folios, wedding albums and baby albums.
On December 10, 2003, the Company purchased the assets of Show Me Ink, LLC, an entity owned by the Company's Chief Executive Officer and majority stockholder in exchange for $450,000, which was contributed by the Chief Executive Officer to the Company. In addition, the Company forgave debt owed by Show Me Ink, LLC totaling $1,588,521.
On December 30, 2003, Telco Blue, Inc. ("TBLU") consummated an agreement to acquire all of the outstanding capital stock of Promotional Containers Manufacturing, Inc., in exchange for 28,700,000 shares of the Company's common stock ("TBLU Transaction"). Prior to the TBLU Transaction, TBLU was a non-operating public shell company with no operations, nominal assets and 5,482,075 shares of common stock issued and outstanding; and Promotional Containers Manufacturing, Inc was a professional photo packaging operation, specializing in wedding albums, baby albums and photo mounts from its factory in El Paso, Texas.
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The TBLU Transaction is considered to be a capital transaction in substance, rather than a business combination. Inasmuch, the TBLU Transaction is equivalent to the issuance of stock by Promotional Containers Manufacturing, Inc. for the net monetary assets of a non-operational public shell company (TBLU), accompanied by a recapitalization.
On December 23, 2004, TelcoBlue, Inc. redomiciled in the State of Wyoming, where it currently remains.
In 2005, the Company’s intention was to re-structure its manufacturing process, digitizing its operations in order to become competitive with similar businesses. Funds to enact these changes did not materialize. As a consequence, we conducted no business in the year 2005. We will continue to seek funding from viable sources which would help the company accomplish this change-over.
These conditions give rise to substantial doubt about the Company's ability to continue as a going concern. These financial statements do not include adjustments relating to the recoverability and classification of reported asset amounts or the amount and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. The Company's continuation as a going concern is dependent upon its ability to obtain additional financing or sale of its common stock as may be required and ultimately to attain profitability.
Since that time, TelcoBlue has continued the evaluation of the photographic and communication industries for potential opportunities for merger and acquisitions. None have been identified as of June 1, 2008, however TelcoBlue continues to evaluate the development of a web site, market plan and business plan.
OUR BUSINESS PLAN
During the twelve month period January 1, 2006 through December 31, 2006, the Company’s focus was on the identification of acquisition and merger opportunities to foster our developing business plan.
The Company is continuing to search for opportunities to enhance shareholder value. To date the Company has not entered into any agreements, but is looking to develop such a relationship before the end of the 2008 fiscal year. The Company’s ideal candidate will provide the company with the best shareholder value.
Since our inception, we have continued to raise capital to complete audits and to develop a business plan, a market plan, a website in the direction needed for the company. As we have no marketable product yet, we do not anticipate generating any revenues over the next year. Therefore, we anticipate the need to raise additional capital over the next twelve months. The financing for our development activities to date has come from the sale of common stock.
The Company had during the period covered by this report, two offices, in Texas and Kentucky. The Company leased space at 6001 Threadgill, El Paso Texas under an agreement for 65,000 square foot space for the period 2003 when leased through December 31, 2006. The monthly lease payments were approximately $11,000.00. The Company’s Texas operations were moved to 2111 Wyoming, El Paso, Texas in approximately December 2006. The lease of $7,437.50 and $1,000.00 for insurance and taxes, for the Wyoming Street property was terminated by mutual consent with the landlord in the Fall of 2007, as the Company’s operations in this facility were discontinued and the assets sold to cover the rent payments due. This location housed 1 employee and was utilized by the Company for storage.
The Company moved its corporate headquarters, housed in its Kentucky offices from 3166 Custer Drive Ste 101 to 3328 Eagle View Lane, Ste 240 in March 2006 to accommodate its then present needs. The Company leased this space under a lease agreement for 1,400 square foot space. The lease term was for 5 years commencing April 1, 2006 and ending March 1, 2008 and the monthly lease payments were $2391.33. This location housed 2 employees in 2006 and 3 employees as of June 1, 2008. The Company subsequently moved its Lexington Offices to 1795 Alysheba Way, Ste 3105 Lexington, KY 40509 in March 2008, where it currently resides. The lease term is for 2 years commencing April 1, 2008 and ending March 31, 2010 and the monthly lease payments are $1400.00.
LIQUIDITY AND CAPITAL RESOURCES
In order to achieve our business plan goals, the Company anticipates needing to raise additional capital from the sale of restricted shares over the coming 12 month period. The company arranged for private loans with LexReal Co., LLC as an open account, at 10% interest rate per annum payable by December 31, 2010, which notes may be converted to commn stock. Conversion would be based on 40% of the average bid price for the 5 trading days preceding the conversion.
The Company intends to finance our future development activities and working capital needs largely from the sale of public equity securities with additional funding from a private placement or secondary offering and other traditional financing sources, including term notes and proceeds from sub-licensing agreements until such time that funds provided by operations are sufficient to fund working capital requirements.
During the coming year, based on our anticipated growth, we plan to add several employees to our staff.
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OFF-BALANCE SHEET ARRANGEMENTS
We do not have any off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that is material to investors.
ITEM 3.
CONTROLS AND PROCEDURES
Under the supervision and with the participation of our Management, including our Principal Executive Officer and Principal Accounting Officer, we conducted an evaluation of the effectiveness of the design and operations of our disclosure controls and procedures, as defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934, as amended (the “Exchange Act”) as of the end of the period covered by this report. Based on this evaluation, our Principal Executive Officer and Principal Accounting Officer concluded that our financial disclosure controls and procedures were effective so as to timely identify, correct and disclose information required to be included in our Securities and Exchange Commission (“SEC”) reports due to the Company’s limited internal resources and lack of ability to have multiple levels of transaction review. Through the use of external consultants and the audit process, management believes that the financial statements and other information presented herewith are materially correct.
There have been no significant changes in the Company’s internal control over financial reporting or, to our knowledge, in other factors that could significantly affect the Company’s internal controls over financial reporting subsequent to the evaluation date.
From the March 06 10Q
http://ih.advfn.com/p.php?pid=nmona&cb=1212757079&article=26721325&symbol=PINK%5ETBLU
OTHER INFORMATION
ITEM 1.
LEGAL PROCEEDINGS
As of the date of this Report, neither we nor any of our officers or directors is involved in any litigation either as plaintiffs or defendants. As of June 1, 2008, there is not any threatened or pending litigation against us or any of our officers or directors, except the following:
Recently, our SEC council received a call from the SEC concerning a potential civil action against TelcoBlue, Inc. and/or James N. Turek, Sr., regarding financing activity of Plasticon International, Inc., an SEC reporting company, for whom Mr. Turek, Sr., also serves as the President and CEO. The SEC indicated that they are considering civil actions against TBLU and/or James N. Turek, Sr., for recovery of funds related to such activity, however, to the best of our knowledge, no formal action has been taken as of the date of this filing.
FORM 10-QSB For the quarterly period ended June 30, 2006
http://www.pinksheets.com/edgar/GetFilingHtml?FilingID=5983753
FORM 10-QSB For the quarterly period ended September 30, 2006
http://www.pinksheets.com/edgar/GetFilingHtml?FilingID=5983752
FORM 10-KSB For the fiscal year ended: December 31, 2006
http://www.pinksheets.com/edgar/GetFilingHtml?FilingID=5983751