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Wonder if this is dead for all eternity?
I second that motion...
any idea if these guys are close?
Consistent pattern; reverse split the stock to clean up and reduce the excess to a manageable float, then reduce the AS at the same time, to avoid concerns over excessive dilution.........smart news release......and very excited to see the industry sector he's moving us into it....
You hit it on the head when you said we need closure. My gut feeling is that MTRE's closures will take place in late July-early August, followed by WCHG in the last quarter. Thanks for the great news.
I agree with your perspective.....unlike most CEO's who butcher shell holders with an RS of 1:1000 up to 1:10,000 that benefits only the new owners, he seems to take into consideration what impact his decisions will have on shareholders. An RS of 1:60 is nothing, and based on the numbers, looks the share structure and stock price could benefit significantly if the right news is provided. Reminds me of the moves he made with MTRE............now we just need CLOSURE
I will be waiting and watching with anticipation.
For myself, today's news is only partly about WCHG and the homeland security opportunity. It is much more about the fact the Marty has not just let this die but is coming through again... like he has consistently done in the past. When I say consistently, that includes, IMO, the following:
- when Marty sets out to do something, he is as tenacious as they come and he doesn't quit until he succeeds.
- when Marty starts on a project, he will always be delayed in the execution and his fellow travelers will wonder if he knows what he is doing.
- when the results do finally come through, they will likely exceed original expectations.
This has been my observation and why I am remaining strongly invested in all of Marty's plays (MTRE, LFHE, and WCHG).
JMHO.
NL
Homeland security is a hot topic, hot industry right now......looking forward to seeing what develops. A restructuring is a lot better than frozen, and gives us some good potential.....finally! Let's hope the wait proves worthwhile
Thank you, Chevy!!
Patience is again rewarded.
NL
It's ALIVE!!!!!!
This bodes very well for MTRE............nothing else was to happen unless MTRE was preparing for closure.......JMHO
press release
June 23, 2010, 10:00 a.m. EDT
WaterColor Holdings, Inc. Changes Its Business Strategy Advance of Merger
WESTPORT, CT, Jun 23, 2010 (MARKETWIRE via COMTEX) -- WaterColor Holdings, Inc. ("WaterColor"), a privately held entity, today announced that its Board of Directors has unanimously approved a change in its business strategy and plan leading toward a merger.
Martin Licht commented, "The Board of Directors has recently agreed to a change in the company's direction and structure in order to improve shareholder value. When we assumed control of the company in 2007 we felt our business plan at the time would create a profitable venture. When we realized not only the difficulties in developing a successful alternative fuel business but also the problems we faced in cleaning up a dormant shell, we chose to revert back to a private entity. Since then, we have explored a number of potential business opportunities. We are now in final negotiations with an exciting merger prospect in the Homeland Security marketplace.
"WaterColor is in good standing with the state of Colorado and it will be implementing a 1:60 reverse split reducing the total outstanding common shares to less than 7 million pre-merger. As a result, the total authorized common shares will be reduced to 150 Million and preferred shares will decline to 5 Million. Upon closing the merger, existing shareholders will retain approximately 10% ownership in the new company. The new company's name will be revealed once formal contracts have been signed by all parties and all conditional terms met."
Mr. Licht closed his remarks by stating "We anticipate the new company will provide substantial potential for investment growth to all shareholders. WaterColor will be relinquishing majority ownership once arrangements have been completed and as a result all future correspondence will be provided by the new management. As part of the merger acquisition terms, the new company will be filing with both the SEC and FINRA in order to achieve trading status."
Contact for further information:
Gary Stein
steincorp007@gmail.com
http://www.marketwatch.com/story/watercolor-holdings-inc-changes-its-business-strategy-advance-of-merger-2010-06-23?reflink=MW_news_stmp
http://www.sos.state.co.us/biz/ViewImage.do?masterFileId=19971034863&fileId=20101249079
http://www.sos.state.co.us/biz/BusinessEntityDetail.do?quitButtonDestination=BusinessEntityResults&nameTyp=ENT&masterFileId=19971034863&entityId2=19971034863&srchTyp=ENTITY&fileId=20061131869
Before we jump to conclusions let's wait till MTRE reaches closure, which I suspect will be shortly, although with Mr.Licht we never know what that word means.After this is done we can perhaps look forward to news from WCHG. Unfortunately this may take time, so don't panic if we see nothing for a period of time.
Again JMO.
It has been almost 3 years now since the SEC revoked the registration of WCHG (September 2007). It wouldn't take too much to bring this back to life. My understanding was that it was in view to be done once MTRE was on track. MTRE is still a work in progress, so I am not surprised that nothing has happened with WCHG. Prices, you have talked with Marty from time to time, and I think you have had the sense that MTRE is getting close to being ready. If so, once that comes about, I would not be surprised to see something come about with WCHG. One thing about Marty -- although he has been habitually late (and recently very, very late!), he has managed to come through on what he has said he would do again and again. Marty has a tremendous amount of tenacity! That gives me encouragement with respect to the investments I have made in the companies he works with: MTRE, LFHE, and even WCHG.
I know there are some who will laugh and mock at me for thinking anything will yet happen... I have have read the "quack, quacks" many times. That's okay... the story is not over, IMHO. I think Marty, and the others he is associated with, have much too much invested to not bring something good out of the time and effort they have put in.
JMHO.
NL
really?.... is that a gut feeling or something actually has transpired?
I BELIEVE WE ARE GETTING CLOSER TO FINALLY SEE SOME MOVEMENT IN THE STOCK. IT HAS BEEN LONG ENOUGH, AND WE HAVE BEEN VERY PATIENT.
I am continuing to wait patiently for this stock to come back into play. There is not a whole lot to say about it in the meantime, but I will "stay with the ship". In due time... we shall see.
JMHO.
NL
sand, this sucker is DOA, they would have to do a ton of stuff to get it re-listed... and for what?
Wait till MTRE is finished before throwing sand on the grave
But do not count this completely dead. There is some life to it.
I agree with you. It will never come back with Licht in control.
Another one of ( may his soul rest in peace) Dave D's beauties.
I've been around for over 10 years in these pinks...
1 in 1000 actually come back from the dead.
"dusty as heck..." - I would agree with that
"we were scammed." - I doubt it - your opinion, not mine.
"EOS." - that remains to be seen.
JMHO.
dusty as heck... we were scammed. EOS.
not another one. close group lol another dave d following
I never "pumped" anything. I provided the facts that were available, and allowed everyone to make their own decisions. Not all of my picks are good ones, nor have I ever professed them to be. Get off your personal vendetta.
hoping MTRE can get it in gear soon....any thoughts?
It was said that the delays on this stock have been on account of priority being given to MTRE and LFHE. Those two plays have encountered delay after delay themselves, so we wait awhile longer to see what may come here -- maybe sometime in 2010.
NL
Also ready.... and patiently waiting... there is little else to do. Still expectant on something good coming through....
i am ready for this to get JIGGY!!!!
Last I heard a few weeks ago is that there is still something being worked on - delays in working out the details, but still active. WCHG is admittedly not the priority, with MTRE and LFHE taking most of the available energy, but it appears to still be a live item.
NL
Hey! No one has asked in a month, so I will play the fool even though I am OK with the wait. Any new news recently? Granted I only put in $500, but I am still curious.
Take care
2 years ago... now moving into year 3... how long does someone need to get the thing back in order? filings should take a few hours... sell the shell..?
We will just have to wait it out... I can't make it happen any faster than it will happen. I am expecting it happen... you aren't. Only time will tell.
NL
I don't believe they are doing anything on this, no filings or even a simple website to date.
It's been 2 years exactly since the delisting/halt.
Hopefully, yes. Grapevine says that things are pending - had expected to have heard something more concrete but now, but we know that ML is very methodical and never rushed - all i's dotted and t's crossed before we hear. JMHO.
NL
its been a long time now...maybe we see somehting in time for the fall season???
Smitty,
This publicly traded company was formerly United Specilaties Inc. which was in the specialty and gourmet food business. That is already long ago. In 2006, the company under its new name Watercolor Holdings, Inc. was looking into an alternative energy opportunity, but that ended in 2007 when the SEC suspended trading and deregistered the company. Work is still ongoing to re-register and to become active in a new venture.
Here are a couple of links that may be of interest for further investigating into the old United Specialties history.
http://resources.bnet.com/topic/united+specialties+inc..html
http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=7684979
well so far there is no filings or website for WCHG... I think I got time..lol
JMO, But you had better start preparing it. GLTY my friend.
if this ever starts trading again... I will owe 53 an apology.
I believe as soon as the symbol change is complete. 53 Chevy could give a better answer though.
when is this supposed to come alive?
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June 23, 2010, 10:00 a.m. EDT ·
WaterColor Holdings, Inc. Changes Its Business Strategy Advance of Merger
WESTPORT, CT, Jun 23, 2010 (MARKETWIRE via COMTEX) -- WaterColor Holdings, Inc. ("WaterColor"), a privately held entity, today announced that its Board of Directors has unanimously approved a change in its business strategy and plan leading toward a merger.
Martin Licht commented, "The Board of Directors has recently agreed to a change in the company's direction and structure in order to improve shareholder value. When we assumed control of the company in 2007 we felt our business plan at the time would create a profitable venture. When we realized not only the difficulties in developing a successful alternative fuel business but also the problems we faced in cleaning up a dormant shell, we chose to revert back to a private entity. Since then, we have explored a number of potential business opportunities. We are now in final negotiations with an exciting merger prospect in the Homeland Security marketplace.
"WaterColor is in good standing with the state of Colorado and it will be implementing a 1:60 reverse split reducing the total outstanding common shares to less than 7 million pre-merger. As a result, the total authorized common shares will be reduced to 150 Million and preferred shares will decline to 5 Million. Upon closing the merger, existing shareholders will retain approximately 10% ownership in the new company. The new company's name will be revealed once formal contracts have been signed by all parties and all conditional terms met."
Mr. Licht closed his remarks by stating "We anticipate the new company will provide substantial potential for investment growth to all shareholders. WaterColor will be relinquishing majority ownership once arrangements have been completed and as a result all future correspondence will be provided by the new management. As part of the merger acquisition terms, the new company will be filing with both the SEC and FINRA in order to achieve trading status."
Contact for further information:
Gary Stein
steincorp007@gmail.com
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