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Straight from the Quarterly Report:
On February 24, 2009, effective February 17, 2009, the Company amended the Agreement. The due date for the Notes was extended from January 15, 2009 to May 17, 2009. As consideration for the extension, the Company agreed to pay $33,333.33 to each Secured Party on or before March 3, 2009. The Company has not made these payments. As additional consideration it did pay $3,396 in legal fees to the Secured Parties’ counsel. Additionally, the Company issued to two of the Secured Parties five-year warrants to each purchase 250,000 shares of the Company’s common stock at an exercise price of $0.50 with a cashless exercise provision. The value of the warrants of $38,433 is being amortized to interest expense over the extended term of the note.
As of March 31, 2010 the balance of these notes is due on demand and each of the three Secured Parties has the right to foreclose.
Well, I have another 30k for sale at .05 if you want to average down. Perhaps this will give them the capital they need to keep operating or they will dilute into oblivion. A flip of the coin. Remember this company is restructuring and even with the deal with mrs. Fields and TCBY (which we don't know the terms of) may not keep them from going under. Also, Mrs. Fields and TCBY aren't exactly doing gangbusters right now.
The increase of A/S seems to me to be a desperate ploy by the company to stay afloat. Just my opinion. That was a major red flag for me and is the reason I'm getting out.
I hate to say it, but if you don't know what A/S is, you shouldn't be investing in penny stocks. Here is the link to the filing about increasing the authorized shares. http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=7186124
I've been long Java for a long time, I'm winding my position down at a loss because I have a feeling this is going into the sewer. I could be wrong, but I'd rather get some value out of this as opposed to watching it sink to .0001.
Nah, he pretty much read everything from the slides.
Yea, I was a little disappointed that no one from the company was there and this guy seems to have been thrown in at the last second with very little knowledge of the company. All in all, I would rather have these guys out there doing stuff like this than holed up and being VERY quite about what was going on.
Presentation video link from last weekend: http://www.sciaconference.com/PublicCo/2-6-2010/JavaDetour/Index.html
You may need to register in order to view, but it's worth the look. It seems like they have gotten some more funding in place.
Check it out!
Yea, it's interspersed throughout the report and sometimes it seems quite confusing if they are referring to 2008 or 2009, but they definitely address some key areas of 2009.
It is for 2008, but they also have quite a bit of information relating to 2009 in the filing (why? I have no idea, put that stuff in your 2009 10k). Bottom line....they owe a lot of money to a lot of people and yet, I still have confidence that this company could become profitable if they manage their expenses, open new locations in good areas, and increase the partnership value with Mrs. Fields.
JMHO.
Form 10-k Filed on Friday. It's an interesting, but not rosy read. I'm sure they had to put this out in order to present this information at the investor's conference over the weekend. It will be interesting to find out what happened at that conference and if any more capital was raised.
http://www.sec.gov/Archives/edgar/data/1122887/000101376210000238/form10k.htm
I'm definitely curious to see what becomes of the investor's conference this weekend.
Yea, I'm hoping that maybe they announce they are out of restructuring. That would make sense since going to an investor presentation with that hanging over your head doesn't seem like the best idea.
What's with the strong volume today? We haven't seen this volume since it popped to .15.
What happened here today? Actually some decent volume for JVDT. I think the meeting on the 6th will help to clarify where this company is going.
And they wasted money on a national pr for what...a talk show promotion? C'mon...
I just saw 143,983 shares bought at .09.
Did anyone else just see those buys? Yikes someone wants this.
Yea, last time it started moving like this a PR was released around noon time regarding the TCBY & Mrs. Fields connection.
.14s printed!
Good morning, New year! Loving the look on this one. A PR this week would really help this climb up.
Looks like all those great promotions have gone from promoter to seller. Glad I didn't pull the trigger this morning.
You do realize that all of those promoters and newsletters get paid in stock right? And they can dump that stock at any time into the market? Just don't want you to be a bag holder. This seems to be a classic pump and dump, still doing my research though.
Yup. Just sitting here drinking my coffee and satisfied with my investment here.
Bid's building at 12's now. 3 @ .12 x 2 @ .14
Personally, I think we see a typical friday with some slow volume and churning in this range.
But what do I know! It could just as easily blow up and we could climb up 100%
Slow start here. Just some small nibbles at ask. Just waiting.
Have a buy order in at ask, but taking a long time to fill.
Morning everyone! .15x.17 now.
You guys do realize that the great Warren Buffett did not personally authorize RC Willey to be a reseller for Vibeaway??? His name in the PR was a little case of name dropping if you ask me.
Hah...let's close at $2...
Durango, I'm down there waiting as well! Love the profits I got off this run up. Let's do it again.
Good thing I got out at upper 3's! I just had a bad feeling at least today that it was going to drop again. I've been here for a couple of these run ups and let downs.
Hah, if warren wanted to slap the ask with a couple million dollars, he would just buy the company.
Trying to hit the ask, slow filling though.
Hands and feet inside the ride at all times...
Yep, Bid and Ask moving up. Now .14x.175
And the grand opening of the tri-branded store was YESTERDAY in Las Vegas. Keep in mind people, this is happening!
Hah...it's constant now. Does anyone remember the months of no pr? Glad those days are behind us.
This was posted on the Flamingo Las Vegas twitter page yesterday!
"In just a few minutes, we're celebrating the grand opening of Mrs. Fields, TCBY and Java Detour! Come by for FREE cookies, fro yo & java!"
And this the day before, "If you like free cookies, free frozen yogurt and free coffee, we're giving it all away tomorrow, 12-3pm at Mrs. Fields, TCBY & Java Detour!"
https://twitter.com/flamingovegas
No hot air in that PR from Java yesterday. This is the real deal.
Morning everyone! Looking forward to today. GLTA