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Thanks for the info Fink. Very interesting information you have provided.
"What does that mean to me? It seems they have abandoned us for the time being. They hyped the stock and got all the penny followers duped in to buying on a frenzy. Then they probably shorted and or dumped and the followers got burned big time when the hype stopped. Anyone thinking of investing long would have been scared off and the penny followers are pissed... no more buyers anywhere. That leaves a few hangers on like you and me."
Looks like you have figured their game out! LOL
"Explain to me why there is no buy interest in the FLTT Stock?"
Because Flint has been screwing shareholders by diluting the stock since August by releasing BS news and having the "Compensated Awareness" posters promote the stock all along the way. Now that ALL of the shareholders are underwater on the stock they bought on empty promises they are not coming back for more. Why throw good money after bad? Unless you like losing money!!! LOL
"Who is unloading shares and not having ant patience."
Flint is the one who is unloading the shares!!! They are taking money from investors and putting it in their coffers...no matter how little. Flint is printing shares and selling them in the market like they are going out of style!
How can you believe in the chart when the outstanding share count keeps expanding??? LOL
Wow I'm surprised anyone is left here. Just make sure you read and understand the paragraph below from the S-1. At current prices Flint will need to issue approximately 1.5 BILLION shares to get that 15 million dollars. The stockgroupies crew will be working triple overtime to sell that many shares!
The Registration Statement covers 12,000,000 shares of common stock under the IA. The entire common share requirement for the entire $15,000,000 under the IA would be approximately 743,034,056, based on an assumed LCBBP of $0.01615, representing 95% of the closing price of our common stock on January 19, 2011. However, we have decided to limit ourselves to 12,000,000 shares available, or $193,800, based on the closing price of our common stock as of January 19, 2011. If our share price rises, we will be able to draw down in excess of $193,800. If we decide to issue more than 12,000,000 shares, we will need to file one or more additional registration statements with the SEC covering those additional shares.
Why did you buy the stock?
I suspect the majority of the transfers will originate in the USA and will be subject to the law changes.
The S-1 specifically states the USA is one of the markets.
Ingedigit International Inc. (“III”) – a U.S. based international pre-paid debit card company, partnered with both U.S. banks and international banks to offer debit cards to their customers. Included with the debit card services are additional services, allowing the partnering banks to add new customers, share funds between existing card holders and perform international fund remittance. All transactions are fully compliant with U.S. and international money laundering laws, as well as counter-terrorism regulations. Transactions are practically instantaneous, available to the card-holder on a 24/7, 365-day basis. The Company’s current markets include the United States, Canada, Mexico, India, Central and South America, Gulf Coast Countries, and the Philippines. The Company intends to expand into the U.K., Africa, Sri Lanka, Bangladesh and the Pacific Rim markets in the near future.
Removed on what grounds? Is Flint NOT selling debit cards in the USA? NY, FL and NJ to be SPECIFIC!
All the right moves? Looks like they are about to get broadsided by the US Government!!!
Card fee cut hits Visa and MasterCard
http://www.ft.com/cms/s/0/c724613a-0979-11e0-8c68-00144feabdc0.html#ixzz18L2NKtjv
By Suzanne Kapner in New York
Published: December 17 2010 01:25 | Last updated: December 17 2010 01:25
Visa and MasterCard shares plunged after the Federal Reserve proposed rules to eliminate billions of dollars in debit card fees.
The new rules, which could still change before they are finalised early next year, are a huge win for large retailers like Walmart and Target, but represent a significant setback for card-issuing banks such as JPMorgan and Bank of America, as well as for Visa and MasterCard, which operate the debit card networks.
The fees are fixed by Visa and MasterCard and paid by merchants to card-issuing banks to cover the cost of processing transactions.
Under the first of two proposals, card issuers would be required to charge merchants no more than their actual costs, which the Fed estimates at 7 cents a transaction. The second proposal would cap the fees at 12 cents a transaction.
That is far less than the 63 cents a transaction that issuers currently charge retailers and represents a reduction in debt-card fees of roughly $10bn, or more than 80 per cent, according to the Merchants Payment Coalition.
“Today’s draft rule from the Federal Reserve makes it clear that big bank interchange rules overcharge businesses and consumers,” said Senator Dick Durbin, who authored an amendment to the Dodd-Frank Wall Street reform act that required the Fed to write new rules capping the fees.
“The changes we had to enforce by law in the US are being voluntarily implemented by mega-banks and card giants in Europe and other countries,” Mr Durbin added.
The European Commission has reached deals with MasterCard and Visa Europe to reduce interchange fees to 0.2 per cent on cross-border debit card transactions in Europe.
The Fed proposal may also loosen the grip of Visa and MasterCard on the debit market by requiring that all cards use at least two networks.
Visa and MasterCard on Thursday fell 12.7 per cent and 10.3 per cent, respectively, “due to interchange being lowered more than expected,” Adam Frisch, of Morgan Stanley, wrote in a note to clients.
Mr Frisch estimated that the fee restrictions will reduce 2012 earnings for Bank of America by 4 cents a share and JPMorgan by 6 cents a share.
Banks said any attempt to set rates would lead to higher costs for consumers. Analysts expect banks to react to the new rules by eliminating other services such as reward programmes.
“The rules proposed by the Federal Reserve today will have a dramatic impact on the cost of banking services for consumers nationwide,” said Edward Yingling, chief executive of the American Bankers Association.
Visa said, “Visa also has concerns that the Federal Reserve’s proposal includes artificial caps on debit interchange that do not realistically reflect the value of card acceptance and do not reflect the actual costs of running a secure, reliable and efficient debit network.”
Copyright The Financial Times Limited 2010.
Your chart is wrong. The date was July 2007....not July 2008.
No matter how you slice it the stock has tanked since that date.
Your welcome Johnny4Profits.
Planning your trades and trading the plan will pay dividends as you know by now. I agree the RS is a potential death spiral and must be avoided to preserve capital.
Good Luck with your trades!
P.S. I saw your "apology" post before it was deleted. EXCELLENT!!!
The answer is YES. It happened before the reverse merger with Flint. Apparently it did not help that company survive or keep the stock price from sinking lower and lower.
Semotus Announces One-For-Twenty Reverse Stock Split
Reverse Stock Split Questions & Answers
LOS GATOS, July 10, 2007 (PRIME NEWSWIRE) -- Semotus Solutions, Inc. , an innovative leader of software solutions for enterprise mobility, today announced that its Board of Directors has approved a one-for-twenty reverse split of its common stock. The reverse split will become effective as of 5:00 p.m. Eastern Time on July 20, 2007.
At Semotus' annual meeting on September 21, 2006, shareholders approved a proposal to authorize the Board, in its discretion, to effect a reverse split of Semotus' issued, outstanding and authorized common stock at a ratio ranging from one-for-ten to one-for-twenty, at any time prior to the fiscal 2007 annual meeting, without further action by shareholders.
The purpose of the reverse split is to increase the per share trading price of Semotus' common stock, thereby appealing to a broader range of investors; to the extent that the reverse split does succeed in attracting more investor interest in the stock, shareholders may also benefit from improved marketability and trading liquidity of the stock. Additionally, the American Stock Exchange (Amex) determined that it will require us to effect a reverse stock split of our common stock as part of our compliance plan, to address our low selling price and to work towards meeting the continued Amex listing standards.
Upon the effectiveness of the reverse stock split, Semotus shareholders will receive one new share of Semotus common stock for every twenty shares they hold. Semotus' common stock will begin trading on a split-adjusted basis when the market opens on July 23, 2007.
In connection with the reverse split, the total number of common shares authorized under Semotus' Amended Articles of Incorporation will be reduced from 150 million to 7.5 million shares. As of the end of Semotus' fiscal year 2007, there were approximately 35.5 million shares of Semotus' common stock outstanding. Effecting the 1-for-20 reverse split will reduce that total to approximately 1.8 million shares. The reverse split will not change the number of shares of Semotus preferred stock authorized, which will remain at 5 million.
Maybe it's your fact...but it's not true. Private companies are opaque entities that do not have to disclose anything to the public including financing arrangements. Public companies by regulation have to be transparent and report these types of arrangements with the SEC.
Well even "private" companies need financing. In fact your friends from the clandestine Kodiak Capital Group also finance private companies.
Well now that we have the S-1 I've made up my mind. Flints shareholders are screwed no matter what.
If they didnt file the S-1 (and pending it's approval) this nonsense would have continued. This all documented in the S-1 and is only 5 months worth of dilution. LOL
On June 8, 2010, the Company issued 2,000,000 shares of the Company’s common stock to a note holder upon conversion of $20,000 worth of a promissory note.
On June 8, 2010, the Company issued 2,000,000 shares of the Company’s common stock to a note holder upon conversion of $80,000 worth of a promissory note.
On June 8, 2010, the Company issued 600,000 shares of the Company’s common stock to a note holder upon conversion of $6,000 worth of a promissory note.
On June 17, 2010, the Company issued 153,000 shares of the Company’s Series F Convertible Preferred Stock to one holder having a value of $1,530,000 and which are convertible into 30,600,000 shares of common stock.
On June 17, 2010, the Company issued 153,779.66 shares of the Company’s Series G Convertible Preferred Stock to one holder having a value of $130,718 and convertible into a total of 15,377,966 shares of common stock.
On June 18, 2010, the Company issued 11,288,700 shares of the Company’s common stock to a note holder upon conversion of $84,665 worth of a promissory note.
On June 18, 2010, the Company issued 3,125,000 shares of the Company’s common stock to a note holder upon conversion of $10,000 worth of a promissory note.
On June 22, 2010, the Company issued 1,666,667 shares of the Company’s common stock to a note holder upon conversion of $25,000 worth of a promissory note.
On June 22, 2010, the Company issued 5,000,000 shares of the Company’s common stock to a note holder upon conversion of $25,000 worth of a promissory note.
On June 22, 2010, the Company issued 2,000,000 shares of the Company’s common stock to a note holder upon conversion of $6,000 worth of a promissory note.
On June 22, 2010, the Company issued 500,000 shares of the Company’s common stock to a consultant for services rendered worth $25,000.
On July 2, 2010, the Company issued 4,736,842 shares of the Company’s common stock to a note holder upon conversion of $9,000 worth of a promissory note.
On July 9, 2010, the Company issued 3,529,411 shares of the Company’s common stock to a note holder upon conversion of $6,000 worth of a promissory note.
On August 11, 2010, the Company issued 5,090,909 shares of the Company’s common stock to a note holder upon conversion of $2,800 worth of a promissory note.
On August 19, 2010, the Company issued 6,000,000 shares of the Company’s common stock upon the conversion of 60,000 shares of Series D Preferred Stock, worth $22,200.
On August 20, 2010, the Company issued 2,666,667 shares of the Company’s common stock to a note holder upon conversion of $2,000 worth of a promissory note.
On August 20, 2010, the Company issued 77,000,000 shares of the Company’s common stock to eight note holders upon conversion of $45,600 worth of promissory notes.
On August 25, 2010, the Company issued 15,000,000 shares of the Company’s common stock to two executive officers as part of their employment compensation.
On August 25, 2010, the Company issued 6,250,000 shares of the Company’s common stock to a consultant for services rendered worth $19,375.
On August 27, 2010, the Company issued 34,135,000 shares of the Company’s common stock to three note holders upon conversion of $22,500 worth of promissory notes.
On August 31, 2010, the Company issued 15,000,000 shares of the Company’s common stock to four note holders upon conversion of $8,250 worth of promissory notes.
On September 2, 2010, the Company issued 3,636,364 shares of the Company’s common stock were issued to a note holder upon conversion of $2,000 worth of a promissory note.
On September 3, 2010, the Company issued 2,000,000 shares of the Company’s common stock to a note holder upon conversion of $10,000 worth of a promissory note.
On September 7, 2010, the Company issued 3,846,154 shares of the Company’s common stock to a note holder upon conversion of $5,000 worth of a promissory note.
On September 7, 2010, the Company issued 5,384,615 shares of the Company’s common stock were issued to a note holder upon conversion of $3,500 worth of a promissory note.
On September 30, 2010, the Company issued 2,800,000 shares of the Company’s common stock to a note holder upon conversion of $3,500 worth of a promissory note.
On October 4, 2010, the Company issued 1,666,667 shares of the Company’s common stock to a note holder upon conversion of $3,000 worth of a promissory note.
On October 8, 2010, the Company issued 12,953,368 shares of the Company’s common stock to a note holder upon conversion of $40,000 worth of a promissory note.
On October 9, 2010, the Company issued 2,571,429 shares of the Company’s common stock to a note holder upon conversion of $4,500 worth of a promissory note.
On October 10, 2010, the Company issued 3,714,286 shares of the Company’s common stock to a note holder upon conversion of $6,500 worth of a promissory note.
On October 11, 2010, the Company issued 4,285,714 shares of the Company’s common stock to a note holder upon conversion of $7,500 worth of a promissory note.
On October 12, 2010, the Company issued 7,428,571 shares of the Company’s common stock to a note holder upon conversion of $13,000 worth of a promissory note.
On October 12, 2010, the Company issued 8,934,857 shares of the Company’s common stock to a note holder upon conversion of $15,500 worth of a promissory note.
On October 19, 2010, the Company issued 10,000,000 shares of the Company’s common stock were issued to a note holder upon conversion of $6,000 worth of a promissory note.
On October 20, 2010, the Company issued 18,000,000 shares of the Company’s common stock to a note holder upon conversion of $13,950 worth of a promissory note.
On October 21, 2010, the Company issued 4,166,667 shares of the Company’s common stock to a note holder upon conversion of $10,000 worth of a promissory note.
On October 21, 2010, the Company issued 15,000,000 shares of the Company’s common stock were issued to a note holder upon conversion of $11,250 worth of a promissory note.
On October 25, 2010, the Company issued 2,000,000 shares of the Company’s common stock to a note holder upon conversion of $16,000 worth of a promissory note.
On October 25, 2010, the Company issued 10,000,000 shares of the Company’s common stock were issued to a key employee as part of his compensation for continued employment.
On October 25, 2010, the Company issued 300,000 shares of the Company’s Series H Convertible Preferred Stock were issued to ten holders in exchange for all of the stock of Power2Process and Ingedigit International Inc. valued at $3,000,000.
On October 26, 2010, the Company issued 4,250,000 shares of the Company’s common stock to a note holder upon conversion of $8,200 worth of a promissory note.
On October 29, 2010, the Company issued 50,000,000 shares of the Company’s common stock to five note holders upon conversion of a total of $30,000 worth of promissory notes.
On November 11, 2010, the Company issued 18,382,352 shares of common stock to 2 note holders upon conversion of a total of $45,000 worth of promissory notes.
On November 16, 2010, the Company issued 10,666,667 shares of common stock to a note holder upon conversion of $14,000 worth of a promissory note.
On November 18, 2010, the Company issued 9,838,710 shares of common stock to 2 note holders upon conversion of a total of $11,000 worth of a promissory note.
On November 19, 2010, the Company issued 2,618,182 shares of common stock to a note holder upon conversion of $3,000 worth of a promissory note.
On November 23, 2010, the Company issued 8,333,333 shares of common stock to a note holder upon conversion of $10,000 worth of a promissory note.
On November 24, 2010, the Company issued 3,225,108 shares of common stock to a note holder upon conversion of $3,500 worth of a promissory note.
On November 29, 2010, the Company issued 9,090,909 shares of common stock to a note holder upon conversion of $10,000 worth of a promissory note.
On November 29, 2010, the Company issued 15,000,000 shares of common stock to a note holder upon conversion of $9,000 worth of a promissory note.
On November 29, 2010, the Company issued 10,000,000 shares of common stock to a note holder upon conversion of $9,000 worth of a promissory note.
On December 1, 2010, the Company issued 10,000,000 shares of common stock to a note holder upon conversion of $10,000 worth of a promissory note.
clevertrade
The answer to your dilution question is all in the S-1. Definitely worth a read through. Especially the following paragraph:
"The Registration Statement covers 170,000,000 shares of common stock under the IA. The entire common share requirement for the entire $15,000,000 under the IA would be approximately 6,072,874,494, based on an assumed LCBBP of $0.00209, representing 95% of the closing price of our common stock on November 30, 2010. However, we have decided to limit ourselves to 170,000,000 shares available, or $355,300, based on the closing price of our common stock as of November 30, 2010. If our share price rises, we will be able to draw down in excess of $355,300. If we decide to issue more than 170,000,000 shares, we will need to file one or more additional registration statements with the SEC covering those additional shares."
So the 170M shares is just the tip of the dilution iceberg.
To get all $15M in financing they have to issue over 6 billion shares at a price of .00209. With the current price being .0015 that number would be much higher that 6B.
Also they make it sound like they are being prudent in "limiting" themselves to 170M shares. However I suspect they have already issued close to 730M shares and cannot run over the 900M Authorized or else they will not get any financing. You can bet with 100% certainty they will be asking shareholders to authorize more shares next year. And guess what...they will get it because they have the backing of the big shareholders. Thats how they got the increase from 200M to 900M authorized shares.
The other sad fact is they will have to pay about 20% in fees so the net is only $286,860 of the $355,300.
Caveat Emptor!
Per the S-1 filed on 12/3/10
Common stock outstanding prior to this offering: 599,981,776
Common stock to be outstanding after this offering: 769,981,776 shares, assuming all shares offered for resale are sold.
Your quite welcome Nilbud. I'm glad you took the time to dig a little deeper. Although your numbers are paper trades because no trader nails the exact top and/or bottom. Its interesting to note that none of those companies held onto much if any of the gains. And INOL was quite the aberration when it gained 5400% in one DAY. LOL
But maybe if you and your cronies put that "market awareness" program into high gear FLTT will see a 5,400% gain. I doubt it can happen in a single day though. ;)
Oil Company Cancels Equity Line with Kodiak Capital, Citing Dilution
Posted March 31, 2010 10:20AM PST
EGPI Firecreek, an oil and gas production company, said it terminated a $15 million equity line financing from private equity firm Kodiak Capital Group because of concern the transaction was too dilutive to other investors.
Scottsdale, Ariz.-based EGPI had agreed to the equity line financing from Kodiak in November. The final agreement contained market reset provisions that proved too dilutive to shareholders, said Joe Vazquez, a consultant for the company.
EGPI became concerned about the dilutive nature of the financing after it filed a Form S1 with the Securities and Exchange Commission to register shares for the equity line.
"Since the S1, there's been an unusual amount of selling of the stock," Vazquez said. "When the company was to issue the shares under the S1, somebody felt there would be a tremendous amount of dilution and they've been selling short.
"If somebody's been foolish enough to short the stock and use the financing to cover it, then God bless them," he said.
Kodiak managing director Ryan Hodson said in an interview that the firm doesn't short stocks. In fact, New York-based Kodiak had hired an investor relations firm for EGPI.
"We hired an IR firm in Arizona to promote the stock and it couldn't move it," Hodson said. "We called the company and told them you have a problem with your investors."
Vazquez said that EGPI canceled the equity line to protect its shareholders. He added that the company "didn't need the capital to keep the doors open."
Kodiak, which started up in October, has become active in the market for equity line financing in the past month. The firm provided a $15 million equity line to Milwaukee Iron Arena Football, a team in the Arena Football League, in a deal completed March 9. Kodiak also provided a $10 million equity line to Wind Works Power in a deal that closed March 23. And Kodiak announced an agreement on March 10 to provide a $10 million equity line to Baron Energy.
http://pipes.dealflowmedia.com/wires/article.cfm?id=rjwaoiyzlflovmq
Reddick-Based Milwaukee Iron Arena Football Accuses Kodiak of Failing to Pay $1M - cbl
June 8, 2010
By citybizlist Staff
REDDICK -- Milwaukee Iron Arena Football Inc. (OTCBB: GCNV) has accused Kodiak Capital Group of failing to make a payment of $1 million under the terms of a stock purchase agreement, according to an SEC filing.
The Reddick, Fla.-based company, which owns an arena football team, said the New York firm was obliged to pay that amount upon the transfer of 1.5 million shares to the money manager April 30.
Milwaukee Iron Arena Football said it had made "repeated demands for payment" to Kodiak Managing Director Ryan Hodson but had received, on June 4, a payment of only $17,000. The company said it was consulting with lawyers and intended to pursue "all remedies."
On March 29, Milwaukee Iron Arena Football and Kodiak signed an agreement under which Kodiak pledged to buy from the company up to $15 million of shares over three years. On June 2, Milwaukee Iron Arena Football filed an updated version of that investment agreement with some minor modifications.
The company is the result of the Jan. 27 merger between Genesis Capital Corp., of Nevada , and the Milwaukee Iron Arena Football Team, a Wisconsin corporation.
http://southflorida.citybizlist.com/6/2010/6/8/ReddickBased-Milwaukee-Iron-Arena-Football-Accuses-Kodiak-of-Failing-to-Pay-1M--cbl.aspx
Has anyone gone to the Kodiak Capital website? http://www.kodiak-capital.com
They dont look too friendly to me. Every link requires a login.
WHAT ARE THEY HIDING?????
Ladies and Gentleman. What Nilbud is trying to describe here is what is known as "Private Investment in Public Equity" or PIPE financing.
Below is a primer on PIPE financing and it's lethal results taken from this website. http://jsmineset.com/2009/06/05/how-to-go-down-the-pipe-into-the-rat-hole/
Note in the first paragraph where it states "the financing entity entity has the right to walk away"...Did AGS walk away on Flint???? WHY???? Hmmmmmm.
How To Go Down The "PIPE" Into The Rat Hole
by Jim Sinclair
Pipes work this way. The Hedge fund agrees with the company to provide lets say $25,000,000 over one or two years. Please note that the financing entity has the right to walk away at any time. The financing entity insists on getting shares that are immediately saleable.
Upon agreement the financing entity initiates a short position because the price of the shares delivered will be the price of the shares as it is trading on the day of the company’s request for money, less 15%. They generally are short more than the monthly delivery tranche. This device specializes in raping small caps.
A PIPE arrangement via its mechanism and the financier’s short position guarantees the short (financing entity) a profit of 15% or more if you can batter the price down, which of course the financing entity does.
To accept a PIPE financing is to offer up your shareholders as sacrificial lambs which many companies find irresistible in hard times. It puts the company into the hands of Jabba the Hut, PIPE financiers who will pull the money plug at some critical moment leaving the dumb company to fold.
In knowledge that they have tanked the company, the Jabba the Hut PIPE financiers of course pummels the share values into oblivion without risk.
This is how a company goes down a PIPE into a Rat Hole.
A PIPE financing is the ultimate set up that hunts, as a top predictor, for the weak and stupid small cap anything. Investors and companies BEWARE!
You should warn your investment management not to participate in this type of financing, or at least understand what has happened so you can get out of Dodge before the PIPE financing entity kills the company.
Well bud your right 35 MILLION of DILUTION PER WEEK is nothing if the average volume is 275M. But I suppose having the share price drop 63% from .0049 to .0018 while they are dumping those 35M shares/week is NOTHING as well? Convince the people that bought the stock higher than it is currently trading that thier loss is NOTHING! LOL
Following the current trend in another couple of weeks we can expect the share price to drop another 63% to .0011. And thats not even considering the TAX LOSS SELLING that will add additional pressure into the end of the year.
Well thanks for the compliment Cash Devil !!!!
Now just what two companies are you talking about? Flint Telecom Group (FLTT) and Flint Telecom Limited which is a debt holder of FLTT? Did you know Flint Telecon Limited is a private company owned by Vince Browne (FLTT CEO) and is owed money by Flint Telecom Group (FLTT)? Mr. Brown could take over the whole ball of wax and turn FLTT shareholders into BAG HOLDERS.
Full Disclosure:
My subscription was not gifted and I have not been compensated in any form, unlike other posters on this forum, to provide an UNBIASED perspective on the FLTT situation.
"FLTT average volume for December - 55 Million shares = 275 Million Shares per day!"
Hey bud your math is WRONG...unless you are forecasting ADDITIONAL DILUTION then your probably right on the mark! LOL
"S-1 filed now just have to wait for the SEC to process it"
----------------------------------------------------------------------------------
The key thing to note is that the S-1 HAS NOT BEEN APPROVED. Until the SEC can process the filing there will be more dilution.
From the S-1 filed 12/3/10
Common stock outstanding prior to this offering: 599,981,776
So they dumped another 70M shares on the shareholders since the last filing on 11/15/10.
On average they will dump 35M PER WEEK until the S-1 gets approved.
"Doesn't make sense that someone would drive the price down to sell their shares."
When the shares are given to them free of charge by the company to pay off debt the sellers dont care what price they sell at. They want their money BACK NOW!
"IT DOES NOT ALLWAYS HAVE TO BE ABOUT THE COMPANY SELLING!!!"
Well in this case IT IS THE COMPANY SELLING.
Dilution is evident in the SEC filings:
2008 10K (Filed 06/30/2008) 48M Shares Outstanding
2009 10K (Filed 06/30/2009) 71M Shares Outstanding
2010 10Q (Filed 05/24/2010) 104M Shares Outstanding
2010 10K (Filed 10/21/2010) 352M Shares Outstanding
2010 10Q (Filed 11/15/2010) 530M Shares Outstanding
"Yesterdays news is like 5 monster drinks a day for FLTT!!!"
Yesterdays news is like 14 day old moldy bread thats why the stock is going nowhere fast. They already had a financing agreement in place since June. This pronouncement just changes the dance partner to one with deeper pockets. They STILL have to file an S-1 to activate any of this financing. Who know it could take ANOTHER 5 months to get the S-1 filed and approved by the SEC.
The news release did do one thing though...it brought more pigs to the trough! LOL
There WILL be dilution. It's written into the contract. LOL!
(U) DILUTIVE EFFECT. The Company understands and acknowledges that the number of shares of Common Stock issuable upon purchases pursuant to this Agreement will increase in certain circumstances including, but not necessarily limited to, the circumstance wherein the trading price of the Common Stock declines during the period between the Effective Date and the end of the Open Period. The Company's executive officers and directors have studied and fully understand the nature of the transactions contemplated by this Agreement and recognize that they have a potential dilutive effect on the shareholders of the Company. The Board of Directors of the Company has concluded, in its good faith business judgment, and with full understanding of the implications, that such issuance is in the best interests of the Company. The Company specifically acknowledges that, subject to such limitations as are expressly set forth in the Equity Line Transaction Documents, its obligation to issue shares of Common Stock upon purchases pursuant to this Agreement is absolute and unconditional regardless of the dilutive effect that such issuance may have on the ownership interests of other shareholders of the Company.
".0018....thats just ugly..."
Just give it a week or two. Once the tax loss selling kicks into high gear 0.0018 will look be looking pretty darn good. But thats only if you sell now.
With over 500 MILLION shares in the RED and 23 trading days to the end of the year the stage is set for a disaster. It wont take much volume to move the stock down now that investors have been driven away by Flint's complicit scheme to stimulate demand with recycled news and dump HUNDREDS OF MILLIONS of shares on investors at inflated prices.
Yeah .0018 will be looking real good when this thing is sitting at .0009. They're going to have to change ticker symbol again....this time it will be FLATT. LOL!
OH LOOKIE HERE
I just found some more RECYCLED FLTT news! LOL
Seems they dont tell you everything upfront in a single press release...they'd rather string you along like leading pigs to the slaughterhouse!!!
http://www.istockanalyst.com/article/viewiStockNews/articleid/4697012
Power2Process enters into multi-year agreement with IMM
Thursday, November 25, 2010 6:52 AM
They must have printed more shares over the holiday to dump on the market tomorrow! LOL
Here's another thing you need to know about the "Detoilet and Douche" news.
IT'S RIGGED.
On page 3 of http://tinyurl.com/2010-Fast-500
---------------------------
Selection and Qualifying Criteria
...
Companies must have base-year operating revenues of at least $50,000 USD or CD, and current year operating revenues of at least $5 million USD or CD. Additionally, companies must be in business for a minimum of five years, and be headquartered in North America.
This ranking is compiled from NOMINATIONS SUBMITTED DIRECTLY to the Technology Fast 500 Web site, and public company database research conducted by Deloitte LLP.
---------------------------
The take away is Flint NOMINATED themselves to be on this list. They were not independently selected by Deloitte. If this were an objective list there would be THOUSANDS of companies that meet the qualifying criteria that are PROFITABLE that would knock Flint right off the list.
Here's an even more compelling fact. Semotus, the company Flint merged into was #168 on the same Deloitte and Touche list in 2002. http://tinyurl.com/2002-Fast-500
You can see how well Semotus did...the went private and handed their empty bag over to Flint to be refilled in 2010! LOL So this same old company is using the same old tricks to dupe new and unsophisticated shareholders into handing over their money. Shame on them. I wonder how much they paid for that promotion? LOL
Now the question remains was there any payment made to Deloitte to be on this rather EXCLUSIVE list? That is a question for the next CEO interview! LOL
Boasting does no good if it doesnt boost the stock. The fact is it was USED to drive dilution shares into the market.
Lets analyze the "Detoilet & Douche" news and its effects.
Lets see news released on:
Oct. 22, 2010, 10:42 a.m. EDT
Flint Telecom Ranked Number 72 Fastest Growing Company in North America on Deloitte's 2010 Technology Fast 500(TM)
10/22 Stock Price: 0.005
11/24 Stock Price: 0.0022
----------------LOSS: -0.0028 or 56%
That just about sums up the value of the "Detoilet & Douche" news.
What is an S1:
Form S-1 is an SEC filing used by public companies to register their securities with the U.S. Securities and Exchange Commission (SEC) as the "registration statement under the Securities Act of 1933". The S-1 contains the basic business and financial information on an issuer with respect to a specific securities offering. Investors may use the prospectus to consider the merits of an offering and make educated investment decisions. A prospectus is one of the main documents used by an investor to research a company prior to an initial public offering (IPO). Other less detailed registration forms, such as Form S-3 may be used for certain registrations.
The S-1 form has an OMB Approval Number of 3234-0065 and the online form is only 8 pages. However the simplicity of the form's design is belied by the OMB Office's figure of the Estimated Average Burden - 849.2 hours. This means that long time and effort has been used to collect and display information about the filer (a corporate registrant or new registrant who intends to offer securities). The S-1 form requires that the registrant provide information from diverse sources and incorporate this information using many rules or regulations, such as General Rules and Regulations under the Securities Act, Regulation C, Regulation S-K and Regulation S-X.
Why it is needed:
Flint entered in to a finance agreement with AGS capital back in June where they issued UNREGISTERED shared to AGS. Apparently though Flint cannot take advantage of any of that financing until the shares are officially registered with the SEC via the S-1. Instead of declaring bankruptcy the company has been printing shares as currency and thereby diluting stockholders value. Back in August there were approximately 100M shares outstanding. Flint insiders voted to increase the share count to 900M. Currently there are 529M shares outstanding so they have effectively diluted the companies value by 5 TIMES in the past 4 months. What is now a .0022¢ stock would have been a .011¢ stock if they did not destroy shareholder value like they did. The problem is they can still issue another 371M shares before they hit the 900M limit. With the difficulty involved in filing an S-1 (see the blue text above) especially since they are a small company with few resources it is likely that more dilution will occur sending the stock even lower. Once the S-1 is filed and approved the company will have access to money without having to destroy shareholder value.
Caveat Emptor!!!
(and I'm not talking about the Irish television show LOL!!!!)
How many time is this news by "Detoilet & Douche" going to be recycled here?
This statistic is based on Revenue not PROFITS. The ONLY reason they are on this list is because the previous shell of a company barely generated any revenue and Flint acquired 6 operating companies when they reverse merged in the previous company. Since then they have shut down 2 of those companies and have YET TO POST A PROFIT.
I dont see what the big deal is here except that it was just another promotional tool used to help the company dilute it's shares 5 times over.
People need to see through the smoke and mirrors here.
Well how many of those 42M shares have just been printed and are being dumped by the company? Shareholders have wised up to the antics of this company and their promotion tactics. Here's just one example http://investorshub.advfn.com/boards/read_msg.aspx?message_id=57071484
Every time news has been released it is so the company can dump more shares on the market.
Last Price: 0.0022 Change: -0.0004 LOSS:15.38%
42.3 M shares and the price moved DOWN if you didnt notice. Back in August 42M shares would have been almost 50% of the O/S. Now it is only 8% of the O/S. Your 6.25M shares for promotional compensation were at one time 6% of the company now it is barely 1%. I'd say you've been duped too.
Before the last CEO interview any news would drive the price up until it hit the dilution wall pegged at .005. Now after the recent CEO interview people have realized this company is not going to be an overnight sensation like it was promoted. Traders are puking up shares and longs are disgusted. Tax loss selling will soon kick into high gear. Time for Flint to recycle some of that old news again and again and again! LOL
Hey saibling you hit the nail on the head.
"Seems like dogshit,sinking in deep calm water without resistance,sinking,sinking"
The company released that red herring PR about $10M in funding back in June and they still have not received a dime. Since then it has used and abused shareholders by dumping over 400M new shares on the market as a substitute for financing. 5x the amount of shares that were on the market as of August. They could never have dumped that many shares without manufacturing news and the continual "promotion" of the stock here and on other boards. Well now the loyal followers of those promoters are either tapped out and can no longer buy any more stock or they are seeing through the smoke screen as you are.
Now there are over 529M outstanding shares and most of them are underwater. With the end of the year approaching and the stock price sinking lower and lower irregardless of "news" the prospects are not looking good for longs as there will be major tax selling. I wouldn't be surprised to see this retesting the .001 lows near the end of the year.
Vince had better get that S1 or it's curtains for Flint.
Alright here's my multiple choice question to Vinny...
How many FLTT shares will be outstanding on 11/23:
A) 600M LOL !
B) 700M LMAO !!
C) 800M OMG !!!
D) 900M WTF ????
Cajones??? Are you kidding?? This is an act of desperation!!!
If Vinny wants to keep his company out of foreclosure by Thermocredit he has to do everything and anything. With the stock plummeting to .0022 cents he HAS to manufacture some news or ELSE.