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http://www.141capital.com/index.php/open-an-account
sorry if already posted... haven't had time to keep up on this board lately, but this appeared new to me
gbathat
my guess is they could not be too specific about the deal in this PR and that it is for 1200 screens.
Spooz management included John Unwin, per the Spooz website, so it was a necessary distinction, imo.
I have an email from Mr. Unwin confirming that neither spooz or spooz management has any stake in Kaitrade.
From the email...
"Thank you for your email and interest in KaiTrade! Kaitrade is aprivately held LLC, our aim is to role out Spooz toolz and then at alater date introduce our own products, neither Spooz or its existing Spooz management have any stake in Kaitrade,"
Peace,
Gbathat
I think spooz will keep selling, but mostly managing... the fact that they are outsourcing the support and some of the selling suggests to me that they have or will have a lot more than 1200 customers.
gbathat
Hi Peeved,
I think having other companies help with sales has been part of the plan all along. Just scan through the affiliates section on the spooz website.
I think the take for sales is/was 10% for the first ten months of use... of course, this may have been geared more towards the retail release, and things may have changed with the recent increase in cost for spooztoolz base package.
http://www.spooztoolz.com/affiliates.aspx
I have no idea what the take will be for support.
Peace,
Gbathat
God grant me the serenity to deal with the things I cannot change; courage to change the things I can and should; and wisdom to know the difference.
Shine, I believe that is a great point.
Spooz is establishing a lot of big kudos here imo, consistent with their previous track record. Remeber how Calyon invited them to speak on their algo trading panel at the FIA expo last year? Remember how VcapFX, a company that only accepts accounts of hundreds of thousands of dollars, was planning to release STV2 compatible versions of their software?
Those are concrete relationships with three leaders in the field. Not bad for a penny stock! Sure, the VcapFX deal was delayed (I called them when they took Spooz promo off their website to learn this), possibly due to the lawsuit delays.
Fact is, the big dogs are impressed by SpoozToolz. I am confident we'll hear about more deals soon.
Gbathat
from today's pr, I see good news and am not worried by some of the doubt being cast by a few here
If it was not in the economic interest of the company to have junwin install and support Spooztoolz, they would not have done it.
To me, there is no need to have a separate entity for this- unless there are many deals to come. Surely, Spooz HQ could handle 1200 users, right? Bloomberg has its own techies too after all.
I may be totally wrong, but that is my gut feeling. I think John is going to be hiring:D
Gbathat
The deal looks fine to me, though very complicated. I don't have a ton of shares but might convert some of them to balance risk.
The question you must ask yourself- How much do you think XXIS will be worth three months after Nov 7th? I don't think we know.
The company is betting that the pps will be .00125 around that time. Otherwise, they'll have to issue more shares on the back-conversions, which is definitely not their objective here.
If the pps is lower than .00125 after three months, you could increase the number of common shares you own, though the o/s would potentially be increasing.
If the pps is higher, then you get fewer common shares than you have now.
But there is risk if you do not convert as well. If a lot of people convert, and the pps stays low, your fractional ownership of the company might decrease significantly when everyone else converts back.
just my opinions.
What are the terms and conditions of the conversion rights of the Series B Convertible Preferred Stock?
No conversion of Series B Preferred Stock to Common Stock can occur until after a holding period of three (3)
months of the date of the certificate. Thereafter, at your option, you may convert the Series B Preferred Stock into
Common Stock. For purposes of conversion, the value of each share of Series B Preferred Stock will be deemed to
be $1.00. The number of shares of Common Stock to be received upon a conversion will be based on the value of
the Common Stock at the time of conversion, less a 20% discount. That value will be based on the average closing
bid price of the Common Stock for each of the five (5) consecutive trading days immediately prior to the date of
conversion.
Illustrations of conversion rights:
(a) Assume you hold 1,000 shares of Series B Preferred Stock. Assume further that the market bid of the Common
Stock is $.50 per share. Because you have the right to purchase these shares at a 20% discount, your cost per
share on conversion is $.40. The number of shares of Common Stock which you can receive upon conversion will be
2,500 ($1,000 divided by $.40 per share).
(b) Assume you hold the same 1,000 shares of the Series B Preferred Stock. Assume further that the market bid of
the Common Stock is $0.05 per share. After your 20% discount, the number of shares of Common Stock which you
can receive upon conversion will be 25,000 ($1,000 divided by $0.04 per shares).
http://www.141capital.com/pdfs/Offer_to_Exchange_Common_Stock_10-09-08.pdf
website looking sweet by the way
http://www.141capital.com
I'm with you seek
hard to make a clear decision without knowing the current o/s
I think the company is expecting a run. My guess is when you convert back, the conversion rate is based on $1 divided by the share price at that time.
I will do some reading though to learn more.
Peace,
Gbathat
Agreed, 250K seems low, but perhaps it is all the defendants may be able to come up with and hopefully a little more.
So maybe this low number knocks them out of business for good while ruling out any questions that Spooz is financially motivated in the lawsuit, which a judge might see favorably. If the judge thinks, clearly, they could be asking for much more money, I imagine it will take less time to settle the case in Spooz's favor.
Just speculation from someone who knows almost nothing about court cases...
Gbathat
MC, that was impressive:D
Don't forget that this guy ( http://www.linkedin.com/in/jameshensel ) was so impressed by their software that he eventually took a job with them, and now serves as GLOBAL business development manager.
:D
(edited) I'll try to find out.
I emailed Ms. Clifford and will post any responses here.
My guess is Spooz is not involved, based on previous emails, but now I am doubting that guess.
Sure would explain why Spooz never took down those PRs from the front page of their website. I found that fact particularly curious when they took the Bloomberg one down, but not the other two outdated PRs.
Perhaps they struck a revised deal after my last correspondence with Ms. Clifford.
Actually Catani, if you look at the shareholders' notice, recently posted below by Alliecorp, the deal is with Tradebook, not just Tradebook LLC as you seem to be implying.
but the revenue noted is associated with Tradebook.
"Tradebook grew 18 percent by revenue to some $420 million"
possibly the 14.3M number you (or someone else) provided was only for US sales... they do have eight other offices around the world, all with unique names and possibly their own accounting.
http://www.bloombergtradebook.com/locations.htm
They've fed me two other excuses... not sure which is right... if any.
News for 'XXIS' - (141 Capital, Inc. Establishes Initial Account Company Moves From Trading Test Accounts to Trading Customer Accounts)
CHICAGO, Oct 02, 2008 /PRNewswire-FirstCall via COMTEX/ -- 141 Capital, Inc.,
(Pink Sheets: XXIS) is pleased to announce that it has secured its initial
customer account that it will use to begin trading on behalf of its new client.
141 Capital will invest the funds in the S&P Mini and bond markets using its
proprietary algorithmic trading systems.
The three algorithmic trading systems that 141 Capital is employing are the
VWAP, Volatility Momentum System and the Bollinger Band. VWAP is a reactive
system that works best when markets are trading sideways. The Volatility
Momentum System combines pattern recognition features with volatility associated
with directional momentum. The Bollinger Band System is also a reactive system
that attempts to verify divergent prices away from fair value.
"We have completed beta testing on our suite of trading systems and we're now
accepting new clients. We will be working very hard to build our clients'
portfolios and generate revenue for them. We are confident that the systems
we're using will provide excellent returns, attracting many more accounts,"
stated Errol Stone, 141 Capital's CEO.
About 141 Capital, Inc.
141 Capital, Inc. is a publicly traded company based in Chicago. It provides
electronic trading systems for trading financial products listed on the world's
derivatives exchanges, including foreign exchange futures and options (mostly on
the Chicago Mercantile Exchange), equity index futures and options worldwide,
energy futures and options, grain futures and options and fixed income futures
and options.
Forward Looking Statements
This press release contains statements, which may constitute "forward-looking
statements" within the meaning of the Securities Act of 1933 and the Securities
Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act
of Forward-Looking Statements: This news release may contain forward-looking
statements as defined by the Private Securities Litigation Reform Act of 1995.
These statements present management's expectations, beliefs, plans and
objectives regarding future financial performance, and assumptions or judgments
concerning such performance. Any discussions contained in this release, except
to the extent that they contain historical facts, are forward-looking and
accordingly involve estimates, assumptions, judgments and uncertainties. There
are a number of factors that could cause actual results or outcomes to differ
materially from those addressed in the forward-looking statements.
SOURCE 141 Capital, Inc.
(edited) let the trading begin!! wooohooo!!
okay, reading carefully, it doesn't say trading has begun for sure, but the money/account is there, and the beta testing is done, so 2 + 2 = trading now or soon... nice
gbathat
bloomberg
nuff said.
regarding scottrade restriction...
Dear Client:
Thank you for your e-mail.
At this time Scottrade is not permitting new purchases of this security
within our accounts. We do regret any inconvenience this may cause for
you. This trading restriction is due to the cost prohibitive clearing
requirements of the particular company's transfer agent.
This restriction has nothing to do with you purchasing the shares with
your own money or not.
Please let us know if we may be of further assistance.
Sincerely,
Rick Jewell
Senior Stockbroker, National Service Center
Scottrade Inc.
low vol today, well dry? let's attract some buyers and let this thing fly!
thanks:D sorry about that...
I think/hope we saw the last of the dilution today. I did not check the o/s today, and old monmouth is closed now or not picking up
but yesterday, the o/s and a/s were 4.91 something billion and 5 billion, respectively, which would leave about 80-90 billion shares that could be put out on market
if you subtract the buys from today's volume, you get a number in that neighborhood of 80 billion.
so hopefully no cheapies tomorrow.
just my guess, hope it is correct
peace,
gbathat
fantastic zoro! Thanks for sharing your dd.
Peace,
Gbathat
o/s 4.9x billion
a/s 5 billion
per old monmouthe... o/s has risen slightly... hope that a/s stays put
peace,
gbathat
"Due to mutual client demand,"
best part of the PR imo
The question is, how much mutual client demand would there need to be in order for Bloomberg to make such a deal with Spooz?
Lots me thinks.
have a good day all
peace,
Gbathat
Woohoo!!! That's all I can think right now!
Thanks to all here.
Gbathat
anyone know why scottrade won't allow buys on spzi or xxis these days?
It's really annoying. I've called them several times and they cannot provide an explanation for why it is on the no buy list.
tia, and hello to all the new faces around here... welcome aboard and good luck!
gbathat
Howdy Spoozville,
Hope everyone is doing well. Could be some good times ahead! Yes, we have heard that many times before, but it's make or break time, imo, and I hope we'll make some good gains.
Good luck, and have a good weekend!
Gbathat
lol BB, easy now!
lol cent :D Have to agree with you there.
I think many who bought at .0001 must have done their dd as the chart certainly was not attractive, imo. That may result in fewer quick flips... which might make it hard for those on the sidelines to get in.
Let's just hope for some news to seal the deal. :D
good luck
gbathat
cue the jaws music
chum is in the water apparently
the right (reve)news and this thing just might get back up to last year's high in a hurry, imo, which is good since I'm still down about 50% at .0006 pps, even after averaging down :D
good luck to all
or it could be a long one... great speculation about speculation!
actually, I generally agree with you. No excitement for me (beyond that generated already by the stabilization of o/s) until I see some news and the big sharks come to prey.
The pps should not be our indicator of the potential here. It is nice when it goes up, but good news is far superior to a few upticks, unless your flipping, which I'm sure many will do if they got in at .0001 .
Thanks Milo. I was thinking about calling them last evening, which is why I asked. I knew I wouldn't have time this morning.
Take care,
gbathat
Thanks, Reed, I am aware and saved the whole site as I was browsing it...
if anyone needs a look, let me know
that's wierd, I don't see any links to the other pages on the website there.
When did you call Allie?
tia,
gbathat