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Tom needs to issue a PR now.
And clear up the following.
1. What "non strategic assets" will Wisebuys sell?
2. Is Stillwater Capital still on board? If not, why not?
3. Is the dilution over and who was responsible for yesterday?
I can't answer PMs. And if anybody cares to look at my posting history, you will see that I dont take unfair sides. I feel responsible when I post something good about a company, and I've posted many good things about SWVC... but when I see something I dont like, I also post that as well.
I'm out of my position in SWVC. I may miss the boat and that means I lose and some of you may win and I hope you do win. I would like to win with SWVC as well, but I can't stay with it until these questions are answered. All the things that looked good, still look good, but Tom issued a very strong PR on Stillwater which got me hooked in. I can't verify whether Stillwater are still in the picture.
So Im out.
Stillwater wasn't a rumour.
"Well if you go back to the Post STillwaters was a Rumor nothing more than that"
Read the PR above on this page... The following can hardly be considered a "rumor"....
NEW YORK--(BUSINESS WIRE)--WiseBuys Stores, Inc. ("WiseBuys") announced today that it has received a Term Sheet for up to $4 million in financing for the acquisition of Hacketts from New York-based Stillwater Capital Partners, Inc. The financing, which is being arranged and managed by The Oxbridge Group, is subject to final due diligence, the completion of definitive agreements, and $300,000 in additional equity investment.
That's the "general" definition.
And the PR is certainly telling us unequivocally that those assets are valued high enough to pay for the Hackets acquisition, but this raises other questions"
1. Is Stillwater in or out?
2. What are these "assets"? Specifically, what are they going to sell?
Somebody else can call, Tom.
I don't like cryptic PRs where I have to play Sherlock Holmes to figure out what the company is telling me. On Aug 2nd, SWVC made a big PR with Stillwater's name. Then on Sept 18, Stillwater is not mentioned and in its place we have "non strategic assets".
People were getting excited about Stillwater this morning, so I looked closely at both PRs and I had questions.
Why does SWVC list Hellman's name and number as "Investor Relations" if we're not supposed to speak with him?
If somebody else can call Tom and get an answer, than please do so. We need answers.
some DD from an Aero consumer.
The following is a comment from an article titled
"Top 7 After-Market Toyota Tundra Accessories"
I love seeing message board posts like this one:
# Kenny Says:
August 9th, 2007 at 7:30 am
"I personally enjoy the power sound of my new Aero Turbine exhaust. It’s quite once you hit the highway but loud enough to show presence in town."
http://www.tundraheadquarters.com/blog/2007/05/23/top-7-after-market-toyota-tundra-accessories/
I asked IR/Hellman about Stillwater.
Me: I'm calling to inquire about the most recent Sept 18 PR concerning financing of the Hackets deal for Seaway. The August 2nd PR mentions Stillwater having made an offer to finance the deal, but the Sept 18 PR doesn't mention Stillwater. Instead it says the financing will be accomplished via Wisebuys selling "non strategic assets". Does that mean Stillwater is no longer involved with this deal?
Hellman: I would imagine so. I don't know.
I have been on the phone with Hellman/IR three times this week, and have not been happy with any of the phonecalls. I asked him about "Non strategic assets" the other day. He said to call him back and he would have an answer. I called him back and he said either,
"It's property." or "It's properties."
Then I asked him, "Does that mean they are selling a Wisebuys location?
He said, "Something like that."
I was about to post this on the board the other day, but my notes were scribbled and I wasn't sure if he said "property" or "properties", so I called him back once more for clarification. While speaking to him, I mentioned I would be publishing this on the Ihub board. He then asked me not to do that claiming that he wasn't sure.
"My manager told me that but he's not sure either."
I then asked him why he used a tone of certainty when I called earlier and he said, "I shouldn't have done that."
Yesterday, I tried to get some info on the O/S change and he wasn't able to clarify anything.
I don't think it's Hellman's fault. SWVC is not giving the man anything to answer our questions with. I'm not happy about this aspect of SWVC. They are releasing conflicting PRs. It appears now that the Sept 18 and the August 2 PRs are in conflict re: Stillwater.
Furthermore, nobody form SWVC will tell us what "non strategic assets" are which appear to be taking the place of Stillwater's financing.
These are legitimate questions arising from language in PRs. Since this stuff was issued in public PRs we deserve clarification.
I called Stillwater, wasn't able to get Doueck. Maybe somebody else will have better luck on that.
Re: Aero financials
If FCCN shareholders are getting, let's say, 23% of Aero, what would the Aero financials have to be in order for the current PPS to be undervalued?
Anybody have a clue on fair value?
Re: Stillwater
There was a post on this board last week which linked to a financial news article. (Link is below)
At the bottom of the article was a comment from Jack Doueck of Stillwater Capital listing criteria for a solid investment opportunity. The criteria, which I've copied below, appear to encompass everything which is good about Seaway.
But in the interest of being objective, I'm a bit curious about the change in language between the August 2nd PR and the Sept 18th PR as they pertain to financing the Hackets deal.
The August 2nd PR announces an offer from Stillwater and it was Stillwater's involvement which was the final factor in my decision to buy and support SWVC. Not the only factor, but the comments by Doueck (copied below) make for sound investment strategy and since the Aug 2nd PR showed Stillwater putting that strategy in effect as to financing Seaway's purchase of Hackets, I also invested in SWVC.
So SWVC announces on Aug 2nd that they have the funds to close the Hackets deal with financing from Stillwater. But then the Sept 18 PR states again that they have received a "commitment" for financing for the Hackets deal but they don't mention Stillwater. Instead they say that Wisebuys will sell "non strategic assets".
So, my question: Is Stillwater still involved?
Below are Jack Doueck's comments from the article linked to below:
"Dear Carl, Like your musings on discount electronic retailers, I was also exploring other financial thoughts and came across Benjamin Graham’s principles, and I think they apply to all aspects of investing, even in foreign stocks. Here are seven of his principles on buying stocks that I believe are worth hearing sharing:
1. The companies should be soundly managed.
2. The companies have demonstrated earning capacity with a likelihood that this will continue.
3. The companies should have consistently high returns.
4. The companies should have a prudent approach to debt.
5. The businesses of the companies should be simple and investors should have an understanding of the companies.
6. Assuming that all these thresholds are satisfied, the investment should only be made at a reasonable price, with a margin of safety.
These principles align with our ideals at Stillwater Capital of providing the potential for clients to preserve and grow their capital using a risk-controlled approach to investing.
Thanks for listening! -- Jack Doueck
Jack Doueck
Stillwater Asset Backed Strategies
Stillwater Capital "
http://seekingalpha.com/article/20069-discount-electronics-retailers-led-by-wal-mart-launch-first-ch....
Im down with that. SWVC, keep it together. Looking forward to our leader's next communication. Much sooner than a little later I hope.
Falling is relative.
"if people would have just held when the price went up, it would have kept going up, but no, it goes up 2-3 ticks and people sell. "
The price doesn't always go up on "that day" when people hold. People may hold and there may even be buying up the wazoo, but if the MMs are naked shorting, it will "appear" as if people are selling, which causes weak hands to actually sell, but as the weak hands fall, the MMs begin to get the picture and then they will move it up.
however, the best scenario for Longs is when the MMs overplay their hand, bluff too often and risk too much on that bluff. when they run up against a group of longs who are powerful and stable, a group who are the opposite of WEAK backing a real company doing real business...then MMs can get screwed and isn't that just beautiful.
there is no more satisfying way to make money than to take it from the MMs. that is truly honest money in your pocket.
"in turn making others freak out and sell lower, right into the mm hands. so why is this stock still falling?"
The stock closed yesterday at .0255, and today it closed at .024
The O/S was increased by about 30 Million and the MMs took advantage of that. But really, that being considered, I think the Longs held up pretty good.
Why are you calling Tom a liar?
"this company has no assetts as of NOW!!!"
In the last PR, Tom clearly stated that the final acquisition financing for the purchase of Hackets will be accomplished through Wisebuys selling "non strategic assets".
"assets"
You should correct yourself now or hopefully be banned for this misrepresentation.
To beat the MMs you must be in a company you believe is a winner despite the daily PPS movement.
Then you do the opposite of what the MMs want you to do. You BUY on dips and sell high. They want you to sell low and then buy high. They are professional manipulators. Unless you believe they are benevolent doves who just want you to make money all day long.
Nobody can tell you whether SWVC is the type of company you can beat the MMs with. That decision is based upon your DD and your gut and your skills.
I have no problem with people flipping, trading etc. And I do not know what SWVC is worth. I just don't believe the PPS is operating on a free market basis unchecked by MM manipulation. If that were the case we'd be off of REG SHO.
REG SHO List proves you wrong.
"Point taken but either way if night is sitting there and demand came in for shares i can gaurantee you he will run out of shares"
You can't guarantee that at all. It's called naked shorting, brother. You know, like when you sell something you don't have in multiples of exponential fairy shares which nobody in the Government ever makes you come to justice over...
What kind of fantasy land are you living in? The MMs let the prive rise a bit, then they short it like hell, and then they swing it down and cover... they do this in short bursts making 10 to 20 % each time, and then they play long ball om the shorting thing as well...
FTDs showing up on REG SHO for weeks now and you don't think NITE can just sit there and sell for as long as they like. They can and if it gets to obvious then they spit out a call to a crony who takes over at the wheel.
Holding is the only way to win, but you can only win if the company is real and not a penny phantom. That's where the DD comes in and each man is tested as to what they truly believe and how much work they've done.
I'm not giving any price predictions or valuations. I have some questions about revenue vs profits I'd like answered, but I'm certain this company is NOT a penny front pump and dump. I've spoken to employees at Wisebuys. This is a real company that is worth more than 3 cents. Of that much, I'm certain.
SWVC is in play, big time.
37,000,000 volume
And that's on a bad day. They are coming out of the woodworks now, people.
The bear raid didn't get the job done today. PPS was put through hell and rebounded each time. SHORTS are not happy and will be bashing all night.
The race is on. The 8K is the stake in the heart of Shorts/MMs...
If they can't kill PPS before the 8K or next positive PR, then they are going to suffer. Last PR was just a preview of the 8K and we hit .034 just after it was released. That scared the crap out of the Shorts.
Th PPS held up, all things considered. I believe somebody BIG didn't cover at .022 today which would probably have given them a loss, but one that other MMs were willing to take.
The large SHORT sitting on this still thinks they can get it well below .02 so they can make some money down there as opposed to just reducing losses at .022
So expect bashers to be on the move.
This is war. And this is also just my opinion.
If there weren't big short FTDs we wouldn't be on REG SHO list, and it's that small detail you left out of your post.
Disagree.
NITE sat on that ask at .25 for over an hour when there was ASK stacked up behind no lower than .027...
The stock has been on the REG SHO list for about a month. The MMS are shorting it and taking care of each other.
If people want to flip, trade etc, that's cool, no problem, but don't believe for one second that the MM overlords aren't causing mayhem. It's what they do best and they profit from it.
To say otherwise is at best naive, and at worst part of the MM manipulation.
And it's important for people to know that they are making money on these swings. It's a rigged market for them because they know beforehand just when it's going to go up and when it's going to go down in the short term. The only thing the MMs can't be sure of is HOW BIG THE SWINGS WILL BE.
That's up to us and whether we panic or not.
So people need to understand that the only way to beat them is to know when they are messing with minds and to not be effected in the short term.
NITE sitting on ASK for 47 minutes...
NITE at .025 ASK, and below that it's .027. NITE is just sitting there for 47 minutes. And you don't think there's a short panic in the area.
The MMs are creepy, we all know that, but they don't usually act as blatant as this. 47 minutes on the ASK. This is so bullish, it's scary.
You are witnessing a text book non free market intervention via the manipulation of our stock market. Behold it.
This is all of the problems with America in a nutshell. Free market? Free speech? Free country?
I don't know, people. I don't know what we're going to do.
We've got a wonderful company here that employs people, and has created a very solid franchise. And on the other hand, we've got NITE sitting on the ask for 47 minutes on a crucial day in this stock's history.
What can we do about it? Well, writing to the SEC isn't gonna do crap. All you can do is BUY and HOLD, but that, as it turns out, is also the best thing you could do, and the thing which will hurt our adversary the most.
Someone big didn't cover.
I think a big short missed their chance.
Somebody is desperate to cover who got greedy on that last downturn.
Be careful now, there might be one more attempt at a repeat of what we just saw. I'm gonna say it again. Hold now. We could have a genuine short squeeze right here, right now. Today.
If one of the BIG shorts got greedy while the other MMs covered, they might be left holding the bag.
Shorts are action addicts, like those addicted to gambling. They thrive on negative momentum. Some are PROS and know when to cover. But the time to cover just passed. Somebody has been a naughty boy. Make him pay. Hold.
Just my opinion as usual.
Nice. Now we have volume +
We've got the stadium filled for the next game people.
Where's the rally monkey?
Where's the "I like to move it move it" dude
throw some animation links
get the popcorn buttered
warm up your "weeeee"
GO SWVC GO
Awesome. started that post ...
when the PPS was .023 and now the ask is at .027...
awesome
Dont panic. This is bullish.
I told you today (in the post Im replying to) was the day the MMs would be doing this. I called it on the nose from watching the L2 minute by minute for the last week.
The O/S at 548Mil is nothing. It means nothing.
It's probably bullish. Either Cornell is done or the Wisebuys
other shareholders have been compensated.
These were both expected. We knew they were coming. If you didn't figure that into your purchase, you have been negligent on DD.
And don't rag on Tom, he let us know in the PR that no "new" dilution would be used to pay off Hackets. This here is something that was expected. Wisebuys and Hackets had over 25 MIl in revenue last year, and Seaway is more than just those two retailers.
$750,000 does not add up to the PPS drop we've just seen. That's MMs manipulating the PPS and grabbing shares to cover.
Try not to be a weak hand. This is war.
I Just bought more shares.
Just a feeling I have....
The following is just a gut check feeling I have after watching the L2 for the last week, literally tick by tick.
I think the MMs are trying to stay level-heaed about the dangerous situation they've created for themselves here. I feel like there is a huge MM short position which they've added to as they've quickly stopped each rally by running it up in short spurts then quickly shorting it based on the run up, yesterday and right after the last PR stand out as examples.
They are planning one last big move to the downside to cover because they know the 8K is going to bring alot of new money in here. There is a ton of money on the sidelines with new whales who understand this dynamic waiting for the final MM shakeout before the next BIG run. These are pro traders AND investors. And they all KNOW SWVC is a winner at these prices.
But they also know how the game is played and that the MMs are naked as all hell right here, right now, at these levels. And the MMs are going to test us. If we hold, they will be forced to run it up so that they can then short it again and cover in small bursts.
However, as long as we dont let them cover big positions with a patented shake down before the 8K is released, then we will trap them.
There is blood on the tracks right now. This is war and the MMs are used to being able to manipulate a stock, but SWVC Longs know what they've got and an informed long is the MMs worst enemy.
HOLD.
I think it's just fascinating the way Tom wrote the last PR and dropped that on us. It's a tip off to those who really do the DD and it probably slipped right by alot of people who are just looking to make a quick fix.
Before this PR, I didn't know Wisebuys "owned" assets of this nature.
Thanks for moderating the board. :)
The last PR CLEARLY says that the Hackets acquisition will be financed through Wisebuys selling "non strategic assets". We discussed this yesterday on the board.
The PR also states that there will be no debt or equity financing (so no dilution) used to finish the purchase of Hackets.
As we discussed yesterday, the latest PR confirms that Wisebuys owns "non strategic assets" with a high enough monetary value so that the sale of those assets will finance the final aspect of the Hackets acquisition. And we came to the conclusion that Wisebuys is more valuable than we had originally thought because this latest PR proves that they own real assets as opposed to just liabilities, ie a lease might be considered a liability, whereas owning real property is an asset.
Yesterday's PR says "week of Sept 28th"...
Weebie : not not that company you asked about in the PM. I cant send IMs.
But your post misquoted Andrew.
"So, I guess I could have went through all the detail you did, but instead I put two and two together."
You can't say that something was "quoted" by Andrew when it wasn't. Your post said:
"Andrew is quoted as saying the 10k will reveal that the Convertible Debenture with Golden Gate has been paid in full."
Andrew did not say that. He said that it will either reveal that the debenture is paid in full "or" in the alternative, it will tell us how much of the $92,000 is left over.
"Franchise Capital and Aero Exhaust expect to close the acquisition during the week of September 30, 2007."
Nobody has committed to a set date, just during that week.
As I said, nobody is claiming you misquoted on purpose, but you did misquote and it's certainly easy to do with all the technical jargon.
It's all good.
DD: from Andrew at IR...
Andrew is the best indie IR guy around in my opinion. I was on the phone with Andrew about another company for about 25 minutes last week. Andrew is not a pumper IR person. He is straight as an arrow and his information was careful to play down hype from internet forums as he focussed my attention on the real things that were happening as opposed to fairy tales.
So when I read your post quoting Andrew as saying the debenture with Golden Gate was done, I immediately called Andrew to confirm this. While the accurate information I received from Andrew is very bullish, you misquoted him. I do not believe you did so on purpose and either does Andrew. This stuff is tricky with the lingo, so let me clarify what Andrew said. And he has allowed me to quote him as to the following.
1. The coming 10 K will "UPDATE" us on the Golden Gate debenture escrow. As of the June filing, there was $92,000 worth of escrow left over for GG. Of course that $92,000 is worth more than current market price. The 10K will tell us that either there is less than $92,000 -- and it will give us an accurate number -- or it might even say that the debenture has been completed. So the 10 K will just be an update.
2. THE GG DEBENTURE ESCROW WILL NOT SURVIVE THE CLOSING WITH AERO. Aero will NOT inherit the debenture. Andrew can confirm that by the time the deal closes with Aero, the debenture will have been completed if it is not already completed now. Satisfaction of the debenture will DEFINITELY be done before the closing.
DD Re: "Non strategic assets" (part 1)
[I should be following up on this post. More to come later.]
Here's some DD on the term "non strategic assets" as it pertains to investing. The following text comes from a real example of one company explaining why it sold such assets. The following text is from this link:
http://www.dmreview.com/article_sub.cfm?articleId=3477
"Non-strategic assets are viewed as critical to the business, but they can be leveraged for other purposes... This does not mean that non-strategic investments are not key to corporate success. It means they represent an opportunity to gain access to locked-up capital."
Not take a look at this...
http://www.eta-solutions.com/home/home_01.html
"Strategic and Non-Strategic Assets
If shareholders invest in a company that makes furniture, they expect an attractive Return On Equity from making furniture! Therefore, the company management's fiduciary responsibility is to concentrate on maximizing its shareholder's return from the business of making furniture. As a consequence, management must invest in strategic assets which primary purposes are to make furniture in the most competitive way!"
For Wisebuys to be selling "non strategic assets" they MUST OWN these assets. We know from yesterday's PR that these "non strategic assets" are worth enough money to finance the Hackets acquisition eliminating the need for debt or equity financing (so no dilution).
So it certainly appears that Wisebuys owns real property and is selling that property to fund the Hackets acquisition.
If Wisebuys does in fact own real property, as opposed to just being a tenant, than I believe it's fair to say that the company is worth more money than if it were just a tenant. I believe public confirmation that Wisebuys owns real property would be VERY bullish.
I have been given some guidance as to the nature of these assets. But I am waiting for confirmation later in the day.
This is all I have right now.
Does Wisebuys own their any or all of their stores or do they rent the spaces?
Does Wisebuys own any property with such ownership having been publicly disclosed?
Im working on some DD and will post it shortly, but I need a little more info before I post.
IM IN!!!!
Just made the leap. GO SWVC GO!
Now somebody please answer my question from before
What are Wisebuys Non strategic assets?
"Financing will not involve the issuance of new debt or equity, but rather the sale of certain of WiseBuys' non-strategic assets"
What assets does this refer to?
If this is how they will finance the new non-retail investment, it would be nice to know what they refer to? Anybody?
Alphatrade is off line for 2 days in a row. I cant get my Level 2. Damn.
Unbelievable. This happened yesterday just before I got my bid in.
Isnt it illegal for them to put my bid in lower?
Non strategic assets?
"Financing will not involve the issuance of new debt or equity, but rather the sale of certain of WiseBuys' non-strategic assets"
What assets does this refer to?
Thanks.
Never got filled yesterday with bid ABOVE last sale...
I put in a limit order for just over 100K shares @ .0205 AON yesterday at 3:45 when the ASK was at .0205.
The ask closes at .0205 and the final sale of the day was .0203
I never got filled. Should I be on the phone complaining to my broker? Im new to online trading.
Yeah, Aero will take over FCCN with Aero as the subsidiary and Aero management running FCCN. Thanks
Will FCCN still be looking for exciting acquisitions for other companies after this deal goes through, or does the coming name and symbol change mean that they will be exclusively focussed on Aero?
Interesting analysis. Thanks for that.
50 stores?
Was that in a PR? That's awesome news. What PR was that?
Thanks for sharing the DD. Much appreciated.
"forecasted revenue is above 100 Million"
from 25MIL (Wisebuys/Hackets) revenue for 2006, how do you get to 100 million and for what year are you projecting that?
Thank you, Pietro. This is a very exciting stock. All shared DD is very much appreciated. Here's a few minor DD tidbits which influenced me towards this deal. Mostly happy consumer reports on Aero from various boards.
http://forums.stangnet.com/showthread.php?t=606933
http://www.carspace.com/videos/play!id=.5a548397
http://ezinearticles.com/?Aero-Turbine-Mufflers-Increase-Power-And-Fuel-Economy&id=558710
http://ezinearticles.com/?VW-TDI-Performance---Building-A-Beast&id=379870
Now that is good news.