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i didnt write that investor911 did, you should thank him I am just reposting so others can see.
REPOST
SWVC - Reverse Merger Completed- 8-K Consolidated Comments:
We are no longer an empty shell. Reverse Merger completed Successfully, Wisebuys in 100%%%%%%%%. We are now a TRUE Holding Company.
1. First look of 8-K is much better than I expected, and many other will concur with me. Float 450,099,879 shares are outstanding
2. we are a profitable company now!!!! Even goes beyond my expectations!!!!The 8K has some great information in it and it is now the foundation for us to build on! Look at the conversion rate on the Class C's. It is $4.00!!!!
3. The 8K, demonstrates a very real purchase of a Company with very Real Assets and Management, key indicators in the Wisebuys Balance Sheet are overall Strong including key Bank Indicators such as Quick and Current Ratios and Debt/Equity as a Whole.
4. It demonstrates that we have a performing Company with ASSETS and $ 10,000,000 in Sales pre Hacketts, not including other Seaway Holdings. Around November 30th we will be a 25-30 Million Dollar Company with an even Stronger Consolidated Balance Sheet once Hacketts is rolled in to Wisebuys which has been rolled into Seaway.
5. As the planned Wisebuy Stores change over to Hacketts, control of Logistics, Inventory etc will be under one roof as the models merge....and sq, ft. sales align UP....then an announcement for Expansion of Stores and the Hacketts Brand to other areas.
6. we realized a 4% increase in gross profit, from $737,556 in the six months ended July 31, 2006 to $804,533 in the six months ended July 31, 2007.
they not only had profits but they increased
7. Balance sheet is definitely healthy. Current assets is almost 4x current liabilities at January 31. Also, gross profit has increased from the prior period. A very solid 8K IMO.
8. This is very positive! Tell the world, the reduced sales REVs are because of the new business plan to use Hackett's model, to remove soft good partnerships and introduce Hacketts branding, for higher Price & higher Margin goods in the new business model.
9. " The lower margins and lower per item sales prices of the goods are generated primarily because of WiseBuys' third party partners in "discount"
clothing and footwear. For the future, WiseBuys management intends to supplement or replace these partners with internally procured merchandise of higher
quality, higher margin goods. We are exploring a number of avenues to achieve this reformation of our business model. Bringing clothing and footwear
procurement and merchandising capability in house to WiseBuys is one of the key motivations for the current plan to acquire Patrick Hackett, which would replace our third party vendors with a fully integrated system for marketing high quality clothing and footwear under proprietary labels.
10. Sales were reduced due to INVENTORY reductions as a result of business plan changing. IMO, this was a great move.
11. EPS is positive and growing....what more could we want?
12. "Bringing clothing and footwear procurement and merchandising capability in house to WiseBuys is one of the key motivations for the current plan to acquire Patrick Hackett, which would replace our third party vendors with a fully integrated system for marketing high quality clothing and footwear under proprietary labels".
13.We are moving out of the third-party low margin sales and building our own brand identity, a substantial part of which will be put in place with Hacketts. That is a good thing...
14. This is a holding company that BUYS companies and attempts to make them profitable. I am pleased to see that they have the capital (through investments) to bring to the table to continue to buy.
15.Wisebuys will sell higher profit margin items...this is good.
16. The street loves improving margins. IMO those that don't understand this 8K and appreciate where this likely to go, will provide 'smart money' all the opportunities they need tomorrow to get cheap shares, whatever that will be.
17. Profits are up, higher profit margin items are brought in, and as far the class C and B shares if they sell them there go the voting rights and in all seriousness 350 Million isn't alot when you are trading 40-50 Million a day.
18. Reporting profit is good, changing business plan to be more profitable is great, Hacketts going to be acquired is huge! What more can you ask for? We have real value here, Plus cash in the bank!
19.$$$$$$$$$$$$$$$$$$$$ THE CONVERSION PRICE ON THE CLASS C SHARES $4.00!!!. THAT PUTS THE COMMON CONVERSION VALUED AT ABOUT .90!!! $$$$$$$$$$$$
20. Despite the reduction in sales, we realized a 4% increase in gross profit, from $737,556 in the six months ended July 31, 2006 to $804,533 in the six
months ended July 31, 2007. The improvement reflects the fact that the reduction in our operating level that caused sales to ebb has been focused primarily on lines and vendors that were fundamentally unprofitable. As a result our stores are currently operating with lower volume sales than in prior years, but with substantially higher margins.
21. The 8-K is REQUIRED to demonstrate all risks asociated with puchasing this stock. The 2 items of greatest importance to me thus far in reading...
21.A these guys pay their bills, as demonstrated by the reduction in long term debt
21.B there is no "going concern" statement, at least not that I have seen.
22. The 8K says 450M and the TA says 650M.Need to figure out this mystery
23. WiseBuys can avoid start-up expenses if it is to continue an aggressive growth strategy, and while start-up expenses may be significant they are viewed as an investment in future recurring business and necessary to grow the company.
24. The most recent large capital contribution was the transfer to WiseBuys in January 2006 of Seaway Valley Fund, LLC. Our liquidation of securities held by
the Fund has offset the negative cash flow from our stores since January 2006.
$$$$$$$$$$$$$$$$$$$$$$ Timing all with the Ma-50 to cross the ma-200 Golden Cross - THIS IS GOING WAY UP FROM HERE $$$$$$$$$$$$$$$$$$$$$$$$$$
If you aren't satisfied you can always sell your shares! I am sure somebody else would love to have them!
why dont you call yourself If you dont believe us. 212-732-4300.
I just to IR he said tuesday or wed. For 8-k
could it be an institution?
Isnt it illegal to give specific information in the 8-K before it is released to the public? I dont think it is illegal to say an 8-K is going to be filed.
i turn 22 last thursday, another poor college student, soon to be rich!lol
how do you know if a MM is Dumping?
Where did you get this information From?
KILL SHORTS; Place highlimit sellorder !!!
Your shares can be borrowed by someone to go short with them and put the price down.
If we all place a longer-term-sellorder ( 90 days o.s.) with a higher limit, your shares can´t be borrowed anymore and they are locked for short.
Place a highlimit sellorder, support the PPS and post a copy of this in all boards where SWVC will be discussed.
is there news coming soon?
What make you say that
i notice very low volume on this stock, compared to SWVC, would i be able to buy 100K shares in this.
where do you see the pps of this stock going?
do you think it is dilution?
Every stock i been in they talk about putting in GTC orders at an higher price, so the pps will rise, but i dont think every does it cause it seems like it never works. Why dont we all put GTC in at $.25 and see what happens.
ANYBODY know the BUY/SELL ratio for today?
What pps do you see this stock going to? When do you think news will come out.
What pps do you see this stock going to? When do you think news will come out.
What pps do you see this stock going to? When do you think news will come out.
NEWS!
When is the 8-K gonna come.
Its funny how there are a lot of negative comments now. But if the 8-k comes out today, soon all you will hear is to the MOON!
If everything goes as planned, there will be an 8-K by next week if not sooner, next friday is September 28, 2007, the Monday after that is October 1, 2007. Tom said the deal should be done by the end of the month and that's next week.
SEAWAY VALLEY CAPITAL CORPORATION RELEASES ACQUISITION UPDATE
NEW YORK, NY, September 18, 2007 – Seaway Valley Capital Corporation (OTC Bulletin Board: SWVC) chairman and chief executive officer, Thomas W. Scozzafava, issued the following update to its shareholders today:
Dear Shareholders:
I am pleased to update you on the progress of WiseBuys Stores, Inc. (“WiseBuys”), including its pending acquisition of Patrick Hackett Hardware Company (“Hacketts”).
As previously communicated, Seaway Valley Capital Corporation (“Seaway”) is expecting to merge 100% of WiseBuys Stores, Inc. into Seaway shortly. The recent modifications in the merger structure have necessitated an amendment to WiseBuys’ certificate of designation with the State of Delaware as well as a shareholder vote at WiseBuys, which has taken some additional and unexpected time. It should be noted that 81% of the WiseBuys shareholders previously agreed to the transaction when it was structured as a simple acquisition, and that 70% have already expressed their support of the revised merger structure because of its favorable tax treatment. We anticipate finalization these amendments and an affirmative shareholder vote at WiseBuys this month. Immediately thereafter, we will close the merger and trigger the release of the audited financials in the 8K. WiseBuys and its partners generated store-wide sales and trading revenues of approximately $12.5 million in 2006, and WiseBuys alone generated “Comprehensive Income” in 2006 of just under $1,000,000. In 2006, WiseBuys and its partners together generated sales per square foot of approximately $53 per foot on WiseBuys’ 190,000 square feet of sales floor.
In addition, WiseBuys is pleased to announce that it has received a commitment for sufficient financing to close WiseBuys’ pending acquisition of Hacketts. This financing will not involve the issuance of new debt or equity, but rather the sale of certain of WiseBuys’ non-strategic assets. Hacketts’ reviewed financial statements disclosed 2006 sales and earnings of $13.1 million and $141,000, respectively. These full year results include only about 45 days of operations in its newest store located in Watertown, NY, which opened in November of 2006. Hacketts’ sales per square foot average over $100 per foot on its 144,000 square feet of sales floor space. After completing the acquisition, WiseBuys intends to convert its stores to the “Hacketts” brand so that all 334,000 square feet of selling space is consistently merchandised and operated. Our intention is to close the Hacketts acquisition on or before November 30, 2007 and to invest aggressively in the growth of the Hacketts brand throughout the region.
Finally, many of you have asked whether or not Seaway will exclusively focus on supporting the growth and development of its retail investments during 2007 and 2008 – know that Seaway is currently evaluating additional investments and acquisitions in a diverse array of sectors. Our plan is to complete at least one substantial non-retail investment prior to year end.
I am pleased to be able to update you on these events, and I shall continue to update you with further developments.
About Seaway Valley Capital Corporation
Seaway Valley Capital Corporation was formed in 2002 and makes equity, equity-related, and debt investments in companies that require expansion capital and in companies pursuing acquisition strategies. Seaway also seeks investments in leveraged buyouts and restructurings. Seaway will consider investment opportunities in a number of different industries, including retail, restaurants, media, business services, and manufacturing, and Seaway will also consider select technology investments.
Safe Harbor Statement
This press release contains statements that 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 1995. Those statements include statements regarding the intent, belief or current expectations of the Company, and members of their management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
For more information, please contact:
Seaway Valley Capital Corporation
Email: contact@seawaycapital.com
Web: www.seawaycapital.com
Investor Relations:
Andrew Hellman
CEOcast, Inc.
Phone: 212-732-4300
THIS IS GREAT NEWS! THOSE WHO HAVE BEEN SELLING WILL BE SORRY!
DID SOME ONE LET OUT THE CAT OUT THE BAG EARLY
SEAWAY VALLEY CAPITAL CORPORATION RELEASES ACQUISITION UPDATE
NEW YORK, NY, September 18, 2007 – Seaway Valley Capital Corporation (OTC Bulletin Board: SWVC) chairman and chief executive officer, Thomas W. Scozzafava, issued the following update to its shareholders today:
Dear Shareholders:
I am pleased to update you on the progress of WiseBuys Stores, Inc. (“WiseBuys”), including its pending acquisition of Patrick Hackett Hardware Company (“Hacketts”).
As previously communicated, Seaway Valley Capital Corporation (“Seaway”) is expecting to merge 100% of WiseBuys Stores, Inc. into Seaway shortly. The recent modifications in the merger structure have necessitated an amendment to WiseBuys’ certificate of designation with the State of Delaware as well as a shareholder vote at WiseBuys, which has taken some additional and unexpected time. It should be noted that 81% of the WiseBuys shareholders previously agreed to the transaction when it was structured as a simple acquisition, and that 70% have already expressed their support of the revised merger structure because of its favorable tax treatment. We anticipate finalization these amendments and an affirmative shareholder vote at WiseBuys this month. Immediately thereafter, we will close the merger and trigger the release of the audited financials in the 8K. WiseBuys and its partners generated store-wide sales and trading revenues of approximately $12.5 million in 2006, and WiseBuys alone generated “Comprehensive Income” in 2006 of just under $1,000,000. In 2006, WiseBuys and its partners together generated sales per square foot of approximately $53 per foot on WiseBuys’ 190,000 square feet of sales floor.
In addition, WiseBuys is pleased to announce that it has received a commitment for sufficient financing to close WiseBuys’ pending acquisition of Hacketts. This financing will not involve the issuance of new debt or equity, but rather the sale of certain of WiseBuys’ non-strategic assets. Hacketts’ reviewed financial statements disclosed 2006 sales and earnings of $13.1 million and $141,000, respectively. These full year results include only about 45 days of operations in its newest store located in Watertown, NY, which opened in November of 2006. Hacketts’ sales per square foot average over $100 per foot on its 144,000 square feet of sales floor space. After completing the acquisition, WiseBuys intends to convert its stores to the “Hacketts” brand so that all 334,000 square feet of selling space is consistently merchandised and operated. Our intention is to close the Hacketts acquisition on or before November 30, 2007 and to invest aggressively in the growth of the Hacketts brand throughout the region.
Finally, many of you have asked whether or not Seaway will exclusively focus on supporting the growth and development of its retail investments during 2007 and 2008 – know that Seaway is currently evaluating additional investments and acquisitions in a diverse array of sectors. Our plan is to complete at least one substantial non-retail investment prior to year end.
I am pleased to be able to update you on these events, and I shall continue to update you with further developments.
About Seaway Valley Capital Corporation
Seaway Valley Capital Corporation was formed in 2002 and makes equity, equity-related, and debt investments in companies that require expansion capital and in companies pursuing acquisition strategies. Seaway also seeks investments in leveraged buyouts and restructurings. Seaway will consider investment opportunities in a number of different industries, including retail, restaurants, media, business services, and manufacturing, and Seaway will also consider select technology investments.
Safe Harbor Statement
This press release contains statements that 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 1995. Those statements include statements regarding the intent, belief or current expectations of the Company, and members of their management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
For more information, please contact:
Seaway Valley Capital Corporation
Email: contact@seawaycapital.com
Web: www.seawaycapital.com
Investor Relations:
Andrew Hellman
CEOcast, Inc.
Phone: 212-732-4300
Hey I think the 8-k has been filed I just receive the email alert from secfilings.com
Where can i find this information abouts Wisebuy taxes?
SOMEBODY on here said 8-K on MONDAY, does anybody know about that?
remember you dont lose until you sell. I am not selling until .20 which should be next week!
That 8-k might show up today their symbol was updated on secfiling.com, You use to have to enter in the old symbol GSCR.
WHo are you you Just created your account today, and this was your 1st post. HMMMMMM
http://www.sec.gov/cgi-bin/browse-edgar?action=getcurrent is this where the 8-K will show up right?