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Yes, once an audit is completed, and papers are filed with the SEC, then the timing for an uplist is out of Spooz's control. All the auditors' work at Spooz's HQ is done now from what I understand.
From the Caxforex site:
"CAX offers easy access to FIX Connections for algorithmic, black box and automated traders. By connecting to the CAX API, you can reduce the technology constraints of having to connect into multiple banks and ECNs into an internally developed black-box system. CAX has a programming team that can provide technology assistance to your institution in getting connected to the CAX API. For API specs (C++), please send an email request to sales@vcap.com."
I believe that Spooz is using FIX connection to the TT gateway - and John Unwin is an expert in FIX. So yes, we shouldn't jump to conclusions - but this is interesting.
Songbird
Ouch! That is no fun.
Was he trying to buy at the ask?
MC, I am looking forward to seeing the marketing campaign kicking in when the time for publicity comes around. That will be a key element in gaining the market penetration Spooz is looking for.
Are you saying that the audit and the uplist are important steps to accomplish before the public launch? It would seem that an audited, fully reporting OTCBB company would have more crediblity in the marketplace than a Pink sheet company.
Well the ask is rising, and there seems to be some buying pressure. Not sure if that would be a sign of dilution.
Hi, db. The current A/S is 2 billion, and at last count, if my memory serves me correctly, the O/S is around 1,593,000,000.
Songbird
db_de_luxe may be getting information from the ibox, which is out of date.
OT: MC, I just sent you an email.
Yes, it would be great to hear about SpoozToolz subscriptions. We may have to wait until Q1 financials are released (IMO, probably sometime in May, based on past track records) to know exactly what is happening at the moment in regards to revenues.
According to the company, there are revenues from subscriptions. From the Feb 7, PR:
Spooz, Inc. (OTC:SPZI), announced the beginning of its transition from a development stage to a growth stage company. This transition was marked by generation of revenues in January 2008 relative to subscriptions for its software products.
With the launch of SpoozChartz and the beginning of SpoozToolz Pro deployment, the company projects initial customer growth in the financial centers of Chicago and New York where it will engage in its sales initiatives to institutional brokers and traders, proprietary trading organizations, hedge funds and money center banks.
“We are excited about the prospects for rapid growth,” stated Paul Strickland the Spooz CEO. “Our strategy is to fine-tune the SpoozToolz Pro product and to launch a retail version of SpoozToolz during the later stages of the second quarter.”
Thanks very much for this, Allie. It appears from the latest PR that 141 Capital is taking steps that would qualify them for an uplist, too. The PR did not say that they were planning to uplist, but they were going to have 2 years of audited financials, plus releasing quarterly financials that would be reviewed by the auditors.
IW, you are right - this post says nothing about what Spooz Europe operations are at the moment.
IMO, the significance of the news is that Spooz will have a UK and European presence. London is the financial capital of Europe, and so it is a logical place from which a branch of Spooz can operate.
Paul has said that Spooz has a plan, and they are sticking to it. This move looks to be a step in their plan to be a global company. The company has lofty goals, and are taking deliberate steps to achieve them.
I think this has to be a long term investment, as there is much that needs to be done to building a company from the ground up. And of course there is risk in investing in a start-up company like Spooz. Everyone has to make their own decisions in investing.
Hi, Draguin. If you click on a username, you will see an option: "ignore this poster". Click on that, and you won't see their comments. As a free user, I can ignore up to five users, I think.
Best, Songbird
141 Capital, Inc. Retains CPAs
Tuesday March 11, 11:19 am ET
CHICAGO, March 11, 2008 (PRIME NEWSWIRE) -- 141 Capital, Inc. (Other OTC:XXIS.PK - News) announced today that it has retained the services of Kramer Weisman and Associates LLP to serve as 141 Capital's certified public accountants. Located in Davie, Florida, Kramer Weisman is qualified to practice before the Securities and Exchange Commission and has been approved by the PCAOB (Public Company Accounting Oversight Board). Errol Stone, Chief Executive Officer of 141 Capital, stated: ``We investigated a number of accounting firms before picking Kramer Weisman. Utilizing Kramer Weisman's services, we will provide our shareholders with audited financial statements for the years ended December 31, 2006 and 2007. These statements will be a part of the Pink Sheet Disclosure Statement we intend to file with the Pink Sheets, Inc. by March 31, 2008. In addition, on a quarterly basis, 141 Capital intends to file quarterly statements substantially meeting the requirements of Form 10Q that will be reviewed by Kramer Weisman.''
http://biz.yahoo.com/pz/080311/137997.html
Interesting point, MC. I did not see any new filings for 141 on the pinksheets site. Maybe there will be some soon.
I see what you are saying, MC. I was just thinking about the fact that Spooz has put 2 annual reports on pinksheets.com, plus 3 quarterly reports from last year. They are pretty current, and yet still have the designation, "limited information" from Pinksheets. Not sure what more they would have to do to get upgraded.
Anyway, hopefully we won't have to worry about Pinksheets for too much longer. :)
MC, I'm a bit surprised that 141 has the current info designation, and Spooz does not. We have been getting regular financial reports from Spooz, and not from 141 as yet.
Allie, I think it is very hard to predict which of the two stocks is a better buy right now.
Obviously, if 141 does very well, it should be a great stock to own. If they can come close to replicating the trial SWARM results, there should be a great deal of interest in the company.
However, if 141 does well, Spooz should also benefit, not only because of the equity stake and the 7% cut of profits, but because SpoozToolz ( upon which SWARM is built) will be shown to be a superior piece of software.
If 141 reports a remarkable trading track record, I would expect there would be a lot of interest in SpoozToolz and other Spooz software products from trading entities trying to replicate or even beat 141's record.
More volume in XXIS than SPZI so far today. Is this a first?
Thanks, BB. A very interesting post. Can you estimate about how much advantage one of these 4+ gig connections would have over a normal high speed connection?
It is remarkable to me that a trading advantage can be gained by tiny gains in connection speed.
I did too, BB :) Thanks!
I was wondering how a company goes about physically installing such a pipe. Are there conduits running through these buildings running to each office that you thread your cables through?
Songbird
It looks like they are getting all the tools they will need to operate in place. I agree, a positive development.
141 News:
141 Capital, Inc. Moves Into Headquarters
Thursday March 6, 2:15 pm ET
CHICAGO--(BUSINESS WIRE)--141 Capital, Inc. (OTC:XXIS - News), is pleased to announce that it signed a five year lease and now occupies its headquarters at 29 S. LaSalle St., Suite 333, strategically located in the heart of Chicago’s “Loop”. The Company, a registered Commodities Trading Advisor, anticipates many successful years in its new premises.
Errol Stone, Chief Executive Officer of 141, stated: “As a start-up” company, I am very pleased that we were able to successfully negotiate a favorable lease in a prime Chicago location. As 141 will be utilizing SpoozToolz extensively, its proximity to Spooz, Inc.-- which is on the 12th floor of the same building-- is very advantageous.”
With the Company now on site in its own offices, the Company is poised to begin the next phase of its start-up operations. As part of the improvements to its space, a high-speed 4.5-gigabit internet line had been installed and the Company’s internal network should be in place by Friday. The Company’s server will be co-located to a data center located in the Chicago Board of Trade.
“By being co-located at the Chicago Board of Trade, technologically, the Company will have the bandwidth and speed necessary to meet or exceed the transactional speed required to compete in today’s competitive trading environment,” stated Mr. Stone.
About 141 Capital, Inc.
141 Capital, Inc., a member of the National Futures Association (“NFA”) and a registered Commodities Trading Advisor, is a publicly traded company based in Chicago, 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.
Contact:
AudioStocks.com
Ronald Garner
Investor Hotline: 760-692-1167
It makes sense to me. If you are an investor, why not ask questions of the company if you have them?
Songbird
Thanks so much, Allie, for fact-checking today. It is a benefit to all of us.
Songbird.
Good evening MC, - Care to share what gives you confidence enough to think of adding at these low levels?
TIA,
Songbird
Thanks, Gbathat. That's the same number they gave me on Feb 13.
If I recall correctly, the O/S last summer was around 1.4 billion - close to the A/S (Which was recently increased)
It looks like the recent rise in accum/dist line takes off around the same time as last summer's pps rise. As I recall, that rise took place after a spell of dilution in the winter and spring. So I don't see a clear correlation between the two.
Interesting, MC. From Stockcharts:
"A bullish signal is given when the Accumulation/Distribution Line forms a positive divergence. Be wary of weak positive divergences that fail to make higher reaction highs or those that are relatively young. The main issue is to identify the general trend of the Accumulation/Distribution Line. A two-week positive divergence may be a bit suspect. However, a multi-month positive divergence deserves serious attention...
"The Accumulation/Distribution Line can be used to gauge the general flow of money. An uptrend indicates that buying pressure is prevailing, and a downtrend indicates that selling pressure is prevailing."
http://stockcharts.com/school/doku.php?id=chart_school:technical_indicators:accumulation_distribution_line
From the 141 web site:
"141 Capital will be selling its services to individuals and to brokerages. Initially, 141 will trade for its own account and only trade derivatives. 141 will register with the National Futures Association as a Commodities Trading Advisor. Once it has established a track record, it will offer its trading services to these entities using a Disclosure Document approved by the National Futures Association"
Do we think that 141 is already trading for its own account? If so, perhaps we will see a track record sometime soon.
I think there are many who are into penny stocks for quick short term gains. Perhaps they don't think they can find that here at the moment.
Spooz is just beginning to transition from development to growth stage. I don't think one can realistically expect dramatic spikes in share price this early in the game.
I don't think anyone could think that moving off the Pinksheets to the OTCBB is a negative development. Sure, there are other things involved in making a successful company, but an uplist is a positive step for Spooz, IMO.
If it is combined with other positive developments, then things seem to be moving in the right direction.
Thanks, Milo3 for the very in depth response! Very interesting.
Wow. Thanks, Allie. I thought it might take months.
Allie, do you know what the approval process is for the OTCBB once the forms are filed with the SEC? About how long do you think it will take to get listed?
Thanks!
Songbird
Thanks, johnsbus.
Thanks for your thoughts, Milo. Do you know how common it is for mutual funds to invest in OTCBB companies?
Songbird
MC, on page 31 it reports on an agreement between 141 Futures and XXIS Corp doing business as 141 Capital.
I don't understand all the legalese that follows, but here's a stab at interpreting it:
a) 141 Futures transferred all its stock to 141 Capital (XXIS).
b) Spooz paid $120,000 to 141 Futures.
c) 141 Capital agreed to issue 120,000,000 shares to Spooz
So it appears that 141 Futures, which was a private enterprise run by Spooz principals, does not exist any more.
Please note - this is all IMO! This legal jargon is a foreign languagel LOL
MC, I noticed that agreement on p. 68, too. Do you have any thoughts?