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10Q is due out today. Many questions will be answered. Hence the volume picking up on the ask. Could be a good play.
Read between the lines. Do your research. Ask yourself, if the deal is so good, why hasn't the market bought into it? Its had 15 months to do so. All the info you need is out there. You need to set your exit strategy accordingly, to the reality of the situation and to the way this trades and who trades it. But if you want to wait for cents, then by all means wait for cents.
Research NVAE's former PR's dating back to May of 2010 regarding Palm Health and this acquisition. Then decide what future news releases on this subject will do. I'm not here to bash. There's a difference between bashing and legitimate opinion. I hope you all make some cash. Knowing whats going on, instead of relying on blind hope or faith fueled by greed, will help you with entry and exit strategies.
I will gladly eat my words once NVAE provides any information that proves me wrong. Until that time happens, I'll continue use the info they have given out along with other sources.
I realize that many people don't want me posting these facts so newbies won't be frightened off. However, posting on iHub will not generate any volume needed to have any noticeable effect on the PPS. People, mainly, only pay attention to posts that give them reassurance. My posts are for the few that trade without emotion. All and all, my posts will be buried and forgotten by opening bell tomorrow. Take my DD however you perceive it to be. Use it however you might.
Not until 2012. Verges isn't stupid enough to do 2 in one year.
That's a cut and paste from NVAE's original PR. Its not an independent article. According to the Kenyan Ministry of Industrialization, there is only one major condom manufacturing plant getting close to opening and that's the factory owned by East Africa Latex Manufactures. The supposed factory NVAE is involved with is Palm Health International and NVAE already made this acquisition last October 28th, an acquisition they failed to report in any 10Q or 8K.
I'd say contact Palm Health International and request confirmation.
Indeed, if the O/S is maxed and if there is demand the PPS will go up. If the O/S is maxed and they need to raise additional capital, the A/S will increase.
In regards to other stock, that's exactly what I said in regards to possibilities you mentioned. We're on the same page.
Good luck.
Volume is also very low with few sellers. What shares are the company selling right now? They already sold them all in one swoop last Spring. The 10Q that comes out today or tomorrow and the info it gives will decide if this goes up or goes down. No chance of R/S until 2012.
Value, to answer your question here, NWMT and Savanna have similar business strategies, so the same principles still apply in regards to raising A/S.
Here, the O/S is basically maxed out. They issued over 1.5 billion shares to somebody in the 2nd quarter. The issued no 8K on the event nor did they mention it in the 'Subsequent Events' section of the 1st Quarter 10Q. When the 2nd Quarter 10Q report comes out, today or tomorrow, we should know where those shares went. Pay off debt or Acquisition?
I do not believe they will initiate a R/S any time soon. They just did one at the end of 2010. They do not have a history of doing more then one in a year. However, the possibility of increasing the A/S is VERY likely, depending on what they plan on doing the rest of 2011 in regards to acquiring other securities, which is the heart and soul of their business.
Perhaps we'll know for sure after the supposed 'Town Hall Meeting' in September.
Oh Crap. I'm sorry Value. I thought we were on the Savanna East Africa Board.
In my opinion, Its worth buying at .0001, maybe .0002. Selling at .0003 - .0004. .0005 if you're lucky.
Its my opinion, based on my DD, that the company is shady. Odds of failure are high, so get in as low as possible so you can cut your risk.
This is a stock that gets flipped. It's that simple. The traders that control the stock will be happy with 100%-500% gain. As will the convertible debt holders that converted. But, NVAE is a PR machine. They specialize in posting hype. If you're in low enough, your investment risk is lowered and your chances of selling into news for a profit is higher.
If you wanted to buy at .0002, I'd monitor the L2's and wait for the number of shares on the ASK to dissipate to around 10 million. Have your buy order in for the .0001's and modify it to .0002 when the ASK is about to go to .0003. Even at .0002 is still a very low price, .0001 is 100% cheaper. Apply the same strategy when selling. Watch the BID. If volume and trading behavior show that it can pass .0004 then hold cautiously for higher.
As of May 31st, according to 10Q
2,000,000,000 A/S
1,892,516,800 O/S
Verges may not be the CEO, but he still controls all the voting power in the company. He also gets 51% of the net profit. See below the terms of his deal with NVAE. See bold print especially.
He's most likely acting as a 'consultant' as well.
Consulting expense was $132,500 for the three months ended March 31, 2011, compared to $0 for the same period in 2010.
Additionally, Verges' main company, NewMarket Technology is owed nearly 500K from NVAE:
The Company’s subsidiary incurred expenses paid for by NewMarket Technology, Inc., a company whose Founder and Chairman of the Board of Directors is Phillip Verges, the Company’s former Chief Executive Officer. As of March 31, 2011, the balance owed to NewMarket Technology, Inc. in the accompanying consolidated balance sheet is $495,849, and has been classified as amounts due to related parties.
From the latest 10Q: Page 16 Note 11
www.otcmarkets.com/edgar/GetFilingHtml?FilingID=7937378
On December 10, 2010, the Company entered into a share exchange agreement with Savanna East Africa Limited (“SEA Kenya”) and Beachhead, LLC (the “Shareholder”). The managing director of the Shareholder is Philip Verges, who was at time the Company’s chief executive officer. Pursuant to the exchange agreement, the Company issued 100,000 shares of Series A Preferred Stock to the Shareholder in exchange for 70,000 ordinary shares of SEA Kenya held by the Shareholder, which 70,000 ordinary shares represents 70% of the outstanding capital stock of SEA Kenya. In connection with the exchange agreement, the Company filed a certificate of designation of Series A Preferred Stock. Pursuant to the certificate of designation:
100,000 shares were designated as Series A Preferred Stock.
Holders of the Series A Preferred Stock will be entitled to receive $1.00 per share of Series A Preferred Stock, prior to any distribution to holders of common stock, in the event of any liquidation, dissolution or winding up of the Company.
Holders of Series A Preferred Stock will be entitled to receive dividends in the amount of 51% of net operating income, payable quarterly.
Holders of Series A Preferred Stock will own 51% of the voting power of the shareholders of the Company.
The Company may not redeem shares of Series A Preferred Stock without the written consent of the holders thereof.
Interesting. Thanks for that analysis.
Learn as much as possible from it. Make the knowledge gained worth the tuition. Could save you $1000's down the road.
Gotcha....I think people are waiting for it to drop to .0001. Odds suggest that it hits that level before it goes to .0006. Why spend $40 if you could get the same amount of shares for 10$.
For me personally, being that George Moore has proven to the public, rather then just having it assumed, that he is inept, ineffective and incompetent as a CEO, it'll take away the strength of any additional PR's that come out. Perception is everything and his credibility is toast.
I'm going to take my losses this week. It was good gamble back in April with what could of occurred. I have no regrets. I'll consider going a second round if it hits .0001.
It's a .0000 stock. All the risks you mention are already factored in. Hence the price. These level stocks behave illogically, so trying to apply logical thought and analysis is pointless. Listing the obvious risks of a .0000 level company and chastising it for being a .0000 company is just as illogical as the mere existence of the company itself. Posting those speculations is equivalent to going to the desert and telling people there, that it's going to be hot in the summer.
The only reason for buying this stock or any other subby, is for the basic thrill of gambling. Not for the fundamentals or competency of the management.
Hopefully, 'Irene' didn't destroy their Po Box in North Carolina.
Regardless, they are a long ways out from getting uplisted. Lawyers that have been retained, to assist them with the uplisting, have yet to receive any financials. Add to that the time it takes, once they do get them, we're looking at 4th quarter 2011 if we're lucky.
If Moore was using the PRs about posting financials as 'bait' to entice investors into buying, or if he was being legit and just couldn't get it together, afterall, companies aren't .0000's for competent management, the ship for raising PPS for that reason has sailed. Regardless the reason, its now a 'Crying Wolf' scenario.
He knows that, hence why the PR's have stopped.
His only chance to gain investor confidence, in this quarter, is to show progress with Chesterfield. Which has been confirmed by the city utilities director as a legitimate project. He also needs to clear up the structure of the business. Right now it's too convoluted and too much false company information is listed. The website needs to be cleaned up and roles defined more clearly.
Who knows what September will bring.
I've seen worse do better and better do worse. Fingers crossed, they'll stay on course.
Interesting info out of East Africa as it may relate to your post. It deals with the current situation in Kenya and how it fits in with NVAE.'s strategy. I got this info from a business exec in Kenya. Take it for what it's worth.
1. Systems Integration & Technology – the company talks of “SAE is leveraging its partnerships to develop local wireless and mobile technology opportunities and to offer high quality, affordable technology solutions from China into the growing markets of East Africa”. I have no idea what they mean given the cut throat competition is this area that is dominated by Safaricom, a Vodafone subsidiary and also listed on the Nairobi Stock Exchange and Airtel of India. Orange (French Telcom) is literally limping and Yu (owned by Essar – Indian company) is barely crawling to attract subscribers even with offers of free calls Yu to Yu. This to me leaves no room for another player unless the player was on 4G frequency. The regulator, Communication Commission of Kenya (CCK) as latest as this week said that 4G licenses will not be issued to an individual firm but a consortium on a public private partnership. This move takes away any competitive position of an entrant and entrenches the positions currently occupied by current players.
2. Wireless Utility Metering – in Kenya all the major utility providers; water, sewerage services, power are State owned enterprises which are not very innovative and inefficient. Secondly, for them to invest in a wireless utility metering they would have to issue a public tender which Savanah and their partners would have to compete. Kenya has homegrown IT companies that are equally enterprising. Kenya Power and Lighting the utility company that distributes electricity has already commenced pre paid electricity meters and partnered with Safaricom to enable customers to buy re charge units via their mobile phones. What are saying is there is no innovation they are bringing into the market to give them a competitive edge.
3. Affordable Housing – Real estate industry in Kenya is quite robust with local companies who are big players, in fact they dominate the market. The National Housing agency – National Housing Company is putting up a plant in Kenya to locally manufacture prefabricated building materials to lower the cost of building in Kenya. Slum upgrade programs which seeks to build really affordable housing for slum dwellers is riddled with much complexities and so many players including UN Habitat and donors. Private sector players are also beseeching the government to enter into a public private partnership for slum dwellers and affordable housing for the low income earners.
4. Health Products – I guess that why we are having this conversation.
5. Oil Reclamation – the Government of Kenya issue oil prospecting/exploration licenses. To the best of my knowledge, the Government has issued some licenses to the national owned oil company – National Oil Company of Kenya (NOCK) and other investors including Chinese companies. Uganda is at very advanced stages of oil exploration with Tullow Oil. Tanzania has known Natural Gas reserves. What I am saying is oil reserves in East Africa are known and those prospecting/exploring are known and are under way. Oil is not kind of asset that sits idle waiting for investors to get their act together. I would be interested to know the areas in East Africa that oil can be reclaimed.
Nice DD package. Some of the links don't work but things to research are there.
However, when looking into this, all you have to do is ask one question. If its so good, why is the PPS so low? The current situation is illogical which means illogical decisions are being made.
Pink Sheet Company with crazy revenue potential + Illogical .0001 PPS / Involvement with Gelmon Brothers = Too Good To Be True Situation
Regardless, as long as you can get in at .0001, there is decent potential for making money. Its definitely one of the better Penny gambles out there right now given the PRs that could be coming in September. Doubt it will see .0004, but stranger things have happened.
GTLA. Thanks again for posting your DD.
With whom did you talk to that is doing the financials? Are they having an outside firm do them or Deanna Britt?
How do you normally get in touch with George Moore?
The email addresses they give are useless and nobody ever answers the phone.
Can you confirm that Clean Power Solutions is still subsidiary of Solarbrook?
Did you visit the Chesterfield site?
Thanks.
I realize that the option is available to them to do that. In fact, it would save them money in doing that.
Except, historically speaking, they don't. There have been 5 8K's and 3 10Q's filed since they injected $1,000,000 of equity into the Palm Health International condom manufacturing plant last October 28th. 10 months ago. Unless I missed some fine print somewhere, none of the following 10Q's contain any information or acknowledgment that the transaction ever occurred.
www.otcmarkets.com/edgar/GetFilingHtml?FilingID=7553642
www.otcmarkets.com/edgar/GetFilingHtml?FilingID=7742662
www.otcmarkets.com/edgar/GetFilingHtml?FilingID=7937378
October 28th, 2010. Palm Health Care International, a condom manufacturer in the process of setting up a plant in Nairobi, has received an Sh80 million ($1 million) equity injection from America-based venture capital firm Savanna East Africa.
Sanjeev Gadhia, an executive director of the company, said Savanna East Africa will also bring in technical expertise to the start-up company as part of the transaction. "The money will be used in getting the plant fully operational and the purchase of raw-materials and working capital," said Mr Gadhia. "The plant is already in Nairobi and will commence production in the first quarter of 2011."
How about something mentioned in the last 10Q? For this acquisition report from last March.
March 10th, 2011 Savanna East Africa, Inc. today announces the acquisition of Palm healthcare Ltd, the second of three planned acquisitions pending. Savanna is a fully-reporting Company with audited financial statements. Earlier this year, Savanna launched a business plan expansion strategy directed at acquiring and developing a portfolio of high growth potential operations in Africa. The acquisition today marks the second acquisition after months of preparation. Management anticipates rapidly executing an additional acquisition. The three acquisitions are expected to substantially contribute to Savanna's $10 million in revenue anticipated in 2011.
The Nairobi-based company Palm health care Ltd is a condom manufacturer poised for rapid growth in the condom manufacturing business. Palm healthcare will expand Savanna's operations in Kenya. Savanna East Africa has acquired a majority interest in Palm healthcare Ltd.
So, by seeing the pattern that has developed, I am lead to think that it will continue. Is it possible it won't? Is it possible they will give at least one detail about the acquisition to the investors? Sure. But personally, I am skeptical. By looking at the volume, I would say that the Street is skeptical as well.
NVAE can show me as being wrong about everything with one report. So, with that said, here's to the next 10Q or 8K. If I get additional confirmations from any of the sources in Kenya that I have requested it from, I will post.
Regardless of everything, this is a subby. It'll move 1000% on a gust of wind. These stocks are fun to play. Just like playing Black Jack in Vegas. It's one big gamble.
Good luck to you in this.
So, the extent of your DD is that you've concluded that NVAE is indeed, an OTCQB stock. Lets confirm it! Here's the link.
http://www.otcmarkets.com/stock/NVAE/quote
Congratulations on making your first DD find!
Maybe your next DD report can show the board the business they are doing. What's their product? What generates their revenue? Being that information is what you're trying to sell other investors, show us.
The so-called negative posts here are based upon actual events, published articles and numbers, with intelligent thought provoking theory that nobody has been able to dismiss. Give us evidence of why potential investors along with current investors should buy into what you say? What have you provided the board? Back up your position.
Perhaps the 6th PR of this acquisition will come out next week and you will be able to make your losses back.
I would prefer that the SEC mandated 8K detailing the acquisition comes out instead. They have 4 days upon date of the transaction to release one. Being that they chose not to do so on the other 4 PRs doesn't leave much hope this time around.
Good luck. I suggest in at .0001-.0002. Out by .0003-.0004
Right now people are upset because it's not going through the roof
based on a PR that raises too many questions.
They don't know the difference between 'bashing' and shared DD.
Just because something is an inconvenient truth, doesn't make it bashing.
GLTA
He should of paid attention to my DD.
But, acquisition PR #6 should be out in a few months and these people can get out even.
There are no guarantees. It's all a gamble. Helix has 100 billion shares to issue to St. George. It all depends on whether or not St. George decides to hold their issued shares or not. They've done it a few times.
When you're face down in the dirt, like myself in others involved in HLXW, all you have is a roll of the dice, whether its a week, a month or 6 months.
See my past posts
I know your pain. Buy at .0001 and flip it when they pump it up a tick or two. A few times of doing that you should be able to make some losses back.
St.George is no joke. Fife, already convicted of stock fraud once, has learned how to do everything by the book. As bad as all of this is, its all been done to us legally. Crazy, eh?
This company has basically become 'school' for me. One with a high tuition rate. All you can do is learn from it. Learn how these shells work. How this type of financing works. Study the CEO's. Who they are associated with and what they have done in the past. Also, whats legal and whats not. The more you know what they can get away with, the DD you do will evolve and you'll be a scam spotting machine!
I have learned more then I ever imagined about these things. Can spot these 'wallet drainers' much easier now. Though, I still fall for one every now and then.
5th time NVAE has done this. Will there be a 6th?
Huh???
What are you talking about? I have been in this since March of 2010.
In at .16. Lost my shirt. Averaged down when they got their patent approved in last January when it .0007 and sold the majority at .0014. I have 120,000 remaining.
I already mentioned that, after discussing it with another poster. I brought up the info from the unaudited 10Q that the company put out. That yes. They could of acquired it, if it was acquired for under 4 million dollars, which is a kind estimate of the worth of the common stock available as of last reported, April 24th. Which, for a a 51% stake in a company with potential annual revenues of 336 Million, is extremely low and therefore not very likely. But there is a chance. It would be a complete rip off, worthy of the Manhattan Island deal hundreds of years ago, but hey, stranger things have happened. I just presented the odds.
Plus, where is the 8K that shows the transaction? As a 'fully reporting' company, that is required by the SEC. Technically, they have until next Tuesday to produce it.
Additionally, who's the company or partners that have the other 49%? According to the Kenyan Ministry of Industrialization there is only one plant in production in Nairobi, Kenya and that's the one owned by East Africa Latex Manufacturers Limited. And they confirmed to me this morning that they are in no way associated with NVAE. I was even told by EALM's partner, Richter Hi- Tech, that EALM's factory was unlikey to succeed.
That's when I thought I was wrong because after that confirmation, I discovered the past PR that said the 49% company is Palm Health International. I discovered that through a PR from last october saying NVAE made a $1,000,000 equity injection into the company and it was ready for business by the 1st Quarter 2011. Of course in the 5 8K's and the 3 10Q's from NVAE since then, there is no mention of this transaction. Nor is there any proof this company exists anymore. Discontinued email, no website. I have confirmation requests out.
Is it possible that even with all of this, that yes, NVAE did in fact make this acquisition? Which PR am i to believe? Which of the 5? The one from May 18, 2010? The one from October 28th, 2010? The one from March of 2011? the one from June of 2011? or the one from August 24th, 2011? This acquisition that has 5 different PR's stating they acquired the company!
Even still, there remains that chance that yes, it could of happened. never said with a flatout NO! that id didn't. just that it appears shady. I've been preaching for confirmation the whole time. What do you think the odds are? You willing to make the buy at .0005? Hold for .01 with the info given, printed and presented?
The simple fact is, this is a .0000 stock. Anything can happen. 2 + 2 rarely = 4. All investments in these things are complete gambles. A throw of the dice. I still say its safe for an entry at .0002 and an exit at .0004 or 5. As long as you don't bet more then you can lose, you might as well have some fun. Just don't be surprised if you lose.
Cheers and good luck to you.
~H8
FYI. Dead Patent Applications Re-born after Final Rejections.
Solar Engines and Monodose Nasal Sprayer
12/321,402 1/2009: Reciprocating solar engine with attached solar windows
06-28-2011 Final Rejection
07-22-2011 Notice of Appeal Filed
08-20-2011 Appeal Brief Review Complete
08-23-2011 Date Forwarded to Examiner
12/319,248 1/2009: Reciprocating solar engine. 06-23-2011 Final Rejection
07-22-2011 Notice of Appeal Filed
08-20-2011 Appeal Brief Review Complete
08-23-2011 Date Forwarded to Examiner
11/713,335 3/2007: Monodose nasal sprayer. 06-07-2011 Final Rejection
08-15-2011 Amendment after Final Rejection
08-22-2011 Date Forwarded to Examiner
That is correct. Numbers don't lie. Unless they're unaudited, that is. See last 10Q.
But yeah, $3,400'ish vs $1,020'ish traded hands today. That sure is some BIG money for this. Not at all! Not for an event supposedly this big!
148,711,280 shares traded yesterday down to 20,667,711 today.
How long do you think the flippers that are in at .0001 & 2 will hold onto this now that the fuel has been spent?
This is no different then those scams from Nigeria. Those letters you get emailed to you saying you have millions of dollars waiting for you. Even them there are people that buy into it. Lol. To quote a line from 'Blood Diamond', "TIA". This is Africa.
But, as long as you're satisfied, do as you wish. Good luck and make some dough.
Were you satisfied with that PR? How about all the other condom plant acquisition PR's they issued that just repeated themselves for over a year as the PPS gradually went down .0001.
Lesson is, don't deny an inconvenient truth in order to accept a reasonable lie. Stating facts is not 'bashing'. Denying them is 'pumping'. The risk involved with this, due to so many answered questions and iffy PR's make this a quick flip play.
GTLA
FYI, Phillip Verges initiated this acquisition campaign up thru the October 28th PR below. Still think he's not involved with the company?
May 18th, 2010 Nova Energy Announces Savanna East Africa LTD LOI and Escrow Agreement on Purchase of Palm Healthcare International
Nova Energy Announces Savanna East Africa LTD LOI and Escrow Agreement on Purchase of Palm Healthcare International LTD, nvae.pk
Quote: Earlier this year, Nova announced a business plan expansion into diversified industries in East Africa. Savanna East Africa LTD was formed to facilitate acquisition and business development in East Africa.
www.reuters.com/article/2010/05/18/idUS142971+18-May-2010+MW20100518
October 28th, 2010. Palm Health Care International, a condom manufacturer in the process of setting up a plant in Nairobi, has received an Sh80 million ($1 million) equity injection from America-based venture capital firm Savanna East Africa.
Sanjeev Gadhia, an executive director of the company, said Savanna East Africa will also bring in technical expertise to the start-up company as part of the transaction. "The money will be used in getting the plant fully operational and the purchase of raw-materials and working capital," said Mr Gadhia. "The plant is already in Nairobi and will commence production in the first quarter of 2011."
allafrica.com/stories/201010280790.html
March 10th, 2011 Savanna East Africa, Inc. today announces the acquisition of Palm healthcare Ltd, the second of three planned acquisitions pending. Savanna is a fully-reporting Company with audited financial statements. Earlier this year, Savanna launched a business plan expansion strategy directed at acquiring and developing a portfolio of high growth potential operations in Africa. The acquisition today marks the second acquisition after months of preparation. Management anticipates rapidly executing an additional acquisition. The three acquisitions are expected to substantially contribute to Savanna's $10 million in revenue anticipated in 2011.
The Nairobi-based company Palm health care Ltd is a condom manufacturer poised for rapid growth in the condom manufacturing business. Palm healthcare will expand Savanna's operations in Kenya. Savanna East Africa has acquired a majority interest in Palm healthcare Ltd.
www.pr.com/press-release/304223
Jun 30, 2011 Savanna East Africa, Inc. plans to finalize the acquisition of a healthcare sector manufacturing company in July and announce two new acquisition letters of intent.
finance.yahoo.com/news/NVAE-Savanna-East-Africa-iw-2676201473.html?x=0&.v=1
August 23, 2011 Savanna East Africa, Inc. today announced the acquisition of fifty-one (51) percent of a condom manufacturing company headquartered in Nairobi, Kenya. The plant is currently in pre-production, though construction of the facility and manufacturing equipment is almost complete. The manufacturing facility's original founders ran short on the funds necessary to complete construction. Savanna East Africa stepped in and acquired the majority interest in the condom manufacturing company in exchange for a commitment to fund the balance of the financing required to bring the plant on-line.
www.otcmarkets.com/stock/NVAE/news
Final Deduction:
From information I have from my DD, was that there was one condom plant being made in Kenya. It now appears that there are 2 companies building plants. East Africa Latex Manufacturers Limited and Palm Health International.
I am no longer as certain of my deductions from yesterday. I can not say with any certainty that this acquisition is a scam or legit.
This whole thing has gotten too damn convoluted for my liking.I'm not going to touch it. For those that have and are, I admire your sacks. Good luck to all. Below are the articles.
Palm Health International:
http://allafrica.com/stories/201010280790.html
East Africa Latex Manufacturer:
http://allafrica.com/stories/201010280790.html
The apparent partner of NVAE is Palm Health. They currently have no website and no active email for confirmation.
They made an injection of 1 million dollars into the company last October 28th, 2010, According to the article, "The money will be used in getting the plant fully operational and the purchase of raw-materials and working capital," said Mr Gadhia. "The plant is already in Nairobi and will commence production in the first quarter of 2011."
Obviously things haven't gone as planned.
Company Working with Savanna East Africa? PALM HEALTH CARE INTERNATIONAL.
However this supposed acquisition was started back in October 28th, 2010 according to this article I just found.
Obviously there have been delays in the supposed factory.
I am going to now seek confirmation that this company is still in mic.
Palm Health Care International, a condom manufacturer in the process of setting up a plant in Nairobi, has received an Sh80 million ($1 million) equity injection from America-based venture capital firm Savanna East Africa.
The deal, which promises to create 100 new jobs, will see Kenya start producing male condoms from the first quarter of next year, making the country one of few African nations with a condom making plant according to promoters of the deal. Kenya imports condoms mainly from Asia, with the government being the main agency shipping in 180 million pieces annually.
Sanjeev Gadhia, an executive director of the company, said Savanna East Africa will also bring in technical expertise to the start-up company as part of the transaction. "The money will be used in getting the plant fully operational and the purchase of raw-materials and working capital," said Mr Gadhia. "The plant is already in Nairobi and will commence production in the first quarter of 2011."
Confirmation request responses:
Based on this article from the Kenyan Ministry of Finance, I have contacted the all the companies mentioned to be involved with the project, requesting confirmation that NVAE has indeed acquired 51% of the one and only condom manufacturing plant in Nairobi, Kenya.
http://www.industrialization.go.ke/index.php?option=com_content&view=article&id=219:kenya-set-to-have-the-first-condom-manufacturing-plant&catid=52:press-releases&Itemid=200
According to this April 2011 article EALM is the company in charge for this condom manufacturing plant.
The following is a response from the co-founder and a director in East Africa Latex Manufacturers Limited (EALM).
Hello Aaron,
I am Wambere, co-founder and a director in East Africa Latex Manufacturers Limited (EALM). East Africa Latex Manufacturers is a Kenyan company that will manufacture latex products including male condoms and gloves. We are at advanced stages to commence manufacturing of condoms. Richter Rubber Technology of Malaysia are our technical partners and will supply us with technological knowhow. The Government of Kenya has overwhelmingly supported our initiative.
It has come to our attention that there are press reports to the effect that Savannah East Africa has made a 51% acquisition in a condom factory in Kenya. We can convincingly say that the said company is not East Africa Latex Manufacturers Limited. EALM is not at all related to Savannah and has never had any dealings with Savannah East Africa and does not intend to.
I hope this clarification is of assistance. Please be free to contact me if need be.
Sincerely,
Wambere Kibicho, East Africa Latex Manufacturers Ltd
ACK Garden Hse, 1st Ngong Avenue
Off Bishops Rd
P.O. Box 73137-00200
Nairobi, Kenya
Mobile +254 721742995, Skype: wkibicho
Tel + 254 20 737100/2712929
Here is a response from Richter Hi-Tech. Another company involved with the project according to the article above.
Dear Aaron
We are not in contact with them at this moment.
I have visited this factory some years back - I doubt that this
venture will have a chance - best wishes
Klaus
Richter Hi- Tech Sdn. Bhd.
Plot 33, Kuala Ketil Industrial Estate, 09300 Kuala Ketil, Malaysia.
Tel: + 60 4 4161668/9 Fax: + 60 4 4161667
Hey, if that's they way you chose to interpret whats happening, then so be it. You want to stay in this until it hits .01, then so be it.
It doesn't take a business class to understand how to trade down here in this realm. It takes experience. 2 + 2 does not = 4 100% of the time.
You asked me to name one company that ever acquires another with only cash on hand. It's usually a mixture of both. I've seen all sorts. One thing I have never seen is a .0001 company make a 51% acquisition of another company with potential annual revenue of over a 1/3 billion dollars while having, in their coffers, 381,124 of cash assets, if you count receivables, $48,275K if you count cash at hand, and $4,924,862 in liabilities. (All figures from 1stQ 2011 ending March 31st.) Add the worth of whatever shares of common stock they have left and you are still are in the red.
But hey, they said it and therefore it must be true. Its not like the people involved have lied about an acquisition before. Oh, wait. Oops. Talk to the NUBL people.
I don't need to persuade anybody to believe anything I write. People have a choice to believe or not believe what I say. Nobody will buy or sell on what I write. They'd be breaking a major rule down here of 'do not make a trade based on what you read on a message board.' Again, you don't need a business class to know that. If a few do make a trade based on my posting, they are too insignificant, with this type of volume, to have an effect on the pps. If something I write sounds legit then an experienced trader will double check it.
Whatever it is you decide to do, good luck. Cause if I'm wrong, and there is always a chance that i am, then you will make a small fortune and that's a good thing. If I'm correct then hopefully you're not in too high to where a loss will hurt.
As I mentioned before, when one of the contacts I have requested confirmation from, deliver a response I will post it immediately.
Cheers,
H8
1st Quarter 10Q released May 15th, 2011. UNAUDITED
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=7937378
CASH AND CASH EQUIVALENTS, ENDING BALANCE $48,275
9 months ending March 31st, 2010 & 2011
Revenue from Production oil/gas sales $0.00
If it's too good to be true, it is. You think you just happened to stumble on the one .0001 company that's hit the big time! We've all fallen for these traps at one time or another. If you play it for .01 hoping to get the nice car or pay off your mortgage with your winnings, you're going to lose. Play it for a few ticks and get out! Make enough to pay your bills and buy a nice bottle of scotch. Good luck to you!
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Phillip Verges' speech from 2009 on doing business.