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Just bought 20K of BRLZ to put in my back pocket. It has come back to the .02-.03 range and there is now an LOI from early eb. that should be consummated soon IMO. They had the 'E' for a period o time ater this, and filed and lost it. IMO, this is bottom floor. Went to .20 just on the LOI. Should easily do this with confirmation on the deal. Yes, there is a R/S, but rom what I hear, the merging co. is one worth owning.
Wednesday February 7, 11:37 am Eastern Time
Press Release
Biorelease Corp. and Electric Energy Storage Corp. Sign Letter of Intent
MANCHESTER, N.H.--(BUSINESS WIRE)--Feb. 7, 2001--BIORELEASE CORP. (OTCBB:BRLZ - news) announces the signing of a letter of intent pursuant to which Biorelease would reverse merge with ELECTRIC ENERGY STORAGE CORP., a Nevada corporation (``EES''). As part of the proposed transaction, the name of Biorelease is to be changed to ``ELECTRIC ENERGY STORAGE CORPORATION'' and the current management team of Biorelease will resign and be replaced by EES's management team.
The letter of intent provides, among other things, that Biorelease will first issue enough shares to transfer control of Biorelease to EES management. Thereafter, Biorelease is to reverse split its outstanding common shares on a 1 for 12 basis and is to spinoff or otherwise dispose of its wholly-owned subsidiary (and only operating company) Biorelease Technologies, Inc. Holders of record on March 31, 2001 will be eligible both for the reverse merger and the spin off of Subsidiary shares held by Biorelease. To acquire EES, Biorelease would issue to the EES shareholders a total of 35,800,000 post-reverse split shares. After the reverse stock split, and upon the issuance of common shares to the shareholders of EES, Biorelease would then have approximately 38,900,000 shares of common stock issued and outstanding, of which 35,800,000 shares would be owned by EES shareholders.
The completion of the proposed transaction is subject to, among other things, satisfactory due diligence by both BRLZ and EES, the signing of a definitive agreement, approval by the shareholders of EES and the filing of an information statement to the Biorelease holders as of the record date. If at the completion of the transaction EES fails to qualify for a listing on NASDAQ small cap, the number of shares to be issued to EES will be reduced by 5,900,000 shares. Should EES fail to raise at least $5,000,000 in its proposed private offering, the number of shares to be issued to EES shareholders will be further reduced by up to an additional 2,000,000 shares, thus reducing the total shares issued to EES from 35,800,000 shares to 27,900,000 shares.
EES, a development stage corporation, was formed to investigate and bring to market, facilities that can economically store electricity in a manner commercially compatible with the United States electric power grid (``the Grid''). In December, 2000, EES acquired an exclusive US license for certain ``High Capacitance Energy Storage Device Technology'' from Elgin Investments of Toronto, Canada. This licensed technology, along with other technologies under review by the Company, will form the core technology from which EES hopes to commercially demonstrate storage of off peak power to be released onto the Grid during periods of peak demand. EES has acquired land adjacent to the Grid in Houston Texas. Upon completion of fundraising activities currently underway and the completion of its strategic plan, EES expects, in conjunction with one or several power producers, to construct a storage facility on this parcel which will, if successful, demonstrate the commercial and economic feasibility of its proprietary storage technology. EES has had no revenues since inception.
BRLZ, based in Manchester, NH, is engaged, on a limited basis, in the development and licensing of biotechnology-related products. BRLZ is a fully reporting publicly traded company whose common stock is traded over-the-counter on the Electronic Bulletin Board (OTCBB) under the symbol ``BRLZ''.
This press release may contain forward looking statements that involve risks and uncertainties which could cause the actual results to differ materially from those intended or anticipated by the company. No stock exchange has approved or disapproved the information contained herein.
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Contact:
Biorelease Corp.
R. Bruce Reeves, 603-641-8443 Ext. 15
Patsy, are you able to get into bobz this morning? If so, could you do me a favor and post the link to the hot stock tips board? When I go through bobz.com, then hot stock tips, it errors.
Well, looks like someone sold OPHD. 2500 shares and the ask is down already to .35. I bought 2000 @ .40 the other day, and nothing moved. It figures!
The IBEM I bought yesterday at .38 is doing well. Gapped pretty well this morning. The last trade said .48, but was really .38x.39. Don't know where that trade came from.
Added more ATEG this morning @ .012. This co. is not a POS like many and deserves to be valued much higher.
Yep, IMO, this market is still choppy. Take what you can get and sock it away or now. I'm still not convinced that the bear has finished roaring. I don't mind it trading down or sideways. Good time to make money when the market is down one day then up the next.
Anyone having problems getting into bobz this morning? I cleared all my internet history when that goon on bobz gave out where I lived. I usually just go through bobz.com, hot stock tips, but it isn't working this morning.
Out of TIXX at .50. Looks like a not so good day in the market, volume is low, and it seems the selling will overtake any buying. Securing profits is the name of the game.
DCTG, I think these MMs are on some kind of drugs. No volume, yet they now lower the bid, and up the ask. Now .035x.06. Yeah, that'll really reel in the sellers and buyers. This is a complete disgrace.
It is certainly a strange scenario. I guess theoretically, if we were still holding OPHD as of 1/1/02, then we would have to pay short term gains on the .83/share. If we sell, then if we take a loss, then it would wash. The only actor is that you can only write off $3000, so theoretically, you are having to pay taxes on money that is truly yours and not the governments. This was money that was simply taken out of the price, and given back to shareholders. Very confusing. Will make our lives miserable around tax time next year!
Thanks for all your DD Patsy. Gotta get ready to go to work now, but thought I'd check here before I did. What is your opinion on whether or not the distribution is taxable? In my account, it wasn't indicated as a dividend, it was indicated as "return of equity". They squeezed out .83/share, gave it to us, then took it out of the price of the stock. I don't see why we would have to pay tax on it.
The problem is that this was not a dividend. In my account, it qwas not stated as dividend. It was stated as "return of Equity". That's what it was. Not a dividend at all. They simply took .83 off the price of the stock and gave it to you in cash. Whoever wrote the PR for OPHD should be shot! This was anything but a dividend. It would be ridiculous for anyone to have to pay tax on money money that they already put into the stock. I'll talk to my accountant about it, but a dividend is a per share amount that you receive, but the price of the stock doesn't go down proportionatly. Take GE. They provide a quarterly dividend, but the stock price isn't effected from it.
This was selling off assets, and simply providing us with the proceeds. Because the stock price was decreased by the same amount, no tax is due. Our equity in the stock by decreased by exactly the amount of the distribution.
This is the biggest mess trying to figure this out!
Boy you are lucky bonzi_guy. This entire thing has me so confused. I certainly would have sold and bought back if I'd known that. The rules of the game for dividends should be much clearer. Actually, in my account, this was not referred to as a dividend, but rather "return of equity". I don't think you even have to pay taxes on it because it really isn't a dividend. E-mail Patsy @ patsyw@vallnet.com and she will send you the info. She has gone for the day and requested that anyone who wants the info, to send her an E-mail.
One thing is for sure on DCTG, the MMs are trying to discourage buying. The spreads they keep on this! Will just have to wait and see.! Have a good one!
Pretty good day today. have a great night everyone.!
Just bought a little of your favorite IFAN. Level II looks good. Someone is buying it up a little at a time!
As the song goes, those were the days! Boy were they ever!
Geez, that's quite a purchase. Hopefully, you can sell some today. I made some off it as well last yeat, but nothing like you did!
HCEN, being accumulated @ .13 and .14. Adding more myself.
See ya patsy. looking green all over today.
You have 200K shares of CTDH? When did you get them? It hasn't had any vol. or quite some time.
Yep, I think I have 50K shares or somewhere there abouts myself. Looking good, but as usual they'll wait until they have next to nothing let befote they let it go.
LABN, 1.19x1.21 Patsy. Let the buying begin!
Perhaps, but it looks like its already run. Good for someone who got in this morning for sure!
joejo, ATCM has a very low float. If you have Level II, sometimes the bid/ask change with no volume. Amazing!
I think you mean BMII.
AGLFE goes Chapter 11.
Wednesday May 2, 12:09 pm Eastern Time
Press Release
Atlantic Gulf Communities Filed a Voluntary Petition Under Chapter 11
SUNRISE, Fla.--(BUSINESS WIRE)--May 2, 2001--Atlantic Gulf Communities Corp. (OTCBB:AGLFE - news) announced today that it filed a voluntary petition under Chapter 11 of the United States Bankruptcy Code on May 1, 2001 in the United States Bankruptcy Court for the District of Delaware. Included in the filing were voluntary petitions for several affiliates of Atlantic Gulf. The entities that own and operate West Bay Club in Naples, Florida and Chenoa in Aspen, Colorado were not included in the filings.
Atlantic Gulf also said that it had entered into an agreement with Ahern & Partners Advisors Co., Inc. to serve as its Restructuring Advisor to assist the companies in formulating a plan of reorganization and to negotiate its approval with all creditors and related parties. Patrick M. Ahern of Ahern & Partners Advisors Co., Inc. has been appointed President and Chief Executive Officer.
Ahern said the filings were made to allow for the timely implementation of the restructuring agreement Atlantic Gulf reached with its senior secured lenders before the filings and to protect the continuing development and completion of West Bay Club and Chenoa. Ahern also announced that Atlantic Gulf and its senior secured lenders had entered into an agreement for the lenders to provide debtor in possession financing, subject to the approval of the Bankruptcy Court. He said, ``This new financing will enable the Company to operate and continue to fund the development of West Bay and Chenoa while it completes its restructuring.''
Atlantic Gulf is a developer and operator of luxury residential real estate communities. Its stock is traded publicly over the counter bulletin board (AGLFE).
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Contact:
Atlantic Gulf Communities Corp., Greenwich, Conn.
Patrick M. Ahern, 203/661-2223
patsy, did you add more COMM today. I'm with you, eventually this has to explode. Tons of accumulation in the low 20's.
ATCM, boy making up lost ground on this one. Bought @ 1.70 last Friday, ws halted on Monday, opened down so I averaged down. Bought more in the 1.40's and 1.30's yesterday and today. Now 1.75x 1.85! I'm gonna hold.
Boy BWAYE is up pretty good today. Perhaps filing is within sight.
Not in, but looks good. Already at the high of the day, so don't know.
HCEN, basing very well @ .13/.14. I'm accumulating. .28/sh in cash, and .32/sh book value. Chart looks good and so does level II.
Glad to see you here creamrising. You've added some insights to the board. Don't be a stranger!
The problem with HITT is the insiders are selling. I always look @ the insiders listing before buying anything. Another lesson learned from the past!
Yep, sometimes you have to learn the hard way. We were both in one previously, so we know better the next time!
Yep, sometimes you have to learn the hard way. We were both in one previously, so we know better the next time!
AMJY now AMJC will probably be .10 or less this time next week. R/S is like the kiss of death.
Remember you deciding on whether or not to average down on MNX. Glad you did now!
I agree Patsy and for a NSADAQer the O/S and float are low which should help fuel the fire.
Toshac, I averaged down on KWNK @ .08 and .09. Looks like it has bottomed. My average is now about .14 I think. Averaging down is the only way to go IMO.