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Plenty of DD done. NVAE, NWMT, NUBL, CCTR, etc. All part of Verge's umbrella. Its not too far fetched as they have done it before.
What's far fetched is that a shell company with 48K cash would be able to acquire 51% of a $28,000,000/month $366,000,000/yr business. Even with just under $2,000,000,000 in common stock available to issue, that would still not be enough to acquire 51% of a $366,000,000 a year business. If it is true, then that's a better deal then when the US bought Manhattan Island from the Indians!
What 'few sources' have verified the info?
Thanks for the info Value. I'm watching it.
Verges may not be the CEO anymore, but his hands are deeply entrenched in the company. So are James Tilton's.
Look, all I'm saying is that this is good play for a couple of ticks. Not something to hold onto. Additionally, look at what Tilton and Verges did with the big CCTR/NUBL acquisition that was going to happen and then never did.
In regards to James Tilton:
On April 1, 2010, June 30, 2010, September 30, 2010, December 31, 2010 and March 31, 2011, the Company converted a total of $105,000 in accrued salaries due to Jim Tilton, the Company’s Chief Operating Officer for convertible notes in the same principal amount, due on March 31, 2011, December 31, 2010, March 31, 2011, June 30, 2011 and December 31, 2011, respectively. The notes accrue interest at 8% per annum. Principal and accrued and unpaid interest on the notes are convertible into shares of common stock at a conversion price of 50% of the closing bid price of common stock on the date of the notice of conversion. Of these notes, $30,000 came due on March 31, 2011 and is currently past due.
In regards to Phillip Verges:
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.
On April 26, 2010, the Company purchased certain oil drilling equipment for $397,500, financed by issuing a promissory note payable. Of this balance, $175,000 was assumed by Phillip Verges, the Company’s then Chief Executive Officer. The note bears interest at 5% per annum and mature on April 26, 2013. Any unpaid amounts after the maturity date will accrue interest at 21% per annum. A balance of $297,500 was outstanding at March 31, 2011.
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.
On June 3, 2010, the Company received $300,000 from companies majority-owned by Phillip Verges, the Company’s then CEO. The amount has been classified as an advance payable – related party in the accompanying balance sheets at March 31, 2011 and June 30, 2010, until such time that the advance is memorialized into a note. The Company received the advance to fund its working capital. The advance currently bears no interest, does not mature, and is unsecured.
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.
Verges is still involved through his other company NWMT. NVAE still owes him hundreds of thousands of dollars. Including salary from back when he was the head of the company that was given to him as convertible shares. Along with James Tilton.
Hey, if you can play this thing and get some bucks out of it, awesome! Just don't play it for what it's not. Don't get greedy and don't expect the moon. You'll do fine.
I tried to get the .0001's before the announcement. But my order never got filled. Had it been filled I would of flipped it at .0003. .0002 if there was no news. I might put in an order for .0002 and see if it gets filled and flip it at .0003, tomorrow.
Is this the normal market reaction for a stock that just made a 51% acquisition of a $28,000,0000 a month, $336,000,0000 a year, company?
There is one factory in Nairobi, Kenya that will be doing condom manufacturing. Is Savanna east Africa part of that? Yes, it is possible. Do they have enough shares to distribute in order to acquire a 51% take in company with that type of revenue generation? Why didn't say in the PR how it was acquired? All I want to see is confirmation from a 2nd source. In the article below there are plenty of partners and government offices working to get this project going. Where's their reaction to this news?
Article from last April.
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
Additionally, there would be media reaction from numerous outlets from around the world, not just Savanna's own orchestrated PR. How about the companies already involved with the project? There would be updates on East Africa Latex Manufacturers' website, Richter Hi-Tech's website, GEMI Rubber's website. The websites of the National AIDS Control Council (NACC) and the Kenya National AIDS/STI Control Programme (NASCOP). Not to mention numerous other Kenyan government offices.
http://ealatex.com/
http://www.richterhi-tech.com/rht/
http://www.gmdu.net/corp-562047.html
http://www.nacc.or.ke/
http://nascop.or.ke/
I have inquiries out to all of the above organizations. One has responded. But did not confirm. Still pressing them. if they get back to me I will post it.
MM's would have jacked the ASK up pre-market. Volume would of been insane!
Question? This company is controlled by Verges and Tilton. Have they done something like this before? Orchestrated a PR campaign regarding a big acquisition? Yes. As recent as few months ago. When NWMT's subsidiary, CCTR was going to make deal with NUBL where NUBL acquired CCTR's subsidiary Shenzhen Nubao Technology Co. Ltd. (“Nubao”). This was supposed to be all wrapped up with a big red bow at the end of June-July. NOTHING HAPPENED. There is no longer any talk about it or mention of it. The whole idea has just disappeared.
Conclusion, if you are buying this above .0003 with hopes it catapults to over .01 without a confirmation from a credible source that the acquisition did indeed occur, I hope your arm has enough strength to hold the bag. For those getting in and out. Smart move. You're savvy in your ways and you will make a bundle. Congrats!
All the shares they could muster up wouldn't be enough for a 51% stake in a $336,000,000 a year company.
Verges and Titlon have done this before. Whatever happened to that huge acquisition of CCTR's subsidiary Shenzhen Nubao Technology Co. Ltd. by NuMobile. Oh yeah, all news of it has evaporated after the hype settled down.
East Africa Latex Manufacturers Limited are going to make good money from their plant along with their partners Richter Hi-Tech and GEMI Rubber, the National AIDS Control Council (NACC) and the Kenya National AIDS/STI Control Programme (NASCOP). Interesting how Savanna has appeared to hijack their accomplishment.
Just like I said. Those in at the .0001's are getting out at .0003. Nice 150% return!
Did anybody ask themselves how Savanna paid for 51% of the no-name manufacturing plant acquired from the no-name partners? They only have 48K in the bank. You think the other company gave up 51% of a company worth 28Million a month in revenue for 48K? Do you think stakeholders would let another company come in and take 51% of their company that could generate 28 million a month? Sheesh 15 minutes left to get out and pocket profits.
CSJ, who's the accountant? It's not BAI-CPA/Greenfield, which is listed. They claim they have not been approached. McMullen Law Group claim to have no idea who the accountant is and they have yet to receive any financial documents.
Gotta accept the fact that James Tilton specialty is running shell companies. The only reason this company still exists is to pay St. George Financials. But, if you can get in at .0001 and play the 1 tick flip, I think you could do well.
Hoping to have confirmation from Kenyan sources by tomorrow. I'll post what is given to me. I don't trust this company at all, but hey, stranger things have happened.
If you're gonna play the flip here, read the article below. Its from last July 18th, 2011. It outlines the people and institutions involved with the factory. I'm awaiting confirmation from all of the companies listed below, whom I have sent inquiries to, to confirm the partnership with NVAE. If and when that is obtained, I'll let the board know.
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
"Kenya set to have the first condom manufacturing plant by the end of the year.
The erratic supply of condoms and dependence on donor-supplied latex-based health commodities in Kenya is likely to be a thing of past if efforts by the government to facilitate the establishment of local condom manufacturing plant succeeds.
East Africa Latex Manufacturers (EALM), a local company, is currently in talks with key stakeholders such as government ministries, the National AIDS Control Council (NACC), Kenya National AIDS/STI Control Programme (NASCOP) and financial development agencies to fast-track the establishment of a condom manufacturing plant in the country before the end of the year.
The firm has partnered with Richter Hi-Tech a Malaysian firm which will offer technology support. It has also sought consultancy services from GEMI Rubber, the only firm in Africa that has pioneered in the manufacturing of condoms in Botswana. GEMI Rubber provides management and technical consultancies on start-up and existing condom manufacturing projects."
EALM director, Ms. Wambere Kariu noted that the company has already conducted visibility studies and identified premises for the installation of the plant saying she is optimistic that production of the male latex will commence in the third quarter of 2011.
"We believe this can be done and all that is required is the right technology, the right partners and a supporting institutional framework," says Ms. Kariu
Kariu was speaking during a meeting on Promotion of setting up a local manufacturing plant that was held at the Ministry of Industrialization headquarters in Nairobi.
Industrialization Secretary Eng. John Mosonik who chaired the meeting said that the government is focused on encouraging and creating an enabling environment to have all products consumed in the country produced locally because of the socioeconomic and technological advantages that come with local manufacturing.
He said that the government is committed to developing and availing incentives that will encourage firms that are seeking to manufacture condoms locally. He said that government is happy with the manufacturing of condom initiative and gave assurance to the investor that the government will fully support the venture.
He said the government through its Kenya Bureau of Standards will also ensure that products manufactured locally met the requisite quality and standards.
NACC director, Prof. Alloys Orago, who also attended the meeting, said that the estimated condom requirement for last year was 309million noting that it is time the country started manufacturing its own condoms in order to meet the increasing demand.
He said that the dwindling donor support was hurting preventive measures in the country and noted that it was high time that such initiatives were given the full support not only for condom manufacturing but also manufacturing of ARVs locally.
"Let us start from home by putting up our own industries to help our people," said Orago, adding that as a country we must embrace all methods that hinge on prevention to enable us manage HIV/AIDS.
Besides the manufacturing of condoms the company also intends to manufacture other Latex-based health commodities such as Probe covers and gloves for surgical sterile and industrial purposes. The company anticipates to initially manufacture 180 million male latex condoms annually and create over 200 jobs in the country.
Local production of condoms is expected to boost health security and condom efficacy, create jobs, facilitate technology transfer and create economic linkages.
If the buyers this week outnumber the flippers getting out at 2 and 3, you'll jump quickly to .0008-.001 before it collapses back down.
Going to be interesting to watch.
Good news? Sure. Not so sure. The key phrase The plant is currently in pre-production, though construction of the facility and manufacturing equipment is almost complete.
I now ask myself, if the plant is already in pre-production and near completion, why on earth would the other company involved with the project give up 51% of ownership to another company just to put on the finishing touches??? They could surely come up with the rest of the financing to complete production themselves and not give away the farm. MAKES NO SENSE!
Also, how did they fund the project? Cash oh hand is under 50K, according to the last 10Q. Did they dilute shares to get it?? The fact they didn't say how it was acquired is fishy right there in itself.
So lets see. Shady company + shady acquisition in a shady country = YIKES!
I'll wait for the factory to be completed before I enter this anywhere above .0001. My buy order is in for for .0001 right now. If it gets filled I'll flip it at .0002-3 like everybody else. If not, I'll sit and watch the chaos.
Who deleted the original post? This is a good argument.
NUBL and HLXW might as well go into business together. So much in common. They both have Tilton steering the ship, both are drowning in debt with St. George. And both have no assets, liabilities or operations.
It'll be bought by the 1-2 tick flippers. Additionally, you can guarantee that down the road, that there will be a pump to entice people to buy.
Clueless, do you know what CPA they are using? It is not the company that is listed.
No clue?? Do you guys know how much money St. George (John Fife) makes off of this company?
Just the financing charges alone for violation of St. George notes
2010: $960,500
2011: $1,113,464
Add in the fact that St. George. and John Fife own a collective 185,946 of preferred Series A stock, which make them among the 5 entities that have the majority voting power in the company.
Add to that St. George had James Tilton inserted into the company as CEO. Essentially speaking, James Tilton 'works' for St. George since he is their puppet. He owns 504,865 shares of Series A preferred.
So basically 3 out of the 5 majority voters in the company are St. George people. And of those 5, they control the majority of the voting majority.
St. George's first command to James Tilton. Raise the A/S to 100,000,000,000 shares so that there will be enough to convert.
Regardless of where the share price is, When St. George converts their shares, it'll be at a discount. Even if the PPS is at .0001, he'll get them discounted at .00005 and still make a killing.
This company has returned to be being a shell. No business activities. No product, except for on paper.
The future of this company will be that NWMT, NewMarket Technology, James Tilton's business buddies that go around buying up shell companies, which include Titlon's other companies, will acquire Helix. John Fife of St. George will make millions and then they will R/S, to such a degree, in order to wipe out all existing shareholders.
Who knows. The 2011 WCD is in one month. Should bring some awareness.
The lock has been temporarily lifted until Friday so that brokers can settle any unsettled shares that were traded when the lock out first occurred.
As outlined below, DTC will offer Participants the opportunity to make the necessary updates and
deliveries to complete their failed transactions during a specified limited time period, as follows:
DTC will lift the global lock and the SEG chill on Friday night, August 12, 2011 until
approximately 5:00 PM Friday night August 19, 2011. DTC will maintain chills on other
services including deposits and withdrawals to prevent any unintended transactions from
occurring. This update will permit participants the ability to send in their memo seg
instructions and permit them to segregate or release positions in these securities for several days
in advance of the delivery time period outlined below,
The Eligible Securities (ELIS) files will systematically reflect the global lock and SEG chill
removals and are typically available to participants between 7:30 PM and 8:00 PM EST each day.
The Data Delivery Service (DWIZ) change files will also reflect the global lock and SEG chill removals and are typically available to participants between 9:00 PM and 10:00 PM EST each
day.
In addition, on the evening of August 17, 2011, DTC will also remove the DO chill on all CUSIPs identified below. This change will also be reflected in the ELIS and DWIZ files created on the night of August 17, 2011. This will allow all participants to submit deliver orders to DTC for processing on the next 2 business days, August 18 and August 19, 2011.
Obligation Warehouse (OW) users should include the OW control number on all DOs to ensure that the settlement status associated with these obligations is updated in the OW.
These CUSIPs will maintain this “unlocked” status until the night of August 19. This will permit participants to have two business days to process instructions against an ELIS and DWIZ files that contains the changes to the affected CUSIPs. DTC will continue to accept MSEG, SEG and Deliver Order and reclaim instructions for all CUSIPs identified below until the applicable valued cutoffs occur or approximately 5:00 PM on August 19, 2011.
Prior to the night cycle beginning on August 19, 2011, DTC will restore all CUSIPs to their
original status by reinstating the SEG and DO chills as well as the applicable global locks. Any future dated transactions or additional input after the status is reinstated, e.g., memo seg, Night Deliver Orders will reject.
Cost of revenue is a bitch, aint it.
Revenue vs. cost of revenue.
I'm sure he will be adding Helix Wind to his companies soon enough. They're at .0002 right now. His boy James Tilton from Numobile and Savanna East Africa is running that one. They have toxic debt from John Fife from St George's finance, who is also a convicted stock fraudster. Tilton gave this guy majority vote. Tilton's first act as CEO was raise the a/s from 1.5 billion to 100 Billion.
Whats amazing is that its all legal.
LETTER TO SHAREHOLDERS:
http://newmarkettechnology.com/lts_20110811.html
Exactly. 276 million shares know that any company associated with Gelmon, regardless of product, is a one tick flipper. 'House always wins.' Best be doing what the house does.
How many people here have orders in to sell at .0002?
My guess is +200 Million shares worth.
I do.
I'll give Michael some respect for posting on here. He's pretty much offered himself up to be a punching bag for all the disgruntled investors. He's going to need a thick skin.
At the same time, itrader, you are correct. Actions speak louder then words. Words don't create trust.
That being said, Michael has my respect for opening up a line of communication. However, getting my trust is a whole other issue. Only time and actions will get that back.
And it shows her selling at .0005 where?
Bid and ask are too thin and volatile right now to buy.
What price are you looking to get in at?
And you know for a fact that insiders dumped millions of shares? Lol. Not likely. Which insiders (names) did the dumping? How many shares did they each dump specifically? Truth is you have no idea. No clue. None of us do. Making assertive claims with no proof or confirmation is amateur. Do you know what arena you're in right now? Dilution, R/S, etc, are always a threat here. It takes zero brain power to preach that they're possible. And it gets you no respectability on the board. At least do yourself a favor. If you're going to make assertions, provide the proof that supports them.
This company has issues that you can legitimately slam it for. How about the delay in getting financials released or the discontinuation of fluff PR's. Use those things instead of jumping on the 'R/S is near', 'dilution is rampant', blah, blah, blah bandwagon.
Until we see the 10K,Q, its hard to decipher why they abandoned the patent. I've been in contact with the patent lawyers trying to figure it out. Not willing to pony up the cash is not likely the reason. Is it possible, sure. In the world of speculation, anything is possible. Although it would be highly illogical. It either has to do with the technology not being worth as much as they originally thought, the technology being inept, or Solarbrook's subsidiary isn't the assigned recipient.
I see that this is your first couple of days posting on Solarbrook's board. Have you done DD on this? Do you know it's history? Do you know what supposedly lies ahead? Is your strategy for trading this complete? Is your 'gamble' defined. Ie, I am betting this goes up if ------ happens. I betting this collapses if ----- happens.
.0005's by weeks end.
Those are short interest numbers. Short selling combined with short covering. Not an accurate way to determine total number of shares short.
I'm here. Updating whenever new info comes along.
I dunno. They haven't given a time frame. Last years was on August 23rd. So probably sometime around then.
As sure of your theory as you are, it is still speculatory no matter how much you scream. So, unless you have definitive proof, its merely a guess. Which is fine. Once the quarterly is released, we'll know for sure.
Its possible. But still, its just a theory. Until the actual facts become known, and it is no longer speculatory, we stay at .0003-.0005.
The gamble right now revolves completely around what they did with 1.5 billion shares in the 2nd quarter. Where did those shares go? And why they chose not to release an 8K explaining it. That answer will be the main factor on whether this goes up or down. The town meeting will do nothing for investors. In football terms, it's a pump fake.
On June 1st, PriceWaterhouseCoopers wrestled control of the AJW Master Fund II liquidation from KPMG. Is SSHS part of that fund and will it have an effect on the debt structure?
Post worth revisiting. #5317