is...throwing money into the Euro
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hmmm alrighty then
thanks
...I just gotta know where to send it
yeah....didn't I say that? =P
thats a negative there cap'n
DR Entertainment didnt dump shares. Jesse Rodriguez sold MG Financial (the underwriter) 200mil shares for $20k. These shares were introduced to the market as the public float (i.e. the shares we own right now).
250,000,000 shares are owned by Mr Susnar, and the same amount of shares are owned by Mr Chornomud---these shares are restricted from sale unless the SEC is notified in writing. AND 1.5bil shares of treasury stock that is not allowed to be sold to employees of DR Entertainment, PERIOD. That equals 700,000,000 shares, which is exactly the amount of shares outstanding.
what?
The float is the number of shares held by the public...and uhhh..if I'm not mistaken, thats 6,531,501,513 shares.
11,000,000,000 shares authorized, and I'm assuming the difference in A/S and O/S equals restricted shares or treasury stock (anybody know?) Maybe I'm wrong, so I guess the question is (and maybe I missed this) but does Stetten own any of the O/S??
yeah that was me lmao then I changed my mind =P
nope. Par value is 0.0001 according to the terms of the Reg D Form of August 20th.
i.e.
200,000,000 shares were sold for 0.0001 for a net sum of $20,000.
The Reg D Form was filed to raise funds for DR Entertainment. Don't misinterpret this...funds of UP TO $1mil can be raised over the next 12 months, which is the bare minimum as far as Reg D forms go.
Look at it this way, would you rather have it be worth $5mil?? With one of my previous posts, I told all of you where the $20,000 went. I have the Reg D Form hardcopy in my hand here...
Just don't twist the issue..k?
See..here come the buyers..
so...are there any financials on this one?? =)
so, is anybody going to the stockholders meeting tomorrow?? lol
maybe we'll see some action here soon...?
Correction: JR sold WRII to DR Entertainment, and of the total common shares, 200,000,000 shares entered the public market through MG Financial as the public float.
no...I'm saying the float was never 18,000,000. Mr. Rodriguez sold WRII (not as a shell company) to MG Financial, LLC. 200,000,000 shares were considered the public float, and 500,000,000 were deemed restricted. The 1.5bil shares (of the original 2bil shares) that Susnar retired became treasury stock ineligable to be sold to employees or any individual for that matter. MG Financial purchased the 200,000,000 float shares that entered the open market, and since the PR where all of this was discussed, this float value has NOT changed. =) ...Is this what you meant?
So yes, now would be a good time to get in, in my opinion.
hmmmm i dunno guys.
well...the underwriter (MG Financial, LLC) had 200,000,000 shares as of August 20th. They are located in Bloomington, MN, and their job is to passively solicit shares to accredited investors (i.e. brokerage firms etc) in order to raise capital for WRII. The minimum investment for buying these shares from MGF is $1,000 (which is the minimum amount WRII needs to get the business back on its feet). Reporting these transactions to the SEC are not required.
Dilution isn't in the picture because we know where the float is (MGF purchased these shares for resale to investors), and we know how many shares Mr. Susnar and Mr. Chornomud own which are prohibited from being sold for up to a year after the merger (i.e. the shares are restricted). All of this information adds up to and legitimizes the reported O/S value of roughly 700,000,000.
Read this excerpt from About.com:
(http://stocks.about.com/od/understandingstocks/a/Shareterm113004.htm)
"Restricted Shares - Restricted shares refer to company stock used for employee incentive and compensation plans. Restricted stockowners need permission of the SEC to sell.
There is a waiting period after a company first goes public where insiders' restricted stock is frozen. When insiders want to sell their stock, they must file a form with the SEC declaring their intention. Even insiders of established companies must file with the SEC before selling their restricted stock."
So you see, Mr. Susnar and Mr. Chornomud have restricted shares that are currently "frozen" which require SEC approval before they are sold on the open market.
The 1.5 billion shares that were retired after the merger are now considered treasury shares. (Treasury Shares - Shares a company retains in its treasury and not issued to the public or to employees are treasury stock.)
I see a whole bunch of cheapies at this price. I might load up again now, regardless of whether its bottom or not. You know?
I still think that all of the action we saw a few weeks ago was everyone selling because they were scared to stick it out.
"STOCKHOLDERS PURCHASING LESS THAN 2910 SHARES BUT AT LEAST 100 SHARES AFTER NOVEMBER 19, 2007, AND WHO CONTINUE TO HOLD SUCH SHARES AS OF THE RECORD DATE OF THE REVERSE SPLIT, SHALL NOT BE AFFORDED SPECIAL TREATEMENT."
Anybody else see what I mean? If you buy now, you wont get special treatment, i.e. if you buy 99 shares tomorrow, you'll recieve about 4 shares after the r/s because you bought in after 11/19/07.
What are y'all thinkin?
so does that mean if you buy only 99 shares, those 99 shares won't split but the share price will increase??
I was agreeing with your statement.....You know, like backing it up.
I try my best.. =P
That's exactly what I'm saying. lol
Form 15 was filed waaaay before Minxx was in the picture. So even from the start, they weren't required to report jack. =)
I mean, if you're a straight guy, oversized hooters will distract you for at least a few hours. It's hypnotizing.
Ok then.
Maybe someone was up the night before it was due, partying with a bunch of chicks and forgot to pay the loan because of a hangover.
See..it can happen
I think we are all making a huge mountain out of a mole hill...The most crucial information, is the info we don't have and won't get, and that's circumstances regarding day-to-day business and events inside the business.
Well, have you ever missed a credit card payment? =P
Well, if they missed a payment, WHY do you think they are in the process of refinancing the loan?? Logically, it would make sense for them to refinance in order to pay the missed payment and other expenses.
$1.145mil loan
$1.5-2mil cash (or cash equivalent) gain expected by debt restructuring...
If you take 1.5 and subtract 1.145, what do you get?
...
See what I mean?
no no...Rodriguez didn't get the $20k.
According to Form D:
Transfer agents fees: $450
Difference between the aggregate offering price
and total expenses: $19,550
Salaries and fees (paid to JR): $5,000
Total repayment of indebtedness: $14,550
So $5,000 + $14,550 + $450 = $20,000
Thats where all the money went.
As for debt refinancing, you generally want more current assets than current liabilities, which is exactly what WRII has. $12,500,000 estimated in property assets and a $6,000,000 loan (current debt). Every company isn't going to make a profit in the first 7 months, and it hardly ever happens that way. WRII has only been open for business since May '07, so in order to finance growth and expansion, WRII applied for a mortgage on the property in order to get their hands on working capital in order to finance the business' growth. This process takes some time. Wait until after New Years..
Also, here is the website of MG Financial:
http://ainmanagement.com/
Took a while to find it, because there are a lot of companies called MG Financial, surprisingly...
I had to restrict my search to the company's address...
I forgot to mention in one of last posts that the Reg D filing for WRII was in the form of an equity offering and NOT a debt offering.
-BC
it looks like it'll be a FS of 1:15 which would give O/S of,
643,000 x 15 = 9,645,000 shares
Take the companies rumored revenue of $100,000,000 and you get a share value of about 10 bucks. BUT that doesnt even consider net profit or operating expenses or even what the company is worth in assets.
I'm not saying the PR would be out by Friday, but we might get the 8-K.
The PR might be next week.
From the last 10QSB:
"On September 17, 2007, the Company entered into a promissory note with Mr. Balbirnie in the amount of $19,000 for various obligations the Company was party to, including former legal counsel, former transfer agent and tax obligations with the state of Delaware. The note carries interest in the amount of 8% per annum and must be repaid by the Company on or before November 31, 2007" (I think they mean November 30, 2007)
That transaction would close the deal. =P
I'm expecting the 8-K soon.
well...I expect the deal to close by Friday. Then we'll see interest lol
Interest in the form of more bling bling. =)
"PR's only noted that WRII's worth in in its property"
-Well, not really. He's given us an indication of what is to come. Expected revenue of about $2mil per annum. I would hope this is the reason we are all in 'stock speculation' to begin with.
"Susnar missed payment on the property"
-Well, not really...unless you know something. He is refinancing the mortgage on the property, which is normal for anyone or any entity that owns property. They expect to free up roughly $2mil by refinancing, which is normally expected by refinancing property the way WRII is.
"WRII traded higher as a shell"
-WRII was never a shell to begin with. The SEC does not have the company listed it as a shell company and according to the SEC it was never listed as a shell company. Also, the company could not have filed a Reg D form if it were a shell company. Form D of the filing indicates the company was incorporated in 1982, and even Mr. Susnar stated in his interview with wallst.net that the company was looking to go in a new direction to become profitable.
So you see, WRII is in a sense more of a 'turn-around' situation rather than a 'going public' scenario. That being said, they are not obligated to change their ticker symbol, but they will more than likely do so when they re-register as a reporting company in the beginning of next year, as Mr. Susnar explained in his interview with wallst.net.
All of these 'plays' take some time if its a legit company. But if you feel good trading companies that have no recent filings, no fundamentals, and no news, then more power to ya. I hope all of you bashers out there step back and look at the big picture here. Or at least take a moment and think about whats really going on here rather than making assumptions. Look at all the facts first, then speculate.
I read all that a long time ago....lol
Nice reiteration though lol
Well, thanks.....I do what I can. =)
I have the Reg D form here...got the hardcopy today in the mail. Much to everyone's surprise, it says NOTHING about UBSS or Susnar or Chornomud dumping stock.
Jesse Rodriguez (former beneficial owner, executive officer and director of WRII) filed the REGDEX form on August 20, 2007. It was processed August 24th. According to Form D of this filing, WRII is not a shell company, and it was incorporated 9/8/1982. The form filed on 8/20/2007 is pursuant to Reg D Section 4(6) and/or an exemption. As indicated by the filing, the main underwriter of this stock is MG Financial, LLC of Bloomington, MN which, according to the document, is allowed to and plans to solicit purchasers of the stock in that state, but only in that state. The minimum investment required in this particular case is $1,000. However, to date, shares of common stock have been sold to only ONE (1) accredited investor (the main underwriter) for the amount of $20,000 at a pps of 0.0001. That's roughly 200,000,000 shares or the number of shares in the public float.
701,011,000 Shares Outstanding
201,011,000 Public Float
As for a R/S...there is no evidence that this is even in the plan. It is my opinion that an O/S value of about 12,000,000 shares is average for most microcap companies. That would mean that a R/S of 60 for 1 could be expected if a R/S were even in the picture.
Read it and weep all you negative nancies!
For all of you that stuck it out, good luck! =)
-BC
ONMC filed FORM 15 August 3rd.
I'm just stating the facts.
there's even less info on ONMC than there is on WRII
But yet, WRII has a less O/S and a lower PPS....
I smell a lot of BS in the air....