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Basic DD? How are you able to get a response to an e-mail when I have failed every time I have attempted?
Has anyone been able to find the 8K property schedules? Still looking but without much success.
Here's another...
acquire or internally develop assets that have or that can create value faster than and beyond the costs associated with their acquisition, development, and growth.
I get this picture in my mind from a movie, Wallace & Grommit in the Wrong Trousers. There's a hilarious climactic chase scene where Grommit (the Dog and brains of the duo) is seated on a model railroad train that has jumped the tracks, and he has to lean over the engine to lay down tracks fast enough to steer the train in whatever direction that will cut off the escape path of the villainous penguin. Where he's getting the endless supply of tracks is a mystery, but he manages to keep one step ahead of disaster, not unlike our intrepid Mr. Scozzafava.
Shareholder Value...
Management is concerned with and focused on increasing shareholder value. The first and requisite step to achieve increased shareholder value at Seaway Valley is to first acquire or internally develop assets that have or that can create value faster than and beyond the costs associated with their acquisition, development, and growth. Management believes Seaway Valley's first two platform acquisitions have provided just that. As the holdings generate a history of performance, Seaway Valley can utilize lower cost sources of capital versus those used by Seaway Valley (and its predecessors) to date. The successful closing of the Wells Fargo line of credit is one example of that. And as these core holdings mature and the capital generated is in excess of what is needed to sustain growth, that excess capital can be used for such activities as convertible debenture repayments, preferred stock repayments, and/or common stock re-purchases. Once the underlying business conditions permit that, management is committed to such a plan.
Seems to me Tom is committed to share reduction the old fashioned way - hard work and making a profit. IMO, there will be no Series E or B or Z share conversion. Nor will he be giving up his share of the pie. Good for him, but bad for shareholders looking for immediate relief from the dilution problem. I hope this puts an end to the speculation about share reduction in the immediate future.
Seems there's a simple explanation - People are not convinced that heavy dilution has slowed, and as evidenced by today's PR, no immediate relief is being offered by the CEO.
Hey Soapy, someone said you've seen the property schedules from the recent 8K. I've searched everywhere with no success. Where did you find them?
Kudos to AZ who was pretty much spot on with the final numbers.
For all the hoopla surrounding the retirement of the legacy debt, it sure hasn't translated into much excitement on the buying front. Only 12M shares traded so far...about $50,000 worth. A little more action in the PM would be most welcome.
IMO, it means we have half a second to catch our breath before the next wave of dilution hits.
I'll drink what I can to keep the margins UP!
That's all we need...
Any guesses why they're so hard to find. Shouldn't they accompany the 8K, or are they not available because the deal hasn't been finalized? Seems strange that an important item like that can't be readily found.
The SEC website doesn't show the schedules either. Must be some simple explanation...I'm just a novice about these things.
The 8K make reference to property schedules, it's just that I can't find them. I'll use some other site.
I've read through the 8K using the Knobias (http://knobias.10kwizard.com/main.php) SEC filings website, but cannot find the schedules that list the properties in question. Maybe what I am reading is not the full 8K.
Lots of reversals since mid-October. Everyone of them stalled a day or two later.
Yes, it's possible, but not very probable.
The source of all our problems...
http://www.watertowndailytimes.com/article/20080426/NEWS05/723865485/-1/news
Families on trips affected by fraud
THEFT AT WISEBUYS: Debit accounts frozen over suspicious activity
By JAMES R. DONNELLY
TIMES STAFF WRITER
SATURDAY, APRIL 26, 2008
CANTON — The discovery that their debit card numbers were among hundreds believed stolen from Canton's WiseBuys department store in December couldn't have come at a worse time for two Canton families.
"We were on vacation in Myrtle Beach, at the outlets shopping, when they tried to hold our card," Kelley Glasgow said. "I didn't understand that. There was plenty of money in our account."
A counselor at Canton Central School, Mrs. Glasgow was traveling with family and friends on spring break when KeyBank froze her debit card because of fraud.
"It's a little embarrassing when you are with friends and your card is rejected," Mrs. Glasgow said. A call to KeyBank revealed the family checking account was $4,000 overdrawn, including nearly $3,000 in disputed charges.
"I didn't have another debit card," Mrs. Glasgow said. "KeyBank was wonderful. They opened the ATM and let me take out the maximum amount of cash while I was there. When we got back in Canton, I spent Monday morning in the police station and at the bank."
Mrs. Glasgow's debit card number was among thousands of numbers believed stolen from WiseBuys in December. The thefts were discovered in recent weeks after some of the stolen numbers were used to make fraudulent cards that were used in and around New York City to make purchases.
It remains unknown how the numbers were stolen, but it is believed to affect customers who, like Mrs. Glasgow, shopped at the Canton store between Dec. 5 and 20.
"I spent $12 and some cents for kids' hats and mittens," she said.
Although it took nine business days, all of the disputed charges, including overdraft charges, were forgiven, Mrs. Glasgow said.
Brent H. and Faye E. Bartley, Canton, also were on spring break in Myrtle Beach when Mrs. Bartley's debit card was frozen, her husband said.
"We were away on vacation and tried to use her card a couple of times and it wouldn't go through. When she got back she contacted the bank and they said they had noticed activity in Europe. They looked at her activity and saw she had bought groceries at P&C and the next day she was making purchases in Europe. It was Romania. They froze the account," Mr. Bartley said.
Mr. Bartley said he is not certain if his wife shopped at WiseBuys or a Hannaford supermarket in December. Hannaford, which has stores in Massena and Watertown, reported the theft of some 14.2 million credit and debit card numbers in March. They also were stolen in December.
10 cents...that's a 2703% increase from this level.
A 27 bagger. How many here have seen one of them?
Hope it's not a case of plausible deniability.
Hey, Viva...why are Soapy and AP no longer moderators of the SWVC board. Was it a Saturday Night Massacre?
Well then, Tom is technically correct about the rate of dilution "subsiding". We're now at 34,500,000 per month compared to 130,000,000 per month in 2007. What a bargain, eh?
From the 10KSB...
"During the year ended December 31, 2007, holders of the aforementioned securities converted amounts totaling $1,573,798 into 784,710,849 shares of common stock."
That's an average share price of .002! That's 500 shares for every dollar of debt.
Wonder what 2008 will bring.
Mornin' All. Here's hoping for that elusive "next run orchestrated to the .07 range"? Yeehaw!! Let's roll them lucky 7s. Actually, I kinda feel like most of us here are on the last roll on a table in Vegas. Hope the die aren't loaded!
You rang?
The Series E are missing from the 8K, but the SWVC Preferreds have increased by 100,000.
From the 10KSB...
The Company has 2,505,000,000 shares of capital stock authorized, consisting of 2,500,000,000 shares of Common Stock, par value $0.0001, 100,000 shares of Series A Preferred Stock, par value $0.0001 per share, 100,000 shares of Series B Preferred Stock, 1,600,000 shares of Series C Preferred Stock, 100,000 Shares of Series E Preferred Stock, and 3,100,000 shares of undesignated Preferred Stock, $0.0001 par value.
From the 8K...
There are Two Billion, Five Hundred and Five Million (2,505,000,000) shares of capital stock of SVCC authorized, consisting of Two Billion, Five Hundred Million (2,500,000,000) shares of Common Stock, par value $.0001 per share (the “SVCC Common Shares”) , One Hundred Thousand (100,000) shares of Series A (non-convertible) Preferred Stock, par value $.0001 per share, One Hundred Thousand (100,000) shares of Series B Convertible Preferred Stock, $.0001 per share, par value $.0001, One Million, Six Hundred Thousand (1,600,000) shares of Series C Convertible Preferred Stock, par value $.0001, and Three Million, Two Hundred Thousand (3,200,000) shares of Preferred Stock, par value $.0001 per share (“SVCC Preferred Shares”). As of the date of this Agreement, there are 997,941,917 SVCC Common Shares, 100,000 Series B Preferred Shares, and 1,458,236 Series C Preferred Shares issued and outstanding. The Series B Preferred Shares are entitled to cast 80% of the votes at any meeting of the SVCC shareholders.
The rest of the 2.5B AS total looks like it's going to be gobbled up by the rest of the legacy debt and the 800M tidal wave of shares that are just around the corner. I hope I am wrong, but this is looking really, really bad for the share price in the very near future. IMHO, Tom is going to have to cobble together an incredible Quarterly in order to avert Armageddon.
Thanks, appreciate the help.
rpt...what date do they become eligible?
I may have missed it earlier, but who understands the status of those restricted 800,000,000 shares that some were saying were eligible for trading in the next couple of weeks. Will they be dumped onto the market, or am I missing something?
If I am reading the 10K correctly, it shows that of the 891M ahares OS on 12/31/07, 784M shares were devoted to debt conversion last year.
Good and well-meaning people FAIL in business for a lot of different reasons. Let's be realistic about our chances here. Seaway has a very tough row to hoe. Tom is working in a depressed economic region in the beginning stages of a recession. Money is extremely tight. The timing on the start of this venture is also unfortunate. I like Tom's plan, but I fear he may not be able to make it work. Despite all the obstacles, a good plan sometimes succeeds against tremendous odds. I hope that is the case with this company.
I just sent an e-mail the other day to Sacketts asking about that very thing. I always love a good brew, but some local distributor would have to be sold on it before it had a chance in the local market. And I don't think many distributors are going to be convinced without a huge national campaign.
There are hundreds if not thousands of microbrews in the U.S. The chances of one brand busting onto the national scene are extremely slim. A huge amount of money and marketing savvy are needed to pull off a coup like that.
The share price has been falling since mid-October...that's more than 6 consecutive months. People have been saying it's been bottoming just as long. Odds heavily favor a continued decline in price, despite what the most positive posters may hope for.
That 20M share bonus is looking a bit paltry about now.
The SEC needs some real bite...
Looks like Pee Wee Herman.
So Viva, you gonna rule this kingdom with an iron fist?
VivaLeTyrant!!! ;^)