Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
I don't think there is any benefit for the shareholders because it is the Assets being purchased and not stock. Usually when assets are purchased, the TLNT with either choose to liquidate (this is when a shareholder would benefit) or operate as a shell (No assets), but TLNT can use the proceeds from asset purchase to enter into another line of business if they choose to IMO. This to me sounds lik a form of reoganization on the part of TLNT. I will do some research to see whether I'm corrrect.
Where is the rest of that email? The Q&A section
And those same guys who were pumping are well known for that too. That's how most of them make their money on pinkie stocks, (Fish and dump on innocent investors). Bookmark them and avoid any stock you see them posting at.
legal fee of $1mil. LOL
they filed NT-10Q, which means that the 10Q will be filed late.
Only the delayed 10Q will tell.
Usually companies announce good results before they go into promo and ad campaign. I think AAPM has some good results coming up. That's why they can now afford to pay for Advertisements. up we go AAPM. bring in the Revs. A R/S will not hurt AAPM because of strong profits. it will actually look more attractive. Imagine that they have 200mil shares after a 1:12 R/S, the PPS would be adjusted to 0.0024. And with net income of say, $12mil, then the MMs would not be able to short it since the EPS will be attractive at 0.06, thus making the PPS at $1.20 when using an industry multiple of 20 (conservative) as industry PE.
OT: I love google's firefox. I think it is one of the best anti-cookie/anti-phishing browser. Windows explorer will slow your computer because it allows all sorts of junk to filter into your hard-drive.
Is this R/S story a rumor? Has the r/s been confirmed yet?
I totally agree. 8 figure settlement is material and it should have been PR'd the same day as it was recorded. Seems to me that things are not really adding up. just beware of rumors in pinkie land.
What's the o/s now?
what was the O/S before the R/S?
This one could be even a better investment than we thought. Some are here for the $0.125 , but I'm here for a bigger return. As soon as the entire world finds out more about buzz, the PPS could be out of whack. When Intitutional investors join in (since they are now watching on the sidelines), the PPS could easily hit the teens IMO. Remember NTRI a couple years ago? You might even start seeing some tech companies start buying so as to have a larger stake and may be controlling interest,(who knows). Float has already dried up IMO, and no one is selling. The 911 shares are now being used to test the waters IMo. ie to see the range of the spread between bid and ask. I think 911 could also be a signal for MMs to hint to each other that this one is about to explode. I saw the same thing with AAPM this morning and it suddently popped with 50% gains this afternoon. Good company boards, those with revenues and net income have fewer bashers. Let's keep it that way. Flippers, as the PPS is moving upward, are actually working to our advantage because they are handing over their shares to stronger hands. Strong hands can hold to the teens IMO. What d'all think?
Look! Buzz is everywhere
http://www.pdatracker.net/archives/2007/02/buzz_3g_enters_.html
http://www.topshareware.com/Buzz-3G-download-50371.htm
http://www.digitalmediaasia.com/default.asp?ArticleID=22400
http://www.kvia.com/Global/story.asp?S=6132769&nav=menu193_8
http://www.3g.co.uk/PR/Feb2007/4310.htm
http://www.mobileguru.co.uk/news/Mobile-News-2888.html
http://www.pdatracker.net/
http://de.sys-con.com/read/341174.htm
Too many links for me to paste. Buzz is getting known in Europe too.
You're welcome Stockz4O
GDVM thinks that WHKA diluted, WHKA thinks GDVM shorted (or whatever). That's why they are both (WHKA and GDVM) suing each other. It's hard to tell who's the culprit until they end up in court and a ruling is made. GDVM should be trading at $300 after a huge R/S but the CEO is less concerned. Market cap of GDVM was reduced by over 99%, but he is not even worried.
Add BZTG on ibox.
It would be nice. The only problem is that, there are way too many daytraders in this. I was is it a few months ago but got out because of the flipping daytraders.
maybe WHKA will win. I also think that GDVM scammed investors. They did 1:200 R/S and the share price never got adjusted. When the CEO was contacted about this, he mentioned that they even expect the PPS to even go lower. Everyone seems to think that GDVM dilluted the same night they did the R/S.
In my opinion, its better to stay away from either company until the dust settles. I'm out of GDVM because of uncertainty and what's going on between them and WHKA. I'd rather put my money in BZTG. Thanks all for your opinions.
Go to GDVM board and you will get all the info you need about WHKA. Read the PRs on GDVM too. Apparently WHKA dilluted like crazy and are now being sued.
I've been waiting for too long for my order to fill at 0.0001. I guess I have to change to .0002 before the lift off. Hopefully I'll get filled before any news come out.
Imagine you save a document on C: (local) and you go visit your buddy in another state, then you remember that you need the document for some reason, but you left your computer at home and forgot to bring your jump drive or floppy with you. With buzz, you could save that Document in a browser and access it from anywhere and from any computer. it's more like emailing yourself the document, but less straineous and has more capacity. It works more like a network drive IMO.
My thoughts. If Goldman wanted more shares to obtain control, all they would need to do is dump all they had in hand in a few days and crash this stock to 0.0001, then go back and buy them at 0.0001. Just like what happened with GHTI (by whoever) when the dumping from 0.017 to 0.0001 took only a week or so. Any counter argument?
They will IMO. Give them time to get everything in place. They might use CNBC to shock the investment world. I'm glad to be in.
In other words, the float will have completely dried up at $0.124 when ChinaPlus buys the 70mil shares. We could easily see over $1 soon after we hit 0.124. Also, Internet explorer does not have a way of storing folders on the browser, not even google's firefox has it, but our BZTG has it. That's why see a high possibililty of google ultimately going for our Buzz technology. Has ChinaPlus started purchasing the additional 20mil shares? They better hurry before the train leaves the station. The slow upticking might be because our BZTG might have gained the attention of savy investor who usually hold longterm. I love what's going on with our Buzz and the potential to become a multi-billion dollar company. Buzz has the Asian market niche and can easily capitalize on the enthocentricity factor as well as language translation tools. Japan might pretty soon be ours. Has anyone here ever held a 100bagger? eg, .035 X 10000%
Hey. Apparently I'm not able to contact the owner. If anyone here has access to him, tell him to email me about a potential reverse merger. My email is emulwa@yahoo.com or emulwa@gmail.com
GENERAL STEEL HOLDINGS INC: 8-K, Sub-Doc 2
Back Print This Page Close Window
General Steel Holdings, Inc.
GSHO
Company Profile – Pioneers in SOE Privatization
Roth Capital Partners Orange County Conference
February 19 - 22, 2007
Safe Harbor Statement
Under the Private Securities Litigation Reform Act of 1995, this presentation contains certain
forward-looking statements, which include statements concerning plans, objectives, goals,
strategies, future events or performance, and underlying assumptions and other statements that
are other than statements of historical facts. These statements are subject to uncertainties and
risks including, but not limited to, product and service demand and acceptance, changes in
technology, economic conditions, the impact of competition and pricing, government regulations,
unforeseeable uncertainties and risks, and other risks defined in this document and in statements
filed from time to time with the Securities and Exchange Commission. Some projections and other
financial information are based on the information provided by our partners and acquisition targets
that have not been audited and may be subject to changes. Projections on DQ Metal are based on
currently available information and data and are subject to changes and uncertainties. Final results
may deviate significantly from these projections. The consummation of the contemplated
acquisitions depends on the Company’s successfully negotiating the acquisition terms with the
acquisition targets. There cannot be any assurance that these acquisition negotiations will be
successful or whether these acquisition terms are favorable to the Company. Projections on the
major SOE are largely based on negotiations with the government which may vary greatly in
duration. The actual duration and completion of negotiations may be significantly longer than these
projections. All forward-looking statements, whether written or oral, and whether made by or on
behalf of the Company, are expressly qualified by the cautionary statements and any other
cautionary statements which may accompany the the forward-looking statements. In addition, the
Company disclaims any obligation to update any forward-looking statements to reflect events or
circumstances after the date hereof.
Our Vision
By 2010, we target to be the largest non-government owned steel product producer in
China
We intend to achieve sales in excess of $6 billion and EPS in excess of $3.50 per share
We target to consolidate operations in Northwest China and establish key subsidiaries in
select markets throughout China
We target to grow our production from 400,000 tons to 16.5 million tons annually and
revenues from $140 million to $6 billion
We intend to grow through aggressive mergers and acquisitions targeting State Owned
Enterprise (SOE) steel companies and selected entities with outstanding potential
For the past ten years we have laid the foundation to execute this strategy and have now
identified 4 key candidates
Who We are Now…
Company Snapshot
First non-government owned steel company in China – Founded 1989
First Chinese steel company to list in the USA – OTCBB 2004
Primary subsidiary: Tianjin Daqiuzhuang Metal Sheet Co., Ltd. (“DQ Metal”)
Niche: Market leader in agricultural vehicle metal – 50% market share
Profitable: Twenty years profitable track record
Financials: Mkt Cap: $70 million
Sales 2006E: $143 million
Sales 2007E: $180 million
Sales after 2007 should grow 5-10% annually.
CEO will merge his minority interest into stock of the parent company
DQ Profile
3
Transportation vehicles (10 - 15
tons)
24
Overhead cranes
2
Straightening machine
2
Flattening machine
6
Air compressor
9
Gas producer
2
Roller grinder
2
Annealing furnace
6
2,200 m3 gas producer
10
6mm x 2,500mm cut to size
shearer
5
16mm thick cut to size shearer
6
Gas-fired reheat furnace
10
1,200mm Rolling Machine
Quantity
Equipment
Located in Hebei province, Jinghai
county, 20 miles SW of Tianjin
320,390 square feet of building space
on 17.8 acres of land
All property owned and paid in full by
the Company
DQ Profile
Largest PRC producer of hot-rolled steel sheets for the domestic agricultural
vehicle market
10 production lines, production capacity 400,000 tons
Products used primarily by domestic agricultural vehicle market: small, motorized,
3-wheels, payload from 1,650 lbs - 4,400 lbs, retailing US$1,200 -$1,800
Modernized facility, technology and equipment - $12m upgrade in 2005
34% estimated production increase 2005-2006
57.2% estimated YOY revenue growth for FYE 2005-2006
Established nationwide distribution channels – 23 distributors, 3 regional sales
offices, 9 provinces
DQ Financial Projections
Daqiuzhuang Metal
Projected Consolidated Income Statements (in US$ ,000)
For the Years ending December 31, 2006, 2007, 2008, 2009, 2010
Year to Dec.31
2006E
2007E
2008E
2009E
2010E
TOTAL REVENUE
142,253
180,090
202,590
225,090
258,854
Total Cost of Revenue
-135,761
-165,683
-186,383
-204,832
-233,508
Gross Operating Profit
6,492
14,407
16,207
20,258
23,297
Selling, General & Admin. Expenses
-2,152
-2,410
-2,699
-3,023
-3,386
Net Operating Profit
4,340
11,997
13,508
17,235
19,911
Other income (expense)
160
-
-
-
0
EBIT
4,500
11,997
13,508
17,235
19,911
Interest Expense
-2,089
-2,156
-2,156
-2,156
-2,156
Profit Before Taxation & Minority Interest
2,411
9,841
11,352
15,079
17,755
Taxation
-
-1,279
-1,476
-3,619
-4,261
Net Profit Before Minority Interest
2,411
8,562
9,876
11,460
13,493
Minority Interest
-769
-2,568
-2,963
-3,438
-2,699
Net Profit
1,642
5,993
6,913
8,022
10,795
No. of O/S Shares
31,250
31,250
31,250
31,250
31,250
EPS
$0.05
$0.19
$0.22
$0.26
$0.35
Global Industry Snapshot
Fragmented industry
Global supply & demand
China as a world player
Raw materials
Domestic Industry Snapshot
Fragmented with 1100 players
Market segments SOEs vs. Private
Government consolidation plan
Restricted from foreign controlling
interest
Industry Snapshots
Target SOEs and select entities that are market leaders in their niches,
no smaller than 250,000 tons production and offer a PE of 2
Improve their profitability's by introducing western management practices,
introducing improved production processes, introducing western
capital channels for modernization
-------------------------
We have identified targets and designed a 4-Phase Growth Plan:
Phase I: Baotou-GSHO Joint Venture – announced 2006
Phase II: Central China Steel Company
Phase III: Coastal Region Steel Company
Phase IV: Major SOE
Our Strategy
Our Unique M&A Advantages
Provincial Rivalry – In cross-province SOE to SOE mergers, local government
may not endorse commercially viable deals: we are partner
Management conflict of interest – In SOE to SOE mergers, “loosing”
management teams may not endorse the deal
Trust – Management does not see us as a threat because of our long-term
relationships and their inclusion in post-merger operations
Incentive and Reward – Management is made to clearly see the incentives and
rewards for cooperation and inclusion in post-merger operations
Access to foreign capital – No other private steel company has this ability to
access capital markets to consummate mergers: domestic companies must rely
on operating capital; SOEs must rely on equipment contribution and policy loans
Perceived as both foreign and domestic – Our perception as foreign player
makes us welcomed by provincial governments looking to bring foreign
investment to their region: our perception as a domestic company allows for
controlling interest opportunities.
Four Major Growth Opportunities Identified
Our Growth Strategy - 4 Phases
Phase I: Baotou Joint Venture – 51% owned JV announced in 2006.
Phase II: Central China Acquisition – adding capacity 3 million
tons. Expected to be announced in early 2007.
Phase III: Coastal Region Acquisition – adding capacity 2 million
tons. Expected to be finalized by late 2007.
Phase IV: Major SOE Merger – preliminary negotiations
underway. Expected to be finalized by late 2008.
Phase I of Growth Plan
Baotou Steel-General Steel Special Steel
Joint Venture Co. Ltd (SSJV)
3 Stages of Operations
First stage: Announce early 2007 - will add 100,000 tons of capacity and
$45 million of revenues
Second stage: Implement 2008 - will add 300,000 tons of capacity and $135
million in revenues
Third stage: est. Implement 2009 - will add 200,000 tons of capacity and
approximately $90 million in revenues
Phase I of Growth Plan
Baotou Steel-General Steel Special Steel
Joint Venture Co. Ltd (SSJV)
Profile
Joint Venture - 51% JV signed with Baotou Steel – “Top 10” in nation,
3 stages of implementation
Total registered capital of JV: $24MM
Baotou contributes $12MM in land, equipment, and materials
GSHO and DQ Metal contribute $12.5MM in 3 stages
Location – Northeast China, Kundulun, Inner Mongolia
Products – Converter processed alloy steel billets, 60%-70% for oil, natural gas
and boiler use
Production Capacity – 600,000 tons
Customer Base – 10 key customers pre-identified
Phase I of Growth Plan
Baotou Steel-General Steel Special Steel
Joint Venture Co. Ltd (SSJV)
Key Advantages
Upgrade – $6 million physical plant upgrade completed in 2004
Partner – Baotou is top 10 largest steel producers in China
Raw Materials – Baotou owns a large mine 150km to supply raw materials
Transportation – Baotou owns a private railroad to transport raw materials
Product Demand – Pipes used in energy sectors of oil, natural gas and hydro
(boilers) forecast strong and sustained demand
Production Technology – Only producer in top 5 competitors using non-
ectrosmelting; allows for lower production costs
Strong Management Relationship – Key advisory role in prior Baotou subsidiary
turn-around
Future JVs – Strategic entry to future partnerships with Baotou
Tax – Sino-foreign Joint Venture tax holiday for first 2 years
Location – Only large production facility serving Northwest China
Phase I of Growth Plan
Baotou Steel-General Steel Special Steel
Joint Venture Co. Ltd (SSJV)
Baotou-General Steel Special Steel Joint Venture
Projected Consolidated Income Statements (in US$ ,000)
For the Years ending December 31 2007, 2008, 2009, 2010
Year to Dec.31
2007E
2008E
2009E
2010E
TOTAL REVENUE
26,080
44,960
54,400
63,648
Total Cost of Revenue
-24,754
-42,690
-51,658
-59,924
Gross Operating Profit
1,326
2,270
2,742
3,724
other operating profit
SG&A
-652
-1,124
-1,360
-1,537
Net Operating Profit
674
1,146
1,382
2,187
Other income (expense)
-
-
-
EBIT
674
1,146
1,382
2,187
Interest Expense
-
-
-
EBT & Minority Int.
674
1,146
1,382
2,187
Taxation
-
-
-228
-372
Net Profit before Minority interest
674
1,146
1,154
1,816
Minority interest
-135
-229
-231
-363
Net Profit
539
916
923
1,452
Profile
(Negotiations in final stages – estimated to be announced early 2007)
Located along a major waterway and railroad artery serving both Northwestern
and Eastern seaboard regions
Fully-integrated production capabilities: mining, coking, sintering, iron making,
steel-rolling, steel making
Main products include steel bars, strip steel, tubes, billets, pig iron, and coke
Capacity to produce approximatly 3 million tons of finished product annually
Equipment includes 6 sintering machines, 8 blast furnaces, 4 converters, 3
tandem mills, and 2 oxygenerators
Company has about 659 acres of land and 6500 employees
Annual Revenues expected to be in excess of $1 billion
Earnings impact: roughly 8x increase
Phase II of Growth Plan
Central China Steel Company
Phase II of Growth Plan
Central China Steel Company
Subsidiaries
Iron mine with current reserves of approximately 300 million tons
76% of a rolling mill that produces ribbon steel
39% of a iron and steel company that produces 300,000 tons of billets
90% of a steel company that produces 100,000 tons of rebar
Leased railway lines in the Northwest region’s largest steel trading center
51% of an import-export company
100% of an integrated transportation company - 23 loaders, 13 cranes, 1 excavator, and
160 vehicles
75% of a machinery maintenance company
75% of a company that makes products from steel making waste products
100% of a company producing refractory materials
four other subsidiaries
Phase II of Growth Plan
Central China Steel Company
Key Advantages
Secure resource bases of iron ore, coke, water, electricity, limestone
Iron mine with 300,000 ton reserves
Largest coal deposits in province
Transportation access to major highways, and a special railroad connecting
mine directly to the production site
Located at the Bridgehead to the Western region
Western region targeted by Central government for strong infrastructure
and economic development
Large transportation cost advantage for rebar (main product) - not suited
to long haul transportation
Nearest competitor is 500 km. away
Eligible for Western Region Development reduced tax
Phase II of Growth Plan
Central China Steel Company
Phase III of Growth Plan
Coastal Region Steel Company
Profile
(Negotiations well underway – estimated to be announced later 2007)
Location is in a prime domestic and international transportation hub
Main products include rebar and wire
Capacity to produce 2 million tons annually
Equipment is less than 3 years old and state-of-the art
Hot rollers designed by the top institutes in China
Processing equipment imported from Europe and the U.S.
Production site is 1.4 square kilometers with additional 2.5 square kilometers available
Strong existing distribution base
Current run rate $923 million
Expected purchase price 1.6x earnings
Phase III of Growth Plan
Coastal Region Steel Company
Key Advantages
Owned by a company that is a major customer for steel construction products
Company has not been well managed because its managers have
little steel industry experience
GSHO believes it can show dramatic improvement in performance by
installing its trained and expert management team
Company is a dominant supplier to the construction industry in one of the fastest
growing regions of China. It also has a good export business to South East
Asian countries including Vietnam, Thailand, and Malaysia
Management is willing to sell at a very low price in order to ensure a continuous
source of supply for it’s projects
Additional 2.5 square kilometers are available for developing a steel slab facility
in Phase 2 of this project. Construction is planned for 2010-11. The land is very
close to a large seaport
Phase III of Growth Plan
Coastal Region Steel Company
Coastal Region Steel Company
Projected Consolidated Income Statement (in US$ ,000)
For the Years Ended December 31, 2008, 2009, 2010
Year to Dec.31
2008E
2009E
2010E
TOTAL REVENUE
923,077
1,015,385
1,167,693
Total Cost of Revenue
-824,414
-906,855
-1,042,883
Gross Operating Profit
98,663
108,530
124,810
Selling, General & Admin. Expenses
-15,385
-17,693
-19,816
Net Operating Profit
83,278
90,837
104,993
Other income (expense)
-
-
EBIT
83,278
90,837
104,993
Interest Expense
Profit Before Tax & Minority Interest
83,278
90,837
104,993
Taxation
Net Profit Before Minority Interest
83,278
90,837
104,993
Minority Interest
-16,656
-18,167
-20,999
Net Profit
66,622
72,670
83,995
Phase IV of Growth Plan
Major SOE Steel Company
General Profile
Production Volume: One of China’s leading SOEs
Capable to produce 63 varieties of steel and nearly 2000 specifications of steel
products
Market dominance in key transportation infrastructure product
Nearly 30,000 employees
Over 20 subsidiaries, numerous Joint Ventures and partnerships
Nation-wide distribution and sales network, international sales offices
Phase IV of Growth Plan
Major SOE Steel Company
Major SOE Steel Company
Projected Income Statement (in US$ ,000)
For the Years ending December 31, 2009, 2010
Year to Dec.31
2009E
2010E
TOTAL REVENUE
3,825,000
4,398,750
Total Cost of Revenue
-3,366,000
-3,803,580
Gross Operating Profit
459,000
595,170
Selling, General & Admin. Expenses
-76,500
-84,915
Net Operating Profit
382,500
510,255
Other income (expense)
-
EBIT
382,500
510,255
Interest Expense
-104,000
-106,080
EBT Before Minority Interest
278,500
404,175
Taxation
Net Profit Before Minority Interest
278,500
404,175
Minority Interest
-136,465
-194,004
Net Profit
142,035
210,171
Consolidated Growth Forecast
Consolidated Income Statement (in US$ ,000)
For the Years ending December 31 2006, 2007, 2008, 2009, 2010
Year to Dec.31
2006E
2007E
2008E
2009E
2010E
TOTAL REVENUE
142,253
755,882
2,615,226
6,829,795
7,855,352
Total Cost of Revenue
-135,761
-695,271
-2,376,294
-6,019,856
-6,839,078
Gross Operating Profit
6,492
60,611
238,932
809,939
1,016,275
Selling, General & Admin. Expenses
-2,152
-21,064
-63,772
-150,666
-167,994
Net Operating Profit
4,340
39,547
175,159
659,273
848,281
Other income (expense)
160
-
-
-
EBIT
4,500
39,547
175,159
659,273
848,281
Interest Expense
-2,089
-8,916
-16,929
-123,556
-123,480
EBT bef. Minority Int.
2,411
30,631
158,230
535,717
724,801
Taxation
-
-2,762
-10,422
-27,367
-37,186
Net Profit Before Minority Interest
2,411
27,870
147,808
508,350
687,615
Minority Interest
-769
-11,834
-46,066
-220,237
-295,942
Net Profit
1,642
16,036
101,741
288,113
391,673
No. of O/S Shares
31,250
46,250
56,250
116,250
120,000
EPS
0.05
0.35
1.81
2.48
3.26
Our People
Management Team
Henry Yu: Founder and Chairman of the Board. First private steel enterprise owner in
China (1989), Former CEO of DQ Metal and Sheet; MBA, BA Business Management,
BS in Engineering; China national representative to Asia Pacific Economic
Cooperation (APEC) Development Council
John Chen: Chief Financial Officer. California CPA license; 7 years public and
private practice with US and Chinese companies; BS degree from Cal Poly Pomona.
Bi-lingual English & Chinese
Ross Warner: Director. 17 years management experience with companies working in
Asia; 8 years in China; MBA from Thunderbird; Bi-lingual English & Chinese
Guodong Wang: Director, Chief Technical Officer. Engineer at Anshen Iron and Steel
Company (2nd largest Steel Producer in China), Master’s Degree in Engineering from
Beijing Iron and Steel Research Institute, Professor at Northeastern University,
Shenyang
Our Vision
By 2010, we target to be the largest non-government owned steel product producer in
China
We intend to achieve sales in excess of $6 billion and EPS in excess of $3.50 per share
We target to consolidate operations in Northwest China and establish key subsidiaries in
select markets throughout China
We target to grow our production from 400,000 tons to 16.5 million tons annually and
revenues from $140 million to $6 billion
We intend to grow through aggressive mergers and acquisitions targeting State Owned
Enterprise (SOE) steel companies and selected entities with outstanding potential
For the past ten years we have laid the foundation to execute this strategy and have now
identified 4 key candidates
Copyright © 2007 QuoteMedia. All rights reserved. Terms of Use.
Market Data powered by QuoteMedia, www.quotemedia.com, SEC filings by 10kWizard.
I know someone who owns some oil producing wells in Oklahoma and would be interested in entering into merger negotiations with this company. Can anyone get me the company contacts please?
Just the fact that this company is about to be sued is good enough for me to bail out.
This is why we all need to be careful. Any company that fires an auditor should always suspected of scam. The O/S is also 1Billion with no revenues reported. LOL JMO.
Item 4.01. Change in Registrant’s Certifying Accountant
Effective February 2, 2007 the firm of Ronald R. Chadwick, P.C. (“Chadwick”), our independent accountant who audited our financial statement for our fiscal years ending December 31, 2004 and 2005, was dismissed. Our Board of Directors authorized this action. Chadwick had audited our financial statements for the fiscal years ended December 31, 2004 and 2005, and reviewed our financial statements for the relevant interim periods, as well as the interim periods ended March 31, 2006, June 30, 2006 and September 30, 2006.
In connection with the audit of our financial statements as of and for the fiscal years ended December 31, 2004 and 2005, and the interim period through February 2, 2007, there were no disagreements with Chadwick on any matter of accounting principles or practices, financial statement disclosure, or auditing scope of procedures, which disagreements, if not resolved to the satisfaction of Chadwick, would have caused them to make reference in connection with its reports to the subject matter of the disagreements.
The audit report of Chadwick on our financial statements as of and for the years ended December 31, 2004 and 2005, did not contain an adverse opinion or disclaimer of opinion, nor was it qualified or modified as to uncertainty, audit scope, or accounting principles, except as follows:
“The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in Note 2 to the financial statements, the Company has suffered recurring losses from operations and has a working capital deficit and stockholders' deficit. These conditions raise substantial doubt about its ability to continue as a going concern. Management's plans in regard to these matters are also described in Note 2. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.”
We have requested that Chadwick furnish us with a letter addressed to the Commission stating whether it agrees with the above statements. A copy of this letter is included herewith as Exhibit 16.2.
In addition, effective February 2, 2007, we retained the firm of Schwartz Levitsky Feldman LLP ("SLF”) to audit our financial statement for our fiscal year ending December 31, 2006, and include such report as part of our annual report on Form 10-KSB for our fiscal year ending December 31, 2006. This change in independent accountants was approved by our Board of Directors. There were no consultations between us and SLF prior to their appointment.
My guess for the three months to come (this coming Q in May) is $0.88 PPS. Kinda like CPNE one year ago.
Let's all download the Buzz Instant Messenger 2 and chat live with each other. We could also conduct shareholder meetings with the company online.
I understand the Buzz IM has the capability of showing movies as well as exchanging files ie, better than yahoo and MSN messengers. I think google will want to own this technology since it's the only thing google doesn't have in its of portfolio technologies. Asia as a continent will respond positively because of the capability of doing searches in various different languages. Not all computer savy Asians speak or write english well, thus this capability of doing searches in various languages is a big competitive edge. Also, The $50Bllion market is dominated by a few companies, ie MSN, yahoo, Google, and another Chinese company. Now its time to make some moves as a company. Remember, consumers always like new stuff. Some will leave yahoo and MSN to join Buzz IMO.
We are now buzzing. I like the way BZTG keeps me informed through email. You'll need to sign up for email info. http://www.12isp.com/
SHUT YOUR WINDOWS!
a Swarm is coming…
Buzz Technologies Inc BZTG.PK has embarked on a bold strategy, to take on the Giants of the Internet, with a suite of products ready and much more coming the company is ready for the Convergent Media future and the changes that makes to the Internet, TV and Mobile Phone.
At the web level, The Buzz Browser, THE BUZZ Instant Messenger, our SMS, VoIP and Search engines are all operational and being integrated into a single powerful Platform. This Competes directly with Windows Live, Windows IE. With further Development the Buzz Browser is also a competitor to Windows Vista and XP. The Buzz Virtual Computer will see a stage 1 release this week allowing Individuals and corporations the ability to store their files within the browser, making those files available from where ever they log on.
Microsoft Revenue is expected to be in the range of $50.2 billion to $50.7 billion, The majority of this income came from the markets Buzz will enter in competition. While Buzz does not expect to be catching Microsoft Corporation anytime soon, this week we start the process.
While we could explain in detail the technical specifications we think as a shareholder or potential shareholder you should simply compare the products
MSN Search Buzz/Google Search
Windows IE ( 90% chance you are probably using that now ) Buzz Browser Click Here
Windows Live Messenger THE BUZZ
Buzz VoIP Rates Skype Rates
Buzz Free SMS
Here's my theory about PTSH and DBYC. DBYC is a subsidiary of PYSH. DBYC initially reverse merged with PWVG. At that time DBYC was trading under DBAC symbol. PWVG had 130 million shares when PTSH assumed controlling ownership. Control is usually 80% of stock ownership. However, DBAC did a forward split of 1:10 of the PWVG shares. Also, PTSH issued stock dividend of 1:3 on DBAC shares. ie, If you owned 1 share of PTSH, you'd get 3 shares of DBAC. After the 1:10 forward split, DBAC shares moved from 130 Mil to 1.3Billion. If any shares are restricted, it could be the 1:3 dividends that PTSH shareholders got and are restricted IMO. The 1:10 F/S are free trading shares and are not restriced. What is really fishy to me is that, all those PRs that PTSH issued about PWVG and the F/S ratios, as well as the O/S of PWVG, have been removed. Why? restrictions last between 1 - 2 years.
Check this link out. Isn't PCLO operating as a job placement company in NC? (Just like career builder). Hopefully the Revenues this coming Q will match the statistics. Nowonder someone has been loading up here lately.
http://news.yahoo.com/s/nm/20070216/us_nm/life_work_dc
DBYC is a subsidiary of PTSH. The O/S is slightly a bit high. About 1.3Billion. They are expected to be profitable as a Sub, but financials would be out in a Month and a half IMO. It's been behaving this way here lately. You will see it drop about 50% in a week with only 1mil share, and then it would spike back up with 50mil shares of purshases. Risky, but intersting IMO. I'm waiting for it at 0.0005 if it ever gets there. Last Q, this sub made about 500K in profits, so I think with the amount of shares outstanding, I would value it between 0.0001 and 0.0005 IMO. Seems like someone has been loading up at 0.001 since last week. FYI Check out PCLO, it had the same amount of net income as DBYC and someone has been loading up on it too at 0.0001. Should be interesting Quarter IMO.
Its better to be conservative at pinkeland with the O/S. Management in all pinksheet stocks dilute every minute of the trading sessions. The net income is an estimate untill there is an official audit report to rely on. All transactions during an audit will have to be looked in more details to ascertain what management has reported in the financials. Here's some proof of the O/S http://www.gopaypro.com/financials/6-05_12-04_paypro_fr.pdf
http://www.gopaypro.com/financials/6-05_12-04_paypro_fr.pdf
It is usually an industry PE that's multiplied by the EPS to ontain the PPS. Average economic PE is 15. company made net income of 27,000,000/8,000,000,000 (~8Bil shares) = EPS of 0.003375
0.003375 x 15 (PE) = 0.051 (PPS)