says, "Companies that trade on the OTCBB will require Cash/Cheque. "
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.
The Acc/Dist indicator
is easily manipulated on low volume stocks, especially those that have end of day painters. By consistently closing the stock above the midpoint of the day's price range, you can guarantee an ever increasing Acc/Dist indicator.
When the stock is hardly trading, the day's range is probably small, and a 3:59 trade at the ask will ensure a positive adder to the ACC/DIST line.
Regards
Revenge II: The Sequel
Anyone think another round of financing is imminent? Going back to that 164M volume day, which cellar boxed the stock, that couldn't have been Peter for two reasons: I don't think he currently has any SEC sanctioned way to move that amount of shares (He maxed out his 504 pretty much), and he still is in Default with Nevada SOS for lack of ~$1300 in fees. Doesn't add up.
So, who was it dumping those shares? Big retail holder(s) finally fed up with the lack of progress? Possibly. Former Financier sensing another opportunity? Possibly.
Regards
If you want to buy a GTM, you have options:
You can buy the kit, and a donor Corvette, and some Porsche parts, and build your own. Figure on $40-50K of your money and 250-300 hours of your time (if you can put in 10 hours a weekend, should take you about half a year to complete the job).
In the alternative, FFR has a list of approved garages that will build the kit for you. It'll cost you more, but save you time.
Revenge is not on that list.
Regards
By whom, Peter?
You should have gone to the website, and gotten contact information from there:
Secretary of State
Nevada State Capitol Building
101 North Carson Street, Suite 3
Carson City, NV 89701
Phone: 775-684-5708
FAX: 775-684-5725*
Email: sosmail@sos.nv.gov
You called the resident agent, not the Nevada SOS???
I may have placed too much trust in your veracity.
Can you clear this up?
Regards
Thanks Dog, that sets the time line
I think Maronti is telling us the absolute truth, but it's clear to me that Peter lied to him when he told him the fees were taken care of prior to 7/24/08.
I believe Hobeau tells the truth too. I think the original check bounced, the original CC was rejected, and after a big deal was made of it, the fees were ?finally? paid on 7/25/08.
I think the company is strapped for cash again.
I think the previous financier is sniffing around the company again.
I think the 164M share dump day was his way of knocking on the door, saying, I'm Back! Who missed me? Anyone need anything?
Wild Speculation? Maybe. But it beats talking about some bolt-on plastic parts for an out of production vehicle.
Regards
Maronti, help me out here
I can't find your post where you said Peter claimed it was a lost check, and then he gave them a CC, and that covered it.
What day was that? It was prior to 7/25/08, was it not?
Regards
If he doesn't have the money to make good
on what he owes Nevada SOS, he also doesn't have the money to hire an IR guy, or even make Marketwatch or PRNewswire releases.
Did you get a hold of Nevada? We need corroboration here.
Regards
Just tested backing up my 1GB generic USB key
using DriveImageXML (freeware program, google it).
Took about two minutes. From there I could burn it to a CD and take the CD to a safe deposit box, or any secure location.
Maybe Mojoe can try it out on his PPS.
Regards
Re: Local Backup
Something for you to try: Do you have Ghost, Acronis TruImage, or a similar program?
You should be able to take an image of the drive, and archive that to CD or DVD ROM.
I don't know the particulars of the Pocket Safe encryption, but you could try putting the image back onto your spare Pocket Safe, using the same PIN code, and see if you get a working copy.
If that works, there you go.
Regards
In fact they will be posting the phone number I have officially.
I believe tomorrow.
Brian wants the company to be more transparent and believes that we will all be pleasantly surprised by August 1.
Did they ever get around to posting that phone number like they said they would?
So, August 1st is no longer the date of interest? It could be August 8th-ish?
Regards
No, that building was there already
The $900K was for the new building, and the tooling in that shop, right?
So, the $900K is gone?
Where did it go? How much more does Peter need to achieve his dreams?
Regards
In light of that
perhaps the Nevada SOS should reject Peter's July 2nd amendment to increase the A/S to 2.5B.
Regards
You mean 1 week, right?
August 1st is 7 days away.
Regards
Completed Cars
Revenge is not listed as one of the companies that will build you a Factory Five kit car.
Here is the list:
Whitby Motorcar http://www.factoryfive.com/compcars/whitby.html
SoFast LLC http://www.factoryfive.com/compcars/sofast.html
Midwest Classics http://www.factoryfive.com/compcars/midwest.html
Levy Racing http://www.factoryfive.com/compcars/levy.html
Gess Motorsports http://www.factoryfive.com/compcars/gess.html
Vegas Venom http://www.factoryfive.com/compcars/vegas.html
LK Motorsports http://www.factoryfive.com/compcars/lkprofile.html
North Racecars http://www.factoryfive.com/compcars/northracecars.html
Regards
It's as good an answer as you're likely to get
until Peter tells us the current O/S.
You know, he could have told you the number when you called him. He DOES have access to it.
Why didn't he tell you the number?
Since 7/03/08, have 1B been traded yet?
There is your answer to "How many .0002's can possibly be left".
Take that number as the upper bound, anyway.
Regards
Being painted, or already painted?
Don't they have a paint booth? Don't they really need a paint booth to be doing production painting? What are the EPA rules in Decatur covering industrial paint applications like this?
Anyway, nice sleuthing! You could use a longer lens on that camera.
Regards
No, it hasn't been taken care of
at least not as of today. They still show Default Status on the SOS site. $1200 plus $75 in late fees are due. The company is on Administrative Hold.
Since the Annual List shows as Filed on 6/27/08, and the Default Status appeared on 7/16/08, I'm having a hard time seeing that it was anything other than a bounced check.
If it was a matter of a trust account not having sufficient funds at the time the Annual List was filed, the filing should have been rejected. It doesn't appear to have happened that way.
Regards
p.s. In any event, they can't file any other amendments with the Nevada SOS until the deficiency is cleared up.
200,000 shares, $20
Not even enough to top off Peter's Ridgeline with the Premium stuff.
Big ain't so Big anymore.
Regards
One good thing
Ironically, he can't file for a reverse split with the Nevada SOS, while his corporation is in Default, and on Administrative Hold.
So, you've got THAT going for you, at least until he covers the account deficiency/bounced check.
Regards
He tried that in May
Didn't work out then.
I do believe an I/R person will eventually be named, and eventually, the share structure will be revealed.
Get ready for a greatly increased float by that time, possibly a reverse split too, if this remains cellar boxed.
Regards
Peter should be paying you.
You are now the de facto I/R person. Don't let him cheap out on you! He gets paid, you should too. Even Buddy gets his ScoobySnax.
Regards
Because he won't tell us
I can't imagine why anyone would buy any more stock from this fellow.
Regards
Didn't 164M shares hit the tape last Friday?
How many shares does it take before it has to be coming from the Company?
Regards
Might have something to do with that Extra Billion Shares
Peter got authorized. Hard Tellin', though. Haven't seen an updated share structure in a while, although many have asked for one.
So, Naked Short Sellers, or More Company Dilution, take your pick.
Regards
If I recall correctly,
there was about $900K of pre-existing debt that got subordinated as a part of securing the Sterling deal. Postal's $250K is now added to that amount.
85% of A/R and 50% of inventory amounted to a line of $2M as of May 1st; that's how I read the filing back then.
You can make some assumptions what A/R was on May 1st, based on that.
Regards
You're misreading that filing, DD
The two debts you highlighted were pre-existing, and needed to be subordinated before Sterling would make their A/R financing available to the company.
Postal's new $250K note was subordinated to Sterling as well.
The full $2M line was available as of May 1st, from my reading. It could go up as more A/R gets booked, based on the percentages in the agreement that you listed.
Regards
Default Status
Status~
The status of a business entity is determined by the currency of documents filed with the Secretary of State. Current Status indicates that the business has filed its initial or annual list. Default Status indicates that the business has not filed its list prior to the first day of the month following the anniversary month and a late penalty is applied. The company may remain in Default for nine months at which time its status is designated as Revoked. An additional penalty is applied to the filing fee to restore the company to Current Status. A company that has been revoked for five years becomes Permanently Revoked.
http://www.nevadacorpfilings.com/files/terms.asp
===
Since it looks like Revenge filed the list on 6/27/08, it has to be a problem with the payment, either a bounced check, or not enough funds held by Nevada to cover the $1200 fee.
Probably will be quickly cleared up.
Regards
Not entirely sure
but it looks like his Annual List Fee was the check that bounced.
Calculate Annual List of Officer Fees for
REVENGE DESIGNS, INC.
Item Fee
Annual List (due 6/30/2008) File This List Online Now! File Offline
$ 1,200.00
Annual List Late Fee $ 75.00
TOTAL*
$ 1,275.00
===
I say that because it looks like he filed the Annual List on 6/27/08, and they are still hitting him up for a $75.00 late fee.
Regards
.004 earnings were pro forma numbers
based on assumptions that are not valid. A new figure could be calculated, but it should be based on what we know now, not what Peter projected 6 months ago.
How many GTMs can realistically be built given their current infrastructure? How many shares are currently outstanding? Give me those figures, and we'll come up with a new pro forma 'earnings' projection.
Regards
Speculation is useless
No one knows, if or when, a R/S will be needed, not even Peter at this point.
Watch the Bids, and Watch Peter.
Regards
A R/S will make sense IF
this goes to minimum/no bid AND Peter still needs to raise cash to achieve his plans, whatever those are.
Watch the bids. Watch Peter.
Regards
Is anyone working Overtime to finish those 5 GTMs?
Or was it 3 GTMs? Anyone burning the midnight oil to get those building plans through DHS?
Coroner's Preliminary Report: Gunshot wounds to both feet; self-inflicted.
Here's a thought
Why not update the iBox with the correct A/S figure?
It is 500,000,000, right? Not 100,000,000?
Don't want to mislead anyone, do weeee?
Regards
Eat my words?
250 to 300 hours is FFR's word, not mine.
1500 to 2000 hours is your word. If that's how long it takes to make one GTM, this company is doomed. They simply can not turn out 250 cars per year given their infrastructure. 2000 hours is 1 man year. 250 cars is 250 man years.
There is no place for 250 grease monkeys on that Indianan lot. Say they all car-pooled (4 to a car). Show me where they park ~60 cars each day? What if they don't car-pool; where do they park 250 cars?
Simple math.
Spent 15 seconds there:
How long does it take to build the car?
We have only built (and rebuilt!) two prototypes to date. Therefore, a lot of designing was done concurrently with the build which lengthened the build time considerably. We are spending huge amounts of our time developing/building the car, so you don’t have to! We estimate it will take the average builder about 250-300 hours(estimated) to complete the project.
http://www.factoryfive.com/table/ffrkits/GTM/faq.html
Your numbers can't be right
I seem to recall reading on FFR's site that it takes 200 to 300 hours.
2000 Hours is *1* Man Year (50 weeks/year x 40 hours/week).
To put out 250 cars in one year, they'd need 250 Man Years of labor. Even with the still non-existent expansion building, they simply don't have that much room for 250 workers.
Regards
Yes, you're quite right
They set their Seasonality ratings based on how a stock has traded the last 5 years. If a stock shows consistent gains during any 'season', it becomes a seasonal stock, as I understand it.
Now, why would CHDO have been a seasonal stock starting in June (when they added CHDO as a Pre-Gold Rush stock), based on 5 year historical results? Could it be because that is the start of Hurricane Season?
Now, as has been covered quite extensively, CHDT is NOT the same company it was in the past. It no longer is a Hurricane play.
So, the whole Pre-Gold Rush Seasonality call may have been unwarranted. The price of only using past results as indicators of the future.
In any event, Ken now calls CHDO a Quicksand stock (Rated D). That of course would all change in a heartbeat if CHDT announced a big STP tools holiday placement for $4~5M.
Watch for it.
Regards