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Yeah!
Let's hope!
yep, I kept my Scottrade account for a backup. And once in a while Scotty will let you trade something that IB won't, although it is usually the opposite.
Here's a story some of you might find amusing and hopefully a harbinger of things to come. When I received the notice of the 54C in my email inbox I clicked on the Free Edgar link so that I could copy it and bring it to the board. While I was doing that I popped WNSH into one of the four Alphatrade Level II windows I keep on one of my trading screens. It showed a bid/ask of .06/.08!!! Man, did my heart start pumping and my mind start rushing! What happened? Should I sell some right now at .06? Wow!
A moment later I noticed that I already had WNSH in one of the other Level II windows with the correct .0003/.0004 spread. Evidently, Alphatrade got confused with the same symbol entered into two Level II windows and one chart and was feeding me erroneous numbers in the new window. But man, was it nice for a few moments to see a .06/.08 spread!! Go WNSH!
yep, check it off. Next!
maybe, but my bet is that it'll be back.
I'm sure that stervc can explain it much better than I, but in essence Frank and his attorney and/or CPA decided that turning WNSH into a BDC was not the best way to go. Frank had originally intended to file to make the change to a BDC; then he changed his mind. This filing is the next step in his plan for WNSH. The man does what he says he's going to do - a rarity down here in the Pinks.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-54C
OMS APPROVAL
OMS Number: 3235-0236
Expires: June 30, 2009
Estimated average burden
Hours per response 1.00
NOTIFICATION OF WITHDRAWAL OF ELECTION TO
BE SUBJECT TO SECTIONS 55 THROUGH 65 OF THE
INVESTMENT COMPANY ACT OF 1940 FILED
PURSUANT TO SECTION 54 (c) OF THE
INVESTMENT COMPANY ACT OF 1940
The undersigned business development company hereby notifies the
Securities and Exchange Commission that it withdraws its election
to be subject to sections 55 through 65 of the Investment Company Act
of 1940 (the "Act"), pursuant to the provisions of section 54( c) of
the Act, and in connection with such notice of withdrawal of
election submits the following information:
Name: Winsted Holdings, Inc.
Address of Principal Business Office: c/o: Appletree Capital Ltd.,
One Northfield Plaza, Suite 300, Northfield, IL 60093
Telephone Number (including area code)': (847) 441-1822
File Number under the Securities Exchange Act of 1934: 000-32333
In addition to completing the cover page, a company withdrawing
its election under section 54(a) of the Act must state one of the
following bases for filing the notification of withdrawal:
Other. Explain the circumstances surrounding the withdrawal of election.
The Company has The company has changed the nature
of its business so as to cease to be a business development
company, and such change was authorized by the vote
of a majority of its outstanding voting securities.
On October 17, 2007 the Company?s Board and management
approved the withdrawal as a BDC. No shareholders? meeting
was required. The Company will engage in advising
distressed private companies in turnaround situations.
Specifically, the Company will identify small private
companies (the "Clients") and assist them with managerial,
accounting and financial advice and help them refinance
or raise necessary capital by introducing them to
potential investors and lenders. As compensation for
these services, the Company proposes to receive revenue
to sustain operations and may receive shares of the Client,
which will then be registered by the Client in its
initial public offering.
In addition, the Company may acquire business
entities by an exchange in shares. There can be
no assurance that a merger, if any, will take place.
The Company may also act as a holding company
structure for operating businesses.
SIGNATURE
Form of signature:
Pursuant to the requirements of the Act, the undersigned company has
caused this notification of withdrawal of election to
be subject to sections 55 through 65 of the Act to be duly signed
on its behalf in the city of Northfield and the State of Illinois, and this
day of October 17, 2007.
[SEAL]
Signatu
re
__Winst
ed
Holding
s,
Inc.___
_______
_By: _
Fran
cis
Manz
o
Franc
is P.
Manz
o III,
Presid
ent
Francis Manzo
Attest: _
Francis P. Manzo III, Secretary
INSTRUCTIONS FOR FORM N-54C
Read instructions carefully before preparing this notification. It may
be returned as not acceptable for filing unless it is prepared, executed,
and filed substantially in accordance with these instructions. This form
is not to be used as a blank form to be filled in, but only as a guide
for the preparation of a notification of withdrawal. The form should be
filed on paper 8 1/2 X 11 inches in size.
(a) This form shall be used pursuant to section 54(c) of the Act to
notify the Commission of the company's withdrawal of its notification
of election to be subject to sections 55 through 65 of the Act. Such
withdrawal will be effective immediately upon receipt by the Commission.
Companies filing this notification should be aware that it is only a
withdrawal from the regulatory system applicable to business development
companies, described in sections 55 through 65 of the Act. A company
which files this notification may be subject to sections 1 through 53 of the
Act unless it qualifies for another exemption from those sections.
(b) Signature.
An original and three copies of the notification of withdrawal of
election shall be filed. The three copies may have facsimile or
typed signatures. If the company is a business development company
having a board of directors, the original notification of withdrawal of
election shall be signed on behalf of the company by a director, officer,
or trustee. If the company is a partnership, the original notice shall be signed
by a general partner.
(c) Filing.
The notification of withdrawal of election and all inquiries and communication
with respect thereto shall be forwarded to the Securities and Exchange
Commission, Washington, D.C. 20549.
(d) Fee.
There is no fee charged for filing the notification of withdrawal of election.
(e) Incorporation by Reference.
A company may incorporate by reference any information previously filed
in a current report on Form 8-K under the Securities Exchange Act of 1934 by
so stating and giving the date on which the Form 8-K was filed.
SEC's Collection of information
An agency may not conduct or sponsor, and a person is
not required to respond to,
a collection of information unless it displays a currently
valid control number.
Section 54( c) of the Investment Company Act of 1940
("1940 Act") provides that
companies, which have notified the Commission of their
election to be regulated as
business development companies under the 1940 Act, may
withdraw their election
by filing a notice of withdrawal of election with the
Commission. Section 54(c) also
authorizes the Commission to prescribe a form for
purposes of this notice of
withdrawal of election. Pursuant to that authority, the Commission
adopted Form N-54C,
the filing of which is mandatory by companies that wish to withdraw
their election to
be regulated as business development companies under the 1940
Act. The
Commission adopted Form N-54C to provide a uniform
notification system of
withdrawals of election. The information collected on
Form N-54C is publicly
available. Any member of the public may direct to the
Commission any comments
concerning the accuracy of the burden estimate of this
Form and any suggestions for
reducing the burden of the Form. This collection of
information has been
reviewed by the Office of Management and Budget in accordance with the
clearance requirements of 44 U.S.C. ? 3507.
54c out
add - I'm glad I wasn't trying to sell something in a hurry not knowing that my orders weren't being passed through even though no error message appeared! Nightmare City!
it's not. But often times traders are looking for new brokers so I thought I'd bring it up - that's how I found out about it from Wayne R on TGL. I also wanted to warn other IB clients about the bug in case they hadn't already found it.
Added 35K to my pile at .017 at 14:56:06. As it turns out, earlier the reason my buys at .018 and .0175 weren't going through wasn't that the MMs were still at lunch, but that the latest version of Interactive Broker's Trader WorkStation wasn't routing pink sheet orders through. I had to go back to the previous version of TWS while they fix the bug. I'm glad I found this out when I did and also glad that I saved .001 per share because of IB's bug! Btw, I'm very happy with IB in general. This is the first time I've encountered a bug and the commission on my buy was only $2.98! On sub-penny stocks the commissions are often $1.
I agree, too. 200MM is nothing compared to some of the others. And no R/S is sweet.
thanks.
where'd you find this? It doesn't show up on nqb.com .
ok - they sure don't want to sell any at .018, or even .0175
that wasn't me at .018. come one, give em to me!
MMs must still be at lunch. LOL
GLTY
very slow fill at .018 - ain't happened yet
4 on the bid at .0165, only one on ask at .017. All right!
I REALLY like the part about a merger
Yep, BRGE is playing today - he just upped the bid and raised his ask. Very bullish
I just noticed that BRGE is on the inside bid - always a good sign for SLON. BRGE likes to play SLON, so watch him carefully.
Thank you, Bloomfield! As I said in my last post, maybe today will be different. Whenever Bloomfield speaks, its people listen!
Thanks - what does the "V" stand for? I notice that in alphatrade NAAC_V gives the bid and ask lineup but not the Time and sales, and NAAC gives the opposite. Weird
I'm not watching closely today but in the past I've seen SLON move on air because the MMs like to pull the carrot away each time a buyer nibbles, especially on low volume. When the buying's over they guide it back down again. Maybe today will be different, I don't know. I do hope that the insider selling is over for now and that when OTCBB news and/or ad revenue news and/or the new website and webisodes hit, we'll see another nice run like the one to .065.
Btw, I think that Steve's webisode plans are an excellent way to differentiate SC from the others, including the new LA mag Genlux. I went to Genlux's party on Tuesday night featuring Mary J. Blige and it is a very impressive mag, but I think SC's potential for an international audience of young women is greater.
LOGI gapping up on yesterday's news
Yes, but that filing from 2005 doesn't tell us that Citadel still owns the shares. I'll keep watching for new activity.
The way I understand it, insiders are not required to file share sales on Pink Sheet stocks so it's impossible to know whether they still hold these shares or not.
How do we know that they're still holding these shares? I'm not being combative, I'm just curious.
Most of these filings are quite old. Do you have any indication that something is brewing currently?
I agree and am glad to know that a person with your experience with this kind of venture thinks that patience will pay off for WNSH.
Yep.
I totally agree. Let Frank and Zhemian do their work.
Thank you, HDSN!
me, too
CNTF going crazy in pre-market
It looks like good things are on the way.