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Not many folks get a gallon jug to drink from unless they intend to fill it. The 500M authorized capital was left for a reason?
It's poison alright they can issue another 300+ million shares for $150,000. A little better deal than you got. Since someone put up $250,000 for no consideration to date I have to assume this is the formula they will use to convert their debt to equity. Be well and good luck.
They are voting/convertible shares. 100M "common" shares would cost you $50,000 today.
A. The shares of Series A shall convert into the number of shares of the Common Stock equal to the number of shares of Series A issued to the holder thereof, multiplied by ten (10) and divided by the lesser of four cents ($.04) or the average of the closing bid price of the Corporation’s Common Stock on the date of conversion of the Series A (the “A Conversion Shares”).
Good luck all be well.
I don't know this Graham person but watching his work doesn't impress me. I do know Jim and the some of the Reimers from my days of working with T.I.P. and leasing them trailers.
That's for a clean issuer NOT for one that has been red flagged. I can't imagine what would happen if the Pink Sheets compliance get negative feedback since this is ALSO a reporting issuer that has NOT complied for years. I guess the next step would be delisting to the Grey market.
They key words are..."Pink Sheets is satisfied"! That gives them the legal clout to NEVER quote a security if they so desire. Not as easy as one says even if you call Larry, Mo, Curly or Allen!
How Does A Company Get Out of This Category?
A company may be removed from this category once it meets the qualifications for the Current Information category and Pink Sheets is satisfied that there is no longer a public interest concern. In order to make this determination, Pink Sheets may require the issuer to provide additional information.
Even a blind man could see this coming they want this dirty shell gone and if these guys aren't on top of their game it will be...This was suggested while it it was still quoted on Pink Sheets...Posted by: The_radman
In reply to: None Date:2/5/2008 9:41:45 PM
Post #of 65243
I know this new crew is busy dealing with everyone elses screw ups (i'll call my friends @ Pacific and get the scoop) but can they take a whole 10 minutes to update pink sheets "company info"...http://www.pinksheets.com/pink/quote/quote.jsp?symbol=ccaj
Easier said then done. I was offered control of a Pinkie today for $100K after my DD I called some folks at Pink Sheets and they warned me of its skull and crossbones classification. The odds are few to none that this will be cleaned up ever let alone soon. This shell is NOW classified as the lowest of the low of the industry.
Moo these are the simple steps how can we expect them to handle the larger ones. They have a failing grade thus far.
Jeff can't you have to be an officer or director and it won't be easy this is the worse rating you could achieve.
I'm sorry I don't understand your question but if you mean did Pink Sheets contact the company...no they don't do that it's the issuers responsibility.
The company's been black listed for not updating pink sheets. I just posted the other day they had better take 10 minutes to update their information but they know better. It will take a LOT of effort to get this cleared up and they better have some contacts at Pink Sheets!
OT: Yup and another gigantic hole in the O-zone.
Got 2.85M put up a real bid @.017 and it's yours. The only problem is it will be a while if ever before it reaches that price. No business...weak management...dirty shell...no interest...period!
You mean like you NEVER did this time? LOL
Posted by: contrarianindicator
In reply to: HUSTLA who wrote msg# 64476 Date:1/25/2008 11:30:48 AM
Post #of 65145
radman fwiw,in jb i trust...just transferred 10k more to my account which will clear monday or tuesday so ill take out all your .007 shares then..tia
A 144 filing is a sale of restricted shares. What are you talking about? You never make an ounce of sense or speak facts you just blah blah blah. Get a job!
OT:ROTFLMAO I pictured him skinny and weak with coke bottle glasses and a pocket protector. Looks like he's all excited meeting "D" Paul Graham for the 1st time.
The problem is he spent his pension check on sheep shears...baaa baaa.
OT:Well the latter part of your message is hucks bedroom.
OT:does that leave a foul taste in the back of your mouth since you're speaking from experience?
OT:if this new crew took their entire experience in Pubco's and converted it to fuel...they wouldn't have enough to ride a mini-bike around the inside of a Cheerio. I don't see them having much common sense eirther so I'm looking for a blip (which so many thought would happen on name change) and I'm out. This is a recipe for disaster. IMO
This poster has common sense no way its Otto! LOL
You're all welcome. Thank you for the kind note Jeff. Be well.
Helps to have a few friends at DTC *wink*.
Folks you have two choices re your shares. 1) have your Broker's back office call DTC to get your account updated with the NEW name and cusip number (send the info to them most are as useless as tits on a bull). 2) Have your Broker's back office send your certs in for physical exchange and delivery to Pacific Stock Transfer. The company should have made its shares DWAC capable in advance and that would have expedited this matter but poop happens. Hound them they don't like work! Good Luck.
Never heard of it if it went to zero it must be mine ALL my deals go to zero?
Call you Broker nothing gets done if one sits around hoping. It's an electronic process and everyone is waiting for the next person to do it. You're an experienced Director of a Pubco you should know the procedure.
Looks like the share disposition issue has been resolved! :)
I/O as of 10 minutes ago...161,153,222 Retricted...17,495,898. There is NO problem with the TA this is an electronic transaction NOT a mandatory certificate delivery for exchange. The problem lies with DTC and of course the companies not on top of it because it's all new to them and they have no industry contacts. I've got a call in to folks I know at DTC Reorg to make certain the right departments get the info out electronically. The key is the cusip and normally this is a max 48 hour transaction.
I know this new crew is busy dealing with everyone elses screw ups (i'll call my friends @ Pacific and get the scoop) but can they take a whole 10 minutes to update pink sheets "company info"...http://www.pinksheets.com/pink/quote/quote.jsp?symbol=ccaj
Mine still have that skank EZ name and symbol. If they get on to DTC it can be cleared up this week it's all done electronically.
Judging by this group another 3 months.
It's great 1 and 2 year hold shares now are 6 months and one year...quicker dilution. LOL
LOL Paul if you knew only a fraction of how this business works. LMAO
P.S. As a Director did you ever file a form 3, 4 or 13D as required by the SEC as this company is still a reporting issuer? Did any of the officers or directors?
It means the company isn't on top of DTC thus you can't sell your old EZTO shares under the premise that they are the new CCAJ shares. Good thing you can't this thing would be lower maybe.
A whole 2 pennies??? Golly gee that's a great performing stock!
I think since I'm a consultant in the business and I knew the Reimers including Jim years ago I'll call him on Monday and see if I can be of service. I'll lay out a professional approach that makes sense. Have a grand weekend all.
P.S. Unless they have something good then we might have to offer him an OTCBB with no baggage on an equity participation basis.
Going lower like I said before it goes up. The market only knows this as a dirty shell. Now it knows it as a renamed dirty shell, with unexperienced Pubco managers (over 2 months to get a cusip and symbol this takes 5 days with pro's)and a "proposed" busines direction. We all know the last few "proposed" business "ideas" never stuck. Why? 3 reasons...dirty shell...dirty shell...dirty shell. I'll bite my tongue on the other underlying reasons.