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Karney 2006 businessman of the year 2006 when he loses 99.9999999999999999999999999999999999999999999999999999999999%of PDSC stock value this year. If brains were gasoline, he wouldn't have enough to drive a miniaturized yugo car around the inside of a cheerio.
AF,
Are you going to call in on the next MN1.com interview and ask Karney about when will actual audited financials for PDSC come out instead of just PDSC projection "financials" released. Boy he would blow another gasket wouldn't he !!
It is not logical to believe there will be a share buyback when Karney was the one who escalated share count to pay for operations to begin with. With his stated contempt for the shareholder he will probably R/S then look for the next group of suckers he can entice with his PR machine.
AZTREEDOC,
How big would you estimete the building to be in square ft?
From the PR in June of 2005 they said it was 100,000 sq FT.
Produce Safety & Security International, Inc. (OTC: PSDC) (formerly (OTC: PDSS)) is pleased to announce the company has entered into a letter of intent for the purchase of a 100,000-plus-square-foot Facility in Prescott, Arizona. The company has submitted an offer for the purchase of the 100,000-square-foot facility.
0.001 5000000 OTO 15:16:57
Somebody forgot to put in three 000's instead of two.
SLJB released unaudited financials that were fraudelent numbers apparently. They claimed that two of the big accounting firms were working on the audited numbers but that was a lie.
Anybody have odds on whether PDSC will release financials on Feb 15th or ever. Or maybe they will release financials & be like what happened with SLJB.
I believe Karney in one of the interviews said they paid 200 million PDSC shares for Atomic-X. The price was $.08 at the time or a value of $16 million.
July 21, 2006 - 7:28 PM EST
Produce Safety and Security International Announces Acquisition of Atomic X Hydration Company
Produce Safety's Clarence W. Karney and Sam Perricone III, Chairman & CEO of Perricone Wileman Group LLC, Announce Acquisition of Atomic X(TM)
Produce Safety and Security International, Inc. (PINKSHEETS: PDSC), an ozone and chemical sanitation disinfectant process supplier to the food and medical industries, announces the acquisition of Atomic X(TM) Hydration Company ("AtomicX").
The companies have closed the first segment of a four-step process. AtomicX is now an owned subsidiary of Produce Safety and Security International and the agreement calls on AtomicX to become a fully owned subsidiary within a twelve-month period.
Atomic X specializes in the amalgamation of original ideas and proprietary formulas into unique energizing, refreshing and healthy products with broad mass appeal.
Currently, it is the leading non-carbonated beverage in the fast-growing energy drink segment of the non-alcoholic beverage industry. The absence of carbonation allows the drink's energy producing ingredients to work more effectively and eliminates the bloated feeling associated with carbonated beverages. With these differentiating characteristics, the management team believes this product line presents a better marketing position for rapid penetration and success against its competitors.
The Atomic X Energy regular and sugar free product lines are carried by 17 primary distributors in 13 states. These proprietary products are now available for consumer purchase and consumption in grocery, convenience and other retailers such as Kroger, AM/PM, 7-Eleven, Shell Oil, Food 4 Less, Mobil, Exxon, Sunoco and Circle K. The management team not only expects to penetrate all 50 states with its Atomic X product lines over the next 3 years but also the most lucrative international markets as well.
Clarence W. Karney, CEO of Produce Safety & Security International, stated, "Sam Perricone and his management team have done a fantastic job. Atomic X has a proven product line that is already producing revenues."
"The acquisition will improve operations for Atomic X, as well as provide PDSC a great opportunity to expand the food safe process into the energy drink industry and we plan on continued announcements, concerning Atomic X, including management bio's, revenue information and projections."
Until that recent 2.6 billon shares trade day they had held to a 900 million float 1.2 billion PDSC outstanding fully diluted. After that day then they said 5 billion outstanding. The question how did it get to be this high when after the reverse split PDSS pree release said A/S would be down to 27 million (which is obvious they never implemented). Read the last sentence below for info
June 27, 2005 - 7:01 AM EST
Produce Safety and Security International, Inc. Announces Letter of Intent to Purchase a 100,000 Sq/ft Facility in Arizona and Board Approval for Reduction of Authorized Shares
Produce Safety & Security International, Inc. (OTC: PSDC) (formerly (OTC: PDSS)) is pleased to announce the company has entered into a letter of intent for the purchase of a 100,000-plus-square-foot Facility in Prescott, Arizona. The company has submitted an offer for the purchase of the 100,000-square-foot facility.
Clarence W. Karney, CEO of Produce Safety & Security, states that this facility will house the company's Corporate Offices, Food Safe Risk Reduction Process, Reconditioning and Cross Docking Operation, Spherequat/Medic-Kleen Western Distribution, Biodegradable Fruit-Tray Operation, a Showroom for all products, Truck Sanitation Process, Food Brokerage Operation, GIS Inspection Operation, Home Unit Marketing, Food Safety & Risk Reduction Training and Food Safety Audits. This facility is expected to employ over 400 employees and efficiently provide service to the majority of the company's West Coast clients.
It is intended that PDSC will provide deliveries of PSSI/GSI Certified Product to their contract clients daily, and that this Facility will be the model for planned future distribution center openings which meet all the requirements of Food Safety and Risk Reduction Program.
The Board of Directors has also approved a reduction of authorized shares for the company. Authorized shares will be reduced from the current 12 billion shares authorized down to 27 million shares.
You have the God given right to be ignorant. I guess we have come to a consensus after all.
But he who does not remember the past is doomed to repeat it. My point is the cards are stacked against Ozone technology in particular to the big chemical companies that dominate their intended space. NOTHING PDSC can do to chang that. Good luck with your investment in PDSC & remember to say your nightly prayers.
You're half right. I'm a professional truth teller. Would you be an amature pumper by chance? You should go back & read the press releases last few years under PDSC, PDSS, FSIJ, & see if any of the revenue sources ever panned out. Ozone technology is REAL. However, NO Company has been able to get it implemented in U.S. (other than the water treatment industry) if any meaningful way. I go on record as stating that PDSC won't be that Company to break the glass ceiling to implement Ozone tech to the masses.
PDSC is doomed as they can't even get any pop in price when they recycle old or deceptive press releases. They can't sell product & everyone on payroll is just "dead" wood as fas as I am concerned. Karney certainly has the "midas" touch don't you think. I expect in the near future that SEC will investigate Company and stop trading for some time like CSHD, SLJB, CKYS.
Were we not told earlier that each distribution center would employ hundreds of people and have revenue in the tens of millions? 3 million a year revenue probably won't even cover the fixed costs of operations. More shares outstanding acknowledged when the 2.6 billion volume day & now a lot less revenue anticipated when distribution center opened. Next will be financials will be delayed (you can take that one to the back or at least revised when they initially come out).
S-8 by definition is used by issuers to compensate employees and some outside consultants with registered shares in lieu of cash. It is forbidden by the SEC to use an S-8 filing to raise capital in fact.
They are putting out the PRs to keep & attract new sucker shareholders to keep the Company cash flow going by issuing shares & blaming shorters, et all for their share price erosion. You know Karney will not update that Publix PR with the truth that their "first" payment is also their last payment & Publix will not pursue PDSC ozone technology at this time This is what occurred with PDSC, PDSS, FSIJ, over the last few years (different stock symbols same Company) Almost all of their PRs that mentioned other joint ventures or testing of ozone equipment all failed to materialize in actual orders.
I think he will keep PDSC on the pinks so as not to provide transparency to the shareholders. They already can increase AS , etc and anything thing else they want to do at his own discretion. Essentially while on the pinks he can treat PDSC as if it is a private Company.
I believe that Karney is working hard to get ozone contracts but it has been total futility in getting any real traction. Ozone has only really had any inroads in the U.S. with water treatmwent plants. Europe is way ahead of the U.S. when it comes to other uses of ozonation uses. I also had high hopes for OZON which went under a few years ago & they had some really good technology & even partnered with Proctor & gamble.
I think the truth of the matter is when the did the 1000 for 1 reverse splt 18 months ago with 12 billion out (down to 12 million & 27 million authorized) they never relly changed the authorized as stated and we are probably on our way back to 10 billion + and at least a 500 times dilution in that 18 months timeframe with no end in sight.
I guess Karney had to come clean on the 900 million float & 1.2 billion outstanding when volume was 2.6 billion yesterday. He is still full of it when he claims to own 68% with the other insiders owning 25% for a total of 93% with only 7% other.
You're right. With Karney's great oratory skills I'm sure there will be interested shareholders in PDSC the millions after listening to him!!
There used to be 12 billion shares oustanding when Karney took over PDSS. When the reverse happed it was down to 12 million oustanding with 27 million authorized in June 2005. So the oustanding has ballooned from 12 million to current of 1.2 billion (per MN1.com interview) in last 18 months. A couple of hundred million was for stone capital & for the atomic-x acquistion.
Could the timing be any worse for PDSC's CNBC appearance on World business review on Feb 4th. That is the date of the Superbowl when anybody watching TV will be glued to the Superbowl pre-game festivities.
Char,
Interesting spin on potential 150% + dilution to shareholders. I didn't know that AAGH was subject to an imminent takeover at this time. Well it sure is nice to know they have their "posion pill" already in case they are about to be gobbled up. Thanks for the enlightening education on the matter.
I just posted yesterday on AAGH. I have 75,000 shares from $.065. Not looking for any more at current prices..but thanks for asking.
You forgot the potential 100 million shares (500,000 preferred shares at 1 preferred for 200 common shares) issued to Mak.
Employment Agreement. On August 18, 2006, the Company entered into an employment agreement with its President and CEO, Michael Mak, for an initial term of five years renewable for an additional five-year period unless proper notice if give by either party not to renew. Compensation includes (i) a base salary is $60,000 per year, (ii) a signing bonus of 2,000,000 shares of restricted common stock payable upon execution of the agreement, subject to certain other terms and conditions, and (iii) a stock award of 500,000 shares of the Company’s Series A Convertible Preferred Stock, convertible at 1 preferred share to 200 shares of common stock, payable upon execution of the agreement. Other terms and conditions apply as detailed in the Employment Agreement. (See Note 10)
As of the date of this filing, neither the common stock nor the preferred stock have been issued.
NOTE 10 - STOCKHOLDERS' EQUITY
Preferred stock authorized.
During the quarter ended September 30, 2006, the Company created a class of non-dilutable preferred stock, 500,000 shares of $0.001 par value preferred stock, designated as Series A Convertible Preferred Stock and filed a “Certificate of Designation” with the State of Nevada to establish the voting powers, designations, preferences, limitations, restrictions and relative rights of the Preferred Stock. Holders of the Series A Preferred Stock shall be entitled to receive dividends or other distributions with the holders of Common Stock on an as converted basis when, as, and when declared by the Directors of the Corporation. Each Series A Preferred Stock stockholder who desires to convert into the Corporation’s Common Stock must provide a ten (10) day written notice to the Corporation of its intent to convert one or more shares of Series A Preferred Stock into Common Stock at a conversion rate of 200 Common Stock Shares for every one (1) Series A Preferred Share. The Corporation may, in its sole discretion, wave the ten (10) day written notice requirement and allow for the immediate exercise to the right to convert. Holders of the Series A Preferred shall have the right to vote upon any matter submitted to the stockholders for a vote pursuant to the Certificate of Designation of the Rights and Preferences of the Seres A Convertible Preferred Stock. Refer to Form 8-K filed with the Commission on October 27, 2006 for further information
Launch for "....millionaire" is going to be around May 1st according to last PR.
Latest PR gives the impression PDSC had some "dead wood" on the Company's payroll. You have to wonder if they will ever release revenue, earnings figures, etc. This could turn out out be another SLJB. After their JUNE 2005 reverse split there was only 12 million shares outstanding (12 billion to 12 million) Now there is at least 1.2 billion according to Karney in MN1.com interview. 100X share increase in last 18 months. I'm not really sure even if Karney had an audience of 100 million viewers with that upcoming interview that many of them would invest in PDSC as he is a terrible communicator. it sure enough will pop sometime but will it hold any of its gains. karney certainlt has the "midas" touch when it comes to returning hareholder value.
Little did I know how ironic my statement was. Seems like two stocks that are "birds of a feather".
PDSC on fire...I mean literally...anybody ha
ve any fire retardent?
I can't find the second part of the most recent MN1.com interview on their website...Is it hiding somewhere there?
100 billion....NO I got that mixed up from the Austin Power's movie by mistake. Authorized is supposedly 8 billion, but after last R/S in June 2005 it supposedly when down to 27 million. So, no one really knows until Karney releases his figures in 2011..LOL
www.mn1.com for the PDSC interviews last few months (second part of most recent interview not available yet)
When Karney gives his passionate speech on food safety issues & his plan to solve them before Congressional oversight committee the sales will start to roll in like an avalanche...Can't wait maybe take him 3 weeks to write his thesis paper on food safety problems I figure.
All those nasty short sellers screwing over Karney... I heard rumor Karney is on page 13 of his 350 page report on food safety to be sent to washington.
Really? I think Karney only produces "shareholder value" for anybody that "invests" in PDSC..don't you?
Yep, keep buying pump is just around the corner...!
Karney...Brain permanently in power saving mode.
Actually, Karney has a titanic intellect...in a world full of icebergs.
Karney certainly has the "Midas" touch doesn't he shareholders...When is the pump supposed to start before or after the R/S?