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I read the disclosure on the top of the page that MIMURRAY wrote, no pumpers and no bashers, it all also said stick to the issues which I thought I was doing. Doesnt anyone want to discuss the 10Q raw numbers? Seems to me that there are some tax experts out there, so there has to be financial experts. You mean to tell me there arent obvious questions? Im looking at the whole picture, I have questions about the whole picture. I thought that was this boards purpose was to discuss that.
I noticed alot of you are talking about taxes, taking losses etc. So I take it many of you are contemplating selling? Its obvious after the 10Q no one is buying.
I wished The CEO wouldnt of mentioned about pay down of debt. Because if you look at the financials closely the whole thing is very decieving. That PR should not of have posted, the only follow up should of been a major deal that all of the posters here are talking about.
Chitown I bet we go down but not alot. But I have to admit after reading the financials the picture isnt as rosy as what I thought it would be. I am going to look a little further but most of this paid down debt was converted into stock
Maybe the CEO can achieve his goals. The way I looked at the press release I suppose he is working on something. The quality of the deal I question, also the terms. If it is a restricted stock deal from what I have seen in the past the stock is offered at a substantial discount to the current value. So there maybe a bump in price at any announcment and when you read the fine print its back to reality
Goldman you are correct, this is a long term investment. I am ahead a little on this stock but for rebound action to where it was that probably wont happen any time soon. But Ill be patient.
Does nayone have any insight about what they feel what the potential deal could be and what type of new business venture it is? Even though it seems the revenue was a disappointment Dave still insists on a 1-5 million dollar revenue goal for this year. I personally don't see how it can be done without major dillution. The way I look at it if the deal is worth talking about what does Scale Cars have to offer that another company with assets doesn't?
My opinion is that he shouldnt of compared the old business to the new. See how this stock reacts Monday. I don't see any big up-side or down side. I can tell given the silence on this board alot of people are disappointed. Hopefully better days ahead. It will take time
I don't think it will move the stock. I also don't see a major sell off. I am skeptical about the quality of any major announcements. But other than that, Ill try to stay up beat
Mimurray. Management is held to a different standard than a Contractor. I bet there are holders of this stock based insider purchases as a factor in their decision to invest in this company, I know I did. In that regard I feel I was mis-lead. Time for work. I am hopeful the rally continues
Mac This will be my last comment on this and my personal feelings. Besides the debt that shouldnt of been carried over. I get the impression the CEO knew it would be hard to ever get this money back so he took the next best deal and converted the debt into stock. If I get bashed for it thats fine. Atleast I get it off my chest.
Scalecarfan there is a difference. But its my opinion, I look at it as a debt that should have never been carried over. Im done discussing this, that still bothers me but I know how the CEO stands
Yes I had to read it twice Colorado. After reading it and comprehending the information it is true that all the old debt from Ten Stix was converted into stock, and not true insider purchases. But I can live with it.
I really liked that heated confrontation, and free publicity, you can't beat that. The CEO maybe should of been a little less confrontational with clarifacations on spelling "through" and "thorough" we knew what that poster ICN meant. I enjoyed the letter, thank you ICN6000 and David
Kajun I respect your opinion, I think its good to debate from what I can see on all the posts on here or Raging Bull that those questions have not been answered. I did notice you said that Dave is buying something with substantial revenue, anyone know what the anticipated profits are from that revenue down the road?
Good luck to all investors, and hoping to make some more cash on this stock today
Good morning to all, hope the run continues. I thank everyone for their input. I have a few more questions that I didn't know if any out there could answer. I noticed from the Press Release last week that Daves wife has been appointed Chief Operating Officer. Someone mentioned that Dave said that she will not be paid until there is cash flow. Does anyone know what revenue goal that would be and what will be her salary be at that point?
Would that type of information be listed on the quarterly report?
Have a great day everyone and good fortune
Hey Rhino, what do you mean I spend all day on this I-Hub board? Look buddy I work from 10-8, my employer tracks any call I make. I simply don't have the time. I love the Scale cars web site after buying my Ferrari On E-Bay I noticed it.
I have 2 questions I would like to ask. Is the Web designer also the marketing manager? his name is Mark, anybody know his backround he seems very very sharp if that is the man.
Also with Dave, anybody knows what he did prior to the old Ten Six? I don't have time to research and talk to him.
Thanks and a great run today, never made money so quickly hopefully it continues
Wel I wish I had the chance to discuss this all day with you but I got to go to work. I did do some DD on Brehm and his company BUGS looks like its on its last legs, and what I am wondering is what BS did he throw at you when you spoke to him to show confidence, did he say hang in there its going to get better? Also why should the Motor Sports Emporium Business have the obligation to pay off a company that is involved with a Bankrupt Card Shuffler Company? none of it makes sense. Ill try to stay positive but this has got to be the strangest set of circumstances.
I have no time to talk to a CEO. This company has serious credibility issues. The Management team must know how the investors feel. They need to address those concerns in public. I am having trouble posting on Raging Bull, I wanted to thank some of the posters. Good luck to all investors here, this looks more like a cheer leading group, rather than anyone offering a serious discussion. Good luck to all investors of this company.
Mimurray thank you so much for your response, I respect your view, I do, but Im still not comfortable about this way of doing business, the whole thing seems shady. I have read alot of posts on Raging Bull and there seem to be posters on that board that seem to share the same concerns I have. Anyway good night and again thanks
Execution This is from the 10Q from November. I still can't understand this, the CEO of the new Motor Sports Emporium is paid for services performed from the bankrupt Ten Six, so the new company he heads gets stuck with the bill? Am I reading this right, I think this is Bull Crap
On September 16, 2004, the Company executed a Letter of Understanding and Reinstatement Agreement with David Keaveney ("Keaveney"). The Agreement calls for Keaveney to receive a total of $56,352 from services Keaveney performed from February 9, 2004 until September 15, 2004.
On September 25, 2004 David Keaveney was appointed director, President, CEO and CFO of the corporation.
On September 26, 2004 both Tony A Cranford and Thomas E. Sawyer resigned as officers and directors of the corporation.
On September 27, 2004 David Keaveney acknowledged his acceptance to office as the Company's director, President, CEO and CFO. David Keaveney also established a new business address for the Company in the state of Arizona.
On September 27, 2004 the Company entered into a Promissory Note with its previous auditing firm AJ Robbins, Pc for the principal amount of $16,693, with no interest. The balance is an overdue accounting bill for services performed during their tenure. Six equal payments of $2,782 shall be due and payable on the 30th day of each calendar month, with the first payment commencing on October 30, 2004 and final payment on March 30, 2005.
Subsequent to the period covered by this report, on October 13, 2004 Rhonda Keaveney, wife of President, CEO and CFO-David Keaveney, was appointed director and Secretary of the Company.
Subsequent to the period covered by this report, on October 18, 2004, the board of directors granted David Keaveney, the company's President & CEO an option to convert his unpaid balance of $56,352 into common stock. The number of common shares to be issued shall be determined by dividing the unpaid balance by 20% of the closing bid price.
Subsequent to the period covered by this report, on October 25, 2004 the Company entered into an Executive Employment Agreement with its President, CEO and CFO, David Keaveney ("Keaveney"). The initial term of the Agreement commenced on October 25, 2004 and it shall continue in effect until October 25, 2005. Thereafter, the Agreement shall be renewed upon the mutual agreement of Keaveney and the Company. The Agreement grants Keaveney a base salary of $114,000 per year. During the term of the Agreement, Company agrees to pay all costs of Keaveney's medical/dental expenses up to a maximum of $20,000 per year. Company shall also provide an automobile allowance of $1,000 per month. Company shall pay a monthly rent of $2,000 while it maintains its headquarters at Keaveney's place of residency. Not withstanding the one year employment term, the Agreement may be terminated by either party. If the Company desires to terminate the Agreement for any reason, other than reasonable cause or event of permanent disability, Keaveney shall be entitled to 100% of the balance of payments due under the contract payable, at the Company's option, either on a bi-weekly basis or in a lump sum discounted by 10% and payable 30 days after said termination.
Subsequent to the period covered by this report, on November 4, 2004 the Company's President & CEO David Keaveney exercised his right to convert $2,280 (part of a $56,352 debt into 1,500,000 shares of restricted common stock. The remaining outstanding balance was reduced accordingly to $54,072.
Subsequent to the period covered by this report, on November 16, 2004 the Company's President & CEO David Keaveney exercised his right to convert $3,000 (part of a $54,072 debt into 1,000,000 shares of restricted common stock. The remaining outstanding balance was reduced accordingly to $51,072.
PLAN OF OPERATION
Execution you seem knowledgeable, please tell me what you think about the money that is owed to the CEO, what isnt this written off from the Bankrupt Card Shuffler Company?
I am new to this stock. I bought a small position. I was looking at some posts on Raging bull, can anyone explain the Company President and his relationship with the previous company? from what I can read is that the now CEO of Motor Sports Emporium worked for a few months at the Ted Six Company and he is owed about $51,000? Why would he be owed this money if its a new company and the Ten Six company looks like its Bankrupt ? Am I reading this right? This whole story seems odd and needs a complete explanation. I hope one of the posters can help. I bought this stock because of the excellent experience I had on E-Bay. Good luck to all investors. Right now I am concerned and I hope you can put me at ease