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RPT I have reread that statement several times and others have said since TS owns 80% with his E's he need not hold a meeting just vote his % and its done. But this phrase keeps haunting me
the Company shall call and hold a special meeting of the
shareholders within thirty (30) days of such occurrence
since they say shareholders not majority shareholders I would assume (hate that word) all shareholders would be given the right to vote whether they own 1 share or 1B even if their vote doesn't matter given TS's %. To specifically state or use the word shareholders and then not give all shareholders the chance to vote would go against the verbiage they used in the clause.
Maybe someone with some legal background could explain how this could state one thing and then only allow 1 shareholder and no actual meeting. TS would probably not show in person out of fear anyway but it would be an interesting meeting for who ever he sent. I could picture state police in the room as guards for individual running the meeting.
We were able to gather an insight to movements, will be heading back in another 2 weeks unless there is a major change to the ugly side before that. Everyone is a creature of habit to some degree the issue is finding that particular degree and making note of it. Didn't want a confrontation as of yet willing to wait a little longer but the facts we wanted are noted for the next trip
Someone posted a snippet yesterday from an SEC filing which mentioned that a shareholder meeting would be required with votes from shareholders to raise the AS. Can someone find that post. TIA
Haven't had any luck locating our ghost CEO still looking. If it wasn't for the fact that TS needs to feed the pigs holding the stupid CD's we would be a lot higher but KK and Mrs KK (AKA knee pads) need to live high off the hog without really working. They probably need some spending money to hang out with the other rich silverspoon crowd they run with. Can't wait for the day I run into them I will make their aquaintance the old fashion way reserved for those who steal from the working class.
Well have to drop off limited access time while away. I do know there better not be an R\S or increase in AU before TS uses the majority of his E's. Hell has no fury like and invester stolen from.
whats up Viva I see I haven't missed much since being off-line out of communication
LB, Lucky, Viva, RPT and the rest of you hold the IHUB fort for the several weeks I will be without access while wandering around on a mission,
I feel if TS had real good news he would have PR'd it by now, and since IR has only answered 1 e-mail of late they are now Casper 2.
I have finally lost all fate in TS and believe he is just motivated by greed after being tudered by KK and the bimbo.
Hate to think of the embarassment his kids will have to deal with especially when he is called out while in their presence.
As far as his sister she will just claim ignorance of the fact when the crap hits the fan.
He has no idea who he has screwed and the actions that will be taken, people just don't loose serious money and walk away feeling ah shucks, I hear the bagpipes playing the old familiar tune TS and their playing it for you.
Eye for an eye tooth for a tooth,
see you all when I get back as I want answers not silence as I don't give a rat's A$$ about YA, KK, the bimbo I want to know what we paid so much for when we bought the shell.
to bad he won't enjoy it if he has screwed retail
Well TS had better remain secluded rather then attend public events until he deals an upright hand to the commoners he used to pay KK's debt, and fund YA's greed. There are some just watching for his appearence at public events so as to confront him with shareholders concerns.
There are some I see starting to pursue him via legal channels I for one have no faith in the legal system when it comes to the SEc but would rather take the other avenue of justice.
AP I admire your firm stance of support but when I look at my account and what TS and his dilution have done to it while all along not costing him a red cent I can't be so positive as you with his actions.
Time for him to take one for the commoners or else. He can't hide for ever from public appearences.
why would he do that when all he has to do is increase the AS and convert his E's and vote them to go private at todays price, you would be forced to go along and like me it would be a huge loss and the gain would be his.
Your right about the 15 bagger for those fortune enough to buy now but the ones who bought when TS was talking to retail have a longer way to go. His Casper motives along with KK's wife, KK and YA's greed has pushed this below the realm of those that supported Casper in the begining. I'll bet TS stayed away from the grand opening for fear of some pi$$ed off retail holders confronting him. How much did KK and knee pads make off of retail. If you don't understand the phrase kneepads ask KK or anyone that new it when it was somewhat younger and playing the field.
Anyway I still wait on Casper making it right by retail and not for a losey nickel either. He worked with YA so they could make millions now its retails turn or will he still remain hidden in the closet. Bet he answers any calls from the YA pigs or KK
I believe he is making the sequel to Casper for Disney
will give it a shot from my home pc tonight
Lucky PM me your questions you are trying to get answers for I will include them with mine and see if I can spark a response from either TS or IR, if I get answers I will post as I have other times
RPT when TS converted his 322 million commons which according to the e-mail I got from IR cost him roughly 3M which cost him a rounded average of 0.00931677 per share, if this is correct and I could be wrong then his preferrs today are worth how much
Thats a bigger dream then me getting a chance to play in the pro-am at next years Masters
Travel I will provide TS by e-mail my direct phone # today in order to establish a legit shareholder concern communication. Since I feel I am neither a pumper or basher but a highly concerned shareholder I feel if he does call back and I report our converstaion it would be neither seen as a pump or bash attempt because of my previous posts being as they are.
Besides the dilution of late and the shareprice drop I for one am not happy with TS's total silence towards retail who happened to have paid for everything he currently is CEO of. Either he is well tudered by KK or has lost total insight into who he owes what to. If not for retail he would not have paid for the shell that is now SWVC. I realize from the reply I recieved that he put X amount of $ into this as did his family but it is nowhere near the amount that retail paid to get rid of KK's stupid debt. I still say TS needs to address outstanding questions which directly effect retails holdings. If he is that arrogant that he feels he doesn't owe them any explanation then he better come down off his self imposed pedestil because he owes us not the jerks he borrowed from. Come out of the closet TS and see the light its time to address the real shareholders the ones who supplied the money for what you wanted not the ones that sold you their companies for preferred shares. You sure as hell didn't remain silent when you needed retails money.
What did you get for the millions we paid YA and KK for this shell? Speak up I can;t hear you. And while your at it fire the company you hired for IR since they as far as I can recall answered only 3 to 4 e-mails in the last 2 months, crap a 5 year old could do a better job for less then the cost you are paying them.
yes thnx
Someone posted a the terms and conditions of the outstanding CD's can someone repost
What times does the TA close?
right there with you
Chunk I love your ability to keep a sense of humor during the last several months better then me.
RPT maybe we should change the beginning which reads
Tom got the O/S down to 186 million to combat what he knew would be coming.
Originally there were issued and outstanding 78,250 shares of Series B Preferred Stock and 421,577,063 shares of Common Stock. Tom S. owned 322 million common stock which he converted to preferred B stock (final 100k shares) which reduced the common share count to 186 million shares at the time of conversion
to
Tom got the O/S down to 186 million to combat what he knew would be coming and to protect his shares from loosing significant value during the dilution that was coming while enabling himself to quadruple his shares when converted with the CEO friendly clause attached to the preferred"s..
Originally there were issued and outstanding 78,250 shares of Series B Preferred Stock and 421,577,063 shares of Common Stock. Tom S. owned 322 million common stock which he converted to preferred B stock (final 100k shares) which reduced the common share count to 186 million shares at the time of conversion
Peorge if you are referring to the reply I recieved from IR and posted it wasn't made up and I don't pump as my history will show in fact even though I hold a hefty sum of shares currently in the red I remain very critical of managements actions since it dropped from the .05 range.
Chunky if he was to PR's exceptionally good news I believe we would see it at the beginning of the week rather trhen at the end. But I have been wrong before so who knows.
Whens our next Q report due?
LB your guess is he bought something so needed more shares? Why not use some of the E's that are hanging over us?
I would think if he something good to say he would have PR'd it by now just worried he is clamming up for fear of pushing someone really over the edge.
That would most definitely be a poor choice on his part whether it is legal or not.
Just fired off an e-mail asking for an updated status (shareholder letter)on what I believe are deffinite outstanding issues which need to be addressed promptly. Of course I got the generic response but will give it some time.
The non addressing of the recent dilution and shareprice borders on sheer arrogance by management. How can TS PR heavy dilution has finished and then dilute so much after it.
Either he has something in the works or is trying to wrap up loose ends prior to a Cavasin.
For those of you that don't know what a Cavasin is visit the ACMG IHUB board and you will understand.
Glad I am not in TS's shoes since I would fear every stranger that was near me not knowing if said stranger was a disgruntled share holder with noting to loose unlike TS.
Today would be a good day for TS to come clean with the commoners and release a positive shareholder letter.
Another month and I will have held this for a year, should I have flipped back when it was above .05 yes, should I have not averaged up during that timeframe, yes
live and learn between WITM, ACMG and currently SWVC gave back quite a lot profit from the last 2 years.
IMHO TS needs to pay back the commoner as Lucky has stated but not just so they break even, he needs to cut his shares or use them to purchase something witch adds value and requires no new CD's especially with the leech YA. Heck I bet there are several longs here that would have gladly loaned TS the funds with the potential profit YA makes.
I really question the relationship between TS and YA only because of the info he may have had to release to them allowing them to capitalize even more so on their greedy dealings.
Good luck today folks and "May the Fleas of a thousand camels infest the crotches of all YA spouses"
NP need to drop off for awhile so hold the fort, my patince is way to thin at the moment especially since he hasn't returned Lucky's calls does make him look quite arrogant
When all else fails, take the law into your own hands & avoid the bureaucratic red tape & loop holes that obstruct\hinder our law enforcement agencies & legal system. Western justice: swift, cheap & final, no prison or trial costs just a rope or a bullet.
no problem waiting for TS to make it right by the commoners
float 1345318998
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Hey Kid maybe what TS needs is an old fashion A$$whoopin. If he thinks for one minute that he will get away with anything except supporting the commoner then he is in for a rude awakening. I know several that are just biding their time to take it to his face the way he is being with the common shareholder. If he has a good deal why not PR it thats right maybe YA won't let him. I say screw YA and their kneepad spouses. If any of them had an ounce of courage they wouldn't be the slimeball org they are. Seems most of them have a rep of being an outright dork. Come on YA take it to me lets see who comes out of the ring standing. Your money won't be any good when we get it on. Can't belive they even publish those pictures of themselves on their website. Remonds of the old saying "If I had a dog with a face like any of them I would shave his butt and make him walk backwards" Feel sorry for any of their children having parants like that. They must apologize every day to any friends they have.
Lets go TS hit us with the shareholder update for your sake it better be a good one for the commoners and screw the perferred holders.
Lucky there is paying his debts and then there is paying HIS debts. The 1st is what he thinks he owes us and the 2nd is what the commone shareholder feels he is owed for tying up money for a specific time.
Myself I want .10 for my shares at least since he is willing to allow YA and the other lenders to make large profits on their investments why not the commoner.
Would I sell at .10 most definitely at least 75% of my current holding to reinvest elsewhere. How long will I wait for him to pay me back gets shorter and shorter each day. A road trip is definitely in the cards just need to nail down some free time to find him and confront him.
In the meantime can't wait for the shareholder update to see what he has to say.
Anyone call the TA yet today?
AP if TS has the new CD's with a 1 year retricted for YA what do you feel is causing the latest dilution?
Viva here is what you asked for
XXXXXXXXXX,
Seaway Capital, Inc. acquired the public company, GSCR, for the
assumption of debt of around $1.8 million, but WiseBuys received cash
of
$1.5 million in return. (It was this cash that allowed it to acquire
Hackett's.) The net "cost" of the fully the reporting public company,
GSCR, was $1.8mm less $1.5mm or about $300k, which is about $400k below
market for such fully reporting public companies. If you are not
aware,
the going rate for such companies was about $700-$800k at the time of
the transaction. Management has no idea where a figure of $24 million
is coming from. Perhaps you can elaborate on this calculation.
The CEO receives a salary of $125k per year, plus the opportunity of
bonuses. Mr. Scozzafava's salary reported in the 2007 10K was the sum
of $10k in cash and a repayment of a loan of $250k, which was booked as
"salary." Furthermore, the $250,000 repayment by WiseBuys of the
personal loans of Mr. Scozzafava was transacted by WiseBuys in JANUARY
of 2007 .... around ten months prior to WiseBuys being merged into the
public company, Seaway Valley Capital Corporation. This loan would
have
been repaid regardless of whether or not WiseBuys ended up going
public. There is no way this repayment by WiseBuys of loans from Mr.
Scozzafava could be construed as "Seaway shareholder money" since it
was
repaid ten months before there were any "shareholders".
Mr. Scozzafava has personally invested into Seaway and WiseBuys over
$3
million of his money and his family has contributed an additional $1
million of their money. Other than the above mentioned $250k, neither
he nor his family have, to date, received any of those proceeds back.
None.
Sincerely,
Seaway Valley Capital Corporation
xxxxxxxxxx wrote:
> Does anyone actually work in the IR dept?
>
> Tom said heavy dilution would subside yet you continue to dilute?
>
> Prior to buying the shell Tom was very upfront and communicated with
> shareholder now that he has paid of kevins prior debt Tom has become
a
> recluse why?
>
> How much money is Tom going to allow YA to make almost seems like he
> may be getting kickbacks on their profits when coverting.
>
> What did we get for the overdebt shell we paid over 24 million for
and
> none of the money came out of Tom's pocket?
>
> If you continue to ignore my questions I will make a point to bump
> into you when you least expect it and you will answer my questions
> then as I am down over 70K because of Toms inept ability to run a
> company as he said he would and turn a profit yet he allowed his
> friend KK, his friends wife and his family to make millions at our
> expense.
Jim I found it ironic that they did reply to me that one time since I was sending an e-mail at least 3 times a week from home and several times from work. Think I hit a nerve when I suggested that the shell cost us 24M which I explained to them in a followup e-mail at how I arrived at that sum which was different from what they fealt the shell cost.
Jim Z hope you are not insinul=ating that I lied regarding the e-mail from IR.
I also apologize to all the other longs for being so balantly disgusted with my investment but it is how I feel I don't sugar coat my feeling regarding TS and the shareprice minipulation he has allowed.
I didn't expect to get rich overnight but I didn't expect to be down on paper 85% either while paying for YA, KK and kneepads extensive lavish lifestyles.
I hope those from YA, KK and the other minupulators can duck as fast as Cocco Crisp did last night because they will need reflexes like that when I bump into them.
Some will say it's not YA's fault thats what they do well I don't particularly care for people like that since they in my book are the reason this country is in the shape it is.