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SMMW - being waiting for over a year for it to reach 0.0002 so I dump it and get my $$$+commision back. So many PRs that say and do nothing
Form 10QSB for ARETE INDUSTRIES INC
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16-Nov-2006
Quarterly Report
Item 2-Management's Discussion and Analysis/Plan of Operation
The Company has identified the accounting policies described below as critical to its business operations and the understanding of the Company's results of operations. The impact and any associated risks related to these policies on the Company's business operations is discussed throughout this section where such policies affect the Company's reported and expected financial results. The preparation of this Report requires the Company to make estimates and assumptions that affect the reported amount of assets and liabilities of the Company, revenues and expenses of the Company during the reporting period and contingent assets and liabilities as of the date of the Company's financial statements. There can be no assurance that the actual results will not differ from those estimates.
Stock issuances:
The Company has relied upon the issuance of shares of its common and preferred stock, and options to purchase its common stock and preferred stock to fund much of the Company's operations. The following describes the methods used to record various stock related transactions.
Stock issued for services is valued at the market price of the Company's stock at the date of grant.
Compensation related to the issuance of stock options to employees and directors is recorded at the intrinsic value of the options, which is the market price of the Company's common stock less the exercise price of the option at the measurement date. The Company's common stock issued to consultants is recorded at the market price of the Company's common stock at the measurement date. The Company's common stock options issued to consultants are recorded at the fair value of the Company's options computed using the Black-Scholes Model.
Plan of Operation.
In the third quarter of 2003 we discontinued our previous business development activities to focus on traditional and alternative energy. As a result, we entered the development stage. This required us to recast our former operations as discontinued, write down certain fixed assets and inventory from discontinued operations, and, as well, recast operating results into discontinued operations and continuing operations, respectively, beginning August 1, 2003 and continuing through the current period. As a result, operating results, including losses, expenses and revenues attributed to discontinued operations are stated separately from these same items from continuing operations. Therefore, since the current and past business operations relate to entirely different businesses, the financial statements now provide two separate comparisons of the current and comparable prior period for continuing operations, and the same for discontinued operations.
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During the Third Quarter of 2003, we began to pursue acquiring direct participations in traditional oil and gas projects as well as sponsoring and financing alternative and renewable energy projects. This included pursuing lower-risk projects involving overlooked and by-passed reserves of domestic oil and gas, and seeking funding through professional equity funds looking specifically for such opportunities. Since inception of our new development stage, we have reviewed numerous prospects and pursued funding and acquisition efforts for two specific deals through an oil and gas investment banking consultant which we contracted in June of 2004. Ultimately, the first deal was terminated without cause by the seller of that project in April of 2004, and after significant evaluation and due diligence on our part, the second group of prospects initiated in May of 2004 did not qualify for financing, and in the first quarter of 2005, we terminated our negotiations with the seller group for this prospect. We were able to develop and small oil & gas operation in Arete's subsidiary Colorado Oil & Gas, Inc. In September Arete's spun-off 95% of its ownership of Colorado Oil & Gas, Inc. in the form of a dividend of one share of Colorado Oil & Gas, Inc. for every two hundred and fifty shares of Arete shares owned on the record date.
Arete Energy Development Group LTD was originally formed as a Colorado corporation on April 29, 2004 as a subsidiary of Arete Industries, Inc. for the purpose of pursuing a joint venture in oil and gas. The joint venture opportunity for Arete Energy Development Group LTD was abandoned with no further activity occurring in Arete Energy Development Group Ltd. as we were unable to develop the business or raise the funds needed to enter into a business plan that made sense. The name was changed to Avatar Energy Development Group, LTD. in September 2004 in anticipation of developing an alternative energy business. The corporation remained dormant until late 2005. The board decided to change the direction of Avatar Energy Development Group, LTD to pursue a technology related business which was consistent with the expertise of one of the current directors. The board approved a name change to Avatar Technology Group, Inc. The main business focus for Avatar Technology Group is the delivery of technology solutions for small to medium size businesses as well as public entities. These solutions include business services, custom software development and web design, network security services and IT solutions. Avatar has secured reseller/affiliate agreements with major partners in each area to deliver these services primarily through a website model. Avatar Technology Group maintains a website at www.avtekgroup.com. Avatar plans to market these services to specific vertical markets using advertising in print media and targeted opt in email campaigns. Most of the services are based on a recurring revenue model. All of the technology solution offerings were selected to be complimentary to each other. Arete's shares in Avatar Technology Group, Inc. are going to be paid out as a dividend to shareholders of record. The record date was set for July 3, 2006. These shares will be distributed to shareholders at a rate of 1 share of Avatar for each 950 shares of Arete shares owned. The Company expects to file a form 14C and distribute the shares in December 2006.
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Arete as part of its new business plan developed in mid 2005 has began the process of pursuing a merger candidate for the parent company Arête Industries, Inc. as soon as possible. To make a merger an alternative for the future of Arete and its shareholders we have begun the task of settling old liabilities including the payroll taxes, wages and other related payroll liabilities. The ownership of and the future of Aggression Sports, Inc. and its related liabilities have added to the process. We are pursuing a merger or active business for Aggression Sports, Inc. and have to be able to settle their debt as part of the process.
Due to the fact that the Company presently relies exclusively upon contributions of time and operating cash from its directors and officers to pursue its business plan, this has been increasingly taxing on these individuals, and has resulted in substantial dilution to the Company's shareholders. It has become the chief priority of management to achieve cash flow sufficient to cover our overhead as soon as possible an we will continue our efforts to compromise or resolve outstanding obligations including accrued employee compensation, withholding and other taxes, operating and trade payables of the Company and its former subsidiary operations.
In the first quarter of 2006 we have begun identifying possible merger candidates and have begun discussions on a merger with more than one company. We have asked the merger candidates for a non refundable amount of $25,000 and received a non-refundable deposit in May 2006. The main requirement for a merger to take place will be the resolution of all remaining debt that the company has outstanding that would allow for a merger candidate to accept a proposal of debt liquidation and allow us to move forward with a merger. As a part of the plan we now have in place we have the following four part plan to take care of the old debt and taxes, develop revenue, and place sufficient assets in the business to make it scalable and add value to the shareholders. We have received an offer to begin the process of financing the existing debt through the issuance of a convertible debt that would allow for the pay-off of the taxes and old payables. We borrowed $400,000 in debt from a third party and a director to provide capital to acquire a gas distribution pipeline that we closed on the acquisition agreement for $330,000 with PRB Energy Inc. on September 12, 2006. We have a letter of intent to acquire two working interests of oil & gas properties owned by our merger candidate. The purpose of the acquisition of the working interests and pipeline is to provide cash flow for the convertible debt and set-up the operations needed to allow for the acquisition of the balance of the merger candidates properties that include oil and gas properties in Montana, Wyoming, Colorado, Kansas, and Oklahoma. These properties include PUD's and off-set opportunities with most of the leases. The plan also includes financing for the drilling of these opportunities and development of the sites.
While we are very optimistic about our progress on this plan to benefit the shareholders of this company there are no assurances that we can resolve all of our debt obligations meet remaining expenses gain any significant revenue for operations in the immediate future. We received a commitment to finance the debt, pipeline and working interests. These commitments are from outside parties as well as related parties and are more likely then not to happen. We are by working out the debt issues and creating cash flow able to move to a final definitive agreement on the oil and properties during the forth quarter 2006.
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Financial Condition
In prior periods, we wrote off Aggression Sports, Inc.'s fixed assets and inventory and molds held for disposal from discontinued. Additionally, we continue to reduce certain amounts payable from discontinued operations as extinguishment of debt, through the passage of statutes of limitation and settlements. We expect future additional write-downs and reclassifications from discontinued operations and extinguishment of debt to be nominal and incremental in nature.
As of September 30, 2005, the Company had $343,391 in total assets. This compares to total assets of $5,149 as of the fiscal year ended December 31, 2005. Total liabilities were $766,771, of which $400,000 is new debt directly related to the oil & gas business, as of September 30, 2006 compared to $891,383 as of the fiscal year ended December 31, 2005. During the nine months ended September 30, 2006, total liabilities were decreased by $524,612 before the acquisition debt. Net income was $201,175 reducing the accumulated deficit as of September 30, 2006 to $12,935,821 as compared to an accumulated deficit as of December 31, 2005 of $13,126,389. (See: Note 1 to Financial Statements.)
During the quarter ended September 30, 2006, the Company continued to rely upon infusions of cash borrowing from directors, exercise of stock options by officers, directors and consultants, and upon payment of compensation to officers, directors and consultants in the form of common stock and common stock options. During the nine months ended September 30, 2006, the Company paid $68,000 in compensation to officers and directors, paid $45,650 to consultants and professionals.
As of September 30, 2006, executive salaries and bonuses to former officers of $128,136 were accrued and unpaid, and the Company had $60,334 in notes receivable for stock sales from former management members together with a note receivable for exercise of a stock option of $4,000 from a third party for a total of $64,334. This amount was reduced by the off-setting amounts owned by certain former officers and we will pursue the balances as a part of the settlement of the outstanding debt.
Results of operations
As stated above, the Company discontinued former operations and set about pursuing a new business plan in the energy industry as a development stage entity and reported results of continuing operations and of discontinued operations separately for the current period and the comparable period of fiscal 2005.
The Company had $28,000 revenues from operations during the nine months ended September 30, 2006, and $72,500 revenues during the comparable period ended September 30, 2005. Net loss from continuing operations for the nine months ended September 30, 2006 was $152,709 as compared to a net loss from continuing operations of $212,943 for the nine months ended September 30, 2005. The net income during the nine months ended September 30, 2006 included $346,276 in extinguishment of debt. Net loss from continuing operations for the quarter ended September 30, 2006 was $58,562 as compared to a net income from continuing operations of $19,012 for the quarter ended September 30, 2005. The net loss during the quarter ended September 30, 2006 included $6,105 in extinguishment of debt.
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The Company rents space for file storage, furniture and excess equipment for $125 per month. The Company uses office space provided by one of the directors and pays no rent.
As stated above, we will continue to operate the Company on an austere program of minimum overhead, while utilizing skills of its board members, independent contractors as administrative staff and individual independent contractors with expertise in business development, capital acquisition, corporate visibility, oil and gas development, geology and operations with the use of our common stock and common stock options as incentives during the development stage of our new business model. Further as opportunities for participation in profitable revenue producing projects come forward, we intend that consultants and advisors will be offered compensation from revenues or interests, direct participations, royalties or other incentives from the specific projects to which they contribute. While reducing the amount of variable costs, there is almost no way to reduce or offset our fixed expenses related to office expense, legal, accounting, transfer agent fees, Securities Act reporting, corporate governance, and shareholder communications. Our future expectation is that monthly operating expenses will remain as low as possible until new opportunities are initiated, of which there can be no assurance, in which event, the operating costs of the Company may increase relative to the need for administrative and executive staff and overhead to provide support for these new business activities.
Liquidity and Capital Resources
The Company had a working capital deficit as of September 30, 2006 of $423,380. This compares to a working capital deficit of $888,159 as of December 31, 2005. During the nine months ended September 30, 2006 an aggregate of 27,000,000 shares of common stock were issued for aggregate consideration of $112,050 (for an average of $0.0042 per share).
The Company had a stockholder's deficit at September 30, 2006 of $423,380. This is compared to stockholder's deficit at December 31, 2005 of $891,383. The stockholder's deficit decrease was due the Company's operating income and by the payment of services with the issuance of stock and the exercise of stock options for cash.
At September 30, 2006, the Company had no material commitments for capital expenditures.
Due to its ongoing liquidity issues, the Company has defaulted on several short term obligations including for its operating overhead, trade payables, and state and federal employment taxes, resulting in tax liens being imposed on the Company's assets, which will have to be resolved with an infusion of new capital, of which no assurances can be made.
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Management believes that the Company will experience significant difficulty internally raising significant additional equity capital or debt until these matters have been resolved and the Company has eliminated a substantial amount of its outstanding debt and/or achieves operating revenue from its proposed oil and gas operations. The Company looks to earn management fees through its newly formed subsidiary and revenue from proposed oil and gas development activities that it can earn-in on successful financing and commencement of operations, of which there is no assurance.
Unless and until it achieves success in its proposed activities, of which there is no assurance, the Company may continue to be required to issue further stock to pay executives, consultants and other employees, which may have a continuing dilutive effect on other shareholders of the Company. Failure of the Company to acquire additional capital in the form of either debt or equity capital or revenue from proposed operations will most likely impair the ability of the Company to meet its obligations in the near-term.
SLJB - I just doubled my position at bargain prices. Something is definitely going on.
Conversion Solutions Holdings Corp Updates Shareholders
Tuesday November 14, 10:41 pm ET
Current Events
LAKE DALLAS, TX--(MARKET WIRE)--Nov 14, 2006 -- Conversion Solutions Holdings Corp (OTC BB:CSHD.OB - News), a Delaware Corporation, announces the following current events have taken place.
As of 8:38 p.m. on November 14, 2006, Mike Alexander has resigned as director and Chief Executive Officer and Randy Moseley has resigned as Chief Financial Officer of Conversion Solutions Holdings Corp (CSHD).
Mike Alexander says that, "I have spent the last couple weeks reviewing the records of Conversion Solutions Holdings Corp (CSHD) and have come to the conclusion that for the Company's assets to be monetized, the Conversion Solutions management group located in Georgia has the background and relationships in the bond market, with the particular bond assets claimed as assets by the Company, to implement the company's business plan. I, and all of the shareholders, wish the group in Georgia the best of luck in the development of the Company and the shareholders' value. Mr. Harris has agreed to assume his previous management and board position and will be making announcements in the near future. He can be reached at (678) 758-3010."
About Conversion Solutions Holdings Corp
CSHD is a diversified holdings corporation, which was formed to originate, fund and source funding for asset-based transactions in the private market. CSHD's main service will be to acquire, fund and provide insurance to target companies in the currently underserved $15,000,000 to $100,000,000 asset finance market. Our funding will enable our businesses to compete more effectively, improve operations and increase value. CSHD is headquartered in Kennesaw, Georgia, a suburb of Atlanta. For more information, please visit us at www.cvsu.us.
SMMW - great, so now I have yet more rubbishy restricted shares cluttering up my portfolio, as a constant reminder of past mistakes.
Don't spend it all at once
HE-5 Resources, Corp. Declares Cash Dividend on Common Stock
Wednesday November 1, 2:03 pm ET
NEW YORK, NY--(MARKET WIRE)--Nov 1, 2006 -- HE-5 Resources, Corp. (Other OTC:HRRN.PK - News) today announced that its Board of Directors declared a cash dividend on its common stock of $0.01 per share. The common stock dividend is payable on November 24, 2006 to all shareholders of record at the close of business on November 17, 2006.
About HE-5 Resources, Corp.
HE-5 Resources, Corp. (HE-5) is a growth-oriented and emerging natural resources company. HE-5's mission is to maximize shareholder value by investing in pre-production mining projects, which are undervalued and have proven reserves that will increase the revenue and profit of the Company. HE-5's goal is to establish a vast mineral reserve and resource base with a focus on the following 5 metals: gold, silver, copper, zinc and platinum.
Forward-Looking Statements
I think it's called a "smokescreen"
General Energy Corporation Announces Strategic Alliance
Tuesday October 31, 7:30 am ET
DALLAS--(BUSINESS WIRE)--General Energy Corporation, with offices in Dallas, Texas, and Montreal, Quebec, today announces a strategic alliance with Huizhou Engineering Co. Ltd and SEWAN Limited, both of China, to develop and manufacture land and offshore workover equipment and portable trailer drilling rigs. Both of these companies have successfully acquired contracts in Southeast Asia, China and England. The alliance will be named GHS Energy, with a main office in Montreal, and will be lead by managing director Rafael Pinedo. General Energy Corporation is a direct affiliate of Pilgrim Petroleum Corporation (Pink Sheets: PGPM - News), lead by President and Chief Executive Officer Rafael Pinedo. Effective immediately, GHS Energy will begin marketing services in Canada and in the United States early next year.
Mr. Pinedo said, "We are very pleased to have interest in such an outstanding joint venture with great value in cost of drilling, loss of production, manpower, safety and reliability."
About General Energy Corporation
General Energy Corporation is a privately held Delaware corporation with offices in Dallas, Texas, and Montreal, Quebec. The company is an oil & gas operator and oilfield machinery servicer, including drilling and workover operations.
About Pilgrim Petroleum Corporation.
Pilgrim Petroleum (Pink Sheets:PGPM - News) Corporation is an independent oil and gas company based in Irving, Texas. The company acquires oil and gas leases, producing properties, mineral rights and surface interests primarily on marginal fields. Once acquired, the company intends to redevelop each property to maximize the income from each property by refurbishing and improving the existing production.
From Allstocks - worth reading
http://www.digitalislandsinc.com/misc/index.html
But today is Oct 24th ... where are the $$$ ???
Just to show you I was paying attention
XKEM - patent news
Xechem Announces ``Notice of Allowance' for a Patent Relating to a Method of Treating Sickle Cell Disease With 5-HMF Compound Licensed from VCU
Monday October 23, 7:43 am ET
NEW BRUNSWICK, N.J.--(BUSINESS WIRE)--Xechem International, Inc. (OTC BB: XKEM - News) announced today the United States Patent and Trademark Office has issued to Virginia Commonwealth University (VCU) a notice of patent allowance relating to a method of treating Sickle Cell Disease (SCD) with a unique 5-membered heterocyclic anti-sickling agent known as 5-HMF. A notice of allowance is a written notification that a patent application has cleared an internal review and is nearing issuance.
The exclusive, worldwide rights for the production, sales and marketing of 5-HMF for use in the battle against SCD belong to Xechem as part of a collaborative licensing agreement with VCU. In May 2006, Xechem was successful in obtaining Orphan Drug designation from the US Food and Drug Administration (FDA) for use of 5-HMF by patients afflicted with SCD.
Xechem also announced recently that it has received a SBIR grant in the amount of $473,181 from the National Institutes of Health, National Heart, Lung and Blood Institute (NIH-NHLBI) to carry out the toxicity studies on 5-HMF.
5-HMF is a Pure Compound
Research led by Donald Abraham, Ph.D., professor of medicinal chemistry, VCU School of Pharmacy, has shown that 5-HMF, a pure compound with very little, if any, toxicity, has a high affinity for sickle cell hemoglobin and may be effective in the treatment of SCD. "Our findings suggest that this anti-sickling agent may lead to new drug treatments and may one day help those suffering with SCD. This molecule, 5-HMF, is the most promising molecule to treat sickle cell anemia to come from our research group in more than 30 years," Abraham said.
With the addition of 5-HMF, Xechem has now been able to expand its potent arsenal for treating Sickle Cell Disease beyond its Natural Herbal Drug, NICOSAN(TM), which was approved on July 3rd, 2006, by Nigeria's National Agency for Food and Drug Administration and Control (NAFDAC) and is currently being sold in Nigeria on a limited basis.
According to Xechem's Chairman and CEO, Dr. Ramesh C. Pandey, "With all of the excitement over the recent commercial launch in Nigeria of NICOSAN(TM), our all Natural Herbal Drug, there has been less attention focused on our other SCD product, 5-HMF, which also represents an extremely promising potential treatment for patients suffering with this terrible disease. As a pure compound, 5-HMF is the perfect complement to our herbal product and together with NICOSAN(TM) places us in a unique position of providing much needed efficacious treatment for this painful and debilitating condition. As the exclusive licensee for this product, we are very pleased to have the protections that a patent allowance affords to VCU and to us."
About Sickle Cell Disease
Sickle Cell Disease (SCD) is an inherited blood disorder caused by an abnormality in the hemoglobin molecule. Patients with the disease often produce stiff, abnormally shaped red blood cells that often do not flow freely through the blood vessels. This can create clogs in the vessels, which in turn can cut off the flow of normal hemoglobin and oxygen to parts of the body, and can cause severe painful attacks or "crises", damage to various organs and shortened life spans. People with SCD often suffer unpredictable painful crises several times a year lasting from a few hours to a week or more. In the US, there are approximately 80,000 patients with SCD. In Nigeria, that number is believed to be approximately 4 million, with an estimated 10 - 12 million sufferers throughout the African continent. Worldwide, at least 16 million individuals are believed to be afflicted with SCD.
About Xechem
Xechem International is a development stage biopharmaceutical company working on Sickle Cell Disease (SCD), antimalarials, and antiviral (including AIDS), anticancer, antifungal and antibacterial products from natural sources, including microbial and marine organisms. Its focus is on the development of phyto-pharmaceuticals (Natural Herbal Drugs) and other proprietary technologies, including those used in the treatment of orphan diseases. Xechem's mission is to bring relief to the millions of people who suffer from these diseases. Its recent focus and resources have been directed primarily toward the development and launch of NICOSAN(TM) (named HEMOXIN(TM) in the US and Europe) for the prophylactic management of Sickle Cell Disease (SCD). With the recent Nigerian regulatory approval of NICOSAN(TM), Xechem is now scaling-up the commercialization of the drug in Nigeria and making preparations for the pursuit of US FDA and European
CSHD ... "E" removed - FYI
http://www.otcbb.com/asp/dailylist_detail.asp?d=10/20/2006&mkt_ctg=OTCBB
HE-5 Resources, Corp. Acquires Claims in Matagami Mining Camp
Wednesday October 18, 3:37 pm ET
Claims Are Adjacent to Perseverance Zinc Mine Owned by Falconbridge Limited
NEW YORK, NY--(MARKET WIRE)--Oct 18, 2006 -- HE-5 Resources, Corp. (Other OTC:HRRP.PK - News) is pleased to announce the acquisition of claims in the Matagami Mining Camp, Quebec; located adjacent to the Perseverance zinc mine owned by Falconbridge Limited, subsidiary of Xstrata plc. HE-5 has completed the acquisition of 176 mining claims covering an area of 70 square miles in the Matagami Mining Camp. The Company plans to acquire additional claims that would more than double its current interest in this prolific mining camp.
The mining claims are located approximately 10 km. west of Matagami in the Daniel and Cavalier Townships (NTS Map Sheet 32F12), in the area known as the Matagami Mining Camp. Shareholders may view the Map Sheet that displays the mining claims at: http://www.he-5resourcescorp.com/images/32f12.jpg. The Matagami Mining Camp is a world-class mining district, with 18 known volcanogenic massive sulphide (VMS) deposits. The area is host to historical production of 8.6 billion pounds of zinc and 853 million pounds of copper and has established infrastructure including the town of Matagami, a railway, paved road and a 2,350 t/day mill owned by Falconbridge.
The property is notably situated 3 km. immediately south-west of the Perseverance zinc deposit discovered by Noranda in March 2003. Falconbridge Limited recently announced that it expects to invest approximately $130 million in the development of the Perseverance zinc mine, made possible in part by stronger zinc markets and the continued collaboration and support of the Quebec Government. Perseverance has measured and indicated resources of 5.1 million tonnes grading 15.8% zinc, 1.24% copper, 29 grams of silver per tonne and 0.38 grams of gold per tonne
This acquisition by HE-5 Resources is not only its largest to date but also has the greatest strategic importance to the Company and its future. The purchase of these claims in the renowned Matagami Mining Camp positions HE-5 as one of the few companies with interests in the camp and most importantly alongside a major producer and leading player in the copper and nickel industry, Falconbridge Limited. HE-5 plans to leverage this high-profile acquisition in order to expedite the closure of other acquisitions particularly in Nevada, and in doing so increase its reserves and extend its geographical spread in the Americas. The Company has recently signed MOUs to acquire a mining Corporation including all of its assets in Nevada and an approximately 90-acre parcel of private land in the Gold Hill section of the Comstock district in Nevada. These acquisitions, including its previous purchase of the Overman Property, will enable HE-5 to attain its goal to become the third largest mining company in Nevada.
Based on the proximity of the mining claims to past producers and existing deposits (i.e. Perseverance) in the Matagami Mining Camp, HE-5's Management believes that one or more deposits are located within the boundaries of the claims. In addition, Management believes that extensive exploratory work needs to be carried out on the claims to determine the location of potential deposits. HE-5 will immediately begin analyzing all available documentation of the work reports that have been submitted to the MRN by Noranda, in the areas on and immediately adjoining the Company's claims.
HE-5 expects to begin an exploration program in the spring of 2007 to establish the limits of the claims and the general geology therein. The three-phase program provides for mapping, surveying, prospecting and line cutting. A Proposed Work Schedule and Preliminary Budget for the Project are being developed and will be disclosed to shareholders upon completion. HE-5 today also announced that upon completion of its financial statements, it will immediately commence the application process in order to upgrade its listing on the NASDAQ Stock Market.
About HE-5 Resources, Corp.
HE-5 Resources, Corp. (HE-5) is a growth-oriented and emerging natural resources company. HE-5's mission is to maximize shareholder value by investing in pre-production mining projects, which are undervalued and have proven reserves that will increase the revenue and profit of the Company. HE-5's goal is to establish a vast mineral reserve and resource base with a focus on the following 5 metals: gold, silver, copper, zinc and platinum.
HE-5 Resources, Corp. Announces Cash Dividend
Monday October 16, 8:30 am ET
NEW YORK, NY--(MARKET WIRE)--Oct 16, 2006 -- HE-5 Resources, Corp. (Other OTC:HRRP.PK - News) today announced that its Board of Directors has approved a cash dividend on its common shares. The dollar amount of the dividend per share will be declared on October 23, 2006. The dividend will be payable to all shareholders of record at the close of business on November 10, 2006.
About HE-5 Resources, Corp.
HE-5 Resources, Corp. (HE-5) is a growth-oriented and emerging natural resources company. HE-5's mission is to maximize shareholder value by investing in pre-production mining projects, which are undervalued and have proven reserves that will increase the revenue and profit of the Company. HE-5's goal is to establish a vast mineral reserve and resource base with a focus on the following 5 metals: gold, silver, copper, zinc and platinum.
For more information on HE-5 Resources, Corp. please contact CEO Denyse Raynault at Raynault@he-5resourcescorp.com or visit the Corporate website at www.he-5resourcescorp.com.
HRRP announces 1/200 reverse split.
It contains the usual rubbish that this is "good" for the shareholders.
HE-5 Resources, Corp. Announces 1-for-200 Reverse Stock Split
Friday October 13, 3:58 pm ET
Reverse Split Will Broaden Investor Appeal of the Stock
NEW YORK, NY--(MARKET WIRE)--Oct 13, 2006 -- HE-5 Resources, Corp. (Other OTC:HRRP.PK - News), today announced that its Board of Directors has approved a 1-for-200 reverse split of its common stock. The reverse stock split will be effective today. Upon execution, HRRP shareholders will receive one new share of HRRP common stock for every 200 shares held.
This reverse stock split is intended to increase the per share trading price of HE-5 Resources' common stock and in so doing broaden the stock's appeal to investors. In addition, a higher share price will enhance the Company's ability to upgrade its listing on the NASDAQ Stock Market.
About HE-5 Resources, Corp.
HE-5 Resources, Corp. (HE-5) is a growth-oriented and emerging natural resources company. HE-5's mission is to maximize shareholder value by investing in pre-production mining projects, which are undervalued and have proven reserves that will increase the revenue and profit of the Company. HE-5's goal is to establish a vast mineral reserve and resource base with a focus on the following 5 metals: gold, silver, copper, zinc and platinum.
For more information on HE-5 Resources, Corp. please contact CEO Denyse Raynault at Raynault@he-5resourcescorp.com or visit the Corporate website at www.he-5resourcescorp.com.
No gold, so let's try water instead ... DIVE DIVE DIVE !!
Michigan Gold Mining Investments Inc. Announces Letter of Intent on Patented Water Purification Joint Venture With Californian Firm
Thursday October 12, 8:00 am ET
BAY CITY, MI--(MARKET WIRE)--Oct 12, 2006 -- Michigan Gold Mining Investments Inc. (Other OTC:MGGV.PK - News) is pleased to announce it has signed a letter of intent with Consolidated Water Technologies Inc. of Sun Valley, California. Consolidated Water Technologies Inc.'s focus is on utility conservation, pathogen control / disinfection and odor control. CWTI holds two patent process patents (U.S. Patent 5,730,879 and U.S. Patent 6,746,609) surrounding the use of water purification to achieve water and energy savings in cooling towers while reducing chemical, solids and water discharge. CWTI has existing distribution and/or representative agreements with Siemens and Pure Line Treatment Systems, LLC. CWTI provides patented or unique, proprietary water treatment, purification, odor control and disinfection products to the food, dairy, university, industrial, municipal, commercial and hospital markets. Satisfied customers includes, but is not limited to, Warner Brothers Studios, University of California, Irvine, Brigford Foods, City of Hueneme/Point Magu Naval Station, County of Fresno, Cushman and Wakefield, Manulife Financial, Washington Mutual and Kindred Hospital.
Michigan Gold Mining Investments Inc. and CWTI have signed a letter of intent whereby the companies will jointly and actively pursue mutually beneficial business strategies for the Peru Water project and existing market growth in North America.
Ben Fuschino comments, "We at MGGV are very excited about doing business with CWTI both in North America and Peru. Michigan Gold is extending its development of natural resources to include water. Water is the ultimate commodity and it is in line with MGGV's strategic vision centered on long-term commodity values."
Don Osborne II, VP of business development, adds, "Here at CWTI we have an accelerated growth strategy and the involvement with MGGV gives us the opportunity to enhance our growth strategy."
Investment returns on water has outpaced oil futures in the past two years: the world water index has gained 85% in the last two years as compared to a 23% return in oil futures. In other news, Michigan Gold has suspended its option on the Anita Mine property in Peru. The property has not, as of yet, reached the level of exclusive mineral lease title as required by our counsel and our board. However, when and if MGGV can be assured of delivery of title Michigan may proceed with the property.
The 1000 preference shares ($225,000) that were to be issued for the 11.3 million Condor Gold (CDRGF) common shares has been rescinded by the board of MGGV as the value of the CDRGF common shares have depreciated such that the board decided that the debt of the preference issue would be detrimental to Michigan Gold's interests at this time.
Big 5 stamp.... ??
The 5 largest audit firms, as shown in the following ...
The five largest auditing firms in the nation (the "Big Five") audited 194 of the 228 companies studied, while smaller accounting firms audited the remaining 34. However, there was a significant difference in performance by each of the auditing firms, as illustrated below.
Auditor Warnings on Companies that Subsequently Filed for Bankruptcy
Auditing Firm Companies
Audited
(# of Cos.) "Going
Concern"
Warning
(# of Cos.) Clean Bill of Health
(# of Cos.) Score:
Correctly
Issued
Warning
(%) Avg. Time
Before
Ch. 11
(Days) Adjusted
Score2
(%)
KPMG 28 12 16 42.9 228 46.5
Deloitte & Touche 34 19 15 55.9 175 49.2
Arthur Andersen 48 27 21 56.3 206 55.6
Ernst & Young 46 30 16 65.2 181 59.8
Smaller auditing firms 34 20 14 58.8 231 63.1
PricewaterhouseCoopers 38 24 14 63.2 245 70.0
Total 228 132 96 57.9 209
Hopefully it's not the Titanic
CSHD - now they have just filed an 8K.
Makes nice weekend reading.
http://www.sec.gov/Archives/edgar/data/757563/000129707706000068/cshd8ka_09292006.htm
CSHD - filing delay.
http://edgar.brand.edgar-online.com/default.aspx?sym=cshd
Why April 2005 - bad copy/paste job LOL
XKEM - an excellent assessment of this stock's potential. I think all the money that can be made from this stock has already been taken.
Starbright33 : I cannot post private messages. This post should answer your questions.
http://www.investorshub.com/boards/read_msg.asp?message_id=13527312
The CEO forgets one of the basic rules of business ... under-promise and over-deliver. He should never have promised Sept 23rd and hoped for the best, even if it is in the hands of the auditors ... but we still have 3 hours left to prove me wrong.
LP - In the case of PAIM, I was entitled to 1 billion preferred and they initially gave me 1 million with a letter advising that 1 preferred would equal 1000 preferred in a few weeks. Then one day it became 1 billion. They probably have to MANUALLY increase the size of a computer field to carry such a large number! They need to learn that billions are not unusual in pennyland.
I got mine from TDW Canada yesterday. They gave me a 1/1 dividend instead of 10,000/1 - but they did the same thing with the PAIM huge dividend some time ago. They can't post dividends in the billions - it will be clarified later.
I bought a bundle months ago @ $0.03 and I'm staying until $1.50 .... at least !
Quod erat demonstrandum - (which was to be demonstrated).
Hey, those 5 years of high school Latin were not wasted after all
Perhaps you could make me an "honorary" member. LOL
China Direct Acquires Capstone Industries, Inc.
Monday September 18, 8:00 am ET
COOPER CITY, FL--(MARKET WIRE)--Sep 18, 2006 -- China Direct Trading Corp. (OTC BB:CHDT.OB - News) announced today that it has acquired Capstone Industries Inc. (www.capstoneindustries.com). The acquisition of Capstone furthers China Direct's current strategic plan to expand domestic distribution opportunities through strategic investment and acquisition. CHDT issued 234,399 shares of its Series B Preferred Stock (convertible into 15.625 million shares of CHDT Common Stock) and $750,000 in cash (from the CHDT credit line with certain members of management) to acquire 100% of Capstone's common stock.
Capstone Industries (Deerfield Beach, FL), established in 1997, is an innovator in growing book light and multi-task lighting categories, holding several product and design patents and trademarks, and is engaged in product/design development, manufacturing, and distribution nationwide. Existing retailer distribution agreements include, but are not limited to, mass market retailers (Wal-Mart), office-supply chains (Staples), book store chains (Barnes & Noble), warehouse clubs (Costco), supermarket chains (Kroger), drug chains (Rite Aid), Department Stores (Dillards), and book clubs (Scholastic). For FY2005 (unaudited), Capstone had gross sales of $2.167 million, gross profit of $661,489 and net income of $92,535 after a one-time tax deferral adjustment of ($209,940). Pro forma financials for the acquisition will be filed as soon as practicable with the SEC.
Capstone's product development, domestic distribution, marketing expertise, overseas sourcing and product diversification is expected to positively contribute revenue growth in 2007. CHDT hopes that Capstone will bolster the non-power generator revenues of CHDT business lines and help diversify CHDT revenue sources. "We want to remain consistent with our strategic plan of dealing in products that can be distributed by existing channels, do not require extensive inventory and have a relatively short sales cycle," said Howard Ullman, Chief Executive Officer and President of CHDT. "Capstone complements our existing souvenir business by being mostly a direct sale to national or regional corporate customers," added Mr. Ullman.
Down 16% - is this a shake or a wake ?
Someone should ask Our-Street if he wants fries with his crow.
MGGV up 19% this morning ... looks like the market is expecting good news.
TEDG news - (Bird Flu)
China Biopharma Receives Order to Export Flu Vaccine to Macedonia
Thursday September 7, 9:00 am ET
HANGZHOU, China--(BUSINESS WIRE)--Sept. 7, 2006--China Biopharma Inc. (OTCBB: TEDG - News) today announced that Zhejiang Tianyuan Biotech, the Company's China subsidiary, has received an export letter of credit from the Government of Macedonia to ship its flu vaccine product to this Southeastern European country for distribution.
The order represents the first exportation of the flu vaccine to Macedonia from China. Moreover, this marks the first exportation of a flu vaccine product by Zhejiang Tianyuan.
"We are very pleased to extend the sales channel of our flu vaccine beyond China," said Dr. Jean-Denis Shu, chief executive officer and chief scientist of China Biopharma's China operation. "We believe this sale demonstrates that there is demand and acceptance for our product beyond China's borders. Consequently, we plan to continue to register our product in other countries to expand our international distribution channel."
About China Biopharma Inc.
China Biopharma (formerly Techedge Inc.) is a fast growing developer, producer and distributor of biopharmaceutical products in China. Through its wholly owned subsidiary, China Biopharma Limited, the Company owns the majority interest of Zhejiang Tianyuan Biotech Co., Ltd. The Company's current products consist of human vaccines against influenza, epidemic hemorrhagic fever (HFV), and Japanese Encephalitis (JEV). With its investment and ownership of local Chinese biopharmaceutical companies, the Company plans to build a leading biopharmaceutical company in China by leveraging its manufacturing and marketing capabilities and introducing advanced technologies, best products, and an experienced management team. With a fast growing market, newly completed production facilities, and several other new vaccines in the pipeline, the Company expects to see steady business growth in the near future. For more information, visit its website at www.chinabiopharma.com.cn.
XKEM - Why continue to pump a stock which has threatened dilution to 5 billion shares, has had no substantive product news in over a month and is steadily tanking. It gives a false impression of the stock's virtues to everyone, especially newbies. The only ones smiling are people like me, who left at $0.093
BKMP declares dividend.
Blackout Media Corp. Declares Dividend
Friday September 1, 4:00 pm ET
TORONTO--(MARKET WIRE)--Sep 1, 2006 -- Blackout Media Corp. (Other OTC:BKMP.PK - News) is pleased to announce that the Board of Directors has declared a preferred stock dividend, payable to shareholders of record of September 15th, 2006. The preferred stock dividend will consist of ten thousand (10,000) preferred shares of Blackout Media Corp. for every one (1) share of Blackout Media Corp. common shares held on September 15th, 2006. The ex-dividend date will be set by the NASDAQ.
The preferred shares when issued will be freely tradable and non-restricted.
The Company's Board of Directors characterizes this stock dividend as rewarding the shareholders of Blackout for their loyalty and dedication to the betterment of the company.
"As we more forward with The Fight Network and its related assets we wanted to thank the shareholders for their support and to give them something back," says Sandy Winick, president of Blackout.
About Blackout Media Corp.:
Blackout Media Corp. is a holding company with an interest in Blackout Communications who is a diversified media and entertainment company conducting operations in digital television, VOD, PPV, radio, the Internet and print under the brand name "The Fight Network." The activities of Blackout Media Corp. are conducted principally in Canada and the United States.
The CSHD letter may be a fraud.
How did they obtain a copy in colour ?
"Cease and Desist" from what ?
XKEM - possible dilution link ..
http://www.pinksheets.com/quote/filings.jsp?symbol=xkem