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Is anyone else showing a value of zero on their screens for this today?
It is possible it isn't, it is also possible it is
I have seen companies with a revolving line of credit that is tied to receiveables with a term and set interest rate. However the payments are made in shares which are converted at market prices. If this was say a fully reporting company listed on the otcbb you would be able to see sec filings stateing the nature of the financing. They are not, they are a pink sheet listed as limited information available with a cautionary flag
I'm not saying that for sure this is a convertable loan, I'm saying that all of the indicators are present.
The dropping share price, the increase in a/s, the paid promotional venues, the press releases with glowing promise that then changes due to "unforseen" millions in future revenue.
I shall return to the sidelines for now, to wait to see what happens. I will say if you believe a word that a pinksheet CEO say's you are asking for it.
He didn't really explain the type of loan he obtained did he?
Wonder why?
If they have gone the route of convertables you should read
this
By contrast, in less conventional convertible security financings, the conversion ratio may be based on fluctuating market prices to determine the number of shares of common stock to be issued on conversion. A market price based conversion formula protects the holders of the convertibles against price declines, while subjecting both the company and the holders of its common stock to certain risks. Because a market price based conversion formula can lead to dramatic stock price reductions and corresponding negative effects on both the company and its shareholders, convertible security financings with market price based conversion ratios have colloquially been called "floorless", "toxic," "death spiral," and "ratchet" convertibles.
Both investors and companies should understand that market price based convertible security deals can affect the company and possibly lower the value of its securities. Here's how these deals tend to work and the risks they pose:
The company issues convertible securities that allow the holders to convert their securities to common stock at a discount to the market price at the time of conversion. That means that the lower the stock price, the more shares the company must issue on conversion.
The more shares the company issues on conversion, the greater the dilution to the company's shareholders will be. The company will have more shares outstanding after the conversion, revenues per share will be lower, and individual investors will own proportionally less of the company. While dilution can occur with either fixed or market price based conversion formulas, the risk of potential adverse effects increases with a market price based conversion formula.
The greater the dilution, the greater the potential that the stock price per share will fall. The more the stock price falls, the greater the number of shares the company may have to issue in future conversions and the harder it might be for the company to obtain other financing.
Before you decide to invest in a company, you should find out what types of financings the company has engaged in - including convertible security deals - and make sure that you understand the effects those financings might have on the company and the value of its securities. You can do this by researching the company in the SEC's EDGAR database and looking at the company's registration statements and other filings. Even if the company sells convertible securities in a private, unregistered transaction (or "private placement"), the company and the purchaser normally agree that the company will register the underlying common stock for the purchaser's resale prior to conversion. You'll also find disclosures about these and other financings in the company's annual and quarterly reports on Forms 10-K and 10-Q, respectively, and in any interim reports on Form 8-K that announce the financing transaction.
If the company has engaged in convertible security financings, be sure to ascertain the nature of the convertible financing arrangement - fixed versus market price based conversion ratios. Be sure you fully understand the terms of the convertible security financing arrangement, including the circumstances of its issuance and how the conversion formula works. You should also understand the risks and the possible effects on the company and its outstanding securities arising from the below market price conversions and potentially significant additional share issuances and sales, including dilution to shareholders. You should be aware of the risks arising from the effects of the purchasers and other parties trading strategies, such as short selling activities, on the market price for the company's securities, which may affect the amount of shares issued on future conversions.
Companies should also understand the terms and risks of convertible security arrangements so that they can appropriately evaluate the issues that arise. Companies entering into these types of convertible securities transactions should understand fully the effects that the market price based conversion ratio may have on the company and the market for its securities. Companies should also consider the effect that significant share issuances and below market conversions have on a company's ability to obtain other financing.
Companies or investors seeking to learn more about the SEC's registration requirements for common stock issuable upon conversion of unregistered convertible securities, including the timing of the filing of the resale registration statement and the appropriate form that the company may use to register the resale, should consult the Division of Corporation Finance's manual of publicly available telephone interpretations.
http://www.sec.gov/answers/convertibles.htm
We all bought our shares from an idiot, we all hope we can find one to sell to
"Spit you what you see"
What is the translation of that phrase ?
I may be wrong in my "insight" I don't think I am.
I know the pps don't lie, This is in the toilet for a good reason.
This was a good trading stock until they started manipiulating it.
We all bought our shares from an idiot, we all hope we can find one to sell to
You may have noticed the recent increase in paid promotional sites highlighting EESO
Benchmark Journal
OTC Picks
Pinicle Digest
This is part of the convertable note process. Part of the process of providing the convertable holders a market to sell their shares into. Ask yourself why else would they pump the stock. The whole thing is linked together. You are the target.
At these prices, 200,000 is about 500 million shares. If I'm right it won't stay anywhere near this price.
I have traded this a few times. I read the "update" and it is my opinion that he increased the a/s so he can issue shares for a convertable line of credit. Bank loan, I don't think so. I think you will see the name Dutchess or Laurus come up sooner or later. JMHO They don't care what the share price is, they will just print more to pay off the line of credit.
This is dead money, just another CEO with a "dream" ( his words not mine ) he wants you to pay for.
If I am right, this is a deal with the Devil. If I'm wrong, not the first time. If you see one of those names mentioned in connection with this company, do yourself a favor and quietly bail
I have no axe to grind here. So if you want to tell me how wrong I am or what an idiot I am feel free.
I sold this a long time ago, before he started diluting
We all bought our shares from an idiot, we all hope we can find one to sell to
CFRI Investor Update for August 19, 2008
Dear Shareholder,
As part of our on-going commitment to keeping you informed, we are pleased to provide you with this "CFRI Investor Update".
In this update, we provide information on: the status of the definitive agreement as it relates to the military contract; and, the status of the transition to the OTCBB.
Definitive Agreement - Military Contract
Conforce continues its wait for the signing of the definitive agreement in connection with the Letter of Intent it received from its US military sub-contractor on May 28th of this year. Although the contract was expected to be executed in July, administrative clarifications required by the military has delayed the process. Conforce and its sub-contractor remain confident that the agreement will be signed in the near term and as such, on-going preparations for the delivery of the product remain in affect. Conforce will continue to provide frequent shareholder updates as to the status of the contract.
OTCBB Listing
The company is pleased to announce that it has retained the services of a US accounting firm and that audits of fiscal 2006 and 2007 are currently underway. The audited statements are expected to be completed in early September. In conjunction with the audit, Conforce attorneys have commenced preparations of the company's FORM 10-SB Registration Statement. Conforce expects that the FORM 10 will be filed with the SEC in or around the second week of September, at which time the company will seek a listing on the OTC Bulletin Board.
Conforce Investor Update
Blah Blah Blah...Who Cares
I was just at Busch Gardens in Tampa last week, Nice Place
I think they have finally reversed me out of ownership
I don't think I'll be receiveing 1000th of a share
Pretty sad.
But I've learned a valuable lesson
Here's another one, the dictionary of terms is very useful
http://www.investopedia.com/?viewed=1
Here are some reference to popular indicators and what they might mean in english. It dosen't mean that they will have any bearing on the trading activity of this stock
Bollinger Bands
FLIP is trading within its Bollinger Bands. This is a normal condition and suggests that the stock is neither overbought nor oversold relative to the recent price action.
MACD
FLIP's MACD is currently indicating a weak bullish signal. Although the MACD is trending above the signal line, the indicator is still below 0, which suggests that the underlying moving averages are bearish.
Stochastics
The Stochastic Oscillator is registering a bullish signal as the %K line is above the %D; however the oscillator has moved above the critical value of 80 and is now overbought. The overbought condition means that the upwards momentum experienced in this stock is not sustainable.
RSI
The RSI is currently at 38.8% which indicates that the stock is neither overbought nor oversold. Note the trend of the RSI to see if the internal strength of FLIP is improving or weakening.
Go to this web site
http://stockcharts.com/index.html
Click on the tab marked Chart School
People often post references to tech indicators on message boards because it makes them sound like they know what they are doing.
I use crystal balls myself
Mighty Strange
Zero bid Zero ask over 33mil traded
I wish I knew what was going on
Time for some info please
I'm an idiot, and I enjoy your posts more and more everyday
Doe's that mean I'm getting smarter
Maybe they're gone, adios, asta la vista baby
This is just a guess
Reverse split and symbol change?
Is this gonna run today
Should I get my money ready
1 trade at the ask so far today for 20000
everything else at the bid
It might run, but which direction?
I think if you post this enough times you might be right once,I doubt it though
EYSM
Now down 33.33 to .10 on 650 shares
Remember when you were a kid
I think FTS want's a do-over
Or should I say another do-over
The note amount is 650.000
It was due on the 14 and is in default
It is convertable into fts shares at the lowest of 3 days best bid, lets say .000855
760,233,918 shares which they don't even have
Wonder who will end up owning who
From 135000 shares reversed down to 1
funny
Another 1/1000 split.
Whats gonna happen to my 1 share now ?
Because I post facts, that makes me a paid shill
I posted the same things on the OTG board because they apply to both companies.
You shouldn't accuse people unless you have something you can prove
I agree with your statement that FTS ceo should step forward to explain his actions to his shareholders
I bet he won't
From the binding agreement dated March 18 2008
Between FTS group and On The Go Healthcare
Excerpt:
Exhibit E
Article 3 Converson
Upon the happening of an Event of Defualt, as set forth in Article 4 below, the Holder shall have the right to convert any unpaid amounts not to exceed the Default Amount, as defined herein, into shares of restricted common stock of FTS Group, Inc at the Holders sole option.
Thats right, more shares.
Did Scott mention that in his pr's ?
Comments added by me in italics
http://www.thestandard.com/news/2008/03/26/fts-group-acquires-otg-technologies
As OTG's new CEO, Rasmussen, who is also based in Tampa, said his main priority right now is to help OTG get its feet back on the ground by building the confidence of OTG employees, ( how confident were they when they found the doors locked) which were also acquired by FTS Group during the sale. (can you really buy people in Canada) From a short-term perspective, he said he will make frequent visits up to Canada to ensure the company maintains its existing relationships with current vendors and distributors. A long-term goal (like what a month) he adds, will be on seeing where the biggest opportunities lie within Canada and the U.S. once its team (that's a good one) and relationships have been re-established and built.
Can't you just imagine the line of crap they fed these poor employees the day they "took over"
We all bought our shares from an idiot, we all hope we can find one to sell to
Comments added by me in italics
http://www.thestandard.com/news/2008/03/26/fts-group-acquires-otg-technologies
As OTG's new CEO, Rasmussen, who is also based in Tampa, said his main priority right now is to help OTG get its feet back on the ground by building the confidence of OTG employees,( how confident were they when they found the doors locked) which were also acquired by FTS Group during the sale.(can you really buy people in Canada) From a short-term perspective, he said he will make frequent visits up to Canada to ensure the company maintains its existing relationships with current vendors and distributors. A long-term goal(like what a month) he adds, will be on seeing where the biggest opportunities lie within Canada and the U.S. once its team(that's a good one) and relationships have been re-established and built.
If this guy Scott thinks he can convince his shareholders that he was mislead in his aquisition of On The Go it must be because he thinks they are stupid.
This is a quote from his own man who was put in charge
Rasmussen was also named the new CEO of OTG.
"(OTG) was on the brink of bankruptcy," Rasmussen said. "There was a lot of pressure put on (Turk) and (the situation) had to do with a funding issue. We're now assuming all of their debt. When we looked at the balance sheets and we broke down all of the expenses, we felt the deal was an attractive one financially speaking because of the money we'll be bringing in to turn this into a net income situation," he added.
http://www.thestandard.com/news/2008/03/26/fts-group-acquires-otg-technologies
I know you as familiar as I am concerning FTS group if not more.
"We also today announce the appointment of David Rasmussen, an officer and director of FTS Group, as the new Chairman and CEO of OTG Technologies Group, Inc.
http://biz.yahoo.com/iw/080318/0376288.html
I feel sorry for the employees involved.
DAVID R. RASMUSSEN
Speaking of Lawyers, they have one in common
Amy Trombly, Trombly Business Law
I'm guessing she didn't represent either party in this case as that would seem to be a conflict
OGOH was a fully reporting company with audited financial statements. I wasn't in the room so I can't say what was disclosed. I still believe the responsibility falls on the buyer. I was able to ascertain from their filings and constant issuances that their debt was out of hand. I'm relatively sure that FTS was given more access than I could hope to have. Also I would assume that their accountants have expierence in these matters.
The CEO of FTS group is very familiar with convertable debt and I can't really accept any claims that he was surprised by the debt load he was dealing with.
The lawyers will figure it all out,the shareholders will foot the bill
WorldCargoNews article
Published: June 2008
Eko-Flor ready for testing
Toronto-based Conforce International’s efforts to bring its revolutionary composite flooring product, Eko-Flor, to market would appear to be bearing fruit.
The company expects that over 900 TEU of Eko-Florequipped containers will be put into circulation for field testing between now and September. Customer names have not been released but are reported to include several of the world’s largest container operators....
This complete item is approximately 300 words in length, and appeared in the June 2008 issue of WorldCargo News, on page 17.
.0005 X .0015
BID.....ASK
We all bought our shares from an idiot, we all hope we can find one to sell to
.0009 Doh!
I'm sorry you're right. I meant .001
My bad