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Question for the numbers crunchers
When TS converted all the shares to his preferred E what was the value based on the sp that day?
If TS converted his current e's to commons what would be the value at todays close?
Has he lost money over this time period or made money on his initial investment which I believe IR said was over 3M.
Chunky the questions some large holders want answered are legit questions and TS has hidden behind silence rather then address. Why should TS, family and close insiders be allowed to not lose anything while those that bought and paid for the shell with cash take the hit.
Lucky the item that I have been pondering the last several days was the e-mail I recieved from IR stating that TS has invested over 3M personnaly while his family has over 1M. The issue is what have they lost with their investment? From what I figure nothing since they are preferred shares unlike our commons. It would be a little different if TS had invested in commons and was losing his shirt while making his buddy, YA and his buddy's kneepad spouse rich.
Evidently TS has a bad case of the deaf and blind CEO disease since he has gone into hiding once KK got is A$$ bailed out by him.
The continued dilution after TS said a while back that significant dilution would stop shorty seems like a bend of the truth also.
After what retail paid TS should be on his knee's thanking us while retiring 49% of his E's to show his appreciation to the retail shareholders.
The axe will fall on him if he so much as hints at either increasing the AS or goes back on his non R\S statement without 1st paying his debt to retail. And by paying his debt I mean getting the SP above .08 which it would be at if it wasn't for his allowing significant dilution to stall every run.
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.
Crash maybe in the past they had no fear of a reprisal from one or more irate shareholders but in this day and age justice can come quick while outside of the legal system, I for one will employ my method of justice without fear of the courant legal system. You steal from me whether outright or within the boundries of some over lenient judical system and I pay back 10 fold in such a way that you never enjoy what you stole for long.
just missed by 2 days settling a score with the Dr C from ACMG but hey I have all the time in the world plus he isn't even in the US so my actions are even easier to work out on him.
LB I thought the senario dealt with the 800K or M in an escrow account
Don't recall who mention a possible scenario regarding the shares in escrow but could they repost their concept as to what they believe is happening with those so I can review it.
For some reason I thought they said they believed the 800M in escrow was covering the new CD and if and when the new CD was paid off in cash TS would have the chance to possible retire them. Just want to review that idea that was mentioned
Thnx
Squeezer I have powder but also have a large amount currently held and feel it is better for me to wait for the run then risk more even at these low prices. Once TS shows he is on track working for the commoner I will not hesitate to add.
As stated before he needs to explain the most recent dilution shares, show he is paying the new CD's with cash instead of shares, and address the current share volume. I am glad some are making money at these prices but I still have a ways to go just to get even.
Travel
There are a few steps that would both booster retail confidence as well as sp
1) TS PR's that the new CD's are being paid off with cash rather then allowed to be converted into more dilution
2) An explanation as to what has caused the latest dilution, is it CeoCast selling their shares as payment of services, are they shares paid to management that have been sold, or (and I hope not) are they part of the new Cd's being converted
3) Retirement of or use for new aquisitions at least 49% of the E's.
4) buyback of the float with cash to reduce the availability of shares otherwise it will just be a flippers dream stock.
Though I could average down at these current prices I just can't pull the trigger till TS instills confidence back in me that he really is working for the benifit of the commoners and their infux of cash to support the company.
I would like to think that IR responded back to me because they findly see the need to address shareholder concerns and questions instead of ignoring them.
To the board I will accept direct questions to include in my next e-mail to IR. As much as some of us are down significant dollars they must be civil questions. I can't guarantee IR will reply but it is worth a shot. I feel either they know how many shares I hold or have somewhat of an idea anyway its worth a try. The only reason I did not post that e-mail sooner was it originated from my home address not work so didn't get to read it till tonight.
Lucky hopefully either IR or TS will respond to your messages or e-mails, maybe this is the start of management responding to the common shareholder.
I will be comprising another e-mail back to IR over the next several days as time permits, willing to include your questions if you feel like posting them to me.
Well I got a reponse from IR so hopefully I will be able to continue my dialogue with them later.
Because I am not a flipper or shorter I will post the reply and not keep it for myself. Many of you are aware that currently I am not happy with the SP and quietness around our management.
This isd astart with communication and nothing in it is insider info or such so have at. I am not putting this out to create an argument with anyone either as I am concerned mostly with my investment sum in this corp. And yes I still have many questions to ask them just need to find the time to draft another e-mail. Good luck to the longs.
Mr. 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
as of 4pm currently out 87% so am not happy with his work ethic of running a profitable business even if it is only 8 months old, the reason it is out so much was the cost of the shell and as far as we have heard we got zilch for the 24M shell we bought, 24M to bail out the idiot KK who must have slip TS something why else did he bail him out. Common sense you don't pay 24M for and empty shell and so far looks like TS did so he gets an F on that action until proven otherwise.
Funny thing is TS, KK and knee pads, YA and other insiders\friends who happen to read this board are probably laughing all the way to the bank since they could give a dang about who they screw out of money. But of all of them TS has the most to worry about since we know him better then he knows us when it comes to confrontations up close and personal.
He is IMHO working with the others to increase their wealth at the retail shareholders expense otherwise why no shareholder letter explaining and answering questions and concerns of the common shareholders. Reason is not he is too busy but he doesn't want the commoners to know what his buddies do so they can rake in profits. Why did you pay so much for the shell TS?
Who is on the take among your rich and lazy cronies?
What you have done to shareholder accounts may not be against the law in the legal system but it will not hold up in the street justice court system.
He protects his e shares while reducing the commoners sp by dilution which according to him was to subside very shortly, his definition of very shortly must mean a year or more.
At the rate he is costing shareholders account $ he needs to have a visit to the woodshed.
cdnkid10 PM an e-mail address with which to communicate with you
AP do you think because of the preferred's that are being held most retail are figuring those into the equation which if all converted as written along with the new CD's would bring us to the sp we have floundered around?
Most retail is currently gun shy with all the potential dilution that could hit. Raising the AS would be no problem since TS is the majority holder.
TS needs to address shareholder concerns to boost retail moral otherwise only YA, flippers and shorts will make any money.
cupcakes wouldn't have what I have invested in this company and what investor doesn't expect a little gain on their investment/ heck in so short of time what did YA make on their investments? How long did they wait? So if by waiting as long as they did I to will make the % they made don't think so.
chunky I agree with your statement about hopefully not pulling the sell trigger on the way up and yes I really expected to much growth and less dilution which would have increased the sp a lot higher so on that point I agree i was ignorant but really what investor buys stock hoping it goes down if you do why not wait for the downtrend and buy more. I guess you feel TS has been forthright with the commoners since last year but I feel he did pull one over maybe only minor but he has allowed the lenders to run the price down to convert even more then what they really deserved.
Do you not deep down wonder why he paid so much for the shell or are you taking his word it was worth every million we paid for it. Not trying to pick a fight just think we deserve more answers then he is willing to give. You as a shareholder deserve just as much respect from TS as the leeches he borrowed money from but do you get it? When was the last time TS actually answered a shareholder e-mail or call? Bet if KK or any one of the CD holders called him he would jump to respond. What makes them any different then a commoner who paid for the shell TS is running. Actually a common shareholder is more supportive of the company then the likes of YA and their management people.
Wish I had known TS was going to allow the price to drop this low I would have waited and been able to buy almost 4 times what i own currently with the chance of seeing my account be green before 2009 at the rate he is allowing dilution currently. I thought I read somewhere he atated that dilution would subside shortly. Guess my definition and his of shortly varies. I will not be happy and will feel he manipulated \ cheated sharholders until this again gets to the .05 range where he allowed his inside friends and leech loaners to rape the common shareholder. What he has allowed the shareprice to drop to is bordering on mismangement of a company in my book, others don't feel this way and more power to them but i do and the 1st chance I get to see him in person he will know its me calling him a YA\KK\kneeopads friend.
Hopefully the next junket YA is on will deepsix into the ocean so we can help feed the endangered sharks of the world.
I wish all the bad luck in the world upon YA, KK and his kneepad other, along with any relationships\kin that have benefited from their stealing off the hardworking people of ythis country and others. All of this is my opinion of course but heck what has TS done that has made the commoners money who bought 9 months to a year ago.
Come out of the closet TS and address the issues and concerns of those you took money from and gave to the leeches also.
NP LB would still like to see some of my concerns answered one way or another, with the correct favorable answers I would be willing to double down on my holdings but until TS lays out some numbers and becomes a little more seeable I must refrain from buying. I wish all those that have bought on the downtrend good luck as I still sit slightly above the .01 average.
Questions I would liked answered in TS finds time to read this board or has someone doing it for him are:
1) What came with the shell we bought for 24M?
2) Have you begone proceeding to pay off the new CD's with cash or are you figuring on doing so with dilution?
3) Who and how will you monitor YA on their honesty regarding not shorting against the new CD's?
4) Why not use have of the E's for purchases since in theory they represent 80 % of the current OS?
5) If you are not diluting against the new CD's where has the most recent increases in share come from?
6) Why would you not have a meeting of shareholders even by conf call to inform them of current situations and plans?
7) Why pay and IR dept that never answers e-mails?
Per Marsha
OS 1,274,869,049
FL 1,178,860,627
Rest 96,008,422
wasn't directed at you sorry
Question is are the new issued shares restricted? Its great that people report the increasing OS but at least make an attempt to get the float and Res also.
If the increase is do to a RES increase that would be nice to know.
If I get a chance this afternoon I will try calling but can't right now
LB I wrote down res of 96,008,422 I may be mistaken it was noisy here today sorry
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.
OS 1,218,452,382
FL 1,122,443,960
FL 96,008,422
Increase 28,571,429
Well Viva the flippers are the only ones making any cash with SWVC along with TS, friends and family and his inner circle of management personnel.
As much as I wanted to average down I just couldn't pull the trigger until he starts to pay of the new CD's without dilution and addresses the share structure to the benifit of the common shareholders. Haven't been able to find any logical reason for his purchasing of the shell for such a large amount other then bailing KK, throwing cash to Mrs KK (dirty Knees), and increasing the wealth of his friends at retail expense.
Currently have quite a bit of dry powder but will wait till he does the above and it runs. Won't be happy till it gets above the .05 mark and then will be ok with adding.
Long way to go until my account is green
Hey LB maybe it would be worth a trip for some to the Hackett's store to open Saturday, June 14th at University Plaza to catch a glimpse or more of TS.
Soapy:
You should pass this news item on to Eric maybe he could contact them and sell them some product as they paid quite a bit to clean up the mess.
http://www.bristolpress.com/WebApp/appmanager/JRC/BigDaily?_nfpb=true&_pageLabel=pg_article&r21.content=%2FMAIN_REP%2FArticle%2F2008%2F05%2F27%2F2108981
I take our ghost CEO hasn't gotten back to you regarding the call you placed to him.
AP thats manipulation with TS's blessing otherwise he would have publically addressed the issue and done something about it, but instead he has allowed it with full knowledge of who, what and when because it is in his best interest, how much is YA kicking back to him for allowing this crap to happen? Until he comes out and publically addresses the sp issue he is just as bad as YA, KK and KK's mistress\wife\concubine etc.
They are all in bed together to increase their net worth at the expense of the common shareholders.
Don't feel bad my sentiments exact and just think they can get a triple before I break even and they can be out while I still have to wait. Really sucks especailly if it was a planned act by those on the inside loop.
Soapy correct me if I am wrong but isn't this something new for YA to hold restricted shares for this particular company, don't recall them holding restricted prior. What would be the reasoning behid that. or am I seeing something that isn't really developing
winnotlose I plan on taking this matter into my own hands if it comes down to TS screwing the common retailer. There are those already who live in the area that have been watching his movements. If he tries to R\S or buy out at real cheap prices he will learn the meaning of Western Justice. The only way for him to escape is by heading to Thailand like the Dr but he will ruin the rest of his families rep.
KK, YA KK's wife and others were in on this serade but he better make good. I have a 2 weeks vacation coming and it will be spent tracking and cornering him to get answers.
Just like with Dr C Homer was in on it as well as Eugene they all claim ignorance but they all made money, only diff is C took off while the others stayed around.
More publicity the papers show the worst it will be for Dede and TS's inner circle
Soapy so why did he pay so much for the shell if he hasn't annoinced anything coming with it?
Has anyone contacted the TA today?
TS needs to enlighten the commoners with info on how he intends to use the E's for the next purchase.
What we really got for the 24M spent on the shell.
When he will start paying back the new CD's instead of using the diluting machine.
With all his money he could gobble up 500 million shares and retire them thus increasing shareholder value as well as his own.
problem is no one but the inner circle have had contact with him. Our IR dept sucks and is not worth a dime.
good luck getting him to respond back to you. Evidently he has no concern for the commoners only his friends at YA, KK and his leech other half, his immediate family and co-worker's who agree with his tatics.
Some have stated they believe TS is allowing YA to cover I don't buy that as that would be a CEO involved in depressing his companies share price to benefit a specific party.
Only way to get an answer is to confront him face to face or maybe with enough letters to editors, and his sisters opposition party.
He nevered answered questions sent by multiple shareholders regarding why we paid so much for an empty shell or if it (the shell) did come with anything of value.
I firmly believe he is in direct contact with YA and the other CD holders on a daily basis and coniving with them to profit themselves rather then commoners.
If he is the wiz some clain he is then use the E's to buy the next companies and paid off the new CD's with cash. Why would he allow YA to convert and contribute to more dilution if it wasn't in his best interest. What did he get for himself for bailing the idiot KK out of debt. Why has his siter remained silent on him bailing wisebuys out. Why after attempting to pay off one of the remaining old CD's with cash (supposedly) did he resort to going back to the leeches at YA for new CD's if he wasn't getting something for himself and his inner circle.
Until he shows support for the commoners the jury of shareholders I associate with have ruled him guilty of neglecting his duties to the commoners while making tons of cash for his leech lenders and family.
People say if your not happy sell why sell when he is supposed to making and empire but an empire for who, has he increased the share value in the last 9 months. Its great to but companies but what good is it if the companies are valued at half what he paid and you borrowed to but them.
you forgot 5 A capped knee crook
it will come to that if this is a scam he will get his
Well you folks do your thing through the legal system, I have little faith in it and prefer street\western justice myself.
When neither the IR dept or TS answer any e-mails it shows he believes he is better then us and above the law. You may not be able to prove that TS and YA orchestrated the pump and dump, that TS knew about the hidden CD and the no cash pay back, that TS is planning on R\S this all along even though he says it is not currently on board, that freiend and family were in on the pump and dump, that he has no respect for any of the commoners because he is much better class of people then us,
All of the above will never be proved but the bottom line is what has he done for the common investors account in the last 9 months other then send it red while he collected a fat salary and lost nothing.
He is just as bad as Cavasin from ACMG. He is probably laughing at all the talk about his dubious dealings since it was KK who taught him the ropes. His silence is evidence of his involvement with the pump and dump otherwise why no communications to those asking for answers. He is laughing all the way to the bank but he will not have the last laugh.
Crash more important is why isn't TS addressing issues of importance to common shareholders?
If YA is indeed covering a short position it has to be with TS's knowledge at the cost of commoners. IMHO this would be a CEO allowing manipulation because of former and current relationships.
Is TS also benefiting from this drop in some way so that is why he has turned a blind eye.
Does he have an unwritten agreement with the lending leeches?
Why does he not address the issue?
His current lack of actions towards the commoners that paid for everything is unprofessional.
I have a question to those who may have this info at their fingertips.
When TS got control of the shell what did it cost him? In other words what did he have invested to recieve the shares he converted to preferrd's. Trying to figure out what TS has at stake $ wise from the get go that he took control of the shell from KK in exchange.