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American International Group Inc. Q3 2008 Earnings Call Transcript
November 10, 2008...10 pages:
http://seekingalpha.com/article/105101-american-international-group-inc-q3-2008-earnings-call-transcript
AIG Responds to Misleading News Reports
Edward M. Liddy, Chairman and Chief Executive Officer of American International Group, has issued the following statement: “Recent news reports have grossly mischaracterized an American International Group seminar for 150 independent financial planners held in Phoenix last week.
The financial planners are not AIG employees. In addition, the cost to AIG for this event was minimal. More than 90 percent of the costs were paid either by sponsors or by the independent financial planners themselves.
It is essential for AIG to conduct seminars of this kind to keep independent financial planners abreast of investment products and services including those offered by AIG. The financial planners are responsible for generating almost $200 million in revenue this year for AIG as of September 30th.
On October 10, I issued a directive to all AIG employees and subsidiaries to reduce expenses and conserve cash, including cancelling all nonessential conferences or meetings, unnecessary travel and excessive overhead. Since then, we have canceled more than 160 events. We conducted a top-to-bottom review of all expenses of the Phoenix meeting in advance and found that it was consistent with my October 10th directive. This conference was approved because it provides the kind of communication we must conduct with the people who sell our products if we are to be successful and repay the U.S. taxpayer.” American International Group, Inc. (AIG), a world leader in insurance and financial services, is the leading international insurance organization with operations in more than 130 countries and jurisdictions. AIG companies serve commercial, institutional and individual customers through the most extensive worldwide property-casualty and life insurance networks of any insurer. In addition, AIG companies are leading providers of retirement services, financial services and asset management around the world. AIG's common stock is listed on the New York Stock Exchange, as well as the stock exchanges in Ireland and Tokyo.
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AIG Responds to Misleading News Reports
Edward M. Liddy, Chairman and Chief Executive Officer of American International Group, has issued the following statement: “Recent news reports have grossly mischaracterized an American International Group seminar for 150 independent financial planners held in Phoenix last week.
The financial planners are not AIG employees. In addition, the cost to AIG for this event was minimal. More than 90 percent of the costs were paid either by sponsors or by the independent financial planners themselves.
It is essential for AIG to conduct seminars of this kind to keep independent financial planners abreast of investment products and services including those offered by AIG. The financial planners are responsible for generating almost $200 million in revenue this year for AIG as of September 30th.
On October 10, I issued a directive to all AIG employees and subsidiaries to reduce expenses and conserve cash, including cancelling all nonessential conferences or meetings, unnecessary travel and excessive overhead. Since then, we have canceled more than 160 events. We conducted a top-to-bottom review of all expenses of the Phoenix meeting in advance and found that it was consistent with my October 10th directive. This conference was approved because it provides the kind of communication we must conduct with the people who sell our products if we are to be successful and repay the U.S. taxpayer.” American International Group, Inc. (AIG), a world leader in insurance and financial services, is the leading international insurance organization with operations in more than 130 countries and jurisdictions. AIG companies serve commercial, institutional and individual customers through the most extensive worldwide property-casualty and life insurance networks of any insurer. In addition, AIG companies are leading providers of retirement services, financial services and asset management around the world. AIG's common stock is listed on the New York Stock Exchange, as well as the stock exchanges in Ireland and Tokyo.
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S&P Maintains Hold and Targets $3.50
11-Nov-08 09:48 am
November 10, 2008
07:48 am ET ... S&P KEEPS HOLD RECOMMENDATION ON SHAR ES OF
AMERICAN INTERNATIONAL GROUP (AIG 2.11***): Q3 operat ing loss of $3.42 vs.
operating EPS of $1.35 is worse than our estimate. AI G also unveils revised
Treasury bailout plan. Most significant, in our view, is increased commitment to
some $150B (including purchase of $40B preferred shs) , a lower interest rate
(LIBOR + 3% vs. LIBOR + 8.5%) and a longer loan term (5 vs. 2 years). While
execution risk remains, we view these terms as more m anageable.We widen our
'08 operating loss estimate to $7.15 from $2.07. Our $3.50 target price assumes
AIG stays discounted to historical metrics.We note 9/ 30/08 book of $26.46/share.
/C.Seifert
Sentiment : Hold
$637,174 Net Profit
q3 financials - quarterly report received 10/10/08
http://pinksheets.com/otciq/ajax/showFinancialReportById.pdf?id=18158
Call Congress
Talk to Senators Barney Frank, and Chris Dodd they caused this.
Enough said.
AIG at a Glance
American International Group, Inc. (AIG), a world leader in insurance and financial services, is the leading international insurance organization with operations in more than 130 countries and jurisdictions. AIG companies serve commercial, institutional and individual customers through the most extensive worldwide property-casualty and life insurance networks of any insurer. In addition, AIG companies are leading providers of retirement services, financial services and asset management around the world. AIG's common stock is listed on the New York Stock Exchange, as well as the stock exchanges in Ireland and Tokyo.
We have a winner
break the 50 day ma and watch out
Value or Value Trap? Fed Liquidity Will Ultimately Reignite Banks, Herro Says
Posted Nov 10, 2008 07:00am EST by Aaron Task in Investing, Recession, Banking
Related: UBS, CS, XLF, JPM, BAC, C, WFC
The Fed risks falling into a "liquidity trap" if it continues to slash rates and take other extraordinary steps to quell the financial crisis, says David Herro, who oversees about $11 billion as chief international officer of Harris Associates.
A a liquidity trap occurs when policymakers are unable to stimulate economic activity as banks, businesses and consumers hoard cash rather than lending, borrowing or investing capital.
Herro does not believe this worst-case scenario will come to pass, arguing the "dry straw" in the markets will eventually "catch fire," although the timing is uncertain. (In this analogy, all the Fed's liquidity is the lighter fluid.)
One of the most acclaimed value investors on Wall Street - Smart Money named him one of the "World's Greatest Investors" last summer - Herro's fortunes have fallen more recently: The $3.8 billion Oakmark International fund he manages is down 25% year to date, in large part because of holdings in European banks like Credit Suisse and UBS.
In the accompanying video, I asked Herro for his updated views on those banks, which he still own. The fund manager is much more upbeat about prospects for Credit Suisse, which has emerged relatively unscathed from the financial crisis, and generally downbeat about banks that now have big government ownership.
Good for City Group China Stimulus plan
China announces $586 billion stimulus plan
Sunday November 9, 2:15 pm ET
By Scott Mcdonald, Associated Press Writer
China unveils $586 billion stimulus plan to fight effects of global meltdown
BEIJING (AP) -- China unveiled a $586 billion stimulus package Sunday in its biggest move to inoculate the world's fourth-largest economy against the global financial crisis.
The Cabinet approved a plan to invest the money in infrastructure and social welfare by the end of 2010, a statement on the government's Web site said.
ADVERTISEMENT
Some of the money will come from the private sector. The statement did not say how much of the spending is on new projects and how much is for ventures already in the pipeline that will be speeded up.
China's export-driven economy is starting to feel the pinch of weakening U.S. and European economies, and the government has already cut key interest rates three times in less than two months in a bid to spur economic expansion.
Economic growth slowed to 9 percent in the third quarter, the lowest level in five years and a sharp decline from last year's 11.9 percent.
That is considered dangerously slow for a government that needs to create jobs for millions of new workers who enter the economy every year and to satisfy a public that has come to expect steadily rising incomes.
Exports have been growing at an annual rate of more than 20 percent but analysts expect that may fall as low as zero in coming months as global demand weakens.
The International Monetary Fund has urged governments to adopt economic stimulus packages and, in some cases, to cut interest rates further, to counteract the slowdown.
China joins other major economies such as the U.S., Japan and Germany which have already introduced their own stimulus plans.
The U.S. allocated $168 billion earlier this year for tax rebates to individuals and tax breaks for businesses. Germany set aside $29 billion for tax breaks on new cars and credit assistance for companies. Japan allotted $275 billion for loans to small- and mid-sized businesses and discounts on highway tolls among other measures.
On Wednesday, finance officials from the G-20 group of major wealthy and developing nations convene in Washington to discuss a strategy for strengthening the global economy. Chinese President Hu Jintao is expected to attend.
China's statement said the Cabinet, at a meeting chaired by Premier Wen Jiabao, had "decided to adopt active fiscal policy and moderately easy monetary policies."
The statement said the spending would focus on 10 areas. They included picking up the pace of spending on low-cost housing -- an urgent need in many parts of the country -- as well as increased spending on rural infrastructure.
Money will also be poured into new railways, roads and airports. Spending on health and education will be increased, as well as on environmental protection and technology.
Spending on rebuilding disaster areas, such as Sichuan province where 70,000 people were killed and millions left homeless by a massive earthquake in May, will also be accelerated. That includes $2.93 billion planned for next year that will be moved up to the fourth quarter of this year.
The statement said rural and urban incomes would be increased.
Credit limits for commercial banks will also be removed to channel more lending to priority projects and rural development, it said.
Reform of the value-added tax system will cut taxes by $17.5 billion for enterprises, the statement said.
China Stimulus good for AIG
China announces $586 billion stimulus plan
Sunday November 9, 2:15 pm ET
By Scott Mcdonald, Associated Press Writer
China unveils $586 billion stimulus plan to fight effects of global meltdown
BEIJING (AP) -- China unveiled a $586 billion stimulus package Sunday in its biggest move to inoculate the world's fourth-largest economy against the global financial crisis.
The Cabinet approved a plan to invest the money in infrastructure and social welfare by the end of 2010, a statement on the government's Web site said.
ADVERTISEMENT
Some of the money will come from the private sector. The statement did not say how much of the spending is on new projects and how much is for ventures already in the pipeline that will be speeded up.
China's export-driven economy is starting to feel the pinch of weakening U.S. and European economies, and the government has already cut key interest rates three times in less than two months in a bid to spur economic expansion.
Economic growth slowed to 9 percent in the third quarter, the lowest level in five years and a sharp decline from last year's 11.9 percent.
That is considered dangerously slow for a government that needs to create jobs for millions of new workers who enter the economy every year and to satisfy a public that has come to expect steadily rising incomes.
Exports have been growing at an annual rate of more than 20 percent but analysts expect that may fall as low as zero in coming months as global demand weakens.
The International Monetary Fund has urged governments to adopt economic stimulus packages and, in some cases, to cut interest rates further, to counteract the slowdown.
China joins other major economies such as the U.S., Japan and Germany which have already introduced their own stimulus plans.
The U.S. allocated $168 billion earlier this year for tax rebates to individuals and tax breaks for businesses. Germany set aside $29 billion for tax breaks on new cars and credit assistance for companies. Japan allotted $275 billion for loans to small- and mid-sized businesses and discounts on highway tolls among other measures.
On Wednesday, finance officials from the G-20 group of major wealthy and developing nations convene in Washington to discuss a strategy for strengthening the global economy. Chinese President Hu Jintao is expected to attend.
China's statement said the Cabinet, at a meeting chaired by Premier Wen Jiabao, had "decided to adopt active fiscal policy and moderately easy monetary policies."
The statement said the spending would focus on 10 areas. They included picking up the pace of spending on low-cost housing -- an urgent need in many parts of the country -- as well as increased spending on rural infrastructure.
Money will also be poured into new railways, roads and airports. Spending on health and education will be increased, as well as on environmental protection and technology.
Spending on rebuilding disaster areas, such as Sichuan province where 70,000 people were killed and millions left homeless by a massive earthquake in May, will also be accelerated. That includes $2.93 billion planned for next year that will be moved up to the fourth quarter of this year.
The statement said rural and urban incomes would be increased.
Credit limits for commercial banks will also be removed to channel more lending to priority projects and rural development, it said.
Reform of the value-added tax system will cut taxes by $17.5 billion for enterprises, the statement said.
AIG Conference Call and Video's
Along with opinion posts. Earnings and Conference Call Monday Morning Conference Call to Broadcast Live on Internet at 8:30 A.M. EST Monday, November 10, 2008
NEW YORK--Nov. 7, 2008--American International Group, Inc. (AIG) will report its third quarter 2008 results at 6:00 a.m. EST on Monday, November 10, 2008. AIG's earnings release and financial supplement will be available in the Investor Information section of www.aigcorporate.com following the filing of AIG's Form 10-Q for the period ended September 30, 2008.
AIG Chairman and Chief Executive Officer Edward M. Liddy will host a conference call, broadcast live over the Internet, on Monday, November 10, 2008 at 8:30 a.m. EST to discuss AIG's third quarter results.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=33439350
Video's
http://www.cnbc.com/id/15840232?play=1&video=922637739
http://www.cnbc.com/id/15840232?play=1&video=922629459
Posts from another Board
Post 1
I've seen a few posts from some doom and gloomers over the last few hours that are light on understanding, while at the same using random cherry-picked facts to support a negative outcome. While none of us can be completely sure of what will happen, here is something to keep in mind based upon what early reports have said, as well as an overview of an important point not mentioned enough on this board:
The huge loss, which has been expected, is -.62 per share. This is not new news. ER should not differ radically from those projections unless there are big write-downs, but based upon news reports from Reuters (see some of my previous posts) and others that is not the case. That also doesn't fit with AIG's behavior so far: they have already paid down $2 billion on the loan. So it's really important for me to state unequivocally that the negotiation with the Fed has nothing to do with their expected losses, it has everything to do with alleviating onerous and hastily created terms in the original AIG deal, terms that are far harsher than what banks are getting under TARP.
But here's a very key point. Most of the money they've gotten has not been spent, it's been used as collateral. In other words, they are using it to reserve against potential bad debt. They still have the money! (This very important point hasn't been mentioned much on this board, but Hank Greenberg mentioned the collateral issue yesterday on CNBC.) Why is this important? Early reports are that the new deal will not only have more favorable rates over a longer period of time, akin to TARP, but will also ALLOW AIG TO SHED ITSELF OF SOME TOXIC DEBT, which would be HUGE for the stock price. Why? Because, if you no longer have that bad debt, then you no longer have to reserve (or collateralize) for it. That means that any newly freed-up money AIG took from the Fed could be paid back very quickly. This is akin to borrowing money from your parents because you think your car engine is about to blow, then somebody takes the car off your hands before you ever have to get it fixed. You can pay dad back pretty quickly cuz you never used the money.
Remember, as Greenberg and others have stated much lately, AIG's main problem is liquidity, not solvency. This is a solid going concern that just doesn't have enough cash around to reserve for their potential bad debt after the sub-prime pinch. Eliminate the debt that makes you need the cash, then you eliminate the liquidity problem.
Post 2
My take on AIG moving CC before Opening Bell 8-Nov-08 09:14 am
AIG is expected to lose big money this quarter,so CC was set up after the closing Monday .AIG was still negotiating with the Feds to do the deal on Friday . The deal must have been done. The Board is going to meet Sunday ,bless the deal and will announce it early Monday morning.
The Present deal was taken when Bush Administration thought the market is going to have a melt down. Bush was appearing on TV everyday to calm the crowd. Now the picture has become little more clear Paulson and the Administration can finally think with their heads than raw emotions.
AIG in talks with Fed over new bail-out
By Francesco Guerrera in New York
Published: November 8 2008 00:36 | Last updated: November 8 2008 00:36
AIG is asking the US government for a new bail-out less than two months after the Federal Reserve came to the rescue of the stricken insurer with an $85bn loan, according to people close to the situation.
AIG’s executives were on Friday night locked in negotiations with the authorities over a plan that could involve a debt-for-equity swap and the government’s purchase of troubled mortgage-backed securities from the insurer.
People close to the talks said the discussions were on-going and might still collapse, but added that AIG was pressing for a decision before it reports third-quarter results on Monday.
AIG’s board is due to meet on Sunday to approve the results and discuss any new government plan, they added.
The moves come amid growing fears AIG might soon use up the $85bn cash infusion it received from the Fed in September, as well as an additional $37.5bn loan aimed at stemming a cash drain from the insurer’s securities lending unit.
AIG has drawn down more than $81bn of the combined $122.5bn facility. The company’s efforts to begin repaying it before the 2010 deadline have been hampered by its difficulties in selling assets amid the global financial turmoil.
AIG executives have complained to government officials that the interest rate on the initial loan – 8.5 per cent over the London Interbank Borrowing Rate – is crippling the company.
They compared the loan’s terms with the 5 per cent interest rate paid by the banks that recently sold preferred shares to the government.
One of AIG’s proposals to the Fed is to swap the loan, which gave the authorities an 80 per cent stake in the company, for preferred shares or a mixture of debt and equity.
Such a structure would reduce the interest rate to be paid by AIG and possibly the overall amount it has to repay. An extension in the term of the loan from the current two years to five years is also possible, according to people close to the situation.
The renegotiation of the loan could be accompanied by the government’s purchase of billions of dollars in mortgage-backed securities whose steep fall in value has been draining AIG cash reserves.
AIG is also proposing the government buy the bonds underlying its troubled portfolio of credit default swaps in exchange for the roughly $30bn in collateral the company holds against the assets.
Losses on the mortgage-backed assets, which were acquired by AIG with the proceeds of its securities lending programme, and the CDSs caused the company’s collapse.
Since the government rescue, they have continued to haunt AIG, which is required to put up extra capital every time the value of these assets falls. AIG and the Fed declined to comment
My Auto Ins Bill came with this e-mail
This message went out to many customers. I like what I see thus far. Earnings and CC before the Bell.
AIG RESCHEDULES ANNOUNCEMENT OF THIRD QUARTER 2008 RESULTS
PDF Version
News Release Announcing Results Now Scheduled for 6:00 A.M. EST Monday, November 10, 2008
Conference Call to Broadcast Live on Internet at 8:30 A.M. EST Monday, November 10, 2008
NEW YORK--Nov. 7, 2008--American International Group, Inc. (AIG) will report its third quarter 2008 results at 6:00 a.m. EST on Monday, November 10, 2008. AIG's earnings release and financial supplement will be available in the Investor Information section of www.aigcorporate.com following the filing of AIG's Form 10-Q for the period ended September 30, 2008.
AIG Chairman and Chief Executive Officer Edward M. Liddy will host a conference call, broadcast live over the Internet, on Monday, November 10, 2008 at 8:30 a.m. EST to discuss AIG's third quarter results.
The audio webcast of the conference call can be accessed at www.aigwebcast.com.
A replay will be archived through Wednesday, November 26, 2008, at the same URL as well as by telephone. For domestic callers, the telephone replay number is 800-628-9698. For international callers, the telephone replay number is 203-369-3304.
It should be noted that the remarks made on the conference call may contain projections concerning financial information and statements concerning future economic performance and events, plans and objectives relating to management, operations, products and services, and assumptions underlying these projections and statements. It is possible that AIG's actual results and financial condition may differ, possibly materially, from the anticipated results and financial condition indicated in these projections and statements. Factors that could cause AIG's actual results to differ, possibly materially, from those in the specific projections and statements include developments in global credit markets and such other factors as are discussed in Item 1A. Risk Factors of AIG's Annual Report on Form 10-K for the year ended December 31, 2007, and in Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations of AIG's Quarterly Report on Form 10-Q for the period ended September 30, 2008. AIG is not under any obligation (and expressly disclaims any such obligation) to update or alter its projections and other statements whether as a result of new information, future events or otherwise.
Remarks made on the conference call may also contain certain non-GAAP financial measures. The reconciliation of such measures to the comparable GAAP figures will be included in the Third Quarter Financial Supplement available in the Investor Information section of AIG's corporate website, www.aigcorporate.com.
American International Group, Inc. (AIG), a world leader in insurance and financial services, is the leading international insurance organization with operations in more than 130 countries and jurisdictions. AIG companies serve commercial, institutional and individual customers through the most extensive worldwide property-casualty and life insurance networks of any insurer. In addition, AIG companies are leading providers of retirement services, financial services and asset management around the world. AIG's common stock is listed on the New York Stock Exchange, as well as the stock exchanges in Ireland and Tokyo.
CONTACT:
AIG
Charlene Hamrah (Investment Community)
212-770-7074
Joe Norton (News Media)
212-770-3144
kraken do a Complaint
This no Bid and past weeks and months spread is outright criminal.
For those that are tired of the Bs from the MMs and these Outlandish spreads on Mona here is the link to the SEC complaint center.
Its very important that as many Longs as possible put these complaints in and I would recommend replacing whomever are the current Mms that are doing this.
This activity by some Market Makers has had a major effect on our Money and our Stock. Try to put one in.
http://www.sec.gov/complaint.shtml
Smart Scan Chart Analysis is showing some near term weakness. However, this market remains in the confines of a longer term uptrend Uptrend with tight money management stops.
Based on a pre-defined weighted trend formula for chart analysis, MONA scored +75 on a scale from -100 (strong downtrend) to +100 (strong uptrend):
+10 Last Hour Close Above 5 Hour Moving Average
+15 New 3 Day High on Thursday
+20 Last Price Above 20 Day Moving Average
-25 New 3 Week Low, Week Ending October 25th
+30 New 3 Month High in September
+75 Total Score
formal announcements of the pay dates, and other relevant detail
"In other corporate events, the company acknowledges its shareholders' requests and will shortly be making formal announcements of the pay dates, and other relevant details of each and every previously announced dividend. Those documents and instruments are currently being organized, funded and finalized in concert with the company's transfer agent Heritage Trust."
MonArc (MONA) Andrea SA Peru Mine Filings
BEIJING, Nov. 5 /PRNewswire-FirstCall/ -- Further to the company's MonArc Corporation (MONA) http://www.monacorporation.com/ news announcement on various expansions and growth strategies the company is pleased to provide the following update to its shareholders and followers on the Peru mining pending merger.
The company has completed a set of filing with Pink Sheets including a comprehensive business description on the Peru targeted merger candidate. This is a comprehensive document that describes in easy to understand terms the potential this project may yield to the company.
This document is currently visible from the Pink Sheets home or index page but along with other filings dating from October 28th are not visible under the company's "filing Tab". The company has informed Pink Sheets of this and expects the error to be corrected shortly. The company also intends to post the same document on its web site http://www.monacorporation.com/ shortly.
The management of Mon Arc will be conducting their final review and a physical inspection of the Peru site from Nov 14 to Nov 25th and will report back promptly. The company continues to discuss buy out proposals for its existing operating subsidiary PP365. Since announcing the Peru mining project, the company has also received other unsolicited and somewhat attractive proposals for this project as well which are under consideration.
In other corporate events, the company acknowledges its shareholders' requests and will shortly be making formal announcements of the pay dates, and other relevant details of each and every previously announced dividend. Those documents and instruments are currently being organized, funded and finalized in concert with the company's transfer agent Heritage Trust.
Safe Harbor statement under the Private Securities Litigation Reform Act of 1995: Certain information contained in this release contains forward-looking statements that involve risk and uncertainties, including but not limited to, those relating to development and expansion activities, domestic and global conditions, and market competition.
Get the Facts Right. The issuer works hard to continue to keep our shareholders informed, and news is updated frequently via Press Releases, Pink Sheet http://www.pinksheets.com/ filings, and updates to our websites. Other websites not sponsored, or recognized by the Company may provide misleading or disinformation to investors in order to manipulate trading patterns for a given stock. Always look for original content from trusted sources, rather than relying on 'excerpts' or discussion boards that may not give you the whole story. The Securities and Exchange Commission requires financial institutions or brokerage firms to provide their clients with documentation describing the risks of investing in penny stocks.
CONTACT: For corporate matters contact
DATASOURCE: MonArc Corporation (MONA)
CONTACT: For corporate matters contact
This is a MONA Board
not RMDM, man talk about a fixed board.
MonArc (MONA) PP365.com Formulate Development And Strategy Of Games
BEIJING, Nov. 4 /PRNewswire-FirstCall/ -- Further to the company's MonArc Corporation (MONA) http://www.monacorporation.com/ news announcement on various expansions and growth strategies the company is pleased to provide the following update to its shareholders and followers.
At present, a global economic crisis is spreading all over the world, impacting most industries. As the cheapest form of entertainment, the online games industry seems to be becoming a safe haven in this crisis, and some experts predict the gaming industry will mildly be impacted by the recession, if at all.
PP365.com has been optimistic about online games industry. It develops and acts as agent for a variety of online games as well. A few days ago, the company's management further determined the development strategy of games, decided to integrate all the company's games and establish a unified gaming platform, which will include board games and other recreational games, such as web game, a large-scale network operation. At present, the platform has entered the stage of planning and development. We are determined to build it one of the most influential gaming platforms in China.
Safe Harbor statement under the Private Securities Litigation Reform Act of 1995: Certain information contained in this release contains forward-looking statements that involve risk and uncertainties, including but not limited to, those relating to development and expansion activities, domestic and global conditions, and market competition.
Get the Facts Right. The issuer works hard to continue to keep our shareholders informed, and news is updated frequently via Press Releases, Pink Sheet http://www.pinksheets.com/ filings, and updates to our websites. Other websites not sponsored, or recognized by the Company may provide misleading or disinformation to investors in order to manipulate trading patterns for a given stock. Always look for original content from trusted sources, rather than relying on 'excerpts' or discussion boards that may not give you the whole story. The Securities and Exchange Commission requires financial institutions or brokerage firms to provide their clients with documentation describing the risks of investing in penny stocks.
CONTACT: For corporate matters contact
DATASOURCE: MonArc Corporation (MONA)
CONTACT: For corporate matters contact
<< Back
This is a RMDM Board
stay on topic with RMDM.
We are a live
about time and good luck to all of us.
You State
the short answer is YES!!!
value coming into this....and a/s is 25 million.....looking for some communication from company soon...
Nice I-Box good job tallstahl
thumperclown you have been here a long
time as long as me and a few others.
Post Unavailable
Additional Information
SEC Complaint Filed Bigdogs
This spread is outright criminal.
You State
For those that are tired of the Bs from the MMs and these Outlandish spreads on Mona here is the link to the SEC complaint center.
Its very important that as many Longs as possible put these complaints in and I would recommend replacing whomever are the current Mms that are doing this.
This activity by some Market Makers has had a major effect on our Money and our Stock. Try to put one in.
http://www.sec.gov/complaint.shtml
darlene Good Idea IMO
Watch the Doomsdayers!
You State
MINAR MAR (GARR) has been instrumental in the Dealing between MONA and RDMD. Now RDMD has signed on with China Telecom. That is a good enough proof to me that MINA and GARR is legit. I WILL continue to buy more at these level. Go MONA
Agree Bigdogs
MONA,LDSR,RMDM
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=33118943
You State
Captain,
I qualify for the cash divy that will be given out for PP365.
and I along with most others should qualify for the next 4 soon to come out.
These 4 are looking like they can be very good companies in the future.
RMDM just announced a major contract with China Telecom and LDSR may have the most potential out of all of the dividends.
Mona is worth a tremendous amount more than it is now with all of these companies underneath its umbrella until divied out to Longs.
I can see Mona back into the pennies once this turns back up.
WAY OVERSOLD HERE
Jaws Yes as far as I know
IMO being in Companies that are doing business in China and not here in the US is the place to be. Garr Winters has a good re-pore with the Chinese and has proven that even though some will discredit him.
RMDM, MONA and LDSR look real good to me. I am sure other Chinese Companies will be forth coming because of Mr. Winters involvement and those who hold MONA will receive dividends from these new ventures IMO.just read the Press Releases and Filings.
You state
Is Wynn Wang our new CEO? Am I correct?
RMD Entertainment Group (RMDM) Casino Gaming Forward Guidance, (MONA) Dividend
BEIJING, Oct 23, 2008 /PRNewswire-FirstCall via COMTEX/ -- The Company (www.rmdmgroup.com) recently announced a planned acquisition of TiDiGaming of Australia. TiDiGaming holds the rights to about 80 new Asian style casino based table games for introduction into the casino industry. Mr. Garr Winters, Director of Business Development with the company said "Our due diligence process into TiDiGaming continues and so far all systems are a go for a close of this transaction shortly. What peaked our interest and continues to look particularly encouraging is the excellent industry interest, and support in new and different casino table games. Our projected revenues for the first 3 years with TiDi Gaming with such a large suite of games is in excess of 20 million dollars USD from the predominately dice and tile based games."
In other corporate developments, the RMD Entertainment Group intends to recapitalize in order to (amongst other things) complete payment due to Mon Arc Corporation (MONA) for the asset purchase of Beijing Innotrek Technology CO., Ltd which will be issued as a 1 time special dividend to MONA shareholders and to fund 2 separate and distinct litigation matters namely to recover between approximately 3.5 to 4.7 billion shares and have them returned to the treasury.
A filing of the above recapitalization with a detailed outline can be found by visiting www.pinksheets.com symbol RMDM under the filings tab, or by following this direct link http://www.pinksheets.com/otciq/ajax/showFinancialReportById.pdf?id=17905
The issuer intends to provide further updates shortly.
Safe Harbor statement under the Private Securities Litigation Reform Act of 1995: Certain information contained in this release contains forward-looking statements that involve risk and uncertainties, including but not limited to, those relating to development and expansion activities, domestic and global conditions, and market competition.
Get the Facts Right. The issuer works hard to continue to keep our shareholders informed, and news is updated frequently via Press Releases, Pink Sheet www.pinksheets.com filings, and updates to our websites. Other websites not sponsored, or recognized by the Company may provide misleading or disinformation to investors in order to manipulate trading patterns for a given stock. Always look for original content from trusted sources, rather than relying on 'excerpts' or discussion boards that may not give you the whole story. The Securities and Exchange Commission requires financial institutions or brokerage firms to provide their clients with documentation, describing the risks of investing in penny stocks.
CONTACT: www.minamargroup.com/helpdesk
SOURCE RMD Entertainment Group Inc.
www.prnewswire.com
RMD Entertainment Group (RMDM) Closes Deal With China Telecom
BEIJING, Oct 24, 2008 /PRNewswire-FirstCall via COMTEX/ -- The Company RMDM (www.rmdmgroup.com) and its operating subsidiary Innotrek, Beijing today after the market closed, announced that during the 5th China-ASEAN Expo which was held in Nanning, Guangxi from Oct. 22 to 25, the business cooperation agreement between China Telecom Guangxi Branch and Beijing Innotrek was completed.
Mr. Wynn Wang the issuers CEO said, "The objective of this agreement is to use Innotrek's products for broadband Internet and accessing of residential areas in all Guangxi Zhuang Autonomous Region. Guangxi Zhuang Autonomous Region is one of the provinces in southwest China with a population of over 50 million people and consists of about 240,000 km(2) area. Guangxi also locate the upstream of Mekong River Basin and has frontiers with Burma and Vietnam.
Access to Innotrek's proprietary technology was provided to China Telecom Guangxi for further tests and technical preparations to assist both sides in the launch of this project. We expect and project revenues of this project to be in the area of 6 to 10 million USD within the next 12 to 18 months after full roll out is complete."
The China-ASEAN Expo, is the platform of economic and trade between China and ASEAN Member States. ASEAN States consist of: Brunei Darussalam, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam.
Mr Wang concluded by saying "This is an annual event proposed by China and 10 ASEAN Member States since 2003. Mr. Wang Qishan, Vice Premier of the State Council of the People's Republic of China and Mr. Samdech Hun Sen, Prime Minister of the Kingdom of Cambodia attended the opening ceremony. The Kingdom of Cambodia rotates as Chairman of the Presidency of the China-ASEAN Expo this year. It is our privilege and honor to acknowledge that Beijing Innotrek was recommended by Beijing Science and Technology Commission to take part in this Expo."
The issuer intends to provide further updates shortly, through their Investment Relations Company only.
Safe Harbor statement under the Private Securities Litigation Reform Act of 1995: Certain information contained in this release contains forward-looking statements that involve risk and uncertainties, including but not limited to, those relating to development and expansion activities, domestic and global conditions, and market competition.
Get the Facts Right. The issuer works hard to continue to keep our shareholders informed, and news is updated frequently via Press Releases, Pink Sheet www.pinksheets.com filings, and updates to our websites. Other websites not sponsored, or recognized by the Company may provide misleading or disinformation to investors in order to manipulate trading patterns for a given stock. Always look for original content from trusted sources, rather than relying on 'excerpts' or discussion boards that may not give you the whole story. The Securities and Exchange Commission requires financial institutions or brokerage firms to provide their clients with documentation, describing the risks of investing in penny stocks.
CONTACT: www.minamargroup.com/helpdesk
SOURCE RMD Entertainment Group Inc.
www.prnewswire.com
RMD Entertainment Group (RMDM) Closes Deal With China Telecom
Beijing Innotrek Technology CO
Beijing Innotrek Technology CO., Ltd, established in November 2003, is a high
technology enterprise certified by the Science committee of Beijing. Innotrek
specializes in high technology network communications and is at the worldi´s
leading edge, particularly, in the development of cable-exempted LAN
construction.
Innotrek holds intellectual property rights to all its products and has even attained
various patent rights to its technology. All research and development were
carried out according to the requirements of ISO 9000 to ensure quality of
excellence of products developed.
Main drivers for company’s businesses : Marketing Team and Technical Team
Mr. Wynn Wang as Managing Director
Mr. Tao Cheng as Technical Director
Mr. Wu Dan as Assistant MD.
Product
Beijing Jiaotong University is currently the base for production and development
of i`Innotrek Intelligent Broadband LAN Systemi^. The research team is headed by
Mr. Tao Cheng, Technical Director of Innotrek. As business expands to meet up
with the targets, a larger scale of production is required. Innotrek would
outsource to overseas for manufacturing, where Innotrek will be an ODM. This
would effectively save costs and raise productivity. For this, Innotrek is in the
midst of contractual negotiations with Taiwan. Once agreements were made,
Innotrek would shift production to manufacturing plant in Taiwan Accex Pte Ltd.
Service
Installation of broadband network will be done by well-trained internal staff of
Innotrek. As business expands, more technical staff will be employed to cater to
the growing needs. Upon establishment of network system in the hotels, hotel
employees will be trained by technical staff from Innotrek to handle basic
technical problems. The quality of technology service provided is maintained with
efficient 24 hours customer service.
Our project i`Advanced Broadband Technology Installation Service for Hotelsi^ is
not a one-off payment product business, but rather, one that receives payment
from clients on a regular basis, thus another component of business for this
project lies in the after-sales service, which includes maintenance and necessary
repair work to ensure quality of excellence of the network system. These would
be done by our professional technical employees.
http://www.pinksheets.com/otciq/ajax/showFinancialReportById.pdf?id=17774
Stratey why ask me ask them
You state
I can tell you with certainty, that if you follow the money trail, it won't lead you to me.
How is that lawsuit going anyway?
Did they ever actually file it in Canada? Why don't they file it in Iceland too?
Ask the right people greedy__malone
not a poster here.
You state
CaptainD2u does RMD currently own and operate P365.com?
It is a simple question. There are only two options. Yes or no.
Did they aquire PP365.com?
What does it say on the RMDM website?
That is false and misleading. They have had days to correct the website to remove references to PP365 until such time that an actual deal is closed but thye have not done so.
For days now they have continued to use PP365 on their website as a company they own and operate which is a total fabrication.
greedy__malone why don't you contact
The IR Firm both for RDMD and MONA you seen to have negative issues on bothe but do not go to the source for some reason to get answers. Wonder why?
You state
recently announced a planned acquisition of TiDiGaming of Australia.
Well there is little to no infomration available anywhere for TiDi Gaming. Another hyped up PR with no meat. Anybody here have anything at all that is verifiable for TiDi Gaming?
I spent some time searching yesterday, and will do some more today and I find absolutely nothing on this company.
And others just as Guilty
From the I-Box above
MonArc (MONA) 50 Million Share Buyback Program (UPDATE FILING)
Issuer joins as a Beneficiary claimant against Investors Hub.
The issuer has ordered an actual certified share count from its transfer agent Heritage Trust and will post the same on Pink Sheets showing the current share structure sum and the updated share structure once the buy back is completed.
In other updates the issuer has joined in the litigation matter as a beneficiary against Investors Hub. A copy of the email intent and instructions are enclosed from the corporate advisors barrister, together with what appears to be a self serving letter from Investors Hub .
http://www.pinksheets.com/otciq/ajax/showFinancialReportById.pdf?id=17015
Not when their NSS
And we all know it happens with MONA don't we?
You state
doesn't EVERY SELL have to have a BUY? even with MONA?
breezin_chs a Cash Divy
would be nice.
MonArc Corporation (MONA) Update PP365 Sale of Assets to (RMDM) Cash Dividend
BEIJING, Oct. 21 /PRNewswire-FirstCall/ -- monacorporation.com PINKSHEETS: MONA.PK is providing the following update vis-a-vis sale of its operating subsidiary PP365.Com to RMD Entertainment Group Inc. (RMDM). MonArc Corp. recently announced that it is currently in discussions to sell both of its operating divisions PP365.Com (China game developer) and its rights to Innotrek (A China based broadband provider) on a cash and stock basis to RMD Entertainment Group Inc. (RMDM) http://www.rmdmgroup.com/. As previously announced, MonArc Corp. did close the transaction with RMD Entertainment Group on the Innotrek transaction. Over the past weekend MonArc management received an unsolicited all cash buyout proposal for the assets of PP365 from a completely separate and unrelated entity. The unsolicited, all cash buyout proposal comes literally in the 11th hour as both MonArc Corp. and RMD Entertainment were ironing out the final details of their transaction, and final preparations to close the deal were being done.
Mr. Yang, a spokesperson for MonArc, said, "We have a fiduciary duty to our shareholders to examine every proposal and to make a determination as to what is in the best interest of our shareholders. The agreement between MONA and RMDM contained an escape clause for the benefit of MonArc Corp. should another buyer come forth before the closing of the transaction with RMD Entertainment Group. That contract, and clause was drafted by Mr. Winters. It also contained a non conflict of interest clause as Mr. Garr Winters acts in the capacity of a secretary with MonArc Corp. and an interim CEO with RMD Entertainment. Mr. Winters added, "It was my sincere wish that PP365 take off sky high with RMDM as it really never received the respect in terms of price per share with MONA that it deserved. This all cash proposal caught all of us off guard, but needless to say the MonArc management is pleased to have had the opportunity to entertain this new proposal from a separate buyer. MonArc management is continuing its due diligence process for the Peru South America mining company merger, regardless."
Mr. Wynn Wang, CEO of RMD Entertainment Group, said, "Based on what we have been presented with, we cannot match the all cash offer to MonArc for PP365. If the all cash buyer does come through we wish them well. If that deal does not happen we would still be interested for PP365 on the same terms as previously presented. At this point with Innotrek and the Australian game maker on our plate we have more than enough to keep us busy. I just wish to use this opportunity to extend our gratitude to all sides for an absolute positive and professional conduct from all concerned."
Mr. Yang, a spokesperson for MonArc, said, "Obviously if the cash deal for PP365 does come to a fruition, the dividend due to MONA shareholders from RMDM will only be for the purchase of Innotrek and will be prorated accordingly. Additionally should the all cash deal for PP365 materialize the MonArc management is currently entertaining the idea of paying part or entire cash amount to its shareholder base, or shareholders on record since about spring of 2008. At this point this topic is all very preliminary, and in its infancy. Should the all cash deal come to fruition, this will be the 6th dividend in cash and stock MONA will have paid out to its shareholders by December 31, 2008.
It goes without saying that for a Pink Sheet company this is unprecedented and being an unsolicited stock for one is simply beyond the grasp of many in the industry. MonArc Corp. is truly a unique and one of a kind company."
Safe Harbor statement under the Private Securities Litigation Reform Act of 1995: Certain forward information contained in this release contains forward-looking statements that involve risk and uncertainties, including but not limited to, those relating to development and expansion activities, domestic and global conditions, and market competition.
Get the Facts Right. The issuer works hard to continue to keep our shareholders informed, and news is updated frequently via Press Releases, Pink Sheet http://www.pinksheets.com/ filings, and updates to our websites. Other websites not sponsored, or recognized by the Company may provide misleading or disinformation to investors in order to manipulate trading patterns for a given stock. Always look for original content from trusted sources, rather than relying on 'excerpts' or discussion boards that may not give you the whole story. The Securities and Exchange Commission requires financial institutions or brokerage firms to provide their clients with documentation, describing the risks of investing in penny stocks.
For corporate matters contact:
CONTACT: For corporate matters contact:
DATASOURCE: MonArc Corporation (MONA)
CONTACT: For corporate matters contact:
<< Back
Agree War_Eagle215' to many here
post opinions and do not go to ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------For today's date and future date...This is a place to get info for MONA:http://www.pinksheets.com/pink/index.jsp
Lets all get along
Jacko here you go
Posted by: Mr Goodlife Date: Monday, October 20, 2008 12:12:17 PM
In reply to: kraken who wrote msg# 114508 Post # of 114716
Yep "Just plain criminal...Nice spread too"
as well as other things
jacko768 here you go
This will give you an idea.
From the I-Box above
MonArc (MONA) 50 Million Share Buyback Program (UPDATE FILING)
Issuer joins as a Beneficiary claimant against Investors Hub.
The issuer has ordered an actual certified share count from its transfer agent Heritage Trust and will post the same on Pink Sheets showing the current share structure sum and the updated share structure once the buy back is completed.
In other updates the issuer has joined in the litigation matter as a beneficiary against Investors Hub. A copy of the email intent and instructions are enclosed from the corporate advisors barrister, together with what appears to be a self serving letter from Investors Hub .
http://www.pinksheets.com/otciq/ajax/showFinancialReportById.pdf?id=17015
Lets all get along
HMMM 39 Million
on MONA
2008/10/21 0.0011 0.0020 0.0010 0.0010 38,880,611 0.0010
2008/10/20 0.0020 0.0025 0.0010 0.0013 25,066,400 0.0013
2008/10/17 0.0022 0.0022 0.0020 0.0020 27,857,228 0.0020
2008/10/16 0.0020 0.0030 0.0020 0.0022 20,203,450 0.0022
2008/10/15 0.0030 0.0030 0.0020 0.0023 25,399,634 0.0023
2008/10/14 0.0030 0.0030 0.0020 0.0025 27,195,300 0.0025
2008/10/13 0.0030 0.0030 0.0020 0.0020 5,588,684 0.0020
2008/10/10 0.0030 0.0035 0.0020 0.0022 4,745,323 0.0022
The company (MONA)that is putting this all together traded sum 39,000,000 shares today too..FYI.Regards,CaptD.
HMMM 39 Million
on MONA
2008/10/21 0.0011 0.0020 0.0010 0.0010 38,880,611 0.0010
2008/10/20 0.0020 0.0025 0.0010 0.0013 25,066,400 0.0013
2008/10/17 0.0022 0.0022 0.0020 0.0020 27,857,228 0.0020
2008/10/16 0.0020 0.0030 0.0020 0.0022 20,203,450 0.0022
2008/10/15 0.0030 0.0030 0.0020 0.0023 25,399,634 0.0023
2008/10/14 0.0030 0.0030 0.0020 0.0025 27,195,300 0.0025
2008/10/13 0.0030 0.0030 0.0020 0.0020 5,588,684 0.0020
2008/10/10 0.0030 0.0035 0.0020 0.0022 4,745,323 0.0022
The company (MONA)that is putting this all together traded sum 39,000,000 shares today too..FYI.Regards,CaptD.
Your in the I-Box under news flash
RMDM DD Repost: From The Rainmaker
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=33004827