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MARINE-1 I don't disagree with you
That is for sure. Nothing to date.
****************
Come on MR G
"Our targeted subsidiaries"
RED FLAG man!!!!!!
I wouldn't put a darn dime in anything these crooks deal with, geeese.............. school of hard knocks just keeps on bringing it.
GLGT is in the final stages of a merger with a cosmetics company and a Bio Tech company. Our corporate goals are to be a progressive, profitable company that is always improving results and is recognized by its employees for providing opportunities to grow. ,Our targeted subsidiaries are appreciated by its customers and suppliers for providing quality products and services.
Customers are the focus of everything we do. Our mission is to provide exceptional value in products and services.
http://www.pinksheets.com/pink/quote/quote.jsp?symbol=glgt#getCompanyInfo
Hope so Capt
As well as others!
"I suspect this NEWS will come this week. My understanding of the deal is that MONA shareholders will get a divi from the sale of ITI. Regards,CaptD."
Volume O
EOM
hello moores2009
Lets have a good day
DMOST Thanks I Saw
That while checking around. VSTN sure has a lot of divisions.
*********************
For answers to all of your frequently asked questions, this is the site you should visit:
http://www.visteon.com/reorganization/
Just look at "Frequently asked questions" under each header.
GLTA
This is good.
According to Visteon's latest quarterly filing with regulators, the company had total liabilities of $3.96 billion and total assets of $4.56 billion at March 31. Cash and short-term investments totaled $625 million.
********************
Ford to provide $125M to Visteon in Chapter 11
Ford to provide $125 million to aid parts supplier Visteon in bankruptcy protection
On Thursday June 4, 2009, 1:58 pm EDT
Buzz up! Print Related:Ford Motor Co., Visteon Corp.
VAN BUREN TOWNSHIP, Mich. (AP) -- Ford Motor Co. will provide $125 million or more in debtor-in-possesion financing to Visteon Corp. as the automotive parts supplier reorganizes under Chapter 11 bankruptcy protection.
Related Quotes
Symbol Price Change
F 6.36 +0.18
VSTN.PK 0.11 +0.00
{"s" : "f,vstn.pk","k" : "c10,l10,p20,t10","o" : "","j" : ""} In a Securities and Exchange Commission filing Thursday, Visteon, which filed for bankruptcy protection last week, said its former parent company would provide aid and also take assignment of Visteon's asset-backed loans under a revolving credit facility.
Visteon is Ford's main supplier, and both companies are looking to other creditors to help subsidize Visteon's operations while it is under bankruptcy protection, according to the filing.
Visteon, hurt by automakers slowing production due to steep declines in sales, sought bankruptcy protection for its U.S. units in May. The company's UK division separately filed for bankruptcy protection in April, closing three British plants.
According to Visteon's latest quarterly filing with regulators, the company had total liabilities of $3.96 billion and total assets of $4.56 billion at March 31. Cash and short-term investments totaled $625 million.
Dearborn-based Ford is the only major U.S. automaker free from government aid and not under bankruptcy protection. Chrysler LLC filed for bankruptcy protection in April, and General Motors filed on Monday.
http://finance.yahoo.com/news/Ford-to-provide-125M-to-apf-15441116.html?.v=1
Grumman G21a if we own other VSTN Divisions then
we VSTN Shareholders could get Spin Offs of their other Divisions or at least something of value wouldn't you agree?
*******************
Yes we own them as well.
***************
That the U.S. portion of the company is in BK, then do you think the common VSTN shareholders would own parts of the other VSTN divisions? Here is a link to all their locations.
WORLDWIDE
Asia Pacific
Europe
North America
South America
http://vlocationdb.visteon.com/user/index.cgi
Frequently asked Questions
http://www.visteon.com/faq/investors.html
***********************
Seems to be more to this then meets the eye,also remember it's only the U.S. portion of the company thats in BK.
moores2009 sure give it a shot
It certainly can not do any harm. I am stepping out can you do it.
Thanks
Visteon Corp.
One Village Center Drive
Van Buren Township, MI 48111
http://www.visteon.com
* Phone: (800)-VISTEON
moores2009 how can we find out, any ideas?
Grumman G21a if that's the case
That the U.S. portion of the company is in BK, then do you think the common VSTN shareholders would own parts of the other VSTN divisions? Here is a link to all their locations.
WORLDWIDE
Asia Pacific
Europe
North America
South America
http://vlocationdb.visteon.com/user/index.cgi
Frequently asked Questions
http://www.visteon.com/faq/investors.html
***********************
Seems to be more to this then meets the eye,also remember it's only the U.S. portion of the company thats in BK.
***********************
I havnt heard anyone on the board nail that one down yet.
DMOST thank's for your analysis.
This all looks good. Been burned in the past but VSTN seems to be not your average BK. FORD being involved is a plus.
DETROIT, June 4 (Reuters) - Ford Motor Co (F.N) has agreed to provide at least $125 million of financing to support former parts unit Visteon Corp's (VSTN.PK) restructuring under Chapter 11 bankruptcy protection, Visteon said on Thursday.
The auto parts supplier, spun off from Ford in 2000, filed for bankruptcy last week, becoming the latest casualty of the global auto industry crisis and adding to the pressure on cash-strapped automakers.
At the time of the filing, Visteon said the No. 2 U.S. automaker had made a commitment to support bankruptcy financing for its restructuring efforts to ensure a continued supply of parts, but had not detailed the size of the financing.
In a filing with the U.S. Securities and Exchange Commission on Thursday, the company said Ford would provide no less than $125 million under the terms of a senior, super-priority debtor-in-possession revolving credit facility.
Visteon is also in discussions with customers other than Ford regarding commitments to the credit facility, the company said. The finalized bankruptcy financing facility must be in place by June 30, when Ford's commitment is set to expire.
Ford, the only U.S. automaker operating without emergency government loans, is struggling to survive the worst auto sales slump in nearly three decades that has sent U.S. rivals Chrysler and General Motors Corp (GM.N) into bankruptcy.
Ford is still Visteon's biggest customer and accounted for about 31 percent of its $1.35 billion of sales last quarter. (Reporting by Soyoung Kim, editing by Maureen Bavdek)
http://www.reuters.com/article/marketsNews/idINN0419764420090604?rpc=44
***********************
BK's see institutional share holders exit first, normally with a fast a furious pace and the price drops significately because they get rid of all their holdings, panic selling takes hold and it is all reflected in the price on that particular day. Here, that happen on a 93m volume day(28th May), but support was garnished around .07 and it held niecely. Now there are only a few institutions holding, none major and the commons are held by basically speculators and traders. The MFFAIS web site shows all institutional and fund holders and from my last check the holdings where relatively small. The major shares are in the market already and unless there is some panic selling, if and when the Q happens this will hold very well, barring any more negative new from the company. Also the company is issuing shares to insiders, which gives the felling that they will maintian share value.
IMO
"PEACE"
Grumman G21a if that's the case
That the U.S. portion of the company is in BK, then do you think the common VSTN shareholders would own parts of the other VSTN divisions? Here is a link to all their locations.
WORLDWIDE
Asia Pacific
Europe
North America
South America
http://vlocationdb.visteon.com/user/index.cgi
Frequently asked Questions
http://www.visteon.com/faq/investors.html
***********************
Seems to be more to this then meets the eye,also remember it's only the U.S. portion of the company thats in BK.
06mets Thanks
For your opinion.
*******************
every new investor is aware of the bk, past sellers are almost out who got spoofed by it, tiny market cap, and most of all my opinion, went to .02 on bk news ,this is a big time bounce play, mm's made a fortune takin it down to .02 , now its time to bring it up to respectability .25-.40 short term imo
moores2009 Thanks, do you have an idea
on the time limit for them getting themselves out of bk?
***************************
I dont think the q is related to if the commons get wiped out or not, and from what ive seen in the past, sometimes adding the q makes it drop temporarily, but not always, and the commons getting wiped out pretty much depends on what kind of deals they make to get themselves out of bk, hope that helps a bit.
Grumman G21a That's what puzzles me.
If it does not happen then it could be the commons will be OK for shareholders.
***************************
My best guess is it may not happen as they already had their first day motions,and should have had a Q by the next day one would think.
06mets can you explain why
you think this? Appreciated.
***************
imo no way, its factored in to the price
Thanks
EOM
Grumman G21a question
what happens in your opinion when the Q is added.Do you think it will drop?
Thanks
• those factors identified in our filings with the Securities and Exchange Commission (including our Annual Report on Form 10-K for the fiscal year ended Dec. 31, 2008).
The risks and uncertainties and the terms of any reorganization plan ultimately confirmed can affect the value of our various pre-petition liabilities, common stock and/or other securities. No assurance can be given as to what values, if any, will be ascribed in the bankruptcy proceedings to each of these constituencies. A plan of reorganization could result in holders of our liabilities and/or securities receiving no value for their interests. Because of such possibilities, the value of these liabilities and/or securities is highly speculative. Accordingly, we urge that caution be exercised with respect to existing and future investments in any of these liabilities and/or securities. Investors and other interested parties can obtain information about our Chapter 11 filing on the Internet at www.visteon.com/reorganization. Court filings and claims information are available at www.kccllc.net/visteon. Caution should be taken not to place undue reliance on our forward-looking statements, which represent our view only as of the date of this Current Report on Form 8-K, and which we assume no obligation to update.
************************
8-k out today
http://biz.yahoo.com/e/090604/vstn.pk8-k.html
About time midas716
I like those 55 Chevs LOL.
"Cuba Agrees to Resume Immigration Talks With U.S.
By Mary Beth Sheridan
Washington Post Staff Writer
Monday, June 1, 2009
http://www.washingtonpost.com/wp-dyn/content/article/2009/05/31/AR2009053101078.html?hpid=moreheadlines
***These are the highest level talks the US and Cuba have had in over 40 years. Many progressions have been made but I do agree where it says Cuba(Raul Castro) must make more concessions if Cuba wants full diplomatic relations. If i had to guess. Possibly an embassy by the end of Obama's first term and diplomatic relations by the end of his second. This isn't the only article I can provide there are more positive things happening. This is just the lates.
So, not to 'offend', but some of 'we people' actually do read the news and are better informe before we make nonbsense statements like the one you made above."
Excellent ETF_TA, Thanks!
A lot of work on your part. We are in a false market IMO and most everyone loves our Pres. The confidence level in people is high and he can do no wrong.
Well, I would think this pace can not go on forever!!!!!!!.
My kind of marine.
I posted this a while back, thought it proper to do it again this day!!!!!!!!!!
***********************
J..D. Pendry is a retired Marine Sergeant Major who writes for Random House. He is eloquent, and as taught by the Marines, he seldom beats around the bush..
'The Axis of Idiots'
Jimmy Carter, you are the father of the Islamic Nazi movement. You threw the Shah under the bus, welcomed the Ayatollah home, and then lacked the spine to confront the terrorists when they took our embassy and our people hostage. You're the runner-in-chief.
Bill Clinton, you played ring around the Lewinsky while the terrorists were at war with us. You got us into a fight with them in Somalia and then you ran from it. Your weak-willed responses to the USS Cole and the First Trade Center Bombing and Our Embassy Bombings emboldened the killers. Each time you failed to respond adequately, they grew bolder, until
9/11/2001.
John Kerry, dishonesty is your most prominent attribute. You lied about American Soldiers in Vietnam . Your military service, like your life, is more fiction than fact. You've accused our military of terrorizing women and children in Iraq .. You called Iraq the wrong war, wrong place, wrong time, the same words you used to describe Vietnam . You're a fake. You want to run from Iraq and abandon the Iraqis to murderers just as you did to the Vietnamese.. Iraq , like Vietnam , is another war that you were for, before you were against it.
John Murtha, you said our military was broken. You said we can't win militarily in Iraq . You accused United States Marines of cold-blooded murder without proof and said we should redeploy to Okinawa . Okinawa, John? And the Democrats call you their military expert! Are you sure you didn't suffer a traumatic brain injury while you were off building your war hero resume? You're a sad, pitiable, corrupt and washed up politician. You're not a Marine, sir. You wouldn't amount to a good pimple on a real Marine's butt. You're a phony and a disgrace. Run away, John .
Dick Durbin, you accused our Soldiers at Guantanamo of being Nazis, tenders of Soviet style gulags and as bad as the regime of Pol Pot , who murdered two million of his own people after your party abandoned Southeast Asia to the Communists. Now you want to abandon the Iraqis to the same fate. History was not a good teacher for you, was it? Lord help us! See Dick run.
Ted Kennedy, for days on end you held poster-sized pictures from Abu Ghraib in front of any available television camera. Al Jazeera quoted you saying that Iraqi's torture chambers were open under new management. Did you see the news, Teddy? The Islamic Nazis demonstrated another beheading for you. If you truly supported our troops, you'd show the world poster-sized pictures of that atrocity and demand the annihilation of it. Your legislation stripping support from the South Vietnamese led to a communist victory there. You're a bloated, drunken fool bent on repeating the same historical blunder that turned freedom-seeking people over to homicidal, genocidal maniacs. To paraphrase John Murtha, all while sitting on your wide, gin-soaked rear-end in Washington
Nancy Pelosi, Harry Reid, Carl Levine, Barbara Boxer, Diane Feinstein, Russ Feingold, Hillary Clinton, Pat Leahy, Barack Obama, Chuck Schumer, the Hollywood Leftist morons, et al, ad nauseam: Every time you stand in front of television cameras and broadcast to the Islamic Nazis that we went to war because our President lied, that the war is wrong and our Soldiers are torturers, that we should leave Iraq, you give the Islamic butchers - the same ones that tortured and mutilated American Soldiers - cause to think that we'll run away again, and all they have to do is hang on a little longer. It is inevitable that we, the infidels, will have to defeat the Islamic jihadists. Better to do it now on their turf, than later on ours after they have gained both strength and momentum.
American news media, the New York Times particularly: Each time you publish stories about national defense secrets and our intelligence gathering methods, you become one united with the sub-human pieces of camel dung that torture and mutilate the bodies of American Soldiers. You can't strike up the courage to publish cartoons, but you can help Al Qaeda destroy my country. Actually, you are more dangerous to us than Al Qaeda is. Think about that each time you face Mecca to admire your Pulitzer.
You are America 's 'AXIS OF IDIOTS.' Your Collective Stupidity will destroy us. Self-serving politics and terrorist-abetting news scoops are more important to you than our national security or the lives of innocent civilians and Soldiers. It bothers you that defending ourselves gets in the way of your elitist sport of politics and your ignorant editorializing. There is as much blood on your hands as is on the hands of murdering terrorists. Don't ever doubt that. Your frolics will only serve to extend this war as they extended Vietnam . If you want our Soldiers home as you claim, knock off the crap and try supporting your country ahead of supporting your silly political aims and aiding our enemies.
Yes, I'm questioning your patriotism. Your loyalty ends with self. I'm also questioning why you're stealing air that decent Americans could be breathing. You don't deserve the protection of our men and women in uniform. You need to run away from this war, this country. Leave the war to the people who have the will to see it through and the country to people who are willing to defend it.
Our country has two enemies:Those who want to destroy us from the outside and those who attempt it from within.
Semper Fi,
J. D. Pendry - Sergeant Major, USMC, Retired
For sure midas716
Long over due!!!!!!!!!!!!!
******************
"I think a peaceful march on Washington of about a 100+ million people or so would get the message acrross to them that we are tired of being ripped off so that Governments, State and Federal, can continue to "subsidize the greed" that has stolen and wasted our retirement incomes and the future of our children for generations to come.
"We the People of the United States of America in order to form a more perfect union."
Need take back what was once ours. It's obvious we no longer own nor control this country. Our forefathers must be rolling in their graves over what we have become."
Excellent post midas716
It is Power and Greed in our country. We need a march by the people on Washington to tell them who are in Office that they work for us the people. We need a real leader to emerge who can take us in a new direction! All IMO.
"IMO we in the US have just undergone the greatest theft of wealth from the middle class in our history. The Cuban people have been forced by their government to be the lambs slaughtered by the wolf. Whats our excuse?"
*************
I agree. The PPS may be dead. The company may be dead but as with any pink anything can happen. MT was a crook. That is a definate but you, like I, still converse with Pedro which gives me hope that he can ressurect PNMS.PK some day. Now is not that day and I too do not recommend anyone buying PNMS.PK until all issues have been resolved. IMO and many will call me a fool but I believe Pedro to be an honest man and also very politically connected. I believe he has many contacts that are friendly with the US and some not so friendly but it is my opinion that he is working to change the latter. We share a continent with the peoples north and south of our border and it is paramount that we start investing in our long neglected neighbors. The problem with that investment is we have been burned many times putting resources down south only to see those resources eaten up by corrupt regimes that gain power after we invest. Most of South and Latin America are just too unstable and that change needs to come from within themselves. That is what "Sense of Belonging" means. Some countries have no true identity and when people suffer from a lack of identity, mostly because they have been brutalized by their own crooked governments, they lack the necessary self determination to succeed.
If given the choice it is my opinion that the Cuban people would vote the Castro's out of power in a NY minute. Some strides have been made but it is still not the democracy that is needed to bring Cuba back to where it once stood. Cuba was a playground for vacationing poeples of all nations in a not so distant past. IMO Pedro is helping to position Panamersa as a player in all aspects once the embargo has been lifted. I at one time believed that Cuba should still be punished for what they allowed to happen but hat was about 45 years ago. The Cuban people have suffered enough for the decisions that were made by their government, which was well out of the peoples control.
One of our best friends and supporters did far worse to us than Cuba. They attacked and destroyed many lives on Dec. 7, 1941. In the end we reciprocated and destroyed 2 cities and hundreds of thousands, if not millions of peoples lives. We have forgiven, but not forgotten and they have forgiven but I'm sure not forgotten. We have long since gotten past that with japan and now it is time to forgive our neighbor and at one time good friend Cuba. If the Castro's will not hold free elections then it is up to the people to force those free elections.
Panamersa's destiny, we as shareholders, our destiny, lies south of the border and to a distant island 90 miles off the coast of Florida. IMO Pedro is working toward those goals and when the time comes Panamersa will have two feet in the door. We have no choice but to wait and see what happens but until then no nickels should be invested here.
Politcal change takes time. Lot's of time. The winds of change are blowing. Not just over there, not just here, but everywhere.
IMO we in the US have just undergone the greatest theft of wealth from the middle class in our history. The Cuban people have been forced by their government to be the lambs slaughtered by the wolf. Whats our excuse?
Post Unavailable
Additional Information
I am hoping James Emmett Finegan III
can help straighten out this mess.
Post Unavailable
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itlogic they all have issues IMO.
They all have issues, you just can't trust that the brokerages are doing something in your best interest.
Now, I hope MONA and Company do something in our best interest.
So far they have not!
**********************
I see that's alot of stuff against TDAmeritrade! I didn't look at all of them, but I didn't see anything relating to TDAmeritrade doing something wrong by only accepting call in orders to buy a stock.
I'm not trying to downplay anything, but, from what I saw, those were all mostly generic lawsuits. I would be willing to bet any broker, eTrade, Schwab, Scott Trade, etc. would have similar lawsuites on their hands. Maybe less than TDAmeritrade, but the same types.
TD AMERITRADE has its own issues itlogic.
They should be investigated as well IMO.
******************************
Here is an FYI from an email conversation with TDAmeritrade. I'm not sure about other brokers, but TDA has had a restriction to phone orders only to buy MONA. It has been restricted for long time now. Here is my question and the answer from TDA:
==============================================================
I'm not interested in buying this stock, but curious why there is an on-line buying restriction. The stock symbol is MONA. A long time ago I was able to buy it on-line. Some time back it became restricted and I got a message that I had to place a buy order over the phone with a broker and could not do it on-line. I believe it it still restricted to phone orders when buying. Why is that? Did something happen to it that raised a red flag for you guys?
==============================================================
I am glad to explain why you are unable trade some stocks on-line at this time. TD AMERITRADE obviously wishes to make as many stocks as possible for on-line trading. It is also prudent to restrict certain securities from on-line trading, including the one you have asked about. You are still able to trade it though a broker at the on-line commission rate since this is our decision. This action is not at the request of any government agency, industry regulator, or the stock issuing company.
In the ordinary course of the many systems and processes implemented to protect client assets, TD AMERITRADE regularly monitors trading patterns for possible questionable trading activity. It has been recognized by the financial industry that certain securities, particularly Pink Sheet or Bulletin Board stocks, are more vulnerable to manipulative trading activity. Historically, these stocks are typically traded when there is unauthorized access or activity within an account.
Instead of waiting for the legal process to identify a specific situation, TD AMERITRADE acts to permit trading but in a way that helps ensure you can do is safely. This is why you are asked to call and verify your identity and intent. It is part of the process to protect your assets, the integrity of the markets, all of our clients, and on-line trading in general.
TD AMERITRADE constantly monitors the stocks that are restricted from on-line trading and will remove securities from the list when appropriate. I hope this helps you understand why we ask you to call in this situation. Please contact a broker at 1-888-871-9007 for a trade at the on-line commission rate. Thank you for choosing TD AMERITRADE.
Mark Cowan
Apex Client Services, TD AMERITRADE
Division of TD AMERITRADE, Inc.
Volume 109,380
WOW!!!!!!!!!!!!!!!
kraken I am hoping for the best.
I think we all deserve something GOOD from this position as well as the others like GOILF. Been a long time!
*********************************
Probably some GLGT stock divy that will more than likely be restricted. Seeing that GLGT recently raised it's authorized 9 fold it will more than likely be diluted down to nothing by the time it becomes unrestricted and trade-able (if ever). So...to answer your question simply... probably nothing.
What will Mona Shareholders get out of this vending out of its ITI BioTech?
MonArc Corporation (MONA) Update on Corporate Actions (Filing)
Wednesday, May 13, 2009. MonArc Corporation www.monacorporation.com is a publicly traded
company listed on the Pink Sheets (MONA:PK), and is posting this information as a filing on pink
sheets to keep its shareholders advised of ongoing corporate developments.
The Company is in the process of closing the acquisition of a seed and farm input company. It has
been represented to the Issuer that the incoming management will commit to furnishing audited
financial statements to satisfy the criteria required in filing Form 15c2-11 and requisite Form 211
filings in conjunction with sponsoring market makers in order to allow the Company to move beyond
trading on an unsolicited basis only, and have market makers establish an active market for the stock.
The seed and farm input company currently has financial statements done under review and
engagement with revenues of about $1.5 million dollars and assets of about the same amount.
MONA management is advised that preparing an audit from the review and engagement level should
not be a complicated task. The Company intends to make further announcements in regards to this
acquisition shortly.
The acquisition of the farm products Company will ensure that MonArc continues to have
ongoing operations, subsequent to the previously announced vending out of its ITI BioTech
subsidiary; negotiations for which are moving forward timely with an interested also Pink Sheet
listed company.
The Peruvian gold mining company is also expected to be divested shortly, based on
disappointing results and ongoing issues with its management.
Importantly, as previously announced, the issuer continues working diligently to expedite the
dividend payouts that have previously been announced. The Issuer is optimistic that progress is
being made in overcoming the unforeseen regulatory complications that have held up these
dividends. The company deeply regrets any inconvenience this delay has caused.
Safe Harbor Statement
Information in this filing may contain statements about future expectations, plans, prospects or
performance of MonArc Corporation that constitute forward-looking statements for purposes of
the safe harbor Provision's under the Private Securities Litigation Reform Act of 1995. The
words or phrases "can be," "expects," "may affect," "believed," "estimate," "project," and similar
words and phrases are intended to identify such forward-looking statements. MonArc
Corporation cautions you that any forward-looking information provided by or on behalf of
MonArc Corporation is not a guarantee of future performance. None of the information in this
filing constitutes or is intended as an offer to sell securities or investment advice of any kind.
MonArc Corporation’s actual results may differ materially from those anticipated in such
forward-looking statements as a result of various important factors, some of which are beyond
MonArc Corporation 's control. In addition to those discussed in MonArc Corporation's press
releases, public filings, and statements by MonArc Corporation’s management, including, but
not limited to, MonArc Corporation's estimate of the sufficiency of its existing capital resources,
MonArc Corporation's ability to raise additional capital to fund future operations, MonArc
Corporation's ability to repay its existing indebtedness, the uncertainties involved in estimating
market opportunities and, in identifying contracts which match MonArc Corporation's capability
to be awarded contracts. All such forward-looking statements are current only as of the date on
which such statements were made. MonArc Corporation does not undertake any obligation to
publicly update any forward-looking statement to reflect events or circumstances after the date
on which any such statement is made or to reflect the occurrence of unanticipated events.
CONTACT: corporate@monacorporation.com
Post Unavailable
Additional Information
Hope so tallstahl
We deserve it!!!!!!!
****************
interesting unfolding of events occurring...
Post Unavailable
Additional Information
MonArc Corporation (MONA:PK) To Sell Its ITI Biotech Division
MONTREAL, March 19, 2009 /PRNewswire-FirstCall via COMTEX/ -- Mon Arc Corporation (www.monacorporation.com - MONA.PK) today after the market closed announced that it has reached an agreement with a Bio Tech fully reporting Pink Sheet company to acquire 100% of ITI. The transaction valued at 2.5 million dollars will be completed on a cash and stock basis.
The deal will see MONA realize approximately a 2 million dollar net gain.
The transaction is set to close within the next 30 to 45 days.
In other corporate updates, the management continues to work closely with the buyers of its previously announced asset sales and various transfer agents to sort out various cash and stock dividends which the company intends and expects to be in a position to distribute to its shareholders shortly.
Safe Harbour 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.
CONTACT: For corporate matters contact: corporate@monacorporation.com
SOURCE MonArc Corporation (MONA)
www.prnewswire.com
Copyright (C) 2009 PR Newswire. All rights reserved
-0-
KEYWORD: Quebec
INDUSTRY KEYWORD: OTC
SUBJECT CODE: TNM
What ever happen to this situation and
where do we stand right now????????????
***********************
McMULLEN ASSOCIATES, LLC
SECURITIES AND CORPORATE LAW
10701 McMULLEN CREEK PARKWAY, SUITE B
CHARLOTTE, NORTH CAROLINA 28226
DONALD M. BROWN, JR.* TELEPHONE
J. SCOTT HAMPTON (704) 541-2649
FACSIMILE
*ALSO ADMITTED IN (704) 541-4751
SOUTH CAROLINA
February 20, 2009
Monarc Corp.
ITI Bio-Tech
Corporate Office
1159 Autoroute
Laval, QC H7L 3W3
Canada
Gentlemen,
Our firm has been obtained to assist you in obtaining a solicited status 15c211 and also to
provide legal advice and assistance to you to ensure that all applicable regulatory and statutory
procedures are complied with as your company seeks to obtain a full solicitation status on a US
Exchange through filing a “Rule 211” Form with FINRA.
To accomplish this objective, of course, the procedure involves obtaining representation from a
registered “Market Maker” to become involved in the process which requires submitting
extensive information about your company with FINRA, which will then, after reviewing the
application, will grant full trading status for your company with an unlimited number of Market
Makers.
Unfortunately, several factors, including stiffer regulatory oversight from U.S. Governmental
and quasi-governmental agencies, has, especially since the first of this year, led to a shift in the
industry standard for Market Makers operating in the market today filing Forms 211.
Because of stiffer regulatory oversight, Market Makers have become increasingly concerned
about protecting themselves against potential legal liability for errors contained within Rule 211
Forms which they file with FINRA. Accordingly they are self-imposing higher standards from
companies seeking to obtain a ticker symbol or full trading status due to the difficulty in
verifying accuracy short of audited financials.
This in fact has constituted a growing shift in the industry standard for all 15c211 applicants,
whereby Market Makers are now requiring audited financials across the board, except, perhaps,
in rare instances on a case-by-case bases involving U.S. companies well-known to the Market
Maker with a solid and well-known business history. Cases of 211 applications proceeding
without audited financials, however, are increasingly becoming the rare exception to the new
rule, in which Market Makers are requiring audited financials.
2
So Gentlemen we recommend, not only for expediency in getting the 211 approved, but for the
company’s own protection as well, in our continued efforts to initiate or resume a full trading
status on the Pink Sheet or OTCBB Markets through filing a “Rule 211” with FINRA, that the
company complete and submit its audited financial information for the previous 2 year period of
operations. For non-US Companies, two years of audited (IFRS) (GAP) financials is highly
recommended or seek a current audited private company for merger.
Thank you for your consideration in this matter. Please do not hesitate to contact me should you
have any questions.
This opinion is solely for the use of the Company and its Board of Directors, and may not be
published or provided to any other person or entity without written permission from the
undersigned.
Very truly yours,
Donald M. Brown, Jr
http://www.pinksheets.com/otciq/ajax/showFinancialReportById.pdf?id=19606
"an apology" What, are you!!!!!!!!!!
We want the promises to us shareholders fulfilled by Mr Winters and Company, It is May 2009, they can stick the apology!
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"This company MONA owes its sharholders an apology for liying and cheating them out of their money
If the SEC would do thier job this scam would be shut down
The only employees are paid manipulators and management sits there behind their computers pretending to be somebody who they are not. all in the name of dilution"