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Did you read the 8-K? Guess not. Because it's funny how Scenic Marketing Group all of a sudden held $200,000 of WTCT's debt. We'll wipe that out and give you 400,000 preferred shares. Let's see, who owns Scenic Marketing Group? Anyone, anyone. Oh, yes, FM and gang. Looks to me like another bogus invoice for billings to the company he is CEO of and going to pay his actual company off with shares. Sounds faintly familiar to me. Also, that makes me pretty suspicious of the other two companies that are now subsidiaries of WTCT. Where they also companies of Scenic Marketing Group or Bad Apple? Who's to say. Here is the PR.
Form 8-K for WATCHIT TECHNOLOGIES INC.
--------------------------------------------------------------------------------
28-Sep-2007
Completion of Acquisition or Disposition of Assets
ITEM 2.01 COMPLETION OF ACQUISITION OR DISPOSITION OF ASSETS.
Effective August 22, 2007, the registrant entered into an agreement to acquire all of the Membership Interest owned by the members, licensing rights, intellectual properties, and software assets of Digital Fusion Television, LLC., making Digital Fusion Television, LLC, a wholly owned subsidiary of WatchIt Technologies, Inc., in exchange for Eight Hundred Thousand (800,000) shares of Series A Preferred stock in WatchIt Technologies, Inc. These Series A Preferred shares shall be subject to restrictions under the Securities Act of 1933. The registrant's Board of Directors approved this acquisition on September 28, 2007. This agreement shall close no later than September 30, 2007, and is attached as an Exhibit.
Effective August 22, 2007, the registrant entered into an agreement to acquire all of the Common Stock owned by the Shareholders of BMA Partners, LLC, making BMA Partners, LLC, a wholly owned subsidiary of WatchIt Technologies, Inc., in exchange for Eight Hundred Thousand (800,000) shares of Series A Preferred stock in WatchIt Technologies, Inc. These Series A Preferred shares shall be subject to restrictions under the Securities Act of 1933. The registrant's Board of Directors approved this acquisition on September 28, 2007. This agreement shall close no later than September 30, 2007, and is attached as an Exhibit.
Effective September 28, 2007, the registrant entered into an agreement whereby Scenic Marketing Group, LLC. will retire $200,000. in debt in exchange for Four Hundred Thousand (400,000) shares of Series A Preferred stock in WatchIt Technologies, Inc. These Series A Preferred shares shall be subject to restrictions under the Securities Act of 1933. The registrant's Board of Directors approved this action on September 28, 2007.
ITEM 9.01 EXHIBITS
Exhibit No. Description
----------- -----------
9.1 Acquisition Agreement between Digital Fusion Television, LLC
and WatchIt Technologies, Inc.
9.2 Acquisition Agreement between BMA Partners, LLC and WatchIt
Technologies, Inc.
Email response. I left some of the response out, because I don't think it is my place to share it.
Dear James:
I am now in India trying to close several major deals. I have already closed one in Malaysia worth $1m. Things are working out great and so holding the meeting is not my top priority but making revenue is. ..... share all the money we make with stockholders.
Regards
Edward Tan
-----Original Message-----
From: James
Sent: Mon 9/24/2007 10:28 AM
To: Edward Tan
Subject: Shareholder Meeting
Hello Edward,
I hope all is well with you and your family.
Also, I hope the meeting with China and India went well. I know a lot was riding on their approval of our product, so that we could land a large deal with both of them.
I was hoping maybe you could give me or everyone (by way of another email) an idea of how things are going these days, haven't heard much since late August, and you pretty much got everyone anxious to see how those two meetings turned out as well as the meeting to give a proposal for buyout of the company.
Another burning question, would have to be, where are we on listing the stock? September 30th was the initial date we were shooting for. It would be a nice for the shareholders to be able to see some follow through on some of the projections that have been made.
Thanks again for your openness and honesty,
Loyal Shareholder
James
Just some facts for you.
http://findarticles.com/p/articles/mi_m0EIN/is_2004_April_5/ai_114933466
American Multiplexer Corp. Announces Stock Dividend
Business Wire, April 5, 2004
Business Editors
SUNNYVALE, Calif.--(BUSINESS WIRE)--April 5, 2004
American Multiplexer Corp. (OTC:AMUT) announced today that it would pay a common stock dividend to all stock holders of records as of April 23, 2004. The company will distribute one share of common stock for every two shares of common stock that are owned as of the record date of April 23, 2004. The stock dividend will be paid on May 7th, 2004.
Edward Tan, CEO of AMC said: "The company has been making great strides in executing on the key objectives in its strategic business plan. In the First Quarter, the company recently achieved its first revenue of $154,000 from the sales of its eFotoXpress software product. Furthermore the company has developed critical sales and distribution alliances while also achieving a significant reduction in monthly expenses. These combined factors will result in significant continued growth in revenue and profitability. The response from the market place for eFotoXpress has been extremely positive and we are experiencing strong demand for the product. We believe at this junction it is important to increase and diversify stockholder's participation in the Company's stock. Declaring this additional stock dividend will increase our liquidity and accordingly increase stockholder's participation."
That was me and him arguing back and forth. Used up all my posts last night.
Hey can you provide the PR for the bravo deal with the taxi company.
Nice piece of info Zizo. I think you are within reason with that assumption.
Didn't realize this stock was ever talked about on Raging Bull. But, yes there always has to be one guy that doesn't post within reason.
I think Edward has explained that in his letters.
And how do you know that USA sells haven't been very good, because Edward was honest and told us just that. Fact is, I am thankful that he is even communicating to us, because for an unlisted company, he probably wouldn't have to, but he does. In fact more often than many listed companies I also have a stake in.
Also, what reason is there for Edward to throw fluff in our face, if we can't buy or sell the stock on the market. I had actually wrote this stock off for dead a long time ago, so anything I obtain will be great, but I think we have the potential to achieve more and so does Edward.
The reason that he hasn't returned, is because he feels that generating more revenue is more important than a shareholders meeting at this time. Makes sense to me, and probably to several others.
It was PR'd as a 2 for 1 stock dividend. Maybe you need to tap into your history of this company. I don't believe it was ever PR'd as a "Bonus".
All, I can say is you don't know anymore than we do, and we are all pretty happy with what is going on here right now. Difference of opinion is all.
Just got an email from him today, he is still overseas working on deals.
Ok, so they should just stop selling shares and shut the doors, that makes much better sense for you and me. Think about it. If there selling to keep things going until something hits, whocares. Better than them closing doors and taking away our glimmer of a chance to make some money back on this investment. Keep posting about selling shares, but the alternative is much worse until they start selling a shit load of CTs. It's not that difficult to understand.
I am starting to think that some of you are just hypocrites. HISC didn't have to create a blog, they don't even have to release a PR. They could just close doors and forget about the whole thing. Point is they haven't and they introduced the blog for the shareholders, yes for the shareholders, because we asked for it. Now shut your mouths for a bit and let them use it how it was intended to be used.
Maybe they don't post, because they are choosing not to be repetitive of their statements, unlike you.
Didn't see this post previously, but I agree totally.
Maybe that just means that they have so much going on they don't have time to spell check. See it as basically an email to us. Don't treat it as a PR guys, it isn't, that's the point.
Great, there goes the BLOG. We gripe about the only response we have gotten, because it wasn't all suger coated. Truth is we knew something was wrong because the product wasn't on the site. They answered the question. Let's leave it at that and let them be for a bit with this blog and see what happens.
I think he is just saying that Edward hasn't published an offer yet, and he feels that he should have already.
Still here, but not posting much, just reading and waiting.
To answer your question. Part of the point here is.... The shareholders asked for a spot on the site that they could stay more informed about what is going on. Hence they provided the spot on the site, and intend to use it to do just that. All I can find to say about the matter is "Thanks Fred and others involved at HISC for listening".
Very true kid, good post.
Oh, so it would have been better if the company would have just went heels up and us not get anything out of it. If you have to sell shares to raise capital to keep the company afloat while you are designing your new products, that sounds like a good decision by the CEO not a bad one for the shareholders. Think about what you just posted again, and maybe you will see it differently.
What's interesting is that I don't see where Edward Tan ever said that he wasn't selling any more shares. What I do know is that his letter to me explained that he was closing the books to selling of any shares as of April 30.
This is an excerpt from the Subscription Agreement Letter
Subscription Agreement
The undersigned (the “Subscriber” or the “undersigned”) hereby subscribes to and offers to purchase shares
of the Common Stock, $0.01 par value per share (the “stock”) of eFotoXpress Inc.,a North Carolina Corporation (the “Corporation”) for cash price of $xx.xx per share for a total purchase price of $ 000.00.
This offer to subscribe will expire on April 30,2007
From what I know, I believe April 30 or so was the last day they offered the stock until listing, if and when it lists.
I am just saying that we won't see him selling the company for $.50/share. Also, if the current offer wasn't over $1.00, he wouldn't have even mentioned it or even had to meet with them again to go over it.
My best wishes for your heathly recovery go out to you. You are missed around here.
With prayers wishing you a speedy recovery.
JIMMY
I can tell you that Edward would not even entertain anything less than $1/share. Like I said earlier, his thought was $5/share.
It sounded like it would be in the shareholder meeting.
No specific dates known here just yet. As you can see from the last email though, Sept 15th appears to be the last known meeting to date in India, so I would say early October for a shareholders meeting, but just guessing. My hope is maybe we will be able to listen by phone.
thanks skier, didn't know T-mobile was that prominent of a carrier.
that isn't the entire link. I am guessing it got cutoff when you posted it.
I agree, I think we have a 2400-3000 unit range/quarter that would get us to that breakeven point.
You are about at my same break-even level. I would think we could get $2/share. But Edward once told me about 8 months ago that he wouldn't take anything less than $5. We shall see.
I would fork over $500.
If thats truly the case, then why would Wicks be asking Moody to provide proof of all of the documents that Frank M manipulated or phony documents in which he authorized payments. Sounds like separation to me, all on the part of Frank Moody. So try again, or better yet, don't. Frank or Big Apple punk, your days are done.
I take your last 2 or 3 posts as you being the one protesting too loudly. Sounds like an admission of guilt.
Not only that, but that statement was then in every PR for a period of about 6 months.
You act like stockperformer was around here when this stock was $.02. Stock didn't show up until this thing was well under .001. So I guess I don't get your point. Listening to him wouldn't have made any difference and it still wouldn't have. Besides, if you listened to him to make investment decisions, you might as well throw your money in the garbage.
So who all here are current shareholders? Looks like we may get a vote. What type of buyout price would you be looking for?