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Thanks, and another green day is great.
I’m still watching for now with my small amount of shares. I would like to see if they follow through with the PR and work from there.
Thanks, Great find.
got em'
I was reading it. I saw a lot of money wasted. I hope they get their sh** together. You could be right.
I just found out that the shareholders before Oct. of 2009 got screwed. The company never gave them their shares, so now they are trying the same stunt for Oct. 2010 shareholders. They said it is the same deal, but couldn't complete it last time. My main question was could the shareholders get screwed again and his reply is maybe. WTF?
Press Release Source: Alternative Fuels Americas On Wednesday September 22, 2010, 9:00 am EDT
NORTH MIAMI BEACH, FL--(Marketwire - 09/22/10) - Netspace International Holdings, Inc. (Pinksheets:NSIH - News) announced today that it has changed its name to Alternative Fuels Americas, Inc. ("AFA") to better reflect the Company's new business focus of establishing a sustainable biodiesel enterprise in select Latin American countries. The Company has also applied (but has not yet received approval) to change its stock symbol to "AFAI."
In addition, the Company also announced, that pursuant to a decision made by the Board of Directors and approved by a majority of shareholders, it has implemented a 200 for one reverse stock split effective at the close of business on September 16, 2010. Pursuant to the reverse stock split, each 200 shares of common stock will be converted into one share of common stock. No fractional shares will be issued; rather fractional shares will be rounded up to the nearest whole share.
AFA is currently rolling out a development plan designed to plant more than 100,000 hectares across up to 14 Latin American countries with Jatropha, a plant particularly suited for the production of biodiesel fuel. The Company has engaged in successful agricultural trials and has begun the process of initiating commercial plantings. AFA intends to be a "seed to pump" company and plans to engage in all phases of the biodiesel process -- planting, growing, and harvesting Jatropha, crushing and refining Jatropha seeds into biodiesel, and selling the biodiesel or green fuel into the local markets.
"This name change and reverse stock split are necessary steps in our efforts to establish a strong structural foundation for our company," commented AFA CEO Craig Frank. "The name Alternative Fuels Americas clearly emphasizes our business and the reverse stock split significantly simplifies our capital structure, enabling easier trading of our common stock as well as improving our ability to raise additional capital. Moreover, we believe that this will assist us as we continue our efforts to establish a meaningful presence in the Latin American market for biodiesel fuel and grow shareholder value."
About Alternative Fuels Americas
Alternative Fuels Americas (AFA) intends to be a "seed to pump" company and plans to engage in all phases of the biodiesel process -- planting, growing, and harvesting Jatropha, crushing and refining Jatropha seeds into biodiesel, and selling the biodiesel or green fuel oil into the local markets. For more information, visit http://www.alternativefuelsamericas.com
This press release includes statements that may constitute "forward-looking" statements, usually containing the words "believe," "estimate," "project," "expect" or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, acceptance of the Company's current and future products and services in the marketplace, the ability of the Company to develop effective new products and receive regulatory approvals of such products, competitive factors, dependence upon third-party vendors, and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.
I never received a response from the company by the way. Also, noticed a lot of wasted money to management positions. They don't deserve these outrages salaries. Maybe if the company was making more money.
I never received a response from the company
Management services
The Company has employment agreements with its CEO, CFO, and consulting agreements with former Company officers.
The Company entered into a five year employment agreement with Brad Holt as CEO. The terms of the contract included an initial salary of $120,000 until specific performance measures were met, at which time the salary is to be increased to $220,000. On March 1, 2008 the salary was increased to the $220,000. In December, 2008 Brad Holt resigned as CEO. The Company entered into a consulting agreement with Mr. Holt for a period of four years. As terms of the settlement, Holt received $20,000 in back compensation, and all his current shares are unrestricted, held in attorney escrow, and subject to a 50,000 share per month “leak out” provision.
The Company entered into a five year employment agreement with David Surette as President, and CFO. The terms of the contract included an initial salary of $160,000 effective January 15, 2008 until April 15, 2008, at which time the salary is to be increased to $220,000. Other performance bonuses were available at the discretion of the board of directors. There was an 18 month severance if terminated early. On September 3, 2008, the Company entered into a severance agreement with Mr. Surette. Mr. Surette received $36,000 in cash; $18,000 on September 20, 2008 and $3,000 per month, for six (6) months, beginning October 1, 2008. In addition, Mr. Surette returned 25,000 shares of common stock he was issued in the form of consideration during his tenure as Chief Financial Officer.
The Company entered into a five year employment agreement with Michael Dodak as VP of Corporate Development. The terms of the contract include an initial salary of $120,000 until specific performance measures are met, at which time the salary is to be increased to $150,000. Per the agreement, Mr. Dodak elected to convert his contract to a consulting agreement whereby he was paid $10,000, monthly. The consulting agreement runs thru December, 2012. There is an 18 month severance if terminated early. In August 2009, Mr. Dodak and the Company amended the agreement whereby Mr. Dodak become the “Director of Solar Park Development” and COO of the Company. His compensation increased to $15,416.66 per month. Upon stepping down as COO of the Company, his compensation will revert to the $10,000 per month. Mr. Dodak will receive bonuses for achieving certain milestones in developing Solar Parks and new options in line with the other Company management. On February 1, 2010, Mr. Dodak was appointed President of the company with a salary of $200,000 per year
The Company entered into a four year employment agreement with David W. Fann as CEO. The terms of the contract include an initial salary of $150,000. The base salary will increase to $220,000 when the company receives a minimum of $1,000,000. This increase took place in July 2009. There is an 18 month severance if terminated early.
The Company entered into a four year employment agreement with Gregory N. Bakeman as President and CFO. The terms of the contract include an initial salary $160,000. The base salary will increase to $220,000 when the company receives a minimum of $1,000,000. This increase took place in July 2009. There is an 18 month severance if terminated early. In January, 2010, Mr. Bakeman’s salary was reduced to $180,000 per year. On March 25, 2010, Gregory Bakeman resigned as the Chief Financial Officer of Solar Energy Initiatives, Inc. (the “Company”) to pursue other business interests and terminating his agreement. Mr. Bakeman will continue to serve the Company as a consultant on an as needed basis. Michael Dodak, the President of the Company, will serve as the Interim Chief Financial Officer.
In April 2009 the Company hired Dean Leischow as Executive Vice President of Sales and Marketing. Mr. Leischow will be paid a salary of $120,000 per year, and received 100,000 shares of S-8 stock in lieu of cash for the first 90 days. The stock was issued in July 2009 with a value of $120,000. The entire amount was expensed as salaries for the year ending July 31, 2009. On December 1, Mr. Leischow resigned and will provide consulting services going forward. In February, 2010 the CEO, President, CFO and COO were reduced to half pay for an undetermined period of time. Beginning October 1, 2009, SPI entered into an employment agreement with its Chief Executive Officer (“CEO”), with a base salary of $220,000 annually. For the first 90 days of employment or until the Company completes its spin off, the CEO will accrue monthly payroll. Payment for all accrued amounts shall be made upon completion of spin-off in either company stock or cash at the option of the CEO. Additionally, the CEO will receive options to purchase 200,000 shares of Solar Energy at an exercise price of $0.34 per share. The options will vest according to performance metrics which are yet to be determined. Additionally, the CEO will have the option to roll the Solar Energy options into a pro-rata share of SPI’s stock options immediately after
Thanks I missed that, I was reading the 50 page 10-Q, but will save that for another day. That post was summed up what I was looking for.
I'll check it. Are you talking about this post?
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=55453893
I saw that post, but I want to know about last years PR for shareholders holding from Oct. 2009
I'll be watching for now. I would like a response from the company first, about the situation last year and now the PR today. GLTA
Check out the website
http://www.naturallyiowa.com/
It is Totally Green now!
So, what makes you think that they will deliver on the old PR and this new PR? I was thinking about selling mine as a tax write off a few weeks ago, but looks like the stock is back to life with lots of volume. I don't want to add because they never delivered in the first place. Any thoughts?
Thanks, I wrote them as well.
I never received a response from them. Not sure what is going on with the company.
NVD. filled
I been on the bid all day and no fill. The ask worked fine.
What are you thoughts on this PR and the one in 2009? I know other people didn't get shares from 2009 holders and now this PR?
http://ih.advfn.com/p.php?pid=nmona&article=39713512&symbol=OTCBB%3ASNRY
Thanks Manti. Jeff is here to help us, but some people don't want to see it that way.
Thanks. I'll have to email the company to find out what is going on. Nice board you have there, by the way.
What do you mean?
I know Naturally Iowa Acquires Totally Green, LLC in August, 2010. Are you saying LLC is now INC. or Naturally Iowa has a name change?
To a certain extent. Jeff should update shareholders because we have been in the dark for a long time. An update on the website instead of a PR for long term investors. A PR for major news as in MS closing or funding.
Fink I agree, but Jeff is just starting. I think I will have to pay a little visit this week and next and try to meet him.
The volume is really low as well. Not sure if this is the lowest volume day so far.
Thanks for checking.
Well, I guess I didn't put much in to this stock to begin with, but the news blows.
Aviation background does matter. Too many business people with no aviation background running aviation companies to the ground. It is a totally different ball park. I have plenty of facts to back that up. BUT that is why Jeff from APEX is there. The "team" has plenty of aviation background personnel.
Thanks, I'm glad somebody was looking out for that. Great news.
I had no luck selling at .0002 throughout this month. I was up 100%, but it didn't mean I could sell there. I hope to see some sort of movement soon.
I wasn't sure. Just speculation by some, so I called to check up on it.
No change in the O/S today. 1,499,786,263
That Dean is in fact gone and Jeff is in. Filed today.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=54959954
Great find and thanks! Let jeff go to work. No need for any fluff PR's.
An update would be great if Jeff is reading this. CO (for BOD) needs to be updated as well.
I agree, I do find comfort that Jeff is in charge and for the shareholders.
That depends if Dean's money was dirty. I wonder if he claimed our money being his. Everything Dean said was based on getting funding and when he didn’t get it he lied some more IMO.
I don't blame you for being skeptical after a year of this with Dean. Everybody should be to some degree. I still hold all my shares as an investment and for the same business plan. Jeff has some work to do and I feel a lot better he can make progress then old liar Dean.
Still a Long in this and already posted my holdings.
One thing I would like to assure our shareholders of is that, at this time, there will be no changes in our authorized share structure, nor will there be a reverse split. Any need to raise funds presently to get us to the finish line must be done privately; it is evident that our shareholders have been tapped hard enough."
More like cleared to taxi. Jeff has some work to do IMO.