researching
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The totals are correct. Excel says so.
Serf, check out the dates of the reports.
Yes, the pay date is today, ex tomorrow. The shares and pps will be adjusted for tomorrow's open.
2. Definition of Asset-Backed Security
Currently, the term “asset-backed security” is defined only for purposes of Form S-3. As many of our proposals relate to the treatment of asset-backed securities regardless of the form on which their offering is initially registered....
http://www.sec.gov/rules/proposed/33-8419.htm
This stuff is almost 3 years old now....
At least Rufus changed "we" and "our" to "SEC".
Do these guys do anything but copy others?
"As the Commission stated in the 1992 Release, the definition does not distinguish between pass-through..."
http://www.sec.gov/rules/final/33-8518.htm
As the Commission stated in the 1992 Release, the definition does not distinguish between pass-through and pay-through asset-backed securities nor does it limit application to a list of “eligible” assets that can be securitized, so long as such assets meet the general...
I know. You see, things would be different if, for example:
-A trip by a shareholder to the office turned out to be a real office with real employees and a casual meeting with management
-Dr Mensah emailed shareholders and said "things are going well"
-Harris had a real track record of success
-The shell wasn't closely tied to BBAN and the "bad guys"
-Georgia Aerospace had actually bought the manufacturing facility and hired 200 - 1,000 workers for federal contracts
-Canady had emailed or pr'd the great opportunity for their funds.
-Georgia Aerospace had a working website, email and phones that shareholders could use to verify.
-CSHD had information on each subsitiary, joint-venture that would've been substantiated.
-8K's with audited financial statement had been filed with the SeC
-Management hadn't posted on message boards, held paltalk interview or paid stock promoters
...much more...
What I keep thinking about is why has nothing been positive or confirmed? So far, everything is excuse after excuse. AISS was supposed to be the reason that funding would bring this company forward. Now, people are saying we have the bonds and that's all we need. Well the bonds have no real value to the company other than being an opportunity. The way I see it, you're talking months if not years before anything realizes.
Exactly! He has nothing also. If he had real government contracts, he wouldn't need to rely on CSHD.
That's what I'm getting at. Share price may be up, but value is down.
Check the 8-K merger and you'll see that they're being treated as a variable interest entity and will consolidate the financials for the 10-K. Search on "variable interest" and I think you'll find it.
So essentially CSHD is worth less than FHAL. More shares, more debt, no value added. The subs and jv's are non-existent or non-revenue producing "hopeful" future ventures. The bonds aren't owned, just accounting entries with no real value to the company and shareholders.
So other than a mundane reverse merger, what's been accomplished in the last 2 months?
You don't get an "E" for 8-K's.
It could've been a CC: reply. I would assume that the original emails were sent by dak77, since it's addressed to David and DAK77 sounds to me like initials and date of birth. The other poster (can't remember the id) may have been CC'd. Just a guess.
ECFL on the daily list:
ECFL - Ecarfly Inc Common Stock
Declaration Date:
Ex Date: 09/22/2006
Record Date: 09/18/2006
Payment Date: 09/21/2006
Dividend Type: Stock Dividend or Split
Dividend Amount: 10-1 stk
Notes:
Due Bill Redeemable Date: 09/26/2006
I did the same thing. It was basically empty when I checked it the first time. Then after I read another post about it later, I checked it again and it was updated.
Cut the crap.
An admin confirmed it.
Well said. I just wish I was here earlier to see what went down...
Thanks Kapone. That's what I figured.
That was really funny! Thanks for the laugh.
Are you thinking of a dividend instead?
You'll still get the split shares even if you buy on Wednesday. The adjustment on the price will be effective Thursday at the open.
The answer lies in the accounting for what the company is doing. These are "off balance sheet transactions". Basically, the bond holder transfers the assets to a Special Purpose Entity (trust). The trust then securizes the bond, using the asset to issue Asset Backed Securities. By removing the asset from their balance sheet and assigning it, the bond is protected in case of bankruptcy (SPE's are what Enron was hiding behind, btw). But in the end, the asset doesn't really belong to the assignee.
"mostly", because the codes for the SEC halt do apply. The others don't. Halt for news and such pertain to nasdaq derivatives and foreign issues. Stock like this one, can't be halted by the company or nasdaq for news or any other reason.
That's mostly incorrect. Here's the OTCBB rule, 6545:
Read OTCBB Rule 6545:
6545. Trading and Quotation Halt in OTCBB-Eligible Securities
1. Authority for Initiating a Trading and Quotation Halt
In circumstances in which it is necessary to protect investors and the public interest, NASDAQ may direct members, pursuant to the procedures set forth in paragraph (b), to halt trading and quotations in the over-the-counter ("OTC") market of a security or an American Depository Receipt ("ADR") that is included in the OTC Bulletin Board ("OTCBB") if:
1. the OTCBB security or the security underlying the OTCBB ADR is listed on or registered with a foreign securities exchange or market, and the foreign securities exchange, market, or regulatory authority overseeing such issuer, exchange, or market, halts trading in such security for regulatory reasons because of public interest concerns ("Foreign Regulatory Halt"); provided, however, that NASDAQ will not impose a trading and quotation halt if the Foreign Regulatory Halt was imposed solely for material news, a regulatory filing deficiency, or operational reasons; or
2. the OTCBB security or the security underlying the OTCBB ADR is a derivative or component of a security listed on a national securities exchange or The NASDAQ Stock Market ("listed security") and the national securities exchange or The NASDAQ Stock Market imposes a trading halt in the listed security; or
3. the issuer of the OTCBB security or the security underlying the OTCBB ADR fails to comply with the requirements of SEC Rule 10b-17 regarding Untimely Announcements of Record Dates.
2. Procedure for Initiating a Trading and Quotation Halt
1. When a halt is initiated under subparagraph (a)(1) of this rule, upon receipt of information from a foreign securities exchange or market on which the OTCBB security or the security underlying the OTCBB ADR is listed or registered, or from a regulatory authority overseeing such issuer, exchange, or market, NASDAQ will promptly evaluate the information and determine whether a trading and quotation halt in the OTCBB security is appropriate.
2. Should NASDAQ determine that a basis exists under this rule for initiating a trading and quotation halt, the commencement of the trading and quotation halt will be effective simultaneous with the issuance of appropriate public notice.
3. Trading and quotations in the OTC market may resume when NASDAQ determines that the basis for the halt no longer exists, or when five business days have elapsed from the date NASDAQ initiated the trading and quotation halt in the security, whichever occurs first. NASDAQ shall disseminate appropriate public notice that the trading and quotation halt is no longer in effect.
3. Violation of OTCBB Trading and Quotation Halt Rule
If a security is subject to a trading and quotation halt initiated pursuant to this rule, it shall be deemed conduct inconsistent with just and equitable principles of trade and a violation of Rule 2110 for a member:
1. to effect, directly or indirectly, a trade in such security; or
2. to publish a quotation, a priced bid and/or offer, an unpriced indication of interest (including "bid wanted" and "offer wanted" indications), or a bid or offer accompanied by a modifier to reflect unsolicited customer interest, in any quotation medium. For purposes of this Rule, "quotation medium" shall mean any quotation system, publication, electronic communication network, or any other device, including any issuer or inter-dealer quotation system, that is used to regularly disseminate quotations or indications of interest in transactions in equity securities.
Jeff Foxworthy and/or Larry the cable guy. eom
What's funnier is when he filed the 15c-211 for Conversion and included the HQ.com daily rental and the stables. That was very funny.
That's their main headquarters, though. We all know that they just rent the space so they have a business address and services.
He must think virtual, as in fake. lol
I doubt it since it is a virual office (aka, pay by the hour for phone forwarding, mail drop and conference room space). This was concluded almost 2 months ago.
Sell. eom
He does. He just has to get there 30mins before and make it look like it's his. lol. The real truth is that they forward calls to his cell phone at home most likely.
At least it's a step up from all those addresses at Mailboxes ETC that companies use to use before. Not by much, though.
It's just a monthly rental space. HQ does a nice job with their spaces. Thanks, though.
It may mean that they'll run this up after the reset. If it were at HOD right now, I'd think the opposite.
I'm in. Bought the dip. What the heck. lol
What the heck just happened, $.74?
I was responding to the "price reset" in your post. They way you posted it now, I would agree with you.
Most stocks are reverse mergers, btw. They happen daily. From what I remember, none of those other examples were resets.
I'm new to this board and just starting some DD on the stock. Does anyone have the current OS and AS handy?
Also, what's the feeling on the forward split? Will the lower share price after the split bring in some new buyers? I'm used to forward splits on the big board and they usual attract buying since it makes the stock more tradeable. At $.80, that's not much of a problem but I wonder if there'll be more interest from the folks that usually play pennies. Tia
I wouldn't say it quite like that. They can't sell their restricted shares. But there are a lot of loop-holes that companies use for shares using offshore resources.