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We did this same thing before the last run-up and we know more now then we did back then. So I am guessing we will see resistence at $0.15 and then at $0.12 and then heavy at $0.10. So I am buying anything in that range. Good news will take us back to $0.25 and then on to $0.50 if the divy even comes through in part or the spinoff talks begin.
Outstanding buying opportunity today. I am still accumulating below $0.18. Should be good for at least a double.
Bashing in general is just a joke for me. Refuting pump comments is one thing but trying to pick apart a startup company by comparing them to a company that has been around for a decade is just a joke. If I am a startup company and my neighbor who is known by everyone in the community as a good guy wants to give me an award I take it and I promote the stock and its management by making it public. I could care less if this award came from a group of high schoolers that want to be in the IEEE. From the quality of the award one can tell it is from a small organization. There was a picture on the website of the awardees which totaled about ten so NO this was not a worldwide IEEE award ceremnoy.
Alas, we can't forget that the CEO is on probation for a crime committed over a decade ago, from which he only received a probation sentence.
If you can get over the constant reiteration of the same bashing comments each day you will see that the upside potential far outweighs the downside. The simple chance of even a partial cash dividend is enough for me. No one in their right mind would short this stock at these levels and no one would back that kind of play. This stock could be considered fairly valued if the divy was the only thing out there. The potential spinoff of www.995ad.com and the call/data center business is enoough to value this stock at twice its current trading levels. And of course there are a couple smaller segments of the business that no one accounts for (fishing tackle, CD maker, and ringtones).
I'm happy with my investment and confident in a reversal here.
Is anyone else having trouble accessing the company website? I have tried typing it in by hand, hitting links to it, even the links from the web addresses in the header. Could just be site renovation, but I'm a little annoyed. TIA.
Thanks AAA, just wanted to check. EOM.
OT: AAA, you are a pretty knowledgable chart guy, would you take a look at the 6 month WITM chart and let me know if that is what you would call a cup with handle? Anyone else smart on the subject is welcome to take a look. I appreciate your time. Thanks.
Good play this level for a decent one or two bagger, maybe three bagger if past stuff follows through. On the horizon we have the 995.com spin off and the addition of hotels to the site. As the number of car ads on the site increased so did the share price. The divy for the HLS segment should still go through, worthless or not it will cause some excitement. You could wait to see if this one goes back to the $0.10 to $0.15 level before taking off again or you can get it now at $0.18, either way the potential is there for another run to over $0.50. Sure, there will be bag holders again if it goes that far, but to each his own. Greed tends to keep people in too long and they have no one to blame but themselves. If people were more greedy last time we would have seen $1. The intrinsic value here, compared to other stinky pinkies, is above the current pps so we are all buying at a discount.
It's just funny that the CEO is a Felon and this company is a SCAM posts have died off since we are back under $0.20. Just wait till it makes its next run and you will see that every three or four posts. Either way this is a good flip play into the new year. GLTA.
IMO the selling has subsided now. The past two days have shown periods of accumulation where the MM needed to walk up the price in order to entice some sellers. I think the reason the spread is so wide is that there just aren't enough people that know about this stock yet. Without interest there is no trading activity and I sit here with my buy order at $0.002 and others sit on the other side with their ask order at $0.005. One of us has to move to create volume but lately none of us are budging. So here we are with a spread at 100%.
OT: Can I get a favor from a couple of you guys?
I started a board for Wits Basin (WITM) which is a mining exploration company here in Colorado. I've put most of the details on the board, but no one seems to be interested in joining my conversaiton with myself. If any of you can spare the time I would like a few other opinions on the company and the stock. I respect many of you and have been following your posts on other boards. TIA.
Boston Financial Partners sold a totla of 323,500 shares from 11/17/05 to 11/29/05 at prices ranging from $0.21 to $0.24.
In late October several of the directors in the company received stock options ranging from $0.23 to over $2 per share.
Correction, of the 250,000 shares of MacDonald Mines, Wits only received 175,000 of those shares since its interest in the McFaulds Lake Project is 70%. Hawk Percious Minerals owns the other 30% (75,000 shares) of MacDonald Mines.
Drilling was planned for the Summer of 2005, but the company has not updated this portion of their website since then.
Here are some points that I found in the last 10Q.
The deadline of 30 November 2005 is no longer. Wits received an extension, probably due to the extensive dewatering project required to make a sound decision. They now have until Dec 31, 2005 to complete Phase 1 of their DD. This phase includes bringing the pump house online (completed), dewatering to a predetermined level (nearly complete), metallurgical tests (in-progress), and mapping of the mine shaft (nearly complete). So it appears that this phase is progressing smoothly. The total expense for this phase is $500,000, which from what I can tell the company has secured.
Phase 2 will need to be completed NLT April 30, 2006. This will involve a diamond drill station that will commense drilling around the 745 foot level. This phase will identify the vein system and will verify the economical value of the property. This shoul dbe when we get the biggest pop in share price. This phase requires $650,000 which from what I can tell the company has access to funding from Pacific Dawn Captial to complete this phase.
Finally the acquisition decision must be made on or before May 31, 2006. I have a feeling that we will know farther ahead of time if this purchase will occur. I would hope that the decision can be made before expending the entire $1.15 million for phases 1 and 2. Phase 3 follow the acquisition which will include 100 tons per day of extraction.
Something that I found very interesting is that Wits states that they believe the Bates-Hunter Mine will be the first revenue producing property for Wits. I guess the Canadian and African mines were about as successful as the South American mines.
In June 2005 Wits sold its interest in the Brazmin Porject (South America) back to the original owner for $75,000 and realized a loss of $466,578. This could be reason for the share price drop.
Wits owns or at one time owned 250,000 shares of MacDonald Mines Exploration which trades on the Canadian exchange. They planned to sell all of these shares by the end of 2005. Unfortunately the share price has been dropping but recently it had a nice spike so perhaps they will raise more funds then expected.
Lastly according to the 10Q approximately 50% of the outstanding shares are held by 2 directors, Hawk Associates (partner) and 4 other investors. So that puts the float down to around 30-35 million.
Alas, some of us are merely small fish in the big sea. EOM.
200K here and holding strong. EOM.
Spider Resources is another Canadian exploration company that owns property just off to the SE of the Wits Basin property. Spider acutally borders to the SE while the Noront property is substantially farther to the SE. Sorry for the confusion.
Something important to note that I found during DD is that Noront Resources LTD owns and operates the Double Eagle Project which is located just off to the SE of the Wits Basin and MacDonald Mines project. So if Noront performs well then we should see a residual effect in the pps of Wits Basin. Apparently that is a very diamond rich area up there in Canada.
I think Dennis wants to be a Producer in his next life. I believe this Loftwise project may have been where he spends ALL of his time. I think he leaves the sale of the lofts to his sales accosciates and now focuses on these pilots. I saw him in two pictures of the set on their website. The good news is that I didn't see a bunch of expensive items on the set. Looks like a low budget operation, which means more shareholder value in the end. They started shooting the first pilot November 16th. I'd give it a month from now to really hear anything about it though. I believe this stage marks the real promotion birth of Loftwerks. As Dennis travels around to work on the pilot he will be pitching this new series, which in turn means he will be pitching Loftwerks. Good things are coming to those who wait. I see us stairstepping up from here once the pilot is completed. Good value play IMO.
This could be on the wave of a new release due out this week. Could it be the financials for the quarter? Things are heading in the right direction. Dennis just needs to keep us informed of that fact.
OT: Anyone looking for a short term flip might want to check out WITM. Yes, I do own some myself. My prediction is that they will release a key PR within the next few days concerning the company’s acquisition of the Bates-Hunter Mine in Colorado (previous releases stated 30 November as the decision date). They have already posted pictures of the mine and equipment on their website. I would highly doubt that a company would do that without intent to actually purchase the property. They have included maps of the mine shafts as well which can be used to track dewatering and exploration progress. There are other aspects of the company as well but this is the most lucrative part. Check it out and post and comments that you may have on the WITM iHub board. GLTA.
OT: Anyone looking for a short term flip might want to check out WITM. Yes, I do own some myself. My prediction is that they will release a key PR within the next few days concerning the company’s acquisition of the Bates-Hunter Mine in Colorado (previous releases stated 30 November as the decision date). They have already posted pictures of the mine and equipment on their website. I would highly doubt that a company would do that without intent to actually purchase the property. They have included maps of the mine shafts as well which can be used to track dewatering and exploration progress. There are other aspects of the company as well but this is the most lucrative part. Check it out and post and comments that you may have on the WITM iHub board. GLTA.
OT: Anyone looking for a short term flip might want to check out WITM. Yes, I do own some myself. My prediction is that they will release a key PR within the next few days concerning the company’s acquisition of the Bates-Hunter Mine in Colorado (previous releases stated 30 November as the decision date). They have already posted pictures of the mine and equipment on their website. I would highly doubt that a company would do that without intent to actually purchase the property. They have included maps of the mine shafts as well which can be used to track dewatering and exploration progress. There are other aspects of the company as well but this is the most lucrative part. Check it out and post and comments that you may have on the WITM iHub board. GLTA.
OT: Anyone looking for a short term flip might want to check out WITM. Yes, I do own some myself. My prediction is that they will release a key PR within the next few days concerning the companies acquisition of the Bates-Hunter Mine in Colorado. They have already posted pictures of the mine and equipment on their website. I would highly doubt that a company would do that without intent to actually purchase the property. They have included maps of the mine shafts as well which can be used to track dewatering and exploration progress. There are other aspects of the company as well but this is the most lucritive part. Check it out and post and comments that you may have on the WITM iHub board. GLTA.
OT:Crossbow, sorry this might be a little late, but if you are looking for a hiding gold gem I would check out WITM. I started the board on iHub, but there has not been any traffic yet. I live in Colorado and I've done some extensive research into the area that they are mining. The big issue has been that the mine was closed for years and filled with water so they have to dewater it. That is running smoothly and initial studies have shown great potential. The kicker is that by November 30th they have to complete their DD and decide whether or not to purchase the property for $3 million. They will recoupe that in the first two years if they move forward with this project. They have other stuff in Canada and Africa, but the one in Colorado (Bates-Hunter) interests me the most. Just about 66 million outstanding shares currently. Give it a look and let me know what you think.
crossbow, i agree 100%. have a good holiday everyone and hopefully we will ge tnews about the divy next week and the 995ad campaign will launch.
Take note to the board header that the decision to purchase the Bates Hunter site must be made by November 30th. The purchase price would be $3,000,000, which is cheap by many standards. The project estaimtes that there could be 1.1 million oz of gold down to a level of 2400 feet. Now it will take several years to reach that level but it is also mentioned that there are a couple other veins that run into the reqgion which could double or triple that forecast.
At the current $490 per oz that would yield $539 million in gold. Minus the cost of mining the project (say 50%) leaves $269.5M spread over say 30 years to mine down to 2400 feet. That yields almost $9M in revenues a year from this project. Once this project is up and running in full force we should recoup the cost within the first two years.
The current outstanding shares according to the website is 65,554,159 which equates to a market cap pf about $13M at the $0.20 level. IMO we are way undervalued. $20M market cap would be more reasonable which equates to about $0.30. I think we will see $0.30 before the end of the year.
Sorry for the delay on these PR's, I've been distracted. I highly encourage you to check out the company website as it now includes pictures of the site and maps of the project. As far as I can tell we dewatered to the 300 foot level in August. After the level reached below 100 feet and the assessment was successful they switched to a 35hp pump for dewatering. In comparison to the 10hp that they were using this had to move things along much quicker.
There is unlimited potential in this mining region. It all boils down to how fast they can mine it. Once dewatering hits the 600 foot level we will start to get the results. This level is where we start to get into the historic 3 to 4 oz per ton region. The 150 foot level which is about where the initial tests were done historically only show up to 2.6 oz per ton levels. Then beyond that the 727 foot level is the gold mine (pun intended). At this level there were historical findings of 5 to 8 oz per ton levels. Judging from the vein section diagram (although maybe not 100% to scale) I would say that only half of the vein has been removed which means there are tons (pun intended) of gold in them their hills.
PR from Wits Basin
Wits Basin Receives Archival Mine Maps and Results Show High-Grade Gold Assays at Depth in the Bates-Hunter Gold Mine
FRIDAY, NOVEMBER 11, 2005 7:07 AM
- BusinessWire
MINNEAPOLIS, Nov 11, 2005 (BUSINESS WIRE) -- Wits Basin Precious Minerals Inc. (WITM) has received additional information being assembled by our consulting geologist Brian Alers. Mr. Alers reports, "Published and unpublished historic maps of the Bates-Hunter Gold Mine (located in Central City, Colorado) have been compiled into a longitudinal vein section which corroborates historic high-grade gold assays reported by E. M. Jones (1939)."
Information discovered so far includes 12 high-grade assays ranging from 1.04 oz per ton to 8.60 oz per ton. These types of grades would be consistent with a mine of this size, which produced approximately 750,000 oz of gold during its years of operations.
Continued searching is uncovering additional historical data about the workings of the Bates-Hunter and adjacent mines, which is being added to our database. A more complete compilation of the known vein structures is being constructed which allows for improved re-interpretation of the veins and their junctures and in particular the unexplored gaps between the known veins and what possibly could have been overlooked for decades. Shaft dewatering continues downward, exposing successively lower levels. This will allow the Company access for mapping and sampling the exposed historical workings and develop a diamond drilling program over the coming weeks, to test for unmined areas of known veins at depth as well as undiscovered high-grade lenses between known veins.
Vance White, CEO, states, "Recent progress has allowed us to better understand the magnitude of the water we are dealing with, as the dewatering process continues. It also provides us with specific targeted areas within and adjacent to the existing workings where we can concentrate our resources to define mineralization as shaft rehabilitation continues. Currently, the shaft has been dewatered to about the third level and we will be dewatering the drifts and stopes at this level in order to drill test the hanging and footwalls."
The Company is investigating the addition of a second shift to complete the rehabilitation quicker and advance the timeline for core drilling and future mining operations.
About Wits Basin Precious Minerals Inc.
We are a minerals exploration and development company holding interests in four exploration projects and currently do not claim to have any mineral reserves on any project. Our common stock trades on the Over-the-Counter Bulletin Board under the symbol "WITM." To find out more about Wits Basin Precious Minerals Inc. (WITM) , visit our website at www.witsbasin.com.
PR from Wits Basin
Wits Basin Announces Results From Assays: Over 1 Oz. per Ton Gold Reported; Bates-Hunter Gold Mine in Colorado Proves Out Historical Data at Level Sampled
MONDAY, OCTOBER 31, 2005 7:00 AM
- BusinessWire
MINNEAPOLIS, Oct 31, 2005 (BUSINESS WIRE) -- Wits Basin Precious Minerals Inc. (WITM) is pleased to announce that the fire assay and multi-element geochemical results from the registered assay lab of Actlabs, Tucson Arizona, on 17 grab, channel and muck rock chip samples taken from accessible portions of the 112-foot level of the Bates-Hunter Gold Mine, Central City, Colorado, have been received.
In his report to the Company, consulting geologist Brian Alers reports, "The following assumptions are based on only 17 samples from one level of the Bates-Hunter mine and should be considered preliminary.
The highest fire assay from our sampling, BH-5004 was 1.03 ounce per ton gold and 3.6 ounce per ton silver from a grab sample of a 1-2 inch wide quartz-pyrite vein along the foot-wall of the Bates Vein.
The fire assay results confirm historic grade gold assay values and suggests that the value of intact vein material adjacent to major stopes in the upper portions of the Bates-Hunter mine could be approximately 1 ounce per of gold ton. The average gold assay for 64 vein samples shown on a vein section map for the Bates-Hunter mine prepared by Harry Williamson during the 1930's is 1.141 ounce per ton gold.
The limonitic clay-rich hanging-wall veins and white clay-sercite-pyrite bearing wall rocks did not contain significant gold values.
The preliminary trace element geochemical results indicate that the quartz-pyrite foot-wall veins contain elevated values of Gold (Au), Silver (Ag), Copper (Cu), Arsenic (As), Antimony (Sb), Lead (Pb), and 10-19% Sulfur (S). The limonitic clay-rich hanging-wall veins contain elevated values of Zinc (Zn), Vanadium (V), Phosphorus (P), and Tellurium (Te).
Telluride mineralization was not sampled on the 112-foot level of the Bates-Hunter mine. Only one sample, BH-5001, contained detectable tellurium (19 ppm). This indicates that hanging-wall veins may be a good place to look for telluride minerals, and tellurium values were increasing to the northeast.
The potential for the discovery of high-grade gold ore exists for these three identified potential target types at the Bates-Hunter mine: 1) untouched foot-wall and hanging-wall veins, 2) new undeveloped parallel veins, and 3) gold and silver telluride mineralization."
Additional Level Samples and Continued Rehabilitation
Vance White, CEO states, "These results confirm the presence of gold in the Bates-Hunter Gold Mine. We are working each day to get deeper into the mine where we believe grades may improve. We know that the original miners would have used rudimentary mining and recovery techniques to remove only visible ore or vein material. These so called "old-timers" did not have the benefit of the scientific testing and mining methods available today. This validation of grades on the first level, that was 'picked over' helps us to believe that additional validation should occur as we move deeper into the mine where higher grade ore has been recorded."
The project manager George Otten has worked with our staff geologist Brian Alers to recover additional samples, which are currently being assayed. Results will be released when available. Finally, our chief mining engineer, Glenn O'Gorman indicates continued progress on the dewatering and the rehabilitation towards the third level, which will allow for additional sampling and testing.
Repeating a quote from earlier releases, Wits Basin's CEO, Vance White stated, "We have always believed that the historic reports from this property were valid. The state and local records show that four million ounces of gold were mined from the immediate area surrounding the Bates-Hunter project, which produced in excess of 750,000 of those ounces."
PR from Wits Basin
Intact Hanging Wall Veins in Upper Levels Increase Potential for Early Resource Base at Wits Basin's Bates-Hunter Gold Mine Exploration Project in Colorado
TUESDAY, OCTOBER 18, 2005 7:07 AM
- BusinessWire
MINNEAPOLIS, Oct 18, 2005 (BUSINESS WIRE) -- Wits Basin Precious Minerals Inc. (WITM) is pleased to announce that geologic mapping and sampling of the upper levels of the Bates-Hunter Gold Mine in Central City, Colorado is complete. A number of two to four inch thick heavily mineralized veins were found to exist within five to six feet into the hanging wall of the Bates Vein. Seventeen rock samples have been sent to an independent registered assay lab for fire assay and geochemical testing. Analytical results are expected within the next few weeks. Preliminary, in-house assays are very encouraging. Compilation of existing data indicates the potential for three parallel veins within 200 feet northwest and southwest of the Bates vein.
Additional level samples and continued rehabilitation
While rehabilitation of the mine continues, additional mapping, sampling and assaying is being carried out on the veins, muck, hanging wall and foot wall material. This work might establish an early source of resource ounces. This process will continue through each of the seven levels. The work being performed by Glenn O'Gorman (P. Eng.), Brian Alers (P. Geo.) and George Otten demonstrates the Company's commitment to this project in its attempt to establish a near term source of cash flow for the Company.
Bates-Hunter Purchase Agreement Extension
Additionally, the Company is pleased to announce it has received a six month extension on its right to purchase the Bates-Hunter Gold Mine. This extension should allow the completion of the dewatering, rehabilitation and other related mine activities.
Wits Basin has retained the services of a consulting geologist with extensive Colorado experience specializing in the structural geology of vein deposits
Brian Alers, BA, MS, (PG-2951) has 25 years of exploration experience, 10 years of which has been in Colorado and the Rocky Mountain USA region. Mr. Alers specializes in the identification of vein-forming mechanisms and the prediction of ore-shoot geometries through the use of modern structural geological techniques.
Progress Report by Registered Geologist Brian Alers
"Shaft rehabilitation and de-watering of the Bates-Hunter Gold Mine in Central City Colorado USA has progressed to the point that the 93- and 112-foot levels of the mine are now accessible for inspection. Geological mapping and sampling of the 112-foot level was completed by the end of September, 2005. Wits Basin's on-site, in-house laboratory assay results were very favorable. Fire assay and multi-element geochemical reports from an external registered assay lab are pending for 17 additional grab, channel, and muck rock chip samples taken from the accessible portions of the 112-foot level.
Geological mapping and sampling of the newly exposed 112-level, coupled with a compilation of existing data has identified three potential target types that could lead to the discovery of high-grade gold ore. The three target types are as follows: 1) untouched footwall and hanging wall veins, 2) new undeveloped parallel veins, and 3) gold and silver telluride mineralization.
Untouched Footwall and Hanging Wall Veins
New exposures on the 112-foot level show that the old time miners only mined the high-grade central portion of the Bates vein, and 5-6 feet of vein material may still exist in the hanging wall of major stopes.
Just east of the shaft, on the 112-foot level, the Bates vein consists of a 2 to 8 inch thick coarse sulfide vein on the footwall of the zone, along with 8 feet of sheeted hanging wall veins which flank approximately 3 feet of mined material. The sulfide vein remains substantially untouched along the foot wall rib of the drift. The hanging wall veins consist of a parallel series of 2 to 4 inch thick limonitic clay and quartz rubble veins occurring about every foot or so between sericite, clay and pyrite altered wallrock. Historical mining seems to have focused on the extraction of only the richest 3 feet of veins immediately adjacent to the sulfide vein.
New Undeveloped Veins
Compilation of existing data suggests that structural features control the emplacement and geometry of the gold ore shoots and deposits in the Central City district of Colorado. In the immediate area of the Bates-Hunter Shaft, considerable potential exists for the discovery of additional zones and shoots within the extensions of 3 unexplored known veins which parallel to the Bates vein. The Gettysburg vein projection lies about 125 feet northwest of the Bates shaft, and has about 800 feet of unexplored strike length. The German vein projects southeast of the Bates shaft and may be only 40 feet away from the Bates vein footwall. The Gaston vein projects 200 feet southeast of the Bates shaft and has 1200 feet of unexplored strike length.
Gold and Silver Telluride Mineralization
Central City was the first gold discovery in the state of Colorado and was subjected to a frenzy of early activity. The Bates vein was the second vein discovered in the district, on May 19, 1859, (Fossett, 1896), and was in the center of early mining in the area. Gold and Silver telluride mineralization was mentioned in ore from the Gregory vein (500 ft Southeast of the Bates), by Pierce in 1890, but telluride minerals were not documented until 1908 at the War Dance Mine. By 1908 the upper portions of most early mines were mined-out, so the true character and tenor of the early ore was unknown.
The telluride mineralization in the Central City district is considered to represent the last stage of mineralization activity. The highest grade veins consist of fine hairline to 1/2 inch wide veinlets of black quartz enclosed within white clay-sericite-pyrite alteration envelopes that are not immediately obvious. They often follow existing veins, or cross-cut them in late stage fractures. Evidence suggests that the historical mining activities on the Bates vein were conducted oblivious of this type of gold mineralization. Considerable potential exists to identify and mine these extremely high-grade types of gold and silver veins both in the hanging wall of existing veins and as a distinct vein type."
Wits Basin's CEO, Vance White states, "We have always believed that the historic reports from this property were valid. The state and local records show that four million ounces of gold were mined from the immediate area surrounding the Bates-Hunter project, which itself produced in excess of 750,000 of those ounces. We anticipate positive assay results within the next few weeks to confirm our in-house results."
About Wits Basin Precious Minerals Inc.
We are a minerals exploration and development company holding interests in four exploration projects and currently do not claim to have any mineral reserves on any project. Our common stock trades on the Over-the-Counter Bulletin Board under the symbol "WITM." To find out more about Wits Basin Precious Minerals Inc. (WITM) , visit our website at www.witsbasin.com
Hawk, shorts getting out makes the price go up not down. They are buying to cover which would push the price upwards. If anything it could be an increase in short interest, but as previously mentioned it is not easy to short a pinkie. I'm still leaning towards some dilution but not the toxic dilution previously explained.
Can anyone show proof that the 504 shares were sold at par? I did a little research and it appears that the price of the shares is negotiated between the company and the buyer, but since they are unrestricted the company typically gets more then par. Otherwise the buyer could in fact bump them on the market the very next day for a profit. My guess is that most 504 issues were just below the market price, which by now would be a loss anyways.
Here's an old article, but still a very good read. Dated August 15, 2005.
http://www.bizjournals.com/industries/real_estate/residential/2005/08/15/nashville_story1.html?page=....
Comments:
-Recent trends have been to more contemporary furniture
-5-10% of Nashville furniture customers are loft owners
-2000 lofts expected to hit the Nashville market in the next few years (Loftwerks is ahead of the pack)
-Loft owners are typically in their 20's to 30's and affluent people (these are trendy people that will love the new loft furniture)
-"...they want something to come home to that is simple." I couldn't disagree more. The article is referring to loft owners. Younger people are not into simple stuff they are into trendy fad items with techie appeal and a new age look. As long as the new furniture does not look too much like the old castle furniture from the middle ages it will sell like wildfire if Dennis can properly reach his target market.
matt, In the past you have provided excellent DD. I've been digging and digging across the web trying to find more info on the Landsberg Lofts North in Detroit. If you could work your magic somehow to find out where we stand in that project we would all be very appreciative again. I found some other lofts in the area starting around the $160,000 to $170,000 range. One site mentioned $175-$205 per square foot of loft space. The Landsberg Lofts North project was purchased for $460,000 mortgage and required $650,000 of construction so the total was $1.1 million. There are eight units and it appears there are no commercial spots according to the picutre on the Loftwerks website. So all 8 units should sell for at least $1.28M to $1.6M.
I believe the project accross the street is also called the Landberg Lofts. That project was started in July 2000 for $1.2M with 10 units. As far as I can tell those have all been sold at least once. I also found another Landsberg Lofts under the Greater Downtown Partnership's New Center Development in August 2002 which lists these lofts as under construction. So as you can see all I have found is pieces of old information. TIA in case you are able to find anything. I am particularly interested in who Loftwerks is using to sell their lofts. Like which realtor?
bol23123, Yes they are most likely low, but I prefer to er on the conservative side of things. Keep in mind that stocks often trade at multiples of their actual value. So while I think the stock should be priced at $0.70 per share, I believe it could go higher once things fall into place.
B/A please. TIA. EOM.
FogOfWar, I am optimistic about this company.
Award Issue: This can be explained a few ways but I think someone already covered it. Perhaps IEEE sent them a replacement award. Perhaps this segment of IEEE is so tiny that they are not globally known and therefore this award cannot be proven or disproven and appears to be smoke and mirrors to bashers. To me it is a way to recognize someone within your organization. I don't care if Downs issued the award to the CTO himself.
For Real?: Are you serious about this question? I mean we all know about Downs past but come on, what could possibly indicate that this is a complete scam? Nothing bashers have stated on this board has been proven with evidence. Most items have been refuted with facts. For real, give us a break.
Opportunity:
1. Potential dividend valued at $0.80 to $1.00 for spin off of a percentage of the Homeland Security division. Ok there is a chance this could be 100% restricted shares of some pinksheet shell company. But there is also a chance that this could be 100% unrestricted shares of a OTCBB. Or it could be partially cash and partially restricted/unrestricted shares. Either way you look at it on the day of the dividend shareholders will be handed value in some form. Its all a gamble in whether it will pay off or not. I believe the portion they are keeping includes the encryption technology that was previously dicussed on this board. Some say it is cutting edge and others say it is ancient. I'm no techie so I can't say for sure, but either way it is something real. Value = $0.20
2. www.995ad.com. There are alot of naysayers on this board but to me the site is running well for its short existence. Sure, they could have stood it up faster and it could be better (when compared to eBay and Autotrader), but imagine the costs involved with doing that. I would prefer to build the site slow and steady rather then dive deep into debt hoping that the site will pay off over time. There is a potential for spinoff once this site is up and running as planned. Still several parts that need to be completed before then, but don't lose site of that. Value = $0.20
3. Datacenters and Callcenters. This is the outsourcing business that we know very little about. If I were involved with packing up operations and moving them overseas to save money on labor I would keep that to myself as well. The fact of the matter is that there is alot of money to be made thru outsourcing operations. No minimum wages, people work for half the price compared to here in the states, and there is little to no regulation of how much medical coverage you need to provide. Good source of revenues. Value = $0.20
4. Biometrics product. Even less known about this to date. Some claim this is new technology that will lead the way in the future while others called it a kitchen table operation. Either way, even if it is just an idea on paper for a cool and inovative product I know of several PK stocks with far less potential trading at $0.05. Value = $0.05
5. There are some very small business units within this organization that one can only guess about. This includes the likes of the fishing lures and the ring tones and the CD creation. These could just be shells or they could actually be making a little money for the company, one can only speculate. But again I know of several PK holding companies with less potential. Value = $0.05
So let's see $0.20 + $0.20 + $0.20 + $0.05 + $0.05 = $0.70. Oh yeh, that's why I bought this one at $0.14. Sure, I sold some on the last run to take my investment out, but I am riding the rest to at least the value of this company. I could be wrong though so let's just say the company is only worth $0.50 instead of $0.70. Still a chance to double from here.
I found a little information about a competitor two blocks away. The competitor's name is Lofts at 160, which is located on 2nd Ave. The Ambrose building is 162 4th Ave. Rentals at Lofts at 160 START at Studio = $775, One Bedroom = $950, and Two Bedroom = $1,525.
When it comes to real estate rentals one must compare the cost of rental to the mortgages to see how quickly they will rent versus sell. Take the studio for instance. Assuming a normal 30 year fixed interest loan at 6% someone could buy a place for $129,000 for less then the $775 rent each month. The one bedroom at $950 equates to a $158,500 loan. The two bedroom at $1,525 equates to a $255,000 mortgage. Seeing that one bedroom lofts in the Ambrose building are currently for sale for $129,000 and $139,000, one could speculate that Loftwerks will be able to move these units rather quickly.
Why would anyone pay $950 of rent each month when they could own the property by making a $833.38 mortgage on a $139,000 property. Seeing that the market for residential property in the downtown area of Nashville is slim one would think that the value in these lofts will increase over time. Heck if someone is able to put 10% down on an investment property then they can pocket $200 a month on a one bedroom loft.
Can anyone post how many shares changed hands today and yesterday below $0.003? And how many total trades occurred at this level?
Ok, I just found a website for a firm that is selling 504 shares at a par value of $0.001 for a shell company with no assets and no liabilities. There is a comment that says Price provided upon request. Why would they put that comment in there if the price was equal to the par value. Under 504 these shares are NOT restricted shares. So why would a company sell 504 shares at below or way below the market value? The stipulation is that these shares need to be sold to accredited investors. That means a bank, investment firm, millionaire or someone who has made over $200,000 for the past two years. My guess is that any investors that got in on the 504 initially are dumping to preserve some capital. Thus the increase in available shares.
http://www.articlealley.com/article_3205_19.html
Jim, I don't think companies sell their shares at par value. They record it on their balance sheet at par, but I'm pretty sure that companies negotiate the share price for 504 offerings. I'll do a little more research to see if I can find the rules.
OT: Jim I'm not saying that that is your real name but if it were then I knew someone by that name in PA. I'm sure you probably don't know the guy though.
There are two ways to look at dilution at this point. One, it means that we have not yet reached the 200 million cap, which in turn means that there is more value here then originally assessed. The second way to look at it is that if Dennis has sold a few million shares over the past few days then he go about $0.004 or $0.005 per share. Today he can buy them back for about $0.003 per share. Probably after taxes and fees though this wouldn't be much profit.