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The restriction doesn't stop Dwight and Robert dumping shares to the market through the 504 to raise funds for salaries/expenses and to keep the club open.
The restriction is only on personal shares owned.
GM
Well when the guy decides he isn't open to communication anymore that will kill the price on a shell.
We went from the company in negotiations with a company that may have revenues between $10 and $30 million 12 -18 months ago to no contact.
GM
seeker meaning what ??
GM
Disgusting - Note to myself don't buy shares in a pinksheet company that has an open 504. God knows where the O/S and PPs will end up.
If the CEO gave a shit about his shareholders, like he said in the PR, he would issue a PR letting us know know exactly how many shares he was going to issue.
GM
spooky we know the company has dumped/issued more shares to the float and increased the the O/S based on previous posts from Geccos, to what extent they have dumped is what I would like to know.
I would like an official update on pinksheets from the company and a PR stating what the o/s is and wither they are going to continue to dilute.
Probably not much chance of getting that sort of data being a pinkie.
GM
2,606,000 in buys and 550k in sells and we are down 21%.
All things being equal that signifies dilution.
What I hate about these CEOs is they release PRs making statements like below and then proceed to dump shares and increase the A/S and then no follow up PR. No bloody respect for shareholders.
''Now that this is behind us, we can resume focus on our significant travel marketplace opportunity and the potential for explosive growth. Our shareholders should be rewarded for their patience during this past year.”
''The Company expects to make announcements soon concerning material financial accomplishments and to provide a view to its business strategy.''
GM
Geccos I have never heard of that one before.
Are you saying that the MMs are dumping shares that don't
exist i.e. they illegally dumping shares to the market.
GM
They allow a buy of 1.5m shares last night at .0019 and then they sell 1000 shares at .0015 and then allow 200k buys at .0016.
Something wrong with this picture, either the MMs playing games and the buys are actually sells or their making up trades or they know there is alot more stock to be dumped.
GM
Thanks bpar_1.
I always thought a good idea for the magazine was for the company to allocate space for the various colleagues or universities that they were targeting, let them have their own input to the magazine. It would develop relationships with their target market and on the back of that give potential advertisers in the mag the confidence that the publication was reaching and had an impact/influence on that demographic.
I am sure there would be many businesses that would like to advertise their products and also market job opertunities to students that were about to complete their courses - pass their finals and start looking for jobs.
GM
Thanks bruddah
So I take it the 19,000 models that Yessnet are suppose to represent across North America is BS or are they doing it all out of their CA office?
Did they say what business was taking place out of the NY office, surely it just can't be the magazine ?
Did you still believe that Yessnet is still part of the Warning group based on Knowledge of the magazine?
''YESSnet (www.yessnet.com) is the world's largest online marketplaces for event staff and modeling talent. Representing over nineteen thousand (19,000), YESSnet connects thousands of event staff and models across North America to promotional and marketing companies, allowing them to staff events wherever, whenever''.
Cheers GM
Hi Geccos
Do you know if the company is still in dumping mode against the 504.
I know there has been very little activity lately but that is because no one is buying due to the lack of news coming out from the company, which prevents them from dumping more to the float.
If they release news about financing and get the investment community motivated again to buy, do you think they will use the buying pressure to dump more shares or let the PPs run ?
Thanks GM
I have yet to see a company or group of companies struggling for cash to try and maintain current operations put themselves in even greater financial problems trying to raise $millions to pay a cash settlement. Especially when they did not need to.
I think there maybe a few get out clauses in the latest 8k.
GM
Must admit don't like that the MMs are willing to sell 1.5m shares in a stock for .0019 that has supposed to have a O/S of less than 100m.
Does not make sense, a 1.5m buy does not make the price move ???
GM
Has anyone ever phoned Yessnet on these numbers to see if they are still part of the warning group?
714 300 0500 CA
917 472 1888 NY
If there is no response to these numbers or if whomever ans does not confirm the relationship I would think we are in pretty bad shape.
GM
Argonath if TCHH bought greater then 5% of the o/s then they would have to register those shares with the SEC. If current PAVC management bought more shares than their current ownership, which I assume is greater then 5%, they would have register an amendment to their current position (FORM 4 I think). It would be visible to all in their filings.
GM
rockie101 if you do not believe what bruddah says then what do you believe is happening with company? as I said before it is a little more difficult and expensive for me to corroborate what he is saying living in the UK.
For instance what do you think of :
1. The warning management site being down.
2. No update on the magazine publication.
3. Bruddahs statement on what the TA said about WNMI. Has
anyone confirmed ?
I think this would be a big indication of the companies
health if the company is non compliant and they can't get
in touch with management. I hope this is not the
case.
4. What about the individuals leaving the company ?
GM
Labast yip it makes sense.
This whole deal relys on TCHH managing to raise sufficient funds for not only the buyout but also to fund on going operations per the terms of the agreement of merger.
Together that is a sizable amount of cash they will have to raise and to date they have not shown what source that is going to come from.
The deal they have done with Mistral does not leave me all warm inside. Mistral has no History of raising that level of financing for a 3rd party, infact very little history of raising any type of cash.
IMO For this to work, for the market to sit up and take notice and have a positive impact on the PPs, TCHH will have to release a PR that details unequivocally how they are going to raise the cash, with who and what the terms are going to be. Hopefully it is with a reputable firm or financier that will bring legitimcy to the deal.
I also think they should be taking advantage of the current market price to buy PAVC shares and reduce financing levels, if allowed to do so.
GM
Hi PEEPS
I have been reading what people have been posting over the last while and there is obviously a level of frustration with the company.
I must admit I did not like to hear that the TA cannot get in touch with the company (If what bruddah stated is correct), I do not like the idea warning management site is down and the magazine seems to be on hold and I certainly don't like the idea that key personnel have left the company (again if what Bruddah has stated is correct).If all that is true then the company, on the face of it seems to be closing up shop but who would know because they do not communicate with us and it is near impossible to get in touch with key personnel.
I agree that not every trade is dilution, for the company or CD holders to dilute further (dump shares to the market) there would have to be retail investors willing to buy the shares they are dumping, who in there right mind would do that considering there has been no pump PRs from the company to motivate investors into buying.
This company has left its shareholders in a bad way over the last year by not communicating the status of company activities, if we still have a company left that is.
Is there anything we can do to get in touch with any insider that could give us an idea of what is going on?
For instance do we still own Yessnet and are they still operational, if yes could we contact Maria cook (I think she was president of Yessnet)to get some answers. What about Dean Wiltshire or Norma Quinto who were suppose to be heading up the NY office (or was that a lot of bull).
I am from the UK so a bit expensive for me to go on a phoning spree around the U.S.
GM
IMO there is one thing that would get this stock moving towards the 10c mark and that is an announcent from PAVC management or from TCHH management that they are going going to start purchasing shares at these levels.
If PAVC management announced they were going to buy they would have to file a form 4 to show their change/increase in ownership.
If TCHH (the company) start buying they would have to file a form 3 (i think) if they purchase greater than 5%/10% of the outstanding shares in the open market or through private negotiations.
Why would either PAVC management or TCHH the company not do this if they had the money. If TCHH the company had the money to buyout at 10c why would you not buy all you can legally in the market at say between .015 - .08 and save the new merged entity alot of money in the financing front.
Just a thought.
GM
I read the PRS from late Nov early Dec again and certain statements are confusing when tied in with their last 10q
Not trying to spook anyone just trying to get an understanding of their financial well-being
PR Nov 28th
“We are pleased to have reached an agreement that provides a substantial balance sheet improvement and clears the way to focus on restoring business operations,”
How long were operations closed and how were salaries paid for in this period ?
The Company expects to make announcements soon concerning material financial accomplishments and to provide a view to its business strategy.
What announcements could there be with regards to financial acccomplishments if operations were closed ?
They already stated in this PR that there was a $6m debt reduction based on the settlement so what else could they be talking about.
From their last 10q dated 08/14/2006 which covered upto the end of June 2006 total liabilities were $16m - apart from the $6m debt reduction based on settlement of the claim how could they further reduce the balance of liabilities if operations were closed?
They only had $214k in the bank at the end June and their operations were loosing about $2.5m per quarter, if anything I would have thought liabilities would have increased.
Sensible feedback appreciated
GM
bullcents there are now more than 700m shares outstanding, see Geccos post 3718, he was told by management that the o/s has been increased to 901m shares but at this time there is no way of confirming that. We also do not know what the float aspect of the o/s is now and management ownership since the increase.
What I do know is that from Sept 2007 to the end of Jan this stock has traded 1.3b shares. I would be realy surprised if the float is 450m or less based on those figures.
GM
I remember reading that there was a nasd small cap company (bank-mortagages)that was shorted substantially. They had tremendous growth over a short period of time and were starting to make significant profits which they were paying 6 monthly dividends on.
It was reported that the MMs had a significant short position in the stock but instead of trying to clear the short position and increasing the PPs to the level they should have been under normal market conditions(supply/demand)they continued with the short position and had to pay a % of the dividends out of their own pockets.
I am sure they weighed up the pros and cons of raising the PPs to market value to free up shares and incurring losses on their short position or paying a % if the dividend and decided on the latter.
It so happened this company took a major hit when the sub-prime hit last year and the shareprice collapsed. I think the bank was considering sueing the brokers/market makers.
The same thought process might be going through the minds of the shorters in the stock, maybe they think the 10c payment won't transpire, who knows.
GM
I thought the A/S was greater than 100m and I believe the o/s is now also greater than 100m.
The MMs are not stupid they do not trade millions of shares at the current price (which they have been doing for some time now) if the public float was less than 50m, which it would have to be if the o/s was 100m or less. There are people on this board who own 1m/2m+ shares in the company which would be a significant % of the float if 50m or less.
Whats annoying is that diamondd confirmed the A/S on the 01/09 of 105m and braden32601 got an e-mail repley from the CEO on about the 1/10 stating the current A/S to be 100m. He must have had known and had intent at that time to in crease the A/S to 500m.
I hope the increase is to support external financing and the allocation of shares are restricted. I also hope he has learned from his previous mistakes and does not get involved in an financial agreement that involves CDs or has significant penality clauses if we fail to meet the payment schedule.
GM
Tax_man the reason I think it has worked for them in the past with PAVC is because there has been no cutt-off point for reconciliation of shares I.E. cash settlement.
Short positions can last for as long as the brokers/shorters want putting continual downward pressure on a stock over a long period of time. It takes an event like this where you have to reconcile the share count - not only for cash payment but also for the swap of PAVC shares for TCHH shares on a 1 to 1 basis.
My only concern is the 10c offer does not transpire as I have yet to see from TCHH where they will get the money to fund the offer i.e. if the o/s of PAVC is 100m then that would mean they would have to find $10m to make payment - if it is only against the float say 50m then that would obviousley be $5.
GM
tax-man using your logic if the MMs/brokers continue to short or oversell the float and retail investors continue to buy millions of shares at the current range or lower, then when it comes to the cash payment date (if it happens)then the MMs are going to have to come up with cash to cover all those shares they have over sold against the o/s of PAVC.
GM
Buys 6.8m sells 3.1m and price is dow 44%.
So what does the buy to sell ration have to be to move the price up ?
rediculous.
GM
Argonath have you looked into the background of Mistral Fundings ?
1. How long have they been a funding company ?
2. How much profits have they made from past operations ?
3. What success stories have they had to date with funding
growth companies.
4. How much money have they raised/loaned to date to fund
their clients.
5. What are their normal terms for financing.
6. How much money would they have to raise as a total to not
only fund the merger obligations but also to pay a
significant cash price to current PAVC.
shareholders.(rough guess is about 40 - 50m in the float)
It always makes me feel all warm inside when the address of the principal officer is in canada and state of incorp is NV.
I would love to walk away with a decent cash payment but I
cannot see where there is any free cash in any of these
relationships. An entity that is already in debt and requires to raise money to sustain and build operations does not take on the burden of additional debt to pay shareholders a significant cash settlement.
GM
Yip Dallas a real nasty smell.
Shares and money will be getting passed back and forth between the entities like a mini Enron.
They must think the investing public are real stupid - 2 minutes of DD and you realise what they are upto. With a supposed 72 million in revenue and they can't get proper funding.
I doubt the investing community will buy into this - hope they do so I can get out.
GM
So where is the debt restructuring ? They stated they were hoping to close it by the end of December, well it is now the end of January and nothing.
And no update on the share structure.
Amazing when they were dumping shares there were positive statements coming to the board from various posters now it seems difficult to get in touch with our management team.
GM
The CEO has to deliver something substantial and tangible for investors to believe in - so far all we have had is a couple of vague PRs stating they are working on a business plan.
We also have had decreasing PPs based on dilution, to what extent that dilution exists who knows.
Need a lot more than that from a pinksheet company to get the price moving.
GM
Hi diamondd is there still no change at state level with regards to the A/S ?
Thanks GM
So Geccos whats the scoop with the o/s structure? you said you would be speaking with Management about 2 weeks ago on the matter. Thanks.
Is it getting harder for our leaders to explain away the volumes trading on a daily basis. Just to remind everyone of what they stated in their PR of Sept 27 2007.
Especially like the bits about getting our share price up, enhancing shareholder value and making shareholders money.
The shareprice was trading at about 1 cent at the time of the PR release we are now at 100th of a cent. Maybe I missed the tutorial in my economics class where it stated that when a stock price falls 99% and the o/s increases dramatically that the existing shareholders make money.
Waste Recovery, Inc. Announces the Retirement of 1.5 Billion Issued and Outstanding Shares
Thursday September 27, 10:00 am ET
SANTA ANA, CA--(MARKET WIRE)--Sep 27, 2007 -- Robert R Susnar III, the newly appointed CEO of Waste Recovery, Inc. (Other OTC:WRII.PK - News) announced the retirement of 1.5 Billion shares of stock.
ADVERTISEMENT
"We are focused on getting our share price up and enhancing shareholder value," Susnar said in an interview today. "It is my belief that if we are in fact going to get this company on the right track we need to do everything in our power to make our shareholders money." According to Susnar this is the first step in many to come aimed at improving the cap structure of the company.
About Waste Recovery, Inc.
Waste Recovery, Inc. is a development stage corporation mandated by its shareholders to seek out business opportunities to acquire or merge with to create value for its shareholders.
For more information available to the public, contact the investor relations dept. at 949-861-9620.
About DR Entertainment Group
DR Entertainment Group is the parent company of the world famous MINXX Gentlemen's Club in Las Vegas, NV. This is a 10,500 square foot adult entertainment club including building and real estate assets estimated at approximately $12,000,000.00 USD.
Forward-Looking Statements
On the back of Ricks statement does anyone know if the recession which many are predicting take's hold will have an impact on the spend power of individuals and company reps that frequent these type of clubs ?
Not sure, never done or read analysis on the effects of recession on the adult entertainment industry.
GM
To anyone - do we know or can we surmise what parts of the business are still in operational mode for Warning?
i.e YESSnet, Magazine.
Thanks GM
What a bunch of fu***** they are. Year high $1.30 currently .005.
I am convinced that the majority of pinksheet and otc are devoid of conscience and morality. They would screw their family to steal a buck.
GM
The management of this company are nothing but scam artists. They have done nothing but dilute the crap out of this stock over the last year and release bogus PRs. They made sure the JPHC shareholders would get next to nothing for there shares by getting in first and diluting the stock.
In the real world when does a company that has no revenue, no cash and have given no info as to where they are going to get the funds be allowed to take over a supposed $73 million a year revenue company.
I take it the AS had to be increase to accomodate the employee benefit plan per the S-8 filing 01/02/08, The issue of an additional 50m shares (just like that).
GM
''Potentially increase shareholder value''
The company has managed to put the shareprice in the toilet over the last year through dilution and have recently said in a PR that the value of the company is worth .54/.60 cents per share and now when we sit at .02 with the deals hopefully about to be done (the ones that are suppose to give us a value of .54/.60)and the PR states ''potentially increase shareholder value''.
Makes you feel all warm inside.
GM
I just noticed that the warning management web site is no longer - is this a bad sign ?
Can company directors be reached i.e. are company phone numbers and e-mails still in operation?
GM
How desperate for cash does a company have to be to sell that amount of shares at .0001 and how much respect and concern do you think they have for the shareholders investment in the company when they do that?
I have said before that unless the company stops diluting then it does not matter what news is PRd it will still remain at these levels.
It is the first shell merger I have been part of where the new owners have completely ripped the crap out of the O/S and float and PPs in such a short timescale.
I hope for all of us that dilution stops and we have a chance to recover some of our investment. We will need to see some serious buying from retail investors to move this out of the .000 level based on the amount of shares that have been dumped down here.
Management have not exactly covered themselves in glory thus far.
GM
I remember everyone telling me to read the PRs, that there was only 200m in the float, that I had no proof that they were diluting. Where are all these people now. The proof was staring everyone in the face with the amount of shares that were being traded on a daily basis.
The bottom line the company lied to us, they released a PR telling us the float was only 200m and O/S 700m and since then they have done nothing but diluted the shit out of the stock. That is called the pump and then the dump, I also remember those PRs that referenced the share price of other established men’s club, again the pump trying to get us all excited about share prices in the $$$.
Like the majority of pinksheet owners they do not give a toss about the financial welfare of their shareholder and never will. This was a ticket to raise cash for a new PRIVATE enterprise that was struggling to meet its bills.
GM