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RU still watching this li'l gem? She's shiny today,imo...
gl2u
Thanks for the info,Moshe.
I don't see it trading today,old or new symbol.
I might be missing it though.
Just watching for now but will do a little DD later.
GL
Moshe, Whom did you speak with at the company?
Profitable? I thought they were still in development?
As far as looking to move to the BB, they bought the wrong shell if that is REALLY their intention. This one hasn't filed in more than 10 years.
gl2y
I'm on my second can of Entenmann's/JVA Coffeshop Blend and they haven't even put out a rollout PR...as the PPS bottoms out...added a few today @2.30,fwiw.
May 7, 1984 Silva Hall, Hult Center, Eugene, Or. (Mon)
Soundboard Master Cassette (Charlie Miller Transfer)
1: Iko Iko, C. C. Rider, Loser, Mama Tried> Big River, Bird Song, Brother Esau> Deal
2: China Cat Sunflower> I Know You Rider, Estimated Prophet> Eyes of the World> Drumz> The Wheel> Throwing Stones> Not Fade Away E: Baby Blue
Bill Kreutzmann's 38th birthday - "Happy Birthday" before "Mama Tried"
Metalico Completes Placement, Snyder Group Purchase
Monday May 5, 9:25 am ET
CRANFORD, NJ--(MARKET WIRE)--May 5, 2008 -- Metalico, Inc. (AMEX:MEA - News), a rapidly growing scrap metal recycler and lead fabricator, today announced it has completed its previously announced private placement of $100 million in convertible notes and has used a portion of the proceeds to acquire the assets of the Snyder Group, a multi-yard fully integrated scrap metal recycling operation in Western Pennsylvania and West Virginia.
The acquisition includes the business operations of Grand Avenue Incorporated, Assad Iron & Metals, Inc., Heidelberg Metals, Inc., (which does business as Neville Metals), Neville Recycling LLC, and Platt Properties LLC, a group of affiliated companies. The assets are located principally in the greater Pittsburgh, Pennsylvania area where collectively the selling companies comprise a leading recycler of ferrous and non-ferrous scrap metals.
Among the assets acquired is a Texas Shredder model 80/104 operating on the Grand Avenue site on Neville Island, Pennsylvania, and Harris shears, Harris balers and a fleet of transportation equipment for the pick up and delivery of scrap. Metalico's purchase also includes four feeder yards that source scrap for the shredder and are located in Pennsylvania and West Virginia. The two principal operating sites in Brownsville and Neville Island are served by rail and the Neville Island location also has river barge shipping and receiving capabilities. The total purchase price was approximately $76 million, plus $3.8 million for excess inventory. Accounts receivable and payable were retained by the sellers. A $7 million portion of consideration was paid in Metalico common stock.
The acquired operations generated sales of $120 million in 2007 and shipped approximately 300,000 gross tons of ferrous and non-ferrous metals.
The company will continue to be operated and managed as Metalico Neville, Inc. by James R. Snyder, Charles B. Snyder and Daniel R. Snyder, the former owners, and by their team of dedicated employees, which also includes other Snyder family members.
Commenting on the transaction, Metalico President and Chief Executive Officer Carlos E. Agüero said, "We are very pleased to add the Snyder group of companies to Metalico and thrilled with the opportunity to work with such a distinguished group of seasoned industry veterans."
In addition, Agüero added, "This purchase provides Metalico with an exceptional platform to expand the volume and profitability of the ferrous component of our business. Given the favorable markets trends and the high scrap steel prices that we are experiencing, it is a timely period to increase our exposure to the ferrous commodities."
In the private placement, Metalico issued 7% senior unsecured convertible notes in the aggregate principal amount of $100 million, which notes are convertible into shares of Metalico's common stock at an initial conversion price of $14.00 per share. The notes mature on April 30, 2028 and are subject to certain redemption, repurchase and anti-dilution rights. In addition, Metalico issued to the purchasers of the notes a total of 250,000 warrants for shares of Metalico's common stock with a term of six years. The exercise price of the warrants is $14.00 per share, subject to adjustment.
The Company intends to use the remaining net proceeds from the offering to fund potential acquisitions and, subject to obtaining the consent of certain of its securities holders, for working capital purposes.
The notes, the warrants, the shares of common stock issuable upon conversion of the notes, and the shares of common stock issuable upon exercise of the warrants have not been registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration under the Securities Act and applicable state securities laws or an applicable exemption from those registration requirements.
Metalico has agreed to file a registration statement with the United States Securities and Exchange Commission covering the shares issuable upon conversion of the notes and upon exercise of the warrants sold in the offering no later than 45 days after the effective date of a registration statement the Company is committed to file in connection with a private placement of equity completed in early April 2008 and to use commercially reasonable efforts to cause the registration statement to be declared effective within 90 days (or 120 days upon receipt of comments from the SEC after the filing of such registration statement), subject to the Company's right to delay such obligations under certain circumstances. The Company will include the shares issuable in connection with the debt placement in the registration statement to be filed in connection with the equity placement upon receipt of the requisite consent of the investors in the equity transaction. In the event Metalico fails to meet its obligations, it will be subject to customary penalties.
Morgan Joseph & Co. Inc. acted as placement agent in connection with the placement.
This press release does not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.
Metalico has filed a Current Report on Form 8-K with the Securities and Exchange Commission describing in more detail the terms of the private placement and the acquisition.
Metalico, Inc. is a rapidly growing holding company with operations in two principal business segments: ferrous and non-ferrous scrap metal recycling, and fabrication of lead-based products. With its recent acquisitions, the Company operates twenty recycling facilities in New York, Pennsylvania, Ohio, New Jersey, Texas, Mississippi, and West Virginia and five lead fabrication plants in Alabama, Illinois, Nevada, and California. Metalico's common stock is traded on the American Stock Exchange under the symbol MEA.
Forward-looking Statements
This news release also contains "forward-looking statements" made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements related to the potential acquisitions. Forward-looking statements include statements with respect to Metalico's beliefs, plans, objectives, goals, expectations, anticipations, assumptions, estimates, intentions, and future performance, and involve known and unknown risks, uncertainties and other factors, which may be beyond Metalico's control, and which may cause Metalico's actual results, performance or achievements to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. All statements other than statements of historical fact are statements that could be forward-looking statements. Metalico assumes no obligation to update the information contained in this news release.
Contact:
Contact:
Metalico, Inc.
Carlos E. Agüero
Michael J. Drury
Email Contact
186 North Avenue East
Cranford, NJ 07016
(908) 497-9610
FAX: (908) 497-1097
http://www.metalico.com
--------------------------------------------------------------------------------
Source: Metalico, Inc.
http://biz.yahoo.com/iw/080505/0393498.html?printer=1
8-K here:
http://biz.yahoo.com/e/080505/mea8-k.html
LOL...slander or libel? It's such a tough concept to grasp, I know. Best to use defamation as your safe on both counts. Your still way out in left field but grammatically correct. GL
ps-Most legal beagles will agree that statements of opinion are not actionable.
IMO
Oh,How unfortunate! I would expect new shares to be printed on the heels of that action.(IMO) They have a new symbol in the pipe too:
Notes:
N/C to The Anviron Holding Company (ANVH)
http://www.otcbb.com/asp/dividend.asp?sym_id=BCHP&dDate=5/8/2008&sDateType=ex_date
GL2A
OK, I see now they were rehosted but the bottom 3 pictures appear to be password protected...fwiw.
BHS, I get a password request when viewing the ibox today, apparently related to some of the images jacked from another site, possibly the lawyers since I don't see their logo anymore. Best to download the image and rehost it so you don't clog the server of the company you jacked the image from,lol...They were probably wondering why their website was getting thousands of hits everyday.imo
Here's the message:
The server img25434.fotothing.com at Fotothing Admin requires a username and password.
Warning: This server is requesting that your username and password be sent in an insecure manner (basic authentication without a secure connection).
GL2A
RU,I wonder if they've set a settlement date for that building deal. Those things are usually hammered out in DETAIL before any MONEY changes hands. Good thing there are public records of such transactions. Good times for the Kistler's,mmmhmm...
It's a shame the same transparency doesn't apply to the transfer of pinker shells,huh? Then the kids could know who really owns this company.
Albert Hofmann, the Father of LSD, Dies at 102
April 30, 2008
By CRAIG S. SMITH
PARIS — Albert Hofmann, the mystical Swiss chemist who gave the world LSD, the most powerful psychotropic substance known, died Tuesday at his hilltop home near Basel, Switzerland. He was 102.
The cause was a heart attack, said Rick Doblin, founder and president of the Multidisciplinary Association for Psychedelic Studies, a California-based group that in 2005 republished Dr. Hofmann’s 1979 book “LSD: My Problem Child.”
Dr. Hofmann first synthesized the compound lysergic acid diethylamide in 1938 but did not discover its psychopharmacological effects until five years later, when he accidentally ingested the substance that became known to the 1960s counterculture as acid.
He then took LSD hundreds of times, but regarded it as a powerful and potentially dangerous psychotropic drug that demanded respect. More important to him than the pleasures of the psychedelic experience was the drug’s value as a revelatory aid for contemplating and understanding what he saw as humanity’s oneness with nature. That perception, of union, which came to Dr. Hofmann as almost a religious epiphany while still a child, directed much of his personal and professional life.
Continued here:
http://www.nytimes.com/2008/04/30/world/europe/30hofmann.html?_r=2&ref=obituaries&oref=slogin&oref=slogin
Happy trails, Doctor Hoffman.
I'm not attempting to mislead anyone. I was VERY surprised to find that this property was owned by a relative of the IR guy. It doesn't seem to be the type of property that would benefit an internet start-up company.
As a shareholder, don't you think it's just a little suspicious that they would buy property from a consultant's relative? I think those that ignore this conflict of interest are being disingenuous at best.
IMO
gl
My guess is that the structure next door in the first picture was a tractor trailer that was later moved. The windows upstairs (in second picture) indicate the possibility of an office loft having been added, increasing the office space. Hence, the increase in sq ft. IMO
Only if it can be proven that they did so knowingly. It wasn't a contract or binder, just a listing. Could be an honest mistake,bad estimate, forgot the decimal point in the lot size. The legal basis for damages is shaky at best. IMO
Nike started selling shoes in the back of a van.. This is a much better start
Is it? What does this company sell?
Oh, I believe the tax assessor had the right building and property size. Real estate agents exagerate all the time. Let's say the dimensions of the property are uncertain, shall we?
GL
Hey, that building looks MUCH better with a coat of white paint and the junk car moved...easily worth another thousand now. Slap a sign on there and you've got yourself a Corporate Headquarters in Lima, Ohio.
That real estate agent deserves a 3% raise. Were they the agents that handled the listing for the Kistler family?
GL2A
The New ADCS Corporate Headquarters
TEC...Teton... looks to continue,imo...serious tree shaking and head faking, though
WMAR...West Marine...Ready about! Hard to lee!
OK, you got me there.
I'm short as a dwarf and sweating bullets.
LOL
Not sure, probably 1996. Mgm't must have a more current picture of the property. I'm sure they did extensive DD and market analysis in the greater Lima area before deciding on this particular property. They should put a current picture up on their website. They should also build their website beyond the Investor response page, imo.
Kistler should have a current picture handy. Don't you think?
GL
No, not odd at all. I thought the purpose of public discourse was to discuss and debate the positive AND negative aspects of this security.
I don't see how a warehouse that the IR guys brother happened to own is the best possible investment in corporate real estate at this crucial juncture for this upstart company that doesn't even have a functioning website built yet. That's what I find odd. IMO
GL
AQUI...Aquagold...
just watching, caveat emptor
I think you need a picture of ADCS Corporate Headquarters in the Ibox.
1046 North Jefferson Lima, Ohio (car not included)
...and it is only 2400 sq ft NOT the 3240 sq ft that MGM'T claimed in the PR. Maybe they included the car,lol...
The Entenmann's coffee is hitting the shelves and they haven't even mentioned it, as SP visits an all time low,low,low.
Good times for bottom feeders,imo.
Hard telling with no volume,lol...
Thanks for your industrial insights here! The OS is 35.4mil(as of 4/9)
and the float is estimated at 24.4mil. There's an earnings call Thurs.
I think short covering on that announcement(4/14) sparked the recent rally(imo)
Strong growth expected,imo...
Metalico Schedules April 24 Call for First Quarter Results
Monday April 14, 9:15 am ET
CRANFORD, NJ--(MARKET WIRE)--Apr 14, 2008 -- Metalico, Inc. (AMEX:MEA - News), a scrap metal recycler and lead products fabricator, will host a conference call on Thursday, April 24, 2008 at 10:00 a.m. Eastern time to discuss First Quarter 2008 earnings results, which are scheduled for release earlier that day, and to provide an update on business developments.
The conference call can be accessed by dialing (866) 213-8494, Conference Identification Number 42429235. Callers should identify the Metalico results call.
A transcript of the call will be posted on the Company's website, www.metalico.com, when available after the call. An audio replay of the call will also be available at (800) 642-1687 for the first forty-eight hours after the call's conclusion. Callers will be required to enter the Conference Identification Number to access the recording.
Metalico, Inc. is a rapidly growing holding company with operations in two principal business segments: ferrous and non-ferrous scrap metal recycling, and fabrication of lead-based products. The Company operates thirteen recycling facilities in New York, Pennsylvania, Ohio, New Jersey, Texas, and Mississippi and five lead fabrication plants in Alabama, Illinois, Nevada, and California. Metalico's common stock is traded on the American Stock Exchange under the symbol MEA.
This announcement and the April 24 conference call may contain, in addition to historical information, certain forward-looking statements that involve risks and uncertainties. Such statements reflect management's current views and are based on certain assumptions. Actual results could differ materially from the assumptions currently anticipated.
Contact:
Contacts:
Metalico, Inc.
Carlos E. Agüero
President and Chief Executive Officer
Michael J. Drury
Executive Vice President
Email Contact
186 North Avenue East
Cranford, NJ 07016
(908) 497-9610
FAX: (908) 497-1097
http://www.metalico.com
--------------------------------------------------------------------------------
Source: Metalico, Inc.
http://biz.yahoo.com/iw/080414/0386083.html?printer=1
Cleantech Report: Recycling Industry Offers Recession Proof Investing
NEW YORK, April 1, 2008 /PRNewswire-FirstCall/ -- Between record high oil prices, the volatile stock market and a recession, it's a tough time to be an investor. But there's a little known bright spot on the market that actually benefits from high oil prices -- the Recycling Industry.
In fact, the Recycling Industry offers investors one of the few ways to profit during the current recession, according to a report released by Progressive Investor, 'Investing in Recycling.'
'Ever escalating energy prices, commodity price inflation and scarcity, and global environmental concerns have coalesced into a 'perfect storm' for the industry,' says Eric Prouty, Senior Energy Analyst, Cannacord Adams.
Many people aren't aware of the central role the recycling industry plays these days. It has become a backbone of our economy, pulling in $236 billion in revenues last year and employing over a million people. The industry accounted for about 2% the U.S. gross domestic product in 2007.
At the current rate of resource depletion, especially from emerging economies like China, the world literally can no longer satisfy demand for paper and steel from virgin materials alone. Recycling has become an absolute necessity for industrial growth and stability. We couldn't print a newspaper, build a car, or ship a product in a cardboard box without recycled materials.
'Although we usually think of the benefits of recycling as reducing waste and protecting forests and habitats from mining and clearcutting,' says Rona Fried, editor of Progressive Investor, 'it is also a key solution for climate change. Making new materials from old ones is a classic example of energy efficiency -- it vastly reduces the amount of energy (and resulting emissions) required to support our economy.'
For example, making aluminum from scrap uses 96% less energy than from virgin minerals, while making iron and steel from scrap requires 74% less energy. Two thirds of the steel produced in U.S. is now made from recycled materials.
Progressive Investor identifies the following trends benefiting the Recycling Industry:
-- The higher energy costs go, the more economically valuable are recycled
materials. Example: energy accounts for 20-30% of the cost to make
metals such as aluminum and zinc.
-- Metal prices are rising sharply from strong demand - partly from growth
in India and China -- creating strong economic incentives to recycle
all kinds of metals
-- Recycling benefits from the attention to climate change for its ability
to reduce the energy intensity of manufacturing and methane generated
by landfill waste.
-- Growing recognition that natural resources are scarce, finite, and
increasingly expensive to mine. Example: virgin copper and zinc
supplies could be completely exhausted within decades.
-- Rising concerns about pollution from discarded electronics
The report profiles the World's Top Recycling Stocks, including:
-- Casella Waste Systems (Nasdaq: CWST): regional solid waste company;
strong focus on recycling.
-- Metalico (Amex: MEA): small cap metals recycler.
-- Schnitzer Steel (Nasdaq: SCHN): vertically integrated scrap metal
recycler and steel manufacturer.
-- LKQ Corp (Nasdaq: LKQX): dominates the U.S. automotive replacement
parts market.
-- Interface (Nasdaq: IFSIA): leading carpet tile manufacturer uses a high
percentage of recycled material.
-- Sims Group (SGM.AX; NYSE: SMS): the world's largest metals and
electronics recycler
4/9: Metalico Completes Private Placement
Wednesday April 9, 4:05 pm ET
CRANFORD, NJ--(MARKET WIRE)--Apr 9, 2008 -- Metalico, Inc. (AMEX:MEA - News), a rapidly growing scrap metal recycler and lead fabricator, today announced it has completed its previously announced private placement of its common stock with institutional investors, raising $28,750,000 of gross proceeds. In connection with the private placement, Metalico issued an aggregate of 2,923,077 shares of common stock at a price per share of $9.75 and 1,169,231 warrants to purchase its common stock at an exercise price of $12.65 per share for a term of six years.
The shares of common stock and the warrants issued in the private placement have not been registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration under the Securities Act and applicable state securities laws or an applicable exemption from those registration requirements. Metalico has agreed to file a registration statement with the United States Securities and Exchange Commission covering the shares and the shares underlying the warrants sold in the offering no later than forty-five days after the closing, and to use its best efforts to have the registration statement declared effective as soon as practicable thereafter. Metalico now has approximately 35.4 million shares of common stock outstanding.
Canaccord Adams, Inc. acted as placement agent in connection with the offering.
This press release does not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.
Metalico, Inc. is a rapidly growing holding company with operations in two principal business segments: ferrous and non-ferrous scrap metal recycling, and fabrication of lead-based products. With its recent acquisitions, the Company operates fourteen recycling facilities in New York, Pennsylvania, Ohio, New Jersey, Texas, and Mississippi and five lead fabrication plants in Alabama, Illinois, Nevada, and California. Metalico's common stock is traded on the American Stock Exchange under the symbol MEA.
Forward-looking Statements
This news release also contains "forward-looking statements" made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements related to the potential acquisitions. Forward-looking statements include statements with respect to Metalico's beliefs, plans, objectives, goals, expectations, anticipations, assumptions, estimates, intentions, and future performance, and involve known and unknown risks, uncertainties and other factors, which may be beyond Metalico's control, and which may cause Metalico's actual results, performance or achievements to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. All statements other than statements of historical fact are statements that could be forward-looking statements. Metalico assumes no obligation to update the information contained in this news release.
Contact:
Contact:
Metalico, Inc.
Carlos E. Agüero
Michael J. Drury
Email Contact
186 North Avenue East
Cranford, NJ 07016
(908) 497-9610
FAX: (908) 497-1097
http://www.metalico.com
--------------------------------------------------------------------------------
Source: Metalico, Inc.
http://biz.yahoo.com/iw/080409/0385299.html?printer=1
3/28:Metalico Secures Private Placement, Increases Credit Facility
Friday March 28, 9:32 am ET
CRANFORD, NJ--(MARKET WIRE)--Mar 28, 2008 -- Metalico, Inc. (AMEX:MEA - News), a rapidly growing scrap metal recycler and lead fabricator, today announced it has entered into a definitive purchase agreement with institutional investors to raise $28,500,000 million of gross proceeds in a private placement of its common stock.
In connection with the private placement, Metalico will issue an aggregate of approximately 2,925,000 shares of common stock at a price per share of $9.75. Investors will also receive a total of approximately 1,170,000 warrants for shares of the company's stock at an exercise price of $12.65 per share with a term of six years.
The Company intends to use the net proceeds from the offering to reduce debt, to fund potential acquisitions, and for general corporate purposes.
The Company plans to close the private placement promptly, subject to customary closing conditions. The closing and funding of the private placement is not subject to the consummation of any contemplated acquisition or any other financing.
Metalico has also closed on a $15,000,000 increase in its revolving credit facility. The facility, provided by a syndicate led by Wells Fargo Foothill, Inc. and including J.P. Morgan Chase and Wachovia Bank, now provides for aggregate revolving and term availability of up to $100,000,000 and matures in May 2012.
"The proceeds from this equity offering will help position us to take advantage of opportunities in the marketplace and fuel our continued growth," said Carlos E. Agüero, Metalico's President and Chief Executive Officer.
The shares of common stock have not been registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration under the Securities Act and applicable state securities laws or an applicable exemption from those registration requirements. Metalico has agreed to file a registration statement with the United States Securities and Exchange Commission covering the shares sold in the offering no later than forty-five days after the closing, and to use commercially reasonable efforts to have the registration statement declared effective as soon as practicable thereafter. Following this transaction, Metalico will have approximately 35.4 million shares of common stock outstanding.
Canaccord Adams, Inc., acted as placement agent in connection with the placement.
This press release will not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.
Metalico, Inc. is a rapidly growing holding company with operations in two principal business segments: ferrous and non-ferrous scrap metal recycling, and fabrication of lead-based products. With its recent acquisitions, the Company operates fourteen recycling facilities in New York, Pennsylvania, Ohio, New Jersey, Texas, and Mississippi and five lead fabrication plants in Alabama, Illinois, Nevada, and California. Metalico's common stock is traded on the American Stock Exchange under the symbol MEA.
Forward-looking Statements
This news release also contains "forward-looking statements" made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements with respect to Metalico's beliefs, plans, objectives, goals, expectations, anticipations, assumptions, estimates, intentions, and future performance, and involve known and unknown risks, uncertainties and other factors, which may be beyond Metalico's control, and which may cause Metalico's actual results, performance or achievements to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. All statements other than statements of historical fact are statements that could be forward-looking statements. Metalico assumes no obligation to update the information contained in this news release.
Contact:
Contact:
Metalico, Inc.
Carlos E. Agüero
Michael J. Drury
Email Contact
186 North Avenue East
Cranford, NJ 07016
(908) 497-9610
FAX: (908) 497-1097
http://www.metalico.com
--------------------------------------------------------------------------------
Source: Metalico, Inc.
http://biz.yahoo.com/iw/080328/0381052.html?printer=1
Yep, that MEA is a LT hold for me although I have traded a couple positions along the way. Double from here? You just got your first membermark,lol...
Are you looking at BSOI?
GL2Y
An affiliate of Andus Inc., the majority shareholder, provides management and accounting services at no charge to the Company.
I wonder if anyone from Andus is ACTIVELY marketing this shell? Or are we the living doomed, eternally stuck on zombie autopilot?
Sitting here in limbo, waitng for the dice to roll- Jimmy Cliff
They still have bills to pay. While Andus has assumed their liabilities and provide free office space, they still have expenses (acct, lawyer, sec filings, taxes, etc,etc)While Andus has agreed to fund them, it is an "on the books" arrangement whereby they might someday get repaid...imo
From the last 10q:
The General Manager, Larry Martin, administers the corporate affairs of the Company and monitors residual business matters. During the period, the Company incurred expenses to Mr. Martin of $1,500 for these services. An office is maintained in Chanhassen, Minnesota, which is provided free of charge by Mr. Martin. An affiliate of Andus Inc., the majority shareholder, provides management and accounting services at no charge to the Company.
The Company has income tax losses of approximately $1,805,000 available for carry forwards, which may be used to reduce future years’ taxable income and for which the benefit has not been recorded. These losses expire between 2011 and 2022.
The Company has no means to generate revenue necessary to pay its obligations to regulatory bodies, directors, accountants and lawyers. In this regard, Andus Inc., the majority shareholder has committed to support the Company for its normal management and corporate expenses at levels of present expenditure until February 1, 2009.
Management continues to pursue other business opportunities for the Company including merger opportunities with other businesses which may result in a reverse-take-over of the Company. However, there is no guarantee that management will be successful in their endeavours.
http://yahoo.brand.edgar-online.com/displayfilinginfo.aspx?FilingID=5793798-851-22423&type=sect&dcn=0000897101-08-000585
When is payday? I have no clue. I did notice somebody nibbling up the .55's last week (not me!)
GL2Y
Thanks, di4... I did link back from the first one to CNN but it's still a few degrees removed from reality...peculiarer and peculiarer, though...gl
CNN??!! It's a blog entry from ireport! This is like Alice in Wonderland...
glta
Huge news here,imo...I love it when a shell comes together!
...even if I'm not in on it,lol...glta
MAM...Preliminary Findings of Maine Power Connection Feasibility Study
Thursday April 10, 1:36 pm ET
PRESQUE ISLE, ME--(MARKET WIRE)--Apr 10, 2008 -- Leaders of Maine Public Service Company (MPS), a subsidiary of Maine & Maritimes Corporation (AMEX:MAM - News), and Central Maine Power Company (CMP), a subsidiary of Energy East, today reported on the preliminary conclusions of the Maine Power Connection (MPC) feasibility study. The MPC study evaluates the feasibility of connecting the Maine Public Service system to the rest of the Maine and New England electric grid and to support development of substantial wind energy resources in northern Maine.....
...
The MPC feasibility study is divided into three phases:
-- Phase 1: Interconnect MPS territory to the New England electric grid
-- Phase 2: Interconnect MPS, plus 800 MW proposed wind projects
-- Phase 3: New northern Maine interconnect with eastern Canada
The study reached the following preliminary conclusions:
Phase 1:
-- 138 kV interconnection would be sufficient to connect existing MPS
system with the New England grid at estimated cost of $40 million
-- Not economically feasible if MPS ratepayers fund the project --
costs outweigh the potential economic benefits to MPS ratepayers
Phase 2:
-- MPS currently has transmission interconnection requests for more
than 800 MW of potential wind generation projects
-- New transmission capacity will support major wind development in
Aroostook County
-- Connecting MPS to the New England grid with a 345 kV transmission
line will support wind generation projects and be economically
feasible with the participation of ISO-NE and its member utilities
Phase 3:
-- A third Canadian interconnect merits further investigation
-- May provide access to additional renewable energy resources
CMP and MPS expect to complete the Phase 2 feasibility study by the Summer of 2008.
More information and a slide presentation outlining preliminary project participants are available on the Maine Power Connection website at www.mainepowerconnection.com.
About Maine Public Service Company:
Maine Public Service Company, a subsidiary of Maine & Maritimes Corporation (AMEX:MAM - News) is a regulated electric transmission and distribution utility serving approximately 36,000 electricity customer accounts in northern Maine. MAM is also the parent company of MAM Utility Services Group, an unregulated wholly-owned US subsidiary which focuses on such areas as transmission infrastructure to support wind generation, utility asset maintenance contracts, and other utility-related services. Corporate headquarters are located in Presque Isle, Maine, and the corporate website is www.maineandmaritimes.com.
http://biz.yahoo.com/iw/080410/0385692.html?printer=1
They were downloadable at one point a couple of years ago but it changed to comply with the band's digital policy. I think they were trying to protect the marketability of their vault releases.Never underestimate that paycheck power!
Audience vs. soundboard recording sources...the SBDs are stream only, the AUDs are downloadable. All the shows that I post are SBDs or matrix (this is a SBD with a layer of AUD added for kicks and giggles)