Reading about the Woozle effect....
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WAFR...moving forward....in a downward spiral
This week same as next week;
next week same as last week.
I assume the "the folks looking to cover" could also buy 5m shares from the float, too, eh?
That'll leave a 2m float.
Woo-Hoo!!! Get out da rubber duckies!
"It would also be wreckless on the part of management"
Wreckless? LOL
Must be the influence of the trucking company...
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Thanks.
Again, if you don't sell the shares, you don't get the funding when your funding is reserve equity funding.
OTC stocks use shares for funding...WAFR has not and will not, since they have funding in place... short term $5,000,000 long term $10,000,000
Uh...
On October 26, 2012 COREwafer Industries, Inc. (the “Company”), entered into a Reg A reserve equity financing agreement (the “Agreement”) with AGS Capital Group, Inc. (the “Investor”) whereby the company shall issue and sell to the Investor, from time to time, and the Investor shall purchase from the Company up to Five Million Dollars ($5,000,000) of the Company’s common stock (the “Shares”).
But if CWS wasn't profitable (Sales of $195,000 ytd?) in 90% of the production facilities in da world, how will being in just 1/10th of the them be so great?
WAFR is in a sector that has billions of dollars in contracts yearly
Core Wafer Systems HAD 800 active licenses. Now they have 118+ customers. What happened to the other 682 contracts?
http://www.prnewswire.com/news-releases/core-wafer-systems-adding-millions-more-in-contracts-with-upgrade-to-pdq-wlr-product-line-137954638.html
if they capture just 1/10 of a percent of that business
According to this, Core Wafer already had 90% of that business:
The company is now present in over 90% of the fabrication facilities around the globe as a result of its solidified strengthened position with Agilent and their test equipment. In addition, CWS has never failed to turn a profit over the last eleven years.
When it comes to pink stocks, the answer is "Elementary, my dear Watson!"
When a PR states a "fact" and a later PR or financial report clearly contradicts that same "fact," then one or 'tother (or both) was a lie.
WAFR now tells a different story than APII told in January. Did CWS lie to APII? If so, why did WAFR (alledgedly) proceed with the merger? Did APII get better intel and the new figures and projections can now be trusted to be true?
Or did APII know that assertions they made in PRs earlier in the year were not true, and if that is the case, how can you possibly trust anything they claim now?
I was told last week WAFR has 118 existing customers
What happened to the other 682 "active licenses"?
We have over 800 active licenses of PDQ-WLR
The problem is how do we know when APII was lying and when WAFR is telling the truth.
With this funding in place, COREWafer Industries will delegate monies to Core Wafer Systems in order to execute against their near-term business plan with (1) a focus on the silicon testing industry and associated product lines placing focus on:
(2) · Lease of additional hardware testing units to expand the testing footprint of their software in order to widen the customer base;
(3)· PDQ-WARP – Prioritize customer requests into work queue for development in Q4 2012 and Q1 2013;
(4) · PDQ-WLR 7 - Re–engage critical resources necessary to complete the final stage in development and testing of the upcoming release;
(5)· ASUR-SDR – Introduce enhancement requests from prospective Fortune 1000 semiconductor manufacturers;
(6)· Increase sales staff and pre-sales consulting efforts targeting close to 80% of deals where budgetary quotes were issued in 2012;
(1) a focus on the silicon testing industry
Core Wafer has two major business units: Semiconductor and Nanotechnology and Magnetics Test Systems and solutions. Both divisions offer software for extracting, analyzing and interpreting the test data they conduct for their customers.
In 2009, Core Wafer Systems, Inc. and SEMATECH announced that they had partnered to develop Deep Submicron Reliability Test Solutions for next-generation semiconductor technologies. In the 24 months since this original announcement, CWS has been deeply involved with the Front End Processes (FEP) program and has completed development of WARp...PDQ-WARp will start shipping in June 22, 2012.
CWS is pleased to offer version 7.0 of PDQ-WLR, the on-wafer accelerated reliability product designed specifically for Agilent Technologies Parametric Testers. . .The new release PDQ-WLR 7.0 can be purchased as a drop-in, or a separate product, backwards-compatible upgrade for earlier versions of PDQ-WLR running in HP-UX, or those running under CWS` ASUR SDR. . .As for PDQ-WLR, customers can begin scheduling their upgrades through our services sales channels and our sales managers starting in April.
The Company has over 800 active licenses
employees paid in full
How? Supposedly Core Wafer Systems has 10-15 employees and ytd sales of $195,000.
$195,000 divided by 15...uh...that's "take away 2, carry the 1"...uh, oh, right.
Calculator says: $13,000 each. Wow, those are some well paid employees.
Or is CWS borrowing half a mill to pay their employees?
Or do they have 10-15 employees?
And what does this do to the whole "profitable since...yada, yada" story?
Its there if you look for it
Hey, way to refute:
Fixed assets, according to the Annual report for 2011, included this entry for 2011 and 2010:
Furniture, Fixtures, Computer equipment and purchased software - $792,372.
The same line item was changed on the Q1 to $2,591,242 , which it remains on the Q2 and Q3.
That's a difference of $1,798,870!
Nearly a $2 million change in the financial statements made with no explanation or comment??! Seriously? Was it lost? Did they find it somewhere?
Furthermore, what furniture, fixtures, computer equipment, and purchased software does APII/WAFR own and where is it now? Remember, this is APII/WAFR's stuff, NOT Core Wafer Systems stuff.
WAFR also lists land, buildings and improvements totaling $1,125,434 in the Q's, but seeing as how APII/WAFR only has a virtual office in NY and NEEL appears to be inoperative, where is this land and building? What is the address? Can a shareholder look it up on Google? Or check the property records in the county of whatever state it it in? Or is the land imaginary, too?
And where is the $2,591,242 worth of "stuff"?
why there is an obvious explination where that $2,000,000
Uh-huh. So obvious. How could I have missed it?
I find it fascinating that I am repeatedly told on this board that I know nothing, yet virtually no one ever responds with a sharing of information that can be verified.
And since the pps is 2 cents and the volume last Friday was ZERO, I think I'm going to stick with my conclusion that I'm right. And that others - who aren't buying this POS - agree.
the PPS will soon be making new yearly highs !
So, if my math skills hold and I understand this prediction, here's a sample chart. DISCLAIMER: This is only for illustration purposes; no one should make investment decisions based on my charts.
But this IS the prediction:
Of course, if by "yearly highs" you mean NEXT YEAR, than anything above .02 will do. WOOT! WOOT!
Here's a curious little detail from APII/WAFR's filings:
Fixed assets, according to the Annual report for 2011, included this entry for 2011 and 2010:
Furniture, Fixtures, Computer equipment and purchased software - $792,372.
The same line item was changed on the Q1 to $2,591,242 , which it remains on the Q2 and Q3.
That's a difference of $1,798,870!
Nearly a $2 million change in the financial statements made with no explanation or comment??! Seriously? Was it lost? Did they find it somewhere?
Furthermore, what furniture, fixtures, computer equipment, and purchased software does APII/WAFR own and where is it now? Remember, this is APII/WAFR's stuff, NOT Core Wafer Systems stuff.
WAFR also lists land, buildings and improvements totaling $1,125,434 in the Q's, but seeing as how APII/WAFR only has a virtual office in NY and NEEL appears to be inoperative, where is this land and building? What is the address? Can a shareholder look it up on Google? Or check the property records in the county of whatever state it it in? Or is the land imaginary, too?
And where is the $2,591,242 worth of "stuff"?
I called FINRA back when this board was awaiting the WAFR name and symbol. (That's the kind of DD I do.)
The guy I spoke to didn't impress me much, and I really couldn't get much information out of him. My impression was that FINRA approval is a hoop - one that makes it look as though the market has watch dogs - but it's really just something to jump through. The fee for a name change is $500, so it sounded like a pretty good racket for FINRA.
Especially when the Chinese were doing all those reverse mergers and name changes a few years ago....of one particular company, FINRA itself said,
"The company referenced above went by five different names and trading symbols in five years, with none of the previous names even remotely suggesting an affiliation with China."
Gosh. Since it's already December, I read that as they'd received $195,000 and might collect as much as $230,000 in total by the end of the year.
I guess that means that they've collected $195,000, which is plenty to pay their 15 employees for the year, and the $230,000 is, as you say, in addition to the $195,000.
Are they getting that work done this year or next? Will they be collecting the cash this year or next? And is that for product they have or for the product they still need to finish?
From the "Discussion and Analysis:"
Year to date sales are approximately $195,000 with current sales orders in excess of $230,000.
And if they, FINRA, ok'ed it then you know it would mean the company is on the up and up
Would I? I mean, really? Because I recall that it was a full month AFTER the name and symbol change before Gary actually merged APII (this is the "real" one in Florida) with COREwafer Industries.
Of course, before he could do that, Gary (or, according to filing, the board of directors) had to first revoke the dissolution that was "authorized by the shareholders" in March of this year. See below.
I am really not convinced that FINRA is doing a whole lot more than collecting the $500 filing fee. If, as you say, "they do check the important things," you'd think they would have checked the filings of the corporation involved.
http://www.sunbiz.org/scripts/ConvertTifToPdf.exe
$400,000 / 118 = $3,389 per customer yearly service agreement
The "Discussion and Analysis" stated
Year to date sales are approximately $195,000 with current sales orders in excess of $230,000.
Only if you can get FINRA to approve your name change first!
LOL
This is Teresa's "other":
http://www.profitplannersmgt.com/florida.html
Note that the address is the same as the principal address for Action Products in Florida:
http://www.sunbiz.org/scripts/cordet.exe?action=DETFIL&inq_doc_number=F13942&inq_came_from=NAMFWD&cor_web_names_seq_number=0001&names_name_ind=&names_cor_number=&names_name_seq=&names_name_ind=&names_comp_name=ACTIONPRODUCTSINTERNATIONAL&names_filing_type=
Does this include the people working in Roger's accounting office in Minnesota?
If sales year-to-date are $195,000, how exactly are they paying these 10-15 employees? In shares?
This is from the 2011 Annual Report:
On February 15, 2011, the company began acquisition of North East Expedite Logistics LLC., a Delaware limited liability corporation. The acquisition was completed on December 29, 2011.
"How many times did we tell people that NEEL was not a "for hire" entity? Their logistics was for the WAFR customers only!"
Really? Why does the Q3 state:
Logistics & Transportation: Northeast Expedite Logistics, LLC (“NEEL”) is a provider of global logistics services, which includes a domestic service center and exclusive and non-exclusive agents. The Company’s customers include retail and wholesale, electronics, and manufacturing companies around the world. With industrial production increasing year-over-year, the shortage of qualified drivers and trusted shipping partners is apparent in mid-markets for local deliveries. As the economy improves, orders for delivery and logistics increase. We provide foundational shipping and coordination services between suppliers and destination businesses and warehouses, and we operate efficiently through cloud based tracking.
The company will be utilizing a portion of the $10M in secured financing to increase the operating capacity of NEEL. Each additional truck we add to the company increases the revenue by $25,000 monthly. We have a projection of adding ten (10) additional trucks this year, resulting in an increase of revenue by approximately $250,000 monthly, or $9 million over the following 36 months.
I'm still wondering about NEX Global USA. This is a link to the Florida registration:
http://www.sunbiz.org/scripts/cordet.exe?action=DETFIL&inq_doc_number=L12000007890&inq_came_from=OFFFWD&cor_web_names_seq_number=0001&names_name_ind=P&ret_names_cor_number=&ret_cor_web_names_seq_number=&ret_names_name_ind=&ret_names_comp_name=&ret_names_filing_type=&ret_cor_web_princ_seq=&ret_princ_comp_name=POLISTENAGARY&ret_princ_type=
Notice that Gary, Teresa, and Action Products International (would that be Florida or New York???) are all listed as MGRM or "Manager Member."
"A managing member of an LLC is an individual who holds an ownership interest in the company, participates in its day-to day management and has authority to contract on behalf of the company."
http://info.legalzoom.com/definition-llc-managing-member-4298.html
So, Gary, Teresa and APII (which one?) all hold some ownership and are managers, but who holds how much ownership? And if as, has been claimed on this board, NEEL is dba NEW Global USA, how much of a cut do each of the owners get and how did the owners come to hold any ownership in the first place?
And why is it that the ONLY reason NEX Global USA is even part of the discussion is because I found it and brought it up? WAFR has NEVER mentioned this other trucking company. Why not? Do they not want shareholders to know?
"API NY a wholly owned subsidiary is not a functioning part of WAFR it was formed a while back because the company was going to move its full operation to NY. This plan was scrubbed because of the higher taxes and Nevada is much more business friendly."
If this is true then why didn't these idiots know this before they wrote the merger agreement? Furthermore, why did they say they were going to file in NY, then say they had filed in NY, and most importantly, why did they put copies of documents on OTCMarkets this week, which include a "Certificate of Merger" for Action Products International and Core Wafer Systems and a screenshot of the USPS tracking for supposedly mailing that document to the NY DOS?
This APII/WAFR crew is a bunch of idiots and liars, who just keep compounding the lies, but not the interest because there are NO revenues to earn interest on and judging from the market response today, no interest in WAFR shares either.
IMO.
"the merger was explained nicely as well!" I bet.
Sheesh.
"...reached the corporate offices of action products international."
Seriously? They got a new name and symbol 6 months ago and they haven't changed the message on the answering machine?
LOL
Whoa! Yous guys are still here?
Well, #1 should be MDT:
We have begun ongoing consulting services with MDT worth up to $120,000 in 2012
I don't know that there is any revenue explicitly stated for NEEL or NEX Global USA, which btw no one here would even be talking about if I hadn't found it in the Florida SOS records. (NEX Global USA isn't even mentioned in the latest "Discussion and Analysis.")
The Q3 stated that WAFR's sales was mostly from the sale of shares. CWS sales, according to the "Discussion" posted this week, are less than $200K ytd. But nothing about NEEL other than vague references to customers it may or may not have.
Oh, and evidence that it isn't authorized by the DOT.
LOCATION available for RENT!
http://www.loopnet.com/Listing/17582532/2087-Route-130-Monmouth-Junction-NJ/
2087 ROUTE 130 SOUTH
MONMOUTH JUNCTION, NJ 08852
is the address on FMCSA records, as well as at "Quick Transport"
FMSCA: http://safer.fmcsa.dot.gov/query.asp?searchtype=ANY&query_type=queryCarrierSnapshot&query_param=MC_MX&query_string=642362&Go.x=13&Go.y=8
QUICK TRANSPORT:
http://www.quicktransportsolutions.com/truckingcompany/newjersey/n-e-expedite-logistics-inc-usdot-2055972.php
Even Bloomberg says NEEL is in MONMOUTH JUNCTION:
http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=145028013
Of course, they also say that NEEL is a sub of Action Products International, so what do they know?
If NEEL is not operating from this location, where is it operating from? Who do we call to schedule a delivery?
Maybe Gary should publish another "Discussion" - yeah, that will help!
I suppose not. Though it might look like it was worth SOMETHING if there was even one contract...
Don't tell me, "contracts are coming."
Right. Any day...er...week....er...month.....er.....year......er......decade....
(You know, WAFR this week compared to WAFR before this week's "disclosures" reminds me of the wicked witch's demise in the Wizard of Oz: "I'm melting! melting! Oh, what a world! What a world!")
Yeah, "How about that 10 million in net assets?"
Who says the assets are worth 10 million? Have they been appraised?
Why, COREwafer Industries website says the "patent pending intellectual property valued in excess of $50M" - what happened to the other $40 million? Did they lose it? Forget where they left it? Maybe overvalued it a bit???
I have an idea. How 'bout we put the IP on ebay and see what anyone is willing to pay? Who knows? Maybe Seagate or Western Digital will put in a bid.
LOL.
"later tonight we will see what is in store for tomorrow!"
Calrod, I apologize for the long answer to follow. It is short and sweet to say it doesn't matter, etc. but understanding how this works requires more words.
First, there are TWO mergers in play:
1) Action Products International (Florida) + COREwafer Industries
2) Action Products International (New York) + Core Wafer Systems
There were TWO Action Products International, one in Florida and the subsidiary in New York.
Action Products International or APII was registered in Florida prior to the name and symbol change.
Then, somewhat before the name and symbol change, Gary and Co. created COREwafer Industries in Nevada.
A month after the name and symbol change Gary merged Action Products International, registered in Florida, into COREwafer Industries, registered in Nevada. (This probably should have been done at the same time, but that's another issue.)
That merger is documented at both ends, in Nevada under COREwafer Industries as a "Merge In" and in Florida under Action Products International, which is now INACTIVE/MERGED. Documents filed in Florida are available for download online (unlike documents filed in Nevada and New York), so any one who wants can download the filing and confirm that Action Products International in Florida merged into CoreWafer Industries, the surviving corporation.
So, WAFR, formerly APII, is now registered in Nevada. In the merger agreement, APII/WAFR stated that Action Products International in New York is a subsidiary, that it would merge with Core Wafer Systems, and that it would then cease to exist, which in corporate registration speak is "inactive."
I have found no information available from any source not connected to WAFR that confirms that the Action Products International registered in NY is, in fact, a subsidiary. However, WAFR claims it as a subsidiary, so let's assume that part at least is true.
On Monday, WAFR produced a copy of the Certificate of Merger they claim to have mailed on Oct 22, 2012 to Albany. That document says Core Wafer Systems is merging with Action Products International in New York. The filing, that is, the ACCEPTANCE of that document by the NY DOS, is exactly what the merger agreement says has to happen. Simply mailing it, if they did, is NOT sufficient. Once accepted, Action Products International will show "INACTIVE Merged Out."
This is an example of how that would look on the NY DOS website. Check the "Current Entity Status" just above the "Selected Entity Address Information." The point here is that merged companies don't just "fade away."
http://appext9.dos.ny.gov/corp_public/CORPSEARCH.ENTITY_INFORMATION?p_nameid=2094566&p_corpid=2038237&p_entity_name=great%20american%20awning&p_name_type=%25&p_search_type=BEGINS&p_srch_results_page=0
By phone, the NY DOS says there have been no filings made with respect to Action Products International. No merger, either accepted or rejected. Furthermore, they say that it would show on the website as "INACTIVE Merged Out," just like the example above. I'm inclined to believe them. That is the answer to your question, "Why they are still showing up on the NY SOS?"
As for this question:
Can a business that changed it's name still operate under the old registered name in NY?
Its in the hands of new york apparently.
Not quite sure why it matters to keep bringing it up.
Hey, WAFR, you gonna "update" your website http://www.apii.com/subs.html now that you've got a "more accurate" valuation of Core Wafer Systems?
CWS is the reliability solution for manufacturers using Agilent testers (Agilent has 95% market share) and has been profitable since 2001. Recognized, unique industry solution with patent pending intellectual property valued in excess of $50M that brings future-proofing to the reliability marketplace