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"Friendly financing"... at this level? "Friendly" to whom? Pretty sure there is no such thing.
Many probably have been since it's right there in the year end fins that he raised just as much from the company debt last year as he did from the 504's
It sounded like to me (when I was not nodding off) that this whole financing thing is still some time off, if it happens at all. Maybe he eluded to a time frame but I must have dozed off when he said it.
Who knows given "possibilities", "in due course", "immeninent" and "soon" are favorite words that mean nothing to the listener/reader but seem to have some significance to the company.
GLTA
The company has lots of words to use about "shareholder value" and have always said that is their primary concern. If that is their priority...where is the proof of that? It's not showing in the PPS, for 3 years now. I think the definition of "value" is open to interpretation depending on which side of the office door you are on.IMO
Incredible. So the blah, blah blogs aren't generating enough interest so they are going to use this method? If I have trouble sleeping..this would work better than my cd with sounds of the ocean!
I continue to be amused by how often the company tells everyone just how risky an investment is in this company yet they always seem to belittle anyone who doesn't see the "possibilities". IMO The warnings are responsible but all anyone has to do is look at the history...there are enough warning signs.
Quote directly from the company about the chill...just for reference.
we understand it to be technical issue.
I have no doubt the company realizes just how bad things are. Your assessment of their obvious choices are correct. IMO. The people in the company will be just fine. Shateholders outside the company....chart/fins say it all.
GLTA
Full blog post -
01
Shareholder Question: Ace & True Value
Categories:
* Shareholder Correspondence
by Eric Lehner
QUESTION
* Nice jump in Do it Best stores. I wonder why Kansas stores are the leaders? Btw, quick question now that do it best stores are coming on quickly, what needs to be done to get in the true value or ace stores? Now that you have a successful campaign with these stores, it should be relatively easy, no?
ANSWER
The leading stores within any banner will change, as others come on board. Previously, the leading DIB store was in Ohio. At the moment, the top two are in Kansas. Even these good performers have a long way to go before they can be considered maxing out the potential of such outlets. These particular stores are not at a bottle per day yet – whereas some other banner stores are even higher than that. Realistically, we will do very nicely if the typical hardware/paint store sells even 2 bottles per week. That rate would make a Do it Best banner by itself approximately $1.8 million per year at the wholesale level. What we are seeking is that the performance of better stores within a group becomes the standard for others in the banner to emulate. That’s hard to achieve because in any group of individuals, there is always a range of performance. Over time we can create “systematic” conditions in the stores which foster desired outcomes. That could include use of counter displays, participation in a direct householder mail program, etc.
As far as Ace and True Value are concerned, and what needs to be done – we are now in a few independent outlets of both banners. The goal is to ensure that these stores do well with the product so that they can speak authentically about their own success. The national product managers of these banners will become increasingly aware of 1000+ through such internal channels, trade advertising, competitive monitoring and our own product presentations of course. All these factors eventually help make the case to them, as professional buyers, that the banner should offer the their own independent members access to 1000+ via the banner’s distribution centers. Until that point, we have to supply those stores directly, or through another distributor. Both Ace and True Value are similar in store count, with approximately 4,400 members each.
I personally would never use the word “easy” to describe the listing process with a national retail organization today. However, it is less arduous if a success is developing for you elsewhere in the industry. I hope I am accurate in saying that the retailers who are dealing with us now in the U.S. are enjoying the experience. That’s what they are telling us, anyway.
Householder mail program
Good evening sweetheart! Hope you have had a good day. I wish the company would have released a number along with this quote...
The two most productive stores are currently in Kansas.
Ignore all noise (pumping, bashing, news is coming crapola) and get your profits every chance you can on any penny stock.
My guess Eric wants the company to be successful on his terms. I am hoping that his intelligence triumphant's ego..... That is his biggest obstacle in life. The more he realizes this the chance for this company to grow brightly increases.
Don't all shareholders investing in penny stocks know that the only means most of these companies have to financing their ideas/products is pure and simple dilution
This company's CEO took a pay cut.
IMO only a big GSA contract can revive this company stock and make its shareholders some money...everything else seems like its on the back burner. To this point, even if this product is accepted by another big chain, I think it will make no difference to the stock price.
Yes..if he can pull off financing that doesn't involve any toxic details... there is a chance. The devil is always in the details.
How quickly he can do it is now a major issue as you can see. Financial institutions don't seem to really care about any urgency when we need a loan but paying it back is a whole different ballgame. lol
By the tone of the latest blog about the financing..I would say he clearly understands the urgency.
GLTA
NOthing about this company is SCAM
WNBD has put out only 4 Press Release in the last 174 days.
but Dennis...none of this financial reality stuff matters because the product is awesome!! Didn't you know that? lol
This has been coming for some time.
GLTA
Once again a blog answer that says nothing except... "it will all be done for your benefit"(paraphrasing) as the PPS trades at .0002. That seems to be a common theme for quite a few years now..."all for the good of the shareholder". The results just don't show how any of this has been for the "good" of the shareholder...for years.
It is refreshing to read that others are beginning to see.
I knew they would get it done today. :)
Maybe they can get one really big credit card and pay off all of their existing debt and then one day in the future when it's not a "start up" any more (which apparently being 6 years old is still a start up so no clue when that would be) then maybe they will have the knowledge that it does no good to put product on shelves when no one knows about it. Then they can R/S and start over right? It won't be so bad, right?
Then again, if the terms of this credit card aren't so severe it kills the company then there is great hope!
Meanwhile it's trading at .0002-.0003, dilution continues to drag it toward the depths and the company that so touted how lucky shareholders were to get in at .002 is bailing water out of the boat.
No...this am's dumpage is just plain ole' "we don't really care about the pps" dumpage. Pretty clear. Wonder what they sold these shares for?
The news I was referring to this am that is imminent and coming soon is the 1st quarter numbers and if they found any financing. Two weeks and counting! Let us all pray the numbers are good and they get financing that doesn't require an RS.
GL
You act as if you know how long a "good" financing deal takes. As if he is flipping through the yellow pages right now weeding out all of the "toxic" financing companies trying to find just the right one! We've been diluting for a very long time and a sense of urgency toward shareholder value would recognize that something needs to be done yesterday. Also, if financing were in place, a higher share price would have provided more money with less dilution!
You said "Given the circumstances and his strong will to cut a financing deal that will not compromise shareholder value" - you don't think that shareholder value has already been compromised to just about the bottom?
I see it too. Looks like they have about 1/2 of that up for sale at .0004. Doing their thing. Good some are making some money on this...unfortunately not the right ones. IMO
Gotta run...have a great Monday!
Typical. I have come to love patterns with this stock (as with all other pennies). It allows for great predictability and allows traders to provide some liquidity. Without them and the almost constant 504 recently, this stock wouldn't trade at all. IMO
I don't think they have had a late filing before. Could be wrong. I am sure it will be out today.
Ugly morning. News is imminent and will be out soon.
GLTA
Absolutely no mercy. 2's on the bid... good luck.
The company "values" the shareholders...they are the ones keeping this thing afloat!
Let's see... Attorney Letter is due by today. First quarter numbers due in about 2 weeks. The company's "90 days" projected for "financing" is closing in fast. First blogged about in February...
On the subject of refinancing, we are confident that we have identified advisors whose track record, ability to understand our objectives and proven contacts are of sufficient quality to proceed with preparation of a formal proposal to appropriate candidates that are already known. Over the next 90 days there will be a great deal of work going on to complete this.
12/31/2011 Annual Report - 3/30/2012
Attorney Letter - 4/29/2012
I am sure someone wrote them!
The company sure does love to write about testimonials! Everyone realizes WC is good. Who really wants to read a blog full of "testimonials" about the product? Typically "investors" or potential investors would prefer to read more about the state of the company not post after post of "oh, I love WC". IMO Anyone ever heard the saying "less is more"?
Have a great weekend!
Another bloggggggg.......
27
“We are impressed with the product…”
Categories:
* Testimonials
by Eric Lehner
Another unsolicited store testimonial today, this time from Florida. If we have Fort Myers area shareholders looking for a store to purchase their 1000+ Stain Remover from, here’s a store with initiative that would be a pleasure to buy from.
We are a Do it Best Co-Op member. Do it Best Corp recently added the 1000+ stain remover in the 30 OZ and 4 OZ sizes to their warehouses through your national accounts program. We buy out of Do it Best warehouse of both sizes and have been impressed with the product. We request we be listed in your web site’s store locator link. Thank you, Family Hardware Do it Express, 622 SE 47th Terrace, Cape Coral, FL 33904
Yep...many retail stores with the potential to sell it. No doubt about that. BIG job.... absolutely!! Must be why the company chose a woman huh!?!
Not really. I prefer to see concrete proof of things but let us not forget... the "possibilities" are endless as far as what your new Ohio rep can do for ya'll!!
Good luck with that!
Smooches!
Yes, the company doesn't make the final decision but the fact this has lingered for 3 years...tells me a great deal.
I don't mind you disagreeing honey. You do it respectfully (at least in public) and that works for me! As a shareholder, I do believe you are entitled to know many things. That is my perception and I know many don't agree.
LMAO!!! Yeah..I have heard that for what 3 years now?
LOL! Just doesn't make sense. How long have they been doing "demos" in Ohio? A year or two now? I am all for trying new things to help promote your product but they have been here done this. Apparently it didn't do much before. lol
BTW... testimonials are not impressive in the blog. Everyone knows WC works well on things many other products don't. Testimonials from shareholders are adding up but it sure looks good!
Good Lord... how much is she being compensated? Is she a shareholder like others who have been doing these demos? Does she get to go and visit the CEO's home too? Is it commission based?
As a shareholder...you have a right to know the details of things like this. Given the company has been very clear about the desperate need for money...is this the best way to spend what they do have?
Has there ever been any real discussion about what/if the "ambassadors" in other countries have made for the company vs the expense of having them there? Oh wait... the "possibility" is priceless right?
Taki...got your buys in for .0002?
If this stock is such a bargain.....why aren't they all buying?! I mean really! With the chart, latest fins and desperately needing financing...its a real bargain! I can tell by all of the volume (minus dilution) buyers are lined up! lol
I have great disdain for speaking about this supposed financing in order to excite shareholders until there is a PR saying it is done. As far as everything else the company said.....blah, blah, blah.... If/when the financing comes thru...then there will be a future to talk about.
Completely agree sweetheart.