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And do I further understand correctly that these two shareholders and former officers of the shell continue to own shares as follows:
Roderick C. Macutay(3)
#78 N. Cuevas St.
Calawaan Sur
Pasig City
Philippines 12,500,000 20.83 %
Tina Suava(4)
B3 L11 Kristina Homes Brgy
Sta Cruz
Antipolo City, Rizal
Philippines 12,500,000 20.83 %
(3) On June 8, 2010, Mr. Macutay resigned as President and Treasurer of the Company. Mr. Macutay continued to serve as a member of the Company’s Board of Directors until his resignation on September 15, 2010 as a condition to the closing of the Exchange Agreement.
(4) Ms. Suava resigned as our Secretary and Director on June 8, 2010.
Imagine how wonderful for them that they are now worth $25 million each. It's a miracle.
Do I understand correctly that the owners of the shell prior to the reverse merger continued to own 75% after the merger?
from the most recent 8-K/A... "Issuance of Common Stock. At the closing of the Exchange Transaction (the “Closing”), the Company issued a total of 15,000,000 shares of its common stock to the sole stockholder of FCPG HK (the “FCPG HK Stockholder”) in exchange for 100% of the issued and outstanding capital stock of FCPG HK. Immediately prior to the Exchange Transaction, the Company had 45,000,000 shares of common stock issued and outstanding. Immediately after the Exchange Transaction, the Company had 60,000,000 shares of common stock issued and outstanding."
Steve Talley
from cached Supatcha web page:
"This is Google's cache of http://www.supatcharesources.com/team.htm. It is a snapshot of the page as it appeared on Nov 29, 2010 01:27:02 GMT. The current page could have changed in the meantime. "
Steve Talley
President, CEO and Director
Mr. Steve Talley has over 30 years of entrepreneurial, business management and market initialization experience. He is adept at guiding emerging start-up companies through the stages of capital formation, strategic planning and business growth; specializing in venture capital financing. Mr. Talley’s diversified background includes senior management, real estate marketing, and sales positions with both established and start-up companies. Mr. Talley served in the United States Navy Anti Submarine Warfare.
I cannot find a filing which lays out the terms of this Melco financing or an 8k with the original financing agreement. Nowhere is it stated what the conversion terms are. That is some critical information.
And who the heck is this Melco Investments, Ltd?
On April 7, 2010, the Company announced the execution of an agreement with Melco Investments, Ltd. (“MIL”), providing for a $10,000,000 financing. This financing is in the form of a convertible debenture with terms stipulating an interest rate of 8% and a loan repayment term of 24 months from the date of execution of the agreement, by way of cash or through the conversion of shares of the Company’s stock. The repayment terms of the financing are amenable to the Company’s property development schedule and to future financings plans to retire the debt.
The securities potentially offered to the investor, under the terms of the financing, will not be registered under the Securities Act of 1933 as amended (the "Act"), and may not be offered or sold in the United States absent of registration, or an applicable exemption from registration, under the Act
As of August 31, 2010, $5,000,000 of the proceeds have been received the Company.
The link you provided shows the record date for the stock dividend is November 12. I think that means you must have bought by November 9 to be on record by the 12th. So if you bought today you don't get the 5 new shares. Unless there is a due bill attached I guess, but I've never really understood due bills.
Seems to me the share price ought to be 1/6 of what it was on November 9, or about 5 cents.
Also not sure why on earth TOPZ would split the stock 6:1 like this when price was only $0.30 or so.
Is the amount of money paid for the paid advertisement disclosed in the flyer?
Before you get too optimistic, have you noticed the tens of millions of shares sold to insiders at ten cents this year?
Have you noticed how the number of shares has doubled in the last year with nary an increase in assets?
Have you noticed how the market cap has grown five or ten fold in that time span?
Personally, I don't consider this a legitimate business or stock. Way too much self-promotion and cheap shares.
The Yahoo message board has plenty of discussion from both opinion camps.
A few choice excerpts:
After Ukragro cleared the SEC, the shell company changed its name in September to Windsor Park Forex Inc. before it was acquired in January by Ron Ruskowsky, who became president and controlling shareholder. He changed the company's name again, to Amarok Resources Inc., relocated it to California and refocused its business to prospecting for gold in Nevada and elsewhere. It still hasn't reported revenue and has yet to strike gold but has announced raising $2 million in private stock placements.
Its stock has gone from pennies a share to as high as $2.75 a share, giving the company a market value of nearly $200 million. It currently trades at about $1.30 a share on the OTC Bulletin Board under the symbol AMOK.
Mr. Ruskowsky said he had nothing to do with the company's previous management. He said that in order to bring to market what he views as a promising gold-mining prospect, he purchased the Ukragro shell, which is permissible, without really looking into its past. Since Ukragro had passed through the SEC, Mr. Ruskowsky said he assumed "it should be clean."
In February, the company announced that it had acquired an interest in a Nevada gold-mining claim via a middleman from a Canadian company run by Mr. Ruskowsky's father. In a Canadian securities filing, the father's company said it had held the claim since 1989 and "has not yet been able to identify any known body of commercial grade mineralization."
'Buy' Call
Earlier this year, a publication called Intelligent Investor Report issued a "buy" recommendation on Amarok, saying the company had "proven gold deposits" and predicting the stock price "could soon be flying past $15 a share!" A small-type disclaimer said the report was a "paid advertising issue" financed with $335,000 spent by an Amarok shareholder. The report's editor and publisher, Jarret Wollstein, said his piece didn't say that any gold deposits were at commercial-grade levels.
Mr. Ruskowsky said he had nothing to do with that report and never heard of the shareholder who supposedly financed it. While he said he is hopeful of eventually finding commercial quantities of gold, the company hasn't yet but is currently drilling on the Nevada project.
Big Wall St Journal article about this stock today.
http://online.wsj.com/article/SB10001424052748704638504575318681417658388.html?KEYWORDS=amarok#articleTabs%3Dcomments
By JOHN R. EMSHWILLER And KARA SCANNELL
On Jan. 6, 2009, Ukragro Corp. of Zhitomir, Ukraine, made an initial filing with the Securities and Exchange Commission to sell stock to the public. Its sole employee and owner was a 79-year-old massage therapist.
The company had no revenue, $100 in assets and planned to open a string of health spas. Public records on file at the SEC show that the agency asked no questions and the application cleared through the commission eight days later.
Over the past two years, eight other start-ups reviewed by the SEC have been similarly headed by people in Ukraine or Russia, with no revenue or operations and minimal assets. Business plans ranged from renting bicycles in Kiev to selling cars in Siberia. All used the same small Seattle law firm, Dean Law Corp., to help with their initial SEC filings. The SEC cleared them to sell stock, in most cases without asking a single question, according to the public records at the agency
...... more at link above.
That is the worst investment advice I have ever heard.
"He who lives in the past will never succeed so I look at past but trade in the present and hope for better days"
How about, "He who doesn't learn from his mistakes is doomed to repeat them."
My error, let me re-phrase. The company is selling millions of shares at $0.10 so how can shares be worth $0.50.?
Oh, they're not anymore, that was Wednesday. Now they are selling at $0.40. Maybe closer to $0.10 by the end of next week.
In my mind, the value of the shares is the price at which the company sells its own shares. Who better to know the value than the company itself?
But they keep selling millions of shares at $0.05 per share, so how could it be worth $0.50 per share?
The Norwegian Nobel Committee has decided that the Nobel Peace Prize for 2005 is to be shared, in two equal parts, between the International Atomic Energy Agency (IAEA) and its Director General, Mohamed ElBaradei, for their efforts to prevent nuclear energy from being used for military purposes and to ensure that nuclear energy for peaceful purposes is used in the safest possible way.
I guess she worked at IAEA. Wonder how many other people can claim they won it?
I can't find any references via a google search to a shared Nobel Peace Prize for Dr. Wenrich. Is this really a fact? How many people shared it?
That is very nice that you posted those financial statements so cleanly. Could you please tell me how that was done, if you find the time?
thanks, Peter
Plus another one billion shares in convertible preferred.
This thing was over-valued at .02 and I'm not short. Just outraged by BioMedReports.com
And is Biomedreports.com on the take? Does their report disclose this dilution?
It's getting out of hand.
POSC has a fully diluted share count of over 1.3 BILLION. 100,000 preferred shares can be converted for 10,000 common each.
So, a company with $1million in assets, maybe $2million in sales, and a market cap of $350 million.
Are you guys nuts?
Searching on that number, 48,494,666
SNPY.ob As of August 31, 2009 there were 48,494,666 shares of our common stock outstanding: Read more: http://www.faqs.org/sec-filings/091215/SINO-PAYMENTS-INC_10-K/#ixzz0ju6IpWai
I don't see the 20/140 million. I see the 12/84 million.
Why was 12 million not correct at September 30?
edit: Oh i get it - they seem to have not added the 8 million issued into the count. And that 48 million is very weird and sloppy indeed. Nice catch.
I don't think SEC takes kindly to misinformation in the filings. It's one thing to pump and dump, it's another to include falsehoods in goverment filings.
who knew?
From Jan 14 10K - "The number of shares of common stock outstanding as of January 11, 2010, was 12,100,000."
And from April 1 10K - "On January 20, 2010, the Company effected a 7-for-1 forward stock split of its issued and outstanding common stock." and - "As of March 30, 2010, there were 84,700,000 shares of the registrant’s $.001 par value common stock issued and outstanding"
Here are disclosures in 8k's since the January 14 10K:
On January 27, 2010, the Board of Directors of Bloggerwave Inc. (the "Company") approved, effective immediately, a change in the Company's fiscal year end from September 30th to December 31st.
On January 28, 2010, the Registrant announced that it had received its new symbol, and that its common stock was now trading under the symbol BLGW.OB.
On February 2, 2010, the Registrant announced that it has relocated its corporate headquarters to Mountainview, CA.
On February 9, 2010, the Registrant announced the appointment of Peter Hewitt to its newly created Advisory Board.
On February 11, 2010, the Registrant announced the appointment of Louis Yeromelou to its newly created Advisory Board.
I didn't go through the subsequent 8k's but it's clear that the 7:1 split just slipped their little Danish minds. Blondes!
Promoters would not pay $400,000 or whatever, and repeat it, if they did not work. They don't have to convince everyone, just a teeny minority of the 200,000 or however many copies they send out can make a big difference.
Is the mailer the same as this one from February?
http://siliconinvestor.advfn.com/readmsg.aspx?msgid=26401646
Is the amount in the disclaimer the same?
There's a physical mailer out as well, delivered by the USPS.
I'm not familiar with ENCO particularly, but I do trade every day these momo stocks.
Lately there has been a mania for low float, low priced stocks. Any excuse will do. Chat rooms get together and together they produce a run-up.
A whole bunch of stocks have gone up crazily just lately - ABIO, VIFL, SCKT, OBCI, et al. I believe it's mainly the daytrader chatrooms making it happen. I've seen it in the past as well.
Do you guys have any theories as to why ENCO is up so much today? I'm new to the stock - can't find news or the yahoo message board.
Thanks
Just after reading about it the mailman delivered one to my door. Complete with the disk. Haven't looked at it much yet.
What is a tabalog?
Are you guys trying to pump this thing? Or just excited the stock is up?
Other than the talk of shorts, which I tend to ignore, is there a specific reason for NNVC's recent rise? I'm not seeing news or filings other than a shelf registration.
Is there anything happening on a fundamental level?
So, approximately how much cobra venom is in one dose of Cobroxin?
I believe it's 4X on the homeopathic scale, so that would be 1/(10^4) or 1/10,000 cobra venom, if I calculate correctly.
A military contract for a homeopathic 'remedy'? Now that would be something!
How many shares are outstaning on BLGW? Every place I look shows a different number.
What is the deal with Monk's Den and the CDIV board? Is that where a big group of people all agree to push a stock up together? I read something about that on this board several weeks ago but didn't pay enough attention.
A new way to manipulate stocks I guess.
I knew that was going to happen.
Psychic charged with investor fraud.
CDIV board getting more posts than JBII ever did, I think. New pumporoomoompha.
http://investorshub.advfn.com/boards/board.aspx?board_id=12076
That is poetic, I love it.
"many will tell you I am a paid basher which is about as likely as me riding my unicorn with my Perfect wife on the back) reality is none of those 3 mythical beasts actual exist"
My take? It's a pump and dump. One of hundreds.