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How much time does the S.E.C. give these companies to either finalize their announced reversed splits, or to cancel them completely ? It looks like FLST can say whatever the want to in their filings, but very rarely does what they say they will do on time, or, maybe they can just continue to say or do "nothing at all" !!!! Their announced date of Dec. 23rd has come and gone, and their continued "silence" just goes on and on. Come on FLST, let's get this thing over with one way or another. Either put up or, "you know what you can do". Florida
This company is really amazing. Instead of press releases, their investors have to wait for their filings to be released in order to hear anything from them. Even then whatever they say you can't believe, such as dates they project, or any mailings that supposedly were going to be mailed out to the stockholders. Whatever they are scheming to get done behind the scenes, is always a "secret". It's reached the point where it seems like the most we can get for any of our shares is 0.0001, that is if we're lucky. They got involved with not one, but two toxic money lenders, and somehow managed to let this share price drop to rock bottom so they wouldn't have to pay them. What they also did, was to kill all their investors at the same time. Since their shares, thanks to management, are now worthless, it wouldn't bother me one bit if the S.E.C. stepped in and finished them off. At least then I wouldn't have to keep hoping for that miracle that never comes. In this case, shutting them down might be considered a mercy killing. Florida
The transfer agent is very honest and strait- forward. If our company had their good qualities, they wouldn't be in this mess right now. They answer shareholders promptly and only tell them the truth. Very good qualities that FLST seems to lack. Merry Christmas everybody. Florida
INTRODUCTION
This Information Statement is furnished to the stockholders of Fuelstream, Inc. a Delaware corporation (the “Company”), in connection with action taken by our board of directors and the holders of a majority in interest of our voting capital stock to approve a reverse split of our outstanding shares (“Reverse Split”). The foregoing action has been ratified by the written consent of the holders of a majority in interest of our voting capital stock, consisting of our outstanding common stock, outstanding Series A Preferred Stock, as well as our board of directors, by written consent on December 8, 2014. We anticipate that a copy of the Definitive Information Statement will be mailed to our shareholders as of the date it is filed definitive.
In effecting the Reverse Split, we are consolidating the number of our outstanding shares of common stock on a ratio of 1 share for every 2,000 shares issued and outstanding as of the record date set forth below. We will not issue fractional shares and will round each fractional share up to the nearest whole share. Additionally, we will also round up to 200 shares each shareholder whose holdings would otherwise be less than 200 shares following the Reverse Split.
The Reverse Split will be effected as of the date it is filed definitive, but, under federal securities laws, is not effective until at least 20 days after the mailing of this Information Statement. We anticipate that the effective date for the Reverse Split will be on or about December 23, 2014.
Are you guys 100% sure there will be a reverse split ???? According to their transfer agent they don't know anything about it. Here's the reply I just got back from them. Gayle Terry
To
me
Today at 1:07 PM
We have not heard anything about it from the company.
Gayle
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A short note I sent to their transfer agent this morning. About that reverse split with FLST
me
To
Gayle Terry
Today at 9:46 AM
Good morning Gayle. Do you have any news regarding their previously announced reverse split which they said would be announced by Dec. 23rd which is today. If it's finalized it will change their whole share structure a lot. Anything you can provide us with to get the up to date share numbers would be appreciated. Respectfully, Richard
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Marco, you can never really tell until you see what they announce. The pain can't get any worse as a bid of zero is rock bottom. Some brave soul picked up 10 mil. shares this morning. His $1,000 investment could be worth nothing, or, a whole lot. Florida
From their last filing on Dec.9th. It looks like we should be hearing something tomorrow which is what they said .That would be the 10th business day. Our wait may finally be over. It might help as we can't go any lower than this current bid of "zero". Florida INVESTOPEDIA EXPLAINS 'SEC Form PRE 14C'
Form PRE 14C is required under Section 14(c) of the Securities Exchange Act of 1934. This form must be filed with the SEC 10 days before definitive information statements are distributed to shareholders and helps the SEC protect shareholders' rights by ensuring that they receive key information, clearly presented.
We should be hearing something by the 23rd one way or another. Good or bad it's getting close. Florida
Anybody with level 2, has VNDM or VFIN been selling shares recently ? These are two of the biggest sellers for companies that have millions of shares to sell. Florida
Depending on what happens between now and next Tuesday, we'll either be getting Santa Clause with a gift, or we'll just get scrooged. Florida
This was their last filing. Does this mean that the reverse split will become official on 12/23/14 ?? That would be next Tuesday. This Information Statement is furnished to the stockholders of Fuelstream, Inc. a Delaware corporation (the “Company”), in connection with action taken by our board of directors and the holders of a majority in interest of our voting capital stock to approve a reverse split of our outstanding shares (“Reverse Split”). The foregoing action has been ratified by the written consent of the holders of a majority in interest of our voting capital stock, consisting of our outstanding common stock, outstanding Series A Preferred Stock, as well as our board of directors, by written consent on December 8, 2014. We anticipate that a copy of the Definitive Information Statement will be mailed to our shareholders as of the date it is filed definitive.
In effecting the Reverse Split, we are consolidating the number of our outstanding shares of common stock on a ratio of 1 share for every 2,000 shares issued and outstanding as of the record date set forth below. We will not issue fractional shares and will round each fractional share up to the nearest whole share. Additionally, we will also round up to 200 shares each shareholder whose holdings would otherwise be less than 200 shares following the Reverse Split.
The Reverse Split will be effected as of the date it is filed definitive, but, under federal securities laws, is not effective until at least 20 days after the mailing of this Information Statement. We anticipate that the effective date for the Reverse Split will be on or about December 23, 2014.
How many shares have been added here due to dilution. Hopefully not enough to cause a reverse split. Florida
There's no way the large shareholder in FLST will allow this stock to go to zero when the time comes for the reverse split. Once they get the word that this split is definitely approved, they can then say almost anything and it will have some sort of a movement upward. With a lot less shares this stock will be very volatile. It can move up or down very quickly on little volume. Right now all we can do is wait and watch. In their last release they mentioned this should be ready to go around Dec. 23rd. Maybe we'll be getting a Christmas present from them ? One never knows what might happen in these sub penny stocks. Florida
cheche is one of our moderators who was invested in this stock until recently, when he decided to get out now,and decide when things settle down a little whether or not to get back in it. He always was straightforward in all his posts and hopefully things work out well for him, as I'm sure they will. As for the rest of us who still own shares, "we shall see" ! Florida,
According to yesterdays filing, it should be done by Dec.23rd, and any small shareholders will have their shares rounded out to 200 shares. Better for the little guys than the big ones ?? Florida Reverse Split, we are consolidating the number of our outstanding shares of common stock on a ratio of 1 share for every 2,000 shares issued and outstanding as of the record date set forth below. We will not issue fractional shares and will round each fractional share up to the nearest whole share. Additionally, we will also round up to 200 shares each shareholder whose holdings would otherwise be less than 200 shares following the Reverse Split.
The Reverse Split will be effected as of the date it is filed definitive, but, under federal securities laws, is not effective until at least 20 days after the mailing of this Information Statement. We anticipate that the effective date for the Reverse Split will be on or about December 23, 2014.
I still can't see it Green. You could be right but maybe somebody more versed in crunching numbers can clear it up. Either way it's not very good. Florida
Green, .00005 x 500 shares = $ 0.025. Unless my math is off those are the numbers I come up with. Florida
If my math is correct, every 1 mil. shares anyone owns will become 500 shares after their 1 for 2000 reverse split is finalized. On that basis, if they were converted today at the current price of .00005, each 1 million shares currently held would be worth .0025 cents. These guys really did a great job of killing everyone who bought shares in the past 3 or 4 months. This is what can happen when these pinkies are not being restricted from doing whatever they want !!!! Disgraceful abuse of their shareholders on the part of the management. Florida
Good question Marco. Does anybody know the answer ? Florida
Can anybody show me a pinkie that only has 1 million authorized shares ???? Unless they double the authorized shares first, this will never happen. Florida
These numbers just don't make any sense. How can any company with an outstanding share total of 2.5 billion shares, reverse split by 1 for 2,000. That would leave them with an unbelievably low number of authorized shares, "only 1.25 million" ????? Sounds like a fairy tale to me my friend. Florida
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Good morning Kevin.
me
To
kblanco@thefuelstream.com
Dec 6 at 9:31 AM
I see that our bid is back to zero again. Whoever put in that buy order at 0.0001 for 50 mil. shares has been filled. With another week of meetings but still no news for investors, do you have any thoughts ? This has to be one of the most frustrating stocks in the market. Even the worst companies announce something once in a while. Rumors are flying around about billions more toxic shares floating around, and the company considering a reverse split if they can get one approved. Time for this complete silence to come to an end. Either we make it or this company shuts down. Waiting and constantly hearing absolutely nothing is very frustrating to everyone. You've already lost some of your larger investors on the board, with anything coming from your C.E.O. that could at least give people a little hope, we would attract some new buyers. When you first returned from your trip to Africa, you said you were working on getting the approval from your corporate counsel to release some news to the stockholders. Since then you've mentioned that you thought you would be able to say something pretty soon, but that hasn't happened yet. Three months later this stock is in the worst position it's ever been in. How and when will this company improve things for their future, if they have one ? Gag order or no gag order, somebody from FLST must tell us something ! Regards, Richard
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me
To
kblanco@thefuelstream.com
Dec 6 at 11:34 AM
Kev, I would appreciate it if you reply. Even just a "have a nice day" would be better than another non response. Rich
It looks like cheche was correct. This 0.0000 to 0.0002 range looks like it will stay unless the company says something. Florida
Sorry to see you go cheche, but you have to do what feels right to you. From yesterdays trading,it looks like you got out at the bottom. glty, Florida
Good to see a little buying at the ask. Just imagine what a way overdue p.r. would do to this share price. There's no telling just how high it could go ? Florida
Shane, you're probably 100% correct. The problem seems to be our C.E.O. who for some reason has decided that staying silent is the way he wants to go. So what if it only traded $2 worth of stock today !!!! Doesn't seem to bother him one bit does it ? I hope he doesn't wait too long to wake up !!!! Florida
Still trying to figure out why somebody would keep putting in his bid every day to buy some shares in FLST at 0.0001 ???? Either he's just trying to cover a short position, or, he expects some upward movement in this stock and he can flip these shares at some sort of a profit. He must really want these shares or else he could just let the bid go back to zero, and then buy up "some shares" at the .0001 ask when it reappears ???? Any thoughts guys ? Florida
Kevin is still with us and doing his best to help get this stock going. It's up to our C.E.O. to release "something". Florida
Are you still here Kevin ? (2)
me. Good morning my silent friend if you're still with us that is. Rumors have it that you might be gone, but until I hear that from you I won't believe it. Getting a bid back this morning is probably the
Today at 10:21 AM
kblanco@thefuelstream.com
To
me
Today at 11:12 AM
Good morning Rich, sorry I didn't respond until today. We have been working and trying to get things straight with the new CEO. I'm still here and always pushing our management to do what's best for us shareholders, it's tuff but I'm hanging in there, hopefully the CEO will put out news on the progress of the company. Thanks for checking in, I was out of town for the holidays and taking a brake from all the pressure, but I'm back.
Regards,
Kevin
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Are you still here Kevin ?
me
To
kblanco@thefuelstream.com
Today at 10:21 AM
Good morning my silent friend if you're still with us that is. Rumors have it that you might be gone, but until I hear that from you I won't believe it. Getting a bid back this morning is probably the most exciting thing that's happened here in the last 2 months. Whether it's just a temporary thing or really means something remains to be seen. Even if you don't want to say too much, I would appreciate the courtesy of knowing that you're still with us . What happened to the Kevin Blanco that answered his e-mails at one time ???? Respectfully. Florida
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cheche, maybe you should hold on to some of your shares for a couple of more days. With nobody wanting to buy a single share at 0.0001. we now have a buyer who wants 46 million shares ???? Why ???? Florida
Not only do we now have a bid back, but it's a pretty nice sized bid too. Something must be brewing behind the scenes, thus all the silence lately. Florida
Al no bid or ask on E-TRADE ???? Florida
It looks like we only have 1 seller at the 0.0001 price. Probably just somebody wanting out. The ask was at 0.0002 until the opening so this seller will most likely get filled this morning and the ask should go back to 0.0002 again. Florida. Florida
The volume on E-TRADE must be wrong. They're only showing a total of 3 million traded so far today. Florida
Thanks cheche. Then it's up to this company to find a way to get this stock trading again with a bid and an ask. If they can't or won't do that then they're finished. Maybe they can sell this company to some small private one that might find it easier and cheaper to get themselves listed ????? Stranger things have happened. Florida
Were all those trades that went through at 0.0001 free shares ?????? Florida
cheche, what I can't understand is, why would anybody buy billions of restricted shares in this stock and expect to make any money ? Unless they could pick up all these shares "free", why get involved in FLST unless they know something that the rest of us don't know. Nothing seems to make any sense with this company. Florida
Until recently I felt the same way about Kevin. However, it looks like they might have him under a gag order not to talk to any shareholders at this time. Even though my questions have gotten a little tougher for him to answer, with this stock at no bid almost every day lately, this company should step up on their own and update everybody as to where this company stands right now. If the C.E.O. has cut off all contact with shareholders at a time when we need him to be upfront with us, then he either really doesn't know how to run a company, or, things are much worse than they look, and as a result all we now get is silence. Without people wanting to invest in his stock, he won't have a company pretty soon, because no stock can survive unless you can get people to invest in it. His "I'll do it my way' approach just isn't working out. Who does he think he is "Frank Sinatra" ???? Florida
"One last try" !!!! me
To
kblanco@thefuelstream.com
Today at 9:56 AM
Maybe the last 2 e-mails were too tough for a response, or perhaps there's really nothing promising going on right now, but by not answering at all it feels like you just don't want to be bothered by the shareholders that in reality only have you the v.p. of sales who up to now at least was courteous enough to keep a contact open with this company. How does any company that has issued loads of toxic shares just continue to hide behind a wall of silence ? To not even attempt to try and keep your remaining stockholders up to date means that management here has a lot to learn about trying to run a company. Don't you guys feel any guilt at all by continuing to keep your investors in the dark by saying absolutely nothing???? Maybe they now have you silenced too, as your not answering anyone lately leaves those of us still in this stock stuck out here in "no mans land". Add the lack of any real buying to this mix and it certainly feels like we picked a real loser. Regards, Rich
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