Reading about the Woozle effect....
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Best give up, iambadbert. I've already covered this ground without much traction. LOL.
To wit (or the lack thereof)
"The selection of Salberg & Company concludes a thorough selection process, which the company conducted as part of its effort to select an auditor with optimal skills that would match Corewafer's needs as a growth company."
They didn't actually say they'd hired Salberg & Co.
Sure you do if you put out a PR three days earlier that says the filings will be sent! How else will investors know?
FINRA fee for a Voluntary Symbol Request Change? $500
http://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=1&ved=0CCEQFjAA&url=http%3A%2F%2Fwww.sec.gov%2Frules%2Fsro%2Ffinra%2F2010%2F34-62434.pdf&ei=cY2RUP_jEuzAyQHD1YHYBQ&usg=AFQjCNGucyU8HWrWjf4PPxIJDUl2EZ6JsA page 9
It was such an investment of time and money that Gary didn't actually merge APII into Corewafer Industries until a month after the name change. Ha!
"While Knight Capital is curtailing activities at its New Jersey headquarters, the company is continuing to handle trades from the floor of the New York Stock Exchange. Knight is asking institutional equity sales, trading and market-making clients routing to its Jersey City systems to route their orders away."
Oct 31, 2012
http://www.foxbusiness.com/industries/2012/10/31/knight-capital-shuts-nj-trading-due-to-power-troubles/
I want to see any proof WAFR is NOT a scam.
No one can dispute the fact that the merger filing has not yet shown up in NY, nor can they offer any evidence that the filing has actually been made. If anyone has called NY DOS as I have, twice last week and yesterday, they aren't sayin'.
Just sayin'.
No one has offered any evidence that NEEL is operating, not even a line from the Q1 or Q2 balance sheets. Instead, NEEL is now dismissed as "it's pre-WAFR; it don't matter." The current CEO, Gary Polistena, acquired a non-functioning trucking company, and it doesn't matter? What does that predict for Core Wafer Systems?
Ah, well...onward.
No one has offered any explanation why or even registered surprise that WAFR, or rather APII Florida, owns another trucking company that Gary and Theresa have failed to mention at all.
No one has shown proof of any contracts. Oh, wait, wasn't there a PR about $120,000 in consulting fees?
Knock me over with a feather.
Claims of S-1 filing and uplifting this quarter have been made, but the Oct 1 PR indicates no such until 2013. Of course, PRs can't always be believed. Maybe something will happen in advance.
Yeah, like that's EVER happened before. LOL.
Astonishing, really, how much attention one sentence of mine has been given and how little attention all these other issues have failed to elicit.
And today or mañana or next week, IF the promised PR's materialize, there still won't be a verifiable FACT in sight, on the horizon, or out in space...and it still won't matter...
Or will it?
Read the merger agreement. APII Florida, which is now Corewafer Industries, has a subsidiary named Action Products International, registered in NY.
It is the subsidiary which merges with Core Wafer Systems.
The filing may have been submitted - the DOS representatives could not tell me that over the phone - but if so, it has neither been accepted nor rejected.
When the merger is complete, Action Products International in NY will become Inactive.
(And, Calrod, if you don't believe me, ask yourself this: Why does Gary Polistena have another Action Products International registered in NY? Also, why else would they PR about "filing in NY"? There is no Corewafer Industries registered in NY.)
"COREwafer believes that Salberg & Company will have adequate time to prepare audited financials for the two years ended December 31, 2012, during the first fiscal quarter of 2013."
From Oct 1 PR.
I don't see an S-1 on the horizon until Q2 2013, much less uplisting.
Sorry about the name mistake, trading.jeff. My bad.
As for
Since the desktop computer put into service as a server was in my house, allow me to answer that for you, TJG.
First, it was an HP box. It was placed on an upside down scrap of carpet on the floor. Carpet scrap and computer were pushed into the closet. It was plugged into an outlet just outside the closet, which was hot - y'all were right about that - and connected to the internets (plural intended - that's what all the kewl kids call it) by ethernet.
I'm glad y'all are amused and you're all correct - it was lame. An HP box put into service as a server to connect the half dozen or so developers of the "$50 million intellectual property" of the "profitable since 2001" CWS with a dying fan that was shoved - or if you prefer - slid into a closet to muffle the noise it made.
It was less amusing a year later.
Oh, my! I just figured out why NEEL was bought!
To promote the sale of shares and maybe boost the share price!!
(Insert face palm.)
NOW, I get it. It doesn't matter whether NEEL is "bringing positive cash flow into the company and improves our balance sheet" (Gary Polistena) nor does it matter whether NEEL (or NEX Global USA, APII's "other" trucking company) are even operating!
How could I be so dense?
The Agilent test equipment wouldn't, but the software, which is the CWS product, would fit in your glove compartment. Or in your pocket on a thumb drive.
Are you happy to see me or is that ASUR-SDR in your pocket?
(BTW, the copyright on that brochure is 2008!)
I am beginning to think that some investors simply do not understand what Core Wafer Systems sells.
It doesn't take a company truck to transport a CD and a software key, especially when the manufacturers are overseas.
Since the FMCSA report doesn't show a DBA name:
http://li-public.fmcsa.dot.gov/LIVIEW/pkg_carrquery.prc_carrlist?n_dotno=1754957&s_prefix=MC&n_docketno=&s_legalname=&s_dbaname=&s_state=
and since I have no idea what such a name would be and since it was Calrod who actually suggested that NEEL might be doing business under a different name, I see no reason why I should write to the DOT, even if I am the person who suggested that the DOT might be interested if were true that NEEL is operating under a different name.
I can't even imagine what the repercussions would be for simply asking a question of a government agency.
In the meantime, I notice that you do not indicate where in the Q2 any revenue from NEEL (or the mysterious NEX Global USA!) is revealed. Hmmm...
Nor do you address the issue of why NEX Global USA isn't even mentioned in the Q2. Hmmm...
Oh, and in case there's any question about the date of the above, this is a screen shot of the bottom of the same page:
"This we know is incorrect because the Q1 and Q2 showed profits from the trucking company that is "not operating" according to the DOT web site."
Are you sure? Suggest you read the Q's very carefully. I see no indications that NEEL brought in any money.
What I do see is this:
In a Jan 4, 2012 PR, Papa Bello Enterprises announced the acquisition of "Mama's Direct" and made these claims:
Okay, that's about what I determined from a web search. On what do you base any connection to Corewafer Industries - especially to a subsidiary trucking company, NEX Global USA, that is not active according to the DOT, not insured, and which is registered in Florida?
And why, if the NEX in NEX Global USA has anything to do with NEX, the Navy Exchange, did Gary neglect to tell shareholders in the Q2 about APII's or rather Corewafer Industries, other trucking company?
What do you mean by "the Navy exchange" and on what do you base that belief?
Why I am not an investor in the penny stocks, esp WAFR:
Aziz Ahmad was previously listed on the board in PRs and is now an "advisor" as is Ele Kauderer. Greg Miller of CWS is not listed, nor is the very mysterious Martin Jensen ("owner of a private equity firm. He also acts as a board member at the Danish American Chamber of Commerce and holds a senior--level position within a large telecommunications company.")
The General is listed, but curiously the General was NOT listed in the Nevada Initial list. Greg Miller is on the initial list; Aziz and Mr. Jensen are not.
Frankly, I can never tell if the information available means anything or is just sloppy.
It was never an attack on the merger. I want the merger to happen.
I did question reports that the merger was complete, as until this week, there has been no VERIFIABLE evidence that the merger was happening. (PRs do NOT count.)
And speaking of verification, I just called the DOS in NY and the merger has neither been accepted nor rejected. It is impossible to learn if it has, in fact, even been filed.
Until the merger is accepted in NY, the merger still is NOT effective according to the terms of the merger agreement.
It would appear WAFR has lost a few board members...hmmm...
https://www.dropbox.com/s/y2ki34yzc9dsnwy/2012_TEAR_SHEET_.pdf
They've also produced the most badly written document yet. LOL.
(Psst...I hope no one in the semiconductor industry sees this one - might be hard on their credibility.)
Why don't you PM me with specific information and I will look into it?
Go WAFR. Ha!
Nobody shorts these stocks!
Sheesh!
Congratulations, WAFR! You made the list!
http://www.pumpsanddumps.com/p/its-pump-dump.html
I am sorry, Phil. I must have misunderstood you. I thought you meant that you had confirmed the merger with the SOS offices of NV and NY when you said
My WAFR DD of the core wafer merger with APII NY came in last week with my conversations with both NY and NV SOS.
I guess you meant something else. My bad.
There are TWO APIIs, one is registered and active in NY; the other is registered in Florida and is now inactive/merged (with Corewafer industries, according to the documents available online from the Florida Secretary of State's website. The key is the first paragraph of the merger agreement:
THIS MERGER AGREEMENT (the "Agreement") is made and entered into on April 10, 2012, by and among ACTION PRODUCTS INTERNATIONAL. INC., a Florida corporation ("APII"), ACTION PRODUCTS INTERNATIONAL INC. a New York corporation, which is a wholly-owned subsidiary of APII ("Merger Corp."), and CORE WAFER SYSTEMS. INC., a Nevada corporation (the "Company").
It is not clear in the documents available to the public whether APII NY is, in fact, a subsidiary of APII/WAFR. It certainly is not claimed as such anywhere except the merger agreement.
Also called the SOS in Nevada. No merger docs submitted there.
"This week" is half over and there are no filings yet in NY and NV according to the nice ladies on the other end of the line.
You stated on Saturday that
APII isn't isn't actually buying Core Wafer Systems. They are doing what is called a reverse merger. Essentially, shareholders of WAFR are giving up some ownership in a worthless company to the shareholders of a private company that is claimed to hold value. According to the Merger Agreement, Corewafer Industries is not the entity merging; rather it is their "subsidiary" APII registered in NY. This is why there has to be a filing in NY as well as one in NV with Core Wafer Systems. Why we are waiting on these is anybody's guess; if they've done the merger they have what they need to do the filings.
It is curious that Corewafer Industries doesn't actually list APII as a subsidiary. Maybe Gary is still confused about all this. He did, after all, call APII NY "merger sub" in his cover letter to the merger agreement. There is NO merger sub mentioned in the agreement* - there is only "Merger Corp." which is defined in the first paragraph as APII NY, subsidiary to APII Florida, now COREwafer Industries. Are you confused yet? Maybe you're supposed to be, but Gary shouldn't be.
But then we are talking about a CEO who has TWICE dissolved the company, only to revoke the dissolutions. Most recently, he dissolved the parent company after signing the merger agreement. The first time he revoked the dissolution with the excuse,
HA! My dog ate my homework!!
Odd thing, PhilCheeze. I just called the New York SOS and the only information they could provide over the telephone regarding a merger was whether it had been accepted or rejected. In the case of Action Products International, there is no information either way.
I called the Division of Corporations at (518) 473-2492. May I ask whom you called in NY?
Oh, wait. Gary completely forgot to file when he merged Corewafer Industries and APII. At least, he's planning to send it this week...
The filing required by Nevada is all of SIX pages long, available here:
http://nvsos.gov/index.aspx?page=545#merger
Now, just how long does it take to fill out this form? I count about twenty blanks and half a dozen check marks. Gary couldn't fit it in last week?
fixin to get ready to...
When you say "accomplishments" are you referring to the merger, which "will be sent to the State of Nevada and the State of New York"?
Why not a PR that says: "Merger is completed and filed" and one could just confirm it online with the SOS's?
And I thought I could be coy...
Great news! The merger is done! Well, almost. The filings have still to be sent.
I knew APII was worthless; I was pretty sure CWS was, too. Merger just confirms it.
GLTA