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rosebud - My guess is that the ECN Holdings technology from Raphael's 7 years work is the most valuable asset of all and when it's wrapped into MCCY with Argo, we will have the OPPOSITE of dilution. JMHO kp
Dilution:
An increase in the number of shares of a company's stock, causing the value of each share to decrease.
If you trade 1 million shares of treasury stock, valued at $1, for something worth $1 million dollars, there is no dilution because the value of each share did not decrease.
You are claiming, without proof, that management has illegally been selling restricted shares into the market. Fits in with your other unfounded and unproven claims. If you think it's being diluted by management, don't buy.
kp
DWP - Wrong again! It's only dilution if something of value isn't received in return for giving up the additional shares. Pretty basic stuff but not suprising it may be over your head. kp
defireman - I know quite well how to read your questions and I have tried quite hard to see things from your point of view, but I can’t quite stick my head that far up my ass.
From the 9/13 legal opinion on the web site.
http://www.ecnholding.com/legal.pdf
Gavinz - You have hit on exactly the reason why the pps is where it is. The "consolidation" includes several entities that were not a part of MCCY on 6/22/07. All MCCY shareholders owned at that time were the assets of Effective Control Trucking LLC - We won't know the value of all of these new entities until verified numbers are released.
They now belong to the shareholders of MCCY. If there was significant value in GPS Global - ECN Canada - ECN Holding and Argo Navigation before they were folded into MCCY, then there is possibly no dilution - valuable assets received in return for the shares given up. The audited financials of these entities, plus the financials for the last 7 years of the shell (that MCCC is reversing into) take time to prepare, but its the only thing that will give us the third party verification and valuation we need.
I don't trust the OS numbers that you refer to for 6/22/07 as they were posted by a previous poster with questionable affiliations, but that's beside the point, because the real question is the value of all the entities covered by the new 123 million OS count. We have a pretty good idea about the value of Argo, but little about the rest of them. In my opinion, the current share price only reflects the value of Argo, because it is the only entity we have solid information on.
"You say there is no evidence of dilution. I'm just curious how the O/S goes from 30 million on 6/22/07: http://investorshub.advfn.com/boards/read_msg.asp?Message_id=20662668&txt2find=os to 113,576,800 (not counting an additional 10 million shares going to Argo,) 3 1/2 months later without dilution?"
9/14/07 MCCY press release:
"We would like to announce that in conjunction with The Financial
Industry Regulatory Authority (FINRA) attorney Alain B Houle has begun a
full review, verification and audit process of all business matters related
to Media City Corporation, GPS Global, ECN Canada, ECN Holding, Effective
Control trucking LLC, and Argo Navigation. This "legal opinion" will be
found on encholding's website and will be updated as information is added.
Mr. Alain Houle will also be taking this opportunity to consolidate all of
the above mentioned companies into MCCY except for the technology related
to the energy sector."
Thanks for your eloquent example on how one should apply intelligence and logic if one plans on having winning investment choices. A great read! kp
rosebud - You just said it. What the downplayers are "preaching" defies logic. End of argument!
Even poor Warren Buffet uses logic and instinct. kp
Fogg - I'm not familiar with that time period for Moblestream, but it sounds like there was an Initial Public Offering to which your relation subscribed. There is usually a period, prior to when shares begin trading on an exchange, when qualified people can subscribe to purchase shares.
Sorry I can't help you more, but it looks like you're looking in the right places. Good luck. kp
The agreement sent through was termed a subscription agreement outlining a subscription for 9474 new shares in Mobilestream Inc ie not owned by a third party but issued by the company itself. Isn't that what subscription means?
The Patriot Energy shell that they were going to place their "energy sector technology" into was cancelled.
http://www.ecnholding.com/legal.pdf
Guru - Let me see! I guess I only have two choices.
1) I can go to the MCCY web site, read it carefully and analyze their credibility, ethics, trust and corporate governance, or
2) I can go to an investment board and rely on the personal opinions of some negative people who post messages under anonymous names.
Tough decision, but my DD and my fate are my responsibility. kp
gavinz - Yes and no! The delay is that all of the companies being consolidated, including Argo, must each have their audited financials completed before the consolidation into MCCY can be filed with the SEC. The purchase terms have been agreed upon pending the completion of the paper work. kp
9/14/07 MCCY press release:
"We would like to announce that in conjunction with The Financial
Industry Regulatory Authority (FINRA) attorney Alain B Houle has begun a
full review, verification and audit process of all business matters related
to Media City Corporation, GPS Global, ECN Canada, ECN Holding, Effective
Control trucking LLC, and Argo Navigation. This "legal opinion" will be
found on encholding's website and will be updated as information is added.
Mr. Alain Houle will also be taking this opportunity to consolidate all of
the above mentioned companies into MCCY except for the technology related
to the energy sector."
You state that "Almost every single press release has a misleading statement or a statement that has not come true". If you had bothered to go to the web site, you would have found an update related to every item you list. They announced that once the new web site was launched, they would use it to keep everyone updated regarding their progress, rather than through press releases.
In case you don't know how to get there, here are the recent updates from the FAQ section. kp
Question: What is happening with Biocognisafe?
There is currently litigation between the two companies but this doesn't affect our operation and our ability to progress in the market.
Question: Which law firm is handling the Biocognisafe case?
Our firm is BCF Lawyers, Trademark and Patent Agents (www.bcf.ca) a major firm with more than 100 lawyers, in Montreal and Quebec city.
Biocognisafe are represented by Ogilvy Renaud.
Question : What is the share structure?
Float = 35 905 602
A/S = 150 Millions
O/S = 113,576,800 as of Sept 19th 2007
O/S after the acquisition of Argo Navigation = 123 576 800
Question: What are the short term plans concerning management ?
Effective Control Transport (ECT) is a young company that is growing at a very fast pace and for such reason ECT has started a process to strengthen senior management in the coming months.
Question: What is the relationship between ECT LLC and ECN holding beyond ECN being a major shareholder?
No relationship except for ECN being a major shareholder.
Question: Are there any other business relationships that require payments by ECT to ECN in the form of fees, royalties, service charges, etc in the form of cash or shares ?
The answer is no to all questions
Question: How many employees does ECT LLC current have?
MCCY or ECT has approximately 55 employees as of September 25, 07
Question: Will MCCY change its name to ECT and are you using the name ECT to be equal to MCCY, the actual public company?
The name change will occur shortly to Effective Control Transportation.
QUESTION: Does MCCY have any plans to join the Microsoft Gold Certification partnership program?
It's not on our plan right now to build a big IT department in MCCY. We want to position the company as the developper and commercialization organisation of our proprietary technology called FOLO.
QUESTION: Could you please provide further clarity on the progress of the 300K unit order for the first week of September?
Due to an unforeseen delay, delivery of shipments began last week. A substantial number of units have already been delivered to our distributors. The balance of the delivery is expected to be completed over the next few month.
Question: What became of the planned road shows for Montreal, New York & Toronto? Were they cancelled & if so will they be re-scheduled in the near future?
The road show had been scheduled by the previous IR firm used by MCCY. At this current juncture we have decided that other priorities are of greater importance. As our company is further organized and the most critical issues addressed, meetings with present and future shareholders will be scheduled in due course.
Question: Under the 'Clients and Distributors' page of the updated website, which ones of the companies on the 'Clients' list have signed actual contracts and which have signed LOI's at this time?
This information will not be release until the customer himself put something on their website to confirm the contract or LOI. We want to be completely transparent with our shareholder but we also believe it's not in our shareholder's interest to be totally transparent with our competitors!!
Question: I don't see actual FOLO systems or ECT products on these distributor websites. Will these distributors be distributing the FOLO system in the future? Will they be selling the FOLO system in its entirety or just parts of it?
At the moment, these distributors only sell our Argo Navigation products. Our various sales departments are now working in unison to present them the entire FOLO Solution. You can view the ArgoNav products at www.argonav.com. ArgoNav and ECT are now considered family, so if clients decide to opt for just ArgoNav's original GPS tracking solution rather than the complete FOLO Solution, they still purchase from us.
Question: does the audited financial depend only on you or is there any external elements that you don't control involved in the process?
This particular question is naturally a very common concern. Our part of the process is complete, but we currently await external data with regards to the old shell of Media City Corp. This shell has not filed with the SEC since 2001 and consolidating all relevant historical shell information has proven more time consuming than anticipated. We do not want to justify the delay but to be able to efficiently uplist the company, this process must be done correctly. Since the process is out of our hands, no set date can or will be provided to the shareholder until it is complete.
QUESTION : is your company planning to go to higher stock exchange like Nasdaq?
Yes, that is the plan in the near future.
2win - Get better? They are looking at doing 300
million in their first fiscal year as a public company and you want them to get better? WOW
"regarding the management I believe that they will get better."
Cee-it! The best way to defeat manipulators is with results.
Everything you have posted in the last few days indicates they are on their way "big time". Thanks! kp
Fogg - Do you have proof that Aston Rowe was an agent of Mobilestream Oil? Or did Aston simply agree to purchase shares at a discount through a block purchase agreement with the company (maybe 500,000++ shares), then resell the shares in the UK and elsewhere, supply the neccassary information for Olde Monmouth, have money wired to Mobilstream as payment against shares held in "escrow" per the block purchase agreement? Mobilestream then instructs Monmouth to transfer the certificates direct to your relatives with a restricted stamp on them. You do have real, not fake, certificates - Right? Just my humble speculation FWIW. kp
One does not have to be a licensed broker to resell shares they personally own to someone else. If Aston represented themselves as a licensed broker, and were not, and your relatives did not check - maybe "buyer beware" from a legal standpoint! Was the commission tacked onto the price your relation paid? KP
I cannot for the life of me understand how stock deals set up by "Aston Rowe of Dubai" [huh] result in payments direct to Mobilestream Oil and Gas Co of 7914 US 19 North, Port Richey FL, c/o a bank in Port Richey FL, account name "Mobilestream Inc" [different] resulting in the issue of stock certificates in the name of Mobilestream Oil Inc, a company incorporated in Delaware. There may be explanations for these inconsistencies but I cannot glean them.
I am looking at copies of 4 certificates:
1. 47,370 common stock in Mobilestream Oil Inc dated 2 June 06
2. 50,000 common stock in ditto dated 2 June 06
3. 25,000 common stock in ditto dated 2 June 06
4. 9,474 common stock in ditto dated 27 April 06
1. numbered OIL 01574
2. numbered OIL 01572
3. numbered OIL 01573
4. numbered MB 3242
Excuse me, but are these serial numbers a reality or a fiction?
1. 2. and 3. are signed by F. Pringle as secretary and president.
This is a substantial amount of stock issued direct from the company under its seal and no explanation offered about the role of "Aston Rowe of Dubai". Aston Rowe apparently took a commission of 1% according to an unsigned share purchase agreement of 10 February 2006 [ref the 9,474 purchase] bearing the name David Ridley, Vice President. No other share purchase agreement was received for the subsequent deals.
I would appreciate any comments about the validity of this stock.
My reply to FOGG on the GBRC board regarding the same subject.
kp
http://investorshub.advfn.com/boards/read_msg.asp?message_id=23421537
Fogg - The way it works here is that the company issues free traded shares (on whatever trading exchange) that can then be sold to retail customers by any "licensed" broker. All retail broker transactions are recorded through a Transfer Agent ( in this case - Olde Monmouth Stock Transfer Co) and the stock certificates are either distributed to the buyer, or held in "street name" by the broker (buyers choice). Hundreds of different brokers, foreign and domestic, may be involved in the selling of retail shares, but all shares must be recorded and distributed through Olde Monmouth Transfer. The company itself has nothing to do with the actual selling or recording of share transactions.
Shares sold by brokers outside the US are resticted (not free traded). A Broker's salespeople work on commission from the broker, not the company issuing the shares. If they mislead in order to get a sale, the local Broker regulatory agency has authority.
The Directors of Mobilestream voted last Jan to merge into GBRC and exchange all existing Mobilesteam shares for new shares of GBRC at a ratio of 1 GBRC share for every 7.143 shares of Mobilestream owned.
Mobilestream holders are still waiting for this to happen. Before an Sb2 could be filed with the SEC to register the shares for conversion, all the audited financials of GBRC, and the previous entities, had to be filed and approved by the SEC. All of that has supposedly been done now and Jeff Andrews (according to Dragon Man this am) has now stated that the Sb2 will be submitted in two weeks. http://investorshub.advfn.com/boards/read_msg.asp?message_id=23414233
Hope this is helpful. kp
From the SEC site:
"If you believe that you have been the victim of a securities-related fraud, through the Internet or otherwise, or if you believe that any person or entity may have violated or is currently violating the federal securities laws, you can submit a complaint using our online complaint form or email us at:"
enforcement@sec.gov
FOGG - I follow both boards. There was a suspicious instance reported earlier on this board where an investor had been contacted with an offer to buy their GBRC share if they paid a $15,000 up front fee to remove restrictions???? Can be found around post #510. The poster was a new poster and only posted a few times on this board. I checked the Houston web site and it appeared TO ME to likely be another scam by a infamous group of Nigerians from the Houston area. The web site was obviously a fake IMO. Dragon Man was going to report it at the time??? kp
FOGG - If you believe that you have been the victim of a securities-related fraud, through the Internet or otherwise, or if you believe that any person or entity may have violated or is currently violating the federal securities laws, you can submit a complaint using our online complaint form or email us at
enforcement@sec.gov
Thanks for the excellent DD. Looks like they've landed another really talented and experienced individual.
Go MCCY
DWP - I guess people just aren't listening to your "clues". No one should make investment decisions based upon anything that anyone on a message board has to say. kp
"I've explained in detail the clues for why VW hasn't signed a deal with Raphael"
Excellent DD. What was your source? kp
"Raphael and his team of website developers can't even spell Volkswagen much less sign a contract with them."
Neither Auditors or MCCY were in discussion here.
Dragon Man - There was no trading in MSRM today. Trading appears to have been closed out @ .18 in anticipation of the conversion? KP
Dragon Man - There was no trading in MSRM today. Trading appears to have been closed out @ .18 in anticipation of the conversion? KP
Redrabbit - It's my understanding that MCCY has alerted FINRA (or the SEC) and that it's under investigation. I hope so! KP
DWP - It appears to me that MCCY has gathered quite an impressive list of "consultants" advising them and who understand what they're selling and how they sold it to the current list of LOI's and contract customers. Truth DD - JMHO
"If it takes a consultant to figure out what MCCY sells I doubt they've done 1.4 billion in sales"
DWP - Considering the in depth discussions on this board regarding the FOLO technology and it's unique value to the Transportation and other industries, your discussions appear "illogical" to me. JMHO
"The only reason that there's only rumors about a FOLO product is that there's no information about it. No price, size, weight, color, pictures, specifications, independent reviews, etc.
Diabolic - My experience was from 1965 - 1991 and in the very heart of VC activity then. They had more good horses to pick from than they do today. kp
"Must also depends on the VC ability to pick up winners" :)
Fogg - The Company and Transfer Agent are reputable and independent from the Broker that sold it. You should have no problem getting your GBRC shares. I have a pile of Mobilestream shares and am confident they will convert - my only question is when.
Let me know if I can be of additional help.
Good luck to all of us. KP
83390309 - Thanks for all of your input. It is a little hard for me to follow your typing, but you seem to have a terrific grasp of the FOLO system, how it works and it's potential. Are you French, Chinese or ?? kp
Small-Cap Fortunes (a division of Capital Financial Media) has been compensated in the amount of $250,000 from Profit Ridge Investments LTD for coverage and advertising efforts of Planktos Corp.
PwAg - IMO this can be an absolute monster without CRAM - now that I understand how it works. Thanks to you and Cee-it for enlightening us this afternoon, Nice to have some worthwhile discussion on this board for a change. I may start reading it again. That said, someone will probably ask for a photo in the next 10 minutes....kp
"Once and if CRAM really catches on, this could be an absolute monster."
Cee-it - Please bear with me and let me have another try.
Would it be safe to say that FOLO is secure interactive software that can control any peice of equipment anywhere on the planet and store all of it's activity on a customer's existing database? kp
Thanks! So it's even better and more useful to more people than I thought it was. WOW! kp
Where does it record everything? kp
dragon man - I'm sorry for the non traders that got into this early and have lost money and trust. It's obvious they've created some enemies along the way, but what start up hasn't - it goes with the territory. Let me know what Jeff has to say tomorrow. Thanks kp
Cee-it - Would it be safe to say that FOLO is a "black box" that can control any peice of equipment anywhere on the planet while recording everything it does? kp