To the Moon
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So when do I get to become an assistant?
Well its not too late. Im telling you its headed over a dollar. So far I have been accurate on every pick I put out to your room. All the picks I have posted in the room have done well.
I hope you atleast stuck a toe in!!!
FLMG now .81 ;)
MDXX .25x .32 +25% Float is only 5.6million this could run fast and hard on the right momentum
FLMG now .76x .78 once we clear through the .80 range it will swiftly move to a buck IMO. Great entry at these levels. I have been posting since .72 when I first began buying. Hope someone is listening.
FLMG Quarterly report from the 22nd of April
FLEET MANAGEMENT SOLUTIONS INC.
(Formerly: Silverton Mining Corp.)
CONSOLIDATED FINANCIAL STATEMENTS
(unaudited – prepared by management)
December 31, 2009
(Expressed in US Dollars)FLEET MANAGEMENT SOLUTIONS INC.
NOTICE OF NO AUDITOR REVIEW OF CONSOLIDATED INTERIM FINANCIAL ST A TEMENTS
The accompanying unaudited consolidated interim financial statements of Fleet Management Solutions Inc. (the “Company”) have been prepared by and are the responsibility of the Company’s management. No review has been performed by an independent auditor for these financial statements.
March 3, 2010
Fleet Management Solutions Inc.
(formerly Silverton Mining Corp.) Consolidated Balance Sheets (Expressed in US Dollars) (unaudited - prepared by management)
Assets
Current Assets Cash Accounts receivable Recoverable taxes Inventory
Total Current Assets
Fixed Assets Equipment, net of accumulated
depreciation of $49,461
Other Assets Deposits Others, net
Total Other Assets
Total Assets
Liabilities and stockholders' deficit
Current Liabilities Accounts payable Payroll taxes Short-term notes Due to related party Deposits from customers
Total current liabilities and total liabilities
Stockholders' deficit
Preferred stock, $0.001 par value Authorized 10,000,000 shares Issued and outstanding, 142,500 respectively
Common stock, $0.001 par value Authorized 200,000,000 shares Issued and outstanding, 31,305,767 and 253,136 shares respectively Additional paid-in capital Other accumulative comprehensive income (loss) Accumulated deficit
Total stockholders' deficit Minority interest
Total liabilities and stockholders' deficit
The accompanying notes are an integral part of the financial statements
1
Dec 31, 2009
435,244 794,916 327,555
2,496,706
4,054,421
541,791
2,793,604 6,121
2,799,725
June 30, 2009
$
$
- - - -
-
-
- -
-
-
7,395,937 $$
$
$
2,930,618 82,860 3,428,186 282,705 784,614
7,508,983
143
31,306 4,169,819 (16,750) (4,422,030) (235,362) 122,316
7,395,937
$
632,263 - 30,247 304,205 -
966,715
143
253 3,539,004 - (4,506,115) (966,715) -
$-
Fleet Management Solutions Inc.
(formerly Silverton Mining Corp.) Consolidated Statements of Operations (Expressed in US Dollars) (unaudited - prepared by management)
Revenue Cost of sales
Gross profit
Expenses General and administrative
T otal operating expenses Net profit for the period Loss on discontinued operations
Other comprehensive income (loss) Foreign exchange gain (loss)
Comprehensive income (loss) T otal profit for the period
Attributable to: Equity shareholders of the Company Minority interests
T otal profit for the period
Net profit (loss) per common share - Basic and diluted
Weighted average number of common shares outstanding
For the 3 months ended Dec 31,
For the 6 months ended Dec 31,
From Inception (Jan 7, 1987)
The accompanying notes are an integral part of the financial statements
2
2009
$ 2,300,136 1,949,437
2008
2009
2,363,703 1,986,185
377,518
278,953
278,953 98,565 -
(16,750)
(16,750) 81,815
67,335 14,480
81,815
0.00
16,815,407
2008
$
$
$
350,699
253,875
253,875 96,824 -
(16,750)
(16,750) 80,074
65,901 14,173
80,074
0.00
31,352,506
$
$
$
$
- -
-
-
- - -
-
- -
- -
-
$
$
$
$
$
$
$
$
- $ -
-
-
- - -
-
- - $
- -
- $
0.00
253,136
0.00
253,136
to
Dec 31, 2009
2,363,703 1,986,185
377,518
278,953
278,953 98,565 (4,506,115)
(16,750)
(16,750) (4,424,300)
(4,438,780) 14,480
(4,424,300)
Fleet Management Solutions Inc.
(formerly Silverton Mining Corp.) Statements of Stockholders' Equity (Deficiency) (Expressed in US Dollars) (unaudited - prepared by management)
Preferred Stock Common Stock, $0.00001 Par value $0.00001 Par value
Additional Paid-In Capital
3,539,004
51,947
559,518 450 900 18,000
4,169,819
Accumulated Deficit
(4,506,115)
67,335
(4,438,780)
Total Stockholders' Equity (Deficiency)
(966,715)
63,000
579,518 500 1,000 20,000 67,335
(235,362)
Shares Amount Shares
Amount
253
11,053
20,000 50 100 2,000
33,456
Bal, June 30, 2009 Shares exchange for takeover 25-Sep-09 11,052,631 Shares exchange
$
$
142,500 $ 143 253,136
for takeover 25-Sep-09 20,000,000 Shares for debt. Dec 30, 2009 Shares for debt. Dec 30, 2009 Shares for debt. Dec 30, 2009 Net profit for the period
Bal, Dec 31 2009
142,500 $
143 33,455,767
The accompanying notes are an integral part of the financial statements
3
50,000 100,000 2,000,000
Fleet Management Solutions Inc.
(formerly Silverton Mining Corp.) Consolidated Statements of Cash Flows (Expressed in US Dollars) (unaudited - prepared by management)
Cash Flows (Used In) Provided By : Operating Activities
Net Profit Adjustments to reconcile net loss to net cash used in operating activities: Amortization and depreciation
Foreign exchange gain (loss) Changes in operating assets and liabilities
For the six months ended Dec 31,
From Inception (Jan 7, 1987)
Accounts receivable Recoverable taxes Inventory (2,496,706) Deposits (2,793,604)
Accounts payable Payroll taxes Short-term notes Due to related party Deposits from customers
Net cash used by continuing operating activities
Net cash provided (used) by discontinued operating activities
Net cash provided (used) by operating activities
Investing Activities
Acquisition of equipment
Net cash used in investing activities
Financing Activities
Net cash acquired from parent Proceeds from private placement Proceeds from loans payable Proceeds from warrant conversion Proceeds from shares
Minority interest
Net cash provided by financing activities
Increase/(decrease) in cash Cash, beginning
Cash, ending
Supplemental disclosure of cash flow information: Interest paid Income tax paid
$
$ $
2,298,355 82,860 3,397,939 (21,500) 784,614
206,873
-
206,873
(557,963)
(557,963)
642,518 - - - 21,500 122,316
786,334
435,244 -
435,244
- -
- -
$- $-
The accompanying notes are an integral part of the financial statements
4
$
$
$
$ $
- $
- -
- - - - - - - - -
-
-
-
-
-
- - - - - -
-
- -
- $
2009
84,085
10,051 (16,750)
2008
(794,916) (327,555)
to
Dec 31, 2009
84,085
10,051 (16,750)
(794,916)
(327,555) (2,496,706) (2,793,604)
2,930,618 82,860 3,732,391 (21,500) 784,614
1,173,588
(4,506,115)
(3,332,527)
(557,963)
(557,963)
642,518 90,000 157,540 166,666 3,146,694 122,316
4,325,734
435,244 -
435,244
Fleet Management Solutions Inc.
(formerly Silverton Mining Corp.) Notes to Financial Statements December 31, 2009 (Expressed in US Dollars)
Note 1 - Organization and Business Operations
Fleet Management Solutions Inc. (the “Company”) was incorporated in the State of Florida on January 7, 1987 under the name of Progressive General Corporation, which name was changed to Crys*Tel Telecommunications.com,Inc. on December 18, 1998 and then to Juma Technology, Inc. on April 13, 2006. On July 6, 2006 the company changed its name to Silverton Mining Corp. and finally to Fleet Management Solutions Inc. on December 15, 2008.
The company was previously involved in the voice over IP telecommunications business. The company was successful in creating a voice network throughout the United States and Canada. Unfortunately, due to increased competition from large multinational telephone companies such as AT&T and Bell, the company was unable to provide its services at a profit and subsequently business was retired. The company proceeded to get involved in the natural resource sector without any success in being able to acquire a resource property of merit. Over the course of the last six months the company has looked to the automobile “fleet solutions” marketplace as has found success in the acquisition of a 51% interest in the existing and profitable business of FMS, SA based in Greece.
On September 25, 2009 the company acquired 51% of the outstanding shares of FMS, SA, a company incorporated and legally existing under the laws of Greece. FMS, SA is a company that provides all after sales management needs for companies that provide Automotive Leasing solutions, which has been in operation for several years and is currently in operation. The company issued 20,000,000 Common Shares to FMS, SA effecting a change in control of the company.
The company is to provide a full spectrum of automobile fleet solutions, all over the Country of Greece as well as the Balkans area. The company is covering all the after sales management needs of the companies that provide Automotive Leasing solutions. The Company’s extended experience in the automobile business allows for the maintaining of a privileged position versus the competition, facilitating the opportunity to provide not only first class services, but also reduced cost solutions.
Note 2 - Summary of Significant Accounting Policies
a) Basis of Presentation
These financial statements and related notes are presented in accordance with accounting principles generally accepted in the United States, and are expressed in US dollars. The Company’s fiscal year end is June 30.
5
b) Principles of Consolidation
The December 31, 2009 consolidated financial statements have been accounted for as a reverse takeover between the Company and FMS, SA, a Greek Company incorporated in June 2008, effective September 26, 2009. FMS, SA being the acquirer and the Company being the acquiree since FMS, SA owns 64% of the issued and outstanding shares of the Company. These consolidated financial statements reflect an 18% minority interest FMS, SA does not own. All intercompany accounts and transactions have been eliminated in the consolidation.
c) Use of Estimates
The preparation of these financial statements in conformity with US generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The Company regularly evaluates estimates and assumptions related to stock-based compensation and deferred income tax valuations. The Company bases its estimates and assumptions on current facts, historical experience and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. The actual results experienced by the Company may differ materially and adversely from the Company’s estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected.
d) Basic and Diluted Net Income (Loss) Per Share
The Company computes net income (loss) per share in accordance with SFAS No. 128, "Earnings per Share". SFAS No. 128 requires presentation of both basic and diluted earnings per share (EPS) on the face of the income statement. Basic EPS is computed by dividing net income (loss) available to common shareholders (numerator) by the weighted average number of shares outstanding (denominator) during the period. Diluted EPS gives effect to all dilutive potential common shares outstanding during the period using the treasury stock method and convertible securities using the if- converted method. In computing diluted EPS, the average stock price for the period is used in determining the number of shares assumed to be purchased from the exercise of stock options or warrants. Diluted EPS excludes all dilutive potential shares if their effect is anti dilutive.
e) Comprehensive Loss
SFAS No. 130, “Reporting Comprehensive Income,” establishes standards for the reporting and display of comprehensive loss and its components in the financial statements. For the years ended June 30, 2009 and 2008, the Company has no items that represent a comprehensive loss and, therefore, has not included a schedule of comprehensive loss in the financial statements.
f) Cash and Cash Equivalents
The Company considers all highly liquid instruments with maturity of three months or less at the time of issuance to be cash equivalents.
6
g) Financial Instruments
SFAS No. 157, “Fair Value Measurements”, requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. SFAS No. 157 establishes a fair value hierarchy based on the level of independent, objective evidence surrounding the inputs used to measure fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement.
SFAS No. 157 prioritizes the inputs into three levels that may be used to measure fair value: Level 1
Level 1 applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities.
Level 2
Level 2 applies to assets or liabilities for which there are inputs other than quoted prices that are observable for the asset or liability such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical assets or liabilities in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data.
Level 3
Level 3 applies to assets or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities.
The Company’s financial instruments consist principally of cash, accounts payable and accrued liabilities, and due to related party. Pursuant to SFAS No. 157, the fair value of our cash equivalents is determined based on “Level 1” inputs, which consist of quoted prices in active markets for identical assets. The Company believes that the recorded values of all of the other financial instruments approximate their current fair values because of their nature and respective maturity dates or durations.
h) Inventory
Inventory is recorded in the financial statements at the appropriate historical cost and any changes related to foreign currency adjustments are shown separately on the results of operations.
i) Fixed Assets
Fixed assets as listed in the Balance Sheet net of accumulated depreciation and are recorded at cost. The straight-line method of depreciation is used for depreciating assets and is calculated at the end of the year.
j) Depreciation
Depreciation of its fixed assets is calculated using the straight-line method over the estimated useful lives of the assets, ranging from five to fifteen years. Routine maintenance and leasehold improvements (the amounts of which are not material) are charged to operations as incurred.
7
k) Income Taxes
Potential benefits of income tax losses are not recognized in the accounts until realization is more likely than not. The Company has adopted SFAS No. 109 “Accounting for Income Taxes” as of its inception. Pursuant to SFAS No. 109 the Company is required to compute tax asset benefits for net operating losses carried forward. The potential benefit of net operating losses have not been recognized in these financial statements because the Company cannot be assured it is more likely than not it will utilize the net operating losses carried forward in future years.
l) Foreign Currency Translation
The Company’s functional and reporting currency is the United States dollar. Monetary assets and liabilities denominated in foreign currencies are translated in accordance with SFAS No. 52 “Foreign Currency Translation”, using the exchange rate prevailing at the balance sheet date. Gains and losses arising on settlement of foreign currency denominated transactions or balances are included in the determination of income. Foreign currency transactions are primarily undertaken in Canadian dollars. The Company has not, to the date of these financials statements, entered into derivative instruments to offset the impact of foreign currency fluctuations.
m) Recently Issued Accounting Pronouncements
In February 2010, the FASB (Financial Accounting Standards Board) issued Accounting Standards Update 2010-08 (ASU 2010-08), Technical Corrections to Various Topics. This amendment eliminated inconsistencies and outdated provisions and provided the needed clarifications to various topics within Topic 815. The amendments are effective for the first reporting period (including interim periods) beginning after issuance (February 2, 2010), except for certain amendments. The amendments to the guidance on accounting for income taxes in reorganization (Subtopic 852-740) should be applied to reorganizations for which the date of the reorganization is on or after the beginning of the first annual reporting period beginning on or after December 15, 2008. For those reorganizations reflected in interim financial statements issued before the amendments in this Update are effective, retrospective application is required. The clarifications of the guidance on the embedded derivates and hedging (Subtopic 815-15) are effective for fiscal years beginning after December 15, 2009, and should be applied to existing contracts (hybrid instruments) containing embedded derivative features at the date of adoption. The Company does not expect the provisions of ASU 2010-08 to have a material effect on the financial position, results of operations or cash flows of the Company.
In January 2010, the FASB (Financial Accounting Standards Board) issued Accounting Standards Update 2010-07 (ASU 2010-07), Not-for-Profit Entities (Topic 958): Not-for-Profit Entities: Mergers and Acquisitions. This amendment to Topic 958 has occurred as a result of the issuance of FAS 164. The Company does not expect the provisions of ASU 2010-07 to have a material effect on the financial position, results of operations or cash flows of the Company.
8
In January 2010, the FASB (Financial Accounting Standards Board) issued Accounting Standards Update 2010-06 (ASU 2010-06), Fair Value Measurements and Disclosures (Topic 820):
Improving Disclosures about Fair Value Measurements. This amendment to Topic 820 has improved disclosures about fair value measurements on the basis of input received from the users of financial statements. This is effective for interim and annual reporting periods beginning after December 15, 2009, except for the disclosures about purchases, sales, issuances, and settlements in the roll forward of activity in Level 3 fair value measurements. Those disclosures are effective for fiscal years beginning after December 15, 2010, and for interim periods within those fiscal years. Early adoption is permitted. The Company does not expect the provisions of ASU 2010-06 to have a material effect on the financial position, results of operations or cash flows of
the Company.
In January 2010, the FASB (Financial Accounting Standards Board) issued Accounting Standards Update 2010-05 (ASU 2010-05), Compensation – Stock Compensation (Topic 718). This standard codifies EITF Topic D-110 Escrowed Share Arrangements and the Presumption of Compensation.
In January 2010, the FASB (Financial Accounting Standards Board) issued Accounting Standards Update 2010-04 (ASU 2010-04), Accounting for Various Topics—Technical Corrections to SEC Paragraphs.
In January 2010, the FASB (Financial Accounting Standards Board) issued Accounting Standards Update 2010-03 (ASU 2010-03), Extractive Activities—Oil and Gas (Topic 932): Oil and Gas Reserve Estimation and Disclosures. This amendment to Topic 932 has improved the reserve estimation and disclosure requirements by (1) updating the reserve estimation requirements for changes in practice and technology that have occurred over the last several decades and (2) expanding the disclosure requirements for equity method investments. This is effective for annual reporting periods ending on or after December 31, 2009. However, an entity that becomes subject to the disclosures because of the change to the definition oil- and gas- producing activities may elect to provide those disclosures in annual periods beginning after December 31, 2009. Early adoption is not permitted. The Company does not expect the provisions of ASU 2010-03 to have a material effect on the financial position, results of operations or cash flows of the Company.
In January 2010, the FASB issued Accounting Standards Update 2010-02, Consolidation (Topic 810): Accounting and Reporting for Decreases in Ownership of a Subsidiary. This amendment to Topic 810 clarifies, but does not change, the scope of current US GAAP. It clarifies the decrease in ownership provisions of Subtopic 810-10 and removes the potential conflict between guidance in that Subtopic and asset derecognition and gain or loss recognition guidance that may exist in other US GAAP. An entity will be required to follow the amended guidance beginning in the period that it first adopts FAS 160 (now included in Subtopic 810-10). For those entities that have already adopted FAS 160, the amendments are effective at the beginning of the first interim or annual reporting period ending on or after December 15, 2009. The amendments should be applied
9
retrospectively to the first period that an entity adopted FAS 160. The Company does not expect the provisions of ASU 2010-02 to have a material effect on the financial position, results of operations or cash flows of the Company.
In January 2010, the FASB issued Accounting Standards Update 2010-01, Equity (Topic 505): Accounting for Distributions to Shareholders with Components of Stock and Cash (A Consensus of the FASB Emerging Issues Task Force). This amendment to Topic 505 clarifies the stock portion of a distribution to shareholders that allows them to elect to receive cash or stock with a limit on the amount of cash that will be distributed is not a stock dividend for purposes of applying Topics 505 and 260. Effective for interim and annual periods ending on or after December 15, 2009, and would be applied on a retrospective basis. The Company does not expect the provisions of ASU 2010-01 to have a material effect on the financial position, results of operations or cash flows of the Company.
In December 2009, the FASB issued Accounting Standards Update 2009-17, Consolidations (Topic 810): Improvements to Financial Reporting by Enterprises Involved with Variable Interest Entities. This Accounting Standards Update amends the FASB Accounting Standards Codification for Statement 167. (See FAS 167 effective date below)
In December 2009, the FASB issued Accounting Standards Update 2009-16, Transfers and Servicing (Topic 860): Accounting for Transfers of Financial Assets. This Accounting Standards Update amends the FASB Accounting Standards Codification for Statement 166. (See FAS 166 effective date below)
In October 2009, the FASB issued Accounting Standards Update 2009-15, Accounting for Own- Share Lending Arrangements in Contemplation of Convertible Debt Issuance or Other Financing. This Accounting Standards Update amends the FASB Accounting Standard Codification for EITF 09- 1. (See EITF 09-1 effective date below)
In October 2009, the FASB issued Accounting Standards Update 2009-14, Software (Topic 985): Certain Revenue Arrangements That Include Software Elements. This update changed the accounting model for revenue arrangements that include both tangible products and software elements. Effective prospectively for revenue arrangements entered into or materially modified in fiscal years beginning on or after June 15, 2010. Early adoption is permitted. The Company does not expect the provisions of ASU 2009-14 to have a material effect on the financial position, results of operations or cash flows of the Company.
In October 2009, the FASB issued Accounting Standards Update 2009-13, Revenue Recognition (Topic 605): Multiple-Deliverable Revenue Arrangements. This update addressed the accounting for multiple-deliverable arrangements to enable vendors to account for products or services (deliverables) separately rather than a combined unit and will be separated in more circumstances that under existing US GAAP. This amendment has eliminated that residual method of allocation. Effective prospectively for revenue arrangements entered into or
10
materially modified in fiscal years beginning on or after June 15, 2010. Early adoption is permitted. The Company does not expect the provisions of ASU 2009-13 to have a material effect on the financial position, results of operations or cash flows of the Company.
In September 2009, the FASB issued Accounting Standards Update 2009-12, Fair Value Measurements and Disclosures (Topic 820): Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent). This update provides amendments to Topic 820 for the fair value measurement of investments in certain entities that calculate net asset value per share (or its equivalent). It is effective for interim and annual periods ending after December 15, 2009. Early application is permitted in financial statements for earlier interim and annual periods that have not been issued. The Company does not expect the provisions of ASU 2009-12 to have a material effect on the financial position, results of operations or cash flows of the Company.
In July 2009, the FASB ratified the consensus reached by EITF (Emerging Issues Task Force) issued EITF No. 09-1, (ASC Topic 470) “Accounting for Own-Share Lending Arrangements in Contemplation of Convertible Debt Issuance” (“EITF 09-1”). The provisions of EITF 09-1, clarifies the accounting treatment and disclosure of share-lending arrangements that are classified as equity in the financial statements of the share lender. An example of a share-lending arrangement is an agreement between the Company (share lender) and an investment bank (share borrower) which allows the investment bank to use the loaned shares to enter into equity derivative contracts with investors. EITF 09-1 is effective for fiscal years that beginning on or after December 15, 2009 and requires retrospective application for all arrangements outstanding as of the beginning of fiscal years beginning on or after December 15, 2009. Share- lending arrangements that have been terminated as a result of counterparty default prior to December 15, 2009, but for which the entity has not reached a final settlement as of December 15, 2009 are within the scope. Effective for share-lending arrangements entered into on or after the beginning of the first reporting period that begins on or after June 15, 2009. The Company does not expect the provisions of EITF 09-1 to have a material effect on the financial position, results of operations or cash flows of the Company.
In June 2009, the FASB issued SFAS No. 168 (ASC Topic 105), “The FASB Accounting Standards Codification and the Hierarchy of Generally Accepted Accounting Principles – a replacement of FASB Statement No. 162” (“SFAS No. 168”). Under SFAS No. 168 the “FASB Accounting Standards Codification” (“Codification”) will become the source of authoritative US GAAP to be applied by nongovernmental entities. Rules and interpretive releases of the Securities and Exchange Commission (“SEC”) under authority of federal securities laws are also sources of authoritative GAAP for SEC registrants. SFAS No. 168 is effective for financial statements issued for interim and annual periods ending after September 15, 2009. On the effective date, the Codification will supersede all then-existing non-SEC accounting and reporting standards. All other non- grandfathered non-SEC accounting literature not included in the Codification will become non- authoritative. SFAS No. 168 is effective for the Company’s interim quarterly period beginning July 1, 2009. The Company does not expect the adoption of SFAS No. 168 to have an impact on the financial statements.
11
In June 2009, the FASB issued SFAS No. 167 (ASC Topic 810), “Amendments to FASB Interpretation No. 46(R) (“SFAS 167”). SFAS 167 amends the consolidation guidance applicable to variable interest entities. The provisions of SFAS 167 significantly affect the overall consolidation analysis under FASB Interpretation No. 46(R). SFAS 167 is effective as of the beginning of the first fiscal year that begins after November 15, 2009. SFAS 167 will be effective for the Company beginning in 2010. The Company does not expect the provisions of SFAS 167 to have a material effect on the financial position, results of operations or cash flows of the Company.
In June 2009, the FASB issued SFAS No. 166, (ASC Topic 860) “Accounting for Transfers of Financial Assets—an amendment of FASB Statement No. 140” (“SFAS 166”). The provisions of SFAS 166, in part, amend the derecognition guidance in FASB Statement No. 140, eliminate the exemption from consolidation for qualifying special-purpose entities and require additional disclosures. SFAS 166 is effective for financial asset transfers occurring after the beginning of an entity’s first fiscal year that begins after November 15, 2009. The Company does not expect the provisions of SFAS 166 to have a material effect on the financial position, results of operations or cash flows of the Company.
Note 3 – Common Stock
On September 25, 2009, the company issued 20,000,000 restricted common shares to FMS SA to acquire 51% of the outstanding shares of FMS SA, a company incorporated and legally existing under the laws of Greece. The issued of the 20,000,000 Common Shares to FMS SA will effect a change in control of the company.
On September 25, 2009, the company issued 11,052,631 restricted common shares to Mr. Evangelos Alexandris, the President of the company, constitutes an increase of 10% or greater of the company’s outstanding securities.
On December 30, 2009, the company issued 2,150,000 restricted common shares at $0.01 per share to three parties for debt settlement.
FLMG .75x .77 on the 22nd they released their quarterly report and the numbers are good. Profitable company with a lot of potential. Looking for price to appreciate over a dollar soon.
FLMG now at .77 ;) slow and steady this one is a sleeper
Dang I was contemplating jumping in yesterday and didnt, now I am kicking myself in the butt. Watching for its next dip and will load then. Hopefully under a buck.
ECOB + 23% on substantial news adding over $300k in revs
http://finance.yahoo.com/news/Old-World-Tuscan-Villa-pz-1314190865.html?x=0&.v=1
EcoBlu Products, Inc., (OTCBB:ECOB) announced today that the Company has secured an order to provide all framing lumber coated with BLUWOOD(TM) technology for a 15,000 sq. ft Old World Tuscan Villa constructed on top of a knoll in Pleasanton, CA. The project, in the planning stages since 2001, struggled to meet local building requirements. Very stringent restrictions are mandated on the environmental impact of trees, pest control management, ground water and architectural requirements. The owner of this project chose to follow strict LEED's platinum guidelines incorporating FSC lumber treated with BLUWOOD(TM) technology.
BLUWOOD(TM) coatings make sense with such an environmentally sensitive project. EcoBlu solves all the issues with Mold, Wood-Rot and Termites which offer LEED's credits to the project. The project incorporates such details as imported windows and reclaimed roof tiles from Italy as well as exterior stone, columns and moldings imported from Spain. It only makes sense to protect the structure with BLUWOOD(TM) coatings. This project represents in excess of $300,000.00 in revenue to the Company with first shipments scheduled this month.
"I am very happy to be part of such an environmentally sensitive project that shapes the future of our building requirements. The architect of this project specified BLUWOOD(TM) after performing a lot of due diligence on our technology," said Steve Conboy, President and CEO of EcoBlu Products.
About EcoBlu Products, Inc.
EcoBlu Products, Inc. is a manufacturer of proprietary wood products coated with an eco-friendly chemistry that protects against mold, fungus, rot-decay, wood ingesting insects, termites and fire with EcoBlu's FRC(TM) technology (Fire Retardant Coating). EcoBlu products utilizing BLUWOOD(TM) and FRC(TM) techn
Considering AMEL as a good buy. Seems to have good daily volume and is trading in a nice channel. Any opinions on this stock?
AMEL seems to be trading in a nice channel looking to accumulate in the 1.20's. Any one have any thoughts to share with me about this stock?
Short response to a previous post. I was complaining about DPBE shorts and someone asked how long they had to cover. I found an answer through an email i received from Bestdamnpennystock.com(BDPS) where they say the shorts have three days to cover. They showed LYJN as their example of a huge short squeeze. BDPS feels their Ideology is correct and their current paid promo EWPI is supposed to have a short squeeze. Read below
All Members on High Alert.
Amazing News was Released after the Market close today
Emerging World Pharma Inc. Continues Its Investment Into Generic Drug Manufacturing in Developing Countries
Short Squeeze Alert!
Right now we are looking at a massive short in EWPI and I mean massive. I am about to prove to you exactly what has happened almost over night. You will see the numbers for yourself right from the government website that reports on shorts every single day with the numbers. It is hard to believe but it is an absolute fact.
The tactics that shorters use to freak you out making you hand them YOUR profits out of panic and fear is nothing less than shameless. We believe it is a sin of the highest proportions. Just recently we watched one of the largest shorts we've ever seen get their asses handed to them, again in just a few days. I am sure it wasn't easy but the people stood up to them and won short term. Massive profits were had by many that day. Look for yourself.
03/16/10 102,519 0.003 0.003 0.003
03/17/10 2,974,193 0.015 0.004 0.015
03/18/10 46,518,256 0.037 0.022 0.022
03/19/10 34,581,500 0.026 0.018 0.024
03/22/10 127,539,360 0.046 0.029 0.046
03/23/10 189,890,768 0.085 0.049 0.080
03/24/10 312,506,400 0.174 0.050 0.074
Here is the short sellers on the 18th the first real trading day with heavy volume. 20100318|LYJN|8250331|44123257|O The red is the short. Here is the following day Apr. 19 20100319|LYJN|10857610|34026499|O. The newsletters starting to scream about all this shorting.
Here is Monday Apr. 22, the short for this day is a shopping 43.9 Million. The newsletters are freaking out big time. There is more to come.
20100322|LYJN|43932744|124183361|O Tuesday Apr. 23 they start to win against all odds the stock nearly doubles in spite of the short, it is being squeezed. The stock trades 189 M shares! Almost unheard of. Here is the short. 20100323|LYJN|49911470|189201253|O.
The following day is Apr. 24 when all hell breaks loose and the stock trades 312 M shares. Holy Cow it goes from 8cents all the way to 17.4 as investors cash in their massive win. Here is the short that day, 20100324|LYJN|73606893|309541081|O. 73M. Unbelievable. As you can see, amazing money was made in just a few days. The newsletters fought back hard. Truthfully I believe almost everyone was praying for them. I know we were.
Now time for EWPI and it's short.
The first real attention EWPI received was on March 22. A small alert on the company by one newsletters sent EWPI soaring over 200% mid day. The stock traded over 2.4M shares that day. Early in the evening we waiting for the short report to come out because nothing made sense. Things weren't adding up.
03/17/10 2,399 0.330 0.241 0.241
03/22/10 2,486,366 0.950 0.250 0.661
Take note the stock went to 95 cents and then for no real reason tumbled to 66 cents. Something just didn't add up. Profit taking a day trading were some of course but not that much in our opinion. Here is Finras report for March 22. 20100322|EWPI|1021652|2480278|O. Remember this is the first day of any real volume and over 1 M short already? This is absolutely insane. Even we started to freak out. How the hell is this being allowed we all ask?
Here is more recent activity as of this week.
04/01/10 118,600 0.490 0.435 0.480
04/05/10 473,380 0.620 0.470 0.620
04/06/10 3,851,474 0.940 0.680 0.716
On Apr. 5, 20100405|EWPI|254239|473380|O, half the volume was a short. Amazing. Imagine how much was stolen from traders? April 6th EWPI moved up in spite of heavy pressure, here is the short, 20100406|EWPI|1494499|3580862|O
again nearly half of the days volume, 1.49M shorted. Today they continued to freak out the traders and the stock fell 31%. The report is out already, see for yourself, the stock was shorted again nearly half the volume, 20100407|EWPI|878266|1697407|O
Interesting set of circumstances, supposedly there is a 3 day rule. It hits tomorrow. Will they get handed what they need to cover? A short squeeze can happen if traders do not hand over their profits out of fear. If traders take advantage of cheap prices amazing things can happen almost over night.
We are pissed! We are sick of this shorting practice. Unfortunately NO one does anything to stop it. We watched for the past two years as hedge funds and others shorted the hell out of the big board stocks, you will remember the shorts on the banks. It was so bad that the Gov. stopped all shorts against the banks and financial institutions We are asking one big question here, If they could stop this shorting on banks then why not everyone? Make this practice of naked shorting ILLEGAL. Stop the theft. Do something about it SEC, FINRA. America will not survive as long as people think this is ok and these Gov agencies who are supposed to protect the people over look this practice. NO one would do it if they faced massive fines and jail. It should be theft for counterfeiting. That is exactly what it is. YOU cannot sell something you don't have!
On to a more positive note. We think we can win big short term.
More Amazing News Was Released After the Market Close Today
Emerging World Pharma Inc. Continues Its Investment Into Generic Drug Manufacturing in Developing Countries
http://finance.yahoo.com/news/Emerging-World-Pharma-Inc-iw-870230073.html?x=0&.v=1
I believe EWPI may be one of the, if not the top percentage leader in the whole market tomorrow. The timing is perfect. Some shorts will cover for sure. Everyone should be on high alert and watch EWPI like a hawk.
To get right to the point, this matters most, EWPI is just starting to feed us with good news. We like this company for many reason and probably the number one reason is people. So many people die when a simple antibiotic could save their life. A malaria drug could cure them yet they die because they do not have the lifesaving drugs that we in America take for granted. As we said before this is a billion dollar under-served market and EWPI appears to have their finger on the pulse. We also like the fact that the Catholic Diocese will be at the center of this deal. The humanitarian effort is something they know well. Right now we will continue to follow EWPI as this company tells it's story.
Look for good news. We are on EWPI like white on rice.
Sincerely,
Staff@BestDamnPennyStocks.com
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Don't hesitate. Don't just sit on the sidelines. Get in the game. You will be thanking me when this is over a dollar. FLMG has soo much upside potential I wont pound the table anymore.
FLMG .74's being nibbled on. next offer is .80 then.96 then 1.01. Im telling you guys its super thin to a dollar. This will start to get attention once its over a dollar. Now that its undervalued and unnoticed its the time to buy. FLMG came out with some nice news today about a new contract which should add over $450k to their bottom line. Read below!
April 7th, 2010-- Fleet Management Solutions Inc. (PINKSHEETS: FLMG) ("FMS" or "the Company") is pleased to announce a new contract with Ethniki Rent S.A., concerning the "After Sales" services provision to their fleet. FMS Inc. will provide to Ethniki Rent S.A., Accident and Breakdown Management, provision of replacement vehicle and Scheduled maintenance. The expected Gross Turnover is to exceed U.S. $ 450,000.00 in total.
CEO Evangelos Alexandris stated, "Our young company is equipped with an experienced management team that continues to strive for growth. It is this leadership that allows us to make such contracts."
About FMS Inc. (http://www.fms-greece.com)
The Company is based in Athens, Greece and currently owns and operates 3 commercial locations with 15 full time employees. FMS provides a number of fleet management solutions in the automotive sector throughout the country and various parts of the Balkans. The Company was formed as result of a merger between ABR Bosch Car Services, which was founded in 1992, and EDC Hellas S.A., which was founded in 1998 by EDC Holdings. With decades of experience, both companies identified an opportunity in the automotive market by providing fleet management services and solutions and subsequently formed FMS S.A. which has grown 311% in the last 3 years.
The Company is focused on utilizing its vast automotive industry experience and its "state of the art" technologies to provide the very best turnkey services and solutions while significantly reducing costs for its client companies. FMS provides numerous comprehensive fleet management solutions such as online fleet management, maintenance programs, 24 hour roadside assistance, fuel management programs, insurance programs, license and title services, telematics and acquisition and lease buyout programs, and re-marketing of used vehicles. FMS utilizes authorized dealership networks and the BOSCH Car Service Network with 120 service locations in Greece.
FLMG is getting ready to go here 5k shares in buying just came through and took out the offer at .73.
FLMG news these .73s might not be around much longer
FMS & Ethniki Rent Contract
NAPLES, FL, Apr 07, 2010 (MARKETWIRE via COMTEX) -- Fleet Management Solutions Inc. (PINKSHEETS: FLMG) ("FMS" or "the Company") is pleased to announce a new contract with Ethniki Rent S.A., concerning the "After Sales" services provision to their fleet. FMS Inc. will provide to Ethniki Rent S.A., Accident and Breakdown Management, provision of replacement vehicle and Scheduled maintenance. The expected Gross Turnover is to exceed U.S. $ 450,000.00 in total.
CEO Evangelos Alexandris stated, "Our young company is equipped with an experienced management team that continues to strive for growth. It is this leadership that allows us to make such contracts."
About FMS Inc. (http://www.fms-greece.com)
The Company is based in Athens, Greece and currently owns and operates 3 commercial locations with 15 full time employees. FMS provides a number of fleet management solutions in the automotive sector throughout the country and various parts of the Balkans. The Company was formed as result of a merger between ABR Bosch Car Services, which was founded in 1992, and EDC Hellas S.A., which was founded in 1998 by EDC Holdings. With decades of experience, both companies identified an opportunity in the automotive market by providing fleet management services and solutions and subsequently formed FMS S.A. which has grown 311% in the last 3 years.
The Company is focused on utilizing its vast automotive industry experience and its "state of the art" technologies to provide the very best turnkey services and solutions while significantly reducing costs for its client companies. FMS provides numerous comprehensive fleet management solutions such as online fleet management, maintenance programs, 24 hour roadside assistance, fuel management programs, insurance programs, license and title services, telematics and acquisition and lease buyout programs, and re-marketing of used vehicles. FMS utilizes authorized dealership networks and the BOSCH Car Service Network with 120 service locations in Greece.
FMS & Ethniki Rent Contract
NAPLES, FL, Apr 07, 2010 (MARKETWIRE via COMTEX) -- Fleet Management Solutions Inc. (PINKSHEETS: FLMG) ("FMS" or "the Company") is pleased to announce a new contract with Ethniki Rent S.A., concerning the "After Sales" services provision to their fleet. FMS Inc. will provide to Ethniki Rent S.A., Accident and Breakdown Management, provision of replacement vehicle and Scheduled maintenance. The expected Gross Turnover is to exceed U.S. $ 450,000.00 in total.
CEO Evangelos Alexandris stated, "Our young company is equipped with an experienced management team that continues to strive for growth. It is this leadership that allows us to make such contracts."
About FMS Inc. (http://www.fms-greece.com)
The Company is based in Athens, Greece and currently owns and operates 3 commercial locations with 15 full time employees. FMS provides a number of fleet management solutions in the automotive sector throughout the country and various parts of the Balkans. The Company was formed as result of a merger between ABR Bosch Car Services, which was founded in 1992, and EDC Hellas S.A., which was founded in 1998 by EDC Holdings. With decades of experience, both companies identified an opportunity in the automotive market by providing fleet management services and solutions and subsequently formed FMS S.A. which has grown 311% in the last 3 years.
The Company is focused on utilizing its vast automotive industry experience and its "state of the art" technologies to provide the very best turnkey services and solutions while significantly reducing costs for its client companies. FMS provides numerous comprehensive fleet management solutions such as online fleet management, maintenance programs, 24 hour roadside assistance, fuel management programs, insurance programs, license and title services, telematics and acquisition and lease buyout programs, and re-marketing of used vehicles. FMS utilizes authorized dealership networks and the BOSCH Car Service Network with 120 service locations in Greece.
ECOF in the loading zone. Was up to .28 this morning dipped to .15 now at .195. There was three MM's on the offer at .195 now only one. Looking to head back up IMO
ECOF hit .28 from my alert at .15. WEeeeee
ECOF alerted by Hototc.com and Stockegg.com. Tomorrow should be fun.
HotOtc.com - Watch List for Tuesday?
Sent: Mon 4/05/10 8:55 PM
Watch List for Tuesday 4-6-2010
ALME an alert from the other week is currently up 44%!!
Keep a very close eye on ECOF. The volume has come to life the last few days and the stock is starting to move up. This might be the start of a bigger rally. ECOF announced significant news this morning which may be the catalysts for a big rally. Read the news on ECOF below.
ECOF - Possible Breakout
http://www.chartmoney.com/stockquotes.php?ticker=ecof
ECO2 Forests Inc. has announced its projects in their pipeline under review has passed a global total of 1.5 million acres for the first time. Projects under review are located in multiple regions of mainland USA, Australia, Mexico, Europe, South East Asia and South America and are in various stages of review, from initial due diligence and area feasibility through to final stages of negotiation and letters of intent being completed.
**********************
IMGG - Momentum
http://www.chartmoney.com/stockquotes.php?ticker=imgg
Imaging3, Inc., is a leading provider of advanced technology medical imaging devices. The Company has developed a breakthrough medical imaging device that produces 3D medical diagnostic images of virtually any part of the human body in real-time
**********************
IMUC - Volume Alert
http://www.chartmoney.com/stockquotes.php?ticker=imuc
IMUC is a Los Angeles-based clinical-stage company that is developing immune-based therapies for the treatment of brain and other cancers.
StockEgg.com - Watch List for Tuesday 4-6-2010
...
From:
StockEgg.com <info@stockegg.com>
...
Watch List for Tuesday 4-5-2010
Keep your eye on ECOF, the volume has picked up over the last couple of days and it's trending higher. ECOF reported some huge news this morning. ECOF announced its projects in their pipeline under review has passed a global total of 1.5 million acres for the first time.
ECOF - Volume Alert
http://www.chartspread.com/stockcharts.php/?ticker=ecof
ECO2 Forests is a progressive international forestation company focused on reforestation, afforestation and avoided deforestation projects for the generation and sale of sustainable lumber and carbon credits to the global markets.
SOLU - Trade Alert
http://www.chartspread.com/stockcharts.php/?ticker=solu
About Solutions Group Corp: Solutions Group (SGI) has a history of being a world class international provider of Engineering Services and innovative products focused around the Automotive and Transportation Industry.
MVIS - Volume Alert
http://www.chartspread.com/stockcharts.php/?ticker=mvis
Microvision, Inc. engages in the development of miniature display and imaging engines based on its proprietary PicoP display engine platform in the United States.
HotOtc.com - Watch List for Tuesday?
From: Hototc.com (info@hototc.ccsend.com) on behalf of Hototc.com (info@hototc.com)
Sent: Mon 4/05/10 8:55 PM
Watch List for Tuesday 4-6-2010
ALME an alert from the other week is currently up 44%!!
Keep a very close eye on ECOF. The volume has come to life the last few days and the stock is starting to move up. This might be the start of a bigger rally. ECOF announced significant news this morning which may be the catalysts for a big rally. Read the news on ECOF below.
ECOF - Possible Breakout
http://www.chartmoney.com/stockquotes.php?ticker=ecof
ECO2 Forests Inc. has announced its projects in their pipeline under review has passed a global total of 1.5 million acres for the first time. Projects under review are located in multiple regions of mainland USA, Australia, Mexico, Europe, South East Asia and South America and are in various stages of review, from initial due diligence and area feasibility through to final stages of negotiation and letters of intent being completed.
**********************
IMGG - Momentum
http://www.chartmoney.com/stockquotes.php?ticker=imgg
Imaging3, Inc., is a leading provider of advanced technology medical imaging devices. The Company has developed a breakthrough medical imaging device that produces 3D medical diagnostic images of virtually any part of the human body in real-time
**********************
IMUC - Volume Alert
http://www.chartmoney.com/stockquotes.php?ticker=imuc
IMUC is a Los Angeles-based clinical-stage company that is developing immune-based therapies for the treatment of brain and other cancers.
.73s were getting gobbled up today. Shouldnt be many more at this level!
Increased Activity today. Stock looks to have bottomed and should bounce hard from here. Level2 looks thin to .60's
Dont forget about FLMG gang. This stock will be over a dollar soon. Watch. As for ECOF we got over .25 earlier and touched .26 pulled back a bit but we are setting up to go way higher IMO.
.25's are asside now we can go higher. ECOF from .15 weeeeeeeeeeeee
ECOF up 25% and still has room to grow. Once we get over the resistance area at .25 ECOF should really breakout nicely. Im looking for ECOF to return to the .40's
Once we get over .25 and .26 we should get a nice breakout. Looking for ECOF to return to the .40's
ECOF wants to return to the .40's IMO
Here we goo 1 MM down now 3 to go at .25, Im hearing big news is coming tomorrow.
ECOF +24.5% once we get over the resistance at .25 it will be Bluesky
ECOF +20% eeds to get over .25 to continue to move up
Heck yea tell him how it is. If you don't agree with the company then don't hang around. Its as simple as that. Oh wait not so simple, there are Huge shorts in this stock. Off course the people who are shorting the stock are going to get on the message boards and bash the company especially when the price keeps inching up. The shorts are crapping their pants now because they are going to have to cover at higher prices. Next week we go higher and the shorts are going to get burned!!!
FLMG 10k shares buy and an uptick now .70x .745 2x1 Get your tickets while they are still cheap. Next week will be great!!! Mark this post
FLMG 10k shares and an uptick .745 next
Wow this BJCT is looking good .26x .30 from what I heard its a pending FDA play, phase 1 & 2 clinical trials supposedly coming in May!!
BJCT +53% Bio-Medical Play looks like it has a super low float!!!
DPBE .0116x .012 starting to shape up nicely for next week. Looking for .02!
DPBE making some headway. Look out above. Strong support now over a penny. Looking for a continued move into next week.