TGIF
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Covalon loses $2.8-million in Q2 2009
2009-05-28 11:51 ET - News Release
Dr. Frank DiCosmo reports
COVALON RELEASES SECOND QUARTER 2009 FINANCIAL RESULTS
Covalon Technologies Ltd. has released its financial statements for the second quarter of fiscal 2009 ending March 31, 2009. Total revenues for the three months ending March 31, 2009, were $781,433, an increase of $126,808 over the same period of the previous year. Total revenues for the six months ending March 31, 2009, were $1,243,600 compared with $1,585,519 in the same period of the previous year. Net loss for the six months ending March 31, 2009, was $2.8-million and net cash outflows for the same period were $3.6-million. At March 31, 2009, the company had $9.0-million in cash and cash equivalents available for use.
Peter Hobbes, Covalon's chief financial officer, noted: "I am quite pleased with the steps that Covalon is taking to reduce expenses, preserve cash and improve sales. I am encouraged by the focused efforts of management and staff to improve our performance."
Dr. Frank DiCosmo, Covalon co-founder, president and chief executive officer, stated: "Covalon's exceptional team of world-class medical researchers and scientists are extremely busy working on a number of existing projects and new sales initiatives. I am optimistic that our shareholders' patience will be rewarded in due course and that our sales activities led by Covalon co-founder and chief business officer, William Jackson, will result in new customer contracts."
GRG time to accumulate imo
VAV pick ing up some
IRS tax revenue has plunged 34% --- that is very worrisome as you say bye bye to tax base which is paying for stimulus.
SEC charges eight men in alleged pump-and-dumps
2009-05-22 14:23 ET - Street Wire
Also Street Wire (U-*SEC) U.S. Securities and Exchange Commission
by Mike Caswell
The U.S. Securities and Exchange Commission has filed civil fraud charges against eight men who allegedly made $6.2-million pumping and dumping four separate stocks. (All figures are in U.S. dollars.) The companies include Playstar Corp., an Ontario pink sheets listing that purported to be developing a proprietary text message system for cellphones. The SEC alleges that the men received free-trading shares of Playstar and the three other companies for little money, and then sold them on the market after manipulating the stocks.
In addition to the SEC case, seven of the men are facing criminal charges in parallel indictments unsealed Thursday in the District of Delaware. Those criminally indicted include Matthew Brown, 26, who operates the penny stock website InvestorsHub.com. Others indicted were Pawel Dynkowski, 24, of Delaware; Joseph Mangiapane, 43, of California; Marc Riviella, 50, of California; Jacob Canceli, 50, of California; Gerard D'Amaro, 38, of Florida; and Angelo "Bill" Panetta, 48, of California. The defendants in the SEC case include an eighth man not criminally charged, Adam Rosengard of New Jersey.
SEC's complaint
The SEC, in a complaint filed May 21, 2009, in the District of Delaware, claims that the manipulations happened in 2006 and 2007, and followed a similar pattern. First, Mr. Dynkowski and his accomplices agreed to sell large blocks of shares of penny stock companies in exchange for a portion of the proceeds, the SEC claims. It says the companies placed these shares in nominee accounts that Mr. Dynkowski controlled. Then, Mr. Dynkowski and the other defendants pumped the stocks through wash sales and matched orders, often timed with false or misleading news releases from the companies, the complaint states. After artificially inflating the stocks, Mr. Dynkowski and the other defendants allegedly sold the shares and split the illicit profits.
The complaint identifies four companies that were manipulated in the scheme: GH3 International Inc., Asia Global Holdings Inc., Playstar Corp. and Xtreme Motorsports of California Inc. The Playstar scheme began in October, 2006, the SEC says. Between Oct. 18 and Dec. 19, 2006, Playstar allegedly arranged for 39.6 million shares to be transferred to two accounts controlled by Mr. D'Amaro. At the company's direction, these shares had no restrictive legends, meaning they could be freely traded, the complaint states.
Starting on Oct. 19, 2006, Mr. Dynkowski allegedly used these shares to dramatically increase the company's price by arranging wash sales and matched orders that accounted for millions of shares in volume. At the same time, Mr. D'Amaro had Playstar's chief executive officer issue numerous misleading news releases touting the company, the SEC says. The stock subsequently rose from half a penny on Oct. 18, 2006, the day before the alleged pump started, to 12 cents by Nov. 9, 2006.
As the stock rose, Mr. Dynkowski and Mr. D'Amaro allegedly started selling shares from the nominee accounts. The SEC says that in total, they sold 39.6 million shares of Playstar for a profit of $1.18-million, which they divided between themselves and Playstar or its representatives. The complaint does not make specific allegations against anybody at Playstar, nor does it identify who at the company provided Mr. Dynkowski and Mr. D'Amaro with the shares.
The SEC claims that during the pump-and-dump, Playstar issued a news release designed to mislead shareholders into believing that naked short-sellers were responsible for massive selling of the stock. The news release stated that the company had ordered a list of non-objecting beneficial owners from its transfer agent. "In reality, the alleged naked short selling was actually Dynkowski dumping the shares he had received from Playstar," the complaint states.
The SEC says the largest of the three pump-and-dumps was Asia Global Holdings, which purported to have the rights to the show "Who Wants to be a Millionaire" in China. According to the complaint, the men made $4.05-million dumping Asia Global. Mr. Dynkowski and Mr. Brown allegedly dumped the shares using nominee accounts opened by Mr. Mangiapane and Mr. Riviella, who used their positions as registered representatives at California brokerage AIS Financial Inc. for the scheme.
According to the complaint, the manipulative trades helped boost the stock from 11.5 cents on Aug. 9, 2006, to a high of 41 cents on Aug. 25, 2006. While Mr. Dynkowski and Mr. Brown were selling shares from nominee accounts, they had the company issue a news release touting its second quarter 2006 results, the SEC claims. "Dynkowski told Brown to 'make it sound good ... like AAGH [Asia Global] announces record revenue net profits [sic]' and suggested that the press release state that the company's profits had increased by at least 300%," the complaint reads. The company then issued a news release claiming that its second quarter net income rose 370 per cent, the SEC notes.
The SEC is seeking injunctions preventing future violations of the U.S. Securities Act, appropriate civil penalties and disgorgement, as well as permanent penny stock bans against Mr. Dynkowski, Mr. Brown, Mr. Canceli, Mr. D'Amaro and Mr. Rosengard.
The seven men that were named in the criminal case face varying sentences, should they be found guilty. Mr. Dynkowski and Mr. Mangiapane have the longest potential sentence. They are charged with nine counts of fraud, each of which carries a maximum penalty of 20 years in jail and a fine of up to $5-million.
In a statement issued Thursday, the U.S. Attorney's Office in Delaware said that law enforcement had been investigating the case since 2007. The agencies involved included the Department of Homeland Security, the Internal Revenue Service and the Delaware State Police.
GOLD will crack $1k per oz well before eoy
All good here ... working hard and getting ready for winter getaway
ASP.NET Machine Account
http://www.mvps.org/marksxp/WindowsXP/aspdot.php
lol
VRS is trading in a nice range
Thank you very much!
Great, worked within 2 minutes flat!!
ty
ou
Thanks!
I have another question. I was exchanging pictures with my niece using a card reader on my USB (G) drive of my desktop and AVAST gave a warning of a BV:Auto Run- G Worm --- Now I can't seem to get rid of it as it appears every time I plug in the memory stick in the desktop USB.
tia
ou
Good morning!
How do you password secure a wi-fi connection?
Thanks
VRS volume
Thank you so much Bruce!! You are incredibly knowledgeable and I so so much appreciate all your good work here.
Cheers!
While running a deep scan with a-squared free 4.0, I find three (3) trojans Name: Trojan.ATRAPS!IK
in DVD Toshiba Factory which is a program that I never used but seems to have been installed on laptop when I configured it on Jan 15, 2009.
Does that mean Toshiba sold me an infected laptop?
lol
Sell on news and buy on anticipation
HNU looks goood!!
I started reading some Lawrence Block books and though a bit dated now I like the style from the 40s film noir style.
The Wrestler
I really enjoyed this movie. Mickey Rourke at his best and most comprehensible. I always sort of like this actor but here he goes deep into a role and comes out a huge winner!
good ones
Venga affiliate begins road, camp building at GoldMatta
2009-04-30 09:33 ET - News Release
Mr. Hirsh Kwinter reports
VENGA'S AFFILIATE STARTS CONSTRUCTION OF ACCESS ROAD TO LIBERIAN GOLD MINING SITE AND THE BUILDING OF MAIN BASE CAMP
Venga Aerospace Systems Inc.'s mining affiliate, Global Mineral Investments, LLC (GMI), has now started construction of an access road to GMI's GoldMatta mining site located in the Sanquin mining zone, Liberia. Venga also announced that GMI has started to erect both its main and subsidiary camps, and that all required mining equipment and supplies, including the principle dredge, have now been delivered to the mining sites. GMI is planning to carry on gold dredging operations in those portions of the Upper Tartweh River system flowing through its GoldMatta concession.
In commenting on the status of GMI's mining operation, George Duokenel, GMI's lead geologist and project manager, stated: "We are certainly on course. The team, cutting lines along the rivers to indicate the 16 deepest areas of the river system that we intend to dredge, has completed the job." Mr. Duokenel also confirmed that GMI has now received approval from both central and local governmental authorities to build the 2.9-mile road to GMI's mining sites which will give work crews better access to the sites and provide the local population with a major route between Tartweh and the provincial headquarters in Greenville.
Venga further announced that GMI and Venga have agreed to assist in the construction of the first health clinic and secondary school in the area where GMI's GoldMatta mining concession is located. "We think it is important to be good corporate citizens and to provide as much assistance to the local population as possible," stated Venga president, Hirsh Kwinter. "We want the local people, many of whom we are now hiring, and all governmental authorities to view our mining project as a collaborative effort that will be mutually beneficial to all stakeholders," continued Mr. Kwinter.
Venga affiliate begins road, camp building at GoldMatta
2009-04-30 09:33 ET - News Release
Mr. Hirsh Kwinter reports
VENGA'S AFFILIATE STARTS CONSTRUCTION OF ACCESS ROAD TO LIBERIAN GOLD MINING SITE AND THE BUILDING OF MAIN BASE CAMP
Venga Aerospace Systems Inc.'s mining affiliate, Global Mineral Investments, LLC (GMI), has now started construction of an access road to GMI's GoldMatta mining site located in the Sanquin mining zone, Liberia. Venga also announced that GMI has started to erect both its main and subsidiary camps, and that all required mining equipment and supplies, including the principle dredge, have now been delivered to the mining sites. GMI is planning to carry on gold dredging operations in those portions of the Upper Tartweh River system flowing through its GoldMatta concession.
In commenting on the status of GMI's mining operation, George Duokenel, GMI's lead geologist and project manager, stated: "We are certainly on course. The team, cutting lines along the rivers to indicate the 16 deepest areas of the river system that we intend to dredge, has completed the job." Mr. Duokenel also confirmed that GMI has now received approval from both central and local governmental authorities to build the 2.9-mile road to GMI's mining sites which will give work crews better access to the sites and provide the local population with a major route between Tartweh and the provincial headquarters in Greenville.
Venga further announced that GMI and Venga have agreed to assist in the construction of the first health clinic and secondary school in the area where GMI's GoldMatta mining concession is located. "We think it is important to be good corporate citizens and to provide as much assistance to the local population as possible," stated Venga president, Hirsh Kwinter. "We want the local people, many of whom we are now hiring, and all governmental authorities to view our mining project as a collaborative effort that will be mutually beneficial to all stakeholders," continued Mr. Kwinter.
Thanks for heads up, I trusted that place.
Those are great -- I like every one of those sayings.
I have a 500GB WD external hard drive where I copy my drive regularly (sorta)
I will be hearing KABOOM pretty soon as mine is 7 years old!
;-(
lol
LIFE
Life is an opportunity, benefit from it.
Life is beauty admire it.
Life is a dream, realize it.
Life is challenge meet it.
Life is duty complete it.
Life is game play it.
Life is promise fulfill it.
Life is sorrow overcome it.
Life is song sing it.
Life is struggle accept it.
Life is tragedy confront it.
Life is adventure, dare it.
Life is luck, make it.
Life is too precious, do not destroy it.
Life is Life, fight for it.
only 60% --- sounds like a good hold for you!
Low trader besides some spikes .... roll back at these levels is not good. So easy to see it go right back to pre-rs in no time on little volume.
jmo
BMSF is a very low volume trader
FaceBook for pets --- PawBook
http://www.pawbook.com/home.php
Glen Eagle signs LOI with Kinbauri Gold
2009-04-17 09:40 ET - News Release
Mr. Jean Labrecque reports
GLEN EAGLE RESOURCES INC.: BINDING LETTER OF INTENT
Glen Eagle Resources Inc. has signed a binding letter of intent with Kinbauri Gold Corp. whereby Glen Eagle will invest $32-million in return for a 45-per-cent interest in Kinbauri Espana S.L., the owner and operator of the El Valle/Carles gold/copper project and other exploitation concessions within the Rio Narcea gold belt in northwestern Spain. The agreement also grants Glen Eagle the right to buy an additional 5-per-cent interest for a further $5-million. Kinbauri shall remain as the operator of the project.
Glen Eagle is pleased to be working with its new partner Kinbauri Gold and its chief executive officer, Dr. Vern Rampton, PhD, president. Glen Eagle is equally pleased to be able to participate in an advanced stage project where all the technical and financial engineering has been extensively elaborated in a well-defined scoping study.
Closing of transaction
The transaction is scheduled to close by May 15, 2009, and is subject to customary due diligence, execution of final shareholder, operating agreements, the completion of due diligence, all necessary approvals of regulatory, stock exchange and securities authorities and commissions, and compliance with requirements of applicable securities laws.
Update
The credit facility (see news in Stockwatch March 24, 2009) allocated to Glen Eagle Resources has been extended from May 1 to June 12, 2009.
We seek Safe Harbor.
Working very hard and planning a trip for the fall. Always good to read to your posts.
Sweet pic -- thanks!
GLTY ... nice siggy
RailPower voluntarily delists from TSX
2009-04-07 17:24 ET - Shares Delisted from TSX
TSX bulletin 2009-0442
The following trader note was released by the Toronto Stock Exchange on April 3, 2009, at 9:09 a.m.
The common shares will be delisted from the TSX at the close on April 6, 2009, at the request of the company. In addition, the company's common shares have been suspended from trading effective immediately.