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A friend of mine emailed this FCCN info to me this morning. Thought I'd share it with the board:
Recently they changed their hosting service to a different company called Millennium Systems Inc. www.nextmill.net If you do a WhoIs on www.FranchiseCapitalCorp.com you will get all the contact info, including Edward Heisler new email and new phone number. To me this shows that they are doing something so it's a good thing! :) I think they are going to have a good looking website up and running very soon since they are taking all this time to perfect it. *wink* :)
Domain Name: FRANCHISECAPITALCORP . COM
Reseller..............: PlanetDomain
Created on............: 19 Jan 2005 20:11:14 EST
Expires on............: 19 Jan 2007 04:11:02 EST
Record last updated on: 19 Jan 2006 05:24:47 EST
Status................: ACTIVE
Owner, Technical Contact:
Franchise Capital Corp
Maria Hizon (ID00165622)
420 McKinley Street
Suite 111-169
Corona, CA 92879
United States
Phone: +1.9092382241
Email: maria @ hizon . net
Administrative Contact, Billing Contact:
Franchise Capital Corporation
Edward Heisler (ID00227593)
8655 E. Via De Ventura
Suite G-212
Scottsdale, AZ 85258
United States
Phone: +1.4803558142
Email: eheisler @ franchisecapitalcorp . com
After my digging around today, my sense is that the nozzles have recently arrived and the acquisition could happen as early as next week.
I just bought some more BESV at 1.13. What the heck, it may not be this cheap much longer.
Keep an eye on it in the coming weeks.
Check BESV. 50 and 200 day avg. crossed a few days ago and it has been slowly creeping upward for the last couple of days. Two different pieces of potentially big news is expected soon. Here's the chart:
http://stockcharts.com/h-sc/ui?s=besv
My understanding is that the acquisition was targeted for this month some time. I don't know about the nozzles.
Good thoughts, ODINHOUSE. I see that we've just surpassed 1.08 for the third time in recent weeks. We're at 1.14 now with the bid at 1.10 and 3 more MMs on the bid at 1.08. Surely 1.08 will be strong support if we close today above 1.08. JMO.
1.08 should be support. We've trudged through it twice of late going up to higher levels. We'll see if it holds.
BESV seems now to be moving up gradually and correcting as it goes. This a good way to move, IMO. The high today was a penny higher than yesterday and the close was .04 higher. I feel that progress with the rig and the acquisition going through with good terms and $2 will soon be in our rear view mirrors. AMEX listing and check the rear view for $3. A year later we're looking at $6. JMO.
plaintif, are you still holding pretty heavy? I have the most BESV I've had after buying more yesterday.
I talked to him late last week and as I remember he did not state a specific time frame. My impression was that it would be fairly soon(maybe a week or less). He may know more now.
Looks like Blast has now cleaned the cobwebs out of the closet. Should make for uninhibited progress as far as the SEC goes. JMO. Here's the release:
Blast Energy Services Resolves Claims Arising From SEC Investigation
Wednesday July 26, 8:25 am ET
HOUSTON, July 26 /PRNewswire-FirstCall/ -- Blast Energy Services (OTC Bulletin Board: BESV - News) reported today that the Securities and Exchange Commission (SEC), as part of an agreed resolution of claims against the Company, has filed a civil complaint, consents, and proposed judgments against the company and two individuals in the US District Court for the Southern District of Texas. The complaint and proposed judgments resolve the SEC's formal investigation relating to the Company's reporting practices and public statements made in 2003. Without admitting or denying the allegations in the complaint, Blast agreed to a proposed final judgment that includes a permanent injunction against the Company from violating Section 10(b) of the Exchange Act of 1934 and Rule 10b-5 thereunder. The proposed final judgment does not assess any civil penalties against the Company. This settlement is subject to the approval of the court.
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Since December 2003, the Company has taken several steps to address issues related to the SEC's inquiries, including the termination and replacement of the previous CEO and COO. Two directors have resigned from our board and we have appointed a new CFO. The Company strengthened internal controls overall, particularly with respect to the public release of information and the recognition of revenue. The Company also conducted an internal investigation of the matters of concern to the SEC. As a result, the Company restated its second and third quarter financial statements from fiscal year 2003 to reverse all revenue related to the aforementioned period.
About Blast Energy Services, Inc.
Blast Energy Services, Inc. is a publicly traded company based in Houston. Our mission is to substantially improve the economics of existing oil and gas operations through the application of our worldwide licensed and proprietary technologies. Using specially fabricated mobile drilling rigs, we intend to operate a commercially viable energy service business, including: specialty casing cutting, perforation, fracturing services, and lateral drilling with the potential to penetrate through well casing and into reservoir formations to stimulate oil and gas production. This service should provide oil and gas producers with an attractive, lower cost alternative to existing well stimulation or horizontal drilling services. Additionally, we provide satellite communication services to oil and gas producers. This service allows them to monitor and control well head, pipeline or drilling operations through low-cost broadband data and voice services from remote operations where conventional land based communication networks do not exist or are too costly to install. Please visit our website: www.blastenergyservices.com .
Source: Blast Energy Services, Inc.
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JEFF may be representing new buyers that read about BESV on herdonthestreet.com.
I'm excited that the Dept. of Energy is showing serious interest in employing our new rig. I'm looking forward to further developments and I'm particularly intrigued by the acquisition, which I believe will propel us to the AMEX in the fairly short term.
I read the front page summary, but then clicked over to the interview text. It's more informative. Here's the link:
http://herdonthestreet.com/protected/FeaturedCompanies/BlastFeature.htm
Thanks. This is great news. The customers are lining up for the specialty bore perforation services(especially Dept. of Energy's Teapot Dome in Wyoming). Now, we're working on the lateral jetting into the well process. We seem to be getting there one step at a time. This is also good publcity and should draw more investors from herdonthestreet followers. Here's the link:
http://www.herdonthestreet.com/
I'm hopeful of good drilling results, as well, but just as interested in the acquisition. I'm pretty well loaded up for whatever comes. Good luck to you.
That's the way it looks, however It could be that some will want to load up in the next hour before next week. I bought a little more at 1.04.
Yeah, the big blocks and volume prompted me to pick up some more at 1.06.
I talked to Johm MacDonald yesterday, but couldn't get a definite read on the situation. He said the rig was in the field and all systems looked good but he did not, as yet, have the results of a lateral drilling effort. He wasn't sure if they had attempted that part of the drilling effort at that time. He did say they would probably have a release next week. He noted that other companies are lining up to have the rig drill for them. I got the impression that he wasn't worried about the rig being successful, although some tweeking might be necessary from time to time. Also, sometime in August is still the target date for something to happen on the acquisition. If the acquisition takes place, this should make it easier to get on the AMEX exchange. This is the impression I got from the conversation.
Agreed. When they're done and a couple of good things happen such as the rig being successful and/or a definitive agreement on the acquisition, we should be off and running.
BESV has moved nicely Friday and today. Expectations of a big acquisition and the new mobile oil rig to soon be going into the field appears to be the force behind the move. If either of these two things occur, it could be big. If both occur, it could be really huge.
Good news. Thanks, sado.
Could be, I don't know. I couldn't pull the trigger fast enough today at .90, but did pick up some more at $1.00 toward the end of the day. I'm hoping the trip down to .90 was just one of those mini-takedowns before good news hits and an nice rise occurs. I believe $1 will soon be considered very cheap.
My understanding is that the new rig will test again next week. I'm told they will begin Monday. The stock price is holding up well.
Good point, veri. I own some NGSY also. Come to think of it, they might be wise to invest some of their $50 mil into the Blast acquisition.
I heard one rumor that Blast hoped to close on the acquisition in early August. I hope that works out with favorable terms. It would be big, IMO.
Here's an excerpt from the June 7 PR that states the rig will be deployed for evaluation in about two weeks from that June 7 date:
Within two weeks, Blast Rig #1 is expected to be deployed on a private well location to fully evaluate the effectiveness of the repairs made to the rig's coil tubing delivery system. After this shakedown process, the rig is expected to return to the Many, Louisiana well location in order to complete the job for Oracle Operating LLC and demonstrate its lateral jetting capabilities. After this point, the rig will be ready to commence its commercial deployment with new customers.
You're right. VRDM is hot!
BESV is consolidating nicely. If the acquisition goes through(which I believe it will), it seems as though much of the risk is taken out and an AMEX listing will probably occur, IMO. The present pps looks cheap to me. I've noticed UBSS, in particular usually raises their bid in the afternoon. They started today in the morning and now NITE has raised them and UBSS following by matching the high bid. It wouldn't surprise me to see a bump up to around 1.08-1.10 today.
NEWS!
EU Energy Announces Results of EGM Held 15 June 2006
Thursday June 15, 12:23 pm ET
IRVINE, Calif., June 15 /PRNewswire/ -- EU Energy plc ("EU Energy"), a UK based alternative energy company, is pleased to announce the approval of a motion put before its shareholders to convert EU Energy from a public limited company to a private limited company and to change its name from EU Energy plc to EU Energy Ltd. The motion was passed at an Extraordinary General Meeting of its shareholders ("EGM") held today in connection with the proposed sale of EU Energy ("EU Energy Sale") by its shareholders to Composite Technology Corporation ("CTC"), a US based public company (OTC Bulletin Board: CPTC - News).
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A Share Exchange Agreement governing the EU Energy Sale was signed by shareholders of EU Energy representing at least 95% of its issued and outstanding shares on June 5, 2006. Under the terms of the Share Exchange Agreement, with the favourable decision at the EGM, it is now anticipated that the transaction will close on July 3, 2006. Any dissenting shareholders will transfer their shares in accordance with the terms of certain "drag along" rights. It is now anticipated that the entire share capital of EU Energy will be transferred to CTC in exchange for 39,169,665 shares of CTC's unregistered common stock.
As a prelude to the holding of the EGM, EU Energy was informed by CTC that they had completed their due diligence review and received a favourable fairness opinion regarding the transaction.
Mr. Wilcoxon commented: "We are convinced that the potential of the EU Energy wind turbine business is enormous. Our board of directors was unanimously of the opinion that EU Energy's DeWind turbine technology is excellent and is pleased that the acquisition will proceed as planned."
The sale of EU Energy to Composite Technology Corporation was announced by EU Energy at the WindPower 2006 conference held last week in Pittsburgh, USA, also announced was that EU Energy group had entered into a frame agreement with Canadian Green Power Investment & Management Services Inc. for 60 turbines, representing a sale of approximately $120 million, for delivery commencing in 2008.
Michael Porter stated that "we are now in the process of completing the necessary component supply contracts to support manufacturing against our current reserve backlog, which now exceeds $2.9 billion through 2012" and he further stated that he is looking forward to the next stage of the corporate development afforded by the sale.
About EU Energy plc:
EU Energy plc (www.eunrg.com), is an alternative energy group based in Milton Keynes, UK. In July 2005 it acquired DeWind GmbH from FKI plc in the UK. Since this acquisition, it has developed the market for DeWind turbines worldwide, and is poised to enter the market in the U.S. and Canada with the new D8.2 60Hz 2 megawatt wind turbine. EU Energy plc markets the DeWind range of products (1.25 to 2 megawatts) worldwide, including India, Eastern Europe and certain niche markets. EU Energy plc usually prefers to establish assembly plants in its local markets. EU Energy plc markets other products including its Aeolian Wing(TM), a patented rooftop product and part of a family of Aeolian Planar Concentrators(TM) designed to accelerate the wind flow through a wind turbine. This product has demonstrated a more than 200% increase in energy yield from a turbine. EU Energy plc's focus is on commercializing technology for alternative energy using existing and acquired technology to bring new products to market economically and at the earliest opportunity.
Please visit the website http://www.eunrg.com
About CTC:
Composite Technology Corporation, based in Irvine, California, develops, manufactures and sells novel products that introduce the advantages of high performance composite materials to create superior applications for the generation, transmission and distribution of electrical power. The company's novel and proprietary Aluminium Composite Core Conductor (ACCC) is a cost effective solution for the introduction of reserve electrical transmission capacity into a saturated electrical grid, while reducing operating costs and in many cases capital costs. The elimination of significant sag at higher operating temperatures allows users of ACCC to reduce transmission bottlenecks, span large distances, reduce supporting structures and improve grid reliability. ACCC is superior to conventional conductors of the same diameter in many ways, including:
* Replaces existing steel core conductors and increases energy capacity
up to 2 times
* Virtually eliminates sag caused by high load, high temperature
conditions
* Requires fewer structures along new Rights of Way, reducing
construction time and costs
* Reduces line losses compared with same diameter conventional cables at
same operating temperatures
* Eliminates any bi-metallic corrosion issues
Please visit the website http://www.compositetechcorp.com .
Source: EU Energy plc
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If CEAT does acquire FCCN, I would think that we need to get as good of exchange rate as possible. Therefore, if CEAT's pps would keep coming down and FCCN could rise some, we would probably get more share in the exchange. Just thoughts.
Good thoughts, plaintif. I like the $10 target.
I also heard that this was an acquisition of substance worthy of regular financing, thus no need to dilute. I hope this is true and we get good terms. I did hear, though, that it could be that the seller may want at least part of the payment in stock. If that's so, it indicates that the seller believes in the future of BESV. I also heard that this could close in around two months, or maybe that was in the PR. I don't remember. Anyway, I'm glad to have a good amount of stock at this time. I recently bought more in the .50s, .60s and .70s. Also, bought some Thursday at .92. Good luck.
Keep in mind here, that the eventual objective, as I understand, is for BESV to become a big company with many rigs generating revenues and profits in many places. I believe two more abrasive jet rigs are planned for the near future. I see the big picture as representing big profits down the road in an huge demand market. The multiplication factor(many rigs X solid revenues and profits) will be our friend, IMO. The stock is presently holding up well and appears,IMO, to be positioning for another lift. The end of day bid Friday was up something like .07 from the day before. I'm looking forward to seeing how we do next week.
They will probably be acquired by CEAT. Just my opinion.
That's what I'm thinking. The pps held up very well yesterday in light of the quick runup in the past two or three days. It may linger in this range a bit, then move up as we near completion of the acquisition and the new rig being deployed. Just my opinion.
The number of rigs I'm told is 5 along with the crews to operate them and an expected revenue of $7,000,000 per rig per year. I think the PR stated that we had a two contract included. This is looking good, IMO.
My source outside the company tells me that if this deal goes through that it will expedite BESV going to the AMEX because of the immediate revenues to be incurred with the deal. With this in mind, I would think the present pps is a bargain.