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These are doable numbers for the production now underway. Our first ship is handymax in size, so we must start calling panamax-sized ships soon!
There is a glut of vessels all over the globe, but these deals are made not based on the location of the vessel, but based on price and availability. You are throwing out a red herring for whatever purpose you are here!!!!
And you realize that transit time to Ensenada from that point is about two weeks?
It may be time to refresh our historical perspective. Notice how many companies pumped in vigorous fashion have gone to trip zeroes!
http://investorshub.advfn.com/boards/Profile.aspx?user=229827
JoRok, I don't think you made a bad trade with CWRN! What you saw today was an orchestrated bear raid during which MMs took out stop losses unfortunate and foolish investors have put in place. You witnessed a classic. This board has been relatively free from bashers until the organized effort today. It is painful to watch, but if you have faith in the fundamentals of this company, buying would have been the proper action!
I am truly hoping you will go on to the next penny scam! You don't seem to get it! CWRN is operating in Mexico with a whole different set of laws and regulations. We will be fine, but you will continue to tell us otherwise!
I have to agree with your assessment. If this is a bona fide offer, why would the investors dumb it down so much? The red flags are endless. I would think they would want to display evidence of legitimacy. I suspect this is not the investors' first rodeo, and they have taken steps not to be identified, as amateurish as the steps seem to be.
What you fail to see is the difference between this buyout announcement, which Bob Cotton has declined, and the ones which you compare it to where the company actually announced they were selling contigent upon due diligence. HUGE difference! The SEC will have absolutely no problem with the way Bob has handled this!
There are a ton of red flags surrounding Freedom Network. It is highly suspicious at least, and maybe even fraudulent. However, I don't see anything sinister in Bob's announcing the offer, even as I think it was ill-advised to do so. This can of worms detracts from what the real story is...producing and shipping iron ore to customers willing to pay a bunch of money for it!
Cotton reporting a material fact, even if it turns out to be bogus, is not a deliberate pump by the company. I would be more concerned if Bob said he was accepting the offer.
I would feel better about Freedom if I could find them listed with FL Dept. of State. There are a few companies with similar names, but none seem to match:
http://www.sunbiz.org/scripts/cornamelis.exe
If that's a strategy, it is not working!
Fozzy, the website still shows it anchored near Galveston, but the info is from yesterday.
She's a pretty one!
I am surprised that you rely on a "report" from hotstocked.com! Do you not know what they do? They are an eastern European paper mill, paid to trash certain stocks. Have you ever seen them write anything positive about the companies they cover?
Any entity can buy some shares at the market price, but not all the shares needed to buy-out the company. By the way, when a CEO announces the offer in a PR, it is not a rumor, it is stated as a fact. Your choice is whether or not you believe what is stated.
Nisbo, you make some excellent points. Ship arrival will be a huge validation of Bob's promises. However, we should not have to wait until 3/17 as there are posters here who are capable of tracking the location of the Azuma Phoenix. She is now near Galveston, TX, and when we see her turn north after leaving the Panama Canal, I think even the doubters will become believers.
Regretably, the CE is very easily added, but very difficult to remove. Even though we know the reason it was added was bogus, its presence has at least one large brokerage house unwilling to allow clients to trade. That alone creates downward pressure on share price.
Bob's work is just beginning. While I am glad to see our first ship on the way, it is only the beginning of things that need to be done to make this the huge success it should become.
That sounds just about right for transit to Ensenada through the Panama Canal. I am a little disappointed that the ship is Handymax size, but those arrangements may have been made before the dredging of the port was completed.
You forgot to mention what they will do with the huge pile of ore that is stacked at the dock.
jmbar2, I don't believe our ship is listed on the schedule of arriving ships posted by puerto ensenada on 02/25. Open the link below and click on the Excel icon near bottom of page. This seems to be updated about twice a week; I would expect an update tomorrow.
http://www.puertoensenada.com.mx/English/incomingships.html
Not likely, Maesrk is a container shipper.
Perhaps if you read the press release more closely, you will see that they are not claiming to have worked with WIEC previously, but "individual members of WIEC". When you consider that some of the principals of TMSH have only recently come on board, can you see the possibility that individuals associated with TMSH may have previously worked with individuals associated with WIEC? The concept is pretty clear to me!
Hey, some of us only have couch cushion change left for buying! And then, some of those are partial fills.
Skyman, you are right about the importance of communication. However, most of us here think Bob Cotton does a good job of regularly informing shareholders. Monthly updates are more than most penny stocks get.
An attorney letter by itself will not be enough to remove the CE. The attorney letter is the last step in filing financials and certifies that the financials comply with regulations. Since Bob has not yet filed financials, there is nothing an attorney letter could say that would prompt pinksheets to remove the CE.
Bob has indicated that he will be filing financials in the near future, so your "debate" about CE is falling on deaf ears! No one cares at this point because Bob is prioritizing what is important to shareholders, producing and selling iron ore. The rest will come in time.
Totally wrong, mildtrans. Try some other trick!
You do realize the damaging evidence came from Verity and others. Jeff used it to oust the crook! Doesn't make him an insider!
I have a little experience with shipping bulk cargo, but by no means an expert. Bob has checked the quality of the iron ore before trucking it to the port. The buyer will hire an independent surveyor to check it before it is loaded onto the ship. Believe me, it won't make it over the rail without being checked to everyone's satisfaction.
WOW! You are saying that Jeff told this story to someone? Not likely! But it is something you would like people to believe!
By all means, please share the answer with all of us!
Nice job of putting words in my mouth! I said neither of those things nor did I imply them! You should read my follow-up post for clarification. I agree with you that the reliability of prior PRs has been more than suspect. I merely point out the difference in accountability between the two types of statements.
Regretably, #2 cannot be done instantaneously...it is in progress and will happen when the court is ready to issue it. Then #1 and #3 can be implemented!
I am making no judgments in my post. I am saying there is a different standard of accountability in the two types of statements. Truth or not, it is difficult to hold anyone accountable for what someone else quotes.
Statements quoted by a third party (the reporter) are hearsay! Statements in a PR are first person and can be relied upon!
It will end soon, my friend!
SJO, you raise some interesting questions. However, I believe question #4 may be answered in this manner: most corporations have in their bylaws instructions for filling vacant BOD seats, and it is usually by appointment. Appointed directors serve until the next shareholders' meeting when they have to stand for election. Since we never have shareholders' meetings, this seems to be a lifetime appointment. Shareholders never vote to approve CEO; that is the domain of the BOD in virtually all corporations! All of this is IMO!
Centaflix is a private company. They are under no obligation whatsoever to provide the public with any information!!!! Due diligence requires that you make inquiries if you want to know about that company.