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from page 12 of 10k in reference to Technest:
"As of September 2013, we owned 22 U.S. patents and have one patent pending"
This should clear up any question in regards to the patented 3d tech.
NXTD, the company who licenses Technest patents went public on 8/16/2013 and is currently trading at $4.20, up 420% from its IPO price of $1.00. < http://seekingalpha.com/instablog/776842-investorideas-com/2150012-3d-facial-recognition-mobile-biometrics-stock-nxt-id-inc-otcqb-nxtd-closes-up-73-percent >
IMO* since the only financials we have are through 6/2013 it does not include any licensing rev they will receive from NXTD who uses some if not all of their patents.
The tech that is listed in the ACLP 10k are the same products flaunted on the NXTD website. Do the math.
Marathon for me, not a sprint.
In order to complete the merger they needed their financials audited by SEC. These are the *SEC audited* financials year ending 06/2013. Its showing the same financials as the one released in early jan with an additional quarter. The report does however show updated company direction with both the ACLP pathology services and Technest 3d tech. The next step should be the audited financials of EIP. Haven't read every word, if I see anything else i'll post.
Just glad to see something after the lull. Lets get this rally started!!
EDIT: Just to clarify for those who might be unsure, the unaudited financials were released in Jan which were reviewed and signed by Gil. Then the new CPA was brought in and those financials were reviewed by this firm which is licensed to provide SEC audits.
>>IMO<< there were obvious issues with the company as a whole. They are slowly putting the new pieces into place. It feels like the CPA change was in the plans the entire time as they are bringing in the people of their (EIP) choice. To me its a good sign, in with the good out with the bad. I am of course an optimist, if you couldn't already tell. We shall see. GLTU
The new CPA as per January 8k:
John Scrudato CPA
Auditor
1027 Hooper Avenue
Toms River, NJ, 08753
>>>From NJ Department of Consumer Affairs:
Name: JOHN SCRUDATO
Address: CALIFON,NJ
Profession/License Type: Accountancy,Certified Public Accountant
License No: 20CC01509700
License Status: Active
Status Change Reason: Reinstatement
Issue Date: 11/1/1986
Expiration Date: 12/31/2014
NO Board Actions. For more information contact New Jersey State Board of Accountancy - (973) 504-6380
Here is his website: www.scrudatocpa.com
an excerpt from their website:
SEC Audits
John Scrudato CPA of our firm focuses on serving publicly traded small-sized and emerging-growth companies. Audits are specifically designed for those companies with consideration for their internal controls, systems and personnel.
The audit approach used, is designed to minimize business and audit risk associated with the audit process of public entities by maintaining high quality client acceptance standards and policies designed to seek out relationships with company management who have a high degree of integrity and competence, and where there is a balance between the likelihood that the business will succeed and the risk assumed by the investors.
John Scrudato CPA continually keeps our clients informed of the latest SEC and FASB developments, and maintain an active involvement with audit committees to ensure their involvement throughout the audit process. As a registered firm, we are subject to the rules of the PCAOB, including its periodic inspections of our firm.
Non Audit Services Available
The type of services we provide to our non-audit registrant clients include:
Outsourced Accounting Department Service
Preparation Of 10-K/10-Q Financial Statements/MD&A
GAAP Research
SEC Comment Letter Response Assistance
Sox 404 Internal Controls Documentation & Testing
Outsourced Internal Audit Function
Tax Compliance
FAS 109 Tax Provisions/Deferred Taxes
FIN 48 Tax Position Analysis
Mergers & Acquisitions Due Diligence
FAS 141/142 Valuation of Goodwill and Intangibles
FAS 144 Impairment Analysis for Long-Lived Assets
Purchase Price Allocations
Service On Audit Committee As Financial Expert
The connection they have is EIP purchased ACLP ticker rights from Southridge meaning Southridge is OUT and EIP is IN. I'm sure they received some sort of benefit from the sale as in a small stake or preferred shares but despite the fact is they are not in control anymore nor will they have any adverse effect on the SP. I'm sure they will slowly but surely get Southridge out of their program.
>>>from the 10.28 PR:
"Energy Innovative Products, Inc. (EIP) entered into an agreement to acquire AccelPath, Inc. (OTCPK:ACLP) from Southridge Partners II, LP, a fund of Southridge LLC and others in a reverse merger transaction on October 24, 2013. It is expected that the equity holders of EIP will become the holders of approximately 76% of the total outstanding capital stock, on a fully diluted basis (>>>WHICH ALREADY OCCURED IMO<<<), upon completion of the transaction. Management of EIP will become management of AccelPath upon completion of the transaction. A majority of the Board of Directors of the post-merger company will be represented by persons associated with EIP. The transaction is subject to necessary shareholders approval from both the parties. The transaction will be undertaken in two steps. In the initial step, AccelPath acquired 19% stake in Energy Innovative Products, Inc. in return for 3,500 shares of a newly created Series I Preferred Stock of AccelPath on October 25, 2013. At the final closing of the transaction, AccelPath expects to change its corporate name to reflect the business operations of EIP. The transaction is expected to complete within 120 days from the date of announcement."
Any guesses on the new Symbol?? These are taken already:
EIPBX Eaton Vance Parametric Balanced Risk Fund
EIPEX Eaton Vance Parametric Emerging Market Core
EIPNX Eaton Vance Pennsylvania Limited Maturity Muni Incm Fd
EIP Eaton Vance Pennsylvania Municipal Bond Fund
EIPAX Eaton Vance Pennsylvania Municipal Income Fund Class I
EIPC Enable IPC Corp.
EIPAF ENI S.p.A.
EIPCX Parametric Commodity Strategy Fund Institutional Class
EIPSX Parametric Currency Fund Institutional Class
EISAX Eagle International Stock Fund - Class A
EISDX Eagle International Stock Fund - Class C
EISIX Eagle International Stock Fund - Class I
EISRX Eagle International Stock Fund - Class R3
EISSX Eagle International Stock Fund - Class R5
EISVX Eagle International Stock Fund - Class R6
EISMX Eaton Vance Atlanta Capital SMID-Cap Fund Class I
EISGX Eaton Vance Small-Cap Cl I
EISCX Eaton Vance South Carolina Municipal Income Fund
EISEX Eaton Vance Special Equitites Fd Cl I
ESALF Eisai Co Ltd Ordinary Shares
ESALY Eisai Co Ltd American Depositary Shares
EIS iShares MSCI Israel Capped Investable Market Index Fund
EISTX Massachusetts Investors Growth Stock Fund
EISXX WFA Municipal Cash Management Money Market Fund Svc
EIP Leadership from their website:
John Orr, CEO
I could not find any solid info on this guy. Name is too common and/or he hasn't publicly associated himself with the company yet. He seems to be hands off as CEO, probably providing connections/experience. As for the rest of the crew, they each bring a different dish to the table which looks like the making of a great meal.
Scott Caputo, President
Experience
President
Energy Innovative Products, Inc
August 2008 – Present (5 years 8 months)
President
Whitehouse Partners
July 2003 – July 2008 (5 years 1 month)
>>>He was quoted in PR about acquisition of EEG stating it was going to be first of many synergistic acquisitions. He seems to be longest standing leader of this company and will spearhead all action.<<<
Gary Weiss, COO >>>I only included current endeavors but he has long history with good companies.<<<
Chief Operating Officer
Energy Innovative Products, Inc.
December 2013 – Present (4 months)Greater New York City Area
Energy Innovative Products, Inc. provides a comprehensive range of energy solutions, using leading proprietary technology. EIP designs, develops and markets products which reduce energy usage in Ice Machines, Freezers, Coolers, Refrigerators and other AC induction motor applications. In addition, EIP provides energy audits, retro-fits, and price savings in energy supply of natural gas and electricity. Energy Innovative Products, Inc. is currently in the process of securing additional rebates for its patented technology from major U.S. utilities. For more information check out our website at http://eipsave.com/.
Partner
Valeo Partners LLC
November 2002 – Present (11 years 5 months)
Founded strategic consulting and advisory firm assisting companies from startup to Fortune 500 size.
Strategic Consulting practice includes business plan & sales strategy development.
Advisory practice works with new businesses on formation of corporation and business structures, drafting privacy policies and structuring commercial transactions and active participation in board and senior management level decisions.
Pharos Systems International--Board Member
Pharos Systems International
December 2002 – Present (11 years 4 months)Rochester, New York Area
Pharos Systems is an enterprise print management services firm specializing in the management and strategic sourcing of print.
I have been a member of the Board of Directors since 2002 when an investment group purchased a majority stake. Through a combination of strategic organic growth and bolt-on acquisition, the company has grown 1000% since the acquisition. The company is currently exploring growth and/or liquidity opportunities.
Board Member & Secretary
Nassau County Industrial Development Agency
February 2002 – Present (12 years 2 months)
The Nassau County, NY IDA provides businesses incentives to relocate or remain in Nassau County. By statute, the IDA can provide benefits and financing for industrial, manufacturing, non-retail commercial and residential projects. The primary criteria is that the project is beneficial to the people of the county.
I am the longest current standing board member, having served under 2 administrations and political parties.
Nasim Ali, CMO
>>>COULD NOT LOCATE ANYTHING SOLID<<
Robert Holdsworth, Head of Energy Saving Services
President
Energy Edge Technologies Corporation >>>EEG<<<
January 2003 – Present (11 years 3 months)
I created and launched Energy Edge Technologies Corporation to help facilities—from industrial plants to government institutions to commercial properties—meet the demands of rising utility costs and sustainability mandates.
As the firm has grown and its technological approaches have advanced, the mission has stayed the same: To make the process of reducing energy bills and improving the environment an affordable, risk-free and straightforward process.
>>>THIS SEEMS TO BE THE COMPANY THEY ACQUIRED EEG. IT IS A REAL COMPANY AND THE PRESIDENT HAS JOIN THE EIP LEADERSHIP AS WELL. IF HE WAS WILLING TO SURRENDER OVER 1.2 MILLION IN PIPELINE REV IN JUST 2 MONTHS FOR A CHANCE TO JOIN EIP THEN THERE MUST BE SOMETHING WORTH IT<<<
Zachary Ali, VP of Strategy & Operations
Greater New York City Area
Renewables & Environment
Previous
Keefe, Bruyette & Woods,
Bank of America Merrill Lynch,
Dealogic
Education
Columbia University in the City of New York
>>>THESE ARE THE PEOPLE YOU WANT TO BE TALKING TO, NOT GIL<<<
in January (don't fee like looking up dates) both a 10q and an 8k released. The 10q was the financials from last year which were reviewed and signed by Gil stating their legitimacy and the 8k was a notice stating they changed accountants (prob to one of EIPs choice). Not sure how that doesn't show obvious progress to you never mind the strategic increase in OS to be exactly what they stated in PR for EIP. I feel your doubts but they are dwarfed by facts. GLTU
You have to understand that Gil was brought in to facilitate this RM. He had both exp and connections to get done in timely manner. Management of EIP(S) will become Management of this new company, whatever the symbol change will be. Gil will take his money for a successful transaction, be gone and prob will never deal with this comp again. EIP(S) will be in full control and YES they are a real company. I have done DD on most of their execs they list on their website and they are businessmen with good to great backgrounds. On their website they do not have a contact number just a form you can fill out if you have any questions or concerns. Any questions you have from here on out most likely a)can't legally be answered or b)is a waste of time for them which is why there is no number listed. When the next PR or financials come out, whenever that may be, I'm sure most of your questions will be answered. Until then, grab cheapies ACLP
There was an 8k filed on Jan 15.
They have a lot to do to roll out this R/M including a symbol change, SEC audited financials for both ACLP and EIP(S), OS change (which seems to be done with) and whatever other BS needs to be taken care of.
That being said, the lack of communication to the shareholders is frustrating but it does not lead me to believe there is an issue with the transaction. The 770 million shares diluted is a solid fact they are moving forward with the RM and it is near its completion.
Those looking for a quick buck, take your profits. These few ticks up and down right now are going to be meaningless when the company reveals financials and future plans.
ACLP
great accumulation this today. Have a good weekend all. Congrats to those who grabbed 6s and 7s today.
Lets go ACLP
Waiting patiently for this to develop. Keep grinding Gil!
you can say whatever you want but why are you wasting your time posting here? and if you do have a position why are you bashing your own investment? I think that's the point trying to be made. Doubt much shorting is taking place as news can drop as day now. >>GLTU<<
That occurred prior to Gil's Tenure. The prior CEO did a number on this company and failed partnerships is prob just one of many things that were going wrong. Also, I'm sure it was one of the main reasons Gil was brought in. To get transactions like that through and grow this company out of the shadows. He got a R/M and an acquisition through in less than 6 months. He is good at his job and one of the reasons I have a larger (on my scale, which can't hold that much weight) position here.
We shall see what happens. GLTA ACLP
It is for real. I believe the stock price was manipulated to bring it down to the bottom so they could dilute enough shares to give EIP/EIS 76% of the O/S. Also, this was the farthest thing from a pump, they stated a R/S in their PR which I'm sure is NEVER done when someone is trying to pump.
IMO they did a good job diluting and were very open about it prior to it occurring. It was a rough few months but people were able to average down significantly so if this does pan out, it was a win/win for both company and investor.
I still don't see the reason for the R/S and IMO* I feel they used this to relay info about merger and keep share price low so they dilute many shares quickly, efficiently and without ROBBING investors. I can see them come out with update, financials and a statement that their will be no R/S.
GLTA on ACLP
Boredom has set in for Chart players and or people who got in at the 5 to 7 area. Without any PRs or the financials this will sit. I am real anxious/curious to see how this plays out. ACLP
When this does hit, watch out. This moves quick.
quite the opposite, its about to be born. Just waiting for company update and/or financials. Could be any day but no longer than EOM. Feel free to read the sticky.
ACLP
it looks like a fake bid >>> either way its making this look good
hardly any selling anyway
we ask for news to shed some light and we get news which makes us more confused
guess a watched pot never boils
Level 2 is showing over 20 million on bid at 8, joey likey
nice bid support at 8
I agree but just an FYI PR stated they will own 76% of outstanding shares, not authorized. The OS went from 220 to 990ish which is dilution of 770 or approximately 76%. Numbers just add up IMO
But yes, at this point an update would be fantastic
I don't have proof but it just so happens the amount of shares diluted is 76% of O/S which supports PR statement. It's just my opinion
It says they own 76% of OS by dilution which seems to have already occurred. They will technically be subsidiary of Accelpath but ticker will reflect EIP. It appears they will be core of company
TBH the only positive plausible reasons that a R/S would occur here would be to increase PPS to make more appetizing for investors and/or to return the O/S amount back to it was prior to the dilution. A 4-1 split would bring the O/S back to around 250mln and a 5-1 to about 200mln, I cannot see it being greater than that. I would assume they would want this at .01 or more after the split which would mean this would have to hover around the .002 to .0025 range.
I have the feeling we will see at least 1 positive PR prior to the split as any "real" company would want the the price as high as possible prior to any such action.
All just my opinion
IMO this already occurred. There were approx 770 million shares diluted from when that PR was released increasing the O/S from 220 million to approx 990 million. 770 million is roughly 76 percent of 990. IMO this is too accurate to not be the dilution they are talking about. If anyone sees it differently please let me know.
I know this is sort of contradicts my last post about the dilution but just noticed this connection.
Excited about inevitable news coming soon. ACLP
Also wanted to touch on the dilution here which lasted a few months. There were 770 million shares diluted in a few month span mostly in the .0003 to .0005 range (guesstimating, will say an average of .0004). For a real company this is great. They cashed out over 300k, whether it was for paying down debt or utilizing for production of whatever product. This will def show on the bottom line. Or maybe that's just Gils paycheck lol
looks like this should gap up to 17 at open
merger/acquisition/financial news any day now.
get your tickets to the show before the curtains rise
Good to see you back fatty(lol) it was tough but held strong here. Long awaited news coming !!
and were back to 16x17
I'm waiting for the MJ twist here, "Energy Saving Hydroponic Systems" "Medical Marijuana Pathology Services" lol
PENDING MERGER NEWS COMING AS SOON AS TOMORROW
THIS WILL RUN HARD AS IT IS SO THIN
PENNY WORLD ON FIRE
hold your hats gents, this could move quick with nice merger news or a lengthy positive PR. so thin.
how bad did you short this??
GLTU
good to hear
FINANCIALS/SHAREHOLDER UPDATE coming ANY DAY NOW
ACLP$$$
BAYP << 16x17 getting slapped like crazy
you might not get 13s, 14/15 is a better bet. gltu
higher lows each round of churn, this looks great, setting up nicely for afternoon run
BAYP << MJ news, nice accum at 13, if 14/15 breaks, this could see .002
huge buys coming in, a 14 break and we move