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.
I do not think any investor ppost on ihub really effect the pps much. So, good luck and maybe you can get those cheap shares. Personally, I would love to add more shares in that price range but we should be the pps move up just a little on speculation that Xtend Medical can resolve this situation soon.
I have to agree with you on that statement. I did a little reading on "security interest" on patents. It is actually a good way for companies to help finance the legal bills without using capital or toxic financing. It was a recommended strategy for companies in general - especially when the patents were solid enough for a solid law firm to sign off on it. That alone tells us something. The boys checked out the Bio Harp patents, science, and our legal positin with Sam before they agreed to represent Paul in court. This is a good thing. Not saying that xmdc is 100% risk free but it helps to see solid support from a top notch lawfirm that also believes in the future of the Bio Harp.
When this stock is discovered, it will be too late for cheap shares. It will happen that fast - she can see dollarland in seconds.
Nice to see some early morning volume. We just need to knock out a few sellers to get the party started. BLVE is all about connecting the dots.
Lee could have easily had a put an anti-dillution statement in the agreement. However, he did not. Paul was the acting CEO for Xtend Medical and he had every legal right to change the corporate structure. He did not have to give us an explanation or Sam Lee. Sam Lee trusted Paul's judgement enough to take stock as payment for the Bio Harp assets over a year ago. Sam Lee is just playing this share structure change because it is the only defense that he can come up with in his desperate effort to cover his own guilt. It is simply not going to work. It is not going to matter if Sam Lee, the judge, the shareholders or all of South Korea hates the share structure change. Ever heard the saying "get it in writting"? Oops - Sam Lee forgot the anti-dillution clause. Last time I checked a ceo can make important corporate decisions and anyone that does not like it can just fill out a job application for the position and hope they get hired for the position. Maybe Sammy boy should have been a little more involved with taking the Bio Harp to market and Paul would not have been put in this situation. He said numerous times that he did want to raise the A/S. But it looks like he has been doing a lot of things he has not wanted to do for the last year. But make no mistake - Sam is desperate and his pencil was just not sharp enough to perform a hostile take over of Xtend Medical. I bet Sam would have loved to have that vote on making his guilt disappear by dropping the lawsuit. Even the judge questioned who was in control of Xtend Medical. Sam created a really big smoke screen with that stunt but the smoke will settle soon and it is his rear end that he will he will smell burning in the court room. In fact, he will not a Bio Harp to detect that inflammation.
I could not see it taking very long. Based on my dd, Socal was created to own PBB. When the capital patners had to pump 12 more million into PBB they made an agreement with the federal reserve not to issue any more stock and other things because of the debt from PBB and Socal had debt as well. Due to the fact the capital parteners own Socal, they also own the debt. The logical thing to do would be pay the debt off with some of the merger proceeds and Bam!!!!!!! Our stock is back in play.
The pr stated that socal only got 3 percent to pay its creditors. That is a true statement but it was all owned by the Bel. Capital Patners. They will have to pay everything off and it is their best interest to put the low float stock back in play with the now much stronger company in place. The timeline is a unknown because they must have everything approved by the federal reserve. The good news is that this will not be a shell game to make the ceo rich and we do not have to worry about dillution. This stock will go crazy with buying pressure. The float can easily be absorbed by the people connecting the dots long before the news is released. My guess is about 30 to 60 days. But it could be sooner. One thing about it, if they put this stock into play with the new company it is going to multi dollar land in seconds. I am just not sure what hoops they will have to jump through and how long it takes. I am going to pick up some more cheap shares and hold out for the game changing pr. The payoff could be second to none when they wrap this up.
They were having financial problems back then due to PBB failing to make payments. The owners had to pump more cash into PBB. Now PBB is part of a huge merger. Will Socal stock come back into play? I think so. They could not use Socal as part of the initial merger deal because of federal reserve restrictions due to an agreement. Now it is just a matter of them getting it free by paying off the debt. Keep in mind that it is all owned by the same capitsal partners. When it happens, this stock will skyrocket in seconds. The 1.00 pps ask last week will look cheap when they bring this stock back into play. Make no misrake, it is not a shell game or your typical pink sheets deal. These boys report to the federal reserve and they must play be the book.
I remember the other day when the ask was on 1.00pps. There are not many shares for sale and it will not take much to see it happen. I do not know that we will see a filing under Socal concerning the assets. Belvedere Capital Parteners has majority control of Socal. The 97 percent cut of the new merger will go to them. However, it would only stand to reason that flows into Socal in one form or another. Socal was originally formed for the sole purpose of owning PBB. They have a low float stock that they still own and there is really only one move for them to make. They pay off the debt that Socal owes (partly from PBB) and this should help clear up the stock becuase keep in mind this is all regulated by the federal reserve. Belvedere is NOT playing shell games with us. Banking is heavily regulated and our little penny stock is in the middle of a HUGE merger with Professional Business Bank and California General Bank. The owners of Belvedere Capital Parteners own Socal, PBB, and the Belvedere fund. They should have every interest in seeing Socal stock reap the reward in the end. We do not yet know how all this is going to take shape. Rest assured when it happens, the ask will take a jump that will make the other day look silly. No cheap shares when everything changes. It will happen just that fast based on my DD.
A few ask smacks and this will fly. Low float stock in the middle of HUGE bank merger. We know the company is NOT selling shares because they have an agreement in place with the federal reserve not to raise capital by dillution without their written consent. This stock will go crazy with more buying pressure. It is just a matter of time before we find out how this all plays out but it will be too late for cheap shares when that news hits the market. All of the compaines on this end of the deal are owned by the same people. Tick tick. Looks like when all the cards fall that the pps will take an immediate upwards correction. It was a 20.00 stock at one time and the only thing that has changed is the company that owns it just become much stronger with the latest merger.
I guess this is where our 97 percent slides in the backdoor. Belvadere Capital fund II was set up to be the majority share holder in BLVE many years back when Belvader capital patners set up the deal to aquire PBB and create Socal at the same time. It would stand to reason that the 97% cash and securities from the new merger news would go back into the publicly traded company that they still hold a majority interest.
From 2007
Professional Business Bank shareholders who voted were overwhelmingly in favor of the transaction with over 99% of votes cast in favor of the transaction. Professional Business Bank shareholders electing cash in the transaction will be subject to the proration provisions of the merger agreement. Belvedere Capital Fund II L.P. and former shareholders of Professional Business Bank now own approximately 56% and 44% of Belvedere SoCal, respectively
There will be nothing standing in the way of 20.00 pps because they can not dillute one single share per an agreement that was made with the Federal Reserve because of some debt ealier this year. The merger was the best fix to take care of the debt and get Socal or should we say Belvedere Capital Partners LLC or should we say PBB back on track. This merger was not about stock or the normal dillution game that most Pinkys play. It was about banks joining forces and it is HUGE. Notice part of the agreement below concerning Socal stock. The federal reserve does not play around. The merger was approved but no one from Socal can dump shares. My theory - probably the reason for the 1.00 ask. It is going back up faster than any other penny play I have seen. Just a matter of time before everyone connects the dots. I think some of the big boys have been loading shares this week because they understand all this stuff better than pinky land investors.
Debt and Stock Redemption
3. (a) Belvedere and any nonbank subsidiary shall not, directly or indirectly, incur, increase, or guarantee any debt without the prior written approval of the Reserve Bank. All requests for prior written approval shall contain, but not be limited to, a statement regarding the purpose of the debt, the terms of the debt, and the planned source(s) for debt repayment, and an analysis of the cash flow resources available to meet such debt repayment.
(b) SoCal shall not, directly or indirectly, purchase or redeem any shares of its stock without the prior written approval of the Reserve Bank.
It is just a little confusing with one bank holding company holding another and then another. Socal stock went into the toilet because of Professional Business Bank defaulting on a note.
So the holding company that owns Socal pumps money into PBB and we lose 97% interest over the summer. However, we were both owned by the same company and their last fund was backed by some of the biggest banks in the industry. They just frowned on PBB back then and it dropped our stock. Debt has a way of doing that. But this merger is HUGE news and I hope that the pps should see a full recovery back up to the 20.00 range and beyond. It is really going to be up to Belvedere Capital Partners II LLC. They own everyone involved in this end of the deal - Socal, PBB, and Belvedere Capital Fund II, L.P. Our little penny stock in the middle of a huge bank merger. I just do not think that most investors that read the pr undersood that it was all the same company. Perhaps they thought Socal just got a 3 percent cut to pay the guys with baseball bats looking for cash. Even looking back on the aquisition of PBB back in 2007, the pr looked like two different companies purchased them. Far from the truth, we are all in one and a now a HUGE merger has taken place.
In fact they both purchased Professional Business Bank back in 2007. But they are both the same (WHEREAS, Belvedere Capital Partners II LLC, San Francisco, California ("Capital Partners") is a registered bank holding company that controls Belvedere Capital Fund II LP, San Francisco, California ("BelCap Fund"), a registered bank holding company that owns and controls SoCal Bancorporation, San Francisco, California ("SoCal"). All the same company. It is the reason why they jointly announced the aquisition below.
SAN FRANCISCO -- Belvedere Capital Fund II L.P., a financial services-focused private equity firm, and Belvedere SoCal jointly announced the completion of the acquisition of Professional Business Bank on Friday, November 23, 2007. Professional Business Bank is now a wholly-owned subsidiary of Belvedere SoCal, a new holding company created by Belvedere Capital to build Southern California's leading small business-focused community bank.
This transaction and the newly formed holding company are intended to accelerate Professional Business Bank's growth and create a platform for additional bank acquisitions. Belvedere Capital will assist Professional Business Bank in fulfilling this vision by helping to attract strong commercial loan officers and identifying strategic acquisitions.
"We are excited to finalize the transaction and begin growing our Southern California presence through the addition of talented personnel and new branches," Alan Lane
So basically our latest pr is huge news for Socal based on my dd. It is about much more than just 3 percent of a cut verses 97 percent. They are both the same company.
SAN FRANCISCO, Jan 17, 2011 (BUSINESS WIRE) -- SoCal Bancorporation, a California corporation (Pink Sheets:BLVE), announces that Professional Business Bank and California General Bank, both commercial banks headquartered in Pasadena, Calif., completed their merger effective December 31, 2010. The merger was approved by each bank's respective shareholders and bank regulatory authorities.
The combined bank will retain the name Professional Business Bank and continue its mandate of serving small to mid-sized business banking customers. The new Professional Business Bank now represents a community banking network with six locations in Los Angeles and Orange counties.
Mary Lynn Lenz will continue in the role as President and Chief Executive Officer of Professional Business Bank. David T. Blankenhorn, previously Chairman of California General Bank, will continue in that role for the combined bank.
"We look forward to continuing to serve our customers with the truly local and personal banking services they have come to rely upon," stated Mary Lynn Lenz. "California General Bank and Professional Business Bank shared a commitment to meeting the banking needs of area businesses with a high level of customer service that is simply isn't provided by larger banks," Lenz continued.
"The union of these two local banks creates a strong commercial bank to support small business growth in Pasadena, Glendale, the San Gabriel Valley and the Tri-Cities area," stated David Blankenhorn. "The combined bank will continue to offer a broad platform of products delivered by an exceptional management team that has the capital backing to address the growing needs of its customers," he said.
Carpenter Community BancFunds, the sole shareholder of CGB Holdings, Inc., the parent company of California General Bank, invested additional capital in the new Professional Business Bank in conjunction with the merger. The capital provided by Carpenter Community BancFunds will be used to further strengthen the combined bank's balance sheet and provide a base for expanded small business lending.
"We are pleased to expand our commitment to businesses in the San Gabriel Valley and adjacent areas through this combination," said Edward Carpenter, Chairman of Carpenter Community BancFunds.
The new Professional Business Bank specializes in serving small to mid-sized businesses, including medical professionals, professional service providers such as attorneys and CPAs, manufacturing firms and various other regional businesses. The combined bank operates from six branches located in both central and east Pasadena, Montebello, Glendale, Irvine, and Huntington Beach.
In conjunction with the merger, the two shareholders of Professional Business Bank, Belvedere Capital Fund II, L.P., which owned approximately 97 percent of Professional Business Bank, and SoCal Bancorporation, which owned approximately 3 percent of Professional Business Bank, received merger consideration in the form of cash and securities. SoCal Bancorporation will use the merger consideration it received to pay its creditors.
About Professional Business Bank
Professional Business Bank is a full-service financial institution that serves the personal and business banking needs of Southern California businesses with an emphasis on companies located throughout the San Gabriel Valley and the Tri-Cities area. Professional Business Bank was founded in 2001.
About California General Bank
California General Bank was formed in March 2009, and as the result of the federally approved bank merger on December 31, 2010, is now known as Professional Business Bank.
About Carpenter Community BancFunds
Carpenter Community BancFunds is a bank holding company with $280 million in committed equity capital. Established in 2008, Carpenter Community BancFunds is managed by principals affiliated with Carpenter & Company, an Irvine, California-based investment firm that has provided capital and strategic advice to the banking industry since 1974. Carpenter Community BancFunds has a current portfolio of invested banks that includes Bridge Bank in San Jose, Plaza Bank in Irvine, Mission Community Bank in San Luis Obispo, Professional Business Bank in Pasadena and Bank of Manhattan in El Segundo, with ownership interests ranging from 35 percent to more than 90 percent.
I am digging. I was reading some stuff from the Federal Reserve. Looks like Socal is owned by Belvedere Capital Partners II LLC. The pr stated that Socal was only getting their 3 percent and Belvedere getting 97. However, it is the same company. A little confusing at first but then I understood it. Socal may only get 3 percent on paper to got to debt but the other 97 percent is going to the company that owns Socal. And this is far from a shell game. These banks report to the Federal Reserve and are heavily regulated. So, it is legal and our little penny stock is in the middle of a HUGE bank merger. We have just got to wait and see what exactly it will mean for our pps. But make no mistake it is in the best interest of Belvedere Capital Partners to see Socal flurish. We are not going to get the assets from this merger but we are looking good. Because in the end all three comopanies were the same. LOL
This was from a Federal Reserve agreement
WHEREAS, Belvedere Capital Partners II LLC, San Francisco, California ("Capital Partners") is a registered bank holding company that controls Belvedere Capital Fund II LP, San Francisco, California ("BelCap Fund"), a registered bank holding company that owns and controls SoCal Bancorporation, San Francisco, California ("SoCal"), a registered bank holding company that owns and controls Professional Business Bank, Pasadena, California (the "Bank"), a state chartered nonmember bank, and a nonbank subsidiary; and BelCap Fund also controls a state member bank and, through two intermediate holding companies, a national bank
We have a seller to knock out and the ask will be back to the lovely .50c pps.
I would not sell a low float stock on the bid. We have seen a lot of action becuase of the merger in place. We should find out more details about it soon. Socal owned the bank that is merging. There will be much more to this story. The 3% stock payout was just part of the deal but my understanding is that Socal owned the bank. We need a filing to understand exactly how this merger will be a part of Socal. The merger news is HUGE and we have seen the big boys take interest in BLVE stock.
Yes. They will raise the ask back up to 1.00 PPS. Low float stock is hard to get cheap shares.
When all is said and done, what marketcap should we be looking at???
I wonder what happens when we knock out the .51??? Simply not any cheap shares available.
Great point. They know the value and they are not going to let the shares go for todays prices. The stock is way undervalued.
I took a while to fill at .25. I think they will be hitting the ask on this one all the way to multidollar land.
Not counting this month. If you go back to Feb. 2009 it looks like about 300,000 shares trades total. That is just looking at the monthly charts and rounding it off.
I just read the pr from Exterra. IF this is our new partner it would be HUGE. However, it is all speculation until we get word from Eagle. The pr from Exterra also stated that a top executive that was with Exxon will be joining the team when their merger takes place. The timing of the two companies news makes it look like this could very well be the deal and I hope it is. Even if it is not, we have big news coming and I am excited about it. Perhaps someone else on our board could do some more dd and try to connect the dots more for us. Nice find.
I agree. MAJOR news coming and our new partner is going to help the company start the revenue flowing. We should hear details on this in the next few weeks or possibly even days. The developments should start be the end of the month. We are sitting on a fortune in oil and it is time to start pumping it. The best thing about it all is the low float and great share structure of the company. Not the typical pink stock at all.
It took me a while to add shares this morning. Next week will be fun.
I do not think it is the company. Management said they are not selling any shares. Looks like they have made solid moves and the low float tells me that they are dead serious about the value of the stock.
The pps has slipped down some in the past week but the accumulation line is moving up. When we get the pr we are waiting on, PPS will jump fast. Just a hint about this upcoming deal shot us up 1000% in one day. Got to love a low float.
Management said that they are not selling shares. And I believe that they are not. This company has an excellent share structure and the their debts are low. They are gearing up for revenue with a new partner without any toxic financing. The smart way to do it. I could easily see them being 100% debt free and solid revenue for a long time with this new joint venture. Combine that with a super low float and we should be very happy shareholders soon. Just in my opinion. Happier than a pig in mud.
Double post was a boo boo.
Maybe a few days away from the good news. Smart money will move in before the run.
It could be very big news. Any ideas who will be partenering with us??????? Maybe it someome big. I am sure they did their homewrok on these wells before investing millions of their own money to share in the profit with us. It is a very positive relationship and a smart play by management. Staying out of debt, great share structure, revenue on the way, billion bucks of black gold, 10 million dollar line of credit, no dillution, insiders own most the o/s, and more news coming soon. Does not sound like a pink sheets CEO to me. They should do very well.
Someone wanted a lot of shares today. It is getting close to the middle of the month and we should be hearing specificss on our new partner. I wish I could have got my shares cheaper today. LOL. Seems like everytime I try to buy the ask goes up. Maybe, I could call a MM and tell them to buy my shares the dirty way with a "t trade". LOL. But whats an extra penny cost per share for EGOH when we tap that Billion Bucks of black gold.
Both agreements required Sam to hand over everything related to the Bio Harp. The working instruments, notes, drawings, schematics, marketing materials, and all things associated with it. Sam spent years making this thing and he is a talented scientist. There is a ton of stuff somewhere. And how much stuff did we get????? Sam's attorney claims he deliver it all. According to the letter from our lawyer to the court, Sam has turned over nothing except for a broken unit that was sent back in February.
Paul was concerned about Sam delivering these assets. So, just before the deadline on October 18th, 2010, he had his lawyers send send Sam a letter reminding him of the assets he agreed to send Xtend Medical.
#1 - One sensor units - For example the one used at the Hunter Wise Meeting, Pauls office, trade shows, Korean Research centers.
#2 - five sensor units (looks like the Japanese had a an intereest in it)
#3 - denatl prototype - Sammy boy made one spefically for Dentist.
#4 - Schematics and technical drawings.
#5 - Manufacturing plans and molds
#6 - Mr. Lee's Notes from the lab
#7 - Marketing Materials
#8 - Trade show products
#9 - Instruction Manual
#10 - Business Proposals
Sam never thought he would have to go to court. His plan was to call a board meeting and drop the lawsuit. Sam tried to hide his guilt and make this all go away. To start with, Paul would have never signed an enforcable settlement agreement that would give Sam this option. He would have just took him to trial. Sam was even trying to change the name of the company and I am sure that kicking Paul out was his next move. Paul was the legal CEO before Sam's illegal board meeting and Paul was 100% legal when he changed the share structure. He had every right to do it because Sam did not have any kind of anti-dillution clause in place. This means that Sam can not say or do anything about share structure changes. Paul had to change the share structure for the audit and it was SEC law that required him to audit the company after the purchase of the bio harp. Also, take note that Sam's lawyer keeps complaining over and over that Paul dilluted his holdings. Well, Sam signed TWO legal agreements to take shares in XMDC in exchange for the Bio Harp and he has no right to complain about the stock. He should just deliver what he was paid for and he may just find that he likes the stock a lot more in the future. Like you said, now he is going to have to over 500,000 in legal fees for a court case that he will never win. It is clear to me who needs to take the whole bottle of "smart pills".
I am pumped up becase this stock went up like 1,000 percent in one day with just a hint of things that will take place soon. When the meat is on the table soon, the big dogs will be coming.
I am excited about the upcoming news but what will really help us is the fact that these guys will be starting around the end of the month. This should mean that revenue is on the way soon. That is all it will take to establish a much higher pps level for the company. Solid numbers change stocks in BIG ways. Especially, in penny land because talk about what you migt have really means nothing. When the oil thats coming out of the ground, we will be tapping that potential billion dollars in revenue. Combine that with a very nice comany share structure and we are going to start the new year with a bang.
I honestly do not know what the MM's do. Some say computers run it all and maybe are programmed to manipulate the pps and chance they get. When news comes out, it will be a game changer. We touched .20c last time just on news about th letter of intent. Someone is going to invest up to 2,000,000 dollars in a joint venture. We should be getting all the info very soon and this stock will explode. The low float will cause the pps to rise much faster than normal. Also, management will not be selling shares and slowing down our run. I feel that this one could be very fun to watch. I am locked and loaded for the fireworks. News about solid revenue about a billion dollars of oil will be a MAJOR news for this company.
That was a lot of shares. They should not be able to hold buy orders like that and then show them at the end of the day. Call it balancing the books but I say it is hog wash.
Perhaps, a green day for xmdc?????
That is a good question. Sam is messing up big time. I say that because he needs to get paid. He should have worked with Paul this time last year and turned those 500 million shares into some serious money. The Bio Harp device has the potnetial for huge revenue and all he had to do was just hand the stuff to Paul. Then, one year later he gets a nice pay day. Paul had the money in the bank to start manufacturing this time last year. But I do not blame Paul for not starting manufacturing or anything else when Lee did not sign the patents over. I just have a hard time understanding why Sam would not just make the best out of his shares and enjoy the money. Now, Sam is looking at major legal bills and he still has not complied with the last settlement agreement. The dude needs a good friend to sit down and talk to him about this. LOL