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rickguy6, all this great DD doesn't mean squat if the shareholders aren't permitted to see what's going on behind investees' closed doors. Why didn't these companies just merge with AMEP then all would be above board??? Three guesses, and the first two don't count!! LOL!!!
Waitedg, it's possible Ameritrade already has an "inventory" of UNITED BOLERO DEVELOPMENT CORP stocks that they bought on the Canadian market and used those to fill your UBDVF order even though the MM's aren't trading them yet.
Sometimes when I use my Fidelity account for a buy (or sell), on the execution order they state they acted as "market maker", which means they had shares in stock or took my sold shares into their inventory. If that's what they did, it's looks good for future potential. Maybe you could call and ask if that's what they did.....
sumisu, a young man inherits a million dollars and immediately invests it in some promising OTC stocks. A month later he is in a car accident and ends up in a coma. 50 years later he wakes from the coma and after rehabilitation leaves the hospital and goes to a pay phone to call his brokerage firm. A broker tells him his portfolio is worth $500 million as of yesterday's close!!!!! Then the phone operator cuts in and says "Please deposit $10 million for the first three minutes." LOL!!!!!!
ole vern, sorry Vern, BDC's are set up because the private "investees" do not have to report to the SEC and AMEP only reports the figures submitted by the investees. We know how many employees AMEP has and how "they" are paid, can you tell me how many employees PRI and Bend Arch have and how much they are paid??? Please provide link to that info...
The rig is owned by an investee, do you think you will ever see the finances that apply to the rig??? Do you think you will ever see the $$$ and percent figures of private investors investing in a well being drilled? Or what is the AMEP shareholder percentage ownership of a well? Surely you can see how AMEP shareholders can be kept in the dark like mushrooms????
tenzzi. look for me at Walmart at the front door when you go in.... I'll give you a great cart with round wheels!!! (I keep them aside for special customers!!! LOL!!!)
easye, if AMEP has 100% interest in several wells, why is the revenue for the first half of 2005 = zero???? BTW, how many exactly is "several" wells????? Are the wells drilled yet???
As a BDC, the investees can do what ever they damn please with revenues, drilling, salaries, etc. AMEP just reports the figures handed to them, no audits for the shareholders, IMO. The whole thing stinks from an investment standpoint, a BDC is a license to fudge.
We don't need no stinking newsletter, we have TRCPA and Twojuggles!!!!
Beware of Stock Fraud in the Wake of Hurricane Katrina
September 16, 2005
Financial fraud routinely follows on the heels of disaster. Hurricane Katrina is no exception. NASD is issuing this Alert to warn investors that fax and email investment scams may come your way touting stocks with the promise of huge gains in the wake of Katrina.
One fax claimed that Katrina would mean a "massive run up" in the company's stock "as demand to repair homes skyrockets." Citing the enormous cleanup costs associated with the hurricane, the fax stated, "So, you can see, any company that gets a tiny slice—even one percent—of this business could add a minimum of $260 million to its bottom line." The fax went on to urge investors to act quickly because the stock was undervalued.
You can expect unsolicited faxes and spam about investments that exploit a variety of hurricane-related opportunities. Best bets for scams include stocks associated with clean-up or rebuilding and those that purport to take advantage of refinery issues and the rising cost of oil and gas. While it is conceivable that some of the claims that are being made may be true, many could turn out to be bogus - or even scams. This Investor Alert explains how to spot and protect yourself from these investment scams.
Spotting Potential Hurricane Katrina Investment Scams
Unsolicited faxes and spam about investments that exploit Hurricane Katrina frequently include:
Price targets or predications of swift and exponential growth.
The use of facts from respected news sources to bolster claims of a price run up, for example that some percentage of the billions of dollars it will take to rebuild after Katrina will contribute directly to a company's bottom line.
Mention of contracts or affiliations with federal government agencies or large well-known companies.
Standard corporate developments, like contracting with a supplier, presented as major events.
Statements about how much easier it is for low priced stocks to skyrocket in value in comparison to higher-priced stocks.
Pressure to invest immediately, such as "You must act now!"
How to Avoid Getting Scammed
To avoid potential scams, make sure you get the information you need to make a wise investment choice.
Investigate before you invest. Never rely solely on information you receive in an unsolicited fax or e-mail. It's easy for companies or their promoters to make glorified claims about new products, lucrative contracts, or the company's revenue, profits, or future stock price.
Find out who sent the message. Many companies and individuals that tout stock are corporate insiders or are paid to promote the stock. Look for statements (usually found in the fine print) that indicate cash payments or the receipt of stock for disseminating a report on the company.
Find out where the stock trades. Most unsolicited fax and spam recommendations involve stocks that can't meet the listing requirements of The Nasdaq Stock Market, the New York Stock Exchange, or other US stock exchanges. Instead, these stocks are usually quoted on the OTC Bulletin Board (OTCBB) or in the Pink Sheets. There are important differences between the OTCBB and the Pink Sheets and The Nasdaq Stock Market or a stock exchange:
There are no minimum quantitative standards that must be met by a company to have its securities quoted on the OTCBB or in the Pink Sheets.
Many of the securities quoted on the OTCBB or in the Pink Sheets are infrequently traded and can move up or down in price quickly. This may make it difficult to sell your security at a later date.
Read a company's SEC filings. Most public companies file reports with the SEC. Check the SEC's EDGAR database to find out whether the company files with the SEC. Read the reports and verify any information you have heard about the company. But remember the fact that a company that has registered its securities or has filed reports with the SEC doesn't mean that the company will be a good investment.
If you're suspicious about an offer or if you think the claims might be exaggerated or misleading, please contact us. Complaints about unsolicited faxes may also be directed to the Federal Communications Commission. You can file a complaint online at the FCC's website: www.fcc.gov.
Additional Resources
NASD Investor Alert Stock Spams and Scams
To receive the latest Investor Alerts and other important investor information sign up for Investor News.
I figured Drillbit went to the rig site to spit-shine the drill pipe.....
Dow 40,000??? Maybe in a decade, they laughed at Dow 10,000 back in the 60's and 70's.....
OT: lonestar, ETHYLENE GLYCOL used in antifreeze is toxic, but there are many "glycols" used for food, cleaners, and cosmetic applications that are not toxic although "similar" in chemistry. I doubt the Swiffer Wetjet uses the toxic "antifreeze". One of these "safe" glycols is used in cooling coils in the food industry, like beer companies, that are not toxic if a leak occurs into the beer. But....Swiffer had the warning on the label, so who knows!!!!!
http://www.dow.com/propyleneglycol/
Shorting is not "evil".....
"Some people view short selling as something akin to flag burning. It's un-[insert your nationality here] to hope that a company stumbles and its stock plunges, right? Rubbish! Just as a healthy legal system needs both defense attorneys and prosecutors, healthy financial markets need people who will look at companies in a skeptical light, given that accountants, Wall Street, and the companies themselves have such strong incentives to spin a positive story. Short-sellers -- and the handful of courageous journalists who cover their pans -- are a blessing to savvy investors, even those who only invest on the long side.
(Shorters found the problems at Enron long before it became news)
The rest of the story....
http://www.fool.com/Specials/2001/sp010621.htm
Filling Up On Energy Bargains
Ken Kam; Marketocracy Marketscope, 10.14.05, 11:30 AM ET
"Energy demand isn’t going away, so the largest portion of your portfolio should be in energy stocks. Take my advice and fill up on some cheap energy stocks while their prices fall back."
SAN FRANCISCO, CALIF. - I never like paying too much for gas or for stocks. With gas prices well above $3 in California, I’m always looking for gas stations with the cheapest gas. It’s the same with energy stocks.
For months, I’ve been telling you that energy stocks should be a big portion of your portfolio. They are the most strategic component and are smart risk management as a hedge if the economy takes a dive from high oil prices. But if oil prices continue to rise without slowing the rest of the economy, this will be your best performing sector again.
October brings fear and opportunity. Click here for ten stocks to buy on the dip from the best portfolio managers at Marketocracy.
In May, when oil prices dropped 18% and most “experts” were declaring that the oil run was over, I told you to load up. Since then, oil prices have jumped 41%. Now, we’re seeing a similar pullback as some people take profits. But, the same supply/demand imbalance and the minuscule supply buffer problems we’ve talked about still exist. So, as prices fall, this is a great time for you to pick up some energy stocks at a good price.
Like gas stations, some energy stocks are cheaper than others. Let me tell you about three types of energy stocks I’m most excited about.
Some companies drill in the deepest oceans and deal with unstable and unsavory governments to find new oil fields. But higher oil prices are making it profitable to explore for oil much more safely--in fields that were previously considered exhausted.
It turns out there is a lot of oil left in an “exhausted” oil field. When the price of oil is less than the cost of extraction, an oil field is considered exhausted and the proven reserve for that field is set to zero. However, when the price of oil rises above the cost of extraction, magically, the oil reserve reappears on the balance sheet.
At today’s oil prices, a lot of exhausted oil fields are economic again. Oil companies, especially those with a high percentage of exhausted oil fields, have been able to increase their reserves without looking any further than their own books. Companies like Chevron (nyse: CVX - news - people ), Exxon Mobil (nyse: XOM - news - people ) and ConocoPhillips (nyse: COP - news - people ) have a lot, and their stock prices already reflect that.
Today’s oil prices are spurring a lot of activity to reopen old fields. It makes a lot of sense to drill where you know there is oil: You have a pretty good idea of what it will take to get it out of the ground, and you already have the infrastructure needed to get the oil to market.
Houston-based Grey Wolf (amex: GW - news - people ) is a contract driller, operating primarily along the Gulf Coast and into Oklahoma. Grey Wolf has already put back on line 37 of its 40 rigs that had shut down due to Rita. The stock is up 50% in the past year and trades well below its 52-week high of $8.60 hit on Sept. 30. The company’s market capitalization is $1.4 billion.
San Antonio-based Pioneer Drilling (amex: PDC - news - people ) is a contract driller, but does its business on land in Oklahoma and throughout Texas and the Rocky Mountains. Being land based allows Pioneer to benefit from higher oil prices, but buffers it from the shutdowns and service interruptions that plague drillers on marine platforms. The $705 million market-cap company is up more than 100% in the past year.
Refining profits.
For decades, the refining industry has been only marginally profitable. But late last year, when capacity utilization for the 148 active refineries in the U.S. started to push above 90%, it was easy to see that if the economy grew much at all, or if there were any outages for any reason, refining capacity would become a bottleneck and profit margins would greatly improve.
The hurricanes knocked 13 refineries offline and Wall Street is now abuzz with talk of the shortage of refining capacity. Some of our largest holdings and biggest winners this year are refining companies and they have performed exceptionally well. Valero (nyse: VLI - news - people ) recently acquired Premcor (nyse: PCO - news - people ) to become the largest refiner in North America. Since the beginning of the year, Valero is up about 135%. Shareholders of Premcor who accepted Valero stock in the merger are up 120% this year. The transaction leaves Tesoro (nyse: TSO - news - people ) as one of the few large independent oil refiners left. Tesoro is up 86% this year, but its below market P/E ratio of 14 makes it a potentially juicy acquisition candidate.
No one wants to live near a petroleum refinery.
Every time someone proposes to build a new refinery, citizens’ groups are formed to file lawsuits under federal environmental laws and state regulations to halt construction. They have been so effective that no new refineries have been built in the U.S. since 1976. Rather than try to run the regulatory gauntlet to try to build a new refinery, it’s been safer, cheaper and easier to buy an existing one. This does not result in any new capacity coming online, but every time an acquisition occurs it seems to establish a new and higher value for existing refineries.
The price gap between sweet and sour crude is widening.
A big reason why Valero has been so profitable is because it is one of the largest refiners of heavy “sour” crude. Valero decided long ago to go after this segment of the market, and it has turned out to be a brilliant strategy. Why? Because there is a widening price gap between heavy “sour” crude and light “sweet” crude. The price gap has ranged between $9 and $20 this year and is currently over $15 per barrel. Last year the price gap averaged around $11, and in 2003, it was only $7.
Refiners churn out the same end products (gasoline, heating oil, distillates, etc.) using either feedstock, but not all refiners have the equipment to process heavy sour crude. That costs a little more (it costs Valero only $1.5 to $2 more for refining sour versus sweet), but those that can are cashing in on the price difference and their stock prices reflect that.
The price gap is widening because there is a big supply/demand imbalance. The vast majority of the world’s oil reserves (75%) are sour crude. Only 25% is sweet, but most of the current oil production (40%) and most of the world’s refineries are geared to sweet. In China, where much of the growth in oil demand is generated, 80% of refining capacity is dedicated to sweet crude. When OPEC turned on 2 million barrels a day of excess production, the world’s refiners turned their noses up because it was largely sour crude.
So, with growing demand for gasoline and other refined-oil products driving the prices and profits for all refiners upward, and with companies like Valero reaping the rewards of a widening price gap between sour and sweet on the upstream side, sour refiners like Valero are going to continue their monster returns.
Energy demand isn’t going away, so the largest portion of your portfolio should be in energy stocks. Take my advice and fill up on some cheap energy stocks while their prices fall back.
Excerpted from the Oct. 2005 issue of Marketocracy Marketscope.
Send comments and questions to newsletters@forbes.com
What's the long term plan here? Do you think FASC will build their own manufacturing plant to meet the demand for the new KDS's needed for all the projects???
Lots of Portuguese buyouts today....
By: contractor10940
14 Oct 2005, 10:58 AM EDT
Msg. 41743 of 41765
Jump to msg. #
this guy is full of crap! period
http://www.ragingbull.lycos.com/mboard/boards.cgi?board=ILCO&read=2098
http://www.ragingbull.lycos.com/mboard/boards.cgi?board=CALB&read=222
http://www.ragingbull.lycos.com/mboard/boards.cgi?board=AMEP&read=41468
http://www.ragingbull.lycos.com/mboard/boards.cgi?board=CMKX&read=1025974
(Voluntary Disclosure: Position- Long)
Nice to see the sleazeballs didn't make much after all their trouble. The market didn't buy it.....RB is like a circus, seems funny the main board pumpers at RB disappeared a couple of days before this "news", and some had their posts deleted.
Doubledownga, I don't doubt it's being PR'ed in Portugal, I just really doubt it's true at this point. For stockholders sake, I hope I'm wrong....I guess we'll see. GLTY..
"A source" at a Portuguese energy company says it is going to make an offer for AMEP..... This has got to be the best yet!!!!! Today will be AMAZING!!!! Any predictions on the volume??? Got to LOVE the OTC!!!! Credibility, 0.00001%, IMO...
"A source says..."?????? LMAO!!!
USGL, interview of CEO by Canadian newspaper...
McEwen still digging for gold
Former Goldcorp chief has his eye on Nevada
Lori McLeod
Financial Post
October 13, 2005
Former Goldcorp Inc. chief executive Rob McEwen was a fixture in the Canadian gold industry for years. But he left Goldcorp earlier this year after he fended off a bid from Glamis Gold Ltd. and steered his company to a merger with Wheaton River Minerals Ltd.
Now this gold bug is throwing his considerable wealth and reputation behind exploration of the Cortez gold trend in north central Nevada. Mr. McEwen spoke with the Post's Lori McLeod about how a deep drilling approach could lead to paydirt in one of the world's hottest mining regions.
Q. After taking a big stake in U.S. Gold Corp. (USGL/OTC BB) you recently took the helm there. Is this your new Goldcorp?
A. I think it has a lot of potential. It's in a great district and has a lot of exploration upside. Sitting 10 miles away is Placer Dome's Cortez Hills discovery, which basically changed the future of this trend, which is called the Battle Mountain/Cortez trend. Placer's discovery basically said within the trend is Carlin-style mineralization, which is a new revelation. Carlin, which is 20 miles away, is another trend that hosts about 180 million ounces of gold of which about 60 million has been produced so far.
Q. When did you actually become interested in this property?
A. I became interested in the Cortez trend several years ago. We were looking to buy an interest in a producing mine there. And I went, "Wow, this is a remarkable part of the world." And that deal didn't come to pass, and so Goldcorp, through my direction, invested some money in a company called White Knight [Resources Ltd.] (WKR/TSX-V). When I stepped down as CEO [after the merger], the new management group had a preference for buying advanced exploration plays and properties already in production, so the decision was made to sell [the junior exploration portfolio]. I stuck up my hand and said "I'll buy some of these things you're selling."
Q. And these are your own personal investments?
A. That's right. I bought a 10% interest in White Knight, which I subsequently increased to 17%. And I'm looking at the claim map which shows this district. At the top of the district you have Newmont [Gold Corp.] and Placer [Dome Inc.] with big land positions ... at the bottom end of the trend you have Newmont [Mining Corp.], Placer and Barrick [Gold Corp.] If you were to think of it as a sandwich, the majors are the two pieces of bread, and in between are a number of small, junior explorers that have a good size chunk of the trend. But they're underfinanced, and they've sold off parts of their properties to majors. But U.S. Gold's property is still 100% owned, and its very strategically located, it hasn't been explored at depth ... and White Knight has property on three sides of it.
Q. What's the appeal for investors?
A. You're in the right country from a standpoint of foreign exchange, you're in the right state from a standpoint of discoveries, and you're in the hottest trend in that state. If you could create a vehicle where investors could appreciate the magnitude of discoveries that have been made down there [along with] the possibility of making others, they would say what type of stock do I want to play? Do I want a senior, where I'll get a move but not much, or do I want to play a junior that has a chance of tripling or more?
Q. Your involvement has obviously renewed interest in U.S. Gold's stock.
A. Everybody who's joint ventured or run it before has wanted to put the surface resources into production. To me, you don't want to do that. This is an exploration play, not a small production play.
Q. How expensive is this kind of exploration and how much cash do you need to raise?
A. I would like to be sitting on sufficient funds to be able to run for 18 months to two years exploration. So it's probably about US$10-million. We have to raise that much, probably through an equity investment.
Q. Do you expect an investment from one of the majors on this trend?
A. No, investors, whether retail or institutional.
Q Tell me about NovaGold Resources Inc. (it has been buying up U.S. Gold shares at the same time as Mr. McEwen).
A. They own about 16% of the company. They were buying it to do exploration on it. We've had discussions because they're our second largest shareholder and we'd like to keep the door open. Just discussions right now.
Q Are you going to fight if they try to make a run at the company? (He once donned boxing gloves for the photographers in the defence against the Glamis gold bid.)
A. No, no. They're good exploration guys.
Q. What about your other investments?
A. I have a 12% stake in Guyana Goldfields [Inc.] (GUY/TSX) ... I have about a 50% interest in [oil and gas junior] Lexam [Explorations Inc.] (LEXh/TSX-V). In the early 90s we were drilling for gold on the property and we hit oil. We drilled 42 or 43 holes and 27 of them hit oil and two of them flowed to surface. It was one of these stories that takes your eyebrows and pushes them above your forehead pretty quickly ... It's a large property package that has some interesting characteristics to it, and it's the only deep basin in Colorado that hasn't been drilled.
Q. Would you sell Lexam to fund your gold exploration plans?
A. I'd personally like to drill it. It's a big property. I like large targets.
Q. What is your outlook for the gold price?
A. It hasn't changed. Five years out, US$850 per ounce. I believe we're now in the second phase of the gold market. The first phase involved gold moving higher against the U.S. dollar. The second phase, which started this year, is gold moving up against all currencies. And the third phase will kick in with public participation and it will start increasing as we start going through US$500 and US$600 per ounce. And it will start running away. But right now gold is not on the radar screen for most people, for most investors.
angelhillcorp, sorry, I misunderstood your post. I was talking about how it's "supposed" to work, I agree with you the system is abused. I like your idea of shutting down the market until all shares are accounted for!!!! Give the market about 3 months to "get honest", then shut it down for a check!!!! Trouble is, it may never get restarted!!! LOL!!
I disagree with you on shorting (the legal kind, if it exists!), it actually adds stability to the market and the shorts are usually the first to locate bag eggs like Enron from what I've read. I never short, no guts, I use options if I think a stock may go down over a period of time.
angelhillcorp, shorting shouldn't effectively increase the share count if they are really "borrowed" and not naked shorted. If I borrow your car for a week and you call me and tell me you sold it, I have to bring your car back or pay you what your buyer's offer was and I keep the car. Still one car, not two.
OT: Sam, VMHVF OS count also went up 18 million shares since February and we all know what dilution can do to the pps in the long term. Still only 50 million OS, but the 10-K says they need additional funds to continue.
AATK, after little action on earnings release, showing action today after hours, 256,650 shares, almost today's regular hours volume,
and well above 22,000 average. Yahoo board says contract....
http://finance.yahoo.com/q/mb?s=AATK
Last filing says 193 wells CAPABLE of producing for one investee, no info on production that I could find or how many wells are actually producing. Hard to find anything in the filing, 98% of it is about issuing shares, IMO.
"The assets of PRI include over 1,500 producing acres and 193 existing oil wells fully equipped and capable of producing oil."
Geesh, if you don't know either, just be honest and say so!
Waitedg, TR deleted that sri1 post but kept the post that said "TRCPA, You are a great guy." Make sure you use that in all your posts and you'll be OK!!! LOL!!!
How many wells does AMEP have and what was the annual production for 2004????
TERX is not a BDC, means a lot to the smart money, no unaudited investees, IMO.
AACS, bid x ask, 0.0189 x 0.0188! Does that mean MM's need shares REALLY bad??? LOL!!!
TERX has about 51 million OS per last 10-K...hmmmmmmm. You guys are funny!! LOL!!! See if you can find a BDC company with massive dilution for comparison......
TERX: "The number of shares of the issuer's Common Stock outstanding as of August 12, 2005 was 50,725,000."
UPDA.OB, 78 cent close, only 6 million OS according to Yahoo...
Well looks good, but one never knows how long the production keeps up when revitalized....check the 8-K too:
http://biz.yahoo.com/e/051012/upda.ob8-k.html
West Oil & Gas, Inc. Established for UPDA Joint Venture in Utah -- Gas Production Initiated
Thursday October 13, 7:55 am ET
SALT LAKE CITY--(BUSINESS WIRE)--Oct. 13, 2005--Universal Property Development and Acquisition Corporation (OTCBB:UPDA - News) has established West Oil & Gas, Inc.(West), a Nevada corporation, as its new subsidiary in connection with its joint venture with Dark Horse Exploration (DHE), Masaood Group and Rene Kronvold for the development of the Dirty Devil Gas Field in Uintah County, Utah.
Revitalization of the initial well, the DD Federal 1-18, has been completed and it has been reported that production has been increased to 3 million cubic feet of gas per day.
"This represents Thirty Thousand Dollars ($30,000) per day of revenue at the conservative rate of $10.00 per mcf," said Byron "Woody" Woodward, President of West. "We anticipate that the other existing wells will also produce that much."
"The revitalization of four more of the existing wells will be completed within two weeks," continued Woodward, "and they will be brought on line as soon as they are ready. The sixth well, the DD State 31-15A, will require installation of new flow lines and some additional equipment. This will be the last well completed. All six will be producing by the middle of November."
"In addition to these vast amounts of natural gas, the DD State 11-29 may produce 250 barrels or more of oil per day according to Woody," said Chris McCauley, UPDA Vice President. "Given the accuracy of his estimates on the 1-18 and his experience with this property, we are very anxious to get this revitalization program completed."
As previously reported, West will drill 80 additional wells in the Dirty Devil Field over the course of the next 2 years. Because DHE has all the equipment necessary to drill these wells, they can be completed on time and under budget.
About Universal Property Development -- www.universalpropertydevelopment.com
Universal Property Development and Acquisition Corporation (OTCBB:UPDA - News) focuses on the acquisition and development of proven oil and natural gas reserves and other energy opportunities through the creation of joint ventures with under-funded owners of mineral leases and cutting-edge technologies.
Statements contained in this press release that are not based upon current or historical fact are forward-looking in nature. Such forward-looking statements reflect the current views of management with respect to future events and are subject to certain risks, uncertainties, and assumptions. Should one or more of these risks or uncertainties materialize or should underlying assumptions prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated, expected, or described pursuant to similar expressions.
--------------------------------------------------------------------------------
Contact:
Peter Nasca Associates, Inc.
(for Universal Property Development and Acquisition
Corporation)
Peter Nasca, 305-937-1711
info@updac.com
Doubloon, maybe if Naughty would quit buying we could pick up some cheap shares!!!! LOL!!!
Nice to see open market acquistions for a change!!! Don't see that often, it's usually cheap options for most companies.
Waitedg, you ain't arrived until half your FASC posts are deleted!!!! LOLOLOL!!!!!
"Does that mean I have arrived, or I have bottomed out???"
Can't scare an Ostrich while their head is in the sand!!! LOL!
"I'm not scared about AMEP or the BDC structure...cripes"
AACS...watch for momo...PR today, see my post I am replying to.....I think it is a diluting POS, so just a momo play for me, others may see value...
American Commerce Solutions, Inc. to Post President's Letter
Thursday October 13, 7:00 am ET
BARTOW, Fla., Oct. 13 /PRNewswire-FirstCall/ -- American Commerce Solutions, Inc. (OTC Bulletin Board: AACS - News) announced that it will post a letter from its President to its website @ WWW.AACSSYMBOL.COM on October 20, 2005.
Daniel L. Hefner, President and Chief Executive Officer of American Commerce Solutions, Inc. stated, "Next week I will post a letter to update our stockholders on recent activities and plans that have been tightly guarded over the past 90 days. It is my hope that each stockholder will be renewed in their support for AACS. I am aware and disappointed in the drifting share price during the company's period of silence. It is anticipated that we will have progressed sufficiently to be able to enlighten our share holders as to the activities that have absorbed our time. I trust that removal of the uncertainty will have a positive impact on shareholder confidence."
Hefner noted that the Form 10QSB will be filed within the next couple of days.
The company's Chariot Manufacturing subsidiary website is http://www.chariot-trailer.com . An updated President's letter for this subsidiary will post before the end of the month to provide current information about the company and its progress and objectives.
AACS also maintains a Strategic Partnership with American Fiber Green Products, Inc. with details available through its website, http://www.americanfibergreenproducts.com .
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained in this release that are not historical, are forward-looking statements that are subject to risks and uncertainties that could cause results to differ materially from those expressed in the forward- looking statements, including but not limited to, certain delays and risks detailed from time to time in the company's filings with the Securities and Exchange Commission.
--------------------------------------------------------------------------------
Source: American Commerce Solutions, Inc.
ctb, from your link, "A BDC company does not consolidate financial statements with its investees and each investee operates independently." That's what's scary about a BDC, if the investees make $2 million in profit from their wells, what's to prevent them from paying themselves $2 million in bonuses or increased salaries?? The AMEP shareholders have no way of knowing because the investee finances are hidden. Give me your money and I'll buy and sell houses....you'll have to trust me on the profits you get because I won't show you my results!!! LMAO!!!!
Platina, David J. Greene and company own shares of AMEP, but only 100,000...the second link is the fund's holdings, so they must be a mutual fund or other institution:
http://www.nasdaq.com/asp/holdings.asp?mode=&page=&symbol=AMEP&symbol=&symbol=&s....
http://www.nasdaq.com/asp/holdings.asp?mode=&page=&symbol=AMEP&symbol=&symbol=&s....
Platina, HLSH was delisted to the pinks for crooked accounting, the institutions listed probably wish they never heard of it. Any buying now are probably betting on a buy out or a return to good standing. It's a $1.53 billion market cap company, what does that have to do with AMEP?????
AUGUST 1, 2005 • Editions: N. America | Europe | Asia | Edition Preference
HealthSouth In Rehab
By rights, HealthSouth (HLSH ) should be dead. The victim of crooked accounting that, when set straight, lopped $3.9 billion off shareholders' equity, this hospital and medical-services company could easily be pushing up daisies in the corporate graveyard. That it's not may owes mostly to U.S. health care's sclerosis. How else could a company keep getting paid by its top client, Uncle Sam, after having cheated big time on its bills? Advertisement
For that and other sins, HealthSouth has settled with a host of government agencies. It still faces shareholder suits, and while former CEO Richard Scrushy in June beat criminal charges that he directed the fraud, the company itself remains a subject of federal criminal investigators. It's cooperating with the feds, yet nearly three years since HealthSouth started emitting its foul odor, the company's stock still is traded over the counter in the Pink Sheets, where few choose to stoop.
So why do I see potential for investors? Mostly because of the demonstrated persistence of demand for the services that HealthSouth offers. Despite the scandal, its underlying business appears, at worst, to be in stable condition. This year, if management's estimate pans out, earnings before interest, taxes, depreciation, and amortization, or EBITDA, will top $630 million. At that, HealthSouth's EBITDA margin would come in at 17%, up from 14.3% in 2001.
HEALTHSOUTH OBVIOUSLY PRESENTS unusual risks, perhaps chief among them the low visibility into its operations. Auditors still haven't finished work on a 2004 10-K report, never mind current quarterly reports. Those, plus a 2005 10-K, are not expected before early 2006. Until then, the shares won't be eligible for listing on NASDAQ or the New York Stock Exchange, where they traded before. Another worry is HealthSouth's balance sheet, which is weighed down by net debt of $3.2 billion.
Just the same, news on July 13 that the feds have quit prosecuting Scrushy criminally (a civil securities-fraud suit remains) may be a blessing in disguise. Scrushy could push hard to get his old job back, and that would prove a fresh distraction. But the board vows to resist, and new CEO Jay Grinney is anxious to look ahead. A veteran of HCA, Grinney is careful not to disrespect federal investigators or civil plaintiffs. But the other day when I pressed him on how far along he is in settling the legal problems, he said: "We're probably in the 70% to 80% range." He aims to have the rest settled by yearend.
His largest operating challenge is a new Medicare rule limiting admissions to in-patient rehabilitation facilities for victims of stroke, accidents, and other perils. In-patient rehab is HealthSouth's largest division. Grinney expects, however, that as the rule also bears down on smaller rivals HealthSouth will become a consolidator. Two other divisions -- outpatient rehab and ambulatory surgery centers -- are better set for growth but today suffer profit margins that are below industry averages. That leaves room for improvement. As for HealthSouth's fourth division -- diagnostic imaging centers -- it's a live possibility for a sale to raise cash and cut debt.
Near 5.65 a share, HealthSouth's total enterprise value (market capitalization plus net debt) comes to $5.5 billion, or 8.7 times the company's goal of $630 million in EBITDA this year. Capital IQ, a unit of Standard & Poor's (MHP ), puts the industry's average multiple at 9.8. At that, the stock would be worth upward of 7.35 or so. HealthSouth, it seems, has cheated death.
By Robert Barker