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bobsnook66: Thanks, every company has good and not so good points, be it Big Board, Nasdaq, OTC, or even Pink Sheets. Some good major companies outside the USA have chosen to be Pink Sheet listed rather than go to the expense of changing their accounting to US SEC requirements. I hope all longs here make money on FASC and prove my concerns unfounded. I don't know all the facts, I just state my opinions and learn from the responses. I do know one can get burned on any stock, on any exchange, been there, done that (too many times! LOL!).
sambeaux: CPAMAN wins debate, and loses shirt. LOL!
TRCPA: Last audited filing? Do you think the other filings since then are incorrect? Audited filing is just to confirm no mistakes were made in the previous unaudited filings. Regarding options, I'm just saying, making options available to employees is not an indicator of future success of the company which you tried to portray with the "35 cent options expiring in 6 months" (or similar). The quickly closing gap of OS versus Authorized should be the big concern whether via options or paying the phone bill. I doubt the company can generate enough revenues soon enough to fill that gap. Reverse split by year's end?
TRCPA: For the fiscal year ended June 30, 2004?
the daemon: It's "Giving him shares" in lieu of direct cash pay. Appreciate your input.
From last filing: NOTE 3 - COMMON STOCK
During the six months ended December 31, 2004, the Company issued 3,000,000 shares of common stock upon the exercise of options for compensation with a fair market value of $120,000; 1,1970,000 shares of common stock upon the exercise of options for services with a fair market value of $79,580; and 138,889 shares of common stock for $10,000 cash.
NOTE 4 - STOCK OPTIONS
The Company's board of directors approved the First American Scientific Corp. 2004 and 2004A Non-qualified Stock Option Plan. This plan allows the Company to distribute up to 20,000,000 shares (note: now 30 million) of common stock options at a maximum share price of $0.05 to persons employed or associated with the Company. This plan was not approved by the Company's security holders.
During the six months ended December 31, 2004, the Company granted 5,108,889 options of which 5,108,889 were immediately exercised.
NOTE 5 - RELATED PARTIES
At December 31, 2004, the Company owes two of its shareholders $180,000 for accrued wages and $72,216 for loans made to the Company.
TRCPA: If option shares are used to pay salaries (or part of), it is "cheaper" for the company since they can't sell shares directly to the market, using option route saves them the discount on shares required through a third party. I don't think the original option price is a factor, options priced at 5 cents and sold at 4 cents gives tax credit plus any "loss" can be made up via bonuses. Besides, in my $1000 example, more shares of 5 cent options would be exercised to get the $1000 of 4 cent shares if that's the market pps.
Cisco, Tyson sued for alleged options abuse
Wed Feb 16, 2005 05:20 PM ET
CHICAGO, Feb 16 (Reuters) - Investors on Wednesday sued Cisco Systems Inc. (CSCO.O: Quote, Profile, Research) and Tyson Foods Inc. (TSN.N: Quote, Profile, Research) , alleging that they issued stock options that at times benefited company officials and hurt shareholders.
Amalgamated Bank, which describes itself as "America's Labor Bank," filed the lawsuits in state courts. The companies used the stock incentives to "raid corporate piggy banks through carefully timed grants of stock options to directors," according to a statement released by Amalgamated's attorneys.
Representatives for both Cisco Systems, the largest maker of gear to direct Internet traffic, and Tyson, the biggest U.S. meat producer, said they had not yet been served with the suits and could not comment.
Amalgamated's attorneys said they were filing the suits on behalf of LongView MidCap 400 Index, an institutional investor in Tyson, and LongView Collective Investment Fund, a holder in Cisco.
"There is no doubt in my mind that timed options represent the next big wave in corporate governance reform," said Jay Eisenhofer, a partner in Grant & Eisenhofer P.A., which represents the plaintiffs.
The complaint against Tyson alleges that the Springdale, Arkansas, company granted stock options to some directors and officers before company announcements that defendants knew, at the time of the options grants, "would materially inflate the publicly traded price of Tyson's stock."
Similar claims were alleged in the Cisco suit.
TRCPA: "If buying the options at preferable prices are the only compensation that is received for salary or services, it probably indicates at least some belief in the company."
Why? They can just issue 10 million more when they need them!
Without shareholder approval!
the daemon: I'll try to keep this really simple for you. You owe me a $1000, but don't have the cash, so you give me $1000 worth of FASC stock, I sell the stock immediately to get my $1000. Keep that in mind. Now FASC owes Cal $1000 in back pay, Cal says give me $1000 of FASC stock instead via options which he sells immediately to get his $1000. Now don't worry about the options being restricted, he has old, unrestricted options that he will sell to get the $1000. It's about getting the $1000, not what price the options were when exercised.
TRCPA: If you tell me which part of my post you did not understand, I'll try to explain it again.
rob65737: I do not think TRCPA will accept any negative information regarding options. I'm pretty sure he believes the newly issued options (by managenment to themselves) means the pps is going to go up. You may get a "LOL" and told to read your post again. : ))
TRCPA: Tsk, tsk, you are a CPA? If the company owes me $1000 back wages, I tell the company to give me $1000 in option shares, or if you like, I pay $1000 to the company to exercise options, then the company pays me my $1000 back pay.
TRCPA: That's ususally the case, but on the OTC they are usually exercised in lieu of salary, then sold immediately for the cash. Since the option price pretty much equals the market sales price, no capital gains taxes.
Another 10 million shares for options, so that leaves only 10 million or so in the OS for funding operations? Is that a total of 30 million shares in options?
ichjw: What makes you think there is a chance AGES is involved? TIA.
VMHVF filing is out. Looks like dilution there will start big time, equity line = dilution.
"Our auditors have issued a going concern opinion regarding the financial statements. This means that they are uncertain as to our being able to continue as an on-going business for the next twelve months. To address this concern management has secured an equity line purchase agreement with A.I. International Corporate Holdings Ltd. for up to $10,000,000. The Company expects to start to draw on this equity line in the third quarter to finance inventory and purchase of equipment that will fully automate the rental procedures."
Also, it's human nature to "love" the posters that reinforce our investment decisions and "hate" the posters that say we may be wrong.
Guys, we all post to discuss stocks and we all have different opinions. If we didn't, there really wouldn't be a stock "market". We should post our opinions and argue our points without personal attacks (which I have been guilty of in the past, and may slip in the future! LOL!). Some posters are more hard-headed than others about their opinions, but so be it. Bottom line, it's our own money being invested or not. "Pumping" or "Bashing" doesn't have a long term effect on a stock price, IMO, what the company does or doesn't do determines the pps. Good luck to all, everyone is trying to make money in the market and I appreciate tips, and discussion, from anyone.
TRCPA: So if I "hang around" that is a confirmation to you of FASC's success, ie., your comfort level? Now that is an investment indicator I haven't used yet! LOL! Is that called "the final straw" indicator?
TRCPA: I think I'm closer to the truth than you are, just check back on old posts, always so "close" to deals and the deals that do happen (Zeolite) suck. I'll stick around, may pick up some good stock tips in the weeks ahead as the FASC longs start looking! LOL!
Looks to me FASC will run out of shares before any "substantial" revenue starts coming in. I don't think Zeolite will do anything revenue wise except maybe breakeven for that business. Any "irons-in-the-fire" that bear fruit will probably eat up the rest of the shares "gearing up" not to mention this year's bonus, if any. "Loyal longs" beginning to see better oportunities elsewhere, TRCPA and Janes may be the final bagholders! Mitsui finally did the patent thing, another year to study the "market"? Eight years or so should be long enough for a "start-up" to determine if they really have a marketable product or just a government handout test machine.
OT: Waitedg:
QLHC financials available "soon", did you sign up for their mailing list when they become available?
http://www.qlhc.net/financial.php
OT: Waitedg:
Did you find any more info on QLHC like the OS? It has been steadily dropping since you mentioned it. Hope you aren't jumping in blind on that one without even knowing the total shares. I haven't been able to find out anything else about it, I would call, but being on the pinks they can say pretty much anything.
Another fluff PR from ALMI, too bad they can't include "intent" to purchase another KDS from FASC. Need a better Buddy System, IMO.
http://biz.yahoo.com/prnews/050209/lnw003_1.html
Peanut butter and bio-gas?
sambeaux: And I thought the diesel generator was moving it.
Waitedg: OT
A better "play" for you might be HOMI, only 9 million OS and at least they are OTC listed and file with the SEC. About the same share price as QLHC. I don't own any at this point, just watching, it has dropped back in pps from a few weeks ago. If I do buy, it will be a short term holding probably.
Waitedg: OT
I believe the "analyst's evaluation" of QLHC was paid for with shares.
Your DD reads like a nice story, but is it fact or fiction?
There is little financial info on the company and what is available is out of date. I'm also sure you will get exciting, glowing reports from IR and management of the facility that you are moving to. I'll put it on my watch list and let's check it from time to time to see if any audited figures are released or if it bears "fruit". I think you could do much better with a a company like GLW which may pull a K-Mart type turnaround in the next couple of years, but good luck to you!
Waitedg: OT
Did find this, but it's old info and doesn't mean much, IMO.
QLHC -- Quality of Life Health Corp.
Com ($0.001)
Address:
18919 St. Albans Rd.
1st Floor
St. Louis, MO 63038
USA
Website: http://www.qlhc.net
Phone: 641-470-1440
Business Description: Not Available
State of Incorporation: NY
Officers:
Larry Stockman, Pres.; David Todt, Sec't.
Outstanding Shares: 16,000,000 as of 2004-04-08
Estimated Market Cap: Not Available
Current Capital Change:
shs decreased by 1 for 100 split
Ex-Date:
Record Date:
Pay Date: 2003-03-04
Dividends:
Company Notes:
Formerly=Amzac Resources, Inc. until 7-98
Formerly=Royal Pictures, Inc. until 7-01
Formerly=Iconfidential Inc. until 3-03
Class Notes:
Capital Change=shs decreased by 1 for 8 split. Pay-date=5-15-98.
Capital Change=shs decreased by 1 for 20 split. Pay date=07/09/2001.
Transfer Agent:
Olde Monmouth Stock Transfer Co., Inc., Atlantic Highlands, NJ 07716
Waitedg: OT
QLHC is pink sheet and no info is available via Yahoo or filings. I did see an LOI with another pink sheeted company for convertible preferred stock which means mucho dilution, IMO. Do you have any info on OS? If not, how can you buy stock in a company with such little info out there? That's like buying a car without looking under the hood to see if there is an engine or a wind up rubber-band motor! Maybe it's a momo play, but not for me, good luck.
LOS ANGELES, March 9, 2004 (PRIMEZONE) -- Quality of Life Health Corporation (QLHC) entered into a letter of intent with Queench, Inc. (Other OTC:QENC.PK - News) to sell $10 million of Series B preferred convertible stock to Queench, Inc. and affiliates, and provide a three year exclusive marketing agreement for sales of Queench products to QLHC companies.
Waitedg: I think you get a little emotional about posters. Maybe you invest too much based on your emotions rather than cold, hard facts? Until the company releases some meat-news, the only discussion points are past history and fundamentals.
I think some get upset because they are aware of the negative facts and just don't want to be reminded. I usually just respond to the "spin" that doesn't make sense (to me) hoping for discussion. I'm just interested in the energy sector and what may be down the road including biomass. You and I have seen much in industrial and technical advancements over the years, I think my Dad's first car was a Ford Model A! It's pretty exciting what the future can bring and I would really like to hold a few stocks that will participate mainly to leave nice nest eggs for kids and grandkids. For me, I'm can be pretty much happy with a bed, bathroom, computer, and fishing pole (but don't tell my wife that! LOL!). I really hope FASC pays off for you, I think you must be pretty heavily committed here.
"We live in a world that has only begun to consume energy. Today India and China are gaining rapidly on Europe and America in per capita energy consumption.
During the next 50 years, as Earth's population expands from 6 billion toward 9 billion, humanity will consume more energy than the combined total used in all previous history.
With carbon emissions now threatening the very stability of the biosphere, the security of our world requires a massive transformation to clean energy.
"Renewables" like solar, wind and biomass can help. But only nuclear power offers clean, environmentally friendly energy on a massive scale.
Fortunately, this urgently needed expansion can now build on a half-century of tremendous advance in the safe and secure operation of nuclear technology.
We are confident that an informed public debate - focused on facts rather than myths - will demonstrate that nuclear energy is indispensable to sustainable global development."
http://www.world-nuclear.org/
Small Alaska village eyeing nuclear power
04 Feb 2005 05:10:37 GMT
Source: Reuters
ANCHORAGE, Alaska, Feb 3 (Reuters) - Fed up with the hassles of importing expensive diesel fuel, residents of one interior Alaska village are trying to install a miniature nuclear reactor that advocates say could be a model for clean energy production in remote sites.
Officials in Galena, an Athabascan Indian village on the Yukon River, are pursuing an offer from Toshiba Corp. <6502.T> to install an experimental reactor that would heat and light the town.
The 700 residents of the village, 275 miles (440 km) west of Fairbanks, say they have to cope with electricity bills that are three times the national average.
The reactor would be free and require no attendance, Toshiba says. Galena would pay for only the operating costs, according to news reports.
Galena officials met with the Nuclear Regulatory Commission in Washington, D.C., on Wednesday. If the commission approves the plan, the reactor would be the first new one permitted in the United States since the early 1980s, according to an Alaska Public Radio Network report on Thursday.
Energy to power electricity is important to Galena. Winter temperatures can dip below minus 60 degrees Fahrenheit (minus 51 Celsius). Daylight is scarce because of the short days during the winter.
Galena is powered by generators burning diesel that is barged in during the Yukon River's ice-free months. That is costly and carries its own environmental risks because diesel can spill.
Tribal officials from around the region and environmentalists say they are suspicious of the nuclear proposal.
"Why is Toshiba doing this, giving it away for free, trying to foist this experimental technology on rural Alaska when they can't even license this in Japan?" said Pam Miller, program manager for Alaska Community Action on Toxics, an Anchorage-based environmental group.
OT: From another board. LOL!
"I am not on this board to bicker with gamblers, white trash, surfer trash, or house wives daytrading for a sense of purpose. I am looking for real analysis and thought insight into the stock."
TRCPA: I thought you guys liked to discuss FASC?
TRCPA: I think they probably "buy" their options with money owed them by FASC, salaries, loans, expenses, etc. Just a paper credit/debit, no "cash" out of pocket. So they take a little hit on their sale, so what, just give themselves a bonus to make up for it. I doubt they will exercise the more expensive options, why bother when they can issue themselves cheaper ones without shareholder approval. Just because they expire this year doesn't mean the pps is going to go up.
Waitedg: I tried the Rose-colored glassed, but they blurred my vision! LOL! I think FASC is getting too close to the authorized, don't forget they approved about 20 million shares for options alone in the past year or so. Besides, if they pay themselves $100,000 in bonuses with little revenue, just think how they'll drool if cash starts coming in, probably double or triple salaries or bonuses. If I get "lost in the dust", so be it, the markets aren't a one horse show, take a look around. Maybe I'll just have to buy at 10 cents if they ever do develop repeat business of any value. In the meantime, too many better investments out there, IMO.
TRCPA: ????? Management dumped over 1.5 million shares in December and you are talking about old option prices? They sold while the longs here are buying up their shares thinking "big" news is coming? What's wrong with that picture? It looks like a Picasso, IMO! LOL!
SHO 'nuff!!! One company's check on SHO, is FASC doing the same?
NewMarket Releases Shareholder Letter Regarding the First Month of Trading Under SEC Regulation SHO
Wednesday February 2, 10:05 am ET
UBS Capital Markets, Formerly Schwab Capital Markets, Largest Market Maker by Share Volume in NewMarket Technology Inc.
DALLAS--(BUSINESS WIRE)--Feb. 2, 2005-- NewMarket Technology Inc. (OTCBB:NMKT - News) released a letter today to shareholders addressing the new SEC Regulation SHO. The letter is included in this press release.
Dear Fellow Shareholders,
The first month under Regulation SHO has just closed. This correspondence is in response to the numerous inquiries recently from shareholders regarding Regulation SHO as it might apply to NewMarket. Management is encouraged by the potential of Regulation SHO to limit trading volatility from irregular, excessive and improperly documented short sales and we have taken extra measures to contribute to the intent of Regulation SHO. Supervision of the new compliance requirements under Regulation SHO is a large undertaking for an already burdened SEC. We anticipate the market wide impact on irregular and excessive short sales to take a considerable amount of time. Accordingly, NewMarket has undertaken a pro-active effort to communicate with market participants active in the trading of NewMarket shares in regard to trading activity that could indicate potential violations of the new Regulation SHO.
Short selling itself is not illegal. However, the regulations associated with short selling are very specific. A short sale is the sale of a borrowed security. The new Regulation SHO clearly requires that the existence of the borrowed stock be documented prior to the execution of a short sale. Regulation SHO states, "The locate must be made and documented prior to effecting a short sale, regardless of whether the seller's short position may be closed out by purchasing securities in the same day."
Market makers are exempt from the uniform "locate" requirement in order to support a fluid trading environment. The broker dealer executing the order bears the "locate" responsibility. Market makers that are also broker dealers will be required to comply with the "locate" requirement as it applies to their broker dealer activity. Market makers are only exempt as it applies to bona-fide market making. If a market maker posts continually at or near the best offer, but does not also post at or near the best bid, the market maker loses the "locate" exemption.
In the interests of shareholders, NewMarket has initiated an effort to monitor daily trading. When a market maker's posted sales appear disproportionate with their posted purchases, we now initiate a written communication to the market maker to bring their attention to the potential of a "locate" violation. This is not a communication to direct or insinuate wrongdoing. On the contrary, our intention is to cooperate with market makers in an effort manage an efficient market in compliance with Regulation SHO. We recognize the fast-paced environment of the trading activity and we further recognize how in such an environment a market maker might be an unknowing conduit for short sales out of compliance with the new "locate" regulation.
In the last month we have sent correspondences to numerous market makers in regard to potential "locate" violations. We have sent several correspondences to the top four most active market makers by share volume. All market makers contacted, with the exception of UBS Capital Markets (SCHB), formerly know as Schwab Capital Markets, have responded. UBS Capital Markets was the largest market maker by volume in January at 32% of the 15 million shares traded. UBS Capital Markets has been the largest market maker in NewMarket stock by volume for the last three months. We recognize that UBS is one of the most active market makers in micro-cap trading and NewMarket is just one of many issues it trades, but we will continue in our communications to facilitate our genuine and sincere efforts to cooperate with the intent of Regulation SHO.
We will continue in our efforts to proactively support an efficient market and we will likewise continue to communicate with shareholders in our ongoing efforts.
Best Regards
Philip Verges
CEO and Chairman
NewMarket Technology Inc
About NewMarket Technology, Inc. (www.newmarkettechnology.com)
In 2002, NewMarket launched a business plan to continuously introduce emerging communication technologies to market. The plan included a financing model for early technologies and an approach to creating economies of scale through a specialized service and support organization intended specifically for the emerging technology industry. The Company posted six consecutive profitable quarters through 2003 and established an annualized $15 million in revenue. In 2004, the Company diversified its communications technology offering into the healthcare and homeland security industries with the respective acquisitions of Medical Office Software Inc. and Digital Computer Integration Corp (DCI). The Company has expanded sales into Asia, Latin America and Canada through the acquisitions of Infotel Technologies in Singapore, RKM IT Solutions of Caracas, Venezuela, and Logicorp respectively. The company recently announced its first spinoff with the acquisition by Defense Technology Systems (OTCBB:DFTS - News) of NewMarket's Homeland Security subsidiary, DCI, for stock. NewMarket shareholders will receive a property dividend in the form of DFTS stock at a later date.
This press release contains statements (such as projections regarding future performance) that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to those detailed from time to time in the Company's filings with the Securities and Exchange Commission.
--------------------------------------------------------------------------------
Contact:
NewMarket Technology, Inc.
Rick Lutz, 404-261-1196
ir@ipvoice.com
www.newmarkettechnology.com
www.ipvoice.com