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Notice of effectiveness filed today:
http://www.sec.gov/Archives/edgar/data/1331284/999999999511002948/9999999995-11-002948-index.htm
Since that pretty much is just the green light, here's the F3:
http://www.sec.gov/Archives/edgar/data/1331284/000095015711000695/0000950157-11-000695-index.htm
Good luck with that. EVXA has never shown proof of anything other than proof that they are lining their own pockets with the shareholder's money.
You'd think this would be positive news for this company, yet they dip even further. I wonder if this paragraph in the PR has something to do with it:
If the SEC wants all pinks to be fully reporting so be it. In regards to those who have gone to "alternative reporting standards" and only have, at best, unaudited financials available, is the cost of filing really that prohibitive?
In regards to transfer agents, perhaps a step in the right direction would be to require them to keep and divulge up to date share structures of their clients. I've heard some say TAs grumble at the number of phone calls, but couldn't they keep a spreadsheet posted online that is updated daily?
What is there not to understand? EVXA was paying $8,000 a month (at least) to a company that had the same address and the same officers. This is not an event from 2006, Extractive Technologies is still in existence and still operating from the same address as EVXA.
You cannot say Wingett is not in the picture unless you can establish that he holds no interest or positions in both Extractive Technologies and EVXA. When I emailed the company, Mr. Cheney did not say who the company officers were for Extractive Technologies, nor would he say who held shares of EVXA besides "company officers".
Somehow it never crossed my mind to check the name with the address. From the last quarterly report:
I've noticed when looking at the tier changes on OTCMarkets that Neenah Enterprises (NNHE) seems to move from greys to pinks on a fairly regular basis. They did so (according to their listings) on 9/8, 9/23, 9/27, and 9/29. NNHE isn't the only one either. What gives here?
It's pretty simple really, "Ore-XT3 Technology" sounds good in a PR. Outside of that, there is probably nothing to read up on. It may be what they're allegedly paying Extractive Technologies $8,000 a month for, but good luck finding any information on that.
Deloitte is the accounting firm responsible for counting the Heisman votes. I'm just sayin'...
Until you get official word on cancellation you don't know for sure, but you need to be careful.
As I see it there are three possible scenarios.
In one, shareholders do see something after the reorganization, as in Chemtura. You would still have a stake in the new company, but probably would have done better trading it on the way up.
In the second, you get cancelled and receive nothing, as happened with AbitibiBowater. That one seemed almost criminal to me as the company played quite the shell game with substantial assets.
In the third scenario, the shares are cancelled yet the ticker keeps on trading, like Circuit City. It would seem that this should have been cancelled long ago, but on it goes.
Cancellation of the commons might not be a foregone conclusion, but it doesn't look terribly hopeful here. Ambac hasn't caught a break with anything in the past few years.
Wyoming itself doesn't hang a shingle, but the Agents certainly do. From a website I posted earlier:
Or Wyoming. Both EVXA and PYBX pulled up stakes and went from Nevada to Wyoming. The page for their registered agent pretty much sums it up: http://wyomingcompany.com/
A company claiming to have annual sales of 10 million and nothing on Manta, linkedin, the yellow pages, no physical addresses given on their website, as far as I can tell no one by any of the Con-X permutations incorporated in Canada...
Yeah, but I probably haven't found the addresses because I lack "skillz".
I'm not a "hater" nor am I angry about past reverse splits. Situations like this where information is hard to come by help me hone my DD skills. Speaking of which, what were the addresses for Con-X in Canada that you found? I've come up empty thus far.
Somebody ponied up $200, woo hoo! Like many others, I've had this sitting and collecting dust for a couple of years now. It really can't go lower than what I bought it for without a split, so thus far no harm no foul other than tying up some lottery money.
Like many have said, all they need to do is announce that they are still in business and give some idea of revenues and this could show some signs of life.
You'd think one of the nurses could tell them that their patient is dying. Hell, stockcharts doesn't even have a chart for them anymore.
I am not and will never hold a short position here. It would be nice if I could satisfy the margin requirements to do so, but I don't. I honestly don't think that there is anyone shorting this at all for just that reason. You're going to keep 2.5 million in an account to short one million shares of EVXA?
As far as share reduction goes, it makes sense for the company to do so, but how do you verify that? The financial report for this period won't be seen until at least November, and the TA is gagged. The authorized and preferred conversion rates can be found on the Wyoming SOS site, but that only gives you part of the picture. Your only option is to contact the company itself and see if they will give information on the share structure and do so accurately.
It could actually be good in the short term. I've never known a paid promotion to be a good thing in the long term. And of course, it raises more questions. What "third party" is paying for the promotion? Why? Is EVXA involved or one of the insiders footing the bill for it? How big is the float growing while this is being promoted?
This a paid advertisement.
Rule 17B requires disclosure of payment for investor relations. We have been compensated on 09-20-11 five thousand dollars by a third party for one week advertisement for Enviroxtract, Inc.
So, probably the same outfit as Investorenews.com.
Rule 17B requires disclosure of payment for investor relations. We have been compensated on 09-20-11 five thousand dollars by a third party for one week advertisement for Enviroxtract, Inc.
Well, tried the TA today. I called, asked for EVXA's share structure, and was put on hold for 15 minutes. Then I was disconnected. I called back and was told that they don't give that information. She couldn't explain why I was put on hold, since it is their policy not to divulge the OS or the float.
So, long story short, EVXA has chosen a TA that is gagged by default.
Wow, that's what a friend of mine would call b@11s that clank. If I was a daytrader, maybe. There is just too much of a history here that I don't see changing.
Just remember that it took about three weeks for anyone to see their shares after the split on 10/28/10, so when it gets close to splitting time, be ready!
If you look back at my recent posts you'll get some idea of what the numbers are (as best as I can figure, I think I'll call Olde Monmouth tomorrow), who is involved here, and perhaps more importantly, the questions that haven't been answered.
The news from 2009 included a name that tells me "don't walk, run!".
That article summary suggests that things are "business as usual", but that some sleight of hand may be at work here. It seems that shifting assets and operations to another company and leaving LGFTY twisting in the wind is what they're suggesting.
Longtop is dancing between Chinese and American regulations to keep from fully opening their books. If this is to get their story straight and do damage control or to take the money and run remains to be seen.
The question is how much can they get away with? There are a LOT of big players who got a black eye on this one. If Chinese regulators don't respond to this situation, Chinese companies may find it hard to raise capital in other markets. The big boys, having been bitten once (or twice, LGFTY isn't the only Chinese ticker with issues), may not touch future offerings with a ten foot chopstick.
You've seen some sort of financial disclosures from Con-X? Where?
I fully expected to see this get a beating based on that filing, and it really didn't. The volume has been low, but the price stayed fairly stable. They really need to do something to bring up the PPS if they're going to stay on the Naz, and I'm surprised that they still are.
There is still quite a bit of potential here, the question is when it will be realized. TELK is in serious need of one of their drugs to get on the market. Once that happens, I see this as having major potential for a long term investment.
That link is exactly what I'm talking about. Bloomberg only has information gleaned from a press release. No addresses, no officers, and no board members listed. Looking at the Con-X website, I see that pictures and two new contacts have been added in the past couple of days. Conveniently, EVXA's new CEO now has bio information that claims "extensive leadership experience in the Construction and Building Industry". Maybe he does, but I just find it odd that there is no mention of that before they put out the PR about Con-X.
We have no real details about who and what Con-X is.
We have no real details about who and what Extractive Technologies is.
We have no real details about who and what Creationworks is.
Lets look at the share structure over the past two years:
12/31/09
AS 1,000,000,000
OS 404,775,793
Tradeable 390,184,481
There was a 1:500 reverse split on 3/11/10, yet the AS almost triples and the OS almost quadruples.
3/31/10
AS 2,800,000,000
OS 1,600,809,652
Tradeable 809,652
6/30/10
AS 3,800,000,000
OS 3,020,809,652
Tradeable 820,780,457
9/30/10
AS 100,000,000,000
OS 6,390,809,652
Tradeable 4,165,864,000
There was a 1:1000 reverse split on 10/28/10. The OS grew by almost seven times two days later?
10/31/10
AS 100,000,000,000
OS 41,306,391,024
Tradeable 6,604,190,897
3/31/11
AS 100,000,000,000
OS 41,306,391,024
Tradeable 7,304,184,197
On 4/15/11 we had another 1:1000 reverse split.
Now we have a reduction in authorized shares (by half) as well as retirement or a change in conversion rates of the preferred stock.
There is also (as of 3/31/11) $9,421 cash available at the end of the period, and a net loss during the period of $44,338.
How did they acquire Con-X?
How did they acquire Creationworks?
How are they paying Extractive Technologies $8,00 a month?
And who and what are these companies?
I realize that I bore some of you, and others want to give me snarky nicknames, but all I'm offering here is facts to support my opinions and questions that have not been answered. There is no ulterior motive, I hold no shares (what I kept after trading this was reversed into nothing), and don't intend on doing so ever again. It is my opinion that no one but the company is selling shares, that no one is shorting this, and that "new management" claims aside, you'll see more of what has been going over the last two years here.
Yes, I'd really like to see the addresses in Cananda.
Do you take the 15-12G as a sign that something might be up, or do you think they're just avoiding hassles from the SEC due to not be up to date with their filings?
This has been diluted to death. Had you held 500,000,000 shares in February of 2010, you would now be holding one share. There is a lot of talk here about new management, but aside from the CEO, its the same crowd.
To be fair, there has been a reduction in the authorized shares as well as a change in conversion rates for the preferred shares. Odds are that this is just giving the illusion that things are tightening up. I think that most, if not all, of the volume of the past few weeks is the company selling shares. After the splits, who else has them?
I'd suggest two things.
First, go look at the quarterly statements for EVXA that are posted on otcmarkets.com, specifically at the share counts. Then look at when the three splits took place. Check the math again. Strange, huh? Unaudited goes without saying.
Second, try to find a physical address for Con-X construction or Extractive Technologies. Try to find anything else about them that isn't from a press release. You can do the same for Creationworks, and that will actually get you an address (residential) and filings with Sunbiz, but not much else.
So the construction company that was wholly owned by PYBX is now in the hands of EVXA?
http://dcnonl.com/nw/25213/cb
Note this line in the article:
I fully expected this to drop quite a bit today considering the upcoming split. AVOE actually held up well with quite a bit of volume. The question now is what prompted the split?
Really? If this went to .02, that would mean a market cap of $14,6083,683.94, and that's just considering what they are calling "freely tradable" shares. If you figure all the shares outstanding (as of 3/31/11) it would be $826,127,820.48, or slightly less than the market cap of Rite Aid. What would justify that?
No, but the guys who own the slot machines get paid in preferred tokens that each convert to 500,000 regular tokens.
Well, I don't know that it will benefit the shareholders. I also don't know if AVOE is trying to uplist or not. The first time I saw the filing was after I saw your post.
It strikes me as a bit odd since the issued shares are somewhere near 40% of the authorized. We could speculate about the motives of the company here, but I'd rather hear official word as to why this is happening.
What your link goes to is Creationworks Group LLC
The spin here is that a new CEO will take EVXA in a new direction. He merged his company into this outfit and then took the helm.
As far as I can tell, Creationworks is a year old outfit that exists solely as articles of incorporation and PRs. I've also noticed that another business, Creationworks Group, is located at the same address as Creationworks and changed from "other business entity" to "Florida profit corporation" on 4/28/11. On 4/15/11 their registered agent changed from James Cheney to Taylor Cheney. I wonder what they do and who pays them?
Also on 4/28/11 James Cheney became registered agent and Dennis Atkins became the CEO of Norris Oscar Corporation.
I wish everyone well here, but this thing has more red flags than a Chinese parade.
I have to admit I'm a bit baffled by that PR. In the wake of Irene we'll be doing our job? It seemed a bit more like an advertisement than a PR.
The questions were focused, but the answers were not. I don't know any more about the two companies (Creationworks and Extractive Technologies) that I asked about than I did before. I don't know who any of the officers are besides Cheney or where one of them is even located. Maybe there are a stack of NDAs on his desk and he really can't discuss anything about these two companies.
Apparently no officers hold more than 10% of restricted commons, but I have no idea how many preferred shares they hold, what type, and if they are at all restricted. That aside, it seems odd that no one at the company holds a majority of shares. Not impossible, just odd.
Who, if anyone, does hold a majority of common shares? I have no idea, since that question wasn't answered.
As far as moving to Wyoming, I have a fairly good idea why that took place based on their mailing address in that state.
I am aware that the company can only give publicly available information to individuals. What I don't get is why none of this is publicly available.
Well, they are returning emails these days, or at least Mr. Cheney is.
Here is the rundown:
He didn't say why they moved to Wyoming, simply stating that he wasn't with the company at the time.
He informed me that company officers held both restricted common and preferred shares. None hold more than 10% of common stock. I had asked which officers held shares and how many, but this was as specific as he got.
My question about other holders of more than 10% and what (if any) restrictions there were on those shares went unanswered.
I asked about Creationworks in regards to other clients, projects, and company officers. According to Cheney, they're involved in engineering, design, and fabrication work for EVXA and others.
I asked the same about Extractive technologies and was told that Extractive Technologies, Inc. is a privately owned company that develops various technologies and has other customers besides EnviroXtract.
He ended by saying that the Company is limited to providing only publicly available information to its shareholders under SEC regulations.
So there is the reply, for what it's worth.