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Why don't you call him instead.
ECASH, Inc.
28 Baiting Place Road, Farmingdale, New York 11735
(631) 777-2772
What is the telephone number for ECAS corporate office?
Gary can't tell you anything because he is not part of the new company. It is now under new management. Doesn't someone answer the telephone when you call Ecash?
After the reverse split, some PRs still need to be issued before there is any demand in this stock for the price to go up.
The reverse split will definitely take place tomorrow under the new symbol of ECSI.
Merger effective today. Now need 10 business days after notifying brokers before trading with new symbol.
Avery Sports Turf, Inc.
2535 Pilot Knob Road, Suite 118
Mendota Heights MN 55120
CONSENT
THIS CONSENT IS SOLICITED ON BEHALF OF
THE BOARD OF DIRECTORS OF AVERY SPORTS TURF, INC.
The undersigned stockholder of Avery Sports Turf, Inc. (the "Company") hereby consents, pursuant to Section 228(a) of the Delaware General Corporation Law, with respect to all shares of common stock, par value $.001 per share, of the Company held by the undersigned, to the following actions without a meeting, without prior notice and without a vote.
Proposal (1): To approve amendments to the Company's Certificate of Incorporation, reclassifying and reverse splitting the issued and outstanding common shares by a factor of 400 to 1, and changing the name of the Company to "E-Cash, Inc.";
CONSENT______ CONSENT WITHHELD______ ABSTAIN_____
If no space is marked above with respect to Proposal 1, the undersigned will be deemed to consent to such proposal.
AND
Proposal (2): To approve the Agreement and Plan of Reorganization between the Company and the shareholder of E-Cash, Inc., a New Jersey corporation.
CONSENT______ CONSENT WITHHELD______ ABSTAIN_____
If no space is marked above with respect to Proposal 2, the undersigned will be deemed to consent to such proposal.
PLEASE SIGN, DATE AND RETURN THIS CONSENT PROMPTLY, USING THE ENCLOSED ENVELOPE. JOINT OWNERS SHOULD EACH SIGN PERSONALLY. IF SIGNING AS ATTORNEY, EXECUTOR, ADMINISTRATOR, TRUSTEE OR GUARDIAN, PLEASE INCLUDE YOUR FULL TITLE. CORPORATE CONSENTS MUST BE SIGNED BY AN AUTHORIZED OFFICER.
Date: May ________, 2006 (Date is Mandatory for all Consents)
___________________________________
(Printed Name of Stockholder)
_______________________ ___________________________________
(Number of Shares Held) (Signature of Stockholder)
___________________________________
(Signature of Stockholder, if held
jointly)
Avery Sports Turf, Inc.
2535 Pilot Knob Road, Suite 118
Mendota Heights MN 55120
CONSENT
THIS CONSENT IS SOLICITED ON BEHALF OF
THE BOARD OF DIRECTORS OF AVERY SPORTS TURF, INC.
The undersigned stockholder of Avery Sports Turf, Inc. (the "Company") hereby consents, pursuant to Section 228(a) of the Delaware General Corporation Law, with respect to all shares of common stock, par value $.001 per share, of the Company held by the undersigned, to the following actions without a meeting, without prior notice and without a vote.
Proposal (1): To approve amendments to the Company's Certificate of Incorporation, reclassifying and reverse splitting the issued and outstanding common shares by a factor of 400 to 1, and changing the name of the Company to "E-Cash, Inc.";
CONSENT______ CONSENT WITHHELD______ ABSTAIN_____
If no space is marked above with respect to Proposal 1, the undersigned will be deemed to consent to such proposal.
AND
Proposal (2): To approve the Agreement and Plan of Reorganization between the Company and the shareholder of E-Cash, Inc., a New Jersey corporation.
CONSENT______ CONSENT WITHHELD______ ABSTAIN_____
If no space is marked above with respect to Proposal 2, the undersigned will be deemed to consent to such proposal.
PLEASE SIGN, DATE AND RETURN THIS CONSENT PROMPTLY, USING THE ENCLOSED ENVELOPE. JOINT OWNERS SHOULD EACH SIGN PERSONALLY. IF SIGNING AS ATTORNEY, EXECUTOR, ADMINISTRATOR, TRUSTEE OR GUARDIAN, PLEASE INCLUDE YOUR FULL TITLE. CORPORATE CONSENTS MUST BE SIGNED BY AN AUTHORIZED OFFICER.
Date: May ________, 2006 (Date is Mandatory for all Consents)
___________________________________
(Printed Name of Stockholder)
_______________________ ___________________________________
(Number of Shares Held) (Signature of Stockholder)
___________________________________
(Signature of Stockholder, if held
jointly)
Any news as to when the merger will be completed?
Doubtful if E Cash will sell their restricted shares because then it would start to lose ownership control of the company.
E Cash may not sell any of its 20 million restricted shares. They could just issue new shares. Besides, E Cash can't sell the restricted shares until they become unrestricted? In any case, any new shares issued will also be restricted.
Anyone know when the merger will close?
Also, any new shares issued after the reverse merger will be restricted for at least a year. Therefore, small float for a year.
Debt holders received restricted shares. They cannot cash out for at least a year later.
Nobody is shooting the CCCN price. CCCN only has 2 million outstanding shares and small float any little buying or selling will cause big price fluctuations. Same to happen to E-Cash after reverse merger because its outstanding will only be about 1 million shares with very small float.
STYR was a sub penny but it did a 400 to 1 reverse split and there are only about 2 million shares outstanding now.
It is a moot issue, the proxy is now out.
Proxy and voting are still needed because they are a SEC requirement. Otherwise, the reverse merger cannot take place.
Those shares will still be restricted after the merger.
It is possible or that one creditor purchased shares over and above the debt owed to it and then AVST used that cash to pay off another creditor who did not want to accept the shares in payment for debt.
That is an interesting point. It appears that the creditor thought highly enough of E-Cash to do a private placement over and above the debts owed to them. In other words, the creditors purchased additional shares for cash.
Like any other restricted shares. Wait two years before they are free trading through transfer agent, or wait one year and request unrestriction through your broker but have to sell within a certain time period after they are restricted.
AVST confirmed over the telephone that those shares are still restricted.
Someone previously posted the below.
BUSINESS BACKGROUND REPORT
E CASH INC
DUNS: 00-556-9368 DATE PRINTED: March 8, 2006
===============================================================================
PO BOX 343 MILLBURN, NJ 07041 Year Started: 1999
Control Year: 2001
3 DUNDAR RD This is a Single location.
SPRINGFIELD, NJ 07081
Telephone: 973 467-3979
Sales $11,000,000 (Estimate) Employees Total: 21
Top Executive: BILL MARTUCCI, PRES
===============================================================================
INDUSTRY
Line of Business: ATM SERVICES
Primary SIC:
6099 (ATM SERVICES)
Secondary SIC:
7699
===============================================================================
BUSINESS HISTORY
08/25/05
BILL MARTUCCI, PRES
DIRECTOR(S): THE OFFICER(S)
Corporate Details unavailable.
Business started 1999.
BILL MARTUCCI. Antecedents are undetermined.
On August 24, 2005, the original business report for the company
was created by D&B on 03/08/01. No third party documentation
supporting was available. Therefore 2001 is being used as the Start
Date.
===============================================================================
OPERATIONS
08/25/05 Provides services related to depository banking, specialized as
automated teller machine (ATM) network.
Territory : United States.
EMPLOYEES: 21 which includes officer(s).
FACILITIES: Leases 4,000 sq. ft. in cinder block building.
Call AVST and it will tell that they are still restricted.
It serve no purpose to restrict them only for two weeks.
Held until March 30 and then distributed to the creditors as restricted shares.
It is not possible that those shares are restricted for only two weeks because it wouldn't make sense.
Those shares are restricted as stated in the first sentence "....to be issued 340,877,600 restricted common shares...."
What is interesting is that even if E-Cash issue new shares to private investors after the reverse, the float will still be 1.2 million because the new shares will also be restricted. There will be no liquidity in the stock for trading. Wondering if E-Cash will do some sort of stock split after the reverse and price becomes sufficiently high enough for it to do so. A float of only 1.2 million can cause some price extremes.
The reorganization agreement is completed. Only needs to be approved by shareholders after proxy is issued. The proxy will shows the details of this agreement. Meanwhile, E-Cash will be buying open market shares whenever price dips.
SEC 10K:
On March 28, 2006 the Company signed a reorganization agreement with E-Cash, Inc a New Jersey corporation whose business is the operation of automatic teller machines ("ATM's") that are owned and operated by E-Cash. The ATM machines are placed in various retail locations including supermarkets, convenience stores, restaurants, colleges and other locations not generally serviced by traditional and financial institutions. Under the terms of the agreement the Company will issue 20,000,000 shares of common stock to the shareholders of E-Cash after the company has effected a reverse split of its shares of one new share for each 400 shares presently outstanding. Both the reorganization agreement and reverse split of shares must be approved by the shareholders. The date of the shareholders vote has not yet been scheduled.
Market appears to be waiting for the proxy to see what E-Cash brings into the company.
Obviously, with the float only 1.2 million after the reverse, new shares will be issued to raise additonal capital and keep the stock liquid for trading in market. It would be to E-Cash advantage then to keep the share price high to attract additional capital without excessive issuance of shares.
Also, below from recent 10K. The 20 million shares to be issued to E-Cash will also be restricted. After reverse, float will be less than 1 million shares.
On March 17, 2006, the Company authorized to be issued 340,877,600 restricted common shares of the company at $0.0025 for an aggregate value of $ 852,194, bringing the total outstanding shares of common stock to 497,604,165. These shares are to be held until March 30, 2006 for distribution to the creditors. Of the shares authorized to be issued, 64,000,000 were for cash of $160,000 and 276,877,600 common shares for the reduction of debt of $ 692,219. The cash is being used to reduce the debt not extinguished by the issuances of stock, leaving the Company with liabilities of less than $ 25,000.
On March 28, 2006 the Company signed a reorganization agreement with E-Cash, Inc a New Jersey corporation whose business is the operation of automatic teller machines ("ATM's") that are owned and operated by E-Cash. The ATM machines are placed in various retail locations including supermarkets, convenience stores, restaurants, colleges and other locations not generally serviced by traditional and financial institutions. Under the terms of the agreement the Company will issue 20,000,000 shares of common stock to the shareholders of E-Cash after the company has effected a reverse split of its shares of one new share for each 400 shares presently outstanding. Both the reorganization agreement and reverse split of shares must be approved by the shareholders. The date of the shareholders vote has not yet been scheduled.
Float only about 1.2 million or less after reverse merger.
Assets was included. If sales were $11 million each year, then assets should have been built up to at least $50. Also, this is in terms of net assets after deletion of liabilities or rather net equity. Gross assets could be up to $100 million.
Probably more like at least $50 million assuming E-Cash was making $11 million in sales over past few years.
Need to consider that debt holders took the shares because whatever E-Cash has was better than nothing. Nevertheless, all indications are that E-Cash is bring in great value to AVST. If E-Cash has been making 11 million in sales every year and since ATM operations are low overhead types, E-Cash probably is bring in some large substantial assests into the merged books.