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AXGJ is not the stock to buy in this instance - MSEM is.
The perfomrmance will now be based on Yeung and the new direction of the business. MSEM is no longer a motorsports company but an international design corporation with major contracts in China, and they are looking to expand, that is why they are buying this division of Axia and the contracts to basically rebuild this city.
It looks like Yeung has been planning this for awhile and needed a shell in order to make the deal happen, his company at that time was not publicly traded, this one now is.
News from back on March 20:
Axia Group Inc. Agrees to Sell International Building Technologies Inc. Subsidiary for Cash, Stock and Royalties on China Contract
Axia Group, Inc. (OTC: AXGJ), announced today that it has signed a term sheet with a developer of the panel production system to sell the company's subsidiary, International Building Technologies, Inc. (IBT), in exchange for cash, common stock in the Buyer' public company, and a royalty on future revenues. The name of the Buyer is being withheld until the Final Agreement between the Parties is reached, which is expected next week.
Axia is a provider of a panel-based building technology for the rapid construction of homes and commercial buildings. Its subsidiary, IBT, recently signed a Memorandum of Understanding with the Chinese government to install and operate a panel factory to support the rebuilding of the city of Suijiang in the Yunnan Province in China. IBT was also involved in Letters Of Intent to establish operations in Central America and Dubai. Under the proposed term sheet with Axia, the Buyer will be free to pursue those business opportunities as well as freely use and exploit the IBT name.
Stated Jeffrey Flannery, "We have come to the realization that the project in China and our global expansion plans were simply too large in scope and too aggressive for Axia at this stage in its development. The China contract alone required us to come up with 20 million RMB (approximately $2.5 million USD). The Suijiang plant would cost another $4 million USD to build and operate. We cannot offer the type and level of financing that these projects require. At the same time, new and very profitable projects in Sri Lanka and nearby areas were not being developed aggressively enough. Our focus will be to take advantage of the opportunities we have earned in these areas, representing millions of dollars in business for Axia."
Added Flannery, "The exciting news is we have found a partner who is willing and able to finance these projects as well as allow us to benefit from all the work we have done. I feel we have negotiated a very fair deal with the Buyer of IBT which allows us, and particularly the shareholders of Axia, to benefit for the long term. The following are the basic terms of the proposed agreement, some of which are still being finalized:
* Up to $1,000,000 in cash, while payable over 5 years, will greatly reduce our need to raise money in the market for our operations. * Common Stock in the Buyer's public company. We plan to dividend out 100% of the stock Axia receives from the Buyer to the Axia Shareholders. In this way, Axia shareholders will have a chance to benefit from the Chinese developments. * Royalty payments from the gross profits from the Project in China for three years. * The Buyer is a developer and manufacturer of the panel system Axia uses and has agreed to supply Axia with the machinery, equipment and support to establish a panel factory in Sri Lanka, which will greatly improve Axia's profit margins and competitiveness in the local market place as well as be an exporter of panels to the region. * Finally, the Buyer has agreed to extend a license agreement to Axia for five years, with the first two years of license payments waived.
"We expect the transaction to be completed within 10 days, and final terms will be published at that time. In the meantime, we wanted the shareholders to be informed of this developing and, we believe, promising transaction."
More information on Axia Group, Inc. can be found on the company web site at www.axiagroup.info.
I just took a loss on EDXC - and will be adding more MSEM before this news gets any bigger
MSEM giong a new direction under new ownership:
Axia Group Inc. Signs Letter of Intent to Sell International Building Technologies Inc.
Tuesday April 17, 10:00 am ET
SAN DIEGO, April 17 /PRNewswire-FirstCall/ -- Axia Group, Inc. (OTC: AXGJ - News), announced today that it has furthered its negotiations to sell International Building Technologies, Inc. (IBT) by signing a nonbinding Letter of Intent with Motorsports Emporium, Inc. (OTC Bulletin Board: MSEM - News), the proposed purchaser of the subsidiary. MSEM will take over responsibilities set forth in IBT's Memorandum of Understanding with the Chinese government to build a panel production plant in the city of Suijiang. MSEM will also have the rights to pursue IBT leads in Central America, the United States and the United Arab Emirates. In return, Axia will receive $1 million in cash, 20 million shares of common stock in MSEM, and royalties on gross sales from the China project for the next three years. The sale is pending due diligence and the execution of a Final Agreement between the Parties.
Stated Jeffrey Flannery, "This Letter of Intent with MSEM further clarifies the terms of the proposed sale of IBT, a transaction we now hope to close in the near future. MSEM has assembled a management team that is experienced in the panel production methodology, and is dedicated to furthering the deployment of this building system worldwide. Axia will be able to focus on the critical region of Sri Lanka and Southeast Asia, as well as receive ongoing support from MSEM."
Stated Kenneth Yeung, President of MSEM, "The primary focus of MSEM will be to support and market the building technology that Axia has so successful introduced to many countries. We are obviously very aware of the role Axia has had in establishing the validity and utility of the panel technology, and so IBT, as an integral part of MSEM, will continue that hard work and strive to bring new projects to fruition throughout the world."
More information on Axia Group, Inc. can be found on the company web site at www.axiagroup.info. Information on IBT can be found at www.ibtgi.com.
I guess this means Yeung is taking MSEM in a completely different direction now, and using the shares as a shell for this new business.
Time to start adding more shares?
Wow, here's the complete text:
Axia Group Inc. Signs Letter of Intent to Sell International Building Technologies Inc.
Tuesday April 17, 10:00 am ET
SAN DIEGO, April 17 /PRNewswire-FirstCall/ -- Axia Group, Inc. (OTC: AXGJ - News), announced today that it has furthered its negotiations to sell International Building Technologies, Inc. (IBT) by signing a nonbinding Letter of Intent with Motorsports Emporium, Inc. (OTC Bulletin Board: MSEM - News), the proposed purchaser of the subsidiary. MSEM will take over responsibilities set forth in IBT's Memorandum of Understanding with the Chinese government to build a panel production plant in the city of Suijiang. MSEM will also have the rights to pursue IBT leads in Central America, the United States and the United Arab Emirates. In return, Axia will receive $1 million in cash, 20 million shares of common stock in MSEM, and royalties on gross sales from the China project for the next three years. The sale is pending due diligence and the execution of a Final Agreement between the Parties.
Stated Jeffrey Flannery, "This Letter of Intent with MSEM further clarifies the terms of the proposed sale of IBT, a transaction we now hope to close in the near future. MSEM has assembled a management team that is experienced in the panel production methodology, and is dedicated to furthering the deployment of this building system worldwide. Axia will be able to focus on the critical region of Sri Lanka and Southeast Asia, as well as receive ongoing support from MSEM."
Stated Kenneth Yeung, President of MSEM, "The primary focus of MSEM will be to support and market the building technology that Axia has so successful introduced to many countries. We are obviously very aware of the role Axia has had in establishing the validity and utility of the panel technology, and so IBT, as an integral part of MSEM, will continue that hard work and strive to bring new projects to fruition throughout the world."
More information on Axia Group, Inc. can be found on the company web site at www.axiagroup.info. Information on IBT can be found at www.ibtgi.com.
Investors are cautioned that certain statements contained in this document as well as some statements in periodic press releases and some oral statements of AXGJ officials are "Forward-Looking Statements" within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act"). Forward-looking statements include statements which are predictive in nature, which depend upon or refer to future events or conditions, which include words such as "believes," "anticipates," "intends," "plans," "expects," and similar expressions. In addition, any statements concerning future financial performance (including future revenues, earnings or growth rates), ongoing business strategies or prospects, and possible future AXGJ actions, which may be provided by management, are also forward-looking statements as defined by the Act. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance, or achievements expressed or implied by such forward-looking statements and to vary significantly from reporting period to reporting period. Although management believes that the assumptions made and expectations reflected in the forward-looking statements are reasonable, there is no assurance that the underlying assumptions will, in fact, prove to be correct or that actual future results will not be different from the expectations expressed in this report. These statements are not guarantees of future performance and AXGJ has no specific intention to update these statements.
Agreed, stick your DVD in your DVD player.
IMO the aTV is to watch the things you have downloaded to your computer only.
Although, the people that are ripping DVD's to their hard drives are probaly watching them once when they rent them, then ripping them so they can view them multiple times - getting thheir money's worth, so to speak.
Value Click up 6% pre-market, Google's purchase of Double Click is going to push a lot of online advertisers to Value, could be an excellent run coming.
Done man - sorry I didn't get around to it sooner.
You just...
okay - now I really want to know what Yeung has going on here. What is happening?
Excluding general and administrative costs that are not specifically identifiable to Scottsdale Diecast, the division generated pretax income of $991 and $44,229 for the years ended December 31, 2006 and 2005, respectively.
$991 LOL, I made 3 times that much on eBay last year.
David W. Keaveney and Rhonda Keaveney have agreed to resign
their directorships within a few days of filing this form 10-KSB.
So it looks as though MSEM at this point will still be operating in the same way it has, selling GS610 and Spray n'Shine. That does not mean that Yeung won't change the direction of the company though. It was a few months after Keaveny took hold of TNTI that the change to motorsports was announced.
Running video games on aTV:
Current OS: 4,368,718
Info is in the iBox above.
Happy Easter to all this weekend!
On the heels of Best Buy adding more AAPL:
The nation's top electronics retailer is pulling away from the competition by improving its stores, staffing with well-trained employees and focusing on the customer. Its latest earnings show that the company is indeed a best buy.
If there were ever any questions about the importance of focusing on the customer, they were answered in Best Buy's (BBY, news, msgs) fourth-quarter earnings report.
The nation's top electronics retailer blew away its competition despite an increasingly tough economy. Its earnings soared 20% on a 21% jump in sales, and same-store sales were up by an impressive 5.9%, beating both the company's and Wall Street's expectations. Clearly, Best Buy's focus on customer satisfaction, combined with its aggressive pricing strategy, worked.
Who was the big loser? Chief rival Circuit City Stores (CC, news, msgs), which announced a quarterly loss of 7 cents a share despite a 1.2% sales gain. Sales at stores open at least a year fell by 0.5% compared with very strong results a year ago. With Circuit City replacing many of its sales associates with less expensive hourly workers in what looks to be yet another ill-fated restructuring, the gap between these two electronic retailers should widen.
Constantly improving customer service
Best Buy succeeds where others fail because of management's current commitment to constantly improving the customer experience. A few years back Best Buy suffered from a reputation of poor service, as its stores were understaffed and the staff undertrained. But management listened and adopted a core strategy dubbed "customer centricity."
This form 3 regards his 200,000 shares of 3/14
1. The Series C Preferred stock has no liquidation rights, no dividend rights, no conversion rights and no redemtion rights. Each share of the Series C Preferred stock has a voting right of 3,000 votes per share granting 600,000,000 votes to Mr. Yeung.
2. Mr. Yeung acquired the Series C Preferred stock from the Company's CEO for $10,000, the exact value amount the CEO exchanged for accrued wages.
3. Mr. Yeung was elected President of the Company on March 14, 2007
She Acquired 5,334 shares on 12/31/06.
I've got 4320 songs, 5 movies and 12 television shows in my pocket.
Doesn't flow quite so well either.
He obviously didn't think the brake fluid and scalecars was enough of a business to invest heavily back then, but now that something different is happening feels there is reason to invest. I still need to see that reason before I put any more of my money into this though.
Not trying to make any correlation with ia&d. The filing clearly states that he is only buying shares for investment purposes. The question still remains though, why is he buiyng shares in MSEM if they have no current business or operations? He must know something or he wouldn't be buying shares. He is now a 10%+ holder in MSEM. I certainly wouldn't buy any shares in any company that has just reportedly sold off all it's assets and it's only form of income (scalecars.com).
Hopefully some light will be shed on the situation with the release of the 10K.
Also Krebs is owned by GL&V (Acquired last year)
Groupe Laperrière & Verreault Inc.’s (GL&V) Class B multiple voting shares and Class A subordinate voting shares are listed on the Toronto Stock Exchange (TSX) under the symbols GLV.B and GLV.A respectively.
Yeung is IA&D, Babyak is Krebs.
Babyak 13D states he is only bought shares for investment purposes:
ITEM 4. PURPOSE OF TRANSACTION
Babyak currently has no plans or proposals that relate to or would result in:
(a) The acquisition by any person of additional securities of Motorsports or the disposition of securities of Motorsports;
(b) An extraordinary corporate transaction, such as a merger, reorganization or liquidation, involving Motorsports or any of its subsidiaries;
(c) A sale or transfer of a material amount of assets of Motorsports or any of its subsidiaries;
(d) Any change in the present board of directors or management of Motorsports, including any plans or proposals to change the number or term of directors or to fill any existing vacancies on the board;
(e) Any material change in the present capitalization or dividend policy of Motorsports;
(f) Any other material change in Motorsports' business or corporate structure;
Google is a great search engine, they have no place being nested on my desktop.
Those guys are definitely not playing any sort of game. We will all soon find out what it going on through the filings.
For now I will hold all shares and now am considering adding more.
Not that it matters but the company Babyak works for is Krebs Engineers:
http://www.krebs.com/
Mr. Babyak acquired all of the 1,011,487 shares for investment purposes. According to the 13D
This man is investing in a business that is "out of business" - I don't think so.
Mr. Babyak is the Global Controller of a company in the business of providing hydrocyclone separation solutions for the recovery and classification of solids, removal of oil from water and severe-duty slurry pumping.
This looks like the company is changing hands completely, and if everyone is right, which I think they are, a symbol change and new company will be announced soon.
iTunes related though... he is just ... well, weird.
I will check that out when I get home thanks.
Still at work here.
It would be nice to see a bulk change name function added to iPhoto.
That way you can name a group of photos summervacation and have extensions automatically added to them.
ie: 01 - 100, if you have 100 photos of your vacation.
Maybe it already exists somewhere in the finder functions and I just don't know?
There is a huge rumor in our business that GOOG is posturing to buy a television broadcasting outlet.
How about just option clicking all the photos you want to send then clicking on the mail button. The photos are automatically resized for your mail needs and the compose window open, easy.
Cool - thanks for clarification
luv,
Unfortunately an LOI is not a contract.
I hope in the case of XTMS it turns into a contract, but the letter doesn't mean anything until it is followed by a signed contract.