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And if they get chap 7, you don't get to sell any.
Maybe they will send you the certs, so you won't need to buy toilet paper for a few months.
GLTA
We still revoked in Nevada??
http://nvsos.gov/SOSEntitySearch/CorpDetails.aspx?lx8nvq=AgVhu28LFHJVrDBGK7BRaw%253d%253d&nt7=0
Yep!! Well at least he shouldn't be able to increase the AS, or RS the shares until he forks over the $6,750 to reinstate.
GLTA
I wonder what changed between Mark's post on January 15:
FINRA made it clear that there was extensive review necessary on each and every press release and there was no estimated date of review finalization but that a Form 10 or S-1 would very likely expedite the review process.
As stated by our FINRA examiner to outside counsel on a phone call in January, the Form 211 will be approved once filed.
Amazed that you believe Kistler....
Brian is currently running a triple zero pump and dump and it has gone on huge volume runs in the past few months. Brian Kistler owns many shells and is CEO. Kistler taught Mark how to run the penny stock game. They have a pretty strong science on pump and dump. When you understand the truth it is easy to see how the scam took place.
I never said it was the company.
I'm talking about the fact that at one point New Opportunity Business Business Solutions (Kistler?) admitted to holding ~10% of the company.
http://www.otcmarkets.com/financialReportViewer?symbol=ADCS&id=105513
Who knows how many he or his buddies hold personally, or through other companies. Even if they are part of the float, if they were to dump that many shares on PRs it would definitely effect the potential run, just like the action seen here the last couple of weeks.
So you are blaming the action on MMs. And than post showing that Kistler has more than enough experience and contacts in the industry, as proof that it couldn't be him.
Yet....
He also claimed the same thing at MIK* a couple of years back. And then a few months later his 'New Opportunity' company (the same one that as of early last year was still listed in ADCS's filings) paid for several promos at the same time. It wasn't much later that the SEC dropped the hammer. I think he & his cronies are worried that investigators are looking at all of the FW stocks, past & present, and they are trying to disappear.
GLTA
ADCS hit its .0007 high on the 6th, with no news for several weeks. But with two PRs in three days last week it could barely touch .0006. It may not be the company, but somebody with a lot of shares is unloading a large number of shares. My guess would be Kistler & his buddies. Together they hold the majority of shares here, even after all they have dumped over the last few weeks.
GLTA
An explanation of the negotiation of compounding purchase:
As of now, the proposed exit plan would move all bioplastics to Algaeplast. And Cereplast would become a more traditional resin supplier, with the capability to do special blend requests.
Instead of having to compound the traditional resins, they will buy them from existing sources.
Management is currently working on an in-depth reorganization plan to bring our company to profitability and emerge from Chapter 11. Although we are in the preliminary stages of this plan, we can share with you that we believe our company will emerge with two new entities each focused on a specific sector of the bioplastics market:
Cereplast Industry, a specialty compounder with a broader array of resin. This will allow our product offerings to extend beyond bioplastics and target compounding of traditional polyolefin compounds. Cereplast Industry will also provide third-party compounding to serve a growing number of companies interested in having our Seymour plant make quality products. Our plant was set up as state of the art operations and will allow us to make high quality resins. We are already negotiating a several million pound compounding contract with a large plastic operator. We believe that in implementing this plan we will reduce the internal working capital requirement due to the decreased costs associated with purchasing raw material and preliminary analysis suggests that Cereplast Industries, if approved by the Bankruptcy Court, would reach profitability much faster than the current business model.
Algaeplast, will lead our bioplastic operations including the existing technology and the Algae development. However, under the new proposed business model, Algaeplast will become a licensing model by which Algaeplast will license out the technology to third parties that have an interest in bioplastics. This model will substantially decrease the costs of manufacturing and all related expenses. We are proposing that Algaeplast will cross-license all its technology with Cereplast Industry so the current customers of Cereplast can still be served properly. Algaeplast will also license its technology overseas to serve the European market without having to incur the costs of manufacturing and shipping products and the related financial risks and cash flow requirements.
Why not wrap those light strips around your plumbing pipes? It would do a better job at heating water than our current foray into water heaters. hahaha
GLTA
And it was about to change a year ago, so what proof is there, that this time it is actually going to happen??
That website hasn't changed in almost a year... haha
Never said you owned anything here, just thought I had seen you around here for a while.
I love when peeps that have been around a few months tell those who have been around for years 'I've been here awhile. I know.'
haha
Or maybe they don't know what we do, and are going to be the new 'bag-holders'.
GLTA
Just in case someone doesn't know:
CEOs and CFOs run their Companies under the guidance of the Board Of Directors, which currently consists of just one person.
Mark Newbauer Chairman
So, did the CEO lie to you??
Copied from OTCMarket Company Info page:
http://www.otcmarkets.com/stock/ADCS/company-info
Company Officers/Contacts
Mark Newbauer Secretary
Alexander Woods-Leo CEO
James DiPrima CFO
Company Directors
Mark Newbauer Chairman
ITEM 7. DESCRIBE THE ISSUER'S FACILITIES.
The Company is currently based in Fort Wayne, Indiana and is operated from an office located at 3601
Hobson Road, Suite 102, Fort Wayne IN 46815-4527, The Company sub-leases this space under an
agreement with the present CEO, Mark B. Newbauer. Under this agreement the Company is not subject to
ongoing lease payments but, may be subject to certain additional fees in accordance with the move out
policy should the Company relocate.
ITEM 8. OFFICERS, DIRECTORS, AND CONTROL PERSONS.
A. NAMES OF OFFCERS, DIRECTORS AND CONTROL PERSONS
The current president, secretary and sole director of the Company is: Mark Newbauer.
C. BENEFICIAL SHAREHOLDERS
Provide a list of the name, address and shareholdings or percentage of shares owned by all persons
beneficially owning more than ten percent (10%) of any class of the issuer’s equity securities.
OWNER OF RECORD CONTROL PERSON ADDRESS
Mike the Pike Productions, Inc.
Mark Newbauer
3601 Hobson Road, Suite 102
Fort Wayne, IN 46815
CLASS OF SECURITY NUMBER OF SHARES PERCENTAGE % OF CLASS
COMMON STOCK 590,000,000 11.903%
PREFERRED CLASS A 110,000 75.862%
OWNER OF RECORD CONTROL PERSON ADDRESS
Mark B. Newbauer
N/A
3601 Hobson Road, Suite 102
Fort Wayne, IN 46815
CLASS OF SECURITY NUMBER OF SHARES PERCENTAGE % OF CLASS
PREFERRED CLASS C 5,000,000 100.00%
I don't see it referenced in the recent financials, but 'New Opportunity' was listed as a major shareholder in first quarter 2013, that is/was Kistler.
He stated the facts, as shown in the 8k.
Someone else twisted his words into insinuations....
Estimates ARE made up numbers...
No matter how many factors you try to allow for, something can happen to prove your estimates wrong. Whether the surprise is good or bad, the estimates are still guesses at best.
GLTA
scheer will shock many
You might want to read the 8k, these are Scheer's own words.
Copied from the 8K:
The Financial Information does not purport to present
the Company’s financial condition in accordance with
generally accepted accounting principles in the
United States (“GAAP”). The Company’s independent
accountants have not examined, compiled or
otherwise applied procedures to the Financial
Information and, accordingly, do not express an
opinion or any other form of assurance with respect
to such information. The Financial Information is
subjective in many respects and contains numerous
estimates and assumptions made by management of
the Company with respect to its financial condition,
Do you already have a sell order for all or partial? If so, that will have to be cancelled first. Or if you just cancelled one, it may take a few moments to register in their system.
Please tell me you don't believe those numbers... For the past several years, he has been burning through millions of dollars each month, and now majically he only needs $335,000...
Where did the rest of the money go?? Is that where junior got his money from??
GLTA
Uh, guys....
I have been trying to put in buy orders ever since the DTC chill hit, just to test the waters. A-Trade has rejected every one...
UNTIL TODAY!!!
GLTA - Something is happening!!
Promises, Promises...
Imiloa,
I'm showing ETRF, NITE, CSTI, & CDEL all @.0001 bid for total >55,000,000 shares. And same MMs all @.0002 ask for total >216,000,000 shares.
I'm using TD Trade Architect but I think there have been issues all week. Keep losing partial connection to L2 and have to close & reopen to regain.
GLTA
At least with watching paint dry you could fix a bowl of popcorn to munch on. If you are holding MIKP you can't sell any shares to afford the popcorn.
GLTA
DID I JUST SEE A NICKLE?!?!?!
Generally speaking, there is no way to know.
However, since Horizon has filed to force a chapter 7 liquidation, as the only secured creditor, the judge is required to rule on their motion before going forward with anything else. I would be surprised if doesn't rule on it by Friday.
As to the earlier discussions concerning the RS:
IMO, the only way there will be a RS now is if it is court ordered. And the court is not restricted by the shareholder approval of 50:1, they can order any ratio they want. The way I see it, that is the ONLY WAY current shareholders have a chance to take part in any ongoing concern with Cereplast the company. But that won't happen unless FS can show substantial in hand contracts. None of this $1.4 million over 12 months, I'm talking minimum $2 million each & every month, for over 2 years.
GLTA
True, look at GM's old stock, it trade as "Liquidation Motors' (or something like that) and did quite well, for a while. But, it's a game of 'Hot Potato', because as soon as the bankruptcy is complete, the stock doesn't exist anymore. No conversion to new shares, no traded as an empty shell, nothing just gone. There are better odds with the lottery than there is on a BK stock. If a mega-corp like GM can't protect shareholders, what makes anyone think CERP can. I mean, they couldn't even give them 'Par Value' for their faith & loyalty.
GLTA
According to the 'revenue recognition' section, "payments are to be made within 30 to 60 days". With $624,577 of revenue for the quarter, assuming roughly equal sales per month, Accounts Receivable should not exceed $400,000 @ 60 days outstanding. Yet A/R is $926,192, more than double. Even if all revenues are from December, that is still 50% higher than it should be. With all the salary they are paying someone, you would think he would be able to get the deadbeats to pay up. haha
GLTA
They can enter the order, but the court is not required to approve it. However, I see nothing anywhere that would suggest that the court would deny it, in this case.
Been here 4 years, hasn't left the trips to be able to crash back down to them. In fact the 4 year high is a quick blip @.0004 in April 2010.
Been here many years, what you have to watch with FS is: Whenever he releases a PR redo your DD, starting with SEC filings. You could almost guarantee that something would show up in the filings, or there would be something bad from a creditor or partner within hours. And usually the better the 'news' the worse the SEC filing or whatever. He tried to cover up the bad news with a PR, assuming that if we read a PR from him @ 8:00 AM, we wouldn't realize that there was more news later in the day, since the IHUB news icon stays for 24 hours. If the icon were to disappear after we read news, we would be able to see if something else were to be released.
That is why I highly doubt there is a 'huge contract' being held back. He would have been trying to hide the last few 8k filings.
GLTA
That is putting it mildly.
GLTA
WOW... Can't even keep facts straight after 2 weeks!!
GLTA
Actually, mayerxx originally posted that CERP was going to rescind the BK application. You are saying that the court is going to dismiss it. Two completely different things. One is the company saying it has found a solution, the other is the court saying 'sorry charlie' you are SOL.
As to the dates, the reason the notice is dated the 11th is because that is the normal one week warning. And we will also see a similar notice next week pertaining to the rest of the paperwork, which is due 02/24/2014.
GLTA