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Any chance of a PR this morning?
What can we expect tomorrow and the rest of the week, month, year?
Come on, I gots'ta know!
Where is this chart going?
http://stockcharts.com/charts/gallery.html?gscr
Great close today. Completely unexpected.
wow, hold on a second, I gotta go to Costco for some more lotion.
LOL
.003 or .0064 or a full dime.
Which do you prefer?
Closed on High and Above 50 DMA
http://stockcharts.com/charts/gallery.html?gscr
On increasing Volume.
Nice.
Prediction for tomorrow?
No Prediction.
WE NEED MORE COWBELL we Closed .0064
Perfect, Love Trains!
About shook me from my chair, but thanks!
She's moving like an Express Train!
We Closed at the Highs and Old News came out.
What's not to like?
WiseBuys Stores, Inc. Receives Financing Commitment for Hacketts Acquisition
Thursday August 2, 1:12 pm ET
Term Sheet Received for $4,000,000 from the Stillwater Asset Backed Fund LP and The Oxbridge Group
NEW YORK--(BUSINESS WIRE)--WiseBuys Stores, Inc. ("WiseBuys") announced today that it has received a Term Sheet for up to $4 million in financing for the acquisition of Hacketts from New York-based Stillwater Capital Partners, Inc. The financing, which is being arranged and managed by The Oxbridge Group, is subject to final due diligence, the completion of definitive agreements, and $300,000 in additional equity investment.
ADVERTISEMENT
As reported previously, WiseBuys executed an agreement with Hacketts owners to acquire 100% of the stock of Patrick Hackett Hardware Company ("Hacketts"). Hacketts, which is one of the nation's oldest retailers, currently has stores in New York State in the villages of Canton, Ogdensburg, Massena, Potsdam, and Watertown. WiseBuys current locations include Canton, Gouverneur, Hamilton, Pulaski, and Tupper Lake - all also in New York State.
"We are pleased to announce this financing offer, which would facilitate our acquisition of Hacketts," stated Thomas Scozzafava, a co-founder of WiseBuys and current CFO. "This Stillwater financing would be the bridge capital needed to complete the transaction, and we would then seek traditional bank debt and equity capital to help grow the company," Mr. Scozzafava added.
The acquisition, which calls for a $1.5 million payment at closing and additional payments of $4.5 million over eight years, includes management agreements for the retention of the founding family members as well as Hacketts current CEO.
About Hackett's:
Hackett's is one of the oldest retail establishments in New York State and the Nation. Its origins date back to 1830 when it was a ships chandlery, wholesale supplier and a traditional hardware store. During its evolution, it would also become a supplier of railroad equipment, builders and contractors' supplies, plumbing supplies, steam fitting, tinsmithing, and a large foundry manufacturing many lines of metal plumbing items that you still find in existence today. Over the years, the company has adapted to changing market conditions and evolved into a full line department store focused on premium clothing, footwear, and gift items and today consists of five (5) locations:
(i) Ogdensburg, NY (55,000 sq. ft.) - full line department store
also featuring a coffee shop serving breakfast and lunch
gourmet specialties called North Water Street Coffee
Company;
(ii) Potsdam, NY (41,000 sq. ft.) - a recently-opened (2004) full
line department store
(iii) Watertown, NY (56,000 sq. ft.) - newly-opened (4th Qtr '06)
full line department store
(iv) Massena, NY (12,700 sq. ft) - Hackett's only mall location
opened in late 1999 with a focused selection of premium
clothing, footwear, and gifts;
(v) Canton, NY - a full line footwear department, apparel for
men and women, and a sporting goods department; (this would
be closed and the building sold or leased and operations
moved to WiseBuys.)
Hackett's has an outstanding reputation within the industry as a customer service-focused organization selling premium products at a fair price - both of which differentiate it from "discount" big box retailers.
About WiseBuys:
WiseBuys Stores, Inc. ("WiseBuys") was formed and began operations in 2003 as a direct result of the closing of small-town retail staple, Ames Department Stores. Founded primarily by lifelong "north country" residents, WiseBuys initially focused its efforts on serving the "discount" retail needs of mostly rural communities throughout northern and central New York.
WiseBuys' strategy included an innovative approach whereby it partnered with established and successful specialty discounters to create a "mall without the walls" concept. This innovative approach made easier to expand rapidly (five stores in thirteen months) because less capital was required for inventory, and partnering with niche players made immediately competitive across certain product lines. That is, although WiseBuys has only five stores, its pricing reflected the established purchasing power of Payless, KB Toys, etc. And from the customers' perspective, WiseBuys had created a full line department store virtually over night. The concept was embraced by large, well-established retailers and was heralded in the industry. The following in-store retail partnerships with both national and regional chains were established:
Payless ShoeSource, Inc. - "store-within-a-store" deal across chain
KB Toys Inc. - exclusive license agreement "KB Toys at WiseBuys" branded department
RadioShack - franchise acquisitions
Card$mart, Inc. - franchise acquisitions
Home Fashion Distributor, Inc. - consignment inventory deal for domestics
Masters, Inc. - leased department deal for apparel (consignment inventory)
Massey's Furniture Barn, Inc. - consignment inventory deal for furniture & mattresses
In addition, WiseBuys won such awards as the "New York State Small Business Development Center Excellence Award" (April '04) and the "Oswego County Job Creation Award" (June '04). WiseBuys current stores include the following:
(i) Canton, NY (40,000 sq. ft.) - full line department
store;
(ii) Gouverneur, NY (53,000 sq. ft.) - full line department
store;
(iii) Hamilton, NY (43,000 sq. ft.) - full line department store;
(iv) Pulaski, NY (59,000 sq. ft) - full line department store;
and
(v) Tupper Lake, NY (34,000 sq. ft.) - full line department
store.
Both WiseBuys and Hacketts will be subject to completed audited financials. WiseBuys recently engaged Syracuse-based accounting firm Dannible & McKee, LLP (www.dmcpas.com) to complete these audits.
GS Carbon, which was acquired by Seaway Capital and is changing its name to Seaway Valley Capital Corporation, is seeking additional debt and equity investments in retail, restaurants, media, business services, manufacturing, and technology companies.
About Seaway Capital, Inc.
Seaway Capital, Inc., which was formed in 2002 as "Seaway Capital Partners, LLC", makes equity and equity-related investments in companies that require expansion capital and in companies pursuing acquisition strategies. Seaway Capital also seeks investments in leveraged buyouts and restructurings and will consider investment opportunities in a number of different industries, including retail, restaurants, media, business services, and manufacturing. Seaway Capital will also consider select technology investments.
Safe Harbor Statement
This press release contains statements that may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of the Company, and members of their management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
Dear Shareholders:
I am pleased to report today an update on the progress of our company and its business plans since Seaway Capital, Inc. acquired GS Carbon Corporation, which took effect on July 1, 2007.
On the corporate side, as reported previously the terms of the agreement called for Seaway Capital's acquisition of GreenShift's controlling stake in the form of common and preferred stock in return for the assumption of certain legacy liabilities of GS Carbon. I immediately replaced Kevin Kreisler as Chairman and CEO after he stepped down from both positions. Seaway Capital then canceled the common shares it acquired from GreenShift, and in addition over $500,000 of those legacy obligations have been eliminated.
GS Carbon Corporation is now in the process of filing the necessary documents to effectuate a name change to "Seaway Valley Capital Corporation", and we would expect an eventual ticker symbol change to reflect this name change.
On the business end, the Company has executed a number of share purchase agreements with shareholders of WiseBuys that represent an aggregate of 60% of the ownership and voting interest of WiseBuys Stores, Inc. As also announced, part of that 60% are shares I agreed to contribute for no cost to GS Carbon. Seaway shall make additional offers to acquire up to 100% of WiseBuys' shares over the following weeks, although we cannot predict the response of these shareholders. Seaway's goal is to acquire approximately 85% of WiseBuys.
These agreements shall become effective upon completion of audited financials of WiseBuys Stores, Inc. As WiseBuys' CFO, I can report that we have engaged Dannible & McKee, LLP, and these audits commenced two weeks ago. I have not been given a definitive timetable for their completion, but I can say WiseBuys Stores, Inc. has maintained "reviewed" financials by certified public accountants since its inception in 2003.
WiseBuys Stores, Inc. has five stores totaling approximately 230,000 square feet of retail space in northern and central New York. WiseBuys currently buys merchandise from manufacturers and resells to consumers, which is typical for retailers. Additionally, however, WiseBuys structured "in-store partnerships" whereby its partners (one such is Payless ShoeSource) literally maintain space in the stores and operate. WiseBuys is compensated in these arrangements by receiving a percentage of partners' sales. WiseBuys neither: (i) records the partners' sales figures as its own, nor (ii) records this percentage income in its own reported sales line. Rather, the income is recorded as "License Income" in the current financial statements below the top line revenues in "Other Income." (This is the most conservative recording of this income, as it does not exaggerate WiseBuys' gross margins by inflating sales with goods not actually purchased by WiseBuys.) As it relates to store-wide sales, however, since WiseBuys opened its first store in Canton, NY in November 2003, WiseBuys and its partners have collectively generated sales of over $37.8 million through June 2007. These revenues perhaps could be considered a proxy for WiseBuys' revenues if WiseBuys, instead of these partners, had sold these goods in lieu of our partners doing so.
WiseBuys Stores, Inc. also recently announced the execution of agreements to acquire 100% of the stock of Hacketts, one of the nation's oldest retailers. The agreement is subject to securing acquisition financing, which we hope to close on shortly. Hacketts owns and operates five retail stores that are somewhat similar to WiseBuys. However, a distinct difference is that Hacketts does not have "in-store partners" and operates all of their own departments within the stores. By doing so, the vast majority of the goods sold in Hacketts stores are recorded on Hacketts' top line sales figures. As stated previously, if the transaction is consummated, WiseBuys stores will be converted to Hacketts stores and run similarly to Hacketts.
Hacketts, also with "reviewed" financials, will be subject to audited financials as well.
I am pleased to be able to announce these significant events that have transpired since Seaway Capital, Inc. acquired the Company on July 1st. I shall continue to update you with further developments and with as much transparency as possible.
About Seaway Capital
Seaway Capital was formed in 2002 and makes equity, equity-related, and debt investments in companies that require expansion capital and in companies pursuing acquisition strategies. Seaway Capital also seeks investments in leveraged buyouts and restructurings. Seaway Capital will consider investment opportunities in a number of different industries, including retail, restaurants, media, business services, and manufacturing. Seaway Capital will also consider select technology investments.
Safe Harbor Statement
This press release contains statements that may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of the Company, and members of their management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
Do they want it Higher? Or Lower?
All the news (negative/positive) have really nothing to do with price movements of most stocks.
If the Big Players want it to go up, it will most likely go UP!
If the Big Players want a stock lower, even though news says the contrary, well then it will probably go Down.
Just how it is, especially here in Pennyland.
Shake, Shake, Shake-Trying to get them to puke.
Term Sheet Received for $4,000,000 from the Stillwater Asset Backed Fund LP and The Oxbridge Group
NEW YORK--(BUSINESS WIRE)--WiseBuys Stores, Inc. ("WiseBuys") announced today that it has received a Term Sheet for up to $4 million in financing for the acquisition of Hacketts from New York-based Stillwater Capital Partners, Inc. The financing, which is being arranged and managed by The Oxbridge Group, is subject to final due diligence, the completion of definitive agreements, and $300,000 in additional equity investment.
That's why it wasn't just CORNELL DEBT we had #'s for.
GET A GRIP!
WOW does all this seem like an Attempt to "Shake" the longs resolve?
PR put out because of changes to past press releases and filings?
OLD NEWS as far as I'm concerned.
If Cornell converted, I doubt they let price drop against them.
They always seem to have a knack of winning.
NOT A SURPRISE.... WHEW! Sure felt like one.
LOL
Form 8-K for GREENSHIFT CORP
--------------------------------------------------------------------------------
8-Aug-2007
Non-Reliance on Previous Financials, Audits or Interim Review
ITEM 4.02 NON-RELIANCE ON PREVIOUSLY ISSUED FINANCIAL STATEMENTS OR A RELATED AUDIT REPORT OR COMPLETED INTERIM REVIEW
In its Annual Report on Form 10-KSB for the year ended December 31, 2006 GreenShift disclosed in Note 21 to the Financial Statements the following:
A subsidiary of GS Carbon that was spun-off from GS Carbon in 2006 issued debt instruments in the principal amount of $498,074 several years ago. GS Carbon recently was presented with evidence that GS Carbon may be liable for payment of the debts. GS Carbon's management is actively investigating the facts and circumstances with respect to the debts, and is not able to determine at this time if GS Carbon has liability for the debts.
On July 26, 2007 management of GS Carbon determined that the debt instruments remain liabilities of GS Carbon. The financial statements of GS Carbon are consolidated with the financial statements of GreenShift. Therefore, the Board of Directors of GreenShift subsequently discussed that conclusion with Rosenberg Rich Baker Berman, CPA, its independent accountant.
Due to the determination that GS Carbon is liable for the $498,074 in debt instruments, GreenShift will amend its Annual Report on Form 10-KSB for the year ended December 31, 2006 and its Quarterly Report on Form 10-QSB for the quarter ended March 31, 2007 in order to restate the financial statements contained in those reports. The amended reports will be filed promptly after GreenShift files its Quarterly Report for the quarter ended June 30, 2007. In the meantime, the financial statements contained in the December 31, 2006 and March 31, 2007 reports, and the audit opinion contained in the December 31, 2006 report, should not be relied upon.
At the end of the second quarter, GreenShift transferred its interest in GS Carbon. Therefore, the financial statements of GS Carbon will not be consolidated with the financial statements of GreenShift for the third quarter, ending September 30, 2007, or thereafter.
Anyone Calling Tom Scozzafava to Clarify?
Whose problem is this? KK's/Tom S?/Audit Firm?
Well SEAWAY isn't filing amended reports it's that Fantastic K.K. Greenshift... right?
Should go w/ GreenShift and not SEAWAY. RIGHT???
Doesn't that go with K.K. and his Greenshift Group?
I'd rather be dead wrong Sir.
Big Move for the accounts today.
$15,600 to the GOOD today.
Go Baby Go!
WOW: .0064 Closing Price
Closing Bid .0063
Closing Ask .0064
SBSH came to the Bid Rescue!
ETRADE only Bid Left at .0063
GET IN THERE
LOL... gum LOL LOL
Can it close above 50 DMA at .00611
Better put in bids higher than Ask price!
8 minutes to make it happen! GOOOOOOO !!! PUSH
LOCKED MARKET
Geeee, CDNKID says the same exact thing I've been screaming for the last week. Saying it's the only smart thing to do for shareholders in the future. Why let Cornell dilute 100 Million + shares when there is No Need.
I guess you saying this now is like that FedEx Ad, where their looking for ways to save money, the assistant/lowly employee says they should use FedEx for all their shipping, and no one says a word, and actually met with silence.
Then seconds later the boss says the exact same thing and gets greeted with cheers and accolades and complete agreement.
Nobody says, I said the exact samething,,,, no you didn't yes I did,,,, but I went like this.... (moving his hands in a chopping motion.) LOL
Oh well, whatever gets it done...
If it happens we'd all be VERY happy campers!
CDNKID: You say this and the board bags on me for my desire to have Cornell Paid off...and to have more Cowbell ???
I've gotta fever and the only prescription is for more Cowbell!
I've gotta have More COWBELL !
I NEED MORE COWBELL !!!!!!!