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The contract called for 110 days from the date it was declared 'operational' before LRS had to accept and pay for it. It was declared 'operational' on July 21, by LRS. Call LRS and ask if they have paid for the machine if you think it's important...I rely on legal contracts, not promotional videos.
GLTY and JMO
tw2319... What financial interest does ECOS have in any of that equipment?
Right now the only capital investment Ecos shareholders technically own is the $100 cash Ecos contributed to form the JV ECOS/BIO-Art LLC. Their next contribution is due when LRS accepts, and pays for, the first machine? Then ECOS has to contribute all of it's sales commission on that machine to the JV.
What is 1/25 billionth of $100 worth at this time?
GLTY and JMO
"I find it fascinating that they were already "priming" the residents in Highland Park for the scrap waste separation/recycling concept. If they have forethought on that, just think what they're already "Plotting" for the future."
Highland Park Officials made it 'mandatory' for anyone wanting to bid on their recycling contracts to offer a composting capability in their Mix. That triggered LRS to travel to Korea and research the various technologies in use over there. If you need a time line, contact the Highland Park officials or LRS LOL.
This is something that may well happen in more municipalities in the US who solicit recycling bids. This requires a large CapEx up front and doesn't mean anyone, including LRS, is going to make huge returns on their capital investment LOL.
GLTY and JMO
"There appears to be an effort to push the price down, who knows whether that is part of NEAH's plan or not."
That is definitely an area they have excelled in LOL.
Sorry...did not "call you out", I posted a joke about 'naked longs'..and referenced an earlier joke post i read about LRS and ECOS porn..didn't even realize it was yours LOL.
GLTA
adammh....This has all been posted before but here it is again!
BUYER = LRS
SELLER = ECOS/BIO-Art LLC
SECTION 3 ADDITIONAL AGREEMENTS.
3.1 Promotion. After acceptance of the Initial System, at the reasonable request of Seller, Buyer will cooperate with Seller to promote the System to its customers. Buyer will permit Seller to conduct demonstrations of the System at LRS Locations to potential customers during Buyer's regular business hours and in a manner that does not unreasonably disrupt the Buyer's business, with reasonable prior written notice, but in any event, not less than ten (10) Business Days prior to such demonstration.
3.2 Output. All Output generated from the Purchased Systems will be owned by Seller. Buyer will deliver to Seller or to Seller's customers, at the direction of Seller, (a) all Output generated by the Purchased Systems and (b) all containers required for the shipment and storage of the Output. All delivery costs and expenses incurred by Buyer in its delivery of the Output ("Output Delivery Expenses") shall be reimbursed by Seller pursuant to Section 3.3 below. Seller may in its sole and absolute discretion, further process and/or sell the Output under Seller's branding.
3.3 Net Tipping Fees. As additional consideration for the Systems, Buyer will pay to Seller Tipping Fee Sharing Payments (as defined herein), based on the gross tipping fees collected by Buyer from its customers for collection of waste that is input into the Purchased Systems ("Gross Tipping Fees"), for each calendar month or portion thereof after the date of acceptance by Buyer of the Initial System, as set forth herein. For purposes of this Agreement, each "Tipping Fee Sharing Payment" shall be an amount equal to ten percent (10%) of the sum of (x) all Gross Tipping Fees collected by Buyer in such period, less (y) Collection Costs (as defined herein) for such period. Within twenty (20) days following the end of each monthly period for which a Tipping Fee Sharing Payment may be owing, Buyer shall remit to Seller payment of an amount equal to the Tipping Fee Sharing Payment, if any, for such period less all Output Delivery Expenses owing to Buyer for such period (and any prior period), together with a reasonably detailed calculation of such amounts (the "Tipping Fee Sharing Payment Calculation"). The Tipping Fee Sharing Payment, Output Delivery Expenses, and all component amounts thereof, shall be determined by Buyer on a basis consistent with Buyer's ordinary accounting practices. In the event that Output Delivery Expenses for any period are greater than the Tipping Fee Sharing Payment for such period, Buyer will deliver the Tipping Fee Sharing Payment Calculation to Seller, together with a request for payment of the amount of Output Delivery Expenses that are in excess of the Tipping Fee Sharing Payment (the "Overage Expenses"). Seller shall remit to Buyer any Overage Expenses within twenty (20) Business Days after receipt of the Tipping Fee Sharing Payment Calculation. For purposes of this Agreement, "Collection Costs" means the costs incurred by Buyer, directly or indirectly, for the collection of waste that is input into the Purchased Systems, including all electricity; rent; labor and benefits; direct and indirect overhead; city, state and other local taxes or fees; transportation; and permits.
"Buyer LRS pays tipping fees to Seller..."
Only after deducting all the expenses some moron claimed were a donation by LRS to the JV LOLOL.
Yep...lots of possible culprits being singled out here..one poster said he plans to post some porn this weekend, which might signal a plan to blame naked longs too LOL?
Again, I will send a link to the specific section in the agreements right after I get full clarity on what you meant by "my crew" and what authority your "crew" has on IHUB? LMFAO
"my crew"
I will send a link to the specific section in the agreements right after I get a full understanding of what "my crew" means and what authority "my crew" has on IHUB? LMFAO
It's in the part you overlooked.
https://www.sec.gov/Archives/edgar/data/1290506/000100201416000810/0001002014-16-000810-index.htm
"and a property, and employee time, and electricity..etc etc... ohh man you missed many many more..."
Funny, the agreement states LRS gets reimbursed by the ECOS/Bio-Art LLC for those things?? Comprehending signed legal contracts can help at times.
:YESSSSS Keep posting !"
Thanks Dutch! I will. I've always found sunshine to be the best, and least expensive, disinfectant available to shareholders concerned about their company's management.
GLTY and JMO
LOL...that exact phrase was on their web site the day they announced a 1 for 2000 R/S in June 2014 to wipe out all the loyal common shareholders aboard at that time LOL. Good find!
Share structure update 9/15/2017:
ECOS has dumped 5,488,394,000 shares since 12/30/2016
From the T/A - 9/11/17:
Authorized: 10,000,000,000
Issued and outstanding: 8,737,766,957
Restricted: 3,656,163,534
From the T/A - 12/30/2016:
Authorized: 10,000,000,000
Issued: 3,249,372,998
Restricted: 3,115,063,534
With only 1.3 billion shares still available to dump, ECOS is planning to increase the A/S on OCT 1 by another 15 billion shares (with approx 10 billion of those to be restricted for one year as part of a debt swap).
There will likely be continued dumping of the additional 6 billion free shares for another year just to pay salaries and other expenses, and any expected 'BIG RUN' may have to be delayed for the lack of any sizable annual revenue allocations from ECOS/Bio-art LLC, or from any (yet unscheduled) additional machine sales or installations.
Toxic note buyers, like Tonaquint, can't convert new notes into registered shares until ECOS is current in their filings? So as soon as they get current, new convertible notes will likely be sold and converted immediately to pay off old debts, and the historic ECOS revolving door for toxic note buyers will be back working again.
GLTA and JMO.
"VNDM is playing games"
Nope..the orchestrators of the share selling scheme (VNDM's clients) are the ones to blame. Attention is intentionally being deflected away from the real culprits.
9 months...many billion+ share trading days...no run?...5.4 billion ECOS shares dumped?
Yep...must be the MMs fault LOL
GLYY and JMO
And you don't know what I do own...you get another wrong for that one LOL.
Yep Dutch...as I said earlier "the technology is rock solid".
LRS is also rock solid!
You don't own either one...you own shares of ECOLOCAP Solutions where all the horrific debt and 25 billion shares are stored LOL.
GLTY and JMO
They have been touting smaller units for home and commercial applications since 2015, but have never sold any per ZERO revenues thru 2016 filings. Ask ECOS to clarify.
Wrong again Dutch? How many strikes do you get?
ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.
On December 19, 2016, we entered into a Limited Liability Company Agreement (the "Agreement") with Lakeshore Recycling Systems LLC located in Morton Grove, Illinois ("Lakeshore"), creating ECOS BIO-ART LLC, a Delaware Limited Liability Company ("LLC"). Under the terms of the Agreement, we own 95% of the LLC and Lakeshore owns 5% of the LLC. Lakeshore made an initial capital contribution of $100.00. We made an initial capital contribution of $100 as well. In addition to our initial contribution of $100.00, we will contribute to the LLC, the net profit resulting from the sales of the first eight biofermentation systems. The biofermentation systems turn organic waste into a byproduct which can be processed into a high quality organic fertilizer.
On the same date, we entered into a Supply Agreement (the "Supply Agreement") with LLC wherein we agreed to manufacture and supply equipment and products to LLC for resale or lease to Lakeshore and LLC's customers. The amount of equipment and supplies we supply to LLC will be determined by written purchase orders from LLC to us. LLC shall purchase and take from us, such quantities of products and equipment as LLC requests from time to time. We are processing an initial order for an product system. The purchase price of the initial product is $687,375.00. LLC will be invoiced by us for the $687,375.00 which LLC will pay from immediately available funds. The initial sales price reflects the purchase of equipment and products by Lakeshore from LLC and is evidenced by an Equipment Purchase Agreement between LLC and Lakeshore.
On December 19, 2016, Lakeshore and LLC entered into the foregoing referenced Equipment Purchase Agreement wherein LLC agreed to produce certain equipment for Lakeshore at a purchase price of $687,375.00. Lakeshore will pay for said equipment upon installation plus an invoice from LLC. In addition to the foregoing purchase, the Equipment Purchase Agreement provides for the purchase of additional systems.
"A somewhat fair point.. however, the past is the past... when a company is showing that they're moving forward and making progress.. that's something to be considered as well.."
Each share of ECOLOCAP (ECOS) will soon represent 1/25 billionth of a public company which has no current assets and a ton of PAST liabilities...and is under the watchful eye of the SEC because of it's past insider enrichment share selling schemes and managements association with previously indicted, sanctioned and fined toxic note buyers.
Experienced penny players know all the signs of a wash, rinse, repeat and know the ultimate result. Regardless of how great the the technology may sound (which is rock solid IMO) ECOS does not own it and can't use it as collateral to borrow against.
LRS put up $100, and a little attorney time, and wound up with air tight legal control over everything. If they want to go public, they can buy a clean OTC shell for around $250,000. They don't need ECOS (the public company) for anything other than Hanscom K's import license and help with by-product sales IMO. If ECOS management can't handle the setting up the distribution channels for the by products, I'm sure LRS can easily correct that problem too, wink, wink.
ECOS shareholders own no part of LRS...only a 50% interest in the private JV, ECOS/BIO-Art LLC..
GLTY and JMO
And those ignoring the past have little clue why they're not filthy rich yet LOL.
JMO
We are among the first public companies in North America to offer an effective and economical, fully integrated aerobic digestion technology called ECOS/Bio-ART which remediates all organic waste. ECOS/Bio-ART is a superior and less expensive process than the present anaerobic or aerobic digestion methods.
The nice thing about imagining things is it requires no DD, special skills, training or talent, almost anyone can do it.
That's exactly what ECOS did in 2014 with their 1 for 2000 split. FINRA then refused to process it for 8 months.
This time they 'gifted' themselves preferred shares that gave management 106 Billion votes LOL.
FINRA will not process another R/S as long as ECOS is delinquent. So as soon as they get current...look out.
GLTA and JMO
We're looking for audited financial numbers that support the narrative you keep posting from Management...just like the SEC does. You can 'believe' whatever you wish.
"if this is the real deal why does ecosystem keep insisting to sell to toxic debtors???"
Well said!
Ecos has been in default on all of their convertible notes since 2014...the default penalty on the Tonaquint note alone was 50% of the original note amount...who in their right mind would loan them money at this point, except a loan shark LOL.
Not a dime is listed in their audited 10K filings for patents or other IP...they show nothing of value...just narrative about potential. I asked someone to post some financial proof from the 10K regarding those BIO-Art assets, and the silence was deafening.
Bill, I'm surprised at you...daily short VOLUME,as reported by FINRA, has absolutely nothing to do with actual short TRANSACTIONS. Please call FINRA and have them explain the difference so the misinformation on this his board can stop....LOL
LOL...if you think they are too big now, wait til October 1 when the A/S goes up to 25 billion and the O/S to around 20 billion...from the DEF 14C ECOS recently filed.
GLTY and JMO
"Nice to see Lakeshore actively promoting The digester!"
LRS has been actively promoting aerobic digestion for the last 9 months?? The ECOS/BioArt partnership agreement was signed December 23 2016. What investors in ECOLOCAP SOLUTIONS are anxious to learn is whether it can be accomplished at a profit...and not even LRS knows that yet (and likely won't for another year)?
GLTY and JMO
https://www.sec.gov/Archives/edgar/data/1290506/000100201416000810/0001002014-16-000810-index.htm
Whales are not usually into 'ribbon cutting'. They do understand and worry about the opinions of the SEC and of FINRA though.
GLTY and JMO
And ECOS, since inception, has never failed to disappoint shareholders LOL. There are many good reasons for the STOP SIGN on OTCmarkets IMO.
nhttp://www.otcmarkets.com/stock/ECOS/quote
Yep...looks like Fife is unloading right on schedule? PR, Demo, Dump.
GLTY and JMO
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=134482363
It's considerably more than a collaboration. It's a very carefully crafted legal JV between LRS and Ecolocap Solutions named ECOS/BIOart LLC, through which all digester sales, all by-product sales, and all profits and losses must pass.
Very well done by the LRS attorneys and interesting reading.
They also covered joint demonstrations of the equipment..the first of which is scheduled for next Wed.
https://www.sec.gov/Archives/edgar/data/1290506/000100201416000810/0001002014-16-000810-index.htm
Some of the equipment had to be supplied locally so it could get past domestic approvals like UL...I think deal_guy already mentioned that? Nice picture though.
"They own the technology. ECOLOCAP the technology is ECOS bio-art."
Please post a financial statement that shows that ECOLOCAP SOLUTIONS INC owns any technology, or other assets of value?? We don't want rumor, innuendo or hearsay, just audited statements currently on file with the SEC. The last audited statement would be the 2016 10K.
Please show us what section lists the BIO-art technology you claim they own?
TIA
"And who's hosting ?"
The Joint Venture...ECOS/BIOart LLC, which you own no shares of LOL.
The official PR released to the 'public' clearly listed both as the "SOURCE". The SEC doesn't pay much attention to tweets.
http://www.marketwired.com/press-release/lakeshore-recycling-systems-is-first-united-states-integrate-breakthrough-aerobic-digester-2233156.htm
"Did you see who put out the PR Kenny?
Lakeshore did not ECOS$$$"
Read the PR again...both are carefully listed at the top as the "SOURCE" LOL.
http://www.marketwired.com/press-release/lakeshore-recycling-systems-is-first-united-states-integrate-breakthrough-aerobic-digester-2233156.htm
"So LRS makes money picking up the waste and if they merge with ECOS they will make money selling the output."
Sorry, by contract, LRS already owns 60% of the net profits from the output from the aerobic digestion machines they purchase through their supplier, ECOS/BIOart LLC. They do not need to 'merge' with ECOLOCAP SOLUTIONS (ECOS) to profit from the sale of additional machines, nor from any by-product sales made through ECOS/BIOart LLC.
The machines LRS buys are a 100% capital expenditure (CapEx) of LRS and owned by them.