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Given up? Absolutely not! There is still potential here, we are down but not out. The only downfall is what is going on with the stock right now. Anyone that invest in a company and doesn't think that the company will use their money to pay off debt or use their money to grow the business is crazy, thats what it's all about.
So it simply boils down to trust, if any CEO told investors what they really had to do to get the job done, that CEO wouldn't have any investor's. When you loan money to a start up company you might as well be loaning your money to a drug addict. You hope that they clean up and get their stuff together so that they can pay you back and maybe they will be so grateful that they will pay you back with interest.
They are going to get it together someday, the only question is who will they be able to get in touch with so that they can pay them back? I'll be here will you? GLTY
2009
Robert Hipple, a lawyer and the former CEO and CFO of now-defunct business development company (“BDC”)2 iWorld Projects & Systems, Inc. (“iWorld”), overstated the value of iWorld’s primary asset – its investment in several portfolio companies – in three consecutive quarterly filings in 2005. Hipple, who personally performed iWorld’s accounting and financial reporting functions, also misled iWorld’s auditors into believing that the company had independently evaluated the worth of its portfolio companies. As a result of his conduct, Hipple i) violated the antifraud provisions of the Exchange Act, filed false Sarbanes-Oxley executive certifications, misled iWorld’s auditors, falsified books and records, and knowingly circumvented internal controls; ii) violated Section 57(a)(1) of the Investment Company Act; and iii) aided and abetted and caused iWorld’s violations of the reporting, books and records, and internal controls provisions of the Exchange Act, and iWorld’s violations of the BDC books and records provision of the Investment Company Act.
B. RESPONDENT
Robert John Hipple, age 64, resides in Cocoa, Florida. He is an attorney licensed in Florida and Georgia. Hipple and an associate controlled the management and operations of iWorld Projects and Systems, Inc. (“iWorld Florida”), a private Florida company, when it was acquired in early 2005 by iWorld Projects & Systems, Inc. (“iWorld”), a business development company. At the time, Hipple was the CEO of iWorld Florida. After the acquisition, Hipple formally became iWorld’s CEO and remained in that position until he resigned in March 2006. He also acted as iWorld’s principal financial officer.
http://www.sec.gov/litigation/admin/2010/34-61688.pdf
2007
Plaintiff-appellee David K. Broadbent (“Receiver”) in his capacity as Receiver for Merrill Scott & Associates, Ltd. (“Merrill Scott”) was awarded summary judgment against defendant-appellant Robert J. Hipple after the district court determined that Mr. Hipple breached his fiduciary duties as an officer and director of Merrill Scott. Mr. Hipple appeals, contending among other things that the complaint should have been dismissed pursuant to Federal Rule of Civil Procedure 19(b) for failure to join an indispensable party.
Exercising jurisdiction under 28 U.S.C. § 1291, we affirm in part, vacate in part, and remand for further proceedings. We affirm the district court’s denial of Mr. Hipple’s motion to dismiss for lack of jurisdiction, because the court unquestionably had jurisdiction over the action in which the Receiver was appointed, and this action was clearly filed in furtherance of the Receiver’s goals. We also affirm the district court’s decision to strike Mr. Hipple’s motion for summary judgment as untimely
http://ca10.washburnlaw.edu/cases/2007/11/07-4078.pdf
Hope this helps you to understand why I think Hipples a crook, and there is more, but I thought this would be enough. GL
I'm stuck -so at least I'm cheering for a good reason!
Gimme an A Gimme a L Gimme an E Gimme a X what does it spell?
Gimme my money back ALEX!!
Rah Rah Rah!! Go team!!!
Man does that bring back some memories. Pit fall -Castle Wolfenstien
What was it load 4 or something to start a program?
We will have new stuff to talk about this week, updates are on there way supposedly, hope that they are good -and FWIW
Wow are we going to see .0009 by EOD?
That is two different things PT, if I go to my bank and borrow money against my truck that I own out right, the bank is not going to ask me what I am going to spend the money on. They are simply going to make sure that my truck is worth more than the loan.
So the fact that DB was going to buy back shares with loaned money in no way insinuates that the shares were in anyway a part of the loan. Just my outlook FWIW
They have financing lined up to pay off TB, thats why the up list and becoming a fully reporting company is happening first. This has been a trial run and I think they pulled it off. Money in the bank! (our bank)
The company is pursuing additional cash from the sale of convertible notes to existing shareholders as well as equity financing through investment banks and accredited investors to fund the remaining balance on the note to Jeff Turnbull and owners of United Oil. Once these notes are paid, the Company will have full access to the proceeds from operations.
And this says a lot this doesn't sound like a company in financial trouble (.)
NOTE 3 - LINE OF CREDIT
The Company has a $750,000 line of credit at Sunflower Bank, maturing December 31, 2010, with an interest rate of 1.3% plus the Wall Street Journal prime rate (3.25% as of June 30, 2010). The line of credit is secured by all accounts receivable, inventory and equipment. As of June 30, 2010, the balance outstanding is zero.
That is a huge line of credit, do you know how hard it is to qualify for that kind of line of credit?
Great sign IMO
Look at the accounts receivable 1.6 million.
And also the purchase of property and equipment 114k.
That comes right off the top, I'm not real good at reading these, but if they are owed 1.6 mil and they bought the truck I think, then this is pretty good isn't it?
Accounts Receivable
Accounts receivable is recorded net of an allowance for expected losses. The allowance is estimated from historical performance and projections of trends.
Accounts receivables of approximately $1.6 million and $0.9 million at June 30, 2010 and 2009, respectively, consist principally of trade receivables from a large number of customers dispersed across a wide geographic base in Kansas, the Dakotas and parts of Montana.
It's not really bad and it's not really good.
We will continue to wait for this to unfold.
With all the room left for dilution, we will wait for some spectacular news, or we will just wait.
Still not clear on what the plan is, but if Alex had any shy-sty plans this would not be the time for transparency.
Still hopeful, and AIMHO
This is the first stock that I have been involved with that up-listed as well.
It's very exciting, this is going to be the best investment choice anyone involved with has ever made, A stock to pass on to grand children! AIMHO of course
Agreed - also this is a crucial time right now, with up list around the corner the SEC has it's eyes focused on USOG just a little bit more than usual. So I would not want to be the CEO or CPA that is responsible for letting out flawed financials and then have to make a retraction or correction, That would not be good for anyone. It is absolutely necessary to get this right 100%. IMO
LMAO - you tell em corner! Person mark 4 U
soon flippers will regret with their attempt to give a break to the imminent wild run ahead... the flipping profits will be compared to some peanuts
Thats correct she has taken time off due to an illness in the family.
Night all
It's only obvious to those who want to or need to believe it.
All the information related to APEX has been posted here. Last I checked, that isn't offcial.
There is actually one thing thats been bugging me, a little while back right after the pps started to plummet, I spoke to Marcia on the phone and she swore to me that the company, anyone involved in the company or a third party acting for the company were not selling shares. I think it's become obvious that they are, ( I think it's for a good reason ) but she didn't have to tell me that so why did she?
Or she was right which would even be more perplexing.
It's actually 4.75 million now. 750 k was added as interest to extend the payment period. GLTY
I think it's pretty obvious at this point. I know you are skeptical, I was too, but things have changed the writing is on the wall, now they just need to put it on paper.
Maybe I'm wrong but I really believe this is whats taking place. IMO
CAR - CET - MS - TF - APEX? = Quasar International Holdings = Conglomerate
GLTY
OH PLEASE HURRY! The suspense is killing me. I have heard rumors that these penny stocks might be scams, my mom told me not to invest here, but I didn't listen. And sense this is the first penny stock that me or anyone else on this board has invested in, we have no idea that there is a risk involved with these stocks. I got an Email from a pumper and he said this is a sure thing, please don't tell me he was lying that would crush me. lol
Please save me I don't know what to do everyone keeps lying to me, I'm starting to think that they only care about themselves. But I'm glad you are here because I trust everything you say. So please I am hanging on the edge of my seat waiting for you to tell me to sell or add. PLEASE HURRY!
Eternally grateful to you, Stoploss
Question, I know that it is pure speculation, and that APEX has not been formally announced yet, but concerning APEX they have an impressive client list to say the least, but they really have not done much in the past few years. But we know as of April they have between 250 and 500 employees, there has been no drastic reduction in employees even though it appears they have not been as busy. This tells me two things, they are working on something big and that they have the resources and revenue to carry them through this project.
So why would they want to be acquired by Quasar? Maybe MS and Quasar have the rights to something that would put APEX technology on the top of the map, A percentage of a lifetime of 100's million dollar contracts per year is far better then 10 to 20 million per year.
This also explains the need for secrecy. I think we are finally on the home stretch. IMO
Assuming we do have the CET tech. look out everybody and strap in for one wild ride!
It's just going to take longer then most initially thought, this has dragged on for a long time with a declining pps, so it will take some good news to get us moving. But we will get moving, and I know people think I'm crazy but holding on to this stock, could end up benefiting my grand kids, this will continue to grow like crazy. imo
I'm convinced that the pieces are falling into place, DB had a vision and it involved bringing several different technologies together to form something new, It's all about the funding now. If it gets completed I can't wait to see what it is that's being built. I'm sure it will be amazing. IMO
Jeffrey Landreth commented, "This is an exciting venture and I firmly believe that Dean Bradley's vision in lining up world class acquisitions will create a unique and high profile technology group."
23 minutes left I bet we close - 0.0000 %
I agree, I was thinking our new management team, friends and family. They are now confident that they are in and this deal is done, so it was time to buy , then the people waiting to buy thought somethings up and they better get in. AIMHO
I would venture to guess that this run was created by just 1 or two buying parties who wanted in.
Green again I'm starting to get a warm fuzzy! I like the fact that the pumpers are picking this up right now.
Did you ever see that other release?
I get that, I was looking for some opinions on what their motive would be for releasing that, why not the good PR from yesterday? Seems deliberate and strange. But then again I didn't think that was a good PR and others did, so maybe I'm looking at it wrong. But oh well who cares, we are green again!
Be nice Cosmo!
I just thought is was strange, not trying to read too much into it but they specifically address the fact that it was previously released on the 11th. So it was intentional.
From the article today.
In a release on August 11, the Company noted:
Quasar International Holdings Updates Shareholders
08/18/2010 01:19:51 ET
Aug 18, 2010 (Close-Up Media via COMTEX News Network) -- Quasar International Holdings, Inc. (formerly Quasar Aerospace Industries, Inc.) said it is providing additional information regarding its funding progress, status of proposed acquisitions, and ongoing operations.
In a release on August 11, the Company noted:
As previously announced, the Company has severed any relationship with Newby & Associates because of fraud and misappropriation of funds. The Company is working with our attorneys and the authorities to seek repayment of $725,000 provided to Newby & Associates.The funds were originally lent to the company by the Company's CEO, Dean Bradley.These funds were sent to Newby's paymaster account with the understanding that $500,000 of the funds were to be applied to the prepayment of one year's interest on a $5,000,000 loan to be funded within 48 hours, and a subsequent funding of $110,000,000.Newby was recommended to the Company from several sources that we were believed to be reliable. We have recently discovered that Newby & Associates spent most of the $725,000 on personal expenses.
We have also made demands on Clayton Advisors of Chicago for the return of over $425,000 in monies they owe us for their failure to deliver the promised $350MM in bond funding.
The Company is actively pursuing alternative funding sources, including a possible financing transaction involving $300MM in unrated corporate bonds with a 6.5 percent annual interest coupon rate and a maturity date of October 2018. These bonds would be secured with $450MM senior life settlement policies issued by "A" rated or better insurance companies. We have presented the financing transaction to a number of different financing sources, including a major bank in the UK.
We believe that the Company's acquisition candidates remain in place and remain committed to being acquired once funding is in place. We have invested in excess of $2.5MM between three of these acquisitions in order to keep them closely allied with the Company.
The Company is continuing to operate its flight school and aviation repair business and is taking other appropriate steps to manage its cash flow position pending completion of a successful financing event and subsequent acquisitions.
((Comments on this story may be sent to newsdesk@closeupmedia.com))
Copyright Close-Up Media, Inc. 2010. All Rights reserved
Why would they put out the Newby scandal PR again this morning? Is someone trying to f with us, of all PR's t run again.
A fluff PR yesterday, and the pumpers are sending out notifications this morning, Oh boy something is getting ready to happen, good or bad, I like the fact that we are getting to the make it or break it point.
Alex is looking for attention!
Nice close, good day! Maybe he has another PR or two to release before we get the financials
. That would make sure he has some eyes with $ in their pockets looking at USOG.
GO USOG, we continue upwards tomorrow. IMO
Dean was hard to defend, BUT, trashing Landreth and Johnson will prove to be comical at best. They have a very long History of SUCCESS and CREDIBILITY!!!
We are like a dog chasing it's tail right now.
We have a bunch of ghost that we are trying to follow here and the people that we are able to dig up info on have shady past to say the least, they need to give us news and soon. You can't go from closing a gazillion acquisitions next month, a whole bunch of volume with a whole bunch of selling to a 3 month news blackout.
This does not look good it seems that they have used this stock for everything they wanted to and now it's abandoned.
This goose is cooked. IMO
A good CEO surround's himself with good people.
Who else have we dealt with recently who had a bad track record, and ended up swindling QAI just like he did other companies?? Hmmm...who was that???
Alex might be delaying to give him time to pump the stock, I hope this is the case, this would mean good news is coming. So I will be watching for new alerts etc. If the news is good he will want all eyes on it, and finally get us trading where we should be. Why bother to up list if you don't have a good reason?
$ 20,500 into $1,900
And thank god I didn't involve Mom. GLTY
Morning all, looking for things to start turning here shortly. Hopefully today!