Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
This is interesting ...
http://www.comdexent.com/services/
Comdex Enterprises is the parent company of Ceratech. Note that Ceratech is listed as number 1 on the "Main Services" page. Also note that "oil and gas exploration" is listed as number 4.
Comdex is owned by Sean Farazad who attended the University of Maryland, in College Park MD, just south of Baltimore. MMG the agent that just brokered the deal for CSCE is a Baltimore company. The catch phrase in Baltimore's business community is "welcome to Smalltimore" because everybody knows everybody, especially true where the University of Maryland is concerned.
If you click on the "About" tab and go to the bottom of the page it states that Comdex is "currently" privately owned.
No smoking gun here, but some interesting circumstantial evidence.
I usually avoid any stock with pending lawsuits ... Is there a reason not to be concerned in this case? ... I have not yet found a post addressing this ... Not bashing just asking ... Thanks in advance
Calm down ladies ... You are becoming hysterical over conjecture and unrelated events
From 3 Months Ago ... A little Perspective -
Eco-tek worldwide ceo speaks about the company's future plans
[Back]
Published: Apr 28, 2014
TORONTO, ONTARIO--(Marketwired - Apr 28, 2014) - (ETEK) I came to join Eco-Tek in June of 2013 and immediately recognized that it was a great little Company with truly fantastic products but, with the passing of its founder more than a year earlier, it had lost its direction. Even best lubricant in the world and the best oil cleaning system won't sell themselves. Job one was to get more customers. A new team of seasoned professionals joined the Company, most them on performance based renumeration, and they had kicked up our sales. We have been achieving a 50% growth in sales per quarter and we are convinced that we can sustain this kind of growth in revenue for the foreseeable future. Next we had to increase our margins. Working with our suppliers and using smart cost controls we have brought our margins from low 30s to high 40s. Our distribution partners in North America were focused on smaller customers and our international success with larger customers in the mining, construction and transport sectors showed us that we should change up our distribution in North America. In April we started that process with North Dakota and we will add about 10 more distribution partners in North America over the next year. Overall Eco-Tek expects to have revenue of $2.2 million to $2.8 million in 2014. Before I joined the Company, it became a public Company by way of an RTO. The group that arranged this fairly expensive process funded the Company by Convertible Promissory Notes and Promissory Notes. The Company borrowed about $900,000 over the course of last year to pay for its costs associated with filing, legal, accounting and audit work with regards to being a public Company. This group ceased to provide funds in August of 2013 and Eco-Tek has gone to the financial markets to obtain financing since that time. A large portion of the outstanding debt from the period up to August 2013 could have been converted into huge numbers of shares and the Company has taken steps to minimize the impact of this issue by changing out the notes that could have converted for many hundreds of millions of shares for ones that convert for only millions of shares. These conversions have occurred between December 2013 and March 2014 with little or no impact on our shares. The Company has also made arrangements with other note holders to convert their notes into preferred shares that will not impact the common share dilution. The Company also has about $475,000 in debt to the original founding shareholders and they have also agreed to convert to preferred shares. This action plan will take about three more months to complete and it has has two major benefits. One: it significantly reduces the potential dilution. While the total conversion number would vary with share market price, we believe that the overall impact of our action plan will have reduced dilution by about 1.3 billion shares. Two: it almost eliminates the Company debt, new debt excluded. We expect the fully diluted share number to be between 650 million and 750 million plus new shares attributable to stock options. I and many of our senior staff are taking the major portion of our pay as stock options. This action has two large benefits for the Company. First it conserves cash, which is always a valuable commodity for a growing Company, and second its aligns the interests of our team with our shareholders. I like to have everybody in the canoe paddling with the Company. The Company plans two more action items with regards to our share structure. First, in the next short while, we will file for a change in the Authorized Shares from 7 billion to 1 billion, and second, once we have completed the conversions and debt elimination as outlined above, we will commence a buyback program to reduce the total outstanding issued shares by about 250 million. We expect this program to take about a year. Eco-Tek is a great little Company about to get much bigger. We were six hard working people in June of 2013 and we are now a strong team of twenty-seven that grows every month. We will still have our ups and downs but we are inspired by our recent successes and excited by our prospects. We expect to have bright future, make good money and have some fun. We invite you come along and help us on our journey.
It is quiet because some one much bigger than Steve is calling the shots ... My opinion is it is Meineke (sp?)
Perhaps Steve is not the driver. Maybe a larger entity has a wider agenda. Steve may have commented in good faith.
Yeah, it was a bit strange.
Thanks Mik
A little touchy today ... I wasn't aware you were in charge ... Please do ignore me, as I will you
Actually now 1040 on ETrade
That is strange ... Both Investorshub and my E-Trade Pro are showing 100 shares
No shares traded until just before 11:00AM our time ... 8AM their time ... Leaves an hour before 9AM their time ... Good time for an announcement ... All conjecture
It is not unusual to close trading for an hour or more immediately before an impactful announcement ... or it could be coincidence ... Worth paying attention
Marty and her PR people are not dumb. The PR was worded the way it was so as not to steal the thunder from the major announcement of a totally done deal ... The only reason to do it that way is if the major announcement was likely to be within a few days of the update.
I expect we will hear the big news very soon.
nupapa, are you still with us
We are not under the radar anymore. Bashers showing up proves that, and is a very good sign for near term pps IMO
That is plausible as well ... Hope that is the case
The wording of the update included in the 1st Quarter earnings announcement made it sound as though we may wait weeks for an update that will then only outline "steps necessary" to get a signed contract. That is not the quick consummation we had all hoped for ... Sounds like weeks or a month or more ... Therefore traders with a shorter term focus will bail out temporarily and the PPS will retreat to the .03's ... IMHO
I had forgotten about the farm project ... If they can produce electricity from solar arrays, grow additional crops by creating farms, and move the harvested (by harvesters provided by Lee) crops to market, they have created a very positive sustaining situation.
Thanks Jdoggs ...
Excellent information ... Thank you
This actually worries me ... The reason no railroads were built was because there was nothing of value to move. Same with the roads. It wasn't just to torment the locals. If the colonialists have been gone for 54 years and the locals are just now buying trucks ... What have they been doing? What are they going to do with them now? ... How are they creating value? ... How do they pay for the trucks ... Unlike here, apparently there are no productive people to tax ... So how does this not all topple down on the heads of the locals? How does this deal continue on?? The Chinese may be progressives, but they expect to be paid ...
Very likely not the last of the three's ... The shaking may get much worse ... But it is artificial ... Add up the sales numbers and hold on tight
This happens with great regularity just before a penny or pinkie takes off ... The MM's own stock at very low prices and can make very nice money selling below market, often to their good customers ... creating a little uncertainty and a little panic selling that drops the price ... they then can buy back knowing full well things are about to soar ... This is a very good near term sign for AMMX IMO
That was a shake IMO ... Fasten your seat belts and direct your attention to the center aisle as we push back from the gate ...
This is interesting ... Note mention of infrastructure projects late in article.
Niger: IMF Executive Board Completes Second and Third Reviews of Niger's Extended Credit Facility and Approves U.S.$34.9 Million Disbursement
1 April 2014
Related Topics
Banking
Liberia: ADB Launches Evaluation
International Organisations
Liberia: 'Ebola Is Hard to Prevent in Liberi...
Niger
Niger: Amnesty International - 1,500 Nigeria...
press release
The Executive Board of the International Monetary Fund (IMF) today completed the second and third reviews of Niger's economic performance under the program supported by a three-year Extended Credit Facility (ECF) arrangement. The completion of these reviews enables an immediate disbursement of an amount equivalent to SDR 22.56 million (about US$34.9 million), bringing total disbursements under the ECF arrangement to an amount equivalent to SDR 45.12 million (US$69.9 million).
In completing the review, the Executive Board granted the authorities' request for waivers for the nonobservance of the performance criteria on net domestic financing of the government at end-December 2012 and at end-June 2013 and on domestic arrears at end-December 2012. The Board also approved a request to extend the program until December 31, 2015 and the rephasing of the remaining disbursements under the current ECF arrangement. The ECF arrangement for Niger was approved on March 16, 2012 (see Press Release No. 12/90).
Following the Executive Board's discussion, Mr. Min Zhu, Deputy Managing Director and Acting Chair issued the following statement:
"Niger's recent economic performance has been adversely impacted by below average rainfall in the second half of 2013 and the deterioration in the security situation in the region. Looking forward, macroeconomic prospects appear broadly favorable, with oil and mining projects coming into the production phase after 2015.
"The authorities have shown strong commitment to their program supported under the Extended Credit Facility. Key corrective measures, including strengthened revenue collection, closer spending controls, and improvements to the debt management framework, have brought the program back on track after slippages at end-2012.
"Progress in the implementation of the structural reform agenda has been broadly satisfactory. The production of a comprehensive quarterly budget report and the limitation of exceptional expenditure are welcome. Efforts to move toward establishing a Treasury Single Account and prepare quarterly cash management will significantly improve budget execution. Further enhancing the debt management framework will be important to help ensure debt sustainability while investing in high-return infrastructure and social projects.
"Sound management of natural resources will be critical to ensure higher overall growth and faster poverty reduction. The authorities are encouraged to formulate a comprehensive strategy for the macroeconomic management of these resources. Stepping up efforts to complete the restructuring of the financial sector is also key to ensure that the financial system can support growth.
"Inaccurate data on public sector nonconcessional external debt had resulted in a noncomplying disbursement. In view of the corrective actions taken and planned to strengthen debt management and monitoring, the Executive Board decided to waive the nonobservance of the performance criterion that gave rise to the noncomplying disbursement."
Thanks dickmilde ... You have been very kind to share this DD ... I think I will take a position soon
I see 181,000 listed as insider selling. Do you know the background of that? Thanks in advance.
Thanks for that excellent information. I think this looks like a solid company, well priced, at the right time. That was me with the member mark. Thanks again.
Thanks for the insight .. Is there anything to the lawsuit regarding possible dilution?
I've landed here based on good fundamentals. Haven't determined yet if there are any pending events to drive a price rise. 10Q April 15 perhaps ...
Last trade for 911 shares ... $13.67 ... Really??
What was weird?
That is something I was waiting for. Should positively affect share price today and going forward.
The wall is gone. Looks like some panic sellers reread the PR and reconsidered.
Reading SBM News is somewhere between Cheech and Chong and an SNL skit.
That find really makes it interesting. You are the best nupapa.
WOW is right. Nice work. Thanks.
If you find public companies perhaps you could post some of the names and websites. Thanks.
I think AMMX might be one of the few publicly traded companies in the used equipment business. That would make the industry ripe for a big player to emerge and do for used equipment what Carmax did for used cars. All that is conjecture on my part, but an interesting concept.
Try www.jycexports.com