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it is unclear to me what, if anything, spooz still has alive here...
from recent developments at 141, it appears that they are trying to do something over there...although it seems they've switched focus out of the blue from actual trading to a trading platform.
can anybody tell me if spooz has any plan in place to generate revenue or shareholder value?
here are a few thoughts...
ownership in 141?
------------------------------
141 Capital, Inc. (OTCPK:ONCP) today disclosed its share structure.
As of May 15, 2009 there were 1,168,338,925 shares of common stock issued and outstanding out of an authorized 5,000,000,000 authorized by 141’s Articles of Incorporation.
Of the 1,168,338,925 common shares outstanding, 900,685,744 shares are restricted shares, including 300,685,714 common shares that were issued to Spooz, Inc. for a license agreement of Spooz’s technology to 141. Spooz insiders hold 600,000,000 restricted shares.
------------------------------
this might equate to some "value" if 141 turns out to make money some day....however, this value is at risk of dilution.
then there is the wind river deal by 141...
spooz got 300MM shares(from above) for a licensing agreeement of thier technology to 141. if this new TradeTablet somehow uses spooz technology, will spooz see a dime or is all spooz will have to show for is the shares?
-----------------------------
CHICAGO, Jun 16, 2009 (BUSINESS WIRE) -- 141 Capital, Inc. (OTCPK: ONCP)
announced today that its license agreement with its minority owned (35%)
subsidiary, Wind River Development Corporation, (WRDC) provides for exclusive
rights to futures and options brokerage on WRDC's web-based trading platform to
be launched at TradeTablet.com. The TradeTablet.com product, currently under
development, will feature a multi-threaded, price and execution enabled
spreadsheet coupled with a specialized relational database accessible to users
for an affordable monthly subscription. The feature set of the web-based
spreadsheet will enable users to design, construct and store custom spreadsheet
templates for a wide variety of trading strategies and methodologies. In
addition, TradeTablet.com will provide a venue for the free exchange of
templates by subscribers.
The database will enable users to download historical market data, display
real-time streaming prices and to create synthetic custom instruments, such as
user defined spreads and baskets of exchange listed instruments. To accomplish
this, 141 will employ third party connectivity portals to brokers as well as
exchanges around the globe. In addition, 141 and WDRC will develop additional
th ird party relationships for the deployment and hosting of the web-based
trading solutions related to TradeTablet.com. As planned, 141 will apply to the
National Futures Association for registered status as an independent Introducing
Broker. Upon completion of the registration, 141 will have the ability to offer
brokerage and clearing services of selected premier Futures Commission Merchants
to the public at discount prices - a major source of future revenues for the
company, management stated.
"There is no trading tool in existence with the capabilities that TradeTablet
will offer retail and professional subscribers alike," said 141 Capital CEO
Errol Stone. "The ramifications of user-enabled features alone to futures and
options traders are unparalleled in our opinion, and we are very, very excited
about its development and launch," he concluded, noting that the company will
announce a prototype launch date in the near future.
---------------------------
mc, saw your response but still a bit confused...
again, from your posted formula...
B = The average closing bid price of the Common Stock for each of the five (5) consecutive trading days immediately prior to the date of conversion. (This is based on postmarked date the Common Shares were submitted for conversion.)
does the number of shares one gets for converting preferred C back to common depend on a)the postmarked "date" that they converted their common to preferred or b)the postmarked "date" that they convert preferred C to back to common.
if it is a), then the current share price doesn't matter when calculating how many common shares one should get for thier preferred C....if it is b) the current share price does matter.
thanks
mc, wrt your unconversion equation...for 'B' you state posted "B = The average closing bid price of the Common Stock for each of the five (5) consecutive trading days immediately prior to the date of conversion. (This is based on postmarked date the Common Shares were submitted for conversion.)"
for some reason, i thought it would be dependent on the current 5 day average of common upon converting from preferred back to common
does this mean that it doesn't matter what the current stock price is when calculating how many shares you will get during the "unconversion"?
i havent seen any hope in this in a while, but i suppose the pr means that at least the theory of spooz is still alive. we've seen a lot of theory and no proof over the years here.
i am pleased that they appear to still be using spooztoolz at 141. without programmers to update and improve the product and if nobody wass using the software, my biggest concern is that it would become stagnant and outdated.
funmax or MC, i've been away for quite some time. i converted my shares to preferred back in December and got notice in the mail of the conversion(i think it was dated March 9 or 19 but cannot remember exact date). do you know what must be done to convert back to common? also, has anyone here been able to convert back to common yet?...or is there a common date that this will be allowed(ie 90 days from a date that is the same for everyone)?
some fairly big buying....is the seller gone or just lurking? i want more shares...but i'm at a crossroads on whether to chase this or wait and see if it pulls back.....decisions, decisions....
i guess they are motivated to fill larger orders...the 7k at 0.095 is mine....do you use all or none orders?
10, what price did you buy at....i just reduced my order size and upped my limit to 0.1 and got 6000 filled in 2 minutes
would like more but want them under 10
bottom feeding still not working, order at 0.09 not being filled...
well...looks like someone thought 0.095 was a fair price...my order got jumped and left behind
did anybody around here buy any shares in the 8's today? is anyone on this board still buying?
i know there is a lot going on with this story but i guess my ulitmate thought is, unless they do something crazy like major dilution or r/s, anything under 10 should look really good later this year....since they seem to be making products and money, i dont see why they would choose toxic financing at this point.
fidelity shows last price at 0.082 but spread is 0.085x0.095
my order for 5500 at 0.085 is probably being laughed at...gonna see if they'll bend and fill it...why the large spread? seems like it discourages trading....so why?
mc, you seem to have talked to paul somewhat recently. what is your gut telling you about spooz wrt to the value of your shares....dead in a coffin or in a coma with a small ray of hope for recovery? in the latter case, i would think bloomberg would be the only thing that could wake spooz up at this point.
yep, i fear how long they will stall the conversion...oh well, my common shares werent worth anything when i converted and they did a RS like i assumed they would so i'm still comfortable with my decision to convert.....AS LONG as they are eventually converted and the 3 month clock starts AND the stock is liquid (ie sellable) by the time i can convert back to common, i'll be happy....a lot of IFs in there...
i agree, as long as they continue good monthly performance and increase trading money in thier account this should have some hope and life
ahh, thanks seeker, looks like you answered my question before i even asked it.
So, under the Q&A, the offer letter stated the following...
"No conversion of Series B Preferred Stock to Common Stock can occur until after a holding period of three (3)
months of the date of the certificate."
If our surrendered shares hav not been fully converted, then I assume the "date of certificate" has not been set. IF this is true, than we will have to wait an additional 3 months from that date, whenever it occurrs. Ultimately, this means our shares could be stuck in limbo for a while. While I knew this was a risk going in...i could see this situation getting really annoying if our shares aren't fully converted soon!!!
Please correct me if anything I assumed/said above is innacurate....anyone talk to Errol on when he expects the offer to be complete and the "date of certificate" set?
MC, i called Fidelity and asked if my shares had been converted to Series B Preferred b/c I was still seeing a volume of shares owned that matched my pre-conversion total of common shares....they said that the exchange was still in process and that it had not been finalized yet??? this did not give me a very good feeling....has anyone spoken with errol on this matter? should have the preferred shares been issued by now? is my status any different from the rest of those who chose to convert?
see my previous post for what my position on my fidelity website currently reads...
my fidelity shows "xxis corp exchange offer from cusip #########", it then lists the # of common shares that I held prior to conversion and n/a for the most recent price
you act like you know everything about this situation from the slivers of information that have been made public. it is impossible to know if spooz is truly dead or not. however, i will agree that the situation is currently very dim!
the fact that the following is still on the kaitrade website is about the only hope i have left. why would they take down other information about spooztoolz but leave this up for all to read????
Spooz Completes Restructuring of Its Business and Licenses SpoozToolz to KaiTrade LLC
Spooz Completes Restructuring of Its Business and Licenses SpoozToolz to KaiTrade LLC
Friday October 10, 6:00 am ET
CHICAGO, Oct. 10 /PRNewswire-FirstCall/ -- Spooz, Inc., (Pink Sheets: SPZI - News) announced today that in order to meet today's economic conditions it had moved its offices and restructured its business to reduce costs. Paul Strickland, Chief Executive Officer, announced that the Company had combined quarters with 141 Capital in at 29 South LaSalle Street Suite 333. The company has also reduced its staff and has transferred its telephone and other services. He also announced that the Company has licensed the distribution and support for SpoozToolz to KaiTrade LLC on a non-exclusive basis, revenue sharing basis. That company is run by John Unwin, former Chief Technology Officer of Spooz. Under the agreement, Spooz will retain all of the product and intellectual property rights. Mr. Strickland added, "By taking these steps, Spooz is endeavoring to meet today's challenges and enhance stockholder value."
John Unwin commented, "This is an exciting partnership that combines the strengths of KaiTrade and Spooz and presenting new opportunities for significant revenue and value growth." KaiTrade's first priority will be to install SpoozToolz at Spooz's first major customer.
Within one year that customer could generate sales of up to 1,200 installations of SpoozToolz at a contracted price of $ 400 per month per installation.
http://www.kaitrade.com/News.html
back to stealth mode for a few months.
thanks for sharing your response.
"I can say that KaiTrade is busy devloping custom products for our clients in Chicago these do not use any parts of SpoozToolz, and are very different in terms of what they do."
while kaitrade decided to remove spooztoolz from their website, they did not remove the PR which basically states that they all came from spooz and that they would be working with a client to incorporate spooztoolz into a trading platform. the fact that this PR is still on the website, even if they took down some other stuff, makes me hold out hope that they are still working with bloomberg and spooztoolz.
http://www.kaitrade.com/News.html
if bloomberg put the brakes on the project, i can imagine why they would 1)want spooz to take down the bloomberg news on their website and 2)not want kaitrade to show any hints of what is being developed. again, i hope bloomberg "strongly recommended" that some of this info not be shared with the public...but who the hell knows. we are not in a position to get answers and that is very frustrating.
if bloomberg is going to use spooztoolz and they wanted to wait until end of 2nd qtr, i can also see why kaitrade is looking for other revenue streams to pay the bills. what ticks me off is that they should still be working at spooz on adding revenue streams...but whatever.
either the game is over or there still exists some hidden potential with bloomberg. it looks like some believe the game is over and are selling at 0.0001. i still value my shares a little north of that so i will stick around.
just trying to get the lowest price possible is all...and was curious if they would come down to meet my offer...i could buy a nice steak for $30
yeah i dont know...i just know they partially filled my order last week and that pissed me off so i was trying aon...
how do you know there isn't a ND agreement between spooz/kaitrade and bloomberg? i'm not saying there is but it is a possibility...at least, i hope it is...
my aon order for 6000 at 0.135 has been in since before open and i've got nada so far...it seems to me that the seller is being quite stubborn
overall, i realize that there is a risk of it going lower due to the 144reg but i also think that could dry up or come to a stop at any time and when that happens i want to make sure i am in position
Interesting indeed...my hope is that bloomberg wants the lid sealed on anything related to spooz, if a deal has been struck, a ND agreement would is not that far-fetched imo
anybody have a google account, or whatever is needed, to post a comment on the blog asking if they are still working with spooztoolz? maybe he'll respond, maybe he wont. at least it is an avenue of communication.
4mars...i put an aon order in for 5500 at 0.14 today...so far it is still showing as unfilled in my account...
didn't fill completely...i only got 2017...
i put in an order this morning before i left for work for 7000 at 0.135 and i just checked it to find that they only filled 2017 of the 7000 so far...i dont have the time to watch it as close as you are(w/ level II) so if i can get some at 0.135, i'll be happy with that
share structure is a mystery...hoping to find out after the dust settles on the preferred conversion
well, i put an order in for 3M this morning on the following logic....(so some of those could be me)
-I converted all my shares b/c i was afraid of a R/S and wanted to reduce as much risk as possible in an investment that was already red
-Decided that i wanted a little skin in the game in case they surprise me and dont R/S and somehow get the sp on a run
...basically a $300 lotto ticket
good info Game and waller...thank you for sharing!
ive got mixed feelings...excited to hear of some more confirmation that a deal with a giant is real yet dissapointed at having to wait yet again...this carrot is always hanging just out of reach...yet just close enough that the donkey doesn't lose hope...and it turns out that being the donkey is not very fun
having to wait another 5-6 months is unfortunate but if bloomberg decided they were going to stall that long, it sure makes sense why spooz disbanded to kaitrade and moved in with 141...one can only hope that there are some other things brewing that might make coin for spooz in addition to bloomberg...with low overhead it wouldn't take much to turn a profit even after giving kaitrade their cut...
NDA? Why would Kaitrade take down spooztoolz from their site? I found this post on the 141 board by thebermellon to be interesting...let me be clear, these are possibilities and not probabilities imo....we dont know the truth to why the website was changed so everything is a guess at this point...
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=34952491
"I agree and it is a great symbol.
Thinking out loud on NDA's, as to possible reasons for one between Bloomberg and Spooz.
1. Bloomberg is a 800 pound gorilla.
2. Bloomberg is a privately held company for what purpose? Duh
3. Bloomberg promotes and sells it's own suite of products.
4. For competitive reasons would like to reduce competition.
5. Using Spooz to create a new trading paradigm with
Bloomberg's name all over it.
6. Spooz gets the money but not the glory.
A. Kaitrade a private company not having to report to
shareholders is used for the integration of Spooz into
Bloomberg Professional service of products
B. In keeping with all of the above maybe Kaitrade
pays Spooz out of Bloomberg revenues directly going to
Kaitrade. Thus a Spooz disclosure reports revenues
from Kaitrade not Bloomberg. Again Spooz gets the
money but not the glory.
7. The big institutions might all want such a scenario so
that the Spooz name is not all over the place and thus
attracting it's own following using these same
institutions to pull off an end around to directly get
recognition and provide a direct service at a greater
profit.
8. Bloomberg may be the one contract with money guaranteed
up front.
9. With revenues to pay tech support other contracts will be
implemented.
Just thinking out loud."
i agree and hope your logic is right wrt to spooz...if 141 puts out positive trading results, that would mark the first "proof" that spooztoolz is an effective trading tool since they are using it...if a deal with bloomberg is confirmed, that would prove that the tool is as good as it has been advertised over the last few years...i hope but am not holding my breath wrt the latter
i like the fact that it is so recent...a reason to hold out a little hope here that things are still progressing even if we are being kept in the dark...imo...
kaitrade customer support
http://getsatisfaction.com/kaitrade/people
if you hover over each person...you'll see that jim set up his profile jan. 7th so this is very recent
...only problem is that, if you click on 'topics', there are no entries in it yet...not sure why you'd set this up if you weren't planning on having customers to talk to and support at some point in the not-to-distant future...especially if kaitrade is paying getsatisfaction.com for this...
gotcha, sounds like a good strategy to me...
Zorro, you still lurking around here? you still have any hope for the bloomberg deal?
you meant, it doesn't mean a hill of beans to you...
actually, i think only two people mentioned that they called and confirmed the contract with bloomberg and i only believed one of them....also, kolonopin was not one of them...at least that I can remember...
when zorro posted this...
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=32403153
it held a little weight b/c I had read a lot of his posts(not just on spooz board) and i hold a little trust in this poster....therefore, his apparent confirmation gave me a bit of hope that this deal is not a complete fabrication...imo
blue, i was going to ask the same thing...after spooz posted the announcement on their website, a few here said they had talked to bloomberg and verified that they were working on something with spooz...although, i dont remember which poster(s) it was.
i'm not certain b/c i dont follow level II but i'd guess this has happened before in the last month or so...or if you've been watching this whole time...please correct me if i'm wrong.
also, they could avoid a r/s to get things going if bloomberg is real....imo.
good timing imo...i own about half your share count for much more than you paid. i am quite envious.