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Please inquire about how CVSU came to be worth $800 million. Intelligent investors need to know.
Who is US?
I didn't mention IHub, I mentioned FHAL, CVSU and the principals.
Yes, I never find it funny. I find it sad. Mostly I find the deceit sad... people pretending they are sincere as they shepherd the lambs to slaughter. That is an ugly thing.
I predict an SEC halt.
I did fill out their 'tip' form, though I doubt that has much effect. Hopefully the volume and price rise has attracted their attention.
Rude but funny. LOL
I found the 'audited financials'. There are no footnotes. There is no audit opinion. There is no auditor mentioned from whom to get verification.
Not really audited financials.
I'm not long the stock, David. I'm short. I found a borrow today.
Are there really audited financial statements for CVSU?
Sorry, I just don't call companies. In truth, I have a bit of phone phobia. I'd email back and forth.
I appreciate your point though.
Hi David:
I guess they make that sound believable to some people, but it just makes no real sense.
I have an MBA in Finance and Accounting, and have worked in finance for 25 years.
First, I haven't seen audited statements, can you provide a link please.
Second, assume the $800 million is real. Assume for discussion purposes that CSVU has 60mm shares and FHAL has 60 mm. Now they merge, and with a 1:1 share exchange there are now 120mm shares. Now the CSVU shareholders have just diluted themselves 50%, and their book value per share has gone down by half. If pre-merger CSVU would have traded at book value that's about $13 per share. Now, post merger, at book value, they would trade at $6.50 or so. They just gave away $400 million.
This will not happen in the real world.
Thanks for the civilized post, by the way.
I'm not interested in the internet taunting thing. I'll let you continue on your own.
Thanks for the advice on calling. I appreciate it. I doubt I'll get up the nerve to do that though. It's just not my thing. I'll let you guys do that. I do this.
Call the CEO and ask him about the CVSU financials.
Here's the asset side of the CVSU Balance Sheet as of 3/31/2006 from the FHAL 8k. (complete with spelling errors)
$9000 in cash and $800 million of mysterious stuff.
ASSETS:
Cash & Cash Equivalents $ 9,146
Interest Recivable $ 33,125,000
Total Current $ 33,134,146
Stables $ 277,000
UCC Security Notes $ 310,138,000
Total Other Assets $ 310,415,000
Long-term Investment in Bonds $ 500,000,000
(see footnote)
TOTAL ASSETS $ 843,549,146
By the way, no footnote as far as I can find. I'm telling you these numbers are false. CVSU is not worth hundreds of millions of dollars.
Have you asked your self where this supposed $800 million of book value came from?
The 15c-211 stated book value of around $200,000 at September 30, 2005. Six months later they are worth $800 million?
How did that happen? Please. It's all just a bunch of made up junk, in my professional opinion.
No audited statements. CEO with suspect background. Confusing PR's. It all adds up to one thing.
Only a scam could run that much. The real world does not see value increases like that, except in huge bubble mania periods. People hope for it, but dreams are not reality.
Saying this 10 cent stock can be worth $15 is the same as saying someone is willing to give away $14.90 per share. No one is giving away $600 million, least of all Paul R. Harris.
You guys are letting your dreams cloud your perceptions.
Folks, please be very wary of this stock. Please look at the past history of the people here. Check the BBAN filings in 2004. Rufus Paul Harris, using a variation of that name, was CEO of BBAN in the past. He was dismissed.
Please check the history. Don't get taken for a ride.
There is no way this stock is going to $15. In my opinion, this is a scam.
Peter
Paul Harris and Ben Stanley are currently involved with CVSU and FHAL. Check out the trading on FHAL the last few days and also the press releases.
Shades of BBAN 2003.
If these are "True Americans" our nation is doomed.
FHAL related facts from filings:
http://www.investorshub.com/boards/read_msg.asp?message_id=12120824
these will not be deleted
Also as a subsequent event, on May 12, 2004, the Company filed suit in
Nevada District Court against Enhancement Holdings, LLC, Paul Harris, Benjamin
Stanley and John Walsh for fraud, negligent misrepresentation, breach of
contract and rescission. The suit was removed to the United States Federal Court
for the District of Nevada on May 19, 2004. The lawsuit arises out of an
agreement between the Company and Enhancement Holdings, LLC pursuant to which
Enhancement Holdings, LLC had agreed to provide a Bond to be used to facilitate
a line of credit up to $57,000,000 for the Company. On June 8, 2004 the court
entered a temporary restraining order enjoining Paul Harris, Benjamin Stanley
and John Walsh from holding themselves out as officers and/or directors of the
Company and prohibiting them from selling or transferring any shares in the
company. On June 16, 2004 the court entered a preliminary injunction to the same
effect. After a further hearing before the court on July 22, 2004, the court
ordered that the preliminary injunction be dissolved and ordered a new order
whereby, the shares that were issued to Enhancement Holdings, LLC, Paul Harris,
Benjamin Stanley and/or John Walsh cannot be sold directly or indirectly until
such time the court deems otherwise. The Matter is set for a hearing on December
12, 2004. The judge further ordered the three defendants from holding themselves
out as officers of the Company and placed Dr. Tripp and whoever he designates
solely in charge of the day-to-day operations of the Company. The court also
ordered the Company to hold a special shareholders election to determine who
should serve as the Company's directors
These posts shed light on the business histories of the principles of CVSU. They are highly relevant.
from BBAN 10K
On February 28, 2003 BBAN received a 100 Million USD Insurance Guarantee
Bond from Enhancement Holdings, LLC which was to be held in Custodian
safekeeping by Republic Bank and Trust in Norman, Oklahoma for credit
enhancement purposes. Enhancement Holdings, LLC along with Stanley Holdings
Business Trust are engaged in the business of corporate financing, business
consulting, debt instrument financing, international trade and asset
enhancement. Paul Harris is the Chairman and CEO of Enhancement Holdings, LLC
and Ben Stanley is Chairman and CEO of the Stanley Holdings Business Trust.
Under the agreement Enhancement Holdings, LLC will receive 3 board seats on the
BBAN board and a ranking equity position upon liquidity.
On July 9, 2003 BBAN received a Timber Deed valued at $31 Million from
Stanley Holdings Business Trust currently held in safe keeping at Hancock Bank,
Gulfport Mississippi.
from CVSU 15c-211
Rufus Paul Harris, Chairman (37) - Mr. Harris has been Conversion
Solutions, Inc. (OTC: CVSU) President, Chief Executive Officer, Treasurer
and Director since June 7, 2005. Mr. Harris is a self-employed business
consultant, specializing in high end corporate financing. From June 15, 2004
to June 7, 2005 Mr. Harris was Chief Executive Officer and Director of
Waatle Holdings Corp an Arizona corporation. From August 1, 2002 until
December 16, 2004 Mr. Harris was the Chief Executive Officer of Broadband
Wireless Corporation. He is also the founder, director, and CEO of
Enhancement Holdings LLC from May 25, 2001 to present. Mr. Harris is also
the Co-Founder of GHW Group, LLC from November 1, 1999 to present. Mr.
Harris from July 2004 to present is the co-founder of Songwi Trust.
EHLLC failed to perform its obligations under the agreement. Furthermore, the company has been provided with evidence that the bond is underwritten by insolvent companies and has been assigned to other parties, one of whom recently received a multi-million dollar judgment against EHLLC and its officers/directors in an action alleging fraud and other improprieties. Additionally, the company has reason to believe that EHLLC and its officers/directors have committed other infractions which are under investigation by the company's counsel and others. The company intends to pursue all appropriate legal remedies against EHLLC, Paul Harris, Benjamin Stanley and John Walsh on behalf of itself and its shareholders.
As a result of the cancellation of the agreement with EHLLC and the ongoing investigation of Paul Harris, Benjamin Stanley and John Walsh, their appointment to the company's board of directors has been rescinded.
On April 4, 2004, the board of directors of Broadband Wireless International Corporation (OTCBB-BBAN) (hereinafter the "company") passed a resolution to cancel the agreement entered into on December 29, 2002, by and between Enhancement Holdings, LLC, Stanley Holdings Business Trust (referred to herein as EHLLC) and Entertainment Direct, TV, Inc./Broadband Wireless International Corporation. Such cancellation is based on the fact that pursuant to the terms of the agreement EHLLC was to place on the books of the company a 100 Million USD Insurance Guarantee Bond. The bond was to be used to facilitate a $57 million credit line for the company. Under the agreement, the company agreed to render three (3) seats on its board to EHLLC. The three members appointed to BBAN's board pursuant to the agreement were Paul Harris, Benjamin Stanley and John Walsh. Harris and Stanley are directors of EHLLC and Harris is the CEO of EH
oops, i may have to buy more to average down... it can't keep going down forever
Wow, bargain price. I'm picking up tons of shares here.
Great company.
Can you hear the beeeeeeep beeeeeeep of my truck backing up?
basher
How is it going with STTK?
Gosh, I hope no insiders are selling, causing this gigantic price decline. Nah, that would be immoral.
Pumpers still working overtime on this scam I see. Even working on the weekends.
Hilarious pile of @#$!@#.
Please get that price up again so I can re-short. TIA.
OK, I'm done here...it's silly for me to spend too much time on this. May justice prevail!
Did I offend you?
Still no falsehoods.......
I post plenty on SI and other places. I'm here because I find this particular scam particularly scummy and it tickles my sense of outrage.
Why our society lets these scams go on and on and on is beyond me. It really bugs me.
Personally, I'd be better off if the STTK stock went up at this point, having fully boxed my short yesterday..somehow you guys get under my skin enough that I post against my own self-interest.
Please, do yourself a favor and find something more productive to do with your life...
Help!! I've lost my falsehoods....
falsehoods? still waiting.....
any falsehoods yet?
name one falsehood
"we want to ally any concerns our shareholders may have had as the result of any rumors or innuendo."
Yes, this statement IS an ALLY of the concerns and does nothing to ALLAY them.
No comment re Goodwin Wang, for example. That was not innuendo - that was a link to SEC litigation. No comment on the rumor of SEC litigation?
uh boy....are you guys still into coke up there, or is it meth now? Addicts will say anything to get their fix.
Classic snippets from PR:
"We would like to assure our shareholders that our technology does exist"
What a relief.