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nice news out on that one...its gonna go!
Short volume
20100420|ARSC|13035000|132070248|O
for yesterday
Nice seeing the board marks rising again!
Time to wake up!!!
lol...I was asking a question...was hoping you knew that as a fact..
Opinion or fact?
There for a min it was .005...they pulled it back up.
Why is it everytime a sell goes through..the ask drops??? GRRRR!!!
Yup you called it and there it is..lol...person mark for ya!
Yeah they will probably buy...those ridiculus bids are probably them instead of at the ask...thats what continues to hold us down when its trying to run...grrrr...if all these new traders would slap the ask we would be in better shape right now!!!
Accurate bid or trying to entice selling to help the shorts cover?
Quartly through June 2009 was released last week- still waiting on the rest...they have I believe until the 29th per their funding agreement.
Good morning!
You shouldn't have removed yourself :(!!! We like you as assistant MOD...and we all missed you when you were in Jail!!!You bring a lot to the board and IMO most people on here has nothing but respect for you!
Well thats 3 board marks we have lost today!!! Thank you Mr. Flipper!!! Will you please move on now and make your money elsewhere as you have cost everyone on this board enough money.
Wow-- I do believe this statement just changed...thats wierd. Oh and we lost another board mark.
Well...they said they promised to change the symbol- that happened. They promised to not issue new shares, so far thats true...other than that...I really got nothing.
Bid support on L2 looks pretty scarey right now!
What productive thing can we do right now as a board to entertain oursleves while we wait? Any creative people on here with some ideas?
So it appears we are waiting on the 10Q's for period ending Sept 30th and Dec 31st and then we uplist. And they only have until the 29th to get those out for the additional financing! Not much longer now!!!
I think we just lost another board mark :( Lets all hope it was our flipper!!!
If anyone wants to give me some pointers email me at melissa_l_13@yahoo please !!(I don't have PM here!) lol
Oh how I wish I was a flipper...making a measley 50 or so bucks a day instead of sitting here looking at the money I have lost. I took a hair cut back in January (sold at the ask)...continued to watch this stock drop...when I felt it hit bottom I used those same dollars to buy back in lower (at the ask) but of course came out with more shares. A week or so ago my account was positive...almost made up for the loss I took...but again I held and again I am at a loss. Maybe I need to study these day traders...learn the secrets...they evidently are doing a lot better than I am!
Yeah thats true too!! And even with all that they extend the share issuance. They have to be making money somewhere to compensate their losses. Looking forward to finding out all thats in the pipeline.
Lets keep in mind that this year they themselves have purchased stock... 100,000 shares @.009, 100,000 shares @.008 and 500,000 shares @ .0051. So as of right now they too have a loss of a little over a thousand. I'm sure thats not as much as some of the people on this board..but never the less they are at a loss too! Just saying...
Dangling carrots in the form of divies that will never come? Hmmm..whats in it for them? They are not diluting...they keep extending the date...the share structure has remained the same. Why would they issue PR after PR to keep us updated? People call it fluff PR...they are probably calling us ungrateful! It sucks how long it has taken them to do what they said they were going to do...but it's going to happen. Right now it is what it is.
Are you just blowing off some steam..or saying your getting out?
Been out all week and come back today and wow! Lets see we have our updates so the next tranche of funding will be coming! We will start production this quarter! We have some major shorties that are going to need to cover...the ones that are bashing here no doubt!!! We will be filling in those orders that are backlogged, I know I read some DD about those customers have not as of yet replaced us. And I do believe we still have that spin off to look forward to! Gonna be a good year!! I see we also have a new MOD and assistant...hmm..thats interesting too!
Everyone knows that things do not always come to fruitation when its expected...its pinks. Everyone on this board also knows we have a daytrader flipping this stock for a small gain every single day for months...(although I am sure he/she isn't making as much now as they use to!) We have been pissed about that for awhile and some people want to take that out on the company in emails! Great- now they are mad about it too!!! At least they are in a position to provide us with some information about the problem!! Yeah it would be nice if the names they replaced corresponded with the Board!( I bet everyone would be suprised about who these traders are that are keeping the stock down...I'm sure it is people everyone trusts!!!) Regardless of what they are able to tell us...at least we will be able to see it for what it is....maybe we should thank them for that. ACDU has a right to be upset...as do we...just remember they have told us they will be doing a number of divies...I suppose we could bomb them with emails so we can lose those too!!!!
This is what I found on Ballard:
[/Ballard Power Systems Inc. was founded in 1979 under the name Ballard Research Inc., primarily to conduct research and development in high-energy lithium batteries.
In 1983, Ballard began developing proton exchange membrane (PEM) fuel cells, powered by hydrogen. Proof-of-concept fuel cells followed shortly thereafter and from 1992 to 1994, sub-scale and full-scale prototype systems were developed to demonstrate the technology. These systems evolved into pre-commercial prototypes and initial commercial products.i]
It wasn't until 2001 that they introduced the worlds first commercialy available fuel cell. Appears to have taken quite a bit of time. I think with ARSC it's not really about comparing them to Ballard as ARSC is trying to improve a product that already exists and making it more cost efficient. Seems if their technology is proven to be better and is patent than maybe Ballard will end up being one of ARSC's customers.
Why, has ballard took over our backlogged orders?
Nice buys going on at the ask!
OK- so to recieve there next tranche of financing they were given 90 days to comply. That gives us until April 22nd to get current. I would think they would be filing anywhere between April 15th and the 22nd. If that happens we will uplist, and giving the company the benefit of the doubt we will start production with that additional financing. Anything can happen in the land of the pinks... I think I can hold out for 10 more days to see what happens here. If the short is for real...that filing and uplisting could mean some really big news for us!
So we will be getting a short report every month for the next 6 months at ARSC's expense of $995 a pop??? Very interesting...
I want so badly to believe that this is a good thing and will help us go back up...yet I fear that they are forking out this money because they make more off the dilution thats been going on but buyers have dried up and they are trying to entice people!
SO....we are getting very close to the 90 day mark
Date : 01/22/2010 @ 9:52AM
Source : Business Wire
Stock : American Security Resources Corporation (ARSC)
Quote : 0.0002 0.0 (0.00%) @ 2:05AM
ARSC Receives First Tranche from St. George, Appoints New Auditors
American Security Resources Corporation (Pinksheets: ARSC) announced today that it has received the first tranche of funding from the St. George Fund under their new funding agreement. The funding agreement requires ARSC to bring its SEC filings current and in compliance with SEC rules and regulations within 90 days. Once ARSC is in regulatory compliance, it will apply to have its shares re-listed on the OTCBB.
Once that happens:
Bob Farr, President and COO of ARSC, stated, “After our filings are current St. George is prepared to step up their funding levels to help us achieve our production goals. We met with the accountants this week and believe that we can have 2008 filed by the first part of March and 2009 filed on time in April.” Farr continued, “We expect to start commercial fuel cell production as soon as our JV with Comentum is funded which they tell us is very soon. The JV will fund against our existing $21 million purchase order backlog.”
I know...I know...we have some naysayers on the board...In my opinion this is the make it or break it month for us..If it doesn't happen this month...It probably isn't going to! I can wait the next couple of weeks out...we could see some things turn around here!!! If they release updated financials and we get re-listed it's game on!!!!
Awesome!!!! I like thoughts from the fishtank...ohh and all those great calls too!!!
I doubt it too....but the more I am reading it the less I believe it is BGOI diluting. I honestly think it is Triumph and the company has no control over them excercising that right. The company cleared some debt...and yeah it was at the expense of the shareholders. Playing devils advocate the company also spent some money and did some promo before the split and it made a lot of people money. Those that were left --some got burned, however after Triumph is done selling the company may send out some PR's on specifics people are waiting on as far as producing wells. We know financials probably won't show anything good but this year may be a turn around with the producing wells...who knows. All those on here that want to call it cow pasture or whatever I'm sure has there own agenda...to get in cheaper. I for one wanna see facts and think opinions should be backed up with some supporting evidence that leads a person to believe what they believe.
After reading this a little closer
The Restructured Notes are convertible into common stock, upon the Company increasing its authorized shares of common stock to 1,500,000,000, at Triumph's option, at the lesser of (i) $0.005 or (ii) a 50% discount to the average of the three lowest trading prices of the common stock during the 20 trading day period prior to conversion. Triumph has agreed to restrict its ability to convert the Restructured Notes and receive shares of common stock such that the number of shares of common stock held by it in the aggregate and its affiliates after such conversion or exercise does not exceed 4.99% of the then issued and outstanding shares of common stock
If Triumph can not own more than 4.99% of outstanding shares then they can only convert 74,850,000 at a time. They HAVE to sell to continue converting to get their money back. Again...JMHO
What about this? If I am reading it right Triumph bought the $750,000 secured note and had the option of converting it to common shares at the price of .005 per share. This makes Triumph holding 150 million shares. BGOI agreed to this to clear the debt to stop from having to file bankruptcy. Hence why the O/S was increased to over a billion shares- to allow the pay off of Triumph in shares and to allow themselves to be able to dilute also. Of course Triumph would sell their shares on the open market- try and make their money back someway as it appears BGOI is financially unstable considering they are trying to prevent bankruptcy....all JMO of course. Anyway here is the link http://ih.advfn.com/p.php?pid=nmona&cb=1270324818&article=40650392&symbol=NB%5EBGOI
In January 2008, the Company issued 14% Senior Secured Promissory Notes and Security to accredited investors for an aggregate principal amount of $800,000 (the “January 2008 Notes”). One accredited investor held $750,000 (the “Secured Note”) of the January 2008 Notes (the “Secured Investor). The January 2008 Notes matured on January 31, 2009, with interest payable on a monthly basis. The Company’s obligations under the January 2008 Notes are secured by the Company’s interest in three prospect areas located in Borden, Hidalgo and Brazoria counties of Texas. In addition, in May 2008, the Company entered into a Securities Purchase Agreement with the Secured Investor providing for the sale by the Company of an 8% convertible note in the principal amount of $750,000 (the “May 2008 Convertible Note” and collectively with the Secured Note, the “Restructured Notes”). The May 2008 Convertible Note matured on May 14, 2009, and interest is payable on a quarterly basis. The May 2008 Convertible Note is unsecured, however, in the event that the Company grants a secured interest in its assets in connection with any future financing, then the holder of the May 2008 Convertible Note will be entitled to a pari passu interest in such secured interest. The May 2008 Convertible Note was convertible into the Company’s common stock, at a conversion price of $0.3742 per common share, as adjusted, and is subject to normal and customary anti-dilution provisions. The Company has been advised by Triumph Small Cap Fund, Inc. (“Triumph”) and the Secured Investor that Triumph has purchased the Restructured Notes from the Secured Investor. In order to induce Triumph to convert the Restructured Notes into shares of common stock and, in turn, to reduce the Company’s debt and avoid potentially filing for bankruptcy, the Company entered into a Letter Agreement with Triumph on December 2, 2009, pursuant to which the Restructured Notes were amended providing that Triumph may from time to time convert all or any part of the outstanding and unpaid principal amount of the Restructured Notes into shares of common stock.
The Restructured Notes are convertible into common stock, upon the Company increasing its authorized shares of common stock to 1,500,000,000, at Triumph's option, at the lesser of (i) $0.005 or (ii) a 50% discount to the average of the three lowest trading prices of the common stock during the 20 trading day period prior to conversion. Triumph has agreed to restrict its ability to convert the Restructured Notes and receive shares of common stock such that the number of shares of common stock held by it in the aggregate and its affiliates after such conversion or exercise does not exceed 4.99% of the then issued and outstanding shares of common stock.
The Company will continue to reserve and keep available at all times, free of preemptive rights, all shares of common stock available enabling the Company to issue the shares of common stock upon conversion of the Restructured Notes. Upon increasing the authorized shares of common stock to 1,500,000,000, the Company will reserve a sufficient number of shares of common stock for the purpose of enabling the Company to issue the shares of common stock.
Coyotesaz- Help me understand this please: The way I am reading it is: there were 60,000,000 shares authorized then as of January 20th,2010 the authorized became 1,500,000,000 of which 60,000,000 went toward the forward split. Seems like this put 60,000,000 into the market immediately to shareholders for a total of 120,000,000 and left them with 1,380,000,000 to dilute?
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=6972995
And if this is correct are you saying with what they have diluted so far this means there are still 720,000,000 left to dilute? I'm still looking for the payment to Triumph- I'll post if I can find it.
Oh and I had sent out an email to the company asking if they could let us know how much is left to dilute into the market- been 3 weeks and no response....just sayin.