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You might want to compare the sticky notes with my posts.
I have been posting that I did not believe managements claims of a 2nd shift working during the first 6 weeks of the year. I have a completely different opinion regarding the 2nd shift and overtime.
Come May 15 I think my post will prove to be correct when the 2nd quarter financials are posted.
glta, goodh2o1
Dated February 22 2012,
"We finally have begun production with one of our new large automotive programs and are expecting to commence with production for our industrial project within the next four weeks.
Let's hope production has begun.
glta, goodh2o1
If you only knew.
Hey! This guy got fired around the 1st of Dec..
fyi, goodh2o1
Proof? At least six maybe eight visits to the plant.
First visit the Monday after Thanksgiving, I saw Rainier's 60K insider buy thought it was interesting. I started checking out the company and saw it is located just off the interstate by getting off at the 16 mile marker at Bridgman, MI.
Talked to the lady standing outside the office door smoking at Colortek. I asked if they were hiring, she stated not then but they expected to hire more later in the month, the month being Dec.
I visited a time or two more, stopped by just after the 1st of jan on a saturday, they were not working and looked at the palleting material, and boxes of stuff sitting in the yard. I have worked at warehouse facility before and was looking for markings on the pallets hoping to find out more about the industrial customers, some large companies put their names on their palleting.
Sometime around the week of monday the 9th of January, stopped a worker leaving the parking alot. He told they would be hiring more people, I asked about a 2nd shift, he stated their were only 4 people working the second shift. I asked about other work than for automobiles, he said their was something in the works for what he thought was an Italian company, there was some holdup on that work. He didn't have any other details.
Went to the casino that day and found a person at the casino who lives with 2 people who worked at colortek. I was playing craps and one of the dealers gave me the information. Talked to this person the next week and was told they had been working mandatory overtime. The overtime ended after that week.
A few days after the conference call, I visited the plant a little after 2pm, talked to a father waiting to pick up his son from Colortek. Asked if there was a second shift, he stated no, that all the 2nd shift people got moved to days.
I intend to go by the plant again just as soon as there is an announcement for the CNH deal.
Go back and check my posts, I did not question the 2nd shift information, until I did 2 visits to the plant after the conference call. There was about 4 people working the 2nd shift for a week maybe 2 weeks in January, in my opinion based on my visits to the plant.
Up through about the 10th of February I did not see indications of 2nd shift work. I haven't visited the plant since about the 10th of February.
Believe me, or don't believe me these are the facts I have seen, I choose to hold more than 1 million shares.
GLTA, goodh2o1
They have had plenty of parking spaces, just no cars in those spaces during Dec, Jan, and for 10 days in Feb.
18 cars is the high I ever recorded for the first shift, 4 for the second shift.
There was no mention of work being started on CNH, we were still getting it sorted out to start work in April, per the conference call.
GLTA, goodh2o1
They don't have a signed contract and they don't and have not mentioned POs a the conference call or in the February release on financials.
Only talking about the CNH information.
Didn't happen, hasn't happened ever!
GLTA, goodh2o1
I'm only talking about the CNH potential contract. I don't believe there is a signed contract at this time.
If it was a signed contract we would have a PR.
GLTA, goodh2o1
Theres not a signed contract in my opinion, most the time that is what is preferred.
You have alot of very good points, I'm not disputing most of those points.
The only point I'm making today is we do not have a signed contract for our industrial line of work.
If we had it we would make it be known. We only disclosed who the industrial client was supposed to be, that's it that's all that was disclosed during the conference call as far as the industrial client.
For all the reasons you list is why I'm still here, we have alot of good things going, but we don't have an industrial contract that is signed and can be PR.
GLTA, goodh2o1
As far as the conference call and the tweets after the call, they only revealed who the potential contract was with and they tweets you mentioned after the conference call are just saying thanks for the compliments.
If they had a signed contract they would tell us.
They are making it the best they can, we look to make good money off this thing, they will be really rich.
They could have shot themselves in the foot by revealing who was in the contract.
What about the people who had the contract, heard about it and stopped production on what we were to replace. How would that squeeze CNH, if the other company met our price do they switch? What if they asked to meet our price?
Put yourselves in their shoes, your going to lose a 50 million dollar contract, how many stops do you pull out to save the contract. If your going to lose the contract do you bail early to stick to CNH? Losing the contact might put that company out of business. If they would be out of business, why finish what they owe to CNH?
GLTA, goodh2o1
They "DO NOT HAVE A SIGNED CONTRACT", if they had a signed contract they would PR the contract.
That's why there is no news, they could get into alot more trouble and possibly lose the contract by saying it is a done deal.
They must be close on the CNH stuff, but it is not done! EOM! Case closed.
When it is done they will release it, they want it too, but there is no PR because there is no contract.
It has been 18 days since they told you it would be 4 weeks to start up, (see pr from 22 feb 12). Complain after the 4 week mark.
You people sound like the kid in the back seat saying (Are we there yet????) for the a million time.
GLTA, goodh2o1
Been watching this stock since the CEO purchase in Dec.
I think I have finally found out why these guys have been positioning themselves for these disabled vehicles market.
The VA upped the amount the VA will pay in the form of a grant to service men with service related disabilities by more than 50%, they went from 11,000 up to 18k plus last October 1st.
I think these guys knew about the increase cost in coverage and positioned themselves to be in the right place at the right time.
GLTA, goodh2o1
It sure seems like the 2nd shift is going or looking to get started if it hasn't been going.
The buffer position stated they are 2 shifts and OT to boot. The only thing is these postings are supposed to updated every day, the paint posting did not mention 2nd shift or OT as of yesterday when I posted the Buffer position.
So hopefully it is just an oversight on the employment service.
I had planned to go by the plant today, but other things came up and I could not get away.
GLTA, Goodh2o1
Still no mention of MWWC, but I highly suspect they are doing the hiring.
Special note, hiring for 1st AND 2nd shift with overtime. Same hiring company.
Job Title: Buffer (Job Order ID 1BSZW, local candidates only, please)
Job Location: Baroda, MI
Job Details:
Buffing/Prep. Must have buffing experience. Previous experience in auto detailing would be very relevant. Good vision is required. Must be able to stand in one spot for 8 hrs. 1st and 2nd shifts, some OT.
Salary: $9.00
The painting position is still posted.
GLTA, goodh2o1
"revenues were approximately $224,000"
Comparison of the three months revenues ended December 31, 2011 to the three months revenues ended at December 31, 2010.Net revenues were approximately $224,000 for the three months ended December 31, 2011, a decrease of $370,920 from the three months ended December 31, 2010. This decrease is attributable to the fact that we elected to re-focus on our core business, while eliminating less profitable and more resource intense projects. The Company has now been quoting on only large and more profitable paint projects and has already begun production for some of the new programs for 2012 and 2013. These programs are expected to provide continued and significant revenue growth during 2012 and the years ahead and improve the Company's bottom line.
Gross (Loss) Profit
For the three months ended December 31, 2011, MWW's gross loss was $91,684 compared to gross profit of $144,024 for the three months ended December 31, 2010. The reason for this decrease was that MWW sold a greater percentage of its lower margin products in 2011 than in 2010. The actions taken during 2011, especially the further streamlining of our production facilities and the aggressive cost reduction exercises in all departments of the company, have been implemented to reverse this trend and return the company to profitability.
"The Company has now been quoting on only large and more profitable paint projects and has already begun production for some of the new programs for 2012 and 2013."
This is the other side of the coin. It is great to have all those signed contracts, but when they do not fall to the bottom line your just left with the facts. The RFQs last fall were around 130 million.
We are suppose to be about 2 weeks from start up on CNH. Let's hope it happens.
GLTA, goodh2o1
I would love to be proven wrong, one million reasons to love to be proven wrong.
This thing moves to .07 I'm home free all my bills paid and coasting to retirement.
I hope the day comes I'm proven wrong, heck I got 2 free months I could use on IHUB, but I'm not going to use them.
I used my proceeds to take another position.
GLTA, Goodh2o1
I tried to sell a position of 314K, clerical mistaken on the 315.
I know have about 1,050,000 share.
I mistaken thought my order was complete and went on to make another purchase.
Your Day sell order for 315000 MWWC at a limit price of $0.0045 has expired. See order # 211 for details.
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I had a did not fill order of 49830 on my sell, limit of .0045.
$0.0045 50,000 OTO 15:23:43
$0.0045 206,536 OTO 15:18:34
$0.0047 8,625 OTO 15:18:11
Equals 314K. I had to step away from the computer while I was writing the original message.
Boy you guys have such attention to detail with everything but MWWC. But keep me on my toes.
I will spring for an IHUB membership just so I go back and post all your rah, rah, messages about and how I"m such a liar about what is really going on during the first six weeks of the year at the plant in B-O-R-A-D-A, MI. It is where the manufacturing plant is for M W W C is located.
For you guys who don't know where the plant is located.
GLTA, goodh2o1
They just need to post a profit. It works every time.
Just got in today at .0159 for 80K. Happy to have it.
GLTA, goodh2o1
Pay is 10 to 12 based on experience.
That was my 315k that just came through, still have a million.
Till they actually get PR for the CNH deal this is going nowhere and it may not till the 3rd quarter financials.
GLTA, goodh2o1
Oh, they Mwwc are not mentioned by Williams. Oh, that's right you don't know anything about the area, because you've never been there.
It is out in the middle of nowhere, it is actually closer to Bridgman, MI. The area is very rural, very few businesses.
I just thought I'd supply the information that there is a company doing automotive painting looking for employees in Borada, MI.
Not commenting on the good or the bad of it, just posting information.
Now I did call the Niles office and was told to call the St. Joseph branch by the Niles office when I asked about jobs and future jobs at Colortek. Long story short I did not get any info for my use good or bad. I did find out that I could have applied to Williams at the Niles office.
GLTA, goodh2o1
Borada, is the town and township Colortek is located in.
Refer to the conference call, Chuck reference a hiring service located in St. Joe.
Williams Employment, St Joesph MI.
Job Title: Painter (Job Order ID 1BT0W, local candidates only, please)
Job Location: Baroda, MI
Job Details: Painting. Automotive painting experience desired.
Salary: $10.00 - 12.00 / hr
FYI, GLTA, goodh2o1
There was production during Dec, Jan, Feb, I don't believe that production will much of an increase for the 2nd quarter Jan, Feb, Mar..
I have personally gone to the plant on at least 6 occasions, from the Monday after Thanksgiving up to about 3 weeks ago. I talked to a worker standing outside the office having a smoke, to a worker driving out of the parking lot, to a person waiting to pick up their son, to a casino worker who lives with 2 people who work there.
From the Monday after Thanksgiving through about the 10th of February the parking lot count was about 15 total cars most days, except for middle of January. I was told they had worked 7 days during one week, they had a 2nd shift for about 2 weeks, then the 2nd shift was eliminated from my observations at least through the 10th of February. These are exclusively my observations and my inquires of the people I talked to about colortek. So from my point of view we will see very little increase in production and revenues for the 2nd quarter.
I person asking me my prediction on PPS during December when I first joined the board. I told them we would have to wait till the end of the third quarter for any real revenue growth, I made that prediction in December. I think it to be the correct prediction again.
Management says they working 2 shifts, from the conference call up through last week. I only found proof of it during the middle of January. I hope it is true. There may have been 2nd shift the last 19 days of February, I didn't go by there during those days.
I'm comfortable with my 1.3 million shares, I'm averaged in at .006. It is about 40 bucks round trip for me to go by the plant.
I am going to wait until the industrial announcement of production to start before I make another trip. I will plan on staying for 2-3 days to get a car count for the 1st and 2nd shifts. I may just hire the counter person at the golf course across the road to get a car count once the weather gets warm.
GLTA, goodh2o1
I'm no sure, but a review of the paper work looks like all 31 million are restricted. I didn't post anything about the restricted portion.
213 million sounds like a great number.
Good work, I don't mind being in error. I found where I thought I had made a mistake and then came up with my figure based on Ron's purchase. I had previously stated I thought the number was closer to 237 million and was trying to clarify that I thought the 237 was too high.
Going from the know figure to a known figure makes it a lot easier, I had tried to find those numbers again, but I just used the ballpark figures.
When a person tries to using overlapping dates it is just a guess.
Great work invesdebater. I'm comfortable with the shares figure.
But whatever we had to borrow this quarter may have to be repeated next quarter. We have consolidated and cut costs, but until our revenues ramp up to cover our costs, we are going to be on this treadmill of dilution.
Hope the revenues ramp up soon, GLTA, goodh2o1
Outstanding shares.
Based on Ron's 15.8 percent of total stock. I would estimate the outstanding shares to be 197,500,000.
I reached this number by multiplying the outstanding shares by the 15.8 percent until I reached the 31 million and change.
So I revise my former estimate of 237 million to 197 million and change as of the Ron purchase.
Encouraging news, much better than I expected.
Where to draw the line.
I'm wrong about pretty much everything I write according to you Bogs.
So where do you draw the line? The Radio show talks about our CFO and how good he is, but he no longer works for MWWC. We should be around 200 million shares, but looks like were headed onward and upward from there. Pinkerton talks about 45 workers in the conference call, hasn't happened didn't happen during the months of Dec, Jan, Feb.. You get a e-mail or phone call from Rainier about there is 2 shifts, there was barely 2 shifts for about 1 week in Jan. that shift was for 4 people. We are suppose to have work for, the Camry, Sonic, F-150, mustang, and on and on and on, they must all be like 50K per quarter. How about that 150 million in RFQs, where is some of that money.
And you tell me its not important to be accurate???
Why does everything get so sugar coated
Everyone harps on doing their own due diligence.
So here is my prediction for our 2nd quarter financials. We will post less than $400,000.00 for the quarter and probably under $300K.
There was not 2 shifts working full time at the facility in Borada, MI. At the conference call, mention was made that logistics and work was consolidated at the Borada, MI.
There was only a slight increase in personnel at Borada, MI from Dec to Feb., as a result our revenues will not be up.
When we get our Industrial work, maybe things get better.
GLTA, goodh2o1
Radio Blog Disappointing.
I did not listen to the whole show. I heard the first mistake and let it go, then I heard them recounting how James Davis was our CFO and I stopped listening. If you can't get the basics right, move along.
The best advice I ever got was to "Read the Annual Report and quarterly reports." If you just read those items you will be ahead of 99% of the people. A quote from Forbes about a year ago.
I highly suspect MWWC called in a favor to get on the radio show. We probably didn't have to pay for, but news good or bad can work.
It just seems like the people didn't put much effort into actually finding out about MWWC, simple basics are important.
GLTA, goodh2o1
O/S At close of business Dec 31st the outstanding share were 148 to 153 million.
Using 150 million as a starting point add up the shares issued to pay debt from January 1st to March 1st and it is around 87 million.
In conclusion, I think the O/S is approximately 237 million shares.
Go from a known figure to a know figure it can't be that difficult.
Bogs, 150 million before Jan 1st, Around 85 million since the first of the year. Your closer to 250 million versus, the est of 200 million shares. It all had to be done, but it is a surprise.
So here is your proof, I'm sure you've already found it since you asked for it.
Current filing report
Between January 1, 2012 and February 29, 2012, Marketing Worldwide Corporation (the “Company”) issued shares of its common stock pursuant to the terms of the Company’s Series A Convertible Preferred Stock and the conversion features of the Company’s outstanding indebtedness. A summary of these issuances of shares is set forth below. The shares of common stock were issued without registration under the Securities Act of 1933 based upon legal opinions provided to the Company and its transfer agent that registration was not required.
1. 3,766,234 shares of its common stock for $14,500 of principal and interest due under a Convertible Promissory Note.
2. 4,499,998 shares of its common stock to pay dividends on the Series A Convertible Preferred Stock.
3. 3,000,000 shares of its common stock for $8,997.80 Convertible Promissory Note.
4. 5,238,095 shares of its common stock for $22,000 of principal and interest due under a Convertible Promissory Note.
5. 13,292,614 shares of its common stock for $58,760 of principal and interest due under a Convertible Promissory Note.
6. 3,800,000 shares of its common stock for $11,212.29 Convertible Promissory Note.
7. 6,700,000 shares of its common stock to Fairhills Capital Offshore for $20,000 Convertible Promissory Note.
8. 7,500,000 shares of its common stock for $19,743.75 of principal and interest due under a Convertible Promissory Note.
9. 14,720,812 shares of its common stock for $58,000 of principal and interest due under a Convertible Promissory Note.
10. 9,000,000 shares of its common stock for $38,700 of principal and interest due under a Convertible Promissory Note.
11. 7,926,941 shares of its common stock for $23,780.82 of principal and interest due under a Convertible Promissory Note.
12. 8,200,000 shares of its common stock for $19,987.50 of principal and interest due under a Convertible Promissory Note.
13G forbearance is only good till 12 Nov 2012.
FYI, GLTA GOODH2O1
So much for the 200 million shares. Were up to 250 million shares now with the new filings.
However, with the small 1st quarter that is not unexpected.
2nd shift answer
I appreciate you sense of investor due diligence, but you must agree that it may be somewhat flawed. Trust me, our CEO Chuck Pinkerton has a pretty good idea who cashes pay checks and how many people work in our company at any given time. He spends a lot of time in the facility in Baroda when not in our headquarter in Howell.
Every large company from Ford through Roush has certified our facility during intense due diligence visits by their management and technical teams to their full satisfaction and trust in our production quality and capacity.
The first 2 paragraphs here are his response to my questions about there being a 2nd shift. The ramblings at the end of other post was my being upset at his lack of response to the question at hand.
I basically asked how I could possibly miss every 2nd shift they are working over a month long period. I had concerns at the conference call, but waited another three weeks to confirm my information. I experience is that on each occasion I check after the conference call there was not a second shift working. You can check my post and figure out from the day of the post what days I was there.
I'm not liquidating my position, because I do see a potential for an upside. If I could get out at .008 with no PR and such I would probably take it and run. I'm averaged in at .006.
I have other issues, but I can't prove those issues and therefore I do not bring up things I can not prove.
GLTA, GOODH2O1 The real kicker is my grandfathers name was Pinkerton. LOL
2nd shift, my current request for information from IR is now 48 hours old. Per Bogs request to contact Rainier directly I have no
reply to report.
I asked for a simple I'm checking on it, but nothing has happened.
Amazing, I have a response, I will follow up.
I posted got a response and am following up.
His response.
I appreciate you sense of investor due diligence, but you must agree that it may be somewhat flawed. Trust me, our CEO Chuck Pinkerton has a pretty good idea who cashes pay checks and how many people work in our company at any given time. He spends a lot of time in the facility in Baroda when not in our headquarter in Howell.
Every large company from Ford through Roush has certified our facility during intense due diligence visits by their management and technical teams to their full satisfaction and trust in our production quality and capacity.
It seems my e-mail sent his response to trash, because he was on his Ipad.
I sincerely appreciate his response. Well just like my playing of Craps and Blackjack, I seem to have bad timing, the big roll just finished and so and so.
A check of my post will reveal what days I've visited the plant. I have only found a period of one week when I could document a 2nd shift and overtime. I just seem to always miss this 2nd shift working.
I'm going get mad and spend a whole week up there hitting golf balls at the driving range located across the street. We have something I'm just not sure what it is
2nd shift, my current request for information from IR is now 48 hours old. Per Bogs request to contact Rainier directly I have no
reply to report.
I asked for a simple I'm checking on it, but nothing has happened.
Amazing, I have a response, I will follow up.
Yes, "based on my conversation with a person waiting to pick up one of the workers".
When I'm sitting there at shift change and "NOBODY" else is driving into the parking lot at 10 minutes before the shift is over I am going to think the person is telling the truth about there is not a 2nd shift!
I can confirm "from that same unreliable source" your contention that they can run out of parts, because they mentioned that the person they were picking up didn't get to work 2 days from the week before because they ran out of parts.
I've given them the benefit of the doubt, I just don't believe I can go up there on random days and can never find a 2nd shift working.
GLTA, GOODH2O1
Bogs I took you advice and wrote to Rainier. Upon reply I will post the info I receive. I brought up each and every issue and I have brought up here and then some.
GLTA, GOODH2O1
From my discussion with one of the workers the only skilled position is the painting position.
At one point I was trying to ask questions like I was looking for a job. He thought if you had painting experience they would hire you right away.
I'm thinking we are getting the rosy side of the picture, but hey doesn't everybody try to put their best foot forward.
Its about 40 dollars round trip for me to go by the plant, so I can't go by everyday.
GLTA, GOODH2O1