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I would consider it news since we didn't know for sure which company(s) would be targeted (although you made a killer guess). If they told us weeks ago that it would be eautodrop then I would call it a rehash, like the 10,000 PRs about the split LOL.
It is also hard to assess the value of the acquisition: what is eautodrop worth, what will it add, etc., and what does ECFL intend on doing to pay for it? It hasn't done much for the sp this morning though.
hellz, Nice call! I wasnot surprised when I read the PR today b/c I thought I remembered seeing eautodrop somewhere before. Didn't remember it was your post though ... nice work. thanks!
I should be hard to guage, it's a pink. It should keep moving up, at least for a while, it's a pink with a low float, an exciting story with potential for big profits and low overhead in a huge huge market that itself is shifting into bull mode.
Good timing for a good story and ground level opportunity for those who want in. The company hasn't really had time to really show itself as good or bad. Right now it is still about the story, the potential, the hype. When that runs out, then we can worry about real things like deliverables and revenues and so on.
Anticipation, excitement and momentum are what these guys have right now. Along with some decent news like LOIs, agreements with 'big' companies like CarfaX and the promise of large vehicle inventories from other companies like eLiftruck. I think there are a lot of upsides to this story, plus the stock moves real nice and seems to have a bunch of smart and patient investors who don't kill it by selling out every time it moves up a little. And being new, new investors to the company have a greater impact on price as well.
Then there are the charts from other stocks in the same price range (discussed a couple weeks ago on this board) that have shot up to $15 or so from here. That is quite attractive too!
GLTA
News of LOI for Acquisition is on Yahoo!, also my streamer and elsewhere....
Carfly Submits Formal Letter Of Intent to Acquire eAutoDrop, Inc.
Aug 22, 2006 8:08:00 AM
Copyright Business Wire 2006
DALLAS--(BUSINESS WIRE)--Aug. 22, 2006--
eCarfly, Inc. (Pink Sheets: ECFL) announced early today the company has submitted a formal letter of intent to acquire eAutoDrop (www.eautodrop.com), an eBay motors listing company based in Orlando, Florida. CompleteAuto, parent company to eAutoDrop, has developed cutting edge software for creating state of the art advertisements on eBay Motors (Nasdaq: EBAY). "The acquisition of eAutoDrop would catapult eCarfly to the forefront of this cutting-edge industry and solidify a working relationship with eBay themselves," stated Desmond Milligan, eCarfly, Inc. CEO.
About eAutoDrop:
Founded in 2004, CompleteAuto is headquartered in Orlando, FL and is proud to have been selected by eBay, Inc. as a joint marketer. Currently there are agreements in place between eBay, Inc. and CompleteAuto. CompleteAuto offers eAutoDrop Center licensing agreements only to licensed dealerships to assist private consumers with the sale of their vehicles on eBay motors.
About eCarfly, Inc.:
eCarFly provides individuals and automotive dealers a hassle-free and cost-effective alternative to sell their vehicles while reducing to zero, traditional costs associated with the vehicle sales process! With the knowledge, experience, and understanding of the automotive industry, eCarfly knows exactly what works and what doesn't. eCarfly is currently focusing on online vehicle auctions, personal watercraft auctions, and partnerships with companies such as AutoNation (NYSE: AN) and private individuals interested in selling their personal vehicles.
Disclaimer
Matters discussed in this press release are "forward-looking statements." Statements describing company objectives are forward looking. Company's plans are also forward-looking statements and are subject to certain risks and uncertainties, including the financial performance of the company and market evaluations of its stock, which could cause actual results to differ materially from those anticipated.
Source: eCarfly, Inc.
----------------------------------------------
eCarfly
Inc.
Desmond Milligan
214-292-6622
1-877-ECAR-FLY
info@ecarfly.com
red#11:
I wish the same thing about all my stocks too!
...as far as substantial news, I would appreciate some too, but at this rate... who needs it? LOL! When it comes this will REALLY take off.
$3 would be sweet... With some real news I can see this blowing through $3 with NO problem at all.
Some serious buying today and if pinksheets.com is accurate with its share counts, we moved through more than 16% of the Outstanding today. Gotta love those tiny little OS companies.
Good news could come at any moment... and by the # of shares sold today, it seems there may be some on its way soon. Nice!
Very nice movement in this stock since day 1. Some strength here, it rarely looks back. Great volume today too. GLTA!
Their eBay ID crisis could just be due to setting up some kind of eBay Motors Certified Dealer thing. And don't they have their own eCarFly financing available for their buyers? Sounds like at least two departments of eBay they have to deal with right there. Then probably their bank has to deal with eBay too.
There was very little selling at $2.00 today, so it ran up another quarter. How awesome is that? The float must be low allright.
So I figure an ID conflict could be acceptable for right now. But I'd like to see something more than an online Want Ads. Esp. with proven selling tools (eBay) so 'at hand'. I want to be able to buy online. I need to see the listings return. Do that, throw in a little good measure acquisition PR, some other big inventory deals, the day the 6,000 forklifts get listed, etc. ... this one has the potential to be a good runner imo.
GLTA
Wish I would have gotten more any time in the last few weeks LOL.
GLTA
The news from 10:03? I don't see anything else... there goes the $2.00 mark!!
$2.00 on the BID ... 2 @ 2.00 x 2 @ $2.03
WOW over $2.00 for over 15,000 shares in the last couple minutes. Sweet.
Nice. They have ads on Raging Bull too but I heard of them when something I was watching was listed in one of their PRs, I think it was SIRI. Another serious pump would be great before the split. I was hoping to get one of those 16 page color jobs in the mail with ECFL on it, but I bet they save until very post split.
ECFL is on the home page of dailystockpix.com
Nice of them to devote their Home page to pumping ECFL but the latest news is only from Aug 4th. What is that about?
I don't know their intent either, but I do know that eBay has a HUGE audience so plenty of traffic would be directed to anything listed. And who knows what kind of reduced-listing-fee deals a company promising to list literally thousands of cars could make.
...Gonna go check out Niz's club, thanks, the ECFL board at RB is kinda lame (sorry posters, just not much meat there)
Dang, that RB board is hard to find... it is under board=OTCF:ECFL instead of just ECFL... LOL - wish I knew that a couple weeks ago .
183 cars listed in inventory at carads.com...
http://www.carad.com/showroom/showroom.cfm?mode=1&sort=manufacturer&hide=false&start=6&a...
the 1st 5 are blank but the rest seem OK but I can't find any of them on ebay... maybe they are waiting for their software update before they get to ebay? I hate guessing like this on a Friday.
Their fee for these is $395 fee (not $495 like they told us) and it seems there is no way to bid, you have to call or email them. So... ?
There is also ecarfly01 - the ID that the 1st 10 listings at completeauto were being sold under. Hard to imagine them as an imposter, they had the saame listings as completeauto. But they are "No longer a registered user"
I found all this from the About page for ecarfly (0)
Meantime, someone seems to be buying just enough to keep the price from falling off, at least for now.
GLTA
They just PRd that they "re-established on-line auctions with over 100 vehicles listed."
Where are they?
I still only see 76 at CompleteAuto and their last ebay ID (ecarfly01) shows No Items Listed.
eliftruck? No luck finding any of their 6,000 listings yet. Or even a mention of Ecarfly on their website...
Patience? Sure, maybe, but if I was going to PR something like that, I would make sure it could be verified by my potential investors before it went out. But then again, the news on my website wouldn't be over a week old if I was issuing PRs almost every day.
Whatever their gross is, don't they only get $495/sale? Unless they finance etc., but at least for now none of the finiancing options on their listings were via Ecarfly, so the gross runs through them but very little winds up in their hands.
Interstingly, there is no way to bid on any of the 76 vehicles listed at CompleteAuto.com and none of the auctions are up at eBay... How do they figure on selling anything? Or is this all part of the plan??
Quick Links from the CompleteAuto listings resolve as follows:
"View Our Other Auctions" goes to ebay and says "This seller is not currently offering any items for sale."
"Contact Seller" goes to a form page on completeauto's site which requires your eBay User ID
"email to a friend" link goes to EBAY, then says "Invalid item--
The item you requested (300018805835 ) is invalid, still pending, or no longer in our database. Please check the number and try again. If this message persists, the item has either not started and is not yet available for viewing, or has expired and is no longer available."
then the "About Us" link says "Ebay Motors Garage of ... data not found... Complete Auto (logo)
Now they have 10 cars listed for CompleteAuto. Both on their site and on eBay. Hey, it's almost twice as many as yesterday.
Man $2 is a tough nut to crack though. Almost all buys this morning and it looks like they're about to take it down a notch.
And the most recent news on their site is STILL 8/04. No TA fax# yet either :(
Listing Requirements and Fees
from pinksheets website, there is more, take a look
http://www.pinksheets.com/otcguide/issuers_getquoted.jsp
There are no listing requirements to be quoted on the Pink Sheets. Current financial information must be submitted with the Form 211. Current NASD rules do not require the financial statements of Pink Sheet issuers to be audited, but they should be prepared in accordance with GAAP or, for foreign issuers, in accordance with their home country's accounting standards.
While Pink Sheets does not have a requirement that the issuer continue to provide updated financial information to the Pink Sheets; federal securities law requires that adequate current information must be publicly available when an issuer's securities are traded in the OTC market under the following circumstances:
At the time of initial quotation in public markets;
At any time corporate insiders or other affiliates of the issuer are offering, buying or selling the issuer's securities in the OTC market;
During any period that the issuer or affiliates of the issuer are directly or indirectly engaged in promotional activities having the effect of encouraging trading of the issuer's securities in the OTC market; or
At the time securities initially sold in a private placement become freely tradeable in the OTC market. If any of the four above situations are occurring, issuers subject to Section 13 or 15(d) of the Securities Exchange Act of 1934 must be current in their reporting obligations to the SEC and we provide the Pink Sheets News Service for non-SEC reporting issuers to make their information publicly available. For more information on these services, please see Pink Sheets News Service.
Issuers pay no fees to be quoted on the Pink Sheets. Market makers pay a monthly fee to quote a security.
hellz,
They say they are "having new state-of-the-art software implemented. " which implies something they would own. It seems they might as well just clone the CompleteAuto listing software since, apart from how it integrates with their own backend, all it really has to do is meet the standard interface requirements of ebay motors listing software.
I agree overhead should be relatively small and it seems it can be made back quickly. There is no cost for inventory, which is phenomenal, and listings can be done for nothing (but time). How do they get listings from companies like eliftruck? That's gotta cost something. Then they have to pay CarFax (money well spent imo) for their svcs, pay for the listing software and pay the listers as well as photographers in cases where they do not have them supplied by something like carfax or another service that checks out the cars for them. Then there's a few offices, training the salesforce and the usual boring costs of a startup.
Maybe we can fax the TA for OS AS etc. but we might not get any info until they have been with them a little longer
Fifth Third Bank (The), Cincinnati, OH 45202
...looking for a number now...
1. If they were using completeAuto's software then we woudn't have been told there would be about 2 more weeks before their listing software is fully developed. IMO they are listing manually or through their own system as it develops ... for the moment. Although I might agree that any listings they are doing for CompleteAuto could be done with Complete's software.
2. Makes sense, one of the few names I don;t remember them mentioning.
3. We know they are hiring a sales force to handle Asbury Automotive's business, the listing indicates that eAutoDrop and Complete Auto are looking for what may be the same thing. While it can be good to acquire a growing company, it seems like it would be better to acquire an established one, esp. if the intention is to help develop the acquiring company's base of sales & services. If it is eAutoDrop, I hope they are in good shape, will be accretive and will not require a whole bunch of new hires etc etc. (but I suppose they could be commission-based employees)
5M ... 7M ... 18M we really don't know the OS. They aren't reporting so we don't know what kind of cash or financing they have avaliable. There are so many ways to pay for an acquisition. Seems like some days should have seen greater appreciation in pps, hopefully there were no shares added on those days.
GLTA
We need new investors ...and where's the news? Notice the email address on the listings at the ecarfly website are an ecarfly account at completeauto.com.
Only 6 ebay listings and they are the same listings as on the website :(
And why is the latest news on their website only dated Aug 4?
I see news on Yahoo from 8/8 saying they are opening 6 new offices.
I see news on Yahoo from 8/11 saying they have an agreement with eliftruck to list 6,000 pcs of that inventory
I see there are more deals coming and also they are hiring and training a sales force to handle requests for the Asubury Automotive Group
Meantime they are talking about partnerships with Auto Nation and Carmax. Are they going invisibly behind the scenes and working with these players or are they going to be upfront hi profile with ecarfly branding on the listings and on the other websites?
Will this turn around once into the 1.70 area? Catching the shorts at these levels would make for one heckuva run!