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Yeah, this is a major setback, we better take her to trip 0's.
Forget your DD, this board is in the know!
Of course with the whipsaw volume here it is important to remain glued to the site here and comment on every tic. We need new information every 1/2 hour on the hour or something isn't right. If I don't get this info as I watch us trade for a daily volume of less than 10,000,000 a day, I have to come up with side stories about the townspeople and their reactions to our new beer, potential dirty laundry scandals of second cousins and other relatives of the board, and general weather conditions and their relation to sales of our multi-million dollar enterprise.
But wait till we hit 30 gazillion (a ba-zillion more than your bizilion)shares diluted. I think I read that a thousand times over the last month.
First no PR's and "ohhhh, Tom is hiding", now too many PR's and "ohhh, what fluff"...I think most here could just condense their umpteen trillion opinionated posts and just say, "I don't like this stock, and never have."
Just biding time waiting for quarterly...
We have any oil wells?
Morning Cabroncita, nice to see more greens than reds as of late.
Good morning all..back in the saddle. Looking forward to the quarterly.
I'm a little north of u slice though can't beat the weather. maybe this stock can rise like the temp here!
greetings all...sunny down here in the sunshine state. Hmmm...still beating up on this one I see. Oh well, guess I haven't missed anything. Be looking for the Q shortly.
Morning T, quarterly should be out pretty soon. Expecting to see the start of the turnaround to profitable ops.
None of us know why he used this shell. So we can speculate all we want. Remember who is doing the majority of the early financing here (YA). Perhaps they were not willing to offer additional financing if this other debt was not recovered? No one knows.
Now, what I do know is what was said yesterday, and that is that the management is committed to increasing shareholder value. If you don't believe these words, you should not be in this stock. Anyone contemplating class actions, etc. should be out of the stock pronto.
What this means:
a)We will start seeing debt financing for acquisitions instead of equity financing
b)As we gain profitability in the operations, excess capital will be used to pay off existing CD and buybacks.
c)Management is committed to this plan. Nothing about a R/S here or cashing in the 80% Series E's.
Unfortunately for some, the bogeymen don't exist like they so want them to. Simply put, this is a startup, acquisition minded entity that needed sources of capital to fund it. It used CD's to do so as this is the easiest form of capital to obtain. It is also the most expensive. As profits come in, lower costs of capital are accessible (see Wells Fargo).
The plan is moving along just fine, and yes, there are still other CD's out there, but all related to the value of the investments we brought in. So please don't start with the "I told ya so" if the shares o/s rise. Those who scream about dilution don't recognize the other side of equation --> value brought in
My thoughts for the day. No need to debate it, because no conjecture here. All based upon what has been presented in the releases and filings.
Morning all..this says it all with regards to "dilution". I bolded the telling parts for those that are having a tough time getting it...
Shareholder Value
Management is concerned with and focused on increasing shareholder value. The first and requisite step to achieve increased shareholder value at Seaway Valley is to first acquire or internally develop assets that have or that can create value faster than and beyond the costs associated with their acquisition, development, and growth. Management believes Seaway Valley’s first two platform acquisitions have provided just that. As the holdings generate a history of performance, Seaway Valley can utilize lower cost sources of capital versus those used by Seaway Valley (and its predecessors) to date. The successful closing of the Wells Fargo line of credit is one example of that. And as these core holdings mature and the capital generated is in excess of what is needed to sustain growth, that excess capital can be used for such activities as convertible debenture repayments, preferred stock repayments, and/or common stock re-purchases. Once the underlying business conditions permit that, management is committed to such a plan.
It's quiet here today? How are we making out with the class action suit? It's going to be a bit harder case now with the CEO publicly stating management is driven to reducing the o/s when we are profitable.
Doesn't really sound like the voice of someone who is looking to do a R/S and then unleash his 80% holdings. I mean that would be an out and out bold face lie if he did that now...hmmmmm
Ya mean all he had to do was ask nicely?? shoot..
I think the bolded parts explain it all...
According to the U.S. federal law known as the Anti-Cybersquatting Consumer Protection Act, cybersquatting is registering, trafficking in, or using a domain name with bad-faith intent to profit from the goodwill of a trademark belonging to someone else. Commercial domain names (technically, you reserve a second-level domain name) are obtained from one of several registries, companies authorized to ensure that a domain name you want is unique (no one else already has it) and issue it to you if it is. However, these registries make no attempt to determine whether the domain name is one that rightfully ought to go to someone else. The principle is "First come, first served." For this reason, a number of enterprising individuals and companies have applied for and reserved domain names, either new or expired, that they think someone else will want, either now or in the future. Well-known companies or their products, sports figures and other celebrities, political candidates, and others often discover that someone else has already reserved the domain name (for example, "sammysosa.com") they would most likely want to use.Although trademark laws may offer some protection, it is often cheaper to buy the domain name from the cybersquatter than it is to sue for its use.
Many cybersquatters reserve common English words, reasoning that sooner or later someone will want to use one for their Web site. Examples of words sold by cybersquatters to companies developing significant Web sites include drugstore.com, furniture.com, gardening.com, and Internet.com. Cybersquatters may also regularly comb lists of recently expired domain names, hoping to sell back the name to a registrant who inadvertently let their domain name expire. eBay, the auction site, sometimes lists domain names for sale. Several cybersquatter companies offer their wares at their own Web sites.
Too funny! uhm...hmm well my take is it would be a MATERIAL EVENT since most think any monies received into this "shell" would be MATERIAL. Probably listed down in non-operating, along with all the other murky transactions that most counted as the BIG loss for the last year.
Well, there is something called "subrogation"...which will happen when they catch the party responsible...
Show me damages of $1,000,000...always sounds good until you look at the actual damage (uhm, if any). Now, Websquatting..that's a $100,000 claim per site according to Microsoft - and not much personal insurance covers that.
Skyrocket? hardly...not like they are piercing the umbrella here. Let me know when we start talking about fatalities, then I'll listen. I handle all of our insurance renewals (10 policies in all) and brokers/underwriters won't blink at this - especially since out of pocket loss is small potatoes. Heck, might not even hit above their deductible. I think this is a pretty weak point all around.
As the barber says....NEXT!
Tex, Tom can make up the money from the theft incident by going after web squatters!! Statute of Limitations hasn't expired yet and if Microsoft can do it...
Published: September 15, 2007 6:00 a.m.
Microsoft sues Web squatters
A Fort Wayne man is at the center of a trademark infringement lawsuit filed by techno-giant Microsoft, but it’s not the first time he has found himself in this position.
Microsoft sued Anthony Peppler this week, one of three lawsuits filed by the Washington-based company. Filed in the U.S. District Court for the Northern District of Indiana, the lawsuit against Peppler also names his companies, 260.com, RealTimeInternet.com, based in Delaware, and Modern Limited, with offices in the Cayman Islands.
The lawsuit is similar to suits filed this week against different individuals in federal courts in Washington and New York.
All the suits allege trademark infringement by creating and registering Internet domain names “confusingly similar” to marks belonging to Microsoft. Such actions are in violation of the Anticybersquatting and Consumer Protection Act, according to the court documents.
For example, if a Web surfer was looking for Microsoft’s Internet portal for news, www.msn.com, but they mistakenly typed in msnnew.com, they would find a site that provided some news links but also links to other fake sites.
The Web site is one of the 95 listed in the lawsuit against Peppler.
Within the past few years, Peppler has been sued in similar cases by companies ranging from America Online Inc.; Linens ‘n Things; Syracuse University; Stargate Communications (Chuck E. Cheese); and, most recently by Express Franchise Services, according to federal court records.
Attempts to locate Peppler were unsuccessful. A search of court documents and recent public records indicate he lived in Fort Wayne within the last couple of years. His current whereabouts are not known.
This particular type of trademark infringement is known as “typo squatting,” and involves registering Internet domain names similar to licensed trade names, said Fred Cate, a professor at the Indiana University School of Law.
“One way to figure it out is to see how people most commonly misspell domain names in the Web browser and register them,” he said.
Long before the Internet, the practice was common with telephone numbers, Cate said.
People usually typo-squat or cyber-squat – using companies’ actual names in a Web site. But in this case, Cate suspects it is a form of extortion, an attempt to make money deviously by creating a similar site, creating confusion and then demanding money from the legitimate company to go away, he said.
“It’s irritating for customers who are trying to get to a site and go to a wrong site,” he said.
Peppler is listed on the Web site Hourlylaff as a member of the top 100 people who made $1 million selling domain names.
Besides seeking money from the real company, it is possible to make money by selling ads on the copycat Web pages. Customers, who may think they are on a different site, click on the ads, making money for whoever owns the similar Web page.
“If I can get you to my site mistakenly and you click on a banner ad, I’m going to make money,” Cate said. “It’s like collecting a toll on the way to the site that you want.”
Such activity can be maddening for companies and is bad for consumers, Cate said.
“If I’m looking for something and you manage to divert me, you may confuse my initial interest,” he said. “That’s fine, if it’s an open and fair competition. But if you’re exploiting the fact that I can’t type accurately, that just seems a little devious. There’s a certain element of unfairness, an element of deception.”
In its lawsuit, Microsoft is seeking $100,000 in damages per domain name. With all the domain names Microsoft links to Peppler, he could be on the hook for $9.5 million and that does not include the punitive damages and the surrender of all “ill-gotten gains” requested in the lawsuit.
Should Microsoft win, and Peppler refuse to pay, the company could seize any assets he may have, Cate said.
“Generally we think it’s a bad thing to confuse consumers,” Cate said. “Do you really want a marketplace where every time you go online you have to be vigilant that you’re actually at the site where you think you are?”
Microsoft’s attorney was not available for comment, though the company provided summaries of all three lawsuits filed in the three different federal courts.
And here's a little something extra before I go back to the grind...YA knows the hard assets attached here and the potential for this baby. IMO, there will no smothering of the baby in the crib - if you get what I mean...
watch and learn...
Always easy to pick on the start up company with no sources of funding - especially with an acquisition oriented mentality. Dilution, dilution, dilution...waaaa...
Sit back and watch as this baby grows into a adolescent...won't be so easy to push around lol
And here's the plan..straight from the CEO - speaks volumes and answers about 1,000 posts about dilution:
And as these core holdings mature and the capital generated is in excess of what is needed to sustain growth, that excess capital can be used for such activities as convertible debenture repayments, preferred stock repayments, and/or common stock re-purchases. Once the underlying business conditions permit that,management is committed to such a plan.
Morning all! Good to hear it again from the horses mouth..
As the holdings generate a history of performance, Seaway Valley can utilize lower cost sources of capital versus those used by Seaway Valley (and its predecessors) to date. The successful closing of the Wells Fargo line of credit is one example of that. And as these core holdings mature and the capital generated is in excess of what is needed to sustain growth, that excess capital can be used for such activities as convertible debenture repayments, preferred stock repayments, and/or common stock re-purchases. Once the underlying business conditions permit that,management is committed to such a plan.
JUST LIKE I SAID...
Posted by: az_maverick In reply to: None Date:1/30/2008 12:04:32 AMPost # of 166601
I post this to show you there is a definite limit to the amount of shares this will grow to. Tom has started up the relationship with Wells Fargo showing the first signs of a shift from Equity financing to Debt financing.
what is the current o/s?
you obviously didn't read some of my posts when the legacy issue first came out. I said total o/s would be around 1.1 to 1.2billion.
Exactly..just some weak knees trading out over the past couple days as evidenced by the accum line.
Posted by: dav1234
In reply to: puppydotcom who wrote msg# 164720
Date:4/25/2008 2:12:08 PM
Post #of 164751
what "past exposed" might you be referring to?
So much for the .003's today. Some will be disappointed.
New,
The statement made said the savings could be realized on the "overall cost of goods sold". COGS includes more than just food costs. It should include anything that is a direct cost born out of the sale of the product. My take is that they will be able to gather discounts such that the overall COGS is trimmed by 3 to 4%.
Most restaurant chain/food service have the following type of P&L categories:
Revenues:
Net sales
Franchise fees
Total revenues
Costs and Expenses:
Cost of sales
Restaurant operating costs
General and administrative
Depreciation and amortization
Marketing
Interest
Rent
Pre-opening costs
Asset impairments and provision for restaurant closings
Other income, net
Loss) Earnings Before Income Taxes
Income Taxes
Net (Loss) Earnings
Morning all...good to hear about more operational synergies yesterday - potential 3-4% savings to the overall gross margins..equates to $200,000 on $5MM sales. Keep building profitability.
Seaway Valley Capital Corporation (OTCBB: SWVC - News) (“Seaway Valley”) announced today that its wholly owned subsidiary, North Country Hospitality, Inc. (“North Country”)...so it is 100% owned.
And..
"We believe there could be as much as 3-4% of overall savings in North Country’s cost of goods for its restaurant holdings"..what were the annual sales?? $5,000,000...that means up to $200,000 to the bottom line.
Well, there's your support :)
So did Arca move out of the way on the Bid? I don't have L2 at work...obviously you do.
haha good strategy.
Why didn't you cash out a while ago? With such a large holding and so anti-management, I would think any sane person would bail. Plenty of opportunity to do so.
Do you know what word the following defines? "Continuing to do the same thing and expecting different results.”
Well, I'm hoping that pays off tenfold for you! You deserve it my friend. And thank you for defending us!!!
Back in November, I came up with 1.1 to 1.15 billion when I did that projection of legacy debt converts. Some had other numbers factoring in what was thought to have already converted subsequent to the filings, etc.
Mind you, there have been some other cd's added and transferred since, but this was only dealing with the three I mentioned in the last post (legacy included).