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New distributor for flexpower?
Rehabilitation market
Patterson Medical is the world’s leading distributor of rehabilitation, sports medicine and assistive patient products to the physical and occupational therapy markets. The global customer base includes hospitals, long-term care facilities, clinics and dealers.
Additionally, Patterson Medical’s widely recognized Medco sports medicine division provides more than 12,000 products to athletic trainers in professional sports, high school and college teams and recreational sports organizations. This vast array of products and services, combined with a focus on innovation and quality, uniquely distinguishes Patterson Medical as the true one-stop shop – with a global market share three to four times larger than the nearest competitor.
Patterson Medical has opened 12 branch offices in the U.S. through acquisitions and internal start-ups and remains well-positioned to expand core markets.
http://www.pattersonmedical.com/app.aspx?cmd=getProduct&key=IF_148606
http://www.google.com/finance?cid=655913
https://www.medco-athletics.com/Supply/Product.asp?Leaf_Id=558095
http://en.m.wikipedia.org/wiki/Patterson_Companies
Notice its Sammons flexpower
http://www.amazon.com/gp/aw/d/B007G4TBYE/ref=redir_mdp_mobile/178-5069866-4181541
Flexpower - manufacturer lists sammons Preston
http://www.4mdmedical.com/flex-power.html
Easy to say. Even if they do an FS most all shareholders outside of the company lose. Bring a valid point as to why not and understand what it is first.... It will happen... Doesn't mean we all end up ahead just the way of business with a smart business. Watch the PPS rise then FS.
They'll own nearly everything before FS. Don't know why people don't think it will happen. It's to their advantage.
And your suggestion for this trading is?
And most of those street shares are caught up at a 80-90% plus loss....so no sale there either. How else does it become tradable other than an FS?
It seems they have a good portion of the float too so an FS only makes sense even if its followed by dilution.
How else would have they won other than flexpower! Maybe Manu will use a piece of his bonus to buy the float:)
FlexPower in GQ memebox. Hopefully advertising gets ramped quick. National ads or chains.
http://mblogthumb2.phinf.naver.net/20140126_209/fxpkorea_1390730827850eXhTU_JPEG/DSC04692_copy.jpg?type=w420
http://mblogthumb3.phinf.naver.net/20140126_114/fxpkorea_1390730829822Obgue_JPEG/DSC04704_copy.jpg?type=w420
http://mblogthumb3.phinf.naver.net/20140126_258/fxpkorea_13907308294133k3AY_JPEG/DSC04703_copy.jpg?type=w420
It's on the OTC
Not good news but not all she wrote. If any substantial PR drops with major retailer or buyout ( which is an avenue taken through RM) the size of the float is so small PPS will spike. We saw the swings of an 8,000 share trade day and what it can do, imagine a 30k+ trade day on positive news.
FS a small possibility too.
The PPS is too manageable with the microscopic float to expect continued sell off. Especially with many positions voided out post RS.
They're only paid on a residual basis from international sales. They sold to LG, hence the better website and displays.
Highly doubt the idiot part based on connections, past job history, and endorsers but I don't doubt them being savvy or greedy about their company they've been holding onto and building for 15 years.
Buyout or chain announcements is the hope here IMO.
They are. The attorneys review of the fins were posted on OTC today
Nowy and nitwit back! Things are looking up!
A 911 trade at $2. Don't think someone's spending $1822 to be funny.
Wtf is going on?
$1200 puts it back at $4.90
Chains or buy out best hope
Not many shares out there to go around
It's getting walked back up
GAAP EFFECTS
The Acquirer accounts for its acquisition of the Target's business under generally accepted accounting principles (GAAP) in one of two ways, either as a pooling of interests or as a purchase.35 The Acquirer uses the pooling of interests method to describe a transaction in which the Acquirer and Target combine their ownership interests through a transfer of at least 90% of the Target's voting common stock or of all of the Target's net assets to the Acquirer in exchange for the Acquirer's voting common stock.36 Under this method, the assets and liabilities of the Acquirer and the Target are simply combined at the amounts recorded on their respective books, thus resulting in the Acquirer's obtaining a Carryover Basis in the Target
31 N. W. Pugh Co., Inc. v. Helvering,
70 F.2d 776 (D.C. Cir. 1934), cert. denied, 293 U.S. 575. The Acquirer's basis in the Target's stock is the basis of that stock in the hands of the Target's stockholders. I.R.C. § 362(b).
32 See note 25, supra. See also Aetna Casualty and Surety Company v. United States, 403 F. Supp. 498, 508 (U.S.D.C. Conn. 1975)(dicta).
33 The receipt by the Target's stockholders of post-merger stock is treated like a nontaxable reverse merger. See note 32, supra.
34 When the Target's stockholders receive the Acquirer's voting stock in a reverse triangular merger, the acquisition is nontaxable. I.R.C. § 368(a)(2)(E); I.R.C. § 354(a)(1). The Target's assets retain their Carryover Basis as described in note 31, supra, in this deemed stock purchase by the Acquirer of the Target's shares. See Rev. Rul. 67-448, 1967-2 C.B.
The Acquirer and the Target also combine incomes for the entire fiscal period in which the transaction occurs, and the reported income of both for prior periods is combined and restated as income of the combined corporation.38 The Acquirer's net income in both the current fiscal year and in prior years is affected by a transaction accounted for as a pooling of interests, with the precise impact depending upon whether the Target has realized income or loss during the affected periods. Obviously, the Acquirer's earnings per share (EPS) are also affected, but the effect of the transaction on EPS is not only a function of the Target's net income or loss but also of the number of shares of the Acquirer's stock which were issued to consummate the transaction.39 There are specific conditions relating to the combining companies, the combining of ownership interests and the absence of planned transactions which must all be met before the transaction is accounted for as a pooling of interests.
May 13th was the "plan" of exchange.
Date of stock exchange was 5/28 per filings and shows on NVSOS as 5/29
This is also written below that on page 8
Use of estimates
In preparing these condensed consolidated financial statements, management makes estimates and assumptions that affect the reported amount of assets and liabilities in the balance sheets and revenues and expenses during the periods reported. Actual results may differ from these estimates.
Basis of consolidation
The condensed consolidated financial statements include the accounts of the Company and its subsidiary, Flex-Power, Inc. All significant inter-company balances and transactions within the Company have been eliminated upon consolidation.
Did the company buy a good portion of the float as well?
Float is up on OTC at 174,995 . Here soon you can buy it all for about $50-60k.
Page 6 item VI:
Public float: 174,995
Only 174,000 in public float per filings
You'll find out here very shortly
Exchange set for Flexpower,Inc to Flex-power, Inc (CA) in NVSOS
17 pages filed.
http://nvsos.gov/sosentitysearch/corpActions.aspx?lx8nvq=KwdNSKq0QriVtOAyXETZQA%253d%253d&CorpName=FLEXPOWER%2c+INC.
Anyone got another fake pr?
Well a public float of only 174,995 per filings and most stuck holding bags already at $2... there can't be too much more selling.
11 stands out. With example below. Fins are consolidated.
FLEXPOWER, INC. AND SUBSIDIARY (FKA MONARC CORPORATION) CONSOLIDATED BALANCE SHEETS
AS OF MARCH 31, 2014 AND DECEMBER 31, 2013 (UNAUDITED)
The procedures
10. The practical effects of merger accounting are that:
(a) the net assets of the combining entities or businesses are consolidated using the existing book values from the controlling parties’ perspective (see paragraph 9). The assets and liabilities of the acquired entity or business should be recorded at the book values as stated in the financial statements of the controlling party (i.e. it will require recording of the fair value of the identifiable assets and liabilities of the acquired entity or business at the date of original acquisition from third parties by the controlling party, any remaining goodwill arising on the previous acquisition and minority interests recorded in the consolidated financial statements of the controlling party). When the controlling party does not prepare financial statements, the carrying amounts of the acquired entity are included as if such consolidated financial statements had been prepared;
(b) no amount is recognised as consideration for goodwill or excess of acquirer’s interest in the net fair value of acquiree’s identifiable assets, liabilities and contingent liabilities over cost at the time of common control combination, to the extent of the continuation of the controlling party or parties’ interests; and
(c) comparative amounts in the financial statements are presented using the principles as set out in paragraph 10(a) above as if the entities or businesses had been combined at the previous balance sheet date unless the combining entities or businesses first came under common control at a later date.
11. The consolidated income statement includes the results of each of the combining entities or businesses from the earliest date presented (ie. including the comparative period) or since the date when the combining entities or businesses first came under the control of the controlling party or parties, where this is a shorter period, regardless of the date of the common control combination. The consolidated income statement also takes into account the profit or loss attributable to the minority interest recorded in the consolidated financial statements of the controlling party.
12. Expenditure incurred in relation to a common control combination that is to be accounted for by using merger accounting is recognised as an expense in the period in which it is incurred. Such expenditure includes professional fees, registration fees, costs of furnishing information to shareholders, and salaries and other expenses involved.
Example below:
On August 17, 2010, Avatech acquired all the outstanding common stock of Rand Worldwide, Inc. (“Rand Worldwide”) in a reverse merger transaction. As a result of this merger and in accordance with US GAAP, the consolidated financial statements represent a continuation of Rand Worldwide and thus include the results of Rand Worldwide for the full quarter ended September 30, 2010 and the results of Avatech from the date of acquisition through September 30, 2010. The balances reported for prior years reflect the accounts of Rand Worldwide only.
News to follow soon
We got an MM and a bid!
Got mine with Scott too
$8s taken out. $14s up ;)-
Last day to buy MONAD
All that is left that is needed is solid revenues, and we move. June will be fun
DD looks good thanks for the info. Good board here. Trips gone soon.