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rjbluesky - I'd say that makes the company worth considerably more as it also owns it's own intellectual property, no need to worry about negotiating licensing agreements which expire in five years and suddenly cost ten times more as AIGI have proven the technology.
Excellent news. Maybe they could licence the technology for other countries and make a royalty and a signing fee as well, and do it that way. Or, they could operate in other countries too.
Personally, I'd stick to the market they know best, not have to worry about the financing and running of overseas operations and just get the royalties and licence signing fees.
All sounds good to me .... just keeps getting better.
Again, many thanks for your excellent find rjbluesky.
rjbluesky - excellent find Well Done!
Interesting stuff early_retirement
Behind what eddy2? Hasn't Mark Cuban been linked with ICPA? Not CCTR?
Something just occurred to me .... AIGI's name is Algae International.
So, I'd guess that apart from setting up in the USA and expanding extensively over there that they also have ambitions to operate in many other countries maybe?
Just thinking, or typing out loud ..... if they win a lot of military contracts, all the military bases that are based abroad (and lets face it, the USA has a lot of them)will also need to be served with algae fuel as otherwise all the bases abroad will need to run off petrol driven engines only.
I must admit, to me it seems that AIGI could really become a very very big company. If the maths in their offer document is correct, they could not only end up supplying the USA government but others as well and after that, who knows. So they might even produce the first environmentally friendly tanks then maybe? lol
Sorry to ask, but can anyone remember if they own the intellectual property rights to the process or have they licenced it? If they own it then they can pretty well go world wide as fast as they possibly can set up processing facilities.
I've been thinking for quite some time that I'm only going to sell what I need to, and keep the rest of the shares I have in AIGI for the long term.
Glad to hear any views.
I am tempted to try and trade and increase my holding ....
Nope no call as we all expected. This person is either out of the office today, or has their phone on voice mail always.
rjbluesky - all interesting points. I phoned the AIGI investor relations person and left a message any my number on their voice mail. I'm not sure they will call me back, but I did say why I was calling in my message ...about details of the reverse merger and when they might be updating the market and so on.
Even if they choose not to reply to me, as I'd guess they won't, they might call Philip and say investors are calling us, please tell us when you will be updating the market and so on ....
Xzibit - well you're lucky, you can go for a lot of dealing only services over there. I'm in London and apart from Charles Schwab no other US based brokers really allow you to open a US stocks trading account and pay sensible dealing charges.
I'd open up one today and fund it if you can. TDAmeritrade has caused the share price of another stock I'm invested in to crash as well. Yet, the DTC have said to one of my fellow investors about that stock that there is no chill. TDA says there is and won't let investors dealing through them to trade it!
I'll be opening my next US dealing account with Interactive Brokers. They were voted pretty good by Barons. Good luck setting up your new account wherever you decide to set it up.
One thing still puzzles me about all the shares that are still being traded - where are they coming from?
I would have thought most of us here pretty well have a sizeable proportion of the outstanding shares in our dealing accounts, and Philip has bought the rest!
rjbluesky, I'm sincerely expecting us to hear this week about the conversion ratio. Let me know what you think? The reason I say this week is as follows. Tis is taken direct from Philp's blog:
"Savanna East Africa has made exceptional progress this month toward consummating its reinvention strategy. The anticipated merger of the Algae International Group into Savanna East Africa is expected to be finalized this week. A merger agreement has been drafted and is being actively edited by the two parties. The draft agreement includes terms for the spin off of the East African Condom subsidiary, the publication of a current financial statement with the OTC Markets, and a recapitalization of the public stock structure. Finalization of the agreement may extend into next week as all parties hammer out a mutually satisfactory articulation of deal terms. Nevertheless, all parties are demonstrating unwavering commitment to closing the transaction."
Now as I've already stated on the board earlier this week, AIGI has already put out a PR stating they are reversing into NVAE. In my view, they wouldn't have made that announcement unless all the details has been finalised. Until all the details were agreed - especially the conversion ratio, the deal could be called off any time they wanted to. Now they have entered into a legally binding contract.
poster44my - many thanks for your reply. Well I'm not sure where Philip reached in his negotiations but I'd guess they were concluded in some way or other.
I'd guess we won't be waiting till 31 December either for the merger to be completed as anyone having $5K to invest would be very interested after seeing AIGI's future profit growth predictions over the next four years.
poster44ny many thanks for your discussion. Does anyone know if the note holders have agreed to convert their shares into NVAE ordinary stock maybe?
I think the starting point for how much AIGI will pay us for our shares will be somewhere between $2m - $3m. That is so that it is really worth it for AIGI to reverse into NVAE rather than going for a new floatation on the pink sheets. I will be very pleasantly surprised if it is higher than that.
After that, I'd think you could take the figure of $2m-$3m and divide the number of outstanding shares either by 330m or any figure between 330m and possibly even maybe as low as 200m outstanding shares.
So, taking all those parameters, you can work out every permutation, you can think of as to what we will get.
I think news will come out next week ..... no doubt a certain poster is going to criticise me for posting this. However, Philip said it himself in his blog that news was imminent. I'm just quoting him.
So don't shoot the messenger, just ask Philip.
Good we hit the two's for the end of the day ......
I'm hoping for news next week .... early rather than later ... Has anyone tried phoning AIGI to ask when they will be publishing full details of the reverse merger?
If Philip won't tell us ... maybe they will tell us when we will find out?
Yes I know sorry.....
I hold just under 8.6m
OTC Markets says 425m shares outstanding on 26 July
http://www.otcmarkets.com/stock/NVAE/company-info
That figure can't be right though! lol
49m shares outstanding according to FT.com
See the link below:
http://markets.ft.com/research/Markets/Tearsheets/Summary?s=NVAE:PKN
See bottom right below the chart.
Curiouser and curiouser .......
Yup, I'm just puzzled as to where he will list the condom part? He's not going to get a new listing after allowing AIGI to reverse into the NVAE shell.
Any thoughts anyone?
See rjbluesky's sticky post above from 05 November. Like I say AIGI are reversing into NVAE and acknowledge that in the PR of the same date.
They wouldn't release news like that unless they had signed a deal would they?
I honestly believe we are expecting news to hit the market any time now. That statement is not a ramp because .....
AIGI have already confirmed the merger/reverse merger/ name change (of NVAE to AIGI)is going to happen in a PR to the market. (Spotted earlier in the week by our eagle eyed researcher and moderator - rjbluesky - please step forward and take a bow!)
In that case as they have released news to the market, the deal must have been completed, signed, sealed and delivered as they say. I'd guess and I'm just guessing, that they must have set a date to release the news. We just don't know when. Or maybe after market close tonight. We honestly just don't know when.
We are just waiting to see what we'll get.
Night night ... time for telly... its 9pm in London!
Where are all these shares till coming from? Looks like they're squeezing the pips out before news comes out! LOL
eearly_retirement - funny you should say that about name tags with our user names on them.
I went to an investor evening for an oil company I'm invested in here in London in July. I've been posting on the company's notice board on another site for over a year and, apart from other private investors we all looked for each other by our user names!
There were some good people there that night, it was nice to meet them finally.
Well folks ... to all of you who've replied to my recent post .... we'll have to wait and see!
The suspense is killing me! lol
rjbluesky wouldn't it be $250m market cap for the NEW AIGI divided by 330m shares outstanding giving a share price of 75.75 cents?
I don't think AIGI will be valued that high on it's readmission as AIGI under its new ticker symbol.
Well lets wait and see where the conversion ratio leads us. After this post I only have five left to last the day guys! lol
Ask Spuds - I think it was a proposed sale that he notified the market of at the time he stepped down but I don't think it was his entire holding.
If you bought for three cents and then the share price feel to 0.0013 you realise a colossal loss!
A Strong word of caution for everyone invested here
If you click rjbluesky's post and read it, that is quite possibly going to happen with the share structure, if they do it without suspending trading, making the adjustment and then re-opening trading, your trading account is going to show a ridiculous rise in its vale as it will show millions of shares suddenly valued at $5.50.
I'd strongly suggest that nobody sells them at that point to realise what they think is a gain of millions of dollars.
Your broker will not let you keep the money and will just take it back, and you would have been charged a dealing charge as well.
Wait till the correct STATED adjustment has taken place, to see what you are left with. I think you're likely to be happy at that time, but not become instant millionaires.
Then what you finally see on the screen, will be what you get. I've seen this happen with other companies.
Yup I had my final top up at market opening this morning. Got filled very easily at that time. Then it was a slow move from there but things have picked up nicely now.
Come on guys, news about this merger came out in July, or was it early August - not like you haven't had enough time to buy in! lol
Giver456 that's usually the way it works as far as I know. They usually say something along the lines of ..... further to the earlier announcement of the impending merger (or reverse merger) of AIGI with NVAE the conversion ratio of the shares will be XXXX to every one share of AIGI at a nominal value of $5.50 per AIGI share.
Then they go on to say something like .... trading in NVAE shares will cease to commence as of the end of trading on XX November. Readmission of the companys shares will commence on XX November after which the company's name wil change to Algae Fuels and trade on the OTCBB market under the symbol AIGI.
Le2dynasty I agree and the other thing is that when news hits, trading in the company's shares will be suspended and that will be that, because only those holding at the time of the suspension will reap the rewards.
That will be nice to see .... but I think the money will be made when the the shares are converted and the ticker is changed to AIGI.
According to the document published by Regus, in five years they expect their profits to have gone up to $17m per year I think? (Doing it from memory.)
Well I've got a baby holding compared to some here 8.6m (well just a smidgen under that) but am hoping to use the funds generated here to invest in Philips other companies. Looks like he's got the same plans for all of them too!
I wonder if all those buys yesterday was Philip buying back shares or private investors buying in because of the news?
Any comments anyone?
Those buys on the screen are me. I just got my top up, so now I'm locked and loaded ready to go, and hopefully to hear a very favourable conversion ratio.
Good luck everyone, we have some great posters on this board.
rjbluesky in particular needs a special mention both as moderator and researcher on the company.
Well done rjbluesky. Very well done.
ok got my funds credited today, just placed three buy orders for 999,999 as Schwab will not let me buy more than that in one transaction!
Hopefully, they'll get filled. Anyone got level 2?
My comments are back .... so no cleaning house! Just Unreliable website! LOL
Here's the link (same as above):
http://www.philipverges.com/greenfield/2012/10/30/where-did-october-go
yup hope my funds hit my dealing account before the news is released. After all, everyone else is still getting their shares at 0.0001! I'd love a few more at that price too.
Doesnt anyone know. was a lot of the early trades today people selling? People who were just trading the share?