Retired CFO
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Nothing yet but it's early. I said I would post here when/if I do hear back. Hopefully the answer will be an announcement. GLTA
Yep. He was late to work. lol. My GF went ahead and filled at .0032. I'm going to make her a lot of money as she now has 10M shares. GLTA
It's after the opening and Nite is not there. Hopefully it means the dilution is done. Or maybe he overslept. GLTA
I just sent this email to Chuck. If he responds I'll post on here. GLTA
Chuck, considering that your 8K filing with the SEC is now in non-compliance, the right thing to do is to update your shareholders on the status of the acquisition/financing. They spent their hard earned money to buy your stock based on what turns out to be incorrect data. Don't you think you owe us at least an update? Anything. Thanks.
Dew
Not being a chart reader what does it tell you Oilman? I basically view charts as worthless when it's news that will move this stock and nothing else. GLTA
My GF had a bid in today for 5M shares at .0030. Didn't fill. So we moved it up to .0031. Didn't fill. I'm thinking either Nite had his assistant doing his handy work today or maybe Nite is getting close to the end. He certainly is usually much more agressive. Just a guess and a wish. GLTA.
I think I've heard a few people say they had to call in orders for Pinks at Scottrade? When I'm ready to move I'll ask the folks at Stockhideout who have a lot of experience buying Pinks. You ever get on there chat?
My girlfriend has an order in for 5M more shares at .0030 right now and I think Nite will eventually take them before stepping up the bid. He's a Pimp and can't resist large orders. LOL. And by the way, there are 11 MM's at .0030 right now so this thing has incredible support. GLTA
Right now I'm with Fidelity and only have L2 on OTCBB and above and not Pinks. I told Fidelity yesterday I'm thinking about moving my money to someone else because they don't have L2 for Pinks plus they charge outrageous fee's to buy Penny Stocks, including CBAI.
Here is what Matt said recently in an email to me regarding the selling of shares:
"We have no choice. We have these debts...they are called in, and we have to pay, otherwise we are in default, which would be far worse than just paying the debt. Thats why we raised the 7.5M in long term equity. that way, once the debt is gone, we don't have to give away shares."
And he said this in the Aug 3rd announcement:
"With this debt retirement, CBAI has only the put option agreement obligation with SIOF remaining on its balance sheet. Cord Blood America regards this as a key milestone on its path to being able to operate debt free," said Matthew Schissler, Cord Blood America Founder and CEO.
GLTA
Don't be too hasty. The link below shows the last shares issued (S1) May 1st for sale. Although they couldn't sell immediately and not sure when they started selling for sure. They should now almost be gone now and once they are watch this bad boy take off. If you have L2 you will see it's Nite doing all the selling for Tangiers. Beyond that little selling at these low prices. Hang in there IMO.
http://app.quotemedia.com/quotetools/showFilingOutline.go?symbol=CBAI&cp=off&name=CORD BLOOD AMERICA, INC.: S-1&link=http%3A//quotemedia.10kwizard.com/contents.xml%3Fipage%3D6297702
Very nice summary of where we're at. The Risk/Reward is what keeps most of in. GLTA
Do you have anything to offer or are you just like us, waiting for something? You can see I posted all my emails from Chuck. What do you have to offer other than hope?
This was his last response.
From: Chuck Gamber (ceo@areteindustries.com)
Sent: Tue 8/11/09 3:11 PM
Dew
I am sure that this won't be the last time you send a email asking questions, whick is ok.
I stated near term to leave it open ended as I don't want to be specific to what and what not I can control.. Our funding group is working very closely with more than one group to complete this purchase and we are in daily contact with them. We appreciate everyones interest, their concern in the length of time this is taking.and a desire for us to be more specific. But we are maintaining our position as required.
Thanks for the email and have a great day!
Charles Gamber
CEO
Arete Industries, Inc.
On Mon, Aug 10, 2009 at 3:01 PM, Dew
Chuck, let me have one more shot at you. How does Chuck define near-term? All you have to do is answer A, B, or C.
A) Within Days
B) Within Weeks
C) Within Months
Thanks.
Dew
From: Chuck Gamber (ceo@areteindustries.com)
Sent: Thu 8/06/09 11:51 AM
Dew,
Still valid our financial partners are working very hard to finish the remaining funding needed.to complete our deal.
Chuck Gamber
On Tue, Aug 4, 2009 at 3:45 PM,
Hi Chuck. Is this still a valid statement? "We anticipate receiving these (written affirmative commitment completed) in the near term." Hope so. Thanks and take care.
Dew
OK. Below are the emails from Chuck starting with the first one. You tell me what you think?
Date: Tue, 28 Jul 2009 22:17:51 -0600
Subject: Your shareholder concerns
From: ceo@areteindustries.com
Dew,
We have not put out a press release as we are still working with our original funders. The process has taken longer and been slowed by current banking and funding issues. These issues are affecting the entire banking and investment industry and the funders that we are working with. I can tell you that as soon as we have the written affirmative commitment completed we will announce it. We anticipate receiving these in the near term. We continue to have a good working relationship with all participants involved in this endeavor. In your voice mail you asked why we put out an 8K on the planned purchase and sale. We did so because we are required to state any definitive action that we undertake within three days of the action being taken. We understand the need to finish our filings. We are currently working on them. We have engaged the auditor to complete our past audits and prepare to become current in our filings. Thank you for your support .Please feel free to contact me again and I will answer what is allowed under Reg FD
Sincerely,
Charles Gamber
CEO
Arete Industries, Inc.
OK Chuck, you didn't lie maybe. You just keep making promises you don't keep. Is that better? And all will be forgiven if you finally keep your word. GLTA
I'll tell you what is funny. I always told David that he needed a kitty. More profit than we figured. But never did I sugggest he lie to the IBM CFO, Frank Metz. That is what got him fired. I would love to hear from David. As he knows his lying is what led to his firing, and never did I suggest that. Even though he did little except reward me while I worked for him, I knew he was brilliant. A MIT Grad. GLTA
He's still working.
Ditto. Did you look up David Dill yet?
Good to know you're a conservative like me. GLTA
Toochee Racecardriver. Not sure of the spelling of toochee, but I retired at the age of 49 and haven't worked a day since. I'm now 60. Doubt you could say that. And I've outperfromed MIT grads, Harvard grads, Brown grads, and I could go on and on. You wouldn't believe it if I told you who I know and are friends with in the financial community. I worked for a MIT grad one time. His name is David Dill. Look him up. He couldn't hold mustard to me. We fired him.
I own the stock for one simple reason. I believed him. Me bad.
And by the way, I've told him exactly that. He lied. Twice.
Wow. You are uninformed. Chucky said on April 29th that they had a definitive agreement and funding so would close the deal by June 1st. Didn't happen. Chucky also said he would do all the filings by the end of June. Didn't happen. And he made the same statements last August. Didn't happen. These guys have been looking for funding for over a year now. GLTA
Well OILMANSAYS, welcome to the wait and see Board. I know that 2+2=4. And if the funding was so easy we would have had it over a month ago. I hold a large share of this stock. But twice Chucky has said he had funding and both times he lied. Same with doing the filings. I'm not selling but I'm not happy either. GLTA
I'll have to admit I never heard the price of a cup of oil compared to a cup of coffee. But if you compared a cup of gas to a cup of coffee, what do we have? I don't feel like doing the math.
Who are you and why are you late to this parade???? You just created your ID today. Are you a pumper or are you here to save us from committing a sin. Selling now.
GLTA
It's not going to pop until Nite (MM Diluting) is done. Who knows when that will be? And yes it will pop big. If you have L2 you can see this.
As for competitors. Matt says there are about 20 in the US and that Cord Blood is #4. And he also says he wants to buy up as many as possible once they are out of debt. Only condition, it will have to be cash flow positive. The Lab will give them a huge advantage. GLTA
Surf, you talking about Donald Prosser? What was the symbol of that stock. Would like to check it out. GLTA
So Surfkid, if you know something how about sharing? I feel like I'm about the only one sharing real info with people on this Board. And a lot of people have been waiting a long time for news and I would hate to see them sell off just before the announement. Give us something if you have it. GLTA
Someone is accumulating. I can see at least one 500K buy and it could be the same person buying other large blocks. As I said before there was a 1M share buy last Thursday. Just surprised anyone could sell over 2M shares today with things looking so bleak. I haven't given up yet. GLTA
Like I said, I'm retired and not interested in going back to work. Plus I live in Florida and not looking to spend a month or two in Denver. All that can save us at this point is for Chuck to get the funding. I don't think it's a total lost cause yet but just guessing. He said "near-term" so I hope that is a sign he still thinks it will get done.
Someone bought 1M shares last Thursday. Was that anyone on this Board? I'm hoping someone knows something. GLTA
Cellman, I agree the financials are not great. But what do you expect from a company that is trading at .0033? There are companies out there, many in fact, that have no revenue and have never filed a thing that are much much higher than that. The financials will improve over time and the price will rise for sure when the dilution is done and the debt is paid off. The gross profit is already over 55% and will only improve once the Lab is up and running. This will put Matt in a great position to buy other smaller stem cell storage companies. You can't just look at this short-term . If you're only interested in day trading then this is not a quick flip. Unless you time it correctly with a big announcement or the end of the dilution. GLTA
I just happen to be a retired CFO and your statement that there are only two accounting firms in the State willing to do this work is ridiculous. Any small firm can take on this work. They don't even have to be from Colorado. Only the CPA has to certified to practice there. If I wanted to I could do it.
You hire an accounting firm to get the filings ready and you pay them enough shares so they pay a CPA to certify them. Done and legal.
BBQMan, I'm seen many companies pay for services in stock. Many. Accounting is just another service. If you don't like that idea, how about when he knew his funding was in trouble he could have sold shares on the open market while the price was still high and used that to pay for the filings. A CEO with a cash problem needs to be inventive.
As for communicating with Chuck, he's called me, he's texted me, and we've exchanged many emails. He still says they are working hard to close the funding but that doesn't mean it will ever happen. I don't think they can even afford to pay there property taxes on the pipeline as they are past due. It's either funding or bankrupcy IMO.
While there is still a chance they can pull this thing off the longer it goes the less likely. This statement from Chucky really really angered me.
"To your second question, it is our intent to move out of the pinksheets and up to the BB when such a time is right."
If the time wasn't right now, why did he commit to do the filings by the end of June. He has control over this not some funding agent. At a minimum he could probably find a firm to do it by providing stock as payment. I don't think this guy has a clue how to run a public company.
We have earnings news. Balance sheet looks better but this is before the $7.5M in long term equity. In the 4th quarter we'll start seeing the benefit of the new Lab. Any thoughts on the 2Q numbers? GLTA
Trust me. I'm more than angry at this point. Both times Chuck announced they had a deal to buy the property they said it would be followed by the filings. I just think they are broke and without funding can't afford to hire an audit firm to certify them. That's my guess. All Chuck keeps saying is they are working very hard to obtain the funding needed to close the deal. Our riches or losses totally rest with that outcome at this point. GLTA
I got the same email from Chuck and put some faith in his statement "We anticipate receiving these in the near term." Hopefully, they will solve the funding issue soon. And it's very clear ARET plans to do the filings after they get cash from the funders. No cash till then to hire anyone IMO. GLTA
I think the earnings will be released next week if I look at past releases. I'd bet Wednesday but I don't know and haven't asked Matt. Regardless, how high it goes is still totally up to Nite and how much he wants to hit the bid. GLTA