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Anyone interested in participating with Penny King Holdings Corporation in gaining control of EDT (American Stock Exchange) please send email to joe@galsys.com and request a confidentiality agreement and proxy agreement. Currently trading at .40-.45 with a negative book value....
Founder: The Free and Clear Foundations of Earth, Chairman & CEO Penny King Productions, The Free and Clear Bancorporation, Senior Trustee; The Free and Clear Fund. www.iexchange.com top analyst!
The epidemic of struggling venture-backed companies appears to be spawning its own growth industry.
A number of companies have launched in recent months with the goal of aiding these struggling firms. The latest to get into the act is Recognition Group (http://www.recognitiongroup.net), a restructuring, reorganization and turnaround specialist that recently formed two new entities aimed at venture-backed companies: Recognition Management, an interim and crisis management services business, and the Second Frontier Capital Fund, a venture capital fund focused on out-of-favor and distressed technology investing.
"Industry analysts project that between 60 and 80 percent of venture-backed companies will need professional turnaround or wind-down assistance in the next twelve months," claims Juan-Carlos Garcia, co-founder and managing director of Recognition Group and head of the Second Frontier Capital Fund. The fund "will take an opportunistic approach to investing in out-of-favor or struggling companies that need an infusion of capital," Garcia said, and "will leverage Recognition Group's capabilities to provide the guidance, expertise and continuation capital necessary to navigate through uncharted, critical situations."
Recognition Management is led by Kaleil Isaza Tuzman, former co-founder and CEO of govWorks, and Jonathan Agus, a turnaround and workout specialist with experience in the high tech sector, as well as the retail and manufacturing industries. Under the direction and management of Garcia, a former investment banking executive with Banco Santander Central Hispano (now called BSCH) and managing partner at Suala Capital Fund, Recognition Group will raise at least $30 million for the distressed technology turnaround fund. The initial focus of the fund will be on e-government, e-finance and payment-related technology companies. The Second Frontier Capital Fund has been capitalized by an initial $15 million investment line from an unnamed European financial group and will begin additional fund-raising immediately.
Fueling the rise of these turnaround companies is a shortage of managers and directors who have successfully navigated companies through an economic downturn. After all, it's been a decade since the U.S. was officially in a recession.
"In today's technology marketplace, neither the day-to-day management nor boards-of-directors of many portfolio companies have experience in dealing with a broad economic downturn," said Bill Sahlman, co-chair of the Entrepreneurship and Service Management Unit at the Harvard Business School. "In crisis situations, companies need counselors with a mix of direct experience, emotional distance and a specific set of skills that can help move a company down the path to profitability or to an honorable discharge of assets to protect investors."
Some of these firms are taking a riskier approach to rescuing struggling companies. ibasecamp (http://www.ibasecamp.com), for example, is willing to work with struggling dot-coms in exchange for equity. Advise4Stock (http://www.advise4stock.com) also works with companies in exchange for equity, but that company's focus is more on early stage start-ups seeking funding. The challenge for these companies is to make sure that the companies they take on have a good chance of succeeding.
ibasecamp's focus is turnaround plays, and it may not be as crazy as it seems. Trident Capital recently announced that some of its new $725 million fund will be invested in public companies that need cash but are operating close to break-even. Trident has identified 175 companies that are trading below fair value, and has found the valuations of some public companies to be more compelling than private company valuations. Given that the IPO craze of the last couple of years essentially turned the public markets into venture capitalists, placing investors who dared in the role of deciding which companies would win the Internet race, it seems fitting that VCs are now finding some of their most compelling opportunities among those publicly traded companies.
Founder: The Free and Clear Foundations of Earth, Chairman & CEO Penny King Productions, The Free and Clear Bancorporation, Senior Trustee; The Free and Clear Fund. www.iexchange.com top analyst!
Effective 3/29/01 1513 reports posted at www.iexchange.com have been wiped out as iexchange, a former idealab company has been shut down...
Founder: The Free and Clear Foundations of Earth, Chairman & CEO Penny King Productions, The Free and Clear Bancorporation, Senior Trustee; The Free and Clear Fund. www.iexchange.com top analyst!
Save them, they are worth $8.00 each...and by the way, short any stock trading higher than 3x book if you can, otherwise save your spare change, in DC we are buying pennies from homeless people through the volunteers retained by our non profit Free and Clear Foundations for $1.00 each, right in front of the Federal Reserve Bank Headquarters and across from the Treasury building near the White House...stay tuned as the dollar soars, and another 5 trillion get's swiped into thin air from the NYSE (current market cap 18.5 trillion), and more South American countries currencies collapse and adopt the dollar as their standard of value....Three cheers for the Penny King!!!!
Founder: The Free and Clear Foundations of Earth, Chairman & CEO Penny King Productions, The Free and Clear Bancorporation, Senior Trustee; The Free and Clear Fund. www.iexchange.com top analyst!
I could bring Oxford a billion dollars a year in new business which would help NICM if they would ever return my calls. www.iexchange.com has been shut down so I might get more active now on this site, not sure yet...not really a place where you can track predictions and analyst reports. What do you think?
Founder: The Free and Clear Foundations of Earth, Chairman & CEO Penny King Productions, The Free and Clear Bancorporation, Senior Trustee; The Free and Clear Fund. www.iexchange.com top analyst!
Obviously this guy has not heard of ...........................He is "The Penny King". He began investing in penny stocks 20 years ago. He likes to trigger mergers/acquisitions, tender offers, play the global currency exchanges, cause friendly and sometimes unfriendly, takeovers or consolidations. He sees the world filled with currencies of different colors and values as they are governed by insiders at the tops of pyramidical structures which serve their constructors. He donates 100% of what he and his group of followers, (currently around 70 at iexchange) generate in the stock, bond, options, deriviatives and currency markets to the Free and Clear Foundations of Earth, International. The Foundations in turn perform two functions with the money. First and foremost, they buy pennies from homeless people for a nickel each. They buy nickels from poor people who earn less than $12,000 per year for a quarter each. They buy quarters from middle class folks for a dollar each, unless they are the newly minted commemorative State quarters, in which case they buy them for $8.00 each. And they buy Liberty Dollars from wealthy people for a Benjie, that's a Ben Franklin $100.00 bill. They leave the dimes to the Rockefellers of the world. This activity, conducted at the micro level through a cadre of volunteers on the streets of American cities has caused some interesting things to happen at the macro levels, including 130 central banks recently successfully giving the Euro a temporary boost. In other Macro events, the US national debt has been reduced from 5.6 trillion to 3.8 trillion, following record surpluses. Jubilee 2000, an organization strongly supported by "thepennyking" has put a dent in the international debts of some of the worlds' poorest countries. The mission of the Free and Clear Foundations, a supersized version of Habitat for Humanity, is to clear the earth of all Debt within the next decade. Despite record amounts of new issuance by corporations that span the earth, government debt is projected to shrink to zero in the coming decade. Secondly, the Foundations loan up to 80% of the purchase price for a single family owner occupied home for principal only, meaning Zero Interest MortgagesTM, or Principal Only MortgagesTM. (ZIMs or POMs). The Foundations, through their advisors and brokerage networks, make a market in the mortgage backed paper to foreign investors who are seeking a hedge against the surging U.S. dollar. Many bankers have asked "thepennyking" how this is done. It is very much like a zero coupon bond. The fees and yield are front loaded so that the borrower pays all costs of the borrowing (11 to 12 points) during the first year of the loan, and thereafter all payments go to principal reductions. The APR on this loan is around 4.9% which is paid back in 8.3 years as opposed to 15 or 30. He is the Founder of both the Free and Clear Bancorporation which has authorized 500 trillion shares of voting stock to effectuate the consolidation of 84 of the largest banks in the world during the next decade. The Foundations are also the largest stockholder of Penny King Productions, Inc., and the Free and Clear Bancorporation. Penny King Productions also has a large stake in the Bancorporation, whose only current subsidiary is "The Bank of Pen". The Foundations, through their affiliations around the world, have established the Free and Clear Fund, a private offshore fund, which pools funds from investors in 200+ countries outside the United States, and is utilized as an M&A Fund. Donations to the Foundations are also used on an interim basis in this fund, currently around $56 billion. Currently operating on 7 continents, the major focus is on consolidating the global financial services industry to reduce the number of competing stocks, bonds, and currencies, so as to provide a more cooperative global financial community which provides the greatest good for the greatest number in terms of equity. In 1993 his personal assets were around $2 billion. Today, his assets would be in excess of $76 billion, however, his fortune is managed from offshore locations and trusts, all of it donated to the Free and Clear Foundations of Earth and managed by him, its' Senior Trustee. He was a banker in the mortgage industry in Seattle for ten years. He has worked for dozens of industries including publishing and film in Los Angeles. He is an accomplished author of several books under different "pen" names and is an expert "punster". He enjoys making people wealthy, if they are willing to donate half of what he has showed them how to earn, to the Free and Clear Foundations. There are 66 organizations globally. He likes to create wealth for the greatest possible number of good people. He can be in and out of a stock or currency within seconds so this site does not reflect any real time positions or trades. He asks that you give away half of all that you earn in the markets, just as "The Greatest Salesman on Earth", a book by Og Mandino, a book he highly recommends in order to understand his investment philosophy. As the Senior Trustee of the Free and Clear Foundations of Earth, International, he is responsible for managing a portfolio in excess of $76 billion. He has owned off-shore banks, many Canadian and US companies, knows real estate inside and out, and is Magyar, (Hungarian) like George Soros, one of his many mentors. The only living person on the planet in history so far to have made $1 billion in one day by shorting the British Pound. Another favorite mentor is Nikola Tesla, the Croatian inventor of alternating current patents sold to Westinghouse in 1893 for $1 million. Currently, he is working on over 2000 merger deals simultaneously, some of them penny stocks, some of them large multinational deals. He favors a consolidation in the global REIT, Banking, Financial Services, Computer, Technology, Entertainment, Publishing, Health Care and Telecom sectors. He has been talking to numerous telecoms about a new technology called ThoughtWareTM, which allows humans to communicate with computers and phones etc without a mouse, keyboard, keypad or VRT, just a thought! In the past he generally valued a company at ten times book value, which was usually his tender offer price, unless he saw some hidden extra value in a company. As of November 1, 2000, however, his philosophy on values had completely shifted, and his new tender offer prices run around three times book value. If a company is trading under book, he tends to jump on it. If it is way over book, like Amazon and Yahoo, he is short for short periods (one to three days). He buys in Europe, Japan and Latin America and sells in the United States, and is heavily shorting the Yen against both the Euro and the US Dollar, as well as 200 other currencies at different times throughout the day or night. The profits from these currency transactions provides the means to buy spare change from the public through the Foundations. He forcasts that a single global currency (the World Dollar) will eventually evolve, replacing even the U.S. Dollar, which could be the last one to go, (it is backed by nuclear bombs, and the world's strongest military, despite the words "In God We Trust"). The outcome forecasted by he and his peers in some of the highest echelons of global finance is a Free and Clear (debt free) planet within his lifetime. . He agrees with Michael Miliken, the former junk bond King, that the coming rapid technological changes shall be as miracles and wonders to all of us. He recently recommended shorting 5 trillion Yen to the Foundations. A few days later, Japan's Central Bank raised its rates for the first time in 10 years. Despite this, the Yen has fallen 15% against the dollar since this recommendation. Some of his letters to certain U.S. financial institutions preceeded the current continuous consolidation in the global financial services sector and it is the intention of the Foundations to consolidate the largest of these entities into a single economic unit in order to more equitably distribute wealth among the planet's 6 billion inhabitants. Some of his letters to various boards and investor relations people, and proposals, are published here for all to see. Your reading of his reports contributes and assists in that cause. To gain further insight into his investment philosophies, he recommends you read George Clason's book, "The Richest Man in Babylon", written just before the last depression, or all the books written by George Soros. His favorite quote is, "God Blesses You a Trillion Times Per Second", a quote attributed to one of his pen names. The postings herein are not offered as investment advice and is solely published by the Free and Clear Foundations as free information. Through the Foundations and other foreign organizations, he is negotiating to buy all of the outstanding debts of the US, Canadian, Hungarian, Latin American, Chinese, Japanese, British, German, Italian, African, Indian and Russian Governments and convert them into minority equity stakes in the Free and Clear Bancorporation. 35% of the U.S. national debt is owned by foreigners. "Save your pennies", is his best advice! His favorite math problem: "Divide 6 billion people by two as many times as you can and tell me by how many cousins removed you are related to me?" His favorite riddle: "How many days would it take to have one million dollars if you started with just one penny and doubled it every day? How much would such a talent be worth to you? Would you like to have such a talent? Just ask! If you took $660 trillion of global outstanding debt, converted it all into equity and equally divided it amongst 6.6 billion people, what would be your share of this net worth? He sees the Yen continue to falter as it stumbles with over 1 trillion in bad debts. Japan Inc. is going bankrupt, so he is recommending selling 500 trillion Yen to the Foundations effective December 31, 2000. The Companies you see listed here are all targets for acquisition/merger or consolidation as he works behind the scenes to bring it all about. Answers to the riddles above: 32 cousins removed. 28 days. It is worth giving away 500K to learn how to make $1 million in 28 days. Your net worth would only be $1,000.00. He got the name "the penny king" from the homeless people on the Streets of Portland, Oregon, from whom he purchased hundreds of thousands of pennies for a nickel each beginning in 1993. Save your spare change...On paper, he is already a trillionaire, all that is left is the execution, and if he dies, the Foundations will live on as his lagacy to humanity. Not all the reports posted get published: The following list during the past six months was not posted and is posted here for the record: 9/16/00 NICM Accumulate 4.9%, pending news... 0 9/16/00 ZERO Accumulate 4.9%, tender for rest...pending news... 0 8/5/00 AMAT Accumulate 4.9% 0 8/4/00 CSGKY Accumulate 50 million shares... pending news... 0 8/4/00 NDCRY Accumulate 4.9% 0 8/4/00 SUBJY Accumulate 150 million shares...pending news.... 0 8/4/00 PRM Short 2 million shares. 0 8/29/00 VIPM Accumulate 4.9% 0 8/18/00 ZERO Recent News... 0 8/18/00 CORL Accumulate 4.9% 0 8/18/00 CDN Accumulate 4.9% 0 8/17/00 BINC Tease, entice, intrigue... 0 8/17/00 CLIC Tease, entice, intrigue... 0 8/17/00 GGNT Accumulate 4.9% 0 8/17/00 HIRE Tease, entice, intrigue... 0 8/17/00 TWX short (sell) 0 8/17/00 CNDL Accumulate 4.9%... 0 8/17/00 VO Tease, entice, intrigue 0 8/17/00 QCOM Tease, entice, intrigue 0 8/17/00 RNWK short (sell) 0 8/17/00 ATHY Management insight 0 8/17/00 GNET short (sell) 0 8/17/00 SOFN Tease, entice, intrigue... 0 8/17/00 VNWK pending settlement of suits 0 8/17/00 SGY Accumulate 4.9% 0 8/17/00 CHRD Tease, entice, intrigue... 0 8/17/00 EDIG Tease, entice, intrigue... 0 8/17/00 AMKR Accumulate 4.9% 0 8/17/00 MCTR Tease, entice, intrigue... 0 8/17/00 ASYS Recent news 0 7/31/00 FRA Settle the suits and then accumulate... 0 7/17/00 EPWN Another Penny Stock in trouble with SEC... 0 7/12/00 ARMGE Can I raise the dead? 0 7/11/00 CSGKY Free and Clear Bancorporation Bids to Acquire Cr Suisse 0 6/21/00 CSR Power Players Perform Plentifully in Perfect Passion 0 6/20/00 FPFX BARC FINDING FRAUD 0 11/28/00 LOCH Nakedly Short 21 million shares till it hits 3x book value 0 11/28/00 ABYNY Accumulate 45 million shares pending news... 0 1/8/01 TWA Short 8MM shares daily till it files for bankruptcy.... 0 1/12/01 AFTC When it comes out of Bankruptcy... 0 1/12/01 NOOF Accumulate 4.9% pending more news 0 1/12/01 AEN Short 600K shares daily...losses eroding book value... 0 1/11/01 CRWN Short 300K shares daily till it hits 3x book value... 0 1/11/01 SAPE Short 8MM shares daily. 0 1/11/01 JNPR Short 8MM shares daily till it hits 3x book value... 0 1/11/01 FSBC Accumulate 4.9% pending news 0 1/11/01 BZH Hold 400K shares pending news... 0 1/11/01 FNAN Accumulate 4.9% pending news 0 1/11/01 AED Accumulate 4.9% pending news 0 1/11/01 SRCE Accumulate 4.9% pending news 0
Founder: The Free and Clear Foundations of Earth, Chairman & CEO Penny King Productions, The Free and Clear Bancorporation, Senior Trustee; The Free and Clear Fund. www.iexchange.com top analyst!
Truth is a small grain of sand on the beach of public relations.
Founder: The Free and Clear Foundations of Earth, Chairman & CEO Penny King Productions, The Free and Clear Bancorporation, Senior Trustee; The Free and Clear Fund. www.iexchange.com top analyst!
You do the money changers justice with your words of wisdom. Now if only the public would be as wise.
Founder: The Free and Clear Foundations of Earth, Chairman & CEO Penny King Productions, The Free and Clear Bancorporation, Senior Trustee; The Free and Clear Fund. www.iexchange.com top analyst!
Some of us are like Penguins, we enjoy the icey cold chill of a bear market...we all make choices.. yeh if i were homeless again I would hitchike the heck out of DC, So any new DD on NICM?
Founder: The Free and Clear Foundations of Earth, Chairman & CEO Penny King Productions, The Free and Clear Bancorporation, Senior Trustee; The Free and Clear Fund. www.iexchange.com top analyst!
You are such a savvy and noble advisor to so many, I congratulate you on your visible expertise in the field of stocks, bonds and other investments. This was very well put, no pun intended...
Founder: The Free and Clear Foundations of Earth, Chairman & CEO Penny King Productions, The Free and Clear Bancorporation, Senior Trustee; The Free and Clear Fund. www.iexchange.com top analyst!
How many shares do you own if I might inquire? I do not own any at this time...
Founder: The Free and Clear Foundations of Earth, Chairman & CEO Penny King Productions, The Free and Clear Bancorporation, Senior Trustee; The Free and Clear Fund. www.iexchange.com top analyst!
Ok, I will buy them from you if you will accept only US Liberty Dollars which our organizations paid $100 each for from rich folks like you in exchange for them. By the way, three homeless people froze to death last week in Washington DC, I hope none of them were your relatives...
Founder: The Free and Clear Foundations of Earth, Chairman & CEO Penny King Productions, The Free and Clear Bancorporation, Senior Trustee; The Free and Clear Fund. www.iexchange.com top analyst!
Which one? thanks. you too...manifesto huh? Sounds like a commie plot to me, a free and clear philisophy, yes, manifesto, hmmnn, better study that word in the dictionary a bit more carefully... still short anything over three times book... you are seeing the effect of the people taking charge of their money instead of giving it to an irresponsible government which gave the control to the bankers (money changers)...save your pennies and other spare change... you are gonna need them in the future sooner than you might think...
Founder: The Free and Clear Foundations of Earth, Chairman & CEO Penny King Productions, The Free and Clear Bancorporation, Senior Trustee; The Free and Clear Fund. www.iexchange.com top analyst!
And how many shares do you have?
Founder: The Free and Clear Foundations of Earth, Chairman & CEO Penny King Productions, The Free and Clear Bancorporation, Senior Trustee; The Free and Clear Fund. www.iexchange.com top analyst!
Do you own any shares of NICM?
Founder: The Free and Clear Foundations of Earth, Chairman & CEO Penny King Productions, The Free and Clear Bancorporation, Senior Trustee; The Free and Clear Fund. www.iexchange.com top analyst!
Friday November 3, 2:44 pm Eastern Time
Press Release
SOURCE: National Institute Companies of America, Inc.
NICA Issues SEC Update
PITTSBURGH, Nov. 3 /PRNewswire/ -- National Institute Companies of America (OTC Bulletin Board: NICM - news; ``NICA'') would like to clarify some outstanding issues regarding the company:
Regarding the friendly tender offer for all outstanding stock of NICA (PR Newswire dated September 25th, 2000)
After verifying salient information with counsel, and after performing an in depth analysis of the potential acquisition ``prospectus,'' NICA has chosen not to pursue any further discussions with Gabor Sanor Acs and/or Penny King Productions, Inc.
SEC Comments regarding NICA's Form 10 (PR Newswire dated August 15, 2000)
The company is still in the process of responding to comments from the SEC. We are confident that the company has responded accordingly and will clear comment when appropriate.
Market Pulse (our former P/R firm) contract has expired.
Our contract with MarketPulse has expired. We are currently reviewing PR firms.
What is the status of Boomers. (PR Newswire dated February 10, 2000)
NICA has chosen to forego an equity position or joint venture of any kind with Boomers.com. It was determined after further due diligence and discussion that the synergies between the two companies became less apparent.
Status of secondary offers (PR Newswire dated March 6th, 2000)
The company continues to keep all options open as we continue to analyze various needs as they may pertain to future potential mergers, acquisitions, joint ventures and strategic alliances.
The company welcomes comments and suggestions at corporate@nicoa.com.
Certain statements contained herein constitute forward-looking statements within the meaning of section 27A of the Securities Act of 1933 and 21E of the Exchange Act of 1934. Such statements include, without limitation, statements regarding business and financing, business trends, and future operating revenues and expenses. Although the Company believes that the statements are reasonable, it can give no assurance that such expectations will prove to be correct. Investors are cautioned that any forward-looking statements made by the Company, or contained in this profile/research report, contain no guarantee of future performance, and that the actual result may differ materially from those set forth in the forward-looking statements. Difference in results can be caused by various factors including, but not limited to, the Company's ability to be able to successfully complete planned funding agreements, to successfully market its products in competitive industries or to effectively implement its business plan or strategies.
SOURCE: National Institute Companies of America, Inc.
Founder: The Free and Clear Foundations of Earth, Chairman & CEO Penny King Productions, The Free and Clear Bancorporation, Senior Trustee; The Free and Clear Fund. www.iexchange.com top analyst!
Friday November 3, 2:44 pm Eastern Time
Press Release
SOURCE: National Institute Companies of America, Inc.
NICA Issues SEC Update
PITTSBURGH, Nov. 3 /PRNewswire/ -- National Institute Companies of America (OTC Bulletin Board: NICM - news; ``NICA'') would like to clarify some outstanding issues regarding the company:
Regarding the friendly tender offer for all outstanding stock of NICA (PR Newswire dated September 25th, 2000)
After verifying salient information with counsel, and after performing an in depth analysis of the potential acquisition ``prospectus,'' NICA has chosen not to pursue any further discussions with Gabor Sandor Acs and/or Penny King Productions, Inc.
SEC Comments regarding NICA's Form 10 (PR Newswire dated August 15, 2000)
The company is still in the process of responding to comments from the SEC. We are confident that the company has responded accordingly and will clear comment when appropriate.
Market Pulse (our former P/R firm) contract has expired.
Our contract with MarketPulse has expired. We are currently reviewing PR firms.
What is the status of Boomers. (PR Newswire dated February 10, 2000)
NICA has chosen to forego an equity position or joint venture of any kind with Boomers.com. It was determined after further due diligence and discussion that the synergies between the two companies became less apparent.
Status of secondary offers (PR Newswire dated March 6th, 2000)
The company continues to keep all options open as we continue to analyze various needs as they may pertain to future potential mergers, acquisitions, joint ventures and strategic alliances.
The company welcomes comments and suggestions at corporate@nicoa.com.
Certain statements contained herein constitute forward-looking statements within the meaning of section 27A of the Securities Act of 1933 and 21E of the Exchange Act of 1934. Such statements include, without limitation, statements regarding business and financing, business trends, and future operating revenues and expenses. Although the Company believes that the statements are reasonable, it can give no assurance that such expectations will prove to be correct. Investors are cautioned that any forward-looking statements made by the Company, or contained in this profile/research report, contain no guarantee of future performance, and that the actual result may differ materially from those set forth in the forward-looking statements. Difference in results can be caused by various factors including, but not limited to, the Company's ability to be able to successfully complete planned funding agreements, to successfully market its products in competitive industries or to effectively implement its business plan or strategies.
SOURCE: National Institute Companies of America, Inc.
Founder: The Free and Clear Foundations of Earth, Chairman & CEO Penny King Productions, The Free and Clear Bancorporation, Senior Trustee; The Free and Clear Fund. www.iexchange.com top analyst!
Nope! As I have told the 40,000 people around the country who follow me at iexchange.com, when you take control of a nations currency it doesn't matter who makes what laws. The laws of value are simple. That which is percieved as valuable is valuable, that which is percieved as worth less is worth less. What determines value? Two minds or more in agreement. If there is some eccentric billionaire out there buying pennies for a nickel each from homeless people, and nickels from poor folks for a quarter, what happens in the minds of the poor and homeless in terms of value? And if the middle class begins to save all their quarters because they heard that a non profit group supported by the richest man on earth (not bill gates) is buying them for $1.00 each, what happens to the value of the dollar? And as the dollar rises in direct proportion to the demand for it, what happens to all of the other 198 foreign currencies over a relative period of time? And what happens to corporations' currencies whose earnings do not reflect the increased future value of those captured dollars? So yes, NAS is an electronic trading place, where 90% of the companies will report earnings losses during the next few quarters, and whose shares still trade at values over 5x book value. Even though I see QQQ rising 20% from its 52 week low by the end of 2004, the current NAS still has some ways to go before it hits bottom...then start shorting the banks because they called in all that stock at 50% margins, and NAS is down more than 50% now, and then had to further dump the shares on the market to recoup their principal (forget the interest), and then you can watch the bond markets crater as the value of debt (individual, corporate, municipal and federal) becomes worth less, I didn't state worthless, I said worth less, because who wants to borrow money at 10% when the value of the dollars being paid back are rising 500% faster than the term of the loan? Analize that my friend and you see where the market is going right now for the next decade...
Founder: The Free and Clear Foundations of Earth, Chairman & CEO Penny King Productions, The Free and Clear Bancorporation, Senior Trustee; The Free and Clear Fund. www.iexchange.com top analyst!
Sell 500,000 shares daily nakedly and you'll make more money than hoping for it to rise like a Phoenix...It has a negative book value, something like (-1.04) per share, which means it will be some time before the creditors even get paid let alone stockholders, so it's probably a good one to short or sell naked if you are a market maker...see my report on this one at iexchange.com...they lost half a billion in one quarter...nice future tax shelter or loss carryforward for some billionaire waiting to pounce on it if they can use the shelter...like I can...
Founder: The Free and Clear Foundations of Earth, Chairman & CEO Penny King Productions, The Free and Clear Bancorporation, Senior Trustee; The Free and Clear Fund. www.iexchange.com top analyst!
I put all of the above on my list at iexchange.com except LAHA and NTSE. thanks for the tips...
Founder: The Free and Clear Foundations of Earth, Chairman & CEO Penny King Productions, The Free and Clear Bancorporation, Senior Trustee; The Free and Clear Fund. www.iexchange.com top analyst!
My picks are posted at iexchange.com. This board does not have as great a following. You can subscribe to my picks when you visit iexchange.com and look under "thepennyking". Been mostly shorting everything NASDAQ...waiting for all the bad news from the banking sector at the end of the year, then it will be bond dumping time, and then another round of interest rate cuts to try to prop up the economy, making a killing on shorting Yen and Euro, then shorting NASDAQ and then piling on the pennies, nickels and quarters... Nice to hear from you...
Founder: The Free and Clear Foundations of Earth, Chairman & CEO Penny King Productions, The Free and Clear Bancorporation, Senior Trustee; The Free and Clear Fund. www.iexchange.com top analyst!
About Penny King Holdings
Incorporated in Delaware on December 5, 2000
Authorized Shares 1500
Issued and outstanding 1000
Number of Shares being offered in Private Placement 500
$1000.00 per share.
Business: Acquiring other public companies.
Current Projects: Negotiations to acquire Logan Industries which has no assets, no liabilities and 2000+ stockholders.
Pro-Forma Balance Sheet: Master License Agreement for ThoughtWareTM valued at $50,000,000.00.
Shares of PKPI valued at $60 to $100 million US.
Founder: The Free and Clear Foundations of Earth, Chairman & CEO Penny King Productions, The Free and Clear Bancorporation, Senior Trustee; The Free and Clear Fund. www.iexchange.com top analyst!
Beating Wall Street Another Newsletter
<stocksrme@theglobe.com>
wrote:
> Date: 25 Sep 2000 02:47:03 -0000
> To: List Member <thepennyking@yahoo.com>
> From: "Beating Wall Street" <stocksrme@theglobe.com>
> Subject: Beating Wall Street Report
>
> Beating Wall Street -
> http://www.beatingwallstreet.com
>
> Hello,
> You are receiving this email because you have
> registered at
> beatingwallstreet.com
>
> The market got a jolt on Friday after Intel (INTC)
> warned of slower
> revenue growth and if it wasn't for the US unlocking
> oil reserves the
> market was done for. This week will be very
> interesting because the
> Friday could have been a head fake and the market
> could go lower to test
> the tolerance of investors. The market needs some
> goods news and the oil
> supply increase and the Euro intervention could be
> enough to give the
> market a boost early on this week. But the real
> news that will rule the
> market will be if there are any more earnings
> warnings and by who. This
> week is the end of the quarter and institutions will
> be trading heavily in
> the market to "window trim" their portfolios.
>
> We have made several changes in our recommendations
> and some of the
> noticeable include Starmedia (STRM) being moved to
> our Long Term list.
> The company has tried its hardest to get the stock
> price back on track and
> shareholders can't complain. The company will be
> profitable and the stock
> is very cheap at these prices. We have dropped full
> coverage of World
> Access (WAXS). The company has a good growth rate,
> but it seems that
> acquisitions are hurting the stock price and will
> continue to prevent the
> stock from going higher. Management is taking steps
> to deal with the
> situation but more needs to be down. We were very
> surprised of the buying
> in Brocade Comm. (BRCD) this week that the stock hit
> out very bullish
> price target set back at the beginning of the year.
> We have raised our
> target, but very conservatively, for the time being.
>
>
> Two stocks that we continue to pound the table on
> are Lucent (LU) and
> WorldCom (WCOM). Both companies have seen their
> stocks hit new lows even
> though the company isn't in that kind of a bad
> situation. Lucent will
> recover from supply problems and WCOM will show that
> earnings will
> continue to grow.
>
> Regards,
> Hamed Khorsand
> Beating Wall Street, Inc.
>
>
>
______________________________________________________________________
> To unsubscribe, write to
> stocksrme-unsubscribe@listbot.com
>
> ---------------------------------------------------
> Advertisement:
>
> New Customers at Vitamins.com get a FREE bottle of
> St. John's Wort
> and take $10 off your first order of $10.01 or more!
> Just enter the
> discount code SAINTJ at checkout to get your free
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> http://www.bcentral.com/listbot/HealthCentral
>
=====
Gabor Sandor Acs aka www.thepennyking.com. Visit www.iexchange.com and look up
"thepennyking" under "Search Analyst" for our latest stock picks and planned
mergers/acquisitions around the world. "God the Infinite does bless thee a
trillion times per second, think about this for a minute and know it as a
truth." Visit "thepennyking" at www.investorshub.com.
Founder: The Free and Clear Foundations of Earth, Chairman & CEO Penny King Productions, The Free and Clear Bancorporation, Senior Trustee; The Free and Clear Fund. www.iexchange.com top analyst!
An Interesting Newsletter from Cleartrade:
research@cleartrade.com wrote:
> Date: Sun, 24 Sep 2000 19:34:56 -0400
> To: thepennyking@yahoo.com
> From: research@cleartrade.com
> Subject: ClearTrade Commodity Newsletter 09/24/00
>
> To STOP receiving our periodic mailings just reply
> to this message, adding REMOVE to the subject line
> This newsletter was mailed to thepennyking@yahoo.com
> Please include this address with a Remove request
>
>
> YOU MAY RECIEVE MULTIPLE
> COPIES
> OF OUR NEWSLETTER. WE
> APOLOGIZE
> FOR THE INCONVENIENCE.
>
> ******************************************
> CLEARTRADE COMMODITIES
> PROACTIVE WEEKLY
> NEWSLETTER
> SEPTEMBER 24 ,2000
>
> ******************************************
>
>
>
> Contents: [scroll down for details]
> -------------------
> WELCOME TO CLEARTRADE WEEKLY NEWSLETTER
> =================================================
> TECH TALK
> =================================================
> HEARD ON STREET
> =================================================
> WEEKLY TRADING FOCUS
> =================================================
> STRATEGY CENTER
> =================================================
> SEASONAL TENDENCIES FOR SOME COMMODITIES
> =================================================
> FUTURES FUNDAMENTALS-
> From Optima Investment Research
> =================================================
> *** SPECIAL OFFER ***
> Daily Recommendations FREE Trial
> http://cleartrade.com/visitor.htm#signup
> ***************************************************
>
> WHAT WOULD YOU LIKE TO READ ABOUT?
> We welcome your comments and suggestions. Tell us
> what
> we can do to make this eNewsletter more useful for
> you.
> Send your feedback to: sjoss@cleartrade.com
>
> ==================================================
> WELCOME TO CLEARTRADE WEEKLY NEWSLETTER
> ==================================================
>
> Our goal is to provide up to date information, recap
> the past week's news and technical events preparing
> for Mondays trading. ClearTrade Veteran Traders will
> prepare technical Analysis in selected market groups
> when opportunity presents itself. We at ClearTrade
> hope Traders find our new web site unique in it's
> structure a " Total Traders Resource". ClearTrade
> strives to provide tools to help Traders make
> logical decisions in order to spot the best
> opportunities to make money.
>
> ====================================================
> TECH TALK BY SCOTT R. JOSS **(C.T.A)
> ====================================================
>
> UPDATE: LOSS ACCEPTED
>
> CRUDE OIL:
>
> Crude Oil November 3100 puts were bought by
> ClearTrade clients at .62 ($620)on 9/7/00 with a
> stop out of .32 (risk of $300).
>
> The puts on 9/14/00 had reached a high of 1.12
> (potential profit of $500) before reversing this
> week and reaching a low of .30. ClearTrade's stops
> were activated at .33 for a loss of $290 on 9/21/00.
>
>
> This was a heartbreaker as the Crude Oil market and
> puts have since reversed with the decision of the
> administration to release reserves.
>
> As traders should remember 'discipline was
> maintained' on stop losses.
>
> CRUDE CHART:
> http://www.cleartrade.com/c_energies.htm
>
>
--------------------------------------------------------
> UPDATE: PROFITS TAKEN
>
> MARCH SUGAR:
>
> As described in last week's newsletter, ClearTrade
> was looking to establish a further short position in
> the Sugar market. We were correlating selling March
> Sugar when the October reached near the 9.94 level.
>
> On 9/19/00 near the close, ClearTrade established
> short positions at 9.72 in March Sugar with a stop
> at 10.25 (risk of $593.60)-- with a target of 9.07.
>
> On 9/20 Sugar opened lower and pushed down to first
> support of 9.30. Clients were contacted and profits
> were taken at the 9.32 levels.
>
> On 9/21/00 Sugar opened lower again and pushed down
> to our objective trading 9.00.
>
> SUGAR CHART: http://www.cleartrade.com/c_softs.htm
>
>
---------------------------------------------------------
> UPDATE: PROFITS TAKEN - ESTABLISHING NEW POSITIONS
>
> DECEMBER US 30 YR. BONDS:
>
> In our last newsletter, ClearTrade described the
> TRIPLE match of a sell in the Bonds. On 9/14/00 a
> daily sell signal at 99'21 was given and a weekly
> sell signal at 99'24 was given, prompting ClearTrade
> to sell futures at 99'22 - taking profits at 99'12
> ($312.50).
>
> Once 99'02 was penetrated, clients were contacted to
> buy 99'00 puts at .63 ($984.37) and 98'00 puts at
> .39 ($609.37).
>
> On 9/15/00 the Bonds gave a monthly sell signal
> where ClearTrade added on to its client's positions,
> buying 98'00 puts at .56 ($875).
>
> ClearTrade's first objective of 97'21 was fulfilled
> on 9/18/00 and profits were taken.
>
> STRATEGY:
>
> ClearTrade's second objective will be 96'07 as long
> as the Bonds continue
> to CLOSE below the monthly sell signal of 98'13.
> Look to establish a 97'00 November put position if
> this situation continues.
>
> TREASURY BOND CHART:
> http://www.cleartrade.com/c_financials.htm
>
>
------------------------------------------------------
> UPDATE: POSITIONS ESTABLISHED
>
> NOVEMBER SOYBEANS:
>
> ClearTrade was waiting to see if the 481.00 -
> measuring gap described in the last few newsletters
> would hold. The key to the Soybean market is holding
> and not filling this most important gap -- in order
> to complete it's upside projection of 524.00.
>
> If Soybeans fill the 481.00 gap, ClearTrade is
> prepared to sell futures and purchase November
> 475.00 puts, placing our stops above 485.00 - an
> objective of 463.00.
>
> If Soybeans hold the 481.00 gap, the original
> objective 524.00 still holds true.
>
> ClearTrade waited for two consecutive daily
> Recommendation buy signals on 9/20/00 (488.25) and
> 9/22/00 (495.50) to purchase November 500 Soybean
> calls at 12.75 cents ($637.50) with a stop loss
> correlating to the November Soybeans filling the
> 481.00 gap below.
>
> The currency intervention in Europe early Friday
> morning set in motion a
> round of buying in grains and metals based on the
> idea that this represented a major change in the
> fundamental picture. Demand will be better and
> carrying costs cheaper with the US dollar off the
> highs of the recent months. Support also came from
> forecasts for a freeze next week in the northwest
> U.S. soybean belt, along with ongoing reports of
> disappointing yields on some early-harvested fields.
>
>
> SOYBEAN CHART:
> http://www.cleartrade.com/c_grains.htm
>
>
------------------------------------------------------
> UPDATE: PROFITS TAKEN
>
> FINANCIAL INDEXES:
>
> ClearTrade last week went out on a limb and
> expressed our opinion that 'the Financial Indexes'
> would come down hard this last week and challenge
> the monthly lows - which happened to be contract
> lows.
>
> What lead to this assumption was the early monthly
> buy signal September 1st, earnings reports (INTEL
> reported earnings warnings this last week) and a
> technical bearish saucer bottom at the top end of
> the daily
> charts.
>
> As Recommended in our Daily Trade Recommendation,
> ClearTrade clients were advised to sell the S & P
> EMINI on 9/20/00 at 1466.50 looking for monthly lows
> of 1445.25.
>
> FINANCIAL INDEXES CHARTS:
> http://www.cleartrade.com/c_financials.htm
>
>
-----------------------------------------------------
> UPDATE: POSITIONS ESTABLISHED
>
> DECEMBER SILVER:
>
>
> ClearTrade recommended clients establish a long
> position in Silver at 495.00 on the 9/22/00 Daily
> Recommendation.
>
> The Silver appears to be in a consolidation range
> between 486.50 to 575.00 on the weekly continuation
> charts.
>
> December 500 calls were purchased at 12-cents ($600)
> with a stop to correlate the breaking of the 486.50
> level.
>
> If Silver holds the 486.50 level ClearTrade will
> look for Silver to trade up to the 515.00 level
> before consolidating again.
>
> If Silver breaks below 486.50 ClearTrade will
> liquidate long positions and reverse to a short
> position and look for the 458.50 lows from 12/4/98
> and possible lows to 400.00, lows established on
> 7/25/97.
>
> SILVER CHART: http://www.cleartrade.com/c_metals.htm
>
> ----------------------------------------------------
> UPDATE: LOOKING TO RE-ESTABLISH SHORTS
>
> OCTOBER FEEDER CATTLE:
>
> ClearTrade will be looking at the 85.80 to 86.20
> levels for a possible short position. The market is
> trying to recover from the recent fall to the 84.12
> level from its Daily head and shoulders top. We
> expect Feeder Cattle to try and penetrate through
> the original neckline at 85.82.
>
> Shorts established in this sell zone 85.80 to 86.20
> will place stops above the gap of 86.65 established
> on 8/25/00.
>
> Our long-term objective still remains at the 83.00
> level.
>
> FEEDER CATTLE CHART:
> http://www.cleartrade.com/c_meats.htm
>
>
> ==================================================
> HEARD ON STREET
> ==================================================
>
> Intel Shares Plunge After Warning, Sparking Tech
> Sell-Off
>
>
http://www.futuresource.com/ce/www/htdocs/fswrap.shtml?s=fs2&c=30&aid=31927
> --------------------------------------------------
>
> US FX Review: Euro Trims Gains after Intervention
> Vaults It
>
>
http://www.futuresource.com/ce/www/htdocs/fswrap.shtml?s=fs2&c=33&aid=31957
> --------------------------------------------------
>
> Summers: US Policy Unchanged; Strong Dlr in National
> Interest
>
>
http://www.futuresource.com/ce/www/htdocs/fswrap.shtml?s=fs2&c=30&aid=31913
> --------------------------------------------------
>
> White House: Clinton Continuing to Review SPR Oil
> Release
>
>
http://www.futuresource.com/ce/www/htdocs/fswrap.shtml?s=fs2&c=30&aid=31909
> ---------------------------------------------------
>
> US grains-Trucks tight at harvest due to fuel
>
>
http://www.commods.reuters.com/news/grains/nN22620089.html
> ---------------------------------------------------
>
> CME traders call USDA hog data slightly bearish
>
>
http://www.commods.reuters.com/news/grains/nN22613102.html
> ---------------------------------------------------
>
> Wet weekend and a cooldown seen for U.S. Midwest
>
>
http://www.commods.reuters.com/news/grains/nN22618137.html
>
>
>
====================================================================
> WEEKLY TRADING FOCUS
> By Florida ClearTrade Senior Trader Raymond Franklin
>
>
====================================================================
>
> For the last few weeks I have been expecting a
> strong rally in the Swiss Franc which would most
> likely be triggered by falling Crude Oil prices.
> What I did not anticipate was both markets starting
> their moves based on government intervention.
> Therefore as we move forward you should expect
> extreme volatility while the Currency and Energy
> markets try to adjust to the uncertainty of
> intervention within a free market system.
>
> I believe Crude Oil was near completion of an
> important top, which would lead to a seasonal
> correction of about 15% or approximately $5 in the
> spot Crude Oil price. In the past tops were
> completed by a surprising API report showing an
> increase of 5 million barrels or more in Crude Oil
> inventory levels. A seasonal increase in Crude Oil
> inventory levels is normal for this time of the year
> and Fridays surprise announcement has the look of a
> political ploy to gain credit for something which a
> free market was about to accomplish on it's own.
>
> Sunday night Crude Oil should continue to sell-off
> and than gap down from it's 32.68 close for the
> November contract at the opening of trading Monday
> morning on the New York Mercantile exchange. If
> Crude Oil does not gap down Monday morning beware of
> a possible bear trap and a whipsaw rally back to new
> highs in the November contract.
>
> The Swiss Franc has probably made at least a short
> term low with Fridays intervention in the Euro
> Currency and Clinton's 30 million - barrel release
> of strategic oil reserves for the coming month. The
> one caveat would be if Crude Oil for whatever reason
> reverses back to the upside early next week. In the
> past the free market likes to test the resolve of
> central bank intervention with at least one retest
> of the previous lows. The question I have is whether
> the expected retest will come in the near term or
> sometime after the election. But in either case I
> believe Crude Oil will remain the key to currency
> price direction for the rest of the year.
>
> The price action for November Orange Juice last week
> increased the possibility of a sharp price drop in
> the near term. Please review our 9/10 newsletter for
> my initial comments on Orange Juice and why I would
> be a recommended buyer of November Orange Juice near
> 65 cents.
>
> October Feeder Cattle appears to close to the
> completion of a wave 4 formation which should lead
> to a 5th wave down to approximately 83 cents. My
> clients are already positioned with synthetic puts
> for a risk of $225 per contract and a breakeven
> point of 85.55. For the coming week I am
> recommending additional shorts on the October
> contract near 86.50 with stops placed above 87
> cents.
>
> The final market which I will focus on this week is
> December Cotton which appears to have a major double
> top formation in place from it's 5/25 and 8/29
> highs. A small gap left behind from 65.80 to 66.05
> in trading on 9/11 to 9/12 would be a very
> attractive selling area if reached. A more
> aggressive entry would be near 65 cents early in the
> week which would be near both the 20 day moving
> average and a 50% retracement from Friday's low to
> it's 8/29 high.
>
> As always if you have any questions concerning this
> weeks report or any other markets of interest call
> me, Ray Franklin at 877-442-8060.
>
>
===================================================================
> STRATEGY CENTER
> By Scott R. Joss **(CTA)
>
===================================================================
>
> A LOOK AT DAILY TRADING
> RECOMMENDATIONS
>
> Traders who receive ClearTrade's Daily
> Recommendations should not
> arbitrarily select and act on any one recommendation
> simply because it is listed as a `recommendation'.
> The decision to act should be based on a number of
> factors.
>
> The points that I consider (and what ALL traders
> should be thinking about) when reviewing a daily
> recommendation are:
>
> 1) Is the product in a heavily congested area on the
> daily charts?
>
> (Indicating shallow profits, or not taking the trade
> until the true direction is established by the
> weekly breakouts).
>
> 2) Where is the product on the weekly chart?
>
> (Is it near the weeks highs or lows where the
> probability of continuation is evident and might
> carry the product on to its monthly breakout).
>
> 3) Where is the product on the monthly chart?
>
> (Is it in the middle of the range - not yet
> determining a particular direction)?
>
> 4) What are the probabilities that the product will
> take `either side out' (highs or lows) of all the
> above?
>
> (Matching the daily, weekly and monthly breakouts is
> important in establishing a high 90% chance of
> momentum breakout in one direction or another)
>
> 5) Where are the support and resistance levels?
>
> (To determine the entry of the product, stop loss
> and objective - in hard numbers).
>
> When I speak with my clients each morning, I try to
> give them the flavor of the markets `in a capsule'.
> Recommending the trend direction -which will let
> them know if we are playing the buy side, sell side,
> either sides, or not acting on the recommendation at
> all.
>
> I try, in these weekly 'newsletters' and daily,
> weekly and monthly 'recommendations' (sent to all
> clients), to give a sense of direction - and to help
> the client to make a more `informed' decision in a
> risky environment. These items, in conjunction with
> the daily, weekly and monthly 'charts', will
> determine direction, risk and objective.
>
> I may initially think `all is well' matching the
> above in taking a position. However, I then pause to
> consider... `is the potential risk worth the
> reward'?
>
> This may seem overwhelming to some - but not to the
> professional trader. We, like doctors, have to keep
> calm in the face of chaos and must make a quick
> diagnosis and act decisively toward achieving a
> `cure'..... PROFITS.
>
> As traders know, Futures are fast moving and high
> leverage instruments that must be recalculated
> moment by moment - relaying direction, risk and
> objective to the client.
>
> Yes - there will be losses... but keeping them to
> minimum increases the trader's probability of strong
> gains which should outweigh the small losses.
>
> ==================================================
> SEASONAL TENDENCIES FOR SOME COMMODITIES
> ==================================================
>
> NOTE: LOOK AT THE SEPTEMBER SEASONALS - OCTOBER
> SEASONALS
>
> SOYBEANS:
>
>
http://www.site-by-site.com/usa/futures/noframes/charts/Grain%20Complex%20Future
s.htm#Soybeans
>
> ----------------------
> FEEDER CATTLE:
>
>
http://www.site-by-site.com/usa/futures/noframes/charts/Meat_Futures.htm#Feeder_
Cattle
>
> ---------------------
>
> SILVER:
>
>
http://www.site-by-site.com/usa/futures/noframes/charts/Metals_Futures.htm#Silve
r
>
>
>
===================================================================
>
===================================================================
>
> FUTURE
> FUNDAMENTALS
> MONDAY
> 9/25/00
>
>
====================================================================
>
====================================================================
>
> S&P 500
> US Stock Market -- The major US stock indexes last
> Friday gapped sharply lower on the opening and then
> spent the entire session rallying to finally settle
> mixed. US Stock Index Settles: US Stock Index
> Settles: Dow Industrials +81.85 at 10847.37; DJZ00
> +115 at 11,010; Dow Utilities +8.73 at 375.16; OEX
> -6.31 at 774.08; S&P 500 -.33 at 1448.72; SPZ00
> -1.00 at 1468.50; NASDAQ Composite -25.16 at
> 3803.71; Russell 2000 +4.46 at 518.81.
>
> The Russell 2000 and the Dow rose 0.9% and 0.8%,
> respectively, last Friday while the S&P 500 was
> essentially unchanged and the NASDAQ was down 0.7%.
> On a year-to-date basis, the Russell 2000 is up 2.8%
> while the rest of the major indexes remain in
> negative territory. The NASDAQ is down 6.5%, the Dow
> is off 5.7% and the S&P 500 is down 1.4%. The
> Wilshire 5000, an index of the entire US stock
> market, is down 1.0% for the year.
>
> Stock market breadth was only mildly bearish last
> Friday and pointed to strength in the broader
> market. Declining issues (1,518) led advancing
> issues (1,340) by a narrow 9 to 8 margin. Of the S&P
> 500's 87 sub-indexes, 58 rose while 28 fell. Of the
> 500 stocks in the index, 278 rose while 207 fell.
> Volume on the NYSE was very heavy at 1.167 billion
> shares with 50% of that volume occurring in
> declining shares.
>
> The main impetus behind last Friday's plunge in the
> US stock market was the surprise sales warning from
> Intel. Immediately after last Thursday's close, the
> company said that Q3 sales would fall short of
> forecasts due to weaker European demand. The company
> said that total Q3 sales would increase 3-5% q/q
> which was less than half of some estimates for 10%
> growth. European sales accounted for almost a
> quarter of total sales in Q2. Further bad news came
> in the form of a reduction in Intel's Q3 gross
> margin forecast. The company did not say whether or
> not it expected to meet the current consensus Q3
> earnings forecast of 41 cents per share.
>
> Investor reaction to the announcement was swift not
> just because of the disappointing news but also due
> to its timing. Just 1-1/2 weeks ago, Intel said that
> it was comfortable with sales projection made in
> July, the rosiest Q3 estimates made in five years.
> Institutional money, however, has been flowing out
> of the stock for months now according to an analysis
> of block trading volume and the announcement
> destroyed most of the remaining bullish sentiment
> that existed following the 17% slide in the 2-1/2
> weeks through last Thursday's close.
>
> The impact of the announcement sent the
> semiconductor stocks into a tailspin (the
> Philadelphia Semiconductor Index fell 5.9%) but the
> news also had a very negative impact on the rest of
> the technology sector as the warning provided
> confirmation to recent speculation that PC sales in
> general are slowing. That dragged down the computer
> stocks (Dell lost 5.3%) as well as the networking
> stocks (Lucent lost 5.2%). In addition, the impact
> was magnified by Intel's position as a bellwether
> technology issue with a market capitalization that
> still stands at $321.9 billion making it the fourth
> biggest component of the S&P 500.
>
> Intel's shares closed down 22.0% at 47-15/16 last
> Friday after posting a 7-1/2 month low of 46-1/2.
> Trading volume set an extraordinary one-day record
> of 308.3 million shares, shattering JDS Uniphase's
> previous record of 200.4 million shares from July 26
> and almost eight times Intel's average daily volume
> over the past month of 39 million shares.
>
> Additional bearish factors included (1) the recent
> rise in the benchmark 10-year Treasury note yield to
> a 2-month high, (2) the strong pace of Q3 earnings
> warnings which are running about 30% ahead of the
> number seen in Q2, (3) technical weakness with the
> S&P 500 and the NASDAQ both posting 1-1/2 month lows
> last Friday, (4) a sell-off in the heavily weighted
> oil stocks as crude prices sagged, and (5)
> expectations that earnings growth for the companies
> in the S&P 500 peaked in Q2 due in part to a
> slowdown in the US economy, the weak euro and
> surging energy costs which add to operating and
> product costs.
>
> Bullish factors: (1) the two day rally in the Dow
> led last Friday by Coca-Cola (+6.6%), Philip Morris
> (+4.2%), and Merck (+4.2%) as investors shifted
> money into stocks with more stable earnings, (2) the
> ability of the broader market to bounce solidly off
> its early lows last Friday, an indication of
> investors' willingness to go bargain hunting outside
> of the technology stocks, and (3) the rally in the
> euro after a round of coordinated intervention which
> may take some of the pressure off of US stocks with
> wide European exposure.
>
---------------------------------------------------------------------
>
> T-Bonds
> US Interest Rates -- Credit market continues to
> focus on effect of oil prices on the economy --
> December T-bonds last Friday edged higher in
> overnight trading and then tailed off through the US
> session to finally settle a bit stronger. Futures
> closes: USZ00 +0-02 at 98-05; TYZ00 +0-070 at
> 99-280; FVZ00 +0-040 at 100-105; TUZ00 +0-025 at
> 100-000; TBZ00 -.015 at 93.945; EDH01 +.0300 at
> 93.4450. Cash closes (3PM NY): cash 30-yr +0-10 at
> 104-23; cash 30-yr yield -.021 at 5.911; cash 10-yr
> +0-10 at 99-11; cash 10-yr yield -.043 at 5.838;
> cash 5-yr +0-05 at 103-11; cash 5-yr yield -.038 at
> 5.917; cash 2-yr +0-040 at 100-050; cash 2-yr yield
> -.036 at 6.052; 3-mo T-bill +.010 at 5.980.
>
> Dec T-bonds last Friday rebounded above last
> Thursday's 2-month low of 97-16 where the contract
> sold off by a total of 3-18/32 points from the
> contract high of 101-02 (9/1/00). The 30-year cash
> bond yield last Friday retreated from last
> Thursday's 2-1/2 month high of 5.981%. On that high
> the yield rebounded by a total of 34.8 bp from the
> 4-1/2 month low of 5.633% (9/1/00). March Euros last
> Friday edged to a new 10-month high of 93.495.
>
> Bullish factors: (1) the plunge in oil prices as the
> White House taps the Strategic Petroleum Reserve,
> (2) anticipation ahead of this week's buyback
> operation as last week's operation totaled $1.5
> billion, much larger than expected, (3) some
> short-covering, and (4) underlying optimism about
> Fed policy given ideas that the recent surge in
> energy prices may brake domestic demand.
>
> Bearish factors: (1) the bout of central bank
> intervention in support of the euro which gave rise
> to concerns about Treasury sales as the banks seek
> to raise dollars to sell in the forex market, (2)
> expectations that the Fed will retain its tightening
> bias at the October 3rd FOMC meeting, (3) underlying
> concerns about energy prices despite last Friday's
> sell-off, and (4) some technical weakness as the
> benchmark bond yield held just below the 6% mark.
>
> The credit market this week will likely key off of
> the behavior of energy prices following last week's
> decision to tap the SPR, as well as the forex market
> following last Friday's bout of coordinated central
> bank intervention in support of the euro. Regarding
> oil prices, the Treasury curve recently responded to
> the surge in energy prices with the long-end selling
> off on inflation concerns and the short-end
> remaining strong on talk about damage to the
> economy. The market will continue to monitor whether
> oil prices will follow-through on the downside due
> to the White House decision to tap the SPR or
> whether the market will eventually consider that to
> be a drop in the bucket and push oil prices higher.
> Regarding economic reports, this week is light and
> the markets will mainly be looking ahead to next
> Monday's NAPM report and next Friday's unemployment
> report.
>
> In the meantime, the behavior of the fed funds
> futures curve continues to suggest that market
> expects the next Fed move to be an easing. The
> December contract last Friday settled at 93.525,
> thereby pointing to a 5.475% funds rate, or a steady
> Fed policy through year-end. However, the April
> contract closed at 93.620, thereby pointing to a
> 6.38% funds rate, or about a 40% chance of a 25 bp
> easing by the end of Q1.
>
--------------------------------------------------------------------
>
> Currencies
> Forex -- Euro/dollar rockets higher as central banks
> intervene -- The dollar last Friday edged lower in
> Asian trading and then plunged as the G7 central
> banks joined the ECB in a bout of coordinated
> intervention in support of the euro. However, the
> dollar retraced about half of those losses through
> the remainder of the day to finally settle sharply
> weaker. Dollar closes (3PM NY): cash dollar index
> -1.82 at 113.47; dlr/yen +1.37 at 108.03; dlr/Swiss
> -.0359 at 1.7297; stlg/dlr +.0230 at 1.4591; USD/CAD
> +.0024 at 1.4889. Euro closes: euro/dlr +.0208 at
> .8788; euro/yen +3.48 at 94.99; euro/Swiss +.0060 at
> 1.5212. Futures closes: DXZ00 -1.66 at 113.34; JYZ00
> -.0125 at .9388; ECZ00 +.02070 at .88260; SFZ00
> +.0116 at .5822; BPZ00 +.0226 at 1.4608; CDZ00
> -.0010 at .6729; ADZ00 +.0000 at .5436.
>
> The dlr/yen last Friday surged to a new 1-month high
> of 108.14 yen where it rebounded by 3.37 yen from
> the 2-1/2 month low of 104.77 (9/7/00) yen. The
> euro/dlr last Friday raced to a new 3-week high of
> 89.92 cents where it rebounded by a total of 5.48
> cents from last Wednesday's record-low mark of 84.44
> cents.
>
> Bearish factors: centered on (1) the surprise bout
> of coordinated central bank intervention in support
> of the euro, (2) short-covering in the euro/dollar
> which climbed to a 3-week high, (3) underlying
> concerns about America's gaping current account
> deficit and the heavy outflow of dollars from the US
> which was put on display by the US trade report
> release last week, and (4) the mixed performance in
> the US stock market.
>
> Bullish factors: (1) long-term technical weakness in
> the euro/dollar which posted a new all-time low last
> Wednesday, (2) some technical buying in the
> dollar/yen which climbed to a new 1-month high of
> 108.14 yen.
>
> In a watershed event last Friday, the ECB led a bout
> of coordinated central bank intervention in support
> of the ailing euro. The ECB acted alone among
> European central banks (the Bundesbank, Bank of
> France, Bank of Italy and other EU-11 state banks
> acted on behalf of the Bank of Japan), and was
> joined by the Bank of Canada, the Bank of England,
> and most importantly, the Fed.
>
> Last Friday marked the first time the US intervened
> in the forex market in more than 2 years, since it
> sold $833 million for yen on June 17, 1998. In a
> joint statement, the ECB said that joint
> intervention was needed due to the "shared concern
> of the potential implications of recent movements in
> the euro and the impact on the world economy."
>
> Clearly, the initial surge in the euro in reaction
> to the central bank purchases suggests that last
> Friday's intervention was somewhat successful. Now,
> the big challenge will be whether last Friday's
> rebound in the euro can stick. The early indications
> are somewhat disappointing as the euro tailed off
> steadily through the US session last Friday, finally
> settling about mid-way between the
> intervention-induced high of 89.92 cents and last
> Wednesday's record low of 84.44 cents.
>
> First, the forex markets will look for an aggressive
> communique out of the G7 meeting on Saturday in
> support of the euro. Secondly, the markets will be
> watchful about any further bout of coordinated
> intervention. The outlook on that score is a bit
> clouded.
>
> Treasury Secretary Summers told reporters last
> Friday that despite intervention to weaken the
> dollar, the US believes a strong dollar is in the
> "national interest." When questioned about those
> clashing beliefs, Mr. Summers refused to comment. He
> also refused to comment on whether the US was
> promised any quid pro quo from the ECB in exchange
> for intervention, such as promises to pursue more
> aggressive reforms of Europe's highly regulated
> labor and product markets. Lastly, he refused
> comment on just what the danger would be to the
> world economy from a weakening euro.
>
> In reality, the main reason that the Clinton
> Administration may have gone along with European
> intervention is that the weak euro is beginning to
> hurt US stocks. It may have been no coincidence that
> US cooperation in intervention came a day after
> Intel lost some $100 billion of market
> capitalization and dragged down the global high-tech
> sector in concert. A number of US stocks have shown
> weakness lately in response to the weak euro and
> lower European profits. In addition, the weak euro
> is putting upward pressure on European import prices
> and that is putting upward pressure on ECB interest
> rates. A weak US stock market is not the type of
> market activity that the Clinton administration
> wants to see ahead of the November elections.
>
> There are risks to the ECB and the euro after last
> Friday's intervention. If the euro simply sinks back
> to last week's lows, the ECB will again come under
> pressure to intervene again. However, assuming that
> last week's intervention and any further euro buying
> operations are sterilized, that is put back into the
> banking system through open market (refinancing)
> operations, the impact of the intervention may not
> stick.
>
> That is especially true since the main force behind
> the prolonged decline in the euro was not
> speculation, but capital flows. In 1999 some 145
> billion euros in capital exited the Euro Zone,
> followed by another 45 billion euros through the
> first half of this year. Moreover, as seen in data
> published by the Chicago Merc, speculators have been
> consistently betting (and losing) on the euro making
> a rebound. Position reports suggest that speculators
> have been relentlessly going long the euro, only to
> be burned by relentless capital flows out of the
> EU-11.
>
> Such flows will be very difficult to reverse through
> intervention alone. This is where the importance of
> pursuing structural reforms to Europe's labor and
> product markets are so important. While some reforms
> have been initiated, included aggressive tax cuts in
> Germany and somewhat aggressive tax cuts in France,
> the rush to cave into blockading truckers and other
> protestors over fuel prices, as well as French
> attempts to harmonize fuel taxes, only serve to
> undercut investor faith in the EU-11.
>
> Still, last Friday's bout of intervention did send a
> message to the markets. To speculators, it may have
> given the green light to go long the euro once
> again. To investors, it may have provided some
> relief to those market participants who were burned
> on the exchange rate on investments in the EU-11.
> Most importantly, it may signal to those on the
> sidelines that the exchange rate risk of holding
> euros has been substantially reduced.
>
---------------------------------------------------------------------
>
> Grains -- The grain complex was higher across the
> board last Friday. The sector continues to find some
> support from the belief that the grain markets are
> technically oversold. Early harvests have pointed to
> some unexpected damage to the soybean crop,
> exacerbated by reports last Friday of a possible
> early frost this week. The rally in the euro was
> also beneficial and improved the pricing of US grain
> products to European buyers. Price gains may be
> limited by the likelihood that farmers will still
> harvest record soybean and corn crops. December corn
> closed up 3-6 cents at a 2-week high settlement of
> 194-0 (+2.0%) as it rose to its highest level since
> posting a contract low of 185-4 on August 11.
> December wheat closed up 3-2 cents at 250-6 (+1.4%)
> after posting a new contract low of 246-0 last
> Thursday. November beans last Friday closed up 4-2
> cents at 496-0 (+1.0%) but remains below the recent
> 3-month high of 515-4 (Sep 5).
>
---------------------------------------------------------------------
>
> Metals -- December gold last Friday closed up $1.60
> at $275.10 (+0.6%) after first posting a 1-1/2 week
> high of $279.20. The contract posted a 1-year low of
> $272.30 last Wednesday and Thursday where it
> extended its 3-month downmove to a total of $31.20
> (10.3%). The gold market opened sharply higher last
> Friday morning in response to the plunge in S&P 500
> futures in Globex trading but the metal was unable
> to hold those gains and sold off for nearly the
> entire session. Further losses in the stock market
> are unlikely to lend the gold market any support.
> What strength there was present during last Friday's
> session was due more to the sell- off in the dollar.
>
>
----------------------------------------------------------------------
>
> Crude Oil
> Energy -- The November crude oil contract last
> Friday closed down $1.32 at a 1-1/2 week low
> settlement of $32.68 (-3.9%), bringing its two day
> loss to a total of 7.3%. On last Wednesday's
> contract high of $36.10, November crude oil was up
> $10.00 (+36.8%) from the July 31st 4-month low of
> $27.10. The all-time high on the weekly-nearest
> chart is $41.15 and that was posted on the eve of
> the Gulf War in 1990.
>
> Expectations that the Clinton Administration would
> release oil from the Strategic Petroleum Reserve
> continued to weigh on oil prices last Friday. After
> the close, those fears became a reality after Energy
> Secretary Bill Richardson announced that President
> Clinton had ordered the release of 30 million
> barrels of oil from the SPR, in line with what
> presidential candidate Al Gore had been calling for.
> The releases will take the form of a swap and will
> be replaced by the companies that take it at a
> premium. The Energy Department will start taking
> bids on Monday.
>
> Whether or not the release will cap oil prices
> remains to be seen. The additional oil was certainly
> factored into the market last Thursday and Friday
> and Monday's session may see an upward bounce. In
> addition, the release of 1 million barrels per day
> amounts to only about a tenth of the average daily
> US consumption rate. Finally, more crude oil on the
> market may do little to lower gasoline and heating
> oil prices, the prices that consumers care about
> most, since refineries are already operating near
> their highest capacity in a year and can do little
> to add more supply.
>
> Furthermore, there should be no doubt that the
> decision to tap the SPR was political in nature. It
> is no coincidence that the operation will wrap up in
> time for the November election. Moreover, the
> operation will have passed by the time the heating
> season in the Northeast (New York State) is in full
> swing.
>
----------------------------------------------------------------------
>
> Meats -- The meats complex was higher across the
> board last Friday with both cattle and hog prices
> ending at multi-week highs. Higher cash prices and a
> pick-up in demand after cattle hit a 1-year low in
> early September fueled last week's rebound in the
> December contract. So far, demand has been strong
> and prices have held up in the face of a
> cattle-on-feed herd that was almost 10% larger y/y
> through the start of September. October live cattle
> ended the session up .425 points at a 1-month high
> settlement of 68.325 (+0.7%). October lean hogs
> closed up .100 cents at a 1-1/2 month high
> settlement of 56.425 (+0.2%). February pork bellies
> settled up .350 cents at a 1-week high settlement of
> 63.400 (+0.6%) as the contract rebounded farther
> above last Tuesday's 5-month low of 60.400.
>
----------------------------------------------------------------------
>
> Softs -- The softs complex was mostly higher last
> Friday with the exception of the November orange
> juice contract which fell 2.20 points to close at
> 71.55 (-3.0%). The December coffee contract settled
> up .20 points at 78.00 (+0.3%) after posting a new
> contract low of 77.40. Coffee has been in an
> extensive downtrend for some time now with the
> latest leg down coming as Latin American countries
> harvest their crop. Coffee supplies in CSCE
> monitored warehouses have tripled so far this year
> to a 6-1/2 month high, sending the price of coffee
> to a 6-year low.
>
----------------------------------------------------------------------
> © Copyright 1982-2000, Optima Investment Research
> Inc.
>
> No responsibility is assumed for the use of this
> material and no express or implied warranties or
> guarantees are made. Facts, opinions and advice are
> current and are subject to change without notice.
> Nothing
Founder: The Free and Clear Foundations of Earth, Chairman & CEO Penny King Productions, The Free and Clear Bancorporation, Senior Trustee; The Free and Clear Fund. www.iexchange.com top analyst!
Taking a look at a couple of shells to use for vehicles to acquire some of these beaten down pink sheet and OTC stocks. Dawson Acquisition Corporation
(A Delaware State Corporation)
20,000,000
Common Shares Authorized
9,804,295
Shares Issued
963
Shareholders
$.001
Par Value
Assets
None
Liabilities
None
We will sell 7,843,436 shares representing 80% of all shares issued.
AGREEMENT FOR THE PURCHASE OF COMMON STOCK
AGREEMENT made this May 2, 2000, by and between the undersigned ("Shareholders") who are shareholders of DAWSON ACQ.CORP. ("DAWSON") and Colby Mfg. Inc. ("COLBY") is for the purpose of setting forth the terms and conditions upon which the Shareholders will sell to COLBY shares of DAWSON's common stock to be acquired by the Shareholders.
The information contained in the outline pages preceding this Agreement is part of and intended to be merged into and made a part of this Agreement.
In consideration of the mutual promises, covenants, and representations contained herein, THE PARTIES HERETO AGREE AS FOLLOWS:
ARTICLE I
SALE OF SECURITIES
Subject to the terms and conditions of this Agreement, the Shareholders agree to sell, and COLBY agrees to purchase 7,843,436 shares of the common stock of DAWSON for $( TBD ). The shares to be sold by each Shareholder and the consideration to be received by each Shareholders is reflected in the following table:
Shares Consideration
Shareholder to be sold to be received
Livingston Realty 2,200,000 $ ( TBD )
Morris Diamond 1,053,436 ( TBD )
Shirley Diamond 1,000,000 ( TBD )
Tramdot Development Corp. 1,500,000 ( TBD )
Southward Investments 1,400,000 ( TBD )
Rose Merzel 390,000 ( TBD )
Martin Osber 300,000 ( TBD )
Totals 7,843,436 $ ( TBD )
Each Shareholder hereby appoints Southward Investments L.L.C. to receive and hold all consideration received from COLBY for the sale of the shares described above.
Upon the execution of this Agreement, COLBY will tender a check in the amount of $4,500.00 to the Shareholders. This amount will be applied as an irrevocable performance deposit and will be applied at closing towards the payment of the shares described above.
ARTICLE II
REPRESENTATIONS AND WARRANTIES
The Shareholders, jointly and severally, represent and warrant to COLBY that the following shall be true and correct in all respects as of the closing (as defined in Article IV of this Agreement).
2.01 Organization. DAWSON is a corporation duly organized, validly existing, and in good standing under the laws of Delaware, has all necessary corporate powers to own properties and carry on a business, and is duly qualified to do business and is in good standing in Delaware. All actions taken by the Incorporators, Directors and/or shareholders of DAWSON have been valid and in accordance with the laws of the State of Delaware.
2.02 Capital. The authorized capital stock of DAWSON consists of 20,000,000 shares of common stock, $0.001 par value, of which 9,804,295 shares are issued and outstanding. All outstanding shares are fully paid and non-assessable, free of liens, encumbrances, options and legal or equitable rights of others not a party to this Agreement. At closing, there will be no outstanding subscriptions, options, rights, warrants, convertible securities, or other agreements or commitments obligating DAWSON to issue or to transfer from treasury any additional shares of its capital stock. None of the outstanding shares of DAWSON are subject to any stock restriction agreements. There are approximately 963 bonafide shareholders of DAWSON. All of such shareholders have valid title to such shares and acquired their shares in a lawful transaction and in accordance with Delaware corporate law. At least 80% of such shareholders each own at least 100 shares of DAWSON's common stock.
2.03 Financial Statements. Exhibit A to this Agreement includes the balance sheets of DAWSON as of April 10, 1999, and the related statements of income and retained earnings for the period then ended. The financial statements have been prepared in accordance with generally accepted accounting principles, consistently followed by DAWSON throughout the periods indicated and fairly present the financial position of DAWSON as of the date of the balance sheet included in the financial statements, and the results of its operations for the periods indicated.
2.04 Absence of Changes. Since April 10, 1999, there has not been any change in the financial condition or operations of DAWSON, except changes in the ordinary course of business, which changes have not in the aggregate been materially adverse.
2.05 Liabilities. DAWSON did not as of April 10, 1999 have any debt, liability, or obligation of any nature, whether accrued, absolute, contingent, or otherwise, and whether due or to become due, that is not reflected in DAWSON's balance sheet as of April 10, 1999. The Shareholders are not aware of any pending, threatened or asserted
claims, lawsuits or contingencies involving DAWSON or its common stock. There is no dispute of any kind between DAWSON and any third party, and no such dispute will exist at the closing of this Agreement. At closing, DAWSON will be free from any and all liabilities, liens, claims and/or commitments.
2.06 Tax Returns. Within the times and in the manner prescribed by law, DAWSON has filed all federal, state, and local tax returns, required by law and has paid all taxes, assessments, and penalties due and payable. The Internal Revenue Service has audited no federal income tax returns of DAWSON. The provision for taxes, if any, reflected in DAWSON's balance sheet as of April 10, 1999, is adequate for any and all federal, state, county, and local taxes for the period ending on the date of that balance sheet and for all prior periods, whether or not disputed. There are no present disputes as to taxes of any nature payable by DAWSON.
2.07 Ability to Carry Out Obligations. The Shareholders have the right, power, and authority to enter into, and perform their obligations under this Agreement. The execution and delivery of this Agreement by the Shareholders and the performance by the Shareholders of their obligations hereunder will not cause, constitute, or conflict with or result in (a) any breach or violation or any of the provisions of or constitute a default under any license, indenture, mortgage, charter, instrument, articles of incorporation, bylaw, or other agreement or instrument to which DAWSON or the Shareholders are a party, or by which they may be bound, nor will any consents or authorizations of any party other than those hereto be required, (b) an event that would cause DAWSON to be liable to any party, or (c) an event that would result in the creation or imposition of any lien, charge, or encumbrance on any asset of DAWSON or upon the securities of DAWSON to be acquired by COLBY.
2.08 Full Disclosure. None of representations and warranties made by the Shareholders, or in any certificate or memorandum furnished or to be furnished by the Shareholders, or on their behalf, contains or will contain any untrue statement of a material fact, or omit any material fact the omission of which would be misleading.
2.09 Contracts and Leases. DAWSON does not and has never carried on any business. DAWSON is not a party to any contract, agreement or lease. No person holds a power of attorney from DAWSON.
2.10 Compliance with Laws. DAWSON has complied with, and is not in violation of any federal, state, or local statute, law, and/or regulation pertaining to DAWSON. DAWSON has complied with all federal and state securities laws in connection with the offer, sale and distribution of its securities. At the time DAWSON filed its Form D with the Securities and Exchange Commission, DAWSON was entitled to use the exemption provided by Section 504 of the Securities and Exchange Commission relative to the exchange of its shares or any other transaction described in such Form D.
2.11 Litigation. DAWSON is not (and has not been) a party to any suit, action, arbitration, or legal, administrative, or other proceeding, or pending governmental investigation. To the best knowledge of the Shareholders, there is no basis for any such action or proceeding and no such action or proceeding is threatened against DAWSON. DAWSON is not subject to or in default with respect to any order, writ, injunction, or decree of any federal, state, local, or foreign court, department, agency, or instrumentality.
2.12 Conduct of Business. Prior to the closing, DAWSON shall conduct its business in the normal course, and shall not (without the prior written approval of COLBY) (a) sell, pledge, or assign any assets (b) amend its Articles of Incorporation or Bylaws, (c) declare dividends, redeem or sell stock or other securities, (d) incur any liabilities, (e) acquire or dispose of any assets, enter into any contract, guarantee obligations of any third party, or (f) enter into any other transaction.
2.13 Corporate Documents. Copies of each of the following documents, which are true, complete and correct in all material respects, will be attached to and made a part of this Agreement:
(i) Articles of Incorporation;
(ii) Bylaws;
(iii) Minutes of Shareholders Meetings;
(iv) Minutes of Directors Meetings;
(v) An Opinion Letter from our attorney attesting to the validity and condition of the Corporation
(vi) List of Officers and Directors;
(vii) List of Shareholders;
(viii) Copy of Form D filed with Securities and Exchange Commission;
(ix) Balance Sheet as of April 10, 1999, together with other financial statements described in Section 2.03;
(x) Secretary of State Filing Receipt stamped on the Certificate of Incorporation.
(xi) Copies of all federal and state income tax returns of DAWSON;
(xii) Stock certificate records of DAWSON and a current, accurate list of DAWSON shareholders;
(xiii) A copy of Form M-11 filed with the State of New York;
(xiv) A copy of Form U-2 filed with the State of New York;
2.14 Closing Documents. All minutes, consents or other documents pertaining to DAWSON to be delivered at closing shall be valid and in accordance with the laws of Delaware.
2.15 Title. The Shareholders have good and marketable title to all of the securities to be sold to COLBY pursuant to this Agreement. The securities to be sold to COLBY will be, at closing, free and clear of all liens, security interests, pledges, charges, claims or encumbrances of any kind. None of such Shares are or will be subject to any voting trust or agreement. No person holds or has the right to receive any proxy or similar instrument with respect to such shares. Except as provided in this Agreement, the Shareholders are not parties to any agreement that offers or grants to any person the right to purchase or acquire any of the securities to be sold to COLBY. There is no applicable local, state or federal law, rule, regulation, or decree that would, as a result of the purchase of the Shares by COLBY, impair, restrict or delay COLBY's voting rights with respect to the Shares.
ARTICLE III
INVESTMENT INTENT
COLBY agrees that the securities being acquired pursuant to this Agreement may be sold, pledged, assigned, hypothecate or otherwise transferred, with or without consideration ("Transfer") only pursuant to an effective registration statement under the Act, or pursuant to an exemption from registration under the Act, the availability of which is to be established to the satisfaction of DAWSON. COLBY agrees, prior to any Transfer, to give written notice to DAWSON expressing his desire to effect the Transfer and describing the proposed Transfer.
ARTICLE IV
CLOSING
The closing of this transaction will occur when all of the documents and/or consideration described below have been delivered. Unless the closing of this transaction takes place on or before June 30, 2000, then either party may terminate this Agreement. If this Agreement is terminated due to the failure of the Shareholders to provide the documents specified below, then all consideration paid by COLBY shall be returned to COLBY. If this Agreement is terminated by the Shareholders due to the failure of COLBY to provide the consideration specified below, then all amounts previously paid by COLBY will be forfeited to the Shareholders and COLBY will have no further liability to the Shareholders. As part of the closing, the following documents, in form reasonably acceptable to counsel to the parties, shall be delivered:
By the Shareholders:
A certificate or certificates for 7,843,436 shares of DAWSON's common stock, registered in the name of COLBY or its designees.
The resignation of all officers of DAWSON.
A Board of Directors resolution appointing COLBY's designees as directors of DAWSON.
The resignation of all the directors of DAWSON, except COLBY's designees, dated subsequent to the resolution described in D. above.
Certified financial statements of DAWSON, which shall include a balance sheet dated as of May 31, 2000 and statements of operations, stockholders' equity and cash flows for the twelve-month period then ended.
The financial statements of DAWSON shall be covered by a report of a certified public accountant. The accountant's report shall state that the accountant conducted his audit in accordance with generally accepted auditing standards, that his audit provided a reasonable basis for his opinion, and that in his opinion, the financial statements covered by the report present fairly, in all material respects, the financial position of DAWSON as of May 31, 2000, and the results of its operations and its cash flows for the twelve months ended May 31, 2000, in conformity with generally accepted accounting principles. Such report will not be qualified or limited in any respect.
The accountant reporting on such financial statements will submit proof to COLBY, on or before closing, that the accountant has a standard professional liability policy (which provides coverage for the audit report on DAWSON's financial statements) with policy limits of at least $1,000,000 for each occurrence or claim.
All of the business and corporate records of DAWSON, including but not limited to correspondence files, bank statements, checkbooks, savings account books, minutes of shareholder and directors meetings, financial statements, shareholder listings, stock transfer records, agreements and contracts.
H.) Such other minutes of DAWSON's shareholders or directors as may reasonably be required by COLBY.
By COLBY:
A.) A check in the amount of $( TBD ), representing the balance of the payment due for the 7,843,436 shares of DAWSON's common stock.
ARTICLE V
REMEDIES
5.01 Arbitration. Any controversy or claim arising out of, or relating to, this Agreement, or the making, performance, or interpretation thereof, shall be settled by arbitration in Rochester, New York in accordance with the Rules of the American Arbitration Association then existing, and judgment on the arbitration award may be entered in any court having jurisdiction over the subject matter of the controversy.
5.02 Termination. In addition to any other remedies, COLBY may on or before the closing date terminate this Agreement, without liability.
(i) If any bonafide action or proceeding shall be pending against the Shareholders or DAWSON on the closing date that could result in an unfavorable judgment, decree, or order that would prevent or make unlawful the carrying out of this Agreement or if any agency of the federal or of any state government shall have objected at or before the closing date to the acquisition of DAWSON's securities by COLBY or to any other action required by or in connection with this Agreement;
(ii) If at the Closing the Shareholders failed to do all things required to be completed pursuant to the terms of this agreement.
5.03 Indemnification. The Parties, jointly and severally agree to indemnify the other against all actual losses, damages and expenses caused by
(i) any material breach of this Agreement or any material misrepresentation contained herein or
(ii) any misstatement of a material fact or omission to state a material fact required to be stated herein or necessary to make the statements herein not misleading.
ARTICLE VI
MISCELLANEOUS
6.01 Captions and Headings. The Article and paragraph headings throughout this Agreement are for convenience and reference only, and shall in no way be deemed to define, limit, or add to the meaning of any provision of this Agreement.
6.02 No Oral Change. This Agreement and any provision hereof, may not be waived, changed, modified, or discharged orally, but only by an agreement in writing signed by the party against whom enforcement of any waiver, change, modification, or discharge is sought.
6.03 Non Waiver. Except as otherwise expressly provided herein, no waiver of any covenant, condition, or provision of this Agreement shall be deemed to have been made unless expressly in writing and signed by the party against whom such waiver is charged; and
(i) the failure of any party to insist in any one or more cases upon the performance of any of the provisions, covenants, or conditions of this Agreement or to exercise any option herein contained shall not be construed as a waiver or relinquishment for the future of any such provisions, covenants, or conditions,
The acceptance of performance of anything required by this Agreement to be performed with knowledge of the breach or failure of a covenant, condition, or provision hereof shall not be deemed a waiver of such breach or failure, and
no waiver by any party of one breach by another party shall be construed as a waiver with respect to any other or subsequent breach.
6.04 Time of Essence. Time is of the essence of this Agreement and of each and every provision hereof.
6.05 Entire Agreement. This Agreement contains the entire Agreement and understanding between the parties hereto, and supersedes all prior agreements and understandings.
6.06 Counterparts. This Agreement may be executed simultaneously in one or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.
6.07 Notices. All notices, requests, demands, and other communications under this Agreement shall be in writing and shall be deemed to have been duly given on the date of service if served personally on the party to whom notice is to be given, or on the third day after mailing if mailed to the party to whom notice is to be given, by first class mail, registered or certified, postage prepaid, and properly addressed as follows:
The Shareholders:
c/o Morris Diamond
Southward Investments
2541 Monroe Ave. Suite 301
Rochester, NY 14618
Colby:
Colby Mfg. Inc.
2323 Main Street
Erie, PA 99105
6.08 Binding Effect. This Agreement shall inure to and be binding upon the heirs, executors, personal representatives, successors and assigns of each of the parties to this Agreement.
6.09 Effect of Closing. All representations, warranties, covenants, and agreements of the parties contained in this Agreement, or in any instrument, certificate, opinion, or other writing provided for in it, shall be true and correct as of the closing and shall survive the closing of this Agreement.
6.10 Mutual Cooperation. The parties hereto shall cooperate with each other to achieve the purpose of this Agreement, and shall execute such other and further documents and take such other and further actions as may be necessary or convenient to effect the transaction described herein.
6.11 The Buyer hereby acknowledges that; with the exception of those certificates to be issued to the Buyer (or its nominee) hereunder and those to be retained by Sellers, no stock certificates have been issued to the other shareholders (a list of those entitled to same having been kept in book entry form). The Buyer further acknowledges its obligation to prepare and issue certificates to the shareholders in the names and amounts appearing on the shareholders list to be given to the Buyer at the closing.
AGREED AND ACCEPTED as of the date first above written.
________________________ ______________________
Colby Mfg. Inc. Morris Diamond
A. John Colby: President Shareholder
________________________ ______________________
Livingston Realty Shirley Diamond
Morris Diamond: President Shareholder
________________________ _______________________
Tramdot Development Corp. Rose Merzel
Shirley Diamond: President Shareholder
________________________ ________________________
Southward Investment Martin Osber
Morris Diamond: C.O.O. Shareholder
Exhibit A
Sample Financial Information
To the Board of Directors
Dawson Acquisition Corp.
2541 Monroe Ave. Suite 301
Rochester, New York 14618
Gentlemen:
I have compiled the accompanying balance sheet of Dawson Acquisition Corp. as of ___ / ___ / ___.
A compilation is limited to presenting in the form of financial statement information that is the representation of management. We have not audited or reviewed the financial statements and, accordingly, do not express an opinion or any other form of assurance on them.
______________________________
Accounting & Financial Service
Rochester, New York
Dated: __/__/____
Note:
(A fully audited and complete financial statement is provided at closing.)
SAMPLE BALANCE SHEET
DAWSON ACQUISITION CORP.
Date: ____ / ____ / ____
ASSETS
Cash .00
Accounts Receivable .00
Marketable Securities .00
Inventory .00
Organizational Expense 7,843.44
---------
Total Assets $7,843.44
LIABILITIES
Accounts Payable .00
Accrued Expense .00
Customer Deposits & Advances .00
---------
Total Liabilities .00
STOCKHOLDERS EQUITY
Common Stock $.001 par
Authorized: 20,000,000 Common Shares
Issued 7,843,436 $ 7,843.44
Additional paid in Capital .00
Retained Earnings .00
---------
Total Stockholder Investment $ 7,843.44
Here are simple profiles of three currently available shells. We have other properties with from as low as 350 to over 2000 shareholders. These are in active, non-reporting corporations.
Kelly Green Products Corporation
(A New York State Corporation)
20,000,000
Common Shares Authorized
13,781,635
Shares Issued
2032
Shareholders
$.001
Par Value
Assets
None
Liabilities
None
We will sell 11,025,308 common shares
Unbar Corporation
(A Delaware State Corporation)
20,000,000
Common Shares Authorized
11,461,150
Shares Issued
778
Shareholders
$.001
Par Value
Assets
None
Liabilities
None
We will sell 9,168,920 common shares
Link Services Ltd.
(A Delaware State Corporation)
20,000,000
Common Shares Authorized
7,032,108
Shares Issued
715
Shareholders
$.001
Par Value
Assets
None
Liabilities
None
We will sell 5,625,686 common shares
ALL SHELLS LISTED ARE SUBJECT TO PRIOR SALES
5/25/00
Gary Kolter
P.O.Box 607
Centerport, NY 11721-0695
Gary,
Thank you for the very interesting conversation this morning. Here is the information you requested. We at Southward Investments are looking forward to working with you as a new strategic partner.
Regards,
Steve Chapman
Dir. Mktg. & Strategic Partners
Southward Investments L.L.C.
2541 Monroe Ave. Suite 301
Rochester, NY 14618
(Monroe County)
Office Phone: 716-244-1840
Office Fax: 716-244-0053
Mr. Morris Diamond
Principal & COO
Equity investment contacts:
Rochester
Trillium Group L.L.C.
Dennis DeLeo – Partner
Office: 716-265-9144
Home office: 716-383-5680
NYC
Crescent Private Capital L.P.
Hugh O’Donnell – Admin V.P.
Office: 617-713-3511
SSP Capital Partners L.L.C.
Neil Powell – Managing Partner
Office: 212-455-4501
These people recently presented at a seminar hosted by the High Tech Business Council of Rochester (4/27) their focus is on private equity investment. Hope they can be of help.
Founder: The Free and Clear Foundations of Earth, Chairman & CEO Penny King Productions, The Free and Clear Bancorporation, Senior Trustee; The Free and Clear Fund. www.iexchange.com top analyst!
The acquisition of a public shell by reverse merger through the auspices of a Delaware Holding Company and references to Mr. Chapman recorded here for historical purposes: Steve,
Ok, I am having an associate in New York check these references and do some initial DD. I should have a report back within 7 days. If favorable we can move forward. We are setting aside $50,000 to cover expenses for this. Our legal counsel will need to review any draft merger agreement before we deposit the $5500 in escrow. We are also proceeding with establishing Penny King Holdings (USA) Ltd. in Delaware as a clean private company which will receive various assets from our resources outside the US. Looking forward to moving forward provided I receive a favorable report.
g!
--- Steve Chapman <chapman7@rochester.rr.com> wrote:
> My apologies for not getting this to you yesterday.
> I did send notice out to
> our references telling them that you may contact
> them regarding doing
> business with us. Here is the list as promised
>
> Accounting:
> Mr. Wm. (Bill) Friedman
> Rotenberg & Company LLP
> 500 First Federal Plaza
> Rochester, NY 14614
> 716-546-1158
> wfriedman@rotenbergllp.com
>
> Legal:
> Mr. Don Paradiso Esq.
> 2072 S. Military Trail / Suite 7
> West Palm Beach, FL 33415
> 561-967-7300
> Paradiso@ix.netcom.com
>
> Banking
> Ms Sandy Allen
> Fleet Bank
> Clover-Monroe Branch
> 2830 Monroe Ave.
> Rochester, NY 14618
> 716-473-4446
> (no email)
>
> Our Office:
> Mr. Morris ( Moe) Diamond COO
> Southward Investments L.L.C.
> 2541 Monroe Ave / Suite 301
> Rochester, NY 14618
> Office: 716-244-1840
> Fax: 716-244-0053
>
> Client:
> Mr. Alex Weily - President
> ATWEC Technologies Inc.
> 350 South Main St.
> Memphis, TN 38103-4208
> 901-525-0031
> alexwil@atwec.com
> [[ AGREEM~1.PDF : 4902 in winmail.dat ]]
>
> ATTACHMENT part 2 application/ms-tnef name=winmail.dat
Founder: The Free and Clear Foundations of Earth, Chairman & CEO Penny King Productions, The Free and Clear Bancorporation, Senior Trustee; The Free and Clear Fund. www.iexchange.com top analyst!
Yes and no, I found that, I went ahead and recommended GILTF at iexchange.com as I could not find any financial statements, or public reports (10K, 10Q etc) on KSAT. GILTF has been added to the acquisition list/accumulate 4.9%. Had a nice Chat with Diane at GILTF, and then got a call from Thompson Financial after that regarding our intentions... Going with GILTF rather than KSAT as they own a good chunk of KSAT and have the right to choose the Chairman...Thanks for the input...
Founder: The Free and Clear Foundations of Earth, Chairman & CEO Penny King Productions, The Free and Clear Bancorporation, Senior Trustee; The Free and Clear Fund. www.iexchange.com top analyst!
How do you figure?
Founder: The Free and Clear Foundations of Earth, Chairman & CEO Penny King Productions, The Free and Clear Bancorporation, Senior Trustee; The Free and Clear Fund. www.iexchange.com top analyst!
Automated Response from Microsft...From: <msft@microsoft.com> / Block address
Date: Sun, 3 Dec 2000 08:10:20 -0800
To: <thepennyking@yahoo.com>
Subject: RE: CST19857490ID - Tender Offer for MSFT
Add Addresses
Hello Mr. Gabor,Thank you for your interest in Microsoft. To find out
how to sumbit your investment proposal please call 425-703-9964 or send
your proposal to the following address:Corporate DevelopmentMicrosoft
CorporationOne Microsoft WayRedmond, WA 98052For your reference here is
a link to our publicly announced investments and
acquisitions:http://www.microsoft.com/msft/invest.htmThank you for contacting
Microsoft,Sincerely,Investor Relations Customer Support--- Original Message
---From: thepennyking@yahoo.comTo: msft@microsoft.comSent:
Sat Dec 2 17:21:39 PST 2000Subject: Tender Offer for MSFTTo: William
Gates, 44 Chairman and Chief Software Architect $639K -- Steven Ballmer, 44
Pres, CEO 634K -- Robert Herbold, 58 Exec. VP, COO 1.1M $57M William
Neukom, 58 Exec. VP, Law and Corp. Affairs -- -- John Connors, 41 Sr. VP
of Fin. and Admin., Gentlemen: We are interested in making a friendly
or unfriendly tender offer for all of the outstanding shares of MSFT at
what we believe to be a fair market value of $27 per share. We would be
pleased to present this plan of action to your Board of Directors face
to face, or at least discuss it over the phone. We are currently taking
steps to acquire up to 4.9% of MSFT's outstanding shares in the open
market. We are also planning to discuss our intent with other major
shareholders within the firm who would be supportive of our actions. When we
have accumulated enough shares, and obtained enough proxies, we shall
file the appropriate documents with the SEC. This is a planned cash
tender offer to all existing shareholders. We prefer to do this in a
friendly fashion, however, we are prepared to maximize shareholder value by
making certain changes within the company, once we have succeeded in
gaining a voice on certain matters. This letter is being made public via
press releases on the Internet and posted to our group of investors at
iexchange.com. We are here to build a free and clear society and see
your firm as simply a vehicle to such a destination in the future. If you
wish to discuss this please contact our Senior Trustee, Mr. Gabor
Sandor Acs at 240-683-8844, who will be representing us in this endeavor.
Who within your company, (ie. legal counsel) would be the contact person
to work with us on this project? We may provide a prospectus upon
connecting with the right personnel. Sincerely, Gabor Sandor Acs Chairman
and CEO, Penny King Productions, Inc. Chairman and CEO, The Free and
Clear Bancorporation Senior Trustee, The Free and Clear Foundations
Founder, The Free and Clear Society International Senior Advisor, The Free and
Clear Policy Institute Chairman Emeritus, The Bank Activities Reform
Commission ===== Gabor Sandor Acs aka www.thepennyking.com. Visit
www.iexchange.com, "thepennyking" under "Search Analyst". "God the Infinite
does bless thee a trillion times per second, think about this for a
minute and know it as a truth." Visit "thepennyking" at www.investorshub.com
or www.MutualMinds.com. "One world, interconnected. One currency,
mutually equally valued, without loss to Any One."
Founder: The Free and Clear Foundations of Earth, Chairman & CEO Penny King Productions, The Free and Clear Bancorporation, Senior Trustee; The Free and Clear Fund. www.iexchange.com top analyst!
Kevin Maloney sent an email to thepennyking stating that they are cutting all communications with him... period, end of story, end of interest in the company, nothing more to be said. Talk to me in a year and let me know how wise a move that was...
Founder: The Free and Clear Foundations of Earth, Chairman & CEO Penny King Productions, The Free and Clear Bancorporation, Senior Trustee; The Free and Clear Fund. www.iexchange.com top analyst!
Bernard, yeh they thought the Wright Brothers were crazy too...I'm not after fame really, don't need the fortune, but a vehicle to drive the global markets, now that is a fun game. If I had a trillion dollars, we would already be populating Mars and the price of real estate on Earth would shrink in half (supply and demand you know)...So let them think what they want, I've been called worse. (the devil three times in my life). And Jesus was crucified too, so what's new, ignorance causes pain, so I try to avoid ignorant people. And those who want to teach me, I listen to them, and those who want to learn from me, I share what I know, or think I know, even though sometimes I might think I know something when I find out later I was totally wrong. But yes, here's a nice strategy fleshed out lately in talks with various companies and CEO's and IR people. There are 5,000+ pink sheet companies, another 5000+ OTCBB companies, 10,000 plus NASDAQ companies and so forth up the line, and there are three major exchanges in the US and dozens of smaller exchanges, and then there's duplicate exchanges all over the planet. So the basic plan is to form a private virgin company in Delaware, grant it a license for ThoughtWareTM for the US market only, pump an additional $60 million in assets into it, and then merge it with a public shell. I'm looking over a dozen or so shells right now. Once the merger is complete, then the newly merged company will roll up a couple dozen or two or three of these pink sheet companies into one, so instead of having 24 companies with a penny per share book value, you've got one diversified company worth a quarter per share, plus a license for the hottest product of the new millennium, and an asset base (audited,plus a better revenue stream for beefing up the future growth of book value, plus less expenses. (The lawyers hate this idea by the way, it puts 24 lawyers out of work because by then you only need one good one.) By the way GLMC dropped 16% and I still can't reach those guys at CBQI, they are out to China or something. But I did have nice long conversations with Steve Chapman and Georgia Bard lately and a newer version of the consolidation prospectus will be ready by the end of the year. And anything with a market value out there that is trading over 3x book value will go down, and anything under 3x will rise to the occaision. It's as if the Federal Government one day decided to give the power to regulate the value of currency back to the people, and the people said, well, let's see, for the past 100 years we've had nothing but inflation from you federalies, and note issuers, and money changers, and market manipulators, and speculators, and we used to be able to buy a good loaf of bread for a nickel, but now it costs over $3.00, $5.00 if you live in Manhattan, and so we are taking charge of our money and we say that a penny is now worth a nickel, and you then have hundreds of thousands of homeless people scarfing up pennies on the streets, and chanting in front of the Federal Reserve Buildings in 12 major markets with the words "Show us the f...ing money!" And of course the media wants to ignore this event, but all of a sudden, before all these bankers know it, a penny actually goes up in value by 500% because some schmuck like me started buying pennies for a nickel from homeless people on the streets of Portland and Seattle a decade ago and never stopped spreading the word that money is just an idea backed by confidence of the people in the currency being used to exchange for goods and services. And what most investors don't realize these days is that debt becomes worth less as money is revalued and saved, and paper assets with speculative earnings projections become worth less as well. Anyway, to you my cousin I say this much, if a penny becomes worth a nickel in the eyes of the homeless in less than a decade, and a nickel becomes worth a quarter in the eyes of the poor in less than five years, and a quarter becomes worth a dollar in the eyes of the middle class in less than two years, and a dollar becomes worth a BENJIE (Ben Franklin $100 Bill) in less than a year, what is a company worth that is losing money quarter after quarter. If it took 100 years to inflate the global market with $600 trillion in debt, and only ten years to wake everyone up because of the Internet, then whoa, you better put your money away from debt ridden companies, and debt instruments, and so forth, because the prophesising has already lopped off $5 trillion in global market value in the US markets alone in the past 24 months, and they didn't name me Gabriel for nothin...sometimes us crazy people have such high IQs that ignorant people want to squelch it, but once you know the truth, you can only do one thing... continue being a willing slave, or set yourself and others free... Yeh, all these pink sheeted companies are vehicles without drivers, or at least most of them are asleep at the wheel. Most of them would be better off if they just asked all their investors to send in all their pennies and exchange them for stock, and the companies would show a 500% increase in book value right off the top. (This is called creative accounting under generally accepted accounting principals). Lord knows the government puts out a trillion pennies a year (they aren't even solid copper anymore if you've scraped one on the cement with your foot lately), they are made mostly out of nickel alloys, but a trillion pennies amongst 300 million people doesn't amount to a whole lot of spare change these days. So yeh, you've got this article in the constitution that says Congress shall regulate the value of money and so forth, and Congress gave it to the Fed Res, which is owned by 12 of the richest families, via their ownership in global banking giants, and you've got one hell of a game on your hands. So tell me you've got democracy when people can't even count the votes correctly, let alone be distracted from the truth...but what if one day the people all woke up and said, hey, wait a minute, you guys have been creating all this debt for the past 100 years, and companies have come and gone but you've got this incredible rigid system of debt and money creation that has unequally distributed the assets of this planet into the hands of 600 billionaires, 10,000 banks, controlled by the Fed, which is controlled indirectly by a few families at best, and there are still 500 million people on this planet that earn less than $1.00 per day...wasabe! So it's all about to change with this thing called technology, and the faster communication moves through the channels created for it, the quicker this $600 trillion in global debt will be converted into equity and equally divided amongst 6 billion humans...so then what will your net worth be couzin?
Founder: The Free and Clear Foundations of Earth, Chairman & CEO Penny King Productions, The Free and Clear Bancorporation, Senior Trustee; The Free and Clear Fund. www.iexchange.com top analyst!
FM, We had a very nice, long conversation this morning. He gives very good advice about reverse mergers. Just wondered since his ad appeared at the bottom of one of your posts. Looks like we might be doing some business in the near future on some exciting projects. 2001 looks like it will shape up to be one incredible year if you are in the right place at the right time. I see GLMC dropped 16% today. Wonder why?
Founder: The Free and Clear Foundations of Earth, Chairman & CEO Penny King Productions, The Free and Clear Bancorporation, Senior Trustee; The Free and Clear Fund. www.iexchange.com top analyst!
I couldn't find a thing on this company independently of their own web site and information.
Founder: The Free and Clear Foundations of Earth, Chairman & CEO Penny King Productions, The Free and Clear Bancorporation, Senior Trustee; The Free and Clear Fund. www.iexchange.com top analyst!
Do you recommend working with Southward Investments, ie buying a shell, injecting it with cash, and then using it to acquire some of these beaten down OTC companies? Do you know Steve Chapman? I think GLMC and CBQI would make a great merger deal. They key is finding MM's that don't trash your company for the sake of profit, but help build long term value. Figure there are 10,000 OTC companies out there right now suffering because of the shift in values.
Founder: The Free and Clear Foundations of Earth, Chairman & CEO Penny King Productions, The Free and Clear Bancorporation, Senior Trustee; The Free and Clear Fund. www.iexchange.com top analyst!
Keep up the good work. Keep up the documentation too... it will make the SEC's job much easier, and it will educate the public when the mainstream media seeks a new "big story" after this election coverage blows over. Have you seen the post on Cede & Co?
Founder: The Free and Clear Foundations of Earth, Chairman & CEO Penny King Productions, The Free and Clear Bancorporation, Senior Trustee; The Free and Clear Fund. www.iexchange.com top analyst!
Down MPTV
Founder: The Free and Clear Foundations of Earth, Chairman & CEO Penny King Productions, The Free and Clear Bancorporation, Senior Trustee; The Free and Clear Fund. www.iexchange.com top analyst!
Maybe they would like a loan to build an undersea resort. The company has 15K in the bank (perhaps) so they must plan on buying back the million shares at just under a penny per share. I've posted my position on this one at iexchange.com under "thepennyking"
Founder: The Free and Clear Foundations of Earth, Chairman & CEO Penny King Productions, The Free and Clear Bancorporation, Senior Trustee; The Free and Clear Fund. www.iexchange.com top analyst!
Down CCAA
Founder: The Free and Clear Foundations of Earth, Chairman & CEO Penny King Productions, The Free and Clear Bancorporation, Senior Trustee; The Free and Clear Fund. www.iexchange.com top analyst!
This offer has been reduced to three times net tangible book value as of November 1, 2000. The offer is open for 20 days.
Founder: The Free and Clear Foundations of Earth, Chairman & CEO Penny King Productions, The Free and Clear Bancorporation, Senior Trustee; The Free and Clear Fund, and Janitor for the Global Morass of Debt Instruments.
Perhaps you should start a board on this one. No one seems to know anything about this other than what you put here.
Founder: The Free and Clear Foundations of Earth, Chairman & CEO Penny King Productions, The Free and Clear Bancorporation, Senior Trustee; The Free and Clear Fund, and Janitor for the Global Morass of Debt Instruments.