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Congratulations! Perhaps 100 million investors in America will see this and decide to go on strike. Then what happens to the markets? Perhaps you are only touching the tip of the iceburg with these reports. On the other hand, I think it is perfectly legitimate for anyone to short stocks which are overinflated and highly overhyped or overvalued.
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.
Do you think it's just the OTC market this happens in? Boy, if so, you really don't know the money changing profession. I still have not heard from CBQI, and I have since been offering 3x book for companies, not 10X, since the value of the dollar seems to be getting better and better, while the value of speculation and promised earnings seems to be getting worse. Call me if you'd like to chat some time...Gabe 240-683-8844. I do respect what you have done in trying to clean up this industry, perhaps the best way is for every investor in the country (world) to go on strike, sell out all thier holdings back to the market makers, and let them eat all the fish they have fried.
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.
To: Board of Directors
Gentlemen:
We are interested in making a friendly or unfriendly tender offer for all of the outstanding shares of GX at what we believe to be a fair market value of $45.00 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 BMC'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 would be the contact person to work with us on this project? We can 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
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.
Never heard of them. Perhaps the attached will give you more detail on what "we" do. I do not recommend anyone pump and dump any stock, it just hurts everyone in the long run. What I do recommend is taking positions just under 13D reguirements and prompting management for consolidations which enhance shareholder value. I also recommend that anyone holding any stock valued greater than 3 times book value sell it, or short those that are trading at above these levels in light of the current market sentiment. 80% cash is a good portfolio allocation at this time in history. I appreciate your subtlety.
Gabor Sandor Acs
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.
Predicting it will find a buyout partner soon.
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.
Sorry, forgot what was so funny???
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.
Sorry, don't drink, but watch BMC. (NYSE).
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.
A fish that doesn't know what it's left fin is doing swims in circles, usually counterclockwise, making time seem like it lasts longer. I used to be a Banker, remember that? MPTV's package has been shopped all over, now they have another $15 million committed from some other "broker". I recommended shorting it when it was around .06 and it drifted below .03. I was offered 15 million shares @ 100 times book value. If they had me as their loan officer, they would already have the condo's (timeshares) built and occupied. The play was to buy NICM (ten times book), and then pump in the equity to loan to MPTV directly, but since the market has responded so nicely to our currency plays, we have shifted into paying only three times book for any company. And we define book as net tangible (real assets) without the accounting tricks, smoke and mirrors, and mumbo jumbo. The market is beginning to really take a good hard look at what is real and what is "generally accepted accounting principals". I've got thirty guys lined up to form partnerships to do 4.9% buy-ins, and then shake, rattle and roll the heads of these guys who think they can still create money out of thin air. Maloney was a real nice guy on the phone. Sounded like his newly built mountain home was coming along quite nicely. I didn't ask him to put out a press release. Whatever he's heard, it's straight from the horses mouth, or the other end. There are two sides to every coin. I don't really think Oxford is going to close any $52 million loan with MPTV any time soon, and if they do, great, MPTV will be that much more in debt, and 52 million is not enough to build what they want anyway, so it will go up and then it will go down...I caught it on the way down, and I've caught it on the way up. They could have sold me 5% of the company for $52 million, forget the loans, but a bunch of yahoos on Raging Bull threw a lot of Bull, I don't need shareholders like that... everyone has their own agenda...I know what mine is and I stick to it. How's the pub business?
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.
Take down two shells and call me in the morning!
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.
Reactions come from unthinking cells, of which you have over a trillion in your body, and with which you are either blessed, or cursed, every second, of every day. I am not of this world, or of this galaxy, so your reactions are triggered by the pull of the future which I weave through my Kingdom of Pen, an infinite universe which is superimposing itself on your little universe here at investorshub. Infinity times zero is still infinity not zero. We can debate this if you like as an arbitrary mathematical paradox. Sorry, I have been doing too much tantric energy excercises lately, I will be more careful with my posts, but you must admit, the light feels good, doesn't it? Sorry, I don't have a doctor, don't take pills, but if you read Stranger in a Strange Land, by Heinlein, you might Grok what I'm doing. If you need money, follow me at iexchange.com and then donate half your profits to the Free and Clear Foundations. If you don't get it, read "The Greatest Salesman on Earth" by Og Mandino. Or try "Think and Grow Rich" by Napolean Hill, there is a great chapter on doing more than just jacking off with your own personal sexual energy. And oh, if your kitchen is dirty, better clean up those billions of body mites that keep eating away at your skin... looked under a microscope lately?... you seem to be shedding some sheckels these past few weeks. I'm here to clean up the global debt mess that your grandfather(s) left us with. Take a deep breath, be three feet in back of your head, and try to tune in while I twitch my left testicle muscle and make the Euro drop another penny against the dollar tonight. Still, I bless you for I am blessed. And those who curse are cursed.
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.
$15.00 Per share cash tender offer letter sent to BMC:To: Paul Burke, 44
Chairman, CEO $667K
Benoit Pouliquen, 38
Pres, COO --
Kathleen Pepski
CFO --
Jon Dobson, 33
VP of HR, Gen. Counsel, Sec. 150K
Bradley Carlson, 35
Treasurer
Gentlemen:
We are interested in making a friendly or unfriendly tender offer for all of the outstanding shares of BMC Industries at what we believe to be a fair market value of $15.00 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 BMC'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.
Please have the appropriate contact person within the company contact our representative to work with us on this project as soon as possible.
Sincerely,
The Free and Clear Society International
On Behalf of
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 International Bank Activities Reform Commission
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.
Enlighten me for the love of God! Who are these many others?
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.
Excuse my total ignorance, what language is ROTFLMAO. Doesn't look Hungarian to me. And we are all Kings in some corner of the universe. What bizarre advice and comments are you refering to? I fancy only that money is backed by confidence, and the laws of supply and demand, and stocks are just another form of money, so FOOGEDBEASADAT HUEYEH money changer.
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.
Send my your list of 100 NYSE and NASDAQ watchers and watch what I do with them at iexchange. Gosh, I thought this was Pluto's Retreat. One mans fantasy is another man's dream. One man's dream can become an entire civilization's reality, it depends on the density of the masses. By the way, the prospectus was updated November 1, 2000. God these humanoids are slow. By the way, if you are holding any stocks trading higher than 3 times book after the election, time to sell. The value of hard money is going up, while the value of paper is going down. Ergo Korean auto maker going bankrupt. Ergo the next wave, ergo the Euro, the Yen, and if you ask me when, I will just hop on my light body and float into the next universe.
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.
NICM put out a press release that (someone) offered to buy the company for ten times book value. After talking to the President twice, who agreed to meet in Washington D.C. I got an email saying they were cutting off all communications with me... why I don't know. All I know is that the President didn't know that Oxford International, one of their wholly owned subsidiaries, had made a $50 million loan commitment to fund a hotel/resort casino for MPTV, which has about 1 billion shares outstanding and trades between a penny and a nickel per share on a nice curve, an easy 500% on your money if you catch the right swings in the day or week. TWA was a good bet, up 52% earlier today. Save your cash till after the election, then I'll give you some plays...
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.
Buybacks are a good thing, they increase book value for those who hold on, and those who sellout have simply lost confidence in the company, so if 1 million shares are bought back, that means that much confidence was lost. This company should trade its stock for MPTV and merge the two, which can be arranged...they are both in the same business.
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.
What's the new news?
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.
Gee, I'm surprised you wasted your own paper in printing it out. You can't burn an idea, even if you are from the Inquisition era and stuck in it! Sorry, you can't burn email documents too... Good investing... MSFT going up again...We all have our own styles of investing...By the way, that prospectus is old, background info, wait till you see the one that will be filed...guess you'll have to wait a while, or just watch edgar.
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.
Do you serve cheese with your whine? Keep an eye on ABUY and NICM. MutualMinds.com is merging with iexchange.com via InteractiveFunds.com. Cheers! Face your fear and buy it a beer!
Define personal attack, bashing and bickering??? Like let he/she who has not done this before stone me to death...I'm no messiah, so if you don't like my goals, plans, and methods, stop communicating with me...See you next time around...
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.
Do you serve cheese with your whine? Keep an eye on ABUY and NICM. MutualMinds.com is merging with iexchange.com via InteractiveFunds.com. Cheers! Face your fear and buy it a beer!
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.
Good luck with your nuts, save them for the winter, you'll need them to keep yourself warm...
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.
The Force is with you always...Cheers!
Obi Won Oh Be One Oh Be Infinity!
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.
Why don't I appoint you. Think you can handle it without violence? Sorry, I don't drink either...
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.
Yes, I agree with you, it's all going downhill from here. Having a great time watching the results and effect I create on you money changers, just like Jesus did...save your pennies my hostile distant cousin. I'm sure if you had a cross, you would crucify me, and I know you pack a few guns in that pub of yours, so I certainly will not be attending any of your private, third world parties. Sell everything or bleed to death on beer ulcers...Use the force Luke!
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.
You have email at smudge2@uswest.net. Good bottom fishing...
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.
Duh? ....
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.
You underestimate the power of truth!
The media has been wrong for 6 months and you still buy it? Save your pennies my dear distant cousin. You have not seen me yet.
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.
Yahoo, at ten times book value, is a $31.50 stock, you guys just don't get it do you? Copper for you paper, metal for your dreams, when your'e drowning in your debts, no one hears your screams... follow me at iexchange.com and my free and clear fund and you will avoid many margin calls if you have any...
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.
I personally do not own any shares in NICM or any other company I report on. I do have a nice friendly network of people (wealthy investors) who follow my advice and donate 50% of their profits to the Free and Clear Foundations who in turn help homeless, poor and middle class people like you get out of debt faster. If you would like an informational copy of the prospectus just email me at thepennyking@yahoo.com. You should have followed me on MPTV at iexchange.com...75% return in 22 days. Look forward to hearing from you and your many friends on this bulletin board. I find it a bit more professional than Raging Bull(s..t). There is nothing illigitimate about making an offer to buy any company, at any price, especially if you have the wherewithal, the guts, and the determination. My harshest critics, have been my most ardent followers. Bless you, but please, next time you sneeze, keep it to yourself. If you have not noticed lately, most every company I have contacted for a buyout offer has refused, and then collapsed. Wondering what ThoughtWareTM has to do with that? Ask for the prospectus and be ignorant no more my distant hostile cousin...
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.
MPTV report closed at iexchange.com 75% return in 22 days. Nuf said...but not enough done yet...
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.
Gold backed pennies aren't such a bad idea these days.
Perhaps you should sell all your paper assets and bid on some of my half baked half gold backed pennies at eBay. http://cgi.ebay.com/aw-cgi/eBayISAPI.dll?ViewItem&item=449203283 Never heard of this guy GoldPenny, was he from some James Bond movie or something? If you didn't ask me for any favors I didn't do you any. Duh?
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.
Subject: Re: Acqusition of ARMHY
To: gabor sandor acs <thepennyking@yahoo.com>
Date: Fri, 6 Oct 2000 10:06:45 +0100
Add Addresses
Dear Gabor
The best way for you to look at all our financial statements is on the
website at www.arm.com. They are all there going back a few years. As
for
ARM acquiring other companies we have a strategy that we adhere to and
already have our own financial advisors, but thank you for the offer.
I will try and contact Yahoo again, but as I have already said I cannot
be
responsible for their incorrect data. Perhaps you might like to let
them
know this as well, since you have found them to be misleading.
Regards
Cindy Boynton
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.
President K. Maloney has talked to "thepennyking" by phone. Meeting tentatively discussed, but not scheduled in Washington D.C. Reviewing documents. Didn't know details of subsidiary Oxford International funding committment of $52 million for MPTV. He is supposed to call thepennyking to establish appointment time in D.C. Large shareholder of NICA emailed "thepennyking" searching for answers to mysterious questions.
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.
President K. Maloney has talked to "thepennyking" by phone. Meeting tentatively discussed, but not scheduled in Washington D.C. Reviewing documents. Didn't know details of subsidiary Oxford International funding committment of $52 million for MPTV. He is supposed to call thepennyking to establish appointment time in D.C. Large shareholder of NICA emailed "thepennyking" searching for answers to mysterious questions.
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.
EDGAR Online's IPO SECrets Newsletter
Editor: Timothy Middleton, EDGAR Online Analyst
mailto:editor@edgar-online.com
***INSIDE THIS ISSUE
IPO QUESTION OF THE WEEK: Blank check offerings
IPO COLUMN OF THE WEEK: Off-the-Shelf IPO?
IPO COMPANY PROFILE: WH Energy Services, Inc.
IPO MIDWEEK UPDATE
COMPANIES MENTIONED IN THIS ISSUE
PEOPLE MENTIONED IN THIS ISSUE
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\-----------------------------------------------------------------/
----------------------------------------
***IPO QUESTION OF THE WEEK***
----------------------------------------
QUESTION: What is a "blank check offering"?
ANSWER: A blank check offering, also known as SEC Rule 419, is
an initial public offering of an early-stage company that has not
finalized the exact type of business it will run (or acquire). In
a blank check offering, investors are betting on the success of
the (usually seasoned) management team, more so than on the
company's proposed products or services. Because of their high
risk, so-called "blank check companies" are required to put
investors' funds into an escrow account.
----------------------------------------
***IPO COLUMN OF THE WEEK***
----------------------------------------
An Off-the-Shelf IPO?
Nope. Just looks that way
A raging controversy in the early 1980s, when interest rates were
soaring and bears ran the stock market, shelf registration of
securities today has become so infrequent as to be nearly forgotten.
So an IPO that's been kicking around the pre-public registration
process for years can be forgiven for being mistaken for a shelf
filing.
The looming initial offer of W-H Energy Services Inc. (see company
profile below) raised the question with investors who noted that
the deal was initiated in December of 1997 -- nearly three years
ago, which is 12 times as long as the three months usually allowed
for a deal to remain "live" with the SEC.
Adding fuel to the misconception was the fact that Rule 415, as
shelf registration is known inside the agency, was designed to
allow companies to delay the issuance of securities if markets
turned against them -- as they certainly did in the oil patch in
1998 and 1999.
But there the similarities end. "This is not a shelf registration,"
says Ernesto Bautista, vice president and corporate comptroller
of W-H Energy. Rather, it's a deal simply delayed, with the SEC's
permission.
Shelf registration was formally adopted by the SEC in 1983, when
interest rates were in double digits and could change significantly
in the six or so weeks it took a giant corporation like
General Electric GE to register an underwritten bond deal.
Rule 415 instead allows companies to register securities that can
be sold at will within two years, as long as it keeps meeting its
quarterly financial reporting requirements. Rule 415 basically
transformed bond issues from underwritings to trades, thus slashing
companies' costs.
And although stock as well as bonds and convertible securities can
be registered under Rule 415, the stock is rarely common. Usually
it is preferred -- that is, another debt instrument. To wit,
BFGoodrich Co. (GR) filed a shelf registration in May for up to
$500 million of senior unsecured debt and preferred stock.
BFGoodrich, according to an SEC spokesman, is the kind of company
covered by Rule 415 -- a "seasoned issuer." Though Goodrich has
since sold the brand to Michelin, the company's tires have been
around for generations.
Newly public companies, on the other hand, are typically the
opposite of "seasoned issuers." Most are wholly new enterprises,
with scant history as a publicly owned corporation. They don't
qualify for shelf registration, particularly since common stock
is what's ordinarily being sold in an IPO.
Such companies can exploit a rule that somewhat resembles a shelf
offering. This is a so-called "continuous offering" -- typically
a deal that couldn't find an underwriter, and therefore is sold
on a continuous or best-efforts basis.
The W-H Energy IPO is not a continuous offering. What happened,
Bautista says, is that the deal was twice postponed due to adverse
market conditions. Each time the SEC staff allowed it to be revived
by amending the original S-1 filing, rather than making a new one,
which would have required a fresh set of fees.
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or search by company name and state at
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\----------------------------------------------------------------/
----------------------------------------
***IPO COMPANY PROFILE***
----------------------------------------
W-H Energy Services Inc.
While high-technology IPOs are falling like ten-pins (See "IPOs on
Deck," below), a long-delayed offering from an energy company is
expected to begin trading this week.
Houston-based W-H Energy Services Inc., which proposes to trade
under the ticker WHES, is planning to sell 10 million shares for
between $16.50 and $18.50 a share. The lead underwriter is Credit
Suisse First Boston.
According to its preliminary prospectus filed Sept. 18,
http://www.edgar-online.com/secrets.asp?d=A-1051034-0000950129-00-004606
the company provides oilfield services offshore in the Gulf of
Mexico and in the North Sea, and onshore along the Gulf Coast.
It has three primary business lines: (a) drilling related products
and services, which include logging-while-drilling,
measurement-while-drilling, rental tools (including drill pipe),
downhole drilling motors and drilling fluids; (b) completion and
workover related products and services, which include cased-hole
wireline logging and perforating, polymers and specialty chemicals
and tubing; and (c) maintenance and safety related products and
services, which include integrated on-site cleaning and waste
management and safety equipment.
The company, whose customers include both major and independent
oil and natural gas companies, has 920 employees. For the six
months ended June 30, W-H reported revenue of $99.4 million, and
net income of $9.1 million.
W-H's deal was originally filed in December 1997. It was formally
postponed in July 1999, and revived in May with different members
of the underwriting syndicate. In July the proposed share price
was reduced and the number of shares being sold increased. In
September CS First Boston took over as lead underwriter, increased
the proposed share price from the $13 to $15 range, and cut the
number of shares from 12.5 million.
After the offering, W-H Energy will have 22.1 million shares
outstanding.
---------------------------------------
*** IPO MIDWEEK UPDATE FROM IPO EXPRESS***
----------------------------------------
IPOs on Deck
UTi Worldwide Inc. (UTIW) of Tortola, British Virgin Islands
http://www.edgar-online.com/ipoexpressn/company.asp?company=5073
EDGAR INSIGHT: UTi Worldwide Inc. filed Oct. 10 for an IPO. Bear
Stearns & Co. is the lead underwriter. The proposed offering is
expected to raise $80 million. The company is a non-asset based
supply-chain management business. The 6,106-employee company had
FY 2000 revenue of $707 million and a profit of $17.1 million.
The company will have 24.9 million post-offering shares outstanding.
Undone Deals
Velocity.com Inc (VCTY) of San Francisco, CA
http://www.edgar-online.com/ipoexpressn/company.asp?company=3885
EDGAR INSIGHT: Velocity.com Inc. filed Oct. 10 to withdraw its IPO.
Needham & Co. Inc. was the lead underwriter. The proposed offering
was expected to raise $51.8 million. The company is an application
service provider that develops software for health care-related
clinics. The 130-employee company had 1998 pro forma revenue of
$6.8 million and a loss of $6.6 million.
WebSideStory Inc. (WSSI) of San Diego, CA
http://www.edgar-online.com/ipoexpressn/company.asp?company=4579
EDGAR INSIGHT: WebSideStory Inc. filed Oct. 10 to postpone its
IPO. Lehman Brothers Inc. was the lead underwriter. The proposed
offering was expected to raise $45 million. The company is an
application service provider that delivers real-time web site and
user behavior information. The 103-employee company had revenue
in 1999 of $9.6 million and a loss of $1.4 million.
Auction-Sales.com Inc. (AUCT) of Newbury Park, CA
http://www.edgar-online.com/ipoexpressn/company.asp?company=4241
EDGAR INSIGHT: Auction-Sales.com Inc. filed Oct. 9 to postpone its
IPO. Westpark Capital Inc. was the lead underwriter. The proposed
offering was expected to raise $34.5 million. The company is an
Internet retailer and distributor offering merchandise through
business-to-business and business-to-person auctions. The
18-employee company had 1999 revenue of $3.9 million and a loss
of $1.1 million.
----------------------------------------
**VENTURE CAPITAL COMPANY PROFILE**
-----------------------------------------
In Friday's VC SECrets, Udayan Gupta introduces you to Eos
Biotechnology, a pioneer in genomics-based profiling vaccines.
"Done Deals," Udayan's new book about the history of the venture
capital industry, is now on sale:
http://www.amazon.com/exec/obidos/ASIN/0875849385/edgaronline
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**COMPANIES MENTIONED IN THIS ISSUE***
----------------------------------------
Auction-Sales.com Inc
Bear Stearns & Co
BFGoodrich Co
Credit Suisse First Boston
CS First Boston
General Electric
Lehman Brothers Inc
Needham & Co. Inc
UTi Worldwide Inc,
Velocity.com Inc
WebSideStory Inc
Westpark Capital Inc
W-H Energy Services Inc
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**PEOPLE MENTIONED IN THIS ISSUE***
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Bautista, Ernesto
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ABOUT THE EDITOR
----------------------------------------
IPO SECrets is edited by EDGAR Online Analyst, Timothy Middleton.
Timothy has covered business and financial topics for The Wall
Street Journal, The New York Times, Dow Jones News Service and
Crain's New York Business. Twice nominated for the Pulitzer Prize
in investigative journalism, his weekly business reports can be
heard on WCBS Radio and Microsoft MoneyCentral Radio.
For press, syndication, and advertising inquiries, contact
Group Publisher Hank Berkowitz at
mailto:hberkowitz@edgar-online.com
----------------------------------------
Copyright 2000, EDGAR Online, Inc.
http://www.edgar-online.com
----------------------------------------
DISCLAIMER: EDGAR Online's IPO SECrets contains observations of its
editor Timothy Middleton, a consultant of EDGAR Online and is for
informational purposes only. These statements and expressions are
the sole opinions of Mr. Middleton and EDGAR Online does not endorse
nor necessarily agree on such statements and expressions. Factual
statements in this report are made as of the date stated and are
subject to change without notice. Nothing contained herein shall be
deemed to be recommendations to buy, hold or sell securities nor
shall it purport to be a complete analysis of the companies mentioned.
While the information contained in this Report and the opinions
contained herein are based on sources believed to be reliable,
neither Mr. Middleton nor EDGAR Online have independently verified
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this Report. Accordingly, no representation or warranty, expressed
or implied, is made as to, and no reliance should be placed on, the
fairness, accuracy, completeness or correctness of the information
and opinions contained in this Report.
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.
email me at thepennyking@yahoo.com and I will send you a prospectus (background)...on the consolidation(s)...
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.
The telephone does not have a memory. The internet provides a record. When a company responds there are phone calls, but ultimately transactions of this nature must all be in writing.
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.
From: "Charles Scimeca" <charles@amerinetgroup.com>
To: <thepennyking@yahoo.com>
Subject: Your Tender Offer For OTC BB "ABUY"
Date: Tue, 3 Oct 2000 10:10:40 -0400
Garbor
I received your e mail. My telephone number is
561-998-3435. I would like to discuss your offer.
Thank You
Charles Scimeca
AmeriNet Group.com, 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, and Janitor for the Global Morass of Debt Instruments.
NICM reviewing proposals for merger/acquisition by 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, and Janitor for the Global Morass of Debt Instruments.
Dear bruce@cyberhotline.com: Re: Acquisition of SRUN
According to your company profile at yahoo.com SRUN has a book value of one penny per share. If you are interested in merging with another company in our portfolio at a value of ten times book value before your market cap drops below that level, please contact me by phone immediately.
Sincerely,
Gabor Sandor Acs
Penny King Holdings (USA) Ltd
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.