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Who approved Reverse split...the Board of directors
I read the supplemental Information issued April 24, 2014. "Reverse Splint"
"On March 21, 2014 the Company's Board of Directors voted in favor of a 1-for-2000 reverse stock split"
In the "Report for the three and nine Months Ended Feb. 28, 2014" issued April 7, 2014
It showed the Board of Directors consisted of
Vincent Brown..........Chairman of the Board
Dennis Mitrano.........Director
I usually post from my computer at home and present links for my claims. But right now I am on the road and posting with my iPad. I do not know how to cut-and-paste yet.
It appears only the Outstanding Shares were split
"The reverse stock split transaction consists of a 1-for-2,000 reverse split of the Company's outstanding common stock."
sthttp://www.otcmarkets.com/financialReportViewer?symbol=AXLXD&id=119193ock
So it looks like the A/S is still 8 Billion
AXLXD announced Reverse Split
http://www.otcmarkets.com/financialReportViewer?symbol=AXLXD&id=119193
.No need to worry about the company
Their business license expires next week
(I wonder if they have noticed)
Business License Exp: 4/30/2014
http://nvsos.gov/SOSEntitySearch/CorpDetails.aspx?lx8nvq=GxMpei%252bcW5URsoF2m9EV%252fw%253d%253d&nt7=0
Also there has been no notification post on this Sec of State website about a R/S.
Please post link to AUDITED financials
The Annual Report for FY 2013 contains UNAUDITED figures
"The Company's unaudited financial statements for its twelve months ended May 31, 2013 and 2012 are attached hereto and incorporated herein as part of the Company's Annual Company Information and Disclosure Statement and filed herewith at the end of this Report. They are prepared by Company management who, via qualifications and prior direct business experience have sufficient financial skills."
http://www.otcmarkets.com/financialReportViewer?symbol=AXLX&id=110889
The audited reports were promised ...
"The Company intends to file its full report for the six months ended November 30, 2013 through the SEC EDGAR reporting system before the end of March 2014, [b]including audited accounts for the previous two financial years as part of re-registering its common stock and returning to fully reporting status with the SEC."
http://ih.advfn.com/p.php?pid=nmona&article=61209089
They promised audited and , as far as I can find, failed to deliver.
I have another question
According to the Annual Report for FY 2012
http://www.otcmarkets.com/financialReportViewer?symbol=EVRM&id=109183
**Jonathan Sym had 364,569,365 shares of common stock restricted on 31 Dec 2012
From the Annual Report FY 2013
http://www.otcmarkets.com/financialReportViewer?symbol=EVRM&id=118893
19 Dec 2013 Sym donated 125,000,000 shares from his personal stock holdings (pg 4)
**Jonathan Sym had 348,597,276 shares of common stock restricted on 31 Dec 2013 (pg 7)
So, here's my math
364,569,365 on 31 Dec 2012
-125,000,000 on 19 Dec 2013
-------------
239,569,365 should be the balance on 19 Dec 2013
Sym had 348,597,276 shares on 31 Dec 2013
SO WHY THE DIFFERENCE ????
There is no report of Sym being issued more shares. (pg 4)
There is no report of Sym buying any more shares. (No Form 4)
Is this the sort of reporting we should expect from someone "who started his professional career as a Financial Consult with Merrill Lynch and Co" ?
Again, if anyone finds an error in this post, please let me know so I can correct my data. TIA
What gaps must be filled ? (eom)
He did not issued those shares
He donated them from his own stock holdigs, not from the company reserves
"Other: on 12/19/2013 Jonathan Sym donated 125,000,000 shares to Veterans Legal Services from his own stock holdings
in the Company."
But I still have problems with his stock numbers
This is from the 2012 Annual report
"No material rights attached to common or preferred stockholders. However, to maintain Service Disabled Veteran Owned Small Business (SDVOSB) designation E.Richard Weitzel and Jonathan Sym have anti- dilution on their shares to maintain a collective minimum of 52% ownership. This is required of all SDVOSB companies. As the Company’s current and foreseeable future clients are US government, federal and military agencies, this designation is imperative to the success of the Company."
Actually, they must maintain 51% of the O/S
The number of outstanding shares is 1,941,618,910, 51% is 990,225,641 shares.
(These O/S figures were the same in both the 2011 and the 2012 Annual Reports)
Jonathan Sym owns 348,597,726 shares of common stock (restricted)
and Weitzel owns 438,597,276 shares of common stock (restricted)
So you can see that although the have stripped Weitzel of all his offices and positions, he still holds a very large share of the company stock.
Together they own 787,195,002 shares of the Outstanding common stock (from the 2013 Annual Report)
This is only 40.54% of the O/S
This is from the 2011 Annual Report
"On October 3, 2011, 250M Shares of Restricted Common Stock was
issued to Principals Jonathan Sym and Richard Weitzel (125M
issued to each Party). This issuance was carried out by the Board
of Directors for maintaining the Company’s SDVOSB Status. As mentioned above, this designation allows the Company to pursue
certain set asides in federal contracting. This designation is
essential to the Company’s success. These shares are expensed
under “SDVOSB Maintenance,” found in the Company’s fourth
quarter 2011 financial statements."
So at that time ONLY Sym and Weitzel were the Disabled Veterans maintaning the SBVOSB status.
If they retire Weitzel's shares, they will not be able to legally maintain their SBVOSB status on Jonathan's shares alone. They would have to some very fancy footwork fix this. I for one would not like the company to just issue Richard's shares to Sym!
You may wish to compare the Annual Reports for 2011, 2012, and 2013.
The amount of information presented in each are worlds apart.
I do not understand why the company chose to file such different formats .
I will study these reports more to see what's happening to the company share structure.
It's late and I may have made some math errors. If I have PLEASE point them out so I can correct my data.
Good night.
He donated shares to the same group
in December 2012, only then about 40 million shares
http://www.otcmarkets.com/otciq/ajax/showNewsReleaseDocumentById.pdf?id=1626340218
Simple..No company..No financials. eom
I did scroll down
I'll make this post so the board can see the requird due dates for an OTC Pink Stock
Here is the pertinent part of that page (emphasis added).. (thanks for pointing me to the schedule)
"Ongoing Qualification:
1.For each Fiscal Quarter End, upload a Quarterly Report via www.OTCIQ.com within 45 days of the quarter end. (A separate quarterly report is not required for the 4th quarter.) The Quarterly Report should include:
Information in accordance with the OTC Pink Basic Disclosure Guidelines
Quarterly financial statements (Balance Sheet, Income Statement, Statement of Cash Flows, Notes to Financial Statements). Financial reports must be prepared according to U.S. GAAP, but are not required to be audited
No Audit Letter or Attorney Letter is required
2.For each Fiscal Year End, upload an Annual Report within 90 days of the fiscal year end. The Annual Report should include:
Information in accordance with the OTC Pink Basic Disclosure Guidelines
Annual financial statements (Balance Sheet, Income Statement, Statement of Cash Flows, Notes to Financial Statements, and Audit Letter, if the financial statements are audited). Financial reports must be prepared according to U.S. GAAP, but are not required to be audited
3.If financial reports are not audited by a PCAOB registered audit firm, upload an Attorney Letter via www.OTCIQ.com complying with the Attorney Letter Guidelines within 120 days of the fiscal year end.
Financial Report Timeline for Maintaining Current Information (FY 12/31 Filers)
Fiscal Period End Date ..Report Type .. Due Date
12/31/2013 Annual Report - 4/1/2014
Attorney Letter - 5/1/2014
3/31/2014 Quarterly Report - 5/15/2014
6/30/2014 Quarterly Report - 8/14/2014
9/30/2014 Quarterly Report - 11/14/2014
12/31/2014 Annual Report - 3/31/2015
Attorney Letter - 5/1/2015 "
If the report is going to be late, the company must file either a:
NT 10-Q which gives the an additional 5 calender days or
NT 10-K which gives them an additional 15 calender days
to file the required report.
Visit to Evolucia office
I was running several errands today and made a side trip to Evolucia. I was there at 10:30 AM.
There is still no signage, the parking lot still nice and clean since they redid it. It is not used very much IMO.
There was just 1 (one) automobile in the front parking lot...None on the side or the rear of the building.
The front doors were locked, the reception area was dark and I saw no one in the building. Just for the hellva it I checked the trash area..the dumpster was marvously clean..not one bit of trash anywhere.
Almost like a "ghost factory".
10-K Annual Report due today
http://www.otcmarkets.com/financialReportViewer?symbol=EVRM&id=118258
EVRM FY ends 12/31
http://www.otcmarkets.com/stock/EVRM/profile
1st qtr ends 31 March
10-Q 1st Quarter Report is due 45 days after March 31st (May 14)
Check last year's filing date (page of SEC filings)
http://www.otcmarkets.com/stock/ILED/filings
If I'm mistaken, please give me a link so I can check it out TIA
Well, someone spent $75 to paint the PPS
Brought us down 6.25% Thanks alot.
Please provide link(s) to reverse split
in the SEC filings.
You have mentioned them many times and I would like to read them myself.
TIA
Company Business License due to expire this month
Unless the company does something soon, its business license will expire April 30, 2014, just 22 days from now.
In that case, all the problems and worries being expressed on this board will mean nought
http://nvsos.gov/SOSEntitySearch/CorpDetails.aspx?lx8nvq=GxMpei%252bcW5URsoF2m9EV%252fw%253d%253d&nt7=0
Not quite as expected
I thought this was to be for a 6-month period.
Where are the last TWO YEARS OF AUDITED financies??
"The Company's unaudited financial statements for its three and nine months ended February 28, 2014 and 2013 are attached hereto and incorporated herein as part of the Company's Quarterly Company Information and Disclosure Statement and filed herewith at the end of this Report. They are prepared by Company management who, via qualifications and prior direct business experience have sufficient financial skills."
C. Beneficial Shareholders....
"Darjon Investments, Ltd.: 60% Beneficial Shareholder of Issuer
Address: 4 Cubes 1, Beacon South Quarter, Sandyford, Dublin 18, Ireland.
Vincent Browne: holds dispositive voting and investment control of DarjonAddress: c/o 4 Cubes 1, Beacon South Quarter, Sandyford, Dublin 18, Ireland."
Guess the open house is canceled
Got up, went out to get my Sarasota newspaper, expecting to see the Evoucia story in the Business Section.
But, oh no. It was the lead story on the front page above the fold.
I never did like it when companies filed a NT 10-K delaying the annual report. Just have to wait until the 15th to see all the bad news. Now I see a reason why none of the company executive officers bought any stock in the company.
Ernie Bilko had pointed out several signs things were not going well, but I choose not to put much stock in his opinions.
Ok, Ernie, you earned a "Told you so", damnit. Won't ask for his advise, but will pay attention to his opinions.
Well, look at the bright side. It's a beautiful day in Sarasota. It's 9 AM..its 69 deg, heading to 80 deg. The sun is shining in a bright blue sky with just the hint of a pleasent breeze. I am taking my wife out to breakfast, and then to the farmers market. My youngest daughter and her family are coming in from Michigan City this afternoon. Always makes me happy to have the grandkids visit.
So, my day is not a total loss. Usually a bright side somewhere.
Ernie..what was your other Sarasota scam?..eom
New rules apply to OTCQB tier
Evermedia is OTCPink
http://www.otcmarkets.com/stock/EVRM/company-info
OTCQB Fact Sheet (new rules) link:
http://www.otcmarkets.com/content/doc/otcqb-fact-sheet.pdf
New rules should not apply unless EVRM intends to upgrade
So with no need for a 0.01 minimum pps, I see no need for a reverse splint at this time.
Yes, I know. See msg 1948 yesterday. eom
Well, they filed the NT 10-K
http://www.sec.gov/Archives/edgar/data/1383006/000101376214000358/formnt10k.htm
Very Disappointed
They should have filed the 10-K yesterday.
If they could not, they should have filed the required NT 10-K.
I hope they at least file that report today.
Correct and timely filings seem to be a problem for them lately.
Today's pps seems to reflect other investors' disappointment also.
10-k will be filed April 15
From the company website
http://www.evolucia.com/news/
No..it's the 10-K Annual Report..eom
New Requirement for OTCQB Tier
Here's the entire PR
"Top News
US over-counter trading tightens reporting, other standards
Wed, Mar 26 16:15 PM EDT
NEW YORK, March 26 (Reuters) - OTC Markets, the operator of three U.S. over-the-counter equity markets, is rolling out tighter reporting standards and eligibility requirements for its venture-stage market to crack down on stock scams and bolster transparency, the company said on Wednesday.
On May 1 for its OTCQB market, OTC Markets will introduce a new minimum one-cent bid price requirement and will require the company's chief executive or chief financial officer to certify that its reporting obligations are current and that disclosures about shareholdings, officers and corporate profile are correct.
The bid requirement, in which stocks must have been quoted for at least 1 cent daily over a 30-day period or be dropped from the market, aims to ferret out companies that fall prey to dilutive stock fraud schemes and promotions, OTC Markets said.
OTC Markets also will charge a one-time $2,500 fee for new applicants and an annual $10,000 fee for companies trading on its markets.Foreign companies that are listed on a qualified stock exchange and are current in their U.S. reporting obligations will be allowed to trade on OTCQB, OTC Markets' middle-tier marketplace. In the past, they traded on the lowest "pink" tier.
On Tuesday, the two most actively traded stocks on OTC Markets on Tuesday were French dairy products maker Danone SA and Swiss pharmaceuticals Roche Holding AG .
Trading volume on OTC Markets was 20.1 billion shares on Tuesday, about three times that of all U.S. stock exchanges and other trading venues. But the value traded, $1.4 billion, paled in comparison with the $263.4 billion executed on the other exchanges and venues, data from BATS Global Markets showed. (Reporting by Herbert Lash)"
Did not mean to imply it would effect us now, but I hope we will not remain on the pinks forever.
I do not see anything in this PR about this being non-retroactive.
I think the new 1-cent minimum bid will apply to all stocks in the OTCQB tier
OK..Here's the entire PR
"Top News
US over-counter trading tightens reporting, other standards
Wed, Mar 26 16:15 PM EDT
NEW YORK, March 26 (Reuters) - OTC Markets, the operator of three U.S. over-the-counter equity markets, is rolling out tighter reporting standards and eligibility requirements for its venture-stage market to crack down on stock scams and bolster transparency, the company said on Wednesday.
On May 1 for its OTCQB market, OTC Markets will introduce a new minimum one-cent bid price requirement and will require the company's chief executive or chief financial officer to certify that its reporting obligations are current and that disclosures about shareholdings, officers and corporate profile are correct.
The bid requirement, in which stocks must have been quoted for at least 1 cent daily over a 30-day period or be dropped from the market, aims to ferret out companies that fall prey to dilutive stock fraud schemes and promotions, OTC Markets said.
OTC Markets also will charge a one-time $2,500 fee for new applicants and an annual $10,000 fee for companies trading on its markets.Foreign companies that are listed on a qualified stock exchange and are current in their U.S. reporting obligations will be allowed to trade on OTCQB, OTC Markets' middle-tier marketplace. In the past, they traded on the lowest "pink" tier.
On Tuesday, the two most actively traded stocks on OTC Markets on Tuesday were French dairy products maker Danone SA and Swiss pharmaceuticals Roche Holding AG .
Trading volume on OTC Markets was 20.1 billion shares on Tuesday, about three times that of all U.S. stock exchanges and other trading venues. But the value traded, $1.4 billion, paled in comparison with the $263.4 billion executed on the other exchanges and venues, data from BATS Global Markets showed. (Reporting by Herbert Lash)"
Did not mean to imply it would effect us now, but I hope we will not remainon the pinks forever.
I do not see anything in this PR about this being non-retroactive.
I think the new 1-cent minimum bid will apply to all stocks in the OTCQB tier
NEW OTCQB LOWER BID LIMIT !!!
"US over-counter trading tightens reporting, other standards coming in OTC market."
http://www.otcmarkets.com/home
Looks like a lot of reverse stock splints coming up !!
http://mobile.reuters.com/article/idUSL1N0MN13N20140326?irpc=932
Verified MNG's post !
Verified it by going to OTC home page and checking their latest news
http://www.otcmarkets.com/home
Looks like a lot of stock splints coming up !!
NEW OTCQB LOWER BID LIMIT !!!
Just got this off another board.
Verified it by going to OTC home page and checking their latest news
http://www.otcmarkets.com/home
Looks like a lot of stock splints coming up !!
http://mobile.reuters.com/article/idUSL1N0MN13N20140326?irpc=932
Gonna need a link for 35 day requirement
Just got this off the SEC site
http://www.sec.gov/answers/form10q.htm
Category of Filer Revised Deadlines For Filing Periodic Reports
Form 10-K Deadline Form 10-Q Deadline
Large Accelerated Filer......60 days..............40 days
($700MM or more)
Accelerated Filer..........75 days................40 days
($75MM or more and less than $700MM)
(less than $75MM)
Non-accelerated Filer....90 days................45 days
When I said Mel's performance was lacking
I was speaking of his poor public speaking delivery of his report... NOT of the presentation contents, nor of his performance as CEO.
The presentation was full of hesitations, mumbling, uncertainies in his dilvery, etc.
I had a old friend of mine, a retired profressor of Speech and Public Speaking at Kent State Uninversity in Ohio, listen to the talk and give me her opinion. She agreed with me.
We thought perhaps Mel could read aloud his presentation several times until it becomes second nature, so he would feel confident of his facts, would be able to stress the important aspects without hesitation. This would create a level of confidence with his audiance and hopefully inspire them.
Hell, we even said he could pratice the presentation in incremental recordings and then dub them together for an effective,cohesive performance.
Again, I did not mean to comment on the contents of his talk
I know the company has had some bad times in the past, bad management, had way overpromised and way under delivered.
I am hoping Mel meant what his said..it was taking him longer than he had expected to build a sucessful company but that it was coming together.
First, let's wait for the 10-K annual report to be released.
If its bad, it would be the time for some to bail and cut losses..
(With your attitude,I am surprised that you are still holding on . Why are you still here?)
I am going to wait for the Earth Day open house.
If the company can not announce new sales (of lighting products, NOT the memorial baseballs,) increased revenues,cuts in cost, then I will have to reconsider my position.
I hope I made sense here. I am very sleepy. I had to pick up a friend at the hospital emergency room at 4 AM this morning and have not recovered my missed sleep.
Good night.
Latest news
"New 2014 Communications Policy:
1. Quarterly Conference calls will be cancelled
2. Annual and Quarterly filings will be followed by a CEO Letter
3. Filing Dates will be posted on our Investor and News sections of the Website and other Social media communication channels
4. Investor inquiries should be directed to investors@evolucia.com"
http://www.evolucia.com/new-2014-communications-policy/
(1) That old Conferernce call policy did not last long.
That's ok. Mel's last performance was "lacking"
(4) But will investors@evolucia answer?
My last 3 have not.
Will try another another one tonight.
Now here's something I have been thinking about
I am wondering why there seems to be no stock holdings by the company's officers. I have checked the Form 4's for 2012 and 2013
None of the current officers ..CEO, COO, any of the executive VP's
various Directors of departments, etc, seem to hold any shares.
Mel, the CEO, has warrants/options to purchase stock at around 0.020 +/- range but there is no record of ANY purchases at all. Why wouldn't he buy stock at the current prices 0.0050..1/4 of the option some time in the future.
By the time he could exercise the options, he would have had a gain of 400% on these less costly buys!
The have been reports of several employees granted stock option/ warrants, but no Form 4's filed yet. Ergo, none of senior management has been granted options in this incentive program
In an earlier filing, the company said the granted options/warrents would be considered as owned stock.. To me this is BS.. If you cann't sell it, give it away or borrow on it, you don't own anything..
I would like to see senior management have more skin in this business.
"In the second quarter of 2012, the Company issued 25,000,000 shares to Thomas Siegfried, a director of the Company". They are held in a living trust of which he is the sole beneficiary and trustee..He does own shares.
What all the directors have are callable promissory notes bearing interest rates around 14% !!
In otherwords, anyone of us share holders hold more shares than 80% of the BOD.
Oh, by the way, why is it taking so long to find a new CFO..Oct 30 to present..almost 5 months. He resigned for "personal reasons". Yeah, he became the CEO of the newly acquired Affineon company on the east coast.
I would like to hear some comments on this (PLEASE, NO RANTS) or any mistakes or missreasdings by me.
go to it, fellows.
PS Last week I made 3 buys at the ask.
a possible offer to buy a baseball
see msg 1925
don't worry..it has nothing to do with the pps or a buy-out.
just kidding around.
I think I heard $29.00 or so (eom)
10-K due NLT 90 days after end FY
That means NLT 31 March...next Monday.
UNLESS they file a NT 10-K (Notification of Late Filing), which extends the due date no more than 15 calander days..15 March.
I have always considered a NT 10-K as a poor sign.
I hope its positive. Don't know what to expect.
I am hoping the Earth Day open house will be all good news. With all the guests and media invited, it had better be !
I had an offer to buy one of the baseballs. I turned it down. What possible use would I have for it.
My kids, grandkids and great-grandkids are all girls (except one grandson..he is on his high school's varsity track and swim teams, and is soon to be Eagle Scout). Sorry to sound sexist about it.., the little ones prefer fishing on Sarrasota Bay with their daddy on his boat.
As far as the baseballs, I suggest they give out a few as door prizes at the open house.
No 2nd Qtr report filed yet
News release from AXLX dtd 25 Feb 2014
http://www.axiologix.net/news.html
Axiologix issues guidance for second financial quarter; Q2 revenues above $400k over double the previous year
(The 2nd qtr above covers Sep - Nov 2013)
"The Company intends to file its full report for the six months ended November 30, 2013 through the SEC EDGAR reporting system before the end of March 2014, including audited accounts for the previous two financial years as part of re-registering its common stock and returning to full reporting status with the SEC."
Also
"Full quarter revenues from IWS will be included in the current quarter ending February 28, 2014 that is forecast to come in above $2.5 million for the quarter"
The above quarter is the company's 3rd quarter.
The company's FY ends May 31.
It sounds like the company will NOT have audited reports for Qtr 2 and 3. The PR only mentions "full audits for the financial years ended May 2013 and May 2012".
We will have to wait for the 6-month report sometime in the next 9 days before we will know for sure.
Star City Capital owns 7.99% AXLX common stock
This form is filed if someone owns 5% or more of a percentage of class of securities of the a company.
The reporting person must not have acquired the securities with any purpose, or with the effect of, changing or influencing the control of the issuer
I was wrong about the 800,000 shares.
As was pointed out by mixedup, post #23138, its 800,000,000
Do not accept errors in these messages.
I misspelled "errors" 3 times in this reply before I got it right.