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Would be nice to see EXTO bust a move this afternoon.
Now that EXTO's CE status has been corrected, we should be seeing a stream of PR's explaining the Company's business plan, along with a statement describing 4th Qtr, 2011 progress. Moving forward, it's up to Bayport's management and its IR team to get the word out about their company if they want to muster support for a rising pps. I would suggest they focus on attracting more long-term investors lest a hoard of flippers begin to exploit the Company by manipulating the pps for their immediate, but limited, gratification at the expense of long-term shareholders.
It was stated that there are 167 shareholders presently. Talk about flying below the radar! Within six months, if they play their cards right, Bayport could easily have 1,000 or more shareholders, many of whom will be willing to hold for much higher gains (.10+, perhaps, but just a guess).
EXTO is starting off 2012 on the right foot. Very organized and progressive -- just what we were hoping for. Can't wait to see this string of PR's that should push us well up into pennyland. If they can maintain this kind of professionalism, we are likely to see a multi-bagger over the next few months.
This paragraph was included in the 7/11/11 press release with the names of the Porters, Lou and Jim, shown at the bottom.
"In addition to mining, Bayport has many interests in Seafood with their Lobster Pounds in Maine, plus their shrimp and lobster sales outlet in Las Vegas, Nevada. Bayport has other specialty sea foods from Louisiana, Alaska and Ecuador. Information about these interests along with Bayport's mining historical and progress reports will be published on the company's website to include the company's organizational chart to reflect the variety of assets owned by Bayport Corporation. The company's website is currently under construction and will be available in the near future to keep shareholders updated."
I originally bought into this Company because it had a seafood division that was supposedly income producing. Why would a lawyer think to not include this division with the filings?
The Porters owe us an explanation of how and when the seafood division will be incorporated as part of Bayport. They should have made their intentions clear from the outset. Saying they wanted to keep the financials simple doesn't cut it. Bayport advertised all along that it had a seafood operation. How can they justify not including it now? How long will it be before the seafood division is shown to be a subsidiary of the parent company?
This needs to be cleared up right away by the Porters. Otherwise, they could be sued for misrepresentation.
We don't really know who will submit the filings, so there is still plenty of room for the Bayport bunglers to blow this simple task.
"Somebody misplaced the password."
"I didn't have all of the documents ready.
Some pages were missing."
"I didn't have the proper authorization to upload the filings."
"I thought you said you would take care of submitting the reports."
"I couldn't open the site."
"My computer caught a virus and crashed while I was logged on."
and on and on.
With this family-run business, anything that could possibly go wrong probably will.
Who is actually handling the mechanics of submitting the reports? This will be another opportunity for the Company to bungle the transmission of information to the various agencies and websites they must deal with.
Based on the PR's they approved for release just before the black out began, I would have to say that, at the time, management hardly knew what was best for this Company. In fact, it is over the past four months that they have been schooled in how a listed company should be run. Hopefully, the days of "ride 'em, cowboy" are over and, in 2012, a new image of professionalism will replace the Wild West Show.
My advice to the Porters is that they focus on day to day operations to produce revenues, control costs and increase earnings. Let Briggs Smith handle press releases with the approval of content by the legal team. Use a professional accounting program to keep your books in order and up-to-date.
Have your legal team review all LOI's, contracts and other agreements before signing. Make sure you keep all personal finances and business finances separate, not like the good old days of private ownership. Avoid forward-looking statements in your press releases where no third party confirmation is possible. And always do what is in the best interest of your loyal shareholders. TIA
Personally, I would be very surprised to see anything filed and posted this week.
I am concerned about the statement that ultimately Jim Porter decides what is best for the Company when it comes to filings. The reason why an independent CPA is called upon is to compile the information provided to him in the form of unaudited financial statements and to present an opinion thereon which is not influenced by management, even though the information he has to work with IS the representation of management. Although other accountants may have had a hand in gathering financial information, it is the lead accountant who will sign off on the report, so he has the final say as to what will be stated in the financials.
Jim Porter has a lot of work to do to repair his reputation. The misleading PR's that were issued months ago were approved by Jim Porter. He had the final say as to their content. As far as future PR's are concerned, I think it would be wise for Bayport's corporate attorney to be given the final say in order to protect shareholders from future misrepresentation.
Anvil -- Do you think they might be waiting for the end of 2011 so they can include all four quarters of the current year in their unaudited Financial Statements? If their bookkeeping work is up to date, it wouldn't be difficult to compile numbers for the whole year, and it would explain why posting everything has been delayed.
They probably set the posting date for the first week in January to have the greatest exposure. Just a hunch.
How are we, the shareholders, "protected" by this revocation?
"It is necessary and appropriate for the protection of investors to revoke the registration of each class of registered securities of Respondents."
Multi-bagger from here as soon as the string of anticipated PR's begins to hit the wires, then it's onwards and upwards. Sounds like you're going to miss the party.
Setting up nicely for the January Effect.
2012 is the YEAR!!! Ride the wave.
D -- I'm not sure why the filings are taking so long, but we better hear something from the Company soon. Since I first started following Bayport, it has been part of their history that important documents are either sent to the wrong address, the wrong addressee, or are filled out incorrectly. There is an element of administrative carelessness that this Company must overcome in order to be successful. It is highly unprofessional of them, for example, to post forward-looking news where third party verification is not possible and then not to follow up with reports of further progress.
On the other hand, I think we have been better off without any press releases for these past few months than for them to be releasing further unsubstantiated announcements that they would have to later retract. What I am asking for, in other words, is no more shenanigans in their dealings with us shareholders!
I hope that once these filings are made and their financials are posted, the Company will fill us in on what happened to the $30-50M Aegis IPO deal and the gold production that was supposed to begin by the end of October, 2011. We have yet to hear an apology from Bayport for these wild claims and an explanation as to whether they were in fact fictitious or simply exaggerated.
Today's PR sounded vindictive, naming the EXTO CEO out of spite. According to the PR, it looks like their DD was performed AFTER they had already publicly announced the agreement. Totally ass-backwards. Now they are taking advantage of EXTO's vulnerability during its PR blackout with an assault below-the-belt. I wouldn't be surprised if an EXTO lawsuit against them is already in the works.
rubs1 -- If you have a chance, please call Briggs to find out if there is any news. TIA
Mr. K -- Nice observations and analysis. Price increases will come about as a result of increased buying pressure as more and more people become convinced of Bayport's potential.
Step by step, inch by inch, EXTO movin' on up!
Great week so far for EXTO. Any substantial news from the Company will keep this heading north.
Would be nice, but we need to get more eyes on EXTO and then move into the top 20 Breakout Boards. IMO
Exactly! Could be this week, could be next week, but it's coming, and coming soon!
EXTO -- This thing is about ready to explode. I am fully loaded and waiting for the action to start. Chart is primed as volume begins to increase and the horses line up at the gate.
There is a way to post differing opinions without being condescending or antagonistic. Thanks for your observation, sweetwater.
As soon as any news comes out, EXTO pps doubles, so I just picked up 74,000 more shares at .0054 while you guys were whistling Dixie.
Thanks rb for all your support over the past few months. If you haven't bought any shares yet, the next trading day or two might be your last chance to pick up a few before EXTO/Bayport ignites.
When I spoke last week to Briggs Smith, the Bayport/EXTO IR guy, he asked me how long I thought it would take for a Company as complex as Bayport to make its filings, post financials, etc. My answer was "three months." He agreed and said that the Company found out what really needed to be done for CE removal around Sept. 15, so three months would bring us to Dec. 15th. He seemed pretty certain that Bayport would be up-to-date with its filings by then, but when dealing with administrative bureaucracy, one cannot be absolutely sure one way or the other.
The Dec. 15th date is merely a guideline for when both the officers of the Company and its shareholders hope to see
that compliance with all regulations has been accomplished and the CE is lifted.
And hopefully EXTO explodes by the 15th. Just picked up my final 55,000 shares in anticipation of a major run beginning shortly.
We will definitely be movin' on up. What is currently built into the share price is all of the gaffs committed by management in the past. Over the last three months, management has grown to include a new legal and accounting team that have organized the administrative side of the business. In the days and weeks to come, we should be seeing a whole new style of management in the way management communicates with the business world as well as with the Company's own shareholders.
To go from poor management to sterling management will be one of the principal driving factors in price appreciation here. This will include a truly professional presentation of the Company's most recent filings as well as the posting of its financials, business plan and all of the upcoming press releases. We are definitely good to go! All IMO
With EXTO, we have been treading water for quite a while now, hovering around .006. IMO, it won't take much to get this back up to .01. Any news at all should take care of that. Then, the question is how much of a run will we see as more and more information is released.
I keep hearing that we have .10 potential in the near term (maybe three to six months). Like most, I plan to take some off the table on the way up to preserve capital and let the rest ride. What I am expecting to see is a new slew of investors coming on board as soon as the administrative filings and financials are posted. Then it will be a whole new ball game.
Have a great weekend, everybody!
Makes sense. Thanks.
Any day now, and according to the IR guy, absolutely no later than Dec. 15th, which would be three months since the Company found out exactly what was required to attain current status.
We are still well within a three month time frame from when the Company found out all they really needed to do to get into compliance, so I am not worried about our prospects here. Shareholders are on the verge of making some impressive gains once we begin to see the news the Company plans to unleash over the next few months.
Right now, we are witnessing a few very vocal and impatient shareholders who have decided to give up when we are just a few yards from the end zone. As they jump ship, their shares are being soaked up by those who see multi-bagger potential in EXTO/Bayport.
The equity markets will be open on Friday, Nov. 25th until 1 P.M.
I'm adding 3-5 days to what I was told.
My timeline, based on a recent conversation with the company, is that all info for CE removal will be filed this week. By the end of next week we will begin to see many new updates. These next few days are very favorable for those who want to buy additional shares without having to chase this up the ladder to .03 and beyond.
I picked up a few shares today at .006 with great relish. Looking forward to the next couple of weeks that should include CE removal, posting of financials and official news from the Company about upcoming deals and plans for expansion. All positive developments to boost pps are on the way.
No one can say administrative mistakes have been made in the past two months. By handing over all administrative matters to its new legal and accounting teams, Bayport has taken a new course of action to prepare itself for expansion in 2012 and, from what they told me, an eventual uplisting off of the pinksheets. Good times ahead so hold onto your shares!
If all of the administrative snafus are cleared up within a month, I will be satisfied, knowing how long it could take to do the accounting work and reporting for as many divisions as Bayport has. My timeline was initially six months to a year to
realize enormous gains and I am still accumulating, with great expectations.