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That's allright. In the end, they make a little, we make gobs of it!
Turns on a dime. First NITE on the ask at .007, now on the bid at .007 with a .0005 spread. Make up our mind already!
I agree lots of folks are remaining skeptical, however Tom and DeDe did found Wisebuys so it's hard for one to imagine that audits would turn up anything that they didn't already know about.
That is for SWVC. I saved a screenshot on my desktop. The file number is 4256989, date of incorporation is 11/27/2006
Maybe it's the other way around...and SWVC owns Seaway Capital.
Well, they paid $14,479 in franchise taxes on 2006 assets. I think they own something.
Oh, I'd be happy too!
What's even better is that one must remember that those are from the 2006 franchise tax return. We're about to enter 2008 in a few more months.
OK, I think I've figured this franchise tax thing out. If I'm wrong, correct me. The below from the DE SOS website
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To use this method, you must give figures for all issued shares (including treasury shares) and total gross assets in the spaces provided in your Annual Franchise Tax Report. Total Gross Assets shall be those "total assets" reported on the U.S. Form 1120, Schedule L (Federal Return) relative to the company's fiscal year ending the calendar year of the report. The tax rate under this method is $250.00 per million or portion of a million of the assumed par value capital, which is calculated as described below, if the assumed par value capital is greater than $1,000,000. If the assumed par value capital is less than $1,000,000, the tax is calculated by dividing the assumed par value capital by $1,000,000 then multiplying that result by $250.00.
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It appears to me that if the franchise tax was $14,479 and the rate is $250 per million of calculated capital then the total gross assets listed on the franchise tax report must be around $59 million.
Of the two methods listed, I'm sure the authorized shares method is out of the question because of the size.
Which leaves the assumed par value capital method.
The key is in the "issued shares" clause.
Yes, I wasn't surprised by the share structure. I'm more interested in trying to reverse-engineer their franchise tax statement to determine gross assets.
Here is the link to how the $14,479 franchise tax was calculated.
http://www.corp.delaware.gov/frtaxcalc.shtml
OK, the results of my 20 bucks!
Not a lot of information other than what is freely available. I did see somewhere a number to order an annual report though, which I assume is a franchise tax report.
Their 2006 tax assessment was $14,479.45 which gives you some idea of the amount of capital they carry on their books. Not sure how much different this is regarding the valuation than the Texas state franchise taxes which I have to figure and pay here in Texas.
Other than that, they are in good standing, no taxes due at this time, and there are 2,505,000,000 shares authorized.
I wish I had all the answers but according to the DE SOS website, Seaway Valley Capital Corporation was incorporated on 11/27/2006 whereas the Seaway Capital, Inc was incorporated on 5/8/2007. I'm sure there is some connection between the two, but I would just be speculating at this point.
Since we don't have much to talk about today, I just paid the 20 bucks to retrieve all of the past filings, franchise tax assessment, and history. I'll post back here with what I find if it is of any relevance.
As far as the financials showing profit...
http://www.seawaycapital.com/news/News_Release_07-17-07.pdf
Give it a rest already people! A watched pot never boils!
Well I can tell you that the merger filing was sent back because it was filled out incorrectly. You can find that in the tiff document on the sunbiz website.
http://www.sunbiz.org/corinam.html
You'll have to search for it, won't let me post the direct link. Did save the tiff file to disk though.
What is Pristine Seafood Merger Sub from DE all about? Anybody have any insight as to why the move?
From what I see the surviving corp has 100,000,000 shares authorized but none issued.
When I search SEC for John F. Heskett who signed the docs on file with Florida SOS, it returns results for Innova Pure Water and Sinobiotics among other things.
Looks like POYS has 48,867,460 issued and outstanding.
Bids lined up at the 50MA. No worries folks.
While it's possible with an offshore account, a better question would be why in the world would anyone want to be short this stock?
you know, the stuff about mapquest, google, ford, gm, APPL, and all that other stuff you're hiding!
Can we add it to the Ibox? Oh come on Steve! Pleeeze?
you get my vote for funniest post of the day.
Nah, this dude is the funny one...
http://investorshub.advfn.com/boards/read_msg.asp?message_id=22254970
Been a heckuva long time since I felt very good about any penny stock, or any stock lately for that matter. The transparency and qualifications of the leadership plus the business model make it difficult to find anything NOT to feel good about here. Tom's doing the right things and I think he will continue to do so in the future.
It would appear we are fedex, around 10 percent of the float in two days in the .01+ range. I think the flippers are destined to chase for a while.
Now LOW gotta disagree with you to some extent because I've been/done both and sometimes still do.
As far as being wiser, I'd venture to say that about 50 percent of the time, flippers are luckier than the average person, and about 50 percent of the time flippers are unluckier because being wise is a relative attribute. I know, I know all sorts of folks make a living trading and flipping and all sorts of folks are buy and holders, but 90 percent of the folks out there do worse than the general market because they are too skiddish.
Being wise is knowing which stocks to flip, and which ones to hold. After a year with SWVC I'd venture to say that you would agree with me.
You can't through Ameritrade. You can however find an offshore broker who can and will short any stock whether they can find a loaner or not. Notwithstanding the back room MM handshake deals that I'm sure are done every day.
I'm not gonna giton the soapbox here lol, but it all starts with the SEC. It's pretty much just a keep-it-in-the-container mentality but don't take the lid off too much because we're afraid that the peanut butter inside stinks too bad.
That's all right, it'll come in leaps and bounds when the flippers realize the train left and they pay extra for the cab to the next station in a hurry before the train gets there. Me, I'm on the train just watching the traffic. No worries.
I forgive you! LOL.
NITE on the bid at .01
Keep chasing it NITE. You've been a very bad boy lately!
Yup, I was looking at the ADX, OBV, and RSI on the 5 min chart.
get ready, looks like we're about to see another push. I think we close over .01 easy today.
Yeah, I've got aturd too. OK with me though because I have no intent of selling any time soon.
I'm just happy that there's about a bazillion gazillion more posters here at 1:30 in the morning.
LOL, not long ago I wuz talking to myself!
LOL, don't think anyone intends to get in the red, but it happens to everyone at some point. GLTY.
Well, glad someone told you about this. In the long term though you're pretty much irrelevant.
As far as red goes, you might give that statement some thought since you'd probably be the only one on the planet that never gets into the red at some point, or maybe the only one who can pick the tops and bottoms right on the nose 100 percent of the time. Any flipper who sets a limit at their purchase price without assuming some degree of risk is destined to see their 4~5 percent gains eaten up with commissions. Logically, that is the only way I can see it happen for one who never gets in the red.
8K, somebody help me out here. Just got in and saw the 8K and I believe I'm seeing that both Cornell and Highgate are out of the picture now. Is that right?
So Highgate has 20 million shares and the rest of the float is public/retail.
Amendment is going to be posted showing the effect on SWVC it seems. That is going to be a much read filing I think.
Correct. That and watch it go up hopefully!
Great link Jo! First evidence I've seen of the new symbol.