ONE HEADLINE YOU WON'T SEE:

SEAWAY VALLEY ANNOUNCES REPAYMENT TO ALL SCAMMED SHAREHOLDERS!

From that article on Scuzzo, the author is looking for a story...

If you invested in Seaway and would be willing to talk to me about it, please e-mail me at david-at-ncpr-org. Thanks!

David Sommerstein, reporter

You can post comments to the article that Tom is trying to hype in his local papers. Someone already started with one this morning. Not a bad idea to get the story out on what a scam artist this guy is.

I also love the way he places blame on Schwartz for the tax liens outstanding. He should write an article on whose fault it was that he missed the .001 conversions so long ago.

Unbelievable watching this over again...now it's a guy in a black hat pitching the rise from the ashes. I liked it better when they had the alcoholic looking guy with his hospitality group and the half filled glass of beer.

Well, Tom diluted me away so...so for all it's worth, I wish him and his porky Kathy Bates looking sibling the very worst.

Sambo, you have got to be kidding me...you haven't been here long enough to see the carnage, so I'll just base your questioning on naivete' rather than ignorance.

It all started when Tom (and his lawyers) missed the .001 conversions through the acquisition of an unclean shell.

After continual dilution, Tom stopped communicating with the masses.

Good luck with this one...

Sounds to me like WF called the line after covenants being broken. Hackett's was able to repay part of the total ($3,000,000 I believe was said). However, paying this and not having a credit line going forward leaves many angry vendors...who are in a subordinate position to the bank. They are the one's petitioning the court for liquidation....

And the bank's hold on the assets follows Tom's gimmick of creating other companies - and moving assets into them.

Was reading an article on worthless stock, and came across an interesting tidbit on when a stock can be classified as a "capital loss" vs. "ordinary loss" under worthless stock standards.

Seems that one can write off a worthless stock against ordinary income if the stock is deemed an affiliate. To be an affiliate, the shareholder must have at least 80% of the voting rights of the shares.

I can only think of one individual that will benefit from this, and this may be possibly why he set up the share structure the way he did.


http://www.abanet.org/buslaw/committees/CL690000pub/newsletter/200807/reinstein.pdf

One down, 17 or so to go

Very true. And I believe the reworked CD's state that draws are limited to the average volume of the 25 (or some number close) trading days preceding. So my guess is that it would be quite some time before the next R/S - giving TS options to figure out how to resolve the indebtedness before then. Secondary financing would only be available should the business proof to be profitable. As of yet, that remains to be seen, but quarterly is due out soon, and it will be interesting to see how cost cutting measures / transitions / sales are faring.

Expectation was that shares would run to 7-8Billion on .0004 share price (for those that were actually converting CD's). Obviously, that would be more now with deflated price, but seems like a waste of time to track the o/s share count when you know this is what is happening. Every increase in shares is made to be some type of stunning revelation.

May be better this goes to NO BID or private. At least it would qualify as a worthless stock (no longer traded or listed)and be able to be completely written off against income...

Hmmm, thanks for the shout out from 2007. Haven't been following this one too closely lately, just waiting on filings.

Though I see it's tough to predict anything lately huh? Geez, back in 2007 everything looked good, even Mobl??

Posted by: crashman Date: Tuesday, July 03, 2007 9:56:03 AM
In reply to: tomvlasic who wrote msg# 9990 Post # of 14734
Some traders messing with the sp. Best thing to do is not to trade other than long term and if those then always use limit orders don't be fooled! I don't really expect a lot of action today (before the holiday) JMO, but the sp will snap up within the next couple of weeks and I'm sure we will run above 10 cents and higher long term.

now at .0003 sigh....


“A pessimist sees the difficulty in every opportunity; an optimist sees the opportunity in every difficulty.”
Winston Churchill

When is Q due date?

Any MOD going to update ticker reference on chart?

Pay 2x as much? Do you have an example of this doubling of price on same items?

Walmart has been around for some time, and so has Hackett's...I think it's safe to say they co-exist. Niche markets are still a popular concept, especially in the close knit communities where Hackett's is located. I can site numerous marketing examples of such, ie, McDonalds, BK and Wendys vs In n Out Burger, but I think you understand the concept.

But I thought you were questioning why any store would open in this area with such poor income levels?

So you want me to believe this is too poor to survive on it's own, but because it has survived for over 100 years, it is still going to failure because another successful outfit such as Walmart has gone against your first thought of low income and still decided to infringe upon this area to thwart us once again?

Can't have it both ways...

For over 100 years, somehow they've found a way

Awesome store pictures. Look at the name brands represented...combination of Target plus Walmart plus Home Depot.

publish the minutes for us...thanks in advance


“A pessimist sees the difficulty in every opportunity; an optimist sees the opportunity in every difficulty.”
Winston Churchill

While I still think it's correctable, imo the answer to your question is #3) The Legacy Debt Convertible at .001. It caused substantial dilution further deteriorating the sp, which caused more shares to be issued, etc etc..

For this reason alone, Tom owes the explanation of not only why it was missed, but more importantly, what he is going to do about it now that it has unfolded into this.

The stock pps is not the only thing that has deteriorated

all quiet on the Sackett's Harbor front...

Just let the Company transition costs settle. You guys go at it daily, on the hour - about the same thing. It doesn't help watching the tic by tic at this point in time - or jumping on about the stock issue.

Now, it's all about business operations and turning this profitable - and you aren't going to get minute by minute reports on that progress.

Tom isn't going to allow the Company to go bankrupt because he is personally guaranteeing most of the loans tied into the portfolio of investments in this shell.

I post seldom now because there is nothing to do but watch the business unfold. Too many flip junkies on the board here not liking the stillness of the water.

Why bother with responding lol...purpose is clear. Just bide your time

he is going to court to try and get some cash to pay down what HE HAS PERSONALLY GUARANTEED. Just so happens that it helps us as well. So anyone that thinks TS is in it for himself, I couldn't care less because we all all win if that suit has a favorable outcome.

Hopefully, that Q will be out soon. Can't wait to see.

Where did all the other side of the fence posts go? Ever since the stock maxed out, there has been little naysaying on this one? And the stock actually is showing that it can appreciate well absent dilution. hmmmm....I guess we get a break while they cover???

Well, the debt has to be paid and CD's were the way they were financed. $40Million in assets didn't just pop up out of nowhere. So paying the debt owed to finance these acquisitions is the primary cause of increased shares. The higher the sp, the less exchanges needed to satisfy the debt.

Take the filing and cut those shares in 1/2, just based upon sp rising from .0004 to .0008. I've heard so much about floorless convertibles..time to start looking up at the ceiling...

So right now take that filing and all those convertible shares and cut them in half. Amazing what sp can do to those numbers...

At .0008, the shares needed to pay off CD's become HALF of what was listed in the filing....

Easy,
I'm trying to figure what this stock would be worth with YA out ($1.4MM or so gone), GGI out ($400K or so), and us having the viable income producing assets of $40MM or more. I'm not saying it isn't going to be work..just looking forward to what might be...

The email that was shared with me had Tom stating that the MM's had taken this stock to the floor, and thus forced the R/S and authorized share increase, as they were required for compliance of the debentures.

Now that we are at the "floor" - let's see what Tom has up his sleeve for the limited time of even keel. Maybe nothing...maybe something...

Once those remaining shares are placed into market..going to become a level playing field for the time being. PR's might sprout up about

1) $15M company acquisition
2) 30% Biofuels update
3) A beer event in BFE

If you are just tuning in:

Here it is in a nutshell from way back when, since all there is right now is debate about the pro and con..

YA appears to be converting their consolidated debenture (which consolidated some CD plus debt payments), along with a few others (GGI, JMJ). Newer CD's (over the past year) have been derived to either fund acquisitions (Hackett's, NCH) or re-structure upcoming debt obligations on certain properties.

CD's appear to have been issued with premise that sp would stay at a certain level and convert at a lower number of shares. However,the share price has gradually deteriorated much due to a legacy conversion issue (which may or may not have some implications to us gaining a 30% interest in biofuels). The CEO has been silent on this issue up till last week when he mentioned some 30% interest in biofuels co., but never explained what legacy debt was for.

As conversions have taken place, retail has bought up much, but also there has appeared at time to be some other larger players occasionally supporting the bid. Stock has basically now been maxed out as a result of conversions at a lower pps. Tom has acknowledged through email that cause for r/s and increase in shares is because of conversions at such a low pps.

Filing shows that CD that are converting post split have the potential to extend beyond 10b authorized, but that mgmt is expecting that this will enough to satify CD and allow room for further acquisitions.

Meanwhile, Wisebuy's stores continue to be converted, beer if pouring, Hackett's is moving along with new openings, real estate holding company may have possibilities we don't know of yet, and there are talks of another $15M sales acquisition with $500,000 bottom line profit. All this while we wait for the 10Q to see some true numbers...



“A pessimist sees the difficulty in every opportunity; an optimist sees the opportunity in every difficulty.”
Winston Churchill

Thanks for the advice, but I'll wait.

All in your opinion of course. Should stick to reporting on the share structure.

That 80% is there so Tom maintains control. Doubt he will do anything other than hold that out there as a means of keeping control. From the last filing...

...the power of the Board of Directors to provide for the issuance of shares of common stock without shareholder approval has potential utility as a device to discourage or impede a takeover of SVCC. In the event that a non-negotiated takeover were attempted, the private placement of stock into “friendly” hands, for example, could make SVCC unattractive to the party seeking control of SVCC. This would have a detrimental effect on the interests of any stockholder who wanted to tender his or her shares to the party seeking control or who would favor a change in control.

Whats up with the Accum line...

Well, can't say I agree with your investment strategy then if you are still in this and on this tact. Big time credibility issues then in my book...but it is a free world - so continue what it is you are doing...

Just please do me a favor and disregard my posts as I will yours.

Good news would be turning of stores to more profitable ventures / decreased transition costs. Profitability is pretty much what will be the trigger for any type of turn around here.

Wait, let me try that again with a bit more emotion - Cmon Tex! WE all KNOW the answer is profitability!!!! TS has to show the bling on the BOTTOM LINE oh yeaaaaaaaaa....