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The first shares I bought in 2007 were at .35.
The next batch was in 2008 @ .14.
In 2009 I got more at .09 and .05.
My avg. cost per share is .11.
I still have all shares and see little hope of recovering
investment, so will continue to hold.
Sad to fall from potentially world-changing
software (???) to phone apps; kind of like Donald
Trump ending up working at McDonalds.
iagman
Shareholders of scandal-hit
Olympus Corp will file a lawsuit against the company as early as Monday, seeking more than 200 million yen ($2.6 million) in damages over the fall in its share price.
Confucius said, screw the shareholders and they will screw you back 200 million yen worse.
iagman
In other words,
it could be that maybe they will perhaps attempt
to possibly hold a video conference in the future?
iagman
Would you be willing to give those people technology without them removing you from the lawsuit?
So, the statement below from the 8K is basically fluff?
SECURITIES AND EXCHANGE COMMISSION
FORM 8-K
Then as part of the overall comprehensive business strategy, the company will attempt to simultaneously proceed to settle all of its outstanding litigation, enter into a Letter of Intent to finalize negotiations it has been conducting with Scott Copeland for the acquisition of new technology…
Has this letter been signed or not?
Then, there is this from the 14A
SECURITIES AND EXCHANGE COMMISSION
SCHEDULE 14A
R E C I T A L S
2. Definitive Agreement.
d. Conditions to closing reasonable under the circumstances, including but not limited to (i) five-year covenants not to compete from, without implied limitation, SUEZ, Jack Cukjati and Scott Copeland with respect to similar technology…
The word "similar" is very broad and could cover just about anything security related.
iagman
so you don't think that having no debt...
Yeah, that would be great...if true!
If they have liability of $3,512,385 and Kampa has agreed to pay off only $340,000, how does that equal zero debt?
THIS IS THE TOTAL LIABILITIES AS OF 7-31-2010
P.14- From the Balance Sheet- Total Current Liabilities 3,512,385
P. 21- As of July 31, 2010, we have current assets of $ 0 and current liabilities of $3,512,385
(Definitions- Gentlemen: This Asset Purchase Agreement ("Agreement") is dated December ___, 2010, by and among Burnt Hickory Company, LLC ("Buyer") and Suez Technology Corp. (“Suez”), a Florida corporation, and
Exobox Technologies Corp. (“Exobox”), a Nevada corporation (collectively, Suez and Exobox are herein called "Seller. ").
P23, par.f- Buyer acknowledges and agrees to accept the Assets with the liens set forth in the SECURITY AGREEMENT (as amended, restated, supplemented or otherwise modified from time to time) dated January 11, 2010, by and between Exobox and Aaron Feldman and related parties, and their successors and assigns, the principal and related interest due thereon (the "Security Agreement Liens"), but at the Closing such debt and the Security Agreement Liens will be cancelled and deemed null and void thereafter.
Burnt Hickory has NOT agreed to pay off ALL debt, only the liens set forth in Security Agreement. How much are those? From 10K Exobox filed for the Fiscal year ended July 31, 2010
www.exobox.com/docs/Form%2010k_jULY_31_2010.pdf
10K, p 6-7: $340,000: On December 21, 2009 the company was loaned $25,000 by Dr. Feldman with 10% due 9/21/10; the note was convertible tostock @$.06/sh. On January 7, 2010 the company was loaned $30,000 by Kampa and $30,000 by Wittenburg. On January 11, 2010 the company entered into an Agreement to purchase up to $300,000 principal of Secured Convertible Promissory notes. An agreement ,“Security Agreement” was signed by Feldman, Kampa, Wittenburg,Wirtz, Van Ryder, Hughes and White. On January 15, 2010 the company borrowed $5,000 from Wirtz. On March 19, 2010 the company borrowed $25,000 from Dr Feldman. On March 31, 2010 the company borrowed $50,000 from Hughes and $100,000 from White. On March 29, 2010 the company executed a note payable to Kampa for $44,000for accrued payroll of $40,000 and $4,000 paid for legal fees. On March 29, 2010 the company executed notes payable to Van Ryder in the amount of $15,000 and Wirtz $15,000. All the notes were at 10% with approximately a nine month maturity. On March 29, 2010 all the individuals who purchased the convertible notes for collateral agreed to have equal lien on them and no one shall exercise remedy until majority approval. The notes purport to be secured by the Company’s technology. The total of these notes were $340,000 as of July 31, 2010.
The way I see it, Exobox will still be chin-high in debt after transferring everything of value to Burnt Hickory. Shareholders will be invested in a company worth negative millions and the $615K won't be paid until, "Note Payable (“Note”) of $615,000 which shall be interest free for initial 24 months, thereafter accruing interest at 6% per annum. Repayment of principal will commence once Buyer has realized $3 million in net profits from operations before depreciation."
Consider this, Burnt Hickory will have to code the software, market and sell it and then make $3 million NET before giving Exobox a dime. How would EXBX last long enough to see any money?
If any of my reasoning above is incorrect, please document your correction so we all can make decisions based on facts.
iagman
There Are Many More Companies That Didn't Reverse Split and Went Belly Up Than Those That Did
And more people die from natural causes than auto accidents. But, I’m pretty sure auto accidents are a bad thing and advise avoiding them.
Let’s compare apples to apples and that comparison would be, what percentage of PENNY companies that do a reverse split survive vs those that don’t?
Here's An Excellent Example Of A Reverse Split: AIG
Oops, you forgot to mention Paulson’s bailout of AIG to the tune of 182 BILLION! Humm, I wonder if the financial strength of the U.S. government standing behind a company that cannot be allowed to fail could affect its price?
iagman
lwest,yes, we've all
had a lot of frustration with this company over the years. Keeping a sense of humor about it is about all that's left.
Someone here suggests that Jack is a Turn-Around Expert. All the CEO's in the past had great credentials, but look where we are today.
If resumes could do the trick, then we'd be over $5 per share today.
iagman
expensive people are cheap
And sometimes cheap people are expensive.
iagman
I received the information below
in a private message. I have not verified the accuracy of it and suggest you do your own DD.
Jack Cukjati gets the $615K.
Only the amount to clear the liens is taken on by Kampa's group. about $380K, Exobox will still have 3.2 million of debt on the books.
I don't know Cukjati. Maybe he is a saint, maybe not. Based on past experience with this company and those that loaded their bank accounts at our expense, I think the stockholders are entitled to a Q&A session before ratifying proposals that raise a lot of concerns.
For example, PROPOSAL 5
RADIFICATION OF THE BOARD OF DIRECTORS ACTIONS
The Board of Directors asks its shareholders to ratify its actions for the preceding period
commencing August 1, 2008 and ending December 27, 2010.
Does this mean we are being asked to give APPROVAL to all conduct, known and unknown, that went on during that 2 1/2-year period?
Why is this proposal important to the current board?
What happens if the proposal is disapproved?
Does approval absolve anyone of conduct deemed incompetent, inappropriate, or illegal at a later date?
iagman
A large percentage
of companies that do a reverse split will continue to trade lower after the split. A reverse stock split is normally a very big red flag. Consider this before blindly voting YES on Prop 6.
Since we cannot know the future, we have to judge the probable outcome of the split by the past experiences of others when faced with the same situation.
No matter how you look at it, we are between a rock and a hard place.
But, I would like to know how the CEO justifies such a large salary at this time from a company that is in dire straits and has never made 1-cent worth of profit. Such a salary will eat up the $600+K in short order.
iagman
Investopedia explains Reverse Stock Split this way:
A reduction in the number of a corporation's shares outstanding that increases the par value of its stock or its earnings per share. The market value of the total number of shares (market capitalization) remains the same.
For example, a 1-for-2 reverse split means you get half as many shares, but at twice the price. It's usually a bad sign if a company is forced to reverse split - firms do it to make their stock look more valuable when, in fact, nothing has changed. A company may also do a reverse split to avoid being delisted.
iagman
This latest batch of
penny stock chasers see green candlesticks.
Us long timers see moss-covered turds.
iagman
Does anyone know if this is the Burnt Hickory, LLC that is buying Exobox?
http://corp.sos.state.ga.us/corp/soskb/Corp.asp?223405
Not much info available on this company.
Who exactly gets the $615,000? How is it divvied up? Does all of it go to officers, or who?
Before jumping to an automatic YES vote on January 7 (about 13 business days away), we should find out more about Burnt Hickory, LLC. We should know exactly what their intention are regarding this technology, plus a timeline.
Does this company have the expertise to get this product on the market? Do they have the cash to see it through?
As things stand now, once they have their hands on Exobox, what keeps them from deciding to go in an entirely new direction, a direction which could leave shareholders totally empty-handed. For example, if Burnt Hickory resold the technology to a third company, would the contract for 2-3 percent of net profit for Exobox still apply?
Burnt Hickory is assuming ALL of Exobox’s debt; what would happens to the technology should Burnt Hickory go belly up?
I need to know a lot more than is currently known before blindly voting yes. Otherwise, it could be a leap from the frying pan.
I've waited years on this stock and have every single share. The one thing that's soured me more than anything else about Exobox was their lack of openness and forthrightness.
Will Burnt Hickory be the same?
iagman
So sad to see
a worthy idea that could have positively affected all our lives shrivel away to nothing amid greed and corruption by self-serving lackeys totally void of personal integrity and honor.
iagman
<Not a word on the blog, web, etc. from the CIC since taking reins. The month of April came and went>
It's the water on Sage Rd. I tell you. I'm certain it causes paralysis of the vocal cords and fingers.
iagman
And, for goodness sakes,
don't sign any non-disclosure agreements. That's a tactic to pump this board via innuendo.
iagman
Seems to me that Kampa's contract is key.
If he renews, then something good must be in the works.
If not, that's all she wrote. I don't see a v4 mgt. team.
iagman
I suggest you guys avoid
drinking the water on Sage Road
because it apparently causes
paralysis of the fingers and larynx.
iagman
Nov 12 2009, Kampa said,
"Within the last month, Exobox has reduced operating expenses by 70% while continuing to invest in our sales efforts and support organization. The company is positioned to realize significant recurring revenues from pending contracts with several clients. We are committed to servicing our clients and performing to the highest standards of customer satisfaction.
I bring to Exobox a proven relationship with the private and public investor network. The company will have access to the resources required for marketing and supporting our current products, ExoDetect and ExoWatch, and building the necessary infrastructure to develop our other proprietary technology. Our business plan is focused on providing our clients with innovative products and excellent support. While the company has demonstrated outstanding vision in the past, it is not enough to 'stare up the stairs'; rather, it is time to 'step up the stairs.' It is time to execute the Company's vision and obtain the necessary resources and staffing to make it happen. I am excited to play a role in leading the charge to insure our success."
What happened, Mr. Kampa? Where are those PROVEN relationships you mentioned? Is your commitment still intact? Are you still excited to be leading the charge? We are charging UP the stairs and not DOWN the drain, right?
iagman
<I hope this thing gets better, but it's looking like Don Meredith is warming up to sing>
Is he a fat lady?
iagman
<we can give them the old one finger salute>
I believe that is referred to as the "Bud Adams" now.
iagman
A few thoughts,
Government wanting free and unlimited license for funding may have been distasteful. But, was it more unacceptable that letting the company go under? Taking government funding would have been much better than letting us all lose our money. I don’t think that option should be taken off the table until we are up and running smoothly.
Another source of government funding that has few strings is pork barrel spending. Everyone else is getting theirs, so why not Exobox. Surely securing government secrets is as important as the sex life of a mealy worm. Maybe some of you Texans should contact your reps in Washington. If we see potential, surely they could be persuaded to toss a bit of pork our way.
All this talk about patents: I thought we already had two patents on the AV software. Or, are we talking about something else?
What I have wanted from the beginning was a leader with backbone enough to face us and speak in plain English. Looks like our days of gutless wonders may be over. So far, Kampa seems to be this man. I’m willing to give him time to get organized and get going. But, my patience gets shorter with every new administration.
iagman
Then Thornton post is misleading and should be removed.
iagman
UCant,
Thornton posted,
<THE AV SOFTWARE IS REAL!
EXOBOX HAS A DEMO AND UCANT HAS SEEN IT>
I don't read in your original post where you stated you ACTUALLY saw a demo of the AV software.
Your words were, "I can say that it is my opinion that the AV is without a doubt real. I did sign an NDA so I cannot comment on the AV or describe it as per Mr. Kampa"
Did you or did you not see the AV in demonstration or is this just wishful thinking on Thornton's part?
iagman
I suppose it takes more than a video conference to regain my confidence, but it is a positive start.
< I can say that it is my opinion that the AV is without a doubt real.
Scott is and has been giving many demonstrations on the AV>
How is this possible if the software has not been coded?
Did you ask why the constant selling of massive amounts of shares just as the pps were rising?
iagman
One thing I would like to know is
whether this CEO has other irons in the fire like the previous CEO. Or, if Exobox is his single focus of attention. I would feel better if he didn't have a plan B to fall back on.
Maybe if the coffee confab has a Q&A instead of being just a scripted presentation, someone in Houston can find this out.
iagman
I think he may also qualify for the Nobel Peace Prize.
iagman
This was my first venture into penny stocks
and it has been an eye opening experience. What I thought would be a risky but worthwhile investment has turned out to be more like a case of reoccurring hemorrhoids.
iagman
Could this entire thing be a
reality TV show being taped without our knowledge?
"The Last Investor Standing", something like that.
I mean, you can't write a blog like Sam's unless
you understand creative writing and how to look up
hyphenated adjectives in Roget's International Thesaurus.
iagman
I thought for a minute I was eating lunch in Denny's; the plate was overflowing with gravy, but not a single morsel of meat.
I am weary of hearing what we are going to do. Just DO IT already. S**t or get off the pot. Assuming we DO have a pot.
iagman
Software, oil, and perfume
are the holy trinity of industry.
If you leak, squeak, or reek, we would have it covered.
iagman
For me, it means nothing except
we may/may not have an E tacked onto our name
because they will be late with filing.
And, apparently IHub is having trouble
with its little chart.
Otherwise, things look pretty much normal. Just another
day in Loonyville.
iagman
ScotTrade
Bid .04 Ask .055
Last .05 @ 11:24
Vol 334,925
Hi .05
Lo .042
iagman
I suggest this direction for Exobox software;
give us a product that prevents PokerStars from sniffing around on your computer to see what programs are running or what web pages you have open.
Figure out how to plug this data leak and Exobox might have something. Free exposure, too; ExoPok-R-Plug banned at online holdem sites worldwide. Would not that news raise the pps?
iagman
<that one of the things that some of the yet to be developed software would/could do... would make pirated software/movies a thing of the past. THIS would be worth untold kazillions>
We make an assumption that the data leak works as advertised. Has that been proven in the short time it has been available? If it held such promise, would not the gov. have stepped in and prevented Exobox from folding? Dr. Evans being the bro. of Bush’s SOC would surely have gotten the word to someone who could have prevented the business failure. Does not the gov. has a high-dollar investment in this company too? Wasn’t it a million dollars they forked over after the Exobox entourage demoed the AV software in DC?
Regarding data leak software; consider this, how can an Internet bot gain access to where pirated materials are most prevalent, China, since they seemingly can block Internet access at will (or can they?).
iagman
<From my understanding everybody and their uncle makes an AV softwaresolution.>
But no one makes AV software fitting the description of Exobox’s; assuming their description from years back still holds. If anyone did, then why would worms and virus continue to be a problem?
The AV is the software I’m interested in seeing developed.
< I'd rather be in the position of being the ONLY one doing something really needed. The data leaking stuff fascinates me... as I do believe that this is going to continue to be a growing need.>
Someone said basically the same thing a few days back; that the potential for data leak software exceeded the potential for the AV software. I’m not in the software security business so my insight is limited, but this is how I see it.
If every business in the entire world was a potential customer for the data leak software (which they aren't), that would amount to X-number of sales.
With the AV software, you would have these same businesses as potential customers (they have computers), but you could also add in the computers of every other tom, dick, and harry on the planet. I fail to see how the potential of the two types of software even come close to which is most important to sales in the long run.
iagman
<For those that don't believe we need Ted Ernest back. Let me ask you this.. what was his role @ Exobox?
Answer: He is the lead architect in designing the Exobox SECURE™ Suite Solution>
Would your analogy extend to some architects being more suited at deigning tract homes while others are better at highrises?
We already have two 5-BR bricks; now, we need a skyscraper. I say, pay whatever is needed to whoever is qualified to get the AV software DONE!!! I don't really care what his name is.
iagman
Personally I don't know squat about
the oil and gas industry. Exobox might as well be buying aromatic hog farms as far as I'm concerned.
But, if this keeps them alive and allows development of the AV software, then it is a good thing. If it is only about money, then my enthusiasm will drop.
The sores of the Internet desperately require an injection of penicillin if it is to ever reach its full potential. If Exobox does not culture it, someone else surely will because the need can only intensify.
Why not us? I hope oil and gas is the means to this end, not the end itself.
iagman
Yes, you called?
Chart is definitely heading up.
Mine shows 142.
Wait, that's blood pressure. Sorry, wrong chart.
iagman