Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Thanks KOP, in all honesty, I came close to one of those moments. I was in Warfield, KY, 45 minutes up the road from Gwenco, last summer. The refuse area, where they dump all the rock/dirt from the mine was a mile up the road on the property.
When I got there, there was a bunch of grungy guys who were doing some natural gas pipeline work. Literally, the first words out of one of them was "so, were are you from?". They had no idea they were on coal mining property and they weren't from around there and it looked like they set up a mobile home to stay in.
Needless to say, the refuse area didn't have that great of importance all of a sudden. You have to understand, i am a preppy looking guy.
But I am not going to tell anyone any more about when I travel down there because I know there are alot of people who read this board in Ky. and don't want to be obvious. I have shown up at properties to be welcomed by a loaded pistol too many times down there for a variety of reasons.
Everyone has one and you have to remember, they filmed the movie Deliverance not to far from Gwenco.
Believe it or not, they are on vacation. I am going to look at a BK coal property down in Leslie County, KY and will swing by with a camera. Hope to go later part of next week.
Poop, company management just doesn't listen to its shareholders. They know that shareholders are "clamoring" for them to raise capital. But they are still stuck at 20 billion o/s.
Post of the Day:
1. MoneyMetal: I am not against a virtual office, cheap and efficient but only if you are going to use it. Did jean move to Montreal?
2. My comment about "look out for the closing of the California office" was related to ez debt. They are a call center operation. Where do they go? Have they all relocated to Montreal? (sarcasm)
3. If you go to the TSX website, you can find 50 CPC's, blank check corps that are listed with cash. Should be easy to find one to do a deal with. Although, they are limited, from my understanding, to capital of $2MM.
4. I disagree with comments that a listing of IWS won't impact RCCH. RCCH will receive shares of newly listed IWS which should be a valuable asset, assuming IWS is a real company. It is just a matter of how much of IWS jean/rcch owns.
Usually, when referring to sub, companies say "wholly owned" or "majority owned" subsidiary. In the granada report and rcch website, it say "sole" subsidiary. I am sure many can argue the meaning of that, but I would suggest you look at other companies and how they describe their subsidiary ownership.
The sec has to approve the 211 and we would be able to see it on sec.gov. Could happen, probably not. Can't rule anything out, except that there is substantial liability to the MM that submits the 211.
Fort, even if part of Fortress, can not quote HGLC as it on the greys. No MM's. FFGO, could be a different story.
smaz:
What items were backed up by the pr? None. Gwenco already has a contract for delivery of 10,000 tons (clean) which equates to 30,000 tons raw. At full production, a continuous miner can only mine 20,000 raw per month.
What good does another contract do them if they can't fulfill the existing one. The only way they could meet the existing contract is have two continuous miners working and they can't even get one to work right.
To fulfill another contract, they would have to open Lower Cedar Grove. And maybe that's their plan. But this pr is nothing but an attempt to raise capital by selling shares.
Once again, gene is way out ahead of himself.
A couple of hundred million shares trading out of how many outstanding? A couple of hundred BILLION!!!
Post of the Day:
1, Congrats to Minnesinger on the great virtual office due dili. Must get crowded in the 8x8 cube that RCC shares with CIPC. Oh yes, notice how he posted the factual info and he was called a short, too funny.
2. I guess naming rights for building are not worth mentioning.
3. Will keep eye out to see if they close CA HQ in rancho cucamonga. That wouldn't be good as then the whole company will operate out of virtuals.
4. IMO, if jean doesn't do something quick, it will never get done. Why? IMO he is out of money and needs something to happen to dump more stock.
5. Lastly, just a guess, but the SEC has been really cracking down on pinkies for false statements, etc. I am sure we all have seen this and I would post some tickers, but would be considered off topic. These investigations have resulted in temporary trading suspensions followed by a drop to the grey sheets.
Maybe jean has received the call from the SEC and is clamming up. Maybe jean will get RCC on to another venue as promised, the grey sheets.
I heard that the company's certs are changing from paper to feminine napkins. Just need to keep them in a low moisture environment.
For those that say frustrated shareholders should review their investment in the company, I say, maybe should review your rah rah post over the last four years. See how they are working out.
Anvil
i don't post much, but have been a shareholder for a few years. All I can say is no matter how good the tech is, if they can't sell it, it's not worth anything.
The company should issue a monthly pr stating what sales for the previous month were. No mention of customer names, just sale figures.
Quite frankly, this has been one crappy investment. Some may be here to root on managment, I invested to make money and so far all I have is a big loss.
The rah rah got old a couple of years ago. Remember the big bounce we were supposed to get when we moved off the greys. How about when a product was finally available.
Scoreboard says it all. Only stay in this because my good friends Josh, Bri and RR are still involved. At least I hope they are.
Post of the Day:
I have good news and bad news for shareholders.
Good news is the financials that jean posted are wrong.
Bad news is the financials that jean posted are wrong.
Bad news first. After taking a second look at the financials, something seemed odd. There it was, the balance sheets are identical for year end 2006, and the three quarterlies for 2007. How could this be? The company had been in business and incurring expenses. There were losses for each of the period, yet there was no associated change in net worth, debt and or cash.
Anyone with an basic understanding of accounting could tell you the statements are wrong. And these were reviewed by that new accounting firm. Not good news.
The good news. The financials are wrong and maybe they forgot to add in the assets of IWS (A/R, A/P, inventory, equipment etc.). More importantly, maybe they forgot to add in the other $15 billion of "audited" assets. Let's just hope that the other "audited" assets were not the work of the same accounting firm.
One of you poster's that communicate with jean may want to alert him to this little issue.
More good news, I verified that there are actually more than 22 floor in the Canadian HQ. For a minute, I thought jean would try to state they are the 22nd floor of a 20 floor building.
This is a no brainer!
andrea
You can say that again!!! LOL
As an alternative, should you desire to continue this dialogue, at least agree on certain undisputed facts:
1. Gene has a long history of scamming investors. He even won an all expense paid vacation to clud fed.
2. Gene is hooked up with a known and convicted scammer, tarun.
3. While VP of Gwenco, all the execs around him, ended up in jail for various felonies all connected to scamming.
4. Gene said that the mine was in full production when it was not.
5. Gene has been the subject of a Wells Notice (status unknown).
6. The mine has produced a nominal amount of coal.
7. Pond Creek is a decent mine with good seam thickness and high quality steam coal.
8. Either incompetent miners (i.e. White Star) and unreliable equipment caused Gwenco to miss the biggest bull market for coal in decades.
9. Gene either has ADD or can't count above 1 billion, so he frequently RS's to change the symbol and reduce the share count.
10. It is unknown if they are pulling coal out at this point.
11. Gene only likes to pr good news and doesn't think shareholders would like to the know the mine was temporarily closed.
If you guys can agree on this undisputed facts, it will make the discussion more informative.
Post of the Day:
I would like to start by thanking the poster who provided a link to RCC's financials. Now I see why this is trading at no bid/.0001.
The financials which jean filed reflect a company with nominal assets (primarily office equipment) and debt owed to jean. There are no holdings in other companies (i.e. the archived website).
In fact, the most recent statement for Sept. 2007, does not list any assets or any mention of IWS, which was acquired in Aug. 2007. Which is odd as this was an asset purchase. Where is all the equipment, machinery and inventory for this bustling little business?
Now you can't have both ways, either the financials are correct or they are incorrect (and RCC has all these other subs). But why would jean, an allege man of honor, file false financials?
BTW, it looked like jean had advanced/loned RCC over $800k. My guess is he did the private placement as some ridiculously high discount and used the proceeds to pay himself back. Then the discounted shares hit the market driving the pps down to where it is today.
Am I missing something to this story? I have only been following it for a couple of months.
info, appreciate your efforts and look forward to your synopsis. In the meantime, did Rick say how they are funding their operations?
And how do you know that shorters and distributors are calling the company every day? Do you have a phone number for the company? Not hands, but pillay are whoever is in control?
Battling:
Hate to use my one post of the day so early, but you ask a legitimate question and did not get a response.
While, IMO, jean will never do a transaction that results in a listing on the TSX, the requirements DO NOT prohibit foreign companies from listing on the TSX. They do not have to have a Canadian address.
However, there are no one man boards, that is the problem with the BB's and pinkie's. In fact a percentage of the board has to be Canadian citizens.
On a different subject, based on someone's due dili, looks like jean/cipc just have a office on a floor shared my several other companies that share a receptionist. Too funny.
Test B will simulate an extended shelf life.
How long does this take? 2 years????????
Mookies:
Not thrilled with the response, what's the big deal in disclosing the address of the coal property. With the address, I could look on the MSHA (mining regulatory agency) site and see who the owner is.
It really is no different than giving out the address for the company. Seems fishy, but by nature, I am a skeptic when it comes to the pennies.
Based on the disclosure and some other info I gathered, I still may be able to identify it. Will report the results.
Sounds like IR is busy: Just received this response to my question regarding the address to the coal property:
Dear Mr. XXX:
Regulation FD prevents us from disclosing material information that has not yet been made public. We can state that the coal rights are in the Lower Burrell, Westmoreland County, Pennsylvania, area and comprises two parcels totalling 1000 acres consisting of part of the upper and thick Freeport seams
new to the board, although Soapy knows me. Been reading the IBOX. Can anyone give me a link as to how they are planning on buying these companies? tia
Post of the Day:
Finally, i think some are getting the idea. RCCH needs new investors in order for the share price to go up. Problem: new investors see there is a string of missed timelines, no communication from jean, gagged TA, stale information and nothing that is verifiable. As such, those potential investors, that like to play the triple zips, move on to something more attractive.
Jean needs to throw a bone to create some excitement and attract investors.
Then existing shareholders have to hope that jean doesn't do a share dump stopping any upward movement.
All IMO
This is relevant to PYCT as it is trying to develop a premium product.
HEARD ON THE STREET, by John Jannarone
from The Wall Street Journal.
Procter & Gamble is being weighed down by its heavy reliance on premium products. That makes its richly priced stock a hard sell.
i keep waiting for the address of the coal property, hopefully that will be answered in tomorrow's meeting.
Also, please don't forget to ask how they are funding current ops.
ECC, another plausible variation could be based on tripping.
Maybe spaz was tripping in parent's basement and only thought he saw the mine.
Maybe qsplurge is spaz's dad and they "trip" together.
Something weird is going there.
ECC:
Please, there is alot of gray area.
Spaz = Qsplurge
Qsprlurge = spaz
Qsprluge = spaz and qsplurge
spaz = spaz
I see a lot of grey area in the above equations and many people could interpet them differently.
Such as, if the economy were good and gwenco was producing, qsplurge would equal qsplurge. If the economy were good and gwenco was not producing, then qsplurge would equal spaz.
Not with the ecomony hurting and no coal, qsplurge has to equal spaz and qsplurge.
Post of the Day:
1. See IWS, at least, found some office space to share in Canada. I called and can verify the "greeting". I ask for Gene, he was not in. I ask when he was expected, she did not know. I asked if he has ever been in, "I don't know". Left a message for him to reply to my emails about a meeting, conference call etc.
2. For the longs, at least an address with phone number is better than nothing. However, if good days are measured use this info, well it could be a long ride.
3. Still nothing from Claude Smith, but hoping Claude from Evalu-tech will answer my question regarding recent installations with IWS.
4. I hope it starts moving in the right direction for longs, but usually when the CEO is leaking info to a privilege few longs/posters, it is a sign of shenanigans at work.
Post of the Day:
1. Still no RCCH or any variation at the Canadian building.
2. I have emailed Claude Smith at IWS twice and left two phone messages asking, not even for a list, but to name 2 projects IWS has completed in the last 12-18 months. No reply.
3. Have sent an email requesting a meeting with Jean any time the last two weeks of August. Nothing back yet.
4. Dumar's post does not surprise me, why does a $15 billion conglomerate need a consultant to advise on a listing on the TSX. I am sure they have all the experience in-house, lol.
5. At least the president of Evolu-tech responded to my email. I have since asked him if they have partnered with IWS on any project over the last 12-18 months.
6. Lakeside Equipment is next on my hit list.
7. In my email to Jean, asking for a meeting, I gave him my company's conference call in number and pass code. Said he welcome to use it for a shareholder's call. It can handle up to 300 callers.
Gene should of picked QMRS as the new ticker. Quest Minerals Reverse Split.
I only followed the pennies for a few years, but not sure I have seen so many rs's in two years. Particularly when you know the end result, (i.e. back down to triple zips).
Poop's:
How did this get to a $45 billion thingy?
Clarification of News Release dated March 11, 2003
The Company previously reported, in part, "excellent progress towards setting up an important distribution program for its flushawayTM products in the huge $1.3 billion US market". The entity that the Company was negotiating with was N
O/S shares as of today: 1,162,945,271
O/S shares as of 5/19/09 863,364,471
issued since 5/19/09 299,580,800
capital raised at $.0005 $149,790
trading days in the period 52
avg. shares sold per
trading day. 5,761,169
Post for the day:
I will call again on the new HQ and report back tomorrow.
In the meantime, I will share with you some email correspondence and some of you can discuss the difference between being "affiliated with" versus being a "subsidiary"
Sent: 25 juillet 2009 18:13
To: info@evolu-tech.ca
Subject: Quick Question
Is Evolu-tech in any way connected to a small publicly traded company by the name of RCC Holdings. They are based in California and reportedly own some portion of a water treatment company, IWS or International Water. They say Evolu-tech is a strategic partner. Any information would be much appreciated.
Regards,
Response:
"We have a business relationship with International Wastewater Systems, which is affiliated with RCC Holdings. For information on RCC Holdings, go to their website at www.rccholdings.com, and you can find contact numbers for official information, of which I'm not privy."
Regards
Claude
Cashor hash:
I would agree it is a little confusing to follow what the status of the case is. However, I think the case in important and relevant. Most people don't have charges of fraud brought against them. Do they?
Maybe it is common is certain circles, but I have been in business for 20+ years and have never been sued and certainly not for fraud.
What's the old saying: "you lie with the dogs....."
Will be interesting to see if the Canadian building has a new name tomorrow. Maybe EZ Debt got ownership as part of a loan workout they were involved with.
But as of today, when I called (only building security around), no one heard of RCCH, Newton, or some of the other alledged subs.
Full disclosure: I did not inquire about a company by the name of "Jean Corp. or Jean Industries". Tomorrow I will ask.
Also, if I recall, poops is the historian though, one of the big 3 did contact flushaway about infringing on its patent. Poop's any comments.
DC:
Let me see if I understand your message. You don't need to re-read my post, but the company will? Have you talk to Hands and he said he was going to read my post? Or is it Pillay or the new CEO?
Please advise for clarity.
poop:
I am starting to "clamor for the company to raise capital", although I think they did yesterday. lol
You would know better than most, if CES if funding the majority of the testing, it can't be too big of a program. My understanding is that CES has no money either.
Dear Mr. XXX:
We apologize for the late delay in responding to you.
1. The subcontractors who actually perform the demolition will be required to provide a completion bond. Bidders on the demolition were required to demonstrate adequate capital availability.
2. There have been no material alterations in our position with respect to the coal rights. Perhaps its a nearby set of rights? If you have information that someone is marketing the coal properties, please provide us with more details so that we may investigate.
Investor Relations
Beacon Redevelopment Industrial Corp.
Some statements in this communication contain forward-looking information. These statements include, but are not limited to, statements with respect to the completion of transactions. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements.