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Trend22 you obviousley don't know alot about the market when there is an open 504.
This stock has been going down on a regular basis and there has been significantly more buying than selling. Thats what happens when there is an open 504 the MMs and company are looking for buyers to dump the shares on.
GM
The more people buy at this level the more they will drag it down.
The MMs are looking for buyers to off-load the shares.
GM
Tradingismylife that’s the big problem, isn't it.
''If there is nothing to talk about why waste my breath''.
We have watched the stock get beat into the ground for the last
3 1/2 months, with the o/s getting continually diluted and we get nothing from the CEO.
The CEO gave it the big RA,RA in his last 2 prs and said that we will soon here about developments, that’s when the price was at 1 cent - he has done nothing but dilute since then and crash the price. He hires you to be an inter-phase with investors and all we have had to this point is the o/s and float is increasing, he has made a couple of trips into Europe and this is an extremely risky play.
Didn't really state that in his PRs, did he ?
Apologies if I seem overly critical but he has answered very few questions through yourself - so what was the point accept to have a presence on these boards?
GM
Investor2008 looks like tradingismylife has moved onto another stock, RTGV to be specific(from profile) - maybe his work here is done ?
GM
Not pumping ASWD , do not own - do not own any pinks anymore. just came across the PR from another site. Thought it might be a good talking point with personnel from ESFS management. Ask them if they are involved and if it has something to do City of sports.
If you check posts from past I used to own ESFS, used to discuss ESFS potential with many longs still on the board. Believe this is one of the best pink plays in town - Honest management,no dilution, smart financing deal, great products/service, great technology, great market and the list goes on.
Best of luck
GM
Sorry here is the PR.
American Southwest Music Distribution Signs Definitive Merger Agreement to Acquire Ultimate Sports Resorts
Company Plans $5 Billion Construction of the One-Of-A-Kind Las Vegas Sports/Hotel/Casino Complex
American Southwest Music Distribution, Inc. (OTCBB:ASWD) announced today that it has signed a definitive merger agreement to acquire Ultimate Sports Entertainment, Inc. of Las Vegas, NV (www.ultimatesportsresort.com). The newly combined company will be renamed Ultimate Sports Resorts, Inc.
“We are extremely excited about the opportunity to merge with a visionary company in the process of building one of the most innovative projects in Las Vegas history. American Southwest has spent countless weeks evaluating the best opportunities which would enhance the value of our company for its shareholders,” said David Michery, CEO of American Southwest. “Once completed, this 116 acre all sports resort will be one-of-a-kind addition to Las Vegas as it will provide the first daytime, family friendly entertainment in the area with an unparalleled total sports experience suitable for all ages. We are pleased that Ultimate Sports has chosen to partner with American Southwest for this $5 billion venture.”
“Our build-out of 17 million sq ft. of `The Greatest Sports and Entertainment Destination in the World' requires a capital structure which includes the participation of Wall Street and the first tier banking community,” said Matt Rose, President and CEO of Ultimate Sports. “Achieving the project’s construction costs via the `private sector' has proven itself unrealistic. Once the determination was made to take our company public, a merger with American Southwest made perfect sense.”
Details of the merger were not released pending the approval of the shareholders of both companies.
About American Southwest Music Distribution, Inc.: American Southwest Music Distribution, Inc. (www.aswmd.com) is a publicly traded company partnering with Universal Records, a division of UMG Recordings Inc., to form a niche market in the production, marketing and distribution of fresh musical talent via traditional and nontraditional vehicles.
About Ultimate Sports Entertainment, Inc.: Ultimate Sports Entertainment, Inc. (www.ultimatesportsresort.com) is a privately held Nevada corporation in the business of developing and building an all encompassing total sports experience…“The Ultimate Sports Resort”. Components of the planned facility will include sports venues, sports activities, “Hall of Fame” quality sports memorabilia, 5,152 hotel rooms, 1 million sq ft. of convention space, 500 luxury condo’s and more.
Seen this PR from ASWD - don't know if I believe a company of ASWD size would be involved in something as big but interesting when you draw the comparisons with the Las Vegas city of sports planned project.
GM
Another day of buys greater than sells and the price falls, not a good sign. Must be a shit load of shares the MMs are desperate to get rid of.
GM
Anyone got anything on this one?
Club still open ?
Re-financing being completed ?
Club in receivership ?
GM
Probably cannot determine a buy, sell or what type of trade it is because it is on the grays. So for someone to say it is definitely buying is blowing hot air.
By the way anytime there has been any positive price movement in this stock it has been done on the back of relative small trades compared to what we have seen trading in the last couple of days. So the fact the that about 19m have traded at .0001 over the last 4 trading days does not signify buying.
GM
I checked this site yesterday and it has the trades going through as ? http://ih.advfn.com/p.php?pid=trades&cb=1204879573&java_vm=sun&java_vm_ver=1.4.2_03&fp=9.0.115&btn=s_ok&symbol=USOTC%3AKSWJ&s_symbol_search=USOTC%3AKSWJ
GM
How do you know someone is buying ? Where does it show you it is a buy and not a sell or MMs trading between themselves ?
GM
I think we have just hit all time lows.
GM
So who managed to sell 9m at .0001 over the last 2 trading days ?
GM
Geccos are you still able to contact the company and if so are they giving any update to the funding ?
Cheers GM
My mistake on the current MC at .009 it is circa $1.70m.
GM
Falco, in most shell scenarios you will have a private company wishing to go public, doing a deal with the owner Richard Rubin to buy the shell.
What they do with the O/S of the shell thereafter varies i.e how much they allow current shareholders of the float to own in the new company and their aspirations to the exchange their aiming for (stay on OTC or aim for the AMEX, NASD).
I have seen many shell take-overs / mergers and it differs in most occasions. Many r/s the O/S if they want the share price in the $ range and others do no not. I would think with the current o/s if a take-over happens the new CEO would probably R/S - not always a bad thing with a shell and for the shareholders (depends on the quality of the company).
I don't know if there is a deal in the works, but if there is, the best time for current shareholders is usually on the run-up after an announcement.
P.S I am not a shareholder just stumbled across it on another site and decided to do a little DD
GM
You basically have a clean reporting shell here with only about 20k net debt (which is very good), A/S is 910m (900m common and 10m preferred)and an O/S of 185m (62m held by non-affiliates) the balance held by Richard Rubin (officer and director).
The float shares (62m) must be held very tightly as it seems to move big on very little volume.
The current market cap is about $175k (@009)which is quite low for a clean reporting shell (with little debt).
If there is a deal in the pipeline it should run to decent levels if not then as I said 175k for a clean reporting shell is still cheap.
GM
The market is reacting well to the 10c payout and merger - PAVC 1cent and TCHH 2 cents, both down about 99% in the last year.
Wonder what ploy they will adopt next?
I will be absolutely shocked if the company pays 10c a share - if they don't I wonder how they will spin the news ?
Deal is off and we find ourselves in the pinksheets with an A/S and O/S to match - if that happens I believe the SEC will soon to follow.
GM
Last 6 month trading volumes.
Septemeber 3.6m, October 11.6m, Novemeber 13.1m, December 53.2m
January 50.2m, February 80.1m.
12 MMs trading the stock Most of the volume has went through UBSS and NITE, about 75%.
GM
Sorry I should have said the Butlers used to own 2m, I believe D.Readshaw / Carson Development now own the Company now .
GM
Was thinking of putting a little money into this one, was wondering if someone on the board could give me clarity over the O/S structure.
I see the O/S is circa 19m and the Butlers own 2m leaving the float circa 17m.
Does any other insiders own a significant part of the float or do the owners also own a different class of share ?
Cheers GM
papdooh what do you mean by that? - do you think the o/s has not been diluted?
Even Geccos who is believer in the company has stated the o/s is 902m - which was communicated to him by the company.
I believe it is even higher.
He has also stated that there is a group that are diluting behind the companies back and they failed to control that.
GM
pennypusher1 the sad truth is that the SEC and other regulatory bodies continue to let pink sheet owners flood the market with illegal and undisclosed shares and do nothing about it until the shareholders are totally bled dry, including the institutions. This could be easily averted with market system controls but everyone is making far to much money at our expense.
Also pinks are still public companies and therefore fall under the SEC rules and regs with regards to disseminating information to the investment community via PRs or other media.
If this was a NASD or DOW stock individual investors and fund mangers would already have civil actions taken out against the company.
GM
Seeker 1 Have you read the PRs?
Missleading statements:
Waste Recovery, Inc. Announces the Retirement of 1.5 Billion Issued and Outstanding Shares
Thursday September 27, 10:00 am ET
SANTA ANA, CA--(MARKET WIRE)--Sep 27, 2007 -- Robert R Susnar III, the newly appointed CEO of Waste Recovery, Inc. (Other OTC:WRII.PK - News) announced the retirement of 1.5 Billion shares of stock.
We are focused on getting our share price up and enhancing shareholder value," Susnar said in an interview today. "It is my belief that if we are in fact going to get this company on the right track we need to do everything in our power to make our shareholders money." According to Susnar this is the first step in many to come aimed at improving the cap structure of the company.
(Supposed to have retire 1.5 billion shares and focused on getting our shareprice up and enhancing shareholder value)
Since they have diluted the o/s significantly and the shareprice has dropped about 99%
October 1, 2007 - 9:20 AM EDT
"We are honored and excited about having the opportunity to take Waste Recovery, Inc. into a new and profitable direction," Susnar said in an interview today. "Both Mr. Chornomud and I are used to running profitable businesses and enhancing shareholder value. Over the coming weeks and months we plan on building this company into a national presence within our industry. When I see the only two publicly traded companies in our market segment, Rick's Cabaret and VCG Corp with stocks trading $12 to $13 range, I say why not WRII? It is our plan and our goal to follow in the footsteps of great companies like these."
(National presence and quoting companies with shareprice in the $12 to $13 range).
How the hell were they going to achieve that when they were stuggling to keep their own doors open and diluting the o/s?
October 17, 2007 - 9:00 AM EDT
WASTE RECOVERY, INC. (PINKSHEETS: WRII) -- DR Entertainment C.E.O. Robert R. Susnar III today announced that the company has been aggressively looking for and meeting with acquisition candidates in the Gaming and Adult Nightclub markets.
"As part of our growth strategy we are focused on growth through acquisition," DR Entertainment C.E.O. Robert R. Susnar III said in an interview today. "We are looking at a few of the smaller chains of gaming taverns as potential targets. Of course a lot will depend on the structure of the individual deal, but if successful we hope to have a firm foothold in the Gaming and Casino market within the year and the acquisition of an established chain would greatly accelerate this process. Acquisition will add top line revenue growth and be exceedingly helpful to investors." As clarification of an earlier press release the company has engaged council as the first step in the gaming application process to lay the ground work for their entry into casino gaming.
(Meeting with acquisition candidates - We are looking at a few of the smaller chains of gaming taverns as potential targets)
How were they going to finance these deals when they struggling to finance their own club and shareprice in the toilet ?
Stated many times in a PR.
The company currently owns and operates Minxx Gentlemen's Club, which has been voted the number one adult club in Las Vegas for 2007.
(Who voted minx the number one club - it had only been opened about 9 months when they started making these statements and was already in financial difficulties because of lack of business)
GM
Tradingsmylife give us one reason why shareholders shouldn't believe this is one big pump and dump. He releases 2 PRs and then no follow-up, tells shareholders they will be rewarded for their patience then dumps 10s of millions of shares and brings the share price down to .000.
gm
RL do you mean where can you access their last filing, which was 08/14/06 (10QSB)?
http://www.wallst.net/tools/tools.asp?qm_page=37374&qm_symbol=OLNK
gm
Amazing buys are actually bringing the price down on this stock.
MMs desperate to sell stock at the BID rather than the ask.
GM
seeker1 you can complain about missleading information being published by the company directors via PRs. Many companies get investIgated/suspended for that.
GM
Captain the issue you have here is the company is not releasing any information and people realise that there is some serious dilution going on.
Lets see what we got here.
1. An open 504 that the CEO is using to support company
expenses.
2. A CEO that is less than honest about the O/S structure i.e
it is a moving target heading North.
3. No PR about the finacial health and buisness plans for the
company that we thought we were going to get at the end of
Jan and now looks it won't come in by the end of FEB.
4. Claims in against the company and who knows what other debt
the company is carrying over from it's reporting days.
5. No indication of any revenue streams in the recent past and
current.
6. PPs that have incurred major % loss over the last few
months with no signs of improving.
7. No indication of funding for future business developments.
8. PRs stating that ''our shareholders should be rewarded for
their patience during the past year''and since that PR the
price has dropped over 90% and the O/S has increased by God
knows what.
9. The TA does not give out O/S information so no chance of
confirming the level of dilution.
10.Company assets that we have no way of confirming - how do
we know that the software system has critical value for the
holiday/travel reservation industry.
Visibility of this companies business and financial affairs
is ZERO.
GM
Question to the board - can anyone remember if the info published about the ITRM Auditor and legal council has been published under pinksheets ''company info'' for a while or is it new info ?
Just curious.
GM
Geccos do you know what the timescale is for the owners to confirm they have funding, especially with the recents events of auction and judge considering the appointment of a receiver?
GM
Looks like someone taking advantage of the low PPs/MC.
GM
Tradingsmylife is there any contracts he has set-up
in the U.S.?
Most companies tend to work their home market first before expanding into different territories.
GM
Neither do I Captain Jim , this is moving to 300m o/s and then look for another a/s increase.
GM
The CEO has really done a number on the stock.
When the MMs have buys and sells going through at the same pice something ain't right.
GM
Anyone selling off at .0001 today ?
GM