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Oklahoma1960,
The issue with the SEC suspension has to do with the late filing (not corporate viability). That was the only thing I was trying to address. My point was to show that (as John Simmonds said) a lot of work had already been done as a result of the Newlook audit through 2010. I don't know what it will take to get it completely done on the WLSA side, but a lot of work has been done.
Brad Herrin
Here is a link to the Newlook audited reports for 2009 and 2010:
http://www.cnsx.ca/Storage/1377/125531_NLI2010F.pdf
Note 3a) says:
"The accompanying consolidated financial statements include the accounts of the Company and its subsidiaries as listed in Note 1."
Note 1 lists Wireless Age Communications, Inc., along with several others subsidiaries.
Throughout the Notes to the report WLSA is consistently discussed in detail.
From the Independent Auditor’s Report found on page 2, Deloitte states:
"We believe that the audit evidence we have obtained in our audits is sufficient and appropriate to provide a basis for our audit opinion. In our opinion, the consolidated financial statements present fairly, in all material respects, the financial position of Newlook Industries Corp. as at December 31, 2010 and 2009, and the results of its operations and its cash flows for the years then ended in accordance with Canadian generally accepted accounting priciples."
The statement "in all material respects" includes the subsidiary WLSA. This matches what I was told by John Simmonds this morning that the audit of Newlook included the audit of WLSA through 2010. In addition, it was shared that during the audit of Newlook equal time was spent discussing Newlook and WLSA, and included investigations of all of the accounts in WLSA books and verification of WLSA bank accounts. I think this document and the Independent Auditor's statement speak for itself.
Brad Herrin
I briefly talked with John Simmonds this morning. His comment was that when Newlook was audited, so was WLSA. The audit on WLSA has been completed for 2008, 2009 and 2010. The only year remaining is 2011. He said that the Qs and Ks have to be done, but he wasn't too concerned about them. He also said that he has been in contact with the SEC.
Brad Herrin
Aletheia1,
With the SEC suspension, I now want to see the audited financials as much as you.
Brad Herrin
Renee,
Thanks for the link.
Brad Herrin
Aletheia1,
From the Press Release announcing Peter Murphy (earlier 2012):
"...Vertility Group of Companies Corporation's ("Vertility Group") Senior Management Team. These companies include Newlook Industries Corp. (CNSX:NLI), Wireless Age Communications Inc. (PINKSHEETS:WLSA), and other incorporated Vertility branded entities which have been in existence for over a year..."
As of this PR, WLSA and NLI were officially branded as part of the Vertility Group of Companies. To me, this means that the common management has common goals for each company, even though they are still separate legal entities. On the Crumb Rubber issue, it was my recollection that it was purchased by NLI and licensed to WLSA, who set up a license agreement with Dec Doran's Oil Spill group and arranged for production of the CR40 and CR40F with the manufacturer Covenant. We were told it was set up this way to take advantage of possible Canadian grants. Seems like a plausible explanation to me.
While I'm anxious to see the audited financials, I'm much more interested in seeing revenue generation from the recent business dcevelopment activities. There have been several PRs recently reporting credible and promising results.
Brad Herrin
Albert Einstein ought to know a think or two about the world being a dangerous place. Isn't he considered the "father of the atomic bomb"?
Brad Herrin
Aletheia1,
Coventry and A&F are not "inter-related family transactions". They are established manufacturers, who now obviously have a vested interest in the success of Vertility.
Brad Herrin
snowwhite,
I already know what I thought was the answer to my original question. I wanted to hear his opinion.
Brad Herrin
sdsun,
The last two times you said that John Simmonds was on vacation, there was a Press Release immediately after announcing some new business deal. First was Innovative Solutions and the next time was Coventry. Maybe he doesn't want to tell you where he is because he's not ready to announce whatever he's working on.
Brad Herrin
Aletheia1,
Don't get me wrong. I want to see the completed audited financials as much as anyone else. In the two recently announced manufacturing deals with Coventry and A&F, it will certainly help in the cost analysis side of these deals. However, on the benefit side, I think you can gain a lot of insight into Vertility's future potential independent of the financials. These two PRs identified the manufacturers for products in at least four markets:
1.) Rear loading dump trucks
2.) Ground water remediation units
3.) Waste-to-energy plant infrastructure
4.) Crumb Rubber products for oil spill industry
The financial statements are not required to do market research in these areas to determine revenue/earnings potential, existing competitors, Vertility's planned products and marketability, and the viability of the partnered manufacturers to deliver products and to deliver on John Simmonds' vision.
As far as a dedicated sales team, my guess is that this will be outsourced to a group that has expertise in this area, such as the Business Process Outsourcing group that was recently sold to Gamecorp that Vertility now has a vested interest in.
Brad Herrin
Aletheia1,
What do you think Vertility gains with this deal?
Brad Herrin
Aletheia1,
You asked: "how much dilution do we suffer and how much royalty did we give up?"
Good question, but I'd also ask: "how much did we gain from the deal?"
Brad Herrin
Aletheia1,
What A&F manufactures is exactly what I have been calling the waste-to-energy plant infrastructure (storage bins, shredders, conveyors, etc.). That is not trivial and is now an in-house piece of the puzzle. Prior to the Sunbay Energy acquisition (when they were still a privately held company) there was plenty of public press that gave a detailed list of the other experienced manufacturers that were planned to be involved in the construction of the plants. As far as financing goes, it was recently announced that it was anticipated that a Fortune 150 company would be involved in a Joint Venture. Back when the Sunbay Energy acquisition first occured, it was announced that the plan was that Vertility would retain a minority developer's share of each plant and the company doing the financing would get a majority share. I am assuming that is still true. In that way, Vertility gets something positive out of each project without adding shares or debt.
Brad Herrin
Aletheia1,
I thought that this latest PR also answered a few of your questions that you have raised.
1.) Previously you stated that the only way to finance acquisitions was through share equity or debt. Apparently, John Simmonds has come up with a third creative way by leveraging future potential by offering "an ongoing royalty" to Superior Waste Equipment for the rights to manufacture the rear loading refuse packer.
2.) You had asked how Vertility was going to come up with the expertise, manpower, and manufacturing capability required to manufacture these products. We now know that "the design, engineering, fabricating, fixturing, manufacturing and assembly of all Vertility Waste Equipment will be done at the Bolton Plant under the full time direction and supervision of Bruno Zuccato." That sounds good to me.
3.) Recently you stated that, "There is no waste to energy strategy". I think Mr. Zuccato answered that question by saying, "I am also excited about ... the future of Plasma Torch Gasification bringing an end to landfill and waste disposal sites." Apparently, there still is a waste-to-energy strategy and it still includes the plasma gasification torch.
Brad Herrin
Aletheia1,
Yes, I noticed that they had previously worked with Plasco. That's great! They have specific experience working on plasma gasification waste-to-energy plants.
I think this partnership is a significant milestone for Vertility. This now identifies the manufacturer for the waste industry trucks, the waste-to-energy plant infrastructure, and the ground water remediation units. This PR, along with the previous announcement of the Crumb Rubber manufacturer, now identifies who will be manufacturing all of Vertility's products.
I think this all bodes well for our prospects for near term revenue generation. I'm especialy looking forward to hearing about bags of Crumb Rubber coming off the assembly line and out the door!
Brad Herrin
Chiroman07,
Here's the 2011 Fortune 500 List.
http://money.cnn.com/magazines/fortune/fortune500/2011/full_list/101_200.html
To make the top 150 takes a revenue of $17 billion or more. I can see at least a couple of companies on the list who may be interested in partnering and investing large sums of money into waste-to-energy plants - companies that would benefit by selling their own products.
Brad Herrin
renosparks,
If Innovative Solutions had been an acquisition, then you might expect the info to be integrated into the Vertility web site. However, it clearly calls out this relationship as a partnership. So providing a link to their web site seems appropriate to me.
Brad Herrin
From the Vertility site:
"Vertility Innovative Solutions (VIS) through its partnership with Innovative Solutions Inc. provides its clients with cost control solutions based upon technologies that also deliver environmental benefits. To date, arrangements for nearly thirty unique technologies have been vetted and negotiated for the commercial applications in the Canadian marketplace. Innovative Solutions has established a seasoned professional technical sales organization to promote these technologies to clients across Canada and the US and is positioned to generate significant sales to customers seeking substantial cost savings through the use of energy and environmentally friendly technologies. The company is also working with leasing companies to establish finance programs that would enable customers to enjoy positive cash flows from these technologies almost immediately.
Visit Innovaitive Solutions Inc."
By the way, here are two Innovative Solutions YouTube videos for products that I think should have great market potential:
Aletheia1,
From the 3/2/2012 Press Release:
http://ih.advfn.com/p.php?pid=nmona&article=51465208
"Mr. Packer, former Chairman of CITGO Oil (U.S. Lubes), and current Chairman of Seaview Holdings LLC., Packer Financial LLC., and Chairman and CEO of Seaview Petroleum, the largest asphalt refiner on the US Eastern Seaboard stated, "Bruce is an outstanding addition to the Vertility Waste to Energy Team. As we move forward with our first Project in Saguenay, Quebec, and our second project - a Joint Venture with an international Fortune 150 Company in Northern Quebec, Wireless Age will have to significantly expand our Vertility Team. Although, I will be spearheading both initiatives, Bruce Luehrs will be our "point Man" - co-coordinating project management. Together, we will take the necessary steps in creating viable and sustainable financing g to see these two innovative and spectacular projects through to their conclusion."
Apparently Mr. Packer and Mr. Luehrs believe that Vertility Technology has a Waste-To-Energy initiative with two projects in Canada referenced and a viable financing plan possible. Perhaps you should ask them about their plan.
Brad Herrin
Aletheia1,
Have you seen the contract on the plasma gasification? How do you know about the performance clauses in this contract?
Salary? I think the number that you are using is from the days when there was an active retail wireless business.
Brad Herrin
Aletheia1,
As far as Rubber Crumb customers go, don't you think it's more important to satisfy our first customer's needs before we start worrying about what the next one will think. I know if I were looking to buy Rubber Crumb product, I'd just look at the manufacturing facility to determine availability and capability.
Brad Herrin
Aletheia1,
One of the original motivations in the Fanotech acquisition had to do with having the ability to manufacture the infrastructure (bins, sorters, shredders, conveyors, etc.) for the waste-to-energy plants. Perhaps this is still a goal.
Brad Herrin
asdfghj,
I don't see this recent announcement of entry into the waste equipment manufacturing business as anything other than the completion of the original goal to be in this business. There's always a Plan B.
Brad Herrin
Chiroman07,
I agree that people are waiting for the uplisting.
I disagree about the revenue generation having little effect. Getting the initial revenues from the Crumb Rubber production represents a lot of effort and a huge potential going forward. Once the cash flow begins, the easy part will be to increase production and improve profitability.
Brad Herrin
cancune,
I don't know how objective I am, but my objective was to point out that John Simmonds seems to be closing deals, which should bode well for our revenue generation.
I agree that the company seems to be in the right place at the right time, benefitting both the environment and the company.
From the earlier Press Release (3/30/12):
"...to produce more than 1,000 tons of CR40 this year. We expect our revenues by year end to be over $5M on CR40, CRF40 bulk products and other related products such as containment booms, portable tote bags and remediation filters..."
Based upon this projection, it looks like there is about $2.50 of revenue generated per pound of Crumb Rubber. From today's PR, if we estimate that production is 2 tons/day for 3 months and 10 tons/day for 3 months for the rest of 2012, then this equates to over $3.6 million in 2012 revenue (a low estimate) from just the Crumb Rubber.
Brad Herrin
Another John Simmonds "vacation", another deal closed. Last time was Innovative Solutions and now Covenant. I say keep the "vacations" coming. The ramp up to 10 tons/day on the Crumb Rubber Covenant deal will be very near term (Q3 2012).
Brad Herrin
Hedge Party,
I agree that the latest GAIMF PR stated that they were only acquiring the OC Communications Group. My objection was to the statement that they were to acquire EnWise, which I don't think they were. The group that they passed on was the OCHS Direct Marketing group, which had a two year license to sell the EnWise products and services.
Brad Herrin
Aletheia1,
There were two parts that were initially discussed in the Gamecorp acquisition - the OC Communications Group (Call Center) and the OCHS 2 year Joint Venture Direct Marketing group (Press Release below). It was this group that had a license to sell the EnWise products and services, but it is not EnWise (which was not part of the acquisition).
http://ih.advfn.com/p.php?pid=nmona&article=48493988
The only answers that I get are from Press Releases and other public sources. If I can read and understand the PRs and connect one PR to another, then you should be able to as well.
As far as Newlook being halted, the only thing I know is what someone else posted as a reason, which was that it was anticipated that some "material event" was in the works. That could either be a negative or a positive. We'll have to see.
Brad Herrin
Aletheia1,
I don't think EnWise was sold to Gamecorp. I think it was OC Communications Group, the business process outsourcing division (call center).
Brad Herrin
I thought the latest Press Release (April 23, 2012) included some interesting items:
1.) The appointment of Peter J. Murphy to "have exclusive control over the financing for the growth as well as the expansion through Mergers & Acquisitions" and the fact that "Mr. Murphy and his partners have been responsible for billions of dollars in environmentally and eco-friendly development projects".
I think this bodes well for both the short and long term prospects of getting the planned projects going.
2.) The definition of the "Vertility Group of Companies" to include WLSA, NLI, and the other Vertility branded entities.
While WLSA and NLI are still two different legal entities, this now clarifies that they each have a common goal and purpose, as well as a common management team.
3.) A detailed list summarizing what is now considered the "core businesses" should provide the road map for the current company priorities.
Brad Herrin
chouston,
You stated: "In that post I make mention of a company called Environmental Sentry Services Inc. which holds the patent on the rubber crumb technology".
Here is a link to the Canadian patent web site, which lists 4 patents for ESSI:
http://brevets-patents.ic.gc.ca/opic-cipo/cpd/eng/search/results.html?query=environmental%20sentry%20services&start=1&num=50&type=basic_search
All of the four patents relate to the application of recycled tires to various issues, but none of them relate to the patent on the rubber crumb technology itself. Could you please provide a reference for your claim?
Thanks.
Brad Herrin
Aletheia1,
I suspect that the truck and trailer service capability will be needed in-house for the anticipated buildup of the water remediation mobile units (trailers) business that was recently announced.
Brad Herrin
Wlsapope,
You said, "be part of the solution".
I'll see what I can do.
Brad Herrin
D theG,
Great news indeed!
I counted three revenue streams mentioned in the Press Release:
1.) Crumb Rubber products for oil spills
2.) Oil reclamation and processing from used oil spill products
3.) Groundwater remediation equipment units
This doesn't count the additional revenue streams possible from the Waste-To-Energy plants and Innovative Solutions (if EnWise is in fact no longer active).
Brad Herrin
Wow! WLSA was Twitterfied. Like I used to tell my kids, "In twenty words or less." Little did I know that I was preparing them for Twitter. Hopefully the "buzz" has died down a little, because otherwise the site is not very useful. I do like all the new investors that the buzz brought into the stock, so Thanks to that.
It was kind of useful, however, to re-read snippets of the Press Releases that I had forgotten - like the headquarters for the Waste-To-Energy projects is now in Blue Bell, Pennsylvania. That puts some operations outside Canada. I think that's a first for WLSA.
The other recent event that I found interesting was that while John Simmonds was "on vacation" (as SDSUN claimed), he found time to renew the relationship with Innovative Solutions. I like this company and the potential that their products represent. It's my guess that there is a higher margin available in these products than the EnWise products.
So we have three weeks and three PRs:
1.) Waste-To-Energy Plants (3/2/12)
2.) Crumb Rubber Fiber Oil Spill Products (3/13/12)
3.) Industial/Residential Energy Efficiency Products (3/23/12)
Brad Herrin
Sirlance,
No, I haven't had a chance to look into revenue potential. But from my previous post, the total cleanup cost of the BP Gulf of Mexico spill was $42 billion.
"Oil giant BP ... may have to foot the entire $42 billion clean up bill."
http://www.ibtimes.com/articles/288627/20120127/bp-gulf-mexico-15-billion-transocean.htm
I'm not sure what part of this will go to the oil containment and the oil absorbtion equipment, but I suspect it's a fairly large number. Also from the posts that Hedge Party provided, there are a number of spills that are occuring on a regular basis (most never make it to the press), so I think the industry is quite large.
With people like Dec Doran licensing the product and giving it high praise, I'm guessing that the demand will be significant and immediate.
Brad Herrin
Hedge Party,
Thanks for all the links to the Dec Doran articles - very impressive background, with experience on over 2000 oil and hazardous waste spills.
Also, interesting Press Release. Not only do we have a new division Vertility Environmental Engineering Corporation, but it already has it's first business with a license to Dec Doran's company.
Brad Herrin
fliier/Criminal Minds:
You said: "As far as the search goes Brad perhaps Criminal Minds can address that for you."
Until you (either fliier or Criminal Minds) can show me differently, I am going to take the search results provided by Criminal Minds as evidence that VRT Environmetal Consultants, Inc. existed on Aug. 9, 2011 well before the NLI PR on Feb. 2, 2012.
https://docs.google.com/file/d/0B45L0fYbp17SOTI2ZDUzNDYtYThkMi00MjRiLTk5YzgtMTMwNjM3N2I4NTll/edit?pli=1
Brad Herrin
fliier/Criminal Minds:
Flustered? No. Confused? Yes, just a little since post #7295 is my post, not yours as you claimed.
However, I can still sort it out. What I am talking about is your (fliier) post #7306 where you stated that you had previously mentioned ESSI and commented that they produce the same product as VRT. This post referenced your (Criminal Minds) post #7198 where you provided the name of ESSI as a company that claimed to have Patents and Patents Pending on the same product and processes as VRT.
Your (fliier) post #7287 had nothing to do with your reference in post #7306 to ESSI and the similarity of products between ESSI and VRT. It had to do with your search of NLI and WLSA Press Releases and your listing of John Simmonds projects that you thought had unfavorable outcomes. You listed ESSI as one example of these projects, even though it has never been mentioned in a Press Release or anywhere else publically that I know of.
Where did you get your information for that post?
Brad Herrin
fliier/Criminal Minds:
1.) You stated: "I merely posted names of various activities including ESSI –so what."
Like I said before, fliier took credit (3/6/12) for a statement made by Criminal Minds (2/21/12). Posting here using two different aliases isn't allowed. The other comment regarding ESSI made by fliier (3/5/12) had to do with search results of the NLI and WLSA Press Releases:
"To satisfy my curiosity I reviewed the market wire announcements for WLSA and Newlook which seem to be inseparable twins. I found a lot of good stuff, mostly dead issues like the Port Hope & Miramichi NB WTE projects, Copernic, Vecture, Fanotech, Essi, Apollo and the latest victims Enwise, OC Communications and possibly others unannounced."
Given that ESSI never appears in any NLI or WLSA Press Release as you claim, I am wondering if you are actually revealing insider information here on this board with that statement. Would that qualify as a "so what"?
2.) You stated:
"The PR stated, “Newlook Industries Corp. announced today the acquisition of 100% of all classes of all shares in VRT Environmental Consultants Inc., a Toronto based Company.” THAT STATEMENT IS FALSE – THERE WAS NO COMPANY."
From my earlier post I asked the question below which still hasn't been answered. It appears from Criminal Minds post that there was a VRT Environmental Consulting, Inc. on Aug 9, 2011, which would be contrary to your claim:
"Here's a link to the doc that Criminal Minds provided, which looks to me like it has two entries for VRT Environmental Consulting, Inc. - one dated Aug 9, 2011 and the other Feb 2, 2012. I have no idea what these search results represent, that's why I asked the question, which by the way didn't get answered."
https://docs.google.com/open?id=0B45L0fYbp17SOTI2ZDUzNDYtYThkMi00MjRiLTk5YzgtMTMwNjM3N2I4NTll
I'm still interested in getting an answer to my question from either Criminal Minds or fliier about these search results, and an explanation of why we should ignore them. The best I can tell is that they are the results of a paid search provided by a Canadian entity which is the keeper of all Canadian corporate names.
Brad Herrin