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Hi Archie! HRCT made a move today. Up .07. How's things on your end? Working hard? Or hardly working? Ha! Miss your posts around here. I can't help Muel out that much. I'm working for a living. LOL. Take care.
2desire
WPTE DD (As always do your own DD)
Company Overview:
WesPac Technologies, Corp., headquartered in Dallas, is a company whose primary business is in the purchase of producing oil and gas properties, as well as to lease, drill, complete and produce oil and gas wells. The company owns and runs numerous production fields around he United States. In addition, the company provides a number of services to other companies in the oil industry. WesPac has also developed a proprietary state-of-the-art technology that will revolutionize oil and gas production. The high-technology device, dubbed the WP-2000 Stimulator Tool, increases production by as much as 50 to 70 percent of total oil in place with no ecological damage. WesPac intends to market use of its proprietary technology to other gas and oil operators through licensing and service agreements. WesPac's objective is to become a leading company in its space and focus on domestic production and US reserves but will consider involvement in viable foreign properties as well to expand its operational footprint and drive revenue and shareholder value.
Business Operations:
WesPac Technologies is quickly becoming a leader in oil and gas exploration and Enhanced Oil Recovery (EOR) operations. It has acquired or agreed to acquire wells and fields throughout the United States and is expanding its operations internationally by conducting joint-venture partnerships to take advantage of the untapped energy production opportunities that are available in Latin America.
South Louisiana
WesPac Technologies, Corp. recently signed a contract to purchase, re-enter and develop an oil and gas property from El-Oil, Ltd. The purchased properties consist of 1,400 acres within the Bend of the River Field in South Louisiana and are stratigraphically equivalent to the Wilcox formation at the nearby Foroche Field.
Production is expected to be around 300 barrels of oil per day and 800 Million Cubic Feet of Gas per day. Total reserves in the field are projected at 10 Million Barrels of Oil and 26 Billion Cubic Feet of Gas. These reserves should generate approximately $230,000 of cash flow per month. The timing of these purchases is significant due to high oil and gas prices and WesPac's ability to enhance marginal fields to profitability. This field compares similarly to the nearby Foroche Field, which has produced 29 Million Barrels of Oil and 129 Billion Cubic Feet of Gas.
Contra Costa County, California.
WesPac Technologies has entered into a joint-venture agreement with Olympic Resource Ltd. (CDNX:ORL) to drill and complete a new extension of the South Oakley Field, in Contra Costa County, California. The Disco Inferno No. 1-1 will be drilled to a depth of 8,200 feet, offsetting several prolific gas wells.
Reserves are expected to be more than 8 billion cubic feet of gas, with daily production of approximately 7 million to 8 million cubic feet of gas. At the current price of $15 per thousand, total reserves are estimated to be $120 million.
Other partners in the project will be Sunset Exploration Inc., Production Specialties Co. and Vaughan Exploration Inc., with the well being spudded by Jan. 19, 2001.
Latin America
WesPac is taking on a more ambitious role in Latin America. The company is finalizing a joint venture with another public company acquiring an oilfield with Petro Ecuador. The field consists of nine (9) producing wells making approximately 2,200 Barrels of Oil Per Day (BOPD). There is a production facility in place capable of delivering 15,000 BOPD. Upon initial production each of these wells produced over 3,000 BOPD. Each of these wells have not been stimulated or re-worked since initial production. Upon stimulation and re-work of these wells production is estimated to be collectively up to 15,000 BOPD.
The WesPac joint venture has commitment to take over this field for approximately $5,000,000 over the next three years. They will operate, re-work and develop the field. Existing production will be shared on a 50/50 percentage basis with Petro Ecuador. According to seismic and radiometric interpretation this field extends over an additional 75,000 acres and connects with 6,000,000,000 Barrel Field to the South. This field has reserves of 20 million barrels "proved develop producing" (PDP) and 40 million barrels of "proved undeveloped" (PUD). This is the first of many fields WesPac intends to add to their reserve base.
Technological Development:
New Technologies in EOR
A major concern in the oil producing industry is declining production in recovery operations. Enhanced Oil Recovery or EOR has included various methods such as steam, gas and water flooding, fracturing, solvent and acid injection and mechanical scrapers. Some methods have an upside in terms of no potential ecological damage, while other methods can be very costly and involve the use of acids and chemicals. At best, oil recovery can be enhanced as much as 50 to 70 percent of the total oil in place.
WP-2000 Stimulator Tool
WesPac Technologies, Corp. and ORC Capital Corporation, Inc., a Dallas-based inventor, have completed their agreement to market the WP-2000 Stimulator Tool. ORC Capital designed and developed the WP-2000 after many years of research in applications in EOR. While each well must be analyzed individually, the application of the WP-2000 has proven results from marginal wells and/or fields that normally would be deemed un-recoverable. Not only is it effective, it's also an economical treatment to the well bore and reservoir.
The WP-2000 Stimulator Tool can be run on 1 ½ to 3 ½ tubing works string to the bottom of the perforation during a scheduled work-over. The required pump can be fed by a power fluid accelerated and compressed by the aerodynamics of the WP-2000 Tool scanning across the perforations creating the effect known as cavitation. Boiling occurs when the pressure of the formation of the cavities, which are filled with either fluid or gases. Cavitation zones expand by increasing velocity. The formed cavities fracture when fluid at the highest pressure is reached, which instant condensation and captivation is reached. Zone fracturing of the formation is accompanied by compression of sonic waves.
Positive results of the WP-2000 are as follows:
The stimulator tool has ecological benefits based on efficient cleaning without the use of chemicals or acids.
Due to cavitation effect, high velocity jets penetrate perforations performing like efficient drills, enlarging channels and increasing surface areas.
The high velocity effect of the tool removes debris, such as calcium carbonate, salt, sand, mud, etc, which block perforations and damage that could have occurred during original drilling. The WP-2000 is regarded as one of the most cost-effective methods available for the oil and gas industry for the new millennium. The WP-2000 has been tested on tests cites throughout West Texas with stellar results. WesPac is continuing use of its WP-2000 Stimulator Tool with continued success and has received many inquiries from other oil companies for its use through licensing and services agreements.
Management Summary:
The strength of WesPac's management team, headed by Terry Tecco, stems from a combination of years of experience and expertise in managerial, financial and technical areas. In addition, the leadership and alignment characteristics of the executive management team are poised to take advantage of the current economic conditions in the oil and gas industry to effect a progressive and rapid fiscal growth of the Company.
In addition, WesPac Technologies, has several consultants available as it becomes necessary to render their services in the areas of geology, geophysics, landmen and petroleum engineers.
Revenues and Financials:
WesPac's recent domestic contracted acquisitions will increase their monthly production to approximately 450 barrels per day - grossing about $300,000 per month. The field in Ecuador will produce over 7,000 barrels per day and gross close to $5 million per month to WesPac's interest.
Currently trading on the OTC pink sheets under the stock ticker WPTE, the corporation is now in the process of filing its Form 10's to become a fully reporting company and anticipates to be listed on the NASD OTC Bulletin Board in the near future.
52 Week High 0.51
52 Week Low 0.021
100-Day Avg. Vol 58,078
PSP Outlook:
WesPac Technologies is doing everything that is necessary for business success in the oil and gas industry. It is increasing its operational footprint by expanding its production facilities base. It has adopted advance technological capabilities and is utilizing leading-edge production tools, which coincidentally was developed by the company, to further increase yields and licensing opportunities. The company continues to build alliances and production partnerships through out the U.S, Canada and Latin America to further build out its network of wells and fields. As a result of these progressions, it is not hard to see that the Corporation is lead by a superior executive management team, headed by one of the industry experts, Terrence A. Tecco. With WesPac's growth and strategy successes, initiatives, and ambitions it is poised to definitely grow beyond the stature of a regional oil and gas production company.
In its current efforts to be listed on the NASD OTC BB it has confirmed its commitment in being a reportable company that seeks to heighten shareholder confidence, awareness and value. With energy being a staple of society and economics, the oil and gas industry will remain a stronghold for investors. For companies that excel in production and business expansion, like WesPac Technologies, shareholder value and revenue growth will go hand in hand.
http://www.pennystockportal.com/profiles/wpte/index.htm
LASTEST NEWS
Company:
http://www.cnbc.com/news/news/conews.html?sym=WPTE
Industry:
http://www.oilandgasinvestor.com/ogi/briefs.htm
WPTE up 51.92% today. It was a watch on Archie's Corner last week. Good luck to all who are following this.
2desire
Mirror Image News (XLA)
http://business-times.asia1.com.sg/bizit/story/0,2276,3323,00.html
Cheers,
2desire
ETCR up 54% today! Did anyone buy it? Too bad if you didn't. Maybe we'll catch the next one. I think the interest in the OTCBB is increasing. We should see more stocks on the rise. Good luck all.
b/r 2desire
Great Article Muelhead! Looks like a little patience w/ the penny oil & gas stocks will pay off in the long-term. Have a great day. I'm off to work!
Cheers, 2desire
Received this in e-mail. Bars being watched. Do your own DD.
SPECIAL NEWS ALERT - ETCR's SUBSIDIARY'S VPS SYSTEM WILL PROVIDE MEANS OF TRACKING WHO IS WRITING, FILLING AND OBTAINING PRESCRIPTION DRUGS. ACCORDING TO NBC NIGHTLY NEWS AND NY TIMES PRESCRIPTION ABUSE - RECENTLY ASSOCIATED WITH THE ABUSE OF OXYCONTIN ("oc") PAIN MEDICINE - IS A SERIOUS PROBLEM. ETCR'S SYSTEM CAN HELP ELIMINATE FRAUDULENT PRESCRIPTIONS!
ETCR's subsidiary Verified Prescription Safeguards has a proprietary patent pending system in development that uses the Internet to create an encrypted Internet link between doctors' offices and pharmacies to facilitate secure prescription transmission. When the system is in operation, physicians, pharmacies and law enforcement agencies will finally have a solution to a growing national problem - PRESCRIPTION DRUG FRAUD AND ABUSE.
Chart at close on Friday 4/6/01
http://www.bigcharts.com/intchart/frames/frames.asp?symb=etcr&time=&freq=
Link to SEC filings
http://10kwizard.ragingbull.com/fil_list.asp?cik=830741&alld=ON
Good luck and Happy Trading!
2desire
Article from today's Charleston Post & Courier:
Boss hog: Troubleshooter to lead Struthers
Sunday, April 8, 2001
BY JIM PARKER
Of The Post and Courier staff
Struthers' new president Mariano M. Raigo wants to make two things clear.
Although he does not have the "chief executive" designation of his
predecessor, "I will be running the company," Raigo said. "It's nothing more
than a title."
But Raigo said his role as top officer does not mean he's the featured
performer. The stars are the 42 other employees, Raigo said. "I'm the bus
driver."
Charleston-based Struthers raises and sells hogs using genetic breeding,
sells semen, develops biotech devices for artificial insemination, and
markets and sells its Tender Prime pork products from its own swine herds and
those of family farmers.
Raigo, an Asheville, N.C., business consultant and troubleshooter, was named
president March 19. It's been a busy few months for the young company:
• On April 2, publicly traded Struthers released its earnings report for
2000; the company lost $3.2 million on $3.49 million in sales.
• In the report, Struthers disclosed it had reached a deal in late March for
a $10 million infusion from Alpha Venture Capital Inc., an offshore company
that invests in emerging smaller and midsized companies. (Alpha, for
instance, recently provided $40 million in equity financing to Science
Dynamics Corp., a New Jersey-based online infrastructure company). In
exchange, Alpha gets stock in Struthers.
• The financial news came on the heels of Struthers' five-member board making
a series of top-level changes, including Raigo's appointment.
It ousted Douglas W. Beatty as president, chief executive and chairman. Rhett
C. Seabrook, the company's vice president, no longer has the duties of
secretary and chief operating officer. Seabrook and Beatty, whose background
includes working with motivational speaker Tony Robbins, spearheaded
Struthers' move in late 1998 from Canada to Charleston - which is hometown to
both. They remain on the board.
The new chairman is Richard S. Lane, the company's legal counsel. The new
secretary/treasurer is Dennis Gourley, a doctor of veterinary medicine and
designer of a scope used to assist in nonsurgical reproductive procedures.
The management shuffle followed weeks of speculation, primarily from
shareholders on Internet message boards.
Less than four years old with no appreciable sales until fall 1999, Struthers
nonetheless is one of the more heavily traded stocks on the Nasdaq bulletin
board. It's not uncommon for 1 million or more shares to change hands in a
day. It has 26,000 stockholders, including 2,000 in South Carolina.
Shareholder rumblings escalated in recent months after the company struggled
with its first-time federal securities filings and then reported quarterly
earnings losses. In the meantime, Struthers' stock price - which had risen as
high as $1.21 a share last April - sagged to 9.5 cents a share in March. It
traded last week around 10 cents.
"I think it's a great company and is going to be three years from now," said
Keith Smith, an X-ray technician from Calhoun, La., who recently sold 30,000
shares of Struthers stock while holding onto 20,000 shares.
"I was kind of sucked in with Doug Beatty's charm," he said. The talk last
year was that the stock, trading at 40 cents a share in February 2000, would
zoom as high as $5, Smith recalled. "I was so in love with the company."
Instead, the price tanked.
BIG PLANS
Beatty said Thursday the management change came in an emergency board meeting
by phone. He said it followed a board meeting where he "adamantly opposed"
plans to relocate headquarters to the Midwest to be closer to the company's
farm operations. Beatty said he didn't want to uproot Charleston's
six-employee staff, and noted that sales of its trademarked Tender Prime pork
are primarily in the Southeast.
He said the change in management made sense, since he does not plan to leave
Charleston.
Beatty said he wants to stay involved with Struthers in developing its
business plan.
He said Raigo has helped the company for the past six months integrate its
financial records and computer systems after a series of acquisitions in 1999
and 2000.
"I'm sure he will do a fine job," Beatty said.
The former chief executive said he's most proud of taking over a company that
in 1998 was in tough financial shape, trading a half-cent a share and with
"1,000 unhappy shareholders." In three years, it grew into a diverse company
with 24,000 shareholders and established biotech, supply and swine-breeding
businesses.
In a pre-ouster interview March 6, Beatty said he knew all about the Internet
rumors, but at that time denied he was on the way out.
He acknowledged that Struthers struggled last year. "I'm glad 2000 is behind
us," he said. "Definitely, 2001 is seen as a great year for Struthers," he
said.
Struthers moved into a new expanded office last fall and recently introduced
a new logo with the design of a lighthouse and the slogan "World Leaders in
Animal Reproductive Technology."
Meanwhile, the company planned to come out with catchy products for Tender
Prime such as a half-sized ham called a "Hamlet," he said. Chefs at Johnson &
Wales University whipped up dishes using its meats. Tender Prime pork chops
showed up on the menu at Port City Grille, he said.
Beatty also said he was working on a deal to market Tender Prime meats via TV
commercials produced by the National Shopping Club, whose members can order
food and other goods.
"The TV is a wonderful medium," he said last month.
TIME FOR A CHANGE
In explaining the management shuffle, Raigo said, "The board analyzed
different things. They came to the conclusion it would be better for Mr.
Beatty to pursue other interests. They approached me."
Lane, a New York attorney who helped with the company's securities filings,
said the board selected Raigo because he was seen as the right man for the
job. "So far, he is," the chairman said.
Raigo, in prepared remarks, said, "My immediate goal is to unify our
subsidiaries and focus on the basic concept for which this company was
founded, namely reproductive biotechnology.
"I want the world to know about our high health breeding programs, including
our artificial insemination and embryo transfer."
The new president did not elaborate much in an March 28 interview with The
Post and Courier. "I don't want to telegraph my plays," he said.
He was noncommittal about where the company will be headquartered.
Shareholders have speculated for weeks about a move to the Midwest to be
closer to the operations in Minnesota, Iowa and South Dakota. "We'll have a
presence in Charleston," Raigo said, adding that Struthers also likely will
have a base of operations in the Asheville area.
The new president said that Struthers intends to be ready to assist farmers
worldwide to bounce back from infectious outbreaks such as mad cow and
foot-and-mouth disease.
"When the smoke clears with all the disease going on, we will be able to
supply," he said.
The company also wants to capitalize on its genetic breeding programs, which
"gives the smaller farmer the advantage of the next generation technology,"
he said.
Struthers, meanwhile, has set up corporate entities in Germany and in The
Philippines and is open to "any country that wants our product," Raigo said.
In its first two years as an operating company, Struthers grew through
mergers. The company will continue to look at acquisitions but, "I have
enough on my plate to focus and consolidate the company," he said. Raigo
indicated that goods and products would more likely be sold through
traditional supply routes such as meat packers rather than straight to
customers.
"The direct marketing will not happen the way that he (Beatty) envisioned
it," he said.
The remarks reflect Struthers' earnings report, which noted that sales slid
last year when the company shifted focus from a wholesale meat supplier to
the direct sales strategy.
Meanwhile, the company said it planned to vastly expand its swine herds this
year and to promote its biotech and genetics products and services.
Raigo acknowledged he won't have time to field every call or e-mail from
shareholders. But he said they will be kept informed by way of federal
securities filings, press releases, a newsletter and through the company's
Web site at www.struthersinc.com.
Lane, meanwhile, said he's optimistic about 2001 and is unfazed by the
company's losses last year. "We look forward to move the company, certainly,
into the plus column," he said.
COMPANY PROFILE
Formed: 1997
Headquarters: Charleston
Employees: 43
Officers: Mariano M. Raigo, president; Richard S. Lane, chairman; Dennis
Gourley, secretary/treasurer; Rhett C. Seabrook, vice president; Bertram K.
Remley, chief financial officer.
Financials (2000): Lost $3.2 million on $3.49 million in revenues.
Operations: Boar stud farms in Bricelyn and Wells, Minn.; research farm and
lab in Spencer, Iowa; production center in Waukon, Iowa, for its Tender Prime
brand of pork.
Acquisitions: (1999) Minnesota-based Legred Genetics, which manages swine
breeding herds; (2000) Iowa-based Elite Visions Inc., proprietor of the
Gourley Scope device used in delivering semen and transferring embryos
without surgery; and Sioux Falls, S.D.-based Muller A.I. veterinary supplier.
Financing: Reached agreement for a $10 million line of credit from offshore
lender Alpha Venture Capital Inc. in March.
http://www.charleston.net/pub/news/bizpage/boss0408.htm
Article from today's Charleston Post & Courier:
Boss hog: Troubleshooter to lead Struthers
Sunday, April 8, 2001
BY JIM PARKER
Of The Post and Courier staff
Struthers' new president Mariano M. Raigo wants to make two things clear.
Although he does not have the "chief executive" designation of his
predecessor, "I will be running the company," Raigo said. "It's nothing more
than a title."
But Raigo said his role as top officer does not mean he's the featured
performer. The stars are the 42 other employees, Raigo said. "I'm the bus
driver."
Charleston-based Struthers raises and sells hogs using genetic breeding,
sells semen, develops biotech devices for artificial insemination, and
markets and sells its Tender Prime pork products from its own swine herds and
those of family farmers.
Raigo, an Asheville, N.C., business consultant and troubleshooter, was named
president March 19. It's been a busy few months for the young company:
• On April 2, publicly traded Struthers released its earnings report for
2000; the company lost $3.2 million on $3.49 million in sales.
• In the report, Struthers disclosed it had reached a deal in late March for
a $10 million infusion from Alpha Venture Capital Inc., an offshore company
that invests in emerging smaller and midsized companies. (Alpha, for
instance, recently provided $40 million in equity financing to Science
Dynamics Corp., a New Jersey-based online infrastructure company). In
exchange, Alpha gets stock in Struthers.
• The financial news came on the heels of Struthers' five-member board making
a series of top-level changes, including Raigo's appointment.
It ousted Douglas W. Beatty as president, chief executive and chairman. Rhett
C. Seabrook, the company's vice president, no longer has the duties of
secretary and chief operating officer. Seabrook and Beatty, whose background
includes working with motivational speaker Tony Robbins, spearheaded
Struthers' move in late 1998 from Canada to Charleston - which is hometown to
both. They remain on the board.
The new chairman is Richard S. Lane, the company's legal counsel. The new
secretary/treasurer is Dennis Gourley, a doctor of veterinary medicine and
designer of a scope used to assist in nonsurgical reproductive procedures.
The management shuffle followed weeks of speculation, primarily from
shareholders on Internet message boards.
Less than four years old with no appreciable sales until fall 1999, Struthers
nonetheless is one of the more heavily traded stocks on the Nasdaq bulletin
board. It's not uncommon for 1 million or more shares to change hands in a
day. It has 26,000 stockholders, including 2,000 in South Carolina.
Shareholder rumblings escalated in recent months after the company struggled
with its first-time federal securities filings and then reported quarterly
earnings losses. In the meantime, Struthers' stock price - which had risen as
high as $1.21 a share last April - sagged to 9.5 cents a share in March. It
traded last week around 10 cents.
"I think it's a great company and is going to be three years from now," said
Keith Smith, an X-ray technician from Calhoun, La., who recently sold 30,000
shares of Struthers stock while holding onto 20,000 shares.
"I was kind of sucked in with Doug Beatty's charm," he said. The talk last
year was that the stock, trading at 40 cents a share in February 2000, would
zoom as high as $5, Smith recalled. "I was so in love with the company."
Instead, the price tanked.
BIG PLANS
Beatty said Thursday the management change came in an emergency board meeting
by phone. He said it followed a board meeting where he "adamantly opposed"
plans to relocate headquarters to the Midwest to be closer to the company's
farm operations. Beatty said he didn't want to uproot Charleston's
six-employee staff, and noted that sales of its trademarked Tender Prime pork
are primarily in the Southeast.
He said the change in management made sense, since he does not plan to leave
Charleston.
Beatty said he wants to stay involved with Struthers in developing its
business plan.
He said Raigo has helped the company for the past six months integrate its
financial records and computer systems after a series of acquisitions in 1999
and 2000.
"I'm sure he will do a fine job," Beatty said.
The former chief executive said he's most proud of taking over a company that
in 1998 was in tough financial shape, trading a half-cent a share and with
"1,000 unhappy shareholders." In three years, it grew into a diverse company
with 24,000 shareholders and established biotech, supply and swine-breeding
businesses.
In a pre-ouster interview March 6, Beatty said he knew all about the Internet
rumors, but at that time denied he was on the way out.
He acknowledged that Struthers struggled last year. "I'm glad 2000 is behind
us," he said. "Definitely, 2001 is seen as a great year for Struthers," he
said.
Struthers moved into a new expanded office last fall and recently introduced
a new logo with the design of a lighthouse and the slogan "World Leaders in
Animal Reproductive Technology."
Meanwhile, the company planned to come out with catchy products for Tender
Prime such as a half-sized ham called a "Hamlet," he said. Chefs at Johnson &
Wales University whipped up dishes using its meats. Tender Prime pork chops
showed up on the menu at Port City Grille, he said.
Beatty also said he was working on a deal to market Tender Prime meats via TV
commercials produced by the National Shopping Club, whose members can order
food and other goods.
"The TV is a wonderful medium," he said last month.
TIME FOR A CHANGE
In explaining the management shuffle, Raigo said, "The board analyzed
different things. They came to the conclusion it would be better for Mr.
Beatty to pursue other interests. They approached me."
Lane, a New York attorney who helped with the company's securities filings,
said the board selected Raigo because he was seen as the right man for the
job. "So far, he is," the chairman said.
Raigo, in prepared remarks, said, "My immediate goal is to unify our
subsidiaries and focus on the basic concept for which this company was
founded, namely reproductive biotechnology.
"I want the world to know about our high health breeding programs, including
our artificial insemination and embryo transfer."
The new president did not elaborate much in an March 28 interview with The
Post and Courier. "I don't want to telegraph my plays," he said.
He was noncommittal about where the company will be headquartered.
Shareholders have speculated for weeks about a move to the Midwest to be
closer to the operations in Minnesota, Iowa and South Dakota. "We'll have a
presence in Charleston," Raigo said, adding that Struthers also likely will
have a base of operations in the Asheville area.
The new president said that Struthers intends to be ready to assist farmers
worldwide to bounce back from infectious outbreaks such as mad cow and
foot-and-mouth disease.
"When the smoke clears with all the disease going on, we will be able to
supply," he said.
The company also wants to capitalize on its genetic breeding programs, which
"gives the smaller farmer the advantage of the next generation technology,"
he said.
Struthers, meanwhile, has set up corporate entities in Germany and in The
Philippines and is open to "any country that wants our product," Raigo said.
In its first two years as an operating company, Struthers grew through
mergers. The company will continue to look at acquisitions but, "I have
enough on my plate to focus and consolidate the company," he said. Raigo
indicated that goods and products would more likely be sold through
traditional supply routes such as meat packers rather than straight to
customers.
"The direct marketing will not happen the way that he (Beatty) envisioned
it," he said.
The remarks reflect Struthers' earnings report, which noted that sales slid
last year when the company shifted focus from a wholesale meat supplier to
the direct sales strategy.
Meanwhile, the company said it planned to vastly expand its swine herds this
year and to promote its biotech and genetics products and services.
Raigo acknowledged he won't have time to field every call or e-mail from
shareholders. But he said they will be kept informed by way of federal
securities filings, press releases, a newsletter and through the company's
Web site at www.struthersinc.com.
Lane, meanwhile, said he's optimistic about 2001 and is unfazed by the
company's losses last year. "We look forward to move the company, certainly,
into the plus column," he said.
COMPANY PROFILE
Formed: 1997
Headquarters: Charleston
Employees: 43
Officers: Mariano M. Raigo, president; Richard S. Lane, chairman; Dennis
Gourley, secretary/treasurer; Rhett C. Seabrook, vice president; Bertram K.
Remley, chief financial officer.
Financials (2000): Lost $3.2 million on $3.49 million in revenues.
Operations: Boar stud farms in Bricelyn and Wells, Minn.; research farm and
lab in Spencer, Iowa; production center in Waukon, Iowa, for its Tender Prime
brand of pork.
Acquisitions: (1999) Minnesota-based Legred Genetics, which manages swine
breeding herds; (2000) Iowa-based Elite Visions Inc., proprietor of the
Gourley Scope device used in delivering semen and transferring embryos
without surgery; and Sioux Falls, S.D.-based Muller A.I. veterinary supplier.
Financing: Reached agreement for a $10 million line of credit from offshore
lender Alpha Venture Capital Inc. in March.
http://www.charleston.net/pub/news/bizpage/boss0408.htm
Hi Munedawg and all. It's been awhile since I've posted. Not much to say. Waiting on management to release financials. I look for them on April 16. The best idea of how things are going will be when Q1 is released. That will give us some comparisons on revenue and growth. The bankruptcy issue put a cramp in us. Call it a "charlie horse" .LOL. I think we are gaining some strength now as of close on Friday. Lets hope we go up from here. Cheers.
2desire
Thanks Netshoe for the post. I guess most are not pleased at any price. lol. Take care. Long and strong.
2desire/ KyGal63
muelhead and Archie
You've got to watch this new sitcom. My husband and I watched it Wednesday night. What a hoot! Here's the write-up. I know you'll find this rhttp://www.msnbc.com/news/555824.asp?bt=prgy#BODYight up your alley, Archie. Ha!
Cheers! 2desire
Struthers Inc. lost $3.2 million in 2000 as the Charleston-based pig biotech business retooled product offerings and rang up costs running its boar stud farm.
The publicly traded company totaled $3.49 million in sales last year, its first full year in operation. That compared with a $617,061 loss on $33,051 in revenues in 1999. It started as an operating company in November 1999.
Struthers released its earnings report this week. The company's stock has slid 80 percent in the past year. Last month, the board removed Douglas W. Beatty as chief executive and named Asheville consultant Mariano M. Raigo as president.
The company said it had an increase in expenses.
The higher costs stemmed in part from operating the stud farm, which opened last September in Bricelyn, Minn. The facility started up too late in the year to report any revenue in 2000.
Also contributing to the rise in expenses were "changes in the mix of products and services," the company said.
Struthers reported a drop in hog sales in the second half of the year as the company shifted from shipments to wholesalers to direct marketing to customers. Also, sales of young sows, known as "gilts," declined in the second half of the year.
The company, which also has research and supply operations in Iowa and South Dakota, envisions sales growth in 2001 from its genetics division and from an expanded herd of pigs.
Meanwhile, Struthers reported it entered into an agreement March 23 for a $10 million investment from Alpha Venture Capital Inc.
According to securities filings, Alpha Venture Capital is incorporated in the Cook Islands and is part of The Alpha Group, a $750 million private equity fund that provides financing to emerging smaller and mid-sized companies.
The money, to go toward operations and research, should satisfy Struthers' working capital needs for the next 12 months, the company said in the earnings report.
Jim Parker covers banking, insurance and investments. Contact him at 937-5542 or at jparker@postandcourier.com.
--------------------------------------------------------------------------------
Great name Arch! Good luck w/ your new board. Let me know if I can be of any help. I have too much time on my hands. Ha!
2desire
I still have my shares! I'm surprised this hasn't moved the price more. Maybe next week as the meeting gets near. Thanks for the info.
2desire
SLGLF up .075! Anyone playing it? Good luck to all.
b/r 2desire
IDNW up 109% today!
Ideal networks website
http://www.idialnetworks.com/
iDial Networks Reports Revenues Jump 272% in Fourth Quarter 2000
http://www.bigcharts.com/news/articles.asp?newsid=777365171&orig=symbol&time=&symb=IDNW&...
iDial Networks, Inc. Reports Record Revenue Increase of 435% to $2 Million in First Quarter 2001
http://www.bigcharts.com/news/articles.asp?newsid=777582207&orig=symbol&time=&symb=IDNW&...
Good luck all.
2desire
Other news re: Mirror Image (subsidiary of XLA)
http://biz.yahoo.com/bw/010403/2474.html
b/r 2desire
Annual report for Stru (10-K)
http://ragingbull.lycos.com/mboard/boards.cgi?board=STRU&read=211391
STOCK100 FIVE DAY PRICE FORECAST
http://www.stock100.com/
STRUTHERS INC ( NASDAQ Over-the-Counter bulletin Board:STRU)
$0.11 Prev. Cls.
$0.13 Day 1
$0.14 Day 2
$0.16 Day 3
$0.15 Day 4
$0.15 Day 5
36.36% 5-Day Change
b/r 2desire
TSPN up .02 as of close Friday. 5-day chart.....
http://www.quicken.com/investments/quotes/?symbol=tspn
b/r 2desire
37point9 OTCBB:tspn up 77% today on 102,000 volume!
3:32 pm Eastern Time
Press Release
37Point9 Announces Signing of Letter of Intent to Merge
LAS VEGAS--(BUSINESS WIRE)--March 29, 2001--37Point9 (OTCBB:TSPN - news) Thursday announced that it has signed a letter of intent to merge with NeoNet Marketing Group LLC, a community-based organization of Dyer, Indiana.
The company expects the finalization of the merger to be completed within 120 days.
Ray Warren, chairman of 37Point9, and Rick Sullivan, president of NeoNet Marketing Group stated that this merger would unite two fast growing companies in the Internet marketing and service provider arena. The addition of NeoNet Marketing Group's MyZIPnet TriAdd System will propel the company into a leadership role in the world of the Internet.
NeoNet presently provides Internet service in the Indiana area and will be introducing shortly the MyZipNet portal that will connect users with local businesses across the country and will also be introducing broadband wireless Internet connections to America's rural areas.
37Point9 presently operates the Web site portals UpWeGo.com, OTCVision.com and EquityMinded.com, and the Internet service provider (ISP) DictionaryHill.com.
Legal Notice Regarding Forward-Looking Statements:
``Forward-looking statements'' as defined in the Private Securities Litigation Reform Act of 1995 may be included in this news release. These statements relate to future events or our future financial performance. These statements are only predictions and may differ materially from actual future results or events. 37Point9 disclaims any intention or obligation to revise any forward-looking statements whether as a result of new information, future developments or otherwise. There are important risk factors that could cause actual results to differ from those contained in forward-looking statements, including, but not limited to risks associated with changes in general economic and business conditions, actions of our competitors, the extent to which we are able to develop new services and markets for our services, the time and expense involved in such development activities, the level of demand and market acceptance of our services and changes in our business strategies.
--------------------------------------------------------------------------------
Contact:
37Point9
Doug Brown, 858/270-4908
Fax: 858/270-2005
http://www.smallcapcenter.com/snapshot_quote.asp?ticker=TSPN
Time for a little humor.....
A farmer buys several pigs, hoping to breed them for ham, bacon, etc.
> >> After several weeks, he notices that none of the pigs are getting
> >pregnant,
> >> and calls a vet for help. The vet tells the farmer that he should try
> >> artificial insemination.
> >>
> >> The farmer doesn't have the slightest idea what this means but, not
> >wanting
> >> to display his ignorance, only asks the vet how he will know when the
> pigs
> >> are pregnant. The vet tells him that they will stop standing around,
> and
> >> will, instead, lay down and wallow in the mud when they are pregnant.
> >>
> >> The farmer hangs up and gives it some thought. He comes to the
> conclusion
> >> that artificial insemination means he has to impregnate the pigs
> himself.
> >> So, he loads the pigs into his truck, drives them out into the woods,
> has
> >> sex with them all, brings them back and goes to bed.
> >>
> >> Next morning, he wakes and looks out at the pigs. Seeing that they are
> all
> >> still standing around, he concludes that the first try didn't take, and
>
> >> loads them in the truck again. He drives them out to the woods, bangs
> each
> >> pig twice for good measure, brings them back and goes to bed.
> >>
> >> Next morning, he wakes to find the pigs still just standing around. One
>
> >> more try, he tells himself, and proceeds to load them up and drive them
>
> >out
> >> to the woods. He spends all day shagging the pigs and, upon returning
> home
> >> falls into bed. The next morning, he can't even raise himself from the
> bed
> >> to look at the pigs. He asks his wife to look out and tell him if the
> pigs
> >> are laying in the mud.
> >>
> >> "No," she says, "they're all in the truck and one of them's honking the
>
> >horn!
XLA News!
Mirror Image Internet, an innovative provider of Internet content delivery
services and subsidiary of Xcelera Inc. (AMEX: XLA), today announced that it has
forged a strategic partnership with iAdvantage, a SUN eVision Company and
leading Internet Infrastructure Provider. Through this partnership, iAdvantage
will provide the full complement of Mirror Image content delivery, streaming and
caching solutions to businesses and organizations throughout Greater China.
To view a copy of the press release, please go to www.xcelera.com
muelhead
I sent you a PM. Did you get it? I don't know if it took. TIA.
2desire
Wespac Technologies (pink-sheet/ may be worth taking a look at)
WPTE will have $2,000,000 in venture capital.
O/S is about 27,000,000 & Float about 8,000,000
(these numbers were given to me by Terrence Tecco, Pres.)
For a quote:
http://www.pinksheets.com/quote/company_profile.jsp?symbol=WPTE
Some very good PR's coming out in the next two months.
Here is some good reading on WesPac Technologies, Corp. (WPTE)
http://www.pennystockportal.com/profiles/wpte/index.htm
see post #178 (one correction I would make to this post is O/S & FLOAT)
O/S = about 27 mil. & FLOAT = about 8 mil. See also post #184
http://ragingbull.lycos.com/mboard/boards.cgi?board=WPTE&read=178
http://ragingbull.lycos.com/mboard/boards.cgi?board=WPTE&read=184
b/r 2desire
STRU NEWS!
I have to go to work. Just wanted to post the latest PR that just came out. Will chat tonight w/ you Arch and Muelhead!
b/r 2desire
CHARLESTON, S.C.--(BW HealthWire)--March 26, 2001--Struthers Inc. (OTCBB:STRU) announced March 19, 2001, that Mariano M. Raigo was selected by the Company's Board of Directors to serve as President.
Commenting on his appointment, Mr. Raigo stated, "My immediate goal is to unify our subsidiaries and focus on the basic concept for which this company was founded, namely reproductive biotechnology. I want the world to know about our high health breeding programs, including our artificial insemination and embryo transfer techniques facilitated by the Gourley Scope(TM)."
Mr. Raigo, a native of Argentina, studied Engineering and Business Management at North Carolina State and Notre Dame. For the past 20 years he owned and operated several businesses in the Asheville area of North Carolina. During this period, Mr. Raigo was recognized as one of the top 3 retailers in the nation and received the Bellcow award for Innovative Marketing and Sales from the National Association of Retail Dealers and the Whirlpool Corp.
Mr. Raigo handled accounts both domestically and internationally for companies such as Nestle and GE Spacenet. For the past 9 months, Mr. Raigo has worked with Struthers on a consulting basis, designing and building its information and accounting system, and is familiar with all operations.
Mr. Raigo is fluent in several languages and holds offices in several civic organizations in Asheville, including the Minority Development Enterprise Board, Association for Latin American Development.
For further information on the Company, visit their web site at http://www.struthersinc.com.
Certain statements in this press release may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Readers are cautioned not to place undue reliance on statements, each of which speak only as of the date made. All such forward-looking statements are only estimates of future results and actual results may differ materially from those anticipated or projected. The Company undertakes no obligation to update or revise any such forward-looking statements.
CONTACT: Struthers, Inc., Charleston
Ms. Frances Kotnik, 843/763-1755
NRES News! 45 million in volume today.
National Residential Properties, Inc. Announces $12,000,000 Sale of Residences at Bay Harbor
WEDNESDAY, MARCH 21, 2001 9:18 AM
- BusinessWire
MIAMI, Mar 21, 2001 (BUSINESS:NRES.OB) (Formerly:NRPI.OB). Richard Astrom, President and CEO announced today that, "We have entered into a contract for the sale of the Residences at Bay Harbor with Royal Investments & Realty Group Inc. for $12,000,000." Astrom explained that NRES will have the building built for $6,500,000. "The land cost was $850,000 and future expenses are expected to be $2,000,000, leaving NRES a profit of approximately $2,500,000. The Residences at Bay Harbor is a 60 unit apartment building that is presently site approved for building and zoning and in the planning and permitting phase of construction."
Astrom further announced, "At the Conquistador Plaza apartment building, the demolition has been completed and the excavation of the 100 ft x300 ft x 8 ft deep basement has been completed."
Astrom also stated, "Eagle Trace subdivision is under construction in Vero Beach and that the subdivision is contracted to be completed by August, 2001."
Astrom also stated: "The company has entered into a contract with Sharun Paroxy Organization LLC. (www.sharun.net) for a new, modern and artistic web page with several engines for NRES office control of portions of the web page. Pictures of projects, the writing of the typed portion of the web page will be written and controlled from the NRES office, facilitating efficient communication to stockholders and investors of NRES. Launching of the web site is contracted for the second week of April, 2001."
The company is seeking acquisitions and land for real estate developments.
ABOUT THE COMPANY
NRES, based in Miami, is a fully reporting company. NRES has 5 major projects where the company owns the land and is either under construction or in the plans and permitting process. The company's business is real estate development. NRES projects are: Building a 60 unit luxury apartment house in Miami known as GRANADA GRAND, upon sale the company will generate $7,000,000 revenues and $2,500,000 net income in 2002;
Building a 60 unit luxury apartment house in Miami known as CONQUISTADOR PLAZA, now under construction, generating $7,000,000 revenues upon sale, and $2,500,000 net income in 2002;
Now under construction, the company is developing a subdivision in Vero Beach, Florida, known as EAGLE TRACE. EAGLE TRACE is a heavily deed restricted, walled, gated community with a lake in the center. NRES will build houses and sell lots to other builders. The sale of the lots in EAGLE TRACE will generate $1,500,000 net income in year 2001-2002;
A 60 unit condominium project known as THE RESIDENCES AT BAY HARBOR, located on Bay Harbor Island, which will generate $12,000,000 in revenues and a $2,500,000 profit to the company in year 2002. The building is pre-sold to one buyer before being built, generating $2,500,000 profit to the company.
A 70 unit apartment house in Miami known as BARCELONA APARTMENTS, generating upon sale $8,000,000 revenues and $3,000,000 net income in 2002. ENCORE SERVICES, INC. is a licensed building contractor, and a wholly owned subsidiary, which is building the company projects thru it's affiliate Encore Builders Inc. and subcontractors.
Forward-looking statements in this press release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation reform act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including without limitation, continued acceptance of the company's products, competition, completion problems, technological changes and other risks.
CONTACT: National Residential Properties, Inc., Miami
Richard Astrom, 305/573-8882
Fax: 305/571-8357
Web Page: http://www.nres.tv
URL: http://www.businesswire.com
Today's News On The Net - Business Wire's full file on the Internet
with Hyperlinks to your home page.
Copyright (C) 2001 Business Wire. All rights reserved.
FBNI/Look at Gamehunter.com. Confidence level 10-very high, strong buy! closed at .011 today.
http://www.gamehunter.com/members/runtech.cgi
b/r 2desire
Arch, I saw that! Thanks for posting it. I wonder how valid the findings are. The owners of the sheep don't seem to think their sheep are infected. I would really like to know if they have it for sure. That is a very bad disease in that humans can be infected w/ it also. Take care. Will try to chat w/ you tomorrow afternoon.
Cheers,
2desire
Struthers Inc. Announces Reorganization of Management
WEDNESDAY, MARCH 21, 2001 9:47 AM
- BusinessWire
CHARLESTON, S.C., Mar 21, 2001 (BW HealthWire) -- The Board of Directors of Struthers Inc. (OTC: STRU) is pleased to announce, effective March 19, 2001, the appointment of Mariano Raigo to the position of President, Dr. Dennis Gourley to the position of Secretary/Treasurer and Richard S. Lane has been named Chairman of the Board.
Accordingly, Douglas W. Beatty will no longer be acting as CEO/President and Chairman of the Board and Rhett C. Seabrook who is appointed as Vice President, will no longer be acting as Secretary/COO of the company. Both Mr. Beatty and Mr. Seabrook will maintain their positions on Struthers' Board of Directors.
For further information on the Company, visit their web site at http://www.struthersinc.com.
CONTACT: Struthers, Inc., Charleston
Ms. Frances Kotnik, 843/763-1755
URL: http://www.businesswire.com
Today's News On The Net - Business Wire's full file on the Internet
with Hyperlinks to your home page.
Copyright (C) 2001 Business Wire. All rights reserved.
KEYWORD: MINNESOTA IOWA SOUTH CAROLINA
FBNI up 33.33% today.
Intraday chart.....
http://www.askresearch.com/cgi-bin/intraday?index=%24COMP&intraday=symbol&symbol=fbni&ex...
b/r 2desire
F2 Broadcast Network Gains Strength on News with PGATOUR.COM
BOCA RATON, Fla. -- (OTCBB NEWSWIRE) -- March 20, 2001, F2 Broadcast Network, Inc. (FBNI: .007) moves onto the volume leaders list on the announcement of the renewal of its agreement with PGATOUR.COM to continue providing original streaming video content through June of 2002. F2 Broadcast continues as an official "Internet Production Provider" of the PGA TOUR.
The agreement calls for F2 Broadcast to continue production of the "Inside The Press Room" feature, streaming pre- and post round interviews with PGA TOUR players on www.pgatour.com in both a "live" and "on demand" format. The "Inside The Press Room" feature permits viewers from around the world to have a front row seat each week in the PGA TOUR Media Center as TOUR players meet with the journalists. Advertising and sponsorships for the "Inside the Press Room" feature will be sold jointly by PGA TOUR marketing and F2 Broadcast.
Under the terms of the agreement, F2 Broadcast will also be responsible for delivering live video for television from six PGA TOUR locations: the AT&T Pebble Beach National Pro-Am, THE PLAYERS Championship, MCI WorldCom Classic, Byron Nelson Classic, Advil Western Open and THE TOUR Championship. These live video feeds will be sent back to The Weather Channel for live broadcast.
On February 18, FBNI retracting a previous statement "that it is seeking to provide the same service for the PGA Championship from the Atlanta Athletic Club in Duluth, Georgia, August 13th-19th, and the PGA Club Professional Championship from Sun River Resort/ Crosswater Club in Sun River, Oregon, June 21st-24th.
The retraction stated, "No definitive agreements are in place or contemplated. F2 Broadcast Network Inc. apologizes for any miscommunication." However, the company did agree to, "to provide Internet video production for PGA.com at its fall merchandise show in Las Vegas."
FBNI is coming off its 52-week low of $.006, achieved March 16, and the 52-week high is $1.31. The average daily volume is 3.94M, with a float of 29.1M. Currently, FBNI is up $.001 (17%). Volume is 9,918,900, three times the daily average, placing it in the top five volume leaders.
LOL! Mistake on last link. Try this:
http://www.amerinetgroup.com
It's Sunday. What can I say? lol.
Cheers
2desire
Take a look at Amerinet Group.com. Looks like a buy for me. Passed its 50 day moving average. Opinions welcome. I got the chart sent to me by mistake by a friend. lol. I was suppose to have a chart of TSRG attached. So... I decided to give it a look.
Interactive Chart:
http://www.smallcapcenter.com/snapshot_chart.asp?ticker=ABUY&coname=Amerinet+Group%2Ecom+Inc%2E+...
Press Releases(current)
http://www.smallcapcenter.com/snapshot_newsrelease.asp?ticker=ABUY&coname=Amerinet+Group%2Ecom+I...
Website:
http://www.Amerigroup.com
Archie... And we think we have problems! Whew! Glad to be in my shoes and not theirs. Ignorance is not always bliss. Thanks for the good read.
2desire
NTCS announces a reverse-split
Friday March 16, 4:25 pm Eastern Time
Press Release
NetCurrents Announces it Will Put Reverse-Split to a Vote of Company Stockholders
BEVERLY HILLS, Calif.--(BUSINESS WIRE)--March 16, 2001-- NetCurrents, Inc. (Nasdaq:NTCS - news), The Premier Internet Intelligence Agency, today announced its intent to file its annual proxy statement with the US Securities & Exchange Commission within the coming week, with subsequent mailing to its shareholders expected to occur in early April following clearance by the SEC.
Following negative response to the Company's announced intent to avoid a reverse-split of its common stock and after giving consideration to prevailing market conditions, management has since determined that a reverse-split may be a necessary course of action in order to satisfy the minimum bid price requirement of $1.00 under the continued listing standards of The Nasdaq Stock Market. In accordance with Nasdaq rules and regulations, the Company will have the right to appeal any delisting decision to a Nasdaq Listing Qualifications Panel, but continued listing is not guaranteed. Company stockholders will have the opportunity to vote on the matter either by submission of the proxy or by attending the scheduled annual stockholder meeting to be held in Beverly Hills on May 17, 2001.
Irwin Meyer, Chairman and CEO of NetCurrents, commented, ``We are clearly beginning to build momentum at NetCurrents, as illustrated by the numerous developments we've announced over the past several weeks. Despite the volatility of the market, we were hopeful that we would be rewarded with renewed support from Wall Street, thus resulting in the restoration of our common stock price to $1 and returning the Company to compliance with Nasdaq continued listing requirements. Although we are quite optimistic about the future of NetCurrents - particularly given the solid fundamentals of our technology and the sales responses we are beginning to experience via our channel sales division - management believes that its Nasdaq listing is integral to securing this growth and fundamental to protecting long term shareholder value. Therefore, we will put this to a vote of our shareholders to support management in making this difficult decision.''
About NetCurrents, Inc.
NetCurrents, The Premier Internet Intelligence Agency, analyzes communications from more than 65,000 targeted locations in real-time. The Company provides clients with critical information and counsel protection of their corporate image, measure consumers' perceptions and counter misinformation on the Internet. Due to the sensitivity of businesses that require this type of technology and analysis, confidentiality of NetCurrents clients is assured.
This news release contains forward-looking statements within the meaning of Section 37A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements involve risks and uncertainties. A number of factors could cause actual results to differ from those indicated in the forward-looking statements, including the Company's ability to continue to successfully market and provide their products and services and maintain their effectiveness, the continuation of the arrangements with the Company's channel partners, the ability of the Company to meet its financial projections, and general economic conditions. The Company undertakes no obligation to publicly update or revise forward-looking statements whether as a result of new information or otherwise.
--------------------------------------------------------------------------------
Contact:
IR Consulting
Shareholder Relations: Terri MacInnis, 818/226-6061
e-mail: tmacinnis@pacbell.net
or
Madison & Wall Worldwide, Inc., Longwood, Fla.
Broker/institutional Relations:
Dodi Handy, 407/682-2001
e-mail: ntcs@insidewallstreet.com
XLA has news!
http://www.xcelera.com/news/pressrelease.cfm?news_item_id=170
b/r 2desire
Muelhead, Look for your e-mail. eom.
2desire
Archie! Muelhead! Howdy! Hey, I have kiwi's pictures up on webshots. Using Dr.Crovatt's photo album until he transfers them to my new account. Want to see them?
2desire
Arch, Are you watching the Soprano's now? lol. Talk to you later. Cheers!
Jerri