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So the question remains, ELCR,Springfield Coach Group or Imperial Coach Builders? Are they the same? I know 8 years ago ELCR came into existence. However these videos show the Nissan Leaf conversions from 4 years ago
Hmmm. Reuters Global put out a new analyst research report for this stock on 4-22-17. First one I've seen in quite a while. Super outdated info but it still links ELCR with Imperial Coachworks (as found on PG 12). As matter of fact it not only lists our good buddy Gary Spaniak Jr as contact for ELCR but also lists Lisa Catterson as contact for Imperial. Wondering how much of this is still accurate?
Of course something is going on here. It's called a scam. The 10Q is from 2011 with the same address, same phone number and name (Gary Spaniak) as Springfield Coach Group. For "Kevin" to say they are in Florida is ridiculous.
Remember Obama's 2008 promise about electric cars? This company bought a shell "Classic Costume Company, Inc" in 2009 (http://www.wikinvest.com/stock/Electric_Car_Company_(ELCR)/Filing/10-K/2010/F84748683) Probably received some Federal grant money (http://gas2.org/2009/03/19/president-obama-announces-24-billion-in-funding-for-electric-vehicles-and-plug-in-hybrids/) at increasing the number of electric cars to meet Obama's goal. They converted one electric car, that cool looking Porsche in the video, sold 65 billion shares. Probably found it wasn't cost efficient and stopped electric conversions. Keeping our investment money and the Feds grant money.
Nice scam. I wonder if US Rep Billy Long of Missouru knew any of this before visiting the plant?
Yeah cool conversions. They prob took some Obama grant money, bought a shell costume company, renamed it elcr, converted a couple cars with that grant money, put out some bogus PRs years ago, and have been sucking everyone dry since. To the tune of 65 billion shares. Glorified body shop.
Costume company Shell becomes ELCR. More info here http://www.wikinvest.com/stock/Electric_Car_Company_(ELCR)/Filing/10-K/2010/F84748683
Nope. Glorified bodyshop.
Yeah run right out of the room. Good luck pumping this piece of crap. All the people who have supported this in the past are tired of their crap. Unless you're looking at 1000% returns everyone who was just burned by the 1 for 10 RS could care less.
SO WHAT HAPPENS TO OUR SHARES??
Looking over the latest SEC filing from OICco Acq. I ( http://www.sec.gov/Archives/edgar/data/1469284/000107878212000829/posam4_posam.htm )
Lets see if I got this right.
1. Imperial Automotive Group, was incorporated on October 12, 2011 with plans to lease facilities in Springfield MO for development of its "specialty vehicles". (I'm assuming this is where Imperial Coach Builders is located)
2. IAG plans to acquire Imperial Coachworks (Coach Builders???)
3. However as of now, IAG "has been in the developmental stage since inception and has no operations to date. The Company currently does not have a means for generating revenue. Revenue and Cost Recognition procedures will be implemented based on the type of properties required and sale contract specifications."
4. IAG "has authorized a hundred million (100,000,000) shares of par value $.0001 common stock, of which 1,000,000 shares were issued and outstanding as of October 15, 2011."
5. "On October 25, 2011, management has entered into a contract with OICco Acquisition I, Inc. (hereinafter “OICco”) in which the Company exchanged forty million (40,000,000) shares of OICco common shares for 100% of the issues and outstanding shares of the Company. At the closing of the Exchange Agreement (which is contingent upon an 80% reconfirmation vote under Rule 419), the Company will become a wholly-owned subsidiary of OICco and OICco will acquire the business and operations of the Company." (Spaniak and crew will be appointed directors of OICco then.)
6. "Imperial’s lease has a rent of $2,000 per limo built in the facility and is for a term of 2 years which began on October 13, 2011. " Lease has a rent??? Can someone explain this to me, please!!!
So I'm I wrong in thinking that the only revenue we may see for ELCR is a $2,000 rent??
What happens to the 6.8 BILLION shares issued? Are we gonna have to wait until IAG acquires Imperial Coachworks? (Although on their website ( http://www.liberty-autogroup.com ) it would seem like this is already a done deal. (I have to say though I sure like the Liberty Electric Cars Website more than Imperials!!)
How much of a reverse split do you need to fit 6.8 Billion Shares into the 100 million authorized shares (that would be 1 for 6800)? Of course, the authorized shares mean nothing because they were given to OICco Acq. How did IAG have shares to issue???
Confused.
Liberty Automotive Group is made up of three operating divisions: Liberty E-Tech, Liberty E-Care, and Imperial Coachworks.
(this is all taken from the SEC filing www.sec.gov/Archives/edgar/data/1469284/000107878211003461/posam_posam.htm
The Liberty E-Tech arm, designs and builds electric drivetrains for use in large cars and commercial vehicles. The technology it has created is unique as demonstrated in its showcase Liberty E – Range, a pure electric Range Rover capable of 200 miles on a single charge, 0 – 60mph in circa 7 seconds and a top speed of 100mph – all with no loss of interior space. The Liberty E-Care division provides a full package of aftersales services for all types of electric vehicles, and has contracts with several global companies to provide its services.
Imperial Coachworks builds probably the finest Limousines available today and is one of the few QVM (Ford) certified builders. It creates specialist mobility transport for disabled drivers and provides a variety of unique transport solutions built to meet customers’ demands. Imperial Coachworks (ELCR is a subsidary of this) ambitions to build hybrid electric and pure electric SUV’s, Limousines and other large zero emission vehicles, AND Liberty Electric Cars desire to find an outlet for its technology in America first bought these two companies together. The combination of Imperial’s ability to build low volume high quality vehicles and provide access to the market combined with Liberty’s unique and proprietary electric drive train technology makes them the perfect partners to bring electric vehicle solutions to the market globally.
Liberty Automotive Group is profitable and cash generative, but seeks financing to take the overall business to the next level. Additional funding may be needed over 3 years to develop the full potential of the business. Current plans include: Acquire related EV business in order to lead consolidation in the industry, driving down costs through increased volumes; Fund a stock of vehicles for Imperial; develop next generation (3rd) EV architecture; fund sales and marketing initiatives in relation to finished vehicles; develop a global presence; roll out Liberty E – Care in a franchised or wholly owned model.
Has anyone contacted this joshua sisk guy, who's the president of OICCO acquisitions? They bought Liberty Automotive Group, which ELCR is a portion of. Maybe he has an idea whats going on? Please see post #5583 for more details on this acquisition.
ELCR Info out!! But not where you'd expect to find it.
Here is the SEC filing. It is the same Imperial, there's our buddy Spaniak signing it.
http://www.sec.gov/Archives/edgar/data/1469284/000107878211003069/f8k102511_ex2.htm
So if I'm not mistaken OICco Acquisitions I owns ALL the shares of Imperial (ELCR being one of 3 parts of Imperial Auto Group)
The others being Liberty E-Tech and Liberty E-Care.
The Amended SEC filing ( http://www.sec.gov/Archives/edgar/data/1469284/000107878211003461/posam_posam.htm )
goes on to state
"Liberty Automotive Group is profitable and cash generative, but seeks financing to take the overall business to the next level. Additional funding may be needed over 3 years to develop the full potential of the business."
"On December 5, 2011, our Board of Directors adopted a resolution to amend our Certificate of Incorporation to change our name to “LIBERTY AUTOMOTIVE GROUP, INC.” (the “Amendment”) and to increase the authorized capital to two hundred million (200,000,000) shares of Common Stock of the par value of ($.0001) each, and fifty million (50,000,000) shares of Preferred Stock of the par value of ($.0001)" ( http://www.sec.gov/Archives/edgar/data/1469284/000107878211003577/pre14c120611_pre14c.htm )
So now OICco Acq.I owns Imperial's shares and has become Liberty Automotive Group.
And the effects of the new shares dated January 19, 2012 ( http://www.sec.gov/Archives/edgar/data/1469284/000107878212000200/posam2012012_posam.htm )
"Assuming all shares offered herein are sold, giving effect to the receipt of the maximum estimated proceeds of this offering net of the offering expenses, our net book value will be $36,000 or $0.006 per share. Therefore, the purchasers of the common stock in this offering will incur an immediate and substantial dilution of approximately $0.014 per share while our present stockholders will receive an increase of $0.006 per share in the net tangible book value of the shares they hold. This will result in a 70% dilution for purchasers of stock in this offering."
Form 8-A filed Monday January 30, 2012 ( http://www.sec.gov/Archives/edgar/data/1469284/000107878212000247/f8a013012_8a12b.htm )
Something is about to happen. R/M looks like a definite, with ELCR being the Stock shell. Get ready for better or worse!!!
Not sure if this Imperial Automotive Group, Inc is the same as our Imperial Coach Builders (http://www.limoland.com/)
Found in Mergers and Acquistions
Mergers Unleashed
M&A news and insight for the middle market
Weekly Wrap
October 31, 2011
OICco Acquisition I Inc agreed to acquire the entire share capital of Imperial Automotive Group Inc (Imperial), a Ft Lauderdale- based manufacturer of motor vehicles, from Starcraft Corp, a unit of Quantum Fuel Systems Technologies Worlwide Inc, in exchange for 40 million OICco common shares, in a stock swap reverse takeover transaction. Upon completion, Imperial was to own 80% of OICco.
SEC Filing found at
http://www.faqs.org/sec-filings/111026/OICCO-ACQUISITION-I-INC_8-K/
Being a relative new investor (appx 2 years). I stumbled on this last year and bought 1k for .63 (when I thought they were going to get FDA approval), and added 4k more at .17 this year. Do you all think this will be another Jazz Pharm and go from .58 to $40 in 18 months? Is this just a hold for that long? HELP??