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Recently I have been trying to think of why no updates.
Perhaps (and this is a long shot)by not having a bid and constant PRs, those toxic deals can not sell billions of shares.
My only hope is that while we are at 0 bid - that JA goes out and restructures a tie up period for those toxic shares. If he went out and tied the hands of those hogs for 1-year and took us below 1-2 billion shares...a run would then be possible. Maybe this is why he has shut down the PR machine and why he did not RS. RS does nothing with those toxic clowns having billions more to print.
But it is a very long shot that anything happens because JA has proven to be nothing but a terrible CEO.
20MM share at 0.0005...nothing happened yesterday still nothing to lose by hoping.
As one person said: Be very careful what you wish for!
Getting the SEC involved in fraud will not get any of us longs the results you will want. It will come with a long halt - then gray sheets- then kiss any chance to sell.
No one here will get a dime out of this dog. No one here will take control of the company...everyone will be crying forever.
I had a lot of money tied up in SSTY back in 2005. Those longs are still crying.
Wont work. Last year at this time what $300million shares were outstanding. The company and toxic debt holders diluted the common shareholder to 8 Billion shares and likely much higher now.
My guess is market makers will not support the bid because of the ENDLESS supply. That supply is not from you , I or the next guy.
1) how do you know it went pink?
2) What would you sue for? The company has no money and the debt holders would get the first dibs on the technology?
Maybe if we go Pink he will light the board with multiple PRs and probably a RS. If he no longer files then he would likely do some very very shade crap.
But being pink doesn't mean we are dead. Might even awake the dead.
I will believe its possible if the company issues another filing. Sadly I have a very hard time envisioning it.
One week ago, I was actually hoping that the company would shed thermal gun...RS and merge into an oil and gas company. Wishful thinking my friend.
Merger Agreement? Ha ha that is very funny.
It could be a merger agreement.
It could be the lawsuit.
It could be that they ran out of money.
It could be that market makers wont make a fair trading market as they dont want to get stuck with billions of shares.
It could be because when ever they announce something a toxic deal from the past dilutes that crap out of us.
It could be that this company is run by a POS that doesn't know what he is doing.
But a merger is happy thoughts and way better than anything else.
Smells and looks like a scam.
Either the cash reported is not real or the A/R are bull. Only an audit would figure this out.
Either way...1) this reverse splits because that is how they operate and you get diluted yet again.
So lets say the resources are real:
Now they have issued probably 700MM shares if not more in the past year to retire debt at higher levels. $4mill dollars could buy back all the shares x4 and do wonders for the stock.
Even the hint of a buyback would send this flying.
So crooked or honest business men?
Well JA was quite motivated last spring when he released multiple PRs only to sell billions of shares.
Nope...this game be over if I can get a bid I'm out and I want nothing more to do with this.
I feel that this game over.
I just don't get it but then again there may be nothing to get.
Win some Lose some...
Hey guys...what did the crappy website do for us anyway.
They aren't selling a website at this point.
Fraud?? No Sir not fraud. Its a realistic scenario because who controls the voting rights to the company? Guess what ...its not you or I or anyone on this board. Also the common shareholders own nothing at this point...The billions of shares diluting us are from convertible debt holders. Debt holders currently own this company.
Sorry for reality but you don't own anything and you don't hold any voting power what so ever.
If Wellstar sold this product to another shell for a peanut and a nickle....there is not much that you can do about it. Believe me it would not be the first time this had ever happened.
One day we will just RS.
Within 2 weeks of the RS...the company will issue news of the Duke study........boom...price will rebound slightly before the powers that be call in their billions of mores shares of convertible debt.
Anyone who bought in the last year should have known that this would be diluted. The quarterly reports gave the information.
Its too bad that they are not out for the shareholders...but for themselves. I also wouldn't be shocked if they sold everything to another shell company.
Reply to The Truthful
"we all know about the Duke and the deal with CAS."
We all know??? as in we the 5 little investors on this board? The PR should be issued to tell the WORLD good new. The PR is used to build shareholder value by driving up demand for the stock.
PR drove the share price up last January when they issued one to tell the WORLD about that the DUKE Study was submitted. The prices moved up in September when it was accepted.
As for the financing...it shows the investment community that you might not be full of crap and that someone may believe in the product.
Also 5MM shares traded today...I would love to zero shares traded if it means no dilution
Also lets remember that the website was taken down once or twice when they updated it before in August.
The stock didn't move on the Duke Study results being published because the public wasn't told it was published. The company needed to put out a PR! They didn't ...they failed or hey dont care at this point (8-10Billion outstanding) and we RS soon.
"have spoken with JA. He really has no information to give, not as in unwilling, really no information to give."
He has promoted the Duke study since well before the beginning of last year. He issued a statement in September that it would be published but they didn't know when.
Article is in the January issue of Wound Care...and now he can't issue a PR that would spread that news to the investing community?
8 Billion shares later and now he decides that it is not news worthy?
An update from the company is surely needed. The fact we are not getting one is a major problem or at least indicating some is wrong.
1) The article is some what published
2) They some what received financing for the camera
3) Nothing has been updated with where the camera is at in production
4) Beta what....nobody knows much about any of the promised test
5) Roll out plans?
The company could easily do a conference call or a letter to address where we are headed in 2011.
8 Billion shares,probably 10 now,.... I'm starting to believe the news has been held back for a RS.
"When the company receives the firm date of the publication, it will be announced."
So when does this go to actual print? Sounds like the company dropped the ball.
That has nothing to due with buying back stock...that is dilution
Well...lets hope and pray that they announce good news soon.
We all knew they were over 5 billion shares...I was actually happy with the 7 Billions shares as I was expecting close to 15B.
With only 94 holders of the stock...I feel there is a ton of room for growth but again people need a reason to buy.
1st off lets get the 10k to find out how bad the dilution really has been.
2nd ...I doubt the Duke study is vague. The medical journal would not publish a weak report. Also if this was Wellstars report we could stick a fork in it...being Dukes report probably pretty good.
3rd...the .0001-2 price is a self inflicted wound. Wellstar indicated in April -May that nothing would happen until late summer into fall. Investors ran for the doors since this was going to be dead money for months. Lets just hope the camera is operational by month end.
If the company is able to sell units to the beta test customers that will be a big win for us.
Now I'm very surprised that the bid has held .0001 with all the volume. Who is buying at .0001? Is this manipulation by MM's?
Dilution is probable but the
http://regsho.finra.org/FORFshvol20101101.txt
Shows 55MM sold short for today. One way or another the flood gates appear to be open.
I'm curious as to why the bid has held up...which leads me to think this is MM trickery to buy shares before something big.
I imagine we will see shares outstanding at 10 to 15 billion but anything less will be a win in my book.
Still hoping for a big x-mas and if the ask drops to 1 then I will look for a 2x big x-mas.
We maybe able to throw insurances right out the door. If the technology is more efficient in detection and able to detect pressure ulcers earlier than todays methods...then LTC facilities and hospital should buy with or without reimbursement from insurance or medicare.
Patients who are admitted, if an actual sore exists or if the facility can prove the early stages of one...then the facility can bill for taking care of it.
If a patient gets a sore well in the hospital or LTC facility then the hospital pays for it out of pocket. On average it can cost 40K to cure an open sore. So that being the case a hospital and LTC facility have a ton of incentive to purchase this technology to prevent future losses.
So with or without insurance or medicare billings available...the company should have opportunities to sell the gun.
$5 a share??? and how many shares outstanding will the company have?
The only way that happens is if the company purchases billions of shares back. Otherwise 5$ per share would equal 25-75Billion market cap...that is not a likely.
I have a difference in opinion.
1)Real product could equal a scam depending who and how the company is run from the inside. Not that I'm stating this is a scam...but some people might believe that issuing and selling of billions of shares to only RS and do it all over again as a scam.
2) Believe the product is FDA approved.
3) Believe the studies have been conducted.
4) Believe the Beta tests will lead to sales.
5) The Duke article is very nice...but is merely a marketing piece.
If the camera is ready to go in November...I'd hope we are not waiting for some stupid article to be published to begin selling.
What really disappoints me is the fact the company has done a much worse job of stock promotion since Falcon Investors came on board.
Yes this could be a scam. They made some very important changes to their camera that will allow it to integrate better into any hospital system. The camera will also be able to complete the entire process... with the old camera the hospital employee would need to take the images and transfer the info to a laptop. That was not the most efficient or ideal situation for a hospital.
The new camera will be ready for marketing in November. The Duke article will likely come after that. I believe we will have a contract sold prior to the article being published.
The article will only add fuel to fire.
Lets hope we get news of meetings with hospital systems, insurance companies and merger talk. The camera and software could be worth $$$ to medical device makers.
Hot List: Wellstar International, Inc. OTC:WLSI was no bid x .0001 not long ago and is managing to put together a market, I am looking for .001 here soon.
"WLSI is making a steady comeback and it will slowly move forward for a while and then see a strong rally."
This was on the hot list for the week. But did anyone see a interview that they promised two weeks ago?
1) Its sad that we won't see an article until 2011
2) We need to see Beta Results released
3) They should be meeting with hospitals and Insurance companies -need to hear about it
4) It would be nice if the camera was ready sooner than later...too many delays here
5) Lets promote the Breast Cancer screen aspect of this machine. If this really can detect breast cancer and its cheap and easy to use in a doctors office...should be easy to promote. Maybe some cancer foundation can back us.
The large sellers seem to be sold out for now...most the shares beings sold are shorted shares now. The company needs to promote and pressure the stock upwards. But it appears that were on a crash course for a RS.
Lets hope tomorrow we get news of a date for the publication. The longer we go without it the more likely this is back at bid of 0 and ask of 1.
http://www.mikronet.com/
Wonder if they are making the camera?
Sorry ...I work in a bank and Thousands is M and Millions is MM.
Yes $50K.
Here it is: "AJW Partners, LLC and related entities converted a portion of their notes (See Note 2) into 267,704,800 shares of Common Stock during the period May 1, 2010 through June 15, 2010. During the same period, JMJ Financial converted a portion of their notes in 671,500,000 shares of Common Stock (see Note 4).
On May 5, 2010, the Company entered into a loan agreement with a different outside party and borrowed $50,000 with interest at 8% per annum, and a maturity date of February 5, 2011. The lender may convert principal and interest in shares of the Company’s Common Stock at any time up to the maturity date. The conversion price is the average of the three (3) lowest trading prices for the Common Stock in the ten (10) trading days prior to conversion X 60%."
Which is about 833 Million shares (0.00006)...not 3billion.
I do like your lawsuit idea better... please provide a link to the suit.
Not sure if that $50M converted in 3B shares is correct.
1) There was a $500M deal that was to convert into 3.4B shares. But it was through JMJ.
I believe that the deal fell apart..I would have read that in 1 of the last two 10ks.
Lets hope we can build a solid foundation back to .0005-.0006 prior to the actual date being released.
This should sky rocket as we approach that date.......if it doesn't...well we are probably screwed.
My problem is that the company has not put forth a solid PR campaign to promote the stock...real companies do poorly on the OTC.
They need to promote the stock to build value. God forbid they issue shares to raise capital at these levels.
Yes shares can be shaken.....MMs are not buying! I put in an order to sell 1MM shares last week because I needed to free up cash for another investment. They dropped the bid on me 3 times and never took the shares.
I feel the only way this one will pay off is if we have Huge volume so we can get out!
Lets hope for a PR...now that the holiday is over.
http://www.youtube.com/user/WellstarImaging
Hmmm...other than a few new pictures can anyone tell us what changed on the website? I hope this is not the official launch. I know for sure that the corporate presentation is Old.
1st off
Product or not...the company might be a scam base 100% on how shareholders are treated. With the dilution and history with R/S there is evidence that the CEO's intentions are corrupted.
But...in April/May the company went out and put a PR that stated nothing will happen here until Fall. Stock tanked. I believe MMs are fully loaded. I don't think many individuals were buying at .0001 or lower.
From my history trading stocks...before good news there always seems to be major manipulation. So remember..as bad as it seems our losses could be erased in a heartbeat. 1 day 1 week 1 month....this could move big and fast with the right conditions.
I believe this video was put on by Falcon Investors...that we will see a PR about the video soon....and God we can only hope that they announce the date for the Duke publication.
The new camera is hand held and does everything. To go into the medical world and expect a technician to drag around a lab top would be unrealistic. The camera is small -compact and does everything so it looks great.
I also have family members that work in a hospital in the City of Detroit. Hospital are paying large dollars to cure these ulcers and Insurance companies and the government are refusing to pay the bill if they think its the hospitals fault.
So real problem, big dollars involved, and lets pray that this solution is as good as they say.
I was hoping that the .00 bid would stop the selling....I was very wrong.
I did notice that they have now put two crap pictures of the camera on the website.
Need an update soon...on anything....something......please just soon.
Someone just posted on yahoo....September Issue is out and no Duke Study. Wonder if the company will issue news soon as to the next prediction? October / November?
Starting to think the RS news will come before Duke Study...this is kind of shame.
http://regsho.finra.org/FORFshvol20100819.txt
I forgot to change the date...it was only 16MM today. Its funny that on 04/26/10 when I saved the link...we did 43 million shares.
On July 1st the company stated "All the parties will be working closely together over the next few weeks to develop seamless integration models designed to meet the needs of particular clients. An integrated rollout plan will be developed as well as a series of unified presentations."
I believe news is coming either tomorrow or Tuesday...I for one cannot wait to see the date of the first presentation...Should be Huge Hype.