is... Alive and Well, So Far . . . LOL !
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Me Too, N.B.J.F. !!!
Hi, StockVoyager . . .
Remember me ? ? ?
Well, I remember you . . .
And, I see you're still at it, too . . .
The Form 15 for this security was filed on 11/29/11.
This particular Form 15 can be seen at the following link:
CERTIFICATION AND NOTICE OF TERMINATION OF REGISTRATION UNDER SECTION 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR SUSPENSION OF DUTY TO FILE REPORTS UNDER SECTIONS 13 AND 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934.
Now . . .
What's interesting to me is that this security is still trading, even 90 days after the Form 15 filing date . . .
H'mm . . .
And, For Reference, here are four links that talk about the procedures for "Going Dark" and the Deregistration Process:
Going Dark - Part I of IV
Going Dark - Part II of IV
Going Dark - Part III of IV
Going Dark - Part IV of IV
Per the latest 8K dated 11/01/11:
( EDGAR Online Filings for: CAPITAL GROWTH SYSTEMS INC /FL/: CGSYQ (Pink Sheets) )
. . . Cancellation of Outstanding Stock and Right to Deregister. The Joint Plan of Reorganization (“Plan”) of Company and its subsidiaries named in the Plan was filed with the Court on August 11, 2010. The Plan in relevant part provided that all of the Debtors’ Parent Interests (namely, all capital stock and warrants of the Company) shall be cancelled as of the Effective Date. The Effective Date was defined as the first business day after the conditions to the confirmation of the Plan had been satisfied or waived, provided there was no outstanding of the effectiveness of the confirmation order for the Plan. On October 13, 2001 the Court published notice of an order confirming the Plan as modified, the Effective Date and the Bar Dates for filing administrative claims and contract/lease rejection claims. In that notice the Court stated that the Plan became effective on October 1, 2011. Accordingly, pursuant to the Plan all of the outstanding capital stock of the Company and all outstanding warrants and options to purchase capital stock of the Company was effective and these securities are no longer outstanding. The Company shall have the right to file to deregister as a public company due to the absence of any outstanding shareholders as of the current date . . .
This would seem to me to mean that the original capital stock of the original company has been rendered "no longer outstanding" and as such, the original company can be deregistered due to "the absence of any outstanding shareholders as of the current date".
IMO, the shares "we" own are NOT the same shares as the shares of the new company, Global Capacity, Inc., which is now a private company.
However, please feel free to correct me with verifiable evidence that that I can look up so I can see the error of my analysis.
See Post Number 6375.
I really don't know. I've not traded in a Stock that went all the way through the Bankruptcy process, before, so I have no previous experience to go on when it comes to a stock that is still selling even after it has been "officially cancelled". Just simple logic tells me that you shouldn't be able to sell something that no longer "officially exists", but, obviously, MMs are still doing it.
So, IMO, something "strange" is going on, here . . .
I'd like to know the answer to that question myself ??? !!! I would have thought that once the stock was cancelled it could no longer be traded.
Well, I guess I was wrong . . .
Right now, it's hard to say what the Bankrupt Admin is going to do. By all appearances, it looks like the stock is going to be retired, but it doesn't yet have to be. So far, he is following the standard procedure for the retirement of a stock during a bankrupt proceeding but that goes for all stocks in this position.
However, it seems to me that it's taking an unusually long time for this to occur, so perhaps there are different plans in play that no one knows about.
So, for my money, I'm waiting to see what happens next . . .
I'd like to know the answer to that question, myself.
I've been operating under the impression that the bankruptcy court had already approved the process of retiring the stock and as such, it was only a matter of time before that process took place. But, here we are in January of 2012 and the stock is still trading.
Could this mean that the "Stock Retirement Process" has NOT been put into action? For reference, it's not the Bankruptcy Court's job to do that. It is the job of the current administrator of the shell to do that.
So, if the process has not already been started, then why not?
But, it it HAS been put into action, then why the HELL is this stock till trading ???
Interesting . . .
Congrats! Glad to have you aboard !!!
James,
If you will re-post your message with a beginning sentence such as:
Current and Beneficial Information Regarding ICOA
I'll create a sticky for the new message so that the above sentence, or something more suitable to your liking, becomes the title for the sticky.
plmcc
I Like This . . .
A Very Kewl Board, James!
I'm glad you decided to start it up !!!
"Keepin' Da Faith, Still"
-= =-
plmcc
LOL !!!
Erwin Vahlsing Jr
Source: http://www.otcmarkets.com/stock/ICOA/company-info
I would say, based upon past EVIDENCE, he's talking within a time frame of MONTHS, not , uhhhhhhhhhhhhhhhhhhhhhh, CENTURIES . . .
LOL!
Go ICOA !!!
Well Said, James !!!
"Keepin' Da Faith, Still"
-= =-
plmcc
The mods and assistant mods are here primarily to help keep the noise to chatter ratio down to a manageable level. Convincing the adults to act like adults is, well, pretty far down the list, not that you could tell this by the recent activity . . .
8<() . . . 8<() . . . 8<() . . . 8<() . . . 8<()
So, this would imply that the stock can no longer be bought or sold, since it no longer exists, right? And this new situation took affect on October 13, 2011, right?
So, I'd like to know why this stock is trading? Why are the MMs still making a market for this non-existent stock? It's been over two weeks since the Court made it's ruling.
Are we still shareholders or not?
So, what's going on, here ???
I deleted those posts because they violated the Terms of Service agreement.
Referring to others as Pumpers, etc will also result in the deletion of your post because this is also a violation of the Terms of Service agreement.
I suggest that everyone who wishes to post on this board take a refresher course on the Terms of Service agreement BEFORE they start to even think of continuing the practice of calling others names, etc that can be easily associated with a Personal Attack, Off Topic Posts or other violations.
Welcome back to the civilized world, folks.
"Keepin Da Faith",
-= =-
plmcc
P.S. Link to the Terms of Service: http://investorshub.advfn.com/boards/Terms.aspx
Hi, Foxy.
Nice to see you back on this board !
Sorry, I've been away for a few weeks.
That sounds great !!! I had a feeling that George would come through with the financials, when he was ready (and not when the investors said he should be, either) . . .
"Keepin' Da Faith, Still"
-= =-
plmcc
Been out of town for a few days.
Thanks For The Update !!!
-= plmcc =-
Hey, GA!
Nice to see ya back !!!
I agree. IMO, the longer it takes for the BK to become final, the better off we will all be.
I'm still here, V !!!
I've just been lurkin' to see in what form the latest round of negativity will be. Same Old Arguments, As Usual, Save One: The No Bid Issue.
Well, we're just into the Monday Market three hours and over 200 million shears of ICOA has already traded. So much for the No Bid threat.
I, for one, think George is struggling with the latest round of "Market See-Saw" just like everyone else. And, I think this is creating a difficult situation for George. Now, could I be wrong? You Bet! Have I been PROVEN wrong, yet? Nope! Not by a long shot.
So, let the criticism continue unabated. And while it does, I will be doing what I've always been doing:
"Keepin' Da Faith"
-= =-
plmcc
Wi, Wi, Wi . . .
Still offering opinions as though they are statements of fact, I see.
Yes, it's been a while since we've heard from George. Yes, none of the MMs seem to be all that interested, at the moment, in providing a bid for this stock. Yes, that adds fuel to the fire of no return . . .
And yet a couple of the posters here are still in contact with George and George is saying that he's still hear, still working hard and still planning on rolling out what he says he's going to roll out.
So, is it his TIMING that is throwing you off? Is the fact that it SEEMS to be taking SOOOO long that leds you to BELIEVE (not think) that something "just isn't right"?
Well, I guess some of us just have WAY to much patience for our own good, yes? Or is it that some of us just have WAY to little patience for our own good? Geez, I can't remember, it's been SOOOO long ago.
LOL !!!
"Keepin' Da Faith, Still"
-= =-
plmcc
BUMMER !!!
LOL !
Blanks ???
If Najafi is looking to raise money for "something", having an existing, squeaky clean shell may be looking even more valuable right about now, eh?
Last time I checked, we were waiting on the BK proceedings to be finished so we can find out if the stock gets cancelled or if it has the "Q" dropped and is used for some other purpose, instead.
Just My Opinion, Though . . .
Thanks, StockVoyager! That's a nice collection of data I can go through when I have time.
LOL !!!
You crack me up, Bruce! LOL!
Go ICOA !!!
THANK YOU !!!
"Keepin' Da Faith"
-= =-
plmcc
P.S. Still and Until Proven Otherwise . . .
LOL !!!
So . . .
In your opinion, there is no upside, right?
NOT: "No, there is no upside, period, and we all agree on that . . ."
Speak for yourself, Wi . . .
Please see my post #29630 for some recent figures regarding the current O/S structure.
LOL !!!
Now THAT'S Funny, Rustler !
LOL !!!
OK, Folks, let's try to stay on topic . . .