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I thought I heard that he can't buy on days when a PR is released.
A 25% PPS increase so far today is next to nothing? Ok.....
Just added a little bit more....
That's not what I see. Please explain your statement.
HOLBROOK, N.Y., March 12, 2013 /PRNewswire/ -- Northstar Global Business Services, Inc. Symbol (OTCPink: MDIN), today announced that the appropriate forms have been filed and fees have been paid to bring it's standing with the state of Nevada "current and active," an important step in getting the DTCC Chill removed from the company's securities. The Nevada Secretary of State website should be updated within 48 hours with the correct information to show this change.
The announcement is one that brings relief to the company's CEO, Nick Chieco, who stated, "We felt the fees were excessive and unfair, and we did try to negotiate with them, but we just couldn't delay our plans any longer. I am relieved to know it is settled one way or the other and we can now submit our DTCC package to get the chill removed once and for all."
While lowering the number of authorized shares is important, the most critical hold up was the application to remove the DTCC "Chill" that the DTCC placed on Northstar back in 2010. The documentation that the DTCC requested in order to remove the chill could not be submitted as long as the company did not have satisfactory standing with its state of incorporation. Now that it is current in it's standing, the company can submit it's package and the DTCC can move forward to process it. The process has typically taken about 30 days for other firms in the past although there is no official timeframe.
As part of this process, the company has lowered its number of authorized shares by over ten billion shares. The number of authorized shares will now be only one billion five hundred million (1,500,000,000) shares. This step is being taken not only tighten up the share structure, but to also help Northstar position itself to apply for listing on a higher tier exchange in the near future. Mr. Chieco adds, "Our original plan was to decrease our authorized shares even lower, but after further research we have discovered that in order to meet the requirements of some exchanges, having 1.5 billion shares authorized was a better fit for the company."
In addition to this, the company is pleased to announce that it has bought back approximately 33 million shares from individual shareholders as part of its recently announced buy-back program, which is still in effect and going strong. The company plans to continue to purchase shares and looking for other ways to increase shareholder value by tightening up its share structure. The company continues to show that as it builds its business model and grows as a company, Northstar will continue to take every opportunity to maximize value for its shareholders.
For more information about Northstar, Contact Jennifer at 1-877-571-4387 or Email: investors@northstarbb.com
About Northstar
Northstar Global Business Services is dedicated to producing the best alternative healthcare products. The most popular products in Northstar's arsenal are Snorenz©, a patented spray for snoring relief and Stem-Intense, a unique stem cell replacement therapy supplement. Most of the company's products use a unique spray delivery system, and have received very positive consumer reviews all over the world, selling millions upon millions of units from 1996 to the present.
DISCLAIMER
This Press Release may contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company has tried, whenever possible, to identify these forward-looking statements using words such as "anticipates," "believes," "estimates," "expects," "plans," "intends," "potential" and similar expressions. These statements reflect the Company's current beliefs and are based upon information currently available to it. Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause the Company's actual results, performance or achievements to differ materially from those expressed in or implied by such statements. The Company undertakes no obligation to update or advise in the event of any change, addition or alteration to the information catered in this Press Release including such forward-looking statements.
SOURCE Northstar Global Business Services, Inc.
Copyright 2013 PR Newswire
Disher, email sent.
I like how the PR began:
How many 4s are left?
It seems that it's just starting Disher...
I'm long as well. Haven't sold a share. I'll wait and see what happens before I decide what to do, pre or post RM, or a combination.
Every tick is exciting for me. Each one is a 100% gain. I got in at .0001 just over a year ago.
No sympathy for him. He shorted 11.65 million shares at .0003 and will try to cover at .0002 to make $1165. Had he just bought at .0004, he'd have ~8 million shares and would make $800 a tick. I just don't understand it.
$1165 a tick.
It's getting reduced to 999,999,999.
I got in on this "POS" stock at .0001. I have no complaints. I'm not selling yet either.
DrozdDawg, do you believe MMTE will ever trade again? If you do, what gives you that confidence?
stju1979 mentioned 15 mil at the ask. Thanks anyway.
Anyone have an L2?
Today I've been in NVAE for a year. Long term capital gains and 100% profit if I sold today at the bid (which I have no intention of doing). Locked at $0.12.
Has anyone tried to buy shares today. It's kind of curious that there've been no buys today.
Joe, I'm not down. It just bothers me when CEOs don't proof read a PR. If that's not their strong suit, that's fine, but find someone who can proof read it. I have a lot of confidence in this company. Just waiting now.
Horrible grammar. Doesn't say anything we don't already know. It's a start though....
....or get a conscience....
Next year I'll have had this stock for a year. I bought it when news first came out of this merger & got it at .0001. I'm up 100% now. I'm happy. Not sure where I'll sell but I know I'll make a profit. Long term capital gains too!
Rocky, trust, once lost, is often difficult to regain. It definitely doesn't happen overnight. WL has lost the trust of most here. Speaking for myself, I feel I trusted him far too long. I need to hear from him pubically, and then action needs to be taken to rectify the situation. A vague email to an individual won't cut it.
Please understand that none of this is aimed at you. I understand that you're trying to help. I'm just not convinced that WL cares enough to want to fix his wrongs. Heck, he may not have done anything wrong (but I doubt it). He needs to make the shareholders aware of the situation and what caused this to happen to this stock. He alone is the CEO. He is accountable.
I'm still waiting for a public explanatiion of what he did to this company and why he diluted it to death. I also want to publically know what the status is of the concessions. I want this made public for all shareholders, not in a private email.
I've communicated with WL several times by email. When I got a response, it was to the effect of "just wait a bit". He needs to communicate publicly to everyone, not a one line response to individuals.
This difficult situation with the other company you speak of - WL never commented to the shareholders as a whole for months about the "difficult situation". We don't even know what the difficulty is, other than his diluting it to death. Yeah, that's difficult, but for who? Why did he dilute? I'm still waiting for an explanation from him.
I see this company heading down the same path. I wouldn't put a cent into this company.
Rocky, I really hope you're right about all of this. I have a hard time believing anything WL is associated with right now with what happened at the other company. Unfortunately, all I (and many others) can do is wait and hope.
A subsidiary, huh? Sounds familiar....
By saying you had a conversation with WL but refusing to disclose any of the contents, you're effectively doing just that. It really does look like a pump. Too many of us have been smacked around too much here to blindly accept that. Details are needed, and from the CEO officially. Until that happens, I have a hard time blindly accepting comments from anyone saying WL is concerned about the shareholder.
Rocky, I would love to hear your "insightful notes". Unfortunately, all we know is that you spoke to WL and that we "will be surprised". We all have been surprised, and not in a good way. Again, we must wait. Unfortunately for all of us here, that is the only option. Dangling carrot comes to mind.
What does tier change mean? Thanks.
127k long shares here. Not a lot but I'll take it.
With the events over the past year, when I hear comments like that from WL, mushrooms come to mind.
While this will be good information to have, keep in mind that it is an estimate of future proceeds and expenses. I suspect he wants to shed this information in the best possible light. I intend to take this information with a grain of salt. I am curious to see it, as are all of you I'm sure.
Don't forget to consider all the other expenses - warhousing, shipping, payroll, taxes, etc....
A pro forma profit and loss statement, also known as a pro forma income statement, is a projection of a business' anticipated profitability. It is a management tool to help forecast a company's financial future by comparing its projected income to its anticipated expenses.
635,652,747 - 466,666,665 - 168,086,082 = 900,000
Where are those 900k shares?
I have no clue how much, if anything, he paid for the remaining 875 million shares. All we can estimate is that the PPS needs to get to at least .001 for him to break even if he didn't pay for any of the other shares.
I remember seeing that he owns 1 billion as well. I only know what he paid for the 125 million related to CLIL.
ofspring, here are the numbers:
WL bought his share of CLIL for $999,000 and transferred CLIL to MMTE for 125 million shares
$999,000/125,000,000 = $0.007992
So JB, what does your 14 yr old granddaughter say?