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I think you hit it on the head Fido. The company doesn't have clinics of it's own and hasn't acquired or done anything to create assets of it's own except the patent for the implant. The company has virtually no assets to help back the value of the stock. They have contracts and agreements with other clinics but those agreements are only an asset if these clinics are sucessful and are limited in amount to the number of procedures it performs.
In the orginal five year plan BICX was suppose to open it's own clinics to establish assets and value in the company. This is a major goal that they have failed to execute and one I believe they're not going to accomplish anytime in the near future.
Selling off shares and will continue to do so. It's been fun everyone but I'm out of here.
Hi Fido, Lots of changes since my last post (10mths ago) but I can't believe we're still stuck in almost the same place. I was really expecting better. Probably should have unloaded my shares months ago but was still hopeful then. I've been involved with this company for almost 4 yrs now and don't see that much improvement.
Be very careful how you word your post on any board. It could be misunderstood as advertising or a pruchase recommendation for the stock. This could open you up to liability law suits if who purchased the stock were to suffer a financial loss or hardship from your advertising or recommendation.
It could also make you liable if you make a statement about the company and it turns out not to be fact. The company could sue you for misrepresentation of their company and claim damage for any posting you have made.
Not saying it's not a good idea, just saying be very careful of how and what you say in your posts.
Actually the DOW has been on the up swing since 2009. The DOW has increased over 1200 points in just the last 3 months and if you look at all the stocks listed you'll find that virtually all have had the same rates of increase including the health field in general. The DOW is currently into historic numbers and have drug even the unwilling stocks with it. Even the dogs in my portfolio have seen undeserved increases because of the DOW's performance. But like I said the bubble will burst again in the near future.
CEYY has had more than ample opportunity to make this thing run and run big but has of yet shown it true potential. Upper management is the problem with this company and nothing much will change until it's management has also. The service they offer is truly a wonderful product but it can't shine until the leaders of this company start to shine.
IMO, CEYY will show minor increases in share price for the next few months or even years but hell will probably freeze over before it hits the big board levels without a serious change in management. I just can't get overly excited over a 5-10 cent change in share price. Show me a $1.00 or more then I might be a believer in this companies leaders.
IMO, I would think a part of the increase we are seeing is due to the overall DOW being at it's highest levels ever. It's a bubble that won't last and will burst again in the near future. The next federal filing should really tell us which way CEYY is headed. A good to great report will certainly have a positive impact but a fair to poor report, IMO, could be devastating for the company. It's far behind in its 5 year plan and original investor are not pleased.
Hi Fido,
Yep, still around but haven't been following CEYY for a while now. Have been very disappointed with performance and developements at Fresh Start since my son left the company. Not much faith that they're going to pull it together and be sucessful any time in the near future. Still have my shares but won't be buying anymore. In my opinion I'll be lucky to ever recoup half of my original investment. Good luck but be very cautious with what you hear and see from Fresh Start, not all seems as it appears with these guys. Investor relations at this time is not even a blip on their radar screen. A lot of games being played!!!
itsdetatti, yep, still around! just waiting and watching like everyone else. Hoping that CEYY can get their house in order and turn this thing around. I still say 2 more years before CEYY starts to get out of the penny stock range. Thats when they'll convince me they are real players. Right now they have to many fires to put out to worry about stock prices and investor relations. They are still in phase 1 and 2 of the business plans and still have a ways to go before they hit phase 3.
Walt5, the numbers are confusing and a little miss leading. The thousands treated are real numbers but are not the number of clients treated here in the US. Fresh start began operations and treatment in Australia and New Zealand before starting business in the US. The numbers represent total clients treated worldwide, while financial numbers only reflect numbers of clients treated in the US.
While CEYY has done well here they still have a long way to go to become top ranked viable corporation. I like you have a substatial amount of funds invested with them. But when I bought in I knew it was not going to be a get rich quick stock, I planned on at least a 5 yr hold before I expected to see a reasonable ROI. About 3 down and 2 yrs to go. Good luck and be prepared to wait.
Fido, you're absolutely correct, maintaining regulatory filings are part of the business plans, a very large part, and FSP has dropped the ball performing on this part of the plan. I would have thought they would have better control over their operation by now, they still have a long way to go in their business plan to be able to say they deserve to be a publicly traded company.
Most people don't understand that operating a business is much more involved than, having a product/service and selling that product/service. Your business plan includes virtually hundreds of processes, procedures, operations, rules, regulations, restrictions, reports, warranties, standards, principals and financials which all have to be addressed and completed on a regular basis. FSP will eventually accomplish their business plan but, with their past track record and current issues and problems, I fear it's going to be a lot longer than most of are willing to wait before they are truly viable and start to worry about the 3rd leg of the business, the "Shareholder".
When starting a new business there are 3 typical priorities for developing a business. They are: Develope customer base, achieve business plan, increase stock value. Each step feeds the next and if achieved a successful business company is created. Currently FSP has down well with the first priority and are working on the second. The third is what we are all concerned about and unfortunately it's their last priority. In all actuality stock prices are largely out of the hands of the company, it is more dependent on investors' preferences, acumen, risk, market conditions, and dynamics of investing based on individual investor strategies.
Because of the inexperience of FSP's management team, IMO, it's going to be a long wait before they're going to be truly concerned about shareholders and what price their shares are trading. With current customers and revenues they can continue to operate and work their business plans for a long time to come without worrying about stock prices.
Hey Fido, hope all is well. IMO, it's not just their accounting house they need to get in order. I've been waiting for almost 2 yrs for a true business leader to pop out of this and haven't seen one yet. The only one, to me, that has come close is Tim Jackoboice from FSP Florida. Good track record and great communication skills.
Spent Monday planting US Flag at markers of the local servicemen who gave it all for our freedoms. Then had lunch at the local VFW with a great bunch of Viet Nam Vets. Hope all the servicemen on this board had a great day. Thanks for your service!!!!
Without any outside manipulation or influences, I believe the next 6-9 months will show what this company is made of and determine if it's going to be successful or not. I know that they are looking at expansion and would like to add one or more clinics of their own before the end of the year. From a contact I have I am told Glacier Holdings recognizes the potential of FSP and would like to expand with clinics in N Florida and Georgia. If FSP could accomplish this in the next few quarters all of us could be rolling in some serious funds.
The 200-300 trades have slowed down tremendously but there are more 1000-2000 trades happening, they may have varied their lot sizes and people aren't noticing. I still believe they're short selling and manipulating the pps to their benefit and screwing the avg investor. If more investors did complain then FINRA would definitly have to take some action.
Received communication from Tim Jackoboice at FSP Florida, glad to see they are finally coming online and starting to do the procedure. They did their first procedure this month. Hopefully this will help CEYY's bottom line in the next quarter and help move this iceberg along. Hopefully FSP Calif can get their act together, solve it's reporting problems and get back on track. I'm not like others on this board I'm not ready to give up just yet. FSP is to close to getting this thing in high gear.
On April 26, 2012 I also sent a complaint to Patricia Clem at FINRA about the seemingly illegal practices of the MM's. About a week ago I received almost the exact same letter that you just posted. Unfortunately I believe it is a form letter that is sent mainly to appease that angry investor. I have heard nothing else since receipt of the e:mail. I hope I am wrong but I don't believe anything will happen unless we have absolute documented proof that illegal activity did occur and can prove it. Unless I'm mistaken, I believe that GOLDBUFFALO also recieved the same letter more than a month ago.
I'd like to take a moment to say "thank you" to all my fellow Veterans that may be on this board. Thank you for your service, dedication and sacrifices that you made serving this great country. I appreciate all that you have given and done to protect our freedoms. A big "HOOORAHHH" to all of you!!!!
I don't know about the insurance claims and how they will match up (I'm positive they will be close) but there is one bright spot and that is the Glacier Clinics in Florida have come on line. They started doing the procedure this month and should be contributing to the CEYY bottom line soon. So if CEYY were going to fold or try to screw all their investors I don't think they would be starting to do business in Florida and continuing business in Calif.
I'm in for the full ride on this thing and I'm looking forward to the day they make it big. I just hope all the investor that keep flip flopping on this thing sell so that all of us who have believed in this and who have stuck it out can celerate and enjoy the fruits of our commitments.
I would not expect great numbers come Monday, as I have said for several months now the numbers will be good and show improvement but won't be anything to set the world on fire. Number of clients will be up, income and revenues will be up, profits will be up and expenditures will also be up resulting in good net numbers but small profits.
I really wouldn't expect to find sizable income from Glacier Holdings I would be surprised to see any at all at this point. From time of signing they were going to have to be trained on the medical/surgical procedure as well the mental/psychological counseling of the patients. Will take several months to setup and prepare for these activities.
Things are looking good but IMO great numbers won't happen till the 2nd or 3rd qtr of 2012.
GOOoo CEYY.....
This is great news if it really has nappened. I've been monitoring Edgars all day and have seen nothing from them. It will probably be tomorrow morning before we see the actual report (hopefully).
Hey Fido, agree that it's nice to see calmness coming back to the board after a rocky morning. I think a lot of investors are feeling the pressure and frustrations of penny stock investing. Hopefully all will realize that stocks are not a get rich quick investment.
Like you, I don't think we will see anything until Friday morning before we really know whats going on. And as I have said in the past I don't think we are going to see any earth shaking numbers. From what I have seen and heard the numbers will be good and show definite improvment which is what we are looking for. Any improvement will set CEYY nicely for the next quarter.
Hope things went well for you today, my night shift starts in a couple hours.
I don't know if you could put all the blame on the last accounting firm. CEYY has gone through several accounting firms. They still have a lawsuit pending with one of them. With the delays and extensions that CEYY has had in the past I would almost bet that all the previous accountants have contributed to CEYY's whoes. I would hope that CEYY would use everyday of this time to get their books in order and make sure their federal filings are correct and up to date. IMO a companies financials and filings are actually more importamt than the product or services they offer.
It would depends on many factors but to simplify, depending on how correct and complete CEYYs financial data is and how far back in time it needs to look a good accounting team should be able to complete a thorough analysis in less than 30 days. Since CEYY 's history is fairly short they should be able to complete an audit and have proper work filled in the 30 day window.
But all this depends on how bad previous accountants messed up the financial data, the federal fillings and the availablility of correct data.
Fresh Start Private is currently using a new accounting firm located in Irvine, Ca. The company is Mendoza Berger and Company, LLP. I looked them up in the "Public Company Accounting Oversight Board". They seem to have a good record with the PCAOB but do have sum deficiencies in their audit procedures. I found one review from a former client:
"Crappy company. They messed up our taxes (several other professionals have since confirmed this), then tried to bill us for their time to fix them. There are plenty of GOOD accountants out there, so I highly recommend skipping these guys".
I hope they do a better job than this for FSP.
So, possibly we won't hear any news or see any filings until May 17th correct? If I was CEYY I would take as much time as possible to make sure all fillings were correct and up to date before I submitted paperwork. Then I think I would hire a true CFO or at minimum find a accounting firm that actually knows the requirements for filing federal reports.
Fresh Start became delinquent and the "E" was added on about April 17th, so actually they have until approx. May 17th to get all filings completed and all paperwork in order before we really have a problem. Correct? or am I mistaken?
If we don't hear something from Fresh Start by next week I'll be making my appointment. Even though I'm really starting to like "Long Island Ice Tea".
I've found that about half of the info I receive is only partially correct and have to apply logic filters to the rest. We can't be correct all the time if we were we would all be rich.
I hope your info is better than mine, I've heard they will post only reasonably financials with improved performance numbers ie: cliental, etc.
Send me the contact info and I'll make contact and send info.
What was FINRA's response? Can and are they going to do anything about it? The legality of the practice should be questioned at min.
Just tried to buy 10,000 shares, but was only able to get 2200. What's going on? Remainder of my order is still open.
We're all ready and waiting!!!!!! Please hurry!!!
Does anyone know if Fresh Start ever settled their law suit with one of it's previous accounting firms? It was filed about last October but haven't heard about any settlement.
Sorry Bones80 I totally disagree. Fresh Start has been doing a very good job collecting on insurance claims for the treatment. They have problems collecting from one insurer and that is Blue Cross Blue Shield of California which has a history of late or delayed payments. Otherwise claims are being paid. IMO after a couple quarters of solid performance and good filings it will really take off.
Totally agree, the current staff isn't equiped to handle the mass of information, data and paperwork that's required in a federal filing. They need a real CFO to handle the financials.
They also need full time people handling tasks like marketing, PR, physical exams and surgeries and not part time people who show up on an as needed basis.
Goldbuffalo, I'm not getting negative either, just pointing out that Fresh Start management team itself knows that they are inexperienced and don't understand the process of meeting and completing the federal filing requirements. It's evident that they're in the dark about what and how to do what is needed. All of their late and amended filings and current problem lends credences to that inexperience. CEYY is still a young company and has a ways to go to get this company moving along smoothly. That's one reason why I believe it's going to be a year or more before this thing really takes off. Currently to many holes to fill and not enough experienced bodies to fill them
I have posted this before, it's from a previous CEYY 8K filing, but I think it really applies here with the missed dates for the lastest federal filing. It gives some insight as to the capabilities of Fresh Starts management team. It could also give some clues as to why expansion, PR and stock performance hasn't moved the way all us investors had hoped.
Our management team lacks public company experience, which could impair our ability to comply with legal and regulatory requirements such as those imposed by Sarbanes-Oxley Act of 2002. Our senior management has little experience in managing a publicly traded company. Such responsibilities include complying with federal securities laws and making required disclosures on a timely basis. Our senior management may not be able to implement programs and policies in an effective and timely manner that adequately respond to such increased legal, regulatory compliance and reporting requirements, including the establishing and maintaining of internal controls over financial reporting. Any such deficiencies, weaknesses or lack of compliance could have a materially adverse effect on our ability to comply with the reporting requirements of the Securities Exchange Act of 1934 which is necessary to maintain our public company status. If we were to fail to fulfill those obligations, our ability to continue as a U.S. public company would be in jeopardy in which event you could lose your entire investment in our company.
I know it was BC/BS that really gave them a major kick start. That's why it's surprising that Fresh Start is having difficulty in collecting from them. But I do know that "BC/BS of California" is known for late or lenghty payments. My wife was an office manager for doctors who accepted BC/BS and she always had difficulty in receiving payment from them. They don't seem to have a problem with other insurers.
DarkKnight, Fresh start would only need money if they were opening clinics of their own. If they franchise the operation and name then the cost to CEYY would be minimal and would generate revenue for them. There captial outlay on a franchise or exisiting clinic would be virtually zero.
I totally agree the stock needs promoting, but they maybe waiting till they can really post some major improvements and expansion of the company. Nothing says growth and strength better than more clinics, revenue and profits.
Pip611, from what I have heard the number of patients vary greatly from week to week. One week they'll have 4-5 patients the next week only a couple then it may be a couple weeks before they'll have another procedure to perform. From what I can gather they are averaging from 1-2 clients per week.
From the rumors I've heard insurance claims are going well and being paid except for Blue Cross/Blue Shield of California. They are excepting claims but are taking several months to pay, which is not uncommon for BC/BS of Cal. I thought Fresh Start was using the medical bill/pay company to recieve payments faster so I would think that it shouldn't be a problem but it seems to be raising concerns within CEYY.
I guess we'll be able to see soon if any of this is causing problems with the bottom line. GOOooooo CEYY !!!!!!
Positive attitude - agreed
Good ROI in time - agreed
Want to be on fire!!!! - not in this lifetime, but next life who knows?
Don't get me wrong I'm very optimistic about the stock and CEYY but I am also a realist. I base my opinions on what I hear from friends, news sources and contacts that I know. And you are 100% correct, that it could take 3 days or 3 years no one knows for sure. I'm just basing my opinions on information and facts I receive from my sources. And based on my info, IMO, the next quarterly report will be good but nothing that will set the world on fire.