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Wow! I jut went and read that board. Did you not get a release mailed to you? Looks like some of the other small timers got theirs. Anyways a little over two weeks until the the POR here at DINIQ, assuming no more extensions. I'm ready!
Sadly, my warning post came true. 379 securities suspended today. Good luck in the future.
bid creeping up. 1.5M .0019 Somebody wants in they've been moving it up one point every half an hour or so, since .0015. Do they know something? I hope so!
Sure thing, here is just one of many articles. AVPI was a pretty popular company back in the day. If you google AVP Inc. bankruptcy, you will have all the resources you will ever need concerning AVPI. The assets were sold to DFA PVA II Partners LLC, their main creditor. I researched this one a whole lot and ultimately am waiting for the shell owner to make a move.
http://blogs.wsj.com/bankruptcy/2010/12/17/court-approves-avp-sale-to-existing-shareholder/
Heres a google link list, also try some of the related searches at the bottom of the google page. It will take you to some of the BK filings. Good luck!
https://www.google.com/search?q=avp+inc&ie=utf-8&oe=utf-8&aq=t&rls=org.mozilla:en-US:official&client=firefox-a#hl=en&safe=off&client=firefox-a&hs=qjC&rls=org.mozilla:en-US:official&q=avp+bankruptcy&revid=1539632837&sa=X&ei=y-yrT77NMY-k8ATj2pAa&ved=0CCEQ1QIoBg&bav=on.2,or.r_gc.r_pw.r_qf.,cf.osb&fp=ab407b5897f76374&biw=1366&bih=624
On a side note with the debt forgiveness it is a clean shell awaiting some kind of reverse merger.
Yup I agree. I hope to see some filings & PR's shortly. If the Walgreens launch is June as per Mo's facebook page, were only a few weeks away! Stay tuned! lol
AVPI and the American Professional Beach volleyball Organization are not one and the same. In the bankruptcy proceedings AVP American Professional Beach Volleyball Organization (the assets) were purchased, leaving AVPI as a shell. I've spoken to Jason Hodell (past president) and Delaware SOS concerning this. Your best bet is to petition Delaware SOS for a plain copy of the annual franchise tax report (2011) for AVPI, file #2402270. It costs $12.00 and it will list the owners of AVPI. Then you will know who owns the AVPI shell. Good luck.
Jax- thanks for that read. Also thanks for that tip on that other security that you pm'd me. As far as DINIQ goes have you given any thought or done any research on taxes, tax refunds, and lastly NOL's for 2011? I know they received a 1.2M refund for 2009. Here is a quote from a PR from the 2009 year end "In addition, based on the recent change to net operating loss carryback rules we will be receiving a $1.2 million tax refund." I haven't looked to hard for 2010 yet, it may be a little harder to find as that was the year of the deregistering of their securities. I am not a great tax legal mind and definitely do not know what the implications / ramifications of the selling off of all of the assets will be pertaining to the tax situation. Maybe thats why they kept the Haleyville property in effect, I know there are some pretty strict regulations concerning NOL's and the utilization of them. 1)Being a ongoing concern? I havent really invested much time lately pertaining to DINIQ research but if they have a tax refund anything like 2009 that will help out immensely in PPS valuation. Heck if they got 1M refund x 3M shares, that .33 PPS alone! Heck even selling a clean shell company garners between 250k to 500k. Granted we dont really know the end game here yet, but I am confident that they are A) in the money B) maximizing shareholder value. I recently read some of Robotti's shareholder activist letters and with his guy Chris Sansone on the board I'd like to think that equity is protected pretty well concerning this.
http://www.robotti.com/media.php
Hopefully we will see what exactly will be happening here in a few short weeks. In the past I have seen companies that have liquidated do an initial disbursement to shareholders and then succeeding disbursements as things wind down, i.e. tax refunds etc...
Sadly, that window has closed. From the time of the initial suspension to the time of revocation was the window for opportunity. USFM needed to address the situation of the filings right then and there. They obviously didn't as revocation came upon USFM. I am in another stock which was also suspended but that ceo has responded to the SEC and they have not been revoked, yet. I was told that they asked for 120 days to remedy to filing situation and were obviously granted it. The other 4 companies did not respond to the suspension and all were revoked. What this shows me in the case of USFM is that they didnt even attempt to get an extension of time from the SEC to attempt to get current on filings. The part that pisses me off is that from when Farooquee took over in march until suspension which was at least 6 months, he could have deregistered the stock (15-12g). And yet he didnt.
I was wondering if you had a link to the "Blueky" site you mentioned in your post that I am responding to. Thank you.
Yup, I bought some more also. Nice little pick up for me on a small amount of money volume to the downside ($3,452).
Wow! That is huge news!
Nice! Looking forward to the more acquisitions and news update parts! .02 plus will not be very far off.
COBI- could it be todays winner?
I guess we now know why Ronny Halpern left BGEM as CEO. He was a naughty boy. If you own shares here in BGEM be cautious, who knows if he has pulled the same kind of hijinx as he did with RCYT and HYGN.
http://www.otcmarkets.com/stock/RCYT/news/SEC-Charges-Florida-Stock-Scheme-Mastermind-and-10-Cohorts?id=46243
Where would the 1.3M Abbotsford sale be included in your post? Under the 725K inventory?
Yup I agree. Will just have to wait for the news hype to die off and languish for xx amount of months and then BAM! Get a couple hundred thousand shares in the trips. Good luck!
Great thanks! I did not know where that information was coming from. I do not have a total of all the assets sold. Enjoy your day!
What a crappy press release. Are the assets acquired by senior investors now privately held? Is this now just another shell in the graveyard of OTC shells? To me it sounds like it. Nevada SOS now dissolved.
http://nvsos.gov/sosentitysearch/corpActions.aspx?lx8nvq=kl0uSUgAhKABCugBqcnyfg%253d%253d&CorpName=CELSIA+TECHNOLOGIES%2c+INC.
Yup I get that. The stalking horse bid was 380K, which you quoted in your post. Have you seen finalization of the sale price? I haven't. It was to close last Friday. Like I said I am on cruise control here at this point. I've done all the research I needed to make my investment here. Feel free to post any kind of information you find if you choose to dig deeper. Have a great day!
I havent run any valuations lately. And that may be difficult to do now with the Abbotsford WI sale. Where you would deduct the 1.3M they were paid for the business out of the summary of schedules would be difficult unless you are a CPA and I am not. I would assume that the tools and clients were what is sold in that transaction. I believe the building was sold some time in the past (prior to BK) as they had been paying a monthly lease stipend when they entered into BK and wasnt listed in the assets on the summary schedule. The sale of the mobile home division assumedly closed last Friday. I have not seen any online information yet as to the final sale price. It was a stalking horse bid starting at 380K, but from all of the previous stalking horse bid sales, I would think it's safe to say they garnered more than that. And possibly exponentially more. Assets listed going into BK were 8.4M and liabilities at 3.4M. They have been getting more than book value on real estate sales. We are only a month away from POR, hopefully it doesnt need to be extended and we get a peek behind the curtain. I am on cruise control here and not concerned with creditors vs equity situation. I believe creditors will be made whole and there will be 5M for distribution. Good luck!
Very nice!
I don't know if beers were involved but looks like it was one heck of a party!
http://www.jailbase.com/en/arrested/fl-mdc/2012-03-01/anne-vanessa-mccarty-120013518
http://www.jailbase.com/en/arrested/fl-mdc/2012-03-01/jordon-mccarty-120013519
I think they realized that the true valuation put the company at roughly $ 1.50 or better, and realized that the OTC is very illiquid and probably would never see an actual true valuation ever again. Although Robotti will never see anything close to what he paid for his shares, at least he will recover more than he ever could down here in the wild wild west also known as the OTC. On some of his form 4's were from $5.00 and up. I am looking forward to June 02, 2012. After that I will have 6 months to burn through the proceeds prior to the Mayan calendar date for the end of the world. See you all on the other side!
The CEO change from Armando Casciati to Peter Scalise iii just happened today, as well as going from inactive to active on Washington SOS. Rome wasnt built in a day.
Armando Casciati gone and new shell owner Peter Scalise III
http://www.sos.wa.gov/corps/search_detail.aspx?ubi=602021123
Proton Laboratories Inc.
http://www.sos.wa.gov/corps/search_detail.aspx?ubi=602021123
CEO Peter Scalise III
MM's are messing with this now. I have a bid order in for .20 and its not showing up on the level 2. Bogus!
I finally bought in today. I've been watching this one for a few months always envious of not owning it. After reading the CEO's posts here and how transparent he is with the current state of SMKY. I'm glad to finally get in. Good luck to all!
Speaking of Jehu Hand. Fresh news of more of his shennanigans.
http://ih.advfn.com/p.php?pid=nmona&article=52153005&symbol=VTMS
Covalent International Inc. fka Covalent Energy International Inc. which was fka Chartwell International Inc.
http://nvsos.gov/sosentitysearch/corpActions.aspx?lx8nvq=GnHiO5ldDODS6RLNKB0Rew%253d%253d&CorpName=COVALENT+INTERNATIONAL%2c+INC.
Response from Tim Holley of Red Alert (the incoming merger party)
Re: Hello Tim.
Show Details
Welcome to our new adventure. How many shares did you purchase and when?
Thank you for your email and advice. All of what you say is usually applicable. Not in this situation.
Without giving non-public information, please know the reverse split was a necessary financial accommodation for certain prospective institutional investors who are shareholders and or otherwise connected to Red Alert Group, Inc., a Georgia corporation.
As announced, SSTC will become Red Alert Media Matrix Holding Corp. and we intend to launch a 24-hour global news network. Significant work has been done to attract targeted, known large investment and to start operations. Obviously, there can be no guarantee that any investment will be made or that we will successfully start operations. The only guarantee we will ever give is to do our best to maximize shareholder value.
All the Best
Tim Holly
At this point Sovereign Oil, Inc. is still revoked by Nevada SOS.
http://nvsos.gov/sosentitysearch/CorpDetails.aspx?lx8nvq=QxGcEKTYlsHEofeJ7O1Cwg%253d%253d
And Florida SOS does not have a merge in as of yet on GIHI.
http://www.sunbiz.org/scripts/cordet.exe?action=DETFIL&inq_doc_number=P97000056725&inq_came_from=NAMFWD&cor_web_names_seq_number=0001&names_name_ind=&names_cor_number=&names_name_seq=&names_name_ind=&names_comp_name=GLOBALGROUPINVESTMENTHOLDINGS&names_filing_type=
But I am sure eventually all of that paper work will be filed. Like I mentioned in my prior post it seems like Stan takes a few months to get everything settled in prior to getting the fireworks lit.
Stanley F. Wilson acquired Sovereign Oil, Inc. from OTC:USRI fka OTC:VYGO, when OTC:VYGO became OTC:USRI in the reverse merge of March 2011. This is from OTC:USRI annual report published Apr. 12th, 2012.
http://www.otcmarkets.com/stock/USRI/financials See page 8.
And this from the OTC:GIHI header on OTC Markets
Notice the "Diversified holding company that owns and operates Sovereign Oil, Inc."
http://www.otcmarkets.com/stock/GIHI/company-info
At this point this is very under the radar. I believe it's by design that Stan is doing this quietly at this point. Look at the genesis of the AERN merge and you will see a similar pattern. IMO when Stan is ready he will probably get the paid promotion machine fired up much like he did with AERN last September. Although I really haven't researched Sovereign Oil, Inc. much yet. It does seem that they have or at least had a ongoing operation with infrastructure. Here is a old press release pertaining to Sovereign Oil, Inc. when operating under the OTC:VYGO umbrella.
http://www.globenewswire.com/newsroom/news.html?d=124140
I am certainly not a BK guru but in my opinion a chapter 11 gave them more flexibility and the appearance of some sort of leverage in negotiations. Which seems to be the modus operandi of quite a few bankrutcies, hell even Lehman went chapter 11 and that thing was so underwater it wasn't even funny. Ultimately when the POR comes out in June, my opinion is that it will be a shares cancelled and a $1.50'ish per share disbursement. I don't believe there is any mystery behind this as to a reorganized company coming out of this and doing business whether it be textiles or any other thing for that matter. These guys arent the "magical" typical otc pink player that change their business direction every year or so, like so many of the hustlers down there seem to do. There selling off everything and getting more than what they had for book value on the summary schedule. I think they gave up the ghost so to speak when they realized how shitty it is to trade on the OTC's. I see this also as another reason they gave Robotti a board position, so they could participate in the unwinding. As a shareholder only, material information would not have been privy to them. At which point we definitely would of seen an equity committee. I am pretty confident in the way this will pan out. Every thing will be sold off at a premium to book value no less. In early may they have those RV BK claims to deal with and then probably all the other administrative stuff. After that the POR which I think will be accepted by the creditors as they will have plenty of liquidity to make them whole. Like I said earlier in this post my guesstimate is $ 1.50 per share.
In my opinion we aren't at that stage of the game yet. Theres still roughly 100M shares in the treasury that havent been issued. Maybe in 6 months to a year when they are bumped up against the total outstanding, then you may wanna be aware of an authorizing share increase or reverse split. But we still have plenty of time before that becomes a reality. But if you wanna sell me some shares at .007 go right ahead. I got some more today and yesterday. We got some runs coming before any material events happen pertaining to share structure situations. They just did an increase in March to the now 250 million authorized. If they were going to deplete share value they would of increased in the billions when they did the authorization. Kinda like mini mar does when they do reverse mergers. Doesnt seem to be the modus operandi here yet. Good luck!
It's been mentioned here and I certainly knew about it. Not really a big deal to me as it's miniscule in comparison to the ones that are done by shady triple 0's companies, which run into the 1000's for 1 category. Eventually this one will have it's day, they all do.