Here to make money and always win
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Just a little dd
The plantoniumorganics.com website is kaput. Their hosting agreement with godaddy expired in January. The website is for sale. Maybe we can pool our plantonium tokens and buy the site.
Let us all remember Kwak the Elder lent ECOS the money needed to build the digester. When the money came in from LRS it likely went to Kwak the Elder to pay off his loan.
Some of this you can see from some of their last filings. It shows the costs of the digester to date in inventory and a loan from Kwak. Those financials were early in the digester construction process.
Of course we would be able to validate this if they filed financials or updated shareholders.
They could respond but my gut tells me that they are not really operating ECOS any more. The Kwaks are back to running HanscomK (whatever that entails) and Seigel is back doing whatever he was doing before ECOS (but hopefully not the strip club or the no tell motel).
That would be true if the Company had an actual office. The Company has operated through a phone at a desk in a lawyer's office in Barrington. They are completely virtual and have been since they left Morton Grove.
If they choose not to respond to investor messages left on the office phone or on email, I say call them at home. This is likely the only way to reach the "Company".
You could always call the Kwaks and Siegel at home. Their numbers are listed.
Don
That report appears to have a small error. Most (if not all) of the entities listed in the teaser article are actually in the battery business, not the lens business. I think the intro was copied from an earlier report on the battery business. ECOS stopped their nano battery business (which was another licensing deal on behalf of another Korean company) a few years ago. It was the technology prom othey did before chicken coop heaters.
Of course since it is on the internet it must be true since everything on the internet is true.
Remember before the LRS deal they were living hand to mouth. They were selling shares and doing note deals with people like Asher and Fife to fund themselves. The convertible note market was killed by the SEC so that funding source dried up.
The LRS machine was financed via a loan from Kwak's other company. They iikely paid that loan back when LRS paid ECOS.
If you look back before 2017 you will see they stopped filing for a while. When the LRS deal came along they needed to get current to sign that deal. If something else comes along they will figure out how to get current again.
Yep that has always been the case. It would likely take a couple of months to file the delinquent q's and k's.
Yes, ECOS would need to be current with the SEC and in good standing under Nevada law for the insiders (Kwak, Siegel) to sell the company or its interest in BioArt to LRS. LRS lawyers would want a good standing certificate in a sale transaction involving the company or BioArt and both transactions would require a shareholder vote (the insiders control the vote through their preferred shares).
Of course, they could become current for about $100k (the cost of the audits for the last two years and the Nevada Secretary of State fees).
I thought the Board concluded he lives in his mother's basement and is waiting for his inheritance.
No
In your example if you walk on to the Atkinson landfiil and see digesters and nobody form LRS, ECOS or Alsource told you anything about what you saw or directed you to them, you are merely relaying an observation, not a fact related to you by a person with inside information.
The reason AllSource is different is that they are a distributor of ECOS. To the extent as a result of their relationship with ECOS, they learn of plans about ECOS building digesters which ECOS has not publicly disclosed, they are relaying nonpublic information about a public company.
I know this may seem nuanced but there was a conviction in the 1980's of a person who got nonpublic information about one of his firms clients. He related it to two gentlemen named Boesky and Levine. The person who passed the information to Boesky and Levine was charged with the dissemination of nonpublic information about a public company. Even though he made no money from passing the info on he got fined by the SEC ad got to spend a short stay at club fed
study securities law. One becomes an insider if they have nonpublic information about a public company that they obtained from the company or company insider or adviser. AllSource would be treated as an insider under these rules if ECOS or an ECOS employee or shareholder told them this info.
ECOS has never definitely said they were building 8 or 12 digesters only that they desired to. Therefore if they are now building them and AllSource is releasing that info they are providing public company confidential information.
Trust me I hope its true. I just think AllSource might want to be a lot more careful.
There is a difference between ECOS discussions around the announcement of the LRS deal back in 2017 and any statement made by AllSource in 2019.
As you recall, Kwak stated it was their plan or desire to build a digester farm (but no agreements were executed to make that a reality). It was at best a wish or hope, not a reality or firm commitment.
AllSource making a comment in 2019 is viewed in a different light. If they said as you know ECOS wanted to build a 12 digester farm they could use the 2017 statement as cover for their current comment. But as reported on this Board the statement was much more direct, like 12 digesters were being built. AllSource can't rely on the prior ECOS statement as a defense or support of their current statement (if that was their current statement).
If AllSsource actually said what they are reported to have said they are all out their on their own and the 2017 statement by ECOS doesn't protect them.
right. the rules prohibit providing confidential or misleading information. If I were them I would avoid telling any ECOS shareholder confidential information that ecos hasn't themselves shared with the public. Nothing good ever comes from making that type of disclosure
just because they are private doesn't exempt them from providing information on public registrants like ECOS. If their information is false or misleading they can be subject to SEC civil enforcement. So even as a private company you want to avoid making statements about public market companies you are doing business with.
ECOS doesn't have a parent company in Korea or elsewhere. It had a subsidiary in Korea which is defunct.
ECOS was working as a distributor for a number of Korean companies for their technology. The disgeter technology, Mfueld and the nano battery all came from Korean companies (which the elder Kwak sourced for them).
Don
They are sourcing from old material. ECOS was selling a Korean companies battery. That project died a number of years back.
I did a little research. The domain name ecolocap.com is still owned by them (see below).
Domain Name: ECOLOCAP.COM
Registry Domain ID: 1238716649_DOMAIN_COM-VRSN
Registrar WHOIS Server: whois.ionos.com
Registrar URL: http://www.ionos.com
Updated Date: 2019-09-26T07:33:44Z
Creation Date: 2007-09-25T17:55:29Z
Registry Expiry Date: 2020-09-25T17:55:29Z
What likely happened is their hosting agreement has expired. That could explain why the site looks down. They hosted through Ionos . Under some of their agreements if you use their tools to develop the site, the site disappears since it is owned by the hosting entity (under their license agreement)
They also still own the domain name for ecolocapsolutions.com That site is hosted on Ionio. The regsitration expires at the same time as ecolocap.
Plantonium is still owned by them (under the name of Joe Mure at his parents house) but expires on January 1, 2020. That site was developed and is hosted using godaddy.
If you google that phrase you will find hundreds of websites that are not currently active that use the same exact language and many the exact same type face.
Not sure this actually tells us whether they are launching a new web page or they didn't pay their hosting service fee.
My it would be nice to hear from management. I guess we just wait.
I as many have been hoping that something will come out of this. Even a small pittance is fine I wrote off my investment and my investment was made with play money so if it works I am fine if it doesn't it isn't chalk it up experience.
Not how corporate names work in Illinois. Has nothing to do with the filing of financials.
If you don't file your Illinois Annual Report your name goes into delinquency and then quickly moves to revoked.
if you go to the Illinois Secretary of State Cyberdrive site and click on LLC?Corp you can see who owns the name.
Piece of cake. If the name is available you can file for it by paying a small fee. Then you can transfer it anyone else for a small fee.
you are so wrong. Siegel let it go into default and he filed on the back and took over the name in Illinois. Look it up for yourself and you will see it is registered to him.
Look at the Ililnois Secretary of State site and you will see he owns Ecolocap Solutions Inc.
I am not misleading anyone. I just typed it as a shortcut.
ecolocap
Here is the link to the conference
https://www.transactionadvisors.com/conference/113076/ma-conference-university-chicago-2019
Here is the part of the agenda that covers up to his section
September 25 & 26, 2019
University of Chicago Gleacher Center (450 N. Cityfront Plaza Drive, Chicago, IL 60611)
This prestigious annual program assembles corporate development leaders, in-house M&A counsel, board members, and private equity investors to discuss innovation and best practice in M&A strategy, transaction structuring, and post-close integration.
The cross-disciplinary agenda draws on experienced M&A professionals from various industries and regions to share first-hand experiences, war stories, and recommendations for navigating deals through both internal and external challenges.
By taking part in this unique interactive conference you will gain practical information and perspective on the current challenges impacting complex transactions and learn about innovative methods to improve deal performance.
DAY ONE AGENDA: WEDNESDAY SEPTEMBER 25, 2019
12:50pm - 1:10pm
Check-in and coffee service
1:10pm - 1:15pm
Opening remarks: William Jefferson Black, Managing Director, Finance Information Group & Publisher, Transaction Advisors
1:15pm - 2:05pm
Buying growth through digital acquisitions This opening keynote session will consider the current challenges Boards of Directors face including high target valuations, a shareholder environment that rewards acquisitive companies, accumulating cash reserves, and a long-running economic expansion with an unclear outlook. The participants will then drill into the unique considerations associated with acquisitions and minority investments where the target value is largely in future growth, new technology, intellectual property including in-process R&D, intangible assets, and human capital including founders and management teams.
Don Dawson, Managing Director - North American M&A Practice Lead, Accenture
Rocky Daehler, Director, Corporate Development, Motorola Solutions
James Harris, Principal, Corporate Development Integration, Google
Andrey Galiuk, Vice President, Corporate Development and Investor Relations, Dover Corporation
2:20pm - 3:10pm
Maximizing value through M&A tax structures This session will consider tax issues in due diligence, the tax benefits of various M&A structures, and look at key tax provisions in acquisition agreements. The participants will offer perspective on recent tax developments that may impact transaction planning and explore the increasing use of tax liability insurance among other current issues.
Michael O'Connor, Managing Director, True Partners Consulting
Lee Morlock, Esq., Partner, Kirkland & Ellis
Gene McCluskey, Vice President, Tax, CF Industries
Michelle Baxter, Senior Director, Tax Planning & International Tax, Fortune Brands Home & Security
Here was the bio that was provided at the seminar
Gene McCluskey has served since April, 2012 as CF Industries (NYSE: CF) Vice President of Taxation. In this role, he leads the global tax activities, (Planning, Strategy, M&A, Compliance) for CF Industries.
Prior to joining CF Industries, he led Corporate Tax Departments of a number of Fortune 500 Corporations (Hewitt Associates, ProLogis, The Mosaic Company, IMC Global and FMC Corporation) since 1996. Prior to taking on corporate tax leadership roles, he served as a domestic an international tax planner for FMC Corporation, as well serving as a tax attorney for the Chicago based law firm of Pope, Ballard, Shepard & Fowle Ltd.
During his career, Mr. McCluskey has lectured on a number of domestic and international tax subjects for the Practicing Law Institute, The Tax Executives Institute, the Manufacturers Alliance, The National Foreign Trade Council, The National Association of Manufacturers and The American Chemistry Council, among others.
Mr.McCluskey earned his BBA in Accounting at St. Norbert College (1978), a Juris Doctor from DePaul University College of Law (1981) and an LLM in Taxation from Chicago Kent College of Law (1985).
yes they are he started doing Tax and M&A all the way back in the early 10980's He is well known in the US tax community
I know that I have my share of it
by the way you can call him and ask him. He said he is willing to talk to people.
I am posing the brochure. You will see he was speaking there. Believe what you want
You can google and find his Naples home.
He was on the 230-320 panel on tax issues and structuring in M&A. I am trying to scan the agenda and his profile and upload to the site. Need to get somewhere where I can do it
Good idea. I will suggest it next time I head that way. I might even pay for the plaque
It happens all thew time.
Here is an example you can see every time you board a plane.
There is a tag on a passenger boarding right by the control panel by the plane
The bridge could say Pneumo Abex, IC Industries, FMC Corporation or JBT Corp. They don't change the tag as each of these companies were acquired and eventually became part of JBT
Another example elevators in NYC
They could see C Lee Cook which became Dover
Otis which became United Technologies
Why spend money changing a tag when you have already own the equipment. Names like Otis and C Lee cook have value in markets so leave them on
There are numerous other examples I am happy to share
Simple answer why should LRS incur cost to change a nameplate when they are getting what they wanted a working digester
Excellent question. I had a blackened salmon. So I am on subject I didn't leave anything for the digester to consume later.
I was out to dinner. I get to eat.
Nope he said a company in the State of California Sorry forgot that the digester is on California Ave
A small diligence point.
I saw McCluskey (the lawyer who took over the ECOS name in Illinois. He was speaking at a University of Chicago M&A seminar yesterday and I dropped in during his session (seminar was quite technical and wonkish). He told me the following
- he still owns the ECOS name (just renewed it last week, as well other Illinois companies he owns for another year)
- he has not spoken to or had any contact with Siegel or the Kwak's since before he took over the name. He has had no contact ever with ECOS lawyers. He has no plans to speak to any of them
- he is talking to a California company to sell the name to them (they approached him). He wouldn't tell me who.
- He is retiring & moving to Florida (he already had a house in Naples) next year and is in the process of unwinding his Illinois connections.
- If anyone of us ECOS millionaires is interested he is still trying to sell a real estate development business and an education company
He said if any ECOS shareholders want to confirm his intentions they can google him and he is happy to confirm (either via email or phone). He actually appears not to be bad gut just a bit oppotunistic
Fair enough, but in January the stock will be at the same 52 week high, but we will personally be able to get high. the proverbial two bagger
I know was providing support for the fact LRS did actually issue a PR so the prior poster wasn't incorrect. It was before the ECOS deal so it is old news.