Walter B.
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I do know this about myself....
The HATE & RAGE within can destroy.
The HURT caused by the BETRAYAL can be so great, that it starts to effect, and destroy the very things you love....
The very people you love....
My lovely wife, Lori, does not deserve this.
My son Luke, deserves greater.
If "The System" will not act to, "Contend for the family", and hold those accountable for their actions, then it's time for me to move on.
I cannot allow that "Root of bitterness" to destroy me.
My family deserves more from me.
The foo fighters say it best......
It's times like these you learn to live again
It's times like these you give and give again
It's times like these you learn to love again
It's times like these time and time again
It's times like these you learn to live again
It's times like these you give and give again
It's times like these you learn to love again
It's times like these time and time again
What happened....?
When Rim Semiconductor Management grew increasingly quiet with regards to the launch of I.P.S.L in the spring of '08, I began to question what Raymond Franklin Willenberg Jr. was stating as factual; and, contacted employees within the company.
Simply put...
I began to trust what the Lead Engineer, and other employees within Rim Semiconductor stated as
R-E-A-L-I-T-Y
W-I-T-H-IN
T-H-E
C-O-M-P-A-N-Y
That, coupled with a HUGE DOSE of reviewing posts by the so called "Bashers" Goldrusher, Lycus of Yore, excel, WHP03, ElderWolf, Breechbreak1 and spokeshave brought me to your conclusion......
Ray is/was a liar and a con man. Which therefore meant....
My family was taken to the cleaners.
Adding insult to injury, shareholders were told by Raymond Franklin Willenberg Jr.,
"Don't listen to the bashers. They don't know what they're talking about, and they don't have all the facts."
He failed to mention the SMALL FACT, that the company had been locked out of office THREE-WEEKS-PRIOR!
Thanks "Buddy"!
And here we sit....
Nearly two years later.
What happened to all those Big Companies ready to launch Cupria?
Oh right...
I trusted a C-0-N-F-I-D-E-N-C-E M-A-N
So you see Ophelia, I was far to naive and trusting of an individual I "THOUGHT" was being straightforward and honest with me.
Again, I now interpret the word TRUST to mean
B-E-T-R-A-Y-AL
Life goes on.....
My prayer, is that those involved repent and turn from their wicked ways......
Eternity is a long long time. Again....
"What does it profit a man to gain the whole world, yet forfeit his soul."
As ever,
Gary In PB
" The character flaw is in the ones that
take advantage of trusting people. Is is a good investing skill?
Nah, but likely serves them well in a lot of other aspects of
their lives and family and friends."
So true. So true. However; Serves them well for how long?
Due to my experience with Rim Semiconductor, (More specifically: Raymond Franklin Willenberg Jr., Isaac Winehouse, John Howell, Rich Wilson, Bradley Ketch, David Wojcik & THREEDOORSDOWN), I now view "Personal Success" with a different perspective....
"What does it profit a man to gain the whole world, yet forfeit his soul."
The above mentioned individuals have gained so much. Yet lost a gift of far greater value.
May they see the error of their ways before eternity beckons.
Ophelia,
I assure you, EVERY TIME I had a concern regarding Rim Semiconductor, and MISSED TIME-LINES, (Prior to July of 2008), I'd call Raymond Franklin Willenberg Jr., someone I thought was an honest, trustworthy personal friend. Someone I thought cared for my family. (Ray - You remember your autographed Step Into Liquid poster for my son Luke? 'Life is a miracle')
And I would be remiss if I did not reflect on how many times Raymond Franklin Willenberg Jr., referred to me as "Buddy" in person, and in lengthy phone conversations. Such a friend!
Was I ever a naive! Like he ever had shareholder interest in mind.
I think he meant to say; "Life in Tucson Arizona & South Mission Beach is a miracle."
Regarding your Latin for the word - trust; I would challenge you to confront my wife, son and I on the issue of "deserves to lose their investment"
Our financial interpretation of the word - Trust, is presently....
PREDATOR
BETRAYAL
CRIMINAL
However, you are correct.....
We no longer trust folks like we use to.
And please allow me to build on your last comment:
Anyone who USES RELIGIOUS FAITH to CON shareholders who SHARE THAT SAME FAITH, might as well tie a Millstone around their neck and jump into the ocean.
Sincerely,
Gary In PB
Goldberg is concerned with one thing....
Lining his own pockets.
"The majority are people with families that are trying to make money on an investment."
Remember, it's not Goldrusher who your family is "Invested" with here. It's Michael L. Goldberg. So no matter what he posts here, ultimately, shareholder value will be determined by what Management does to raise shareholder value.
Now, ask yourself this question:
What is Michael L. Goldberg doing for shareholders, (and more importantly) - your family, to build shareholder value?
Take it from someone who trusted management for well over 10 years, Goldrusher is, believe it or not, YOUR FAMILIES FRIEND!
Why.....?
He wants one thing, to see your hard earned money stay in your families pockets. NOT MANAGEMENTS!!!
btw....
I believe you've misread Goldrusher. He's "happy" that investors have finally realized IDO Security is more concerned with selling shares, than lasting shareholder value.
Sincerely,
Gary In PB
"I wish I had the money and the nerve to buy bundles of shares at these prices, talk about being able to average down. LOL"
Ernie
--------------------------------------------------------------------
Ernie, your observations are very astute. Steve Perlman, cofounder of WebTV, felt that “looking back I think some of the investors saw us as potentially carrion ready for the taking, if we ran out of money. None of them said that, and at the time, I wasn’t thinking that, but now I’ve seen it happen.”
Mr. Perlman went on to say; “We talked to Sony and Philips about investing, but they weren’t in a position to invest. We found that nobody was willing to make that first step. In fact, I think a lot of them were sort of like vultures waiting for us to fail, and then pick up the pieces-because they saw the value of what we were doing-for a bargain.”
Jeff Brody, a VC from Brentwood Venture Capital Group, stepped up and provided that crucial round of financing. WebTV completed its tech build out and in 1997 was acquired by Microsoft (now known as MSNTV) for $500 million.
Source: Founders At Work: Stories of Startups' Early Days 2007, Jessica Livingston
Clearly, the CupriaTM tech is and will be in great demand. Also clearly, with the huge recent volume, debenture holders continue to sell and savvy investors buy as soon as discounted shares hit the market. If one believes Rim Semi will get new funding, this could be the one of the greatest tech buying opportunities ever.
D1
--------------------------------------------------------------------
Bradley, Bradley, Bradley....
That was your game, wasn't it?
Mention successful companies...
Infer a VC who can step in to "provided that crucial round of financing"...
Suggest "acquired by" with large dollar amounts....
And "Act As If" this all had something to do with Rim Semiconductor.
Yet, (in reality), you were dumping shares on the open market at a huge personal profit.
Sick, sad, and unethical.
Ernie, bless his heart, finished with "LoL"
However; by now, "If one believes Rim Semi will get new funding", they must not realize that while Ernie was, (In Jest), "Laughing Out Loud"; You, the "Savvy investor", along with David Wojcik, Isaac Winehouse, Raymond Franklin Willenberg Jr., and his "Buddy" THREEDOORSDOWN were, (In REALITY).... Laughing all the way to the bank.
Must be the "Rolling Thunder" you made reference to years ago....
Goldrusher,
All is not lost!
My son, in watching what has happened to our finances, has learned a valuable lesson, which no college tuition, education, or experience could ever match....
1.) Supposed "friends", can have an ulterior motive.
2.) Betrayal is a reality.
3.) The actions we take today, can and will effect our future.
Gary In PB
Cashnichiwa,
My belief, was that I could trust what Management was saying to me as a shareholder, on a personal level, and, in written Press Releases & President's Letters. I actually believed they had a product.
Thus...
I held over ten years.
Did red flags go up as time-lines from Press Releases, President's letters and Personal conversation with Management came and went?
Absolutely!
Yet, when I brought up those concerns - WITH MANAGEMENT, I was reassured BY MANAGEMENT that everything was going as planned.
Btw...
Another shareholder asked a few questions, and got this response from Management.
"Everything is going fine. Don't listen to the bashers. They don't know what they're talking about, and, they don't have all the facts."
What Management failed to inform this shareholder, was, that three weeks prior - The company had been locked out of office for failure to make rent for over two months.
It is now very apparent, I was wrong in my assumption that Management was being honest and forthright with shareholders.
I hope, you're not so bored with this, "Banter", that you fail to honestly evaluate your position in IDO Security. And; more importantly, the "Message" IDO Security Management is currently giving shareholders.
Why?
My preference, is that the income you worked hard for, stays in your pocket, not Managements!
Sincerely,
Gary In PB
May have a winning Product?!
No! As each day passes, it becomes clear....
Management has the same goal as Rim Semiconductor....
Sell shares - Not Product.
I find it interesting the below post was deleted by the moderators.
(Excel convinced me to save deleted posts to Rim Semiconductor facts)
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=40792554
Funny... Attempt to speak the truth, and you're deleted.
Speak lies...."Best in Class" and you live off the hard work of shareholders!
Just as this day is a reminder that there is hope, hope for a better life, hope when all you've known is betrayal, suffering, and sorrow.
Let me remind you that if you visit your Tax Consultant, he or she will help you write off ALL LOSSES related to the Scam known as Rim Semiconductor.
Oh and there is one more facet to this "Good News"!
You'll be audited this fall by the I.R.S. as to why you're taking the write-off.
Why do I refer to this as...... "Good News"
I'll finally be able to share my information regarding Rim Semiconductor which will lead to a FULL BLOWN investigation into the actions of one Raymond Franklin Willenberg Jr., Bradley Ketch, David Wojcik, Isaac Winehouse, and that "Circle of Friends"
Until then...
Sleep well everyone!
You too THREEDOORSDOWN. WINK WINK
Energy,
Unlike Mike Goldberg's supposed "Big Announcement" set for October 25, 2009; Goldrusher is telling the truth. He is in Germany. (Serious Family Health issue).
So rest assured. Goldrusher will continue to speak the truth, while shareholders of IDO Security will continue to be handed a line of ........ by Management which has one intention, and one intention only...
Selling shares.
Btw... Shareholders are still waiting that "Announcement" Mr. Goldberg. It's been 5 months...?
"Let me know when his hidey hole is ascertained"
That my friend, is easy....
Ex- IDO Security board member, Raymond Franklin Willenberg Jr., currently occupies The Merrill Lynch Building at:
7825 Fay Avenue
Suite 207
La Jolla Ca. 92037
(858) 456-5551
'paint the tape EOD.'
Oh yes, I have no doubt about it! At the End of the Day, he, Raymond Franklin Willenberg Jr., Bradley Ketch, David Wojcik, Isaac Winehouse, and countless others would "Paint the tape".
And if you think I'm incorrect Mr. Willenberg, you're more than welcome to challenge me in a court of law, ANY DAY OF THE WEEK!
(excluding weekends and holiday of course)
Gary Emerson
Avatar wasn't even a glimmer in their eye.....
New Visual Entertainment announces new trading symbol, completes audit review
LOS ANGELES--(BUSINESS WIRE)-- Oct. 15, 1996--New Visual Entertainment Inc. announced its new NASDAQ:BBS trading symbol, NVXE.
The company makes the change from SLWC on the NASD bullentin board.
New Visual also reported that BDO Siedman LLP of Los Angeles has completed a comprehensive review for the 9-month period ended July 31, 1996. The company anticipates to file reporting form 10SB and NASDAQ application prior to Oct. 31 1996. The NASDAQ smallcap listing, once approved, will allow greater access to public financial markets, as well as greater liquidity. The company is currently preparing for its year-end audit for the period ended Oct. 31, 1996.
Continuing forward with its business plan, the company furthermore reported completion of post-production of its recently shot "ON TOUR" concert series in 3-D, with bands such as Metallica, The Fugees, Sting, Lenny Kravitz and more.
The final product, which is anticipated to be available for Christmas release, will boast an impressive combination of live concert footage, as well as intense state-of-the-future CGI starring AD, a computer-generated host with attitude for the series. The 2-D version of the concert series airs weekly on PBS Saturdays at 9 p.m. through December, where viewers can get a taste of quality concert footage and get acquainted with the unusual host, AD.
New Visual Entertainment is a development-stage 3-D production company that has jointly developed a proprietary dual element single lens camera system for the creation and exhibition of holographic 3-dimensional media (H3D).
This revolutionary technology, known as the New Visual Experience (NVX), allows for cost-effective, high-quality projection of spectacular imagery into traditional multiplex theater centers, as well as New Visual's own location-based entertainment (LBE) centers.
Additionally, the company brings the New Visual Experience (NVX) into the home by utilizing a low cost viewing system that allows worldwide viewing of H3D content on any home television or computer via cable, broadcast, video or CD-ROM.
CONTACT: NEW VISUAL ENTERTAINMENT Inc. 888/639-8478
3d@siliwood.com (e-mail)
Wow! AD The host with "Attitude".
Hey! Can we "expect" to see AD in the "New Visual Experience" of future Avatar sequels?
Naaaaa... Like Carl Kruse stated to Michael Wolf: "You don't get it do you? Once we're finished here, we move on to the next game."
Siliwood Entertainment Corp.....
New Visual Entertainment Inc.....
Rim Semiconductor.....
IDO Security.....
The future is full of so many possibilities. And victims! bla bla bla...
And a mere 10 days prior, New Visual Entertainment got it's start....
For untold families that trusted Raymond Franklin Willenberg Jr., it was the beginning of financial ruin!
LOS ANGELES--(BUSINESS WIRE)--Aug. 30, 1996 -- Siliwood Entertainment Corp. (NASDAQ/BBS:SLWC) has elected to change its name from Siliwood to New Visual Entertainment Inc.
``The former name, Siliwood, was originally inspired by the convergence of the technology associated with Silicon Valley and the content industry of Hollywood, but has consistently presented a barrier to understanding the business of the company, which is holographic, three-dimensional entertainment for theater venue and in-home mass markets,'' said Phil Kueber, chief executive officer of the former Siliwood.
The company recently acquired New Visual Entertainment as a wholly owned subsidiary and has decided that the perception associated with the ``New Visual'' name provides a more accurate and more easily definable understanding of the business of the company.
``What we have found, particularly with the investment community, is that after much explanation about the origin and intent behind the name, most people appreciate it. In the long run, however, the time that it takes to explain the name and the connection between the name and our business, people typically do not have,'' added Kueber.
``Since what we are about to introduce is a `new visual experience' (NVX) it seems fitting to go with New Visual Entertainment,'' he concluded.
The publicly held company will continue to be traded on the NASDAQ/BBS under the Siliwood symbol SLWC. The company expects, however, to apply for a new symbol to reflect the new name.
New Visual Entertainment is a development-stage 3-D production company that has developed a proprietary dual-element, single-lens camera system for the creation and exhibition of holographic 3-D media. This new visual technology allows 3-D content to be affordably produced and transmitted to mass in-home and commercial viewers, as well as location-based entertainment (LBE) theaters.
CONTACT: Langley Financial Group Inc., 310/659-8893
langleyfin@aol.com
http://www.langleyfinancial.com
or
New Visual Entertainment, 3d@siliwood.com
'Yet, Ray over ten years ago was telling share holders he had deals with all kinds of content providers.'
Thirteen years, three months, and 28 days to be exact.
LOS ANGELES - (BUSINESS WIRE) - Sept. 9, 1996 - At the close of a successful 3-D production effort, New Visual Entertainment Inc. (NASDAQ/BBS:SLWC) Monday announced that it anticipates having roughly 17 episodes on video of the summer's hottest performances.
Working in conjunction with AT&T's "On Tour" concert series, the company has captured approximately 50 major recording artists, including Blues Traveler, Devo, Lenny Kravitz and Sting, at an average estimated worth per episode of approximately $300,000.
The company has formulated the estimate based on typical production costs, which range from $250,000 to $350,000 per production, depending upon the location and nature of the shoot. The company reports, however, that as a result of the collaborative production with Sunshine TV, actual costs per episode have been minimized to $70,000 each.
The company maintains that the estimated worth is considered to be conservative, given that the retail value is yet unidentified.
New Visual began the project back in June on its way to developing a substantial library of 3-D content, and plans to continue an aggressive production effort in the months to follow. The company expects the completed episodes to be available to the consumer by year's end and plans to utilize a variety of distribution channels to reach customers.
New Visual Entertainment is a development-stage, 3-D production company that has jointly developed a proprietary dual-element, single-lens camera system for the creation and exhibition of holographic 3-D media. This new visual technology allows 3-D content to be affordably produced and transmitted to mass in-home and commercial viewers, as well as location-based entertainment (LBE) theaters.
CONTACT: Langley Financial Group Inc.
310/659-8893
Langleyfin@aol.com
http://www.langleyfinancial.com
or
New Visual Entertainment Inc.
3d@siliwood.com
Original President's Letter written by Brad Ketch April 4, 2008:
Dear Fellow Shareholders,
Cupria™ is being very well received! There are many customer engagements that I could tell you about, but I will mention one from this week. We traveled to the headquarters of a telephone company that is also in the capital of the country that the telco serves. The meeting was attended by very senior-level executives from several departments, which is always a good sign of real interest. We believe that they will be upgrading two to three million subscribers every year to IPTV, which represents a potential revenue opportunity to Rim Semi of tens of millions of dollars every year. We showed them Cupria™ and compared its performance to their existing DSL technology. Cupria™ performed flawlessly, and delivered data at 42 mbs across 5,500 feet. The telco executives confirmed that the best they can achieve with ADSL2+ is 15 mbps across 5,500 feet. They cannot even get VDSL2 to work -at all- at 5,500 feet! So we demonstrated to their satisfaction that we are about three times better than the best that they currently have. The meeting concluded with a request to go immediately to field trial and talk about volume purchases.
A reception like the one that we received this week demonstrates that we have delivered to the world's telcos a solution that solves a critical problem. And it is a solution that they are willing to pay for. Our team here is completely focused on delighting this customer and many others by shipping products this year that dramatically exceeds the competition.
Sincerely,
Brad Ketch
President and CEO
Rim Semiconductor Company
Goldie....
Is it any wonder Brad Ketch has gone into hiding?
Securities & Exchange Commission...
(Yes Mr. Novakovic this question is directed at you)
Do you think the CEO of a company should be held accountable for spreading false information to shareholders?
Posted by: GaryInPB Date: Monday, January 04, 2010 1:23:19 PM
In reply to: A deleted message Post # of 12835 [Send a link via email] [Share on Facebook] [Tweet this post]
Excel,
Let's be more specific.....
Raymond Franklin Willenberg Jr., was here long before Michael Goldberg, Acting CEO of IDO Security, gave this glowing release on July 3, 2009...
"Mr. Willenberg is a great addition to our board. His vast experience in finance and manufacturing will be extremely useful in helping IDO Security continue to grow and expand."
Now that he's, "decided not to run for a BOD seat in 2010 and is no longer a member of the BOD", the question remains......
What "Exactly" is Raymond Franklin Willenberg Jr., doing at:
The Merrill Lynch Building
7825 Fay Avenue
Suite 207
La Jolla Ca. 92037
(858) 456-5551
That lease can't be cheap.
As a shareholder, I'll do everything possible to make sure my investment dollars are hard at work.
I would expect nothing less from Mr. Raymond Franklin Willenberg Jr.
If he doubts my resolution, and believes that I have somehow "misrepresented" the truth, he is more than welcome to challenge me in a court of law at any time.
With complete resolve!
Gary Emerson
Excel,
Let's be more specific.....
Raymond Franklin Willenberg Jr., was here long before Michael Goldberg, Acting CEO of IDO Security, gave this glowing release on July 3, 2009...
"Mr. Willenberg is a great addition to our board. His vast experience in finance and manufacturing will be extremely useful in helping IDO Security continue to grow and expand."
Now that he's, "decided not to run for a BOD seat in 2010 and is no longer a member of the BOD", the question remains......
What "Exactly" is Raymond Franklin Willenberg Jr., doing at:
The Merrill Lynch Building
7825 Fay Avenue
Suite 207
La Jolla Ca. 92037
(858) 456-5551
That lease can't be cheap.
As a shareholder, I'll do everything possible to make sure my investment dollars are hard at work.
I would expect nothing less from Mr. Raymond Franklin Willenberg Jr.
If he doubts my resolution, and believes that I have somehow "misrepresented" the truth, he is more than welcome to challenge me in a court of law at any time.
With complete resolve!
Gary Emerson
For the good of the investment community...
The Truth has had an impact. THANK GOD!!!
But the offshore arrangement is completely......
"Confidential"
Pretty sweat Rob!
I take that to mean Laura doesn't know a thing. How about Kathryn?
Btw,
You're not the only "Individual" who can "Glad Hand" trusting shareholders.
I found that out the hard way this morning.
Very disappointing......
Danno,
"President Obama" Says No More Taking Off Your shoes.
"Homeland Security"
Management is using the same "Catch-phrases" here; that they used to peddle RSMI.
Months ago I posted hundreds of links to P.R.'s regarding RSMI that - NEVER - came to fruition.
Yet to this day, Raymond Franklin Willenberg Jr., claims "Everything is fine. Don't listen to the bashers. They don't know what they're talking about and they don't have all the facts."
Fact is; He ran RSMI into the ground. Shareholders lost their a$$'s. But somehow; he and other "Insiders" are currently living the rich life.
Wake up!
You're being sold a bill of goods.
With all respect, investors thought Raymond Franklin Willenberg's other "Venture" with zeh Germans would be fruitful.......
http://community.investopedia.com/news/BusinessWire/20080514/6133191064114094.aspx
Yet that "Joint Venture" has gone absolutely NOWHERE, and his other "Venture" sits at .0001
Btw.....
I've had multiple emails with the Director of the Teleconnect.
He wasn't impressed with Mr. Willenberg's "Business Model".
And I'm more than willing to challenge Mr. Willenberg in a court of law if he somehow disagrees with me on the matter.
Bottom line: Be careful with whom you entrust your hard earned dollar.
aaaahhh.. Not so fast.
The Lead Engineer told me that order was for one thing...
Dave Wojcik's Bonus.
I stand ready for anyone to challenge me in Court regarding that Million Dollar order.
Gary Emerson
Speaking of Goldy and his source...
Rather than sarcasm, I'll give you facts:
1.) The LEAD Engineer of Rim Semiconductor stated:
a. "Cupria has Major Issues and WILL NOT WORK IN THE FIELD"
b. "Management of Rim Semiconductor has no ethics."
c. "Press Releases were for one thing... Bonuses!"
I will back these statements up financially...
I stand ready for you, or any person associated with Rim Semiconductor to challenge me, in a court of law, regarding the validity of the above statements.
Sincerely,
Gary Emerson
San Diego, Ca. 92109
P.S. Releasing my home address is violation of TOS. However; Raymond Franklin Willenberg Jr., knows where to find me.
Stay Away, unless you want to become very poor! This company is a joke! I got in many years ago when all the hype was on big time and the price was at around 12 bucks, well now look. They have not kept one timeline. STAY AWAY, YOU HAVE BEEN WARNED!
Circa February 2003
Where was this guy when I needed him?
Oh.. that's right. I had THREEDOORSDOWN in my corner!
Or was that my pocket?
Thanks "Buddy"
Sleep well. You've worked hard to earn every penny.
Wink Wink
Let me explain something to you guys about the basher mentality.
blah blah blah...
The point is that many of you bashers here CONSTANTLY bash NVEI, post incessantly about their failures and never focus even the tiniest bit on the tech's potential, paste carefully selected info from the filings and very intentionally mislead the general public or the more casual newbie who is just investigating the stock. Your usual laughable defense is that you are trying to save the newbies and you are not forcing anyone and bashing makes no difference anyway. Anyone with a conscience should know better (in their heart) that bashing with an evil intent is just plain wrong. So before you go and completely disregard and bash NVEI's potential, think twice about what you're doing could potentially hurt other investors. Put personal ethics before greed. Simply being foolishly pessimistic because it fits your agenda and you just want to bash the stock makes you a bad person IMO. Be objective in your DD, it will give you better leverage for the future.
Buy_Low
I would venture to say that buy_low has changed his "opinion" about "BASHERS"
Hard to believe this "New Promise" was made over 6 years ago.
I often wonder just how many families were financially impacted by the trust they gave to Rim Semiconductor Management.
I gotta admit, they always gave "The Appearance" that Rim Semiconductor would become a....
"Truly great semiconductor company."
It's insulting, (And Criminal), that after all the trust and faith shareholders placed in him, Brad Ketch just disappeared.......
NEW VISUAL TECHNOLOGY INFORMATION *Updated 1/05/03
_____________________________________________________________________
New Visual Technology is developing semiconductor technology that allows data to be transmitted at greater speeds over longer distances using regular copper telephone wire. This technology dramatically increases
the capacity of the existing telephone network, allowing
telecommunications carriers around the globe to provide enhanced voice, data, and video services over today's copper infrastructure. With this strategy, carriers can reduce or eliminate the need to install fiber optic technology, reduce operating costs, and increase revenue per line.
New Visual will market its products to leading global telecom equipment makers and service providers, helping them fill the gap between T1 and fiber for both business and consumer users.
The great, unfinished task of the telecom industry is to fill the "last mile" gap that prevents businesses and consumers from enjoying the benefit of the global, high-speed data backbone. The gap occurs where the low-speed capacity of local loop telephone networks meets the demand
for high-speed services. Ninety-three percent of business buildings, for example, are unable to get high-speed data services because the facilities that underlay them are copper wires. Filling the "last mile" gap with fiber is prohibitively expensive, so New Visual has developed a new silicon-based strategy, best described as "Fiber Avoidance" - if a wireline carrier can avoid deploying fiber optics in delivering fiber-like services, that carrier can increase its return on assets in a dramatic way. The value proposition of New Visual can best be summarized as a solution that allows service providers to
send digital information farther and faster, utilizing a low-cost implementation/deployment strategy that leverages the existing copper infrastructure.
New Visual's products are optimally positioned to address critical gaps in the access portion of the network at attractive prices for telecom companies anxious to save money and increase profits. By utilizing the existing copper wire infrastructure, New Visual enables telecom
companies to sell high-margin services and deliver bandwidth-hungry multimedia applications, such as video, voice, and data, which otherwise would be unavailable without extraordinary capital outlays.
New Visual is developing layer-one, IC-based solutions that address the specific needs of both business class and residential markets. These large initial markets include (1) the small- to mid-sized enterprise (SME) market, (2) the MTU/MDU multi-tenant services market, and (3) the
Remote Terminal/Feeder market.
New Visual's "Fiber Avoidance" Strategy
Wireline carriers around the world are experiencing high demand for data-intensive transmission services from enterprises. These services such as T1, Frame Relay, ATM Managed Services, Gigabit Ethernet, and other private line services, are delivered across T1, E1, T1 IMA, N X T1, DS3, E3 and other transmission protocols. While T1 and E1 can be used to reach the buildings that are off the fiber ring, these protocols are limited by copper pair's low speed, high costs, maintenance costs, and poor utilization.
Much has been made in recent years about the benefits of trenching fiber to every building, but the reality is that it is financially feasible for only the largest buildings. Telcos find that it is extremely expensive and impractical to replace the existing copper wire infrastructure with fiber optic technology to 90% of the offices. New fiber costs $500-$1000 per foot to install, and municipalities have begun prohibiting new trenching, making it impossible to start new upgrade projects. Other solutions to enable broadband communications, such as wireless, satellite, and cable modem network technologies, often suffer from poor performance, high deployment costs, and lack of mass
marketability. Most importantly, these technologies fail to allow the telcos to leverage their existing investment in the copper plant.
New Visual's integrated IC's increase the capacity and range of high-speed services on the existing copper network, enabling telephone network operators to increase their offering of services and reduce the cost of network upgrades. Worldwide, this network contains over 950
million copper lines, and currently delivers most of the world's telephone traffic and broadband access. Service providers can leverage this huge existing infrastructure, avoiding the high costs and slow deployments associated with replacing the local loop with fiber.
New Visual Corporation, an emerging provider of semiconductors to the high-speed data networking industry, announced that the company has released a prototype of its first semiconductor product offering. Code-named "Embarq ," the company s processor will allow telephone companies to transmit data at speeds of up to 90 Mbps across a single pair of copper wires. Two of the company s target customers in the access equipment industry will now begin evaluating the prototype. Embarq is the first product in a family of transport processors to be developed by New Visual. Transport processors, combined with network processors, form the engine for next-generation high-speed line cards. These line cards are placed in edge access devices like DSLAMs, digital loop carriers, and other access concentrators.
Embarq transmits data across a single copper pair in a single direction as fast as 90 Mbps at a distance of 1,500 feet. This is its asymmetrical mode, where more data is transmitted downstream than is transmitted upstream. Most data services offered by telephone companies to residential subscribers are asymmetrical. Embarq also transmits in a symmetrical mode, where an equal amount of data is transmitted downstream as upstream, at top speeds of 45 Mbps at 1,500 feet. Most data services offered by telephone companies to business subscribers are symmetrical.
Embarq will be deployed in the telephony outside plant across real-world copper drops, where long loop lengths lower this maximum data speed. Performance of the Embarq processor is as follows (all figures are on 24 AWG wire at 10-9 bit error rate):
Distance in feet / Asymmetric / Symmetric
1,500 / 90 Mbps / 45 Mbps
3,000 / 80 Mbps / 40 Mbps
4,500 / 46 Mbps / 23 Mbps
5,500 / 30 Mbps / 15 Mbps
6,500 / 16 Mbps / 8 Mbps
Additionally, the company plans to exploit unique features of Embarq technology, such as low latency, small frame size, and receiver intelligence, to develop products that allow for the placement of multiple repeaters, thus extending the reach even farther.
New Visual s target customers are the makers of the system equipment that wireline carriers purchase and deploy in their networks. The Company released the Embarq prototype to two equipment manufacturers for evaluation. One of the manufacturers is a world leader in its category, and the other is a next-generation start-up.
These two companies have received the prototype, which is in the current form of patent-pending software and test equipment, and have begun evaluating Embarq for use in their products. More than ninety percent of the technical attributes of the semiconductor is contained in this prototype form.
"Today is a milestone for New Visual and its customers," stated Brad Ketch, New Visual s President and CEO. "We have delivered on our promise. The Embarq transport processor enables faster transmission and greater range than any commercially available semiconductor, and offers an opportunity for telephone companies around the world to reduce their capital expenditures while meeting the growing demand for high-speed data. Now, as we go to market, which is enormous and growing, we make a new promise. We will build a truly great semiconductor company."
Source: http://www.newvisual.com
______________________________
aaah yes, the future of digital film making....
SAN DIEGO--(BUSINESS WIRE)--March 3, 2003--NV Entertainment, a wholly owned subsidiary of New Visual Corporation (OTCBB:NVEI) and Top Secret Productions, LLC, announced today the completion of a digital content license agreement with Microsoft Corporation for a promotional clip of Step Into Liquid, a surfing adventure film produced by Top Secret Productions.
The non-exclusive, worldwide license was granted to Microsoft in exchange for $70,000 in cash and authorizes use of the 7 1/2 minute clip for the distribution of up to 6 million Microsoft DVD samplers targeted for release this summer. In an effort to demonstrate the advanced player features of Windows Media 9(TM), Microsoft has selected multiple high quality clips from a wide range of films, including Step Into Liquid.
"This is exciting for us for a number of reasons. First and foremost, we are pleased to continue a rewarding partnership with Microsoft and want to thank them for recognizing our film as a signature piece in the future of digital film making," notes Ray Willenberg, Chairman of New Visual and executive producer of the film.
Mastered in the new High Definition format, Step Into Liquid is optimally suited for Microsoft's media player initiatives in the new era of digital filmmaking. "Also, the exposure associated with reaching 5 to 6 million consumers with a teaser of the film at a time when we are beginning to promote it, is incredibly valuable," concludes Willenberg.
The deal comes as Top Secret Productions begins to market the acclaimed motion picture, which has recently been favorably reviewed in Variety and Surfing Magazine.
About Step Into Liquid
Step Into Liquid is a Dana Brown film that tells tales from twenty different locations. It features surfing legends like Laird Hamilton and Dave Kalama surfing at Jaws, an aerial spectacle from Taj Burrow in Australia, the Malloy brothers in Ireland, Peter Mel, "Skindog" Collins and crew surfing Monster Mavericks, super tanker wake surfing in Texas, Rapa Nui's first-ever tow-in, long-boarding on Lake Michigan, and a highly anticipated footage of Cortez Banks and its sixty-foot plus waves. For more information: www.steptintoliquid.com.
About NV Entertainment
Based in San Diego, NV Entertainment, Inc. is a subsidiary of New Visual Corporation, a late-development-stage fabless communications semiconductor company. For more information, visit www.newvisual.com. The company owns 50 percent of Top Secret Productions, LLC, the maker of Step Into Liquid.
With the exception of historical information contained in this press release, this press release includes forward-looking statements made under the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements, including but not limited to the following: product development difficulties; market demand and acceptance of its products; the impact of changing economic conditions; business conditions in the Internet and telecommunications industries; reliance on third parties, including potential suppliers, licensors and licensees; the impact of competitors and their products; risks concerning future technology; risks associated with the film release of Step into Liquid, including the film's distribution; and other factors detailed in this press release and in the Company's Securities and Exchange Commission filings.
CONTACT:
New Visual Corporation
C. Rich Wilson, 619/692-0333
info@newvisual.com
Oh but Goldrusher, you fail to remember that Raymond Franklin Willenberg Jr., currently occupies The Merrill Lynch Building at:
7825 Fay Avenue
Suite 207
La Jolla Ca. 92037
So clearly......
Rim Semiconductor must still be legit!
I mean come on!
The Merrill Lynch Building in La Jolla!
That lease can't be cheap!!! Shareholder Value hard at work!!!
Heck! Charles Schwab is right across the street!
Rim Semiconductor isn't just giving "The appearance of success".
They're rubbing elbows with the large Investment Teams in the World!!
You may want to consider believing in the tooth fairy.
It beats a sharp stick in the eye.
But you're correct...
The last few posts reflect a company that Brad Ketch claimed had Market demand
which remains strong and is growing.
Yet....
We is Rim Semiconductor has been silent in the Market for well over a year....?
Where's that strength?
Where's that growth?
And where....
Is Brad Ketch?
Oh that's right!
He'll be bringing David Wojcik back into the company soon.....
Do you think it's possible that David Wojcik IS the tooth fairy?
And Phylogy thought they hired a mere mortal......
Why any day now Rim Semiconductor will show the World their "Best In Class" Technology!
Soon... Soon.... Soon...
Not to mention the hints that "Copper, is it"...
An Open Letter to New Visual Shareholders on the Recent FCC Ruling
There's only one path to innovation in the U.S. local loop, and it goes straight through the incumbent local exchange carriers (ILECs). On February 20, 2003, the United States Federal Communications Commission (FCC) "clarified" the 1996 Telecom Act, an event that has caused some investors to wonder whether New Visual's innovations will be helped or hurt. Though we cannot predict the future, we can comment on a few of the likely implications for our technology business. In short, we do not see much of an impact.
Up front, we'll offer apologies to our international investors who will see this letter as hopelessly US-centric. Please understand that while this ruling affects only 10% of the world's loops, most of New Visual's investors are US-based, and are served by ILECs. We do not believe that other PTT's will follow suit with the FCC's decision.
Let's begin with a short recap of what happened. The FCC, in a 4-3 vote, adopted rules concerning the ILEC's obligations to make elements of their networks available on an unbundled basis to their competitors. Prior to the ruling, a CLEC could lease some or all of the network elements that it needs in order to sell a broadband service to a customer. Now, this CLEC is limited to leasing only those network elements that are "unbundled" by being served on copper loops that are not backed up by fiber facilities. The following illustration summarizes the changes:
On the surface, it looks like CLECs (like AT&T, MCI and Covad) continue to have physical access to 99% of the currently installed loops, thus they would have little cause for complaint. But a closer look at the ruling shows that they would probably have cause for alarm. Today, CLECs lease an unbundled line and transmit broadband data over just a portion of the available spectrum. They can transmit voice over the narrowband portion of the spectrum or they can leave it to the ILECs to transmit. This is referred to as line-sharing. The FCC no longer permits line sharing. So that will leave CLECs with an inability to offer cafeteria-style services as they do today. After these rules phase in, CLECs will be compelled to offer both data and voice services to a given customer. If a CLEC wishes to offer data-only service, it will have to run its own copper or fiber loops. So, our belief is that CLECs will virtually abandon DSL, leaving DSL to the ILECs.
For the ILEC's part, they have won a clear path to providing DSL and business services to residences and to businesses. The drawing above would indicate that since FTTH and FTTC architectures cannot be unbundled, the ILECs now have a regulatory stimulus to begin trenching fiber. Investors in New Visual know that if FTTH became the de facto method for serving broadband lines, our copper-focused semiconductor would not sell in large quantities. We believe that FTTH will not become common in the US for these reasons:
A closer look at the economics of FTTH reveals that the ILECs cannot make money on FTTH, with or without regulatory relief. As evidence, reports show that about 72,000 residences in the US have FTTH, and almost none of them are provided by the ILECs. They are provided by non-profit municipalities.
Even if the ILECs solve the problems that are associated with the high cost of trenching and lighting fiber, our belief is that they still will not run FTTH. This Ruling will be challenged in court and Congress for years. Until the ILECs are sure that they will win all challenges and never be forced to unbundle their FTTH, they will not lay it.
So, copper it is. DSL and business services will continue to grow because demand remains high. Further, these services will become the source of profits that the ILECs will need as they continue to lose wireline voice revenues to the CLECs and cable companies. Copper will remain the primary physical vehicle for DSL services, and it will remain severely constrained by distance and attenuation. ILECs will continue to actively look for vendors such as New Visual who can reduce their expenses and raise revenues. And for our part, we will continue to offer a compelling technology to accomplish just that.
As always, we welcome your comments and requests for clarification in this complex and constantly changing regulatory environment.
Did we ever get the straight scoop?
"First income"
"Pay us dividends"
Who is us?!
Clearly not the common shareholders!
And just exactly how many Engineer's did the company employee back in 2003?
Straight scoop?
Hardly.
"News Blackout"
Criminal!
President's Letter, First Quarter 2003
To the shareholders of New Visual Corporation:
I would like to report to you on several new developments at New Visual covering our technology, the film, and general business.
Status of Embarq:
Development on Embarq continues to move in a positive direction. We are debugging and optimizing the code that embodies the technology, and we intend to continue this process for several more weeks. This is time-consuming work that can fail to generate any headlines for you, our shareholder. Compound the technical nature of our development with the fact that we are not going to disclose to our competitors any development that they could use against us, and you've got a "news blackout" situation. It is difficult and frustrating for shareholders to be in this situation, but it is unavoidable.
Some of you write or call with very specific questions about Embarq. We of course understand your curiosity, and I truly wish that I could be clearer about the day-to-day developments with the technology and customers, but following my recent meeting with a large telco it is my opinion that our competitors are learning too much based on information that we have told you in the past. We will certainly keep you posted as material events take place.
So what can we say? We will reiterate to you that the technology works, that it is superior to current technologies, that we are moving forward, and that we are incorporating feedback from target customers into our design. Market demand remains strong and is growing. We are excited about our position in the current marketplace.
Regarding the ongoing testing of our prototypal technology with two different companies, we will issues updates as developments occur. We jointly believe it is in our best interests to maintain strict confidentially about Embarq. The testing and our relationships are strategically important to NVEI's future and we will do our utmost not to jeopardize them. I will say this is one of the most exciting aspects of being involved with New Visual.
Status of "Step Into Liquid":
The film has posted its first income with the licensing of footage to Microsoft. The success of the Santa Barbara Maritime Museum showing continues to pay us dividends. On Monday of last week, Variety Magazine gave "Liquid" a glowing review calling it "Endless Summer's Stunner". We have received hundreds of calls and emails expressing interest, ranging from, "can we distribute it worldwide?" to "what day is HBO going to show it in my town?" We have been, and remain now, in negotiations with multiple international distributors. Our attorneys and agents are reviewing offers, and we are optimistic that we will successfully close a deal that is in your best interests.
General Business:
Regarding financing, a consortium of banks has approached us to loan a significant amount of cash at very favorable terms. The Board of Directors has authorized the company to enter into the transaction and we will keep you posted as matters develop.
We are also hopeful that a future deal for distributing our film could cover most of our cash needs. We expect that these film revenues will, over time, cover our cash requirements or otherwise add to the bottom line as the film is sold in various markets, including theatrical, home video/DVD, foreign, cable and television.
Other financing arrangements are being discussed and we feel confident that we will have the funds necessary to implement our plans.
We would also like to assure shareholders that a question we have received concerning a reverse split is unfounded. The company has no plans to enact any such measure.
One additional initiative that you may be interested in is the BBX exchange. As you may be aware, NASDAQ is planning to launch a new market called the BBX. This exchange will have listing standards, an electronic trading system, and enhanced marketplace rules that will mean better companies, better information, better transparency, and better execution quality in this segment of the market. Pending SEC approval, the BBX will launch in the 4th Quarter of 2003. Additional information regarding the BBX is available on www.bbxchange.com. We look to the BBX as the stepping-stone to NVEI's future application to the NASDAQ.
I want to wrap up this letter by expressing to you my optimism in the future of New Visual. I took this job because I believe that Embarq will be a major new transport processor that will build tremendous value for you, our shareholders. My interests, and the interests of every Director, Executive and Officer, are aligned with our shareholders. Literally. The only way that we make is if you make it. We want to - need to - see NVEI rise. And we will do it.
We will stay the course until we win. And I ask you to do the same. Thank you for your support. And as always, please feel free to contact me with your comments or for further clarification.
Sincerely,
/s/Brad Ketch
Brad Ketch
President and Chief Executive Officer
A Personal Dispatch from SuperComm
To the Shareholders of New Visual
I would like to talk to you today in a way that I have never done
before. This is a personal note to you on the week that I spent at
SUPERCOMM, which is the Super Bowl of the telecommunications industry.
For 16 years, SUPERCOMM has been the single most important industry
event that lets you see what is - and what will be. It is the premier
annual communications and information technology exhibition and
conference. It's like Comdex, for those of you in the computer industry,
only larger.
Tens of thousands of communications leaders from around the world
attended SUPERCOMM 2003 because they know it is the efficient way to
gain insight and information on critical issues that will impact them
for years to come. Some companies put up elaborate booths and
Vegas-style musical presentations, and others slap a poster behind a
table, and man it with a tired salesperson. The best conversations go
down at invitation-only receptions, private meeting rooms and
out-of-the-way hotel suites.
Like most industries, business transactions flow along business
relationships. I have been building relationships for almost twenty
years in this business, and it's great to see that as I have risen in
the ranks, so have my friends. There is a trust there that says, "when
we were struggling together, I trusted you then. Now you're the
President, and I trust you now." My personal database of contacts in
this industry has over 2,300 names, titles and phone numbers - many of
them home numbers. In the rare, unscheduled moments this week I could
literally stand in the intersection of two rows of booths, and every
three or four minutes an old friend would walk up. Besides the delight
in reconnecting, all of us shareholders are delighted when he turns out
to be the new SVP of Global Sales for one of our target customers.
There is no doubt that telecom is coming back. I saw many more telco
personnel than in the last two years, and these are the folks who
ultimately pump fresh dollars into the vendor community. There were far
more Asians than before, reflecting the overwhelming amount of spending
on chips and network elements in that part of the world. Some of the
vendors are posting truly remarkable upticks in revenues and profits,
all signs of new confidence and optimism. This bodes well for New
Visual. Our semiconductor will be launched into this new era of profits,
and profits mean a new era of risk-taking and trying out new ideas.
We've got the hottest new idea out there, and buyers are newly
receptive.
The reception that folks gave me was remarkable. Our supply chain looks
like this:
(insert graphic here)
Now, the specific companies in that chart are not necessarily those with
whom we are in discussions - though some of them are - but are instead
indicative of how this industry is wired together. I was looking for
weakness in this chain, in other words, which link is weak enough that
it could stop us from selling lots of product? Well, I didn't find the
weakness, because there doesn't appear to be any. One of the systems
manufacturers said, "we're definitely looking for the next big chip, and
we hadn't seen it here until we talked to you."
There are lots of reasons why we are getting a high level of interest,
and one of the most important is the collapse of the international
standards. VDSL was supposed to be the next low-cost, standardized,
high-volume way that telcos would drive video on copper lines. Well, the
standards bodies are struggling to remain relevant, and there is a new
openness to innovative, non-standard technologies like ours.
Now that the industry consolidation has sort of run its course, these
manufacturers and service providers are desperate to differentiate
themselves from one another. In other words, cut out from the pack and
offer a service to businesses and homes that is truly different - either
cheaper, or faster, or better, or hopefully, all three. Because we have
developed a highly differentiated product, people are eating it up. "So,
Brad, when are you going to bring your guys around to show us the chip?"
demanded one Chief Technology Officer of a telephone company.
One lunch appointment really sums up how people are feeling about us. I
arranged to meet for lunch with the Director DSL Services for one of the
US's largest telcos, and also with the VP Engineering of one of this
telco's suppliers (who will hopefully be one of our customers). This
Director is doing the long-range planning for his company's entry into
video. "Oh yeah, we definitely want to get more into video," he said,
"because we've got to compete with the cable companies." He turned to
the equipment manufacturer VP, and said, "you guys could do it for us.
So when are you gonna put video capabilities into your box?" The VP
said, "Well, that's really up to Brad. The chip guys have to come
through." I said, "I'm building it as fast as I can. You're going to
love it when we're done." The telco guy then turned to the equipment guy
and said, "get it on with NVC. Now that I know it's coming, we'll be
looking for it on your gear." The equipment guy concluded the
conversation with, "yeah, we're all over it. Can't wait for that FPGA,
Brad!"
By the way, the only negative comments the whole week surrounded our
name. People just do not get the name "New Visual". The Marketing
Director of a software company said, "OK, so you're going to do just
video, right? No? Then why have you put yourself in the 'video' box?
You've got to get out of it, Brad!" He is so right. "New Visual" will be
limiting. And also, it doesn't sound like a chip company. I think that
we will have to consider adopting a new name in the future. And we need
a name with "Semiconductor" in it so that people know what it is that we
do!
So, what about the competition? Nothing exciting to report. "Here I am,
coming to SUPERCOMM for the third year in a row with the exact same
chip," lamented the head of sales for one of our competitors (and a
personal friend). It's more of the same from the established players.
And the new entrants, like us, either have folded (Voyan), or came out
with "me-too" products (You Know Who You Are). I found one new start-up
that I had not heard of before, and they are pursuing a method of
putting high-speed signals on copper that I am convinced is a dead-end
street. So, if there's strong customer openness, and weak competition,
then what is standing in our way?
You knew that I would come to finances eventually. About half of my time
at the show was spent with money guys. I opened up a new dialog with a
major European equipment manufacturer (their new head is a former
customer of mine), and with an Indian investment firm. I am still
confident that one of these deals, or the other deals that we are
pursuing, will close. My confidence comes from statements like that made
by an Asian equipment manufacturer. "What you guys are doing is so
important. Don't lose faith, don't lose focus. Don't give it away to the
first guy that comes in with ten million dollars unless he gives you
want you want." Shareholders, I'm not going to.
This is a long dispatch, and I want to sum it up for you. The industry
is growing again, companies are ready to take a risk again, we have a
highly differentiated and sought-after product, the competition isn't
showing up, and we are close to getting the cash that we need to make it
all a reality. I am more excited than ever before, and I am glad that
you, my shareholder, are on the journey with me.
Warm regards,
Brad Ketch
President and CEO
_______________
"As I reported to you with the Dispatch from Supercomm, and now reiterate, we are not aware of a semiconductor on the market today anywhere in the world that performs to the level of speed and distance that Embarq performs to in its prototype form. And, we know of no technical reason why the final form of Embarq will not equal the speeds and distances achieved in prototype form."
Bradley Ketch
Isn't compensation a wonderful thing.....
Help me out. What was it they produced?
Oh silly me. That's right.
It's ....
TOP SECRET.
SUMMARY COMPENSATION TABLE
RESTRICTED SECURITIES
OTHER ANNUAL STOCK UNDERLYING
NAME AND PRINCIPAL POSITION(S) YEAR SALARY COMPENSATION AWARD(S) OPTIONS
------------------------------ ---- ------ ------------ -------- -------
Thomas J. Cooper 2002 $ 129,500(2) $ -- -- 2,000,000(3)
Chief Executive Officer(1) 2001 -- -- -- --
2000 -- -- -- --
Ray Willenberg, Jr. 2002 258,406(5) -- -- 350,000
Chairman of the Board, Chief 2001 229,167 -- -- 20,000
Executive Officer, President and 2000 190,417 112,500(6) -- 750,000
Executive Vice President (4)
C. Rich Wilson III 2002 166,329(7) 91,875(8) -- 600,000
Vice President and Secretary 2001 149,580 -- -- 20,000
2000 62,500 -- -- 125,000
Thomas J. Sweeney 2002 133,455(9) -- -- --
Chief Financial Officer 2001 82,294 -- -- --
2000 -- -- -- --
John Howell 2002 96,250(10) 264,763(11) 500,000(12) --
Executive Vice President 2001 15,000 -- -- 20,000
2000 5,000 -- -- 210,000(13)
Robert Cono had about as much expertise in "Movie Consulting", as I did with "the risks commonly associated with investments in penny stocks"
NOT A BAD DAY JOB!!
PROMISSORY NOTE
$514,520.55 October 31, 2002
San Diego, California
For value received, NEW VISUAL CORPORATION, a Utah corporation ("MAKER"), hereby unconditionally promises to pay to the order of Charles R Cono Trust, Charles R. Cono, TTEE ("PAYEE"), as described in Paragraph 1 below, the principal sum of FIVE HUNDRED Fourteen THOUSAND Five Hundred Twenty AND 55/100 DOLLARS ($514,520.55), plus accrued interest on the principal hereof outstanding from time to time, pursuant to the terms and conditions of this Amended and Restated Promissory Note (this "NOTE").
This Note amends, restates and replaces in all respects that certain promissory note in the principal amount of $500,000 dated July 17, 2002 between Maker and Payee (the "OLD NOTE") including, without limitation, all of Maker's obligations under the Old Note.
1. PRINCIPAL AND INTEREST. Maker promises to pay: (a) the principal amount of this Note and (b) interest on the principal amount at the rate of the lesser of: (i) the maximum amount permitted by law, and (ii) ten percent (10%) per annum, compounded annually, based on a three hundred sixty-five day year. This Note shall become due and payable in full within three days of Payee's written request for payment (a "PAYMENT REQUEST"); PROVIDED, HOWEVER, that Payee shall not be entitled to make a Payment Request prior to December 16, 2002. The date falling three days from the Maker's receipt of a Payment Request shall be the "PAYMENT DATE." Maker shall pay the principal and all unpaid accrued interest in a lump sum on the Payment Date. All payments of principal and interest hereunder shall be in lawful money of the United States of America and shall be made to Payee. All payments shall be applied first to accrued interest and thereafter to principal. Without prejudice to the other rights of Payee pursuant to this Note, if Maker fails to pay any amounts due on this Note after demand, all unpaid amounts shall accrue interest at the lesser of: (a) the maximum amount permitted by law and (b) twelve percent (12%) per annum, until paid.
2. RIGHT TO PREPAY. The principal amount hereof may be prepaid in whole or in part without prepayment penalty. Any prepayment of the principal amount hereof, whether in part or in whole, shall include accrued interest to the date of prepayment on the principal amount being paid.
3. COSTS AND EXPENSES. Maker promises to pay, upon Payee's demand therefor, all costs and expenses, including reasonable attorneys' fees (defined as being actual hours worked at the standard billing rates of the attorneys involved in any matter), incurred in the collection and enforcement of this Note.
4. WAIVER. No delay on the part of Payee in the exercise of any right, power or remedy shall operate as a waiver thereof, nor shall any single or partial exercise by Payee of any right, power or remedy preclude other or further exercise thereof, or the exercise of any other right, power or remedy. No waiver by Payee of any right or remedy hereunder shall be effective unless in a writing signed by Payee.
5. AMENDMENTS. No amendment, modification or waiver of, or consent with respect to, any provision of this Note shall in any event be effective unless the same shall be in writing and signed and delivered by Payee, and then any such amendment, modification, waiver or consent shall be effective only in the specific instance and for the specific purpose for which given.
6. INVALIDITY. If any provision of this Note, or the application of it to any party or circumstance is held to be invalid, the same shall be ineffective, but the remainder of this Note, and the application of such provisions to other parties or circumstances, shall not be affected thereby.
7. SUCCESSORS, ASSIGNMENT. The terms and conditions of this Note shall apply to and bind the heirs, successors, legal representatives and assigns of the parties.
8. GOVERNING LAW AND SELECTION OF FORUM. The terms of this Note shall be construed in accordance with the laws of the State of California, as applied to contracts entered into by California residents within the State of California and to be performed entirely within the State of California. The parties agree that any litigation concerning this Note shall take place in California state court. Each party hereby consents to the jurisdiction of that court.
9. NOTICE. All notices, requests and demands to or upon the respective parties hereto to be effective shall be in writing (including by facsimile and electronic transmission) and, unless otherwise expressly provided herein, shall be deemed to have been duly given or made (i) in the case of delivery by hand, when delivered, (ii) in the case of delivery by mail, three (3) days after being deposited in the mails, postage prepaid, or (iii) in the case of delivery by facsimile or electronic transmission, when sent and receipt has been confirmed, addressed as follows:
If to Maker: New Visual Corporation
5920 Friars Road, Suite 104
San Diego, CA 92108
Facsimile: (619) 718-7446
Attention: Chief Executive Officer
If to Payee: Charles R Cono Trust, Charles R Cono, TTEE
5550 Baltimore Dr., Ste. 200
La Mesa, CA 91942-1776
IN WITNESS WHEREOF, Maker has executed and delivered this Note effective as of the day and year and the place first above written.
NEW VISUAL CORPORATION
By: /s/ Ray Willenberg, Jr.
--- -----------------------
Name: Ray Willenberg, Jr.
Title: Chairman
Oh Thank You Pengy for providing such wonderful information.
Particularly regarding Melton Management.
"They participate in financing transactions that are rarely
disclosed publicly"
Now there's an interesting comment!
NVEI has released yet another RAQ this time more about their Embarq
Technology, relationship with Adaptive Networks Inc., and it touches on
financing as well.
Yet more good information about Embarq.
_____________________________________________________________________
The RAQ
_____________________________________________________________________
QUESTION:
Does New Visual own 100% of soon to be EmbarqT chip? By 100% I mean that
NV gets any and all revenues from EmbarqT. When you get revenues, will
any of it go through Adaptive Networks' books, like "Step Into Liquid"
is going through the books first of Top Secret Production?
ANSWER:
New Visual owns EmbarqT and gets 100% of the revenues when it is sold.
Once we receive revenues we will pay a small royalty on every chip that
we sell to ANI, as partial compensation for using their intellectual
property, under the terms of our license and development agreement.
Unlike the limited liability corporation that owns "Step Into Liquid",
the revenues for EmbarqT will be recognized solely by New Visual.
Investors will be able to identify clearly what those revenues are when
they appear on the Income portion our Income Statement as "Revenues".
Investors will also be able to identify clearly the amounts that are
paid to Adaptive when they appear on the Expense portion of our Income
Statement as "Royalties Paid".
This area of business and law, which governs how technology is licensed
and sold, is complicated and unique. It does not always relate to other
aspects of general business, so it is easily misunderstood. New Visual
has for several years now retained consultants and lawyers who
specialize in this area to make sure that our relationship with Adaptive
Networks, Inc. (ANI) and other technology partners is properly and
legally documented.
One of the concepts that is not usually found in other businesses is
that the owners of an asset may not always be the receivers of revenues
when the product that is based on the asset is sold. In this case, New
Visual co-owns some of the intellectual property, and licenses some of
the intellectual property. The two types of intellectual property
together comprise the product known as the EmbarqT transport processor.
QUESTION:
In the Technology Briefing for Investors on Rim and PowerStream, I read
that "...the Adaptive engineers have during the last 24 months completed
the PowerStreamT core, and are now working to complete EmbarqT." Does
that mean that now that PowerStreamT is complete, they are just starting
on EmbarqT now?
ANSWER:
No, EmbarqT has been in development right alongside the PowerStreamT for
the last 24 months. About seventy to eighty percent of the software code
that in is EmbarqT is also in PowerStreamT. Recently, Adaptive Networks
achieved FPGA on the PowerStreamT, which is why we are confident that it
will work for EmbarqT also.
QUESTION:
In reading the Technology Briefing for Investors on Rim and PowerStream,
I wonder if we have, in effect, funded the development of PowerStreamT?
And if so, shouldn't we get some of their royalties?
ANSWER:
No, the opposite is true. If New Visual had had to completely fund the
development of EmbarqT, we would have had to invest more money. Adaptive
Networks is a separate company that sells stock and debt to get the cash
that they need to develop PowerStreamT. They also profitably sell a set
of ASICs that funds their new generation of Power StreamT.
QUESTION:
You announced that Melton Management ltd. had invested $300,000 in New
Visual. What can you tell us about them?
ANSWER:
Melton Management ltd. is a major institutional investor that is based
in Israel. They participate in financing transactions that are rarely
disclosed publicly, though a search of SEC documents will show a few of
their stock holdings in US companies.
Melton Management reviewed New Visual's business and technical plans and
status before making this investment. They are also parties to the
non-binding agreement-in-principal that will result in an investment in
the Company of between $1.5 million and $2.5 million. Melton and other
investors recently completed an identical financing with another OTCBB
company. This gives us additional confidence that they will complete our
financing package.
QUESTION:
It seems that ANI has also given or sold the rights to PowerStreamT to
two other companies. Is this true, and does it somehow compromise our
technology?
ANSWER:
Both cases of licensing pre-date our license and development agreement
with ANI and were known to us before we entered into the relationship.
Neither case allows another company to license the EmbarqT enhancements,
thus there is no scenario where a competitor could come to market in
outside plant wireline telephony with an EmbarqT-like product.
Source: http://www.newvisual.com/questions/index.cfm
O.K. Now I understand where you're coming from.....
Note: Excel was kind enough to add your "Sound Effects".
New Visual DD by EXCEL Updated 11/23/2003
Rim. I take it you didn't ask anyone here if you really should be asking me these questions. If you had you wouldn't have responded. If you had re-thought about what I said about Brady living through it you wouldn't have asked.
Remember that show.......You Asked For It?
Especially read the bold parts as I'll be commenting on them.
Let's try to first to be positive and find a PR that came true!
WOW! What a concept!
Here's a positive one for you.
They actually did what they said they'd do!
June 20, 2000
New Visual Entertainment Announces Intent to Effect Reverse Split of Common Stock
Company To Pursue Listing On Nasdaq Small Cap Market
SAN DIEGO--(BUSINESS WIRE)--June 20, 2000--New Visual Entertainment, Inc. (OTCBB:NVXE - news), a pioneer in the development of proprietary transmission technology focused on delivering the ultimate ``last mile' solution, today announced that June 22, 2000 has been established as the record date for a 1:4 reverse split of its outstanding common shares, changing the share count from approximately 94.5 million to approximately 23.7 million. The Company noted that the reverse split will not change the percentage share ownership of any shareholder. Fractional shares resulting from the reverse split will be rounded up to the next whole share. Upon market open on Friday, June 23, 2000, the Company's common shares will commence trading under a new symbol to be assigned by the NASD. It is expected that the new symbol will be ``NVEI'.
After putting the proposed, Board-approved reverse split to a vote of the Company's shareholders and receiving subsequent approval, the Board of Directors has elected to proceed with the stock adjustment in order to meet the price requirement for listing on the Nasdaq Small Cap Market.
According to Ray Willenberg, Jr., Chief Executive Officer of New Visual Entertainment, ``It is our intent to file an application with the NASD to list on the Nasdaq Small Cap Market once the reverse split is effected. With over 10,000 stockholders, management's first priority remains focused on delivering enhanced shareholder value. We have recognized that in order to aggressively build the Company, we first must attract broad retail and strong institutional support of our stock, as well as buy- and sell-side analyst sponsorship. Listing on the Nasdaq Small Cap Market is the first step towards achieving these critical market objectives.'
http://www.newvisual.com/press/detail.cfm?ID=21
Now that we know they are able to complete a PR lets move on to the pigs stuff that you said couldn't be backed up.
But WAIT!
First let's have ourselves a little flashback!
When I said in my post about PR's being put out to sell 144's lets start off with a perfect example of one............
New Visual Entertainment Opens New Multimedia Services, Corporate Headquarters Office in San Diego
SAN DIEGO, Feb. 22 /PRNewswire/ -- New Visual Entertainment, Inc. (OTC Bulletin Board: NVXE - news) announced today that the Company has moved into its newly renovated offices at 5920 Friars Road in San Diego, where the Company's basic sales and administrative needs will be served and all multimedia design and web animation will be produced by the Company's wholly-owned subsidiary, Impact Pictures, Inc.
The Company reported that it is in the midst of launching its multimedia services division. New Visual's President Ray Willenberg, Jr. stated, ``With new prospects calling on the Company for CD-ROM business cards, electronic brochures, web spots, printable banner ads, and animated web 'Splash' pages such as the one found on our website at www.newvisual.com, we are enjoying the task of trying to keep up right now. We truly feel that the Internet and multimedia industries are evolving towards a TV-like medium, and we intend to develop both infrastructure and content in that business.' The Company believes that its ability to establish a presence in electronic media development and publishing will compliment the New Visual's efforts in 3D content production and delivery through commercial and consumer broadband internet applications. As recently reported, the Company's New Wheel Technology, Inc. subsidiary is developing high-speed digital transmission technology that the Company feels will pave the way for the delivery of bandwidth-heavy content such as real-time audio/video, 3D video, and animation.
http://www.newvisual.com/press/detail.cfm?ID=7
Huh? Keep up? Ray what are you trying to keep up? The BS 144 PR's? Where is the sales from all those calls? You won't find any revenue from this in the filings.
But Rays buddy Rich sure made out well with shares!
Got to love the good old boys network!
http://www.newvisual.com/press/detail.cfm?ID=7
Okay on to the pigs chow.............
Movie monies going to TSP
New Visual Entertainment, Inc. Signs Feature Film Production Agreement with Producers of 'Endless Summer'
SAN DIEGO, April 10 /PRNewswire/ -- New Visual Entertainment, Inc. (OTC Bulletin Board: NVXE - news) announced today that the Company has completed a joint venture production agreement with Bruce Brown, Dana Brown, and John-Paul Beeghly to produce a feature length, storm chasing surf adventure film for theatrical distribution.
The Company will provide financing for the film in exchange for a 50% stake in all revenues from worldwide distribution and merchandising. The film will be released as a New Visual Entertainment, Inc. production and Ray Willenberg, Jr., New Visual's CEO, will be the film's Executive Producer. The film will be written, produced and directed by Dana Brown, Bruce Brown, and John-Paul Beeghly.
http://www.newvisual.com/press/detail.cfm?ID=15
See anything at all in the ORIGINAL PR about their EVER being a TOP SECRET PRODUCTIONS? No you don't.
But later out of thin air it appears!
Intellicon merger
March 31, 2000
New Visual Entertainment, Inc. and Intelecon Services, Inc. Sign Definitive Merger Agreement
SAN DIEGO, March 31 /PRNewswire/ -- New Visual Entertainment, Inc. (OTC Bulletin Board: NVXE - news) announced today that it has signed a definitive agreement for the Company to acquire Intelecon Services, Inc., a leading provider of entertainment and business communications technology and value-added services, in a stock transaction.
Oh man that PR sold a LOT of 144s! Weeeeeeeeeeeeee!!!
Yet, a common theme happened here. The later DD just didn't turn out to be in NV's best interests though so it didn't go through.
You need to ask yourself this..........Was it ever really in NV's best interests? 144 wise it was. Weeeeeeeeeeeeeeee!!!
Hytek. You already posted the PR. I suggest you go read some presidents letters or listen to the people who were told by JH that this would bring us our first revenues. But wait!
DD turned up the same result. Deal didn't go through.
But those 144s sold well! Weeeeeeeeeeeeeeeeeeeeeeeeeeeeeee!!!
Lucent test -failed CuCox "technology
Follow the PR's here. Notice the timelines............
Just a snippit here that sets up the rest.
Most of you all remember original PR's announcing the tech.
May 17, 2000
Ray Willenberg, Jr., Chief Executive Officer of New Visual Entertainment, stated, ``It is noteworthy to mention that test configurations for this internal demonstration were set up in accordance with specifications required for the third party evaluation study currently scheduled for September.
http://www.newvisual.com/press/detail.cfm?ID=24
This PR here was the end of the tech.
Notice the time. September.
The stall PR and a good one to sell more 144s. Weeeeeeeeeee!!!
I sat at a table straight across from JH in Oregon as he told me the REAL reason the lucent test was delayed is because one of the engineers couldn't get it to work so he just up and left.
Took them two weeks to find him.
Then JH brought the God thing back into the equation by saying it was Greaves who discovered by a DIVINE intervention this new tech.
Remember what I'm telling you now was two summers ago long after this PR below. Of course he never told me the tech didn't work back then when I'd ask him about progress at the original time.
New Visual Entertainment, Inc. Announces Discovery Of New Technical Innovations To Its ``Last Mile' Solution
Independent Third Party Test Rescheduled For October To Accommodate Integration Efforts
SAN DIEGO--(BUSINESS WIRE)--Sept. 19, 2000-- New Visual Entertainment, Inc. (OTCBB:NVEI - news), a pioneer in the development of proprietary transmission technology focused on delivering the ultimate ``last mile' solution, announced today that its New Wheel Technology, Inc. subsidiary has determined that in the course of its development of its patent-pending Cu@OCx technology, senior engineers on the project have produced additional technical innovations that management believes may be proprietary to the Company.
Specifically, the new innovations may represent more robust features and enhanced capabilities to the Company's broadband transmission technology. Therefore, New Wheel engineers are in the process of integrating these enhancements into the existing Cu@OCx designs, which were originally scheduled for testing by an independent third party this week. In light of this development, management has elected to reschedule the independent third party test for October, which will accommodate the additional integration efforts.
Ray Willenberg, Jr., Chief Executive Officer of New Visual, noted, ``Although we are subjected to a short delay, we are extremely excited about the opportunity to implement the new design features into the upcoming milestone testing. It was an opportunity that we felt would help increase the value of the technology and ultimately enhance, and perhaps even accelerate, our development schedule in the long run.'
http://www.newvisual.com/press/detail.cfm?ID=29
Now remember above the test was suppose to be in October.
But when does it actually take place?
New Visual Entertainment, Inc. Receives Independent Verification Of 'Last Mile' Solution
Third Party Testing Confirms That Company's Proprietary Broadband Technology Permits Transmission of Data Over 8,980 Feet Of 26-Gauge Copper Wire Pair at a Speed of 54.445 Mbps
SAN DIEGO--(BUSINESS WIRE)--Feb. 20, 2001-- New Visual Entertainment, Inc. (OTCBB:NVEI - news), a pioneer in the development of proprietary transmission technology, announced today that independent third party verification of the Company's patent-pending transmission technology has been completed. Tests conducted by a division of a leading telecommunications equipment maker have confirmed that the Company's patent-pending Cu@OCx broadband transmission technology transmitted data over a standard 26-gauge copper telephone wire pair for a distance of 8,980 feet at a speed of 54.445 million bits per second (Mbps). Additional information regarding the test results is available at the New Wheel Technology website: www.newwheeltechnology.com.
Allan Blevins, President of the Company's New Wheel Technology, Inc. subsidiary, stated, ``We are extremely pleased with this accomplishment of transmitting data at fiber optic rates over copper. We are even more excited about implementing the next phase of our development strategy.'
According to Ray Willenberg, Jr., Chief Executive Officer of New Visual Entertainment, ``This significant milestone is an enormously rewarding achievement for the Company. Going forward, we intend to focus on moving the technology into the field and maximizing its full potential.'
http://www.newvisual.com/press/detail.cfm?ID=37
Did you read the above statement by Ray in bold?
What a crock of crap!
The next phase was really saying you've been diluted up the wazzoooooooooooo for NOTHING!
But those 144s sure sold! Weeeeeeeeeeeeeeeeeeeeeeee!!!
And I'm just LOVING this 250k a year job! Weeeeeeeeeeeeeee!!!
Five months later what do we have?
Look at who shows up for the 2k a week.
Remember now......... NV just got done revealing the TRUE relationship between Ivan and Adaptive.
Big mistake Bradly!
You need to think a bit more before doing that!
How many of you asked JH and Ray what he did for that 2k a week?
I know I did, and JH would stutter like he had frozen lips.
I asked Brad and he told me he didn't know either. LOL!
Let me get this straight.
You become CEO but dion't know why Ivan was getting 2k a week? Huh?
Then Brad tried to feed me this crap Ivan wasn't being paid that anymore. I said BS!
Read the filing you just released today. He said I signed it.
I said yes you did!
I said I'll email you a copy of where it shows the 2k a week.
He wrote back and said I'm sorry you were right and as of December 31st he no longer will be receiving that. LOL!
August 6, 2001
New Visual Reorganizes Technology Development Efforts
Company to Condense Operations in Pleasanton
SAN DIEGO--(BUSINESS WIRE)--Aug. 6, 2001--New Visual Corporation (OTCBB:NVEI - news) announced today that the company has taken proactive measures to re-organize its technology development efforts. These measures include changes in management and operations. Ivan Berkowitz has been appointed Vice Chairman of the Board of Directors, the company is adding new technical advisors, and operations will be reduced in Pleasanton, California. Due to the re-organization, the employment of COO Allan Blevins, CTO Mike Shepperd, and other employees in Pleasanton has been severed. Only the Pleasanton employees are affected and the company continues to employ the engineering consultants in Northern California who have been working on the Company's technology development.
The reorganization will leverage the newly engaged technical assistance of Dr. David Greaves, founder and Chief Scientist of Virata Corporation and a well-respected lecturer at England's Cambridge University, and Dr. Michael Propp, co-founder and President of Adaptive Networks, Inc. in collaboration with the team of engineering consultants already at work on New Visual's technology.
Adaptive Networks is the leading developer of high-speed power line networking technology, currently developing high-speed communications technology and silicon for residential home networking. Adaptive's technology wins include becoming the ISO standard for power line communications aboard refrigerated container ships and an IEC standard for automated meter reading. New Visual continues to form relationships with other industry partners in a variety of research and development efforts designed to shorten the time to market for products derived from its technology.
Advisory board members Drs. Kenneth Rubinson and Henry Beck will also play a pivotal role in the development of the Company's Cu@OCX technology. The Company is also adding additional industry experts to its advisory board.
Ray Willenberg Jr., CEO and president of New Visual noted, "We feel these proactive measures enhance our ability to deliver the technology to market as quickly as possible. While we remain excited about our technology and the progress in its development, we have reached a point in our efforts where, in order to take our technology to the next stage, it is necessary to bring in others with expertise in several specialized niches in this field. Moving forward, there is a collective sense of enthusiasm as we work with the world-class team now coming together to participate in our efforts."
Ivan Berkowitz, a board member since August of last year, brings years of Wall Street finance, merger & acquisition, technology development, and business development experience to the Company. In addition to a large base of domestic and international contacts, his appointment as Vice Chairman reflects New Visual's emphasis on strengthening management and operations.
Mr. Berkowitz stated, "I am pleased to take on a more active role in shaping New Visual's future. The people involved in this venture are extremely talented and I expect that our combined efforts will set the stage for multi-faceted alliances with other industry partners. These changes augur well for the future of the company and for the development of the technology."
How much crap can one read in one night? Yes Ivan. I bet you are pleased. LOL! Oh man! Yes Ray. Get that tech to market faster now. What tech? Oh boy!
Phony 23 million investment by Beter
New Visual Entertainment, Inc. Completes Equity Financing
Company Could Receive Up To $29 Million In Funding
SAN DIEGO--(BUSINESS WIRE)--Nov. 20, 2000--New Visual Entertainment, Inc. (OTCBB:NVEI - news), a pioneer in the development of proprietary transmission technology focused on delivering the ultimate ``last mile' solution, announced today that it has successfully completed its previously announced equity financing with a group of investors led by Lilly Beter Capital Group, Ltd. In this straight equity private placement, New Visual may sell up to $5 million of its common stock to the Investors over a two year period and may receive up to $24 million upon the exercise of warrants issued to the Investors. Proceeds from the placement will be used to accelerate the development and commercialization of the Company's proprietary transmission technology.
http://www.newvisual.com/press/detail.cfm?ID=32
Oh baby! May receive up to 24 million? Ray, Ray, Ray. LOL!
Those 144s were flying out the door! Weeeeeeeeeeeeeeeeeeeee!!!
Phony FPGA at SH meeting
There were many shareholders who reported from the meeting and since the meeting they supposedly passed around the FPGA.
Oh boy! Ray, Ray, Ray, Jh, Jh, Jh. LOL!
Mercatus advance fee loan scam
Read the wording in the filing. I asked Brad about it a month or so later after thinking about it more and he felt no big deal. I said it might have been a big deal to people who bought on this. I bet that sold some 144s! Weeeeeeeeeeee!!!
Okay Rim. Here is where the other 10% comes in. Remember i said 90% correct.
I can only guess on these.
Cooper leaving for "personal reasons".
His personal problems were so bad that after telling us all at the shareholder meeting this tech would change the landscape he found a job with a wireless company.
Oh man. That's a shot!
Of course his problems were a SECRET!
Cooper leaving for "personal reasons".
The rest concerning Pengy,Trex, being paid...........
It is common to be paid from companies if you bring in 144 investors. I never knew that at the time and they never offered me anything. LOL!
Learn to laugh about yourself!
Just don't keep on making the same mistakes.
That allows you to be able to laugh at ones own foolishness!
As far as Dodi goes? Well the fact is if you have a revenueless company especially you going to have to sell the dream for revenues to come. Standard practice.
But.........The announcement of FH was nothing more then 144s.
Weeeeeeeeeeeeeeeeeeeeeee!!!
Got to give credit where credit is due!
Ray you the man when it comes to selling 144s.
I think you should write the OTC 144 pumper study guide!
JH, you are absolutely one of the BEST at claiming one thing and a month later meaning another.
Rim or others..............
You can come up with all the excuses you want.
But if you don't see a pattern here at the very least you aren't looking.
Aren't you glad you asked?
Excel
Caution! A portion of this Press Release ACTUALLY HAPPENED!
So yes, it was FACTUAL!!!
Yeah you're right.....
It was the "difficult" portion.
But that Nasdaq Listing is just around the corner!!
Wink Wink
SAN DIEGO--(BUSINESS WIRE)--June 20, 2000--New Visual Entertainment, Inc. (OTCBB:NVXE - news), a pioneer in the development of proprietary transmission technology focused on delivering the ultimate ``last mile' solution, today announced that June 22, 2000 has been established as the record date for a 1:4 reverse split of its outstanding common shares, changing the share count from approximately 94.5 million to approximately 23.7 million. The Company noted that the reverse split will not change the percentage share ownership of any shareholder. Fractional shares resulting from the reverse split will be rounded up to the next whole share. Upon market open on Friday, June 23, 2000, the Company's common shares will commence trading under a new symbol to be assigned by the NASD. It is expected that the new symbol will be ``NVEI'.
After putting the proposed, Board-approved reverse split to a vote of the Company's shareholders and receiving subsequent approval, the Board of Directors has elected to proceed with the stock adjustment in order to meet the price requirement for listing on the Nasdaq Small Cap Market.
According to Ray Willenberg, Jr., Chief Executive Officer of New Visual Entertainment, ``It is our intent to file an application with the NASD to list on the Nasdaq Small Cap Market once the reverse split is effected. With over 10,000 stockholders, management's first priority remains focused on delivering enhanced shareholder value. We have recognized that in order to aggressively build the Company, we first must attract broad retail and strong institutional support of our stock, as well as buy- and sell-side analyst sponsorship. Listing on the Nasdaq Small Cap Market is the first step towards achieving these critical market objectives.'
http://www.newvisual.com/press/detail.cfm?ID=21