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PAINT JOB FAILED
They mirrored my 0.003 with a 0.0023 which of course they put last. What a joke!!!
Will Call the SEC Number
I will call the SEC number you provided tomorrow and try to stir the pot some more.
Just talked to the SEC
The SEC gentleman confirmed my previous conversation in that the MM's are obligated to show the best Bid/Ask even though this is a Bulletin Board stock. I gave him examples of the type of things that were occurring to myself and others, and he said a file would be opened and they will look into the SFNN situation. An investigation will probably be opened.
It would probably be helpful for others to call as well, and the telephone number is (800)732-0330.
I am with Scottrade and they have been executing through Nite. Am thinking of calling Nite to let them know that the SEC has been contacted concerning this stock, and that they will be watching it more closely.
Will be recontacting the SEC
Later today will once again call the SEC based upon the bizarre MM actions of yesterday. I had not pursued this after my original contact days ago. However it appears that some noise needs to be made in regards to what is happening with this stock.
If anyone wishes to contact me directly, my email address is:
theschwartzz@yahoo.com
Scottrade showing no split
Scottrade still has me at the original share number
Your wish is my command
I could not let it close at 0.01 after today's action, so painted it at the end with 10K shares at 0.011. Besides it makes my account look a bit better.
Received answer to complaint
Nite said I am not owed shares since my bid was below the ask. I guess this means that the bid price is kind of meaningless and they are free to execute trades at lower numbers. Since the person I talked to at the SEC had a different slant on this, I will pursue it to find out what exactly the MM's behavior is supposed to be according to the rules. Unfortunately the complaint issue is now moot since I was able to pick up shares yesterday at a lower price of 0.0077.
That was my doing
Called Scott Trade and they made Nite show my bid. Nite said they would show it if a customer makes a request. How generous of them.
Have a strong bid in
Have a strong bid in at 0.0077 that is not showing up right now.
It used to be that my offers would show up almost immediately with SFNN. It is going to be interesting to see what happens.
Did not file complaint with SEC
The complaint was filed with Scottrade who will then discuss it with Nite. It will be interesting to see what happens. The SEC was contacted only to make sure I was on solid ground with the complaint. Some changes have been made in regards to procedure of late, and according to the SEC this type of scenario should not occur. Will let you know what happens.
Been in and out of SFNN several times and currently have 1.2MM shares. This is the first time with this stock that the shenanigans have been that blatant with one of my trades.
NOT FILLED - COMPLAINT FILED
Had a bid in at 0.0076 which never showed on the B&A. Some minutes later the Bid moved to 0.0077 and so changed mine to 0.0078. My 0.0078 never was displayed, as the official bid stayed at 0.0077, and some trades executed below me at 0.0077.
A complaint has been filed and I would like to know if others have experienced similar problems with trading this stock. my broker is Scottrade and this trade went through Nite as the MM.
Talked to a pleasant individual at the SEC who said that the best bid should be displayed even for an OTC or Pinksheet stock.
If you wish to email me, the address is: theschwartzz@yahoo.com
Aero shares will be restricted
Peacock stated as fact that the Aero shares would be restricted and that the FCCN shares would be the only ones free trading for a time.
Filing Dates
According to Andrew they needed to put a specific date that the filings would be released in the PR for the shareholders meeting. The best guess date at the time was OK to use even if the filings were not done by then. No filings date, no shareholders meeting allowed.
The filings for the last 2 quarters, when Javelin has had control, are finished. However the note problem resides with the previous quarters, which was under the prior management, and they must be filed first.
20% number came from Peacock
Although he cannot know for sure at this stage, Peacock uttered the 20% number during the shareholders meeting. This was a higher figure than I was expecting.
That was a Boofont
For some reason I was passed by:
1. Pietro- 6.2mil
2. Pietro- Family & Friends 8 mil
3. Todwho2- 1mil
4. DR Wonderful-1mil
5. 6digits-344,000
6. psycotic1- 1mil
7.bigbear96-1.8 mill
8.friends and fam 1mill
9. capptonron -7mil
10. Digitalj -375,000
11. arjanle- 805,000
12. igtuna177 - 262,030
13.dkdk - 2.5 mil
14.iateone2- 1.8 mil
15.Justifiably - 500,000
16. the big dog -820,000
17. HokieHead - 1.5 mill
18. Highflying - 2.6 mil
19. Vip1999 - 2 mil
20. NHred and company - 440,000
21. eyes_only - 507,000
22. soonertime - 640,000
23. atldan - 333,000
25. The Third Man - 600,000
26. Goingforgold 2.58 mil
27. hbbus700-41,000
28. osiris77-180,000
29. mrbojangles & friends-431,000
30. thirdflat - 100,000
31. heyyou - 2.35 mil
32. show-da-money - 146,150
33. BM & Associates- 2.4mil
34. domain311-300k
35. Lakingsphan- 118,000
36. theschwartz - 1.27 mil
Holding 1.27 million shares here.
I show 3.7 million traded at an average price of $0.0107 which means it was more than one trade that was not being shown in the regular sequence.
Bellman is correct.
It was stated that the Aero shares would be restricted. That can bodes extremely well for us FCCN shareholders.
The one fact that really drives the point home to me that the merger will be completed is that Aero continues to draw down on the $1.5M. They have now taken $1.2M and that speaks volumes.
The next items to watch for are the filings from FCCN, which will begin very shortly.
GGI
There was a lot of discussion concerning GGI, but nothing that has not been already brought out. GGI can draw down shares if they wish based upon the current formula, and FCCN has no control over this. However it makes no logical sense for GGI to draw down a significant number of shares. The escrow share possibilities were also discussed, but it only resulted in guesses by FCCN and us.
FCCN/Javelin does not really know what Aero is going to do with the structure once the merger is complete. If all of the shares in escrow disappear then there may not be a RS. If there are still close to a billion shares outstanding at that time then there should be a RS in order for Aero to jump to a higher exchange. Aero does not want to only move up to the OTCBB, but wants to be an AMEX or NASDAQ company.
The bottom line is that GGI is only owed $200K + some consideration. That is absolutely peanuts in the total scope of things. I do not think a private placement is necessary since a profitable Aero should be able to take care of it with no problem.
You should own the same amount of shares unless there is a stock split. There might be a RS after the merger to assist Aero in being uplisted beyond the OTCBB. However the current structure of 5 billion authorized and almost a billion OS will not remain. The AS will certainly be changed. However most all of the shares in escrow are retired then there may not be an RS.
The investment bankers will have a lot of input on the AS & OS share structure after the merger. Even FCCN can only speculate upon what this would be.
Yes there certainly appears to be exciting things in store for Aero in the not too distant future.
Not really - remember these are only FCCN numbers. It is just due to the time it is taking for the auditors to do perform their tasks.
These numbers are not important as they will only reflect FCCN business, and no Aero information will be contained within them. It is just the last step in cleaning up the shell. The main reason for the delay is the auditing company. They went through a merger themselves at the end of the year which has put them behind. There may be a filing be 3/15 and at least a couple before 3/31.
MEETING - Part II
Was impressed with the FCCN/Javelin people. Peacock, Andrew and Shane were very personable and answered questions without hesitation, although there were a few things that could not be divulged. Andrew towered over my 6 foot frame, so you might want to think twice about sparring with him, LOL.
It is interesting that Javelin assisted FCCN in becoming a BDC and now today they ended the classification.
Once the filings are completed by FCCN at the end of this month, then all of the balls are in Aero's court. This means that the timing on closing, etc. is only a guess by the FCCN side since Aero will be in control. It could well be that Aero will complete the merger before the June 30 date. Probably the most immense issue timewise is the audited financials of Aero. The latest they are due is 75 days after the close of the merger. However a quarterly report would be due before then if the merger closing is around June 30.
While no specifics could be given, projects are in process that will make Aero a much more robust company by June 30 than it was when the merger process began towards the end of last year. Peacock is confident that this will result in a vastly richer reward for FCCN shareholders than if the merger were to be completed in haste. OEM and large retail interests are definitely being pursued, and other products lines are probably being explored. Aero desires to be an immensely deeper and wider company within the next couple of years than they were at the onset of 2007.
Aero pursued other avenues, exploring clean shells and talking to investment bankers, before deciding on the FCCN option.
Although the actual numbers will not be existent for some days, there is a real possibility that FCCN shareholders could end up owning 20% of Aero.
My email address is theschwartzz@yahoo.com for those that are interested.
MEETING WENT WELL!
Just finished grabbing some lunch.
I will probably put out the information gleaned in the Shareholders meeting and afterward in several posts. First some of the highlights:
1. No more BDC as already stated by Bellman and filing is done. The filing was being worked on at the meeting itself (pretty cool).
2. A 10K and 4 10Q's are due out from FCCN. They will not all be complete by 3/15 as stated earlier due to the auditor's still poring over the numbers. The 10K and 2 of the Q's are done and at least a couple of the filings should be out by the end of next week. The rest will be finished by the end of this month. Then FCCN is basically done and the rest is up to Aero.
3. The current draw down number is $1.2M that Aero has taken out of the $1.5M that was made available to them.
4. Attendees: myself, Bellman (nice meeting you) and a gentleman named Mike that was part of a group. 4 people were there from the company; Peacock, Andrew, Shane and Trish.
5. Peacock said that this was the best deal with which he has been involved. Everything has gone fairly smoothly and Aero has a great business that will only get better.
6. Javelin will be involved for at least the first 12 months after the closing.
7. Closing should be by June 30 or sooner. Do not expect any numbers from Aero before then.
I will be at the meeting as was stated previously.
I admit to being mainly a board lurker, but plan to attend the meeting on Tuesday. It is only about an hour's drive fore me. Still holding about a million shares with a mid 2's average.
I plan on attending the meeting as Temecula is a little less than an hour from where I live. Now holding 1 million shares.
Mr. TrendGreen
Your diligent efforts are greatly appreciated. Thank you for sharing the information in spite of the negative comments flung your direction by the jeering mob.
I very rarely post, but am a proud holder of 650K shares at a $0.033 average. Temecula is lees than an hour away so am planning on attending the meeting in Feb.
If you wish you may email me at theschwartzz@yahoo.com
GO FCCN!!!
They did the exact same thing to me.
I purchased 130K shares for $0.013 at 15:48 and they mirrored it at $0.0125 and of course put the lower trade last.
Investwise
I do not post very often but would very much like to hear your DD and also share some tidbits with you. I can be contacted at (714)974-4931 (Home Office) or theschwartzz@yahoo.com
Thanks
Cubfan
I talked to the company about the discrepancy in the pricing between the Silver & Gold, and although nothing could be said directly, all indications are that Investwise is correct.
2 of 4 Stores Out of Stock
2 of the 4 stores in my area show Out of Stock for the SLS Gold, Yorba Linda and Tustin, CA. Maybe my talking to the salespeople did some good after all, LOL.
Looking Good
DGM
The most likely candidate I found for DGM is Discipline Global Mobile. They are into recording and mobile music, owned by Robert Fripp.
100 Share Trades
Have seen a handful of the infamous 100 share trades at the ask so far. This should be a positive sign, and maybe the bottom has been reached at last.
The speakers were hooked up, but they were bunched together.
Yorba Linda BB Store Report
Stopped by the Yorba Linda/Anaheim Hills Best Buy to see what has happened with their Gold sales since the Apprentice. Talked to 2 salesmen and neither one of them knew anything about the system or that it had been featured on the TV program. One of them had not sold any and the other had sold a couple. He was willing to listen to what I had to say about the unique qualities of the system and the company. He said he could not look up the unit sales because he was not a manager.
The system is on an end cap but all bunched together (same as a month ago). Right next to it on the aisle is a 3 speaker Bose system for $1,299. They only had a CD to play and it sounded OK, but would have been much better if the speakers had been placed properly. Teh Bose was in demo mode and was on a custom Bose display stand with their name in large letters.
We really need better displays and at least the dissemination of
salient information to the sales people. Even just emphasizing the ribbon technology and sound quality would be quite helpful. The display would be greatly improved if it has SLS in large letters and some easy to read text with the main highlights.
There is a lot of money in the Yorba Linda/Anaheim Hills area and
I am confident the systerms would sell much better with just a little effort being put into their display & marketing.
MFG info from 10K
We generally design and manufacture our own cabinets for our product lines, and on occasion contract certain models manufactured by independent, established, local and other woodcrafters. These manufacturers construct the cabinetry to our specifications. Our ribbon drivers are either directly
manufactured or purchased from a non-affiliated manufacturer. The manufacture of our own ribbon drivers has resulted in a meaningful reduction in costs, as well as greater quality control. and we expect that it will enable our products to be
more competitively priced. We do not manufacture the woofers used in our speakers. The principal suppliers of our woofers are Belisle Acoustics, Eminence, PHL, Beyma, and Seas Speaker Component Manufacturers.
We use suppliers in foreign countries to produce components that are used in some models of our ribbon drivers and our headphone elements. Also, products used in our consumer and home theater product lines are manufactured by companies offshore. These companies are diverse and produce many products for other leading electronics companies and have capacities to deliver product
quantities that far exceed our expected needs.
Our sources of supply of other component sub-parts are all
competitively priced and we have a sufficient number of other sources of supply available to us should the need arise for additional components. If an existing relationship with any current supplier terminates, we do not expect to have any
difficulty in replacing that source.
Our manufacturing and assembly operations for our core products,
including our commercial and cinema lines, are performed at our headquarters in Ozark, Missouri. All of our fixed assets are located in the United States.
Agent
Thanks.
Since I am feeling very positive about GZFX at the moment, I want to make a rash prediction that we will close green today or at least be green tomorrow (above 0.0132). Hopefully my crystal ball is working well, and I really do have quite a large collection of quartz spheres, LOL.