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25M dumped so far - what do you think people getting out ?
Anyone on the board selling ?
GM
Geccos if it is a choice of paying a retainer fee or loosing the club would it not be wise for them to pay the retainer and take the hit. At least they would have a chance of turning round operations.
GM
So Greccos they are still working with a lender ?
Do you think they will have it sorted before the receivers step in and close the club down and sell it off ?
Just that things are on a bit of a tight schedule, you know.
By the way if you were a lender would you give these guys a loan based on the fact they can't pay their bills and they are ''struggling right now'', your words, in the busiest time of the year ?
You still think the club has an evaluation of $14.5 million ?
GM
FORDGT 95% of pinksheet companies lie either most of the time or all of the time in their PRs that’s why this is called the wild west of investing.
The majority are pump and dumps and most dumped their shares to the market illegally i.e they did not raise the appropriate paperwork (504) with the SEC to raise capital for the company. Basically they got a doggy lawyer and master broker to write an opinion letter and they flooded the market with illegal shares.
This is something that could be prevented but the SEC and other regulators choose not to.
So I ask you these questions to give proof to this board why you consider this stock to be legit.
1. Apart from the PRs what proof do you have that EM-100
is a legit industry process for extracting oil from Tar
sands?
2. If it is a legit process what proof do you have that KSWJ
had/have the exclusive rights to market and license the EM-
100 process worldwide other than PRs released by the
company ?
3. What proof do you have that we had joint venture partners
other than the PRs released by the company ?
4. Have you spoken to George Anderson lately - you know with
in the last year ? If not why not ? If so what was the
number you contacted him on and what did he say ?
5. Can you show me the paperwork the company raised to issue
the 100s of millions of shares to the open market or
through what parties these shares were issued legally.
You know the ones that we own now.
Make us believers FORDGT and answer these questions with
credible links, PRs or contact nrs.
Cheers GM
Mrgoodbuddy I think that is the problem, the club does not bring in enough to pay the expenses of running the club. If the receivers work that out early on in the process they will just shut the doors, then from the sale of the club the preferential creditors will get paid first i.e Bank, inland revenue, private loans and so on. At the bottom of the list is salaries and ordinary creditors (suppliers of food beverage etc).
Thats the way it is here in the UK.
gm
Mrgoodbuddy I think that is the problem, the club does not bring in enough to pay the expenses of running the club. If the receivers work that out early on in the process they will just shut the doors, then from the sale of the club the preferential creditors will get paid first i.e Bank, inland revenue, private loans and so on. At the bottom of the list is salaries and ordinary creditors (suppliers of food beverage etc).
Thats the way it is here in the UK.
gm
Mrgoodbuddy if they have appointed a receiver does that not mean that it is over i.e. the club is now out of the control of the owners ?
GM
So Geccos what do you have to say about the refinancing ?
You were working on the refinancing of the debt and got out bid and that was as of the 1/5/2008. So why did they not come back to you if the other party(s)fell by the way side?
You were talking to them upto 2 weeks ago, why would they not have had that conversation with you ?
GM
Hi bruddahb003, I realise you want to keep the info between yourself and Mstep but can you reveal if it is negative or positive on the company ?
Cheers GM
BIG BALLER do you think that will make any difference? I have spoken to pinksheet CEO'S many times over the last 5 years and all you get is bullshit. It's like speaking to a politician, half truths and lies.
Pinksheet PPs live and die by dilution and all I know that this CEO has been less than truthfull about the O/S and float of this company when communicating with posters from this board. I have already given examples of that on previous posts.
GM
Geccos ''Thats not our problem'' What is our problem the fact we were suckered in and lost thousands of $$$ and we may have no company left and their is probably a billion plus shares in the O/S.
If Chornomud and Susnar lost millions on this then that is their problem, many private business ventures go under all the time and people loose money. The problem here was they decided to try and recover their losses by turning their failing private business into a public company for one purpose only, to sucker investors in to gain cash.
GM
Geccos this was a pump and dump and you know it. The club was genuine enough but the business was going down the toilet and we were suckered in to try and grab as much cash as possible.
They released PRs about the O/S which was a lie and they released PRs about acquiring other candidates in the gaming and nightclub markets. How the hell were they going to do that when they could not keep their own doors open because of lack of cash.
Number
WASTE RECOVERY, INC. (PINKSHEETS: WRII) -- DR Entertainment C.E.O. Robert R. Susnar III today announced that the company has been aggressively looking for and meeting with acquisition candidates in the Gaming and Adult Nightclub markets.
"As part of our growth strategy we are focused on growth through acquisition," DR Entertainment C.E.O. Robert R. Susnar III said in an interview today. "We are looking at a few of the smaller chains of gaming taverns as potential targets. Of course a lot will depend on the structure of the individual deal, but if successful we hope to have a firm foothold in the Gaming and Casino market within the year and the acquisition of an established chain would greatly accelerate this process. Acquisition will add top line revenue growth and be exceedingly helpful to investors." As clarification of an earlier press release the company has engaged council as the first step in the gaming application process to lay the ground work for their entry into casino gaming.
GM
Greccos I do not believe your attitude now.
The shell was taken over in Septemeber and it looks like the club has been sold off in an auction in Feb.
Are you telling me that the owners did not know this was coming. Bloody right they new and they suckered us in to grab as much cash as possible before the club shut down.
You have been arguing with everyone that has said anything negative about this stock, and with good reason we were negative and trying to convince people that this was a good play and that Robert and Dwight are good guys.
Now after all that pumping and it looks like we have lost our investment you say grow a pair.
Nice guy.
GM
The CEO has been lying out off his ass from the PRs back in December. Pump and Dump for sure, I would not be surprised that the run-ups in Oct and Nov were engineered to sucker people in.
Why would there be such a big run-up, no news and and an open 504.
GM
If I remember correct the TA gives out the o/s stucture ?
Might be an idea to check to see how much they have diluted over the last few months.
GM
Sorry wrong board.
GM
Can someone from the States give the club a phone tonight and see if they are open ?
GM
Tradingismylife as far as I am aware the TA does not give out share structure information.
How convenient for the owner.
GM
Geccos so you can't get in touch with them anymore ?
''To bad if it was''
You have been encouraging boardmembers to buy this stock from Ocotber 07, arguing with anyone that said a bad thing against the stock, deffending the owners when the share price was in the toilet and the o/s was going through the roof, telling us it is not the owners that are diluting its someone else, relating positve information from the company to boardmembers all along the way and now you say ''To bad if it was''.
GM
Tradingsmylife unfortunately the CEO has been giving out misleading statements from the time of the last PRs.
There are posts on this board from members who have received e-mails from him stating the current o/s is only such and such knowing he was diluting on an ongoing basis but failed to tell them that.
He e-mailed one poster the A/S was only 100m (which was confirmed) and the o/s even less, a week later it was increased to 300m, he must have known he was increasing it but preferred not to tell the full story about the dilution.
As a result people bought into his misleading statements about the o/s and also when news was suppose to be coming out.
His last statement on the o/s was based on a report from the 31st of Jan, how many shares have been added since then? What are we suppose to believe?
Its a moving target and unfortunately the o/s is moving up and the PPs moving down.
I hope he comes clean with shareholders soon if not then watch out below.
GM
We were at .0014 on the bid and .0020 on the ask at the beginning of trading there has been 1.3m buys and 415k sales and the bid and ask are .0011/.0012.
The only time I ever see that is when the MMs know there is a shit load of stock to sell.
GM
1M share purchases without the share price moving and we are suppose to have a float near the 50m mark. This just does not add up plus they have moved the bid and ask down to .0011/12.
GM
So Geccos has the club been put under the hammer and sold off ?
Just incase you have been in direct communication rather than waiting to find out on some commercial real estate site.
GM
Thanks tradingIML
gm
Tradingsmylife based on your post/reply from Bill the main concerns I have and probably most people will have in this stock are the following.
If you can get some positive feedback from Bill on the following it may also alleviate some negativity.
1. Does the company intend to issue up to the 300m A/S in the
In-term to cover on going costs for the company - will the
A/S be increased in the in-term if insufficient ?
2. If the company manages to find appropriate funding to roll
out their business plan what effect will that have on the
value of the current shares i.e. will the terms of the
funding include CD/equity based compensation which dilutes
the hell of the current share structure or a R/S ?
3. What are the current liabilities of the company - if
significant will it pose a major block in attracting
funding ?
4. Will the CEO inform us as early on in the process as possible
if funding is not available and not drag out the process,
continually diluting the share structure just to secure
salaries for himself and others.
Thanks GM
I'll tell you something, if this does end up with the club being auctioned off and somewhere down the line we get a PR saying everything is over, I will be contacting the SEC and IRS.
I have had enough of pinksheet companies setting up purely to con retail investors out of their money and the regulatory agencies do nothing to prevent this happening year in year out. It is easy to put controls and regulations in place to stop these people from screwing the system but the problem is they don't wont to stop them because everyone is making to much money including the MMs,brokers,DTCC, lawyers and the miscreants that set these companies up.
I hope this is not the case here and Dwight and Robert do the right thing by the shareholders but to date in the short life span of this company things have been pretty ugly.
GM
pennypushers do you really think that the owners of these companies are powerless to do anything about the dumping of these shares.
None of them could have phoned the master broker or brokers that are getting used to dump the shares and threaten them with a law suit and SEC intervention if they did not stop. They were all so powerless and just sat back and watched their share price going down the toilet without receiving anything in return from the group.
Been around to long and seen to many pinksheet con's to know that don't happen.
Believe me the only people to be conned are the retail shareholders.
GM
Ceccos Dwight and Robert would not be allowed to sell their private shares into the market as they would be restricted. The only shares they could sell to raise cash would be 504 shares.
So what are we saying the group and the company were dumping shares to the market through the 504 and the group went out of control and dumped 100s of millions without authority.
Are Dwight and Robert taking them to court?
This is all starting to smell a bit fishy.
GM
Speculator are syaing this is MINX and it is up for auction today ?
GM
Geccos so you are saying that the company has recieved no money from the dilution that has taken place over the last 5 months and they have no control over the shares that have been and are being dumped into the market?
If that is the case, which I doubt, then why have they not opened up an official investigation - PRd to the shareholders their concerns. They have watched the shareprice being dragged down the toilet to .0001/2 and you are saying they were powerless to stop it and had no hand it.
Does not make any kind of sense - I take it they have informed the SEC to investigate the matter?
GM
Another point is if this is the true o/s structure and there are no plans to add more to the public float then the MMs are selling this stock very cheap and alot of it.
GM
Thanks Tradingismylife - atleast it gives the shareholders an idea of how he is going to try and finance the business going forward and clearer picture of current share structure.
If this data is accurate and truthful I think we may have a case of MM or 3rd part manipulation going on here.
We will see how it rolls out.
GM
Tradingismylife if he calls you back tell him he has got a lot of pissed off shareholders who are not going to keep on purchasing shares down to .0001/2 so that he can keep on dumping more shares.
The numbers don't lie and we are seeing dilution here.
GM
I hope that this does not end up another WRII.
That was a shell merger in September and had an open 504.
The O/S was 18m in Sept and currently it is somewhere round the 1 bill mark at least - still trying to get the truth out of the CEO. People were buying all the way down thinking it couldn't get any lower but the CEO was dumping like a fiend.
Like here the WRII board had a poster that said he was speaking to the company direct on an ongoing basis.
He was encouraging people to buy from .006 down to where it is today .0001 - 0002.
They really do have no conscience most of the CEOs in pinkie land.
GM
Sky if the company released more shares to the float at 1.5 cents then they would have to cover those exact shares at .10 come the merger. Doesn't make sense. For every additional shares they sold they would have to find an additional .085 to cover the merger agreement.
GM
Tradingismylife if you are in contact with the CEO could you not explain to him shareholders/investors are very jittery with whats happening to the PPs. We are seeing increased volume and the price moving down rapidly.
I believe if the CEO releases a PR on axactly what he is doing with the O/S and A/S structure and it is reasonable i.e he isn't going to raise the A/S to a billion and dilute upto that then that would lay fears of many investors.
I am not asking for a full blown PR stating the financials and business plan just an interm realease on the sharestructure.
We are in pinkie land and there ain't alot of trust given to a company when there is an open 504, the PPs are on a major decline and the volumes are increasing significatly.
He needs to stem the negitivity in this stock.
GM
ita-elios why do you think the float is so tiny ?
We just traded 8m shares today and the price is down 31% and there has been no news in over 2 months so the trading has nothing to do with excited investors buying into a PR.
The A/S has been increased and the CEO is far from honest with the truth with regards to what he is dumping to the market.
gm
I would keep a continued eye on the A/S.
The CEO seems to e-mail people with what the status is on that day (o/s), not what he is planning to do in the near future. This is Based on e-mails recieved by board members over the last few months with regards to the O/S and float (never specific).
GM
And by the way unless the company files financials you will never get to see what the money was spent on. Thats the fun aspect of dealing in non reporting pinkies, you never realy know what the company is upto.
GM
Don't know what the difficulty is in getting a company to merge with us. Most of the pinksheet companies are a scam anyway.
All he needs is a company that looks legit and has a promising future, i'll take anything at this stage.
GM