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One thing to remember is that 141 Capital (ONCP) has 35% ownership of Wind River Development Corp. -- TradeTablet's developer.
My understanding is that TradeTablet will be used within 141 Capital by its clients, but also be launched independently by WRDC and be available initially through Interactive Brokers.
Thanks, mtncabin. I took a look, and it looks like an impressive program to me.
Hi Allie,
Another thing to remember is that since 141 Capital is a 35% owner of Wind River Development Corporation, Spooz has some equity in that company too.
SB
I think they have said that the March launch will be for selected traders to start testing Tradetablet in a simulated environment. I guess that they will be doing a public launch later on, after NFA approval.
More today - 22 million shares traded.
I am guessing that the commissions would be considered fees for a service - not the same as receiving funds for trading from customers.
The last couple of PRs have indicated they are still trading for their own account.
Hi Milo, Paul mentioned in the recent interview that investors are very wary of turning funds over to money managers these days. With the market way off, and Madoff fallout it is not to surprising.
From what I can gather, the new model for 141 Cap seems to be one where customers are in charge of their own accounts - but they have access to trading tools created by 141 and others (through sharing trading templates). I think the plan resembles the original SpoozToolz plan quite closely - except now all this takes place within a brokerage (TradeTablet)
This is just what I am conceptualizing from what has been said recently from the company - I may have missed something.
Hi endub,
It appears to me that the Spooz insiders are focusing on 141 and Wind River at the moment. I think the Spooz technology is being used in this project, and the 141 equity is the compensation for using the tech.
My guess is that cash revenues will not be going back to Spooz. In theory, Spooz shares will increase in value if 141 is successful.
We'll have to wait and see how it turns out.
I have noticed that people are still buying Spooz shares here and there.
SB
Here is the PR on Share Structure
http://ih.advfn.com/p.php?pid=nmona&cb=1245186427&article=37773168&symbol=NO^ONCP
141 Capital Announces Stock Structure
141 Capital, Inc. (OTCPK:ONCP) today disclosed its share structure.
As of May 15, 2009 there were 1,168,338,925 shares of common stock issued and outstanding out of an authorized 5,000,000,000 authorized by 141’s Articles of Incorporation.
Of the 1,168,338,925 common shares outstanding, 900,685,744 shares are restricted shares, including 300,685,714 common shares that were issued to Spooz, Inc. for a license agreement of Spooz’s technology to 141. Spooz insiders hold 600,000,000 restricted shares.
Of 10,000,000 shares of authorized Preferred shares, 2,590,575 were issued and outstanding.
Errol Stone, CEO of 141 Capital stated that as a precursor to providing audited financial statements for 2008 and 6 months ending June 30, 2009, 141 will publish its capitalization on a quarterly basis.
About 141 Capital, Inc. (www.141capital.com):
141 Capital, Inc., is a publicly traded company based in Chicago. Its primary operations involve commodity trading. The company’s principals are involved in the development of software technology to develop a proprietary trading platform that the company intends to release to consumers upon its completion and the company’s registration as an independent broker with the NFA. Additionally, 141 Capital utilizes trading systems for trading financial products listed on the world's derivatives for its own account.
Safe Harbor Act: This release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involves risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic business conditions, and the ability to attract and retain skilled personnel. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
Contact:
141 Capital encourage its shareholders to email any and all questions and suggestions to us, as we usually respond to shareholder questions after business hours. Please understand it may take several days to receive a response. Email: info@141capital.com
Nuk, SPZI is so cheap now. I wonder if people will realize this is a way to buy into 141 Cap.
I would assume that the original Spooz insiders are the owners of much of WindRiver - they may have some additional investors. There is no indication that it is a public company, or that it is going to be one.
BTW, if Spooz Inc owns "just under" 50% of 141,(that's what Paul Strickland said in the recent interview) they would own just under 17.5% of Wind River.
That is a good question, MC. I don't know how we get an answer to it.
The products that Kaitrade talk about sound very much like SpoozToolz, and their employees all worked with ST.
It would be nice to get this mystery solved :)
Best,
SB
Hi Funmaxus, - I think you mean May 21 2008, right?
SB
Good to see you back here, Allie :)
To be fair, I would guess there would be quite a lot of new programming required to move from in-house trading to creating an electronic brokerage where customers could trade their own accounts.
I don't know why they had to set up a new company to make that happen.
SB
Hi Fun,
Do you have any confirmation that Wind River Development Corporation is the same as Wind River - www.windriver.com
I don't find that link at today's PR, and I am not sure they are one and the same.
Thanks for any help!
SB
Hi, Nuk
Not sure if that is the same company mentioned in the PR. The company you cite is a public company traded on the NASDAQ (WIND)- no mention of that in the PR.
SB
I found this interesting from yesterday's PR:
Spooz, Inc., an independent software vendor developed revolutionary trading solutions for electronic traders. Spooz's technology products were to provide versatile trading and analysis screens, and automated trading systems in the fast growth financial marketplace. The value of the SpoozToolz platform was that it would enable any trader to create trading applications, including algorithmic black-box systems, retaining flexibility and customizability.
All this refers to Spooz's trading technology in the past tense.
From the same PR, The mission of 141 is now "to develop spread sheet software to be utilized by consumers to perform analysis and enact real time trades of futures and options through affiliated brokers. This license provides 141 with a foundation for new analytical software and will undergo substantial upgrades over the several months. New state-of-the-art features will be added. 141 will be releasing this new trading platform to the derivatives market for use by individual investors "
This sounds pretty close to what Spooz had always been saying about SpoozToolz technology.
It would be nice to get a clearer picture of the relationships between Kaitrade, Spooz and 141.
SB
I am seeing 8.4 million shares traded on SPZI this a.m.
Hi, Nuk. What do you think it will take for people to get interested in buying SPZI? There has been no interest in the stock - no trades for weeks now.
Thanks for sharing this nukuhiva. I had been wondering what Darryl Dennis had been doing - hadn't heard much about him for a while.
News: 141 Capital to Register with NFA as Independent Broker and Order Financial Audit
Date : 05/13/2009 @ 9:15AM
141 Capital to Register with NFA as Independent Broker and Order Financial Audit
141 Capital, Inc. (OTCPK: ONCP) announced today that it plans to register with the National Futures Association as an Independent Introducing Broker. In doing so, 141 will be able to participate in commissions generated from electronic trades placed by its customers. As part of the registration process, management stated that it will order the independent audit of the company’s financials. Audited financial statements for year-end 2008 and the first two quarters of 2009 are necessary to complete the application process. The audited financials, when completed, will be filed with the NFA, and posted to 141’s website as part of management’s efforts to increase public disclosure and investor transparency.
Errol Stone, CEO of 141 stated, “As 141 has previously been registered with the NFA as an Introducing Broker, the approval process should go smoothly, and while audited financials are necessary to the registration process, we intend to undergo the audit and fully disclose the results in order to increase our level of transparency. Showing our bottom line is part of our commitment to shareholder value.” Mr. Stone noted that upon the execution of a letter of engagement that the auditing firm and schedule would be announced.
By offering discounted commission rates of futures and associated options contracts traded globally, 141 looks to build a significant customer base from which the company will generate commissions. Mr. Stone explained, “Our marketing plan will provide us with some significant competitive advantages. Low commissions for electronic trading customers will be achieved on our unique execution platform through a web-based portal currently in development that will offer global electronic trading in futures, futures options, stocks, stock options, ETFs and other listed funds, Forex, and bonds.”
About 141 Capital, Inc. (www.141capital.com):
141 Capital, Inc., is a publicly traded company based in Chicago. Its primary operations involve commodity trading. The company’s principals are involved in the development of software technology to develop a proprietary trading platform that the company intends to release to consumers upon its completion and the company’s registration as an independent broker with the NFA. Additionally, 141 Capital utilizes trading systems for trading financial products listed on the world's derivatives for its own account.
Safe Harbor Act: This release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involves risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic business conditions, and the ability to attract and retain skilled personnel. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
In the interview, Paul Strickland mentioned that in today's climate people are less inclined to turn their money over to a money manager. I guess the big declines in funds of all kinds, plus things like the Madoff scheme, have made investors more cautious. Whether 141's alternative plan will work remains to be seen.
Interesting to hear Paul mention Darryl Dennis as director of marketing at 141. I hadn't heard about him for a long time. Looks like the old Spooz team has morphed into 141 Cap now.
In this letter of the original offer it mentions Preferred Series C - and the conversion ratio is 1000:1 (It does say UPDATED on the 141 Cap web site)
http://www.141capital.com/pdfs/Offer%20to%20Exchange%20Common%20Stock.pdf
Hi nicehit.
I don't know what is going on, but I just find it hard to believe that if KT did take SpoozToolz and rebrand it without compensating Spooz at all, that Paul would let that happen without putting up a legal fight.
Which makes me wonder if KaiTrade accelerator is a private
label version of SpoozToolz and that Spooz is getting a cut of the profits. I have no evidence to support that thought - just an idea. I can't imagine that Paul would just let KaiTrade
take off with the ST code. I guess that noncompete contracts
would be in place - I'm pretty sure they were in the case of Groves and He.
Just thoughts. Happy Saturday to all!
SB
!41 Capital slips into second place for YTD return among CTAs reporting on Autumn Gold.
http://autumngold.com/
Yes, that does make sense. I know there are strict rules against hedge funds advertising, and I guess CTAs fall under the same rules. I suppose those who have money to invest in such entities have their own channels for finding information. Maybe Autumn Gold and BarclayHedge are well used by such prospective investors.
SB
And we still don't know if the conversion has actually taken place yet.
Hi, nuk. Do you think the postponing of the conversion is a possibility?
SB
Looks like someone should send Errol an email. It seems almost every time the they post something new on their site it needs correcting. lol
Thanks, nicehit. I didn't see that. You get the details if you click on the 141 name.
I think that was part of the original plan for starting 141 cap. It looks like a very tight NDA may be in place with Bloomberg.
Assets under management are now listed as 0.02. It was 0.01 for Jan. Maybe another account has been added.
http://www.autumngold.com/Statistics/RankingReport.php?sort_by=2&for=2009-03-01&type=All&desc=1
Thanks, jcrom. That is interesting information, for sure. I am glad to see some confirmation that SpoozTools is being used for trading. So far the way they are using the program seems to be working for them.
I have often thought that if a large trading organization saw that ST provided them significant competitive advantage, they might want to try to get exclusive access to it. I guess that is why I was speculating that maybe Paul might try to sell it. I could be completely wrong, of course. I guess it is a bit irresponsible for me to speculate in this way with no evidence at all.
This has to be a tough time for selling financial software to big financial institutions.
Thanks for that info, thebermellon. For those who hadn't seen that (I hadn't), here's CapnDon's post.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=35729091
I wonder what Paul's plans are for SpoozToolz. It is interesting that mention of ST has all but disappeared - I expect an NDA with Bloomberg could be part of the reason. Pure speculation here, but could he be trying to sell the program?