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I'll call, and post what I learn. Thanks.
Interesting links. The video and fact sheet mention a 50 million dollar capital raise, with preferred shares. The recent financial shows 623,000 preferred existing currently.
Does anyone know if they are convertable to common, and if so, what the conversion rate is ?
Checked Sec State FL, no increase in authorized.
Not sure this is company selling new shares, all retail MM's on ask. Etrade mostly. No question a lot of shares floating around from recent dilution.
Is company that desparate to raise $5,000 ?
Old shell paper-that's my guess. Eom.
Big 4 accounting firm would be a great move.
RebelGirl, very interesting. MM's shorting ASSUMING they would do what most pinks do upon going public - a 504. The company does not, and Nite gets trapped...
AS I posted prior, no REG-D 504 is currently on file for MCCY.
Thanks, I follow this board daily. I have been buying on and off for several weeks, and did pick up another 20,000 sh today.
Imo, we have great news, credibility form Robert Transport being on advisory board, and great profit margins. It is unfortunate we are getting selling from some unidentified source, but regardless, per my previous post, the max possible dilution I see from company initiated sources is quite limited. (Reg-D annual max = 1 million dollars).
Since the company PR'd 50 million est 2007 revenue, we should see a parade of contract PR's, along with a full year 2008 projection at some point. It'a great they are estimating so much revenue, and they only came public mid year.
The most the company could raise per year, at this time, would be 1 million dollars, via a Reg-D. I am not finding a Reg-D / 504 filing with SEC, although they can be filed a bit after initiating.
Even so, at our .20 price, the maximum number of shares MCCY would be selling in a year, at current prices, would be under 10 million. (including the likely extra shares given to PP buyer/finance house funding the Reg-D).
If we go from a O/S of 75 million, to 85 million, in the course of 1 year, it does not seem to be a big deal to me, long term.
However, it would affect the float more significantly.
******
Another possible issue here would be if entities holding restricted shares, especially those held by the former MCCY shell owners, were selling short against their holdings, to get out early. This is a common event. Has no effect on the O/S, but definitely hurts the float.
VitalTrust Brings Action Against U.S. Sustainable Energy Corporation to Recover Converted Shares
Market Wire "US Press Releases "
TAMPA, FL -- (MARKETWIRE) -- 07/09/07 -- VitalTrust Business Development (OTCBB: VTBD) ("VitalTrust" or "the Company") announced today that it had commenced litigation against U.S. Sustainable Energy Corporation , its directors and officers, and its transfer agent, Signature Stock Transfer, Inc. The basis for this action is that the defendants failed to issue a 1 for 1 stock split/dividend of 225,500,000 USSE common shares. The case is pending in Hillsborough County, Florida , Case #07-008271-Div. G.
John Stanton, Chairman and CEO of VitalTrust, is a co-plaintiff in the lawsuit. VitalTrust holds an assignment of rights to 225,500,000 shares originally issued to Stanton. The suit also asserts shareholder rights for USSE's failure to allow access to its books and records as required by Nevada law. The Plaintiffs intend to vigorously pursue this action.
About VitalTrust Business Development Corporation :
VitalTrust, a registered Business Development Company under the Investment Company Act of 1940, provides management and finance primarily to private companies. The Company invests and manages enterprises in the healthcare, energy, internet and services sectors.
Investors are cautioned that certain statements contained in this document are "Forward-Looking Statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements which are predictive in nature, which depend upon or refer to future events or conditions, which include words such as "believes," "anticipates," "intends," "plans," "expects" and similar expressions. In addition, any statements concerning future financial performance (including future revenues, earnings or growth rates), ongoing business strategies or prospects, and possible future US Energy Initiatives actions, which may be provided by management, are also forward-looking statements as defined by the act. These statements are not guarantees of future performance.
For information at the Company contact:
Mark Clancy
Chief Operating Officer
(813)-287-5787
* IMO, today's low trades are fake. I have a GTC order to buy a million shares at .0017, and have been ignored. Almost every trade has been MM's swapping shares, to get us to sell at a $ 200,000 market cap.
Look at the time and sales. Almost every trade below .003 is duplicated, at the exact same price. They swap blocks back and forth, creating artificail low trade prices, and since they have no trading cost, they can do it onand on.
No T Trades today, with good volume. They seem to be over, at least at these price levels.
One good sign today, Market Maker RBCM has closed the bid/ask. I think likely they were the key dilutor here.
I had another stock where they did the same, and in that case, they completed the sales, and closed bid/ask on the last day of the first quarter 2007.
Here, they closed out on the last day of the second quarter.
Interesting at least. I will be watching for any significant T Trades this week.
Updates sound good, glad to see an active moderator. Perhaps we could correct the board symbol as well, since the board is still KMCP.
No T Trades today, as of 4:30 pm. ??
Have we put in a bottom here ?
I have called rick 3 times, and also sent an email, and never got a reply or callback. They do provide a lot of detail in the quarterly reports, but other than that, they are quite secretive.
Just possible dilution may be ending soon. Today for the first time, all level 2 MM's, at bid and ask are retail - Nite (at bid with size), UBSS, and SBSH.
VFIN, and CGFL removed their fake bid support, and dropped out of the picture, at the same time. RBCM is off the ask, and CGFL is one level up on ask.
I suspect we see T Trades today, but I am hoping to see fewer next week, although we still have no bid support for this. One big sale, and we go down. Hopefully .003 is bottom.
We will see.........these are just, possibly premature, out loud thoughts. Hopefully I am corect, because this stock can not handle much more.
280,000 T Trade @.0038 Eom.
Some stocks they never have good data for, no predicting...just the way it is.
And thanks for the mark. I'll post if anything shows up for us.
Just checked Buyins for you, however it says: "not enough data to report on this stock".
Bullit, I believe the best approach is to ignore this board, and any board consumed with negativity.
Work the business, and the stock will eventually take care of itself. It is far too stressful to spend time in emotionally draining environments such as this.
Consider a paid membership, so you can have private converstaions, via PM. I find it much healthier that way.
I member marked you a whlie back, and follow your posts for new info, otherwise I spend no longer spend any time here.
I would like to see a day with decent volume to verify T Trade end. Hopefully, no t Trades on a day or 2 with a million plus shares.
Last couple of days hard to tell, although the bid has stabilized, and RBCM has moved up to .009 ask.
It was a while back, but I am pretty sure it was late summer 2006 when I went. They were going to postpone the event, because Joe could not be there, but held it anyway, as a trial run since they had 1 acquantaince from a NY brokerage coming. He and I were the only attendees, and 2 corp people. I am pretty sure it was the Madison ave address.
I have been to GRGR NYC Office, last year. I went to see them for the UTCS software demo. It was an upscale virtual office, there was a front desk person for many shared offices that are used on an as needed basis. We met in a conference room. Mr McGowan was there, and another company person, who developed the UTCS software.
Company people were intelligent, and professional, and the software was very detailed.
I do not own this stock at this time, but just happened to read the recent posts about their office location, and wanted to update you on what I know.
20,000 T Trade@.0042
Another drop or two, and we will be trading around the value of an empty shell. Downside is growing smaller, even with dilution, we only have an O/S around 200 million.
Problem is, there is no bid support, recent drop on very minimal volume.
No changes to 250 million authorized on Sec State web site.
Today's 2 T trades:
500,000 T Trade@.006 Pre Market
1,000,000 T Trade@.0056 Post Market
I am ok with PR deatils, but need to hear an update on some loan fundings, or the company needs to get some other revenue sources going, while waiting for the big deals to close. We did see the recent ad on the web site for a closing attorney to be hired.
The insurance merger was no big deal to me, I was concerned we would have to give up too much, and so much time went by, expected it was off. I am just glad they told us, often in pinks, potential deals are announced, and we never hear the outcome.
Perhaps some departing directors have been responsible for some of the recent selling. Maybe new directors bring in some new potential.
Mid July we will have financials, which typially do contain quite a bit of info. We will see which directors hold shares, and a current share count.
Heritage Capital Credit Corporation Provides Updates
Business Wire "US Press Releases "
WILMINGTON, Del .--(BUSINESS WIRE)--
Heritage Capital Credit Corporation (Pink Sheets OTC:HCPC) provides updates on corporate activities.
-- Revised BCLOC Program
The BCLOC Program has been enhanced to include a "BCLOC Promissory Note," which is securitized and guaranteed with a Default Contract to cover 100% of the principal and interest payments for the life of the BCLOC Promissory Note. There are plans to have several avenues to sell the BCLOC Promissory Notes for funding.
-- Merger Talks With London Based Insurance Company
Heritage Capital Credit Corporation together with a related financial guaranty company First Life Financial Corporation has discontinued merger talks with a London based insurance company to form an insurance holding company in the United States . The non-binding Letter of Intent was announced on December 21, 2006 . After a six month due diligence period, it was determined that the merger was not beneficial for the companies.
-- Board of Directors
Directors Walter Hinchcliffe and Kevin Pickard have resigned from the Board of Directors. Both directors were outside directors, who served on the board for more than two years. They gave no reason in writing for their resignations.
The Chair expects to locate new candidates for the Board of Directors, who ideally will have experience in loan origination, securities, lending, and banking to fill the 5-7 seats for outside directors. It is our expectation that their names will be presented to the Shareholders at the October 18, 2007 meeting.
About Heritage Capital Credit Corporation
The Heritage business model, which is implemented through its subsidiary, Independent Capital Credit Corporation , is to process, originate, and prepare real property and commercial assets for securitization. Once securitized, they can be delivered to investors for funding.
Using proprietary software and loan modeling techniques, Heritage can underwrite real property and commercial projects based on cash flows.
Safe Harbor
The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking information made on the company's behalf. All statements, other than statements of historical facts which address the company's expectations of sources of capital or which express the company's expectation for the future with respect to financial performance or operating strategies, can be identified as forward-looking statements. Such statements made by the company are based on knowledge of the environment in which it operates, but because of the factors previously listed, as well as other factors beyond the control of the company, which include the ability of the company to implement its business plans and consummate the proposed acquisition, actual results may differ materially from the expectations expressed in the forward-looking statements.
Source: Heritage Capital Credit Corporation
one T Trade, 20,000 shares
I'll post T Trades daily. Eom.
Re: AURC Press Release. Do you think the TA change announcement could just be from Select to Fairross ?
Aurus rarely seems to act quickly, or pro-actively. This would be the no effort way to default to a new TA.
And it was real strange they did not name the new TA.
Form T trades: There was 1 T Trade 4pm Thursday for 300,000 shares, none on Friday, but volume was very low.
I am following RBCM in particular, looking for them to leave the ask.
Generally I agree with you. In this case, I think otherwise.
Neilhk, your points are on target. Your comment about advice of the pr company postponing the shareholders meeting is interesting. We know they started June 1.
Today we saw initial web site changes. Also, the Heritage Capital corporate description at the bottom of each pr, changed today.
And the contact name at the bottom of the pr changed to the VP.
I think you are correct, we are seeing the influence of Gregory FCA here.
Thoughts on current situation.
If they have been honest with us that they are close to completing some closings, we will do great, and have plenty of funds to cover their low overhead.
I suspect the reg-d may raise enough funds to get them through most of the year, considering the CEO has taken shares rather than salary.
The fact that they are spending money on the Marketing firm, and the Audit seems to indicate a company confident of future revenues, and survival. Audits are not cheap. So, I do not believe they would be spending valuable cash on these optional things if they were not confident of sales revenues coming in time.
But they must close some deals this year. If not, next years reg-d will destroy the share structure, with the need to issue huge numbers of shares at much lower prices, or do a reverse.
The things that keep me positive for the moment are the above mentioned audit, and marketing firm, the lack of any pump pr's, the fact that they are even considering a shareholder meeting, and the previous website notice for hiring a closing attorney.
In 3-4 weeks, we should get 2nd qtr financials, including share structure, and loan closing updates. Hopefully, they are just running a few weeks behind, they only postponed the shareholder meeting 1 quarter, and probably did not want it until they could report revenues.
No, we will have 2 stocks with value. Eom.
I am eplaining several logical POSSIBILITIES. If shares are issued to acquire an asset, it's a good thing. Growth does not come out of thin air.
If posters choose to view positive progress in a negative light, so be it.
Third possible reason to separate into 2 entities:
If an opportunity arose, where we could acquire a valuble new mining property or mining company, for 1 million dollars, or less, we would need a new trading company, since CWRN has nearly completed its annual reg-d offering.
This way, we get a second stock, and it can raise a million, with it's own reg-d, and buy additional mineral rights.
Reason to delay good news PR.
Imo, it is imperative to hold any good news until after the R/S, in order to support the price following the reverse.
If pr'd now, the stock would jump up temporarily, then much of the momentum would be lost coming into the day of the Reverse.
I am confident Bob understands the need to support a stock post reverse. I think the pending new deal/good news may have happenned first, then Bob realized it would provide the perfect post reverse support. Imo, this probably caused him to move the reverse split date way forward, rather than waiting for Quantum J/V revenues to hit.