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I can't help it. I told you that Alexander was going to push the stock up and then sell and get out!That's exactly what he's doing!! Because the Amazon quest LOI isn't coming to fruition! If it was, why would he get out now? And CVSU began in 2005?!Read on:
Section 3 - Securities and Trading Markets
Item 3.01 Transfer of Listing.
As a result of the agreement noted in Item 1.01, and incorporated by this reference; the surviving name of the corporation and trading symbol will be Conversion Solutions, Inc (OCT BB: CVSU).
Item 3.02 Unregistered Sales of Equity Securities.
As a result of the agreement noted in Item 1.01, and incorporated by this reference; the following securities are issued to the exiting officer per employment contracts;
(a)
David Perley
Operations Manager
2,000,000 Common Shares
(b)
Randy Moseley
Chief Financial Officer
1,000,000 Common Shares
(c)
Jacquie O'Neill
Account Manager
30,000 Common Shares
(d)
Jerry Willeford
Fleet Manager
20,000 Common Shares
Section 5 - Corporate Governance and Management
Item 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers.
As a result of the agreement noted in Item 1.01, and incorporated by this reference; the surviving Directors and Officer of the Reorganized corporations are listed as follows:
Exiting Board of Directors
(a)
Michael Alexander
Chairman
Exiting Officers
(a)
Michael Alexander
Chief Executive Officer
(b)
Randy Moseley
Chief Financial Officer
(c)
Jacquie O'Neill
Account Manager
(d)
Jerry Willeford
Fleet Manager
(e)
David Perley
Operations Manager
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Surviving Board of Directors
(a)
Rufus Paul Harris
Chairman
(b)
Ben Stanley
Director
(c)
Jerry Bivens
Director
(d)
John Walsh
Director
Surviving Officers
(a)
Rufus Paul Harris
Chief Executive Officer
(b)
Ben Stanley
Chief Operating Officer
(c)
Darryl Horton
Chief Financial Officer
(d)
Jerry Bivens
Corporate Secretary
(e)
Romeo Venditti
Executive Vice President of Global Investements
(f)
Sabra Dabbs
Executive Vice President Investments
(g)
John Walsh
Executive Vice President Administrations
Ya'll just don't get it. I'm trying to give you the other side that's not a PR campaign and is only intended to enlighten you as to the track record of this company. As I said before, I neither own or ever would own stock in this company. I was only trying to give info I haven't seen on this sight but needs to be considered. Of course if all of you can afford to lose your investments, then by all means grab those shares! If not, do yourself a favor and do the research!
signing off, for good....no response needed
Furia/Fronthaul has entered into at least 4 LOIs since Feb. this year (counting the Amazon lumber quest) and NONE of them have come to fruition. There was the "Little Trucking Co" LOI, another trucking co. LOI in the DFW area, this Amazon lumber quest, and one I don't see Fronthaul mentioning but it is available on the SEC's files, which is the one below with Utilicraft Aerospace Industries. That LOI was dated 2-16-06 and if you read all the way below you will see that as of Utilicraft's filing dated June 19, 2006, Furia/Fronthaul has neither made a good faith deposit nor the escrow deposit. And the question is why did they file an LOI with a company that is going under itself and is undergoing management issues?? I understand though from market reports that announcements of LOIs seem to push the stocks up! If you want the rest of the info just check sec.gov
As filed with the Securities and Exchange Commission on June 19, 2006 by Utilicraft Aerospace Industries SB-2/A :
"We have also entered into a Letter of Intent to Lease a Fleet of FF-1080-300 Freight Feeder Aircraft between Furia Organization, Inc. and Fronthaul Intermodal, LLC (collectively “Furia”) and the Company dated February 16, 2006 (the “Furia LOI”). The Furia LOI sets forth the preliminary terms of an arrangement between the Company and Furia pursuant to which Furia intends to lease ten FF-1080-300 aircraft with an option to lease an additional ten aircraft. Furia intends to operate the aircraft under contract with a freight aircraft operator. The Company has further agreed to build and certify an Extended Range (ER) version of the FF-1080-300 aircraft for Furia. Furia will be responsible for negotiating the terms of lease of the aircraft and the Furia LOI sets the purchase price at $13,500,000 USD FOB per aircraft delivered, plus tax, shipping, transportation costs and other expenses. The purchase price is subject to adjustment in the event Furia makes lease payments directly to suppliers of certain components of the aircraft. The Company will be paid by the lessor of the aircraft pursuant to an Aircraft Purchase Agreement between the Company and the lessor. The Company may pay a broker a 10% commission if a broker is required to acquire a suitable lessor for Furia. The Furia LOI specifies that delivery schedules are to be negotiated and included in the to-be-negotiated Aircraft Purchase Agreement. The Company has not yet entered into substantive negotiations or any definitive lease or aircraft purchase agreements under the Furia LOI. Furia has agreed to provide the Company with an initial “good faith” deposit of $10,000 USD and upon entering into a lease agreement an additional $90,000 USD to be kept in escrow until the aircraft are being produced and to be applied to the purchase price as provided for in the Aircraft Purchase Agreement. Furia has paid neither the good faith deposit nor the additional escrow deposit yet. The Furia LOI is also conditioned upon John Dupont and his management team, remaining in majority ownership or control of the Company."
Hey, RonnieD - I'm hesitant to post this but I wanted to let you know the answer to your question about the 4000 referrals. It means that 4,000+ people have signed up and registered with Fronthaul (that's the only way they can get access to the loadboard for freight). They now have to go through a process of submitting licenses and providing insurance, etc. Alexander has it set up like a "pyramid scheme" with downlines. The problem is if there's no freight being posted on the loadboard, then there's no one hauling freight through it and no one is getting their "referral pay" through the downline. If you remember just the other day someone posted a message that they had registered 9 days earlier and no one had even bothered to reply to him. This "referral based" idea of having a "ghost driver" as Alexander calls it, is supposed to be the only one like it in the industry, making it unique. However, that part of the business doesn't seem to be working, does it (based on the SEC filings)? .If you get the chance to call in to the MN1 interview, ask Alexander for a dollar figure on how much Fronthaul has paid out in referrals alone. It should be an easy answer since that is the basis for someone using his company as opposed to other trucking companies. Just having a 4000+ referral base doesn't mean that 4000+ people are working and hauling loads or getting any referral pay. It only means that 4000+ people have registered - just like any downline in a pyramid. I would guess Alexander is at the top of all the downlines!
I see why you chose the name "Bully"
Are you saying Alexander's Furia common stock was valued at the time at about $25,000 ?
I said I wouldn't post anymore messages. I'm only answering those directed to me.
Alexander has always called the shots. Here's the background from their own statements:
"ITEM 1. DESCRIPTION OF BUSINESS
THE FURIA ORGANIZATION, INC. (the "Company"), was incorporated as
Furia, Oringer Productions, Inc. under the laws of the State of Delaware on June
26, 1984 for the purpose of writing and producing film and tape television
programs and theatrical motion pictures.. By 1991, the Company had transferred,
assigned and disposed of its entertainment properties. In April 1994, Pat
Fashions Industries, Inc, ("PFI") the Company's subsidiary and only operating
entity, filed a Petition in Bankruptcy under Chapter 11 seeking the
reorganization of PFI. The Chapter 11 was converted to a Chapter 7 Proceeding
and PFI was then liquidated. Resultantly, the Company had been seeking a merger
or combination candidate in any industry and has been inactive since May 1994.
On August 26, 2004, The Furia Organization, Inc. (the "Company")
completed the acquisition of Fronthaul, Inc., a privately held Nevada
corporation ("Fronthaul") The Company entered into a definitive acquisition
agreement with Fronthaul and its principal shareholders to acquire all of the
capital stock of Fronthaul in exchange for the issuance of common and preferred
stock of the Company.
Fronthaul was incorporated on June 9, 2004."
Actually, Fronthaul Inc. has been incorporated since June 2004 and has been operating as such. They renamed themselves Fronthaul Group just recently.
That's correct. I wish you all the best of luck!
I own NO shares in this company and would never buy any....I know someone who used to work for them and I know the way they operate. I was just giving a heads up by offering up info already on the web given by the company itself. I can see how you could think what you did, but I won't offer any advice again.
Just a heads up...The domestic trucking fleet? It consists of 5 trucks. Mike Alexander said on the live interview on MN1.com on June 21st that he started with 2 trucks and worked up to 4 then 6 but hopes to make it ten soon. From reading info on the web that has come from Fronthaul / Loadsource / Furia themselves, they had several hundred in their fleet. They also talk about 2 major contracts and intermodal services (by rail), so how did they go from over 280 leased trucks (see below) down to 2, then 4 & 6 (per M. Alexander's own admission on MN1.com)? The questions are: (1) how many times has Fronthaul serviced their 2 major contracts; and (2) how many times have they used their intermodal services; and (3) how much money have they paid out based on their referral system boasted to have 4000+ members? And one major question is where did all the money go that has already been invested in Fronthaul if the fleet is so small and the employees consist of 5 people (according to one of Furia's statements). On their SEC filings, they show the majority is consulting fees. Hmmm..... See statements below from Furia's statements. (Also, Furia filed bankruptcy before joining with Fronthaul. Interesting....)Remember Fronthaul Group was previously Loadsource & Furia.....
"Logistics. Loadsource is a motor carrier. Loadsource moves its contracted
shipper's loads with leased trucks and trailers driven by drivers hired by
Loadsource. More than 280 trucks and 420+ trailers are part of Loadsource's
leased fleet. Furia's contracted shippers include Coors Brewing Company and
Swift & Company (approximately 80% of total sales revenue). This component of
Furia interfaces seamlessly with Fronthaul as the drivers are recruited from the
Fronthaul database, and Fronthaul's load matching service facilitates the
probability that the Loadsource trucks are full on their return trips.
Intermodal. Furia is engaged in providing Intermodal transportation services to
its customers, a Freight Forwarder business. For example Furia utilizes
Intermodal services to move freight from the Coors brewery to the rail, by rail
to the destination city, and the local distributor. As no driver or tractor is
needed to move these loads, Intermodal services are cost effective. Intermodal
services also access air and ship cargo to meet the specific needs of our
clients."
Did any of you catch the live interview with Mike Alexander the CEO of Fronthaul on MN1.com (June 21st)? He said that the contract came from an investor in his trucking business and that the investor had had it around for a couple of years and hadn't done anything with it so the investor passed it on to Fronthaul to see if Mike Alexander was interested. Sounds like the INVESTOR is trying to help Fronthaul keep its doors open so HE won't lose his money!! If the contract has been sitting around for 2 years and has had such potential, why didn't HE hop on it?!! It sounds like a big hype story to increase the stock price so they can collect their money and run!
I know where you're coming from. I've been watching Fronthaul since it's beginning and I know about it's ups & downs. But when a company states in it's SEC filings that it may not be a viable entity if something doesn't change soon, then any venture following that would come under scrutiny in my book. The excerpt below is from Fronthaul's SEC filings:
"Liquidity and Capital Resources. The Company's capital resources have historically been provided by a combination of sales of its Common Stock, loans from shareholders, short-term loans and proceeds from convertible notes and revenues generated from operations.
The Company intends to raise additional capital through an offering of its Common Stock or other securities to provide additional working capital to fund future operations.
At March 31, 2006, the Company had current assets of $145,241 and current liabilities of $2,488,971, resulting in a working capital deficit of $2,343,730.
Net cash used in operating activities decreased approximately, 290% to $(1,244,761) for the nine months ended March 31, 2006, from $(319,338) for the nine months ended March 31, 2005. The decrease in net cash used in operating activities was due primarily to increased year end audit fees; legal fees; additional SEC filing expenses; and other general and administrative expenses. The Company also incurred financing fees associated with its convertible notes.
As discussed below, the Company's ability to continue its growth will require additional funds from various sources. If adequate funds are not available on acceptable terms, our business, results of operations and financial condition could be materially adversely affected. In a worse case scenario, we would have to scale back or cease operations, and we might not be able to remain a viable entity. During the quarter ended December 31, 2005, the Company negotiated convertible notes in the amount of $1,750,000. See Note 5 to the financial statements for a detail discussion."
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It may be Fronthaul Group's 1st LOI (since they changed their name and stock symbol) but it's not Fronthaul/ Loadsource/ Furia's first. They've had at least 2 in the last few months and they fell through! Also, everyone needs to read Fronthaul's SEC filings! They're operating in the red! Also, their independent accountant/auditor resigned because Fronthaul submitted it's quarterly SEC report for March '06 WITHOUT their independent accountant being able to complete their review. The independent accountant also stated that another reason they resigned is that the company purchased it's own stock with it's own money and that was a violation. The excerpt below was copied from Fronthaul's filings and everyone should read it. I'm just saying....everyone needs to do their own research before they invest.
"Item 4.01 Change in Registrant's Certifying Accountant
On May 18, 2006 Murrell, Hall, McIntosh & Co., PLLP, the auditors, of The Fronthaul Group, Inc. (the "Registrant") resigned as the Registrant's independent auditors. Murrell, Hall, McIntosh & Co., PLLP did not seek the Registrant's consent to its resignation. Therefore, Murrell, Hall, McIntosh & Co., PLLP's decision to resign was not recommended or approved by the Registrant's Board of Directors.
From October 24, 2005 through May 18, 2006, there were no disagreements between the Registrant and Murrell, Hall, McIntosh & Co., PLLP, on any matters of accounting principals or practices, financial statement disclosure or auditing scope or procedure, which disagreement(s), if not resolved to the satisfaction of the former accountant would cause it to make reference to the subject matter of the disagreement(s) in connection with its reports.
The former accountant reasons for resigning were the 10-QSB for the quarter ending March 31, 2006 was filed prior to their completion of their review and that the Company's purchase of its common stock violated certain loan covenants and were not properly disclosed to the public."