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Tj is right.... Hasn't budged since...
I would agree with that statement. The answer is to make more. I know we've discussed it before and in spite of all the proffered answers, we won't know until he says something. I've asked him that question in an email (unanswered) along with others. Is it the enhanced ability to raise capital? Value in the Hydroplant? Was he going to merge with a shell anyway? Grow the company rapidly and sell it? It's a fun (ok, slightly amusing ) guessing game, but I really
don't know.... Roger got pushed out but he is picking up a preferred note for another 14 mil ( anybody got the exact number? ) this month.... Plus, none of the Insiders are selling or have sold, (as far as we know)
I'm just Northwest of Chicago. About an hour and a half from Hammond, In. I was at the new faculty in Hammond on March 9th and got a tour. Most of what I learned I've shared with the board.
The things most of us shareholders want to know are known by Zaric and a select few. No matter whom I talk to, their motivation and/or issues involved with the latest delayed financials is info I'm sure I won't be able to get... I'm as curious as the next guy, but what I do know is they're busy over there and I see the trucks on the Tollways here and occasionally speak to drivers who stop at various places in the town I work in... It's a good, growing company.
The only thing I'm concerned about is if Zaric's interests are congruent with ours. However, I think that's true with every company (public and private) you take an investment in. And actually, that's what the financials will help us all understand... If he's on the level, we should do very well going forward. The guy was already making decent money with the company as a private entity. This is not a case where a guy has a company that sells/produces absolutely nothing and has to issue BS pr's to sell shares so he can pay his mortgage and eat...
Nope.... Since the yard moved to Hammond I don't get the opportunity to see the equipment as much. I'm still looking, though. I'll get a pic of the first ad trailer I see and get it posted..
Roger Slotkin, the former CEO, is staying on with the company as an adviser.... Per one of the latest press releases....
I agree 6pak.... No response from NZ after two separate emails concerning business questions. Also, Carlson hasn't responded either. As to the advertising.. I see Pro Star trucks all the time, however, I've yet to see one of the 30 new trailers (the ones we own) with advertising. The trailers we lease, for obvious reasons, will never have ads on them. Maybe it's time to email "the advisor".... At least he had a 100% email return rate with me...
Nice mobile site, however, I had to send them an email concerning the Google map on both of their web sites ... It gives the incorrect location of a company not affiliated with Pro Star.
I don't have enough information at this point the to say. Additionally, I don't know if they're going to be other companies who will eventually be under our corporate umbrella. To be safe (and fair), I just simply posted that factual information. I won't waste my time contacting IR, I'm positive I won't get a straight answer
ASN Holding Llc
Several days after Roger resigned from the company, a new company was formed in Indiana by Nikola Zaric on 4/13/2016, using the 1850 Clay Street address (which is also the address used for Pro Star Auto Group Llc). The new entity is called ASN Holding Llc.
Anyone can search the Indiana Secretary of State website (business search) if you'd like to see it for yourself. The business Id# is 2016041300341 if you want to search it that way.
Don't know what it means. Just providing the information.
Not much, really... I'm just a curious guy... I thought perhaps someone here may have turned over a rock or two to find out. .. Maybe we got a good deal on the rigs and he got a job.... I'm OK with it...
Any chance these 19 trucks Pro Star picked up in March belonged to Sagiv Israeli (the new COO)? Gonna start digging on that...
6pack, excellent synopsis and questions you pose. I will tell you, Roger was the only one who answered every email I ever sent. I've yet to receive one reply from Pro Star. Even on simple matters such as the misstated milage on their MCS-150 form. Carlson, at IR, has been average (at best) in his return emails.
One question I can answer for you (because I've been there myself and been taken on a brief tour) , the acre property (1708 Michigan Street) is already being used for trucks and trailers. They actually occupy more than land than that as they also have access to more land around their double bay garage (this facility is separate from theie 1850 Clay Street address which is a few blocks away). They have, for all intents and purposes, moved out of their Des Plaines repair facility and consolidated operations in Hammond. They yard have also left the hard they were leasing on Wood Dale Road (in Illinois) several months ago, again consolidating in Hammond.
Nope, still here.,.. Nibbled on the bid Tuesday and added a little more. Have never sold a single share. I won't be able to join the "slapfest" tomorrow as I'll be on the road to Nashville...
Still a member of the wise 75.....(give or take)...
212-896-1233. Phil Carlson
As of several minutes ago, shares outstanding are the same as last reported about 6 weeks ago (give or take)..
404,794,716
Just emailed the transfer agent for the count... I'll post it as soon as I hear back
I hear ya... That's all you can do... Dig for everything you can get...
This video has been out a little while. Most of top management, (Zaric and Kovacevic included), dispatch employees, garage personnel, yard employees, supervisors and quite a few drivers are all Serbs. The "IC" on the last names is one give away.... I work with a Serb and can have him watch the video. But I'm relatively certain it's informational, in general terms, concerning Pro Star Freight and White City Logistics (another Zaric trucking company--- a small one)...
No clue.... Just being newbies? New corporate entity (corresponding with an official move to Indiana)? Expansion? Asset sale?
Thanks...
Yep... We've discussed their new location being adjacent to the Gibson yard and all of the potential new vehicle transportation business I assume is available.
I will extremely pleased if we go that route. We'll just have to wait and see if in fact, this new business is ours.
Yes, a little. We had exchanged several emails last Tuesday. Seemed to me to still be engaged in the company. When a little time passes, I'll contact him again. As it pertains to our investment, it's Zaric's show now...
From a little DD a few months back (of public information) one can Google "Pro Star Auto Group LLC" or check the FMCSA website and search that name. The company was created in January (via the Indiana Secretary of State ---business search). You'll find our Clay Street address listed. A half dozen or so car carrier trailers are on their way... (again, my own DD). Now, because the entity is a limited liability company, the state of Indiana does not have to show principles/ officers of the company in the state filing. The registered agent is associated with our new CEO. It is still not 100% clear if this company is/will be ours. I'll be shocked if it's not. I found IR to be snippy concerning my direct questions about the new company a couple of months ago so I sat on the info... I've decided to share it so let's see what happens...
The US DOT approved authorization for Pro Star Auto Group to begin operations a few weeks ago. ... Again, all public information.
Roger is out...
You may find it interesting, and perhaps for those that remember the initial move down from .0184, the market maker ASCM was all over us fighting for control on the bid and ask. They pounded us back under a penny (to about .008) and slowly went away after that.
What was interesting to me was I'd never really noticed ASCM before. We all now how BMAK treated us last year, however doing a little digging there seems to be at least, a tangential connection between ASCM and BMAK and Magna. I won't post names of the individuals, however, there exists a good place to start. It entails other people's DD with companies which have no relation to us. I was just searching names and corporate entities and stumbled on this.
This is not the start of a conspiracy theory on my part...
It's just food for thought for us curious (sometimes in the dark) shareholders...
Google "a closer look at the awesome penny stocks cartel". The story is with The OTC Today from 2013.
That couldn't have been said any better. We don't belong on the Pink Sheets, either. It's just a matter of time until we move up.
This nonsense will come to an end eventually.
Perfect! It's nice to have focus back on operations. And I appreciate the conservative outlook... As you know I see Pro Star trucks on the road quite often, however, I've yet to see one of their new trailers decked out with advertising.
The day I do I'll snap a photo and post it.. That way we may stay ahead of news... Which isn't easy to do...
I like it !! I know we factor some of our freight I'm just curious if we sandbagged the revenue number for 2015 a little... Maybe pushed some of that top-line number forward a bit into 2016 .... Hard to think revenues were essentially flat with the those numbers...
WWG. Thanks for staying on top of that. I have sent several emails to the company about that. It's interesting that they hired a compliance officer for their safety rankings ( that's a very good thing), as it was pointed out to them long ago that the incorrect mileage they listed on their MCS-150 form could have caused a significant problem for them relating to the calculation of their safety rating, if it went
un-corrected... Anyway, it's nice to see it fixed.
I'm rather inclined to believe JMD Aviation Holdings is a paper entity created through the listed agent. The corporate address for said agent is the same as JMD Aviation.
Okay, great. I'm interested in the individuals who are involved with that firm. I'm not smart enough to know what information I DON'T need....
I believe I have a start... JMD Aviation Holdings LLC.
Incorporated May 28, 2015, in Delaware.
300 Delaware Ave Ste 210A
Wilmington, DE
Directors/agents; United States Corporation Agents Inc.
Not sure if that's the one.. Checking the 40 Walker St. address in New York listed to JMD ... That's not looking too promising..
Yep. That was my dead end... Nothing in the New York Sec of State business data base... Incorporated somewhere else I suppose...
Correct... Does anyone have any information on JMD Aviation Holdings Llc? They hold the 2.5 mil. senior note...
Got it.. I'll save that.. Very helpful. Thanks..
OK, straight off my notes from last year. "Portions of closing cash- $1,512,500 was provided by Magna in the form of two toxic notes;
$1,250,000 1yr. term 10% interest 20% discount 3 lowest prices out of 5 trading days prior to conversion.
$265,000 9month term 10% interest 15% discount same conversion schedule.
Can't say if perhaps the 440k is what's left on these notes as they're 1year and/or less.
Here is the contract on the 2.5 mil senior note. (Don't know if you have to add back the https:/) due to the ihub bot taking it out.
https://www.lawinsider.com/contracts/2fV7WvSi6HoN7k61A2BZyM/hydrophi-technologies-group-inc/new-york/2015-11-24
WWG, I don't believe the 440k is all that's left. I'll have some time later to dig through what I have and I promise to provide my take. However, I will say you're absolutely correct about paying the note off in cash and leaving the share count alone as much as possible. That would benefit all of us.
I'm using the 625 mil. number for my valuations so I'm on the far end and can stay conservative, as I would much rather be pleasantly surprised those (some/all ) remaining shares don't get issued.
Yes, of course. The effort to take this down COULD be explained by the aspects of the convertible note I referenced last night. For example , our company owes the holder of this note $100,000 cash OR $100,000 worth of stock on each successive monthly anniversary of the filing of the 8K/a. I think it's fairly obvious, for all of us, that we as shareholders, would prefer the company pay the $100,000 in cash every month (or pay it off entirely but let's set that aside for a minute). Based on the amount of revenue we generate, that would seem to be a no-brainer. However, if the holder of said note, for whatever reason, was confident he would be receiving at least some stock during one (or more) of the payoff off periods, he would undoubtedly want the stock price much lower at/near the settlement date(s). For example, let's look at our stock price.
The holder of the note has his 100k coming due. The stock price is at a penny on the nose ( for conversion purposes). If the holder is getting stock, how many shares does he get in lieu of the hundred grand? Answer- 10 million shares.
If the stock price were to fall in half by the conversion date... let's say, to a half a penny a share, how many shares does he get for his hundred grand now? Answer- 20 million shares.
I will venture to say that anyone holding notes such as these, in viable, growing companies, would love to grab as many shares as possible upon conversion. There you have the incentive to drive the stock price down. In our case, how much money did it really take to push it down? The answer to that is not much. You can also employ a market-maker or two help by strategically shorting here and there... It's a simple process.
Now, this particular note does not have a discount feature on the conversion price so we're really not looking at traditional toxic debt. Additionally, there is no incentive for the receiver of the stock to then turn immediately and dump it on the open market. Quite frankly, we won't know exactly how the company is handling the repayment of this note until future Financial releases. Again, I would prefer they pay this note in cash and not issue more shares. But we will have to wait and see .
King, in my opinion, part of the answer concerning the odd trading since the audited financials were released may have to do with the repayment schedule for the 2.5 mil senior note from the merger. I don't have the ability to post the filing right now (if someone can do it I'm sure the board would appreciate it.... I would as well). Anyway, we were required to pay $250,000 a few days after the 8k/a was filed... Then, on each month thereafter, $100,000 is due (we have to issue stock if we don't pay cash) . this goes on until the note is paid. ( with interest of course). There are a few other ancillary covenants in that note if someone can post it everyone will be able to read it. I do not believe there's a discount feature with that particular note.
Sorry Mouse, I don't have the ability to return a P/M.
You're absolutely right Easy... I can only speak for myself as many of you know I'm a value investor with a very long-term time horizon. I've said it before and I'll say it again, I don't begrudge anyone for making money... long or short, flipper or trader. This recent decline has allowed me to pick up shares at prices I find pretty cheap (this a.m. included) ... I wouldn't be unnerved if it goes lower from here. I will buy more regardless of price if the market cap is undervalued (IMO of course). I will add as it's been my experience that in situations such as this (undervaluation in a new and growing company ) with the need for convertible financing over, and potential for management to "allow" some conversion on remaining selected prior notes (read wink and nod deals), there will be the elimination of the rest. Leaving the few majority shareholders with the power and control of the company according to plan. Once done, at some point in the future, there will come a gap up (usually on news - it doesn't necessarily have to be big news either) which will leave some investors (traders/flippers) on the outside looking in if their timing is unfortunate. The days of picking up a million shares here or there for a few grand will be over.. forever..