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In other words, you need permission to NOT pollute.
(After proving to their satisfaction that you don't.)
Dino
I didn't think we owned it. Isn't it being leased?
Dino
Been a few years, but I think they sent me an email with a magic word that I had to enter on one of RB's pages to validate.
Dino
One answer might be that as a stockholder in Exxon, I would strongly object - to the point of trying to replace top management - if they spent billions of "my" money to fight environment zealots, court battles, and then designing and building a refinery which would be unnecessary, and therefor not profitable, by the time is is operational. Remember, the time to go operational is probably the same time to develop the alternate fuels the administration is pushing.
Dino
Does anybody know what is actually in automobile fluff? I keep reading the it's stuff they can't recycle, but what stuff? Is it foam from cushions, or fibreglass insulation, or rubber bushings, or nylon upholstery & headliners...?
Hmmm, carbon based fuel and fertilizer from spun silicon dioxide. Naaw, can't be. So what is?
Dino
There should be nothing wrong with suggesting a feature on renewable fuels. It's quite topical, these days. If they ask "great story !!..uh do you own stock?" Your answer should be "Yes, i do. Don't you?" And I suspect you could add "in several companies." That's why you suggested it. If it's interesting enough to you to buy stock in some of the more promising companies, you figure it'd be interesting to your viewers - especially in Dallas.
The way I hear it, soon there'll be more ethanol in Texas than oil.
Dino
Grant,
I just got off the phone with Redwood: According to a memo he read me from Signature Stock Transfer, the dividend was mailed to "direct" stockholders (certs in posession) on 5/3. All stock was also transferred to brokerages for "street name" accounts at that time, also.
I then called Vanguard Brokerage Services, where my USSE stock has been held in street name since November 2006. On the second call-back, about 5 minutes ago, an internal notice from their clearing agent, Pershing, appeared in my account. The dividend was received today and will be posted to my account tonight. Since Pershing does the back office stuff for a number of discount brokerages, this indicates that a lot of the confusion has ended.
Dino
I've seen it several times (although not with a change in the shares being delivered). Even if the SSTP shares were delivered, the pps would drop by the value being received.
The pps will drop in half, but, remember it's the MMs who control the price. If they have massive orders from short covering, the pps may open unchanged or even rise.
IOW, hang on to your hat: better still, your wallet.
Dino
Knew it would happen!
We dangled the bait long enough, someone would sink low enough to take it. *G*
Dino
Essentially, that question has already been answered by the TA. Remember, they said that the dividend shares would be paid ONLY to holders of record on 12/1 and they have a list to determine who they are/were. From their point of view, that's what will happen.
Also remember that most of the shares are held in "street name", i.e., as entries in brokerage house computers. Because there is a "due bill" attached, that means if I sold (all hypothetical, mind you) 1000 of my shares held in ScotTrade to GEO who bought them in his AmeriTrade account and then flipped them to you in your Bear, Stearns account, the TA would notify ScotTrade that I was entitled to 1000 shares. Scot would put them in my account, notice the due bill and transfer them electronically to AmeriTrade. AmeriTrade would do the same thing and send them on to their rightful owner, dh_200, at Bear.
Okay? Nobody lied. They just described the elephant from their point of view.
Restricted shares are just that. They can't be traded without written permission from the company. I'd almost guarantee none have been traded. Therefore, the TA issues certs to those people with the big red "restricted" stamp on them.
Dino
The ex-dividend date is the determining factor. If you sell your shares today, you will have to deliver the dividend shares, also. That's the meaning of "ex" dividend.
Dino
Try readingthe rest of the statement. Pay particular attention to the second paragraph.
Dino
The Board of Directors decided to make this change in the best interest of shareholders and to assure compliance with applicable securities law rules and requirements which would have otherwise further delayed issuance. In addition, rather than issuing restricted, non-tradeable shares, the dividend shares will be of identical trading status to those owned by each USSE shareholder on Dec. 1, 2006.
Shareholders who held restricted USSE shares on Dec. 1, 2006 will receive a dividend of USSE restricted shares.
Shareholders holding registered USSE shares on Dec. 1, 2006 will receive registered USSE shares which will be immediately tradable.
Holders of restricted shares will receice restricted shares. I do wonder how the basis date will be established. Normally, the date would be the date of the purchase of the original shares; however, management has the option to date them from the time of delivery. I know...I got screwed that way once.
Dino
No, I didn't say I was happy. I'd have preferred *registered* SSTP stock. Since that wasn't an option...
With pink sheet stocks, no one can predict the effects. Yes, the pps should be 1/2, but it refected that price when SSTP was created, even though the stock was still bundled. That made no sense, so cutting the pps in half again may not occur. In essense, it's already happened.
Of course trying to apply logic to the market always gets me in trouble. I have to keep reminding myself to trade on emotions, not facts. That way I can lose money just like everyone else.
Dino
Not at all. The fees my IRA would have charged me to hold restricted stock would be equal to its current market price. This way I've got fully tradeable shares.
Dino
The obvious answer to your question, "why compensate usse with sstp shares?" is: because they have no money.
Dino
If they meet the requirements, the stock can be listed on whichever board the management wants. Some stocks have been listed immediately on the NYSE. (Special exemption made for lack of operating history.)
Dino
You forgot to mention that the purchaser of the restricted shares must also be a "qualified investor", basically, a millionaire. (The SEC's assumption, entirely unfounded, is that millionaires are not dumb."
Dino
The Securities and Exchange Commission. Highly regulated, including requiring the profits of frequent trades to go to the company. Yes, penny stocks are usually not watched closely, but they can be.
Dino
"Who's to say that someone on the inside doesn't have enough shares on the float to do some damage with?"
That's better than the 1-8 in the filing.
Dino
A farmer was just authorized to grow hemp last week. I can't remember where, but it made the news. He jumped through a whole bunch of hoops, but finally got permission.
As a fibre, it's very useful and non-smokeable.
Dino
Probably because it wasn't an EDGAR filing. I probably followed the same path you did and got the same results - no filings. I also checked pinksheets.com with the same results.
I never noticed the dailys before and I wouldn't even have looked on otcbb.com for a pinksheeter. Learn something every day, I guess.
Dino
I agree. Until the ex-dividend date occurs, you are selling or buying units consisting of one share of USSE and one share of SPC, "when, as and if delivered".
Dino
"Does this mean if you don't continue to own you don't qualify for it."
I think that is true. You will receive the spin-off dividend, but, because neither the ex-dividend date has been announced, nor has the price split been determined, when you sell USSE, I think you are selling both companies' stock. Somebody quoted the applicable SEC section a long time ago. You'll have to search for it, but it's in these posts, somewhere.
If your USSE stock was in street name, you'll probably never know it happened.
Dino
Somebody said that it couldn't be done
But he with a chuckle replied
That maybe it couldn't
But he would be one
Who wouldn't say so 'till he'd tried
So he buckled right in
If he worried, he hid it
So he buckled right in
To the thing that couldn't be done
And he did it
Can't remember who wrote it and I probably botched some of it, but...
Dino
Oppenheimer Funds is not the same company as Oppenheimer & Co. Fahnestock & Co. bought the retail business from teh mutual fund company and decided that it was a better known name. The guy from Oppenheimer who got upset is with the stockbroker, not the mutual funds company.
Still, I agree with your sentiment.
Dino
Oregon Institute for Science and Medicine (www.oism.org)ran an experiment to see what would happen if CO2 levels were doubled. The result was 15% greater plant growth. What a TERRIBLE consequence! More food. How awful!
Dino
AMEX here we come.
Dino
NOTICE OF SPECIAL MEETING OF STOCKHOLDERS
TO BE HELD JANUARY 25, 2007
Notice is hereby given that a Special Meeting of Stockholders of Dreams, Inc., a Utah corporation (the “Company”), will be held at 9:00 a.m. local time on January 25, 2007 at the Company’s headquarters, Two South University Drive, Suite 325, Plantation, Florida 33324 to consider and act upon the following items of business:
1. To authorize the Company to effect up to a 1-for-8 reverse stock split of the Company’s common stock and a reduction in the number of shares of common stock the Company is authorized to issue from Five Hundred Million (500,000,000) shares to One Hundred Million (100,000,000) shares (the “Recapitalization”);
PURPOSES OF THE RECAPITALIZATION
We intend to apply to list our Common Stock on the American Stock Exchange, Inc. The listing standards of the American Stock Exchange, Inc. require stocks to have minimum bid price of $2.00 per share at the time of their initial listing and maintain such price for a period of 20 trading days.
Hmmm. You may have a point there.
Actually, they still produce lubricants that are hard to find but work very well. (My pickup has almost 320,000 on it, doesn't burn oil and just passed emissions inspection.) They also claim to have shipped reactors to SA for the project.
Anyway, it's an entertaining company to watch. Even the receptionist is fun to talk to.
Dino
Green Star Products is using algae to produce ethanol in a JV with DeBeers in South Africa. Based on what I've read, USSE's process should be able to use it. Might have to dry it first.
Dino
Nope, guess again. Just like the President signs a treaty and it isn't final until it is ratified, the Mayor may sign a contract subject to ratification by the Board.
Apparently, you've never dealt with governments before. They don't use the same rules the rest of us do. For example, if you receive a Purchase Description and bid on it, you normally respond with a proposal. The proposal explains how you will implement the PD and, usually, to impress the customer, you describe better ways to implement the system than were in the PD. Great news! You won! Now you implement the PD AS WRITTEN, not your better ideas. Go figure.
Dino
If not interest, surely discussion. Under the heading of Customers the following statement appeared:
"USSEC will provide the city of Vidalia MS with cheaper, cleaner electricity."
Note, this is not "under negotiation", it is stated as a fact. That means either someone jumped the gun (again) or the contract has been signed.
Dino
Z,
I tried to call. Your answering machine asks for my number and hangs up. I'm not taking it personally since it doesn't even wait to hear my voice. Since I'm too cheap to pay for this service, I can't reply to your private message.
Does the feedback form in the I-box go to you or Matt?
Dino
According to the discussion on permits, there are NO emissions. Water vapor would be an emission. If nothing is vented, then 60 pounds of raw materials in should produce 60 pounds of some kind of product out. I don't recall a mention of anything being added to the mix, but I also don't recall anything saying that soybeans and corn are the ONLY ingredients.
Dino
Oops, I just got to my post. Didn't mean to imply MY company. I'm just one of the stockholders. Actually one of the smaller but most vocal ones.
It's a lousy job, but someone has to do it. And there's no one who can do a lousy job better'n me!
Dino
If you can find me a clean shell for less than $50,000, please contact me. I've tried several times this past year and couldn't find one at a reasonable price. I could use two of them right now. The last one we tried to use cost approximately 3% of my company in stock, plus a LOT in "fees". Since my company was valued by the investment house advising us at about $20,000,000, that makes the shell cost a minimum of $600,000. As you may have guessed by now, we didn't do the deal.
Unfortunately, the days of cheap RMs seems to be over, both from a time and expense basis. We would still have had to file and wait about 90 days or more before getting permission to trade. That's the same timeframe and cost as an IPO. Since we'd already done the financials, etc., we're just doing a self IPO. We'll be done a month later, the same mont we lost haggling out the first deal.
Dino
Try "nubbin". It's safer, sounds just as good, and no one is quite sure what one is.
Merry Christmas, everyone. Please drive safely... I don't want any of you to hit MY car.
I'm gone 'till Wednesday.
Dino
Why not? One day licenses are available. The cigars, though, are verboten. They contribute to global warming, you know.
Dino
Fishing permits (licenses):
Resident - $9.85/season
Non-resident - $17.85/season
Source: Mississippi Department of Wildlife, Fisheries and Parks
Yup, they're required. At least THAT problem's solved.
Dino
Yeah, I know. I just get out my copy of Rudyard Kipling every once in a while. Of course, there's one more "if".
If you can find the #$%^&* book in the mess your den has become...
Dino