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OCZ Filing for Bankruptcy, Announces Offer From Toshiba to Purchase Assets
link
Sorry for the DD...
KITD Based on our analysis of publicly available information, and subject to due diligence and the execution of a mutually acceptable definitive agreement, we are prepared to lead a bidding group to buy the Company at $3.75 per share in cash, which represents an 81% premium to the closing price of KITD common stock on Wednesday, November 21, 2012 (and an approximately 750% premium to the reported after-market trading price of KITD common stock on that date).
same here...
The PAMCO Litigation
The Company previously engaged by PAMCO Management, Ltd. (“PAMCO”), as financial advisor, in connection with the Company’s share exchange and related transactions in September 2010. The Company delivered cash and shares of its common stock to PAMCO as consideration for certain specified services, although the Company did not receive some of those services. After the Company’s unsuccessful attempts to resolve this issue with PAMCO and Po Sun Liu, PAMCO’s Chairman, the Company initiated the PAMCO Litigation in Shandong Province, PRC on September 22, 2011. Through the PAMCO Litigation, the Company seeks the return of $1.8 million cash paid to PAMCO, and either (i) the return to the Company for cancellation of 6 million shares of its common stock (the “Litigation Shares”) received by PAMCO or (ii) payment in the amount of $9 million for such shares. The Company will not make payment with respect to any of these shares until and unless it is determined upon the conclusion of this litigation that the shares in question are properly held by the parties who presently hold them. The Litigation Shares and the shares owned by the Contributing Stockholders account for over 99% of the shares of the Company currently outstanding. We, therefore, urge stockholders to be certain of the source of their shares and for prospective buyers of shares to confirm that the shares they are considering purchasing are not Litigation Shares. Since we became a public company, other than the shares issued prior to the Company’s share exchange in 2010, we have not, since the share exchange, conducted any offering of shares of our common stock and we have not issued or sold any shares of our common stock. Consequently, shares available for purchase or trading by the public have entered the market principally as a result of re-sales by PAMCO or its affiliates of Litigation Shares and may be shares for which we seek cancellation.
http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=7857059
loupai- Can share what you know with the board? I'd bet the Crone Law group will stop cooperating if shareholders start to pester them...
I understand if you can't though...
loupai- Thanks for the hint. Have these correspondence letters always been available at sec.gov? Can't believe I missed this...
http://www.sec.gov/Archives/edgar/data/1172319/000000000011028475/filename1.pdf
Auditor is still engaged to audit 2010 financial statements, FWIW...
Dear Mr. xxx,
We confirm that as of August 1, 2011, we have been engaged to audit the December 31 2010 financial statements of Home System Group and Subsidiaries
xxx xxx
From: xxx xxx [mailto:xxx]
Sent: Monday, August 01, 2011 6:33 AM
To: xxx xxx
Subject: RE:
Mr. xxx,
Can you confirm that Acquavella, Chiarelli, Shuster, Berkower & Co. LLP is still engaged to audit the 2010 financial statements of the public company Home System Group?
Thanks for your help.
xxx xxx
loupai- The quarterly report does not require an audit, correct?
I agree...
That's correct. They provided no additional information. Simply states "We confirm that as of June 26, 2011 we have been engaged to audit the December 31 2010 financial statements of Home System Group and Subsidiaries."
FWIW, ACSB is still engaged to audit the December 31 2010 financial statements of Home System Group and subsidiaries per an email I received yesterday from a partner at the firm...
I'm not going to post it here, but if anyone wants to see it let me know. I'll try to send it via private message tonight.
Current O/S (as of Friday, 6-24-2011) is 67,490,166 shares, per the transfer agent:
Securities Transfer Corporation
2591 Dallas Parkway Suite 102
Frisco Texas 75034
Phone: 469-633-0101
Fax: 469-633-0088
johnson@stctransfer.com
How is CSRH involved?
Yes, a partner at their NJ office. I'd rather not post the partners name here.
FWIW, I confirmed with a partner at ACSB that as of today they are engaged to audit the December 31 2010 financial statements of Home System Group and subsidiaries...
loupai- I am simply saying it's been a couple weeks since I've visited the website, and it seems there are a few changes. I could very easily be wrong. Has the products page been updated?
Actually, it's probably only been a couple weeks. Guess I missed the PPT presentation...
Thanks loupai. I had not looked at the site for a couple months.
Is it just me, or is the website updated? Has the slide show always been here:
http://www.homesystemgroup.com/
Also seems to be more info included in each product category here:
http://www.homesystemgroup.com/Product.asp?g0t0=c_20
DZV Distributing LLC is: http://www.smarthomeluxury.com
according to BBB-
http://www.bbb.org/utah/business-reviews/range-hood-suppliers/smart-home-luxury-in-salt-lake-city-ut-22245447
Apparently Oceanic Well Profit Inc. is supplying wall type and insert type range hoods in various sizes...
http://www.importgenius.com/search/oceanic-well-profit
Nice looking range hoods IMO-
http://www.smarthomeluxury.com/index.php?main_page=index&cPath=32
But, as you mentioned, moot point for now. Thanks for sharing your DD mrdarcy1...
There is no specific future date at which the 10-K is due. It is currently past due. According to IR as of yesterday the company is still working on the 10-K.
CSTI not showing my bid yet today...
Current O/S (as of Wednesday, 4-6-2011) is 67,490,166 shares, per the transfer agent:
Securities Transfer Corporation
2591 Dallas Parkway Suite 102
Frisco Texas 75034
Phone: 469-633-0101
Fax: 469-633-0088
Thanks for the DD mrdarcy1. Impressive work...
Current O/S (as of Friday, 3-18-2011) is 67,490,166 shares, per the transfer agent:
Securities Transfer Corporation
2591 Dallas Parkway Suite 102
Frisco Texas 75034
Phone: 469-633-0101
Fax: 469-633-0088
Here's the O/S as reported on the last three 10-Q's...
Outstanding at November 15, 2010
67,490,166 shares
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=7559643
Outstanding at August 13, 2010
67,490,166 shares
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=7415523
Outstanding at May 17, 2010
67,490,166 shares
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=7264370
I agree. Not sure why they would file it 2 weeks in advance, but the communication may calm some fears...
FORM 12b-25 NOTIFICATION OF LATE FILING
http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=7484202
With the amount of debt that was converted to common stock at $3.50/share last year, I would expect some pressure on the company to speak up before to long...
new filing on pinksheets.com...
http://www.otcmarkets.com/otciq/ajax/showFinancialReportById.pdf?id=45463
tried to buy w/ Lowtrades account I keep just for pinks restricted by TDA. got this message:
Your order can not be processed at this time.
ATTENTION: ORDER NOT ACCEPTED. This symbol has been halted for trading. return code was -5
If the problem persists, please contact your broker for assistance.
First time I've seen this...
Nice volume coming in...
The pps needs to be at or above .48 for those options to be exercised? Am I reading that correctly in the S-8 filing?
grant of options to purchase 263,746,809 shares of Common Stock with an exercise price of $0.48 under the Plan.
Audio Of National YRCW Conference Call On June 29, 2010
http://www.teamster.org/content/audio-national-yrcw-conference-call-june-29-2010-0
15-for-1 reverse split...
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=7319481
Just called the transfer agent. Outstanding 461,206,692 (unchanged) with 191,606,114 shares restricted (unchanged). Exactly what I expected to hear...
Per Amy at:
Standard Registrar and Transfer Co., Inc.
Phone:(801) 571-8844