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Sir Felx
The answer to your question is the number of outstanding shares in IBZT. I took a quick look at their last SEC filing and the company has issued over 500,000,000 shares to pay debt since Dec 2003.
Dilution Dilution Dilution
KP - Taking a break from tax returns.
I added to my holdings that day @ 25 cents. (2,000 shares)
For old time sakes, I was in Victoria two weeks ago and discussed LDSR with Elroy. He advised me that things were progressing in the tire recycling business. I am still holding my LDSR as it is so low that it is not worth selling. Mentally I wrote it off last year so if it very does rebound (Joke) it will be a pleasant surprise.
Cheers
Any idea how to access the German market?
Any possibility of a little Arbitraging (SP?)if the price in Europe is significantly different than in the US?
I have not visited the board for awhile do to work commitments.
KP - one more week of ucking taxes to go.
Cheers
IMHO the 8K did not dilute the stock
The one thing that nobody has seemed to understand is the recent selling has not "diluted" the stock. The shares mentioned in the 8K announcement already existed and should have been accounted for on previously released SEC filings. The 8K only annouced the intention of the stock sale thus increasing the float but not diluting the stock. This may be a picky point or I may have missed something in the 8K but that is my opinion.
Cheers
I was going to ask the same question. As 9:13 AM PST I have no trades which seems really weird considering the trading activity over the past week. Has there been a halt trading order or is there just no activity so far?
Cheers
OT RE: Mike Rowe Soft
I live 70 miles north of Victoria and this item has been in the Victoria and Nanaimo papers since last week. What a small world it is when I opened up this website and saw this post.
Cheers
Question?
I noticed a trade listed on stockwatch at $ 0.3199. Can anybody explain how you can make a bid\ask at such an odd amount?
TIA
Cheers
OT:KP - I can not reply privately without subsribing to the premier service.
IS that a wise idea?
Does it cost money?
The Dell system cost me $ 2,022 before taxes. ($ 293.19 in taxes) the current exchange is 78 cents ~ $ 1,577 US
The system is a Optiplex 2.8 GHz, P4, 800 FSB, 512 K Cache, Small Minitower Base
512Mb Non-ECC 333 MHZ DDR Ram
Sound blaster Live 5.1 Digital Sound Card
Fax Modem
16X DVD and 48X\32X\48X CD-RW
120 GB SATA, 7200 RPM Hard Drive
and other goodies
Works quite nicely
Testing EOM
Just received my new Dell Computer
OT: I agree with Dell advice.
I am just about to receive my third Dell system and have never had any problems with the first two. (Just old)
Cheers
KP - it is all a crap shoot with OTCBB stocks.
As to playing craps, it would cost to much to go to Vegas. We have a Casino in Nananimo but it is government run so I never go.
As to the VTSI, this investment is purly speculative. The financials are not pretty but I am playing with free money so what the hell. As you said it is only $ 385.00 ($ 519.75 CAN) so it is not going to brake me if I lose it.
I find this time of year interesting in the OTCBB market. Some speculators will be selling to trigger tax losses on their losers. On the few stocks I follow I put in stink bids for the month of December to see if they can be filled by stock loss sellers. It worked with RTEK. I have put in another bid for 100,000 shares at 0.01 (all or nothing limit). It worked last year, it might work again.
Cheers and Merry Christmas
KP - Investment warning
I have just put the kiss of death on this stock.
I bought a 1,000 shares on Tuesday for 36 cents with the profit I made on RTEK earlier this year. I was getting itchy with my US dollar account just sitting there.
You are aware of my OTCBB investing history so I thought I would warn you in advance just in case you wanted to bale. (Grin)
Cheers
KP and Rest of Board: RE Price earnings ratio
I used the figure 15 for example purposes only. I have no idea what a realistic PE ratio would be for this stock. My only point is if this stock is the "real deal", new investors will be looking at it with real financial fundimentals in mind. It is these fundimentals which will eventual determine the future stock price on markets other than the OTCBB.
AS to what I was doing on turkey day, I was actually in Federal Tax Court arguing against the CAN government on behalf of a client. The Judge reserved his ruling until tommorrow but I think I lost. Time will tell.
It is just another Thursday in Canada.
OT: The management of LDSR still believe in the product and the process (GRIN) So I am still hoping.
Cheers
Based on a price / earnings multiple of 15 For VTSI to hit a dollar it would have to have earnings of
$ 1.00 / 15 = 0.06666 per share
outstanding shares 47,000,000 times 0.06666 = earnings (not sales) of $ 3,133.333.02.
using the same math
$ 5 share price = earings of $ 15,666,665.10
$ 10 share price = earnings of $ 31,333,333.02
Well Done KP - I missed this boat - Story of my investing life.
Your statement about the market cap are right on.
I have now bailed out of RTEK. If it ever dips back to 0.001 cents I will buy back in.
Cheers.
KP Further to my problem with the the Duchess Equity Financing.
Duchess - APril to June 2003 - issued 2,335,007 shares for $ 179,032 average cost 7.667 cents per share. (check note 6 on the last SEC filing)
Subsequent dilution :
Last SEC Filing as of August 3, 2003 # of outstanding shares was 43,672,706
Per above outstanding shares now 47,139,015
Increase in shares in last 6 weeks - 3,466,309 most likly issued for less than 10 cents per share.
Interesting question How many shares traded in the five trading days were from Duchess?
I am not really bashing just doing my due diligence
Kp I did not. The story of my life.
However I have now liquidated 40,000 shares of RTEK for a net gain of $ 142.00. I still own 60,000 free shares.
What bothered me the most about VTSI was the Duchess Equity Financing and it's terms. A Part of Mr. Jones letter is copied below;
Announcement of our initial sale in the training/simulation market is not the only yardstick of the company’s recent progress. The $450,000 debenture to Dutchess Equity Funds, L.P. has now been substantially retired, and we expect it to be fully paid within the next 45 days. Further, I am pleased to report that we are finalizing a favorable re-structuring of the company’s bank indebtedness.
With the increase in outstanding shares since the last SEC filing I am speculating that the Duchess debt was financed through share issue not due to the sale of this simulator.
I still have a problem with the share price. We still have no profits. At a PE ratio of 10 to 1 the share price of 20 cents means the company has to make profits of ~ $ 940,000 profits not sales.
I believe somebody posted yesterday that the price would rise to 35 cents and then fall back to twenty cents. Pretty good guess.
I will watch but my guess is the price will slowly slide back to the mid teens before the next press release.
Just my humble opinion
I agree really weird trading. I wonder what is going on. I took my profits yesterday and today and now I am playing with "free" shares. I never thought I would be saying this but GO RTEK (grin)
Cheers
Sold 25,000 today at 0.005 - now I have the balance 75,000 at a cost of $ 25.00
I am not getting greedy any more.
Have you heard of any reason why the increased activity?
Large Volume Trading today.
KP I put 50,000 of the 100,000 up for sale @ 0.0025. Taking my money off the table.
No sale as of this memo.
Just testing! eMO
Has anybody found out the terms of the 1,000,000 restricted shares issue to this company?
Ie: how long must they hold on to the shares?
TIA
Testing
Just wanted to see if the board is still alive.
I show no postings since Sunday, which is wierd.
Cheers
Maybe Cybersearch has the answer.
My guess at the stupidity he was talking about is the naive investor who put market orders in on OTCBB stocks. A 2.5 difference on the bid and ask on 10,000 transaction is $ 250.00 plus the commission.
Just my humble opinion
Cheers
KP - The last fifteen or so posts reminds me of the RTEK and LDSR banter two years ago. The believers keep hoping and defending while the naysayers keep pointing out the obvious flaws. What are the statistics on how many BB companies actually make it?
I believe we both got hosed on LDSR and RTEK repectively.
I am still holding my 100,000 shares of RTEK that I purchased last Dec for .001 per share and all the shares of LDSR held for the last 5 years!!!!
Cheers
Ouch!!
No sugar coating by Bylocellhi!!!
Looking forward to a spirted response.
Cheers
A question, with no motive other than curiosity.
I am invested in Forecross, a San Franisco based software company, and the name Kelly Jones poped up on the 144 filings in 1998/99.
Are these two Kelly's one and the same?
Can someone explain how a company sells 7.39% of it's float in one day and only goes up 1.5 cents?
Who is selling and why?
Where are all these shares comming from?
KP - I was too greedy {grin}
I had a bid in for 7,500 shares @ 0.06 for a week that was never filled. Story of my investing life, a buck short and a day late.
As to getting in now, I am still worried about lack of major movement on yesterday's volume. If there is only 14 to 15 million shares in the float, per the website, don't you think there should be a bigger movement on the the trading of 13% of the float in one day?
I will sit on the side line and watch.
Did you check the compensation paid to the company for featuring VTSI?
Click Here to view our compensation on every company we have ever covered, or visit the following web address: http://www.otcjournal.com/disclaimer.html for our full profiles and http://www.otcjournal.com/trading-alerts/disclaimer.html for Trading Alerts. MarketByte LLC has been paid a fee of $25,000 in cash and one million newly issued restricted shares by Virtra Systems for coverage of the company.
Anybody know what the restriction on the newly issued shares are?
STockwatch confirms no trades since July 1 EOM
No message
Just checking to see if the board has gone quiet or if there are technical difficulties
Thank you both Greg and KP.
I learned some valuable information from both your posts.
Cheers
what is up with the last trade of the day?
If you can check back, look at the last trade of the day. IT is always posted about 4 to 8 minutes after the market closes. It is consistently a fairly large trade and it is an unusual amount.
Can anybody tell if the it the same MM each day?
Cheers
KP
I have been reading this board since you asked me to many months ago. The more I read the more I can not help but think of the postings to the Landstar and RTEK boards on the raging bull t u r d board. The only good thing I have done in the past eight months is not invest more than a $ 125.00 in the OTCB \ Pink markets (bought 100,000 shares of RETK @ 0.001).
Good luck and still sitting on the sidelines
Cheers
KP - It is not a big gamble
What's the down side $ 125.00 bucks
I have lost more money playing bridge in one night, (I had really bad cards and a lousy partner and it only happened once)
If it gets back to 0.01 cents then I have a nine bagger.
If you think about it at these prices you could buy controlling interest for less that $ 70,000.00
Cheers
PS I still have not talked to Landstar.
KP
No I did not purchase any shares. I went to the freeedgar site and read the Sept 3, 2002 prospectus. I copied the following
This prospectus also relates to 6,000,000 shares of our common stock that we have reserved for possible issuance to the holders of 3-year 5% Convertible Debentures in the principal amount of $450,000. The holders of these convertible debentures have the right to convert the debentures, with accrued interest, into shares of our common stock at the lesser of 125 percent of the weighted volume average price of our common stock on the date the debentures were issued or 85 percent of the average of the four lowest closing bid prices for our common stock during the 5 trading days prior to the dates the holders give us their notices of conversion.
Does this not concern you?
Next question is who is behind the Duchess Limited Partnership?
Any possibility of manipulation with the call provisions of the "line of credit".
I will do more research as time permits.
Cheers
KP - Where is my 11 cent stock tip??? Grin
These boards have sure been quite lately.
Cheers
10/7/2002 4:35:00 PM News Release Index
LandStar Rubber, Inc. - Columbus Ohio Facility
PHOENIX, Oct 7, 2002 /PRNewswire-FirstCall via COMTEX/ --
LandStar Inc. (OTC Bulletin Board: LDSR), ( www.landstarinc.com ) is pleased to report the signing of a memorandum of understanding with the Solid Waste Authority of Central Ohio (SWACO) for the Lease of Property and the purchase of buildings and equipment consisting of the retired Waste to Energy Facility located at 2500 Jackson Pike Road, Columbus Ohio.
The plant has been vacant since late 1994, when it was closed due to financial and environmental concerns. The Company will not reactivate the Waste to Energy equipment and if feasible intend to dismantle the smoke stacks. The Company will pay SWACO $6-million and will also pay $5 per ton on tires delivered to the facility. The Company is dedicated to the development of a new rubber recycling industry based on unique devulcanization technology held under exclusive North American license by the Company. This facility will be the first major processing facility for production of devulcanized rubber but will initially focus on increasing the Company's capacity to produce fine powder vulcanized rubber.
The Company has developed an array of new materials using devulcanized rubber, each with multi-billion dollar markets. In order to enter these large markets the Company is establishing a base of regionally placed facilities for the production of crumb rubber from post-consumer (primarily tires) and post- industrial (factory scrap) waste vulcanized rubber. Crumb rubber is the feedstock material for producing devulcanized rubber, but crumb rubber also has many large, although lower priced, markets without devulcanization. The current major crumb rubber markets are; 1) Asphalt Rubber, 2) Molded Goods, 3) Sports Surface, and 4) Tire Manufacture (a compatible extender, not virgin polymer substitute).
The rubber recycling industry has been dysfunctional, populated by small operators, typically producing one type of product, lacking effective processing equipment, often lacking sophisticated management and marketing, and lacking adequate financial return on investment. The Company acquired control of PolyTek Rubber &Recycling, Inc., the largest crumb rubber producer in the world, in early 2001 and has spent twenty months restructuring the business. The Company has recently completed a financial restructuring and is positioned to accelerate the current operations of this subsidiary into significant profitability in early 2003. However, significant demand for vulcanized crumb rubber exists that the Company does not have the capacity to service. In addition, new demand resulting from the devulcanization operations will rapidly surpass production capacity for crumb rubber feedstock.
Based on extensive research and experience, the Company has developed a model for a new generation of 'Rubber Recovery Refineries'designed to accept a wide variety of post-consumer and post-industrial waste rubber. Each facility will process whole tires, tire buffings, all components of factory scrap including partially cured waste, waste fiber and steel. This capability will allow rubber product manufacturers to outsource their waste and scrap operations and reduce or eliminate the costly and environmentally unfriendly flow of waste rubber to landfills.
Each 'Rubber Recovery Refinery'will be designed to segment the recovered rubber by type and value of polymer composition and produce an array of particulate rubber products to consistent specifications. In addition, the Company intends to address the industry problem of product standardization and adherence to ASTM particulate classification. All facilities will be designed to be ISO and SIGMA certified.
Each facility will be designed and sized to accommodate the quantity and type of waste rubber arising within an economic transportation constraint and will vary the finished materials mix to reflect the geographic market opportunities. The waste availability and market array will justify a significant facility in almost every major population center. For maximum efficiency, plants will have capacity to produce a minimum of 200 million pounds of finished product.
The Company has selected several regions that have particularly strong market demand for crumb rubber products and significant market opportunities for devulcanized materials as the Company introduces those products. The intent is to install facilities that are economically viable based on existing customers and product lines of vulcanized recovered rubber. As applications and markets evolve for devulcanized materials the plants will be expanded to further process recovered rubber through the devulcanization systems. In this manner, investment risk will be minimized and the Company will be positioned to shift production to the higher margin devulcanized material markets as the demand emerges, enhancing the return on the original investment.
The Company has assembled an experienced entrepreneurial management team with in depth experience in general management, finance, legal, information technology, operations, engineering, process automation, marketing, rubber chemistry, polymer research, product development and manufacturing/processing.
The Columbus facility is intended to be the flagship of the new regional 'Rubber Recycling Refinery'facilities. The Company will relocate its Dayton Pilot Plant and research facility to Columbus. The Company expects to initially employ 50 but as the facility is fully developed expects to have a Columbus workforce of 200. The Company is targeting production to commence in the second quarter of 2003. The Company expects to eventually process 10 million tires a year in Columbus with nearly 100% materials recovery and no outside storage.
In conjunction with the focus of the Company on the provision of a broad spectrum rubber recycling service the Company has changed the name of the Company to Landstar Rubber, Inc. and has changed its web address to www.landstarrubber.com .
To find out more about Landstar Rubber, Inc. (OTC: LDSR), visit our website at www.landstarrubber.com , or contact:
LandStar, Inc. Investor Relations E-mail: investor@ldsr.com 1-888-285-8355 Web: www.landstarrubber.com On behalf of the Board of Directors D.E. Fimrite President
Landstar AGM
The Landstar AGM was held in Victoria on September 27, 2002. The meeting lasted approximately 2 ½ hours and in my opinion was very friendly and informative.
After the election of the officers, which was the only official business of the meeting. Mr. Fimrite presented an outlay of where the rubber recycling industry was, the difficulties that Landstar has encountered and where the company intended to go in the future.
In a nutshell the Rubber recycling industry is an immature business made up of regional “mom and pop” organizations and very low margins and even lower profits. There are only three multi-regional companies in the US and they are Landstar, Greenman and RTI. Landstar is the only one that is primarily in the crumbing side while Greenman and RTI are primarily in the energy production side. (burning tires to produce electricity) There are no state of the art engineered plants that will generate production efficiencies to reduce costs to a profitable level There is no engineering expertise to build these plants since there is no demand. Landstar intends to change that by developing massive regional recycling centers that will be able to produce 200,000,000 lbs of crumb annually. The discussion then turned to Landstar’s three plants in Pennsylvania, Oklahoma and Arizona the problems they had with each plant and how they are correcting the problems.
The presentation then talked about the de-vulcanization process and potential new products and markets. As stated earlier the margins in the crumbing industry are very low while the demand for crumb is quite high. Landstar with its de-vulcanization process is going to change the profit margins and uses for the crumb rubber by developing new products using the de-vulcanized rubber. The two new products that I can remember are a rubber membrane to be used in the roofing industry to replace tar and gravel roofs. The other product is used to repair cracks in roads. Both these products will allow Landstar to earn $ 3 to $ 8 per pound of crumb rubber versus the 10 to 40 cents Landstar currently receives for the traditional uses of Crumb rubber.
The discussion then turned to the problems with traditional financing or lack there of. The traditional sources of funds have dried up due to the Dot.com problems, 9-11 and the poor fundamentals of the rubber recycling industry. Landstar has no intention of equity financing at these current stock prices. Note the recent sale of treasury stock at 50 cents and 25 cents per share, a premium over the market price. Landstar is seeking state guaranteed loans and or grants as a source of financing. They are currently talking to Mississippi and Ohio about setting up regional centers in these two states.
The final part of the presentation was on the market for Landstar stock. The company has ignored the stock market in order to concentrate on the business side. In the company’s opinion they are now have the business plan in place to start making a market for the stock. This market can be achieved by moving LDSR off the OTCBB and on to a recognized exchange. They made no promises on the timing of this move nor which exchange they would move to. They did state however that they believed no insiders have sold any stock in the last three years to the best of their knowledge
In conclusion, the meeting was very positive. I did not see or hear any disgruntled shareholders and in my opinion the future looks bright for Landstar.
Cheers