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Does the D added to the ticker symbol stand for death?
Four plus years later and my original one million shares is down to 1500 and worth a whopping 30 bucks. This is what happens when among other things a "CEO" and his mommy drive expensive cars (Jaguar and Merc) on the shareholders dime. At least I sold 400000 of them for a profit before this "company" started "reporting" to its shareholders and making r/s part of its business plan.
Yeah baby! What a difference transparency makes.
This may have some bearing on this activity. I have been watching this stock since it was at 0.60 trying to determine if it was a P&D or a legit startup. Still not sure but this looks like possible conversion of warrants into common shares at 1.25 per share. If the investors do not convert them by February 11, 2011 they expire worthless. Maybe time to pay the piper unless the company makes a deal to exchange these warrants for some new instruments (warrants, preferred shares, or other debt holding). This may explain why the volume has been 3 to 5 times normal.
From the last 10Q:
On February 12, 2008, the Company consummated the sale of an aggregate of 3,675,000 shares of its common stock and Class F Callable Warrants to purchase up to an additional 3,675,000 shares of the Company’s common stock for aggregate gross proceeds of $3,675,000 pursuant to the terms of a Securities Purchase Agreement dated February 8, 2008 (the “2008 Private Placement”) with certain institutional and other accredited investors, as defined in Rule 501 of Regulation D promulgated under the Securities Act of 1933, as amended (the “Investors”). The Class F Callable Warrants are exercisable for a period of three years from the date of issuance at an initial exercise price of $1.25 per share.
There are more details in the 10K just filed yesterday, December 13, 2010. It indicates that as of August 2010 there were still 3 million plus class f warrants outstanding.
glta
After the dumping comes the symbol change and r/s then rinse and repeat. Look up symbols SEVI and SEVO for the truth about this "company".
FWIW, this is a stinky pinky. SEVI/SEVO/SSEV is an r/s and rampant new share issuer loop. Search for info on the first two symbols and you will find the truth. My own experience is buying 400000 shares of SEVI in 2006 at .0022 per share. Sold 210000 at .0011 in 2007. After 2 r/s, I now have 12 shares with a total value of 0.36.
Good luck and DYOD
That loan is with Hacketts not Seaway.
IMO, he is spinning out Hacketts and then likely will just keep doing a Raven Moon like RS loop or file bankruptcy to kill the toxic finance that came with the original shell. He is a shrewd businessman. Most people would have let the toxic scum drive them to bankruptcy or just keep playing the shell game.
Result is Hacketts is $30 million in retail businesses with legitimate WFC financing in a clean shell. This is what he wanted in the first place but KS and Greenshift's toxic past were hidden in the details.
That may be true but the devil is in the details. This is what WSJ is reporting:
http://online.wsj.com/article/SB122390023840728367.html?mod=rss_whats_news_us_business
No, we are not getting hosed. We are LONGS watching our comany grow with real assets. This still looks really good in the long run. Tom is doing exactly what he said he would do.
Other keyword "WE". You have to be invested in a stock to be on any trend, up or down!
It is YOUR money because these shares are easily converted into common shares at a predetermined conversion rate. Restricted stock is for long term securing of the company and its braintrust. It is NOT for giving feel good bonuses that are richly NOT DESERVED here!
If the company is self sustaining, why not wait until the profits are rolling in to give the principals bonuses? If not, then the 1.8 million should be used to fill the company coffers and show good faith to the shareholders?
Glad to see someone else can separate the wheat from the chaff. Instead of walking carefully after the 1 for 20 r/s, they pat themselves on the back and dole out 1.8 million of our dollars for a job well done?
And the pump and dump, who funded it? I ask because this is not a stock that has been subject to this kind of blatant activity. Yes, the company has used news releases to drive dilution to fund operations but not p&d which had no obvious supported reason. This is new and disturbing behavior!
Are you serious! There is no difference between this "dump" to give the principals of the company a good loving bonus than to fund operations. In fact, this is worse because they are showing they care more about personal enrichment than growing the company. If they have that kind of money to throw around then it should not be paid by me and YOU!
Complaints, yes. Nice try! Do the math. Now the over 600% A/S increase is down to just over 250% but EI has been dumping again.
5.8 billion
------------ = 290 million (what the a/s should have been after 1/20 r/s)
20
290 million * 600% = 1.74 billion (after 4 billion reduction, a/s went to 1.8 billion)
290 million * 250% = 725 million (after today 's reduction, a/s went to 750 million)
No change in behavior by company means no reason for shareholders to start trusting them, yet. WE ARE STILL WAITING!
Newbie.. Do your DD on Tom not SWVC. Start with Greenshift and anything Seaway Valley. Look at the positions held by him and his sister in New York. This is not your usual OTCBB CEO. Look at the filing about the use of SWVF in WiseBuys before it was merged into SWVC. A very novel approach for funding a small business that most cannot even fathom. The business plan is all there in the 2007 Greenshift and SWVC filings and the different Seaway Valley entities. Then decide if he would do an r/s or buyback. I think his Wall Street background should be a clue.
My advice is get on board at these low levels now before the March filing tells all that has been going on since the end of 2007 to add per annum revenue of 30 million to this nearly empty shell created in July 2007.
This discussion is about GS Agrifuels preferred shares owned by Tom not SWVC. I think the share structure is different. And there will be no dilution because this is a0.50/share common cashout.
Ahh, Chase yes, BofA no. They loaned money to and are buying Countrywide. Not conservative nor smart.
This shows you know nothing. Tom loaned KK's companies $500K and deferred salary. KK still owes him!
I believe he is talking about the 600%+ increase in available shares following the 1/20 reverse split.
Oh, here we go again! Read the filings before posting about toxic loans. These are very different from the GS legacy debt.
Very philosophical. Problem is many company crooks do not realize they are crooks. They use the company coffers as a personal piggy bank. Some end up going to jail. Some go bankrupt after living the high life off of others money. Some play a shell game by repeatedly reinventing the company while doing reverse splits to keep appearing to be viable. And so on.
And being fully reporting on the OTCBB does not prevent any of these behaviors. You can trace many fully reporting companies back and the 10QSB says "we have not been profitable and it is possible in the near future we will cease to be a going concern" or some such. And people keep buying shares despite these facts being in the filings.
I think that all us concerned shareholders are asking here is for some good faith from the EI principals that this latest move will not be followed by dilution to fill the piggy bank. So far no word from mother, son, the ex fancy car rental salesman, or the former asset manager. We are waiting for someone to do the right thing. Give us a sign, throw us a bone, and the share price will take care of itself.
Aaaaaa whhaattt! So paying service fees to provide the shareholders with the ability to get daily share counts is not a good use of business funds but payiing company officer perks is!
How bout the company cut salaries and expenses to pay for these fees. These are small nagging issues which indicate where the shareholders stand in the company's mind. Time to get those priorities straight.
I agree. But this is now a trust issue. Time for the company to turn over a new leaf, show the shareholders some respect, and let the supply chain feed earnings. We all thought this would happen this year and I hope it does.
Problem is they have left doubt by raising the A/S. This leaves a black cloud over us (the shareholders) because they can sell those into the market at any time. That is their choice.
On target! It does not help confidence that the A/S was raised 620% after the 1/20 R/S.
For those who need help with believing the math:
5.8 billion / 20 = 290 million (what it honestly should have been)
- 4.0 billion
-------------
1.8 billion / 290 million = 6.2 x 100 = 620%
These are small little nagging issues which are not going away as time passes. I brought these car expenses up when the first unaudited financials came out and this was the response:
Posted by: KeepBuyingPinks
In reply to: stock2windaily who wrote msg# 28799
Date:2/16/2007 12:17:10 AM
Post #of 132597
Agreed, the expenses of the UAF do stand out. If you have mortgaged everything you own would you spend 11K on auto expenses and 30K or so on office and miscellaneous expenses? And what about the less than 1% payroll taxes?
Posted by: Superbee383
In reply to: KeepBuyingPinks who wrote msg# 28842
Date:2/16/2007 12:25:03 AM
Post #of 132597
I'm guessing you've never had a business by what you're assuming? Insurance for 'company' cars are alot higher than your daily driver. Phone bills for 'business phones' are alot higher than personal phones. Even 800 calls cost them when they receive them. Postage for mailings, and if they're doing mass mailings, there's a cost to the post office too. Not just for stamps either. Then you divide this by 4 months. Office furniture wasn't cheap for 5 people. Computers, phones, fax machines, Paper, envelopes, pens, chairs! These just didn't drop down from the office furniture Gods. But I guess you'd have to actually start your own business to realize what the startup costs can be. There's nothing at all fishy with the numbers they posted. 4 months, 5 people, start up costs. It's actually very reasonable
Exactly. Why would there be almost a billion restricted?
The right thing to do would have been to reduce A/S to 500 million and wait until after uplist to refill the A/S if needed.
Yep. He who dilutes today will dilute tomorrow. It is an addiction that is hard to give up. And the r/s is a sign that the shareholder is expendable.
SWVF is part of the SWVC family. It is the equity fund used to generate cash for WiseBuys. Not sure where it is now. Look at the 10QSB.
Did you listen to the last few sentences about inflation pressure and fed credibility. Look at the market move at just that moment and still continuing now.
Interesting part of that post is it said AMEX not NASDAQ. Everything Tom has been directly associated with thus far has been Nasdaq OTC. Sounds like opening a new chapter.
Very curious indeed!
Anyone seen the inside back cover of the February 2008 Consumer Reports?
More free advertising.
I am sure the GS boards would love to discuss anything you have to say.
Hint, hint.
Nothing of the sort. Pocket retail does not need a web presence. The customer is a niche community. Do some DD to understand Hacketts and SWVC and then come back and tell us what they are doing wrong.
That is obvious.
Hope all longs got more before the pop.
The bashers did a great job of separating the weaker hands while we waited for Tom to hit another home run.
You can really see where this is going and the strategy could not be getting much clearer.
Congrats to all who saw the play!
Jerry, ROFL! try again!
Hint, check Tom's resume for a clue to the real answer.
Crash, read it and weep!
We already knew the Fund was solvent and making money every year.
You left out the most important parts before and after your cut from the PR:
there will be nine Hacketts stores in total with projected combined annual sales of over $30 million and earnings of around $1.5 million to $2.0 million. These nine stores will serve as a platform to rapidly expand the Hacketts brand further. And although Hacketts is considering additional locations in upstate New York, it will be particularly interested in new locations in Vermont, Pennsylvania, Massachusetts, and Connecticut. Hacketts' Phase I goal is to prudently but rapidly expand its presence to 25 to 30 stores with revenues approaching $100 million.
the Company also now controls the Seaway Valley Fund, LLC (the “Fund”), which generated net earnings of approximately $2.0 million and $1.2 million in 2006 and 2007, respectively. The Fund, which was formed in July 2003, buys and sells securities of primarily publicly traded companies. We expect to continue the activities of the Fund and may seek to raise additional capital into the Fund through an offering of limited partnership interests in 2008
Seaway Valley is also currently seeking additional acquisitions and investments whereby it could increase shareholder value as well as diversify its holdings.
Nice. Load up as the panic continues.
This is the time for true longs. We thank those who are less confident in this story. We get stronger as weaker hands give up shares because they listen to the bashers.
You are just making it easier for longs to load up for the future.
Did you see the 1M buy at the ASK?
Keep up the good work.
This has no resemblance to ETIM. Their 23 year old Jaguar driving CEO and his mother deliberately diluted by rule 504 to get the business off the ground. Then rather than grow what they had, they took out another two million in financing to expand. The CFO was an asset manager at Ford. On top of that, they did the audit to uplist from the pinks to OTCBB and then did nothing.
By contrast, SWVC is a reporting OTCBB not a pink. Tom has a real resume and so do his partners in the businesses. He has inherited this convertible situation which he did not seek out. It is old shell baggage which was either hidden by KK or Cornell. His financing for purchasing WiseBuys and Hacketts is not toxic. No comparison at all.
Back the truck up and get cheap shares!
The rats are deserting the ship and leaving the cheese.
He must have been blindsided by the DirectView debentures. It must have been hidden until his audit. It went on the books before he became CFO.
Otherwise, why the amendment filing for the 8K about just that topic!