Alex needs audited financial statements to prove he's a real "G" and impress his shareholder homies from da hood.

For the time being, he's only shooting fluffy PRs. And how's ATWEC gonna make any dough if they just give their stuff away?

They could at least provide unaudited financial updates. But nawwwww.

Interesting. Either he failed his high school math or some people DID invest at higher prices.

I wonder what BV is worth now...

Ok so Wiley is saying he expects 1.5 m $ in revenue in FY 2007. And FY 2007 ends in August. So:
a)Either a lot of the revenue is booked already;
b)Wiley had no revenue thus far and expects a surge in revenue in the coming months for some reason;
c)Wiley is lying.

I'm still long ATWT for the time being.

To those who received their letter.

How did Alex explain the increase in A/S and what did he say about future dilution?

Well...did anyone receive their letter?

And if so, what does it say? TIA

Exactly. I made my decision knowing that I'd either lose everything or win big time. That's why I only bought 1 million shares - gamble money.

With this PR, Alex will be compelled to clarify the current state of matters. This means either the stock crashes or it's a homerun. I'm man enough to wait.

I'm holding. That means that either losing everything if the end-April letter is BS or scoring big time.

Maybe I'm particularly dumb, but why is that a reason for increasing A/S?

That's a good point. I'm holding but will try again to contact the management to ask them.

Yes but what if the company does not "scam"...the business is legitimate but shareholders are treated like a piggybank: when expenses are too high, sell more shares than wash, rinse, and repeat. This way neither west bend nor the kids are affected, only us :).

April 15 to 19. Info confirmed: http://fp25.a2zinc.net/clients/fpaim/nhsa2007/public/fphtml.aspx

Not so sure...Nevada law makes it much easier for them (the board of directors) to do stuff without shareholder approval. I was surprised to see that they don't need shareholder approval to increase S/O.

What worries me is that one of the premises I had for buying it was no more dilution. Not so sure about that part now, so I'm nervous. Obviously not the only nervous one, as the volume picked up significantly.

By any chance, do you have an idea how much his inner circle has?

I thought HE only had about 58 k shares?

But why would Alex worry so much about OUR money?

Holy shit....

Previous Stock Value: Par Value Shares: 800,000,000 Value: $ 0.001 No Par Value Shares: 0 ----------------------------------------------------------------- Total Authorized Capital: $ 800,000.00 New Stock Value: Par Value Shares: 2,000,000,000 Value: $ 0.001 Par Value Shares: 100,000 Value: $ 0.001 No Par Value Shares: 0 ----------------------------------------------------------------- Total Authorized Capital: $ 2,000,100.00

This time, it looks like they have 2 classes of shares: 2 B shares of a certain class + 100 K shares of another class. Hmm...

Maybe someone should ask the management....I'm never able to get in touch with them.

------------
Regardless, this is another company with actual products, distribution and agreements with more than credible companies with long histories and excellent, hard won, reputations they would not want to damage by hooking up with a company with no future. Also IMO, what we are seeing is folks with experience taking advantage of small start-up companies when the common delays occur as these delays do with many small start-ups.
This is why it is so important to pick a company with a real, useful, necessary, quality, currently in production/distribution and unique product is so important. Companies like this will eventually do well since there is already a demand for the product which in all likelihood will only grow. Again, IMO, we have chosen such a company.
-------------
Exactly. That's the main reason why I bought ATWT.

https://esos.state.nv.us/SOSServices/AnonymousAccess/CorpSearch/CorpDetails.aspx?lx8nvq=r%252fx5Sbh8mh6WnUFZSArx2A%253d%253d

A/S is 800 M, O/S is 750 M and they have cash and revenue.

Scepticism is encouraging but posting false information is not.

No that's the regulation D offering they did in October and filed on 2006-11-13. Old news.

>good luck, your going to need it.

Why, is there something wrong with ATWT that you just learned about?

--------
think we will see another issue of 504 sooner rather than latter. probably comes in after a release of audited financials or a couple memoarable contracts. Most likely tied to a merger of a like company we fit. Just speculating. I still like hanging out hear when the karma is good.
----------
Didn't Alex have 600 k of cash in hand? And with the increased revenue, I don't think he'll have to dilute. A cornerstone premise of my investment in ATWT is that there will be no further dilution.

Go see the yahoo board instead.

.
Hey guys if you think the company and the CEO are genuine, why are you worried about the lack of PR? If the company is indeed genuine and the PPS goes up tenfold, would it really bother you if it took say 3 months to reach that level?

Did he say how much he intends to pay himself & other employees? Did he speak about S/O?

Hi Brendan.

I won't put much weight in buyout rumors. But you said you attended the shareholders meeting....did Alex or someone else said something relevant (updates, plans, etc)?

How come he didn't reply to me than?

Yep I can no longer PM....trial expired :(. And sorry for the delay.

As far as the SEC links go. I went to http://www.sec.gov/info/edgar/ofis.shtml#access

They had an email: publicinfo@sec.gov to request those. If you live in Washington, you can also go to the SEC public reference room by yourself.

I sent them an email and got contacted from someone from Thomson Financial. I than asked him how many documents and pages are included. He said 2 documents and 20 pages. SORRY I SAID 24 BUT IT'S ACTUALLY 20. I haven't confirmed the order yet(see below why).

>Would checking with the SOS possibly be worth while? What do you think?
Frankly, I am not sure. We have their latest regulation D available already. I don't know if they had their first regulation D available as well. The only thing is that the regulation D form is 9 pages, and 9*2 = 18, and they have 20 pages total. So it makes me wonder what do the other 2 pages contain.

>if the filings you refer to are the ones on the home page in part or total, rest assured, they have been read, re-read and digested.

Do you know than what's the price per share Atwec got paid during the second regulation D? And during the first?

Also, ATWEC went public at 1 $ per share, though they don't say how many shares were sold. http://www.bizjournals.com/memphis/stories/2003/11/10/story8.html

I have virtually no doubts that the business itself and the product are legitimate. What I am trying to determined is whether Wiley will use us as a piggybank: pay himself egregious salaries (say they sell for 500 k and he pays himself 400 k salary) and than dilute us to oblivion.

GLTY and TIA

P.S. To open the document, if the direct link does not work, go to http://www.atwec.com/
On your left, you'll see blue pushbuttons with white text that turn red once your mouse is over the button, click on the one that says "Downloads" (should bring you to http://www.atwec.com/pressrelease.php ).

Under the white heading "Documents"(third from the top, after "Press releases" and "Video News Articles", there should be a link saying "Form D". It's a pdf file whose direct link is http://www.atwec.com/upload/1717986586atwec_06.pdf

You have a table on page 7, which says "Appendix". Scroll down a bit and you'll see there's 1 accredited investor who bought 809 k $ worth of Atwec.

Hi Nez,

1)"BB sites and your past posts seem to indicate you lean heavily on the "extremely accurate, up to date and un-biased information from, of all places, the RB site. Man I gave up on that one a while ago."

That's the best I can get, as there is no better source that I am aware of. Plus, if the numbers did not accurately reflect the information as it appeared on the ATWEC site(http://www.stockinformationsystems.com/c/ATWT/investors.html , on the right), I am sure that some other poster would have called bullshit on those numbers. I don't take everything on BBs for granted, but I consider it as a useful source of information and insight.

2)"If so, maybe it's a good idea to ask the SEC for a copy of those documents. Maybe in light of your great concern you should follow your own advice. "

Well guess what - I DID go forward and inquire. The document orders are handled by Thomson Financial. They told me there are two documents, containing a total of 24 pages - I guess that those are the two regulation D's but I'm curious about how do they come up to 24 pages since a regulation D is 9 pages - and that therefore, they haven't filed anything else prior to diluting with the sec (N.B. it's legal...I found that section 4(2) of the Securities Act allows to issue stock without filing anything with the sec). I haven't confirmed my order yet though...still to come.

I'm not sure that I understand your third paragraph correctly, but to the best of my understanding, you want to know where I got my info about the recent 504 filing. You go to http://www.atwec.com/pressrelease.php
Under the white heading "Documents", there should be a link saying "Form D". It's a pdf file whose direct link is http://www.atwec.com/upload/1717986586atwec_06.pdf

You have a table on page 7, which says "Appendix". Scroll down a bit and you'll see there's 1 accredited investor who bought 809 k $ worth of Atwec.

My behaviour is only partly altruistic, as I am only willing to post my insights/info because I have learned something from insight /info of other posters (including you).

Speaking of this, are you not concerned about the delays in auditing? They recently said they only did half the audit - and before they said it shall be done by end of February. And the audit commenced on August the second. Do you think that 9 months to audit is reasonable for such a small company? Seems suspicious to me!

My posts might have a negative undertone because I am talking about the concerns that I have and want cleared. For instance, I am worried about the audit and about the shareholders who could potentially be used as piggybanks to pay Alex Wiley's salary & expenses (see what I wrote about ETIM). However, I am not worried at all that their product is legitimate and has potential.

Last regulation D offering.

Hi everyone, the last regulation D offering says (on p. 7 and p. 8 out of 9) that there was 1 investor in Minnesota who bought 809 k worth of ATWT common stock and 2 investors in Texas who bought 191 k $ worth of stock.

Does anyone know, by any chance,
1)Who are those investors (particularly the big Minnesota one)?
2)What is the offering price? Form D does not disclose that.

Thanks in advance to all.

To Nez.

Thanks for the interesting posts. Looks like I was wrong to assume ATWT goes up with every news.

You seem to have an issue with me being "born" only recently. Well guess what everyone has to start somewhere. Also, I think my posts outlined a legitimate concern (especially when compared to masterpieces such as "da stock will go to da moon"), i.e. ad nauseam dilution to finance exec paychecks. I am long in TOPT, so I know all too well how an incompetent AND/OR overpaid CEO can jeopardize a company with great potential. Essentially, I am trying to determine whether this Alex Wiley dude is a)competent and b)bona fide. And I don't care that he goes to church - religion is no proof of virtue.

I did some research and here's the history of the S/O:

S/O History

March 31 2006

By: tips4u1
31 Mar 2006, 11:46 PM EST
Msg. 31 of 33
Jump to msg. #
share information
Authorized 100,000,000
outstanding 92,547,021
144 restricted 58,147,021 [note: original message says 85 m ]
In float 34,400,000
Updated by CEO on 3/14/06

Source http://www.investorshub.com/boards/read_msg.asp?message_id=10638938

May 13, 2006

To reece3ga - You will find the information under:
www.stockinformationsystems.com
Click on Investor Relations
Under Stock Information you will find:
Authorized 200,000,000 Million
Outstanding - 155,547,021
144 Restricted - 58,147,021
In Float - 107,400,000

Source: Raging bull post 72

13 Jul 2006

Authorized 500,000,000
Outstanding 300,829,828
144 Restricted 58,147,021
In Float 242,682,807

Updated by CEO on 6/22/06

Source : Raging bull post 133

26 Jul 2006

Outstanding-420 million
Cash in bank-400 thousand
no more selling until pps is greatly increased. Greatly increased.
Insurance deal is done. Approx 7 days but we know how that is.
Moving to new pinks
Audit also being done.
Manufacturing facility in Mobile Al.

Source: Raging bull post 169

30 Aug 2006

Updated Share Count by CEO on 8/29/06
Authorized 800,000,000
Outstanding 590,073,828
144 Restricted 58,147,021
In Float 511,726,807

Source: Raging bull post 281

10 October 06

cin_bado - I phoned the number you suggested
and they would not give any information to shareholders unless the Corporation contacted them with special instructions to allow them to do so but for your information the exact number of common shares outstanding for ATWT is 750,978,643.

Source: Raging bull post 357

Assuming this info is true, it means that:
1)ATWT issued 63 million shares between March 14 2006 and May 8th 2006 [see raging bull post 74].
2)ATWT issued 145,282,807 shares between May 9th and June 22nd 2006.
3)ATWT issued close to 120 m shares between June 23 and July 26th.
4)ATWT issued close to 170 m shares between July 27th and August 29th.
5)ATWT issued 239,251,836 shares between August 30th and October 10, 06.

There are some positives and negatives here:

POSITIVES:
1)ATWT did not dilute since October 2006(and according to their PRs this is when their
business really started rolling);
2)According to http://www.investorshub.com/boards/read_msg.asp?message_id=10640202 (unaudited financial statements),
they did not waste a lot of money on "meals & entertainment" & travel (unlike ETIM).
3)They had a negative stockholder's equity (which might explain why they had to dilute instead of borrowing).
4)They had loans from officers 66,861.88
5)Average daily volume has not been increasing despite the dilution. That might mean that major holders tend to keep their shares instead of dumping them on us(note however the significant volume on 7,8,and 9 of August 2006).

NEGATIVES:
1)They did at least five dilutions and the sec filings only contain two regulation D forms,
both of which are on paper.
2)Balance sheet shows liabilities: CEO Compensation 253,543.47 Hmmm....seems like a lot of bling to me. Although I don't know how many months of salary does this represent, so it might not be such a big deal.

Incidentally, their regulation D filing mentions only 30 k going to officers & directors as fees.

MY QUESTIONS:
1)How many employees does ATWEC have?
2)Unaudited financial statements say: Wages Expense 9,130.00 16.27 41,530.00 28.23,
Salaries Expense 23,100.00 41.16 102,269.40 69.51

What's the difference between wages and salaries?

3)Do they have to file something with the SEC every time they issue stock (even if they are exempted from registration)?
If so, maybe it's a good idea to ask the SEC for a copy of those documents.

News from ATWEC

http://www.pinksheets.com/quote/news.jsp?url=fis_story.asp%3Ftextpath%3DCOMTEX%5Ciw%5C2007%5C02%5C21....

The "good" news is that they have attended another conference to present their products.

The "bad" news is this: "In other developments, ATWEC's local accountants have completed the first half of the financials to be reviewed by the Rochester accountants." It's suspicious since I remember them saying, on December 17, 2006, they have completed their financials up to 2003:

ATWEC Technologies (PINKSHEETS: ATWT) today informed shareholders that the audit of the company's financials for the years 2001 to 2003 has been completed by a Memphis accounting firm and is now under review by Rotenberg and Company of Rochester, New York. The local audit of 2004 and 2006 financials will begin this week with a target completion date of February 2007.

If they completed 2001, 2002, and 2003 and still had to do 2004, 2005, and 2006, how can they now (February 21st) claim that they did half of FINANCIALS(unless we assume they did about half of the required WORK - assuming the work required on each financial statement increases with time)?

This also means that - even assuming they're bona fide - they won't announce that they have completed the audit any time soon. So I can fish for price (assuming I decide to go long).

BooDog: Thanks, I did review some of the older posts and checked out the Raging Bull Board...most of the messages were bickering amongst posters. And we have 30 k messages here and only 700 on RB - so no wonder I don't get through all messages on IHub.

Gempicker: Yes, most Pink sheets stocks fail and that's why I would rather be more anal than less. Incidentally, I DO believe that their product is very promising. I had some doubts as to the good faith of the officers and the shares outstanding dilution.

Nez: thanks for the Nevada comment. I am not basing my investment solely on info from BB. Incidentally, I tend to post links to sources whenever I post info so you can verify by yourself. I'm not sure what you mean by "Would provide the information they ask for if they already posted similar information but from another date. The source point for the posted information should have the same type of information but with other dates, no?"

If my profile does not seem legit to you, I have already posted on several yahoo boards: TOPT, CHCI, DHI, DHOM, and several others. So you can check for yourself.

I am still doing my DD as of now...haven't reached a conclusion yet.

Continuing my previous post.

First of all, thanks for answering my post. Special thanks to BooDog for providing that link: https://esos.state.nv.us/SOSServices/AnonymousAccess/CorpSearch/corpActions.aspx?lx8nvq=r%252fx5Sbh8mh6WnUFZSArx2A%253d%253d&CorpName=ATWEC+TECHNOLOGIES%2c+INC.

I currently hold no stock in ATWT - which makes sense because I'm supposed to do my DD BEFORE I get in, right? I am interested to buy though and I'm not a day trader. I am interested in long-term prospects of ATWT.

Also, while I can be patient, faith is not my cup of tea. Not when it comes down to money.

I have numerous questions with respect to ATWT so I'd rather not tackle them all at once though(you'll see that my post is lengthy enough). Let's start with those:

A - ATWEC'S CAPITAL STRUCTURE

1. ATWEC is a Tennessee corporation. Why is it registered with the NEVADA secretary of state?

2. Sec filings mention only two regulation D offerings:
http://www.sec.gov/cgi-bin/browse-edgar?company=atwec&CIK=&filenum=&State=&SIC=&...

But the Nevada site mentions four amendments that increase the number of shares authorized:

File date: 08/03/2006
Previous Stock Value: Par Value Shares: 500,000,000 Value: $ 0.001 No Par Value Shares: 0 ----------------------------------------------------------------- Total Authorized Capital: $ 500,000.00 New Stock Value: Par Value Shares: 800,000,000 Value: $ 0.001 No Par Value Shares: 0 ----------------------------------------------------------------- Total Authorized Capital: $ 800,000.00

File date: 05/22/2006
Previous Stock Value: Par Value Shares: 200,000,000 Value: $ 0.001 No Par Value Shares: 0 ----------------------------------------------------------------- Total Authorized Capital: $ 200,000.00 New Stock Value: Par Value Shares: 500,000,000 Value: $ 0.001 No Par Value Shares: 0 ----------------------------------------------------------------- Total Authorized Capital: $ 500,000.00

File date: 04/03/2006
Previous Stock Value: Par Value Shares: 100,000,000 Value: $ 0.001 No Par Value Shares: 0 ----------------------------------------------------------------- Total Authorized Capital: $ 100,000.00 New Stock Value: Par Value Shares: 200,000,000 Value: $ 0.001 No Par Value Shares: 0 ----------------------------------------------------------------- Total Authorized Capital: $ 200,000.00

File date: 10/13/2005
Previous Stock Value: Par Value Shares: 50,000,000 Value: $ 0.001 No Par Value Shares: 0 ----------------------------------------------------------------- Total Authorized Capital: $ 50,000.00 New Stock Value: Par Value Shares: 100,000,000 Value: $ 0.001 No Par Value Shares: 0 ----------------------------------------------------------------- Total Authorized Capital: $ 100,000.00

2a)Why did they feel compelled to file four amendments to their articles when they only did two regulation D offerings (and their first Nevada amendment is dated 10/13/05, AFTER the first offering so it looks like those amendments pertain only to the second offering)?

2b)Why did they chose to have a huge dilution instead of using a revolving credit line for expenses?

2c)Why didn't they disclose the terms of the offering?

B - CORPORATE COSTS OR WHY AM I COMPARING WITH ETIM?

My fear is that stockholders will be used as a piggybank. The company might even end up making money on their products, but this money will go for corporate expenses, particularly executive compensation, and travel expenses and at the end of the day, even if revenue grows significantly, shareholders will receive nothing because of:
1)Huge S/O and continuous dilution;
2)Big corporate expenses.

My comparison with ETIM illustrates those points, particularly point #2. They have 536,464.11 $ of quarterly expenses, 58 k in revenues and 31 k in COGS (gross margin of 46.5%). Assuming their expenses do not increase with their revenue(a doubtful assumption per se), they will have to post a 1,153,686 $ revenue JUST TO BREAK EVEN. That's close to 20 times their current revenue.

ETIM has a stockholder's equity of 356,563.30 - less than its quarterly loss! No wonder they had to dilute with a regulation D! The stock price quadrupled after they hinted they anticipate no more dilution but guess what, unless they manage to either cut their expenses dramatically or increase their revenues 20-fold in the coming quarter(yes, one quarter), there's more of those regulation D's coming!

Coming back to ATWT, I have similar concerns. For instance, how much does Wiley pay to himself? Does he own stock of ATWT? If so, how much? If not, why? How much does he spend when he travels to Louisiana or Wisconsin or Arkansas? Will we see another 7000 $ quarterly spending for "meals & entertainment" and 60k $ for "payroll expenses"? Does he drive a brand-new Ferrari Testarosa to the conferences(paying for it with corporate money)? Does he stay in Five-Star Hotels (paying for it with corporate money)? And why would he feel compelled to sponsor a golfer?

3. CONCLUSION

I think that small, regulation D companies with no regulatory oversight are the ones that are the most prone to scam schemes. Thus, I think the burden of proof it on Wiley & Co to show that they are bona fide. Certainly not on (potential) investors to have faith in him.

ATWT looks interesting as a speculative play because it goes up on every piece of news. However, it remains to be seen whether ATWT is actually a good INVESTMENT in the long run(personally I haven't reached a conclusion yet with respect to this point).

Questions about ATWT from a first-time poster - TIA

I am a new poster and have some concerns with respect to ATWT.

Based on their october 24 2006 PR, they expect 1.5 m revenue for 2007 (did not specify whether this included the security cameras division). They expect a 30-40 % margin (according to the last conference call they did ), but they didn't specify whether it's gross margin or net margin. If the 30-40% is gross margin (as I expect it is), will we end up with any profits at all in the bottom line or will they have egregious expenses like ETIM which spent almost 7000 $ on "meals & entertainment" in a quarter (with a revenue of 60000 $)? Will they pay excessive executive compensation? ETIM paid wages of 67000 (and they only have 5 employees all of which are execs to the best of my knowledge) - more than REVENUE!

In short, I am concerned about just how trustworthy the company management team is. They did a lot of dilution (their IPO in 2003 was for 1$ / share), and although I think the company per se is legit and the market for the products is there, I wonder whether shareholders will reap any reward...or else the execs will be paying themselves excessive salaries and than dilute further by 1 m $ of stock every year to raise more cash.

Once again, thanks in advance to all those who provide an intelligent answer.

P.S. Moderators, please don't construe me mentioning ETIM as a TOU violation. I used it as a means of comparison only in order to illustrate a point.