AquaCell Technologies Inc fka AQUA

[skitters]

Well now I see Damage Control AQUA AQWT

After Digging more into the stocks SEC filings
you will find the following quirks of information.

James Witham(CEO) owns Shares of both and so does his wife
Karen Lausten(Witham)(PRES), Making them the Major Share Holders.

Also each member of the board has shares of Each. Now somehow they voted back July 19, 2006 to spin off AquaCell Water, but AquaCell water filed July 11, 2006, so a spin off before they voted? also somehow 16+ Million votes were cast, but the board only owns 4.6+ Million shares combined, somewhere there's a typo.

but the real kicker is:November 01, 2006
"Water Cooler ex-CFO Found Guilty of Lies
Prosecutors reportedly accused the finance chief of failing to tell auditors that proceeds of a $1.75 Million loan to an investor were being used to buy shares in AquaCell's IPO."
http://www.cfo.com/article.cfm/8103800?f=related

can we say really inside pump and dump outside...

and leave it to the judge to say:
The 68-year-old executive will face up to 10 years in prison when he is sentenced on Jan. 26. 2007

and leave it to the lawyers to say:
"Peter Driscoll, his lawyer","under federal sentencing guidelines would be 10 months to 16 months in prison"

boy!, with sentences like this for $1.75 Million, I would do the crime and be willing to do the time, in Fed prison no doubt and keep the money, imo.

Now he still owns 500+K of AQUA and Just as much AQWT.
He is allowed to exercise this at .10 and .125, actually if I read it right, all of the board members are allowed to execise it at that price range since 02-23-06.
No wonder this stock keeps tanking at .10 recently, or maybe its the 75 Million shares.

Maybe all this bad news is the reason for the spin-off, but then why keep the name "AquaCell" still ? who knows?

according to the files, 3 Persons, not named, get a 5 year contract of payment of $284K Minimum anually and they get $366K Minimum anually from the other company.

The 3 main share founders are
James Witham(CEO), Karen Lausten(Whitham)(PRES), and Gary S. Wolff (CFO)

I think we should incorporate and get listed like a Pinky
then get all this pay and money for a negative cash flow company, then do PRs that say we might merge or we might aquire, in my opinion.

I can only recommend you buy this at the lows,(very lows) and wait for the PRs and sell before .10 or at .10, that way you might make some money on this stock.

It looks like they are going to fold this AQUA and go with the AQWT version, since both have pendings but the CFO was in charge of both companies. so they will be doing alot of damage control for the early part of 2007, imo.

The reason AQWT is better, new and doesn't have a bad track record to follow, imo.

So here's to the new year! Damage Control for AQUA and AQWT
may we buy low and sell high (.10) lol