1812 Brewing Company Inc (KEGS)

[Ineedmoreshares]

Re: Stillwater

There was a post on this board last week which linked to a financial news article. (Link is below)


At the bottom of the article was a comment from Jack Doueck of Stillwater Capital listing criteria for a solid investment opportunity. The criteria, which I've copied below, appear to encompass everything which is good about Seaway.

But in the interest of being objective, I'm a bit curious about the change in language between the August 2nd PR and the Sept 18th PR as they pertain to financing the Hackets deal.

The August 2nd PR announces an offer from Stillwater and it was Stillwater's involvement which was the final factor in my decision to buy and support SWVC. Not the only factor, but the comments by Doueck (copied below) make for sound investment strategy and since the Aug 2nd PR showed Stillwater putting that strategy in effect as to financing Seaway's purchase of Hackets, I also invested in SWVC.

So SWVC announces on Aug 2nd that they have the funds to close the Hackets deal with financing from Stillwater. But then the Sept 18 PR states again that they have received a "commitment" for financing for the Hackets deal but they don't mention Stillwater. Instead they say that Wisebuys will sell "non strategic assets".

So, my question: Is Stillwater still involved?

Below are Jack Doueck's comments from the article linked to below:

"Dear Carl, Like your musings on discount electronic retailers, I was also exploring other financial thoughts and came across Benjamin Graham’s principles, and I think they apply to all aspects of investing, even in foreign stocks. Here are seven of his principles on buying stocks that I believe are worth hearing sharing:

1. The companies should be soundly managed.

2. The companies have demonstrated earning capacity with a likelihood that this will continue.

3. The companies should have consistently high returns.

4. The companies should have a prudent approach to debt.

5. The businesses of the companies should be simple and investors should have an understanding of the companies.

6. Assuming that all these thresholds are satisfied, the investment should only be made at a reasonable price, with a margin of safety.

These principles align with our ideals at Stillwater Capital of providing the potential for clients to preserve and grow their capital using a risk-controlled approach to investing.

Thanks for listening! -- Jack Doueck

Jack Doueck
Stillwater Asset Backed Strategies
Stillwater Capital "

http://seekingalpha.com/article/20069-discount-electronics-retailers-led-by-wal-mart-launch-first-ch....