Replies to post #50041 on Conversion Solutions Holdings (fka CSHD)

[bluediamonds]

MAX 4 DAYS to new 8-K or 10-K by Phil on HSM?

FWIW:

Today, 01:03 PM #2048
phil
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Join Date: Mar 2006
Posts: 7,433

QUOTE=kaponeMCD, I agree maybe that is what they want. But the point I was trying to make was, wouldn't they have a set of more "heavy/institutional investors" if they already opened at $15 and then said, "we just brought another half a billion to the kitty", instead of penny investors like us??
It's been stated that they already have institutionals waiting. If so, you know they already know about this stuff.

As far as the delay and maybe them wanting to have this in the 10K, sure, that could be an option, but if you look at their 8K:
"Their fiscal year ends on June 30th. Even if they acquired these extra half a billion dollars last week, these assets cannot be on the 10K that is due. It will have to be on the next 10K for the fiscal year ending June 30th, 2007.
fhals fiscal year ended june 30. That was before cvsu agreed with them to merge. In the 8-k the new fiscal year has been reset to dec. 31. No debating on my part just clarification.

So for arguments sake, lets say they cant put the new bond in the 10-k's asset column as it happened after the end of the year. It does however require an 8-k within 4 days of happening so....

I imagine they will file the s-4 registering the shares and allowing them to choose the pps options, the 10-k supporting the $7.21 book (the $7.21 justification may also come from another separate 8-k), and the 8-k for the new bond that will also support the new $12 book all in "one swift action". And I'll bet this will happen very soon because they only have 4 days.

http://www.hotstockmarket.com/forums/showthread.php?t=41282&page=205

Today, 12:38 PM #2035
guitarmusic
HSM Enthusiast

Join Date: Jul 2006
Posts: 918
Quote:
Originally Posted by PenETrader
I believe in the last interview Rufus said the delay is not being caused by CSHD. It was in the hands of the reg's. We were or are still waiting for the DTC, no? Or did I miss something.

Word from some, besides what U mentioned, is they pulled from filing because of the new Bond Developments

http://www.hotstockmarket.com/forums/showthread.php?t=41282&page=204

Today, 12:42 PM #2038
phil
HSM Addict

Join Date: Mar 2006
Posts: 7,433
Quote:
Originally Posted by guitarmusic

Word from some, besides what U mentioned, is they pulled from filing because of the new Bond Developments

--------------
I heard that from several people too. No clue if that is the case but supposedly they had filed last thurs. and pulled it at the last minute.

http://www.hotstockmarket.com/forums/showthread.php?t=41282&page=204

Today, 12:34 PM #2031
dgambar8
HSM Enthusiast

Join Date: May 2006
Posts: 605
Quote:

Originally Posted by niceguytom10

i've been doing some searching on resetting the price of a stock and have been unable to find any good info.

i was wondering if any of you could find some.

i was all for the price reset when we were fhal, but i'm not even sure anymore if we can have a reset, since all the shares have been converted.

i can't find any info on previous stocks doing this or anything on how a company would do this.

-----------------

Also, helps to go read about similar situations. http://www.shellstockreview.com/ssr-Home.html Not sure if you've been there. Also, I remember Rufus giving that link in that first interview. I just don't know the link.
__________________
"If this goes to 15 bucks I'm gonna be happy....If it doesnt I'm still gonna be happy....Cause I got God, family, and friends."

http://www.hotstockmarket.com/forums/showthread.php?t=41282&page=204

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http://www.shellstockreview.com/ssr-Home.html

[bluediamonds]

Sarbanes-Oxley Act & CSHD

FWIW:

Today, 11:03 AM #2008
HititUP
HSM Addict




Join Date: Mar 2006
Location: Chicago
Posts: 1,108
Quote:
Originally Posted by bluediamonds
where information must be filed in advance with regulatory authorities after approval of securities counsel and auditors. This is not only good business practice, but it is mandated under Sarbanes-Oxley and the rules of the SEC."




That's interesting from what I read they must fall under these standards aswell. A "scam" would have been shut down instatly and with HEAVY jail time.

The Sarbanes-Oxley Act's major provisions include:

* Creation of the Public Company Accounting Oversight Board (PCAOB)

* A requirement that public companies evaluate and disclose the
effectiveness of their internal controls as they relate to financial reporting, and that independent auditors for such companies "attest" (i.e., agree, or qualify) to such disclosure

* Certification of financial reports by chief executive officers and chief financial officers

* Auditor independence, including outright bans on certain types of work for audit clients and pre-certification by the company's Audit Committee of all other non-audit work

* A requirement that companies listed on stock exchanges have fully independent audit committees that oversee the relationship between the company and its auditor

* Ban on most personal loans to any executive officer or director

* Accelerated reporting of trades by insiders

* Prohibition on insider trades during pension fund blackout periods

* Additional disclosure

* Enhanced criminal and civil penalties for violations of securities law

* Significantly longer maximum jail sentences and larger fines for corporate executives who knowingly and willfully misstate financial statements, although maximum sentences are largely irrelevant because judges generally follow the Federal Sentencing Guidelines in setting actual sentences

http://en.wikipedia.org/wiki/Sarbanes-Oxley_Act

The Sarbanes-Oxley Act of 2002 (Pub. L. No. 107-204, 116 Stat. 745, also known as the Public Company Accounting Reform and Investor Protection Act of 2002 and commonly called SOX or SarbOx; July 30, 2002) is a United States federal law passed in response to a number of major corporate and accounting scandals including those affecting Enron, Tyco International, and WorldCom (now MCI).

*** If they are complient with SOX, here is a time line:


Year One Resources Spent on Section 404 Compliance

Company Revenue < $5B $5B - $10B $10B – $50B > $50B

Average Additional
Audit Hours [6,285] [20,756] [11,540] [19,000]

Average Total
Compliance Cost (millions) [$1.9] [$6.1] [$20.6] [$1230.3]

http://www.hotstockmarket.com/forums/showthread.php?t=41282&page=201

-----------------

CSHD's CFO "an Associate Member of the Certified Fraud Examiners and as a Certified Internal Auditor"

Posted by: thehavenots
In reply to: liable who wrote msg# 48113 Date:8/19/2006 11:54:58 AM
Post #of 48124

CVSU's CFO:

"an Associate Member of the Certified Fraud Examiners and as a Certified Internal Auditor"

Darryl Horton, CPA - Chief Financial Officer
Mr. Horton is a graduate of Accounting (cum laude) from Michigan State University and has an array of experiences that include fifteen years working as an executive with the State of Michigan. Mr. Horton has served State Government as Director of Internal Audits and he is currently the Director of the Division of Licensing & Certification, which is responsible for the monitoring and regulation of all of the state's hospitals and health facilities.

Darryl Horton has earned invaluable experience as a Certified Public Accountant for over fourteen years and as Founder and CEO of Horton & Associates, a public accounting firm specializing in corporate tax planning. As an Associate Member of the Certified Fraud Examiners and as a Certified Internal Auditor, Mr. Horton has developed and monitored budgets in excess of 250 million USD, focusing on analysis of internal controls and utilizing risk assessment tools for various organizations in both the private and public industry sectors.

Mr. Horton is a highly respected member of his community who serves as Audit Chair for the local chapter of the American Red Cross; he is a member of the National Association of Accountants and the Institute of Internal Auditors, in addition to participating on the boards of several other organizations and charities.

As Chief Financial Officer, Mr. Horton will provide corporate leadership by directing treasury activities and with coordination of budget programs. He will assess the financial impact of functional initiatives and generate creative solutions. Mr. Horton will formulate and optimize the capital and tax strategy of the company and will be responsible for financial reporting by developing objectives for establishing a reporting system with controls and safeguards to protect company assets.

http://www.investorshub.com/boards/read_msg.asp?message_id=12777494