Posted by: Stock Mogul In reply to: liable who wrote msg# 89123 Date:10/1/2006 10:08:41 AM Post #of 89209
HAHA...that was copied and pasted DIRECTLY from the 8-K. LOL
Posted by: Stock Mogul In reply to: None Date:10/1/2006 9:54:08 AM Post #of 89127
From the 8-K:
"The Merger facilitates $803,149,146 in booked assets and shareholder equity. Initial estimates places the company combined financial structure and per share book value at $7.21."
On March 15, 2006, the Company acquired full ownership of Global Bonds issued through the Republic of Venezuela with an issuance date of July 31, 1998 and a maturity date of August 15, 2018. The principal amount of the bonds is $500,000,000 USD with a fixed interest rate of 13.625%, computed on a semi-annual basis. The applicable identification codes are as follows: Common Code - 008975540; CUSIP - 922646AT1; & ISIN Code - US922646AT10. The first interest payment is due on August 8, 2006, in which interest receivable and revenue have been properly accrued, to the holders of the bonds (the Company).
The applicable Declaration Statement (ownership documentation) specifies the transfer of full ownership to the Company from Banco Central De Venezuela, the issuer of the bonds, and insures that the bonds are free and clear of any deductions, charges or fees assessed by the Government of Venezuela. The Certificate of Ownership also identifies the Company as the sole owner, with an effective date of ownership as of March 15, 2006. The ownership documentation has been properly recorded with the State of Georgia securing and perfecting the bonds.
The Fitch Bonds Ratings as of May 2006 gives the bonds a BB- rating. The bonds have been registered with the National Securities Commission in Caracas, Venezuela, as well as loaded and registered in the Euroclear Band Securities database, accessible electronically with proper identification codes.
The company entered into a Global Trust Funding Agreement (the agreement), #252455770-03142006, executed on March 17, 2006 as a result of the acquisition of the bonds. The agreement includes a required payment of administrative fees of $400,000 which as of June 30, 2006 had not been paid and therefore, has been recorded as a liability on the balance sheet.
Posted by: mrpropick In reply to: beachcracker who wrote msg# 86517 Date:9/28/2006 11:24:35 PM Post #of 86555
IN RUFUS' words;;; those who missed out on microsoft and google have a 3rd chance with cshd, all time volume tomorrow, wouldn't be surprised to see this run like a google all the way up to $400 per share after the reset, hhhmmm, do i sense more bonds on the way after the reset, never know do we rufus?
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
The Board of Directors and Stockholders of Conversion Solutions Holdings Corp.
We have audited the accompanying balance sheet of Conversion Solutions Holdings Corp. as of June 30, 2006 and the related statements of operations, and stockholders' equity (deficit) and cash flows, for the year ended June 30, 2006. These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on these financial statements based on our audits.
We conducted our audit in accordance with the auditing standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. We were not engaged to perform an audit of internal control over financial reporting. Our audits include consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control over financial reporting. Accordingly, we express no such opinion.
An audit includes examining, on a test basis, evidence supporting the amounts and disclosure in the financial statements, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.
In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Conversion Solutions Holdings Corp. as of June 30, 2006 and the results of its operations and its cash flows for the year ended June 30, 2006 in conformity with accounting principles generally accepted in the United States of America.
8-K 1 cshd8k_092506.htm DEF AGREE 08/26/06 SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
September 25, 2006 --------------------------------- Date of Report (Date of Earliest Event Reported)
Conversion Solutions Holdings Corp. ------------------------------------------------------ (Exact Name of Registrant as Specified in its Charter)
125 Town Park Drive Suite 300 Kennesaw, GA 30144 --------------------------------------------------------------------------------------------------- (Address of principal executive offices)
(770) 420-8270 -------------------------------------------------------------------------- (Registrant's telephone number, including area code)
N/A ------------------------------------------------------------------------------ (Former name and former address, if changed since last report)
Delaware 000-13910 43-2109079
--------------- ------------ -------------------
(State or other jurisdiction of (Commission (I.R.S. Employer
Item 1.01 Entry into a Material Definitive Agreement
The Board of Directors has approved a contract extension with the Caracas Group and accepted into its Asset Management Portfolio an additional 5 Billion Euro denominated Global, Bonds on the Republic of Venezuela with an 11% annual coupon.
The bond has been loaded in the Euroclear system with the following codes:
ISIN: DE0006106875
Common Code: 012481241
Item 9.01 Financial Statements and Exhibits
(d) Exhibits:
10.1 Press Release September 25, 2006
Date: September 25, 2006 Conversion Solutions Holdings Corp.
Conversion Solutions announces 5 billion Euro addition to Asset Management Portfolio
KENNESAW, Ga., September 25, 2006 -- Conversion Solutions Holdings Corp (OTC BB: CSHD), a Delaware Corporation announces the following current events have taken place.
CVSU would like to announce an additional 5 Billion Euro denominated Global, Bonds on the Republic of Venezuela with a 11% annual coupon; has been added to the companies Asset Management Portfolio. The bond has been loaded in the Euroclear system with the following codes:
ISIN: DE0006106875
Common Code: 012481241
About Conversion Solutions Holdings Corp
CSHD is a diversified holdings corporation, which was formed to originate, fund and source funding for asset-based transactions in the private market. CSHD's main service will be to acquire, fund and provide insurance to target companies in the currently underserved $15,000,000 to $100,000,000 asset finance market. Our funding will enable our businesses to compete more effectively, improve operations and increase value. CSHD is headquartered in Kennesaw, Georgia, a suburb of Atlanta. For more information, please visit us at (www,cvsu,us).
Slayton: Why, both, of course. After all, isn't that the basic reason for investing in anything? Don't bother answering that. We all know the answer is "YES"!
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