to what end? EXTO is one of the very few pinks out there with a completely ungagged T/A...no share structure change...You are trying way too hard alabama96...lol
EXTO - thanks for bringing this company to my attention. I didn't have much time to look at EXTO yet tonight, but the few minutes I spent on it so far have already brought up many questions and many concerning details about the company.
First of all the fact that they have done no filings of any kind for the last 7 quarters is very disturbing and is a huge red flag warning people to be extremely skeptical about anything claims the company makes in press releases. There is never any excuse for a company to avoid doing filings especially if they are claiming positive events, revenues, and strong business operations. A company with positive information to share should be eager to put that information in filings to build shareholder confidence and bring in more investors.
I only had the time tonight to briefly look at the last 4 press releases and take some notes. I do have a few questions/concerns that I'll put in this post, but I'm not really looking for you or anybody else to respond with answers - mostly just reminding myself what I want to research further tomorrow.
Exit Only, Inc. (PINKSHEETS: EXTO) today announced that it has acquired Bayport Corporation, a Nevada corporation. With this acquisition, Bayport Corporation has obtained the controlling interest in the company. James L. Porter will serve as the President while Louis Porter will serve as the CEO of the surviving company. The new name of the company will be filed with FINRA to be changed to Bayport Corporation along with requesting a new stock symbol. Bayport has hired legal counsel for organizing financial data to immediately prepare for becoming current within the OTC market exchange
The specifically said Nevada Business Entity.
Bayport Corporation is registered in both Nevada and Oklahoma
The Nevada business entity is new - just formed on March 1, 2011
Both have Louis Porter as the CEO. I imagine that the bulk of any assets that Bayport Corporation may own (including subsidiaries) which I haven't looked for yet will fall under the Oklahoma entity.
It could be that the Nevada entity was just formed for the sake of merging with Exit Only Inc and will remain a foreign entity registered in Nevada but domiciled in Oklahoma, but I just wanted to point out the wording of the press release. To be sure that all assets are being rolled into EXTO it probably should have said Bayport Corporation an Oklahoma business entity.
Its wholly-owned subsidiary, Cosmic American Rare Earth, Inc. (CARE), has secured a $50,000,000 Rare Earth IPO with Aegis Capital Corporation. Details will be announced in the future.
Cosmic American Rare Earth, Inc may have secured $50,000,000 of financing through Aegis Capital, but they have yet to do an SEC filing to begin to seek approval from the SEC to get the IPO. No IPO no money. There is absolutely no guarantee that they will succeed with an IPO and since they have yet to even being the filing process that part of the press release is very misleading and very concerning. This reminds me of the S-1 being said about Trans Atlantic Capital Group which I will get to later in this post.
Non-dilutive financing has been secured. Equipment has already been mobilized and put in place beginning its placer gold mining operations on July 10, 2011 of which all required state permits and approvals have previously been in place with the U.S. Department of the Interior Bureau of Land Management (BLM). These interests are also in Nevada, Utah, Colorado and Wyoming. When mining operations have been up and running for a while, the company would like to invite shareholders out to an open house to give all investors a chance to see the company's operations and to meet management.
Asssuming they need the financing to pay for the equipment, permitting, and other set up steps for their mining operations then this whole paragraph cannot be true since the IPO filing process hasn't even started yet.
Trans Atlantic Capital Group Commences S-1 Registration (in the title)
Another false statement. I checked and Trans Atlantic Group hasn't filed any S-1 with the SEC. Most disturbing of all is that press release came out over 2 months ago. A complete lie - very concerning.
Trans Atlantic Capital Group, Inc. achieved record revenue in excess of $15,000,000 for the first quarter of 2011 which is significantly greater than the company's $8,300,000 generated in 2010.
Trans Atlantic Capital Group, Inc was just formed as a Nevada business entity on 7/1/10:
There is absolutely no way that Trans Atlantic Capital Group, Inc had any where close to $8,300,000 in revenues in 2010. And I would bet anything they didn't have any where close to $15,000,000 in revenues for the first quarter of 2011. In fact I wouldn't be surprised if Trans Atlantic Capital Group has had very close to $0 in revenues for its entire existence. Since no S-1 will ever be filed for Trans Atlantic Capital Group I guess EXTO has no problem completely lying about the revenues of the brand new business entity. Extremely concerning.
President Diana Shats previously commented that she retired 1.2 billion personal shares of her common stock in the Company in preparation of this acquisition
Did she really retire 1.2 billion personal shares or did she just give herself some of the Series A Preferred shares that the common designated in March of 2011 in place of those common shares?
EXTO shareholders will receive 20% of the issued and outstanding shares in TACG. The record date for the share dividend has been chosen as June 15, 2011 and share distribution dates have not yet been determined. Upon completion of the spin-off, TACG is expected to trade on the Over-The-Counter Bulletin Board ("OTC-BB").
Completion of the spinoff is subject to final approval by EXTO's board of directors, confirmation of the tax-free nature of the transaction, as well as effectiveness of an S-1 registration statement filed with the Securities and Exchange Commission and FINRA approval.
I'll tell you right now with complete confidence that Trans Atlantic Capital Group will not go public and the EXTO shareholders will not get any shares. S-1 filings can take months to get approved and require several amendments before the SEC is satisfied enough to approve the filings. Many S-1 attempts never get approved and end up being withdrawn.
The fact that Trans Atlantic Capital Group hasn't even done the initial S-1 filing yet despite all the press releases talking about it starting back in early May tells me that it was all just a ploy to bring in buyers to the stock and EXTO never intended on seeing any of it come to fruition. The ridiculous unbelievable revenues numbers which they would have to prove in an S-1 filing should have gave away that there really was no plan to ever do an S-1 filing. It was all just promotional BS and lies. Extremely concerning.
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The blantant fraud being committed in the press releases over the past few months is very disturbing. I look forward to digging deeper and seeing what other misleading statements have been made in press releases and what else I can find out about EXTO.
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