My father recently found documents of him owning several thousand shares of a certain company. The document is dated 6/30/1986, has no ticker symbol, and is only a document asking shareholders to allow a certain party to speak on their behalf.
Here is the introduction letter:
To our Shareholders:
I am writing this letter to update you on the business activities of both SNS Motor Imports, Inc., your Utah public company, and SNS motot Imports, Inc., its wholly owned California subsidiary.
As the exclusive US distributor of Sanfu off roach vehicles since 1982, SNS california has important and sold approximately 1000 of these vehicles through its national dealer network and to the General Service Administration (GSA). Although the company sustained lossed during its first three years of operation, we expect to be in the black for the second quarters opeations of this year. This will have been as the result of a rigorous cutback program initiated during the third quarter of 1985.
Although there is some uncertainty as to the future of the off road program as the result of the San Fu Motors Industrial Co., Ltd and Fuji Heavy Industries Technical Assistance Agreement coming up for renewal in September of this year, SNS California has made dramatic efforts to continue the program and has ongoing negotiations with some new potential US distributors. One of these potential new US distributors has indicated a willingness to issue a Letter of Credit and funding in excess of $1 million. San Fu has indicated a willingness to compensate SNS in the form of a commission on sales to any new US distributors with whom an agreement is entered with San Fu. There will be no further vehicles for sale in the US market until early in 1987 at the earliest and these will be the new 700 series model.
SNS Utah anticipates taking an equity position in this new distributors company and it is likely that in the upcoming shareholders' meeting of SNS Utah it will be determines that SNS California will seve as the OEM parts supply company interfacing between Automotive Systems Internations (ASI) and the major Taiwanese Suppliers, San Fu and Yue Loong Motor Co.. Twenty-five percent of the stock in this copmpany will be conveyed to Olympus MTM per our ealier financial assistance agreement between Olumpus MTM and both SNS corportations.
SNS (Utah) entered into an exclusive supply purchase agreement with a Houston based company, ASI, in December of 1985 in which a business relationship was established that requires for all OEM (original equipment manufacture) parts supplied by ASI to its customer to be supplied through SNS provided the parts are manufactured by either Yue Loong of San Fu of Taiwan. Yue Loong is the country's number one automobile producer and Nissan affiliate, while San Fu is number four and the Renault and Fuji (Subaru) affiliate.
Mr. Tony Nunes has accepted a new position at ASI in complete charfe of new product development. he has indicated to me that SNS will be asked to submit price quotations on enarly all of the new products. There are numerous products currently under construction by such major US manufactureres as Ford and GM. Although it may take as long as a year before the necessary red tape is completed, it is very likely that SNS will secure many of these orders supplied through these major Taiwanese companies.
A commission structure proposal was recently submitted to Yue Loon Motor Co. for their approval, which in all likehood will be forthcoming. This would enable ASI to deal directly with Yuo Loong and SNS would receive a guaranteed commission. Yue Loong has also recently been suplied with a Ford Motor Company quality control manual which should expedite the manufacture and approval of some items already under consideration by Ford Motor Co.
All in all, it appears that there is a great opportunity for your company to take some signifigant leaps forward during the upcoming year. We enthusiastically anticipate success with this most recent OEM parts supply joint venture between our company and Olumpus MTM. Your board is pleased with the accomplishments of 1985, and is confident that SNS's officers and employees will attain the ambitious goals for growth in sales and earnins we have established.
Thank you again for your past support.
For the Board of Directors,
Randy D. Sines, Chairman.
END LETTER
Anyways, he owns shares of SNS, which he believes was bought out by another company. I'm putting this out to anyone to track down what the shares of SNS would be translated into now. What new symbol would they be? Any info is greatly appreciated. Matt
Posts: 1504 | Registered: Sep 2004
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Yea. I don't think this was necessarily a penny stock when my father first purchased his shares. The companies that SNS apparantly did business with seem pretty heavy too. Fuji, GM, Ford. It could be a good chunk of change that my dad is sitting on without even knowing it.
Happy Valley just ruined that dream though. That is the actual company it seems. They have the same address on that website as is on this investor letter. Estimated annual sales of only $51,000 and only one location. I'm hoping that site isn't up to date on that information. Thanks for the help everyone. I'll give the details about what comes from this. Thanks. Matt
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Any idea what division of the Sec deals with this. I can't seem to find something helpful on their website yet. Help me out, Tex?
Posts: 1504 | Registered: Sep 2004
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I would simply call 'em... main number. Prolly get bounced around--you know how they *are,* lol...I would emphasize "my dad" that I'm trying to help...individual investor, etc...might not hurt to know the names of your Congressional reps, *before* you call...
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Called the SEC first, main number. They were actually very helpful and quick. They had to call me back because the womens computer froze while working with me. She called back within 5 minutes and gave me the transfer agents phone number and address.
I then called the transfer agent. She immedietly located the shares but found no ticker symbol or price. Most likely the stock is gone. I will still call the phone number of the company to hopefully speak personally with Mr. Randy Sines to get the history of the company. Might be interesting to know my father may have lost $50,000 or so. Thanks for the help guys. Matt
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