ParaFin Corporation Announces the Final Stage in the Process of Selling 90 Million Barrels Valued at US$6,800,000,000 Thursday August 10, 1:29 pm ET
LOS ANGELES, CA--(MARKET WIRE)--Aug 10, 2006 -- ParaFin Corporation (OTC BB:PFNC.OB - News) has structured the sale of its Russian Export Blend Crude Oil (REBCO) allocation of (90) ninety million barrels, as the ("Product"), in such a way as to provide the prospective buyers, such as Global Energy Trading Ltd., with flexibility for payment, delivery and Investment. The value of the Product at current Market Price of $77 per Barrel is equal to approximately $6,800,000,000 (US$6.8 Billion). "When you deal with entities of this size and sophistication in an extremely large transaction, the complexities of the deal are enormous," stated Mr. Frank Saez, Asset Manager of ParaFin. "We have worked out the details with the prospective buyers, and are now waiting for the insurance company, who will issue the performance bond, to finish its due diligence."
The Product is ready for sale and deliverable in (1,000,000) One-Million Metric Tons of REBCO per month from the Baltic and Black Sea (the "Loading Ports"). The price is discounted pursuant to the payment terms and conditions as FOB Loading Ports, as follows:
Option-I; Buyer delivering a Monthly Revolving Irrevocable-Documentary-Letter-Credit (IDLC) with Cargo-by-Cargo payments upon presentation of Bill-of-Lading and a 2% Performance Bond to guarantee timely Vessel arrival and loading; the Net Discount is $2.50 per Barrel.
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Option-II; Buyer delivering a Stand-By-Letter-Credit Format 458 Demand Guarantee (SBLC); The Net Discount per barrel will be negotiated depending on the number of months paid for the Monthly Shipment Value (MSV).
Option-III; Buyer delivering as per Option-I for the basic Net Discount of $2.50 per Barrel and any number of MSV as per Option-II.
Option-IV: Buyer can purchase the Product as they would any security like a bond or a stock. ParaFin has issued a fully registered Series "A" Preferred Stock with the underlying value of the REBCO Product. The Net Discount per barrel would be negotiated based on the Purchase Quantity.
Each Preferred Stock Certificates (issue price $77,000 per Preferred Share) is represented by one thousand (1,000) Barrels of the REBCO Product ($77 per Bbl.). The Certificate has a CUSIP and ISIN # that can be posted on Bloomberg or EuroClear. Settlement can be via Depository Trust Corp. (DTC), EuroClear or Bank-to-Bank. The holder of the Certificate has the security's Market Liquidity and a Physical Redemption Feature for delivery on FOB Loading Ports in minimum quantities of (50,000) Fifty-Thousand Metric Tons and as per port availability within a 60-day time period.
Confirmation of the Product and its delivery will be provided inclusive with an Insurance Binder for the entire purchase amount that will cover any non-delivery event inclusive of Political Risk and Civil Unrest coverage. The coverage is provided by an "A" rated Insurance Company. ParaFin will secure a Futures Contract to protect the Investor from any downward price movement of the Product. The coverage is limited to the Investor's original investment, however, additional coverage can be secured by request and at Buyer's expense.
Posted by JL on :
Not in this one yet...watching from sidelines. Needs to break over .40s to get me in. Resistence has been .41-.42. So if it gets over might pick up a few. Otherwise stayin on sidelines.
Posted by wallymac on :
I just picked some up at .38. Looks promising with that PR. Strictly a news play on my part.
GLTA Wally
Posted by JL on :
Well technicals not too bad either. Ran up to .70 from .32 earlier in the week. Made its way back down to .35. So we shall see if it can base this .34-.42 range for a while before making another big swing.
Posted by JL on :
Yes interesting Chart is forming on PFNC. Blue skies if it can get into the .60-.80 range.
ps: how do you post a picture of a chart into a post? I tried [url] [/url]...didnt work. Also tried img on the same link above.
Posted by charter on :
use bigcharts.....I think stockcharts doesn't work here......
Posted by JL on :
k thx. Stockcharts is nice though innit? PFNC doin record volume again. 850k already. Has run to .52 after opening tug of war so far. Lets see what it does after the shake.
Posted by JL on :
Someone just loaded up on 1,640,000 shares in one large block. Thats $541,000. Must be late reaction to recent news.
Posted by charter on :
still holding.......
Looks like they brought the price down today to pass that block!
Posted by JL on :
Agreed ^^^
Posted by charter on :
its on support.....it needs to hold (it has been so far) and bounce from these levels. Asks are thin so it could quickly move back up imo
Posted by wallymac on :
Still holding. Not sure what is happening, MM accumilation or dilution but One thing I have found with penny stocks is that it really takes a lot of patience.
Posted by charter on :
looks like the selling has stopped, the support has held again, it traded in a close tight range and it closed green.....could moake its move up from here imo!
Posted by charter on :
still consolidating.....what is interesting is that it seems to be repeating the mid-july to aug pattern again.....if so, it could break out from this level imo!
Posted by charter on :
finally moving back up....
up 28%
.30x.32 last .32
Posted by JL on :
Tempted to add a few shares at these levels.
Posted by charter on :
finally looks ready........
Posted by JL on :
Yah Charter...its building out to make another huge run again seems like. MACD about to crossover. Last one was .32 to .70. Hopefully this one is 1+. Definately worth watching the next few weeks. Added 10k today on news.
ParaFin Signs Agreement to Provide $21 Million Worth of Diesel Fuel on a Bi-Weekly Basis to Thailand Company.
Posted by trade04 on :
Nice to see you in this JL!! gl man chart looks sweet
Posted by Mr. CATIAEngineer on :
Bah, i wanted to come over and play with another stock to get my mind off of CSHD a bit but immediately i bump into Trade04. I just cant get away! AAARRGHHH!!
Hows it going Trade? I am busy with work right now and cant dig into this too much but i hope to later. So far it appears they spelled Wellsink wrong in the PR? Is it Wellsink or Welsink? Obviously not an "issue" but it slows the DD process a bit. LOL
Posted by bullpicks6 on :
PFNC good volume day, looks like it can turn around by the EOD sellers out of the way
Posted by trade04 on :
Mr. Catia, I just called IR and this girl said she believes its wellsink, but didnt have the pr in front of her
Posted by Mr. CATIAEngineer on :
quote:Originally posted by trade04: Mr. Catia, I just called IR and this girl said she believes its wellsink, but didnt have the pr in front of her
Well, i must be inept because i cant find anything on Wellsink. But, maybe its the translation problem....nothing in English. This kinda reminds me of SLJB, difficult to track things down.
Posted by trade04 on :
oh well, im not much of a name tracker, i did the basics mostly, but now we have you for that thanks! let me know PM when you get a hold of wellsink or info on him lol...
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