This is topic GRMU GREM USA Commences an Immediate Share Buy-Back Program in forum Micro Penny Stocks, Penny Stocks $0.10 & Under at Allstocks.com's Bulletin Board.
GREM USA Commences an Immediate Share Buy-Back Program Aug 7, 2006 9:39:00 AM Copyright Business Wire 2006
FORT WAYNE, Ind.--(BUSINESS WIRE)--Aug. 7, 2006--
GREM USA (OTCBB:GRMU) CEO Edward Miers is pleased to announce to shareholders the action by the Board of Directors approval to purchase up to 300,000,000 (three hundred million) shares of GRMU common stock in the open market. The August 4th, 2006 8-K filing outlines the details of the buy-back program with an estimated value of up to $1,200,000 (one million two hundred thousand dollars) over the next two years. This buy-back will commence on Monday August 7, 2006. Mr. Miers was quoted as saying, "The current market conditions and our recent business developments are such that buying our shares on the open market at these prices is a prudent use of corporate funds while adding shareholder value." Mr. Miers further stated, "We believe this strategy will also work toward GREM USA's eventual up listing to a larger exchange."
In further news the Company entered into a mortgage agreement in the amount of $440,000 at 9.75% interest with Interbay Funding, LLC. The financing has been collateralized by real property; and is also personally guaranteed by Mr. Miers. "Using a mortgage loan rather than other toxic financing options like convertible debentures or pipe financing shows we are serious about rapidly expanding and securing shareholder value through solid business decisions and a strong business model," stated Mr. Miers. "This will provide the Company with the necessary cash flow to begin immediate production and shipment of their product line." Mr. Miers continues to emphasize, "There will be no reverse split at this time and we see no need to increase the current share structure."
After the release of the 8-K filing on August 4th, Mr. Greg Reszel and Mr. Miers were interviewed by SubPennyRadio.com and stated, "On July 31st we delivered The Bill Leverty Free Radical to Bill and he loved it." The recording artist and lead guitarist of FireHouse was thrilled with his new guitar and during his exhaustive instrument evaluation said, "The sound is so sweet, I have to rerecord all the tracks on my upcoming album with this guitar. The GREM is just unbelievable and I can't describe the playability and sound. I haven't played a guitar as fine as the GREM in my entire 36 years of playing." As stated in the July 4th press release, Bill Leverty entered into an exclusive endorsement agreement with GREM USA. Mr. Miers also said, "While we were in Virginia we visited the Richmond Guitar Center where Bill purchases the majority of his equipment and believes they are the premier music outlet in town." Jason Morris manager of the Guitar Center and his staff members were impressed by the quality of the six GREM guitars that were showcased by Bill Leverty in an impromptu jam session in the store. Several of the associates commented, "Of the approximate 500 guitars we offer these are by far the 'sickest' guitars we have ever played. They look cool, play cool and are just incredible instruments." The full August 4th interviews with Mr. Reszel and Mr. Miers will be available as a podcast beginning Wednesday August 9th from www.subpennyradio.com/interviews and www.gremusa.com.
It has come to GREM's attention that several stock promotional services are following GREM closely. GREM has not solicited, endorsed, or contracted with these companies and has no intention of doing so. Company information and updates are released through official channels deemed by the Company.
As stated by Mr. Miers, "I would like to thank everyone who has visited the factory and especially our long-term shareholders for their continued faith and patience as we continue to advance the Company forward. The new GREM USA website continues to evolve since its makeover in July and will continue to do so as GREM adds more features and exclusive artists while increasing the Company's presence in the custom guitar industry. The Company currently has six original guitar designs including 'The Bill Leverty Free Radical' and will introduce two additional designs this fall totaling eight original designs by GREM."
Any interested parties are encouraged to visit the factory and schedule a tour for an opportunity to see the progress and achievements made thus far. Likewise, music store dealers, collectors, and music enthusiasts interested in purchasing the Company's custom handmade guitars are encouraged to phone the Company directly at 260-456-2354 or visit http://www.gremusa.com for more information.
About Guitar Center
Guitar Center is the leading United States retailer of guitars, amplifiers, percussion instruments, keyboards and pro-audio and recording equipment. Our retail store subsidiary presently operates 187 Guitar Center stores across the United States. In addition, our Music & Arts division operates 94 stores specializing in band instruments for sale and rental, serving teachers, band directors, college professors and students. We are also the largest direct response retailer of musical instruments in the United States through our wholly owned subsidiary, Musician's Friend, Inc., and its catalog and web site, www.musiciansfriend.com. More information on Guitar Center can be found by visiting the Company's web site at www.guitarcenter.com.
About SubPennyRadio
SubPennyRadio is a commercial-free, interactive broadcast offering listeners exclusive interviews with subject-matter experts, insight into enterprising companies, and detailed technical analysis. The show scans the trading field covering well-known companies to undiscovered market gems trading on the U.S. stock exchanges and OTC/OTCBB. SubPennyRadio encourages "better investing" by highlighting common characteristics of stocks on the verge of a breakout in their particular industries. Emphasis is on due diligence that include reviewing charts, SEC filings, and news events. For additional information visit: http://www.subpennyradio.com.
About GREM USA
GREM USA is a development stage company focusing on design and manufacture of custom handmade and mass-produced electric and acoustic guitars, amplifiers and accessories. For more information, please contact Edward Miers, Chief Executive Officer, phone 260-456-2354. http://www.gremusa.com and additional designs can be viewed on the Greg Reszel website at http://www.gmreszel.com
This press release contains certain "forward-looking" statements, as defined in the United States Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties. Statements, which are not historical facts, are forward-looking statements. The Company, through its management, makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are necessarily estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors, factors that could cause actual results to differ materially from those estimated by the Company. They include, but are not limited to, the Company's ability to execute its business strategy, the Company's ability to consummate and complete operations, the Company's access to future capital, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition and other factors that may be identified from time to time in the Company's public announcements. The Company undertakes no obligation to revise or update such statements to reflect current events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
This press release is provided for information purposes only and is not intended to constitute an offer to sell or a solicitation of an offer to buy securities.
Source: GREM USA
----------------------------------------------
GREM USA Fort Wayne IN Edward Miers 260-456-2354
Posted by kt325ci on :
.001 x .0011 with big volume
Posted by bowlegtroy on :
Moving....Volume is pouring in. Average 60 day vol = 18 mil. Right now (20 minutes after open), we're at 100 mil!
Up 37%
Posted by kt325ci on :
uptick .0011x.0012
Posted by Lootcifer on :
Wow this thing is moving up steadily. Lots of buys coming in.
Posted by wallymac on :
The company has started the buy back today. This should continue to move up.
GLTA Wally
Posted by xnycen on :
1mm left at .0012
Posted by Lootcifer on :
I wonder how long before the buyback gets completed. This stock is very cheap. Could we see something like PAIM here?? Just a thought
Posted by madmoney on :
quote:Originally posted by Lootcifer: I wonder how long before the buyback gets completed. This stock is very cheap. Could we see something like PAIM here?? Just a thought
company may purchase up to 10 percent of each days volume at the best average bid price, they are buying back 300 million shares over the next 2 years per the PR released today.
Posted by AshyToClassy on :
If only I had paid attention to this on Friday. Woulda came out very green today.
Posted by Lootcifer on :
quote:Originally posted by madmoney:
quote:Originally posted by Lootcifer: I wonder how long before the buyback gets completed. This stock is very cheap. Could we see something like PAIM here?? Just a thought
company may purchase up to 10 percent of each days volume at the best average bid price, they are buying back 300 million shares over the next 2 years per the PR released today.
I see.
Posted by Schwabie on :
over the next 2 years...
Posted by rickpic on :
I just got a nice fill at .0009 here and will be taking the ride with you guys! Good Luck and thanks for the post!
Posted by Lootcifer on :
Do guys see the size of ARCA's bid on the level2. Holy crap, thats huge.
Posted by Lootcifer on :
quote:Originally posted by rickpic: I just got a nice fill at .0009 here and will be taking the ride with you guys! Good Luck and thanks for the post!
Hey Ricpic haven't seen you in ages. Where have you been??? Good to see you
Posted by rickpic on :
I've been around! This one looks like it has a major move in it so I will play a bit here! .0009 was hard to get and it keeps holding very nicely on the bid side!
Posted by rickpic on :
If this kinda volume doesn't kick this one into gear then nothing will! They also have a great product. So we will see!
Posted by daytr8er on :
GRMU in some .0009 here too this stock reminds me of PAIM before the run.
Posted by rickpic on :
This kind of volume today will allow the company to buy back much greater amounts of stock, because of the 10% of daily volume buyback restriction! Bring on the volume! The more the better!
Posted by rickpic on :
Somebody is banking a boatload of this stock at .0009 and there must be a reason there doing that! ARCA with a 100m share order at .0008 is just sitting there waiting for a drop and a pop! I say this one move up today and tomorrow!
Posted by Lootcifer on :
I agree Ric, this will explode pretty soon. I had this on the watchlist Friday but way at the bottom of the list and thought whoever posted it was insane, but look whats happening now.
Posted by Johnwayne on :
I want to buy in but nothing above .0009
Posted by Lootcifer on :
There's your chance Johnwayne or maybe you wanna wait for .0008 or .0007. Either way good luck man.
Posted by Chopper on :
GRMU has been under the radar for so long most folks aren't aware of it. I like the company and the bid levels are still holding pretty strong. We shall see what the day brings. GLTA
Posted by rickpic on :
well those .0009's are filling in again on the bid and you may have missed the .0009 oportunity
Posted by AshyToClassy on :
Can you imagine what will happen if this takes off like PAIV or PAIM??? This only starting to come on a lot of people's radar. This week should be very interesting. The stock hasn't seen volume like this in ages.
Posted by Johnwayne on :
Blahhh... couldn't get filled. Lunchtime pullback is only hope now. Well I'll leave it open but looks like it's getting ready to run again.. Good luck all
Posted by rickpic on :
Ya I'd say this one's on the menu! Lunch time special, going fast! LOL I'm ready for desert!
Posted by AshyToClassy on :
Lets eat then. GRMU a la Carte
Posted by Schwabie on :
dilution here?
Posted by daytr8er on :
GRMU looking good imo . I remember PAIM traded the same way before the huge run up MMs acted like they had millions of shares.
Posted by rickpic on :
Read the PR there buying back not diluting!
quote:Originally posted by Schwabie: dilution here?
Posted by Schwabie on :
yes, i see that.. but its not moving yet... i am not in yet.. watching it closely.
Posted by Schwabie on :
what's o/s & a/s? how much does insider own? TIA
Posted by rickpic on :
Have Guitars! Will Rock!
Posted by AshyToClassy on :
quote:Originally posted by Schwabie: yes, i see that.. but its not moving yet... i am not in yet.. watching it closely.
As with Johnwayne, good hope you get filled low too Schwabie. GLTY
Posted by rickpic on :
about 4.5b o/s and I have no idea what the float is! I would say that the o/s was used to get manufactering up and running and a product line ready for market. Now they have that product line and its said to be some of the best guitars ever produced! I would expect a major PR campain coming into this Christmas season! This is just the beginning of what you will see here!
Posted by Mambo7 on :
Shares Outstanding: 4.79B Float: 492.19M
Posted by rickpic on :
Mambo, are you saying that all but 10% of the o/s is restricted? I hope so because I would just love to know that to be fact! WOW!
Posted by Mambo7 on :
These are the #'s i see at that link! updated as of 8/6/06
Shares Outstanding: 4.79B Float: 313.51M
Posted by Mambo7 on :
I see
Shares Outstanding: 4.79B Float: 492.19M
Posted by rickpic on :
If The float is anywhere near that low! This puppy is on the launching pad!
Posted by rickpic on :
Thats what I see now Mambo, but I had cut and pasted what was there when I opened the page the first time! Either # is extremly low!
Posted by daytr8er on :
GRMU 324 Mill volume so that more that the float already? we could see an EOD run.
Posted by Lootcifer on :
I'm reading it too Ric and I'm salivating at the prospect of how much this can go up with such a low float. BTW Johnwayne its at .0009. Try again to get filled if you like.
Posted by rickpic on :
The best move this company could make on top of a buyback, is to retire a huge chunk of that restricted stock and bring down the A/S. I bet thats the next step in correcting the share value!
Posted by Lootcifer on :
3 MMs sitting on the Ask at .001. This bound to move up
Posted by rickpic on :
Both ARCA and ETRD sitting on top of the bid with double the normal size bid blocks tells me they want these shares!
Posted by daytr8er on :
GRMU trying to add more at bid see if i get filled.
Posted by Chopper on :
Ed Miers owns 3 Billion of that 4,787,821,621 of which all are Restricted. Another 300 million is tied into the building loan that GREM ownes. Another 197,000,000 is privately held by a husband and wife in Florida per the filings.
Posted by rickpic on :
Thanks Chopper! This looks really really good, and the ask is getting pounded this afternoon!
Posted by fishfarmer on :
Want me one of them thar git-tars boys and girls. Posted by Schwabie on :
.0009
Posted by Johnwayne on :
Hey I did get filled at .0009. Think we might see EOD run here.
Posted by Chopper on :
Tom Roc from buy ins dot net just said on MN 1 the squeeze trigger price for GRMU is .003...
Posted by daytr8er on :
GRMU it would be nice to see it close at .0012 today.
Posted by Johnwayne on :
Looking at level 2 I would not be surprised to see this close right in this range. Can't complain about that. 3 days of 20%'s adds up quick.
Posted by Johnwayne on :
Dang it. Couldn't hold the bid at .0009. .0008 bid looks real solid.
All that volume, to close even is a head scratcher.
Posted by rickpic on :
That volume at the close was a major JOKE! 100% MM manipulation designed to make something look weak! This friggen market is so bogus its funny sometimes!
Posted by daytr8er on :
GRMU agree rick MMs being manipulating all day. Im sure they are short so this stock is going higher imo. Hold on strong guys this could be a multiple day runner.
Posted by Lootcifer on :
Once again based on the trading pattern today and the days volume, the MMs definite appear to be short on GRMU. We have a low float and thats making them cringe in their pants. They can't hold this down for too long especially with the attention this stock is getting right now.
Posted by wadeinni on :
I missed this one today. Noticed it ran up 50% what happened here??
Posted by AshyToClassy on :
Don't know if you guys saw this but according to Pinksheets Short Interest list. Grem USA has approximately 1,165,052 shares shorted as of July 2006. Short sellers had one day to cover so I'm assuming they've already covered.
The buyback has already started and as we saw yesterday the MMs accumulated shares bigtime.
Average daily volume is 21.5 million shares but yesterdays volume spiked at 366.4 million shares. Thats 1700% increase. WOW!!!
Look for this to explode this week. I wouldn't be surprised to this in the .005 ranges by Friday. IMO
Posted by Lootcifer on :
The MMs will definitely let this go. .0008 and 9's will be gone soon so get in low while you can. With share buybacks a guarantee the MMs will let this run like crazy now that they bought a ton of cheap shares.
Hey RicPic do you have any new info on this?? Just curious
Posted by AshyToClassy on :
Its gonna be one hell of a ride when this takes off. This came to a lot of peoples attention today. They even were talking about it on *** radio and some folks were pumping it over at IHUB. First PAIV, then FHAL, then PAIM and now GRMU. This has all the signs for a huge breakout upwards tomorrow and beyond.
Posted by Hustla on :
Yesterday I put in an order for 3 million shares at .0008 but it never got filled and the MMs were stacked on the Bid at .0008. If I remember the Level2 showed about 9 of them holding strong at closing. I got it set for Good Til Cancelled so Hopefully the MMs will stop being greedy and give me some shares. I think I deserve that. LOL
Posted by AshyToClassy on :
Well my order was finally filled yesterday at .0009 and I'm holding on tight for the ride when the MMs decide to put pedal to the metal. I thought I remember reading somewhere else that Shakerzz might be pushing this stock tomorrow too. Might be wrong but maybe someone could back me up on this.
Posted by Lootcifer on :
Good morning all, what surprises does GRMU hold in store for us today.
Posted by wadeinni on :
yawn yawn, morning Loot. Did we hit $1 yet??? LOL.
anyway happy trading today lets see what GRMU has for us today. I also got ckys and atwt on my watchlist, especially ATWT. They got some news today.
Posted by Hustla on :
Mornign sleepyheads..so who's ready for the rocket ride today. Yesterday it closed even with huge volume towards the end. This is a sign of something about to happen. I have my eye on this and a couple other plays today. Good luck trading and MMs at least have a little mercy on some of our wallets today.
Posted by xnycen on :
yeah, im ready, nothing is better than a pr says buyback
Posted by stocks1984 on :
i bet you nothing will happen to this stock,, i remember in the past , this stock was pumped by many newsletters, just be careful
Posted by xnycen on :
oh well, u can't bet about something u can't control of stocks1984, just don't bash here, it's just matter of our opinions that this stock might fly because of the buyback program
Posted by Hustla on :
Watching this like a hawk. The Level2 looks so weird
Posted by stocks1984 on :
quote:Originally posted by stocks1984: i bet you nothing will happen to this stock,, i remember in the past , this stock was pumped by many newsletters, just be careful
hey im not bashing, im just giving my opinion. will see what happens, I hope it goes up for you guys,
Posted by gatorhistory on :
so how much of yesterday's volume do you guys suppose was part of the buyback?
Posted by madmoney on :
quote:Originally posted by gatorhistory: so how much of yesterday's volume do you guys suppose was part of the buyback?
they can purchase UP TO 10 percent of the days volume at the best average bid price. no more.
Posted by rickpic on :
Well I would guess that with yesterdays volume the company could buy about 60 million today and keep this puppy active! It is yet to be seen if they intend to do that today. The wise investment for the company is right here at this level!
Posted by rickpic on :
my guess is tis buying right here is the company! 500000 share blocks designed not to move it up as they buy! If it is then its the right way for them to be buying!
Posted by rickpic on :
get your eyes on this! 12 500k buys in 4 minutes and there still coming
Posted by rickpic on :
MM shift yes sa!
Posted by rickpic on :
bids up and ask is up as well! Get your eyes on this stock this could be the move!
Posted by rickpic on :
One things for sure and that is that someone at UBSS mm is not going to lunch right now! LOL
Posted by Hustla on :
My eyes are on it Ric. Come on MMs lets be friends today. We shine green, and you'll shine even greener..LOL
Posted by Lootcifer on :
LOL oh wow, spoke too soon. We should stay quiet. They know we're watching
Posted by rickpic on :
now we'll see if they come right back at that ask again! there where 14 500k blocks that moved it up and now its back at trip8 x trip9
Posted by rickpic on :
I'm sitting here picking apart yesterdays PR and there are a few very noteworthy statements made in this paragraph!
In further news the Company entered into a mortgage agreement in the amount of $440,000 at 9.75% interest with Interbay Funding, LLC. The financing has been collateralized by real property; and is also personally guaranteed by Mr. Miers. "Using a mortgage loan rather than other toxic financing options like convertible debentures or pipe financing shows we are serious about rapidly expanding and securing shareholder value through solid business decisions and a strong business model," stated Mr. Miers. "This will provide the Company with the necessary cash flow to begin immediate production and shipment of their product line." Mr. Miers continues to emphasize, "There will be no reverse split at this time and we see no need to increase the current share structure."
Posted by rickpic on :
one is that they state there will be no RS and another is that it looks like Mr. Miers put up personal real estate to secure funding, and the last one I see that interests me most here is that he states "This will provide the Company with the necessary cash flow to begin immediate production and shipment of their product line."
This is headed up hill guys!!!!
Posted by rickpic on :
ain't this just about the nicest guitar you have ever seen?
Posted by stocks1984 on :
quote:Originally posted by rickpic:
ain't this just about the nicest guitar you have ever seen?
looks like any other
Posted by rickpic on :
It doesn't play like just any other though!
I just spent over an hour talking with Edward Miers, and this company has its $hit together!
here another page you might want to check out if your investing or thinking of investing!
44 million shares traded today. Still about twice as much as the average daily volume.
It seems ARCA has been hired to sit at the top of the Bid. They haven't budged all day except for that one brief moment when bid jumped from .0008 to .0009
Posted by rickpic on :
ya well I have it on good authority that more than half of that volume is the buyback! Posted by rickpic on :
The floats coming down here gentelmen and the short is huge!
Posted by Lootcifer on :
quote:Originally posted by rickpic: The floats coming down here gentelmen and the short is huge!
whats the current float??? if you have that available
Posted by rickpic on :
The MM's think because the A/S is high they can play there lil game here, but what many of you don't know is that when Edward Miers took over this shell and put GRMU in it the A/S was 25 billion and he has brought it down to 5 billion. Most of that is held as restricted stock by himself, and that there are many long term investors sitting on this stock! As I said before I just spent over an hour talking to the CEO here!
Posted by rickpic on :
Its under 400 million as of today, and the company is in there buying!
Posted by rickpic on :
heres another tid bit for ya! EVERYTHING they can manufature by years end! IS ALREADY SOLD!
Posted by stocks1984 on :
quote:Originally posted by rickpic: Its under 400 million as of today, and the company is in there buying!
question is this consider a long term play or short term?
Posted by Lootcifer on :
quote:Originally posted by rickpic: Its under 400 million as of today, and the company is in there buying!
WOOOO HOOOOO!!!!!! Hell yeah thats a good number and its only gettin better Posted by rickpic on :
At peek operations (they are still adding manufacturing space) they will net $14m annualy with just the guitars section of the company! They are about to bring in a major retailer (theres a huge hit to that in the last PR) and that should sell most if not all of what they can produce in the first 2 quarters of next year, ahead of manufacturing!
Posted by rickpic on :
stock1984! The CEO said that there are a very large number of what he conciders to be long term investors here! I play the market daily so I don't hold Long Term, but if I had to choose one to hold this would be on that list!
Posted by rickpic on :
This has gone from passive investment on my part! To one of my primary plays, as of today!
Posted by rickpic on :
Looks like the company is back in there buying again this afternoon also! 910000 blocks
Posted by rickpic on :
The question is! How long will the MM's continue to let the company buy shares at this PPS? I would think that with 50 or so million shares having been bought back by the company today and yesterday, and with a float of under 400m that they are already feeling major pressure to move this way way up to slow down that buying and get there shorts in order! This is not a partential gainer in my book its an inevitable gainer!
Posted by rickpic on :
I'm telling you big boys on this board to put a focus on this stock! Its worth watching and it will most certainly be worth playing both short term and long term! I did enough homework to know exactly what I'm saying here!
Posted by madmoney on :
quote:Originally posted by rickpic: The question is! How long will the MM's continue to let the company buy shares at this PPS? I would think that with 50 or so million shares having been bought back by the company today and yesterday, and with a float of under 400m that they are already feeling major pressure to move this way way up to slow down that buying and get there shorts in order! This is not a partential gainer in my book its an inevitable gainer!
the company can only buy back 10 percent of the days volume each day at the best average bid price, typicaly these shares are bought at the end of the day or at the close of trading.
Posted by Lootcifer on :
There were massive ammount of mirror trades today, so I think the MMs were also a main factor behind the volume today. They are accumulating which is a pain in the azz, since we don't know how long they will keep doing this
Posted by rickpic on :
Mad money! I was told that the company has been buying all day today and that they were buying all day yesterday! By The CEO Edward Miers! With the volume yesterday, the avaerage daily volume has increased 10 fold, and its 10% of the average daily volume that the company can buy back, so thats about 60m a day at this point, with a float thats already under 400m! Whats even to think about here?
Posted by stocks1984 on :
well the chart doesnt look pretty, so dont know what will make this go up
Posted by Lootcifer on :
quote:Originally posted by stocks1984: well the chart doesnt look pretty, so dont know what will make this go up
Stocks its a cat and mouse game with these MMs. One thing I always notice in pennyland is that they tend to use the charts against us. There is so much manipulation with these stocks, most times the charts are useless, just speaking for pennies
Posted by rickpic on :
Buying stocks when the chart looks pretty leave you losing 90% of the gains! Its about being ahead of the market in my book! Theres a buyback in play here and the float is already way low! Anyhow you will all do whatever you choose to do or not do so all I can do is pass on what I know!
Posted by Hustla on :
Well Ric I'm a pretty objective guy, just a part of who I am, but right now I'm in your boat. At the end of the day one side always come out being right with these stocks. This one is no different.
Would love to see this puppy leap for the sky though.
Posted by rickpic on :
yup your so right Hustla! I've been playing short term plays for 15 years and I've won and lost! I held this stock overnight and because I could relate to both the manufaturing end (I owned 3 furiture buisnesses, and have been a contractor for 20 years) and I felt that I could talk to the CEO and understand what he's doing and where he's taking it! I desided to have a conversation with him! He's focused and didn't try to ra ra me! He put it on the table and we had a nice conversation about what there doing and where they are, and where there going in no uncertain terms! So we shall see who is correct! I believe we will see that in the short term as well! Posted by rickpic on :
will the MM's let this close up or will they close it even! Hmm I think they will try to close it even to keep it looking weak! Funny game! Funnier because the company is getting back shares at a very cheep price and all those share come right out of the float, making it harder with each day for the MM's to continue there little game! Posted by rickpic on :
oh my god what a greaT BUYING OPPORTUNITY THIS IS! Posted by rickpic on :
60 million shares traded at the ask of .0009 and they close it even at .0008 when only 6m shares traded at that PPS all day! The BS is so transparent here its not even funny! But I'm sitting here laughing because it is a joke!
Posted by madmoney on :
quote:Originally posted by rickpic: Mad money! I was told that the company has been buying all day today and that they were buying all day yesterday! By The CEO Edward Miers! With the volume yesterday, the avaerage daily volume has increased 10 fold, and its 10% of the average daily volume that the company can buy back, so thats about 60m a day at this point, with a float thats already under 400m! Whats even to think about here?
the last 10Q put the outstanding at 4.78+ billion shares, reading through it i do not see how you get a float of 400 million shares. i see maybe a billion or so restricted. can you show me where the 400 million float comes from. TIA! ( the way i read the SEC rules it`s not 10 percent of the average volume its 10 percent of each days volume. so if the days volume is 50 million they can buy back 5 million for that day )
Posted by Lootcifer on :
Wouldn't it be nice to hear news like Grem USA is merging with Guitar Center or Sam Ash??
Now this baby would really go into overdrive
Posted by rickpic on :
quote:Originally posted by madmoney:
quote:Originally posted by rickpic: Mad money! I was told that the company has been buying all day today and that they were buying all day yesterday! By The CEO Edward Miers! With the volume yesterday, the avaerage daily volume has increased 10 fold, and its 10% of the average daily volume that the company can buy back, so thats about 60m a day at this point, with a float thats already under 400m! Whats even to think about here?
the last 10Q put the outstanding at 4.78+ billion shares, reading through it i do not see how you get a float of 400 million shares. i see maybe a billion or so restricted. can you show me where the 400 million float comes from. TIA! ( the way i read the SEC rules it`s not 10 percent of the average volume its 10 percent of each days volume. so if the days volume is 50 million they can buy back 5 million for that day )
Start at the beginning of the thread and read up till now and then I'll answeer your questions!
Posted by rickpic on :
quote:Originally posted by Lootcifer: Wouldn't it be nice to hear news like Grem USA is merging with Guitar Center or Sam Ash??
Now this baby would really go into overdrive
They will do just fine independently! I would think that a contract of some kind with Guitar Center is on the way though!
Posted by stocks1984 on :
what did i tell you?
Posted by stocks1984 on :
wow why so quiet, i thought this was going to the "moon!
Posted by Chopper on :
A contract with the Guitar Center could be very interesting and very profitable.
Posted by wallymac on :
quote:Originally posted by stocks1984: wow why so quiet, i thought this was going to the "moon!
For those who have the patience this will work out well. For those who want everything yesterday, It's a pump and dump or a scam. THe key to pennies has always been and will continue to be Patience and discipline. I'm very patient and very disciplined.
GLTA Wally
Posted by Chopper on :
Don't forget accumulate all your plays in the dips and lows Wally. Posted by wallymac on :
I bought more at .0007. I like my chances on this one, Chopper. WE will be just fine.
GLTA Wally
Posted by gatorhistory on :
accumulation....that's the reason it's quiet IMO. next should come a contract announcement or something about going in to full production of the current line. good things come to those who wait. Posted by TINPOZ on :
anyone know what the deal is with this thing ??????????????????????????????????
Posted by Matrix Trader on :
This is not an instant mover / pump and dump stock. I am going to hold shares for 1-2 years.
They just started making !fabulous! guitars as they call them. They company looks good !to me! from interviews/website/and other stuff.
They kind of work under they radar. This will move with some good contracts or end of year financials. Not before that.. I think
quote:Originally posted by TINPOZ: anyone know what the deal is with this thing ??????????????????????????????????
Posted by TINPOZ on :
anyone still watching this snail?????????
Posted by Chopper on :
it shows revenue, minimal - but still revenues. always a good sign.
Posted by MagicK on :
You guys read the whole thing?
"As of June 30, 2006, we had no employees, other than our sole officer and director, Edward Miers."
ummmm, then who's making the guitars???
However, due to our limited cash resources, we do not plan to add employees until such time as we have raised adequate funds to support our operations.
Guitars do not make themselves. Better add employees quick. The best equipment in the world could not produce guitars without human assistance.
Have to give him one thing, he seems honest. Doesn't seem to have left anything for anyone to have to wonder about. Laid it all out.
Even he is saying the future of this company is very questionable.
Would love to play one though, could tell you in three seconds flat if it's all they claim this guitar to be. Been playing electric guitar since I was eight. Everyone I know that plays, comes to me to setup their guitars for them. Do it all, neck tilt/bow adjustments, intonation adjustments, string height/gauge...etc...etc.
Claims to be a better guitar than a Fender or a Gibson for less than a third of the price. This, I gotta see.
Posted by will on :
Total Currents Assets.......... $20,242
Total Current Liabilities.....$1,535,811
REVENUES - net...................$4,749
Net Loss.......................$(713,807)
number of common shares outstanding 4,598,011,574
(Oh! is that where the money came from?)
The Company has an accumulated deficit as of June 30, 2006 of $34,285,002. The accompanying financial statements have been prepared in conformity with generally accepted accounting principles, which contemplates continuation of the Company as a going concern. As of June 30, 2006, the current liabilities exceed the current assets by $1,515,569. As shown in the financial statements, the Company incurred a net loss of $713,807 for six months then ended.
NOTE 5 - RELATED PARTY TRANSACTIONS
For the three and six month periods ended June 30, 2006, the Company accrued management fees totaling $300,000 and $600,000, respectively, for services performed by its President and majority shareholder. (There is only one guy going to make money off of this company, Mr Ed Miers)
WE HAVE NO OPERATING HISTORY TO USE TO EVALUATE OUR BUSINESS.
We have no operating history for you to use to evaluate our business. We have devoted almost all of our efforts to the repositioning our company as a designer and manufacturer of custom handmade and mass-produced electronic guitars. We are in an early stage in our development and it is possible that our products may not sell in the volumes or at the prices that we anticipate, if at all. If that occurs, we would receive less than the projected income from sales of products and our profitability would suffer.
MANY OF OUR COMPETITORS ARE LARGER AND HAVE GREATER FINANCIAL AND OTHER RESOURCES THAN WE DO AND THOSE ADVANTAGES COULD MAKE IT DIFFICULT FOR US TO COMPETE WITH THEM.
The guitar manufacturing industry is extremely competitive and includes several companies that have achieved establishing a significant market for their products and have substantially greater financial, development and marketing resources than we do. If we are unable to establish a market for our products, or effectively compete in the market, we will fail. (Aren't these words encouraging, "If at all", "we will fail")
OUCH !
No thank you.
Posted by gatorhistory on :
the debt is from previous incarnations of this company...and the guitars are made by Greg Reszel...who is paid as a consultant with stock.
Most of the outstanding shares are owned by Ed Miers...like...70% or more I believe? that leaves a very small O/S count, in the world of pink stocks that is.
Posted by Chopper on :
Odd trading on this stock last few trading days.... Thoughts?
Posted by BuckyBarnes on :
Has there been any news on the status of the buyback?
Posted by BLACKBEARD on :
shakerzzz says buy at .0009 and sell this afternoon at .0014 , take it er leave it
Posted by Chopper on :
Stock Mafia has GRMU featured on its site.
Posted by Golden boy 1982 on :
the volume is starting to pick up on this one, i think we will see an upswing
Posted by LucidLight on :
Does anyone know what the stock mafia's past performance has been?
Posted by LucidLight on :
That bid for 999,900 at 0.0008 has pretty much stopped trading in its tracks since yesterday, same thing for PCLO
Posted by LookAtThat on :
Four weeks ago, appears to be a turning point for this stock. Serious reporting, looks like a ground floor opportunity to me. Being honest, I am accumulating mainly because the stock looks like it has bottomed. Also enjoy good music. ............................................... GREM USA (OTC BB: GRMU, http://www.marketwatch.com/tools/quotes/quotes.asp?symb=grmu&vc=&siteid= mktw&dist=dropmenu)
GREM USA Commences an Immediate Share Buy-Back Program
GREM USA CEO Edward Miers is pleased to announce to shareholders the action by the Board of Directors approval to purchase up to 300,000,000 (three hundred million) shares of GRMU common stock in the open market. The August 4th, 2006 8-K filing outlines the details of the buy-back program with an estimated value of up to $1,200,000 (one million two hundred thousand dollars) over the next two years. This buy-back will commence on Monday August 7, 2006. Mr. Miers was quoted as saying, "The current market conditions and our recent business developments are such that buying our shares on the open market at these prices is a prudent use of corporate funds while adding shareholder value." Mr. Miers further stated, "We believe this strategy will also work toward GREM USA's eventual up listing to a larger exchange."
In further news the Company entered into a mortgage agreement in the amount of $440,000 at 9.75% interest with Interbay Funding, LLC. The financing has been collateralized by real property; and is also personally guaranteed by Mr. Miers. "Using a mortgage loan rather than other toxic financing options like convertible debentures or pipe financing shows we are serious about rapidly expanding and securing shareholder value through solid business decisions and a strong business model," stated Mr. Miers. "This will provide the Company with the necessary cash flow to begin immediate production and shipment of their product line." Mr. Miers continues to emphasize, "There will be no reverse split at this time and we see no need to increase the current share structure."
After the release of the 8-K filing on August 4th, Mr. Greg Reszel and Mr. Miers were interviewed by SubPennyRadio.com and stated, "On July 31st we delivered The Bill Leverty Free Radical to Bill and he loved it." The recording artist and lead guitarist of FireHouse was thrilled with his new guitar and during his exhaustive instrument evaluation said, "The sound is so sweet, I have to rerecord all the tracks on my upcoming album with this guitar. The GREM is just unbelievable and I can't describe the playability and sound. I haven't played a guitar as fine as the GREM in my entire 36 years of playing."
As stated in the July 4th press release, Bill Leverty entered into an exclusive endorsement agreement with GREM USA. Mr. Miers also said, "While we were in Virginia we visited the Richmond Guitar Center where Bill purchases the majority of his equipment and believes they are the premier music outlet in town." Jason Morris manager of the Guitar Center and his staff members were impressed by the quality of the six GREM guitars that were showcased by Bill Leverty in an impromptu jam session in the store. Several of the associates commented, "Of the approximate 500 guitars we offer these are by far the 'sickest' guitars we have ever played. They look cool, play cool and are just incredible instruments." The full August 4th interviews with Mr. Reszel and Mr. Miers will be available as a podcast beginning Wednesday August 9th from www.subpennyradio.com/interviews and www.gremusa.com .
It has come to GREM's attention that several stock promotional services are following GREM closely. GREM has not solicited, endorsed, or contracted with these companies and has no intention of doing so. Company information and updates are released through official channels deemed by the Company.
As stated by Mr. Miers, "I would like to thank everyone who has visited the factory and especially our long-term shareholders for their continued faith and patience as we continue to advance the Company forward. The new GREM USA website continues to evolve since its makeover in July and will continue to do so as GREM adds more features and exclusive artists while increasing the Company's presence in the custom guitar industry. The Company currently has six original guitar designs including 'The Bill Leverty Free Radical' and will introduce two additional designs this fall totaling eight original designs by GREM." Any interested parties are encouraged to visit the factory and schedule a tour for an opportunity to see the progress and achievements made thus far. Likewise, music store dealers, collectors, and music enthusiasts interested in purchasing the Company's custom handmade guitars are encouraged to phone the Company directly at 260-456-2354 or visit http://www.gremusa.com for more information.
About Guitar Center
Guitar Center is the leading United States retailer of guitars, amplifiers, percussion instruments, keyboards and pro-audio and recording equipment. Our retail store subsidiary presently operates 187 Guitar Center stores across the United States. In addition, our Music & Arts division operates 94 stores specializing in band instruments for sale and rental, serving teachers, band directors, college professors and students. We are also the largest direct response retailer of musical instruments in the United States through our wholly owned subsidiary, Musician's Friend, Inc., and its catalog and web site, www.musiciansfriend.com . More information on Guitar Center can be found by visiting the Company's web site at www.guitarcenter.com .
About SubPennyRadio
SubPennyRadio is a commercial-free, interactive broadcast offering listeners exclusive interviews with subject-matter experts, insight into enterprising companies, and detailed technical analysis. The show scans the trading field covering well-known companies to undiscovered market gems trading on the U.S. stock exchanges and OTC/OTCBB. SubPennyRadio encourages "better investing" by highlighting common characteristics of stocks on the verge of a breakout in their particular industries. Emphasis is on due diligence that include reviewing charts, SEC filings, and news events. For additional information visit: http://www.subpennyradio.com .
About GREM USA
GREM USA is a development stage company focusing on design and manufacture of custom handmade and mass-produced electric and acoustic guitars, amplifiers and accessories. For more information, please contact Edward Miers, Chief Executive Officer, phone 260-456-2354. http://www.gremusa.com and additional designs can be viewed on the Greg Reszel website at http://www.gmreszel.com
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