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This one looks pretty exciting! I should get in now while there's a dip.
bigblaster
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One last dip- get in while the gettin's good
Penny_Guy
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Nice,Pick!!
SUMO
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who ever got in on the dip is a genius!!!
Bearclaw
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CAREFUL....I keep getting the same e-mail on this stock. It's coming to my private e-mail telling me to buy and saying it's not a group pick...I have no clue how they got my e-mail address...This must be a group pick...Watch out !!!!
Penny_Guy
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Got the same email. But I slready bought. Hope this one does well. Here is their client list. Not bad folks from what I can tell. I wouldn't mind having them as clients.
Alltel Archon Arkansas, State of Ascension Health AutoZone Arkansas BlueCross BlueShield BP Amoco Cajun Grocer Chevron/Texaco DaimlerChrystler FHC, Inc. General Motors HEB Grocery J.C. Penney Corporation John Muir/Mt. Diablo King County, Washington Lane County, Oregon MetLife Metropolitan Water Reclamation District of Greater Chicago MRO Software Nike Ocean Energy Owens Corning The Regional Medical Center of Orangeburg and Calhoun Counties Reliant Energy St. Louis Public Schools Santa Clara Valley Transportation Authority SBC Technologies SETON Healthcare Network Sony Southwestern Bell Corporation Tyco International Whole Foods Market
Penny_Guy
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Looks like it could do some damage with a little bit of volume too. Crossing my fingers.
osnola22
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The email is from gainster's old site.
Penny_Guy
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I got 17 emails
Penny_Guy
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This one sure did move earlier. Hopefully we'll see another run either later today or tomorrow morning. I'm going to lunch.
SUMO
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will gap tomorrow morning
GeckoVision
posted
careful with this one, looks just like another p&d
Jan 21,2005 8-K?
Item 8.01 Other Events
On January 17, 2005, BrightStar Information Technology Group, Inc. (the "Company") received service of an action filed by the State of Texas in the 353d Judicial District of the District Court of Travis County, Texas (Cause No. GV500031) against the Company and BRBA, Inc., its former wholly owned subsidiary, for sales taxes, interest, penalties and attorney fees for the period 1997 through 2004 in the aggregate amount of $666,387, plus future interest. BRBA, Inc. was liquidated in a chapter 7 proceeding that was completed in 2002 and the Company no longer has any responsibility for its affairs.
The Company believes that the suit against it is without merit. However, to avoid the cost and time required to adjudicate this matter, it entered into a contingent settlement agreement on January 19, 2005 whereby the action against the Company will be dismissed, provided the State of Texas receives $25,000 from the Company on or before May 12, 2005. The Company presently does not have a source of funds to make this payment, but is seeking to acquire such funding within the required time frame.
As reported in our third quarter 2004 report on Form 10-Q, the Company is continuing to explore its strategic alternatives. If the Company is successful in its strategy, the Company will have no assets or liabilities (other than contingent liabilities that are not believed to be material) and will seek to ultimately merge with an operating company. The litigation described above, unless resolved in a timely manner, may jeopardize the Company's ability to execute this strategy.
In addition, the Company believes that it will be unable to make the payment that will become due on April 30, 2005 to the holders of its subsidiary's Series 1 Convertible Promissory Notes (the "Notes"). As a result, the Notes would be in default on May 1, 2005 and the holders of the Notes would be entitled to foreclose on the Company's assets and take over its operating business. If that were to occur, the Company would cease operations.
SIGNATURES
Pursuant to the requirements of the Securities Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned there unto duly authorized.
BRIGHTSTAR INFORMATION TECHNOLOGY GROUP, INC.
Date: January 20, 2005. BY: /s/ Joseph A. Wagda ----------------------------------------- Joseph A. Wagda Chairman and Chief Executive Officer
freebird
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buy out with new management
On April 14, 2005, the Company entered into a Stock Purchase Agreement with Stellar McKim LLC ("Stellar"), a financial services and software group (the "Stellar Transaction"). Pursuant to the Stellar Transaction, the Company filed a Certificate of Designations creating a new series of Preferred Stock designated Series A Convertible Preferred Stock ("Series A Preferred Stock") and issued and sold to Stellar (i) 41,487,929 shares of Common Stock, representing approximately 57.6% of BrightStar's currently authorized shares for $213,415 in cash and (ii) 136,585 shares of Series A Preferred Stock, which are convertible into 482,764,933 shares of the Company's Common Stock, for $136,585 in cash. Authorization of the common stock underlying the Series A Preferred Stock issued to Stellar in the Stellar Transaction is subject to stockholder approval. Upon such approval and conversion of its Series A Preferred Stock, Stellar will own 94.5% of the common stock of BrightStar, on a fully diluted basis. In addition, the Series A Preferred Stock has voting rights based on the number of shares of Common Stock into which it is convertible. Therefore, pursuant to the Stellar Transaction, Stellar has approximately 94.7% of the voting power held by stockholders of the Company in all matters upon which stockholders may vote.
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