quote:Originally posted by stocktrader22: It's like a CSHD situation, a company who wants to use some joke company to get onto the market. Depending on the worth of USSEC, this stock could explode, when we hear financials or more information!
John Rivera, CEO of U.S. Sustainable Energy Corp "USSEC," stated, "We are extremely pleased to announce our entry into the public marketplace. After searching for the best vehicle to go public, we ultimately decided to complete this transaction with LFZA.
CSHD had about 60 million outstanding though. These guys will have 500 million.
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quote:Originally posted by stocktrader22: According to the IR Firm, Redwood Consultants ( http://www.redwoodconsultants.com/ ) the OS will stay at 140M indefinitely.
There will be NO Reverse Split, so the OS is and will remain at 140M. The portion of the 500M Authorized that's left over is restricted.
Watch for a pop when the symbol and cusip change
The O/S is only 140m? I thought it was confirmed at 500m...that would be great! When is symbol/cusip change going to happen?
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Pending shareholder approvals and customary processes, the company expects to change its name to U.S. Sustainable Energy Corp and immediately request a new ticker symbol reflective of the new business.
-------------------- Disclaimer: Not accountable for anything I say
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quote:Originally posted by stocktrader22: Pending shareholder approvals and customary processes, the company expects to change its name to U.S. Sustainable Energy Corp and immediately request a new ticker symbol reflective of the new business.
Life's been good to Ralph Hughes. More accurately, Hughes has worked hard to make sure that life would be good to him.
Hillsborough's highest profile conservative activist, anti-tax crusader and power broker owns a pre-cast concrete business that is the largest of its kind in the nation. The privately held Cast-Crete has annual sales of $150 million and "is very profitable," the company told Wall Street analysts earlier this year. After taxes and other costs, Cast-Crete is projected to make a $24-million profit.
But almost unknown is how actively Hughes' Cast-Crete has gotten into the turnaround business, buying up financially distressed companies and trying to make them into performers, thanks in large part to the talents of John Stanton, a Vietnam vet who runs Hughes' construction products companies and the new acquisitions.
The interrelated deals include:
Taking over CyberCare Inc., a once troubled South Florida medical technology firm that was set to emerge from Bankruptcy Court this week.
A proposed merger with EarthFirst Technologies, an alternative fuels business.
U.S. Sustainable Technologies Inc., which is working on a biofuel gas from soybeans.
Nanobac Pharmaceuticals Inc. and its investigation of nanobacteria to help produce alt-energy.
A joint venture with Cofitral S.p.A of Milan, Italy, to build a $750-million alt-energy producing plant in that nation.
How ironic: The scourge of Tampa liberals is all up in the "green" energy movement.
-------------------- Disclaimer: Not accountable for anything I say
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Just a little info. EFTI is doing a reverse split to bring the share count down. You can bet he will bring the 500 million shares of this one down at some point as well. This may run for a little, but be cautious. I don't bash, just thought you should know the full situation.
Press Release Source: EarthFirst Technologies, Inc.
EarthFirst Technologies, Inc. and Cast-Crete Corporation Announce Merger Update Monday September 18, 10:55 am ET Merger Completion Targeted for 4th Quarter 2006
TAMPA, Fla.--(BUSINESS WIRE)--Sept. 18, 2006--EarthFirst Technologies, Inc. ("EarthFirst", or "the Company") (OTCBB:EFTI - News) and Cast-Crete Corporation ("Cast-Crete") provided the following update on their previously announced merger. The board approved merger which was originally announced on July 11, 2006, is targeted to close in 4th Quarter of 2006. Prior to closing, EarthFirst's shareholders of record will receive an information statement from the Company that will set forth the effective date of the 1 for 60 reverse stock split.
EarthFirst's financial statements for fiscal year 2006 will be prepared on a restatement basis reflecting its combination with Cast-Crete financials as if it occurred at the beginning of 2006. In other words, EarthFirst annual report will include the complete 2006 year of Cast-Crete's operations.
Commenting on the merger, Mr. John Stanton, Chairman and Chief Executive Officer of EarthFirst, said, "We are very excited about the upcoming merger and appreciate greatly the patience and support from the EarthFirst shareholders as we go through this diligent process. This is a monumental step in our commitment and strategy to delivering long-term shareholder value."
The following merger terms were announced on July 11, 2006:
(1) EarthFirst will change its name to Cast-Crete;
(2) EarthFirst will effect a 60-1 reverse split of its stock;
(3) Total shares outstanding after the merger, and after the reverse split of the stock will be approximately 15 million shares; and,
(4) The assets of Cast-Crete cannot be encumbered until acquisition debt is retired.
The following Pro Forma earnings for the twelve month period ending June 30, 2007 was also provided for Cast-Crete's operations, based upon actual results for the six-months ended June 30, 2006.
TWELVE MONTHS PRO FORMA EARNINGS JULY, 2006 - JUNE, 2007
Sales $ 150,000,000 Earnings before interest and taxes 65,000,000 Interest expense on Acquisition Debt (25,000,000) Income taxes (16,000,000) --------------- Net Income $ 24,000,000 ===============
Estimated Outstanding Shares 15,000,000 (Post 1 for 60 reverse split) Earnings Per Share (EPS) $ 1.60
The Company also announced that it will provide a technology update early in the fourth quarter of 2006.
About EarthFirst Technologies, Incorporated
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-------------------- Before you criticize someone, try walking a mile in their shoes, then when you do, you'll be a mile away and have their shoes.
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IMHO - I beleive this is on alot of peoples radar. They want to see how stable it is after a +900% increase in one day. It also needs to get down to .105 to fill the gap, then we'll begin to see more intrest.
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quote:Originally posted by betting babe: am i missing something? where is all the interest in this one
Rumor is a major PR today. Buy on rumor, sell on news I believe.
-------------------- Before you criticize someone, try walking a mile in their shoes, then when you do, you'll be a mile away and have their shoes.
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looks like there may be some truth to all these rumors??? seems to holding up great! hope its not the news that people talk about like crazy and when it does come out everyone dumps
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Lots of buys going on at the ask. The 0.14 wall is about to fall.
-------------------- Before you criticize someone, try walking a mile in their shoes, then when you do, you'll be a mile away and have their shoes.
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I just asked him about who would need to approve a PR. HE replied the SEC. I'm a bit cautious as to why the SEC would need to approve a PR.
-------------------- Before you criticize someone, try walking a mile in their shoes, then when you do, you'll be a mile away and have their shoes.
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Could it be that the SEC needs to approve some kind of filing or application instead? Not necessarily approve the PR itself, but the substance within it?
-------------------- Study before you buy, Sell before you think about it....
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ive seen pr's before claiming the SEC has approved the merger agreement of some sort, exchange of shares etc in other pr's... ill try to find one.
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THIS IS JUST AN EXAMPLE I STOLE FROM ANOTHER PR
LG&E Energy, Powergen Receive SEC Approval for Merger Companies Expect Closing to Occur Within Next Few Days
LOUISVILLE, Ky., Dec. 6 /PRNewswire/ -- LG&E Energy Corp. (NYSE: LGE) of Louisville, Ky., and Powergen plc (NYSE: PWG; LSE) of the United Kingdom received approval for their merger today from the U.S. Securities and Exchange Commission. With this decision, the companies have now received all the approvals they need to complete the transaction and begin joint operations... ... ... Shortly after the closing, LG&E Energy shareholders will receive letters of transmittal containing instructions for submitting their stock certificates at the agreed upon price of $24.85 a share.
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-------------------- Before you criticize someone, try walking a mile in their shoes, then when you do, you'll be a mile away and have their shoes.
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now that would be nice if we get an agreed price of a 24.85 per share LOL, but my guess is it would be along those lines... hope its really juicey
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