I don't frequent either of those boards. Would you be kind enough to enlighten me as to Down's legal troubles? I know you cannot give me the site addresses.
just a question just got done reading about 100 ihub posts then went to the last 50. One good question of all that the p/r does state that the divvy will be a value of at least .87 it does not state that they will pay cash of .87 what else could they give you since it also states that there will be no new shares issued so that covers the dilution portion. Just a question. Hope your haveing a good night
Dennis
Posts: 598 | From: San Jose, CA USA | Registered: Nov 2003
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posted
Based upon Blue's warning all should be aware of the following:
Aliases: PATRICK DOWNS PATRICK CHRISTOPHER DOWNS
Note: The offense descriptions are truncated and do not necessarily reflect the crime for which the offender is on supervision. Please refer to the court documents or the Florida Statutes for further information or definition.
Current Community Supervision History: Offense Date Offense Sentence Date County Case No. Community Supervision Length 05/31/1991 GRAND THEFT O/20,000 L/$100,00 05/06/1992 ORANGE 9108418 15Y 0M 0D 05/31/1991 05/06/1992 ORANGE 9108418 15Y 0M 0D 05/31/1991 05/06/1992 ORANGE 9108418 15Y 0M 0D 05/31/1991 FRAUD-USE OF DEVICE 05/06/1992 ORANGE 9108418 15Y 0M 0D 05/31/1991 05/06/1992 ORANGE 9108418 15Y 0M 0D 05/31/1991 FRAD'LY OBTAIN PROP,ETC. 05/06/1992 ORANGE 9108422 20Y 0M 0D 04/25/1991 FRAD'LY OBTAIN PROP,ETC. 05/06/1992 ORANGE 9109625 5Y 0M 0D 05/31/1991 FORGERY/UTTERING 05/06/1992 ORANGE 9200247 5Y 0M 0D 05/13/1991 FORGERY/UTTERING 05/06/1992 ORANGE 9200248 5Y 0M 0D 08/17/1990 GRAND THEFT O/20,000 L/$100,00 05/06/1992 ORANGE 9200593 15Y 0M 0D These were some of the charges he pled guilty to doing that didn't show up on the summary list:
grand theft second degree sale of unregistered securities (3 counts) sale of securities by an unregistered issuer (3 counts) fraudulant securities transaction (3 counts) grand theft third degree (2 counts)
I was not aware of any of the above. Yes, it was years ago, but may be indicative of current negative intentions or results. I do not know. I just ask that all are careful and pay attention to keithsan's and Blue's suggestions in addition to your own thoughts.
Posts: 3607 | From: NJ - Outside Phila. | Registered: Mar 2004
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Good question. They do not specifically say it will be a cash dividend, but do state the "value" will be at least .87. I suppose that leaves some room to do other things if the whole thing is questionable. I just ass-umed they meant cash. Suggest you keep a very close watch on any releases. If other than cash, bail out!
Posts: 3607 | From: NJ - Outside Phila. | Registered: Mar 2004
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Me too I didn't get it till someone else pointed it out. Caught me off guard It seems if we get to the .80+ It will be hard for me to hold but we will see Im hopeing they put out the p/r first thing tommorrow morning with all the explanations Good Luck to Ya and thanks for posting it.
Posts: 598 | From: San Jose, CA USA | Registered: Nov 2003
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posted
I'd like to reiterate the fact that I own zero shares of IDWS, don't know that much about it, and really have no idea about Patrick Downs. My "DD" has consisted of about 5 minutes worth of poking around, that's it. Is just an interesting situation, so - was just following it, that's all.
I am not trying to bash IDWS, pump it, or anything else - merely a bystander. My only point was that if i *did* own it, especially if I owned a significant chunk, then I'd want to make sure to fully research the company and proceed with a bit of caution, and develop a personal comfort zone on the risk/reward curve on it. That's all. I honestly have no idea if it will soar or tank; could do either. I certainly hope for those playing it that it does quite well.
personally i hold 2 good-sized positions in companies that many consider to be scams: GFCI and ETLT. so while i freely admit all the time that i am the board's "pet fuddy-duddy" and invest in the most boring stocks here this side of Purl, i'm not trying to tell anyone to *not* try to play a stock with question marks. my only point is to be aware of risks and weigh position-size and buy/sell decisions accordingly, as i did with both ETLT and GFCI.
along these lines, i agree 100% with wallace's sentiments over on the micro board, about the need to be open to looking at both pro and con when it comes to a stock one owns, and to actively seek out and consider all valid forms of research about it. just common sense.
as a side note, many people here who also visit RB know that it's often quite a cesspool, with an incredibly low signal/noise ratio. but - the fact that sometimes there's a few nuggets of useful information there amongst all the pumping and bashing, still compel me to go over there and read a bit of it for stocks i follow, though i've never posted there. the trick of course is to try to filter it all properly, take things with a grain of salt, and follow up any posts of genuine interest with your own DD.
Posts: 1698 | Registered: Mar 2004
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Within them I find a reasoned approach to evaluating a stock and a few nuggets of wisedom beyond stocks and stocks and stocks and more stocks. Thanks for being "the board's "pet fuddy-duddy"".
Posts: 11304 | From: Fort Worth, Texas | Registered: Mar 2005
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posted
Called Co this morn. Left msg at Downs' extension. Questions: 1. Cash Div or some other form of div.? 2. Expound on question of prev. litigation?
Also called Scott, Pres. He said he could give out no info. Only from Downs. Pushed rather hard for question of cash div. Specifically asked is it strictly a cash div or some other form, such as a spin off of some "rinky-dink" operation? He said he understood where coming from, but only Downs can respond by email.
Am not crazy about the above response.
Posts: 3607 | From: NJ - Outside Phila. | Registered: Mar 2004
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posted
Wondering why they would wait till after market closes to announce the divvy you think it better or worse. Seeing if it's good that would give all weekend for people to find out about it. just a question
Posts: 598 | From: San Jose, CA USA | Registered: Nov 2003
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posted
If all cash, you will probably see it climb. If all spin off of something, will probably see exodus. If combination of the two, question as to which way.
Posts: 3607 | From: NJ - Outside Phila. | Registered: Mar 2004
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quote:Originally posted by Dudanation: Where will it be announced?
Keep an eye on Stockhouse.com. I am sure someone will spot it and post it here as well.
Posts: 3607 | From: NJ - Outside Phila. | Registered: Mar 2004
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quote:Originally posted by hamagasi: wow,conversation on this stock has really heated up here.
------------------------------------------------- Nah, this ain't nuttin..... Just come around when we really get wound up over sumpin..
Posts: 10729 | From: oregon | Registered: Feb 2005
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posted
Saw where someone said Downs stated specifics on div. would be announced past Fri or Sat. Don't know if true. Could not verify info. Just keep looking.
Posts: 3607 | From: NJ - Outside Phila. | Registered: Mar 2004
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posted
This is where you have to read p/r's very carfully instead of breezing through it. This is taken from the last p/r notice the word Hopes
" IDS hopes to conclude in the next 48 hours discussion with Tax counsel to determine the exact dividend after closing costs and corporate tax considerations. In any event the value will be at least $.87 per common stock share."
Posts: 598 | From: San Jose, CA USA | Registered: Nov 2003
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IDS Worldwide, Inc. in a Letter to Shareholders to Be Released on October 12, 2005 Announcing HLS Buyout and Special Common Stock Dividend http://biz.yahoo.com/iw/051006/097223.html
IDS Worldwide, Inc. Files With NASDAQ: IDS Worldwide, Inc. -- Formerly Known as IDS Worldwide Solutions, Inc. -- Files Mandatory Certificate Recall and Symbol Change http://biz.yahoo.com/iw/051005/097121.html
Share buyback and retirement/Earnings guidance and more IDS Worldwide Solutions, Inc. Announces Completion of 10 Million Shares Repurchase of IDS Common Stock http://biz.yahoo.com/pz/050906/85316.html
* The company recently announced that its IDS Homeland Security Division, under an Exclusive Territory Agreement with Digital Securities Controls, Ltd., a division of Tyco International, has received a record-number 4,000 new client orders in the current quarter representing a 2,600 percent increase over the second quarter of 2005. IDS generates revenue from both security product installations and reoccurring monthly monitoring fees.
* IDS announced its guidance for the company's first year as a publicly traded company with revenues of $25 million - $30 million and EPS of $.21 - $.23
* The company, under its previously announced stock buyback program, has repurchased 10 million shares of IDS common stock in a series of open market and private purchases. IDS' stock buyback program has reduced the outstanding common shares of the company by approximately 20 percent.
* www.995ad.com has already become the 2nd largest automobile site on the Internet in the 1st quarter of operation, approaching 575,000 cars.
* IDS has signed new agreements to add over 70,000 Worldwide Resorts and Hotels with live bookings and reservations to the travel section of 995ad.com."
* IDS has retained counsel to file a registration statement for its wholly owned subsidiary, 995ad.com. Upon effective registration statement, 995ad.com will trade on the OTCBB as a wholly owned, publicly traded subsidiary of IDS Worldwide Solutions, Inc. Common stockholders of IDS Worldwide Solutions, Inc. will receive a pro-rata number of shares of 995ad.com pursuant to each individual investors holdings as of the effective date of the registration statement of 995ad.com.
posted
In the above, forgot to highlight the previous (early 90s) litigation that may have been Patrick Downs. Serious enough to be meaningful if it was him.
Also, have heard nothing about the 995ad thing being accomplished or anything about timing. As far as the share buyback is concerned, it appears that they bought back Downs' shares.
Posts: 3607 | From: NJ - Outside Phila. | Registered: Mar 2004
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posted
Meaningless news release today....just a rehash. No specific useful info.
Apparently retaining ownership of part of div. Also polling SHs re div....remember that Downs controls.
Release: IDS Worldwide, Inc. Updates Special Dividend Payment Decision 10/17/05
IDS Worldwide, Inc. Updating Special Common Stock Dividend and Ex-Dividend Date
ORLANDO, FL, Oct 17, 2005 (MARKET WIRE via COMTEX) -- IDS Worldwide, Inc. (OTC: IDWS) today updated the Company's previous Press Release that it has concluded the negotiations for the buyout of the Company's Homeland Security Division (HLS) with the closing deal determined to be now valued at $41,500,000 before certain closing costs.
IDS also previously announced that the Board of Directors has decided to use 100% of the proceeds from the buyout for a one-time special dividend paid to common stockholders of IDS Worldwide, Inc. stock after various closing costs. IDS has been advised by Counsel that audits for the breakout of the Homeland Security Division (HLS) must be completed to determine the exact dividend after closing costs and corporate tax considerations for the one-time special dividend payment to the common stockholders of IDS Worldwide, Inc. These steps are required since IDS Worldwide, Inc., under the negotiated buyout terms, is not selling the entire HLS division and the IDS will maintain ownership in the new entity.
IDS auditors of its overseas HLS Division operations are scheduled to be completed this week and then will be combined and audited by US Tax Counsel. US Tax Counsel will take approximately 10 days for this review. Certain final closing agreements have now upgraded the range of the one-time special dividend value to the shareholders to $.87 and $1.01 per common stock share of IDS Worldwide, Inc.
Finally, IDS counsel has informed the Company that under Rule 10b-17 there is a 10-day window prior to "any dividend record date." Therefore, any investors buying the stock up to the ex-dividend date will be eligible to receive the full value of the one-time special dividend. Due to tax considerations faced both by the Company and individual common shareholders, IDS Board of directors has decided to solicit shareholder input thru a shareholder vote subsequent to the completed breakout audit of the Homeland Security Division (HLS) regarding the timing of the payment of the special one-time dividend payout and the structure of said payout. All shareholders will receive the proper documents via mail from IDS Worldwide, Inc. though the Company's Transfer Agent. IDS feels it is more equitable to allow all shareholders to determine and assess the tax implications and timing of the one-time special dividend that will affect each shareholder.
IDS is not issuing any additional shares of IDS Common Stock in connection to this transaction so there will be no dilution to common stock holders of IDS Worldwide, Inc. IDS has not concluded the negotiations for licensing the technology of the Company's various Biometric Technologies and this will not delay the closing but will conclude as a separate transaction.
posted
So they're saying current shareholders choose the dividend date? How about now! haha.
Sounds to me like they're just delaying things.
By the way. Do you have the buy the stock by the ex-div date or do you have to actually have possession of it (3 days after your buy date) for it to work? I've always been sketchy about dividends and whether i can sell on the ex-div date and still get the record date.
-------------------- This is some pretty gay Mc. Bestiality. Posts: 948 | From: Boston, MA | Registered: Oct 2005
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posted
I think you are correct about a delay. SH input or not, just remember that Downs really controls anything done about the dividend.
As to those dates, when announced, you must be a holder of record on the Record Date and, if you want the dividend, you must still own it until after the X-Dividend Date.
Posts: 3607 | From: NJ - Outside Phila. | Registered: Mar 2004
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posted
Wallace, do you think there will be an exodus as a result of today's PR? I had my finger on the sell but couldn't bring myself to pull the trigger yet. Needless to say, I'm not happy with this development.
Posts: 167 | From: New York | Registered: Aug 2005
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posted
We're seeing a drop in the disappointment of others. Good or bad? Think they might just drag this out to the point where they just decide not to give the dividend?
-------------------- This is some pretty gay Mc. Bestiality. Posts: 948 | From: Boston, MA | Registered: Oct 2005
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posted
Don't think this will cause much, if any exodus. No real info given to cause it. Not happy with this release at all, but still holding. It is disappointing. Seems to me that Downs could at least be specific as to the dividend type.....and I know he is aware of the question.
Posts: 3607 | From: NJ - Outside Phila. | Registered: Mar 2004
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posted
I'm holding until I at least see news on this. Hopefully we can catch it before most others if it's bad. I may even consider picking up some "dipping" shares this week but not many... the kind that you can't really lose much on because the quantity is low but since the price is getting cheap it'll be a great incentive for having to sit through all this dropping.
So just out of gut. What do you guys think is going to happen? Company decides not to give out dividend? Evil plan well-though out so they can buy back more shares before the price sky-rockets? I have no idea why they'd want to announce this and then not keep their word. And I also don't understand why they'd give us the dividend in the first place. So conspicious!
Posts: 948 | From: Boston, MA | Registered: Oct 2005
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posted
I don't mind telling you all that I am not the least bit happy with IDWS management. Rec'd an email back about potential shorts, profit taking, etc. BS, but no answers to specific questions. Supposedly my email came from Patrick himself. If I did not delete it, I will post it, but I think I deleted because it said nothing of note.
Posts: 3607 | From: NJ - Outside Phila. | Registered: Mar 2004
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>IDS stock was up over 500% in last 10 trading days. Some pullback is inevitable. Daytraders who have profits may not be willing to wait for the dividend. Additionally, parties who are know to be short the stock have called the company the last two trading days looking to buy large blocks. Bashing at the bid to produce panic selling to help them cover at lower costs could also be at work. Regardless, IDS will continue forward with our game plan that is not affected by day to day stock moves.
Posts: 3607 | From: NJ - Outside Phila. | Registered: Mar 2004
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Good Luck to Ya and thanks for posting it.
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