posted
" latest date I see on that "documentation" is June? "
not following you, 10... how does a June date "take away" from the DD aspect of that .pdf ? iow, what might have happened since June that would affect a long-term bond?
posted
Tex...things change...2 months ago? last 8-10 weeks of "transactions"...buys or sells on that bond aren't there..."to me"...doesn't varify anyting...not reliable...and again...I state TO ME
I find (the link) article more intersting...I have to ask myself...would this guy join in a scam? I guess anything is possible...
This is still a very interesting play...
-------------------- #1 Rule: Protect your capital! #2 Rule: Never fall for the BS on the boards! Posts: 8890 | Registered: Jan 2006
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posted
i was talking about funding to cover my buy, woulda gone straight to red if i was in around $1
-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!? Posts: 7800 | From: Virginia | Registered: May 2006
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posted
Not sure that lemon place is showing the "right bond"...ya'll will have to decide...
betting babe Member
Member Rated: posted August 14, 2006 12:23 AM -------------------------------------------------------------------------------- 2006-04-28 10:28:33 Conversion Solutions announces $500 million investment Funding agreement with Ismet Paez of The Caracas Group
KENNESAW, Ga., /PRNewswire-FirstCall/ -- Conversion Solutions, Inc. (OTC Pink Sheets: CVSU) announces that during the SB-2 filing process the following current events have taken place.
CVSU would like to announce the signing of a Global Funding agreement with Ismet Paez of The Caracas Group. The funding agreement brings 500 Million United States Dollar denominated Global, Bonds on the Republic of Venezuela with a 13.625% annual coupon, to CVSU's financials. The bond has been loaded in the Euroclear system with the following codes:
ISIN Number: US922646AT10
Common Code: 008975540
CUSIP: 922646AT1
BB Registration: A-989/08/01 to A-989/08/19
The bond also trades under symbol (VEZD) on the Deutsche Borse Frankfort market.
"We have been working diligently toward Hypothecation of the Bonds for liquidly. We have received written pre-approval for a credit line on the bonds and are in the final phases of execution. This process is very important to the launch of CVSU's business model for the funding of the projects and Asset Backed Security (ABS) origination," stated Ben F. Stanley, COO.
"The Board of directors has decided to complete the Credit facility prior to filing the SB-2; we feel that the addition of this asset is beneficial to the shareholders value," stated Rufus Paul Harris, CEO.
dot dot dot....
----------------------------------
REPUBLIC OF VENEZUE 13.6250 15/08/18 US922646AT10 008975540 13.625 USD 06 Aug 1998 15 Aug 2006 14 Aug 2006 G BOND 31 Jul 1998
Euroclear sitr posted above. 13.625 is the interest rate
posted
I have been googling around to find a copy of that bond, maybe a more recent. So far, just current price quotes and one site which wants ten bucks for a copy.
Appears it is hard to find copies of international bonds through usual sources.
CUSIP number 922646AT1 out of Venezuela.
Should anyone want to search around, I have verified that is the correct information through a price quote which also gave the correct bond information, but not a list of those vested in the bond.
Point is, Rufus claims one-hundred percent ownership of this bond. This is impossible unless subsequent to the July 27 date he bought out all those investment vehicles listed.
Otherwords, impossible.
Appears the bond information originates from Bloomberg L.P. if this helps.
Note, the bond document is dated JULY 27 not some date in June as claimed. There is no substitute for careful research.
quote:Originally posted by 10of13: Tex...things change...2 months ago? last 8-10 weeks of "transactions"...buys or sells on that bond aren't there..."to me"...doesn't varify anyting...not reliable...and again...I state TO ME
I find (the link) article more intersting...I have to ask myself...would this guy join in a scam? I guess anything is possible...
This is still a very interesting play...
well, what I'm asking--given of course that *is* the correct bond--is this: from June/July and before, wouldn't Rufus/co show up somewhere? Even if they did sell or convert something since June/July? Their "tracks" should be somewhere in order to list it as an assett, right?
posted
Not sure ...the Numbers seem to "match"..so they may be the same...Yes, their "tracks" should be there somewhere...I am not aware the name that "it may be under"...what I was pointing to is that the last date of a transaction was from June...even though the "report" was pulled at the end of July...
The way that I understand? is that their "financing" was obtained in part due to the "hold" of this bond...kinda like an equity loan (sorta)..but why not pay a smaller % on a "loan" rather than "cashing" in the bond that is gaining a higher interest yield?
To me the bond? Not sure I care... I am interested in the whole "deal" and how it plays out...the "people" that seem to be involved...appear to have good and varifiable "character"...this is the reason I see it as "less" of a chance of being some "scam"... and again interesting play...
-------------------- #1 Rule: Protect your capital! #2 Rule: Never fall for the BS on the boards! Posts: 8890 | Registered: Jan 2006
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posted
ya, the bond deal is confusing...but, frankly, given the "character" questions, I'd rather see something solid on the bond. That might counteract some of the "shadiness" in the background...
As in evidentiary rules, if one fruit is poisonous, all fruits are poisonous.
When a company is caught in deceit on a single item, all else about the company should be assumed to be deceit.
Based on this common premise, research begins with searching for any deceit, anything bad. Once found, all else found is tainted and highly suspect. Traders from beginner skills to advance skills, all know a large majority of penny stocks are scams. Logical then, to search for the bad first, then the good. The bad is much easier to spot knowing so many penny stocks are scams. Research is easier when you quickly dismiss scam stocks.
When the bad is not found, you have a stock which is worth deep research.
For a sidenote, a majority of penny stocks being scams lends to this myth of bashers. There are no bashers. This is a hoax. Toss up ten penny stock tickers, nine will be scams. Obviously those nine will be subject to harsh critique while only one may past the test. This causes a perception amongst the naive of the existence of bashers. Not true. These are people, most often, writing honest critiques of those nine scam stocks.
posted
Purl if that was the only thing going on here then there would be no cross words spent.. nor would your true attention seeking agenda be exposed.. You claim to be a great beacon of truth when all you are is a petty little girl seeking adoration from the meek and leaderless. Leave this game to the grown ups and scamper along.
Posts: 2965 | Registered: Aug 2005
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posted
i don't care nearly as much about the price as being good at sorting out the facts here...
see? i'm on summer vacation here... since the heat index has been 105 for 6 weeks straight? i don't feel like turning on my eqpt.... most entertainment i've had in while... well worth the price of admission..
except all the human body parts laying around...that is a real bummer
-------------------- Don't envy the happiness of those who live in a fool's paradise. Posts: 36378 | From: USA | Registered: Sep 2003
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posted
summer vacation...you are actually suppose to go somewhere..not just to another thread...
"except all the human body parts laying around...that is a real bummer" I've noticed a few of those..what the heck? maybe you should turn on your eqpt...
-------------------- #1 Rule: Protect your capital! #2 Rule: Never fall for the BS on the boards! Posts: 8890 | Registered: Jan 2006
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posted
i saw someone doing that at a craft fair. quite an art to that but they made it look easy. why don't you post pix of some of your work? some of us would like to see it.
-------------------- I'm from Missouri - Show Me! Posts: 950 | From: Middle of Nowhere, Missouri | Registered: May 2006
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posted
that's for sure. my only agenda here is doing dd and making money. if you do not want to show some of your work, no problems there either. its a free world. just thought it would be interesting.
-------------------- I'm from Missouri - Show Me! Posts: 950 | From: Middle of Nowhere, Missouri | Registered: May 2006
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Time for a little education, since some I fear need it in spades.
What is a Bond? It is a DEBT SECURITY, notice the word "Security". An issuer of a Bond, does so to raise money as a LOAN, that is given for a SET TIME and INTEREST rate (YIELD). The time of a BOND is set by its MATURITY DATE, and can be as long as say, 30 odd years.
Since Bonds are Debt Securities, they can be TRADED. In fact the Issuer of a Bond does so by OFFERING its Bond to investors much like companies do via IPOs. Thus, Bonds are a Security, much like Stock, that can be traded as such.
Therefore, we have a thing called a BOND MARKET, where investors can invest there money in Bonds, and Bonds have a price based on their YIELD, MATURITY and most importantly CREDIT! The credit part is very important since the risker the issuer of the Bond, the more YIELD/INTEREST they have to offer to make it attractive enough to investors.
They are a few different TYPES of Bonds, namely, GOVERNMENT Bonds and CORPORATE Bonds. Government Bonds are generally considered safer since they are backed by a GOVERNMENT as opposed to a CORPORATION, and have lower yields. But credit ratings vary for Governments JUST LIKE Coroprations too, so a Bond from say, SOUTH AMERICA, would be considered risker than a US or UK issued Bond. Yet, a South American Bond should still be considered safer than a Corporate Bond. Unless perhaps we are comparing it to a Corporation with say a AAA Credit Rated Company -- and a SOUTH AMERICAN Bond would offer a greater YIELD than say a US TREASURY BOND.
So this is why investing in Bonds is considered SAFE MONEY. And to invest in a Venezulan Bond would be considered safe too, no? Unless we invade that Country and bomb it to bits that is!
Now, remember the part about a BOND MARKET? Right, so when the issuer offers a Bond for say, I don't know $800Million, do you think they call up one guy a say "Hey man, give my $800 million, and I give you a piece of paper"? Of course not, it is offered just like any other security and ppl buy as MUCH OF IT AS THEY WANT, just like shares in a company.
Now, do you think this piece of paper, that constitues the Bond, has all those investors' names on it? You know, all those ppl that bought INTO that Bond? Don't be silly, the Bond is the BOND and it is openly traded.
So guess what? If you call "someone" to ask if say, Mr. Smith owns such and such Bond, do you think you will get an answer like, "Oh yeah I see Mr.Smith's name here right on my screen" -- of course not. Much in the same way, as if you asked Etrade how many shares I HAVE IN CSHD, they won't and CANNOT tell you. Sound familar? Of course it does.
Finally, remember some chatter about "Cashing In a Bond". Funny choice of words, or rather, funny INTERPRETATION of those words, since the ONLY person that could "Cash in a Bond", would be the ones that ISSUED the bond. And even that is contrived since, the Bond is the Bond, and cannot be "cashed" or surrendered anyway since it is SET and BACKED till its Maturity Date! The only "cashing in" you could do, would be to SELL your POSITION in a particular bond on the open market. And that can even be interpreted in a different way when are talking about BUSINESS.
Since, these Bonds are SECURITIES, you can use them as COLLATERAL. For what say? A loan! That right, a loan, that you have whilst still holding your position in the BOND, which in effect, allows you to CASH OUT YOUR FUNDS.
There is a smart word for this, and it starts with an "H". Smart business ppl do this, when they can earn INTEREST at a HIGHER YIELD, than the interest rate they are BORROWING at.
I have spoken. Thank you.
-------------------- #1 Rule: Protect your capital! #2 Rule: Never fall for the BS on the boards! Posts: 8890 | Registered: Jan 2006
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posted
Always good to bring information to help readers better understand technical issues.
However, that article on bonds contains a lot of errors, a lot of mistakes. No harm done while readers are prompted to learn more, are prompted to discover what are those errors.
Bottom line, however, readers should not be misled into believing Rufus is being truthful, misled being intentional or not.
Simple mistakes, a lack of knowledge, we can overlook those, correct those, this is not a problem. Contrasting this, if information does mislead readers, does effect trading decisions, we cannot overlook this.
A balanced viewpoint is a must.
Rufus does not own the bond outright, none know if Rufus even has an interest in the bond. Readers should be reminded of this for their best interest.
This stock lemon report, while I do not support their choice of wording, stated before many times, their documentation is absolutely right, which I have provided here before the stock lemon report and have verified as correct. Again, I do not support the hype and inflammatory wording at stock lemon, but their documentation is on target.
The author's article on bonds is appreciated although his article contains many mistakes which are unnoticed by many, but his article, although well meaning, serves to distract from serious known problems.
posted
looking at that article and leaving out what is said about CSHD what glaring mistakes are present?
Posts: 2024 | From: New Orleans, LA | Registered: Apr 2006
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quote:Originally posted by Purl Gurl: Research, read and learn about bonds. Then report back to us those mistakes you find.
Purl Gurl
Please tell us Purl since you seem to have a very good knowledge base on bonds, and some of us don't have the time to spend hours on it. I would personally like to know. Thank you in advance
-------------------- Disclaimer: Not accountable for anything I say Posts: 6266 | Registered: Jun 2004
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