quote:Originally posted by SherriT: So I know we are trying to get the word out, and I see this list above (forgive me, I just signed on briefly) - but are there certain ones that are more important than others? I sent an e-mail to my rep., and a formal letter to each of my state senators....just wondering who can do the most good in the shortest amount of time?
Also, we may want to include the date and time of the hearing - that way they realize it is time-sensitive...IMHO
as i recall, the head of the banking comittee...I've got it on a letterhead, somewhere. Anyway, it will involve a certain comittee, for sure--so be sure to cc: all members, not only the head...
quote:Originally posted by glassman: this FBI thing could get interesting...
these short-sellers from Slovenia? i bet we don't have extradition with Slovenia....
Simon has his phone number... the FBI shoud be told about that...
maybe he's not really overseas and it's all just part of his story to sound exotic?
sourstreet has posted 1777 times on CSHD... two times on another topic.. that's just since 7/26/2006 12:42:52 PM....
his first post was a threat to somebody... there is definitely "somethinge else" going on her that i can't see.
yah, especially since he was "too lazy" to dd the georgia website - yet, he has the time and energy to post almost 1800 times - oh my
Posts: 603 | From: Plymouth, MN | Registered: Jun 2004
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quote:Originally posted by Doniboy: I just watched the King of Queens episode where they bought a stock. It was hilarious. They bought at $6, rode it to $12, then back down to $4 where they panicked and sold. It then ran to $16 so they bought it back. It then ran down to $2.00. They decided it couldn't go lower so they borrowed against their credit cards. The CEO then went to jail and the stock dumped..LOL.
posted
Great post mnvestor. The SEC may be too lazy to investigate Euroclear. Let's hope Rufus has an attorney to force the SEC and the Dept. of Tressury to gain access to the legal documentations that show ownership. This may over the judge's head and he may take the easy way out. I smell Appelate Court. Don't expect this to be resolved anytime soon unless the SEC does their DD concerning this matter. I smell as much conspiracy on the part of the SEC as I do on Rufus' part.
Posts: 2309 | From: Minnesota | Registered: Feb 2006
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posted
If anyone cares here are my thoughts about Timothy Miles which proves "Who is he to judge anyone especially Rufus?":
-Admits to "Fudging some documents" from the last business he ran
-Admits to using aliases
-he's an ordained reverand but falsifies things?
-tells the SEC this is a scam but did not dd the VERY items he claims to be false (bonds). All documents are there to see on the Georgia Court Clerk's Website- (although maybe he can't afford the $5 it takes to look at the site after all he sells Barbeque Sauce for a living & how many times a year do you buy Barbeque Sauce?)
-he says he has contacted his "sources" at the SEC...so a person who has "fudged" docs & is possibly hiding from the authorities has connections in the SEC- makes the SEC sound a little "shady" to me....makes me wonder- remeber-Saul from M N 1 also said he had "contacts" in the SEC who tried to look up Rufus' bonds in Bloomberg? Who do these guys know in the SEC? -
-Timothy Miles claims to have no money involved yet he's so "passionate" about CSHD & fumbled around when asked how he makes money - then after a few studders he said "Barbeque...uuuhh Barbeque Sauce"... Oh yeah? Nice... What's the name of it? Where's it manufactured? Where's it sold? ...Really? Anybody know? I'd like to do some DD!!!!!!!!!
I have one question? Why accuse someone of something without all the facts? If you see a person leaving a bank with money do you assume they stole it Mr. Miles? They probably just made a withdrawl. Sometimes you have to look deeper.
One more thing, in regards to Timothy Miles statement about him knowing CSHD was a scam just by hearing Rufus & by just "being able to identify these things", he explained that he doesn't have to do in depth DD & stated something to the fact that, "Why would you keep checking to see if someone's dead if you know there dead? If they're not breathing & cold would you still put a mirror up to their nose?" Just a fun little fact for you, as a nurse a few years back, I went running into a patients room because the nursing assisitant said a patient of mine was not breathing, she was dead, sure enough I went into her room, she was unresponsive, blue & very cold, not breathing either, not sure how long she was like that well after further evaluation I noticed a very faint very slow heart beat, called for more help & in came the "crash team", & could you believe she is still on this Earth (as far as I know)...but since I did that extra "DD" I found out the TRUTH there yet was life in her, much like this company Rufus & the shareholders!!!
Sorry this is so long but I had to say it....Long & Strong all....it's not over until it's over...
-------------------- ..just remember....Family is EVERYTHING!! Posts: 3944 | From: Rochester, NY | Registered: Sep 2006
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quote:Originally posted by djg7: Great post mnvestor. The SEC may be too lazy to investigate Euroclear. Let's hope Rufus has an attorney to force the SEC and the Dept. of Tressury to gain access to the legal documentations that show ownership. This may over the judge's head and he may take the easy way out. I smell Appelate Court. Don't expect this to be resolved anytime soon unless the SEC does their DD concerning this matter. I smell as much conspiracy on the part of the SEC as I do on Rufus' part.
I *still* don't get this part...
quote:. . . SEC may be too lazy to investigate Euroclear . . . .
Is that sorta, kinda "consensus" coming from something the CEO said? or from court transcipts?
That is, why we do think the SEC was (maybe) lazy in checking the bonds?
posted
Nice post Jenna. That's the point I was trying to make. After sll the Dd that has been done cocerning this matter it is hard to determine who is the villain. What gives Timothy Miles the right to make accusations to the SEC without any DD concerning this matter. The SEC better have their bases covered or the sh!t will hit the fan. There is too much involved here for us not to take the fight to the SEC.
Posts: 2309 | From: Minnesota | Registered: Feb 2006
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posted
Jenna,I may be gone for the next few days. My mother is on her last leg of life so could you PM me with a summary? I really enjoy your posts. Thanks!
Posts: 2309 | From: Minnesota | Registered: Feb 2006
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quote:Originally posted by djg7: Nice post Jenna. That's the point I was trying to make. After sll the Dd that has been done cocerning this matter it is hard to determine who is the villain. What gives Timothy Miles the right to make accusations to the SEC without any DD concerning this matter. The SEC better have their bases covered or the sh!t will hit the fan. There is too much involved here for us not to take the fight to the SEC.
lol...
that's *another* point...
at this point? What really is the import of this "Tim" character? This is the "Street" guy?
I could understand somewhat when the tit-for-tat points were flying...but now it seems whatever it is that he was or might be is of no consequence.
Bonds are assets held in a PORTFOLIO. There are multiple designations for the total assets under a specific bond code. Thus, particular groups may own a portion of the same bond. Bloomberg terminals will show the portion traded in the U.S. interest, like the portion "held" by Fidelity, but may not show the portion held by the originator or controlling interest of the Bond portfolio.
International bonds are mainly registered in the Euroclear system. This is a highly organized international financial platform that controls the transfer of assets and securities. It allows for "movement, "trading", and transfer. It is interactive and very powerful. It is how THE WORLD moves assets.
Bloomberg terminals are for viewing the trading interest, hence if the SEC or Fidelity access their Bloomberg terminal... they can view the portion of the portfolio designated for investment trading, mainly the U.S. market. This portion is "owned", in a sense like stock, but does not always show the total bond portfolio as held by the originator or international bank that "owns" the majority of the bond. These are shown in the Euroclear system.
The Euroclear system is highly secure. Not just anyone can access it or have a code to access it's database. An institution must meet stringent financial and security qualifications to be admitted to the Euroclear system. The asset portfolio in this system holds most of the worlds assets. TRILLIONS of dollars. An institution must have an asset base of at least 200 million dollars, and gain security clearance through an exhaustive set of channels (making sure you are not a terrorist, etc.).
The SEC is not a watchdog of the Euroclear sytem or the international markets. They do not have immediate clearance to just jump on a terminal and view data. They would have to go through the US Department of Treasury to ask for access. How do you think the US Government transfers large sums of money to other countries? The answer: from the Department of Treasury through the Euroclear system to another international bank. THIS IS HIGH FINANCE on an INTERNATIONAL level. Mr. Harris gave them the screenshots of the bonds that CSHD "holds" in the Euroclear system, and even the contacts at the Department of Treasury so that the SEC could confirm this.
THEY HAVE CHOSEN NOT TO PERSUE THIS. They are afraid of finding the truth.
As far as ownership of the bonds. Do you own CSHD or any other company? You own a portion of it. Whoever has the majority of the bond, HAS CONTROLLING INTEREST. So CSHD "owns" the bond. They own a portion via coupon. Bank holds the bond and is the "owner" of the capital. It was originated via broker by Caracas Group (a.k.a. the guys with the oil money).
In finance, coupons are "attached" to bonds, either physically (as with old bonds) or electronically. Each coupon represents a predetermined payment promised to the bond-holder in return for his or her loan of money to the bond-issuer. The bond-holder is typically not the original lender, but receives this payment for effectively lending the money. The coupon rate (the amount promised per dollar of the face value of the bond) helps determine the interest rate or yield on the bond.
This company provides funding via "asset backed securities". The assets are the controlling portions of the bond portfolio that via the contracts and Euroclear codes, CSHD is shown to have. They are able to draw cash from these controlling interest via the international banking community to fund business projects for profit. Hence, they are assets.
The SEC needs to go through the proper channels to see this... or they simply don't want to. Pray that the judge will force them to comply. I am e-mailing this explanation to the judge.
Proper due diligence... and COMPREHENSION is required. Knowledge is power. CSHD is in the right.
This is my opinion based on my comprehension of the facts. Please correct me if I am wrong... but do it with some intelligent discourse.
Good luck to all. I am compiling a list of links... media and politics for the first page... please PM me with any of them. I'll set it up so that you can cut and paste into your e-mail send... one click and WHAM... 100 plus letters to all contacts. Start composing your personal letter now. The more we can get to the contacts by Monday morning, the better.
dog
Thank you for posting this.
Posts: 84 | Registered: Aug 2006
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quote:Originally posted by djg7: Jenna,I may be gone for the next few days. My mother is on her last leg of life so could you PM me with a summary? I really enjoy your posts. Thanks!
Sympathy and best wishes...
am sure many here would be willing to help keep you up to date...
Bonds are assets held in a PORTFOLIO. There are multiple designations for the total assets under a specific bond code. Thus, particular groups may own a portion of the same bond. Bloomberg terminals will show the portion traded in the U.S. interest, like the portion "held" by Fidelity, but may not show the portion held by the originator or controlling interest of the Bond portfolio.
International bonds are mainly registered in the Euroclear system. This is a highly organized international financial platform that controls the transfer of assets and securities. It allows for "movement, "trading", and transfer. It is interactive and very powerful. It is how THE WORLD moves assets.
Bloomberg terminals are for viewing the trading interest, hence if the SEC or Fidelity access their Bloomberg terminal... they can view the portion of the portfolio designated for investment trading, mainly the U.S. market. This portion is "owned", in a sense like stock, but does not always show the total bond portfolio as held by the originator or international bank that "owns" the majority of the bond. These are shown in the Euroclear system.
The Euroclear system is highly secure. Not just anyone can access it or have a code to access it's database. An institution must meet stringent financial and security qualifications to be admitted to the Euroclear system. The asset portfolio in this system holds most of the worlds assets. TRILLIONS of dollars. An institution must have an asset base of at least 200 million dollars, and gain security clearance through an exhaustive set of channels (making sure you are not a terrorist, etc.).
The SEC is not a watchdog of the Euroclear sytem or the international markets. They do not have immediate clearance to just jump on a terminal and view data. They would have to go through the US Department of Treasury to ask for access. How do you think the US Government transfers large sums of money to other countries? The answer: from the Department of Treasury through the Euroclear system to another international bank. THIS IS HIGH FINANCE on an INTERNATIONAL level. Mr. Harris gave them the screenshots of the bonds that CSHD "holds" in the Euroclear system, and even the contacts at the Department of Treasury so that the SEC could confirm this.
THEY HAVE CHOSEN NOT TO PERSUE THIS. They are afraid of finding the truth.
As far as ownership of the bonds. Do you own CSHD or any other company? You own a portion of it. Whoever has the majority of the bond, HAS CONTROLLING INTEREST. So CSHD "owns" the bond. They own a portion via coupon. Bank holds the bond and is the "owner" of the capital. It was originated via broker by Caracas Group (a.k.a. the guys with the oil money).
In finance, coupons are "attached" to bonds, either physically (as with old bonds) or electronically. Each coupon represents a predetermined payment promised to the bond-holder in return for his or her loan of money to the bond-issuer. The bond-holder is typically not the original lender, but receives this payment for effectively lending the money. The coupon rate (the amount promised per dollar of the face value of the bond) helps determine the interest rate or yield on the bond.
This company provides funding via "asset backed securities". The assets are the controlling portions of the bond portfolio that via the contracts and Euroclear codes, CSHD is shown to have. They are able to draw cash from these controlling interest via the international banking community to fund business projects for profit. Hence, they are assets.
The SEC needs to go through the proper channels to see this... or they simply don't want to. Pray that the judge will force them to comply. I am e-mailing this explanation to the judge.
Proper due diligence... and COMPREHENSION is required. Knowledge is power. CSHD is in the right.
This is my opinion based on my comprehension of the facts. Please correct me if I am wrong... but do it with some intelligent discourse.
Good luck to all. I am compiling a list of links... media and politics for the first page... please PM me with any of them. I'll set it up so that you can cut and paste into your e-mail send... one click and WHAM... 100 plus letters to all contacts. Start composing your personal letter now. The more we can get to the contacts by Monday morning, the better.
dog
Thank you for posting this.
quote: The SEC is not a watchdog of the Euroclear sytem or the international markets. They do not have immediate clearance to just jump on a terminal and view data. They would have to go through the US Department of Treasury to ask for access.
accepting this at face value, how long would it take for "Joe" at SEC to phone "Bill" at Treasury?
Joe: Hey, man, long time no see...kids OK?
Bill: Oh, yeah, 'cept that creep is still hanging 'round my oldest girl...
Joe: Man, that sux... these goofy kids, huh?
Say, I need access to that Euroclear thingee--some geek play the boss sic'ed me on...
Bill: OK, what's your e-mail again?
-------------------- Nashoba Holba Chepulechi Adventures in microcapitalism...
posted
I've given up hope of ever recovering my money here, read the court documents, listen to rufus' own admission that he forged benson's signature on the audit report and knowingly used incorrect ADP numbers repeatedly. He was completely unprepared for this, when the CEO has to be told by the judge to get an attorney, that the law doesn't allow a corporation to defend itself, you know you're in trouble.
It's over guys, we got taken for a ride, all we can do now is wait for the class action suit and hope we get a few cents on the dollar back from it.
Posts: 28 | Registered: Oct 2006
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posted
When I entered the stock it was on the 8k language where the following paragraph was printed, and the company opted for "C". That was great!
"In the event that the Actual Average Closing Price is less than $15.00, the Surviving Holdings Company shall deliver written notice to the Company no later than the second (2nd) Business Day preceding the Closing Date pursuant to which the Surviving Holdings Company shall elect, in its sole discretion, to: (a) maintain the Average Closing Price at a price equal to the Actual Average Closing Price; (b) set the Average Closing Price at $15.00 and pay the holders of Company Shares receiving shares of Buyer's Stock as Merger Consideration (after giving effect to the allocation procedures set forth in Section 2.4) an amount in cash equal to $15.00 minus the Actual Average Closing Price per share of Buyer's Stock to be received by such holders of Company Shares; or (c) set the Average Closing Price at $15.00 and pay no additional consideration to the holders of Company Shares receiving shares of Buyer's Stock as Merger Consideration (after giving effect to the allocation procedures set forth in Section 2.4)."
Then the 10k language changes the playing field by stating this:
"The Corporation hereby chooses option (c) to reset the Share value to an equivalent of $15.00 by issuing additional shares to each shareholder of record as of the close of business on October 16, 2006, the issuance date of the Reset shares is October 30, 2006 10 business days from the filing of this form 10-KSB."
I know I'm new here but I can't find anything other than company documents when I search for a definition of "threshold price reset." It's not even in investopedia. I can't see where this is anything but a stock split based on the closing price of Oct. 30. Correct me if I'm wrong, but on Oct. 31 the pps being traded would be reduced by this following definiton of a stock split from investopedia:
"Let's say stock A is trading at $40 and has 10 million shares issued, which gives it a market capitalization of $400 million ($40 x 10 million shares). The company then decides to implement a 2-for-1 stock split. For each share shareholders currently own, they receive one share, deposited directly into their brokerage account. They now have two shares for each one previously held, but the price of the stock is split by 50%, from $40 to $20. Notice that the market capitalization stays the same - it has doubled the amount of stocks outstanding to 20 million while simultaneously reducing the stock price by 50% to $20 for a capitalization of $400 million. The true value of the company hasn't changed one bit.
The most common stock splits are, 2-for-1, 3-for-2 and 3-for-1. An easy way to determine the new stock price is to divide the previous stock price by the split ratio. In the case of our example, divide $40 by 2 and we get the new trading price of $20. If a stock were to split 3-for-2, we'd do the same thing: 40/(3/2) = 40/1.5 = $26.6."
The true value of the company doesn't change and the stock price is reduced accordingly. Other than the company's definition, I can't find anything that tells me what a "threshold price reset" is.
I'm not the dumbest bulb in the bunch and I read and research alot as you can imagine -- but would someone explain this to me like I was a five-year-old (from the movie Philadelphia).
No more Trek movies on the horizon. I think they want Rocky and Indian Jones to catch-up. lol.
Posts: 77 | Registered: Oct 2006
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posted
vger, I tried to find the explaination for you, but I forget which CSHD thread it was on... I do remember it has to do with the merger and that it is not a dividend or split, it is simply part of the merger and does not effect the pps upon issue of the shares... Rufus explained it on SPR awhile back and it made sense at the time. At this point it makes no difference anyway, we have to get through the court system first and then we can worry about our shares and pps. Just my 2 cents...
-------------------- Success is having the time and money to enjoy all of life's wonders... Posts: 2083 | Registered: Nov 2005
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posted
Summary of some of Rufus Interview 10/26/06 and 10/27/06:
Originally Posted By Inlong
- SEC has not done the proper DD on the bonds. They simply looked at the bonds on Bloomberg which will not show all the owners of the bonds.
- Concerning the $500 million bond which Fidelity claimed was owned by several people via Bloombergs portal, Harris stated that Fidelity and others own a part of the bond issue, but the entire issue is for $700 million, in Which CSHD owns $500 million of. He went on to explain how there is a clear difference between Bloombergs Bond protal and that of Euroclear which the SEC had not even done DD on.
- When asked by Timothy Miles where the interest payment they reported in accounts receivable was, Harris explained that they still hold it as a coupon, and never cashed it in. Instead they leave the coupon attached to the bond in order to give them more leverage when ready to hypothicate them.
- Harris stated that the nephew of the Richest man in the world was the nephew of the Crown Prince of Dubai, who was willing to give CSHD as much $ as they needed if they would use those funds to finance a huge project in Dubai. He later went on explaining that Dubai is the next Hollywood, hinting that the deal may have something to do with building production studios in Dubai. Harris stated they have not gone forward with the deal since they are not ready yet
- Harris stated that another $ billion in assets should be coming in an 8k very soon. This will increase the assets owned by CSHD to over $13 billion giving it a current book value of over $130.00 per share
- November 7th is the court date we are all waiting for. Harris is certain they will be vindicated and went on to say that the stock price should soar as soon as it opens back up.
- Timothy Miles admitted to never viewing the GSCCA Georgia state documents and also admitted to knowing nothing about how bonds work.
-------------------- JA Posts: 22 | From: Arkansas | Registered: Oct 2006
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-------------------- 'The rewards for those that persevere, far exceed the pain that must proceed the victory!' Posts: 399 | From: leeds, england | Registered: Jul 2006
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-------------------- 'The rewards for those that persevere, far exceed the pain that must proceed the victory!' Posts: 399 | From: leeds, england | Registered: Jul 2006
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posted
Thanks Rich, but I am looking for an official definition -- no company or sec spin -- a link to an independent site, previous similar filings, etc.
Posts: 77 | Registered: Oct 2006
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posted
I tried to get to the document but it wouldn't let me. Just showed the petition #.
-------------------- 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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quote:Originally posted by GreenDay: fhalyess, I signed the petition, wonder why there are over 2000 views but only a couple hundred sig's.
The whogodaddy link doesn't work even after I take out the space. what's that one?
Every time you refresh the page, the "site visted" number increases. I could imagine people are hitting the refresh button, as so did I and it continues to increase. - IMO I did sign this petition because it only requests an electronic signature.
There is another web site (a couple of post above this one) accepting signatures, requiring personal information that I didn't feel comfortable with The site is not secure and it seems that anyone can pay to have the "petition" created. I may be totally wrong and it may be totally legit but I get enough spam and I don't like throwing my personal information into the wind to see where it lands. That one, I will not be signing. Again, IMO.
Posts: 121 | From: TX | Registered: Aug 2006
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quote:Originally posted by voyager1951: Thanks Rich, but I am looking for an official definition -- no company or sec spin -- a link to an independent site, previous similar filings, etc.
Took about 2 seconds to find this...if you sit back and always request others to do your DD then it may hinder your ability to make logical decisions...
reset pricing. The purchase price of the common stock or the conversion price of a convertible security is set either (i) at closing or (ii) on a specified date after closing and is subject to adjustment (downward or upward) based on various criteria that can include fundamental performance (operational reset), a specified event (event-driven reset), or the stock price of the issuer at a given point in time after closing (threshold price reset).
Posts: 559 | From: MN | Registered: Apr 2006
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posted
The godaddy link just shows that the site is registered by Mike Alexander!
-------------------- 'The rewards for those that persevere, far exceed the pain that must proceed the victory!' Posts: 399 | From: leeds, england | Registered: Jul 2006
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quote:Originally posted by voyager1951: Thanks Rich, but I am looking for an official definition -- no company or sec spin -- a link to an independent site, previous similar filings, etc.
vger, Rich is right that the answer does exist somewhere in 1000+ pages of the CSHD thread (at least as I recall - I will try to find). One comment I do have in regards to the split example you provided is that in this situation we have to take into consideration that the price of this stock is not where it's "supposed" to be. I took the following from: http://www.stockpatrol.com/article/key/splittingheadaches
"Why do company’s split shares? Again, forward stock splits generally occur when stock prices are high. Sometimes potential investors are deterred by those high prices and may be reluctant to buy shares because they feel that there may be a limit to the upside profit potential. After a split the stock price is reduced, and the upside becomes more inviting. And new investors have an opportunity to establish a more substantial position, since lower prices permit them to buy more shares than before. It may be purely psychological, but investors often believe there is more opportunity for upward movement when the stock price is reduced."
If you take this paragraph to be accurate, you can see that is not what's going on here with CSHD. The distribution of the 6 shares will not automatically reset the current price down in proportion as described by your split example. Now, could the market send the price down? Sure. But the 6 shares is about Rufus following through on what's stated in the filing - and not the premise for a forward stock split. The reality is that the addition of the shares still leaves the current PPS lower than where it "should" be - but makes it that much easier for the PPS to increase to where it "should" be because that amount has been reduced. And as stated in the paragraph above, "It may be purely psychological, but . . ."
Posts: 603 | From: Plymouth, MN | Registered: Jun 2004
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posted
The shareholder counter is not updating, thats why there are alot more views than signatures. I have e-mailed Mike to let him know its stuck!
-------------------- 'The rewards for those that persevere, far exceed the pain that must proceed the victory!' Posts: 399 | From: leeds, england | Registered: Jul 2006
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