posted
Stockstar69, I don't know what happened to that. It's just disappeared into oblivion like the rest of the stuff that was claimed.
quote:Originally posted by Stockstar69:
quote:Originally posted by 6digits: Tax a weird thing with the MM scenario is that I heard Rufus mumble on SPR that he had 4 MMs fighting over this stock, not to mention other things that he never put into writing.
I remember that too. And heard it more than once afterwards. Whatever happenned there?
quote:Originally posted by 6digits: Stockstar69, I don't know what happened to that. It's just disappeared into oblivion like the rest of the stuff that was claimed.
quote:Originally posted by Stockstar69:
quote:Originally posted by 6digits: Tax a weird thing with the MM scenario is that I heard Rufus mumble on SPR that he had 4 MMs fighting over this stock, not to mention other things that he never put into writing.
I remember that too. And heard it more than once afterwards. Whatever happenned there?
I think they may still be around, just waiting on papers to be filed...JMHO...maybe they don't want to sign on until the SEC filings are corrected? One reason I said give it some time...
-------------------- Study before you buy, Sell before you think about it.... Posts: 3903 | From: Gulf Coast | Registered: Jun 2006
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quote:Originally posted by 6digits: looks like I meant .01,.0105.
Yeah, but many of us got in it at .007, etc....it has been steadily improving each day or couple of days. The charts and indicators are awesome on it still....
Can I make an honest observation? I really don't want you to take this the wrong way, because I know you are upset about being in this position as I am too. I feel like the air was let out of my balloon prematurely... I would suggest that you spend the time learning about charts or other plays and concentrate on making your money back. I started doing this a few weeks ago, and while I am not "over" my CSHD loss, I have different things to occupy my time so it doesn't p1ss me off as much...FWIW
-------------------- Study before you buy, Sell before you think about it.... Posts: 3903 | From: Gulf Coast | Registered: Jun 2006
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posted
Thanks for the suggest SherriT, i'm working on it. I just sold all the cshd that I had in my account to play somewhere else. I still have shares on a cert FWIW. I'm looking around for something to get in a run on.
quote:Originally posted by SherriT:
quote:Originally posted by 6digits: looks like I meant .01,.0105.
Yeah, but many of us got in it at .007, etc....it has been steadily improving each day or couple of days. The charts and indicators are awesome on it still....
Can I make an honest observation? I really don't want you to take this the wrong way, because I know you are upset about being in this position as I am too. I feel like the air was let out of my balloon prematurely... I would suggest that you spend the time learning about charts or other plays and concentrate on making your money back. I started doing this a few weeks ago, and while I am not "over" my CSHD loss, I have different things to occupy my time so it doesn't p1ss me off as much...FWIW
posted
I sold 26560 shares a little while ago. I don't know if that had any effect, but it should go up from here. Posts: 957 | Registered: Jun 2006
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quote:Originally posted by 6digits: looks like I meant .01,.0105.
Yeah, but many of us got in it at .007, etc....it has been steadily improving each day or couple of days. The charts and indicators are awesome on it still....
Can I make an honest observation? I really don't want you to take this the wrong way, because I know you are upset about being in this position as I am too. I feel like the air was let out of my balloon prematurely... I would suggest that you spend the time learning about charts or other plays and concentrate on making your money back. I started doing this a few weeks ago, and while I am not "over" my CSHD loss, I have different things to occupy my time so it doesn't p1ss me off as much...FWIW
-------------------- #1 Rule: Protect your capital! #2 Rule: Never fall for the BS on the boards! Posts: 8890 | Registered: Jan 2006
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quote:Originally posted by TaxBack04: The SEC does do a number on any stock they touch... I counted CSHD done the day of the suspension. I am actually in awe that it is trading right now at all.
I felt then that the suspension was premature, and I know now... since they have not put it into recievership that they did in fact move prematurely. (Probably because Rufus told them to "make it formal".) In anycase they have won their case, since an MM won't touch CSHD now, and the main players have disappeared, most likely taking any potential deals or unsigned contracts with them.
In reality there is probably little left for John to work with and is probably the main reason he has been so quiet.
I hope I am wrong, but I think the silence is a "bad" sign. No I want to restate that... I think the silence is the "worst" sign.
lol, Tax, how *does* this keep popping up?
"Receivership" is another process, entirely...no logical connection there...
posted
No Jenna i'm not out totally, i'm partially stupidly out. I have a cert for more shares than I sold today. I just got tired of seeing that money sitting there seemingly not doing anything and thought it could be put to use somewhere.
quote:Originally posted by Jenna: 6- Your out of CSHD totally?
quote:Originally posted by wallymac: November 2005 Securities Purchase Agreement
To obtain funding for our ongoing operations, we entered into a Securities Purchase Agreement with four accredited investors on November 18, 2005 and amended on December 14, 2005 for the sale of (i) $2,500,000 in secured convertible notes and (ii) warrants to buy 5,000,000 shares of our common stock. The four accredited investors, AJW Partners, LLC, AJW Qualified Partners, LLC, AJW Offshore, Ltd. and New Millennium Partners II, LLC subscribed for 11.9%, 32.6%, 54% and 1.5%, respectively, of the total offering. Each accredited investor purchased, or will purchase, such percentage of each closing under the Securities Purchase Agreement.
This prospectus relates to the resale of the common stock underlying these secured convertible notes and warrants. The investors are obligated to provide us with an aggregate of $2,500,000 as follows:
· $1,000,000 was disbursed on November 18, 2005; · $750,000 was disbursed on December 23, 2005; and · $750,000 will be disbursed within two days of the effectiveness of this registration statement.
Accordingly, we have received a total of $1,750,000 pursuant to the Securities Purchase Agreement, as amended. Pursuant to the Securities Purchase Agreement, as amended, we have issued 3,500,000 warrants and $1,750,000 in secured convertible notes and we are obligated to issue 1,500,000 additional warrants together with $750,000 in secured convertible notes within five days from the effective date of this registration statement.
The secured convertible notes bear interest at 8%, mature three years from the date of issuance, and are convertible into our common stock, at the selling stockholders’ option, at 55% of the average of the three lowest intraday trading prices for the common stock on a principal market for the 20 trading days before but not including the conversion date. Accordingly, there is in fact no limit on the number of shares into which the notes may be converted. As of December 15, 2005, the average of the three lowest intraday trading price for our common stock as reported on the Over-The-Counter Bulletin Board was $.10 and, therefore, the conversion price for the secured convertible notes was $0.055. Based on this conversion price, the $2,500,000 secured convertible notes, excluding interest, were convertible into 45,454,546 shares of our common stock.
3
In connection with the Securities Purchase Agreement dated November 18, 2005, we granted the investors registration rights. Pursuant to the registration rights agreement, if we did not file the registration statement by December 18, 2005, or if we did not have the registration statement declared effective on or before March 16, 2006, we are obligated to pay liquidated damages in the amount of 2.0% per month of the face amount of the issued and outstanding secured convertible notes, which equals $20,000, until the registration statement is declared effective. At our option, these liquidated damages can be paid in cash or restricted shares of our common stock. If we decide to pay the liquidated damages in cash, we would be required to use our limited working capital and potentially raise additional funds. If we decide to pay the liquidated damages in shares of common stock, the number of shares issued would depend on our stock price at the time that payment is due. Assuming that we are decided to pay liquidated damages for one month on April 17, 2006, the $35,000 (2.0% of the $1,750,000 of secured convertible notes outstanding on March 16, 2006) on April 17, 2006, would result in the issuance of approximately 318,182 shares of common stock. As of the date hereof, the investors have not demanded payment of the liquidated damages and we have not determined if we will make such liquidated damages payments in cash, stock or a combination of both.
AJW Partners, LLC, AJW Qualified Partners, LLC, AJW Offshore, Ltd. and New Millennium Partners II, LLC have contractually agreed to restrict their ability to convert or exercise their warrants and receive shares of our common stock such that the number of shares of common stock held by them and their affiliates after such conversion or exercise does not exceed 4.99% of the then issued and outstanding shares of common stock.
See the “Selling Stockholders” and “Risk Factors” sections for a complete description of the secured convertible notes.
The Company entered into a Securities Purchase Agreement with four accredited investors on November 18, 2005 and amended on December 14, 2005 for the sale of (i) $2,500,000 in secured convertible notes, and (ii) warrants to purchase 5,000,000 shares of our common stock. The four accredited investors subscribed for 11.9%, 32.6%, 54% and 1.5%, respectively, of the total offering. Each accredited investor purchased, or will purchase, such percentage of each closing under the Securities Purchase Agreement.
A prospectus relates to the resale of the common stock underlying these secured convertible notes and warrants. The investors are obligated to provide us with an aggregate of $2,500,000 as follows:
.
$1,000,000 was disbursed on November 18, 2005;
.
$750,000 was disbursed on December 23, 2005; and
.
$750,000 will be disbursed within five days of the effectiveness of this registration statement.
Accordingly, we have received a total of $1,750,000 pursuant to the Securities Purchase Agreement, as amended. Pursuant to the Securities Purchase Agreement, as amended, we have issued 3,500,000 warrants to purchase shares of common stock and we are obligated to issue 1,500,000 additional warrants together with $750,000 in secured convertible notes. The Warrant may be exercised by the holder hereof, in whole or in part, by the surrender of the Warrants to the Company, and upon (i) payment to the Company the Exercise Price for the Warrant Shares or (ii) if the resale of the Warrant Shares by the holder is not then registered pursuant to an effective registration statement under the Securities Act of 1933, as amended (the "Securities Act"), delivery to the Company of a written notice of an election to effect a "Cashless Exercise" (as defined in the Warrant Agreement for the Warrant Shares being exercised. ALIGN="CENTER"> 8
THE FURIA ORGANIZATION, INC. AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS MARCH 31, 2006 (UNAUDITED)
NOTE 5 - CONVERTIBLE NOTES -continued
As required by Emerging Issues Task Force Issue 98-05 "Accounting for Convertible Securities with Beneficial Conversion Features", the Company valued the beneficial conversion feature related to the $1,750,000 in outstanding debt at $1,431,818 which was treated as a loan discount and immediately amortized to interest expense.
Additionally, the 3,500,000 in warrants issued in connection with the $1,750,000 in outstanding debt was valued at $159,117 which as also treated as a loan discount and immediately amortized to interest expense.
The notes bear interest at 8%, mature three years from the date of issuance, and are convertible into our common stock, at the investors' option, at 55% of the average of the three lowest intraday trading prices for the common stock on a principal market for the 20 trading days before but not including the conversion date.
We have a call option under the terms of the secured convertible notes. The call option provides us with the right to prepay all of the outstanding secured convertible notes at any time, provided we are not in default and our stock is trading at or below $.20 per share. Prepayment of the notes is to be made in cash equal to either (i) 125% of the outstanding principal and accrued interest for prepayments occurring within 30 days following the issue date of the secured convertible notes; (ii) 135% of the outstanding principal and accrued interest for prepayments occurring between 31 and 60 days following the issue date of the secured convertible notes; and (iii) 145% of the outstanding principal and accrued interest for prepayments occurring after the 60 th day following the issue date of the secured convertible notes.
Our right to repay the notes is exercisable on not less than ten trading days prior written notice to the holders of the secured convertible notes. Notwithstanding the notice of prepayment, the holders of the secured convertible notes have the right at all times to convert all or any portion of the secured convertible notes prior to payment of the prepayment amount.
We also have a partial call option under the terms of the secured convertible notes in any month in which the current price of our common stock is below $0.20. Under the terms of the partial call option, we have the right to pay the outstanding principal amount of the secured convertible notes plus one-month's interest for that month, which will stay any conversions of the secured convertible notes by the holders for that month. The principal amount of the secured convertible notes to be repaid is determined by dividing the then outstanding principal amount of the notes by the maturity of the notes in months, or 36, multiplied by 104%.
The full principal amounts of the secured convertible notes plus a 30% penalty are due upon default under the terms of secured convertible notes. In addition, we have granted the investors a security interest in substantially all of our assets and intellectual property and registration rights.
In connection with the Securities Purchase Agreement dated November 18, 2005, we granted the investors registration rights. Pursuant to the registration rights agreement, if we did not file the registration statement by December 18, 2005, or if we did not have the registration statement declared effective on or before March 16, 2006, we are obligated to pay liquidated damages in the amount of 2.0% per month of the face amount of the issued and outstanding secured convertible notes, which equals $35,000, until the registration statement is declared effective. At our option, these liquidated damages can be paid in cash or restricted shares of our common stock. If we decide to pay the liquidated damages in cash, we would be required to use our limited working capital and potentially raise additional funds. If we decide to pay the liquidated damages in shares of common stock, the number of shares issued would depend on our stock price at the time that payment is due. Assuming that we decide to pay liquidated damages for one month on April 17, 2006, the $35,000 (2.0% of the $1,750,000 of secured convertible notes outstanding on March 16, 2006), will result in the issuance of approximately 318,182 shares of common stock. As of the date hereof, the investors have not demanded payment of the liquidated damages and we have not determined if we will make such liquidated damages payments in cash, stock or a combination of both.
The Callable Secured Convertible Note agreement prohibits the Company, without prior written consent, from redeeming, repurchasing or otherwise acquiring any shares of its capital stock. As of December 31, 2005, the Company had opened a brokerage account in which it had acquired 1,962,000 shares of its common stock for a total consideration of $376,019. During the quarter ended March 31, 2006, the Company acquired 818,405 shares for a total consideration of $243,554.43 and transferred 1,650,000 shares valued at $313,500 for consulting services. At March 31, 2006 the balance of its common stock owned by the Company was 1,130,405 shares valued at $306,222.
The breach of this loan covenant triggers the default provisions of the loan agreement which make the loan immediately due plus a default penalty equal to 30% of the then outstanding loan plus any accrued and unpaid interest on the loan.
Due to this breach of the loan agreement, the loans are reclassified as current and a default penalty of $ 528,288 was accrued. ALIGN="CENTER"> 9
posted
Been reading over at HSM and they are talking about a scroll from Paltalk. Look pretty interesting. 6 you may have made a small mistake today. Maybe not.
quote: LOL heres the scroll for paltalk
ititUP: NO JOKE I JUST SPOKE WITH BEN HititUP: He called back HititUP: just now n00b_101_1: LOL HititUP: He's not involved witht he comapny, but is working for the shareholders n00b_101_1: was he in mexico? n00b_101_1: oh 30west: lol.. HititUP: I dont know, heard fax in background n00b_101_1: nice n00b_101_1: what else he say ? H2omd: ok 30 are you LP640??? H2omd: ya tell us about ben HititUP: Said, they are still working on everything 30west: whats evrything? HititUP: it's stressfull but things will be resolved H2omd: that is a good statement HititUP: he just said everything for the shareholders n00b_101_1: baaaaaah n00b_101_1: cool n00b_101_1: thx hit 30west: thx hit H2omd: good job hitt HititUP: yea, i was so suprised he called back HititUP: very down to earth , said he's not spoken to John yet but RUFUS has HititUP: rph has spoken with him HititUP: and he is working right now for the shareholders (Ben is_ n00b_101_1: is rufus working for us n00b_101_1: ? n00b_101_1: stupid questions HititUP: so... Ben is NOT with CSHD..but is working for us/cshd...kinda weird 30west: wtf Dad_Roman: told ya geo...lol HititUP: like i said, he said he is not part of CSHD, but said he is working right now for the shareholders swflnewbie: did you see lp knows we got the phone call n00b_101_1: what? swflnewbie: post 13744
Join Date: Mar 2006 Location: Chicago Posts: 3,697 Quote: Originally Posted by carmelojg If that came from HitUp, I think it is 100% legit and I like what I hear
Yea, we spoke just 5 minutes ago.
Sum up:
He said RPH has spoken with John. Ben has not spoken to John since he became CEO. Ben is not part of CSHD right now. Ben is working for the shareholders. He does not know any information regarding the SEC case.
That's about it.
Thing to keep in mind. He personally told me that he is not currently part of CSHD. What benefit does he have of actually calling me back>? I called last night at 10:51pm and left a long message with my name and contact. Today I called agian, and he called me right back. He didn't have to do that.
Very down to earth guy, and I'm happy he called me back.
-------------------- Una Mas! Posts: 2717 | From: Eville,IN,USA | Registered: Feb 2004
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Join Date: Apr 2006 Location: Phoenix, AZ Posts: 1,663 I just received this email. Enjoy!
From: John Smith <connectingthedotsdc*lycos.com> (Lycos. Inc.) Subject: Connecting The Dots
Quote: After the patriot Act requiring sharing of data, the little company in DC that I work for has been very busy. We can take the data from any system and make it available to any other system. Recently I came across data regarding CSHD and it caught my attention being a share holder. I started asking questions, and the information started pouring out. Everybody was willing to provide information off the record. The following is a summary of what I was told.
It looks like a lot of attention was on CSHD because of Sabra Dabbs. She had been running several questionable businesses that had attracted a lot of attention. Sabra was transferring money from off shore accounts to a Wachovia bank in FL. They thought she was money laundering at first. She was running a company called Power House Funding that was charging a $50,000.00 broker fee to people needing funding to locate funds. She would claim that she had access to large amounts of money, and would require them to pay her a fee to come onsite and look over the project, review their business plans, and then she would promise to get them funding. According to the complaints filed, she never provided the funding. I was told that there was not one project ever funded, and there are a some really upset people. These included some very high up people in other countries that were looking for project funding that banks did not want to touch. There were also some very nasty p! eople on the money side that also looked to be money laundering. And on the money side, is where she came across the bonds.
Some of these bonds that Sabra was representing were people that did not want to be known. When Rufus released their information, the Caracas Group sent a C&D. Rufus then had to hold off on releasing the 10K while Sabra tried salvage the relationship with the Caracas Group. Rufus believed that since he had a contract they could not back out. But It seems Sabra had not fully disclosed to Rufus the contracts and control she had with the bonds. The SEC then decided this was the time to step in and halted CSHD. Since Rufus had given the SEC copies of the contracts that Sabra had gotten, she gave the SEC a copy of the Caracas Group C&D in a effort to protect herself. Sabra then tried to take over the company by voting Rufus out. Rufus had seen it coming, and had Mike take the company back. Sabra then decided that since Rufus had not filed all the paper work needed to make her VP, she could not be held liable and decided to bail.
Sabra then started telling Mike her version of the problems and that she was the only one that had control of the bonds. Mike was caught in the middle and could not get Sabra to help now that she knew she was not a legal VP. While trying get answers from Rufus there was a pretty heated phone call between Mike and Rufus. Mike then decided to give the company back to Rufus. Sabra then started working with the share holder committee members to get them to remove Rufus. Sabra also told the SEC and SHC that preferred shares had been sold to people she had gotten to invest and nobody knew were the money was. Sabra has also been telling SHC tht Rufus and family have been dumping shares. Sabra was the person that had setup the CSHD accounts with the ADP and MM. Sabra was how the SHC and John was able to get things filed when Rufus couldn’t. Sabra has been playing both sides and against each other. The list of bad news that has been given the SHC is very long, and it! all is coming from Sabra. Behind the scenes Sabra has played a major role in the events that taken place, and poeple in the know can confirm this.
Sabra also had a company called The Corporate Credit Firm that for $5,000.00 would help companies build a corporate credit profile. She was reselling them a $600.00 Dunn &Bradstreet credit profile. That is how she met Mike. Had Sabra been able to build Mike's corporate credit and gotten him funding with her two companies then maybe Mike would have never gotten invloved with toxic funding. There were a lot of people that got charged $5,000.00 and never got anything more than a couple credit card accounts opened for them. All this is just the tip of the iceberg, but it is information that you can DD. From all the information I have seen, there should be no problem in finding people from Sabra’s past and the people involved to validate what I have found out. If the people mentioned deny what I have found out, make them put it in writing. Then you will be able to take legal action against them when the people off the record move forward!
-------------------- Got CSHD? Its fun Posts: 766 | From: Washington, DC | Registered: Sep 2006
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posted
Quote: Originally Posted by HititUP Yea, we spoke just 5 minutes ago.
Sum up:
He said RPH has spoken with John. Ben has not spoken to John since he became CEO. Ben is not part of CSHD right now. Ben is working for the shareholders. He does not know any information regarding the SEC case.
That's about it.
Thing to keep in mind. He personally told me that he is not currently part of CSHD. What benefit does he have of actually calling me back>? I called last night at 10:51pm and left a long message with my name and contact. Today I called agian, and he called me right back. He didn't have to do that.
Very down to earth guy, and I'm happy he called me back.
Posts: 6410 | Registered: Jul 2006
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