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Author Topic: prim stock drop
jwlipa@earthlink.net
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I just watched the mm's run this stock down 20 points in 3 minutes. If it comes back up today, I'll know it was the mm's
Posts: 51 | From: hayden, al | Registered: Nov 2003  |  IP: Logged | Report this post to a Moderator
rajarammx
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Stock dropped beacuse there will be an addition of 500m A/S, at least thats what I heard...

GLTA

Raja


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lilpennypincher
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Copying this letter from Presumptuous, (hope you don't mind)

Dear Growing Number of Valued Shareholders,

I need your assistance to take our company to the next level—a level of significant, sustained revenues with attractive profit margins.

As you are likely well aware, some amazing events have recently transpired with our company. In the latter part of December we signed an agreement with Alexander Lindale, LLC to help us raise enough capital to fund partial operations and to help with some financial PR for the company. Our goal was to get enough capital to finish our current products and then start aggressively growing our business. Since then, our stock value has risen by as high as 7000%! Taking advantage of every dollar during this incredible process has been paramount to our success. With complete focus on our current business operations, recent acquisitions and closely monitoring our core sustainable organic growth, share value will take care of itself --as we all witnessed during January.

During last fall and early winter while our stock price languished in thousandth of a penny region, I raised as much capital as I could in order to pay for Cost Control's software development and to get the product in a form to be tested. Because the stock price was so low, I had to sell large blocks of stock for a few thousand dollars—but each dollar was poured into finishing the Cost Control product. With this committed focus during the past few months (most of the time was without any capital) we:

Finished Version 1 of our restaurant software product;
Completed beta testing at installation site;
Secured the first sale of our product to a third party;
Signed and LOI (letter of intent) to acquire an innovative company (Briza Technologies, Inc.) that has a unique international telecommunications and patent pending micro payment system via a SMS wireless platform;
Updated our website—we will continually update for greater shareholder interactivity;
Developed brand name and logo for our software; and
Set up exhibition space at upcoming industry trade shows and initiated a branding/marketing project.
Again, this was all accomplished on a shoestring budget. The primary reason for our dramatic upsurge, success and turnaround is that we have had some capital and we have had a handful of dedicated individuals--that had the courage and belief to do what seemed impossible—help us for more than 2 years without any compensation—I mean no compensation, not money or stock etc. While the lack of capital impeded our progress the last few years, the past two months of some regular capital has put us back in the game. While I am excited and grateful that our tides have turned for the better, we must continue aggressively pushing forward and stay steadfast and focused.

In my past letters to you, I ruminated my thoughts and have tried to stay positive and forceful in my commitment to Prime, but it has not been easy. I have always had a model in my head of what Prime can be; however, in the darks months of the last 2 years, I wondered if we could survive without capital—it was like trying to travel across the country in your car without fuel! With Prime's increase in fortunes of late, Prime's model as a premier holding company of emerging and profitable businesses is coming to fruition quickly.

While I am more confident and excited than in the past, this letter-writing task has been difficult. This past week my father lost his battle with cancer. While deeply saddened by his passing, I am inspired by the massive support you have all given me through e-mails and heartfelt phone calls. I thank you so much. Again, your commitment to me continually fuels my drive. I am more committed now than ever. I am taking up again the mantle of Prime's leadership now with verve and vitality. My Dad's literal final and reassuring advice to me as a father was to protect our company and save the shareholders' value in Prime by “just taking care of business, one day at a time.” I will do this. I committed to my father to do this. For me it will be important to immerse myself in work more than ever before and to keep my Dad's wishes alive in me.

So, how do we go forward? We must keep capital coming into the company. I am ready to now increase our infrastructure, even though I intend to keep all expenses to a bare minimum. I plan to out source as much as I can and run a “virtual” office to keep expenses low. But, I need help to do all of this and I need funds to keep the car moving. While some employees can start part-time and on a per project basis, other positions will require salaries, employment contracts, health insurance and stock options etc. At the same time it will be essential to start paying off the creditors who have been helpful to Prime and willing to work with us over the years.

When we initiated the contract with Alexander Lindale our stock was trading between .0001 and .0003 with 350mm shares available. From a capital standpoint, this equates to $18,000 at a minimum and no more than $75,000K in total capital. As I said I used large blocks of this stock last fall and early winter to fund Cost Control, leaving a small block stock to raise money as our stock price increased. The positive momentum that started in December can now initiate our sustained growth. But we need additional authorized stock in order to do this. I am completely focused on delivering constant regular revenues from fundable projects. This, I believe will bring about powerful changes. So far, it has served us well. While I do not want to build this company solely through acquisitions, the present opportunities with Briza, et al., will serve the relatively quick need for revenue and will also provide us the tools to serve long-term goals with significant revenues. Briza is ready to launch--in a big way while the affordable project of our restaurant software is almost ready to launch. Our next focus with our restaurant software is to attain 20 installation sites quickly and provide them with the best service possible. This will give us with a model for expansion and allow us to work out the regular “bugs” that accompany software such as this.

As I said, to finish these acquisition, etc., we need capital. We are at a crossroads. We have finally put in place the products, projects and partners that will help us achieve success and we have expended all of our treasury stock. We don't want to effect a reverse. That is an easy but an uncomfortable solution. The only way to for all shareholders to preserve their shares and for us to receive the next round of financing is to increase our authorized shares of common stock one more time. We need to add an additional 500 million shares as soon as possible. My investment bankers tell me that they would like this to be done in the next week so that we do not lose the momentum we now have. So, I am asking for your support one more time to help us increase our authorized shares so that we can finish all that we have started over the last year. Attached you will find a consent form at www.primeholdings.com/consent. Please sign it and remit it to me via fax at 801.606.7304.

Lastly, once we have moved our current projects along, our board has committed to a stock repurchase program whereby PrimeHoldings will buy back large blocks of stock and retire them into treasury, thereby alleviating the dilution caused by the new additional shares. While we are presently not in a position to do right now, we would like to institute this program this year, if possible.

Thanks again to all of you for your support and help. Let's join together one last time to market our software product, finish our acquisition of Briza and other opportunities and begin marketing our products internationally and domestically and get our company, finally, into the “black”! It is time to thrive not just survive.

Kindest regards,

Thomas Aliprandi, CEO


All depends on the finalization of the acquisitions and I'm very sure we will see some results the coming weeks.

It was said to be completed before the end of February, but Tom's father was very sick and died last week. Tom was with his father (which is the right thing to do, your father is more important than closing a deal fast) and I expect a little delays.

Thanks for the info. Pres


Posts: 8024 | From: Joisey....see attitude above | Registered: Jan 2004  |  IP: Logged | Report this post to a Moderator
gmoney
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holding here

------------------
Gus


Posts: 575 | From: Orlando, FL, US | Registered: Jan 2004  |  IP: Logged | Report this post to a Moderator
Aladdin
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I never like to see a stock add more shares but I have to give credit to this companies ceo for openly admitting the need for more shares. Many of these companies we play we don't even know the O/S and the companies add to the shares through more deceptive accounting practices that are harder for the average investor to pick-up on. I am a little upset the stock dropped so much on this news. But I suppose it is only proportional to the increased shares. If my math is right at least. I believe they had around 800 million outstanding shares and adding 500 more would be 1.3 billion. And therefore our shares are dilluted by roughly 1/3 which was exactly todays drop. Therefore I would hope the price doesnt drop any further because at this price one can buy in the same stake they wanted in the company as they could have yesterday. Oh well, thats just my opinion so we'll see what tomorrow brings since today certainly didn't bring much except losses. good luck
Posts: 32 | From: chicago, il, usa | Registered: Jul 2003  |  IP: Logged | Report this post to a Moderator
presumptuous
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The added shares were necessary and he also announces that he will buy them back when they have the cash available. He needs the shares now to finish the acquisitions and to pay some people. He needs to hire at least 4 people. He is still not on the payroll, but the other people will be...

I'm sure we will see some real results this or next week...

pres


Posts: 116 | From: Vosselaar, Antwerp, Belgium | Registered: Dec 2003  |  IP: Logged | Report this post to a Moderator
presumptuous
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lil,

I don't mind. You should pass it on as much as possible... The letter is public info...

pres


Posts: 116 | From: Vosselaar, Antwerp, Belgium | Registered: Dec 2003  |  IP: Logged | Report this post to a Moderator
   

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