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» Allstocks.com's Bulletin Board » Micro Penny Stocks, Penny Stocks $0.10 & Under » Rascals International Inc. (OTCBB:RSCA) $0.07 (Page 3)

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Author Topic: Rascals International Inc. (OTCBB:RSCA) $0.07
be_cool
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Hi,

if we will see 0,08 again...for me it seems that will be the last chance to buy cheap ...I've never thought that we will see this level again ! ....bec the target 2004/2005 is 2$ per share (!) ....don't forget it ! ....so 0,08$/share is NOTHING ! ...it's a gift !

Ciao


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ChrisNC
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Whats the lastest entery exit point for this stock I want to get in and get free shares anyone think it can happen short term less than 2 weeks.

------------------
Chris


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littlebear
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anyone knows what is going on with this one.
it really gets me scared.....

thanks.


Posts: 2 | From: knoxville | Registered: Apr 2004  |  IP: Logged | Report this post to a Moderator
GREGDOGG
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Hey Guys, this was a great pick back when Bob picked it a month ago. It has already performed VERY well for those who got in early. It looks like the run is over for now.

I believe it was picked at .07 and then went down to .04 then jumped to .20

Remember, we are playing penny stocks, they are all QUICK buy's and sell's.

QBID is a temporary exception.


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MooseLite04
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I wouldn't worry to much especially today everything is down. I still think there is great potential in this one. Especially with this.

WEST ORANGE, N.J., Nov. 12 /PRNewswire-FirstCall/ -- Rascals
International Inc. (OTC Bulletin Board: RSCA) announced today that it has
obtained an equity based financing instrument to serve the Company's long term
capital needs. Rascals has entered into agreements with Cornell Capital
Partners, LP to provide RSCA with a $10,000,000 Standby Equity Distribution
Agreement, subject to an effective registration with the United States
Securities and Exchange Commission, covering the resale of the shares being
offered.
Pursuant to the terms of the Standby Equity Distribution Agreement with
Cornell Capital, Rascals has the right, but not the obligation, to
periodically require Cornell to purchase shares of RSCA common stock in
amounts up to $450,000 per month, to a maximum of $10 million over the course
of 24 months. The decision to sell common stock to Cornell Capital is
entirely at the discretion of Rascals, Inc. and there are no minimum drawdowns
required.
Commenting on the execution of the agreements with Cornell Capital, Ed
Rodriguez Chairman, CEO of Rascals stated, "This type of flexible financing
package will allow us to implement a more aggressive fundamental long term
business plan and enable the company to achieve its aggressive sales growth
expectations for fiscal year 2004."
"We anticipate opening three new Rascals comedy club locations, presently
in development, during the next 120 days. Our goal for 2004 is to open at
least four additional locations by year-end. The revenues generated from these
new clubs, combined with our aggressive acquisition strategy, should help
position us as one of the premier comedy club chains in the country. Rascals
is the only publicly traded comedy club operator in the U.S. currently."

They've got a pretty good backup. If we would be passing the 3/4 of the 24 month I would be scared too. But not at this point. I really do thing they finally getting the foot into the right door.

Also they are meeting there goal. Opening new standing comedy club as they said they would.

I'm still waiting on this. WEST ORANGE, NEW JERSEY – (January 14, 2004)-Rascals International Inc. (OTCBB: RSCA) announced today that it had signed a definitive purchase agreement to acquire 100% ownership of a nationally known chain of popular nightclubs. The purchase, for a combination of cash, stock and the assumption of debt, will add approximately $12.0 million of annual revenue, and a 20 percent pretax net to Rascals’ existing comedy club operations during the 2004 fiscal year. The parties anticipate closing the transaction in the First Quarter 2004.

Just a matter of time. I'm in no rush I keeping this one for a while.


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Lutalo
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I put in an order to pick up more shares of it... it looks like it has good potential it just hasnt gotten the attention that it needs yet.
Posts: 150 | From: Kiev Ukraine | Registered: Apr 2004  |  IP: Logged | Report this post to a Moderator
littlebear
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i hope it will get more attention soon
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rsnws
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Is anyone still watching this one?
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be_cool
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Hello,

I've bought some shares (like IBIZ too) ... RSCA will go to 1$ by the end of the year ... and maybe 2$ in 2005 .... all we need is some sleep ;-) ...and then wake up rich :-)

What RSCA need are some real numbers what shows that they on the right side and make real money/profit ! So wait for the next reports and we will see it's a good investment in the future ... hope so ;-)

...so be cool !


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MooseLite04
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We can borrow more money again starting next week. There's a new month coming in. Limit to 250 000$. Let's hope it will bring the price up again.
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MooseLite04
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We can borrow more money again starting next week. There's a new month coming in. Limit to 250 000$. Let's hope it will bring the price up again.
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joeyisthebest
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I found this just today not sure if it is good news or bad but I will post please let me know if it is good or bad for monday temanology is to rough for me. thanks
SCHEDULE 14C
(Rule 14c-101)


INFORMATION REQUIRED IN INFORMATION STATEMENT

Information Statement Pursuant to Section 14(c) of the
Securities Exchange Act of 1934

Check the appropriate box:

[x] Preliminary Information Statement [ ] Confidential, for use of the
Commission only
[ ] Definitive Information Statement

Rascals International, Inc.


(Name of Registrant as Specified In Its Charter)

Payment of Filing Fee (Check the appropriate box):

[x] No fee required.
[ ] Fee computed on table below per Exchange Act Rules 14c-5(g) and 0-11.
1) Title of each class of securities to which transaction applies:


.................................................................
2) Aggregate number of securities to which transaction applies:


.................................................................
3) Price per unit or other underlying value of transaction pursuant to Exchange Act Rule 0-11. (Set forth the amount on which the filing fee is calculated and state how it was determined.)

.................................................................

4) Proposed maximum aggregate value of transaction:

.................................................................

5) Total fee paid:

.................................................................

[ ] Fee paid previously with preliminary materials.

[ ] Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing.

1) Amount Previously Paid:

......................................

2) Form, Schedule or Registration Statement No.:

......................................

3) Filing Party:

......................................

4) Date Filed:

......................................


--------------------------------------------------------------------------------

RASCALS INTERNATIONAL, INC.
501 Bloomfield Avenue
Montclair, New Jersey 07042


INFORMATION STATEMENT
To the Holders of Common Stock:

The purpose of this Information Statement is to notify you that the holders of shares representing a majority of the Common Stock of Rascals International, Inc., have given their written consent to a resolution adopted by the Board of Directors of Rascals to amend the certificate of incorporation of Rascals so as to (1) change the name of the company to "Headliners Entertainment Group, Inc." and (2) increase the authorized number of common shares to 500,000,000. We anticipate that this Information Statement will be mailed on May 4, 2004 to shareholders of record. On or after May 25, 2004, the amendment to the Certificate of Incorporation will be filed with the Delaware Secretary of State and become effective.

Delaware corporation law permits holders of a majority of the voting power to take shareholder action by written consent. Accordingly, Rascals will not hold a meeting of its shareholders to consider or vote upon the proposed amendment to Rascals' certificate of incorporation.


WE ARE NOT ASKING YOU FOR A PROXY.
YOU ARE REQUESTED NOT TO SEND US A PROXY.
May 4, 2004 EDUARDO RODRIGUEZ, President

--------------------------------------------------------------------------------

VOTING SECURITIES AND PRINCIPAL SHAREHOLDERS
We determined the shareholders of record for purposes of this shareholder action at the close of business on March 29, 2004 (the "Record Date"). On the Record Date, 100,000,000 shares of common stock, par value $0.001, were authorized. Each share of common stock is entitled to one vote. On the Record Date, there were 15,179,366 shares of common stock issued, outstanding and entitled to vote.

Rascals has issued only one class of equity securities: its common stock. The following table sets forth information regarding the common stock beneficially owned (i) by any person who, to our knowledge, owned beneficially more than 5% of the common stock as of March 29, 2004 (ii) by all members of Rascals' Board of Directors, and (iii) by the directors and officers of Rascals as a group. None of the persons identified below owns any securities issued by Rascals other than the common stock listed below.


Amount and
Nature of
Name and Address Beneficial Percentage
of Beneficial Owner(1) Ownership(2) of Class
----------------------------------------------------------
Eduardo Rodriguez 3,533,404(3)(4) 23.3%

Michael Margolies 3,528,963(3)(4) 23.2%

Gary Marks 25,750 0.2%

All Officers and Directors
As a Group (3 persons) 4,810,905(3)(4)
31.7%
____________________________________


(1) Except as noted, the address of all shareholders is c/o Rascals International, Inc., 501 Bloomfield Avenue, Montclair, NJ 07042
(2) All shares are owned of record unless otherwise indicated.
(3) The shares beneficially owned by Messrs. Rodriguez and Margolies each include 1,000,000 shares subject to the terms of the Restricted Stock Grant Program.
(4) The shares beneficially owned by Messrs. Rodriguez and Margolies each include 1,638,606 shares owned of record by Rodmar Holdings, LLC and 638,606 shares owned of record by Marod Holdings, LLC. Mr. Rodriguez and Mr. Margolies are the two Managers of Rodmar and of Marod. Mr. Rodriguez' wife owns a 50% interest in Rodmar and a 50% interest in Marod in trust for their minor children. The remaining 50% interest in each LLC is owned by The Margolies Family Trust. The Trustee of the Margolies Family Trust is Mr. Margolies' spouse, and the beneficiaries of the Trust are Mr. Margolies' spouse and children.


AMENDMENT OF THE CERTIFICATE OF INCORPORATION
TO CHANGE THE NAME OF THE CORPORATION
The Board of Directors of Rascals has unanimously adopted a resolution to change the name of the corporation from "Rascals International, Inc." to "Headliners Entertainment Group, Inc." The holders of shares representing a majority of Rascals outstanding common stock have given their written consent to the resolution. Under Delaware corporation law, the consent of the holders of a majority of the shares is effective as shareholders' approval. We will file the Amendment with the Secretary of State of Delaware on or after May 25, 2004, and it will become effective on the date of such filing (the "Effective Date").

The name change has been approved because the new name better represents the corporation's business plan. Until recently the corporation's business was focused exclusively on the operation of the Rascals Comedy Clubs. The corporation intends to continue that business in the future, but will also be involved in other entertainment ventures.

Certificates for the corporation's common stock that recite the name "Rascals International, Inc." will continue to represent shares in the corporation after the Effective Date. If, however, a shareholder wishes to acquire a certificate reciting the name "Headliners Entertainment roup, Inc." after the Effective Date, he may do so by surrendering his certificate to Rascals' transfer agent with a request for a replacement certificate and the appropriate stock transfer fee. Rascals' transfer agent is:

Interwest Transfer Company, Inc. 1981 East 4800 South, Suite 100 Salt Lake City, UT 84117 Telephone: (801) 272-9294 Fax: (801) 277-3147


AMENDMENT OF THE CERTIFICATE OF INCORPORATION
TO INCREASE THE AUTHORIZED COMMON STOCK
The Board of Directors of Rascals has unanimously adopted a resolution to increase from 100,000,000 to 500,000,000 the number of shares of common stock authorized by the Certificate of Incorporation. The holders of shares representing a majority of Rascals outstanding common stock have given their written consent to the resolution. Under Delaware corporation law, the consent of the holders of a majority of the shares is effective as shareholders' approval. We will file the Amendment with the Secretary of State of Delaware on or after May 25, 2004, and it will become effective on the date of such filing (the "Effective Date").

The purpose of the increase is to enable Rascals to enter into arrangements for the sale of its equity that are needed in order to fund the implementation of its business plan. Rascals has not entered into any agreement to issue the additional shares. However it is currently party to an Equity Line of Credit Agreement with Cornell Capital Partners, LP, pursuant to which some of the additional shares may be issued.

The Equity Line of Credit Agreement provides that during the two years commencing January 8, 2004 Rascals may demand that Cornell Capital Partners purchase shares of common stock from Rascals. The aggregate maximum that Rascals may demand from Cornell Capital Partners is $10,000,000. The number of shares that Cornell Capital Partners will purchase after a demand will be determined by dividing the dollar amount demanded by a per share price. The per share price used will be 98% of the lowest daily volume-weighted average price during the five trading days that follow the date a demand is made by Rascals.

During 2004 Rascals has sold a total of 7,955,121 shares to Cornell Capital Partners pursuant to the terms of the Equity Line of Credit Agreement, and received $650,000 for those shares. In addition, Cornell Capital Partners has made loans to Rascals, the remaining balance of which totals $850,000. The loans will be satisfied at a rate of $50,000 per week by Rascals issuing shares to Cornell Capital Partners under the terms of the Equity Line of Credit Agreement. The number of shares that will be issued in this way will depend on the market price of Rascals' common stock from time to time. At present, by agreement with Cornell Capital Partners, Rascals has reserved 52,044,879 of its authorized common shares to be available for issuance if needed to satisfy the outstanding loans.

We do not know whether any of the additional shares being authorized will be needed to satisfy Rascals' obligation to Cornell Capital Partners, nor whether Rascals will otherwise sell any of those shares to Cornell Capital Partners pursuant to the Equity Line of Credit Agreement.


No Dissenters Rights
Under Delaware law, shareholders are not entitled to dissenters' rights with respect to the Reverse Split.


Posts: 795 | From: Brown Deer, WI 53223 | Registered: Feb 2004  |  IP: Logged | Report this post to a Moderator
stockguyDD
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that is the worst news ever in pennyland... sorry man.. but they are issuing an S-8... that usually devastates many penny stocks.. even small S-8s can be damaging... This is by no means a small S8.. the number of shares is now 500 million versus i think 50 million or less ... that is really bad... i would strongly consider selling before a PR comes out telling about the S8
Posts: 191 | From: Orange, CA | Registered: Jan 2004  |  IP: Logged | Report this post to a Moderator
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