posted
Exspect a sharp rise in this stock on Friday Due to a press release comming out tommorow after the bell I have been trying to find out why the stock all of a sudden has had such an active voulume build up in the past couple of days and finnally got an answer tongiht at 4:05 pm est from a company spokes person , though she would not go into details for legal reasons she did comment on a possible merger with another company and possibly a share buy out in the works i questioned that and she said something about a .0005 - .001 buy out yet again would not go into details she did say a press release describing the details of this would be made eighther friday morning or friday after the bell . Just figured i would give you guys a heads up on it Todays L2's where with only one ask at .0002 and everything else at .0003 and up Now that i got this info Im going to try and get in tommorow morning at the last .0002 good luck to everyone and hope this is a true statement if anyone has heared anything else please post and let me know what you have heared also what you think about the stock etc thanks
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posted
There has been a change in ownership, not sure about a possible buyout, but hopefully more good news to come. The "ask" is up to $1 (which is a joke), but which almost made me crap myself and I had an extra $3 million in equities overnight (apparently fidelity uses the ask price to figure the value of securites)
posted
EDGAR Online via COMTEX) -- UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549
FORM 8-K
CURRENT REPORT Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) June 27, 2005
Axia Group, Inc.
(Exact name of registrant as specified in its charter)
Nevada 001-09418 87-0509512 -------------------------------------------------------------------------------- (State or other jurisdiction (Commission (IRS Employer of incorporation) File Number) Identification No.)
5520 Wellesley Street, Suite 109, La Mesa, CA 91942 -------------------------------------------------------------------------------- (Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (619) 466-4928
1324 N. Magnolia Avenue, El Cajon, California 92020 ---------------------------------------------------------- (Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2.below):
|_| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
|_| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
|_| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
|_| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Section 1 - Registrant's Business and Operations
Item 1.01 Entry into a Material Definitive Agreement.
Change in Control. On June 27, 2005, Axia Group, Inc., or Axia, entered into a stock surchase Agreement by and among Axia, Jeffrey W. Flannery, and Richard F. Schmidt. Pursuant to the terms of the agreement, Mr. Schmidt sold 150,000 shares of Series C Preferred Stock and 5,000,000 shares of Series D Preferred Stock of Axia to Mr. Flannery for $75,000.00 in the form of $40,000.00 in cash and a secured note in the principal amount of $35,000.00, payable in two monthly installments of $17,500.00 each.
The holders of Series D Preferred Stock and the holders of our common stock shall be entitled to notice of any stockholders' meeting and to vote as a single class upon any matter submitted to the stockholders for a vote as follows: (i) the holders of Series D Preferred Stock shall have such number of votes as is determined by multiplying (a) the number of shares of Series D Preferred Stock held by such holder, (b) the number of issued and outstanding shares of our common stock (on a fully-diluted basis) as of the record date for the vote, or, if no such record date is established, as of the date such vote is taken or any written consent of stockholders is solicited, and (c) 0.0000004; and (ii) the holders of our common stock shall have one vote per share of common stock held as of such date. Accordingly, the sale and transfer of the 5,000,000 shares of the Series D Preferred Stock to Mr. Flannery effectively transferred control of Axia to Mr. Flannery.
In connection with this change in control, Mr. Schmidt resigned as President, Chief Financial Officer, and Secretary of Axia. The board of directors appointed Mr. Flannery as the new President, Chief Financial Officer, and Secretary.
Thereafter, Richard D. Mangiarelli resigned as a director of Axia. Mr. Schmidt, as the remaining sole director, appointed Mr. Flannery to fill the vacancy on the board of directors.
The sale of the shares of Series B Preferred Stock was exempt from registration under the Securities Act of 1933, as amended, pursuant to Section 4(1) of the Securities Act (under the so-called "4(1 1/2) exemption" of the Securities Act).
Item 1.02 Termination of a Material Definitive Agreement.
Not Applicable.
Item 1.03 Bankruptcy or Receivership.
Not Applicable.
Section 2 - Financial Information
Item 2.01 Completion of Acquisition or Disposition of Assets.
See Item 1.01.
Item 2.02 Results of Operations and Financial Condition.
Not Applicable.
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Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
Not Applicable.
Item 2.04 Triggering Events That Accelerate or Increase a Direct Financial Obligation or an Obligation Under an Off-Balance Sheet Arrangement.
Not Applicable.
Item 2.05 Costs Associated with Exit or Disposal Activities.
Not Applicable.
Item 2.06 Material Impairments.
Not Applicable.
Section 3 - Securities and Trading Markets
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard: Transfer of Listing.
Not Applicable.
Item 3.02 Unregistered Sales of Equity Securities.
See Item 1.01.
Item 3.03 Material Modification to Rights of Security Holders.
Not Applicable.
Section 4 - Matters Related to Accountants and Financial Statements
Item 4.01 Changes in Registrant's Certifying Accountant.
Not Applicable.
Item 4.02 Non-Reliance on Previously Issued Financial Statements or a Related Audit Report or Completed Interim Review.
Not Applicable.
Section 5 - Corporate Governance and Management
Item 5.01 Changes in Control of Registrant.
See Items 1.01, 5.02.
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Item 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers.
On June 27, 2005, Richard F. Schmidt resigned as President, Chief Financial Officer, and Secretary of Axia. The board of directors appointed Jeffrey W. Flannery as the new President, Chief Financial Officer, and Secretary.
Thereafter, Richard D. Mangiarelli resigned as a director of Axia. Mr. Schmidt, as the remaining sole director, appointed Mr. Flannery to fill the vacancy on the board of directors.
Jeffrey W. Flannery is has been a director of Axia and its President, Chief Financial Officer, and Secretary since June 27, 2005. Mr. Flannery brings extensive experience in business development and fiscal management to these positions with Axia Group, Inc. He is currently serving as Chief Executive Officer and Chief Financial Officer of Centrex, Inc., a company which is commercializing a patented technology for biochemical detection systems. Previously, Mr. Flannery was the founder and Chief Executive Officer of Enhanced Information Systems, Inc., an online home health care provider for the pharmacy industry, Vice President of Development for IUSA, an information technology company, and Vice President of Corporate Communications for Center For Special Immunology, a public company dedicated to medical treatments for immune disorders. As President of FLC Partners, Inc., an investment banking services company, Mr. Flannery has provided financial consulting and business development services for many public and private companies. Mr. Flannery received his B.A in Philosophy from the University of California Los Angeles.
Item 5.03 Amendments to Articles of Incorporation or Bylaws: Change in Fiscal Year.
Not Applicable.
Item 5.04 Temporary Suspension of Trading Under Registrant's Employee Benefit Plans.
Not Applicable.
Item 5.05 Amendments to the Registrant's Code of Ethics, or Waiver of a Provision of the Code of Ethics.
Not Applicable.
Section 6 - [Reserved]
Not Applicable.
Section 7 - Regulation FD
Item 7.01 Regulation FD Disclosure.
Not Applicable.
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Section 8 - Other Events
Item 8.01 Other Events.
Axia has moved its principal offices to the following address:
Axia Group, Inc. 5520 Wellesley Street, Suite 109 La Mesa, CA 91942 (619) 466-4928
Section 9 - Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits.
(a) Financial statements of businesses acquired.
Not Applicable.
(b) Pro forma financial information.
Not Applicable.
(c) Exhibits.
Exhibit # Description --------- -----------
10.1 Stock Purchase Agreement by and between Jeffrey Flannery, Richard F. Schmidt, and Axia Group, Inc.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
AXIA GROUP, INC. (Registrant)
Date: July 15, 2005 By: /s/ Jeffrey W. Flannery -------------------------------------- Jeffrey W. Flannery, President, Chief Financial Officer, and Secretary
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AXIA GROUP, INC.
STOCK PURCHASE AGREEMENT
This Stock Purchase Agreement ("Agreement") is made as of the 27th day of June, 2005, by and between Jeffrey Flannery (the "Purchaser"), Richard F. Schmidt (the "Seller"), and Axia Group, Inc., a Nevada corporation (the "Company").
RECITALS --------
A. The Seller owns 150,000 shares (the "Series C Shares") of Series C Preferred Stock, $0.001 par value per share (the "Series C Preferred Stock") and 5,000,000 shares (the "Series D Shares") of Series D Preferred Stock, $0.001 par value per share (the "Series D Preferred Stock") of the Company. The Series C Shares and the Series D Shares are collectively referred to as the "Shares").
B. The Seller desires to sell the Shares to the Purchaser, and the Purchaser desires to purchase the Shares from the Seller, on the terms and subject to the conditions set forth herein.
AGREEMENT ---------
It is agreed as follows:
1. PURCHASE AND SALE OF SHARES. In reliance upon the representations and warranties of the Seller and the Purchaser contained herein and subject to the terms and conditions set forth herein, at Closing, the Purchaser shall purchase, and the Seller shall sell to the Purchaser, the Shares, for $75,000.00 (the "Purchase Price") in the form of $40,000.00 in cash and a secured note in the principal amount of $35,000.00 in the form attached hereto as Exhibit A.
2. CLOSING(S).
2.1 Date and Time. Subject to all of the terms and conditions set forth in this Agreement being satisfied, the closing of the sale of Shares contemplated by this Agreement (the "Closing") shall take place at the offices of the Seller's counsel or at such other place as the Seller and the Purchaser shall agree in writing concurrently with the execution of this Agreement (the "Closing Date").
2.2 Deliveries by Purchaser. The Purchaser shall deliver the following to the Seller:
2.2.1 A check in the amount of $40,000.00.
2.2.2 A secured note in the principal amount of $35,000.00 in the form attached hereto as Exhibit A (the "Note"), duly executed by the Purchaser.
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2.2.3 A pledge agreement (the "Pledge Agreement") in the form attached hereto as Exhibit B, duly executed by the Purchaser.
2.3 Deliveries by Seller. At the Closing, the Seller will deliver the following to the Purchaser:
2.3.1 The certificates representing the Shares, duly endorsed or delivered with blank stock powers appropriately executed, in the name of the Purchaser, against delivery to the Seller by the Purchaser of the items set forth in paragraph 2.2 above.
2.3.2 The Pledge Agreement, duly executed by the Seller.
2.3.3 The complete original articles of incorporation, bylaws, minutes, and other corporate books and records, all as amended to date, of the Company.
2.3.4 A list of all SEC and EDGAR codes for the Company.
2.3.5 Resignation of Richard F. Schmidt as President, Chief Financial Officer, and Secretary of the Company.
2.3.6 Resolutions of the board of directors appointing Jeffrey Flannery as President, Chief Financial Officer, and Secretary of the Company.
2.3.7 Resignation of Richard D. Mangiarelli as a director of the Company.
2.3.8 Resolutions of the board of directors appointing Jeffrey Flannery as a director of the Company.
3. REPRESENTATIONS AND WARRANTIES OF THE SELLER.
As a material inducement to the Purchaser to enter into this Agreement and to purchase the Shares, the Seller represents and warrants that the following statements are true and correct in all material respects as of the date hereof and will be true and correct in all material respects at Closing, except as expressly qualified or modified herein.
3.1 Organization and Good Standing. The Company is a corporation duly organized, validly existing, and in good standing under the laws of the State of Nevada and has full corporate power and authority to enter into and perform its obligations under this Agreement, and to own its properties and to carry on its business as presently conducted and as proposed to be conducted. The Company is duly qualified to do business as a foreign corporation in every jurisdiction in which the failure to so qualify would have a material adverse effect upon the Company.
3.2 Validity of Transactions. This Agreement, and each document executed and delivered by the Seller in connection with the transactions contemplated by this Agreement, have been duly authorized, executed and delivered by the Seller and is each the valid and legally binding obligation of the Seller, enforceable in accordance with its terms, except as limited by applicable bankruptcy, insolvency reorganization and moratorium laws and other laws affecting enforcement of creditor's rights generally and by general principles of equity.
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3.3 Valid Issuance of Shares. The Shares that are being sold to the Purchaser hereunder are duly and validly issued, fully paid and nonassessable and free of restrictions on transfer, other than restrictions on transfer under this Agreement and under applicable federal and state securities laws, will be free of all other liens and adverse claims.
3.4 Title to Shares. The Seller is the sole record and beneficial owner of the Shares, free and clear of all liens, encumbrances, equities, assessments and claims, and, upon delivery of the Shares by the Seller and payment of the Purchase Price in full by the Purchaser pursuant to this Agreement, the Seller will transfer to the Purchaser valid legal title to the Shares, free and clear of all liens, encumbrances, equities, assessments and claims.
3.5 No Violation. The execution, delivery and performance of this Agreement will not violate any law or any order of any court or government agency applicable to the Company, as the case may be, or the Articles of Incorporation or Bylaws of the Company, and will not result in any breach of or default under, or, except as expressly provided herein, result in the creation of any encumbrance upon any of the assets of the Company pursuant to the terms of any agreement or instrument by which the Company or any of its assets may be bound. No approval of or filing with any governmental authority is required for the Company to enter into, execute or perform this Agreement.
3.6 SEC Reports and Financial Statements. The Company has delivered or made available to the Purchaser accurate and complete copies (excluding copies of exhibits) of each report, registration statement and definitive proxy statement filed by the Company with the SEC since January 1, 2001 (collectively, with all information incorporated by reference therein or deemed to be incorporated by reference therein, the "SEC Reports"). The information in the SEC Reports, taken as a whole, was true and correct in all material respects as of the filing date and did not contain any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements therein, in light of the circumstances under which they were made, not misleading.
3.7 Securities Law Compliance. Assuming the accuracy of the representations and warranties of the Purchaser set forth in Section 4 of this Agreement, the offer, sale and delivery of the Shares will constitute an exempted transaction under the Securities Act of 1933, as amended and now in effect ("Securities Act"), and registration of the Shares under the Securities Act is not required. The Company shall make such filings as may be necessary to comply with the Federal securities laws and the blue sky laws of any state, which filings will be made in a timely manner.
3.8 Qualifications, Legal and Investment. All authorizations, approvals, or permits, if any, of any governmental authority or regulatory body of the United States including "blue sky" filings in any state that are required in connection with the lawful sale of the Shares pursuant to this Agreement have been or will be, on a timely basis, duly obtained and are effective. No stop order or other order enjoining the sale of the Shares have been issued and no proceedings for such purpose are pending or, to the knowledge of the Seller, threatened by the SEC, or any commissioner of corporations or similar officer of any state having jurisdiction over this transaction. The sale of the Shares is legally permitted by all laws and regulations to which the Purchaser, the Seller, and the Company are subject.
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4. REPRESENTATIONS AND WARRANTIES OF THE PURCHASER.
The Purchaser hereby represents, warrants, and covenants with the Seller as follows:
4.1 Legal Power. The Purchaser has the requisite power to enter into this Agreement, to purchase the Shares hereunder, and to carry out and perform its obligations under the terms of this Agreement.
4.2 Due Execution. This Agreement has been duly executed and delivered by Purchaser, and, upon due execution and delivery by the Seller, this Agreement will be a valid and binding agreement of the Purchaser.
4.3 Receipt and Review of SEC Reports. The Purchaser represents that it has received and reviewed the SEC Reports and have been given full and complete access to the Company for the purpose of obtaining such information as the Purchaser or its qualified representative have reasonably requested in connection with the decision to purchase the Shares. The Purchaser represents that it has been afforded the opportunity to ask questions of the officers of the Company regarding its business prospects and the Shares, all as the Purchaser or its qualified representative have found necessary to make an informed investment decision to purchase the Shares.
4.4 Restricted Securities. The Purchaser has been advised that the Shares have not been registered under the Securities Act or any other applicable securities laws and that the Shares are being offered and sold pursuant to the so-called "Section 4(1 1/2) exemption" of the Securities Act, and that the Seller's reliance upon the so-called "Section 4(1 1/2) exemption" is predicated in part on the Purchaser's representations as contained herein.
4.4.1 The Purchaser is an "accredited investor" as defined under Rule 501 under the Securities Act.
4.4.2 The Purchaser acknowledges that the Shares have not been registered under the Securities Act or the securities laws of any state and are being offered, and will be sold, pursuant to applicable exemptions from such registration for nonpublic offerings and will be sold as "restricted securities" as defined by Rule 144 promulgated pursuant to the Securities Act. The Shares may not be resold in the absence of an effective registration thereof under the Securities Act and applicable state securities laws unless, in the opinion of the Company's counsel, an applicable exemption from registration is available.
4.4.3 The Purchaser is acquiring the Shares for its own account, for investment purposes only and not with a view to, or for sale in connection with, a distribution, as that term is used in Section 2(11) of the Securities Act, in a manner which would require registration under the Securities Act or any state securities laws.
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4.4.4 The Purchaser understands and acknowledges that the Shares will bear the following legend:
THE SECURITIES EVIDENCED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR THE SECURITIES LAWS OF ANY STATE. THE SECURITIES HAVE BEEN ACQUIRED FOR INVESTMENT AND MAY NOT BE SOLD OR TRANSFERRED FOR VALUE IN THE ABSENCE OF AN EFFECTIVE REGISTRATION THEREOF UNDER THE SECURITIES ACT OF 1933 AND/OR THE SECURITIES ACT OF ANY STATE HAVING JURISDICTION OR AN OPINION OF COUNSEL ACCEPTABLE TO THE CORPORATION THAT SUCH REGISTRATION IS NOT REQUIRED UNDER SUCH ACT OR ACTS.
4.4.5 The Purchaser acknowledges that an investment in the Shares is not liquid and is transferable only under limited conditions. The Purchaser acknowledges that such securities must be held indefinitely unless they are subsequently registered under the Securities Act or an exemption from such registration is available. The Purchaser is aware of the provisions of Rule 144 promulgated under the Securities Act, which permits limited resale of securities purchased in a private placement subject to the satisfaction of certain conditions and that such Rule is not now available and, in the future, may not become available for resale of the Shares.
4.5 Purchaser Sophistication and Ability to Bear Risk of Loss. The Purchaser acknowledges that it is able to protect its interests in connection with the acquisition of the Shares and can bear the economic risk of investment in such securities without producing a material adverse change in Purchaser's financial condition. The Purchaser otherwise has such knowledge and experience in financial or business matters that it is capable of evaluating the merits and risks of the investment in the Shares.
4.6 Purchases by Groups. The Purchaser represents, warrants, and covenants that it is not acquiring the Shares as part of a group within the meaning of Section 13(d)(3) of the Securities Exchange Act of 1934, as amended.
5. COVENANTS.
5.1 Further Assurances; Cooperation. Each party hereto will, before, at, and after the Closing, execute and deliver such instruments and take such other actions as the other party or parties, as the case may be, may reasonably require in order to carry out the intent of this Agreement. Without limiting the generality of the foregoing, at any time after the Closing, at the request of the Company or the Purchaser, and without further consideration, the Seller (a) will execute and deliver such instruments of sale, transfer, conveyance, assignment and confirmation and take such action as the Company or the Purchaser may reasonably deem necessary or desirable in order to more effectively transfer, convey and assign to the Purchaser, and to confirm the Purchaser's title to, the Shares, and (b) will execute such documents as and take such action as the Company or the Purchaser may reasonably deem necessary or desirable in order to prepare and file any future SEC Reports that the Company seeks to file with the Securities and Exchange Commission under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended.
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5.2 Covenants of the Purchaser. Until the Note has been paid in full, the Purchaser shall not directly or indirectly, offer, issue, sell, contract to sell (including, without limitation, any short sale), grant any option for the sale of, pledge, or otherwise dispose of or transfer any of the Shares.
5.3 Covenants of the Company. Until the Note has been paid in full, the Company shall not do any of the following without the prior written consent of the Seller, and such action taken by the Company without the prior written consent of the Seller shall be void ab initio):
5.3.1 Amend any of the terms of the Company's Series C Preferred Stock or Series D Preferred Stock; or
5.3.2 Issue any shares of any class or series of preferred stock of the Company.
6. MISCELLANEOUS.
6.1 Governing Law. This Agreement shall be governed by and construed under the laws of the State of California. Each party hereby irrevocably submits to the exclusive jurisdiction of the state and federal courts sitting in the county of Orange, State of California, for the adjudication of any dispute hereunder or in connection herewith or with any transaction contemplated hereby or discussed herein and hereby irrevocably waives, and agrees not to assert in any suit, action or proceeding, any claim that it is not personally subject to the jurisdiction of any such court, that such suit, action or proceeding is improper. Each party hereby irrevocably waives personal service of process and consents to process being served in any such suit, action or proceeding by mailing a copy thereof to such party at the address in effect for notices to it under this Note and agrees that such service shall constitute good and sufficient service of process and notice thereof. Nothing contained herein shall be deemed to limit in any way any right to serve process in any manner permitted by law.
6.2 Successors and Assigns. Except as otherwise expressly provided herein, the provisions hereof shall inure to the benefit of, and be binding upon, the successors, assigns, heirs, executors, and administrators of the parties hereto.
6.3 Entire Agreement. This Agreement and the Exhibits hereto and thereto, and the other documents delivered pursuant hereto and thereto, constitute the full and entire understanding and agreement among the parties with regard to the subjects hereof and no party shall be liable or bound to any other party in any manner by any representations, warranties, covenants, or agreements except as specifically set forth herein or therein. Nothing in this Agreement, express or implied, is intended to confer upon any party, other than the parties hereto and their respective successors and assigns, any rights, remedies, obligations, or liabilities under or by reason of this Agreement, except as expressly provided herein.
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6.4 Severability. In case any provision of this Agreement shall be invalid, illegal, or unenforceable, it shall to the extent practicable, be modified so as to make it valid, legal and enforceable and to retain as nearly as practicable the intent of the parties, and the validity, legality, and enforceability of the remaining provisions shall not in any way be affected or impaired thereby.
6.5 Amendment and Waiver. Except as otherwise provided herein, any term of this Agreement may be amended, and the observance of any term of this Agreement may be waived (either generally or in a particular instance, either retroactively or prospectively, and either for a specified period of time or indefinitely), with the written consent of the Seller and the Purchaser. Any amendment or waiver effected in accordance with this Section shall be binding upon each future holder of any security purchased under this Agreement (including securities into which such securities have been converted) and the Seller.
6.6 Notices. All notices and other communications required or permitted hereunder shall be in writing and shall be effective when delivered personally, or sent by telex or telecopier (with receipt confirmed), provided that a copy is mailed by registered mail, return receipt requested, or when received by the addressee, if sent by Express Mail, Federal Express or other express delivery service (receipt requested) in each case to the appropriate address set forth below:
If to the Seller: Richard F. Schmidt 9444 Waples Street, Suite 290 San Diego, CA 92121
If to the Purchaser: Jeffrey Flannery 4275 Executive Square Drive, Suite 215 La Jolla, CA 92037
If to the Company: Axia Group, Inc. 5520 Wellesley Street, Suite 109 La Mesa, CA 91942
6.7 Titles and Subtitles. The titles of the paragraphs and subparagraphs of this Agreement are for convenience of reference only and are not to be considered in construing this Agreement.
[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]
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IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first set forth above.
PURCHASER: Jeffrey Flannery
/s/ Jeffrey Flannery --------------------
SELLER: Richard F. Schmidt
/s/ Richard F. Schmidt ----------------------
COMPANY: Axia Group, Inc.
/s/ Richard F. Schmidt ---------------------- By: Richard F. Schmidt President
(Signature Page to Stock Purchase Agreement)
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Jun 27, 2005
(c) 1995-2005 Cybernet Data Systems, Inc. All Rights Reserved
posted
Could be, but I doubt many people will buy in. Personally, I would like the company to do a buyback and restor some confidence. The problem is that this is the third "new" management in the last 6 months and the last two did nothing after the D&R crane rescission.
posted
I'd be interested to know how much people could get AXAI for. I see some sells at .0001, but the ask was at $1 all day. I assume if you did a market order it wouldn't cost you $1, but I wonder what the mm's are up to on this one. The par value on this stock is .001, and the o/s is now over 200 million, so I am assuming that the nearly 200 million in dilution must have cost the mm's some money as well and they will have a serious incentive to let this run. Certainly, all short positions have been covered and this is at rock bottom. We shall see, interesting enough to follow anyway. I made some good money on this one a while back (swinging it from .0003 to .0009) and I bought back in a few million shares a month or so back just to see what happens.
posted
this stock is done its way over done the l2's on this stock are as follows 3x.0001 2x.0002 and so on and thats the ask's the bids are well lets put it this way there are no bids because mm's are just trying to get rid of there shares this company is done unless it has another r/s its done that news about a possible buyout i was talking about befour is s h i t it was a mistake someone from the company started its really just the opposite of being good and all that selling a couple weeks ago at .0001 that was insider trading so i hear because the company was trying to get out at .0001 now it screwed over some of the mm's so that cant even get out at that price be very carefull i guesse there is a chance something could change but i would not waste my money into it good luck
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posted
Yeah I'm just holding mine anyway--like i said i made plenty of money on this and there is no sense selling out at .0001. But, the ask, at least on Ameritrade, Fidelity, and MBTrading was, for no real reason, at $1 all day. I know because Fidelity had my account valued at 4.8 million this morning, which gave my heart a little flutter.
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