posted
I think there was a reverse split so O/s must be low and here is some news
Reality Wireless Networks Announces Letter of Intent to Acquire $29 Million Diversified Trading Company
By BusinessWire Last Update: 7/13/2005 9:55:02 AM Data provided by
GIG HARBOR, Wash., Jul 13, 2005 (BUSINESS WIRE) -- Reality Wireless Networks, Inc. (RWNW) and Arabian Recab Trading Company ("ARTC") jointly announced that they have entered into a letter of intent proposing a merger whereby Reality would issue common stock for all the issued and outstanding shares and interests of ARTC. ARTC (and its predecessor organization) is a 25 year old Saudi Arabian company focused primarily on the transportation industry. For the year ended December 31, 2004, ARTC generated more than 111,750,000 Saudi Riyal (approximately $29 million USD).
ARTC operates four primary divisions:
-- Auto & Equipment
-- Transportation & Logistics
-- Private Transportation (Buses)
-- Building Materials & Concrete Products
The Auto & Equipment division imports and sells commercial vehicles from Mercedes Benz (among others), as well as commercial and passenger vehicles manufactured by Toyota, Mitsubishi, Hyundai and Volkswagen. ARTC sells through showroom facilities in Riyadh, Jeddah and Dammam. This division also supplies equipment to fleet owners and private dealers for auto maintenance.
The Transportation and Logistics division (Road Freight, International Freight Forwarding, Bulk Shipments) owns and operates nearly 300 tractor units (and similar equipment). ARTC has significant contracts with major firms such as SABIC, which is a leading global petrochemical company, HADDID, SAFOLA and others to carry goods within Saudi Arabia and throughout the Gulf. Additionally, ARTC has contracts with sole agents of Toyota, Nissan, Mitsubishi and others to transport new vehicles throughout Saudi Arabia and to and from other Arab nations.
The Private Transportation division operates approximately 250 buses (US School type) in Riyadh, Jeddah and Dammam (as well as other locations) under contract for the transportation of students, teachers, defense personnel and government employees.
The Building Materials & Concrete Products division operates concrete ready-mix facilities, cement block making, stone and granite crushing and polishing plants in Jeddah and Mecca.
Steve Careaga, CEO of Reality, stated that, "We are delighted to have the opportunity to engage in a merger with the Arabian Recab Trading Company. The opportunities in transportation, logistics and construction throughout Saudi Arabia and other Gulf states are tremendous. We expect that this merger will enable Reality shareholders to participate in a substantive company in a region and industry that should potentially see incredibly rapid growth over the next decade."
The companies intend that following the closing of the transaction, Reality will change its name to Recab International, Inc. The proposed transaction is subject to customary closing conditions, including approval from Reality's and ARTC's stockholders.
Separately, Reality Wireless Networks, Inc., and PeopleMatter, Inc., agreed to terminate their Letter of Intent, thereby canceling the proposed merger agreement between the parties, effective immediately.
About Reality Wireless Networks Inc.
Reality Wireless Networks, Inc., a publicly-traded Nevada corporation, previously offered broadband wireless services through hybrid networks including fixed wireless, 802.11, and fiber to markets either underserved or not served by DSL and cable modem technologies. Reality has shifted focus to seek growth opportunities in the wireless marketplace and related product industries ir@realitynetworks.com. More information about Reality Wireless Networks Inc. can be found at www.sec.gov.
NOTE: Information contained in this press release, other than historical information, should be considered forward-looking in nature and is subject to various risks or uncertainties and assumptions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated or expected. Among the key factors that may have a direct bearing on the operating results, performance or financial condition are the company's ability to achieve and manage growth; the company's ability to successfully identify suitable acquisition candidates, complete acquisitions or integrate the acquired business into its operations; the company's ability to attract and retain qualified personnel; the company's ability to secure necessary financing; potential litigation by shareholders and/or former or current advisors against the company; the company's success in securing third-party commitments, production agreements and/or licensing contracts; the company's ability to comply with federal, state and local government regulations and/or unforeseen changes in federal or and government regulation; and the company's ability to develop new services; and other factors discussed in Reality's filings with the Securities and Exchange Commission.
For further information, please contact Steve Careaga at 253-853-3632, or send correspondence to 4916 Point Fosdick Dr., Suite 102, Gig Harbor, WA 98335
SOURCE: Reality Wireless Networks, Inc.
-------------------- EVERY Day ABOVE GROUND is a GREAT DAY!!!
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posted
there won't be much of a pullback... this will rock and don't be amazed if this goes up 100% each day as more people learn of the news and the merger.
My buddy was in Saudi Arabia, active army Transportation SFC, and he says it's a major transportation Saudi Company....
He was there 3 years ago, before we started pulling most of our troops from KSA
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Member Rated: posted 18-06-2005 02:16 -------------------------------------------------------------------------------- SUBJECT: RE: RWNW is one good gamble???? stock symbol was RWLNE, then it changed to RWLN and now, after a 400:1 reverse split, it is RWNW. The company originally was involved in high speed inernet access for rural markets in norhtern California where DSL and cable service were not available. However, it wasn't profitable and so they teamed up with Genesis Electronics which, after years of research and develpement, had developed a small solar powered recharger for hand held cell phones that is more efficient than other similar devices and delevers maximum power transfer from its photovotaic cell. They obtained one million dollars in financing from an institutional source and have received a $2,700,000 order from Digital Wireless for their Sun Blazer mobile electronic power holster for cell phones. And now they are developing a Sun Blazer that will recharge iPods. http://www.stockhouse.ca/news/news.asp?newsid=2739716&tick=RWLN
They have just finished a 400:1 reverse split which they had previously announced http://www.stockhouse.ca/bullboards/viewmessage.asp?no=9534000&t=0&all=0&TableID=1 and as of 05-27-05 they have 1,011,937 shares. As I stated at the start, most stocks fall after a reverse split and this was no exception. What is the exception is that this looks like it is a solid company, and so the drop will probably only be temporary, and since there are fewer shares now, any buying pressure will tend to make it easier for it to climb upward. And so, all things considered, this could be a very profitable buying opportunity. After a reverse split stocks tend to drop steeply, but then level off and it is at that point that you can buy in. I don't know if we have reached that point yet and so I will watch it for awhile. Even though it is a gamble, I think that it is a good gamble. Prior to the split, the lowest it went (one time) was .0006, most of the time it bounced between .0012 and .0032, with one spike to .0042. Now with a post split price of .015 (one and a half pennies/share) that is equivalent to a pre-split price of 0.0000375, which is somewhat below its pre-split low of .006, and yet, if the mergers fall into place, it will be a stronger stock than it was at the pre-split price of .0042 which is over 100 times its present price. Previously, on the announcement of acquiring the company that makes Sunblazers, it went from .001 to .004 in three days and then settled mostly around the .002 level, until it did the kiss of death and did the reverse split. If it gives out some good merger news, the stock could take off so fast that it might be hard to catch the early up move, and once it goes up, it may stay up in the new range. If it keeps dropping and goes from todays price of .015 to .0075 I will buy some and not wait to see if it will drop any more, just to make sure that I have some in case it takes off. If it continues going down from there, I can always buy more. But if it did take off from there and hit or even passed its previous high, that would be a price 200x its present price. So a $2,500 investment would then be worth half a million dollars, and if it went on to new highs, the $2,500 investment could be worth a million dollars. And with this stock, I think that there is a possibility that that could happen. Most penny and micropenny (stocks below one cent) are in that range, ether because they have hundreds of millions or billions of shares, or because they are stocks of rotten companies. This stock, instead, seems to be a potentially strong stock. It is not often that you find something with these possibilities. Of course, though, it is still a gamble, because if the deals may fall through and the price could go from it's present price of .015 to .0001 It's up to you.
After the reverse split, as far as I could find out, the company ended up with 1,011,937 shares. Because of the fewer number of shares, volume has been really low since the split. But yesterday almost 3 1/2 million shares changed hands and today 1,345,317 shares traded, which means more shares traded today than there are shares outstanding and yesterday it was 3 1/2 . Could it mean that all the weak hands sold their stock and that the rest are now in the hands of people that don't want to sell? If so, the price may start climbing. If it was insiders that know that every thing is falling apart, then, well, watch out below. But if the stock starts edging up from here, then it could mean that everything is still proceeding as planned, and in that case, we may now start to see a price rise.
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posted
you people have a verygood opportunity here i have been in this right after its 400 for one r/s it was plain they were looking for a merger partner the 2 they were interesred in and visa versa ere genesis electric and people matter as you can see by my postthat star gazer posted. i thought this bottomed at a little over one this was right out of left field to me i am going to get in at these prices if this goes what a return you will be looking at imho glta
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posted
S-8 is share issuance to cover stock options or purchase plan or something like that.... many times when S-8 announced the price actually goes up for some wacky reason...like 3 days in a row or more and can be up big like 400 - 1000% as they maybe try to pump it to issue the shares at a high amount or something??? someone chime in on why S-8's make price go up... you tend to see big lots on level 2 like 3m shares or 9m shares and they go by outside the bid ask spread sometimes... it's weird
so this thing could triple from here possibly
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