quote:Originally posted by eric23: nice move adding shares, jp!
Thanks eric. I see a whole lot of upside to this play at these prices.
This company will put out financials that will not look so good until you compare them to the previous year. They spent alot of money getting this software developed and marketed. The kicker will be the revenue they had with only 3 months of the product being rolled out.
This will make $$$$$
-------------------- A day without dreams is just a nightmare! Posts: 1702 | From: Michigan | Registered: Oct 2003
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posted
well, crud--I thought I could go right to it...something I read in my first pass that mentioned debt and conversion of debt to stock...I should've copied it then, but didn't do it, and right now I'm too tired to wade through it. Anybody's gotta admit: that's a heckuva filing. Anyway, just got in from a long installation, and I'm wore smooth out right now. Will try to find it again, tomorrow, eric.
posted
Hey - the o/s has gone from 28.6 million to 42.7 million in the last 6 months - the float is now 32.5 million - there are still open SB-2's and 424b3's for a substantial amount of shares - they are paying for things with shares ie: "investors", services etc. They have almost no cash and I would assume will continue to pay for things with shares until and if Spare brings in revenue. They are diluting and it looks like it will continue - their loss was substantially reduced which helps - I think it all is hinging on Spare and how much revenue it's generating. Just my .40 worth.
-------------------- ......in Psychiatry circles it's known as a "warning sign" Posts: 1736 | From: Saint Louis | Registered: Jul 2005
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posted
May be there are somethings in the filing that coincides with the timing of the big pump and dump started by Frogster. The SEC might be interested given the past of the CEO Cery Perle.
"Historically, our operations have been financed primarily through the issuance of equity and debt. Because we have a history of losses and have never generated sufficient revenue to fund our ongoing operations, we are dependent on our continued ability to raise working capital through the issuance of equity or debt to fund our present operations. Because we do not know if our revenues will grow at a pace sufficient to fund our current operations, the continuation of our operations and any future growth will depend upon our ability to raise additional capital, possibly through the issuance of long-term or short-term indebtedness or the issuance of our equity securities in private or public transactions."
"We have generated minimal revenue since our inception on June 12, 2002, and have incurred net losses of approximately $33.1 million since inception through December 31, 2005"
"WE HAVE OUTSTANDING $793,319 PRINCIPAL AMOUNT 8% PROMISSORY NOTES WHICH WERE DUE ON MARCH 1, 2006 AND DO NOT PRESENTLY HAVE SUFFICIENT CASH TO SATISFY THE OBLIGATIONS ."
Posts: 82 | Registered: Jul 2005
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quote:WE HAVE OUTSTANDING $793,319 PRINCIPAL AMOUNT 8% PROMISSORY NOTES WHICH WERE DUE ON MARCH 1, 2006 AND DO NOT PRESENTLY HAVE SUFFICIENT CASH TO SATISFY THE OBLIGATIONS.
Between October 2003 and March 2004, we sold 8% promissory notes of which $793,319 principal amount remains outstanding on March 31, 2006. These notes, together with all accrued but unpaid interest, were due on March 1, 2006. We did not pay the notes when due and do not presently have sufficient cash to satisfy the obligations. The notes are unsecured obligations of our company and are convertible into shares of our common stock at the option of the holder at a conversion price of $0.375 per share. [ my emphasis --tex ]
So, not attractive at these levels but 75-80? Holders may decide to convert; that' what struck me as I read it...
posted
This stock was NOT pumped. Yes, froggy was promoting it, but warned everybody to do their DD. If anybody bought at $.50 and sold at $1.40 and rebought back at $.50, they would be smiling like me.
Everybody has always stated that this company was heavily in debt. The pps would not move until Spare showed revenue.
I will still sit on this until 1st quarter results are released. If they continue to increase revenue quarterly, then they will fly. If not, it will be worthless.
They have reduced their operating expense and generated increased revenue. If the trend continues, this will be a good long hold.
-------------------- A day without dreams is just a nightmare! Posts: 1702 | From: Michigan | Registered: Oct 2003
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posted
yeah i understand. i cant believe we are back to levels even lower than the old 52 week lows, when nothing was in the works....i guess the price is all speculative though. i'm forced to ride the wave and agree if revenues go up, we can improve
Posts: 1013 | Registered: Jul 2005
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posted
Still there with you. I'm glad to see some profit in the last Q. Hopefully the trend will continue.
-------------------- Good judgment comes from experience, and often experience comes from bad judgment. Posts: 242 | From: Canada | Registered: Jul 2005
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quote:Originally posted by justplayin: This stock was NOT pumped. Yes, froggy was promoting it, but warned everybody to do their DD. If anybody bought at $.50 and sold at $1.40 and rebought back at $.50, they would be smiling like me.
Everybody has always stated that this company was heavily in debt. The pps would not move until Spare showed revenue.
I will still sit on this until 1st quarter results are released. If they continue to increase revenue quarterly, then they will fly. If not, it will be worthless.
They have reduced their operating expense and generated increased revenue. If the trend continues, this will be a good long hold.
lol, if Froggy would've pumped it any harder, it woulda shook my monitor.
posted
BuyTex, I agree froggy was really "high" on this stock. But if anybody did ANY DD of this before they bought, the would have realized the amount of debt and no revenues this company had. Also, he gave alot of information that actually came to pass.
The whole company is based upon the NEW software - SpareBackup and it's success.
Additionally, if anybody bought in the first week he posted (like me), then they would have made 200% (like me ).
People should not invest in pennies unless they know how to play the game. - BUY LOW, SELL HIGH!
-------------------- A day without dreams is just a nightmare! Posts: 1702 | From: Michigan | Registered: Oct 2003
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-------------------- Good judgment comes from experience, and often experience comes from bad judgment. Posts: 242 | From: Canada | Registered: Jul 2005
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-------------------- Good judgment comes from experience, and often experience comes from bad judgment. Posts: 242 | From: Canada | Registered: Jul 2005
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posted
Newport Taps Former Dell Manager to Fill Newly Created Position of Channel Operations Manager of Its Spare Backup Subsidiary Thursday May 18, 5:30 am ET
PALM DESERT, Calif., May 18 /PRNewswire-FirstCall/ -- Newport International Group (OTC Bulletin Board: NWPO - News) announced today the hiring of Ivor Anthony Newman as Channel Operations Manager of its Spare Backup Inc. subsidiary. Mr. Newman was most recently the Worldwide X-Lob Program Manager at Dell where he was responsible for the successful creation and implementation of global services programs. Mr. Newman has been intimately involved with the global services division since he joined Dell in 1999.
His responsibilities at Spare will include the implementation and management of Spare's business channel programs with vendors and OEM's. Over the course of the past several months, Spare has entered into programs with Systemax, various distributors and several large multinational corporations. Mr. Newman will be responsible for the smooth integration and management of these programs.
Commenting on this hiring, Cery Perle, CEO of Newport International Group, Inc., stated: "It is very important for Spare to ensure that our channel partner launches are successful. This is a critical time for us as we continue our worldwide rollout through various delivery methods. We are confident that the experience Mr. Newman brings in global services implementation with an OEM like Dell will serve our company well, especially in managing similar OEM programs in various stages at Spare."
-------------------- Good judgment comes from experience, and often experience comes from bad judgment. Posts: 242 | From: Canada | Registered: Jul 2005
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posted
Look at the volume!!!! Almost as much volume as we had last summer. I know there is also more shares out there, but still... is something up? Let's hope so.
-------------------- Good judgment comes from experience, and often experience comes from bad judgment. Posts: 242 | From: Canada | Registered: Jul 2005
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posted
Darkhawk...i've got the same question...anyone have some incite?
-------------------- ~~ No Regrets. In the end we are just talking about a couple of pennies. ~~ Posts: 67 | From: Chapel Hill, NC | Registered: Jul 2005
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