quote:Originally posted by Darkhawk: 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.
If the O/S IS being diluted then why would the pps go up?? Just because the O/S has gone up DOES NOT mean that those shares are in the market for free trading. They could be restricted thus having no effect on the current market.
This is a great flipper at these prices and a good long hold IMO.
-------------------- A day without dreams is just a nightmare!
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justplayin...what price range do you think would be a good ballpark on flipping it? it has been swinging between the mid to high twentys and around where it is now
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You have hit the nail on the head. If you can buy at .25 and sell at .35 you have a winner. Be careful though, with volume (by flipping) you will attract attention to this stock and maybe it will move up artifically.
Also, I really don't think it will do much other than the .25-.35 until HUGE NEWS or profitable quarterly reports.
GLTA
-------------------- A day without dreams is just a nightmare!
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ITEM 3.02 UNREGISTERED SALES OF EQUITY SECURITIES Previously, in July 2004, Newport International Group, Inc. issued 5,882,352 shares of its common stock to Langley Park Investment Trust PLC in exchange for 6,484,840 ordinary shares of Langley Park. Langley Park's ordinary shares were quoted on the London Stock Exchange and the shares Newport International acquired in the transaction were freely saleable by it, subject to the escrow provisions. Langley Park agreed not to sell or otherwise dispose of Newport International's shares of common stock it acquired for a period of two years from the date of the transaction. At the time of the transaction Newport International placed 3,242,420 of the Langley Park ordinary shares it acquired in an escrow account with Gottbetter & Partners, LLP as a downside price protection for Langley Park. These shares were to remain in escrow for up to two years, subject to early termination upon the consent of the parties. If at the end of the two year period the average of the 10 closing bid prices per share of Newport International's common stock during the 10 trading days immediately preceding July 30, 2006 is below $2.01, a proportion of the Langley Park ordinary shares held in escrow would be returned to Langley Park in the same ratio as the average closing bid price is to $2.01. Following the initial transaction, Newport International had sold the remaining 3,242,420 ordinary shares of Langley Park it had acquired in July 2004 and received net proceeds of approximately $632,717.
On May 26, 2006 Newport International entered into a Repurchase Agreement with Langley Park wherein Newport International repurchased the 5,882,352 shares of its common stock sold to Langley Park in July 2004. As consideration, Newport International (a) sold Langley Park the remaining 3,242,420 ordinary shares of Langley Park which were deposited into the escrow account, (b) paid Langley Park a cash payment of approximately $632,717 which represented the net proceeds Newport International had received to date from the sale of Langley Park ordinary shares and (c) issued Langley Park a two year common stock purchase warrant for 3,000,000 shares of Newport International's common stock with an exercise price of $1.00 per share. The transaction was exempt from registration under the Securities Act of 1933, as amended, in reliance on an exemption provided by Section 4(2) of that act. The exercise price of the warrant is subject to adjustment for customary anti-dilution events, and Newport International granted Langley Park piggy-back registration rights covering the shares common stock underlying the warrant. Langley Park also agreed to a two-year lock up on the shares of common stock it will acquire upon any exercise of the warrant, and thereafter to limit its monthly sales of the shares to no more than 10% of the average volume of Newport International's common stock during the preceding month.
Under the terms of the Repurchase Agreement, Newport International and Langley Park exchanged general releases, except for any claims that Newport International may have against Mr. Mads Ulrich and entities owned or controlled by him including First Fidelity Capital, Inc. and E-Holdings, Inc. (collectively, "Ulrich"). Newport International agreed to indemnify Langley Park against legal fees or costs associated with any claim or cause of action it may bring against Ulrich up to $100,000 and in connection therewith deposited $50,000 and 150,000 shares of its common stock issued in the name of Langley Park into escrow. If Newport International has not filed any claim or cause of action against Ulrich on or before December 1, 2006, the escrow agent shall return the $50,000 and the 150,000 shares of common stock to Newport International Group and Ulrich will automatically considered a released party under the terms of the general release of Langley Park by Newport International. If, however, Newport International files a claim or cause of action against Ulrich prior to December 1, 2006, the escrow agent is thereafter authorized to use all or any portion of the $50,000 to pay Langley Park's legal fees and costs and, if such legal fees and costs exceed the $50,000, to sell all or any portion of the 150,000 shares of common stock up to $50,000 worth and apply those proceeds to Langley Park's legal fees and costs. Following a final judgment or settlement in any Ulrich claim or cause of action, the escrow agent will return to Newport International any unused portion of cash or stock.
Concurrently, Newport International, Langley Park and Gottbetter entered into an Amendment to Escrow Agreement under which (a) Newport International deposited a demand promissory note to Langley Park in the principal amount of £32,424 (approximately $60,642 on May 26, 2006), and (b) Langley Park deposited a demand promissory note to Newport International in the principal amount of £32,424. Gottbetter will continue to hold the 3,242,420 ordinary shares of Langley Park which were originally deposited in escrow with it in July 2004 and the two promissory notes until the two-year anniversary of the closing of the July 2004 agreement with Langley Park, at which time Gottbetter will deliver the escrowed shares to Langley Park and destroy the two promissory notes.
-------------------- Good judgment comes from experience, and often experience comes from bad judgment.
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WE ARE BACK!!!! Hey all!! Hope you didn't miss the good 'ole Frogster!!! I've been out of the country for almost a year! But I am back, and LOOK AT our new symbol!!! SPBU.OB! We are RUNNING! New contracts coming up, BIG $$$$!!!!!
FROGSTER!
-------------------- Just so everyone knows, anything I state in here is classified as a RUMOR... Nothing is DONE until OFFICIAL PR comes out... Don't change your thinkin though! This is a message board... Everything I say is in my own opinion.
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