LoftWerks will locate a 1,600-square-foot sales and marketing office in the first floor of the building at 162 Fourth Ave. N and convert the second and third floors of the building into 21 condominiums. The units, ranging in size from 500 square feet to 1,400 square feet, will be priced between $143,000 and $360,000.
NAI Mathews Partners is marketing the property, which is slated to be completed early next year. The design work on the project will be handled by Eric Powers of Franklin-based Innovations Group and Nashville architect Rob Cochran.
Loftwerks, led by founder and CEO Dennis Ammerman, has converted six buildings in Detroit into residential lofts.
The Pruett Financial Group of Northwestern Mutual Financial Network had long occupied space in the Building. The firm relocated to nearly 28,000 square feet of space in Eakin Partners' Roundabout Plaza when that
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Everything about this venture looks legitimate, there's contracts and revenues, etc. But, I don't think anyone would disagree that it just smells a little too fishy. But, decisions should be based on facts, not emotions. Good luck all.
Posts: 415 | Registered: May 2005
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The only reasons this kind of volume didnt move it must be a 'large' O/S that is unknown as of yet. good luck to all!
Posts: 218 | From: Grungteb | Registered: Nov 2004
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Or a small O/S that the MM's have turned into a 'virtual massive O/S' through severe naked shorting.
Posts: 415 | Registered: May 2005
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i got 368,276 shares EOD putting us over 5 mill.
lot of pressure holding us but i must say as a TA guy and one who studies L2, Money Flow ect... this is sure looking more and more interesting by the day
..just as ricpick i'll be holding and adding until huge gains as expected. i was estatic to see NITE join the party on bid and i assure you like many others and myself he is here for one reason..to accumulate shares from the weak as the show continues... all IMO
Unfortunately, I haven't received a reply from the TA yet. However, from one of the earlier posts it seems their policy is not to publicize the float. I 'll let you know as soon as I hear from them.
I don't think at all that this company is a scam, but I think they're diluting to some degree. In fact, this filing says pretty clear that they "anticipate to raise $1 million" through the open 504D (look at page 5, bottom; it's even underlined):
At the current PPS, they would need to issue over 100M shares to raise 1 million.
However, the fundamentals of this company are all GREAT, even if they do raise their million $. And as soon as they stop the dilution the PPS will skyrocket, IMHO.
Posts: 323 | From: Honolulu | Registered: Sep 2003
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LFWK - time to get all Stock Market Communities on board..replies and dd also welcome here -----> http://tinyurl.com/e3yzz Let the Momo Begin!!
-------------------- siggy: 'the poorest way to help the poor is to be poor' / jmichael1974 (yahoo) Posts: 836 | From: Atlanta | Registered: Aug 2004
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TraderTom, I'm doing all my analysis now based on the Authorized shares of 200M and this is still way undervalued.
Based on the *value* of the company in June as 3.4M and assuming the O/S is 200M (which it should not be) the shares should be worth a minimum of 1.7 cents each. In my opinion that would still be incredibly cheap considering their plans for the next year.
-------------------- If you don't sweat the pennies, you're not making any money. Posts: 2218 | Registered: Feb 2005
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1. principal products or services, and thier markets;
a. Acquisition of warehouse or class c office buildings for renovatio and conversion to loft apartments or loft condominiums b. New condominium construction-in fill or mid-rise structures
2. distibution methods of the products or servises Loft Wise TV Show d. Urban life-style show in HD e. Season 1- 13 episodes shot around North America f. Season 2- 13 episodes in North America (and 2 or 3 in Europe) g. Expand into corresponding Loft Wise Magazine (more ads, details, etc.) h. Offer links and shopping cart for items promoted on show (cabinets, furniture)
3. statuse of any publicly announced new product or service; Loftwerks is rolling out a host of newproducts in 2005, including
a. National Urban Franchise (3rd quarter 2005) i. Franchise (similar to Century 21 or ReMax, but in urban centers) in top 35/40 ADI (Area of Direct Influence-TV & Radio term) (3rd quarter 2005) ii. National marketing campaign- linked to/with Loft Wise TV Show which in production now.
b. New kitchen cabinet line (4th quarter 2005) i. Intentionally radical and non-symetrical
c. New line of loft furniture (4th quarter 2005) i. Larger than traditional Amercan ii. Components that can be used to section off open floor plan design iii. Innovative and modern style Murphy beds; unique combination of metal, glass, wood, etc.
-------------------- Nothing moves a sub like news!!! Posts: 3346 | From: Leominster,MA,US | Registered: Jul 2003
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got some more yesterday. now at 394,000 shares.
-------------------- Do you know what "nemesis" means? A righteous infliction of retribution manifested by an appropriate agent. Personified in this case by an 'orrible 'unt... me. -Brick Top Posts: 746 | From: Pawtucket, MA | Registered: Jan 2005
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WTF did you do while I was gone a day.... it looks like we're just lining the pockets of the naked short selling criminals.... I'm so sick of it......
Posts: 1835 | From: Boston, MA | Registered: Sep 2004
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-------------------- Do you know what "nemesis" means? A righteous infliction of retribution manifested by an appropriate agent. Personified in this case by an 'orrible 'unt... me. -Brick Top Posts: 746 | From: Pawtucket, MA | Registered: Jan 2005
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If you look at the BCIT chart (keeping in mind that the companies are different) all of the volume came about a month before the pps really started to move. If we hold LFWK, it may take a month, but I believe we'll see more than $.10.
-------------------- If you don't sweat the pennies, you're not making any money. Posts: 2218 | Registered: Feb 2005
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Got an email from the T/A. They can find no record of me as a shareholder, and state "As Transfer Agent for Loftwerks we are not a public souce of information." LOL
Have a call in Andrew, the "PR guy", and haven't heard back... No one can find a number to the company directly, so it's practicall impossible to get ahold of anyone there... I've emailed the company directly with an address off one of their sites, but haven't heard anything back.
How in the hell can you NOT get ahold of any information or anyone affiliated with this company?
-------------------- Do you know what "nemesis" means? A righteous infliction of retribution manifested by an appropriate agent. Personified in this case by an 'orrible 'unt... me. -Brick Top Posts: 746 | From: Pawtucket, MA | Registered: Jan 2005
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Yes it appears that this may be a big scam. I hope it is not but things just don't add up with this whole situation.
Posts: 769 | From: Hotizona | Registered: Aug 2005
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You guys have to remember that this is a pinksheet. You are hardly ever able to get good info for a pink. You can usually forget about gettinb ahold of the company.
Since Andrew DeVries is the IPO, I would think he'd be easier to get in touch with.
Keep in mind that there could be lots of reasons for the confusion. It sounds like I'm trying to defend the company, but I'm really just trying to add to the conversation.
-------------------- If you don't sweat the pennies, you're not making any money. Posts: 2218 | Registered: Feb 2005
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You would figure that with the CEO's determination to resolve this issue, and to protect the shareholders of his company, he would make sure that someone available for inquiries.
Posts: 769 | From: Hotizona | Registered: Aug 2005
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Remeber something here and that is till we started buying this 2 days ago! There was only 30 or so shareholders and the CEO knew most of them, as they are listed in the 211 filing by name or position with the company! Now he has 100 or so share holders. The information trail will open up. Just gotta give it time, or at least I will give it time! You guys can do whatever you want.
-------------------- Nothing moves a sub like news!!! Posts: 3346 | From: Leominster,MA,US | Registered: Jul 2003
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[QUOTE]Originally posted by Chadsly: [QB] You guys have to remember that this is a pinksheet. You are hardly ever able to get good info for a pink. You can usually forget about gettinb ahold of the company.
Since Andrew DeVries is the IPO, I would think he'd be easier to get in touch with.
Ya... relax.... no one returns phone calls, esp. on pink sheets....
Posts: 1835 | From: Boston, MA | Registered: Sep 2004
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I recently became a shareholder of LFWK because I strongly believe in your (and your company's) ability to change the face of life in the city. The price per share of the stock has continued to fall, but I thank you for your commitment to see that the Market Makers do not continue to short sell this stock. I do have one important stock related question and was expecting that the CEO would be able to direct apporpriately. The share structure according to the filings in June said that only a couple hundred thousand shares were to be available for the market until you were to sell another $1 Million worth of shares. The Authorized shares were also set at 200 Million shares. Can you tell me breifly what the share structure is currently? Have you or the company itself sold any shares to the market since June? If you can't give me an exact number at the moment, can you give me a rough estimate? I look forward to an excellent next year following Loftwerks and Loftwise. Thank you for your help.
-------------------- If you don't sweat the pennies, you're not making any money. Posts: 2218 | Registered: Feb 2005
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nice email Chadsly. Hope you hear something back.
-------------------- Do you know what "nemesis" means? A righteous infliction of retribution manifested by an appropriate agent. Personified in this case by an 'orrible 'unt... me. -Brick Top Posts: 746 | From: Pawtucket, MA | Registered: Jan 2005
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this could be so beautiful the big dogs i've talked to on this all say they are holding...
the message i'm getting from the mm's right now is 'we are not filling large orders at this time.' lmao
hmmm..i wonder why?! lol
-------------------- siggy: 'the poorest way to help the poor is to be poor' / jmichael1974 (yahoo) Posts: 836 | From: Atlanta | Registered: Aug 2004
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Does anyone have a sub for Crains business magizine. No one drives a nail in Detroit with it being in there If they have renovated 4 bldgs in Det. It will be there. along with the locations of the bldg's.
G_Ho, Settlement takes 3 days you would not be a shareholder of record until after the settlement date.
-------------------- "There is only one good, knowledge, and one evil, ignorance" (Socrates, 470-399 BC) Posts: 406 | From: Michigan | Registered: Jul 2005
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-------------------- siggy: 'the poorest way to help the poor is to be poor' / jmichael1974 (yahoo) Posts: 836 | From: Atlanta | Registered: Aug 2004
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