posted
Here's an example of reverse split that happened to me. Held 400k bought *.0005 or $200. Reverse split and name change of 1000 to 1. I now hold 400 shares. New stock started at .07 dropped to .003 in 3 days. 400 *.07 is 28.00, 400k * .07 would have been $28K if not split. This stock would have to get to 50 cents just to get my $200 back. No chance since the entire history of this sub penny stock has been below .0005 There seems to NEVER be a benefit to the common shareholder with a r/s.
-------------------- Eagles may soar, but weasels don't get sucked into jet engines....
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This news could explain why we've been getting these dips over the last two days. It's pretty typical to have a drop prior to good news.
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Recovery Operations on Site Containing Pay Ship Announced
NEWTOWN, PA. - (BUSINESS WIRE) - January 6, 2006 - Sovereign Exploration Associates International, Inc. (OTCBB: SVXP), announces plans to begin operations on site CBNS-3 containing the wreck of a British grand square-rigger pay ship, the H.M.S. Tilbury believed to be one of twenty ships in the British fleet sent to Halifax in 1757 to attack the fortress of Louisburg which was fortified by the French.
Under an official Treasure Trove licensing agreement with the Nova Scotia provincial government, Artifact Recovery & Conservation, Inc. (ARC), a portfolio company of SVXP, anticipates surveying the site this spring and, weather permitting, initiate recovery operations.
While anchored off the coast of Cape Breton in September 1757, the fleet encountered winds of hurricane level. The British ship believed to have been a pay ship and carrying in excess of 500,000 gold and silver coins when it went down at St. Esprit, Nova Scotia. Of the twenty ships, nine arrived in Halifax with masts standing, two sank, and the remainder of the fleet returned to England via Newfoundland.
A major focus of the exploration will be the large cargo of Spanish Pillar Dollars known to be on the pay ship. These coins were the principal coins found and used as currency in the Colonial years of America.
Robert Baca, CEO of SVXP, commented on the historical importance of the wreck site saying, "The H.M.S. Tilbury is another example of SVXP's valuable inventory of shipwrecks. We are very optimistic about the opportunities this shipwreck represents to our recovery operations in 2006."
Further information and operational updates will be posted on the Company's website: www.sea-int.com.
-------------------- May your trading build your character as well as your portfolio.
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posted
The reverse split is a fact for april 06. So timing to sell before then will be super important. Cali/Svxp told us flat out. You would have to have 10's of millions to survive a r/s just to get your investment. I see no reason holding this until the split. I'm going to hold until May 1st and sell regardless. But Cali said 'BY' april 06. So It can come anytime. Nothing to predict, you don't need any charts to know what's going to happen. The trick is to take the profit (whatever it is). Or at least, flip like crazy if you have the cash. Good luck to all. S5
-------------------- Eagles may soar, but weasels don't get sucked into jet engines....
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posted
)00ps, meant march 1st may be longest hold for me. Seems the 1 for 1000 is the split de jour right now. But I've seen 1 for 25,000. Depends if o/s is 10 bil or 300 bil.
-------------------- Eagles may soar, but weasels don't get sucked into jet engines....
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posted
I would chalk that one up as a rumor,here is the search to find name change and symbol changes. (for a test type in FCDH,they are changing monday) http://www.otcbb.com/OtherDailyList/
posted
Below is from the SEC Doc that states the info about the RS. I can't make heads or tails of it. Does this mean the old company will split or the new company?
EXCHANGE AGREEMENT
THIS EXCHANGE AGREEMENT MADE this 17 th day of October 2005 by and among CALI HOLDINGS, INC., formerly known as TS&B Holdings, Inc. (“CALI”) , a Utah corporation with offices at 7658 Municipal Dr., Orlando, FL 32819 AND SOVEREIGN EXPLORATION ASSOCIATES INTERNATIONAL, INC . (“SEAI”) , a Pennsylvania corporation with offices at 503 Washington Avenue, Suite 2D, Newtown, Pennsylvania, 18940.
WHEREAS, SEAI owns 100% of the capital stock of Artifact Recovery & Conservation, Inc. ("ARC") and Sea Research, Inc. ("SRI") (jointly and severally, the “Subsidiaries”) which are in the marine recovery and exploration business and have certain contracts with and rights from various governments to discover, recover, and salvage wrecks (collectively “Business”) and are desirous of expanding said Business through an investment and exchange with CALI , (the “Exchange”); and
WHEREAS, CALI is a publicly traded investment holding company and interested in an Exchange with SEAI ; and
WHEREAS , the respective representatives of CALI and SEAI have had certain discussions regarding this Exchange for the purpose of exclusively conducting Business which the Parties now wish to reduce to writing in this Agreement.
NOW, THEREFORE IN CONSIDERATION OF THE MUTUAL PROMISES, REPRESENTATIONS, AND COVENANTS CONTAINED HEREIN, AND OTHER GOOD AND VALUABLE CONSIDERATION, THE PARTIES AGREE AS FOLLOWS:
Article 1 . Exchange . At Closing, CALI shall receive One Hundred Percent (100%) percent of the capital stock or units in SEAI in exchange for Ninety Percent (90%) of the capital stock in CALI ; based on the following outline (the “Exchange”). The Parties agree that the matters set forth below are required to effectuate the Exchange:
a) The Parties understand and agree that there is a current Amended Reg. E. Offering outstanding for CALI., and upon completion of the current Offering, but in no event later than April 1, 2006, CALI shall reverse split (“RS”) the common shares so that SEAI has 90% ownership of CALI through the common shares or the Class A and Class C Preferred Shares. The Parties understand that the exact amount of Class A and Class C Preferred shares to be issued to SEAI for the 90% control depends on the calculation of the reverse split in this provision Art. 1(a).
b) It is understood by the Parties that CALI currently has Executive Management contracts in effect for James E. Jenkins and Charles Giannetto (jointly “ Management ”) and a Consulting contract in place for KMA Capital Partners Ltd. ( KMA ). As part of the Closing of this Agreement, said Executive Management contracts and KMA consulting contract will be extinguished pursuant to the termination agreement in Exhibit A. Effective as of the Closing, CALI shall terminate or assign its building and equipment leases of the Orlando office.
quote:Originally posted by texrecruiter: Below is from the SEC Doc that states the info about the RS. I can't make heads or tails of it. Does this mean the old company will split or the new company?
EXCHANGE AGREEMENT
THIS EXCHANGE AGREEMENT MADE this 17 th day of October 2005 by and among CALI HOLDINGS, INC., formerly known as TS&B Holdings, Inc. (“CALI”) , a Utah corporation with offices at 7658 Municipal Dr., Orlando, FL 32819 AND SOVEREIGN EXPLORATION ASSOCIATES INTERNATIONAL, INC . (“SEAI”) , a Pennsylvania corporation with offices at 503 Washington Avenue, Suite 2D, Newtown, Pennsylvania, 18940.
WHEREAS, SEAI owns 100% of the capital stock of Artifact Recovery & Conservation, Inc. ("ARC") and Sea Research, Inc. ("SRI") (jointly and severally, the “Subsidiaries”) which are in the marine recovery and exploration business and have certain contracts with and rights from various governments to discover, recover, and salvage wrecks (collectively “Business”) and are desirous of expanding said Business through an investment and exchange with CALI , (the “Exchange”); and
WHEREAS, CALI is a publicly traded investment holding company and interested in an Exchange with SEAI ; and
WHEREAS , the respective representatives of CALI and SEAI have had certain discussions regarding this Exchange for the purpose of exclusively conducting Business which the Parties now wish to reduce to writing in this Agreement.
NOW, THEREFORE IN CONSIDERATION OF THE MUTUAL PROMISES, REPRESENTATIONS, AND COVENANTS CONTAINED HEREIN, AND OTHER GOOD AND VALUABLE CONSIDERATION, THE PARTIES AGREE AS FOLLOWS:
Article 1 . Exchange . At Closing, CALI shall receive One Hundred Percent (100%) percent of the capital stock or units in SEAI in exchange for Ninety Percent (90%) of the capital stock in CALI ; based on the following outline (the “Exchange”). The Parties agree that the matters set forth below are required to effectuate the Exchange:
a) The Parties understand and agree that there is a current Amended Reg. E. Offering outstanding for CALI., and upon completion of the current Offering, but in no event later than April 1, 2006, CALI shall reverse split (“RS”) the common shares so that SEAI has 90% ownership of CALI through the common shares or the Class A and Class C Preferred Shares. The Parties understand that the exact amount of Class A and Class C Preferred shares to be issued to SEAI for the 90% control depends on the calculation of the reverse split in this provision Art. 1(a).
b) It is understood by the Parties that CALI currently has Executive Management contracts in effect for James E. Jenkins and Charles Giannetto (jointly “ Management ”) and a Consulting contract in place for KMA Capital Partners Ltd. ( KMA ). As part of the Closing of this Agreement, said Executive Management contracts and KMA consulting contract will be extinguished pursuant to the termination agreement in Exhibit A. Effective as of the Closing, CALI shall terminate or assign its building and equipment leases of the Orlando office.
definitely sounds as though *someone's* shares are going to be r/s'd, and not necessarily waiting till April, as I read it:
quote:. . . but in no event later than April 1, 2006, CALI shall reverse split (“RS”) the common shares so that SEAI has 90% ownership of CALI through the common shares or the Class A and Class C Preferred Shares.
sounds like an r/m to me...hence, would like the link to read it all...since you already have found it...tia
-------------------- Nashoba Holba Chepulechi Adventures in microcapitalism...
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quote:Originally posted by Another_Newbie: What are the pros and cons to a reverse split, to the shareholders?
see Thorn's post, first, in case you haven't...
to add to that: *most* r/s dealies, ie, "the norm," is scammy companies who jiggle their a/s, o/s and float like a street-hustler...you've seen those "now-you-see-it, NOW-you-don't games, eh?
True, some do work out: an example of one that's trying is GTE, which started in pennies as GTEL, then r/s'd in order to raise the pps to the point of qualifying for trading on AMEX; another, generic, example is the occasional reverse merger that involves a "real company" taking over an empty shell...those can go, really well.
Typical, scammy, serial r/s issues are RVMN and WTVN...threads are here, on-board
-------------------- Nashoba Holba Chepulechi Adventures in microcapitalism...
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quote:Originally posted by texrecruiter: You can look at the SEC filings and see that they have been purchasing stock here and there since October.
WoW just checked out their filings tex, and you are right there was alot of insider buying the last few months. Just check all the form 4's that were recently filed and it shows all the different board of directors who have recently aquired shares.
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"Tilbury had carried treasure, some of which may have been recovered at the time or spread across the ocean floor. During the summers of 1981 to 1986 a French team of divers searched for Tilbury - and found her. They dived on the wreck in 1986 and 1987, finding 44 of the 60 cannon, together with a great deal of musket shot, various artefacts, 23 pieces of the ship's bell, the main anchor, cast-iron ballast, cannon balls, and also - pieces of gold and silver: 16 pieces of gold and 430 of silver." http://freepages.family.rootsweb.com/~cmtilbury/hmstilb.html
-------------------- May your trading build your character as well as your portfolio.
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posted
I could just post the link, but internet pages have a way of disappearing, so here's the entire page, following the link if you want to follow it (a cached Google page, no less).
PS: The Le Chameau had been mentioned by SVXP earlier as a target for recovery.
------------------------------------------- Sovereign Marine Explorations, Inc.
Description of Current Projects
The two projects picked for the first offering by Interspace from SME are the ship wrecks LeChameau and HMS Tilbury. These were chosen because of location, prior experience with these wrecks and the ability to recover cargo immediately to maximize the return to the investors. However, due to the nature of wreck sites, there are other ship wrecks within the boundary of these claims and may be worked in association with those listed wrecks within guidelines established by the Nova Scotia Provincial Government.
LeChameau
(Permit # Kelp Cove - T 147 - T148 - T130). Encompasses Baliene to Convict Point which contains the French pay ship LeChameau and several other vessels lost and yet to be identified. Strong indications from our research lead us to believe that one of the other ships lost within this claim area is the Tritons Prize lost 1745.
LeChameau (which means camel) was built in 1716 in Holland from plans designed by Blaise Ollivier a naval architect who just recently finished studying new ship building techniques in England and Holland. Once he returned from his trip, he designed an improved version of the current naval transport, called a flute. At that time, flutes were cargo vessels that were built primarily for transportation of merchandise. Ollivier modified the ship to produce a faster vessel with increased capacity for cargo. When the LeChameau was launched, she was a ship of 600 tons, with a length of 152 feet, width of 34 feet and had a draught of 15 feet. LeChameau transported back and forth from Rochefort, France to Quebec from 1719 to 1725. On the return trips from Quebec, LeChameau would bring back cod fish, oak timbers, wood tar, beaver pelts and some passengers.
In May of 1725, LeChameau received sailing orders bound for the shores of Quebec. Leaving La Rochelle France in July 1725 loaded with 316 passengers including a list of distinguished guests such as the new Governor of New France, who was the son of the Governor of Montreal, the Governor elect of Three Rivers, commanders of the French infantry and artillery of Canada and several high ranking church officials were all aboard LeChameau. In addition to the list of distinguished guests, the cargo included a shipment of coins from the La Rochelle mint with approximately 680,000 livre. This was approximately 80,000 gold coins (Louis d'or pictured left) and over 350,000 silver coins (ECU's) the rest of the shipment was mixed copper coins.
Letters that were recently found and translated from old French reported that a significant loss of land and estates resulted from the passengers’ deaths. These wealthy passengers borrowed heavily against their estates in Europe to raise capital in the form of gold & silver to carry on trade in the new world. Since these French nobles borrowed so heavily for the voyage to the New World, they jeopardized their lands and business holdings in Europe.
There were two major losses with the sinking of LeChameau. First, was the loss of King Louis XV’s shipment of gold and silver for the treasury of New France. Secondly, which probably seems to be the larger loss, was the gold & silver on board belonging to the wealthy nobles and private passengers valued approximately at 100 Million Livre (dollars) in 1725 and in today’s dollars would exceed a value of $100 Million dollars.
The trip to the new world took approximately six weeks and was uneventful until the 25th of August. LeChameau was scheduled to land the new governor when it was caught in a terrible storm from the east southeast. While trying to reach the safety of Louisbourg harbor, the ship struck a rock in the early morning on the 26th. The fully loaded ship shuddered and was ripped apart by the jagged rocks as she was repeatedly dashed against the rocks. The carnage was devastating aboard the ship as the cannons and carriages ripped away from their lashings and tore additional holes in the pride of the French fleet. As tons of water rushed into the lower decks, survivors tried desperately to reach the upper decks and safety but found that every access was blocked with debris. As the main deck separated from the hull, the upper portion of the ship floated towards the northwest with a few desperate survivors still clinging to the deck. Exhausted and frightened the few remaining survivors desperately held fast to the decking not seeing the worst coastline one could imagine, high cliffs, jagged rocks and crashing waves against solid rock. In those rocks, their fates were inexorably sealed. The next morning there were no survivors and the local inhabitants east of Louisbourg discovered the wreckage of a large French vessel. The following day the news reached Louisbourg and they immediately knew it was the wreck of LeChameau because the local inhabitants found the figure head of LeChameau (a camel) strewn on the beach. Their story sadly and tragically ended and 279 years later, ours continues.....
This satellite image is the wreck site of LeChameau and the center white spot is where the ship struck the rocks and started to break up and sank.
Since very little of the original treasure trove has been recovered (a few thousand silver coins and a few hundred gold coins), we will concentrate our efforts on this valuable wreck site. Combining the newer Cesium magnetometers and the 8x pulse induction metal detectors, we feel that treasure can be found in a short time thus offering a greater return on our investment.
H.M.S. Tilbury Claim number T107. This claim encompasses the area around St. Esprit, Tilbury Reef which contains the wreck of H.M.S. Tilbury.
HMS Tilbury was the third Tilbury with that name and was built in Portsmouth England and launched July 20, 1745. She was a fourth rate ship and as such carried 60 guns. In addition, she was the last grand square-rigger of the Old Navy to bear that name; all of the future HMS Tilbury’s were all mechanically driven.
Because the French were taking action against the English in North America and particularly Nova Scotia, in March, 1757 the British government decided to send a fleet of 20 ships including the Tilbury under the command of Vice-admiral Holburne to Halifax where they were to join Lord Howe's army, with the purpose of attacking the fortress of Louisburg which was fortified by the French.
By September 1757 the entire British force was finally assembled but it had learned that Louisburg had been reinforced both by soldiers and ships. Since it was late in the season, it was decided to put off the attack until next year. However, Holburne according to some historians tried to tempt the French fleet under the command of De la Motte to come out of Louisburg and fight but the French commander was mindful of his instructions to protect Louisburg, and did not respond to the British provocation.
"At anchor between St. Esprit and Fourchu on Sunday 23rd at about 3 a.m., the wind rose and grew to a violent east south-easterly storm" this was from the Ship's Log of Captain Holmes, HMS Grafton. Between 8 and 9 hours the wind veered to the south and rose to a hurricane, great waves towering in from the east, which continued until about 11 a.m., when the wind moved round to the north. This probably saved most of the fleet, since they had been driven in towards the hard granite of the shoreline, and but for the veering wind must all have been smashed onto the rocks.
During that night the seamen battled against the storm to prevent the ships being overcome. As pulleys, rope, canvas and masts fell upon them, the decks rolled and plunged, the chill sea washed over them and the wind tore at their bodies, these hardy, determined men continued to try to save their ships through all those long hours of cold, roaring darkness. Many of the fleet jettisoned cannon and anchors to remain afloat, a heavy and dangerous task in itself. During the night the small fourteen-gun brig Ferret (Captain Arthur Upton) sank. Later Grafton struck a rock, before the wind turned, but was lucky and forged off again. Tilbury also struck close in to the coast (a rock or a sandbank) but was not as lucky as Grafton. The ship held fast, the sea and the wind pounded her and she broke. Of the 400 on board 280 were saved with the help of the French from Louisburg, where they were then held prisoner, but well treated; Captain Barnsley perished; his second, Mr. Thane, survived. Of twenty ships, nine of Holburne’s fleet still had their masts standing came into Halifax; the others with jury rigs in place limped back to England via Newfoundland.
H.M.S. Tilbury had carried a treasure of 500,000 coins made mostly of pillar dollars, plus other treasure that was taken as “prize” some of which may have been recovered at the time or spread across the ocean floor. In that time period, English pay ships were valued at the amount of silver they carried not the entire value of the cargo. However, it was common practice that the officers on English ships would be paid in gold not silver and therefore would carry approximately 20% of the value of the silver they carried in gold. At today’s market of $50.00 per coin just for the silver coins, that would place the value of the cargo in excess of $25,000,000.00. During the summers of 1981 to 1986 a French team of divers searched for Tilbury and found her. They dived on the wreck in 1986 and 1987, finding 44 of the 60 cannon, together with a great deal of musket shot, various artifacts, 23 pieces of the ship's bell, the main anchor, cast-iron ballast, cannon balls, and also 16 pieces of gold and 430 of silver leaving most of the treasure still intact. (Source from the History of Nova Scotia, Book # 1 Acadia, part 7, the Siege of Louisburg)
Spanish Pillar Dollar
An important aspect of this treasure site is the valuable cargo of Spanish Pillar Dollars that it was carrying. No coin in history has ever endured a more fabled and cherished life then the Spanish Pillar Dollar. This Pillar Dollar was valued at 8 reales and all the other fractional denominations of currency were based on this 8 reale coin. The other fractional denominations of the 8 reale were ¼, ½, 1, 2 and 4 reales. These coins were the principal coins found and used as currency in the Colonial years of America.
These coins were beautifully designed and loaded with full detail and expression. In Mexico, before 1732 all coinage were struck by hand. With the advent of the screw press a new coin could be produced with beautiful results and thus the first Pillar Dollar coins were minted with the new screw press technology. These Pillar Dollars were perfectly round, with a milled edge so that it could not be clipped or plugged and received a new design. The obverse portrays two crowned hemispheres between the two crowned Pillars of Hercules. This rests upon a wavy semicircular surface symbolic of the ocean between Europe and the New World. The coat of arms on the reverse is almost a replica of that used by the Mexico City Mint during the reign of Charles (the arms of the kingdoms of Castile, Leon and Granada) with the addition of the Bourbon escutcheon.
The decree of King Philip V to produce Pillar Dollars created the basis for a world monetary system. An interesting yet unsubstantiated rumor persisted that King Philip V had ordered all the Pillar Dollar coins of 1732 and 1733 to be melted down and destroyed. This was due to a high church official accusing Philip V of ordering the Spanish fleet to wait for the entire shipment of Pillar Dollars from the Mexico mint. This one order to wait caused a delay in the fleet’s departure from Havana. This delay resulted in the entire fleet being struck by a hurricane with many lives and ships being lost from this armada. King Philip’s conscience was severely damaged and felt obligated to eliminate any reference to his decision on delaying the fleet. By King Philip destroying the Pillar Dollars with the dates 1732 & 1733 any coins currently found with these dates would be considered very valuable.
Some coins have been found with these dates and they have been very well received at auctions. As per the prices in the year 2000.
Date Very Good Condition Fine Condition Very Fine Condition Extra Fine Condition
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