posted
Matto... you see this hitting $1 in the near future? Still new to the game and making the sell decision has been proving premature (but safe) in the past ...Thanks
-------------------- I teach in the middle of a cornfield-Do your own DD and don't base your investments on my opinions
IP: Logged |
quote:Originally posted by RCAnalyst2007: Float is lowest.. less than a million. Maybe half. MM's adjusting the float by borrowing from top which widens the price spread.
Oh boy. RCA do you even know what the float is?
IP: Logged |
quote:Originally posted by RCAnalyst2007: yourdiligence,
You should have averaged down. Lower your cost by buying at this price level.
RCA when someone gets caught in a r/s there shares are worth almost nothing once the price is force down after the r/s All of you who are in an holding this make sure to daytrade it. This company has done r/s and everyday you hold is one day longer your shares will be worth less. Matto I know you hang out with a pump and dump group. You guys have done a great job with creating runners where people can make money. You have also done a great job in getting people in days before the spike. Just try to let the people who are following you know that these aren't investments. Because if you hold you will get killed. Lock in your profits and wait for the next runner. Gap, small run, then she will drop like a rock friday. Nothing against you Matto, but this stock won't do much 2-3 days from now.
IP: Logged |
quote:Originally posted by RCAnalyst2007: yourdiligence,
You should have averaged down. Lower your cost by buying at this price level.
RCA when someone gets caught in a r/s there shares are worth almost nothing once the price is force down after the r/s All of you who are in an holding this make sure to daytrade it. This company has done r/s and everyday you hold is one day longer your shares will be worth less. Matto I know you hang out with a pump and dump group. You guys have done a great job with creating runners where people can make money. You have also done a great job in getting people in days before the spike. Just try to let the people who are following you know that these aren't investments. Because if you hold you will get killed. Lock in your profits and wait for the next runner. Gap, small run, then she will drop like a rock friday. Nothing against you Matto, but this stock won't do much 2-3 days from now.
Sprint ....that is YOUR opinion. Others say Run baby Run!!!! Maybe not in 2 - 3 days, BUT what about day four? LOL
IP: Logged |
posted
Hope I don't get slammed here, due to Sprints Rep as of late, but Matto I don't think that he was bashing you at all here. It's all in how you read it, but he seems to just be trying to protect the newbies here, which I think is nice. Some need to be told to sell in the run. Ya know? Pennies are risky and for day trading only.
I don't think many would be dumb enough to come dump on ya Matto, not right now.
IP: Logged |
posted
im sorry jelly, i re-read your posted and i mis-understood your post. I thought that you were questioning the pick on DVFN. scratch that last post!
IP: Logged |
posted
I will chime in...look I am a matto fan..he knows how to pick pennies...AND I agree with Jelly and others. Pennies are for trading, sometimes you hold too long (i have done that in the past), buy and sell, lock in profit, any profit is good. Better to sell too early than to hold too long.
Matto, for whatever reason, is on a roll. Congrats to him. He has made good picks here for a while. I have made some $ and lost some following his picks. Ultimately, I am responsible for my own picks. Learn the game, play it with $ you can afford to lose. NO WHINING!!!
I for one enjoy the whole thing...it is a rush...know the difference between a trade and an investment. These are all trades...
ok I am done...hope this thing flies in the AM...see ya then.
posted
Second thoughts, EVERYONE here is trying to make money, Thats the truth right, Never blindly follow anyone are you can just kiss your money good bye, Like jelly said you got to sell in to the run are there will be no one to buy your shares i.e bagholder. I saw picks today that you just cant get out of just to low of vol to beable to sell it back.No buyer at the higher price.Thats anyones picks not coming down on any one person.GREED WILL GET YOU.
IP: Logged |
posted
RC... are u looking at USXP or CNES???? Also am a newbie at this any advice on study program to beef up knowledge base. Would like to be able to at least look at them intelligently
-------------------- CG-48 "Victory is our tradition"
IP: Logged |
posted
Sorry jelly but "Matto I know you hang out with a pump and dump group. You guys have done a great job with creating runners where people can make money" I don't need anyone telling starting bs like this How the hell does he know who i hang with! NO GROUPS NO FOLKS I HAND WITH NONE OF THE ABOVE. never have i ever created a runner with anyone! Read all my post sell on the way up is all i say! as for this not doing anything this saterted thre days ago at .02 when the chart said it was ready!
-------------------- Trading is a blast!!
IP: Logged |
posted
Matto... been watching your posts on some other boards. Thanks for the info am a newbie and your insight helps. Dont get mad...get wealthy pisses em off more. still a fan of yours and RCA
-------------------- CG-48 "Victory is our tradition"
IP: Logged |
posted
LOL But it won't take care of your PM's babe. Nice job.
And yes the pump and dump group would have me pretty pissed to, but the rest of it I was commenting on. Keep in mind, who cares what people say, most of them are new people that won't last, and the people that have been here long enough know ya. So let it roll.
IP: Logged |
posted
The good news is that every stock that SprintPCS bashs goes green...I even started a new thread called our friend SprintPCS...I wanted him to post the stocks he is bashing and the ones he is buying...This means for us:
Bash=Buy Buy=Sell
He is the greatest stock picker of the all...he just losses a lot of money doing it...He is always backwards...Anyway jus put up with him and his bashing..he is jealous...Go see the OUR FRIEND SPRINTPCS for more info.....
-------------------- If all goes well then great, if not, make it work.
IP: Logged |
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS As used herein the term "DFRC" or the "Company" refers to Diversified Financial Resources Corporation, its subsidiaries and predecessors, unless indicated otherwise. DFRC was incorporated in the State of Delaware on January 6, 1993, as Vaxcel, Inc. On December 19, 2000, DFRC changed its name to eLocity Networks, Inc. On August 6, 2002, DFRC changed its name to Diversified Financial Resources Corporation. DFRC currently has five organized subsidiary corporations, Diversified Holdings XIX, Inc., International Natural Resources Corp., Wichita Development Corporation, Wichita Properties, Inc. and Salt Lake Development Corporation.
Forward Looking Statements
The information herein contains certain forward looking statements. Investors are cautioned that all forward looking statements involve risks and uncertainty, including, without limitation, the ability of the Company to continue its expansion strategy, changes in the real estate markets, labor and employee benefits, as well as general market conditions, competition, and pricing. Although the Company believes that the assumptions underlying the forward looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and therefore, there can be no assurance that the forward looking statements included in the Form 10-QSB will prove to be accurate. In view of the significant uncertainties inherent in the forward looking statements included herein, the inclusion of such information should not be regarded as a representation by the Company or any other person that the objectives and plans of the Company will be achieved.
General
DFRC currently operates as a real estate holding company. DFRC intends to scale back its other business development investigations or operations and focus on acquiring, managing and operating real estate, oil and gas operations and mining operations.
Real Estate Investments
DFRC's objective, with respect to its real estate operations, is to acquire, through subsidiaries, properties which management believes can be operated at a profit. The existing commercial buildings and residences held by the Company through its operating subsidiaries will continue to be utilized in those same areas. The Company intends to maintain its efforts to market all of these properties over the course of the coming months and the Company will explore various opportunities for the sale or transfer of those properties.
n May 10, 2005, the Company, through its subsidiary, Salt Lake Development Corp., entered into an agreement to sell its four condo units located in Ogden, UT for a purchase price of $140,000. Of this amount, $7,000 will be paid in cash at the closing, $20,400 is credited back to the buyer for the assumption of certain liabilities and closing costs, and the Company will finance the remaining balance of $112,600 over 30 years at 7.5% interest per annum. The entire unpaid balance of principal and interest is due 24 months from the date of the note. The transaction closed on July 22, 2005, consistent with all material aspects of the sale agreement.
On June 28, 2005, the Company, through its subsidiary, Diversified Holdings XIX, Inc., entered into an agreement to sell its residential property located in Murray, UT for a purchase price of $100,000. The transaction closed on July 27, 2005, and the Company received $94,000 after closing costs.
Land and Natural Resources
Mining interests. The Company signed agreements in 2004 with professionals to seek out the potential development of mining opportunities within the Country of Mexico. The Company hired professionals to locate resources and available mining claims, to prepare documents to make claims, and to perform other due diligence procedures. The Mexican mining interests are more fully set forth and described in the Company's 10-KSB/A report for the fiscal year ended December 31, 2004, filed on April 25, 2005.
At the current time, all options held by the Company to acquire mining interests in Mexico have expired of their own terms. All activities related to acquiring mining interests in Mexico were curtailed and abandoned during the second quarter of 2005.
The Company is currently analyzing other gold and silver mining opportunities, as well as oil and gas opportunities.
Results of Operations
The following discussion and analysis should be considered in light of recent changes in management and operational focus, and should be read in conjunction with the Financial Statements and other disclosures in Form 10KSB/A for the year ended December 31, 2004.
During the three months ended June 30, 2005, the Company's revenues were $3,000 compared with $31,000 for the same period in 2004. During the six months ended June 30, 2005, the Company's revenues were $4,000 compared with $48,000 for the same period in 2004. The majority of the Company's properties were vacant in 2005 because management believed the properties would be sold, and leasing activities were not actively pursued. Therefore, revenues decreased in the 2005 periods compared to the same periods in 2004 when properties were occupied and rental revenue was recorded.
During the three months ended June 30, 2005, the Company's general and administrative expenses were $231,000, representing a $174,000 decrease from the same period in 2004, when general and administrative expenses were $405,000. During the six months ended June 30, 2005, the Company's general and administrative expenses were $666,000, representing a $2.6 million decrease from the same period in 2004, when general and administrative expenses were $3.3 million. In 2005, and especially in the second quarter, the Company reduced its use of consultants and trimmed its work force. These actions significantly reduced general and administrative expense. Also, in the first quarter of 2004, the Company issued 30,000,000 million restricted common shares to John Chapman for services rendered, and recorded $2.4 million of expense. This was the primary reason that general and administrative expenses decreased in 2005 through June 30, 2005.
During the three months ended June 30, 2005, the Company incurred expenses related to the mining activity in Mexico totaling $24,000. During the six months ended June 30, 2005, the Company incurred expenses related to the mining activity in Mexico totaling $197,000. The Company began incurring expenses related to the mining activity in Mexico during the fourth quarter of 2004. All activities related to acquiring mining interests in Mexico were curtailed and abandoned during the second quarter of 2005 when the Company was not able to make the $500,000 payment required pursuant to the agreements.
During the three months ended June 30, 2005, the Company's net loss was $181,000, representing a $442,000 improvement from the same period in 2004, when the net loss was $623,000. During the six months ended June 30, 2005, the Company's net loss was $846,000, representing a $2.7 million improvement from the same period in 2004, when the net loss was $3.5 million. The improvement in the 2005 net loss for both periods resulted from lower general and administrative expenses, which were offset by the increase in expenses related to the mining activity in Mexico.
Liquidity and Capital Resources
As of June 30, 2005, the Company had current assets of $99,000 compared to current assets of $431,000 as of December 31, 2004. During the six months ended June 30, 2005, we collected the receivables from employees of $141,000, collected the receivable from Finance 500 of $27,000, redeemed our money market funds of $55,000, and used existing cash balances to help fund operations during the period.
We had a working capital deficit of $2.3 million as of June 30, 2005, compared to a working capital deficit of $1.8 million as of December 31, 2004. The working capital deficit increased because cash and receivable balances decreased as noted above. The mortgages and lines of credit are classified as current liabilities at June 30, 2005 and December 31, 2004, due to our inability to make timely monthly payments.
Total stockholders' deficit was $1.6 million as of June 30, 2005, compared to $1.1 million as of December 31, 2004. The increase is primarily attributable to the net loss of $846,000 which was offset by increases due to stock issuances of $329,000.
Net cash flows used by operating activities were $295,000 for the six months ended June 30, 2005, compared to $565,000 for the same period in 2004. The decrease in cash flows used by operating activities in the current period relates to our limited use of consultants and work force reduction. Our related party payables increased $130,000 as a result of two transactions. First, we issued a $30,000 note bearing interest at 11.5% to Nexia Holdings, Inc. for cash. Second, we issued a $230,000 note bearing interest at 8% to West Jordan Real Estate Holdings, Inc (a subsidiary of Nexia Holdings, Inc.) in exchange for $100,000 in cash and the cancellation of two notes payable and accrued interest to Nexia Holdings, Inc., including the $30,000 note referenced above.
Net cash flows provided by investing activities were $53,000 for the six months ended June 30, 2005, compared to net cash flows provided by investing activities of $28,000 for the same period in 2004. The increase of net cash flows provided by investing activities relates primarily to our liquidation of money funds, which we used to fund operations in 2005.
Net cash flows provided by financing activities were $110,000 for the six months ended June 30, 2005, compared to net cash flows provided by financing activities of $545,000 for the same period in 2004. We had more option activity in 2004 than in 2005, resulting in decreased cash flows.
Due to our debt service on real estate holdings and anticipated expenses related to other operating activities, we may experience cash flow shortages throughout 2005. We plan to raise additional funds through the sale of common stock or issuance of debt to fund such shortages. Our ability to raise additional funds in the future is uncertain, and we may be forced to curtail certain activities if we are not successful in raising additional funds.
Ability to continue as a going concern
Our ability to continue as a going concern is in doubt. We incurred a loss of approximately $846,000 for the six months ended June 30, 2005; had an accumulated deficit of approximately $20.5 million at June 30, 2005; and had a stockholders' deficit of approximately $1.6 million at June 30, 2005.
To date, we financed operations primarily through the issuance of common stock. The common stock issuances were made either pursuant to the exercise of stock options or the issuance of stock for services.
We will need to substantially increase operating income, and raise significant additional capital to continue as a going concern. There is no assurance that we will be able to increase operating income or raise additional capital in order to continue as a going concern over the next 12 months.
Add DVFN.OB to Portfolio Set Alert Email to a Friend
Get SEC Filings for Another Symbol: Symbol Lookup
IP: Logged |
posted
Matto you joined the sametime Jmicheal did. Jmicheal was pals with Momo. Momo owns a daytrading group that does pumps and dumps. The only reason why Matto is on a role is because he has people buying at a certain time. As I said what you are doing is very nice. You are telling people about the stock before she runs. Please don't let your ego get the best of you. Alot of the people who are read this may seem to believe something else good will happen in the future. NAWL CEO passed a way a couple of months ago and the company is going to go BK. Momo's pump and dump group started the first spike on NAWL. All I am saying is you are doing a great job. Just let people know to take profits when the volume dries up because alot of people will cry when they lose money time and time again. As I said I am not bashing you and I know what you are trying to do. Just stay honest to your followers.
IP: Logged |
posted
yes i know jm and momo but i have no clue what they are doing at any time! well they told me about vcty last week! o i didnt start tread for that did i why bonehead because we dont win on group plays
hey did you take you 300% today or 100%
-------------------- Trading is a blast!!
IP: Logged |
posted
If you know how to play -then shut the hell up
30 ppl. im me and i help them- they can handle them self. you are not a hero in any sense of the word. so get off this tread and find somthind usfull for us to play!!!!!!!!!!!!
-------------------- Trading is a blast!!
IP: Logged |
Topic Closed
UBBFriend: Email this page to someone!
Printer-friendly view of this topic
