posted
Maybe not tomorrow but TCLL is still my pick for 500% before March 1. Huge revenue and it's profitable. One good PR some volume and BOOM...no downside that I can see at these levels.
Tomorrow I will be playing the matto pick DVFN, lol...
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I'm keeping my eye on QTCE to see what it does tomorrow....had an awesome day today and I'll see whether it opens up higher. Hoping it does, otherwise I may sell right away or late in the morning. I bought this around .015 just a couple of days ago.
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amhd - o/s is 400 million - float 40 - are drilling for oil and gas and should give an update soon - they stated that they hit oil (didn't change their pps a bit) - trades with small volumes - mm's most likely have their shares lined up
xkem - bouncing of lows - low os of 260 million - just got a settlement of $4.2 million (will/are reshaping there debts)
dvfn - the 'matto' effect - nice find - super low o/s - hope this one hits big time
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yeah SSTY! im tryin to get as much info on them as possible. DWE, could you link me to these multi-billion dollar rev's you speak of? thx
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RSMI---monster in the making--could be the play of the year- already up fom under .03 to .098 in about a week, this one one will be in the dollars before too long. Watch it!
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quote:Originally posted by moomula: DVFN, DVFN, DVFN and oh did I mention DVFN!!!! ALL aboard. This baby is a sure thing. Please just look at it. Please!
Form 10QSB for DIVERSIFIED FINANCIAL RESOURCES CORP
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.
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posted
Watch RSHN tomorrow... finished the day strong. May not go tomorrow, but it looks like it may go soon. This is one of Jim and Will's picks as well and we all know how well they have turned out recently.
-------------------- trashed and scattered again
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quote:Originally posted by SincereX13: Watch RSHN tomorrow... finished the day strong. May not go tomorrow, but it looks like it may go soon. This is one of Jim and Will's picks as well and we all know how well they have turned out recently.
RSHN will KILL The Red Bull one day.
Pepsi may still be #2 in colas but Pepsi today is a MUCH bigger diversified corporation than Coca-Cola with better dollar value.
LOOK OUT, RED BULL! Here comes RSHN!!!
-------------------- "NEVER UNDERESTIMATE THE POWER OF THE U.S./CHINA CONNECTION"
And please don't look at previous junk reports. They just give false information and scare you so you feel like it's worth nothing and makes you wanna sell. That's the idea. They've accumalated all the shares out there with all these reverse splits. Only few shareholders left out with some shares and they will sell them when this baby spikes.
posted
All the remaining floating shares have been accumulated over the last 3 months. Who do you think accumalated? Not us. Big boys. And they will sell those share when the price hits the highest levels that they prefer. Well, obviously they need to generate buyers. But, how? Stock has no value. They need work this stock hard. First, technicals. Then some trend. Then some news. So, we're just starting.
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CWFG - on late day volume NEXH - if you can get in at .0002 PDSC - has come down but should go back up Corr - I just like this company and if you are a big spender try NUAN.This will pay your kids college fund in the future.
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