posted
I thought for sure this news would keep up on top of the boards-cmon guys lets wake up.I guess people had been sticking around waiting for Ryals so long that we all have just become tired.lol I also think even though this news is great and seems even better that it is still going to take some even better news to move us(which will happen very very soon IMHO).I think we will need to see news of mula coming in to the company!I expect it by weeks end actually--------IMHO
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posted
Investors are immune to CWFG's PR's. They've all been fluff or flat out lies in the past 12 months. Nobody cares anymore.
If and when McGovern can legitimize CWFG and give real earnings reports, we'll see the PPS start to move. But you better know there will be SERIOUS profit taking once this thing does move. Too many people have been holding the bag for too long. The first chance they have to bail out for a slight profit, they will bail big time. And the MM's will continue to rape this stock.
There's only a few of us patiently going long with CWFG...
-------------------- The more weedsmoke I puff the more dangerous...
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posted
thats good news for me-let them get out!I don't think it is going to take earnings - lil companies like this probably wont have an official earnings report
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posted
Well they sound like they have their act together, only time will tell if it's just another well written bunch of statements or if it will really work! HEY anything right now is better than what we had, so I can only hope for some nice news saying they got something solid for us to look at. Just fun to hold on to this for a bit longer. Not to much in this myself
posted
Commonwealth American Financial Group, Inc. (symbol CWFG) has undergone a friendly takeover. CWFG president Kristen Riles has turned over the helm to Chris McGovern, who was appointed by the new shareholder majority. McGovern came to the Midwest from Boeing, where it was his job to save the company money by restructuring processes and cutting costs. McGovern has also been the Sr. Vice President of an insurance company, an entrepreneur, and a loan officer. His diverse experience has given him insight into what makes a business thrive or dive. CWFG could not afford to pay him what he was asking, and he negotiated a straight-commission pay schedule, with an un-disclosed amount of company stock. McGovern commented “You can’t get rich on a salary. The only way to make real money is if you participate in the risk/reward equation. I’ll make a lot more money this way, because I’m paid what I’m truly worth, and I now have a “dream team” of experienced professionals on my team. I’ll be able to see my net worth go up with my performance. If I don’t make the company money, I starve. And believe you me, I am not planning on going hungry.” McGovern is holding his stock. The name isn’t all that’s new, the entire direction and philosophy of the company is new. Watch the press releases for more news. “You’re going to like it.” Says McGovern.
-------------------- Trading is a blast!!
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posted
I like the fact this guy said no R/S.I think that will bring people on board and also this guy sounds like he has a lot ideas which can only be good for this.If this guy can move this stock a little it will be well worth it.
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posted
I don't know man. Same story all over again, like with that Ryals woman. Still holding 10 million shares though, waiting for something to happen...
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posted
23 MIL right out the gate !! -- I kinda thought we would see a PR today outlining the new company -- But i guess they expect the website to do that -- Website much nicer than Commonwealths
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Commonwealth American Financial Group Announces New Company Leadership Secures $100,000 Contract in First Week Thursday May 4, 10:48 am ET
CHICAGO--(BUSINESS WIRE)--May 4, 2006--Commonwealth American Financial Group, Inc. (Pink Sheets:CWFG - News) announces that a contract with Bradford Mortgage (www.bradfordmortgage.com) has been signed and finalized, which will pay James Monroe Capital Corporation for marketing and compliance services $100,000 per year. Payments from Bradford Mortgage to James Monroe Capital Corporation will begin on August 1, 2006. ADVERTISEMENT
The company name will soon be changed to James Monroe Capital Corporation.
Chris McGovern, President said: "We look forward to the relationship with Bradford Mortgage and our existing Commonwealth stockholders. We are excited to have this new enterprise join Commonwealth in management's first week on the job."
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Am I the only one who feels tempted to throw more in this??? I mean, this is already a gazillion times better than CWFG. Great website, and already a $100,000/year contract signed. That's more than CWFG ever had already.
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posted
I will throw some more in if we see some more contracts and maybe some Direct no fluff PR with a business plan on what they are doing short term here
posted
Finally, a decent PR with some real meat... even if it's a measly $100,000 contract, this is still better than Ryals ever did with CWFG.
And the website is decent too. They could get rid of the 'tard on the homepage, though... Anyway, it's nice knowing they are headquarted in a very affluent area (Northbrook, IL). This lends quite a bit of credibility to the company.
Hang in there kids... it may take 6-9 months for the PPS to move, but it's going to finally be worth the wait. I think we've turned the corner and we're on a slow, but sure trek to going green.
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They have to be buys. I don't think you can sell right now, unless you're selling at market, which would be completely insane. Based on the decent news, I gotta believe these are buys.
-------------------- The more weedsmoke I puff the more dangerous...
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Commonwealth American Financial Group Announces New Company Leadership Secures $100,000 Contract in First Week via COMTEX
May 4, 2006
CHICAGO, May 04, 2006 (BUSINESS WIRE) --
Commonwealth American Financial Group, Inc. (Pink Sheets:CWFG) announces that a contract with Bradford Mortgage (www.bradfordmortgage.com) has been signed and finalized, which will pay James Monroe Capital Corporation for marketing and compliance services $100,000 per year. Payments from Bradford Mortgage to James Monroe Capital Corporation will begin on August 1, 2006.
The company name will soon be changed to James Monroe Capital Corporation.
Chris McGovern, President said: "We look forward to the relationship with Bradford Mortgage and our existing Commonwealth stockholders. We are excited to have this new enterprise join Commonwealth in management's first week on the job."
his press release does not constitute an offer of any securities for sale. This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements involve certain risks and uncertainties that could cause actual results to differ, including, without limitation, the company's limited operating history and history of losses, the inability to successfully obtain further funding, the inability to raise capital on terms acceptable to the company, the inability to compete effectively in the marketplace, the inability to complete the proposed acquisition and such other risks that could cause the actual results to differ materially from those contained in the company's projections or forward-looking statements. All forward-looking statements in this press release are based on information available to the company as of the date hereof, and the company undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release.
SOURCE: Commonwealth American Financial Group
Commonwealth American Financial Group, Northbrook Chris McGovern
-------------------- The difference between genius and stupidity is that genius has its limits
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Doing a little investigation, I found something that is kindof concerning. Doing a WHOIS lookup on the bradfordmortgage website shows the administrative contact as Tausz, Judy, however the email address is chrism*bradfordfinancialcenter.com. chrism=Chris McGovern? Now, I'm not saying that this deal isn't legit, but I do find it highly coincidental.
quote:Originally posted by Tull: Doing a little investigation, I found something that is kindof concerning. Doing a WHOIS lookup on the bradfordmortgage website shows the administrative contact as Tausz, Judy, however the email address is chrism*bradfordfinancialcenter.com. chrism=Chris McGovern? Now, I'm not saying that this deal isn't legit, but I do find it highly coincidental.
Tull
Good catch. Chris McGovern is the senior VP of the Bradford Financial Center which apparently owns Bradford Mortgage. They are a financial planning firm. This sounds like a typical set up (I have it too). This contract for "consulting" is basically his salary from Bradford. But instead of paying him directly they pay his corporation. this allows him to take all of his expenses off of the bottom line before he has to pay any taxes on that $100K. By them paying the corp instead of him, and then him paying himself, It can also allow him to stash more in like a SEP IRA than he could through a 401k or something similar. If he is the only employee he could put over 40K (I forget the exact total) of that away tax deferred.
Let's hope for a contract with a company we don't already run.
-------------------- I just want to make enough money to be eccentric.
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