The story of the buy backs, as told by the TA numbers. This is a borrowed post. I hope the original author does not mind the repost, but it sums it up perfectly.
Ask is still *.0001 Why?
IMO, Buyer beware ------------------------------------------------- Update: New numbers from the TA:
Totals on 5/23/2006: Tradable: 44,507,805,817 Restricted: 28,233,767,126 Total: 72,741,572,943
Totals as of 6/14/2006 Tradable: 47,507,805,817 Restricted: 22,033,767,126 Total: 69,541,572,943
To start with, Dan took 6.2 billion out of his restricted portion. Then, from the 6.2 billion shares, he took 3.2 billion and retired them. The remaining 3 billion ($300,000 * .0001) were either cashed in or spent on projects unknown.
I'll give this scenario a positive spin. Dan spent the $300,000 on worthwhile projects that in the future will guarantee a rise in the PPS.
For those who want to dig a little deeper, it should be clear by now that the PR's of reducing the OS are not what they appear to be. According to the numbers, since all the shares came from the restricted portion of the OS that means nothing needed to be purchased on the open market. So, all the talk of the volume relating to Dan purchasing shares on the open market are suspect. The recent volume may, in fact, have been SMMW selling the 3 billion shares (dumping) on the market to raise funds for undetermined reasons.
So, yes, it is possible for Dan to reduce the OS and dump at the same time.
What is the end result? Well, retail investors deal with the tradable portion, not the restricted. Dan just added 3 billion more shares, to the tradable portion, that have to be moved before any PPS increase is possible.
In addition, one has to reconcile the above information with the PR's. Note in several of the PR's where it's mentioned that the shares will be purchased. That phrase makes it sound like we have the eyes of lenders and large institutions who are waiting in the wings to help us out.
In light of the TA figures, however, it begs the question of what funding, if any, was needed to realize the above results? The simplest way to interpret the above is that Dan took 6.2 billion from his restricted pile, shares he did not have to pay a dime for, and converted 3 billion into cash or deals and the remaining 3.2 billion he retired. If the simplest answer is the explanation, then where does all this talk of cash and institutional lending come in? Smoke and mirrors?
As always, these are my opinions. They may be right or wrong. Let the reader make up their own minds.
June 5: "announced it is initiating a share buy back program and will buy back up to four billion shares of Company stock."
June 7: "announced it is funding the Company's share buy back program through a combination of cash and institutional lending."
June 8: "announced the Company has retired six hundred million shares of outstanding common stock, to be returned to the
Company's transfer agent and cancelled."
June 13: "to increase shareholder value through share buy backs and the cancellation of outstanding common stock has
reduced the total of shares issued and outstanding by 700,000,000 shares."
June 14: "announced the Company retired and cancelled five hundred million shares of outstanding common stock."
Posts: 152 | From: fla | Registered: Feb 2006
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Posts: 152 | From: fla | Registered: Feb 2006
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posted
Prrm-Facts, If you hate SMMW so much to the point where all you can do is be negative why don't you just cut and run. I must say your act is really old.
Posts: 72 | From: So. California | Registered: Aug 2005
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posted
Beckstercj I look at both sides. Notice it says prrm-facts.
I can't help it if the only things that are posted are the Going to the Moon posts.
Sorry, just trying to give the other side of the story.
Although you may not like it, some who are looking for information to make a decision on investing or not, may appreciate it. What they do is their choice.
Would you want to cheat them out of the right to know these facts on the share structure, Lawsuits, back taxes, dumping of restricted shares?
I'm sure you wouldn't.
Posts: 152 | From: fla | Registered: Feb 2006
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posted
Summus Works, Inc: Issued and Outstanding Shares Reduced to Under 70,000,000,000 6/15/2006
Denver, CO., Jun 15, 2006 (M2 PRESSWIRE via COMTEX News Network) -- Summus Works, Inc. (Pink Sheets: SMMW) confirmed its VVV initiative to increase shareholder value through share buy backs and the cancellation of outstanding common stock has reduced the total of shares issued to under 70,000,000,000. Management stated that it will continue to reduce the issued and outstanding in its ongoing campaign to enhance the Company's price per share. Management cited its unwavering commitment to the Company's initiative to enhance shareholder value and effect the rise in price per share necessary to facilitate pending and future mergers and acquisitions.
Summus Works, Inc. (Pink Sheets: SMMW) is a multi-media holding company with interests in outdoor sports, retail, e-tail, print, web, television and film. For more information on the company or its outdoor sports and media subsidiaries, visit www.summusworks.com.
This release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
SOURCE: Summus Works, Inc.
CONTACT: Company Contact: Dan Burgess, Summus Works, Inc. Tel: +1 888 607 9495 e-mail: summus*summusworks.com Investor Relations Contact: Stuart T. Smith, SmallCapVoice.com Tel: + 1 512 267 2430 e-mail: Info*Smallcapvoice.com
M2 Communications Ltd disclaims all liability for information provided within M2 PressWIRE. Data supplied by named party/parties. Further information on M2 PressWIRE can be obtained at http://www.presswire.net on the world wide web. Inquiries to info*m2.com.
posted
prrm-facts - you did the right thing. Every time I put the facts out there, I am hammered for being a basher. Some of those who buy these stocks don't like it when the truth slaps them and they realize they made a bad decision. For whatever reason they don't want you to put out the facts. It's either that they don't want to be remonded what a bad choice they made or they want to keep making it look good so they can sucker someone else and get out without losing as much. Keep it up. We need some common sense and facts out here.
Posts: 2132 | Registered: Sep 2004
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Posted by: retiredcoach In reply to: None Date:6/15/2006 1:40:35 PM Post #of 14268
Huge Merge !!! ?
OK, to me, this makes it sound like a merger is on the horizon. Dan did mention in P/R's and the audio interview, the word megers.
Could be good, could be bad.
Remember something, a merger does not have to be a one for one exchange. Another question, why has the resricted been going down if a great merger is coming?
Have the restricted been sold at their best possible price?
Posts: 152 | From: fla | Registered: Feb 2006
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OK, to me, this makes it sound like a merger is on the horizon. Dan did mention in P/R's and the audio interview, the word megers.
Could be good, could be bad.
Remember something, a merger does not have to be a one for one exchange. Another question, why has the resricted been going down if a great merger is coming?
Have the restricted been sold at their best possible price?
Posts: 152 | From: fla | Registered: Feb 2006
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posted
COMPANY NEWS AND PRESS RELEASES FROM OTHER SOURCES:
bellwetherreport.com: The Bellwether Report notices the High Level of Activity Surrounding Summus Works, Inc
Jun 19, 2006 (M2 PRESSWIRE via COMTEX) -- Summus Works, Inc (OTCPK:SMMW), is a company that our research team will be tracking over the ensuing weeks. They recently came out with a significant corporate development, causing a market stir. The BWR Research Team will continue to bring its subscribers cutting edge research tools, and second to none customer service. Summus Works, Inc., multi-media holding company with interests in outdoor sports, retail, e-tail, print, web, television and film, earlier this morning announced the Company has reduced its total shares issued and outstanding by more than five percent to 69,955,000,000 shares.
Management stated it will continue its aggressive VVV initiative to enhance shareholder value and its campaign to further reduce the total shares issued and outstanding.
The Board of Directors held a meeting to discuss the financing of a proposal to purchase up to $748,000.00 of the Company's outstanding common stock in respect to the recent "SqueezeTrigger" price determined by ********** of $0.00022.
The Board discussed its lender financing options, secured personally by Company officers and members of the Board, committed to eliminating once and for all the one sided quote and sideways movement of the Company's stock.
"We believe the share price does not accurately reflect the intrinsic value of our company and its business prospects. We share the concern of our shareholders regarding the low price per share and are resolutely determined to combat it through action utilizing personal resources," declared Summus Works President Dan Burgess. He noted that while the Board has not proclaimed a unanimous course, the members have agreed action is necessary to increase shareholder value.
Yesterday, this company retired six hundred million shares of outstanding common stock, to be returned to the Company's transfer agent and cancelled.
Following this announcement, shares of Summus Works, Inc enjoyed a jump to $0.0001, on volume of nearly 400 million. This company has lots of potential but cannot seem to keep investors interested long enough for any decent runs. This company is focused on generating enough cash flow, in order to find ways to increase shareholder value. The past week has been very exciting for this company as they move forward with hopes of a brighter future ahead of them.
The BWR Research Team will continue to follow Summus Works, Inc over the ensuing weeks, watching for any new corporate developments or significant changes in the share price.
To review research on small cap companies like Summus Works, Inc, as well as many more exciting articles we encourage you to visit www.bellwetherreport.com. You can find these reports under the "Today's Articles" section. No credit Card Needed!!
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Posts: 72 | From: So. California | Registered: Aug 2005
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--INSIDERS HOLD 56.2% --Tradeable Float 47 Billion --Audit will be completed by the end of the month and PRed. --Buying back at least 10 Billion more. --NO R/S HERE IT IS....http://www.smallcapvoice.com/smmw/smmw-6-19-06.html
Posts: 1637 | Registered: Apr 2004
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posted
Summus Works, Inc. on ********** Report Analysis, ``VVV Initiative: Value''
DENVER, Jun 20, 2006 (BUSINESS WIRE) -- Summus Works, Inc. (Pink Sheets:SMMW) management released a statement today referencing **********'s recently reported increase in the short selling of the Company's stock in the months of May and June: "The Company will resolutely maintain its concerted efforts to enhance shareholder value according to plan and without repose until the market value better reflects the prospects and merits of Summus Works and its subsidiaries." The "SqueezeTrigger" report released Thursday, June 15 utilizes **********'s proprietary algorithm to indicate an expected "short squeeze" to begin when shares of SMMW close above $0.00017.
"Short selling may have its place in fair market practices. We believe that our unfaltering course of action will prevail, and prevent the potential for abusive short selling that unfortunately occurs in the market place. Of this we are confident," said Summus Works President, Dan Burgess.
Summus Works, Inc. (Pink Sheets:SMMW) is a multi-media holding company with interests in outdoor sports, retail, e-tail, print, web, television and film. For more information on the company or its outdoor sports and media subsidiaries, visit www.summusworks.com.
This release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
SOURCE: Summus Works, Inc.
CONTACT: Summus Works, Inc. Dan Burgess, 888-607-9495 summus*summusworks.com www.summusworks.com or SmallCapVoice.com (Investor Relations) Stuart T. Smith, 512-267-2430 info*smallcapvoice.com www.smallcapvoice.com
Copyright Business Wire 2006
Posts: 420 | From: Canada | Registered: Feb 2006
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posted
It looks like those insiders are making a buck for themselves at the expense of the "regular" shareholders like us. Does that some it up?
Posts: 486 | From: Tennessee | Registered: Jun 2005
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posted
1) pps isn't going to budge with 47 billion shares. pps isn't going to budge with 25 billion shares, but everyone keeps jumping for joy everytime they "reduce" the share count by a billion or two, and as you have pointed out, they haven't really made a dent in the O/S.
2) What great news that will make this stock shine??? Show me a PR with teeth?
Posts: 486 | From: Tennessee | Registered: Jun 2005
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Maybe the restricted shares are shares paid for services and/or product to vendors instead of cash. The company may actually see value in the company and those shares. Buying back restricted shares and retiring them would add cash value in the future to the company.
This has happened with many companies, so it is not just a wild azz guess. Just another theory.
Anybody want to call Dan and ask why the restricted shares are reducing and the market shares stays about the same?
I would, but I am really busy at work and can't.
GLTA
-------------------- A day without dreams is just a nightmare! Posts: 1702 | From: Michigan | Registered: Oct 2003
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posted
It seems to me according the the below numbers that the total number of shares are down 10+ Billion sence last Ferbuary. Or am I wrong?
Authorized Shares: 80,000,000,000 as of 2006-02-16 Float: 29,289,934,558 as of 2005-03-11
Posts: 72 | From: So. California | Registered: Aug 2005
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quote:Originally posted by justplayin: Here is a wild thought.
Buying back restricted shares and retiring them would add cash value in the future to the company.
This has happened with many companies, so it is not just a wild azz guess. Just another theory.
GLTA
Yes, that would be good if they were retiring the restricted. But, the TA shows they are not all being retired. Most are now in the tradable. Good for whoever held the restricted, bad for common shareholders. More shares must move in order for you to see added value to your investment.
Posts: 152 | From: fla | Registered: Feb 2006
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posted
Total O/S has been reduced by about 5 billion in one month.
NO company in their right mind would announce a buyback and buy back all at once artifically driving pps up and getting less shares for the same money.
O/S is moving down! Now the proof is in the A/S. If that stays or goes down, we are O.K.
A/S plays even a bigger part in the worth of pennies. If they have authorized shares in the treasury, they can dump!!
As long as the O/S continues to drop, I will take Dans word on trying to provide shareholder value. Yes, 5 billion is little on a 75 billion O/S, but anybody knows the buyback will take some time. Until then, this is a really CHEAP lottery ticket.
Oh, and we have no idea at what pps the restricted shares are valued at. It may be less or more that the current pps.
With the amount of shares, the pps will NOT rise until the 0/S is reduced, plain and simple.
-------------------- A day without dreams is just a nightmare! Posts: 1702 | From: Michigan | Registered: Oct 2003
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posted
I have a small position in this one as well. Let's hope for an upswing...
Posts: 741 | From: North Carolina | Registered: Feb 2006
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quote:Originally posted by justplayin: With an average of a billion shares a day traded, I am going nuts trying to figure this out.
The O/S is being reduced (only slightly), the A/S has not changed, and the pps does not change.
If this volume stays this way and the company does not dump, it MUST move up!
C'mon Dan, buy up alot of the O/S so we can make some money!
It's really very simple. Look at the numbers again. Like you stated, the O/S has only gone down slightly and the A/S has not been reduced.
Selling the restricted, that after sold become part of the common float. Does this mean that whoever sold the restricted made money? There really is no way to know for sure. What does your common sense tell you.
Is this buy back just smoke and mirrors.
Billions upon billions of shares are traded and you can still buy all you want at .0001?
Red flags? Caution tape?
Be your own judge.
Since 11/1/2005 the totals have fluctuated like this:
Tradable increased by: 14,123,427,977 (Up by 42%) Restricted decreased by: 15,350,000,920 (Down by 41%) Total OS reduced by: 1,226,572,943 (Down by 2’ish%)
Posts: 152 | From: fla | Registered: Feb 2006
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posted
Summus Works, Inc. Cancels Common Stock, Further Reducing Issued and Outstanding by 300,000,000 Shares
July 06, 2006 12:27:37 (ET)
DENVER, Jul 06, 2006 (BUSINESS WIRE) -- Summus Works, Inc. (Pink Sheets:SMMW) announced the Company retired and cancelled three hundred million shares of outstanding common stock. The shares are the latest to be retired and cancelled by the Company in accordance with management's VVV initiative to enhance shareholder value. Management stated that it will continue to reduce the issued and outstanding in its ongoing campaign to augment the Company's price per share.
-------------------- "We're just all victims of soicumstance." The 3 Stooges Posts: 346 | From: Indiana | Registered: Nov 2004
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posted
Whoa - it just hit .0002 * 23mil volume and I couldn't sell 500k shares at that price. I just startted using ChoiceTrade - do I need to change to another broker company in order to be able to sell when the price moves?
Posts: 5 | Registered: Jun 2006
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posted
It went from .0001 to .0002 then fell flat on it's back once again. And you had to give that extra point to the MM just to get out if that's what you did. So you made nothing and lost the commission fee. You need at least a few points on the spread to make a profit in micro/nano-caps The rest goes the man (Mr.MM) for his devoted time and attention in executing your trade.
Posts: 669 | From: Gouldsboro, Pa. | Registered: May 2006
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