posted
wtf this company sucks I have five spinoffs from prvh with no value at all 2 years henry sucks... but glta have made money thou....best of luck..
Posts: 1073 | Registered: Oct 2005
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Where did he post that one? I got VNBL this morning at 10am off his yahoo groups page.
Posts: 28 | From: Georgia | Registered: Apr 2006
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Does pennybuster buy these stocks and then a few days later talk about them to get everybody to buy and run the price up, and then he dumps his. Because last friday some people were talking about his stocks and now they are down. Just curious?
Posts: 155 | From: WEST TEXAS | Registered: Apr 2006
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Wall Street News Alert: MTNA, Tuesdays Hot Stock to Watch! April 25, 2006
Providential Holdings, Inc. (PRVH) up 28% on 2.6 million shares traded.
Providential Holdings is a diversified holding company primarily engaged in the oil and gas business and mergers and acquisitions. Providential Holdings, Inc. recently announced it has primarily engaged in mergers and acquisitions and independent oil and gas business, has signed an Agreement with Cavico Corporation, a Vietnamese joint stock company, to assist Cavico to become a publicly-traded company in the US and obtain $10 Million in funding from institutional investors.
-------------------- "Great Day for Up!"....Dr. Seuss Posts: 3387 | Registered: Mar 2006
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Trading relatively low compared to a few others on my list........promising...
The pages of litigation this company was and currently involved with......BAD!
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LEGAL PROCEEDING SETTLED AND UNPAID AS OF DECEMBER 31, 2005:
QUANG VAN CAO AND NHAN THI NGUYEN CAO VS. PROVIDENTIAL SECURITIES, INC. ET AL.
This case was originally submitted to Orange County Superior Court, CA on June 25, 1997, Case No. 781121, and subsequently moved to NASD Dispute resolution for arbitration. On or about August 24, 2000, the Company's legal counsel negotiated with the Claimant's counsel and unilaterally reached a settlement that had not been approved by the Company. While the Company was in the process of re-negotiating the terms of said settlement, the Claimants filed a request for arbitration hearing before the National Association of Securities Dealers on October 4, 2000, Case No. 99-03160. Thereafter, the Claimants filed a complaint with the Orange County Superior Court, CA on October 31, 2000, Case No. 00CC13067 for alleged breach of contract for damages in the sum of $75,000 plus pre-judgment interest, costs incurred in connection with the complaint, and other relief. Without admitting or denying any allegations, the Company reached a settlement agreement with the Claimants whereby the Company would pay the Claimants a total of $62,500 plus $4,500 in administrative costs. As the date of this report, the Company has paid $2,500 and is subject to an entry of judgment for $79,000. The settlement amount has been accrued in the accompanying consolidated financial statements.
CONSECO FINANCE VENDOR SERVICES CORPORATION FKA GREEN TREE VENDOR SERVICES CORPORATION VS. PROVIDENTIAL SECURITIES, INC., HENRY D. FAHMAN AND TINA T. PHAN
In September 1997 Providential Securities, Inc. entered into a written Lease Agreement to lease certain items of equipment from Green Tree Vendor Services, in return for which Providential Securities, Inc. agreed to pay thirty-six monthly installments, each in the amount of $1,552. On or about September 12, 2000, and subsequently, Providential Securities, Inc. was unable to make the monthly payments to Claimant due to the lack of revenues following the interruption and subsequent closure of its securities brokerage operations. (See Note 3) Claimant filed a complaint for money with the Superior Court of the State of California, County of Orange (Case No. 01CC02613) on February 23, 2001 seeking $39,102 plus interest thereon at the legal rate from September 12, 2000. The claimant entered a judgment against Providential Securities, Inc., Henry Fahman and Tina Phan for $48,933. The judgment amount has been accrued in the accompanying consolidated financial statements.
This case is pre-arbitration. The Company hired Mark Tow, Esq. to prepare an SB-2 Registration Statement and prepaid him $25,000 in retainer. Because Mark Tow was unable to complete the work according to schedule, the Company hired another law firm to replace Mark Tow. This new firm completed the SB-2 Registration Statement and filed with the SEC on September 28, 2000. Mark Tow sent the Company a letter in June 2001 seeking a total of $75,000.00 for his allegedly rendered service. The Company has accrued $50,000 relating to this case in Accrued Expenses in the accompanying consolidated financial statements since the original agreement with Mark Tow was for a total service fee of $75,000 and the Company has already paid $25,000 as a retainer to be offset against the total fees. As of the date of this report there has been no filing for arbitration by Mark Tow.
NGON VU VS. PROVIDENTIAL SECURITIES, INC.
Claimant was a former employee of Providential Securities, Inc. who was laid off in 2000 due to closure of business. The Claimant complained to the Department of Industrial Relations (DIR) for allegedly unpaid vacation and salaries. On June 13, 2001, the DIR filed a request to enter a judgment against Providential Securities, Inc. for $9,074 including wages and interest, penalty, post hearing and filing fee. The sought amount of $9,074 has been accrued in the accompanying consolidated financial statements.
VERIO VS. PROVIDENTIAL SECURITIES, INC.
On or about April 1, 2003, Verio, Inc. filed a judgment against Providential Securities, Inc., a wholly-owned subsidiary of the Company which was discontinued in October 2000, for a total of $9,141. This sum consists of $6,800 for services allegedly rendered by Verio, Inc. to Providential Securities, Inc. in 2000 and $2,341 for legal costs. Both amounts have been accrued in the accompanying consolidated financial statements.
DOW JONES & COMPANY, INC. VS. PROVIDENTIAL SECURITIES, INC. AND PROVIDENTIAL HOLDINGS, INC.
On March 19, 2002 Dow Jones & Company filed a complaint with the Superior Court of California, County of Orange, West Justice Center (Case No. 02WL1633), against Providential Securities, Inc., the discontinued operations of the Company, and Providential Holdings, Inc. for $9,973 plus prejudgment interest at the rate of ten (10%) per annum from November 1, 2000, reasonable attorneys’ fees and other and further relief. This claim is in connection with services allegedly rendered by the Plaintiff to Providential Securities, Inc. prior to November 2000. The Company intends to settle this case. The sought amount of $9,973 (excluding interest) has been accrued in Accrued Expenses in the accompanying consolidated financial statements.
LUBERSKI, INC. VS. PROVIDENTIAL HOLDINGS, INC. AND HENRY D. FAHMAN
On November 22, 2005, Luberski, Inc., a California corporation, (“Plaintiff”) filed a claim against the Company and Henry D. Fahman, its president, (“Defendants”) for damages up to $160,000 in connection with a loan in the amount of $100,000 made by Plaintiff to the Company on August 23, 2004. On 1/11/2006, the Plaintiff entered a default against the Defendants and on 2/06/2006, a judgment in the amount of $154,298, including interest, attorney fees and costs, was entered against the Defendants. The full amount of the judgment is reflected in the consolidated financial statements at December 31, 2005.
TIMOTHY E. LUBERSKI VS. PROVIDENTIAL HOLDINGS, INC. AND HENRY D. FAHMAN
On November 22, 2005, Timothy E. Luberski (“Plaintiff”) filed a claim against the Company and Henry D. Fahman, its president, (“Defendants”) for damages up to $12,600 in connection with Plaintiff’s purchase of 100,000 shares of the Company’s restricted common stock on March 19, 2004. At the time of the purchase, Henry D. Fahman signed a personal guarantee to make up the difference if the Company’s stock price would not reach $0.17 per share one year after the date of purchase. On 1/11/2006, the Plaintiff entered a default against the Defendants and on 2/06/2006, a judgment in the amount of $12,748, including filing fees, was entered against the Defendants. The full amount of the judgment has been accrued in Accrued Expenses in the consolidated financial statements for the period ended December 31, 2005.
NICK L. JIORAS AND MELODEE L. JIORAS VS. PROVIDENTIAL HOLDINGS, INC. AND HENRY D. FAHMAN
On November 22, 2005, Nick L. Jioras and Melodee L. Jioras (“Plaintiffs”) filed a claim against the Company and Henry D. Fahman, its president, (“Defendants”) for damages up to $15,400 in connection with Plaintiffs’ purchase of 100,000 shares of the Company’s restricted common stock on March 19, 2004. At the time of the purchase, Henry D. Fahman signed a personal guarantee to make up the difference if the Company’s stock price would not reach $0.17 per share one year after the date of purchase. On 1/11/2006, the Plaintiffs entered a default against the Defendants and on 2/06/2006, a judgment in the amount of $15,795, including filing fees, was entered against the Defendants. The full amount of the judgment has been accrued in Accrued Expenses in the consolidated financial statements for the period ended December 31, 2005.
ARBITRATION CASES:
The Company had four arbitration cases from day-traders against Providential Securities, Inc., a discontinued stock brokerage operation of the Company. The total amount of damages for these cases, which were closed as of June 30, 2001, was $54,505. This amount has been accrued in the accompanying consolidated financial statements.
Posts: 793 | Registered: Aug 2004
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There isn't too many under .10 with low floats, and MC's under 5 million...
For the sake of things, this one could run for other reasons,,,,,,but I am trying to find a few that I can grab some shares and forget about for awhile....
Posts: 793 | Registered: Aug 2004
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Providential Holdings Rated 'Speculative Buy/4' by Investrend Research Analyst Mohammad Sharifzadeh, MBA, CFA
By BusinessWire Last Update: 6/5/2006 8:30:04 AM Data provided by
NEW YORK, Jun 05, 2006 (BUSINESS WIRE) -- (Investrend Research Syndicate) - Providential Holdings (PRVH) has been rated "Speculative Buy/4" in a Benchmark Research Report issued by Investrend Ressearch Analyst Mohammad Sharifzadeh, MBA, CFA.
The analyst stated:
Investment in Providential Holdings common stock could be very rewarding for investors with long-term horizon who are willing to accept the risks. PRVH recent involvement in oil exploration business to develop, jointly with Terra-Firma Gas & Oil, LLC, up to twenty four gas wells in Crockett County, West Texas, could be quite promising.
The terms of the agreement with Terra-Firma Gas & Oil, LLC are very favorable for PRVH, a 75% share in the net working interest from the first two wells until PRVH capital funding is repaid and a 50% share in the net working interest for the life of the two wells.
Also, PRVH advisory and consulting business has recently achieved a new dimension that could lead to some regular source of noticeable revenues. Their success in bringing Cavico Vietnam Joint Stock Company into the U.S. stock market could put PRVH in the position to attract more of the newly privatized Vietnamese companies into the U.S. capital market and thus turn this activity into a recurring source of revenues.
The company still has operating losses and has accumulated over $18.9m in net losses over the years. As of March 31, 2006, the company's net working capital was positive $521,545 and shareholders equity was positive $521,454, whereas similar metrics for comparable 2005 balance sheet were substantially on the negative.
The company pursues its business strategy by (i) identifying and acquiring controlling interests in entities that could generate competitive advantage for the company, (ii) identifying large growing markets and participating in such businesses through establishing agreements, joint ventures, or other forms of cooperation with appropriate bodies, (iii) designing and implementing sound management systems, and (iv) Providing points of exit for investors through capital appreciation or public offerings of individual business units.
Investrend Research has been the leading independent equity research publishing and distribution program since 1996, with over 75 AIMR-qualified professional analysts posting more than 1,000 reports to date. Anyone may enroll a company in the Investrend platforms. Enrollment fees for the Benchmark Research platform is $26,800 per annum, and the fees are being paid by the company.
Investrend Research subscribes to the "Standards for Research Providers" at http://www.firstresearchconsortium.com, and the research is investor-monitored by the Shareholders Research Alliance, Inc. (http://www.shareholdersresearch.com).
Anyone interested in receiving alerts regarding Providential Holding research or webcasts should e-mail contact*investrend.com with "PRVH" in the subject line.
SOURCE: Providential Holdings
-------------------- "Great Day for Up!"....Dr. Seuss Posts: 3387 | Registered: Mar 2006
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Providential Holdings Acquires Key Assets of Western Medical Inc., a Durable Medical Equipment Company Business Wire - June 07, 2006 09:00
HUNTINGTON BEACH, Calif., Jun 07, 2006 (BUSINESS WIRE) -- Providential Holdings Inc. (OTCBB:PRVH) (Berlin Stock Exchange and Frankfurt Stock Exchange:PR7 - WKN 935160) (www.phiglobal.com) today announced that it has signed an asset purchase agreement to acquire key assets of Western Medical Inc. ("Western"), an Arizona corporation engaged in the business of selling durable medical equipment and providing related services, with locations in Prescott and Tucson, Arizona, and headquarters in Phoenix.
According to the asset purchase agreement, Providential Holdings will purchase key assets, valued at approximately $15 million, of Western Medical Inc. for $5.25 million in cash. These assets include:
(i) all of the Western's inventory, now or hereafter owned or acquired by Western wherever located, including all inventory, merchandise, goods and other personal property which are held by or on behalf of Western for sale or lease or are furnished or are to be furnished under a contract of service or which constitute raw materials, whole goods, spare parts or components, work in process or materials used or consumed or to be used or consumed in Western's business or in the processing, production, packaging, promotion, delivery or shipping of the same, including other supplies;
(ii) all right, title and interest of Western's accounts receivable, other receivables, book debts and other forms of obligations, whether arising out of a sale, lease or other disposition of goods or other property, out of a rendering of services, or otherwise arising under any contract or agreement; rights in, to and under all purchase orders or receipts for goods or services; rights to any goods represented or purported to be represented by any of the foregoing (including unpaid seller's rights of rescission, replevin, reclamation and stoppage in transit and rights to returned, reclaimed or repossessed goods); and monies due or to become due to Western under all purchase orders and contracts for the sale or lease of goods or the performance of services or both by Western (but only to the extent Providential or its designated subsidiary assumes and performs under such purchase orders and contracts), including the proceeds of the foregoing:
(iii) all of Western's owned equipment, including all machinery, vehicles, furniture, fixtures, manufacturing equipment, shop equipment, office and record-keeping equipment, parts, telephone systems, tools and supplies; provided, however, Providential will not acquire: any leased equipment unless Providential assumes the applicable lease and such is assigned by order of the Bankruptcy Court;
(iv) to the extent legally transferable under applicable law, all Western's rights and interests in its general intangible, including Western's Medicare provider number, all contract rights, including those pertaining to AHCCCS, licenses, permits, patents, patent applications, copyrights, trademarks, trade names, trade secrets, Western's rights in its telephone numbers, customer or supplier lists, product information and formulae and contracts, manuals, operating instructions, permits, franchises, the right to use Western's name, and the goodwill of Western's business; together with
(v) all substitutions and replacements for and products of any of the foregoing property,
(vi) in the case of all tangible property, together with all accessions, accessories, attachments, parts, equipment and repairs attached or affixed to or used in connection with any such goods, and all warehouse receipts, bills of lading and other documents of title now or hereafter covering such goods, and
(vii) all proceeds of any and all of the foregoing property.
To accomplish the contemplated purchase, Western Medical and Providential Holdings expect that Western Medical will file a Chapter 11 Petition within five business days of the execution of the asset purchase agreement. Thereafter, they will move for the authority to sell the assets to Providential and provide for the assumption and assignment of certain executory contracts to Providential under the terms of the agreement. Both companies understand and acknowledge such sale will be subject to higher and better bids that may be asserted and approved by the Bankruptcy Court. Further, Providential may, in its sole discretion, advance financing to allow Western Medical to purchase equipment and inventory to fulfill customer orders prior to the closing under this agreement. The terms of such financing, if any, will be documented separately and conditioned upon Providential reaching an agreement with the M&I Marshall Isley Bank vis-a-vis the security and priority afforded to such financing, and, if applicable, the Bankruptcy Court approval.
Providential has received several indications of interest and commitments from various institutional investors to fund the purchase of these assets. The closing of this transaction is subject to the approval of the Bankruptcy Court and other conditions as described in the asset purchase agreement; and is expected to occur on an agreed-upon date no later than 10 business days following entry of a final Sale Order by the Bankruptcy Court.
Robert Buceta, corporate strategist of Providential Holdings, who is instrumental in the process of this asset purchase transaction, commented: "We look forward to building an exceptional company at all levels. Our experienced management team will make Western Medical an industry leader in providing the highest quality services and products for home health care. We firmly believe that our growth and accomplishments stem from the caliber of our employees, who strive to exceed our clients' expectations."
SOURCE: Providential Holdings Inc.
Providential Holdings Inc. Robert Buceta, 714-843-5450 www.phiglobal.com
-------------------- "Great Day for Up!"....Dr. Seuss Posts: 3387 | Registered: Mar 2006
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Providential Holdings Steps Up M&A Advisory and Investment Banking Activities in China; CEO Henry Fahman Participates in 2006 First China Nanjing International Pharmaceutical Conference Business Wire - June 20, 2006 08:30
NANJING, China, Jun 20, 2006 (BUSINESS WIRE) -- Providential Holdings Inc. (OTCBB:PRVH)(Berlin Stock Exchange and Frankfurt Stock Exchange:PR7 - WKN 935160) (www.phiglobal.com) today announced that the Company has participated in the 2006 First Nanjing China International Pharmaceutical Research and Cooperation Conference held by Nanjing National Hi-Tech Industrial Development Zone (www.njhz.gov.cn) on June 19-20, 2006, as part of Providential Holdings' plan to step up its M&A advisory and investment banking activities in China.
The conference is the first of its kind that is organized by Nanjing National Hi-Tech Industrial Development Zone, Jiangsu Province, to develop and promote the Chinese pharmaceutical industry. There are approximately 150 companies attending this event, including about 20 participants that come from pharmaceutical and biotechnology companies in the US as well as other renowned experts, researchers, and professors in these fields. The conference covers important topics such as pharmaceutical R&D, intellectual property, generic drug development and marketing applications, and funding opportunities for Chinese pharmaceutical and biotech companies.
Besides meeting key players in the Chinese pharmaceutical and biotech fields, Providential Holdings has participated in an expert panel during the conference and provided private consultation sessions to a select number of Chinese companies in various industries that seek to access international capital markets for further growth. The expert panel also includes Beijing Nexis Investment Consulting Corp., Stone Financial Group, Inc., Kent Financial Services (NASDAQ:KENT), and Preston Gates & Ellis.
Henry Fahman, Chairman and CEO of Providential Holdings, Inc., commented: "We are pleased to have participated in this international pharmaceutical conference as part of our plan to expand our M&A advisory and investment banking activities in China." Fahman added: "As a direct result of this conference, we expect to immediately assist several new client-partners in their funding needs and look forward to working with many other Chinese companies in the near future."
About Providential Holdings, Inc.
Providential Holdings is a diversified holding company primarily engaged in mergers and acquisitions and independent energy business. The Company acquires and consolidates special opportunities in selective industries to create additional value, acts as an incubator for emerging companies and technologies, and provides financial consultancy and M&A advisory services to U.S. and foreign companies. For more information on Providential Holdings and its subsidiaries, visit http://www.phiglobal.com.
Safe Harbor: This news release contains forward-looking statements that are subject to certain risks and uncertainties that may cause actual results to differ materially from those projected on the basis of such forward-looking statements. Such forward-looking statements are made based upon management's beliefs, as well as assumptions made by, and information currently available to, management pursuant to the "safe-harbor" provisions of the Private Securities Litigation Reform Act of 1995.
SOURCE: Providential Holdings Inc.
Providential Holdings Inc. Henry Fahman, 714-843-5455 www.phiglobal.com
Copyright Business Wire 2006
-------------------- "Great Day for Up!"....Dr. Seuss Posts: 3387 | Registered: Mar 2006
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gl this stock suck imho got chit load of divy's from 2years ago all crap.......... henry is a punk
Posts: 1073 | Registered: Oct 2005
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