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Topic: UNCN -anyone on this one?

ruthie
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posted

Just wondering if anyone is in on this one. It looks promising to me...Unico

Posts: 741 | From: North Carolina | Registered: Feb 2006 | IP: Logged |

jump'em&pump'em
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posted

It has been on my watch list for sometime.

Posts: 243 | From: Utah | Registered: Mar 2006 | IP: Logged |

ruthie
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posted

Has anyone checked out the article that came out today on moneycentral.msn.com about this company?
Sounds interesting...

Posts: 741 | From: North Carolina | Registered: Feb 2006 | IP: Logged |

kt325ci
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posted

They filed an 8-K today and it wasn't good. This explains where all the shares were coming from.

Item 3.02 Unregistered Sales of Equity Securities.

From September 30, 2004 through March 30, 2005 Unico issued convertible

debentures ("Debentures") aggregating approximately $625,000 to Reef Holding,

Ltd. and approximately $467,500 to Kentan Limited Corp. that were unpaid, and in

default, as of February 9, 2006. The holders of the convertible debentures had

assigned portions of the Debentures to Blue Marble Investments, Outboard

Investments, Umbrella Holdings and Yanzu, Inc. Because Unico, Incorporated

failed to pay the Debentures when due, a total of ten (10) lawsuits were filed

by these Debenture holders against Unico, Incorporated in the Twelfth Circuit

(State) Court in Florida (Case Nos. 2006-CA-003385-NC, 2006-CA-001230-NC, 2006-

CA-001825-NC, 2006-CA-003067-NC, 2006-CA-001229-NC, 2006-CA-002111-NC, 2006-CA-

002597-NC, 2006-CA-003068-NC, 2006-CA-004264-NC and 2006-CA-003851-NC).

The Debentures provided that the principal amount and accrued interest were

convertible, at the option of the holders of the Debentures, into Unico's common

stock at a price per share equal to 50% of the closing bid price of Unico's

common stock as quoted on the OTC Bulletin Board on the immediately preceding

trading day prior to the notice of conversion.

Unico agreed to settle each action by issuing shares of its common stock to the

plaintiffs using a valuation of approximately 14% to 20% of the then existing bid

price of Unico, Incorporated common stock. These shares were issued pursuant to

Section 3(a)(10) of the Securities Act of 1933, as amended, after a hearing with

notice to, and an opportunity to be heard from, interested parties, as to the

fairness of each transaction, by a state court in Florida which specifically

determined, prior to declaring that the transactions were exempt under Section

3(a)(10), that the transactions were fair to the interested parties.

From February 9, 2006 until May 12, 2006, in connection with the exercise of

conversion rights by the holders of the Debentures and pursuant to the

litigation settlements, Unico issued an aggregate of 4,400,668,554 shares of its

common stock.

As a result of the foregoing events, shares of Unico's common stock were issued

to one or more of the Debenture holders on the following dates and in the

following amounts:

1. February 9, 2006 - 173,835,653 shares

2. March 2, 2006 - 325,804,830 shares

3. March 9, 2006 - 371,875,000 shares

4. March 23, 2006 - 526,704,636 shares

5. April 6, 2006 - 566,195,754 shares

6. April 14, 2006 - 599,041,095 shares

7. April 27, 2006 - 1,209,091,038 shares

8. May 11, 2006 - 628,120,548 shares

There were no underwriters involved in any of the stock issuances described

above, and there were no underwriting discounts or commissions paid. The stock

in each transaction was issued pursuant to Section 3(a)(10) of the Securities

Act of 1933 as "securities issued in exchange for one or more bona vide

outstanding securities, claims or property interests . . . where the terms and

conditions of such issuance and exchange are approved, after a hearing upon the

fairness of such terms and conditions . . . ."

As of the date of this report, there are now 4,899,096,450 shares of Unico's

common stock issued and outstanding.

Posts: 2049 | From: Jax,FL,USA | Registered: Nov 2003 | IP: Logged |

ruthie
Member

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posted

Thanks for the info KT325ci

Posts: 741 | From: North Carolina | Registered: Feb 2006 | IP: Logged |

pennys
Member

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posted

nevertheless great opportunity to get in this one now after all that. Bounce up today.? Any ideas?

Posts: 429 | Registered: Jun 2006 | IP: Logged |

jump'em&pump'em
Member

posted

News out

Jun 8, 2006 09:30:02 (ET)

SAN DIEGO, CA, Jun 08, 2006 (MARKET WIRE via COMTEX) -- Unico Incorporated (UNCN, Trade ), a natural resource company in the precious metals mining sector, today announced that the company has initiated independent geological core logging and splitting verification on samples taken from the underground diamond core drilling program conducted at the Deer Trail Mine in 2005.

Photographs of the core logging and splitting, which was undertaken by consulting geologist Alex Scarbrough, who was assigned to the project by mining industry consultancy firm Behre Dolbear to the Deer Trail Mine project, have been added to the Unico website at www.uncn.com . A new picture gallery that shows the core logging and splitting work has been added to the "Media" section at www.uncn.com/news/othermedia.asp .

Included in Mr. Scarborough's initial work at the Deer Trail Mine is the logging and splitting of the core samples, and identification of areas of mineralization from the Phase II underground diamond core drilling program. From preliminary reports, logging is now complete on 4 holes, UDDH #1 (740 ft), UDDH #5 (664 ft), UDDH #11 (454 ft) and UDDH #12 (355 ft). This is a total of 2,213 feet logged independently thus far. Core splitting has also been initiated simultaneously in identified mineralized intervals on hole UDDH #1. Areas being identified of interest to potentially contain base and precious metal content will be sent out for further assay analysis to ALS Chemex for verification.

The primary objective of the Phase II underground diamond core drilling program was to target known mineralized horizons and discover new horizons of mineralization in and around the main ore channel of the Deer Trail Mine. 7,235 feet of drill core was taken from 13 underground holes during the diamond core drilling phase completed by Connors Drilling, LLC. Behre Dolbear was contracted to perform the geological core logging and splitting verification on the samples before they are sent to ALS Chemex for analysis.

"We are pleased to have Behre Dolbear & Company (USA) working now on-site conducting the geological analysis of core taken from the Phase II drilling program at the Deer Trail Mine," stated Mark A. Lopez, chief executive officer of Unico, Inc. "This valuable data will help provide the framework to support future mining efforts and potential mineral targets, and hopefully lead us toward a possible reserve calculation to provide additional value to the Deer Trail Mine."

Shareholders who would like to sign up to receive information by email directly from Unico, Inc., particularly when new press releases, SEC filings or other information is disclosed, are asked to visit the company's website at www.uncn.com/IR/mailinglist.asp .

About Unico, Inc.

Unico, Inc. ( www.uncn.com ) is a publicly traded natural resource company in the precious metals mining sector that is focused on the exploration, development and production of gold, silver, lead, zinc, and copper concentrates at its three mine properties: the Deer Trail Mine, the Bromide Basin Mine and the Silver Bell Mine.

Forward-Looking Statements

This news release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and such Section 21E of the Securities Exchange Act of 1934, as amended. Such statements are subject to risks and uncertainties that could cause actual results to vary materially from those projected in the forward-looking statements. The company may experience significant fluctuations in operating results due to a number of economic, competitive and other factors. These factors could cause operation results to vary significantly from those in prior periods, and those projected in forward-looking statements. Information with respect to these factors, which could materially affect the company and its operations, are included on certain forms the company files with the Securities and Exchange Commission.

Posts: 243 | From: Utah | Registered: Mar 2006 | IP: Logged |