posted
hey greenday, alot of stocks lately have been tankin on news, i am with you, right now i think you gotta get out before the news, hope it change back around soon
-------------------- a little at a time turns a penny to a dime!
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"A lot of what passes for "due diligance" here is a complete and utter joke"
I beg to differ - everything you posted has been discussed. I suggest you go back to page 1 and start there before making ignorant comments like you did.
-------------------- ......in Psychiatry circles it's known as a "warning sign"
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posted
Follow Up - Fronthaul Fades during M N 1 Interview Posted on Wednesday, July 26 * 13:48:54 CDT
By Trevor Burgess
DALLAS (July 26, 2006)-- In a very long afternoon interview with the Market News First radio team, Fronthaul Group CEO Rufus Paul Harris, gave details of a recent merger with Conversion Solutions. As the interview went on and confusion set in among shareholders, the stock began to trade down sharply towards the closing bell.
Harrison began the interview by discussing in detail what the new company’s main services will be. He said Conversion Solutions’ (CVSU) main service will be to acquire, fund and provide insurance to target companies in the currently underserved $15 million to 100 million asset finance market. This will enable businesses to compete more efficiently and improve operations while increasing value.
Under the new merger agreement, the company has decided to set an average closing price at $15 and pay no additional consideration to any of the shareholders. Meaning that after all the paperwork has gone through; Harris expects that to be between July 28 and Aug 1 2006, the share will open at $15 per share.
This merger agreement is a one for one ratio, meaning each shareholder of Conversion Solutions will receive a share of Fronthaul.
“We have set a 15 dollar price which will be equal to our market cap,” Harris explained. “If each share of FHAL has not exceeded $15 by the time of the S4 filing what were going to do is halt trading and re-list under a new symbol, you will exchange Fronthaul into CVSU. We are going to allow 90 to 120 days in the market for the exchange and that new stock price will be $15.”
In other words, if you are willing to do the share exchange and go 90 to 120 days out of the market place you should have a $15 stock. This is where the confusion among shareholders began, and the phone lines at *** lit up.
After the announcement of the possible 90 day delay shareholders called in noticing that the stock had gone from $1.50 to $1 within a 15 minute span, and Harris quickly tried to set the record straight noticing that no shareholder wants to wait for their stock.
“It should be a smooth shift and you should be able to take care of it through the DTC system electronically,” Harris said.
He went on to explain that if the transfer agent gets hit with 300 million in shares there isn’t much they can do, delays will be inevitable.
As the interview wore on, more confusion set in about this merger because most of the company’s assets are in one singular Venezuelan bond equaling nearly one half billion dollars. Most shareholders tend to value things in a company such as diversification and risk management.
“One thing people have to understand is that our entire reputation is on the line here, and we know what we’re doing,” Harris boldly commented. “If we had a long history and we were from one of the big boys that was putting this together, you wouldn’t be asking any type of questions.
“There is too much fraud in today’s society and with the penny stocks and pink sheet stocks it’s impossible to find something real,” he added.
Stockholders, however, were looking for factual information other than the CEO telling them to “just trust us.” Callers were also aware that neither person had shared a NASDAQ company, as they are trying to do now.
One caller mentioned that there were message boards urging people not to trust this company, that it is a scam. Harris acknowledged there wasn’t much they could do about the gossip circulating the web.
“That’s their prerogative, free speech you know,” Harris commented. “I have no concern if CNBC came out and questioned it.”
Perhaps the most bizarre call took place toward the end of the interview as a lady called in to make sure Harris remembered his personal promise to her. Harris quickly remembered the caller and said he stood by his word saying he has personally guaranteed her funds if anything goes wrong.
“I will still honor that any day,” Harris said. “Have your attorney sign something and give it to me.”
The caller went on to wonder if she could sell her stock immediately after it went to $15 per share once the market re-opened. Once again Harris quickly answered to the callers liking.
Johnny Red, *** analyst, quickly fired back at Harris stating that a stock is only worth $15 dollars if someone will buy it for that price, and that it is a free market with no restrictions on it.
Harris then said that if the market drives the stock down the company will buy back shares to raise it again.
“We have set contracts through certain institutions to execute it upon notification,” Harris answered.
Harris concluded by telling investors to not worry about the market right now, reassuring that it will readjust after the merger goes through.
“You have made my day, and my life,” one caller concluded.
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posted
it's my fault sygy, whenever i buy anything, the price falls. I bought in the 1.50 it fell to the 1.30 so I bought in the 1.30's and look where it is now, so I buy at .97.... I was thinking about changing my name from greenday to red-day or grimm-reaper
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quote:Originally posted by GreenDay: it's my fault sygy, whenever i buy anything, the price falls. I bought in the 1.50 it fell to the 1.30 so I bought in the 1.30's and look where it is now, so I buy at .97.... I was thinking about changing my name from greenday to red-day or grimm-reaper
-------------------- Insanity: doing the same thing over and over again and expecting different results
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posted
hey romberry... just about the "no official office"... so your saying any company without it's own building is crap? pretty sure there are many buisnesses in the world that share offices. cvsu is a holding company (from what i understand)... why doesn't that make sense? i just took a position with a company called "Datapath." they have an office in Atlanta... that is where i went for the interview. They labeled it as "headquarters" but they opened another in tampa. they share a building with different companies and they have over 300+ million in contracts this year. they made the largest jump in the top 100 for companies (i believe) and verizon was next behind them... They don't have the believed "assets" that cvsu has but none the less, it still shares a building... www.datapath.com that is their website.
-------------------- NDOL(well before the crash)FPPL BLDV CSHD WWEN?
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posted
This whole drop was orchestrated by ARCA. Anyone else with L2's notice that. Same as yesterday. Have a good night. I don't think I'll be on tonight. Sick of hearing all the B.S
quote:Originally posted by P Rowds: bland... i'd just like to say... you guys at M N 1 are some of the ****tiest interviewers ever... i don't think i speak for myself...
No, youre not only speaking for yourself there
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quote:Originally posted by P Rowds: bland... i'd just like to say... you guys at M N 1 are some of the ****tiest interviewers ever... i don't think i speak for myself...
Cartman voice....
"I hate you guys"
-------------------- Muad'Dib knew that every experience carries its lesson.
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quote:Originally posted by P Rowds: bland... i'd just like to say... you guys at M N 1 are some of the ****tiest interviewers ever... i don't think i speak for myself...
Cartman voice....
"I hate you guys"
more like "I...HATE...YOU...GUYS...SO...*UCKING MUCH...EHHHHHHHHHHHHHHH"
thats what cartman would say anyway...
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posted
well this is pretty confusing...the way it sounded from the interview , is that people should get 15$/share after the merger, if the price drops they've got institutions in place to keep the price up....no ? soooo ...
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quote:Originally posted by stocknut2007: well this is pretty confusing...the way it sounded from the interview , is that people should get 15$/share after the merger, if the price drops they've got institutions in place to keep the price up....no ? soooo ...
Yup, thats what we are all banking on. It doesnt make it any easier to watch it fall!
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posted
well i'm new to this stock, was hearing all the buzz and decided to come take a look. I just re-read the interview again....this is nuts!!! he's practically saying that anybody that buys now, will get 15$....how can someone lose with that ? why isn't everybody jumping in with all they got ?
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posted
Where oh where is my little 10K... where oh where can it be?
He can file a 10K any time till 6PM at night right? I think that is the last opportunity. Oh well, I can only wish it is that close at hand. Hoping for a 10K ASAP.
posted
Possible stock Halt coming soon, By Mr. Ben Stanley said on trader corner,I hope they realase the 10 Q at lease 30 minutes before halt
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quote:Originally posted by stocknut2007: well i'm new to this stock, was hearing all the buzz and decided to come take a look. I just re-read the interview again....this is nuts!!! he's practically saying that anybody that buys now, will get 15$....how can someone lose with that ? why isn't everybody jumping in with all they got ?
Because it sounds just that "nuts".
I know when I hear multiple very experienced traders say? "Really? I have not never heard of that happening before." That it is a very unique and speculative situation.
For the record though, after further review of the situation. I have not heard even one of those traders say that this is not possible, and that they were going to put some bucks into the stock just in case. Most of the confusion seems to be the rules surrounding a reverse merger aquisition and a reorganization.
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