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Looks like something is finally showing up in my E-Trade account. In the Porfolio view, I lost the FHAL symbol and gain some number instead. But, at least now my money and shares are showing up again. I had purchased some CSDH shares, but that's still showing up on a separate line. I assume at some point, it will move over. At least they're moving forward. Progress is good!
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Scottrade still shows FHAL# on the home page but in Gainskeeper it shows Conversion Solutions Holdings (CSHD... It seems Scottrade is always the last to receive changes...
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almost done with my move to Minneapolis - just stopping to check this after two days . . . so what's up with the financials that were posted this morning at 9:04 AM? why are they only through March and why do they look like what we saw from FHAL?
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If these are the audited financials for FHAL and if I'm reading this right they look pretty bankrupt. Isn't this exactly what Rufus needed to show to enact that IRS code 368? If I am off on this please correct me.
I can also confirm the first part of BBs post with TDa. I talked to them thursday and got the same response. BUt I didnt get the date of aug 14th. COol beans BB
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quote:Originally posted by MTPromises: almost done with my move to Minneapolis - just stopping to check this after two days . . . so what's up with the financials that were posted this morning at 9:04 AM? why are they only through March and why do they look like what we saw from FHAL?
Where are these financials posted?
-------------------- #1 Rule: Protect your capital! #2 Rule: Never fall for the BS on the boards!
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quote:Originally posted by MTPromises: almost done with my move to Minneapolis - just stopping to check this after two days . . . so what's up with the financials that were posted this morning at 9:04 AM? why are they only through March and why do they look like what we saw from FHAL?
quote:Originally posted by RyanPBF: If these are the audited financials for FHAL and if I'm reading this right they look pretty bankrupt. Isn't this exactly what Rufus needed to show to enact that IRS code 368? If I am off on this please correct me.
When I checked the CVSU.US website Thurdsay last, the financials page did not say audited anywhere on it when displayed....also I believe that the display of the B/S and Income Statement referred to FHAL....Now it says Conversion Solutions Inc..... My observation is that CSHD is continuing to update their website however they can not be finished as the home page still refers to the old ticker symbol of CSHC, which we know is no longer valid..... Also, I did not find any Balance Sheet data on the yahoo finance page, so if you look at just the income expense statement, things look pretty dismmal as the quarter endding numbers for March show a loss. But the B/S shows a sizable position of $843 million in assests with a debt position of $40 million, so you might conclude the combined company of CSHD is not heavily leveraged. My question (to anyone) is if these "audited" f/s's are of the merged entities of FHAL and COnversion Solutions? (I have only been tracking this play for a month.) ......And with the changes being made to the website with audited f/s, this suggests the information that would be seen in the 10Q is there, and as such, I'd expect that the 10Q is not too far away. Has anyone found anything concrete on when the 10Q is supposed to be released, or if already released where it can be reviewed.
GLTA
-------------------- "No nation was ever ruined by trade." Benjamin Franklin
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I think the confusion here is that the 10Q for March have been out for a while. What we are truly awaiting is the 10K. The 10K will represent the combined figures for both companies. If I remember correctly the Fiscal year ended June 30th therefore the reason a 10K and not 10Q is due. Hope this helps.
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This brings me back to something I posted early last week and Rufus touched on in PalTalk the other night. Since the DTC has not received nor released any shares of CSHD what was trading this past week? Shares that at this point in time do not exist. Everyone who sold shares into the market by calling in their order could be in danger here. I know when I called Scottrade they told me I could sell but would be creating a short position. It was enough for me to not place any type of order at any price. My thought of course was to place the order in the $10 to $15 range just to be safe and secure profits. Upon reflection the thought occurred to me that if I did that I could still possibly have to cover at a higher level. Using my best judgement told me it wasn't worth taking the chance.
Can anyone tell me how all the shares that were bought and sold can be covered IF CSHD and the DTC decide that those shares need to be cleared up before the trading of CSHD shares can begin trading? What affect COULD that have on the reset.
The more I have thought about the whole scenario playing out here the more I am seeing that this whole thing is and has been a setup to expose and trap the naked shorting of stocks on the OTCBB. The short position on FHAL was reportedly 15M shares, most agree that it is much higher than reported. Add to that the action of the past week and my estimate is there are at minimum another 5M shares short. So the true short position COULD conceivably be 20 to 60M shares. If they were forced to cover at $15 from the $1 range we are talking about anywhere from 20M X $14= $280M to 60M X $14= $840M. CSHD will have approximately 80M shares in the treasury that can be issued. If they issue those shares they would gain the $840M dollars at which point they could return both the Bond and UCC note and have $840M minus whatever interest they pay. Pure speculation but something to think about.
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talking about a short position, at bloomberg . com, conversion solutions has a float of 37 million, I thought the float was already gone, but, cshd did put more shares on the market,, right?? meaning the short position would be covered by the company, so we do not benefit from the short position. any thoughts ???
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The shorts will still have to cover. CSHD didn't put any more shares on the market - the trading right now (or since the symbol change) is on invisible shares...meaning that if you sold CSHD you have created a short position that may have to be covered at $15 ! YIKES.
Anyway the CVSU shares will be put in, agreed, however those are restricted from what I understand so the trading CSHD float will be the old FHAL float which I thought was around 24 million, with 16 million short ? I may be off here but that's what I get from my DD.
Who the hell realy knows, we're all get back on the rollercoaster Monday morning, fun times at the amusement park that is the OTCBB, lol.
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quote:Originally posted by 4Given: talking about a short position, at bloomberg . com, conversion solutions has a float of 37 million, I thought the float was already gone, but, cshd did put more shares on the market,, right?? meaning the short position would be covered by the company, so we do not benefit from the short position. any thoughts ???
No they have not. I have no idea how old Bloomberg's info is but the last guesstimate I know of was that the tradable float was around 23M.
quote:Originally posted by Uncle Smelly: The shorts will still have to cover. CSHD didn't put any more shares on the market - the trading right now (or since the symbol change) is on invisible shares...meaning that if you sold CSHD you have created a short position that may have to be covered at $15 ! YIKES.
Anyway the CVSU shares will be put in, agreed, however those are restricted from what I understand so the trading CSHD float will be the old FHAL float which I thought was around 24 million, with 16 million short ? I may be off here but that's what I get from my DD.
Who the hell realy knows, we're all get back on the rollercoaster Monday morning, fun times at the amusement park that is the OTCBB, lol.
I posted pretty close to your post. But when I last talked to the Transfer Agent the Float was between 23 and 24 Million shares. IMO, those holding the old FHAL shares aren't really on a roller coaster since all the trading activity last week and this comming week until the DTC releases shares of CSHD are phantom shares.
All I can say is this is going to get more interesting by the minute. How will it end up. I HAVE NO IDEA! But I will be watching. I still hold a position here and find this whole thing to be intriguing to say the least.
quote:Originally posted by 4Given: talking about a short position, at bloomberg . com, conversion solutions has a float of 37 million, I thought the float was already gone, but, cshd did put more shares on the market,, right?? meaning the short position would be covered by the company, so we do not benefit from the short position. any thoughts ???
No they have not. I have no idea how old Bloomberg's info is but the last guesstimate I know of was that the tradable float was around 23M.
GLTA Wally
Just trying to understand this. The cshd would have to be updated, because they just came online this week with the new ticker change.
We are all going to make out really well after all this anyway, just learning as I go, being a newbie and all.
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i own shares of both fhal and cshd !! your saying flipping cshd not a good idea? already been there done that!!!wouldn't TD be responsible? they sold them in the first place!!
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Good post wallymac, I think your right on. I think the first time I heard Rufus speak on *** he said all investors should call for there certs and this really got everyone confused. Now as time goes on the Rufus & Ben plan comes in to focus, or in this case the MASTER PLAN and now we can start to see why he said that. I would think a few people are going to lose big time and I won't feel sorry for them at all. This should be one very interesting and exciting times for all longs and I'm sure glad to be one.
-------------------- watch out for shorty
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Sygy...I haven't flipped them yet...but I own both the old shares and some of the new...the way that I understand it is that as long as we don't sell..."we" haven't shorted...I'm interested in finding out what will happen with the ones "i hold"...but since you sold.."flipped" I don't know...
Wow..the plot thickens...
-------------------- #1 Rule: Protect your capital! #2 Rule: Never fall for the BS on the boards!
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