I was once told that Form 4 is another form of dilution? However, I don't see that to be the case when it's existing common shares that are purchased. I mean, they can't issue themselves 450,000 shares unless they've already been declared part of the AS, right?
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I was once told that Form 4 is another form of dilution? However, I don't see that to be the case when it's existing common shares that are purchased. I mean, they can't issue themselves 450,000 shares unless they've already been declared part of the AS, right?
Here's a good link to keep.. it will tell you what every form, that's filed, is all about. The one about form 3's and 4's are on page 25. The only thing is.. it doesn't change the Authorized or the O/S, just the float. So if there are 500 mill authorized, and 200mill in the outstanding. You can go through all the form 3's and 4's to see what was bought or sold, to figure out the float.
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Nice volume coming in. I think we'll get news soon....
-------------------- "Sometimes I lie awake at night, and ask, 'Where have I gone wrong?' Then a voice says to me, 'This is going to take more than one night.'" - Charlie Brown (Charles Shultz)
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The Registrant is unable to file the subject report in a timely manner because the Registrant was not able to complete timely its financial statements without unreasonable effort or expense.
Seamless Receives 100 Unit S-XGen(TM) Order From Warm Home Improvements Thursday November 16, 8:45 am ET
Seamless to Provide Mobile Real-Time Transaction Processing for Onsite Deposits
LAS VEGAS, NV--(MARKET WIRE)--Nov 16, 2006 -- Seamless Wi-Fi, Inc. (OTC BB:SLWF.OB - News) today announced that it received an order for one hundred S-XGen Ultra Mobile Personal Computers from Warm Home Improvements of Auburn, New Hampshire for use in field sales operations. The S-XGen will allow Warm Home field sales personnel to contract with clients at the job site and take real-time deposits on contracted jobs at the time of contract signing through a Seamless-integrated bundled mobile transaction processing service.
"The S-XGen is going to be a great closing tool for our company," said Kevin Townsend, President of Warm Home Improvements. "To be able to process credit card payments at the customer residence will make a significant difference in establishing that first financial commitment to the project that is so important for a successful and effective close."
The real-time transaction capability is based around Seamless Internet's S-XGen(TM) Ultra Mobile PC (UMPC), Seamless Skyy-Fi's back-office billing and processing capabilities and Seamless Peer 2 Peer's Phenom Internet encryption software.
This powerful mobile sales offering allows for real-time mobile transaction processing for salespeople at a customer location, utility workers collecting subscriber payments, contractors taking deposits for work onsite -- through the mobile connectivity (Cell, Wi-Fi and Bluetooth) of the S-XGen, Skyy-Fi's billing foundation and Phenom's secure internet encryption.
"Warm Home's application expands the functionality and opens new market opportunities for the S-XGen and other Seamless company offerings," said John Domerego, president of Seamless Internet, Inc. "By combining capabilities across our subsidiaries, we have created a dynamic mobile sales tool that will process a sale, payment or deposit in real-time while the user is onsite. We look forward to working with Warm Home to make the S-XGen a powerful tool for expanding their business and helping them sell units into other complementary applications."
The S-XGen is the newest contender in the rapidly expanding Ultra Mobile Personal Computer (UMPC) class of minicomputers and takes connectivity to the next level with integrated Cellular, Wi-Fi and Bluetooth connectivity. To date, Seamless has booked 2,200 business orders for the S-XGen.
Interested parties can view the S-XGen device and its specifications at www.slwf.net, and register to receive Seamless News.
About Seamless Wi-Fi
Seamless Wi-Fi, Inc. (www.slwf.net) is based in Las Vegas, Nevada, with three operating subsidiaries: Seamless Skyy-Fi, Inc. (www.skyyfi.com), Seamless Peer 2 Peer, Inc. (www.seamlessp2p.net) and Seamless Internet (www.seamlessinternet.com).
Seamless Skyy-Fi is forging a network of Wi-Fi Hot Spots in targeted geographic and vertical markets across the country and has achieved initial success providing hotel and retail Wi-Fi hotspots. Seamless Skyy-Fi is also the developer of the software program that provides the Wi-Fi user a Secure Internet Browsing (SIB) that encrypts the user's Wi-Fi signal.
Seamless Peer 2 Peer develops Phenom(TM) Virtual Internet Extranet encryption software, which provides SOX- and HIPAA-compliant secure peer mail, chat, file transfer, remote PC access, secure VoIP, video conferencing and white boarding in a two Mb client download.
Seamless Internet offers high security hosting services for Seamless Peer 2 Peer and Skyy-Fi clients and is not available for general public hosting services. Seamless Internet is also manufacturing and marketing the S-XGen, combination phone & mini-computer.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This release includes forward-looking statements intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by phrases such as SLWF or its management "believes," "expects," "anticipates," "foresees," "forecasts," "estimates" or other words or phrases of similar import. Similarly, such statements in this release that describe the company's business strategy, outlook, objectives, plans, intentions, or goals also are forward-looking statements. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements. These risks and uncertainties include, among other things, product price volatility, product demand, market competition, and risk inherent in the operations of a company. We assume no obligation to update any written or oral forward-looking statement made by us or on our behalf as a result of new information, future events or other factors.
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Maybe you're right! We get news and it's a little order for 100. Everything adds to the bottom line, but I wish it were another 1,000 (or 10,000) with cross selling of services!
-------------------- "Sometimes I lie awake at night, and ask, 'Where have I gone wrong?' Then a voice says to me, 'This is going to take more than one night.'" - Charlie Brown (Charles Shultz)
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As of September 30, 2006, the Issuer had 1,309,297,154 shares of common stock issued and outstanding.....
LIQUIDITY AND CAPITAL RESOURCES
Net cash used in operating activities at the end of the third quarter of fiscal year ended June 30, 2006, decreased by ($2,149,974) due to the use of stock for services which is an increase compared to the results for the same period ended 2005 of ($476,566). The Company has a source for capital so the Company can expand its Internet operations of establishing wireless Internet locations commonly referred to as Wi-Fi hotspots and to allow the continued development of its Phenom Software program, the Wi-Fi inception software, the social networking software and the production of S-XGen UMPC.....
AUTHORIZED SHARES
During November 2004 the board of directors amended the articles of incorporation to increase the authorized to 20,000,000,000 shares (par value of $.001) of which 19,990,000,000 are common shares and 10,000,000 are preferred. There are three classes of preferred stock which are as follows; Class A Preferred of 5,000,000 shares of which one (1) share of preferred converts to 10,000 shares of common stock, Class B Preferred of 3,000,000 shares of which (1) share of preferred converts to 1,000 shares of common stock, and Class C Preferred of 2,000,000 shares. As of this date the Company has not updated its articles of incorporation with the state of Nevada, which shows only 11,000,000,000 shares authorized.
The company plans to amend the previous resolution decreasing the authorized to 11,000,000 shares so no amendment to the Articles of Incorporation will have to be filed with the state of Nevada.
STOCK ISSUANCE
DURING THE FIRST QUARTER ENDED SEPTEMBER 30, 2006 FOR THE FISCAL YEAR END JUNE 30, 2007:
Ayuda Funding, LLC converted 76,027 shares of Series A Preferred Stock into 760,270,000 shares of common stock to repay Ayuda in the amount of $2,392,991....
190,000,000 shares of common stock were issued to Ayuda Funding, LLC valued at $190,000....
Ayuda Funding LLC converted 24,703 shares of Series A preferred stock into 247,030,520 shares of common stock, of which $773,145 was used to pay judgments, and payback Ayuda Funding LLC in the amount of $617,575....
1,109,435 shares were issued for officer's compensation valued at $347,484....
Well, if that isn't just a wee bit of dilution, I dont know what is! Nice that company officers paid themselves handsomely in the whole transaction, too.
I agree: time to move on.
-------------------- "Sometimes I lie awake at night, and ask, 'Where have I gone wrong?' Then a voice says to me, 'This is going to take more than one night.'" - Charlie Brown (Charles Shultz)
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