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decided to check my baggage today out of the blue, and wow so surprised to see this! the pr was great, awesome seeing the words 'contract was signed' not 'in the process of' or 'preparing to' or any BS like that. lets see this baby get kick started back up!Edit: looked at the charts, good timing of pr release!
-------------------- Penny stocks are often very volatile, and just as often unpredictable. - Peter Leeds
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So is it a finalized deal? The pr states that they signed a contract "to" acquire the assets, maybe they just used the wrong words in the statement, everything else seems to say it's final, except for those words.
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Iwishihad.... I gather the deal is to purchase it over a two year period. (timing may be different). Using income and stock to buy the company. We will own it like owning a house, but making payments on it is how I understand the deal. Hopefully we can find out a bit more about that deal soon. Bottom line is, we will get the income, and more importantly the distribution increase on all our products.
-------------------- I wrestled with reality for years, Doctor, and I'm happy to state, I finally won out over it.
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I do not see anywhere in the PR that says we are financing the company over two years. It does however imply that the dilution has paid for the acquisition of all Garden Assests.
It also further states that RSHN soley paid for the acquisition. And furthermore that Garden and its income is a subsidiary of RSHN INC.
That means there bottom line is directed towards our bottom line.
I would say unless there is a PR with the full details of the deal posted it is better not to speculate and throw out suggestions of how the deal was concluded.
As far as the stock PPS recovering I do see a slow steady gain back to the 20's and who knows... maybe a spike back to the promise land if everyone gets excited about the company again.
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Ok ... so now what? I mean, what are the reasonable expectations of the company in terms of contracts and growth. Do we have a demand for the product? What products are already available from Garden?
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RushNet to purchase Chicago retail distributor 7th August 2006 By James Walker
RushNet, the marketing vehicle for Rush Beverage Company and brand owner of e-water, has signed a letter of intent to purchase Garden Beverage, a privately-held specialty beverage distributor based in Chicago.
Founded in 2003, Garden Beverage has grown significantly since its inception. The distributor, which currently holds over 2,000 retail accounts, projects 2006 sales to exceed $5.4 million.
Garden Beverage's distribution encompasses the Metro-Chicago market and extends into Northwest Indiana - distributing over 12 brands, with Arizona Tea as its flagship.
Under the terms of the agreement, RushNet will enter into a 90 day due diligence period with Garden Beverage, wherein the company's financials are assessed along with operations and sales strategies.
During this period, RushNet will also determine any synergies that can be leveraged as a result of the transaction. The company plans to incorporate Ginseng Rush, Ginseng Rush XXX, Rush Cola and e-water into the Garden Beverage system throughout the due diligence period.
"The strategy allows RushNet to develop new direct store distribution customers and refine the sales and marketing programs so they can be replicated nationally," the company said.
"RushNet also sees great potential for introduction of its single use energy supplement products, through Garden with their convenience store and gas station customer base."
posted
"the company has signed a contract to acquire the assets of Garden Beverage"
There are key words here. Fact of the matter is I just signed a contract today to buy 100 acres of land for a mixed use development. I have to pay $50,000.00 as a deposit and another $50,000.00 in 3 months if I want to continue the option and another $50,000.00 ect for another 18 months ...
This is a step up from a LOI, but it really doesn't mean squat.
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Ackcane, that's how i read it also, which supports chklingon statements. I am not in this stock for very much anymore, but this seems to have been the trend for rshn for awhile now. Seems to be so much dilution in the last 6 months, they do not need anymore. Hope it turns for the best for all that hold shares.
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If a company keeps doing this, trying not to tell the truth, by telling half truths, it's time to call a spade a spade. I wish I was wrong, but ...
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I have been on quite a few of those over the years, maybe that is why i read so carefully the wording, not just the main heading (maybe we just are interpreting it wrong) hope so for investors sake. With some of the companies they do not even give you a half truth. I can think of one that comes to mind, that might have been the worse one i ever had shares in.
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Like I have said before and I will state again. Garden was the first company to confirm to me more than 3 weeks ago that the deal was finalized. That means finished. When I asked for more information and if a PR would be stated they referred me to Bob.
I think all this speculation and looking to pick apart a deal that is done is just negative and anti-productive. I have mentioned before and will again, if you don't like it or do not feel comfortable with your investment, maybe it is time to cash out. That is why we are here in the Pinks..for the high risk adrenaline rush and huge profit potential.
To quote a very famous American(Forrest Gump)"My Mamma said, "If you can't take the heat, stay out the kitchen".
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Apple Rush site now has a statement about "New Can Design". No pictures yet, but obviously they are pushing forward with cans of AR.
Don't read much into this, but I checked the state site on Garden and their status is "Not is good standing". Ususally this is just some missing annual paperwork. (Been there and done that myself)
As for the status of Garden with RSHN we should find over the next few weeks. The bottom line seems to be that we now own it, wheather on paper or outright by cash.
-------------------- I wrestled with reality for years, Doctor, and I'm happy to state, I finally won out over it.
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That's not what the PR says ... it says "they have signed a contract TO ACQUIRE the assests of Garden Beverage" ... not they HAVE AQUIRED the assests of Garden Beverage.
Just another attempt to float BS by the masses, IMO.
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Here's some key lines from the pr that those that want to pick it apart and spread fear seem to have ignored:
RushNet President Robert Corr stated: "I'm glad we got this deal done (not just worked up or put together) as it, importantly, gives (not will/should give) us a division focused entirely on distribution in our home market.
Garden Beverage will become a subsidiary of RushNet, Inc in an acquisition that was(not will be) financed entirely by RushNet (not Uncle Vinny).
Additionally, two new divisions are (not will be sometime in the future if this all works out) being created that will focus on health-orientated Specialty Beverages and On-Premise sales.
Trust Bob or don't trust him, but to post statements calling him a liar or accuse him of telling "half truths" without anything more than your own speculation, is simply "Just another attempt to float BS by the masses, IMO", as mentioned above. No, I don't have blinders on, but if you can't see this as a huge step for this company, maybe you do. This isn't meant to start a p!ssing match and I don't plan to continue it, but I'm tired of reading negative posts based only on speculation, not facts. They're no better than cheerleading on speculation and not facts. Neither one is very helpful.
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and I was very happy to get my deal done yesterday. The option contract allows me to move forward to get my tenants lined up, approval from planning commission ect and hopefully in 2 years I will close the deal.
We can sit and pick through the language all day as there are several words in the above quotes that say other than what you state they say, but whatever. The language is ambiguous at best and IMO is meant to be that way.
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"Garden Beverage will become a subsidiary of RushNet, Inc in an acquisition that was(not will be) financed entirely by RushNet (not Uncle Vinny)."
WILL BECOME; not has become. Trust me, there are still things left to be done before this is DONE.
Now the positive spin on this is perhaps everything has been DONE to satisfy the terms of the "contract" and they have yet to close, but perhaps there is nothing left but to close and neither side can back out now without a suit towards specific performance.
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When you sign a contract... the deal is done. That is bottom line. When you buy a house and sign the day you sign is the day you close.
This is not a house. Why don't you all just wait for the specific of the deal to be in a PR and stop guessing. The morale in here has been hit bad enough and everyone needs a boost. Just because we believe the deal is done...meaning concluded as the PR states, does not mean people in here are in fantasy land.
As a good friend reminded me, saying that the management would be underhanded enough to basically embezzle shows no appreciation or trust in the leader of the company. If we do not stand by Bob and let him do his work(whether we agree or disagree with his tactic)then we should definately not be in the stock.
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So when you sign a purchase and sales CONTRACT for a house you have bought the house? Come on!!
I guess if people who don't know any better keep investing in a product without educating themselves, then they get what they deserve.
Sorry to bring you down.
RUSH is going to make us millions!!!!! Buy Buy Buy!! Hit the reset button, forget everything in the past. Today everything is new and today we have a "CONTRACT" .... YIIIPPIIII!!!!
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quote:Originally posted by ACKCANE: So when you sign a purchase and sales CONTRACT for a house you have bought the house? Come on!!
I guess if people who don't know any better keep investing in a product without educating themselves, then they get what they deserve.
Sorry to bring you down.
RUSH is going to make us millions!!!!! Buy Buy Buy!! Hit the reset button, forget everything in the past. Today everything is new and today we have a "CONTRACT" .... YIIIPPIIII!!!!
For Acquiring a Business you get a certain amount of time to complete Due Process... This allows you to review their books, all acounting, the premises, inventory, physical possesions of the company ie trucks in this case etc. Usually a company will sign the deal within the Due Process time.
This deal went beyond the period. This was due, and I know for a fact as I was told by Bob, that they wanted to finance the deal the best way they knew how and not involve ousiders. As I had reported months back it was over 500,000,000 shares put aside to be sold for this deal. Perhaps, they sold more due to the drop in PPS.
Bottom line is the deal is done. GARDEN Beverages themselves have said the deal is done. Untill a PR comes out that says otherwise or with other details that is how you are to look at it. If you do not see it that way, then you are a sceptic and should not be in this stock to begin with.
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"As I had reported months back it was over 500,000,000 shares put aside to be sold for this deal" Interesting Robbie. I must have missed that. However CLYP did sell roughly 1B shares over a several month period. If what you say it true, then we outright own Garden. Interesing. I guess we will eventually find out.
GO RSHN!
-------------------- I wrestled with reality for years, Doctor, and I'm happy to state, I finally won out over it.
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I guess if people who don't know any better continue to spew negative comments without educating themselves, they also deserve what they get. I've educated myself on this company just fine, thanks. I'm willing to take my chances at what you seem to think we'll get. Are you? Speaking of educations, I took the time to look up the meaning of the word contract for you at dictionary.com.
con·tract (kŏn'trākt') Pronunciation Key n. An agreement between two or more parties, especially one that is written and enforceable by law.
contract noun 1. a binding agreement between two or more persons that is enforceable by law
contract A legally binding agreement between two or more parties.
Does this mean that every part of the transfer is finished and they've changed the company stationary, or that it will all be completed tomorrow? Of course not. These things take time and those that can't accept that will always be unhappy. Just as anybody posting a cheerleading comment should do, maybe before posting negative posts it would be best to contact the company for facts, or find some sort of proof first. I can speculate that we'll be selling in Walmart next month as easily as you can speculate the company will close and take all our money this week. Either way, it's just BS without facts. If you have facts to back up your claim that this is all a lie, by all means share with us all. Otherwise your posts are less than "half truths", and are only read by others as trying to spread fear and distrust. If the past, or leadership of this company is the worst you've run into on the pink sheets, you're my new hero!
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RushNet, Inc. (Pink Sheets:RSHN) is pleased to announce that the company has signed a contract to acquire the assets of Garden Beverage, Inc., a Metro-Chicago beverage distributor.
That is a purchase contract.
Definition : A written agreement between seller and purchaser in which the purchaser agrees to buy certain real estate and the seller agrees to sell upon terms of the agreement.
I sign about 20 of these a month. I close about 1. Does the PR sound like it has been closed. In some parts of the PR, yes. In others, like the first sentence, no. And if they had closed the deal, why wouldn't they say it has CLOSED? Corr's quoted statement in the PR does imply to me that the deal has closed, in fact if it doesn't close then Corr just opened himself up to legal action, IMO. So, I would agree that I think the deal is closed. I just don't get the wording, once again, in the PR.
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