posted
I cant believe it dropped all the way back to the .02's. I have to get better at my timing of selling pennies.
Posts: 712 | Registered: Mar 2006
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posted
This thing has been all over the place for the last couple of days from .02's to .08's. Rumor is they are supposed to be filing an 8-k within a week. Might be a good time to load up.
Posts: 712 | Registered: Mar 2006
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quote:Originally posted by HolyPennyMan: closed at .03 today everyone believes it will close at .10 tomorrow
No way, not without an 8-K.......at best this closes at .05 tomorrow....look for .10+ after 8-K (next week), all IMO. Either way, i am locked and loaded.
Posts: 2554 | Registered: Nov 2005
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SEAWAY VALLEY CAPITAL CORPORATION RELEASES ACQUISITION UPDATE NEW YORK, NY, September 18, 2007 – Seaway Valley Capital Corporation (OTC Bulletin Board: SWVC) chairman and chief executive officer, Thomas W. Scozzafava, issued the following update to its shareholders today: Dear Shareholders: I am pleased to update you on the progress of WiseBuys Stores, Inc. (“WiseBuys”), including its pending acquisition of Patrick Hackett Hardware Company (“Hacketts”). As previously communicated, Seaway Valley Capital Corporation (“Seaway”) is expecting to merge 100% of WiseBuys Stores, Inc. into Seaway shortly. The recent modifications in the merger structure have necessitated an amendment to WiseBuys’ certificate of designation with the State of Delaware as well as a shareholder vote at WiseBuys, which has taken some additional and unexpected time. It should be noted that 81% of the WiseBuys shareholders previously agreed to the transaction when it was structured as a simple acquisition, and that 70% have already expressed their support of the revised merger structure because of its favorable tax treatment. We anticipate finalization these amendments and an affirmative shareholder vote at WiseBuys this month. Immediately thereafter, we will close the merger and trigger the release of the audited financials in the 8K. WiseBuys and its partners generated store-wide sales and trading revenues of approximately $12.5 million in 2006, and WiseBuys alone generated “Comprehensive Income” in 2006 of just under $1,000,000. In 2006, WiseBuys and its partners together generated sales per square foot of approximately $53 per foot on WiseBuys’ 190,000 square feet of sales floor. In addition, WiseBuys is pleased to announce that it has received a commitment for sufficient financing to close WiseBuys’ pending acquisition of Hacketts. This financing will not involve the issuance of new debt or equity, but rather the sale of certain of WiseBuys’ non-strategic assets. Hacketts’ reviewed financial statements disclosed 2006 sales and earnings of $13.1 million and $141,000, respectively. These full year results include only about 45 days of operations in its newest store located in Watertown, NY, which opened in November of 2006. Hacketts’ sales per square foot average over $100 per foot on its 144,000 square feet of sales floor space. After completing the acquisition, WiseBuys intends to convert its stores to the “Hacketts” brand so that all 334,000 square feet of selling space is consistently merchandised and operated. Our intention is to close the Hacketts acquisition on or before November 30, 2007 and to invest aggressively in the growth of the Hacketts brand throughout the region. Finally, many of you have asked whether or not Seaway will exclusively focus on supporting the growth and development of its retail investments during 2007 and 2008 – know that Seaway is currently evaluating additional investments and acquisitions in a diverse array of sectors. Our plan is to complete at least one substantial non-retail investment prior to year end. I am pleased to be able to update you on these events, and I shall continue to update you with further developments. About Seaway Valley Capital Corporation Seaway Valley Capital Corporation was formed in 2002 and makes equity, equity-related, and debt investments in companies that require expansion capital and in companies pursuing acquisition strategies. Seaway also seeks investments in leveraged buyouts and restructurings. Seaway will consider investment opportunities in a number of different industries, including retail, restaurants, media, business services, and manufacturing, and Seaway will also consider select technology investments. Safe Harbor Statement This press release contains statements that may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of the Company, and members of their management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results. For more information, please contact: Seaway Valley Capital Corporation Email: contact*seawaycapital.com Web: www.seawaycapital.com Investor Relations: Andrew Hellman CEOcast, Inc. Phone: 212-732-4300
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
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posted
up 5.94% already after 73% gain yesterday..looking good so far and lots of volume first 10min
Posts: 1065 | From: switzerland | Registered: Mar 2005
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posted
Was there suppose to be some sort of news out AH yesterday or something this morning?
Posts: 3026 | From: Chicago | Registered: Oct 2005
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posted
in at 0.0265, this needs to break the HOD for a run (imo)
Posts: 1091 | From: Brugge, Belgium / Dallas TX USA | Registered: May 2006
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posted
I also bought at 0.0165.... BUT also at 0.035 and 0.044 days before hehehe, so I averaged down (I'm green now though).
Bid support's a little weak (only a few MMs) but the general feeling is good, it's all about psychology
Posts: 1091 | From: Brugge, Belgium / Dallas TX USA | Registered: May 2006
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posted
This stock is setting up nicely. If this stock closes above .046 today without news then it may run to .075 tomorrow. IMO With news who knows how high it may go!!
Posts: 354 | From: Novi, MI | Registered: Apr 2006
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posted
Stock closed above .046. Tomorrow should be green! Awaiting 8k on merger news and this thing should fly. Other boards are talking this one up big. .086 seems to be the next major test for this stock. That is almost a 100% gain.
The financial statements have been prepared using accounting principles generally accepted in the United States of America applicable for a going concern which assumes that the Company will realize its assets and discharge its liabilities in the ordinary course of business. As of March 31, 2007, the Company has no established source of revenues. The Company has also, accumulated losses of $4,504,728 and used $1,090,007 in cash from operations since its commencement. Its ability to continue as a going concern is dependent upon achieving production or sale of goods, the ability of the Company to obtain the necessary financing to meet its obligations and pay its liabilities arising from normal business operations when they come due and upon profitable operations. The outcome of these matters cannot be predicted with any certainty at this time and raise substantial doubt that the Company will be able to continue as a going concern. These financial statements do not include any adjustments to the amounts and classification of assets and liabilities that may be necessary should the Company be unable to continue as a going concern.
The Company intends to overcome the circumstances that impact its ability to remain a going concern through a combination of the commencement of revenues, with interim cash flow deficiencies being addressed through additional equity and debt financing. The Company's ability to obtain additional funding will determine its ability to continue as a going concern. There can be no assurances that these plans for additional financing will be successful. Failure to secure additional financing in a timely manner and on favorable terms if and when needed in the future could have a material adverse effect on the Company's financial performance, results of operations and stock price and require the Company to implement cost reduction initiatives and curtail operations. Furthermore, additional equity financing may be dilutive to the holders of the Company's common stock, and debt financing, if available, may involve restrictive covenants, and may require the Company to relinquish valuable rights. *************************************************
How is thing thing gaining so much ground when the company apparently has no legs to stand on? Is it sheer rumor driving it or is there something else viable waiting in the wings that's not out yet? According to this report they are over 5 million dollars in debt at this point and in the words of this report "As of March 31, 2007, the Company has no established source of revenues"...
-------------------- "100 years from now it won't make any difference!" Posts: 287 | Registered: Sep 2007
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posted
I wish these day traders would hurry up and sell out their profit so the stock could really make some gains. They're keeping the price down around .05 cause they're trigger happy. If they would leave it alone, it would have already been over .06 ...
-------------------- "100 years from now it won't make any difference!" Posts: 287 | Registered: Sep 2007
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