Tuesday, July 31, 2012
LKEN Announces Reverse Split - Shame On You
In this after hours gem from LKEN (pasted below) the company attempts to put pea size band aid on the
chain saw wound they have inflicted upon their shareholders.
I found this passage of the press release to be most revealing. My comments are in bolded black with parantheses:
Reverse splits have a negative stigma (really? you've just taken away 100 shares from each of your stock holders and given them 1 in return , how would you feel?) This failsafe measure (failsafe? You've just screwed every single one of your investors out of their holdings and you think its a perfect measure... until you perform the next failsafe reverse split) allows all
investors involved to have the safety of enhanced liquidity and market
stability. (liquidity? Reverse splits DECREASE liquidity! DILUTION INCREASES LIQUIDTY , which means you will be diluting the stock) So long as a company does not have dilutive intentions
post-split (dilutive intentions? Don't try and sound smart, you got LKEN bidless before and you will do it again with 100% of your intentions.), the company will be more stable than ever before and will
have the ability to aggressively pursue operations and bring the
business plan forward.
Later on we get this fabulous quote:
"This is of course a requirement
to engage the interest of Investment Banks andInstitutional Investors ."
What investment bank and/or institutional investor is going to put one single penny into this stock with now ONLY 3 billion authorized.
Let me be clear, this is a stock I alerted for a bounce off this news and it did bounce over 100%. The reverse split should have been done BEFORE this supposed "Special Conference Call to Announce Blockbuster News to the Masses" was to take place. The company has enticed people to buy the stock based on this news and then turned around and gave them the finger while laughing all the way to the bank. Shame on you LKEN.
NEW YORK, Jul 26, 2012 (BUSINESS WIRE) -- Greene Concepts, Inc. (LKEN) CEO, Lenny Greene, announces today that the company will hold a live conference call this Saturday, July 28th, 2012 for stakeholders and general public to announce an unprecedented event that will revolutionize the ink market and send shockwaves throughout the industry.
This will be Greene Concepts' second conference call in seven days and will be hosted by the Duane Noble, the President of InkWay USA, Inc., a wholly owned subsidiary of Greene Concepts, Inc. "The first call yielded overwhelming success with all 100 conference lines at capacity and immediate positive reactions," said Lenny Greene, CEO. Greene Concepts has opted to upgrade their conference line to hold up to 1,000 people, as well as control background noise and offer recording capabilities for later publishing. This call will show everyone how the company has already taken significant steps to position itself as one of the fastest rising, most successful company ever in the ink and toner industry.
The call takes place this Saturday, July 28th, 2012 at 12:00 PM Eastern Daylight Time
Conference Call Phone: 805-399-1200 (USA) Pin - 622057#
Based on the success and response of the first call, additional marketing tools for stakeholders are available on the InkWay USA webpage at:www.inkwayusa.com. These tools include a 1-page InkWay USA founder template, a description about the fantastic quality of the InkWay USA ink formulations and a link on how to refill toner and inkjet cartridges.
Greene Concepts, Inc.Announces 1 for 100 Stock Consolidation Toward Beneficial Restructure
Business Wire "Press Releases - English"
its Board of Directors approved a 1-for-100 reverse stock split (the
"Split") of its Common Stock while simultaneously effected a significant
decrease in the companys Authorized share count to 3 billion . The
Split will begin trading on a Split-adjusted basis per FINRA
Confirmation on
the Split will remain and the Stock will continue to be traded on the
Pink Sheets under the symbol "LKEN", the letter "D" will be added by to
the symbol for a limited time after the Split.
The purpose of the Split is to raise the per share trading price of the
Stock to appeal to a higher tier investor pool as the company has
engaged consultants to move the company to a fully
tier and facilitate a move to the OTCQB. This is of course a requirement
to engage the interest of Investment Banks and
Company CEO,
need to remain trading, when a company's capital structure bounds to a
level where the market cannot trade at a price low enough to speak to
the market cap, a reverse stock-split corrects the market. Generally
speaking only 22 percent of those stocks have slipped back to prices
below the pre-split price and with LKEN growing exponentially every day,
we believe this will not be the case. This doesn't change a company's
finances or the true market value but, does allow us to have the support
of those sidelined by an over-diluted market.
Reverse splits have a negative stigma.This failsafe measure allows all
investors involved to have the safety of enhanced liquidity and market
stability. So long as a company does not have dilutive intentions
post-split, the company will be more stable than ever before and will
have the ability to aggressively pursue operations and bring the
business plan forward. Lenny is passionate about making sure all current
and future shareholders will be happy with the long-term success of
this a win, win situation for all shareholders, customers, and the
company.
Greene was quoted as saying while a tough decision had to be made our
Board did not enter this motion without extreme thought and
understanding that this motion was necessary to take
where we all want it to be. He continues we have a concise strategy on
moving the company forward and driving shareholders value and are
sincerely thankful for the continued support from long-term shareholders
and for the guidance from our consultants as we launch necessary
initiatives which have been a long-time coming.
acting as the exchange agent for the Split. Shareholders who hold their
shares in brokerage accounts or "street name" are not required to take
any action to effect the exchange of their shares. Shareholders who have
existing stock certificates will receive instructions from the exchange
agent after the Split becomes effective.
Distribution Company
businesses and consumers.
the introduction of a number of innovative products and marketing
strategies and to bring the world the best products at the lowest prices
so consumers and business can save time, save money, print more and
print better.
USA
Refilling Systems. All refilling tools, accessories, filling stations,
interactive CD-Rom instruction manual including bonus software, 24/7
customer service / tech support and unlimited ink refills are available.
Consumers can now save thousands of dollars annually without replacing
their inkjet cartridges using ABIs top of the line refill kits.
technology
and exceptional proprietary ink and toner Do It Yourself Refilling
Systems and other products for all inkjet and toner cartridges. The
most expensive liquid in the world is ink. And you are in the perfect
place to take advantage of this by purchasing one (or more) of our 400
available Founding Units. Our model is consumer direct affiliate
marketing and our design ensures long term growth and stability. We are
set to explode in 2012... Marketing, sales, and fulfillment for retail
products are coordinated at its offices in
businesses save thousands of dollars annually buying our products.
signing distributors in
Safe Harbor: This Press Release contains forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. These
forward-looking statements are based on the current plans and
expectations of management and are subject to a number of uncertainties
and risks that could significantly affect the company's current plans
and expectations, as well as future results of operations and financial
condition. A more extensive listing of risks and factors that may affect
the company's business prospects and cause actual results to differ
materially from those described in the forward-looking statements can be
found in the reports and other documents filed by the company with the
and News Service. The company undertakes no obligation to publicly
update or revise any forward-looking statements, whether as a result of
new information, future events or otherwise.
LKEN@NuemarkGroup.com
www.nuemarkgroup.com
Source:
ICPA Continues Its Move Off Lows
ICPA continues its rally off recent lows, marking a 3rd consecutive trading day with sizable gains for ICPA shareholders. The stock is bumping up against technical resistance on the chart, it will be interesting to see if the momentum can continue through the $.026 50 DMA.
Excerpt of recent ICPA news:
LOS ANGELES, July 26, 2012 /PRNewswire via COMTEX/ -- IC Places, Inc. (OTCQB: ICPA) -- The growth and development of the United States has always been catalyzed by forward-thinking visionaries who see a future not perceived by others, and who embrace as possibilities which are deemed impossible by their peers. Both Steve Samblis and Joseph Collins reflect these attributes. Steve Samblis, CEO of IC Places, Inc. is pleased to announce that industry veteran and former CEO of Punch TV Network, Joseph Collins Jr., has joined IC Places, a transmedia entertainment company, as President, effective July 10, 2012. This follows the purchase of Punch TV Network by IC Places earlier this month. Mr. Collins will be replacing Mr. Steve Samblis as President while Mr. Samblis will be CEO and Chairman of the Board of IC Places.
"IC Places welcomes the addition of Mr. Collins' wisdom, tenure and leadership in the entertainment industry to the IC Places community," said Mr. Steve Samblis, CEO and Chairman of the Board of IC Places. "Mr. Collins is an innovator and trailblazer in the industry and he will be an integral part of the IC Places/Punch team as we continue to further capitalize on our company's entertainment offerings."
In his new role as President of IC Places, Inc., Mr. Collins will be responsible for the production of original programming, acquisition of existing programming, and the scheduling and management of the day-to-day operations of Punch TV network and its many offerings.
"Over the past few years, as President and CEO of Punch TV Network, I've steered the company into some exciting initiatives and I'm impressed with how quickly they have evolved into a fully realized media and entertainment network," said Collins. "As President of IC Places/Punch, I will continue to grow our brand in unprecedented reach, scale and promotional power in the industry."
A native Angeleno, Joseph Collins grew up with a fascination of television. After high school, Joseph Collins landed an internship with WVTV in Milwaukee, Wisconsin. His flare and contagious personality helped him grow from an intern to working as the youngest news anchor to report the business news. During his 30 years in television production and programming, Joseph has accumulated a long list of accomplishments. Along with the production of over 1000 TV commercials to his credit, Mr. Collins has received recognitions for his vision. Specifically, Mr. Collins was presented with the 1996 Entrepreneur of the Year Award by Senator Diane Feinstein, Senator Fred Aguilar, and Senator Barbara Boxer. Additionally, he has received accolades from City Council members. His rich entrepreneurial spirit and accomplishments led to the creation of Punch TV. Punch TV Network is a 24/7 network with 70% original programming. In addition to linking consumers with never-before-seen advertising, Joseph Collins has implemented commercial-free advertising - an opportunity for companies to bypass the oversaturation associated with television advertising by incorporating information about a company's product into the storyline of Punch's scripted shows. Another innovation brought to the world of television by Joseph Collins is the production of novel versions of its TV shows. These novels provide an opportunity for companies to insert print ads into these pages. This represents an update on magazine and newspaper advertising. Joseph Collins also created an in-house ad agency so that advertisers can avoid the losses that accompany repetitive ads. Punch TV also has a music division that produces original music of all genres. It is less than surprising that Joseph Collins has utilized the theme, Are you thirsty yet? for Punch TV Network.
ICNB from $.0012 to $.09 In 7 Trading Days
ICNB has had quite the rally from $.0012 to $.09. A purchase for $120 would be valued at $9,000 at today's high of $.09.
A very impressive rally. Here is some of the news that helped propel the stock higher.
NEW YORK, Jul 25, 2012 (BUSINESS WIRE) -- Iconic Brands, Inc. (Iconic) (OTCBB:
In the interim we have aggressively started the process to update our financials and engage in new business opportunities to create value for our shareholders. We anticipate having all of the financials updated by no later than the third quarter ending September 30th, 2012. We have put up a simple website to provide information while going through this process. www.icnb.info
It should be noted that on July 24th we received a notice from OTCMarkets that our company stock has been labeled with "Caveat Emptor" for unusual trading in terms of price and/or volume of the security without current information available for investors, we have spoken with OTCMarkets and they're aware that the company is updating the information and will remove this moniker immediately post of our filings.
About Iconic Brands, Inc.
Headquartered in New York, NY Iconic Brands historically developed, marketed and distributed high-quality branded alcoholic beverages, the company is currently evaluating several business opportunities for new product launch this year and possible business combinations.
Forward-Looking Statements
Under The Private Securities Litigation Reform Act of 1995: The statements in the press release that relate to the Iconic's expectations with regard to the future impact on the their results from new products in development are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are subject to risks and uncertainties. Words such as "expects," "intends," "plans," "may," "could," "should," "anticipates," "likely," "believes" and words of similar import also identify forward-looking statements. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined and assumptions of management. Readers are urged not to place undue reliance on the forward-looking statements, which speak only as of the date of this release. We assume no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release. Additional information on risks and other factors that may affect the business and financial results of Iconic Brands, Inc. can be found in the filings of Iconic Brands, Inc. with the U.S. Securities and Exchange Commission
SOURCE: Iconic Brands, Inc.
Friday, July 27, 2012
PIHN - Company Announced 2,000 for 1 Stock Split
Polaris International Holdings, Inc.
Releases Financial Statements and Announces Stock Split
PR Newswire "Press Releases US - English"
LOS ANGELES, July 27, 2012 /PRNewswire/ --Polaris
International Holdings, Inc. (OTC: PIHN), a global IT
outsourcing services company announced today that the Company has
released its 2011 Annual Financial Statement and its 2012 First and
Second Quarter financial statements with the Attorney Letter which can
now be viewed at OTCMarkets.com.
This brings the company's status with OTCMarkets.com
to "Current Information." Additionally, the Board of Directors and
majority shareholders have approved a 1-for-2000 reverse split of its
common stock. The reverse split has been cleared by FINRA and will be
reflected in the market effective Monday,
July 30, 2012. On that day and the Company's stock
symbol will be appended with a "D" which will remain for the next 20
days to signify the stock is trading post-split.
"The updated financial statements and the actions by the Board and majority shareholders are a clear indication of our ongoing commitment to reorganizing the stock and the company in order to take full advantage of both the long and short term opportunities that lay ahead. The reverse stock split is the just first of several positive steps we're taking in order to restore market liquidity in the stock," said Kuni Misawa, President and CEO ofPolaris
International Holdings, Inc. "We'd like to remind all
shareholders that a reverse split doesn't change anyone's relative
ownership in the Company. It simply adjusts the stock price in the
market to better position it in an optimal trading range."
Safe Harbor: Statements regarding financial matters in this communication, other than historical facts are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such statements about the Company's future expectations, including future revenues and earnings, technology efficacy, mergers and acquisitions, and all other forward-looking statements be subject to the Safe Harbors created thereby. Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially form the expected results.
Kuni Misawa
President/CEO
Polaris
International Holdings, Inc.
Investor Relations inquiries: Please contact
Maxwell Media Marketing
info@maxwellmediamarketing.com
http://maxwellmediamarketing.com
SOURCEPolaris
International Holdings, Inc.
PR Newswire "Press Releases US - English"
LOS ANGELES, July 27, 2012 /PRNewswire/ --
"The updated financial statements and the actions by the Board and majority shareholders are a clear indication of our ongoing commitment to reorganizing the stock and the company in order to take full advantage of both the long and short term opportunities that lay ahead. The reverse stock split is the just first of several positive steps we're taking in order to restore market liquidity in the stock," said Kuni Misawa, President and CEO of
Safe Harbor: Statements regarding financial matters in this communication, other than historical facts are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such statements about the Company's future expectations, including future revenues and earnings, technology efficacy, mergers and acquisitions, and all other forward-looking statements be subject to the Safe Harbors created thereby. Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially form the expected results.
Kuni Misawa
President/CEO
Investor Relations inquiries: Please contact
Maxwell Media Marketing
info@maxwellmediamarketing.com
http://maxwellmediamarketing.com
SOURCE
Thursday, July 26, 2012
LKEN The Start of Something? First Press Release in Long Time
Today LKEN issued their first press release in a very long time. The stock saw volume and could be worth a look for a move higher. As I noted to subscribers earlier today LKEN was not the best stock before it fell to $.0001, but it did provide gains for those who played the bounces and swings. That is were I think profit lies right now with LKEN, a nice bounce on the issuance of fresh news after a long quiet period.
We've seen many stocks this year come back to life and post big gains, look no further than LGBS to see an example of a stock that came back to life and produced gains.
Today's news:
Greene Concepts, Inc. Subsidiary InkWay USA Holds Special Conference Call to Announce Blockbuster News to the Masses
Business Wire "Press Releases - English"
company will hold a live conference call this
for stakeholders and general public to announce an unprecedented event
that will revolutionize the ink market and send shockwaves throughout
the industry.
This will be Greene Concepts second conference call in seven days and
will be hosted by the Duane Noble, the President of
wholly owned subsidiary of
overwhelming success with all 100 conference lines at capacity and
immediate positive reactions, said
has opted to upgrade their conference line to hold up to 1,000 people,
as well as control background noise and offer recording capabilities for
later publishing. This call will show everyone how the company has
already taken significant steps to position itself as one of the fastest
rising, most successful company ever in the ink and toner industry.
The call takes place this
Daylight Time
Conference Call Phone: 805-399-1200(
Based on the success and response of the first call, additional
marketing tools for stakeholders are available on the
at: www.inkwayusa.com.
These tools include a 1-page
about the fantastic quality of the
link on how to refill toner and inkjet cartridges.
"We're very excited about the upcoming conference call which also allows
for a question and answer session regarding
opportunities. We will be discussing some very important and exciting
topics that will greatly benefit our stakeholders with regard to a
substantial income growth opportunity while saving money on ink for your
home or business, says
marketing field with zero competition encompassing a
dollar
outstanding event.
USA
Refilling Systems. All refilling tools, accessories, filling stations,
interactive CD-Rom instruction manual including bonus software, 24/7
customer service / tech support and unlimited ink refills are available.
Consumers can now save thousands of dollars annually without replacing
their inkjet cartridges using ABIs top of the line refill kits.
Distribution Company
businesses and consumers.
the introduction of a number of innovative products and marketing
strategies and to bring the world the best products at the lowest prices
so consumers and business can save time, save money, print more and
print better.
Safe Harbor: This Press Release contains forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. These
forward-looking statements are based on the current plans and
expectations of management and are subject to a number of uncertainties
and risks that could significantly affect the company's current plans
and expectations, as well as future results of operations and financial
condition. A more extensive listing of risks and factors that may affect
the company's business prospects and cause actual results to differ
materially from those described in the forward-looking statements can be
found in the reports and other documents filed by the company with the
and News Service. The company undertakes no obligation to publicly
update or revise any forward-looking statements, whether as a result of
new information, future events or otherwise.
Source:
ICNB The Rally Still Going Strong
ICNB adds another 80% today as the stock soars to new highs. An amazing four day rally for the stock. It will be interesting to see if the stock has more gains in store for tomorrow.
ICNB $.0012 to $.04 in Three Days
ICNB just hit $.04 posting an amazing three day rally that has seen shares surge more than 3,000%. Will this amazing rally continue or will the stock give back these enormous gains?
Wednesday, July 25, 2012
COHO Stock Ready To Make Another Move?
COHO comes out this morning with more share related news, this time cutting its outstanding share count by 50 million shares. This could be the spark that drives shares to higher prices today and this week. COHO should be a stock to watch going forward.
Cooper Holding Cuts Outstanding Share Count by 50 Million
Marketwire "Press Releases"
CEO
Executive Vice President
Monday, July 23, 2012
BBDA - Next Leg Higher Coming?
After making a move from $.0003 to almost $.004 BBDA has pulled back and consolidated.
I think we are on the verge of seeing another big move higher for BBDA. The stock withstood a strong sell off after hitting recent highs and has been trading in a tight range ever since. Volume has been dwindling compared to the volume we saw at the start of this rally in early June.
The risk is also there for a decline back to prior levels. I think that will happen at some point this year, but for now from a bullish perspective the chart look compelling. With the company stating they are not diluting the stock further and additional buying pressure should send the stock past resistance at $.004.
BBDA issued news today July 23rd:
STATESVILLE, N.C., July 23, 2012 /PRNewswire via COMTEX/ -- Bebida Beverage Company (OTC markets:
Specifically:
BeBevCo adds Liquid Culture Distribution to service the 7 counties surrounding Charleston SC, General Wholesale, the Miller-Coors distributor located in Spartanburg SC will handle the 4 counties in the Spartanburg region. Also Yahnis Distribution, the Coors-Miller distributor will penetrate the Myrtle Beach area as well as northeast area of SC which includes 12 counties. Finally, several other areas are still filling which will result in full SC coverage for the worlds fast growing liquid relaxation product, KOMA UNWIND; the delectable, multi-berry tasting, lightly carbonated product which is relaxing and helping more consumers sleep better every day.
"Shortly, we will have all of South Carolina covered. Getting a major retailer has had a profound and very positive effect on our Company and our product distribution. We are now planning the expansion on all fronts for the surrounding states. For the time being, expect a steady stream of announcements regarding the exponentially increasing distribution of our products," said Brian Weber, CEO of Bebida Beverage Company. "The relaxation revolution is in full swing and we are at the top!" Weber concluded.
About BeBevCo
BeBevCo (Bebida Beverage Company) develops, manufactures and markets liquid relaxation products including KOMA Unwind "Liquid Relaxation" (TM), KOMA Unwind Sugar-free "Liquid Relaxation" (TM) and KOMA Unwind "Liquid Relaxation" Shot(TM) as well as Potencia Energy, Potencia "BLAST" energy shot, Relax 5 shots and Piranha Water.
Safe Harbor Statement
Except for historic information contained in this release, the statements in this news release are forward-looking statements that are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause a company's actual results in the future to differ materially from forecasted results. These risks and uncertainties include, among other things, the company's ability to attract qualified management, raise sufficient capital to execute its business plan, and effectively compete against similar companies.
Contact: (704) 660-0226 extension 5
MWIP - Making A Move Off It's Lows
MWIP made a nice move today closing up 50% at $.0021. The stock looks to have put in a solid bottom and is beginning to move higher off of it. The stock sits right at its 50DMA and a break of that would put the $.0036 200DMA into focus. After such a drawn out decline I think there is a good chance of a sharp rally for MWIP. Whether or not its sustainable is another question. When trading penny stocks that are near their all time lows, all a trader needs to worry about is selling for a profit. I think MWIP will provide the profit over the coming days.
MWIP's latest news from July 3rd:
LOS ANGELES, Jul 3, 2012 (GlobeNewswire via COMTEX) -- MediSwipe Inc. (www.MediSwipe.com) (OTCBB:
"I am very pleased to announce this acquisition of SweetMD.com in light of the recent vote and Supreme Court's decision regarding the future of healthcare for those Americans seeking viable and affordable options. We believe that our strategic plan for SweetMD.com as a model and aggregator of virtual healthcare services, will allow easy access to healthcare options for millions of Americans for which coverage is now mandated by our government, at a low cost to individual patients and their families", stated B. Michael Friedman, CEO of MediSwipe Inc.
"We truly believe that this online healthcare platform represents the ideal and affordable model of healthcare for the 21st century. Our services include telehealth, allowing patients the opportunity to speak to physicians via video online, discounts on office visits and name brand prescriptions, as well as personal health records for family members. This partnership will now allow both SweetMD and MediSwipe to offer consumers a complete healthcare solution utilizing our large network of providers and facilities at an affordable price, that will generate meaningful revenues and create long term value for our shareholders," stated Erick Rodriguez, President of MediSwipe Inc.
Tuesday, July 17, 2012
Monday, July 16, 2012
Friday, July 13, 2012
OPMG Stock Breaking Out To The Upside
OPMG continues to post gains hitting $.0019 in the middle of the trading session. We could be looking at further upside as buyers continue to hit the offer.
Thursday, July 12, 2012
OPMG In the Midst of a Reversal
OPMG closed at $.0013 today. The stock is reversing off lows and is seeing strong buying volume. We could see a strong day again tomorrow with the stock now trading above a major moving average. The next clear point of resistance is $.004.
Tuesday, July 10, 2012
SAPX - Shares Halted
I think the chart says it all.
NEW YORK--Seven Arts Entertainment Inc. (SAPX) said it was informed by the Nasdaq Stock Market on Monday that the exchange suspended trading in its shares and made a preliminary decision to delist the stock.
The move came as the independent film production and distribution company said it was informed by Nasdaq that it had violated rules related to new share issuance. Seven Arts said Nasdaq also raised questions related to the film company's March shareholder meeting.
Seven Arts Chief Executive Peter Hoffman said in a statement that the company was surprised by the Nasdaq decision to suspend its shares and begin the delisting process for what the film company viewed as "technical issues" regarding compliance with Nasdaq rules tied to stockholder approval of the issuance of Series B preferred stock.
Nasdaq alerted traders of suspended trading at 11:19 a.m. EDT. A subsequent news release from Nasdaq said trading in Seven Arts would remain halted until the company "has fully satisfied Nasdaq's request for additional information." A Nasdaq spokesman declined to comment on whether the exchange operator is taking action to delist the stock.
Seven Arts plans to provide additional information required by the stock exchange and remains "confident that the actions taken at the stockholders' meeting were pursuant to our articles, bylaws and Nevada Law," Mr. Hoffman said.
The company plans to appeal any decision to delist its shares, he stated.
The exchange, part of Nasdaq OMX Group Inc. (NDAQ), said trading in the shares will be halted until its request for information has been fully satisfied.
Shares were trading at four cents, up 0.5% on the day, when halted Monday morning. The stock has lost 96% of its value in the past year.
SKNY - Reversal Coming?
SKNY closed at $.007 today, the stock has been taken down from well over $.02 a share. If we go back to a longer term chart SKNY has been in a tail spin for quite a while. I think the stock is gonig to reverse course soon in a sharp manner.
Some recent financing news I think has been neglected and while could lead to further weakness long term, should help the stock recover some of its losses in the short term. To put it simply SKNY should see a bounce over the next few days/weeks. I think this $.007 stock will trade back over $.01 and could head higher from there. I think the $15 million in financing news should have propelled the stock earlier this month, perhaps we see a delayed reaction.
Here is the recently over looked financing news.
CONSHOHOCKEN, Pa., July 2, 2012 /PRNewswire via COMTEX/ -- Skinny Nutritional Corp. (OTC BB:
"The investment Trim Capital is making in Skinny Water will give the Company the capital to execute its growth plan. Having access to this capital will allow us to accelerate our marketing and brand initiatives, add new product lines under the Skinny Nutritional Corp. umbrella of Skinny trademarks and build inventory levels to satisfy the demand for our products," said Michael Salaman, CEO of Skinny Nutritional Corp.
Trim Capital LLC's Managing Partner, Marc Cummins states "Skinny Water is exactly the type of investment we look for - one with the perfect combination of a solid consumer proposition, a healthy distribution system and a robust product pipeline that will continue to deliver great-tasting and healthy products to the marketplace."
Summary of the Transaction
The financing is structured to occur in three separate closings, with each of the second and third closings subject to certain conditions. Upon the Third Closing, Trim Capital will acquire $9,000,000 of equity units consisting of shares of a newly authorized series of redeemable senior preferred stock and shares of common stock equal to 65% of the fully diluted shares of common stock of the Company. In addition, at the third closing Trim Capital will provide the Company with a $6,000,000 senior secured credit facility.
At the first closing which was completed on June 28, 2012, the Company sold a $1,000,000 senior secured bridge note to Trim Capital. At the second closing, which is anticipated to occur within 45 days, Trim Capital will purchase an additional $3,000,000 of securities of the Company, consisting of a combination of an additional senior secured bridge note and equity units consisting of preferred and common stock. At the third closing, the bridge notes sold at the first and second closings will convert into equity units, and, in addition, Trim Capital will purchase $5,000,000 of additional equity units such that, after the third closing, Trim Capital will own $9,000,000 of redeemable senior preferred stock and 65% of the fully diluted shares of common stock of the Company.
The second closing is subject to customary closing conditions, as well as ,the negotiation of the final terms of the senior secured credit facility and the filing of a proxy statement with the Securities and Exchange Commission relating to an annual meeting of stockholders to vote on, among other things, the authorization of sufficient shares of preferred stock and common stock to issue at the third closing. The third closing is subject to customary closing conditions, as well as stockholder approval of various matters relating to the transaction.
The senior preferred stock to be issued at the second closing will have no voting rights at the time of its issuance at the second closing; provided that, at the third closing, the holders of the senior preferred stock issued at the second and third closings will be entitled to elect four members of an expanded seven-member board of directors and will have certain protective provisions requiring the consent of the holders of the preferred stock for certain corporate actions.
The Board of Directors of the Company has approved the transactions consummated at the first closing and the transactions to be consummated at the second and third closings, subject to, among other things, the finalization of the documents relating to the preferred stock and the proposed senior secured credit facility. Michael Salaman, the Company's CEO and a director, is a minority investor in Trim Capital. Bryant Park Capital initiated the transaction and served as the exclusive financial advisor to Skinny Nutritional Corp. throughout the transaction.
Trim Capital LLC is affiliated with Prime Capital, LLC, a private investment firm that assists consumer companies in financing operations and expansion. Trim's objective is to assist Skinny Water in building its brand by providing strategic, branding and marketing expertise, as well as, operational support.
Skinny Nutritional Corp. holds an extensive portfolio of trademarks for Skinny products and has a planned roll-out schedule that is expected to fuel significant growth. More information about upcoming launches will be detailed in the coming months.
The current Skinny Water� lineup features six great-tasting flavors, including Acai Grape Blueberry (Hi-Energy), Raspberry Pomegranate (Crave Control), Lemonade Passionfruit (Total-V), Orange Cranberry Tangerine (Wake Up), Pink Citrus (Power), and Goji Black Cherry (Shape). Every bottle of Skinny Water� has key electrolytes, antioxidants, and vitamins and ZERO calories, ZERO sugar, and ZERO sodium, ZERO carbohydrates and contains no preservatives, with all natural colors and flavors.
LGBS $.0001 To $.004 This Year
LGBS continued its upward move today as news hit the wires. The stock has seen a slow steady move higher and could see further gains this year.
The stock has seen modest buying volume and selling has been light, if this keeps up the stock could trade over $.01 in the short term.
Legends Seeks Rights to New Battery Charging Technology and Begins Process to Become Fully Reporting
GlobeNewswire "Press Releases"
"We here at Legends think the evolution of the battery charger can be a game changer in the green energy marketplace," said
The company is currently in the process of obtaining the exclusive rights to a new type of battery charger that can help eliminate the restrictions of current battery technology. Sablon predicts that Legends should be able to conclude negotiations in the next couple of weeks adding, "After months of research and testing we believe the company is on the verge of a major breakthrough in highly efficient battery charging technology and can not wait to bring it to the public."
Not only will Legends be bringing this exclusive product to the market, but also we have agreed to regain our fully reporting status with the
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Monday, July 9, 2012
ADMT Soars From $.02 to $.25
With no news releases or filings in the last month one has to wonder what made traders buy this stock all the way up to $.25 this morning.
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