Posted by: WallStreetFamily
In reply to: None Date:3/7/2008 8:24:35 PM
Post #of 141578
*****" TODAY's 8k & Information "*****
*I have just read through the last 300 posts. The majority of these posts were either "off-topic" or "negative penny-slang" unrelated to SWVC. At the end of the day you only need information that really effects and plays a role in the company as it moves forward. Here is a list of posts today that are worth a read and relate to todays 8k in a reasonable and fair way.
:>*****Today's 8K was simply housekeeping.
Good news included:
Verification of terms of WF line of credit.
Amending of existing YA convertible debentures.
:>*****The housecleaning 8K is done and the time is coming for Tom's next Shareholders' Letter updating us with EXPANSION NEWS, ACQUISITION NEWS, LEGACY CONVERSIONS DONE! NEWS, etc, etc!
:>*****I beg to differ with you on this 8K and may I direct your attention to a line in the 8K that many either overlooked or deliberately overlooked to make it look bad:
:>*****(2) the Exchange Debentures, the Convertible Debentures, and the Warrants were issued with restricted securities legends,
:>*****Also looks like Tom reworked all of the old CD's into exchange debentures with restricted stock upon conversion. Now they have the new CD announced today, the exchange CD and the warrants all under the restricted legend. Not bad!!
:>*****As part of this exchange transaction, the Company amended three outstanding YA Global convertible debentures (the "Convertible Debentures") to, among other things, match the Exchange Debenture conversion feature.
:>*****I have to admit - the restricted legend being added on is pretty clever. I never would have thought YA would do something like that.
:>*****WELLS FARGO NA.The term of the Line of Credit is three years. The interest rate on the Line of Credit is equal to the sum of the Wells Fargo prime rate plus one and one-quarter percent (1.25%), which interest rate shall change when and as the Wells Fargo prime rate changes. These funds will be used for general working capital at the Company.
:>*****Actually, the debt exchange will help the Hacketts Operations Balance Sheet
:>*****Looks like the terms for the Wells Fargo loan are a little less than the 18% one of the crooks was trying to pass off as reality. Based on the article that was posted on the board about Inventory based financing, prime + 1.12% sounds pretty good. I think they stated an average as prime +2%.
:>*****Everything looks fine to me. He's doing all he can to be creative and resourceful in making his company successful. These things take time. But, you watch. There will be very good news very soon, IMO. This enterprise is 100% legitimate.
:>*****Once it's clear that we're on track with ACQUISITIONS, EXPANSION, etc, there will be no way they can scare off new investors with bogeyman tales of "fully diluted" blah-blah-blah.
The board will go back to intelligent conversation and sharing of DD
:>*****Crash what you stating is wrong. You cannot dilute more than your authorized shares. AS is 2.5B.SWVC is fully reporting. Therefore, Tom would file to increase the AS.Please cut it out and stop being deceitful.
:>*****please be honest,just as there is no guarantee we will see .5,.25,$1,$5, there is also no reason to assume with any degree of credibilty that float will grow riduculously.
this is a real company,with real potential, this "the sky is falling crap" is stupid, yes the float has grown and i am sure we will soon find the intrinsict value increase(aquisitions,etc)
:>*****Outstanding 8K. Some people around here either lie or are just igggnant!
:>*****Cashless warrants at .01 are worthless if the pps is less than .01 so what does that tell you where this is going if they want to profit?
:>*****Things are changing for start ups in penny land there is other options now other than the old toxic CDs YA is business savy enough to change with the times.
:>*****Sure that makes sense as to ensure the restricted would be worth something and to see if they could be properly managed.
:>*****Wells Fargo,YA,and others are getting a look behind the scene and know what Tom is working on,Why else would they make long term contracts like they are.They know whats going on and we dont,Darn it.Must be something big,I can wait.
:>*****Some reading for you:
www.learnaboutlaw.com/newsletter/v0007.html
www.feinberglawgroup.com/Rule144.htm