Subscribe to this topicForums > Sky Power Fund > Topic: Is it not about time to close the books on this bloody failure !!!
| May 20th 2008, 22:00 Ironfist Hutchinson |
Is it not about time to close the books on this bloody failure !!!
Edited by author May 21st 2008, 12:08 |
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| Have a talk with Bo Beck to get access to the cash and buyout the 2 exsisting IPO's and a handfull of other decent stock if any does remain. Just convert all to stock and divide the stock among the shareholders according to what they may have a claim to. It is better to have it on my personal account because I could not do worse my self. My money is floating around for nearly 6 months now and the end of it is still far to be found. I read the sugestions in the meeting log about merging into NIC and Nestler was willing to entertain the thought plus the message from yesterday stating that NIC has taken a position in NDX makes it all come together nicely, although it would be weird to see the circle that the money has made close on this way. Travis PSG -> Skyranger POW "with hedgefund money" -> Sully POW -> interim PDF -> Travis NDX , its like a damn boomerang LOL. Of course it is very unusual all and nobody will be happy with yet another switch but what is the alternitive ? .... waiting for Sully to return, it must be a real drama what happened to Sully (I hope not though) if he is not able to find 10 min in weeks to place a post or respond to the many attempts to contact him. Anyway, I as an investor seen enough of this on going fiasco that is called PSG, POW/Skyfund, PDF or whatever. It is just horrible to see it all muddle on while the money is going to waste instead of making profit as it should. Just take this bad memory to its final restingplace. |
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| May 20th 2008, 22:40 Scott Nestler |
Re: Is it not about time to close the books on this bloody failure !!! | |
| Ironfist, The only issue I see with NIC converting POW/PDF Shareholders is what the determined value of POW/PDF is. If we could come to a agreement on the value then I can make a public offer to POW/PDF shareholders. I can post more details tomorrow, but if this is a direction that all shareholders want, I am open to talk. Scott Nestler CEO, NIC |
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| May 21st 2008, 04:43 iVentures Volitant |
Re: Is it not about time to close the books on this bloody failure !!!
Edited by author May 21st 2008, 04:43 |
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| Let us, myself and Guardian, know if we can assist with the valuation process of the potential M&A. iV |
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| May 21st 2008, 11:27 Ironfist Hutchinson |
Re: Is it not about time to close the books on this bloody failure !!!
Edited by author May 21st 2008, 12:09 |
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| Well determining the value should not be to difficult because POW has been on halt mostly and the last meeting log states that Sully only made 30 trades and the assets seem to be well documented so iVentures and Guardian (Thanks for the offer to assist) should not have to much trouble sorting that out. JTIC was supose to end on april 30th so those should convert to cash any day now plus it must have made a nice ROI on top of it, although it is May 21th now and I have seen no posts or significant action on it yet so I would like to see a statement on that if possible. LCA seems to be filing for bankrupcy after the yet to be resolved issues between Lindsey Druart and Scott Nestler about a significant loan that Sully (suposedly as the CEO of LCA) took on from Scott Nestler. So that stock could be regarded as a total loss. POW/PDF looks well documented and stockprices seemed to fluctuate between .70 and .85 before the halt, altough the attempts of the largest shareholder to lower the price to buy more shares cheap (of course it is his right to do as he pleases with his money) does not inspire much convidence for the future of POW/PDF. SLW well we are all aware of the current situation on that one, they are not going anywhere so they only have to be divided according to the rightfull claims. Current cash on hand.. just buy out the 2 current IPO's As for the other shareholders, Well given the choise between the current status quo with a interim CEO (Thank you Reina for jumping in) who is trying to keep this boat floating for now and the option to merge into a strong, promissing upcomming company that already has a good foothold in SL and is backedup by large assets etc etc etc .... eeehh tough choise. |
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| May 21st 2008, 11:58 Ironfist Hutchinson |
Re: Is it not about time to close the books on this bloody failure !!! | |
| Correction on LCA being a total loss. Lindsay seem to have plans to keep it alive by merging LCA in to a new vehicle called LLC that will be listed here on SLCapEx. |
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| May 21st 2008, 12:38 Scott Nestler |
Re: Is it not about time to close the books on this bloody failure !!! | |
| Look at the portfolio. JTIC, 468,940 shares worth today $467,462.40 SLW, 904,241 shares worth today $280,314.71 the LCA shares are worthless right now, but if we use the hault price on the 36,428 shares its worth $10,199.84 Total value is $ 757,976.95 Share not in treasury is 2,146,189 Value per share is .35 What do you think that POW/PDF is worth? |
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| May 21st 2008, 12:57 iVentures Volitant |
Re: Is it not about time to close the books on this bloody failure !!! | |
| Ironfirst, would like to know your input. iV |
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| May 21st 2008, 18:01 Ironfist Hutchinson |
Re: Is it not about time to close the books on this bloody failure !!!
Edited by author May 21st 2008, 18:14 |
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| Well Arbitrage's guaranteed buybacks of SLW at 1.03 thats what the stock is worth and not what the vultures are willing to pay for it to get their hands on it cheap and wait for the buyback at 1.03 so these SLW stocks have a guaranteed value of 904,241k no matter what they are all screaming. I agree LCA is hard to put a finger on right now but it is is not dead yet and Lindsey is one heck of a fighter and spoke of a .50 share price but will drop a bit so lets keep it on 15k The JTIC shares have accumulated an ROI of ???? that has not been payed to share holders yet so that is comming on top of the 1.6 cash on hand. So a quick sum up would be roughly L$467,5k on JTIC + the outstanding ROI of ????? 904,241k on SLW 15K on LCA 1.6M cash on hand makes about and around 2,9M in portfolio value So should share price not be well above 1L$ or so ? Of course this is a pipe dream but a .90 a share is not unreasonable. I will leave these matters to the hardcore numbercrunchers out there. But .35 is a bit low for the value POW truely seems to hold. Besides ... I am not the only one here, so lets hear others on this too. |
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| May 21st 2008, 18:34 Ironfist Hutchinson |
Re: Is it not about time to close the books on this bloody failure !!! | |
| Sorry must be seeing double and mixing things up, dont know how I came up with 1,6M cash on hand. Anyway we hear about it all soon if the other shareholders speak up. |
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| May 21st 2008, 18:58 Ironfist Hutchinson |
Re: Is it not about time to close the books on this bloody failure !!! | |
| Been looking at it again and seem to have doubled portfolio value with an imaginary cash on hand, but it is still twice what scott came up with so .70 a share would be more correct. dont think other shareholders will go for that. Would have to think that over myself too actualy. |
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