American Water Star has been halted for trading by the American Stock Exchange for failing to file it’s year end audited financial statements in a timely manner.
This is an inexcusable breach of responsibilty on the part of management.
I have no idea when the stock will reopen for trading, but I know it will at some point in the future. There is a possiblity the stock will not open for trading on the AMEX again. I am not certain, but I believe there is a regulation which states that if a stock is halted for trading for a certain number of days, it automatically gets listed on the Pink Sheets, and must re apply for listing to a higher level.
The company’s decision to fire its previous auditor in mid quarter and replace them with a new auditor is no doubt a contributing factor. Thanks to one of the more draconian aspects of the Sarbanes Oxley act, companies must fire their auditors prior to the year end audit. If not, the prior auditor has to sign off on every regulatory filing over the next year. This allows auditing firms, which have become nearly extortionist in nature since Sarbanes Oxley, to over charge substantially.
If this is a matter of a day or two more, it might not have significant consequences. However, if this drags on for much longer, I suspect it will have significant negative consequences to the stock price.
In the meantime, there is nothing to do but wait and see what happens. While this doesn’t really effect where the company could be headed if they get their plants online and operating and generating the kinds of revenues Mr. Mohlman has projected, it certainly calls into question management’s competency on the public company side.
Stand by for updates as news unfolds.
Your comments are welcome. They should be interesting.
I am sure disappointed in management of this public traded company. Sure would think if they had the share holders interest this would not have happened. Just hoping to get out without too big a loss at this point!!! Barbara
Editor: I hope your hopes are realized. This is a very negative development.
how about taking the money on account and putting it on one roll of the dice…I think there’s a casino within walking distance..hmmm….maybe they did….
Editor: Possibly- we’ll find out eventually.
The halt is just one of many negative developments going on with the stock – and one of the minor ones at that. Revenues are still low (Q4 will be about half of Q2 – the numbers in the conference call sounded nice, but things get ugly if you take the time to check the math), expenses are still extreme, some dilution is occurring, last summer’s new product lines are still delayed, and plans to get into the major retailers have gone by the wayside. Looking at the likely results for Q4 and Q1, there isn’t a single positive for this stock right now. Considering that the paid promotion period is just about over anyway, it’s time for OTC Journal to declare this one a failed idea and move on.
Editor: Not sure what you mean by the paid promotion time period- there isn’t a time period. I will definately declare it to be a failed idea when it is. All the other factors you mention are true- In light of recent developments, it is becoming more likely this will be a bad idea. And you’re right- time to move on. If you don’t realize there will be failures in microcap investing, this is not the end of the market for you. I have been pretty candid about this company’s problems since last summer, and have tried to present both sides of the story.
I thought this company was really going to go places. Thier product was in my local Walmart and selling. So I bought the stock and ever since have been burnt. Looks like this one is going to be a big loser. Can anyone tell me what make this report so difficult for them to file in a timely matter?
Editor: As I stated in the BLOG, they changed auditors in mid February, which is a major contributing factor to the delay. My concern is that there are other problems worse than a simple delay which will be disclosed in the eventual filing. We will see when it happens.
I just found this. This is old stuff. but I’m not sure how many know. Have we added ourselves to the list of those that have been had? October 27, 2003 Stocklemon Reports on American Water Star Inc (AMWS) Part I CEO Of American Water Star Inc (OTC: AMWS) is a Notorious Con-Man. A recent high flyer on the OTC has been American Water Star. With over 50 mil shares outstanding, this startup water company has a valuation of over $60 mil. But look who is at the helm of this ship. Roger Mohlman…the San Diego Granite Man Before Roger Mohlman was the CEO and largest shareholder of American Water Supply, he was the notorious Sand Diego “Granite Man” who was originally charged with 48 counts of Fraud. For the whole story on Roger Mohlman click below. http://www.thesandiegochannel.com/troubleshooter/1727034/detail.html No where did Mohlman disclose this is any filing. This is material information. But what is an SEC violation to this guy. Hey, anybody need some granite? This is not the first time that Mohlman has had a run-in with the law. Mr. Mohlman is supposed to have an illustrious career in licensing products. Obviously, no one has contacted the people at B.U.M. about this. According to the LA Times. HUNTINGTON BEACH Alleged Counterfeit Shirts Are Seized 249 words 7 August 1992 Los Angeles Times Orange County 2 English (Copyright, The Times Mirror Company; Los Angeles Times 1992 All Rights Reserved) State authorities have seized an estimated $200,000 worth of counterfeit B.U.M. T-shirts from a clothing designer here, the attorney general’s office said Thursday. The 10,000 T-shirts with the B.U.M. trademark were seized Wednesday at University Jeanswear on Oceanus Drive, said Dave Genens, special agent in charge of the attorney general’s Bureau of Investigation. The shop owner, Roger Mohlman, said Thursday that he was surprised by the seizure, adding that state investigators misunderstood why he had the T-shirts in his shop. Mohlman said he had a contract with Shorebreak, a San Diego distributor of B.U.M., to make 48,000 of the trendy, loose-fitting shirts. During production, Mohlman said, Shorebreak canceled the order, leaving him with thousands of shirts that had no buyer. “I just couldn’t afford to sue Shorebreak for breach of contract,” Mohlman said. Mohlman said that when he talked to B.U.M representatives about the contract, they could not offer any help. Mohlman, who said he does not have any quarrel with B.U.M., added, “You talk about David and Goliath, I’m David without the slingshot.” Officials with Shorebreak could not be reached for comment late Thursday. The attorney general’s office said Mohlman legally manufactures sportswear for the National Football League and National Hockey League, but has no legal agreement with B.U.M. Stocklemon will do more searching into the business of American Water Star, but what else does a cautious investor really have to know.
Editor: All this ancient history was hashed over many times last year. I am not defending Mohlman- I believe the failure to file the 10K in a timely manner is inexcusable- however, this stuff looks pretty benign on the whole if you really read it- Anybody who has been an active entreprenuer for years is going to have some history that someone can dredge up who wants to prove a point.
I guaranttee you that Mohlman doesn’t like this anymore than you or I- he has invested substantial amounts of capital and has been a buyer in the open market. However, the stock is still halted for trading, and that’s not good.
Well, I think it is 30 days that a company has theopportunity to get the information in. I also think a company goes from the otc to the pink sheets. I also think that if the company can maintain a dollar a share that it will help maintain it’s listing. Sometimes we see companies give out a lot of news releases that do not have much substances so unless we take it upon ourselves to make those connections with management of the companies we are really unsure of what is happening. You are definitely a great source of information and I firmly believe that you are well connected with the companies you talk about. Unfortunately honest and sincere people like yourself are not given all the necessary information. Just like your email you received last week that said it was convenient for you to say it was not a traders market is not a fair thing to say. You are not sitting there with a crystal ball. I truly enjoy the companies that you follow and i hope that the companies that I have been in contact with over the last couple of years will share their story with you. I love their companies and their growth potential but they prefer to be on the quite side of the I.R. and investing public until they have all their ducks in a row. It would not surprise me though if I mentioned their names you would be somewhat familiar with them. By the way how many outstanding shares of knwi are there?
Editor: Their 30 days is up. However, on other exchanges the stock just trades with an “e” on the symbol when they are delinquent on getting their filings done. I don’t know whether this is unique to the AMEX, or the AMW.
Thanks for your thoughts on the content. Lots of people whining about stocks being down right now. I can’t blame them, but they’d be better off just realizing it’s a market driven event.
Just hope the money your publication made for touting this bunch if irresponsible management losers outweighs the misery and financial losses this stock has created for those who listen to your touts!!
Editor: While it probably doesn’t matter to you, you might want to know I have lost quite a bit on this stock. The amount of money I paid in taxes from the fees is now substantially more than the stock is worth. When I sell it, there will be a capital loss that can be held against the gain, but for the time being I am getting killed just like everyone else. It’s better for everyone, including me, when the companies and their stocks do well. I don’t run any of these companies- I just report the results and spin it with my own opinion.
If the WalMart deal hadn’t gotten screwed up, and the company was prospering, no one would be whining.
Sit tight…….although it was a big oversight on Mr Molhman’s part, I don’t believe it will change to companies direction. In fact, if the stock price drops it would be in the interest of the company to buy it back at the bargain base price and hold it. Hmmmm….is there a connection? This company is lead by someone who has a business savvy and don’t think for a minute he’s in it to loose money.
Editor: I just hope there isn’t more to it than a simple delay. He’s got a lot at stake. I don’t know where the company would get the money to buy back any shares- I’m sure they are broke.
I have a simple question. Supposedly, you know management and are his friend and helper, referring to the artful Dodger Roger. Ask him, without him divulging confidential infomation, what is really happening. Doesn’t he have an obligation to his shareholders? He is, after all, still the CEO. When will audit be completed, and are there issues raised by auditors that may impair the financials? Would he be a buyer now? Or is he thinking of walking (not that he would ever tell you). If he won’t respond in an apporpriate public manner, perhaps my fear will be realized. The only time he releasses information is through carefully scripted “conference calls” containing forward looking disclaimers. My fear – Roger passes out good news with full disclaiming of any responsibility for the truth, and let the bad news be sent out by others.
Editor: Believe me, there are other people wanting to talk to him far ahead of me in the pecking order. However, no one at the company will be saying anything but news will come out when news comes out. Even if I could share some information with you, it wouldn’t do you any good until the stock reopens for trading.
I like the term “spin” that you use! Couldn’t have said it any better myself. Anyone who is paid to tout has got to view the picture from a bias angle. We have no one to blame but ourselves for following your paid advertisment! I bought in on your “spin” on FMLY several year back at 5 times it’s current price. I see your “spin” continues! Am also sitting on NWKI at $2.20 and BPTR at $0.88. Can only hope the latter two pan out as your “spin” continues to make me believe they will. Gotta smile as I am tired of frowning
Editor: You don’t have to pick on me to find small and microcap ideas that have been hammered in the past month. I notice you haven’t mentioned the April 2nd edition where I plainly stated that all traders should sell all their small cap stocks. If you didn’t listen, it’s not my fault. I told you to get out if you weren’t willing to hang in there during a period of declining values. The stocks are down because of the market along with thousands of others. I only get commentary like this in bad markets. No one whined when NWKI went from $.80 to $6 when I first featured it. I got paid then too. No one whined when BPTR hit a high of $1.20 after being introduced at $.65. Amazing.
In OTC Journal’s disclaimer, why does the entry for AMW have an end date of April 27, 2005? What is the significance of the ending dates in the disclaimer if there is no designated coverage period? Why do some companies have a six month difference between the start and end dates while for others (like AMW) the difference is a full year?
Editor: There is no end date in our disclaimer. I just read it, and that is not the case. You might see an end date in the Alerts Tracker, but that is just when the time frame for the trading alert, no the coverage. All of our contracts are open ended. They have no set end, and they specifically state the companies have no editorial control over anything we publish. If you check history, you will note that I have turned negative on a number of them in relatively short order. MRKL comes to mind- I dropped them in a month as soon as I knew the CEO misled me on the dillution. Sometimes I stick with them too long, but I am trying to get better and dropping them when things are going poorly.
Correct me if am wrong, but I think you fellow’s will cover any company scammer or not as long as they pay you a fee, am I wrong or right, be honest, I know your going to go on and on about your sucess company which is very minimal compared to the one you followed and had disapared from the face of the earth, or are at the bottom of the barrel, as far as i am, I stop following your sugestion long ago even if I was very tempted and I am very glad I did, or else I would have lost a fortune. And yes i can deal with risk and that end of the market interest me, and I know I will loose some and gain some, but your credibility to me is gone forever.
Editor: So, then why are you wasting your valuable time worrying about what’s going on here? The fact that I allowed this post to go shows that at least I have the courage and honesty to let everyone read your viewpoint. If this is not for you, just move on. Just like the market, as soon as I start getting messages like this, I usually get hot. Right now we are ice cold, but that’s life. I suggest you spend more time looking through the windshield than in the rear view mirror. You’ll get a better return on your invested time. Good luck with your future picks. I hope you find a lot of winners. This will be the last of your bashing posts I will allow to go up.
Ive notice that your starting to follow company’s outside of the micro-cap area’s like the last biotech and a few more before that, would that be that this end of the market is not for you ? meaning micro-cap, why is that a board devoted to micro-cap start following bigger company’s I see a sign there ?
Editor: Not at all. While the majority of our attention is commited to microcap stocks, there are periods of time when microcaps simply trade poorly. During those times I always caution everyone who is not long term to get out, and those who are just watch corporate performance and don’t worry about price. I did that in the April 2 edition.
But, just because the micros are trading poorly, doesn’t mean we can’t find members a few ideas for a technical trade. We have some pretty good traders on staff. This is one of those times. We just have to tough it out on the small stocks, and bring you some ideas when we have them.
Perhaps we should set up a BLOG for these ideas.
Perhaps it was misunderstood before, so I’ll try the question again… if you click on “Disclaimer” (either at the top or the bottom of the web page) and then scroll down to the list of “Covered Companies and Coverage in Chronological Order”, there are dates identified as the “coverage period” that really do have ending dates. For example, AMW is #39 on the list, and its’ entry contains the line “Coverage Period: April 27, 2004 – April 27, 2005″. If there is no designated coverage period, why is an ending date listed? What is the significance of the listed dates, and why do some ongoing companies have listed ranges of one year while others have ranges of only six months?
Editor: Those dates only refer to dates for the end of a former “Trading Alert”. Coverage only ends when we drop the company. In the disclaimer on each individual edition on every company is the compensation for coverage and the time frame. You will note that a time frame is never mentioned, because there isn’t one. In order to track the performance of a trading alert, it has to have a time frame.
Would you consider modifying the disclaimer page so that the date range reads something like “Trading Alert In Effect” rather than “Coverage Period”? A legal disclaimer is a bad place to have something so potentially misleading.
Editor: This is a very good suggestion- I will make the change. It will take some time to implement. Every time we publish a “Trading Alert”, there is a time frame provided and a stop loss. This differs from just regular, long term coverage. There is a description of Trading Alerts on the web site and an Alerts Tracker. You can find them on the left hand menu bar.
This might be nitpicking but one thing that bothered me was that during the conference call before this last one Mr. Mohlman scheduled an appointment after the call. He actually ended the call short saying he was being requested to a meeting. I don’t know about you but I’ve been in the corporate world long enough to know that you don’t assume you can estimate how long such an important call will last and you don’t end it short! What could be more important than an update for your shareholders. I’m sure it could have gone on for at least another 1/2 hour or more. It left a bad taste and feeling to me that maybe it was just a ploy to get the call ended early. I believe the stock was nearly twice as high then as it is now. I didn’t sell then because I thought I was just being paranoid so I held on. At this point I will continue to hang in there. Wouldn’t be surprised to see the stock go to the upper teens! If I was smart I would have used a stop loss a long time ago.
Editor: Funny you should mention that. I spoke with Mohlman the day before the last conference call. I suggested that he not make the call from his cell phone while waiting for an appointment. I as well thought it was unprofessional. Who knows when this thing is going to reopen. My guess is it will reopen in the pink sheets.
ON AMWS WEBSITE OF TODAY THERE IS UPDATE OF FILING OF 10-K. WHAT DOES IT MEAN?
Editor: I can’t find anything new on their web site. Just the press release from the 19th on the right hand menu bar. Same thing- halted for trading until they file their 10k. It is halted on the AMEX, but could reopen for trading on the BB or the pink sheets. We will see.
Announcement today more of the same. It is just official anoucement about AMEX letter sent to AMW on Apr 20. Quoting from the letter: “In order to maintain its Amex listing, the Company must submit a plan by May 4, 2005, advising the Exchange of action it has taken, or will take, that would bring the Company into compliance with the Sections 134, 1101, and 1003(d) by no later than June 15, 2005.” http://eol.edgar-online.com/ShowFiling.asp?dcn=0001077048-05-000226
Editor: There is some reason for a little optimism in that announcement. First, according to the letter, the company could maintain its AMEX listing if they get the 10k filed by the 5th. Second, they are restating past quarters because of improper bookings of some share issuances- past performance means nothing with this one. All that matters is the June quarter.
After three phone calls for Don Himinowsky (one day he had left for the day by 2:30 p.m. and the second call he was tied up in a meeting) @ AMW I was able to make connections with him on the afternoon of 4/29. Don is listed on their web site as the investor relations contact for the comapny. I asked him to explain the stoppage of trading and he basically gave me the company line which I already knew. He did indicate to me that they felt as though the filing would be completed by 5/4 and he believed that the American exchange would take a day or two to review and the stock should begin trading again after their review. I told him there had to be many investors like me that were very disappointed in the companies management and their inabaility to file in proper timing. I also told him I was considering my total investment lost as I was sure once trading again began it would plummet! He indicated to me he felt the filing would porve they are a viable beverage producer with three plants currently in production. His last comment to me was that their production facilities would continue to operate ongoing. I would simply say if the filing isn’t completed by 5/4 then our investment is basically gone. Pink sheet conversion or not all credibility will be gone. I am a director in the retail food bsuiness and I was almost stupid enough to pursue adding the prodcut to our mix on our 120 midwest stores back during the WalMart news. Very glad I didn’t waste my time now. Just said I invested in the “questionable company!”
Editor: I am sure Don is handling a lot of calls like the one you described. I hope they get the filing done by the 5th and do reopen on the AMEX, but who knows. The company has promised lots and delivered little. If they resume trading, it’s all about the June quarter. If the company does not deliver a huge quarter, then it is all over.
I appreciate your coverage of this stock. Sorry you have to put upwith flames, but its cool that you respond. I respect that.
Editor: Thanks for the comment. When I first met the company, I was told they could do $100 million just with WalMart. Everyone can see what has happened. I just hope they come through this and have some level of success with their new business model.
I called again yesterday as the filing has not occured as Don Hininowsky had told me it would. All will be interested to know that he has taken a leave of absense (big surprise ah) and the mouthpiece on the other end told me the filing has occured and it should be Monday or Tuesday before they become re-listed on the AMEX. Will give them one more chance to actually speak the truth but doubt the stock will be re-listed. Fellow shareholders I believe we can paper our bathrooms with our worthless American Water Star stock certificates going forward. Hope I am very wrong but this company has been one set of lies after another coming from the mouths of management. Wouldn’t mind so much the losses if I did not feel we had been lied to by management and their tout since this adventure began! Chris
Editor: I recently spoke with senior management at the company. They are hopeful the stock will reopen on the AMEX late this week. Perhaps you are right, but I believe declaring them to be dead is a little pre mature.
All of us investors are big boys, responsible for our own decisions. So too, are the people at AMW, and at least we see a light at the end of the tunnel on the unknown mysteries of Mr. M. Soon, we will know if the light we see is a train. I look forward to Editor comments following the new disclosures and filings.
Editor: I have recently spoken with senior management at the company. They are confident the stock will trade again very shortly, and reopen on the AMEX. I am from Missouri, the Show Me State, on this one.
Weren’t the Q1 numbers due this week? Are they now delinquent for two quarters?
Editor: yes- Q1 numbers were already due out. I asked management about this specifically, and was informed Q1 would not be required to be filed for the stock to open for trading. I’m not certain about that, and we will see. They should be able to get that filing done in short order after the K is filed.
I’ve performed auditing and appraisal services for AMW and find their management teams in place, knowledgeable and experienced in bottling. Both the Phoenix and JAX facilities were well thought out, well engineered, set up and ready to run at the flip of the switch, with equipment in excellent condition (a lot of it new). So there’s no doubting their true intent. However, as I walked through these facilities, my first impression was “why aren’t these production lines running?” “Do they know there’s a huge co-packing market?” Even if their brands aren’t currently consuming the available production time, there are a lot of bottlers and entrepreneurs in need of their production capacity and willing to pay handsomely. They could and should be liberating a ton of cash through contract packing other private label brands. Clients are accustomed to laying out the cash for raw materials, so all that’s left is to “flip the switch” and start running. Either I’m missing something, or they’re missing something.
Editor: Again- they just have to deliver the numbers, and all their problems go away.
any chance that I can get some of my investment back in product? I could easily drink 4 or 5 six packs a week.
Editor: Call Roger Mohlman about that request. I’m sure he would love to send you some “reformulated” product.
Just looking for an update since the last posting is over a week old.
Editor: I was under the impression the company would finally get the 10k filed last week, but they never got back to me. This is getting pretty long in the tooth, and they had better get it together quickly.
AMW will trade again next week!! Could we have another run to $2 – $2.50??
Editor: I’m assuming you get next week from the June 15 deadline- from your keyboard to God’s ear. $2 to $2.50 is only feasible if the company gets the $80 million in revs done as promised.
Given tonight’s news concerning AMEX listing temporary approval, what do you expect when trading resumes?
Editor: I don’t know, but will call the company for clarification. Has to be before June 15 as I read the announcement. I will try to give everyone a heads up on the opening.
Any news on the trade resuming? Still hopeful!!
Editor: Chances are improving- will make a call tomorrow to see what I can find out.
all the promisses amw makes and nothing happening sure does make everything seem like a bunch of bull,i am going to let my stocks ride and see what happens,if you dont have the money to risk you shouldn t mess with the stock market
Editor: In all my years of trading microcaps, this is one of the most bizarre situations I have ever encountered. I am trying to find out if and when the stock will reopen for trading, and get a handle on where they are business wise. I’m not sure if all the problems related to their stock have caused any business interuption, but I’m sure Mohlman will fill everyone in. It’s time to deliver.
With the auditor’s concerns regarding the company’s ability to continue as an “on-going” concern, is AMW headed for bankruptcy court and canceling of shares? Or, do you believe RM is trying to sell the company at this time? Who would lend the company addtional funds given this most recent fisasco?
Editor: I have seen dozens of companies get going concern letters and not go into bankruptcy for years on end. I would have been surprised if they didn’t get one. I don’t know where they will get working capital if they need it, and I doubt he is trying to sell. I think he will try to restore the credibility before trying to sell.
Want to know the reason for this company’s complete failures, its spells ( JOHN MOHLMAN ) what ever he touch turn sour. and to me the company’s finish and will loose the values of are shares going to nothing, once more.
Editor: I believe you meant Roger Mohlman. Thanks for your contribution. Right now, I would be happy if the stock were to simply reopen for trading.
I just went to the web site get an update and notice it is not available.. What is the lasted form your end. Are we still looking at opening for trade? I know you commented that the 15th was important.. we are one day away
Editor: I have calls into the CEO, and no return phone call as of this time. As soon as I know, I will clue everyone in.
If the stock does reopen, or perhaps when it does reopen, are you a seller?
Editor: Until the stock opens for trading, I can’t say for sure. If it opens at $.10 I would be inclined to be a buyer. If it opens at $.50 I might be inclined to be a seller. It also depends on what the company has to say about the state of their business. In theory, all these regulatory challenges should have nothing to do with their business. If the company is functioning as promised, the stock could be worth holding. In either case, I will publish my intention before doing anything.
This is getting rediculous. To say the are neglecting their responsibilities would be an understatement. Everytime I see a news article about AMW earnings, it the same old stuff from 9/30/2004. Hiding from investors like they are doing is causing more negative vibes. Maybe Roger has a self serving plan to get the stock to plunge so he can buy some at a good price. Maybe their waiting for good financial news before releasing bad quarter news. Who knows what to believe when their actions speak different from their words. Is the task of figuring out the financial statement so monumental to take a whole quarter to figure out? I’m usually pretty patient but this has the appearance of “scam” written on it.
Editor: I believe there are many out there who would share your sentiment. Since there is nothing you or I can do about it at this time, there’s not much to worry about. If and when it opens for trading again, we can vote by selling, buying, or doing nothing.
The following is a list of companies whose independent auditors recently issued statements indicating they have doubts about the company’s ability to continue as a going concern. Also included are companies that have raised doubts about their viability. American Water Star Inc. (AMW) The company’s accounting firm issued a going-concern qualification because of its accumulated deficit and the need to obtain additional financing to fund payment obligations and to provide working capital for operations. Doesn’t sound so good does it?
Editor: It’s not neccessarily all that bad. I have seen dozens of companies get going concern letters and go on for years. However, the longer this stretches out the worse.
At this point I am papering my bathroom with my worthless 10,000 shares of AMW I purchased afetr your tout at aroung $1.80/share. I continue to call the company and as usual get the verbal runaround. They refered me to thier investor relations number which was Yens at 415-884-0348. Again a message was taken mid week and no return call was made. If I am not mistaken, he was the individual that moderated the conference calls so is nothing more then a mouthpiece for the worthless management. Called back to the company itself and refused to give up until I could speak to someone. I was told Roger M. was in New York working to get the stock relisted on the AMEX. The man who finally did talk to me rattled on for a few minutes and basically told me nothing but the continued line. I did ask him if the company continued to operate and he indicated they were still doing business and would announce the supply agreements when the proper reports were filed. I will be the first to admit we are each responsible for our investment in the bogus management group and company, but your newsletter should also be extremely disappointed in promoting the stock to your readership. If anyone truly thinks this thing is ever going to be worth a red cent you have got to be fooling yourself. The management continues to hold the shareholders hostage by their refusal to list anywhere other then the AMEX!!! Frankly I wish it would begin trading again so I can SELL get the whole mess behind me and forget the HUGE mistake I made listening to you paid comercial announcement on this stock some time back!! Chris
Editor: It happens in microcap stocks, but generally not this ugly. When I first interviewed the company, they told me they would do $100 million with Wal Mart. This was never stated publicly, but privately. Then they revamped their business model and said they would do $80 million in copacking this year publicly.
If it makes you feel any better, for representing them, we paid twice as much in taxes than the stock was worth when it halted for trading. Our stock is booked as income. The only way for us to recoup anything is to sell at a loss and get the tax benefit. Just like you, we can’t even do that at this point. This is one of the ugliest and wierdest one I have ever seen. I wish I had never heard of them as well.
Even if Roger were ousted, the company get decent contracts, and then get relisted, with all the people clamouring to dump the shares the price can go nowhere but down. The real issue is: What is the truth? What is going on at AMW? This stock will not, in my opinion, trade on fundamentals until two events occcur. All bleeding needs to be done and they need to deliver. Too bad its too late to short.
Editor: I have been saying all along all they need to do is deliver on promises. The market will not give this company the benefit of the doubt in any way. In the meantime, none of this matters until the stock reopens for trading.
It’s time for old Roger to face up and get busy before the law tracks him down for FRAUD…and shareholders just hang him…AWS has a vital product, produce it and sell it in discounted ways to gain sales volume
Editor: Here, here. Wish there was something to do here. My calls have gone unreturned to date.
Now, what do we do?! I see that the stock opened again for trading today..opened at $0.30 and it is now at $0.25. Cut the losses and exit? What do you think are the chances of showing the same YOY improvement by 1quarter 2006 vs 2005 as in the last year?
Editor: I’m not prepared to give an opinion as to what to do yet. I need to talk to the company and review the filings first. For the time being I am doing nothing.
thier back
Editor: No one told me to expect it. Here we go again.
Now that the stock is trading, albiet down to $.25, what are your thoughts?
Editor: You will find them in the current BLOG posting on the company.
Woupld please ask that you do your subscribers a favor and do the best you can to get some truthful information out of Roger the Dodger! I am probably a fool to not bail out and get a couple of grand back for my $10,000 investment but after dropping this much…what is another $2,500 just in case they actually are in the real business world at this point. Get us some information as soon as you can…. all of us lowly stock owners would appreciate it. Chris
Editor: If my calls don’t get returned, there’s not a lot I can do. Even if I knew exactly what was going on, I couldn’t share it with you. I’m sure there will be some sort of conference call soon.
Get any money back ASAP. Roger is a CON! He has taken over 7 mil from private investors from San Fran to Ensenada long before this scam. You can look up all of his California cases at the County Recorders Office. Roger is not even his real name! And he’s in on the scams with four other people including his wife and her 17 Akas. He has over 40 judgements in Ca alone. A few of them are over 2 mil. Good Luck!
Editor: I don’t know if any of this is true, but I do know the AMEX does a pretty thorough background check prior to granting a listing. Those comments aside, the numbers are pretty pathetic relative to what has been promised in the past. However, promises were made long before the listing problems and the stock being halted for trading, which I’m sure hurt elsewhere.
What happen for the otc stock holders when a company is relisted on the stock markets such as nasdaq? Thanks!
Editor: I haven’t looked at this one since the first of the year, but as it saw it -AMW was the walking dead. However, if it does find its way back to a higher listing, it will be good for investors.