To: Janice Shell who wrote (55483) | 8/6/2005 10:06:02 PM | From: Tommy Hicks | | | I haven't thought about Gary Morgan or Roland Breton in awhile, but remember they were involved in Dynamic Imaging Group (DYIG) (which Riley bashed BTW). I did a little checking and found that DYIG later became Greentech USA Inc. (GTEI.OB).
finance.yahoo.com
I guess it comes as no surprise that GTEI hasn't done well.
"GREENTECH USA: Losses & Deficit Raise Going Concern Doubt --------------------------------------------------------- Greentech USA, Inc. (formerly Dynamic Imaging Group, Inc.) was incorporated under the laws of the State of Florida in January 1999. Through its wholly-owned subsidiary, Dynamic Imaging Group, Inc., a Colorado corporation, it is engaged in the sale and rental of portable show displays, accessories and graphics, all of which are used in the trade show and trade exhibition industry.
Greentech USA incurred net losses of $1,589,300 for the year ended December 31, 2003 as compared to a net loss of $1,205,749 for the year ended December 31, 2002. Since inception, the Company has incurred losses of $7,133,573. Its operations have been funded by the sale of common stock with gross proceeds of approximately $1,000,000 since inception. Additionally, Greentech signed convertible debentures and note agreements and borrowed approximately $ 2,000,000 from third parties and related parties. These funds were used for working capital and capital expenditures.
Management believes that there is sufficient liquidity to meet all of the Company's current cash requirements for the next twelve months through cost reductions and increased marketing efforts together with additional proceeds from common stock sales. A key element of its strategy is to evaluate opportunities to expand through acquisition of companies engaged in similar and related complementary businesses. Any additional acquisitions may require additional capital, although there can be no assurances that any acquisitions will be completed. Also, management believes that additional funding will be necessary to expand market share.
During the year ended December 31, 2003, operating cash requirement was $ 1,775,818, mainly attributable to the net loss of $ 1,589,300 mitigated by non-cash charges for depreciation of $29,065, beneficial interest on notes payable and Series A Preferred stock of $181,647, compensation related to the issuance of common stock for services rendered of $153,000, and other non cash items totaling $403,008.
The independent auditors for the Company have stated that the Company has experienced losses from operations totaling $7,133,573 since inception, has cash used in operations of $1,775,818 in 2003, and has a working capital deficiency of $814,143 at December 31, 2003. These matters raise substantial doubt about the Company's ability to continue as a going concern.
bankrupt.com
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To: Tommy Hicks who wrote (55484) | 8/6/2005 10:30:22 PM | From: Tommy Hicks | | | This may be old stuff to many but new to me.
"PROCEEDINGS INSTITUTED AGAINST GREENTECH USA, INC., INFORMATION ARCHITECTS CORPORATION AND TEKRON, INC. FOR FRAUDULENT FILINGS On February 11, the Commission instituted separate administrative proceedings pursuant to Section 12(j) of the Securities Exchange Act of 1934 (Exchange Act) against three issuers to determine whether it is necessary and appropriate for the protection of investors to suspend or revoke the registration of their securities. The proceedings are against the following issuers: * Greentech USA, Inc. of Fort Lauderdale, Florida
* Information Architects Corporation of Fort Lauderdale, Florida
sec.gov
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To: Tommy Hicks who wrote (55485) | 8/6/2005 10:35:12 PM | From: Tommy Hicks | | | February 10 2005
The Securities and Exchange Commission has suspended trading in securities of Greentech USA, Inc. (OTCBB: GTEI), Information Architects Corporation (OTCBB: IACH) and Tekron, Inc. (OTCBB: TKRN), citing concerns about recent disclosures by the three companies. The trading suspensions, which became effective on February 10, 2005, will continue for ten days, ending at 11:59 p.m. EST on Feb. 24, 2005.
In issuing the suspensions, the SEC said that questions had been raised regarding (i) the authenticity of the Report of Independent Certified Public Accountants included in the most recent Forms 10-KSB filed by Greentech, Information Architects and Tekron, including whether the audit reports accompanying the financial statements were prepared and issued by the named auditors; and (ii) the accuracy of statements made by each of the companies in amended Forms 10-KSB/A for the year ended Dec. 31, 2003, including statements by Greentech and Information Architects that a second review of their financial statements was being performed by the auditors.
Each of the three companies has indicated that its financial statements were audited by the firm of Russell & Adkins of Oklahoma City, Oklahoma. That is not all Greentech and Information Architects have in common. Both of those companies list the same business address – 6500 NW 15th Avenue, Suite 300, Fort Lauderdale, Florida and the same telephone number, 954-545-8181. They also appear to share a director, Alfred Tracy III.
Now they have a common problem as well.
stockpatrol.com
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To: Tommy Hicks who wrote (55486) | 8/6/2005 10:50:41 PM | From: Tommy Hicks | | | Yes, Greentech filed for bankruptcy.
"From the June 10, 2005 print edition Greentech USA seeing mostly red, files Chapter 11 Ed Duggan
Fort Lauderdale-based Greentech USA filed for Chapter 11 bankruptcy reorganization after revocation of its securities registration and an eviction notice from its landlord.
Greentech USA defaulted on a settlement agreement in which it was to have restated certain filings, brought others up to date and have them audited, the SEC's May 27 revocation order said. Greentech USA was organized in 1999 and changed its name from Dynamic Imaging Group in 2003.
According to its latest SEC 10Q filing, there were 9.52 million common shares outstanding on Sept. 30. It last traded at 55 cents a share before the SEC halted trading in February.
In September, Greentech reported losses of nearly $6.8 million since its inception and said it had unpaid payroll taxes.
The mini-conglomerate's (OTC BB: GTEIQ) SEC filings said it had operating divisions or subsidiaries in trade-show displays, screen-printing and Wi-Fi systems, in addition to owning a patent in connection with a manufacturer of modular plastic housing.
In 2004, Greentech USA reported three acquisitions:
* The modular plastic housing patent from Housing Innovations for $1 million, payable in $50,000 cash with the balance in 23,750 Series C preferred shares * Sterling Fine Arts, a printing company, for $1 million, payable in 80,000 shares of Series C preferred stock and the assumption of $200,000 in debt * Broadband Oasis, a Wi-Fi company formerly based in Boca Raton, for $500,000 payable in 12,500 shares of Series C preferred stock
Each share of the Series C preferred stock was convertible into 10 shares of common stock, according to Greentech's SEC filings.
The SEC temporarily suspended trading of Greentech USA's stock on Feb. 10 and instituted proceedings for allegedly fraudulent filings, "due to questions regarding the authenticity of the auditor's report in the registrant's most recently filed Forms 10-KSB and whether the audit report accompanying the financial statements was prepared and issued by the auditors identified."
The company had said it was audited by Russell & Adkins of Oklahoma City.
In its May 27 order revoking registration of Greentech USA's securities by default, the SEC said Greentech's 2003 annual report contained "an auditors' report not prepared or issued by the auditors identified."
"Greentech's three most recent quarterly reports filed with the Commission contain a balance sheet comparing the current quarter with the year ended December 31, 2003, and designating the period as 'audited' when in fact it was not," the SEC said.
Roland L. Breton, 56, chairman, CEO, president and principal accounting officer of Greentech USA, did not return numerous calls and messages from The Business Journal requesting comment and explanation.
Similar false auditing charges and a stock trading suspension by the SEC were also leveled on Feb. 11 against Information Architects (OTC BB: IACH), a company that is controlled by Perceptre, which is owned by Greentech USA, according to previous Greentech USA SEC filings.
Greentech USA and Information Architects, a North Carolina-registered corporation, share the same local address.
While Perceptre, a New Mexico corporation, is not registered with the State Corporation Commission to do business in Florida, Information Architects has that registration.
Information Architects said in an April 15 SEC filing that it had reached a tentative written agreement regarding settlement with the SEC, requiring it to file certain amended reports as well as other timely reports in order to have the administrative proceedings dismissed.
The filing was signed by William Overhulser, Information Architects' interim CEO, interim CFO and interim principal financial officer. In a June 1 SEC filing, his title was COO. Overhulser did not return calls seeking comment.
The Greentech USA bankruptcy filing also has problems. The U.S. Bankruptcy Court for the Southern District of Florida issued a deficiency order for incomplete filings. The court said the case would be dismissed if a June 8 deadline wasn't met.
Fort Lauderdale attorney Thomas L. Abrams, who represents Greentech USA in its bankruptcy filing, said he had applied for an extension.
"Granting an extension is usually pretty pro-forma when there are landlord/tenant problems and the company is still in the premises," he said.
E-mail technology writer Ed Duggan at eduggan@bizjournals.com.
southflorida.bizjournals.com
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To: Tommy Hicks who wrote (55486) | 8/8/2005 11:30:42 AM | From: tonto | | | Correct. I was there. I never posted the photo of tonto in front of the business...of course, I wore a paper bag over my face with tonto written on it to protect my identity...(s) |
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To: Janice Shell who wrote (55483) | 8/8/2005 7:37:51 PM | From: Tom C | | | I wonder why as well. I was outraged that the Nasdaq let them start up another company.
Not to be stickler but NASDAQ is a Stock Market, regulated by the NASD. It’s a separate company. It’s unlike the NYSE which is a Stock Exchange. A Stock Exchange is an SRO (Self-Regulatory Organization) a Stock Market is not.
I think your beef is with the regulators of the NASDAQ, which are the NASD and the SEC. |
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To: Riley_G-NYC who wrote (55478) | 8/9/2005 4:25:27 AM | From: Bill Ulrich | | | Glad to hear of your movie success. I knew that it was your silhouette I saw, just peeking out from behind the shadow of one of the *credited* extras I saw in a film last week. Surely, with some talent and initiative ... who knows, in 5-10 years, they'll let you hold the clapper or fetch iced beverages for the hairdresser's assistant. |
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To: Tommy Hicks who wrote (55486) | 8/9/2005 5:47:10 PM | From: Riley_G-NYC | | | BW)(FL-DYNAMIC-IMAGING-GROUP)(DYIG) Dynamic Imaging Group, Inc. Announces 1:25 Reverse Stock Split
Business Editors/High-Tech Writers
FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Oct. 13, 2003--Dynamic Imaging Group, Inc. (OTCBB:DYIG) of Fort Lauderdale, Florida announced today that it has completed a 1:25 reverse stock split for shareholders of record on October 10, 2003, and will begin trading on a post split basis at the end of business on October 14, 2003. Dynamic Imaging Group, Inc. is a publicly traded company comprised of four wholly owned subsidiaries: Digi Displays - a national provider of Trade Show Displays, Large Format Graphics and Visual Sales Products; Digi eSolutions, which provides a full range of information technology solutions from web-based applications and database development to hardware/network support; 21st Century Productions - a trade show production company, and Florida Motor Corp. - an automobile assembly and small parts manufacturer. DIGI is headquartered in Fort Lauderdale, Florida and is publicly traded on the OTC:BB exchange (OTCBB:DYIG).
The information contained in this press release included forward-looking statements usually containing the words "estimate," "anticipate," "believe," "expect," or similar expressions that involve risks and uncertainties. These risks and uncertainties include the Company's status as a startup company with uncertain profitability, need for significant capital, uncertainty concerning market acceptance of its products, competition, limited service and manufacturing facilities, dependence on technological developments and protection of its intellectual property. The Company's actual results could differ materially from those discussed herein. Factors that could cause or contribute to such differences are discussed more fully in the "Risk Factors," "Management Discussion and Analysis or Plan of Operation," and other sections of the Company's Form 10-KSB and other publicly available information regarding the Company on file with the Securities and Exchange Commission.
--30--CP/mi*
CONTACT: Dynamic Imaging Group, Inc., Fort Lauderdale Roland Breton, 954/545-8181 rbreton@digiusa.net
KEYWORD: FLORIDA INDUSTRY KEYWORD: ADVERTISING/MARKETING MANUFACTURING NETWORKING SOFTWARE HARDWARE SOURCE: Dynamic Imaging Group, Inc. |
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To: Bill Ulrich who wrote (55490) | 8/11/2005 3:15:26 PM | From: Riley_G-NYC | | | Here it is, after much hoopla -- The STAY movie trailer. I have a supporting role in the film as “Officer # 1” and fellow PoliceActors.com members, Vito Violante plays “Officer #2”, and Mike Devine , the “Security Guard”…
ifilm.com
Stay - IFILM Exclusive: World Premiere of Trailer (2005) A reality-bending thriller about a psychologist whose suicidal client makes bizarre predictions that to the psychologist's mounting terror, begin to come true. (1 min 55 sec) |
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