According to the SEC documents Village III has 855,000 shares of which around 700,000 (give or take 50K) are owned by Jack Augsback and Associates. Village III is a vehicle put together by this group and they will hold a significant amount shares (escrowed until they perform) so I thought it would be a prudent move to do some digging.
First thing I dug up... from a clients site.
“Jack Augsback and Associates, Inc., now in their 20th year in business, is a specialist in the placement of equity and debt issues, mergers and acquisitions, asset management, and divestitures. The firm has a long and successful record in financing companies with a strong potential for continued growth.”
In October 1999 it was announced that founder Jack Augsback had assumed the position of chairman of the board and CEO of Jack Augsback & Associates Inc. I found another news blurb that named Mark Stys (on the board of Village III and Jack Augsback) as being named a partner and COO of Jack Augsback and Co dated August 30, 1999.
If you do various searches through 10KWizard, Northern Lights, etc. you will find a bunch of companies they have provided various investment banking services for. It appears that Jack Augsback and Associates closed the private placements or performed the services announced which is definitely a positive since they need to perform for CIBT to get their shares. I did various searches and could not find any incriminating documents (e.g Court Cases, SEC, etc.) naming the company or anyone associated with the company which is also a good thing.... I always like to make sure they have clean records. Of course Carlo Civelli is another story but he isn’t in this deal
Here is some of the deals I dug up-
Telecom Wireless: - In March 1999, Telecom Wireless entered into an agreement whereby Jack Augsback & Associates, Inc., West Palm Beach, Florida, agreed to research and find sources for Telecom Wireless' various needs of financing and to make introductions to persons capable of providing such financing to Telecom Wireless. Pursuant to that agreement, Augsback introduced Telecom Wireless to investors who purchased securities for net proceeds to Telecom Wireless aggregating approximately $3,868,745US.
American Millennium - On September 10, 1999, the Company accepted an investment memorandum prepared by Jack Augsback & Company for a private offering to be made in accordance with the exemption from registration under Regulation D, Rule 506 of the Securities Act of 1933. From a Ragging Bull post on March 16, 2000 -(http://www.ragingbull.altavista.com/mboard/boards.cgi?read=1410&board=AMCI)..
“More good news-Jack Augsback & Associates Inc. has once again been retained to provide financing to fund on-going implementation of this exciting business plan. Augsback & Associates was the firm that provided the funds to drive AMCI to this point and has an excellent reputation in helping developing companies.”
Redneck Foods – Bought seven corporate and 26 franchised barbecue restaurants (Woody’s) for $1.6 million in cash and approximately 1.3 million shares. The acquisition is being funded by a $3 million private placement that has been arranged through Jack Augsback & Associates. Woody’s is the fifth largest barbecue restaurant chain in the country.
Southland Financial, Inc. - Macquarie Bank Limited of Australia will advise Southland on its project to establish a $200 million international telecommunications gateway link into Hong Kong. Southland also announced today that it has closed on the final segment of its 504-D exemption and that the funds have been received. These funds will be utilized for ongoing working capital. Acting as financial consultant to Southland was the investment banking firm of Jack Augsback & Associates
SwiftyNet.com - emerging Internet company in Web development, announced that it has entered into an investment banking agreement with Jack Augsback and Company. Jack Augsback and Company expects to lead SwiftyNet.com into the new millennium. This alliance helps SwiftyNet.com explore strategic and corporate finance objectives with the goal of enhancing shareholder value. SwiftyNet.com, Inc. has been modeling its business strategy after companies like CMGI, Inc.
KIK Tire - April announced that it has signed an exclusive Corporate Finance/Agency Agreement with investment banking firm Jack Augsback & Associates, Inc. of West Palm Beach, Florida. The Company also maintains an office in Paris, France.
Belair Enterprises - Mr. Augsback has been a director of the Company since July 1999
President Telecom – Recently hired Jack Augsback & Assoicates as their investment bankers (from a Ragging Bull post haven’t confirmed).
Healthcomp Evaluation Service – November 23, 1999 – selected Jack Augsback and Company as it’s Investment Banker and Financial Consultant
It appears that Jack Augsback and Associates have a long history and a clean record. Nothing I found during my digging would make me object to having them come on board. |
