CDSI filed an 8-K today.
They have sold the remaining assets
of the cigarette vending route business. They
are now a fairly clean shell trading at cash value
($250,509 or .08/share, quote of .08 bid x .09 ask).
They are the 3rd lowest valued Shell Company on the
Profile List with 3,120,000 shares outstanding and a
float of 1,586,667 shares. The company has ties to New
Valley Corporation (NASDAQ:NVAL), an investment
banking and brokerage company. It is interesting that
Carl C. Icahn holds 5.5% of NVAL For more information
on the company and management, see CDSI.
shellstockreview.com
SYMBOL: CDSI and CDSIW (warrants)
Name: CDSI HOLDINGS INC
Shares Outstanding: 3,120,000 as of 06/30/2000
Share Float: 1,586,667
Cash on Hand: $250,509
Cash Per Share: 0.08
Total Debts:
Contact Name: Bryant Kirkland III
Contact Phone Number: 305-579-8000
Edior's note: CDSI officers Richard J. Lampen and
Bryant Kirkland III are also officers in New Valley
Corporation (NASDAQ: NVAL), which owns 48% of CDSI.
New Valley Corporation originally operated for many
years under the name "Western Union Corporation". New
Valley Corporation is engaged in the investment
banking and brokerage business through its ownership
of Ladenburg, Thalmann & Co. Inc., in real estate
development in Russia through BrookeMil Ltd., Western
Realty Development LLC and Western Realty Repin LLC.
They have about $100mil in annual revenues. Carl C.
Icahn holds 5.5% of NVAL.
10/19/2000 8-K:
- On October 5, 2000, Controlled Distribution Systems,
Inc. ("CDS"), a wholly-owned subsidiary of CDSI
Holdings Inc. (the "Company"), completed the sale to
Gutlove and Shirvint Inc. ("Gutlove") of the assets of
its cigarette vending route, including vending
machines and a van.
- The vending route constituted the only current source
of revenue for the Company. After giving effect to the
cash received from Gutlove on October 5, 2000, the
Company had cash and cash equivalents of approximately
$250,000. The Company intends to seek new
Internet-related or other business opportunities.
07/12/2000: I spoke to Bryant Kirkland. He would only
repeat what the press releases and SEC filings said.
03/30/2000 12/31/1999 10K:
-RICHARD J. LAMPEN, age 46, has served as President and
Chief Executive Officer of the Company since November
1998 and as a director of the Company since January
1997. Since October 1995, Mr. Lampen has been the
Executive Vice President of New Valley Corporation
("NVC"), a publicly held company principally engaged
in the investment banking and brokerage business, the
real estate business in Russia and investment in
Internet-related businesses. Since July 1996, he has
served as the Executive Vice President of NVC
affiliates, Brooke Group Ltd. ("Brooke"), a New York
Stock Exchange listed holding company, and BGLS Inc.,
a wholly-owned subsidiary of Brooke. From May 1992 to
September 1995, Mr. Lampen was a partner at Steel
Hector & Davis, a law firm located in Miami, Florida.
>From January 1991 to April 1992, Mr. Lampen was a
Managing Director at Salomon Brothers Inc, an
investment bank, and was an employee at Salomon
Brothers Inc from 1986 to April 1992. Mr. Lampen is a
director of NVC and PANACO INC., an independent oil
and gas exploration and production company. Mr. Lampen
has served as a director of a number of other
companies, including U.S. Can Corporation, The
International Bank of Miami, N.A. and Spec's Music
Inc., as well as a court-appointed independent
director of Trump Plaza Funding, Inc. Mr. Lampen
received a Bachelor of Arts degree from The Johns
Hopkins University in 1975 and received a Juris
Doctorate degree in 1978 from Columbia Law School
-J. BRYANT KIRKLAND III, age 34, has served as the
Company's Vice President, Chief Financial Officer,
Secretary and Treasurer since January 1998 and as a
director of the Company since November 1998. Mr.
Kirkland has served in various financial capacities
with NVC since November 1994 and since January 1998 as
the Vice President, Treasurer and Chief Financial
Officer of NVC. Mr. Kirkland received a Bachelor of
Science in Business Administration from the University
of North Carolina in May 1987.
- Redeemable Class A Warrants (the "Warrant") issued in
the IPO entitles the holder to purchase one share of
Common Stock at an initial exercise price of $6.10 at
any time through May 14, 2002. The Warrant exercise
price is subject to adjustment under certain
circumstances. The Warrants are subject to redemption
by the Company at $0.01 per Warrant at any time during
the Warrant exercise period if the closing bid price
of the Common Stock exceeds $9.625 for 20 consecutive
trading days. There were 2,322,500 Warrants
outstanding at December 31, 1999, of which 1,000,000
were held by New Valley.
NOT A RECOMMENDATION TO BUY OR SELL CDSI. I OWN SHARES IN CDSI. |
