Sergio,I will try to set up a portfolio(I have really just been keeping an eye on them),I can't use DBC because it gets tied into my personal portfolios automatically-so I'm open to suggestions on another site which will give us quotes on BB's.I'll check StockSmart,problem is I have portfolio's there as well<g> and everything gets tied together,I guess because of cookies?)So far, with the exception of REDI the picks,have generally slowly dropped in price,and the following day seems to trend lower(general description),I have noticed GLOW recovering some, as well as EXTI after losing some of their gains after the big day.
As far as KRHC,there is a heck of a lot on their web page,
richcoastinc.com , filings can be found on free edgar.
I spoke to Dave Parfett at investor relations today 1-800-435-4933.
He was in Vancouver,the company is in Michigan ,basically Detriot (the motor city<vbg>),but didn't think to question him about it or the firm.(mistake). He informed me there were approximately 18M shares outstanding,and 12-13M in the float. There are approximately 5000 shareholders,one family who owns 700,000 purchased @ $3.00/sh and they have and will continue to hold strong,management owns around 4M. He had just received the records from the DTC(?) so he had all the shareholder info in front of him,I didn't press him any more in this area. As you may or not be aware of they bought for $2.25M a 17 acre facility which used to be owned by Mobil oil,so as you can imagine it is suited ideally for their business model. The infrastructure of this facility is what you would expected Mobil to have had in place(very impressive and a pipeline to the Detroit river,where they have plans to build a pumping facility--read the report I posted earlier).
They still have their old facilities(1/4 mile away from the new),last year there was a fire in the loading area,which limited their production(yet still posted a profit for the quarter). The building has been under repair,and they have filed a claim (10Q mentioned $700K+) to their insurance company,who "will pay" and are meeting the appraiser in a couple of days,and they will know the amount to be received. They have decided that since the building now "has a new coat of paint" they plan to sell it,appearently they are in a very desirable industrial area and should get a premium price.Then continue to move everything to the new facilities.
Now as I mentioned the company is a Nasdaq listed company and we all know about the upcoming min. requirements. The company has to maintain a price of +$1.00 for the 10days prior to May 31. to keep their listing.The company has sent out a proxy requesting a vote for among other things a reverse split.
"February 23, 1998
To the Shareholders of Rich Coast Inc.:
The 1998 Annual Meeting of Shareholders (the "Meeting") of Rich Coast Inc.(the "Company") will be held at the offices of the Company's counsel, Key & Mehringer, P.C., 555 Seventeenth Street, Suite 3405, Denver, Colorado 80202,on Tuesday, March 31, 1998, at 10:00 a.m., to consider and act upon the following matters:
1. Election of five directors to terms expiring at the next annual meeting.
2. A proposal to amend Article FOURTH of the Company's certificate ofIncorporation to effect a reverse stock split of the Company's Common Stock of up to one-for-ten shares, at the discretion of the Board of Directors.
3. Approval of the 1997 Stock Option and Stock Bonus Plan, pursuant to which 4,500,000 shares of Common Stock are reserved for issuance as bonuses or upon exercise of stock options which may be granted to employees, officers or directors of, and consultants and advisers to, the Company; and
4. A proposal to change the state of incorporation of the Company fromDelaware to Nevada. The transaction of such other business as may properly come before the Meeting or any adjournments thereof will be considered and acted upon. The Board of Directors is not aware of any other business to come before the Meeting. Pursuant to Bylaws, the Board of Directors has fixed the close of business on January 30, 1998, as the record date for determination of the shareholders entitled to vote at the Meeting and any adjournments thereof."
Obviously this stuck out like a sore thumb(and I pressured him), the above was the short version. In effect what they will do is split if needed and if it is needed to meet the $1.00 requirement,it would be on an as needed basis,for instance today the price is around.65,thus we would need a 1:2 split to meet the requirements.
Thats about all the extra's I found out today,may speak with him again tomorrow,after I've absorbed what I found out already<g>..
You've mentioned I really follow the companies I own stock(true),but I tend to do my best DD after I have already bought,which obviously isn't the proper order<vbg>,but IMO with the help of Ken W.,we stumbled into a very promising little stock-hell we may have to buy uniforms from LAKE <free plug><lol> DD (I'm out of breath-best I can do)
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