ALL:
I just finished listening to the BCMD CC and it was very long indeed. Mr. Larry Stockett is an eloquent speaker and seems knows what he is talking about when it comes to business savvy. (Refer to his business plan at the following URL for his plans with Brush Creek: uscement.com ) From what I gathered after listening to Mr. Stockett is that NASDAQ forced him to call for a 10/1 reverse split Without the reverse, NASDAQ would have de-listed BCMD on Dec. 10. Mr. Stockett pleaded with the exchange for just 30 more days for him to make all the necessary business arrangements between McLaughlin Engineering & Mining, and Phoenix International, but the staff at NASDAQ said since BCMD had a history of being below a dollar for the past 100 consecutive days (bid price), the only way they would not delist BCMD is that BCMD must have a reverse split to bring up the bid price to a dollar or more.
From what I understood in so far as BCMD is concerned is that Mr. Stockett wants BCMD for its 42 million dollars carry forward tax loss, which he plainly stated to us all earlier and as well in his business plan, and that also Mr. Stockett is in affect creating a new “IPO” as he called it by bringing his company US Cement into the roof of BCMD, which I believe is worth 20 million (forgot the amount he stated). Also the equipment from Phoenix International (company located in India I believe) which add another 50 million dollars in assets, and McLaughlin Engineering & Mining will be another 15 million.
At the end of the CC, Mr. Stockett opened up for a Q/A session, in which only 3 questions were asked and answered due to the time frame.
1st question was about US Cement Business Plan, and here is where Mr. stockett basically repeated all his points in the plan as I mentioned earlier in referring to that URL address.
2nd question was from a long time investor with BCMD of 9 years, and he wanted to know where do we “BCMD” stand with NASDAQ? Mr. Stockett's answer was basically “well we are still trading with NASDAQ.”
3rd question was about the amount of the reverse split, why 10/1 instead of 4/1, etc.....but by this time my ears were burning from hanging on to that phone I had to hang up. Sorry!
Oh one last thing is that Mr. Stockett mentioned is that he firmly believes that BCMD will be a 100 dollar stock by next year.
That's all for now,
Frank
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