Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Microcap & Penny Stocks : PLANET SPORTS!!! (fomerly TVSI * OTC BB) -- Ignore unavailable to you. Want to Upgrade?

To: RCJIII who wrote (204)	5/30/1998 7:38:00 PM
From: TopCat	Read Replies (1) \| Respond to of 277

Pugs, Since I know you are active on the threads, I wonder why you haven't answered RCJIII's question. Your original (and only) post regarding NIWOT comes from a news article dated November 1997......from that article, "Niwot which is owned by Planet Sports and whose directors include Kevin Furnary, Tom Raebe, and Fred Boethling. Niwot, managed by Tom Balcum, owns Boulder Designs, JRAT, Mountain Mend and Straight Up climbing holds. Furnary serves as the president of JRAT." That has been the basis of your hype since early May. First of all, it is not clear from the sentence above which company Raebe is a director on. That said, what do you think of the following news article from the same source? Is it good news or is it bad news. Regardless, why haven't you posted it in response to questions like those coming from RCJIII? This one is from January 1998. >>>Jinwong Partners Quest with Niwot Sports To Form Q Outdoors Following a number of unsuccessful attempts to sell the Quest license to recoup money lost as a result of the Chapter 7 filing by Moonstone Inc. (also known as Moonstone/Quest), Jinwoong opted to partner with Niwot Sports to form a new company, Q Outdoors, to market and expand the Quest product line. Niwot presently owns JRat, Bolder Designs and Mountain Mend warranty repair service; and Kevin Furnary is its president. "We will not receive any cash up front," says Jim McKelvey, senior vice president and CFO for Jinwoong, "but will instead be part owners in the new company and have certain rights each year to either take money out of the business or reinvest it into the company in exchange for an increased stock position. "It was very important to Jinwoong that we see the continuation of the Quest name and product line in the marketplace, and with the arrangement with Kevin Furnary and Niwot, that will happen," adds McKelvey. "If this works as well as we hope it will, there will be an IPO down the road for us and an increase in our stock and investment." Quest product is already on its way to the United States with Jinwoong gearing up to provide stock for retailers by January 15 for spring '98 orders. A second spring shipment is planned for the end of March shop delivery. Q Outdoors will be run by an owner-management team including Furnary as president, Tom Balkum (who also sits on the board of Niwot) as COO, John Andico (formerly national sales manager for Quest) as executive vice president of sales, Mary Hennsingsen (formerly operations manager for Quest) as operations manager, and Dave Whaley as controller. A CFO will be selected from a list that was being prepared by the management team as we went to press. Other former Quest/Moonstone reps and employees returning are Ted Fortuna, Peter Werbel and Jesse Guthrie. Furnary reports that they are moving the brand headquarters to Boulder, Colo., where they will market and expand all the Niwot trademarks under one roof. "An eventual merger of my company [Niwot] into Q Outdoors will occur, so all trademarks will be under the Q Outdoors label," says Furnary. While McKelvey acknowledged that merging the trademarks is a goal down the road, he stated firmly that any decision along those lines was up to the board and a step that was in the future. The board of directors that will be advising and overseeing the operations of Q Outdoors include: Furnary, McKelvey, Andico, Dick Holcombe, Ken Kurica, Wally Berg, TP Lee and Scott Reeves. "With the joining of the Jinwoong resources and Niwot Sports' innovative technologies, Q Outdoors will have a dynamic range of packs, tents, sleeping systems, hardgoods, technical apparel and accessories to serve all levels of retail distribution," says Furnary. "Our company will have the unique position of working like an independent that can effectively innovate for specialty retailers to help them stay in front of the competition, while having the resources and prices to competitively market to the big houses," adds Furnary.