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| Oct 17th 2007, 16:13 Bogart Beck |
SLMS Recapitalized as Bo Beck Group (BBX)
Edited by author Oct 17th 2007, 16:17 |
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| Oct 15th, 19:58 Bo Beck (as Posted by Arbitrage Wise) SLMS Recapitalized as Bo Beck Group (BBX) - to begin trading at 6PM October 15/2007 - 5:30PM SLT To whom it may Concern: On behalf of the SL Capital Exchange Board of Directors I am pleased to report that the long awaited resolution for SLMS has arrived. Foremost I'd like to apologize to those SLMS shareholders who have waited patiently with little information forthcoming from the Exchange. This past month has been a challenging adventure for all of us - so let's get THIS ONE in the rearview mirror. I will caution up front that the mechanics of this particular restructure are somewhat complex and has thus taken the better part of ten days to accomplish. Ultimately, to make a very long story short, here's what we've accomplished. Effective at 6PM SLT this evening the former SLMS will resume trading as BBX - Bo Beck Group. This has been accomplished by MERGING the assets of two Privately Funded entities (Bo Beck Galleries - a retail Art Gallery you may be familiar with, and the Bo Beck Index - a private stock fund) into the vacant shell of SLMS after having succesfully liquidated the remaining assets of Fresh Babenco. The Surviving entity is Bo Beck Group (BBX). A NEWLY FORMED Board of Directors met this morning and have ratified this recapitalization plan unanimously. Additionally the Board unanimously appointed myself as Chairman and Chief Executive of the BBX. Effective immediately the Board of BBX is as follows; Bogart Beck - Chairman, CEO Travis Ristow - Outside Director Kubi Beam - Outside Director The remaining Executive Team will be named shortly. So... how did we accomplish this? Foremost, I'd like to thank Arbitrage Wise, Chairman of SL Capital Exchange (and my boss), for allowing me to liquidate a portion of my CapEx portfolio over the last Ten Days - without his total and extraordinairre cooperation, this progressive plan could not have been accomplished. For DISCLOSURE PURPOSES, I have sold at market approximately 1.7M shares of my personal holdings of SLCX over a period of ten days beginning October 4th and ending October 14th at prices ranging from $.29 to $.35 Lindens per share. A majority of the proceeds of which I have reallocated for purposes of this new venture. The New Capital Structure is as follows; Assets held in Bogart Becks BBX INDEX FUND SUB-ACCOUNT @ 12:01AM SLT 10/15/2007 Ticker Company Name Sh/Units Total Value Per Share DGD Dragon Global Diversified 1,800 4,374.00 2.43 HBK [ hoorenbeek ] 3,000 3,150.00 1.05 INC Innovative Inc. 4,000 3,800.00 0.95 ITA WNB Italian Lands 4,200 4,326.00 1.03 JTIC JT Investment Certificates 6,500 6,760.00 1.04 KDC Karlfeldt & Delgado Capital 4,600 3,312.00 0.72 LNL L&L Bank and Trust 5,000 3,300.00 0.66 MECH Riot Mechs 3,100 3,100.00 1.00 NDX Innovative Index Fund 2,600 3,900.00 1.50 SLCX SL CapEx 300,000 93,000.00 0.31 SLR SL Reports 4,000 2,840.00 0.71 SLTM SL Tronics Media 1,000 2,700.00 2.70 TNW Tnw Designs and Real Estate 2,000 2,580.00 1.29 VBL Verballis 1,750 5,145.00 2.94 XXX Tropical Temptations 1,000 1,860.00 1.86 YEP Yellow Paperclip Corp 3,000 4,530.00 1.51 ZEN Zhenya Zoning Real Estate Co 2,300 2,116.00 0.92 BBX STOCK CONTRIBUTION 349,850 150,793.00 0.43 BBX CASH CONTIBUTION 100,000.00 Proceeds of Fresh Babenco / SLMS Seizures FRESH BABENCO MAIN (Cash) 2,998.66 NDX FRESH NDX SHARES 1,653 2,479.50 1.50 LNL FRESH LNL SHARES 1,000 660.00 0.66 +++ SUBTOTAL 256,931.16 BBG ASSET VALUATION* (Min. Req'd.) 326,068.84 (For COMPARATIVE PURPOSES) >>>> GRAND TOTAL 1,100,000 583,000.00 0.53 PRICE WHEN HALTED SLMS FRESH SLMS SHARES 602,695 319,428.35 0.53 SLMS FLUTTER SLMS ACCT 19 10.07 0.53 SLMS SLMS SUB-ACCT SLMS 10 5.30 0.53 TOTAL FRESH BABENCO SLMS SHARES = 54.80% Kubi Beam 128,225 67,959.25 0.53 1.70% Silverblade Dagger 57,623 30,540.19 0.53 5.20% Other shareholders 311,428 165,056.84 0.53 28.30% >>>> TOTAL SHARES(SLMS SHELL) 1,100,000 583,000.00 0.53 100% RECAPITALIZATION PLAN: MERGE Privately Held BBX into SLMS RENAME SLMS to Bo Beck Group (BBX) APPROVE STOCK SPLIT and Additional Paid-In-Capital Authorized and Issued: 2,000,000 Shares @ $.75 L Per Share Unrestricted BBG Tangible Assets (ADDITTIONAL ASSETS TO BE ADDED) 8192 sq/M @ JT WORLD II 8,192 63,075.12 7.70 $sq/M Reuters 4096 sq/M @ JT WORLD II 4,096 31,537.56 7.70 $sq/M Reuters 485 BBG Hi-Quality Photo's 485 130,465.00 269.00 $1 US Per Pic (269:1) ACE KLMU (BBG Galleries x2) 2 1,980.00 990.00 MIDTOWN - Santa Maria Tower 1 5,500.00 5,500.00 MIDTOWN -1440 Wilshire 1 4,750.00 4,750.00 MIDTOWN - Vertilus 1 1,000.00 1,000.00 BLIP - st001 store - (deco) 1 400.00 400.00 BLIP - st102 store - (deco) 1 550.00 550.00 Split Script Original Source Lic 1 600.00 600.00 Miscellaneous Furniture&Fixtures 1 3,370.00 3,370.00 BBG Intangible Assets* (IP Valuation) Derivative/Residual Script(Dvp.) 750,000.00 750,000.00 BBG Chromatique™ Photo Process 250,000.00 250,000.00 BBG ASSET VALUATION * (Actual) 1,243,227.68 +++ Plus SUBTOTAL (see above) 256,931.16 RECAPITALIZATION GRAND TOTAL 1,500,158.84 $0.75L OPENING SHARE PRICE AT CONVERSION Well... there you have it... I will publich a Formal Operating Plan no later than 11/01/2007... we will be primarily working through the remaining formation requirements in the interim and will report a SHORT MONTH's result for October. Previous SLMS shareholders should recognize an IMMEDIATE 30% premium in their BBX share valuation versus the day SLMS was halted. I pray this was worth the wait. Blessings, Bogart Beck CEO, CapEx Chairman, Ceo Bo Beck Group ----------------------------------------------------------- Oct 15th, 22:18 Rexx4814 Beck Re: SLMS Recapitalized as Bo Beck Group I am grateful Bo that you have done this and for Arb too. This is about saving small investors (at least in part anyway) and I applaud the efforts that are being made. Hey I was wrong about what you guys were doing and I apologize. Now hopefully together we can make this thing a solid trustworthy company that ALL can be proud of and of course profit from. Yesterday, 19:00 Stroh Bing Re: SLMS Recapitalized as Bo Beck Group And to think two days ago I wanted to give these shares away... I think this one is a keeper now... Kudo's to Bogart for a Good plan and an Excellent Execution Oh yeah congrats on your instant IPO. Rexx4814 Beck Full Support As a shareholder in SLMS I fully support the placement of SLMS in receivership with Bo as trustee. I will fully support all efforts to recapitalize the company. I feel this is a very positive thing for the company and all it's shareholders. Thanks to Bo for taking this up. And to Arb and the rest of the exchange. Oct 14th, 22:27 Nasty Seaton Re: Full Support hi rexx, can you explain what receivership means? I gave fresh 8000 for a campaign to advertise my art gallery, no sign till now, and I am not sure what is happening.tx. Oct 15th, 02:03 Silverblade Dagger Re: Full Support From my own personal experience... I invested some money in a RL company that ended up being investigated by the SEC and then moved into receivership. From what I know, it means that all the available records and funds are investigated and thoroughly filtered through and whatever funds remains are then divided among all non-directly related investors. Usually, a court will assign someone to investigate all the records, and as is the case with my RL investment, costs of such an investigation are actually deducted from the funds of the frozen company under scrutiny. The real life form of this can take years to finish and can only recover a portion, usually puny, of investors initial investment. (Example) So if Fresh had L$3,000 in his JTF account, and nothing else, all 3K is going to be split in the appropriate amounts among everyone who had shares. So if the value of all the shares were more than 3K, a lot of people are going to get a mere fraction of what they put in. As for your L$8,000 you gave to Fresh, you are gonna have to hunt him down about that. It doesn't really relate to JTF/CapEx, so you can't get too much help here about that. If you get nothing from Fresh, I think it's safe to assume it's a loss. I used 3k as an example, since I don't know what Fresh or his alts had in his account on JTF. I'm assuming that Allenvest has a large chunk of funds of Fresh's, and I don't know if that has been turned over to CapEx or not, but that and the bank funds might get shareholders a chunk of their funds back. I trust Bogart and crew to do the job well. Honoris Causa... Silverblade Dagger Oct 15th, 05:21 Dezmond Martinek Re: Full Support Recievership entails siezing the assets of an individual or company. The assets are not usually liquidated and distributed that would be bankruptsy, however liquidation of some or all assets is possible under recievership. Recievership is used by the government to take over state agencies that are failing to meet federal guidelines to put them back on track. Recievership is used in the private sector to assure that a business is running properly and that payments to creditors are being distributed. I believe in this case it means the assets will be taken and utilized to make the company profitable again. As no one is telling anyone what assets are being siezed and how they will be used to accomplish this the rest is speculation. Today, 16:10 Avanti Palmer Re: SLMS Recapitalized as Bo Beck Group Kudo's to Bogart Excellent Execution |
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