SWKJ.OB – is no longer valid. It has changed to SBDNE.OB

[wrangler]

WOW 8,000,000 shares traded in the first hour. Low @.53 and high @.64 and was @.58 at end of first hour. Looking good for the first hour of trading. Market makers didn't bring price back down much, Good sign it's going to hold at this level and possibly make new highs before day is done.
Good luck trading

[wrangler]

Could this be a run up? Looking at the MACD at bottom of the chart the black line is about ready to go above the MA blue line which is a bullish signal that stock is ready to move up. When trading using this method it is suggested to wait 2 or 3 days to see if it keeps moving higher. Sometimes it can be a fake run up and within 2 or 3 days it will drop back below blue line. If it doesn't that would create a buy signal. It also looks like it's showing a falling wedge reverse which is a bullish signal. As always use you're own TA and have a trading plan to go by.
Goodluck trading to all

[wrangler]

Decided to sell all shares this morning for a small gain. Stock price acting to funny compared to last trading session. Two things I have noticed that put me on high alert.
1 When I brought up stock symbol this morning it had a fifth letter added to it. The fifth letter was E that means they have had previous trouble with SEC filings or bankrupt.
2 I brought up stock on Yahoo finance about 10 minutes ago and their was no headline news on SWKJ this really put high alert in my decision to sell.
I have read from many books on trading to never buy stocks with a fifth symbol till you find out what it means. And this one was enough to make my decision.
Goodluck trading to all

[andyman]

Hi wrangler,

concerning the "E", SWKJ had some trouble with the filing, but it was cleared. SWKJ where on the list for not matching their obligations but has been removed.

The NT10Q was filed on 17th and one week later(on Monday afternoon) the 10QSB has been filed. Either it was the last moment or there was some misunderstanding with/in the SEC filing department. Most properly it was their deadline but it has been revoked and is not valid anymore.

As slomo already mentioned, Nurse is (at the moment) not focusing his attention on everything related to the shareholders. In fact it is a little annoying for us, but we should have some patience if we want to join the harvest.
Just imagine, such a small team get in such short time this volume on contracts! They are absolutely busy with arrangements and other stuff. In all my projects where I have been in, the first weeks/month has been the most terrible ones.

I guess, things must be down under in his office.   
So it does not wonder me if he has less time for filing. However, I agree with the time it filings and investor attentions should improve.

andyman

[wrangler]

Thanks andyman for the info.
I have already sold when my sell alerts went in when I seen all this and done bought shares in another stock that looks very good.Terlisa had it in the chart dump forum. You might want to check it out if you're looking to buy.  IES

[setravis]

Thanks andyman for the info.
I have already sold when my sell alerts went in when I seen all this and done bought shares in another stock that looks very good.Terlisa had it in the chart dump forum. You might want to check it out if you're looking to buy. IES

Got a thread on IES...Stock Picking Board.....
http://www.3stocksonfire.org/trading/index.php?topic=3754.0

[andyman]

Hi slomo,

you'r on the wach? Market is very dry and sensitive on the bid. I got it managed to get the price down to 0.05 today. 

That was strategy. I almost closed the gap and got also a few ceap shares.

Will see if i can manage the 0.048, and than it can go to north. 

regards andyman

[andyman]

Huiiii what for a day today...

just cracked the 0.049 so the gap is almost filled. However, some gaps getting never filled and
I observed that often only with 0.63...0.67 - that smells very strong after Fibonacci 


For all who are jittering - don't worry. I will stop my bottom fishing spree soon. 

andyman

[slomo007]

andyman, I am now on the sidelines but looking to possibly get back in.  The last 10q stated an agreement with Cornell Capital for an equity credit line as of early May.  This made me sell. 

Apparently Nurse has stated (in an email to other shareholders) that the agreement is not accurate and that it was mistakenly put in the 10q.  It makes sense that there is NOT an agreement, as they now have Knightsbridge to finance the company, unlike in May when the supposed agreement took place.  I understand this, and actually don't even think the company needs or will use the agreement, but just the thought that they might have an agreement scares daytraders away like the black plague. 

I am watching it closely and am awaiting a response from Cornell regarding if they have an agreement with SWKJ or not.  If they do not, I will get back in.  If they do, I will likely stay out. 

Couple the possible Cornell agreement with the very positive news and still poor PPS and I am suspicious that Cornell is the group selling shares on all of these spikes and therefore keeping the PPS down and keeping daytraders nervous to buy in. 

[andyman]

Hi slomo,

I reviewed various scenarios. I decided to stay in, as I have the capacity to do so. Many of the People on RB, WO and other boards are in truth "critically invested". That's the reason that they are pumping, bashing or crying around.

Concerning the credit line, it confused me also for a while. However, I assume that the Cornwell credit line is intent to cover any upcoming US project, if lucky. All the Knightsbridge arrangements are locked to the Asia Projects!

Thailand has a tight regulated monetary system. Companies cannot so easy offer US/European assets as a collateral. In case of default it is good to have a claim in your hand but it is bad if the collateral is not in the area of your jurisdiction. That's the reason that many governments (especially 3rd world and Asian) protect themselves in their projects with the requirement to obtain the credit line from a local relationship. In this case the interest will work in their favor and the deal stays in their country.
As Siteworks has not much on real assets to offer as a security (except to issue millions of shares) teaming up with a local credit line provider is the best option, and may have been a base requirement from the Thailand government. As I already said, I know Thailand is very restrictive in this regard. 

So, for me it makes no sense except that Nurse like to have something like a little Joker in the sleeve in case that a nice US project is popping up and need a little cash before he earned this in Thailand. Also, he does not need to run after a credit line provider in such a moment. As you know, if you are in need, you will not get a good offer. Especially at a time of increasing interest rates. 

BUT, that does not mean that I am a headless dreamer.

I have a few different questions too. For me the contractual configuration is not very clear. Little has been said about the risk distribution and the compensation for that. In truth, nothing is transparent there! I am also not sure if the money earned really finds the way in to the US (where it will be taxed if it is real profit). That has to be proven now! Earlier I mentioned already that I like to know the sharing conditions between Siteworks and Prestige Asia. Of course, that will be confidential. 
 
The reason that I am not bailing out (after having more than 12 years of project management and coordination in the Arabic/Asian region on my shoulder) is that according to my feeling (experience) the value of this projects exceeded clearly the threshold of the "sandpit". In Persia/Asia the face value is unequal important as in the western world (especially US). In US a failure today is bad luck (as long you have done nothing criminal). Tomorrow you may have another chance. In Asia you will not sign another contract of X million, if the previous failed. So, once married you will find some ways to solve things, at least on the beginning. Double digit million projects are a perfect glue.
The private interest involved in projects of such scale in the Arabic/Asian area (BELIVE ME!) are the biggest driving forces in such relationships. Again we are not talking about a few ten thousand $!

This will be reflected in the share price as fluctuation. Generally seen, and that is the problem of the crying folks at the boards, SWKJ is (hopefully) in the transition phase of a low asset BB company where the share price moves on PR and chart technique to a solid based company where the price reflects more the asset value and earnings.
So, SWKJ behaves neither this nor that. Every big company had to go trough this transition phase and there is no guarantee for success. Take highfliers like Microsoft, Apple or what else. Their transition took also years!

It is absolute unrealistic to believe that SWKJ shares, after signing some good contracts, constantly raising and then staying at elevated level stiff like a board.
For that, the real! long term investors are missing, which absorbing the mass of the market cap and do not move them at daily basis.

Generally SWKJ is on a impressive move (development) but as already said there is no guarantee of final success. If SWKJ locks the first real profit and aggressive small cap funds starting to get interested about, that is the moment the share price will slowly calm at a elevated level. But this will take a while and everyone who likes to get involved on the long should consider this.

The one who has the capacities and can manage the risk don't need to cry, and the one who cannot bear the tensions and has to fear significant loss should stay away.
       

[slomo007]

I agree with many parts of what you said andyman.  I am awaiting more information, particularly regarding Cornell and the credit line.  Cornell is notorious in penny-land for driving a company's stock price to the ground.  Whether or not this is actually true, I have no real idea as the sample size I'm working with is small...but, in pennies all that matters is emotions, and emotions about Cornell are extremely negative. 

If we get some clarification that they are not in the picture, then I will be thrilled to buy back in again at these prices.  Perhaps you are right and the Cornell agreement is for any potential US based projects.  That would make sense...but regarding this brings me to my next red flag.  Why hasn't SWKJ been able to get any hurricane reconstruction work?  This makes no sense, as FEMA (the US Governmental agency which distributes the contracts) has given preference to minority-owned businesses (which Siteworks is) and they have had 3 severe hurricanes in the Gulf this year. With many Florida contractors getting contracts, why hasn't SWKJ been involved?  Perhaps their hands are too full in Asia, that is my only logical guess.  Regardless it does make me somewhat nervous.

Overall I still like the company, I'm definitely not trying to be a basher.  At this point, (and I was someone who had WAY too much of my portfolio in it) I felt like it was time to get out of it for a little while and hope for the PPS to stabilize a bit, and hope for clarification regarding the contracts and Cornell.  Just felt like it was time, my stomach was telling me to leave. 

It remains perhaps the most fundamentally undervalued stock I've ever seen though, well, assuming the fundamentals we are hearing about will actually be translated to the financial statements next year.  That probably isn't safe to take as a fact, but even if they book only 25% of the stated revenues the stock would still be undervalued.  The upside here is huge, but for now I'm going to do some more DD while I'm not invested.

[andyman]

Slomo,

Please don't understand me wrong, I do not want to blame you in any way.   
As you took a little scoop more of SWKJ as usual (as I may too) it was fully your decision. What I appreciate on you is, you wend in and out based on your collection of facts. Not whining around and being aggressive to other opinions because you are stuck in a position who does not behave as you want. That's the right way.

Concerning Cornell, I am not fully up to date about their track record in the past. However, credit line providers are no Samaritans, that's clear. I an not in the picture of the business model of Cornell. If they are a "easy credit" provider then it's concerning.
In this regard, I am not fulltime in the market. I have the advantage that during the US daytime its evening here. So I can use some of my free time.

You are fully correct concerning the hurricane projects. I had the same thoughts. But then I comprehend what will be possible for a tree to five person management team to arrange in such a time. So, I recaptured some experiences eight years back when we (my company in which I am working) got one almost 200 mill.$ project and it was clear for me there was no time for Nurse to think on a second line.
Even as the FEMA has given preference to minority-owned businesses they will not come to your home and ask kindly if you may in need of some (projects).  You have to join like all the pre-qualification procedure. Than you will bid for some specific objects where you at the end may get one (or two). That requires someone to follow up, writing the offer and and and...
However, if you look at the calendar, that was the time Nurse has been busy in Thailand.
I think it was just bad luck in timing. He had to make a decision, either hurricane or Thailand. Both together will fail. (system overload  ) 

Again I am with you, I would feel also a little easier if SWKJ would have some jobs at the mainland. That would bring some stability and have a positive effect on the 10Q as the already above stated income flow from Asia is not really clear and payment procedures at Asian governments are sometimes a little "comprehensive" (just to say it nice  ). So, some month "travel time" for the cash is nothing unusual.

Again, your DD is very appreciated. I may tattle out of my Arabic/Asian project experiences. 

andyman

[andyman]

Slomo,

Figured out the possible problem with Cornell.

The Cornell arrangement is dated May 12, so it should have been in the previous 10Q as you already mentioned.
In order to check this carefully I copied the section 1 of both 10Q reports from edgar(August 22 and November 22) together in a word file (side by side) and compared them. Easy to see the changes.

Nurse most properly was in hurry preparing the filing and he (or his secretary) took not the submitted 10Q from August 22 and continued editing it, no he must have taken accidentally the working document.
Or, he made in the last minute before sending the word file to the SEC (on August 21/22) some changes, but he did not save them. So the changes are in the document which he send as e-mail for filing but not on the document which he has on his computer. Typical for last minute corrections. 
(Ohh, how many times this is already happened to me) 

So, now in November he may have been so busy (and felt bothered with the report pressing) that he just quickly took the last report which he found on his computer exchanged the numbers, added some text but missed out to delete the section which he already deleted on August 22.

I will just color the text so that you can easily see the editing and changes and will send it as attachment some minutes later after I finished my job (weekly progress report   ).

Unfortunately I do not have a subscription of edgar-online. Otherwise I would have downloaded both filings as original word file. Then I would have checked if he may have used the "track changes" mode and would have reactivated them.
In case he was so busy that he (or his secretary) forgot to disable this (which is most likely) we could see all the changes and correction with details ever made in both documents. (careful a spy trick  )


regards andyman

[slomo007]

So you think that he likely meant to delete the section on Cornell, meaning SWKJ did not enter in to an agreement afterall, because Knightsbridge came in to the picture and filled the role that Cornell was intended to fill? 

[andyman]

Yes, most possible. Maybe Nurse clearly know that the deal with Cornell was not the best but no choice. And than suddenly he found a better option. (everybody does this if he goes shopping, you are looking around...where can I get it cheaper)

When the agreement was meant to be in May 12, so he must have been in touch with Cornell at least since April. I am not aware about the status of the negotiations with Prestige Asia in April but I think SWKJ was active on multiple fronts to develop business opportunities at this time. So not only Asia also in US mainland.

You have to put yourself in to the body of Nurse scanning around like "...what for options do I have...where are some possibilities?"
Maybe the negotiations with Prestige Asia have not been very promising at that time (April) and Nurse was hoping to have a better opportunity at the mainland an was preparing itself for that.

I have been involved in setting up companies had have the same experience. On the beginning (that can mean also if you want to expand) you are screening around for opportunities(customers). And some opportunities popping up, some go just in the moment if you want to grab them, some arise on the horizon and you see nice but ooh, that's to big for me. Then you start thinking ...good what can I do to make me fit for that... and than some other deals popping up and suddenly you have the choice between a,b or c.  And then you have to make a decision because you cannot split yourself.
That's the job of managing a company.