Ryan Schadel
18 years ago
PCCE.OB - Hey guys. Saw my name on a link to this site with someone asking questions about my research into Pacel Corp. If you own stock in this company I suggest you dump it. It's a bogus deal. I traveled to their office but no one was ever there. No one returned my phone calls, or answered my letters, or my faxes. After all the r/s action it should be obvious that its a losing proposition and unfortunately its pretty much legal with loopholes and all. I spoke with the SEC to no avail. There is nothing they can or will do. I sold my stock a while back after I could not get any resolve. Just wanted to answer Perc's question. There are better opportunities out there to risk your money in, even if it means selling at a 90% loss, which most investors in this company are at already, if not more. Too much risk, not enough upside. Im available via my email or cell phone if you have any additional questions on this particular stock. rschadel@hotmail.com 1-864-444-3220. Good luck and happy trading.
matrix
19 years ago
Here's a docket summary of the civil case for the last six months.
1:03-cv-02182 SEC, et al v. Custable, et al
Joan B. Gottschall, presiding
Maria Valdez, referral
Date filed: 03/27/2003 Date of last filing: 01/10/2006
Case Summary
Office: Chicago Filed: 03/27/2003
Jury Demand: None Demand: $0
Nature of Suit: 850 Cause: 15:78m(a) Securities Exchange Act
Jurisdiction: U.S. Government Plaintiff Disposition:
County: Cook Terminated:
Origin: 1 Reopened:
Lead Case: None
Related Case: None Other Court Case: None
Def Custody Status:
Flags: CASREF, VALDEZ
294 Filed & Entered: 01/10/2006 magistrate judge status hearing
Docket Text: MINUTE entry before Judge Maria Valdez : Magistrate Judge Status hearing held on 1/10/2006 and continued to 6/14/2006 at 09:30 AM. Mailed notice (yp, )
292 Filed: 12/01/2005Entered: 12/13/2005 order on motion to withdraw as attorney
Docket Text: MINUTE entry before Judge Joan B. Gottschall : Motion by plaintiff Securities and Exchange Commission to withdraw as attorney Jerome Tomas [291] is granted. Enter order. The appearance of Jerome P. Tomas is hereby withdrawn. Attorney Jerome Peter Tomas terminated. Mailed notice (mjc, )
293 Filed: 12/01/2005Entered: 12/13/2005 order
Docket Text: ORDER Signed by Judge Joan B. Gottschall on 12/1/2005.(mjc, )
291 Filed & Entered: 11/17/2005Terminated: 12/01/2005 motion to withdraw as attorney
Docket Text: MOTION by Plaintiff Securities and Exchange Commission to withdraw as attorney Jerome Tomas (Attachments: # (1) Text of Proposed Order # (2) Notice of Filing # (3) Certificate of Service)(Levine, Steven)
290 Filed & Entered: 10/20/2005 magistrate judge status hearing
Docket Text: MINUTE entry before Judge Maria Valdez : Magistrate Judge Status hearing held on 10/20/2005 and continued to 1/10/2006 at 09:30 a.m. Mailed notice (yp, )
287 Filed: 09/30/2005 Entered: 10/04/2005 order on motion for order
Docket Text: MINUTE entry before Judge Joan B. Gottschall : Motion by Mark D. Toljanic, the court appointed receiver for an order providing for interim legal fees [285] is granted. Enter order to pay interim legal fees from registry account. Mailed notice (mjc, )
288 Filed: 09/30/2005Entered: 10/04/2005 order
Docket Text: ORDER To Pay Interim Legal Fees From Registry Account Signed by Judge Joan B. Gottschall on 9/30/2005.(mjc, )
285 Filed & Entered: 09/29/2005 Terminated: 09/30/2005 motion for order
Docket Text: MOTION by Receiver Mark D Toljanic for an order providing for interim legal fees; Notice. (cdy, )
286 Filed: 09/27/2005Entered: 09/29/2005 affidavit
Docket Text: AFFIDAVIT of Cathleen M. Keating regarding motion for order providing for interim legal fees [285] (cdy, )
284 Filed & Entered: 09/22/2005 magistrate judge status hearing
Docket Text: MINUTE entry before Judge Maria Valdez : Magistrate Judge Status hearing held on 9/22/2005 and continued to 10/20/2005 at 09:30 AM. Mailed notice (yp, )
282 Filed: 07/18/2005Entered: 07/22/2005 order on motion for order
Docket Text: MINUTE entry before Judge Joan B. Gottschall : Enter order to pay interim legal fees from registry account. Motion by Mark D. Toljanic for an order providing for interim legal fees from 04/01/05 through 05/31/05 [280] is granted. Mailed notice (cdy, )
283 Filed: 07/18/2005Entered: 07/22/2005 order
Docket Text: ORDER TO PAY INTERIM LEGAL FEES FROM REGISTRY ACCOUNT. Signed by Judge Joan B. Gottschall on 7/18/2005.(cdy, )
280 Filed: 07/15/2005Entered: 07/20/2005 Terminated: 07/18/2005 motion for order
Docket Text: MOTION by Receiver Mark D Toljanic for an order propviding for interim legal fees; Notice. (cdy, )
281 Filed: 07/15/2005Entered: 07/20/2005 affidavit
Docket Text: AFFIDAVIT of NORMAN V. CHIMENTI by Mark D Toljanic regarding motion for an order providing for interim legal fees [280]. (cdy, )
278 Filed: 06/30/2005 Entered: 07/06/2005 text entry
Docket Text: MINUTE entry before Judge Joan B. Gottschall : Defendant's agreed motion for a limited modification of the Asset Freeze. Enter Agreed Order. Mailed notice (eav, )
279 Filed: 06/30/2005Entered: 07/06/2005 order
Docket Text: AGREED ORDER Signed by Judge Joan B. Gottschall on 6/30/2005:Mailed notice(eav, )
276 Filed: 06/28/2005 Entered: 06/29/2005 motion for miscellaneous relief
Docket Text: AGREED MOTION by Defendants Active Investments, Inc., Frank J Custable, Jr for a limited modification of the asset freeze (gma, )
277 Filed: 06/28/2005Entered: 06/29/2005 notice of motion
Docket Text: NOTICE of Motion by Curtis Michael Kendall for presentment of AGREED MOTION by Defendants Active Investments, Inc., Frank J Custable, Jr for a limited modification of the asset freeze [276] before Honorable Joan B. Gottschall on 6/30/2005 at 09:30 AM. (gma, )
275 Filed & Entered: 06/23/2005 magistrate judge status hearing
Docket Text: MINUTE entry before Judge Maria Valdez : Magistrate Judge Status hearing held on 6/23/2005 and continued to 9/22/2005 at 09:30 AM. Judicial staff mailed notice. (yp, )
274 Filed & Entered: 06/08/2005 set/reset hearings
Docket Text: MINUTE entry before Judge Maria Valdez : Initial status hearing is set before Magistrate Judge Maria Valdez on 6/23/05 at 9:30 a.m., in Courtroom 1300. Parties shall deliver a copy of an initial status report, to chambers, Room 1318, four business days before the initial status hearing. The parties must follow the format for an Initial Status Report found on the Judge's website available at www.ilnd.uscourts.gov, or the parties can contact courtroom deputy, Yolanda Pagan, at 312/408-5135 for a copy. If the parties have recently prepared and filed an initial status report, the submission of the previously filed initial status report is sufficient. Judicial staff mailed notice. (yp, )
-- Filed: 06/01/2005 Entered: 06/07/2005 referring case to magistrate judge
Docket Text: EXECUTIVE COMMITTEE ORDER:Case referred to Magistrate Judge Maria Valdez. Signed by Executive Committee on 6/1/05. Mailed notice(cem)
matrix
19 years ago
The feds filed two lawsuits - one criminal and one civil. Neither of these has gone to trial yet. Here's a docket summary of the criminal case for the last six months.
Case Summary
1:05-cr-00340 USA v. Custable et al
Date filed: 04/07/2005
David Calkins (6)
Office: Chicago Filed: 04/07/2005
County: Cook Terminated: Reopened:
Other Court Case: None
Count: 1 Citation: 18:1343.F Offense Level: 4
FRAUD BY WIRE, RADIO, OR TELEVISION AND 18:2 AID AND ABET
Count: 5-7 Citation: 18:1343.F Offense Level: 4
FRAUD BY WIRE, RADIO, OR TELEVISION AND 18:2 AID AND ABET
Def Custody Status: Released
Flag: DENLOW
79 Filed: 01/27/2006 Entered: 01/31/2006 status hearing
Docket Text: MINUTE entry before Judge Blanche M. Manning : Status hearing held and continued to 3/2/06 at 11:00 a.m. Defendants pretrial motion deadline extended to 4/15/06. Responses to be filed by 5/5/06. Replies to be filed by 5/15/06. Time excluded to 5/15/06 pursuant to 18:3161 (h)(1)(I). Mailed notice (emd, )
73 Filed & Entered: 11/30/2005 set/reset hearings
Docket Text: MINUTE entry before Judge Blanche M. Manning : Status hearing reset to 1/27/2006 at 11:00 AM. Pursuant to the briefing schedule for the filing of pretrial motions, time continues to be excluded to 3/24/06 pursuant to 18:3161(h)(1)(F). Mailed notice (emd, )
71 Filed: 10/14/2005 Entered: 10/17/2005 status hearing
Docket Text: MINUTE entry before Judge Blanche M. Manning as to all defendants: Status hearing held and continued to 12/16/05 at 11:00 a.m. Time extended to file pretrial motions. Motions to be filed by 2/15/06. Responses to be filed by 3/10/06. Replies to be filed by 3/24/06. Time excluded to 3/24/06 pursuant to 18:3161(h)(1)(F). Mailed notice (las, )
70 Filed: 09/06/2005 Entered: 09/09/2005 order on motion for extension of time
Docket Text: MINUTE entry before Judge Blanche M. Manning : Defendants David Calkins and Sara Wetzel's motions for extension of time to file pretrial motions is granted [68][66]. All other defendants granted leave to join in their motions. Responses to be filed by 11/21/05. Replies to be filed by 12/2/05. Status hearing to stand. Time excluded pursuant to 18:3161(h)(1)(F). Mailed notice (emd, )
66 Filed & Entered: 08/30/2005 Terminated: 09/06/2005 motion for extension of time
Docket Text: MOTION by David Calkins for extension of time within which to file pretrial motions (gma, )
67 Filed & Entered: 08/30/2005 notice of motion
Docket Text: NOTICE of Motion by Daniel M. Purdom for presentment of MOTION by David Calkins for extension of time within which to file pretrial motions [66] before Honorable Blanche M. Manning on 9/6/2005 at 11:00 AM. (gma, )
65 Filed: 07/19/2005Entered: 07/21/2005 order on motion for extension of time
Docket Text: MINUTE entry before Judge Blanche M. Manning as to Custable, et al: Defendant's motion for extension of time within which to file pretrial motions is granted and is joined in by all defendants unless otherwise stated. Pretrial motions to be filed by 9/1/05. Responses to be filed by 9/22/05. Replies to be filed by 10/3/05. Status hearing reset to 10/14/05 at 11:00 a.m. Time excluded to 10/14/05 pursuant to 18:3161 (h)(8)(B)(I). Mailed notice (kmt, )
60 Filed & Entered: 07/11/2005Terminated: 07/19/2005 motion for extension of time
Docket Text: MOTION by David Calkins for extension of time within which to file pretrial motions (gma, )
61 Filed & Entered: 07/11/2005 notice of motion
Docket Text: NOTICE of Motion for presentment of MOTION by David Calkins for extension of time within which to file pretrial motions [60] before Honorable Blanche M. Manning on 7/19/2005 at 11:00 AM. (gma, )
59 Filed: 06/16/2005 Entered: 06/17/2005 transcript
Docket Text: TRANSCRIPT of proceedings for the following dates: 4/18/05; Before the Honorable Sidney I. Schenkier as to Frank Custable, Jr, Sara Wetzel, Suburban Capital Corporation, North Coast Investments, Inc., Robert Luce, David Calkins, Gary Heesch, David Giles, Christine Favara, Bradley Nordling, Jesse Boskoff (emd, )
perc
19 years ago
Pacel Corp Now PCCE.ob
but only for the last couple of weeks
http://tinyurl.com/bbx9s
http://finance.yahoo.com/q?s=PCCE.OB
Q: HOW MANY OTHER REVERSE SPLITS DID THEY HAD LAST YEAR?
WHY IS THIS COMPANY STILL TRADING?
WHY DOES THE SEC NOT SHUT THEM DOWN?
AND THROW ALL THE PRINCIPLES IN JAIL? HUH ??
------------------------------------------------------
Posted by: matrix
In reply to: awakeinthemorning who wrote msg# 68 Date:3/4/2005 12:54:14 PM
Post #69
Pacel is a r/s heavy diluter stock. These types are very dangerous to play.
Stock prices basically move on supply and demand. If there is an endless supply of shares entering the float and extremely low demand, the price will naturally head downward. If these guys would ever stop diluting, the price could recover but they've been doing this same dilute r/s crap for years. So, the best you can ever hope for here is a short bounce before it heads even lower.
You're trying to calculate a marketcap based on a share structure after the last r/s. Of course, that makes the company look very cheap. Now, take into account all the r/s done:
Symbol Split Ratio DatePCOR 1:1000 R/S 02/25/2005PCCL 1:100 R/S 09/13/2004PACC 1:100 R/S 02/25/2004PCEL 1:30 R/S 03/17/2003PLRP 1:100 R/S 04/07/2002PLRPD 1:4 R/S 10/07/1999
1000 x 100 x 100 x 30 x 100 x 4 = 120 billion
One share at .005 today is actually equivalent to 120 billion shares valued at $600M pre-Oct 1999. Ten million today would be equivalent to 1.2 quintillion shares valued at $6 quadrillion. When you account for all those r/s, the company no longer looks cheap at all does it?
-----
perc
19 years ago
Q: What did Ryan Schadel ever find out? huh ??
Press Release for December 30, 2005
http://www.prweb.com/releases/2005/12/prweb326813.htm
UPDATE-Shareholder of Pacel Corp. (PCCN) Requests Confirmation of the Number of Outstanding Shares
This is an update to a release on November 26, 2005 "Shareholder of Pacel Corp. (PCCN) Requests Confirmation of the Number of Outstanding Shares."
Atlanta, GA (PRWEB) December 30, 2005 -- As stated in a release dated November 26, 2005, Ryan Schadel, a shareholder of Pacel Corp. (PCCN), sent a letter to the corporate office of Pacel Corp. requesting confirmation of the number of outstanding shares of the company's common stock (Please see release dated 11/26/05).
"I expected some sort of response by now", said Mr. Schadel. "I have left several messages for company management as well but have received no correspondence. It is imperative that shareholders have access to accurate information regarding the company's capital structure. I have been contacted by other shareholders seeking access to this information as well. The company's stock is still trading at volume levels much higher than the number of outstanding shares the company has reported to the SEC. Under the circumstances, the shares are virtually worthless at this point."
Mr. Schadel says he intends to drive to the corporate office of Pacel Corp. to meet with company management if he does not receive the requested information by January.
------------------------------------------------------------
{"If the company has only 5 million shares outstanding, it seems impossible that nearly one billion shares could change hands in one day."}
Q: Is Pacel Corp one of many being naked shorted into oblivion?
Or just a R/S scammer?
http://www.prweb.com/releases/2005/11/prweb314807.htm
Shareholder of Pacel Corp. (PCCN) Requests Confirmation of the Number of Outstanding Shares
A shareholder of Pacel Corp. has sent a letter to the company's corporate office requesting information regarding the company's outstanding shares.
Atlanta, GA (PRWEB) November 26, 2005 -- Ryan Schadel, a shareholder of Pacel Corp. (PCCN-OTCBB), has sent a letter to the corporate office of Pacel requesting confirmation on the number of outstanding shares of common stock the company has issued.
A Form 8-k filed with the SEC on October 25, 2005 states that "..the registrant completed a 1 for 1,000 reverses stock split of its issued and outstanding common stock. After the reverse stock split, the registrant will have approximately 4,983,442 shares of common stock issued and outstanding."
The company's common stock, which trades under the symbol PCCN on the OTC, has seen a dramatic increase in volume over the last 4 days. Share volume for Wednesday November 23, 2005 exceeded 900 million shares on the OTC.
"If the company has only 5 million shares outstanding, it seems impossible that nearly one billion shares could change hands in one day." said Mr. Schadel. "It is important that all shareholders get an understanding of what is happening with the trading of the company's stock." Mr. Schadel owns several million shares of the company's common stock.
###
Im In
20 years ago
I'm out as of yesterday, after I sold it showed signs of hope (.0054x.0055) I guess they didn't feel like dumping for a day. That's the trick with these, they do get their pops and runs but I'm out for at least right now. I see the 1,450,000 at .004 at 12:15 - a sell under the bid (I'm guessing). That's $5,800 in someones pocket, good job to have I guess - do that 5 or 8 times a week. Good luck to all, there could be a turn around but I have other plans fo my $$$ right now.
KlausVT
20 years ago
awake -
here's some reading regarding reverse splits and put that in context with the history of Pacel => the conclusion is up to everyone's interpretation whether Pacel fits the described scenario.
http://www.faulkingtruth.com/Articles/Investing101/1010.html
Excerpt:
7. Restrict reverse splits. This is extremely important. If an individual files for bankruptcy, he or she can't declare bankruptcy again for seven years. Why should a publically traded company be any different? One reverse split is one too many, in my opinion, but multiple reverse splits should be against the law. The most corrupt companies sell hundreds of millions (or even billions) of shares of stock on a regular basis, then declare a reverse split, in effect reducing the number back to near zero, and promptly sell another billion or more shares into the market. In the world of OTC stocks, reverse splits are almost always the kiss of death, especially when they are followed by another round of dilution. I could name a dozen companies off the top of my head that do this for a living (and there are dozens more), but I'm sure every investor has at least one that they've been burned on. Fill in your favorite ripoff company's name here.
8. When a company does declare a reverse split, reduce the number of authorized shares accordingly. In other words, if a company has 500 million authorized shares available, and they sell them all to keep the company afloat, they shouldn't be allowed to declare a reverse split and start all over again. If they are truly declaring a reverse split to reduce the float (say, by enacting a 10 to 1 reverse split to reduce the number of shares to 50 million), then the authorized shares should be reduced proportionately. If they only care about freeing up more shares to sell, let them go to the stockholders for approval.
End Excerpt
Again, it is NOT a given that authorized shares are reduced by the r/s ratio unless corporate by-laws state this explicitely of state law requires it. And given the fact that Pacel has gone through several r/s without reducing the # of authorized shares it is safe th assume that it wasn't the case this time around.
You pointing to the r/s announcement does NOT indicate the reduction in a/s only in o/s and p/s.
Cheers
matrix
20 years ago
Many shares were sold for a higher price, where does the money go?
Unfortunately, the majority does not go into the company itself. A lot will go into the pockets of insiders, consultants, financiers, day/swing traders, and paid promoters. Others can get a piece of the pie too if they learn to play the price swings.
Im In
20 years ago
Awake - I think the math makes the 10 billion to become 10 million - (10,000,000) because 1 billion is 1000 million. But I have to agree with Klaus in post #73 and Matrix in #86 - the A/S could just have stayed the same. Say there were 9 billion O/S at the time of the split, that becomes 9 million but was probably quickly diluted with the dumping of new shares right away, raising the O/S. They can keep dumping until they get to 10 Billion again.
I tell people that I trade penny stocks and they think it is some kind of "little game" until I fully explain it. CMKX just noted that thay have 700+ billion shares O/S (I think).
700 billion x .0001 = 70 million dollars! Many shares were sold for a higher price, where does the money go? The trick is to get a piece of that pie instead of contributing to it LOL.
OK - correct me if I'm wrong but QBID was GAAY and was something else before that, a R/S "repeat offender". After it became QBID it was diluted down to .0001, about where the next reverse split usually occurs - but there was no R/S. There was rumor, news, and a turn around. it ran to the .0025 area, evetually broke out at .0038 or .0045 or whatever and was .027 within days. I know because that was my first run and it blew my mind and actually became a deficit to me - too much money too fast but I guess things could be worse. GLTA
awakeinthemorning
20 years ago
As part of its change of corporate domicile from Virginia to Nevada, as described in Section 8 of this Report, the registrant increased its authorized capital stock to 10 billion shares of common stock, par value $0.001. The registrant's authorized preferred stock remained at 5 million shares, par value $0.001. Information regarding the increase in the authorized capital stock was contained in the registrant's definitive Information Statement filed December 27, 2004.
With the RS 1-1000 the AS now = 100.000.000
Terin
20 years ago
Exactly... they have to modify their Articles of Incorporation after the R/S, just as I wrote. The R/S modified both A/S and O/S, and for them to continue the dilution, they need to modify the Articles of Incorporation first. If they have an "E" appended when they R/S, then it appears that they can't do that, or any dilution until the "E" is removed, although I have not confirmed this. Example is GLKCE.
Terin
20 years ago
Until the SEC gets off their A$$, and actually does something about it, you will continue to see the legalized fraud that this represents.
I have never had a stock R/S while I was long, thank God.
But, I've certainly played numerous R/S POS stocks after the R/S.
Very risky play, but also potentially very rewarding.
I played GLKCE very well. It had a similar story, but without the post-R/S dilution I think we have here...
awakeinthemorning
20 years ago
KlausVT, thank you. I have this: Gary Musselman, President of Pacel, stated, "the funds that Compass Capital Group provided, allowed us to close our last acquisition, Rossar, LLC, and fund our corporate reorganization. This reorganization established Asmara Benefit Services, Inc. as our licensed insurance agency, Piedmont HR, Inc., as our Risk Management and Safety Analysis, and The Resourcing Solutions Group, Inc, as a PEO/ASO company that will shortly be directly competing with leaders in the PEO industry. This capital infusion has allowed the company to proceed with our plan become a leading force in the Human Resources Outsourcing Industry."
Maybe just maybe they will become a leading force in the Human Resources Outsourcing Industry
$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$
You have to take risk...
Im In
20 years ago
Awakeinthemorning, My opinion and experience tells me there ARE more shares, a few days ago (when I first bought some) it was trading like there was more demand than supply for that day (or else MM's created that illusion) I fell for the trick and bought. By the next day the price dropped as NITE stayed in control, I saw the 4 million and 1 million sells just under the bid (at 1:27 and 1:29pm) along with other big sells, that's the dilution already. I thought they need to file to issue more, I don't know if that's always the case - I'm still learning all this. Not much money involved for me here so I did the common mistake, averaged down at .007 as it looked to have bottomed. OK, fine, now I wait but my patience will wear thin soon...as long as they dillute it will go down, good news coupled with a stop or slowing down of dilution could create an awesome little run. Like I said, not much money in this one so I was able to study it without all the negative emotions. I watched NITE stay well over the other MM's when he could - that gave him room to totally contol the pps. I could go on and on but I think I already have. The transfer agent never got back to me. The bright side(?), these are pennies stocks - anything can happen.
matrix
20 years ago
Pacel is a r/s heavy diluter stock. These types are very dangerous to play.
Stock prices basically move on supply and demand. If there is an endless supply of shares entering the float and extremely low demand, the price will naturally head downward. If these guys would ever stop diluting, the price could recover but they've been doing this same dilute r/s crap for years. So, the best you can ever hope for here is a short bounce before it heads even lower.
You're trying to calculate a marketcap based on a share structure after the last r/s. Of course, that makes the company look very cheap. Now, take into account all the r/s done:
Symbol Split Ratio Date
PCOR 1:1000 R/S 02/25/2005
PCCL 1:100 R/S 09/13/2004
PACC 1:100 R/S 02/25/2004
PCEL 1:30 R/S 03/17/2003
PLRP 1:100 R/S 04/07/2002
PLRPD 1:4 R/S 10/07/1999
1000 x 100 x 100 x 30 x 100 x 4 = 120 billion
One share at .005 today is actually equivalent to 120 billion shares valued at $600M pre-Oct 1999. Ten million today would be equivalent to 1.2 quintillion shares valued at $6 quadrillion. When you account for all those r/s, the company no longer looks cheap at all does it?
awakeinthemorning
20 years ago
I think I might be right with a strong and very high rebound on PCLL because right now the price is ridicules low but I am sure although I have read every filing and that I am missing some crucial information that it should be valuated much higher very soon.
The 1 for 1000 reverse stock split should affect a little more than only ½ a penny.
-Quote-
As part of its change of corporate domicile from Virginia to Nevada, as
described in Section 8 of this Report, the registrant increased its authorized capital stock to 10 billion shares of common stock, par value $0.001. The registrant's authorized preferred stock remained at 5 million shares, par value $0.001. Information regarding the increase in the authorized capital stock was contained in the registrant's definitive Information Statement filed December 27, 2004.
-Unquote-
If my math is correct the company now has 10.000.000 shares correct?
10.000.000 x ½ penny = US$50.000???????
Monday , January 03, 2005 15:07 ET
Pacel Corp (PCOR) announced that it has acquired certain assets of Rossar HR LLC d/b/a YourStaff Solutions(TM), a Pennsylvanian limited liability company. YourStaff Solutions(TM) specializes in quality human resource management services and guidance for small to mid-sized businesses. The company has averaged billings of $11 million over the last four years
Monday , January 03, 2005 15:04 ET
CHARLOTTE, N.C., Jan 3, 2005 (BUSINESS WIRE) --Pacel Corp (OTCBB:PCOR) announces that it has acquired certain assets of Rossar HR LLC d/b/a YourStaff Solutions(TM) (YourStaff Solutions(TM)), a Pennsylvanian limited liability company.
YourStaff Solutions(TM) is a Professional Employment Organization (PEO) founded in 1987 originally as YourStaff Inc. by President and CEO Marcia J. Sartoti. The company specializes in quality human resource management services and guidance for small to mid-sized businesses. The company has averaged billings of $11 million over the last four years, making it an impressive industry leader. YourStaff Solutions(TM) currently services 17 U.S. and International clients which will add a significant number of work site employees to Pacel's already growing employee base. Pacel now has clients in 11 states with annual gross billings in excess of $30 million.
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