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Pacific WebWorks, Inc. Message Board

  • medici1248 medici1248 Nov 11, 2010 11:47 AM Flag

    Proxy Fight, Board Seats, Fire Bell

    Can I get a feeling if anyone would be on board to nominate some new board members with a desire to use cash to buy back shares and increase shareholder value.

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    • I own over 1% of float and agree that company should buy back its shares .!. I noted that PEWB sold 8M shares in the sell down from .39 to .03 ./. REASON for the BIG MOVE .!.

    • ATTENTION STOCKHOLDERS OF PACIFIC WEBWORKS STOCK: As a shareholder myself, I have to wonder why anybody would be selling shares fo 12cents per share when the shares have a value of approximately 30 cents each, and if taken at normal which is 10 times earnings, it would be in excess of $1.00. The only answer I could come up with is mismanagement of our company. Number one on my list of correcting these abuses would be to have an independent board of directors made up of shareholders, not the father/CEO, Son/CFO and President/Friend. Plus the benefits to a Mark Bell, a second son at the company, I could not find out what it cost us to have him show up each day. I am very thankful they didn't have a large family. They could have bankrupt the company. If you look at the financial report the three of them, as the board of directors, voted themselves an increase in compensation from $594,521.00 in 2008 to $1,288,416.00 in 2009. For doing What? Number 1 - helping the stock price go from 39 cents down the 5 cents; and number 2 - borrowing $1,000,000.00, paying 7% interest and putting in a checking account to pay themselves and getting no interest; number 3 - letting themselves buy our stock for 4 cents a share while the rest of us are paying three times that much; and number 4 - after letting their children fill their pockets with hundreds of thousands of dollars for doing meaningless jobs with a title. I believe these types of abuses, and there are more in my estimation, are nothing short of theft. We the stockholders must say right now enough is enough. We must get together with our shares of stock and agree to vote for a new five person board that does not include management and let these three employees understand that they work for PWEB, they do not own it. If you agree with me, please email your name and how many shares you own, and your approval to vote your share with the wishes of this group.

    • I am a stockholder and I have friends who are stockholders and we have close to 10,000,000 shares, and it is exactly what we want to do. Let us organize and get back control of our company.

      • 4 Replies to allenstutelberg
      • i'm in for 70,000 shares.

      • Dec 6, 2010 10:35 AM Flag

        Good Luck!
        I've been holding 500 shares since 2001. After much angst PWEB finally blessed me with a "Newsletter" but, never an Filing nor Annual Report.
        That was Two Years ago. Worse yet, Inteli-Pay is unable to function for more than One Month in a row. This makes it difficult to keep one, let alone the 215 Visual Web-Tools Websites they sold under the Global Web Banner, up and going.

        In short, PWEB.OB and Visual Web Tools are setting the stage to become the SEC's Poster Children for Caveat Emptor. Any change of the board is merely Musical Chairs in the land of Smoke & Mirrors.

      • Have you filed SEC reports on your ownership?
        If you and/or a group own more than 4.9%, you have just busted hell out of the securities laws if you haven't. Can you wage a proxy fight from jail? Remember, the SEC does once in a great while actaully take action against individuals---especially those who don't work for the big investment houses, rating agencies, or those well-connected politically. Now if you're a Goldman or Citi honcho, you don't have to worry about it. You might get a verbal scolding.But if you're not, you could expect management of PWEB to come after your behind and the SEC to take notice. But--far more likely--you're blowing smoke about the 10 mil.

      • you have 20% of the the rest and take it private.

    • Why do you think they are doing a poor job? They increased revenue significantly in 2009.

0.0075-0.0010(-11.76%)Feb 10 9:30 AMEST