Please somebody fill me in on who authorized the formation of this company to take over Action Products business? Do the Kaplans own majority of APII to authorize this ? I have seen no disclosure on this. The Kaplans are not majority owners of Action Products according to the last filings I saw. Was there a secret BOD meeting authorizing this? All the pictures on Facebook show the old employees of Action working for Bsw Toys Inc. The pictures even show the old APII employees in Ocala working for BSW Inc on Facebook. What private deal is between BSW and the Kaplans? Why are all the shareholders having the assets of the company sold or moved to BSW ? So if I am not mistaken it appears that Warren came in not to save the company like his release in May alludes to but to dismantle it. What is the matter does anybody have some constructive reasoning here ? I guess I am the only shareholder paying attention. HEY SHAREHOLDERS THIS IS A PUBLIC COMPANY GET IT !!!!!!!!
It used to be that www.actiontoysinc.com was it's own site. Now it automatically redirects to www.bswtoy.com When I checked BSW's site yesterday, all of the contact info was for people with @apii.com email addresses. Now it's all @bswtoy.com addresses. WTF?
http://bswtoy.com/ This site looks very familar. What is the deal between BSW and APII?
Distributer or not these guys have taken over Action Products business without any disclosure to the shareholders. Everybody involved should be very nervous here. SHAREHOLDERS RIGHTS HAVE BEEN TRAMPLED
I have a question if the company is illegally selling off the toy business which is yet to be determined. Are all the people that are involved in the transaction as well as the employees involved in an illegal activity ?
I think at this point the Attorney General should be contacted. Looks like what is being done is plain not legal. Like to see some of these people do some time since my investment looks lost!!!
If the very assets and business of the company are being compromised then we will in fact be left with nothing. I still don't believe the family has control to institute such changes and again I question everything.
If they are in fact doing something with the assets of the company without shareholder approval. And if they are receiving payment from those assets then we need to take action. I have also heard that the RK lawsuit against the company involves expenses that were charged against his credit card. How many expenses were picked up from the company for Ron Kaplan over the years not to mention the family. I question everything. We have to at this point.
Eligible for relisting and able to handle relisting are two different animals. Given the current state of affairs I can't see APII affording SOX compliance and the skilled staff to oversee same. I always liked this company's concept, but Ron was a train wreck and allowed to drive this thing too deeply into the ground to see the light of day again (imo of course). Short of a buyout (and who'd want it bad enough to assume those warrants and not to just wait for the inevitable BK at this point)this stock remains on the pinks until it passes into history.
It is difficult when a stock isn't required to file with the SEC to know what is going on. I don't think the Kaplans would be stupid enough to do anything illegal as they would only lose everything in the long run.
I expect that the silence has been a struggle for survival and we will hear something when they either win or lose this battle. If they can report at some point that they are at break even or running at a profit, the stock would shoot back to $3 a share overnight and become relistable shortly thereafter.
I also would like to know more details, but as far as I can tell, BSW is just a distributor so ultimately it can only help Action Toys. It also takes all of those folks off of Action's payroll, lowering their expenses.
The last we heard of anything was when Bob Muniz said April was looking better. It would be very nice to know where things stand now and what the future looks like. I have emailed Warren Kaplan a few times with no response.
I am sure that money has changed hands and I would be willing to bet that the Kaplan family is getting paid from the disposition of the toy company to the employees. I dont buy the distributer crap. SHAREHOLDERS NEED TO WAKE UP
I cannot imagine how their lender, Presidential, isn't screaming about this, unless they've been contacted already and have commited to forbearance of some kind. APII is essentially transferring many of it's operations to BSW, leaving stockholders like us and creditors like Presidential in the lurch. WTF?