You have no idea what is going on except what you hear from your broker who is LK's so-called pal. You get bits and pieces and are usually wrong. We will let you know when you finally say something that is correct info. You are just a blowhard! You know nothing and therefore the PSC will not share anything with you in the future. We are everywhere and YES, Mr. Hicks will feel the impact of the PSC if he tries to destroy this company further with any of his financial theatrics. Tell your broker to relay that to LK who although keeping a low profile these days will be dealt with in the future.
So what you are saying is that you know what John sold his business for? This is not about John! Are you envious? The focus should be on the President, Hicks, whose job is to turn it around. Believe me, he can really use John's help but is probably afraid as is Kessler on what he will uncover once he got involved. John should really be the CEO with his team and then we would have a chance. He is only interested in the success of the FRU and raising the share price for all investors.
Basically, he suggested that the PSC fund Puresafe. We told him that we loved his suggested funding amount as well as the terms but that it was why he was here-to fund PSWS. We also told him that he should fund the company with same amount and under same terms. No response from him. I guess his suggested amount was too "rich" for him and too big a commitment. If he is not going to put $3M(his suggestion for PSC) into the company under his very favorable terms for Puresafe, he doesn't seem to bring anything to PSWS as far as leadership, experience and qualifications. He says that he needs time to put together his plan and his team. If he took up our recommendation of John De, Les and Bill Warren to help run PSWS, we would have a chance. Also we suggested that John De be put on Board-still waiting for an answer! We are waiting to see what he does??? Not holding my breathe but we are becoming impatient. We forewarned him about him implementing any of his destructive financial methods which we really disappoint and upset the shareholder base. We are ready if it happens. We are seeking a cordial helpful relationship with Hicks and Southridge to make the PSWS/FRU a real player in waste water and water purification. He probably doesn't like the PSC very much-too direct and too interested in making Puresafe a successful company.
I really don't have confidence that Hicks will not dilute but if he does, he better put up a substantial amount of capital to get this company the cash needed for building the FRU. Then LesB has to produce sales. At some point, if Hicks doesn't follow through with the capital and I mean a lot of capital, I am sure that timeforlktogo will divulge what Hicks had the temerity to suggest to the PSC regarding funding. It is what we want him to do and would applaud him. Let's give him a chance to see if he is here to turnaround PSWS or for a quick profit thru his usual financial methods. We all will be watching and it better happen real soon.
Your guess is as good as anyone's. It is quite obvious that he never did any due diligence and is now scrabbling around to figure out what is going on, how to correct the mess and who will correct it. He has been offered help from qualified shareholders but so far has not taken the PSC up on the offer. He needs initially to put up a substantial amount of cash to bankroll the FRU and start the turnaround with LesB and other qualified personnel involved. If he dilutes the shares, the shareholders will revolt. He got himself involved, so now he needs to step up with the capital based on a payback over an extended term and at a very reasonable interest %. With the capital from Hicks and the right team in place, there is no reason why this company will not be a real player in the waste water/water purification sectors. He wanted the ball and it is directly in his court. The help is available! All he needs is the contact the appropriate parties and he will receive the support needed. Very simple, Mr. Hicks-capital, qualified team and start the turnaround by securing sales and building FRUs with the capital, not be utilized for useless overhead!
As a matter of fact, the PSC has a amicable dialogue with Hicks going on. Our expectations are that he will fund PSWS based on very reasonable interest loan terms without issuing additional shares and diluting the share price. Anything less than that would meet with strong resistance from the shareholders base which he is aware of. We hope that Mr. Hicks announces his plan shortly if he has one so Puresafe can get down to the business of turning around and becoming a viable company which is why we invested in PSWS. He has been forewarned about the death spiral/PIPES financing methods. With regard to LesB, he was on vacation so who knows if Hicks spoke with him. I would think that he would-Les is the only one who knows what is going on with sales at PSWS. He has been offered assistance from the PSC. We have hope that Hicks is in this for all the right reasons which is to traditionally fund PSWS and turn it into a winning company and share price.
That is up to Mr. Hicks-he knows our position and what we expect of him. If there is some dilution, there better be a whole lot of cash from him. That will tell all shareholders that he is going legit with PSWS. He also needs to take up PSC offer of help in running the company because he sure has no expertise nor does anyone in Southridge. If he works with the shareholder group, there is an outside chance this company could be saved as long as he puts his money on the line. We will know soon!
Lam-Let's just be patient and see what the 8K says. There has been communications between Steve Hicks and The PSC and he clearly understands our position regarding issuance of add'l shares and dilution of the share price. We also clearly understands that Steve is strictly a financier and has absolutely no experience or qualification to run a industrial technology manufacturing company nor does he have anyone in his organization which he has acknowledged. He needs our management team on board with him if this company has any chance of turning around. If he really wants to make it a successful enterprise, Steve needs utilize the expertise available to him and Puresafe and he needs to put up a substantial amount of capital to fund this company without issuance shares and diluting the share price. He also needs to find other investors. He is in agreement with the PSC objectives and claims to have a plan. We will see soon!
Lambert-I hear that the details will be coming forth in an 8K shortly. All I can say is LK had better not have given Hicks/Southridge shares which dilute the price from issuance of additional shares. The shareholders will revolt.
Hicks and his team have zero experience in managing any kind of a business with absolutely no knowledge of the industrial manufacturing industry. Unless he is going to pony up a large portion of capital, what does he bring to the party and why is he/Southridge involved? He is totally unqualified as a President so he better be in this as an investor who sees the FRU having a great future and get someone to run PSWS.
Liguy-The Puresafe Shareholders Coalition(PSC) is addressing Hicks directly. The PSC will probably be back to update shareholders within the next couple of days on status. In the meanwhile, patience is bliss!
Thanks for the interesting update. It sure seems that at least 40% of shares want LK out as CEO. Very likely she is hiding something and, if she is, John DeCanio, with his auditing background, will uncover any wrong doings. Once she is gone, Puresafe can get down to hopefully turning it around. Our group will be requesting to look at the financials of PSWS if she does not resign and LK better comply to the request unless she resign with dignity prior to being voted out by shareholders at a shareholder meeting. BTW, it my understanding from lawyers in Delaware that under Delaware law, if there is no annual shareholder meeting within a 13 months period, a shareholder meeting can be called by the shareholders to discuss Directors and officers and vote on a proposed slate. The pressure for her removal is just beginning and will not end until she is gone. The group is chatting daily with numerous shareholders and other individuals who were involved in some manner at Puresafe over the years and we are learning more and more about the past activities of our illustrious leader or should I use infamous.
Smalls-forget Gem-no one listens or cares about a lightweight like him. If it is determined that he is involved in this con-job, we will find out. Ignore him. As Kevin O'Leary says on Shark Tank to contestants if they don't accept his offer-"your dead to me" That's what we say to Gem.
Now do you know how much LK raised from her infamous PSWS Loan Agreement over the past 8 years? I assume it is in the million of dollars with nothing to show for it while the shareholders lose all of their investment. Someday she may be on American Greed once all this mismanagement and greed comes to light. We know that it was not utilized for the FRU production so we can only assume it went into salaries, benefits, perks, bonuses, etc for LK and others at Puresafe. A regular piggybank for our illustrious leader.
Prior to the shareholder petition, LK was contacted by email requesting her resignation as CEO. An agreement was presented to her to be signed outlining the details of her exit from Puresafe. She did not respond and, as I understand it, all she talked about is "we need money". Unfortunately, poor Leslie does not recognize that no one will lend PSWS capital as long as she is the CEO. She has absolutely decimated Puresafe and anyone supporting her must be in the famous "Kessler Delusion". Over the years, where did all the money loaned by individual investors go? Where? Does anyone have a clue? Where is Dominick and Dominick? We can only assume that they jumped ship? What about Captain??? who was brought on for introduction for business? Where is he? I could go on and on but the deals with these people did nothing for Puresafe but cost more dilution of shares to pay them. This place has been run like a "candy store" passing out shares as if it was "monopoly money".
The only way to rid Puresafe of its cancer is to surgically remove her by all shareholders joining in voting her out.
Did you contact timeforlktogo at Yahoo to receive petition? Someone will call you if you send your tel#.
I believe that when LK leaves and the new team is announced, the share price will move on high volume. She has been told on numerous occasions that her removal will move the stock and it could be substantially. She is a real detriment to PSWS and its share price-a real lightweight who has no business being the CEO of any company, even a neighborhood candy store which is the way she runs Puresafe and has run this candy store into the ground.
You said it and I am only a shareholder for less than 3 years. I figured it out after almost a year and have been pounding her with emails for well over a year to resign. Our time is now! We need every shareholders share and signature to vote LK out before she finally puts Puresafe into bankruptcy/liquidation which means we all lose every dollar of our investment. That would be sad! Our new management will give us a fighting chance.
I find it almost hard to believe how anyone could support LK with her horrendous track record. It is remarkable that shareholders are not protesting in front of her office after all these years of shareholder suffering. Once she leaves and new management takes control, the difficult clean up of the balance sheet begins along with working out a fair/reasonable agreement with creditors as well as contracts with vendors, contractors, employees etc. It will not be easy but it is doable particularly with some new significant sales which will open the door to funding from reputable investment firms/VCs.
Smalls/Lambert-a letter/email has been sent today to LK indicating to her that we are prepared to sit down with her and work out a transition of new management to replace her as CEO in a cordial and professional manner. If she does not respond, which is expected, we are prepared to call a special shareholder meeting. As of today, we believe that we have sufficient number of shares to hold a special meeting of the shareholders since PSWS has not had a annual meeting in years if ever under LK's umbrella. We also have counsel in Delaware reviewing the necessary Puresafe documents ie Charter, Bi-Laws, etc to move forward. We are going to see this through to the end which means either a change in management or bankruptcy. If the latter happens, the lawsuits will then begin to surface against LK and all parties affiliated with Purefafe over the past couple of years or so particularly during the time the dilution commenced. In addition, any shareholders who were enriched by shares during the dilution period at bargain basement prices, not bought on the open market, will be looked at. This also includes former BODs who received huge amounts of shares at the most diluted prices for doing nothing but rubber-stamping LK's and others shares. LK has been warned not to bring in any Southridge Capital type investors and dilute the shares in a "death spiral" mode.
Again, we will see this to the end and if LK and her cronies want to test us, be our guest because we have just begun to put our best foot forward. This is just another case study in greed where a CEO is attempting to get rich at the shareholders expense. Although we do not know for sure, we would not be surprised that once we are able to have access to the financials, agreements with vendors, contractors, etc and other deals made, we may very well find out why our request months ago to review company in-house information was denied. Is there something unlawful going on, only the CEO knows but we intend to find out.
The feedback that I am receiving from timeforlktogo is that many of the shareholders were friends of LK/TL and were able to convince them to not only buy shares on the open market but lend money to PSWS under its loan program. Many of these people are prominent business people and to say the least, are extremely disappointed and angry with Puresafe's disgraceful performance under Leslie Kessler's leadership and fully support her dismal. It is absolutely unbelievable how shareholders had stop following PSWS stock and had thrown in the towel until this petition surfaced and they were contacted by active shareholders.
Keep talking to your friends, family, acquaintances and neighbors who are shareholders that gave up on their investment and tell them that there is hope and that they should contact timeforlktogo if they wish to have a chance to celebrate in the streets once LK is history. The time is NOW, not after she put the final tack in the tomb!