Mehrere 1000 % mit der billigsten Internetaktie der Welt - 500 Beiträge pro Seite
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Titel | letzter Beitrag | Aufrufe |
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heute 11:23 | 1282 | |
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Meistdiskutierte Wertpapiere
Platz | vorher | Wertpapier | Kurs | Perf. % | Anzahl | ||
---|---|---|---|---|---|---|---|
1. | 1. | 18.772,85 | +0,46 | 131 | |||
2. | 3. | 0,2170 | +3,33 | 125 | |||
3. | Neu! | 8,2570 | +96,67 | 108 | |||
4. | 4. | 156,46 | -2,31 | 103 | |||
5. | 14. | 5,7540 | -2,18 | 56 | |||
6. | 2. | 0,2980 | -3,87 | 50 | |||
7. | 5. | 2,3720 | -7,54 | 49 | |||
8. | 7. | 6,8000 | +2,38 | 38 |
Das kanadische Reiseonlineunternehmen Travelbyus (WKN 626736) könnte nach einem Kursverfall von 3 Euro auf 3 Cent
vor einem Kursanstieg von mehreren 1000 % stehen.
Die anstehende Veröffentlichung der Zahlen Ende September
soll laut Unternehmensaussagen eine deutliche Senkung der
Kosten bei einer Steigerung der Umsätze zu Tage bringen.
Der angestrengte Breakeaven soll wahrscheinlich schon in
diesem Jahr erreicht werden.
Was das für den Kurs bedeuten würde zeigen Beispiele von
Unternehmen aus der gleichen Branche wie Expedia oder
Travelocity.
vor einem Kursanstieg von mehreren 1000 % stehen.
Die anstehende Veröffentlichung der Zahlen Ende September
soll laut Unternehmensaussagen eine deutliche Senkung der
Kosten bei einer Steigerung der Umsätze zu Tage bringen.
Der angestrengte Breakeaven soll wahrscheinlich schon in
diesem Jahr erreicht werden.
Was das für den Kurs bedeuten würde zeigen Beispiele von
Unternehmen aus der gleichen Branche wie Expedia oder
Travelocity.
Soll könnte würde, toller Beitrag!
@STEPHAN
Nenn mir eine Aktie aus dem Internetbereich wo du Garantie auf einen positiven Geschäftsverlauf bekommst.
Nenn mir eine Aktie aus dem Internetbereich wo du Garantie auf einen positiven Geschäftsverlauf bekommst.
Außerdem weiß ich im Moment ob sich positive Zukunftsaussichten, und Reiseländer Kanda und USA miteinander vertragen. Der Stellenabbau der Airlines wird auch hier nicht spurlos vorbeiziehen!
Hallo,
Ich habe heute für ein Taschengeld von 120 Euro noch mal
4000 TBU gekauft und bin mir sicher das daraus mein
größter prozentualer Gewinn wird, den ich je an der Börse
gemacht habe.
Wenn ich daran denke das ich einige Tausend Stücke noch
für 3 Euro gekauft habe, kann ich den heutigen Kurs kaum
glauben.
Ich hoffe immer noch auf gute Zahlen und dann geht der Kurs
ab. Aber auch eine Übernahme würde deutlich höhere Kurse
nach sich ziehen.
Ich habe heute für ein Taschengeld von 120 Euro noch mal
4000 TBU gekauft und bin mir sicher das daraus mein
größter prozentualer Gewinn wird, den ich je an der Börse
gemacht habe.
Wenn ich daran denke das ich einige Tausend Stücke noch
für 3 Euro gekauft habe, kann ich den heutigen Kurs kaum
glauben.
Ich hoffe immer noch auf gute Zahlen und dann geht der Kurs
ab. Aber auch eine Übernahme würde deutlich höhere Kurse
nach sich ziehen.
Hallo,
Trip in Amerika 50%im Plus, zwar auf lächerlichem Niveau
aber es könnte sich was tun.
Dafür sprechen auch die relativ hohen Umsätze der letzten
Tage in Kanada.
Trip in Amerika 50%im Plus, zwar auf lächerlichem Niveau
aber es könnte sich was tun.
Dafür sprechen auch die relativ hohen Umsätze der letzten
Tage in Kanada.
Hallo,
Expedia kooperiert mit Amazon, der Onlinereiseanbieter stellt dem Internetkaufhaus seine gesamte Produktpalette
zur Verfügung.
Solche News könnte TBU auch gebrauchen, z.b. AOL beteiligt
sich an TBU.
Jetzt heißt es aber erstmal auf die Zahlen warten und
hoffen.
Expedia kooperiert mit Amazon, der Onlinereiseanbieter stellt dem Internetkaufhaus seine gesamte Produktpalette
zur Verfügung.
Solche News könnte TBU auch gebrauchen, z.b. AOL beteiligt
sich an TBU.
Jetzt heißt es aber erstmal auf die Zahlen warten und
hoffen.
@ass3000
Wann genau kommen die Zahlen?
Gruss
TomSec
Wann genau kommen die Zahlen?
Gruss
TomSec
@tom sec
Hallo,
Laut Unternehmen sollen die Zahlen bis 30. September kommen.
Diesen Termin bestätigte mir auch die IR-Abteilung in Deutschland (Hr. Pickert).
Hallo,
Laut Unternehmen sollen die Zahlen bis 30. September kommen.
Diesen Termin bestätigte mir auch die IR-Abteilung in Deutschland (Hr. Pickert).
Ok, nun geht´s wohl los...
Ich nehm doch mal an, dass
alle hier ihre Fahrscheine
schon gelöst haben
showDown
Ich nehm doch mal an, dass
alle hier ihre Fahrscheine
schon gelöst haben
showDown
+++ WANN KOMMEN ENDLICH NEWS +++
Auch wenn es keinem momentan hilft:
Hier lediglich eine Antwort von Heather martin:
Lothar:
I have been working every day this week from 7.30 am till 9.00 pm at night
trying to get certain things completed. I apologize for not calling you
back.
If there are any specific questions you need answered, please email me and I
will try and answer.
Please help me this one instance.
Heather
Hier lediglich eine Antwort von Heather martin:
Lothar:
I have been working every day this week from 7.30 am till 9.00 pm at night
trying to get certain things completed. I apologize for not calling you
back.
If there are any specific questions you need answered, please email me and I
will try and answer.
Please help me this one instance.
Heather
Hallo
??????Was geht ab??????
Symbol
TRIP.OB
Ticker symbol has changed to: TRIPE.OB
http://ca.finance.yahoo.com/q?m=w&s=trip.ob&d=v1
??????Was geht ab??????
Symbol
TRIP.OB
Ticker symbol has changed to: TRIPE.OB
http://ca.finance.yahoo.com/q?m=w&s=trip.ob&d=v1
Wahrscheinlich "E" wie ECO
Sie lassen sich damit auch in
1/1000tel Geldeinheiten handeln *g*
Welche Info auch immer von diesem
Trümmerladen kommt: Sie ist unwahr.
Von aktuellen Zahlen keine Spur.
Finanzierung: nix.
Stattdessen vielleicht ein
"schöngerechneter" Q3 Abschluss?
Man sollte vielleicht im TBU Headquarter
einfach die Fenster und Türen von außen
vergittern - die meisten dadrinnen scheinen
es verdient zu haben.
-showDown-
Sie lassen sich damit auch in
1/1000tel Geldeinheiten handeln *g*
Welche Info auch immer von diesem
Trümmerladen kommt: Sie ist unwahr.
Von aktuellen Zahlen keine Spur.
Finanzierung: nix.
Stattdessen vielleicht ein
"schöngerechneter" Q3 Abschluss?
Man sollte vielleicht im TBU Headquarter
einfach die Fenster und Türen von außen
vergittern - die meisten dadrinnen scheinen
es verdient zu haben.
-showDown-
All Security Symbols appended with an "E" will be ineligible for quotation
and subject to removal from the
OTCBB in 30 calendar days (60 days if denoted with a plus sign "+") if
the NASD does not receive
information indicating that the company is current in its public
reporting obligations pursuant to Rule 6530.
and subject to removal from the
OTCBB in 30 calendar days (60 days if denoted with a plus sign "+") if
the NASD does not receive
information indicating that the company is current in its public
reporting obligations pursuant to Rule 6530.
No comment...
it´s not a trick - it´s tbu!
(Tse, die kann man nicht mal
zum Milch holen schicken...)
it´s not a trick - it´s tbu!
(Tse, die kann man nicht mal
zum Milch holen schicken...)
habe soeben mit Heather telefoniert.
E bedeutet lediglich, daß binnen der nächsten
30 Tage die nächsten Quarter Results veröffentlicht
werden müssen.
Das ist alels, außerdem sagte Sie mir, daß das Financial
Dep.die kompletten 2 Jahren wegen dieser Zahlen
durchforstet.
Habe ich ehrlicherweise nicht ganz verstanden.
E bedeutet lediglich, daß binnen der nächsten
30 Tage die nächsten Quarter Results veröffentlicht
werden müssen.
Das ist alels, außerdem sagte Sie mir, daß das Financial
Dep.die kompletten 2 Jahren wegen dieser Zahlen
durchforstet.
Habe ich ehrlicherweise nicht ganz verstanden.
Hier mal etwas öffentliches für alle:
-----Original Message-----
From: Clay Hutchinson [mailto:Clay_Hutchinson@travelbyus.com]
Sent: Thursday, October 04, 2001 7:45 PM
To: Aimie Kopal; Chris Reinis; Dayna Jensen; Donna Burroughs; Jason Webb; Julie Gallagher; Kim Hanna; Kristina Waller; Lydia Holguin; Lynn Childs; Lynnette Rhodes; Marcie Helmers; Marie Buentiempo; Marjie Guise; Mary Kindgren; Marya Berg; Merry Von Brauch; Michael Dupont; Mike Pizza; Misty Grayknights; Myers, Heather; Niki Houk; Patricia Walters; Priscilla Aviles; Rebecca Beddoe; Roberta Jones; Ron Shipman; Scott Erwin; Sharon Hatcher; Sherri Spiva; Sylvia Tramondo; Theresa Ellis; Tim Simpson; Tom Spagnola; Virginia Larson-Edgar; Zelda Anderson; Adolf Quintana; Dan Livergood; Dinah Pecquet; Gary Brown; Jennifer James; Laura Rivera; Mike Wild; Roy Talbot; Scott Koepf; Jaye Hilton; Linda Packer; Anita Curtis; Pam Mitchell; Ron Blaylock; Scott Wasner; Tammy Hudkins; acctemp; Alex Franke; Allan Smith; Beth Boscarello; Betty Brothers; Bill Kerby; Catherine Martolin; Clay Hutchinson; Dick Smith; Eric Moyal; Fred Crandall; Gayle Stephens; Heather Martin; Jeannie Gear; Jeff Krieble; Jeff Marsden; Joe Orozco; Joyce Garlick; Keli McCabe; Kerry Brice; Korina Feaster; Laurie Scace; Lisa Gorman; Mike London; Monica Radu; Nanette Pederson; Oliver Puhr; Pat Hazeltine; Pat Lacy; Patrick Haley; Paul Carignan; Rhonda Leverett; Ron Bentley; Ron Kinkade; Shari Fabbi; Sharon Ritter; Stacy Thain; Susan Edwards; Susan Fiorito; Ted Parker; Terri McGee; Timi Curry; Tom Ryman; Training; Wendell Openshaw
Subject: FW: usnews.com Tech Best of the Web (10-8-01)
Travel
The world of travel changed dramatically after September 11. Whether you`re in search of details or in need of escape, here are some sites that can help:
• www.onetravel.com
Expert Terry Trippler offers practical advice in time of crisis. E-tickets still make sense, according to the site. Just bring along a confirmation printout from your travel agent or your airline`s Web site.
• www.expedia.com
Check out the new airport-by-airport security procedures update and you`ll find some interesting details: Don`t look for any knives in the concourse restaurants at Dallas-Fort Worth International, for example–they`ve been banned. And airport barbers there can`t use scissors or straight razors either; they`re deemed security risks.
• www.cruisecritic.com
The tragedies have affected the cruise lines, too, and this site gives passengers details they need. The Port of New York is closed indefinitely, for example. Carnival is providing shuttles to Boston for departures there instead. Passengers who use the service get a $100 shipboard credit; those who find their own way up get $200.
• www.travelbyus.com
This site`s ITA Software search engine is still one of the best. It`s also the place to go for specials on flights and cruises, of which there are plenty right now. Royal Caribbean and Celebrity are offering a $200 discount on cruises to the Caribbean, Alaska, and Mexico, for example.
-----Original Message-----
From: Clay Hutchinson [mailto:Clay_Hutchinson@travelbyus.com]
Sent: Thursday, October 04, 2001 7:45 PM
To: Aimie Kopal; Chris Reinis; Dayna Jensen; Donna Burroughs; Jason Webb; Julie Gallagher; Kim Hanna; Kristina Waller; Lydia Holguin; Lynn Childs; Lynnette Rhodes; Marcie Helmers; Marie Buentiempo; Marjie Guise; Mary Kindgren; Marya Berg; Merry Von Brauch; Michael Dupont; Mike Pizza; Misty Grayknights; Myers, Heather; Niki Houk; Patricia Walters; Priscilla Aviles; Rebecca Beddoe; Roberta Jones; Ron Shipman; Scott Erwin; Sharon Hatcher; Sherri Spiva; Sylvia Tramondo; Theresa Ellis; Tim Simpson; Tom Spagnola; Virginia Larson-Edgar; Zelda Anderson; Adolf Quintana; Dan Livergood; Dinah Pecquet; Gary Brown; Jennifer James; Laura Rivera; Mike Wild; Roy Talbot; Scott Koepf; Jaye Hilton; Linda Packer; Anita Curtis; Pam Mitchell; Ron Blaylock; Scott Wasner; Tammy Hudkins; acctemp; Alex Franke; Allan Smith; Beth Boscarello; Betty Brothers; Bill Kerby; Catherine Martolin; Clay Hutchinson; Dick Smith; Eric Moyal; Fred Crandall; Gayle Stephens; Heather Martin; Jeannie Gear; Jeff Krieble; Jeff Marsden; Joe Orozco; Joyce Garlick; Keli McCabe; Kerry Brice; Korina Feaster; Laurie Scace; Lisa Gorman; Mike London; Monica Radu; Nanette Pederson; Oliver Puhr; Pat Hazeltine; Pat Lacy; Patrick Haley; Paul Carignan; Rhonda Leverett; Ron Bentley; Ron Kinkade; Shari Fabbi; Sharon Ritter; Stacy Thain; Susan Edwards; Susan Fiorito; Ted Parker; Terri McGee; Timi Curry; Tom Ryman; Training; Wendell Openshaw
Subject: FW: usnews.com Tech Best of the Web (10-8-01)
Travel
The world of travel changed dramatically after September 11. Whether you`re in search of details or in need of escape, here are some sites that can help:
• www.onetravel.com
Expert Terry Trippler offers practical advice in time of crisis. E-tickets still make sense, according to the site. Just bring along a confirmation printout from your travel agent or your airline`s Web site.
• www.expedia.com
Check out the new airport-by-airport security procedures update and you`ll find some interesting details: Don`t look for any knives in the concourse restaurants at Dallas-Fort Worth International, for example–they`ve been banned. And airport barbers there can`t use scissors or straight razors either; they`re deemed security risks.
• www.cruisecritic.com
The tragedies have affected the cruise lines, too, and this site gives passengers details they need. The Port of New York is closed indefinitely, for example. Carnival is providing shuttles to Boston for departures there instead. Passengers who use the service get a $100 shipboard credit; those who find their own way up get $200.
• www.travelbyus.com
This site`s ITA Software search engine is still one of the best. It`s also the place to go for specials on flights and cruises, of which there are plenty right now. Royal Caribbean and Celebrity are offering a $200 discount on cruises to the Caribbean, Alaska, and Mexico, for example.
Das ist alels, außerdem sagte Sie mir, daß das Financial
Dep.die kompletten 2 Jahren wegen dieser Zahlen
durchforstet.
realhot:
Sie werden ihre Gründe haben, dieses zu tun.
Ich schließe nicht aus, dass tbu sich um
Kopf und Kragen rechnet.
Würde nur zu dem Bild passen, was tbu ohnehin
die letzten 1.5 Jahre abgegeben hat.
Dep.die kompletten 2 Jahren wegen dieser Zahlen
durchforstet.
realhot:
Sie werden ihre Gründe haben, dieses zu tun.
Ich schließe nicht aus, dass tbu sich um
Kopf und Kragen rechnet.
Würde nur zu dem Bild passen, was tbu ohnehin
die letzten 1.5 Jahre abgegeben hat.
An e-mail received today from Heather Martin suggests filing will take place this week. Lets wait
and see!!!!
mailer:serious player
im stockhouse bullboard
gruss
bill bo
and see!!!!
mailer:serious player
im stockhouse bullboard
gruss
bill bo
Hat irgendjemand das Gefühl, dass die kommenden Zahlen irgendjemanden positiv überraschen werden?
Wie ist das mit der Finanzierung: kann man annehmen, dass die nun endgültig geplatzt ist?
Frito
Wie ist das mit der Finanzierung: kann man annehmen, dass die nun endgültig geplatzt ist?
Frito
im gefühl hab ich es schon, aber wissen tu ich es nicht!
wer weiß überhaupt schon noch was bei tbu???????
gruss
bill bo
wer weiß überhaupt schon noch was bei tbu???????
gruss
bill bo
Welcome to travelbyus
--------------------------------------------------------------------------------
travelbyus is pleased to have been recognized in USNews.com`s "Best of the Web" column as having one of the best software search engines available, as well as being "the place to go for specials on flights and cruises, of which there are plenty right now." (10/8/2001)
http://www.travelbyus.com/execute/1/ASP/Main.asp?MID=23&sour…
--------------------------------------------------------------------------------
travelbyus is pleased to have been recognized in USNews.com`s "Best of the Web" column as having one of the best software search engines available, as well as being "the place to go for specials on flights and cruises, of which there are plenty right now." (10/8/2001)
http://www.travelbyus.com/execute/1/ASP/Main.asp?MID=23&sour…
@ mis
Doch nicht immer wieder die alten Gurken bringen, das kennen doch schon alle.
Doch nicht immer wieder die alten Gurken bringen, das kennen doch schon alle.
Hier eine Antwort von gestern:
I just received Convention Highlights.
Our sales were up 38% through August 31, and since the attack on NY we are
struggling to recover our business, so with all due respect, I do not have
time to act as investor relations, as well as run my business.
Realhot
I just received Convention Highlights.
Our sales were up 38% through August 31, and since the attack on NY we are
struggling to recover our business, so with all due respect, I do not have
time to act as investor relations, as well as run my business.
Realhot
Hier die News:
travelbyus Responds to Weakened Travel Environment; Company Announces Substantial Expense Reductions
RENO, Nevada, Oct. 16 /CNW/ -- travelbyus (Toronto: TBU;
Frankfurt: TVB; Boston: TBY; OTC Bulletin Board: TRIPZ) announced today that
the Company and its various subsidiaries have completed a reduction in force
that resulted in the elimination of 51 positions. The reduction represents
approximately 45% of the Company`s employees. These actions are a direct
result of the adverse effects on the demand for vacation travel caused by the
weakening economy in the aftermath of last month`s terrorist attacks on the
United States. The primary job cuts centered on the Reno reservation center,
but also affected employees at other levels of the Company, including
management, technology and back office support. In addition, the Company will
further reduce operating costs by consolidating certain office locations and
discontinuing its wholesale product division.
"These job eliminations are very painful, but the actions had to be taken
to preserve the operational viability of the Company," said Bill Kerby, CEO.
"All of the resources of the Company are now directed towards the
strengthening of our travel agency network and maximizing the revenues of
Cheap Seats Travel, our air consolidator component."
The staff and facilities reductions are necessitated by the Company`s need
to align operational expenses with projected revenues. The changes are
designed to eliminate non-core business segments that fail to generate
revenues in excess of operational expenses. The Company will focus on its
primary business of maximizing preferred vendor revenues by delivering
marketing, technology and other services to its travel agency distribution
network. In addition, the Company will seek opportunities to expand the market
share of its Cheap Seats air consolidator segment.
travelbyus is a vertically integrated travel company. Through the use of
proprietary technology, the Company`s website links its unique travel packages
and services to its member travel agencies and consumers. Its patent pending
business model enables it to offer the right product to the right customer at
the right time.
Statements made in this release concerning the manner in which we intend
to conduct our future operations and our expectations or objectives are
forward-looking statements. We may be unable to realize our objectives due to
various important factors, including, but not limited to the following: the
travel industry in which we compete is highly competitive and our principal
competitors have substantially greater resources and more favorable operating
results than we have. Unfavorable general economic conditions significantly
affect discretionary travel and leisure activities on which our business is
substantially dependent. We continue to incur substantial losses in our
operations, and consequently, we have found it necessary to regularly seek
additional debt financing, often at high interest rates. No assurance can be
given that such short-term financing will continue to be available to us or
that we will be able to obtain long-term financing to retire our existing
short-term and other debt when due. Additional important factors are discussed
under "Forward-Looking Statements" in part 1, item 2 of our 10-QSB for the
quarter ended March 31, 2001 which is available through the SEC`s Edgar
Website at http://www.sec.gov or will be provided to you at no charge upon
request made to us.
For further information: Jeff Krieble of travelbyus, +1-954-714-3260,
ext. 4614
/Web site: http://www.travelbyus.com
TRAVELBYUS has 4 releases in this database.
travelbyus Responds to Weakened Travel Environment; Company Announces Substantial Expense Reductions
RENO, Nevada, Oct. 16 /CNW/ -- travelbyus (Toronto: TBU;
Frankfurt: TVB; Boston: TBY; OTC Bulletin Board: TRIPZ) announced today that
the Company and its various subsidiaries have completed a reduction in force
that resulted in the elimination of 51 positions. The reduction represents
approximately 45% of the Company`s employees. These actions are a direct
result of the adverse effects on the demand for vacation travel caused by the
weakening economy in the aftermath of last month`s terrorist attacks on the
United States. The primary job cuts centered on the Reno reservation center,
but also affected employees at other levels of the Company, including
management, technology and back office support. In addition, the Company will
further reduce operating costs by consolidating certain office locations and
discontinuing its wholesale product division.
"These job eliminations are very painful, but the actions had to be taken
to preserve the operational viability of the Company," said Bill Kerby, CEO.
"All of the resources of the Company are now directed towards the
strengthening of our travel agency network and maximizing the revenues of
Cheap Seats Travel, our air consolidator component."
The staff and facilities reductions are necessitated by the Company`s need
to align operational expenses with projected revenues. The changes are
designed to eliminate non-core business segments that fail to generate
revenues in excess of operational expenses. The Company will focus on its
primary business of maximizing preferred vendor revenues by delivering
marketing, technology and other services to its travel agency distribution
network. In addition, the Company will seek opportunities to expand the market
share of its Cheap Seats air consolidator segment.
travelbyus is a vertically integrated travel company. Through the use of
proprietary technology, the Company`s website links its unique travel packages
and services to its member travel agencies and consumers. Its patent pending
business model enables it to offer the right product to the right customer at
the right time.
Statements made in this release concerning the manner in which we intend
to conduct our future operations and our expectations or objectives are
forward-looking statements. We may be unable to realize our objectives due to
various important factors, including, but not limited to the following: the
travel industry in which we compete is highly competitive and our principal
competitors have substantially greater resources and more favorable operating
results than we have. Unfavorable general economic conditions significantly
affect discretionary travel and leisure activities on which our business is
substantially dependent. We continue to incur substantial losses in our
operations, and consequently, we have found it necessary to regularly seek
additional debt financing, often at high interest rates. No assurance can be
given that such short-term financing will continue to be available to us or
that we will be able to obtain long-term financing to retire our existing
short-term and other debt when due. Additional important factors are discussed
under "Forward-Looking Statements" in part 1, item 2 of our 10-QSB for the
quarter ended March 31, 2001 which is available through the SEC`s Edgar
Website at http://www.sec.gov or will be provided to you at no charge upon
request made to us.
For further information: Jeff Krieble of travelbyus, +1-954-714-3260,
ext. 4614
/Web site: http://www.travelbyus.com
TRAVELBYUS has 4 releases in this database.
Hallo ich bin der Neue,
am 12.10.20001 sind meine TBU-Aktien von WKN 626736 auf 626514 im VerhSltnis 5:1 gemSÛ eines frôheren Auftrages, welcher angefragt wurde, umgetauscht wurden.
Nur ich finde nirgends die WKN 626514.
Ich bin absoluter Laie. Was habe ich falsch gemacht und wer sagt mir wie ich den Kurswert f. WKN626514 noch verfolgen kann. Welche Empfehlung gebt ihr mir.
Danke fÙr eure Hinweise
am 12.10.20001 sind meine TBU-Aktien von WKN 626736 auf 626514 im VerhSltnis 5:1 gemSÛ eines frôheren Auftrages, welcher angefragt wurde, umgetauscht wurden.
Nur ich finde nirgends die WKN 626514.
Ich bin absoluter Laie. Was habe ich falsch gemacht und wer sagt mir wie ich den Kurswert f. WKN626514 noch verfolgen kann. Welche Empfehlung gebt ihr mir.
Danke fÙr eure Hinweise
Hallo TBU`ler
Habe soeben auf Stockwatch.com gesehen,das da keine Order
für TRIPE stehen !!!
Sym-X Bid - Ask Last Chg % Vol $Vol #tr Open-Hi-Lo Year Hi-Lo last trade News
TRIPE - Q no orders 0.020 3.000 0.015 Nov 5 15:52
Was bedeutet das ???
Es wird spannend
mis
Habe soeben auf Stockwatch.com gesehen,das da keine Order
für TRIPE stehen !!!
Sym-X Bid - Ask Last Chg % Vol $Vol #tr Open-Hi-Lo Year Hi-Lo last trade News
TRIPE - Q no orders 0.020 3.000 0.015 Nov 5 15:52
Was bedeutet das ???
Es wird spannend
mis
wer weiß was das bedeutet?
TRIPE n/c bei nasdaq
neueste nachrichten werden angezeigt, aber nicht die filings.
das letzte filing war noch termingerecht, trotzdem delisted
oder was
ein ratloser bill bo bittet um aufklärung.
danke
TRIPE n/c bei nasdaq
neueste nachrichten werden angezeigt, aber nicht die filings.
das letzte filing war noch termingerecht, trotzdem delisted
oder was
ein ratloser bill bo bittet um aufklärung.
danke
Hier eine Antwort von Herr Krieble auf einige Fragen.
Diese e-mail ist 1 Stunde alt und nicht die, auf die
ich noch warte (Antwort meiner Fragen).
Herr Krieble weiß, daß ich diese veröffentliche:
Dear Mr xx,
I do appreciate your comments. Based on your call yesterday I did send out
a couple of emails to get some clarity about your inquiries.
I believe you are very right when you said to me that we need some positive
press.
I want you to know that we are working on a few developments that at least
indicate that the company is making efforts to move forward and move on into
more positive territory.
As you know, my role is not on the financial side of the company, but rather
on the conceptual positioning, the agency/web site strategy, and sales.
In these areas, Travelbyus has a product who`s time has come. I will send
to you the lastest story in Travel Weekly, a major trade magazine that
clearly supports the business model Bill outlined when he started
Travelbyus.
I will do my best to keep you informed.
In regard to the rumors of my having left the company, clearly that is not
the case. If you want to correct that inaccuracy, please feel free to do
so.
Best Regards,
Jef Krieble
Diese e-mail ist 1 Stunde alt und nicht die, auf die
ich noch warte (Antwort meiner Fragen).
Herr Krieble weiß, daß ich diese veröffentliche:
Dear Mr xx,
I do appreciate your comments. Based on your call yesterday I did send out
a couple of emails to get some clarity about your inquiries.
I believe you are very right when you said to me that we need some positive
press.
I want you to know that we are working on a few developments that at least
indicate that the company is making efforts to move forward and move on into
more positive territory.
As you know, my role is not on the financial side of the company, but rather
on the conceptual positioning, the agency/web site strategy, and sales.
In these areas, Travelbyus has a product who`s time has come. I will send
to you the lastest story in Travel Weekly, a major trade magazine that
clearly supports the business model Bill outlined when he started
Travelbyus.
I will do my best to keep you informed.
In regard to the rumors of my having left the company, clearly that is not
the case. If you want to correct that inaccuracy, please feel free to do
so.
Best Regards,
Jef Krieble
Hier etwas konkretes zu den Zahlen:
Susan, as disclosed in the just filed 10-Q total liabilities at 06-30-01
(Q3) amounted to $53.9 million, of which $30.3 million was current notes
payable and $4.9 million was reflected as long-term debt. Net sales were
reported to be $3,653,000. Net sales represents gross air ticket revenues
less the amounts paid to the Airline Reporting Corporation (ARC). The
company never has ownership of the inventory of ticket stock and therefore
gross revenues are reduced accordingly to arrive at "Net Sales."
-----Original Message-----
From: Susan Fiorito
Sent: Monday, November 05, 2001 5:17 AM
To: Tom Ryman
Subject: Financials
Tom,
Had an investor call in today asking me what the Net Revenue and Net Losses
are for the Q3. He was also asking about the long term debt, he understood
from the financials it was $240 million. Is this correct?
Thanks
Susan
Susan, as disclosed in the just filed 10-Q total liabilities at 06-30-01
(Q3) amounted to $53.9 million, of which $30.3 million was current notes
payable and $4.9 million was reflected as long-term debt. Net sales were
reported to be $3,653,000. Net sales represents gross air ticket revenues
less the amounts paid to the Airline Reporting Corporation (ARC). The
company never has ownership of the inventory of ticket stock and therefore
gross revenues are reduced accordingly to arrive at "Net Sales."
-----Original Message-----
From: Susan Fiorito
Sent: Monday, November 05, 2001 5:17 AM
To: Tom Ryman
Subject: Financials
Tom,
Had an investor call in today asking me what the Net Revenue and Net Losses
are for the Q3. He was also asking about the long term debt, he understood
from the financials it was $240 million. Is this correct?
Thanks
Susan
Kriebel´s Optimismus ist aufmunternd
aber wirklich nicht nachvollziehbar-
hoffentlich befindet er sich nicht im
falschen Film...
(Ich denk da gerade an die Haffas´ ;-))
Und hoffentlich weiß der CFO auch ganz
genau, was er tut.
showDown
aber wirklich nicht nachvollziehbar-
hoffentlich befindet er sich nicht im
falschen Film...
(Ich denk da gerade an die Haffas´ ;-))
Und hoffentlich weiß der CFO auch ganz
genau, was er tut.
showDown
Schaut euch in den nächsten Tagen einmal Silicon Sensor an! 720190. Wird vielleicht nicht grad morgen den Hype starten, aber in den nächsten Tagen kann hier einiges losgehen! Gerüchte einer Übernahme von Siemens...außerdem kommt am 20.11. der Quartalsbericht, mit wieder sehr guten Zahlen, ungebrochen starkem Wachstum und meiner Meinung nach auch wieder einer Prognoseerhöhung für das laufende Jahr!
Viel Spaß
Übrigens zu empfehlen: Broadvision, CE Consumer (bald Zahlen), Hongkong.com (kleine Wachstumsinternet-Perle), Senator (bald Zahlen), Nokia, Siemens, und zum Spielen vielleicht eine kleine Letsbuyit-Posotion.
Grüße, Thomas
Viel Spaß
Übrigens zu empfehlen: Broadvision, CE Consumer (bald Zahlen), Hongkong.com (kleine Wachstumsinternet-Perle), Senator (bald Zahlen), Nokia, Siemens, und zum Spielen vielleicht eine kleine Letsbuyit-Posotion.
Grüße, Thomas
Ach ja und die Stellungnahme zu
der Änderung des Disclaimer unter
den letzten News - ihr wißt was ich
meine - würde mich seit einiger Zeit
schon interessieren.
Es ist definitiv eine rechtliche
Absicherung, eingeführt etwa Mitte
Sommer diesen Jahres.
showDown
der Änderung des Disclaimer unter
den letzten News - ihr wißt was ich
meine - würde mich seit einiger Zeit
schon interessieren.
Es ist definitiv eine rechtliche
Absicherung, eingeführt etwa Mitte
Sommer diesen Jahres.
showDown
"#32 von realhot 1 06.11.01 19:46:38 Beitrag Nr.:4.811.297
Hier etwas konkretes zu den Zahlen:
Susan, as disclosed in the just filed 10-Q total liabilities at 06-30-01
(Q3) amounted to $53.9 million, of which $30.3 million was current notes
payable and $4.9 million was reflected as long-term debt. Net sales were
reported to be $3,653,000. Net sales represents gross air ticket revenues
less the amounts paid to the Airline Reporting Corporation (ARC). The
company never has ownership of the inventory of ticket stock and therefore
gross revenues are reduced accordingly to arrive at "Net Sales."
-----Original Message-----
From: Susan Fiorito
Sent: Monday, November 05, 2001 5:17 AM
To: Tom Ryman
Subject: Financials
Tom,
Had an investor call in today asking me what the Net Revenue and Net Losses
are for the Q3. He was also asking about the long term debt, he understood
from the financials it was $240 million. Is this correct?
Thanks
Susan"
FROM 10QSB FIKED WITH SEC:
"Three Months Ended Nine Months Ended
------------------ -----------------
June 30, June 30,
--------- --------
2001 2000 2001 2000
---- ---- ---- ----
Net sales of services:
Travel 1,544 2,247 5,622 5,928
Technology 1,024 199 2,374 526
Other 1,085 535 1,470 1,410
--------------- ------------- ------------- ---------------
3,653 2,981 9,466 7,864"
--------------- ------------- ------------- ---------------
NET SALES TRAVEL?????????
Pat
Hier etwas konkretes zu den Zahlen:
Susan, as disclosed in the just filed 10-Q total liabilities at 06-30-01
(Q3) amounted to $53.9 million, of which $30.3 million was current notes
payable and $4.9 million was reflected as long-term debt. Net sales were
reported to be $3,653,000. Net sales represents gross air ticket revenues
less the amounts paid to the Airline Reporting Corporation (ARC). The
company never has ownership of the inventory of ticket stock and therefore
gross revenues are reduced accordingly to arrive at "Net Sales."
-----Original Message-----
From: Susan Fiorito
Sent: Monday, November 05, 2001 5:17 AM
To: Tom Ryman
Subject: Financials
Tom,
Had an investor call in today asking me what the Net Revenue and Net Losses
are for the Q3. He was also asking about the long term debt, he understood
from the financials it was $240 million. Is this correct?
Thanks
Susan"
FROM 10QSB FIKED WITH SEC:
"Three Months Ended Nine Months Ended
------------------ -----------------
June 30, June 30,
--------- --------
2001 2000 2001 2000
---- ---- ---- ----
Net sales of services:
Travel 1,544 2,247 5,622 5,928
Technology 1,024 199 2,374 526
Other 1,085 535 1,470 1,410
--------------- ------------- ------------- ---------------
3,653 2,981 9,466 7,864"
--------------- ------------- ------------- ---------------
NET SALES TRAVEL?????????
Pat
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-QSB
[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended June 30, 2001
OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from _____ to _____
Commission file number: 0-10124
travelbyus, Inc.
(Exact name of registrant as specified in its charter)
Texas 75-2631373
----- ----------
(State or other jurisdiction of (IRS Employer Identification No.)
incorporation or organization)
3237 King George Hwy, Suite 204
White Rock, British Columbia Canada V4P
--------------------------------------------------------------------------------
(Address of principal executive offices) (Zip Code)
Registrant`s telephone number, including area code: (604) 541-2400
700 North Pearl Street, Suite 2170 Dallas, Texas 75201
Former name, former address and former fiscal year, if changed since last report
Check whether the issuer (1) filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
Yes X No __
State the number of shares outstanding of each of the issuer`s classes of common equity, as of the latest practicable date.
29,281,896 shares of common stock were outstanding as of August 27, 2001.
Transitional Small Business Disclosure Format (check one):
Yes No X
--------------------------------------------------------------------------------
2
INDEX
PART I FINANCIAL INFORMATION...........................................3
Item 1. Financial Statements............................................3
Consolidated Balance Sheet at June 30, 2001 (unaudited) ......3
Consolidated Statements of Operations for the three and nine
months ended June 30, 2001 and June 30, 2000 (unaudited)....5
Consolidated Statements of Cash Flows for the nine months
ended June 30, 2001 and June 30, 2000 (unaudited)...........6
Notes to Unaudited Consolidated Financial Statements............7
Item 2. Management`s Discussion and Analysis or Plan
of Operation................................................20
PART II OTHER INFORMATION..............................................26
Item 1. Legal Proceedings..............................................26
Item 2. Changes in Securities and Use of Proceeds......................27
Item 3. Defaults Upon Senior Securities (not applicable)...............29
Item 4. Submission of Matters to a Vote of Security Holders
(not applicable).............................................29
Item 5. Other Information..............................................29
Item 6. Exhibits and Reports on Form 8-K ............................29
SIGNATURES
--------------------------------------------------------------------------------
PART I - FINANCIAL INFORMATION
ITEM 1. FINANCIAL STATEMENTS
travelbyus, Inc. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEET
(in thousands except per share amounts)
(unaudited)
June 30, 2001
ASSETS:
Current assets:
Cash and cash equivalents 591
Accounts receivable, net 2,542
Inventory and barter credits 608
Prepaid expenses and other current assets 893
Marketable securities 178
Receivable from AVR 1,500
Assets of discontinued operations 2,499
--------------
Total current assets 8,811
Goodwill, net 17,000
Assets of discontinued operations 2,151
Software, contracts and other intangible assets 16,106
Deposits and restricted cash 4,109
Property, plant and equipment, net 4,277
Other assets 576
--------------
Total assets 53,030
==============
3
--------------------------------------------------------------------------------
TRAVELBYUS, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEET
(in thousands except per share amounts)
(unaudited)
LIABILITIES AND STOCKHOLDERS` DEFICIT:
June 30, 2001
--------------
Current liabilities:
Bank indebtedness 568
Accounts payable and accrued liabilities 9,288
Notes payable and current portion of long-term debt 30,391
Deferred tax liability 892
Preferred dividends payable 480
Other current liabilities 1,482
Liabilities of discontinued operations 5,782
--------------
Total current liabilities 48,883
Long-term debt, net of current maturities 4,799
Due to related parties 222
--------------
Total liabilities 53,904
Stockholders` deficit:
Series B 12% cumulative preferred stock, $10,000 16,000
Liquidation preference
Common stock, $.01 par value; 250,000,000 shares 153,064
Authorized; 28,646,158 shares issued and outstanding
Additional paid-in capital 47,895
Accumulated deficit (217,833)
--------------
Total stockholders` deficit (874)
--------------
Total liabilities and stockholders` deficit 53,030
==============
The accompanying notes are an integral part of the unaudited consolidated financial statements.
4
--------------------------------------------------------------------------------
TRAVELBYUS, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands except per share amounts)
(unaudited)
Three months ended Nine months ended
June 30, June 30,
2001 2000 2001 2000
---- ---- ---- ----
Net sales 3,653 2,981 9,466 7,864
----------- ------------ ----------- ------------
Costs and expenses:
Cost of net sales 992 1,169 2,730 3,568
Selling, general and administrative 7,359 6,268 21,973 13,572
Depreciation and amortization 3,629 3,121 13,570 4,316
----------- ------------ ----------- ------------
Total costs and expenses 11,980 10,558 38,273 21,456
----------- ------------ ----------- ------------
Operating loss (8,327) (7,577) (28,807) (13,592)
Other expense:
Interest expense, net 3,718 208 6,057 1,670
Adjustment of Global Leisure goodwill 21,123 21,123
Write-off of programming library Advances 1,500
Employment Contract Settlement 680
----------- ------------ ----------- ------------
Pretax loss (33,168) (7,785) (58,167) (15,262)
Income tax (provision) recovery 2 286 3,196 286
----------- ------------ ----------- ------------
Loss from continuing operations (33,166) (7,499) (54,971) (14,976)
Loss from discontinued operations (91) (20)
----------- ------------ ----------- ------------
Loss before extraordinary item (33,257) (7,499) (54,991) (14,976)
Loss on repayment of debentures (699)
----------- ------------ ----------- ------------
Net loss (33,257) (7,499) (54,991) (15,675)
=========== ============ =========== ============
Loss per common share:
Loss from continuing operations ($1.33) ($0.60) ($2.33) ($1.20)
Loss from discontinued operations
and extraordinary items (0.06)
----------- ------------ ----------- ------------
Net loss per share (basic and diluted) ($1.33) ($0.60) ($2.33) ($1.26)
=========== ============ =========== ============
Weighted average shares outstanding (basic and diluted) 24,945,450 12,445,530 23,629,135 12,445,530
The accompanying notes are an integral part of the unaudited consolidated financial statements.
5
--------------------------------------------------------------------------------
TRAVELBYUS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
(unaudited)
Nine Months ended June 30,
---------------------------
2001 2000
---- ----
Cash flow from operating activities:
Net Loss for the period (54,991) (15,675)
Items not affecting cash:
Writedown of marketable securities 51
Depreciation and amortization 13,570 4,378
Reduction of deferred income tax credit (3,200) (201)
Valuation adjustments- goodwill 19,115
Valuation adjustments- intangibles & other assets 3,742
Net change in non-cash working capital items:
Increase in security deposits 192
Accounts receivable and prepaid expenses (869)
Inventory and barter credits (107)
Accounts payable, accrued liabilities, customer
deposits and other current liabilities 3,191 3,554
--------------------- -----------------------
Cash used by operations (19,306) (7,944)
--------------------- -----------------------
Cash flow from investing activities:
Cash paid for acquisitions (12,297)
Receivable from AVR (1,500)
Purchase of property and equipment (1,111) (1,771)
Investments (4,523)
Deposits and restricted cash (1,032)
Acquisition of Aviation Group and related valuation
Adjustments (8,732)
--------------------- -----------------------
Cash used by investing activities (11,343) (19,623)
--------------------- -----------------------
Cash flow from financing activities:
Bank borrowings 290
Non-bank borrowings 27,455
Issuance of notes payable 3,190
Share issue costs (2,050)
Issue of special warrants 13,512
Private placement 11,753
Exercise of options and warrants 3,781
Subscriptions received 707 1,973
Repayments to related parties (366)
--------------------- -----------------------
Cash provided by financing activities 28,086 32,159
Foreign exchange effect on cash 1,152 1,482
--------------------- -----------------------
Increase (decrease) in cash and cash equivalents (1,411) 6,074
Cash and cash equivalents, beginning of period 2,002 2,200
--------------------- -----------------------
Cash and cash equivalents, end of period 591 8,274
===================== =======================
The accompanying notes are an integral part of the unaudited consolidated financial statements.
6
--------------------------------------------------------------------------------
1. Nature of operations and going concern
(a) Nature of operations
travelbyus, Inc. (the "Company") is in the business of providing travel-related products and services targeted primarily at the leisure customer, including airline tickets and tour, cruise and group packages. The Company seeks to become a fully integrated travel network.
On January 25, 2001, Aviation Group, Inc., a Texas corporation, completed an arrangement (the "Arrangement") with travelbyus.com, Ltd., an Ontario corporation. Immediately prior to completion of the Arrangement, Aviation Group, Inc. changed its name to travelbyus, Inc. Under the terms of the Arrangement, Aviation Group, Inc. was the legal acquirer of travelbyus.com, Ltd. and travelbyus.com, Ltd. was the accounting acquirer. Accordingly, the historical financial information set forth herein is that of the accounting acquirer, travelbyus.com., Ltd. Current period financial results presented for the three and nine-month periods ended June 30, 2001 include only the results of travelbyus.com through January 25, 2001, the date the Arrangement was effectuated. For the balance of the three and nine-month periods ended June 30, 2001, the results of both constituent companies to the Arrangement are included.
The Company has disposed or is currently seeking to dispose of its assets that are unrelated to its travel businesses, principally those that were historically a part of Aviation Group, Inc. These non-travel related assets, liabilities and operations are presented as held for sale or discontinued at their estimated liquidation value. See also Note 13.
As used herein, the term the "Company" refers to the combined company or, prior to the Arrangement, either of the constituent companies, unless a distinction between the constituent companies is required. In any instance in which such distinction is required, the term "Aviation Group" refers to Aviation Group, Inc. prior to the Arrangement and the term "travelbyus.com" refers to travelbyus.com, Ltd. prior to the Arrangement.
(b) Going concern
These financial statements have been prepared using generally accepted accounting principles ("GAAP") applicable to a going concern. The Company incurred a net loss, before write-off and amortization of goodwill, of approximately $36 million during the nine months ended June 30, 2001, had an accumulated deficit of approximately $218 million, and a working capital deficiency of approximately $40 million, at the end of the period. The Company has continued to incur losses subsequent to the period end. The Company used cash of approximately $19 million to fund operations during the nine-month period. In addition, substantially all of the Company`s assets are provided as security for various financings. Management estimates that financing facilities currently available are insufficient to maintain operations and repay obligations due or coming due in the coming year. The Company will require new sources of financing, a restructuring of its existing obligations or forbearance of its loan agreements, in order to continue its operations and satisfy its obligations in the normal course. Accordingly, the use of generally accepted accounting principles applicable to a going concern may not be appropriate because substantial doubt exists with respect to the Company`s ability to continue as a going concern.
Management is addressing this situation by attempting to financially restructure its debt, to raise additional financing, to eliminate redundant and unnecessary costs and to realize the revenue potential of its recent acquisitions, products and services. No assurance can, however, be given that management will be successful in these efforts.
7
--------------------------------------------------------------------------------
These financial statements do not reflect any adjustments to the carrying value of assets and liabilities, the estimated useful lives of assets, the reported revenues and expenses and balance sheet classifications used that would be necessary if the going concern assumption were not appropriate. Such adjustments could be material.
2. Programming library
The Company acquired a media library. During the three months ended December 31, 2000, the Company received the balance of the first 40 episodes and has therefore reclassified the remaining balance of advances for programming services to the programming library. In addition, the Company capitalized and accrued for the remaining balance of advances due, $1.5 million with respect to the 40 new episodes. These advances were written off during the period to reducethe carrying value of the programming library down to the estimated fair value.
3. Software and other assets
Pursuant to the terms of the share purchase agreement for Muffin Communications Ltd., the share consideration given for the rights to the wireless contract was subject to adjustment based on the trading price of the common shares of travelbyus.com on December 15, 2000. The combination of shares and/or cash to be paid or given to maintain the total consideration of $6.7 million or $6.70 per share pursuant to the adjustment formula, was to be decided by travelbyus.com. During the quarter ended December 31, 2000, the required value of additional consideration of $6.3 million was expensed due to the continued significant uncertainty about the level of revenues expected to be derived from the underlying wireless customer base. During the quarter ended June 30, 2001, the Company issued 10,355,932 shares of travelbyus.com Ltd. (Canadian) shares (equivalent to 2,071,186 shares of travelbyus Inc. (U.S.) shares) into a trust account, in order to satisfy its additional obligation under the agreement, pending the outcome of related litigation.
4. Termination of Relationship with American Vacation Resorts, Inc.
On April 13, 2001, the United States District Court for the Northern District of Illinois, entered an order granting a motion to approve the sale of certain assets of Med Resorts International, Inc. ("MRI") to American Vacation Resorts, Inc. ("AVR"), a corporation in which the Company and Malcolm Wright each held a 50% beneficial interest, subject to the issuance or reservation of shares representing 17.5% of the AVR`s outstanding common stock under an equity incentive program for current or future management personnel of AVR. The assets of MRI consist principally of notes of MRI`s vacation club members, three hotels and certain condominium units and time-share intervals in hotel and resort properties. MRI was placed in receivership in August, 2000 in an action filed against it by the Federal Trade Commission and the Commonwealth of Virginia in the United States District Court for the Northern District of Illinois.
The Company subsequently purported to exercise an option to acquire the 50% of the common stock of AVR held by Mr. Wright. As previously disclosed in the Company`s quarterly report on Form 10-QSB for the quarter ended March 31, 2001, the Company had neither resolved all issues concerning the terms of the option exercise nor entered into definitive agreements for the transfer of Mr. Wright`s interest in AVR. The Company subsequently concluded that, under the terms of the court`s order, the transfer could not become effective for a 10-year period. In order to resolve this and other issues before the court (under the continuing jurisdiction over the MRI matter that it had retained), the Company elected to relinquish its interest in AVR in consideration of the right to receive a return of its $1.5 million capital contribution to AVR (subject to reduction for legal expenses of the parties incurred in connection with the court proceedings), payable in amounts equal to 50% of any new capital raised by AVR, if any, and otherwise on a subordinated basis from excess cash flow, if any. These payments are to commence only if the Company obtains releases of the liens on the AVR assets securing obligations of the Company in the original principal amount of $5.1 million, which it is presently seeking to do. The Company also agreed to advance an additional $175,000 to an escrow account to pay legal fees in connection with this matter (which payments were made in two installments in July and August 2001). Separately, the Company negotiated agreements with Mr. Wright, AVR and other corporations controlled by Mr. Wright under which the parties agreed to mutual releases and the Company received the right to the return of the $200,000 it had advanced to Mr. Wright and other consideration unrelated to AVR.
Under the terms of a stipulated order of the court, the Company will neither have any continuing ownership rights in AVR (and, therefore, AVR will not be a subsidiary of the Company) nor have any role in the management or operations of AVR, except that the Company will continue to provide travel fulfillment services to AVR on a non-exclusive basis and, until it obtains releases of the liens on AVR assets securing obligations in the original principal amount of $5.1 million, certain of the Company`s guaranties of AVR`s obligations will remain in place. The Company committed to cause these liens to be released no later than September 30, 2001, and AVR will not guarantee or pledge its assets to support or secure any obligations of the Company. At October 31, 2001, the Company had entered into definitive agreements or reached understandings to release the liens respecting $3.6 million principal amount of this indebtedness (although written documentation has not been completed or forwarded to AVR). The holder of the remaining $1.5 million of debt has not agreed to release its liens. The Company has failed to satisfy its obligations under the terms of the order. Among other consequences, unless the Company obtains releases of all liens (as to which no assurance can be given), and a modification to the order is negotiated and entered (as to which there have been no discussions initiated and thus, no indication that a modification will be considered), the Company`s guaranties of AVR`s obligations will not be released and the Company will relinquish its rights to repayment of the amounts it advanced to or on behalf of AVR.
5. Credit facilities, notes and debt
Credit facilities utilized, due and payable at June 30, 2001, are as follows (in thousands):
Bank Indebtedness (a) $ 568
Notes Payable & Current Portion of Long-Term-Debt (b) 30,391
Long-term Debt (net of current maturities) (c) 4,799
Non-current Debt to Related Party 222
----------
TOTAL $35,980
(a) Bank indebtedness consists of a single obligation under a
revolving credit agreement.
(b) The following table summarizes the detail and terms of the various loans comprising the current portion of notes payable and long-term debt:
Lender/ Principal Interest
Description Amount Rate
Senior Redeemable Debentures (i) $ 6,262 12.5%
Pelham Funds Note (ii) 1,887 12.0%
Debt Related to AVR (Note 4) (iii) 5,050 (See iii)
DCM Asylum LLC (iv) 2,400 12.0%
DCM KG LLC Convertible Loan (v) 1,367 12.5%
Convertible Bridge Notes (vi) 10,625 12.0%
Aberdeen Loan (vii) 1,000 12.0%
Amadeus (viii) 1,000 8.0%
Sadler Loan (ix) 300 12.0%
Starside Loan (x) 500 12.0%
(b)(i) In September, 1999, the Company`s Travelbyus.com Incorporated subsidiary issued CND $12.0 million (approximately U.S. $8 million) principal amount of its senior redeemable debentures. In March 2000, the issuer offered early redemption of the debentures of which approximately CND $2.8 million was retired. The debentures bear interest at a rate of 12.5% per annum, payable semi-annually, and matured on September 9, 2001. The Company recently concluded discussions with the Lead Agent, Wellington West Capital, Inc. and has had the repayment date for both principal and interest extended 15 months, to December 2002. The parties are in the process of preparing final documentation, and the Company has agreed to compensate Wellington West with a Rollover Fee equal to 2% of the aggregate principal amount of the debentures outstanding. One-half of this fee will be paid in cash and the other half will be paid for with common stock of the Company, at an issue price equal to the weighted average trading price of the shares for the prior 20 trading days. This will equal approximately 4.0 million shares of the Company`s common stock.
(b)(ii) The Company borrowed $3.0 million from Pelham Investment Fund on May 9, 2000. In June 2001 $1.2 million was paid toward the principal balance from proceeds of the Aero Design sale. The original promissory note required quarterly interest payments at an annual rate of 12%, and matured February 2001. The Company previously entered into a forbearance agreement with the lender that extended the payment date to September 2001. The balance of this note has not been paid and the Company is seeking to negotiate an additional forbearance agreement in conjunction with the debt restructuring described in Note 15. No assurance can be given that a further extension will be granted. In conjunction with the issuance of original promissory note, the Company issued warrants to purchase 50,000 shares of its common stock at an exercise price of $1.00 per share. The fair value of these warrants was previously expensed.
(b)(iii) In late April and May 2001, the Company borrowed $5.1 million in the aggregate evidenced by a series of notes due 120 days after issuance. These notes bear interest at the rate of 25% for the first 30-day period outstanding, increasing by 25% for each 30-day period thereafter. The Company had entered into definitive agreements or reached agreement in principle to restructure $3.6 million principal amount of this indebtedness. The holder of the remaining $1.5 million of debt has not agreed to modify the terms of the loan, which continues to be in default. See Notes 4 and 15.
(b)(iv) In December 2000, the Company executed agreements relating to a $2.5 million loan from DCM Asylum, LLC, a company related to Doerge Capital Management, a division of Balis, Lewites & Coleman, Inc. ("DCM"). This loan matured in February 2001 and was extended until September 2001. Subsequently, this loan was exchanged for the Company`s Series D Preferred Stock (See Note 15). In connection with the original loan, the Company issued warrants to purchase 250,000 shares of its common stock at an exercise price of $2.00 per share, expiring in December 2005. The fair value of the warrants was previously expensed. As consideration for the extension of the maturity date, a further 250,000 warrants were issued with an exercise price of $0.50 per share, expiring in April 2004.
(b)(v) In December 2000, the Company borrowed $1.5 million from DCM KG, LLC, a company related to DCM. Principal payments in the amount of $133,000 were made during this current quarter. The loan originally matured in February 2001 and was extended to June 2001. Subsequently, this loan was exchanged for the Company`s Series D Preferred Stock.
(b)(vi) During the past two quarters the Company has borrowed $10.6 million in aggregate evidenced by a series of convertible notes maturing December 31, 2001. The notes bear interest at the rate of 12% payable quarterly. The notes are convertible at the holder`s option at any time using the 10-day trading average, but at not less than $2.00 per share. In the event the principal is returned prior to an equity conversion, the Company will issue 10,000 warrants for every $100,000 raised, with a strike price of $2.00. Subsequently, $8.6 million of these notes was converted to Series D Preferred Stock, and the remaining $2 million was restructured.
(b)(vii) In January 2001, the Company borrowed $1.0 million from Aberdeen Strategic Capital LP. This loan matured in February 2001. This note has not been paid and the Company is seeking to negotiate an extension or waiver agreement.
(b)(viii) In December 2000, the Company borrowed $2 million from Amadeus NMC Holding, Inc. This loan bears interest at the rate of 8% per year, and is repayable quarterly, commencing June 30, 2001. The Company has not made the most recent quarterly payment and is now negotiating with the lender to modify the repayment terms such that repayments will equal a percentage of travel segment revenue. On that basis, one-half of the original loan amount ($1.0 million) is reflected as current and one-half is reflected in the long-term portion of debt.
(b)(ix) In April 2001, the Company borrowed $300,000 evidenced by a note due in July 2001. This note bears interest at the rate of 12% per annum, payable at maturity. The Company is in discussions with the lender to modify the term of this loan.
(b)(x) In May 2001, the Company borrowed $500,000. This loan has been converted to Series D Preferred Stock (See Note 15).
(c) Long-term debt detail follows:
Lender or Principal Interest
Description Amount Rate
Travel24.com (i) $ 3,750 LIBOR + 3.0%
Amadeus (ii) 1,000 8.0%
Other 49
-----------
TOTAL $ 4,799
(c)(i) Through November 2000, Travel24 had advanced the Company $3.75 million. This indebtedness is evidenced by convertible debentures bearing interest at the rate of LIBOR plus 3.0% The conversion price on the total indebtedness has been reduced to $0.50. These debentures mature in June 2002. Interest has not been paid currently. The Company has entered into a Remediation Agreement with the lender. The Company has been unable to comply with all the terms of the Remediation Agreement.
(c)(ii) In December 2000, the Company borrowed $2 million from Amadeus NMC Holding, Inc. This loan bears interest at the rate of 8% per year, and is repayable quarterly, commencing June 30, 2001. The Company has not made the most recent quarterly payment and is now negotiating with the lender to modify the repayment terms.
6. Common Stock
Effective April 20, 2001, the Company engaged Steven Antebi as a consultant to advise it as to financial and strategic planning matters. In accordance with the terms of the consulting agreement entered into between the Company and Mr. Antebi, the Company issued 2,200,000 shares of its common stock to him on May 18, 2001. These shares were issued and registered under a registration statement on Form S-8 in May 2001. In August 2001, Mr. Antebi agreed to relinquish his right to receive up to 2,000,000 additional shares in the event of specified dilutive events and agreed to certain resale restrictions on the shares he continued to hold.
Following is a table of stock issuances:
Number of Common $ Amount
Shares
Balance September 30, 2000 96,804,569 141,710,000
Shares issued on exercise of warrants 200,000 166,000
Shares issued on exercise of special warrants 7,692,300 7,196,000
--------------------- ----------------------
Balance December 31, 2000 104,696,869 149,072,000
Shares sold 1,417,444 3,982,000
Acquisition of Aviation Group shares 4,956,722 10,000
Conversion of Series A Preferred shares 2,750,000 -0-
Issuance pursuant to acquisition price minimums 4,817,712 -0-
Adjustment for 1:5 reverse share split (94,911,049) -0-
--------------------- ----------------------
Balance March 31, 2001 23,727,698 153,064,000
Shares issued to consultants for services 2,847,274 -0-
Shares issued pursuant to acquisition price minimums
(see Note 3) 2,071,186 -0-
--------------------- ----------------------
Balance June 30, 2001 28,646,158 153,064,000
7. Commitments and contingencies
During June 2000, the Company entered into an agreement with HealthyConnect.com, Inc. (HC.com), a private health care related internet technology company. Pursuant to the terms of the agreement, HC.com will issue 1,200,000 common shares to the Company upon confirmation of necessary technical specifications to establish links between their respective web sites. The Company will issue 1,000,000 common shares in exchange for a further 1,400,000 common shares of HC.com upon certain conditions being met. Under terms of the agreement, HC.com may request the Company to acquire up to 1,200,000 common shares of HC.com at $2.50 per share for a total cash consideration of $3.0 million subject to satisfactory due diligence and board approval of the Company. The completion of these transactions is subject to the necessary regulatory approvals. Through June 30, 2001, 17,500,000 shares have been exchanged. On August 8, 2000, the Company provided a demand loan to HC.com for $175,000 at 6.0% interest. The loan is secured by 1,200,000 common shares of HC.com and is included in advances. HC.com has entered into a letter of intent to merge with Next Generation Technology Holdings, Inc., which will become the surviving entity if and when the merger is completed.
In July 2001, the Company entered into an amendment of an agreement dated December 7, 1999, under which it had purchased the right to the 800-I-TRAVEL numbers and a system which utilizes a telephone switching technology that will route customers` calls to their closest member travel agency or to the company`s call center. Under the amendment, the Company is required to issue 300,000 of its common shares to the Vendors. In addition, the Company may be required to issue up to an additional 200,000 of its common shares to the Vendors, and/or pay the Vendors up to $525,000 in cash, depending on the average daily closing price and trading volume of its common shares during the period from October 8, 2001, to January 15, 2002.
In June, 2001, Michael H. Rosenblum ("Rosenblum") has filed suit against the Company in the Circuit Court of Cook County, Illinois in a case captioned Michael H. Rosenblum vs. Travelbyus.com, Ltd., et al., No. 01 L 0077689, claiming unspecified damages and costs for the Company`s alleged breach of the terms of the sale agreement pursuant to which the Company acquired all of the capital stock of Muffin Communications, Inc ("Muffin"). Under the terms of the agreement, the Company had agreed to a share "top off" provision pursuant to which it would issue additional shares of the Company`s common stock in the event the fair market value of the shares issue at closing was not equal to a certain amount in December 2000. Prior to the date for issuance of this additional consideration, the Company concluded that the assets of Muffin were not as represented and therefore declined to deliver the additional shares to Rosenblum. The Company has filed to remove the suit to Federal court and intends to file a counterclaim seeking recovery of the consideration previously paid to Rosenblum. The Company intends to defend against the plaintiff`s claims and prosecute its own counterclaims vigorously.
In 2001, Travel Magazine 2000 Inc. filed suit against the Company in the Superior Court of Justice of Ontario, Canada in a case captioned Travel Magazine 2000 Inc. vs. Travelbyus.com, Ltd, et al., Court File No. 01-CV-210137CM, claiming unspecified damages and costs for the Company`s alleged breach of the terms of an agreement entered into by the Company with the plaintiff in 1999. Under the terms of this agreement, the Company agreed to purchase up to 120 travel shows to be produced by plaintiffs, subject to the Company`s right to cancel production of 80 shows. The Company cancelled production of 80 shows by so advising plaintiff, both in writing and orally, in a timely manner. Plaintiff alleges that the Company failed to follow requisite formalities in canceling production of these shows, which allegation the Company disputes. The Company intends to vigorously defend this case.
In June, 2001, Apollo Galileo USA Partnership filed suit against the Company in the United States District Court for the Northern District of Illinois Eastern Division in a case captioned Apollo Galileo USA Partnership vs. Travelbyus, Inc. No. 01 C 2781, claiming unspecified damages and costs for the alleged breach of the terms of an agreement between plaintiff and Global Leisure, a wholly owned subsidiary of the Company, pursuant to which Global Leisure subscribed to plaintiff`s computerized reservation system. In its complaint, as amended, plaintiff alleges that the Company caused Global Leisure to breach the agreement by reason of removing assets from Global Leisure which allegedly rendered it unable to perform its obligations to plaintiffs. In addition, plaintiff alleges that the Company is responsible for Global Leisure`s obligations as a successor entity to Global Leisure. The Company disputes these allegations and denies any responsibility for the obligations or liabilities of Global Leisure. The plaintiff has filed a motion to add Global Leisure as a party to this litigation. Prior to initiating this suit, plaintiff made demand on the Company to pay to it $4 million as a result of the damages it is alleged to have suffered. The Company intends to vigorously defend this case.
In 2001, World Business Brokers, Inc. filed suit against the Company in the Eleventh Judicial Circuit in and for Miami-Dade County, Florida in a case captioned World Business Brokers, Inc vs. Aviation Group, Inc. (now known as travelbyus, Inc.), Case No. 00-25918 CA 24, claiming unspecified damages and costs for the Company`s alleged failure to pay brokerage commissions to plaintiff for its services in connection with the Company`s merger with travelbyus.com, Ltd. The Company maintains that the brokerage agreement had expired prior to the consummation of the transaction and intends to vigorously defend this case.
In July, 2001, a former employee of Cheap Seats, Inc. ("Cheap Seats"), a wholly owned subsidiary of the Company, filed suit against Cheap Seats, the Company and three individuals in California state court claiming unspecified damages and costs for alleged sexual harassment. Cheap Seats intends to vigorously defend this case.
In 2001, RSC (Rental Service Corporation) dba Prime Equipment filed suit against Travelbyus.com, Inc. ("TCI") and Aviation Exteriors Portland, Inc. ("AEP"), subsidiaries of the Company, in Circuit Court of the State of Oregon for the County of Multnomah in a case captioned RSC (Rental Service Corporation) dba Prime Equipment vs. Aviation Exteriors Portland, Inc., et al., No. 0104-04460, claiming damages and costs for AEP`s failure to pay an Amended and Restated Exchangeable Promissory Note in the amount of $263,052 and TCI`s failure to honor a guaranty of this note. The note evidenced past due payables of AEP. The Company has initiated settlement discussions with the plaintiff.
In 2001, John Fenyes, a former employee of the Company`s travelbyusUSA.com, Inc. subsidiary ("TBU-USA"), initiated an arbitration action against TBU-USA in Reno, Nevada claiming entitlement to approximately $200,000 in compensation under the terms of his employment agreement with TBU-USA following the Company`s diminution of his responsibly and his subsequent resignation. In September 2001, the arbitrator ruled in favor of Mr. Fenyes and awarded damages in the amount of approximately $69,000. TBU-USA is in negotiations with Mr. Fenyes with regard to a compromise settlement of such award. interest in the predecessor of TBU-USA, and to vigorously defend against his claims in the arbitration.
In August, 2001, JoAnn Smith, a former employee of the Company`s TBU-USA subsidiary, has advised that she intends to initiate an arbitration action against TBU-USA in Reno, Nevada claiming entitlement to an unspecified amount of compensation based upon TBU-USA`s alleged breach of its obligations to her under her employment agreement. The Company intends to vigorously defend this case.
The Company is a party to routine contract and employment-related litigation matters in the ordinary course of its business. No such pending matters, individually or in the aggregate, if adversely determined, are believed by management to be material to the business or financial condition of the Company. The Company maintains general liability insurance, property insurance, automobile insurance, employee benefit liability insurance, fidelity insurance, errors and omissions insurance and directors` and officers` liability insurance. The Company is generally self-insured with respect to workers` compensation, but maintains umbrella workers` compensation coverage to limit its maximum exposure to such claims.
8. Segment information
The Company operates in three operating segments: Travel, Technology and Other. The Travel segment provides a broad range of travel products, targeted primarily at the leisure customer, including airfare, hotel rooms, cruise packages, and ground packages. Products and services are offered through and to the traditional travel agency base, 1-800 call centers and the Internet. Included in the Travel segment are the operations of the following subsidiaries: Mr. Cheaps Travel, International Tours, GalaxSea Cruises and Tours, Express Vacations, Cheap Seats, Bell Travel, Global Leisure and Travelbyus Cruise Operations.
The Technology segment designs and manufactures electronic data storage systems, develops Internet accessible travel reservations systems, custom programming services, and a distributed website marketing system. Included in this segment are the operations of Legacy, Epoch, Prosoft and SiteRabbit.com.
Included in the Other segment are advertising and associate marketing operations of International Tours Inc., GalaxSea Cruises and Tours, and Travelbyus Cruise Operations.
The accounting policies of the segments are the same as those described in Note 1(b). The Company evaluates the performance of its segments and allocates resources to them based on operating contribution, which represents segment revenues less direct costs of operations, excluding the allocation of corporate general and administrative expenses. Assets of the operating segments reflect primarily net accounts receivable associated with segment activities; all other assets are included as corporate assets. The Company does not track expenditures for long-lived assets on a segment basis.
The table below presents information on the revenues and operating contribution for each segment for the three and nine months ended June 30, 2001 and 2000, and items that reconcile segment operating contribution to the Company`s reported pre-tax income (loss) from continuing operations (in thousands).
Three Months Ended Nine Months Ended
------------------ -----------------
June 30, June 30,
--------- --------
2001 2000 2001 2000
---- ---- ---- ----
Net sales of services:
Travel 1,544 2,247 5,622 5,928
Technology 1,024 199 2,374 526
Other 1,085 535 1,470 1,410
--------------- ------------- ------------- ---------------
3,653 2,981 9,466 7,864
--------------- ------------- ------------- ---------------
Operating contribution:
Travel (7,894) (22,640) (14,463)
(7,592)
Technology (736) (43) (2,499) (87)
Other 360 (1,760) 952
1
--------------- ------------- ------------- ---------------
--------------- ------------- ------------- ---------------
(8,327) (7,577) (26,899) (13,598)
--------------- ------------- ------------- ---------------
--------------- ------------- ------------- ---------------
Consolidated expenses:
Interest expense 3,718 208 5,942 1,664
Investment Reduction 21,123 25,326
--------------- ------------- ------------- ---------------
Pretax loss from
continuing operations (33,168) (7,785) (58,167) (15,262)
=============== ============= ============= ===============
9. Stock options and warrants
The Company has a Stock Option Plan that provides for the granting of options to purchase common shares to directors, officers, employees and consultants of the Company. The number of common shares reserved for issuance under the Stock Option Plan shall not exceed 10,000,000 common shares or a greater number as approved by the shareholders of the Company. Terms of the options shall not be for a period less than one year or longer than ten years. The option price shall be fixed by the directors of the Company subject to price restrictions imposed by the regulators. All options were granted at or above market value at the date of grant. Accordingly, no current or deferred compensation expense has been recorded in the periods presented.
Stock option transactions
The following table summarizes information about the Company`s stock option activity:
Options exercisable Number of Exercise price
at Options $
end of period
Balance September 30, 2000 7,448,800 0.12 - 4.50
Options granted during the period 547,000 0.90 - 4.28
Options exercised during the period -0- -0-
Options expired during the period (406,500) 1.15 - 4.28
Options exercisable at end of period 3,483,967 0.12 - 4.50
--------------------- -----------------
Balance December 31, 2000 7,589,300 0.12 - 4.50
Options expired during the period (50,000) 3.75
Adjust for reverse split (2,787,174) (6,031,440)
Options issued to Aviation Group 27,000 8.44 - 9.28
Options exercisable at end of period 700,633 0.40 - 16.26
--------------------- -----------------
Balance March 31, 2001 1,534,860 0.40 - 16.26
Options expired during the period (666,300) 1.53 - 16.26
Options exercisable at end of period 334,625 0.40 - 14.93
--------------------- -----------------
Balance June 30, 2001 870,960 0.40 - 14.93
===================== =================
The following table summarizes stock options outstanding at June 30, 2001:
Range of Number Number
exercise prices Outstanding exercisable
$0.40 - $3.32 312,760 226,049
$5.38 - $5.64 255,400 -0-
$7.80 - $10.62 147,000 60,000
$10.79 - $13.54 47,300 15,510
$14.20 - $14.93 108,500 33,066
870,960 334,625
============== ==========
Warrant transactions
Warrants granted in Travelbyus.com are convertible for exchangeable shares of the Company at the ratio before the reverse split effected in January 2001. The following table summarizes information about the warrant activity in the travelbyus.com warrant pool:
Number of Exercise price
underlying $
shares
Balance September 30, 2000 11,077,520 0.45 - 2.38
Issued on exercise of special warrants (Note 9) 3,496,500 1.67
Issued on debt financings (Note 5 (b) and (c) 550,000 1.00 - 2.00
Special warrants exercised (6,993,000) 1.67
Debenture warrants exercised (200,000) 0.45
----------------- ---------------
Balance December 31, 2000 7,931,020 0.45 - 2.33
Issued on debt financings (Note 5 (b) and (c) 300,000 1.00
Debenture warrants expired (6,778,250) 2.50 - 3.50
----------------- ----------------
Balance March 31, 2001 1,452,770 0.45 - 3.50
Issued on debt financings (Note 5) 2,771,890 0.62 - 1.00
----------------- ----------------
Balance June 30, 2001 4,224,660 0.45 - 3.50
================= ================
The following table summarizes information about the warrant
activity in the Aviation Group warrant pool:
Number of Exercise price
underlying $
shares
Beginning balance at acquisition date 1,825,882 5.00 - 47.44
Issued on debt financings 10,410,000 0.50 - 7.00
Issued to management 2,100,000 0.50 - 0.75
----------------- ----------------
Balance June 30, 2001 14,335,882 0.50 - 47.44
================= ================
10. Series A preferred stock
In conjunction with the purchase of Global Leisure on May 10, 2000, the Company issued 1,650 shares of its 9% cumulative convertible Series A preferred stock for $10,000 per share ($16.5 million in the aggregate). The Series A shares are convertible into common shares at the Company`s option. As additional consideration, warrants to purchase 750,000 shares of common stock at an exercise price of $5.00 per share were issued to the former owners of Global. The Series A shares were converted to common shares in January, 2001.
11. Change of auditors
As reported in the Company`s current report on Form 8-K filed April 23, 2001, PricewaterhouseCoopers LLP ("PWC") resigned as the Company`s independent accountants on April 17, 2001. PWC had served as the independent accountants for travelbyus.com, which, under the terms of the Arrangement, was the accounting acquirer of Aviation Group. Aviation Group`s independent accountants, Hein + Associates LLP ("Hein"), had ceased serving as Aviation Group`s independent accountants following the completion of the Arrangement. Hein subsequently notified the Company that it had ceased serving in this role. As reported in its current report on Form 8-K filed August 16, 2001, on August 9, 2001, the Company engaged Grobstein, Horwath & Company LLP to serve as its independent accountants.
12. Delisting
Effective April 10, 2001, the Company`s publicly-traded securities were delisted from The Nasdaq Stock Market due to the inability of the Company to satisfy the initial listing criteria, including maintenance of a $4.00 bid price for the specified period. In the United States, the Company`s publicly-traded common stock and warrants continue to trade on the OTC Bulletin Board under the trading symbols TRIP and TRIPW, respectively.
Sale of assets
On June 26, 2001, the Company completed the sale of the assets of its Aero Design, Inc. subsidiary, which manufactured aircraft batteries, for $3.0 million. After selling expenses, the Company received net cash amounting to $2.4 million, which it used to pay down existing debt. The Company recorded a $23,000 gain on sale.
14. New accounting standards
In June 2001, the FASB issued Statement No. 141, Business Combinations, and Statement No. 142, Goodwill and Other Intangible Assets. Statement 141 requires that the purchase method of accounting be used for all business combinations initiated after June 30, 2001 as well as all purchase method business combinations completed after June 30, 2001. Statement 141 also specifies criteria intangible assets acquired in a purchase method business combination must meet to be recognized and reported apart from goodwill, noting that any purchase price allocable to an assembled workforce may not be accounted for separately. Statement 142 will require that goodwill and intangible assets with indefinite useful lives no longer be amortized, but instead tested for impairment at least annually in accordance with the provisions of Statement 142. Statement 142 will also require that intangible assets with definite useful lives be amortized over their respective estimated useful lives to their estimated residual values, and reviewed for impairment in accordance with SFAS No. 121, Accounting for the Impairment of Long-Lived Assets and for Long-Lived Assets to Be Disposed Of.
The Company is required to adopt the provisions of Statement 141 immediately, and to adopt Statement 142 effective January 1, 2002. Furthermore, any goodwill and any intangible asset determined to have an indefinite useful life that are acquired in a purchase business combination completed after June 30, 2001 will not be amortized, but will continue to be evaluated for impairment in accordance with the appropriate pre-Statement 142 accounting literature. Goodwill and intangible assets acquired in business combinations completed before July 1, 2001 will continue to be amortized prior to the adoption of Statement 142.
Statement 141 will require upon adoption of Statement 142, that the Company evaluate its existing intangible assets and goodwill that were acquired in a prior purchase business combination, and to make any necessary reclassifications in order to conform with the new criteria in Statement 141 for recognition apart from goodwill. Upon adoption of Statement 142, the Company will be required to reassess the useful lives and residual values of all intangible assets acquired in purchase business combinations, and make any necessary amortization period adjustments by the end of the first interim period after adoption. In addition, to the extent an intangible asset is identified as having an indefinite useful life, the Company will be required to test the intangible asset for impairment in accordance with the provisions of Statement 142 within the first interim period. Any impairment loss will be measured as of the date of adoption and recognized as the cumulative effect of a change in accounting principle in the first interim period.
In connection with the transitional goodwill impairment evaluation, Statement 142 will require the Company to perform an assessment of whether there is an indication that goodwill is impaired as of the date of adoption. To accomplish this the Company must identify its reporting units and determine the carrying value of each reporting unit by assigning the assets and liabilities, including the existing goodwill and intangible assets, to those reporting units as of the date of adoption. The Company will then have up to six months from the date of adoption
WASHINGTON, D.C. 20549
FORM 10-QSB
[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended June 30, 2001
OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from _____ to _____
Commission file number: 0-10124
travelbyus, Inc.
(Exact name of registrant as specified in its charter)
Texas 75-2631373
----- ----------
(State or other jurisdiction of (IRS Employer Identification No.)
incorporation or organization)
3237 King George Hwy, Suite 204
White Rock, British Columbia Canada V4P
--------------------------------------------------------------------------------
(Address of principal executive offices) (Zip Code)
Registrant`s telephone number, including area code: (604) 541-2400
700 North Pearl Street, Suite 2170 Dallas, Texas 75201
Former name, former address and former fiscal year, if changed since last report
Check whether the issuer (1) filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
Yes X No __
State the number of shares outstanding of each of the issuer`s classes of common equity, as of the latest practicable date.
29,281,896 shares of common stock were outstanding as of August 27, 2001.
Transitional Small Business Disclosure Format (check one):
Yes No X
--------------------------------------------------------------------------------
2
INDEX
PART I FINANCIAL INFORMATION...........................................3
Item 1. Financial Statements............................................3
Consolidated Balance Sheet at June 30, 2001 (unaudited) ......3
Consolidated Statements of Operations for the three and nine
months ended June 30, 2001 and June 30, 2000 (unaudited)....5
Consolidated Statements of Cash Flows for the nine months
ended June 30, 2001 and June 30, 2000 (unaudited)...........6
Notes to Unaudited Consolidated Financial Statements............7
Item 2. Management`s Discussion and Analysis or Plan
of Operation................................................20
PART II OTHER INFORMATION..............................................26
Item 1. Legal Proceedings..............................................26
Item 2. Changes in Securities and Use of Proceeds......................27
Item 3. Defaults Upon Senior Securities (not applicable)...............29
Item 4. Submission of Matters to a Vote of Security Holders
(not applicable).............................................29
Item 5. Other Information..............................................29
Item 6. Exhibits and Reports on Form 8-K ............................29
SIGNATURES
--------------------------------------------------------------------------------
PART I - FINANCIAL INFORMATION
ITEM 1. FINANCIAL STATEMENTS
travelbyus, Inc. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEET
(in thousands except per share amounts)
(unaudited)
June 30, 2001
ASSETS:
Current assets:
Cash and cash equivalents 591
Accounts receivable, net 2,542
Inventory and barter credits 608
Prepaid expenses and other current assets 893
Marketable securities 178
Receivable from AVR 1,500
Assets of discontinued operations 2,499
--------------
Total current assets 8,811
Goodwill, net 17,000
Assets of discontinued operations 2,151
Software, contracts and other intangible assets 16,106
Deposits and restricted cash 4,109
Property, plant and equipment, net 4,277
Other assets 576
--------------
Total assets 53,030
==============
3
--------------------------------------------------------------------------------
TRAVELBYUS, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEET
(in thousands except per share amounts)
(unaudited)
LIABILITIES AND STOCKHOLDERS` DEFICIT:
June 30, 2001
--------------
Current liabilities:
Bank indebtedness 568
Accounts payable and accrued liabilities 9,288
Notes payable and current portion of long-term debt 30,391
Deferred tax liability 892
Preferred dividends payable 480
Other current liabilities 1,482
Liabilities of discontinued operations 5,782
--------------
Total current liabilities 48,883
Long-term debt, net of current maturities 4,799
Due to related parties 222
--------------
Total liabilities 53,904
Stockholders` deficit:
Series B 12% cumulative preferred stock, $10,000 16,000
Liquidation preference
Common stock, $.01 par value; 250,000,000 shares 153,064
Authorized; 28,646,158 shares issued and outstanding
Additional paid-in capital 47,895
Accumulated deficit (217,833)
--------------
Total stockholders` deficit (874)
--------------
Total liabilities and stockholders` deficit 53,030
==============
The accompanying notes are an integral part of the unaudited consolidated financial statements.
4
--------------------------------------------------------------------------------
TRAVELBYUS, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands except per share amounts)
(unaudited)
Three months ended Nine months ended
June 30, June 30,
2001 2000 2001 2000
---- ---- ---- ----
Net sales 3,653 2,981 9,466 7,864
----------- ------------ ----------- ------------
Costs and expenses:
Cost of net sales 992 1,169 2,730 3,568
Selling, general and administrative 7,359 6,268 21,973 13,572
Depreciation and amortization 3,629 3,121 13,570 4,316
----------- ------------ ----------- ------------
Total costs and expenses 11,980 10,558 38,273 21,456
----------- ------------ ----------- ------------
Operating loss (8,327) (7,577) (28,807) (13,592)
Other expense:
Interest expense, net 3,718 208 6,057 1,670
Adjustment of Global Leisure goodwill 21,123 21,123
Write-off of programming library Advances 1,500
Employment Contract Settlement 680
----------- ------------ ----------- ------------
Pretax loss (33,168) (7,785) (58,167) (15,262)
Income tax (provision) recovery 2 286 3,196 286
----------- ------------ ----------- ------------
Loss from continuing operations (33,166) (7,499) (54,971) (14,976)
Loss from discontinued operations (91) (20)
----------- ------------ ----------- ------------
Loss before extraordinary item (33,257) (7,499) (54,991) (14,976)
Loss on repayment of debentures (699)
----------- ------------ ----------- ------------
Net loss (33,257) (7,499) (54,991) (15,675)
=========== ============ =========== ============
Loss per common share:
Loss from continuing operations ($1.33) ($0.60) ($2.33) ($1.20)
Loss from discontinued operations
and extraordinary items (0.06)
----------- ------------ ----------- ------------
Net loss per share (basic and diluted) ($1.33) ($0.60) ($2.33) ($1.26)
=========== ============ =========== ============
Weighted average shares outstanding (basic and diluted) 24,945,450 12,445,530 23,629,135 12,445,530
The accompanying notes are an integral part of the unaudited consolidated financial statements.
5
--------------------------------------------------------------------------------
TRAVELBYUS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
(unaudited)
Nine Months ended June 30,
---------------------------
2001 2000
---- ----
Cash flow from operating activities:
Net Loss for the period (54,991) (15,675)
Items not affecting cash:
Writedown of marketable securities 51
Depreciation and amortization 13,570 4,378
Reduction of deferred income tax credit (3,200) (201)
Valuation adjustments- goodwill 19,115
Valuation adjustments- intangibles & other assets 3,742
Net change in non-cash working capital items:
Increase in security deposits 192
Accounts receivable and prepaid expenses (869)
Inventory and barter credits (107)
Accounts payable, accrued liabilities, customer
deposits and other current liabilities 3,191 3,554
--------------------- -----------------------
Cash used by operations (19,306) (7,944)
--------------------- -----------------------
Cash flow from investing activities:
Cash paid for acquisitions (12,297)
Receivable from AVR (1,500)
Purchase of property and equipment (1,111) (1,771)
Investments (4,523)
Deposits and restricted cash (1,032)
Acquisition of Aviation Group and related valuation
Adjustments (8,732)
--------------------- -----------------------
Cash used by investing activities (11,343) (19,623)
--------------------- -----------------------
Cash flow from financing activities:
Bank borrowings 290
Non-bank borrowings 27,455
Issuance of notes payable 3,190
Share issue costs (2,050)
Issue of special warrants 13,512
Private placement 11,753
Exercise of options and warrants 3,781
Subscriptions received 707 1,973
Repayments to related parties (366)
--------------------- -----------------------
Cash provided by financing activities 28,086 32,159
Foreign exchange effect on cash 1,152 1,482
--------------------- -----------------------
Increase (decrease) in cash and cash equivalents (1,411) 6,074
Cash and cash equivalents, beginning of period 2,002 2,200
--------------------- -----------------------
Cash and cash equivalents, end of period 591 8,274
===================== =======================
The accompanying notes are an integral part of the unaudited consolidated financial statements.
6
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1. Nature of operations and going concern
(a) Nature of operations
travelbyus, Inc. (the "Company") is in the business of providing travel-related products and services targeted primarily at the leisure customer, including airline tickets and tour, cruise and group packages. The Company seeks to become a fully integrated travel network.
On January 25, 2001, Aviation Group, Inc., a Texas corporation, completed an arrangement (the "Arrangement") with travelbyus.com, Ltd., an Ontario corporation. Immediately prior to completion of the Arrangement, Aviation Group, Inc. changed its name to travelbyus, Inc. Under the terms of the Arrangement, Aviation Group, Inc. was the legal acquirer of travelbyus.com, Ltd. and travelbyus.com, Ltd. was the accounting acquirer. Accordingly, the historical financial information set forth herein is that of the accounting acquirer, travelbyus.com., Ltd. Current period financial results presented for the three and nine-month periods ended June 30, 2001 include only the results of travelbyus.com through January 25, 2001, the date the Arrangement was effectuated. For the balance of the three and nine-month periods ended June 30, 2001, the results of both constituent companies to the Arrangement are included.
The Company has disposed or is currently seeking to dispose of its assets that are unrelated to its travel businesses, principally those that were historically a part of Aviation Group, Inc. These non-travel related assets, liabilities and operations are presented as held for sale or discontinued at their estimated liquidation value. See also Note 13.
As used herein, the term the "Company" refers to the combined company or, prior to the Arrangement, either of the constituent companies, unless a distinction between the constituent companies is required. In any instance in which such distinction is required, the term "Aviation Group" refers to Aviation Group, Inc. prior to the Arrangement and the term "travelbyus.com" refers to travelbyus.com, Ltd. prior to the Arrangement.
(b) Going concern
These financial statements have been prepared using generally accepted accounting principles ("GAAP") applicable to a going concern. The Company incurred a net loss, before write-off and amortization of goodwill, of approximately $36 million during the nine months ended June 30, 2001, had an accumulated deficit of approximately $218 million, and a working capital deficiency of approximately $40 million, at the end of the period. The Company has continued to incur losses subsequent to the period end. The Company used cash of approximately $19 million to fund operations during the nine-month period. In addition, substantially all of the Company`s assets are provided as security for various financings. Management estimates that financing facilities currently available are insufficient to maintain operations and repay obligations due or coming due in the coming year. The Company will require new sources of financing, a restructuring of its existing obligations or forbearance of its loan agreements, in order to continue its operations and satisfy its obligations in the normal course. Accordingly, the use of generally accepted accounting principles applicable to a going concern may not be appropriate because substantial doubt exists with respect to the Company`s ability to continue as a going concern.
Management is addressing this situation by attempting to financially restructure its debt, to raise additional financing, to eliminate redundant and unnecessary costs and to realize the revenue potential of its recent acquisitions, products and services. No assurance can, however, be given that management will be successful in these efforts.
7
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These financial statements do not reflect any adjustments to the carrying value of assets and liabilities, the estimated useful lives of assets, the reported revenues and expenses and balance sheet classifications used that would be necessary if the going concern assumption were not appropriate. Such adjustments could be material.
2. Programming library
The Company acquired a media library. During the three months ended December 31, 2000, the Company received the balance of the first 40 episodes and has therefore reclassified the remaining balance of advances for programming services to the programming library. In addition, the Company capitalized and accrued for the remaining balance of advances due, $1.5 million with respect to the 40 new episodes. These advances were written off during the period to reducethe carrying value of the programming library down to the estimated fair value.
3. Software and other assets
Pursuant to the terms of the share purchase agreement for Muffin Communications Ltd., the share consideration given for the rights to the wireless contract was subject to adjustment based on the trading price of the common shares of travelbyus.com on December 15, 2000. The combination of shares and/or cash to be paid or given to maintain the total consideration of $6.7 million or $6.70 per share pursuant to the adjustment formula, was to be decided by travelbyus.com. During the quarter ended December 31, 2000, the required value of additional consideration of $6.3 million was expensed due to the continued significant uncertainty about the level of revenues expected to be derived from the underlying wireless customer base. During the quarter ended June 30, 2001, the Company issued 10,355,932 shares of travelbyus.com Ltd. (Canadian) shares (equivalent to 2,071,186 shares of travelbyus Inc. (U.S.) shares) into a trust account, in order to satisfy its additional obligation under the agreement, pending the outcome of related litigation.
4. Termination of Relationship with American Vacation Resorts, Inc.
On April 13, 2001, the United States District Court for the Northern District of Illinois, entered an order granting a motion to approve the sale of certain assets of Med Resorts International, Inc. ("MRI") to American Vacation Resorts, Inc. ("AVR"), a corporation in which the Company and Malcolm Wright each held a 50% beneficial interest, subject to the issuance or reservation of shares representing 17.5% of the AVR`s outstanding common stock under an equity incentive program for current or future management personnel of AVR. The assets of MRI consist principally of notes of MRI`s vacation club members, three hotels and certain condominium units and time-share intervals in hotel and resort properties. MRI was placed in receivership in August, 2000 in an action filed against it by the Federal Trade Commission and the Commonwealth of Virginia in the United States District Court for the Northern District of Illinois.
The Company subsequently purported to exercise an option to acquire the 50% of the common stock of AVR held by Mr. Wright. As previously disclosed in the Company`s quarterly report on Form 10-QSB for the quarter ended March 31, 2001, the Company had neither resolved all issues concerning the terms of the option exercise nor entered into definitive agreements for the transfer of Mr. Wright`s interest in AVR. The Company subsequently concluded that, under the terms of the court`s order, the transfer could not become effective for a 10-year period. In order to resolve this and other issues before the court (under the continuing jurisdiction over the MRI matter that it had retained), the Company elected to relinquish its interest in AVR in consideration of the right to receive a return of its $1.5 million capital contribution to AVR (subject to reduction for legal expenses of the parties incurred in connection with the court proceedings), payable in amounts equal to 50% of any new capital raised by AVR, if any, and otherwise on a subordinated basis from excess cash flow, if any. These payments are to commence only if the Company obtains releases of the liens on the AVR assets securing obligations of the Company in the original principal amount of $5.1 million, which it is presently seeking to do. The Company also agreed to advance an additional $175,000 to an escrow account to pay legal fees in connection with this matter (which payments were made in two installments in July and August 2001). Separately, the Company negotiated agreements with Mr. Wright, AVR and other corporations controlled by Mr. Wright under which the parties agreed to mutual releases and the Company received the right to the return of the $200,000 it had advanced to Mr. Wright and other consideration unrelated to AVR.
Under the terms of a stipulated order of the court, the Company will neither have any continuing ownership rights in AVR (and, therefore, AVR will not be a subsidiary of the Company) nor have any role in the management or operations of AVR, except that the Company will continue to provide travel fulfillment services to AVR on a non-exclusive basis and, until it obtains releases of the liens on AVR assets securing obligations in the original principal amount of $5.1 million, certain of the Company`s guaranties of AVR`s obligations will remain in place. The Company committed to cause these liens to be released no later than September 30, 2001, and AVR will not guarantee or pledge its assets to support or secure any obligations of the Company. At October 31, 2001, the Company had entered into definitive agreements or reached understandings to release the liens respecting $3.6 million principal amount of this indebtedness (although written documentation has not been completed or forwarded to AVR). The holder of the remaining $1.5 million of debt has not agreed to release its liens. The Company has failed to satisfy its obligations under the terms of the order. Among other consequences, unless the Company obtains releases of all liens (as to which no assurance can be given), and a modification to the order is negotiated and entered (as to which there have been no discussions initiated and thus, no indication that a modification will be considered), the Company`s guaranties of AVR`s obligations will not be released and the Company will relinquish its rights to repayment of the amounts it advanced to or on behalf of AVR.
5. Credit facilities, notes and debt
Credit facilities utilized, due and payable at June 30, 2001, are as follows (in thousands):
Bank Indebtedness (a) $ 568
Notes Payable & Current Portion of Long-Term-Debt (b) 30,391
Long-term Debt (net of current maturities) (c) 4,799
Non-current Debt to Related Party 222
----------
TOTAL $35,980
(a) Bank indebtedness consists of a single obligation under a
revolving credit agreement.
(b) The following table summarizes the detail and terms of the various loans comprising the current portion of notes payable and long-term debt:
Lender/ Principal Interest
Description Amount Rate
Senior Redeemable Debentures (i) $ 6,262 12.5%
Pelham Funds Note (ii) 1,887 12.0%
Debt Related to AVR (Note 4) (iii) 5,050 (See iii)
DCM Asylum LLC (iv) 2,400 12.0%
DCM KG LLC Convertible Loan (v) 1,367 12.5%
Convertible Bridge Notes (vi) 10,625 12.0%
Aberdeen Loan (vii) 1,000 12.0%
Amadeus (viii) 1,000 8.0%
Sadler Loan (ix) 300 12.0%
Starside Loan (x) 500 12.0%
(b)(i) In September, 1999, the Company`s Travelbyus.com Incorporated subsidiary issued CND $12.0 million (approximately U.S. $8 million) principal amount of its senior redeemable debentures. In March 2000, the issuer offered early redemption of the debentures of which approximately CND $2.8 million was retired. The debentures bear interest at a rate of 12.5% per annum, payable semi-annually, and matured on September 9, 2001. The Company recently concluded discussions with the Lead Agent, Wellington West Capital, Inc. and has had the repayment date for both principal and interest extended 15 months, to December 2002. The parties are in the process of preparing final documentation, and the Company has agreed to compensate Wellington West with a Rollover Fee equal to 2% of the aggregate principal amount of the debentures outstanding. One-half of this fee will be paid in cash and the other half will be paid for with common stock of the Company, at an issue price equal to the weighted average trading price of the shares for the prior 20 trading days. This will equal approximately 4.0 million shares of the Company`s common stock.
(b)(ii) The Company borrowed $3.0 million from Pelham Investment Fund on May 9, 2000. In June 2001 $1.2 million was paid toward the principal balance from proceeds of the Aero Design sale. The original promissory note required quarterly interest payments at an annual rate of 12%, and matured February 2001. The Company previously entered into a forbearance agreement with the lender that extended the payment date to September 2001. The balance of this note has not been paid and the Company is seeking to negotiate an additional forbearance agreement in conjunction with the debt restructuring described in Note 15. No assurance can be given that a further extension will be granted. In conjunction with the issuance of original promissory note, the Company issued warrants to purchase 50,000 shares of its common stock at an exercise price of $1.00 per share. The fair value of these warrants was previously expensed.
(b)(iii) In late April and May 2001, the Company borrowed $5.1 million in the aggregate evidenced by a series of notes due 120 days after issuance. These notes bear interest at the rate of 25% for the first 30-day period outstanding, increasing by 25% for each 30-day period thereafter. The Company had entered into definitive agreements or reached agreement in principle to restructure $3.6 million principal amount of this indebtedness. The holder of the remaining $1.5 million of debt has not agreed to modify the terms of the loan, which continues to be in default. See Notes 4 and 15.
(b)(iv) In December 2000, the Company executed agreements relating to a $2.5 million loan from DCM Asylum, LLC, a company related to Doerge Capital Management, a division of Balis, Lewites & Coleman, Inc. ("DCM"). This loan matured in February 2001 and was extended until September 2001. Subsequently, this loan was exchanged for the Company`s Series D Preferred Stock (See Note 15). In connection with the original loan, the Company issued warrants to purchase 250,000 shares of its common stock at an exercise price of $2.00 per share, expiring in December 2005. The fair value of the warrants was previously expensed. As consideration for the extension of the maturity date, a further 250,000 warrants were issued with an exercise price of $0.50 per share, expiring in April 2004.
(b)(v) In December 2000, the Company borrowed $1.5 million from DCM KG, LLC, a company related to DCM. Principal payments in the amount of $133,000 were made during this current quarter. The loan originally matured in February 2001 and was extended to June 2001. Subsequently, this loan was exchanged for the Company`s Series D Preferred Stock.
(b)(vi) During the past two quarters the Company has borrowed $10.6 million in aggregate evidenced by a series of convertible notes maturing December 31, 2001. The notes bear interest at the rate of 12% payable quarterly. The notes are convertible at the holder`s option at any time using the 10-day trading average, but at not less than $2.00 per share. In the event the principal is returned prior to an equity conversion, the Company will issue 10,000 warrants for every $100,000 raised, with a strike price of $2.00. Subsequently, $8.6 million of these notes was converted to Series D Preferred Stock, and the remaining $2 million was restructured.
(b)(vii) In January 2001, the Company borrowed $1.0 million from Aberdeen Strategic Capital LP. This loan matured in February 2001. This note has not been paid and the Company is seeking to negotiate an extension or waiver agreement.
(b)(viii) In December 2000, the Company borrowed $2 million from Amadeus NMC Holding, Inc. This loan bears interest at the rate of 8% per year, and is repayable quarterly, commencing June 30, 2001. The Company has not made the most recent quarterly payment and is now negotiating with the lender to modify the repayment terms such that repayments will equal a percentage of travel segment revenue. On that basis, one-half of the original loan amount ($1.0 million) is reflected as current and one-half is reflected in the long-term portion of debt.
(b)(ix) In April 2001, the Company borrowed $300,000 evidenced by a note due in July 2001. This note bears interest at the rate of 12% per annum, payable at maturity. The Company is in discussions with the lender to modify the term of this loan.
(b)(x) In May 2001, the Company borrowed $500,000. This loan has been converted to Series D Preferred Stock (See Note 15).
(c) Long-term debt detail follows:
Lender or Principal Interest
Description Amount Rate
Travel24.com (i) $ 3,750 LIBOR + 3.0%
Amadeus (ii) 1,000 8.0%
Other 49
-----------
TOTAL $ 4,799
(c)(i) Through November 2000, Travel24 had advanced the Company $3.75 million. This indebtedness is evidenced by convertible debentures bearing interest at the rate of LIBOR plus 3.0% The conversion price on the total indebtedness has been reduced to $0.50. These debentures mature in June 2002. Interest has not been paid currently. The Company has entered into a Remediation Agreement with the lender. The Company has been unable to comply with all the terms of the Remediation Agreement.
(c)(ii) In December 2000, the Company borrowed $2 million from Amadeus NMC Holding, Inc. This loan bears interest at the rate of 8% per year, and is repayable quarterly, commencing June 30, 2001. The Company has not made the most recent quarterly payment and is now negotiating with the lender to modify the repayment terms.
6. Common Stock
Effective April 20, 2001, the Company engaged Steven Antebi as a consultant to advise it as to financial and strategic planning matters. In accordance with the terms of the consulting agreement entered into between the Company and Mr. Antebi, the Company issued 2,200,000 shares of its common stock to him on May 18, 2001. These shares were issued and registered under a registration statement on Form S-8 in May 2001. In August 2001, Mr. Antebi agreed to relinquish his right to receive up to 2,000,000 additional shares in the event of specified dilutive events and agreed to certain resale restrictions on the shares he continued to hold.
Following is a table of stock issuances:
Number of Common $ Amount
Shares
Balance September 30, 2000 96,804,569 141,710,000
Shares issued on exercise of warrants 200,000 166,000
Shares issued on exercise of special warrants 7,692,300 7,196,000
--------------------- ----------------------
Balance December 31, 2000 104,696,869 149,072,000
Shares sold 1,417,444 3,982,000
Acquisition of Aviation Group shares 4,956,722 10,000
Conversion of Series A Preferred shares 2,750,000 -0-
Issuance pursuant to acquisition price minimums 4,817,712 -0-
Adjustment for 1:5 reverse share split (94,911,049) -0-
--------------------- ----------------------
Balance March 31, 2001 23,727,698 153,064,000
Shares issued to consultants for services 2,847,274 -0-
Shares issued pursuant to acquisition price minimums
(see Note 3) 2,071,186 -0-
--------------------- ----------------------
Balance June 30, 2001 28,646,158 153,064,000
7. Commitments and contingencies
During June 2000, the Company entered into an agreement with HealthyConnect.com, Inc. (HC.com), a private health care related internet technology company. Pursuant to the terms of the agreement, HC.com will issue 1,200,000 common shares to the Company upon confirmation of necessary technical specifications to establish links between their respective web sites. The Company will issue 1,000,000 common shares in exchange for a further 1,400,000 common shares of HC.com upon certain conditions being met. Under terms of the agreement, HC.com may request the Company to acquire up to 1,200,000 common shares of HC.com at $2.50 per share for a total cash consideration of $3.0 million subject to satisfactory due diligence and board approval of the Company. The completion of these transactions is subject to the necessary regulatory approvals. Through June 30, 2001, 17,500,000 shares have been exchanged. On August 8, 2000, the Company provided a demand loan to HC.com for $175,000 at 6.0% interest. The loan is secured by 1,200,000 common shares of HC.com and is included in advances. HC.com has entered into a letter of intent to merge with Next Generation Technology Holdings, Inc., which will become the surviving entity if and when the merger is completed.
In July 2001, the Company entered into an amendment of an agreement dated December 7, 1999, under which it had purchased the right to the 800-I-TRAVEL numbers and a system which utilizes a telephone switching technology that will route customers` calls to their closest member travel agency or to the company`s call center. Under the amendment, the Company is required to issue 300,000 of its common shares to the Vendors. In addition, the Company may be required to issue up to an additional 200,000 of its common shares to the Vendors, and/or pay the Vendors up to $525,000 in cash, depending on the average daily closing price and trading volume of its common shares during the period from October 8, 2001, to January 15, 2002.
In June, 2001, Michael H. Rosenblum ("Rosenblum") has filed suit against the Company in the Circuit Court of Cook County, Illinois in a case captioned Michael H. Rosenblum vs. Travelbyus.com, Ltd., et al., No. 01 L 0077689, claiming unspecified damages and costs for the Company`s alleged breach of the terms of the sale agreement pursuant to which the Company acquired all of the capital stock of Muffin Communications, Inc ("Muffin"). Under the terms of the agreement, the Company had agreed to a share "top off" provision pursuant to which it would issue additional shares of the Company`s common stock in the event the fair market value of the shares issue at closing was not equal to a certain amount in December 2000. Prior to the date for issuance of this additional consideration, the Company concluded that the assets of Muffin were not as represented and therefore declined to deliver the additional shares to Rosenblum. The Company has filed to remove the suit to Federal court and intends to file a counterclaim seeking recovery of the consideration previously paid to Rosenblum. The Company intends to defend against the plaintiff`s claims and prosecute its own counterclaims vigorously.
In 2001, Travel Magazine 2000 Inc. filed suit against the Company in the Superior Court of Justice of Ontario, Canada in a case captioned Travel Magazine 2000 Inc. vs. Travelbyus.com, Ltd, et al., Court File No. 01-CV-210137CM, claiming unspecified damages and costs for the Company`s alleged breach of the terms of an agreement entered into by the Company with the plaintiff in 1999. Under the terms of this agreement, the Company agreed to purchase up to 120 travel shows to be produced by plaintiffs, subject to the Company`s right to cancel production of 80 shows. The Company cancelled production of 80 shows by so advising plaintiff, both in writing and orally, in a timely manner. Plaintiff alleges that the Company failed to follow requisite formalities in canceling production of these shows, which allegation the Company disputes. The Company intends to vigorously defend this case.
In June, 2001, Apollo Galileo USA Partnership filed suit against the Company in the United States District Court for the Northern District of Illinois Eastern Division in a case captioned Apollo Galileo USA Partnership vs. Travelbyus, Inc. No. 01 C 2781, claiming unspecified damages and costs for the alleged breach of the terms of an agreement between plaintiff and Global Leisure, a wholly owned subsidiary of the Company, pursuant to which Global Leisure subscribed to plaintiff`s computerized reservation system. In its complaint, as amended, plaintiff alleges that the Company caused Global Leisure to breach the agreement by reason of removing assets from Global Leisure which allegedly rendered it unable to perform its obligations to plaintiffs. In addition, plaintiff alleges that the Company is responsible for Global Leisure`s obligations as a successor entity to Global Leisure. The Company disputes these allegations and denies any responsibility for the obligations or liabilities of Global Leisure. The plaintiff has filed a motion to add Global Leisure as a party to this litigation. Prior to initiating this suit, plaintiff made demand on the Company to pay to it $4 million as a result of the damages it is alleged to have suffered. The Company intends to vigorously defend this case.
In 2001, World Business Brokers, Inc. filed suit against the Company in the Eleventh Judicial Circuit in and for Miami-Dade County, Florida in a case captioned World Business Brokers, Inc vs. Aviation Group, Inc. (now known as travelbyus, Inc.), Case No. 00-25918 CA 24, claiming unspecified damages and costs for the Company`s alleged failure to pay brokerage commissions to plaintiff for its services in connection with the Company`s merger with travelbyus.com, Ltd. The Company maintains that the brokerage agreement had expired prior to the consummation of the transaction and intends to vigorously defend this case.
In July, 2001, a former employee of Cheap Seats, Inc. ("Cheap Seats"), a wholly owned subsidiary of the Company, filed suit against Cheap Seats, the Company and three individuals in California state court claiming unspecified damages and costs for alleged sexual harassment. Cheap Seats intends to vigorously defend this case.
In 2001, RSC (Rental Service Corporation) dba Prime Equipment filed suit against Travelbyus.com, Inc. ("TCI") and Aviation Exteriors Portland, Inc. ("AEP"), subsidiaries of the Company, in Circuit Court of the State of Oregon for the County of Multnomah in a case captioned RSC (Rental Service Corporation) dba Prime Equipment vs. Aviation Exteriors Portland, Inc., et al., No. 0104-04460, claiming damages and costs for AEP`s failure to pay an Amended and Restated Exchangeable Promissory Note in the amount of $263,052 and TCI`s failure to honor a guaranty of this note. The note evidenced past due payables of AEP. The Company has initiated settlement discussions with the plaintiff.
In 2001, John Fenyes, a former employee of the Company`s travelbyusUSA.com, Inc. subsidiary ("TBU-USA"), initiated an arbitration action against TBU-USA in Reno, Nevada claiming entitlement to approximately $200,000 in compensation under the terms of his employment agreement with TBU-USA following the Company`s diminution of his responsibly and his subsequent resignation. In September 2001, the arbitrator ruled in favor of Mr. Fenyes and awarded damages in the amount of approximately $69,000. TBU-USA is in negotiations with Mr. Fenyes with regard to a compromise settlement of such award. interest in the predecessor of TBU-USA, and to vigorously defend against his claims in the arbitration.
In August, 2001, JoAnn Smith, a former employee of the Company`s TBU-USA subsidiary, has advised that she intends to initiate an arbitration action against TBU-USA in Reno, Nevada claiming entitlement to an unspecified amount of compensation based upon TBU-USA`s alleged breach of its obligations to her under her employment agreement. The Company intends to vigorously defend this case.
The Company is a party to routine contract and employment-related litigation matters in the ordinary course of its business. No such pending matters, individually or in the aggregate, if adversely determined, are believed by management to be material to the business or financial condition of the Company. The Company maintains general liability insurance, property insurance, automobile insurance, employee benefit liability insurance, fidelity insurance, errors and omissions insurance and directors` and officers` liability insurance. The Company is generally self-insured with respect to workers` compensation, but maintains umbrella workers` compensation coverage to limit its maximum exposure to such claims.
8. Segment information
The Company operates in three operating segments: Travel, Technology and Other. The Travel segment provides a broad range of travel products, targeted primarily at the leisure customer, including airfare, hotel rooms, cruise packages, and ground packages. Products and services are offered through and to the traditional travel agency base, 1-800 call centers and the Internet. Included in the Travel segment are the operations of the following subsidiaries: Mr. Cheaps Travel, International Tours, GalaxSea Cruises and Tours, Express Vacations, Cheap Seats, Bell Travel, Global Leisure and Travelbyus Cruise Operations.
The Technology segment designs and manufactures electronic data storage systems, develops Internet accessible travel reservations systems, custom programming services, and a distributed website marketing system. Included in this segment are the operations of Legacy, Epoch, Prosoft and SiteRabbit.com.
Included in the Other segment are advertising and associate marketing operations of International Tours Inc., GalaxSea Cruises and Tours, and Travelbyus Cruise Operations.
The accounting policies of the segments are the same as those described in Note 1(b). The Company evaluates the performance of its segments and allocates resources to them based on operating contribution, which represents segment revenues less direct costs of operations, excluding the allocation of corporate general and administrative expenses. Assets of the operating segments reflect primarily net accounts receivable associated with segment activities; all other assets are included as corporate assets. The Company does not track expenditures for long-lived assets on a segment basis.
The table below presents information on the revenues and operating contribution for each segment for the three and nine months ended June 30, 2001 and 2000, and items that reconcile segment operating contribution to the Company`s reported pre-tax income (loss) from continuing operations (in thousands).
Three Months Ended Nine Months Ended
------------------ -----------------
June 30, June 30,
--------- --------
2001 2000 2001 2000
---- ---- ---- ----
Net sales of services:
Travel 1,544 2,247 5,622 5,928
Technology 1,024 199 2,374 526
Other 1,085 535 1,470 1,410
--------------- ------------- ------------- ---------------
3,653 2,981 9,466 7,864
--------------- ------------- ------------- ---------------
Operating contribution:
Travel (7,894) (22,640) (14,463)
(7,592)
Technology (736) (43) (2,499) (87)
Other 360 (1,760) 952
1
--------------- ------------- ------------- ---------------
--------------- ------------- ------------- ---------------
(8,327) (7,577) (26,899) (13,598)
--------------- ------------- ------------- ---------------
--------------- ------------- ------------- ---------------
Consolidated expenses:
Interest expense 3,718 208 5,942 1,664
Investment Reduction 21,123 25,326
--------------- ------------- ------------- ---------------
Pretax loss from
continuing operations (33,168) (7,785) (58,167) (15,262)
=============== ============= ============= ===============
9. Stock options and warrants
The Company has a Stock Option Plan that provides for the granting of options to purchase common shares to directors, officers, employees and consultants of the Company. The number of common shares reserved for issuance under the Stock Option Plan shall not exceed 10,000,000 common shares or a greater number as approved by the shareholders of the Company. Terms of the options shall not be for a period less than one year or longer than ten years. The option price shall be fixed by the directors of the Company subject to price restrictions imposed by the regulators. All options were granted at or above market value at the date of grant. Accordingly, no current or deferred compensation expense has been recorded in the periods presented.
Stock option transactions
The following table summarizes information about the Company`s stock option activity:
Options exercisable Number of Exercise price
at Options $
end of period
Balance September 30, 2000 7,448,800 0.12 - 4.50
Options granted during the period 547,000 0.90 - 4.28
Options exercised during the period -0- -0-
Options expired during the period (406,500) 1.15 - 4.28
Options exercisable at end of period 3,483,967 0.12 - 4.50
--------------------- -----------------
Balance December 31, 2000 7,589,300 0.12 - 4.50
Options expired during the period (50,000) 3.75
Adjust for reverse split (2,787,174) (6,031,440)
Options issued to Aviation Group 27,000 8.44 - 9.28
Options exercisable at end of period 700,633 0.40 - 16.26
--------------------- -----------------
Balance March 31, 2001 1,534,860 0.40 - 16.26
Options expired during the period (666,300) 1.53 - 16.26
Options exercisable at end of period 334,625 0.40 - 14.93
--------------------- -----------------
Balance June 30, 2001 870,960 0.40 - 14.93
===================== =================
The following table summarizes stock options outstanding at June 30, 2001:
Range of Number Number
exercise prices Outstanding exercisable
$0.40 - $3.32 312,760 226,049
$5.38 - $5.64 255,400 -0-
$7.80 - $10.62 147,000 60,000
$10.79 - $13.54 47,300 15,510
$14.20 - $14.93 108,500 33,066
870,960 334,625
============== ==========
Warrant transactions
Warrants granted in Travelbyus.com are convertible for exchangeable shares of the Company at the ratio before the reverse split effected in January 2001. The following table summarizes information about the warrant activity in the travelbyus.com warrant pool:
Number of Exercise price
underlying $
shares
Balance September 30, 2000 11,077,520 0.45 - 2.38
Issued on exercise of special warrants (Note 9) 3,496,500 1.67
Issued on debt financings (Note 5 (b) and (c) 550,000 1.00 - 2.00
Special warrants exercised (6,993,000) 1.67
Debenture warrants exercised (200,000) 0.45
----------------- ---------------
Balance December 31, 2000 7,931,020 0.45 - 2.33
Issued on debt financings (Note 5 (b) and (c) 300,000 1.00
Debenture warrants expired (6,778,250) 2.50 - 3.50
----------------- ----------------
Balance March 31, 2001 1,452,770 0.45 - 3.50
Issued on debt financings (Note 5) 2,771,890 0.62 - 1.00
----------------- ----------------
Balance June 30, 2001 4,224,660 0.45 - 3.50
================= ================
The following table summarizes information about the warrant
activity in the Aviation Group warrant pool:
Number of Exercise price
underlying $
shares
Beginning balance at acquisition date 1,825,882 5.00 - 47.44
Issued on debt financings 10,410,000 0.50 - 7.00
Issued to management 2,100,000 0.50 - 0.75
----------------- ----------------
Balance June 30, 2001 14,335,882 0.50 - 47.44
================= ================
10. Series A preferred stock
In conjunction with the purchase of Global Leisure on May 10, 2000, the Company issued 1,650 shares of its 9% cumulative convertible Series A preferred stock for $10,000 per share ($16.5 million in the aggregate). The Series A shares are convertible into common shares at the Company`s option. As additional consideration, warrants to purchase 750,000 shares of common stock at an exercise price of $5.00 per share were issued to the former owners of Global. The Series A shares were converted to common shares in January, 2001.
11. Change of auditors
As reported in the Company`s current report on Form 8-K filed April 23, 2001, PricewaterhouseCoopers LLP ("PWC") resigned as the Company`s independent accountants on April 17, 2001. PWC had served as the independent accountants for travelbyus.com, which, under the terms of the Arrangement, was the accounting acquirer of Aviation Group. Aviation Group`s independent accountants, Hein + Associates LLP ("Hein"), had ceased serving as Aviation Group`s independent accountants following the completion of the Arrangement. Hein subsequently notified the Company that it had ceased serving in this role. As reported in its current report on Form 8-K filed August 16, 2001, on August 9, 2001, the Company engaged Grobstein, Horwath & Company LLP to serve as its independent accountants.
12. Delisting
Effective April 10, 2001, the Company`s publicly-traded securities were delisted from The Nasdaq Stock Market due to the inability of the Company to satisfy the initial listing criteria, including maintenance of a $4.00 bid price for the specified period. In the United States, the Company`s publicly-traded common stock and warrants continue to trade on the OTC Bulletin Board under the trading symbols TRIP and TRIPW, respectively.
Sale of assets
On June 26, 2001, the Company completed the sale of the assets of its Aero Design, Inc. subsidiary, which manufactured aircraft batteries, for $3.0 million. After selling expenses, the Company received net cash amounting to $2.4 million, which it used to pay down existing debt. The Company recorded a $23,000 gain on sale.
14. New accounting standards
In June 2001, the FASB issued Statement No. 141, Business Combinations, and Statement No. 142, Goodwill and Other Intangible Assets. Statement 141 requires that the purchase method of accounting be used for all business combinations initiated after June 30, 2001 as well as all purchase method business combinations completed after June 30, 2001. Statement 141 also specifies criteria intangible assets acquired in a purchase method business combination must meet to be recognized and reported apart from goodwill, noting that any purchase price allocable to an assembled workforce may not be accounted for separately. Statement 142 will require that goodwill and intangible assets with indefinite useful lives no longer be amortized, but instead tested for impairment at least annually in accordance with the provisions of Statement 142. Statement 142 will also require that intangible assets with definite useful lives be amortized over their respective estimated useful lives to their estimated residual values, and reviewed for impairment in accordance with SFAS No. 121, Accounting for the Impairment of Long-Lived Assets and for Long-Lived Assets to Be Disposed Of.
The Company is required to adopt the provisions of Statement 141 immediately, and to adopt Statement 142 effective January 1, 2002. Furthermore, any goodwill and any intangible asset determined to have an indefinite useful life that are acquired in a purchase business combination completed after June 30, 2001 will not be amortized, but will continue to be evaluated for impairment in accordance with the appropriate pre-Statement 142 accounting literature. Goodwill and intangible assets acquired in business combinations completed before July 1, 2001 will continue to be amortized prior to the adoption of Statement 142.
Statement 141 will require upon adoption of Statement 142, that the Company evaluate its existing intangible assets and goodwill that were acquired in a prior purchase business combination, and to make any necessary reclassifications in order to conform with the new criteria in Statement 141 for recognition apart from goodwill. Upon adoption of Statement 142, the Company will be required to reassess the useful lives and residual values of all intangible assets acquired in purchase business combinations, and make any necessary amortization period adjustments by the end of the first interim period after adoption. In addition, to the extent an intangible asset is identified as having an indefinite useful life, the Company will be required to test the intangible asset for impairment in accordance with the provisions of Statement 142 within the first interim period. Any impairment loss will be measured as of the date of adoption and recognized as the cumulative effect of a change in accounting principle in the first interim period.
In connection with the transitional goodwill impairment evaluation, Statement 142 will require the Company to perform an assessment of whether there is an indication that goodwill is impaired as of the date of adoption. To accomplish this the Company must identify its reporting units and determine the carrying value of each reporting unit by assigning the assets and liabilities, including the existing goodwill and intangible assets, to those reporting units as of the date of adoption. The Company will then have up to six months from the date of adoption
A FINANCIAL NIGHTMARE AT JUNE 30, 2001!
JUST LOOK AT ALL THOSE LAW SUITS!
OVER $217 MILLION IN TOTAL LOSSES NOW!
TRAVELBYUS HAS BEEN BLED DRY AND IS FINISHED. BANKRUPTCY WILL FOLLOW SHORTLY!
THE TRAVEL PORTION OF NET SALES IS NOW DECLINING!
NO WONDER THEY WERE DELINQUENT FILING THESE STATEMENTS!
Pat
JUST LOOK AT ALL THOSE LAW SUITS!
OVER $217 MILLION IN TOTAL LOSSES NOW!
TRAVELBYUS HAS BEEN BLED DRY AND IS FINISHED. BANKRUPTCY WILL FOLLOW SHORTLY!
THE TRAVEL PORTION OF NET SALES IS NOW DECLINING!
NO WONDER THEY WERE DELINQUENT FILING THESE STATEMENTS!
Pat
@ realhot
Hat der J.Krieble schon auf deine Mail geantwortet ???
gruß : mis
Hat der J.Krieble schon auf deine Mail geantwortet ???
gruß : mis
Hallo,
Neue Nachrichten zu TBU auf www.stockhouse.com,
vielleicht kann ja mal jemand den Text übersetzten, es geht um die Ausgabe von TBU-Aktien im Wert von 30 Millionen
Dollar.
Neue Nachrichten zu TBU auf www.stockhouse.com,
vielleicht kann ja mal jemand den Text übersetzten, es geht um die Ausgabe von TBU-Aktien im Wert von 30 Millionen
Dollar.
Ich melde mich die Tage...
I am very sorry Lothar,
I have also been very busy on many projects. I hope you understand my
position right now. I will try to call you tomorrow...it just have been a
very busy period (we are getting new brochures, coordinating the launch of
1-800 2travel, and attending Cruise-a-thon this week).
I am not trying to "put you off".
Best Regards,
Jeff Kriebel
I am very sorry Lothar,
I have also been very busy on many projects. I hope you understand my
position right now. I will try to call you tomorrow...it just have been a
very busy period (we are getting new brochures, coordinating the launch of
1-800 2travel, and attending Cruise-a-thon this week).
I am not trying to "put you off".
Best Regards,
Jeff Kriebel
@ass3000: Dein Name ist Programm ! Du hast oben geschrieben " Habe heute für 120 Euro Travelbyus - Aktien gekauft"
120 Euro ? Bist Du noch ganz dicht ?
Mit solchen Summen solltest Du nicht an die Börse sondern in die nächste Kneipe gehen !
Sorry, aber Deine Threads sind abgehakt - ist doch witzlos soetwas
120 Euro ? Bist Du noch ganz dicht ?
Mit solchen Summen solltest Du nicht an die Börse sondern in die nächste Kneipe gehen !
Sorry, aber Deine Threads sind abgehakt - ist doch witzlos soetwas
@freefly
Verpiss dich du Großkotz, weiter gibt es zu dir nichts zu
sagen.
Verpiss dich du Großkotz, weiter gibt es zu dir nichts zu
sagen.
Großkotz ? Glaube eigentlich nicht daß man das von mir behaupten kann (wer mich kennt weiß das ) Ich gebe zu, finanziell bin ich zufrieden und ich muß mittlerweile nicht mehr jeden Pfennig dreimal umdrehen ( bin viel gereist und jetzt erfreue ich mich an meinem jüngsten Sohn).
Du und einige andere hier im Board sollten sich aber überlegen, ob man seine finanzielle Situation nicht durch eine differenzierte und wohlüberlegte Anlagementalität schneller und sicherer verbessern kann, als die ohnehin schon wenige Kohle auf Risikokandidaten 1.Grades zu setzen.
Dazu solltet ihr euch mal Gedanken über die Gebühren machen - bei einem Kauf von Wertpapieren für 120 (!!!!!) Euro machen die Gebühren schon fast eine zweistellige Prozentsumme aus !
Junge, so wird das nichts !
Eine gute Anlagestrategie verteilt sich immer auf mehrere Säulen.
Davon sind ein Teil Aktien bzw. Aktienfonds,
ein Teil läuft in englische Lebensversicherungen ( annähernd doppelte Rendite wie die deutschen LV - in den letzten Jahrzehnten immer um die 10 - 12 % ),
ein Teil in Renten- bzw. Geldmarktfonds ( stete Wertsteigerung und somit sichere Geldreserve da täglich veräußerbar ).
Ein weiteres nicht zu unterschätzendes Investment sind Immobilien - was am Anfang einer finanziellen "Karriereleiter" meist noch nicht möglich ist , aber das kommt mit der Zeit !
Du und einige andere hier im Board sollten sich aber überlegen, ob man seine finanzielle Situation nicht durch eine differenzierte und wohlüberlegte Anlagementalität schneller und sicherer verbessern kann, als die ohnehin schon wenige Kohle auf Risikokandidaten 1.Grades zu setzen.
Dazu solltet ihr euch mal Gedanken über die Gebühren machen - bei einem Kauf von Wertpapieren für 120 (!!!!!) Euro machen die Gebühren schon fast eine zweistellige Prozentsumme aus !
Junge, so wird das nichts !
Eine gute Anlagestrategie verteilt sich immer auf mehrere Säulen.
Davon sind ein Teil Aktien bzw. Aktienfonds,
ein Teil läuft in englische Lebensversicherungen ( annähernd doppelte Rendite wie die deutschen LV - in den letzten Jahrzehnten immer um die 10 - 12 % ),
ein Teil in Renten- bzw. Geldmarktfonds ( stete Wertsteigerung und somit sichere Geldreserve da täglich veräußerbar ).
Ein weiteres nicht zu unterschätzendes Investment sind Immobilien - was am Anfang einer finanziellen "Karriereleiter" meist noch nicht möglich ist , aber das kommt mit der Zeit !
Ich habe am Freitag eine Beschwerde bei der SEC in den
USA eingelegt.
Habe bereits eine Antwort, werde diese aber erst morgen
oder später posten, da diese Antwort nicht zufriedenstellend
war.
Melde mich ganz sicher.
Realhot
USA eingelegt.
Habe bereits eine Antwort, werde diese aber erst morgen
oder später posten, da diese Antwort nicht zufriedenstellend
war.
Melde mich ganz sicher.
Realhot
Die Amis haben jetzt bestimmt das große Zittern "Der" mächtige deutsche Kleinanleger hat "Beschwerde" eingelegt
Das interessiert die doch absolut nicht !
Das interessiert die doch absolut nicht !
Feefly,
Ich bin nicht der Kleinaktionär von nebenan.
Mit der Stückzahl weit über 100.000 Stück sind das
einige kleine % von allen ausstehenden Aktien.
Außerdem wollte ich mit dieser Aktion ermitteln,ob
es eine gesetzliche Möglichkeit gibt, das Management
von TBU zu Aussagen gegenüber den Aktionären zu zwingen.
Das ich alleine dort nichts bewege, ist mir auch klar.
Falls Du nicht in TBU investiert bist, was machst Du
hier dann ??
Außerdem, irgendeiner macht immer den Anfang.
Bitte keine Beschimpfungen hier.
Diese Board ist sauber, ok ?
Danke Dir
Ich bin nicht der Kleinaktionär von nebenan.
Mit der Stückzahl weit über 100.000 Stück sind das
einige kleine % von allen ausstehenden Aktien.
Außerdem wollte ich mit dieser Aktion ermitteln,ob
es eine gesetzliche Möglichkeit gibt, das Management
von TBU zu Aussagen gegenüber den Aktionären zu zwingen.
Das ich alleine dort nichts bewege, ist mir auch klar.
Falls Du nicht in TBU investiert bist, was machst Du
hier dann ??
Außerdem, irgendeiner macht immer den Anfang.
Bitte keine Beschimpfungen hier.
Diese Board ist sauber, ok ?
Danke Dir
Hier die Antwort auf meine Frage,ob man gegen TBU angehen
kann, in Punkto Antworten...
Dear Mr.XX,
Thank you for your follow-up e-mail.
As I noted in my prior response, the company has recently filed a Form 8-K
that addressed its restructuring. This filing satisfies its disclosure
requirements under the SEC rules and regulations. Beyond this, our office
cannot provide you with legal advice.
Your rights as a shareholder primarily are governed by state and not
federal law as well as the company`s by laws and articles of incorporation.
However, the SEC laws and regulations do address shareholder proposals. For
information on shareholder proposals, please read our "Fast Answer" and the
links provided at http://www.sec.gov/answers/shareholderprop.htm.
Sincerely,
Ann H. Sulzberg
Special Counsel
U.S. Securities and Exchange Commission
Office of Investor Education and Assistance
kann, in Punkto Antworten...
Dear Mr.XX,
Thank you for your follow-up e-mail.
As I noted in my prior response, the company has recently filed a Form 8-K
that addressed its restructuring. This filing satisfies its disclosure
requirements under the SEC rules and regulations. Beyond this, our office
cannot provide you with legal advice.
Your rights as a shareholder primarily are governed by state and not
federal law as well as the company`s by laws and articles of incorporation.
However, the SEC laws and regulations do address shareholder proposals. For
information on shareholder proposals, please read our "Fast Answer" and the
links provided at http://www.sec.gov/answers/shareholderprop.htm.
Sincerely,
Ann H. Sulzberg
Special Counsel
U.S. Securities and Exchange Commission
Office of Investor Education and Assistance
Hallo realhot,
warum die plötzliche Skepsis gerade zu diesem Zeitpunkt?
Solange tbu die filing Vorschriften erfüllt, ist offiziell
doch alles i.O.
Viele Fragen kann man tbu nur selber stellen, aber seit
Monaten ist bekannt, dass tbu die Fragen seiner Shareholder
schicht und ergreifend ignoriert.
Dies ist schließlich auch der Grund, warum sich die deutsche
IR vor einigen Wochen zurückgezogen hat.
Man könnte unterstellen, dass sich einige bei tbu durch das
Geld der Shareholder maßlos bereichert haben (ich denke da an Kerby und Rooney), beweisen kann man es aber wohl nicht.
Du hast nur folgende Wahl: hold or sell - beide Alternativen
dürften tbu schei**egal sein - die Drahtzieher dieser
Blase haben ihren guten Schnitt bereits gemacht!
showDown
warum die plötzliche Skepsis gerade zu diesem Zeitpunkt?
Solange tbu die filing Vorschriften erfüllt, ist offiziell
doch alles i.O.
Viele Fragen kann man tbu nur selber stellen, aber seit
Monaten ist bekannt, dass tbu die Fragen seiner Shareholder
schicht und ergreifend ignoriert.
Dies ist schließlich auch der Grund, warum sich die deutsche
IR vor einigen Wochen zurückgezogen hat.
Man könnte unterstellen, dass sich einige bei tbu durch das
Geld der Shareholder maßlos bereichert haben (ich denke da an Kerby und Rooney), beweisen kann man es aber wohl nicht.
Du hast nur folgende Wahl: hold or sell - beide Alternativen
dürften tbu schei**egal sein - die Drahtzieher dieser
Blase haben ihren guten Schnitt bereits gemacht!
showDown
Hallo,
Ich wollte nur mal nachfragen ob es außer mir noch jemanden
gibt ,der auch noch seine TBU Aktien behalten hat.
Es wäre schön, wenn jemand mal eine Neuigkeit über diese
Firma berichten könnte.
In Stockhouse finden ja lebhafte Disskussionen statt,nur
kann ich mit meinen wenigen Englischkenntnissen kaum etwas
verstehen.
Vielleicht kann ja mal jemand aus diesen Boards was über-
setzen.
Danke im Voraus
Ich wollte nur mal nachfragen ob es außer mir noch jemanden
gibt ,der auch noch seine TBU Aktien behalten hat.
Es wäre schön, wenn jemand mal eine Neuigkeit über diese
Firma berichten könnte.
In Stockhouse finden ja lebhafte Disskussionen statt,nur
kann ich mit meinen wenigen Englischkenntnissen kaum etwas
verstehen.
Vielleicht kann ja mal jemand aus diesen Boards was über-
setzen.
Danke im Voraus
Hallo ass3000,
ich habe meine Aktien bis heute behalten. Was bringt es auch, zu diesen Preisen zu verkaufen. Entweder es kommt etwas dabei rum oder die Kohle ist weg.
Warten wir es einfach ab. Die Zeit wird es bringen.
Bis dann
Don Schneider
ich habe meine Aktien bis heute behalten. Was bringt es auch, zu diesen Preisen zu verkaufen. Entweder es kommt etwas dabei rum oder die Kohle ist weg.
Warten wir es einfach ab. Die Zeit wird es bringen.
Bis dann
Don Schneider
Richtig so ! Alles oder nichts So macht man Geld Gewinne begrenzen , Verluste laufen lassen Ich kenn den Spruch irgendwie andersrum
Frohes Neues euch allen ...
Geht mal bitte auf die TBU Homepage und versucht mal einen Flug zu buchen...
Also bei mir erscheint ein Fenster von Cheap Seats und unten
ein Logo von SABRE ...
Auf der HP von Cheap Seats ist noch ein Link von "Sabre-virtually there"...
??? WAS BEDEUTET DAS ???
Oder ist das nichts Besonderes ?
viel Glück
mis
Geht mal bitte auf die TBU Homepage und versucht mal einen Flug zu buchen...
Also bei mir erscheint ein Fenster von Cheap Seats und unten
ein Logo von SABRE ...
Auf der HP von Cheap Seats ist noch ein Link von "Sabre-virtually there"...
??? WAS BEDEUTET DAS ???
Oder ist das nichts Besonderes ?
viel Glück
mis
Vielleicht hat tbu sabre gekauft
Hallo,
TBU gestern in Amerika 140% im Plus, kommen da eventuell
positive News.
Die gesamte Onlinereisebranche hat starken Zulauf in den
letzten Monaten gehabt,wann wird TBU endlich mal aus dem
Tal der Tränen aufsteigen.
Weiß jemand wann die nächsten Zahlen kommen?
TBU gestern in Amerika 140% im Plus, kommen da eventuell
positive News.
Die gesamte Onlinereisebranche hat starken Zulauf in den
letzten Monaten gehabt,wann wird TBU endlich mal aus dem
Tal der Tränen aufsteigen.
Weiß jemand wann die nächsten Zahlen kommen?
@ass 3000
Sieht so aus,als ob alle die Hoffnungen aufgegeben haben
mis
Sieht so aus,als ob alle die Hoffnungen aufgegeben haben
mis
@mis
Jep, ich hab meinen Einsatz schon lange abgeschrieben. Bin bei ca 2.75Euro eingestiegen und hab sie dummerweise gehalten. War zwischendurch am überlegen ob ich nachkaufen soll, weil auf 3Euro werden die in 1000Jahren nicht mehr gehen?!! Nun ja, nachkaufen würd ich wenn gute Nachrichten kommen würden, die müssten aber wirklich gut sein!!!
Wünsche uns allen das es mal wieder nach oben gehen würd, aber...
Jep, ich hab meinen Einsatz schon lange abgeschrieben. Bin bei ca 2.75Euro eingestiegen und hab sie dummerweise gehalten. War zwischendurch am überlegen ob ich nachkaufen soll, weil auf 3Euro werden die in 1000Jahren nicht mehr gehen?!! Nun ja, nachkaufen würd ich wenn gute Nachrichten kommen würden, die müssten aber wirklich gut sein!!!
Wünsche uns allen das es mal wieder nach oben gehen würd, aber...
In Amerika von 0,02$ auf 0,035 $; das sind plus 75%!!!
Warum steigt eine tote Aktie? Ist sie doch noch nicht tot?
Warum steigt eine tote Aktie? Ist sie doch noch nicht tot?
Hallo,
Auffällig ist das schon, obwohl diese Kurssteigerung bei
nur 1000 Dollar Gesamtumsatz zustande gekommen ist.
Aber vielleicht kauft sich da jemand ganz langsam still
und leise ein.
Bei größeren Kauforders in Amerika würde der Kurs ganz schnell hochschießen.
Auffällig ist das schon, obwohl diese Kurssteigerung bei
nur 1000 Dollar Gesamtumsatz zustande gekommen ist.
Aber vielleicht kauft sich da jemand ganz langsam still
und leise ein.
Bei größeren Kauforders in Amerika würde der Kurs ganz schnell hochschießen.
Die totgesagte Aktie travelbyus zuckt weiter;
heute in Amerika von 0,035 $ auf 0,04 $, das sind plus 14,3 %!!
Weiß jemand, wie viele Aktien in den letzten Tagen in
Kanada gehandelt wurden und zu welchen Kursen??
heute in Amerika von 0,035 $ auf 0,04 $, das sind plus 14,3 %!!
Weiß jemand, wie viele Aktien in den letzten Tagen in
Kanada gehandelt wurden und zu welchen Kursen??
Mit meinen Aktien werde ich wohl paar Hochhäuser Tapezieren können !
Hallo
Hat jemand in letzter Zeit TBU angemailt und eine Antwort bekommen ?
Also mir haben die nichts zurück geschrieben !
Zahlen sind immer noch nicht raus !
Wenn man was buchen will kommt Cheap Seats "mit Sabre" !
(was das wohl zu bedeuten hat???...)
Scheiß Laden
mis
Hat jemand in letzter Zeit TBU angemailt und eine Antwort bekommen ?
Also mir haben die nichts zurück geschrieben !
Zahlen sind immer noch nicht raus !
Wenn man was buchen will kommt Cheap Seats "mit Sabre" !
(was das wohl zu bedeuten hat???...)
Scheiß Laden
mis
In der letzten SPIEGEL-Ausgabe steht ein Bericht,
dass die Kreuzschifffahrt in Aufwärtstrend liegt.
War Travelbyus in diesem Reisesegment nicht auch
engagiert?
dass die Kreuzschifffahrt in Aufwärtstrend liegt.
War Travelbyus in diesem Reisesegment nicht auch
engagiert?
@Neutral
Hatte sogar mal auf Stockhouse gelesen,das TBU die Nr.1 bei Kreuzschiffahrten wären !!!
Aber wer weiß,ob das alles stimmt,was auf Stockhouse geschrieben wird !!!
mis
Hatte sogar mal auf Stockhouse gelesen,das TBU die Nr.1 bei Kreuzschiffahrten wären !!!
Aber wer weiß,ob das alles stimmt,was auf Stockhouse geschrieben wird !!!
mis
Habe auch gehört,das die Zahlen bis zum 15.02 raus sein müssen!
Der 15. wäre der letzte Tag für den TSE,um nicht delisted zu werden!
Wenn was Gutes in der Pipeline wäre,dann müsste TBU so langsam anspringen....... aber .......????!!!!
who knows
viel glück
mis
Der 15. wäre der letzte Tag für den TSE,um nicht delisted zu werden!
Wenn was Gutes in der Pipeline wäre,dann müsste TBU so langsam anspringen....... aber .......????!!!!
who knows
viel glück
mis
zur erinnerung, die QSB10 kamen letztes jahr am 20.2.
warten wir mal ab wann sie kommen.
zu stockhouse: soviel schrott kann man nicht mehr lesen. das hat mit fakten nichts zu tun!!!!!!!!!!!!!!!!!
gruss
bill bo
warten wir mal ab wann sie kommen.
zu stockhouse: soviel schrott kann man nicht mehr lesen. das hat mit fakten nichts zu tun!!!!!!!!!!!!!!!!!
gruss
bill bo
Hallo,
Die Onlinereisebranche kommt in Bewegung, Travelocity wird
von Sabre übernommen, ein großes Aktienpaket von Expedia wird laut Nachrichten auf NTV in Amerika den Besitzer wechseln. Auch bei Travel 24 gehen seit Wochen Gerüchte um, das eine Übernahme bevorsteht, darauf deuten auch 2 Käufe
in den letzten Tagen von je 100000 Aktien zu 1,3 Euro hin.
Wann wird TBU geschluckt oder ist die Firma wirklich so wertlos wie es der derzeitige Kurs ausdrückt?
Von Zahlen ist auch weit und breit nichts zu hören oder kann
irgendwer etwas Neues berichten.
Die Onlinereisebranche kommt in Bewegung, Travelocity wird
von Sabre übernommen, ein großes Aktienpaket von Expedia wird laut Nachrichten auf NTV in Amerika den Besitzer wechseln. Auch bei Travel 24 gehen seit Wochen Gerüchte um, das eine Übernahme bevorsteht, darauf deuten auch 2 Käufe
in den letzten Tagen von je 100000 Aktien zu 1,3 Euro hin.
Wann wird TBU geschluckt oder ist die Firma wirklich so wertlos wie es der derzeitige Kurs ausdrückt?
Von Zahlen ist auch weit und breit nichts zu hören oder kann
irgendwer etwas Neues berichten.
Hallo,
In Berlin heute über 50000 Aktien zu 3 Cent gehandelt,das sind bei TBU ja schon "Riesenumsätze", in Frankfurt nur zu
2 Cent gehandelt. Warum bezahlen die in Berlin 30 % mehr
für die Aktie, gibts vielleicht etwas Neues zu berichten?
TBU bringt anscheinend gar keine Zahlen mehr heraus, ich
würde diesen Saftladen gerne mal besuchen und denen den
Arsch aufreißen, ist leider zu weit weg.
In Berlin heute über 50000 Aktien zu 3 Cent gehandelt,das sind bei TBU ja schon "Riesenumsätze", in Frankfurt nur zu
2 Cent gehandelt. Warum bezahlen die in Berlin 30 % mehr
für die Aktie, gibts vielleicht etwas Neues zu berichten?
TBU bringt anscheinend gar keine Zahlen mehr heraus, ich
würde diesen Saftladen gerne mal besuchen und denen den
Arsch aufreißen, ist leider zu weit weg.
The Ontario Securities Commission: Travelbyus.com Ltd.
TORONTO, ONTARIO, Feb 27, 2002 (CCN Newswire via COMTEX) --
Temporary Cease Trading Order on February 27, 2002 for
failure to make statutory filings, hearing will take place
on March 11th, 2002 at 10:00 a.m.
CONTACT:
Ontario Securities Commission
Inquiries
(416) 593-8314
inquiries@osc.gov.on.ca
Copyright (C) 2002, Canadian Corporate News. All rights reserved.
NEWS RELEASE TRANSMITTED BY CCN NEWSWIRE
--------------------------
WAS FÜR EIN TRÜMMERLADEN!!
showDown
TORONTO, ONTARIO, Feb 27, 2002 (CCN Newswire via COMTEX) --
Temporary Cease Trading Order on February 27, 2002 for
failure to make statutory filings, hearing will take place
on March 11th, 2002 at 10:00 a.m.
CONTACT:
Ontario Securities Commission
Inquiries
(416) 593-8314
inquiries@osc.gov.on.ca
Copyright (C) 2002, Canadian Corporate News. All rights reserved.
NEWS RELEASE TRANSMITTED BY CCN NEWSWIRE
--------------------------
WAS FÜR EIN TRÜMMERLADEN!!
showDown
Hallo
TBU ist auch in Frankfurt vom Handel ausgesetzt !!!
DRECKSLADEN !!!
TBU ist auch in Frankfurt vom Handel ausgesetzt !!!
DRECKSLADEN !!!
steigen die heute noch?
Hallo,
TBU scheint wohl endgültig platt zu sein, in Amerika noch
0,006 wert. Warum wurde der Handel in Kanada und Deutsch-
land ausgesetzt ? Wahrscheinlich weil TBU einfach keine
Unternehmenszahlen bringt. Wenn man nur solche Verbrecher
(Kerby und Konsorten )endlich mal richtig jagen und bestrafen würde.
TBU scheint wohl endgültig platt zu sein, in Amerika noch
0,006 wert. Warum wurde der Handel in Kanada und Deutsch-
land ausgesetzt ? Wahrscheinlich weil TBU einfach keine
Unternehmenszahlen bringt. Wenn man nur solche Verbrecher
(Kerby und Konsorten )endlich mal richtig jagen und bestrafen würde.
New Vice President for Cruise Shoppes
FT. LAUDERDALE, Fla., Mar 5, 2002 /PRNewswire-FirstCall via COMTEX/
-- The Cruise Shoppes division of travelbyus, a leading
provider of marketing services for the travel industry,
has announced the hiring of Vince Deely, Vice President of
Marketing.
"With Vince joining travelbyus, we plan to initiate
exciting new marketing programs," said Shawn Tubman,
President of Cruise Shoppes. "Vince offers an extensive
background in marketing for cruise and leisure travel, and
his hiring will strengthen our ability to provide valuable
marketing benefits to travel agency members and suppliers."
travelbyus is a vertically integrated travel company,
providing customized marketing and online distribution
services to over 1,500 travel agencies throughout the
United States. The company is headquartered in Ft.
Lauderdale, Florida.
SO,SO - NEUE MARKETINGPROGRAMME...
VON WELCHER KOHLE WOLLEN DIE DENN
DAS FINANZIEREN - DIESE TRÄUMER...
OFFENSICHTLICH GIBT ES FÜR DIE
HERREN WICHTIGERE DINGE, ALS EIN
ÜBER-, ÜBERFÄLLIGES FILING.
showDown
FT. LAUDERDALE, Fla., Mar 5, 2002 /PRNewswire-FirstCall via COMTEX/
-- The Cruise Shoppes division of travelbyus, a leading
provider of marketing services for the travel industry,
has announced the hiring of Vince Deely, Vice President of
Marketing.
"With Vince joining travelbyus, we plan to initiate
exciting new marketing programs," said Shawn Tubman,
President of Cruise Shoppes. "Vince offers an extensive
background in marketing for cruise and leisure travel, and
his hiring will strengthen our ability to provide valuable
marketing benefits to travel agency members and suppliers."
travelbyus is a vertically integrated travel company,
providing customized marketing and online distribution
services to over 1,500 travel agencies throughout the
United States. The company is headquartered in Ft.
Lauderdale, Florida.
SO,SO - NEUE MARKETINGPROGRAMME...
VON WELCHER KOHLE WOLLEN DIE DENN
DAS FINANZIEREN - DIESE TRÄUMER...
OFFENSICHTLICH GIBT ES FÜR DIE
HERREN WICHTIGERE DINGE, ALS EIN
ÜBER-, ÜBERFÄLLIGES FILING.
showDown
@ show down
Hallo,
Du hast schon recht, aber mir gibt diese Meldung ein wenig
Hoffnung das dieser Haufen doch noch nicht pleite ist.
Weiß jemand wann der Handel wieder aufgenommen werden soll?
Hallo,
Du hast schon recht, aber mir gibt diese Meldung ein wenig
Hoffnung das dieser Haufen doch noch nicht pleite ist.
Weiß jemand wann der Handel wieder aufgenommen werden soll?
Die Hoffnung stirbt zuletzt.
travelbyus.com Ltd - News Release
travelbyus.com under TSE review
travelbyus.com Ltd TBU
Shares issued 106,114,314 Mar 7 2002 close $.030
Thursday Mar 7 2002 News Release
Mr. Steve Kee of the TSE reports
The Toronto Stock Exchange is reviewing the exchangeable shares of travelbyus.com with respect to meeting the requirements for continued listing. The company is being reviewed on an expedited basis.
(c) Copyright 2002 Canjex Publishing Ltd. http://www.canada-stockwatch.com
travelbyus.com under TSE review
travelbyus.com Ltd TBU
Shares issued 106,114,314 Mar 7 2002 close $.030
Thursday Mar 7 2002 News Release
Mr. Steve Kee of the TSE reports
The Toronto Stock Exchange is reviewing the exchangeable shares of travelbyus.com with respect to meeting the requirements for continued listing. The company is being reviewed on an expedited basis.
(c) Copyright 2002 Canjex Publishing Ltd. http://www.canada-stockwatch.com
Hallo zusammen
Was passiert,wenn tbu delisted wird ...?
dann hätten wir nur in fünftel von dem,was wir haben und
trip steht bei 0,02 ....
.........
mis
Was passiert,wenn tbu delisted wird ...?
dann hätten wir nur in fünftel von dem,was wir haben und
trip steht bei 0,02 ....
.........
mis
travelbyus.com Ltd - Cease Trade Company
travelbyus.com cease trade by the OSC continues
travelbyus.com Ltd TBU
Shares issued 106,114,314 Mar 8 2002 close $.030
Monday Mar 11 2002 Cease Trade Company
The cease trade order issued by the Ontario Securities Commission on Feb. 27, 2002, continued March 11, 2002.
(c) Copyright 2002 Canjex Publishing Ltd. http://www.canada-stockwatch.com
travelbyus.com cease trade by the OSC continues
travelbyus.com Ltd TBU
Shares issued 106,114,314 Mar 8 2002 close $.030
Monday Mar 11 2002 Cease Trade Company
The cease trade order issued by the Ontario Securities Commission on Feb. 27, 2002, continued March 11, 2002.
(c) Copyright 2002 Canjex Publishing Ltd. http://www.canada-stockwatch.com
Ich kann Euch nicht verstehen, warum tut ihr Euch das an.
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