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Conversion Solutions Holdings Corp. (CSHD)

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Conversion Solutions Holdings Corp is a development-stage diversified holdings company, currently under major restructuring due to SEC litigation. The company's purpose is to acquire, provide funding and insurance to private companies in the $15,000,000 to $100,000,000 asset finance market.^[1] Conversion Solutions was in the process of merging with The FrontHaul Group in a deal the now ousted CEO Paul Rufus Harris claimed to be worth $15 per share according to the recent 10-KSB.

1 Snapshot
- 1.1 Investigation
- 1.2 FrontHaul Merger
2 Recent Events
3 Leadership
4 Risks
5 History
6 Fundamentals
7 Technical Analysis
8 Official Links
9 Research Links
10 Rumors
11 Message Boards
12 Notes

Today

Max

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Snapshot

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Investigation

The SEC filed a complaint and restraining order against CSHD and suspended trading under rule 15c2-11. The SEC alleges that CEO Paul Rufus Harris has lied to the public about Conversion Solutions' assets and book value to inflate the share price.

As of November 2, 2006, CEO Paul Rufus Harris has been fired from CSHD and Michael Alexander will assume control of the company. Shareholders have approved removal of the board of directors and termination of all CSHD employment contracts. The November 2 announcement cites erroneous information provided in CSHD press releases and financial statements that caused the NASD delisting and SEC investigation.

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FrontHaul Merger

On July 8, 2006, The FrontHaul Group, entered into a Merger Agreement with Conversion Solutions. The deal is for CSHD to be merged into FHAL, with FHAL continuing after the merger as the surviving corporation. ^[1].

According to the 10-KSB filed Monday, October 16, the merger was to be executed at the close of business on October 30, 2006. All CSHD shareholders were to receive a share value of $15/share for CSHD stock. Currently, the company has been suspended by the SEC and the CEO faces an ongoing trial. However, new management insists the six to one threshold price reset will procede eventually.

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Recent Events

More News...

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Leadership

John Arlitt New Chief Executive Officer, President, Chairman of the Board

Randy Moseley * New CFO named November 2, 2006

The following executives have been terminated from the company -

Rufus Paul Harris * CEO and Chairman of the Board * Cell Phone: 678-255-7650

Darryl Horton * Chief Financial Officer

Institutional Holdings

at www.secinfo.com

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Risks

Company is currently suspended from regular OTC trading and under investigation by the SEC. A shareholder committee has been formed to help restructure the company.

Stock Lemon claims CSHD is a scam August 9, 2006

Stockwatch.com provides ongoing coverage that new CEO John Arlitt is a shady stock promoter specializing in pump-schemes.

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History

This section needs content! Click the blue edit link (to the right) to contribute.

Stockwatch provides a thorough, albeit negatively-tilted history of CSHD.

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Fundamentals

Note: In light of recent events, all of the fundamental information presented here is under investigation by the SEC and should probably be regarded with due concern.

Form 10-KSB filed Monday, October 16

Net Income for the fiscal year ending June 30, 2006 was $18,530,865.

Total Assets for the fiscal year was $830,009,352.

Total Shares Issued for the fiscal year was 62,489,721, giving CSHD an estimated book value of $12.63 as of June 30, 2006.

According to the October 16, 2006 Press Release, CSHD also owns Lehman Brothers Holdings PLC Bonds worth $450,000,000 Euro ($564,092,494.32 USD as of October 16, 2006 at 7:26 pm), the Republic of Finland Sovereign Bonds of $749,000,000 Euro ($939,000,348.90 USD as of October 16, 2006 at 7:26 pm) and the Contract expansion with the Caracas Group of $5,000,000,000 USD the corporation currently has an asset portfolio of $7,292,601,135.22.

According to CSHD the total current issued shares of the new corporation post-merger will be 103,135,657, which CSHD believes will give the new corporation an estimated book value of $70.71.

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Technical Analysis

This section needs content! Click the blue edit link (to the right) to contribute.

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Official Links

Conversion Solutions, Inc. Home Page

CSHD Shareholder Committee Homepage

The transfer agent and registrar of CSHD is Integrity Stock Transfer, 2920 N. Green Valley Parkway, Building 5, Suite 527, Las Vegas, NV 89014; telephone 1.877.317.7757.