Alterras Systems Inc (fka ASIUQ)

[Renee]

ASIUQ registration revoked:

https://www.sec.gov/litigation/opinions/2019/34-86142.pdf

[Renee]

ASIUQ SEC Suspension for delinquent Financials:

https://www.sec.gov/litigation/suspensions/2018/34-84037.pdf

Order:

https://www.sec.gov/litigation/suspensions/2018/34-84037-o.pdf

Admin. Proceeding:

https://www.sec.gov/litigation/admin/2018/34-84040.pdf

[Zorch305]

gapper

[buxmaker]

Why is this stock rising? I have noticed some major moves in several bankrupt penny stocks in the last few trading days. Any idea why?

[wealththrupennies]

banking big here

[Zorch305]

good news coming here soon

[tripil7z]

thnx

[wealththrupennies]

nice one

[TheFinalCD]

ANYONE SEE THIS TODAY= http://investorshub.advfn.com/boards/read_msg.aspx?message_id=126300742


OR THIS ONE= http://investorshub.advfn.com/Local-Corp-LOCMQ-11111/


ASIUQ Security Details
Share Structure
Market Value1 $48,008 a/o Nov 02, 2016
Authorized Shares Not Available
Outstanding Shares 96,016,003 a/o Jul 26, 2013
-Restricted Not Available
-Unrestricted Not Available
Held at DTC Not Available
Float Not Available

[TheFinalCD]

ASIUQ any volume here and she blows up....

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=98338938

[RicAtari]

GO ASIUQ!!!

[RicAtari]

Loading... The Boom is coming.

[junkHustler]

And experience bests hope again.

Saved myself some heartache. Im getting good at this. :)

[jjr04001]

something goin on here?

[robtcohen]

$ASIUQ is on life support. Is our company bepng stubborn/mal-adaptive? A marijuana future is clearer than ever. What is holding back the obvious? The medical and/or the recreational State by State legalizations are becoming more acceptable & normative: Not in the hang 'em high nutty Singapore's, so never mind. Take the tax loss and move on, my fellow fools, or let's try to be less impatient while waiting for leadership sagacity. BTW: Costly artificial light is not integral in rooftop mode agriculture.

[sandtrap246]

ok I'll bite...what do you think is brewing besides bankruptcy?

they're what...27 mil in debt?

[buxmaker]

Something is brewing here. Buying returning to ASIUQ along with bid support. This one shot to .04 a few weeks back, hopefully it has a similar spurt left in it.

[iateone2]

Did anyone call the company ?

[integracer02]

Okay, thanks.

[CigsNWhiskey]

It's a Canadian company, so the bankruptcy options are very likely different from Chs. 7 or 11.

[integracer02]

Anyone know if they filed ch. 11 or ch. 7 bankruptcy? Just wondering if they have provided a plan of reorganization or if they are calling it quits all together.

[ospreyeye]

ASIUQ Chart: On the Radar.........$$$

[HotStockAce]

ASIUQ any volume here and she blows up....

[Renee]

ASIUF changed to ASIUQ, bankruptcy:

http://www.otcbb.com/asp/dailylist_detail.asp?d=02/11/2014&mkt_ctg=NON-OTCBB

[The Only Way is UP]

My comment that the UK team really messed it up was meant as a joke as the UK team got blamed for everything.
I was part of the UK team, Vancouver tried to copy what we did without knowing the small things that make it work as they said we was not needed now it was working.

I am now working in Bahrain on a 10 acre nursery running the Growing and Business development side ( but again no university degree so what do I know)
see web site www.localsalads.com

[ravena]

Almost anything is achievable if you have the money, and a new corporate entity to carry a VertiCrop project forward unencumbered by the debt load Alterrus were burdened with, would certainly have a head start. We already know from comments posted by The Only Way is Up that the expertise to correct the faults in the Vancouver system is available, but any new investor will no doubt be weighing up all the "vertical farming" options now available, bearing in mind the fall out from the Vancouver systems failure (i.e. the effect on the credibility of the VertiCrop technology). The latter also demonstrated some shortcomings that went beyond mechancial failure - the inability to meet crop production estimates being one. Those who designed and built the Paignton unit were fully aware that the VertiCrop system needed ongoing modifications and refinements to meet its full potential, but were never given the opportunity to develop these. The R&D facility that remained at Paignton, never resolved these shortcomings because it simply lacked the in-house expertise, and we all know what happened to the Valcent EU team who posessed the latter.

[NewCo]

You would be surprised what can be done....

[ravena]

The Only Way is Up I believe your statement that the UK Team really messed things up must be a typo? I don't believe you can hold any of the UK Team responsible for the situation that now exists with Alterrus! In fact, if they had kept that team together, the liklihood is that the systems failure with the roof-top VertiCrop in Vancouver, would never have happened. Don't forget the modifications that were incorporated in that unit (as opposed to the prototype configuration in Paignton) came out of the Vancouver office, not the UK. The problem now is that I hear the system failure is so severe that it is not just a question of a repair, but a major re-design and complete re-build. Anybody taking it on therefore, is going to have to make a substantial investment up front, way beyond the cost of purchasing the assets of the company.

[The Only Way is UP]

Well it looks as if the UK Team really messed it up this time.
Such a shame they are all working on Very Large scale Commercial Nursery projects. We could have sown seeds by hand and cut with produce with scissors like real Gardeners do ( I think Not)

Canada: Failure of high-tech rooftop greenhouse leaves $4-million trail of debt

The failure of the Alterrus rooftop greenhouse has left investors and creditors holding the bag for about $4 million and the city’s parking corporation EasyPark out of pocket for at least $13,104 in unpaid rent.

EasyPark’s liability could rise if the company is forced to remove the high-tech enclosure and mechanized vertical growing systems left on a downtown parking garage by the bankruptcy of Alterrus and its operating partner and marketing arm Local Garden Vancouver.

But EasyPark would much rather see a new tenant step in to run the greenhouse, according to company spokesman Drew Snider.

“Bowra Group [the bankruptcy trustee] may be able to find somebody to keep the greenhouse in place,” said Snider. “As the lessor, we are going to work with them to see if we can keep it running in some way.”

For the city, the financial hardship is unlikely to be significant. EasyPark collected $26,000 in rent from Local Garden for ten months ending in August, for a property that generated no income the previous year.

LGV’s costs were exceeded by its revenue, said trustee Martin Hyatt. According to bankruptcy documents, LGV is owed only $29,153 by its customers, while wages owed by the company to employees and payroll deductions owed to Canada Revenue Agency total $36,000.

Total liabilities listed for the twin bankruptcies of Local Garden Vancouver and Alterrus are about $4 million. The largest secured creditor is Vancity Capital Corporation, which loaned Alterrus $1.2 million, according to Hyatt. Venture investor and Alterrus director Clay Haeber — a former IT director for Lululemon Athletica — is out $940,000.

Neither Vancity nor Haeber are likely to recover anything from the bankruptcy proceedings, said Hyatt.

Read the complete story by Randy Shore at vancouversun.com

[LiquidCourage]

Feels like a family member just passed as I read the news on Alterrus. Just to let you know how long I've been a follower of the company, below is a link to the article that introduced me to Valcent. From that April day in 2008, I followed the company. Too bad to see it come to this.




http://www.cnn.com/2008/TECH/science/04/01/algae.oil/index.html?iref=newssearch" rel="nofollow" target="_blank" >http://www.cnn.com/2008/TECH/science/04/01/algae.oil/index.html?iref=newssearch

[wingtrade]

I hope something good happens for shareholders.

[NewCo]

No Connection to Brusatore, I have never met him but I heard he was looking into this and that he is one of the best in the world in Vertical Farming design and process, I hope he does something it could make the stock move and give shareholders hope.

[NewCo]

[wingtrade]

[NewCo]

I think its a terrible loss for the shareholders and I hope something can be reserected

[wingtrade]

NewCo... i've been watching this since it was still called valcent... what do you think about this BK filing?

[The Only Way is UP]

Nick started Terrasphere a vertical growing company built it up and then sold it. He has now started another company,
For an invester in Alterrus or Valcent I would have thought that Nick would have been on your radar if any due diligence was done.
He has a Hollywood connection to Pamela Anderson and sting.

[NewCo]

My friend knows this Nick Brusatore guy and said he is looking at a takeover.. who is this guy anyone know ?
https://www.facebook.com/pages/Vertical-designs-Ltd/179196965540589?ref=hl

[NewCo]

[NewCo]

[The Only Way is UP]

They had a huge opportunity but refused to listen to commercial growers who advised them on what changes to make to make this suitable for commercial growers.
But what did the UK team know, after all we made it work Not el passo. we redefined it,We automated it, then it got took to pieces and made a home hobby piece of equipment in Vancouver.
Bound to fail as the COGS was far to high and who had any commercial growing experience.

Same as the others in time they will fall the same way the COGS is out of reach. Understand commercial growing then it will work if you do not understand how growing works then it will fail.

[The Only Way is UP]

[The Only Way is UP]

Well all the Management in the UK was promised shares but Valcent never delivered. S.Fane came in and took all the credit for the work the UK team did then effectively told us to leave.
We was not needed as it was marketing that would lead the company forward.

[Barunuuk]

Broccoli the cause of all of this?
Yeah, someone is going to get this technology at an incredibly reduced price. I wonder if the attempts to grow Broccoli (which was stated on their FB site), had anything to do with the breakdown, as the weight of Broccoli would have been much greater than that of any of the leafy greens. I do not know if that is the case, but was putting it out there, as it jumped out as maybe being a concern when I first read that.

I find it interesting all the creditors going after Alterrus to get their money back, and not trying to resolve anything to help get the company on its feet. When they claim bankruptcy, then no one wins, but had they been given more room to commercialize their process, this might not have been the outcome, and those creditors could have regained their costs and then some. The lawyers were the ones laughing all the way to the bank!

[ravena]

So am I am right in believing that the likely outcome now is an eventual sale of the assets of the Company through the official receiver - the assets of course, being Local Garden and the VertiCrop system? If this is the case, what a heck of an opportunity for a third party to pick up these for peanuts and carry the concept forward unencumbered by any debt load or pending court actions! (The potential Chinese interest reported by the Company could be rubbing their hands at this opportunity). I trust also that the Company will provide greater details (or preferably an independent engineer's reeport) on the extent of the VertiCrop system breakdown. The cost of repairs must surely be a factor if it has been the eventual cause of the assignment for bankruptcy, and surely us shareholders have a right to know this, as we are the ones now being hung out to dry? Although the debt load the current management team inherited has also undoubtedly been a factor, there have also been some pretty dumb decisions made along the way e.g. the decision to dump the UK operation with their team's backgound and experience with the system and hydroponics. Can't see that the engineering errors subsequently made with the VertiCrop system would have occured if their technical boys had still been on board.

[ravena]

So am I am right in believing that the likely outcome now is an evetual sale of the assets of the Company through the official receiver - the assets of course, being Local Garden and the VertiCrop system? If this is the case, what a heck of an opportunity for a third party to pick up these for peanuts and carry the concept forward unencumbered by any debt load or pending court actions! (The potential Chinese interest reported by the Company could be rubbing their hands at this opportunity). I trust also that the Company will provide greater details (or preferably an independent engineer's reeport) on the extent of the VertiCrop system breakdown. The cost of repairs must surely be a factor if it has been the eventual cause of the assignment for bankruptcy, and surely us shareholders have a right to know this, as we are the ones now being hung out to dry? Although the debt load the current management team inherited has also undoubtedly been a factor, there have also been some pretty dumb decisions made along the way e.g. the decision to dump the UK operation with their team's backgound and experience with the system and hydroponics. Can't see that the engineering errors subsequently made with the VertiCrop system would have occured if their technical boys had still been on board.

[Barunuuk]

Actually USG. This forum is for discussing Alterrus, not for attacking people, or make wild accusations, or to argue over and over again. You disagreed with my points, there is nothing more to say to me. And to be clear, it was actually website personnel that deleted your posts as they were personal attacks, and did not provide any insight, value or information about Alterrus, but rather what you dislike about me. To be honest, its time to let the dead horse lie. Please, for the sake of everyone, find a new hobby or a new stock to follow.

Thanks

Baruunuk

[Barunuuk]

As positive as I am, I think it would be very difficult for them to get out of this one, without a new stock offering after all the bankruptcy dealings. Of course it isnt for surely over, but it isn't looking good right now.

[upshegrows]

careful terry,

disagree with the moderator and your posts will just disappear.

kind of telling,huh?

[terry hallinan]

For The Record, Barunuuk, it's over when it's over.

It's not over.

Is there any chance of a recovery?

Very little but I once had a stock that was dead, dead, dead, zero, zilch and later became a huge winner on the AMEX and then the NYSE over a couple of decades.

It's a very long story and this is not a place that gladly suffers war stories.

Best, Terry