Deltron Inc (DTRO)

[TJG]

I would say you are correct with both issues...

[latrod]

I'm sure money is an issue with the State of Nevada fees, I believe another issue that ties in with a chill, is a list of BOD to report, more than 2, and the current SS also. If I am wrong, please correct me if I am.

[TJG]

Here try this...maybe you can get a hold of why he is in default if you try and put it in terms that relate to anyone on the planet.

Your a person or company that is strapped for cash...that much is a given if you READ the 10Q... and you have a bill, its a $5000.00 plus bill you owe...but the people you owe it to tell you...look nothing will happen to you for not paying it and you have a full year to do so...

Now suppose thats you are you going to pay all your other bills and wait to pay that one or are you going to run right out there, take Five Grand and pay the one you dont have to.

You see nothing happens to him or his company by not paying that filing fee... how can that be so hard for some to understand...

[bigfoot422]

Only time will tell if Larrucea did anything illegal or not. For now as far as I'm concerned all those pr's Larrucea released are no more than fluff pr's cuz NOT one of them came to be reality.

Also it makes me wonder why Larrucea is in DEFAULT on paying the annual filing fees.

jmpo

[ofspring]

SEC Orders DTC to Adopt Fairness Procedures on Suspensions


By David Feldman at 19 March, 2012, 9:26 am

Last Thursday, the SEC ruled In the Matter of the Application of International Power Group, Ltd. for review of action taken by Depository Trust Company or DTC. When the SEC started a case alleging, among other things, sales of unregistered securities by IPG (but neither IPG nor its officers or directors were named), the DTC suspended its electronic trading capability. Two years later the SEC has now ruled.

Essentially, the SEC ruled that IPG is a “person” entitled to a fair and orderly procedure, including a hearing and the opportunity to appeal the matter to the SEC, with respect to the suspension. DTC tried to argue that IPG, since it is not a broker-dealer “participant,” was not a “person.” They also ruled that DTC “did not provide IPG with adequate fair procedure in connection with the suspension.”

More importantly, the Commission also directed DTC to “adopt procedures that accord with the fairness requirements of [the Securities Exchange Act] , which may be applied uniformly in any future such issuer cases.”

This ruling is good news for issuers facing a so-called DTC “chill.” It is now clear they have standing to insist on a proper and fair hearing, and the chance to appeal to the SEC if they are not satisfied.

Categories : SEC

[TJG]

I agree Zack... I still have a lot of faith in the company's business... but I have no faith in the CEO and have not as I have said before... but I only have no faith in him as a leard for a public company... he is a good business man and has built this company.

[Zack 717]

Haven't said much lately but still around. IMO I think the chill caught them off guard and they are trying to regroup. Still belive in the company and I think alot of people here forget that Elasco was making money. And really who do you think will mold the casings for the BOV? It will be a win win. Everyone just keep the faith.

[TJG]

My only comment would be is there is nothing to actually follow up with...but its customary for a CEO to give a shareholder update...in which he would tell us that they have continued to either move forward at a slower then anticipated pace with the F500 project and that there are deals in the works for Blu Vu, but not yet finalized.

This CEO now chooses to not do that and instead it appears he will wait until he has actual news to report. A follow up on the DTCC chill would also seem warranted, but its not legally required. All of the current info we have has been brought to us by board members who have contacted Titan in regards to the BOV from Blu Vu. We also have some who have followed up on the Chill from he DTCC...but the company has not. Again at best our CEO is lacking in fulfilling his fiduciary duties, but IMO he has done nothing criminal

[PoorBoy2]

The lack of providing appropriate follow up information can be a deliberate act of deception and cause for legal action. It is not quite the same, but the First Solar fiasco and lawsuit seem similar in some respects to me.
IMO

[TJG]

Problem you have is the word deliberately... I dont think he has...if you look at the PR's that were released they all follow the rules of disclosure...they state what is forward looking and what is not... they talk of future endeavors and the filings tell of the need for equity financing...

Where he has failed is in his follow up since the last PR and with his follow up to the PR that stated they were ramping up manufacturing for the F500 project. He has not explained the RS publicly...they did put a full explanation on their web page for 30 days...He has simply gone dark for what ever reason and has failed to keep shareholders updated. But he certainly has not by legal definition broken any SEC rules or the law as far as I can see.

[PoorBoy2]

If, as some of these discussions lead me to believe, the CEO has deliberately misled shareholders with the PRs almost 2 years ago and then participated in driving the share price down approximately 99%, then legal action is a legitimate option. Do we need to have a DTRO bagholders class action lawsuit?

[EMPATHY]

"he did exactly what he was directed to do"


Fact?

[bigfoot422]

Is this a NAMELESS pr firm like the NAMELESS F500 company who DTRO was contracted with more than 20 months ago ?

If there is a pr firm one would think it would advise Larrucea to at least explain the simpless of things such as : why was DTRO placed on the " chill list " or why hasn't Larrucea paid the annual filing fees ? What about the status of the rebreather or the status of the retro fit on machinery to handle MASS PRODUCTION for the NAMELESS F500 company ?

Obvious this nameless firm isn't for shareholders or to protect the pps.

Still would like to know the firm's name and when was it hired by Larrucea ?

Was it before or during Crimi's contract ? It wasn't after Crimi's contract. If before or even during Crimi's contract it leaves alot to be desired by the firm who they represent. After all they are a top notched and particular you they work for as per Latrod per Crimi once again.

anyone please

jmpo

[bigfoot422]

Crimi serve his purpose for Larrucea and he did exactly what he was directed to do.Feed shareholders with garbage till he was detected.

My question is this, once again, when was this so call PR firm hired and what's the name ?

Don't blame the CEO if he accomplished what he set out to do. Right now it appears Larrucea is the winner and will remain the winner till he releases a JUICCCCCCCCCCCCCCY pr if there is one to be released.

jmpo

[latrod]

I agree completely, he was trying to get them to inform us but his advice fell on deaf ears of the CEO. I dont think they will replace him, whats the use in doing so! Supposidly they have a PR firm working for them? If so who knows when they will let them do their job, maybe when they get their issues straightened out? Until then as you have stated, we wait!

[TJG]

Oh you know I was not blaming you.... James did the best he could with what he had to work with IMO... there is an old saying...

Garbage in Garbage out... thats what he was given by the company... I know for a fact that he tried to get them to do somethings and they refused... he may have been let go at the end of Feb...but he was actually done long before then as they ignored all of his suggestions.

Thats why I said months ago...we needed a new CEO as this one is out of touch on how to run a public company. He has no clue on how to handle the responsibilities of keeping shareholders informed.

[latrod]

No blame here, they kept him in the dark the same as us, when they were to start PRs, it didn't happen and been quiet ever since! JMO, JMPO

[TJG]

Me thinks some here need to look up the job description for the IR that a company uses.

They are a denominator of information...they are not a provider of information.... does not matter who the IR is for DTRO...only thing that matters is what the IR firm is given to put out. At this point in time Deltron has NOT given anything to any one to release.

So tell me how do you all blame the IR for this current lack of information state we are in...

[EarnestDD]

Crimi being turfed is the only good news from DTRO in the last year.
jmo

[bigfoot422]

Not to my knowledge but if they are, I would like to know when they were hired ? cuz they r doing a great job so, lol.

jmpo

[latrod]

Boost Marketing was supposed to do the PR campaign?

[bigfoot422]

Do you know the name of the firm for Deltron ?

[latrod]

Beside what W2R posted I looked up an old post from IR, post # 10726
Dec. 2, 2011


Talked to IR James on the phone and asked about the Boost Marketing firm, he told me Deltrons IR firm that is doing their PR Campain is one of the best out there, very reputable and particular who they work with because of their reputation! I also asked about the 3.1M debt for Technology Deal, he told me that NO SHARES have been issued for Debt Conversion on the 3.1M debt!

[want2retire]

His email to me indicated he was not aware if his position was being filled or not.

I have sent an email directly to the company to see if they will comment and will let everyone know what I hear.

W2R

[Pipa]

Do you know if he has been replaced with someone else?

[latrod]

James Crimi has been released from Deltron. It was effective at the end of Feb., which was the end of his contract.

[Zack 717]

Later!

[latrod]

All we can do is wait, I'm going to call TDG next week and see whats up! catcha later my freind!

[Zack 717]

Just got back from va ca looks like not much has changed. LOL

[bigfoot422]

There's no news anytime soon, ( and maybe not at all )if there was there would be alot of insider buying at these discounted prices.

I'm growing more and more leary of DTRO but more so with Larrucea.He has released pr's that now look as if they were P/D releases.Also released info thru his PR rep things to be untrue.

Who knows with lack of ANY communications from Larrucea maybe he has or had his own game plan and shareholders weren't included.



jmpo

[TJG]

There are several convertibles that contribute to the derivative expense, not just the $3.15 mill. A couple of years ago I got a full understanding of how it all works.

Here is a post from a person here at IHUB who is very informed on how it all works. Look this up and there are a few posts that explain it in detail. The expense is a number that changes with the stocks price. Thats because the higher the PPS goes up from the price set at the sale of the CD the more money the lender makes when they convert. Is an expense that must be paid, but its also a PAPER expense..by that I mean its not actual money they have had to pay out...its what they would have to pay out if they were to settle the entire debt at once, based on what the PPS is the day they pay it off.

In this explanation just substitute DTRO for CoroWare...in a nut shell, they need to simply do as I said, get Blu Vu to begin to generate revenue so they can assist in paying down the CD burden they have created.

eztradin
Share
Wednesday, July 28, 2010 3:37:08 PM
Re: aries4747 post# 5433
Post # of 5463
The derivative expense is associated with CoroWare's convertible debentures. The derivative liability increases with the increase in CoroWare's stock price, because the underlying embedded conversion feature is indexed to CoroWare's stock. As the derivative liability increases, the derivative expense increases. The interest expense is primarily associated with the amortization of the discount also associated with our convertible debentures.

[bigfoot422]

TJG, the net loss of 7,894,159 ( 9 months ) does that mean only the interest of the note of 3.15 million is included and not the actual note ?

Also it's 6 months since then which means there's an expense of 157,500 dollars just on that note alone, correct ?


thank you in advance for your expertise.

jmpo

[TJG]

Yes I think it will, unless they have done something to curb the derivative expenses. Derivative expense for Deltron are due to the convertible notes they have out there.

Unless restructured or paid down or off thru the conversion process those expenses will continue to increase. If you look further into the Q you will see where mandatory payments are due and since we have not seen any filings to say they are in default of those payments we can assume they are being paid.

But they continue to try and be a one pony show, with Elasco footing the bill for everything... Elasco alone is a profitable company...they need to get Blu Vu up and running if they are to have a chance. Thats why the Titian info is so vital to the success of the stock. Once investors see that Blu Vu has finally generated revenue they will begin to buy. IMO

[bigfoot422]

WOW, awful alot of expenses going out and not enough revenue coming in to cover.

Now I see why Larrucea choose not to pay the annual filing fees.

Do you believe the DEBT will be much higher in next financials ?

jmpo

[TJG]

For those interested in knowing the exact manner in which Deltron aquired a debt total of $7+ million dollars the year end Q read the passage from page 19 of that document.

Its laid all out there and perhaps this can help some, I know it wont help everyone.

Other expense

For the year ended September 30, 2011 we incurred other expenses of $7,678,178 which
consisted of: interest expense of $255,467, non-cash derivative expense of $7,159,130 and an impairment
charge to intangible assets of $266,250. For the nine months ended September 30, 2010, we incurred
other expenses of $169,458, which consisted primarily of $96,167 amortization of note discount related to
the beneficial conversion feature embedded in the $175,500 convertible notes, and total interest of
$53,397 paid and accrued on the $125,000 line of credit, $1,095,110 long term promissory notes, and
$175,500 convertible notes due to certain shareholders and officer.

Net Loss

The increase in net loss of $7,894,159 for the year ended September 30, 2011, compared to the
nine months ended September 30, 2010, was a net result of: an increase in our professional fees, an
increase in gross profit due to efficiencies relating to increased sales, an increase in interest expense due
to the addition of the $3,150,000 note recorded in 2011 and an increase of derivative expense of
$7,159,130 and an impairment charge on the intangible asset of $266,250 in 2011.

[bigfoot422]

Not DEBT but the note has a 10 % fixed annual interest rate which has a maturity date of 3 years before note holder can cash in.

One year has passed.

correct if I'm wrong with this info on the note.

jmpo

[bigfoot422]

Larrucea nor Crimi done absolutely NOTHING to reassure shareholders that DTRO is headed on the right path of success.

In contrast the debt has doubled and Crimi mis-spoken on several occassions, mis-leading shareholders.

I know there are projects that Larrucea can't discuss right now ( if true there are any )but there are issues he most difinitely can explain, such as the " chill order ". why the annual filing fees are in DEFAULT,true reason for r/s or anything just to reassure shareholders.

Since the R/S ( to clean up share price ) as per Larrucea via Crimi. The pps dropped by more than 80 % and NOTHING released to protect it from dropping even more.

jmpo

[bigfoot422]

The DEBT of 3.15 million dollars has a fixed annual interest rate of 10 % another words 315,000 dollars yearly. ( correct me if I'm wrong )

I believe one year has matured.

This kind of debt is very difficult to overcome for any company nevermind a penny stock company especially in today's economy.

It'll take one heck of a JUICCCCCCCCCCCCCCCCCCCY pr to attract anyone with new monies to buy into DTRO.

jmpo

[EMPATHY]

Could you repeat that?

First I've heard of those issues,lol.

[bigfoot422]

I totally agree with you understand your frustrations.

[TJG]

Based on what Titan has told Latrod it would not be in the best interest of DTRO to put out a PR yet.

If you actually read what latrod has posted, all Titan has disclosed is that they are testing the unit and when the testing is completed they will then make a decision on purchasing the unit.

DTRO needs to PR the actual purchase order being filled... if they PR the fact that Titan is testing and may or may not buy, all that does is set them up for the "fluff" PR posts.

Lets use the over seas testing and the fact that they PR'd a F500 company but have not been able to follow up on them as of yet... they would have been better off keeping both of those pieces of info under their hat, until they could PR there actual contracts.

Some here want it both ways... PR about forward events..then complain when they dont happen fast enough for them... DTRO is doing it the right way... there has been no increase in the OS over the past 6 week so we know they are not diluting... its just a tiresome waiting game that we are all playing... only fun we have had was the Pump that took place...since then we have reverted back to piddle on share volume and silence from the company.

[latrod]

You are correct, I'm frustrated with the facts as much as you are and the fact that we are not given any info from the CEO. Sometimes the only info we can get is third hand, TDG the main and best third hand info we can get is what lets us know that they are going forward with the BOV. No matter how many shares one has we are all still in the same boat, and in the dark! You and I, and everyone else have our own opinions, and entitled to such. It's time for DTRO to get off their ask and address issues to get us current, and inform investors as to what their game plan is, and what is going on with other projects!

JMO

[bigfoot422]

Latrod, I know you have ALOT of shares as per your own addmission. I also know you are upset with what I consider to be the FACTS.

As far as contacting Tian Dive Gear,if I felt any truth in what Titan has disclosed to you I would believe that CEO Larrucea would have released a pr of such along with other vital info.

I don't base my opinions on third hand info.

be careful,some of your posts are not within TOS rules,please re-read what mod TJG has posted in a sticky.


JMPO

[latrod]

Bigfoot, have you talked to your freind James Crimi, or is he not there anymore?
JMPHO

[latrod]

Bigfoot, have you contacted Titan Dive Gear?
JMPO

[latrod]

Bigfoot, have you contacted IR at all, the new IR?
JMPO

[latrod]

Bigfoot, have you spoke with the CEO, the new CEO?
JMHO

[latrod]

Bigfoot, have you found any new info? Besides what we already know. DTRO is not current, in debt 7 Mil, 22 Mo. on supposed contract, CEO bites, on chill list, and unanounced R/S. Aything new besides that? TIA JMPO

[EMPATHY]

It's gonna be a hoot when this takes off!

ALL MY OPINION!

[ofspring]

You keep saying rs are bad but another example of a stock that did a rs because they had to get true value up pcbc. Made money onthat one .. if dtro is cleaniing up I have confidence that dtro will come out smelling like a rose who care if unanouced as long as they get this business going that's all that matters and it takes time..pcbc about 2 years ... dtro clean it up....