Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
How's those Escrow Billions look in your account there?...oh crap!
Have fun waiting forever dumbass. LOL
Sherman gets 5 year officer/director bar.
Shermans case is still ongoing even if the stock is delisted.
http://www.sec.gov/litigation/admin/2014/34-72723.pdf
President Moshe Schneider commented that “Orange is looking forward to entering the Florida market where I started my first business in the commercial refrigeration retrofit and maintenance business 14 years ago. I spent most of my career through 2011 in Florida. Initially Orange will establish a regional office in Palm Beach County.” Moshe added that “due to certain non-compete restrictions related to the sale of the prior business in 2011, Orange had not been able to operate in Florida until 2015.”
CEO Avner Harel stated that “while Orange will serve all sized clients in Florida, we look to establish relationships with companies having regional multi-location operations where we can be their full service retrofit and maintenance provider.” Avner added that “as with all our operations in the United States and Canada, we will help our clients obtain rebates and incentives under applicable energy efficiency programs.”
Orange provides its products nationally, through their website “
With Orange Energizing Solutions moving back into Florida I don't think this company is going to last too much longer even privately
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=110199799
If Sherman is going to get sued they had better do it quick because I seriously think BK is around the corner ......except this time it will be Ch 7.
So these guys are still operating the business, but we get stuck with a big empty bag?
Who's going to fire up the lawsuit?
sure seems like the markets are up, whats Sherman's excuse now, economy is too good?
trader1998 Tuesday, 12/06/11 12:36:05 PM
Re: GoGo-KittyGrrl post# 70010
Post # of 74537
so are you stating sherman simply had bad luck and poor timing, twice?
Every insider holding restricted shares took a total loss.
They never could get the restrictions lifted without being current.
Even the lawyer for BK must have never got a dime if he took payment in shares since they never were current since then.
I would expect multiple lawsuits hitting Sherman from some of these restricted share holders.
Does anyone here care to admit just how many shares they possessed when this stock was cancelled ?
40 employees..... lol.
We are stil alive!?my englisch is Not Good ! Soory
Is it time to look back ?
Try emailing their sales team from the link on their website. You'll get a response as if business is continuing as "normal". Hopefully Sherman doesn't F the employees too; seems like they probably don't know that their paychecks are going to bounce..
Funeral for QSGI..
BBLV you say they are still operating?...There will OBVIOUSLY BE a lawsuit at some point with longs losing everything yet operations continuing if that even is the case. I question the operation continuing at the moment. I counted my losses long ago....too bad and sad...
Stock is dead, done, zip, but they're still doing business. What does that mean for us, the shareholders (aka bagholders)?
I sent an email inquiring about IT equipment buybacks and they responded promptly and professionally asking me to submit a list of equipment for a purchase bid...
The news only gets worse for Sherman.....
The two partners he tried to screw over are doing unbelievably well in the gasket business and are now moving back into QSGI's home territory.
He's screwed.
http://www.prweb.com/releases/2015/01/prweb12442832.htm
The former CFO Cummings settled with the SEC for a 230k fine and a 5 year officer/director ban for a public company..
Sherman is fighting the same charges but he will most likely lose and get at least the same penalties.
The SEC is trying to keep him from doing this again.
i wonder if there is anyway sherman ever gets a chance to pull this again, i thought it was 3 strikes and you are out (intellesale, qsgi #1 and qsgi #2)
When a dog says he is buying or holding you can bet the farm he has already exited and is selling into the pump....or trying to protect his rep for the next pump.
Reminds me of PIHN...man there are a lot of pink scams out there that the people behind them never get prosecuted.
How the f*#& they can sleep at night is beyond me.
Anyone need a shell company ticker for cheap? Maybe we can get another "cinderella story" going! Looked good when I got in but instead of selling I became bagholder holding a bag of you know what: ( Doh!
Looks like that 'regular flow' is going to be share certificates into the toilet.
He's a bullshit artist who has screwed everyone over who ever did business with him.
And I am still convinced he was in cahoots with hotdoggy to pump the BK deal to get the PPS up so creditors would accept the plan.
The funny thing (not really funny now) is that I have recent emails back and forth with Sherman and he keeps saying news is coming, news is coming. It sure came. And it bent us over and F'd us all.
Amazing....everyone is stuck with their shares even when it is on the Grey Market.....just like I said would happen.
Any other stock where news came out the shares are going to get deregistered would cause a flood of selling to get out with any kind of salvage.
But here.....nothing because it is near impossible to trade on the GM.
Sherman totally screwed everyone.
Market Cap of $2300.
Probably overvalued.
There is NO bright side:
"QSGI’s violations are thus serious.As it now acknowledges, its financial situation from 2011 to 2014...was so precarious that it could not afford to comply with its reporting requirements. Id. at 3-5. This fact makes QSGI’s violations all the more serious"
It's totally over. The SEC has determined QSGI will no longer trade.
I think the question is now who sues Sherman first .
Doling out restricted shares for lawyers, management who are no longer employed, acquisitions, and past settlement decisions is not going to go over well when it is determined it was his actions that now will cause those shares to be totally worthless before the restrictions could be lifted and the stock sold.
This company will file for Chapter 22 before it is all over.
Exactly, Jaxstraw....the ALJ didn't buy the excuses. It was a thorough ruling.
QSGI SEC Admin Law Judge Initial Decision to revoke registration.
Very interesting comments....read!
http://www.sec.gov/alj/aljdec/2014/id726jeg.pdf
If they are delisted by having their registration revoked there is no 'relisting'
All shares are cancelled and cease to exist.
There is no brighter side....it is past the point of just fulfilling the SEC requirements Sherman thumbed his nose at that for years. Multiple warnings were then sent to do so were and ignored. They are now in an Administrative action phase for that also.
They can no longer just undo this by catching up on filings. There are penalties (revocation) being sought for letting the stock trade on inadequate information after being warned.
On the brighter side once they fulfil SEC requirements after the case they can be back , that's my optimistic view , in next few months they may be de-listed & re-listed based on company actions.If the company is existing with 30-40 employees and the business is doing well it might happen, its my hope , I will wait and do not seek any advise on that one.
That is not actually a choice any shareholder now gets to make since it is near impossible to sell whatever worthless holdings they are stuck with.
Sherman really screwed the pooch.
All he had to do was file one simple paper and be able to stop reporting.
Instead he let it get so bad this stock is going to be either grey market for ever or lose its registration.
Either way waiting with worthless shares and eventually getting stuck with worthless shares is a 'plan' that every shareholder is now in.
It's over and all shareholders will take a total loss here....mark my post.
30-40 Employee company has to rebound after fulfilling regulations, mark this post , may be it will take time ..jmho.
Any judgement dates? will it be in Jan'15?
Sherman motion denied.
He did not even file a response to the OIP's opposition.
No money for lawyer or was the OIP's opposition such a convincing argument Sherman's lawyer realized his motion was a joke ?
http://www.sec.gov/alj/aljorders/2014/ap-2106.pdf
A revoked registration by the SEC means a stock ceases to trade.
Only one company out of 2076 has made it back to normal trading once a temporary suspension was handed down for failure to file.
About 60% of 2075 left were revoked and the other 39.99% are languishing on the Grey Market where trading is nearly impossible and usually for subpenny if any trades happen to go off.
What you have seen of the trading going on since QSGI has been on the Grey Market is exactly what all trading will be in the future if that is the fate.
Practically non-existent since orders from buyers and sellers can not be matched.
The GM is a dead zone for stocks and is basically considered a total loss.
Revoked will mean total loss - why ?
Followers
|
306
|
Posters
|
|
Posts (Today)
|
0
|
Posts (Total)
|
74547
|
Created
|
10/21/08
|
Type
|
Free
|
Moderators |
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |