Technipower Systems, Inc.(fka TECZ)

[Renee]

TECZ revoked:

http://www.sec.gov/litigation/admin/2014/34-72552.pdf

[Renee]

TECZ Sec Suspension:

http://www.sec.gov/litigation/suspensions/2014/34-72109.pdf

Order:

http://www.sec.gov/litigation/suspensions/2014/34-72109-o.pdf

Admin Proceeding:

http://www.sec.gov/litigation/admin/2014/34-72110.pdf

[A Dinosaur]

Their website, under construction since October, 2013, is http://www.solomontechnologies.com/

Confusing, isn't it?

Dino

[badbilly11]

hi....don't know about the suit....it looks to me that the old soloman has now ended up unipower...http://www.unipowerco.com/.....that would have to go public for us old soloman investors to have even a glimmer of hope.......GL....bb11......

[Derf11]

Does this company still have Toyota litigations in process? If not, is anything going on? Is there a number one could call for information? Thanks.

[rosesarefree]

.0062 x .017 - one market maker till .38

[A Dinosaur]

Just 400%. Nuttin special.

Dino

[chonrm]

Wow movement!!

[badbilly11]

well howdy chonrm........nice to hear from another old solm'er.....what a bust all this has been......i remember years ago i called Peter DeVecchis, he told me to "hold" great things were coming.....what a crook !......i came across this company the other day "inkanos technologies inc.".....don.t know what to think of it ? "http://www.ikanostech.com".....bb.......

[chonrm]

Nothing new at all?

[Damsupra]

Somebody just made a 3,990.9% gain ....lucky dog u

[grants_aor]

ok i have had this one from the last R/S i am long on it. It's a shell and i love the out standing share's 2.1/b very lo. that what i look for in a shell some thing is up.and yes i never saw a Q to
i am buying all i can if we eat up all them out standing share's this will move fast. no one keep's a shell for fun it's all biz you guy's don't get it.you all must be new to trading. look at chart's and i don't care what you all think it's my money.

[badbilly11]

hi all......i also am stuck with a pile of this junk.....why is this stock trading at all.....the court took ALL value out of it...right?????

[shorty2003]

Man OH man I wish I could get rid of these shares for at least 1/100th of what I put into it.... Maybe someday...... Wishful thinking I guess.

[kubotapete]

Joyce,
I have no thoughts other than why and how is TECZ still remaining, are the MM's just churning sales to one another to keep it alive? As I assume you have noticed every so often there is a large-ish number of shares traded,(small dollars)? I did call one of the last (corporate) people involved in the day to day operations and got the impression that there was nothing left but the intellectual property and nobody and no money to pursue further development. Anyone else out there with any information?
Pete

[joyceschoice]

TECZ is a subsidiary of Unipower. The bankruptcy never made much sense to me. I never saw a "q" added to TECZ. Anyone else have any thoughts?

http://investing.businessweek.com/research/stocks/snapshot/snapshot.asp?ticker=TECZ:US

http://technipowersystems.com/

[kubotapete]

I understand, I am in the huge loss club also, any idea why the stock is still alive at all?

[oniro3363]

It was a joke....TECZ went up 100% (yesterday) ,so I doubled my money,lol!!!

Sadly, I've been holding TECZ/SOLM for a long time, and my losses are HUGE....it would take a miracle for me to recover what I've put in.

[kubotapete]

Hi Oniro,
How can I do the same?
Pete

[oniro3363]

Doubled my money today,yippppeeee!

[badbilly11]

Hi...Kitty, Pete, Hare......thanks for the break in the lonelyness...................hope has value..thanks......bill....

[kittystwigster]

Hello Pete,

Lots to say actually..

1. The debenture investors and insiders now also have Common stock, they hold 99% of it. So ..I guess you can say that's good for the remaining 1% of us (lol)

2. The problem is that TECZ has (exclusively ?, we still don't know for sure) licensed the technology to that other company. The Common stock holders will share in anything that company does which generates royalties to the Patent holder (TECZ); based upon the terms of our Licensing agreement with that licensee company.

3. The organizational structure of TECZ now is very important. my guess is that if/as revenues roll in, the company will issue dividends to the shareholders; this will of course benefit those insiders and old non Common stock investors extrodinarily. Then, if we win any Infringments suits or grant other (non exclusive ?) licenses, those monies too will likely be distributed to the Common Shareholders ..UNTIL, any big excitement happens, the pump occurs, and others now want to buy the stock.. Once they try the stock will move quickly because there is only 2M outstanding, and the insiders who own 99% of the Common, will no longer be interested in Dividends and will switch to looking for capital gains of geometric proportions by selling their shares. Without many shares in retail's hands (1%), they will have no competition at the sales window.

Kitty

[kubotapete]

Hi Kitty,
Thanks for re-appearing on the scene, as I am sure you are aware I fall in the realm of the truly unsophisticated investor, being an engineer does no make one a financial guru by a long stretch, However my perception is that the MM's may well be buying and selling from each other just to keep this can kicking on down the road, to what end I don't have a clue. Do you in your I believe, sophisticated position of knowledge feel as if you could comment on that theorem? I fully realize the fragile nature of the ethics surrounding investments such as this and have approached it from an insider position of the technology and a "wild eyed" engineers vision of what could have been. Being the proud owner of a "trophy patent for an articulating work holding fixture for industry which just didn't get presented as skillfully as would have been profitable for me I think I fully understand the down side to the Solomon adventure, I also was involved early on with folks who in politically correct lingo weren't nearly as company well being committed as personally motivated.
Now having thoroughly kicked that can are we just seeing more can kicking or is there something out there I missed.
I appreciate your candor and knowledge an if public reply is suspect, my personal e mail is "[e-mail]" (540 477 30470 looking forward to your input.
Kindest Regards,
Pete Johnson

[kittystwigster]

This is where the Common Shareholders were given the shaft.., it was easy for them to lose on whatever Common Shares they held because they more than made it up in their relatively minor Secured and Creditor positions. Good plan guys. I'd like to see the sweetheart licensing deal Soloman (TECZ) gave to this new company; and I'd also like to know the names of the principals of the private company. Anyone want to bet some of the names are VERY familiar ?

Pursuant to the terms of the Plan, if approved, the holders of the Company's common stock on the record date will receive approximately 1% of the common stock of the reorganized Company. Under the Plan, if approved, the senior secured creditors of the Company will receive 62? of the common stock of the reorganized Company, the subordinated secured creditors of the Company will receive 12? of the common stock of the reorganized Company, the unsecured creditors of the Company will receive 20% of the common stock of the reorganized Company, and the holders of the preferred stock of the Company will receive 4% of the common stock of the reorganized Company. The record date for the issuance of all shares of common stock of the reorganized Company is October 26, 2010.

Pursuant to the Plan, all of the technology and assets of the Company other than those described below will be transferred to a newly formed private entity in which the common stockholders of the Company will not have an interest. The principal assets to be retained by the reorganized Company are (i) U.S. Patent No. 5,067,932, issued on November 26, 1991, entitled "Dual-Input Infinite-Speed Integral Motor and Transmission Device", which is the basis for the Company's Electric Wheel? technology, (ii) claims for infringement of this patent against Toyota Motor Corporation, and (iii) malpractice and related claims by the Company against its former legal counsel with respect to litigation of the patent infringement case.

Just for fun ... A $2 Billion technology value on the "Wheel" alone would only translate to the value of the common stock being worth $20 Million. Divide $20 Million by the 2 Million shares outstanding, and the common share value would be $10 each. Maybe it's not so bad ROI from this point if that ever happened, but make no mistake, there was a HUGE Transfer of IP Asset wealth that occurred from retail Common holders to the insiders and Senior investors.

Now we just have to hope that that singular Patent listed is the Trunk or Main patent we held for the Wheel; or were there other important Wheel patents too that we didn't keep ?

[kubotapete]

Hello Harehound,
Yes that is where it has gone, beyond that I have no idea where Ikanos is going looking forward. My understanding is that Ikanos holds the intellectual property, however at this late date I wonder at there being any practical application for said property. The world has been busily making all manner of electric / hybrid vehicles and drives, many I think are essentially further evolutions of "the wheel". Also there is the faction of the world who buy the Prius and others because they are "green" then there are the real thinkers that are still buying Ford Escorts because they offer the same economy at tremendously lower initial cost. Then there is the GM "Volt" that seems to be a bomb. In any event I (think) I own shares of Ikanos but they are worth so little they don't warrant being sold. I see the MM's are still trading shares every so often, either they are playing with us or someone is occasionally buying or selling?
Pete

[harehound]

Ikanos Technologies Inc seem to be Solomon rejuvenated
Have a look at http://www.ikanostech.com/index.php/home if you want to see where your money has gone!

[kittystwigster]

Hello Pete,
Well, stocks are gambling; to be sure.

In vegas, you know you're playing against the odds, but not that the game's outcome is actively being rigged in advance against you.

Can't say as much for SOME penny stocks

Good luck,
Kitty

[kubotapete]

Hi Kitty,
Haven't heard from you for ages! I would have to agree that the big guys that held notes etc. and demanded payment are not our friends and worse, I really don't think the CEO is any better off than we are in all of this. For what it is worth, of course I am sorry in hindsight that I didn't sell when we had the reverse split, then to now is a big loss but then I was hoping for the best.
Pete

[kittystwigster]

"...what a $hit he turned out to be !!!!.."

Yeah .. very very greasy guy

So, the company loses the initial court decision, however, there are still avenues to recover for infringment, then files for BK to shed itself of all retail Shareholders while at the same time the big investor's intentionally structured holdings of IOUs, debt and debentures gets "Creditor" status in the BK proceedings and they become the New patent owners because Patents are the only company asset. Now, the streamlined company continues on to fight the Auto company infringers (and others) as a "reorganized" private new entity.

Sleasy, intentional, minipulative and probably bordering on illegal if all the backroom and inside strategy/deals were to be known and detailed in open court.. afterall, this WAS a public company and the leaders did have a fiduciary duty to ALL shareholders.

I'd love to see that old CEO go to Prison if he deserved it; but he and they know the SEC doesn't care about the everyday rape that happens to retail holders of Penny stocks.



kitty

[badbilly11]

hey ! theres actualy somebody besides me still watching tecz ???? really funny how this stock went to worthless.....i bought in 3 yrs ago.....now its bearly worth the trading fees........isn't there still something with the 1% in the final court dissision???? i've tried calling the company but our old ceo doesn't return my calls.......the same guy that told me 18mos ago to hold my shares and i would be happy in the end and that he was holding millions of shares and was not selling.....what a $hit he turned out to be !!!! anyway i wish all tecz'ers well......bb.....

[kubotapete]

If anyone is still out there is Technipower officially dead?

[kubotapete]

Senator,
Sounds as though you might have talked to someone recently, how about a heads up on who etc.?
Pete

[senator]

senator is still adding a few shares here and there. we are slowly moving toward some electric vehicles and still think the tech is a match for a company who doesn't want a pure plug in.
http://technipowersystems.com/

[kubotapete]

Hello Senator, and all of you brave souls still out there, I notice that there has been some sporadic movement of stock which makes me believe that something is happening to generate a little excitement from time to time. Sorry I have nothing to report either good or bad, but we seem to be still afloat despite the BK as an optimist I choose to believe there still is a chance, albeit probably a rather small one after all this time.
How about some feedback from you folks just to let us know how many live ones we still have.
Kindest Regards,
Pete Johnson

[kubotapete]

In response to TXS and for all of the remaining group:

Yes, TXS, in a very literal sense your assessment is absolutely correct. However to elaborate on the arrangement to date; the power supply portion of our conglomerate was split off and given to the creditors demanding payment to satisfy the debt, and the remaining portion which is essentially Solomon Tech and it's patents and possible Toyota litigation was left to us common stockholders. The plus side is that we are now not hampered by the huge debt, the down side is that we have to wait and hope that our new company is successful in moving forward. My advice is to either "hunker down" and hope for good times down the road, or get out and move on to something which seems more rewarding. My position is to hang in there but certainly is not advice to any of you, as I have no credibility as a financial adviser. For the foreseeable future I will attempt to keep you informed as to progress, etc. and look forward to any and all feedback from each of you.

Kindest Regards and Best wishes for the Holiday season,
Pete

[txs]

So basically the portion of the comapny with any value and actual revenue is the part we no longer have an ownership of. The part with all the uncertainty, no revenue and no hope for revenue in the next few years at least is the part we get. That's terrific, how convenient.

[kubotapete]

Duke of Earl, I will report as soon as I know, whatever it might be we either wait it out or dump and run as we think appropriate, I am waiting for what that is worth.
Pete

[TheDukeOfEarl]

Any idea what the new conversion ratio will be? 1000 to 1? 10000 to 1? It will not be in the share holders favor. This is how they clean house of us

[oniro3363]

Thank you...

[kubotapete]

For all of us remaining in the group.
I have contacted the the company for an update as to where we are and have this to report:

The BK changes are finalized and official and are a matter of record. My understanding is that the power supply portion of the company is now one company which we do not hold any ownership of and the portion of the company holding the Trans-axle technology, the Solar technology and the Toyota litigation rights is now a separate holding company which we own shares of. The particulars are not clear just yet but I will certainly advise of any information when available.
I am ever hopeful that there is something for us somewhere down the road and will stay for the long haul but have no short term hopes.
Regards
Pete

[oniro3363]

Great....looking forward to his reponse.TY

[kubotapete]

I will e mail today to get an update for today.
Pete

[oniro3363]

I thought he said it had finished that day we spoke and they would emerge a new company within a few weeks...hhhmmm,I need to contact him again...unless you would prefer to?

[kubotapete]

To date, my understanding is that the court has not issued a final approval of the plan or plans.
Pete

[oniro3363]

I emailed and talked with P D baout 3 weeks ago if I remember correctly.

[kubotapete]

ONIRO3363,
Thanks for your input, the last time I checked was on 11/17 and at that time there was no final word on the set up. If you have further info or a name for me to contact I would be happy to pursue also.
Pete

[oniro3363]

POR was approved acouple of weeks ago...it will have a new name & stock symbol....I do not know what the new share structure will be....per my conversation with TECZ management.

[kubotapete]

txs
My e mail address is [e-mail], I am not directly connected to the company however I previously was a consultant to Solomon and still have some contacts in the company.
Pete

[txs]

Pete,
are you somehow connected to the company? How will you be receiving information?

[kubotapete]

TXS and Group,
There is no news to report yet. However for all of you that are patiently waiting with me, I will pass along any news as soon as possible.
Pete