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Soon, the pump will start and here are the newcomers to tell everyone how great this stock is. THIS IS AN EMPTY SHELL!!!!!!!
Over 6,000,000 shares in the last 2 days so far. Watch out for new posters on this site and the dump likely to follow, just like the last time. Keep away everybody, this is only an empty shell.
I agree with almost everything but responsibilities. I don't think that Naim and Benoit had anything negative to do with this failure but the 3 others are weasels. I've been saying it for a long time but no one listened, busy with sucking up to Gib and friends. Look where it got us all. I'm done with it and probably the pinks although pink is probably the right color for it.
Impossible, this company is gone for good. The company's assets were bought by the Quebec Group and apparently, according to my source in Ottawa, is trying to sell these off. It's just not worth anything at this point. This stock is history but I've been told that there might be some movement with the technology. I doubt it very much but who knows.........
If Rose and Believer Fever are gone, this place is dead for good. EFFC, R.I.P
The next wave is just around the corner. Standby for more. Stage 3 of "The Pump!!!!"
It will bounce tomorrow only to drop out of the sky again later. There might be another round but I doubt it. Too many people will have notice the two waves. Buying at .0022 might be a good buy there's another pump but watch out for that last downward step, it might hurt!!!!!!
His relatives have a lot dating back from the early times of MCCY
The pump yesterday, now the dump with 23 mill. + at .0022.
RH is not the worker, the others seem to be. RH was never anything other than a scammer.
Either a pump and dump or Raphael Huppe convinced some poor shmuck to invest and take control of the EFFC shell. His family owns about 50 mill. of this company and it wouldn't take much to take control. We know that he never stopped working of the CRAM from his basement with a few dedicated workers. Hang on, this may be fun to watch.
The CRAM is dead but someone may be working on the empty shell although it might be a bit expensive but if the reverse split is adequate, who knows? It might be possible.
I agree but we all should have known better from the obvious signs that different people showed us: from stealing the product from Biocognisafe, to Huppe's shannanigans, to the incompetence of the last BOD who negotiated with the Quebec group for almost a year with nothing to show for it. We lost lots of money, well over 200K in my case, but the Quebec group lost 1.5 million to acquire the assets of ECT with nothing to do with it. The CRAM is now useless, the software was stolen (with proof made public by the Trustee) and a contested patten (pending). The entire enterprise was flawed from the minute it left Biocognisafe. We never saw it despite the warnings.
People told us but we didn't believe them. I told everyone 4 months before the BK with the same results. Except for the timeline, we're all in the same boat. We believed in the wrong people and lost lots of money. Our own fault. Let this be a good lesson for all of us.
Agreed and we just have to point the legal action in the right direction.
Did you know that the Bain group already formed a company based in Quebec City (what a coincidence) and its CEO is an acquaintance of Gib de Medeiro(another coincidence?). Would it be another coincidence that G.P.Gauthier lives there and that the BOD is not doing anything to keep ECT afloat? It seems that the only one eager to save ECT is Guy Benoit and we need the BOD to file for Chapter 11, otherwise, we're done.
Agreed but the Trustee will take his cut before anyone else then only, the 3 little pigs: Bain, Belanger, Bertone
Just like us, most creditors won't be paid. The Bain group and the trustee will get all the money and assets of the company.
That's not what I'm hearing. GP Gauthier is working behind the scene all right but for Gordon Bain while Gib is discouraged and depressed considering the company as done. With only 2 people that aren't taking to each other on the BOD, what kind of surprise would they be preparing? I just don't know if this is not just wishful thinking. I say that the member of the BOD who are not working actively working at saving the shareholders should either resign or face lawsuits for failure to protect us. That's my promise to the BOD.
Thanks, I knew those as 504's
Thanks Mike.
what's a "T" trade?
I think that some one close to me is working on something. I'll check with him in a few hours when he's available.
Not at all, in my opinion.
Guy Benoit can't be reached, Gib is freshly back from Korea (probably sleeping but it probably doesn't matter much to him) Guy Paul Gauthier is in bed with the Bain/Belanger/others group and Guy Faucher is studying chapter 11, I believe. I think that the BOD has quit on us and considers the situation as if it was finalized and in full BK. I don't even know if it's aware that we're only in BK proceedings.
Too cheap to sell and to expensive to buy.
I just had a briefing from one of my contacts on that exact subject:
Canadian judges, like American judges, don't deal with unethical behavior except in politics. They only deal with illegal and criminal cases. On the other hand, we're not bankcrupt yet. We are mainly in bankrupcy proceedings. We will become bankrupt only after all debts, for which an opposition has been filed, will have been assessed by an independant court judge and each debts value and credibility proven as receivable. All other debts will be rejected along with the debt allegations already in litigation. As a result, and in the light of those assesments, the receivable debts will be compared to the assets of the company and a verdict will be rendered. If the company can levy enough financial resources to pay the creditors in full or an agreed upon portion, the BK will be avoided. However, the company will still have to face the debts in litigation in the future. Maybe the fat lady hasn't sung yet and only hit a bad note. Maybe the only fat man has sung. How do you call a fat man that sings a bad note: a baritone or a bertone?
Because Gib had the most to lose in this venture including 5 years of his life and a mortgage on his house. With Bain/Belanger/Claudio poking at the CRAM, he's left with nothing because his presence is basically no longer required as an engineer. Furthermore, he's very vulnerable because the BOD has no responsibility insurance according to my sources and the members might end up accountable for a nice chunk of debt. If we lost the CRAM 10 days ago to the Bain group, then I couldn't care less about who Gib screwed but remember that he always teamed up with Guy Paul Gauthier in the past, who is now working directly with Gordon Bain and the Trustee. No matter how you look at it, Gib is always in the center of things.
I agree with your last portion in that, when the BOD drops the ball, we must takeover but the first responsibility used to belong to the BOD; that's their only purpose. The Bain group are undebtedly rats but that doesn't take away the fact that Gib is a little rat too and probably works with them. If we can't get Chapter 11 protection, then we'll have to shift to lawsuits against Bain/Belanger/others although we would never regain the CRAM and patent.
I agree about this little rat. Gib did us in and possibly every one else too. He panics easily and wants to benefit from it. He can feel it slip from his hands.
True but these people are well prepared and I'm sure that they're expecting this. I fully agree with your approach but we'll only get one kick at the can and only one probably. If we can't get the CRAM (if it's still of value and I'll know soon) then, let's make sure that when Bain/Belanger/others get, it's totally worthless.
Extremely frustrating indeed. It seems that a lot of people have been trying to screw us from the word "go" and they've all been part of the BOD at one time or another. Very sad indeed but there seems to be more and more of those in Quebec in the last few years: Orex, PGYC, EFFC, Downshire, MountReal, Norbourg, etc... I don't know why but it's happening.
Thanks for the information and I'm going to get to the bottom of this. I really want to know even if it seems to be too late to be useful.
I've been told since day one that Tony Papa was not involved in the management of EFFC. Tony Papa and Tony Bisante were involved with the financing of Aquagenex, Guy Paul Gauthier's private company. I don't know anything about NVSR or its business. I'm certainly going to do some checking on this.
What does Tony Papa have to do with this??????
Same ole, same ole. When you don't know what to say, you always come back with Tony Papa or Downshire! This is childish!!
#1 Rose keep referring to the plan and she's part of your group. As far as I'm concerned, there never was a real plan.
#2 One of my contacts indicated to me that approx. 6 or 7 weeks ago, there were several tele-conf calls involving the BOD, and a few others with you (can't name you by name, that would be unethical) and several others of the US Investors Alliance Group. The answer from the group was that you didn't have any money to invest in the option to go and meet the Korean group. Your group alluded several times to Gib's plan on this board which was supposed to work, well...........nothing.
It's obvious that I can't give any names here, not yours, not theirs but one of my contacts was privy to one of the calls. As far as I'm concerned, there's still only one solution here and that's Chapter 11 for the US company. That's what my contacts are saying.
Up until 6 weeks ago, the company was salvageable but not anymore. According to my contacts, when a group of Canadian investors requested assistance from the American Investors Alliance refused and sided with the wrong camp (Gib's plan). Now, EFFC is dead regardless of what some might think. Suing Bain and Belanger is possible; however, it's useless except for personal satisfaction and at what price? Stopping the BK is impossible with the debts of the company and no resources.
Our goose.........is cooked.
I'm exactly in the same boat. We're out of gas.
"Looks too shaky right now"
That was the right statement for early last week. Now, it's a company without assets. As soon as the hammer drops, it's an empty shell.
People might argue that it's only the Canadian company that is bankrupt but usually, the bankrupcy of the sister company is about just a rubber stamp. We'll what happens to this one.
The way I see this, there are 2 alternatives regarding this stock.
1. One can keep the stock and wait for some one to buy the shell. This way, one can ride the stock and wait to recover, totally or partly, the money invested. It may be a good alternative and would warrant buying more, although at a much lower price than it is now. An empty shell is worth a decent sum of money in itself on the market in addition to the product of whoever would use it. Furthermore, buy keeping the shares, one could guarantee some benefits in the event that any lawsuits might be successful although not very probable.
2. One can sell now at a loss and avoid the total loss of investment if the initial investment was modest; otherwise, it will a big loss.
Do you still think that Chapter 11 was a bad idea? How much time do we have after a bankrupcy jugement do we have to request protection. With the available funds in my earlier post, can we convince a judge? What's the statute of limitation on this? I'm sure with your expertise as a lawyer, we could come up with something.