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SEC~Lawsuit;Stun-Gun-Maker(Stinger)Committed Fraud~Shares in the company fell 86 cents, or 59.3 percent, to 59 cents.
SEC Lawsuit Claims Stun Gun Maker Committed Fraud
Tampa Tribune January 30, 2008
TAMPA - The Securities and Exchange Commission said Tuesday that Tampa-based Stinger Systems, which markets stun guns to law enforcement agencies, and its chief executive officer, Robert Gruder, misled investors about one of the company's products.
In a civil lawsuit filed Monday in U.S. District Court in Atlanta, the SEC claims Stinger, which went public in 2004, made a series of false claims that led investors to buy the stock and inflate the share price.
Specifically, Stinger misled investors when it claimed that its stun gun was certified by the Bureau of Alcohol, Tobacco and Firearms, the SEC suit states. Stinger also falsely claimed the company's shares were traded on the Nasdaq Stock Market, the SEC said. The suit alleges the company told investors the gun was in production and ready to be sold and distributed when, in fact, manufacturing hadn't begun.
Gruder, the company's largest shareholder with more than 5 million shares, did not return phone calls seeking comment Tuesday. But in a prepared statement, he said the allegations are not related to the company's current stun gun product.
"I do not believe I committed securities fraud," he said.
>>more>>> http://tinyurl.com/yurfld
hopscotch~tftr~only if you have the time...I was just curious how it played out but no interest beyond that! <g>
best!
kp
jmerck~XAIN...8k just read. Toxic?
Form 8-K for XA, INC.
17-Dec-2007
Triggering Events That Accelerate or Increase a Direct Financial Obligation or an Obliga
ITEM 2.04 TRIGGERING EVENTS THAT ACCELERATE OR INCREASE A DIRECT FINANCIAL OBLIGATION OR AN OBLIGATION UNDER AN OFF-BALANCE SHEET ARRANGEMENT.
XA, Inc. (the "Company," "we," and "us") has a line of credit agreement which it entered into on August 12, 2004, with LaSalle Bank National Association ("LaSalle") in the amount of $750,000. The line of credit was originally due August 12, 2005, and the interest varied at 0.25% over the prime rate. The Company's assets secure the line of credit. Prior to the expiration of the line of credit, the line of credit was renewed for another year and increased to $800,000. On or around June 30, 2007, the Company entered into a promissory note evidencing amounts owed under the line of credit, in the amount of $600,000, which promissory note accrued interest at the rate of 2.25% above the prime rate then in affect, which line of credit was later amended and replaced by the Line of Credit, defined and described below.
On June 1, 2006, we entered into a business loan for a loan of up to $750,000 with LaSalle, which loan accrued interest at the prime rate plus 0.25% until paid in full. The loan was originally due on June 30, 2007, but was extended by the parties entry into a separate promissory note on or around June 30, 2007, which increased the interest rate to the prime rate then in effect, plus an additional 2.25% per annum, which provided for $66,666 to be paid on July 31, 2007; a payment of accrued interest under the promissory note on July 31, 2007; and one payment of principal and interest of approximately $200,064 on July 31, 2007. We failed to make the required payments due under the promissory note pursuant to the payment schedule above, and as such, the interest rate of the funds due under the promissory note increased by 2%; however, this promissory note was subsequently amended and replaced by the Line of Credit defined and described below.
On or about August 27, 2007, we entered into a promissory note with LaSalle, evidencing a line of credit (the "Line of Credit"), which evidenced and aggregated the amounts previously outstanding under the line of credit and promissory note described above, in an amount equal to $867,000. The Line of Credit bears interest at the rate of 2.25% above the prime rate then in effect, which was equal to 10.5% per annum as of August 27, 2007, adjustable as provided in the Line of Credit, until paid. We were required to make monthly payments of interest under the Line of Credit, with the full outstanding balance of the Line of Credit due on December 1, 2007. The agreement provides that, in the event of default, the interest rate of the Line of Credit will increase by 2% over the interest rate then in effect.
We failed to make the required payment due under the promissory note on December 1, 2007, which promissory note had a remaining balance of $844,485.03 as of December 11, 2007. This unpaid balance consists of $837,904.00 in principle and $6,581.03 in accrued and unpaid interest. On December 3, 2007, LaSalle notified the Company by letter that the promissory note was in default, and beginning on December 4, 2007, interest will accrue on the unpaid balance of the promissory note (and any accrued and unpaid interest thereon) at the default annual rate of 11.75% (the prime rate plus 4.25% per year), based on the bank's prime rate of 7.5%. Pursuant to LaSalle's letter as of December 4, 2007, the Company has until December 31, 2007 to repay the remaining balance of the promissory note, or LaSalle would seek alternatives to payment.
We are currently in discussions with LaSalle regarding the repayment of the promissory note. The Company does not currently have sufficient cash on hand to repay the Line of Credit; however, the Company is in discussions with various of its prior investors regarding such investors purchasing additional securities and convertible promissory notes from the Company, which if the Company is successful in selling, the Company believes will help it to raise the additional funding it will require to repay a portion of the LaSalle Line of Credit prior to December 31, 2007, and to allow the Company to obtain an extension of the Line of Credit from LaSalle for an additional six (6) months, of which there can be no assurance.
berge~tftr~totally agree! lol eom
jmerck~I'm curious if you ever got your Q answered? I thought it was interesting and wondered myself how it plays out? lol
If a company with 150 mill OS issues an SB-2 for 52 mill shares in May 2007, then does aprrox 1000:1 reverse split in Sep 07 and drops the OS to 1.3 million shares, how does that affect the dilution?
tia
kp
expat~welcome to the board and may you benefit from you investment here. Thanks for posting this latest "sixty third (63rd) wrongful death or injury lawsuits dismissal or judgment entered in favor of TASER International" ... somehow missed that one lol
...so 63 down! Do you know how many are left?
tia
kp
NEW YORK (AP) — The New York Stock Exchange on Thursday agreed to buy the American Stock Exchange, ending a once intense rivalry that began in colonial times when brokers traded in outdoor markets.
Thursday January 17, 5:18 PM EST
Both exchanges have battled for corporate listings and bragging rights since the early 1900s, with their trading floors just a short walk away from each other in Lower Manhattan. Newspapers around the country all listed the stock swings on the nation's two dominant markets, until investors began paying more attention in the 1990s to technology issues on the upstart Nasdaq Stock Market.
Their evolution took a very different path — with the Big Board forming NYSE Euronext to become the world's first trans-Atlantic exchange. The AMEX, unable to compete like it once did, began to focus on trading options and other financial products.
The AMEX, which once hosted the likes of big-name stocks such as The New York Times Co. and The Washington Post Co., now trades generally smaller companies that are often too illiquid to meet the standards of bigger rivals.
NYSE Euronext said it would pay AMEX's seatholders, which are generally members that trade at the exchange, $260 million in stock. In addition, they would receive more stock after the sale of the AMEX's landmark building on 86 Trinity Place — a landmarked art deco building it moved into in 1921 and that sits only blocks away from the World Trade Center site.
The deal will give NYSE Euronext a second U.S. license for an option exchange. It would make the NYSE the No. 3 U.S. options marketplace.
The NYSE has been looking to move further into the options business.
EZ~that's some list! To show ya how far I am "behind" I just noticed you don't have GOOG any longer... talk about my not staying current lol
hopefully tomorrow is better
Indeed! ...for us all and likewise my well wishes for 2008 backATcha
Hope 2008 is good to you ----- we just got to get through the storm clouds !!!!
To quote Peter, you seem to have found your "happy" place while I am searching for serenity
(Serenity is not freedom from the storm but rather peace amid the storm)
Hope this isn't one of those 40 days and 40 nights thingies <g>
GL and continued best!
kp
EZ~TASR~yep! I've been posting those same stunning thoughts on the taser board lol
1/10/08; NEW YORK (AP) -- Shares of Taser International Inc. rose in premarket trading Thursday after a Jefferies & Co. analyst said investors have overreacted to a rival's patent challenge
and the "overreaction" continues <g>
TASR Bid: 10.91 Ask: 11.00 Last: 10.85 ($): -0.47 Vol: 3,205,666
Yesterday I was trying to decide ... tasr vs. ebay and went with ebay for an add on position
EBAY Bid: 28.12 Ask: 28.49 Last: 28.09 ($):+ 0.14 Vol: 21,935,164
In a market where much is looking "too cheap" it would probably have been wiser to have not done anything ... much was even cheaper today <g>
Hope you are doing better than I am :-o((
best!
kp
cta751~thanks for making your point in a public forum. Personally have never known anyone with your depth of understanding and use of the Taser line. Hope you will stick around and enlighten those obviously misguided posters lol
Perhaps GS is employed by Amnesty International <bg>
Seeing GS is now in jail he could use them? Amnesty International that is!
TA and GL to all
best!
kp
TASR`11.57x11.58Last=11.58($)-0.39 Vol 1,602,036
more Attorney McNulty related subterfuge (262 patent)?
Jeffries & Co. Information on Taser's 7,234,262 Patent 'Grossly Inaccurate'
12:13p ET January 10, 2008 (PR NewsWire)
Stinger Systems, Inc. (OTC Bulletin Board: STIY), a leader in electro-stun technology, today announced that Mr. Matthew McKay's at Jeffries & Co. statement that Taser's challenged 7,234,262 patent only reads upon its low sales volume M-26 weapon is grossly inaccurate. The 7,234,262 patent is for the data recording feature, which is integral to the circuit design of both Taser's M26 and X26 weapons. The X-26 provides the vast bulk of Taser International, Inc.'s weapon sales. Tasers's patent 5,936,183 for a non-lethal landmine has already been cancelled, and the United States Patent Office has refused to reinstate the patent. On December 21, 2007, Stinger Systems, Inc. filed PTO/SB/57 with the U.S. Commissioner of Patents for a reexamination of Taser International, Inc.'s (Nasdaq: TASR) intellectual property. With the allegations of inequitable conduct in a pending federal law suit, Taser's related patents 6,636,412 and 7,075,412 are also at risk of invalidation, as well as their wave shaping technology which some consider Taser's core technology.
Attorney James McNulty commented, "It is exactly this type of misinformation's being fed to the financial markets that can ultimately so hurt the small investor. I would urge anyone go to www.uspto.gov, the official site of the United States Patent and Trademark Office, where accurate copies of the concerned patents are available, and, themselves, evaluate the importance of these patents to Taser's continued operation. I would also urge the analyst's community to look at Taser's conduct in recent federal court cases to gain a sense of the character of Taser's governance or lack thereof. I, myself, having no equity interest in Stinger Systems, Inc. whatsoever, but having decades of experience with legal issues, business issues, personalities and technology here involved, consider these patent reexamination to be quite serious."
TASER Comments On Intellectual Property
Jan 10, 2008 (PrimeNewswire)
TASER International, Inc. (Nasdaq:TASR), a market leader in advanced electronic control devices (ECD), today comments on a desperate tactic by a distressed company. "These attempts by Stinger Systems, Inc. to confuse the market coming from a desperate company with minimal sales of hand-held ECD products in the marketplace demonstrates the dire straits they face as they are not having success with their existing efforts to compete with our TASER(r) devices," commented Tom Smith, Founder and Chairman of the Board of TASER International, Inc. "Customers continue to look to TASER(r) technology as the proven market-leader for electronic control devices. TASER International continues to focus on providing the best technology for our customers while our legal team deals with these day-to-day legal issues as well as expanding our portfolio of 22 granted U.S. patents and another 40 applied U.S. patents covering our core technology and future products. This is in addition to 14 issued foreign patents and another 61 pending foreign patents. This pattern of press releases issued over the last year by Stinger and McNulty is simply an attempt to distract the market and investors and will be dealt with accordingly through appropriate means rather than through responding to each bizarre press release," continued Mr. Smith.
TASER International has three U.S. patents issued as well as an additional two pending U.S. patents protecting TASER's new family of area denial products. When TASER purchased the assets of Tasertron, which was affiliated with attorney James McNulty Jr., in 2003, Tasertron falsely represented in the sale documents that it had paid all of the maintenance fees to the U.S. Patent and Trademark Office (USPTO) on U.S. patent 5,936,183, one of the patents acquired by TASER in the purchase of Tasertron assets. The USPTO website also erroneously showed that all maintenance fees had been paid for this patent as well. In 2005 TASER was informed that this patent had expired due to non-payment of maintenance fees by McNulty's former affiliated company, contrary to its representations. TASER has filed documents with the USPTO for reinstatement of this patent. This expired patent, however, represents older Tasertron technology and now has limited value to the Company. Subsequent issued and pending patents adequately protect TASER's new area denial technology.
In related matters, TASER filed its Second Amended Complaint against Stinger Systems, Inc. on October 10, 2007 with the U.S. District Court for the District of Arizona, Case no. CV07-0042-PHX-MHM. TASER is asserting three of its patents were infringed by Stinger in the patent infringement lawsuit. Those three patents are: 6,999,295 (the "'295 patent"); 7,102,870 (the "'870 patent"); and 7,234,262 (the "'262 patent"). TASER is claiming that Stinger's S-200 device not only infringes on these three patents but also that Stinger has committed false advertising and patent false marking. TASER is seeking a permanent injunction against Stinger, as well as, compensatory damages, punitive damages, attorneys' fees, and costs.
Stinger has filed a request for re-examination on the '262 patent and this action does not affect TASER's other 21 patents covering TASER technology. All of the issues raised in the request for re-examination were properly addressed by the USPTO when it properly issued the '262 patent. Since the request for re-examination does not raise any new issues that were not previously addressed by the USPTO, there is no legal basis to substantiate the request for re-examination.
"The '262 patent claims priority from an original patent application that was filed in 1999," stated TASER's patent litigation counsel Chad Campbell of the law firm of Perkins Coie Brown & Bain. "Stinger's re-examination request asserts that the '262 patent is not entitled to that priority date, but the issue Stinger is trying to raise is easily answered by comparing the original and the intervening applications to the invention claimed in the '262 patent. As long as those earlier applications described the '262 invention, 1999 is the right priority date and Stinger's inequitable conduct theory fails. The records of the USPTO show that TASER openly disclosed its claim of priority to the patent examiner," continued Campbell.
"The filing of a request for re-examination of the '262 patent is merely a delay tactic in our patent infringement lawsuit against Stinger since Stinger appears to be unable to defend our claim of infringement on the merits," stated Douglas Klint, TASER International's General Counsel. "This was confirmed yesterday when Stinger filed a motion to stay the patent infringement lawsuit, which motion TASER International will oppose. It should be noted that McNulty previously lost a patent infringement lawsuit he filed against TASER International for one of his patents and his unsubstantiated opinions about TASER's validly issued patents are evidence of his apparent vengeance towards TASER. It is also highly unusual and suspect for a patent attorney such as McNulty to make any comments about another company's stock valuation. We believe this unusual behavior represents a continuing course of conduct concerning statements about TASER's stock valuation by McNulty stemming from prior litigation with Bestex, one of his clients. Bestex has represented that it has exited the electronic control device market place as a result of that litigation which concluded when the court granted both parties summary judgment. McNulty has appealed that ruling which appeal is pending," concluded Klint.
TASR`11.98x11.99Last=11.99($)-0.55 Vol 5,004,065
Sonny~can you email some more info? Thanks! eom
kauaipi@myway.com
Telkonet Announces Conference Call to Introduce Next Generation 200 Mbps Product Line
Thursday January 10, 9:05 am ET
Telkonet Management Team to Discuss Revolutionary PLC Product Offering
GERMANTOWN, Md.--(BUSINESS WIRE)--Telkonet, Inc. (AMEX:TKO - News), the leading technology solutions provider for broadband networking, end-to-end service support and energy management, today announced its management team will hold a conference call to discuss the introduction of its new Gen5 200 Mbps powerline communications (PLC) product offering on January 14th at 4:15 pm (EST).
Jason Tienor, chief executive officer, commented, “Our Gen5 product is an important addition to our already strong product line. This new generation of product, which operates at 200 Mbps, provides our customers a feature-set that is unmatched in today’s marketplace. The implications of this product go well beyond basic PLC transport, as we have integrated this revolutionary technology into our other product initiatives in the areas of wireless high-speed Internet access, energy management, and electric utility substation monitoring. Please join us next week as we outline the capabilities of this revolutionary product line. After our presentation, the management team will be available to answer questions relating to this product and to all of our other growth initiatives.”
Interested parties will be able to listen to the call by clicking on the following link: http://viavid.net/dce.aspx?sid=00004A2B, or access at www.viavid.net. The call will also be available by dialing 480.629.9041 when calling within the United States or internationally. The conference ID is: 3831208. There will be a playback of the call available until January 17. To listen to the playback, please call 303.590.3030 when calling within the United States or internationally and enter pass code 3831208.
BTW~PBS' nightly business report a few days back ended their show with a look at Taser's tuperware-like parties for women to demo & purchase C-2 units in the home... they are turning up everywhere lol
Some folks today got a IMO steal (on the Stinger news temp sell off) seeing it closed @ $ 12.54 -0.74 after hitting a day LO of $ 10.11 on 5,357,628 share vol
Wish I had caught that at the time... anyone catch those cheap shares?
..."for women who want fashion with a bite"...
TASER to Unleash New Leopard Print Personal Protection Devices
7:30a ET January 7, 2008 (PrimeNewswire)
TASER International, Inc. (Nasdaq:TASR), a market leader in advanced electronic control devices, today will unleash the new leopard print TASER(r) C2 personal protection device at the 2008 International Consumer Electronic tradeshow in Las Vegas, NV on Monday, January 7, at 10:00 a.m. PST.
In addition, TASER International will unveil the new, innovative TASER MPH (Music Player Holster) which is a combination MP3 player and TASER C2 holster. The 1GB TASER MPH allows for both personal protection and personal music for people on the go.
"These new product are a result of listening to our customers. Personal protection can be both fashionable and functionable," said Rick Smith, CEO and founder of TASER International. "The TASER C2 leopard print design provides a personal protection option for women who want fashion with a bite."
TASER International also will debut its new television infomercial starring John Bunnell, TV personality and host of World Wildest Police Videos, and featuring Ultimate Fighting Championship(r) star Eric Swiger, women's safety expert Kathleen Baty, and Maricopa County Sheriff Joe Arpaio. In its entirety, the 30-minute infomercial will directly educate consumers about the TASER C2.
In addition to the leopard print, other new TASER C2 colors include red-hot red and fashion pink.
About TASER International, Inc.
TASER International's products protect life. TASER provides advanced Electronic Control Devices (ECDs) for use in the law enforcement, medical, military, corrections, professional security, and personal protection markets. TASER devices use proprietary technology to incapacitate dangerous, combative, or high-risk subjects who pose a risk to law enforcement officers, innocent citizens, or themselves in a manner that is generally recognized as a safer alternative to other uses of force. For more information, please call TASER International at (800) 978-2737 or visit our website at http://www.TASER.com
Reexamination of Taser's Intellectual Property by Stinger?
Stinger Systems Request Reexamination of Taser International's Intellectual Property
9:15a ET January 9, 2008 (PR NewsWire)
Stinger Systems, Inc. (OTC Bulletin Board: STIY), a leader in electro-stun technology today announced that has submitted documents to the United States Patent and Trademark Office requesting a reexamination of Taser International's intellectual property.
The United States Patent and Trademark Office is currently evaluating whether to reexamine Taser International, Inc.'s (Nasdaq: TASR) United States Patent 7,234,262. The application for the '262 Patent was filed on December 2, 2005. It is alleged that the application for the '262 Patent was erroneously designated as a continuation of an earlier Taser patent application, filed on September 17, 1999, and that Taser failed to disclose to the United States Patent and Trademark Office that from at least the year 2000, Taser had manufactured an M-26 model Taser, embodying the inventions claimed in the '262 application. It is further alleged that, consequently, the inventions claimed in the '262 application are unpatentable as obvious pursuant to 35 United States Code 103(a). A copy of the complete request for reexamination appears at www.stingersystems.com.
In a pending law suit, that is Taser International, Inc. v. Stinger Systems, Inc. (OTCBB: STIY), Stinger Systems, Inc. alleges that the erroneous designation of Taser's December 2, 2005 '262 application as a continuation of Taser's earlier September 17, 1999 application, and Taser's failure to disclose during the application proceedings that it had, for some years prior to 2005, manufactured an M-26 Taser, embodying inventions claimed in the '262 application, combine to constitute Taser's inequitable conduct before the United States Patent and Trademark Office. A federal court may not only invalidate a patent in the event of an applicant's inequitable conduct when prosecuting the application before the United States Patent and Trademark Office, but inequitable conduct with respect to one patent in a family of patents can infect all related applications, Nilssen v. Osram Sylvania, Inc..(Fed. Cir. 2007) 504 F.3d 1223, 1230. Patents in the family include Taser's patents 6,636,412 and 7,075,770. Taser's patents 6,636,412, 7,075,770 and 7,234,262 may all be invalidated if Stinger's argument in the case prevails.
Attorney James McNulty, Jr., who undertook advanced studies in business with the late Peter Ferdinand Drucker and studied law under James E. Rogan, former United States Under Secretary of State for Intellectual Property and Director of the United States Patent and Trademark Office, commented "It appears in my opinion that the financial markets are under the misimpression that Taser International has a patent monopoly on projectile stun guns. In my further opinion, this misimpression supports an unjustifiably speculative price for Taser international stock. I have reviewed Taser's portfolio of patents and in my considered professional opinion, the patents contained therein are extremely narrow (and in some cases even farcical) patents, that provide Taser little or no competitive advantage. However, Stinger believes that all Companies must follow the protocols of patent filings and believe that Taser has not done a proper job of filing these patents and must be challenged. In my further considered professional opinion, Stinger realizes the challenges of creating a state of the art stun gun that has the ability to not just shock but immobilize individuals. That is the key to entering into this market, to have technology that immobilizes. Stinger has that and has filed for patents for its new technology. Stinger also has an active research programs for multiple products. Stinger Systems, Inc. also sells patented electronic prisoner transport and riot shield devices and has developed patent pending technologies for reducing the size of disabling shock circuits for discharge from conventional firearms."
ABOUT STINGER SYSTEMS
Stinger Systems, Inc., a leading provider of electro stun technologies, develops and sells a broad array of products utilizing advanced electro sparc- pulsed technology to police, corrections, and security sectors worldwide. http://www.stingersystems.com.
Duffau/Tim~tftr(s)~now $4.895 leveling off? eom
SWHC Bid: 4.89 Ask: 4.90 Last: 4.895 ($): -0.075 Vol: 1,617,353
Duffau~last=$4.97...is the dumping over?
1/7/08; SWHC Bid: 5.00 Ask: 5.12 Last: 4.97 ($): -0.18 Vol: 1,485,662
1/5/08; Is the Dumping OVER???? The stock rose significantly 10 minutes before closing and the dumping seemed to slow about 30 minutes before closing. There were no more rows of 100 share units towards end of day
tia
kp
Mickey10305~tftr! Makes sense-glad I asked eom
RandyKsd~something I obviously missed so I thank you for posting this info (cut&paste at very end)
Staples...it's pretty obvious he just wants liquidity now...and apparently at any costs. The last filing (when he still held over 2.5%) showed that he was selling out his position. Dated September 15, 2007
...
Email from Staples on Yahoo Message Board:
Re: Ed Staples is a RAT! by cjust_2000
"I did email him and he replied in a matter of hours. He was quite cordial informed me that he did not have a grudge against EST and has still been promoting their products. He is nearing retirment and liquidating his position for income stocks. He also said that since he now has less than 1% ownership, he no longer needs to file about his intentions. So, you can do the math and see that the maximum position he could hold is around 500K shares... or about $40,000.
"I don't think this board really needs to worry too much about Staples any more. We should really concentrate on getting the company to do a better job of marketing their products so they can make more sales."
----------------------------------------------------------------
I had been checking only under "Insider Trades" (see below from both the Nasdaq and yahoo) and they both seemed to be behind the times with respect to Staples' sales?
http://tinyurl.com/28ewbw
Last 3 Mo. Last 12 Mo.
Number of Insider Trades: 1 2
Number of Buys: 1 2
Number of Sells: 0 0
Net Activity: 1,157,407 1,660,084
Total Shares Traded: 1,157,407 1,660,084
Number of Shares Bought: 1,157,407 1,660,084
Number of Shares Sold: 0 0
Insider
Select an insider below for more information. Relation Last
Date Form
Type Trans
Type Own
Type Shares
Traded Last
Price Shares
Held
BUSHON RITA BENOY DIR 10/26/2007 Form 3 IN 0 - 9,632,534
AMSALEM MICHEL A DIR 10/10/2007 Form 4 JB IN 1,157,407 $0.080 1,157,407
AMSALEM MICHEL A DIR 08/14/2007 Form 4 JB IN 502,677 $0.180 502,677
CHANG FRANCIS DIR 12/29/2006 Form 3 IN 0 - 3,595,913
KRISHNAN MIKE DIR 12/29/2006 Form 3 IN 0 - 9,632,534
LIM TEONG OFF 12/29/2006 Form 3 IN 0 - 4,729,112
STAPLES EDWARD OFF 12/29/2006 Form 3 D 0 - 3,768,836
Page 1 of 1
http://tinyurl.com/2e5nwn
INSIDER TRANSACTIONS REPORTED - LAST TWO YEARS
Date Insider Shares Type Transaction Value*
26-Oct-07 BUSHON RITA BENOY
Director 9,632,534 Indirect Statement of Ownership N/A
10-Oct-07 AMSALEM MICHEL A
Director 1,157,407 Indirect Acquisition (Non Open Market) at $0.08 - $0.08 per share. $93,0002
14-Aug-07 AMSALEM MICHEL A
Director 502,677 Indirect Acquisition (Non Open Market) at $0.18 - $0.18 per share. $90,0002
29-Dec-06 KRISHNAN MIKE
Director 9,632,534 Indirect Statement of Ownership N/A
29-Dec-06 CHANG FRANCIS
Director 3,595,913 Indirect Statement of Ownership N/A
29-Dec-06 STAPLES EDWARD
Officer 3,768,836 Direct Statement of Ownership N/A
29-Dec-06 LIM TEONG
Officer 4,729,112 Indirect Statement of Ownership N/A
Data provided by EDGAR Online
* = Where indicated, some values are estimates.
1 = Potential proceeds estimated by the filer.
2 = Estimated based on the average of multiple prices reported.
3 = Multiple dates reported. Most recent date shown.
http://tinyurl.com/2659tg
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D/A
(Amendment No. 1)
UNDER THE SECURITIES EXCHANGE ACT OF 1934
ELECTRONIC SENSOR TECHNOLOGY, INC.
(Name of Issuer)
Common Stock, par value $0.001 per share
(Title of Class of Securities)
285835 10 4
(CUSIP Number)
Edward Staples
31194 La Baya Drive
Westlake Village, California 91362
(818)292-8384
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
September 15, 2007
(Date of Event Which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of Sections 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box [ ].
The remainder of this cover page shall be filled out for reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
1
CUSIP No. 285835 10 4
-------------------------------------------------------------
1 NAME OF REPORTING PERSON Edward Staples
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
-------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [ ]
-------------------------------------------------------------
3 SEC USE ONLY
-------------------------------------------------------------
4 SOURCE OF FUNDS OO
-------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS
IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e) [ ]
-------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION United States
NUMBER OF ---------------------------------------------
SHARES 7 SOLE VOTING POWER 2,333,836
BENEFICIALLY ---------------------------------------
OWNED BY 8 SHARED VOTING POWER 0
THE ---------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER 2,333,836
PERSON WITH ---------------------------------------
10 SHARED DISPOSITIVE POWER 0
---------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON 2,333,836
-------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES [ ]
-------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 4.25%
-------------------------------------------------------------
14 TYPE OF REPORTING PERSON IN
-------------------------------------------------------------
2
ITEM 1. SECURITY AND ISSUER
This Schedule 13D/A relates to shares of common stock, par value $0.001 per share (the "Common Stock"), of Electronic Sensor Technology, Inc., a Nevada corporation (the "Issuer"), held by the person identified herein. The address of the principal executive office of Issuer is 1077 Business Center Circle, Newbury Park, California 91320.
ITEM 2. IDENTITY AND BACKGROUND
This Schedule 13D/A is filed by Edward Staples, a United States citizen (Dr. Staples is sometimes referred to herein as "Reporting Person").
Dr. Staples retired from the company effective on March 7, 2007.
The Reporting Person, and to the best knowledge of the Reporting Person has not, during the last five (5) years, been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) or been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction resulting in a judgment, decree or final order enjoining future violations of , or prohibiting or mandating activities subject to, Federal or State securities laws or finding any violation with respect to such laws.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
Issuer was incorporated under the laws of the state of Nevada as Bluestone Ventures Inc. ("Bluestone") on July 12, 2000. Issuer changed its name to Electronic Sensor Technology, Inc. on January 26, 2005 in connection with the acquisition by merger of the parent companies of Electronic Sensor Technology, L.P. (the acquisition, as more fully described below, referred to herein as the "Transaction").
On February 1, 2005, pursuant to the terms of an Agreement and Plan of Merger by and among Issuer, Amerasia Technology, Inc. ("Amerasia Technology") holder of approximately 55% of the partnership interests of Electronic Sensor Technology, L.P., L&G Sensor Technology, Inc. ("L&G Sensor Technology") holder of approximately 45% of the partnership interests of Electronic Sensor Technology, L.P., Amerasia Acquisition Corp., a wholly-owned subsidiary of Issuer, and L&G Acquisition Corp., a wholly-owned subsidiary of Issuer, Issuer acquired 100% of the outstanding equity partnership interests of Electronic Sensor Technology, L.P. Under the Agreement and Plan of Merger:
(i) Amerasia Technology merged with and into Amerasia Acquisition Corp. such that it became a wholly-owned subsidiary of Issuer;
(ii) L&G Sensor Technology merged with and into L&G Acquisition Corp. such that L&G Sensor Technology became a wholly-owned subsidiary of Issuer;
(iii) as a result of the mergers of (i) and (ii), Issuer indirectly acquired the partnership interests of Electronic Sensor Technology, L.P.; and
(iv) Issuer issued 20,000,000 shares of its Common Stock to the shareholders of Amerasia Technology and L&G Sensor Technology.
Prior to the Transaction, Dr. Staples owned 30.21% of the outstanding shares of Amerasia Technology. Pursuant to the Agreement and Plan of Merger, Dr. Staples had the right to receive 3,081,420 shares of Bluestone common stock inexchange for his shares of Amerasia Technology and such shares were issued to Dr. Staples.
3
Prior to the Transaction, Electronic Sensor Technology, L.P. entered into Debt Conversion Agreements with holders of its outstanding debt, including Dr. Staples and Amerasia Technology. Pursuant to the Debt Conversion Agreement with Dr. Staples, Electronic Sensor Technology, L.P. agreed to convert $399,643 of debt into the right to receive 399,643 shares of Bluestone common stock and a warrant to purchase 199,822 shares of Bluestone common stock at $1.00 per share, exercisable only if the trading price of such stock is at least $1.50 per share. Pursuant to the Debt Conversion Agreement with Amerasia Technology, Electronic Sensor Technology, L.P. agreed to convert $952,577 of debt into the right to receive 952,577 shares of Bluestone common stock and warrants to purchase 476,289 shares of Bluestone common stock at $1.00 per share, exercisable only if the trading price of such stock is at least $1.50 per share. Following the Transaction, Issuer issued such common stock and warrants to the former debtholders of Electronic Sensor Technology, L.P., of which Dr. Staples received
(i) 399,643 shares and a warrant to purchase 199,822 shares by virtue of the debt owed to Dr. Staples and (ii) 287,773 shares and a warrant to purchase 143,867 shares, which represented Dr. Staples's portion of the shares and warrants received by Amerasia Technology and distributed to its shareholders.
Dr. Staples was granted an option to purchase 100,000 limited partnership interests of Electronic Sensor Technology, L.P. at $1.00 per limited partnership interest on December 31, 2003. Such option was terminated, pursuant to a Termination Agreement, in connection with the Transaction and was replaced with an option to purchase 100,000 shares of Common Stock at $1.00 per share.
The summary descriptions contained in this Schedule 13D of the Agreement and Plan of Merger and other related agreements and documents do not purport to be complete and are qualified in their entirety by reference to the complete texts of such agreements and documents listed in Item 6 and incorporated herein by reference.
ITEM 4. PURPOSE OF TRANSACTION
The Reporting Person engaged in the Transaction (as described in Item 3 above) based on the belief that the transaction would, among other things, (a) provide the Issuer's business with increased access to capital, (b) enhance the competitive position of the Issuer's business and (c) allow the Issuer's business to expand its research and development, product commercialization and manufacturing efforts.
The Reporting Person has no plans or proposals of the types set forth in clauses (a) through (j), inclusive, of the instructions to Item 4 of Schedule 13D.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
(a), (b) There were 54,955,687 shares of Common Stock issued and outstanding and no shares of preferred stock issued and outstanding as of the close of business on August 7, 2007. Each shareholder is entitled to one vote for each share of Common Stock on all matters submitted to a shareholder vote. As of the date hereof, Dr. Staples has beneficial ownership (within the meaning of Rule 13d-3 under the Exchange Act) and sole power to vote and sole dispositive power over
(i) 2,777,525 shares of Common Stock which represent approximately 4.25% of the shares of Common Stock deemed to be issued and outstanding as of August 7,2007
(c). Since the original filing of 13D the reporting person has effected the following sales of shares of Common stock in open market transactions:
Date Price per Share No. of Shares Sold
--------------------------------------------------------
7/23/2007 0.18 120,000
--------------------------------------------------------
7/24/2007 0.18 250,000
--------------------------------------------------------
7/25/2007 0.19 120,000
--------------------------------------------------------
7/26/2007 0.18 55,000
--------------------------------------------------------
8/2/2007 0.17 60,000
--------------------------------------------------------
8/6/2007 0.15 40,000
--------------------------------------------------------
8/13/2007 0.14 230,000
--------------------------------------------------------
8/14/2007 0.10 50,000
--------------------------------------------------------
8/22/2007 0.12 190,000
--------------------------------------------------------
8/23/2007 0.13 50,000
--------------------------------------------------------
8/24/2007 0.11 70,000
--------------------------------------------------------
8/30/2007 0.10 50,000
--------------------------------------------------------
9/4/2007 0.09 100,000
--------------------------------------------------------
9/10/2007 0.09 150,000
(d) Not applicable.
(e) Not applicable.
4
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO SECURITIES OF THE ISSUER
As part of the Transaction, Dr. Staples entered into or approved the following agreements:
(a) Agreement and Plan of Merger, dated as of January 31, 2005, by and among Bluestone Ventures Inc., Amerasia Acquisition Corp., L&G Acquisition Corp., Amerasia Technology Inc., and L&G Sensor Technology, Inc. (incorporated by reference from Exhibit 10.1 of Issuer's Form 8-K filed on February 7, 2005), the form of which is attached hereto as Exhibit 99.1 and incorporated herein by reference.
(b) Termination Agreement, dated January 22, 2005, between Electronic Sensor Technology, L.P. and Edward Staples, attached hereto as Exhibit 99.2 and incorporated herein by reference, pursuant to which all prior option agreements by and between Electronic Sensor Technology, L.P. and Edward Staples were terminated and replaced with an option to purchase shares of Bluestone.
(c) Debt Conversion Agreement, dated January 22, 2005, between Electronic Sensor Technology, L.P. and Edward Staples, attached hereto as Exhibit 99.3 and incorporated herein by reference, pursuant to which the debt owed by Electronic Sensor Technology, L.P. to Edward Staples was converted into the right to receive securities of Bluestone.
(d) Debt Conversion Agreement, dated January 22, 2005, between Electronic Sensor Technology, L.P. and Amerasia Technology, Inc., attached hereto as Exhibit 99.4 and incorporated herein by reference, pursuant to which the debt owed by Electronic Sensor Technology, L.P. to Amerasia Technology, was converted into the right to receive securities of Bluestone.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
NONE
* * *
5
SIGNATURES
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete, and correct.
Date: September 17, 2007 /s/ Edward Staples
------------------------------------------
Edward Staples
6
RandyKsd~recent amended PROSPECTUS 424B3 filed on 12/28/2007 seems to indicate the OS will be growing considerably?
I don't see EST as a pump and dump stock like so many of the companies you see out there. In fact...if memory serves...the outstanding shares has stayed about the same for the last year. That's a good sign
...
On the other hand, if you think about it...if the company does announce some big news, we could easily break out with the momentum players jumping on board...and easily churn through 5-10 million shares in a day or two
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
PROSPECTUS SUPPLEMENT Filed Pursuant to Rules 424(b)(3)
(to prospectus dated November 9, 2007) and 424(c)
Registration No. 333-130900
[GRAPHIC OMITTED] ELECTRONIC SENSOR TECHNOLOGY
ELECTRONIC SENSOR TECHNOLOGY, INC.
27,538,695 SHARES OF COMMON STOCK
This document supplements the prospectus dated November 9, 2007 relating to
the registration of our common stock under our Registration Statement on
Form SB-2 (Registration No. 333-130900). This prospectus supplement is
incorporated by reference into the prospectus.
This prospectus supplement modifies and supersedes any reference to January
1, 2008 in the prospectus dated November 9, 2007 to replace "January 1, 2008"
with "April 1, 2008".
The remainder of the information in this prospectus supplement modifies the
information set forth under the headings "Selling Security Holders" and "Certain
Relationship and Related Transactions" in the prospectus dated November 9, 2007.
INVESTING IN OUR COMMON STOCK INVOLVES RISK. SEE "RISK FACTORS"
BEGINNING ON PAGE 2 FOR A DISCUSSION OF CERTAIN RISKS THAT YOU SHOULD
CONSIDER BEFORE INVESTING IN OUR COMMON STOCK.
NEITHER THE SECURITIES AND EXCHANGE COMMISSION NOR ANY STATE SECURITIES
COMMISSION HAS APPROVED OR DISAPPROVED OF THESE SECURITIES OR PASSED UPON THE
ADEQUACY OR ACCURACY OF THIS PROSPECTUS. ANY REPRESENTATION TO THE CONTRARY IS A
CRIMINAL OFFENSE.
This prospectus is dated December 28, 2007
Under the heading "Selling Security Holders", this prospectus adds the
following sentence immediately after the first sentence of the fourth paragraph:
"At issuance, the initial principal payment date of the debentures was
January 1, 2008. The initial principal payment date was extended to April 1,
2008, pursuant to the First Amendment Agreement entered into among Electronic
Sensor Technology, Midsummer and Islandia on December 27, 2007."
Under the heading "Certain Relationships and Related Transactions", this
prospectus adds the following text immediately preceding the text "Forbearance
and Amendment Agreement with Midsummer Investment, Ltd. and Islandia, L.P.":
"First Amendment Agreement with Midsummer Investment, Ltd. and Islandia, L.P.
On December 27, 2007, Electronic Sensor Technology entered into a First
Amendment Agreement with Midsummer and Islandia, which provides for certain
amendments to the debentures issued to Midsummer and Islandia on December 7,
2005 and under the related securities purchase agreement, registration rights
agreement and forbearance and amendment agreement, more fully described below.
Pursuant to the First Amendment Agreement, Midsummer and Islandia agreed to
extend the initial principal payment date of the convertible debentures from
January 1, 2008 to April 1, 2008."
Z-NOSE~are you factoring in the distributor's cut in the total sales?
Replacing the old distributors in Europe is a fantastic move by Barry Howe. Brechbuler AG has a very succesfull history. I know that they will move products. The question how many units will they sell?
I noted the 6 unit sale @ approximately $30k each
Let us not forget the agreement for 55 units from China. That would estimate at about $2,000,000's. That is a great start to the new year.
Even IF they got the full $30k (estimated) then the total "might" be 1.65M which is shy of your $2M comment.... and I would suspect they are not getting $30K if you factor in the cut to their "partners" abroad.
Can you elaborate as to your $2M comment and what you guess the distributor's cut might be?
tia
I own a few shares and seeing their SEC filings I am wondering why lol
GL
kp
Sonny or anyone who can answer my Q... "HSIA" stands for?
Sorry if a stupid Q but beyond a WAG I am at a loss for what it stands for exactly (groan lol)
A preferred vendor for Destination Hotels & Resorts, EthoStream is contracted to provide wired and wireless HSIA solutions at each location, supported by its 24/7 managed guest support service, for a three-year period
...
EthoStream provides Destination Hotels & Resorts with a unique combination of an advanced integrated HSIA system and unmatched, proactive customer support. A key factor in the selection was EthoStream’s Remote Management Console (RMC), which provides a platform for monitoring and managing the HSIA system remotely in real time
...
each hotel and resort is responsible for its own HSIA contracting, applying its individual selection criteria
...
Operating one of the largest HSIA networks in the US, EthoStream is a preferred or endorsed provider for many of the world's largest and most prestigious hotel franchises. At the core of EthoStream’s advanced solution is its turnkey, standards-compliant line of gateways. Designed to ensure ease of integration with any type of Wide Area Network (WAN) connection, EthoStream provides a high quality, flexible solution set that supports both wired and wireless access, underpinned by a comprehensive range of customer support services. In addition to the RMC monitoring and management platform, EthoStream also provides a 24/7 guest support service via its Hospitality Network, enabling each member establishment to provide guests with immediate, expert advice on any Internet-related issue
TIA
kp
Mickey~thanks for posting that bit of optimism from Murphy...
curious, perhaps you can help a newbee understand this comment;
changed CEOs, and now we will see what this technology can really do. The new 32-year-old CEO is a successful entrepreneur and a hard-driving manager, and the troops have to be thrilled that they are once again a real contender
What did the former CEO do that limited this *technology*?
A "real contender" rallying the troops? hmmmm, Murphy, I think, must be an acquired taste.
I would prefer Murphy to take apart the business model and substantiate by explaining WHY he believes; "Buy TKO up to $5 for my stubbornly unchanged $15 target
I mean, the government is not well known IMO for win/win programs ("I expect world-class results from TKO in 2008, including major new government program wins for their Broadband over Power Line technology")
Does anyone here know what TKO has/is doing re *in the pipeline* to the Government?
I expected a little better reaction to the PR re "Wins $3.8 Million Energy Management Contract with InTown Suites -Dec. 21, 2007. In view of the share price retracing since, how can ANYONE suggest buying a $.87 stock "up to $5 with a stubbornly unchanged $15 target" ...seems Murphy is really reaching here IMO with the current *knowns* and the market's reaction to positive news, no?
Does anyone here think the IP alone justifies Murphy's target?
TIA
best!
kp
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
Telkonet Wins $3.8 Million Energy Management Contract with InTown Suites
10:15a ET December 21, 2007 (Business Wire)
Telkonet, Inc. (AMEX:TKO), the leading technology solutions provider for broadband networking, end-to-end service support and energy management, announces that it has been awarded a $3.8 million dollar contract by InTown Suites for the intelligent Telkonet SmartEnergy(TM) (TSE) energy management system. Under the contract, Telkonet will install TSE products in one hundred and twenty-five InTown Suites locations across the US, as an integral component in the organization's ongoing commitment to achieving increased energy efficiencies at their properties. Commencing in January 2008, Telkonet will begin an aggressive implementation of the scheduled installations to ensure completion of this initiative within a six-month timeframe.
Telkonet was selected after exhaustive trial property implementations, involving comprehensive testing and competitor analysis. TSE consistently delivered the best performance, with TSE's patented Recovery Time(TM) (RT) technology representing a clear differentiator, as a spokesperson from InTown Suites explains, "Telkonet has demonstrated its commitment to InTown Suites throughout the pilot program and has successfully delivered a product that will help us realize substantial energy efficiencies and cost savings as a part of our overall energy management initiative. TSE's design flexibility was a further factor in the contract award, with its existing capability to operate with the cross-section of packaged terminal air conditioners (PTAC) already installed in InTown Suites' locations."
Telkonet's Executive Vice President of Energy Management, Jeff Sobieski, highlighted the strategic thinking about TSE, explaining, "We are seeing a substantial increase in the number of green initiatives in the extended-stay marketplace, and the emphasis is very much on achieving increased ROI due to rising energy costs. With TSE, we have evolved an exciting technology that has unlocked a powerful new cost-saving avenue for extended-stay facilities, with a substantial impact on the bottom line. We are committed to Recovery Time technology and the continued enhancement of our TSE product line for the extended-stay market as well as expanding into new verticals."
An advanced energy management system, TSE provides an economic, green approach to controlling HVAC usage and improving energy efficiency. TSE delivers a rapid return on investment, typically achieving savings around 30%. The system uses a combination of occupancy sensors, along with intelligent programmable thermostats or PTAC controllers, to adjust and maintain a room's temperature according to occupancy, eliminating wasteful heating and cooling of unoccupied rooms. This savings is accomplished without compromise to occupant comfort, with our RT technology breaking new ground compared with typical fixed-setback systems. With these systems, the setback temperature is often set to one fixed amount in all rooms, regardless of the guest setpoint, external weather conditions or recovery time. With TSE, each room's temperature is kept adjusted based on these external factors, to calculate how far it can drift from an occupant's preferred setting when they leave the room, so it will return to that setting within minutes upon their return.
About InTown Suites
InTown Suites is the leader in economy Extended Stay Living. The company started in Atlanta, GA in 1989 with just a few properties. Since that time, it has grown to 137 locations in 21 states with over 17,500 rooms and employing over 1200 people.
InTown is committed to the environment and green business practices. In 2005, InTown completed an aggressive campaign to replace its existing incandescent bulbs with compact fluorescent bulbs in the vast majority of fixtures. The company also installed numerous water saving devices in all guest rooms. Moreover, InTown purchases only appliances with the highest Energy Efficiency Ratings. InTown management stated: "We are convinced that these measures, along with the addition of the TSE system, is not only good for the environment, but is a sound financial decision as well."
You can visit InTown Suites at http://www.intownsuites.com/
The new President seems to "call 'em like he sees 'em"... from pg 6 of his annual presentation;
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
2007 Lowlights
Shareholder Communication
Acquisition Integration Difficulties
Product Development Cycle Delays
Sales Alignment Issues
Government Schedule and Execution Delays
Strategic Partnership Timelines
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
best! & Mele Kalikimaka
kp
imshredin2~do you think providing the $ value is because of the management changes?
the $3.8 million contract announcement was right on time. The refreshing part is they actually put a revenue number on it. Remember how much it sucked when they would PR all this stuff that was going to happen and never put a number on it ? We were left to try to figure out if it was worth anything or just smoke
I thought they might recover some today based on that news but not the case!
Looks like we got our double bottom
TKO Bid: 0.84 Ask: 1.03 Last: 0.8901 ($): -0.0799 Vol: 737,910
...seems I forgot they had their annual meeting today. You can link to their PDF presentation from; http://www.telkonet.com/ir.html
Telkonet Annual Shareholder Meeting Presentation
December 21, 2007
(or try the direct link, http://tinyurl.com/2ne5kt)
I'm guessing it wasn't so good but am only now starting to read it.
Agenda
Telkonet Timeline
2007 Overview
Corporate Introduction
–Executive Management Team
–Corporate Vision
–Corporate Commitment
Competitive Advantage
2008 Planning
–Executive
–Financial
–Research &
Development
–Sales
Next Steps
Don't they normally conduct conference calls in audio formats?
Happy Holidaze <g>
kp
bepop12345~yeah, I caught that too! ...almost fell off my chair when he said he told his Dad that they might be "pumping mud" LOL
Glad they eventually hit *oil* <g> ... have you been following long enough to remember the "auto taser"? That was before my time. Pursuing Police & Military users was a stroke of genius in retrospect, no?
until, that is, you get press like this one...
#msg-25397949
(Police accused of firing Taser into head of innocent man)
Best of the Season....
kp
Tim~thanks for bringing this back to my attention! I have been wasting time on the SWHC board with a poster that appears not to be interested in fundamentals <g> and a pleasure to see your thought processes...
It doesn't appear they have too much exposure to licensing costs with SWHC and hopefully SWHC hasn't diminished any brand goodwill AID was trying to benefit from with their new lines.
Personally think your profit hopes & sales figures *might be* too high but you make a good case;
This quarter- they have announced almost 1mil sales with one product- the GPS tracking system. They also have a good launch on the "graffiti cam", and multiple orders for the S&W UVIS since Oct 07. So, I'm expecting a surprise profit report on the next quarterly with revenue around 2mil. But, we won't see that until Mar or April (annual report). By then a lot could change
Agreed that a completed deal with Raymond James could be a catalyst but what I thought you last posted only indicated that deal had not been finalized. If they can state by 2/08 then all appears fine IMO with that deal.
The annual meeting is in a few days- and I would bet a rep from Raymond James will be there. IR told me they should conclude their deal in Feb 07- and become the majority holder. I think they will force this company to take action and build shareholder value. Maybe we get new management, or at least some new board members
Well, one can wish <g>
I did notice that R&D expenses went up slightly- so could be the proto type stun gun is back in the works, since it was mentioned in the proxy report they mailed out (one paragraph)
I hope you are not still placing too much faith in their TASR like competing product line... reading between the lines over and over I can not see that happening in our life times lol
Anyway- pure speculation, but should be back in the .70s for a january effect move at the least, imo
Think you are correct! I think I might join you on any dips below .60
started accumulating again at .65 and under
AID Bid: 0.02 Ask: 8,000.00 Last: 0.6499 ($): 0.0899 Vol: 27,921
Guess I will have to wait until you have stopped buying.... that volume must have been your adding <gg>
GL and TA
kp
xpat~I was expecting "more"...all you said, "there is nothing in the 10Q that warrants the stock trading at the current levels imo" ... maybe I should have asked IF YOU read the 10Q?
It seems you're fond of asking people if they've read the 10Q. Please answer your own question; Have you read the 10Q yourself or making your decisions on the number of stars Motley gives a stock
Obviously, I have so I know at least one of us has lol
All I needed to know is of what importance you place on the 10Q and I think you answered that! That you couldn't list ONE item you felt you didn't like sort of sez it all, no?
GL with your bottom fishing and hope you don't catch the wrong end of the falling knife...
kp
Class Action Lawsuit Against Smith&Wesson Holding Corp.
Schatz Nobel Izard P.C. Announces Class Action Lawsuit Against Smith & Wesson Holding Corp.
7:13p ET December 13, 2007 (PrimeNewswire)
The law firm of Schatz Nobel Izard P.C., which has significant experience representing investors in prosecuting claims of securities fraud, announces that a lawsuit seeking class action status has been filed in the United States District Court for the District of Massachusetts on behalf of all persons who purchased the common stock of Smith & Wesson Holding Corp. ("Smith & Wesson" or the "Company") (Nasdaq:SWHC) between June 15, 2007 and December 6, 2007 (the "Class Period").
The Complaint charges that Smith & Wesson and certain of its officers and directors violated federal securities laws. Specifically, during the Class Period, defendants failed to disclose and misrepresented the following: (i) that the market for various lines of the Company's gun products was saturated with inventory which was causing customers to reduce orders and postpone purchases; and (ii) that the Company's reported sales figures did not represent true growth for the Company's products but rather were simply inventory stocking transactions and as customer inventory levels increased, the Company's sales would suffer.
On October 29, 2007, Smith & Wesson issued a press release announcing its preliminary second quarter financial results for the period ending October 31, 2007. Among other things, the Company reduced its earnings guidance for fiscal 2008 to $23.5 million, or $0.53 per share, as compared to $28.5 million, or $0.63 per share. In response to this announcement, the price of Smith & Wesson common stock plummeted from $20.09 per share to $12.12 per share. Then, on December 6, 2007, Smith & Wesson issued a press release announcing its financial results for its second fiscal quarter and again reduced its outlook for 2008 to $0.40 per share. On this news, on December 7, 2007, the price of Smith & Wesson stock fell from $9.92 per share to $7.08 per share.
If you are a member of the class, you may, no later than February 11, 2008, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a class member that acts on behalf of other class members in directing the litigation. Although your ability to share in any recovery is not affected by the decision whether or not to seek appointment as a lead plaintiff, lead plaintiffs make important decisions which could affect the overall recovery for class members, including decisions concerning settlement. The securities laws require the Court to consider the class member(s) with the largest financial interest as presumptively the most adequate lead plaintiff(s).
While Schatz Nobel Izard P.C. has not filed a lawsuit against the defendants, to view a copy of the Complaint initiating the class action or for more information about the case, class action cases in general, and your rights, please contact Schatz Nobel Izard P.C. toll-free at (800) 797-5499, or by e-mail at firm@snilaw.com, or visit our website: www.snilaw.com.
This news release was distributed by PrimeNewswire, www.primenewswire.com
SOURCE: Schatz Nobel Izard, P.C.
xpat~I was expecting "more" ... after all you said;
2nd Motley Article Featuring SWHC: 5 Stocks Even the Skeptics Like By Rich Duprey December 18, 2007
I copied the whole article to follow but wanted to comment first and ask you a question...
IMhO this "article featuring" SWHC felt more like a pitch for MF services! Having a one line entry in a Table of 5 stocks that in the case of SWHC was recommended by a "3" star (***) rated member doesn't cut it in my book... I mean that was IT?
Following the Table was this "disclaimer";
The stocks above are not automatic buys. Just as a list of their worst stocks would not be a list of stocks to short, this list of favorites requires a little more thinking and drilling down into the financial statements than that. But it's a place to start.
My question for you... after you read their 10Q what did you find that you didn't like?
TIA
best!
kp
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
The Motley Fool
5 Stocks Even the Skeptics Like
http://tinyurl.com/3xjh42
Rich Duprey
December 18, 2007
When it comes to investing in the stock market, it pays to be skeptical. Not only should you not believe everything the analysts tell you, but you often have to discount what the companies are telling you, too.
Going against the crowd can pay off handsomely. Some of the market's legendary investors have been contrarians: Benjamin Graham, Warren Buffett, John Neff, and Marty Whitman. Like baseball's greatest place hitter, "Wee Willie" Keeler, contrarians "hit 'em where they ain't."
When the crowd abhors a stock, a contrarian wants to look more closely at it. Similarly, when the masses crowd into one, the skeptical thinker believes it's time to move on.
A new breed of contrarian
Today, I'm looking at a new breed of contrarian, the Motley Fool CAPS "skeptic." Skeptics don't think like most investors. They're willing to see the downside potential of a stock, as well as the upside. CAPS skeptics have rated more stocks as underperforming the market than outperforming it. They're contrarian in that they find more downside potential than upside, but being a top-rated CAPS player means they're right far more often than not, and when they mark a stock to outperform, perhaps we ought to take notice.
Here are some recent outperform picks from five Foolish CAPS skeptics:
Company CAPS Rating Skeptic Player Rating
Dendreon (Nasdaq: DNDN)
**
luvb2b
100.00
ION Geophysical (NYSE: IO)
****
TDRH
100.00
Smith & Wesson (Nasdaq: SWHC) *** StatsGeek 99.99
Chemical & Mining Co. of Chile (NYSE: SQM)
*****
TheGreatSatan
99.99
ONEOK (NYSE: OKE)
****
nicvo
99.98
Source: Motley Fool CAPS.
The stocks above are not automatic buys. Just as a list of their worst stocks would not be a list of stocks to short, this list of favorites requires a little more thinking and drilling down into the financial statements than that. But it's a place to start.
Denying Dendreon
This biotech has been floating on the winds of change in the fate of its Provenge prostate cancer treatment. Earlier this year, the Food and Drug Administration gave it an approvable letter which denied its immunotherapy until Dendreon established more proof of its effectiveness. Then it was found that two of the four doctors who voted against approval had undisclosed financial ties to other drug companies. A recent request for an inquiry into their alleged conflicts of interest has caused a bit of a stir amongst Dendreon partisans.
In this pitch, luvb2b points not only to the investigation of the scientists as reason for having hope, but analyst support for the drug's effectiveness.
David Miller (biotech analyst) has said that he believes there is no doubt Provenge works. While all the other data is clouded it does seem the survival data is clear. With the investigation of the FDA panel announced today seems like a good speculative pick ahead of interim data analysis of their large phase 3 trial early next year.
Yet another All-Star looking at Dendreon, fogman24, says he thinks the Provenge issues make it too risky. Relying upon the kindness of strangers never did much for Blanche DuBois, and hoping that the FDA or someone else will come along and give it a boost might be too speculative.
After seeing what can happen to a biotech that hits an FDA road block ([Encysive Pharmaceuticals] anyone?) I've gotta underperform this baby. No near term catalyst or drug coming up the pipeline, years away from MAYBE getting their cancer drug approved, and no products. That leaves nothing holding up the stock price but a whole lot of [people's hopes] and dreams, with inevitable rounds of dilution to keep DNDN afloat. Which will eventually bring the share price down ... but who really knows how long it's going to take before they get the green light by the FDA. As far as I'm concerned, ... it's still a crap [shoot] with the FDA. Just my 2 cents, the FDA drives me nuts!.
Seeing past the obvious
The debate between the bulls and the bears is indeed intense, yet contrarians try to see past the headlines. They know that just beyond the storm clouds lies a shimmering morning. Conversely, the sun can't shine forever, though the crowds may think the green grass and blue skies go on and on. In the meantime, drop by CAPS and tell us which stocks are your favorite contrarian picks.
Tim~tftr(EGR)~checking them now... never had that happen before using my normal two sites for filings... wonder how that happened that they wouldn't have current filings listed... now I can start the 10K/Q processes
TA
kp
Tim~kitco~tftr (re: metals)...an eye opener! Do they do these weekly?
http://www.kitco.com/reports/metals_dec042007.pdf
LMC Bid: 9.09 Ask: 9.10 Last: 9.10 ($): -0.03 Vol: 1,069,600
best!
kp
Tim~EGR~where can I get their filings?
There are no SEC filings available for Commerce Energy Group Inc
Knobias, another source, only lists 2002 and older...
I haven't tried Edgar yet... curious as to what you use for their filings?
tia
kp
MikeS97707~SHPI.ob~tftr~8k was pretty clear on the impact imo... and Tyco seems to be taking it in stride?
COV Bid: 43.92 Ask: 43.93 Last: 43.92 ($): +0.58 Vol: 3,614,883
GL
kp
New Zealand TASER X26 Deployment Praised by Defense Lawyer
7:30a ET December 14, 2007 (PrimeNewswire)
TASER International, Inc. (Nasdaq:TASR), a market leader in advanced electronic control devices released the following News Alert:
According to Radio New Zealand News and TVNZ, "A defense lawyer has taken the unusual step of praising the police use of a TASER(r) (Electronic Control Device) on his client, who stabbed his three young children.
"Fa'amanu Milford, 30, was sentenced to prison on Wednesday for a total of 15 years after pleading guilty to three charges of injuring his children with intent to cause grievous bodily harm and one charge of kidnapping his former partner.
"Lawyer Greg King told the Lower Hutt District Court that at the time Milford was out of control and the police did the right thing in using the weapon.
"Detective Senior Sergeant Ross Levy says using other tactics could have proved fatal or insufficient to stop Milford.
"The children were aged three years, 18 months and eight weeks. The baby had stab wounds to his stomach while the older infant had a punctured lung.
"Wellington Hospital said at the time that the children suffered many stab wounds in the attack. All underwent emergency surgery that saved their lives."
The complete articles are available at:
http://www.radionz.co.nz/news/latest/200712130920/taser_use_on_father_who_stabbed_children_praised_by_lawyer and http://tvnz.co.nz/view/page/423466/1502428
TASER International, Inc. disclaims any responsibility for the accuracy of the media reports that are the sole responsibility of the attributed media source.
For more information on protecting life with TASER technology, please visit: www.TASER.com.
The TASER International logo is available at http://www.primenewswire.com/newsroom/prs/?pkgid=2931
This news release was distributed by PrimeNewswire, www.primenewswire.com
SOURCE: TASER International, Inc.
IEEE Spectrum Cover Features Series of Articles On TASER Devices; 7:30a ET December 13, 2007 (PrimeNewswire)
TASER International, Inc. (Nasdaq:TASR), a market leader in advanced electronic control devices, released the following News Alert:
The December 2007 issue of the IEEE Spectrum, the flagship publication of the world's largest professional technology association, features on its cover a series of articles probing some of the issues fueling the ongoing debate over the safety of TASER devices.
In "How a Taser Works," author Sandra Upson provides important background information regarding the ongoing debate over the safety and appropriateness of TASER electronic control devices (ECDs). She introduces the other two articles as investigating the "physiological effects of electric shock."
In the article "Crafting the Perfect Shock," Dr. Mark K. Kroll opens with, "You know an engineering problem is difficult when the prevailing technology dates back to the Stone Age. Let's face it, the police officer's baton is barely more sophisticated than a cave dweller's club, and with it comes all the same crudeness." Dr. Kroll's article explains the scientific principles behind TASER devices and how they affect human physiology.
Dr. Patrick Tchou, in his article "Finding the Edge of Heart Safety," discusses his investigations into whether shocks from a TASER device can cause serious damage to a heart's normal function.
According to Dr. Tchou, "the most important question regarding the safety of Tasers is how likely it is that the use of one will induce ventricular fibrillation. Because the standard Taser output proved on average to be one-fourth what was needed to cause fibrillation, one is tempted to conclude that the device is fundamentally safe. But there's another factor to keep in mind: a large portion of the violent individuals with whom the police have to deal are under the influence of cocaine, methamphetamine, or other stimulants. So the Taser has to be safe even for those whose physiology is distorted by the presence of such powerful drugs. Cocaine in particular is a concern with respect to cardiac complications because it raises heart rate and blood pressure and significantly increases the risk of a heart attack even without any kind of shock.
"My colleagues and I supposed that the presence of such drugs would increase the potential for cardiac arrhythmias, and we later tested this hypothesis in a separate study, published in the Journal of the American College of Cardiology. To our surprise, the amount of current needed to bring on ventricular fibrillation didn't go down; indeed, it increased significantly when the pigs were administered cocaine. After some thought, we realized that our initially puzzling findings were not entirely out of line, because cocaine has certain anesthetic properties that can affect the electrical behavior of the heart in ways that protect it against shocks and decrease its vulnerability to fibrillation. Applying enough voltage to a heart cell will open its sodium-ion channels and start the contraction machinery, but cocaine stops up the voltage-activated sodium channels, making it more difficult for electricity to trigger a muscle contraction."
According to Dr. Tchou, "we were comforted to learn that stun guns do not normally pose any cardiac risk."
The IEEE Spectrum notes that Mark W. Kroll is an IEEE senior member who holds more than 250 U.S. patents as an inventor of electrical medical devices. He sits on the board of TASER International. Patrick Tchou is a cardiologist who specializes in treating cardiac rhythm disturbances at the Cleveland Clinic, a leading research hospital in Ohio and America's top rated heart hospital for the past 12 years.
The complete articles are available at: http://www.spectrum.ieee.org/dec07/5731