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razor2005 - At the time of that spike, the most current published share count was c. 8 billion.
magoohi - As of 12/31 there were 16 billion shares out.
http://sec.freeedgar.com/displayText.asp?ID=4976080
Current share count is unknowable, as RA has gagged the transfer agent.
cruzdelsur - Nope. Are you aware of the $20 million+ court judgment against USXP?
There is no "they" to do the forgiving as there is no board of directors. RA is forgiving the "loan" to himself.
Re Univ Jet, from the most recent 10Q:
These notes are from previous acquisitions of Universal Jet Aviation and Bags To Go. These acquisitions were resold immediately to the former owners within the same acquisition period.
http://sec.freeedgar.com/displayHTML.asp?ID=5057325
I suspect RA is well aware that buyers of USXP and similar stocks only read press releases, not SEC filings.
Aren't you worried the news will include the recent $20million+ securities fraud judgment against USXP, RA, and Gundy?
re: 2) USXP will be a part of the national news for quite some time.
3) Millions of dollars in free publicity
RA lies about share buybacks.
USXP To Repurchase Some of Its Outstanding Common Stock
Business Wire, April 21, 1999
http://findarticles.com/p/articles/mi_m0EIN/is_1999_April_21/ai_54435565
Universal Express, Inc. to Repurchase Some of Its Outstanding Common Stock
Business Wire, August 21, 2001
http://findarticles.com/p/articles/mi_m0EIN/is_2001_August_21/ai_77352471
Both of those PRs were BS.
jking, The 15+ billion illegal shares issued and dumped since March 2004 could be the basis for another suit, if the SEC feels like it, but they'll probably let the DOJ take it from here.
RA admitted to issuing unregistered shares which were then sold into the float.
That, by itself, is enough for a finding of fraud. The bogus PRs are icing on the scam cake.
O/S was 16 billion as of a few months ago.
http://sec.freeedgar.com/displayText.asp?ID=4976080
The current amount is anybody's guess.
re: what is the O/S of this company
By the $450 dollars it adds to the value of your brokerage account.
DavidGali -
To expose penny paper mills and the dishonest people who would profit from them.
re: "what is your purpose?"
bottomfeederxx - That was immediately thrown out.
re: I wish I had more info on the USXP V. SEC case you are referring to.
The judge found Universal Express, CEO Richard Altomare and corporate counsel Chris Gunderson sold unregistered securities and fraudulently issued misleading press releases that inflated the value of those securities.
That is theft by fraud, whether the victim admits it or not.
Good news! Civil justice finally comes to USXP and its perps.
Now it's time for criminal indictments. Securities fraud is a felony.
That should send them into bankruptcy. The monetary penalties exceed the market cap. It's about time!
Where are the required 8K filings for those acquisitions you think were true?
How about ANS, Jackson collection, oil and gas, 9000 member stores, saudi funding, dubai funding, transamerica funding, universal jet, NAA, share buy back, donations to 911 victims, etc, and most recently:
Universal Express, Inc. CEO Richard Altomare announced a "blockbuster" speech he will deliver on April 3rd.
http://biz.yahoo.com/iw/070323/0230159.html
Shame on you for supporting a proven liar and securities fraudster.
The record shows I don't lie and have never been wrong about a penny stock.
The record shows RA lies frequentily.
Find some funding and acquistion PRs which didn't turn out to have been false.
What about the speech RA said he'd be delivering today? Could he have lied again?
Because I dislike scams and scammers.
Because I don't lie. My posting record proves it.
re: Tell me, why should anyone believe you?
So where's that "blockbuster speech" Altomare said he would deliver today?
RA's history of prevarication is such that it's inadvisable to believe a word he says.
Where's that "blockbuster speech" he said he would be delivering today?
ROFL!
re: Altomare said
It's the 3rd amendment of a prior 10K.
A recent filing by one of the defendants revealed a criminal investion by the DOJ is under way.
What on earth are you talking about?
Check out today's fluffbomb. What a waste of company funds!
RA just *said* be bought it, same as always.
ROFL! Yeah, sure.
re: "he had perfectly viable answers to all questions"
Find some press releases about acquisitions or funding which did not turn out to have been false and misleading. Where's the Dubai money?
The press releases claiming funding which didn't happen, acquisitions which hadn't happened, 9000 member stores which weren't members at all. Find some truthful PRs - it's a shorter list.
You apparently have not even bothered to read the court filings.
Do you deny RA issued false and misleading press releases?
The judge has not yet issued the order of remedies.
What basis for appeal do you think RA has?
Appeals must have a basis in law. Being unhappy with a ruling doesn't cut it.
The appellant must show the judge committed a reversable legal error.
No, and it is doubtful an appellate court would even take the case.
Latest from court - 03/14/2007 177 ORDER
on 3/8/07, defendants Universal Express, Altomare, and Gunderson filed a motion for reconsideration of this Court's decision denying them summary judgment and instead granting summary judgment to plaintiff. As the motion merely repeats arguments that were fully considered and rejected by the Court in its 2/21/07, opinion addressing summary judgment, the motion is denied. So Ordered. (Signed by Judge Gerard E. Lynch on 3/13/07) (jco) (Entered: 03/15/2007)
Dilution is the raison d'etre of USXP.
Beware the Ides of March
No, *this* is how they warned the clueless:
http://www.sec.gov/litigation/litreleases/lr18636.htm
U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 18636 / March 24, 2004
SEC v. Universal Express, Inc., Richard A. Altomare, Chris G. Gunderson, Mark S. Neuhaus, George J. Sandhu, Spiga Limited, Tarun Mendiratta, 04 CV 02322, (GEL) (S.D.N.Y.)
Today, the Securities and Exchange Commission (the "Commission") filed a complaint seeking a temporary restraining order ("TRO") and other emergency relief against Universal Express, Inc. ("Universal"), its chief executive officer Richard Altomare, and others involved in an illegal distribution of Universal common stock to the public. The Commission alleges that from April 2001 through the present, Universal has issued more than 500 million shares of stock for distribution to the public, issued a series of false press releases regarding funding commitments for the company, and made other false and misleading statements about its business.
The Commission alleges that Universal, Altomare, and Universal's counsel Chris G. Gunderson, Jr., distributed stock through Mark Neuhaus, George Sandhu, Spiga Limited, and Tarun Mendiratta (collectively, the "Resellers") purportedly as consultants to the company. According to the Complaint, the Resellers paid Universal in excess of $9.1 million for the stock, resold the shares to the public for a quick risk-free profit, and then used the proceeds to finance their subsequent share purchases in the ongoing scheme to distribute the shares into the public market. The Complaint further alleges that as the dilutive issuances weighed on Universal Express' stock price, Altomare issued a series of false press releases from May 2002 to April 2003 announcing funding commitments for a total of $885 million and thereafter made other false statements in public interviews, press releases, and Universal Express' filings with the Commission. The Commission further alleges that, following the illegal sales to the Resellers, Altomare diverted a substantial portion of the proceeds to family members and personal accounts.
The Commission's action seeks a temporary restraining order and order for accounting against Universal, Altomare, and Gunderson for the ongoing securities registration violations. The Commission is also seeking preliminary injunctive relief against all defendants. The Commission's action alleged that Universal, Altomare, Gunderson, Neuhaus, and Sandhu violated 17(a) of the Securities Act of 1933 and Section 10(b) of the Exchange Act and Rule 10b-5 thereunder; that Universal, Altomare, Gunderson, and each of the Resellers violated Sections 5(a) and 5(c) of the Securities Act; that Universal violated Section 13(a) and 13(b)(2) of the Exchange Act and Rules 12b-20, 13a-1, and 13a-13 thereunder; that Altomare and Gunderson aided and abetted such violations; that Altomare and Gunderson violated Section 13(b)(5) of the Exchange Act and Rule 13b2-1 thereunder; and that Altomare violated Rules 13a-14 and 13b2-2 under the Exchange Act.
The naked short cultisits ignored it, of course.
SEC can only suspend trading briefly, not halt it. NSS is not an issue with USXP. RA lied about that just like almost everything else.
Excerpts from the Judge's ruling.
Summary judgment for the SEC is also clearly warranted on the claim that the
Organizational Defendants violated antifraud provisions of the federal securities law. These
defendants do not dispute that they created and issued press releases publicly announcing
hundreds of millions of dollars in financing commitments and heralding acquisitions of other
companies. Nor do they dispute that these statements were, as the SEC demonstrates
(see citations to record at P. R. 56.1 Stmt. against Organizational Ds. ¶¶ 91-156), at best
misleading and sometimes wholly fantastical.
...
Defendants provide no reason to think they would be able to rescue these unsupported
assertions from seeming flatly ludicrous if permitted to go to trial. Therefore, summary
judgment as to the Organizational Defendants’ liability for securities fraud is granted the SEC.
...
They committed these violations deliberately or at
least recklessly and on repeated occasions; they not only deny culpability but do so with
incredible and contorted arguments; and as the present CEO and general counsel to Universal
Express, Altomare and Gunderson remain in a position to commit possible violations in the
future. For these reasons, a permanent injunction is appropriate.
...
As CEO of a publicly held company, Altomare occupied and continues to occupy a
position of significant power, which he abused by repeatedly and brazenly committing fraud and
flouting investor-protecting registration requirements. He has not only opposed the SEC’s
request for summary judgment without pointing to a single piece of evidence sufficient to create
a genuine issue as to any material fact of his liability, but he has also had the chutzpah on an
overwhelming unfavorable record to seek summary judgment himself. The defendant’s
professional position and apparent refusal to acknowledge the types of conduct that violate
securities laws raise serious concerns that he will engage in such misconduct in the future.
...
Buy some more USXP, then. The more you lose the more you'll learn.
USXP is on track to oblivion. You obviously haven't read the judge's ruling.
ROFL - You're 180 degrees off. I've never been wrong about a penny stock. I called this one a scam years ago, and the judge just proved me right.