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Bad news over the weekend? The trading so far today is implying that.
Selling on the bid again today. I put a bid in at .06 in case there's a big flush.
Someone selling on the bid today. If .14 doesn't hold, I would think they are having problems discharging the lawsuit.
Those 8 million plus shares aren't restricted. Here is the full e-mail update he sent out on 4/27/12.
intk--- getting closer to being the best pf breed--needs a little more window dressing i bought 475,000 this week and have over 8 million free trading
In his 4/27 updat he said he bought 475,000 shares that week and had over 8 million FREE trading shares. It could easily be him.
Has to be iceman dumping. Ever since he pumped it on 4/27, it's been all down hill and he hasn't had an update since. This company must have absolutely nothing and I wouldn't touch it with a 10 foot pole.
The iceman said in his 4/27 e-mail that he had over 8 million FREE trading shares. That means they aren't restricted and he can sell at any time.
Whether he sold or not, I can't say for sure, but it would not surprise me if he did. He trades like a maniac and might be looking to buy back INTK cheaper, before he pumps it again.
Could be iceman selling his 8 million free trading shares and he did have that many free trading shares. Below is what he e-mailed on 4/27/12.
intk--- getting closer to being the best pf breed--needs a little more window dressing i bought 475,000 this week and have over 8 million free trading
The 10Q said 1 million. Where does it say 8 million????? I don't see the number 8 mentioned anywhere in the 10Q. Celtics, I've never seen anyone on investorshub post as many lies as you and state them as facts. You should be banned from investorshub.
Also, I only post under ueleaouk and none of the screen names you falsely accuse me of. I will bet you 100,000 dollars I don't post under any of the screen names you say I do. Put your money where your mouth is!
10Q says Garcia and other former concession owners are owed 1 million if certain events occured, not the 8 million like Celtics stated as fact, lol! Read it on page 12.
http://www.sec.gov/Archives/edgar/data/1286181/000107997312000301/uspm_10q-022912.htm
. COMMITMENTS AND CONTINGENCIES
On May 24, 2011, we settled a lawsuit we brought against our former attorneys, alleging improper fee billing. Under the terms of the settlement, the outstanding balance due to the attorneys was reduced by $412,949 and we agreed to pay the remaining balance of $1,614,216 in four equal installments commencing May 24, 2012, subject to other terms.
On April 3, 2012, our Mexican subsidiary company, US Precious Metals SA de CV, was served with a lawsuit under case number 293/2012 in Mexico City, Federal District Court by Mr. Israel Tentory Garcia (“the Plaintiff”) regarding one of our mining concessions.
During 2003, we acquired from eight private individuals, including the Plaintiff, an exploration concession to acquire 174.54 hectares. Pursuant to this Assignment Agreement (‘the Agreement”), we paid the former holders 1.5 million shares of our common stock. The Agreement further provided for the payment of $1 million to the former holders upon the occurrence of certain conditions. In his lawsuit, the Plaintiff alleges that the payment was due and payable on or about 2009 and ownership of the mining concession should revert back to him.
We have retained counsel in Mexico to represent our subsidiary in this matter. We strongly dispute the allegations raised in the lawsuit and intend to vigorously defend the lawsuit. We intend to file our answer to the complaint on or before April 25, 2012 pursuant to which we will allege numerous defects in both fact and law and will seek dismissal of the action.
While we remain firm in our legal position, we have nonetheless conducted preliminary discussions with the Plaintiff in an effort to settle this matter. At the time of this filing, these discussions are ongoing. There can be no guarantee that we will be able to arrive at a settlement with the Plaintiff that is acceptable to us.
While we will vigorously defend the lawsuit, we cannot predict the likely outcome of this litigation in the Mexican judicial system. If we are unable to prevail in this matter and the Plaintiff is found to be entitled to the reversion of the concession, such event would have a material adverse impact on us and our plans for this concession.
Is Iceman today's big dumper? He has 8 million free trading shares. INTK is dying like all of his other penny pump stocks.
Looks like a deal has leaked. Anyone hearing anything?
I have no idea, but it's never good when the accounting firm resigns.
YIKES, PROT's accounting firm just quit. I think you can put the nail in the coffin with this one, unless they hire Bernie Madoff to cook the books for a few quarters to enable longs to escape with less of a loss. Wow, another one bites the dust.
The Sage ripped people off is what happened and I doubt anyone will buy another penny stock pump of his again. If they do, they have chit for brains. This has to be the worst pump and dump fraud I have ever seen in my life and they are still dumping today. Hopefully the SEC catches up with this scamster soon and puts him behind bars, where he can't fleece more unsuspecting investors.
Links to 2 good posts explaining why MITK is suing USAA. IMO, there will either be a beneficial settlement to MITK or MITK will win big in a lawsuit.
http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_M/threadview?m=mm&bn=11686&tid=23701&mid=23701&tof=2&frt=2
http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_M/threadview?m=mm&bn=11686&tid=23701&mid=23702&tof=1&frt=2
It appears the USAA lawsuit against MITK is without merit. IMO, USAA will either drop the lawsuit or lose in court. I hope MITK sues USAA for a couple billion.
http://finance.yahoo.com/news/mitek-systems-responds-usaa-lawsuit-120000128.html
SAN DIEGO, April 11, 2012 (GLOBE NEWSWIRE) -- In a lawsuit filed on March 29, 2012, USAA sought a declaratory judgment that it did not infringe five Mobile Deposit(R) patents issued to Mitek Systems (Nasdaq:MITK - News) (www.miteksystems.com), a leading mobile imaging software solutions provider. Mitek believes it will soon demonstrate in court, USAA's Deposit@Mobile product infringes Mitek's patented technology for mobile deposit applications.
USAA also alleges that Mitek took information, put it into a patent application, launched a product, and concealed these events from USAA. Mitek believes it will demonstrate that USAA's trade secret allegations are demonstrably false.
Mitek believes that the evidence will ultimately show that Mitek's engineers independently developed its Mobile Deposit software and related patents based on Mitek's own ideas. Far from concealing the facts from USAA, Mitek launched its Mobile Deposit product in January 2008 and repeatedly and openly made USAA aware of the product at multiple points during 2008 and afterwards. USAA launched its own mobile check deposit application utilizing Mitek's patented technology in or around August 2009, more than a year after Mitek, and long after it first learned about Mitek's product.
For these reasons, Mitek believes that USAA's allegation in Paragraph 27 of its Complaint is dishonest. As email records show, the truth is that USAA knew about Mitek's product by early 2008, watched its progress during 2008, and admitted in October 2008 that Mitek was a market leader.
On January 16 and 22, 2008, Mitek emailed USAA employees to announce the new Mobile Deposit product, and to suggest that it might work well for an existing USAA product which used stationary scanners. USAA responding by acknowledging Mitek's "exciting" development and expressing interest in adding a mobile capacity to its product.
Mitek -- including its CEO -- then traveled to USAA's office on February 8, 2008 to brief USAA on Mobile Deposit. The parties signed a nondisclosure agreement before the meeting -- an agreement about which USAA's Complaint is conspicuously silent, despite detailing the parties' other nondisclosure contracts.
During the spring of 2008, Mitek repeatedly invited USAA to participate in a pilot project for Mobile Deposit.
On October 20, 2008, after Mitek emailed a USAA manager to describe new Mobile Deposit algorithms and features, the USAA manager responded by stating that he had been following Mitek's progress, congratulated Mitek on that progress, and added that "Certainly Mitek is on the leading edge of this space and hopefully you will see some great adoption."
Throughout these communications, USAA never once suggested that the product was based on purported USAA trade secrets.
Mitek will combat USAA's false allegations aggressively to protect its patent portfolio and its market-leading software. "We look forward to vindicating our intellectual property rights, our pioneering patents, and our market-leading products," stated Mitek CEO James DeBello.
The Company has retained Wilson Sonsini Goodrich & Rosati as legal counsel.
Bought at 6.40 today. The worst may be over.
The UMK-121 trial still hasn't started. PROT said they are pursuing a trial and that's not the same as one that has started. I'll believe a UMK trial start when I see it.
Glad I have been patient on this one. I'll probably start scaling in next week. For those that bought too soon, nothing is wrong, it will turn up when the shorting ends.
Was the University of Miami trial fabricated by the iceman to suck in buyers or is there truth to it? The way the stock has collapsed, I think it's the former.
Trading like the patent lawsuit can wipe out MITK.
DSCO should find a bottom in a week or two and then I'll pounce on it. This non-stop shorting is common among biotechs after they do a secondary. When the shorting stops, I expect DSCO to head back up to the mid 3's fairly quickly. GLTA.
Looks like PROT is going under 3 today. Can you say falling knife?
The pr says they have not received a definitive offer or term sheet from any third party. This is not good.
Heard from a little birdie that if there is no news by friday's close, a certain co. must not believe that umk-121 is effective.
He said that in an e-mail he sent out last night. To get on his e-mail list, e-mail him at iceman081@hotmail.com and tell him to put you on his e-mail list for USPR and his other stock picks.
Tonight, iceman said the potential deal is still on and he's looking for news shortly. He also said he wasn't selling. Let's hope we get a signed deal in the next week or two.
Iceman's weekend updates on USPR were very positive.
I don't want to divulge everything from the e-mails, but in the first, he did say he was extremely confident that April would be a great month and in the second, he said that the stock should rip sooner than he thought.