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and it will continue to improve its financials, grow, and increase its market share.
The technology and qualities of the mgt and staff are awesome!
GLTA
Maybe the SEC should look at the AMEX:
http://www.newyorkbusiness.com/news.cms?newsId=6584#continue
Like I said before, discrepancy of the date of the receipt of the letter and the 8K and PR could have been related to availability of those who needed to review and approve the appropriate response and 8K (which also needs to be approved by AMEX before dissemination).
That same period of time:
- Folks were preparing for the Conference in Florida
- Preparations in Palmdale/Edwards AFB for the Strat Launch
- The corporate counsel and CEO and COO could have all been "on the road" when this arrived.
Who knows why the delay occurred...but they did have a deadline to get it out, nevertheless, they met that deadline. A nice start in meeting dates.
Seems to perhaps be connected to "nilremerlin"'s find
General Atomics Aeronautical System of San Diego, Calif., was awarded August 22 a cost plus fixed-fee contract for $11,466,000 as part of an estimated $23.4 million contract to acquire four extended range multi-purpose unmanned aerial vehicles, the associated support equipment and initial spare parts. This work will be completed by Aug. 31, 2007, and will take place at four locations: San Diego, Adelanto and Palmdale, Calif.; and Salt Lake City. The U.S. Army Aviation and Missile Command at Redstone Arsenal, Ala., is the contracting activity. Army Public Affairs can be reached at (703) 692-2000 (W58RGZ-06-C-0208).
http://www.defenselink.mil/Contracts/Contract.aspx?ContractID=3316
Hmmm...maybe
Keep in mind labrador that one was a statement by Dumas, the other was a statement, as understood by the reporter. Personally, having worked in Aerospace & Defense, it may take that long, and it may be a lot shorter. It all depends on the testing and the advances in materials technology.
Old News but....
http://www.satnews.com/stories2006/2948.htm
explains in more detail the specifics on the delay related to parts. States launch is scheduled between 20-30th of August.
Well...what can I say other than "we shall see".
Chris Byron must be going nuts--see this!
http://breakingnews.nypost.com/dynamic/stories/W/WIRELESS_DIRIGIBLES?SITE=NYNYP&SECTION=HOME&....
How ironic!
LMAO
That is public information Cole...go look it up instead of implying.
justfrank, you are right, but so do officers. Look at the recent scandals that involved QWest, Global Crossing, etc. in recent years. The officers, who participated in illegal activities were also liable.
Travel expenses were not significant...I rack up that much myself in a year traveling to clients.
Board of Directors/Officers...okay semantics. The folks reporting to the board, for me anyway, regardless of title, are just managers.
They did not state which shareholders' interest they were protecting.
ColeThronton----The slate of officers and directors was cast to a vote at the shareholders meetings. The slate won by over 80% of the votes and proxies.
Not being a shareholder in this company, why would you care anyway?
The increase in mgt positions was exercised in 2nd quarter. Actually very telling and positive sign...think a bit about why they would hire more?
Certianly you are not expecting these new people, leading new initiatives, to start showing the impact on numbers reported at the end of that same quarter are you?
As for the parts refabrication, I agree....poor project mgt in the area of 3rd party suppliers. They should have had an engineer doing QI in Europe. Lesson learned. They fixed the problem.
Increase in officers compensation was for new management hires.
Stop distorting the truth,,,,
cabvineyard....look at one of GTE's competitors AMT. They were in a similar situation....look at their price history from the late 1990s through recently. The also found themselves in pennies.
any release of PR, including the 8K, had to be reviewed and approved by AMEX at this point. That also takes time. They were also preparing for a Stratelite launch, as well as, a booth and meetings the the conference this week.
Give it a rest...you are whining.
It all comes down to company fundamentals and "Execution" on business plans. Regardless of where a company is listed it all comes down to this. Not the exchange where a company is listed, but superb execution and management of overhead.
We shall see what happens........I am not "kicking heels" over the last 10Q but the trend is a positive one and if this trend continues, we may "see light at the end of the tunnel".
As to consipiracy theories regarding AMEX.....well, I am not sure about that, but, surely one has to understand by now, GTE is not playing "hop-scotch" on the OTC:BB, but is competing with "the big boys" now, and management (as well as shareholders) must expect "severe competition" from the likes of those companies who perceive this technology to be a threat to their current or future lines of business.
In addition.....The BUY limit order was partially filled for 7500 at 3:53 PM EDT
One thing I did find interesting today. I executed a buy order and was watching how the order was executed. It appeared as a SELL (I entered a BUY limit order partially filled) at .53
It should tell you all, that those with "weak hands" are those that are impatient always have someone else who will buy their shares. I wonder who is scooping up these shares today?
Well....a nice theory, but GTE has no control over when a reporter from the AP will, or even if at all, file a news story and how that news story get disseminated across the news wires.
Just reading the 8K:
"In contrast to the earlier notice, the August 17th letter also identifies the specific matters underlying the Amex’s concerns. The Company believes this additional specificity should help address concerns previously voiced by the Company to the Amex to the effect that the lack of specificity contained in the letter dated July 18 interfered with the Company’s ability to undertake a thorough assessment of the Amex’s concerns with a view toward mounting an effective defense."
I see this as a positive, in fact, after reading the entire 8K and thinking about this a bit more.
and timed on the last day of the conference:
http://www.sanswire.com/about-events.htm
Hmmm......very fishy.
I find it interesting...
that the AMEX decided to issue the Release when it did and .............just prior to the Stratelite demonstrator launch.
gg57----You have not answered my question
http://www.investorshub.com/boards/read_msg.asp?message_id=12887910
Please explain why you see the Balance Sheet getting worse?
I have done a pro-forma quarter to quarter on the Balance Sheet, the P&L, and Sources/Uses of Cash and I see them improving.
Please explain how you get to your conclusions?
The pay was approved by shareholders (the owners...all 36,000+ of them) at the shareholders meetings. I believe the vote was over 80% approval of the slate of management at the last meeting in fact.
Sorry...most disagree with you.
The issue with any company in a competitive environment, is how much news and details to release, in order to placate and inform shareholders, while, at the same time, keeping details and information which the company may deem as being confidential, and wishing to keep "out of the hands" of its competitors.
I will no deny the fact that dates passed and we did not have timely updates. It is better always to get out front and be proactive with news and updates.
A tough balancing act.
That said, Huff and Dumas agreed at the shareholders meeting that more communication with shareholders would be done. Unfortunately, the AMEX has effectively put a "gag order" on the company now.
I believe the AMEX appeals board is not the last step in the process. GTE management may also appeal the AMEX decision to the SEC.
A long road ahead.
So they get fined, get some time to "fix the internal controls", and demonstrate compliance. You are barking up the wrong tree.
So you are now comparing GTE, with its minimum staff, with a corporate giant like Microsoft?
How many dates has Lockheed-Martin missed on its HAA project? How many times, and when exactly, did they update their shareholders on delays in all of their projects and initiatives?
Or it could be:
3. That the parts required for the QI testing by the air force did not pass GTE inspection, and, the refabrication of of such parts, caused an unforseen delay in the SOC approval process.
4. Specific parts or assemblies, unknown at the time of the engineering QI review, by the air force, as a part of the SOC approval process, caused a delay in the dates.
either way, a CEO rarely has specific details of such things on a daily basis, and you probably should point a finger at Bob Jones or his engineers as well.
I think you are just being negative.
Regarding:
"My point is that I don't see any compamy ever succeeding with an Amex appeal, most don't even try"
Is pure conjecture on your part.
My guess "gilbert1", is that AMEX staff were asking specifics related to a particular PR or PRs, which constituted details which the company, perhaps deemed, was proprietary and confidential (which may have hurt its competitive position) and wished not to release to the public, and so they limited the information provided to the AMEX staff member, to what they deemed was sufficient. Keep in mind, AMEX staff also are capable of "leaks".
Of course I could be wrong on this, but it seems reasonable.
Demonstrate what PR was intentionally misleading please?
What and how was there dillution other than some specific exercise of some warrants held by preferred shares?
The R/S prior to AMEX was a requirement of the AMEX for listing. The drop in PPS was due, in my view, to failure to meet deadlines and the default of InterNafta on the Russian WiMax deal, and a large amount of SHORT selling. Look at the short interest from Dec. 2005 month by month, in addition to GTE's shares being on the REG SHO list (also ignored by AMEX) for many months. AMEX also failed to inforce their rules on shorts.
Has Lockheed Martin, Boeing, and many smaller companies ever had projects which had delays? That is nonsense.
The events were material and required a PR. Each PR had a Safe Harbor statement.
Internal control weakness.... the upgrade and parallel test of the new Billing System
)
Irrelevant. Was way before Tim Huff took over the company years ago, and this was widely available information, prior to GTEs listing on the AMEX.
Leave aside the charges may be entirely baseless and without merit.
It has no relevance to the current management and staff at GTE, not to any members of the current BOD.