Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Just points to the notion, even more so in my mind, that he should have known what was coming and what can happen when you don't file.
Did he somehow come to believe that he can let it slide for 7 years before the hammer falls?
It is interesting to read all the posts pre-suspension that talk about the risk of suspension for not filing (by some very reputable posters here) and the negative response and incredulity.
Then guess what happens?
I'd be paying attention to those posters very carefully. They seem to get it.
The response was not to you but to someone who said "he didn't know he had to file". Was only pointing out that he previously had a company that went delinquent and ultimately got revoked. So it rings hollow that this was something completely new to him.
...I wasn't even going to make the argument that to say a CEO of a publically traded company "didn't know he had to file" was laughable.
Some GTGP posts of mine from earlier today....in case they were missed.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=80517767
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=80515731
I have not said anything about MSE potential for success or not in this area. They could be on the road to riches extraordinaire because of some hypersonic engineering talent...althought contracts like this are little more than rescue lines to a failing firm by its State's Senator...and I actually think it is Merdi who has the talent in this case.
However, I do believe that at the end of the day, whatever happens with MSE, the GTGP common stockholder will be left out in the cold. IMHO.
Seen it before.
Alrighty then....
They still exist and they still happen...although some politicians would like you to believe otherwise.
Lol.
Then I would suggest you read up on grey sheet stocks. There are MANY types of security issues on the greys. Suspended pinks are in their own special category.
Stocks uplist from the greys every day. Many start their life there and go on to be successful. But NONE are suspended pinks.
There are many reasons that companies choose to start there. NONE ever choose to get suspended to go there.
The comparison is laughable.
Because NONE of those stocks are suspended pinks. Not one.
....not even close.
...well, unfortunately, it's where the term "bagholder" comes from.
http://en.wikipedia.org/wiki/Bagholder
As an aside, Defense appropriations aren't earmarks for those that don't know that.
Well, that aside would be wrong. There are earmarks in defense appropriations.
http://comptroller.defense.gov/earmarks.html
And here is an example of a recent one
http://www.businesswire.com/news/home/20120802006423/en/Defense-Appropriations-Includes-Earmark-Wasteful-Missile-Program
Yes. See my post below. Found the original solicitation notice.
So MSE has won a contract. Now, if it was I financial difficulty, that might make it an attractive investment.
Still trying to find the avenue that gives GTGP the leg up on this though. It does not have a lot of cash in the bank and its stock is pretty much worthless at the moment. Did the whole play for JF change with the suspension, or was the GTHI setup in anticipation of a problem with GTGP (ie. possible revocation)???
I feel like he is in the process of jumping from one train (GTGP) which is heading towards a cliff, and onto another GTHI with his investment partner(s). But I can't see the SEC looking too favorably on that...
Things that make you go hmmmmmmm.
Seen this story before, but the air is still too thick with smoke to make it all out.
Friday's lack of an 8K is one possible piece.
We will see.
Ok...found the original procurement notices
It was originally a request for quotation...with notification of intent to award to MSE if no more technically/commercially viable bids received. None were, it was then changed to a Sole Source selection. It is an IDIQ with about 25% of the contract value awarded so far.
So is this to the benefit of GTGP?....we may soon find out, if not already.
https://www.fbo.gov/index?s=opportunity&mode=form&tab=core&id=6b4999b62da0d823abc21c922723d904
https://www.fbo.gov/index?s=opportunity&mode=form&tab=core&id=9cd23ab00d1cf079c24ba7c7b13f44a0&_cview=0
https://www.fbo.gov/index?s=opportunity&mode=form&tab=core&id=6f32fe232acff5586766f8b3b5dfbff6&_cview=0
https://www.fpds.gov/dbsight/search.do?indexName=awardfull&templateName=1.4.2&s=FPDS&q=0001+9700++TREASURY_ACCOUNT_SYMBOL%3A%22212040%22+PRODUCT_OR_SERVICE_CODE%3A%22AC21%22+REF_IDV_PIID%3A%22W31P4Q11D0086%22
That is not what it means. The government cannot "solicit" one bid. It means that they only received one bid on the solicitation. If it's a task order based contract (which it mentions), then they may or may not see the revenue total listed....although that would make it an IDIQ....which it does not appear to be.
If it was a sole source contract, which is what you are referring to, that is a completely different procurement process and there is no indication that this is a SS contract.
Now owned by Mr Fallacaro
Precisely....
(Or did you mean GTGP).
Suspended pink sheet stocks trading on the greys do not, for the most part, attract new investors. Even the very few that have made it back prior to 2010, did not attract new investors, the pps languished.
How do you know this is what he is doing?
to file a single comprehensive Form 10-K and Form 10-Q reports for only the current year instead of all delinquent periodic reports.
It has to cover all years with audited financials, but they can all be contained in one report.
Information Required
The SEC makes clear that it will not waive the requirement to file past due Form 10-K and 10-Q reports. Instead, it will accept one comprehensive Form 10-K covering multiple fiscal years and quarters if the filing includes all of the following:
- audited historical financial statements for each of the missing years;
- unaudited summarized financial information consistent with Item 302 of Regulation S-K for each of the first three fiscal quarters (and the prior comparable period) for quarters ended before the most recent fiscal year’s audited financial statements;
- Management’s Discussion and Analysis of Financial Condition and Results of Operations based on all the annual and quarterly financial information provided in the filing; and
- all material information that would have been available and disclosed in the company’s delinquent periodic reports had they been timely filed (such as any acquisitions or changes in management during the periods in which no reports were filed).
Also, Fallacaro has had a stock revoked before for not filing, are you saying he just forgot about that experience?
Laughable...
Jim didn't know he had to file his papers
LOL.
Then Fallacaro himself is throwing up a smokescreen because that is exactly what he is saying in the Oct 2011 8K. Ignoring that fact doesn't make it go away.
What the heck does that mean?
Strange indeed!
I gotta get some more popcorn.
Are you saying that no material event occurred on Monday with the announcement? In otherwords, the closing of the deal is still up in the air? It might, or might not happen on the 25th? That there was nothing binding agreed to or signed on Monday?
Because that is the ONLY WAY it was not a material event.
But then we have to ask, if it was not material, why PR it? Why not wait until the 25th????
He did an 8K for a 3 day trip to Butte, for "meetings"...but not for the substance of the PR Monday?????????
This red flag has a siren, strobe light, and fireworks attached to it.
Funny thing is, he seems to have no problem filing 8K's....but it appears only when it serves his purpose...and not the shareholder's
It's almost laughable now....if it wasn't so serious.
I am afraid a lot of people are going to find out the hard way.
I wasn't talking about the stock.
That is the post of a clear headed, unemotional investor.
But human nature is what it is. It is very hard to even ask oneself questions that are hard to answer without it upending your belief structure.
The reason suspended pinks get alot of MB attention is the same reason people gawk at a car accident. But in this case it is happening in slow motion and everyone was given 10 days warning it was coming.
But it doesn't mean the spectators want to be sitting in the car.
"I took a three day trip to Butte to talk to some folks" - gets an 8K
"I signed a deal to buy MSE" - doesn't get an 8K
Any plain reading of the PR issued by Fallacaro on Monday makes what he was announcing a material event to the stock GTGP if GTHI is owned in a meaningful way by GTGP. Just because the actual close is not until the 25th, does not mean that the announcement of the "deal", is and of itself, a material event, something was signed....UNLESS...the reality is that the ACTUAL ownership (or the upcoming deal closing on the 25th) is not material to GTGP.
It is clear that announcement of a deal like this should be expected to influence the price of the stock under normal circumstances, and thus the announcement itself is a material event.
He can't have it both ways. The 8K is the legal document that he is most exposed to. The PR exposes him as well, but he went to what appears to be great lengths to keep the "benefit" to GTGP hidden. THE FACT OF THE MATTER IS THAT IF GTGP HAD ZERO INTEREST IN GTHI, THAT PR WOULD STILL BE ACCURATE. It is not referred to in any way as a subsidiary, or in any directly as part of the "deal".
So there are only 2 choices
1) the annoucement of the deal is a material event to GTGP, and he has decided to not file an 8K....for any number of reasons, not the least of which is the % is lower than he is hoping people think it is.
2) it is not material to GTGP and he runs the risk of a major faux pas while his company is under investigation.
In my view #1 has less risk to him.
Also I find the evolution of the debate about what actually happened on Monday to be enlightening. Initially some where questioning if anything was signed or agreed to and therefore everything was left wide open until the 25th...and the general response was NO, THE DEAL IS DONE!!!!?....but then when suddenly this pesky little issue of an 8K gets brought up...now...it's NOTHING IMPORTANT HAPPENED ON MONDAY!!!
Can't have it both ways.
8K's are required for "material definitive agreements not made in the ordinary course of business".
This fits.
Unless it was not a definitive agreeement....then we are back to the question of what is really going to happen in the 25th?
I agree. I really can't see how there will not be one. But my guess is it will only regurgitate the PR. No new information. I believe there is some ownership of GTHI by GTGP for a host of reasons.
...and signing an agreement is as material as it gets (especially since it was PR'd) and it looks like he has done 8K's for all PR's recently...?
If there is none, only two explanations....either it was not a material event to GTGP and an 8K of the PR would be a misleading filing (cause it is a legal document)...or...he is just delinquent on yet another filing, but for a reason.
...either way, not good.
He has done an 8K for a 3 day trip to Butte.....jeeze!
Material event was signing the agreement. No way around it. Another material event will be the close on the 25th.
Well, I agree that it would have to be unlike any other.....
Does not support anything. That was not reinstatement off the greys.
Sorry, different issue. Do some DD on DTCC chills.
Exactly. Every "true long" on every suspended pink wants to believe that volume leaving means sellers drying up. That has never been the case. It is always the opposite. The best DD one can do is go look at an "active" suspended pink in the weeks and months it starts trading on the grey sheets and you will see only variations on the same pattern. Price stabilization, volume decreasing, then price drop to new level, some stabilization, volume drying up....wash, rinse, repeat.
Reinstatement off grey sheets did not happen. Removal of DTCC chill only. COMPLETELY separate issue.
If you trade pinks, you may want to become very familiar with what DTCC is and how it works.
Sorry...still grey. May want to read up on DTCC issues vs. SEC suspension.
Can you post this since October 1?
So what do you call October 1?
efrky - any response to your email?
Just curious...although I don't know how it would be verified...
So Liljeff, you have decided to hold everything in anticipation of recovery?
I recall this is a big deal for you.