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This is interesting....I didn't really catch that...at least as it may connect to the timeline.
You see, that is a standard statement needed in the attorney letters and was likely correct as of July 31, 2012, the end date for the filing, at least as far as SSRF would know, however, the attorney letter has a date of September 27, 2012. At this point the stock had already been suspended, prima facia evidence of an investigation....yes it is.....no really...it is........ok don't believe me...
So did they just change the date on the attorney letter and not really consider whether they had an obligation to report that....or can they say the letter states the situation on Jul 31?
Then they need to reveal the customer names...a lot of the apparel lines and big stores are well down the path to implementing this in some form..and it ain't KMAG's products.
If they list the customers, then I will believe....at least to the level the information supports believing....
Ha. I don't think any one of the true longs would believe me anyways.
But want I find interesting, is that KMAG patents are not truly RFID technology patents, but RFID application patents. And from that perspective they are nothng special. Essentially one way of sewing an RFID tag into a piece of clothing.
As i said, just MHO...no need on my part to debate the point.
Knowing a little something about the RFID business, there are literally thousands of patents out there, I would not consider KMAG's to be anything special, different or a game changer. But that is just MHO.
No pink CEO has ever sold more than the 1%.....LOL.
At the time of the trading suspension he was or had recently converted a large portion of his preferred shares to common shares. To me, that is a sign of confidence in his business, not a scam in the making
Actually, on the pinks, it's really a sign of a bunch of shares about to be dumped. There is no other reason or need to do the conversion until you are ready to sell.
But I suspect that view won't play well here.
Which is why you can't swing a dead cat without hitting an RFID company.
According the telephone conversation with SEC, yes audit filings with SEC will puts $KMAG on the pinks and soon beyond.
Sorry, that is not how it works.
Only problem is there is nothing even remotely meaningful in that email. Any and every suspended pink CEO could say exactly the same thing no matter what their situation or status.
They hope you take it to be meaningful to keep the dream alive...but until some specifics, timelines and commitments are made in a PR...these emails are pure and simple distraction.
In case some also missed this the first time....
You are in the dark about the most important piece of information that directly affects the accrual of value to GTGP shareholders as a result of the GTHI aquisition of MSE.
This is not something that needs to wait to be revealed.
To some that doesn't matter, to others I suspect it does.
IMHO it is not being revealed quickly for a reason.
....but then again I don't trust any pink CEO....
I am trying to wrap my brain around why long and strong GTGP shareholders seem ok being in the dark about just how much of MSE they really own, and how will benefit accrue to the GTGP common shareholder from this deal.
Everything you cite is certainly worthy, but is all the good going somewhere else? You invested your hard earned money in this venture.
I hope it is revealed soon so people can understand what they own....because at the moment, the central component of this whole business plan does not reveal what GTGP actually has.
Was a wholly own sub when formed. It's not now as the the Oct 2011 8K delineates. But nobody knows, at this point, how much of GTHI is owned by GTGP....we only know it is not 100% any more.
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=8193840
Nothing "rips" on the greys...
Not quite yet. Still able to exit if desired. The key is to watch the total traded value by day or week. The humongous $200 trade at the end of the day that bumped it to 0.0045 was well received in some circles.
If we ever find out, I am going to guess somewhere between 5-50% for yuks. It all depends on what GTGP has to throw into the kitty. Not a lot of cash. My guess the investment bank is going to have a large chunk and so will Fallacaro and immediate crew. Also there is a hint in the 8K that it is only leftovers...AFTER a placement, so it depends on how much the placement brings in if I am reading it right. But you can bet that the common shareholders of GTGP are at the end of the line.
All IMHO, of course.
But VERY material....would you agree?
There should be no reason to not explicitly state what it is in the 8K that needs to come by Friday....if it is material to GTGP.
Waiting...
Know what you hold is an important rule to live buy in the world of stocks
GLTU
Well perhaps because we don't know...really...how much the public entity GTGP owns of MSE.
Hopefully the coming 8K will clarify that now that a deal has been inked.
There should be no doubt that GTHI is a "Wholly" owned sub of GTGP
Actually there is a whole lot of doubt. It may have been at one time in the past but the October 2011 8K, a legal filing, puts that notion to rest...albeit...very subtly
So again, for those that missed it, here is the direct quote from the Oct , 2011 8K
Creation of Sub:
We have had many calls regarding the sub we formed and our intentions for it.
The sub company is Global Technology Holdings, Inc. We had disclosed that formation in the past. It was created to be the vehicle that would handle acquisitions and funding. It was in our interest to do so, as in our opinion, no Investment Banker of any substance would fund an acquisition of any size with a small publicly traded company. The benefits of the new sub would be twofold. To allow the Investment Banker to fund it by way of a Private Placement and then a selling shareholder registration statement. In addition, it would allow that company to issue the balance of the percentage to Global Shareholders in the amount of equity held. If Global was to receive all the shares remaining from the placement, it would be deemed to be and insider or full control and therefore the shares would become restricted. Therefore, this was a way for Global and its shareholders to participate directly in the selling shareholder registration. It should be noted that in either event, the percentage that Global would own directly as a company will still be classified as an insider and may still be classified as control predicated on its equity percentage as well as James Fallacaro, President.
BOTTOM LINE - GTGP DOES NOT own 100% of GTHI. Not a single PR since then says that it does. The references to GTGP and GTHI since then are independent with the ONLY connection being they have the same CEO.
Anyone know the amount of equity held?
Well, I highly doubt that a poster on here reporting the results of that discussion would be taken seriously by any of the "true longs". Plus I am not a stockholder so the answer doesn't affect me.
Best if it comes from an 8K.
I just find it interesting that there seems to be little interest in this question from many stockholders...or they choose to believe it is 100% contrary to what the Oct 2011 8K says.
Which Global?
GTGP the public entity or GTHI the private entity that GTGP MAY own a piece of, but we don't know how much, only that it is less than 100%.
Ask him point blank how many shareholders does GTHI have and how much does GTGP own?
The only valid pattern I see so far is a typical grey sheet stock just off suspension.
But I have to say it is an interesting exercise to watch, so I change my mind...keep 'em coming!
Charting a suspended grey sheet stock....?
Seriously?
So?
I would venture that there are probably a number of sources, the lending institutions provide the senior debt, there may be a subordinate or mezz piece as well as equity. We know from the Oct. 2011 8K that there has been an equity dilution (if GTGP ever really was a wholly owned subsidiary) by an "investment" bank.
Again, if I was a long, I would be demanding to know what piece I was left with. Many keep talking about "fundamentals"...wouldn't one want know if it is 50% or 5% ...that would indicate a TEN FOLD difference in value accrued to the common shareholder.
When I say follow the money...that is what I mean.
No it was not. It was signed by a PL with the firms name. This idea that all four named partners sat down to sign their John Hancock's is nonsense.
Auditors do the same thing. You get the name of the company.
I doubt Mr. Deloitte and Mr. Touche signed my audit....but that is what is there.
If it does happen, where does the cash come from?
Follow the money.....
...it's astounding what can be willfully ignored. Pinks are evil.
How much of MSE did the public entity GTGP end up with?
It's not 100% as the 8K clearly indicates.
Why is no long screaming for that answer?
Was that in a legal filing?
His 8K...a legal filing... says something different.
The only way that his 1:1 could be true is if it is a 1 for 1 share swap (which he can't do anyways...as some are pointing out)...but if he increased the total shares issued for the private entity by 10 fold and 90% of that goes to the investment bank and other individuals, you get 1 share of something that is worth only 10% of what you think you started with.
He needs to clarify EXACTLY how much of GTHI is owned by GTGP, the public entity. Any refusal or reluctance to do so means he does not want you to know.
Your imagination as a stockholder is much more valuable to him than the reality.
No it is not, unless the 8K is mistaken. It is not a wholly owned subsidiary if it is anything less than 100%. That statement says "balance of the equity" meaning less than 100%.
If someone wants to delude themselves that it means the balance is 100%, nothing I say will convince them.
The key question is 'what is the balance of the equity'????
I now believe we will see an 8K...but no one will be able to discern what % of GTHI does GTGP own.
And if something is kept hidden then there is a reason.
Seems to me that since this is the whole play for GTGP it would make some difference to many if that amount is closer to 50% or 5%.
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=8193840
Creation of Sub:
We have had many calls regarding the sub we formed and our intentions for it.
The sub company is Global Technology Holdings, Inc. We had disclosed that formation in the past. It was created to be the vehicle that would handle acquisitions and funding. It was in our interest to do so, as in our opinion, no Investment Banker of any substance would fund an acquisition of any size with a small publicly traded company. The benefits of the new sub would be twofold. To allow the Investment Banker to fund it by way of a Private Placement and then a selling shareholder registration statement. In addition, it would allow that company to issue the balance of the percentage to Global Shareholders in the amount of equity held. If Global was to receive all the shares remaining from the placement, it would be deemed to be and insider or full control and therefore the shares would become restricted. Therefore, this was a way for Global and its shareholders to participate directly in the selling shareholder registration. It should be noted that in either event, the percentage that Global would own directly as a company will still be classified as an insider and may still be classified as control predicated on its equity percentage as well as James Fallacaro, President.
The above clearly indicated that GTGP IS NO LONGER A WHOLLY OWNED SUBSIDIARY.
Wow.
proof positive that GTHI is no longer a wholly owned subsidiary.
So the only question is, what table scraps where left for GTGP? How much did it throw in for the acquisition?
And if one of the scenarios being thrown about we're to happen, a GTGP common shareholders, as a group, would find themselves left with a percentage (likely small...but who knows) of a illiquid private entity with no control over anything.
That is the only thing that appears somewhat in this murky issue.
To allow the Investment Banker to fund it by way of a Private Placement and then a selling shareholder registration statement. In addition, it would allow that company to issue the balance of the percentage to Global Shareholders in the amount of equity held.
Not sure where the above came from...but if it is correct...it's pretty clear that GTGP common shareholders no longer have 100% interest. Any investment entity is not going to give a rip about GTGP common shareholders.
There is a reason no investment banker would fund an acquisition by a pinkie. The only question is how much is left for GTGP shareholders?
And as a rule of thumb, if you can't find out the answer from a pink, it is likely a lot less than you think.
Why would he even do that? Goodness of his heart?
I am beginning to think that his ploy was to essentially prepare for the revocation of GTGP with GTHI for himself and a few others.
Common shareholders in GTGP are now likely holding a small fraction of any potential accrued value from this deal.
When you don't file financials for 7 years, you know what it coming.
Awaiting the 8K
What do you mean? The price went down when it came back on the greys? How is that not selling?
The SEC does suspensions not trading halts. Only Exchanges do trading halts.
Big difference.
You might want to read up some more.
Is anything as it seems?
Awaiting the 8K by Friday for the "wholly owned subsidiary" GTHI.
I agree...if GTHI is a subsidiary (even if not wholly owned). So it will be interesting
Does the 8K come but not say "wholly owned"....and just "a subsidiary"?...or even worse "a related entity"? In my view anything but "wholly owned" means things have changed, likely substantially...but he would be counting on that emotion thing to keep the dream alive.
If the 8K does not come does that mean they have willfully missed another filing or does it mean there is no longer a relationship? Either way not a good thing for common shareholders of GTGP.
No 8K from GTGP on acquisition....