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Army says Dragon Skin armor falls short
By LOLITA C. BALDOR, Associated Press Writer Mon May 21, 7:39 PM ET
WASHINGTON - The U.S. Army, in a rare move Monday, released a barrage of test results showing that a privately-sold flexible body armor that some families have sought for their soldiers failed extensive military testing.
Pieces of the hefty Dragon Skin armor, with ragged holes torn through its yellow inner skin, were propped up on the floor in the Pentagon, as Army officials systematically detailed the battery of ammunition and temperature testing the armor failed.
Although the tests were done nearly a year ago, the Army declined to release details until Monday, after recent NBC News reports suggested that the Dragon Skin may be better than the Army-issued Interceptor armor.
As a result of the reports, some members of Congress have asked for an investigation into the matter, and others have asked the Army for more information.
"We take this personally," said Brig. Gen. Mark Brown, executive officer for the Army's armor testing program. "One third of the general officers in the United States Army have either a son or daughter either in theater (at war) today or (who) has been to theater."
Holding up an armor-piercing bullet, Brown showed video of the tests, including footage of officials peering into the bullet hole in the Dragon Skin armor. "At the end of the day, this one disc has to stop this round. It didn't. Thirteen times," he said.
In response, Murray Neal, president of Pinnacle Armor which produces Dragon Skin, suggested that the Army lied about some of the testing, and he questioned why the Army was counting shots that "were fired into the non-rifle defeating areas."
The body armor debate has raged almost since the Afghanistan and Iraq wars began, as the Army struggled at times to get all of the needed equipment to its soldiers — both active and reserve. At times, family members around the country were raising money, having bake sales, and spending thousands of dollars of their own cash to buy armor and equipment for their loved ones going to war.
In some of those cases, families were considering buying Dragon Skin armor because they believed it would provide better protection. The Army Monday said it was releasing the test details to help prevent families from spending money on body armor that is not as good as the protection already issued to the soldiers.
Brown described "catastrophic failures" by the Dragon Skin armor, and said that in 13 of 48 shots, lethal armor-piercing rounds either shattered the discs that make up the armor, or completely penetrated the vest.
"Zero failures is the correct answer," he said. "One failure is sudden death and you lose the game."
Brown added that the armor failed to endure required temperatures shifts — from minus 20 degrees to 120 above zero — which weakened the adhesive holding the discs together. And he said that the Dragon Skin's heavy weight was also a problem for soldiers who need to carry a lot of gear.
The Dragon Skin, he said, weighs 47.5 pounds, compared to the Army-issued Interceptor armor, which weighs 28 pounds.
After seeing the latest television reports, Sen. Edward M. Kennedy, D-Mass., sent a letter to Army Chief of Staff Gen. George Casey asking for more information and saying he's concerned that the Army may not be providing better body armor to the soldiers as quickly as possible.
And Sen. Hillary Clinton, D-N.Y., sent a letter to the Government Accountability Office, a government watchdog agency, seeking an investigation to assess the body armor being used by the military.
Army officials said they would be going to Capitol Hill this week to talk to lawmakers about the armor issue.
http://news.yahoo.com/s/ap/20070521/ap_on_go_ca_st_pe/army_body_armor
___
On the Net:
U.S. Army: http://www.army.mil
iRobot May 2007 e.newsletter
http://homesupport.irobot.com/cgi-bin/irobot_homesupport.cfg/php/enduser/doc_serve.php?2=may
morecrazy, you wrote:
"It looks like the company is or should be focusing everything on Coroware."
not too sure about that "is" part:
"Numerous CoroWare employees were terminated in the fourth quarter [2006]..."
http://www.sec.gov/Archives/edgar/data/1156784/000114420407020095/v072155_10ksb.htm
the "should be" part, however, now that seems 100% accurate imo.
and imo, Lloyd Spencer should be CEO.
Q1 (2007) revenue mix and some historic comps
Q1 (2007) revs - $671,679
$635,305 = CoroWare = 94.6%
$19,854 = Altronics = 2.96%
$16,520 = RWT = 2.46%
http://www.sec.gov/Archives/edgar/data/1156784/000114420407027737/v076125_10qsb.htm
Q4 (2006) revs = $489,731
Q1 (2007) revs - $671,679
37% sequential Q-to-Q revs increase (Q4 2006 v. Q1 2007)
http://www.investorshub.com/boards/read_msg.asp?Message_id=18445035
From 10QSB for Q3 (2006):
Total 9 months revs (Services and Products) = $850,491
http://www.sec.gov/Archives/edgar/data/1156784/000114420406049255/v058526.htm
Backing out the 9 months (Q1-Q3 2006) results:
Total Q4 (2006) revs = $489,731
(Q3 (2006) revs = $255,717) = 92% sequential Q-to-Q (Q3 v. Q4 2006) revs increase
PS grub.
10QSB - Accepted: 2007-05-21 16:50:43
http://www.sec.gov/Archives/edgar/data/1156784/000114420407027737/0001144204-07-027737-index.htm
Q1 revs - $671,679
Gross Profit - $167,879
Net Loss: ($28,558)
O/S on 03-31-07 = 82,510,477
IMO they still have an hour to file...
it seems that the SEC considers any filings submitted after 5:30PM to be filed as of the next business day. so if Ft. Myers files any time after that, it may be pink tomorrow, and it might just stay that way for at least another year after that.
Innova on OTCBB's pending de-list roster:
OTCBB Eligibility Status Report as of May 21, 2007
Each trading day, NASD publishes a list of OTCBB issuers that are repeatedly late or otherwise delinquent in filing required reports and, thus, subject to ineligibility pursuant to NASD Rule 6530(e).* Specifically, the list identifies OTCBB issuers that have either been delinquent in filing required annual and quarterly filings at least two times in the prior two-year period and those issuers that have been removed for failure to file an annual or quarterly filing at least once in the prior two year period.
Further information regarding NASD Rule 6530(e) can be viewed on the website at: http://www.otcbb.com/faqs/otcbb_faq.stm
http://www.otcbb.com/DailyListContent/delistings/OTCBB_Eligibility_Status_Report.pdf
http://www.otcbb.com/DailyListContent/delistings/OTCBB_Eligibility_Report.txt
that would be today (well, yesterday actually).
you may be correct aries...
"The registrant is in the process of preparing and reviewing the financial information of the Company. The process of compiling and disseminating the information required to be included in the Form 10-QSB for the relevant fiscal quarter, as well as the completion of the required review of the Company’s financial information, could not be completed without incurring undue hardship and expense. The registrant undertakes the responsibility to file such quarterly report no later than five days after its original date."
http://www.sec.gov/Archives/edgar/data/1156784/000114420407025205/v075028_nt10q.htm
"what is the latest date INRA needs to file to avoid E designation?"
wouldn't that be today?
yeah, but they don't file.
DMTN (d-mecatronics) is pink.
however, it is an interesting biz that "december" (one of the MSRS mods) knows a ton about.
Roswell! Roswell!!!
that stealth theory might fly with respect to any DOD bot initiatives, but not in the context of a "pro-sumer" product like the CoroBot.
it just doesn't make any sense imo, at least not from a business perspective.
hey joe - so far the indicators are negative. the absence of proper PR support for the CoroBot product launch is truly baffling imo.
they were at RoboBiz, as a "gold" level (tier 2) sponsor (same level as MSFT), and according to that engaget poster, their booth was immediately adjacent to Mr. Softee's booth. yet, for whatever reason, the sole PR connected to this was released via "freebie" PR Web?!?
maybe they just considered this to be a "soft" product launch, and maybe they have some actual strategic plan to market, promote, advertise, etc., but i'm not seeing it. perhaps it somehow gets tied in to Calsyn's book release (coming in late July or early August i think).
while Harry is sorta pumping, his opinion about selling 1000 units could be achievable, of course that requires that the product is properly marketed. it all remains to be seen imo. put it in the already over-stuffed "potential" category imo.
i do think that universities are a good (but somewhat limited) market. can only hope that there is a real plan to launch the CoroBot world-wide that we don't know about yet.
that's how i see this mess too HA - failure to file by May 20 could trigger the OTCBB "three strikes" rule.
"45,000 untapped submerged forests in the world"
wow - that's some very cool tech!
disagree hardasset because the 2005 10KSB was for a period ending "on or after June 1, 2005."
jmo, but Innova already has "two strikes" and going beyond the NT extended deadline for the overdue 10QSB might trigger the OTCBB rule.
http://www.investorshub.com/boards/read_msg.asp?message_id=19621891
CoroWare Introduces New DIY Robot
CoroWare is gearing up to release a new DIY robotics kit marketed as an "affordable and flexible mobile robot for researchers, hobbyists, and developers in the industrial and service robot segments." The CoroBot comes equipped with a 1.2GHz processor, 512MB of RAM, 20GB hard drive, front and rear IR sensors, 640 x 480 resolution camera, and eight digital inputs / outputs. The device is compatible with Microsoft Robotics Studio, sports an option for a robotic arm capable of four degrees of freedom, and has a five pound base payload capacity. For those interested in securing this multipurpose robot, it's scheduled for commercial release in June and has a price between $2,499 and $3,499 depending on accessories.
http://www.communistrobot.com/viewblog.php?id=434
the essence of "autonomous." eom.
nice. imagine how much media coverage the CoroBot product launch might have received if there had been appropriate PR support.
maybe they're just saving up for their next inevitable "announces new key appointments" PR?
CNBC reports robo gold rush - "Robot Revenue"
http://www.investorshub.com/boards/read_msg.asp?message_id=19701737
CNBC reports robo gold rush - "Robot Revenue"
http://www.investorshub.com/boards/read_msg.asp?message_id=19701737
and no, Innova wasn't mentioned...
CNBC reports robo gold rush - "Robot Revenue"
Maria "Money Honey" Bartiromo says the technology is "changing the military and boosting the bottom line..."
Darren Rovell reported that 900 "packbots" are already deployed in Iraq, and iRobot (Naz: IRBT) is about to deploy a new larger unit called "The Warrior" (that looked similar to the ASI/Remotec "Scorpion").
here's CNBC video from today's earlier report @ RoboBiz 2007:
Robo Rovell
Wed. May 16 2007 | 12:57 PM[02:49]
Discussing how long it will be before robots roam the office, from the Robo-Business Conference in Boston, with CNBC's Darren Rovell
http://www.cnbc.com/id/15840232?video=298088776&play=1
ASI's Scorpion EOD for The Big Jobs
Isreali police forces have recently used the Explosive Ordinance Disposal, EOD, robot Scorpion to dispose of a hidden bomb.
The Scorpion is from Autonomous Solutions, Inc of Utah. It is made from a modified Bobcat excavator with ASI's command and control brains.
Six Scorpions were delivered to Isreali police in 2006 and this is their first success on active duty.
The large size of the EOD robot makes it unique in the growing family of bomb disposal robots.
According to ASI:
The Scorpion's size, strength, and its ability to cut through steel introduces new capabilities which are changing the way the Israeli Police plan and execute their explosive ordnance disposal operations.
Autonomous Solutions, Inc.
Labels: EOD, hazardous conditions, military robots
posted by Prospector at 8:41 AM
http://robotgossip.blogspot.com/2007/03/scorpion-eod-for-big-jobs.html
1 Comments:
Anonymous said...
To be completely accurate in the above post, those robots did not come from "ASI." Those robots delivered to the Isreali police came from Remotec. ASI was a subcontractor of Remotec and ASI did do a significant amount of the work, but to claim them as the sole source is simply not correct.
7:21 AM, April 06, 2007
CNBC report from RoboBiz featured Foster-Miller's "Talon" ($80K) and iRobot's Roomba ($349).
Grassley renews push for hedge fund rules
Charles Grassley: $1.2 trillion industry lacks transparency.
By Bloomberg News | May 16, 2007
WASHINGTON -- US Senator Charles Grassley proposed legislation that would subject hedge funds to stricter oversight and routine inspections, reinstating rules struck down by a federal court last year.
The measure would require hedge fund managers with at least 15 investors and more than $50 million in assets to register with the Securities and Exchange Commission. Grassley, an Iowa Republican, said the measure will improve transparency of an industry whose assets under management exceed $1.2 trillion.
The measure clarifies that the SEC "has the authority to require hedge funds to register, so the government knows who they are and what they're doing," Grassley said in prepared remarks yesterday. "Hedge funds are operated by advisers who manage billions of dollars for groups of wealthy investors in total secrecy."
Grassley, citing the collapse of Amaranth Advisers LLC in September, said he's concerned that increasing investments in hedge funds by pension funds could jeopardize American's retirement savings. Amaranth lost $6.6 billion on failed bets on gas prices.
Grassley's stance contradicts President Bush's Treasury Department, which has said no new rules are needed to rein in hedge funds.
It's unclear whether Grassley, the top Republican on the Senate Finance Committee, will be able to move his measure. He failed in March to force hedge fund registration by attaching an amendment to a homeland security appropriations measure.
Any legislation regulating hedge funds would probably go through the Senate Banking Committee. That panel's chairman, Connecticut Democrat Christopher Dodd, has described hedge funds as "a tremendous wealth-creation vehicle."
Grassley's bill would reinstate SEC rules rejected in June by a federal appeals court in Washington. The SEC wanted hedge funds to report their size, number of employees, and undergo examinations by agency staff.
http://www.boston.com/business/globe/articles/2007/05/16/grassley_renews_push_for_hedge_fund_rules/
CoroWare's CoroBot encourages DIY robotic deployment
Posted May 16th 2007 3:11AM by Darren Murph
Filed under: Robots
Homegrown robotics have been sneaking around the scene for quite some time, and while we've seen instances of DIY kits coming in at (somewhat) reasonable prices, CoroWare is apparently hoping to nab a bit more of that untapped market. Hailed as an "affordable and flexible mobile robot for researchers, hobbyists, and developers in the industrial and service robot segments," the CoroBot indeed packs quite a punch. Judging by the 1.2GHz processor, 512MB of RAM, 20GB hard drive, front and rear IR sensors, 640 x 480 resolution camera, and eight digital inputs / outputs that this thing sports, we don't envision it shipping out to many newbies regardless of the marketing. Furthermore, the device is compatible with Microsoft Robotics Studio, sports an option for a robotic arm capable of four degrees of freedom, and even boasts five pounds of base payload capacity. Unfortunately, for those of you still hoping to snap one up on the cheap, chances are you'll be sorely disappointed by CoroWare's definition of inexpensive, as the June-bound bots start at $2,499 and head north to $3,499 when tricked out.
Reader Comments (Page 1 of 1)
pauly @ May 16th 2007 7:00AM
Robots are not cheap. The cool skateboarding bot Plen goes for about $2,200.
http://www.robotliving.com
Yan @ May 16th 2007 9:00AM
A couple of friends and I saw their booth at the Robobusiness expo yesterday. Along with a couple other booths, they were right next to the Microsoft booth because they were a "Microsoft partner." It seemed like a very lame attempt by MS to appear like they were being accepted by the general robotics community. Anyway, the girl at the booth explained that the Corobot was linux compatible but didn't have any details as to whether or not the drivers were actually ported. Also, the 1.2 Ghz CPU is a VIA-based processor.
The booth to the right (I wish I remembered the vendor's name) of the Coroware's had a bunch of very small and relatively inexpensive laser range finders for about $3000. I think mounting one of them on top of a Coroware bot could make for a pretty good kit solution.
http://www.engadget.com/2007/05/16/corowares-corobot-encourages-diy-robotic-deployment/
doubt it joe -> Coro=OTS.
Coro's philosphy seems to be all about "Off-the-Shelf." guessing it's a series of ready to go components that the user assembles. CoroBot seems targeted for high-end hobbyists and enthusiasts, so putting the stuff together would be part of the fun.
NASA Robot to Explore 'Bottomless' Pit
insert your own joke here...
http://www.investorshub.com/boards/read_msg.asp?message_id=19661985
PS RobMon - yeah, somewhat surprising, especially as they hadn't bothered to update the site to reflect appointment of a COO!
NASA Robot to Explore 'Bottomless' Pit
By SPACE.com Staff
posted: 15 May 2007
10:12 am ET
A robotic yellow submarine will journey this week to the world's deepest sinkhole, which already has taken the life of one diver who sought to reach its bottom and discover the life that might exist there.
Others have tried to reach the end of this seemingly bottomless pit in the Mexican state of Tamaulipas, known to be at least 925 feet deep, but no one has ever succeeded.
The self-automated "DEPTHX" (Deep Phreatic Thermal Explorer) will search the depths of the El Zacaton cenote, or geothermal sinkhole, for life and also study its dimensions and look for the vents that feed it.
NASA, which funded the robotic explorer, views the mission as a test-run for a potential journey to Europa, a moon of Jupiter thought to contain liquid water beneath miles of ice--and possibly complex forms of life. New technologies that could help explore its ocean will be put to the test during the robot's descent.
"We'll spend the first two days checking out DEPTHX's sensors, updating its software and performing a test dive to 250 meters [820 feet] to check its pressure housings," said David Wettergreen, who helped create the 8-foot-long submarine.
Once the vessel passes it final exams, Wettergreen and his team will have six days to probe the sinkhole's watery depths. "It's an ambitious program," Wettergreen said, "but the vehicle performed well in two earlier field tests at the La Pilita cenote," another Mexican sinkhole.
Software written by Carnegie Mellon University's Robotics Institute will allow the untethered sub to navigate in the sometimes closely confined underwater spaces and probe the pitch-black sinkhole with 56 sonar sensors for mapping.
The progress of DEPTHX, as it gathers water and stone samples from the cenote's walls, can be monitored at the mission's Web site starting today.
DEPTHX also will be used to explore two other sinkholes, Caracol and Verde, during the team's two-week expedition.
http://www.space.com/news/070515_deepest_sinkhole.html
you probably won't ever see that PR connected w/the ticker on most data feed services.
it seems it was only distributed on a couple of "free" net PR services, PRWeb and eMediaWire:
http://www.prweb.com/releases/2007/5/prweb526448.htm
http://www.emediawire.com/releases/2007/5/emw526448.htm
"PR Web™ has offered free online press release distribution services since August 1997."
http://www.emediawire.com/about.php
fyi and fwiw, the company has used MarketWire for all its other PRs:
http://finance.yahoo.com/q/h?s=INRA.OB
ASI's robots do the dirty work
By Brice Wallace - Deseret Morning News
YOUNG WARD, Cache County — The setting is bucolic. A solitary duck lazily floats on a pond, seemingly oblivious to the rare passerby. Look down a bit from the snow-capped mountains and you'll see a tractor working on a farm so distant that the behemoth seems to labor silently. Children laugh and play on a backyard swing set. An occasional vehicle kicks up part of the dirt road here in Young Ward, in the Logan area.
Melvin Torrie, founder of Autonomous Solutions Inc., stands near an automated tractor fitted with a mine-sweeping device for use in Iraq.
Tom Smart, Deseret Morning News
Robot Chaos
Who would think that just a few feet off that dirt road sits a vehicle able to disable land mines, its roughneck exterior concealing high-tech innards built by a team of engineers nearby who toil making robots? But the high-tech hardware and software developed by Autonomous Solutions Inc. is helping a wide range of people — everyone from farmers fighting battles with boredom to the military fighting the war on terror.
Tom Smart, Deseret Morning News
Melvin Torrie, founder of Autonomous Solutions Inc., stands near an automated tractor fitted with a mine-sweeping device for use in Iraq.
Making robots that are as light as 5 pounds to systems that can automate 420-ton, three-story-tall, open-pit mining vehicles, ASI looks to keep people away from jobs that are repetitious or hazardous by letting machines do the work for them.
"We're looking for those industries with quantity potential that are dull, dirty and dangerous applications," said Melvin Torrie, founder and chief executive officer. "It's the stuff that people don't want to do. We allow them to go back to school and use their brains."
Through the use of ASI systems, a farmer can control and monitor up to 15 unmanned vehicles working the fields. Police and the military can inspect the underside of vehicles from a safe distance using an ASI robot specially designed for the task. The military also can get more realistic training by targeting unmanned vehicles controlled by an operator miles away.
"It's great that this is a fun job, but we really have focused the company on helping people reach their potential at every level. So if it's farmers, instead of spending 18 hours driving in circles, they can work on the business and science and management of their business and get out of their monotonous job," Torrie said.
"That's kind of the driver and one of the ways we filter the projects we take — are we really helping anyone reach their potential, or is it more damaging or hurtful or just entertainment? Those aren't the ones we're interested in, but if you keep a soldier from going into a cave and getting blown up or if you keep a guy off a tractor for 18 hours a day driving in a circle or get a guy off the assembly line . . . "
Humble beginnings
Despite its location along a dirt road, the 6-year-old company has come a long way since spinning off from a research group at the Center for Self Organizing and Intelligent Systems at Utah State University in 2000. ASI began inside a farm shed with a gravel floor but now has international reach and customers that include the U.S. Department of Defense, Northrop Grumman, Goodyear, John Deere and Lockheed Martin.
"We've got some pretty tough customers. The military is pretty demanding, but the biggest challenge is just knowing when to say, 'no,' " Torrie said.
Like when some folks called, wanting corn maze design automation. Or the people who wanted to set up races using real cars controlled by people through the Internet.
ASI could do it, if its bosses wanted to. Its systems — from autonomous to semi-autonomous to tele-operated — have an underlying Mobius software interface, allowing a person to hold a tablet PC with a pair of joystick handles to monitor and control robots' activities wirelessly. Other robots think for themselves, with sensors collecting information about the environment and the robot adjusting accordingly.
That's what attracted John Deere to CSOIS and the idea of a spin-off company that could help Deere with tractor automation. Torrie managed the robotics lab's automation group, "and I guess it all just fell into place."
Robot Scorpion Tom Smart, Deseret Morning News
ASI provided John Deere with tractors that could handle chemical spraying of orchards without having operators inside the vehicles. Eventually, ASI moved on to numerous tractors on open fields.
"You have a farmer with a laptop doing the whole operation from his office," Torrie said. "The only limit on the number of vehicles is the communication bandwidth.
"We've patented a couple of algorithms with John Deere that cover the multivehicle coordination and planning, so you just specify which field, and wherever the vehicle is, it plans a path that is optimized for fuel and will avoid the obstacles you know about and will stop if there is anything unknown in the way."
Branching out
ASI leveraged that work for development on other applications. Material handling — allowing machines to move stuff inside factories or warehouses — and open-pit mining automation were among them.
"We're working with a huge mining company to automate their mines and take the monster, three-story-high trucks and dozers and shovels and automate their whole system," Torrie said.
Along the way, the company developed military applications, as well.
"We have a vehicle that's bulletproof. It comes into this simulated town environment and the soldiers try to stop the vehicle, whether it's a suicide bomber or something else. They're shooting it with real bullets, and the vehicle counts the bullets then stops. We also have 50 mph Jeep targets, where F-15 airplanes will start chasing these Jeep Cherokees driving out in the desert and try to shoot them. No one's at risk, and they're getting some realistic testing," Torrie said.
Those Cherokees, by the way, often are being controlled through a joystick system some 30 miles away.
Video display helps operate robots produced by ASI, which is 6 years old. Uses for ASI's machines include under-vehicle bomb detection, bomb-disposal vehicles and driverless farm equipment.
ASI also has produced systems that can look for bad guys hiding in caves or buildings, conduct search-and-rescue operations in dangerous environments and check underneath autos while the robot operator is 100 to 1,000 yards away.
"We're into the Holy Grail of robotics, which are the three D's: dull, dirty and dangerous," said Paul Lewis, vice president of engineering and an ASI founder. "The opportunity to improve quality of life by getting people out of harm's way is a big draw. It helps our employees feel the importance of what we do, that we are trying to make people's lives better, whether it's in the military or in the commercial side."
Paying the price
Whether off-the-shelf or customized for the customer, ASI systems are expensive. Six bomb-disposal vehicles for Israeli police cost about $400,000 each. The under-vehicle inspection robot can cost $8,000 to $15,000. A robot called "Chaos" can cost $50,000 to $100,000, but its elongated, tracked wheels can act like legs to climb over obstacles, making it useful for search-and-rescue activities.
On the financial side, ASI has never run at a loss, with profits reinvested in the technology research and development. Its revenues and the number of employees — at 55 now — have basically doubled annually, and the company has turned down venture capital and offers from investment bankers to take the company public.
"We'd like to control our own destiny, at least for the time being, and be able to steer the ship where we want to go," Torrie said, adding that he also enjoys "being surrounded by brilliant people, some people who don't ever think inside the box."
"We definitely have a unique environment where we can do a lot of interesting things," Lewis said. "We're not your typical engineering company, that's for sure. We're working in a small office and trying to do a lot of different and innovative robotic things here in the middle of Utah.
"One of the unique things about us is that this is really a company where you want to work and you want to make it a place where you'll stay for a long time. We want it to be a place where you'll be happy to work for the rest of our lives."
New location
ASI's "middle of Utah" location will change a little this summer when it moves into different digs about 14 miles away. A new building there will house people from the current pair of Cache County operations, and the company will have 100 acres of varied landscape where it can test vehicles in a safe environment "away from competitors' eyes," Torrie noted.
Whatever the location, Torrie, for one, feels "incredibly blessed" to be working at a job that combines electrical, mechanical and software activities — a far cry from his one month of assembly-line work, a brainless operation of putting four screws into one treadmill after another eight hours per day.
"This career just had it all. All the pieces. You can't imagine a more fun, entertaining, enjoyable job to go to every day where you can play with remote control cars or anything you can think of," Torrie said.
"There are few people that love to go to work each day, and 'the sooner we get there, the better' kind of thing. We have really fun challenges, although they are difficult. To try to get the robot to think, be more intelligent, be safer, not to run over things, to get around things, to get the mission accomplished — that's just a great challenge.
"And taking any vehicle or designing one from scratch that goes by itself, it's just the ultimate tinkerer's kind of job."
E-mail: bwallace@desnews.com
http://www.deseretnews.com/dn/view/0,1249,635204999,00.html
"NASDAQ® anticipates implementing the proposed rule in connection with filings for periods ending on or after June 1, 2005. Delinquent filings prior to that period will not count towards the new rule. Therefore, upon implementation, no issuer would be made immediately ineligible from continued quotation on the OTCBB."
THREE STRIKES: OTCBB RULE WILL SUSPEND LATE FILERS FOR A YEAR
http://www.cwilson.com/newsletters/securities/slb-may05.htm
http://www.otcbb.com/asp/dailylist_detail.asp?mkt_ctg=OTCBB&d=04/24/2007
http://www.otcbb.com/asp/dailylist_detail.asp?mkt_ctg=OTCBB&d=04/24/2006
you are correct imo. but haven't they already blown 2 extended "NT" deadlines in the last 13 months?
http://www.otcbb.com/asp/dailylist_detail.asp?mkt_ctg=OTCBB&d=04/24/2007
http://www.otcbb.com/asp/dailylist_detail.asp?mkt_ctg=OTCBB&d=04/24/2006
missing a third "NT" extended filing deadline might invoke the rule.
THREE STRIKES: OTCBB RULE WILL SUSPEND LATE FILERS FOR A YEAR
http://www.cwilson.com/newsletters/securities/slb-may05.htm
How does the three strikes ineligibility rule work in practice?
Pursuant to NASD Rule 6530(e), any OTCBB issuer that is delinquent in its reporting obligations three times in a 24-month period and/or is actually removed from the OTCBB for failure to file two times in a 24-month period is ineligible for quotation on the OTCBB for a period of one year. For a security to be eligible for quotation on the OTCBB, NASD Rule 6530 requires, in part, that the issuer of the security is required to file reports with the Commission or that the issuer of the security is a bank or savings associations (or holding company for such entities) that is not required to file reports with the Commission and, instead, makes filings with its applicable regulator. In addition to the foregoing, the issuer of the security must be current in its reporting obligations, subject to a 30 or 60 day grace period, as applicable. An OTCBB issuer will be deemed delinquent in its reporting obligations if the issuer fails to make a required filing when due or has filed an incomplete filing. In order for a filing to be complete, it must contain all required certifications and have been reviewed or audited as applicable, by an accountant registered with the Public Company Accounting Oversight Board.
http://www.otcbb.com/faqs/otcbb_faq.stm
6530. OTCBB-Eligible Securities
A member shall be permitted to quote the following categories of securities in the Service:
(a) any domestic equity security that satisfies the requirements of subparagraph (1) and either subparagraph (2) or (3) or (4) below:
(1) the security is not listed on a national securities exchange in the U.S., except that an equity security shall be considered eligible if it:
(A) is listed on one or more regional stock exchanges, and
(B) does not qualify for dissemination of transaction reports via the facilities of the Consolidated Tape; and
(2) the issuer of the security is required to file reports pursuant to Section 13 or 15(d) of the Act or the security is described in Section 12(g)(2)(B) of the Act, and, subject to a thirty calendar day grace period, the issuer of the security is current in its reporting obligations, or
(3) the security is described in Section 12(g)(2)(G) of the Act and, subject to a sixty calendar day grace period, the issuer of the security is current in its reporting obligations, or
(4) the issuer of the security is a bank or savings association (or a holding company for such an entity) that is not required to file reports with the Commission pursuant to Section 13 or 15(d) of the Act and, subject to a sixty calendar day grace period, the issuer of the security is current with all required filings with its appropriate Federal banking agency or State bank supervisor (as defined in 12 U.S.C. 1813).
(5) The grace periods set forth in paragraphs (a)(2), (a)(3) and
(a)(4) above shall be calculated from the date notice is published on the OTCBB Daily List that the symbol of a delinquent issuer will be modified.
(b) any foreign equity security or American Depositary Receipt (ADR) that meets all of the following criteria:
(1) the security is registered with the Commission pursuant to Section 12 of the Act and the issuer of the security is current in its reporting obligations; or the security satisfies the requirements of paragraph (a)(2) or (3) or (4) above; and
(2) the security is not listed on a national securities exchange in the U.S., except that a foreign equity security or ADR shall meet this subparagraph (2) if it is:
(A) listed on one or more regional stock exchanges, and
(B) does not qualify for dissemination of transaction reports via the facilities of the Consolidated Tape.
(c) any equity security that meets the following criteria:
(1) the security is undergoing delisting from either the New York Stock Exchange, Inc. (NYSE), The NASDAQ Stock Market LLC (Nasdaq), or the American Stock Exchange, Inc. (AMEX) for non-compliance with maintenance-of-listing standards; and
(2) the security is subject to a trading suspension imposed by the NYSE, Nasdaq, or AMEX preceding the actual delisting; and
(3) the security satisfies the requirements of paragraph (a)(2) or (3) or (4) above.
(d) any Direct Participation Program as defined in Rule 6910 that is not listed on a national securities exchange in the U.S. and that satisfies the requirements of paragraph (a)(2) or (3) or (4) above.
(e) Notwithstanding the foregoing paragraphs, a member shall not be permitted to quote a security if:
(1) while quoted on the OTCBB, the issuer of the security has failed to file a complete required annual or quarterly report by the due date for such report (including, if applicable, any extensions permitted by SEC Rule 12b-25) three times in the prior two-year period; or
(2) the security has been removed from the OTCBB due to the issuer's failure to satisfy paragraph (a)(2), (3) or (4), above, two times in the prior two-year period.
If an issuer’s security becomes ineligible for quotation on the OTCBB pursuant to paragraph (e)(1) above, the security will be removed from quotation on the OTCBB without the benefit of any grace period for the third delinquency, except that NASD will provide seven calendar days from the date notification is mailed to the issuer pursuant to paragraph (f)(1) to permit an aggrieved party to request a review of the determination by a hearing panel pursuant to paragraph (f) below. Following the removal of an issuer's security pursuant to this paragraph (e), such security shall not be eligible for quotation until the issuer has timely filed in a complete form all required annual and quarterly reports due in a one-year period. For purposes of this paragraph, a report filed within any applicable extensions permitted by Rule 12b-25 under the Exchange Act will be considered timely filed. Furthermore, filings for reporting periods ending before October 1, 2005 will not be considered for purposes of this paragraph (e).
(f) (1) Upon determining that an issuer’s security would be ineligible for quotation under this rule, NASD will send a notification to the address on the cover of the issuer’s last periodic report. This notification will state the date upon which the security will be removed, following any applicable grace period, unless the condition causing the ineligibility has been cured by that date. When a security becomes ineligible for quotation pursuant to paragraph (e) above, however, the issuer may not cure the condition that caused the ineligibility. In all cases, NASD will provide at least seven calendar days from the date the notification is mailed to the issuer to permit an aggrieved party to request review pursuant to paragraph (f)(2) below, before removal of the security.
(2) Pursuant to the Rule 9700 Series, as modified herein, an aggrieved party may request a review by a hearing panel of the determination that an issuer’s security is ineligible for quotation under this rule. NASD must receive the request for review at least two business days prior to the scheduled removal of the security, together with a $4,000 hearing fee payable to NASD to cover the cost of review. A request for review under this paragraph (f)(2) will stay the removal of the issuer’s security from the Service until the hearing panel issues a decision under Rule 9750. The hearing panel will consider only the issues of whether the issuer’s security is then eligible for quotation in the Service and/or whether the issuer filed a complete report by the applicable due date taking into account any extensions pursuant to Rule 12b-25 under the Exchange Act. The hearing panel shall not have discretion to grant any extensions of time for ineligible securities to become eligible. Notwithstanding any contrary provision in the Rule 9700 Series, hearings will be conducted via telephone and NASD will provide the aggrieved party at least five business days notice of the hearing unless the aggrieved party waives such notice.
(3) The aggrieved party may request a review of a hearing panel’s decision under Rule 9760. Such a request for review must be accompanied by a $4,000 fee payable to NASD to cover the cost of review. This review will only consider whether the issuer’s security, at the time of the initial review under paragraph (f)(2), was eligible for quotation in the Service and/or whether the issuer filed a complete report by the applicable due date taking into account any extensions pursuant to Rule 12b-25 under the Exchange Act. A request for review under this paragraph (f)(3) shall not stay the removal of the issuer’s security from the Service and there will be no discretion to grant extensions of time for ineligible securities to become eligible. Notwithstanding any contrary provision in the Rule 9700 Series, a review under this paragraph (f)(3) will be based on the written record, unless additional hearings are ordered. If any further hearings are ordered, the hearings will be conducted via telephone and NASD will provide the aggrieved party at least five business days notice of the hearing unless the aggrieved party waives such notice.
http://nasd.complinet.com/nasd/display/display.html?rbid=1189&element_id=1159000863
wouldn't that be their third strike, under the new OTCBB rule?
maybe he thought it was Reg FU?
semi-OT: Braintech Reports Operating Profit
VANCOUVER, BC -- (MARKET WIRE) -- May 14, 2007 -- Braintech, Inc. (OTCBB: BRHI), a leading provider of Vision Guided Robotic ("VGR") software technologies, announced today that it has generated an operating profit for the three month period ended March 31, 2007.
Ted White, Braintech's Chief Financial Officer explained: "For the three month period ended March 31, 2007, we achieved an operating profit of $57,304 compared to an operating loss of $482,049 for the three month period ended March 31, 2006. Although not significant in terms of magnitude, it is very significant in that it marks the first time that operating revenues have exceeded operating expenses. It also is significant in that it marks another step in the development of Braintech from a pure research and development company to a continuously profitable corporation. For the three month period ended March 31, 2007, we reported non-operating expenses of $683,208 of which $643,968 were non-recurring financing expenses. For the three month period ended June 30, 2007, we expect that operating revenues and operating expenses will be nearly equal and that non-operating expenses will be approximately $40,000. We expect to generate a net income in each of the three month periods ended September 30, 2007 and December 31, 2007."
About Braintech: www.braintech.com
Disclaimer
Statements in this document that are not purely historical are forward-looking statements and reflect the current views of management with respect to future events and are subject to certain risks, uncertainties and assumptions. Forward-looking statements in this news release include the statement that Braintech is developing into a continuously profitable operation and the expectation that for the three months ended June 30, 2007 operating revenues and operating expenses will be nearly equal, that non-operating expenses will be approximately $40,000 and that the Company will generate a net income in each of the three month periods ended September 30, 2007 and December 31, 2007. It is important to note that the Company's actual results could differ materially from those in such forward-looking statements. Factors that could cause actual results to differ materially include risks and uncertainties such as technical difficulties in developing the products; competition from other suppliers of similar products; pricing that may not be acceptable to potential markets; and many other known and unknown factors. Readers should also refer to the risk disclosures outlined in the Company's 10-KSB and 10-QSB Forms filed from time to time with the SEC.
Distributed by Filing Services Canada and retransmitted by Market Wire
Contact Information:
Owen Jones
Braintech Inc.
#102 - 930 W 1st Street
Vancouver, BC
V7P 3N4
(604) 988-6440 x 200
Email Contact
SOURCE: Braintech Inc.
http://www.marketwire.com/mw/release_html_b1?release_id=251899