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Is that company in business still..?
Can't find where the stock trades anymore..?
Rumor has it....
.....that JG was at the Kentucky Derby and hand delivered a message to the Queen to bring back to the Torotrak CEO...
it's all good....
Another observation....
UBS has been more active lately ..seemingly trying to hold the trading range from running....as I write this, they are sitting on the bid and the ask and have been in that position a fair amount of late...
Interesterting trading in TOVC today....
Looks like someone wanted to or needed to get their hands on about 20,000 shares around 2:05 EST today...perhaps there is stuff happening that would produce buy side activity...now there's a nice juicy 19 cent spread...
Do I hear $4 a gallon anyone....??
Watch Out: Here Comes $4 Gasoline
By Steve Hargreaves, CNNMoney
NEW YORK (April 26) -- Gasoline prices, already above $3 a gallon in some states, could charge higher this summer and hit $4 a gallon in some locations, according to one industry expert.
While gas prices continue to creep up, ninety-two percent of 50 economists surveyed said the increases were having only a "minor impact" on the economy in the first half of the year.
Pump prices were supposed to peak below $3 a gallon this May, then drop off before the summer driving season got into full swing, according to the Energy Department's price forecast.
Well, we're not even out of April yet, and the nationwide average price for a gallon of unleaded regular has hit $2.87.
One big factor driving prices: gasoline inventories continue to fall. After a promising one-week boost in refining activity, the latest report Wednesday actually shows refining activity falling. And demand is already soaring, before the summer driving season is in full swing.
What this means for prices is obvious, and to most drivers it is not good news.
"More and more communities are going to see gasoline that approaches or exceeds $4 a gallon," said John Kilduff, an energy analyst at Man Financial in New York. "Where we're currently at with prices, that's a given."
While geopolitical tensions have driven up the cost of crude oil, which accounts for about half the cost of a gallon of gas, refinery problems here in the United States are largely to blame for the price jump.
Five states - California, Hawaii, Oregon, Washington and Nevada - already have average prices above $3 a gallon, according to the motorist organization AAA. In California, the average price of gas has reached $3.35 a gallon.
More at CNNMoneyKilduff said it will be in those states, and possibly New England and the northern Midwest, where prices have the best chance of hitting $4 a gallon, mostly as a result of localized refinery problems.
And he thinks prices will have no trouble breaking the old non-inflation-adjusted record of $3.057 a gallon, hit in 2005 just after Hurricane Katrina.
Up, up and ...
Retail gas prices have been climbing steadily as one refinery outage after another crimped production and U.S. drivers consumed ever more in spite of rising prices.
By early this week, retail prices had risen 32 percent since the start of the year, according to the Lundberg Survey.
And the Energy Information Administration said Wednesday that gasoline supplies, which have fallen 13 percent since early February, were "well below the lower end of the average range."
Moreover, EIA reported refinery utilization fell, with refineries running at only 87.8 percent of capacity last week.
Traders had been watching that number, and gasoline future prices fell sharply last week, when refinery activity jumped for first time in several weeks.
But Tuesday's refining news caused gasoline futures to spike more than 5 cents a gallon to $2.27, their highest price since last August, lessening the chances retail prices will fall anytime soon.
An EIA analyst, who forecast a high of $2.87 just two weeks ago, couldn't say if the agency's next forecast, due out May 8, will be revised higher, although it seems likely.
"Obviously, April is not progressing as we had hoped," said EIA economist Tancred Lidderdale. "We're continually humbled by the market."
Nice MM action this morning...
The spread was 4.01 bid and 4.02 ask......a few minutes later the bid drops to 3.55 and the ask goes to 4.05....
Hi beach...
Shortsqueeze.com updates the published short position info once a month usually around the 24th or 25th of the month...
The published TOVC short position for April....
Is almost exactly the same as last month...800 shares less
TOVC $
Torvec Inc.
Shares Short 151,400
Days to Cover (Short Ratio) 17.0
Short % of Float 0.90 %
Shares Short - Prior 152,200
Short % Increase / Decrease -0.53 %
Squeeze Ranking™ 21
% from 52-Wk HIGH ( 6.60 ) %
% from 52-Wk LOW ( 1.52 ) %
% from 200-Day MA ( 4.56 ) %
% from 50-Day MA ( 4.28 )%
Price % Change (52-Wk) 136.90 %
Trading Volume - Today 35,803
Trading Volume - Average 8,900
Trading Volume Vs. Avg. 402.28 %
Total Shares - Float 16,910,000
Total Shares - Outstanding 31,367,039
% Held by Insiders 72.50 %
% Held by Institutions 0.10 %
Market Cap 120,763,097
EPS -0.26
PE Ratio
Sector: Consumer Goods
Industry: Auto Parts
SI Record Date 2007-Apr
This appears to be humming along.....too bad Iacocca's 80...he probably could have turned it around again...
Updated:2007-04-19 15:07:14
Chrysler Sale Could Be Done by May
By Michael Shields
Reuters
FRANKFURT (April 19) - DaimlerChrysler could wrap up a sale of its ailing U.S. arm Chrysler as early as next month, a source familiar with the situation said on Thursday.
The source said the talks would not produce a deal in time to present it to the carmaker's supervisory board this month. "This will take some time. There are a lot of aspects to take into account," he said.
German workers' representatives on the carmaker's supervisory board are not opposed in principle to selling Chrysler as long as the buyer agrees to protect as many jobs as possible, sources familiar with the board's thinking said.
That contrasts with comments on Wednesday by Ron Gettelfinger, head of the powerful U.S. United Auto Workers union, that the UAW opposed any sale of Chrysler and enjoyed lots of support from the supervisory board, of which he is a member.
"We have always said we want a solution that preserves jobs, both here and there. We have never favored any particular option" on what to do with Chrysler, one person said.
Bidders
Sources have told Reuters that bidders for Chrysler include private-equity firms Cerberus Capital Management, Blackstone Group and Canadian auto parts maker Magna International Inc.
Billionaire Kirk Kerkorian has also made a $4.5 billion bid.
Gettelfinger, who told reporters on Wednesday he has met potential Chrysler buyers, said the UAW was opposed to any bid from "strip-and-flip" investors, using a pejorative reference for leveraged-buyout firms.
"I am very concerned about equity companies moving more and more into the industry," he said. "They are hovering overhead right now."
One source close to the carmaker said the board would not necessarily block an offer from a private-equity investor as long as the buyer guaranteed jobs at Chrysler.
"I don't think you can say every private-equity firm is a devil. There are some that act in a way that we reject and others that are all right," the source said.
Rival U.S. carmaker General Motors (GM.N), on the other hand, never stood a chance to buy Chrysler because workers' representatives knew such a purchase would have triggered mass layoffs, the source said.
DaimlerChrysler Chief Executive Dieter Zetsche said in February all options were open for Chrysler, which lost nearly $1.5 billion in 2006 as buyers shifted away from the light trucks and sport utility vehicles that generated two-thirds of its total sales.
Chrysler plans to cut 13,000 jobs as it seeks to return to profitability by 2008.
Hi dyna....
Surely you've sold your Torvec shares by now....given that everything is roughly ten years away...
Gob Bless America.......
That CEO update is very direct...
seems to saying...."relax and enjoy the ride"
Interesting....
Alot of firsts that apparently didn't take them to the finish line...Sometimes being first makes you the winner.... sometimes it's being better, lighter, quicker, less costly, fewer parts, more efficient...once you have that it's then the "art of the deal"...(no pun intended artguy..LOL)
Hey...I know a company that fits that description.....
I would imagine that Torvec has heard a few of these over the years...
Ever hear of these Predictions? Famous Last Words?.........
"Man will never reach the moon regardless of all future scientific advances." -- Dr. Lee DeForest, "Father of Radio & Grandfather of Television."
"The bomb will never go off. I speak as an expert in explosives." - - Admiral William Leahy, US Atomic Bomb Project
"There is no likelihood man can ever tap the power of the atom." -- Robert Millikan, Nobel Prize in Physics, 1923
"Computers in the future may weigh no more than 1.5 tons." -- Popular Mechanics, forecasting the relentless march of science, 1949
"I think there is a world market for maybe five computers." -- Thomas Watson, chairman of IBM, 1943
"I have traveled the length and breadth of this country and talked with the best people, and I can assure you that data processing is a fad that won't last out the year." -- The editor in charge of business books for Prentice Hall, 1957
"But what ... is it good for?" -- Engineer at the Advanced Computing Systems Division of IBM, 1968, comm enting on the microchip.
"640K ought to be enough for anybody." -- Bill Gates, 1981
"This 'telephone' has too many shortcomings to be seriously considered as a means of communication. The device is inherently of no value to us," - Western Union internal memo, 1876.
"The wireless music box has no imaginable commercial value. Who would pay for a message sent to nobody in particular?" -- David Sarnoff's associates in response to his urging for investment in the radio in the 1920s.
"The concept is interesting and well-formed, but in order to earn better than a 'C,' the idea must be feasible," -- A Yale University management professor in response to Fred Smith's paper proposing reliable overnight delivery service. (Smith went on to found Federal Express Corp.)
"I'm just glad it'll be Clark Gable who's falling on his face and not Gary Cooper," -- Gary Cooper on his decision not to take the leading role in "Gone With The Wind."
"A cookie store is a bad idea. Besides, the market research reports say America likes crispy cookies, not soft and chewy cookies like you make," -- Response to Debbi Fields' idea of starting Mrs. Fields' Cookies.
"We don't like their sound, and guitar music is on the way out," -- Decca Recording Co. rejecting the Beatles, 1962.
"Heavier-than-air flying machines are impossible," -- Lord Kelvin, president, Royal Society , 1895.
"If I had thought about it, I wouldn't have done the experiment. The literature was full of examples that said you can't do this," - -Spencer Silver on the work that led to the unique adhesives for 3-M "Post-It" Notepads.
"Drill for oil? You mean drill into the ground to try and find oil? You're crazy," -- Drillers who Edwin L. Drake tried to enlist to his project to drill for oil in 1859.
"Stocks have reached what looks like a permanently high plateau." - - Irving Fisher, Professor of Economics, Yale University, 1929.
"Airplanes are interesting toys but of no military value," -- Marechal Ferdinand Foch, Professor of Strategy, Ecole Superieure de Guerre, France.
"Everything that can be invented has been invented," -- Charles H. Duell, Commissioner, US Office of Patents, 1899.& nbsp;
"The super computer is technologically impossible. It would take all of the water that flows over Niagara Falls to cool the heat generated by the number of vacuum tubes required." -- Professor of Electrical Engineering, New York University
"I don't know what use any one could find for a machine that would make copies of documents. It certainly couldn't be a feasible business by itself." -- the head of IBM, refusing to back the idea, forcing the inventor to found Xerox.
"Louis Pasteur's theory of germs is ridiculous fiction." -- Pierre Pachet, Professor of Physiology at Toulouse, 1872
"The abdomen, the chest, and the brain will forever be shut from the intrusion of the wise and humane surgeon," -- Sir John Eric Ericksen, British surgeon, appointed Surgeon-Extraordinary to Queen Victoria
1873.
And last but not least... "There is no reason anyone would want a computer in their home." -- Ken Olson, president, chairman and founder of Digital Equipment Corp., 1977
They're Ram Tough.........
I just get all excited when anyone even mentions the word shorting...
LOL
Did someone say shorting....??
Thanks for your insight hebgb...
"I don’t see how the Gleasman’s experience can put them in a unique position to know what ‘production ready’ means." ....I do see it...we'll agree to disagree...
"If the Gleasman’s are the only people on the planet to know what production ready means, this excludes all the Vice Presidents of transmission companies around the world in charge of production."......all I said was they know what production ready is and Torvec has 8 or 9 different technologies besides the IVT that are essentilally production ready....this isn't just about the transmission.....and it's not about some company simply buying Torvec's patents....
I disagree with your "most likely route" theories...I'm content watching what I discribed in my earlier post unfold...
This 8k filing just popped up...
Item 8.01 Other Events.
On April 5, 2007, an order was entered by the Supreme Court, Seventh Judicial District, in connection with the company’s declaratory judgment action against CXO On The Go LLC and CXO On The Go of Delaware LLC (CXO) directing the Monroe County Clerk to release to the company 40,000 shares of the company’s common stock and 245,000 common stock purchase warrants which had previously been issued to the Clerk. The Court also ordered the Monroe County Treasurer to return to the company $250,000 previously deposited as an undertaking in connection with this litigation. This order effectuates the decision of the Appellate Division, Fourth Department rendered in favor of the company on March 16, 2007.
As a result of the Court’s order, the number of company’s outstanding common stock has been reduced by 40,000 shares and the aggregate number of outstanding common stock warrants has been reduced by 245,000 warrants. In addition, the company intends to repay its $250,000 indebtedness to a shareholder who had advanced such monies on behalf of the company.
The company has also filed a new lawsuit against CXO in the Supreme Court, Seventh Judicial District, alleging that it has been damaged in excess of $6 million by such management consulting firm. The company alleges that such harm was caused by the failure of CXO to fulfill its obligations to the company, breach of contract, breach of fiduciary duty, fraud, conversion, unjust enrichment and by fraudulently inducing the company enter into a series of purported agreements by which the management consulting firm was paid amounts far in excess of the benefits derived from its services.
The company is demanding that CXO pay at least $6 million in damages to the company for the harm it caused.
Hello Lhasa...
In some respects it's apples and oranges comparing the strategies of Torotrak and Torvec. From what I can see, Torotrak has from the start embarked on a licensing strategy via OEMS or the Automakers directly, which appears to tie up the technology for years....thats one way to go and it's a very long one as you know...
Torvec has chosen to utilize the production ready aspect of it's technologies to present them for a few differing strategies...
1) Sale of the entire company in a stock or stock and cash transaction
2) Sale of a technology in a stock or stock and cash transaction
3) Position themselves for the possibility of producing technoligies in their portfolio for direct sale
Dread has made this point before and I agree with it...the Gleasman's experience from the original Torsen puts them in a unique position of understanding what "production ready" really means...does that mean there won't be some tweaks and some QC work done on an acquiring company's end.....sure there will...but I think the "exit" potential for investors in Torvec has better odds for the return we seek...it's been a long route to this point for Torvec as well, but I think, as do others , that the company is well positioned to execute one of the 3 moves listed above...
While none of us knows the end game for either TOVC or TRK, I prefer the strategic route taken by Torvec thus far...
I hope both do well....
and...
with all that they've spent (billions), they still are saying that it would would be impossible to deliver that level of efficiency..
I'm in awe....
Thank God you're here to provide this type of analysis for your fellow shareholders....spoken like a true shareholder...it is apparent that we need someone to protect us from ourselves and if it weren't for you, I'm not sure any of us would have picked up on the fact that the company has absoluteley nothing going on....and it only took a minute...
Thank you...
Happy Easter to all...
Good point....
OT - How were the Marley's.....? Bob and the Wailers stuff is pretty much timeless...
My thoughts on your "drop in" question..
This is probably one you should call the company on, but my take on it is that drop in means that a specific size IVT can fit a wide range of vehicles and hence be "dropped in"...
I don't think you could take an IVT sized for a school bus and "drop it in" a Dodge Neon...there would be a sized IVt for that size class of vehicle which would allow for the drop in to occur across similarly sized vehicles with little or no modifications...
someone please correct me if I'm I am missinterpreting the concept...
Zendo..
i think everyone is off hiding Easter Eggs...it's you and me...LOL
"Where are the columns of figures one of which should be acct's receivable?" ....this filing is the 2006 Annual report. 07 revenues willnot be found in the 2006 10K. If the company were to invoice for something during 2007, it will show up as a receivable or revenue in a quarterly during 2007...the 2007 Q1 10Q comes out around late May if I am not mistaken.
I agree...
It could be any number of Tier 1's.....given the nature of confidentiality statements in these relationships, the world wouldn't know who until an annoucement is made.
Zendo...
"However, it can not predict when such a transaction will be consummated and therefore, the company does not know whether it will generate revenues from its business activities during fiscal, 2007."
This is the type of wording that Sarbanes Oxley requires companies to use in their filings...companies today are required to portray worst case scenarios...
as for where did the money for the NASA deal go...who knows if the process has even produced invoice #1 yet....?
I just pulled up.....
.....a youtube video of son guy spray painting the Eaton Center and then running away screaming something about jello and hydraulic fluid......
Still going through the report....will take a while..
I've only gotten through about $15,000 worth....LOL
Sarbanes Oxley costs public companies alot of dough for these certified , audited financials, but the shareholder should have some comfort in knowing how closely the wording in these filings are scrutinized...
That one confuses me a little...
What was that whole news piece by Petrenko for last year...?
On another note....the company's cash position, while still no amount is ever enough, is vastly improved from last year...
These few paragraphs from your post contain info worth noting...
"Similarly, the company has been requested to provide a quotation to a major U.S. municipality for installation of its generation III transmission and IsoTorque differential in that municipality’s fleet of trucks and buses. This process entails reviewing the design, torque, sizing, durability and similar specifications for these vehicles as provided by the municipality and modifying the transmission and IsoTorque differential to meet such requirements.
As a further illustration, a large manufacturer is interested utilizing the company’s constant velocity joint, transmission and IsoTorque differential technology to enable the manufacturer qualify its vehicle design for a major production contract. This is requiring the company to analyze the vehicle design specifications provided to it by the manufacturer and adapt its technologies to meet the production contract’s requirements.
The company is presently engaged in making the modifications necessary to accommodate the vehicle specifications required by various end-users with whom the company has working relationships and/or arrangements. The company anticipates that additional end-users will be interested in pursuing similar-type working relationships with respect to the company’s automotive technologies.
After the company’s technologies have been validated with respect to specific end-user vehicle applications, it is anticipated that one or more end-users will enter into licensing agreements, supply contracts and/or similar arrangements resulting in the profitable commercialization of the company’s technologies. One or more end-users may also seek to acquire all of the company’s automotive technologies by an outright purchase of the company using cash, stock or a combination of stock and cash as the consideration for such purchase."
vkeady...
since you are looking for very technical answers to support your decision to invest or not in Torvec, you may want to call Torvec and ask one of the Gleasman's to assist you in your understanding of the technology....they have always encouraged that type of contact...
as good as speedway is at the tech side, he's not going to be able to answer every question...give them a call ...
Over the years....
there have been a handfull of people who can articulate how Torvec's tech works....you are one of them....thanks for taking the time to detail this info for everyone...it is very helpfull.....
From a filing this morning....
"The company is awaiting final approval of the Form 10-K from all its directors and executive officers. The company anticipates it will file the Form 10-K shortly."
Ausgeseignet...!!
Die Zeitung hast ein frankfurter auf den armbanduhr.....
Which I think means....The newspaper has a hotdog on the wrist watch.............
I'm guessing you won't be needing me for the translation exercise...
Well said yet again dread...
Have a nice weekned everyone...
Well stated...
Since it wasn't apparent to the shareholders what was done to earn those warrants which were over and above what they had already recieved....their better be more things on the list than the website upgrade...
Then throw in a little mixture of legality of contract and sprinkle in some unanimous reversal and a pinch of fraud and inducement pursuit and I have a hard time seeing this as anything but positive for Torvec...
Hi allnumbers...
The filing that is schedlued to come out isnot a quarterly, it's the 10k, which will reflect what happened during 2006. Things that occur during Q1 of 2007 will be included in the 10Q for Q1 of 2007. I think that comes out in a few months...
LOL...
You are correct...I'm off the pipe...
Leit's not appreciating my humor...oh well...