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Wednesday, November 23, 2005
An Open Letter To NASAA
(Note: If this letter resonates with you, I would suggest that you send it to your State Regulator, your elected officials, and the SEC.)
----------------
North American Securities Administrators Association, Inc. (NASAA) 2005-11-23750
First Street, N.E., Suite 1140
Washington, D.C. 20002
To the members of NASAA:
Ladies and Gentlemen of NASAA, thank you for taking the critical step of holding a conference focused on Naked Short Selling (in Washington, D.C. on Nov. 30). I am pleased that there is recognition at the state level of a pervasive, dangerous problem in our markets, and that NASAA is taking the lead in addressing this issue with this groundbreaking meeting, featuring an august panel of authorities. I have no doubt that it will be productive.
As I read your news release, I noted verbiage congratulating the SEC on their passage of Reg SHO. I presume that was a gracious tip of the hat to that agency, rather than a statement of the States' sentiment on the efficacy of Reg SHO. As I am sure you will hear during your meeting, the position of many outside of Federal regulatory chambers is less positive when discussing the agency's performance on this issue.
With that in mind, let me offer an observation or two about the SEC and Reg SHO, from the perspective of a shareholder advocate immersed in the subject.
Reg SHO A Provable Failure
My first observation is that Reg SHO has been a provable failure in curtailing this illegal and destructive manipulation tactic.
Provable, as naked short selling continues to be rampant - one glance at the infamous Reg SHO Threshold List turns up quite a few companies that have been on that list for approaching the entire year it has been published - a virtual impossibility if Reg SHO's rules were being adhered to or enforced, or if the rules themselves actually achieved any desirable effect.
To make matters confusing for many, all naked short selling is not illegal - some naked short selling is actually permitted under Reg SHO, which specifically allows many different entities to do so, with the SEC’s full support - even for companies on the Reg SHO List. As an example, NYSE specialists can not only naked short sell, but can maintain the unsettled trade for months, with the Exchange's blessing. Of course this blessing is given in secret, and nobody is told that it has taken place.
How can naked short selling be eliminated with loopholes like this? How do ordinary investors or victim companies benefit from these sweetheart deals and exceptions, which literally enable a host of participants to print an endless supply of stock at will? With specialists and market makers and foreign financial institutions all able to naked short sell legally, what real obstacle does Reg SHO present for a motivated fraudster with decent resources?
I think it is safe to say, after almost a year of ineffectiveness, that Reg SHO is worse than useless. I have yet to see a shred of evidence that it has achieved anything positive for investors, or the companies naked short sellers (market manipulators, really) target. On the contrary, it has created an environment where the practice is officially condoned and protected by federal regulators - via the numerous exceptions to the anti-naked short selling rules, the non-penalties for violation of the rules, and perhaps most onerous, Reg SHO's grandfathering provision. Which brings me to the second observation I'd like to tender:
What Purpose Does Grandfathering Achieve In Reg SHO?
My second observation is that the "grandfathering" provision of Reg SHO violates Rule 17A - the Congressional mandate to clear and settle ALL trades in a prompt manner (including transfer of record ownership). While the SEC can apparently choose to disregard Congressional mandates, a fair question is what useful purpose is served by grandfathering, and who benefits/is protected?
The SEC's James Brigagliano admitted that the SEC grandfathered unsettled trades due to volatility concerns, which is a euphemism for wanting to avoid short squeezes - legitimate run-ups in price caused by unsettled trades being bought-in, returning the victimized stocks to levels consistent with genuine supply and demand. Why this upside volatility is to be avoided, and yet the downside volatility arising from naked short selling is rewarded by being grandfathered, is unclear, other than that it would place a financial hardship on naked short sellers.
Why it is acceptable for investors to be subjected to downside volatility from these "bear raids", and yet those violating the rules should be protected from upside volatility, remains a mystery. Perhaps Mr. Brigagliano can speak to this double standard, as well as help us all understand the desirability of limiting upside volatility/return to fair value, and protecting downside volatility/perpetually depressed prices by sanctioning a pool of failed trades which can remain undelivered in perpetuity.
Need For Clear Language and Clear Thinking
My third observation is that the language used by Wall Street to describe the offense is a deliberate obfuscation, designed to confuse the issue and make it less understandable for the layman. I think that is wrong, and needs to end. I'm not talking about rare episodes where certificates get lost, or the dog ate them, or someone died after making a trade and failed to mail their cert. When most investors use the term naked short selling, or failing to deliver, we mean deliberate selling of stock without delivering, in order to manipulate the price.
Stock manipulation is a time honored Wall Street tradition. In the 1900's to 1930's, stock manipulation "pools" were common, and share counterfeiting was well understood - the term for it was "watered stock" - unscrupulous manipulators then, as now, used share counterfeiting and naked short selling to create drops in stock prices, creating windfalls from their short positions. Some attribute much of the 1929 Crash's precipitous severity to this practice. Back then everyone understood that counterfeiting a stock certificate and delivering it in place of the genuine article was fraud - nobody argued that. Everyone also understood that taking money for a trade, and never delivering the stock, was also fraud. It is only recently that our moral compass was knocked out of kilter, and the terms failing to deliver and naked short selling were offered as descriptors. This less specific language was introduced and put into play, and soon selling something you didn't own was a delivery failure, a niggling little oversight, a licentious-sounding faux pas, a forgivable speed bump on a fast moving road.
Enough is enough. Let's start using appropriate terms for the acts that are being discussed, not flowery euphemisms devoid of any meaning for the average person.
The act of illegal naked short selling is simple fraud. Money is exchanged for shares, which aren't delivered. It is actually very straightforward at its essence - sales transactions are processed in order to cap or depress a stock's price, money changes hands, the participants are all paid their commissions, but the product is not delivered.
Why does our system, and our regulatory mechanism, have a lexicon of special terms which serve to disguise the nature of this fraud? Why don't we stop calling it naked short selling, or failing to deliver, and call it what it actually is: Fraudulent Stock Trades?
And why is the size and scope of this fraudulent activity kept secret? Who is served by this other than the fraudsters? Why does an entire system conceal the extent of the fraud, and why do our regulatory bodies accommodate this sham? Would we keep the number of bank robberies secret? The number of currency counterfeiting incidences secret? Why do we keep the number of Fraudulent Stock Trades secret, and why can't investors and companies get straight answers as to the number of transactions in their stocks that are fictions - frauds designed to depress their stock's price?
I think that if we use simple, accurate terminology, everyone can better appreciate what is occurring. When you advertise something for sale, take money for it, lower the selling price in the market by artificially creating an illusion of supply, and then don't deliver the item, that is fraud - and the motive is profit. Everyone can understand that. No need to soften it up so it is less repellent or ugly. We all understand defrauding folks for profit, and that it is illegal in every instance we can think of.
So let's just call it what it is: Fraudulent Stock Trades - FST.
Reg SHO Is Ineffective As A Prophylactic
Reg SHO is useless for protecting investors and victim companies. Gentlemen like Dr. Patrick Byrne and his father can't get confirmation of delivery of their shares for months, due specifically to fraudulent stock trades in OSTK, and neither Reg SHO nor the SEC have done a thing to protect them, nor any other shareholders, from those who knowingly and willfully abuse the rules. Because of the Byrnes' profile, this travesty receives visibility, but if not for their willingness to expose the hypocrisy and lack of enforcement that is the SEC's norm in this area, shareholders would continue to be routinely violated in silence. That is deplorable.
Reg SHO has failed in its essential purpose, and sections of it violate Congressional mandates, so it is inappropriate to view it as any sort of a solution.
The number of FSTs has remained in the centi-million per day range before and after SHO (per multiple FOIA disclosures cited in The Pipes Report, September 15, 2005), proving that the rule has had no measurable deterrent effect in curtailing this threat to our markets. The conceit that a pilot program is required to measure this lack of effect while investors continue to be robbed by unscrupulous participants who use FSTs as a trading strategy is insulting - the SEC fights any disclosure of the size of the problem, delays and stalls any meaningful reform by killing effective rules (like the NASD amendment intended to replace NASD rules 11830 and 3210, which WAS having an effect when implemented in early 2004, until supplanted by Reg SHO), and in general behaves more like an agency attempting to run interference for the industry it is chartered with regulating, rather than an agency attempting to make a good faith effort to address a crisis with the markets. This begs a critical and mystifying question:
Why All The Secrets?
The cult of secrecy surrounding the relatively mundane task of clearing and settling stock trades is alarming, and one must question the requirement for the existent opacity in the system, and ask who is served by this lack of transparency? Why is it desirable or necessary to keep the level of FSTs in a specific stock secret? Why does the plumbing of the system require the cloak of darkness to operate? What is being covered-up with self-important rules mandating secrecy? If millions of shares of a particular stock are being FST'd, who besides the market manipulators are shielded by keeping the information hidden from public view? Since when did understanding how many investors have been defrauded out of their funds, thinking they had purchased and received shares but instead received nothing, become something that investors shouldn't be told?
Exactly how big is the problem? And why is it so dangerous for the public to know? We are discussing delivery of shares that have been paid for, not the secret to building the A-bomb, so why is it all so shrouded in mystery? If investors and CEO's don't have the right to understand how many of the transactions in a given stock are fictions designed to depress the price, why not?
Some market observers state that thousands of companies have been put out of business by FSTs, their access to capital squashed in their infant or growth stage. Others reasonably assert that the amount of tax revenue lost from companies being de-listed or going out of business, the FSTs remaining open in perpetuity and thus never triggering a taxable event, numbers in the many billions. Why not put the speculation to rest and give investors a straight answer?
While we are on the topic of interrogatives the SEC avoids like the plague, here's my all time favorite simple, easy and reasonable Reg SHO question: How many FSTs were grandfathered in Reg SHO, representing what total dollar value of transactions (not current mark to market - actual cash exchanged for non-existent shares at the time of the transactions)?
Every FST grandfathered represents hard cash that was pulled out of the market, with no product ever delivered, leaving the rubes who paid their life savings for the sham FSTs holding nothing - the ultimate fraud. Why won't anyone tell us how many billions of dollars Wall Street manipulators took from the markets, delivering nothing in return? Where is the harm in investors knowing? The only answer I have been able to arrive at is that the number is so egregious, so much of a palpable violation to our reason, that there would be a full scale investor revolt if the number was known.
I have yet to hear a coherent or reasonable answer to these questions, so perhaps NASAA can obtain better responses. I am cautiously optimistic.
I applaud NASAA's willingness to tackle the FST problem, and sincerely hope that this is the commencement of a new era of understanding and genuine effort to curtail a destructive, illegal practice. In the interest of offering up some discussion points for the group's meeting, I'd like to comment on where I believe the major offenses in the FST process occur. It seems that the SEC prefers to ignore these, thus I thought it would be useful to review what is so studiously ignored - that way we can all understand the logic to selective enforcement, or rather complete non-enforcement, of the agency's own rules and regulations.
Anatomy Of A Fraudulent Stock Trade
When an FST occurs, a number of steps in the clearing and settlement process take place, and there are violations of rules/laws at every stage:
1) The Seller (or Seller's broker) fails to locate shares. This is a clear violation of NASD Rule 3370(b)(2)(B).
2) The Seller's broker fails to deliver shares to the NSCC (the contra party in all CNS trades) at T+13 (T+3 +10). This is a violation of 17A, and Reg SHO.
3) Alternatively, in the case of non-CNS system trades ("ex-clearing"), the Seller's broker fails to deliver shares to the Buying broker at T+13. Again, a violation of 17A, and Reg SHO.
4) The Buying broker treats these unsettled trades as delivered (rather than canceling the transaction and returning the funds, or buying in the FST Seller), and claims settlement to clients with IRA, 401k and other types of cash accounts (instead of advising them that he's failed to receive the shares, and that he has insufficient shares on hand to match the number of shares in cash accounts). Violation of 15c3-3[1]. Additionally, this misrepresentation on account statements of settlement to cash and retirement account customers constitutes mail and wire fraud, breach of fiduciary duty, and a breach of honest dealings.
5) If handled ex-clearing, there is a failure to tell the shareholder/buyer that nothing was delivered (by the buyer's broker). Also a 15c3-3 violation, and mail and wire fraud.
6) At the 10,000 foot level, the use of FSTs as described above as a manipulative trading strategy by unscrupulous hedge funds/brokers is a violation of 10(B)5, as it constitutes violating a host of rules and laws for the sole purpose of depressing the share price of the victim company - a nice definition of one type of stock manipulation, and a clear 10(B)5 violation.
A Crisis Of Catastrophic Proportions
My perspective is that the FST problem represents a systemic crisis for the U.S. equity markets. The combination of the SEC's non-enforcement of its own rules (as indicated above) along with its passage of Reg SHO, complete with loopholes large enough to drive a truck through and meaningless non-penalties for violations, creates an environment of lawlessness wherein investors are preyed upon by ever-bolder predators. What is the financial penalty to FST practitioners for violating the rules? What are the meaningful disincentives for defrauding investors in this manner? What is the SEC's track record of enforcement for this type of stock fraud? The answers to these questions are disturbing - there are no financial disincentives of note, and the SEC stands idly by as a nation is fleeced, making pretend rules and mouthing platitudes as the predators steal their next billion with impunity.
This situation cannot continue. The flagrant violation of 17A that Reg SHO's grandfathering represents (and its attendant concern that the problem is large enough to warrant grandfathering), combined with the cult of secrecy that characterizes the SEC's approach to the issue, leads me to conclude that years of ignoring the violations have resulted in a buildup of FSTs in the system that could devastate any faith in the market's integrity. The only possible explanations for grandfathering are:
A) The SEC recognizes that the scope of the problem represents a contingent liability of catastrophic proportions, and that any requirement that all the trades actually settle and shares get delivered would cause financial chaos; or,
B) The SEC is protecting the illegally generated profits of those who have been using FSTs as a trading strategy.
If A, the agency is making the classic mistake of hoping that the same industry that created the problem will fix it over time - a tactic that proved fatal in the S&L crisis. If B, the agency is acting as a protector of the industry versus protector of the investor, and requires the strongest possible censure, if not dismantlement and restructuring.
A Thought About "Ex-Clearing"
When the topic of FSTs comes up, generally what is being discussed is the trackable float of failure to delivers recorded by Reg SHO's Threshold List. The omission of the non-Continuous Net Settlement (CNS) system fails - the notorious "ex-clearing system" fails - from this discourse does everyone a disservice, as that system's FSTs likely eclipses the number that are existent within the official system.
For the casual reader, the DTCC (Depository Trust Clearing Corporation) has a mechanism at their subsidiary, the NSCC (National Stock Clearing Corporation), wherein the NSCC will process the clearing (exchange of moneys, including payment of commissions) portion of the trade, and leave the settlement portion (the actual delivery of the stock) out of the system, as an obligation to be handled between the selling and buying brokers. These off-balance sheet delivery obligations don't show up as FSTs on Reg SHO - the DTCC and the SEC take the position that they represent private contractual arrangements between two consenting adults, and they trust that the two parties will settle their trades honorably, in a timely manner.
The obvious problem here is that Wall Street's history is one wherein the participants have been known to behave in a less than honorable manner, especially when money is involved. Witness the analyst scandal, the specialist scandal, the mutual fund front-running scandal, REFCO, etc. etc. By allowing the ex-clearing system to create its own float of IOUs, which freely trade and are treated as genuine between the brokers involved, the SEC and DTCC have compounded the FST problem, and quite literally afforded the clearing brokers an opportunity to print the equivalent of shares of stock (without the annoying cost of goods that buying genuine shares entails), with no real restrictions or oversight. Nobody knows the number of FSTs that are floating around in ex-clearing. I've never seen any accounting for them. And yet we know they exist, as there is a mechanism for handling them at the NSCC, and the General Counsel for Bear Stearns references them in an ominous manner during his Reg SHO conference call (Fall, 2004).
Consider these questions, and you will understand the potential catastrophe lurking beneath the surface of Wall Street, residing in the ledgers in the back offices of the clearing brokers.
1) What is the size of the non-CNS system FST fail to delivers?
2) How are they accounted for by the participants? To whom are they accounted? What mechanism exists to ensure timely settlement? How is delivery tracked and verified? Who administers and regulates this?
3) If NASAA doesn't know how large the problem is (with verifiable data), and can't get access to the numbers, how can it regulate the markets effectively? How can it protect investors?
4) Does anyone know how large this contingent liability of undelivered stock is? If so, who, what data is being collected, and why isn't it being reported? If nobody knows how large it is, why not? Wouldn't this then represent a potentially cataclysmic liability, a float of IOUs of unknown size, collateralized in presumably vastly inadequate ways - essentially an unofficial stock counterfeiting scheme, carried on in Wall Street's back offices?
5) If this is the case, wouldn't that mean that nobody could ever be sure that they own genuine stock, and not just some IOU between brokers?
6) Wouldn't the existence of an undocumented, unregulated float of ex-clearing IOUs represent an industry-wide fraud perpetrated against investors, wherein their cash is exchanged, not for shares of stock, but for bogus markers of questionable actual value?
7) And wouldn't this result in an environment wherein Wall Street has powerful motivation to maintain depressed stocks at depressed levels, given that it is in the industry's best interests to never strain the inadequate collateralization of the ex-clearing FSTs?
8) Why is this NEVER discussed in an open manner, by any regulator? Is it so frightening in its implications that nobody wants to touch it? I've had private discussions where regulators admitted that they had been "told" that it wasn't "that big" a problem, but that they had never seen any data, nor been told exactly how big the problem was. Isn't that scary? If our regulators can't get access to how large the problem is, who is watching the store?
The non-CNS system FSTs could be many orders of magnitude larger than the Reg SHO FSTs, and it is disturbing in the extreme that nobody has any hard data on how pervasive or large the problem is. My belief is that the non-CNS system FSTs are the real iceberg, and the Reg SHO FSTs are simply the tip floating above the surface. Any regulator that chooses to ignore the implications of the 8 questions outlined above shouldn't be a regulator, IMO. Thusfar the SEC won't touch this. Now it is NASAA's opportunity to turn over the rocks, or follow in the SEC's footsteps, and ignore the problem entirely.
Contingent Liabilities
Finally, there is the logistical question of where the money will come from to cover the FSTs failed trades when they are forced to settle, as 17A, and any semblance of a reasoned system, mandates they eventually must. If many years of abuse have truly resulted in a secondary market of non-shares trading in the system, treated by the participants as genuine, then we could well be looking at the financial crisis of our lifetime, as the leverage inherent in hedge fund operations creates a situation where there isn't enough ready liquidity to settle the trades in an auction market.
Given that the difference in cash between the sale price of the FST and the current mark to market price of that undelivered share is available for use by the violator, and given that the cash was likely used to perform more of the same sort of highly profitable, albeit illegal, trades, it is likely that brokers are holding inadequate collateral for most or all the FSTs on their books, should the shares be required to be delivered (prices go up when artificial depressions due to artificial supply end, and the ten cents of collateral now in the account for the shares that will cost $20 tomorrow after steady buy-ins commence, is inadequate to truly settle the trades without damaging the broker or annihilating the violator.) This creates an environment wherein the industry has a vested interest in never settling the trades, and maintaining depressed stocks at depressed prices.
The fraudulent stock trading parties, their brokers, and the clearing and settlement agencies likely have enormous contingent liabilities arising from years of abusing the system, and from permitting unsettled trades to build with inadequate capital collateralizing the obligations. This might well explain the grandfathering, cloak and dagger secrecy, and the multitude of exempted parties - if the rules were enforced, most of the participants would be insolvent or badly damaged once the shares were bought in, thus new nonsense rules and a perpetual vacation from prompt settlement mandates were required - hence Reg SHO.
The question of whether the SEC understands the contingent liability issue, and has been forced to write ineffective rules in order to safeguard the survival of the worst offenders, or is merely protecting their illegally generated profits, is not necessarily a meaningful distinction for investors and companies victimized by this fraudulent practice. Either way, investors lose, and the fraudsters keep their ill-gotten gains.
In Closing
Regardless of the motivations of the agency, as protectors of the investing public go, the SEC has failed with Reg SHO. Now it is NASAA's turn to fulfill its obligation to protect investors. I sincerely hope that NASAA will accept the challenges presented in taking responsible, meaningful and swift action, and return our markets to some semblance of the fair system we all hope to participate in.
Thank you for the opportunity to have the FST issue addressed by your group. It is reassuring that someone is willing to tackle this. Investors owe you a tremendous debt of gratitude for your efforts - I hope that they bear meaningful fruit.
Respectfully,
Bob O'Brien
NCANS.net
[1] Failure to segregate shares and keep fully paid shares in a reserve account (neither IOUs, Failure To Receives or cash count toward this - in the case of cash, IRA and 401K account holders).
That's a little odd...
Stockwatch is reporting 30,000 traded 15 thousand @ 10.5 cents and previous to that 15000 at an even 10.0 cents today while CNQ is reporting the last trade @ 10.5 cents X 15000 shares on their daily quote tally ONLY. Anyone see what I might be missing?
The money flow table shows quite a consistent dip then to the plus side it's almost like clock work where is wilsmere when you NEED his opinion?
Check out the trend line in momentum chart since mid September 05 my guess is that was thanks to PearTree any other ideas? Looks encouraging as does a sign of more consistent trading throughout the trading week...
Patience chart slow to load
Repost from RB board
INITIAL THOUGHTS
So if you cannot believe in this company now?
Brother you have some SERIOUS issues pal? LOL!
Firstly I will NOT be answering this email I am very relieved to be honest that Yaacov will be taking some much needed R&R. Does that sound like the company apologist speaking? You have to understand this CEO has been running himself ragged for years trying his best to get people to see his side. I don't want him running himself into the ground NOT NOW! ,what good would that do? I have said as much to him on the phone in that regard he is his own worst enemy he is so motivated he can't stop to smell the roses. We are getting close guys we need Yaacov healthy of mind body and spirit it's coming down to crunch time. I'm very pleased he is pausing for some quality time the guy needs some solid rest he's only human!
Secondly now do you believe me there wary longs? :) Clubmeister some sharp DD there bud, your DEAD RIGHT there is a lot going on behind the scenes of that DC visit we can only imagine but it has to be big it's completely out of character for Yaacov to over dramatize. The fact that he cannot reveal to much may not make sense to some but those that have experience in the fed contract arena know the signs all to well. These are credible indicators to me Yaacov must have a good fish on the line, if not several. Keep an open mind GSA contracts can be especially secretive.
He is being hushed folks it's not bad it's GOOD!!! Very good indeed IMHO because someone finally is taking him seriously enough that he has to oblige the request and keep much of this deal to himself, at least for now. Standard stuff guys yet I know Yaacov is being perfectly honest when saying he wants to tell us because that's just the way he is! This will be an education for all of us your patience will be tested folks mark my words we will be higher valuated and still we will feel oversold undervalued nature of the business but with the best kit out there it's going to be worth the wait IMHO.
"I made some good connections in Florida also" Now that is interesting because a guy on the other thread was just asking about Chief Berger. I don't know if Chief Berger is still onside but again the implications here are looking very good indeed or if I know Yaacov ...he simply would not have said anything about Florida. Hmmmm? ;)
Well I won't commit myself to always posting everything Yaacov says in an email, but as he wished to pass on his warmest holiday greetings to you all, I felt it proper to pass on the correspondence in it's entirety. As I said Yaacov needs a rest I have heard this from other equally concerned longs so I won't be pestering him for more more more. The guy greatly deserves a decent break and I'd be grateful for your kind understanding if you could honour the same for me please folks at least till next Tuesday say? Be thankful he is taking a breather. Believe me it's in your best interest the future is about to get much busier for IDTA :)
That said boy am I getting excited when the feds come knocking they don't break down the door like in the movies, they tap on it lightly come in for tea and nibble politely on the cookies sampling the silverware while taking in the view. You start to wonder if the family pooch has just broke wind or something? Then before to long there over for dinner LOL! asking for desert and more coffee :) Best of luck everyone from here on in it's about to get very interesting!
ALL you realize loyal longs? JMVHO GLTA! :)
A very Happy Thanksgiving Yaacov. Go IDTA!
Cheers...Rich
()__()
(='.'=)
('')_('')
Boy you ARE a busy bee starboy ;)
Yes know of SSTY through Rick (rrm_bn4u) good luck on that one. PLNI is another unsung starlet but this IDTAemail today was really a fluke.
I took exception to lokumarji's vain comments and decided midpost I didn't have time for a pointless bun fight heck I may as well pop this into the mail for Yaacov in case he was able to defend himself.
At least now we know the DC daze is actually a seed beginning to grow and not just a pipe dream. I really appreciated the CEO taking time out to provide some needed guidance as the topic was getting more polarized than understood only management could cut through the chaff like that.
So thanks lokmarji you really started something! Out @.0175 eh? hmmm change your mind yet?
No worries starboy YW! :)
Gee been a while since you have been posting don't be a stranger good to see you and some good points there thanks!
Brace yourself :)
Hi Rich,
Thank you for your e-mail,
I read your comments on the raging bull and i wanted to let you know that you are definite right regarding the D.C. importance and possibilities, actually it is the center of the world.
to the end of the next week i will release a new PR regarding to my last business trip to the states and especially about D.C.
i can not disclose to much this time about what is going on with D.C. but you and all the other share holders will get a little bit info, sorry not to much , not because i do not want to publish but because it is a long process .
I made some good connections in Florida also.
I will be till next Tuesday in a short vacation in a resort in Israel, i hope to be "disconnected" , not sure it will happen.
I want to wish you and all the public share holders a Happy Thanksgiving holiday.
best regards,
yaacov
Reprint of my email
Thank you Yaacov
For coming through on a previous PR about the CNOA Conference. I really appreciate the update and continuity while longs wait for some big news especially when we all know IDTA is so critically undervalued it's comforting to to be kept abreast of future developments as well as present negotiations.
I'm certain the Meth Stinger will bring welcome revenue to the company and look forward to any developments on the Anti-Meth front for IDTA in that light.
While many cannot appreciate the ramifications at the federal level with these intial contacts I am particularly excited with the response from the FBI.
Best of luck sir keep up the good work.
Long & Strong
Cheers...Rich
Orangeman
It's been so long Queens I can't remember but thought you were in ADZR way back when also? Anyway hello again! RJ4 has had to assume another screen name but as far as I know is still in IDTA posts very infrequently now on RB board but as I say still hangin tough as far as I know.
Wow you HAVE been away a while! Welcome back!
Best...Rich
OMG Hello Queens!
alaskacool1 just popped up the other night he is in too been in for months and never even told me the ratbag! There are other old faces on RB as well.
Goodness me Queens looooong time no see!
Happy Thanksgiving!
stockprof welcome aboard
Rumor is some new countries have been or are in the final process of being signed up to buy kits also waiting for some fed contracts to really smarten up the PPS new states are expected to adopt IDTA's technology as has Virginia.
Other than that some local and possibly state contracts are in initial negotiation since this last PR and I still think the CEO will be dropping a bombshell most likely before Christmas. I'm anticipating '06 to come in with a cheer and a loud bang. I sure don't pretend to know everything but...HTHU?
ALL you realize stockprof? JMVHO GLTY!
Best...Rich
These help Trish?
Gee midas? mine looks nice not so sure about yours though.
Hey thanks for those priceless insights
Keratas you kill me I already stated I'm not an insider and as for panicking as you put it uhhh no it's called standard DD!
Sheesh!
Anyhow FWIW I'll eat my basher accusation sounds indeed like your an honest long sorry you got bit here and apologize for the errant label best of luck.
Cheers...Rich
Simple I know you better LOL!
FACT your a disgruntled long that's not an automatic assumption all I have to do is post some previous gems you have given in the past keratas. I may not post everything but I have a good memory but you know something else I haven't got all the time in the world so leave it there shall we?
Thanks for the reply if you make 50% profit and that's your goal you can never go broke taking a profit sure go for it just realize some of us see a better return than a paltry 50%! So good luck volume seems to be increasing as the CNQ gains credibility with more companies trading all the time. I'd say you have a good shot at 15 cents same as I'd say you have a good shot at 30 but it's not just about honesty it's to do with patience and what else you had planned for the nest egg you parked here. What's your time window? That's going to play a big role in your patience here same as anywhere isn't it? :)
There are lots of honest people out there keratas, the few who do post about GBRT included.Hey listen you have another basher technique also you testy curmudgeon LOL you weaved around the question.
Your getting out right what have you got to lose by answering. Do you think this wilsmere character is on the level and if so do you think he has a case? Yep honest answer please?
SUBJECT: ENOUGH CRAAP !!! Posted By: wilsmere
Post Time: 11/30/04 19:20
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I HAVE HAD IT WITH THE CEO'S
I WILL BE PERSONALLY VISITING ROBERT H. MATHESON , GLENN F.H.MATHESON and DAVID MOSER NEXT MONTH AND I AM REALLY PIZZED OFF. WE HAVE BEEN HAD, THE PRICE OF THE SHARES PROVES IT!!!! MANY BC INVESTORS ARE ALSO REALLY PIZZED AND THEY ARE GOING TO JOIN ME AND MY BOYS.
This was his first post I can recall keratas not a happy camper was he? The post last week definitely indicated he was initiating a class action action against management. That last wilsmere post you won't find because it's been removed. Like I say it could simply be a tempest in a tea pot wilsmere might be on crack for all I know, but as a long leaving no stone unturned is simply standard DD. BTW keratas no I'm not an insider as you once insinuated trying to make a buck like everyone else is all :)
ALL you realize keratas? JMVHO GLTY
Cheers...Rich
keratas
So I take it you know as much as do then. Maybe less let me explain... Last week wilsmere posted something like I hate to be the barer of bad news but my fellow shareholders (innuendos of fellow longs from BC) were now prepared to launch a class action suit against GBRT for moving the listing to the CNQ apparently he felt it was a cover up by Rob to defraud investors and he insisted his lawyer told him he now had a case to go forward with on that information.
Well now your as in the know as much as I am. Wilsmere's post while very obviously serious carried a strong overtone of frustration with the move to the CNQ. You may recall a similar venting of frustration on me roughly about the same time when wilsmere initially posted that intention to sue Rob and GBRT (GTI) gad must have been 9 months ago now maybe? I'm just trying to find out what wilsmere is on about for all I know he was drunk but two posts was all I found from him now at least one has been removed by StockHouse...why?
You were quite incensed I was pro GBRT yourself calling into question Rob's sincerity among a few other "compliments" tossed my way LOL! Yes keratas you were very upset with the new listing on the CNQ also. Quite natural to assume you were/are one of the claimants don't you agree? I mean your still very bitter from the tone of your post and by bash I mean your not doing longs any favours by broadcasting your intention to sell underscoring your lack of faith in the stock and management are you? That's bashing in my books keratas but I do apologize if I jumped to conclusion on your position in this mudslinging wilsmere is somehow absorbed in.
Well anyway the wilsmere post a week ago on the GBRT SH thread proclaiming he had a case and was now launching a class action suit against GBRT and management has conveniently disappeared. It's possible he has been told to cool his jets and had his post removed voluntarily or by force I don't know but I tried to tell him he was wasting his time but as yet he has not contacted me though I requested he did about this supposed suit mum's the word.
As a long I'm just naturally curious if anyone knows anything more about this as it effects my investment here. IF YOU DO kindly get in touch with me please... richierichness@yahoo.com
Well come to think of it I had 150 IM's disappear from my SH inbox as well last week...coincidence?
ALL you realize keratas? JMVHO no hard feelings just want to see GBRT get on with business here! There has been enough complication with this failed financing just want to move forward. GLTY.
Best....Rich
Must be something new right....?
A class action suit that no one wishes to talk about or even recognize the existance of...pardon my ignorance but am I (you know?) ummm am I missing something here? Surely wilsmere has a better reasoning for making such outlandish claims than an old fashioned baseless bash that wastes EVERYBODY'S time...
GBRT Link on CNQ Updated
Sorry there bigbet should work fine now.
Seems some URL's have been altered on the CNQ site not to mention some posts on the SH thread by a certain "wilsmere" not certain what to make of it all?
He never answered my inbox message in a week so if he is organizing some sort of "exclusive" class action action suit it would help to know the details. On first notice (MANY moons ago!) I could sense in wilsmere a very upset and disillusioned poster which made some sense. Immediately though questioned to myself whether his intentions were genuine or simply another bash like keratas has just graced us with. Keratas that grudge on your shoulder MAN! it's got to be getting laborious packing it around this long if you know anything about wilsmere kindly get in touch with me please.
Anyone else hear from wilsmere? If so I'm all ears frankly think he's wasting his time but if he won't talk to me I can't help the poor critter. I'd certainly as a long term shareholder, be interested in hearing his case I'm a firm believer in free speech. If anyone knows much about it please get a hold of me or better still if it's so cut and dried hey state it here for all of us to see... thanks!
richierichness@yahoo.com
I can't help thinking
This sounds like a personal vendetta rather than a genuine class action suit. I followed wilsmere's posts which on the old GTI thread were few and far between. Around October as the changeover progressed so to did his tune first all was right with the move and then suddenly the sky was falling.
I hope he answers me I really have a hard time comprehending if his case was so cut and dried WHY he has waited all this time to launch this class action. To me quite honestly the timing is a little suspect though I do not question it's intent I find myself quizical to it's motive...
ALL you realize? JMVHO GLTY
Best...Rich
We're gonna get sued
Grrrrreat just when the stock shows a little life someone decides to sideswipe the company. Some of you may remember this guy personally I wonder what good it will do suing a lawyer about a grey area like a change of a listing under financial duress to me the CEO was exercising his fiduciary responsibility to get the most possible for shareholders...comments welcome here guys!
wilsmere if your reading this feel free to post here(or there) I have some difficulty finding this "article" you refer to on Google so in all fairness have not got a clue what your talking about...however did inbox you. Would appreciate some input here is this just an elaborate bash? http://tinyurl.com/bbctq If required yes of course it's confidential just please alert me to that fact.
Gotta run guys work beckons see you in a week.
ALL you realize confounded as I am longs? JMVHO GLTA
Best....Rich
CNQ: The Pendulum is swinging
Recall last visit to this topic CNQ had 40 companies traded now my count is 54 that's 35% more companies. Now listen to this broadcast from Rob Cook CNQ CEO it's apparent to me we are getting more and more exposure as investors become comfortable with the CNQ.http://tinyurl.com/e2vyp
A controversial move from the Venture yes no question but the odds are in our favour IMHO. The Venture was frought with ivory towers and gutless management.
ALL you realize? JMVHO GLTA!
Best...Rich
I like the new company website
Very much in fact it has a much improved feel to it more modern and progressive looking THAT SAID
My GOD? the server must have terminal arthritis or something the first load of the home page took eons in stick time. (stick time is how long the Average Surfer's interest is held when logged on to the URL for the first time) that may sound trivial but to anyone who owns a web page knows it's CRUCIAL.
Strongly suggest a more powerful high speed server is clearly needed now with this new site. Otherwise with the billions of other web pages at one's finger tips it's just possible they'd run in the opposite direction at warp speed! As much as I liked the loaded page good grief I was thinking I was logging on to Low Tech Tibet or possibly Mars?
Did anyone else experience the same slow load times?
Thanks...Rich
Ciris goes to work...
Deloitte Technology Fast 500 PR
Glenbriar again ranked among top North American technology companies
CALGARY, Alberta, November 3, 2005 -- Glenbriar Technologies Inc. (CNQ:GBRT), a provider of enterprise software, communications and technology solutions, today announced it has been ranked 218 on the Deloitte Technology Fast 500, a ranking of the 500 fastest-growing technology companies in North America. Rankings are based on the percentage of technology revenue growth over five years, from 2000-2004. Glenbriar’s technology revenue grew 722 percent during this period. Glenbriar’s CEO, Robert Matheson, noted, “For a changing company in a changing industry to post these levels of growth indicates not only the pace of our industry sectors’ expansion, but the strength of our customer relationships. Our current strategic repositioning will allow us to further increase our growth in the coming periods, and we have just updated our website to present a better glimpse of our new directions. We look forward to executing on our refined vision.” “Making the Deloitte Technology Fast 500 is commendable in today’s highly competitive technology industry,” said Tony Kern, deputy national managing principal of Deloitte’s Technology, Media & Communications industry practice. “We congratulate Glenbriar on being one of the 500 fastest growing technology companies in North America.” Glenbriar previously ranked 149 on the 2004 and 329 on the 2003 Deloitte and Touche Fast 500, in addition to its rankings in the Deloitte Technology Fast 50 for Canada in those years. Fast 500 Selection and Qualification The Fast 500 list is compiled from Deloitte’s 15 regional North American Fast 50 lists, nominations submitted directly to the Fast 500, and public company database research. To qualify for the Fast 500, entrants must have had technology operating revenues of at least $75,000 in 2000 and $1 million in 2004. Entrants must be headquartered in North America and must be a “technology company,” defined as a company that owns proprietary technology that contributes to a significant portion of the company’s operating revenues, or devotes a significant portion of revenues to the research and development of technology. Using other companies’ technology in a unique way does not qualify.
About Glenbriar: Glenbriar Technologies Inc. (CNQ:GBRT) provides leading edge business-driven technology. Glenbriar’s Peartree Software Inc. division develops Web-based software solutions for specific market verticals. Glenbriar adds post-carrier IP telephony, call centres and support services to deliver complete technology management solutions. Glenbriar has locations in Alberta, British Columbia and Ontario. See www.glenbriar.com for more details.
About Deloitte Deloitte refers to one or more of Deloitte Touche Tohmatsu, a Swiss Verein, its member firms and their respective subsidiaries and affiliates. As a Swiss Verein (association), neither Deloitte Touche Tohmatsu nor any of its member firms has any liability for each other’s acts or omissions. Each of the member firms is a separate and independent legal entity operating under the names “Deloitte”, “Deloitte & Touche”, “Deloitte Touche Tohmatsu”, or other related names. Services are provided by the member firms or their subsidiaries or affiliates and not by the Deloitte Touche Tohmatsu Verein. Deloitte & Touche USA LLP is the US member firm of Deloitte Touche Tohmatsu. In the US, services are provided by the subsidiaries of Deloitte & Touche USA LLP (Deloitte & Touche LLP, Deloitte Consulting LLP, Deloitte Financial Advisory Services LLP, Deloitte Tax LLP and their subsidiaries), and not by Deloitte & Touche USA LLP.
Forward-looking statements This document contains forward-looking statements relating to Glenbriar's financial performance, operations, or the environment in which it operates, which are based on Glenbriar's operations, estimates, forecasts, and projections. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict, or are beyond the company's control. A number of important factors could cause actual outcomes and results to differ materially from those expressed in these forward-looking statements. These factors include those set forth in the Glenbriar’s corporate filings (posted at www.sedar.com). Consequently, readers should not rely on such forwardlooking statements. In addition, these forward-looking statements relate to the date on which they are made. Although the forward-looking statements contained herein are based upon what management believes to be reasonable assumptions, Glenbriar cannot be certain that actual results will be consistent with these forward-looking statements, and Glenbriar disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
The CNQ has not reviewed and does not accept responsibility for the adequacy and accuracy of this information.
For further information call: Robert D. Matheson Robin M. Sundstrom Glenbriar Technologies Inc.
Ciris Investor Relations (403) 233-7300 x117 (416) 368-8770 x223
Hi guys in for the weekend
Well it sure is a darn site better coming home to 100,000 lot trades let me tell you. I'll try and leave some input before I head back out Sunday everyone have a great weekend.
betman welcome aboard we are all waiting to see WHY this promotion obviously something good is in the works but as to what well as I say will try and leave some input before my return to the salt mines. Bit of a mystery at present. Anyone been talking with Rob Matheson by any chance?
Best...Rich
NEWS !!!! VIRGINIA! :)
This is HUGE guys
Source---> http://tinyurl.com/dzf7c
INTERNATIONAL DRUG DETECTION FIRM IDENTA RECEIVES TESTING APPROVAL FROM STATE OF VIRGINIA - POSTS INTERVIEW ON WALLST.NET
JERUSALEM, Israel, October 20, 2005 - Identa Corp. (OTC Pink Sheets: IDTA - News) announced today that its drug detection products have successfully passed the requirements and field testing procedures of the Department of Forensic Science in the Commonwealth of Virginia. Notification of the approval was issued to Millennium Security Solutions, (one of the Identa's representative company in the USA) headquartered in McLean, Virginia.- www.millss.com
"Approvals of this enormity require patience because of their critical nature," explained Yaacov Shoham, IDTA CEO. "Each state and federal agency has its own set of legal and procedural guidelines that products of this nature must successfully pass. I want to personally thank Michael Phipps President and CEO of Millennium Security Solutions LLC, for his instrumental role in providing all of the details necessary to bring this important business milestone to our company."
The state's approval means that Identa's products will soon be listed in the General Notices section of the "Virginia Register of Regulations" and are authorized for purchase by all of the state's governmental departments and law enforcement agencies. The next printing of the register is expected to occur within the next 90 days.
Shoham was featured Wednesday in an interview on www.WallSt.net under the category of
Pink Sheet Companies, where he discussed the company's recent successes along with expectations for IDTA's world-wide expansion during the coming year.
ABOUT IDENTA
Identa Corporation, headquartered in Israel, is a leader in the development of proprietary on-site drug detection kits used by governments and security forces around the world. Information concerning Identa's business plan and product line, including rapid test kits (substance only) for the detection of marijuana, hashish, ecstasy, cocaine, crack, heroin and methamphetamines may be found at www.identa.biz and www.drugsdetector.com.
Identa Corp. has corporate representatives for its products in 20 countries including 23 companies in the U.S., and 4 companies in Great Britain.
For Investor Relations or information concerning products internationally contact:
Yaacov Shoham, Identa Corp., CEO
Tel: +972-52-6554487, +972-8-9716874
Fax: +972-8-9716875
fpi@drugsdetector.com
Certain of the statements contained herein may be, within the meaning of the federal securities laws, "forward-looking statements" that are subject to risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. These forward-looking statements are based on management's expectations as of the date hereof, and the company does not undertake any responsibility to update any of these statements in the future.
Source: Identa Corp
Carolyn Contoversy Continued
United Carina, Cons. Pine settle seven-claim dispute
2005-10-18 15:54 ET - News Release
See News Release (C-KPG) Consolidated Pine Channel Gold Corp
Mr. Rick Walker of United Carina reports
United Carina Resources Corp. and Consolidated Pine Channel Gold Corp. confirm that the Saskatchewan Department of Industry and Resources has notified the companies that title to seven claims (S-137714 to S-137720 inclusive) has been transferred to the companies as to 50 per cent each. Title to these claims had been in dispute since they were staked on Nov. 1, 2004, but the dispute has been settled and the companies now have clear title to them.
One of the seven claims contains a kimberlite pipe known as the Carolyn kimberlite. The companies participated in a five-hole drill program on this pipe in 2004 and had samples from one of the holes tested for diamond content. Only two microdiamonds were recovered, but further testing will probably be conducted on other samples from the drill holes.
New CEO webcast interview
Under Pinksheets interviews lower left registration required.
http://wallst.net/
At a glance I agree bearbait
The financing appeared headed for the trash bin in all honesty so that leaves the VOIP side really looking weak to me in terms of potential.
Hard to see what has Rob Matheson optimistic enough to commit that kind of cash to marketing. I'm not critical of the expenditure quite the opposite. I have felt for a long time GBRT was being way to skimpy on marketing.
Fact is any CEO in his right mind doesn't commit that sort of dough if he thinks he should be pulling the belt in. I know he said that the VOIP maintenance was doing well for the company but well enough for this kind of outlay?
Tough Call but my guess is something else is coming down the pike whether it's financing through the German group already looking into it or a good sized VOIP contract, a breakthrough in Brazilian business or some US deal or something else Gee Wally? The spending has me miffed right now too.
Suggestions anyone?
Oh hello
I'm your new CEO and for kicks I just spent thousands upon thousands for Investor Relations in fact after 2 months just for giggles I spent $5000 bucks instead of 3000 a month gee okay well I'll be right back I just have to decide why I did that...
Oh right here it is: Glenbriar has embarked on a shift towards commercialization of its strong portfolio of technology solutions, and is simultaneously implementing a comprehensive investor relations and communications program to increase visibility and market awareness.
Okay a little tongue in cheek I'm entitled after waiting this long! Apparently Rob is seeing enough business coming in and enough potential to justify what I see as the most money Glenbriar has ever spent on marketing. You know and I know how frugal Rob can be so a prediction boys FWIW and ONLY! IMO
Something is brewing if Rob is spending that kind of moolah.
Good Luck everyone!
Best....Rich
Glenbriar Retains Ciris IR for Investor Relations
CALGARY, Alberta, October 14, 2005 -- Glenbriar Technologies Inc. (CNQ:GBRT), a provider of business technology solutions from vertical market software to communications technology management, today announced its appointment of Ciris Investor Relations Corporation to provide strategic investor relations and corporate communications services. Glenbriar has embarked on a shift towards commercialization of its strong portfolio of technology solutions, and is simultaneously implementing a comprehensive investor relations and communications program to increase visibility and market awareness. The contract with Ciris is for 12 months, during which time Ciris will be paid a monthly retainer starting at $3,000 and ratcheting to $5,000 after the first two months. Ciris presently has no financial interest, direct or indirect, in Glenbriar or its securities. About Ciris: Ciris has a 15-year history of helping companies in many industry sectors to achieve their communications targets. Taking a disciplined approach to managing stakeholder perceptions and expectations, Ciris creates and implements carefully tailored strategic financial marketing and communications programs for its clients. Ciris provides a complete suite of communications services, including: investor relations, public relations, media production and events, Web presentations and presentation training, annual report production, and governance tools. For additional information, please visit: www.ciris.biz. About Glenbriar and Peartree: Glenbriar Technologies Inc. (CNQ:GBRT) creates and supports business-driven enterprise technology solutions. Glenbriar’s Peartree Software division develops vertical market solutions for managing manufacturers, distributors and dealerships. Glenbriar’s enterprise communications solutions include post-carrier business communications, IP call centres and technology management. Glenbriar has offices in Alberta, British Columbia, and Ontario. See www.glenbriar.com and www.ptsoft.com for more details. The CNQ has not reviewed and does not accept responsibility for the adequacy and accuracy of this information. For further information call: Robert D. Matheson Robin M. Sundstrom Glenbriar Technologies Inc. Ciris Investor Relations Corporation (403) 233-7300 x117 (416) 368-8770 x223
MO FWIW
The financing is a deep concern sure it's nice to see the VOIP end getting stronger but I cannot fully understand Rob's strategy without the financing he's as good as a dead duck in my view.
Let's just pray the German model pans out otherwise well I'm damned if I know what he's up to that's the truth! Did not have time to go into any contingency plan should the financing plan not bear fruit.
BTW be wary of Questrade! They have a sneaky little hook when you start trading a whack of shares they ding you proper on commissions the rotters. Either forced to go Etrade Canada or Action Direct ( Royal bank) Both are pricey but I tell you it's really tough in Canada to trade on the pinks reliably these days Nesbitt Burns dumped me after there broker moved on BMO InvestorLine won't let you trade pinks except for phone orders.
If anyone knows a dependable small cap brokerage for online trading in pinks and OTCBB please post thanks off to the salt mines.
Good luck all!.....Rich
Just out the door
and really pressed for time but chatted BRIEFLY with Rob. The American financing has been scuttled the German end of it is undecided yet. The DD found shortcomings in the American model that were not up to there standards. Apparently Germany said last week don't get discouraged we are still working on it.
The product based side of the business is a major transformation for Glenbriar as you know. I'm dieing to see a killer app like a VOIP Cell Phone for business apparently they can't keep them on the shelves for retail use!
Rob very encouraged about Rogers Bell agreement to partner on country wide wireless broadband. The price right now is ludicrous and he anticipates as prices come down inevitably he will be able to utilize this exciting project for Canada extensively to considerable company advantage.
He has not given up on financing but obviously it was at an impasse presently.I'm very disappointed but first I heard have not been able to follow all my stocks been very busy. Rob wouldn't be nailed down to times for a wireless VOIP phone for business but said he can see it coming FWIW. GBRT is finding many businesses want them to install and MANAGE their phone works so I get the impression that is becoming a source of considerable company revenue. Anticipate web changes displaying different products on site and a whole site in fact he's drawing it up now as we speak. Well there you are in a nutshell a Glenbrar we never knew but coming together apparently Brazil is all included in this transformation but it takes time to get all on board seamlessly as you might expect.
I'm too rushed to give an opinion right now on what is happening other than to say it is taking a bend in the road I had not anticipated, just relaying what I heard FYI. Good luck guys, GTG here see you in a couple weeks most likely good luck!
GO GBRT!
ALL you realize? JMVHO GLTA
Best...Rich
News Out
Glenbriar outlines first steps in new expansion phase CALGARY, Alberta, September 21, 2005 – Glenbriar Technologies Inc. (CNQ:GBRT) today announced a new sales and expansion phase. The company's business technology and communications solutions have reached sufficient maturity to commercialize more broadly, enabling Glenbriar and its Peartree Software division to shift away from its earlier, service-based business model. The first step in this new phase is to position new resources for the company. To this end, we are pleased to announce the appointment of Brian Pleet as Director, Marketing & Sales. Highlights of the Release: • Glenbriar is moving into the commercialization stage with a series of products; • Oriel Partners has been chosen to assist with international business opportunities and funding options; • Brian Pleet has been appointed Director, Sales & Marketing. Over the past years, Glenbriar has followed a long-term strategy of investing in the development of robust and potentially market-leading solutions, funded entirely from internal sources. Some of these new solutions are now approaching commercial maturity, driving a change in business focus. In June 2005, Glenbriar embarked upon a strategic planning exercise to change itself from a services-based to product-oriented company in order to pursue commercialization of these new solutions. To assist in this review, Glenbriar retained Oriel Partners (orielpartners.com), whose services include international business development and the sourcing of capital funding alternatives to address Glenbriar’s future expansion plans. In order to assist in the implementation of this expansion phase, Glenbriar has contracted the services of Brian Pleet as Director, Marketing & Sales. Mr. Pleet has over 20 years of experience in marketing and management positions with telecom and technology companies, including Telus, Xerox, Honeywell and Aliant, and has business degrees from the University of Waterloo and the University of Western Ontario. Mr. Pleet will work with Glenbriar to assess the market potential of Glenbriar’s new solutions and development of an overall market strategy, including value proposition, targeting and competitive analysis. This will include development of a positioning statement for each solution and for Glenbriar as a whole. These positioning statements will then be implemented with marketing plans designed to maximize efficiency and effectiveness. It is a principal objective of this engagement to instill a marketing and sales culture within Glenbriar and Peartree while providing strong guidance on the tools and techniques of the trade.
301, 401 - 9 Ave SW, Calgary, AB T2P 3C5 Phone (403) 233-7300 Stock CNQ:GBRT Web glenbriar.com About Glenbriar and Peartree Glenbriar Technologies Inc. (CNQ:GBRT) creates and supports business-driven technology solutions. Glenbriar’s Peartree Software Inc. division develops software solutions for specific market verticals, including dealerships, distributors and manufacturers. Glenbriar also delivers VoIP, IP call centre, and technology management solutions for small and medium enterprises. Glenbriar is headquartered in Calgary, with locations in Alberta, British Columbia and Ontario. See www.glenbriar.com and www.ptsoft.com for more details. The CNQ has not reviewed and does not accept responsibility for the adequacy and accuracy of this information. For further information call: Robert D. Matheson, Glenbriar Technologies Inc. Phone (403) 233-7300 x117 Fax (403) 234-7310
Greetings midas
Yes that was me just stumbling over the boards after a party late here so will check back later thanks for the headsup thought this board was that other board! LOL!
Go IDTA!
Best...Rich
Well be nice for that chopper...
to have a few IDTA drug detection kits they sound like they could use them all the day long LOL! Hi Midas just stumbled on your site good luck with it, could be interesting what you get here will bookmark
Best....Rich
Hmmm ..oookay? who is Larry Lead Pockets!!??
Looks like a buyer chowed down on 40000 shares the other day filled @ .05 Now someone wants 140 000 shares my question to the multitude does he know something I don't and more importantly does he know something you don't ladies and gentleman? A BID @ 140 000 for .04 measly cents sounds bullish to me folks.
W.D. Latimer 140,000 BID0.04 ASK0.08 22,000 W.D. Latimer
Rob not in the office hopefully I can hook up before I head back to work Sunday...
FINALLY Found a CNQ friendly house.
They do not trade it electronically but for 25 clams a trade you can purchase/sell over the phone. All Canadian site but yes they will let you play the pinks and OTCBB also but CNQ friendly? WOW that was a new one!
Options? Yup! Margin? absolutely! Electronic trades $9.95 a trade US markets I think he said $17.00 Cdn for Cdn exchanges and no strings like other brokers near as I can tell. Just signed up today. Let me know pro or con appreciate any feedback.
http://www.questrade.com/
Best...Rich
Encryption Encryption Encryption
Apparently we have the very best money can buy. According to this, that's a GOOD thing!
http://tinyurl.com/bnsow
VOIP on the HIT List
http://tinyurl.com/bt954
Could be...
Who's askin?
Hi ragtrade been working so hard to the grindstone I need a nose job, sorry for not posting just in for the weekend and off again for two weeks looking like.
Someone else was asking about activity recently. I would hunch it's the market returning to life. Very little to indicate anything else might be happening in the meantime since last I chatted with Rob which leads me to think we could be hearing from the company near term. I sure hope so the paint hasn't set all summer (hint,hint)
Yep I'm a little anxious to see some progress from the company I was crestfallen last contact with the CEO. He can lament all he likes about the safe adoption of the financing etc. but personally I am beginning to take the view it's a convenient smokescreen. There is such a thing of being so cautious about crossing the road you never make it to the other side?
Management quite bluntly has to _ _ _ _ or get off the pot this is taking to long in my estimation. AGAIN management can counter well it's better for market timing we use this time frame. PARTLY correct but my question is use it for what?
GBRT needs to encourage investment if the stock is to move and incessant delays and back pedalling won't cut it no matter how nice you put it management has to get their collective act together. I am very concerned that as nice and accomodating this CEO is he is not doing his job adequately to move the company FORWARD. Now that may sound like an impatient jab regardless it's also the truth GBRT is just treading water while the clarity of that water gets murkier and murkier.
Does anyone else here hold the same hesitations about management or am I just being too impatient for the market to resume and perhaps a tad harsh? Appreciate some feedback.
Yes ragtrade you have the same fellow good to see the board active once more I admire and respect your patience one and all. I am just holding a lot of pent up frustration right now this stock was on life support all summer from what I have seen and despite what spin you attach to that this is NOT what we were lead to believe. It's my belief whether this strategy works or dies on the vine it's management's fiduciary responsibility to catalyst the stock FORWARD. Right now there has been lots of smoke but I am questioning on this course whether we ever get to see the flame? Seems to me GBRT needs to communicate SOME! progress even if it's a change in strategy or game plan.
Frankly I cannot give the company a passing grade on that account something needs to be ACCOMPLISHED here and SOON. A better more frequent avenue of company guidance would be appreciated also and I don't refer here to prying CEO phone calls from concerned shareholders or monthly updates the stock is under performing and SOMETHING needs to be done to get us out of this consistent rut of delay and disappointment.
ALL you realize ragtrade? JMVHO GLTY! ...hoping for the best fearing the worst. Watching the show as I already purchased the ticket but I have to be clear today it's with some hesitation and apprehension the CEO is not doing his job satisfactorily....CURTAIN CALL
Best to you....Rich