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Santa as you should know arguing against someone who's only investment philosophy is dictated by conspiracy theories is pointless. I guess losing over 600 thousand would make anyone bitter. No one wants to discuss actual fundamentals of TEVE. It's all about the Shorts, Naked Shorts, Evil Market Makers, and bottom line financial distress is ignored, all without any proof whatsoever. Also just because a billionaire is associated with this company some say it can't lose and another reason why the facts are ignored. Though the facts dictate this company can no longer afford to pay all employees and remain in business, so they laid them off, a fact that they are actively looking as of the 10Q report and as of this date still have not found a source of funding, why not?? Why so long?? They've hired the CFO who was responsible for the 1 for 200 split, what kind of deal was that?? Annual report will say the same, cash strapped, cost of revenue exceeds actual revenue, only a handful of "cloud" clients, PEG always was a losing proposition. No positives that I can see, but again, noone wants to discuss the facts, just hope!!
Of course they said that, what else would they say? They are still trying to get funds and laying off people so they can last another year. No guarantees in the business world. Time for management to take a paycut, and still waiting on the CEO to purchase some stock, such a low pps and yet no interest from management either. Just how do you propose they pay back a loan when 1) they can't pay the interest on the preferred shares, 2) they continue to lose money so there is no profit available to pay back the loan? 3) Last repayment was done in shares, which in turned decimated the PPS, and banks don't take shares as payment. Where do you see the positive??
Well that's a change, but still doesn't effect TEVE's need for financing to go forward, As a company you need a line of credit as has already been mentioned, and yes the past means something as far as their financial ability to repay, therefore, the past shows they do not have the ability to pay. Having a financial entity give up to 250,000 on a company that is looking for additional bank capital while NOT paying interest on preferred shares, the past shares for debt transaction is a stretch. TEVE should have already had in place a financing activity instead of relying soley on a human being.
as the past doesn't matter to this discussion, what's your point?
I agree, a line of credit is not a bad thing, but the question is this, with their past history of not being able to pay back accrued interest much less principal is there a bank willing to give this company a line of credit? That's the point. If you recall the shares for debt transaction was specifically because the company could not pay the interest. As per the proxy published. They also are not paying the interest on the preferred shares now at 108,000 dollars and rising daily. As a Banker with this history, continuing to burn through cash, one segment of their business plan decreasing rapidly, laying off employees attempting to save 500,000, would you be willing to gamble 250K?? Banks won't take shares as repayment.
And you said a company that is "credit worthy", what happens if they can't get the line of credit, what does that say....., and as you said a credit worthy company should have a line of credit....why don't they already, would have been much easier when Mr Lenfest was backing as opposed to now......
Unfortunately the next report will be the annual report 90 days after the quarter ends, but an 8K or PR at a minimum should be published if established.
Because they all had to be converted, but more importantly was the shareholder votes, if there were thousands of shorts as has been claimed by some on this board, the actual total votes would have outnumbered actual shares. This did not happen, even though there were those who said the "spit will hit the fan" and other things just prior to the split. The individual investors voted their "shares", had any of those been fraudulent that would have been seen immediately. One person claimed there are hundreds of thousands of post split shares shorted, don't you think this would have been noticed say if 900,000 votes were cast with only 600,000+ shares outstanding??? What happened to the ones who were getting their certificates??
No shorts, no evidence as such, 30 more days for TEVE to get their 250,000 dollars its looking for (as per their 10Q). and as a reminder here it is:
The Company is actively looking for bank funding of working capital. Prior to January 1, 2013, TelVue expects to have a revolving line of credit in place which it expects will provide up to approximately $250,000 in funds.
Pending available shares the order would be partially filled as sell orders came in, depending on the limits placed by both buyers and sellers. and if by chance no shares are available, total stagnation. No chance of a rise in PPS, unless it was a market order, and for OTC/pinksheet stocks, non existent. you can infer your "short" scenario but with no irregularities when the split happened or during the shareholder votes, there are no shorts and this won't matter. If a person bought 10,000 shares at ask, pps would go up but the question is, what would you be able to sell yours for? At the bid, period.
Old news, 3 Oct. No indication of revenue, cloud is old news and nothing more than a marketing ploy for data storage and broadcast. eg the internet, and maybe the 10 people watching this board has read the PR, that's about it.
They hired the "1%" Getting rid of the "99%"; Saving, according to the 10q, $500,000. Just how many people did they lay off? And individual subscribers to Neon Alley mean nothing. TEVE does not get paid by the subscriber rate of the companies they supposedly support, so that point is worthless. If you can show otherwise please do.
I'm sure those employees that are being or have been laid off would argue that point.
There is no financial nor investment logic in that statement,but good luck anyway.
Obviously you failed to read the latest 10Q, they are actively looking for funding because they can't get it where they used to. Only reason they can continue for a year is because of all the layoffs.
They are one in the same. Both caused by one man. The investor cannot win here as long as funding is nonexistent and one person holds most of the shares.
How will you have volume if the float is only 600,000+ and one person owns 90+ percent and not selling? Who's going to sell, who's going to buy? PPS changes with buying or selling. No buying or selling = no change to pps regardless of what happens. Only event that will add to the volume is a secondary offering or Mr Lenfest liquidating his shares to the market. But since this company is laying off personnel, begging for a bank to give them a loan, I doubt many outside of this board even notice, nor care, and any outsider looking a the last quarter will stay away. All negatives that will not be good for investors.
He won't sell his shares, so 90 plus percent of shares are off the market, therefore no buyers, no sellers, and you expect the pps to go where? How do you propose the pps will rise if there is no liquidity??
The dilution was the conversion of debt to millions of presplit shares, has nothing to do with the preferred shares. The preferred shares were just the last 5 million dollars he gave. The dilution happened when Mr Lenfest accepted common shares for the 25 million dollars that were owed him, thus the increase in shares prior to the split. This point was made at the time of approval of this deal. See my previous posts. And the argument is old yet still valid. Post split shares from 100 dollars to 11 a loss of 89 percent...dilution period. Below is from the financial report, of course some will continue to argue its the shorts an even older yet unsubstantiated claim with no basis. But I ask again, how many FTD's are listed today??
The Company consummated the Conversion Transactions on March 16, 2012. $20,941,000 of the principal amount of the Notes and Science Note, plus $4,921,082 of accrued but unpaid interest thereon through March 16, 2012, was converted into 369,458 shares of the Company’s Common Stock (as adjusted for the reverse stock split disclosed in Note 6), at an adjusted conversion price of $70.00 per share. The remaining $5,000,000 of the principal amount of the Notes was converted into 14,285.714 shares of the Company’s Series A Convertible Preferred Stock.
Regardless, it still effects the bottom line of the company, interest continues to accrue, the debt for shares diluted the stock, any further like transaction will only do the same.
No they still have debt. The preferred shares are accumulating dividends every day. Payable if called. Also TEVE is "actively looking for bank financing to obtain up to 250,000 by Jan 1 2013. They've let go employees to help stop the bleeding. Maybe its time to reread the financials.
Like they were going to tell you something different?? Very gullible, their actions do not support their words. CEO making 150K a year? Mr Lenfest stopped supporting financially?? Company continues to lose money?? How do you see a bright future when they have no financing to move forward.
52 shares as per your post 20 were cleared but again, how many today, and you're right there is nothing to see here but people keep insisting this is the next gold rush. No basis for optimism here.
I was talking about TELVUE, but there is some comparisons to a majority owner dealing with his two companies and not caring about the shareholders in either case, this one though he has stopped financing so lookout below.
I appreciate your opinion, its just that this company shows no ability to make a profit. Rewarding the shareholders?? How?, Not with 91+ percent of stock held by one man. Not when they are searching for additional finances, of which if they had obtained financing an 8K would have been published so its obviously not going well. Not after 15 years and 25+million dollars of Mr Lenfests money come and gone. And the interest on the last 5 million, the preferred shares, continues to grow every day. Even if forward splits take place, The majority owner still maintains 91+ percent of all shares and liquidity remains stagnant, all a split would do is lower the pps and will not change anyones wealth one bit. I understand being optimistic, but the optimism needs to be based on something and the finances and past history just do not support being optimistic. Hope is not a good financial strategy. When the CEO starts buying the stock and executing his stock options I'll take a closer look, but if he's not buying his own companies stock why would anyone else.
I'm sure it will, the stock continues to decline because no liquidity, no buyers, no sellers, just a stagnant pond. Both have clients, both losing money, both with the same owner. One of which he has stopped funding the other, who knows. One may make it, the other will be dumped aside and left to its own devices. The financials say it all, regardless of any "hopes" for the future. As far as the cloud goes, its just a fancy name for the internet, where do you think your email is stored, a database storage facility, somewhere, its not stored in your computer, but marketing experts renamed it because on line storage was too boring. TEVE is NOT the leader, but good luck anyway.
Lose big?? According to the website you posted only 52 fails to deliver?? 52. Let's see 52 times 11 is 572 dollars, WOW. How many are there today?? I don't see that causing much of a rise in PPS, especially with no fundamental financial backing.
Jack, I wasn't providing an argument, my post was directly from the SEC website, its amazing like on other boards, people will quote or cut and paste information that suits their arguments yet will refuse the same websites and agencies that provide information to the contrary. People cannot have it both ways, either you believe the info or you don't. Saying there are hundreds of thousands of shorts post split is nonsense, saying there are shorts and use the government website to prove that and disbelieve the same government website that gives an explanation does not make any sense. Remember the shareholder votes?? No irregularities or illegal voting, the spli?t, all shares accounted for with no irregularities. Sorry that's just the way it is.
Look at Mr Lenfest's other company one that has had a lot of positive PR recently, millions of dollars in contracts, yet because Mr Lenfest is majority owner liqidity is non existent, and the share price remains stagnant, even if there is positive news there are not enough shares available to cause any type of price increase. Again that's just the way it is.
http://www.sec.gov/foia/docs/failsdata.htm
Please note that fails-to-deliver can occur for a number of reasons on both long and short sales. Therefore, fails-to-deliver are not necessarily the result of short selling, and are not evidence of abusive short selling or “naked” short selling. For more information on short selling and fails-to-deliver, see http://www.sec.gov/spotlight/keyregshoissues.htm, http://www.sec.gov/divisions/marketreg/mrfaqregsho1204.htm, and http://www.sec.gov/rules/final/34-50103.htm.
Fails to deliver on a given day are a cumulative number of all fails outstanding until that day, plus new fails that occur that day, less fails that settle that day. The figure is not a daily amount of fails, but a combined figure that includes both new fails on the reporting day as well as existing fails. In other words, these numbers reflect aggregate fails as of a specific point in time, and may have little or no relationship to yesterday's aggregate fails. Thus, it is important to note that the age of fails cannot be determined by looking at these numbers. In addition, the underlying source(s) of the fails-to-deliver shares is not necessarily the same as the underlying source(s) of the fails-to-deliver shares reported the day prior or the day after.
Hope investors or potential investors take the time to read the 10q as a few items posted are incorrect,
They are into everything you see on your TV. They send things to your ipad and iphone and they sell room on the cloud to the largest communication companies in the world.
They sell software that they continue to sell over and over again for nothing but profit.
Gerry Lenfest is not who turned off the funding for this company
I have told you what to expect at each turn in the road and we are finally at Grandmas house. Are we there yet ?? Yes.
and what I've been saying for years, on this company the float is over 600,000 so if that is incorrect, what is your figure for the float?? As there are no restricted shares would like your explanation to a different figure as you keep saying my posts are incorrect.
GABEH is correct, NO restricted shares, the preferred series A shares are a special share lot given to Mr lenfest for the last 5 million dollars. Of which incurred dividend of over 108 thousand dollars, of which TEVE hasn't paid, and won't pay until they are called by mr Lenfest yet dividend continues to accrue. I said it before there are no restricted shares. And your comment about issued and outstanding is incorrect both are part of the float, the restricted shares if they had any would be counted separately, then you would subtract.
Yes, that's what the float is: issued and outstanding is the float, they are available to be publicly traded, whether owned by the public or at the transfer agent waiting to be sold. they are not authorized shares, not part of the preferred stock, not restricted, this is the float, so the extra 1000 came from somewhere, probably authorized by the proxy vote as part of the previous shareholder approval which stated that shares may be moved from the authorized "stock" to float in order to facilitate anything the management decides to do without any further approval by the shareholders. So the added 1000+ shares is a slight dilution. Expect shares to be used more often as currency if bank funding is unavailable.
from the 10Q: Number of shares of registrant’s common stock outstanding as of November 5, 2012: 616,436 shares. There's your float!
For the initial look at your post it says, "actively looking for bank funding for capital". That tells me they are having trouble obtaining funds. So much for peoples thinking that Mr Lenfest will continue to fund this company. Also a reduction in staffing, so people losing their jobs. Now is this really a company going forward? Damage control in place, a line of credit up to 250,000?? If they can get it but no guarantee. Will review the quarterly report in detail this weekend, recommend everyone does. Definitely NOT a good report by anymeans. Without Mr Lenfests money, you now see how bad this company stands financially. Down to 1.4 million dollars, so they burned through 3.6 million so far at a minimum not to mention all their capital costs, overhead, and the hiring of a new CFO. Hire him, fire the staff, sounds more and more like a penny stock operation afterall.
and so does mine, the float is over 600,000. Remember the authorized stock was at 600 million prior to the 1 for 200 split, thus the authorized amount post split is 3 Million. The last quarterly report explains it very well. I see no restricted stock the only stock is the Company’s Series A Convertible Preferred Stock in the amount of just over 14 thousand shares that was given to Mr Lenfest for the last 5 million dollars the company owed him as part of the debt conversion agreement, not restricted, but a special class of preferred stock. As per last 10Q. Therefore I say again the float is over 600,000.
First no shorts in TEVE, second, unless liquidity is brought into the teve market, split means nothing, like I said ratio stays the same, will still be little or no buying and selling, they must do another offering. I agree the next quarters financials will be a telling sign.
Having a forward split means nothing, the float ratio wise still stays the same, it has no financial benefit to the company, Nor does it have any benefit to the shareholder, it only makes the share price more attractive to future buyers, but any forward split will put this into near or at penny status once again, they need additional funds to finance future R&D and basic operations, a secondary offer or sale outright is what is needed. You can hold on for years, I'll take my 20 percent annualized gains elsewhere, not difficult if you know what you are doing, TEVE is a gamble. One week for the next financials, more outflow of cash with increasing losses, even if revenue increases the past has shown that the cost is greater than any increase. Good Luck
I never said the authorized shares were part of the Float, The float is those shares that can be publicly traded, I also repeated restricted shares are NOT part of the float. Look again at the financials as to the float. Or if you all say 55,000 available is 9 percent of total shares outstanding, then how many shares is Mr Lenfest holding, ie the other 91 percent, add these together and that is the float. Simple Math. So that being said, How many do you say are in the float?? Just in case here's the definition for others:
http://www.investopedia.com/terms/f/float.asp
The point is flawed, and Silver is not Gold, silver is used in many manufacturing processes, cell phones, etc, it is a commodity that companies require thus there is great demand. Especially in China. Silver over Gold, yet still either is a much better investment than TEVE. Very hard to dilute Gold, whereas your TEVE shares will be diluted by the end of the year.
In order to compare I'd have to waste my time comparing revenue/profits/and the future for both companies, not worth my time. Though KCG, last quarter had over 3 million dollars in NET income and the previous quarter 33 million. Not necessarily the float that matters. Why not compare to APPLE a real stock with real products with real profitability, and what is their float?? Look at a company like Oceaneering an offshore oil services company, look at their profitability and their float. If a companies profitability supports the amount of shares in the float that's better for the investor. There is no positive for TEVE having such a small float though I agree with one thing a larger float, not supported by TEVE's Revenue, will only cause massive dilution, yet therefore will remain stagnated for years......, so in order to raise necessary capital they will have to do just that, secondary offering thus dilution in a company not profitable. Investors lose either way. The comparison of TEVE stock and gold is flawed. Stocks and Gold are comparing apples and oranges, Right now there is plenty of gold on the market to buy and sell, what would happen if Gold could no longer be traded, no longer a market where people would not buy the current ask or people that held gold would not sell. The price would stagnate or drop considerably. Gold is a liquid market easy to buy easy to sell, thus the price increase and decrease based on demand. More gold is being mined every day, Whereas TEVE will only become liquid if more shares are made available. Good comparison though, and it shows why TEVE stocks volume is almost zero and the price is not moving.
Some keep stating that a low float is a good thing, no it is not, you must have liquidity in the market, you must have volume, if all of those 55,000 shares that mr lenfest does not own are now in accounts of people, the share price goes no where, no buying, no selling, stagnant, even if positive reports start coming out, no sells?? No increase in price?? So again, expect more shares to be offered in a secondary offer if there is any type of good news, as they must finance the upcoming year. Or a for sale sign put on the front door. Either way comparing this to the other two stocks I previously mentioned that Mr Lenfest has invested in is valid as none of them have prospered.
OK, one last time, first look at the IHUB board for TEVE, what does it say for outstanding shares. The float consist of shares that can be publicly traded. These include the shares Mr Lenfest owns. Only shares not in the float are those Authorized shares that are Restricted. So over 600,000 shares, and if you don't believe IHUB believe the Filed financials of TEVE after the 1 for 200 reverse stock split. To explain further, if and only IF, TEVE becomes profitable enough to pay dividends the amount of money the company decides to pay out will be divided by the amount of shares Outstanding. Therefore the money would be divided by 615,000+ shares and thus the company would announce a per share dividend of share owners on a certain date. To constantly say 55,000 are in the float is wrong. What happens if Mr Lenfest passes away, what would happen to his shares??? We don't know but they would still be in the float and as it appears they would all be donated to a good cause and thus sold on the open market. There you have it, now if you want to say there are 55,000 available for those other than the majority stockholder even that would be wrong as many of those have already been sold and being held. To know for sure contact TEVE's listing agent.