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Who is the JackAss calling Generic Name a Donkey?
I thought part of the rules here was to stay on topic, (GLGT), and don't attack others. Nothing was said in that post that added any value, it just attacked Generic.
As far as GLGT, I am worried we will be a small % of the new company (RS) with low value. It is a tough time in these markets to be 'coming out' like whoever bought us.
I certainly hope there is value and we don't get 100/1 RS or something similar.
I think Reed and Co. tried to make it work with GLGT, they kept trying to moeve forward. It appears GLGT had more skeletons in te closet that were time consuming and costl to clean up. Read my last few posts, (I doubt you want everything repeated), I think the previous management burned down the building walking out the door. They certainly robbed the treasury.
I have a few million shares and b/w friends and family several million more (at my recommendation). So I am worried.
I hope word gets out of how things transpired to get us here. A clear picture would be good.
GLTA
GREAT or YIKES !!!
If SmartWear let Global go to another company be prepared for a reverse split. What is the standard?? We will probably be 5%-15% of the new company. ????
We shouldn't get wiped out but we certainly won't control anything. I will encourage the new management to make my shares worth more and more. I don't even know what the new company is yet but if I can get close to even I will let go of most shares and move on.
GLTA
In my experience a bank wire (actually go to the bank and pay to wire 'cleared funds' are available immediately after received, even for penny stocks. If I wire before 11am it shows up later that day, (after 1pm so the market is closed but it is 100% available for anything the next trading day).
If I do the bank account tranfer online through Scottrade then it is no charge and the funds show up in minutes, available for stocks $4 or more like someone else mentioned.
3 days wait for under $4 (like this penny stock is currently). (I have been trading same day after one of these online transfers and noticed it did not come out of my bank account till the next day).
GLTA
Did not the old management rob the treasury of shares on the way out???
The OS increased by over 40 million shares just before the handover (from 50 some million to almost the max 100 million)
(I think it ended up 98 million out of a possible 100. Someone else is probably good at looking back at the #'s).
If they just awarded themselves these shares before they handed it over, then I suspect they are significantly responsible for much of the problems to set things right to go forward.
If 23 million shares have been reported cancelled then I suspect the old management has been the seller of the other aproximately 20 million shares at any price. (Keeping a lid on any price rise).
IMO this is would be a major reason for no appreciation in price no matter how many shares are bought. It appears to me they have had an almost endless supply of shares (20 million in a thinly traded stock).
I think it is that mysteriously quick OS increase in shares just before the takeover that have been haunting us. (It seems logical to me).
Frustrated but GLTA
If you pull up my posts KnightRider you will see I am consistant, not investorx2face as you imply.
I have several million shares. I have encouraged friends and family to purchase several million shares. All with the expectation that the SmartWear merger brings lots of value. I was a buyer as high as .06 along with friends and family.
We don't know where we stand in the big picture. The Global shares will be a small percentage of the overall bigger takeover company. I don't know how it stands yet. I haven't seen or heard or read the details. I don't who knows yet. But obviously I want the best deal we can get. Being hostile or causing harrassment to the company, HR, legal council, partner companies doesn't get us anywhere good.
If Jimmy could be the liason from investors to the company and report back it would be good. However, I doubt even something like that could work since management would declare they have to say everything in public announcements and etc.
This isn't like the union membership where we get to have a shop steward as a go between.
Not sure what to do but I want it back towards 6 cents or higher so I can pull $ out and let the rest ride, (as well as the others I brought into this ordeal).
No I haven't sold a single share. Yes, I will start to sell some over 5 cents.
GLTA
This board has been pretty hostile to Reed and company.
I am impatient as well to get good new and make $.
However, we must realize they are working for our common good and wait it out, (of course I would like more info than we get).
The final chapter has yet to be written, our share as commoon shareholders is not yet decided. I haven't seen it anywhere.. let me know if you have.
It is the previous 'principals' 'management' of Global that left him the bad accounting and etc. We common shareholders are in his hands.
I wouldn't be putting in efforts to harrass the company with calls and etc.
I am waiting it out.
GLTA
I happened to call Scottrade the other day on the topic.
I asked about getting my stock certificates sent to me so they would not be there in 'street name' to be lent out.
the rep said they don't send out certs for penny stocks and it doesn't matter anyway because they don't allow shorting on a stock under $4. So mine could not be borrowed to be shorted anyway.
(what we are really against is naked short selling)
hope that helps somebody. GLTA
I'm not saying this is happening to us (since we have no volume), but is an interesting read and may be happening to another stock you have, I know it has mine.
GLTA go glgt
--------------------------------
Subject: naked shorts (info from someone else)
Thought I'd drop this note about NSS and pinksheet/otcb companies.
There’s a form of the securities fraud known as naked short selling that is becoming very popular and lucrative to the market makers that practice it. It is known as “Cellar boxing” and it has to do with the fact that the NASD and the SEC had to arbitrarily set a minimum level at which a stock can trade. This level was set at $.0001 or one-one hundredth of a penny. This level is appropriately referred to as “the cellar”. This $.0001 level can be used as a "backstop" for all kinds of market maker and naked short selling manipulations.
“Cellar boxing” has been one of the security frauds du jour since 1999 when the market went to a “decimalization” basis. In the pre-decimalization days the minimum market spread for most stocks was set at 1/8th of a dollar and the market makers were guaranteed a healthy “spread”. Since decimalization came into effect, those one-eighth of a dollar spreads now are often only a penny as you can see in Microsoft’s quote throughout the day. Where did the unscrupulous MMs go to make up for all of this lost income? They headed "south" to the OTCBB and Pink Sheets where the protective effects from naked short selling like Rule 10-a, and NASD Rules 3350, 3360, and 3370 are nonexistent.
The unique aspect of needing an arbitrary “cellar” level is that the lowest possible incremental gain above this cellar level represents a 100% spread available to MMs making a market in these securities. When compared to the typical spread in Microsoft of perhaps four-tenths of 1%, this is pretty tempting territory. In fact, when the market is no bid to $.0001 offer there is theoretically an infinite spread.
In order to participate in “cellar boxing”, the MMs first need to pummel the price per share down to these levels. The lower they can force the share price, the larger are the percentage spreads to feed off of. This is easily done via garden variety naked short selling. In fact if the MM is large enough and has enough visibility of buy and sell orders as well as order flow, he can simultaneously be acting as the conduit for the sale of nonexistent shares through Canadian co-conspiring broker/dealers and their associates with his right hand at the same time that his left hand is naked short selling into every buy order that appears through its own proprietary accounts. The key here is to be a dominant enough of a MM to have visibility of these buy orders. This is referred to as "broker/dealer internalization" or naked short selling via "desking" which refers to the market makers trading desk. While the right hand is busy flooding the victim company's market with "counterfeit" shares that can be sold at any instant in time the left hand is nullifying any upward pressure in share price by neutralizing the demand for the securities. The net effect becomes no demonstrable demand for shares and a huge oversupply of shares which induces a downward spiral in share price.
In fact, until the "beefed up" version of Rule 3370 (Affirmative determination in writing of "borrowability" by settlement date) becomes effective, U.S. MMs have been "legally" processing naked short sale orders out of Canada and other offshore locations even though they and the clearing firms involved knew by history that these shares were in no way going to be delivered. The question that then begs to be asked is how "the system" can allow these obviously bogus sell orders to clear and settle. To find the answer to this one need look no further than to Addendum "C" to the Rules and Regulations of the NSCC subdivision of the DTCC. This gaping loophole allows the DTCC, which is basically the 11,000 b/ds and banks that we refer to as "Wall Street”, to borrow shares from those investors naive enough to hold these shares in "street name" at their brokerage firm. This amounts to about 95% of us. Theoretically, this “borrow” was designed to allow trades to clear and settle that involved LEGITIMATE 1 OR 2 DAY delays in delivery. This "borrow" is done unbeknownst to the investor that purchased the shares in question and amounts to probably the largest "conflict of interest" known to mankind. The question becomes would these investors knowingly loan, without compensation, their shares to those whose intent is to bankrupt their investment if they knew that the loan process was the key mechanism needed for the naked short sellers to effect their goal? Another question that arises is should the investor's b/d who just earned a commission and therefore owes its client a fiduciary duty of care, be acting as the intermediary in this loan process keeping in mind that this b/d is being paid the cash value of the shares being loaned as a means of collateralizing the loan, all unbeknownst to his client the purchaser.
An interesting phenomenon occurs at these "cellar" levels. Since NASD Rule 3370 allows MMs to legally naked short sell into markets characterized by a plethora of buy orders at a time when few sell orders are in existence, a MM can theoretically "legally" sit at the $.0001 level and sell nonexistent shares all day long because at no bid and $.0001 ask there is obviously a huge disparity between buy orders and sell orders. What tends to happen is that every time the share price tries to get off of the cellar floor and onto the first step of the stairway at $.0001 there is somebody there to step on the hands of the victim corporation's market.
Once a given micro cap corporation is “boxed in the cellar” it doesn’t have a whole lot of options to climb its way out of the cellar. One obvious option would be for it to reverse split its way out of the cellar but history has shown that these are counter-productive as the market capitalization typically gets hammered and the post split share price level starts heading back to its original pre-split level.
Another option would be to organize a sustained buying effort and muscle your way out of the cellar but typically there will, as if by magic, be a naked short sell order there to meet each and every buy order. Sometimes the shareholder base can muster up enough buying pressure to put the market at $.0001 bid and $.0002 offer for a limited amount of time. Later the market makers will typically pound the $.0001 bids with a blitzkrieg of selling to wipe out all of the bids and the market goes back to no bid and $.0001 offer. When the weak-kneed shareholders see this a few times they usually make up their mind to sell their shares the next time that a $.0001 bid appears and to get the heck out of Dodge. This phenomenon is referred to as “shaking the tree” for weak-kneed investors and it is very effective.
At times the market will go to $.0001 bid and $.0003 offer. This sets up a juicy 200% spread for the MMs and tends to dissuade any buyers from reaching up to the "lofty" level of $.0003. If a $.0002 bid should appear from a MM not "playing ball" with the unscrupulous MMs, it will be hit so quickly that Level 2 will never reveal the existence of the bid. The $.0001 bid at $.0003 offer market sets up a "stalemate" wherein market makers can leisurely enjoy the huge spreads while the victim company slowly dilutes itself to death by paying the monthly bills with "real" shares sold at incredibly low levels. Since all of these development-stage corporations have to pay their monthly bills, time becomes on the side of the naked short sellers.
At times it almost seems that the unscrupulous market makers are not actively trying to kill the victim corporation but instead want to milk the situation for as long of a period of time as possible and let the corporation die a slow death by dilution. The reality is that it is extremely easy to strip away 99% of a victim company’s share price or market cap and to keep the victim corporation “boxed“ in the cellar, but it really is difficult to kill a corporation especially after management and the shareholder base have figured out the game that is being played at their expense.
As the weeks and months go by the market makers make a fortune with these huge percentage spreads but the net aggregate naked short positions become astronomical from all of this activity. This leads to some apprehension amongst the co-conspiring MMs. The predicament they find themselves in is that they can’t even stop naked short selling into every buy order that appears because if they do the share price will gap and this will put tremendous pressures on net capital reserves for the MMs and margin maintenance requirements for the co-conspiring hedge funds and others operating out of the more than 13,000 naked short selling margin accounts set up in Canada. And of course covering the naked short position is out of the question since they can’t even stop the day-to-day naked short selling in the first place and you can't be covering at the same time you continue to naked short sell.
What typically happens in these situations is that the victim company has to massively dilute its share structure from the constant paying of the monthly burn rate with money received from the selling of “real” shares at artificially low levels. Then the goal of the naked short sellers is to point out to the investors, usually via paid “Internet bashers”, that with the, let’s say, 50 billion shares currently issued and outstanding, that this lousy company is not worth the $5 million market cap it is trading at, especially if it is just a shell company whose primary business plan was wiped out by the naked short sellers’ tortuous interference earlier on.
The truth of the matter is that the single biggest asset of these victim companies often becomes the astronomically large aggregate naked short position that has accumulated throughout the initial “bear raid” and also during the “cellar boxing” phase. The goal of the victim company now becomes to avoid the 3 main goals of the naked short sellers, namely: bankruptcy, a reverse split, or the forced signing of a death spiral convertible debenture out of desperation. As long as the victim company can continue to pay the monthly burn rate, then the game plan becomes to make some of the strategic moves that hundreds of victim companies have been forced into doing which includes name changes, CUSIP # changes, cancel/reissue procedures, dividend distributions, amending of by-laws and Articles of Corporation, etc. Nevada domiciled companies usually cancel all of their shares in the system, both real and fake, and force shareholders and their b/ds to PROVE the ownership of the old “real” shares before they get a new “real” share. Many also file their civil suits at this time also. This indirect forcing of hundreds of U.S. micro cap corporations to go through all of these extraneous hoops and hurdles as a means to survive, whether it be due to regulatory apathy or lack of resources, is probably one of the biggest black eyes the U.S. financial systems have ever sustained. In a perfect world it would be the regulators that periodically audit the “C” and “D” sub-accounts at the DTCC, the proprietary accounts of the MMs, clearing firms, and Canadian b/ds, and force the buy-in of counterfeit shares, many of which are hiding behind altered CUSIP #s, that are detected above the Rule 11830 guidelines for allowable “failed deliveries” of one half of 1% of the shares issued. U.S. micro cap corporations should not have to periodically “purge” their share structure of counterfeit electronic book entries but if the regulators will not do it then management has a fiduciary duty to do it.
A lot of management teams become overwhelmed with grief and guilt in regards to the huge increase in the number of shares issued and outstanding that have accumulated during their “watch”. The truth however is that as long as management made the proper corporate governance moves throughout this ordeal then a huge number of resultant shares issued and outstanding is unavoidable and often indicative of an astronomically high naked short position and is nothing to be ashamed of. These massive naked short positions need to be looked upon as huge assets that need to be developed. Hopefully the regulators will come to grips with the reality of naked short selling and tactics like "Cellar boxing" and quickly address this fraud that has decimated thousands of U.S. micro cap corporations and the tens of millions of U.S. investors therein.
Good idea Jimmy, I had the same one.
Yesterday I put in a bid for 100k @ 0.006 since 5000 shares had traded there. I ended up only filling 5000 @ .6 cents so there weren't many available at that price. That was it for the 10k shares traded yesterday.
It seems like there are endless shares that come to market if the bid is up at all. I too will be gun shy at more shares untill something happens. I have cost averaged down as much as I can.
Still waiting.... GLTA
I dropped by when I was in Vegas Sept./Oct.
15 minutes from the strip.
2 ladies at the window, 2nd floor, were nice as could be, collecting their mail and scheduling the conference room when needed. I asked when the next meeting was scheduled and I believe she said it was 'SmartWear' that had it scheduled for the next weekend for meetings.
I know the Nevada corporate rules are better and they probably wanted to get away from California. I was disappointed but have bought more shares since.
I am hoping this thing comes together real soon.
GLTA
Just to clarify some #'s that have been discussed.
If someone gets 2/10's of a penny discount. Then it is a 20% discount when the price was a penny.
0.002 discount from 0.01 is 0.008 that is a 20% dicount.
So to buy it at .008 and sell at a penny (.01) is a 25% gain.
There was more incentive to do it than the 2% someone has been suggesting. (it is at least 20%).
GLTA
If he paid more than the price available to the General Public he probably got Warrants (options) with the shares.
GLTA
I would hope to get off the Pinks and onto another Exchange.
I did not think you can attract any serious money, (institutional $), until you were off the Pinks.
From the sounds of it I like MD, but I hope he desires to
get onto a bigger/better fully reporting exchange sooner
than later. (Doesn't have to be immediate, just a goal).
(am I missing something or does this sound right).
GLTA go CPRK
Read back a few, it was mentioned 3 or 4 posts ago.
I just said if it true than that might explain delays and lack of info., (by the way it was explained).
GLTA
If that explains the lack of info I would be happy know that.
Otherwise this being 'in the dark' from an investors point of few in no good.
I'm thinking GLGT better be in the middle of all this.
I hope they give us a breakdown soon of where GLGT stands as the host of all these companies or at least a % owner.
We need to get off the pinks and get valuable.
GLTA
I agree SoCal, those items seem to be 'our' products.
We better be 'just one big happy family' of companies or someone is shortchanged.
GLTA
Many here are in the same boat.
I have dug in too deep to quit now. (I sometimes consider it lost but don't want to accept it). Everytime I am discouraged and tired of waiting there is some glimmer of hope. We do need to hear of something "Real" going on. I expect they have been working hard behind closed doors. Every once in a while we hear of progress.
I am not suprised the CEO doesn't call individual investors. In fact I think most investors would not want CEOs to call individual investors. Otherwise you would feel like you had to call him/her or be out of the loop. I don't want to invest in a company where the CEO spends too much time on the phone with investors. Get some work done.
That said .... I sure would like to hear more from someone.
GLTA
Great effort Doc.
Glad to see that what you find backs up what we hope is going on.
The clock is ticking and time will tell.
GLTA
It is a long time between pieces of information from the company. But, almost every time it is information about progress, however limited. They are not on a beach having drinks.
I want progress and I want to hear about it and the plan going forward. However, if getting off the pinks takes longer than planned ... I can wait. It seems they are making progress and getting deals done. Save all the announcements for once off the pinks to get the most out of it in stock price appreciation. That is what I would do.
I'm not sure I like how it looks to have these other companies buying our majority interest and advertising the products I thought were SmartWear/Global. I'd like some answers. But, I have been temporarily satisfied with each announcement that something is being done. No need for a lawsuit or orange jump suits. I expect the explanation will be satisfactory in the end. (too long between announcements)
I've been waiting for this to explode with publicity and contracts and being traded 'off the pinks'.
I hope "it" happens with a burst and happens soon. I'm tired of waiting but, wait I must.
GLTA
Lets not get too carried away with this selling at a penny deal.
Shares have been selling for a penny for a long while. She could have sold lots of shares at a penny in the open market.
The fact that she was willing to do the deal 'not on the open market' is good that it wouldn't hurt or suppress anybody elses plans.
I won't sell mine for a penny. I have no problems if someone else wants to do it. There is the whole Bull/Bear attitude but i'm bullish ... eventually, (I have to be at this point).
Sounds like she may just be tired of it and wants out, nothing wrong with that.
Lets stick with info.
GLTA
I'm stunned at this news coming from overseas.
Now I am eager to hear the specifics. 'Applied Digital will buy controlling interest' ??? It seemed like Applied Digital must have been heavily connected to GLGT to have 'our' Silent Soldier like they did.
Does this mean we have a big cash payment coming in? How much of a minority share do we have? What is it worth, what are they paying for the majority interest?
Lots of questions, eager to hear the answers and find out how it affects my $/shares.
I gotta think Bob is making deals that adds value but I hate being in the dark so long.
GLTA
Don't be too dismayed.
Applied Digital was in the discussion here a few months back as a potential partner or merger. It is possible they are part of the team now. If that group added RFID &/or GPS to the 'Soldier' to market it then I guess they would claim to have 'produced' the marketable item. They must be part of our team now or Global/SmartWear wouldn't allow them to make such claims. We probably have one big beautiful conglomerate of companies here under one roof with big potential.
Lets get it done and known to the world. I want this thing to be worth some $.
GLTA
SoCal,
we know there will be more shares in the grand total from SmartWear than from Global in the final combo company.
I guess it doesn't matter if we get a 1 for 10 RS of GLGT or if the 'Preferred' SmartWear shares get a 10 for 1 so they have 10 times as many to offset for the low price they are merging with into GLGT.
I just used 10 as an example. It could be 5x, 20x, 50x or any #. I have no idea, I just know they won't merge at a penny if they paid the usual private placement price per share of $1 or more.
I seems like things are moving along and we will soon know. I may pick up more myself if they are available at a penny since I can't imagine we would get a 100 to 1 RS (or them 100x their shares to merge)
all of course just my thoughts and opinions.
GLTA
IMHO Global was to become the minority % of the SmartWear/Global merger. If it is a smaller % of a bigger and growing company than it should be good for all.
If SmartWear people are in at a higher $ per share then the question becomes: how many shares of Global is a SmartWear share worth to combine the two companies.
What reverse split of Global could combine to each share of SmartWear.
That has been my expectation, that is why I have a few million shares of Global, (so I can have a few hundred thousand shares of the 'New' company.
That is what I figure happens. 5 to 1, 10 to 1, 20 to 1 ????
IMHO
GLTA
I am sure part of it is friends and family.
I have turned several people onto this stock, especiall at .01 !!
I'm still a believer, especially this late in the game at these prices. Every $1000 is about 100,000 shares. Several people I know have put up $5000 to $10,000. So 1/2 million to 1 million shares come from people we know on many days.
I don't think the outside world has jumped in yet. It will be Big when/if we get off the Pinks and are 'Discovered'.
I still promote GLGT to my friends and family. They are getting in cheaper than me, but I am happy for them.
As long as this takes off soon or my name is Mud.
Go GLGT
GLTA
Thanks for the update. It brings some comfort.
GLTA
This may be the last chance to pick up 'cheap' shares.
If things just get better (and continued news) we may never see these prices again. I hope you have all you want.
We have all been waiting, I am ready to watch it move up from here. IMHO
Go GLGT
GLTA
I don't think you have much risk at these prices, (although zero is always a possibility).
I started buying at 10 and 12 cents. I have a few hundred k share. I did buy more at 2 1/2 cents and lower for a better averagei price. I am tapped out. I have another penny stock I'm waiting on from before CPRK. I have a few million shares there and I think this is the year for both.
I did get my brother into CPRK and he has been a buyer from 2 1/2 cents down. Again, just a few hundred k shares. He is out of work now or we would both be buying more at this price and so close to the prize we have been waiting for.
We will wait it out from here.
Big chance of success with this one but strange things happen.
IMHO
Go CPRK, GLTA
News Today:
still cleaning up the old mess.
GLTA
---------------------------------------
Global General Technologies, Inc. Announces Cancellation of 23 Million Shares Representing 23% of Shares Outstanding
By: Marketwire .
Jan. 8, 2009 02:12 PM
HENDERSON, NV -- (Marketwire) -- 01/08/09 -- Global General Technologies, Inc. (PINKSHEETS: GLGT) announced today that 23,623,000 common shares of the company have been cancelled.
Global General has terminated its agreement with Asset Growth Partners which agreement was signed on May 8, 2008. The common shares were issued by previous management for undocumented claims and for the resolution of all outstanding debt of Global General. Asset Growth Partners requested the issuance of the Common Stock to its affiliate, Greene Spring Company. Asset Growth Partners failed to make payment on the debt or provide support for the issuance of the shares, resulting in the request by the company for the return of the unearned shares.
GLGT received a legal opinion in support of its understanding that Asset Growth Partners and its affiliate, Greene Spring Company, exchanged the assumption of debt for the shares, yet neither Asset Growth Partners nor Greene Spring Company have acted to resolve the outstanding obligations and continues to fail and refuses to do abide by the agreement.
Asset Growth Partners was notified of the cancellation and was asked by GLGT to return the unearned shares to Global General. Since Asset Growth Partners chose not to return the stock, the certificate was cancelled which reduces the shares outstanding by 23%.
About Global General Technologies
All statements in this news release that are other than statements of historical facts are forward-looking statements, which contain our current expectations about our future results. Forward-looking statements involve numerous risks and uncertainties. We have attempted to identify any forward-looking statements by using words such as "anticipates," "believes," "could," "expects," "intends," "may," "should" and other similar expressions. Although we believe that the expectations reflected in all of our forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct.
A number of factors may affect our future results and may cause those results to differ materially from those indicated in any forward-looking statements made by us or on our behalf. Such factors include our limited operating history; our need for significant capital to finance internal growth as well as strategic acquisitions; our ability to attract and retain key employees and strategic partners; our ability to achieve and maintain profitability; fluctuations in the trading price and volume of our stock; competition from other providers of similar products and services; and other unanticipated future events and conditions.
For more information, please contact
Global General Technologies, Inc.
10120 South Eastern Avenue
Suite 200
Henderson, Nevada 89052
Global General Technologies, Inc.
Bank of China Tower
Level 25
1 Garden Road, Central
Hong Kong
Toll Free: 1-877-800-4660. Ask for Investor Relations
Website: http://www.glgtinc.com
Email: ir@glgtinc.com
Published Jan. 8, 2009
Copyright © 2009 SYS-CON Media. All Rights Reserved.
Thanks for trying.
GLTA
I agree with you on several points JimmyRich.
I want the moderator to own shares and have a vested interest in following the stock. I would want them to help in discovery if possible. I think our moderator has done that up to the present. I don't know of anything new to discuss either.
I am happy to hear the report of 'response' to the California court issue.
Usually when someone says they spoke to a substantial authority at SmarWear(Global) they report back here with a postive attitude, (which lasts for awhile, then too much time lapses before the next positive announcement).
It is taking too long in my opinion. However, things usually take longer than expected. If they are there diligently working and making progress then I will be happy with the results. I just wish we heard more.
I wish the moderator could get 'extra' info to share, as the liason.
Several sites have moderators and assistant moderatora. See if you can be the assistant. You would have to tone down comments a little. (for example, "Zero" credibility is a little strong). See what you can do. Bring all the info you can, most of us like more info.
GLTA p.s. I would be happy to call Spartan if no one else does it first.
What is the job as a moderator? Isn't is to keep the postings on subject, (GLGT/SmartWear), filter out foul language and make sure people don't attack each other. Overall this site does well with that. I think the moderator gives people some latitude even when something is posted negative about the moderator. Tough spot to be in. People waffle back and forth here constantly.
I like to read everything about the company or industry anyone posts. I'm not big on reading negatives about each other.
Back to the subject: They are obviously still doing something behind closed doors, (answering the court and etc., thanks for that info SoCal).
I have to think they are getting work done as well. I just want to hear something about it. I am waiting for the big surprise day when they come out of the closet with all the progress. I just want it to be sooner than later.
GLTA long holders
Seasons Greetings to all.
I think it is the Canadians who must have had a transaction date of 12-24 for their US stocks to count in 2008 Canadian taxes.
Best wishes for the New Year to everyone here.
Go GLGT
I can't imagine there is a whole lot to do but wait. I'm sure there are more readers, (just not posting).
I can't come up with something interesting to discuss so I have just been waiting. Most of what is posted sounds like frustration. I am right there with ya, but still waiting.
I have to think they are working and making progress and we will hear about it when they feel like announcing it to the world, (not just us). That is my hope.
Without hope, the wait would be too much.
GLTA
When they reported the delay there is a time limit associated with it. I believe it was the 5th of the following month, (which puts us at Friday, December 5, if I read it correctly).
GLTA
It was my understanding the programs like Ident-a-kid are a big potential money maker. The fee may only be about $5 per month but it adds up if SmartWear/Global gets a monthly cut of it. Example $1 a month royalty for eventual millions of users. Possible millions a month in royalty or license fees for the use of SW/Global technology. I thought that was one of the big potential paydays, as well as many others.
GLTA
Imagine that... they do business with the law firm of
Wilson-Sonsoni-etc. It seems some time ago I read here that some posters were saying it wasn't true and SW had made it up and someone had even called the law firm.
It seems SW is plugging along, doing just what they said they were doing. It looks like the back and forth response for more info between the SEC and 'our' accounts at SW shows they are working at it and it is a tough merger, (thanks for that DD SoCal).
I will keep waiting it out. The light at the end of the tunnel is getting closer and closer.
GLTA
If you go... thank you in advance for the report.
I doubt you would see anybody with the names we hear about.
I imagine a lawyer would be there to represent SmartWear. I read the link to the civil claim against SW and it sounds like somebody was disgruntled and wants to cause problems. There may or may not be much to it. If you are there you will be able to hear SW's side or rebuttal and let us know if you feel there is anything to it.
Lets not assume it is the end.
I hope we get past this fast and keep going on with some business, (and hear about it soon).
IMHO, GLTA
I guess we must agree on the terminology we use. I have been loose with the statement of Global was a 'Shell'.
It is my understanding that a clean 'Shell' is just that, a clean shell, never been a business, and ready to move into with your company and get your own stock symbol. People have a business where they get these ready and they are for sale. It is one way to buy into a clean shell and get started with very little hassel, just buy it. Global was not a shell, and certainly not a clean shell. (You might say it was just a shell of the company it once was, with lots of skeletons).
Something like Global was a publicly traded company, failed business, all but wiped out, certainly bankrupt. The 'merger' would be full of landmines for an accountant. From what I read they had merged, sold or bought companies and changed names. They owed people money and they were in lawsuits in its history for ownership or shares or loans and etc.
No clean shell, no easy transition. Was there anybody around that knew what was really going on to help make the transition and history correct to the satisfaction of the SEC for the new guys taking over. It all has to be done right if this new company is really what we hope it is.
I have a little more time to wait. It has not even been a year. I have heard of things going dark for 2 years before big news and breakthrough. I hope our crew is much faster than that.
GLTA