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Rainmaker on MMRF
"BTW.....it will be news of a deal for the Biotech assets that will send the stock price soaring almost instantly. That news could hit at any time and is one of the things Lorsch is working on in NYC this week. Not the time to be on the outside looking in here, Biotech news could hit at any time imho."
Company still owns its bio tech assets it inherited through a reverse merger 140m was put into this tech and it went to stage 3 trials
MMR Information Systems and sanofi-aventis Enter Into Agreement Regarding Anti-CD20 Monoclonal Antibodies.
http://finance.yahoo.com/news/MMR-Information-Systems-and-iw-3085022759.html?x=0&.v=1
China Media Express Holdings:CCME)-NASDAQ
• Recent price: $12.93
• 52 week range: $7.35 to $14.82
• ’09 performance: $95.9 million revs- $56.6 million net profits
• Market Cap: $400 million
• Q1 Financials: $44.5 million in revs (137% growth from Q1 ’09), Net: $18.1 million after subtracting one stupid GAAP non cash charge
• 2010 Estimated EPS: $1.75 to $2- company expects to earn about $70 million with an estimated 36 million shares I&O
• Overview: In 2008 Vision Media (VISN) was one of the hottest stocks around. It was $6 in March of ’08, and ran to $26 by the end of July. The company was deploying flat panel displays all over China at high traffic points and making the screens available to advertisers. The business model was flawed as the advertisers came to understand people really didn't see the ads as they moved around rather busily on their way to wherever they were going. CCME has taken a different approach, and advertisers love it.
There are 21,500 mass transit buses in China’s 5 most prosperous municipalities sporting CCME’s advertorial flat panel displays. The audience is captive on the bus, and the advertising is far more effective. If the company can deliver $2 in EPS this year, I cant see the stock trading much under $25 to $30 as interest comes back to China stocks. Amazingly, there is not one analyst covering the stock yet, which is another reason to own it now.
In order to execute any business plan you need cash
Posted by: lowtrade Member Level
Date: Monday, May 24, 2010 12:25:43 AM
In reply to: phrantic who wrote msg# 16894
Post # of 17005
The only thing start up companies have to raise capital is stock. They don't have a history
of company business successes to take to a bank for funding. No assets, receivables or margins.
In order to execute any business plan you need cash. If one wants their favorite company to success, they should want them to have cash.
So if they sell shares, give them for funding, or offer warrants, options or conversion rights to raise cash, that is good!
Dilution scares, just another term penny players use incorrectly. Dilution can hurt exchange stocks perceived value, not their real value, but not wanting or expecting it, in startup pennyland, is just wrong!
Why would you put your money into a story belief and not want them to raise the cash needed to succeed? Besides, if any penny does grow enough to up list off the OTC, 95% of them do reverse splits to meet up listing requirements anyway.
The main thing wrong about dilution hurting a startup is, the only thing dilution effects is the EPS. (earnings per share) And startups DON"T have earnings, so they don't have an EPS and dilution actually does not effect anything!!!
Pennyland O/S is not relevant, if it helps the company raise the capital needed to succeed. Just the basics of crawling to walking to running for a company. Feed them to grow, put them on a diet to fit in and balance intake for the long hall.
MMRF a rare life changer stock
davidam, were you pumping MMRF or did you have a change of opinion?
Posted by: davidam Member Level
Date: Saturday, May 15, 2010 6:18:23 AM
Post # of 132280
MMRF a rare life changer stock
Multi billion dollar company in the making. Exponential gains ahead. Currently near 50m cap. The very best management team I ever seen assembled in penny land. Revenues will be residual and represent organic growth a cancellation rate of only 1% They have developed the most advanced Electronic medical records tech in their peer group and are launching massive deals worldwide
From Microsoft’s top executive to NASA Administrator , Former House Minority Leader , Former Congressman, NASA Astronaut, political figures, and a CEO that’s a wealthy successful businessman that won white house humanitarian awards and took a 50m cap company to billion status before he resigned
MMRF has working partnerships and or agreements with Kodak, Unis China, Google Health, sanofi-aventis, Nihilent Technologies
MMRF Signs Global contract with Chartis who has 40m clients in 160 countries worldwide. MMRF tech will be embed in current policy holders they don’t have to sign up. CEO currently on a global trip launching the deal in many countries
http://finance.yahoo.com/news/MMR-Information-Systems-Inc-iw-2121287118.html?x=0&.v=1
MMRF predicted MMRPro implementation in China with Unis-Tonghe by 3rd quarter this year
http://ih.advfn.com/p.php?pid=nmona&article=40425772&symbol=USBB%3AMMRF
Chartis released this very same PR themselves
http://www.chartisinsurance.com/ncglobalweb/internet/US/en/files/PR_MMR_04-08-10_tcm295-255477.pdf
This one deal alone can be worth 100's of millions many more of its kind expected
CEO Owns 56,656,668 shares Releases a form form buys 2614684 additional shares through purchase of warrants
MMRF negotiated a deal to buy 1000 scanners coming from Kodak which represent 22k sale per (22m)once its all setup and sold . Company has projected an additional1m individuals to sign up this year alone for online medical records
MMR Information Systems
, Inc. Taps Into Trillion Dollar Latino Market
http://finance.yahoo.com/news/MMR-Information-Systems-Inc-iw-1869373328.html?x=0&.v=1
Company still owns its bio tech assets it inherited through a reverse merger
140m was put into this tech and it went to stage 3 trials
MMR Information Systems and sanofi-aventis Enter Into Agreement Regarding Anti-CD20 Monoclonal Antibodies
http://finance.yahoo.com/news/MMR-Information-Systems-and-iw-3085022759.html?x=0&.v=1
ACCUMULATION BEGAN 3/15/10
Historical Prices
Date Open High Low Close Volume Adj
Close
2010/05/27 0.18 0.19 0.17 0.18 1,262,561 0.18
2010/05/26 0.18 0.18 0.16 0.17 772,765 0.17
2010/05/25 0.20 0.22 0.16 0.17 1,046,417 0.17
2010/05/24 0.22 0.23 0.20 0.21 283,805 0.21
2010/05/21 0.22 0.23 0.20 0.22 618,673 0.22
2010/05/20 0.20 0.22 0.18 0.22 853,390 0.22
2010/05/19 0.24 0.24 0.18 0.20 2,127,230 0.20
2010/05/18 0.28 0.28 0.23 0.24 1,367,995 0.24
2010/05/17 0.33 0.36 0.29 0.30 1,627,204 0.30
2010/05/14 0.29 0.34 0.29 0.32 611,746 0.32
2010/05/13 0.27 0.30 0.26 0.29 484,561 0.29
2010/05/12 0.25 0.27 0.25 0.26 468,498 0.26
2010/05/11 0.26 0.26 0.24 0.25 239,001 0.25
2010/05/10 0.24 0.26 0.24 0.24 330,827 0.24
2010/05/07 0.24 0.26 0.23 0.25 839,711 0.25
2010/05/06 0.29 0.32 0.22 0.27 2,018,570 0.27
2010/05/05 0.28 0.35 0.26 0.30 2,610,741 0.30
2010/05/04 0.23 0.27 0.22 0.27 1,400,820 0.27
2010/05/03 0.24 0.25 0.22 0.22 496,646 0.22
2010/04/30 0.21 0.24 0.21 0.24 851,260 0.24
2010/04/29 0.20 0.21 0.19 0.21 1,049,940 0.21
2010/04/28 0.19 0.23 0.19 0.20 1,531,481 0.20
2010/04/27 0.20 0.20 0.18 0.19 1,033,713 0.19
2010/04/26 0.18 0.20 0.17 0.20 493,487 0.20
2010/04/23 0.17 0.18 0.16 0.18 356,415 0.18
2010/04/22 0.17 0.18 0.16 0.17 358,803 0.17
2010/04/21 0.15 0.17 0.15 0.17 300,760 0.17
2010/04/20 0.16 0.17 0.15 0.17 397,275 0.17
2010/04/19 0.14 0.16 0.14 0.16 545,260 0.16
2010/04/16 0.16 0.16 0.15 0.15 293,076 0.15
2010/04/15 0.16 0.16 0.16 0.16 151,756 0.16
2010/04/14 0.15 0.16 0.15 0.16 357,532 0.16
2010/04/13 0.15 0.16 0.14 0.16 1,046,080 0.16
2010/04/12 0.18 0.18 0.15 0.17 731,896 0.17
2010/04/09 0.19 0.19 0.16 0.17 1,363,249 0.17
2010/04/08 0.15 0.19 0.14 0.17 1,570,632 0.17
2010/04/07 0.13 0.15 0.13 0.15 152,594 0.15
2010/04/06 0.15 0.15 0.13 0.13 333,539 0.13
2010/04/05 0.13 0.16 0.12 0.15 400,267 0.15
2010/04/02 0.14 0.14 0.13 0.13 1,427,604 0.13
2010/04/01 0.14 0.15 0.12 0.13 1,427,604 0.13
2010/03/31 0.18 0.18 0.16 0.16 816,657 0.16
2010/03/30 0.15 0.17 0.14 0.17 2,168,083 0.17
2010/03/29 0.13 0.15 0.13 0.15 869,734 0.15
2010/03/26 0.11 0.13 0.11 0.13 140,351 0.13
2010/03/25 0.13 0.13 0.10 0.12 346,732 0.12
2010/03/24 0.11 0.13 0.11 0.12 507,992 0.12
2010/03/23 0.13 0.13 0.11 0.12 347,359 0.12
2010/03/22 0.13 0.13 0.091 0.12 719,540 0.12
2010/03/19 0.12 0.13 0.11 0.12 538,539 0.12
2010/03/18 0.12 0.13 0.11 0.12 424,800 0.12
2010/03/17 0.15 0.15 0.12 0.13 630,545 0.13
2010/03/16 0.12 0.15 0.10 0.14 3,587,914 0.14
2010/03/15 0.10 0.12 0.098 0.11 1,139,768 0.11
midtieroil, Some history of Nigeria and SEO FYI
When President Olusegun Obasanjo persuaded the government of Sao Tome and Principe to settle a protracted dispute with ERHC, a little known US oil company, the Saotomean government was oblivious of the fact that ERHC was a front for highly placed Nigerian government officials including the President Obasanjo himself and of the lingering trouble that would unfold thereafter.
In May 2001, as part of an agreement mediated by the Nigerian government, Sao Tome settled it conflict with ERHC that had just been taken over by the Houston-based Nigerian company Chrome Energy Corporation headed by self styled, Sir Ekeka Offor. The new owner, who had taken a 56% stake in ERHC, and on the advice of President Olusegun Obasanjo, withdrew the request for arbitration at the International Chamber of Commerce, Paris, lodged by the company’s previous owners in late 1999.
ERHC contract dispute was brought to the attention of President Olusegun Obasanjo during negotiations with the government of Sao Tome and Principe on the disputed maritime boundary between both countries. President Trovoada of Sao Tome was at the leader of the negotiating team on the Sao Tome side.
Emeka Offor and Chrome reportedly had to pay millions of dollars to creditors to avoid ERHC’s bankruptcy. Consequently, ERHC/Chrome made a mysterious payment of $550,000 to Procura Financial Consultants and one STP Energy Corporation, registered in the British Virgin Islands. Chrome Energy is part of the Chrome Group, a private holding company owned by Sir Emeka Offor. Offor was a well-known ally of the late Nigerian dictator Sani Abacha.
Sao Tome and Principe, a country of slightly over 130,000 inhabitants had very little to no experience in the area of oil exploration and politics. But STP was aware of the importance of reaching maritime border agreements with its neighbors in the Gulf of Guinea. After having filed its maritime boundary claims with the United Nation’s Law of the Sea Commission in New York, the respective maps were sent to the neighboring countries.
Negotiations with Equatorial Guinea commenced in October 1998. Nine months later the Presidents Trovoada and Teodoro Obiang Nguema signed an agreement on the delimitation on their countries’ maritime borders. Five of STP’s 22 deepwater blocks surveyed by Geco/Prokla were located alongside Equatorial Guinea’s territorial waters. A similar agreement with Gabon on the delimitation of the common maritime borders, based on the principle of equidistance between the two countries, was reached in April 2001.
Almost two years earlier in August 1999, a STP government delegation protested in Abuja against the Nigerian government’s decision the previous month to sell deep-sea oil blocks situated in an area claimed by Sao Tome and Principe, STP, as part of its own Exclusive Explorative Zone, EEZ. This development prompted the both countries to commence formal maritime boundary talks four months later. In April 2000 the negotiations ended without an agreement on the maritime boundaries between the two countries.
The main obstacle to reaching an agreement was Nigeria’s refusal to accept Sao Tome’s proposal that based the boundary on equidistance between the continent and the islands. However, faced with the possibility of a prolonged legal conflict with Nigeria, the Santomeans sought a viable compromise settlement.
It was this desire by the government of Sao Tome and Principe to avoid a lengthy legal process to could end up costing the country a lot of money that the government decided to reach an amicable settlement with Nigeria on terms deemed by third parties as completely detrimental to Sao Tome and Principe and very favorable to Nigeria.
Also, it was during this period that Nigeria’s President Obasanjo introduced Sir Emeka Offor to the President of Sao Tome as “The man who will help the country settle its dispute with ERHC.” Obasanjo new that the ERHC was in financial trouble and, was facing possible bankruptcy, based on information provided by the government of Sao Tome and Principe. Emeka Offor was asked to approach officials at ERHC through his oil concern, Chrome, which was already doing very lucrative contracts in the downstream section of the Nigerian Oil industry. Offor won the lucrative contract Turn Around Maintenance, TAM, contract to service Nigeria’s refineries which were almost in unserviceable state when President Obasanjo took over power from Abdulsalami Abubakar in 1999.
Under the agreement, Nigeria received 60% of the profit of the common zone and STP 40%, and they shared the costs of operation in the same proportions. Following several other negotiation rounds, Foreign Ministers Rafael Branco of STP and Dubem Onyia of Nigeria finally signed a 45-year treaty on 21 February 2001 that created a 28,000 sq. km large Joint Development Zone (JDZ) that was to be managed by a Joint Development Authority (JDA) based in Abuja. The Authority’s board consists of four executive directors, two from each country, to be appointed by the respective head of state for a renewable period of six years.
The JDA reports to a Joint Ministerial Council (JMC) comprised of four ministers from each country. The JMC has the overall responsibility for all matters concerning the JDZ. In January 2002 Presidents Obasanjo Nigeria and Menezes of STP inaugurated the JDA office in Abuja. Flávio Pires Dos Santos, former chairman of STP’s National Oil Commission became executive director of the JDA’s Non-Hydrocarbon Resources Department, while Luís Alberto Prazeres, the country’s first minister of National Resources (1999-2001) was appointed executive director of the Commercial and Investment Department.
The Nigerian Taju Umar became executive director of the Monitoring and Inspections Department and Chairman of the JDA, and Carlos Gomes, the former head of STPetro, became deputy director of Monitoring and Inspections. Nigeria advanced $8 million for the first year of operations. Only in February 2004, however, did the JDA officially open a local branch office in São Tomé.
Although lawyers advised against a settlement, because they thought that STP could win the arbitration, President Obasanjo persuaded the government of Sao Tome and Principe to settle the case privately by withdrawing the arbitration The Santomean negotiation team included Foreign Minister Rafael Branco and Trovoada’s son Patrice, the president’s economic advisor who was rumored to have many personal contacts in Nigeria. In addition, Chrome had boasted that its president, Sir Emeka Offor would ask President Obasanjo not to ratify the treaty on the JDZ, and would resort to international law to confiscate STP’s assets abroad and impede oil exploration in STP for many years. STP subsequently abandoned arbitration and the government allowed ERHC/Chrome far-reaching financial advantages within the JDZ, including a 15% working interest in two blocks of ERHC/Chrome’s choice, a 5% share in signature bonuses and a 10% share of profit oil, and a 1.5% over-riding royalty interest in production.
In addition, ERHC/Chrome received two blocks of its choice in the EEZ without paying a signature bonus, and the option to acquire a 15% working interest in another two blocks of its choice. ERHC/Chrome assigned its 49% stake in STPetro to STP and, consequently, relinquished its rights to acquire, as STPetro, four blocks within the EEZ. This new 25-year agreement with ERHC/Chrome replaced the one signed in 1997 and was contingent on the ratification of the treaty on the JDZ by the National Assembly in São Tomé. The Nigerian Foreign Minister Dubem Onyia witnessed the signing of the agreement in May 2001.
Emeka Offor’s threat to block the country from signing a treaty with Nigeria thereby scuttling the country’s ability to start oil exploration was not an empty threat. Indeed, in a meeting the president of Sao Tome in 2001, Chief Dubem Oyia, Nigeria’s then foreign minister, made it very clear during negotiations that Nigeria signing a treaty with Sao Tome was “Contingent on an amicable settlement” with Emeka Offor’s ERHC/Chrome. “Your officials made it very clear that they will not sign a deal with us without Chrome. President Obasanjo came here several times in the company of Offor.” A highly placed government functionary who was part of the negotiating team from Sao Tome told The Times Of Nigeria.
President Menezes of Sao Tome having been told blankly that he has no choice but to deal with Emeka Offor and his Chrome Oil, resigned himself and his tiny country to fate. However, things took a different trend when the United States began to show interest in the treaty signed by Nigeria and Sao Tome. Under the prompting of the United States, the government of the President Menezes contacted a United States law firm and asked it to help investigate the contract.
In May 2002, While President Menezes was in the United States to participate in the UN Children’s Summit, he received a copy of the American lawyers’ analysis of the oil agreements. Back in Sao Tome, on the 24th of May, during a press conference, Menezes publicly demanded the renegotiation of all oil agreements signed by various governments with ERHC/Chrome, Exxon Mobil, Nigeria, and PGS. Based on the lawyers’ analysis, the head of state argued that the agreements contained grave errors and their terms were extremely unfavorable to his country. He also blamed the STP advisors and lawyers who had participated in the negotiations for the prejudicial terms of the contracts.
Menezes attributed the anomalies detected by American the lawyers to a lack of experience of the country’s negotiators. This critique was also directed at former president Miguel Trovoada and his son Patrice, Rafael Branco and Posser da Costa, who had negotiated or signed the contracts, though at the time Menezes had been a deputy for the ADI in parliament and did not raise any doubts about the treaties. Menezes had also reacted in response to demands by the IMF, who in February 2002 had urged the government of Sao Tome to take action following the results of the analysis of the agreement signed with EHRC/Chrome.
The Nigerian government was baffled at the turn of events and threatened that it will make difficult for Sao Tome to start oil exploration should the Island country renege on its agreements with Nigeria and Chrome. With the support of the United States government solidly behind him, President Menezes called Nigeria’s bluff and demanded that the contracts be renegotiated. President Obasanjo was said to have been incensed.
As a way to sweeten the deal and pacify President Menezes, President Obasanjo had made some concessions to Sao Tome. Nigeria had promised to supply 60,000 barrels of oil daily to Sao Tome. Nigeria also promised scholarships to citizens of Sao Tome to study in the United States and the United Kingdom. This concession was added as a memorandum to the JDZ treaty between both countries. The official reason given for the amendment t was the need to compensate Sao Tome for Nigeria’s sole exploration of block 246 which Sao Tome insisted is part of the JDZ but, Nigeria wants sole rights of this block because of the large amount of deposits on it. TheTimesOfNigeria.com has it on good authority that these concession was done to placate the Sao Tomean government on Nigeria’s insistence on Chrome and Emeka Offor as major players in the JDZ.
When the promised 60,000 barrels of daily oil supply and scholarships failed to materialize in good time, President Menezes sent a Santomean delegation to Abuja headed by Rafael Branco, the minister of natural resources for talks with Abuja. On his return from Nigeria, Branco told President Menezes that that before defining the quantity of crude, the modalities of supply had to be discussed. With regard to the promised scholarships, he declared that in September the first students could leave for Nigerian and other universities abroad. This was the commitment he was able to pry way from Abuja.
However, President Menezes refused to by pacified by the concessions. Again, he publicly demanded that the contracts and treaty be renegotiated with particular reference to Chrome’s sweet deal. President Obasanjo was enraged. He summoned his inner caucus and officials at the Nigerian National Petroleum Commission and instructed them to look into ways out of the quagmire.
In June 3, 2002, President Obasanjo flew to Sao Tome along with his trusted officials for a three-hour discussion aimed at reconciling the parties. Sir Emeka Offor of Chrome was present at the meeting. President Menezes’ protocol officials were reportedly angry when Offor arrived with Obasanjo because the meeting supposed to be a private one between the two presidents. After some bickering, Emeka Offor was allowed into the meeting. A highly placed government official who was present at the meeting told The Times Of Nigeria that President Menezes restated his country’s position on the need to renegotiate all the oil contracts and the treaty between both countries.
Again, President Obasanjo sought to make additional concessions to Sao Tome. He promised the advance payment of $5 million for signature bonuses, at the time estimated at $120 million and to help solve the question concerning the daily supply of 60,000 barrels. In July, Nigeria paid the sum $5 million to Sao Tome, however, the question of crude supplies remained unsolved. Again, President Obasanjo’s promise went unfulfilled.
In September of that year, at the UN Summit on Sustainable Development held in Johannesburg, President Obasanjo again promised President Menezes 10,000 barrels of crude per day in compensation for Block 246, only 1/6 of the quantity initially promised. The following month, the Nigerian ambassador to São Tomé, Saidu Pindar, confirmed to Menezes that the supply would be 10,000 barrels per day. The diplomat asserted that this quantity had been fixed in a Memorandum of Understanding signed by both countries on September 25, 2002. Yet two weeks later Minister Branco complained that Nigeria had not fulfilled any provision of the memorandum, although the first oil supplies had been promised for mid-January 2002 when the JDA office was inaugurated.
In early November Menezes assured Obasanjo in a letter that, despite certain misinformation, his country was fully committed to the implementation of the JDZ treaty in every detail. Then he asked if Nigeria was equally committed to the implementation of the treaty including the promises of the memorandum that he described as an integral part of the agreement.
Unknown to President Obasanjo and the Nigerian officials involved in the negotiation is the fact that President Menezes has made up his mind not to go on with the contracts. To help scuttle the contract, he had invited two high-profile American lawyers Greg Craig and Michael O’Connor of the Washington, D.C. based firm William & Connolly visited São Tomé for two weeks at the invitation of President Menezes, to check all oil agreements. While on the island they met regularly with Menezes to discuss their assessment.
The two lawyers came to the same conclusion as their colleagues: the agreements were detrimental to the country’s national interests. Former US congressman Joseph P.Kennedy, the head of Citizens Energy Corporation, had got Craig, who had been President Clinton’s lawyer during the Monica Lewinsky affair, in touch with Menezes.18 At the same time, in an attempt to polish up their image, ERHC/Chrome hired former Chevron Texaco vice-president Richard Matzke as a special advisor.
In September 2002, President Menezes met with President Bush and then attended the annually UN General Assembly in New York. Officials’ privy to the outcome of the meeting told TheTimesOfNigeria.com that President Bush promised to support Sao Tome in the event of any dispute with Nigeria over the disputed oil contracts. He even promised to establish a military base in the Island country. When Nigeria learned of the intention of the United States government to establish a military base in Sao Tome, when President Bush inadvertently mentioned it in an unwritten speech, President Obasanjo saw it a slide on Nigeria and protested to the United States. The military base has been on hold since then. The initial plan was to have the troops and equipment on the ground announcing it to the public.
While in New York, and encouraged by the conclusions of the American lawyers, President Menezes wrote to ERHC/Chrome owned by Emeka Offor that his country would not go ahead with the agreement of May 2001 since it was ‘so terribly one-sided as to be unconscionable and unenforceable’. Nevertheless, Menezes indicated that he was open to renegotiation of the agreement. Four days later the company replied by disputing Menezes’ statement and claimed that as head of state he had no legal authority to cancel any contract since he was non-executive under his country’s semi-presidential Constitution.
ERHC/Chrome stressed that its rights in the JDZ could only be discussed by the JDA and vowed to vigorously defend its rights in the agreement in all international jurisdictions. The following month, ERHC/Chrome filed brief in Washington requesting a US commitment to support the company in any such dispute. At the same time, ERHC/Chrome president Chude Mba arranged to meet President Menezes to discuss a possible compromise. Meanwhile, Menezes threatened that his country would resort to the International courts if the renegotiations with the Nigerian should fail.
In November of 2002, exactly one week after Menezes’s letter to Obasanjo demanding the promised compensations for Block 246, the Nigerian government decided to suspend the long scheduled licensing round for the first nine blocks in the JDZ until Sao Tome clarified the contentious issues with third parties. The third party of interest to Nigeria was mainly Emeka Offor and his Chrome. Nigeria insisted that only after a resolution of these problems would the licensing round go ahead.
Finally, in March of 2003, Emeka Offor’s ERHC/Chrome relinquished its earlier rights to an over-riding royalty interest, a share of signature bonuses and a share of profit in the JDZ. Under the new agreement, ERHC/Chrome increased its rights to participate in the JDZ from a total of a 30% working interest in two blocks to a total of 125% working interest spread over six blocks, ranging from 15% to 30% each. In addition, Chrome was freed from paying signature bonuses on four of the blocks. Although the previous agreement remained essentially intact, the government saw no alternative, since the Nigerian government had threatened to paralyze the licensing round if the agreement with Emeka Offor’s ERHC/Chrome was not respected.
The Chrome justified the excessively favorable terms on the grounds of the $12 million it had invested in the development of STP’s oil sector. STP’s chief negotiator was Rafael Branco, then minister of natural resources, who had been involved in the previous deal with the Nigerians. STP’s National Oil Commission (CNP) had an advisory role in the negotiations. One of the CNP’s members was the Foreign Minister Mateus Meira Rita, a former ERHC consultant who owned 500,000 company shares.
He had received the shares instead of his salary when ERHC had run out of cash. Two other commissions’ members had also been on ERHC’s payroll at STPetro. On April 10, 2003, the new Agreement was officially signed. Analysts also considered the new deal excessively generous to ERHC/Chrome and out of line with international oil industry practices.Potential investors criticized the deal since it compelled them to co-operate with a partner with a limited record of accomplishment in the oil industry.
www.thetimesofnigeria.com/index.php?option=com_content&task=view&id=340
midtieroil, Goodluck Jonathan
"Considering that ERHE is going to be competing for the same oil and gas properties that these big spenders are competing for is it good news or bad news that all this money is flowing into Nigeria."
ERHE is NOT going to be competing...you need to understand Nigerians!
SEO & Goodluck Jonathan are FRIENDS...
China has signed a $23 billion deal with the new government of Goodluck Jonathan in Nigeria to build three oil refineries and a petrochemical plant. Goodluck Jonathan came to power on May 6 after the death of the former president, Umaru Yar’Adua.
Total committed to investing 20 billion dollars in Nigeria
Total, Qatar, & China...that's $43 billion dollars!
Posted by: farrell90 Member Level
Date: Tuesday, May 25, 2010 1:07:59 AM
In reply to: EZMONEY36 who wrote msg# 215109
Post # of 215497
Prior to the Qatar partnership being announced, Total committed to investing 20 billion dollars in Nigeria. Seven billion was to be invested by Total and thirteen billion" from partners who remain unnamed" . The investment was to occur at Usan, a Niger delta field and "two more areas are being studied ".
http://oilprice.com/Geo-Politics/Africa/Reports-of-$20-billion-Total-investment-brighten-Nigerian-oil-outlook.html
Kingpindg posted today an article describing the same investment as being " deep off shore oil and gas".
http://www.businessdayonline.com/index.php?option=com_content&view=article&id=11299:total-to-invest-7b-on-off-shore-exploration-in-nigeria-&catid=1:latest-news&Itemid=18
Qatar petroleum and Total have signed a MOU to partner in West African oil and gas investments. Qatar is almost certainly one of the partners referred to above.
http://www.ordons.com/201004053859/qpi-and-total-sign-mou-for-oil-investments-in-africa.html
Creative cutting and pasting of the above articles reads as follows:
Total and its partner Qatar Petroleum announce a 20 billion dollar agreement to develop deep off shore oil and gas properties off the coast of Nigeria including two sites being studied.
Could the two sites being studied be JDZ blocks 1 and 2 ? Time will tell. Good luck,Farrell
Thank You Pilot
But what do you really think of it as an investment according to these criteria?
Quality product/business
Quality management
Low OS and Low Float
Quality non-toxic financing
Qualifiable revenue growth
Responsible corporate governance
Shareholder Friendly
Quality Active Partners
MMRF has had huge volatility since the recent CC falling from .36 to .17 since May 15th...
It is really difficult to deal with unless you are a trader.
What do you think of it as an investment at today's PPS?
Best Regards,
Hub
Pilot, thanks for the advise
I'm working to find the best safe haven stocks in a very tricky market. These efforts have led me to look for -
Quality product/business
Quality management
Low OS and Low Float
Quality non-toxic financing
Qualifiable revenue growth
Responsible corporate governance
Shareholder Friendly
Quality Active Partners
It is really hard to get every one of those criteria in one stock.
In this market it is hard to hold without a positive low risk/high reward factor.
If you've held other stocks that have huge volatility, sometimes they exceed their value and go back down. The wild swings are prone to manipulation. It is difficult to deal with unless you are a trader. I'm not a trader primarily. I've done it a bit and even lately lost money on some stupid gambles.
Going into the Summer I will not hold unqualified companies that cannot produce earnings growth as the Summer season can erode your holdings in risky stocks. If a company fails to execute on their business plan, no matter how long I've held it, if they fall on their faces going into the Summer I feel I am forced to sell and only hold quality companies I can justifiably hold with confidence.
No amount of shareholder input can solidify a position you hold if the company is not able to take care of their business responsibilities.
I need to hold companies that don't need anything from shareholders and are going to succeed because they have the right stuff. I need companies that are respectful of shareholders and driven to give them a good return on their money, not just themselves and they do this naturally without shareholders breathing down their necks.
I'm looking for quality. I've been lucky with holding bad companies and I will never rely on luck again. I've never really traded much, mostly held things. Rarely have I grabbed the big money at the top of the run and have held many things a long time, too long it appears.
I believe the only path to success is by investing in things that meet the criteria above. Everything else requires you to stare at your computer and hope the daily stock price of a stock goes up and not down. I can shut off my computer soon and take a month off. That's what I want. That's why I'm here. I'm not a trader. I'm an investor. Some things do work out in the end. Patience is not blind faith, it is an ongoing practice of assessment and winnowing out the static to see the real bottom line.
The D Word or "Dilution"
The only thing a start up company has to raise capital is stock...
MMRF doesn't have a history of company business successes to take to a bank for funding...no assets, receivables or margins.
In order to execute any business plan you need cash.
So they sell shares or offer warrants, options or conversion rights to raise cash, that is the reality!
Dilution can hurt exchange stocks perceived value.
Why would you put your money into a story belief and want them to raise the cash needed to succeed?
The thing wrong about dilution hurting a startup is, dilution effects is the EPS.
MMRF is a startup company and DOESN'T have earnings, so they don't have an EPS...EOM
Tulaz and MMRF Board
Thanks for the Conference Call Summeries. A friend of mine wrote to me the following advise and I'm asking for your honest opinion as I am not a trader but an investor. Does MMRF fulfill these criteria of thoughts in your opinion? The volatility since the Conference call is concerning me. I appreciate your savvy DD & thoughts on investing in MMRF. I already a good position and am considering buying more shares.
Best Regards, HuB
I'm working to find the best safe haven stocks in a very tricky market. These efforts have led me to look for -
Quality product/business
Quality management
Low OS and Low Float
Quality non-toxic financing
Qualifiable revenue growth
Responsible corporate governance
Shareholder Friendly
Quality Active Partners
It is really hard to get every one of those criteria in one stock.
In this market it is hard to hold without a positive low risk/high reward factor.
If you've held other stocks that have huge volatility, sometimes they exceed their value and go back down. The wild swings are prone to manipulation. It is difficult to deal with unless you are a trader. I'm not a trader primarily. I've done it a bit and even lately lost money on some stupid gambles.
Going into the Summer I will not hold unqualified companies that cannot produce earnings growth as the Summer season can erode your holdings in risky stocks. If a company fails to execute on their business plan, no matter how long I've held it, if they fall on their faces going into the Summer I feel I am forced to sell and only hold quality companies I can justifiably hold with confidence.
No amount of shareholder input can solidify a position you hold if the company is not able to take care of their business responsibilities.
I need to hold companies that don't need anything from shareholders and are going to succeed because they have the right stuff. I need companies that are respectful of shareholders and driven to give them a good return on their money, not just themselves and they do this naturally without shareholders breathing down their necks.
I'm looking for quality. I've been lucky with holding bad companies and I will never rely on luck again. I've never really traded much, mostly held things. Rarely have I grabbed the big money at the top of the run and have held many things a long time, too long it appears.
I believe the only path to success is by investing in things that meet the criteria above. Everything else requires you to stare at your computer and hope the daily stock price of a stock goes up and not down. I can shut off my computer soon and take a month off. That's what I want. That's why I'm here. I'm not a trader. I'm an investor. Some things do work out in the end. Patience is not blind faith, it is an ongoing practice of assessment and winnowing out the static to see the real bottom line.
Blue Sky Basin, Q & A
I am perplexed about this reply. Could you please comment on this post.
Thank You, Hub
Posted by: joenatural Member Level
Date: Friday, April 30, 2010 8:05:58 PM
In reply to: Blue Sky Basin who wrote msg# 5971
Post # of 6093 Send a link via email Share on Facebook Tweet this post
Glad you're doing well with MMRF, but I'm going to avoid that stock
like the plague until I see actual 10-Q performance that suggests it's not a money pit. I think it's a bad investment and worth no more than .09, not the current .24 PPS on recent momentum. Always good announcements, but the 10-Q's are what ultimately matters. Hope you continue making good money with it ......
"Joe, have you had a chance to re-evaluate MMRF lately, i've been holding strong since you gave me the tip well over a year now. Things are heating up and the prospects are better than ever."
Here is the Smartalk Story in a nutshell
Pint-Sized Deal Gave AT&T a Barrel's Worth of Challenges
By SETH SCHIESEL
Published: Monday, January 25, 1999
When it comes to big deals, the AT&T Corporation can move fast. It's the small ones that can take time.
Shortly after AT&T announced last June that it would acquire Tele-Communications Inc. for $31.8 billion in one of the most complicated communications takeovers in history, for example, AT&T's chairman proudly pointed out that the pact had come together in less than two weeks.
So why did it take four months for AT&T to put together last week's $192.5 million agreement to acquire most of Smartalk Teleservices Inc., a small, distressed seller of long-distance calling cards?
The answer illuminates the world of mergers, the power of AT&T and the crushing difficulty of being a small communications company richer in concepts than in capital.
Last Tuesday, Smartalk issued one of the telecommunications industry's stranger news releases. Smartalk had agreed to sell its assets to AT&T for an amount that was barely more than one day's revenue for the long-distance giant.
Then came the odd part. ''Separately today,'' the release continued, Smartalk had filed for protection under Chapter 11 of the bankruptcy laws.
But there was nothing separate about the two events -- AT&T's buying a company even as it was filing for bankruptcy. Although AT&T and Smartalk declined to comment on their deal, court documents and executives close to the transaction indicated that it was the merger negotiations with AT&T that prompted Smartalk to file for bankruptcy, thereby allowing AT&T to acquire Smartalk's assets while avoiding its liabilities.
But this is not a case of a giant stomping a flea. Smartalk was on its last financial leg, and it had largely crippled itself.
Founded by Robert H. Lorsch, a former marketing executive, in Los Angeles in 1995, Smartalk was one of the first companies to mine the market for prepaid calling cards. The concept was simple: sell cards enabling people to make long-distance calls from pay phones, for a flat per-minute fee. Smartalk bought the long-distance minutes in bulk from MCI and other carriers and then sold them to consumers for a profit.
The business took off, Smartalk went public the following year, and by 1997 Mr. Lorsch was boasting in an article in Los Angeles Business Journal: ''I put $5,000 in the bank in October 1994 and now have a company with almost a quarter-of-a-billion-dollar market cap. That is a growth story.''
Whether from confidence or hubris, Smartalk went on to acquire nine other companies in little more than a year, giving it a 25 percent share of the prepaid calling card market.
But Mr. Lorsch was no Bernard J. Ebbers, the communications takeover wizard who built deal upon deal and is now chief executive of MCI Worldcom Inc. Smartalk was consumed by its acquisitions, failing to integrate its various financial systems successfully, according to executives close to the company. And since the company did not own its own long-distance network, it had difficulty controlling costs.
Then came perhaps the worst embarrassment a public company can face: the need to restate earnings.
Last August, the company said it would have to restate its financial results for all of 1997, after revealing that PricewaterhouseCoopers, the accounting giant, had uncovered potential problems in the way the company accounted for its acquisitions. That disclosure damaged Smartalk's credibility and essentially destroyed the company's ability to raise money.
So in September Smartalk entered negotiations to be acquired by AT&T.
The more AT&T looked into Smartalk's books, though, the more problems it uncovered, according to executives close to the deal. Some of those executives even questioned whether AT&T would have been willing to begin talks with Smartalk if it had realized what it was getting into.
Then Smartalk discovered that its financial reporting problems were not over. On Jan. 9, the company announced that accounting issues would cause it to restate its earnings for the third quarter to reflect lower revenue and higher expenses than it had previously reported. This additional bit of bad news clinched AT&T's decision that it would not acquire the company unless Smartalk filed for bankruptcy, according to executives close to the deal.
With Smartalk filing for Chapter 11, AT&T could acquire the good things about the company -- its retail distribution arrangements with prestigious clients like American Express and the United States Postal Service -- while letting the bankruptcy court decide what to do with the more than $200 million in debts.
As in most bankruptcies, the creditors will probably suffer. Executives at one of the long-distance companies to which Smartalk is indebted say they are not expecting to get more than about 70 percent of their money. Those holding Smartalk's $150 million in bonds may get less than that.
Smartalk's stockholders are already essentially wiped out. After trading as high as $36.50 last March, the company's stock has consistently traded below $3 this month. On Tuesday, the last day the shares traded, they closed below $2.
Some executives close to the agreement said that as recently as last summer Smartalk might have fetched as much as $750 million.
Of course, it is possible that another company could yet trump AT&T's offer. Now that Smartalk has filed for Chapter 11, a bankruptcy court is expected to hold an open auction for the company.
Any additional bids would start somewhere north of $192.5 million.
The red flags as well as the green flags
Agreed, they are out there for all to see and evaluate.
The main issue davidam is making is that information must be credible to be taken seriously as an investment in MMRF.
Some posters prefer to dismiss red flags for various reasons i.e. it doesn't fit their hopes or agendas. Every positive spin or scenario becomes believable.
I've always liked the potential of MMRF. I do not rule out that the potential could still be there. But after reading the 10Q and davidam's posts about the past litigation...I am uncertain. We just need credible info on which to make our decisions.
It certainly will not be based on irrational excitement from scenarios or soothsayers lacking credible verifications like on the other board. Each of us has to weigh the information in the total against his entire record of company building.
Best Regards, HuB
PriceWaterhouse to Pay $30.5 Million to Settle SmarTalk Teleservices Litigation
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NEW YORK (Map) - NEW YORK, Feb. 14 /PRNewswire/ -- Goldin Associates, LLC announced today that it has settled a lawsuit brought on behalf of SmarTalk Teleservices against the accounting firm PriceWaterhouseCoopers for its role in the failure of the once promising telecommunications company. Goldin, a financial restructuring and turnaround advisory firm, was appointed by the U.S. Bankruptcy Court in 2001 to oversee the liquidation of the failed company.
In the late 1990s, SmarTalk was a rapidly growing publicly-traded company engaged in the prepaid long-distance telephone calling-card business. The company pursued a strategy of "rolling up" other prepaid calling-card companies and ultimately became the market leader.
In August of 1998, SmarTalk announced that it would have to delay release of its second quarter earnings and restate its financial results for the prior year. In the aftermath of the announcement, the market value of SmarTalk stock plunged and the company lost access to the capital markets and the financial resources necessary to fund its business. The company ran out of money and filed for bankruptcy in Delaware early the following year. SmartTalk's assets were ultimately sold in bankruptcy to AT&T, which merged the business into its own prepaid calling-card business.
PriceWaterhouseCoopers was auditor to SmarTalk and also provided accounting advice in connection with SmarTalk's acquisitions and the preparation of its financial statements. Creditors of SmarTalk sued the accounting firm on behalf of the company for malpractice relating to its accounting advice, its audit services and the handling of the financial restatement, among other matters. The lawsuit has been pursued since 2001 by Goldin as trustee for the Worldwide Direct Liquidation Trust, the successor to SmarTalk. The lawsuit is pending in the United States District Court for the Northern District of Texas, Dallas Division.
The settlement resolves the last of the various lawsuits brought in the aftermath of SmarTalk's failure. Under the terms of the settlement, PriceWaterhouseCoopers will pay the trustee $30.5 million. The funds will be distributed to former creditors of SmarTalk holding allowed claims approved by the Bankruptcy Court. The accounting firm will also release more than $1 million of claims it filed against the company. The settlement is subject to the approval of the Bankruptcy Court overseeing SmarTalk's liquidation.
The settlement will enable Goldin, as trustee, to wind up the affairs of the Trust and make final distributions to SmarTalk's former creditors. Creditors of SmarTalk have thus far received payment of 44.5% on $232.4 million of allowed general unsecured claims.
Goldin was represented in the SmarTalk litigation by the law firms Jones Day and Munsch Hardt Kopf and Harr.
velvetpolecat, what a lame response?
Davidam has brought up some disturbing info...maybe the fundamentals are appealing but what about the 4 posts of Davidam? Perhaps we now understand this post...what about these disurbing litigation posts?
even though sheff likes the fundamentals , and ken likes the chart , i cannot get professor Chartinator to even comment on it...
MMRF Recent Momentum
Always good announcements, but the 10-Q is what ultimately matters.
Rainmaker, Bob Lorsch, CEO, MMRF
"I'm a buyer not a seller here. Like the way things are progressing."
Thanks for your transparency & I appreciate somebody on IHUB that is speaking the truth...
I'm heavily invested in both MMRF & CHMD.
Thanks again for being real and All the Best...
Rainmaker,
Do you still own MMRF or did you sell?
May I ask what is your #1 choice for the next 3-4 weeks?
Thanks for all your astute DD & hard work...deeply appreciated.
HuB
We now learned after taking two cracks at it, once last year and again this week.....there's some serious resistance to get past around .32....Maybe it is those private placement investors in around .32, who knows. Whatever it is, it's going to take a really big PR to push us through that level.
Hey Rainmaker,"Setting new 52 week highs almost ever day now"
I am sure there are many savvy people taking a macro view of the price and holding their positions.
The strength of the share price "Setting new 52 week highs almost ever day now....huge money flow coming from someplace other than Ihub....Trading like it wants to keep moving higher is formidable."
The overall trends and support are fascinating and bode well for the possibilities going forward
We are still in our infant stages here with MMRF in my opinion with tremendous potential still waiting to be captured.
All the Best,
HuB
Thank you Threeflight, davidam, Rainmaker
Astute thinking & comments. Thanks for the clarity of the moderators.
Just for the record shallwemaui's further thoughts on the subject...should make May 2010 an extraordinary month...all the best of success to MMR shareholders.
The original MMR private placement was at $1 per share, then $1.20 per share. It then split to $3.28 shares per share, meaning a new cost basis of 32.8 cents per share.
Who can answer this post for us?
Posted by: shallwemaui
Date: Thursday, April 29, 2010 12:52:41 PM
In reply to: EZ2 who wrote msg# 16906 Post # of 17433
Hi Guys, question for everyone. I'm not a penny trader, so i just found your board here. what do you think happens when mmrf gets to the 30-32 range? i am one of the original private placement stock holders, so there are literally millions of shares like mine that were bought in that 33 cents range. most of those types of investors are accredited, meaning worth 1.5mm or incomes over 250k, but there is a huge volume of shares that finally will be at least break even once the stock goes over 30. Personlly, i have 350,000 shares and will wait for the big hit, but there could potentially be a big sell off by others? thoughts?
GAPS! I love trading gaps
Posted by:lowtrade
GAPS! I love trading gaps!
Had a PM question;
Why do gaps need to be filled?
Gaps don't need to fill, they normally do!
You have to think about what causes the gaps in price!
Emotion ! That's why you often see the term emotion gap, in books. When some news event or big guy manipulation happens, the price swings to extreme, leaving gaps in the candle pattern from the previous day close, to the next mornings open.
There are 4 types of gaps,
Common Gaps
Breakaway Gaps
Runaway Gaps
Exhaustion Gaps
Keep one thing in mind! I want to stress
, my opinion on what a gap pattern looks like.
A gap is seen when the day before's close price, is lower then the next mornings open price! or vice versa (the candle body only) If you look at your trade screen, & list the previous days close & new days open, you'll note PREV&OPEN PPs, they are the numbers!
Many look at the candle chart and see the candle spikes lines touching the day before's EOD PPS or the day before's candle, has a top tail, reaching the next mornings open PPs.
Because the tales seem to cover the gap, many say there is not a gap! WRONG!!! The spike tail, could have happened any time during the day. And the candle body is the actual final or first Price in each days trading. Only use candle body.
Daily SPIKE TAILS don't count!
-------------------------
I say 90% of all gaps fill, others may say 80% or 75% or 98%. I have no way to prove this, and double anyone can! Just let it be a concessions, that gaps fill most all the time! So they are reasonably low risk trades.
Now back to the 4 types;
Common are always closed.
They occur with a one day pop, usually, and the lack of a second day continuation, shows why they fill! There is NO real emotion.
Breakaway are usually closed, You see them in a multiday emotion run, where the stock price is fluxing around the same level over several months. They normally occur during chart pattern moves. (like triangles, double bottoms & the like) And the following retail mindset returns to logic, and fills the gap with the retrace.
Runaway are often the "few" that don't fill. Or if they do, it takes so long for them to fill, you don't look back that far to see the gap fill at all! LOL The difference with these and Breakaway gaps are, these are seen in climbing
stock patterns, not fluxing. Retail is continuously positive or negative in a climb or walkdown. And a one day emotion spike doesn't warrant a price correction, because the mindset would get the PPs there anyway! Basically every thing just continues!
Exhaustion Gaps are rarely seen. They happen at the end of a move. And show the retail mindset has reached a enough is enough point.
Worriers have been expecting a turn too long, they have a concerned trigger finger, creating a rush out the door on the first sign of any weakness, and sell momo takes over. The next day others, which weren't worried, see this and can't decide to agree or not. The PPs swings large. Then everyone just gives up.
So, to recap;
MOST all gaps fill. They are caused by retail emotion and when emotion leaves, the long share holders, bring the stock price
back to a reasonable, average new price level.
If you see a gap; expect the price to come back & correct the emotion!
Blue Sky Basin,MMRF BLOG
allallan.blogspot.com/2010/05/mmr...
From Another MMRF Blog
I like this one, I like the concept, the business plan, the management and above all, the trend models. Tuesday, May 04, 2010
MMR Information Systems, Inc. provides a suite of online personal health records (PHRs) and electronic safe deposit box storage solutions for consumers, healthcare professionals, employers, insurance companies, unions and professional organizations, and affinity groups in the United States. Its solutions enable individuals and families to access their medical records and other documents, such as birth certificates, passports, insurance policies, and wills using the Internet.
The company principally offers MyMedicalRecords PHR system, which transmits and stores documents, images, and voicemail messages in the system using various methods, such as fax, voice, and file upload. It also offers MyESafeDepositBox that provides online storage for financial, legal, and insurance documents, as well as medical records; and MyMedicalRecords Pro, an integrated solution, which enable physician practices to scan, digitize, store, manage, retrieve, and share records with patients through the company managed ‘software as service’ Web application.
The company has a strategic alliance with Chartis to provide electronic personal health records to clients worldwide. MMR Information Systems was founded in 2005 and is headquartered in Los Angeles, California.
Rather then try to reinvent the wheel with a fundamental analysis of MMRF, here is a link to a comprehensive compilation of facts and figures: MMRF estimated revenues.
Management is a big feature with MMRF, it's CEO is Robert Lorsch, a mover and shaker who has a long and successful career in bringing innovative concepts to fruition and putting his shareholders on the road to prosperity.
Bob Lorsch, CEO, MMRF is a Los Angeles entrepreneur and philanthropist. He is Chairman and CEO of The RHL Group, Inc. http://www.rhlgroup.com, a business management and investment-holding corporation with interests in a number of companies. For over 20 years, Mr. Lorsch headed the Lorsch Creative Network, which blended marketing, advertising and interactive sales promotions using enhanced voice services for "blue chip" clients that included the ABC, CBS and NBC television networks, Campbell Soup Company, Procter & Gamble, Taco Bell, McDonalds and others. In 1994, he founded a pre-paid calling card company, SmarTalk TeleServices, Inc. SmarTalk went public in 1996 with a valuation of $57MM, and had a market cap of nearly $1 billion when Mr. Lorsch resigned as CEO in January 1998.
Turning $57M into $1B in two years is a pretty impressive achievement. With MMRF's market cap currently at $46M, a similar run to $1B would take the current share price of $0.23 to over $4.00. That doesn't mean it will happen, only that it happened with his former company and could happen to this one.
The more I read about MMRF, the more it appears that they are in the right place at the right time with electronic medical records. Is it worth $10/month for me to have been able to provide my own records to my new doctor, rather then participate in the song and dance routine of a brazenly incompetent administrative staff at my old doctor?
More fundamentals:
MMRF has working partnerships and or agreements with Kodak, Unis China, Google Health, sanofi-aventis, Nihilent Technologies
MMRF Signs Global contract with Chartis who has 40m clients in 160 countries worldwide;
MMRF predicted MMRPro implementation in China with Unis-Tonghe by 3rd quarter this year;
And this, an MMRF biotechnology kicker:
MMR Information Systems and sanofi-aventis Enter Into Agreement Regarding Anti-CD20 Monoclonal Antibodies
Impressive Board of Advisors:
Arthur M. Kassel-Chief of Law Enforcement Services,California State Department of Mental Health
Buzz Aldrin, Ph.D.- NASA Astronaut
Bradley S. O'Leary- Political Strategist, Author and President, Associated Television News
Richard A. Gephardt- Former House Minority Leader Senior Executive, Goldman Sachs
Dr. James L. Spigarelli- CEO and President, Midwest Research Institute
The Honorable Daniel Goldin- Former NASA Administrator
JJ Virgin- Health Correspondent and Nutritionist
C. Rowland Hanson- Executive with Microsoft, Neutrogena, Nautilus and othe corporations
"Sugar" Ray Leonard
Asa Hutchinson - Former Congressman and Under Secretary, Homeland Security
So there it is, Wave 3 of 3 down market notwithstanding, another speculative paradigm changing technology company. If that $0.23 share price is destined for $4 or higher, the trend models will catch most, if not all of the move.
The fundamental story is there, including a management track record of having done it once already.
Oh, one more thing. The CEO, Robert Lorsch, had a neat little blog that discusses anything and everything, here is a snippet from the current post:
Many years ago I ran across the book Illusions by Richard Bach. It’s takes the reader through a journey that teaches the power to manifest results. If you haven’t done so do yourself a favor and read it. The book is filled with teachings that can change your life. It did mine.
One of those teachings is the theme of this blog. “You are never given a wish without also being given the power to make it true. You may have to work for it, however”.
.....And working for it we will do. In the May issue of PharmaVoice there is an article on the meaning of EMR’s to Pharma and Clinical Research Organizations. The story talks about how an EMR can reduce drug trial costs and decrease time to market. What’s really happening is that the voice of the patient now becomes part of the equation. The patient will use a PHR module to record patient feedback to a data set. MMR already offers easy to use patient tools that can talk to virtually any EMR system that might be employed in such trials. That’s why MMR emerges in the article as a cost effective solution to this opportunity. The article signals the opening of another door to the use of our products and services.
I like this one, I like the concept, the business plan, the management and above all, the trend models.
Mike2005,
What MMRF revenue projections are we expecting during 2010? TIA...
legolas,"Rome wasn't build in a day"
Tulaz1, I really like your DD and your vision about MMR's future
but concerning your revenue projections...
"Rome wasn't build in a day"
So if ROME WASN'T BUILT IN A DAY...what are we looking for as a good risk/reward stock in terms of a long-term investment...what is the revenue projections for 2010? Thanks in advance & GLTA...
HuB
MMR Information Systems, Inc. Acts to Protect Its Biotech Assets
LOS ANGELES, CA -- (Marketwire)
05/03/10
MMR Information Systems, Inc. (OTCBB: MMRF) (MMR) disclosed today that it has filed an action which seeks to protect a portion of the Company's intellectual property and related technology, including clinical data and biotech samples which it had recently discovered.
The assets represent a portion of the Company's biotech portfolio that came from its reverse merger with Favrille, Inc., a biopharmaceutical company, in January 2009. Over the past 12 months, the Company identified a portfolio of biotech assets which include materials that were unknown to post-merger MMR until February 2010. These assets were in the possession of the Lymphoma Research Foundation (LRF). They do not include other pre-merger biotech assets such as the Company's anti-CD20 monoclonal antibodies, results of clinical trials data, patents and other IP.
In February 2010, Robert H. Lorsch, MMR Chairman and CEO, received an inquiry from a laboratory at Stanford University asking the Company to donate portions of its pre-merger clinical vaccine trials data in the interest of science. After due diligence into this request, it was discovered that in the summer of 2008 a collection of tumor samples and other data from the Company's clinical trials had been transferred to the Lymphoma Research Foundation. It was further discovered the tumor samples were being stored at the University of Arizona.
It was ultimately determined by the Company that the data and samples could lead to for-profit ventures. Based on numerous conversations with LRF and representations that the samples and data had not been compromised, MMR proposed a collaborative relationship with LRF giving it the ability to make grant requests with the samples provided MMR benefited with the usual and customary licensing agreements and milestone payments as the terms are used in the biotech industry and that the samples would not be destroyed. MMR's proposal also included setting up an endowment to benefit LRF from proceeds from the use of the samples and data.
"As a cancer survivor and a philanthropist who has raised or contributed nearly ten million dollars to science education I was excited by the prospect of making a difference with this contribution," said Lorsch. "However, prior to entering into any agreement for a donation of the samples and data, the Company conducted due diligence to ensure MMR would not give up any assets that may have value to shareholders. As a result of that investigation, it was determined that there was no guarantee that the samples and data would be used exclusively and only in the interest of science and therefore MMR shareholders should benefit from these assets in the event and to the extent they generate revenue."
"Hundreds of millions of dollars were spent on the creation of these assets by shareholders and investors of pre-merger Favrille and MMR, and since it appears that recipients of the samples could potentially benefit financially, why should MMR shareholders be any different? Make no mistake; my purpose is to see that these assets are used to benefit science, however, in the process they should also benefit the Company's shareholders," added Lorsch.
Based upon numerous representations from LRF that no grants had been made, MMR entered into a written agreement with LRF regarding the assets on April 12, 2010. The agreement specifically stated that LRF would not directly transfer, release, sell or assign, grant or alter the samples which MMR contends is its property. The agreement goes on to say that MMR and LRF will work in good faith to resolve this matter. It was also specifically agreed that the parties would use mediation in the event an acceptable agreement could not be reached.
MMR believes the materials have potential significant financial value to the Company while LRF has advised MMR that LRF is not interested in financial participation from the samples.
Ten days after signing and prior to each party's management discussing this matter, LRF decided that it would no longer participate in resolving this dispute pursuant to the terms of the agreement. MMR had no alternative but to bring a Petition to force LRF to enforce the agreement and mediate with MMR.
Shortly after MMR served its Petition, LRF notified MMR's attorneys that it had filed a declaratory relief action also in the interests of resolving this matter. MMR understands that LRF is looking at this process as a way of seeking a resolution of this dispute. In the filing, LRF contends that pre-merger Favrille granted a royalty-free license to LRF for the use of the samples, however, MMR claims any such agreement is not enforceable. MMR believes the transfer to LRF was never properly entered into, consented to, or approved, amongst numerous other reasons. MMR also believes that LRF induced MMR into transferring the samples to LRF by suggesting the samples had no value.
"I believe both sides are working to get this matter resolved quickly," Lorsch said. "The samples and data were created by virtue of the Company's shareholders and therefore they should be entitled to a portion of any monetary gain that may be realized."
The Company plans on expanding its Boards of Advisors to include biotech financing and licensing expertise to help maximize the value of these assets. MMR understands that the samples and data may be of value in a possible successful reinterpretation of the pre-merger Favrille vaccine trials and that the IP may also unlock ways to create other "custom-made" cancer vaccines and be valuable in discovering additional opportunities in cancer research. The Company hopes to enter into additional licensing agreements with biopharmaceutical companies, academic institutions, research organizations and others regarding the use of its assets.
Although MMR will continue to maximize the value of its biotech assets to its shareholders, the Company remains focused on its primary business, which is specifically the development and distribution of the MyMedicalRecords Personal Health Record (www.MyMedicalRecords.com) MMRPro, an end-to-end document management solution for physicians which features an integrated patient portal (www.MyMedicalRecordsMD.com), and other related solutions in Health IT based on the Company's patented technologies. The Company also cautions shareholders that it is not a biotech company and there are significant risks, uncertainties and lead times associated with these biotech assets and related IP.
Sinopec 2010 Q1 net jumps on steady margins
Wednesday, 28 April 2010 09:47
Blaze Fabry refinery April 28, 2010 (Chinavestor) China Petroleum & Chemical Corp. (NYSE:SNP), know as Sinopec, reported 2010 first quarter results a day after Petrochina Co. (NYSE:PTR). Sinopec is the largest refinery in Asia by volume while Petrochina Co. Ltd. (NYSE:PTR) is the largest Chinese oil producer.
Sinopec reported a significant improvement in top and bottom lines in the first quarter of 2010 compared to same period last year. Total revenues jumped to RMB438.209 million ($64.4 billion), up 92.62% from 2009 Q1. First quarter net income amounted to RMB15.768 million ($2.318 billion), an improvement of 40.14% from 2009 Q1.
SNP_2010Q1_revearnings
Part of the significant improvement is due to a relatively low basis. First quarter of 2009 was the time when price of the crude went as low as $34/barrel compared to $80/barrel in the spring of 2010. So this explains the significant jump in revenues.
The fact that net income improved significantly is very important. Sinopec (NYSE:SNP) has been adversely effected by oil price: the higher the price of the crude the less margin for oil refiners like Sinopec (NYSE:SP). High oil price favored Petrochina (NYSE:PTR) and CNOOC Ltd. (NYSE:CEO) in the past. The fact that Sinopec improved operational results despite rising crude prices is remarkable!
Let's take a look at operational results. The company produced the same amount of oil as last year, ~10.380 million tonnes while natural gas production jumped +40.97%. These dynamics are similar to that of Petrochina (NYSE:PTR), a company that reported oil production increase of 2.1% and natural gas increase of 16.5%. Petrochina net profit, oil production up in 2010 Q1.
But the real change took place within the refining and chemicals unit. Sinopec (NYSE:SNP) processed 49.504 million tonnes of crude, up +20.42%. With a new formula, aimed at providing fair profit for refineries, introduced at the end of 2008 Sinopec (NYSE:SNP) was able to stay in the black despite a sharp rise in the price of the crude.
The chemical unit got its fire back as well. " In the first quarter, the production of ethylene and synthetic resin hit 2.028 million tonnes and 2.9167 million tones respectively, a year-on-year growth of 36.29% and 20.72% respectively" said Sinopec (NYSE:SNP) in the quarterly statement.
Summary of Principal Operational Results for the 2010 First Quarter
SNP_2010Q_Opresults
Source: Sinopec (NYSE:SNP) 2010 First Quarter Report
Looking forward, it is going to be difficult to deliver another blockbuster quarter like this simply because the basis for the next quarter is significantly higher. Nevertheless it is important to keep in mind that Sinopec (NYSE:SNP) delivered a strong quarter despite high oil prices, a sign that the company will do well in the next quarter as well.
Correction KERX
keryx-biopharmaceuticals-could-easily-triple-within-the-next-year
To the board,
CENX, Any comments on this play?
http://seekingalpha.com/article/198045-keryx-biopharmaceuticals-could-easily-triple-within-the-next-year
Allawi’s Victory in Iraq Election Sets Up Period of Uncertainty
By TIMOTHY WILLIAMS and ROD NORDLAND
BAGHDAD — The secular party of Ayad Allawi, a former interim prime minister once derided as an American puppet, won a wafer-thin victory in Iraq’s election, setting the stage for a protracted period of political uncertainty and possible violence that could threaten plans to withdraw American troops.
The outcome, announced Friday, was immediately challenged by Prime Minister Nuri Kamal al-Maliki and his supporters in the State of Law coalition, who hurled accusations of fraud and made vague references to the prime minister’s power as commander in chief.
Several parties have cried fraud as their fortunes waxed or waned in the slow vote count, an ominous reminder of an Iraqi political culture where winning is everything and compromise elusive. Western observers and an independent election commission said they saw no signs of widespread fraud. Mr. Allawi galvanized the votes of millions of Sunnis — who boycotted the last parliamentary elections in 2005 — to build his edge of 91 to 89 seats over his nearest rival, Mr. Maliki. That falls far short of the majority of 163 of the 325 seats in Parliament that he needs to form a government.
Iraqi political experts interviewed Friday doubted that Mr. Allawi would succeed in assembling a governing coalition. But even if he did, they said it would take at least until July, possibly even longer, a potentially destabilizing stretch in which a disgruntled Mr. Maliki would serve as caretaker prime minister of the nation.
In a statement that seemed to reflect American concerns about the potential for violence, United States Ambassador Christopher R. Hill and Gen. Ray Odierno, the top American military commander in Iraq, praised “the overall integrity of the election” and called on political parties to “refrain from inflammatory rhetoric or action.” There had been hope that the election would spell an end to Iraq’s sectarian politics. And though the balloting shattered the sectarian political template that brought Mr. Maliki to power in 2005, when an alliance of Shiite parties dominated the election, the outcome re-emphasized the country’s sectarian and regional divides and the deepening schism between Arabs and Kurds.
The vote in part reflected dissatisfaction with Mr. Maliki’s ability to provide security, government services, and jobs. Mr. Allawi appealed to Iraqis tired of the past domination of Iraqi politics by religious parties; others responded to his image as the sort of strongman leader they have lacked since Saddam Hussein was ousted.
Reactions in Iraq ranged from jubilation to fear. Some people partied in the streets, honking horns and firing weapons in the air; others stockpiled food in case of violence and renewed curfews.
“Nobody felt happy in Diyala,” said Qais Jihad, 30, referring to the pair of bombs outside a cafe, killing 43 people who had gathered to await the results. “It is a win with a bloody flavor. Now we want to finish with election troubles and form a government so we can stop Iraqis’ bleeding.”
A jubilant Mr. Allawi said he would work with any group that was willing to join him in forming a government. “We will not exclude anyone,” he said. “Our coalition is open to all.”
But to accomplish that goal, Mr. Allawi will have to overcome deep-seated enmity not only from Mr. Maliki but the other two biggest vote-getting blocs: the Kurds, with 43 seats; and the Iraqi National Alliance, a Shiite party that gained 70 seats and is led in part by the anti-American cleric, Moktada al-Sadr, who emerged as a possible kingmaker.
Mr. Allawi’s buoyant mood contrasted sharply with the atmosphere in the prime minister’s camp on Friday evening, where Mr. Maliki angrily vowed to challenge the vote as fraudulent. “No way we will accept the results,” Mr. Maliki said. “These are preliminary results.”
Last week, Mr. Maliki released a statement saying the election commission needed to respond to demands for a recount in order to prevent a “return to violence.” The statement pointedly noted that Mr. Maliki remained the country’s commander in chief of the armed forces. On Friday, however, he stressed that his opposition would be “through legal channels to transfer the authority in a peaceful and transparent manner.”
The Independent High Electoral Commission, which oversees elections, said that the vote had been free of widespread fraud and that it would not conduct a recount. Commission members said the panel had investigated hundreds of allegations of fraud, but had found none that would significantly change Friday’s results.
Ad Melkert, the top United Nations representative in Iraq, called the vote “credible,” and added, “We have not found evidence of systematic failure or fraud of widespread nature.”
Mr. Maliki’s State of Law coalition and other political groups now have three days in which to lodge new complaints, which will be investigated by the election commission. The results will then be sent to Iraq’s Supreme Court.
Because of his two-seat advantage in the new Parliament, Mr. Allawi will most likely get 30 days in which to form a broader coalition to reach the required 163-seat majority. He has already been in talks with members of the Kurdish Alliance.
Friday’s results showed that a fractured Iraqi electorate had split the 18 provinces among four different political groups.
Mr. Maliki won Baghdad, the most populous province, and six predominately Shiite provinces south of the capital, while Mr. Allawi won or ran virtually even in five provinces in the north and west of the country with large Sunni populations.
The Iraq National Alliance won a single province and the Kurdish Alliance won three Kurdish provinces in the north.
Among the areas in which Mr. Allawi ran surprisingly strongly was Kirkuk, a province in northern Iraq, which sits atop billions of barrels of oil. It is contested by Kurds, who want to integrate it into the semiautonomous Kurdistan region, and Arabs, who want to keep it part of Iraq.
Mr. Allawi’s coalition and the Kurdish Alliance each picked up six seats in the province. The balloting in Kirkuk — and accusations of fraud there and in Nineveh and Diyala Provinces, also in Iraq’s restive north — could lead to an escalation of violence in those places, Iraqi and American officials said.
Some observers believe that Mr. Allawi, who is a secular Shiite, will have great difficulty cobbling together the necessary support and that Mr. Maliki may be able to return as prime minister.
“His problem is that while he is a pragmatist who could make a deal with the Kurds and some Shiite factions, one of his main constituencies are Sunni Arab nationalists who would not countenance an alliance with the Kurds, unless the Kurds made impossible concessions on Kirkuk and other disputed areas,” said Joost Hiltermann of the International Crisis Group. One result, he said, could be that the main Shiite parties could regroup and form a government similar to this one.
If Mr. Allawi failed to form a government, that task would fall to Mr. Maliki, who would be likely to seek an accommodation with the Iraqi National Alliance of Mr. Sadr.
Gramps
"The most likely buyers of cheap shares would be short sellers, IMO."
The most likely buyers of cheap shares would be long buyers averaging down IMO...as many of us are.
IC wrote in his blog comments
I'm still 50/50 that egmi isn't a fraud. There is more information leading that it is not a fraud as I've confirmed relationships with Bally's and Sci Games.
But as we all know it doesn't have to be a fraud to completely destroy shareholder value. What did this company in was an internal management conflict between the current bosses and the old bosses (that hired the current bosses). The old bosses brought all the business to the company, and new ones did nothing but spend money. This lead to resentment on both sides and likely both sides trying to manipulate the system to kick out their counterparts.
'pontiacnut1999' Some good thoughts
THANK YOU FOR YOUR SPECULATIONS, DILIGENCE AND WILLINGNESS TO SHARE WITH THE BOARD.
I agree with some of these points...
g) After months of being stonewalled and then halt, KD brings in Anderson PRIMARILY for legal backing to help him right the ship and not have to take the fall for Cole & co, shenanigans. Cole & co meanwhile now hustling to put cash back together for auditors to find:
h) Don't know if original cash is still there, but believe some will be "found" cuz if Cole goes down, all of the various "good ol' boys" will be sucked into the wormhole with him;
i) Anderson would not come in if they didn't believe they couldn't clean up this mess, get co. back on course and restart making $$$ for all (including shareholders)...
So what now happens?
1. New BOD of CPAs, JD, qualified marketers (including KD?)
2. Well known, respected PR/IR folks who will spin just enough to attract new money/backers/investors
3. Kickstart some/all various deals in works so co. regains a good
rep.
***NEWS COMING VERY VERY SOON IMO!***
mistakes I made on EGMI
Reposted/Blog from sg
So as many of you know I bought $EGMI sometime earlier in the year when I saw it dip down below $1.30. I bought it between $1.08 and $1.29, and sold 10% at $1.45. I then watched in horror as the stock dipped to $1.14, I added some, then to $.90, I waited, and to the .80's where I said "okay I'm adding here... " ---
I made so many mistakes in that trade, I don't even know where to begin. My biggest mistake was buying the stock when I knew management was shady from day one. I always said I never trusted the management team, they were incompetent, the pending Poken deal sounded like a joke, etc. The one thing that kept me coming back was the numbers/value, and the hope that management would get their assess kicked and a new team would be formed.
I can't blame @iancassel for me buying the stock. Anyone who blames him is looking for a cop-out for their own loss, rather than owning up to the fact that what we do is risky. We are trading, investing, and collaborating. We need to recognize there's risk in every trade, especially the ones with a shitty management team. Ian was very open and honest with me the entire time, I knew his open market position in the company, and even knew when he took some off the table. He wasn't pulling punches on the management team either. He even supported the stock when it needed support.
First: The tale of the tape and listen to Kunal
Who knew what was about to happen? Well, for one the tape knew. Had I paid more attention to the stupid tape I would have seen the sudden volume bombs near the end. The stock was dropping fast because people were dumping their shares. Obviously someone heard something, and as I understand it one of the ladies on the inside, Anna Houssels, started dumping her shares as low as sub $1. While this lady was dumping I wasn't paying attention. Kunal (kunal00 on twitter) told me to stay away from it, he hated the company in general, but he also didn't trust the "pumper" side of the stock.
Second: Google the insiders
If I knew I was taking a larger position in the company I should have really researched the insiders. Go to Yahoo Finance, look at the insiders, and start to do some Google searches and you'll understand. One of the insiders, Lee Cole, was supposed to be the guy who could save the company. He was the previous CEO and he apparently single handedly created all the business for the company pre the new CEO Kevin Donovan. The problem is Lee Cole has been involved in a number of failed companies, all of them ended up in sub-penny land. Whether it's his fault or not, doesn't matter, his track record isn't exactly solid.
Third: Trust your gut, and always mitigate your risk on a spec stock (don't be a hog!)
The next thing I did wrong, my gut was telling me NOT to add when the stock went under .90. ..but like an idiot I saw people on Twitter buying shares down there, so I decided to double down. I went from a comfortable 50k position to 125k in a matter of two days. My biggest mistake was increasing this position. A position that I had little belief the management knew what they were doing, a position that was a falling knife. I just was completely enamored by the numbers. Now the position was still less than 4% of my daily trading account, but it's still a great deal of money. I know making it back wouldn't be hard.. but no one needs a loss of $125,000 (assuming the stock went to 0).
Fourth: If the numbers are too good to be true, they probably are.
The numbers are actually amazing on this company, assuming they were not fake. When the company got halted by the SEC I could not believe it. I immediately contacted the CEO Kevin Donovan who assured me the company was working on it. Email after email, I received very little back. Come D day when the stock re-launched with NO NEWS I watched as the stock dropped down to .10. I tweeted out that buying EGMI under .15 might be a good gamble (and it was). The stock shot up, and I basically liquidated my entire position at .35 --- but 2 minutes later the stupid company FINALLY launched news saying they are certain the assets won't change. What?! You mean to say you IDIOTS waited for the stock to open, so innocent traders would dump their positions down to .10 and then you'd announce you had the money?
Well that was the final straw for me. The stock went up a little, but now it's back where I sold it. ..and good riddance. As I understand it the only reason the press release was late was because they could NOT find Kevin Donovan to sign the PR. Look at it and you won't see his signature. Want to know where he was? Rumor has it that he was drunk in bed. That's right. The I heard from a reliable source that the CEO of this company let the shareholders lose their shirts while he was drunk in bed. The SEC should have a field day with these guys, and I hope they do.
and the Bitter Conclusion...
Now that's a bunch of shitty circumstances. I took a big loss, roughly 80k --- but considering I thought I lost 125k I say I did pretty good. It hurts to think that I could have bought a 911 Turbo and driven it into a tree, I would have had a much better time than babysitting this bag of paper. A big loss indeed, but again I did do a pretty good job of making it back quickly -- but it did take many large trades, and I also had to lose some of my swing trades to make it happen. It actually took me awhile to understand what I did wrong -- because it's hard to find fault in good numbers, crooks are crooks (assuming they are indeed crooks) - they could just be that stupid.
I don't know.. and while I never like to see anyone lose money, I wish all longs well, I would say there are better ways to repair your trade then to sit in this pool and hope they'll come around --- especially with all of these lawsuits. Either way, never again. I will not invest big positions in speculative stocks unless it meets the criteria above. Tape, Google, Gut, Numbers. TGGN.
Last thing I'd like to say. I feel bad about anyone who followed me blindly into this trade. Although I was clear on the risk, and always made it pretty obvious that I didn't trust the management -- I never wish ill on anyone (not even my haters! - I secretly wish well for them every day).
I am developing a number of strategies that will help make it back. As I said above I already made mine back, even before the stock re-opened. I just hope you learn from my mistakes above!
wmthecommoner, mistakes i made on EGMI
So, re we Shareholders or Stuckholders?
Thanks for your astute posting which I respect.
What's your take on this blog?
18-Mar-10 10:19 pm
Hi guys, still wishing you all well in this crap disaster ... but here's my blog on the mistakes I made.
http://www.bullsonwallstreet.com/blog/p
China oil demand is 'astonishing'
China's demand for oil jumped by an "astonishing" 28% in January compared with the same month a year earlier, the International Energy Agency (IEA) says.
The body added that demand for oil in 2010 would be underpinned by rising demand from emerging markets, with half of all growth coming from Asia.
But the IEA predicted demand in developed countries would fall by 0.3%.
The IEA has increased its global oil demand forecast for 2010 by 1.8% to 86.6 million barrels a day.
Oil prices were above $83 a barrel earlier today, the highest in two months, but dropped back to closer to $80 in late afternoon trading.
The IEA said the high price level was due to "heightening of geopolitical tensions affecting some producing countries", but that this had been balanced by "ample physical oil supplies".
Crude oil production by countries in the oil producers' cartel Opec rose to a 14-month high of 29.2 million barrels a day in February.
During February, Iraq pumped an extra 115,000 barrels a day.
Opec is due to meet on 17 March and the IEA expects it will maintain its current production targets.
Story from BBC NEWS:
http://news.bbc.co.uk/go/pr/fr/-/2/hi/business/8563985.stm
Published: 2010/03/12 17:27:47 GMT