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There would be restrictions on their ability to make private placements and it would inhibit their ability to raise cash via shares even if they went to Nevada. One of the big pieces of this is that with this dilemna the company has been forced to have financials prepared under 2 different sets of reporting requirements. This is keeping the cash burn rate high and reducing the amount of time they can survive without an infusion of cash. Wu may be able to arrange something personally but I wonder how far he is prepared to go. Of course the other possibility is that HTT and Wu decide to take the company private and leave all the retail shareholders out of the mix. We might generate a 2 or 3 cent offer, that being a 100 or 200 percent premium on the average closing price for the previous 30 days but many shareholders would endure huge losses.(perhaps not you Guardian:) ) That, of course, is just speculation that I hope never comes true and I would hope that management, if secretive, are at least honorable.
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The point I was making is that it is just as likely someone in Jersey as someone in Alberta and in fact more likely because no one in Alberta can buy shares so it could only be accomplished with the help of someone in a jurisdiction where the cto doesn't apply. As of today the cto is still in place with the same two comments as 19 months ago. I don't think that the company knows how to get out of the fix they are in because the necessary data fromm HTT for the years prior to 2006 does not exist. Catch 22 I think.
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The trading that is currently going on has no real relevance. The value is so small that it really doesn't matter. It is just some bored trader playing with the trains. Sorry to hear that responses to emails have dried up. You could try phoning. If the office is still open then hopefully Mr. Nielsen will answer.
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Christian Nielsen is the gentleman who was working in Calgary when I called back about May near the 1 yr anniversary of the cto but I think someone else on this board has indicated a much more recent contact. I think he is IR, website manager, office manager, switchboard operator and secretary. In fact he is the Calgary office. When I talked to him back then, Mr. Nielsen was pleasant but only offered minimal info. That is probably all he has because I suspect that any decision making that is happening for this company (if there is any) occurs in the offices of HTT in Taiwan and I suspect the paperwork is in Chinese. Nothing wrong with that on its' own but we should at least be getting some translations. Try the phone it might get results.
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The profit numbers are a little misleading. Much of that was done on the back of a reducing inventory. There is no doubt in my mind that the company cannot survive if the cto issue isn't dealt with. There is so little interest in the stock that we think that $1000 in stock trades is a big day. Today we see $150 in trades, yesterday less than $200 and before that many days with zero. We have a total of maybe 5 or 6 contributors to this forum and the reason has been well stated, there isn't anything to talk about. The company doesn't even feel it can afford the cost of announcing its' financials. The zigbee or whatever it is called is just another in a long line of "maybe" good news items like solar powered cell phones and a myriad of other things. The web page has only been modified once since its' inception. Financials are cut and paste rehashes of old news and they simply change the date. Did you notice that the phrase about "exponential growth" was repeated with the simple change of inserting "starting in the first quarter of 2009" for the previous "starting in the first quarter of 2008". With simply changing one digit the company effectively eliminated an entire year of proposed growth and they haven't even done us the courtesy of saying why. Who believes enough in this enough to accept the complete lack of good faith the company demonstrates to shareholders.
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It won't happen again until the cto is lifted. He tried it in August the stock moved briefly to .12 and then began to plummet again. Even gamblers will shy away from a stock that has restricted trading. Although people who live outside of the jurisdiction of the cto can purchase the stock the very fact that this has gone on for more than 18 months gives people pause. More often than not when a stock has been under restrictions for this long it will ultimately fail. That's because the company can't float stock for more capital until the cto is lifted. This company may be unique because they still have operating capital but ultimately that will be gone too if nothing changes. Our hope has to be that they figure out how to get out of this mess before they run out of cash. Then, the stock may have a future because sales do exist and perhaps the Zigbee can be manufactured and sold and other ideas may take shape. That will require more cash than they have available currently so they have to tread water for now while they try to eliminate the cto. That has to be Job 1 as the old truck commercial goes.
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.009 shows as .01 on Yahoo. That your bid Guardian?
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I believe it has to be by Friday to be on time. Seems like everything is down to the wire with this company and they've never been early with anything so I hold my breath and hope for the 28th.
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The info showed up early on the OTC site under Level 2.
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It is now exactly 3 months since Mr. Wu issued the letter to shareholders. In that time the stock has collapsed, news stopped flowing and we still are dealing with a company that has trading restrictions in certain jurisdictions. Given that the company reports its' head office in one of those jurisdictions, this is a mess. We can really do nothing more than wait. My holdings, which are substantial, are worth so little at this point that I might as well wait it out in the hopes, as faint as I may think they are, that something positive can still come from this.
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I suspected that we would see some small amount of trading today but I expect that all will be quiet on Monday again. Now there is only Nite bidding above 1 cent. This could freefall to a half penny very quickly. It appears as if this company has no leadership at all anymore. I can only guess that the accounting problems with the company were so bad that they can't be fixed. If there was a good story here someone would be buying. The fact that only $145 in trades have happened in the past 2 weeks tells you that no one is buying even at these deflated prices. An absentee company president doesn't help. I hope that the paddles are at hand because this can only survive if it is jolted back to life.
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I'd expect a small trade tomorrow to just be sure the stock has traded during the week. That appears to have become the pattern. A total of $23 in trade over the last 12 trading sessions is indicative of how sick this has become.
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Today's trades are indicative of the chaos that is bulletin board trading. Some moron at one of the market makers made a $3 trade, that's correct a $3 trade (250 shares @1.2 cents). The idea being to perhaps prompt someone to unload. A few minutes later a $20 trade to bring the price back to 2 cents. Both trades are obviously bogus but reflect the nature of the mostly unregulated marketplace that is the OTCBB. The other piece to this marvellous story is that now it's November and we've reached another mini milestone, that being a full year and one half with the cto in place and we have no idea whatsoever regarding any progress made. Theoretically we should be seeing another set of financials in the not too distant future. I wonder how much cut and paste we will see this time. Is Mr Wu still alive? Has he been lost at sea? Does Kabani and Co. really work for TransAkt? These and other great stories may never be told. And so we wait. I really thought this would be over before the snow flew again, not so though as we had our first dusting last night. What a crazy, frustrating thing this is.
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It's all been said guardian. We keep going over and over the same stuff. Until the company issues news, the cto is lifted or buying comes back in there is nothing much to talk about.
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I think you are correct about NITE. I thought that maybe you had lucked out and picked up 20 K more.
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I doubt it. The only people getting any information are the large shareholders in Taiwan. The company has built a culture of secrecy and they are holding firm to it. Mr. Wu is the only real decision maker and there simply isn't any leadership presence in North America anymore. There is a one man office in Canada but for all intents and purposes this is a Taiwanese company and the company language is Chinese not English.
Did you note the 750 share signal sale this morning? I suspect it was you Guardian who bought at .151 after that.
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I doubt they are selling them. For the most part the MOUs etc that the company has announced have been empty fluff. The only real revenue is generated through HTT's old distribution channels in Taiwan. This is still a one trick pony. Much of the competetive edge the company might have had has been lost due to the inability to deal with the cto. China might be a huge market but the company appears unable to get to that potential. On a further note we might discover that Mr. Nielson's job title is "lonely". I think he may be the only employee in Calgary.
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It is common when a stock is stagnant and little interest exists. Just like arbitrage the mms play tiny spreads in currencies and because they can buy/sell without accrued costs they can make money on even the smallest of gaps. The OTC is a made board, meaning that the mms can pretty much do what they like to create the market. When a stock has a compelling story that has strong retail investor interest they can back away and make money from their commission structure. In this case they are creating false tops and bottoms. It makes no sense for a retail investor to sell 1000 shares at 1.9 cents. That's a $20 sale and no retail investor would generate an order of that size. That isn't to say that we haven't had some disgruntled folks selling their stakes. That's when we see tens of thousands of shares trading. The little trades that move the price up or down, usually at open or close of market are the trades to be most suspicious of.
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It is about and will continue to be about the cto. Without it ending this stock is going nowhere. You keep popping in and out of the bid/ ask Guardian, moving the bid by small fractions of a penny and your house remains a low priced seller through it all. Congratulations on picking up any that you can but when the house you are dealing with is part of the problem then that is indicative of the cto problem that the mms are working almost like arbitrage. No amount of effort will matter until the cto is gone. At least at that point we will have an idea of the battle we are fighting.
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Deep grief. It appears as if the company has given up. The stock is now being offered at less than breakup value as best I can determine after reading financials. Certainly the lack of any response at all from the company is suggesting that no good outcome is likely. Very sad really.
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Horrible day. Perhaps a portent of the future. The fact that no effort was made to stop the bleeding is scary.
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Horrible day. Perhaps a portent of the future. The fact that no effort was made to stop the bleeding is scary.
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gdubya shows up once in a blue moon makes predictions that to this point, if not completely wrong, are at the very least way off base with respect to timing and then vanishes from the board. I can only assume that he/she thinks he/she has inside info but to this point it hasn't been accurate. Perhaps just an old fashioned pumper. Hope not, but could be.
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Rally or crash TransAkt doesn't participate and as stated by Extreme (I think) it won't until the cto is gone unless the company prompts a rally through a pr firm.
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Unlikely based on the comments earlier. If, as reported, their were 10 issues plus some restatements that required Kabani to work on then I think this week is too early. I'd love to be wrong though.
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Just for information sake folks might like to know that today's buys were primarily to cover a short position. 17.1K reduction in the short position for Takdf today. That may tie in to Greenhorn's information. I can hope can't I?
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As I understand it anyone who is not resident in BC or Alberta can purchase shares. Wu indicated that a move to a Nevada jurisdiction was in the works. I haven't been paying attention in the last few years so I'm not sure if reciprocal agreements exist between The US and Canada regarding cto issues (I know that they did on big boards). Maybe that is why they continue to stay up there and work to eliminate the cto. If they can't make a public offer, even in another jurisdiction, then the cto issue is the "whole enchilada" and Wu and everyone else should be doing nothing but working on the elimination of it. If moving solves the problem then back up the truck and pack up and get out of Dodge (Calgary) and get the show on the road. But I reiterate that I don't think they really know what to do.
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Sometimes people just "give up". Nobody has been consistently willing to pay the ask for several weeks now so people are beginning to assume that we had our brief flurry and we are back into months of lack of interest, lack of news and lack of progress on the major issues facing the company. I really don't blame them, maybe they bought the shares at 3 cents and want out now that things have stagnated. The current share price is the responsibility of the management, not the fault of sellers. We do not have a large short position so it isn't being manipulated, to any extent, right now. I believe that if the company felt an obligation to the Canadian shareholders and as a result have been holding back in anticipation of the cto being lifted, they should let that go. I think at this point that even the Canadian shareholders will understand that the company needs to move forward. They may not be able to buy the cheap shares right now but I bet they would live with that to see the price move back to 12-15 and would buy at that price when and if they were allowed. If not at least their stake is worth double or more of what it's worth right now.
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I'm betting that because TransAkt must be a low level client for Kabani that TKT has to wait for Kabani to move us to the top of their "to do" list. Right from the beginning Kabani did not understand the demands and regulations in Canada and if you remember they had to be certified in Canada to do the job. We were told that they were experts in dealing with business in the Far East but we weren't told that they were novices in dealing with business in Canada. The cto began in May of 07. With the very limited staff at TransAKT and the never ending demands (given the small staff) for quarterly filings etc I suspect that the magnitude of the task is almost too much. The last financials were amateurish in presentation (that's a worry) with direct cut and paste portions of the previous financials included, some of which were dated. If they get off the cto I will be pleasantly surprised. If they get off the cto by Thanksgiving (ours not the Canadian one in October) I will be very surprised and if they make the Canadian Thanksgiving date I'll be amazed. I'm betting December myself as the most likely time. Hope I'm very wrong.
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According to the ASC the company has not yet "met minimally acceptable financial reporting criteria". All of that is still in response to the reverse takeover of Halee. Kabani has yet to prove its' worth. Company leadership has not demonstrated the acumen to solve the problem and as time goes on the chances go up that they never will. The marketplace is not going to provide support to a company that cannot seem to get out of its' own way. Beta format was technically the best videotape product in the 70s but poor management, bad marketing and lack of public support spelled the end. We all spent billions of dollars recording on an inferior product that was better managed and marketed. TKT is eerily reminiscent, albeit in a smaller way, of the beta story.
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It helps when you have 15 million in cash. People don't worry about the quick fold. Also more than 1/3 of the shares held by insiders. That is usually a sign of confidence if they aren't being sold off. Market location is more stable with less red tape (excuse the pun please)to fight through. They obviously have a good PR program as the stock is trading large numbers and has been over time. Last but not least -- no cto. Still something we can dream about I guess.
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Thanks extreme, just read them. Nothing much to say really. It looks much like a cut and paste of the last MD&A. Some increase in revenue quarter vs quarter but nothing earth shattering. Headed for about 10 million in revenues for the year at this pace. Company says it will need 1.4 million over the next 12 months for expansion. That's a lot of shares at 4 cents. Wu reiterates the expectation of substantial revenue growth during the current quarter. That looks like a cut and paste from the last financials as the MD&A references business to be concluded in the 2nd quarter as if that is in the future and not the quarter being reported on. It also makes a point of indicating that the financials have not been reviewed by the company's external auditors. All in all nothing much to look at. Halee continues to be the revenue producer and Taiwan where the sales come from. Maybe others with a better eye will glean more information than I have been able to see.
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It looks like financials are due by month end. Haven't seen anything yet but the company hasn't made a habit of issuing a news release on quarters and it might take a few days for it to show up on the web. So I'm not going to panic but really hope things are ok with that piece at least. They have recently been meeting these requirements so I hope it continues.
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The next thing we should look for are quarterly financials. I have to look but I think they are due by the end of August to avoid being late. Is that what you are referring to Guardian? I'm going to the OTC website to try and confirm the due date. If it doesn't tell me there I'll scout around.
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The website for Alberta Securities Exchange still has the cto listed. We should be off by now. You could get your 2 cent shares guardian. Be careful about what you wish for because at the end of this you don't want to end up with millions of shares that are never worth more than 2 cents. The fact that they can't seem to solve the cto thing is worrisome. There are a lot of shares owned by Canadians and if they can't buy and sell they might simply choose to sell and given the limited interest in the stock that could knock the price down and leave it depressed for a long time.
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The market tells us that the stock is worth 5 cents right now.
Lack of support for the previous levels of 9-12 over the past week have more people feeling that the stock is going nowhere. I was surprised that the sell off last week wasn't countered. We are only short sold about 17,000 shares so that isn't the problem. The problem is that there are now several people who will accept 5 cents for their shares. Do they know more or less than we do? We can't know that until after the fact. I'm glad that you are buying guardian, I hope you are proven to be correct in your assumptions. I was just about to step back in when we hit 12 last week but I did comment about the lack of dollar volume when I said we could be 6 or 16 the next day. It seems I wasn't pessimistic enough. When this stock begins to trade $100k a day, if that ever happens, we will know a little more. Right know that would mean 2,000,000 shares per day. A really good day for us now is $2000 in trade. Corner stores sell more than that.
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The problem is that we have had many "good news" stories over the past few years but they haven't meant a thing. We continue to be told about new products, who will buy them and how revenues will grow. We've had point of sale stuff, voip stuff, solar powered cell phones, paraphanalia and equipment for a whole bunch of things and now a zig bee or something that the entire world will want to buy. I need to see this stuff actually sold (for a profit). The company has been so schizophrenic that I'm having difficulty figuring out what they do. Seems like the "idea of the month" club is at work here. We have more MOUs and deals than we have dollars in the treasury, we've spent hundreds of thousands on pr and investor relations etc and today the stock didn't even trade. The folks up in BC and Alberta can't buy the stock and the wheels continue to spin. The cto has been in place since May of last year. That is long enough. Perhaps the hiring of Kabani was the mistake. How long is "long enough" to solve the issue?
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That doesn't mean I'm letting the company off the hook for not getting it right the first time. Certainly appears to be a lack of acumen in the initial stages. Hopefully the painful experience that the company and shareholders have gone through in the past 2 years has provided wisdom to the leadership. Most of all we need deals with numbers not just vague comments about potential future revenues etc. When and if that happens I would also agree that we could see substantial gains in share price. Until then the market can play with us all that it chooses to because there are not sufficient trading dollars in play to provide price stability, as witnessed over the past couple of weeks. Sophisticated investors (not the gamblers currently here and I include myself in that group) will take this to new levels and be the catalyst for company growth that has the potential to be exponential. IF the cto is off and if revenues grow and if new revenue streams prove out we could all be quite happy.
I'm still waiting for confirmation of deals that were promised months ago (or at the very least an acknowledgment from the company that the deal is dead (eg Sanyo in China)
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The HTT deal was complex. Securities folks don't look at it as TKT taking over Halee but actually a reverse takeover by Halee and in truth that is actually closer to reality because Halee was actually supplying most of the revenue.
That meant having to restate all financials. It would also mean that TKT would have to supply past financials for Halee. That could be the problem as many private companies have not had to previously exercise financial due dilligence in the way public companies must. Audit committee issues and audit scrutiny seem to be the primary reasons for the cto as indicated by the ASC webpage. Hopefully TKT has answered the questions and we await a decision.
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And so it has now retreated to 8/9 on the bid ask on only about $3000 in trades. It will be interesting to see if it is bounced back up before close.
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