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The XBRL attorney they have historically worked with is out of town. It is easier, cheaper and faster to wait for his return than to pick a new company to handle it. Everything is done except the SEC attorney (xbrl) reviewing and filing it. I don't know when they expect him back but I cannot imagine it would be too long. If I hear more I will let you know. LT is also available and is handling the filing if anyone wants to contact him.
I got a letter in the mail and thought I would share a portion of it with everyone. In pennies it is always buyer beware. I have a lot more confidence in a penny that does not pump and much more patience with a struggling management team. To me it adds legitimacy not the opposite. It can mean failure but it can also mean that it is the real deal and there is a chance they get their act together. Of course each person must decide if the risk is worth the reward. Some opportunities have more upside than others. With this stock I understand the management issues and risk. I also see the upside as very high compared to a lot of other opportunities. I am willing to take the risk and wait things out. I will also do everything I can to help the success of the company. After all I own part of it. Investing is always a personal decision and is NEVER anyone else's fault if it does not turn out. It is a personal responsibility thing. If you blame others for your failures in the market you will never get better at investing. JMO - Now for the article:
The email started like this:
"My clients are mainly metal commodity [companies] -- the one that is ready to go right now is a public gold company. They are offering $25,000 for a write-up."
Ugh. In the movies, illicit offers and bribes are usually a little more exciting.
In Trading Places, the Duke brothers slide a briefcase full of cash to Clarence Beeks in a dimly lit parking garage in exchange for an early copy of the crop report. In Hollywood, bribes usually involve pay phones and money stashed in bus depot lockers.
I guess I was expecting something a little more theatrical the first time I was offered $25,000 to promote a stock. All I got was a lousy email.
(And in case you have to ask, I turned the offer down flat.)
Welcome to the world of penny stocks, where buy recommendations are for sale. Even worse, it's perfectly legal.
I don't know which gold company he was working for -- I didn't want to ask. I probably don't even know the real name of the guy who made the offer. But there's a good chance someone else has already written a bunch of empty analysis about his client.
"Is there anyone you can refer me to that would be interested? We have plenty of money for talent," he assured me. The answer to that one was another no.
Shady stock promotion deals are rampant in the penny stock world as companies desperate to increase their share prices pay so-called "pumpers" with cash, shares or a combination of both. According to the SEC, there's nothing illegal going on as long as the analyst writing the report discloses their payoff in the fine print.
I think that's heinous.
Here's a real disclaimer from an email I recently received pumping a tiny OTC mining stock: "Compensation: [We have] been compensated $20,000 cash via bank wire by a third party...This compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company."
How many people do you think read the fine print?
More likely than not, plenty of people bought that stock thinking that the "research" they were reading was unbiased -- in reality, it wasn't even research at all. It was a stock promotion.
And now paid stock promotions are spilling over into the legitimate world. Popular investment blog sites Seeking Alpha and The Motley Fool each had a slew of posts by pumpers earlier this year, and each site posted lengthy apologies to readers. The bottom line is this: Whenever you open a report recommending you buy a stock, ask yourself what the writer's motives are, particularly if the report you're reading is free.
I know we all know this but sometimes a reminder is nice. GLTA
It's the temperature he is trying to measure. I think he has everything else down. Once they decide what vessel size and carbon granules to use then they will just simply set the machine for temp and pressure. That will determine stone size. As you can see that makes mass production simple. Same components entering the machine each time just different machine settings based on what you want to produce.
Actually I believe they just sent results back and forth and that was part of the problem. CTDT did not have a rep there most of the time. Tabco was performing the test based on instructions and apparently were not as precise as needed. Next round then LT will in RI and will supervise. He will also have a live feed to Vegas for Mr. Snaper. I asked him to video the process also and he said he could do that.
There are very good reasons for the test to be done in RI. When they started the testing process they had $600,000 of which about half was spent on legal fees, etc. to start the new company. Tabco already owned and owns a machine that replicates the magnatek process. They use it for other purposes but it works for this process. It would cost several hundred thousand dollars to set up a building and move the machine to Vegas plus the cost to lease or purchase the machine. They simply did not have the funds to do it any other way. The next testing phase will also be done there for the same reason however they will have a live video feed to Vegas so Mr. Snaper can monitor all the testing.
Penny - I don't think this report will have any new information. Things were dead the last quarter while they looked for Mr. Prentice and decided what to do about him. I think they will end up filing 8K's before the next Q is due because they will have some material information prior to it's due date. I could be wrong but don't expect things to take an entire quarter to get a deal in place from investors.
They actually just had contact with Mr. Prentice fairly recently. Because he was supposed to be working on certain things they were hesitant to put things in process because of duplication. Once they heard from him they began to get things moving both from a funding perspective and filing perspective. As soon as they knew he was gone they ordered the financials. They arrived in Vegas last week and they started the filing process. If they are late next time I would be upset and concerned. For now let the change have a chance to work.
I don't think LT would be named CEO or COO. He adds a lot of value to the company in a lot of ways and should be part of things but not in either of those positions. JMO
Can barely pronounce his first name. His last name is Tutinean. He cannot help his name. He is a former Navy seal and MIT graduate. He is quirky, aggressive in how he wants things to move, and he understands science at a level comparable to Mr. Snaper. Mr. Snaper has actually told me that LT is brilliant and gets this process better than just about anyone. He needs to have someone harness his enthusiasm and aggressiveness. He is a very important piece to the company and people just need to get over is quirkiness and take what is says with a grain of salt. Given the authority (which he never had before) he will ensure the filings and administrative things are done flawlessly. I do hope I can convince them to drop the blog and go to a monthly written shareholder update. I am working on that.
Responding to questions about blog post:
1 - Yes Mr. Prentice is gone. They have a verbal resignation from him but as LT said they were waiting for it in written form. They will file necessary paperwork once they have that or sooner if they are not able to obtain one.
2 - They are discussing funding with several investor groups. Nothing has been finalized yet but there are strong prospects. At this point I would be shocked if a deal with at least one of the groups was not reached. At least two of the groups I am familiar with clearly see the potential in this technology. It is now a matter of making the numbers work.
3 - The new product is not related to the diamond process. It may add value to CTDT but not in the way most would suspect. That is all I can say about it at this time.
4 - Mitch - the measuring will done indirectly. Mr. Snaper discussed some of that with me. He realizes they cannot measure near the activity point. He has been working on the measuring with Mr. Akroyd from London and is very confident they will be able to get that issue solved quickly.
5 - Disappointed they were not able to get the filing done this week. I don't think filings will be a problem going forward. Mr. Prentice tended to cause issues/delays with filing. Now that he is removed LT will keep watch over the schedule and make sure they are done as a routine. Despite some frustration with LT from people here he is very organized and efficient. Mr. Prentice and LT clashed and it created problems. LT will be able to do what he does well now and it will be a benefit to the company.
6 - Everything on the blog is accurate. The decision to move on without Mr. Prentice was slow and it held a lot of things up. Once they decided to move on they have really cranked the action up and I expect this company to make significant progress this year.
Just my opinion but I don't expect the pps to stay where it is for long. I think it could move past .10 and not go done again. Just my opinion but based on the activity level at the HQ and potential news related items interest will increase. Also once the first piece of funding is done I don't think this thing stops.
I think the 24f is an error. The late filing report is correct. The Q report was due Friday. It is now due this Friday. LT is working on it. They have all the financials and are waiting on the accountant Mr. Li now.
Company has held two seperate meetings the last two weeks with different potential investor groups. I would expect we will know more within the next two weeks. Not necessarily a finalized deal but if either group is ready to roll up their sleeves and work out the details to get it done.
Hang in there everybody. The CTDT management team is actively working to get things rolling.
VC you are correct in that Prentice really did fail to deliver on promises. That said Mr. Snaper and Anthony have recognized that. The funding search is new but it is up and running and is being done aggressively.
You are also correct about share price. However I can tell you and everyone here that current proposals for funding will NOT dilute shareholders value nor incur debt. I can't share details but I can tell you there is a good plan in place to satisfy potential investors without hurting non-managemment shareholder positions.
I am working on that. I think it is important but they have a few "management" issues they are cleaning up and I don't think they will put out anything until then. I am fairly certain the next filing will have some information on some changes. At that point I am hoping we can start something like a regular monthly newsletter or update. Of course Mr. Snaper would have final say.
Thanks Ice - yeah the 200 share paint is frustrating. Let the market work naturally. It is a lot harder to sell the company to potential investors when the company valuation is 1.5 million versus 3 million. I certainly don't want the price pumped artificially but I also don't want it artificially depressed. Especially while the company is trying to induce investment. 400K is a lot more reasonable input when the company is valued at 3 million. The slight rise in pps only helps the companies position which in turn should help the shareholders.It also makes it easier to raise the funds without diluting stock. Whoever is hitting it like that is really failing see the big picture.
Hey Brad I sent you an e-mail if you get a chance to look at it.
I may end up not making a difference but there is no way I could sit back and watch such a great technology flounder without doing what I can to help. I actually have much more confidence in the management now than I did a few months ago. They are not going to let this die and are starting to do the right things to get this moving. They put a lot of trust in Mr. Prentice and he simply failed to perform the business functions needed.
OK here is what I gleaned from the Vegas trip that I can share. First - For those who feel a need to argue or question the information here. I am a messenger. I understand you don't know me or anything about me. If you choose not to believe what I share that is your perogative. I really don't care to get into a discussion or duel over the information. If you don't trust this stock don't buy it. If you own it but don't believe (well?) I really don't know what to say. For all others here it is.
After this last visit I will say this - If I had $400,000 I would hand it to Mr. Snaper today. I was able to see test results and photos showing the history of the process. I now have a very clear picture of what they can do and what they need to do. And yes money really is the key to the hold-up. For those who wonder Mr.Snaper does not have the means to fund it. He has some assets such as his warehouse but that does not translate into cash. He is footing the bill to keep the company afloat including paying Tina, the accountants, the legal support and cost of required filings. That may not sound like much but it means the company continues to be debt free.
From a history stand point the company actually ran two sets of test. In the first set of test they were able to produce large stones (like the one tested by GIA). They got the $600,000 funding which you are all aware of to run further test and establish the "recipe". When they ran the second set of test (in Rhode Island) they used different sized vessels and a different type of carbon granual. In these test they got smaller more grandular diamonds (which are actually perfect for industrial use). They did not have enough funds to refine the formula however.
The machine makes diamonds but they need to run additional test to "nail" down the recipe. The recipe would be a combination of vessel size, vessel wall thickness and carbon composition. With the recipe in hand they can change the temperature and pressure settings on the machine to vary the size of the diamond.
Based on this information the company actually needs two stages of funding. The first to fund a 3 to 4 month process to finalize recipe (measuring of temp would be included in this). The second stage would be to take the company into production.
They are working with a few groups on funding and I am working with a few different groups also. When they realized that the funding they were expecting was not going to happen they got busy and are now aggressively working to solve that issue. I don't know how long it will take. I have a lot of good contacts and some real possibilities but there is some work and education that has to be done. So again it will take a little time.
There are some other developments and possibilities which I can not share. What I have shared here is really common knowledge. I just got to see it first hand. I have no doubt the company will eventually secure the funding it needs.
They are aware of the upcoming Q report and will probably include some new information in it.
Again for those who are holding shares. They are working aggressively to get funding. Of course they cannot guarantee they will be successful. Once the smaller funding package (the first) is in place things should begin to move fairly quickly. If anyone has questions I will try to answer them. I may have an answer or I may not be able to share but I will tell you whichever is the case. GLTA
Final comment - After seeing what I have seen I am continuing to add to my share totals. I know there have been some people on this board that shouted from the roof tops about how great this opportunity was and then they left. I have probably seen more and know more about the company than any of them. I see the problems. But they are all correctable and some have already been corrected. I am not going anywhere.
Hey BigDaddy and All - I am in Las Vegas right now and am meeting tomorrow. I can tell you that caution is wise on this stock but I really don't believe there is a P&D coming.Certainly not from the company and there is not enough news to for anyone else to do it. The situation is this. There are 3 people actively involved in CTDT and none of them are really business people. Mr. Snaper is an inventor. Brilliant man and one who I believe will not only sort out the measuring issue with the magna-tek process but will take the technology well beyond just industrial diamond manufacturing.He has the mind and the will to do that. He just needs money. Mr Anthony is a friend and investment banker that has worked with Mr. Snaper for over 20 years. He put together the first round of funding for CTDT and will work to get the next deal put together. LT is very effecient from an administrative standpoint and also has a scary intelligence. He can not only handle admin duties but he can talk intelligently about the science with Mr. Snaper. He tends to get excited about possibilities and wander into the realm of possibilities and forward looking statements too easily but what he shares is not fiction from a science standpoint. Just much of it is not functional yet.
I do have some interested investors but they want some specific things done. This is what we will be discussing tomorrow. The next challenge will be getting what they want in place because some of that will take cash also. Not as much but some. So no firm funding commitment yet. But progress.
I can tell you that I am continuing to buy shares when I can. The more I know the more I believe this to be a great opportunity. I also understand that it will still take time. Those interested will need to continue to be patient. I am hoping they will allow me to put out monthly updates on activity. This should help interest in the stock. Not a pump just simply facts about company activity. The stock will probably respond a little to this kind of news but not dramatically until we get some real firm information/action.
It is a lot easier getting investors to part with cash when the stock is higher. Whoever keeps pushing it back down is only hurting funding discussions. Getting people to pay more for a stock than the market is tough but I have people that understand the long term value. However the higher the pps the better it looks to them and for them.
I will be able to put a little more info out midday Tuesday. I don't expect much but hopefully a little.
GLTA
Not sure how many shares NITE will print either. It might not take much action to get this to .0345.
The problem with "printing" diamonds right now is that they just don't own the machines. They also don't lease them. They contract out the machines and some of the labor and so they have to pay a hefty price to run the processes. Because of this the margins they can achieve once they own the machines are simply not there when they are paying to contract out the machines.
Billiam - actually the machines and process work fine but there a lot of variables that they need to work out. Basically they produce diamond now but won't know what they have carat size, color etc. until they open the vessel up. I equate it to mining diamonds. You don't know what you have until you dig it up. The length, intensity, position of the charge, combination of carbon in the tube, amount of air, as well as other things are all factors in the process. They need to run more processes to refine the recipe. In other words what is the perfect formula to produce the best results. The formula will also be able to be changed as they learn more to add color or change density, size etc. But again this is based on formulas that they need to determine.
They are not in production yet. They do not own the machinery and need funding to purchase it. They are currently looking for investors to help them move forward. They have a meeting with some investors the second week of February. I doubt they write checks at that meeting. They will more than likely request (as VC said) a trial run of the process to verify things before they commit. The trial run would be in Rhode Island where operational machines are and they can contract out the process. If the trial goes well then I would expect investors to begin opening their checkbooks.
Is was not Mr. Anthony's money. He is an investment banker that has worked with Mr. Snaper for over 20 years. He has helped him fund several of his projects including finding the original funding for Centaurus.
I don't. I have tried to contact him but he won't return my e-mails.
Hey Q - I hope so too. I know you have been with this stock a looong time. It is a shame they never really had a management team in place to take care of the business side. Hopefully we will all see that happen because with proper management and funding this really is an opportunity to be involved in something special.
Hey guys - the meeting I have been trying to get scheduled is now set for the second week of February. I just could not make everyones schedule work any faster. There will be at least 2 and perhaps 4 potential investors at this point. I am hoping to get more committments before then. They have to be accredited and must be able to invest $150,000. The goal of the meeting is to let the investors meet Mr. Snaper and Anthony and ask any questions they want to. Hopefully after the meeting they still have interest and will move forward with investing. If this group is in then I should be able to secure the additional investors needed so this is an important meeting.
Mr. Snaper and Mr. Anthony realize they need a management team. We are looking for investors who are interested in being experienced board members that will help the company look for and hire a proper management team and help with the strategic decisions needed. In other words the company will hire a management team that is responsible for the day to day operations of the company. Mr. Snaper understands that he is not that guy.
There is a lot of work to be done but I am hopeful we can begin to pull this thing together.
One of my request at the meeting will be that we put out monthly updates on company activity and progress. I don't expect that will be a problem as long as we stick to facts and current activity and don't get into projections and forward looking statements. That should help stabilize the pps and begin to build interest in the stock.
I can't tell you much more that this. I can't promise things will work out nor how quickly. I can tell you that I believe we are making progress and should know a lot more after the meeting in February. GLTA and Happy New Year.
Talked with Mr. Anthony earlier this week. We are hoping to have a meeting in Vegas some time around the 3rd week of January with potential investors. Will let you know firm date when it has been set. Hope you all have an awesome Christmas and holiday season.
Maybe I am just a certified Psycho - bwahahahahahah (lol)
You probably should have Jay - The company basically operated without any management which is why things are the way they are. I believe that they will be able to fix things and move forward into a very profitable company. But it will take time. For people who invest regularly on pennystock plays having money tied up for an extended period can be costly. At this point selling is tough and you are probably better served holding until the shares recover. I personally have always been in for the long haul so it does not bother me. But I know there are some like yourself who expected the company to be much further along based on blog post etc. I think that Mr. Snaper believed Mr. Prentice would have funding and business model ready to roll when they completed their R&D phase. Unfortunately for everyone this just simply did not materialize. It put Mr. Snaper in an awkward position and left shareholders with no news, forward movement or pps improvement. I expect we will know a lot more in about 2 months and hopefully begin to get regular updates. I am sorry it has been a rough ride and frustrating for shareholders. I really do hope you and all shareholders end up being well rewarded for your patience.
Mr. Prentice is MIA. Somewhere in Pakistan apparently and has not done anything with CTDT for some time nor has even been heard from. They will not officially remove him from any capacity until they can talk with him or are fully funded. But they have made a decision to move on without him and are working to do just that.
Having sat down and had a lengthy conversation with Mr. Snaper and Mr. Anthony I can tell you that this is simply not true. I agree that Mr. Snaper only wants to do science work and is not a business man. Also agree that he will tell you the same thing. It is completely inaccurate to say he just wanted to use other peoples money to do R&D. He WANTS to get funding to go into full production. He simply has not had the right people taking care of the business side for him. They are working on that. Can't promise it will get done. If Mr. Snaper has a flaw beyond his lack of business prowess it is that he is too generous with his skills, inventions and deals he makes. I doubt he has ever taken advantage of anyone in his life and am sure he is not doing it here.
Just as a note for those interested. I am doing this to help the company and am not paid by CTDT nor will I take a percentage of the funding typical of these type of deals. I have no formal position or relationship with the company.
I did not really offer them anything other than helping bring in some potential investors. Apparently none of the offers they have had have made it to Mr. Snaper or the terms were just too demanding like total ownership. The fact that they have no management team in place has really hurt them. It is going to take a special kind of investor or a fairly creative "package". I am hoping that some of my contacts will pan out. I have some "angel" investors interested and potential to bring in some heavy hitters if a few of the ones I have interested "verify" the legitimacy of the investment. If they see the potential then the heavy hitters will take their credibility into account and be willing to look as well. If that happens I would expect full funding. I am hoping to set up a meeting in Vegas with the potential investors and Mr. Snaper and David Anthony. I would like to get a couple more lined up before I set the meeting. Right now I have 4 but would like 6 or 7. I am still making contacts but if anyone knows some interested parties let me know. They need to be accredited investors and willing to put in a minimum of $100,000 ($10,000 initially) based on my structured proposal. If I can get the investors and get the deal I would like from both sides then it would be done without any dilution to current stock and no debt as well.
Not saying no news until then. But regardless of who puts something together funding and management or production wise it will take time. Many on here have already said that. The key is really the information flow from the company to the shareholders. Hopefully we can get some changes to that and start updating shareholders instead of just putting out photocopies of prior Q reports lol.
Hey guys - I can tell you all the technology here is the real deal and the breadth of possibilities endless. That being said any idea regardless of how great needs a solid management team. CTDT currently does not have a management team in place. I am working to pull together investors to fund the start-up operations. And yes they really are at a point where they can start-up. One of my stipulations in funding is that the investors are heavily involved in selecting the management team and are board officers so they can look over the direction and management of the company. I know many of you believe that my estimates of what this company can be worth are ridiculously high. I can tell you that after looking, talking and meeting with people I believe I was conservative.
This will probably take 6 to 12 months to get everything in place and really begin cranking well. One of my other stipulations for funding is that routine updates go out on the progress the company is making, ie, ordered permits, filed licenses, hired x people, placed contracts for building upgrades, etc. If this is done then the stock holders will be able to watch the company "grow up". I cannot promise you that I will be successful but I can promise you that I am doing and will continue to do what I can to help bring this mind blowing technology successfully to market. GLTA
Hotrod - I am trying to reach you. Check your PM's and ctdt e-mail address please. Thanks Bizops
There are other options which were discussed that will not result in dilution. I am not at liberty to say what those options are but they are realistic and in my opinion the more likely financing option.
Hey Brad - check your e-mail.
Of course they are. Next step is putting machines in Vegas. They need the funding to do that.