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I recently tried to get some info from Spartan Securities, the MM, regarding PTEL. The 1st email was unanswered, so when I sent a new message, I included the old one. Here is the response, as well as my emails to Spartan.
I was disappointed greatly.....
[Pick]-
Thank you for your email. However, I don’t feel any obligation to provide you with any explanation as to what, when or how we provide services to PTEL.
If you feel our firms services would not be beneficial to you please don’t use us.
Micah Eldred
CEO
Spartan Securities Group, Ltd.
727-502-0508
From: [Pick] [mailto:[Pick]]
Sent: Tuesday, July 03, 2007 4:29 PM
To: Micah Eldred
Subject: Spartan Securities and Petel, Inc.; shareholder involvement - RESEND
Importance: High
Mr. Eldred:
I recently sent you an email inquiring about Sparatn's relationship with Petel, Inc. You have never replied.
I am, therefore, renewing my inquiry to you of Spartan's activities on behalf of Petel, Inc. I am a shareholder of PTEL, and have been solicited by Spartan to move my invetment account to Spartan. I don't see what or how that benefits me, especially with regard to PTEL, for whom your company sponsored and received approval of a 15c211 application.
My previous email to you stated:
Mr. Eldred:
I am writing to request information dealing with Petel, Inc., (PTEL), a small-cap company for which Spartan Securities submitted an 15c211 application. Approval of this application was granted late last Friday, June 8, 2007.
I am a shareholder in Petel, and have been so for over 2 years. However, I am uncertain what Spartan will be doing to assist Petel in its trading of shares on the OTC pink sheets.
Please be so kind as to clarify for me what exactly Spartan is or will be doing to assist Petel, Inc., how it will or is doing so, and the time frame within which Spartan expects to take such actions. I am asking as I have not seen Spartan involved, publicly, with the buying and selling of Petel, Inc.'s shares. (I am of the understanding that Spartan's trading abbreviation is MICA)
I thank you in advance for your information and assistance.
[Pick]
I would appreciate your reply, in a prompt and professional manner. I am repeating my request as I have seen no indications whatsoever that Spartan has been involved in the trading of any PTEL shares, despite the 15c211 application and the business relationship which exists between Petel, Inc. and Spartan.
[Pick]
Petel said that they were not going to spend more money on it...which makes sense if they are spinning it off, so it must be anything BUT dead.
What makes you say that? I got in at a high price ($1.00+) and am seriously thinking of cutting my losses and selling....I don't think this is a POS, just a bit of a turkey b/c of cash flow problems.
Other than freeing up shares for others, why stay in? Alaska seem sooooo far off...that was why I got in in the first place, but the dry wells are killers..........
Okay, maybe my mind is still on vacation.........I thought that Person was a Canadian company....apparently, it is part of a larger group based in Dallas...........and DTC ordered a halt to BHUB trading............
............but what does that have to do with PTEL? I thought BHUB was accusing Selact American of shady dealing, not Penson, who is used by Spartan...........MIDTOWN, I missed the connection, throw we a line, please......! Thanks.
Midtown: Who is Peterson? Do you mean Darrell Peterson?
I tried to get on the Spartan website earlier today; got nothing. I was doing some research on Micah J. Eldred, and went to the www.spartansecurities.com site...or rather, tried to, but it came back as an error.
Thanks. I just checked out their Account Access, and found they work through Penson.....not sure if that is good or bad....just understand it is a Canadian firm that was involved with the BHUB halt before the halt became a DTC halt.
Lem, where did you get THAT from?
Spartan is NOT the transfer agent....that's not even their business. They are MMs and they do investment banking services. I was googling Micah Eldred and Spartan....I saw absolutely nothing that indicated that they were T/As....certainly not here!
Island Stock Transfer in St. Pete, FL is the T/A.
When I talked to Mackey McFarlane the week before last, it didn't sound like it. It seemed more that the uplisting paperwork was, initially, at least, being prepared by PTEL....Spartan wasn't doing much of anything. McFarlane indicated that they had sounded out PTEL's need to get some investment capital, but added that PTEL didn't seem to need that.
I sent an email to Micah Eldred, who is supposed to be the Spartan head and he never replied. I resent the inquiry earlier today.....doubt I'll get a response.
OT:
Tjak/Mike:
I guess I read Blazed's post before you pulled the trigger - thanks, and sorry, but, ...... well, it's been said before.
Spartan, or Spartan, where the hell are you?
I just checked the OTC:BB listings for companies with which Spartan has been dealing in their stock, and PTEL is completely absent from the list.
Go, Spartan, Go. You have been doing a heckuva job....you and Brownie!
Rather than blather, trying to "save" the investors, why don't you try adding something of substance to the discussion. While there are those who take issue with some posts by others, like BV or Capt. Bob, they contribute information to this board.
Blathering for the sake of blathering wastes precious bandwidth. Go buy some firecrackers and celebrate the 4th.
I got mine on 6-22-07; bought 550 shares thru Bank of America on 6-1-07 and got $ 0.03 cash on 6-6-07 for my fractional shares.
I probably need to complain about the cash but its not worth the time.
Are there any revenue/sales figures available for MCII? When would their 1st quarterly report as a public company be due?
Didn't they issue shares (100,000) to a2a?
Are you sure that it is 504 financing, or the principals simply selling off their shares? Remember, that Evans and Morton also filed 144s......my guess is that that is what we are seeing.
Thank you, Bob, for that explanation. It is rather lamentable that Spartan, the 15c211 sponsor, has done NOTHING to help the PTEL shares. In my conversation with Mackey McFarlane, he told me that Spartan was working in the background, but was not actively trading PTEL stock.
I posted the OTC MM volume list for June 2007; there were 10 MMs listed for trading PTEL shares; Spartan (MICA) was missing from the list.
My guess would be that the Petel management would be unimpressed by this lack of effort by Spartan; I expressed my dismay to McFarlane, who told me that they were still "ear;y" in their relationship with Petel, Inc., and did not have shares in their portfolio for trading.
Obviously, Ptel can't "give" them shares, but as a MM with a 30 day exclusive period, I would have thought that Spartan would have acquired shares to bolster their position and execute their duties to PTEL responsibly. I had even sent an email to the Spartan president, Micah Eldred, asking him to "Please be so kind as to clarify for me what exactly Spartan is or will be doing to assist Petel, Inc., how it will or is doing so, and the time frame within which Spartan expects to take such actions. I am asking as I have not seen Spartan involved, publicly, with the buying and selling of Petel, Inc.'s shares."
Mr. Eldred has never responded.
I have seen nothing to indicate that Spartan has done anything to meet its responsibilities as MM to PTEL.
Hre are the MM trade volume numbers for June 2007. Guess what?
NO SPARTAN.
PTEL - PETEL INCORPORATED
Page of 1
June 2007 May 2007 Year-to-Date
Volume Rank % Volume Rank % Volume Rank %
Total Share Volume 10,165,731
NITE
KNIGHT EQUITY MARKETS, L.P. 4,172,928 1 41 7,593,618 1 31 24,516,132 1 31
DOMS
DOMESTIC SECURITIES, INC. 1,846,571 2 18 1,618,864 7 6 4,742,077 7 6
SBSH
CITIGROUP GLOBAL MARKETS INC. 1,379,929 3 13 4,945,001 2 20 6,639,930 4 8
HDSN
HUDSON SECURITIES,INC. 985,586 4 9 2,034,432 5 8 10,547,708 2 13
PERT
PERSHING LLC 670,685 5 6 996,622 8 4 3,072,143 9 3
UBSS
UBS Securities LLC (UBSS) 499,097 6 4 2,370,096 3 9 9,065,225 3 11
ETRD
E*TRADE CAPITAL MARKETS LLC 381,685 7 3 2,040,784 4 8 5,885,373 5 7
VFIN
VFINANCE INVESTMENTS, INC 100,600 8 <1 10,000 12 <1 230,600 12 <1
WDCO
WILSON-DAVIS & CO., INC. 78,650 9 <1 41,000 10 <1 119,650 14 <1
HILL
HILL THOMPSON MAGID & CO., INC. 40,000 10 <1 221,177 9 <1 606,355 11 <1
AGED
A. G. EDWARDS & SONS, INC. 10,000 11 <1 - - - 10,000 18 <1
Page of 1
http://www.otcbb.com/asp/tradeact_mv.asp?SearchBy=issue&Issue=ptel&SortBy=volume&Month=6...
Good Morning, all. It's Monday!
And do you know what else? Two developments --
1) JB's latest greatest news is to be announced, and
2) BV is (temporarily) banned!??
I eagerly await the news, and am absolutely puzzled as to why BV was banned. Mike? Tjak?
...........what a way to come back from a vacation!
Assuming 100 pence = 1 British pound, then 75 pence = .75 BP (British Pounds)
I used the converter from the Forex site, and at .75 BP, that equals $1.5069 US.
If, however, 75 pence equals .075 BP, then according to the Forex converter, .075 BP equals $0.15069 US.
Pop: I may have mentioned it. I bought in several months ago...they are prepping to uplist....getting final audits for the 10sb....just got back in town from a vacation to Disney World......and saw that SLON ended the week at .033....not bad, considering I'm in at .015!
I haven't got caught up on the week there yet, but it was looking very good when I left..
pick => 500 sh.
I may put in a sell at $5000.
Capt.:
I seem to recall the Philip Evans and David Morton are at the top of the totem pole. From the Petel website:
Petel Limited Management Team:
David Morton
Chief Executive Officer
David Morton is an internationally recognised broadcast industry professional, having produced and launched multiple television channels for BSkyB throughout the birth of multi-channel then digital interactive television. Morton went on to found and develop National Geographic’s international interactive division, whilst continuing to create and produce industry award winning promotional and marketing campaigns for television, web and print.
Morton’s ability to morph new technology into accessible, deliverable and quantifiable business elements combine with his flair as a team builder and motivator, bringing experience in establishing creative teams to divisional level, producing everything from broadcast programming and interstitials to multi level marketing support.
David Morton’s commitment to deliver a globally recognized portfolio of brands in the Digital Media space is fundamental to the current and future success of Petel Limited.
Philip Evans
Chief Operating Officer
Philip Evans combines a unique mix of management credentials and adult entertainment experience, exploited to the full in the development and delivery of the current Petel Limited portfolio.
Following a position as Senior Producer for WorldSport Networks, Evans became Head Of New Media for Northern & Shell PLC, handling such brands as OK! Magazine and Television X - The Fantasy Channel, before launching Sapphire Media Limited. which, within the space of two years became the third largest publisher of adult magazines in the UK.
This period also saw Evans appointed as Director of Penthouse UK, relaunching the brand and re-establishing it as a major force in the men's entertainment sector.
Intimate knowledge of the target industry, a track record of delivering strong performance and the ability to maximize market potential of each chosen sector underline Philip Evans’ value to Petel Limited.
Also
Monday, 21 May 2007
Petel Incorporated today confirms the recruitment of Bryan Francis, former Editor of Penthouse UK to the SexQube.TV management team. SexQube.TV is the world’s first free-to-air Adult Broadband TV network, and incorporates multiple interactive revenue streams alongside the free content.
Francis previously worked with Petel Incorporated Chief Operating Officer Philip Evans at Penthouse UK, where he led a small team responsible for increasing circulation over 1000% in a twelve month period. Evans cites Bryan’s editorial and managerial input as a significant contribution to this success.
Brian joins SexQube.TV as Channel Manager and Editor week commencing 4th June 2007.
And
Petel Incorporated (Pink Sheets PTEL.pk) confirms the appointment of Angela Morton, former President of National Geographic Channels International, to the position of Chief Development Officer.
Angela, who takes a non-Executive board position, will be responsible for the development and creation of content for Petel Incorporated’s Broadband TV and Internet operations. Morton, whose previous experience includes a stint as an Executive Vice President at Fox Channels Group, will also be responsible for the recruitment and overseeing of any US based staff.
----------------------
I believe Angela Morton is related to David Morton, although I do not know the degree on consanguinity.
Also, Nik Ellwood is involved with marketing; he was in charge of sales and marketing with Medify, but I'm not fully sure of his title now.
This information has been freely available for some time through PRs and on the Petel website. Plus, since the decision has been made to spin off Medify, don't you think that that was a decision reached (probably) by Evans and Morton, a business decision made as part of their duties with Petel. You would probably have to look at minutes of director meetings to confirm that.......
I think this horse, the "question" of who is in control, has been beaten to death. Once again, because of the number of shares he owns, JB is viewed, legally, as a "control" person - that is for SEC purposes ONLY.
BV: Nice post. I would make this a PM, but I've been too cheap to pay,,,,guess I should make a change, but from what I have learned here and how I use the sight (perhaps insufficiently) PM is the only thing that I don't now get that would be, sometimes, useful.
Could you PM me the name of the software? I've gotten solicitations for trading programs, but have never heard anyone here mention them. They are tools. I'm starting to find that the more technical approach appeals to me.
Thank you if you could do that.
I'll be gone next week, so if I use up my 15 (now 14) more messages today, so be it...I'll be gone all week.
Good Luck to all.
I got my 500 shares yesterday. I PROMISE I won't sell next week - I'll be out of town and away from a computer....LOL!!!
Hold tight, hold fast.
DO NOT SELL!!!!
OT: Thank you.
Take care of PTEL next week; I'll be gone ALL week (yes, I know that may be cause for some to celebrate!) but please, just grow the pps while I'm away.....the higher the pps is, the more money we ALL make, and the more money can be put into growing this company (pun intended) with expanded titles, better multiplatform distribution, more subscriptions, and REAL REVENUES!!!
Thanks. Have a good week, boys and girls, and remember to keep some for the taxman cometh.......!
P.S. Remember, a2a and Medify shares are extras, for which your cost basis is ZERO!!! You will have NO tax deduction for capital loss, short term or long term. Remember that number, ZERO, when you think about selling your shares in a2a and Medify, because anything you get for those shares is all PROFIT!!!!
I would object to that deletion. The posts are what they are. What was stated was stated.
That's how other board members take the measure of other board participants. I think that is important.JMHO.
Welcome back, Lem. (On a side note, I got my MCII shares last night; bought 550 SWNE, got 500 MCII plus some cash - Bank of America my broker).
It was announced we are getting 2:1 shares of a2a for PTEL at current market. Apparently, before the "combination", a2a was supposed to do a 100:1 reverse split, so the deal was renegotiated where PTEL only gave a2a something like 100,000 shares - less PTEL dilution, but great big a2a dilution.
I'd look for a2a to do a reverse split to get the o/s manageable and boost the price. I also hope that PTEL has solid plans (no pun intended) for a2a to make it a worthwhile endeavor.
There was a PR which said the intent of PTEL is to spin off Medify into a new pink sheet company, where PTEL owners get stock on a 1:1 basis.
With regard to the MM Spartan, I called them and posted some info - please read my posts # 24357, 24402, and 24419.
Also, purely for your reading entertainment, we seem to be having a pissing match between a few members, some of it getting personal. Tjak and Mike have not (yet) stepped in, but it seems, to me, to be approaching that point where intervention may be necessary. Hopefully, it will clear up next week - that's fine, because I'll be gone all next week.
Oh, almost forgot, the pps closed down to .20. Sucks. IMHO.
Just checked...my account says 500 sh MCII!!!!!
Closing price is $4.00, but it doesn't have a total value.....yet. That's cool, that's why we play!!
Broker: Bank of America
Edit: I bought 550 shares, so I have to check about my fractional cash payment!
Thanks, Solid. That Spartan stuff is why I called yesterday....truthfully, I'm not satisfied with the answers I got.
Its not that I thought Mackey McFarlane was being deceptive or evasive - I don't. I think it was more a matter of me not asking the right questions, coupled with my not having a full understanding of what MMs are supposed to do.
Another factor is, I think, that Mackey may not have been the original point man between Spartan and PTEL, and thus is not fully up to speed on all things PTEL. When I told him I had not received the email sent to others, I gave him my email, and he found it on a list, but for some reason, Comcast (my isp) wouldn't allow his email into the mail server. I gave him a different address with a different provider, and the email went through.
He really didn't seem to know much, if anything, about Medify, either.
My understanding from my conversation with McFarlane was that Spartan didn't have enough shares in their own, in-house inventory.
Solid:
I talked to Mackey McFarlane from Spartan yesterday....he said they don't really have enough shares to be trading. They are trying to build up their customer base of clients holding PTEL, and he stressed several times that they were very early in the relationship.
They are still getting to know PTEL and where they want to go. He did say that they are working on an SB2 filing, but that they were a couple of months away from that.
I had also talked to him about a2a and their trading on the Plus markets. He said that it was possible fr a2a to get dual listings where they could trade on both the Plus exchange as well as the OTC market. I'd think that would be a good idea and make attracting US investors much easier.
I'm small fry here, will try to get more and will hold.
That will be easy for me next week' cause I'm gone on vacation and probably won't be anywhere near a computer...
I got 4500 - that's all the cash I had available!! <sniff, sniff>
I just got off the phone with Mackey McFarlane...apparently, I'm on their email list, but Comcast was flagging the email as spam. I gave him a different email (non-Comcast) and it came through, along with a bunch of attachments dealing with setting up an account with Spartan.
Mackey stressed that they were still very early on in the relationship....some of my notes from our conversation
Spartan would be available for investment banking in the future for future deals - PTEL is not looking, for now, at least, to Spartan for investment banking services, i.e. money for growth, acquisitions, etc.
As a MM, they appear on professional Level 2, but not active for quoting bid/ask prices...right now, apparently, they really don't have their own shares to put out on the market.
Interestingly, Mackey told me that for MMs and pinks, the MMs used to get a 30 day exclusive, but the rules changed and that is no longer the case, but other brokers can’t trade for their own accounts.
Mackey told me that PTEL was working on preparing an SB2 for uplist to OTC:BB; they have to be current on their 10k filings, and there are some other filing requirements, as well, but PTEL is probably at least 2 months away from eligibility to file the SB2.
Spartan wants to work w/ shareholders - they are looking for clients, but want to also be able to get other existing clients, incl. institutional clients, interested in the PTEL investment.
As far as Medify, he really didn't know much about it.
Mackey again stressed that it was very early in the relationship, still getting to know more about PTEL and where they want to go.
I'm trying to reach them now..it's 1:32 p.m.EDT..Mackey McFarlane, in particular...I haven't received anything by email or snailmail....right now, I'm on hold..........at least there's no crappy music playing in the background.
Well, I've been told he's out of the office today, but can call me back tomorrow. I asked if anyone else is handling PTEL..the receptionist didn't think so, but would have David Lopez call me back after he returns from lunch. Who is David Lopez? I'll find out.
So Spartan was the 15c211 sponsor on the approved application. Other than that, does anyone have an idea what it is that Spartan may be doing? I thought they had to get some other kind of NASD approval, but I thought they got that.
As the sponsor and MM, what, exactly, is Spartan supposed to be doing? Can they do their work "behind the scenes"?
I emailed the PTEL IR for the referral to Spartan, and assume that that has been done. I also emailed Micah Eldred, the Spartan president, but have not heard from him at all.
Anyone have an idea of their responsibilities to PTEL here? BV? Bob, Tjak? Mike? Lem?
Anyone?
Who? PTEL?
Thought this might help some.....
Posted by: lookup
In reply to: pick who wrote msg# 24130
Date:6/19/2007 12:01:08 AM
Post #24135 of 24333
I concur with your assessment, pick. The Greystoke school site is satisfactory explanation. There is no immediate need for the commercial site, and if Medify were to be spun off in an arrangement with The Phoenix Partnership, concerns about the Petel business would then be extinguished.
Conversations with several UK staff in May indicated that Medify software development for TPP may be complete in August. EMIS was not responding well to E-mail from Ian, and could be losing favor with Doncaster for clinical software. They would be wise to be more in step with TPP, preserving market share.
Welcome to iHub!
You don't appear to know the history of Medify.....it is a going concern with a real product.....they were getting f*cked by EMIS (I think they were trying to steal the technology and set up shop with Pearl) but Medify has active working agreements with TPP and CSC, as well as Vodaphone, Dextra and a few others, to distribute PDAs for use of the read/write technology over the NHS N3 spine.
They were already running some pilot projects in Doncaster PCT.....there should be some revenues by Q3 or Q4....their problem was the short term financing until revenues start streaming.......that's where Petel was a help...supply some money, Petel gets a reverse merger, later, Medify is spun off.
My guess is that Medify will spin off with significant input from one of its partners....eSource was discussed earlier this year, at least, it was insofar as our
(iHub) speculation.....