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From Today's Wall Street Journal
http://online.wsj.com/article/SB114178100650392055.html?mod=health_hs_medical_products
I happen to support Byrne in his fight. It demonstrates how difficult it is to fight Wall Street especially whewn their bonus moneys are at risk
This CEO is fighting madBy Greg Sandoval, CNET News.com
Published on ZDNet News: March 7, 2006, 11:45 AM PT
Forward in EMAIL Format for PRINT ZDNet Tags: Financial
A former boxer, Overstock.com CEO Patrick Byrne has picked the ultimate (Wall) street fight.
Byrne sparked enormous controversy last summer by accusing a number of investment bankers, financial journalists and hedge fund managers of collaborating to ruin the reputations of companies in order to profit when the stock price of those companies tumbles. Byrne claims that his online store has been victimized by such a scheme.
In a now infamous summer conference call, he seethed over an alleged conspiracy--going so far as to say that it involved a mastermind he compared to a "Sith Lord," as well as people who had once trafficked in stinger missiles.
Last August, Salt Lake City, Utah-based Overstock filed suit against Rocker Partners, a short-selling hedge fund, and Gradient Analytics, a research firm. Both companies are bearish on Overstock, which is profitless. In the wake of his lawsuit, the U.S. Securities and Exchange Commission has reportedly opened an investigation into the two companies. Critics have accused Byrne of orchestrating the SEC's probe.
"I don't pull any strings over at the SEC," Byrne told CNET News.com. "The SEC didn't need me to develop this case, and my sense is that this has to do with far more than Overstock.com. We're the tip of the iceberg."
But the ranks of Byrne supporters shrank by one last week, when his own father and company chairman, John "Jack" Byrne, publicly came out against his son's campaign to clean up Wall Street practices. The elder Byrne told The Wall Street Journal last week that he considers his son's holy war with the financial community a distraction and that he may resign his chairmanship over it.
"You know, when you're 74, you feel differently every day, based on what you have for breakfast that morning," the younger Byrne said of his father. "I never really expected him to get this fight."
Byrne elaborated on the current controversy in an extended interview last Thursday with CNET News.com.
Q: You seem to relish the role of the outsider or naysayer. What makes you that way?
Byrne: I guess by nature I'm a contrarian. I remember when I was about 11, my parents gave me a blanket with a white sheep on it facing one way and one little black sheep facing the other. I had sort of figured out by that point I was going to see things differently.
How did your fight with Wall Street start?
Byrne: First thing, you cannot believe anything being said about this battle by the financial community, by the East Coast financial press. There has been an urban myth for some years that there's a financial technique that hedge funds can use to make money but in the process destroy smaller-cap companies--small, maybe midcap companies. It's known by many names. I think of it as "failures to deliver"--one flavor of which is naked shorting. But there are other flavors of this problem.
The collective intelligence of the bloggers can actually be pretty good. They started getting in contact with me. When I first heard from them, I thought they were a bunch of wackos. I thought they lined their hats with tinfoil. It was really like that movie "Conspiracy Theory." But the success of any theory is its ability to make accurate predictions. They started making predictions about the things I was going to see.
They were really far out, strange predictions--and they all started coming true. So I started paying them some attention. The big picture is this: What the war is really about is this technique, or this urban myth, that this financial community has a method of profiting virtually risk-free but at the cost of destroying small companies. There is certainly a technique of orchestrating a bear raid on a company to hurt it.
I think there is a group of miscreants in the market that have to be flushed out of the market. No financial reporters from the East Coast financial media will report that that's what the fight is about--that's what the lawsuit is about--other than to just paint it as, "Oh! This is a CEO who is cheesed off because his stock went down, but if he only paid more attention to his company, maybe it wouldn't go down." That's the party line. They're a bunch of party hacks.
Can you tell me who they are? Is this a conspiracy?
Byrne: "Conspiracy" isn't the right word; it's an ideology. Remember I lived in Communist China; I know what it's like to witness party hacks developing a party line. So, yeah, I definitely think that among the reporters, there is a spectrum.
I think that there are fine, smart reporters who report the news fairly. They want to get at the truth, and they are people who could work as analysts themselves. The next level down are reporters that maybe get a little lazy: They get very close to some elements in the Wall Street community, they take a lot of tips from them, and maybe they rely a little bit too heavily on the tips.
The next level down includes some reporters who sit and wait for the phone to ring from their buddy at the hedge fund, who takes them out to the mansion in Long Island. And I wouldn't be surprised if there are some--a very small number of reporters--who actually are on the take. They have displayed such impenetrable stupidity. They've actually gone out of their way to let me know that they have an agenda and that they're not going to report fairly. They seem to gloat in the sense of power that they get by letting me know that.
What about Herb Greenberg?
Byrne: Well, Herb Greenberg (of Dow Jones' MarketWatch) would certainly be at the lower end of that spectrum. You know, I'm not saying he is on the take, but I think he is nothing more than a lapdog for certain powerful hedge funds.
(The San Francisco office of the SEC issued subpoenas to Greenberg and another financial journalist that required them to turn over phone and e-mail communications with sources. In an interview last week with The San Francisco Chronicle, Greenberg, who has been critical of Overstock in his columns, said: "The subpoenas were not about an investigation of me. They were about an investigation of Gradient Analytics." )
There are some people who have accused you of just blowing smoke to cover a profitless company, and there are others who say you've gone crazy. Has this hurt your business?
Byrne: Well, I could say just as easily that these guys are blaming Overstock for now being the target of federal subpoenas and investigations. But the truth is, you can see I was speaking about this when our company was blowing through its numbers and blowing everyone's expectations as well. This has nothing to do with Overstock; that's just a party line.
The SEC issued subpoenas, including one to Greenberg. Is this SEC investigation a result of your accusations?
Byrne: I'm glad you asked me that. When we filed our suit, we heard from several federal and state authorities and law enforcement agencies. We had developed an awful lot of good data, including e-mail, computer files, witnesses, affidavits...much more than what we've made public.
Being good, concerned, law-abiding citizens, we of course provided this to all these law enforcement agencies. I would say the reaction of different agencies has been different. Until yesterday, I had never acknowledged that I even met with the SEC. But yes, the SEC was one of those agencies. What became clear in our communication and meeting was that the agency was far down this path before we got here. I can't ask them questions, but it became very clear to me that they had to develop an extensive understanding on their own, and I just took the opportunity to fill in a few tiny squares for them.
It's kind of funny. The role is reversed. These guys have turned into a bunch of conspiracy nuts. They're saying these SEC investigations and subpoenas were orchestrated by somebody else and that they're innocent and how awful this is. Well, that's exactly what most companies say when they come under a bear raid. They say, "Hey, we've got some short seller who has dug up phony evidence, pasted it together, and they've tried to get some investigations launched."
I saw a clip where Herb Greenberg used the word "conspiracy" six times in 7 seconds. So, the irony of this situation is not lost. I'm anything but the guy behind the SEC investigation. I don't pull any strings at the SEC. The SEC didn't need me to develop this case, and my sense is that this has to do with far more than Overstock.com. We're the tip of the iceberg.
Continued ...
1 | 2 | Next>>
Thanks was about to post the same
More good data
The entire 14 page research report on NewMarket Technology can be accessed by clicking on the pdf file below. There are a number of additional charts, graphs and text beyond what many shareholders and investors may have received earlier.
NewMarket Research Report by Tri-State Capital
Rather than repeat them. I have posted a numbner of messages on the Yahoo CBST message board. You might find the contents of interest.
wise move.
Steady Stream of Good Newws Lately
Form 8-K for NEWMARKET TECHNOLOGY INC
--------------------------------------------------------------------------------
8-Mar-2006
Entry into Material Agreement, Change in Directors or Principal Officers
Item 1.01 Entry into a Material Definitive Agreement
On February 22, 2006, NewMarket Technology, Inc., a Nevada corporation (the "Company"), entered into a Quota Purchase and Sale Purchase Agreement with Flavio Firmino Da Silva, Marcio Archimedes Pissardo, Celso Souza Isberner, Alexanre Dias Couto and Mind Information Services Ltda., a Brazilian corporation (collectively, the "Sellers"), to acquire Sellers' 100% interest in UniOne Consulting Ltda., a Brazilian limited liability company ("UniOne"). The purchase price to be paid by the Company is $6,460,320, which may be increased to $8,539,680 based on various criteria. The purchase price is payable in tranches as follows:
o $1,000,000 is payable on the closing of the acquisition;
o $1,084,000 is payable on August 22, 2006;
o $1,084,000 is payable on February 22, 2007;
o on August 22, 2007, $823,840 is payable and a maximum of $520,320 is payable in the event that UniOne's after tax net profit exceeds $912,000 for the fiscal year 2006;
o on February 22, 2008, $823,840 is payable and a maximum of $520,320 is payable in the event that UniOne's after tax net profit exceeds $912,000 for the fiscal year 2006;
o on August 22, 2008, $823,840 is payable and a maximum of $520,320 is payable in the event that UniOne's after tax net profit exceeds $912,000 for the fiscal year 2007; and
o on December 22, 2008, $820,800 is payable and a maximum of $518,400 is payable in the event that UniOne's after tax net profit exceeds $912,000 for the fiscal year 2007.
UniOne is a systems integrator, developer and business practice implementation company, providing support for the integration and maintenance of enterprise software applications. UniOne is located in Sao Paulo and Rio de Janeiro, Brazil, as well as a regional office in Santiago de Chile, Chile.
The Closing of the UniOne purchase is scheduled for March 10, 2006 and remains subject to the satisfaction of customary terms and conditions.
Item 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers
On March 2, 2006, the Board of Directors of the Company voted to appoint Kenneth Arnold Blow and Hugh Grandville Robinson as directors of the Company. There are no understandings or arrangements between Messrs. Blow and Robinson and any other person pursuant to which either director was selected as a director. Messrs. Blow and Robinson may be appointed to serve as a member of a committee although there are no current plans to appoint either director to a committee as of the date hereof. Neither Messrs. Blow nor Robinson have any family relationship with any director, executive officer or person nominated or chosen by the Company to become a director or executive officer. Additionally, Messrs. Blow and Robinson have never entered into a transaction, nor is there any proposed transaction, between Messrs. Blow and Robinson and the Company.
Kenneth Blow, age 49, has been President and CEO since 1988 of Information Services Group, an IT consulting company focusing on projects in the United States, South America and Canada. Mr. Blow graduated from Prairie View A&M University in 1979 with a BA in Finance. He is on the Advisory Board for the
College of Business for Prairie View A&M. Mr. Blow started his career with Xerox Corporation as a marketing representative and then moved to Digital Equipment Corporation as a major account manager in the energy market. His last corporate assignment was with Microtel Pacific Research in Vancouver, British Columbia where he was a national account manager.
Major General Hugh G. Robinson (USA, Retired), age 72, serves as the Chairman and Chief Executive Officer of Granville Construction & Development Co., Inc., a firm that develops and constructs low- and moderate-income residential housing, since 2003. From 1989 to 2003, he was chairman and chief executive officer of the Tetra Group, a construction management and building services firm. He is an advisory board member of TXU Corp. He also is a former chairman and board member of the Federal Reserve Bank of Dallas. He is a retired Major General from the United States Army. He is a director of Aleris International, Inc. and Carmax, Inc. He is a graduate of the U.S. Military Academy at West Point, New York and earned a Master's Degree in Civil Engineering at Massachusetts Institute of Technology (MIT). He received an honorary Doctor of Laws degree from Williams College and attended the Harvard Management Program for Executives.
The log jam may be breaking
NewMarket Technology, Inc. Receives Strong Upgrade by Respected Research Firm
Wednesday March 8, 9:00 am ET
Management Reports 2005 Un-audited Revenue Growth of $50 Million
DALLAS--(BUSINESS WIRE)--March 8, 2006--NewMarket Technology, Inc. (OTCBB: NMKT - News) is pleased to announce a well-respected firm TSC, has upgraded their equity rating on NMKT. This strong upgrade comes at a time when the company announced adding an additional $14 million in revenue for 2006 by delivering services to Colombia Telecom and a large Florida Competitive Local Exchange Carier (CLEC) catering to the North American Hispanic Market. The upgrade is also due in part to NewMarket growing at a rapid pace from $2.3 million in revenue in 2003 to over $50 million in un-audited revenue in 2005. Recently NewMarket was named in 2005 as the 13th fastest growing technology firm in North America on the Delloitte Technology Fast 500. Rankings are based on percentage of revenue growth from 2000-2004.
ADVERTISEMENT
TSC is noted for their work with, account executives, analysts, portfolio managers, institutions, venture capital investors, individual investors and the media.
To view the entire independent research report, please click on the attached URL: http://www.otclive.com or visit: http://www.newmarkettechnology.com.
Mr. Philip Verges, CEO of New Market Technology, Inc. states, "We are honored to have a quality independent research firm review our overall operations, progress and to provide the resulting upgrade in our stock. This provides further confirmation to our shareholders that our company is headed in the right direction". Mr. Verges further stated, "We anticipate 2006 to be another record year for our company. During the last four years, our revenues have increased over 18,000 percent. In 2006 we project continued year over year record growth with fully consolidated business unit revenue of $87.5 million. Recently, in our first quarter of 2006, we entered into a $14 million contract with Colombia Telecom and a large Florida Competitive Local Exchange Carrier (CLEC). We have executed an agreement to acquire UniOne in Sao Paulo, Brazil which reported $14 million in profitable 2005 revenue (un-audited). In order to better manage our rapid growth, we signed former Chairman and Board Member of the Federal Reserve Bank of Dallas, Hugh G. Robinson to join our NewMarket Board of Directors."
Let's get back to tyhe primary subject for discussion here.
There are a number of news items which have given the incorrect info about the panels voting. The panel unanimously approved to use of daptomycin in both bacteremia and endocarditis. The 5-4 split vote was over the labeling requirements that members felt had to be developed. These discussions will continue with Cubist and the FDA having to do some real soul searching to get these correct. Labeling is vital to the treating physician and in the case of these two very dangerous diseases it will be a most difficult chore that I expect shall take a few months. Agreement on this has to be reached before the FDA will act and hopefully grant approval to market Dapto.
Here is the Cubist Executive Summary which was distributed at the panel meeting held yesterday.
NDA 21-572/ S-008 Cubicin8 (daptomycin for injection) Sponsor's Background Package January 31, 2006 EXECUTfVES ARY ') Inftoduction / Infections due to Staphylococcus aureus, particularly those due to methicillin-resistant S. au reus (MRSA), constitute a growing public health threat because of the increasing incidence of these infections in hospitals and in the community, and the increase in associated morbidity and mortality. Infective endocarditis (IE) is the most serious manifestation of S. aureus infection and may occur in patients with structurally normal heart
( valves after a clinically inapparent bacteremia. Recently reported mortality rates associated
) with S. au reus bacteremia and endocarditis are between 11 % and 43% in patients receiving / .../ conventional therapy, and no decrease in mortality rates has been seen for more than ' 15 years. The problem is compounded by the emergence of community-acquired MRSA
(CA-MRSA) infections, particularly because these can occur in patients not suspected of having MRSA. Recent cases of patients presenting with rapid-onset sepsis, purpura fulminans. toxic shock, and death have been reported. Currently, limited options are available for patients with S. aureus bacteremia, who often require a prolonged course of intravenous (Lv.) therapy. Standard of care consists of empiric therapy with vancomycin, with switch to antistaphylococcal semisynthetic penicillin (SSP) for methicillin-susceptible S. au reus (MSSA) infections. Vancomycin requires twice-daily dosing and plasma concentration monitoring, while SSPs require dosing up to 6 times a day. For both of these agents. there is a risk of missed doses leading to a potential for decreased therapeutic effect. and there are challenges for outpatient therapy. Tolerability issues include a history of penicillin allergy in up to 20% of patients. sodium load associated with i. v. antistaphylococcal penicillins. and infusion-related hypersensitivity reactions with vancomycin. Both agents are potentially nephrotoxic. as is gentamicin, which is recommended at low dose as part of initial combination therapy for S. au reus bacteremia. Because of the increasing prevalence of MRSA and the limitations of the currently available therapeutic options. patients are often treated with vancomycin, an agent that is, at best, weakly bactericidal and often bacteriostatic, particularly against stationary phase bacteria, characteristic of those in biofilm-associated vegetations. The properties of the ideal agent for the treatment of S. au reus bacteremia include bactericidal activity in both exponentially growing and stationary phase bacteria, potency against both MRSA and MSSA, proven efficacy in S. au reus infections. tolerability for long-term therapy, and suitability for outpatient administration. There is no current Food and Drug Administration (FDA) guidance document that defines the requirements for a registration study to support an indication of S. aureus bacteremia or endocarditis. The last-approved drug for endocarditis was imipencm in 1985 and was based on the experience of 11 patients with endocarditis in 3 studies. Cubist Pharmaceuticals, Inc. Page 2
y NDA 21-572 f S-008 Cubicin8 (daptomycin for injection) Sponsor's Backgronnd Package Jan 31t 2006 Cubicin@ (daptomycin for injection) was approved in the United States in September 2003, in Israel in July 2004, in Argentina in July 2005. and in the European UnioIlluJanuarv 2006 for the treatment of complicated skin infections, including infections caused by methicillin susceptible and methicillin-resistant S. aureus. The approved dose is 4 mglkg administered intravenously once daily. Daptomycin has many characteristics of the ideal agent for the treatment of systemic S. aureus infections. including rapid bactericidal activity; in vitro potency against both MRSA and MSSA; proven efficacy in complicated skin infections, including those caused by MRSA; efficacy demonstrated in animal models of S. aureus endocarditis at exposures similar to the human 6 mglkg daily dose; and once-daily dosing. In 2002, Cubist Pharmaceuticals, Inc., in collaboration with experts in S. aureus infections and with ongoing dialogue with the FDA, embarked on a landmark study to demonstrate the efficacy and safety of daptomycin in this seriously ill and growing patient population that urgently needs additional therapeutic options. This Briefing Package summarizes data provided by Cubist to the FDA in a supplemental New Drug Application (sNDA) submitted on September 26, 2005, for the following proposed supplemental indication supported by data from the pivotal Study DAP- IE-O 1-02. Proposed Supplemental Indication and Dose . Daptomycin is indicated for the treatment of patients with S. aureus bacteremia, including those with known or suspected endocarditis, caused by methicillin-susceptible and methicillin-resistant su'ains. . The proposed daptomycin dose is 6 mgfkg administered as a 30-minute i.v. infusion once per day for a minimum duration of 2 to 6 weeks, depending on the clinical condition. Major Findings The pivotal Study DAP-IE-OI-02 was designed as an open-label, randomized (1:1), prospective, non-inferiority trial to evaluate monotherapy with daptomycin i.v. (6 mgfkg once daily) compared with conventional combination i.v. therapy (SSP 2 g q4h [nafcillin, oxacillin, c1oxaciUin, or fIucloxacillin] or vancomycin 1 g q 12h, both with initial low-dose gentamicin). . A total of 236 patients were treated in the study, the largest randomized trial conducted to date in patients with bacteremia. with or without endocarditis. due to S. aureus. . The baseline characteristics of the patient population and underlying risk factors were similar to those in several large recently reported epidemiologic studies in patients with S. aureus endocarditis. The population was hospitalized and severely ill (75% with systemic inflammatory response syndrome [SIRS]); 38% had infections caused by MRSA. Approximately one-quarter of the patients were 65 years of age or older. The study met its primary endpoint, success documented 6 weeks following the end of therapy (test-of-cure [TOC] evaluation) determined by an independent Adjudication
Cubist Pharmaceuticals, Inc. Page 3
-.
./ r NDA 21-572/8-008 Cubicin411 (daptomycin for injection) Sponsor's Background Package January 31, 2006 Committee expert in the evaluation of S. aureus infections who were blinded to study drug therapy. . Results were robust, meeting the primary efficacy endpoint in the co-primary intent-to treat (ITT) and per protocol (PP) populations. . In the ITT population, 44.2% of daptomycin-treated patients had a successful outcome 6 weeks post-treatment compared with 41.7% of comparator-treated patients. . In the PP population, 54.4% of daptomycin-treated patients bad a successful outcome
6 weeks post-treatment compared with 53.3% of comparator-treated patients. . The greatest difference in success rates was observed in patients in the ITT population with infections caused by MRSA, with 44.4% and 31.8% of patients in the daptomycin and comparator groups, respectively, experiencing success 6 weeks post-treatment. Success rates were similar between the treatment groups for patients with infections caused by MSSA (44.6% and 48.6% in the daptomycin and comparator groups, respectively). . Daptomycin efficacy was demonstrated across pre-specified diagnostic strata: . In patients with known or suspected S. aureus IE at baseline (DefInite or Possible IE according to the Modified Duke Criteria), who accounted for 77% of the population, success rates at 6 weeks post-treatment were 45.6% and 40.7% in the daptomycin and comparator groups, respectively; and . In patients retrospectively categorized with S. aureus complicated bacteremia or right-sided IE (RIE), who accounted for 66% of the population, success rates at
6 weeks post-treatment were 43.0% and 39.0% in the daptomycin and comparator groups, respectively. Each study Investigator also determined response to treatment. Investigator-assessed success rates at the 6-week post-treatment time point were similar between the treatment groups: . In the ITT population, 53.3% of daptomycin-treated patients had a successful outcome
6 weeks post-treatment compared with 50.4% of comparator-treated patients. . In the PP population, 63.3% of daptomycin-treated patients had a successful outcome
6 weeks post-treatment compared with 58.3% of comparator-treated patients. Overall success rates were higher at the end-of-therapy (EOT) visit relative to those reported at TOC and were comparable between the treatment groups. The overall lower success rates at TOC were related to reasons other than relapse of S. aureus infection, and included receipt of potentially effective non-study antibiotics and lack of documented blood cultures. . Adjudication Committee-reported success rates at EOT were 61.7% and 60.9% in the daptomycin and comparator groups, respectively. . Investigator-reported success rates at EOT were 64.2% and 64.3% in the daptomycin and comparator groups, respectively. '" Cubist Pharmaceuticals, Inc. Page 4
NDA 21-572/8-008 Cubicioe (daptomycin for injection) Sponsor's Background Package January 31, 2006 . These EOT results were consistent with response rates reported in recent S. aureus bacteremia and endocarditis studies (>60%). The secondary efficacy endpoint of the study, time to clearance of S. aureus bacteremia in the ITI population, was not significantly different between the treatment groups. . Median times to clearance of S. aureus bacteremia were 5 and 4 days in the daptomycin and comparator groups, respectively. For patients with infections caused by MSSA, median times to clearance were 4 and 3 days, respectively, and for patients with infections caused by MRSA, 8 and 9 days, respectively. Patients in the daptomycin group were more likely to be reported by the Adjudication Committee as failures due to persisting/relapsing S. aureus infection and/or clinical failure (19.2% in the daptomycin group and 13.0% in the comparator group), and patients in the comparator group were more likely to be reported as failures due to premature discontinuation due to adverse events (6.7% and 14.8%, respectively). . Most patients who failed treatment with daptomycin, vancomycin, or SSPs due to persisting or relapsing S. Qureus infections had deep-seated infections and did not or could not receive necessary surgical intervention, including, for example, valve replacement surgery for left-sided IE (LIE), drainage of abscesses, removal of prosthetic devices, and debridement of septic arthritis. . No association was found between plasma daptomycin or vancomycin levels and microbiologic failure. . Six daptomycin patients with persisting or relapsing S. Qureus had treatment-emergent decreases in susceptibility of S. Qureus to daptomycin (daptomycin minimum inhibitory concentration [MIC] increase to 2 J.LglmL [5 patients] or 4 J.Lg/mL [1 patient]). . One vancomycin patient with persisting or relapsing S. Qureus had a treatment-emergent S. Qureus with a rise in vancomycin MIC to 2 J.Lg/mL isolated on study. . The most common treatment-limiting adverse events reported as the reason for failure were rash (2 patients), increased creatine phosphokinase (CPK) (2 patients), and gastrointestinal events (2 patients) in the daptomycin group and hypersensitivity-type events (6 patients) and renal toxicities (5 patients) in the comparator group. There was no difference in overall survival between the treatment groups (p=O.976; log-rank statistic). As of last follow-up, 85% of daptomycin-treated patients and 84% of comparatortreated patients were alive. Treatment with daptomycin was well tolerated in a seriously ill patient population with S. Qureus bacteremia and endocarditis, and the safety profIle was similar to the known safety profile of daptomycin at 4 mglkg. . Similar overall rates of adverse events and serious adverse events were reported in daptomycin and comparator patients. . The most commonly reported events in the daptomycin group were gastrointestinal in nature. The incidence of these events was similar or higher in the comparator group.
I Cubist Pharmaceuticals, Inc. Page 5
- ..-- J y' NDA 21-572/ S-008 Cubicine (daptomycin for injection) Sponsor's Background Package January 31, 2006 . Elevations in CPK were observed more often in the daptomycin group, with 3 daptomycin patients discontinuing for elevated CPK. . More renal toxicity adverse events and abnormal laboratory fmdings were observed in the comparator group, irrespective of comparator agent, with 5 comparator patients discontinuing for renal toxicity. Conclusions Daptomycin administered Lv. at 6 mglkg once daily is an effective alternative to standard of care in the treatment of patients with S. aureus bacteremia with known or suspected endocarditis and has several advantages over current therapy, including: . rapid bactericidal activity . activity in stationary phase bacteria, typical of bioftlm-associated vegetations . proven efficacy in S. aureus bacteremia with known or suspected endocarditis, including infections caused by MRSA and MSSA . demonstrated tolerability for long-term therapy . convenient once-daily administration, allowing for outpatient therapy In an era of limited therapeutic options and in the face of an emerging public health threat, daptomycin 6 mglkg once daily provides a much-needed treatment option for patients with S. au reus bacteremia with known or suspected endocarditis.
This being my first post on this board allow me to introduce myself.When my wife was found to be sensitive to vancomycin her ID Doc put her on Daptomycin. This was two years ago. With this real world introduction to dapto I became an investor and have been closely tracking developments ever since. My office is but 2 miles from FDA so it was easy for me to attend yesterdays meeting, Be glad to try and answer any questions.
The best summary of the meeting was given by Dr. Cory from Dike Medical Center. He also served as the chair of the independent analysis team looking at trial data. he said very loudly
Bad Bug-----No Drug
..
Agree with your comments.
Analyst Report
March 6, 2006
United States – Technology IT Services & Telecommunications
NEWMARKET TECHNOLOGY INC. (NMKT - OTC:BB)
RecentPrice: $0.3350
TargetPrice: $0.895
SPECULATIVE BUY RATING
Michael Grobler, CFA
INVESTMENT THESIS AND RECOMMENDATION
Our analysis suggests that NEWMARKET TECHNOLOGY INC. is an interesting speculative play among micro-cap companies offering exposure to the investor on the widespread need for enterprise systems integration and IP packaged solutions. The investor enjoys the added benefit of being able to partake in geographic diversification with VoIP growth opportunities in emerging markets such as Latin America and China, where the technology is not well-known and the company prides itself in being able to consult with various enterprise customers to tailor solutions that will best suit them, while also introducing new technology to customers. Despite the size of the company it is already structured and positioned to provide diversity in more than one business segment to the investor, namely IP solutions and systems integration, VoIP and other telecom, healthcare and Homeland Security solutions. NMKT has begun to consolidate and optimize its general technology service business operations to include the divestment of unnecessary redundancies and streamline efficiency. NewMarket has acquired 4 general technology service business operations since 2003, which all hold tremendous promise for continued growth.
Both operating and financial risk involved in investing in a young technology company are typically high and should be considered by investors. In this case the risks are tied to the uncertainty surrounding competition and the speed and success of its international rollout. Due to the business model that uses brand name solutions that are packaged with new emerging technologies that are offered to customers, there is a risk to overcome the prevailing consumer resistance to new technologies, which if not achieved will raise marketing costs to launch new products or re-launch old products and to concentrate selling efforts. SG&A costs and infrastructure spending need to be managed well in order to achieve consistent profitability. Readers should understand that there can be no assurance that the company will be able to fast-track its intended path towards diversifying the client base, that will flow through directly to the top and or bottom line to build a consistent longer term profitable track record to enrich shareholder value.
We therefore only recommend investors that have a high tolerance for risk that are able and willing to forfeit either most or all of their capital in search for extraordinary returns, to consider investing in the shares. Also, in our view investors willing to commit capital to NMKT should do so with absolute minimum 2 year investment horizon, but preferably longer, to allow ample opportunity for growth to emerge until broader price discovery can materialize within the investment community that will allow the value behind the current acquisitions to be unlocked as new services to current and existing regions are added. Short term we expect an upward price bias in NMKT stock. There is some evidence of a meaningful short position in the security and the potential exists for a short squeeze scenario to develop should the stock price rise beyond the 45c level in quick fashion. In the medium term the major factor that may continue to result in share price underperformance is delays in moving the listing to a national exchange such as the AMEX and a restructuring of the capital structure to lower issued and outstanding shares (I/O) that has been identified as one of the major culprits of the share price appreciation not keeping pace with the major growth achieved in sales, profits and shareholder equity by NMKT management in recent years. We believe that the company will be able to make improvements on this I/O issue, that will ultimately lead to re-rating of the stock to better reflect what we believe is a more realistic reflection of the true worth of the company.
The goal of all publicly traded companies is to pay dividends and/or attempt to increase the value of their stock price. One of the core reasons which is pivotal to our bullish argument for upside in NMKT, results from our interpretation of the financial data and developments for NewMarket and added potential of its spin-off strategy for incubator companies that implies future equity dividend events. We see a value opportunity in NMKT stock for prospective and existing shareholders that can make tactical investment decisions, since management contemplates and targets spinning off the incubated companies from the main concern when the timing is right. This is the "the sum of its parts is worth more than the whole" argument. Based on recent outlook provided by management for FY 2006 for each of the respective units of the company, we expect financial performance to improve and begin to accelerate by middle of the this year (FY2006). We expect some improvement in the operating cost structure in FY2006 that will result in EPS increases of close to 100% on topline revenue growth ($50 million in FY 2005 to at least $87.5 million in FY 2006) of roughly 75%. Under the assumption that any further capital raising activity is well-managed to contain any further major I/O increases and positive cash flow from operations to be generated in FY 2006 as more progress is made to consolidate and synergize recent acquisitions, we are of the opinion that NMKT stock has compelling upside potential.
Given managements and our own independent forecasts, we are of the opinion that revenue potential of $87.5 million is achievable for FY 2006. Using our gross margin (44%) and operating cost (37.5% of revenue) assumptions we estimate a net pre-tax profit of $6.33 million for FY 2006, and forecast FY 2006 EPS of 4.2c (assuming 120 million weighted number of shares outstanding). We have not made allowance for 30% effective tax rate or tax expense of roughly $1.9 million in FY 2006.
Our view is that the shares are beginning to reflect the expected positive financial improvements we expect in FY 2006, but given the current low PE and Price to Book multiples, we argue that the market is assigning a low probability to the fact that high growth rates can be maintained off a larger revenue base and/or that the rating is negatively affected by the overhang of roughly 70 million shares that may be converted into common stock that will dilute the interest of ordinary shareholders.
We believe these concerns are exaggerated and that this negative dampening effect on the low rating of the shares will be reversed once the company is listed on the AMEX (AMEX peer companies trading at over 2 times P/S value), more institutional interest and position taking occurs in NMKT, and the fully diluted issued and outstanding reduction is implemented. The fully diluted issued and outstanding reduction will be achieved by exchanging preferred stock in NewMarket for securities in NewMarket subsidiaries. The company intends to complete and disclose the reduced fully diluted issued and outstanding in the upcoming annual report.
Using our FY 2005 and FY 2006 EPS forecasts and applying a forward 6 and 18 month PE multiples of 40x and 35x respectively, we arrive at forward share values of 80.7c and 97.7c going out 6 and 18 months. The PE ratios chosen are based on a blend of peer telecom and IT services comparatives and as a function of the expected growth rate, or PEG methodology. We have chosen a discount rate (k) of 31%, which is a function of the stocks beta measure, which is typically high for telecom issues relative to other sectors.
{k=Risk-free rate + (Market risk premium) * Beta}
We compute a present value of these two future values (forward price) by discounting and determining the average between these two present values (SEE TABLE ABOVE). This process yields a result of 89.48c which is our mathematical estimate of the value of NMKT under these assumptions. Given these calculations and our bottom up analysis which is more qualitative in nature, we set a 12 month target price for the security of $0.8950.
All factors considered, we anticipate a stake in NMKT still has compelling upside potential in the coming 12 months. Our 12 month price target also implies a forward Price to Sales ratio of close to 1.09x our FY 2006 Revenue forecast of at least $87.5 million, which is still well below that of with the average listed telecom services sector names and Internet and Software industry price to sales multiples of 2.09x.
We HIGHLIGHT to the reader that this forecast is made under the assumption that the company can attain our FY2006 revenue expectation of $87.5 million and a minimum of 4.2c positive EPS. Moreover, we believe that the present market for NMKT shares is far from efficient, does not fully reflect the leverage possible from the UniOne deal that will bolster growth in Latin America and secondly we believe that the potential healthcare acquisitions discussed earlier in this report, could dramatically change the future revenue composition of NMKT by growing the healthcare industry segment of the company to such an extent that it may dwarf the FY 2006 revenue forecast of this division of $7 million, in 2007 and beyond.
To summarize, we view that the share price and corresponding market capitalization does not adequately reflect the company's progress. The dynamics of the OTCBB is unlikely to consistently support true valuations based on financial performance. Financial performance similar to NewMarket's is supporting better share price to sales performance on national exchanges. In addition to taking measures to ensure continued fundamental financial performance, NewMarket is in process of upgrading its current equity environment by:
1) Achieving a listing on an exchange that attracts more institutional investors.
2) Pursuing institutional shareholder interest after this listing.
3) Obtaining financing for growth leveraged on financial fundamentals and moving away from equity only financing.
After reporting $2.3 million in revenue in 2003, the company expects to report over $50 million in profitable revenue for 2005. NewMarket's earnings and balance sheet metrics beat technology service sector averages for companies under $100 million in revenue listed on national exchanges (SEE ADDITIONAL INFORMATION that follows at the end of this report).
NewMarket's market capitalization value is currently less than half the average market capitalization value of these technology service companies. Once the company can achieve a listing on the AMEX exchange, which it has stated is part of its near term objectives, investor awareness and visibility of NMKT will increase which can raise the rating on the stock beyond our target price goal.
Under these assumptions we initiate coverage on NMKT with a SPECULATIVE positive rating, which is our highest category rating.
Risk to our recommendation include amongst other: failure of new marketing campaign(s) to its Chinese and Latin American customer base and landing of contracts in broadband and other solutions on municipality level, a slowdown in growth of current contract, service and product revenue streams that will lead to a contraction in forward PE multiple assumptions. New competition in regional markets, any stringent or bold regulatory changes impacting adversely on the US domestic and international VoIP, broadband, homeland security and healthcare systems and related telecom services and system integration markets, any inability to obtain necessary financing from capital markets when needed, to continue its business projects and/or major share dilution that can occur, if large quantities of shares are issued to extinguish debt or paid for services, are some additional factors that will counteract price appreciation potential or cause shares to decline in value.
Any failure to obtain adequate distribution of NMKT products/services to a large number of intended end users, the inability to achieve revenues in the future that depends in significant part upon NewMarket's ability to build upon existing relationships with, and provide support to, several large recognized branded communications suppliers can hamper share price performance. As a result, any cancellation, reduction or delay may materially adversely affect the business, financial condition and results of operations and additional risk factors that could adversely affect the attainment of our share price target include: market acceptance of NMKT products or services; consumer demand for, and acceptance of, products, services and follow-on products; the company's ability to create user-friendly applications and its unproven and evolving business model. Revenues and gross margins will depend significantly on the overall demand for IP Telephony products. Reduced capital spending budgets by NMKT customers caused by the ongoing industry downturn can lead to continued soft demand for products and services, which can resulted in decreased revenues, earnings levels or growth rates.
We would caution that given the size of the company (microcap) and risks involved, overall we advise private client positions be limited below 5% of the client's total portfolio size.
The research analyst, who upon request wrote this report, certifies that the views expressed in this research report, accurately reflects his personal view about the subject company. The analyst also certifies that he does not own or have any beneficial interest in shares of the covered company, also that no part of his compensation was, is or will be directly or indirectly related to the specific recommendation or view expressed in this report.
Based on the facts that were provided, the industry trends present and sources of information used to produce this report, it is my best opinion and reflection of what the company's rating and share appreciation potential could be once research coverage is widely adopted. Investors are urged to consider this report as only a single factor in making their investment decision. Information, opinions or recommendations contained in this report or research note are submitted solely for advisory and information purposes and we also do not accept any obligation to provide updates to this report in future.
Clients of the analyst firm collectively own less than 1% of total shares outstanding of the issuer. For securities recommended in this report the firm is not a market maker, but may from time to time provide bids and offers and may act as principal in connection with such transactions to facilitate trading liquidity or execution. The firm of the analyst does not actively seek to do investment banking business with the company covered in this research report. This independent analysis and judgment relies on material supplied by the subject company and other sources, such as SEC filings believed to be reliable. The analyst that prepared this report cannot guarantee the information contained herein for accuracy or completeness.
All information contained in this report is subject to change without notification. The information contained in this report is not intended to be, and shall not constitute, an offer to sell, nor solicitation of any offer to buy, any security. Investors are advised to consult their personal broker or investment advisor before making any decision concerning the subject company. Investors are also urged to do their own due diligence. In our opinion, only high risk oriented investors who can risk the loss of their entire investment should even consider a commitment to the covered company.
All readers are urged to peruse SEC documents relative to the subject company before making any investment decision. No reproduction of this report is permissible without the consent of the writing analyst. All rights reserved.
NAKED SHORTING TARGETED
(From the Raser Technologies Board)
February 16, 2006 -- Two state securities regulators have issued subpoenas to get at the trading records of Wall Street's largest firms in a quest to stamp out the controversial practice of naked short-selling, sources said.
Naked shorting — the tactic of selling shares short without properly borrowing them first in order to bet on a stock's fall — has been a concern of state securities regulators during the past year.
Utah and Connecticut regulators' first line of attack will be to get Wall Street firms' trading records via the Depository Trust & Clearing Corporation, which tracks and settles all stock trades. Regulators will be looking for the trading and customer ledgers of Bear Stearns, Morgan Stanley and Goldman Sachs, which all have large and highly lucrative clearance operations.
Connecticut's subpoena asked for information on four companies "with a strong connection to the state," sources said.
Utah, on the other hand, requested a large amount of market-wide data regarding alleged naked short sales.
A Utah securities spokesman declined comment.
Connecticut's top securities watchdog, Ralph Lambiase, said small companies vulnerable to stock-price manipulation via naked short-selling often lose their ability to get additional financing if their shares fall below $5, he told The Post.
Many of the companies purportedly under attack from naked short-sellers are often under either intense regulatory scrutiny or have posted abysmal performance for long periods of time.
http://www.nypost.com/business/61958.htm
I believe they now track your internet address so signing back in with a different alias will not longer work to get you back on. The only solution would be,I think, is to sign up with a different ISP ,for example one of the freebes like Hot Mail and use that account to sign back into the Raging Bull. Try it you might like it.
Fantastic! Thank you for posting it.
neither have I.
It appears that the company is moving rapidly to fill out it's structure and to begin girding itself for the massive expansion,I for one, see coming.
Who Is Knobias??
Knobias, Inc. (symbol: KNBS) provides complete financial information solutions for institutional market participants, corporations and industry professionals. By receiving early and accurate proprietary information, our clients can monitor and trade more successfully. Actionable data is delivered via high-quality applications consisting of proprietary products; analytics; streaming information; financial data; fundamental research; and third-party research. Clients using Knobias.com include: Charles Schwab, TD Waterhouse, Wall Street Access, Bear Stearns, Brean Murrary , Carlin Equities amongst others
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NMKT:Momentum Continues to Carry NewMarket Higher
Thursday , March 02, 2006 10:40 ET
NewMarket Technology (OTCBB:NMKT) appears poised to breakthrough its 200 Day Moving average after an extremely active five day trading period. With an average daily volume of 1.2 million shares, NMKT has moved 40% higher on more than 16 million shares over that time on positive expectations of revenue increases for 2006. These expectations stem from a contract win expected to equal 25% of 2005 revenue, and a strategic Latin American acquisition that is expected to equal another 25%. Another catalyst that could be adding fuel to the move is the announcement that a former Dallas Fed Chairman has joined the Company's Board. CEO Philip Verges is demonstrating his networking skills in landing Hugh G Robinson. Mr. Verges explained to Knobias that "...Hugh and I were interacting on some other issues, and I invited him to dinner to pitch my company, He was gracious enough to listen intently to my strategy, and he gets the direction we are going. I feel lucky to have his direction and skill set behind us...the challenge many times at our marketcap is to convince shareholders that we are truly undervalued ... starting at the top is the right strategy " In a recent interview, NMKT CEO said the Company expects approximately $50 million in revenue for 2005 and $2 million in bottom line income. This expectation could leave room for improvement if the Company intends to build on its recent momentum.
One challenge for the Company is that NMKT has a complex business model, which may have inhibited the Company in communicating its vision to the investment world as a whole. But this vision may be well on its way to the street through recent communications on its fundamental financial performance; and with the expectation of the annual report at the end of March, investors could see this issue begin to take shape as a potential winner.
Public Companies Associated with this story:
NMKT
Knobias Subject Codes Associated with this story:
MOVER(+) Technical Analysis Trader Talk VOLUME(+)
From Knobias
Tuesday , February 28, 2006 13:25 ET
This is the 3rd VOLUME alert for NMKT in the past 7 calendar days.
Trading for NewMarket Technology Inc (OTCBB: NMKT) has been heavier than usual in today's session. By 13:25 ET, the stock had already traded 1,834,600 shares via 105 trades. The cumulative volume is 42.63% above its 20-day average of 1,286,260. Normally the stock experiences around 75 individual trades per session.
So far, today's volume surge has caused a net rise in NMKT's stock price. At the time of this alert, the stock was trading at $0.333, up $0.010 (+3.10%).
Eleven months ago, the Company's shares closed at $0.600. The price has declined more than 44 percent since then.
Over the last 10 trading session NMKT has traded in a range between $0.268 and $0.329 and is currently trading 48.77% below its 52-week high of $0.650 set on March 07,2005 and 44.78% above its 52-week low of $0.230 from November 08,2005.
In the previous 3 sessions, NMKT trading has displayed a positive trend. Closing results have been as follows:
February 27, 2006 --- closed at $0.323 up $0.022 (+7.31%) on 2,772,500 shares
February 24, 2006 --- closed at $0.301 up $0.001 (+0.33%) on 1,279,400 shares
February 23, 2006 --- closed at $0.300 up $0.027 (+9.89%) on 3,238,400 shares
The Company last released news on February 28, 2006 (today):
"NewMarket Technology Inc. Announces New Board of Director Member, Hugh G. Robinson, Former Chairman of Federal Reserve Bank of Dallas and U.S. Army Major General (Ret.)"
NEWMARKET TECHNOLOGY INC
NewMarket Technology Inc is in the business of developing market entry technology products and services into early and mainstream technology products and services. The Company specializes in the integration of emerging communication technologies and the marketing of the services enabled through those technologies.
Public Companies Associated with this story:
NMKT
Knobias Subject Codes Associated with this story:
Technical Analysis VOLUME(+)
Content transmitted by Knobias.com Copyright © 2006
Very well said
Feels like "earth in pieces" is what's happening rather than peace on earth. I don't know if the daily slaughter in the District of Columbia and its environs is worse,better or less than that in Iraq.
I have to wonder if this buyer was aware of the reimbursement reductions contemplated by Medicare for "scanning"???
From The Company
To NMKT shareholders and investors:
We have been receiving a high volume of phone calls on the 44% price increase and 6 times the average trading volume in NMKT stock in the past week. (See chart below). In the interest of updating interested investors and current shareholders, a quick overview of NMKT's recent developments and charts on quarterly revenue, shareholder's equity and asset growth are compiled below.
NewMarket Technology Inc Ranked 2nd in the Texas Deloitte Fast 50 and 13th in the North American Deloitte Fast 500
NewMarket has grown 18,000% over Five Years to $50 Million in Profitable Revenue
2006 Forecast for $57 Million Could be Revised Upward to $87 Million
After Multiple Stock Acquisitions, NewMarket Makes First all Cash Acquisition of Brazilian Tech Firm with $14 million in Annual Profitable Revenue
Acquisition Demonstrates Momentum to Rely on Cash Flow from Operations for Continued Rapid Growth Rather than Issue Stock for Working Capital
NewMarket Begins Campaign to Reduce Fully Diluted Issued and Outstanding
Plans to Substantially Reduce or Eliminate Stock Overhang in 30 Days by Exchanging Preferred Stock Issued in Acquisitions for Securities in NewMarket Subsidiaries
Reduce Fully Diluted Issued and Outstanding to be Disclosed in Annual Report
(Voluntary Disclosure: Position- Long; ST Rating- Strong Buy; LT Rating- Strong Buy)
The overall market tanked today. But NMKT recorded 548 trades involving 4.2 million shares and moved up almost 10%. Quite a performance. Lets keep it up!!@
Appreciate your interest and all I can say is that we here in the USA don't seem to be able to take care of our own problem with our markets so concernb about the impact on world markets seems very remote at this time.
Yes that is a prime example of the incestuous relationship between Wall Street,The DTCC,the SEC, and at times even the DOJ. How can we possibly break these links?
Time to conform to listing standards is getting quite short. Not a word from the company on their recovery plan. However delisting would have a compensating advantage for common shareholders. It would make further dilution virtually impossible. That would be a major change ion this company who has employed that approach for more than 25 years
Those who use this board are aware but I'd suggest that the awareness in the general American investor does not exceed 5%. If it were greater you'd see more in the media than the few scattered articles on this subject we might find.
We Have a Landslide!!!
By Mark Faulk
Feb. 27, 2006
While so-called “journalist” Hang Greenberg of MarketWatch.com whines about freedom of the press, saying in his column last week, “And to think I was foolish enough to believe I lived in America and there were these things called the First Amendment and freedom of the press,” voters in a CNBC poll today on the Kudlow and Company Show sang a different tune, voting that the SEC did not overstep it’s authority in issuing subpoenas to Greenberg and Dow Jones reporter Carol Remond to force them to turn over documents pertaining to a lawsuit filed by Overstock.com and its CEO Patrick Byrne alleging stock manipulation.
CNBC’s Larry Kudlow seemed stunned by the polls results, ending his show with "Did the SEC overstep their authority by issuing subpoenas to reporters? And the answer is: They did NOT overstep their authority, 80% to 20%. Isn't THAT interesting?”
I hate to tell Mr. Kudlow this, but the jig is up. America is finally realizing that they’ve been had, and that Remond and Geeenberg are no more unbiased reporters than the hacks that the Bush Administration paid to hawk their programs to an unsuspecting public. In this writer’s opinion, they are about as credible as Jeff Gannon, the White House “journalist” (damn, that word is really taking a beating here, isn’t it?) who turned out to be a $200-an-hour “gay escort” who was planted by the White House to lob softballs at the President during press conferences.
Let’s give Greenberg and Remond the benefit of the doubt, and say that they are journalists….I’m sorry, I could barely get that out with a straight face. Whew, give me a second to regroup here.
Okay, I’m fine now. Forget Greenberg and Remond, they’re hacks, and in the end, they will be exposed for what they really are….and what they obviously aren’t, which is unbiased, independent journalists.
To read the rest of this story, go to: http://www.faulkingtruth.com/Articles/
This bilking of the small American investor has been ongoing now for more than 25 years. How much longer do you think it shall be until it is stopped???
NMKT: Eliminating Overhang
NewMarket Technology Inc (NMKT) is in the business of developing market entry technology products and services into early and mainstream technology products and services. The Company specializes in the
integration of emerging communication technologies and the marketing of the services enabled through those technologies. NMKT recently announced executing an agreement to acquire UniOne in Sao Paulo, Brazil with $14 million in profitable 2005 revenue. NewMarket had previously disclosed the planned acquisition, announcing UniOne's annual sales at approximately $11 million based on UniOne reporting $11 million in audited 2004 revenue, though UniOne has recently reported approximately a 25% increase to $14 million in profitable revenue through December 2005 (un-audited).
"This is a watershed event for New Market. Companies become public entities to raise capital, it is often the CEO's job to crate momentum and reduce overhang. This marks a turning point for us," noted CEO/Chaiman Phil Verges on the acquisition, "We intend to substantially reduce or eliminate all of our prefered debt within 30 days and we will disclose this in our upcoming annual report."
Recent volume in the stock could be indicating a technical turn to the upside, potentially reversing the slide that began in November 2004, which caused a retest of the alltime lows for NMKT. Important upside resistance for the stock looks to be in the $0.40 level. A close above this area and technicians will stand up and watch.
Regards,
Steve Kanaval
Director of Research
Knobias Inc
KNBS.OTC.BB
Ridgeland,MS
601-791-0032.w
KanavalX-AOLIM
Read these. Like me you'll get sick to your stomach!
Two new articles from The Faulking Truth:
The Circle of Greed: Who Wants to be a Congressman?
by Mark Faulk
Feb. 26, 2006
Call it what you want. Naked short selling. StockGate. Fail to delivers. Stock counterfeiting. Financial terrorism. By any other name, it’s still the same thing. Fraud. Millions of Americans being robbed by hedge funds and multi-millionaires utilizing loopholes built into our stock market system.
This is no longer news. No one in Congress can claim plausible deniability, no one in the SEC can say that is doesn’t exist. The White House, and even President Bush himself, can on longer claim ignorance when it comes to the financial raping of our country that has driven thousands of young companies into bankruptcy and ruin, the same companies that our economy depends on to provide the jobs of the future, the same companies that we depend on to keep our workers and our money right here in America. Even the media, who, controlled by the brokerage firms, investment banking companies, and New York Stock Exchange representatives who sit on their Boards of Directors, until recently has either turned a blind eye to this massive scandal or actually seemed to side with the criminals, has begun to realize that this is an issue that, to borrow a line from Dylan Thomas, will “not go quietly into that good night”.
How long have our country’s elected officials known about stock counterfeiting, how long have they turned a blind eye while countless retirement accounts, college funds, and small businesses have been bled dry by an industry that seems to care only about its own, and by “its own” I don’t mean the millions of investors who they are pledged to protect and represent, I mean the chosen few who have a large enough net worth to buy influence and control, and the industry itself, who profits to the tune of billions of dollars a year from buying and selling shares of stock that don’t exist?
Advocates of stock market reform have been “lobbying”, in their own small way, the SEC and Congress for years. They have been prodding and poking at the media to do the right thing and expose this story to a larger audience. They have watched as both our elected leaders and our media has succumbed to pressure from special interest groups, and done nothing while our country suffers. I know for a fact that articles from The Faulking Truth and other publications were sent to every member of Congress on a regular basis as far back as 2004.
Read the rest of this article at:
http://www.faulkingtruth.com/Articles/Investing101/1052.html
How can shareholders stand up for their rights?
by Kevin West
Feb. 26, 2006
“If Eagletech was simply a shareholder, it could argue the property rights of a shareholder”.
Thank you Rodney Young! Thank you for standing up for the rights of companies and their shareholders against the market manipulation being carried out by unscrupulous thieves and apparently sanctioned by members of our Senate that have been hired and trusted by the people of America to safeguard our markets.
Why is obvious counterfeiting of securities in our markets being allowed to happen under the watchful eyes of our Senate Banking Committee who is responsible for the oversight of regulation in our markets? Why is the Congress, the Senate and the White House not taking action on this crime that is now quickly becoming a news event? We will tell you why in a moment. But first, let's take a minute to examine what is happening today.
On Monday, February 13, 2006, Rodney Young was given the opportunity to participate in an oral argument on the petition of Eagletech Communications, Inc. of the initial decision of Administrative Law Judge William Kelly to revoke all classes of Eagletech securities. Commissioners present at the hearing were Cynthia A. Glassman, Paul S. Atkins, Roel C. Campos, and Annette L. Nazareth. (complete transcript of the hearing available at http://www.investigatethesec.com/ET20060215.pdf )
Representing the SEC in this hearing was Anthony T. Byrne. We would like to thank Mr. Byrne for making the following statement: “If Eagletech was simply a shareholder, it could argue the property rights of a shareholder”.
What are property rights of a shareholder? They are the rights of that shareholder to be able to obtain true value and physical possession of the property that they paid for. What is physical possession of property? Holding a paper stock certificate representing each share of stock you purchased.
Read the rest of this article at:
http://www.faulkingtruth.com/Articles/CommentaryToo/1054.html
I'd prefer that he concentrate on the business and not on e-mails. PR firm can be the screener and only those complaints that warrant personal attention would get to PV.
Here's the link to UniOne
http://www.unione.com.br/eng/
You possibly have two options. Add Spaninsh/English translation to your PC or get a Spanish speaking friend to help. Would be interested in result you might get.
NewMarket Technology Inc. Expands into Brazil with Acquisition of Technology Services Firm Reporting $14 Million in Profitable 2005 Revenue
Thursday February 23, 9:15 am ET
NewMarket Focused on Revolutionizing Hi Tech R&D Globally with Plans for $25 Million in Revenue from Operations in Latin America and $28 Million from China
DALLAS--(BUSINESS WIRE)--Feb. 23, 2006--NewMarket Technology Inc. (OTCBB:NMKT - News) today announced executing an agreement to acquire UniOne in Sao Paulo, Brazil with $14 million in profitable 2005 revenue. NewMarket had previously disclosed the planned acquisition announcing UniOne's annual sales at approximately $11 million based on UniOne reporting $11 million in audited 2004 revenue. UniOne has recently reported approximately a 25% increase to $14 million in profitable revenue through December 2005 (UN-audited)
The acquisition is an all cash transaction to be paid over the next four years with the final payment amount dependent upon future financial performance. No stock has been issued for this transaction and no future issuance of stock is anticipated.
NewMarket has recently released plans for $25 million in revenue in 2006 from its operations in Latin America based on corporate events not yet consummated. The execution of the UniOne acquisition agreement and Union's surprise $3 million revenue growth in 2005 will likely result in an upward revision of New Market's overall 2006 forecast after the close of the Q1'06 quarterly report.
This acquisition is by far the best NMKT has negotiated. No stock was involved. Its past financial performance is certainly better than any of the company's previous acquisitions. I think this clearly demonstrates that the company has reached a critical mass and can continue its rapid growth without continuing to issue stock and thereby dilute shareholder's equity positions.