having fun at the pumper's expense!!!!
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More Coastie DD.........Another D & O Insurer Backing Out. . .
This came out in a new filing by Huff's defense where he is requesting his $200K bond be returned to help cover his defense costs.
"However, as a result of Mr. Huff’s change of plea to guilty on April 6, 2010, CCIC has refused to pay the outstanding legal fees and future legal and expert witness fees. CCIC has not paid any legal fees since January 2010 and is seeking reimbursement for any fees paid under the policy to date."
"Accordingly, Mr. Huff now seeks to release the cash bond to defray these fees and to allow Mr. Huff to prepare for his upcoming sentencing. The government opposes this motion, claiming that they seek to seize the cash bond for restitution in the case."
Insurer: Carolina Casualty Insurance Company
INSURED: GLOBETEL COMMUNICATIONS CORP.
Policy: Directors and Officers Liability Insurance
Limit of Liability: $5 million
Policy Number: 1694226/1
"Mr. Huff's Plea Agreement admitting conspiracy to commit securities fraud implicates the Fraud Exclusion in Carolina's Policy."
"Carolina denies coverage for Mr. Huff pursuant to the Fraud Exclusion in light of his Plea Agreement in the Criminal Case. Moreover, Carolina's denial of coverage extends to the SEC's related Civil Case. . ."
"Carolina further demands that Mr. Huff reimburse all legal fees and costs paid by Carolina on Huff's behalf in defense of the Civil Case and the Criminal Case."
What little coverage left from the Admiral policy after the Class Action should be long gone by now. The Chubb Group is currently in court with the Company over the D & O coverage they provided. Now the policy provider that is covering the current costs of the civil and criminal trials is backing out and is seeking to be reimbursed.
It looks like Powers sits on a lot of OTCBB companies. What a great job it must be.....Lend your name and collect shares!!!
Do you think MDGC has the money to send out a PR thru the media or do we have to wait till they unload more shares to be able to do it? LOL........Question for ya, do the even have revenues?
Is there anyone in this stock today who's not a serial basher who has a different take on this? Well GS,that may be a hard task. They have burned a lot of people over the years so to find just 1 person who can give you an honest take on this without being a long or short is going to be a problem. Even an outsider who would honestly do DD would have a major problem recommending this.
Well if you feel that this company is going to blaze new trails,why wait and buy at the ask? Get all your buddys to buy at the ask !!!LMAO!!!
Well that is amusing? Pent up demand? LMAO Why has the SP not taken off with all that buying pressure? Another post with no facts to back it up. My facts are look at the SP. It has gone down considerably from it's high. No buying pressure at all.
There are other's selling as much as they can!!
Can you name a few? I think that Sanswire had no chance to settle at all with the SEC. SEC wants them gone and shares revoked!! Wishful thinking if you think this issue survives!!!
IF one were to put in a buy of 500K at .07, it will take several days to get it. If at all.........Are you kidding? The MM would snap at that price all day long in seconds!!! In fact they probably do .05 in seconds time!! That is the most UNBELIEVEABLE statement made here in a very long time!!!
Warp,the proof you are seeking never happens till they are forced to report it.They are always late with filing those documents.It's not like they never done it before.
Pagan,I would also like to add that Dr K design sure looks like patent infringement.When I look at that so-called airship then open the foil wrapper.........It looks the same!
Pagan,as we both know.........that segmented condom looking design is not the intellectual property of Sanswire.........It's Dr K's and as far as the world knows,has not sold one to any company for use. As it stands,it's a science project that Dr k and the university kids came up with. Sanswire has the rights to sell it.........in certain countries. If Sanswire and Dr K were smart,they would shrink it's design so they can sell it to the makers of Trojan. They just might get a contract from them!!!!
yes, SNSR is a IRS lien,SEC investigated fraud of a reporting company with patented technology unique to no one. The design team is headed by Dr. K- another scammy individual who lost 300 million euro that no one can find. It would be a stretch that he is a leader in aeronautical research in the world. IMO
You have been invested since 2005? It must be hard on the eyes to look at your portfolio since you must have bought Sanswire at higher prices. How could you advise friends and family to invest in such a scam as this? Since 2005,what makes you believe that they have a future in UAV? The company's future is not in their hands.........it's in the SEC's hands.
I wonder who paid the shipping costs to send the "Junk in the Trunk" back to the U.S.A.? It couldn't have been Sanswire,they only have 4,000 in the bank and no credit.Why anyone would pay such an obscene amount for something that has been lying in a trunk for years is mind boggling. What I'm really waiting for is to see the money for this contract reported on the next financial statement. Plus to see how many more shares they gave to GTC. I smell a rat.
Old company,old strategy,old ideas Globetel=Sanswire=Scammy company. Meet the new boss,same as the old boss!!!! The "Junk in the Trunk" show coming to airfield near you!!!
WildWest,now might be a good time to sell before it gets any lower!!! Someday the SEC might delist it's shares!!!
LOL.......I don't own a share..........Yet!
The bottom is around .22 cents........Check the filed documents. At .22 I'm buying!!
What difference will that make? The company fundamentals will not allow for growth of SP till they get the debt under control,R/S or not.My bet is it will nose dive after R/S.
That's not true dude. If you haven't noticed,YRCW is a penny stock that has been diluted like mad. Today's action speaks volumes of the direction of this stock. High volume and continuous dumping of shares. This is still going lower.
You paint a rosy picture of a R/S. Maybe 2 out of a 100 companies who do it.......the SP will stay or go higher. The other 98 percent almost always go down. Choose your poison.
Isnt this stuff 4 and 5 years old?? .......Well,if you are selling the "JUNK in the TRUNK" that is around 4 or 5 years old, it sure is !!!!! The past will always lead to the future with this company!!!!
Hey,when is that R/S going to happen? I heard real soon.....This is dropping everyday!
Cool,I was watching the video of that when it first came out and started to feel a stabbing pain in my gut. I knew right there and then that this was a scam of major proportions.I sold my shares except 50,so I could remind myself to never trust a penny stock. I really thought that they had something going for it, getting off the OTC and moving to the AMEX. They really fooled lots of folks and institutions. These guys were true cons. Even the one's who are still there are dubious to say the least. I really can't wait for the pump parade that will surely come from the "Junk in the Trunk"
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=50486007......... Thats how I see this coming down the road. What say you?
How has this been working out for ya?.....http://investorshub.advfn.com/boards/read_msg.aspx?message_id=49301127
I guess Sanswire was never really in the lead to 65000 ft and to boot,this company took their name http://news.yahoo.com/s/space/20100524/sc_space/worldslargestairshipinflatedtocreatemonsterstratellite
I think I found the wind tunnel test....... Just having a hard time putting the link on this page.
Mide, I know that you signed up for the special guest pass for the viewing of the lawn mower powered balloon. Did they give you a date for Orlando yet? If not why? Guests must have to plan for such a high quality event!!!!
The famous Sanswire Wind Tunnel Test? Where they put a toy model on a stick and had a couple of floor fans running and I think Bob Jones was pushing it around by a stick? I would love to see that video again..........Can anyone here find it?
Mide, it wouldn't surprise me in the least if later on down the road, that the 1 million dollar contract has some sort of ties to Sanswire giving GTC shares to sell. I could be wrong but time will bare that out. Not like it was never done before?
On the video I posted,did you see the modern propulsion system Sanswire integrated on the "Junk in the Trunk" balloon? I can't tell if it was a Ford or Chevy powered pick-up truck!!!!....LOL
This is what Sanswire sold to GTC........"The junk in the trunk" video........An oldie but goodie!!!
Who has the SEC charged with those crimes?
Well Warp,have you heard..........The company itself!!!!
Did you read some of the responses to that article.....http://www.economist.com/node/16056359/comments .Very informative!!!! LMAO
Yes we know Warp. It's the "junk in the trunk" they sent to Germany,and now it's back. I guess TAO couldn't do anything with such an inferior ballon that not even car dealerships want it!!!!
Can you please provide verification of this contract? It is a material event and should be out on SEC filing. TIA!!! The past IS the present with this company!!!!!! LOL
If you read this article.....http://coloradoenergynews.com/2009/11/western-slope-og-update/ Delta is giving OPON a real good deal for 400 million. Earlier this year, Williams bought a 2,200-acre lease, on private and state land near Newcastle, from Orion Energy for $252 million.
"I understand what it looks like," says GlobeTel's in-house lawyer, Jonathan Leinwand. "It looks like just another little South Florida scam company." [ http://www.browardpalmbeach.com/2007-02-... ]