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http://www.cnbc.com/id/41691925
We will just have to sit tight. That's all we can do.
CNBC: Excerpt from CNBC article:
"Keith Harris, chief executive of Seymour Pierce, may look to resuscitate Gerova's role as part of a three-way merger if he can resolve some of the issues affecting the re-insurer, the Mail on Sunday said."
Seymour Pierce to end merger talks with Gerova - report
Published: Sunday, 20 Feb 2011 | 11:42 AM ET Text Size
LONDON, Feb 20 (Reuters) - Investment bank Seymour Pierce is expected to end merger talks with Bermudan re-insurer Gerova Financial in the next few days and pursue a merger with Ticonderoga Securities, the Mail on Sunday reported, citing no sources. Reuters reported in December that the London-based stockbroker was being bought by New York-listed Gerova in a reverse takeover deal that would see little-known Gerova taking Seymour Pierce's name. Under that original deal, Gerova also agreed to buy New York-based institutional broker-dealer Ticonderoga Securities, founded by ex-Collins Stewart executives Joel Plasco and Shawn McLoughlin. Speculation has grown that the merger between Seymour Pierce and Gerova could be in doubt as shares in the re-insurer have slumped almost 80 percent so far this year. Gerova said in January it had engaged Kroll, an intelligence and risk analysis firm, to probe possible market manipulation and collusion aimed at driving down its stock price. Since then, Gerova's chief executive, chairman and four board directors have all resigned, and its replacement as chairman withdrew after he and the company were unable to agree terms. Keith Harris, chief executive of Seymour Pierce, may look to resuscitate Gerova's role as part of a three-way merger if he can resolve some of the issues affecting the re-insurer, the Mail on Sunday said. Seymour Pierce could not be reached for comment. (Reporting by Julie Crust; editing by Sophie Walker) Keywords: SEYMOURPIERCE GEROVA/ (julie.crust@thomsonreuters.com; +44 207 542 3847) COPYRIGHT Copyright Thomson Reuters 2011. All rights reserved.
The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
http://www.cnbc.com/id/41691925
CNBC: Excerpt from CNBC article:
"Keith Harris, chief executive of Seymour Pierce, may look to resuscitate Gerova's role as part of a three-way merger if he can resolve some of the issues affecting the re-insurer, the Mail on Sunday said."
Seymour Pierce to end merger talks with Gerova - report
Published: Sunday, 20 Feb 2011 | 11:42 AM ET Text Size
LONDON, Feb 20 (Reuters) - Investment bank Seymour Pierce is expected to end merger talks with Bermudan re-insurer Gerova Financial in the next few days and pursue a merger with Ticonderoga Securities, the Mail on Sunday reported, citing no sources. Reuters reported in December that the London-based stockbroker was being bought by New York-listed Gerova in a reverse takeover deal that would see little-known Gerova taking Seymour Pierce's name. Under that original deal, Gerova also agreed to buy New York-based institutional broker-dealer Ticonderoga Securities, founded by ex-Collins Stewart executives Joel Plasco and Shawn McLoughlin. Speculation has grown that the merger between Seymour Pierce and Gerova could be in doubt as shares in the re-insurer have slumped almost 80 percent so far this year. Gerova said in January it had engaged Kroll, an intelligence and risk analysis firm, to probe possible market manipulation and collusion aimed at driving down its stock price. Since then, Gerova's chief executive, chairman and four board directors have all resigned, and its replacement as chairman withdrew after he and the company were unable to agree terms. Keith Harris, chief executive of Seymour Pierce, may look to resuscitate Gerova's role as part of a three-way merger if he can resolve some of the issues affecting the re-insurer, the Mail on Sunday said. Seymour Pierce could not be reached for comment. (Reporting by Julie Crust; editing by Sophie Walker) Keywords: SEYMOURPIERCE GEROVA/ (julie.crust@thomsonreuters.com; +44 207 542 3847) COPYRIGHT Copyright Thomson Reuters 2011. All rights reserved.
The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Weinberg takes ONE little statement by Mr. Hlavsa re FNDM's financial report out of context and uses it to his advantage, and makes no mention at all of Mr. Webster or Mr. Hamman in his reference to FNDM. I am inclined to not even read any more of the news coverage of this, beyond the company's own news releases.
I am certian that a lot is going on behind the scenes, and truth be told, maybe more Gerova housecleaning needs to be done.I suppose that it is possible that all of this will, end the end, be for the best as far as FNDM is concerned. I just keep feeling that all will be well. The darkest hour preceeds the dawn, yes?
yes, and
I am getting tired of Neil Weinberg's gloating articles. Could he have mentioned advisors shares and weston and the other positive aspects of fndm, including fndm's management, in today's aritcle? yes. Did he? of course not
LOL Isn't that the truth! Beginning to get a bit silly here. The negative factors with this company are next to non-existent, and the other company being discussed has reorganized their board and management so as to break ties with negative influences. This negative stance on the part of fndm sellers and possibly shorters seems more recreational than any thing else.
I hold both fndm and gfc, and I'm concerned. I see Neil is still at it.
I think we are seeing light at the end of the tunnel!!!:) :)
Damage control taking place, major damage control it looks like, and when we factor in the possible findings by Kroll, I would not want to be someone who has been shorting either company right now.
With these steps, and depending on the findings of Kroll, we could very soon see a significant need on the part of some for short covering, yes?
From the NR just posted: “Pending Mr. Pelino's acceptance as Chairman and President, Gerova is being managed by Michael Hlavsa, Chief Financial Officer and the board of directors.”
… this of course does not excuse fund.com for a total lack of communication with its investors, but it does throw light on how busy fndm’s CFO, Mr. Hlavsa has been, not only with fndm, but this company, as well.
thanks for posting that NR, up2tee.
So glad to see damage control beginning.
Thanks for posting this, up2tee. Very glad to see it.
LOLOL - that took talent!!!
I like your alias, "Buy-ITMTF", lol! :)
Definitely long here.
We are all weary of waiting, but lets try to be be patient just a bit longer. Surely our day is coming...
Very interesting to read
the actual legal document. Thanks Inopsy. I’ve been reading the Jan. 26, 27 news reports that have come out on this. Some have been bias in their reporting, particularly with the Jan. 26 Business Wire but they seemed to level out a bit the next day. Seeking Alpha ran the article that was less opinionated.
(cannot get links to work)
you called it right
Glad to hear that was the case!!! :):):)
Welcome back!!!
now be nice
you're going to feel awfully bad when this thing goes and you've been saying such dreadful things about people
Meteoric run up. It is.3531 now.
Still going up. I've never, in my life, seen anything like this
Lololololol - ohhh, Ondariis, what on earth did you do?
Get the champaign on ice, Everybody!!!:) :)
Oh, yes, very well said.
it is just easier for me to think days and let them run into weeks - but you are so correct. We, none of us, know when - or if anything - will happen and do not want to appear to be pumping, there could be a Darydmple enemy watching our board, as well.
Speaking of the board - I, too, want to know - Ondariis: where on earth are you?
Yes - very much looking forward to, and let’s hope in days to come, not weeks!! - and not even days plural, let us think “day” – let us think one more day and it will eventually be reflected in our experience, yes?
If anything is going to transpire (and it is all speculation on our part) all we can do is wait. About 10 days ago Mr. Hlavsa told us that over the past few months fndm management had been engaged in a Hurculean work effort and had a bit more work before them, but that in the weeks to come he hoped that investors would be happy. He explained again that because of SEC rules, he could not/cannot comment on anything in any degree at the present.
I think the wait - whether it is another day ***queue “One Day More” Les Mis*** or one or more weeks – will be worth it whatever transpires. We have a great team and great assets. I’m at peace about this company and stock and don’t even give it much thought any more. I do enjoy the entertainment of this board, though.
.1955 and holding!! Doubled in a day!!
All hail Mr. Millions and his The Traders Digest website.
INTERTAINMENT'S ORTSBO OUTPACES FACEBOOK GROWTH IN ITS FIRST 6 MONTHS
NEW YORK / SAN MATEO / TORONTO – January 27, 2011 – Intertainment Media Inc. ("Intertainment" or the "Company") (TSXV:INT) announces that the growth of its social media, real time, translation platform, Ortsbo.com, continues to outpace the first year growth of Facebook. On a weekly basis with over 1.1 Million unique users, 1.5 Million online sessions and almost 6 million minutes of user engagement, Ortsbo continues to accelerate its marketing initiatives with viral results. Language and communication barriers continue to erode as Ortsbo users are spending up to 15 minutes per session using Ortsbo’s instant translation services chatting with friends, families and colleagues in real time in over 50 languages.
In the article Facebook: Facts & Figures 2010 published by digitalbuzzblog.com, by the end of its first year, 2004, Facebook had 1 Million users. By comparison, after 6 month of operations, December 2010, Ortsbo already has over 2.1 Million active users on a monthly basis, and currently tracking at over 1.1 Million per week, well on its way to Facebook’s 2005 second year results of 5.5 Million active users.
The following chart provides a visual representation of the growth of Ortsbo versus Facebook in the first year.
Today, over 60 Million more people speak Chinese and Spanish than all English speakers globally, according to Internet World Stats.
“With Facebook still not actively available in China, Ortsbo has moved quickly to connect its multi-lingual, real time translation platform to all leading social media global platforms including China’s Tencent QQ and QQ International. This has provided Ortsbo with a significant opportunity to take advantage of the growing Internet population in the region and accelerate its growth,” said David Lucatch, President, Ortsbo Inc. / CEO, Intertainment Media Inc.
Mashable.com reported on November 15, 2010 that “All signs point toward an increasingly multilingual future for the web. It’s estimated that over a billion people will be using PCs in the so-called BRIC (Brazil, Russia, India, and China) countries alone by 2015, and the opportunity is even greater when you factor more people accessing the web using mobile devices than computers in many emerging markets. It’s time businesses of all sizes embraced the foreign language Internet.”
In the article, writer Christian Arno, founder of Lingo24, continues by stating, “In the last ten years, the use of Arabic online has increased by over 2500%, while Chinese and Spanish rose twelve and seven-fold respectively. And English? It didn’t even triple.”
Arno goes on to say, “Today, 42% of all Internet users are in Asia, while almost a quarter are in Europe and just over 10% are in Latin America. These stats shouldn’t sway businesses towards targeting one region over another, though — Latin American countries account for over 200 million people on the web.”
According to ComScore, Latin American tweets are up over 300% between June 2009 and June 2010, followed by 243% in the Asia Pacific region, 142% in the Middle East and Africa, and 106% in Europe. By comparison, North America only increased by 22%.
In his January 15, 2011 Globe and Mail article, SURFIN' IN TONGUES, Steve Brearton reports that nearly one-third of Internet usage currently occurs in English. But within five years, Chinese is expected to surpass English as the most-used language on the Web
Ortsbo’s real time multi-session, multi-platform and multi-lingual application connects to PC and Mac computers, mobile devices as well as all major search engine chat platforms including Microsoft, Google and Yahoo! along with Facebook, iChat, AIM, ICQ, Gadu-Gadu, Ovi, Lotus Sametime, LiveJournal and Tencent QQ and QQ International, China’s largest chat platforms and Twitter. Ortsbo instantly provides real time translation capabilities to well over 1 billion active chat accounts in over 170 Countries / Territories.
To become a Facebook Fan of Ortsbo, sign up at www.facebook.com/ortsbo
Follow Ortsbo on Twitter
To review Ortsbo’s weekly performance metrics and the Company’s corporate blog, please visit www.intertainmentmedia.com/blog
About Ortsbo: www.ortsbo.com
Ortsbo (www.ortsbo.com) enables real-time conversational translation in over 50 languages and seamlessly integrates with today's most popular social media platforms.
Ortsbo Inc. is a division of Intertainment Media Inc., a Rich Media Applications leader, focused on delivering leading edge technology and marketing solutions enabling clients to power enhanced branding, loyalty initiatives and consumer engagement. Selected as a Microsoft Global Agency Initiative partner, Intertainment has joined an elite group of interactive agencies worldwide that Microsoft recommends to its Partners and Customers.
Intertainment Media owns and operates a number of key properties including Ad Taffy, itiBiti, Ortsbo and Magnum.
Headquartered in the Toronto, Canada region, with offices in New York, Los Angeles and San Mateo, CA, Intertainment Media Inc. is listed on the Toronto Venture Exchange under the symbol “INT” (TSXV:INT).
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain certain forward-looking information. All statements included herein, other than statements of historical fact, is forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in the company's disclosure documents on the SEDAR website at www.sedar.com. The company does not undertake to update any forward-looking information except in accordance with applicable securities laws.
This release may contain forward looking statements within the meaning of the "safe harbor" provisions of US laws. These statements are based on management's current expectations and beliefs and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward looking statements. Intertainment Media Inc. does not assume any obligation to update any forward looking information contained in this news release.
Contact:
For Ortsbo / Intertainment Media Inc.:
David Lucatch, CEO
800-395-9943
info@intertainmentmedia.com
www.ortsbo.com
www.intertainmentmedia.com
World Market Media
Editor’s Desk
+1 877 801 8408 Ext. 307
editor@worldmarketmedia.com
www.worldmarketmedia.com
Public Relations / Media Inquiries:
SS | PR
Steve Simon
+1 847-415-9347
ssimon@sspr.com
www.sspr.com
Great call, Mr. Millions! I learned of ITMTF from The Traders Digest, http://thetradersdigest.blogspot.com/ Great info there, folks.
Incredible story unfolding here!!!!!
Up over 86% from yesterday!! I am beyond ecstatic!!!:):):)
Re “solid weekend all!!!”...
And to you!!:):) Cheers!!!
dpietro1. I just checked the fund.com website and it no longer lists or references the number I have, so I don’t feel at liberty to give it out without permission. In past months, the number was available to all of us per a recorded voice message on the company’s main phone number which was, at the time, posted on the website. Welcome to this board, though!Someone else may feel comfortable giving the number out. Hopefully, soon a new number/numbers will be posted on fund.com.
Let’s do listen to Inopsy’s advise... :) :) Nerves are understandably frayed and probably more than we all realize, but in the end, we really are all in this together and I dare say we will not soon forget this whole long odyssey, lol, or each other!! Let’s keep the memories fond. :):)
Ondariis, Have you called IR as well? I’ve called on occasion and do not understand why my calls are answered and others are not. Yes I do. I don’t understand enough of the language and machinations of corporate governance to be able to ask pertinent questions and he knows that and so answers my calls, sometimes on the first ring. Lol.
My calls have only been prompted by a desire to get a sense of when That Which is Rumored might take place because there have been other investments I wanted to be a part of and needed a feel for timing. My last two calls, however, were right after the IHub posting of the Weinberg article and I asked if Gerova planned to take legal action or at least print a rebuttal. He of course, did not tell me about Kroll or what their plan for action would be.
What I did get is the following: his attitude towards Darydmple seemed to be that he considered him little more than a gnat - an annoyance, a bothersome, small flying insect no larger than a pin point that comes out and flies about one’s face in the heat of the southern summers where I live. As Mr. Millions said, the shorts are feeling the heat and are gearing into panic mode, that’s all. It had been around 8PM that evening when Mr. Hlavsa returned my call. He sounded very tired but upbeat, and said that they’ve been engaged in a herculean amount of intense work over the past few months and still had some work before them, but that stock holders should be happy in the weeks to come. Their focus, he said, has not been on the fund.com website you mention, Ondariis. He did not know when they would be ready for a press release, and he said he could not tell me if he did know.
Yep, agendas abound with that trade, lol. And re Gerova, I hardly think they would be going to the expense of hiring Kroll if there was even an iota of truth to Darylmple’s allegations against them or Weinberg’s reflected innuendo, for Kroll’s report would expose that, too.
Weinberg just posted the Gerova news release re Knoll
11:01 am on 01/18/11
Neil Weinberg
Investor Advocate
Readers who are following my posts on Gerova Financial should take a look at the company’s latest press release (link below). When I contacted Gerova’s PR firm about the Dalrymple report discussed in the press release, the company did not respond.
http://phx.corporate-ir.net/phoenix.zhtml?c=219392&p=irol-newsArticle&ID=1516598&highlight=
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I thought that might have been you - great posts.
Weinberg should be feeling a bit uncomfortable now as well. Perhaps we will see a retraction from him sinced he referenced Darlyrmple. Still shocked that Forbes allowed his comments in the first place.
Although these inflamatory articles date back to at least Oct. of 2009, the companies who have entrusted the management of their etfs to fund.com's Advisor Shares continue to have full faith, with more etfs being added as the weeks and months have gone by in 2010 and now the days in 2011. They are as close to the company as one can get. Certainly more so than a writer or a tipster with an agenda. I am inclined to pay more attention to that fact than to anything else.
Molybucks, thank you – although I am a she, not a sir. You are a credit to this board as well. Thank you for your posts. :)
I read the Daridimple article and the others three times and all of this is so complex and so far over my head I have absolutely nothing I can contribute and so will not post much anymore. I too am beyond stunned that Forbes would publish something like this without any substantiation of fact and with the agenda on the part of the accusers being so apparent.
I am holding onto my FNDM shares. The substance of this company is in its two subs and they are unarguably inviolate regardless of any cross affiliation between fund.com and other companies and the innuendo these articles try to draw from it.
Thank you in advance, Mr. Millions, for bringing fund.com to the attention of those of us on the other web site I posted on. I am confident that it will in the end be rewarding, as the other investments you recommended to me have been. Thank you, Ondariis, for your gallant post letting the other guys know there were “sensitive feminine ears” present. I made shipwreck of my response to you by saying “not to worry”. On the contrary, I do shock easily so please know it was appreciated!!
This is a very intelligent board and I thank you all for your posts. I’ve learned a lot. Much appreciation and best regards to you all.
Not to worry, Ondariis,
nothing shocks me anymore!!!:):) I consider you all gentlemen.
You know, you could run your
life from one of these things. This is so cool.
I needed one now so
I signed two years of my life over to ATT this afternoon and got an iphone for a discounted price. Guests have gone to bed so I am playing with it.
You’re right, the vibe is changing.
I can feel it too. I don’t want to even leave the computer for the rest of the week and I have house guests arriving at 2 PM! Need a smart phone to keep tabs on things while we're with them!!