Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Apparently, from my brief read of tonight's new lawyer letter, that was payment for the convertible shares back from 2006. And probably the explanation for the unending sales of shares at .0002 before the reverse split occurred.....
I assume those shares were covered from the 2006 Regdex. But no argument from me that at least 800 million shares were issued without a Regdex. Always prior to that, share issuance was covered by a Regdex.
Orange, or whoever you are, I always provided links to back up anything I said or used the documented research of others. You on the other hand just angrily insisted you were right and rarely provided a link to anything. The idea that Hilal could issue billions of shares when the stock was at no-bid was preposterous and you knew it.
Dickmo, since the post I was referring to was deleted, I don't think you have the proper perspective about what I was saying in my post.
In regard to your point about wishing bad things on organizations that have caused you some grief, I can't say that anything particularly stands out in my mind with regard to that. There are organizations that I avoid giving my business because of a less than satisfactory customer service experience, but I have generally discovered that if there is a problem, a little persistence and writing a letter or e-mail or two will usually clear up the problem.
But I'd never waste a lot of time being vindictive. I agree that many lawyers are a scourge, but my point is that I would never start disparaging any institution where I had any funds invested or deposited before I relocated my funds. That's just plain common sense. And I suppose a parting shot is permissible, but then it's time to move on with your life. And no one here is even remotely impressed with Mr Hilal's communication skills. That's why his stock has been so undervalued all these years.
But Orange or whoever you are, it isn't ten billion as you stated non-stop for many months.
Go Cetek. Fetter, I am a firm believer that logic eventually wins out, especially where money is concerned. I would submit that is even more true for typical pink sheet stock investors who IMHO opinion, and including myself, are out for a much higher rate of return in a shorter time frame than the general population.
So when you see posters who are ecstatic when their stock price is dropping and happy to post non-stop saying that they knew the CEO was a crook all along, and then are strangely quiet when the stock price goes up, you have to wonder what they're trying to accomplish. I do understand that people say negative things for a lower entry to facilitate flipping a stock. But except for that brief run two months ago, this stock has been almost unflippable for seven years, and you could have bought it at .0001 at anytime during those seven years.
Being happy that your stock is dropping because you get to claim you were right and prove that someone else is "stupid" doesn't quite pass the smell test with me. If I felt the CEO of any company I owned was a complete crook, then I would happily take my loss and move on, and I sure wouldn't hang around 10 years spending substantial parts of my day posting about it. I sure as he!! wouldn't take a total loss to prove I was right and everyone else was wrong. And I think that's true for just about everyone here, unless they are just bored and use $100 bills to light their cigars.
Good morning End2war, and yes, I agree it is very sloppy. No different from the 15c2-11 in 2006 when Hilal reported the same reverse split twice in consecutive years that fooled you. And I would surmise that the sloppiness spills over into the unaudited financials as well.
I was just thinking that since OTC markets has been authorized by Mr Laskowski to rely on the numbers provided in the financials that this should be our first point of attack, should we need to prod Mr Hilal along. I'm not exceptionally happy with Mr Laskowski and his due diligence either.
Dannyd, thanks for your update on your visit to HTI. Time sure flies, as it didn't seem like that much time had passed since your visit.
I agree with your observation and had a good chuckle when I read that line about the 5% share ownership. ShaghaiSteve has the correct answer about the shares being held in street name, but there is a very important point in Laskowski's statement. And that is, that Laskowski is able to make that statement because he is NOT required to explore every nuance of Cetek's share ownership before he can make that professional assertion and NOT be held liable.
Why do I make this point? Because I'm pretty sure if you go back and read the certified accountant that Hilal used, Mr Galuppo's introductory statement, that he is using the same sort of standard in giving his blessing to the accounting records. It's kind of a "hear no evil, see no evil" blessing based on what management has presented to me and publically available records that would typically be accessed, like criminal records. And as we have recently discovered, there is nothing in the public domain that gives any clue as to what Cetek's share ownership or consolidated financial records really are.
Excellent post End2war. I too believe that for the most part the naked shorters back in their heyday before Reg SHO were very good at selecting companies which were headed for oblivion. I take that back...they knew 99.9% of pink sheets would die on the vine and their job was to assist them into oblivion as quickly as possible. I remember one case where there were more naked shorts than outstanding shares in a company, after one guy bought up all the shares, and yet the stock continued to trade the same volumes everyday.
And Reg SHO grandfathered these NS in and couldn't care less whether those naked shorts got covered or get covered, unless the share price should rise from the ashes. Those records are probably buried with Jimmy Hoffa. But like you, I think if Cetek had a serious run to higher ground, then I think the hunt for these characters might get serious. But they are banking on Hilal's continued incompetence at communication to be able to hold Cetek below a threshold which would cause extreme discomfort. But I suspect that with this one million share float, with maybe about half of it totally locked up, there is some serious concern about how quickly this thing could spin out of control for them. All that is IMHO because no one can prove anything, including Orangeman, regarding NS because that's the way the rule made it for the grandfathered NS.
DannyD, I am most perplexed about Ramspace's conversation with Ms Califano on Monday and her report of eight employees at Hybrid-Tek. When you were there, and I think that was earlier this year, were you in a situation where you could see the number of people in the facility?
ShaghaiSteve, you've been somewhat critical of several people who did a lot of the DD on Cetek the last several years, so let's put some perspective back into this.
First of all, I'd be the first to admit that 1.5 million in revenues is at least 70% lower than what I would have expected, based on at least 10-15 credit reporting websites which indicated sales of at least 5-10 million dollars. Of course, I don't think we're completely clear that Hybrid-Tek is included in that reported number. One website had an estimate of 32 to 35 million and one had an upper range of 50 million. There were two websites which showed an estimate of approximately $6.2 million dollars which was down to the hundred dollars. My interpretation was that they had derived the estimate from some local government report. I was wrong. But you have to understand Steve that in the absence of any information for seven years, we had to try to piece the picture together from what we could find on the websites, which were the ones who provided numbers that were not correct. Even Dun and Bradstreet reported around $5 million in combined revenues. They're supposed to be very accurate with huge databases from which to derive their information, but I guess they used the same employment numbers we did...lol
Secondly, if there was one number most of us doing the DD felt pretty confident about, it was the employee number. Hybrid-tek had 12 employees for many years, and recently one of the local websites showed them as having 16 employees. That made sense to me after the glowing reports we received about Hybrid-Tek and reading all the advanced scientific projects they were involved in. How does a pink sheet company with $1.5 million in revenues get contracts with Los Alamos, Cern, and all these universities doing advanced research? Also, Mr Hilal verified to Ramspace that he had 29 employess. The secretary did too, and those numbers weren't at all out of line with the 15c2-11 information from 2006.
So 45 employees, and many of them professionals, and the two hires from 2012 and 2013 for professional managers with salaries up to $150,000. The DD certainly supported sales of 5 to 10 million dollars. Clearly, those employee numbers do not jive at all with 1.5 million in revenues and $628,000 in cash, so something is wrong somewhere.
Third, some predicted that Hilal would never report anything. When I discovered the NY incorporation I went out on a limb and predicted he would report financials by May 1st, and I was correct.
Fourth, Orange predicted that Hilal had diluted all 10 billion shares. I said he hadn't, that I agreed with Ramspace and DrLarzo that the count was 5.2 billion or possibly lower based on research they had done regarding the absence of convertible shares not having been issued. We were all wrong, but 5.2 billion O/S was a heck of a lot better prediction than those who insisted all A/S had been issued.
Fifth, as far as a reverse split, I took Mr Hilal at his word that he wouldn't and was correct for many years. And as a shareholder, I personally am highly agreeable to one as long as it is non-diluting and puts the stock in a position to be listed on a higher exchange. For now, the jury is out on that, although initially it does not appear to be for the purposes of diluting.
Sixth, the DD discovered by Penemy of ITAR compliance certainly seems to portend something big in the way of a contract is afoot. otherwise, why would a company this small go to the huge expense of building a bureaucracy to comply with it? The large number of job offerings also seems to suggest something concrete has been achieved.
Seventh, Mr Hilal did revive the company for $46,800 for a reason and with that kind of out of pocket expense, there was no reason to conclude that revenues were heading steadily downhill since the start of 2007.In other words, there was nothing in any of the DD to suggest that revenues weren't far higher than what was reported in these UNAUDITED reports.
I'm very sorry that the numbers we researched many hours to discover and FAITHFULLY report to each other and to the people like yourself Shanghai who don't do any DD, don't live up to your stringent standards. Maybe if you had taken a few hundred hours, you would have been on top of the situation and able to conclude that revenues were $1.5 million or to figure out how Mr Hilal could come up with such numbers.
But even as low as the revenue numbers seem, just the cash alone supports the current share price. So my contention that the stock price was undervalued stands, and stay tuned for more on that.
StockingUp, that's a great wake-up call. You are so correct about a number of things like the stop sign being gone on OTC markets. Also, I reread the first page of the filing and the accountant did everything but say he really hadn't even read thru the financials and wasn't suggesting they were realistic or not...lol
I think the financials were such a surprise to everyone, including myself, that we didn't do a very good job of reading thru them. Maybe Hilal will clear up some more of the mystery soon.
Hey Orange, no question that you were right that an additional 800 million shares were issued by Mr Hilal without a RegD and apparently at .0001, because after 2007, the stock rarely traded above .0001 for seven years. I was also wrong about the 900 million shares issued as convertible debt in 2007 but never registered, that several of us assumed had not been issued. So I was wrong by a total of 1.7 billion shares.
However, if you want to refer back to your posts, you were almost insisting that Mr Hilal had issued all 10+ billion shares, and according to my numbers, you were 3.1 billion shares wrong or almost twice as wrong as me. While DrLarzo presented a "perfect storm" scenario where there could be as few as 2 billion shares outstanding, it was understood that was a best case scenario, but highly unlikely, and no one was using that share count.
Most of us attempted to be conservative based on input from numerous sources and rejected the 50 million revenue estimate that was out there as well. I often recall thinking that they might not know much more than the shareholders because of Hilal's tight lips. As far as employee counts and revenues, how many websites do you want me to produce supporting the numbers that were presented on this board?
You get the feeling that the same accountant who did Bank America's books and brought into question today whether BAC meets the Federal Reserve minimal capital standards did Cetek's books Dickmo? I'd put those two efforts at about the same level of incompetence.
Good post DannyD. Much as I'd like to take credit for moving Mr Hilal off the pot after seven years of silence and take credit for that magnificent run from no bid to .0006, I really don't think I was the driving force in this. Nor do I think Mr Hilal would be disseminating any, much less false information to the multiple credit reporting groups who so over-stated the revenues...especially since he didn't issue any RegDs.
OK Orange..I stand corrected. I will have to start reading the fine print in your posts. My apologies.
Think of it this way Releasemas, you will never get a post from me where you wonder if the HTI subsidiary is included in the consolidated statement for Cetek Technologies. I will provide the verbiage to tell you what is and what is not included. Admittedly, it takes a few extra words, but it's called clear communication, which doesn't create more questions than it answers.
Orangeman, it is always a pleasure to converse with a guy like you who is so absolutely certain he's right. If you will refer to this post to me, you will see that you made the following statement. In fact you have made it repeatedly... Now you get people bidding .80 for 300 shares and they yell MM playing games there order doesnt show HELLO must be over 1000 to show.
And lo and behold, I look at the current Level II and I see Nite has 146 shares offered at $1.50, Cdel has 100 shares offered at $1.24, CSTI has 100 shares offered at $1.14 and Puma has 500 shares offered at $1.09. Hmmm...doesn't that seem like they're all less than a thousand shares? Do you just make these things up to fit the situation? I think you owe someone an apology, in fact several apologies as you have repeatedly stated this. And it's perfectly Ok if you don't know something to just keep your mouth shut and not pretend that you do.
I don't know Zari..you think after 10 years they would suddenly sell something that seems to give so much satisfaction in complaining about?
There seems to be a combination of disillusionment, wallering in self-pity about being taken by an evil force, but yet a sense of entitlement to a big profit, and weird group think at work here. I sure can't explain it, especially since we're talking about a pink sheet stock which comes with a lot of risk but a lot of potential reward. I got burned too, although admittedly much less, but there's two sensible choices.. Just hang in there with the trade and maybe average down as long as you think there's life in the stock, or sell, take the tax loss, and move on if you don't believe in the CEO or that the stock will recover. It's a new one on me for shareholders over a multi-year period to actively root for their shares to go to zero. To me, that makes about as much sense as that filing over the weekend.
Releasemas, I want to thank you too for donating your hard-earned savings from ten years ago to build this giant behemoth of American industry, so that newer investors can benefit. You seem to be slightly less embittered than some of your disgruntled counterparts of that era, who actively root for the destruction of their remaining share value. That's always a smart thing to do IMHO. I give you about another year before you may become their ringleader.
Hey End2war, that is a very good and very analytical set of questions. I suggest you print that out and send that in a registered letter to 19 Commerce Street Poughkeepsie, NY. It sure would be nice to have someone make some sense out of that report.
Hey, have you noticed that Nite, the rumored NS MM has backed their ask off to 146 shares offered at a dollar fifty? Orangeman, tell them to tighten up that ask a bit. People will be thinking they need shares.
Well..I'm really surprised she was that open with you Ramspace, but that definitely reduces our expectations by about half for Hybrid-Tek. So maybe the new direction with the revival was in response to declining business, although it sure looks like there was improvement between 2012 and 2013.
Well....I guess 1.5 million in revenues is our number for now. Defintely a major disappointment, but plenty of cash on hand with no apparent need for dilution, and hopefully some news of a big contract to justify this recent hiring spree. I still think something isn't right, but it doesn't matter what I think, for sure.
Yes, it is definitely good news that Mr Hilal finally reported something. Now if we can just figure out what language this OTC filing is written in. Dang, I accidentally erased my post, so I'm just going to retype the short version.
For an accountant to sign off on something as unclear as this report is in regard to HTI just stuns me. Unless there's clarification, then I think that might be one of the points of my future attack.
Thanks for all your awesome research Penemy. It's quite possible that with all the research we've been doing that we know far more about what is happening at Cetek then Mr Hilal. The mad scientist may have forgotten he has an HTI subsidiary. So I wouldn't be surprised if we get some adjusted numbers before too long...hopefully a 15c2-11 which the SEC requires to be at least reasonably accurate.
You might want to edit your post there Ramspace. I can see you've been burning the mid-night oil this weekend, as I would expect from you. Sorry I wasn't around to participate in the discussion over the weekend, but then again, I'm not sure I would have to contribute until there's clarification on what's included in the report and what's not.
It's not conceivable to me that Cetek could still be in existence after seven years with revenues that far below what he had achieved in 2006. And the note Cetek owes Mr Hilal is I think just over $5,000. I can't reconcile anything. I would be less surprised if Mr Hilal would have announced he was bankrupt and had zero cash than revenues that low and $628k in the bank.
Good morning Ramspace. Reports of my demise/hiding are greatly exaggerated. Lol I thought this would be a safe weekend away from the board because I wasn"t expecting the world's leading procrastinator to do anything prior to April 30th at the earliest. But as I predicted we did see something by May 1st and hopefully much more to come.
I had an all-day non-stop Saturday and only had a brief look at the Cetek Ihub board early Saturday morning long before Penemy discovered the financials from 2012 and 2013. And then I had out-of-town company all day Sunday and into the early morning. When I checked the Cetek board and saw financial reporting, it did shock me, but no heart issues Penemy, lol, but it took me at least two hours to read thru the mass of posts and try to digest the financial reporting. I am not one to start throwing posts out there until I have some grasp of what new information means. And for the life of me, I am still reluctant to post anything because nothing in those financials makes any sense to me.
I have always hung my basic thesis for Cetek revenues in the range of $10 million on two basic pieces of DD. One is using what I will call a middle range of at least ten credit reporting websites, showing anywhere from $5 million combined revenues to $50 million. The second is on Cetek Technologies and Hybrid-Tek's employment counts. We are almost certain, as confirmed by secretaries, numerous local websites and even Mr Hilal, that Cetek has 29 employees. Hybrid-Tek, which for many years had 12 employees, now has 16 employees. Plus in 2012-2013, two managerial employees were hired with salaries up to $150k per year and with benefits probably totaling $400k. We currently have had eight job offerings in 2014, again confirmed on numerous employment sites.
So it is simply impossible to reconcile $1.5 million in revenues, which is less than the $2 million in revenues reported in a press release in 2006 for HTI by Mr Hilal himself with any of what I consider rock-solid DD. There is no way HTI can be part of this "consolidated" report. And $1.5 million in revenues, combined with $628k in cash can't be reconciled to even Cetek's and Belanger's 29 employees.
And I ask in my most incredulous voice, how can a company lose 33% of its revenue run rate reported in 2006 and have millions of dollars in NOLS for seven years, issue only 800 million shares of dilution at .0001 or $80,000 and still have $628,000 in cash. It simply isn't possible.
Plus, this is not a form 15c2-11 financial report which I was expecting for moving the incorporation from Nevada. There is a lot more detail in that report, so I would assume at this point that more reporting is forthcoming and hopefully it will make more sense than this report.
A few other notes...It is disappointing to see the share count about 1.7 billion shares higher than the 5.2 billion that many of us had theorized. However, this is considerably less than the 10 billion shares that some had insisted Mr Hilal had fully diluted, so not all bad.
The biggest bright spot, as Ramspace and others noted is that Mr Hilal reported over $628,000 in cash which means most of the most of the current 80 cent price is supported by cash, and that's never a bad thing. It also went up $140,000 between 2012 and 2013. This Project X which Penemy found also looks very promising going forward, although I haven't had any time to look into this. But if we're saying Cetek has only $1.5 million in revenues, and Hilal has shelled out $46,800 for the corporate revival and another big chunk for ITAR compliance, with 2013 revenues that tiny, then it makes these expenditures far more significant than we thought. It would be one thing if revenues were 10 million, but at $1.5 million, that is an almost unthinkable amount to spend. So that suggests there has to be a huge revenue booster for Hilal to do this and hire eight new employees.
In general, I would say that the filing has created more questions than answers, and hopefully will be followed up with more extensive and more accurate information. I have to wonder, that like in 2006 when Mr Hilal erroneously reported that Cetek had done a reverse split in 2002 and 2003, when he was being medicated for extreme heart issues, that the same doesn't hold true today.
Like Ramspace mentioned in one of his posts, the thought of a brilliant scientific mind that is so precise with the math and science to produce perfect advanced ceramics could be such a muddle of confusion in any attempt to communicate even the most elementary concepts to the investment world is just mind-blowing to me. The fact that it is not clear whether these numbers include Hybrid-Tek or not just stuns me. What kind of accountant would sign off on something so unclear? My feeling is that it cannot include those revenues. But then it's entirely possible that Mr Hilal is sandbagging the numbers as many speculated he did in 2006. However, at this point I will assume the 2006 numbers were not sandbagged.
One last and new point I would make is that there are a steady stream of tax assessments in the Duchess County Courthouse against Cetek/Mr Hilal by the NY tax assessor's office. They're not huge amounts, but if the large tax loss carryover amounts shown in the report are genuine, why would there be any NY state taxes against the company?
Golfgeb. I hate to even respond to such a sad post, but if you can't be part of a civil decent discusion, then I think your post should be deleted and you should camp out elsewhere. Let me just say to you that I'm glad Mr Hilal took your money to build a great company, so those who decided to stick around and average down and the newer investors can benefit. Thank you embittered Golfgeb. Your contribution to the effort is noted.
Grogger, you too. Thanks bud.
Good Goor, I like to see anybody buying Cetek's shares get as many shares as possible for the amount of money they plan to invest and lock them up until it's a good time to sell them.
This ask slapping when the MMs are determined to beat the price down is playing their game, unless we just have an overwhelming buying spree. And right now, there's no catalyst for that unless you read the DD, which most do not. So it's a game of patience, and let the MMs give you cheap shares. When the catalyst comes, then you let them chase your ask price.
Brezlin...I could see scenarios where some really lofty price targets could be hit, depending on the big shareholders' willingness to lock up the float for a considerable period of time and what kind of revenues and profits Mr Hilal reports.
I know those numbers sound highly far-fetched to many, but I don't think anybody here, including myself, has been in a stock with this low an outstanding share count. And then we know from DannyD's share count that there can't be more than a couple hundred thousand shares available for trading until the stock trades significantly higher. So if we get the right catalyst from a press release or a public filing of a 15c2-11, then there could be some incredible fireworks here.
What some don't realize/acknowledge here is that Cetek's incorporation in New York along with the ITAR Compliance removes the one negative factor in this story...Are you ready? Fayiz Hilal is removed as the negative because he now has to report audited financials. Voila..the mystery which held us back all these years is OVER.
I'm impressed already Goor. Imho just don't exceed your speculative limit here.
I'm also going to suggest that it's highly likely these MMs will throw in a right-before-the-close bid whack, so if you want/need any more shares, you might stick them in at a penny above the existing bid. That's how I got my eight 12 centers on Monday. I think the MMs were hoping we'd buy the dilution argument even though only about a thousand shares had traded at the time.
Thanks Brezlin, I will put it on the watch list. these MJ plays are a little dead right now, but it's retreated enough that it's probably due for a bounce once the Russkies stop badgering the Ukraine. Ugly markets right now. Go Cetek
Why thank-you Pay. Oh, it would get a lot worse than a picket party.
But more and more, as I see the tremendous effort being put into this company from every angle, the extensive hiring, vast expansion of Cetek's foot print on the websites, the involvement of the corporate counsel Laskowski, the size of the reverse split to increase the share price, the incorporation in NY, the revenue estimates, the ITAR compliance, and on and on, it's apparent this company is getting ready for much bigger things.Like I just told Penemy, there is a dramatic expansion of websites on the internet, I'll post some more of these this weekend.
And when you have that much going for you, you'd be crazy not to take advantage of a nice Wall Street multiple or selling the company, depending on his health.
I have noticed that the number of links on the marketing websites have gone up dramatically in the last month. That one link I showed earlier is a website unto itself. A lot of work went into setting that up.
I know we have speculated that there is another manufacturing facility for about a month, and that appears more and more likely with all the advertising being done and looking at the revenue estimates and all the additional employees being hired.
I think it's time to review a few aspects of the CETEK PROCESS, which gets very little attention here, but is at the very core of Cetek's success. From an SEC filing in 2000, here is a blurb that describes the competitive advantage of the Cetek process, and it is HUGE, approximately 40%. Mr Hilal spent over seven years developing the Cetek Process.
General
Introduction
Cetek Technologies, Inc. (the "Company") is engaged in the operation of a contract machine shop and the development of materials as ceramics. The Company has derived substantially all its revenues from contract manufacturing. Nevertheless, its main focus since 1993 has been directed towards the research and development of an improved manufacturing process for advanced ceramics and other materials. The Company has developed a unique formulation and technique (the "Cetek Process"). This process among other things eliminates much of the "machining" currently required to manufacture advanced ceramics and other materials and substantially reduces the cost of manufacturing With its "Process", the Company estimates that the overall cost to manufacture advanced ceramics may be reduced by as much as forty percent. At present, the Company intends to exploit an underutilized market of small and medium-sized orders. The Company is seeking to obtain additional capital to establish full scale production and marketing capabilities. The Company based on numerous tests believes the process is commercially feasible but has not produced and sold products utilizing the Cetek process in commercial quantities. The Company's success is dependent upon its ability to obtain additional capital and the commercial acceptance of products manufactured with the Cetek Process.
Back at you Goor and welcome aboard and I have you member marked. I know CBY! had a good recent run, and I hope you're investing from the spoils of that victory.
Yeah Penemy...it was pretty funny to get those 8 shares at 12 cents or .00002 pre-split. That reflected a market cap of about $60,000. That's almost comical.
Speaking of revenues, here's a couple of websites that have Cetek Inc's number of employees correct and the same very precise revenue number, possibly indicating it came from a local government source. These numbers would not include Hybrid-Tek which is estimated at $3.3 million to $5 million in revenues from various sites that have the employee number correct.
http://www.bizfind.us/35/894602/cetek/poughkeepsie.aspx
http://webcache.googleusercontent.com/search?q=cache:ZsdNsM2SKTwJ:www.corpdetails.com/us-companies/New-York/894601-fabricated-metal-products-except-machinery-transport-equipment/cetek-us+&cd=92&hl=en&ct=clnk&gl=us
If you keep up this buying spree Goor, we will have to put you on the major shareholders list. While it is nice to see ask slaps, you're making it very difficult for me to get the rest of that order I got partially filled at 12 cents on Monday. LOLOL But that's OK.
Nice find Ram. Here's a new marketing website for Cetek Technologies. Interesting because it's very detailed and doesn't reference the official company website. Quite a bit of effort put into this one...I guess they wanted it tailored to a very specific audience.
http://webcache.googleusercontent.com/search?q=cache:lDVaCcm0rh8J:www.hellotrade.com/cetek-incorporated/profile.html+&cd=74&hl=en&ct=clnk&gl=us
Pay, in thinking a little more about your post, it caused me to think a little more about Mr Hilal's conversation with DrLarzo a week ago. When DrLarzo asked if he was going to do a press release pertaining to what was happening with the reverse split and the incorporation in NY, his answer was "maybe", which offhand I dismissed as flippant. But maybe not.
As I reported on Tuesday, I contacted several NY corporate attorneys about whether there was a requirement for a 15c2-11 if a company was moving their incorporation from Nevada to New York. The ones I actually spoke with wouldn't or couldn't answer the question and didn't return my phone call...greediest group of attorneys I've ever talked to, and that's saying something. I suspect our resident Orangeman knows the answer to this question, since he knows every detail of every regulation ever written, but he's not talking. But I'm just going to speculate that if Mr Hilal had to file a 15c2-11 to move from Delaware to Nevada, then he almost assuredly has to file the 15c2-11 with financial information for the last three years with this move to New York.
But bottom line, I think you may be right that Hilal doesn't plan to say anything for now. I think he has some required public filings, and to be honest, I'd rather see those financials which require his oath that they fairly represent the state of his company under penalty of perjury, than a press release any day. And so this end of April/early May time frame looks all the more interesting and hopeful for us.
Pay, just to be clear, are you saying you spoke to Cetek's corporate counsel Laskowski in Oregon?
Paytheask, I'm really proud of you for bid-sitting on Cetek. I know it's tough with your nickname. And I'm exactly like you, I would always rather see momentum building and the ask price disappearing when I buy, rather than soaking up someone else's surrender point. I love momentum plays, but when you have market makers who 10 seconds after an ask slap run some trade thru at the bid, then you absolutely have to play their game, as they aren't going to allow any momentum. They appear desperate for shares, no matter what our market expert says... wink wink.
But when everyone eventually owns almost twice as many shares for the amount of money they decided to invest, and the supply gets soaked up, and remember in this case there can't be more than a couple hundred thousands shares available for trading based on our share counts, then the MMs will eventually dance to your tune, assuming no big share dumps by nervous nellies.
Yip StockingUp..that's the voice of wisdom and the right time frame for turning up the heat on Cetek. While it will be painful to watch the MM games until then, we have to at least wait a little longer for a possible timely 15c2-11 filing or press release.
I did discover today that if you point out the MM games to Orange that they will at east temporarily halt the immediate sell at the bid after an ask slap. I guess they don't want to be obvious to everyone. I did notice that on Monday when I tapped the ask for 30 shares at $1.20 to see if the stock was trading that it was only about an hour until I had 8 more shares at 12 cents. That's what I call MAKING A MARKET...LOLOL
Good point Brezlin. There was another key member of the board Spriggs, I believe his first name was Richard, who died I believe in 2007. I heard like third hand that he was very unhappy with Mr Hilal at the time of his death. Mr Spriggs was a key contributor and very distinquished in his career and accomplishments in the ceramics engineering field.
It is just totally inconceivable to me that wealthy professionals like these people are could just be totally removed from their roles as Members of the Cetek Board. I mean these are entrusted positions which have legal requirements to protect the interests of shareholders. It isn't just a title. It has responsibilities, and these guys need to wake out of their fog.