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Let’s summarize the facts here:
1st and second quarter 10-Q reports were not filed. They were due, 10/15/2012 and 2/14/2013 respectively.
The annual report is the 10-K and the end of the fiscal year was 6/30/2012. They have 45 days to file this which was 8/14/2012. They did file form 12b-25 too late on 9/28/2012. Then they stated in my previous posting on this form that they would file the report, but never did.
Three required financial reports have been missed are the facts. Also they lost their auditor at the end of the fiscal year last June. The auditor withdrew their defense of their previous reports and audits. They claim there is a new auditor, but no filings have been done.
This is the NT-10K late form GWBU filed on 9/28/2012. He checked boxes a and b. Box b below says he will file the 10-K. He did not file the annual report as he said he would.
Check out the entire form for yourselves!
I copied this portion from their report and pasted it here.
PART II RULES 12b-25(b) AND (c)
If the subject report could not be filed without unreasonable effort or expense and the registrant seeks relief pursuant to Rule 12b-25(b), the following should be completed. (Check box if appropriate.)
[x]
[a]
The reasons described in reasonable detail in part III of this form could not be eliminated without unreasonable effort or expense.
[x]
The subject annual report, semi-annual report, transition report on Form 10-K, Form 20-F, 11-K or Form N-SAR, or portion thereof, will be filed on or before the fifteenth calendar day following the prescribed due date; or the subject quarterly report or transition report on Form 10-Q, or portion thereof will be filed on or before the fifth calendar day following the prescribed due date; and
I deeply respect Jesuz. I call JOBU to help. I offer him rum and cigars. JOBU will come. You will see.
If you look at the SEC filings, GWBU did not file a 1st quarter 10-Q also. That was due 45 days after 9/30/2012 so 11/14/2012 was the due date. They filed an amended 10-Q on 10/5/2012 for the quarter ending 3/31/2012. They also filed the late form for the 10-K which is NT-10K on 9/28/2012. They also stated they will file the 10-K report on the NT-10K late form (FORM 12b-25). However they never did submit a report. They have not been following the SEC regulations for awhile. If you read the link I left, that makes the situation worse for them with the SEC and NASDAQ. NASDAQ can halt trading at anytime. NASDAQ is the organization that will send the de-listing letter. This is a risky situation to be a MM in. If everyone sells, then the MM owns the stock. Who is he supposed to sell it to? So to minimize risk you keep the price low. It can only go to zero. When he gets a small inventory he runs the price up as we have seen a number of times recently and the herd runs in and buys. Once all the lemonade is sold, he drops the price back down. If everyone panics and sells, NASDAQ most likely halt trading to "maintain a fair orderly market". The investor is between a rock and a hard spot. NASDAQ halts the trading to protect the MM, by the way.
If you read the link it explains GWBU will get a de-listing letter. It seems to say it will happen within 7 days so when that is exactly is not clear, but it may already be 7 days if you read what it says. It will be soon if not already.
Here is one of the links for de-listing. I am not the librarian. Everyone should get their information just like I had to get my own.
De-listing info
I look at the trading pattern and volume. The MM determines the stock price. Right now and over the past week or more there has been a large imbalance of selling. The MM has an inventory of stock to sell. He can only survive if he makes a profit. So he will raise the price and the bag holders will rush in and buy his inventory. Then it will go down. He is not going to risk his money on a stock where he does not get the cooperation of the CEO. I have been watching this pattern for awhile. So the point is it will go up before he takes it much lower with this news to come out. However the last week proved he won't give much opportunity for others to profit as it does not stay up long. Each high is lower. Who is going to want to buy this stock when more people realize the situation with the SEC? Would you buy it now? The volume is drying up. If the MM does not believe in the company he will not push the price up for the long term. This is how all stock prices move. Who do you think is going to buy your stock? You have to wake-up and understand how this all works. So a little blip up in price it what I expect to happnen to allow the MM to unload his inventory profitably and then he reduces his risk in the stock with the SEC situation by taking the price lower than it is today. The MM is on the inside of the stock exchange so he has more info than we have on what is going to be done to GWBU. See the selling coming in now. That is inventory to that he will have to raise the price a little. The herd will be less likely to buy now.
I don't have a plan. I have God's plan.
You can hold this until they close the doors. I will get on the next bus as it will be a winner. I will have taken many profits while you are filling a loss. Never marry a stock. Never try to force it to work. Good luck to you!
The SEC can halt trading pending a hearing. What do you think that will do to the price of the stock? Also there are other companies out there with similar devices. GWBU is not marketing this in a way to capture a large market share. The device is too expensive for automobiles. So 15% savings of the world's fuel is Bull Butter.
"He who sells and runs away, lives to buy another day tra la tra la"- Richard Ney
I read the SEC will issue a de-listing letter in 7 days or maybe 7 days from the last late day allowed last week. It is not guaranteed they will de-list the stock as it says a hearing is required. However they are choosing to go down this path which is risking de-listing. I expect what will happen is volume will dry up making it difficult to sell. It may have a few good days too. The point is it adds significant risk. It is a curve ball that was unexpected. They have been late on just about every report which adds to their situation and never gave an annual report. They publicly announced they have shipped several million dollars of product and I am sure they have more in the works. So there is no excuse of hardship here. They announced their new accounting firm. It is their job to put a report together unless they have not been funded to do it.
Investors with large positions have the problem of liquidity if volume drys up.
This is domestic company. They moved the location of the business office to Italy. However it is incorporated in the State of Texas. They are late and are chosening to F*** with the SEC which is headed down the de-listing path.
No you still own the stock. The problem is there is no easy way to sell it. You would have to find your own buyer or the brokerage firm would have try to find a buyer. Also how would anyone know what it is worth? It is best to read the rules. It is headed for de-listing. You can see in the past they have been late almost every report and filed the special late form and then got the report in. This is all filed on line so it is not difficult. My opinion is the CEO wants to de-list the stock. Many years ago I saw this happen with an aluminum foundry and the CEO got the stock de-listed. Although he was on the American Stock Exchange and got it moved down to the NASDAQ. He was upset with the market maker. I do not remember how it affected the stock price in this transition, but it certainly was not helpful for a long time.
The company clearly has chosen to violate SEC regulations for not filing the 10-Q. It was due on 2/14 and they are allowed to file another form on 2/15 to indicate it is late. They did not do that which would have given them 5 more days maximum to file the 10-Q. In the past they have been late and files the late form so they know the rules.
The penalty is likely to be the stock will be de-listed from trading on the exchange. The first step is they will get a de-listing letter from the SEC. They have to publicly announce receiving the letter. The exchange can also halt trading in the stock and they put an "E" as fifth character after the symbol.
You have to read the rules. It appears the company wants to do de-list the stock. A hearing maybe required. This is not good!
It was due on 2/14. So any day is likely.
This might be the factory. That photo is from 2011 before they moved here.
Factory Photo
The CEO has iced out the MM from inside information which stopped all the run ups since June/July. He made a big point in his one hour Q/A that he does not want to be looked at as a company that is hyping a penny stock. He also said he wanted a new MM such as JPMORGAN.
The MM has no clue what the 10-Q will show!
He could not have answered my engineering questions the way he did. He is not an engineer. He saw the results himself is the only way a non-engineer would have known what to say.
I also could see in the photos the device shown is not a low cost device to manufacture. it is not designed for automotive manufacturing. It looks like a prototype intended for testing. GWBU has spent much effort to get the cost down. I was impressed with the Escalate business model.
The difference in your article and my phone call directly to them, I asked them engineering questions. I got sound engineering answers.
I have worked in engine design for 39 years and I know what the f*** I am doing!
I also was a professional technical stock market analyst with my own business.
You are the only one that seems to need proof and more proof. I got the proof!
GWBU is a real company! Read below for proof.
I called Escalate International who recently became a distributor in North America for the Start Technology device. I spoke with Al McDermitt who is one of the two partners. They are actively getting the devices tested right now with trucking companies with very positive results. I am a mechanical engineer and work in jet engine design. I also know internal combustion engines and their testing well. The truck diesel drivers note they have more power when climbing hills. I would expect more power is realized as fuel efficiency is increased in this manner. Mechanics have noticed the oil is much cleaner when it is brought in to be changed. I would expect oil to be cleaner as pollution is reduced and also the lubricating qualities of the oil should improve. They are focusing more on fuel efficiency right now rather emissions. However tighter emissions will be required in 2014.
These units are leased to the trucking companies as that is the only way they can really make a good business model. Start Technologies is working on getting the manufacturing cost down and it has come down considerably I was told. They also have to maintain the quality so it is reliable.
The Bologna Italy facility has been visited by Escalate and it is more of a make shift facility intended to make a few thousand units. Start is setting up a larger production facility in Slovakia.
Start has made these devices in many sizes to fit down to a lawn mower and up to 8 foot long units for a diesel locomotives.
With the old price shown on the website of #2025, a trucking company with 1000 trucks would have to pay $2,000,000. That is difficult to justify on new technology. The leasing strategy works I was told and is tied to fuel savings.
I had a 30 minute conversation. I can't remember all the details.
The MM will get his ass kicked if you know what is really going on here.
The CEO is going to Pump and Dump the MM with the 10-Q.
In Europe fuel cost is much higher so this device will have a much quicker pay back time. This makes it more attractive in Europe. Then they have tighter emission standards.
I would also add that I am a mechanical engineer who works in jet engine design. If the device was a scam, it would sell for much less since it would not be very sophisticated internally. Their price to Coopsette can be calculated and I think it is around $1300 a unit. Therefore the $2025 is a retail price.
There key would be to get the manufacturing cost down. Then it well sell to individuals as well as commercial fleets.
I also will state that I was a professional stock market technical analyst 30 years ago and I was successful. I sold technical research and wrote all my own software. I trade for my own account today.
It looks like they added a few items to their website recently unless I missed this.
They have several calculators which give the savings and payback period. The device costs $2025 which is why they are targeting fleets. At that price it is not economical for a normal passenger car. I would bet their R&D is targeted to get the cost down as well as improve the device.
They also have more info about emissions and diesel problems. In Europe emissions are tighter.
Some very smart money was buying in here today. Many nervous sellers gave up their opportunity to the smart money. You can't have fear and expect to be successful in the market or anything in life. Fear is the enemy.
A lot of stock being sold by nervous hands which is great. I expect it will go to at least .025 today or even .03. Let them sell as this makes it easier to run up quicker as MM has nice large wholesale inventory.
It is because this company is legit, they don't hype it with PR. They just announced a shipment.
He made the statement in June after the stock was dropped like a rock due to the market maker. He made the statement to help stockholders have confidence. He then scheduled at the same time a question and answer session for stockholders in July. He made it clear he does not want anything to do with the penny stock hypers. He also stated he wanted to get JP Morgan to be the market maker.
He answered all questions well and spoke for one hour. He spoke in Italian and had a woman who translated well.
I have been a professional technical analyst since 1982 and sold technical analysis research to brokerage firms and also published an exclusive advisory letter which gave precise market timing and stock picks. Clients received personal phone calls when to buy and sell. I wrote all the software from scratch. I also managed tax exempt foundation money and small business pension fund money.
I no longer advise anyone as I did not like that aspect as people are idiots when it comes to their decisions with investing. 90% lose money is a published number. I trade for myself. I prefer to design jet engines and sell my proprietary software.
This stock is headed up in my view. That is not a recommendation.
He made a public statement he has no intentions on selling
the ceo owns 51% of the shares.
They give the address of the plant in Italy where they are located. The CEO said in his July 27th question and answer session that they can make 5,000 units a week. They also were looking to create another production facility so they could move the manufacturing out of the current facility so it leaves R&D to have their own facility.
Maybe someone can locate the plant in Italy.
Some ripe lemons have been shaken out of the tree today. It is smart to pick them up and take them home as they are perfect for eating. Otherwise the MM will get them and eat them or sell them at a higher price for a profit.
Higher prices will come soon.
They have released good PR all along.
1. They got the big order with Coopsette that is bank guaranteed for payment.
2. The CEO gave a one hour talk answering everyone's questions on July 26. Also stating they are setting up another manufacturing facility so the facility in Italy is for R&D.
3. They got the patent.
4. They are manufacturing units now.
5. They announced a new director who has the proper marketing background.
6. They set-up North American distribution.
What else do you need?
The order is actually 120MM Euros. They have a bank guarantee to get paid.
I can tell by looking at the chart pattern.
The stock will go up right now. I can see on the chart it is ready.
Watch it to see if I am right!
You did not understand what I wrote previously. The MM does not buy at one price as the positions are very large. You want to buy a stock if the MM is long. Then the MM needs to make the price go up so he can make money. If the MM is not long, I would not buy a stock. If he is short, then I want to short also, but not be long. That would be suicide.
In other words the MM has an investment account in addition to a market making account. I can't make this simpler.
No. It means the MM is investing for himself. He is long so he help make it go up. He is legally allowed to have a personal account in the stock he makes a market in. That is what you want. If it is a bad company, the MM will not take a long position, but have a long term short position so he takes the stock down.