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Notice how VNDM 5M is not depleting? That's because they are a known MM used for dilution. Share dump continues. But it does make for interesting drama. Someone nudge me when dilution ACTUALLY stops. <yawn>
They will probably let 6's sell out at some point here to get the uptick to 7 so they can continue their sell down into 6s on the bid. Basically when they run out of buyers willing to smack the ask, they let it uptick to bait more in.
Post retirement share counts according to Bill:
On Conference call: 1.7B
In today's tweets by Bill: 3.4B
Here, let me do the math for you David. 1.7B x 2 (2 is the numerical way to represent 'double') = 3.4B
LOL. LOL. ROFLMAO.
Closer comparison would be to a kids lemonade stand than a biotech.
Let me recap TPAC lies for you:
1. Bill said on CC that Outstanding share count was 2.4B and post retirement share count would be 1.7B. TRUTH is that count is currently 3.4B - DOUBLE what he said.
2. 5 years ago In 2010 SEC filing, Bill said “Our current schedule would enable us to commence commercial deliveries in late calendar 2010 or early 2011,” said McKay, “and we continue to develop supply chain ties within China to provide us delivery of superior quality components, manufactured to exacting standards, using US manufactured raw material and produced within very short lead times.”
http://www.sec.gov/Archives/edgar/data/1422295/000114420410019694/v180854_ex99-1.htm
TRUTH is 5 years later, he still hasn't commercially delivered 1 single bearing or recorded $1 in revenue.
3. Bill lied when he said all toxic conversions were done. TRUTH is that after he said that more conversions happened because he said he was forced to by the debt holder in order to avoid a lawsuit.
I'll stop there for now, Toby.
Sorry little guy. I would welcome a lawsuit. He'd never do it because all of his lies are written and recorded all over the internet. Twitter, SEC filings, PRs. It is not defamation when I am simply stating the truth. And nearly everything I've written is backed by proof.
Show me one successful lawsuit for defamation of a scrupulous CEO of a sub-penny stock. Just one. Not that it would have any bearing on my efforts to expose him and TPAC for what they are.
CEO said 1.7B O/S now today "confirms" 3.42B. How can ANYONE have ANY confidence in this company or "CEO"??
He is the epitome of Scammer and liar.
He's meeting with bankers to figure out how to hide the millions he's taken out of TPAC over the years as services, or consulting, or general and administrative. You know, those line items with no explanation of where the hell all the money actually goes.
But then again, my 16 year old son is "meeting with bankers" to fund his new $$billion$$ startup. You want to invest??
Like when Bill said sales were coming in 2010??
“Our current schedule would enable us to commence commercial deliveries in late calendar 2010 or early 2011,” said McKay, “and we continue to develop supply chain ties within China to provide us delivery of superior quality components, manufactured to exacting standards, using US manufactured raw material and produced within very short lead times.”
http://www.sec.gov/Archives/edgar/data/1422295/000114420410019694/v180854_ex99-1.htm
BREAKING NEWS: “Our current schedule would enable us to commence commercial deliveries in late calendar 2010 or early 2011,” said McKay, “and we continue to develop supply chain ties within China to provide us delivery of superior quality components, manufactured to exacting standards, using US manufactured raw material and produced within very short lead times.”
Oh wait, nope. Sorry. That was from back in 2010. Hey, it's only 4.5 years later. Don't be so impatient. Geez. Give it a decade or so.
http://www.sec.gov/Archives/edgar/data/1422295/000114420410019694/v180854_ex99-1.htm
You see that total part count of 4,154 for AS81820 Spec in the photo? Guess how many parts TPAC has listed in the entire QPL database? <drumroll> 13. As in THIRTEEN. That's 13 out of 4,154. Oh but Bill says the QPL is inaccurate, but it's too much work for him to get it corrected. He likened it to changing the tax code. Weird thing is, his competitors seem to have no difficulty listing 1,000s of parts on THE LARGEST DATABASE SOURCE for aerospace parts.
One of his self-admitted competitors that isn't even considered his big competitor has over 3700 parts in the QPL. TPAC has 1/3 of 1% of what they have listed.
Guess how much that competitor does in revenue (including multiple other products and subsidiaries other than those 3700 parts). About $400 million. So how much $ revenue do you think Bill will generate with those 13 parts if he ever does actually get an order?
Hey don't worry though. There is good news. TPAC should have at least 26 parts listed by 2020! ;)
The TRUTH is VERY SCARY when you are stuck holding the bag. Sorry folks, don't shoot the messenger.
I believe EVERY bearing manufacturer on QPL is NAVAIR approved. NAVAIR is the testing facility for bearings. Feel free to correct me if I'm wrong. But please provide proof.
Besides, the $ value of these bearings compared to all other parts in an airplane is a tiny fraction of a percent. The offset value is insignificant. Does the Chinese gov't have offsets? Yes. Do they enforce them - No. Are there 1,000s of other items / services that can be used as offsets - um, Yes.
The 'offset' value is grossly over-exaggerated.
Why do you think discussions with Harbin or AVIC have been fruitless? How about because TPAC doesn't offer any value?
Is Bill respected among his peers? I don't know. Maybe. Has that helped $TPAC. NOPE, not one single dollar in revenue! Wow, he's a real player among players! :)
I agree. Just making sure you understand this is not some highly sophisticated proprietary piece of engineering. You can practically buy the bearings at Walmart.
And just to be clear, their other bearing type, which is like a Heim bearing (google it), well they are more expensive ($100 - $150 ea). But they are still a common bearing.
But in this article that Bill (CEO) referenced, Chinese bearing manufacturers are trying to break into the US and European markets. You'd think if there was such a huge unmet demand in China, that would be their focus. But nope, they want to do business outside China.
Here's the opening line of the article:
"No American or European airplanes use Chinese parts. And Ye Jun wants to change that."
http://usa.chinadaily.com.cn/world/2015-06/04/content_20904358.htm
LOL. They won't access the Federal database that lists NAVAIR or other qualified parts? :) Pass me some kool-aid please. How do you think companies find certified and approved parts or validate that they are in fact qualified parts? You think they take a CEO's word for it? Why would competitors go through the trouble of listing 1,000s of parts on QPL? For fun? "Hey It's a nice day to to go to the lake, no, wait, better yet, I think I'll list a few hundred parts in QPL instead - that's much more fun".
You should go read the about page for QPD: http://qpldocs.dla.mil/help/about.aspx
The Qualified Products Database (QPD) serves as the official repository for all qualification information in the form of Qualification Data Sets.
The QPD contains qualification information regarding products and manufacturers as compiled and maintained by the individual Qualifying Activities(QA). One of the primary goals of QPD is to create an on-line, real-time replacement for paper-based QPL documents. It can provide buyers with assurance that items currently comply with specified requirements. The QPD is a robust application that facilitates frequent updates to qualification data and its immediate availability to users within the Standardization community.
Yes. The spec for all MS14101 parts are self lubricating.
Same bearing sold online sells for $20.60 with proof of Manufacturer Certification. Found by simple google search http://www.skygeek.com/military-standard-ms14101-4-bearing-plain-shaft.html?utm_source=googlebase&utm_medium=shoppingengine&utm_content=military-standard-ms14101-4-bearing-plain-shaft&utm_campaign=froogle&gclid=CJqL4rOZq8YCFYiCfgodQZAOYg
I wonder how many $20 bearings he's going to sell. Seems more like a commodity among aerospace.
Do your DD. Read ALL the tweets between Bill and I. 100% true. TPAC has 13 bearings listed on the Federal Government QPL
You completely don't get it. REAL bearing companies have 1,000s of different bearings listed on the QPL. The QPL is where Bill (CEO) was so proud to be on. Only problem is, he has 13, yes 13 parts listed. He claims to have more parts that they sell. I suggested he get those listed on the QPL and he replied with " @trushift That made me laugh. And I don't mean to be disrespectful, but how? It's like saying the tax code should be written more clearly"
Um, Bill, your competitors have thousands listed and you can only get 13 and it's too difficult to update it in order to get the other 20 or 30 bearings listed? How exactly are you going to get to $100 million + in revenue?? You think your competitors list 1,000s of parts on QPL even though it does nothing for their business??
SMH. Don't work too hard!
Hasn't sold a single share at ask (6) in over an hour. OUCH!
All the 6's you longs and believers want, there for the taking! Why aren't you taking? Where is your conviction?
Just like the soup nazi says: NEXT!
Disclaimer: I will likely open position at 0001 - 0002 at some point.
Paranoia only if I had something to lose. I don't. Do you?
Rarely is a CEO is concerned about shareholders, only to the extent that THEY are shareholders and to comply with SEC to avoid liability. Ask yourself:
Why is Bill so concerned about shareholder value and perception right now?
Why is he spending so much time and effort on public communication right now? (And don't give me the crap about it's his duty as CEO. This is a one man show sub-penny, flat broke company) His only obligation is to comply with SEC rules - and that doesn't include over-abundance of communication.
Does he need the company market cap / valuation to increase to qualify as a supplier to certain vendors? Is he wanting to cash out some of his holdings? Is he trying to help his 'insider' friends cash out? Who do you think he is most loyal to - you (the peon trader with $500 in your pocket) or his insider buddies, family that holds stock, toxic funders who have loaned him money many times in the past?)
I don't know the answer, but I've got my general opinion. And you've got yours.
Why? It was trading at 0001 5 weeks ago.
It went up on rumors and down on news (or lack thereof, or misinformation, or lies)
- News was retirement of 700 million shares dropping share count to 1.7 billion. Reality was he lied about share count and toxic conversions and post retirement share count is 3 billion.
Shareholders are actually worse off than they were 5 weeks ago.
He said in CC revenue expected 3rd or 4th quarter. Why would he say this:
1. He believes it
2. He knows it's not going to happen but it creates false hopes through October - that buys a lot of time for shenanigans.
And by the way, that is not 'a long time'. A long time is years, not months. When it's been 4-5 years is a couple more months really a 'long time'? He is starting to sound to me like a crafty and skilled liar. He makes it seem like he is being forthright with info with "I don't want to mislead anyone, we don't expect to see revenue for a while, at least a couple of months...". Skilled deception. Smoke & mirrors.
I was stupid for not selling at 13. But at least I got out with a respectable profit.
You mean a PO like their last PO they PR'd late last year. The one that Bill decided to just gift them the parts rather than actually require payment? That kind of PO? Don't believe me. Go read their PR's on their website and read Bills tweets from yesterday. Ludicrous.
There's not a banker in hell (and most of them are) that will lend to a company with Q like they just published. No cash. No assets. Huge losses. I can go meet with bankers all day every day to 'discuss' the purchase of AAPL. Are they going to lend me 59 cents? NOPE. But I can meet with them all I want.
Why is Bill spending so much effort having a CC and fielding questions via email / twitter? If you were CEO and actually had great things very close on the horizon like he claims, wouldn't you just work your butt off to get them done and let the results speak for themselves?? You wouldn't have to worry about shareholder perception or questions / stock price.
The psychopathic part is when traders let their emotions and beliefs overrule price action. Price / Volume is all that matters. When this failed to hold 10, then failed 8 and now hitting 6s - it looks like it could be heading even further down.
No he doesn't. Take 10 minutes and go read their past news and press releases. Many of them were a bunch of fluff that never happened. Or a lot of wordsmithing making it sound like they sold and shipped parts, but they never showed up as 'revenue'. Go read tweets from yesterday. Bill answered many of my questions, but the answers created more questions.
NOPE. Retail doesn't hold & re-load.
Can't a guy blink without 7s getting loaded from 10k back to 25 million?? Geez it's like its being manipulated for sellers or something.
It's all about false confidence so MMs can move shares at the price they want. If they are selling, they want to be able to sell without pushing the price down until after they are done. They do this by creating a huge fake support and the illusion of small resistance so that retail buys their sells. Opposite for if they want to accumulate shares. Stocks are simply a vehicle for moving money. When confidence wains by retail so as not to provide volume and price that MMs need, game is over.
That ask may be loaded far deeper than we can see. With VNDM in play, all bets are off. <waiting> <watching> <no position currently>
UH OH. VNDM stepped down to 7s
Whenever you see a massive wall on either side, be cautious of the fake. VERY CAUTIOUS. There is a reason those bids are not slapping the ask.
This is going below 6 IMO. Really sucks. Forced me out (at a nice gain still. I don't hold losers). I thought it was done with trips, but my theory proved wrong. When your plan fails, don't hold and hope. Reset, regroup & reevaluate.