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Not a good bet. Could be a fake customer just to make credible their desire to say they sold something. I'm thinking of some specific entities here that are absolutely not trusted by me.
Bad bet. No taker here. End of discussion.
One who will bet on SEC in 90 days but will not bet on an airship contract in one year shows the sides of Sanswire that one does and does not truly believe in.
Clearly willing to bet on Sanswire's vast experience and ability to shuffle papers and bodies enough to satisfy that paragon of regulatory prowess, the SEC, into letting them toddle forward yet one more time, but not willing to bet on their ability to actually function in the big bad marketplace affectively enough to sell the product they profess to manufacture. Actually good sound reasoning. Stick with betting on what they can do and run like hell from betting on what they can't do.
Think about it. It's all there if you want to read the tea leaves.
Open message to Coastie:
As a man of character and good work ethic, with aspirations toward others higher than simply relieving them of their funds, I am sure you are struggling with your commitment based on this otc thing, the achievement of which says zilch about the quality of this company.
Firstly, consider all of the many, many times globetel/sanswire has failed in their own commitments to the thousands of shareholders who have lost their many thousands of dollars in hard earned cash.
Secondly, consider the bet but a single, ill advised error based on a trite committment to one who will regard your exit as a tactical advantage in his efforts to see you thwarted in your cause. A cause which you advance using ethics and standards of performance that tower head and shoulders above all others on this board and / or associated directly, or in a round about way, with this company.
Lastly, consider those of us who were formerly and thoroughly duped into believing this unscrupulous company ever had anything to offer. We depend on you. We want you to stay. Don't honor this silly commitment that is not worthy of you. It isn't worth what we would lose in the service you provide to this board, and to honest folk.
With love,
Pokestake.
Let's put it this way, if it does not appy to Sanswire/Tao, then it is nothing more than a gaping loophole that needs to be closed. The idea is to avoid dealing with undesireables.
If what you describe were to work, then the scam artists will be looping through the revolving door like lobbyists on Capital Hill.
I'd like to think our government is just a little bit more sophisticated than that. Wouldn't you?
Coastie, thank you for bringing a reasoned and researched perspective to this board. Facts and logic are very useful evaluation tools when one is attempting to sort the wheat from the chaff.
Very effective in bringing all here around to using reasoned thinking in presenting whatever perspective they happen to bring, without feeling as though their unfounded conclusions will go unchallenged.
Again, thanks.
That's right. Don't count your ducks before they've quacked, nor if they have croaked. Dead ducks don't count, whether or not they are lined up.
Words to live by.
and to think that is just the tip of the iceberg of meaningless bs that has spewed from this company for years and years.
That's the point, if you don't know (and you don't) then forget about it being a success, unless and until it is a success. Then you won't get screwed like every other time some piece of s**t hardware has been trotted out just to take up floor space.
I agree with Cole. Why extend an ounce of forgiveness when all that has ever been displayed is fraud, failure,and incompetence.
Nothing about new management has so far demonstrated even a rudimentary ability to earn one red cent in the business they claim to be in. Plenty of shuffling shares and pumping pr's, but as per usual, nothing of substance, ever.
So why trust them? Let them prove what they are made of. Walk the talk, or shut the f up. That's my philosopy.
Fuel cell technology is not expected to be used by Sanswire.
Can you provide a link to the patent that is "ours"?
Found this old article from Intervoice-Brite's (mentioned in the PR of yesterday) past. Also mentions Promethean (doesn't Sanswire/Globetel have experience with them?) with death spiral financing explained very well. They all sound so naive back then:
http://www.thestreet.com/p/pf/markets/dumbest/10029476.html
The Five Dumbest Things on Wall Street This Week
By George Mannes
Senior Writer
4. Promethean Unbound
Certain companies are like tow trucks: If they're in the neighborhood, chances are good there's a car wreck close at hand.
That came to mind once we took a look at one of the latest deals involving Promethean Asset Management, one-time lender to such well-known clunkers as eToys, Excite@Home and the sub-dollar MicroStrategy (MSTR:Nasdaq - news - commentary) .
Wheezing and sputtering in the breakdown lane this time around is InterVoice-Brite (INTV:Nasdaq - news - commentary) , which sells voice-recognition systems and other services to telcos.
Late last month, InterVoice-Brite issued a press release saying it had successfully restructured its debt, in part through $10 million in convertible notes it issued in a private placement. "I'm pleased with these transactions," the CEO said in a statement.
What the company didn't say (although investors might have figured it out from an SEC filing to which the release alluded) is that the convertible notes, issued to Promethean, look an awful lot like what cynical Wall Street types call a toxic convertible or death-spiral convertible.
In such convertibles, the underlying company shares have a floating price. In a worst-case scenario, a company's share price falls after it issues the convert, causing an increase in the number of shares that will be issued upon conversion of the debt. That threat of dilution causes shares to fall further, starting the downward cycle all over again and leading to the death-spiral characterization.
In this particular case, the conversion price is fixed. But what isn't fixed is how many shares InterVoice-Brite might have to issue as it pays off the loan.
See, starting in September, InterVoice-Brite will have pay Promethean about $1 million a month to repay the debt. If it chooses, it can pay in cash. But if it doesn't or can't, InterVoice-Brite will have to issue common stock to make the payment. The lower the stock falls, the more stock InterVoice-Brite will have to issue, and -- well, you get the idea.
The burning question, of course, is whether InterVoice-Brite will have enough cash on hand to make the payments. Chief Financial Officer Rob-Roy Graham says the company believes it can, based on its cash on hand and expected cash flows.
But some short-sellers are betting against it, pointing to factors such as the anemic telco market and the company's $807,000 in negative cash flow from operations, reported Monday, for the three months ended May 31. They also point out that Promethean itself, as discussed in the relevant SEC filing, is able to short the stock.
So far, the short bet on InterVoice-Brite has been a good one. Since May 29, the night before the Promethean deal was announced, the stock has fallen from $3.11 to $1.75, or 44%.
For his part, Jamie O'Brien, managing member of Promethean, doesn't agree with the toxic and death-spiral characterizations of the deal. "They [InterVoice-Brite] are in complete control whether they're going to use cash, or whether they want, periodically, to use stock," says O'Brien. "We hope the company repays in cash, and the company has publicly stated they expect to repay in cash. It's a very boring instrument, hopefully."
For InterVoice-Brite's sake, let's hope so.
Sorry, fresh out of patience. Time is working against us. Too many years of the same old routine. I could be dead tomorrow, or last year, or the year before that.
This bum needs to move up or move out, and stop free loading.
Good luck in a few weeks, but I would bet against it.
In discussing the shorting of this stock, let us not forget the latest revelations regarding the propensity of certain players in the pump and dump scam artist realm to promote the notion of naked short selling as an ostensible explanation for the glut of insider shares being dumped into the market.
Huff issued that PR to the affect that investors should "safe" their shares against shorting. The concept's been batting about this board ever since. I don't think he actually gave a rip about shorting, and I don't believe it has had anything whatever to do with the fate of this shell.
There is a culture of corruption in penny stocks. Even those advocating educated, enlightended players accept a fundamental structure that is inherently corrupt. If people were only wise to the corruption, then they wouldn't be as likely to be hurt by it, we seem to b saying.
The SEC and other appropriate enforcers need to be funded so that enough people can be in the field to purge this industry of all its corruption. There is enough legitimate, high risk to make small cap's extremely dangerous in and of themselves. This added layer of illegal activity should not be acceptable to any degree. Send in the Marines.
Words are a lot like people. If you torture them enough, they will tell you anything you want to hear. The language in that PR is beyond waterboarded, it has electrodes wired to its private parts.
It can tell you anything from "Sanswire was discussed with the highest officials in the land and throughout the halls of congress" to "not a single verifiable utterance concerning Sanswire occurred anywhere within the borders of the District of Colombia".
Parse the words. Take the sentences out of context. Never does it actually state "David Christian discussed Sanswire with Senator Kerry"...nor does it specify that there actually were any "Congressmen and Senators involved in private discussions". How come? What's so difficult about stating simple facts?
The share price certainly spoke clearly.
My motto used to be 'trust but verify'. But in the case of Sanswire it's 'don't trust anything they say under any circumstances unless and until they walk the walk'. "Taking the hill" notwithstanding. Sorry.
mean,
A deal is also a contract.
Does this mean that you believe an airship was sold?
Let's call this a 'deal' and not a contract because most associate the word 'contract' with the 'purchase of product', which this deal is not.
One important question to ask: Is it possible for the "deal" to make money for the insiders if the airship is never completed (say just progress photos and a series of very exciting press releases to pump the sp over the course of a year or so)? Forget about 50% of the first ship, at what price do they break even if they dump their shares? Anybody know?
On a different note, it is amusing that those who can not find one single scrap of information within this company's storied history, that is useful for the purpose of advocating its virtues going forward, say the only useful opinions can come from shareholders? It's weak, to say the least.
One knows that anyone that fanatical would certainly use something from the past to reinforce their opinion if they possibly could. It's just that it's a barren wasteland back there and one has only those marvelous forward looking statements to go by. Is it still speculation at that point? When does past become prelude?
..was scheduled; that's from last year.
With General Jackson on board, America will be able to sleep safely at Night. Sanswire, GTC, and the General, what a team.
A lot of space and time gets wasted on the respective agendas behind the respective opinions that are expressed. It's not reasonable to attack someone for the way in which they arrive at the opinion that they hold, especially when they provide links and evidence. If one chooses to look at track record while another chooses to ignore it, they are both entitled to their opinions as well as the consequences of the actions taken based on those opinions. Some maintain respect for others while expressing them, others do not.
It's all irrelevant to Sanswire anyway in the sense that it will skyrocket on proven success just as easilly as it has nose dived on proven failures.
So who cares if you agree with how someone else arrives at their opinion or not? Yours is the one that matters going forward. Leave the rest to form their own opinions, based on reading yours and anyone else's.
Too much self righteous arrogance in the air.
To the hopefuls, I feel your joy, and therefore fully expect to feel the pain that always follows these hysterical episodes sooner or later.
When that phase comes, as it always has, you shall also have my sincerest sympathies, despite those who may attack the incredulous.
It's a bipolar life style in Sanswire World.
Don't get me wrong, I think it's sad.
Just remember who has always been right, and who has always been wrong, year after year after year. I don't count myself as being among either, but I have lived and learned from both.
Wow that is an impressive string of factual posts you put together there, coasti. I would say that your ability to read and interpret these large amounts of information is far superior to anyone who has ever posted here.
Your work does save many of us from falling for a great deal of the unsubstantiated blather that appears here on a regular basis.
Thank you very much for your time and effort and keep fighting the good fight.
Our discussion was a hypothetical one concerning the logic or feasiblilty of "scam companies".
You have flipped your focus to TAO. I'm not interested in that discussion. If you have good things to say about them, I'm sure you will educate the board.
It may be 'the point', but you're ignoring mine.
It's been clearly explained to you. The people who would take a scam stock in payment can know full well that they are dealing in a scam stock and immediately convert it to cash in case the scam is exposed before they have the time to do so.
They take it because they are willing to take the risk that the scam may be exposed (and the stock value go to zero) between their scam share payment and their cash-in on shares. It goes to the credibility of the scammer to successfully perpetrate the scam.
That is why it is so critical that the scam company pump and pump "for all it is worth" and never stop. It is still easier than actually forming up a real company and selling a real product.
Simply saying 'you cannot' have this or that does not take away the clear logic of what is being said. If one accepts that there can be a scam company, then the rest is just a matter of laying out the simple logic of a given scam scenario.
"scam companies as you call it have worthless stock because it is stock in a company that has no value or anything to offer."
If that were true then they wouldn't be scam companies, they would be true representations of their respective companies' values. You can't call them scams if nobody believes their stocks' values are more than zero. Scam companies sell stock in the marketplace for more than zero, due to the lies and deceit that people believe, not because of the lies and deceit that people don't believe. That's what makes them scams.
It isn't really that complicated. Do you really not understand?
Your Sanswire Whether (or Not) Report:
Today's flufferometer is on the rise. Expect an empty announcement emanating from a blast of foggy, thin air carrying with it a hint of BS. This will likely be followed by extended periods of silence and inaction, intermittently punctuated by uncontrolled episodes of bad news.
Enjoy it, whether you like it or not.
So they are planning to use the spiral model for planning the planning. Sounds like an excellent project for those engineering boogers Kroplin teaches. They'll all get A's for a perfect spiral plan and receive a crisp new Shell du Jour PR cerificate to frame on their dorm room walls, which we can toss in with the closet full of empty promises.
The spiral plan went into effect years ago. It's just that it's the same old two dimensional spiral, which is to say we go round and round in circles, forever.
Well, the "aerospace engeineers" they had working on it in 2006 said their product was going to have been brought to market to the tune hundreds of airships a long time ago.
Yet you are the "aerospace engineer" who says that should not have or could not have happened yet.
So which "aerospace engineer" is one to believe?
It is always next year or the year after. Just the same old pink sheet rhetoric, year after year.
"IMHO this is purely a risk investment and will play itself out sometime in 2009."
I have read and have felt optimistic by reading virtually identical statements as that throughout 2006, 2007, and 2008; although, with each passing year the level of optimism has naturally decreased exponentially so that now to once again read that statement is, to me, beyond absurd. I'm a fool grown wise for this account.
"I've never invested in a company that was so entertaining, LOL!"
..and I've never invested in a company that has been such a consistently dismal failure, fraught with fraud and deception. NOT LOL!
Tell Bernie "The Turd" Madoff. If he changes his name he'll be back on Easy Street. Truth is, you can't shine s**t.
I was thrown off by mide's quote of the SEC that sounded to me as though the SEC considered the debt legitimate.
I couldn't get my head around the idea that they would consider debt shown as balancing against the CDR fraud as being legitimate (they can't be that stupid, right? BM notwithstanding) so I imagined that they were referring to some other piece of credit that had been fabricated to look as though it had been extended to Globetel/Sanswire and that the SEC actually believed to be legitimate. (BM = Bernie "the Turd" Madoff, by the way)
I wasn't interested in manufacturing some illegitimate scenario where this all made sense, hence the "I can't imagine..." statememt.
Thanks for clarifying it, by the way. Very astute, as always.
Maybe the SEC only knows the half of it. Maybe there is no legitimate debt, but the SEC thinks that there is having seen no evidence to the contrary.
Anything is possible. In retrospect, it has been repeatedly apparent that the wisest have assumed the worst when it came to Globetel/Sanswire.
That is curious, not only as you describe but also that it generates the question 'What the heck were these supposed debtors supplying that would be worth all that much?'
After all, everything so far has been a fabrication or a complete failure. So what was changing hands from those apparently bogus operations? It appears that one possibility is that the debt itself is fabricated. Why someone would do that I have not a clue and can only defer to the fertile minds of dung that have spawned this puss case to adequately explain.
Is it me or does the idea of not producing documents for the SEC on the basis of attorney client priviledge sound ironically similar to the SEC's reported refusal to provide the congressional investigating committee with specifics about the SEC's handling of the Bernie Madoffwithmymoney case?
Everybody's on the hot seat these days...
Yeah, just look at how the SEC had Bernard Madoff quaking in his boots. He would never have dared to bilk billions out of clients all around the world while the SEC was watching, would he? (that is exactly what is being reported in the news, if you didn't know)
When you think about it, isn't it really odd to use an SEC investigation as a basis for granting credibility to a company being investigated?
"Now, let's see some contracts!"
Good luck with that. From what I've seen this company has been nothing but all talk and no revenues, even when they supposedly have contracts.
Great DD coastie. I was not aware that Phipps was involved in July of '08.
Ketch..the trade off there would be the ability to maintain a prescribed course or window of operation within air space independent of prevailing wind conditions. This would be important for avoiding going where one may not wish to go such as with international borders and other restricted areas.