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Well I suppose since I live so close to Los Angeles, that's something I could attend. Provided that's where the company will now be declaring its corporate offices are located. :-/
Of course. It is always a matter of perspective.
btw, just what is "truth" in the first place?
Of course.
What about there always being more than one side to a story?
Ok, I'm here.
I'm a stock holder. I would like to know.
If there are no votes of confidence then what business is it of yours, are you a stockholder or are you a spectatator?
At one time, I was willing to provide a vote of confidence, too. Now I'm just back on the sidelines.
Evie, I don't really know that much about Wolfie as I have never been able to keep track of tlxx's past plot lines. It would be interesting to know if there is a connection and that is how Mataras got brought in. But I am the last one to use to dig around that dirt. :-P
E, I called the CEO over a month ago. Primarily just to confirm whether the person was real or not. :-P
The guy seems pretty naive, but positive on the ability of tlxx software to be reborn. He mentioned that they were looking into attracting new financing and already negotiating some contracts. And inferred that the company's past liabilities can be carried on the books for some time to come.
With the SEC filing to clear up new ownership; I would think that indicates their intention to get back on the otcbb.
However, Paul also readily admitted that tlxx's records are messed up and that even the transfer agent has no idea whom owns shares in the company; let alone what the O/S now is. :-/
Janice, I wrote a "cast of characters" post back in mid-April that Due liked. Though he suggested, and I agreed, that the better term to use would be "factions" instead of contingents.
Thanks for letting us know what happened to PK. I had personally hoped he had himself committed and was getting the help he desparately needs. From just his last few posts on this board, it is obvious that Gabe is not in control of his mood swings. :-/ Best wishes to you and your children.
What happened? Did TPK voluntarily commit himself?
That's not true. Penny machines are making a comeback in Vegas as the town is becoming more family oriented for vacations. Set old grandma in front of the penny machine and she is entertained for hours.
Wow, that's weird. He WAS a she??? Oh my! :-o
His name is not Frank.
Frankly speaking. Nor does Nanuck live in New Jersey.
Hey! What'd I miss?? :-o
I agree. em
mmayr, that's why most of us that have been here a long time have persisted in maintaining our cynicism.
Bizarre, to say the least.
Due, That's why I'm here.
but it should at the very least be entertaining.
That would be my choice as well.
I agree, I would like to know that, too!
What CAN the software 'really do'?
Imteresting, to say the least.
New Horizon,
Sandra? Just wanted to let you know that I've been concerned and hoping the best for you and your children. If you would appreciate a sympathetic ear:
my email is bke7250416@aol.com
i.e. I have experienced comparable circumstances. :-/
Sounds like a great idea. Until the IRS gets involved. And I'm sure it will. They've been the biggest obstacle in U.S. barter trade. :-/
It's also important to make sure you're aware of tax laws that apply to bartering, she notes. The IRS says that you must include in your income the fair market value of property or services you receive through bartering, at the time received. Typically, you must report his income on Schedule C or Schedule C-EZ. Because there are some gray areas in bartering, any small business owner expecting to generate significant income this way should consult with a tax accountant. There's no sense trading services to save money if you're only going to pay penalties to Uncle Sam later.
http://206.131.241.59/In_the_News_12_02.php
mmayr, The information needed to use caution in investing in this company was readily available from the longs on this board and RB. We all knew the past history of this company and recognized the bogus nature of the press releases. Mostly the issue was whether or not to trust what the integrity of the opinions being stated.
Due
yes "factions" is probably a better term to use.
Personally, I'll believe it when I see it for the SEC to pay much attention to TLXX. But maybe, with Acs getting so much attention.
Wow, suddenly this board has become more entertaining than daytime T.V. I can't (actually I can) wait for further developments in this plot line.
AnswerMan,
The company gave all appearance that it ceased operation back in 2002 when it quit filing its reports with the SEC and management stopped communicating with its shareholders. Rumor had it that the company was actually just another P&D scam. Nanuck was one of the cheerleaders in that opinion and I've basically have come to respect his opinion.
Suddenly, last fall, to the amazement of everyone over on the RagingBull board, we are suddenly unindated with "fluff" P.R. reports from this mysterious "Free and Clear Press Corps" and the equally mysterious Gabor Acs; aka "ThePennyKing." BUT no other information as to what the heck was really going on with the company was EVER presented in ANY "official" capacity. Due Dillenger joined with Nanuck back then to keep up the scrutiny on the company's related activities.
Suddenly, in the past couple of days, we finally get this SEC filing indicating the company has been sold and will be resuming its prior operations under new management.
To summarize what is going on with this board; you have two (maybe now three) contingents. There are those that are anti-otcbb scam plays and intent on exposing any and all corruption where ever it may or may not exist. Then there are the "longs" (long suffering shareholders from way back when the company was active) that believe the anti-scam group are actually paid bashers representing entities that have sold the company stock short. (The "expose' crowd" call them usually just idiots.) And now ThePennyKing is posting on this board and I would call him a contingent all to himself. (and many on these boards just call him nuts.)
As far as just whom are the "good guys," I think it all comes down to individual perspectives. :-P As far as just who is who within the company; I have found it difficult to keep the plot line staight so you will just have to figure that out yourself.
As far as myself; I am a long suffering long that has come to recognize the validity of much of what Nanuck and DueDillenger have to say. Therefore I am now a "suspect" long to many of the other "longs" except I really do try to just stay neutral, refrain from making judgement calls, and try to stay polite to all. (Would that make me a fourth contingent?):-o
Well, I would have to agree with that;
Until this organization (TLXX) gets some steam it won't amount to much. There definitely needs to be a moving team onboard. But the entertainment value sure is interesting.
mmayr, Agree! Especially focus on our own dear representatives. Just adding them all to the ranks of SSI payees should keep the fund solvent for a few more years, too. My only concern, though, is then they are bound to pass the plan to allow private investments. And with all their insider connections they will still end up supporting the crooks. :-/
tipitom;
The company per their filings no longer appears to exist. I am a long time "long" shareholder from back when the company was actively trying to get contracts. Prior management has been out of communication with shareholders since 2002. The company was just "taken" over by the FreeandClearFoundation and they put out all these announcement about a new management team coming on board last fall. There was a bit of volume trading during that time; but sales have dropped dead since. No one really has a clue as to what is really going on with the company anymore. :-/
What’s a little “loophole” between friends? If it’s between the U.S. Securities and Exchange Commission and the National Association of Security Dealers, it is a jaw-dropping, mouth-gaping one for many small public companies and their investors.
The scandal known as StockGate has embroiled hundreds of companies and dozens of brokers and marketmakers, including M. H. Myerson & Co., Inc. (NASDAQ:MHMY), Olde / H&R Block (NYSE: HRB), Charles Schwab (NYSE: SCH), and Ameritrade Holding Corp. (NASDAQ:AMTD) in a web of internaitional intrigue, manipulative short-selling and cross-border accusations and denials.
The issue seemed to be coming to a head as comments closed January 5 on an SEC staff proposal to ban many forms of naked short selling through proposed Regulation SHO.
But nothing has rocked the over-the-counter bulletin board world like the recent revelation that SEC had “sat” on a request by the NASD to close the major international loophole involving manipulation by Canadian and other overseas traders and brokers for over two years, since November, 2001, in fact.
The NASD had been the brunt of equal parts of the outrage from burned small investors, many suggesting the NASD was protecting its membership from potential losses if naked short selling shut down; but now it turns out to have been at least partly undeserving, as the SEC did nothing about a key reform proposed by the NASD itself.
During that period, the SEC brought actions against several manipulators and the industry outcry was raised to a roar. The NASD, recognizing the problem, offered one key solution. Yet, through it all, the SEC sat, telling investors at one point to “seek other solutions” to the problem. All the while, small investors were losing millions and millions of dollars, and small companies were losing market cap, the ability to borrow and any opportunity which the public markets supposedly provided them, to grow.
“Now that they have admitted the problem, how do they fix what they did?” asked Gary Valinoti, CEO of Jag Media Holdings (OTCBB: JGMHA), which has filed suit against dozens of market makers for alleged improprieties in the trading of the company’s stock.
“It’s a sad statement to the politicization of the SEC that in recent cases they are spending their efforts and resources pushing out the fiefdom of the SEC rather than protecting the small investors. Sadly enough, the whole industry works that way. Small broker dealers aren't allowed to grow to be big broker dealers because of industry regulations and procedures promigulated by boards dominated by the largest financial houses,” said Marshal Shichtman, Esq., an attorney notable for his successful negotiations to remove two public companies from the Depository Trust and Clearing Corp., which has been accused by many of failing to settle electronic trades.
The SEC had denied that the DTC system is broken, and part of the problem, but the North American Association of Securities Administrators, whose membership consists of all of the states, Mexico, Puerto Rico and Canada, including the high profile attorneys general of New York and Massachusetts, recently pointedly told the SEC that it should take another look at its attitude towards the DTC.
"NASAA urges the Commission to reconsider its stance regarding the role of the Depository Trust and Clearing Corporation (the DTC). As a threshold matter, NASAA believes that the Commission should explicitly prohibit the DTC from lending more shares of a security than it actually holds. The ability of the overall proposed rule would be severely impaired unless the Commission undertakes to implement such a prohibition,” stated Ralph Lambiase, NAASA president and Director of the Connecticut Division of Securities.
Shichtman said reforms should include the appointment of a Commissioner who is actually from the small investor community, “a genuine seat at the table.”
Scott W. Hatfield, CPA, who audits numerous small public companies, suggested that the SEC may have a conflict of interest since it is “partially self-funded,” receiving an SEC fee charged to the customer for every trade. He pointed out that if manipulative short selling is shut down, this could impact the SEC’s revenue.
He also said that the “SEC makes an on-site audit of all broker-dealers on an annual basis at an unannounced time.
Unfortunately, being creatures of habit, it seems that the SEC comes to the broker's office within a 2-week window each year. It's pretty easy to bring the records up to speed if you know when the Commission is showing up.”
Hatfield: “Back in 1929-1934, the United States was an agricultural based economy on the edge of shifting to an industrial/manufacturing economy. In 2004, the United States is a financial instrument based economy with significant decreases in the contributions to the GDP from the agricultural and manufacturing segments. As such, why hasn't Congress taken the facilities and financial resources of the Department of Agriculture and the Securities and Exchange Commission and swapped them to better reflect the contributions to the U.S. economy?”
"We closed a loophole," Steve Luparello, executive vice president of Market Regulation at NASD, was quoted as saying, regarding the decision to require its members to stringently enforce the “affirmative determination” rule.
“Until now, non-NASD members, like specialists, option markets and foreign brokers, weren't covered under the affirmative determination rule. That means that non-NASD members didn't have to represent to the NASD broker through which they conducted a short sale order that they would be able to deliver the stock by settlement date,” noted Carol Redmond, writing for Dow Jones.
The amended rule will dramatically affect short sales through non-U.S. brokers, particularly Canadian brokers that have taken advantage of the loophole to abuse hundreds of small U.S. public companies, mostly trading on the Over-the-Counter Bulletin Board administered by NASDAQ and their shareholders.
While the new rule doesn’t require anything of Canadian brokers, U.S. brokers are now required to assure themselves that Canadian brokers will be able to settle within three days.
Luparello was quoted as telling Dow Jones that “a non-member's previous failures to deliver should be a good indication of whether or not it will in fact be able to complete the transaction by the settlement date,” effectively clamping down on the worst abusers.
The rule will become effective February 20. It is on the web at http://www.nasdr.com/2610_2004.asp#04-03
Comments on Regulation SHO ended January 5, and may be viewed at http://www.sec.gov/rules/proposed/s72303.shtml .
http://www.investrend.com/articles/article.asp?analystId=0&id=6895&topicId=161&level=161
Heroines in a Global Crusade
Against Corruption
By David Ignatius
International Herald Tribune
March 5, 2001
The most interesting political movement in the world today does not have a name, and it does not even have a clear ideology. It is the global rebellion against corruption, and it stretches from France to the Philippines, from China to Colombia.
A good way to understand this global phenomenon is to look at two of its unsung heroines, a judge in Paris named Eva Joly and a politician in Colombia named Ingrid Betancourt. If they gave Nobel prizes for bravery, these two should split the award.
Because they refused to be intimidated by the power elites of their countries, these women began an inexorable process of change and reform. But each has also paid a terrible personal price, not simply in living with death threats but in suffering through tragic events for people she loved. Both have recently published memoirs in French that explain their motivation and the movement they symbolize.
Judge Joly, 57, has led the French investigation into the payoffs and thievery that surrounded the formerly state-owned oil company Elf Aquitaine. She began her probe in 1995, just one year after she became a juge d'instruction, a French position that combines judge and prosecutor. In theory, these judges have wide latitude to expose corruption, but in real life they have been checked by unwritten rules that put prominent people and institutions off-limits.
The Norwegian-born Judge Joly broke through those Gallic restraints. As she pressed her investigation, she summoned some of Paris's most prominent figures, and if they would not testify she put them in jail.
Caught in her net were people the French only whispered about: a Corsican operative named André Guelfi; a shadowy businessman, Alfred Sirven, who had managed Elf's "black" funds as its No. 2 executive; and a former foreign minister, Roland Dumas.
The Elf scandal has shaken the foundations of the French republic. The webs of influence and payoffs appear to touch many of the leading figures in French political life. Judge Joly be- gan receiving death threats several years ago, and she is now accompanied by bodyguards.
As with many of the global crusaders against corruption, she had a burr under her saddle - a quality that made her at once an insider and an outsider. The daughter of simple Norwegian farmers, she had come to Paris in 1964 when she was 20 to work as an au pair. She quickly found a job with an aristocratic French family named Joly, and then fell in love with and married their son. He was promptly disinherited, and she had to work as a secretary while her husband studied to become a doctor. While working and raising two young children, she also found time to study law. She became a prosecutor in 1981. The rest, as they say, is history. Judge Joly was determined to follow evidence wherever it led. Colleagues tried to caution her early on that she was over the line, but she ignored them.
A life lived under threats of death and public notoriety took a toll on her marriage. She and her husband grew apart, and he died tragically last week of undisclosed causes.
Ingrid Betancourt's path was different, but it led her to a similar decision to defy entrenched power.
She comes from a distinguished Colombian family. Her father served as ambassador to France, and she was educated largely in Paris. She married a French diplomat, and when she returned home to Bogota she could look forward to a life of power and privilege. All that was required was to close her eyes to the drug lords and corrupt politicians operating at the dirty edges of Colombian society.
But Ms. Betancourt could not stay silent. There was that mysterious burr under her saddle, too. She ran for the House of Representatives, and soon after taking office in 1994 she began asking questions about a dubious arms deal that had involved big commission payments.
Emboldened by that success, she began probing whether drug lords had helped finance the campaign of Colombia's then president, Ernesto Samper. That investigation eventually led to Mr. Samper's trial by the Congress.
The death threats began in 1996, as the Samper case was coming to a head. Ms. Betancourt's marriage had ended by then, and she was trying to raise two young children as a single mother. One day in June, a letter arrived with a crude warning that she and her family would pay for her crusade. In a recent interview, she described what else was in the envelope. "There was a Polaroid of the body of a child, torn apart," she said. Did she mean that the photo was torn apart? Her eyes filled with tears, five years later. "No," she said. "The child was torn apart."
She put her children on a plane the next morning for New Zealand, where her ex-husband was living. They did not live with her again for four years. Her daily companions became her bodyguards. Her crusade against corruption continues to this day.
"There is always a question of why we do things in life, especially things that are dangerous and difficult," observed Ms. Betancourt, who is now 40. But as with Eva Joly, and with the thousands of courageous others who are challenging the corruption that afflicts governments around the world, the answer is that they don't really have a choice. People with a passion for the truth cannot live with lies, no matter how dear the price of their defiance.
http://www.globalpolicy.org/nations/corrupt/2001/0305.htm
LoL! It's also possible that there just are a whole lot of them that have been intentionally set up to fail, too. The pickens are pretty easy. :-/
I believe that IFTA has a special spot within the multitude of Janice's knowledge. She has a long history with rooting out the company's connections to fraudulent activity. Consequently she does have interests (& curiousity like most of us) in what continues to transpire with this company and the shares that are still being traded.
I have no knowledge of her other interests. Except possibly she may have a focus on you personally.
Janice, who then would be doing the trading and what would be some reasons for it to occur? tia. Obviously, we are still talking very LITTLE money being exchanged when high volume activity happens.
Janice, I lost VERY little money on IFTA compared with most; I was just looking for one last quick P&D, which never happened. I can not begin to believe how much so many in our lawsuit chose to risk on such a gamble. I always figured Dan to be a used car salesman that was not to be trusted. I just never figured on a 200 to 1 R/S occurring the way it did. My attitude is you win some; you lose some. I just lost some gambling money; that's all. HOWEVER, some unfortunate shareholders bet their farms on Hoyng and deserved better treatment. And I've always had this thing about fighting for the underdogs of life.
That said; I live by a few mottos. One which is: Nothing ventured, nothing gained.
You have faith in the founder of Stockpatrol who also was indicted by the SEC. I respect where he is coming from as well. People make mistakes. I don't hold fault against Martha Stewart, either. I know a few others that have had run ins with the SEC and know they learned a great deal from the experience. Of more interest to me is Acs's activities directed at fighting market corruption. I'm just on the sidelines right now, determining if such actions are actually the makings of a river which is flowing in the direction I care to go. Further investment opportunity is not part of my plan in this regard.
OPINION OF BONDY & SCHLOSS LLP
crooks!
I have seen this website and do not believe there is a connection other than the use of the term: "Infotopia"
I don't know. I've never been able to keep track of the mulitude of entities and individuals that had their hands in the IFTA till.
pennyking, I have no idea and have not been able to figure out how/why this stock is still being traded. Could it possibly be directed by the bankruptcy trustee? Or are other entities still involved? Any thoughts you may have would be appreciated.
Janice, in the end all we have is our own experiences molding the framework of our hearts; from which we must still trust to guide us wisely.
btw, from personal observations I do realize the pennyking stands on one side in regards to views of stockpatrol. Are such views then only "one sided?" Probably.