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Hit that doesn't sound like a bad idea at all.
I suppose the way to go is to invest in both and get action on both sides of the profits.
It really comes down to Veriscrip itself.
If it goes .... either would be a good investment.
If it doesn't ... it is a moot point.
Best,
Al
Rickles - He is the situation.
VPS Holding, LLC, which was formed as the entity to represent three independent corporations contracting with the Commonwealth of Kentucky for the pilot project, was subsequently acquired by MBSB as a means of conveying the license to develop the software for the VERISCRIP system successfully proven in the project.
The 8K the Company filed in 2003 explains the license agreement between ETCR and MB Software.
That agreement stands.
ETCR derives 25% of the gross profits from any state it brings in with a contract, and 5% from any state MBSB brings in.
That does not change. ETCR will get the revenues described above for all uses of VERISCRIP.
I hope this clears things up a bit.
As far as the definition of "indirect subsidiary", I used to be a systems analyst but now am a potter/clay artists so I am not familiar with the definition but I see the situation we have. I am very satisfied.
Best,
Al
-
Hit and siestabch4 you have mail. eom Al
markets - there will be. eom Al
I am here .... but back on another vacation !!
At Bald Head Island this week. Back home next week.
I will see about emailing jamie when I return.
Best,
Al
Cal I agree - many were expecting a blast-off like a rocket.
Glance back to posts 520 to 523 ...
This will take time and effort. But when it pops .... hang on.
Best,
Al
While they are being sent ... I would like a copy too please.
report@tillispottery.com
Thanks,
Al
Green - Remember too that it is NOT RB or Ihub that will make the stock go up or down appreciably. It is the product ETCR has that counts. The main investors know about Veriscip and these are not RB or IHUB investors. True they may look at the boards but they are going to invest based on Veriscip not these boards. I only know of one "real" investor that has ever posted on any of these boards and the posts are very very few and very far between.
Those folks know what is at stake and will be buying very large chunks of the stock.
(There are some on the boards that do own alot of the stock but they are not the people I am talking about.)
Best,
Al
Green I agree with KS - I too have made profits with ETCR and I own a boatload of shares that have zero costs. I am not worried about price fluctuations
.. I am waiting on the progress that is indeed in motion.
I think it is useless to wait breathlessly on "tomorrow" this is not going to happen overnight. I think due to the fact that we are dealing with politicians will make this a slow process.
One can torture oneself with counting on "tomorrow" or "next week" etc... but progress is being made and if and when there is a payoff it will be clear to everyone involved. Once the report is out don't expect a contract the next day... it just doesn't work that way... even though many think it does.
You will have to be patient. I check the stock every few days not daily or hourly like many. But I see progress and that is reassuring.
Best,
Al
exciter1 that is Augusta, Georgia. I just returned a few minutes ago ... (11 pm) long day but a lot of fun.
Take care,
Al
would love for you to drop by sometime - heck anytime!
I think from time to time someone has to post on RB to keep the BS from getting too deep there.
Not me .... lol
Later all ...... Al
Roadtrip was the best !! Thanks.
Was good talking to you on the road.
Next time I will swing by for a visit )
Best,
Al
Mini roadtrip to Augusta tomorrow .. later.
Thales - I agree - on the same page without a doubt!
If anything this situation will speed things along.
Best,
Al
Isn't it great having a civil board !?! (again) lol
Sparky I have not spoken with anyone at the company regarding this matter but I think I have a pretty good idea about the investor's page. I have not inquired because I am not concerned about it.
The SEC has to protect all investors. In order to do this it has requirements that it dictates to companies that trade stock. The SEC has become more and more focused on filings being current.
Since the company is delinquent with the filings - it is not proper to even have an investor's page.
Once they have the filings updated you will see the investor's page again.
As far as the SEC goes - if you have investors then get your filings updated, otherwise they don't want a company to even talk about investing.
Again - we will see the investor's page just as soon as the
filings are up to date.
Just my opinion.
Best,
Al
I think all those RB'ers that are "rallying" ETCR for the report etc are a little off base. It is being treated like Lance Armstrong racing against others and being boosted by the cheers.
That is just not how it works. I have no idea when the report will be published. But Jamie has things going on behind the scenes that can not by law be made public until we get the report.
Patience is indeed a virtue. Patience Patience Patience! We should all give ourselves a break from all the "Come on report!" and the like.
Just my opinion.
Best,
Al
I-Hub is a great board we should take advantage of it.
Nice to see some postings.
Best,
Al
The company is currently bound by the Commonwealth of KY to not put out any news regarding the VPS system and the trial program until the report on the trial is released and made public. Once the report from U of L is released the company will put out some news.
Looking for good things here in just a few days.
I think we are looking a some serious double digits very soon,
just like we have seen here in the past.
Probably higher as info heads our way.
Best,
Al
Glad to see you all posting here. RB is all but worthless in my opinion.
I sure like the update. I think Jamie has done a great job with very limited funds and a restrictive environment.
I do think we will see big changes but not over night. I am speaking of permanent changes by way of implementing VPS. As far as the stock goes I think we will see some runs with retracements as things build.
To me I have to hold a chunk of shares as I am away from the computer with my business lately. I would hate to be out and big news hits.....
Best,
Al
ps .. Naturally all posters are welcomed. If a post is positive or negative that is fine. As long as it is serious and civil it is legit in my book.
I think you all know I do have a sense of humor. Feel free to post as you wish ... hey no harm in having fun too )
Captain - I like any board other than RB for obvious reasons.
With IHUB we can eliminate the idiots.
I don't oppose opposing views at all but mindless posting of pure junk over and over is too much to put up with.
I imagine many will just stick with RB but I have have had my fill of it.
Take care and Happy Holidays
Al
Internet Update from Jamie ...
Dear Investor,
My apologies for the long silence, but in an effort not to jeopardize the contract with the Commonwealth of Kentucky while it was under review as a result of the protest filed by another company whose project proposal was rejected, discretion seemed to be the better part of valor.
From comments I have received personally, as well as those made in the public forums, there is a high level of frustration — to say the least — regarding the delay in filings. I share that frustration. Simply put, it’s the fate of the cash-poor, concept-rich company that we are. All I can tell you is that we are doing the best with what we have, but so far that’s not good enough.
As you know from the audit, at least two of us have a very large stake in this venture. I can assure you that no one I know is in any way working against the best interests of the Company. Suggestions to the contrary are wildly off the mark. Those who are making such suggestions will be dealt with in the appropriate manner at the proper time. For now, however, we have bigger fish to fry.
Although we are contractually prohibited from making public comments about the progress of the project, I can assure you that we have had a series of extremely successful meetings with participants in the project since the contract was reaffirmed, and are back on our original schedule. Because of the protest, however, we are exactly 90 days behind where we should be.
The Kentucky project is critical to our business plan, as most of the other regulatory states, particularly those in the Rogers Fund program, are watching our progress before making a commitment. Unfortunately, in these extremely tight budget times, only a daring public-private initiative such as ours has any prospect for success, given that the grant award covers just about 10% of the total development requirements.
Again, because of our contractual obligations, we will not be as open in our communications as we have been in the past. A lack of information should not be regarded as negative. In fact, in this case, no news is good news.
In the meantime, we wish you and yours a very happy Holiday season and are confident the new year will bring us all the blessings we deserve.
Best regards,
Best wishes,
James Kemper Millard
President & Chief Executive Officer
Equity Technologies & Resources, Inc.
325 West Main Street, Suite 240
Post Office Box 12012
Lexington, Kentucky 40579
VOX: 859.268.4446
eFAX: 419.821.3646
This communication may contain forward-looking statements. The Company expressly disclaims any intent or obligation to update any forward-looking statements.
Verified Prescription Safeguards, VeriScrip, and VPS are trademarks of Verified Prescription Safeguards, Inc., a wholly owned subsidiary of Equity Technologies & Resources, Inc. Envoii is a trademark of Envoii, Inc.
Dear Investor,
Several recent events have transpired in Kentucky that raise the profile of the need for a real-time drug diversion monitoring system.
On June 23 and again on July 1 the Kentucky Prescription Drug Diversion Task Force held inaugural hearings to define the scope of the problem of prescription drug diversion and possible solutions. The Task Force is taking a "top-down" investigative view of the drug diversion problem. Although Company representatives have been present at the hearings — and have presented materials to the Task Force staff — because the pilot project is now months behind schedule, we are not yet in a position to actively engage the Task Force with a demonstration of our provisionally patented Verified Prescription SafeguardsTM System as a real-time reporting solution to the diversion problem.
On a positive note, at the July 1 hearings, all parties testifying (Medicaid, law enforcement, licensure boards, physicians, and pharmacists) without exception called for a real-time reporting system with positive patient identifiers using a relational database with query capabilities — in short, our VPSTM system.
The next hearing on August 25 will feature what other states are doing (ironic, since Kentucky is the recognized leader in this field — a point we made directly with the Task Force staff), as well as appearances by Rep. Hal Rogers and Purdue Pharma. Two subsequent hearings will be held to present staff recommendations and formulate committee findings. We intend to have sufficient data from the pilot project to be part of the final recommendations.
The day before the Fourth of July was spent in Hazard, Kentucky — site of the two-county pilot project using our VeriscripTM System — meeting with regional leaders in the drug rehabilitation efforts from Kentucky and Virginia. These are the “front line” civilians at the local level who daily see the ravages of prescription drug diversion on rural communities. This is just the latest in a series of meetings we have had with community leaders in the pending project pilot area, as well as with law enforcement professionals and regulatory authorities.
We also met with some of our institutional partners in the pilot, of which there is still no word from the Commonwealth of Kentucky regarding the contract. Sources within state government, however, assure us the process is still progressing, and the outcome is said to be favorable.
The Company has met all the stipulations of the Request for Proposal (RFP), including responding to 17 additional questions regarding details of our Prescription Drug Monitoring Pilot Proposal. The questions centered on clarifying technical aspects of the VPS System and our business relationships with our strategic partners.
Kentucky, of course, is not our only focus. The Company has also submitted a response to the Virginia Department of Health Professions (DHP) RFP to develop a drug-monitoring program for a 29-county area in Southwestern Virginia. Originally, the Company had determined the RFP was not specific to its Veriscrip System. Upon discussions with the DHP — who also recommended a Virginia-based minority-owned company to subcontract database design — the Company was encouraged to make a proposal. This in no way assures the proposal will be successful, since the RFP is written specifically to develop a system identical to that in operation in Kentucky since 1999.
As for the filings: the continued delay from our auditors is vexing, to say the least. We have complied with all requests for information, and have had repeated assurances the filings would be made. And we continue to wait. We offer no excuses.
We do, however, continue in our quest to test our technology for a real-time monitoring program under a U.S. Department of Justice grant from the Harold Rogers Prescription Drug Diversion Monitoring Fund. Both Kentucky and Virginia are recipients of grants from the Rogers Fund; Kentucky to improve an existing system, Virginia to develop a new system. Both criteria are met with the Veriscrip System. Other states with regulatory authority in place for drug diversion monitoring hold out prospects as well, but none to the extent as Kentucky and, secondarily, Virginia.
The Company continues to believe its response to the Kentucky RFP will be favorably reviewed by the Finance Cabinet, the Cabinet for Health Services, and the Governor’s Office for Technology. We are further confident that the Company was the only organization to submit a response to the RFP. Although we do not yet know when the announcement of bid acceptance will be made, we are confident the process will continue to a successful conclusion.
Under the terms of the contract specifications, we will have two months to develop the fully functional VPS system, followed by a three-month test period, and an additional four-month evaluation of the project by an independent consultant. That schedule would be met by year’s end.
Although the two-county pilot project is our key concern, be assured that Kentucky is not our sole focus. We are in contact with several other states, any of which could supercede Kentucky's current leadership role in drug diversion monitoring. In all, 21 states now have drug diversion monitoring regulations in place — and that list is growing. We have formally contacted the highest level controlling authority (governor, attorney general, or licensure board) in each of those states regarding our provisional patent and willingness to work within increasingly tightened state budgets to implement a system that will save literally millions of dollars in Medicaid overruns — as well as save millions of lives through the reduction of prescription drug diversion. All 21 states have formally acknowledged our provisional patent. We know of several states that are waiting for results from Kentucky before making a decision regarding drug diversion monitoring.
As for the equally critical business issue of completing the 2002 10K and 2003 1st Quarter 10Q filings, we have completed the document request phase, and will complete the filings in the next several days. We are confident the stock will return to the OTCBB forthwith, as there is nothing extraordinary in the filings.
As always, we thank you for your continued interest in and support of the Verified Prescription Safeguards System.
Best wishes,
James Kemper Millard
President & Chief Executive Officer
Equity Technologies & Resources, Inc.
325 West Main Street, Suite 240
Post Office Box 12012
Lexington, Kentucky 40579
VOX: 859.268.4446
eFAX: 419.821.3646
This communication may contain forward-looking statements. The Company expressly disclaims any intent or obligation to update any forward-looking statements.
Verified Prescription Safeguards and VPS are trademarks of Verified Prescription Safeguards, Inc., a wholly owned subsidiary of Equity Technologies & Resources, Inc. Envoii is a trademark of Envoii, Inc.
Dear Investor,
As you know, we continue to wait for a decision on our bid for the two-county pilot program in Kentucky — funded in part by the U.S. Department of Justice “Harold Rogers Prescription Drug Diversion Monitoring Fund” — to test our provisional patented Verified Prescription SafeguardsTM system as a new national standard — and solution — to prevention of Medicaid fraud and drug diversion.
Regarding the current SEC filing status: As you know, we are a startup company with limited liquidity. The timeframe of Kentucky’s Request for Proposal and bid acceptance — which by all rights was to have been completed by October 2002 — was substantially delayed by the Department of Justice far beyond anyone’s imagination, particularly Rep. Hal Rogers’. (Ironic that the originating mandate of House Bill 26, enacted April 9, 2002, “declaring an emergency”, has yet to be fulfilled.) And although we have had many direct assurances the RFP and bid process will be expedited, we continue to wait word on the contract. These occurrences that caused delays now approaching six months have substantially affected the Company’s ability to secure liquid funds in a timely fashion so as to complete the required audit and post the overdue 10Q and 10K filings.
Be assured, the Company has put every effort and resource into securing those funds, just as it put every effort and resource into ensuring the contract proposal would be submitted by the April 10, 2003, deadline. Given the choice of meeting one, but not both, deadlines, your management team made the rightful choice of ensuring the Kentucky RFP response was submitted on time. We trust our shareholders will agree that was the correct decision.
The Company continues to believe its response to the Request For Proposal (RFP) will be favorably reviewed by the Finance Cabinet, the Cabinet for Health Services, and the Governor’s Office for Technology. We are further confident that the Company was the only organization to receive the requisite “letters of participation” from the two regional hospitals mandated by the RFP. Although we do not yet know when the announcement of bid acceptance will be made, we are confident the process will continue to be expedited.
Under the terms of the contract specifications, we will have two months to develop the fully functional VPS system, followed by a three-month test period, and an additional four-month evaluation of the project by an independent consultant.
Although the two-county pilot project is our key concern, be assured that Kentucky is not our sole focus. We are working with several other states, any of which could supercede Kentucky's current leadership role in drug diversion monitoring. In all, 21 states now have drug diversion monitoring regulations in place — and that list is growing. We have formally contacted the highest level controlling authority (governor, attorney general, or licensure board) in each of those states regarding our provisional patent and willingness to work within increasingly tightened state budgets to implement a system that will save literally millions of dollars in Medicaid overruns — as well as save millions of lives through the reduction of prescription drug diversion. All 21 states have formally acknowledged our provisional patent. We know of several states that are waiting for results from Kentucky before making a decision regarding drug diversion monitoring.
As always, we thank you for your continued interest in and support of the Verified Prescription Safeguards System.
Best wishes,
James Kemper Millard
President & Chief Executive Officer
Equity Technologies & Resources, Inc.
325 West Main Street, Suite 240
Post Office Box 12012
Lexington, Kentucky 40579
VOX: 859.268.4446
eFAX: 419.821.3646
This communication may contain forward-looking statements. The Company expressly disclaims any intent or obligation to update any forward-looking statements.
Verified Prescription Safeguards and VPS are trademarks of Verified Prescription Safeguards, Inc., a wholly owned subsidiary of Equity Technologies & Resources, Inc. Envoii is a trademark of Envoii, Inc.
The shares have been delivered!
I think most everyone has gotten their common shares from their preferred shares.
Al
Finally the dividend. Check the news on the site.
http://www.equitytechnologies-resources.com/pages/556153/index.htm
Dear Investor,
On Thursday, January 23, 2003, the Company fulfilled its obligation to shareholders who elected to participate in the Preferred Stock Dividend offer. Those shareholders involved will soon receive packets from the transfer agent. We ask that you not call the agent, but allow sufficient time for your packet to arrive.
We know this fulfillment is long overdue, and we sincerely appreciate the patience of those participating shareholders — and others who saw this as a test of the Company’s commitment and resolve.
It’s been said, “If you want to hear God laugh, tell Him your plans.”
As you know, we have willingly shared our plans with all concerned. And although our timetable has not always been adhered to, we have consistently — and ultimately — delivered. Of course, those events over which we have direct control have occurred sooner than those over which we have little or no control. But whether it has been the successful navigation of legislation through politically treacherous waters or fulfilling on the conversion, we continue to get things done.
As for our progress with the Commonwealth if Kentucky:
Rep. Harold Rogers' staff continues to assure us the U.S. Department of Justice “Harold Rogers Prescription Drug Diversion Monitoring Fund “has released” the $240,000 grant to the Commonwealth of Kentucky, but we also know from the Kentucky Governor’s Office for Technology and DOJ’s Bureau of Justice Assistance that there are still some "minor budget questions" to be resolved. This is consistent with the information we received in early December and confirmed through three separate contacts in mid-December — and on which we continue to set our timetable. Like it or not, we are now realistically looking at February for the earliest action date.
Be assured, Kentucky is not our sole focus.
We are working with several other states, any of which could supercede Kentucky's current leadership role in drug diversion monitoring. In all, 21 states now have drug diversion monitoring regulations in place — and that list is growing. We have formally contacted the highest level controlling authority (governor, attorney general, or licensure board) in each of those states regarding our provisional patent and willingness to work within increasingly tightened state budgets to implement a system that will save literally millions of dollars in Medicaid overruns — as well as save millions of lives through the reduction of prescription drug diversion.
Just as soon as we know something substantive, we will post the information in this space, and, if it warrants, issue a news release.
As always, we thank you for your continued interest in and support of the Verified Prescription Safeguards System.
Best wishes,
James Kemper Millard
President & Chief Executive Officer
Equity Technologies & Resources, Inc.
1050 Chinoe Rd., Suite 304
Lexington, KY 40502
859-268-4446
This communication may contain forward-looking statements. The Company expressly disclaims any intent or obligation to update any forward-looking statements.
Verified Prescription Safeguards and VPS are trademarks of Verified Prescription Safeguards, Inc., a wholly owned subsidiary of Equity Technologies & Resources, Inc. Envoii is a trademark of Envoii, Inc.
oops. psst you have a private message. eom Al
Amuck,
I know that words have so little meaning right now.
My heart is broken over your loss. Although there is some peace
in knowing that Mrs. Amuck is no longer suffering.
She was indeed an angel here on earth. She lives in your heart still. Your memory of her will live forever.
My prayers are with you and TS.
Your friend,
Al
RA .. All I can do is think positive and send my prayers and best wishes. That, I can and WILL do.
I know this is hard on you as well as Mrs. Amuck, my thoughts are with you both.
My very best always,
Al
yea I know news .. what news .... well put on your helmets .. I do think we are going to get it in the following week.
Don't even ask .. I just think we are - that's all.
Al
Cartagena-Man
Q. Are those who own preferred shares required to purchase an equal number of common shares by or before the conversion date?
A. Yes you have to own the same number of shares that it took to get the preferred in order to convert them.
---
Q. How many preferred shares are out there and how many owners have already bought their required number of common shares?
A. THere are about 13,200 preferred shares out. There is no way to know who has bought what in order to cover their preferred.
------
You've got that right.... no crystal ball.. I wish I could shed some light on the subject.
I know things are murky ... I still have faith in the company - but the time frame sux.
Best,
Al
Good day all. Out for most of the day ... see ya later.
Later,
Al
Nex - understood about the privacy issues. I wonder if it would make any difference it it was just the controlled substances. Unlike insurance where all medical info is in one pot this would just be the controlled substances.
Also I don't think the database is going to be something that is up for perusal by just any Tom, Dick or Harry. My understanding would be that only if a person is shopping doctors or there are doctors writing controlled substances to treat "acne" would the bells go off. *shrug*
This might weave thru a wee bit of the privacy issue....
For the most part your pharmacists know when you are constipated or treating a sprained ankle.
Al
Can you believe it .. civil conversation without the goofballs around. I like.
Have a great weekend,
Al
Glad to see more people 'finally seeing the light' of IHUB.
This board has been sitting here for a long time. If the bashers
come here .. off to the klink for them.
Things should be getting underway with ETCR in the weeks to come.
I have not changed my view on the stock.
I have changed my attitude with posters on RB, no games for me.
If someone shows up and after a cursory glance at the situation wants to be an armchair CEO .... I have no patience for them and no desire to waste my time on them either reading or posting to them. (I am referring to the RB board)
I am not saying that it all has to be rah rah positive and of like mind with me .. I think most that know me do know that I am not a pumper, I don't have much tolerance in the department either. I am about as fair as they come.
Let's have good discussions and trade info .....
Best to all,
Al
Worldly - I always submit TOS violations when there is a possible violation. I don't think you need to calling anyone here a Bozo.
Al
Cyn baby ... they found that S&M sight you been running (on the side.. yea right)
When the rest of the world is mean to you - you can count on Al & I-Hub ... )
Al
Marvin this email about the Gain/loss Calculator is th last email I have
in my email program from you, which email are you referring to on InvestorsHub?
I may not have gotten it but I am sure I will answer it ... *shrug*
Can you resend it ?
Best,
Al
I sent you an email inquiring.
ezcash99 - You are really asking the wrong person. I talked to Frank about it and he told me basically what he told you. I don't anything else about it.
I am not a lawyer but I do not think that an order is the same as a court trial. It's findings are not like a trial in finding guilt or innocence.
I talked to a broker about it and the response was almost a chuckle, and this broker is invested in ETCR too. This was not a concern to her at all. Her take was that it could have been improper paperwork. If someone had been scammed then there would have been a trial and a verdict. Since the broker (not my broker, she has her own money in this stock.. she is just a friend of mine)is not concerned ... neither am I, plus Dickey responded to your inquiry instead of running from it.
I think the key here would be in the response you got from Frank, he said "..totally unsubstantiated." If you are concerned and indeed can substantiated it , then it's a new party altogether and we are off to the rodeo.
Wish I could add more.
Best,
Al
ps I don't know why skeena made that slam against me and how I respond. But this board is about ETCR and related matters not me , thus I removed his/her post. Just letting you know.
Strasse it's hard to say .. the only bad thing I can really see is if the conversion does not go as it is devised for some reason. Even if there is a lot of dilution we will be getting what boils down to $1/share worth of common that we paid anywhere from .10 to .30 per share.
If someone bought the shares at .30 and they are worth .03 the loss of .27 is offset more than that buy the 1$ worth of the common. If dilution eats half of it then you would still be getting .50 for each share bought at .30
Now I am just picking numbers for the sake of making an example. I suppose we will not be able to say whether or not Frank goofed until we see what the stock converts at and how the pending legislation goes.
I have not talked to Frank for several weeks .. it would be nice to hear from him.
Take care,
Al
Skeena - we have been thru this before ... it's nothing personal and no you aren't the subject of my previous posts.
But in one day you did go from ' gimmie a me break ... I am less of a believer each day' (so something like that) to 'I think it will happen' .. etc.
The bullchit I was referring to is from other posters.
You just tend to get cold feet and go negative, hot and cold.
That happens in investing.
You take care.
Best,
Al