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Horsemen all corralled now, barn door shut. Too bad the snowflakes had to go. They were so calming, like the posts from that long gone poster whose alias escapes me at the moment. If they could just fix the 'saftey' posting, we'd be all set.
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Incentive for the elusive form 211:
"...SEC rules prohibit the Market Maker from taking compensation for either Making a Market or any related activity including filing a Form 211 to get a company’s stock listed. What the market maker hopes to gain is trading activity in the stock and is granted 30 day exclusivity for trading when the stock is listed..."
Let's do a quick calculation, assuming the market maker pockets the spread for all trades. Today, we have 2750 shares traded so far, with a spread of ~$0.01. That's $27.50 for half a day's work. Let us extrapolate that out for a whole month, assuming 21 trading days/month on average: that works out to $1155.00/month. LOL! Think we'll see a flurry of 211's anytime soon? But hey, to be fair, we should use 30 days: that's $1650.00. A bit better!
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Horsemen reigned in. Sort of. LOL! The contact page on the ingen website has been updated to remove the various links to non-existent, irrelevant, or in-progress websites. Only a half-a**ed effort, though, as the aforementioned links still appear under the secure balance and oxyview pages.
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Honest Injin?
Now what is up with this? From the contact page of the ingen-tech website, we find links to three of the four horsemen:
1. invacaresupplygroup for oxyview. Nice, the link works. That's about the best of it, though, as the exclusive distributor of the famed oxyview has no info about the product. zilch.
2. PRMS for secure balance distribution. This link works also, but the website actually has a 'lorem ipsum' block of text. I've never seen this before. Interesting, but try as I might I just couldn't find any mention at all, in Latin or any other language, of secure balance.
3. PreferredProviderCare for secure balance certification. Link isn't exactly broken, but preferredprovidercare no longer exists.
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I hear tell it is 'on coarse to be varified'!!! LOL! It must be by now, heck OTC-BB has been trumpeted for at least two years. How long could it possibly take?
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Oops, I've fallen and can't get up! PreferredProviderCare.com? One of the four horsemen of the ingen-tech website contact page: domain has expired. Sup with that? Not that the PRMS website is much better (another horseman) but at least it is active.
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Telling the tale. From the interview:
"...SEC rules prohibit the Market Maker from taking compensation for either Making a Market or any related activity including filing a Form 211 to get a company’s stock listed. What the market maker hopes to gain is trading activity in the stock and is granted 30 day exclusivity for trading when the stock is listed..."
LOL! Could be a *long* time before this takes place!
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Looks like the rule 211 docs are completed on a periodic basis. LOL! The following is from a 27 Sep 2007 PR. Besides the 211 docs, again the mention of the current SEC reporting obligations even though this was false. Note also the term 'various market makers'. LOL!
...The Company's legal counsel and various market makers have prepared the c211 documents to request the NASD for approval to up-list to the Over-the Counter Bulletin Board. "This up-listing to the OTC-BB has been a long process ..." said Thomas Neavitt, CFO. "... bringing current all SEC reporting obligations has been accomplished and we look forward to market growth over the next several weeks."...
Where are all the shareholder's yachts? I don't mean the insiders, I mean the hapless common investors, those ones who read in numerous press releases how 'increased shareholder value' was on the way. Did Sand make these statements? A Google search of "shareholder value" Ingen Sand makes for an interesting reading list. LOL!
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Things missing. There are still a number of items that need to be accomplished. Off the top of my head:
1. The filing of the long-promised and eagerly awaited missing 8-K.
2. The filing of a 211 form by a market maker eager to quote the stock on the OTC-BB.
3. An increase in authorized shares to 500Million.
4. The filing of insider share holdings by various officers and/or directors.
5. The current SB-2 being declared effective. Based on past history, it has taken 2-3 months to withdraw a filing. This puts us into January 2008.
The road to the otc-bb is still quite bumpy...
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Is this like the sign at the bar that reads 'free beer tomorrow'?...
"...The 8-K that SMF is referencing will be filed next week..."
Actually, this was the most useful post Bedwet has yet written, what with RB and IHUB wacking aliases with wild and reckless abandon. Isn't it just too funny that all the IGTG pumper aliases are newly created specifically for that purpose?
Crups, the grandfather clause? Is this some part of the naked short conspiracy? C'mon, I thought better of you! Shorts responsible for IGTG's pitiful performance?!?!? LOL! Come up for air!!!
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Soon. The stock will trade again soon I think. Let's see. AJW and friends, as far as I can tell, gave actual cash to Ingen, which I suspect they will want to recoup (and then some) by selling gobs of shares. Sand suggested in his online interviews that a big reason for the poor trading performance of the stock was due to it languishing, forlorn and neglected, on the pink sheets. Well, with OTC-BB soon, that issue should go away. Everyone and his brother will likely be a biddin' on Ingen then. I myself may wish to trade a few shares.
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Probably just waiting for legal 'council' to 'varify' the filing, 'soon' followed by waiting for 'edgarization' after which it can be 'distrubuted'. Did I miss anything? The way alias are dropping like flies here and on RB, it may be difficult to get the usual inside scoop we have been used to.
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Soon.
Soon: adverb: in a prompt manner : speedily <as soon as possible> <the sooner the better> <no sooner said than done>
OTC-BB soon
Missing 8-K will be filed soon
Oxyview in the 'exclusive distributor' online database soon
Lotta stuff happening soon!
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LOL! Either Sand, or one of the message board insiders (is that redundant?), need to explain why the 'exclusive distributor' of the Oxvyiew has countless products show up in its online product catalog, but Oxyview is conspicuously absent.
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LOL! At least we know who the bulk of the trading activity the past couple of days can be attributed to. See latest Form 4 filing. You'd think with OTC-BB soon, and NYSE later, and a pending buyout, insiders would be holding their shares, not dumping them.
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LOL! That boy is a poster child for the pink sheet investor: he's wearing the rose colored glasses, he's got the hook, line, and sinker dangling from his mouth, and he's following the carrot hanging on a string.
What I found interesting was the lack of updates regarding the 'exclusive distributorship' of good ole InvacareSupplyGroup. I thought these documents needed to be up-to-date? It seems as if they took the most recently withdrawn filing, munged some numbers around, updated a couple of financial sections, and resubmitted it.
The road to the otc-bb...
Reminds me of the Bum Phillips line from long ago, "The road to the Superbowl goes through Pittsburgh".
LOL at results of this google search:
"spartan securities" 15c211
Up pops a seemingly endless list of loser pink sheets stocks with press releases about moving to the OTC-BB with Spartan Securities assisting with the 15c211. Check where these dogs trade now, if they trade at all.
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I must really be dense. I just don't get the InvacareSupplyGroup deal. Exclusive distributor. What exactly is that? All I see is a bunch of fly-by-night do-it-yourself medical product websites offering up the product. That's it?!?! Why doesn't the Oxvyiew show up in InvacareSupplyGroup's online product catalog? Did that cost more?
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Listening to the latest interview, I heard that the company:
1. is well-financed
2. is fully compliant with SEC filings
3. has strong management
LOL! From reading the most recent SEC filing, I know that 1 and 2 are clearly false which of course makes me highly suspicious of 3. What I thought was really something to hear, though, was the suggestion that company such as Invacare might possibly be a buyer of a company such as Ingen. FWIW.
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Dude, how many questions have I asked you on this board that you have actually truthfully answered? Maybe 1/2. And now you want to know the secret of my (total) omniscience? I don't think so...
This must be my favorite, though. Ahhh, life on the pinks. Pink Stinks:
THE CONTINUOUSLY ADJUSTABLE CONVERSION PRICE FEATURE OF OUR CONVERTIBLE
DEBENTURES COULD REQUIRE US TO ISSUE A SUBSTANTIALLY GREATER NUMBER OF SHARES TO
THE HOLDERS, WHICH WILL CAUSE DILUTION TO OUR EXISTING STOCKHOLDERS.
Our obligation to issue shares upon conversion of our convertible securities under the June 2006 and March 2007 agreements is essentially limitless.
The following table shows the effect on the number of shares issuable upon full
conversion ($2,060,000 aggregate principal)(without taking into account the
4.99% limitation or any interest, penalties, events of default or other amounts
under the notes), in event our common stock price declines by 25%, 50% and 75%
from the trading price at August 31, 2007.
PRICE DECREASES BY
--------------------------------------------------------------------------------
8/31/07 25% 50% 75%
----------- ---------- ----------- -----------
Common Stock Price(1) 0.0503 0.0377 0.0252 0.0126
Conversion Price (2) 0.0252 0.0189 0.0126 0.0063
100% Conversion Shares 81,746,032 108,994,709 163,492,064 326,984,127
$7K left? Gee, that will only pay Sand's father for another few months. I wonder what the shareholders are getting for their $1500/month? I wonder too what value Mr. Wirth is providing for his $18/hour. I assume that's what it is, the gang who can't type straight had some trouble with that section. But what is really troubling is all the verbiage regarding default:
EVENTS OF DEFAULT UNDER NOTE AGREEMENTS
The Company has committed various acts which constitute events of default under
its Securities Agreements dated July 25, 2006, and March 15, 2007 (and the notes
thereunder with a total principal balances of $2,060,000). The Company has
received assurance from counsel for the investors that the investors have not
placed the Company in default under the notes and therefore the Company does not
consider itself in default. There can be no assurance that the investors will
not declare a default in the future. Should such notice of default be received
by the Company, its liabilities would increase dramatically due to the
penalties, reset provisions, and other damages specified in the transaction
documents. The increase in liabilities attributed to a notice of default under
the transaction documents could exceed the Company's current market
capitalization and affect negatively on its financial condition by $7-13 million
dollars. The debentures are collateralized by the Company's assets and, in the
event if the Company is unable to repay or restructure these debentures when
required, there is no assurance that the holders of the debentures will not
institute legal proceedings to recover the amounts owed including foreclosure on
the Company's assets.
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LOL! Another! The Gold Standard For Assurance and Saftey [sic]
LOL! There are other missing 'items' as well:
- authorized shares needs to be increased
- ownership forms for various officers need to be filed
Plus, interested followers of this sad saga would like to have:
- an explanation of the 'leasehold improvements'
- an explanation of why InvacareSupplyGroup, the exclusive distributor of the vaunted Oxyview, still doesn't show the product on their website
- a description of exactly what the $150K in vehicle expenses bought (picture on the website would be ideal).
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Another classic! Right up there with steal molds!
From http://biz.yahoo.com/prnews/071016/latu063.html:
"...Using a special microchip referred to as ZigBy, OxyAlert(TM) complies with the medical standards for wireless communication, and at the same time provides patients and caregivers the ability to distance themselves from the oxygen delivery system and still monitor the amount of oxygen being delivered..."
LOL!!!!! Did the gang who can't type straight mean Zigbee?
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Sand's father? LOL! Just what is GV Product Design & Engineering? Let's see, according to various press releases, Oxyview has been completed for some time, yet on 1/1/2007 GV was 'engaged' and on 7/5/2007 received 500K shares for the completion of the Oxyview design. And here I thought Oxyview was done back in 2006 or so. Dang.
On July 5, 2007, pursuant to an agreement dated January 1, 2007 with GV Product
Design & Engineering, Inc. ("GV"), Ingen issued 500,000 shares to Robert Sand,
the president of GV. Robert Sand is the father of Ingen's CEO and Chairman,
Scott Sand. GV was engaged to provide Ingen with product and engineering
guidance for its OxyView and OxyAlert products for a period of two years. Under
the terms of its agreement with Ingen, GV is due 500,000 shares of restricted
common stock upon the completion of the design of OxyView and an additional
500,000 shares upon the completion of the design of OxyAlert. Ingen issued the
first block of 500,000 shares to GV in the name of Robert Sand for the
completion of the design of OxyView on July 5, 2007.
Ringing endorsement!!!
Here's what the Director of Sales at Invacare Supply Group had to say regarding the introduction of Oxyview(TM) at the MedTrade Convention:
"According to the Director of Sales for Invacare Supply Group, Gary Tobey, Oxyview was a success."
LOL!
dogcatcher17, handyman07728, dude had a lot of aliases. Yet another worthless penny stock hustler. I think the creator of these aliases was none other than Wild Willy Walling, the guy Sand claimed was a 'Certified Financial Analyst' in at least one press release. LOL! I think this was when I first realized how hapless this company was. On coarse, varified, and the steal molds cemented it. Turns out that Wild Will was actually a Chartered Financial Analyst which Sand eventually corrected in yet another press release, but Wild Will had let his credentials lapse and could not officially use the real title after all. After all of that Mr. Walling had his credentials restored, but alas, no more Wesearch Weports were forthcoming.
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Crupps, you post these inane questions but are avoiding the truly interesting ones, such as:
"...C'mon, Crupps, tell the truth: Did Sand really tell you the 8-K was complete but it wasn't on Edgar yet due to formatting?"
and not filling us in on your trip to the local medical device supplier that is distributing Oxyview. You did make that trip, right?
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Undervalued mainly because the stock is hidden in the pink sheets. Moving to the OTC-BB will 'fix' this. Now this is a classic. No mention of the toxic financing, the litany of misstatements regarding audits and filings, falling sales or rising costs, dilution, etc. etc. as reasons for the poor performance of the stock. LOL!
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Here's my favorite from the interview, paraphrasing a bit now:
the 'extremely strong management team' is positioning the company to be acquired by some of these larger companies such as Invacare which will lead to trading on the NYSE or NASDAQ.
LOL!
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Sand stated in the interview that there was an SB-2 in, and that prohibits promotion. He said it would be effective 'pretty soon' and that the promotion would begin after that. I thought all the SB-2's had been withdrawn?!? LOL!
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LOL! I actually listened to this! I heard some real 'whoppers'...
You are correct regarding the 10-Q. I guess I am over anxious!
With regards to the spare employee(s), perhaps he/them are still busy training the ISG folks:
"...Scott Sand, CEO, stated; "Our sales and marketing staff look forward in training the core sales professionals of Invacare Supply Group in their Massachusetts location on October 2nd..."
I'm not sure exactly what the training would entail (don't you just stick this thing in-line of a plastic tube), but perhaps the interest was so great it took *much* longer than expected. On the other hand, maybe they decided to drive the DesertFox down to Florida for the show and had some travel trouble?
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Very mysterious, I'd say.
Uplisting is imminent, but filings are missing. The previously mentioned 8-K of course, but there is the most recent 10-Q that is conspicuously absent as well. Not even an NT-10Q for that. And what about InvacareSupplyGroup? Signing 'em up, sending some Oxyviews, a myriad of press releases, yet nothing on a catalog search on their website. The Oxview ambulance has been commissioned, gassed up, and ready to go to various exhibits, apparently, but no news on that. Maybe none of the 5 (or is it 1?) employees is qualified to drive it? And nary a whisper from any of the prior pumpers of the stock. If only Wild Willy Walling would whip up another wesearch weport we might witness a windfall of sorts...
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Perhaps they are off coarse [sic]? This from am email from Sand dated 5 July 2005: "...We are on coarse to file the SEC documents to become a reporting company and move to the OTCBB..."
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C'mon, Crupps, tell the truth: Did Sand really tell you the 8-K was complete but it wasn't on Edgar yet due to formatting?
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Why, every day the distance to go is cut in half. Do I need to fire up the HP to calculate time remaining?
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