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Sheriff..
You and our old friend invest111 seem to have the exact same hot buttons and make strikingly similar comments about alot of stuff...has anyone noticed that...? I am sure it's just a coincidence...
yikes .....
I didnt say he didn't say it....it wasn't in his text was all i said...and the only reference to that whole thing that I could find was in that press release..
you guys seem edgy...we're just talking here.....
Sheriff..
I looked through the text of the shareholder meeting from last year...no where in Otto's remarks is there a weeks not months comment.....the only place I can find is from a August 6, 2004 press realease announcing the IVT patent. I have pasted it below for you..
Torvec Announces the IVT(TM) Patent Has Been Granted
ROCHESTER, N.Y, Aug. 6 /PRNewswire-FirstCall/ -- Torvec, Inc.
(OTC Bulletin Board: TOVC.OB) announced today that the United States Patent
Office has issued Patent No. US 6,748,817 B2 entitled, Transmission with
Minimal Orbiter. This patent has seventeen claims and three drawing sheets.
Confirmation that the transmission is patented removes one more barrier to
moving forward with commercialization.
This patent is for the infinitely variable transmission (IVT(TM)) which
was designed, tested and improved in a Dodge Ram 4x4 (diesel) over the past
two years. This transmission demonstrated significant improvement in the fuel
mileage for city driving. According to EPA statistics, over 60% of all
driving now occurs in city driving conditions. The typical difference between
city and highway driving averages approximately five to six miles per gallon.
The IVT(TM) narrows this difference. With oil prices hitting new highs, this
patented transmission increases in value. If the IVT(TM) was in all new SUV's
and light trucks and these vehicles were diesel powered, the annual savings
would exceed one billion gallons. At today's average gasoline price this
would equate to consumer savings in excess of $2 billion.
However, the American SUV market is primarily for gasoline powered
vehicles, and given the worldwide oil crisis it is impossible for the
automotive companies to tool up and place diesel powered engines in a majority
of the vehicles over a short time horizon. Therefore, at the request of the
automotive industry, Torvec is responding to the crisis by putting its
transmission in a gasoline powered GM Tahoe. A new design incorporating the
improvements from the Dodge tests has been manufactured. Each automotive
company has their own design specific to their product line, so the
transmission tested in the Dodge cannot simply be placed in the GM Tahoe.
Torvec's IVT(TM) fits within the current configuration of the production GM
Tahoe. We need not make any modifications. This is especially important to
the OEMs (auto manufacturers) for rapid installation and deployment, while
being extremely cost effective to make this change. Torvec's IVT(TM) has 166
parts compared to 740 parts for an automatic transmission.
The dynamometer utilized by Torvec is now programmed to do certified
testing, and the next step is to establish the exact fuel mileage of the GM
Tahoe with its present automatic transmission for the baseline. This is a two
to three week process. Torvec has now received all manufactured parts with
the exception of the outside housing, and these parts are now undergoing final
inspection to check design tolerances. We have completed the written program
for the electronic control of the transmission's operation.
Our team of engineers is working long, hard hours to complete this project
as rapidly as possible. Our timeframes are measured in weeks, not years.
Torvec, Inc. specializes in automotive and related technology. The
company holds numerous U.S. and international patents protecting inventions
such as a steering drive and suspension system for tracked vehicles,
infinitely-variable transmission, hydraulic pump and motor, constant velocity
joint, and spherical gearing. Ice Surface Development, Inc. is advancing
technologies to improve driving experiences for industrial, commercial, and
consumer vehicles by eliminating the hassle of ice removal and loss of
traction. For additional information and presentations, please visit
http://www.torvec.com.
hey ..guess what..good news..
I double checked and I was right about those guys running the company during much of the stock slide...I thought I was losing it there for a few minutes..
Oh well..it's not important...
there I go again with bad information...
I could have sworn I remember Otto as CEO and Macnamara as Chairman and then Fain as ceo for the bulk of the time during the downward slide you referenced...
sorry , i messed up again
and who was running the company during the share price free fall...?
It was Otto...
I thought he said that referencing when the company was going to be finished running their EPA tests on the IVT....might be wrong on that..my retention is apparently not good according to dyna.....but have to give you partial, if not full credit on the Otto answer.....
Don't know what the prize will be yet, but it will most certainly be something chintzy...LOL
dyna...
I thought you liquidated your TOVC position some time ago...
You mean you bought back in feeling the way you do about the company....??
Interesting you keep bringing up the weeks not months comment..
This is a quiz for all to answer....can anyone tell us where the quote "weeks not months" came from and what it was referring to.....you must get the both parts of the who said it and what they were referring to when is was qouted in order to win the prize...
It's official...
You're no fun any more...LOL
Sheriff...
This is the perfect time for you to sell..TOVC is up a little bit and you won't have to agonize over what a horrible investment it is...think of all the anxiety that willbe gone from your life..
LOL....
Hi ya trucker....hope you're doing well...sheriff just doesn't have the same appreciation for comedy as you do...
dread....i found what leit was referring to ...link below
http://edgar.brand.edgar-online.com/default.aspx?cik=0001063197
hi Leit..
I'm pretty sure that's a list of all the people who know that there is still a sizeable short position in Torvec...LOL
once again dread is on the case....
if i didn't live 1500 miles away, i'd be there in the back of the room scoping the place out for shorts...!! LOL
Since there are now more than 3500 shareholders, I would imagine that they are scattered about the US and most likely, internationally...there are probably more lurkers on this forum than we think....any update on the events of Thursday would be appreciated... thanks dread for all of your efforts in 2005...keep up the good work here on ihub....!
Well said Leit...
if anyone that will be attending is willing to summarize the events of the shareholdrs meeting Thursday night, those of us who can't go would appreciate any comments on the board when you get back to your rerspective homes that night...wish I could be there...have fun and let us know how it goes...
UBS is pitching from both sides of the plate trying to keep this thing from escaping...
"I hear the train a comin' "
Johnny Cash
This summer, that was probably accurate.....
With the EPA coming out with new numbers to hit, the auto companies will be very acutely tuned to fuel mileage...they will have to hit the CAFE numbers....before, they were fat, dumb and happy because hitting the CAFE numbers based on the current EPA tests has been a no brainer...hence the focus on costs and weight. The EPA coming out with new numbers is a game changer that will re-emphasize fuel consumption, along with cost, weight AND performance....
So here is Torvec with a working IVT, showing repeatable fuel savings (the posted numbers are quite impressive)and further refinement on all of the tech portfolio...I, for one, think it won't be long for this story to unfold...
I don't live in Rochester and willnot be attending the meeting......
If I did, you would be welcome to break bread with us...
Have a nice Christmas everyone and the best to each of you and your families in 2006...
I am signed off for most likely a week...have fun..
Tor....
Thanks Yogi...!!
Ok...
Do they like Chinese food...?
Sorry....
Thought that since it was deleted that you sent a rocket in my direction...assumption was incorrect....wrong again...
I havn't been wrong this many times in a week since that time that I thought I was wrong, but I was actually right...LOL
You're making alot of friends here sheriff...
what was in that post to me that got deleted very quickly late yesterday.....I'm sure it was wishing me a happy holiday...never got a chance to read it...
for the record, the two topics you don't like to talk about...the Tovc short position and CXO, aren't going away anytime soon...you're starting to sound exactly like someone we know who used to post here and was invited to stop posting.
Happy Holiday's...!!
good one Dino...
"I never had sex with that woman"...LOL
hope you're well....
Marty Feldman......LOL
Sheesh....
You guys get your panties in a wad pretty quickly on this topic...I am not lying about anything sheriff..I was merely wrong in my description of the UBS Schwab relationship..that is why I posted the whole annoucement...dyna..your response was pretty funny..
What I was trying to point out was that UBS/Schwab, the part that is now owned by UBS and partnering with Schwab and now one of the largest volumne traders of OTC stocks in the Milky Way galaxy(Europe is part of that galaxy by the way), has been on both ends of the bid and ask ALOT in the last month...from that I offered a scenario that could be happening....
Let the record show once again that dyna and sherrif and probably others here don't think there is a short position in Torvec....let the record also show that I do......
everything is cool....no need to get winded or anxious....no one is being pulled out of a burning building....we are just chatting in a chat area of the internet....
what happened to happy thoughts...?
Here is the whole announcement you were referring to...
UBS to Acquire Charles Schwab's Capital Markets Division
UBS announced today that it will acquire Charles Schwab SoundView Capital Markets, the Capital Markets Division of Charles Schwab Corp., for $265 million (USD) paid in cash. The transaction is expected to close in the fourth quarter of 2004, subject to regulatory approval. The acquisition will be integrated in the Equities business of UBS’s Investment Bank.
The business comprises equities trading and sales, including one of the leading third party execution businesses, along with Schwab's state-of-the-art NASDAQ trading system. The business currently handles over 200 million shares a day in trade volume and makes a market in over 11,000 stocks. With this transaction, UBS expects to become one of the top traders in NASDAQ securities. UBS is top 3 in the trading of NYSE-listed securities and is the largest secondary equities house worldwide.
As part of the sale, the parties have entered into a multi-year execution service agreement for the handling of Schwab’s equities and listed options orders.
This transaction will add significant scale to UBS’s business flow from third party brokers and on-line brokers, making UBS one of the top providers of execution services for US retail brokers.
John Costas, Chairman and CEO of UBS Investment Bank said: “This transaction is consistent with our organic growth plan in combination with targeted acquisitions to ensure the growth of our franchises. This will propel UBS to a leading position as a top trader of NASDAQ securities globally and further our goal of becoming a premier provider of services to private clients around the world. We are extremely pleased to be working in a collaborative partnership with Charles Schwab and are excited by the expansion of services to our own wealth management clients.”
Commenting on the sale, Schwab Chairman and CEO, Charles R. Schwab said:
“The company has made the strategic decision to intensify its focus on Schwab’s core business of serving individual investors and independent financial advisors who work with them. The sale of our capital markets business reflects an important outcome of that decision. A primary objective in the transaction was to establish a relationship that assures our clients will receive the same superior trade execution they have come to expect from Schwab, and we are very pleased to be able to partner with UBS to that end.”
What I'm telling you is that you are not paying attention...
maybe a better way to put it is you pay attention very selectively..
You're not paying attention at all...
That is not what I am saying.....
didn't know this was a holiday message board...
UBS is one of the largest brokers in the world...they own Schwab
Think about this for a second...They are HQ'd in Europe where shorting US OTC/BB stocks is legal in some countries....how many funds are they connected to....hundreds...they could very easily be connected to a large short position in a US OTC stock like Torvec....in some cases UBS could be buying back on the bid side from their own retail UBS/Schwab customers on the ask side.......what world we live in...
Whom ever is short on Torvec has recognized that the share price cannot be pounded past the $1.50 level...it has too much support there, making it time to unwind the position without creating any perception of demand....I think this has been going on for weeks, but that there is a long way to go...as a shareholder, I hope that the behind the scenes activities at Torvec are moving the company closer to a deal or deals that will create real demand for the stock...that will either acclerate the cover or cause them to SELL more short to try to slow it down in the event of a deal...my opinion is that it will be futile should that occur...
This topic willnot go away....we havn't covered it in nearly enough detail...believing it doesn't exist doesn't mean it doesn't exist
Just checked Level II quote...
UBS/Schwab is again on both ends of the bid and ask....that has happened alot during the last month...my opinion is that they have a client who wants to try to quietly cover a very large short position in this range....10,000 to 15,000 a day average, try to keep the cover price in the 1.50 to 1.70 range without raising the price....at that rate it will take 5 to 6 months to cover....it is now a race to see if they can unwind their position before a deal takes the stock into orbit...game on MF's....
Market makers having a fun time w TOVC..
Nice .35 cent spread....
From today's on line NY Times...
That Blur? It's China, Moving Up in the Pack
By DAVID BARBOZA and DANIEL ALTMAN
Published: December 21, 2005
SHANGHAI, Dec. 20 - Many economists have long suspected that official government statistics here provided only a shadow of reality.
With China's announcement on Tuesday that its economy was considerably bigger than previously estimated, economists and financial prognosticators are scrambling to rethink their assessment of China's rise and its role on the world stage. China's new figures suggest that it probably has passed France, Italy and Britain to become the world's fourth-largest economy.
Some economists are even accelerating their timetables for when China may eclipse the United States as the world's biggest economy. With the new figures offering a more expansive view of economic activity, some said China could overtake the United States as early as 2035, at least five years earlier than previous projections.
"We now have a new snapshot of the Chinese economy," said Hong Liang, an economist at Goldman Sachs. "This is not slightly bigger - it's a significantly bigger economy."
China said it revised its economic data after a yearlong nationwide economic census uncovered about $280 billion in hidden economic output last year. The new output was the equivalent of an economy the size of Turkey's or Indonesia's - or 40 percent the size of India's economy.
As a result, China's gross domestic product for last year is now estimated at nearly $2 trillion, not the previously reported $1.65 trillion. That translates into an adjusted increase of 17 percent, making China the sixth-largest economy in the world in 2004.
With China expected to report another year of sizzling economic growth in 2005, its economy may already be ranked No. 4, trailing only the United States, Japan and Germany. Moreover, even after two decades of very strong growth, China is still the world's fastest-growing major economy, expanding more than 9 percent over the last few years.
The United States economy is still far in front, with a value of about $11.7 trillion last year. And for all China's fast growth and its rapid ascension to the major leagues among national economies, it remains a relatively poor country.
Even with the expected revision, China's output per person will climb to a little more than $1,700 this year. It ranked 134th in income per person in 2003, according to the World Bank.
Though its statisticians are highly trained, China is still quite secretive about its methods and means for gathering economic data. This has long generated debate among economists, much as the Soviet Union's economic figures did: some economists think China's figures disguise weakness, while others think they hide strength.
The figures for China's national accounts - the numbers that measure gross domestic product, including spending and trade - are supplied by its National Bureau of Statistics.
The bureau publishes several sets of statistics - some as often as monthly - based either on its own estimates or upon numbers supplied by China's local governments. But those figures can vary widely. Totting up regional gross domestic product in 2003, for example, gives a figure of $1.6 trillion, 12 percent to 15 percent higher than the bureau's own estimates.
The discrepancy also underscores a difference in incentives. Provincial and municipal authorities want to impress Beijing and limit any embarrassments, as the delays in reporting bird flu cases and the chemical spill in Jilin Province have shown.
Beijing worries more about its reputation in the rest of the world, where accuracy is paramount.
There are other reasons that huge swathes of the Chinese economy are unreported, said Frank Gong, the chief China economist for J. P. Morgan Chase.
"The way they collect the G.D.P. is really from supply-side, production-based statistics," he said.
Mr. Gong suggested that collecting data from the demand side - what consumers actually spend - would be more telling.
In a system left over from when China was almost entirely a planned economy, however, all the factories and supermarkets report their own sales and spending.
"That's problematic," he said. "The service part - the cash component of the economy - can be omitted easily. That's why the statistics tend to understate the actual level of activity."
Economists say the new figures provide good news for China, suggesting that the economy is healthier, more diversified and more sustainable than previously believed.
Published: December 21, 2005
(Page 2 of 2)
The revised figures, for instance, show that a much stronger services sector has emerged in the Chinese economy, taking some weight off manufacturing. Dong Tao, an economist at Credit Suisse First Boston, said Tuesday in a statement that China might still be underestimating the size of its services sector by about $200 billion.
The new figures also relieve some worries that the economy was too heavily dependent on investment and could overheat. And they show that there are more small and medium-size companies in the country. Stephen Green, a senior economist at Standard Chartered Bank, said the new figures calm some fears about imbalances in the economy.
"It's all good," Mr. Green said. "A bigger economy means all the dangerous ratios, such as investment as a percentage of G.D.P., all fall. And they are usually cited as showing the Chinese economy is in danger or headed for a fall."
The new figures are also expected to affect government planners and policy makers, altering things like monetary policy and inflation forecasts, or how government officials allocate money in the economy.
On a more technical note, Jiemin Guo, a senior economist at the United States Bureau of Economic Analysis, pointed out a fundamental problem with China's numbers.
Most wealthy nations use a changing base for their gross domestic product series, to allow for differences over time in the basket of goods and services that consumers demand: experts don't want to use the price of a 1985 home computer, for example, in calculating today's gross domestic product.
But China uses a fixed base for several years at a time, Mr. Guo said, which results in a growing bias. Like the underreporting of the service sector, this issue is especially serious, because it could affect the accuracy not just of the gross domestic product but also of its growth rate over time.
The statistics bureau has acknowledged several of these problems and, unlike the old Soviet scorekeepers, it is eager to improve the quality of its statistics.
The bureau is working with the World Bank to develop a plan for its statistical apparatus, which would include reconciling the national and local figures.
Ms. Hong at Goldman Sachs offered an analogy to explain why the new figures were important.
"Does China have some structural illness or cancer, or is there an error with the X-ray?" she asked rhetorically.
"The last few years, so many famous economists cited the very high investment-to-G.D.P. ratio as a serious problem. Now it looks like the X-ray machine had a problem, not the patient."
I say we go a beer-a-hole...
Last man standing wins a bronzed cv joint and, of course, bragging rights..low gross...bronzed steer drive...low net gets a new handicap for the 2nd annual and, oh I don't know.. something chintzy, but chromed...LOL
No...but I enjoy blues, swing, jazz guitar....
Actually I think his last name is spelled Robillard....wasn't he from upsate NY..?
Duke Robilard....
Put him in the Z and let Keith drive like a nut until "5Star" agrees to a deal....LOL
Don Rickles....
First...I'm in for the golf tournament...The Torvec Open...sponsors to be named at a later date
Second...dread, you sound like you had a very convincing experience with the iso-torque equipped Z...I think you should go back out with Keith and do the exact same drive in the Z that that doesnot have the Torvec diff in it...wear Depends and give us a full report should you survive...LOL
Debbie Reynolds...!! LOL That was funny..
Here's something else to ponder...
On the surface,historically, Torvec could be looked at by the organized short as easy pickings...a development company, low cash levels, no revenues, no deals...etal...that type of scenario could be enticing to a group with deep pockets looking for companies that fit the profile to attack and take down to pennies......
The other scenario is that a short strategy evolved because the short player / players knew they were going to ba able to acquire the shares...alot of them...regardless of the small float....your point on that is a good one though...it is crazy....now where are those shares going to come from...?
In both scenarios, Torvec was underestimated...it is still here, still ticking with tech significantly enhanced and now appears more ready for a deal than anytime in it's history.....frankly, while I would have preferred deals to have occurred a few years ago, the substance of those deals may not have been as profitable to the company as those that can be struck now that the tech refined and ready to go...
another set of happy thoughts.....