Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Here's an interesting read from Time Magazine.....
Watch Out, They Bite!
HOW HEDGE FUNDS TIED TO EMBATTLED BROKER REFCO USED "NAKED SHORT SELLING" TO PLUNDER SMALL COMPANIES
http://www.time.com/time/insidebiz/article/0,9171,1126706,00.html
I agree on some points...
If we all make a big return, who cares...I agree wholeheartedly...
As for not complaining about the convertible preferred, there is only a few hundred thousand outstanding and the company gets cash for those shares....we're talking about a fraction of a percent in dilution and cash gets put IN the till...
I don't have hatred for CXO....I just think we as investors got nothing for the huge investment in them...as a shareholder, it pisses me off.....if you hired a contractor to renovate your entire house and agreed to give him 4% ownership in your house in exchange for the work instead of cash, and all he did was change a lightbulb, I would think you would be pissed off....
I'll give it a rest...
Sheriff....
I'm in this alone...I schill for me , myself and I.....
CXO has been paid 216,140 freely tradable shares of the company's common stock and 1,080,000 warrants readily convertible into common stock. The company stated that a reasonable estimate of the value of such services based upon average trading prices of the company's common stock over the firm's 17 month engagement exceeds $6,000,000.
Those administrative costs for CXO on the P&L of Torvec, which you own part of, are now gone....that is a good thing..the bad thing is that it represents 4% of the company..
dyna...
It was warrants actually...thanks for bringing that up. Once the warrants are issued the company must take an expense charge on the P&L...at some point the warrants are exercised for shares which costs you and I money....in this case alot of it...as for the P&L, Q3 of 04 shows $1.6 million in Administrative expenses.....Q3 of 05 shows $250,000..what is different is that CXO is gone for this Q3.....
Sheriff....
The R&D may have been higher then, but the facts are that CXO cost you as a shareholder, $6,000,000ish dollars ...thats not misleading, thats in the filings...
"It may be that Torvecian has compared the actual numbers or that JG told him what to say." Where are you coming up with that...?
SBD.....
The company has shown cash positions on the Q's at that level for years...sometimes higher, but many times lower....they don't have high expenses, particularly now...also, they have never had a problem raising money as needed...ie the preferred sales have continued...it also ties in to the fact that this is basically a debt-free company....I like that as an investor....throw some revenues at the P&L after a deal and you have a instantly profitable company with no debt service....
10Q link is copied below......
http://www.sec.gov/Archives/edgar/data/1063197/000106319705000069/tvqf1114.htm
The 10Q is out this morning.....
Interesting to note that expenses are WAY down(emphasis on WAY..!!)with CXO gone....snap shot now shows major reduction in burn rate, low debt, large R&D expenses gone as tech is in refinement and completion stages...Loss per share way down to .03 for the quarter....
Discussions with Peng Pu continue....consulting agreement for Chinese translator will continue through at least the end of 2005...
One deal will make the profit line on the P&L almost vertical.. Not only is it impossible for Torvec to be put out of business by anyone due the minimal debt and low burn, at $1.90, with large short position, a deal will have a significant impact on share price...some could argue that it was not a good investment for the last several years...all depends on entry points I guess...it's been in the 8's, 9's and 10's 3 times, providing exit point options with very good profit over the years...but now, given this price point and the finalization of the tech for sale and/or commercialization, I think this may be the best entry point in TOVC's history....almost no downside and big bang upside...in my opinion , TOVC shareholders will enjoy the next several months.....
have a nice day...
Dino....
Stick around..I think it's going to get interesting
Let's not forget the effects that a monetizing event will have on a short position that is potentially large..
$2 per share with an up-side that is also potentially large vs. a downside that is very small.....
7% to 20% improvement in fuel efficiency....
That is impressive..I agree with dread on the deisel comment..I would bet that once this thing is put in the deisel, an emmissions test will show much lower deisel particulate emmissions...as for the mpg enhancement, I'm not an expert but I would think that the auto companies ARE concerned about fuel economy and that the IVT can be a part of that solution...last weekend i saw on Sunday night, it was either 20/20 or one of the those programs did a piece on the the EPA mileage testing and the numbers on the estimated MPG found on the window stickers of new cars....their investigation found that 90% of those numbers were impossible to hit..in some cases they were off by 50% compared to numbers produced during normal driving..they interviewed the guy from Consumer Reports who was in charge of running the MPG testing, he said it was impossible to get those MPG numbers during everyday driving scenarios....even the woman from the EPA that was interviewed admitted that the tests need to be changed and that the MPG numbers on those window stickers didnot reflect real world driving .....
Between a saftey play on the new and improved upand running to perfection Iso-Torque, the refinement and completion of the IVT's, both hydrostat and hydro-mechanical, the FTV in discussions with Peng Pu.......I believe that Torvec is officially on the verge of a monetizing event of some type.....combine that with no debt, CXO distractions gone and the continued need for the industry to innovate...stay tuned...
excellent results on the ivt from the CEO update...
Now that you are a shareholder again, you should be encouraged by the data...what do you think...
dyna......
you're talking about a few hundred thousand shares of preferred.....it would be an insignificant effect...
Dread...
Is it me or is there alot of strange stuff going on...?
Follow the money......
Coincidence.....???
I think not....LOL
nyinvst....
I read the whole OTCEXCHANGE piece..it talks about 4 different stocks including Torvec..in it says this...
"OTCS has been compensated $20,000 on behalf of EPLJ for dissemination of this opinion and other professional services."
EPLJ is the only company mentioned that paid anything...it appears that Torvec didn't pay that company a dime..
Sorry leit..
Sometimes a little quick with the "call the company" line...(the quick button is a good idea though)...sometimes I read the questions here and immediately go to the thought that who could answer that better than the G's...you're question is a good one....also, I had the impression that you saw the G's frequently....no slight intended..
Hi leit...
Don't you see those guys at the hotdog stand....ask em about that next time you see em...
Speaking of hot dogs..I ate alot of Zab's back when I was in Roch...those were some good dogs...
dyna....
we get it...let the record show that you don't like Jim Gleasman, you don't like what he says, how he says it, what he's wearing when he says it, the tone of his voice when he says it, why he says it, you don't like what he looks like, how tall he is and you most defintely don't like him as a CEO of Torvec....we get it....it's old...it's approaching
the level of beyond "shop worn".....let's move on...
What's interesting is that after all those bottled up feelings for JG, you still RE-PURCHASED shares of TOVC...??
Say hi to the guys for us....
Artguy..
Speaking of getting ahold of the Torvec management team to discuss your ideas, have you ever tried to reach them...they can't contact you...Artguy isnot in the phonebook..LOL..
You should get together with them...
dyna.....
why dont you call him and ask him...you know him now...
dyna...
"who is responsible for letting them cash in on the 6 mill?" you ask...? If CXO "cashed" anything with out filing 144's, it would be insider trading, given the fact that their status as officers and directors of the company would prohibit that action.....do you know something that the rest of the world doesn't...?
There is no way that Torvec is going to "let" any director or officer of the company sell stock without properly disclosing the intent to sell via 144's....
It's old news.....
The courts will tell us the answers at some point...
Hi Leit...
My guess is that they felt like timing the resignation as the company is gaining momentum is an attempt to throw water on the the fire, piss on their leg, rain on their parade.....
On the way back to the office I stopped at the Dollar Store and got Phil a game of Chinese Checkers for his going away present...I don't have any ideas yet for Read's gift....
Oh happy days are here again...!!
Read and Macnamara have resigned from the board of directors..! Wait till you read their resignation letters in the 8k...they are beauties...Personally, for all they have done for and to Torvec, i say we take up a collection and buy them some chintzy parting gifts...
Here is the resposne from Torvec from the 8k...
Torvec's Board of Directors has accepted the resignations of Read D. McNamara and Philip A. Fain as directors. Since the by now shop worn accusations set forth in their resignation letters and the company's response thereto have become a matter of public record as a result of previous company filings with the Securities and Exchange Commission, the Board does not believe it is necessary to address their contentions in depth.
In the Board's view, the timing of the resignations is troublesome since Messrs. Fain and McNamara had previously refused to resign as directors on August 19th. Their resignations occur just at the time the company published its most recent CEO Update on its website, www. torvec.com, and filed the same with the Securities and Exchange Commission on October 25, 2005.
The Board, for its part, is continuing to focus its efforts and attention to make Torvec a financial success for all shareholders and will let the courts decide the defamation action brought by Mr. Fain and CXO on the GO against the Gleasmans and the declaratory judgment action initiated by the company against CXO with respect to the validity of purported agreements with the company.
Follow the money....
I didn't ask you why he would say that.....
I asked you if you thought it was strange that he did that...ie...called unsolicted in to the RBJ to say that...
you said you sold all of your shares...
If you were a shareholder, would it mean something to you then...?
Didn't his actions cause you ask " now why would this guy do that..?"
dyna...
Why do you think Conboy made that unsolicited call to the RBJ.......?????
dyna...
George "Mr. Indepth analysis" Conboy is actually quite a handsome dude.....it's the picture with the LOOK that has our attention....lighten up...your defending a guy who with zero information, according to his own analyst, picked up the phone and placed an unsolicted call to the RBJ and threw Torvec under the bus....UNSOLICITED.....why is that dyna...?
Doesn't that seem odd to you? Doesn't that seem like there is something going on with Torvec that would effect him enough to make that unsolicited call...I do and a bunch of others have voted on this forum the same way...
Follow the freaking money.....
dyna....
not a good track record on the investment side for you....based on that track record, I feel extremely confident about my Torvec investment now that you have sold your position....
George Legosi...?
That was funny...laughing extra hard..!!
I actually tried to copy that same photo and paste it in a post but couldn't do it..?? The look is very telepathic...kind of scary....he must scare people into taking his investment advice...
Hi Artguy...
Great posts..keep em coming...
I bet George Conboy would know the answer to that....this is a quote about him from the Brighton Securities web site..
"He is frequently quoted in the local media when in-depth coverage is required on the stock market and he provides financial analysis of local companies."
Financial analysis with no facts to form opinions....that is amazing..he must be a sooth sayer...a virtual clarvoyant...
Follow the money...........................................
hi nycinvst...
you indicated that you "spoke to Joe Ryan V.P. at Brighton Secuities. He clearly stated that he had no facts for the basis of the opinions of Brighton Securities comments concerning Torvec. He further stated that he is the anylist for the company and CON-boy's statement and actions were based upon his recomendations".......why would they decide to pick up the phone and make those statements to the Rochester Business Journal with "no facts for the basis of the opinions".....????? It sounds as though you smell a rat also...?? Welcome to our world...
dyna...
whomever shorted Torvec thought one of two things...
1- They thought they knew where they were going to be able to get the shares from...
2- They thought they would be able to take the price down to a penny....
Now that there may be a sizeable position to cover, there is no stock available in large quantities to unwind the position. Go try and buy a miilion shares of TOVC and see where the price ends up....I could make an argument that more was shorted into yesterday and today to keep the price from running...oops, thats means a bigger short position...
Then you have goofy stuff like Conboy & Co coming out of left field with the unsolicted bashing of Torvec...why is that dyna...there are only two explanations that I can come up with...
dyna...
the short covering hasnot begun....4.9 mill to go....
The fact that you don't find it out of the norm for Brighton Securities to make an unsolicited call to the RBC on Torvec is , well, not normal...say hi to the CXO guys for all of us here at ihub...
Excellent sluething dread...
I would bet that Georgie-Boy has a connection to a short position in Torvec or to the CXO gang....or both...follow the money....
Whats amazing is that Velvet, the journalist, would consider it credible....Conboy is a media hog...it looks like he can't live with himself unless he gets his name on the news or in the paper on a weekly basis...
dread you are right on.....why the unsolicited call to the RBC from Conboy...
Follow the money...
Still only 60 shopping days till Christmas and 4.9 million shares left to cover...
Interesting...
George Conboy at Brighton Securities must be feelin it today...any bets that Goerge has never had one conversation with Torvec
Hi dino..
I will be back for a monetization party sure...