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.
good" thing for VPBH?
it was a dilutive event
Snooping how so ?
POPC is POPS is chinese shell
I'M A PIRATE! by Cap'n Slappy
Oh, a pirate's life is free from strife his journey to begin
without a troubled, nagging wife a keepin' him from sin.
I've set me sails, I've got me peg, a compass and tattoo,
a parrot I call "Pauly" and a sword to run ye through.
CHORUS:
I'm A PIRATE!
Now Don't Give Me No Sass!
Or, I'll walk up right behind ye, lad, and kick ye in the ass!
Thars a nor-east blowin' in me face a gail comin' this way.
We'll stay right here and drink some more, ship out another day.
And the wenches they do make me smile I think they bring good luck
If I had me way on every day, I'd give them each a ... buck!
CHORUS:
I'm A PIRATE!
Now Don't Give Me No Sass!
Or, I'll walk up right behind ye, lad, and kick ye in the ass!
We sail and sail and read our mail and then we sail some more
we sail so much we haven't got time to go to the store.
We got no gold we got no gems and yet we feel so free
We ran out of fresh water, and had to drink our pee.
EVERYBODY:
I'm a PIRATE! Now Don't Give Me No SASS!
Or, I'll walk up right behind ye, lad, and kick ye in the ASS!!
sounds like PT got his cutlass out on you mate
a chinese shell that don't trade ?
who needs it?
Taylor confirmed - POPSTAR deal
is rescinded.
BTW - he told me why and quite frankly we should all delighted
"As we all now know "Naked Short Selling"
is much too complicated to explain to Americans on TV"
GE / Ron Insana & Bleeding hearts @ Dateline - for your lowest of low journalistic credibility - i hope all your earholes turn to a$$holes and crap on your shoulders .....
150m issued - read it and weep
maybe it was YANZU ....
Or KENTAN
That Turkish canary is singing pretty tunes
transcript : Dateline July 31, 2005:
He was just a man with a dream, a dream that came true. His hot new invention backed by Wall St.
“I was worth $42 million dollars on paper.” said Rodney Young.
Then suddenly, mysteriously it all fell apart.
Some say the big guys got big bucks, and the little guys got taken.
“There’s lying, cheating, and stealing.” Said John O’Quinn.
Ron Ansana on the street of Broken Dreams.
Dateline Leadin: From our studios in New York, here is Ann Curry.
Good evening.
Hard work, initiative, and maybe a little luck.
Lots of successful people can tell you those are the keys to making a dream come true.
At least that’s the way it’s supposed to work.
The man you are about to meet thought
He had everything he needed to succeed in selling
His revolutionary invention.
What happened next was something he never would have imagined when he first started out with an idea and a dream.
Here’s Ron Ansana.
There’s an old saying in business,
If you build a better mousetrap, people will beat a path to your door.
Rodney Young used to believe that.
But that was before his four-year odyssey through the world of starting a company: a wild ride that took him through some very murky corners of the stock market.
His is a cautionary tale every investor should hear before buying another share in a small company stock.
“Plumbers, and electricians, and plasterers, whenever I would call them, I would never get an answer.” Said Rodney Young.
Back in the early 90’s, Young was a building contractor in south Florida.
Time and time again he was having trouble reaching his subcontractors on construction jobs.
“These failed communications with these people cost money.” Said Young.
Young who was an avid computer geek on the side,
invented something to solve the problem.
A technology called the ‘Follow Me’ call.
which makes your office phone forward incoming calls to you wherever you are: on the job, in your car, or at home.
Seems like no big deal now, but back then it was a revolution.
And Young figured out how to do it for the price of a local phone call.
He began to use his invention on the job.
People were impressed.
“People kept asking, where can I buy this?
And of course the answer was, you can’t.
The light bulb came on, and I said to myself,
there may be an opportunity here.” Said Young.
After talking with his wife and family, he took a deep breath, quit the construction business, and in 1996 started his own company, EagleTech Communications.
The company went public in February 1999 on Nasdaq’s Over the Counter Bulletin Board.
And soon got a $1.2 million dollar financing from early investors who said they believed in EagleTech and wanted to help it grow.
Within 4 months EagleTech’s stock price rose from $.32 to $15.00.
A remarkable performance for a startup company.
“On Microsoft Money on MSN, you can put your stock portfolio in there, and I did check it the day the stock hit $15.00, and at that time it told me that I was worth $42 million dollars on paper which I thought was, I was just blown away by that.” Said Young.
The stock’s rapid rise got the attention of small investors around the country, looking for the next hot tech stock.
“She was one of my clients…” said Todd Benson.
Investors like Todd Benson,
“I had another client over here…” said Benson
Who was a financial planner and stockbroker
From the small town of Fremont Nebraska
“My clients were average people of the town
who work in the post office, or in the restaurant, in the tv repair store.” Said Benson.
Benson did extensive research on EagleTech, even taking the unusual step of flying to Fort Lauderdale to meet Rodney Young.
“I actually saw it all work, the technology, so I can honestly tell a person, that yeah, this company I checked out personally.” Said Benson.
Benson was able to buy in relatively early at $6.00 a share, and he felt like the smartest guy in Fremont.
More and more of his customers wanted in on some of that action.
“They wanted to know why I’m buying, and you know that leaves the door open for me to tell them about EagleTech.” Said Benson.
Then even more good news about a year after the company went public.
A man representing 5 managing directors at powerhouse Wall St. firm of Salomon Smith Barney, said the men wanted to make a big long term investment in EagleTech.
They and a group of other investors gave EagleTech a few hundred thousand dollars to start, with a promise of as much as $8 million dollars in total to help grow the company.
Rod Young was elated.
“I felt like I’d died and gone to heaven.” Said Young.
But the strange thing was even with all the good news, EagleTech stock was falling without explanation.
So were a lot of tech stocks, the famous internet bubble of the 1990’s was bursting.
But in Nebraska stockbroker Todd Benson saw the drop as a buying opportunity.
“I just put in an order for 500 more shares of EagleTech. Saying to myself gosh I hope that’s the last time, that maybe it will start going up now.” Said Benson.
It never did.
Nearly 2 years after going public EagleTech had plummeted to just pennies a share, even though the business was growing.
Rod Young’s stake on paper went from millions of dollars to almost zero.
To make matters worse the stock collapse meant the investor group didn’t have to make good on the bulk of the long term financing.
And without that money Young couldn’t keep his fledgling company afloat.
“Then I made the conscious decision to shut it down.” Said Young.
In Nebraska, stockbroker Todd Benson and his clients lost a quarter of a million dollars.
Rodney Young refused to believe that EagleTech was never meant to be.
He had a product that was useful and original. He thought his business plan was sound.
So why, he wondered, did his company go belly up just when it seemed to be doing everything right?
He just couldn’t stop thinking that something or someone had destroyed EagleTech.
The question was how and why?
“This is massive fraud, major scale. There was lying, cheating and stealing from the very start.” Said O’Quinn.
John O’Quinn is a Texas sized civil litigator, one of the most successful in the country.
“Involved in nefarious…” said O’Quinn.
He has won huge verdicts in breast implant and big tobacco cases.
Now he’s representing little old EagleTech. Seemingly small potatoes for him.
But O’Quinn believes EagleTech is key to proving a pattern of alleged fraud on Wall St. A pattern targeting thousands of small companies like EagleTech, under the radar of federal regulators of the Securities and Exchange Commission.
“Greed is a powerful motive. And there’s many, many honorable people in the securities industry, thank god. But there are people who are not honorable.” Said O’Quinn.
O’Quinn believes that right from the start, the 5 Salomon managing Directors and their other partners planned an illegal scheme to ride EagleTech stock price down, and make huge profits from that manipulation. Using a kind of stock market trade called Naked Short Selling.
It’s seriously complicated business to explain how Naked Short Selling works. Suffice to say it’s a kind of sometimes-illegal trade where you can make real money on a bet that the stock will go down.
John O’Quinn claims that even though the defendants were investing some money in EagleTech for the long term, they were making a lot more money on trades that bet the company would fail, and it became a self-fulfilling prophecy.
In addition to EagleTech, O’Quinn claims this kind of manipulation, by all kinds of traders, bankrupted as many as 1000 companies, resulting in market losses he tallies at more than $400 billion dollars.
“These companies are in every industry. These companies are all across the country.” Said O’Quinn.
“Could it be possible these companies just got caught in the down draft in the stock market, and they’re just victim of market forces not of manipulative forces?” Asked Ansana.
“No, over 90% of the companies that went though the bad market survived. Amazon.com survived. These companies, over 90% of them, were driven into bankruptcy.” Said O’Quinn.
O’Quinn has filed more than 2 dozen lawsuits in at least 7 states, some have been dismissed, but some are proceeding, including the EagleTech case. Some of the individual defendants were dismissed from that lawsuit, but O’Quinn says he intends to bring new claims against at least 3 of them. All the defendants deny manipulating the stock in any way, including Salomon, which in court papers also says the investors were acting on their own. And while O’Quinn has retained some heavy hitting experts to help press his case, including a former Undersecretary of Commerce, some securities industry experts doubt the alleged fraud in the industry is as wide spread as O’Quinn claims it is.
John O’Quinn says he’s prepared to spend as much as $100 million dollars to prove a conspiracy and manipulation in the stock market.
The SEC which is charged with protecting investors from fraud declined our request for an interview. But the Commission did institute a new regulation that took effect this year, adopted in part to crack down on illegal stock practices like the ones that allegedly contributed to EagleTech’s collapse.
But some small companies and investors say that effort is too little too late. Like Todd Benson who lost so much on EagleTech and had to move out of town, away from the family and friends he felt he betrayed.
“The changes in my life were pretty dramatic, the finality of it was the divorce, and the bankruptcy.” Said Todd Benson.
And Rod Young, his dream of being a big time entrepreneur is now as dormant as the equipment sitting in his office.
“We have no idea how many Microsoft’s have been extinguished, or how many cures for cancer will never be, because these brilliant people, who risked it all, are never allowed to have a fair shot.” Said Rodney Young.
NBC = NO BLOODY CLUE
Ron Insane says : "Naked shorting is very complicated, so we won't try to explain it on this program..."
Sources at the time told us that the Dateline story contained information that would "blow the roof off of this scandal", and that Dateline had already filmed over 100 hours of explosive footage
http://www.faulkingtruth.com/Articles/Investing101/1022.html
It's been called the biggest financial scandal in the history of the world, with incurred losses estimated by some experts at well over $1 trillion dollars. It's a scandal that involves over 1,200 offshore hedge funds, over 150 US brokers, and has already bankrupted over 7,000 US companies in the past six years. According to many of the lawsuits filed to date, the crooks include terrorist groups and organized crime syndicates. Sources say that this scandal, which involves an intricate system of selling electronic counterfeit shares of stock in an effort to destroy the market value of small publically traded companies by utilizing a method known as "naked short selling", will eventually implicate almost every major broker in America, all of the governing bodies that oversee trading, and will extend into Canada and Europe."
Sources at the time told us that the Dateline story contained information that would "blow the roof off of this scandal", and that Dateline had already filmed over 100 hours of explosive footage, with interviews from class action attorneys John O'Quinn (of the Houston law firm of O’Quinn, Laminack and Pirtle), and Wes Christian (of Christian, Smith, Wukoson and Jewell), who along with the law firm of Heard, Robins, Cloud, Lubel & Greenwood, who are representing clients in dozens of lawsuits filed against the SEC, the DTCC, and several of the country's largest brokerage firms.
http://www.faulkingtruth.com/Articles/Investing101/1012.html
translation?
Well the question refers to Apples and the answer
refers to Oranges
Good thing that the SEC won't comment.
btw
The Commission recently adopted Regulation SHO, Short Sales, 17 C.F.R. § 242.200, to address some of the problems associated with naked short selling. Regulation SHO took effect on January 3, 2005. Eagletech contends that a decision deregistering its securities in this proceeding will have the effect of "grandfathering" all pre-Regulation SHO delivery failures by naked short sellers, who will never have to purchase shares to cover their naked short positions. This policy argument should be addressed to the Commission.
http://www.sec.gov/litigation/aljdec/id287jtk.htm
www.sec.gov/litigation/aljdec/id287jtk.pdf
http://www.eagletech1.com/prn04052005.html
“…The stock borrow program can facilitate naked shorting in two ways. First, sellers can continue to fail to deliver because the NSCC can borrow the shares it needs to meet its clearing obligations through the stock borrow program. It does not have to force the seller who fails to deliver to buy in shares, nor does it have to go into the market to buy in the shares. It simply borrows them from another member firm to effect the buy-in. Since the NSCC covers the short position, the buyer of the stock also never has to buy them in. Second, the stock borrow program allows the shares to be recycled. Each stock loan gives rise to another stock futures contract. Any single share could actually be relent multiple times, giving rise to multiple futures contracts. Each futures contract credited to a broker-dealer’s sub-account at the DTC continues to be reported on the broker-dealer’s books as a share held either in its proprietary account or in a customer account. In either case, the account holder believes he owns a real share with all the rights attached to it. Consequently, the stock borrow program effectively creates additional unauthorized shares of the issuer’s stock. These undated stock futures contracts, which the financial press has referred to as phantom shares, inflate the amount of stock that is available for trading and also increase the amount of stock that is available for lending to short sellers…”
The entire text is available for download at: http://papers.ssrn.com/abstract=687282.
dan
"...........once the "average AMERICAN" gets their head out of the minutia of life and the jerry springer attitude disappears........"
its simple -- turn off the TV
I liked the montage of Lawsuits
flying in left and right
Im pausing to see them but the juicy names are
censored out
YUP very CHOTI indeed - you think stEVEN's enjoying the advertising <
you know - in
a way i'm delighted thats what they thought american audiences would understand. It proves NBC is a liberal network (as if we didn't know) and would not be labelled
a conspiracy nut. I tivo'd it so i'm watching it in byte sized chunks
Why Ron Insana ? ...yea yea CNBC etc books on wall street etc .
Why EagleTech ?
What - if any endightments and enforcements have occurred
Sounds like SBS did the old toxic preferred fart it out the back door dance
What about the other "market cap" provided by the activity of Capital raising in PIPE business ?
Why didn't Martini point the finger at Book Entry /Delivery SEC/NASDAQ/DTC/ Canada/ The DTC Borrowing Pool "AS MEASURED IN DOLLAR TERMS - NOT SHARE COUNT !!!!!!!!?
Wasn't that the whole point of the exercise ?
I have no idea who this poor money manager is - losing 250K and your family and your marriage over a naked short - THAT MOST OF US could have spotted from a mile off , means he wasn't much of a brain when it came to OPM.
As Gekko said : You're walking around blind without a cane, pal. A fool and his money are lucky enough to get together in the first place. It's a zero sum game, somebody wins, somebody loses. Money itself isn't lost or made, it's simply transferred from one perception to another.
so there it is
two years in the making
13 minutes of ron insana, eagletech and some money manager's sob story
no dtcc
no offshore hedge funds
no sec comments
no nasdaq comments
no one cares about it
I think that says it all
"If you could sell stock you don't own - pocket the money and never deliver - would you ?"
I'm personally disgusted
"YAAZU" mean anything serf ?
Good Weekend All eom
stEVEN -- is CALIfornia next ?
agreed ..
the question is WHY ?
and where is stEVEN ?
Dancin with my sel-elf dancin with my sel-elf
serf - 100% agree
Greta, Imagine the irony: The perpetrator of the Judge Lefkow case left a cigarette in the kitchen sink. He sued for 12 1/2 years for problems related to mouth cancer surgery. What is Bart Ross doing smoking cigarettes when he's had mouth cancer? He has only himself to blame for his condition, not Judge Lefkow.
LOL
Steve Choti
Anaheim, CA
Steven R. Choti
well well a writer , who'd have thunk it
http://www.cycollege.ac.cy/academics/default.cfm?category=4&subcategory=37
The Ethics of Bribery Abroad. Steven R. Choti, Brian H. Kleiner.
this guy really knows his way round the bloc ...:)
nitey nite
YOU going to play wannabe SEC cop here too?
you are in 'so way' over your head
and btw -- ignore chef - he's just a hot house flower and
you like to feed him catnip which is kinda funny.
tried your games on VPBH did you ?.....
we all watched you tricking the arb
put it back
serf .......
our favorite web site is loading the apache
practically ubiquitously
such scum
I too am interested the allegation that EVEN told Euro he worked for the SEC. And that EVEN used this to obtain emails surf had sent to other investors.
E - you schmuck - you actually said that ?!??
I have to tell you, most of the regular posting group here have spoken to PT over the last few months.
YOU are the one in the dark - <I crack myself up> - - why dont you call floss molly and ask her for PT's cell >
Now we've all watched the organized "bed and breakfasting" of what was obviously a massive short position.
And you know what ? ...imo ..It's larger now than it was at the start, and the margin costs !! - oy vey !!!
While TLND continues to wash and churn someone's buying a few shares, but no-one has substantial IMO size to sell
So you know what happens next don't you ?
(STA) TOD Rules
Only one beneficiary may be named. Transfer on Death registrations are governed by the Securities Transfer Association (STA) TOD Rules, except as altered, modified, or supplemented.
The phrase "Subject to STA TOD Rules" in an account registration shall incorporate any such modifications. TOD registrations will only be accepted with respect to shareholders who reside in a state that has adopted the Transfer on Death Registration Act. If the named beneficiary predeceases the registered shareholder(s), the account is treated as an individual account or multiple owner account (as applicable) and the assets from the account belong to the estate of the last surviving shareholder. Minors are not permitted to be named as beneficiaries except to the extent that a custodian, guardian or trustee is also named in the registration. Custodians under the Uniform Transfers to Minors Act may be designated as beneficiaries. Custodians under the Uniform Gifts to Minors Act may NOT be designated as beneficiaries. The name of the beneficiary and the phrase "Subject to STA TOD Rules" must appear in the account registration at all times. No designation such as Lineal Descendants or Lineal Descendants Per Stirpes is permitted.
Frank ...do you know what NOMINEE means ?
a little birdie told me Steven R. Choti is the second largest shareholder of TLND
who is he ? and if he is that huge why hasn't he filed a 13d ?
because there isn't anything to find ?
EVEN Says :
I offered the information about Hyde Park Advisors (PT founded) to this board and a few of the main folks ran from the DD
because there isn't anything to find ?
Or
PT is the Lex Luthor that you want us believe ?
you choose for us LMFAO ( i just crack myself up )
Hey Surf -- Post the boxer
I'm so amused to see you posting John Cioffoletti's
name here .....
SO, Why isnt PT in the endightment...
I mean you've been shouting about this old Italian / Russian
brokerage thing for about 4000 posts, but you cant link PT to any of the endightment.
Co-incidentally neither did the FBI or the SEC .......
Unless you know otherwise of course ???
if you do link it please
Who Is Steven Choti
link to what frank ?
so who said they were an SEC agent ?
Marshal Shichtman, Esq., of Marshal Shichtman & Associates, P.C., Hicksville, NY, who has gained recent recognition by assisting Trezac Corp out of the DTC despite its ban, said that recent events are no doubt causing the DTC to scramble for cover in the form of an SEC rule in an effort to avoid or lessen liability for in effect "loaning shares from the DTC" that allowed illegal naked short selling to occur.
-----------------
The band-aid that the SEC applied to the problem in the form of Reg SHO has done absolutely nothing to stem the flow of counterfeit shares being dumped onto the stock market, and in fact, has just served to point out just how rampant this scandal is, as numerous companies, both large and and small, have been on the "trade settlement failure" list since day one.....over 140 days and counting. That's 140 days (and who knows how long before the list was published) that stocks have been bought and sold to investors by brokers who NEVER DELIVERED THEM. (Remember that phrase: NEVER DELIVERED)
------------------
Q. What is DTC?
A. DTC is an acronym for the Depository Trust Company. DTC is the central depository for the brokerage community where stock and bond certificates are deposited or transferred by the broker participants. The main function of DTC is to clear and settle stock trades and to provide custody of securities in an automated environment. For every trade, there is a buyer and a seller. DTC provides an efficient and safe way for the buyer and seller to exchange securities electronically and in a centralized location eliminating the need for physical stock certificates and time for transit.
DTC is a member of the Federal Reserve system, owned by the Depository Trust and Clearing Corporation (DTCC). DTCC, in turn, is owned by several banks, brokerage houses and trading exchanges.
--------------------
Q. What is Cede & Co.?
A. Cede & Co. is merely the nominee name for DTC. DTC and Cede & Co. are synonymous and are often used interchangeably.
Q. What is “street name”?
A. “Street name” is the term given to securities held in the name of a brokerage on behalf of a customer, usually done to facilitate subsequent transactions. Street name refers to beneficial shareholders who maintain their ownership through a brokerage. Street name holders are the opposite of registered holders.
Q. Can I find out who the “street name” holders are?
A. Typically, “street name” beneficial owners are not identifiable. However, an issuer may be able to identify a portion of the “street” population by obtaining a listing of Non-Objecting Beneficial Owners (“NOBO” list). An issuer can request a NOBO listing from ADP. The listing will indicate those beneficial owners who have instructed their broker that they do not object to the disclosing of certain ownership information about themselves. Beneficial owners that do object to the disclosure of certain ownership information about themselves are called Objecting Beneficial Owners.
Non-Objecting Beneficial Owners and Objecting Beneficial Owners constitute the entire “street name” population. Consequently, a NOBO list will only provide the identities of a segment of the aggregate beneficial owner population.
-------------------
So the thing about RB seems to be true then :)
Poor Lycos
E's still praying for a RS ??!!!!
I see varsity is back ...
I too was on my travels
Is the anglophile ready for round five ?
I assume that the froth is the beast - still trapped ?
but it cant be -
hey - good job - you really are the best
Zig
What an interesting spin - but I think its just that - SPIN
After all that would mean that there are whispers between Government Agencies and private individuals who are looking to make a buck. So Anthony@Pacific wasn't the only onE then.
You are 'suggesting' the nail is a form of LBO arn't you ?
RKD - while you are SCREAMING your
position PRE PRE PRE FS = 2500 shares
so stop crying please