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Numbers are actually decent, with nice year-over-year comparisons, including a gain in revenue (3,516,164 vs 2,313,537), and decrease in losses (237,054 vs 1,011,473), and there is 999,429 cash on hand.
I had hoped that if we could get to 3.5M revenue, we'd see a net gain, but at least we are heading in the right direction.
virginian: Hope all is well with you, as well.
I'm not an expert, but at some point, enough money may be collected from these guys (assuming all can pay what gets assessed) to more than cover any SEC costs. That should start going into a fund for shareholders, but don't quote me on this.
The problem will then be which shareholders? Since the suit is though early 2004 only, then I strongly suspect that only shareholders of record up to when the suit was filed would have a chance of recovering something from such a fund.
Again, don't quote me. It may wind up all going to the SEC...
scion: Interesting that they are hitting him up for about 4 times what they hit RA with.
Then again, they might actually be able to get some money from him...
Not very encouraging going into earnings to see the action we've been having.
The action has been ugly for awhile now...
The web site has not been accessible (times out) for at least a month now, probably longer.
The 800 number has been disconnected.
I have tried emails (no responses).
I have not tried the local number (435-688-9666).
Doesn't look like they're in business at all anymore.
Sorry - Just checked the court docket using PACER. The sentencing hearing has been moved to 1/5/2009.
10/06/2008 84 NOTICE OF HEARING as to JAMES PLANT: Sentencing set for 1/5/2009 10:00 AM in COURTROOM 10-A before HONORABLE NORMA L. SHAPIRO. Copies of notice sent via regular mail to defendant and defense counsel; copies of notice sent via e-mail to defense counsel, AUSA, et al. (mw, ). (Entered: 10/06/2008) - a pdf is available that states this scheduling (but nothing about why the date has changed by 2.5 months).
There are some entries about a sealed motion by Plant, that motion getting granted (again sealed), a motion and orger to seal the documents for the two entries noted, and an entry about a phone conference about Plant. No
Unless there has been some delay that I haven't heard about, sentencing today at 10AM...
Appeals Court docket entries for 10/14:
The following are the last two entries in the 2nd Circuit Court of Appeals docket for Altomare/Gunderson appeal (08-2283-cv):
10/14/08 Appellant Richard Altomare notice of
compliance regarding Appellant's
motion to dismiss appeal filed with
proof of service.
[Entry date Oct 14 2008 ] [JR]
10/14/08 Appellant Richard Altomare motion to
voluntarily dismiss the appeal
filed with proof of service.
[Entry date Oct 14 2008] [JR]
Interesting, to say the least...
I'm doubling up, soon.
At .0001...
nsearle: Didn't get it. Somebody else did.
Like you said, there's always tomorrow - or next week, or next month, or...
Make that down 50% today...
nsearle: I'm on Bid for 200,000 at .001. I'm starting to think the whole thing is a lost cause, but another 209.99 is essentially two dinners out with friends.
I'll get them to go to McD's instead...
Apparently not. May be that this news looks like an update of the January news with no new numbers.
Dual Path Platform finally gets some real business:
http://biz.yahoo.com/iw/081002/0439484.html
If you've been looking to buy this cheaper, looks like your time is coming...
And, yet, MS is down over 40%, and GS is down 23%. Both CEO's screamed at COX to kill the NSS problem that was supposedly killing their stocks.
Oops.
How's that working out so far?
Thanks for the heads up: Siebert buying another 100000 at .178 is nice to see.
Like I said, I put in an order for 50000 shares, at the Ask - wasn't expecting to find only 5000 shares available.
Oh well...
Generic: Actually, you can... I'm the guy who bought the 5000 at .003.
Put in a buy for 50000 at .003, got only 5000...
I'm always amazed at people who sell 10000 shares at .0025, to get 15.00 after fees, or those who have 5000 shares for sale at .0030, to get 5.00 after fees.
I guess they needed lunch money - or a cup of coffee and a doughnut...
Just for yucks, tried to find an 800 listing for Cyberkey. Couldn't be found by any of the phone search apps, including AT&T.
A local number is still listed, but nothing else.
The number listed in the Ibox is not in service.
I think it's used motor oil from the automotive shop these days...
Just got filled, and immediately the Bid dropped back to .002.
Very strange action - A few minutes ago I put in an order to buy 75000 at .004. Seconds after I did this, the Bid went to .003, and a minute or so later, 100000 went off at .004/.0035, and then a couple of minutes later, another 45000 went off at .004.
Thing is, my .004 order is still open...
Gerardo: There is no 700M. The three guys that were sued are all dead broke, their companies defunct.
There's nothing to collect...
janice shell: May not be the end of his USXP story. Back at the end of last year, there was a flurry of activity regarding all three discount sellers working out some kind of settlement that was directly involved with DOJ activity concerning these guys.
It sounded, according to the info available, like they were working on getting a SEC settlement in route to a deal with the DOJ.
No direct proof of that except the reports of the people who attended the court appearance by RA et al in which the stuff popped up.
So, stay tuned...
And another trade at .23 for 9500.
Certainly looks much better than we've seen in the past.
So why has there been 3 trades, one at .24 for 155 shares, one at .23 for 20000, and one at .23 for 15500?
Looks like someone wants out, and nobody really wants in at more than .23...
Another one who jumped to the conclusion that trucks and trains labeled U.S. Xpress were from Universal Express.
U.S. Xpress Enterprises is a very large shipping company:
http://www.usxpress.com/
Hk Fooey: Thanks. Another year of this will not be a very good experience, particularly since the outcome is still really unknown.
But what else have I got to do with the money I have in this stock?
IF any suit was to occur, and succeed, and IF any money was actually recovered, it is very highly likely that the period of time would start with the announcement of the Homeland Security contract (or at least at the time Plant announced the first big payment), and definately end with the SEC suspension.
Any money spent on this stock after the company started trading on the greys would pretty much be dead.
Hk Fooey: Thanks for that info. Now, how long can we expect HMRC to fight this in the English courts?
You'd think they'd have learned by now that they're not winning many of these battles...
Just got 100000 at .0025. Not sure it's a good thing, but I don't think 259.99 cost will break my bank.
1) probably not from Plant or Cyberkey.
2) You can close out the account, get rid of your shares anyway you want without harming your rights to recover anything - IF there is any recovery, anyone who owned shares during the defined period would be eligible for a share of that recovery if they can show they owned and lost money on those shares.
imherenow: 600M x .02 is 12M.
virginian: NP, and good to hear from you again.
As for my reply to Janice, I was a bit taken aback that she kept harping on the idea that you were wrong (she's usually right on the money in how she responds to people), rather than on the idea that Jane's info was probably wrong. Frankly, I'd have responded in the same way if she had been responding to doogrof.
Ok, not doogrof...
P.S. I missed the post about 'remotely resembling'...
pontalba: My point was that attacking virginian, simply for posting what Jane said, wasn't right.
Janice should have attacked Jane's message from the start, pointing out to virginian what she saw as its flaws, instead of telling virginian that he was wrong.
At the end, she finally got it right.
janice shell: I'm sorry, but you appear to be out of line on this one. I have to back Virginian up - The "might" in Jane's statement had to do with whether a cause for action might exist, and her statement clearly states that 'her expert obtained a great deal of information showing that there were high volumes of short sales' which is what Virginian restated. She was unable to determine whether any of those were illegal short sales due to a lack of funds, but there is nothing ambiguous about her opinion that there were short sales. Personally, I'm totally convinced there were, but that they were sales by RA's discount buyers who then had to wait to get their shares from him before they could cover the sale.
"Additionally, given that a cause of action for illegal trading might exist, the receiver engaged an expert with a long history as a compliance officer in the securities industry to investigate the allegation. The expert obtained a great deal of information showing there were high volumes of short sales, but the task of determining whether any of these short sales were illegal could not be accomplished with the minimal funds held by the Receivership."
headcounselor: I very seriously doubt anyone will find a lawyer or law firm who will file a class-action suit on a contingency basis. So, someone would have to take the lead on getting a bunch of guys to cough up a retainer, guys who will be willing to pay hourly rates and expenses.
There will be no money to get from CyberKey or Plant. That leaves Big Apple and Heaton, essentially, and the case against them is weakened by the fact that neither is a subject of either the civil or criminal charges.
Is it possible someone would do it for a contingency fee? Maybe, but highly unlikely.