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What were the terms of that DEAL ...
that was KILLED?
Of course, that isn't when that nonsense started...
It all started quite a few months earlier, at a shareholders meeting, when JG presented:
Sketchy recollection of the "alleged "order" from Nissan"...
could prove to be difficult since there never was an order. The confusion can be outlined in the following excerpt from a June 16, 2008 CEO update:
Torvec filed a report specifically about this matter...
I'm having trouble determining the closing bid price...
for the Torvec stock on a daily basis. For instance when I checked the bid price yesterday after the close, there was three reports from three sources that all differed.
$.10; $.30; $.33 were the closing bid prices that I remember seeing at the time that the market closed.
Does anyone have a reliable, accurate source of the daily closing bid price?
Torvec's contract to allow a conversion of the debt requires this data.
These closing bid prices would significantly alter the results of the formula that is embedded in that contract.
With low closing bid prices, Asher Enterprises could achieve the goal of acquiring the targeted 4.99% of the common stock.
A late day purchase of long shares can remove the higher near closing bid prices in an effort to leave a low (for and example $.10) price as the official closing bid price.
This method of daily altering the closing bid price is something that this company should expect to occur once the opportunity dates near.
It would be nice (Knot bad) if someone could post the daily closing bid price so that we could get ready to welcome our new shareholder.
Of course, that Pump and Motor wasn't sold...
At that time, it was a testing, research & development opportunity, not a sales opportunity (of just the mechanical portion of the project). Now that it has been reported that IBM has completed the software needed to control the mechanical equipment, the opportunity to sell these inventions, is closer than ever. The software was the missing link that all producers of hydraulic pumps and motors had. Since Torvec's pumps and motors are reported to be superior, this opens up Torvec's opportunity to sell them or license the production rights.
Torvec, however, has sold some of these pumps and motors to others (with Torvec’s proprietor “ECU” software); but, at this point, the focus here should be on the opportunity, not the sales.
http://whitepapers.theregister.co.uk/paper/view/1671/
This is the best news for these Torvec inventions in the last six years (because it will create demand).
We are now facing an opportunity to compete for the sales of Torvec's superior mechanical patented technology as the industry will create the demand for the mechanics now that it has become useful due to the completion of the software.
Think about this: Why do you think that IBM would create software for these mechanical equipment pieces to work together with engines and power supplies? The answer has to be "opportunity to make a profit".
"Torvec's Hydraulics' Position Confirmed" is what we have...
This relationship started on January 13, 2004 when...
HEY!; Who say's it isn't in there? ...
Now that the current bid price is only...
$0.12
for this morning's trades, you may not have to wait much longer to see just how the calculation as contracted will work out.
I just hope that this new shareholder will bring some positive influence to the company.
Torvec's Director-Secretary makes the list of one of...
The calculation that you are trying to make...
should include:
A provision for the contractual interest due.
A provision for the contractual discount rate.
A provision for the contractual average bid price.
A provision for the actual number of shares outstanding.
A provision for the 4.99% share total limitation.
It is hard to imagine that you had included any of these items in your quick calculation.
If you were to include all of the contractual provisions, I believe that you would arrive at a different result.
I didn't say they can get that many...
shares. They can only get 4.99% of the shares. Please look back to my July 29, 2010 post #19628; as that covers the answer to your real question. Do the math yourself, but I think all of that is possible once they get the closing bid price low enough. Remember, it is not the closing transaction price, or the ask price; it is the closing bid price.
Maybe someone could post the daily closing bid price till the note is converted.
That would be directly from the language in...
the SEC 8-K dated July 20, 2010. You can study the whole thing, but the portion that mentions the 4.99% as a "goal" is quotes as follows:
Actually, this is what management said they believe...
On Torvec's first year anniversary of the IVT's...
Patent No. 7,575,534 issue date; it is nice to see you mention the cluster gears that are comprised in that invention's patent.
Just how foolish is it for a company...
to post a blog after spending 50 Million dollars to invent an Iso-Torque differential, then (after nearly a decade) get a world class driver to win races with it and then never mention either the Torvec Iso-Torque differential or its role in the blog that links it to the very few seconds of comments that includes an incidental reference to the Iso-Torque that is buried somewhere in the 15 minute video?
Is Torvec's marketing department out to lunch?
http://www.torvec.com/blog/?p=105
The OEMs that sponsored the event must have...
a reason to be interested in the engineering skills that are presented at these events.
http://www.formulastudent.de/sponsors/
However, I don't think that any of them manufacture the go karts that you are interested in.
Maybe after Asher Enterprises converts their loan into shares, in a few months, we will see a Go Kart division.
The results are in for the FSC Germany...
http://www.formulastudent.de/uploads/media/2010_FSC_Competition_Results_overall_01.pdf
Very nice results RIT.
According to the loan deal terms, the strategy...
for Asher Enterprises, Inc's position will be enhanced by accumulating shares from the current shareholders who are trying to make mortgage payments, settle estates and etc..., to provide a long position for them to be liquidated later (just prior to the planned conversion date), enabling them to drive down the bid price without the need for a short position (which would be in violation of the agreement terms), for the term required three days in order to acquire the maximum number of shares at the conversion date.
If and once the bid price goes to about 5.5 cents (due to the dump of these accumulated shares just prior to the conversion date), there will no longer any reason to drive it down, as that will give them the target 5% (~1.88 million shares) of the company ownership for the 60,000 loan (which at that point would be counterproductive).
Could you add this to your daily post?...
Torvec's closing bid price.
This could keep us up to date on the amount of shares that Asher Enterprises, Inc. will be getting for the $57,000 "loan" proceeds.
FRESHWATER TECHNOLOGIES, INC., only needed to use a 40% discount.
http://www.faqs.org/sec-filings/100727/Freshwater-Technologies-Inc_8-K/exhibit10-2.htm
ALTO GROUP HOLDINGS, INC., needed a discount rate of 42%
http://www.faqs.org/sec-filings/100721/Alto-Group-Holdings-Inc_8-K/ex10_2promissorynote.htm
Right, very exciting; proof that the ECU...
work was finished now even though that was announce on November 10, 2004.
The next live race just happens to be...
Formula Student Germany
Where: Hockenheim
When: Wednesday, August 4 at 6:00 am until
Sunday, August 8 at 10:00 pm
as the RIT Formula SAE Racing Team is leaving for Germany in 2 Days.
But, of course the recorded one is just before that...
IsoTorque Racing’s first two wins of the year will finally air on the Versus Network this Saturday July 31 3pm-5pm and Re-airs: August 6th, 4:00 am.
Right, that is one of the other "loans"...
Any chance you checked out the stock performance subsequent to the "loans" to see if any of them had prospered for the 180 days allowed? I'm thinking that the typical result was the conversion of the "loan" to stock. These "loans" seem to have a very one-sided format. I agree, that it is hard to believe that there was a business purpose for such a small loan with such dire consequences. It seems to me that this is all being done with a purpose in mind to reward someone with shares of stock upon a conversion.
According to my calculations it should be on...
Saturday January 15, 2011.
Sorry. Here is something to make you happy...
If you can do the math on this; think about today's closing price, and this mathematical formula that is part of a $60,000 loan which is masking the real deal to have essentially no risk and an embedded chance to make enormous profits on the exercise of an option (which is the real deal).
My personal JG favorite for all times was...
Who says it isn't in there?
We will only know about that once it...
moves forward.
I was just pointing out that there was a forward movement on the "Advanced Vehicle Technology Act of 2009".
It is what it is, that's all.
Keep in mind that this effort started on Jul 17, 2009; and since then, it hasn't moved very quickly but it has all been good.
http://www.truckinginfo.com/news/news-detail.asp?news_id=71115
S. 2843: Advanced Vehicle Technology Act of 2009...
Isn't that a front for the real business?...
You know, loaning money with little risk with the possibility of great rewards?
Well, at least we don't have to worry about shorting activities!
That may be true, but did you notice...
that...
Curt Kramer is the President of ASHER ENTERPRISES, INC.
and...
Curt Kramer is the Assistant General Counsel & Secretary of Navistar?
http://www.argyleforum.com/events/eventimages/09.17.09/mainSpeakers.html
http://markets.ft.com/tearsheets/businessProfile.asp?s=us:NAV
Actually, it might be just another attempt at...
a shot at the "big time".
http://www.faqs.org/sec-filings/100510/ZALDIVA-INC_8-K/
http://www.faqs.org/sec-filings/091218/JAMAICA-JIM-INC_8-K/mycontactcard_8k-ex1002.htm
Did anyone else happen to notice that ...
Rockland Gear won the T-3 Class at Watkins Glen.
Torvec won the T-1 Class at Watkins Glen.
Torvec's Tech Mgr Q & A with Ashur...
http://corvettemafia.com/?p=1352
http://corvettemafia.com/?p=1309
It appears that there are only five drivers...
that have qualified for the T-1 class championship for 2010.
Scott Schmidt San Diego Chevrolet Corvette 1/24 Auto Club Speedway
David Koller Houston Chevrolet Corvette 3/6 TWS
Mike McGinley Kansas City Chevrolet Corvette 5/2 Heartland Park
Tom Sloe Neohio Chevrolet Corvette 5/23 Mid-Ohio
John Heinricy Philadelphia Chevrolet Corvette 6/26 Road America
http://www.scca.com/documents/Club_Points/10-supersweep-qualevent-winners.pdf
I think that was an unexpected surprise too...
However, I don't think that it will diminish Heinricy's ability to finish off the National Championship goal. I think that they will just build another race car that will not only beat this old # 35, but will be able to beat all the other units in that class. They have demonstrated absolute confidence. I also think that if they were concerned about not being able to finish without that particular piece of equipment, then they would not have sold it. My money is on Heinricy and the car that they will build to finish this year’s racing effort.