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can anyone explain how a stock chart has negative money flow yet the accumulation/distribution is positive? any thoughts as to how the number is + yet the money flow # is negative? any explanation for this?
capt any thoughts on esww?
alydyr ive never been associated with amway, it would appear youve been stuck on that assumption since 2000..its a shame there are individuals such as yourself who drum up these false allegations over and over your story is getting old!!!
capt can you explain how a stock could have a negative money flow # yet the accumulation/distrib # is positive?
capt or tim any thoughts on TIDE? looks like the money flow has been positive for 3 months as well as the accum/distrib any thoughts?
good looking chart with nice revenue #'s for a small company with govt contracts, any thoughts on a good entry price?
sub can you send me the l2 for tlyn?
news...Telynx, Inc.'s Israel-based R&D Center Nears Completion of Design Phase for its New Telecom Inventory Management and Provisioning Software
SHERMAN OAKS, Calif., Jan 19, 2005 (PRIMEZONE via COMTEX) -- Telynx, Inc. (Pink Sheets:TLYN), a provider of network inventory management and provisioning software solutions to major telecommunications service providers, today provided further details on its software development project. The project's goal is to develop the most flexible and intelligent Inventory Management and Provisioning Software in the market today. Project personnel include two Project Designers working in San Francisco whose responsibilities are to design the infrastructure and framework of the product. The software code is being developed by the Company's team of engineers located in TLYN's Research and Development Center in Northern Israel. At present, the team consists of three engineers and it is the Company's intention to hire additional engineers as needed to meet production requirements. The design phase of the project has been in progress since June 2004 and should be finalized in a month. It will take 3 to 4 months for the code to be completed and 2 months for testing.
CEO Paul Mataras stated: "Based on our timeline as outlined above, we expect the software to be ready for commercialization by the end of the second quarter of 2005. We are confident that this new software will be a market leader in the $3 billion Inventory Management space. We will continue to keep investors well informed of our progress in this major software development project."
Telynx, Inc. is pleased to announce that a letter to shareholders will be released in short order to inform investors of all the changes that were instituted last year to put the Company back on track. The letter will also discuss the Company's plans to generate revenue to maximize shareholder value.
About Telynx Inc.
Telynx Inc. designs and markets a line of software products and related services to telecommunications service providers. Telynx's software is designed to track inventory, provide new telecommunications services and provide a tool for managing network bandwidth. The company's software complies and supports the Tele-Management forum, OSS/J, 3GPP and 3GPP2 initiatives for all of its products. Its mission is to deliver an end-to-end product and solution set that directly impacts its customers' cost of providing a wide range of complex quality services in a timely fashion.
For more information please contact Curt Kramer at (516) 498-9890 or visit the Company website at www.telynx.net.
Safe Harbor Statement
This release contains forward-looking statements with respect to the results of operations and business of Telynx, Inc., which involves risks and uncertainties. The Company's actual future results could materially differ from those discussed. The company intends that such statements about the Company's future expectations, including future revenues and earnings, and all other forward looking statements be subject to the "Safe Harbors" provision of the Private Securities Litigation Reform Act of 1995.
SOURCE: Telynx, Inc.
By Staff
CONTACT: For Telynx, Inc.
XXR Consulting
Curt Kramer
516-498-9890
curtkramer6666@aol.com
xxrconsulting@yahoo.com
www.telynx.net
(C) 2005 PRIMEZONE, All rights
sub can you please send me the l2 for tlyn
thanks
sub..if you have the time can you send me the l2 for tlyn..thanks
sub if you have the time could you please send me todays L2 for TLYN? thanks
sub can you send me the l2 for tlyn? thanks
sub can you please send me the l2 for tlyn thanks and happy new year
SUB can you please send me the L2 list for tlyn? thanks
sub thats fine
sub can you send me the daily l2 download for today? thanks
sub can you send me the mm l2 list...seems like you may have forgotten about me...AGAIN!!! thanks!!!
why would you care you have no financial interest in telynx why is it bothering you so much? how if or where? have you called the company yourself? if not, why ask others when you obviously have so much time on your hands?
rk dont you find it interesting that someone with over 8300 posts on the telynx ragingbull is asking you questions about your thoughts or insights or conversations with the telynx ceo? for a individual to have such negative thoughts about the company since 2000, dont you think he should be calling and identifying himself as "EVEN" and asking the questions to cover his concerns about the direction of the company?
unless the individual was short or against seeing this company succeed, why hide your identity and not make the call, correct?
and of cource make ocver 8300 posts on a message where you have no financial interest?
jmho
SUB CAN YOU SEND ME THE MM LINE-UP LIST?
sub can you post TLYN mm line-up? thanks
please send me the l2 list
rk..it appears telynx has a good relationship with hp...found this doing a google for hp/telynx looks to be dated from 2003...telynx mentioned on page 2
SURVIVAL OF THE FITTESTINTREGRATED SERVICE MANAGEMENT FOR TODAY'S ECONOMYIn today's New E-Economy, service-based businesses are working harder than ever before.This new, service-centric computing economy is heavily influencing many markets, but nonemore so than the service provider market. There are countless factors to consider: newtechnologies, new competition, new business models, and new customers who are looking forthe best possible service in the least amount of time. Service providers (SPs) such as thoseinvolved in the telecommunications, information portal, web hosting, application hosting,mobile e-services, infrastructure hosting, enterprise resource planning (ERP), andretail/distribution industries are faced with an extremely competitive landscape and must findways to make themselves stand out in fierce competition. They must provide a rapid speed tomarket for new products and services, increase customer loyalty and retention, and multiplyrevenues.How can service providers provide quality service, generate revenue, attract and retaincustomers, reduce costs, and satisfy investors? They need best-in-class tools to quickly createand supply their services and products. Services must offer the highest quality andperformance, and the companies providing them must be capable of accurately measuring andbilling the services used. It's a technological jungle out there, and only the fittest will survive.According to Dennis Drogseth, Vice President of Enterprise Management Associates, up to 40percent of today's service providers will be non-existent by the end of 2003, in indication thatthe future winners will be those organizations that can quickly and reliably provide newservices to attract and retain customers.Integrated service management, or ISM, allows service providers, Internet businesses, andenterprises the ability to do it all. ISM provides companies with the capabilities to optimizecustomer experiences as well as to transcend their competition in service delivery, assurance,and usage. It provides a complete service integration lifecycle for service definition andcreation, service assurance and usage, pricing, rollout, and order fulfillment with Web-basedcustomer self-service.ISM solutions are architected around an integration bus. This allows for a form of commoninformation exchange between the different management typically used by Service Providerssuch as order entry, process management, billing, inventory management, service and networkprovisioning, and fault and performance management. The framework also uses aworkflow-based process engine and a common information model.ISM is HP's vision and strategic solution for how companies will create, activate, manage, andcharge for services in the Internet-based economy. It is addressing the many challenges facingtoday's service providers through this software-based platform solution set. HP's ISM software
--------------------------------------------------------------------------------
Page 2
solutions are based on HP OpenView, HP Smart Internet Usage, and the HP Process Manager.Working with HP Netaction products, they are designed to give Service Providers thestrongest means to help them meet their objectives and maximize efficiencies by furnishingthem with a scalable, extensible framework that can be applied to a variety of providerprofiles and network infrastructure types. Companies are now also able to automate theirdelivery, billing, and usage processes as well as directly control and manage them. The ISMsolution combines the strengths of industry leaders HP, Alcatel, Astracon, Cisco Systems,Cygent, IGS, Portal Software, Syndesis, Telynx, webMethods, and TIBCO by providingcompanies with best-of-breed applications, state-of-the-art hardware, services, and support inone single comprehensive, customizable, and flexible offering.Today's businesses operate with multi-platforms and multi-vendor products. The HPOpenView ISM solutions are an integrated toolset of powerful end-to-end software, services,and support solutions. Its multi-platform capabilities allow for heterogeneous computingenvironment management on HP and non-HP platforms both inside and across Internetfirewalls. Its flexible architecture combines easily with Smart Plug-Ins (SPIs) for BluestoneTotal-e-Business, Cisco Networks, BEA Web Logic Server, Resonate Central Dispatch,iPlanet Application Server, and Oracle Enterprise Manager. It also integrates with third-partysoftware, legacy systems, and industry-standard integration buses.Three end-to-end business processes have been identified that are specific to serviceproviders:Service fulfillment (also known as service delivery)q Service billing (also known as service usage)q Service assuranceq Service delivery (SD) is the IT infrastructure that manages the process of the distribution of aservice that has been requested by a subscriber. It involves all the software, hardware, andservices that allow integration of all components participating to the delivery process likenetwork inventory, service activation, and order management. Service delivery assures thatthe service is delivered in the least amount of time with the expected quality.Service usage (SU) is the IT infrastructure that manages the process of the collection,mediation, and analysis of usage data. It involves the hardware, software, and services thatexecute a solution that allow integration of all components participating to the usage processsuch as business intelligence and usage mediation.Service assurance is the IT infrastructure that makes certain that services are maintained withthe specific quality subscribers expect and have paid for. A collection of software, hardware,and services implement a solution of all the components participating in the assurance processlike fault management, performance management, and trouble ticketing. Service assuranceguarantees high quality of service and quick resolution with minimal subscriber disruption inthe event of infrastructure degradation or fault.HP offers a portfolio of ISM solutions for today's service providers, enterprise, and Internetbusinesses. With the extensive array of management solutions available, customers canimplement ISM in a manner best suited to their needs, whether it is all at once or one step at atime. For those companies that want to get to market faster with new services and increasecustomer support and loyalty, survival of the fittest could never have been easier or moreprofitable.
--------------------------------------------------------------------------------
Page 3
Privacy StatementLegal Notices© 1994-2001 Hewlett-Packard Company
TLYN .038x1 .045x2 vol 362,406 ..11mms... Historical Time & Sales
Stock Symbol Trade Date Price Range Trade Size Trades per Page
Today 1 day ago 2 days ago 3 days ago 4 days ago Min Max Min Max (Max 400)
TLYN(2004/12/02)
Time (EST) Volume Price Exchange Bought/Sold Tran/Type Legend
16:00:18 5000 0.04 - OTCEQ_NBB T (F)
15:58:51 5000 0.045 + OTCEQ_NBB
15:58:48 5000 0.04 - OTCEQ_NBB
15:58:42 5000 0.045 + OTCEQ_NBB
15:58:39 10000 0.04 + OTCEQ_NBB
15:58:21 5000 0.04 + OTCEQ_NBB
15:58:09 5000 0.04 + OTCEQ_NBB
15:57:54 5000 0.039 + OTCEQ_NBB
15:52:42 5000 0.035 + OTCEQ_NBB
15:52:39 4580 0.035 + OTCEQ_NBB
15:52:39 400 0.035 + OTCEQ_NBB
15:52:36 10000 0.032 - OTCEQ_NBB
15:52:33 5000 0.035 + OTCEQ_NBB
15:52:33 10000 0.035 + OTCEQ_NBB
15:17:42 10000 0.03 - OTCEQ_NBB
15:17:39 5000 0.03 - OTCEQ_NBB
15:17:27 25000 0.035 + OTCEQ_NBB
15:17:24 2500 0.03 + OTCEQ_NBB
15:10:30 15000 0.025 + OTCEQ_NBB
14:29:42 3000 0.025 + OTCEQ_NBB
14:29:15 10000 0.02 - OTCEQ_NBB
14:28:27 5000 0.02 - OTCEQ_NBB
14:15:33 20000 0.03 + OTCEQ_NBB
13:21:15 10000 0.03 + OTCEQ_NBB
12:09:33 10000 0.02 - OTCEQ_NBB
11:12:57 1116 0.03 + OTCEQ_NBB
10:42:06 10000 0.025 - OTCEQ_NBB
10:20:12 14000 0.03 + OTCEQ_NBB
09:53:54 5000 0.025 - OTCEQ_NBB
09:42:39 7000 0.035 + OTCEQ_NBB
09:42:12 20000 0.035 + OTCEQ_NBB
09:41:36 5000 0.03 - OTCEQ_NBB
09:41:33 5000 0.035 + OTCEQ_NBB
09:41:33 5000 0.035 + OTCEQ_NBB
09:40:57 30000 0.02 - OTCEQ_NBB
09:39:33 5000 0.021 + OTCEQ_NBB
09:39:00 8810 0.021 + OTCEQ_NBB
09:36:57 5000 0.02 + OTCEQ_NBB
09:36:18 10000 0.02 + OTCEQ_NBB
09:35:30 5000 0.02 + OTCEQ_NBB (XF)
09:35:27 5000 0.02 + OTCEQ_NBB
09:35:24 5000 0.02 + OTCEQ_NBB (XF)
09:35:24 5000 0.02 + OTCEQ_NBB
09:34:33 20000 0.02 + OTCEQ_NBB
09:33:57 6000 0.02 OTCEQ_NBB
rk.. i periodically check the site and noticed the update after clicking on the home page, the site looks great, doesnt appear to be complete just yet with several sections reading coming soon, to me that sounds promising!! the pr yesterday was encouraging...what are your thoughts?
News for 'TLYN' - (Telynx, Inc. Initiates Investor Awareness Program)
SHERMAN OAKS, Calif., Nov 30, 2004 (PRIMEZONE via COMTEX) -- Telynx, Inc.
(Pink
Sheets:TLYN), a provider of network inventory management and provisioning
software solutions to major telecommunications service providers, today
announced the launch of an investor awareness program. This program will
provide
current and potential investors information on the status of the company
and its
progress toward attaining profitability and gaining market share in the
Operations Support Systems (OSS) market.
During the past several months, TLYN has made significant progress towards
attaining profitability by contracting and implementing new clients. The
Company
is well positioned in the OSS market, in particular with respect to the
Inventory Management space supported by the strength of its proprietary
software
products and related services. The Inventory Management Market is valued
at over
$1 billion. TLYN will continue to aggressively pursue this vertical market
while
pushing its way into both the service management and network management
space as
well. The strategy is in line with industry trends and moves TLYN much
closer to
being part of the live network. These two combined spaces make up over 50%
of
the overall OSS market and represent about a $10 billion market growing at
double digit rates over the next five years.
TLYN will be reporting to its shareholders and those interested in the
Company
over the next few months the results of its efforts and accomplishments to
expand its current line of business and also to diversify its business
into
other lucrative markets. Management believes these efforts should enable
TLYN to
reach profitability and significantly strengthen the company's financial
position.
Paul Mataras, CEO of TLYN, stated, "The Investor Awareness program is
designed
to document our efforts and the results of those efforts. Our intention is
to
issue periodic press releases to inform the investing public of our
progress."
In order to disseminate its information, TLYN has retained the services of
a
firm with expertise in market awareness of Pink Sheet and OTC Bulletin
Board
companies.
About Telynx Inc.
Telynx Inc. designs and markets a line of software products and related
services
to telecommunications service providers. Telynx's software is designed to
track
inventory, provide new telecommunications services and provide a tool for
managing network bandwidth. The company's software complies and supports
the
Tele-Management forum, OSS/J, 3GPP and 3GPP2 initiatives for all of its
products. Its mission is to deliver an end-to-end product and solution set
that
directly impacts its customers' cost of providing a wide range of complex
quality services in a timely fashion.
For more information please contact Curt Cramer at (886) 498-9890 or visit
the
Company website at www.telynx.net.
Safe Harbor Statement
This release contains forward-looking statements with respect to the
results of
operations and business of Telynx, Inc., which involves risks and
uncertainties.
The Company's actual future results could materially differ from those
discussed. T he company intends that such statements about the Company's
future
expectations, including future revenues and earnings, and all other
forward
looking statements be subject to the "Safe Harbors" provision of the
Private
Securities Litigation Reform Act of 1995.
SOURCE: Telynx, Inc.
By Staff
CONTACT: XXR Consulting Curt Kramer (866)
498-9890 curtkramer@yahoo.com xxrconsulting@yahoo.com
URL: www.telynx.net
(C) 2004 PRIMEZONE, All rights reserved.
-0-
SUBJECT CODE: SOFTWARE
TELECOMMUNICATIONS
Product Services Announcement
News for 'TLYN' - (Telynx, Inc. Initiates Investor Awareness Program)
SHERMAN OAKS, Calif., Nov 30, 2004 (PRIMEZONE via COMTEX) -- Telynx, Inc.
(Pink
Sheets:TLYN), a provider of network inventory management and provisioning
software solutions to major telecommunications service providers, today
announced the launch of an investor awareness program. This program will
provide
current and potential investors information on the status of the company
and its
progress toward attaining profitability and gaining market share in the
Operations Support Systems (OSS) market.
During the past several months, TLYN has made significant progress towards
attaining profitability by contracting and implementing new clients. The
Company
is well positioned in the OSS market, in particular with respect to the
Inventory Management space supported by the strength of its proprietary
software
products and related services. The Inventory Management Market is valued
at over
$1 billion. TLYN will continue to aggressively pursue this vertical market
while
pushing its way into both the service management and network management
space as
well. The strategy is in line with industry trends and moves TLYN much
closer to
being part of the live network. These two combined spaces make up over 50%
of
the overall OSS market and represent about a $10 billion market growing at
double digit rates over the next five years.
TLYN will be reporting to its shareholders and those interested in the
Company
over the next few months the results of its efforts and accomplishments to
expand its current line of business and also to diversify its business
into
other lucrative markets. Management believes these efforts should enable
TLYN to
reach profitability and significantly strengthen the company's financial
position.
Paul Mataras, CEO of TLYN, stated, "The Investor Awareness program is
designed
to document our efforts and the results of those efforts. Our intention is
to
issue periodic press releases to inform the investing public of our
progress."
In order to disseminate its information, TLYN has retained the services of
a
firm with expertise in market awareness of Pink Sheet and OTC Bulletin
Board
companies.
About Telynx Inc.
Telynx Inc. designs and markets a line of software products and related
services
to telecommunications service providers. Telynx's software is designed to
track
inventory, provide new telecommunications services and provide a tool for
managing network bandwidth. The company's software complies and supports
the
Tele-Management forum, OSS/J, 3GPP and 3GPP2 initiatives for all of its
products. Its mission is to deliver an end-to-end product and solution set
that
directly impacts its customers' cost of providing a wide range of complex
quality services in a timely fashion.
For more information please contact Curt Cramer at (886) 498-9890 or visit
the
Company website at www.telynx.net.
Safe Harbor Statement
This release contains forward-looking statements with respect to the
results of
operations and business of Telynx, Inc., which involves risks and
uncertainties.
The Company's actual future results could materially differ from those
discussed. T he company intends that such statements about the Company's
future
expectations, including future revenues and earnings, and all other
forward
looking statements be subject to the "Safe Harbors" provision of the
Private
Securities Litigation Reform Act of 1995.
SOURCE: Telynx, Inc.
By Staff
CONTACT: XXR Consulting Curt Kramer (866)
498-9890 curtkramer@yahoo.com xxrconsulting@yahoo.com
URL: www.telynx.net
(C) 2004 PRIMEZONE, All rights reserved.
-0-
SUBJECT CODE: SOFTWARE
TELECOMMUNICATIONS
Product Services Announcement
TLYN L2 can someone post the mm line-up?
can someone post the L2 for TLYN? thanks
interesting quote "and regulators, who often rely on the short-seller's tips and sometimes share information to benefit their own investigations."
OT: Stock Adviser, on Trial for Fraud, Is Portrayed as a Crusader
By ERIC DASH
Published: November 2, 2004
Anthony Elgindy, the San Diego stock adviser accused of using confidential government information from an F.B.I. agent in a stock manipulation scheme, looked attentively at the jury in federal court in Brooklyn yesterday as his lawyers and prosecutors presented conflicting accounts of his business behavior.
As Mr. Elgindy appeared to listen carefully, prosecutors accused him of participating in a stock-selling arrangement by conspiring with Jeffrey A. Royer, an F.B.I. agent who was also in court, to publish confidential government information about small, thinly traded companies as a way of gaining an unfair advantage in the market.
His lawyers said that Mr. Elgindy was using his stock-advisory Web sites to expose phony companies, and that the conspiracy the prosecutors suggested did not make sense.
Mr. Elgindy took notes as prosecutors portrayed him as an opportunist, seeking personal profit. His lawyers, quoting a government lawyer he once assisted, described him as a "crusader for propriety in the marketplace."
He sat silently, with his family looking on from the front row of the courtroom, while prosecutors said that Mr. Elgindy boarded a plane in April using a false name and credentials. His lawyer dismissed the claim as a red herring and "putty to fill in the holes" in the government's case.
But what the jury never heard, and its admissibility is still to be decided, is perhaps the most speculative contention in the case: that Mr. Elgindy knew in advance about the Sept. 11 terrorist attacks, and rather than report the threat, he attempted to profit from the attacks.
Judge Raymond J. Dearie said in a pretrial session yesterday that he would not allow the claim in opening statements but that he would broach the subject as the trial continued.
"I think it is part and parcel to the case," Judge Dearie said, "but I want to know what the government wants to elicit from its witnesses."
The trial is expected to shed some light on the relationship between short-sellers like Mr. Elgindy, who may profit by raising questions about companies, and regulators, who often rely on the short-seller's tips and sometimes share information to benefit their own investigations.
In a straightforward opening statement, prosecutors outlined their case against Mr. Elgindy. "This is a case about fraud, corruption and betrayal," said Valerie Szczepanik, assistant district attorney.
Ms. Szczepanik contended that Mr. Elgindy and his associates used information obtained from F.B.I. databases to drive down the price of stocks they were trading or planned to sell short. From November 2000 to May 2002, she said, Mr. Royer provided Mr. Elgindy and Derrick Cleveland, a business associate, with information about investigations into small and thinly traded companies. Mr. Cleveland testified yesterday as a government witness in exchange for pleading guilty to a related securities fraud conspiracy charge.
Ms. Szczepanik said that under the pretext of working to expose fraudulent companies, Mr. Elgindy would secretly sell his stocks short and then would release negative news about the companies to subscribers of two Web sites he operated, hoping to drive down the price of the stocks even further to maximize his gain.
Ms. Szczepanik said that Mr. Elgindy was an opportunist "who saw Agent Royer as his winning lottery ticket." Prosecutors also accused Mr. Elgindy of engaging in extortion by using information obtained through the government databases to threaten a Florida company and its chief executive.
Barry Berke, a lawyer for Mr. Elgindy, said that his client deserved to be praised, not prosecuted, for his work exposing phony companies. He used the opening statement to debunk the government's case.
He conceded that Mr. Elgindy was a businessman, but he said that his client and the investors who subscribed to his Web sites also wanted to expose fraud.
"These people would become like junior detectives," Mr. Berke said, citing several company schemes that he contended Mr. Elgindy helped uncover and prodded the government to examine.
He said that Mr. Elgindy experienced death threats and lawsuits and was a "lightning rod" for those who did not like him challenging their businesses.
Federal prosecutors acknowledged that Mr. Elgindy sometimes contacted law enforcement officials, but Ms. Szczepanik maintained that "any tips to law enforcement were to enrich his own pockets."
ot:"The trial is expected to shed some light on the relationship between short-sellers like Mr. Elgindy, who may profit by raising questions about companies, and regulators, who often rely on the short-seller's tips and sometimes share information to benefit their own investigations."
OT: Stock Adviser, on Trial for Fraud, Is Portrayed as a Crusader
By ERIC DASH
Published: November 2, 2004
Anthony Elgindy, the San Diego stock adviser accused of using confidential government information from an F.B.I. agent in a stock manipulation scheme, looked attentively at the jury in federal court in Brooklyn yesterday as his lawyers and prosecutors presented conflicting accounts of his business behavior.
As Mr. Elgindy appeared to listen carefully, prosecutors accused him of participating in a stock-selling arrangement by conspiring with Jeffrey A. Royer, an F.B.I. agent who was also in court, to publish confidential government information about small, thinly traded companies as a way of gaining an unfair advantage in the market.
His lawyers said that Mr. Elgindy was using his stock-advisory Web sites to expose phony companies, and that the conspiracy the prosecutors suggested did not make sense.
Mr. Elgindy took notes as prosecutors portrayed him as an opportunist, seeking personal profit. His lawyers, quoting a government lawyer he once assisted, described him as a "crusader for propriety in the marketplace."
He sat silently, with his family looking on from the front row of the courtroom, while prosecutors said that Mr. Elgindy boarded a plane in April using a false name and credentials. His lawyer dismissed the claim as a red herring and "putty to fill in the holes" in the government's case.
But what the jury never heard, and its admissibility is still to be decided, is perhaps the most speculative contention in the case: that Mr. Elgindy knew in advance about the Sept. 11 terrorist attacks, and rather than report the threat, he attempted to profit from the attacks.
Judge Raymond J. Dearie said in a pretrial session yesterday that he would not allow the claim in opening statements but that he would broach the subject as the trial continued.
"I think it is part and parcel to the case," Judge Dearie said, "but I want to know what the government wants to elicit from its witnesses."
The trial is expected to shed some light on the relationship between short-sellers like Mr. Elgindy, who may profit by raising questions about companies, and regulators, who often rely on the short-seller's tips and sometimes share information to benefit their own investigations.
In a straightforward opening statement, prosecutors outlined their case against Mr. Elgindy. "This is a case about fraud, corruption and betrayal," said Valerie Szczepanik, assistant district attorney.
Ms. Szczepanik contended that Mr. Elgindy and his associates used information obtained from F.B.I. databases to drive down the price of stocks they were trading or planned to sell short. From November 2000 to May 2002, she said, Mr. Royer provided Mr. Elgindy and Derrick Cleveland, a business associate, with information about investigations into small and thinly traded companies. Mr. Cleveland testified yesterday as a government witness in exchange for pleading guilty to a related securities fraud conspiracy charge.
Ms. Szczepanik said that under the pretext of working to expose fraudulent companies, Mr. Elgindy would secretly sell his stocks short and then would release negative news about the companies to subscribers of two Web sites he operated, hoping to drive down the price of the stocks even further to maximize his gain.
Ms. Szczepanik said that Mr. Elgindy was an opportunist "who saw Agent Royer as his winning lottery ticket." Prosecutors also accused Mr. Elgindy of engaging in extortion by using information obtained through the government databases to threaten a Florida company and its chief executive.
Barry Berke, a lawyer for Mr. Elgindy, said that his client deserved to be praised, not prosecuted, for his work exposing phony companies. He used the opening statement to debunk the government's case.
He conceded that Mr. Elgindy was a businessman, but he said that his client and the investors who subscribed to his Web sites also wanted to expose fraud.
"These people would become like junior detectives," Mr. Berke said, citing several company schemes that he contended Mr. Elgindy helped uncover and prodded the government to examine.
He said that Mr. Elgindy experienced death threats and lawsuits and was a "lightning rod" for those who did not like him challenging their businesses.
Federal prosecutors acknowledged that Mr. Elgindy sometimes contacted law enforcement officials, but Ms. Szczepanik maintained that "any tips to law enforcement were to enrich his own pockets."
SUB can you post a L2 for TLYN listing all mm quotes
interceptor ask him if he is financially profitting directly or indirectly from the trading of NMKT stock...to post with that much frequency..how many $$$ are at stake, you honestly think his posting activity is for leisure?
can someone please post L2 for TLYN liting all the mms bid/asks
thanks
can someone post the L2 for TLYN..listing all the mms
thanks
Thursday , July 22, 2004 16:57 ET
PITTSBURGH, Jul 22, 2004 /PRNewswire via COMTEX/ -- Virtual Devices Inc. (VDI) and iBIZ Technology Corp. (OTC Bulletin Board: IBZT) today announced the signing of worldwide exclusive license and distribution agreement. Virtual Devices, headquartered in Pittsburgh, specializes in the development of innovative virtual input device technologies including design and development of a Virtual Keyboard.
VDI owns key intellectual property rights, patents and patent-pending applications related to its virtual data input products. Virtual Devices provides significant advantages through the dynamics of their virtual keyboard design, including patent protection and control of the intellectual property.
By combining the engineering and design acumen of VDI with the marketing and distribution strengths of iBIZ, our two companies will benefit mobile computing customers like never before," said Peter J. Hanowich, President and Chief Executive Officer of Virtual Devices, Inc.
The virtual keyboard uses light to project a full-sized computer keyboard onto almost any surface, and disappears when not in use. Used with Smart Phones, PDAs, and any computing platform the Virtual Keyboard provides a practical way to do email, word processing and spreadsheet tasks, allowing the user to leave the laptop computer at home.
"iBIZ is well-known for its innovative and practical mobile computing accessories. Adding our products to the iBIZ lineup makes perfect sense," added Steve Montellese, Chairman of the Board and Chief Technical Officer of VDI. "We look forward to combining the strengths of these two strong and customer-focused companies."
Ken Schilling, President and CEO of iBIZ, commented, "After careful due diligence we have concluded VDI adds significant value to our company through VDI's portfolio of innovative and forward-looking products, including a robust virtual keyboard design."
About Virtual Devices, Inc.
Virtual Devices, Inc., a Pittsburgh based company, was originally a leading supplier of Machine Vision quality control systems to industry. Based on this knowledge and background VDI developed and patented Virtual Keyboard and Input technology for use in portable computing devices. For more information visit www.virtualdevices.net or call 412-492-8500.
About iBIZ Technology Corp.
iBIZ is a leading manufacturer and distributor of accessories for personal digital assistant (PDA) and hand-held devices. iBIZ is recognized for innovative, high-quality, competitively priced products available through major retailers. For more information on iBIZ products and services, please visit www.ibizpda.com, email sales@ibizcorp.com, or call 1-800 234-0707.
SOURCE Virtual Devices, Inc.
CONTACT: Pete Hanowich of Virtual Devices, Inc., +1-412-492-8500
URL: http://www.ibizcorp.com
http://www.virtualdevices.net
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Naked shorting into $0.0001, or, **Cellar Boxing**
There’s a form of the securities fraud known as naked short selling that is becoming very popular and lucrative to the Market Makers that practice it. It is known as “Cellar boxing” and it has to do with the fact that the NASD and the SEC had to arbitrarily set a minimum level at which a stock can trade. This level was set at $.0001 or one-one hundredth of a penny. This level is appropriately referred to as “the cellar”. This $.0001 level can be used as a "backstop" for all kinds of market maker and naked short selling manipulations.
“Cellar boxing” has been one of the security frauds du jour since 1999 when the market went to a “decimalization” basis. In the pre-decimalization days the minimum market spread for most stocks was set at 1/8th of a dollar and the market makers were guaranteed a healthy “spread”. Since decimalization came into effect, those one-eighth of a dollar spreads now are often only a penny as you can see in Microsoft’s quote throughout the day. Where did the unscrupulous MMs go to make up for all of this lost income? They headed "south" to the OTCBB and Pink Sheets where the protective effects from naked short selling like Rule 10-a, and NASD Rules 3350, 3360, and 3370 are nonexistent.
The unique aspect of needing an arbitrary “cellar” level is that the lowest possible incremental gain above this cellar level represents a 100% spread available to MMs making a market in these securities. When compared to the typical spread in Microsoft of perhaps four-tenths of 1%, this is pretty tempting territory. In fact, when the market is no bid to $.0001 offer there is theoretically an infinite spread.
In order to participate in “cellar boxing”, the MMs first need to pummel the price per share down to these levels. The lower they can force the share price, the larger are the percentage spreads to feed off of. This is easily done via garden variety naked short selling. In fact if the MM is large enough and has enough visibility of buy and sell orders as well as order flow, he can simultaneously be acting as the conduit for the sale of nonexistent shares through Canadian co-conspiring broker/dealers and their associates with his right hand at the same time that his left hand is naked short selling into every buy order that appears through its own proprietary accounts. The key here is to be a dominant enough of a MM to have visibility of these buy orders. This is referred to as "broker/dealer internalization" or naked short selling via "desking" which refers to the market makers trading desk. While the right hand is busy flooding the victim company's market with "counterfeit" shares that can be sold at any instant in time the left hand is nullifying any upward pressure in share price by neutralizing the demand for the securities. The net effect becomes no demonstrable demand for shares and a huge oversupply of shares which induces a downward spiral in share price.
In fact, until the "beefed up" version of Rule 3370 (Affirmative determination in writing of "borrowability" by settlement date) becomes effective, U.S. MMs have been "legally" processing naked short sale orders out of Canada and other offshore locations even though they and the clearing firms involved knew by history that these shares were in no way going to be delivered. The question that then begs to be asked is how "the system" can allow these obviously bogus sell orders to clear and settle. To find the answer to this one need look no further than to Addendum "C" to the Rules and Regulations of the NSCC subdivision of the DTCC. This gaping loophole allows the DTCC, which is basically the 11,000 b/ds and banks that we refer to as "Wall Street”, to borrow shares from those investors naive enough to hold these shares in "street name" at their brokerage firm. This amounts to about 95% of us. Theoretically, this “borrow” was designed to allow trades to clear and settle that involved LEGITIMATE 1 OR 2 DAY delays in delivery. This "borrow" is done unbeknownst to the investor that purchased the shares in question and amounts to probably the largest "conflict of interest" known to mankind. The question becomes would these investors knowingly loan, without compensation, their shares to those whose intent is to bankrupt their investment if they knew that the loan process was the key mechanism needed for the naked short sellers to effect their goal? Another question that arises is should the investor's b/d who just earned a commission and therefore owes its client a fiduciary duty of care, be acting as the intermediary in this loan process keeping in mind that this b/d is being paid the cash value of the shares being loaned as a means of collateralizing the loan, all unbeknownst to his client the purchaser.
An interesting phenomenon occurs at these "cellar" levels. Since NASD Rule 3370 allows MMs to legally naked short sell into markets characterized by a plethora of buy orders at a time when few sell orders are in existence, a MM can theoretically "legally" sit at the $.0001 level and sell nonexistent shares all day long because at no bid and $.0001 ask there is obviously a huge disparity between buy orders and sell orders. What tends to happen is that every time the share price tries to get off of the cellar floor and onto the first step of the stairway at $.0001 there is somebody there to step on the hands of the victim corporation's market.
Once a given micro cap corporation is “boxed in the cellar” it doesn’t have a whole lot of options to climb its way out of the cellar. One obvious option would be for it to reverse split its way out of the cellar but history has shown that these are counter-productive as the market capitalization typically gets hammered and the post split share price level starts heading back to its original pre-split level.
Another option would be to organize a sustained buying effort and muscle your way out of the cellar but typically there will, as if by magic, be a naked short sell order there to meet each and every buy order. Sometimes the shareholder base can muster up enough buying pressure to put the market at $.0001 bid and $.0002 offer for a limited amount of time. Later the market makers will typically pound the $.0001 bids with a blitzkrieg of selling to wipe out all of the bids and the market goes back to no bid and $.0001 offer. When the weak-kneed shareholders see this a few times they usually make up their mind to sell their shares the next time that a $.0001 bid appears and to get the heck out of Dodge. This phenomenon is referred to as “shaking the tree” for weak-kneed investors and it is very effective.
At times the market will go to $.0001 bid and $.0003 offer. This sets up a juicy 200% spread for the MMs and tends to dissuade any buyers from reaching up to the "lofty" level of $.0003. If a $.0002 bid should appear from a MM not "playing ball" with the unscrupulous MMs, it will be hit so quickly that Level 2 will never reveal the existence of the bid. The $.0001 bid at $.0003 offer market sets up a "stalemate" wherein market makers can leisurely enjoy the huge spreads while the victim company slowly dilutes itself to death by paying the monthly bills with "real" shares sold at incredibly low levels. Since all of these development-stage corporations have to pay their monthly bills, time becomes on the side of the naked short sellers.
At times it almost seems that the unscrupulous market makers are not actively trying to kill the victim corporation but instead want to milk the situation for as long of a period of time as possible and let the corporation die a slow death by dilution. The reality is that it is extremely easy to strip away 99% of a victim company’s share price or market cap and to keep the victim corporation “boxed“ in the cellar, but it really is difficult to kill a corporation especially after management and the shareholder base have figured out the game that is being played at their expense.
As the weeks and months go by the market makers make a fortune with these huge percentage spreads but the net aggregate naked short positions become astronomical from all of this activity. This leads to some apprehension amongst the co-conspiring MMs. The predicament they find themselves in is that they can’t even stop naked short selling into every buy order that appears because if they do the share price will gap and this will put tremendous pressures on net capital reserves for the MMs and margin maintenance requirements for the co-conspiring hedge funds and others operating out of the more than 13,000 naked short selling margin accounts set up in Canada. And of course covering the naked short position is out of the question since they can’t even stop the day-to-day naked short selling in the first place and you can't be covering at the same time you continue to naked short sell.
What typically happens in these situations is that the victim company has to massively dilute its share structure from the constant paying of the monthly burn rate with money received from the selling of “real” shares at artificially low levels. Then the goal of the naked short sellers is to point out to the investors, usually via paid “Internet bashers”, that with the, let’s say, 50 billion shares currently issued and outstanding, that this lousy company is not worth the $5 million market cap it is trading at, especially if it is just a shell company whose primary business plan was wiped out by the naked short sellers’ tortuous interference earlier on.
The truth of the matter is that the single biggest asset of these victim companies often becomes the astronomically large aggregate naked short position that has accumulated throughout the initial “bear raid” and also during the “cellar boxing” phase. The goal of the victim company now becomes to avoid the 3 main goals of the naked short sellers, namely: bankruptcy, a reverse split, or the forced signing of a death spiral convertible debenture out of desperation. As long as the victim company can continue to pay the monthly burn rate, then the game plan becomes to make some of the strategic moves that hundreds of victim companies have been forced into doing which includes name changes, CUSIP # changes, cancel/reissue procedures, dividend distributions, amending of by-laws and Articles of Corporation, etc. Nevada domiciled companies usually cancel all of their shares in the system, both real and fake, and force shareholders and their b/ds to PROVE the ownership of the old “real” shares before they get a new “real” share. Many also file their civil suits at this time also. This indirect forcing of hundreds of U.S. micro cap corporations to go through all of these extraneous hoops and hurdles as a means to survive, whether it be due to regulatory apathy or lack of resources, is probably one of the biggest black eyes the U.S. financial systems have ever sustained. In a perfect world it would be the regulators that periodically audit the “C” and “D” sub-accounts at the DTCC, the proprietary accounts of the MMs, clearing firms, and Canadian b/ds, and force the buy-in of counterfeit shares, many of which are hiding behind altered CUSIP #s, that are detected above the Rule 11830 guidelines for allowable “failed deliveries” of one half of 1% of the shares issued. U.S. micro cap corporations should not have to periodically “purge” their share structure of counterfeit electronic book entries but if the regulators will not do it then management has a fiduciary duty to do it.
A lot of management teams become overwhelmed with grief and guilt in regards to the huge increase in the number of shares issued and outstanding that have accumulated during their “watch”. The truth however is that as long as management made the proper corporate governance moves throughout this ordeal then a huge number of resultant shares issued and outstanding is unavoidable and often indicative of an astronomically high naked short position and is nothing to be ashamed of. These massive naked short positions need to be looked upon as huge assets that need to be developed. Hopefully the regulators will come to grips with the reality of naked short selling and tactics like "Cellar boxing" and quickly address this fraud that has decimated thousands of U.S. micro cap corporations and the tens of millions of U.S. investors therein.
bonnie it appears these small print trades since the reverse split have indeed altered the bid/ask price, truly amazing that nobody questions these small print trades and the impact they have, imo its manipulative!!
can someone post the L2 for TLYN listing all the mms and their bid/asks? thanks
jurisper whats your explanation for these manipulating small prints on the bid? for $2.50? 500 share trades and under at these BID prices wouldnt you call it manipulation? who would execute such a trade?? any thoughts as to who would trade 100 200 500 shares and knock down the price of stock by hitting the bid with small prints?