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Pres1ton & All:
Bankruptcy is not pretty! Shareholders are at the bottom of the list on who gets what, which is nothing after the bond holders, suppliers, employees, lawyers and court fees get their share (everything!). It ain't pretty, period!!
A few years ago the bankruptcy laws were rewritten at the request of the banking industry to protect the banks from ruthless borrowers such credit card holders from deliberate defaulting on their debt. Can you imagine that the lobbyists for the banks convinced Congress that these card holders could cheat the banks and cause them to lose money? And how did they convince the elected officials to make this change that enabled the banks to charge 30% interest on unpaid balances? By contributing large sums of money to the campaign funds used by Congressmen for their re-election!! Special interests are served first over their constituents - - what else is new? Now these banks are being bailed out with $700 billion of dollars of our (taxpayer) money so they don't fail after making bad loans and buying derivatives, etc - GET REAL!!
So, please, I know it hurts to be cheated by USGA's management and lawyers, but as United States of American citizens you are now bigger victims of a Congress and Executive Branch that helps special interests while failing their responsibility to protect all of us. The SEC is so busy right now protecting their own rear end with little time (or budget money) to do anything else. And guess what, the USGA's gang of thieves knew this when they applied for bankruptcy!!
Am I a cynic ? Perhaps, but I think I'm just an OLD REALIST!!
Walt Calahan
Preston, MJ & All:
Have you guys recently checked the goings-on with our Federal Government and Congress? Why are you not more concerned about the monstrous debt being dumped on future generations - - over 1 + trillion dollars and counting!!! This stickup by the management of USGA shareholders is childs play compared to what the financial, automoble, insurance, etc BIG GUYS (GM, AIG, BAC) are taking from all of us taxpaying citizens. Your priorities seem unreal - - - USGA is (was?) a scam !!! Have any of you ever used the Emergency Room facilities of your local hospital, stayed over night there, and then received the bill? USGA is childs play!!!! SEC ? Where was it when the mortgage writers, mortgage salesmen, FRE and FNM were being exploited by the "Friends" of Congress? The unregulated SEC - - and you turned to them for help to crack down on old USGA's insiders? Unreal!!!
Walt Calahan
Pres1ton:
I forgot to add to my previous post the word "Faith", a very simplistic idea but the very foundation of Christian thinking. I gather that you, as I am, are a Christian. Although I have expressed negativity and pessimism when evaluating earthly challenges, my Christian faith has stregthen me through difficult times and has helped me enormously in old age. You have been given the ability to think and decide - - strengthen this gift through faith. You will make mistakes in your earhtly judgments, but don't give up. Have faith, you are not alone.
Walt Calahan
Pres1ton:
One word gets in the way, and it is GREED!!! Man is a selfish animal and has been since the beginning of time. All the "Issims" and religions of the world have tried to change this without success eventually leading to a destructive climax. Best to you and your generation in the years ahead, and learn how to laugh at yourself 'cause you are not alone - - Don't ever give up, ever!
W A Calahan
Pres1ton:
I admire your attitude concerning the mind set you have in evaluating situations. And this late response to your post by me is prompted be the present financial mess now faced by us ordinary taxpayers. Please realize that if we, the taxpaying citizens, had maintained a vigilant eye on the failure of the "Federal Reulators" to regulate the greedy financial community, this worldwide financial mess might be less severe or not have happened at all. I only hope that in the future your generation adopts a more critical and realistic awareness. Just as our Congress allowed private lobbying interest to influence changes in laws that protected ordinary citizens (bankruptcy law for example) from being exploited, P Scorzelli and friends acted out of self-interest with apparent disregard for the USGA's common shareholders to reward themselves.
Yes, I'm old, offensive, abrasive but NOT USELESS!! My time on this earth is limited, but you younger people will now be faced for years to come with a less prosperous world. So be negative and less trusting, but remain honest in your approach
to life. Always ask WHY!!! The world if full of selfish skunks like USGA's managment.
Walt Calahan
Chapter 11 brings out strange happenings. A dead dog is a dead dog according to Jim Cramer, and he is advising everyone to sell all non dividend paying stocks NOW!!!
W A Calahan
Pres1ton:
Who knows, it just might help you become a complete person with a critical eye capable of calling a spade a spade. Reaching the age of 80 yrs requires a lot of self discipline and belief in your self.
Walt Calahan
Pres1ton:
If you have a chance, checkout the USGA board on www.Investorvillage.com Post #37 (10/7/2007) by qqbmed titled "Pres1ton Just Spoke To Pat Scorzelli". It sounds as if things were going as expected almost a year earlier to date. And that SOB PS had the gall to string a pair of sharp guys like you and qqbmed along . And this was before USGA's switch to the Pink Sheets. Hard to believe!
Walt Calahan
And Vitusa gets the Filter, and Kidde gets AllClear, but I suspect a few of the major shareholders including PS get some piece of the action. Think any of us will ever get a "Thanks"?
W A Calahan
Gotham2:
Good observation - - I agree.
W A Calahan
Drugmanrx:
The declaration of Chapter 11 bankruptcy code is fair and well thought out. That said, we can only hope that our interest is carefully considered by the trustees. Since USGA day to day operation is none existent, it's difficult to see any favorable resolution for the shareholders. Time will tell.
W A Calahan
qqbmed:
That's Wall Street!! Perhaps they heard you and Pres1ton are going after the USGA bums by asking for the SEC to intervene in the BK process!!!
Walt Calahan
You and Pres1ton would be better off contacting Sen Reid for his help because the SEC's position would be to let the BK take its course. JMHO
W A Calahan
Mr topgear:
There were some posters on this board that provided DD that was not in the best interest of shareholders. Their only interest was in the demise of USGA so that the few valuable franchise would then be released. These posters are paid to mislead shareholders into inappropriate actions. Sad, too, that Investorshub can be used this way. JMHO
W A Calahan
Is my suggestion that USGA contact Nevada's Sen. Harry Reid for his help has in anyway brought out the fact that in July 2008 USGA applied for Chapter 11 BK protection? It just seems strange that the BK was not reported to us shareholders, and we had to have Pres1ton report it to us instead. Thanks to Pres1ton for his contacts, we now know Sen Reid could not be of help, but just might be an embarrassment to the BK process. Behind the scene acts by PS and friends need more transparency, wouldn't you say? Can Sen Reid help us where the SEC can't? It appears the USGA shareholders have been snookered!
W A Calahan
I don't think so - - only the big and politically powerful companies get that kind of help. Example: GM, Ford, Chrysler, AIG, etc.. Also, having a strong Union representing the employees helps too. Where does USGA fit into this family?
W A Calahan
Since the BK won't take place in the courts until next year, it might be a good idea to sell your shares now for a 2008 tax lose and then buy them back in December(30 days) when the rest of the shareholders (if there are any left) begin to sell at the end of the year. Of course this depends upon whether or not you believe USGA has any future. I don't, so I sold first thing this morning.
W A Calahan
Pres1ton:
I hope you are right, but my experience with Chapter 11 is that the common stock shareholders get wiped out.
W A Calahan
qqbmed:
The SEC, like all government agencies, must live within their budget, and they will only pursue those cases that will reward them politically the most. Therefore, a penny stock like USGA will receive an appropriate investment of time and money. Look what they did with the Robinson fiasco.
Of interest, the PPS in today's market is up (0.005/shr) so someone must find value in ALTI to buy share being sold. Wonder why? Perhaps Pres1ton might have an idea why.
W A Calahan
qqbmed:
I owe you an apology for the incorrect date I posted regarding your Ragingbull post of 22Feb2008. It was 2004!
We can only hope that some day the SEC will get around to punishing the likes of Robinson and et al who defrauded us. That said, the bank/financial SOB's who wants a $700 billion bailout are at the top of my list for punishment - - $700 billion or ELSE!!! What balls !!!
W A Calahan
Mike:
Never believe all that you read as posted on these message boards. There are many posters that are not what they say they are and are really snakes after the destruction of a company in order to lay claim to the company's valuable franchises. I suggested that this BK would happen and Vitusa, Kidde, etc. would eliminate USGA and then gain control of their respective franchises. It is not a nice world as now being displayed in Washington DC by the financial/banking people's demand for $700 billion of our money, or else!!!! I was called a paranoid by suggesting USGA was being destroyed by a few for their own gain, and that I just didn't get it!!! Well we USGA shareholders appear to be "Getting It"!!! Lawyer = Liar? Yes, PS and friends knew what they were doing all along. Sad!! And there is nothing, worth the money, you can do about it. too.
W A Calahan
Thanks, Pres1ton, for the up date.
W A Calahan
Someone sold, premarket, 74.42k shares, and all the small buy orders (two 5k and nine 10k) after the market open may be the result of someone placing an order for 100k shares which was filled at 5k and 10k rate rather then a bunch of small orders by many buyers. Interesting.
W A Calahan
Disappointing close: last sale 1,110,000 shares @ 0.0032/sh.
Total shares traded for the day 2,224,648. Heavy.
W A Calahan
Did I say Trillion ? Whew, I meant to say Billion!! Old age. Back in the 1930's, if you earned $10,000/yr you were rich -- of course today you need three times that to survive. Nano, pico, were never in anyones vocabulary when I was in my teens. Now my grandsons refer to these measurements in their everyday conversations about electronics.
W A Calahan
Another 50k shares were just sold at the bid price (red line) about ten minutes ago, so we are at 0.0035/share or up .0005 for the day. Volume, however is on the sell side, at least that is the way my 80 yr old eyes see it.
W A Calahan
I'm dull, too, but the charts show that the 635k shares sold were at the bid price, while the 437k were bought at the ask price. That is how I read the TD Ameritrade charts with a red volume line a sale and the black volume line a buy. Now at 80+ years, I am often wrong because of my eye sight. Nice to hear from all you other shareholders. Thought perhaps you all might be corresponding with Sen Reid regarding the proposed $700 trllion rescue plan. USGA could use a million of that, but we don't have any political muscle like the banks, etc have.
W A Calahan
So far today it is a wash with the edge on the sell side. Total volume (buy plus sell) is 1,062,374 with 625k sold and 437k bought. PPS is still positive if you consider 0.0005/ positive. Manipulation? Hardly!
W A Calahan
Up and then down - - someone just sold 350,000 shares at 0.0045/shr and then another sale of 2500 shares at 0.004/shr! So goes the tale of USGA. As I have said: "Interesting".
W A Calahan
No ! Like you I'm fascinated with any movement in USGA shares. Today's big order was for 238,000 shares @ 0.005/shr, or about $1,200 total. All of the other orders are for a more modest amount. This Company is a "BIG GAMBLE", and I have no intetest in pumping my modest investment in it - - I just want to make sure that it has a chance to take advantage of the opportunities it appears to have in its array of interesting products. I trust that all of our other investors have the same interest as I do.
W A Calahan
Another good size (volume) order this morning. Interesting.
W A Calahan
Someone or some group placed a large order for USGA shares near the close of the market today causing the PPS to reach 0.006/shr. Wonders often happen, but why here. Anyone have a clue as to why?
W A Calahan
ALTI has been invited to speak at the 1st International Conf. on Advanced Lithium Batteries on Sept 15 to 17, 2008 at the Argonne National Laboratory. A Mr. V. Manev of ALTI will make the presentation. The other attentees represent all the major players in the field, and it is a honor for ALTI to be selected as one of them.
W A Calahan
If you are interested in what Sen.Reid can do for a Nevada Company, go to the board for ALTI, a Reno,Nevada based company with manufacturing facilities in Ohio. It is rumored that the two recent contracts with the Army and Navy for battery reseach were the result of an "Earmark" action by the Nevada politician. USGA ought to get in line for a similar action before the new Congress decides to restrict this practice. USGA could use the money.
W A Calahan
USGA should contact Sen Reed of Nevada, a Democrat leader, for his help in promoting the advantages of MapSands border security system. The Senator is a powerful member of Congress as well as the Democrat party. One of those special cash appropriations would do wonders for USGA.
W A Calahan
qqbmed:
Time will tell who gets it, fella. Many posters over the years have pumped the shares of USGA with bogus information as Robinson and crew did in the past to enrich themselves at others expense. I just think some of the suggestions being made recently seem to be questionable as to their soundness. Time will tell ! There are robber barons operating to strip poorly managed penny stock of their value. HO (not "just my").
W A Calahan
Good Luck to ALL OF US! We ALL hope you and PS are right! MHO (not just!)
W A Calahan
Pres1ton:
I often wonder about where you guys come up with these ideas on how to get USGA going. Agree that the performance of the management lacks credibility and derserve some sort of jab to the ribs to get things on center once again, but, gee, contacting the SEC for help is asking for the end of USGA. Can you imagine what would happen to USGA's PPS if the SEC unloaded all those confiscated shares on the market? There would be no buyers, period, unless all of us stepped up to the plate and bought them - - question: WOULD YOU ? The SEC is not in the business of buying and/or managing companies they regulate and fine.
It appears to me that the real beneficiaries of this present approach of contacting the SEC will be as follows: (1) Vitusa, (2) Tiax, and (3) Defense Matrix after they take over these valuable fanchises when USGA goes belly up!!!!
Please give this some serious thought. Remember the last time we asked for SEC's help USGA was on the OTCBB exchange. The result was management of USGA transfered to the PINK SHEETS.
Penny stocks are a crap shoot and often are run by a bunch of quick buck artists such as Robinson and staff. I don't like their kind stealing my money, but on the other hand I DON'T LIKE A BUNCH OF POSTERS ON THIS BOARD GIVING OUT BAD ADVICE!!!!
JMHO
W A Calahan
If all these majority shareholders such as Robinson, etc are forced to give up their shares as a penalty for fraudulent activities in managing USGA, then it appears to me that the SEC would own the Company and USGA would be over !
W A Calahan
ALTI's PPS closed Friday @ $2.80 - - - not bad! Wednesday's CC hopefully will be positive.
W A Calahan