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TTGL ($1.27) News. Good news just keeps on coming! Chart is ready to go back to $1.40.
Good readings:
http://www.smallcapnetwork.com/archive/listserv/20070325-1.html
http://www.smallcapnetwork.com/archive/listserv/20070322-1.html
Friday's news after the close:
http://biz.yahoo.com/bw/070323/20070323005504.html?.v=1
Titan Global Holdings Announces Recovery of $3.5 Million from Tier One Telecom Provider
Friday March 23, 4:01 pm ET
USF Refund to Reduce Debt and Increase Future Operating Margins
DALLAS--(BUSINESS WIRE)--Titan Global Holdings, Inc. (OTCBB:TTGL - News), a high-growth diversified holding company, today announced that Oblio Telecom, Inc., a unit of its Communications Division, reached a settlement and release agreement (the "Settlement Agreement") on March 18, 2007 with one of its Tier One wholesale telecommunications providers relating to its payment of Universal Service Fund ("USF") fees. The Settlement Agreement provides for reconciliation of a dispute between the parties pertaining to the federal
Under the Settlement Agreement, Oblio received an immediate credit of $1.9 million and expects to receive quarterly in arrears an additional $1.6 million accrued for recovery of additional USF fees paid to this Tier One Provider. This recovery further strengthens Titan's financial results, and includes no negative or stock-dilutive impact.
"The significant reduction of universal service fund fees applicable to our services will proportionately increase our operating margins in future periods and generate one time gains and cash infusions for prior periods," said Bryan Chance, President and Chief Executive Officer of Titan Global Holdings. "Upon receipt of our refunds and recoveries, we intend to use the proceeds to reduce our corporate debt, fund working capital, and, to the extent available, fund our strategic initiatives including acquisitions."
The Settlement Agreement resolves the proper recognition of the parties and the responsibilities of each before the Federal Communications Commission ("FCC") and certain administrative agents of the FCC both prospectively and historically. Further, it provides for the recovery by Oblio of 100% of the applicable USF this Tier One Provider remitted on behalf of Oblio.
The recovery is one of a series of substantial expected refunds and recoveries related to USF fees and federal excise taxes ("FET") Oblio previously paid. Under FCC regulations, Oblio was determined to be exempt from USF payments it had made to this Tier One Provider. As Oblio previously announced, Titan has significantly larger claims related to its USF payments made by Oblio to AT&T Inc ("AT&T"). In December, 2006, Oblio made a demand for arbitration upon AT&T for at least $61,912,797 in USF fees it and its predecessor paid to AT&T since 1999. This arbitration is in the discovery phase and an arbitration hearing has been scheduled for June, 2007.
On March 14, 2007, the FCC released its decision In the Matter of American Telecommunication Systems, Inc., Equivoice, Inc., Eureka Broadband Corporation, TON Services, Inc. and Value-Added Communications, Inc., WC Docket No. 96-45, which clarified that retail carriers must seek to redress specific regulatory issues related to USF fees first through their wholesale suppliers, then the courts; not the FCC and its agents. While Oblio wasn't a party to this referenced litigation, this decision provided it with legal and regulatory clarity as to its rights and responsibilities with respect to USF matters.
Under the FCC's limited international revenue exemption ("LIRE") a telecommunications carrier whose revenue from international services exceeds its revenue from U.S. long distance services by a ratio of 88% to 12% is exempt from liability for USF charges on the international revenue amount. Throughout its history and that of its predecessor entities, Oblio has always satisfied this exemption. USF charges currently represent approximately 10% of applicable gross revenue. Despite the LIRE exemption, a filer reporting traffic as a telecommunications carrier may be subject to other FCC charges which represent less than 0.5% of applicable gross revenue.
Oblio, a leader in the international prepaid telecommunications industry, is pursuing all amounts it has indirectly paid in USF fees for exempt international traffic and the related revenue.
"This Tier One Provider has voluntarily and amicably acknowledged Oblio's right to exercise an exemption from USF fees and to recoup one hundred percent of the USF fees paid by Oblio to it," said Kurt Jensen, President and Chief Executive Officer of Titan Communications. "Our customers ultimately win from this settlement as we will use these additional proceeds to reduce debt and to create new, innovative products to meet our customers' needs and to generate increased revenues."
In August, 2005, Titan announced it will use a portion of its cumulative net operating losses ("NOL's") against the future net income generated from Oblio. Pursuant to Internal Revenue Service regulations, Titan's qualified NOL's are preserved and available against future net income from the Oblio unit. The recovery of the USF fees will be offset by Titan's NOL's. Therefore, one hundred percent (100%) of the recovery of USF fees will be available to Oblio for reduction of its corporate debt and/or working capital.
In a distinct but related matter, Oblio previously announced the recognition of $3.5 million in income for recovery of federal excise taxes (FET) paid since August 2005, following the retroactive elimination of this tax by the U.S. Treasury. Since then, Oblio has upgraded its FET recovery expectations from $3.5 Million to $3.9 Million plus accrued interest.
langlui's watch: VGYI, ABSD, RGNO, TKER, RGMI, PPBL, GDVI, PMCL
VGYI $0.40
ABSD $0.016
RGNO $0.0371
TKER $0.22
RGMI $0.19
PPBL $0.20
GDVI $0.02
PMCL $0.021
just news for you PMCL
Pharm Control Ltd.: Pharm Control Ltd. Victim of Short Selling
Mar 22, 2007 (M2 PRESSWIRE via COMTEX) -- Pharm Control Ltd. (Other OTC: PMCL.PK) management is in the process of ordering a current Non Objecting Beneficial Owners list (NOBO list) from ADP Investor Communications. This is in response to the various emailssent and calls made to the Company's offices concerning possible short selling of the Company's stock.
The NOBO list shows a more complete and comprehensive shareholder profile than is typically available on a shareholder list provided by a transfer agent. In addition, management will order Depository Trust Corporation (DTC) reports for further examination. Both lists will be utilized to uncover possible short positions.
The NOBO list will be used to determine the naked short position in Pharm Control's common stock. The NOBO list will be compared to the reports from the DTC which contains data regarding all brokers and amounts of shares being held for investors. These lists will be used to get a total amount of shares owned by all shareholders and any naked short positions. The findings will then be reported to the NASD (National Association of Securities Dealers) to take action against the violators of the naked short regulations.
The company will take all necessary action to protect the value of shareholder investments and the steps now being taken exhibit the Company's response to the various emails send and calls made to our offices by investors.
ABSD GDVI RGMI
what's CC?
sold this late when i came back from meeting. Missed the sell at .04. I was only able to sell at .037 when i saw it. Oh well, profit is a profit!
WITM is off the N/S list, looks like next week we can potentially see more upside. Let's break that $1.25!
Boomer, PMCL NOBO request! You might see some action next week. Have a nice weekend :D
you are right. i played URRE before too, not too long ago. Dang i shouldn't have kept my eyes off URRE. I personally like URRE better than URME, but thought URME had a better chart. I will look into both companies again this weekend.
ALERT: IMCL short candidate. Gaps to fill. Good pick up here.
back up to .039 x .04. MY GOD!
Oh well, sold VRA as well .078.
yes cuz i bought at .028
i sold already. was getting impatient. not the price that i wanted to sell at.
but it's going back up to 0.036 x 0.038 now. WTH!
I am out. good play VPFI.
are you holding VRA into next week? or sell today?
Thanks S/A. It's okay simplegreen. I am still in VPFI. I am only wondering if I should hold VPFI over the weekend?!
S/A or simplegreen, can you please put a chart & comment for VPFI? It can be a good bounce play, news this A.M., looking great!
MOMO, look at VPFI. Looking very strong on news this morning and a good bottom bounce play. Could go pass $0.04.
Short Term target: $0.035, then $0.046
Stop Loss: $0.025
My target is $0.035, then $0.046. I will be holding til next Monday, looks like there is more upside.
OH, just when I am writing this, VPFI passed my first target. .036 x .037
I am holding SPBU as well. This is sitting on 20 MA line, and it bounced off it nicely each time. We may see it back to $1.1 next week.
me too! hhaha.. but i had a tough time getting the order filled.
what's your target???
would you mind putting an annotated chart? Thanks.
the gap in the end of December last year, from approx. $81 to $84, we don't have to fill that gap? cuz I don't see the price coming down below $83 this year. (oh no, my last post of the day. I still don't get the filling the gap thing! hahaha)
HI S/A, sorry to bother you again. Can you eleborate more on what's 'gap gets filled'? Can you use AAPL as an example? Thanks.
TY S/A. Any signs showing that CHDT will turn around here and break .035 resistance?
Also, is it better to wait for URME to dip more before entering a position? Or any indicators showing it'll turn around?
Thanks.
WITM, SPBU, PNWIF, CHDT, URME annotated chart please. Thank you so much.
URME not too excited huh..
i can't hold my hands off but shorted AAPL @ $93.90 today. Best of luck to me!
kevin, i brought TSL to you guys attention when it was still trading in the low $30s. I flipped it 2 times. I didn't look at this one lately because I was getting worried of the China stocks sell-off.
It seems to be okay to get in China stocks again? I don't know. Good luck. There can be more upside. Big-cap stocks are safer than pennies.
hi popeye, great commentary on URME. I sold URME this morning as I thought there would be a sell off coming b/c the 10K came out and didn't look good (losing more money). But it rebounded nicely from the low today so I guess people still like the company. I like the chart on URME, very nice trend. However, I will take tsafi's advise and will not buy it tomorrow and will wait for next Monday.
You'll see me buying some URME next Monday :) Hopefully URME will stay flat tomorrow.
tsafi, the stop loss on SPBU is no longer .97?
URME is still moving along the 30 day MA. Is it a good buy still? I unloaded the shares i got from last bounce last week.
VRA just busted through .06! yeah.
Now i still have these losing positions:
VEDO, WITM, SPBU what to do what to do what to do?
VRA can we break that .06 please? :)
VRA - let's break that 6!!!
thanks tsafi. i meant to say the T/A on CAMH, is it hard to tell whether it's looking good or not?
Hi S/A, i just woke up LOL. Is it too late to buy AGIX and VRA now? Very attractive..... Please let me know. Short-Term? Longer-term? Thanks.
I just bought myself some CAMH for $3.17. They just posted some good PRs.
Hi Tsafi, i got CAMH at 3.17, a little bit high, does it not look good on chart?
Any thoughts on AGIX and VRA? Both dropped hugely but rebounding nicely. Does it look like to be a one day rebound or we'll see continuous rebound?
Hi Simplegreen, so buy looking at the chart, where can I tell it's the entry point?
ALAN and FMDLQ from your scan that may move up base on STI 2,5?
DKAM OPBL ZROS BVSN
I think DKAM and BVSN are gonna be gappers again tomorrow morning. BVSN indicators are about topped out 100%. Scary.
I got my fingers on 1500 shares of DKAM @ $1.43.
1.51 x 1.52 now.