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Significant volume going on today. Anyone have an idea what the story is here?
Two possibilities come to mind.
The last 8-K gave us this news: "On June 9, 2011, the Company accepted the resignations of Mike Kurtanjek and
Michael Heenan as directors and officers of the Company."
According to the last 10-K, Kurtanjek held 4,800,000 shares, and Heenan held 100,000 shares. They could have unloaded those, which would account for some of the volume. If that is the case, the timing doesn't really inspire confidence.
The other possibility is that the next 10-K will have a "stock issued for cash/to settle debts" entry. Somewhat less worrying than the first scenario, but dilution all the same.
The well log news seemed positive, but was a bit cryptic. It'd be nice to get a more substantial update from the company.
There is a significant amount of institutional holding here, definitely a good sign. That doesn't mean things are just peachy. TELK really needs to bring one or more of these drugs to market and get some sort of revenue stream going. There has been quite a bit of time and money poured into R&D here.
Having said that, this is one of the few stocks in this sector that I've really done a significant amount of DD on. The amount of time and money invested thus far may not be too far out of line with the sector. I'd be interested to hear your thoughts on that, or from anyone else who is more familiar with the sector. If it were me, I'd either be very confident or very concerned at this point.
The other 600 lb gorilla here is the possibility of delisting from NASDAQ. They were given until today to regain the minimum $1 bid. Delisting could mean losing institutional investors. If there is a mass exodus that results in a drop in price, I'll gladly jump back in (I currently am not holding this). As far as I'm concerned, NASDAQ or not, I like where TELK is headed. The TRAP platform seems like it has a lot of potential, as do the drugs that are in the pipeline.
Like Missing Persons sang back in the 80s..."nobody walks in LA".
These guys discussed a distribution and marketing agreement concerning EcoReady's batteries back in April of 2010 (they do have Gogreen batteries on Amazon), as well as a joint venture agreement with J-Trend Systems Co. back in May of 2010. Did anything positive come of either of these? Hard to say, but probably not.
At this point I'm wondering if this is just dwindling to a shell company. Their website goes right to a godaddy page and their supply of products on Amazon is dwindling. In addition, there seem to be doubts as to weather the bags are truly biodegradable.
Combine all that with the 15-15D of a year ago, and I think we have a company that is going to sell off their existing stock of bags/batteries and eventually reemerge as another entity.
This might not be a bad entry for a stock with 100 million authorized and 65 million issued as of 2009. Of course, that depends on the current share structure and how far in the hole they are.
Took a small position here on Friday. All my digging and my gut tell me that the SA article was either very poorly researched or a full on scam. I find it particularly telling that Variant view wrote one article on CCME followed by three articles on ABAT. Since then Variant View (whoever that is, they seem reluctant to name themselves) has not updated their blog since April 7th or commmented on SA since April 13th.
Hopefully the share buyback will provide a boost in both share price and investor confidence.
Watching the grass grow? Dude I got in this morning, turned around and needed a bush hog!
Ex-Factory is a large operation. I work in the construction/millwork industry, and they are pretty much the go-to guys for used equipment. Combine that with how big green energy has gotten (LEED certifications, etc) and this could be very good news indeed. Now we need to see some followup, not just talk.
Oh, and here's the Ex-Factory website. Not hard to find since I have it bookmarked!
http://www.exfactory.com/
Wow, this is really getting hammered. This can't really be due to an NT-10Q, they're pretty consistent with the late filings.
Anyone have any thoughts on the downturn here aside from the obvious lack of news?
I agree. It would have been nice to see something of interest on the last filing, but there was absolutely nothing new there. On the plus side the share structure was the same, but honestly I can't see that remaining static since they aren't exactly flush with cash.
We are looking at the same properties and thus far no updates on the success of reworking some of the wells.
As far as being in default with the Nevada SOS, that is just silly. File the damn paperwork!
In short, I'm bullish here as well, but these guys have some work to do. They really need to do a better job of keeping investors in the loop.
Wow. That's quite the increase since their last 10-Q. Of course, there was also the 15-2G that came a day later. Printing presses must have already been rolling.
I can't believe that there is still a bid on this pig.
CCTYQ...why is this still trading? I've been watching it for a while now as a sort of post mortem and just don't get it. According to the November 8-K, the shares are cancelled. Then why file a 15-12G a few days later? And why would anyone be buying this?
If nothing else these guys are consistent with their filings as well as their notices of late filings. I'd guess that the 10-K should be filed in a week or two. There will be three things that I'll be looking at when it does. What properties do they own (or are working), weather or not there has been any success in reworking some of the wells (actual barrels per day would be nice), and if the share structure is radically different.
It'd be nice if they'd update their status with the Nevada SoS as well.
No, they haven't filed anything since the 10-Q in November. There will likely be a 10-K in April, then a 10-Q in May, another 10-Q in August...seeing a pattern yet?
As far as being in default with the Nevada SOS, technically that is true. To say that there is "no company" because some paperwork that was due in late January hasn't been filed is a bit of a stretch. I think people who are holding shares here have done their DD and are comfortable with what they've found. As I see it, this is a company with competent management and some potentially lucrative properties that they are working on. Time will tell.
Over 10 million shares sold today. Sold mind you, not traded. The boys must have had to make their mortgage and boat payments this week.
EVXA was supposedly in the business of oil remediation. All that ever really amounted to, as far as I can tell, was some vague PRs about testing. They claimed to need funding, sold piles of shares, did the reverse split, and went totally silent. People were waiting for at least two weeks to receive post split shares while EVXA did not respond to repeated calls and emails from investors.
Now EVXA is allegedly in the mining business. Their "new" partner is WSRA, basically the same people as EVXA. WRSA claims to own mining property valued at 20+ million. They have held this property for over two years now, but they seem to have nothing to show for it but more NOLs.
The only conclusion I can draw from all of this is that the main focus of both EVXA and WSRA is promotion themselves and selling shares. I see no evidence (aside from a few pretty pictures) that these guys even own mining equipment or would know what to do with it if they did.
I just noticed something odd that might be keeping folks at arms length. If you search for Tensas' CIK number on Edgar, you come up empty. If you look at recent 8-k filings, there it is.
The CIK number is 0001177019 in case anyone was looking.
How can there be no connection between the two? Paradiso is director and legal counsel of GDSM, Atkins is the accountant. Paradiso is legal counsel of WSRA, Atkins is the CFO.
I made no "shadowy and erroneous accusations", I simply stated that there IS a connection here. My first hand experience with some of their best work is at EVXA.
Having said that, I'll rephrase my original question and ask another. How is having Paradiso and Atkins a good thing? Is the Yorkville capital partners that Cooper was involved with associated with Cornell capital partners, aka Yorkville advisors, aka YA global?
I'm curious, how is the connection to WSRA (and there is one) a good thing? Look at who is involved here, Atkins and Paradiso.
Legal counsel for these guys is Don A. Paradiso. There hasn't been a 10-q filed since 2008.
I have no idea. Apparently if you lack scruples, disregard any ethical considerations, and will gladly screw people you can make a bundle running a business, or several businesses, on paper.
This company has never actually done anything except release bogus news and pay promoters to pump them.
Considering what went down today, the pump might finally be dry. The best thing to do now is push the SEC to look into these guys and fly the red flags with every issue that these thieves are involved with.
Yeah, hmmmm is right. That was one hell of a volume surge from a pr that essentially restated what they have been working on.
Nice to see some media exposure, but he needs to mention bigstring. I mean if you are going to create some media buzz, why not do it for both of your companies? Also, friday evening isn't the greatest of time slots, but hey, press is press.
The comedy here is brilliant, but hardly worth the ticket price that quite a few of us paid. They are bringing in Chaffe, president of WSRA. Really?
Lets look at WSRA. Chaffe is president, Atkins is CFO, and the legal counsel is, you guessed it, Paradiso.
Hey, maybe I'm wrong. Let's check the filings. Oops, nevermind. Atkins filed a 15-12G for them back in 2009.
There are two major issues that I see for Ambac right now, aside from the 600lb gorilla in the room that is the chapter 11 proceedings. One is the IRS issue, and two is the segregated accounts. The IRS issue has yet to be resolved. The details of the segregated accounts can be found here: http://ambacpolicyholders.com/
Show me a trade that went through at .50. The two or three weeks when the D was attached and EVXA failed to deliver post split shares doesn't count. Folks here might have had a chance to recoup some losses there, but no one had the shares until the price had dropped to this level.
During that period, the company did not (and as far as I can tell, does not) answer phone calls or reply to emails.
Finally, look at the volume and share price for the past month. If your timing was perfect, you might have made enough to pay the rent.
No one is attempting to rain on anyone's parade here. Look at the share price, the splits, and the volume. Its a downward spiral.
Oh yeah. We'll see...a "D" at the end of the ticker and shares in limbo for weeks.
Dilute, split, repeat.
It would have been nice to see some more meat to that PR. What it boiled down to is "we're still working towards production and are close(ish) to acquiring three more wells. The drop below .03 on that much volume seems to speak...well, volumes.
I think these guys have the expertise to get rolling with production, but when and how much?
The bottom of this charade is the names at the top. The concept of fiduciary responsibility to shareholders is nowhere to be found here.
According to Pinksheets the A/S is 100,000,000,000 and the O/S is 40,004,165,864 as of 11/11/10.
The 1000:1 reverse split was on 10/28/10.
About 40,000,000,000 shares printed up in two weeks?
Assuming those numbers are correct (again, from Pinksheets, so take that for what its worth) it boggles the mind that this isn't considered criminal.
This will go up with fluff PR until they are done selling the shares they recouped from the last split. The PR blitz will turn out to be all bu11ch!t. Nothing of real substance will have been accomplished, everything will have been on paper. After that will come the next (probably unannounced) split.
Lather, rinse, repeat.
I would ask anyone who disagrees with this assessment to show me ANYTHING that shows otherwise.
Yeah, somehow the fact that all the filings were in a two month period didn't catch my eye at first. I'd like to think that I would have caught it eventually, even if someone didn't show me the court ruling. That, to me, is one of the big benefits of message boards. You find out a whole lot more about these things with more eyes on it.
Just a word of caution here, I was doing some research on shells and came upon this guy here:
http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001456907&owner=include
At first glance it seems like he's quite the shareholder, doesn't it?
Until someone brought this to my attention:
http://www.sec.gov/litigation/admin/2010/34-62173.pdf
Apparently, he fabricated everything. The lesson that I took away from this (thankfully before investing based on any of these bogus filings) is that whey you do your research, verify everything.
You'll notice that the legal findings against Jaycee are mentioned nowhere under his name on Edgar. Nice to see the regulators being so thorough, huh?
With patience and assuming that the company stays quiet for a while, you might get some at .025-.03. Personally I think accumulating in the .03-.04 range is your best bet. Everything hinges on production (yeah, I know, Captain Obvious has spoken!), but more specifically on how successful they are in reworking some of the wells.
Right now the company is exploring and we are speculating. Once we (hopefully) get news to the effect of "X number of barrels per day" this should be on a fairly significant upswing.
I haven't personally contacted anyone from the company, but others may have.
Nice volume pop today.
I'm actually holding a little bit of both. I hear you on the not trading thing. Its the end game that will make or break these.
Right, but I'm fairly certain that was the case before the Q. The greys have a bad reputation, but I think this is one that was (or is depending on how you look at it) a good investment, but one that was thinly traded and not listed.
True. And like you said, you're pretty much taking a blind stab at things with the greys. You never know when someone will get impatient with the zero volume days.
This was never listed so never did have a bid/ask, correct?
Hey man, if you can snag half the shares out there for $100, good on ya!