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It WAS a long time ago, old chum. Tirex had its big pumpadump run in late '99 with it's last blowout in early 2000 as Byrne took the money and ran. I've always suspected, but have never been able to prove, that Sinclair (the guy who sued 'em at the peak) was complicit in a short-side scheme.
ROTFL!!! Your logic is that because it's been around for a long time and nobody has been jailed, then it's not a scam? The financials have been copied and pasted for years with essentially no changes. Ash does 'em himself so they cost next to nothing.
LOLOLOLOL!!!! You deserve to lose whatever you risk here.
It's a pump and dump trying to entice a new generation of suckers. Only a very small fraction of these turds ever get prosecuted.
LOL! Some things never change.
TRI is indeed confused about Tirex, but after a while all the scams start to look the same. LOL!
Meanwhile, the lies from Threshie and Culliford continue unabated. Tirex is nothing but a stack of cardbard boxes full of paper and discs in Threshies home. The worthless TCS system will NEVER be purchased by anyone.
Meanwhile, the tire recycling industry moves on past the (ahem) crumby Tirex process...
http://www.carbolytic.com/environmental/index.html
Hey Suds! 4 more years...
...to the Eschaton. LOL!
Waddya think of the American Øbamanation?
Itchy buy finger. Picked up a stack of shares @ $1.50 yesterday. I want more, but the chart is giving me conflicting signals.
This is a high (well, higher anyway) res PicoP engine. What's noteworthy is that this is the second such contract to develop high res gear. Resolution is an incredibly important factor!
The MVIS gear under these contracts will still be behind the flat-panel display resolution curve--the equivalent of low-res HDTV (720p). I look forward to higher resolution as time goes on.
What I'd really like to see is an announcement by Moto or another cellphone manufacturer that they're gonna use MVIS tech.
Meanwhile, the price is doing what the price generally does. I'm sitting on some cash for the next swing--probably be buying again in the next few days as the price moves under a buck and a half.
Nobody (on SI or Yahoo) seems to know. NSLOOKUP gives no info.
It's gone, Sue. There never was anything more than a scam anyway.
That said, I'd love to find the perps. I know how to find Gabor S. Acs, who posts on the web as Alex S. Gabor*; but Mataras and Safadi seem to be keeping a low profile.
*Gabe's still a hoot and a half...gotta like the guy's chutzpah.
http://www.associatedcontent.com/user/29691/alex_s_gabor.html
will this thing ever live agaon? [sic]
In a word...
NO!
Happy New Year Abo!
Maybe with Øbama's demorats in control, ol' Tom can call in some favors.
YA? LOL! You do know who they are, don't you?
Out. Back in around a buck and a half.
I don't really have a question regarding financing. Threshie found more fools and suckers to buy into this scam. He's a smooth liar.
...and of course none of that would change with the Tirex system. All it really does is exchange the crushers for knobby rollers. The front and back end processes are the same.
'It's a dirty business' applies to the sale of TXMC stock as well. LOL!
Not goin' that low today, I s'pose. Bought more at $1.72.
LOL! Sell on news. I'll buy more shares if it gets down to a buck and a half.
LOL! Tirex is still a scam.
Nobody in the world can afford the outrageous startup costs of the Tirex system. There simply isn't enough benefit to using Muro's knobby rollers--the only unique part of the TDS.
CES starts Thursday. Here's MVIS' listing in the online directory:
Microvision provides OEMs an ultra-miniature laser projector engine, PicoP™. PicoP can be designed as a stand-alone accessory Pico Projector, or embedded directly into mobile devices such as mobile phones, automotive displays, gaming and wearable displays. PicoP delivers a big viewing experience!
Product Categories:
• Embedded Technologies
• Mobile and Vehicle Electronics
• Wireless Communications » Bluetooth-based Devices
Product Name: Pico Projector
Microvision's stand-alone pico projector is scheduled for market introduction in 2009. Powered by the company's ultra-miniature PicoP™ display engine, the Pico Projector is a PDA-sized, fully self-contained, battery operated, full-color laser projector. Microvision's pico projector connects directly to laptops, mobile phones, portable media players (PMPs), digital cameras and other mobile devices to project large, high-resolution images and video onto any surface. The images projected can range anywhere from 12 inches (30 cm) to 100 inches (2.5 m) in size depending upon the projection distance and are always in focus. The commercial version of the device is expected to offer approximately 2.0 hours of continuous battery life, sufficient to watch a full-length movie without a need for recharging.
Designed for viewing high-quality projected images in a variety of controlled lighting environments, Microvision's Pico Projector projects a widescreen, WVGA (848 X 480 pixels), DVD quality image -- offering a very different experience from the tiny 2-inch display solutions available today on various portable devices.
Product Name: PicoP
PicoP is an ultra-miniature laser projector capable of producing color-rich, high-resolution, large images to give users a ‘big screen' viewing experience from an extremely small package. The first commercial application of a PicoP-enabled product (launch 2009) is a stand-alone, battery-operated accessory Pico Projector that connects directly to mobile devices, such as mobile media players, mobile phones, laptops and gaming devices.
http://myces.bdmetrics.com/CDT-5601915/Microvision-Inc-/Details.aspx
The stock price seems to be rising in anticipation of the event.
Been waiting a long time for this one. The eyewear application is the killer display of tomorrow that enables true wearable computing. Microvision pioneered the concept years ago, but the marketplace wasn't ready for it.
Think about it. High-resolution wearable monitors obsoletes lcd monitors and can change the way we view tv and video. There's gonna be a lot of inertia at first, because the industry wants to sell big screen devices, but ultimately if the resolution is sufficient, you can watch a virtual 'big screen' anywhere--even on the beach. It's also killer gear for gaming and other immersive applications.
Projectors in cellphones and games are nifty, but 3d wearable monitors are gonna be the application that breaks MVIS into double digits. Ain't gonna happen overnight, but in the interim I'm enjoying the swings. LOL!
I have every filing Tirex ever made, including the pre-Edgar filings. If you really want to know about the history of the Tirex pumpadump, just ask. Ultimately, it's simple--follow the money.
Looks like Threshie is positioning for another pumpadump. He's never been able to duplicate the amazing fraud of his mentor, Terence Byrne, but ya gotta admire the incompetent fool's tenacity.
Here's a photo of Byrne and Muro taken in 1998:
Been there, did that too. I've done well flipping MVIS over the years. It oscillates reliably and there's money to be made even in a downtrend if you're not so greedy that you're lookin' for a double on every trade. Look at the recent swing--bought from 1.20 to 1.50 and sold over 2.00. The price is moving back down into buying range again.
I was initially excited about their direct retinal displays and I suppose that one's still waiting for the hardware to become ubiquitous. I've got a killer app for it whenever it does finally emerge. MVIS is sitting on a number of patents that have potential, but meanwhile, it looks as if the projector's time has come.
I thought so...
§ 242. Amendment of certificate of incorporation after receipt of payment for stock; nonstock corporations.
(a) After a corporation has received payment for any of its capital stock, it may amend its certificate of incorporation, from time to time, in any and as many respects as may be desired, so long as its certificate of incorporation as amended would contain only such provisions as it would be lawful and proper to insert in an original certificate of incorporation filed at the time of the filing of the amendment; and, if a change in stock or the rights of stockholders, or an exchange, reclassification, subdivision, combination or cancellation of stock or rights of stockholders is to be made, such provisions as may be necessary to effect such change, exchange, reclassification, subdivision, combination or cancellation. In particular, and without limitation upon such general power of amendment, a corporation may amend its certificate of incorporation, from time to time, so as:
(1) To change its corporate name; or
(2) To change, substitute, enlarge or diminish the nature of its business or its corporate powers and purposes; or
(3) To increase or decrease its authorized capital stock or to reclassify the same, by changing the number, par value, designations, preferences, or relative, participating, optional, or other special rights of the shares, or the qualifications, limitations or restrictions of such rights, or by changing shares with par value into shares without par value, or shares without par value into shares with par value either with or without increasing or decreasing the number of shares, or by subdividing or combining the outstanding shares of any class or series of a class of shares into a greater or lesser number of outstanding shares; or
(4) To cancel or otherwise affect the right of the holders of the shares of any class to receive dividends which have accrued but have not been declared; or
(5) To create new classes of stock having rights and preferences either prior and superior or subordinate and inferior to the stock of any class then authorized, whether issued or unissued; or
(6) To change the period of its duration.
Any or all such changes or alterations may be effected by 1 certificate of amendment.
(b) Every amendment authorized by subsection (a) of this section shall be made and effected in the following manner:
(1) If the corporation has capital stock, its board of directors shall adopt a resolution setting forth the amendment proposed, declaring its advisability, and either calling a special meeting of the stockholders entitled to vote in respect thereof for the consideration of such amendment or directing that the amendment proposed be considered at the next annual meeting of the stockholders. Such special or annual meeting shall be called and held upon notice in accordance with § 222 of this title. The notice shall set forth such amendment in full or a brief summary of the changes to be effected thereby, as the directors shall deem advisable. At the meeting a vote of the stockholders entitled to vote thereon shall be taken for and against the proposed amendment. If a majority of the outstanding stock entitled to vote thereon, and a majority of the outstanding stock of each class entitled to vote thereon as a class has been voted in favor of the amendment, a certificate setting forth the amendment and certifying that such amendment has been duly adopted in accordance with this section shall be executed, acknowledged and filed and shall become effective in accordance with § 103 of this title.
(2) The holders of the outstanding shares of a class shall be entitled to vote as a class upon a proposed amendment, whether or not entitled to vote thereon by the certificate of incorporation, if the amendment would increase or decrease the aggregate number of authorized shares of such class, increase or decrease the par value of the shares of such class, or alter or change the powers, preferences, or special rights of the shares of such class so as to affect them adversely. If any proposed amendment would alter or change the powers, preferences, or special rights of 1 or more series of any class so as to affect them adversely, but shall not so affect the entire class, then only the shares of the series so affected by the amendment shall be considered a separate class for the purposes of this paragraph. The number of authorized shares of any such class or classes of stock may be increased or decreased (but not below the number of shares thereof then outstanding) by the affirmative vote of the holders of a majority of the stock of the corporation entitled to vote irrespective of this subsection, if so provided in the original certificate of incorporation, in any amendment thereto which created such class or classes of stock or which was adopted prior to the issuance of any shares of such class or classes of stock, or in any amendment thereto which was authorized by a resolution or resolutions adopted by the affirmative vote of the holders of a majority of such class or classes of stock.
http://delcode.delaware.gov/title8/c001/sc08/index.shtml#TopOfPage
I'm not an attorney, but as I read this the amendment to the Certificate of Incorporation by the Tirex Board of Directors is not legal. Tirex is in violation of Delaware law for its failure to hold proper shareholder meetings.
If there be a failure to hold the annual meeting or to take action by written consent to elect directors in lieu of an annual meeting for a period of 30 days after the date designated for the annual meeting, or if no date has been designated, for a period of 13 months after the latest to occur of the organization of the corporation, its last annual meeting or the last action by written consent to elect directors in lieu of an annual meeting, the Court of Chancery may summarily order a meeting to be held upon the application of any stockholder or director. The shares of stock represented at such meeting, either in person or by proxy, and entitled to vote thereat, shall constitute a quorum for the purpose of such meeting, notwithstanding any provision of the certificate of incorporation or bylaws to the contrary. The Court of Chancery may issue such orders as may be appropriate, including, without limitation, orders designating the time and place of such meeting, the record date for determination of stockholders entitled to vote, and the form of notice of such meeting.
http://delcode.delaware.gov/title8/c001/sc07/index.shtml#TopOfPage
Well, they were; and I am dubious about the legality of this:
On February 11, 2008, the Board of Directors ("Board") of The Tirex Corporation ("Tirex" or the "Corporation") passed a resolution approving of : i) the form, terms and provisions of the Corporation's amended and restated Certificate of Incorporation ("Certificate") and ii) the filing of the Certificate with the State of Delaware. The Certificate increases the common stock of the Corporation (the "Common Stock") from two hundred and fifty million (250,000,000) shares of Common Stock, par value $0.001, to one billion (1,000,000,000) shares of Common Stock, par value $0.001. The Board also authorized the Corporation to create "blank check" preferred stock ("Blank Check Preferred Stock"). The conditions attached to any series of Blank Check Preferred Stock will be determined by the Board. The Corporation's management intends to issue shares of Common Stock to satisfy certain of the Corporation's liabilities, including accrued and unpaid salaries.
In a separate resolution passed by the Board on February 12, 2008, the Board passed a resolution approving of : i) the form, terms and provisions of the Certificate of Designation ("Certificate of Designation") of Series A Preferred Stock ("Series A Preferred Stock") and ii) the filing of the Certificate of Designation with the State of Delaware. The Certificate of Designation approves of the issuance of up to one million (1,000,000) shares of Series A Preferred Stock. No cash dividends shall be paid with respect to the shares of Series A Preferred Stock. The Series A Preferred Stock shall give its holders the right to one hundred (100) votes per share on any matter properly before the shareholders for a vote. The voting rights of the Series A Preferred Stock shall be subject to all splits and each share will be convertible into five (5) shares of Common Stock upon the earlier of: (i) the holders' election or (ii) January 8, 2009. The holders of all shares of Series A Preferred Stock shall not be subject to any non cash distributions to holders of shares of Common Stock, including without limitation, stock dividends, stock splits and securities issued in a recapitalization. In the event of the liquidation or winding up of the Corporation, the holders of the Series A Preferred Stock will be entitled to receive, prior and in preference to the holders of Common Stock, an amount up to but not greater than the original purchase price per share of Series A Preferred Stock, notwithstanding the par value of the Series A Preferred Stock.
http://www.sec.gov/Archives/edgar/data/823072/000120445908000304/tirex021408form8k.htm
As I recall, Delaware law requires a proper shareholder vote to modify the Certificate of Incorporation.
Your comment about shares isn't related to that lawsuit, right?
Tirex can't issue any more shares without a proper shareholder meeting/proxy vote.
Terry Byrne was the CEO of Tirex from 1995 until his protogé, John Threshie took over. Byrne was a master of the pumpadump, and he orchestrated the Tirex scam. Threshie is a wannabe who tried to follow in Byrne's footsteps, but failed miserably. Byrne and his cronies got away with millions of dollars selling worthless shares of TXMC at a premium by issuing a brilliantly timed series of blatantly false and misleading press releases.
I posted to show Byrne's sordid past--orchestrating the sale of nuclear weapons components to Iraq. Google allivane byrne for more, and/or read this book:
Answers to your other questions are not appropriate here. Ask me on the TLYN board.
Arms-to-Iraq trial dealer `is CIA man'
Mark Watts
A Scottish arms dealer at the centre of a trial over ammunition parts smuggled to Iraq will next month be named as a CIA agent.
Paul Grecian is identified as an informant for the American intelligence agency in a confidential memo to be published in July by the Scott inquiry.
The CIA link may explain why an attempt by the US Justice Department to extradite Mr Grecian from South Africa failed last month. The department wanted Mr Grecian on charges of supplying ammunition parts to Iraq.
The memo was written by a senior Customs investigations officer and sent to the Foreign Office Middle East desk. Copies went to senior officials at the Department of Trade and Industry and the Ministry of Defence.
Mr Grecian, 41, was one of four businessmen who pleaded guilty in February 1992 to conspiring to smuggle an artillery fuse assembly line and ammunition components to Iraq via Jordan in the late 1980s. He was given a suspended prison sentence, but cleared on appeal. His company, Ordtec, was contracted to the Space Research Corporation, run by the late Gerald Bull. Ordtec ordered 155mm shell fuses from a US company, Rexon Technologies, and booster pellets from the British firm BMARC for the contract.
But Mr Grecian had been providing details of British arms supplies to Iraq, particularly the Supergun, to three intelligence agencies: MI5, MI6 and Special Branch.
The Ordtec case had similarities to the Matrix Churchill trial which collapsed in November 1992. Mr Grecian and his colleagues won their appeal because Customs failed to disclose documents to the defence showing the Government had turned a "blind eye" to their activities.
A month after his victory in the Appeal Court, Mr Grecian flew to South Africa for a Christmas break with his fiancee only to be arrested under an Interpol warrant at Johannesburg airport. He was remanded in custody after the court was warned that British Intelligence might try to rescue him.
Michael Prior, a British antiquarian book-dealer who led the campaign in South Africa to free Mr Grecian, claimed a senior CIA figure in Pretoria was instrumental in frustrating the extradition attempt.
Customs officers learned about Mr Grecian's contacts with British intelligence after interviewing him on 2 August, 1990.
Less than four weeks later, Pat Blackshaw, assistant chief investigation officer at Customs, wrote to David Hope, of the Foreign Office Middle East desk, about the investigation saying that Mr Grecian had "contact" with Special Branch.
The memo says Mr Grecian was reporting to the CIA: "I should mention that the Grecians first came to Customs {Investigations Department} attention during the Gulf War.
"At that time they were concerned with a UK company called Allivane Ltd which" - the memo alleges - "was engaged in avoiding export licensing restrictions by supplying explosives and propellant charges to Iran via Portugal. Paul Grecian gave information on the operation to the CIA."
In his inquiry report, Sir Richard Scott describes Customs investigators' belief that Allivane arms were to be diverted from Portugal to Iran as "compelling".
Mr Grecian, now back in London, denied working for the CIA, although admitted passing the agency on to his partner at Allivane, Terry Byrne.
Mr Grecian's campaign co-ordinator, Mr Prior, believes the CIA was behind the collapse of the extradition case in South Africa. He identified a friend in the US embassy in Pretoria, who undermined the extradition attempt, as a senior CIA officer.
Mr Grecian, meanwhile, is still wanted in America and is too frightened to travel abroad.
Copyright 1996 Newspaper Publishing PLC
Provided by ProQuest Information and Learning Company. All rights Reserved.
http://findarticles.com/p/articles/mi_qn4158/is_19960609/ai_n14048653
Microvision to Unveil Handheld ''Plug-and-Play'' Pico Projector for Mobile Devices That Delivers a Home Theater-Sized Viewing Experience
Ultra-thin laser projector prototype with connectivity to mobile phones, PDAs, PMPs, digital cameras and laptops to be displayed during CES 2008
REDMOND, Wash., Jan 02, 2008 (BUSINESS WIRE) -- Microvision (NASDAQ:MVIS), developer of light-scanning technologies for display and imaging products, will unveil at the Consumer Electronics Show (CES) in Las Vegas next week an advanced prototype of the first handheld, battery-powered, 'plug-and-play' projector based on the company's single micro-mirror laser scanning display technology.
Code-named SHOW(TM), Microvision's stand-alone pico projector intended for mobile device applications, is powered by the company's proprietary ultra-miniature PicoP(TM) display engine. Microvision will preview the PDA-sized, fully self-contained, battery operated, full-color laser projector to select global OEMs, mobile carriers, content providers, development partners and members of the media.
SHOW connects directly to laptops, mobile phones, portable media players (PMPs), digital cameras and other mobile devices to project large, high-resolution images and video onto any surface. The images projected can range anywhere from 12 inches (30 cm) to 100 inches (2.5 m) in size depending upon the projection distance and are always in focus. The production version of the device is expected to offer approximately 2.5 hours of continuous battery life, sufficient to watch a full-length movie without a need for recharging.
Microvision says that SHOW can project a widescreen, WVGA (848 X 480 pixels), DVD quality image -- offering a very different experience from the tiny 2-inch display solutions available today on various portable devices. Designed for viewing high-quality projected images in a variety of controlled lighting environments, SHOW offers more than five times the resolution compared with competing miniature projectors that typically only offer QVGA resolution (320 x 240 pixels).
At the heart of SHOW is Microvision's PicoP display engine, measuring close to 5 cc in volume and approximately 7 mm thick (approximately the size of a thin mint chocolate candy). Microvision envisions the PicoP display engine being used not only in stand-alone accessory products like SHOW, but also embedded directly into mobile consumer products.
"Consumers want better display solutions that will enrich their experience in watching TV, videos and movies, in playing games, and in browsing the web from their cell phones and other mobile devices," points out Alexander Tokman, President and Chief Executive Officer of Microvision. "While mobile multi-media subscription services are on the rise, handset manufacturers, content providers and service providers view tiny cell phone displays as a barrier to stronger consumer adoption of their products and services. With Microvision's SHOW you could view and share everything ranging from YouTube videos, MSN newscasts, and Google search results to PowerPoint presentations, feature-length films, and family photos in a large, full-color, hi-resolution format instead of a 2-inch, QVGA display."
"SHOW is a significant milestone for Microvision and is proof that our technology is maturing according to plan and is close to being market-ready. Microvision's low-profile and low-power design, supported by leading supply chain partners, is very attractive to numerous mobile handset device manufactures, carriers and content providers. We believe that this milestone is meaningful not only for our company but for the industry at large," concluded Tokman.
Microvision's advanced prototypes of SHOW will be available in limited quantities to select OEM and carrier partners for customer feedback and applications development in the first half of 2008. The release of a commercial product is targeted for the end of 2008. Demonstrations of SHOW will be held during CES 2008, and again at the 3GSM conference in Barcelona in February 2008.
About Microvision (www.microvision.com)
Microvision provides a display technology platform to enable next-generation display and imaging products for pico projectors, vehicles displays, and wearable displays that interface to mobile devices. The company also manufactures and sells its bar code scanner product line which features the company's proprietary MEMS technology.
Forward-Looking Statements Disclaimer
Certain statements contained in this release, including those relating to product benefits and performance, timing of product releases, and product applications, as well as statements containing words like "expects," "could," "believes" and other similar expressions, are forward-looking statements that involve a number of risks and uncertainties. Factors that could cause actual results to differ materially from those projected in the Company's forward-looking statements include the following: our ability to raise additional capital when needed; our financial and technical resources relative to those of our competitors; our ability to keep up with rapid technological change; our dependence on the defense industry and a limited number of government development contracts; government regulation of our technologies; our ability to enforce our intellectual property rights and protect our proprietary technologies; the ability to obtain additional contract awards; the timing of commercial product launches and delays in product development; the ability to achieve key technical milestones in key products; dependence on third parties to develop, manufacture, sell and market our products; potential product liability claims and other risk factors identified from time to time in the Company's SEC reports, including the Company's Annual Report on Form 10-K filed with the SEC. Except as expressly required by the federal securities laws, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, changes in circumstances or any other reason.
SOURCE: Microvision
CONTACT: Microvision
Matt Nichols (media), 425-882-6657
Tiffany Bradford (investors), 425-936-6847
or
Vetrano Communications
Lisa Figlioli (media), 203-625-0082
public relations representative
Copyright Business Wire 2008
Hey fff, Happy Merry!
Is this a good stock? Looks like a classic pumpadump to me.
Thanks, tweedie. Someone here apparently doesn't like reality as my post regarding ongoing law enforcement investigation of this and other Cortellazzian scams. Remember the popular* RCMP motto--they always get their man. LOL!
* The RCMP's official motto is 'Maintiens le Droit'--French for 'Uphold the Law'. The popular motto derives from an 1877 comment in the Fort Benton(MT) Record: "They fetch their man every time."
Exactly, Earnie. Nobody hires companies like this to orchestrate 250-mile pipelines. Here's a source for REAL pipeline news for W. Africa:
http://www.rigzone.com/news/archive_search.asp?Keyword=pipeline&Region_ID=3
Telynx always has been worthless--a scam from the get go. At least TPK is an imaginative writer, and ya gotta love his car.
I'd like to see Safadi and Mataras jailed for their fraud, or do incompetent crooks get a pass?
Speaking of Coastal Holdings and Andrea Cortellazzi...
AQUAGOLD International, Inc., who recently announced a merger with Omninet Media.com, Inc. (PINKSHEETS: ONMC), issued the following letter to AQUAGOLD shareholders dated October 27th 2007 to clarify the following information regarding a relationship between AQUAGOLD and Coastal Holdings, Inc.
ATTN AQUAGOLD INTERNATIONAL SHAREHOLDERS
REF: POINT FORM CLARIFICATION
It has come to my attention that there is a significant amount of confusion surrounding the relationships between AQUAGOLD International, Inc., and Coastal Holdings Inc. The following points referenced with the appropriate documentation will clarify any ambiguities brought up by shareholders.
-- In September 2006, AQUAGOLD International began negotiations with Pro-Active (Andrea Cortellazi) out of Montreal for the acquisition of a public shell company. Pro-Active presented different shell companies to AQUAGOLD management. At no time was any documentation signed or any agreements taken between the two companies, whether it is Letter of Intent or merger agreement.
-- Both parties never came to an agreement on a potential merger.
-- On May 11 2007, Coastal holdings issued a press release announcing the cancellation of a merger that never occurred. Immediately following this announcement, Andrea Cortellazi issued an apology to AQUAGOLD International on behalf of Coastal Holdings for its misrepresentation of company
information.
http://www.tmcnet.com/usubmit/2007/10/29/3051870.htm
It's not the first time that Cortellazzi co-opted another company's press to pump his stock. Gotta wonder when the authorities are gonna act.
Are you really so gullible? Another BS LOI for a mysterious and unverifiable foreign project that will never happen. It's very carefully phrased to say nothing that can be construed as 'false and misleading'...in fact it really says nothing but it does so in a tantalizingly almost credible way. Those who are not very bright or who are senile read into this hypeful blather and dream of easy money.
There will be no project. There will only be millions of shares shuffled between accounts in the US, Canada, the UK and Israel. Can you say 'money laundering'? I know you can.
Imaginative, but how stupid does one have to be in order to take that bait? This has always been nothing but a share printing press and cash machine for a group of crooks based in Montreal.
BWAHAHAHAHAHAHAHAHAHAHAHA!!!!!!!
The hits just keep on coming. Another forward-looking LOI for an unverifiable project that probably doesn't exist and in any case will not likely ever materialize. Just another Cortellazzian 'airport development'.
BOHICA!!!!
You'll have another chance. The November pumpadump is done and the price will likely just drift back down.
declined- Don't forget to consider that HOMS owes Cornell Capital Partners about $11MM in debentures at 10% interest, convertible at a 10% discount to a 30 day VWAP and redeemable at a 10-20% premium.
This reality, and the fact that McMillen's acquisitions aren't producing the anticipated cashflow is what holds the price down. McMillen touted a $21MM year, but after 3 quarters the revs are just under $9MM.
Your math is whacked. The $5.1MM figure is misleading as HOMS didn't own 100% of SHC. From today's 10Q:
On August 29, 2007 the Company received 673,317 shares of Vuance, Ltd. ("Vuance") common stock in exchange for all of its preferred stock in SHC. The Company valued the common stock at $5.17 per share, the agreed upon price in the sale transaction, and accordingly recorded a $481,409 gain on sale of its majority interest in SHC. On September 30, 2007 the fair value of the Vuance common stock was $5.02 per share. As a result of classifying the Vuance common stock as available-for-sale securities, the Company recorded a decrease in the value of its investment and a corresponding reduction in Shareholders' Equity in the amount of $103,899, reflecting the change in the fair value of the securities as an unrealized loss.
HOMS paid $3MM for 61% of SHC and got shares worth $3,481,409 when they sold it. They can only sell 1/8th of the shares in any quarter, so it will take two years to cash out. The 'profit' has declined to about $380k; and that's not considering the 10% interest that must be paid to Cornell for the original $3MM. By the time HOMS is cashed out, the interest will have eaten the profit, so the whole deal is really just a push.