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yep..Once he's gone it'll be a fun ride. I thought for sure I was going to get my whole order filled at .121 until you started buying...thanks a lot bud :(
just got a partial fill for 25K @ .121 :) I'm hoping to get more but some other Ameritrade user just outbid me at .125.
that's cool armyseal, I post over there as well under kt325ci. I'm banking on TCLL having a nice steady run this year. I've got a very nice position and will be accumulating as money becomes available.
This goes with my previous post. It explains the reason that they couldn't pay Vale and how the company was hammered financially due to VAT taxes.
TRICELL PLEDGES TO TAKE COMPENSATION ACTION
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DAVID ELKS
09:30 - 14 January 2006
Mobile phone traders are considering launching legal action against the Government after a Customs crackdown on VAT fraud was ruled unlawful. Stoke-based Tricell confirmed it is to pursue compensation after the European Court of Justice (ECJ) ruled Customs illegally withheld VAT from innocent traders because transactions were linked to so-called "carousel fraud."
The mobile phone distributor was forced to cut jobs and temporarily suspend trading after almost £1 million in VAT was withheld from the firm in 2003.
Dozens of other phone exporters across North Staffordshire might also be able make claims against the Customs' campaign to crack down on a fraud which annually costs the economy £2 billion.
Industry analysts predict the ECJ decision could cost the Government up £5 billion to compensate around 400 companies wrongfully penalised, although the Government suggests the bill is likely to be closer to £100 million.
Andre Salt, chairman and chief executive of Tricell said: "Tricell can now buy goods in the open market without fear of having VAT refunds withheld by Customs.
"Tricell will now pursue damages for lost profits, attorneys' fees expended and other damages."
The ECJ's judgment followed a battle to decide the legality of a tactic introduced in 2002 by Customs - now HM Revenue and Customs (HMRC).
The case before the ECJ involved three companies - Bond House Systems, Optigen and Fulcrum Electronics - who successfully argued the system of blocking VAT rebates because they were involved in a carousel was illegal.
Tricell was a high-profile casualty of the crackdown.
The company saw sales treble in the two years to 2002 with turnover reaching £381.3 million.
However, Customs initially withheld £9.8 million in VAT as a result of the new regime, although this was reduced to £1 million.
The retention of VAT refunds hammered the company's cashflow position and sales in 2003 fell to £54 million.
In 2004, the strictures led the firm into a high-profile dispute with Port Vale because the pressures on cash prevented the firm from handing over £92,000 as part of its sponsorship.
John Sumnall, director of Tricell, said: "Tricell found itself in a position where VAT payments were withheld by Customs, yet the company was never accused of any wrongdoing. That affected Tricell's ability to trade with creditors - including Port Vale not being paid and jobs being lost. "
VAT experts across North Staffordshire said other companies were weighing up options for legal action.
After all, North Staffordshire was once dubbed the capital of mobile phone trading, although it is estimated 90 per cent of traders ceased trading or went dormant after the crackdown.
James White, tax partner at the Hanley office of professional services firm Baker Tilly, said: "Clearly this is a defeat for Customs which says that you can't go riding in with a coach and horses over innocent traders."
National Audit Office figures show 400 companies are affected with around £1.25 billion in VAT payments withheld.
Anthony Elliot-Squire, chairman of the Federation of Technological Industries in Birmingham, estimated the Treasury could be forced to stump up £5 billion.
Jason Collins, tax litigation partner in London law firm McGrigors, which has been representing a number of affected businesses, said companies were already lodging claims with the possibility of a class-type action on behalf of larger numbers.
The Government said the HMRC would now consider the detail of the ruling to determine its impact on previous decisions.
Meanwhile, mobile phone entrepreneur Peter Carnall has called for better banking support for traders as a result of the ECJ decision.
His telecoms group Eurostar was forced to seek new banking arrangements in October last year after the Bank of Scotland gave 30-days' notice that accounts were being closed.
Mr Carnall has since managed to find new banking facilities.
He said: "It is the fastest growing sector on the globe.
"Based on this fact banks should be supporting companies, not discriminating against them on the basis of the sector."
source:
http://www.thisisthesentinel.co.uk/displayNode.jsp?nodeId=158338&command=displayContent&sour...
Doing some DD and found something REALLY interesting. Looks like the company is serious about getting the share price over $1.
VALIANTS IN LINE FOR £142,000 BOOST
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DAVID ELKS
15:00 - 14 February 2006
Port Vale directors are hopeful of a financial boost in their long-running fight for sponsorship money from mobile phone firm Tricell. News of the breakthrough came as administrators for Tricell UK confirmed the company will be wound-up one year after they were appointed to the firm, which owed £92,000 to the Valiants.
Confirmation of the liquidation comes as club officials track the share price of parent firm Tricell Inc, which has more than doubled since the Vale were granted the equities given in December.
Tricell UK liquidator Pat Papanicola, of London insolvency practitioners Bond Partners, said he was awaiting a decision by HM Revenue and Customs on how to resolve a damages claim lodged by the company. This is because a decision by Customs and Excise officers to withhold VAT from Tricell UK and other mobile phone companies as it was linked to so-called missing trader fraud was ruled unlawful by the European Court of Justice.
Mr Papanicola said: "They are currently reviewing the case and have said they will make a decision by February 23.
"One of the questions will be how much interest they are going to pay and what compensation for the damage it caused to the business.
"There may be some money available to pay off creditors but it would be premature to say how much."
News of the liquidation comes two months after the club was granted 250,000 Tricell Inc shares as a measure of support. At the time the shares were priced at four pence, but the price has now more than doubled to 8.9 pence, valuing the company's holding to £22,250.
Mr Sumnall said Tricell's board planned to develop the business to reach a share price target of one dollar - 57 pence - within 18 months.
He said: "There has been a lot of bad press, which hit the industry, but with the ECJ's ruling investors now recognise that Tricell is a high-turnover business and are coming back.
"It is too early to say that a full recovery is underway, but the board is working hard to reach its target of getting the share price to a dollar."
The club must hold the shares for a minimum of 12 months and cannot sell the shares until the price exceeds one dollar - valuing the stake at £142,500.
Vale chairman Bill Bratt, who has already written off the £92,000 that had been pledged to the club in 2004, said: "It would be nice if the share price can continue to rise. Everyone would be vindicated if the price reached the dollar."
source:
http://www.thisisthesentinel.co.uk/displayNode.jsp?nodeId=158338&command=displayContent&sour...
Can anybody think of a way to find out how many shares WECK has sold so far? I know I can get monthly share volume reports on otcbb.com but since TCLL just moved back, nothing is available yet.
Just want to see how much of this 144 filing is left.
Tricell Inc 10/24/2005 947,958 WECKSTEIN (D) & COMPANY INC
current bxa .145 x .15
I know it's not much but picked up another 5K this morning. I'm planning on rolling over a majority of my daytrading profits here.
300 million British pounds = 525 million U.S. dollars
rookieman, you're getting up there. I'm currently at 220K and will add more if the price goes down a little more. I'm hoping to see .12 again but really doubt that'll happen.
I'm putting in an order for another 75K @ .121. I'm setting it GTC so it'll be ready in the event the mm's try and take it down more.
army, much better times ahead. I had sold those cheap shares during the July run and pretty much sat on the sideline waiting. I started buying back shares between .10-.12 once the VAT ruling was made and added a bunch more as of late.
I believe we are lucky to be aware of this company and have a chance to accumulate at these prices. Once the word gets out and they get the IR train rolling then the pps should be much higher than it is now IMO.
Nice buy, I noticed UBSS on the bid and then left after filling you. Are you an Ameritrade user?
thanks for the great info!!
.17x.18 WECK on the ask.
Only 92,300 out of the 474,100 traded below .20 today.
Only a 2K block went through @ .165. It happened right before they filled my 20K
15:15:48 18000 0.17 + OTCBB
15:15:39 2000 0.17 + OTCBB
15:15:39 2000 0.165 - OTCBB
If it breaks .16 then I might be going for another 50K. I believe the absolute bottom on this is .12 and there is no ceiling on how high it can go. There will always be flippers and it'll take a good PR or the 10K filing to really get this moving.
WECK was successful in stopping the run today. The only MM below .20 was UBSS at .17. Take advantage of the shares below .20. I did today.
I prefer to accumulate on the dips with this stock. When it finally busts through .50 we'll be very happy IMO.
I see the ask is sitting at .17. Time for me to buy some more. Just got another 20K
It's like the mm's don't want this to break out of the current trading range yet. They suck.
Maybe we'll have a run like this soon...
I was in this stock around .14 and sold before the huge run last April. I sold in the .20's and then I check back a few weeks and it's over $1
http://stockcharts.com/def/servlet/SC.web?c=GRGR,uu[h,a]daclyyay[dd][pb50!b200!f][vc60][iUb14!La12,2...
volume picking up today. Nothing but buys. I picked up a couple more.
I'm on the sideline waiting to pick up more shares. Need at least another 23K but would like to add another 50K if the price is right.
joeiniowa..I don't know if Jeff still uses this email or not but it worked back in July.
jeff.nunn@tricelldistribution.com
angel, thanks for all the DD..please keep up the good work. We all appreciate it! I've got a huge position and still want more.
Compared to MOBL, TCLL seems like a no brainer...
MOBL just released financials and jumped up 24%. Now tell me that TCLL is not way undervalued.
MOBL
Outstanding shares: 447,161,236
Revenue: $26,244,606
net loss: $ (6,955,732)
current pps: $ .30
market cap: $134,148,370
TCLL
Outstanding Shares: 94,795,877
Revenue: $240,167,787
Net Profit: $349,900
current pps: $.20
market cap: $18,959,175
Honestly, I don't think worrying about the revenues from the subsidiaries is even an issue. They are generating a TON more revenue than any other OTC stock below a dollar. The key is removing debt and generating greater profits. I'd happily lose half the revenue if it would double or triple the profits.
well it was only an 8K filing. A lot of people don't even see them. If it were in the form of a press release then today may have been more active. Regardless, it gives more time for those that want to accumulate.
I think they were included in the financials but have no idea as too how much they contributed. It could't of been much since those operations are the ones that were struggling to survive.
Now that we've dropped them and improved our net assets then the financials should look even better going forward.
not much going on today. MAXM moved off the ask and is parked at .27. Current BxA .166 x .20. Pretty boring but nice to see the pps back to .20
MAXM moved back up to .20 after filling a trade for 2008 shares..LOL. Can't wait till he's gone. I've got a pretty good sized holding now but hope to get another 50K before the Q is filed.
Happy V-Day to all of you! Don't eat too much chocolate!
Something is up for sure....4 trades at the ask of .19 and then MAXM lowers the ask to .18. He is still has his bid set at .16
14:16:15 30000 0.19 + OTCBB
14:14:15 25000 0.19 + OTCBB
14:04:21 25000 0.19 + OTCBB
14:03:24 5000 0.19 + OTCBB
50K of that was mine.
I've been riding the bid today and got some at .18. Now I've got an open order at .151 which is why L2 has UBSS on bid.
I added more at .17 this morning..MAXM is the mm keeping the price down...he's been the only one on the ask all day and for most of Friday.
I added 15K today and looking for more next week.
For those Alphatrade users having L2 issues...I called them and they are looking into it. I only see FRAN listed but can see the current bxa in my Ameritrade account.
If only I had kept my 100K at my .04 average instead of selling them back in July. Instead now only have 50K @ .12. It's great to see buyers stepping up and realizing how undervalued the company is.