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There was a e-mail saying letters would be sent to shareholders of record but I did not receive on in the mail nor do I no anyone that did,I'm assuming the yahoo person your referring to is posting false info. as if not then why don't they post it?
Read it, it has been posted here several times since July and again on last post, It is a e-mail and if you didn't e-mail Mr. Moore yourself back in July as I did that would explain why you didn't get one. It has been reviewed several times.
Well it's not a letter per say I guess But here it is once again, Take it for what it;s worth.
This was received pm 7-16-10 there was a previous e-mail on the 3rd stating the shareholders of record would be receiving letter in lieu of recent events.
Hi Jeff, On July 1, 2010, the holders of the Company’s (i) Series A Senior Secured Convertible Promissory Notes, (ii) Original Issue Discount Series A Senior Secured Convertible Promissory Notes, (iii) Series B Senior Secured Convertible Promissory Notes and (iv) Original Issue Discount Series B Senior Secured Convertible Promissory Notes, (collectively, the “Secured Notes”) foreclosed (pursuant to Section 9-620 of the Uniform Commercial Code) on the collateral securing the Company’s obligations under the Secured Notes, including the assets used in the Company’s business operations.
The foreclosure was in full satisfaction of the Company’s obligations under the Secured Notes, which had an outstanding principal amount, exclusive of interest and penalties of $7,618,951. The Company accepted the foreclosure based on, among other things, that (a) there existed material events of default under Secured Notes (including the failure to pay principal amounts when due); (b) all of the indebtedness and other obligations under the Secured Notes were unconditionally owing by the Company without offset, defense or counterclaim; and (c) there was no alternative transaction or source of funding available to the Company that would have permitted it to satisfy its obligations under the Secured Notes.
As a result of the foreclosure, the Company has ceased its business operations and terminated the employment of substantially all of its employees, including senior management.
The Board of Directors intends to explore options for the Company to acquire a new operating business. However, there can be no assurance that the Company will be successful in acquiring a new operating business or, if successful, that the terms of any such acquisition would provide existing stockholders with a significant participation in the continuing business.
If the Company is unable to identify and acquire a new operating business, the Board may recommend that the Company wind up its remaining business affairs, complete the liquidation of its remaining assets (if any), which may or may not be sufficient to adequately provide for the payment of its known obligations and liabilities, and dissolve the Company under Delaware law. We do not anticipate that our stockholders would receive any distribution in any such liquidation and dissolution.
Sincerely,
Keith Moore
Remote Dynamics
400 Chisholm Place, Suite 411
Plano, Texas 75075
+1 949 373-7281
kmoore@remotedynamics.com
I have posted it here several times since July
oops forgot this link that has me wondering about ready view
http://www.gpsworld.com/transportation/fleet-tracking/news/telogis-introduces-telogis-fleet-8-a-scalable-fleet-management-pl
Have you seen this one?
http://www.geoconnexion.com/geo_news_article/Telogis-Signs-Partnership-with-Chilean-Enterprise/9101
And this one just made me woder if it was do to the acquisition of ready view. Hmmmmm......
Don't were buddy just takes time, some times lot's of time. Here's some good reading for you and all that may either confuse ya more but hopefully not to much :o)
Reverse takeover:
Process
In a reverse takeover, shareholders of the private company purchase control of the public shell company and then merge it with the private company. The publicly traded corporation is called a "shell" since all that exists of the original company is its organizational structure. The private company shareholders receive a substantial majority of the shares of the public company and control of its board of directors. The transaction can be accomplished within weeks. If the shell is an SEC-registered company, the private company does not go through an expensive and time-consuming review with state and federal regulators because this process was completed beforehand with the public company.
The transaction involves the private and shell company exchanging information on each other, negotiating the merger terms, and signing a share exchange agreement. At the closing, the shell company issues a substantial majority of its shares and board control to the shareholders of the private company. The private company's shareholders pay for the shell company by contributing their shares in the private company to the shell company that they now control. This share exchange and change of control completes the reverse takeover, transforming the formerly privately held company into a publicly held company.
[edit] Benefits
The advantages of public trading status include the possibility of commanding a higher price for a later offering of the company's securities. Going public through a reverse takeover allows a privately held company to become publicly held at a lesser cost, and with less stock dilution than through an initial public offering (IPO). While the process of going public and raising capital is combined in an IPO, in a reverse takeover, these two functions are separate. A company can go public without raising additional capital. Separating these two functions greatly simplifies the process.
In addition, a reverse takeover is less susceptible to market conditions. Conventional IPOs are risky for companies to undertake because the deal relies on market conditions, over which senior management has little control. If the market is off, the underwriter may pull the offering. The market also does not need to plunge wholesale. If a company in registration participates in an industry that's making unfavorable headlines, investors may shy away from the deal. In a reverse takeover, since the deal rests solely between those controlling the public and private companies, market conditions have little bearing on the situation.
The process for a conventional IPO can last for a year or more. When a company transitions from an entrepreneurial venture to a public company fit for outside ownership, how time is spent by strategic managers can be beneficial or detrimental. Time spent in meetings and drafting sessions related to an IPO can have a disastrous effect on the growth upon which the offering is predicated, and may even nullify it. In addition, during the many months it takes to put an IPO together, market conditions can deteriorate, making the completion of an IPO unfavorable. By contrast, a reverse takeover can be completed in as little as thirty days
Drawbacks
Reverse takeovers always come with some history and some shareholders. Sometimes this history can be bad and manifest itself in the form of currently sloppy records, pending lawsuits and other unforeseen liabilities. Additionally, these shells may sometimes come with angry or deceitful shareholders who are anxious to "dump" their stock at the first chance they get.
One way the acquiring or surviving company can safeguard against the "dump" after the takeover is consummated, is by requiring a lockup on the shares owned by the group they are purchasing the public shell from. Other shareholders that have held stock as investors in the company being acquired pose no threat in a dump scenario because the number of shares they hold is not significant and, unfortunately for them, they are likely to have the number of shares they own reduced by a reverse stock split that is not an uncommon part of a reverse takeover.
Possibly the biggest caveat is that most CEO's are naive and inexperienced in the world of publicly traded companies unless they have past experience as an officer or director of a public company.
A major disadvantage of going public via a reverse merger is that such transactions only introduce liquidity to a previously private stock if there is bona fide public interest in the company.
Future financing
The greater number of financing options available to publicly held companies is a primary reason to undergo a reverse takeover. These financing options include:
* The issuance of additional stock in a secondary offering
* An exercise of warrants, where stockholders have the right to purchase additional shares in a company at predetermined prices. When many shareholders with warrants exercise their option to purchase additional shares, the company receives an infusion of capital.
* Other investors are more likely to invest in a company via a private offering of stock when a mechanism to sell their stock is in place should the company be successful.
In addition, the now-publicly held company obtains the benefits of public trading of its securities:
* Increased liquidity of company stock
* Higher company valuation due to a higher share price
* Greater access to capital markets
* Ability to acquire other companies through stock transactions
* Ability to use stock incentive plans to attract and retain employees
Examples
In all of these cases - except for US Airways and America West Airlines - shareholders of the acquiree controlled the resulting entity. With US Airways and America West Airlines, US Airways creditors (not shareholders) were left with control.
* The corporate shell of REO Motor Car company, in what amounted to a reverse "hostile" takeover, was forced by dissident shareholders to acquire a small publicly traded company, Nuclear Consultants. Eventually this company became the modern-day Nucor.
* ValuJet Airlines was acquired by AirWays Corp. to form AirTran Holdings, with the goal of shedding the tarnished reputation of the former.
* Aérospatiale was acquired by Matra to form Aérospatiale-Matra, with the goal of taking the former, a state-owned company, public.
* The game company Atari was acquired by JT Storage, as marriage of convenience.[1]
* US Airways was acquired by America West Airlines, with the goal of removing the former from Chapter 11 bankruptcy.
* The New York Stock Exchange was acquired by Archipelago Holdings to form NYSE Group, with the goal of taking the former, a mutual company, public.
* ABC Radio was acquired by Citadel Broadcasting Corporation, with the goal of spinning the former off from its parent, Disney.
* Frederick's of Hollywood parent FOH Holdings was acquired by apparel maker Movie Star in order to take the larger lingerie maker public.[2]
* Eddie Stobart in a reverse takeover with Westbury Property Fund allowing transport by ship, road, rail or boat to and within the UK, using only one company.
* Clearwire acquired Sprint's Xohm division, taking the former company's name and with Sprint holding a controlling stake, leaving the resulting company publicly traded.
This should keep ya busy for a while. GLTA
Ahhh, excuse me dear sir, but just what policy did I break? I am I share holder and have been for a very long time,I have not posted anything that wasn't true and factual to the best of my knowledge and if so please do enlighten me as of recent I for one am getting tired of this board being used for pumping and not as a forum as I though it was suppose to be? and also can you please enlighten us on exactly how the compensation packages work? I know this has been asked of you before but don't recall it being answered directly, just real curious especially after what went on here yesterday.
Yes I agree with that which is what makes this whole mess confusing, and of course they did not disclose terms, but the letter to makes it sound as if it's still a company.
No sir it has nevr been disclosed that shares were included, see there are two ways I have seen the actually acquisition info stated in PR's one says insinuates that only part of the assets were included. Let's think about this why is it do you think they didn't just buy the entire company from the get go? as I think we can all agree on this right? if they let this post stay as it now seems they are excluding factual post asap which is why Ihub has had some bad Press in the past because said moderators seem to be more then moderators. of course this is just moo
Yes to the best of my knowledge it is still a company, but read that letter carefully and just for the record I have never said they couldn't use the empty shell but imo part of there Delaware filing is to be able to list as a IPO and not use the shell for several reasons some of which are pretty negative. Also keep in mind the main thing they wanted and got was Rediview. That is a key everyone needs to remember.
Whoooot and maxim is at 555.00, Can you share what you must be smoking. Nothing matters with no bid. it just amazes me to here "I'm gonna hold" Folks Please remember it's not your choice you have to hold. No bid = no sell. Proceed with caution.
Can we please not continue posting such Old news in efforts to draw attention to are empty shell, it's becoming almost criminal what you are doing.
Yes there is documentation out there, somewhere on here as well. But IMO I think they will either come in as IPO or or if they do use the shell we see a unpleasant R/S as well
Yes indeed, and to all here don't get me wrong I have said for months I to hope this thing would do something but I don't like seeing people giving others false hopes with empty pumps (just like are empty shell)
They have applied
Nor will they or the MM's confirm this, there is a downside to doing the R/M versus a IPO
Ya, same as has been but actually lost a 0002 though
I hear ya, A friend and I had another similar situation with another stock as well. gloating in are chat room only to be saddened the next day. Now I wait till my sell orders go through before I show to much emotion LOL
Again Old news, Can anyone provide "NEW NEWS" here? just re-living old news and empty hopes in this empty shell.
Yes and a empty shell. to many false rumors going on here IMO
That's right as I had a sell order in for well below that and it never went through.
Terrible zero bid for months.
Yes but there were MM's on the bid back then.
That is not/was not the case again for the new folks coming by here do the the recent/current pump I urge you to proceed with caution when it comes to this empty shell (per July E-mail from CEO himself) I know we would all like a miracle but IMHO I don't think we see another sbrh here. just like cancer we can wish wish and wish some more but there will still not be a permanent cure. GLTA
LOL you may be on to something there.
Very Old news, be ware of the snare.
M1999 Why are you post old information? very old at that. starting to look like a pump, Just remember folks there is no bid,do you honestly think if a R/M (which btw is much different then a R/S) was in the works that shares would still be selling at .0001 and below and that there would be no bid? even sbrh had a bid when it when through a acquisition and exploded. I really believe this is a red flag. If it turns out to be a R/S to uptick the pps value then were actually all hosed. I just when through a few R/S and am left with one single share that technically cost me 367.00 LOL but what do you think I can sell it for? lets just say it's no where near that. nd again for those that say there going to wait, No one has a choice but to sit on them as again no bid = no sell. And once again I will revert back to and call attention to the original e-mail received from are good friend Mr. Moore. GLTA
Ice,is that not a old news release? I don't have time right now but if memory serves me correctly it is and why you continue to mislead folks is really starting to make me wonder......
PT, Slow down my friend and think about this, Is there any bid? answer = NO! not one lonely MM is on the bid nor has there been for some time. Do you not think if something of the positive nature was getting ready to happen that there would already be a bid as so they could buy cheap shares before the Rush? I personally do not think there is going to be a rush and have said so since receiving the first e-mail from mr Moor back in July and have. Hopefully I am wrong but although I am a betting man you would have to give me great odds to bet any more on this one.
That's a understatement and what I have been trying to tell you. Proceed with caution. GLTA
I,m still looking into that, but the Hi/Low is no where close and very misleading.
Those numbers are not only manipulated but 100% false as well, The 52 week high low has not been anywhere close to those numbers. Come on folks let's at least keep it real and don't try to manipulate other unsuspecting people to get hurt. GLTA
Sorry to Say, But I believe were out of cherries and the Bananas have spoiled. with all the bad publicity that has surrounded RMTD and there upper management do you really think a company of there stature would want to use there shell? I know it's a little easier but it also appears that they are preparing to to use there own. IMO but I as the rest still sit and wait to see what will happen with all are shares.
OMG, OK enough all ready, No bid = No buyers just as this has set for months I can't believe people continue to say, I'm just gonna hold or I'm gonna sell maybe tomorrow. Folks YOU CANNOT SELL Period it doesn't matter if you want to or not you Can't so people please stop insinuating you can to others that don't now. the small volume we see from time to time is merely from the poor soles that listen to pumpers. reality check do you really think this is volume on a .0001 stock with billions of outstanding? news flash I am holding my shares as well. but not necessarily because I want to but because I cant sell when there are no buyers and again no bid equals no buyers which is what we have on this one. Right wrong or indifferent that is just the way it is and has been for some time here. And just a FYI this isn't the only sub penny like this.
GLTA...
I dont see that anywhere else, so thinking that it is incorrect
Im not sure what his chart was showing either as I still show nothing on TD and have not seen a single trade since?
Not to Sound Like the Grinch here but, Several sub penny's have MM's show up with crazy looking numbers like that yet nothing ever transpires with the lack of over site from the sec with subs they seem to get away with a lot more shady things. Think about this, If there was something brewing don't you think you would see MM's show up on the bid??? after all wouldn't they want to be there to get some cheap shares from flippers before it hit that .50???? sorry again those that have been here as long as I know I do wish some kind of positive action would take place so I too could cash in as one of the so called original 34 is it now????
GLTA
HMMMM......MINE IS THE SAME AT TD AMERITRADE, NOW THAT'S A BIT PARTICULAR.