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It’s actually not a straight purchase of stock. It’s a combination of purchase and some sort of convertible promissory note payable over the next few months. Which is interesting because I think that’s when DK’s loan is supposed to be repaid.
I stand corrected. Thanks Dino
Loans......that’s the first time I remember Saunders loaning money in.
Loans......that’s the first time I remember Saunders loaning money in.
Blast from the past. Here is where we were almost 11 years ago. It was impressive:
Following are my notes on the January 29, 2009 Torvec Shareholders Meeting (please note that some of this is my interpretation of what I heard and thus reasoned out on my own, so no exact quotations) (I feel strongly that the Gleasman's are doing an excellent job and I was very impressed with Andy's progress and very important role in the company.):
• Torvec received a proposal in December from a large automotive manufacturer, not Ford, to give Torvec $10,000 for each FTV that was sold. Jim said that if just 5,000 FTV’s were sold it would equate to $50,000,000 going to Torvec’s bottom line. This would be a license agreement. The person responsible for this proposal was recently promoted to be the V.P. of International Trade, they are still spearheading this contract. This would give Torvec the ability to list on NASDAQ, and start paying dividends of maybe $1-$100? There are 8,000,000 pickups/4 wheel drives sold in the world per year. If just 10% of this market switched to FTV’s you would have 800,000 X $10,000 = $8,000,000,000 (8 Billion Dollars!) Let’s be even more reserved and say just 1% of market at first, 80,000 units = $800,000,000. There are only about 32 million shares of Torvec stock outstanding, even if this went up to 50 million this would equate to $1/share dividend for a sale of 5,000 FTV’s; $16/share dividend for a sale of 80,000 units; or $160/share dividend for a sale of 800,000 units! Jim said what do you think the share price would do if Torvec were paying out dividends of from $1 - $100? It used to be if a company had a revenue stream of say $1 per share the stock would trade on a multiple of roughly 10+X with greater multiples for technology stocks, and this is just one of many components of Torvec!
• Air Force is testing their FTV in Florida now along with a group of Torvec’s engineers! They will be giving requests/recommendations towards the second generation FTV and a Torvec/Air Force Contract, high demand is expected.
• GM is working toward buying IsoTorques, with an initial purchase of half a million units for rear wheel drives and they also want them for maybe six Front Wheel Drive Models. The big selling points are that the IsoTorques are less expensive than limited slip differentials which they currently have and they are safer: they would eliminate Torque Steer; this is what all limited slip differentials are prone to. Shown clearly when burning out and holding the steering wheel straight, a limited slip differential will veer off right or left, while the IsoTorque equipped vehicle will hold straight, even when not touching the wheel (hands in the air!).
• As of six months ago, one of the world’s largest heavy truck manufacturer’s is interested in a new inner axel differential, basically a large IsoTorque for the inner axel of a truck, class 8, or a Freight delivery vehicle, like FedEx or UPS. They are in a licensing discussion with Torvec now, along with a military and special vehicle company.
• Nissan has a standing order to purchase 1,000 – 2,000 IsoTorques from Torvec, but Torvec cannot afford to spend the $300,000 to manufacture this size order right now. Torvec is talking with others in order to get larger orders that would be more economical.
• Two new trademarks: The Torvec shield and on the IsoTorque.
• Eaton/EPA hydraulic launch assist that they have spend 3-5 years on is inefficient and way to overpriced, payback would be in 20 years per vehicle when the vehicle is only owned for 10 years. At an extra $75,000 per vehicle this is going nowhere! Torvec has the technology that will work at the right price! Diesel with steady state IVT and virtually no emissions.
• Hodges Transport Proposal as part of Office of Naval Research interest in Torvec technology, IVT or IsoTorque?
• Andrew and Asher went to Washington D.C. on Monday. School bus program not dead. Confidential, could not discuss what the meeting was about.
Yes loans. Not common stock, the pump sale will provide the liquidity to pay back the loans.
I'm glad the loan was monetary as opposed to ................I give up, what?
Sweep, I believe the revenue comes from using the platform. They give you app but you must pay for a subscription.............I think anyway.
What's funny is, I searched Cura in the app store and there is a Cura Health app. Unrelated of course. The app is in fact free. I'm overwhelmed with excitement. I think the father along this goes the worse it looks. It will be great when all the corporate insurance company sales come in. Q Donnelly stage right.......
You can tell my watching the stock price. Hopefully this launch is better than the last launch.....
Where do we stand with the CRGS SEC report? I guess it's safe to say that it was the same as Donnelley's 200K Cura users by year end. No credibility in either case.
I wrote this off long ago. All the low hanging fruit has rotted. The tech was not what we were told. The stock price tells you what the sleep tech is worth. The Miami media blitz was incredible. JG was the driving force. When he died the company died. It’s taken years for that to become apparent. Breathe in, breathe out, move on. It’s not going to happen.
I sold to take a tax loss years ago. Bought back at $.19. Great move......
This quarter should be the best ever then the 200K cura users hit in the next couple of hours.
Too bad there’s no short report....
Comfortable with this investment? LMAO
" just saw 160k volume day and the price went up"
The price went up on 160,000 shares yesterday $.0025. Not even a penny. If you think that's great god bless you. Let's see what happens if we put a block of 2,000,000 shares out. You will notice that your qoute of mine says WE can't get out not I can't get out.
Some support? Don't you know there is no support? It's just the naked shorts covering.
Now, If you want to talk about something really important let's talk about the SEC report........ or the 200k Cura users we are going to have next week. Or were they a blatant lie and a over optimistic projection?
The fact that 100,000 shares are being traded and the price is not moving says it all.
Still holding out hope that the SEC report filed by Oakie will make a difference.
With less than a penny increase in price. It's wonderful.
Good news is we have revenue coming in the next week from 200k Cura users.
Oakie, please update us on the SEC report when you get a chance. Thanks.
A report was threatened-promised, I think it only fair that you let us know what the result was. Is the SEC going to step in and help the long suffering Torvec shareholders or was it all BS?
So far our pump is worthless.......
Not to be a wise guy but what does it matter? Any funds from the pump are going to fund the Cura.
Looks like the naked shorts are covering. Thanks C
IMO, the only reason he’s putting money in is TG.....
I don’t see why they couldn’t but I don’t work for the SEC.
$.06. Hey Donnelly where are the 200K users?
It should, Linden Oaks is a huge step up in quality of office space.
Always nice to get publicity based on the death of two people when you aren’t marketing your product to individuals. If it was a commercial truck driver I could understand it. I hope that channel 10 reached out to the company and not the other way around.
The app went live 6 months ago. We had guys here buy it...
Wow, that was great.......
Wow, that was great.......
When I first heard about this product that's exactly what I thought it did. You wear a bracelet and when you start falling asleep it "zaps" you to wake you up. I see huge value in that but I don't think it even does that. Maybe it does??
Apparently there is no accountability for making ridiculous statements. There isn’t now and there never has been.
Hey Donnelly, how about an apology for your 200,000 Cura user comment? How about an explanation how you could make such an irresponsible statement and still have a job? How about when something went wrong and it obviously did, you respect us enough to explain it to us? Or... don’t you give a S$#t about all the hard working people who believed you? How tough is it to give us some respect?
I got to thinking that the worst salesmen in the world should still be able to sell a “world changing” product. I think we, including the BOD were duped as to what we had. David Carlyle (sp) knew it. Warned us, but we didn’t listen.
Yup a bowl of soup and half a sandwich.
Yup, I've written this off long ago. Anything I get will be a bonus at this point........
Leit,
Averaging down on this dog is like vomiting and rolling in it. If there was 1 positive I could see it. It's money you can burn, I get it.
After 20 years the only money from anything with a tie to a Gleasman will be used to fund another unknown technology. Lets talk about the definition of insanity..........
What did David Carlyse say? Something to the effect that "they almost made it to the confessional". Someone correct me if I'm wrong. Pretty sure that was in his resignation letter. He got killed on this board...
Leit, I know you get it but some of these guys don't get this is a lottery ticket at best. Stop trying to tell us it's anything else. IMHO as always.
Leit, you’re kidding right?