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See Post 1797:
It was stated as a "moral grounds" offer, not goodwill but probably same difference. "30:1 stock exchange for Texas Ants. Some ambiguity however exists about the restriction. Are conversions 1 and 2 shares restricted for X months after date of conversion or X months after date of IPO? If a third moral grounds offer is made they should clarify that so no one feels mistreated. GLTU
The tone of the second goodwill offer
was emphatic and unforgiving of any eligible Delaware shareholder who fails to convert. Maybe it was just a sales pitch, maybe not. Any third round exchange offer proposed at this point probably won't be all that generous anyway. It could even impose a maximum amount any one shareholder might convert.
Then again, Dr. Kautzmann might wish to distance himself now from anything Delaware for obvious reasons. GLTU
Given these new set of circumstances,
it would be kind for Dr. Kautzmann to release a brief statement. Without going into further detail he could simply state that "all RDI stockholders can remain at ease. RDI shares are safe although they are not yet tradable at this time; that includes those former Ants Delaware that Swoped".
Too early to tell, however
one take might be the Good Doctor found himself surrounded by some shady characters. He then decided to somehow make a clean break. Yes wow; federal charges and the fed doesn't play.
Sadly however for some, I read somewhere there will be no future swopes for Ants Software Delaware shareholders for those who didn't take advantage of it earlier. My guess is at this point he couldn't do another goodwill swope even if he wanted to. But who knows. GLTU
Second source:
http://www.bizjournals.com/atlanta/blog/atlantech/2015/07/u-s-dol-sues-ants-software-fiduciary-of-its-401-k.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+vertical_17+%28Human+Resources+Industry+News%29
Funny, I remember back in the day many questioning why Ant Management was not eligible for the swope. Guys, I don't know any more than you do. I just found these clippings by accident.
The drama continues.
Here's an interesting article from last month:
http://www.plansponsor.com/DOL-Seeks-Independent-Fiduciary-for-Abandoned-Plan/
I found recent filings very interesting too.
Really two takes: Alexandra Constantinople walked away with a larger exit package than she should have gotten or Management planned. Was it all really just a diplomatic firing? Who knows? The second is that Speed Commerce is now truly a different type of company. The target audience for the filing then were those institutional investors; telling them in short "keep the faith. In the future Management and staff bonus henceforth will be tied to performance".
Clearly one unknown is
7th Level Enertainment. Are both Signature and 7th Level all parts of the whole? If $50 mil is the costs to make Graffiti whole, it makes complete sense. I thought initially that Graffit and 7th Level went their separate ways. At this point, I'm no longer certain.
One possibility is the plaintiff
has demanded restitution in Preferred Shares Only; not the stinky volatile common. Speed Commerce might not wish to talk about any change in Preferred until absolutely necessary. JMHO
That's exactly the way the intelligence community
operates. Worth Allred's discoveries were never disclosed publicly, IMHO. Worth and son did die rather mysteriously. To your point, no one has actually seen or heard from our fearless leader in 6 months at least. I return to my original thesis that GTSM has always been a secret think tank of brilliant scientists quietly turning out material to be procured only by Intelligence and Defense Department until they become obsolete.
GTSM players like myself still remember the now infamous brand new semiconductor facility burning to the ground. It had government coverup written all over it. That one was really laughable how it played out.
That day came and went.
No visible change that I see.
I'm starting to believe that in fact
a settlement has already been reached. The psychology was to bring down the SPDC share price to where the settlement would be baked in. Upon official announcement, we will only experience a slight SPDC drop if any.That would explain the silence. JMHO
Jason Knobbe, Director and VP for Realdata, Inc
In Houston, TX also peaks my interest. The fact is I see software labelled RealData currently being used by several private companies now. We really need an update even if my suspicions are unfounded.
Monday conference call sure was interesting.
Nobody seemed to ask the really tough questions. It's not so much what was said but rather what was not said.
Nobody seemed to address concerns that we may not reach $1.00 a share by October and face the real possibility of delisting. The SEC may say they are just showing an example of what not to do. "We are just protecting small investors" will be their justification.
No one dared ask about the Graffiti Entertainment lawsuit even if we knew it would draw a "no comment". I was busy Monday but I thought certainly someone would step up to the plate. We can't all be shorters. Lol
The sense I'm getting is by Monday
we might be able to determine if .20-.30 is just the New Normal for SPDC; take it or leave it. We might get that from the horse's mouth Monday. I agree with one poster who remarked that October is too soon for that dramatic climb to a buck again. This time next year might be more realistic depending on more positive revelations over the next 2 weeks and a mutually agreed settlement with SDVI. GLTA
Roger that!
Conservatively speaking, 20-1 Graffitti share is not out of bounds at this point. That assumes that Speed Commerce PPS doesn't fall much further. Signature shareholders will be included as well, IMHO. I think the original plan was for GRAFF to IPO well above $5.00.
Don't know if I should mention this.
At first I thought RealData Inc and Real Data inc were two entirely different companies. As of late I'm having my doubts.
RealData Inc., Southport, CT. @realdata.com
Real Data Inc., Miamisburg, OH. @realdatainc.com
I may be wrong or it may be a recent merger. However, it would explain a lot of things. I don't think Gallinelli is our Frank, but you never know. GLTU
Not ignoring you, just that
topic for obvious reasons. I will however point out two things. Several filings may have arrived at the SEC and been posted after the delist deadline. Not certain but I suspect.
Second, Sarbane Oxley regulations recently implemented involving the issuance of stock by a private firm to another entity may apply here. According to those guidelines, Real Data Inc may have been obligated to disclose Financials at least to recipients of exchange stock. Recipients should also have had in writing what votes were taken in the past by RDI and what percentage of said stock did Dr. Kautzmann actually hold at the time. (Not saying he didn't hold majority, but just saying and BTW I'm not an attorney).
Anyway for the reasons mentioned in earlier post, none of this may ever be revealed. But I wanted you to know, I believe fair is fair. GLTU.
I read about the June 15 Conference Call.
I'm wondering if that's going to be one way or two way? Probably one way, I suppose. We'll see. GLTA
Starting to agree with me on
that National Lab idea? IMHO, the SEC has been well aware of GTSM for decades and similar firms essential to our national security. But every once and a while, they are allowed to clean up old filings and truly become a blockbuster. This does not appear to be one of those times. GLTU
They should move up the Special Stockholders meeting
from June 30 or risk the perception of unfairness. Moreover if the PPS falls much further, they risk having to re-negotiate contracts, deals, preferred holders all over again. I'm not sure but I think the presumption then was $.57. So the question is why wait? What's so magical about June 30?
I don't know what to believe any more.
I really thought at least $.20 would hold. GLTA
Clearly the important thing here is that
all SPDC stockholders receive the same information at the same time. If it turns out later that was not the case, that some were updated say a month later, that won't be good. I'm not saying that is the case here but just saying what some shareholders might already be thinking. Hopefully we're just going through a mandatory quiet period of some sort. GLTA
Why not move up the special Stockholders Meeting?
June 30 is a long way off. I guess Management doesn't believe it's warranted. However if the current PPS decline continues, IMHO we could be in the teens by then. But that's just my take and I may be wrong. GLTU
Like you guys said I'm probably not very smart,
nevertheless I may have something, then again it may be nothing at all. The JoesData business card website may have bought or leased the name Galtech Semiconductor. This suggests that a Galtech Semiconductor merger of some type did finalize and there is now no longer need to exclusively hold the name Galtech Semiconductor.
However, there's an alternative theory. There may be a merger or partnering transpiring between us and Antera Pharmaceuticals (ANTH). I say that because I found at lease three business cards that cite both Galtech Semiconductor as well as Antera. They are:
Paul F. Truex
Pres./CEO, Founder of Galtech Semiconductor
Debra Odink
Senior VP/CFO Galtech Semiconductor
Christopher S. Henney
Chairman, Galtech Semiconductor
Coincidentally, all hold the identical positions at Antera Pharmaceuticals. All list Antera website in the corner of the card. A fourth business card, Christopher P. Lowe, CFO, Chief Business Officer, I was unable to confirm yet. Guys, I know this is all very silly but I just thought I'd mention it. GLTA
Thanks for dropping by BB.
The fact that the alleged non-payment occurred during an ongoing IPO is significant because of long standing securities regulation which favors a new stockholder straining their eyes to read the fine print. So I'm optimistic; whether or not we deserve it is another story. Lol
One interesting additional note; in order to act as one's own Transfer Agent Ken must have been highly bonded At least the brokerage houses appeared to have treated us as if they reviewed appropiate bond documentation. If none existed, there's enough blame to go around. However, IMHO the court will only go after the catalyst, SPDC.
This is the sense I'm getting
although nothing has been told to me. Hold off on all grips, grudges, vendettas six more weeks until after a June 30, Special Meeting of Shareholders in Richardson. After that, you will be taken care of IMHO. Of course if you also personally own SPDC stock you can attend, but just listen, don't interrupt, just "be cool".
I have said in the past that I like their e-commerce business model. That still holds true. We've waited three years what's six weeks. GLTA
Nothing in writing yet from either camp
to my knowledge. Hopefully soon, this is brutal. GLTU
Today's announcement already baked into current PPS.
We all knew that credit and lender contracts would be revised accordingly. IMHO this is still the new normal. No substantive change in PPS until an outcome is reached with Graffiti Entertainment lawsuit, the elephant still in the room.
Sure thing. I can shut up for 3 weeks or so. GLTU
This appears to be the new normal.
The silence from Management speaks for itself. Talks of a big bounce are highly exaggerated. JMHO
Feels more like earthquake aftershock. Just saying.
One concern which Management should consider:
Did everyone get the news at the same time? Whatever that news might be. They don't really need another batch of disgruntled stockholders. I would recommend they simply tell their story, whatever that might be; and within the coming days not weeks. The trouble is that after that .57 fiasco all credibility has been shot. If .30 is the new normal, come out and say that. Then tell your story. All everyone wants to know is where's bottom and why? JMHO.
But wait!
Is Jeff Zisk buying back SPDC stock at these super low prices or dumping it? I see 20s being tested by week. GLTU.
Looks again like another fakeout.
Looks like negative news recently received. JMHO.
Mums the word.
Sorry can't comment further. Real Data Inc and its many off shoots is in actuality a National Lab, a quasi Goverment think tank. IMHO, it has done so for decades. It is owned and operated by our intelligence community and that trumps everything else.
So yes, we probably have a valuation of $1.24 billion. That said, we probably won't be going public anytime soon. JMHO.
Just a graveyard company website for now. GLTU
The fact that they may still change
their minds. Just a bad feeling, but that's just me. GLTU
The October deadline was offered in good faith IMHO.
But that was then and this is now. I think there was an implicit understanding SPDC pps would hold when it was offered. However our downward momentum persists. Two possibilities come to mind: a healthy R/S or an involuntary delist. Sorry guys, it hurts me to say that. GLTA