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Must have been a bad trade. Went to 30 cents and now is back to .05. Like a minus 83.33% change on MSN Money. Had to reset the request for quote.
SharonB
We live in interesting times.eom
MSN Money shows no trades. Current .03 eom
The damage done from a technical analysis POV yesterday was extremely serious and negative. Not a single buy indicator. After a drop of 75% I can't even suspect we have an oversold situation.
One thing I have learned when speculating in Pink Sheet Stocks, there is always something new to consider. The overwhelming situations I experienced or have heard about have worked out to sell on the bad news or re-finance news. This is not the case, as I see it with ILCO.
We recently had a re-organization which indicated an expanded marketplace for our services. We have added two directors, a new President/CEO, and have referred to a Board of Directors for Northern Africa to oversee operations. According to well publicized informal info, we have good contacts in Libya and lots of experience in that part of the world.
The very fact Mr. Kadrija Hamzic, CEO & President decided to join ILCO so recently gives me reason to look for what this reverse split brings to the table. I have to believe he was aware of the RS and perhaps even insisted on it before agreeing to take on this project.
If I were wealthy, I can make a case for taking the price per share down, reducing the float to create volatility, and buying shares to reduce the float even further. The key is to keep the company closely controlled. The pathway to profit is through successful operations and the rewards coming in the form of dividends, not PPS. Whether they will take care of the minority shareholders remains to be seen.
Anyway, just food for thought. SharonB Barchart TA follows:
08/28/07 0.0006 0.0006 0.0002 0.0002 -0.0006 20299588 -75.00%
Composite Indicator
Trend Spotter TM Sell
Short Term Indicators
7 Day Average Directional Indicator Sell
10 - 8 Day Moving Average Hilo Channel Hold
20 Day Moving Average vs Price Sell
20 - 50 Day MACD Oscillator Hold
20 Day Bollinger Bands Hold
Short Term Indicators Average: 40% - Sell
20-Day Average Volume - 1002880
Medium Term Indicators
40 Day Commodity Channel Index Hold
50 Day Moving Average vs Price Sell
20 - 100 Day MACD Oscillator Sell
50 Day Parabolic Time/Price Sell
Medium Term Indicators Average: 75% - Sell
50-Day Average Volume - 635174
Long Term Indicators
60 Day Commodity Channel Index Hold
100 Day Moving Average vs Price Sell
50 - 100 Day MACD Oscillator Sell
Long Term Indicators Average: 67% - Sell
100-Day Average Volume - 1320032
Overall Average: 64% - Sell
Price Support Pivot Point Resistance
0.0013 0.0012 0.0013 0.0014
http://quotes.barchart.com/texpert.asp?sym=ILCO
John: How does that work? They do not have a history of abusing the shareholders by diluting the shares. In fact they have done just the opposite 2 times in the past. This doesn't dilute our shares in any way other than as I mentioned earlier the leverage a large number of shares has vs small price changes.
I feel a need to let this work out and see what the company is up to.
The last restricted share increase was also affected by the 150:1 RS. I am fairly certain they didn't go into this without a good reason. One thing it has done is reduce the float by a 150:1 factor. If my math is correct that brings the float down to around 2.41M shares. I'm not fond of such a low float and suspect the company will have to reverse some of this last split to have the opportunity to sell shares at a reasonable price if that was/is their intention at some future point in time.
Another way to look at this is it sort of freezes them into a position where it cannot be unwound without severe degradation to the intrinsic value of the shares by the MMs.
This reminds me of description, from days of yor, that goes something like this.
We have an enigma within a paradox within a mystery.
SharonB
Sent following e-mail to co.
Dear Mr. Kadrija Hamzic, CEO & President
Info: Mr. Radomir Popovic, Vice President
I just heard about the 150:1 Reverse Split effective tomorrow, August 27, 2007. Some of the investors as well as myself are asking why a reverse split. Why now? Why 150:1? What is the purpose and gain Innotelco will get from this action.
During today’s trading, from about 2:15 to 2:30 the share price dropped to .0002. Our share price per share has been falling on reduced investor interest as indicated in the gradual reduction in trading volume. The lack of information from Innotelco can be directly linked to trading volume.
Many are concerned that if the flow of information continues in the same manner as it has this past year, the price will drop from what it opens at tomorrow to what it closed today at .0002. It will have to hold at .03 cents a share just to equal today’s close which was a loss of 66.67% from the days open. Without news, what is to stop another drop to .0002.
I’ll be happy to post any reply to the Investors Hub message board for Innotelco investors.
SharonB
John: The opposite has happened with me. The stock obtained financing, moved on to the otcbb, and eventually reached well
over a buck and a quarter.
SharonB
Another thought. In my past experiences the RS was used to increase the Market Capitalization to qualify for entry on to another stock exchange. In our case there is the opposite action happening to our stock with todays trading.
I suspect it is a misguided judgment to sell, but to each his own.
Any other ideas that might make sense as to how this hurt any shareholders other than the leverage of number of shares vs price movement would be welcome.
SharonB
Poor Papa: Please tell me why you see it as a terrible development? There is no change in the basic valuation. Same CAP dollars, just a different formulation in the share distribution.
Instead of having 150,000 shares it would be 1000 shares. The price should have gone up, not down.
Am I having A SENIOR MOMENT?
Sharonb
Just got of phone with Marsha, the transfer agent. Confirmed RS. Can't get new figures until tomorrow.
SharonB
Nope: just got on board. Going to send an e-mail in a bit.
No announcement that I know of has been published. Need to call transfer agent for update as to new Authorized sahres, restricted shares, and float.
SharonB
Time and sales 15 min delayed.
Rec. Time Action Price Volume
2:34:10 PM Trade 0.0003 745000
2:34:10 PM Trade 0.0003 5000
2:34:06 PM Trade 0.0002 750000
2:33:38 PM Trade 0.0003 121650
2:33:30 PM Trade 0.0002 750000
2:33:30 PM Trade 0.0003 750000
2:33:02 PM Trade 0.0002 100000
2:19:46 PM Trade 0.0002 17960
2:18:56 PM Trade 0.0002 100000
2:18:56 PM Trade 0.0002 100000
2:18:52 PM Trade 0.0002 100000
2:15:46 PM Trade 0.0002 195000
2:15:02 PM Trade 0.0003 5000
2:14:42 PM Trade 0.0003 25000
2:14:00 PM Trade 0.0003 25000
2:13:50 PM Trade 0.0003 59300
2:13:42 PM Trade 0.0003 59300
2:13:42 PM Trade 0.0003 59400
2:13:34 PM Trade 0.0004 50000
2:13:30 PM Trade 0.0004 50000
2:13:16 PM Trade 0.0004 25000
2:13:04 PM Trade 0.0004 50000
2:13:04 PM Trade 0.0004 5000
2:12:58 PM Trade 0.0004 83300
2:12:32 PM Trade 0.0005 200000
2:12:24 PM Trade 0.0005 50000
2:12:18 PM Trade 0.0005 5000
2:12:04 PM Trade 0.0005 5000
2:11:46 PM Trade 0.0005 5000
2:07:10 PM Trade 0.0006 50000
2:06:40 PM Trade 0.0006 25000
..................Total…4,570,917
Close: Time and sales
Rec. Time Action Price Volume
3:40:34 PM Trade 0.0007 614000
2:03:54 PM Trade 0.0006 314000
2:03:20 PM Trade 0.0006 131000
2:01:12 PM Trade 0.0007 80000
1:35:58 PM Trade 0.0007 620000
12:30:06 PM Trade 0.0007 500000
12:27:34 PM Trade 0.0007 400000
12:27:30 PM Trade 0.0006 500000
11:30:24 AM Trade 0.0006 35000
11:12:42 AM Trade 0.0007 100000
11:03:48 AM Trade 0.0007 50000
11:03:30 AM Trade 0.0007 50000
11:03:12 AM Trade 0.0007 5000
11:02:50 AM Trade 0.0007 20000
11:02:00 AM Trade 0.0008 100000
11:01:40 AM Trade 0.0008 200000
11:00:58 AM Trade 0.0008 100000
9:56:00 AM Trade 0.0008 35000
9:39:52 AM Trade 0.0008 245000
9:39:32 AM Trade 0.0008 5000
9:38:56 AM Trade 0.0009 5000
9:38:54 AM Trade 0.0009 45000
9:38:26 AM Trade 0.0009 25000
.......................Total volume ..4,228,919
Time and sales. Hey Radimor look!!!Good time to buy!!!
Rec. Time Action Price Volume
12:30:06 PM Trade 0.0007 500000
12:27:34 PM Trade 0.0007 400000
12:27:30 PM Trade 0.0006 500000
11:30:24 AM Trade 0.0006 35000
11:12:42 AM Trade 0.0007 100000
11:03:48 AM Trade 0.0007 50000
11:03:30 AM Trade 0.0007 50000
11:03:12 AM Trade 0.0007 5000
11:02:50 AM Trade 0.0007 20000
11:02:00 AM Trade 0.0008 100000
11:01:40 AM Trade 0.0008 200000
11:00:58 AM Trade 0.0008 100000
9:56:00 AM Trade 0.0008 35000
9:39:52 AM Trade 0.0008 245000
9:39:32 AM Trade 0.0008 5000
9:38:56 AM Trade 0.0009 5000
9:38:54 AM Trade 0.0009 45000
9:38:26 AM Trade 0.0009 25000
................total....2,420,000
Fm Pinksheets .com, sales and volume from FRT.
Best Bid Best Ask Time of Last Inside Change
0.0007 (5000 shares) 0.0008 (5000 shares) 9:39 AM
....
Rec. Time Action Price Volume
9:39:52 AM Trade 0.0008 245000
9:39:32 AM Trade 0.0008 5000
9:38:56 AM Trade 0.0009 5000
9:38:54 AM Trade 0.0009 45000
9:38:26 AM Trade 0.0009 25000
SharonB
PS> President George Walker Bush will be remembered as the savior of the Iraqi people and Democracy in the Middle East.
The rights of minorities to partake in government decisions are the logical and most honest ideals that the insurgents, terrorists, and their sponsors are afraid of.
Iraq has all the natural resources to provide for it's citizens and become a Paris of the Middle East. It is a beautiful country with 2 flowing fish laden rivers with hugh beaches. The Sunnis are sitting on a paradise that only needs to be developed. It can't happen until there is security and investments. The rest of the country has oil, related industries, and agriculture which can provide the natural resources for investment in the required infrastructure that urgently needs repair.
It will happen, the government needs time to settle issues and I believe we are giving them that time. This will be the death kneel of terrorism as we know it from the Radical Islamic terrorists. It will have little effect on other terrorist attacks by people with different agendas.
SharonB
Re: "I dont remember who it was..but he said it so right If the government here put the country on a state of MARSHALL LAW.NOBODY WOULD DO A DAMN THING."
Does that mean if you don't disagree with the governing politics in general, then you must express your disappointments on an important side issue in an active manner.
In an environment such as today’s where the opposition wouldn't and doesn’t, as a rule, appreciate a dissenting opinion, it seems ridiculous to subject oneself to the slander and abusive remarks by the activists. These activists rarely offer an opinion with a proposed solution. If the proposal has flaws they often refuse to come up with another solution proposal and will gloss over the flaws.
It usually breaks down to the lesser of many evils being the appropriate course already selected and being acted upon by the decision makers we elected.
Seems to me the liberal contingent on this board is nearly outnumbered by the less than thirty independent crowd. Thank goodness it doesn’t reflect the thinking of the nation as a whole.
SharonB
John:At these prices it would be cheap. Only problem is this moves on a dime, so the iron has to be hit while it is hot, not after it takes off to maximize profits.
The home appraiser just left so my money is getting closer.
SharonB
John: I don't think there will be much support even at these levels. I'm still arranging some financing, but to put more here until the air is cleared isn't logical to my way of thinking.
May change my mind once I have funds in my grubby little mits.
SharonB
Time and sales 20 min delayed
Rec. Time Action Price Volume
11:13:16 AM Trade 0.001 10000
11:13:06 AM Trade 0.001 10000
11:13:00 AM Trade 0.0011 4500
11:12:50 AM Trade 0.001 5000
11:12:50 AM Trade 0.001 95000
11:12:50 AM Trade 0.001 5000
11:12:46 AM Trade 0.001 10000
11:12:42 AM Trade 0.001 100000
11:12:40 AM Trade 0.001 222000
11:12:36 AM Trade 0.001 10000
11:12:36 AM Trade 0.001 5000
11:12:00 AM Trade 0.0011 25000
11:12:00 AM Trade 0.0011 5000
11:11:50 AM Trade 0.0011 5000
11:11:44 AM Trade 0.0011 5000
11:11:44 AM Trade 0.0011 5000
11:11:44 AM Trade 0.0011 132500
10:56:58 AM Trade 0.0011 62500
................total...716,700
Trade Data / Last Trade 08/07/2007
0.0011 (5000 shares) 0.0014 (5000 shares) 9:01 AM
Latest news according to Pink Sheets
Pub Date Headline
Jul 31, 2007 BUYINS.NET: NCNC, SLRE, IZYPF, ILCO Have Also Been Removed From Naked Short List Today
……..
Off to the golf course. Got some new sticks and am dying to try them out. This is dead meat until information becomes available, as I see it.
CUL
SharonB
John: Sure it would be nice to get something we can use to help evaluate what we own. No question about that. I prefer to wait until they are ready to pull the rabbit out of the hat than to get a fluff PR without any meat.
I am fairly certain they are aware of our request for information and just don't see anyway to make it happen any faster. I certainly do not see where continual harping and griping helps one bit. In fact, I think it harms more than helps. It isn't a situation where the squeaky wheel gets the first grease, it is just a case where the news isn't there or cannot be published at this time in the opinion of the management. We have a new President/CEO and maybe he will be able to help here.
SharonB
Tunisia: "Tunisia Has All It Takes to Become a Promising Economic Center" Says CEO of " Dubai Holding".
Tunisia Online (Tunis)
7 August 2007
Posted to the web 10 August 2007
"Tunisia has all it takes to become a promising regional economic center, given its privileged geographic destination and the availability of highly skilled competences", said Mr Mohammed Al Gargaoui, the Minister of state in charge of business issues at the council of ministers of the United Arab Emirates and the CEO of Dubai Holding.
The announcement came on Tuesday during a press conference in Tunis . Mr Gargaoui said that work on the project will be launched the next months after the various scale models of the project are completed.
He also announced that the project will generate some 140,000 jobs for young Tunisians, adding that the choice of Tunisia to house one of the most impressive building projects of its history, is in line with President Ben Ali's vision to make of Tunisia an international business and service center and promote economic activity by attracting more investors and international companies.
The project which is also known as the "gateway to the Mediterranean ", will be built in accordance with Tunisia 's architectural style said "Dubai Holding's" CEO, while remarking that it will also be based on cutting edge technologies in order to build the most modern and 'intelligent' buildings in the world.
It is to be noted that "Sama Dubai", "Dubai Holding's" real estate branch, will invest the equivalent of 14 billion US Dollars in this new city dubbed "The City of the Century" which spans 837 hectares overlooking the southern Tunis lake area.
It is also to be expected that the project which was inaugurated on Monday by President Ben Ali in the company of UAE Vice President, Prime Minister and Ruler of Dubai, Sheikh Mohammad bin Rached Al Maktoum, will necessitate some 1200 million dinars of investment per year over a period of 15 years.
After an initial cleaning up operation, the project which will be executed in 15 years, will comprise marinas, 14 luxury hotels , a center for technological and financial services, recreational and sports facilities, housing units , as well as a 14 kilometre long coastal road overlooking the water front.
http://allafrica.com/stories/200708100869.html
Hmmm Lots of cement.
Hold the fort down Last time I went to play golf we got an PR.
Hope we get another, but with some real meat in it.
SharonB
If anybody needs a reminder about what happens in this part of the world we are involved in, let this be a refresher news item.
I doubt anybody here condones this type of treatment, but it is always wise to understand the environment you are working in. This goes for medical personnel, religous evangelists, tradesmen, military personnel, and every occupation you can think of.
Bulgarian medics testify about torture in Libya
Vessela Sergueva
AFP
August 10, 2007
SOFIA -- Six Bulgarian medics freed in July after spending more than eight years in a Libyan prison told an investigation commission Friday in Sofia how they were subjected to torture in jail.
Their testimony came two days after Libyan leader Muammar Gaddafi's son confirmed in a television interview that the six had been subjected to electric shocks during their detention.
The medics, a Palestinian-born doctor who has become a Bulgarian citizen and five female Bulgarian nurses, were convicted of deliberately infecting over 400 Libyan children with the HIV virus at a hospital in Benghazi where they worked.
But they were pardoned by Bulgarian authorities when they returned home last month under a compensation deal worked out with the children's families.
The doctor, Ashraf Juma Hajuj, had described how they were "treated like animals" and subjected to electrocution, beatings, and sleep deprivation.
Gaddafi's son Seif Al Islam, who helped negotiate the medics' release, acknowledged in an Al Jazeera television interview broadcast Wednesday that "the question of torture ... has been established.
"What the Palestinian doctor said is true and I have given him and his family lots of help."
"There was torture by electricity ... they scared them ... I mean there was a threat of aggression against his family," Seif Al Islam said.
He said that there were "also lies" in the Palestinian doctor's statements, but added "that does not mean there was no torture."
The investigation commission meeting Friday was launched at the beginning of the year to determine whether charges could be filed against Libya on behalf of the six medics. It was instigated by revelations made by the families of the nurses, who were still on death row in Libya at the time.
Margarita Popova, spokeswoman for the Bulgarian prosecutor's office, said Friday that "after the investigation has been completed, charges may be formulated based on the evidence collected."
The medics have said that they were subjected to "medieval tortures" and that police officers set dogs on them in order to force confessions.
One of the nurses, Nasya Nenova, attempted suicide. She has said that she did this as she could not stand the torture.
Hajuj is planning to sue Gaddafi, accusing the Libyan leader of holding him hostage, the Dutch news agency ANP reported Sunday.
The medics have always maintained their innocence, with the support of international experts who have said that the HIV infections occurred before their arrival at the hospital and were sparked by poor hygiene.
Bulgaria is writing off Libya's communist-era debt as a contribution to an international fund for the victims.
French President Nicolas Sarkozy, who helped negotiate their release, has denied accusations that he traded it for a nuclear cooperation deal with France and military contracts with European defense firm EADS, which were announced days after the medics' return home.
SharonB
Poor Papa: You reminded me of something I left off from my reply tp Paunch13.
At the risk of sounding repetitious, this company does NOT match the persona of a typical pink sheet company.
1. The Outstanding shares have been reduced, not increased which is a tactic most pinkies take for various reasons.
2. The latest increase in share distribution was in restricted share form. The reason is unknown to me. I suspect it was part of an incentive package to the new CEO and President, Mr. Kadrija Hamzic and perhaps the outgoing executive.
3. The time, effort, experience, and contacts acquired by management over the past year could well prove to be extremely valuable to Innotelco. The Maghreb region is growing rapidly; becoming more attuned to world economics and politics.
4. An area where it does look similar to pinky shares is in the price per share. At .0012 this looks very attractive to a speculator such as me. This is an opportunity to gather a good sized bucket of shares in a moderately skimpy number of outstanding shares.
5. The trading volume is small, but the pps rises substantially with little relative buying pressure. To me that represents a solid core of long shareholders who will not sell at these low levels or to put it another way, a low float. This is what I call risk to reward. I feel the reward far outweighs the risk and will add to my holdings in the future.
6. DD from past posts on this board for new and interested investors. Remember never invest more than you can afford to lose.
This is a startup company and very speculative at this time.
http://www.investorshub.com/boards/read_msg.asp?message_id=17001053. There have been changes from these Press Releases, but we surely got exposure, experience, and leads for growing our company.
7. There is just to much potential here to ignore. New management; a Board of Directors for Northern Africa which added two seasoned managers. Last but not least, the contacts our new President, Mr. Kadrija Hamzic brings to the venture. You can read a little summary about him in the last Press release. http://biz.yahoo.com/iw/070730/0283952.html
SharonB
Time and sales. 20 minute delayed.
Rec. Time Action Price Volume
1:43:12 PM Trade 0.0013 175000
1:19:58 PM Trade 0.0012 12500
1:19:38 PM Trade 0.0012 12500
1:19:12 PM Trade 0.0012 5000
1:19:02 PM Trade 0.0012 5000
1:18:48 PM Trade 0.0012 94450
1:18:48 PM Trade 0.0012 25000
1:18:48 PM Trade 0.0012 5000
1:18:42 PM Trade 0.0012 25000
1:08:30 PM Trade 0.0012 10000
12:38:46 PM Trade 0.0012 766000
9:30:56 AM Trade 0.0012 250000
9:30:04 AM Trade 0.0012 555
...............................total 1,386,210
SharonB
osignal: I am more worried about the broker to broker trades that are not reported as FTD instances. I don't see where the Grandfather Clause will help in that case for many of the companies or the removal for the up-tick rule recently enacted for that matter. In fact it would hurt ILCO or any company under a bear raid. This was a gift to the hedge funds that I think is terribly wrong.
It was worth noting that the subject NSS and phantom shares were brought up by Senator Bennett of UTAH at the referenced meeting below.
Committee: US Senate Committee on Banking, Housing, and Urban Affairs on 7/31/2007
Title: The State of the Securities Markets To view Senator Bennett go to the following link. http://banking.senate.gov/index.cfm?Fuseaction=Hearings.Detail&HearingID=274
That will lead to the following link after installing free real player. Then you will be re-directed to:
http://banking.senate.gov/07_07hrg/073107/archive.ram .
Go to 01:22:00:00 time to see Senator Bennett’s starting comments. The closing comments end at 01:31:00:00. The whole hearing is informative. You might want to listen from 01:16:00 about hedge fund valuations and just keep listening through the Bennett section at a minimum. IMO.
Link to PDF Finance Comm to SEC re Aguirre etc (SEC dropping the ball)
http://www.finance.senate.gov/sitepages/leg/LEG%202007/36960.pdf
(It is located in the article after opening up.
http://www.nytimes.com/2007/08/04/business/04pequot.html?_r=1&adxnnl=1&oref=slogin&adxnn.... )
SharonB
Paunch13: At the risk of sounding repetitious, this company does NOT match the persona of a typical pink sheet company.
1. The Outstanding shares have been reduced, not increased which is a tactic most pinkies take for various reasons.
2. The latest increase in share distribution was in restricted share form. The reason is unknown to me. I suspect it was part of an incentive package to the new CEO and President, Mr. Kadrija Hamzic and perhaps the outgoing executive.
3. The time, effort, experience, and contacts acquired by management over the past year could well prove to be extremely valuable to Innotelco. The Maghreb region is growing rapidly; becoming more attuned to world economics and politics.
4. An area where it does look similar to pinky shares is in the price per share. At .0012 this looks very attractive to a speculator such as me. This is an opportunity to gather a good sized bucket of shares in a moderately skimpy number of outstanding shares.
5. The trading volume is small, but the pps rises substantially with little relative buying pressure. To me that represents a solid core of long shareholders who will not sell at these low levels or to put it another way, a low float. This is what I call risk to reward. I feel the reward far outweighs the risk and will add to my holdings in the future.
SharonB
paunch13: I doubt that. Time and sales.
Rec. Time Action Price Volume
9:30:56 AM Trade 0.0012 250000
9:30:04 AM Trade 0.0012 555
Can't tell if that 250,000 transaction was a sell or buy. I believe somebody bought shares at these good purchase levels.
The current ask price is .0018.
Click on the chart linked in the Ibox and click on weekly and the chart shows the .0005 level last ocurred in Oct/Nov of 2006. I believe we have fewer shares than then outstanding, a new President, new Board of Directors for North Africa, new contacts in the region, and a far different company business plan. I might add that it appears to me to be a better opportunity than back then.
SharonB
It will be interesting to see if the support level holds by days end. The last PR was enough to cause serious doubt by some investors and did nothing, IMO, to ease many concerns.
Such is the life in pinkyland.
SharonB
France confirms major arms deal with Libya
Emma Charlton
AFP
August 3, 2007
PARIS -- Libya has reached a major arms deal with the European aerospace giant EADS, the first since a weapons embargo was lifted on Tripoli in 2004 and a potential source of embarrassment for French President Nicolas Sarkozy.
French defense minister Herve Morin confirmed Friday that a letter of intent had been signed for the sale of Milan anti-tank missiles and a radio communications system worth, according to a Libyan official, €296 million ($405 million).
News of the deal was set to fuel controversy, coming the week after Sarkozy and his wife Cecilia played a key role in brokering the release of six foreign medics sentenced to life imprisonment in Libya.
The five Bulgarian nurses and Palestinian doctor were flown home last week after an eight-year incarceration on charges of deliberately infecting hundreds of Libyan children with the Aids virus.
Sarkozy, who traveled to Tripoli to sign a nuclear and military cooperation agreement a day after they were freed, has presented their release as a success of French and European diplomacy and denied any link to an arms deal.
But Libyan leader Muammar Gaddafi's son, Seif Al Islam, said in an interview published Wednesday that the resolution of the medics' case had paved the way for the signing of major weapons contracts.
The leader of the opposition Socialist Party, Francois Hollande, demanded a parliamentary enquiry to decide if the government behaved inappropriately.
"If there was no exchange, if there was no bartering, why sign a military agreement with the Gaddafi regime, which has been responsible for terrorist acts, which has been a rogue state?" he asked. "How can we accept that in a democracy Nicolas Sarkozy wants to be transparent it should be Gaddafi's son who informs us of the signature of an arms contract, when the foreign minister knows nothing of it and the defense minister is still talking of a 'letter of intent?'" Hollande said.
Morin said that the missile accord was "an agreement between a company and a country," which had long been in the negotiating pipeline, and that the sale to Libya had been approved by the government of Sarkozy's predecessor Jacques Chirac.
"When you have been in talks for months and months, when a French interministerial committee says, in February 2007, 'we agree to this sale,' then it is logical for the deal to go ahead," Morin said.
But Libyan officials have sought to cast it as a state-to-state deal with France, marking Tripoli's return to the international fold. France owns 15 percent of EADS - the largest public stake in the consortium.
The comments by Gaddafi's son appeared to have wrong-footed the French presidency, as Sarkozy prepared to leave on a summer vacation, reportedly in the US lakeside resort of Wolfeboro, New Hampshire.
The Libyan purchases were agreed with subsidiaries of EADS, which is controlled by French and German public and private interests, and of Britain's BAE Systems.
It is the first arms agreement with a European country since the lifting in 2004 of a European embargo on weapons sales to Libya, imposed following the 1988 Lockerbie airline bombing over Scotland.
EADS confirmed Friday that a deal for the Milan anti-tank missiles had been "finalized" between Libya and MBDA, the world's number one maker of guided weapons systems that is jointly owned by EADS, BAE Systems, and the Italian Finmeccanica.
The French-designed Milan missile is a portable medium-range, anti-tank weapon that has been sold to more than 40 countries since the 1970s.
The company said in a statement that the deal had been secured after 18 months of negotiations and was now "waiting the signature of the Libyan client."
The sale of the Tetra communications system was still in the process of being finalized, EADS added. [/B]
According to a Libyan official, the Milan missile deal is worth €168 million and the Tetra system a further €128 million.
http://www.metimes.com/storyview.php?StoryID=20070803-073240-3616r
This is very much like the Clinton response and result. It depends on the meaning of is. In our case it depends on the definition of lie. I do not believe the example cited was a lie. I do not believe it was intended to decieve.
I do believe it is the result of changing business circumstances and as often happens there is confusion. They responded to investor pressure and I appreciate that effort.
The response raises more questions than answers in my mind. I will be looking forward to amplifying statements by the new president.
SharonB
sort of strange time & sales
Rec. Time Action Price Volume
1:19:34 PM Trade 0.0013 10780 =$14.04
10:53:56 AM Trade 0.0014 150000
10:34:54 AM Trade 0.0014 25000
9:54:34 AM Trade 0.0014 5000
9:54:32 AM Trade 0.0014 195000
9:41:28 AM Trade 0.0014 5000
9:41:14 AM Trade 0.0014 50000
total 540,780
Couldn't agree with you more strongly. They do want this to be a success. If what I have been told and if I interpreted it correctly, they are not drawing down funds for large salaries and opersting expenses usually associated with failed companies.
Been on the FTD list for 13 days now.
SharonB
makeamint. At least there has been a lot of lawsuits and fines for those outfits that finance these speculative companies and shorted them in death spiral deals. I had thought our financing was already in place. There I go again, thinking.
Makes this PR even more meaningful to me. I've got some money coming and darn glad it isn't here yet. Best for me to sit on this and wait for developments.
SharonB
osignal2001:The worst mistake I have made is getting too wrapped up in one stock, MXDY. This was a disaster in the making.
Financial reports were made, PRs very positive, and management wasn't drawing a salary. Dilution was minimal, especially for a startup, and they decided to try Cornell to finance growth. They had a RFID product, pilot system for demos, and had sales. The financing never went through, but that should have been a huge red flag. I think it was MXDY that caused the problem, but don't know for certain.
I have since found out the management is under investigation by the US Postal Service on the recommendation of the SEC.
The stock was suspended for 14 days and now trades on the pink sheets once in a great while. (.0001)
A side light was while trying to do DD and verify the prs, it was impossible. Couldn't find confirmation, friends of the company in the countries involved (South Africa/Mexico) were non-committal, and even business associates weren’t helpful.
IMO, it really takes an optimistic gambler to pursue these ventures.
ILCO, so far, has a lot of red flags. It also has green ones.
When I look at the reduction of the OS, self financing of operations, and my personal conversations with Radomir regarding banking, financing operations, and business plans in general, I like what I hear.
This is a pinky, so beware. I like the gamble and support the management so far.
SharonB
Paunch13: Re Ken making a statement like that is nuts, IMO. I do not believe there is a single poster here who believes Ken or anybody can predict the price per share of anything that trades many months ahead of the fact. I doubt there is a single experienced investor who would believe such a statement. In fact, I suspect you may have misunderstood Ken's statement. He is far too experienced to make such a pronouncement. He might have stated it was a goal, an anticipated price, etc. Surly not a cast in cement/stone prognostication.
We all know situations change, experiences change the outcome,
and to make specific promises based on the unknown is folly. This is true in life, so to expect anything different from Innotelco seems unrealistic.
We do deserve an explanation when an expectation is not met.
In this, I find fault with our management. I have pointed this out as best I could. I would suggest others communicate
with management in a polite and respectful manner. They are aware many are disappointed with the lack of information and reporting of the financials.
SharonB
Short interest (total history)
Short Interest for July 2006 7/14/2006
Short Percent Average Daily Days to
Interest Change Share Volume Cover
1,332 100 1,547,878 1
Short Interest for Aug. 2006 8/15/2006
1,332 0 2,256,321 1
Short Interest for Sep. 2006 9/27/2006
25,489 1.812.84 1,316,189 1
Short Interest for Oct. 2006 10/25/2006
1,332 -94.77 2,648,415 1
Short Interest for Nov. 2006 11/28/2006
149,855 11,150.38 1,505,665 1
Short Interest for Dec. 11/28/2006
22,708 -84.85 2,583,626 1
Short Interest for Jan. 1/25/2006
6,332 -72.16 2,531,253 1
Short Percent Average Daily Days to
Interest Change Share Volume Cover
Short Interest for Feb. 2/28/2007
64,702 922 1,751,716 1
Short Percent Average Daily Days to
Interest Change Share Volume Cover
Short Interest for Mar 3/27/2007 As of 3/15/2007 settlement date
56,576 -12.56 1,658,294 1
Short Interest for Apr 4/25/2007 As of 4/13/2007 settlement date
Short Percent Average Daily Days to
Interest Change Share Volume Cover
30,638 -46 738,813 1
Short Interest for May 5/25/2007 As of 5/15/2007 settlement date
Short Percent Average Daily Days to
Interest Change Share Volume Cover
1,332 -95065 152,049 1
Short Interest for Jun 6/25/2007 As of 6/15/2007 settlement date
Short Percent Average Daily Days to
Interest Change Share Volume Cover
1,786 34.08 101,883 1
Short Interest for Jun 7/13/2007 As of 7/25/2007 settlement date
Short Percent Average Daily Days to
Interest Change Share Volume Cover
1,719 -3.75 876,134 1
Lying? I am not aware of any lying put out by Radomir Popovic or the management. Perhaps you have evidence of the fact that a lie has occurred. If so, I would like to see it and refer it to the management for their consideration.
I am referring to intentional mistakes of a factual nature in an effort to mislead. This I do not think has happened.
Here is a definition of lying from Merriam-Webster dictionary.
Main Entry: 3lie
Function: verb
Inflected Form(s): lied; ly•ing /'lI-i[ng]/
Etymology: Middle English, from Old English lEogan; akin to Old High German liogan to lie, Old Church Slavic lugati
intransitive verb
1 : to make an untrue statement with intent to deceive
2 : to create a false or misleading impression
transitive verb : to bring about by telling lies <lied his way out of trouble>
synonyms LIE, PREVARICATE, EQUIVOCATE, PALTER, FIB mean to tell an untruth. LIE is the blunt term, imputing dishonesty <lied about where he had been>. PREVARICATE softens the bluntness of LIE by implying quibbling or confusing the issue <during the hearings the witness did his best to prevaricate>. EQUIVOCATE implies using words having more than one sense so as to seem to say one thing but intend another <equivocated endlessly in an attempt to mislead her inquisitors>. PALTER implies making unreliable statements of fact or intention or insincere promises <a swindler paltering with his investors>. FIB applies to a telling of a trivial untruth <fibbed about the price of the new suit>.
SharonB