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Which would explain why Lindy owns no shares in TDEY. He wants nothing in his name since all would be subject to attachment by creditors.
All great questions.
My additional question is whether FINRA keeps track of "bad actors" who deserve extra scrutiny when future requests are made.
Has Kent sullied himself for life by trying to do the shuck and jive on the name/ticker change?
Kent's nebulous FB postings hint that he soon will be abandoning the TDEY shell and moving on to some other entity that won't have FINRA issues.
Kent has said that he would never do anything to hurt TDEY shareholders but his plans for the future would likely do exactly that.
So Kent has wizened up and will take his ORT LLC to some other venue leaving TDEY shareholders with the stuffed duck and the second hand furniture.
Who could have predicted that?
Eddie Vakser. The guy pulling Lindy's strings.
Sheesh
Eddie Who?
All part of the Eddie playbook. Look at Eddie's other scam (SUTI) and you will find just slight variations on the same bullet points including promise of O/S reduction (while the O/S actually skyrocketed), "spin-off" of debt into some magical debt absorbing entity (my favorite), a new brilliant CEO with business contacts (who knew Eddie was a scammer from jump street but somehow thought that Eddie wasn't going to scam him), business acquisitions worth millions in annual revenue (never happened).
The story is the same, just some minor change in the details.
So THAT's what that smell is. I've been checking the office to see if someone left an old tuna sandwich in a desk drawer.
Turns out it was TDEY all along.
Why would it matter anyway?
Kent has never explained the nature of the relationship between all of these glorious business deals in the name of ORT and the public company TDEY. Kent can tout his huge revenues all he wants. Lacking any evidence to the contrary this has ZERO to do with TDEY.
It may just be that Kent is done playing Vakser's front man and he will go back to running his private LLC.
How exactly would Eddie be doing that? Would he go to FINRA's headquarters and hand out free Kinkaid 3D art prints to all employees and convey upon Kevin and his boss some primo box seats for this year's Women's Football League championship game?
And prior valuation calculations have taken the supposed $ 2.5 million sale of the software and extrapolated that to mean $ 10 million of revenue per year. As if you can sell the sale asset repeatedly quarter after quarter.
As "real" as the first sale was, I suppose that software can be sold multiple times.
Oh, and add $ 4 of monthly revenue for every AFLAC policy holder.
Just jokey numbers.
That PR was written by Eddie:
"As the CEO of Employee Benefit Recourses, LLC and the President of the Dennis Companies, EJ Dennis has provided..."
Recourses???
"They have two Children, Jason and Natalie, and two Grandchildren."
Random word capitalization.
Mr. Dennis is a menace.
Indeed.
Tip to Kent and his staff of accountants: The beginning balances for the 4th quarter are supposed to match the ending balances for the 3rd quarter. I know it will be tough to figure out how to do that, but it really is kinda important if you want to look even semi-legit.
Of course they won't be audited.
And the bigger question is when a financial statement is posted for ORT LLC (as amusing as they will be) what in heavens name will they have to do with TDEY?
I like the theory that the "WALK DOWN" is FINRA KEVIN getting his REVENGE on TDEY because Kent got the FINRA boss involved.
Let it go, Kevin. Life is too short.
Maybe Kent's Congressman did a little DD on Kent and had his staff advise old Lindy that the US Congress isn't in the business of advancing scams.
Well, not this kind of scam.
BUT BUT BUT Kent said he wouldn't do anything to hurt the TDEY shareholders.
Is Kent going back on his promise?
Lindy's Rolodex still shows his Congressman is Jack Brooks. Lindy's been reaching out to Jack by phone and telegraph for weeks.
Little does Lindy realize that Jack Brooks left Congress in 1995. Oh, and he died in 2012.
If Kent would email things to FINRA instead of sending them via FedEx then this entire matter COULD bypass Kevin.
But Kent doesn't email. He sends binders via FedEx.
Kent saw to it that Kevin was busted down to the FINRA mail room.
Unfortunately that means that Kevin's LESS competent and incredibly disgruntled co-worker Susan now has the TDEY file.
That can't good for anyone.
Kent doesn't get involved in petty details like company names, financial statements, share structures.
Kent is an idea man. A big thinker. A Thomas Edison of insurance, if you will.
I hope the new site comes so we can see what Kent says ORT is (and what it isn't).
LLC?
INC?
INCORPORATION?
SEIZED BY THE IRS?
Since the merger / takeover / whatever with TDEY has never been memorialized for anyone to see it would be easy peasy for Kent to say that Eddie never lived up to his end of the deal and ORT LLC will once again (or still) be 100% Kent and Linda's to tap as they see fit.
After the IRS takes its share, I mean.
In a heartbeat. Does the SEC have criminal prosecution powers or do they leave that sort of stuff to the US Attorney?
We know that Kent's home is held in a trust -- likely to avoid creditors. Doubtful that strategy would work against the IRS.
The TDEY financials would suggest that Kent doesn't seek professional advice so maybe he thinks he can fend off the IRS on his own. Oh, with help from his Congressman, I mean.
Indeed, while most government law enforcement agencies operate with the need that they PROVE you did something WRONG, the IRS in many instances can start with an accusation (EG: you didn't declare all your income) and then the target is forced to PROVE their INNOCENCE.
Makes it much easier for them to come down hard on someone who is otherwise able to skate.
I see. Stuff takes a lot of attention.
Just ask the AFLAC duck
Other than hit the lunch buffet, what else is on Kent's to-do list?
The "open house" photos showed some tacky second hand furniture and a stuffed AFLAC duck.
Where those repo'd?
Kent's latest Facebook post gives some indication that he intends to abandon the TDEY shell. I'm sure that he'll treat existing shareholders mighty fine. Perhaps some sort of dividend in his new shell. LOL.
Maybe Lindy is paying back Eddie for the big bankruptcy bail out by using ORT to funnel money back to the Vakser clan???
The IRS loves that kind of stuff.
That's probably true. Eddie is smart enough to put 0 in every revenue column and just accrue all expenses. Then the cash balance can stay at (wasn't it around $ 18 at SUTI??) the same level every quarter. Makes it easier to produce financials that are, at the very least, consistent.
Old Lindy felt the need to do things in a big Texas way by throwing in some phony revenue numbers. He didn't consult his hot shot accountants who most certainly would have told him that the numbers don't add up.
Keep it simple next time, Lindy. The truth shall set you free.
Very nice finds as always, KAM.
So who will come out on top of this deal: Linduff or Santos? Or are they scheming together to steal from shareholders?
Claiming that a business is real just because it appears in some on-line yellow pages is like claiming a business is real because it has a card in Lindy's old fashioned ROLODEX.
That CIAO web site is a classic scam. Fake "store photos," company logos of supposed customers and no contact information other than a form (no phone, no address).
Kent knows how to pick his partners. Birds of a feather.
What paperwork would that be?
The lawsuit against Mr. and Mrs. Lindy seeking return of the $ 100K in funds that were to be held separately that Lindy then refused to return or the criminal proceedings against Lindy's partner Eddie wherein the State of Texas was going to throw Eddie in jail for stealing?
Search the board and you can find all the documentation you wish to see.
Lindy eventually gave the money back after a lawsuit was filed.
Just like Eddie paid back the guy he stole from as the criminal proceedings neared.
Birds of a feather.
Let's hope that the merger partner doesn't give Kent any "good faith money" to hold in escrow.
Because we know what happened the last time...
"FINRA continues........but that will be a moot point soon anyway" is the key phrase.
This is right out of the old Eddie playbook.
When the DTC put a FREEZE on Eddie's PRPM Vakser's solution was to acquire another ticker (SUTI) with a promise to make PRPM shareholders "whole" by giving them a "dividend" consisting of shares in SUTI.
Of course the dividend shares never materialized and SUTI shares went down the dumper anyway but it looks like Kent (and Eddie) are looking to move the TDEY assets (such they are) into some new trading vehicle in order to sidestep FINRA.
Just classic stuff.
Go back further and see what ARTS shareholders were promised. Dividend shares in PRPM perhaps? Never happened, of course.