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wallstone, deja vue. Croatia, Wilson's White Paper, SPIE Convention, Capitol Demo, Army contract at Yuma, the Christians and the Cambodia Connection, Taiwan. All of them over 2 years old. I remember the extasis on the boards for every one of these events, the praises for Blair and the Boys, the enormous potential of the tech, the "billions" etc.
Good question wallstone. I wonder if the tax issue might push the opening to January 2004.
posinvestor, Market Makers determine the price of a trading stock. For any practical purposes, I believe CDEX will start trading as an IPO, and it will be the company that sets the opening price. Once the trading begins, the principle of supply and demand will take over.
wallstone, perhaps the
reason is that I own the board. And it seems like anything I touch becomes dirty, LOL. I am considering transfering the ownership to someone who might make a good use of it.
On the other hand, I am happy Loch price is rising. I may be wrong, but I believe that the price CDEX might start trading could be the closing price of Loch on June 27, multiplied by 45. So, the higher it goes, the higher the opening price of CDEX. Now, before you all jump on me, this is only my opinion.
wallstone, CDEX cannot issue a safe pill since it has nothing to do with manufacturing pills. But of course you knew that.
Rio, today is 6/8/03, LOL.
Art, don't you think it would be fair that Loch would first sell the millions of Loch shares recovered from the Boys to fund the distribution, and only if necessary, sell CDEX shares to complete any diference? This way more CDEX shares will become available for the distribution. Of course, by selling that amount of shares, the price of Loch may remain at the current levels but then it will allow more shareholders to buy at these prices. Just a thought.
georgesbrennet, 10 weeks make 70 days. And that is the limit the Court sets for receiving the Loch shares certificates. Once that done, the Transfer Agent will initiate the issuing of CDEX certificates to be mailed to each shareholder and brokers. If by then CDEX is still not registered, the brokers will mail individual certificates for each shareholders they have on record.
Final Court Judgment on Display on my site.
Rio, in what ways is the SEC investigation hurting shareholders?
Anyone has an idea of why MP did not make any mention about the registration in his latest CEO letter? Isn't the registration of more concern to us that contracts, at this time?
scarednomore, after I opted out, I wrote one letter to the Judge and had nothing to do with the Settlement. The following letter was written by my son who wanted to have an opportunity to object to the Settlement. You see, I cannot opt out and then object. That was not going to be allowed by the Court. When I opted out, I disclosed to the attorneys my holding in Loch. And when my son filed to object he had to disclose his holdings. Also remember that even as I opted out, I was still entitled to object the Derivative part of the Settlement, which I did not.
Now, how could fighting the Settlement be in my "plan" if it has been approved by the Court? I said long ago that I will not appeal the Judge's decision and convinced my son not to appeal either. So, the Settlement was approved and I can't do and don't want to do anything to interfere or stop it. What else do you all want from me?
scarednomore, my opposition to the Settlement Agreement has been always on basis of serious irregularities in the Derivative Action and the Class Action. Not one of them has ever been refuted by any shareholder. If I am wrong, then why don't we discuss the issues? Why am I receiving so many insults and personal attacks for what no one has been able to contradict? It only tell me that" since we can't kill the message, let's kill the messenger".
If others are willing to overlook so many irregularities and become accomplices of those who have staged the whole show, in exchange for a few shares, so be it. I am not.
But, for the sake of peace and harmony, I dropped my objections to the settlement and opted out. What else do you all want from me? You all got what you wanted and if that makes you all happy, then I am in peace. Why then so much anger and rage against me?
FloridaRocks, all I am asking is for a civil and honest discussion, without any personal attacks or insults. We can disagree in many issues, but we can do it in a respectfull manner. Whenever you are ready for it, let me know. IHUB is open for any discussion related to our investment, but will enforce its policy and Terms of Service. Free speech does not imply freedom to insult and attack any poster on this board.
Rio, there is no contradiction. But you are not saying the truth when you state "The post from the other board has you saying were are a sub-penny stock". That is not what I am saying. You know well that there is nothing in Loch Harris (products, sales, revenues) to sustain its share price. The price is artificially sustained at current levels for an unknown reason, and Market Makers are perfectly capable to do what they are doing. You know well that there are many companies out there that do have products and revenues, and yet they trade at sub-penny levels.
I believe that if Market Makers were short and were trying to sink the price of Loch Harris, they could do it anytime they want: THEY CONTROL THE PRICE. The fact that they are not sinking the price of Loch may indicate that they are not short.
Clinton_Harold, there was a tight bid/ask of .034/.035 most of the day today. Not only Market Makers will not fill any order ourside the spread, but they didn't even fill orders within the spread. And if anyone tries to question them, they can hide behind their posted bid/ask size of 1 (one) share. Unfortunately, there is nothing we can do about it.
Art, I have stated many times that I support totally the distribution of CDEX shares to shareholders. I have also stated that other than the distribution, I am totally against the other provisions of the Settlement. I have realized that, in the event the Settlement is approved as is, if I appeal it will only delay the intended distribution and I don't want that to happen. So I abandoned my intention to appeal.
I opted out because doing by doing so, I retain my option to sue and go against the Boys in the event that they attempt any trick to delay the distribution, as well as preserving my option to prosecute them for the recovery of their ill gotten gains. I don't care how long it will take.
I honestly hope that I am wrong, and that the distribution will be performed without delay. But if it doesn't, I hope to be able to twart any attempt in delaying or refusing to distribute.
I DO NOT trust the Boys, simple as that. And I don't expect them to honor their commitment. I will be ready to act if necessary.
I will use my third post of today to ask you all a question:
If the Judge approves the Settlement Agreement, wouldn't he create a serious and dangerous precedent? Who will stop any other Pink Sheet company to create a private subsidiary, transfer all its assets into it, and then dissolve, after stealing millions and millions of dollars from its shareholders, and walk away free and rich.
I have stated many times that I am in total agreement that shareholders must receive their CDEX shares. But I also stated that the distribution must be performed as it was provided in the Asset purchase Agreement signed in August 2001, that is unconditional.
I have also stated that the Boys must not be allowed to avoid their responsibility before the shareholders. Giving in to their demands is telling them that it is OK to walk away with all the money we invested in the stock. Would it be OK to tell Saddam to go away free with all the billions of dollars and hundreds of thousands of murdered innocent citizens, as long as he leaves the country? I know, we are all in this to make money, but do I have to remember that we are, before investors, human beings. How can we allow inustice to prevail as long as we can put a few dollars in our pockets? And don't come with the well rehearsed line by Art, that the SEC and the DOJ will take care of the Boys. The SEC and the DOJ were not victimized over many years, like we all have been.
And yes, I have stated several times that I can be bought out. But every time any of you mentions that, please be honest and fair and tell also the price I set for it: Justice for all shareholders.
I may be wrong on some issues and right on others, just like any other human being. Is that a crime?
I will respect the wishes of some posters here that I have learned to know and appreciate, and will stop posting. But I will come back and answer any unwaranted personal attacks.
Rio, I would suggest you read again the posts in the last few days, and decide that no one is insulting me. And for the record, I have never, ever received a single penny from no one, and if it takes a law suit to prove it, so be it. And I would appreciate you don't violate the rule that you want the others to follow.
Hey Rio, can I post on this board without being insulted or attacked? If I respect the other posters (which I did and do) will you ask all others to respect me? Can I freely express my opinions and views or do I have to align myself with a speciffic dogma? Can you separate your board administrator duties from your position in Loch Harris?
I would like to publicly tank all those who unconciously have aided in presenting a solid case before the Court. Special thanks to Rio, FloridaRocks, elevatoreddie, Art and INET.
preen2222, excellent research. I hope the others take the time and read it too. Do you mind if I post it on another board? Promise to give you the credit.
eddie, sure you heard that after it was posted on the boards. Rejoice however that the Constitution guarantees and defends your right to voice your opinion even if it sounds stupid.
eddie, it's not an issue of secrecy, but if I don't disclose publicly my holding, no one has the right to do so.
I wish I could say "Ignore me" in Greek, so that you can understand. But noooooooooooo, you are enjoying this.
Nick, you can't deny you are enjoying reading my posts, otherwise you would have put me on ignore long time ago, as the others should have too. But you read them so that you can have a reason to whine and complain, someone to blame for your own mistakes, and gather sympathy about how terribly people treat you while you are such a good, honest and caring person. Why can't you just ignore me?
What happened Rio, you deleted your own messages. Did you TOS yourself?
posinvestor, yes, ask him how will Loch distribute unregistered CDEX shares, in violation of speciffic SEC regulations.
Can you read English?
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In Reply To 'riorancho' on 'Loch Harris'
You have written 1 posts today and have 2 posts remaining.
Compose your reply here:
(The first eight words you type will automatically become the subject of the post)
Oh, shuts, I used my second post.
posinvestor, I am sorry. This is not a discussion board since we are limited to only three posts a day and I cannot post my views and at the same time defend myself from false accusations. But if you really want to know what my position is, you are welcome to read my posts on the Loch Long board on Raging Bull. And if you wish to discuss the issues, I invite you to either the Loch Support Group Board or CDEX Board on RB. They are both private boards and quite quiet. I extend the invitation to any other poster here that is willing to discuss in a civil manner our situation.
posinvestor, if you read the Plan of Distribution, you will see the following:
Loch Harris will initiate the recollection of information about ownership of Loch shares about two weeks after the Effective Date that may or may not be May 30. All information will be handled by the Transfer Agent and the estimated time for the task is 60 days. Once the transfer Agent has all the information, it starts the process of determination of who is entitled to how many shares of CDEX, then the filling of stock Certificates for individual shareholders and for the brokerage houses, then the mailing out of those certificates. This process may take an estimated 30 days. Once the brokerage houses receive the certificates, they proceed to assign the proper number of shares to each account of Loch shareholders. I would estimate another two weeks for this.
So, if we add two weeks plus two months (60 days) plus one month (30 days) plus two more weeks, we could expect to have CDEX shares in our accounts within 4 months. If you add 4 months to May 30, you will see that our accounts will show CDEX shares by the beginning of October 2003.
Remember, all this in the best case scenario, with no delays, no problems in the way, and considering May 30 as the Effective Date.
Now, CDEX is planning to file the registration application in the first days of July, at it's 2 years anniversary. Based on the previous filing experience of last year, it is estimated that it may receive the approval by the end of July or beginning of August. It ie reasonable to believe that MP has already made contact with Market Makers to trade CDEX securities. This may place CDEX on the market within the first 2 weeks of August. Therefore, CDEX will start trading in August 2003, and we will not get our shares before October 2003.
I believe that if CDEX has any viable cotracts, they will be announced a few days before starting to trade, giving a strong push to the price per share for the initial days of trading. Of course, the Boys, the attorneys, the plaintiffs, the Private Placement investors and the CDEX insiders will be ready to trade their shares without having to be overwhelmed by a couple of thousand Loch shareholders that may be willing to bail out as soon as possible.
Do you think all this is coincidental? I don't think so. We are still dealing with the Boys and Co.
As a note, I must also remind you that the Boys have expressed their intention to dissolve Loch Harris as soon as the Settlement is approved. Accosring to the Nevada State laws and regulation, a company can legally take up to 2 years to dissolve. Since there is no time frame of distribution of CDEX shares in the Settlement, Loch can LEGALLY take up to 2 years to perform the distribution, and the Court can do nothing about it, since a time frame is not provided in the Settlement.
It is my strong opinion that we will not have our CDEX shares in our accounts by the time CDEX starts trading. Therefore, the Settlement is not working to the benefit of Loch shareholders.
Do we have a choice? Yes. If the Settlement is not approved, shareholders can retake the Derivative and the Class actions and claim the demand within them of celebrating a shareholders meeting with the purpose of voting a new slate of directors in Loch Harris. The new directors will then immediately proceed to perform the distribution and use any means necessary to delay the initiation of trading of CDEX until we all have our shares in our accounts. At the same time, the new BOD will initiate legal action as a corporation against the Boys to recover as much as possible of the ill gotten gains that they have robbed us over many years. Whether Loch Harris will continue in business or close down will be a decision made by shareholders. Any and all recovered assets will then belong to all shareholders, and if Loch will be dissolved, then the assets will be distributed to shareholders. But I have a hunch that once management is cleaned, Loch Harris may become a viable trading company with potential.
All this is the way I see our situation at the moment. Yopu may all agree or disagree, but read again my post before starting to calling me names.
And here is the answer:
I don't want anything done my way, I want it done the right way.
I am not seeking revenge, I am seeking recovery.
The solution that has been worked out is full of omissions. If the Court rejects the Settlement it will be not my fault but the ones that have so poorly presented their case.
The Settlement provides for clear and detailed provisions to benefit the Boys, the attorneys and the plaintiffs. The Settlement provides vague and uncertain provisions to benefit shareholders.
You are placing the fate of your investment in the hands of those who for many years have proven themselves to only act on issues that benefit them, not shareholders.
You have a good chance to take the fate of your investment into your hands, but refuse to do so.
You blame me for pointing out the imminent disaster in our investment and refuse to blame those who are placing your investment in jeopardy.
If there were a single positive point in the Settlement I would be the first one to acknowledge it. But I cannot see anything in there that will save our investment or will benefit us in any way. (If I am wrong, show me where)
I have started becoming active about 6 months ago, when the so called "basher" were still seeing me like a crazy, stupid dreamer. They have not influenced my actions and I will not allow anyone to dictate me what to do.
Anyone who refuse to see the fallacy in this whole deal exercises his or her right to do so. That is my opinion and I have a right to it the same way all of you call me all kinds of names. I have not personally attacked anyone that disagree with me. Can't say the same about you and the others.
There is nothing I can do to influence the Judge to decide on the Settlement, one way or the other. I don't have any power over him. The facts, the truth and the law will decide the outcome, not me or you.
And yes, that is the Christian thing to do. I was never taught to compromise the truth for personal gains, and I will not start doing so now.
All - Read my letters to the Court and then judge by yourselves on who's side I am:
http://www.lmorovan.com/Letters/letters_and_such.htm
Rio, if your family depends on Loch or CDEX future, I am very sorry for you and for them.
posinvestor, if we let the Boys get away with the Settlement Agreement, we lose all and every chance to recover their ill gotten gains that they have robbed us over many years.
I am a shareholder of Loch Harris and want my CDEX shares as much as anyone else. But I see very little if any chance of getting our shares through the Settlement Agreement. It is a document written by the Boys, with the only purpose of letting them get off the hook and cash in their CDEX shares before anyone of us can do so. And the Lawyers of both sides are their accomplices who sold us for CDEX shares and for the assurance the Boys gave them that they will also cash in before we do.
This is what I believe based on the facts contained in the Derivative Action, the Class Action, the Settlement Agreement and the past track record of the Boys. There is absolutely no assurance or guarantee that we will receive our shares by the time CDEX starts trading.
Rio, how can you be so blind and not see that the Settlement Agreement is precisely the tool used by the Boys and MP to prevent Loch shareholders to be able to trade their CDEX shares at the time CDEX starts trading? The Boys will NOT distribute the shares before they have a chance to trade their own. And so will be with the PP investors, the attorneys and all CDEX insiders. They will trade first and reap some huge profits. After that, when the price gets down, they don't care if Loch shareholders get in.
Of course, all this IF CDEX ever gets registered and trading. And even more important, IF CDEX really has anything marketable.
Open your eyes my friend and see reality.
Hey Rio, you got all your dates screwed up. I started my opposition to the Derivative Action and later the Class Action long before any Settlement was reached. So, don't blame anyone for what I do or say. You better than anyone else know that even the "bashers" were ridiculing me when I started to question the motives of Kamber and later, Cantor. I told you and all the others that I work alone and don't line myself with anyone.
You seem to have made a career in backstabbing anyone that don't agree with your position. Your real motives should be investigated, who you work for and what's in it for you.