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And his CEOs have been known to post under a variety of iHub profiles -- usually pretending to be someone who has no affiliation with the Company.
But since Kent said he doesn't even know what iHub is (the Rolodex on his desk would be consistent with his discomfort with technology) then it's doubtful that Kent is up to such shenanigans.
I don't want to speak for TenKay but something tells me that it's highly unlikely that he is a shareholder here. Props to you, TK!
That just means Kent listens to his shareholders
It also takes away time from their ability to close all sorts of new insurance deals. Maybe deals that will actually generate operating revenue. BTW, any idea what the only non-licensing revenue was for the 9 months? It shows as "PEPM" $ 1534. I'm not an insurance guy so maybe this is some sort of industry acronym??
But the fact they seem to be playing catchup to an Internet message board poster should be a clue about their competency
Yes, time machine would be one of the explanations.
Let's see what the company decides is the explanation that they will put forth.
It will be interesting.
And Oak River employees are working without salaries based on the lack of any expenses for salaries and wages.
I go back to my previous "explanation" that perhaps Kent owns the intellectual property on which ORT is based and he may be the employer of record for those working in the office. Thus, the "management fee."
Sort of allows Kent to demand anything he wants whenever he wants lest he decide to take his toys and leave the office void except for the flea market furniture we saw in the open house photos.
He can bring his IP wherever he likes whenever he likes. Maybe to a cleaner shell company without so many "hangers on."
I saw that. It's curious that (if we believe the "new" income statement) the Company pays no salaries or benefits.
Apparently those we saw in the open house photos were actors/actresses hired for the day.
This really is an interesting development.
You are assuming that they can sell the same asset that now belongs to someone else for the same amount in each of the next three quarters. I wonder how the buyer of that software feels about that.
That's an Eddie kind of transaction. Not something Linduff would do.
Or is it?
The office buildout now costs $ 200K or so less than before and the Company pays no salaries. Just management fees.
The IRS and other entities might be interested in that.
Revenue is a joke. It's a one time event...licensing of the software. Earlier reported to be 2.4 million now reported to be 1.3 million of which 1 million is still unpaid. OK.
Anyone who reads this as being sustainable quarterly revenue has no clue. They can't sell the software again in the 4th quarter and again in the 1st quarter of 2016. It's gone. Like a liquidation sale. Nothing left to sell except the tacky furnishings.
There is ZERO operating revenue.
Meanwhile the monthly expenses will go on regardless of the lack of revenue
This is a freight train about to crash into bankruptcy.
But they lied! Why would they lie? I liquidated my 401k and bought shares based on what they said. Who can I complain to?
One poor soul on the TD&Y board said he was counting on profits made there to pay for his cancer treatment.
Oy.
I'm loving the "Oracle of the OTC" moniker.
Remember how someone claimed that DMND was renting office space inside an office building that was owned by UPS?
Oh, the humanity.
I see that the "other Diamond" that some were confused about is looking to sell itself for over $ 1 billion. Too bad that is indeed "other."
Saw your PM. I can't reply. Fins will be replaced with new ones that don't look quite so ridiculous. Still not clear what entity they are for, but maybe the balance sheet will balance. Look for the video!
People in real businesses.
Who uses pc's anymore?
I'm no interior decorator but most of the furniture in that video looked like something picked up at a thrift store. Dining room table and chairs instead of conference room furniture? Maybe Kent really is looking out for his shareholders.
Looks like the staging crew did a nice job on everything else though.
Big 3D Eye Roll.
Fixed it for you
This would be one of the only scenarios that makes sense.
Kent owns the IP. Without the IP ORT is essentially some walls, wires and furniture. Oh, and some contracts that they can't fulfill.
Kent takes 98% of ORT revenues in return for a license to use his IP.
Brilliant.
http://esearch.kendallad.org/
Search on KENT LINDUFF and you see what I presume is his personal residence. Owned by a family trust, BTW with Kent and Linduff as trustees. I know that property can be held in a trust for a variety of reasons: shielding from creditors is one of those reasons.
Nothing under OAK RIDGE in Kendall County.
Questions about the financials again. You want a balance sheet that balances? Go see Askmyaccountant.com
And if it does show that Kent is the property owner does that mean that it is an Oak River Technology asset?
BTW, shouldn't something like a deed be locked away in a safety deposit box? Having such a document at an open house seems a bit reckless.
Putting aside the pesky question of the relationship between ORT and TDEY it is entirely possible that Kent owns the building and is leasing it to ORT. One would think that this sort of transaction would be disclosed but if accuracy of that recent filing is any indication, then attention is to detail is not a Kent forte.
In fact, personal ownership of a building with the company leasing it back is not unusual in private industry. The goal is to reduce the Company's taxable income (and pick the pockets of partners and/or shareholders as appropriate) by paying large rents to insiders, paying big salaries and providing perks like Kent's Mercedes: all complements of his shareholders.
Maybe send out a tweet to Michael J Fox for an answer???
Per a prior theory, the takeover of TDEY was accomplished following the script of a Michael J Fox film about how "business is done in the real world."
There were weenies in buns along with Pabst Blue Ribbon served at last week's gathering so none of what you say has any possibility of being remotely true
Based on Eddie's criminal case from earlier this year it would seem that Eddie doesn't like to pay up until faced with some serious consequences. I don't know if the Texas Tollway (a private entity) has the authority to suspend car registrations the way public entities do.
We do know that legal proceedings indicate that Eddie and Kent don't like to pay their bills/refund money.
This gives them something in common. Besides this scam, of course.
You are confused. Eddie and Looter were giving away shareholder money with the pot donations. Countless children were helped, no doubt, before Looter "went away."
Kent and Linda have apparently given away their own millions to the benefit of TDEY shareholders.
Totally different kind of generosity.
BTW, did "nice guy Eddie" ever pay his delinquent tolls?
I'm sure you are correct. And if not this week then the week after that
But if the reports are true...some additional details will be forthcoming this week.
And the super duper curious part is that Kent owned a software product that was purported to be worth north of $ 2 million. He could have sold that asset to his Chimenti (sp?) buddies but instead he waited until TDEY "acquired" ORT before selling. Thus TDEY shareholders were provided with immediate enrichment: money from the heavens. Since Kent's disclosure indicated that he and Linda own 0 shares (and have no beneficial interest in shares) of TDEY then it would appear that Mother Teresa lives on in the name of Kent Linduff.
So what did Kent and associates get in return for ORT? That is where the big hole it...nobody can say.
As you pointed out, asking such questions wouldn't necessarily result in an accurate answer. And wouldn't this pesky ownership question require disclosure to all shareholders by means of a filing?
So the "question" of TDEY's ownership of ORT would not have come up?
And the follow up question: Why would he do all that and then give away his company to total strangers?
Answer: Eddie dug Kent out of a financial hole and, in return, Kent agreed to allow his company to be "acquired." Eddie assured Kent up front that the acquisition was going to fall through so no loss of ownership or control, but part of the deal is that Kent was told to keep his mouth shut and play along with the farce.
Everyone is playing this out perfectly except for the filings which could be the downfall of both Eddie and Kent.
Stay tuned!
"Man, these pretzels are making me thirsty."
What was said at this OPEN HOUSE?
Years ago I worked on a project for an "organization" that, after just a few hours in their office, I could tell was not entirely (or even slightly) above board. The President of the organization (there's what word again) had a very loyal staff that worked there for many years. Employees were paid extremely well. In return employees were expected to a) do what they were told and b) keep their mouths shut.
Sometime after my gig was over the Feds raided the organization's offices (very nicely furnished place, by the way). The top dogs served prison time while most of the underlings weren't even charged.
Such may be the case with TDEY. After this all unravels, long time employees will be unemployed but will otherwise get off with a slap on the wrist -- I suppose anyone who "knows anything" may be called to testify.
Tenkay, your recent post number ends with "666". Were you trying to send us some sort of trading signal
They have nothing of the sort if you want to put even the slightest amount of credence into that wonky balance sheet that was filed.
It showed some strange entry that likely represents a $ 1 million note from their "buyer." There is NO indication that a dime flowed from buyer to seller.
Don't forget Oak River has $2.3 million from this sell
GEICO owned by Berkshire Hathaway..."A Series" shares trading at almost $ 205,000 per share. Multiply that PPS times TDEY's billions of O/S and...wait...my calculator starting smoking.
Nonsense math. SMH.
I've hired licensed plumbers and licensed electricians for build outs. Lots of plumbing fixtures, electrical outlets, add up quickly. They may even have a nice kitchen with granite counters, stainless steel appliances, etc. They don't seem to sharp on accounting issues so they could have lumped the cost of a 10-year leasehold improvement in with the same figure as a fridge that's going to last half that long.
The amount WOULD be out of line for the construction of a building. We know that ORTC does not own the office space that they LEASE. The wonky financials say specifically that they have a 10 year LEASE. That's one small piece of the financials (and maybe the part where it shows that the Linduffs own ZERO shares of TDEY) that has some credibility.
Yes, same guy.
Will I give up questioning whether ORTC and TDEY are one and the same? Yes, I will. Although on prior Eddie deals there were numerous acquisitions and mergers that seemed to fall apart at every stage of those arrangements.
You should indeed bring that up to anyone who says that ORTC owns the building. They don't.
And none of this appears to have anything to do with TDEY.