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How do you think those greasy palms in congress got greased in the first place to drop the glass-steagal act?
For what you're referring to http://en.wikipedia.org/wiki/Glass%E2%80%93Steagall_Act
Do you really think these banks that brought all this $#!^ on had nothing to do with it's downfall or knew nothing about it to begin with? The banks are the only ones that are gaining out of it!!! They're borrowing (from the FED) at .4% and lending it out at 15+%. How do you see it any different?
I myself would like to know what the assets the FED holds for the amount of money it's paid JPM (gained through either Wamu OR BS OR itself). Let's see the real numbers come to the table as last I knew JPM's "better" loans were no better than Wamu's..
And the exact reason our banks/citizens should be able to look to those in "the banking biz" for leadership rather than for those with masters/bachelors in economics to find another way to screw us over.
Those guys selling those convertible debentures.. Do you think the meeting went like this "you do realize this could cost you ALOT more than it currently does don't you?"
Yeh... I got in at 1.11 and out at 1.05 with small loss :(
Not looking good
Thanks... I look for the day the SEC actually puts their big boy pants on and does something about these CEO's in the pink markets
Basically what they're saying is "don't invest, you could and probably will lose your money" instead of fixing the issue.
That's like me saying "Don't walk through the bad part of town at night, you'll probably get robbed" so does that make the robberies legal?
I know the question wasn't directed at me but will try to answer you here..
As far as in this stock... It could have been great had the CEO tried as there was at one time real assets. The CEO knew shareholders would lose from the beginning with the hidden debt to ex-Ceo's wife payable at .001 while the stock was trading .05-.07? They tried to say they didn't know the debt was there??
yes, they say it was missed, but if TS is that much of a moron to not have anyone with a legal or accounting background look at the documents/debt then the guy has no business running a Public Company anyway! This isn't the first time he's "acquired" something and found a boatload of debt or taxes not paid past 2-3 years, etc. Look at every one of his companies.
Hacketts - He was supposed to pay the Hackett family $4.5 million, but only paid the $1.5 down & quit paying because he stated the company wasn't bringing in the profit he was led to believe it was (anything to do with him taking over?). He also came out in their lawsuit and stated they "lied" to him about how much revenue Hacketts had coming in. (Ever hear of having an accountant look over their taxes?)
Wisebuys - Bought it using shareholder $$$ from himself and his sister. Wisebuys was purchased for $6.4 million with a real value of NEGATIVE $1.6 million. (nice of him to over pay for his own POS company that failed - Hacketts alone may have done quite well had Hacketts not be subidizing Wisebuys losses)
JRecks - TS bought some of these with NHSP shell for $5.25 million or so - do not remember the price. Couple 10Q's later we find we own 0 JRecks franchises as they were given back for "assumption of undisclosed debt" along with other undisclosed items.
Alteri's - TS bought as part of NHSP from Chris Shwartz - owner of JRecks. Come to find out, Chris had created cross agreement to where JRecks didn't have to buy from Alteri's anymore prior to selling - Of course TS probably didn't read any of the agreements as they made the deal after meeting at a football game.
Sacketts Harbor Brew Pub - According to Tom's wife, Tom & his wife are owners of this bar. Of course everything in SEVA is so intertwined and has been moved around so much no one knows what assets are where and/or what is left. Do shareholders own anything or are shareholders just a piggy bank for the CEO?
I know there were a lot of things that just "disappeared" such as Seaway Valley Realty Holdings. Last I knew in 2010 there were between $4-5 million in real estate holdings. Since SEVA went non-filing there is no way to know if any of the BS here is true and/or where it went. I really believe the SEC needs to investigate here to see what shareholders went through. To go from an Filing OTCBB stock with potential to a bk pk company within a couple years and of course all these assets being moved/hidden & CEO using BS tactics to sell shares such as "Seaway Valley Capital cancalling shares when Seaway Valley Capital was a newly created company within the parent Seaway Valley Capital Corp and it was owned by Tom's wife - no assets, no debt, just cancelled shares and PR'd it to sucker everyone to buying SEVA shares" He also did this to one of his other stocks so beware of the BS.
I'd love to see the SEC take guys like this just ripping off shareholders for their hard earned cash. Everyone says "It's OTC or PINK, it's your fault". Well, NO IT'S NOT. NO one should be allowed a license to steal - pink or not!
Now he's thinking "Why didn't I ever have an attorney look over the details of my many many worthless purchases" hahaha
They aren't looking for small fish... no headlines! They're going after the big guys
I'd say it's gonna take a little more losses here before SEC even looks into it!
Excellent news... Expected by end of Sept 2 month class 1 resubmission (which should get approved)
A high of $3.86 after hours today so I'd expect this to keep going UP UP UP tomorrow!
Wow, is it really 90k invested here couple years ago would have now turned into .0002 ??
All ABOARD - next stop $5
All pre-existing holders were raped by not only the CRL here, but also the economic mess which took all stocks down, this one just dropped that much further due to the CRL right beforehand and was on a downward spiral.
We whould climb fairly quickly to $5 once the company gives some direction on the CRL and resubmission plans. The recent 8k shows interest because it gives the BOD shares if Intermezzo is approved by the FDA, so apparently the BOD thinks it can/will still be approved and worth pursuing. Hold tight on your shares and good luck to us all!
New 8k filing - I like it... Gives incentive for them to WORK to get Intermezzo approved!
http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=7791800
On August 24, 2011, the Compensation Committee of Transcept Pharmaceuticals, Inc. (the “Company”), having already considered input from the Company’s independent compensation consultants and the Board of Directors, approved a 2011 Special Incentive Option Grant designed to retain and incentivize Company personnel after receipt of the July 14, 2011 Intermezzo® Complete Response Letter from the U.S. Food and Drug Administration. The following table details the 2011 Special Incentive Option Grants made to the executive officers of the Company that were named in the Summary Compensation Table of the Company’s 2011 Proxy Statement:
Executive Officer
Number
of Options(1)
Glenn A. Oclassen
President and Chief Executive Officer
155,000
Thomas P. Soloway
Senior Vice President, Operations and Chief Financial Officer
77,500
Nikhilesh N. Singh, Ph.D.
Senior Vice President, Chief Scientific Officer
77,500
Joseph T. Kennedy
Vice President, General Counsel
77,500
(1) 2011 Special Incentive Options Grants were granted under the Company’s 2006 Incentive Award Plan, on August 24, 2011 at an exercise price of $2.68 per share, the closing price of the Company’s Common Stock as reported on the NASDAQ Global Market at the close of business on August 24, 2011. Fifty percent of the 2011 Special Incentive Option Grants vest upon approval by the U.S. Food and Drug Administration (“FDA”) of Intermezzo® and the remaining 50% vest on the first anniversary of any such approval; provided, in each case, such FDA approval occurs no later than August 24, 2013. These options automatically expire should the Board of Directors decide to cease development of Intermezzo® or if Intermezzo® approval is not received on or prior to August 24, 2013.
Wonder how many billions JPM made by erronously breaking the law here.. Payment of $88 million, I'm sure they made alot more than that!
IMO it's just no one is stupid enough to waste their money buying it!
Very nice... Now all we need is to be able to send that iron ore to China. Anyways, glad I bought yesterday when I had the chance at .18!
IMO it could be for a number of things
1). Could be for an acquisition
2). Could be for dilution (although I don't see why they wouldn't just dilute the other 55 million shares first)
3). Could be to lower the pps of stock so insiders can load up
I see this to be number one or three... while having over 60% of your AS available, you wouldn't kill the pps by raising AS for dilution! You would dilute until you hit your AS, then either RS or raise the AS as right now everyone believes the highest it can go without further changes is 75 mil!
Insider buys
http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=7761886
CEO just bought 30k shares at $2.82
Added today as well so I could average down a little. Still have a high average ($4.11) so I may try to grab more on dips
Hard to believe $4.7/share in cash and the market kills a stock like this.
I haven't bought back in yet, too early for me to know if the market turning around
Love how his wife (Pearl Ashcroft) is defending his honor in the comments section. Anyone know who owns those businesses? Did SEVA/HBWO/EMPZ sell the businesses to Tom & his wife or did we all just pay for shares so they could own the property?
Ah! I wonder how he liked the lockup? Anyone able to get a hold of the mugshot? Something like that needs to be placed on iHub
You aren't the only one adding... Look at the VOLUME and the size of buys! WOW
Couple weeks ago we were trading at what, .63? Because shares are trading at .82 you state dilution? LOL
I like how you put everything in caps so the IMO doesn't stand out there... You call it dilution, I call it consolidation. Let some of those guys out with their profit, once they're gone we go UP again and even higher than last time! I see a hard bounce off the 50SMA and never looking back as it already looks oversold to me!
I show no bid & 309,605,500 on the ask (schwab) so not sure what the correct number is but I'd bet mine is closer :)
What a great stock, need half a billion bought before this thing can even hit bid...
40k shares ($48,400 trade) a little bit ago at $1.21 so somebody believes! WOOT WOOT
We break & close above $1.24 next stop $1.36 :)
Alot of shares being bid at .90, so glad we're in a downtrend as those guys say! $1 be back real real soon
Not sure about that one.. I think it's going to make a turn around here. Guess this is my opinion looking at the charts, but if it hits $1 then I will be doubling my share count!
And what did he tell you when you called? "Thanks for the cash"?
You mean Maury isn't a PIZZA CHEF anymore, now he's a full fledged CEO? Be prepared for a new PR here about how they opened "THE VAULT" and business is great (never know, it may sell a few more shares and let some get out at .0001) or they may wait until after they reverse split the stock to do any PR's.
So what does Maury say when you give him a call Penny?
More than $4.70/share in cash held by the co... This one should recover quite nicely once these sellers are out
Ouch... Bloody RED day
LOL... if they hadn't printed any shares would this be in the TOILET?
I believe the offering was at $1.36 so at the moment the stock is definitely undervalued. There should be 0 of those shares sold until at minimum of that price. What we have now are scared investors and shorters creating fear due to the offering. Once everything is complete we should see a steady rise.
It's never going to be Maury & Tom's last chance. There will always be some SUCKER down 50% on his investment, hoping he can get out and start pumping like crazy so ole maury & tom will continue to be able to sell shares! Sound familiar to you? Besides, what's the difference if they reverse in 2011 or keep it no bid until 2012 and reverse then? They still pumped about cancelling shares while diluting the hell out of it.
Huge merger news isn't going to happen to a stock as pathetic as this one. How many reverse splits has it already been through? What kind of legacy does the shell carry? As far as posting profits... make me laugh my @ss off why dont ya? The company is only there to give money to current and ex-ceo and they've already gotten there's, how about you? This stock will be slowly fading away.
Pat yourself on the back for bringing quite a few more sharelosers in to the company. urprised tom hasn't already sent you a check for your fine work when you stood your ground when those f us in the know were well aware a big time theft from shareholders was happening. People pumping at crap stock for their own personal greed is what keeps theiving bastards in business. Until every shareholder says "I've already lost mine, no reason for others to fall into same trap" and tell the truth about these scammers they will continue selling as long as they can!
Don't you love it? The scammer got scammed.
NOT SO NICE IS IT TOM? HAHAH... Hope you lose your shirt like the ones you took off our backs!
LOL... Not even sure the Federal Reserve could buy up all those shares, even at the speed their presses are printing
Nice movement today, hopefully whoever was selling is long GONE and we get upward movement!
They're sitting on $5/share in cash and also have another drug in pipeline so why not wait it out if you're down? I bought back in this am at $5.05 pre-market after I sold out other day since I didn't like the way it was trading pre-approval.
Stating some BIG FISH had info couple days ago and shorted the hell out of the stock knowing full well that TSPT would be given CRL.
They were upgraded like crazy, everyone believed it would be approved. At the same time the stock a couple days ago was getting hammered with sells and dropping in pps? Now when these things get "upgrades" and "buy recommendations" and "price targets of 3 x's current value" there usually isn't a big selloff unless SOMEONE has inside information!
All I'm saying... Those with the big bucks can spend a few to make a lot!