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That would be fun. There are probably others in this area as well. Maybe a group lunch would be in order. What do you think?
bank
I know, right? Have a good weekend.
bank
From Dr. John Bridges' Defence of the Government of the Church of England, 1587:
If they pay a penie or two pence more for the reddinesse of them..let them looke to that, a foole and his money is soone parted.
hmmm.
bank
Chances are way better than 50/50, IMO, that this is the case. I think the newly announced teaming relationships prove this out. Also, the more I think about management's decision concerning their share changes, I really believe that they are telling us, without telling us, that they are honestly in it to win it for more than themselves. This is the most thrilled I've been about our chances since I got on board. God, I probably won't sleep this weekend.
bank
Correction, I've driven that route that many times, doubt if the building has been up for 15 years, but, you get the point. Have a great weekend all.
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I've driven by the EWA building on route 28 just south of Dulles airport approximately 7500 times in the last 15 years. Today was the first time I drove by it with an exaggerated smile.
bank
If we assume, for a minute, that the BIIB was actually an invention based on a client's needs, then it wouldn't seem we'd need the SDVO advantage or any other one, for that matter. Pretty exciting days, no?
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Warp, wonderful analysis. Thanks for taking the time.
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Good to know. Thanks.
bank
Indeed, after reading up on EWA's products, the Tiger Suite looks very impressive. Their tagging and tracking product seems perfect for our airships, for instance. Naysayers will be buying soon IMO.
bank
Hey Indy, just curious who "everyone" is who keeps saying how fast it is supposed to be moving. Thanks.
bank
Warp, do you know if there's been any progress on the D&O front? Thanks.
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howwierd - that's a good question. When I asked Barbara on 12/16/11 if they had D&O or were planning on getting it, her reply was:
"To answer your question, we do not have D&O at this time but have been in discussions with several providers and intend to get it in place as soon as we can."
I'll try to follow up with her and find out if there's been any progress unless someone else here has updated info.
bank
Yup. It's certainly better than leaving a business card at the front desk.
I hope I'm speaking for the majority of us when I say that I'm glad we heard this news from management - helping the Red Cross is awesome. Are we tooting our own horn? Not really, IMO. Perhaps we are actually encouraging other companies to follow suit by our example. Those who say we should be doing more for our fellow Americans are right - and why not lead in whatever way we are capable of doing? I suspect that most of us jump in as individuals when we have something to offer our community. So, let it be. Let it be so. I join the crowd that says "Kudos, Glenn."
bank
Warp, you are correct re: the SEC requirements. Thanks for the clarification.
bank
IJO, I very much appreciate your enthusiasm and your willingness to dig in the mud. IMO you are a welcomed addition to the collection of respected and respectful posters on this board. I am an eternal optimist and still believe that the company and its intellectual property have a good chance at surviving, what seem to be, incredibly poor odds. I also believe we need to periodically assess where we are in terms of management's stated goals. Realizing that we have little public information to go on, I still feel that we need to do our best to accurately determine our company's progress as best we can. As per Michael Clark's letter to "fellow shareholders" on 2/9/12, I have given my own humbly opinionated grades and explanations in bold following each of his stated plans for the company. And I quote -
In 2012, we plan to:
Adequately capitalize the Company to expand our internal operations especially technical, sales and marketing, and operations personnel.
Grade: D. The company has been able to capitalize its monthly expenses with, what I consider to be, questionable funding from LJ. This does not fulfill the definition of "adaquate" from my point of view. It appears desperate, not at all what I believed management would be able to provide given its experience and circle of associates. Also, the company has not employed an adequate sales and marketing team IMO. This takes more than just Glenn and Anthony and Phipps' seemingly divided interests to catapult sales to a meaningful level of growth and profit. What is needed is a knowledgable, dedicated team of experienced, technologically sound sales people to really put some ducats in the coffers. But, at this point we don't have the resources to train or pay a sales team of that nature. Also, neither technical nor operations personnel have been expanded from what I can see.
Continue the development and commercialization of our Argus One line of airships and demonstrate to our Government sponsors and potential commercial customers the capabilities and cost-effectiveness of the Argus One UAV to drive revenues.
Grade: D. We have not seen any further development or commercialization whatsoever since AZ. The only reason I don't give this grade an F is that the Army has seen the Argus One to its full capabilities - the results to which we are not privy.
Aggressively target and market GTC's tracking and messaging and ground station construction services to potential Government and commercial customers to capitalize on the existing GTC contracts with Globalstar.
Grade: C-. We are left in the dark as to the ground station progress, if any. And, with all of the free airtime from Globalstar, one would think we could be incredibly competitive from a price standpoint and start to win over contracts. However, again, we are understaffed in the sales department. Lost revenue as every day passes, IMO.
Establish a U.S. retail market for GTC's mobile satellite services and products as a way to generate an additional revenue stream.
Grade: C+. OK, we have a website and we have a start. But, this is a HUGE sales opportunity and we are only doing a few hundred K. 'Nuff said.
Expand our relationships with UML and other technical partners to not only support our current LTA UAV product line but also to advance the research, development and testing of our next generation airships.
Grade: F. UML has not taken delivery of the Argus for testing and development and the only technical partner we have is Eastcor. And, God bless Eastcor for what they have done to date. But, they are not "other technical partners". They are our only technical partner.
Continue to develop strategic relationships with partners to advance the marketing and sale of the Company's products and services.
No grade given as "strategic" is too vague for any meaningful discussion.
Strengthen and expand our portfolio of intellectual property.
Grade: B+. Although we haven't heard definitively about patent verifications, the company has made great strides in developing, defining and protecting its intellectual property. Argus hybrid and BIB are both forward thinking IMO.
Continue to execute our strategy to strengthen our balance sheet and fiscal condition through the reduction of debt, resolution of remaining legacy matters and increased capitalization.
Grade: C-. I think that management pissed away shares in its underestimation of the outcome of legal proceedings against the company. To quote Clark, "Despite disappointment in the recent performance of the Company's stock, in large part we believe as a result of certain significant stock issuances the Company was forced to make to resolve legacy issues..." This just tells me they were possibly too confident or cocky or simply over their heads in the matter. Reduction of debt through the elimination of the money owed Kroeplin is the only saving grace here.
Enhance our overall corporate governance structure by, among other things, the appointment to our Board of Directors of qualified independent members who can assist the Company in this next phase of our growth.
Grade: F. Phipps has 2 appointees at his disposal. Where are they? I may be wrong, but didn't the SEC outline this as part of its mandate to the company?
Understanding that the year is not over and we still have a 10Q on the horizon, I give the company an overall grade of D for the year to date. This is certainly not where I expected us to be at this point. I remain an optimist. Despite the lack of apparent progress in the company's goals, I still feel that we will somehow prevail. I wish that somebody could explain why I feel this way.
Continued best wishes and prayers for the company and its shareholders,
bank
Yes, admittedly curious.
I fully expect to see contract revenue in this or the next 10Q based on management's previous statement concerning airship revenue in 2012. If this expectation is not met, it would be fair to evaluate Glenn's performance specifically and consider replacing him with a more capable leader. I got on board with this company based on what I believed to be Mike and Glenn's conviction that there was a very reasonable growth future for the company. This has yet to be evidenced, but Glenn has 1 more quarter to prove it to me.
bank
However, I would think they'd have a great interest in keeping the share price above .01. Let's just say for a minute that GTC's revenues continue and they have some cashflow. To use the money they used to spend on penny stock promoters, for instance, and instead buy back shares to support the shareprice would certainly be a wiser use of funds. On days where there are only a few hundred thousand shares traded, it wouldn't take much to support the SP for many trading days, even months. If they combined a slow buyback/support program with the ever increasing number of warrants going unexercised, the float would continue to decrease over time, certainly a welcomed change.
God knows if the company thinks in these terms, however.
GLTA.
bank
Wouldn't it be interesting if the company were to buy back stock at these levels?
bank
Jet,
It's probably worthy to note that he said "being planned" and not "being built".
bank
I specifically asked about their location. And, has anyone here seen Trashboy's arse?
bank
Last week I sent an inquiry to GTC regarding the ground station progress. Mr. Phipps replied directly and said that they "cannot disclose the exact location of ground stations being planned at this stage."
bank
gt - just click on the complete sec filings post 2nd from the top of the page.
bank
Pretty sure the BIB is not flying by itself. But, the hybrid on a humvee would be a different story. Also, why only 48 hours max? Does it leak?
bank
The picture of the box looks to be inside the hangar at Easton Airport, although I can't be sure.
bank
Thanks Sami. eom
Do they provide actual specs with those titles?
bank
It would be great if they posted this stuff on their website.
bank
What does the blurb say?
bank
Actually, I think you're right.
bank
Well then I guess an automated launch and recovery system must have anotber meaning. But since the argus hybrid is based on the bib technology I'm taking that literally.
bank
Folks - read the release again. This is not a tow-behind. It is a hybrid. It gets released and goes on its separate way. Kudos to Eastcor if it works.
bank
By NBC News’ Jim Miklaszewski and Courtney Kube
A U.S. Navy drone flying out of Patuxent River Naval Air Station crashed Monday after operators lost contact with the aircraft, NBC News reported.
The BAMS-D (Broad Area Maritime Surveillance), an unmanned demonstrator aircraft that’s still in development, went down in a swampy area of nearby Bloodworth Island on Maryland’s Eastern Shore. The 44-foot aircraft was on a training flight when it went down.
There were no reported injuries on the ground and no damage to property. The cause of the crash is still under investigation.
The Coast Guard set up a safety zone around the marshy area along the Nanticoke River where the crash occurred, The Associated Press reported.
The BAMS-D is basically the Navy's version of the Global Hawk surveillance drone, made by Northrop Grumman.
I think the obvious is that there IS a good reason. Conspiracy theories are not germane to this discussion, in my opinion.
bank
The answer I received was "I'm sure you realize I can't say more than what was in the press release. As we have additional material information, we will be sure to press release and/or 8-K it. Thanks for the continued support of the Company."
bank
Hey sami,
Did he give you any other tidbits other than the comment about with money and personnel anything's possible?
Thanks.
bank
Exactly.