Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
I am here....
....to fully experience the happy ending, from a long's perspective that is.....
Naked shorts....
Can't tell how many are out there but the practice continues...As far as TOVC goes, I bet the number was quite high at one point...the 31,000 published number is mearly the reported number...the unreported "naked" number is anyones guess...my guess is that there is still a decent sized naked short position on TOVC, but not near the level is was a few years ago...over time, coverage occurs slowly and methodically without running the price up....should the company announce something with critical mass, I think there is still enough of a short position to make for some fun times on the board here...
Yes......
They are the ones without the pants...
20,000 plus shares trade at or near the ask....
....over about an 8 minute span. There have been some interesting trade sequences going on with Torvec over the last few weeks...
Good question blue....
The trading was very abnormal.....that was really the part that caught my attention..... as you mention, we have seen TOVC trade in spurts over the years, but today had a very different sequence than really at anytime before...urgency could explain it, a short with a margin call...? could be...
i also dont expect a big breakout because of this buy either, but I will say this, that when 40,000 of TOVC trade in 2 or 3 minutes surrounding the opening bell, half of which trades above the ask, my antennae go up...
Correction...
20,0000 shares of the first 37,5000 traded above the ask, verified by my level II time and sales. they were blocks of 15,000 and 5,000
10,0000 shares trade above the ask before the open.....
37,500 traded by 1 minute after the open including a block of 15,000...all trades appear to have occurred above the listed spread...
Someone knows something and has taken a keen interest in TOVC
Yes..........................
Greetings....................................................
I used to post here because there was a healthly dialog and discussion, many times passionate, relating to Torvec...pro and con...positive and negative....then the board changed to become a vehicle to drive some agendas rather than a discussion forum...so i choose to rid myself of the ihub addiction and only poke my optomistic head in here periodically...I put the ihub "pipe" down...(Hello...my name is Torvecian and I am an ihub addict......All: "Hi Torvecian..!!)
Still have all of my shares....very full position...wished it had been a 10 bagger years ago, but I still feel confident that this ends very nicely for shareholders of TOVC, just on a vastly different timetable than eveyone wanted, including the G's, the BOD and all of us here...this story has a good ending.
OT....Interesting read Lynx....
OTC.BB and penny stocks are manipulated all the time.....Torvec is no exception. The complaint highlights some of the methods and tactics that can be used to do it...
back to lurking....
You're not talking to yourself...
Something good comes out of this long journey for shareholders of Torvec.
Touche...
Enjoy the weekend everyone...
9 months ago....
In that 10 Q,and each one since, the company has published it's going concern opinion. Maybe you are not aware of this, but each quarterly is approved by the auditors prior to filing and in some cases causing delays in the filings. When the 10K is prepaired, the auditors then issue their opinion letter concurring with the company's disclosures, financial and otherwise. So the auditors are agreeing with the company's own assessment which they have had in the Q's for 9 months...nothing new has occurred and nothing has changed with the 10K....
I said....
the going concern wording has been out in the filings for 9 months....find it
Keep looking.....it's in there...I know where it is...I read the filings
Sorry to spoil the grave dance but you appear to not really be reading the filings for this company that you want so desparately to fail that in your ihub profile you state the following:
"dabreeze21 is...waiting for Torvec to go belly up."
Let us know when you find the info...
LOL...
It did have kind of a soothing affect.....LOL ....
I hated to throw cold water on the fire dancers as they were having such a good time, but the fact is the going concern wording has been there for a while. And if you look back over the public life of Torvec, the cash-on-hand status of the company hasn't changed much over the years. How the SEC looks at that cash-on-hand relative to reporting has changed and gotten tighter....That's a good thing for shreholders and the companies as well. I don't know the rules for sure but I believe that if at the moment the auditors are reviewing Q's for filing, if a company doesnot have cash on hand to meet a full year's budget, the going concern status is triggered...Torvec has never, to my knowledge, ever at any time meet that requirement so nothing has changed in that regard..Torvec still has no debt and has always meet it's finacial obligations.
To your point about the ties to DC, the government intervention in everything....I made the point yesterday that this unprecedented chaos could point the needle to companies like Torvec....i guess we'll have wait and see what the DC consultants can do....looks like they have a cash incentive to make it happen and have given the company a positive indication of things to come.....
I am of the opinion that this plays out for the benefit of shareholders...the magnitude of what happens is certainly up for debate...I am in for the end game....and i think it is a new game not the 100th inning of the original game...too much has changed...that is a good thing for Torvec.
Sherlock....
That wording has been in the filings for 9 months....
OT and OT ...Couple of things.....
My point was that when you look at charts, just about everything looks down over that period....the trend lines are all down ....
Marketing/advertising isnot what this is about...this isn't toothpaste or soft drinks....it is about industry positioning and having the industry connections....are they in front of the right companies at the the right time to do some deals?...are they finally now properly positioned to, after 10 years, become what we have all hoped they would? given the current economic environment and the state of world affairs, i suggest that Torvec 's positioing benefits from the current chaos. Some think so...myself included. You now don't, and you are entitled to your opinion, which I no longer value based on the fact that it switched overnight when Torvec turned down your request for shares.
By the way,does Jim know that he isn't healthy? I hope he doesn't have to learn that from an ihub message forum....
I agree blue....
The chart for the Dow, S&P and the Amex for the same time period isn't much differnt looking than Torvec's or GM's......
OT - There are probably some others that would like to know the answer to this.....
When you asked Torvec for shares in exchange for your services and they turned you down, the smear campaign started...had the company given you the shares, would you today be trashing Torvec...?
Hank Aaron struck out 1383 times....
I agree blue heron.....
Funding changes the game and it's always been an issue. No debt but limited funds as well....changes the speed factor on getting this to the finish line in what is a strange combination of products that meet the needs and the timing of that need bubbling up to the surface. The game is changing on he fly....something very good is going to come out of this for Torvec shareholders....
Nzed posted the ceo update but the link to the diesel particulate filter test results did not copy to his post. the link is pasted below.....
http://torvec.com/Particulate_Results.htm
Interseting visual results on the ivt emmissions vs the automatic tranny emissions...
(Note to self....if i ever have chance to visit Torvec at Rochester facility, donot drink the coffee......)
Nzed...thanks for the update heads up....
Two things hit me as I read the update....
...first the gov't funding....the money is there, it has to go somewhere so whynot Torvec given the suitablility of the tech and the target tech for the program...per the consultant, the company is "well poised" to participate...
...the second is that Torvec is telling us to "be assured that all of the projects discussed at our shareholders meeting and in our public filings are proceeding apace." I have got to hand it to these guys.....they absolutely keep on swinging despite the high hill they have had to climb over the years and in the face of seemingly endless criticism....my hats off to them....keep swinging guys...
Not sure about the number of shares CXO willnot be receiving....
....I think it was in the several hundred thousand share range though....It has always been my opinion, and still is, that they sold short against that position confident that those shares would come their way to cover.....OOPS.....wonder if that position has been covered...
The filing states that both parties have dropped everything against each .....to me that's a victory and eliminates what could have been an obstacle in a number of different ways....
Onward...
Here's an interesting tidbit.....
http://www.sec.gov/Archives/edgar/data/1063197/000129993309001091/htm_31708.htm
SETTLEMENT AGREEMENT AND RELEASE
On March 6, 2009, Torvec, Inc., James Y. Gleasman, Keith E. Gleasman, Richard B. Sullivan, Gary A. Siconolfi and Floyd G. Cady, Jr. on the one hand (the "Torvec parties") and CXO on the GO, LLC, CXO on the GO of Delaware, LLC, Philip A. Fain, Read D. McNamara, Richard E. Ottalagana and Robert F. Green on the other hand (the "CXO parties") executed a Settlement Agreement and Release, effective as of December 31, 2008, pursuant to which all such persons discontinued all litigation by and between them, including litigation commenced on September 30, 2005 and February 13, 2007 by certain of the Torvec parties against certain of the CXO parties.
Pursuant to the Settlement and Release, each of the Torvec parties and the CXO parties have released any and all claims and terminated any and all obligations that they had or may have had, one to the other.
All other terms of the settlement are confidential.
"I'm simply long time investor looking for a return".......
Me too.....
"Why is that irrational feeling to so many on this board.....
It's not....
Nor is my anticipation that the years of effort and positioning are going to produce what we as investors want out of our Torvec positions....there are plenty of rational thoughts to go around for everyone...
So............................
.......we have no trades in TOVC yesterday and 15,500 during the opening 45 minutes this morning....I commented on the TOVC supply/demand topic in my post yesterday....at some point there will be sizeable lift from these levels
After exhaustive analysis of today's trading..........
.....using the pythagorum theory and applying a sequence of complicated algorithms, I have found that there were an equal number of buys and sells on TOVC today....
...people are holding their positions and at some point the demand will be there and the supply willnot....ipso facto, dominus vibiscum, we then experience lift....which has nothing to do with Newton's Law.......
OT - ..................................................... ..
The stuff being thrown down here is laughable.....
From the text of the meeting in the filings....
"The continuing economic crisis has slowed our progress towards reaching a final, written agreement."
OT.................Thanks.............................. .........
I hit a new record high for private messages received during ihub Happy Hour on Friday........thanks to those who sent them and for your observations and thoughts.....I was not in the office to respond.....
In case any one is interested, anyone care to guess who is sitting on the TOVC bid and ask this morning.....I'll give everyone a hint....it rhymes with shnite shnequities....
OT..................................................................................... .
Could you please ask ihub admin to re-instate the deleted posts from the last 3 or 4 days for THXTOVC, Blue Heron, LTHold and myself and put OT at the beginning of them....
Thanks
Ok...................................................................................
(note to self....learn how business works then call dabreeze)
I agree blue heron...
Good description...
...battle fatigue....some are frustrated and angry that the war isnot over....some, like myself, certainly wish the victory was in hand, but are still fighting for the same side...I understand all that...your point about management is well taken as well...they might be tired but appear to be forging ahead with our best interests in mind yet they get crucified on a daily basis...I guess it comes with the territory....they put out info to try to inform the shareholders and get smeared...they get smeared when they don't put out info...
I choose to continue to highly support the G's and the Torvec management team because I think they are best suited to cut the first round of deals for the company and the shareholders...at some point i bet they would be thrilled to turn over the reigns to a verteran of the business that hasn't already ruined a company...LOL....for now, my money is literally on the G's and the current team at Torvec. Based on what appears to be going on behind the scenes they will continue to get my support on this forum.
Your comment about crossing the Rhine is most certainly going to have some interpreting that to mean that Torvec is about to do a deal with a German auto maker....LOL...
My best to all....
dread....when you posted the 8k info ....
....you left off the part about the over 99% vote in favor of the directors and officers and the 12.8 million out of 13 million nonafilliated shareholder votes in favor of the directors and officers.....98.5% in favor...(98.46% actually...that is for you allnumbers) .. I pasted it below...
Item 7.01 Regulation FD Disclosure.
Torvec Inc. held its annual shareholders meeting on Thursday January 29th, 2009. At this meeting the nominees presented to the shareholders for election as directors were approved by a majority vote exceeding 99% of the total votes cast.
At the same meeting the audit committee's appointment of Eisner LLP as the company's independent registered accounting firm for the company's fiscal year ended December 31st 2008 was ratified by over 99% of the total votes cast.
In excess of 83% of the total number of issued and outstanding common shares eligible to vote participated by voting in person or proxy at the annual meeting.
Approximately 13 million nonaffiliated common shares participated by voting at the meeting, with approximately 12.8 million common shares voting in favor of management.
Attached to this Form 8-K is the text of the presentation delivered by James Y. Gleasman, the company's Chief Executive Officer.
Partial correction...
5000 shares were pre-market opening, but all 10,000 were below the bid...Knight Equities has been camped out on the ask all morning just like they have for the last month...
Another classic MM manipulation this morning.....
10,000 shares trade at $1.24, below the bid and before the market opens....
Check this out....
For the time period 1/1/09 to 1/15/09 there were roughly 110,000 shares of TOVC traded and settled.....
For the same time period, the published short position for TOVC increased from 71,780 shares to 185,400 shares....an increase of 113,620 short shares.....
...Which means that ALMOST ALL of the shares bought during that 2 week time period were sold to the buyers by a short....
....What does that mean...longs are holding onto their shares and that as the stock price approaches the $1.40 to $1.50 levels, the short player will throw shares at it to keep it from breaking through what is most likely an averaged in short level in the $1.50 to $2.00 range...Knight Equities has been the market maker controlling the spread on TOVC almost every day during the last month...there is a short position connected to Knight....at some point that position will have to be unwound....how big is the naked short position....?? dont know but there is one....
I tip my hat to the Torvec team and wish them well at the shareholders meeting tomorrow night....
Couple of observations....
1 - Several times in the last month, the opening trade has been below the bid..it happened this morning with 800 shares below the bid..nice manipulation.
2 - to the discussion on the Bentley and the Torsen....it appears that the Torsen has been in the Bentley GT for about 4 years, so it is wrong to say that it is "new" tech in a high end application such as the Bentley...also, smearing Torvec by suggesting that Bentley should know about the iso-torque is wrong.