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GLTU - it would be fun to watch.
Long green candle biggest reason. Correction, run may resume but lets see how things go tomorrow. IMO 30% chance run will continue on even past tomorrow.
Looks like simply because the 'chart' looked good and momentum players jumped in. Most of these plays lately have been short and swift. Stock is really getting talked up which is a sign that there are a lot of people really anxious to dump into strength tomorrow. IMO 70% chance the run will peak sometime tomorrow, but this should not come too close to the recent lows for some time to come. I am just watching, but just the same I will call for a close in the .014 - .017 area tomorrow without any news. All bets are off if this gets news.
LOL - congrats Haz investors ! Onward and upward !!
And thats fine. I just shut him off. Click.
LOL ok just because YOU got ripped off . . . I'm in and feeling just fine.
No he fits the M.O. of a FUD basher. Paid basher. Which is hard to figure, what is there to bash ?
That sounds about right.
Can't hear you - did the feds take you away ? Activate your pager.
Kewl - you haven't said a thing anyway. Silence just the same.
We have heckled him into silence . . .
Yeah something outrageous like that - I finally stopped trying to figure out what kind of voodoo they were trying to pull. But I would like to hear from anyone who made out on that deal and how they did it.
I'm not sure - probably not. I have to wonder if all the warrents were converted to their max possible shares, or if they need to be able to converet preferred to common, but I would have to comb through the filings to figure that all out.
True though they still have to account for the restricted shares. The S8 might be needed so they can dump now, and to pay their 'consultants'. Anyway, its all bad.
Welcome to the world, kuttle !!
LOL .40 => .0020 => .0027 what is that ? Dead ox bounce ?
Yeah blah, blah, FBI, blah, scrutiny, S8, blah.
You heard the man, were are demanding a straight answer from you like yesterday, if you catch our drift. And none of your FBI, SEC, Lucky the Leprechaun ripped me off snivel. We don't care about that. Garden variety basher.
Obviously a failure so far. I wonder if there is a chance these guys will ever do anything. If they keep losing out and giving away the money they raise in the market then they are either greasing everyones palms or just plain inept as entrepreneurs. Will just keep watching. Maybe.
This is pretty much what I come up with. I don't think the O/S was even as large as 6.8B after the volume surge back in Dec as a lot of old longs had sold out then. IMO we are probably running between 160M and 200M O/S. MJ was previously targeting companies totalling 9M in annual revenues. That would look pretty good with this share structure. We would trade at about 5-8 cents/share just at 1x revenues if this all came to pass.
Well RVME did have a 5:1 f/s in there so the real factor is 28,000,000,000,000,000 - but if they keep going they will pass PCLO. PCLO actually turned a profit last qtr and is trying to clean up. Not to say they are a play now but who knows.
RVME - remember there is a 1 Billion S8 overhang on this and they barely hsve gotten started dumping. The preferred shareholders have all the assets. This is worse then PCLO as they have almost no income either.
LOL already pumping cuz you bought at a penny and now you're stuck, eh ? Can't win them all, I guess. Remember there is a 1 Billion S8 overhang on this and they barely hsve gotten started dumping.
http://www.investorshub.com/boards/read_msg.asp?message_id=17840170
I think this product has yet to be released -
Anyone know what is happening with this ? I guess its what these guys are trying to do right now.
Viva International Plans to Merge Caribbean Subsidiaries With U.S.-Based Transportation Company
Feb 12, 2007 4:26:00 PM
TRAVERSE CITY, MI -- (MARKET WIRE) -- 02/12/07 -- Viva International, Inc. (Viva) (OTCBB: VIVI) announced this morning that it has issued a letter of intent to Transportation Associates, Inc. (TA) that proposes merging Eastern Caribbean Airlines Corporation (ECA) and Viva's 49% in Viva Air Dominicana S.A. (VAD) with TA. The contemplated merger would then been subsequently spun-out to the shareholders of Viva.
Transportation Associates, Inc. is a holding company specializing in the acquisition and management of trucking companies. Transportation Associates, Inc. has previously estimated the annual revenues of its subsidiaries to be in a range of $15-20 million.
Under the plan, ECA will issue 1 million shares of Series A Convertible Preferred Stock to TA in exchange for all of the Capital Stock owned by its shareholders. The preferred stock will be convertible after 12 months at the rate of 1 share of Series A for twenty shares of common stock of ECA.
As additional consideration under the merger and subsequent spin-off, $1.5 million of liabilities (Viva and subsidiaries) will be absorbed or assigned to the new merger (ECA and subsidiaries).
Upon the effective date of the spin-off, Viva will issue, as a dividend to its shareholders, 100% of the common stock of ECA issued and outstanding at the time of the spin-off, on a pro rata basis. The exact number of shares will be determined at the mutual agreement of the parties prior to the spin-off, but the parties contemplate that a total of approximately 5 million shares of ECA will be issued in the spin-off. Accordingly, qualifying shareholders of Viva will receive approximately 1 share of ECA for each 15 shares of Viva that they own at the effective date.
Calvin Humphrey, Viva's CEO and Chairman, released the following statement: "The need for Viva to plan for the merge of our Caribbean subsidiaries and their subsequent spin-offs is necessary for several reasons. Primarily, it is necessary to be able to properly finance the respective operations of the aviation-related businesses and acquisitions that we have planned for Viva while recognizing that it would be easier for our Caribbean-based subsidiaries to be financed as part of a respective merger with an entity such as Transportation Associates. Secondly, as we go forward it is becoming apparent that with the focus of our efforts being toward aviation-related businesses like River Hawk Aviation and Flight Test Associates that our management team does not have sufficient time available to devote to the Caribbean airline subsidiaries. Accordingly, the time to address what is best for both organizations, as well as our shareholders, is now and I believe that our plan provides the opportunity to accomplish this."
About Viva
Recently Viva International, Inc. (Viva) agreed to purchase of the assets of River Hawk Aviation, Inc. (River Hawk). Prior to this, Viva was primarily dedicated to the formation and development of airlines along with the acquisition of aviation-related operating businesses and airlines that displayed potential for restructuring into profitable and sustainable aviation-related growth concerns. The Company's primary involvement was with two developmental-stage carriers in regional markets from hubs in Puerto Rico and Santo Domingo, Dominican Republic. Our hub in Puerto Rico was maintained through our subsidiary Eastern Caribbean Airlines Corporation and our hub in the Dominican Republic was maintained by Viva Air Dominicana, S.A. Each of these companies remain as subsidiaries of the Company and are being evaluated to determine the best course of action to return them to active operations.
The Company has now expanded its focus to also participate as an aviation parts and components supplier in the broader aviation industry, currently specializing in Saab and other commuter aircraft parts and components as well as a provider of consulting services, marketing and appraisals to the aviation community. At present, the Company maintains executive offices in Michigan.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended ("the Exchange Act"), and as such, may involve risks and uncertainties. Forward-looking statements which are based upon certain assumptions and describe future plans, strategies and expectations, are generally identifiable by the use of words as "believe," "expect," "intend," "anticipate," "project," or other similar expressions. These forward-looking statements relate to, among other things, future performance, and perceived opportunities in the market and statements regarding the Company's mission and vision. The Company's actual results, performance and achievements may differ materially from the results, performance, and achievements expressed or implied in such forward-looking statements. Additional factors that could materially affect these forward-looking statements and/or predictions include, among other things: (1) managing acquisitions and expansion of operations; (2) our ability to obtain necessary financing and to manage existing debt; (3) the risks inherent in the investigation, involvement and acquisition of a new business opportunity; (4) our ability to successfully complete financing and due diligence under the River Hawk Asset Purchase Agreement; (5) the Company's ability to comply with federal, state and local government and international regulations; and (6) other factors over which we have little or no control. Further information on potential factors that could affect Viva International, Inc. is found in the Company's Form 10-K and other documents filed with the U.S. Securities and Exchange Commission.
Contact
Viva International, Inc.
(231) 932-7490
About 2.5 cents - the opening price the day of the r/s was $1 and has since declined to 55 cents.
Roller-coaster career ends in prison
Telecom exec linked to Jefferson gets 7 years
Saturday, September 09, 2006
By Bill Walsh
and Bruce Alpert%%par%%Washington bureau
WASHINGTON -- Kentucky businessman Vernon Jackson, the son of a school custodian who had built himself into a high-tech multimillionaire only to lose it all, was trying to claw his way back into the game six years ago when he met Rep. William Jefferson, D-New Orleans.
Jackson, whose fortune was once estimated at $32 million, saw the congressman as his ticket back to financial success and respectability. Jefferson's connections in Washington and West Africa held the promise of finally finding a market for Jackson's patented telecommunications invention that could make both of them rich.
Instead, according to FBI wiretap transcripts and court pleadings, Jefferson hit up Jackson for nearly $400,000 in bribes and eventually sought to seize control of his fledgling telecommunications company, iGate Inc.
Jefferson has not been charged and has maintained his innocence.
Jackson pleaded guilty in May to bribery of a public official and conspiracy to commit bribery. He was sentenced Friday to seven years and three months in prison. Jackson has agreed to cooperate with federal prosecutors in the case the federal Justice Department has been building against Jefferson for a year and a half. He is scheduled to begin serving his sentence in January.
At first glance, the two men would seem an odd pairing. Jefferson, who received a law degree from Harvard University, is wry and urbane, a slim stick of a figure who speaks in low, clipped cadences. Jackson is a bear of a man who talks with a booming voice and attended technical school on his way to starting his career toiling in the telecom labs at AT&T.
But they also are remarkably similar in ways that would draw them together in an audacious business venture that has turned into a nightmare.
Jefferson, 59, and Jackson, 54, are African-American sons of the segregated South who were born into large families with little money but an abiding devotion to religion. Each was one of nine children, Jefferson growing up in rural north Louisiana and Jackson in Charlotte, N.C. They also shared an unflagging personal energy and a burning ambition to rise above their humble origins.
By the mid-1990s, both had made it. Jefferson parlayed his Harvard law degree and a canny political instinct into a successful career as the first African-American congressman from Louisiana since Reconstruction.
Jackson, a technology whiz kid, was recruited out of high school by AT&T, where he spent the next two decades. Deciding to strike out on his own, he formed his own firm in 1990 on the strength of a patent he received for what he believed to be breakthrough technology. The invention would allow voice, data and video images to be transmitted across existing copper lines without the need to install expensive fiber optics. He eventually packaged the invention as a service that would allow workers to conduct video conferences from their desktop computers.
It "was literally a product which could save the U.S. military and the U.S. government hundreds of millions, if not billions," of dollars, said William Warner, who marketed the technology for Jackson.
With his brother, Richard, Jackson launched VideoLan Technologies Inc. in 1994, and a year later took the company public. Almost overnight, VideoLan's stock soared from $4 a share to nearly $50.
Suddenly rich beyond his wildest dreams, Jackson bought his wife, Sandra, a Mercedes-Benz, and the couple plunked down $1.5 million to build a mansion alongside a golf course designed by Arnold Palmer in one of the toniest neighborhoods of Louisville, Ky.
But VideoLan struggled. Friends said telecom giants in the industry smothered Jackson's plans after he rebuffed their buyout offers. Within three years, Jackson had been ousted from VideoLan, which was headed for bankruptcy. His $250,000 annual salary was shut off, and his stock holdings plummeted in value.
By 1997, unable to make payments to the builder, his dream home became an abandoned wooden shell of two-by-fours that neighbors complained was an eyesore.
"He always had two problems," said Kiran Chudgar, a Louisville businessman who helped develop prototypes for Jackson's technology. "One was that he had a lot of big corporations who weren't anxious for his technology to succeed for competitive reasons. The other was that he never seemed to have enough funding to make his ideas happen."
Jackson may have lacked business acumen, but he believed in his product and he had ambition to spare. He successfully sued his old company to get the patent rights and started over with a new firm he called iGate Inc.
Jackson's attorney said his client wasn't motivated by money alone. Michael Nachmanoff said Jackson also wanted to use his invention to bridge the "digital divide" in telecommunications between the haves and the have-nots. Jackson believed his technology could bring broadband communications to people and places that otherwise couldn't afford it.
"It was in this context that he met and developed a relationship with" Jefferson, Nachmanoff wrote in court filings.
By the time they met in 2000, Jefferson had carved out an influential niche for himself in Congress as a brainy, business-friendly Democrat with a keen interest in West Africa. Jefferson saw promise in Jackson's technology and, according to court documents, got busy making it happen.
To verify the effectiveness of Jackson's creation, Jefferson got it tested by the Army's Technology Integration Center, which gave it the thumbs up. Jefferson then helped get iGate's product listed on a prominent federal government contractor database. It was scooped up by Fort Sam Houston in Texas and Fort Stewart in Georgia. But few other contracts followed.
Nonetheless, things seemed promising to Jackson, who told those in his inner circle that he had a "friend in Washington" who was going to put him back on top. Jackson called the congressman "Jeff," and their families grew close. Jackson recommended Jefferson's daughter Jamila for a seat on the board of a Texas telecom firm, Gridline. According to a story in the Lexington (Ky.) Herald-Leader, Jackson and his wife accompanied Jefferson and his wife, Andrea, to New York for a weekend getaway in September 2004 that included seats at the U.S. Open tennis tournament, tickets to "The Lion King" on Broadway and some shopping.
The friendliness, however, masked a secret pact the two men had forged, according to the FBI. In 2001, court records say, Jefferson demanded that Jackson give him a cut of the business. He urged him to sign a professional services agreement with the ANJ Group, a company led by Andrea Jefferson. The deal called for 1 million shares of iGate stock, $7,500 per month and a 5 percent share of the company. Eventually, the FBI says, Jefferson demanded 35 percent.
The FBI says that over five years, Jackson paid the ANJ Group $367,500 disguised as consulting fees and paid for travel costing nearly $88,000.
IGate was hoping to find a lucrative market in Nigeria, a poor country whose telecommunications system is antiquated. Largely through Jefferson's influence, the FBI says, the Nigerian firm NetLink agreed to put $45 million into the deal and fronted $6.5 million to iGate.
NetLink eventually backed out, and Jefferson lined up a new investor, Lori Mody, a Northern Virginia millionaire. In conversations taped by the FBI, Jefferson can be heard telling Mody that he planned to move Jackson aside and take over the company himself.
Things began to unravel when Mody suspected she was being stiffed. She had paid $3.5 million for the rights to iGate's technology, but Jackson refused to sign them over. She went to the FBI to complain about fraud, a tip that hatched a bribery probe targeting Jackson and Jefferson.
Writing to U.S. District Judge T.S. Ellis III, Jackson's wife acknowledged Jackson's complicity in the bribery scheme. But she also said her husband was taken advantage of.
"I feel that he had to be blindsided by individuals who have no regard for people," Sandra Jackson said.
Jackson's dream of a quick trip back to the good life has taken a detour through a federal penitentiary. When Jackson pleaded guilty, he asked for a court-appointed attorney, saying that he was destitute. His financial forms listed debts totaling more than $360,000, almost as much as the FBI says he paid in bribes to Jefferson.
. . . . . . .
Bill Walsh can be reached at bill.walsh@newhouse.com or (202) 383-7817.
Bruce Alpert can be reached at bruce.alpert@newhouse.com or (202) 383-7861.
LOL try the RVME board if you want to see a drop. Nuff said.
OK I'll watch - just make sure you're out before Joey's feeding time !!
JT, please don't say you bought into RVME after the r/s. If you did, didn't you know about the r/s history of this stock. If not, why not. Just curious.
Right, and with the share structure with the preferred convertible, Joey and the insiders own everything anyway. Common shareholders have next to nothing. Even if the enterprise eventually succeeds they will still have almost no part of it.
Crossposted from RB:
That's not that bad - I have been watching and accumulating some shares (and also calling periodically for the outstanding share count). Here are the shares from times I called:
2-2-06: OS = 1,038,970,000
9-27-06: OS = 1,248,344,821
11-30-06: OS = 1,248,344,821
3-1-07: OS = 1,353,348,962
and according to your call:
3-15-07: OS = 1,353,348,000
So, since September of 2006, the outstanding share count has gone up only about 105,000,000 (at $.0003, these shares would be worth about $30,000). This is not a big deal. Also, when were the high volume days recently? I ask because you will see that the OS has stayed the same since at least March 1st (I had not called between November 30, 2006 and March 1, 2007 - somewhere in there another 100 million shares were added).
Yep. And no one make a mistake, just because it has dropped 99.5% from it reverse-split price that it is done dropping. there is no bottom. It is still 20 ticks above absolute zero, where it is headed straight to IMO. Never seen anything like it.
Yes, that article. Were the assets transferred back to the company presently operating as Videolan Technologies, Inc., or the VLNT shell (also named Videolan Technoloogies, Inc.) - as you know they are two different things !
I thought the patents were bought out of the VLNT shell back in 1998 when they went through the Chap 7 process. I don't believe VLNT has claim to anything whatsoever. Its just an empty shell with no assets (or debts).
Thats it. Any buying is disturbing as that is money being wasted that could have gone to better plays.
Anybody bought thinking they caught the bottom, wanna flip ?
You learning anything yet ? Sell at the bid or lower while you can get anything at all for your shares. This stock is NEVER a buy. EVER.
writon, can you make a comment on the Jan 16 PR ? Was the sugar delivery completed successfully, and did ILCO get their money ? What are the prospects for future deliveries, and their activity in shipping in general ? Are they making it work ? Even a brief reply would be appreciated. Thanks.
I still think he had a silent stroke. Time catches up with everybody.
Right - I did not to make even a hint that anyone should buy it under any circumstances. This is an absolute TOXIC stock and should not be bought. Ever.