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Not relevent at all. Those showcased actually produced cars. All Peter's has done is make predictions. Big difference.
cowboy
Guys, I don't think HLXW will recover. I hope I'm wrong. They went from $400k in revenues for qtr ending March 31, 2009 and this year they only had $5k in revenues for the same quarter. Either the industry doesn't have faith in this product or they don't have faith the company will make it as a going concern. Who would pay $5k for a product when the company may go under at any time. Your warranty would be worthless. I think they have a great product, but is doesn't matter so much what I think. If customers don't buy their product, then their is no future.
cowboy
You never know...we might be able to get a ride on his coat-tails, er hum...cape and be able to ride this thing out. lol
cowboy
By the way, where is Protectorman??? I thought he was here to protect our (or huh his) investment. We are knocking at the .0001's door.
cowboy
Doesn't really matter since Pete has no money, unless he is banking on getting his hands on Carnes' settlement funds. Pete cannot build anything until he gets more financing. Otherwise, the only thing Pete has to sell is his design plans. I guess he could sub-lease the Decatur building out and use the proceeds to start building the Blade in his garage.
cowboy
I really believe the share price reflects the dumping of shares by the convertible note holders. This is due to the triggering events in February and again in March and April. HLXW has had to place stock in escrow for these events and the note holders have taken possession of this stock. The only way HLXW can finance their operations as well as pay back these loans / notes is to issue stock. The 10Q stated that they needed $5million to fund operations this year. HLXW has no cash so the only way to get $5million is to issue approximately 250,000,000 mores shares (250mm x $0.02 = $5million).
Also in the SC-1 filing, mgmt states:
On April 23, 2010, the Company received a notice from the Investor notifying the Company that a liquidity default had occurred under the Convertible Secured Promissory Note, dated March 30, 2010, in the principal amount of $779,500 made by the Company in favor of the Investor (the “First Note”). As a result of the decrease in the market value of the Company’s common stock, the Investor has also exercised its default remedies under the Pledge Agreement with Kenneth O. Morgan which would resulted in St. George receiving the 4,800,000 shares of the Company’s common stock pledged by Kenneth O. Morgan, and Kenneth O. Morgan receiving the 6,000,000 shares of the Company’s common stock which was placed into escrow by the Company. Additionally, the outstanding amount on the First Note was increased by 125% and the interest rate under the Note increased to 15% and the balance of the First Note, as increased, plus all accrued interest, fees, costs and penalties are due and payable within 30 days of notice.
This stock is going to triple zeros imho.
I owned just under 100k shares. Now I own zero! This stock might have a bounce, but it won't bounce until it hits triple zero! imho
cowboy
Yea...Weeeeeeeeeeee...gonna be in a heap of trouble.lo.
I can guarantee that they're not crystal balls, otherwise this guy would have ran the other direction.
cowboy
300,000 shares. WOW!!! The buyer must be very convident if they are buying this many shares. They've got to have some insider information. Never in my wildest dreams would I place all my eggs in one basket. lol
cowboy
If that's the case, I wonder if we can chose our colors and style of certificates. I need wallpaper for the basement to my outhouse. lol
cowboy
You talking about royalty payments or disgorgement settlement payments? As far as royalty payments, well here again, I think .0003 will be more than any royalty payment Peter will give shareholders. As far as distribution of disgorgement settlements, I'm not sure how that would be handled. How would they determine which shareholders would participate? Current shareholders, shareholders who have already sold out with a lost??? I would think that shareholders would have to submit their documents to the court in order to share in any distribution similar to a class action suit. At the same time the court will have to determine what magnitude shareholders were hurt ($ wise). That is, selling of unregistered shares had an $xx diluted effect on the price per share...something to that effect.
Actually, anyone hoping to get anything from this settlement is only extending their current dream (or nightmare) that RVGD will resurrect. imo
cowboy
I unloaded a few today so I can take the misses out to dinner. I figure .0003 was more than the future royalties that I was going to get. Still have a couple of million to sell should some unsuspecting sucker, I mean soul, stumbles into Peter's web.
cowboy
I concur. Sales are down significantly from prior year. On the bright side, they got a good bump on the derivative valuation (albeit they still have a long way to go).
cowboy
1st quarter 10q issued
http://biz.yahoo.com/e/100514/hlxw.ob10-q.html
Here again, insiders can only buy/sell during specific windows. Now the company might be issuing more shares since they did say that they might need to obtain add'l financing. But I think they would have to file another registration form with the SEC, similar to the one they filed registering stock for St George.
cowboy
I wish company insiders were buying this stock, but they can only buy during specific windows because of their insider knowledge. Also, there is a difference between buying shares and receiving stock options.
cowboy
The CEO is not buying 8mm shares at .10, he was granted options to purchase shares at 50 cents. The share price on the date the options were granted was 10 cents. Need to make sure we are presenting facts.
cowboy
Yea, but based on your previous comment...its only good for stink bait! But hey, let's go catfishing.
cowboy
Just my luck.
cowboy
On second thought...I've already paid for them. I'm not going to pay twice for my Revenge...Peter, just send me two of each of those Revenge spinnerbaits.
cowboy
Actually I like to idea of the Revenge Bait. Peter could melt the body of the verde and GTM-R down along with the metal in the cars (he might have to acquire some metal since there is no engines) and make some pretty bright spinner baits. I would buy a few...one to hang on the wall with the stock certificates as a lesson learned and a couple more to see if I couldn't get lucky with a bass or two. At least this way I would actually get something in return for my losses.
cowboy
Sure glad to see it green. I've averaged down to about 20 cents and don't won't to risk anymore. At this point I am just flipping 20,000 shares here and there, hoping to curb some of the future losses if this thing doesn't recover. And if it does recover, I will be sitting just fine. If not, well, I've got my gains from flipping this thing.
cowboy
Sample...isn't phase 1 almost done? They have already filed their 10k and just filed their S-1 registration with the SEC and received some capital from their financing with St George. It would appear to me that phase 1 is complete. Was there anything else of noteworthy that was included in phase 1?
cowboy
Everyone just take a deep breath, go in their bathrooms and look into the mirror. There you will see...the buyer.
I "might" buy back in only if the buyer is announced and the LOI is extended, and the buyer can be verified.
I was a shareholder through yesterday, but dumped my shares. You just have to take a step back and look at this company from a distance.
Is it a company...yes.
Does THRR have a building...yes.
Employees...yes, a few. It seems that they would probably need more if they had the revenues that were projected April 09.
Does it have revenues...based on last years PR's - yes (albeit very little).
Is it growing...??? There have been no announcements of major contracts / orders, only future potential revenues.
And now, out of nowhere comes an announcement of a potential buyer. Do they have a contract...yes, a LOI, however, it expired last night (April 30th). So, technically there is not a current contract on file. And here again, why would the buyer agree to have their name announced but not yet agree to the extension?
This just doesn't add up as a legitmate buyout offer.
This is old news from early last year and its a "Pipe-dream." Alot of these pinkies announce huge potential revenues / earnings if what they say happens. However, it generally never materializes. There have been no announcements of large contracts or orders, other than the $25k order. If THRR's business is so attractive, then why don't they have some significant orders to announce? Here again, I believe this all to be a "Pipe-dream."
Either we are going to miss out an opportunity of a lifetime or our fellow IHUB'ers are going to wake up to a nightmare on Tuesday.
Sometimes our own greed blinds us to the reality of things. At the same time, our scepticism sometimes prevents us from dreaming dreams. Sometimes we read to much into PR's and other times we don't read enough. When is enough...enough???
I would just like to point out the following issue I have with the last PR...THRR requests a 2-week extension "until the buyer either rejects the request to extend the sale or the sale concludes with the company being acquired." The original LOI expired last night and there was no extension announced. I guess they could come out now and announce that the buyer has agreed to the extension, but still there hasn't been one announced. I fear that the SH's are being strung along so that THRR can raise more funds. Come Tuesday, I believe that THRR will announce that the buyer declined to give the extension (albeit 5-days after the expiration of the LOI) and releasing their name serves no purpose. If the buyer agreed on April 30th to have their name announced on May 5th, then why didn't they also agree to the extension. This just doesn't make sense to me. GLTA
What really gets me is that in this specific case, the buyer is allowing the company to issue additional shares after the announcement. Typically there would be a freeze on any new stock issues. How many buyouts have you seen in which the buyer allows the company to issue additional shares after the announcement?
cowboy
I heard that. I wasn't born in Texas, but I sure got here as soon as I could ('68) and have no plans of leaving.
cowboy
I heard that (about Proctologists). Better make your appt quick cause the lines will be growing now that Obamacare has passed. The taxpayers have gotten the 'shaft' and need to have it surgically removed. lol
cowboy
Hey Dog, where do you think all the shareholder's money has gone to??? The Verde...Blade...? Of course not! Its all those trips to the plastic surgeon.
cowboy
thanks
Anyone have a L2? I'm to far behind on posts to see if a L2 has been posted recently.
Thanks.
I'm kind of sitting on the fence with this one. But what does concern me is the lack of information and the following sentence listed in the cc per your posting...
"Closing date will be April 30, 2010, after which letter of intent will be null and void."
My fear is that there will be no closing on the 30th and the offer will be "null and void" leaving the shareholders holding the bag.
cowboy