I think we will see some buying at some point. My guess is after the SHM. The restrictions on shares purchased with proximity to annual report and Q numbers has not allowed much time recently. Hopefully the execs are also restricted from buying now as they know of materially important contracts soon to be announced as well. Buying by company insiders while good to show support, to me means nothing material to be announced in next 30 days, so I hope they wait to buy. I would love for Rubikon or carlisle to announce a 5% stake that they have acquired in the company on the open market. Better yet as Mide pointed out on Rocky's board a while back for Dumas to exercise his options (even if out of the money) at 1.8 or so and keep them to give cash to the company and show a vote of confidence in the stock. I assume though that would also be prevented by the trading restrictions around earnings, etc as well.

Agreed. At the very least the articles depressed the stock price which harms the company as it uses shares as currency with vendors. A depressed share price means more shares need to be issued causing unnecessary dilution to the company and its shareholders. I think this argument needs to be included in any counter suit as well. All IMO.

You might want to get a copy of the written evidence and send it to GTE to include in any counter suit evidence they might be collecting.

Good points. However, I think an argument can be made that harm has come to the company, so forwarding everything to IR so they can send it around within GTE to help GTE with their response may be the best way to proceed. I believe this was also suggested by someone else on i-hub. The baseless lawsuit and ? the MF articles damage the reputation of GTE in a critical time as it negotiates it's first contracts IMO.

I agree he is a hero and arguably the best recognized name associated with GTE/Sanswire. As a well respected astronaut/pilot he has lots of name recognition in America. I even remember him a year or so ago on the Apprentice with Trump piloting the plane that creates the temporary weightless environment as a reward for the team. That was a cool segment and shows the respect he has around America.

If I were Huff, I would have the next significant Sanswire PR quote Searfoss with the new title of COB of Sanswire listed. I would wait to get the most PR affect with this and wait for some actual pictures and/or media coverage of a significant milestone like the rigid airship world record to make the most of this opportunity. I would think Searfoss would prefer this as well.

Awesome article! I now see the benefits of the travelex product even more after that explanation. I have some relatives travelling in Europe currently and they were complaining about all the service % fees if they use a credit card. This will be a great product for tourists.

I believe he is unable to purchase shares due to the proximity to Q1 results. I also hope he is prohibited from buying in the near future due to being too close to materially significant contract announcements he is privy to. I actually looked at Huff's purchases last summer as a sign that GTE didn't have any materially significant contracts to announce in the next 30 days, but did feel it was a good gesture to show support to the shareholders. I would actually be really happy if Dumas would exercise some options ( although these may have similar restrictions to above mentioned), even if out of the money, and not sell them as a sign to the investment community he believes in GTE. I believe I have seen others post this wish as well.

Good News! I suspect he is here to work on the S3 and modifications for individual customers based the Bob Jones quote in the PR. I think it is impressive getting someone of his background and experirnce to join the team and hope it means we ahve progressed well with s2 and it's technology testing to convince him to join the sanwire team. Any other thoughts?

I believe the company has 4 business days to come up with an 8-k regarding an event like the default notice. So today's PR and likely soon to be filed 8-k are within that time frame.

Ask what percentage the attorneys would take of any settlement. I believe the attorney portion is typically over 50% once all the expenses and such are added up. The class action will be tough to get through though as per the March 26 Supreme Court ruling I listed in a previous post last night. I think they are looking for a lead plaintiff who has a large amount of shares and several others with large amounts to be a part of it, but not try for class action status due to that recent Supreme Court ruling. All Huff has to do is get the international law firm they are working on to verify the contract and the case should not be able to proceed. An 8-k was filed with the SEC, so if Huff and GTE hypothetically did make all this up he would have more trouble (ie. Ken Lay and Skilling trouble) than a shareholder lawsuit. There is no way IMO this was all fabricated, Huff wouldn't jeopardize his future on a 'scam' like this.

They should countersue. Even if they don't a recent Supreme Court ruling has made these class action suits even more difficult to move forward. See link in post below.

http://www.investorshub.com/boards/read_msg.asp?message_id=10876221

Important recent Supreme Court ruling on these types of suits. Especially look at the "Key Impacts" section of this article. Again I think the short term movement of GTE share price will be a drastic move down , but that is an extreme overreaction IMO.

http://www.wrf.com/publication.cfm?publication_id=12546

Will hurt share price short term and expect other 'follow-on' lawsuits. The company likely has insurance for this though. The case will have no legs if the Russian deal is ever completed IMO as the issue in the PR is the 'sham' russian deal. I have seen this happen to many companies before, rarely any long term harm. There has also been some recent legislation that makes it more difficult for these cases to get class action status as I recall. I think it was a Supreme Court decision in feb. or march.

That would make sense from a stock buyback perspective as well. Why create buyer mo mo, during a planned stock buyback period for the company that ends at month's end IMO.

Sure looks like #2 and that the PP participants shorted ahead of the deal their alottment of shares to double dip. My guess is we don't leave the sho list until after a PP is announced. IMO. Long term it won't be a big deal if GTE really has the goods and can produce meaningful revenue and complete a contract or two.

Kind of like Pepsi with YUM a few years ago when they spun off their taco bell, pizza hut, and kfc business units. That would be cool and hope I see it as a shareholder.

Sounds logical. I recall in a shareholder letter last year from from Huff (although I am unable to find the exact quote currently, thought it was in the August shareholder letter) where he stated something to the affect of the military strat would fund the commercial strat development. This seems like a good plan as the biggest money appears to be with the commercial strat long term.

Huff adressed the naked shorting last year in a PR and appeared to be successful as there was a price increase the next few weeks as GTE got off the sho list. Looks like he should do the same thing again. When the company uses it's stock as currency to pay vendors, this low manipulated share price hurts us all IMO.

Do you think this is naked shorting? Do you think the company can do anything about the naked shorting? Seems if Huff wants a materially significant pps increase, the naked shorting will have to be addressed IMO.

I like your idea and hope it's true. Personally I would be ecstatic if the SHM was moved up for the purpose of having everyone together for the rigid airship world altitude record. I think the altitude record is the more likely reason to move the SHM up.

The Disney service on the Sprint network doesn't go into affect until June. The description of services looks to my non-tech eye like an Actsoft possible use.

Could Actsoft or HISC be a part of this new Srint/Nextel offering?

http://news.yahoo.com/s/nm/20060413/bs_nm/telecoms_sprint_location_dc

GTE and other victims need to sue the brokerages that facilitate it. Right now the brokerages have no incentive to stop the naked shorting as they make transaction fees. If they had a financial consequence i think it would have some teeth IMO. I also believe tracking down indiviual culprits is futile as it is likely done with off shore accounts.

Let's hope many of the 100 million plus shorted shares are naked shorts. A dividend is a way for them to be forced to cover as all the certificates will need to be accounted for before distribution. I wonder if this is one of the things Frank had in my mind to help shareholder value? Enjoy the board. Have been a lurker for over a year. GLTA

Unfortunately, GTE may not be able to issue a PR currently. If a Private Placement is near as Mide posted (and I agree) we may be in a quiet period. The PP 'investors' may also be naked shorting shares they don't have yet to 'double dip' on their investment (hence GTE on the sho list the past 2 weeks). They know they can cover the shorting they are doing now with the PP shares they will receive (possibly issued at a lower price due to the manipulation) and keep the warrants as potential profit makers if GTE succeeds with it's plans. I have seen this done several times with companies during their 'start-up' phase. Most recently twice in the last 12 months with ZIXI. All IMO.

My stealth candidate for COB would be a senior executive from a hopefully soon to be announced senior executive from a stategic partner for the strat. It would lend credability to the company and the strat project. Candidates IMO would be execs from Boeing, LMT, or GD. An executive from a well respected summit participant like Booz Allen or Intel would also be cool, IMO.

I agree the timing is supect. If he doesn't step down until mid March why make the PR now. I would think it would be better to wait until a quality replacement can be aanounced at the same time, or until investors aren't on edge over Russian deal falling through. My optomistic side though says this is a trap for shorters and flippers and before the long weekend (as no trading Mon) is over we get a nice PR to start the rise in PPS never to look back. Looks like we all have to wait and see. Come on Huff, don't give the people with agendas any more ammo.

Perhaps they will be there through some yet unannounced partner? Just a thought, as I too recall pics of strat etc. that Sanswired took in the entry way leading into the fall show. What better forum than the show to demo the start being tested and sending the communications to the show. Wouldn't Edwards Air Force Base be close enough to vegas to transmit communications? Unless we are behind schedule and will do this at the fall telcom show.

I thought same thing regarding today's PR and the PR last Friday responding to the MF article. If this deal doesn't go through or is re-negotiated I would expect a large suit against the MF and their publisher IMO for the damages. The law firm mentioned in the PR today may be there for more than one purpose IMO. I hope they consider that as I suspect the MF and Seth are typing their next follow-up bash GTE article as we speak.

Nice HAA article. Interesting blog discussion below article in link on rigid airship need as well.

http://www.defensetech.org/archives/002088.html

"Adm. Fallon called for persitent surveillance technologies to fight terrorists "we need to be able to look at areas that are suspect. Wait these bad guys out, and then [deal with] them when they pop out," he emphasized."

Sounds like a great application for the strat.

Later on a panelist asked industry what they are going to do for IEDs. I was wondering if a smaller ROA (like a small skydragon) could fly over convoy paths just before convoys and transmit out on all the frequencies the remote radio controlled detonators would potentially operate on and detonate all the IEDs before our troops passed. I guess there are too many convoys and possible 'collateral' damage but wondered what the smart people on the ihub board thought.

Article mentions HAA application

http://space.com/businesstechnology/060111_e-weapons.html

In a paragraph toward the bottom of article, "Space-based - even high-altitude airships equipped with relay mirrors - can direct ground-based or air-based laser beams nearly around the world, he said."

The miniature UAVs and the navy developers were prominently featured in the PBS NOVA program on UAVs tonight. Shows footage from these small UAVs and the bigger ones. Also showed footage from a UAV the border patrol is using, but didn't discuss name of UAV.

PBS NOVA program tonight on UAVs. Excellent show. Really shows the need for the low cost, great loiter ability strat and the Sky Dragon UAVs of GTE. IMO. No mention of either, but I couldn't help thinking of them watching the show.

I suspect you are right about a public showing probably early 2006. I still think it gets tested at altitude before year end. After the April fiasco, I suspect the next public Sanswire event won't be a 'test' but a 'demonstation' for the public and customers with their LOIs (that they then hopefully convert to contracts). IMO

I agree with you. I once read something to the affect that if someone's IQ varies by more than 20-30 points in either direction from you, you will have a tougher time conversing with them. Bob Jones is likely of genius level IQ and is use to conversing in scientific terms the rest of us would not understand. The uhhs and such are likely him pausing to 'translate' the descriptions into more commonly understood terms. IMO.

Very interesting background. Here is links to two recent companies where he held executive positions mentioned in the bio.

http://www.in-q-tel.org/

http://www.orbital.com/

Strat mention?

With credit to Stevo2000 on the yahoo board.

http://news.yahoo.com/s/nm/20051101/pl_nm/security_negroponte_dc

Excerpt last paragraph.
"Stopher also took issue with a DNI decision to do its own study of high altitude spy imagery systems rather than leaving the job to the agency which operates U.S. spy satellites"

DESC (our fuel cell supplier) has also had a nice run on no news of late. Interesting bits of circumstantial evidence for S2 news soon.