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Good point, Gecko. Deleting substantive, non-ToS violating posts *is* wrong, IMO.
The note in Quarterly Report you referenced says "The Company's Accounts Receivable are net of the allowance for doubtful accounts". So it would look like they took them into account already. Are you saying since there is nothing on the "Expense" side that "doubtful accounts" are not being properly accounted for accoridng to GAAP? Where exactly should this expense appear?
What about Note:#2? Related Party Transactions - Notes Payable
The Company has received short term loans of operating funds. the notes are unsecured, non-interest bearing and due upon demand. The Company intends to repay the loans from the issuance of shares of it's common stock at a rate to be determined.
How do you think the SEC will view this note? PYPR has publicly stated their short term goal is to get to the OTCBB, which means their financial statements will have to be filed with the SEC (in other words, FULL DISCLOSURE). Q's don't have to be audited, but K's do. Maybe then we would see how they were (partially) funding operations. It's curious that this note is so vague: we borrowed money and will repay it with stock at an undetermined rate. Don't think that will pass with the SEC.
Banana: Read the share buyback PR carefully.
board of directors has authorized management, in its discretion, to purchase up to 1 Billion shares of PYPR common stock over the next 12 months
Just because the BoD authorized management to buy back shares, that doesn't mean they will.
And since there was a recent PR announcing this: the current tradable float in our best estimation is approximately 500 - 700 million shares according to the recent NOBO and DTC listings, one wonders who will they be buying shares back from. They certainly will not be buying on the open market from all the LONGS holding 10s of millions of shares, who are holding out for pennies.
The timing of this PR is somewhat suspect given the price drop yesterday, IMO. Saying SLJB scared the entire penny market also looks suspect. I hold several penny stocks that have traded BAU the last couple of days; several green yesterday, several green today. Caution is definately advised here.
4God: might seem that way to you.
Most paid pumpers think that way.
4God: Ah, ye olde "basher" claim again. LOL!!
Quite funny. But I guess everyone that's not a cheerleader or a LONG looking to get rich is one. Can the CEO claim that anything I've posted here is incorrect? Was yesterday's price action after great financial news a little unsettling? I'd say so. Has he filed any finacial statements with the SEC in an attempt to move this company to the OTCBB as he claimed? If not - when does he plan to begin because it can be a LONG process for the unprepared.
I like PYPR - great trading stock at the moment, hope it stays that way. Hope the LONGS make some good money too.
mastershake: Doesn't the CEO understand the concept of liquidity and what it means for his company's stock? A CEO using the word "flippers" is quite comical, sounds like he spends a lot of time on message boards.
Ask the CEO this: he stated publicly that he wants to move the stock to the OTCBB. When does he plan on filing all of the company's financial reports with the SEC? That includes all the reports from Ostrich and the other previous companies that used this shell. That is an OTCBB requirement, and it certainly will not happen overnight, or in a week, or in a month.
Pink: During those runs...
How many time did it drop 33% in one day after blockbuster financial report? I'd have to go back and look at a chart, but I'd say it rarely dropped 33% on a day with NO news let alone blockbuster news. This could be a sign to some that momentum is slowing down, so they take some profits now. They may want to get off the coaster now, the price action yesterday was pretty unsettling given the news.
Any trader that is "scared" right now is not an "intelligent" trader. This thing is still good for a couple more pops, even if the PPS dips a bit here. Averaging down, then unloading on a pop is almost a no-brainer here.
LOL MMKILLA!!!
I felt the price drop we experienced today was the perfect time to initiate our stock buyback program which will increase our loyal shareholders stock value at the expense of the daytrader flippers and shorters
This is a statement attributed to a CEO? LOL!! If this guy is concerned with "daytraders" and "flippers", he ain't worth squat! Every stock has them, they won't go away, they are part of the business and any CEO worth a damn knows this.
Pink: Maybe someone with a ton of shares obtained sub .001 is selling some at .006 after seeing the big drop. Never hurts to take a little profit off the table, especially if you feel the PPS may drop a little or if you feel the money will work better for you elsewhere ... likie flipping a PS/3 on eBay. LOL!
trading: they can buy at .006 and .0055 after dumping today at .0065 and .007. I'd expect they might hold off a little longer to see if it will hit .005 again after what happened yesterday. I thought PYPR would have some strong support at .0055, but yesterday showed that wasn't the case.
arkie: I didn't say it can't get to .01
The idea floated out there by tradingismylife was that day/swing traders were bailing because it didn't get to .01 today, which is nonsense.
No day/swing trader expected it to get anywhere near .01 today after yesterday's sell-off. I'd say anyone trading this bought some cheap yesterday at around .005 and sold at the open today at .0065 and .007.
Trading: Friday flippers waiting for lower PPS. Because they sold at .0065 and .007 this morning. No one in their right mind would expect this to get to .01 after the nosedive yesterday. But since TRADINGISYOURLIFE, you already knew that.
Scam: Dan is too busy trading PayPro. LOL! eom
just remember creppie,
no stock goes straight up. I'm also LONG here and am a little disturbed by the recent price activity given the reported 3rd quarter results. It's hard to fathom those results were already built into the price. We'll see what happens, but if the stock can't run a little and hold based on the news that just came out, something ain't right, IMO.
LOL creppie!!
Yes ... this stock is causing day/swing traders pain. Let's see: I bought Monday at .006 and sold at .007. I bought Tuesday at .006 and sold Wednesday at .0075. I bought more yesterday at .006 and .005 and sold today at .0065. My account must be masochistic because it LOVES this type of pain! LOL!!
ben: .0012 eom
looks like bensm5 bought cheap yesterday and is selling today.
Scam, OT
Yes ... sold the remainder of my trading position at the open at .0075 which was a sweet move. Bought some of those back at .006 which was not such a sweet move. LOL! Bought some more at .005 and plan on unloading them all today for small profit if it hits .006. Making some good money trading this right now: made 10% per day last week buying at .005 and selling at .0055 (missed the run to .0065 Friday by selling too early), nailed 16.67% Monday this week buying .006 and selling .007, bought Tuesday at .006 and sold Wednesday and Thursday at .0075 for 25% more. I was out Wednesday so I missed the move to .008 after they announced earnings It's my current ATM trading vehicle.
Still have 500k freebies from a couple of months ago when I bought at .0012 and sold half at .0024.
***UPDATE*** Just unloaded yesterday's buys at .0065 - 18% gain. Guess I should have held out for .007 as they are filling right now. LOL!!
scam: Care to share? eom
nose: Don't think the General has any control over Edgar. LOL!
The filing was made, it's now public, and it shows positive results compared to last year's third quarter. It looks to me the General's "general" observation of what it would show is pretty accurate, fourth quarter should look even better if they get this equipment out the door.
Also note the "over $2.5M in orders" statement ... right in line with what he told me.
My feeling is that we will have a more accurate picture of the company from this CEO and less pie-in-the-sky potential touting given to us by the previous CEO.
scam: I haven't spoken to Dan in a while .. were you able to get in touch with him?
VirTra Systems Announces Third Quarter Results
PR Newswire - November 16, 2006 15:45
HOUSTON, Nov 16, 2006 /PRNewswire-FirstCall via COMTEX/ -- VirTra Systems, Inc. (OTC Bulletin Board: VTSI) today announced unaudited results for the third quarter of its fiscal year ended September 30, 2006.
Total revenue reported for the third quarter was $462,921, up 66% compared to $279,619 for the same period one year ago. Net income for the quarter was $173,351, or $0.00 per share, up from a net loss of ($29,547), or $0.00 per share, for the third quarter of fiscal 2005.
Major General Perry V. Dalby (USA-Retired), VirTra Systems' chief executive officer, commented, "The improved performance this quarter reflects a significant increase in quarterly revenue plus benefits from the recent sale of our Phoenix facility.
"The company received its first order from the United States Marine Corps. The IVR(R) 4G-300 small arms training simulator has already been delivered and is pending final installation. In addition, VirTra Systems received another order from Mexico, making that country second only to the United States in IVR simulator installations, and an increasingly important customer.
"During the third quarter we completed sale of our Phoenix production facility and moved to our new Tempe, Arizona, location. The new facility has over 8,000 square feet of office and production space, an attractive product demonstration showroom, and is conveniently located within minutes of Phoenix Sky Harbor International Airport.
"Upon return from my duties in Iraq, I took over as the full-time chief executive officer of VirTra Systems in late August. The third quarter also saw Andrew Wells resign from the board of directors after years of dedicated service; subsequently, Major Frank Stanley (USA-Retired), and Michael Kitchen were named to the board.
"We expect this revenue improvement to continue after the majority of our recent sales this fall, now estimated at over $2.5 million, are reflected in subsequent filings," Dalby concluded.
About VirTra Systems
Utilizing patented technology, VirTra Systems sells situational awareness firearms training systems to military agencies such as the U.S. Army, Navy, Air Force, Marines, and Department of Defense, and to national and international law enforcement agencies. The company also produces multisensory promotional virtual reality systems and 3-D theaters for clients such as General Motors, Pennzoil, Red Baron(TM) Pizza, and the U.S. Army. For more information, visit http://www.virtra.com .
One of our most important responsibilities is to communicate with shareholders in an open and direct manner. Comments are based on current management expectations, and are considered "forward-looking statements," generally preceded by words such as "plans," "expects," "believes," "anticipates," or "intends." We cannot promise future returns. Our statements reflect our best judgment at the time they are issued, and we disclaim any obligation to update or alter forward-looking statements as the result of new information or future events. VirTra Systems urges investors to review the risks and uncertainties contained within its filings with the Securities and Exchange Commission.
Media Relations:
VirTra Systems, Inc.
Steve Haag, vice-president
of investor relations
Houston, Texas
(832) 242-1100
shaag@virtra.com
SOURCE VirTra Systems, Inc.
media relations, Steve Haag, vice-president of investor relations of VirTra Systems,
Inc., +1-832-242-1100, or shaag@virtra.com
http://www.virtra.com
Copyright (C) 2006 PR Newswire. All rights reserved
creppie: Haven't missed out.
I first bought in at .0012, sold half at .0024 and am content to ride free shares. I watched for awhile to get a feel for the trading pattern, started trading a separate batch last week, still hold my LONG shares. I just got back from some errands and saw the haircut today! Damn, looks like I reloaded too soon ... will have to average down if it drops much lower.
I suppose had I got in at .0001 I might have missed a big run at some point, I haven't looked at a chart to see if there were any pull backs as this ascended to .001. I know after I sold half at .0024 it ran to .004-something, then pulled back to .0021 before starting its next climb. That could be what's happening now as we are down 33% from today's high.
creppir: who needs a chart?
You sell a new high, then get back in on a dip. That happens quite frequently on this stock. The LONGS here were giving me crap over this strategy two weeks ago when I posted it, yet I am up almost 100% in less than two weeks. The comic relief here when they post "the flippers just don't understand" makes it even more fun. LOL!!!
Congrats to the LONGS who got in here sub .001 ans till hold. Remember - manage your risk and take some profits while they are there.
creppie: What stress?
Flipping this one is EASY. 50%+ made last week buying at .005 and selling at .0055 or more daily. This week, almost up another 50% (Monday buy .006 sell .007, Tuesday buy .006 and sell .0075 yesterday, back in at .006 today). Gotta thank all the LONGS for holding on and dreaming of big $$$, it allows me to make these easy dollars. Up almost 100% in less than two weeks and back in for more with no fear of missing ANYTHING. nice.... nice...
LOL makin-dough
People flipping the stock here are making a killing while the ones holding slowly inch up. People who excel at logic/math are selling and buying cheaper.
One has to wonder as to why the PPS hasn't gone significantly higher on what appears to be blockbuster financial results. Maybe the promoters are done here and looking for the next 10-bagger.
fool: The report was due yesterday, 45 days from the close of the quarter. GD told me it was being filed yesterday.
thomas: no connection.
He heard of an upcoming stock promotion from someone. Also heard the same about another stock when it was .12, said it would be $1 in three months. It's now at $1.25 and supposedly headed to between $2 - $3. I think he heard this from guy running otcbargains.
thomas: what took you so long to get in? Didn't Dan give this to you at .001?
Scam: Famous last words! Before you know it, we'll be down to .012 again. LOL!
RoseBowl: I think the General made mention of these additional sales in the CC, he did not tell me who the sales were made to or what was sold. He also said the financial results would be "positive news" without giving specific numbers. Since they are coming out today and the meeting isn't until 11/27, I'll have plenty of time to decide for myself. I would not consider anything he told me "inside" information. His numbers were "approximate", including the ~40M shares needed to cover debts and purchase inventory.
He did not tell me of any possible "company-changing deal" in the future, unlike some other carrot-dangling CEO I knew.
Franz: I spoke to the General yesterday.
He got my number from the CC list and called, spoke to him for about 1/2 hour. I'll post more later as I am short on time, but here's some quick info:
-Financials will be out today, he said they should be very positive.
-A couple more sales have occurred which brings the revenue of recent sales to $3M. PRs to come later...
-Shares held in street name will be voted yes.
-No R/S plan has been discussed by BoD if proxy vote is a NO.
-Was confident he could make some phone calls and sell RESTRICTED shares in private placements (assuming proxy passes).
-Yet another take on what happened with KJ and his resignation, seems you'll get a different story depending on who you're talking to.
-Virtra NOT attending show in Orlando next month.
laptop: Who got left in the dust?
Still holding my freebies. BTW, Daily "flippers" up at least 40% since Monday .. LONGS up 18%. Want some more cheese? LOL!!
stocklobster: why is that ubelievable?
More money changes hands in GOOG in about 5 seconds.
want some cheese with that whine?
Pardon me, but a flipper isn't concerned about the long run. Looks like the flippers are having their way this week with 10% gain opportunities daily. Good for them...
sbc: I don't hold a lot and I've got time.
Many here have been around for several years, I've only been around two - three. I have spent that time trying to lower my average PPS by selling spikes and buying back on dips. There was actually a time where I was completely out for a small profit, but then I jumped back in believing the "company changing" deal might actually happen. Averaging down has been pretty tough to do lately, the recent run to .12 helped a bit, but at this PPS, I'm still in a small hole. But again, I'm sure I have a lot less tied up in this than several here.
If this proxy passes, I think there will be many months of "work" trading for me to be profitable. Then I'd have to evaluate how the General has performed and how the shares are being used.
I heard most of the CC, had to leave before the Q&A was over, but if I recall correctly, the General said he would TRY to sell restricted shares in private placements. No guarantee that would happen, unloading ~40M FREE-TRADING shares in private placements will probably be quite challenging. Then there is the issue of what PPS those shares get sold at, they are usually sold at discount to current PPS and sometimes that discount is substantial. If the situation is as grim as the General has painted it, and as many on this board think it is, we could be looking at a lot more than 40M shares sold at a very low price. Having to sell them QUICK obviously doesn't work in the company's favor, either. I think we would have a chance at a higher PPS, enabling shares to be put in private placements at a higher PPS (resulting in less shares being sold), if the A/S wasn't being maxed to 500M. But that's just my opinion. My experiences with companies raising the A/S 400% has always been to get out ASAP, those companies never again reached the PPS they were at when they announced the intent to raise the authorized. VTSI may be different, hopefully it is for all of us. Of course, I can go to about every message board on iHub or RB and find people saying "but this company is different". LOL!!
Quintek Closes New Business within Government Sector
Business Wire - November 09, 2006 10:42
A Company Increases Focus to Provide Services to Government Agencies
HUNTINGTON BEACH, Calif., Nov 09, 2006 (BUSINESS WIRE) -- Quintek Technologies, Inc. (OTCBB:QTEK), a global provider of Business Process Outsourcing (BPO) and best-of-breed technology consulting services, today announced it has increased its sales and marketing focus to include state, local and federal government agencies.
In October, the Company named Nick Hare, former City of Santa Monica, CA Superintendent of Santa Monica, California Municipal Solid Waste (MSW) division, as Director of Government Services. Hare will be leading Quintek's efforts in procuring government services contracts.
Quintek recently closed and began providing ongoing services in Los Angeles County for one Department. Additionally, in the past year the company provided services for the Los Angeles Department of Water and Power and is currently pursuing other business in state and local agencies. Quintek has identified other work in various government agencies and is currently awaiting final decision from one agency. The company sees the Government sector and an area of growth as increasing efficiencies and streamlining initiative are put in place and need for relevant and timely access to information grows.
Robert Steele, Quintek CEO stated that, "The services the Company provides can help to streamline efficiencies within governmental agencies. The net effect can be improved levels of service and cost savings to taxpayers." He continued, "Cost savings within government agencies will result in allowing for funds to be budgeted away from process oriented internal services that Quintek can provide and shifted back to valuable services that can improve the lives of taxpayers and residents."
About Quintek Technologies, Inc.
Quintek Technologies, Inc. (OTC BB:QTEK.OB), through its wholly owned subsidiaries Quintek Services, Inc. (QSI), and Sapphire Consulting Services, Inc., provides services to enable Fortune 500 and Global 2000 corporations to reduce costs and maximize revenues.
QSI delivers Business Process Outsourcing (BPO) services and solutions that enable companies to secure and manage their key data processing demands with optimal efficiency and minimal costs. As a next-generation technology company, Quintek is unhindered by outdated information technology systems, and thus is able to deploy best-of-breed solutions in all aspects of BPO. Forester Research, Inc estimates that the market for BPO services will grow from $19 billion in 2004 to $146 billion in 2008. Business Insights estimated the BPO market as the fastest growing area of the IT services sector. Growing at 8% annually it is expected to grow from $112.1 billion in 2005 to $144 billion in 2008.
Sapphire Consulting Services, Inc. offers a broad range of supply chain management consulting services. Sapphire assists organizations to create a higher level of customer satisfaction, enhance supply chain capability and achieve consistent competitive advantage through reduced product cost, reduced inventory investment and improved supply chain security. A study by IDC found the SCM services market will expand from $26.1 billion in 2002 to $40.5 billion in 2007, representing a five-year compound annual growth rate (CAGR) of 9.2%
For more information, visit http://www.quintek.com.
This press release contains forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the ``Exchange Act''), including statements regarding potential sales, the success of the company's business, as well as statements that include the word ``believe'' or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Quintek to differ materially from those implied or expressed by such forward-looking statements. Such factors include, among others, the risk factors included in Quintek's Annual Report on Form 10-KSB for the fiscal year ended June 30, 2006 and any subsequent reports filed with the SEC under the Exchange Act. This press release speaks as of the date first set forth above and Quintek assumes no responsibility to update the information included herein for events occurring after the date hereof. Actual results could differ materially from those anticipated due to factors such as the lack of capital, inability to timely develop of products or services, inability to deliver products or services when ordered, inability of potential customers to pay for ordered products or services, and political and economic risks inherent in domestic and international trade.
SOURCE: Quintek Technologies, Inc.
Quintek Technologies, Inc.
Andrew Haag
Chief Financial Officer
714-848-7741, Ext. 14
ahaag@quintek.com
or
Communications:
Cinapsys, Inc.
Mark Moline, 949-497-6684
mark@cinapsys.com
Copyright Business Wire 2006
Lortap: $1 mark?
I thought he told you $0.01 short term (three months - from late September) and $0.04 longer term
Disagree Felix:
Voting "no" is like kneeling down.
Voting no is telling the BoD that they don't need 500M shares authorized to run Virtra successfully. I think the General knows, given sentiments expressed on this board and the CC, that many more shareholders would be more likely to vote YES if the number on the proxy was 200M or 300M.
This proxy is not do-or-die for the future, IMO. If the vote is close and it fails, they can file another proxy with a lower A/S and it will most likely pass. That will get the General his ~40M to retire debt, get product out the door and enable VTSI to continue selling more simulators. I also think a NO vote would raise the PPS, especially if a new proxy with a lower A/S is drawn up quickly and sales keep moving along the way they have been recently. Then it may be possible for the General to get rid of this debt with less than 40M shares.
Again, all my opinion.
Felix: Are you saying EGGMAN's theory is not possible? In light of the recent lawsuit by KJ, one has to wonder.
Felix, Even a bigger question:
With Democrats taking over the House and most likely the Senate, how does that look for Virtra? Democrats and military spending don't necessarily get along.