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LGL, got the info thanks. I've heard bits and pieces about this LLC Bill Gray is putting together, and parts of it does make sense. Based on the stock price, it appears they are having trouble raising funds / assets. Why anyone would put cash into this thing in exchange for warrants is beyond me. Plus, this whole thing has to be done very quickly, because the warrants are exercisable in 6 months, so if it drags on, people will exercise the warrants, sell the stock (at what ever price), and further kill the price per share.
And maybe someone can explain to me how this is going to reduce the number of outstanding shares, which they are touting big-time. The shares to cover the warrants have to come from somewhere, probably the same magic printing press Jerry used.....
Is there a letter out there you can post for the rest of us?
Were you expecting someone to have criminal activity?
Check out info on the new CTO in the annual report, particularly his age and his current/last employment.
And considering they only have a couple thousand dollars on hand, I would hazzard a guess that any merger is either dead or on life support, as there is no way to currently pay for it.
In terms of antenna production, one word I wouldn't use is imminent. Unfortunately, we are still waiting on Waylinks to choose a new supplier for the major antenna component that went obsolete. Then, there will be development time, probably 6 to 10 weeks, then add a couple weeks for testing and verification. Suddenly that summer roll out date Jerry through out in his letter doesn't seem that far off base. Too bad no one can seem to light a fire under any of these guys.
As for the merger, who knows when that will happen or how they will pay for it. I guess we'll have to wait and see over the next weeks and months...... Still hopeful.
It's a nice dream, but you're missing one huge part of the equation. CCOP needs Waylinks, but Waylinks doesn't need CCOP.
You're right on. I really don't think he understands the damage he is inflicting on the investors or the company. If I were Waylinks, I would be worried that Jerry might take them down along with him, since he has 100% linked CCOP to the Waylinks antenna.
Bear
LGL, while I agree with you in principle, and share in your (any many others) frustration with CCOP, but how do you plan on pulling off a shareholders meetings or even getting a response from Jerry? In terms of all the shareholders, we are in the minority and have no real power. Jerry's got us held hostage, whether we like it or not. As for a coup attempt, it would only guarantee a permanent stock price of $0.00. I may be in the minority here, but I'm resigned to the fact that I'm stuck. As for the Jerry's "conflict of interest" you speak about, I knew about it going in, and don't have really have a problem with it (may be in the minority again). If they eventually get the antenna out, there will be money to be made on the antenna and CCOP, at least in theory.
If there is anybody here on this board who is on speaking terms with Jerry, maybe they can get him to say something (anything) of substance, but I'm not going to hold my breath.
Bear
I'd worry about everything in your E-Mail except FCC approval, which is a very easy test to pass. All the products the company I work for have to pass this.
Hence my confusion, because it was just over a year from the purchase date and it was not restricted.
You obviously know much more about this than I do. What I don’t understand is this. By the time I actually got all the certificates, one that had already passed the one year point had no legend on it. I had no trouble depositing that with Scottrade (my broker at the time). They wouldn’t touch the certificates with the legend, so that’s how I landed up at Schwab. So if they truly are restricted for two years, how did I get one free and clear after only one? I’m confused.
I opened the account with Schwab last December solely to get the shares tradeable. By early January it was all taken care of. They did tell me upfront they wouldn’t take care of it unless the certificates satisfied the 1-year requirement. I even waited for the last certificate to hit that point before undertaking this. Did you ask them why I was able to get it done and they won’t do it for you? Maybe they changed their policy since last December?
My account is in the 6 figure range only if you add in the decimal points…..
You're way ahead on me on how this actually works. I simply gave them the certificates that were all over a year old, filled out the forms (in triplicate), and 3 weeks later they showed up in my account as tradeable securities. They did not even bring up the two-year thing you describe.
It might just how you explained it to the customer service representative. I just told them I had certificates that were no longer restricted, wanted to remove the legend, and deposit them in my new account. I'll check and see if I have any of my old E-Mails with them documenting this. If I find anything, I'll get back to you offline.
I have also heard the latest delays will take the launch towards year-end. Wonder if anybody has gotten Jerry to actually confirm that....
That's basically the same thing they told me. My shares were all past the one year point and were no longer restricted. All they really had do to is remove the legend on the certificate. That's what they charged me $75 for. If you have a portfolio of 500K or better, they told me they will do it for free. Sorry if I sent you on a wild goose chase.
Wish I had more knowledge on the criteria the MM's use to manipulate the Bid and Ask. Any experts out there?
Like they would actually be putting out any news......
They will not put out any news until they are close to launching the antenna. JMHO
I was more impressed there were actual buyers out there.
Bear
Metro, I'm new to this posting thing. If you were worried about losing your source by putting them out in the public domain against their wishes, what would you do? I'm open to suggestions...
I will say this, it's not Jerry.
Thank you for the clarification. With their new gagdet, I just assumed they would be presenting. Maybe they're waiting until after the formal launch.
I should have written approximately 6 weeks, plus or minus a week, with the caveat no issues arise...... I have been promised an update in early October.
It's based on the number of items that need to be completed and the time frame associated with each. The main technical and manufacturing issues have already been addressed. It will be interesting to see how quickly they can ramp up production once they get all the pieces together.
I've been frustrated as much or more as anyone else on the board. I have just chosen to lay low. I was always taught, "If you don't have something nice to say......"
I've been wishing for more information coming from the company for two years now. Yes, it is frustrating. But I won't post anything negative until I give them a chance to get the antenna out there. Then there will be no more excuses. I've waited this long, another 6 weeks isn't going to make any difference.
BTW, Schwab took all my restricted certificates, got the legend removed and made them tradeable for a total of $75.
New to board. In case there is anyone in the Chicago area or will be next week, Waylinks will be at a Manufacturing and Technology show in Rosemont, Illinois, September 25-27. A chance to get your antenna questions answered.......