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On Etrade it shows the insiders own 58 million shares total. I have to believe shareholders are safe 6/14/10 They were buying more in June 2010
Taylor Stephen S
Beneficial Owner of more ... Purchase 393,500 0.200 – 0.220 13,168,300 $81.3 K
6/10/10 Taylor Stephen S
Beneficial Owner of more ... Purchase 681,250 0.080 – 0.100 12,774,800 $60.8 K
That is what I'm thinking! But you never know what to expect any more.
These guys own too much stock to screw themselves don't you think
You need to read this
Letters To Leaders
All messages are published with permission of the sender. The general topic of this message is Courts/Judiciary:
Subject:
RH Donnelley
To:
Sen. Max Baucus
October 15, 2009
Every day we hear about proposed caps on CEO pay, and new regulations to make sure companies are not rewarded for failure. Nowhere is failure being more greatly rewarded than in the United States bankruptcy system. R.H. Donnelley, one of the largest yellow page companies in America, declared bankruptcy earlier this year. The Company had over $500,000,000 of cash on hand when it declared bankruptcy and has generated positive cash from operations every month since declaring bankruptcy. R.H. Donnelley had no debt coming due in 2009, and received an unqualified opinion, a clean bill of health, from KPMG during its audit. The Company is projected to make hundreds of millions of dollars in cash from operations in 2009 and will have an estimated EBITDA of $1 billion dollars. This information is all publicly available in R.H. Donnelley's SEC and bankruptcy filings.
Why did R.H. Donnelley fail when shareholders were against the bankruptcy? There is one simple reason: The CEO will make more money bankrupting the company than keeping it alive. It takes a year or more for shareholders to elect new board members who in turn elect the CEO. As a result, when the CEO and board of a company feel threatened they may lose their jobs; they can wipe out current equity at any time regardless of the company's financial condition by declaring bankruptcy. David Swanson, R.H. Donnelley's CEO, cut a deal with bondholders to keep his job and have management acquire a 10% stake of the Company when it emerges from bankruptcy. Management had approximately 1% of the shares before bankruptcy. Equity was destroyed before the shareholders could have the CEO or the board members removed. The Company has wiped out six billion dollars of debt through the bankruptcy process and significantly lowered its debt service payments. A conservative valuation puts Management's 10% stake at a couple hundred million dollars. The stake could be worth considerably more if the economy recovers over the next few years. I believe this is a clear breach of management's fiduciary duty to stockholders.
This bankruptcy certainly did not need to happen. The debt markets, which were locked up for the better part of two years, have thawed in the last few months. The company generated over $100 million of cash flow in the latest quarter according to the latest 10-Q and could have used this money to pay down debt. There were dozens of other options besides bankruptcy that would have protected the interest of equity, but none of these other options would catapult David Swanson into the legions of the super rich. The worst part is that the U.S. Bankruptcy Court and the U.S. Trustee allowed this to travesty to occur. The watchdogs are allowing this to happen, and encouraging corporate behavior that is harmful to all Americans.
This is not to say the Company did not have problems. R.H. Donnelley had a lot of debt because of a slew of acquisitions it made over the last decade. David Swanson orchestrated the acquisitions and the board of directors, Barry Williams, Edwina Woodbury, Thayer Bigelow, Robert Kamerschen, Alan Schultz, Michael Connors, Ronald Rittenmeyer, David Veit, Thomas Reddin and Nancy Cooper, approved of the Company's business strategy and acquisition binge. The problems that the Company had were the direct result of inept management. Management should be removed as a consequence of poor decision-making, not rewarded and supported by U.S. bankruptcy courts. The current corporate governance system rewards failure. R.H. Donnelley sold a billion dollars in bonds last year and made only one interest payment before voluntarily defaulting on its debt. One can only wonder what would happen if a homeowner walked away from their mortgage after one payment. Would the homeowner be rewarded in the same manner? The Company's actions not only negatively impacted the equity holders and bond holders, but also Company employees who put in years of sacrifice to make the Company a success and the retirees counting on a pension. Many stockholders were also the Company's employees and retirees. These people were doubly hurt by the bankruptcy. The CEO and board of directors must be removed upon the failure of a company rather than be rewarded with hundreds of millions of dollars. This is what happens when banking institutions are taken over by the FDIC, and it should be what happens when any public company fails. Management must be held accountable for its actions.
There are three major problems with allowing a company that is still able to service its debt and generate positive cash flow to voluntarily enter bankruptcy. The first is the tremendous human cost to all the workers; retirees and investors who had believed their contracts would be honored. The second problem is that allowing solvent companies to declare bankruptcy raises the cost of capital for all companies. If a company that can pay its debt is allowed to enter bankruptcy, then investors will require a higher interest rate due to the increased risk of all companies defaulting. This will make it harder for companies to undertake new projects and reduce corporate profits. Fewer projects will be profitable for companies, and hiring will suffer as a result. It will mean fewer jobs in America. Finally, it will create a major incentive for other companies to follow suit. If one major company is allowed to file bankruptcy, that company has a tremendous cost advantage over its competitors. The company can under-price the competition and win new business. The companies that declared bankruptcy will be able to earn more money than competitors. Companies unencumbered by debt and legacy costs will use these earnings to expand. This will force other companies in the industry to declare bankruptcy to compete. This will harm all stakeholders and further reduce the returns for investors like pension funds, endowments, insurance companies, banks and individuals. It will again cause the cost of capital to rise further for all companies, and further reduce employment.
Congress needs to address corporate governance immediately to make sure the failures of the last few years are not repeated. Bankrupting a company should be a last resort for a company, not a winning Powerball ticket for the CEO. The current system is not only encouraging risky behavior; it is actually encouraging corporations to default on their debt. The human cost is too high to allow this to continue. We must act now to make sure failure is no longer rewarded in bankruptcy.
Sincerely,
Thomas Ryan
CEO Doddsville Investments
Largest Shareholder of R. H. Donnelley
South Miami , FL
These thieves are asking
Nothing from nothing leaves nothing. But you gotta have something if you want to dance with me.
Owning 7 million in shares in HTOG is like owning 7 million pounds of Sh*t
You just figured this out!LOL
You put that well Fatboy
Everyone here has followed this to the basement not realizing that the people running this UPDV HTOG CNFU are not being honest with the stock holders. Everyone here had hopes of making the big profits that sometimes happens with penny stocks. And I actually believed that these guys at UPDV and HTOG were telling the truth with their PR's
Do I feel stupid, NO! I always try to give people the benefit of the doubt. This sometimes blows up in your face but most of the time people can be trusted at their word.
The good news is there are so many stocks out there now that are close to penny stocks. DAN,FNM,FRE, These are stocks that one day will bring a good profit. IMHO
XOM is not interested in HTOG or UPDV
Hey Luke
You have some good points I also have averaged down but if the stock continues down there comes a time to get out or hold on for a long time. And how much you want to trust to these idiots running HTOG.
The problem with averaging down is as you know it can become worthless with a bunch of jokers at the wheel as we have seen running the business! I don't want to own 2 mil. shares worth $200.00
Another idea is you can put most of your money else where and hope to recoup your money in the mean time while keeping a small amount with HTOG and keep an eye on it till it turns thing around. This is what I have done. I just don't like the way that the MM's are screwing with this stock.
Unless you are willing to buy and sell on a daily basis this stock is not worth watching daily.
Happy Holidays
Good morning LUKE
I think we have hit bottom at this point (i hope) Anyways the biggest problem is the price of natural gas. I really believe that is why we are not hearing anything at this point.
I have shares in EL Paso gas(EP) and the shares are about where they were when I bought them over a month ago,there is also a huge supply of natural gas at this point along with a mild winter. Be prepared to hold long unless you believe XOM is interested in HTOGE,if this is true we will all have a party! LOL
Pop like a hot air balloon and we know what happens when that happens Everyone crashes to the ground! LOL The director sold his shares in Sept. doesn't that tell you something. I just trying to keep things in perspective. There is something in the works to keep this stock up but it is not enough volume to keep it up. Be careful with this one!
your not wrong camco
They don't give a $hit about you me or anyone else but themselves. These idiots can't even file their 10Q's on time how can we expect them to find gas! Now that gas prices have gone down and will continue to go down the miniscule amount of gas they will produce will not pay for the drilling. I hope they get what they deserve and lose their asses with this venture.
yeah we are all interested so tell us where is the proof!
Congrats Salmon
You now have spent only $58,013.36 on $22,700.88 worth of stock! LOL. Hey I'm only kidding were all in the same boat.
I would like to take the time to thank Jack and Kamal for doing such a bang up job for all of us. We couldn't have done it with out their help. And all their hard work getting all of the 10Q's done on time, and also for the very timely PR
GREAT JOB GUYS!!!!!!
Good morning Jack Baker
Me and the rest of the stock holders of HTOG and UPDV would like to thank you and Kamal for your diligence on making sure to file the 10Q's and keeping all of us updated on the progress of the companies,I want you two to know we really do appreciate it. You and Kamal have really done a bang up job!
Thanks again Jack and Kamal
Hey titonick
That sounds incorrect I see .0025 and .0026 anyways. They have been doing the same with UPDV and it has stopped at this point but they ran up the price with no news and not that much volume. Updv has dropped .0007 today and probably will continue down unless you are right and there is something we don't know. I emailed Jack today,both my questions were simple were they going to file a 10Q on time and were they still in a quiet period. I received no response!
But my guess is there is nothing to know other that they have still not figured out how to file a 10Q on time!
Hey shawnobe
NITE has been playing this like a banjo for over a year. They are the #1 trader and have traded over a billion and a half shares over the last year on HTOG,UPDV and many more penny stocks. That is all they do buy and sell they are probably making a lot of peoples lives miserable!
I'll trade you for some UPDV LOL
THE PROBLEM IS NOT THE COMPANIES FAULT! IT IS THESE POS TRADERS RUNNING UP THE PRICE FOR NO REASON OTHER THAN MAKING MONEY OFF OF PEOPLE. IT IS THE SAME TRADERS DAY AFTER DAY FOR CRYING OUT LOUD.
THE OTHER PROBLEM IS THE DUMB TRADERS THINKING THIS POS COMPANY IS GOING SOMEWHERE WITHOUT SOME NEWS!
EVERYBODY NEEDS TO GROW UP AND QUIT EXPECTING THIS COMPANY TO CHANGE THEIR WAYS. THAT IS NOT GOING TO HAPPEN!
Thanks winsto
If anyone does a little reading on this company they have been on TV and magazines both because of their innovations in their market. They will use this patent and really grow or they will be bought out by someone who sees they future in their technology. IMHO
Anyone want some shares of this POS LOL Everyone buckle up were going down!
It seems to me that with only 24 mil. shares this stock would be trading at a higher price than this. They seem to have a good thing going. Raising the fish in a patented clean environment and selling the waste of the fish. That my friend is a clean operation. My guess is this stock with a little interest should go somewhere soon.
Hey titonick
Your right we should not expect much from these guys running the company they can't even get a 10Q done how can we expect them to find gas. LOL I also think you are right it probably will jump if there is any good news. The only problem is every long will jump ship if it ever hits .02 and that will be it for the P/S I'm afraid unless they can show people that they care about simple things like timely 10Q's and honest updates that are not copies of old updates with a twist like the last few!
Need this to hit .02 to break even. I'm glad I did not buy it when it was.50 like some of the real longs. My guess is we will be lucky to see this hit .005 again let alone .02
you are a smart person
your joking right
Hey Gold
I just can't figure if it is dilution or what. There is not enough shares being traded for a good climb. Do people actually buy without news just because it is going up.
I still own a million shares of HTOG sold the other 4 mil.and moved it to El Paso EP for a little more stability. Still hanging on to 1 mill for the news of the century! See everyone in Las Vegas LOL
We all do have you been watching UPDV someone is going to lose their a$$ on that one if they are not careful I can't figure out what is going on there is no news and it has caught HTOG some body is going to lose. IMO
Hope I'm wrong
I have asked Jack when the quiet period will end he said I DON'T KNOW. You can read a couple of things into this,
1 He is full of you know what
2 He is not able to tell
3 He really doesn't know
4 He doesn't care
5 They are being bought out by a bigger company
My guess is 1 through 4
Hope you are right this company needs to raise it's value to stay on NASDAQ. I'll be watching in the morning
Besides the fact that natural gas prices are low, companies with good credit are having a hard time getting loans let alone companies upside down. And then there is the continued failure to file quarterlies on time! These are not qualities companies look for in a possible acquisition.
Again I hope I am wrong being as I hold quite a bit of shares!
There is nothing in the works Every time I ask for proof nobody ever answers. Believe me when someone has some proof they will post it for everyone to see!
That is my concern also UPDV going up for no apperant reason is a little scary to say the least. I would jump in if I could see a reason to. I have read some bull about a deal with CONOCO and UPDV in the works but I have seen no proof and have a hard time believing it to be true.
I would be careful. As you said it is nice to see interest but the interest could be a few trying to run up the price. There has not been a good reason for the renewed interest and the total shares traded are not that many at this price. The 10Q is due the 15th of November. And they are under a quiet period probably until then. I would keep a close watch.
I also believe that the managements making the right decisions with this company it could go far but that has not been the history so far. I still own my shares of HTOG but have sold my shares of UPDV I hope I'm wrong and others that have kept their shares in UPDV are right. Good luck to all!
Have no idea what NDA is could you elaborate please Thank's
you may be right
Well it is a slap on the wrist for something. Do you think it has something to do with streching the truth on HTOG PR's or something to do with UPDV's filings. he would not say.
Hey Goldbrick
Good for you I sold my shares in Updv but I still have my shares in HTOG, anyways my question is I emailed Jack with questions and his reply was they are in a "quiet period". This is the definition.
In terms of an IPO, the period where an issuer is subject to a SEC ban on promotional publicity. The quiet period usually lasts either 40 or 90 days from the IPO.
What is your take on this!
I hope your right we have taken quite a beating here it would be great news!