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Hello,
I am a share holder of this mess as well. I was doing some research and noticed a Mathew K Szot owned MSTF in 2007. I wanted to see if any connection with David Walters. Many of you may allready know the connection. Anyhow, I found this complaint:
http://www.faqs.org/sec-filings/110929/PINNACLE-ENERGY-CORP_10-Q.A/R14.htm
Jul. 31, 2011
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies Disclosure [Text Block] NOTE 8 - COMMITMENTS AND CONTINGENCIES
Consulting Agreements
The Company has entered into consulting agreements for services to be provided to the Company in the ordinary course of business. These agreements call for expense reimbursement and various payments upon performance of services.
Employment Agreements
On February 1, 2010, the Company entered into an Employment Agreement with William McKay. Under the agreement, Mr. McKay will receive a base salary of $180,000, plus an initial bonus of 1,200,000 shares of the Company’s common stock (to be issued in 300,000 share blocks on a quarterly basis). The initial term of the Employment Agreement expired on January 31, 2011 and automatically renewed for additional one-year term.
Legal Proceedings
On July 1, 2011, a Complaint was filed in the Superior Court of the State of California, in Orange County, California, by Trans-Pacific Aerospace Company, Inc. and one of our shareholders, Harbin Aerospace Company, LLC, against Monarch Bay Associates, LLC, a FINRA member firm, and certain of its officers, employees and affiliates, including David Walters, Keith Moore, Mathew Szot and Cardiff Partners, LLC (“Defendants”). The Complaint alleges that Monarch Bay Associates entered into investment banking agreements initially with Harbin Aerospace and then subsequently with Trans-Pacific Aerospace based upon certain misrepresentations and omissions of material fact by Monarch Bay and its principals, David Walters and Keith Moore. The Complaint further alleges that Monarch Bay, Walters, Moore and Szot breached their fiduciary duties owed to Trans-Pacific Aerospace and Harbin Aerospace and otherwise engaged in acts of securities and common law fraud, professional negligence and unlawful practices under the California Business and Professions Code. The Complaint seeks, among other things, (i) general and special damages in an amount to be proven at trial; (ii) the rescission of certain material agreements entered into between Trans-Pacific Aerospace or Harbin Aerospace, on the one hand, and the Defendants, on the other, and (iii) the Defendants return of all cash and stock-based compensation received from either Trans-Pacific Aerospace or Harbin Aerospace in breach of the defendants’ fiduciary duties or applicable law. David Walters and Keith Moore are former members of the board of directors of Trans-Pacific Aerospace and Walters and Mathew Szot are former executive officers of Trans-Pacific Aerospace. The Defendants as a group are believed to own in excess of 11% of the issued and outstanding common shares of Trans-Pacific Aerospace. As the litigation is at a preliminary stage, it is not possible to predict the likely outcome of the case.
On September 12, 2011, the Defendants filed a Cross-Complaint against Trans-Pacific Aerospace or Harbin Aerospace alleging the claims of Trans-Pacific Aerospace and Harbin Aerospace were released pursuant to a Settlement Agreement and Release dated October 19, 2010 between Trans-Pacific Aerospace and the Defendants. In their Cross-Complaint, the Defendants allege that although Harbin Aerospace was not a party to the Settlement Agreement and Release, Harbin Aerospace had effectively transferred to Trans-Pacific Aerospace any claims Harbin Aerospace had against the Defendants as part of Harbin Aerospace’s sale f assets to Trans-Pacific Aerospace in February 2010, and that such claims were then effectively released by Trans-Pacific Aerospace by way of the Settlement Agreement and Release dated October 19, 2010. Trans-Pacific Aerospace and Harbin Aerospace dispute the Defendants cross-claims and intend to vigorously prosecute their claims against the Defendants and defend against the Defendants’ cross-claims.
As the litigation is at a preliminary stage, it is not possible to predict the likely outcome of the case.
Lease
In October 2010 the Company entered into a lease of its administrative, offices. The lease expires November 30, 2011 and calls for monthly rental payments of $792.
Minimum annual rentals for the above lease are as follows:
anyone know the share count?
They are definately not pumping themselves up. Nearly every penny I have ever seen would have anounced a new website. In my opinion I think we will see some good things to come. FINALLY!
Been holding this for a year. The websites look great. There has to be some money coming from somewhere to have job openings like that.
Ton of buys at .0021 going through
I just got into this today and the more I research and think about it, the more that I believe that this could be massive. It will take time for this tech to be economical but once it is, watch out people. IMO this company surely has had offers of a buyout. When you have men like Mr. Amelio putting their neck out there on a company you know its a safe bet that this will go somewhere. IMO but almost a no-brainer.
Advertisement is a good stepping stone. I can see this tech in universities as a teaching tool. Anatomy would be perfect. 3d examples of organs and stages of disease.
There are alot of big names associated with this company. The tech is awesome.
Yup, the spread is a little extreme but good for the "investor" and not your day trader. This is a safe long hold. IMO
I just got in with this company. Looks great. Good share structure and huge potential. IMO Good Luck everyone
This is exactly what you want if you believe the buyout. Great opportunity to buy more shares. Just perfect.
I dont post much but I would like to put my 2 cents into this play. I have been playing pennies for a little while. The goal is gain free shares and let them ride and continue gaining free shares in hopes of a big hit and at the same time make some money. I bought into this company a while back because of the "possible" huge potential in their alloy. Basically, if you have free shares riding on this you would be a fool to not ride this one. If you dont, good luck. "IMO" the saying everyone ends with to cover their ass. Oh, and to the bashers. I hope you guys got your entry point.
http://www.fresnobee.com/2010/03/15/1860506/hanford-company-accepts-offer.html?storylink=misearch
Here is the article. May have allready been posted. I dont post much but I can say one thing. Whether you beleive the buyout or not EVERYONE is on the trigger! lol
What part of CA they from? I am from southern CA and I think the houseing rock bottom has hit here. A second wave of foreclosers hit a couple months ago. I think the housing market has allready flipped to new ownership.
What is thier story?
Even if it dont work on humans, they have proven it to work on pigs which is where the swine flu may have originated. There are nearly as many pigs to get the shot as humans lol!
AFTERMARKET GOING NUTS on this!@ 3.50 at the moment!
Thought this was interesting. Their last 8-k:
Item 1.02. Termination of a Material Definitive Agreement
On July 13, 2009, Inovio Biomedial Corporation (the “Company”) received written notice from Wyeth Pharmaceuticals (“Wyeth”) of the termination without cause of the Collaboration and License Agreement, dated as of November 2, 2006, by and between Wyeth and the Company (the “Agreement”). The termination is effective ninety (90) days from the Company’s receipt of the written notice of termination. Under the Agreement, the Company had granted Wyeth a worldwide non-exclusive license to use the Company’s electroporation technology for delivery of therapeutic DNA vaccines against certain targets.
Revenue under the Agreement had been a material portion of the Company’s revenue from collaborative research and development arrangements in past periods. As stated in its Form 10-Q for the quarter ended March 31, 2009 and Form 10-K for the fiscal year ended December 31, 2008, the Company had expected future revenues from Wyeth to be significantly lower than in past periods, as the Company believed Wyeth to be evaluating internal strategic options prior to initiating further development of electroporation-based infectious disease programs. Wyeth has recently agreed to be acquired by Pfizer Inc. Termination of the Agreement enables the Company to further develop its clinical programs on an exclusive basis.
Makes this new development exclusively owned by Inovio.
WOW the aftermarket action is great! Almost as much volume!
Thats the speculation. There is no FDA approval so who knows. Just tests on animals are very positive.
Thanks. I am seeing some bigger trades go through.
This is BLOWING UP! Wish I could buy more. Any good DD?
Hey everyone. A friend of mine saw the car wash sponges in Costco here in Temecula California. He did see some people buying them. I will get a pic. I don't have a membership with Costco but I will get one so I can buy one and get a recite.
I have never seen so much effort in trying to drop the PPS of a stock in a long time. There are allot of people putting some real time into their strategies. It actually encourages me to buy more lol.
I haven't seen this posted yet. Maybe it has, but just in case. Here is the Dicon website. Pretty cool partnerships.http://www.dicontechnologies.com/
That is exactly what I have been doing. Watching and accumulating as many shares as I can. Timing sells and buys to maximize my holding.
So is Donald Trump hehe
L2 is weird. 5 separate 38900 chunks of shares were sold within seconds of each other. 38900? Strange number. Maybe a good answer for it. I just thought it was strange.
Im the same. Been adding since May. I only use the board for some DD.
MMs consolidating it at 15 IMO
L2 looks great in the last few minutes. 15 getting hit pretty good
Buys and sells are larger than they used to be in the past. Good IMO
Somebody manipulating this: If you watch the L2 it is obvious something is going on in the inside. There is not enough sell pressure or buy pressure from the outside to move this thing around so much. Its very interesting.
I have the same problem. I cannot get a file at all.
I cant get any files either but what a ride huh guys! WHOOOO HOOOO God I love day tradeing! What a rush!
Cant get my order filled LOL.
I just gained 20,000 shares over that drop. Have to take advantage of it.
Yup, it happened before yesterday too.
Another one of those weird dips.