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Right by Destine, FL. Most likely strapping in for the launch.
$20 dollars traded today so far.......whale sighting.
Understood. You're an optimist. Bounce? or perpetual slide? We shall see
It's not so much someone selling stock driving this down, it's the fact the company is having a garage sale of sorts to try to find cash to pay its obligations. Once they started touting the last 2 craptastic properties for sale......labeled 'highly prospective' aka POS, that's a red flag right there. No new board can save this any other way....it's 'sell, Mortimer, sell!'.
In the context of QSGI land, that is commonly referred to as a 'whale sighting', lol.
I can't believe they PR'd the east texas woodbine properties for sale. If they are specifically talking the old 3600' east texas oil field, those 9 wells combined may do 25 barrels of oil/day. Whoop T do. Talk about hurtin for money and public image.
That's the same thing the 'expert' analysts thought when Icahn took a big stake in Dynegy. They sure have been quiet since Icahn managed to run that in the ground with his two board appointments and assclown restructuring antics.
$870 traded so far today. Let's not get carried away with speculation.
One down one to go sampson
Yeah, uh huh. That genius comment reminded me of that interview on some TV program that featured the former president G.W. Bush and Zuckerberg. Quoting 'W' when addressing Zuckerberg.... "Well at least one of us graduated from Harvard" LOL.
Now that's classic, lol.
In my defense, I think it's a lot harder to read than get dates correct in an 8K, lol.
Sure, hasn't everybody?? lol Don't matter much....as no one would believe what I said was in it. Therefore, I'll just keep it to myself. The non-readers can speculate, lol.
Surely that 'imo' was based off of all those 'communications'.
Yeah, you're probably right. Look at how good of a job they're doing so far.
This whole IBM lawsuit scenario could just be a well disguised misdirection by Sherman to cover tracks related to bogus/inflated inventory valuations. I doubt the SEC will buy it though.
Maybe sampson was talking about me? I say the judge will kick QSGI to the curb but not give IBM the sanctions they asked for. I believe those are the two pending motions that are relevant.
Bias? Off topic? Funny how questions get brought up because the CEO has flat out not lived up to his promises, but when someone posts DD, which is public info, then they all squeal to admin that it is off topic, etc., when you all know very well it has only touched a nerve because you know full well the argument has merit.
Good day.
Hey gomez maybe jax has done his homework and dug up the new lawsuit filed against QSGI by the old Gasket Guy owners. It is public info that there were minimum EBITDA requirements and an 'earn out' that went along with the sale. The sale was basically an owner financed performance based deal. Therefore, it doesn't take a vast amount of knowledge to 'connect the dots' as to the reason why the new lawsuit was filed. Furthermore, it is public, so you can request a copy of the complaint and find out for yourself, instead of calling it 'speculation'. FYI, EBITDA means earnings before income taxes depreciation amortization.
If you weren't getting paid because someone wasn't making the money and taking care of business the way you agreed, would you sue the company for that.........or would you sue the company for something like 'not getting invited to the company picnic'?
It is commonplace for D&O policies to have a fraud exception. D&O policies are generally limited to fiduciary duties and so forth.
Insurance companies aren't stupid enough to give carte blanche freedom for someone to shaft other people on the backs of the insurance company's balance sheet.
If TGG/QSGI were making money hand over fist, they'd be touting those financials and PR's.
Dead silence except for hiring a journeyman 'gasket' maker......'nuff said.
Big time dilution coming. One more flop....done.
I regret to inform you that if your lawyer friend has told you that the QSGI lawyer's 'tactics', like ignoring discovery requests, ignoring court orders, waiting until deadlines to ask for extensions, making baseless assertions, etc, are 'the norm', you should probably consult with a different lawyer friend.
I'll tell you exactly how this is about to turn out. QSGI is about to be kicked to the curb. (Again). I doubt the motion for sanctions will be granted, as they rarely are, but QSGI's top notch lawyering team is certainly pushing it.
Chuckle all you want. This thing is done. The only remaining question is when.
Craig Rogerson couldn't manage a bucket full of piss. Pathetic earnings after the big 'M&A' announcement.
No, actually I quoted a paragraph from the sale court order, which was signed on April 17th. It's over and done with, got it?
https://ecf.flsb.uscourts.gov/doc1/050121608119
Do you have the total of all the assets sold up to this point, or do I have to go do that also?
Yeah, real estate book prices. That's 2.75 million. The personal property is listed as 5.3 million or something along those lines.
The mobile home sale came in a couple hundred under what you have posted, not exponentially more.
"The Debtor is authorized to sell the Assets more specifically described in the
schedules attached to the Agreement including, furniture, fixture, equipment and trade names for $35,000 and fabric and supply inventory for $344,790 for an aggregate purchase price of
$379,790.00, subject to certain credits set forth in paragraph 3 of Schedule 1.6 of the Agreement at Closing, free and clear of all liens, claims and encumbrances and interests to Haleyville."
You don't have to be a CPA. Just tell me how much they have sold and subtract the liabilities from that.
thanks
TTZ,
Sir, could you kindly help me with the math? Could you add up the proceeds from all the sales, and then apply them to the liabilities in total, so us folks who aren't following closely could analyse the situation?
As for all the EC speak, requests to the trustee for EC formations are private, and there is no duty to make those requests public, so whether or not no requests were made or 20 requests were made, we may never know.
What I can assure you of is that when CC's and EC's start competing for distributions, they will blow through $5 million dollars in legal fees before you can eat a bag of microwave popcorn and fart twice.
Be careful what you ask for. This is a 'damned if you do, damned if you don't' crapshoot at best. In the real world your logic may have some merit, but this is BK world, and it can be the farthest from 'real' as you can imagine.
It doesn't add up.
Maybe Rick Conklin can make a gasket for it.
Those inquiries have nothing to do with my questions about the lack of transparency related to the margin issues.....those being issues that either should have been disclosed...or shouldn't have come up at all.
But they did.
Oh my apologies...I thought it was that director at first glance. This one only brings new questions....like where is the disclosure about the margin in the first place and surely it wasn't husa stock the margin was called on. I doubt options from 2008 are still on margin and if they were, I'd like to see the disclosure. Maybe these margin positions are part of the SEC investigation.
http://www.sec.gov/cgi-bin/own-disp?action=getowner&CIK=0001188774
He sold right at 500K and then bought 480K. Margin call excuses aren't cutting it.
Pathetic....and telling. Sherman and Co put out a PR pump when they filed suit against IBM..
http://ih.advfn.com/p.php?pid=nmona&article=48699883
....although it's nothing but crickets when Sherman and Co gets sued by the very people they got in bed with to consumate the gasket guy deal. If they lose gasket guy, just what do they have left other than an ebay account?