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No real timeframe.
If you can find the right links, the 8th District Court in Nevada posts status online, but I didn't have the time to find where it is.
Report from the Shareholders Meeting
I attended today's shareholder meeting in Las Vegas and have a few things to report, but the net-net is that there is a 95% chance we'll be wiped out.
Joseph Bartel, the Custodian of TXP explained the financial situation of TXP: The company has filed for bankruptcy protection. As a representative for shareholder Ranga Blu (100,000 shares), he petitioned the court and was named custodian. Note that TXP has not filed required paperwork in Nevada since 2008 and is now an inactive company.
Shares have not been wiped out as there was a disconnect between the bankruptcy court and the pink sheets market.
Michael Shores is the majority shareholder (~70%), but a company named Yorkville has convertable notes, which they can exercize at any time and wipe all shareholders out.
At the meeting, Bartel nominated (and I seconded as the only other shareholder there) him to serve as sole Director of the comapny. Ranga Blu will bring the company status up to date and see if they can salvage anything from the mess that was left by Shores. This will include a full accounting.
The company is not operating. Any inventory is encombered. The only value would be the IP if Yorkville wants to salvage that. There is also some value to the corporation itself as it trades on the pink sheets (oh, the transfer agent for TXP hasn't been paid in a long while either).
I'll answer any questions folks might have to the best of my ability.
Shareholder Meeting
As of tonight, I plan on going to the meeting with a proxy for my wife's shares.
Hi Jeff,
Just got the letter as Betsy's is the shareholder. I might go, unless real work gets in the way (I'll have to have Betsy do a proxy for me).
Kind of interesting that we haven't gotten proxy forms for what is being billed as the annual shareholder meeting, but they still have a few days.
Who is Ranga Blu LLC?
It's probably the firm that Bartel either works for or has hired as custodian.
Who is Joseph Bartel, "Authorized Signatory / Custodian of TXP Corporation"???
I assume he is the bankrupcy custodian.
Mike
Question about ALLRF & AAA
How does this work exactly? Are there real ALLRF shares or do you place an order for ALLRF and the broker fills with AAA?
Is the ALLRF volume correct for itself and does the AAA volume include it?
Just a little confused as to how this all works.
What this company REALLY needs...
...is product placement on medically-oriented shows like House. Screw the rolling temporal thermometer. Imagine the buzz when all they do is point, shoot, and get an accurate temp.
Great Buying Opportunity Tomorrow
If the price falls because of the "Allana Potash Clarifies Status of Its Economic Analysis" release, it would be a great opportunity to buy.
What does that mean exactly?
5,000 share blocks?
Can someone explain why I see bid/ask in 5,000 share blocks? That would be less than $50. Or is there some multiple going on?
Email new company website "contact" about status of TXPO stock. That was two weeks ago and still no reply.
What I don't understand is why we still have stock. Hasn't the bankruptcy been approved and shareholders wiped out? Or is it still pending (and then why isn't the symbol TXPOQ)?
Of the two stores in Vegas (both owned by the same person), one closed and the other is now called Great Links and has nothing to do with Famous UNcle Al's anymore (except I still order a Vrginia Beach instead of saying chili and cheese dog).
Interesting that folks sold after the conference call here, but that on the US ALLRF.pk someone bought... but only 6,000 shares (the only transaction of the day).
Looks like someone bought right after the conferene call.
Bedford Pump
Got a call from Bedford pumping this. They say all the volume is from their folks. Will probably rise then fall sharply when the pump turns to a dump. Just be careful.
Tripled my holding today... now I sit and wait.
Tripled my holding today... now I sit and wait.
Tripled my holding today... now I sit and wait.
Ford LEAP Options Small Time Value
F closed at 11.55
The Jan 2011 LEAP 2.5 Call ask is: 9.15 (time value=10¢)
The Jan 2012 Leap 2.5 Call ask is: 9.20 (time value=15¢)
Not a large time value and a really small time value difference for a full year.
Making it easier for potential shareholders is a good thing. Many are fearful of ****F and Venture exchange share liquidity.
True, I use xe.com as well, but you might want to use your broker's rate for a more exact bid offer.
How To Buy ALLRF.PK & AAA.V
Issues with AALRF.PK
This can be expensive if your broker hits you with a DTC Rejection Fee (or a foreign stock fee). For example, TradeKing's DTC is $75 in addition to their regular commission. That's tough to justify with a penny stock.
Worse, some brokers, like Zecco, don't do five symbol ending F transactions.
Issues with AAA.V
This too can be expensive as some brokers charge around $24 as their commission to trade on the Venture exchange.
Fidelity
I've found that Fidelity is the most cost effective. First, they will allow non-retirement accounts to be set up (you have to request this) for foreign exchange trading (and you can settle in local or US currency). The commission is their regular $7.95
Retirement accounts, however, are restricted to US trading only, so you'll have to use ALLRF.PK. Still, the $7.95 commission is all that you will be hit with. Just remember to use AAA.V for your real-time quote and that this is in CAD$ while your bid for ALLRF will be in US$. You can call Fidelity and they can give you real-time conversions so you can place your order. And please, use a limit order.
How To Buy ALLRF.PK & AAA.V
Issues with AALRF.PK
This can be expensive if your broker hits you with a DTC Rejection Fee (or a foreign stock fee). For example, TradeKing's DTC is $75 in addition to their regular commission. That's tough to justify with a penny stock.
Worse, some brokers, like Zecco, don't do five symbol ending F transactions.
Issues with AAA.V
This too can be expensive as some brokers charge around $24 as their commission to trade on the Venture exchange.
Fidelity
I've found that Fidelity is the most cost effective. First, they will allow non-retirement accounts to be set up (you have to request this) for foreign exchange trading (and you can settle in local or US currency). The commission is their regular $7.95
Retirement accounts, however, are restricted to US trading only, so you'll have to use ALLRF.PK. Still, the $7.95 commission is all that you will be hit with. Just remember to use AAA.V for your real-time quote and that this is in CAD$ while your bid for ALLRF will be in US$. You can call Fidelity and they can give you real-time conversions so you can place your order. And please, use a limit order.
I got to the booth on Tuesday. Not impressive, but the literature and my follow-up DD was. As I said, I'm long with my purchase. In fact, it was one of two things "of interest" that I got from this year's show (NNN being the other--I wanted to see how they managed their dividend through the last 18 months).
Not to be a party pooper, but at the LV Money Show (just got home) the stage presentations are not big speeches. In fact, the average crowd over the last two days for these was about 15-20.
The Allana booth is small and can easily be lost in the noise of the show.
That being said, I am long and strong.
So, why did you buy it? Waht was your DD?
Just because you don't own the stock doesn't mean you cant email or call.
I contact companies I'm interested in to ask questions before I own it. Some I never buy.
Can Someone Post Level II
Just wondering what it looks like today.
Someone can... you.
Why not do it yourself? If I have a question or concern, I write an email or pick up the phone. Why ask someone else to do it for you?
Can't handle the truth?
Wow. I give pure facts based on business law and automatically I have a short position. I'm long 350K.
Actually, if corporate records differ from what IR tells investors (planning a R/S and telling investors that they are not), the company and the directors would be in violation of securities law.
R/S realities and the future.
Just to clarify, when IR writes that they have no intention for a R/S, that is as of that moment. Company policies change over time and anyone posting can assume anything when they end with IMHO.
Just because a company says that something in the future is not in (or is in) the works, just means as of this moment in time.
Does this mean a R/S is coming? No. Does it mean it's not coming? Yes... as of this moment in time. It just means that the present and the future are two different things.
Here's the legal boilerplate from one of my clients (emphisis added) that should clear things up when a company tells you something regarding policy:
...this press release may contain certain statements that constitute "forward-looking statements" within the meaning of the "safe harbor" of the U.S. Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on management's current expectations and beliefs and are subject to a number of risks, uncertainties, assumptions and other factors beyond XXX’s control that could cause actual results to differ materially from the future results expressed, forecasted or implied by such forward-looking statements due to changes in global economic and business conditions, risks related to its debt restructuring, and risks related to its operations in general.
Automated transaction download is another issue. If you use Zecco with Microsoft Money or Quicken, you have to manually download the transaction file. Not a real big pain, but an annoyance.
5-in-1 vs Exogen Temporal Thermometers
There are a bunch of ads for this year's clod/flu season for the Exogen Temporal Thermometer (the roll on the forhead type). This cold/flu season belongs to them for advanced thermometer technology.
I would hope that by Fall, ASF is ready with some advertising as their own 5-in-1 will be ready to go.
We need next cold/flu season to be ours and I hope that ASF is already in the marketing/advertising phase for that (since they are already in the production stage).
What concerns me is if the Never Touch might infringe on some Thermofocus patent. I know the company will take care of this, but I wonder who owns the IP.
I've started a position with QTM based on DD, especially factual info found here.
Well, hospitals for the NDD are an issue as there are professional NDD-type units.
Your bigger area would be for home health companies to get on board. Of course that would mean that ASFX would need to do some marketing.
As far as Q4 goes, they probably wouldn't be able to report until mid-January the earliest.
I think that the shareholder meeting will be the key to seeing how things are going and getting an uplisting timetable (or at least a checklist of things still pending to uplist since they may not know how long pending items would take).
I also don't see them selling their shares, especially when it was a lot higher than it lists for now.
So, if the Ford family doesn't buy more shares (which they didn't at the low--in fact, some officers sold way below today's price), I should assume that they have no faith in their company?
Oh please. Go back to your psychology 101 textbook.
Instead of asking us, why not just as IR?
And while ASFX has a history of reverese splits, it does not mean that one is coming.
Gotta love the bid/ask spread.
Bid 0.01
Ask 0.40
Now if the ask would just stay there.