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Thanks for the Christmas present pumpers! I was finally able to offload my 25 mil shares of this POS scam I got stuck in 7 years ago. Now I have $5k I never thought I’d get back.
That quoted portion was copied directly from the ruling. Though none of this opining really matters since none of us are involved with making the decisions. SM & MC will continue the sweep until a legal authority forces them to stop it. It’s too good for the Secretary of the Treasury to pass up the free money, he has no incentive to stop the sweep, and he’d catch flak for stopping it on his own since his cabinet position is responsible for funding the government.
As far as SM statement that treasury might appeal to the Supreme Court, that isn’t up to him or the treasury lawyers. That would be up to the Solicitor General to decide if the administration will appeal to SCOTUS and I’m sure he’d be hard pressed to argue this one the same as Treasury lawyers have. If I was the Collins plaintiffs, I wouldn’t settle, seek an emergency injunction against the NWS, and ask for additional remedies based on any actions FHFA takes that harms shareholders between now and the remand opinion in addition.
Emergency Motion to Stop the NWS
Anyone familiar with legal processes and the way ahead for the Collins case please weigh in on this.
There are several people on this board and in other forums incorrectly arguing that FHFA & treasury will be violating a court opinion (the Collins ruling) if they go forward with the NWS. Here's my argument showing that the treasury and FHFA are not violating any court order and actions I think the Collins plaintiffs should do to stop the NWS:
While the 5th Circuit En Banc panel found "The Shareholders plausibly allege that the Third Amendment exceeded FHFA’s conservator powers...," the court remanded the case back to the original three-judge panel for further consideration. The en banc court did not issue an injunction barring FHFA & treasury from continuing the sweep, they just provided guidance to the three-judge panel on how they should rule. The injunction against the NWS should be delivered in that ruling at some time in the future.
I believe that the Collins plaintiffs should file for an emergency injunction to stop the sweep scheduled for 30 Sep based on this ruling and the likely hood that the sweep will be ruled as illegal and stopped in the remand decision. Wouldn't this provide more ammunition to the plaintiffs in settlement talks and as well the other cases floating around out there?
Respectfully,
ILM
Tuesday 9:30 am eastern time
The court can also do a summary reversal and remand, or issue a ruling without hearing arguments based on already established case law. Although there has not been a SCOTUS ruling on HERA, they could look at the precedent from cases involving FDIC conservatorships since the language is the same between the two laws.
We might see that and more if the supreme court decides to take up the case on FEB 16th. There might be a delay since the announcement of the cases taken up are made the following Monday, which is a federal holiday and SCOTUS is closed.
Just looking at the supreme court statistics for 2016 at link #1 below, 79% of the cases heard resulted in a reversal of the lower court's opinion. Several of the affirmed cases that I looked at had to do with appeals by criminal defendants or private parties. Of the 7 cases decided since OCT 2017 (link #2), there has been a 100% reversal rate. I'll take my chances, especially with Gorsuch appearing to be skeptical of government agency action.
Link 1: SCOTUS 2016 Key Takeaways
Link 2: SCOTUS Statistics
Yeah, with my 48k shares FNMA, I'm really hoping that the GSEs are doomed.... I was skeptical that the three judge panel PHH ruling would be upheld, but was hoping it would be. That would've made a challenge to the structure of the FHFA an automatic win in the DC circuit.
I'm still hoping for a court to realize that the members of government agencies can't just do anything they want to. In order for them to take an action, then that action has to be an authority granted to that agency in the law. If it is not, then they can't take that action. There is no "it doesn't say we can't, so that means we can" for government agencies.
En banc review of PHH vs. SFPB found that the CFPB (FHFA has the same structure) structure as an agency with a single director removable only for cause is constitutional. Unless the administration appeals to the supreme court, there goes one avenue to challenge the FHFA on constitutional grounds.
Link to ruling: PHH vs CFPB ruling.
-ILM
Here's an interesting line from that letter:
"While Director Watt has been working with Treasury to modify the 2012 amendments to the PSPAs, he has also indicated that he has the authority – and the responsibility, as conservator – to withhold GSE dividends to reestablish a capital reserve and to protect the financial soundness of the two companies."
This is the most interesting part of the bill under BACKGROUND AND NEED FOR LEGISLATION:
To stabilize the housing market in the aftershock of the
financial crisis, the FHFA used its authority in 2008 to place
Fannie Mae and Freddie Mac into its conservatorship.\3\ In
conservatorship, the government takes control of a failing
financial institution with the goal of returning it to
financial health and stockholder control.\4\ In the process,
the FHFA redirected $187.5 billion to Fannie Mae and Freddie
Mac.\5\ At the time, the taxpayer-financed Fannie and Freddie
bailout was considered ``the most sweeping government
intervention in private financial markets in decades.''\6\
It probably wouldn't be a solid legal argument, but it would be cool if this could be used in one of the lawsuits to basically state "it's written in this brand new law that congress intended the entities to be returned to stockholder control."
-ILM
This would be a great time for Mnuchin to act for all parties concerned. The most important court case was decided whith many of the plaintiff's issues set aside. He could nullify further appeals higher by getting rid of the NWS and modifying the agreement with FHFA. If perry is satisfied and doesn't appeal for en banc hearing, then gov could use this case to convince other plaintiffs to drop their cases. Gov doesn't lose any cases and doesn't need to settle with any terms. While us shareholders get what we want, an end to the NWS and a probable release somewhere down the road.
Yes, today. Finance Committee hearings calendar. Mouse over the Executive Session:
"February 1, 2017
Executive Session
Open Executive Session to Consider the Nomination of Steven Terner Mnuchin to be Secretary of the Treasury and the Nomination of Thomas Price to be Secretary of Health and Human Services
Location: Dirksen Senate Office Building
Time: 9:30 am"
Why the Perry ruling might be taking so long.
This is pure speculation on my part, but one reason the DC court of appeals could be taking so long is because the PHH v. CFPB ruling in mid-October set a new precedent for the court. That ruling mentioned the FHFA as having an unconstitutional structure due to it being headed by a single director who cannot be removed “at will” by the president. The court did not rule that the CFPB had to be dissolved, but it did declare any actions taken by the CFPB against the company as being illegal. The court overturned a $190 fine levied against the company. According to the Legal Information Institute: “Generally, courts will adhere to the previous ruling, though this is not universally true.” It’s not unreasonable to believe the panel that heard the Perry appeal in April could have been close to finalizing its opinion in OCT but was blindsided and potentially forced to rewrite that opinion to incorporate the precedent set in PHH.
Basically, the plaintiffs have argued that the FHFA acted improperly when it instituted the net worth sweep and basically want their property rights restored; they are not challenging the conservatorship itself. But if what I wrote above is true, then what could follow is a court decision that goes far beyond anything the plaintiffs are asking for. There is a potential for the Perry opinion to declare the FHFA as having an unconstitutional structure and overturn any major decisions the FHFA director made with respect to the companies. If this happens then the entire conservatorship could be thrown out, the government may be forced to return any excess payments, the warrants cancelled, and damages could be awarded to the plaintiffs.
This scenario would make it easy for the Trump administration to knock out one of its top ten priorities without having to do anything. Incoming treasury secretary Mnuchin could just decide to not appeal the ruling. This would force the government to comply with the ruling and F&F could be released and recapitalized rather rapidly. Some republicans would probably balk at the ruling and actions by the administration, but would do nothing as far as legislation goes since it would go against the administration and the info could be used to embarrass democrats. This ruling could then be used to settle with plaintiffs in other cases by agreeing to pay legal fees and maybe a small amount of damages. The companies would be made whole, and the share prices would skyrocket. Trump would get the credit for the uptick in the housing market and overall economy that would follow.
I really hope that I am close to the mark on this, because I would become a millionaire in 2017 if it is.
All of the above is my opinion based on nothing but trying to reason why the Perry ruling has taken so long.
I've started a white house petition to release Fannie and Freddie. Sign it and spread it to everyone you know.
Click here to sign the petition
Bronze
I'm gonna throw out a guess that they had to change locations due to the original site being in the middle of the San Juan National Forest. Sorry, no weed on federal property.... The federal government hasn’t legalized marijuana and it owns more than half the land in states where it is legal
That's just my opinion though, went in at .0034 so hoping this pops up.
ILM
I don't think DragonOx can collect shares since they would be doing it through Ironridge Global IV, Ltd. The SEC order was aimed at both Ironridge entities:
Personally, I'd like IR to be forced to buy back the same number of shares they were issued and return them to the company. Which probably isn't an option. Under normal circumstances that would be the only way we could possibly see value return to this stock. Unfortunately these aren't normal circumstances and that probably won't budge this share price since there's a bunch of other shares apparently being issued under .0001 in order to cover the convertible notes that are coming due this year. FML!!
FS, Congratulations in advance on your dealership getting set up. Are you going to make it over to Oahu once you get up and running? I'll be moving there on April 1st and am seriously considering getting a survival model once they are readily available in order to get around the traffic. I would also suggest once you have several of each model in stock to try to set up a display at one of the military post exchanges on Oahu for a day or two. There's almost 50k service members stationed on Oahu who have disposable income. I'm sure you would find quite a few and would love to own a motoped. All IMHO.
ILM
Specs for the Christini AWD Military Sorry, but it says nothing about the smartcarb. It does show you can put on a Boyesen Quickshot FCR which bolts onto a standard Keihin FCR carb. I'm not busting on the post to be negative, I just don't want speculation to be taken as fact. It doesn't mean that the smartcarb won't be on future versions. Just with the info provided by the company, it is not on the current version.
All IMHO,
ILM
There’s less than $1 million in convertible notes left over this year. Here is what I figure are left of convertibles based on the quarterly reports. Bear with me on this and please double check all of these as my eyes are bugging out from looking at filings all morning. Listed below are all of the share issuances to satisfy convertible notes throughout 2014. I did some excel spreadsheet magic to compare how much was owed to each company and how much has been paid so far. These are cut directly from the three quarterly reports. Keep in mind this is all my opinion.
Tangiers: In the report ending 31 Mar 14 section 3(i): Indebtedness of the Company, it states that Tangiers was owed $192601.92 as of 24 Feb 14. Adding all of the convertibles issued after that they were owed a total of $1,120,101.92 and were paid $1,153,888.49. Overpaid almost 34k (interest) so that might take care all or most of Tangiers.
WHC: Owed: $375,000 Paid: $114,164 Still owe about $261k
MAMMOTH: Owed: 660,000 Paid: $812,500 I’ll call them paid.
IBC: Owed: $89,794.50 Paid: $105,099.97 Paid off
Have not paid:
Ceasars, Auctus, LG, or Inter Mountain.
These are copied directly from the quarterly reports.
Total Convertible debt still outstanding: about $860,000
That’s still a lot for a pinky with this share price and structure. I do think it’s manageable though.
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.
In January 2014, in accordance with a convertible note the Company privately issued 56,130,567 shares of common stock to Tangiers Investors, LP to retire $6,949.73 of principal and interest in convertible debt.
In January 2014, in accordance with a convertible note the Company privately issued 6,326,667 shares of common stock to Long Side Ventures LLC to retire $949 of principal and interest in convertible debt.
In January 2014, in accordance with a convertible note the Company privately issued 5,000,000 shares of common stock to Taconic Group LLC to retire $1,300 of principal and interest in convertible debt.
In February 2014, in accordance with a convertible note the Company privately issued 109,442,353 shares of common stock to Tangiers Investors, LP to retire $34,221.91 of principal and interest in convertible debt.
In February 2014, in accordance with a convertible note the Company privately issued 32,922,216 shares of common stock to Long Side Ventures LLC to retire $7,534.65 of principal and interest in convertible debt.
In February 2014, in accordance with a convertible note the Company privately issued 21,223,823 shares of common stock to Taconic Group LLC to retire $4,483.57 of principal and interest in convertible debt.
In February 2014, in accordance with a convertible note the Company privately issued 32,922,231 shares of common stock to Brent Coetzee to retire $7,647.34 of principal and interest in convertible debt.
In February 2014, the Company privately issued 49,500,000 shares of common stock which had a fair market value of $23,100 to IBC Funds, LLC in accordance with a settlement agreement.
In February 2014, in accordance with the termination of independent contractor agreements, the Company privately issued shares of common stock to four individuals: 1,695,736 shares each were issued to Stacey McQuestion, Douglas Brown and Robert Lockwood and 1,685,736 shares were issued to Peter Bisconti.
In March 2014, in accordance with convertible notes the Company privately issued 181,300,720 shares of common stock to Tangiers Investors, LP to retire $107,155.49 of principal and interest in convertible debt.
In March 2014, in accordance with a convertible note the Company privately issued 87,138,780 shares of common stock to Long Side Ventures LLC to retire $83,343.82 of principal and interest in convertible debt.
In March 2014, in accordance with a convertible note the Company privately issued 9,143,674 shares of common stock to Taconic Group LLC to retire $7,863.56 of principal and interest in convertible debt.
In March 2014, in accordance with the termination of an independent contractor agreement, the Company privately issued shares of common stock to three individuals: 1,442,308 shares each were issued to Phillip Nagele and Joseph Masters and 192,308 shares were issued to Joseph Gruber.
In March 2014, in accordance with a convertible note the Company privately issued 33,320,000 shares of common stock to Brent Coetzee to retire $39,650.80 of principal and interest in convertible debt.
In March 2014, the Company privately issued 81,250,000 shares of common stock which had a fair market value of $186,200 to IBC Funds, LLC in accordance with a settlement agreement.
In March 2014, the Company privately issued 8,500,000 shares of common stock to John Berkeridge for services as a director of the Company.
In March 2014, in accordance with a convertible note the Company privately issued 175,000,000 shares of common stock to Mammoth Corporation to retire $315,000 of principal and interest in convertible debt.
In March 2014, in accordance with a Share Exchange Agreement, the Company privately issued 2,735,501,964 shares of common stock to the shareholders of APT Group, Inc. The shares were authorized for issuance pursuant to an exemption under Section 4(2) of the Securities Act of 1933.
In April 2014, in accordance with a convertible note the Company privately issued 7,884,615 shares of common stock to IBC Funds, LLC which had a fair market value of $81,999.97.
In April 2014, in accordance with a convertible note the Company privately issued 2,595,508 shares of common stock to Brent Coetzee to retire $7,591.86 of principal and interest in convertible debt which had a fair market value of 24,657.33.
In April 2014, in accordance with a convertible note the Company privately issued 9,791,667 shares of common stock to Tangiers Investment Group, LLC to retire $23,500.00 of principal in convertible debt which had a fair market value of $146,875.00.
In April 2014, in accordance with a convertible note the Company privately issued 32,727,273 shares of common stock to Tangiers Investment Group, LLC to retire $180,000 of principal and interest in convertible debt which had a fair market value of $680,727.28.
In April 2014, Jeffrey Saltzman surrendered 10,800,000 shares of common stock to the company in accordance with the Miami Ice Machine Company agreement which had a fair market value of $196,560.00.
In April 2014, in accordance with an Order for Stipulation and Settlement of Claims, the Company privately issued 435,000,000 shares of common stock to Ironridge Global IV, Ltd. which had a fair market value of $5,829,000.
In April 2014, in accordance with a consulting agreement the Company privately issued 1,041,700 shares of common stock to Matthew Schissler which had a fair market value of $13,958.78.
In April 2014, in accordance with a consulting agreement the Company privately issued 25,000,000 shares of common stock to N. Douglas Pritt which had a fair market value of $335.000.00.
In April 2014, in accordance with a convertible note the Company privately issued 32,727,273 shares of common stock to Tangiers Investment Group, LLC to retire $180,000 of principal and interest in convertible debt which had a fair market value of $369,818.19.
In May 2014, the Company privately issued one share of common stock to Jonathan Irwin which had a fair market value of $0.0058.
In May 2014, in accordance with a convertible note the Company privately issued 83,333,333 shares of common stock to Mammoth Corporation to retire $315,000 of principal and interest in convertible debt which had a fair market value of $425,000.00.
In May 2014, in accordance with a convertible note the Company privately issued 73,846,154 shares of common stock to Tangiers Investment Group, LLC to retire $180,000 of principal and interest in convertible debt which had a fair market value of $420,923.08.
In May 2014, in accordance with a consulting agreement the Company issued 1,894,000 shares of common stock to Pyrenees Investments, LLC which had a fair market value of $10,795.80.
In May 2014, in accordance with an Order for Stipulation and Settlement of Claims, the Company privately issued 250,000,000 shares of common stock to Ironridge Global IV, Ltd. which had a fair market value of $750,000.
In May 2014, in accordance with a convertible note the Company privately issued 173,809,524 shares of common stock to Mammoth Corporation to retire $182,500 of principal and interest in convertible debt which had a fair market value of $469,285.72.
In May 2014, in accordance with a convertible note the Company privately issued 10,259,048 shares of common stock to Tangiers Investment Group, LLC to retire $10,772 of principal and interest in convertible debt which had a fair market value of $35,906.67.
In June 2014, in accordance with a convertible note the Company privately issued 137,142,857 shares of common stock to Tangiers Investment Group, LLC to retire $180,000 of principal and interest in convertible debt which had a fair market value of $548,571.43.
In June 2014, in accordance with an Order for Stipulation and Settlement of Claims, the Company privately issued 240,000,000 shares of common stock to Ironridge Global IV, Ltd. which had a fair market value of $648,000.00.
In July 2014, in accordance with an Order for Stipulation and Settlement of Claims, the Company privately issued 195,000,000 shares of common stock to Ironridge Global IV, Ltd. which had a fair market value of $273,000.
In July 2014, in accordance with a convertible note the Company privately issued 62,500,000 shares of common stock to Tangiers Investment Group, LLC to retire $25,000 of principal and interest in convertible debt which had a fair market value of $100,000.
In July 2014, in accordance with a convertible note the Company privately issued 68,852,750 shares of common stock to Tangiers Investment Group, LLC to retire $27,541 of principal and interest in convertible debt which had a fair market value of $103,279.
In August 2014, in accordance with a convertible note the Company privately issued 197,773,975 shares of common stock to Tangiers Investment Group, LLC to retire $79,110 of principal and interest in convertible debt which had a fair market value of $177,997.
In August 2014, in accordance with a convertible note the Company privately issued 64,102,565 shares of common stock to WHC Capital, LLC to retire $50,000 of principal and interest in convertible debt which had a fair market value of $89,744.
In September 2014, in accordance with a convertible note the Company privately issued 70,000,000 shares of common stock to WHC Capital, LLC to retire $25,200 of principal and interest in convertible debt which had a fair market value of $42,000.
In September 2014, in accordance with a convertible note the Company privately issued 102,808,200 shares of common stock to Tangiers Investment Group, LLC to retire $25,702 of principal and interest in convertible debt which had a fair market value of $113,089.
In September 2014, in accordance with an Order for Stipulation and Settlement of Claims, the Company privately issued 230,000,000 shares of common stock to Ironridge Global IV, Ltd. which had a fair market value of $184,000.
In October 2014, in accordance with an Order for Stipulation and Settlement of Claims, the Company privately issued 370,000,000 shares of common stock to Ironridge Global IV, Ltd. which had a fair market value of $111,000.
In October 2014, in accordance with a convertible note the Company privately issued 162,953,086 shares of common stock to Tangiers Investment Group, LLC to retire $32,998 of principal and interest in convertible debt which had a fair market value of $65,181.
In October 2014, in accordance with a convertible note the Company privately issued 358,792,593 shares of common stock to Tangiers Investment Group, LLC to retire $48,437 of principal and interest in convertible debt which had a fair market value of $71,759.
In October 2014, in accordance with a convertible note the Company privately issued 376,740,741 shares of common stock to Tangiers Investment Group, LLC to retire $25,430 of principal and interest in convertible debt which had a fair market value of $113,022.
In October 2014, in accordance with a convertible note the Company privately issued 315,000,000 shares of common stock to WHC Capital, LLC to retire $18,900 of principal and interest in convertible debt which had a fair market value of $94,500.
In November 2014, in accordance with a convertible note the Company privately issued 334,400,000 shares of common stock to WHC Capital, LLC to retire $20,064 of principal and interest in convertible debt which had a fair market value of $66,880.
In November 2014, in accordance with a convertible note the Company privately issued 418,414,815 shares of common stock to Tangiers Investment Group, LLC to retire $28,243 of principal and interest in convertible debt which had a fair market value of $83,683.
Thanks. What about the notes that came due in Jan thru Mar? I know they are in other posts, but can't search because of free account.
Where's that list of convertible notes, dates, and dollar amounts again?
New Filing:
[url][/url][tag]http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=10413221[/tag]
Fact: Cerner wants to buy APT's property.
I am down quite a large chunk of money on this stock, but haven't lived up to my handle for this stock since I haven't sold. The reason I haven't sold is I believe there are good things coming. Included in that is the fact that the KC city council has approved subsidies to assist Cerner in it's campus expansion. Is the purchase complete yet? I don't know, Jackson County, MO real estate search show any new sales for APT.
There is quite a bit of misinformation being posted about the Cerner land purchase. Notice I wrote Cerner land purchase, not APT, because Cerner is the purchasing party and is a multi billion dollar company. Don't take my word for it, Here is a quote from the lawyer representing Cerner: "Dave Frantze, a lawyer with Stinson Leonard Street LLP who represents Cerner, said it has not yet acquired the motel properties but has had conversations with its owners as well as the owners of the former Montgomery Wards building at 8844 Hillcrest Road, which is also part of the acreage recently added to the Three Trails Campus plan. The Ward building is owned by APT MotoVox Group Inc., which manufactures dirt bikes, go-karts and performance components for engines."
Here's a link to the story containing the above quote:
insert-text-here
If that's not enough, here's another story with a picture of the approved expansion:
insert-text-here
Here's the picture showing the expansion (the area in yellow shows the expansion):
Here is the KC GIS mapping site and screen shots of APT's properties (follow 71 south on the map until you get to 435 and you will be in the general area):
insert-text-here
The above is some of the DD that is causing me to buy more in order to average down and hold for a nice run up. Notice I did not post a link to APT's update because that is irrelevant in showing that Cerner is looking to buy the property APT is on and is in talks with APT to complete the purchase.
Respectfully and all IMHO
ILM
Koko,
Thanks for the PM, just have free membership so I can't PM a reply. I totally agree with you on this and hope to change my name sometime soon since I own a few shares. If this gets the right news it will run pretty high and wipe out any of my unrealized losses. All IMO of course.
ILM out.
I'm not sure if anyone posted the article linked to below when it was written last month. It doesn't give too much info except why SAVWATT may not have gotten a contract with Baltimore yet.
http://www.baltimoresun.com/features/green/bs-gr-green-jobs-20110910,0,6087983.story