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MANY people were fooled by their BS weo.
it's in all time dumper territory weo -- lowest pps EVER.
Braintech Ships Q2 Order of eVF Licenses to ABB - Marketwire
ABB Continues Global Expansion of TrueView Systems
July 18, 2007: 09:00 AM EST
Braintech Inc. (OTCBB: BRHI), a leading provider of Vision Guided Robotic ("VGR") software technologies, announced today that it has shipped fifty four (54) eVFTM software runtime licenses to ABB, Inc. (NYSE: ABB), in accordance with the terms of the Exclusive Global Channel Partner Agreement signed by the two companies in April 2006. These licenses will be used to fill orders for an expanding user base of ABB's TrueView Vision Guided Robotic systems (powered by Braintech's eVF robot vision software) through both direct and channel sales efforts.
TrueView system capabilities are expanding into new areas including: racking/de-racking stampings; multiple part per image processing for high speed gear material handling; and the utilization of fixed cameras in press automation applications. These new processes, combined with the already proven TrueView system product portfolio, are being deployed globally at manufacturers such as Ford, Toyota, General Motors and Honda (Japan), as well as key Tier supplier Nemak. Additionally, ABB channel partners CIM Systems, Automatrics, and Fill (Austria) are adding additional customers including International Truck, Makino, Gestamp and Kolbenschmidt Pierburg (Germany).
Steve West, ABB Global Business Development Manager for TrueView, states, "Working with Braintech, I expect both the number and uses of TrueView systems to continue to expand. More than ever, Braintech's eVF software platform is critical to managing this growth in both technology offerings and installations. It is eVF's core design that provides us a means to standardize (regardless of project specifics) integration and service procedures in a rapidly expanding market."
Owen Jones, Braintech's CEO and Chairman, says, "We've been working hard on some very important new projects that help position TrueView as the standard for Vision Guided Robotics. Our focus will be to continue the development of new vision technologies including an advanced random bin picking system capable of handling a large number of part sizes and shapes.
About ABB Robotics: http://www.abb.com/robotics
About Braintech: http://www.braintech.com
eVF is a trademark of Braintech, Inc. TrueView is a trademark of ABB, Inc.
Disclaimer
Statements in this document that are not purely historical are forward-looking statements and reflect the current views of management with respect to future events and are subject to certain risks, uncertainties and assumptions. Forward-looking statements in this news release include statements regarding the expansion of both number and uses of TrueView systems, the positioning of TrueView as the standard for Vision Guided Robotics, and the continued development of new vision technologies. It is important to note that the Company's actual results could differ materially from those in such forward-looking statements. Factors that could cause actual results to differ materially include risks and uncertainties such as technical difficulties in developing the products; competition from other suppliers of similar products; pricing that may not be acceptable to potential markets; and many other known and unknown factors. Readers should also refer to the risk disclosures outlined in the Company's 10-KSB and 10-QSB Forms filed from time to time with the SEC.
Distributed by Filing Services Canada and retransmitted by Marketwire
Contact Information:
Owen Jones
Braintech Inc.
#102 - 930 W 1st Street
Vancouver, BC, V7P 3N4
604-988-6440 x 200
Email Contact
http://money.cnn.com/news/newsfeeds/articles/marketwire/0279397.htm
playbev sighting from a celebutard i-rag... this blog ("dlisted") makes it seem more like its gaybev tho. not really sure if that is good or bad news here, but whatever, draw your own conclusions. thought i'd send a little DD your way.
is he shooting it? trying to give it the finger? and seriously, what self-respecting wannabe thug sports a T w/the Virgin Mary?!? although the bike-lock chain necklace does seem to frame her almost perfectly. have no idea who this clown is, but maybe he's the new cirtran spokestool?
http://dlisted.com/node?page=3
PS to lrh (meant to send it as a public post).
nope, but it'll caddy 36 holes, help 'em cheat (at golf, of course), prepare an S-8 and can make a dry martini, all before noon!
there's been some rumors of letting it handle investor relations too (and future mergers), but then smurfy won't have anyone to yell at and insult. there's also been some early talk about making him an honorary member at Gulf Harbour Club - not sure if it has the votes yet.
yeah, i say weisel should splurge!!
this model, the Jupiter Dump-a-Tron 100M can also double as a general contractor, or if need be, a director (or both).
hey, why not, there's shareholder money to spend... fire up those printing presses, Jeeves!
should they buy or lease the big share unloader equipment? maybe weisel can develop a multi-axis, multi-arm automated stock distribution device? and he can control it all using PennyScript software.
thank heaven he's a friend of Bill Gates -- it says so right here in the article "The Promise of Robotics." http://investorshub.advfn.com/boards/read_msg.asp?Message_id=20233635&
maybe that's because he's been doin' so much of the Lord's good works all these years and so God sent him a special friendship w/Gates? http://www.firstassemblywomensministries.org/Weisel.html
unverified rumor - innova moved out of office?
"inra office on pine ridge before and it looks like they may have moved out of the left side of the building. The right side looks to have active office equipment but the other side looks vacant to me. It was only about 5:30 and the whole place was dark and closed. I looked through the glass doors and nothing but a bunch of empty old boxes and garbage on the left side of the building and dark offices on the right side."
perhaps a Lee Cty. local will verify or refute this? maybe if yclip has time he can investigate? he wrote this recently:
"Just know from a client of mine who developes wharehouses that they contacted him recently for one of his properties East of 75 off of Daniels - SW Fl. lingo for " We gotta get out of this place - if its the last thing we ever do " Now Sing ALONG!"
http://investorshub.advfn.com/boards/read_msg.asp?message_id=20053612
how 'bout it clipper? will you contact your warehouse guy and see what's up?
http://maps.google.com/maps?f=q&hl=en&geocode=&q=15870+PINE+RIDGE+33908+&sll=37.0625...
Shoot on Sight Finishes Filming in London
17/07/2007 - 22:35
Producer Aron Govil announced that Cine Boutique Entertainment
(www.cineboutiqueltd.com) has finished filming the film "Shoot On
Sight" in London. The seven week shooting schedule was started in late
May and completed on schedule in early July. The film directed by Jag
Mundhra is a fast paced political thriller set in post- July 7 London
that deals with the predicament of the predominantly peace loving
Muslims in the face of Islamic extremism. Shoot On Sight has
prestigious Indian and British star cast including: Naseeruddin Shah,
Om Puri, Brian Cox, Greta Scacchi, Gulshan Grover, Stephen Greif,
Laila Rouaas, Sadie Frost & Pakistani actor Mikaal Zulfikar.
Naseeruddin Shah plays the lead role of Commander Tariq Ali, born
in Lahore and married to an English woman, who is tasked to
investigate the police shooting of a suspected Muslim terrorist on the
London Underground. Distrusted by both his superiors in the police,
and his fellow Muslims, he finds his inquiry hampered from all sides.
When evidence surfaces pointing to the slain man´s innocence, as well
as the existence of a terrorist cell operating in his own backyard,
Tariq must face the realization that sometimes, the right decision is
the hardest one to make.
Cine Boutique Entertainment, launched by Aron Govil, a New York
based Industrialist and Jag Mundhra, a renowned L.A. based director,
is a vertically integrated entertainment Media Company engaged in the
business of production, marketing and distribution of quality films
for global crossover audience. From Concept to Consumer (C2C), Cine
Boutique creates moderate budget films which are strongly driven by
concept rather than stars.
Shoot On Sight is expected to be released by the end of this year.
http://www.euroinvestor.co.uk/News/ShowNewsstory.aspx?StoryID=9598913
Cory Named to Lead General Dynamics Robotic Systems
Bonner promoted to Director of Engineering
WESTMINSTER, Md., July 16 /PRNewswire/ -- General Dynamics Land Systems
announced today that Philip Cory, 46, has been appointed General Dynamics
Robotic Systems senior director and vice president reporting to Mark
Roualet, General Dynamics Land Systems senior vice president and chief
operating officer. General Dynamics Robotic Systems is a wholly owned
subsidiary of General Dynamics Land Systems, a business unit of General
Dynamics (NYSE: GD).
Cory is responsible for managing all aspects of Robotic Systems.
Initially he will work closely with Scott Myers, who was one of the
founders of the company in 1991 and most recently served as president of
Robotics Systems. Myers is transitioning into a senior staff position and
will report to Mike Bolon, General Dynamics Land Systems senior vice
president of engineering design and development.
Cory joined Robotics Systems in 1991 after working as an electrical
engineer for eight years. He has held several key program management
positions at the company, including program manager for the Demo III and
Vetronics Technology Integration (VTI) programs. He most recently served as
the program director for the U.S. Army's Future Combat Systems (FCS)
Autonomous Navigation System (ANS) program. He holds a bachelor's of
science degree in electrical engineering from the University of Maryland
and a master's degree in computer engineering from Johns Hopkins
University.
In addition, Kevin Bonner, 42, has been appointed General Dynamics Land
Systems director of engineering for Robotic Systems, reporting to both Cory
and Bolon. He will be responsible for all engineering activity, including
technology development for current and future robotic programs. Bonner
replaces Mark Del Giorno, who has been named chief scientist. In his new
role, Del Giorno will continue to support technology development at General
Dynamics Robotic Systems.
Bonner joined General Dynamics Robotic Systems in 1991 as a senior
electrical and software engineer. He has held several positions of
increasing responsibility, including program manager of the Robotics
Collaborative Technology Alliance (RCTA) and program director for Future
Force Warrior (FFW). Most recently, Bonner played a lead role in
engineering and technology activities for General Dynamics Robotic Systems.
He holds bachelor's and master's degrees in electrical engineering from
Drexel University.
General Dynamics, headquartered in Falls Church, Virginia, employs
approximately 82,600 people worldwide and had 2006 revenues of $24.1
billion. The company is a market leader in business aviation; land and
expeditionary combat systems, armaments and munitions; shipbuilding and
marine systems; and information systems and technologies.
SOURCE General Dynamics Land Systems
http://www.prnewswire.com/cgi-bin/stories.pl?ACCT=104&STORY=/www/story/07-16-2007/0004626403&...
"Other nations, with less money and less influential air force generals who were once pilots, will build more effective and reliable UAVs. At that point, the U.S. will have to listen to the air force geeks, and get more serious about UAVs."
what happens if/when outfits like al-Qaeda get their hands on UAV drones?
on this we agree.
"keeping shareholders well-informed. In fact, companies should make every reasonable effort to do so."
yeah, why would shareholders want to know what the company is actually doing...
rolls eyes and hits "submit."
Coroware CEO Lloyd Spencer scheduled to speak at San Jose bot conference in October.
http://investorshub.advfn.com/boards/read_msg.asp?message_id=21182145
the rental or the rehab?
btw, has stormy455 ever posted on iHub?
perhaps we will just have to agree to disagree?
you say "It would be pointless for them to sell shares short when they can just sell shares."
the notion that it is somehow "pointless" is erroneous IMO. selling short would increase downward pressure and result in lower prices which influence subsequent conversion or redemption prices that are based on a backward looking discount formula using the lowest daily VWAP from the prior 30 days, despite its complete conflict with the supposedly "fixed price" financing that was announced:
settle any requested redemptions by either paying cash or issuing the number of shares of our common stock equal to the cash amount owed divided by a stock price equal to 95% of the lowest daily volume weighted average price of our common stock during the thirty (30) trading days immediately preceding the date of the redemption.
http://www.sec.gov/Archives/edgar/data/1156784/000114420406050988/v059435_sb2-a.htm
deliberately driving the price lower via short sales would result in lower lows, and a lower one day lowest VWAP over any prior 30 day span, and a higher number of shares issued for a constant dollar amount converted or redeemed -- and any excess shares after "covering" could also be sold, driving the price even lower.
and again, there are examples of this sort of scheme where the SEC has already brought enforcement actions.
for example:
http://www.forbes.com/business/2006/12/20/pipes-sec-insider-trading-biz-cx_lm_1220pipes.html
Walking robot offers clues to human movement
By Michael Kahn Thu Jul 12, 8:28 PM ET
LONDON (Reuters) - A walking robot that adapts to different terrain is helping scientists understand how humans move and could one day lead to improved treatment for spinal cord and other injuries, German researchers said on Friday.
Previously, RunBot the robot's inventors said the 30-centimetre-tall machine could only walk forward on flat surfaces and would topple over when encountering a slope.
But using an infrared eye, the robot can now detect an incline in its path and adjust its gait after four or five attempts to navigate up the slope, researchers said.
The machine, which simply falls over until it learns to walk uphill, takes 3-4 stride lengths per second, a touch faster than the normal human gait of about 1.5 to 2.5 stride lengths per second.
"It is trial and error learning," said Florentin Woergoetter, a researcher at the University of Goettingen who helped design RunBot.
"It needs about four or five falls to learn this."
Woergoetter, who published his findings in the journal Computational Biology, compared the process with the way a child learns to walk. He said just like humans, RunBot leans forward slightly and uses shorter steps to navigate uphill.
A key is the robot's "brain" -- in this case the infrared eye connected to the control circuits -- which directs the machine to change its gait when needed.
Previous research suggests the motor control system in humans consists of a hierarchy of levels where interactions between muscles and the spinal cord work largely on their own until a higher level of control -- the brain -- is needed.
This relationship can help explain how some paraplegics are able to use their legs on a treadmill while suspended in a harness, and was key to the research, Woergoetter said.
Studying a robot to gain a better understanding of how different parts of the body work when walking could have practical applications to improve health care for humans, he added.
This could include designing better prosthetics for amputees or helping therapists work with patients with spinal cord and other severe injuries with a goal of getting them mobile again.
"The robot is essentially a model of the human biped walking and can be used to improve understanding and for better treatment methods," Woergoetter said.
http://news.yahoo.com/s/nm/20070713/sc_nm/robot_walking_dc
PS yeah, F the swiss!
ABB listed by SEC over business with 'rogue states'
07.01.07, 10:30 AM ET
ZURICH (Thomson Financial) - Syngenta AG, ABB Ltd and Credit Suisse Group have been listed by the US stock exchange commission SEC among a number of international corporations that entertain business ties with 'rogue states', including Syria, North Korea, Cuba, Iran and Sudan, Swiss Sunday paper SonntagsZeitung reported.
'We are being punished for our transparency,' the newspaper cited a Syngenta (nyse: SYT - news - people ) spokesman as saying.
However, the agribusiness firm has no plans to change its business policy, he added.
A spokesman for engineering firm ABB (nyse: ABB - news - people ) said that the company may re-think its business relations with Iran should US sanction policy change.
According to a Credit Suisse spokesman, it has been the bank's policy since 2005 not to enter into new business relations with clients from the five countries.
TFN.Zurich.thompson@thomson.com
http://www.forbes.com/markets/feeds/afx/2007/07/01/afx3874920.html
if you are suggesting that funds don't short ahead of PIPEs, including convertibles, you may benefit from visiting this site:
http://www.sec.gov/litigation/litreleases.shtml
and if shorting was not an issue with this sort of financing, why even have the promise to not short the stock, and then declare as much in a PR? there is plenty of documentation out there of funds shorting ahead of a conversion and then "covering" the sale with shares subsequently delivered to them by the issuer. for example, google "Jeffrey Thorp."
FYI: a CEO who seems to have not held his professional obligations in such high regard.
thoughts?
http://abclocal.go.com/ktrk/story?section=local&id=5478707
Former Houston CEO indicted in stock scheme
(7/13/07 - HOUSTON) - The former chief executive of a now defunct Houston-based oil and gas company has been indicted on charges he devised a scheme to inflate the price and trading volume of his company's stock, federal prosecutors said Friday.
John N. Ehrman, 52, the former CEO of Rocky Mountain Energy Corp. is charged in a 13-count indictment with securities fraud and making false filings to the Securities and Exchange Commission.
Ehrman, of the Houston suburb The Woodlands, was arrested by FBI agents Friday morning and made his initial court appearance later in the day. His bond was set at $100,000.
His attorney, Donald Petrillo, declined to comment on the charges.
According to the indictment, Ehrman is accused of 10 counts of securities fraud for devising a scheme to inflate the price and trading volume of Rocky Mountain stock. He planned to profit by selling and directing others to sell and transfer shares issued under an obscure exemption to the registration provisions of federal securities laws, the indictment claims.
In the scheme, Ehrman allegedly signed separate agreements on behalf of Rocky Mountain to acquire small privately held oil and gas companies, or parts of the companies, in exchange for Rocky Mountain stock.
A Utah court issued orders finding that Rocky Mountain's plans to issue and exchange shares were fair to shareholders and owners of the acquired companies and did not constitute a public securities offering by Rocky Mountain.
The indictment alleges Ehrman caused Rocky Mountain to issue more than 46 million shares that had not been registered with the SEC. As part of the scheme, Ehrman caused Rocky Mountain to make false and misleading statements to the investing public, according to the indictment.
Ehrman allegedly received about $500,000 in proceeds from sales of Rocky Mountain shares during the scheme, which the indictment says took place between June 1, 2002 and April 3, 2003.
Ehrman also allegedly caused Rocky Mountain to not disclose to the public that the company issued tens of millions of shares of stock, which diluted the value of shares held by investors. Investors allegedly lost approximately $1.1 million during the scheme.
Ehrman is also accused of three counts of making false and misleading statements in reports and documents filed with the SEC.
He faces up to 20 years in prison and a fine of up to $5 million if convicted.
Ehrman's indictment comes after the SEC prevailed in a civil complaint it had filed in 2003 against Rocky Mountain Energy and several company officials for false and misleading statements they made regarding the company's business and its operations.
As part of the civil complaint, Rocky Mountain Energy terminated all business operations and had all of its corporate assets liquidated so that shareholders who had lost money in the scheme could be compensated, according to court records.
Making more protective combat vehicles
Photo by Jim Wilson, New York Times -- An early model Cougar, right, led a group of U.S. soldiers in Hit, Iraq, as they searched for roadside bombs in July 2006. Hundreds of such Cougars and RG-31s have been deployed in Iraq and Afghanistan.
Military contractors are in a race to deploy a new generation of combat vehicles that are more capable of keeping troops overseas safe from the daily onslaught of deadly IEDs.
By Dee DePass, Star Tribune
When Army supply Sgt. Angela Blaze-Green was first deployed to Iraq in 2003, an improvised explosive device went off right outside her base, killing four U.S. soldiers, including one from her brigade.
Troops responded to the threat with some improvisation of their own, she recalls. "We just had regular Humvees, and we welded on steel doors."
The jury-rigged armor hasn't stopped the explosive devices, called IEDs for short, from becoming the insurgents' major weapon. The number of U.S. servicemen and women killed by IEDs in Iraq and Afghanistan has swelled to 1,950, roughly half the total combat deaths.
An estimated 10,000 U.S. soldiers and Marines have been wounded as a result of IEDs. Pete Roland, spokesman for the Joint Munitions Command in Picatinny, N.J., concedes that the numbers are "shocking."
Now U.S. military contractors are in a race to deploy a new generation of combat vehicles that are more capable of protecting troops.
The vehicles' task is to stand up to the land mines, bombs and artillery shells commonly used in IEDs. Meanwhile, Alliant Techsystems Inc. of Edina, English firm BAE Systems, General Dynamics in Virginia and even robot makers at the University of Minnesota are developing new technology that can jam, detonate, drive over or scope out IEDs before they are set off.
"The Department of Defense has a huge effort underway and is looking at a lot of different technologies," Roland said. "There is a lot of stuff going on, and an awful lot is classified."
Plenty of moviegoers have already gotten a look at one of the new combat vehicles, however: Dubbed the "Buffalo," it appears in the "Transformers" movie that was released this month.
Blaze-Green, 25, is the mother of an infant and a 2-year-old. Starting her training next month for her third deployment to Iraq, she welcomed the idea of having something to shield her other than a Humvee. "If you can become confident in your equipment, your confidence is raised. ... It gives us something to look forward to," she said.
Of the roughly 70,000 military Humvees in Iraq, fewer than half have extra armor protection. That means they can withstand gunfire but are vulnerable to IEDs.
A $7.6 billion effort
But now, more than $7.6 billion in federal money is being allocated to IED defense.
"One of the biggest efforts underway is to try to stay agile in our tactics and our acquisitions. That is hard for us to do," said U.S. Rep. John Kline, R-Minn., a retired Marine colonel who serves on the House Armed Services Committee. "We are a big, powerful country with a big, very bureaucratic, laborious, acquisition process. It just takes years and years for us to buy things. But we are trying to buy things in days and weeks so we can get them in the field."
Alliant Techsystems is working to field a microwave-based IED detonation system. Last fall, the University of Minnesota's center for distributed robotics received $1.95 million to perfect its "throwable" Scout, a 4-inch remote-controlled robot camera that is now being used in Iraq. Outside of Minnesota, BAE Systems and General Dynamics are deploying IED signal jammers. The Army Research Lab in Maryland recently built and fielded a bomb-stopping shield designed for vulnerable Humvees. While it is one solution, the extreme weight of the shield wasn't designed for a regular Humvee.
BAE Systems, which has facilities in Fridley, New Hampshire, Pennsylvania and Virginia, recently built and shipped 45 "mine rollers" to Iraq and Afghanistan. The contraptions, which are hitched to the front of a convoy's lead truck, use 12-foot-wide metal plates that roll on castors and swivel from side to side. The plates roll over and detonate IEDs just ahead of military supply convoys.
"We got feedback from soldiers [and Marines] that their lives have been saved by the mine-roller system. It works," BAE spokesman Doug Coffey said. The company last week got a $3.4 million order for dozens more of the devices.
Earlier this month, BAE received a contract to build 441 vehicles with V-shaped hulls that can withstand a powerful blast from below and deflect the explosive's power away from the vehicle's passengers.
Known as Mine Resistant Ambush Protection Vehicles, or MRAPs, BAE and at least four other defense firms are building versions of the four- to six-wheeled successors for the Humvee. Congress appropriated $3 billion last year and is offering $4.6 billion more for fiscal 2008, with the goal of eventually fielding 17,000 of the blast-resistant vehicles.
"The Marines have taken a fairly aggressive approach to award contracts," Coffey said. "We have told the government that we can ramp up to building 60 a day by mid-year next year. But the urgency right now is to rapidly field the MRAPs. It's the secretary of defense's highest priority. ... The intent is to rapidly replace the Humvees that are in theater right now."
General Dynamics and South Carolina-based Force Protection won contracts in November, April and June to jointly make 1,655 "Cougar" MRAPs by the end of 2008. The partners sent their first shipment to the Marines two weeks ago.
The vehicles cost $500,000 to $800,000 each, depending on size and weight.
"We have built hundreds of these vehicles [and] we are in partnerships with General Dynamics, Armor Holdings and Textron that will allow us to get up to deliveries of 1,000 a month as of the spring of 2008," said Michael Aldrich, vice president of Force Protection's marketing and government relations. "It's a rather steep ramp-up that we are creating. That will make a significant difference in how the enemy treats us."
For Blaze-Green's father, Carl Riley, who lives in Bloomington, the new technologies can't be in place soon enough.
"I just pray that she gets there and comes back, because my little grandchildren need her. That's the bottom line. They need her," he said. "And the idea of her not being able to be there with them ... it's a hurting feeling."
Dee DePass • 612-673-7725 • ddepass@startribune.com
http://www.startribune.com/535/story/1301468.html
perhaps their "no shorting" promise was a strategic response to the SEC's recent Reg. M-based enforcement cases? can't help but wonder who did all that shorting in August 2006, right after this PR BS:
The funds will be used to fuel the growth of the Company, in particular the sales and marketing of the new URC3 robotic controller for Robotic Workspace Technologies, Inc. and the sales and marketing initiatives for the Mesa product line of unmanned robotic vehicles into the homeland security, first responders and military markets. Additionally, funds may be used for future growth through acquisitions and continued product development.
"We looked at our capital requirement and decided it was a better value proposition to the Company and its stockholders to raise the money at a fixed price rather than relying on selling our stock into the market," states Walter K. Weisel, Chairman and CEO of Innova Holdings. "We are fortunate to have built a strong relationship with Cornell based on the progress of the Company and Cornell is willing to make this additional investment based on our opportunities and projections. We believe that our strong partnership with Cornell will provide the funding necessary to fuel our growth, and in particular support sales and marketing. We represent the Mesa Robotics product line for which we have exclusive worldwide rights through the Innova Robotics subsidiary. We are booking orders and ramping up marketing for the URC3 product within the Robotic Workspace Technologies, Inc. (RWT) subsidiary, and we are planning the expansion of the CoroWare subsidiary which supports the application of mobile robotics and offers web-based services and other software business solutions."
David Ratzker, Vice President for Cornell said, "We are very excited about expanding our relationship with Innova Holdings in its very exciting market sectors, and to provide the funding to help the Company implement its strategic actions."
http://www.marketwire.com/2.0/release.do?id=694687
yeah, i don't doubt they were "very excited about expanding."
if you meant that Cornell was already the target of an SEC probe before Innova announced the "fixed" at $.40 pps no-shorting financing, then yes, i would agree.
Dec. 2005 http://www.thestreet.com/i/markets/matthewgoldstein/10255157.html
July 2006 http://www.marketwire.com/2.0/release.do?id=694687
wonder how that SEC investigation of Cornell is going?
Another Hedge Fund Discloses PIPEs Probe
By Matthew Goldstein
Senior Writer
12/1/2005 7:12 AM EST
Cornell Capital Partners, a hedge fund that specializes in finance for ailing penny-stock companies, is being investigated by securities regulators for its trading activity in shares of nine companies.
The Jersey City, N.J.-based hedge fund, which has more than $200 million in assets, disclosed the investigation in its most recent audited financial statement, a copy of which was obtained by TheStreet.com. Copies of the hedge fund's 2004 financial statement were mailed to Cornell investors in late August.
The Securities and Exchange Commission investigation of Cornell stems from a broad-based regulatory inquiry into allegations of manipulative trading in the $17 billion-a-year market for PIPEs, the Wall Street acronym for private investment in public equity.
For the past two years, securities regulators have been looking into the activities of hedge funds that invest in PIPEs and the brokerages that help arrange these private stock sales for companies in desperate need of cash. TheStreet.com previously reported that at least three other hedge funds -- HBK Investments, Gryphon Partners and Alexandra Investment Management -- are being investigated by regulators.
PIPEs are a popular financing route for tiny, cash-strapped companies, which raise money by selling discounted shares to investors in a privately negotiated transaction. But the ability of a big trader to purchase thousands of shares of discounted stock also makes the PIPEs market ripe for abuse by unethical short-sellers -- traders who bet a stock will decline in price.
Mark Angelo, the founder and president of Cornell, says regulators haven't told him they've found any wrongdoing involving the hedge fund. Angelo says Cornell is probably being investigated because it's a major PIPEs player and is involved in so many deals each year.
"I think they're looking at all people in the PIPEs space,"' says Angelo. "Most of our investors view it as non-issue."
Since its inception in 2001, Cornell has provided financing to more than 120 speculative, mostly money-losing companies, many of which trade shares on the over-the-counter Bulletin Board. In the third quarter of this year, Cornell was the ninth most active PIPEs investor, sinking $38 million into 10 different deals, according to PlacementTracker, a private placement research firm.
The PIPEs market has been a profitable niche for Cornell. In 2004, it realized a $20 million net gain on investments, according to the financial statement. It took in another $3.4 million in investment income.
The investigation of Cornell began in July 2004 with the SEC requesting information about its "funding of and trading" in shares of Bio-One, a defunct nutritional supplement company that had operated out of Winter Springs, Fla. Cornell had been the primary investor in two PIPEs deals that raised $25 million for Bio-One and enabled the company to make two small acquisitions.
By this summer, the SEC investigation had expanded to include eight other companies Cornell had invested in. The audit doesn't disclose the names of the other companies. However, the 13-page report notes that Cornell received a subpoena from the SEC on July 18, 2005, seeking documents "related to the funding of and trading in the common stock of Bio-One and eight other portfolio companies in which the partnership is invested."
Two months ago, the SEC reached a settlement with Bio-One over allegations that its financial statements failed to disclose an August 2004 default on a $15 million promissory note to a company it had acquired earlier that year.
Angelo says the SEC began investigating Cornell because it had provided financing to Bio-One. But he says Bio-One company kept the default on the promissory note hidden from Cornell, too.
"We have no idea why we were named in this, other than that we are an investor," says Angelo. "I have no idea why we were named."
Angelo declined to discuss the eight other companies the SEC has asked for information about. An SEC spokesman declined to comment.
One of the allegations regulators are looking at in the PIPEs probe is that some hedge funds routinely shorted a stock once they learned a PIPEs deal was in the works. Regulators contend that such premature short trades are illegal, because knowledge of such deals is confidential, nonpublic information.
It's not uncommon for stocks of companies doing PIPEs deals to drop in price after it becomes public that the company has sold thousands of shares at a discount.
Hedge funds, however, aren't the only target of the investigation, which is being coordinated with the National Association of Securities Dealers and in some instances, the Department of Justice. Investigators also have targeted brokerage firms that serve as placement agents for PIPEs deals by lining up investors.
To date, the broad-based inquiry has led to the criminal conviction of a former SG Cowen managing director on insider trading charges, and a $1.45 million civil settlement with a former First New York Securities hedge fund manager. Emanuel Friedman, former co-CEO of Friedman Billings Ramsey (FBR:NYSE), also faces potential civil charges, as does the investment firm he co-founded.
Other Wall Street firms that face potential regulatory action arising from the probe include Knight Trading (NITE:Nasdaq) and Refco (RFXCQ:Other OTC), the scandal-tarred commodity and derivatives brokerage.
http://www.thestreet.com/i/markets/matthewgoldstein/10255157.html
makes one wonder about that "shareholder friendly" approach of Ft Myers Murphy, eh?
what chance would weisel have had selling the reverse-split to shareholders if they had been honest about the "fixed" at $.40 pps no-shorting Cornell financing?
speaking of shorting, check out the reported short data from that time frame:
IVHG Short Interest for August 2006
Short Interest = 461,461 (that's 4.6M split-adjusted)
Percent Change = 8,891.84
Average Daily Share Volume = 3,583,213
Days to Cover = 1.00
http://investorshub.advfn.com/boards/read_msg.asp?message_id=16673990
former seems more likely than latter IMO.
weo said that weisel told him some time in May 2007 (before being ex-communicated by Ft Myers) that he "likes" their Cornell relationship, or something like that. whattaguy.
http://investorshub.advfn.com/boards/read_msg.asp?Message_id=19548997
according to Vickers at least one insider was dumping recently at about double the current pps.
Jun 13, 2007 (Vickers Stock Research via COMTEX) -- Document Processing Date: June 12, 2007
Filer: ALTOS BLUMBERG PARTNERS Relation:
Stock Name: Innova Robotics and Automati Stock CUSIP: 457694107
Stock Symbol: INRA Exchange: OTC
Transaction date: May 29, 2007 Shares for sale: 400000 Value held: $44000
Heyyyyyyyyy Joe.
The company claimed the Cornell financing was "fixed" at $.40 pps (split-adjusted) and that Cornell would not short the stock.
http://www.marketwire.com/2.0/release.do?id=694687
http://investorshub.advfn.com/boards/read_msg.asp?Message_id=19867098
Now, it seems to me that a guy who is obviously pushing a Russian diamond scam all over iHub really shouldn't come on other boards and slam shareholders who got tricked by PR BS. Seriously, you have been aggessively touting a non-reporting pink run by these guys:
get real.
http://investorshub.advfn.com/boards/profile.asp?User=76698
he can write 5, 50, 500, or 5000 words that respond to my narrowly framed inquiry, or nothing at all.
that's entirely up to him.
and i'm not so sure that my question necessarily contemplates the stock market at all. in fact, the CEO of a privately held concern could also write his/her views on professional ethics, without ever coming anywhere near the topic of the public capital markets.
you noted that you consider your professional responsibilities to be sacred.
based on that stated value, ethos, or however one would like to characterize it, i'd like to read an essay, musings, observations, etc., from you regarding the behavior (convicted and/or alleged) of former executives like Conrad Black, Bernie Ebbers, Ken Lay, Phillip Bennett, Joe Nacchio, various Rigas family members, etc., etc.
perhaps others might also want a window into your philosophies on that subject, in as general or specific terms as you might like to write.
tia.
PS sorry to see your supposedly "duplicate" board got the iHub axe.
June 2007 reported open short interest = 37,249
didn't Cornell promise not to short?
http://otcbb.com/asp/OTCE_Short_Interest.asp
INNOVA ROBOTICS & AU (INRA) OTC Type: OTCBB
June 2007
Short Interest
37,249
Interest Percent Change
100.00
Average Daily Share Volume
188,987
Days to Cover
1.00
link back to prior post for earlier INRA short sales data... btw, May 2007 shares reported short was -0-
OTCBB Biggest % Losers
otcbb/otc/pinksheet/daily/report/Fri Jul 13 16:01:06 EDT 2007
http://66.201.236.134/export/n_letter/gen/Microcap_Recap_Report_13_July_2007.html
From $0.01 – 1.00 that have traded minimum 10,000 shares
Symbols Company Name % Change $ Change Vol. Last Price
SSVG SSVG -45.95
-0.0170
151,700 0.0200
VGWA VGWA -34.00
-0.1700
100,440 0.3300
AGWT AGWT -32.50
-0.0130
39,500 0.0270
MILL MILL -28.41
-0.1250
17,593 0.3150
CCCN CCCN -28.00
-0.0700
64,196 0.1800
ASWRF ASWRF -27.27
-0.0270
46,500 0.0720
WBTO WBTO -26.19
-0.0550
1,700,689 0.1550
EXCS EXCS -25.93
-0.0070
337,386 0.0200
AOTL AOTL -25.00
-0.0050
418,167 0.0150
IMTS IMTS -25.00
-0.0050
734,000 0.0150
INRA INRA -23.08
-0.0150
152,625 0.0500
ZFPI ZFPI -21.11
-0.0190
35,000 0.0710
PPMC PPMC -20.91
-0.0092
763,000 0.0348
BRVO BRVO -20.53
-0.0031
7,840,613 0.0120
ISSGW ISSGW -20.31
-0.1300
40,000 0.5100
NXRA NXRA -20.00
-0.0400
40,300 0.1600
CWDW CWDW -20.00
-0.0025
70,183 0.0100
FDRA FDRA -19.67
-0.0590
312,400 0.2410
CGCO CGCO -19.23
-0.0250
20,000 0.1050
APXR APXR -18.45
-0.0181
1,314,860 0.0800
CLYP - eom.
wasn't Carlin on the CTEX ask almost all the way down post-split?
Carlin Equities, LLC (CRD #31295, New York, New York) submitted a Letter of Acceptance, Waiver and Consent in which the firm was censured, fined $77,000 and required to revise its written supervisory procedures regarding NASD membership and registration rules 1021 and 1031, NASD Marketplace Rule 2320 (crossing customer orders), NASD Marketplace Rule 6130 (short sale indicator reporting), NASD Conduct Rule 3370 (affirmative determination), NASD Marketplace Rule 6541 (order handling), NASD Conduct Rule 2320 (three quote rule), NASD Marketplace Rule 4632 (third-party trade reporting), SEC Rule 200, NASD Conduct Rule 3110 and NASD Marketplace Rule 6130 (short sales), NASD Marketplace Rule 6955 (OATS), SEC Rules 17a-3 and 17a-4 (books and records), SEC Rule 605 (disclosure of order execution information) and Chinese Walls. Without admitting or denying the findings, the firm consented to the described sanctions and to the entry of findings that it accepted or effected customer short sale orders in securities and for each order, failed to make/annotate an affirmative determination that the firm would receive delivery of the securities on the customer's behalf or that the firm could borrow the securities on the customer's behalf for delivery by settlement date. The findings stated that the firm reported through the NASDAQ Market Center or the Trade Reporting & Comparison Service (TRACS) a last sale report of a transaction in NASDAQ National Market securities it was not required to report; failed to report last sale reports of transactions in NASDAQ securities; incorrectly designated a last sale report of a transaction in a NASDAQ security as ".PRP"; failed to report the correct symbol indicating whether a transaction was a buy, sell, sell short, sell short exempt or cross for a transaction in an eligible security ; reported last sale reports of transactions in OTC equity securities it was not required to report; failed to report last sale reports of transactions in OTC equity securities; and failed to make available reports on the covered orders in national market system securities that it received for execution from any person. The findings also stated that the firm failed to report to the NASDAQ Market Center the correct symbol indicating whether it executed transactions in eligible securities in a principal or agency capacity; failed to submit required information to OATS; and failed to provide written notification disclosing to its customers that transactions were executed at an average price, the correct capacity in the transactions and that it was a market maker in each security. The findings also included that the firm failed to show the execution time on brokerage order memoranda, failed to document the customer name or account number of brokerage order memoranda and failed to preserve for not less than three years, the first two in an accessible place, a brokerage order memorandum.
NASD found that the firm's supervisory system did not provide for supervision reasonably designed to achieve compliance with securities laws, regulations and NASD rules concerning NASD membership and registration rules 1021 and 1031, NASD Marketplace Rule 2320 (crossing customer orders), NASD Marketplace Rule 6130 (short sale indicator reporting), NASD Conduct Rule 3370 (affirmative determination), NASD Marketplace Rule 6541 (order handling), NASD Conduct Rule 2320 (three quote rule), NASD Marketplace Rule 4632 (third-party trade reporting), SEC Rule 200, NASD Conduct Rule 3110 and NASD Marketplace Rule 6130 (short sales), NASD Marketplace Rule 6955 (OATS), SEC Rules 17a-3 and 17a-4 (books and records), SEC Rule 605 (disclosure of order execution information) and Chinese Walls. NASD also found that the firm failed to enforce its written supervisory procedures concerning NASD Rules 2320, 3350, 3370, 6955 and SEC Rules 202 and 202T. In addition, NASD determined that the firm transmitted Route or Combined Order/Route reports that contained inaccurate, incomplete or improperly formatted data to OATS. Moreover, NASD found that the firm submitted reports with respect to equity securities traded on the NASDAQ Stock Market that were not in the NASD-prescribed electronic form to OATS. The OATS system rejected the reports and notice of such rejection was made available to the firm on the OATS Web site, but the firm did not correct or replace most of the reports. (NASD Case #20042000248-01)
http://www.nasd.com/web/groups/enforcement/documents/monthly_disciplinary_actions/nasdw_018923.pdf
is there a question in there?
the UAC is the "Universal Automation Controller," though IMO the company has not really done much to educate the public on how it differs from the "Universal Robotic Controller."
interestingly enough, the UAC and iterations of "Universal Automation Controller" are not present in the rwt.com meta tags, neither are "innova," "coroware," "battlescript," "arcscript," "corobot," etc. however, the meta tags "weisel," and "walt weisel," are both present, along with "florida," and the ever important relic, "prab." and "fanuc" is so nice they included it twice.
Meta Keywords:
abb, accurate, accuracy, adept, antenen, application, arm, arms, articulated, asea, asea, assembly, assembly line, automation, axis, axes, automatix, cincinnati, cincinnati milacron, comau, coating, control, controls, controller, controllers, consulting, engineering, factory, factory automation, fanuc, fanuc, first, florida, gantry, ge, gmf, hitachi, hobart, homeland, homeland security, hubble, ibm, industrial, industrial automation, integration, improve, inventory, kawasaki, kuka, machine, machine loading, machine vision, material handling, microsoft, milacron, military, motion, motion control, motoman, nachi, nasa, new, painting, palletizing, parts, panarobo, panasonic, pc, pc control, pc based control, plc, pick and place, prab, precise, precision, production, puma, purchase, quality, manufactured, rebuilt, refurbished, reliable, reliability, robot, robot arm, robotic arm, robotics, robot control, robot controller, robot parts, robots, robotscript, robotscript, robot script, robotics, sale, scara, scara, scara robot, sell, seiko, service, service robots, service robotics, servo, spare, spare parts, spray, systems, systems integration, system integrators, telescope, thermal, thermal spray, used, used robot, used robots, united states, us, urc, universal robot controller, vision, vision guided, warranty, weisel, walt weisel, welding, windows, workcell, yaskawa, six-axis, four-axis, six-axes, four-axes, 6 axis, 4 axis, 3 axis
http://whois.domaintools.com/rwt.com
wonder if they ever make any money on the sales of either URCs or UACs? see if you can find out what the margins are on the sale of these UAC and URC units, and while you're at it, see if you can find out what happened with Brainerd Communicators.
of course, all of that is assuming that they have actually sold any UAC units, which we have discussed before as possibly also being called the "AL." perhaps that L&M sale was a UAC?
http://www.marketwire.com/2.0/release.do?id=737543
SOURCE: Innova Robotics & Automation, Inc.
May 29, 2007 12:57 ET
LM Industrial Places First Order for Innova Robotics & Automation's "AL"
New PC Controller From Altronics Service Subsidiary Enables Fully Functional Automation Lines
Innova Holdings, Inc.
FORT MYERS, FL--(Marketwire - May 29, 2007) - Innova Robotics & Automation, Inc. (OTCBB: INRA), a robotics technology firm, today announced that LM Industrial, Inc. has placed the first order for the newly unveiled "AL" controller through the company's Altronics Service subsidiary. AL will be implemented to increase the productivity and value of the Orlando-based industrial metal fabricator's CNC (Computer Numerically Controlled) plasma punch.
Innova will provide training on the use of AL while installing new drive motors, a CNC controller, cabinet, and PC at LM Industrial. Product testing will also be conducted during the initial implementation. Once installed, AL will essentially bring new life to the existing equipment allowing the Altronics customer to use the equipment more efficiently for the punching and shape burning of steel products it delivers to Original Equipment Manufacturers (OEMs) and other customers.
"We are looking forward to upgrading our plasma punch with AL. Because AL is a PC controller, it will help increase productivity by shortening our set-up time. With AL, we will have all the tools we need at our fingertips to write and change programs directly on the machine," said Tim McGinnis, owner of LM Industrial, Inc. "Currently, changes to the programs are written on a computer in the office, saved to a disc, walked over to the machine, and copied into the outdated controller. If even the smallest change is required, we do it all over again."
McGinnis continued, "We have been extremely impressed with Altronics' level of customer service to date, and are excited that the Company is now bringing control of the various aspects of our production process by bridging outdated machinery with new technology."
Designed to meet the growing complex maintenance and production requirements of manufacturers, the new AL controller is an industrial PC-based CNC controller that can be networked with other PC equipment. AL is easily integrated with automation equipment such as Programmable Logic Controls (PLCs) and CNCs. Key capabilities and benefits of AL include state-of-the-art electronics, a PC-based controller with Microsoft Windows XP, an easy-to-use touch screen, a fully functioning control panel, and full networking capabilities thru Ethernet, PROFIBUS, CANopen, and DeviceNET for downloading programs and uploading production information. A plasma cutting interface is also standard.
"Innova recently acquired Altronics Service to widen the range of service, training, and maintenance solutions it provides," said Ken Vanden Berg, COO and CFO of Innova Robotics & Automation. "We are thrilled to see our newest subsidiary already increasing our product offerings with AL, and pleased to be expanding business with an existing customer that expressed early interest in this automation manufacturing solution. New orders like these are key to fulfilling Innova's growth strategy."
Altronics' products offer a practical and economical solution to manufacturing floors using Whitney Punch Presses. The Company has a strong position in the controls market, with over 1,200 accounts located throughout the U.S., Canada, Mexico, and Great Britain that include small and mid-sized companies as well as companies listed on the Fortune 500.
About Innova Robotics & Automation, Inc.
Fort Myers, Fla.-based Innova Robotics & Automation (OTCBB: INRA) pioneers innovative control and communication solutions that make robotics and automated systems more productive, powerful, and profitable for customers in the telecommunications, manufacturing, aerospace, research, and service industries. The company is chartered to continue expanding its growing suite of technologies through acquisitions and organic growth. Innova operates through four subsidiaries, Robotic Workspace Technologies (RWT), CoroWare Technologies, Altronics Service, and Innova Robotics, which offer convergent technology and expertise that bridges robots, CNC machines, facilities, and business systems for greater functionality and ROA. Visit Innova online at www.InnovaRoboticsAutomation.com.
The names of actual companies and products mentioned herein may be the trademarks of their respective owners.
MEDIA CONTACT
Jennifer Gery
Brainerd Communicators
(212) 986-6667
gery@braincomm.com
INVESTOR CONTACT
Todd St. Onge
Brainerd Communicators
(212) 986-6667
stonge@braincomm.com
Time & Sales
Price Size Exch Time
t 0.051 25000 OBB 17:45:41
t 0.058 3375 OBB 17:45:40
t 0.051 5000 OBB 17:42:25
t 0.051 5000 OBB 17:42:24
t 0.055 5000 OBB 17:40:33
t 0.055 10000 OBB 17:37:36
bizarre - "t" trades being booked at a quarter to six on a friday evening in July?
my impression is that the passage you posted related at least in part to Mesa -- see some of my prior posts on that subject. think i've also posted some stuff elsewhere about the concept of centralized and distributed control. it has all sorts of beneficial applications well beyond warfare. For example, think Roomba-like devices roaming all over the corridors of a large building (like a mall or hospital) under common control performing various security functions.
it seems that in an MSRS bot world, this concept could become important. thankfully weisel is a "friend of Bill Gates"!
wish Mr. Fun was still posting here because this seems like a topic he could really handle far better than me.
they didn't really spell proposition, "propisition," or did they? well, the i and the o are right next to each other on the keyboard.