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As I stated in my post of 4/07/14, I think TG must have high expectations of Torvec or he wouldn't have done what he did.
Someone asked great questions at last year's annual meeting. "Why aren't the board members buying the stock?" "Don't you believe in what we have?" "It's only 58 cents a share." I guess they knew we were going to run out of cash unless TG put in another ton of money. Now that he's done that, here's their chance.
Best news I've heard lately is that a successful billionaire real businessman financed this company and has taken control away from a family of non-businessmen that almost drove it into bankruptcy.
That's probably what they said about TG when he started his company and again when he invested in Pictometry.
To quote Vince Lombardi "Winners never quit and quitters never win." If TG and DK aren't quitting then neither am I.
The entire page 23 looks like good news to me. The update on the pump was also positive.
Let's hope that the sales and marketing strategy is changed. Whatever they're doing (or not doing) doesn't seem to be working. Do they need a public relations firm? They need something. Maybe if TG asks the tough questions we can get to the bottom of the problem and solve it. Another year of no sales should be unacceptable to everyone.
I think the change in the 10k should have been noted. For example, "This timeframe is an estimate and may take up to six months longer than was previously reported."
Your quote is incorrect. The last line of your quote in the most recent 10k actually reads "....which we anticipate can occur in the LATTER part of 2014." Not mid-2014 as you have stated.
I think what DK means is that they went public way before they had something to sell. I believe he has 3 million shares or options on that many shares. Do you think he wants the company to go private? I think not. He has more to gain by creating earnings. If earnings are created, everybody wins.
He didn't say it should be private. He said it went public too fast.
If taking it private was his goal, why bother bringing in another $ 5 million? He could have simply let it run out of cash and kept all the patents. Makes no sense to me to take it private after keeping it going. I'm looking forward to the annual meeting. It would be great if the largest shareholder was there to explain his expectations of the future of this company. I'm guessing that his expectations are high or he wouldn't have done what he did, however, it would be nice to hear it from him.
They can't pay dividends unless they have earnings. If they have earnings, we will all be happy.
From what I saw, last year KG had 16..8% and TG had 26.4% of the voting shares. What are the percentages now?
Democrat & Chronicle has a short article on their internet site entitled "Golisano Buys Big Stake In Torvec."
I agree with Monty. This was announced last June and was necessary for survival. If TG didn't come through, we would have no further dilution but would own 100% of nothing. The fact that he and a few others have come through with $5 mill is good news. There's no way I'm selling.
Lots more room on the upside than the downside but this company must do more than just test. I think the new management is aware of the obvious and will make it happen.
Someone is offering to buy 41,000 shares at .32. Haven't seen a bid like that in awhile.
Obviously, absent a buyout, the stock price will go higher only if there are sales. I happen to believe that the sales will happen. Like everyone else, I hope it's sooner than later. If I didn't believe in the products, I would sell now. Unlike some others, I haven't held the stock very long so I am not discouraged yet. I fully understand others that are. Let's face it, this is a long shot, but a lot of long shot companies have paid off nicely for those that bought when others were reluctant; especially in Rochester. I will reassess after the annual meeting.
I don't care about the General. That, to me, is just a distraction. I just want to know when testing will finally be done and when this business will have sales. Anything else is immaterial.
I don't have a problem with paying a CFO to handle our finances. We actually HAVE finances that need to be handled. I have a problem if someone is being paid to handle sales and marketing when we don't have any sales or marketing.
The quarterly report this time is actually the annual report (10k vrs a 10q). It's historically reported within the first two weeks of March. Probably takes longer to complete than a 10q; hence the delay.
Maybe this can be explained at the annual meeting.
So.....If Torvec has no sales, are they paying someone to be in charge of sales?
So.....No one knows the answer to my question?
Could someone clarify something for me? Does Torvec have anything that is finished and for sale right now?
Why doesn't Torvec just license the hydraulic pump to a pump manufacturer and let them make and sell the pumps? Not ready yet? Not patented yet? Maybe Torvec could get a nice advance payment and they wouldn't need more funding.
I came across an interview on YouTube with DK from October 2012. For those who haven't seen it, it can be found searching YouTube with "Dick KaplanTorvec".
I saw her on TV. She said she drives a Cadillac during the week and a Corvette on the weekends. She also has an engineering background.
Started buying a little over a year ago. I've only been to one annual meeting.
A few observations. I see, according to a December SEC Form 8-K, that Mr. Labus has agreed to an additional one year extension on his contract with Torvec. That, seems to me, would be a positive thing. Also, According to two SEC Form 4's, one of the board members,GS, had a 10 year option to buy 100,000 shares of TOVC at $5 a share expire in October and appears to have been replaced in November with a 10 year option to buy 100,000 shares of TOVC at 36 cents a share. I don't know what to think about that. Any thoughts?
Test. New member to board.