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They probably aren't open market transactions. None of the others had the volume on the days of the transactions to cover the shares they received.
I wonder if they have to pay taxes on the salary conversions? They received something of monetary value in the transaction so I imagine the IRS would see it as income.
This is the important part.
Explanation of Responses:
1. Conversion of accrued salary into shares at 0.00012.
2. Conversion of Note dated January 2013 amount of $100,000 plus interest into shares at 0.00018.
2015?
That's not very exciting...
I had the same issue when I first tried to get a proper link to one of the PDF files.
The way I got it to work was on my phone but the basic process should be the same.
The download button is two stage. On the phone I had to touch the button once which gave me a drop down which had an icon for the file. I then did a long press which gave me a drop down menu where I could copy the link. A long press is basically the same as a right click on a PC.
If you have difficulty getting it to work just let me know which day is the right one and I'll tease out a good link for everyone to examine.
Perhaps December of 2013.
What zoning issue might the City be discussing? The City provided everything they could to help Ron get started. They did that long ago...
The ball was clearly in Ron's court and he didn't follow through.
You seem eager to drum up some excitement around here. Simply saying that something happened is pretty weak sauce. Showing everyone proof of what you said is more like spicy jalapeño.
If you can provide proof of what you say you might even sway the opinion of some of the old timers around here.
I'm just trying to help you out by pointing out where you could improve your technique.
As for the highlight. I'm using a Samsung Note. Makes stuff like that pretty easy.
If you are doing all this research then bragging about something why not provide a link to show everyone else what you found? If you are interested in telling everyone something why not show them too? Backing up one of your claims would do wonders for your credibility.
You cleared suggested in your last post that you knew that the city has had recent meetings where they discussed Solar Wind Energy. I have SERIOUS doubts that is the case.
Please, step up and provide proof for at least one of the things you claim.
Here is a direct link to the agenda for the zoning meeting. The page I linked to earlier said that it was for the 12th. That's probably the meeting that was rescheduled from the 10th.
No mention of Solar Wind Energy.
http://www.cityofsanluis.org/AgendaCenter/ViewFile/Agenda/01122016-302
There wasn't anything on the agenda for the meeting about Solar Wind Energy.
http://www.cityofsanluis.org/agendacenter
Why is it that you are always talking like you have knowledge that nobody else has but never actually provide any proof?
They've made plenty of money through convertible notes and paying themselves a salary.
Whatever they were doing with buying shares I have a feeling it was more about not being sued than potentially making progress.
Maybe they bought out a note holder that was growing impatient with getting their money back.
If you were to actually do a little DD rather than simply fantasizing about how this is going to be huge you'd have noticed that all of the people who had anything to do with the technical aspects of the patents don't have anything to do with the company anymore.
Plus, the patent for the tower itself is based on a small change to the inside of the structure. One that, in my opinion, makes construction immensely more complex and probably doesn't add any actual efficiency to the design.
There are other patents on downdraft towers. Those ain't been used for anything yet either. The patents are almost certainly worthless...
If you flip a coin three times in a row and it came up heads three times do you mortgage the house because you "know" that it'll be tails on the next flip? PAST EVENTS DO NOT INDICATE FUTURE EVENTS.
We do not know what is really going on with the Insider transactions. Just because they "appear to have" bought shares IT DOES NOT MEAN THAT THEY WILL DO IT AGAIN.
Didn't you say the same thing about 2016?
And 2015?
And 2014?
And 2013?
Ect...
Ect...
Rampant Stupidity?
$30,000 isn't really all that much money...
The truth is that nobody, outside of the company, knows what is really going on. The City of San Luis hasn't heard anything from Ron in quite awhile. If they were really preparing for construction, as you say, don't you think that Ron would be keeping the city informed?
The only thing that we know for sure is that the insider buying brought in a lot of money into the stock. That's a pretty predictable response. Isn't it possible that stimulating buying was the reason why they bought the shares?
Why didn't they buy the shares on the open market? Where did the shares come from? I think that the shares were bought directly from the company. If it was anyone else there would have been an F4 filled out for the other side of the transaction.
If the CEO is in total control of the company isn't that just moving money from one account to another? Isn't it still his money to spend however he wants? After all, they're not filling financial reports anymore. He can do anything he wants with the money.
Only thing I've seen the company do in the last few years is sell shares. Can you provide any evidence that they've done anything else?
Perhaps you can perform a little pseudo scientific test. Optimism at the level that you appear to have is probably the result of a prescription drug such as Prozac or Zoloft.
Stop taking your meds for a couple of weeks and see whether you feel the same. If you do then, at least, you can confidently cross the influence of mind altering drugs off the list of potential reasons why you have such strong optimism.
I've followed this ticker for quite a while. I've seen plenty of gullible dreamers pass through here during that time. I was one myself...
Reality usually eventually sinks in...
So the fact that you were mistaken about there actually being an office doesn't deter you in even the slightest?
Actually, it was one of the nay sayers who came up with that tidbit back when I was a true believer. It definitely stuck in my head as a warning sign.
Maybe you talked to a daughter, wife, or mother. The address they use is a flexible office. Basically a mail drop until actual space is needed for some activity. Phone number is a VOIP. It can easily be forwarded to a cell phone.
http://www.regus.com/office-space/united-states/maryland/annapolis/maryland-annapolis-annapolis-office-suites-plus
I think that is pretty much where things stand. SWET hasn't said anything in a very, very long time. IF (big if) there is ever another PR then DG could be considered to have been right.
If there ever is another PR then the game, whatever it may be, is still going on.
As much as I hate to say it...
Your not thinking, just hoping. There's a distinct and obvious difference.
You should have been thinking BEFORE the trade. Thinking now that you're stuck is only good as a learning experience.
If trading were easy everybody would be rich...
Perhaps you should Google up a definition of the term "open market".
You're using it wrong...
No, I think that you are in for a big surprise.
You're expecting something to happen. If something does then it's not such a surprise, right?
What if, as most everyone who has followed this ticker for a long time expect, nothing happens?
SURPRISE...
Welcome to the OTC land of outrageous ideas, broken promises, and shattered dreams.
WHY ARE YOU ALWAYS YELLING?
It's the Internet.
You don't have to to yell to be noticed.
Perhaps you should Google up the term convertible debenture.
There is NO open market buying by the insiders. Each and every share of the hundreds of millions bought lately were bought by traders.
I did...
Doesn't mean that my opinion has changed about the company. I'm just buying a lottery ticket just in case I'm wrong.
There just has to be a reason for those trades. I finally found a narrative that makes sense...
I guess I should listen to my own pessimism, but I fell victim to the greed once again. I took a 2 million share position just because I know I'd be REALLY pissed off at myself if I were wrong.
This excitement will probably die down in a few days. I'm planning on selling 1/2 @ 3 and buying it back at 1. At this point I'm stubborn enough to let it sit until either something happens or they sell the shell. Only thing is they'll probably do that damn reverse split before they sell to fix the share structure.
Meanwhile I'm busy learning to read technical analysis on the big boy exchanges.
I think I understand why BOTH stock transactions happened.
I think it went something like this.
Robert: Ron you owe me money. I've been trying in good faith to help you get this POS idea to work out. So far I've called hundreds of people but no matter what I say they are just laughing at me. I am not only getting frustrated, I'm REALLY tired of working for free. You need to pay me or I'm taking you to court.
Ron: Hang on. You don't have to take me to court you can accept shares of stock in place of wages.
Robert: Hang on. I refuse to accept shares in this POS company since there isn't enough interest in the stock for me to convert it to into cash quickly enough for me to buy wonderful Christmas gifts for my family. I want COLD HARD CASH. Pay up now or the next time I see you you'll be in a court room.
Ron: Yeah, I got too lazy to come up with any good PR's a long time ago. I ran out of ideas that would give "investors" false hopes but I'm not totally out ideas. I've been playing this game for most of my life. It's all about appearances. All I have to do is make it look like I bought a huge number of shares and people will throw their money into the stock thinking that they're going to be rich. People are VERY gullible. They'll be throwing their money away all the while thinking that they're smarter than everyone else. It's absolutely hilarious how it works. Watch and learn...
A few days later Robert agrees to accept shares instead of money.
Christmas is saved...
Doesn't it make you feel all warm and ANGRY INSIDE?
It's always interesting to see an enthusiastic bag holder...
Good luck with that...
There wasn't even any money that changed hands. It is a convertible note that can be considered as a private purchase. The P doesn't necessarily mean that it was open market.
There's also this on the Form 4.
"Robert P. Crabb acquired a convertible note in the principal amount of $20,000 in consideration of the forgiveness of accrued salary."
Robert Crabb only had 5,000,000 shares before this transaction.
You missed an important detail.
Convertible Debenture
Obviously Ron left that little box blank on his Form 4. It's pretty much guaranteed that both transactions are the same.
There may be money moving around but it's not flowing back to the retail investors. Both transactions were private. They were not open market. There is NO BUYBACK.
They're basically buying stock directly from the company that they have full control over. They're just moving money from one account to another.
Seems to be an inverse relationship with the share price. Number of shares go up and price goes down.
That's a whole lot of quaking and waddling.
This thing is either a duck or a share selling scheme. I just ain't sure which. I guess we'll just have to wait and see if it takes a crap.
The R/S was obviously intended to revive a failing share price. Note writers won't make deals unless they can get their money back. I suppose that Ron realized that it was a futile move unless he actually managed to do something meaningful.
The increase in the authorized shares may have given Ron enough room to write more notes since a 10% share world be 2 billion. Anything less doesn't have to be reported.
That raises a new question. With such an inflation of shares doesn't that mean that none of the insiders are required to actually file a form 4? Even Ron with his huge position falls short of the 10% rule. He wasn't required to file the last disclosure.
So if he wasn't required to file then why did he do it?
Ron's a smart stinky pinky CEO. He knows that a huge insider buy will sell a lot of shares.
Christmas at the Pickett household is saved. They're certain to have plenty of wonderful and expensive gifts under the tree. All bought and paid for by generous, and gullible, wanna be investors.
Well, it could be that he was given $200,000 by the shady note writers and the purchase was just to cause a little excitement for the note writers to sell into. Suddenly this POS goes from no bid to selling 200 million in a day. All because of the Form 4 that was filed.
Check the records. Ron likes writing notes for just below the threshold of the reporting requirements. We don't know where all those shares came from. There is a reason for that. Ron has purposely hidden transactions for the public.
The L2 looks really funny. Normally there are shares offered for sale in various places on the book. With SWET they're all right there on the first level of the ask. Apparently, nobody thinks it will go any higher. Everyone is desperately trying to sell ASAP.
Disclosure - I do have a position in the stock. I put in a few hundred dollars just in case I'm wrong.
The truth is that nobody but Ron really knows what is going on. He hasn't bothered to provide any information for quite some time.
Without actual news there is no reason for this stock to move.
I think I saw a couple of Dolphin swirling around with the whales.
What a great view we have here at the bottom of the drain.
Like I said...
Drink one for me...
I'm driving a truck for a living.
No drunkenness for me...
Actually, I did take a small position.
I'm up $25 on $350
I've been monitoring this stock for a couple of years. I used to be an optimist but time, share price, and reality eventually turned my opinion.
Don't the bears still own the board?
Last I checked all of the mod positions were nay sayers.
I guess there's the overseers to worry about.
I hardly ever have a post snipped anymore. Back in the day I was usually close to getting myself banned most of the time.
Times have a tendency to change...
I been here awhile...
You just got here
I'll do as I please...
Someone has to balance the drunken stupidity that passes as due diligence around here.