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Dart, ETLT is confusing to me. I've spent some time to re-review my assessment on ETLT.. it is still seems to good to be true.. yet, I can't make myself sell this loser (as of now it seems to be another loser).. valuation is so cheap but then again if we will never see the money that Etlt has (cause it is sititng in china and protected by the govt) then what is it good for having an asset that you can't own.. absolutely nothing I guess...
I like to see the lawsuit actually.. that helps to clarify (put a presure on etlt to clarify things and set the record straight about their liquidity)
one quarter they said the govt has make the rule lenient and can use some of their $45M cash outside PRC (one even said they can start paying dividend if they want to up to $50K per year. I know that is not much at all but the gesture from the govt is good).. and then in the most recent quarter they said again that they can't use their cash outside usa and have to sell more stocks to pay usa obligation and then they said that they have reserved the lawsuit in USA.. but then the plaintiff said that they were told by etlt lawyer that they have no asset to cover the punitive damage... this is so confusing and conflicting.. one of them must be lying.. not sure if we will ever find out... I'm tired seeing them playing cat and mouse game but greed get the best of me and I'm still holding this sucker... and a lot of shares... all 130,000+ shares... if this one goes in the hole (due to fraud ala CXTI). I might retire from investing in china microcap... (AOB was probably the outliers for me that I have so much success investing on it. I still can't believe I don't get a penny gain on CXTI after a tenbagger.. live and learn I guess..)
another piece is that though ETLT know they have no cash to use outside usa they keep talking about making operation and business in USA.. I can't think in my mind on why they want to do that.. if they have $45M in china then use it in china and do business over there.. there are more than 1 billion people + over there more than 3 times of US population and the US economy is not in good condition either.. stop thinking to sell the etlt shares that is so cheap right now and to do business in USA... other people try to get business in China and yet they want to be out of china. and into USA. that is odd..
Also another thing is that why do they listed in US listing anyway (OTC BB reverse meger) and why not just list in shanghai index and be happy there.. maybe they want to help us US shareholder get rich? I hope so :) but not likely I guess... time will tell...
also how can they buy back stock using cash in china and then can sell stock and use the money in usa.. if they can do that then buy back more stocks with cash in china then sell in in usa and that way the dilution will be minimal..
there are so many things that just doesn't make sense with ETLT.. but if everything they said is true (can't be half true) have to be all true.. then we find ourself the best bargain of a long time (and sansar capital will be one of the big beneficiary of that)..
and where is etlt management ownership. they keep selling shares (from the S-2 filings). they need to buy instead or get it for free but they should hold the stock instead of dumping it (they might indeed hold but they do say they intend to sell in the sec filings). also if they do have 45M in cash why they keep paying emploiyee and consultant with shares.. I have concluded honesty is #1 trait that management needs to have but having common sense is #2 trait and it's not far behind than the #1 requirement.
I probably should forward this post to ETLT management and heron , their PR firm and give them a wake up call .. (and if they want to do fraud they shouold do it soon and get it over with)..
there I've said it.. (my frustration with ETLT)
sorry for the late reply btw Dart. I think at your age I think you shouldn't think too much about long term on stock but as long as you like/enjoy it then it's fine.. maybe I will do the same thing actually when I'm at your age... (if I'm lucky enough to live that long)...
I live not too far from you actually.. richmond virginia.. I like williamsburgh.. I often go to the outlet mall and also the busch garden (I got season ticket)...
Stan
Happy Birthday Dart!, and thanks for the update on ETLT (as I don't check ETLT RB that much anymore)
I know you're old by age now.. but someone told me that you are only as old as you feel inside...
I didn't buy or sell ETLT during te recent drop btw... we'll see what we will end up getting with that one.. we (or at least I) placed our chips on the table and time will tell...
I'm cautiously optimistic...
Stan
my take on 2008 Economy: Recession.
Yes, IMO, we will see recession sometime in 2008 regardless how much Fed will cut the rate.
Buffett and Munger said US economy (and banking) system is very resilient and can handle much more abuse than this. I agree to some extent. However, I think many people have act so irresponsibly regarding their spending and debt. They continue to spend what they don't have. Default on unsecured loan will increase a lot in 2008. Inflation will probably follow next in 2008. This default will partly a ripple effect from the housing bubble where people use their house as their piggy bank (continue to mine the equity in the house as the price goes up, and when the price goes down, the problem starts)
Having said that I want to also say that there are people who are in trouble for valid/unfortunate reason like health reason/event, divorce, etc.. but the rest are the irresponsible people who keep spending and in a way 'mortgaging' their future... and chasing instant gratification...
I always think that in some ways the economy (and the stock market to some extent) is a zero sum game. so I'm thinking who is on the other side of this mess (the people who are not paying their loans and mortgage). As we can see it's the company that give them the money (mortgage lender, banks), but if we look deeper those are the people who invest in those banks (shareholder, bondholder), also the rest of the people who save money (the net saver). Basically those who are investing (especially on the lenders) and no/few debt (those with net worth positive), are subsidizing those whoa re spending irresponsibly (who ended up not paying back).
They are subsidizing by either having their investment value dropping or having their cash buying power declining (due to inflation). I know this because I'm one of them subsidizing these spenders (net borrowers with negative net worth).
but does this mean these people are the loser/suckers. I don't believe so. Those who use more money than they deserve/earned (and charged it off) might feel they come ahead (which they probably do mathematically speaking), but I'm sure their life wouldn't be so peaceful (provided they have conscience), and probably not fun being chased by their lenders and debt collector.
In the end, we have free will that we can choose what kind of life we want to live.
I know I ramble a lot from the initial topic of the state of economy in 2008. So are you ready for recession in 2008? I know I am...
Stan
ETLT again, sorry for too many etlt post today..
from RB:
-------------
Annie was a bit shaken up when I asked her about this a few minutes after it was published I called again 40 minutes later and she said the lawyer was reviewing it. she acknowledged it was Western Securities I mentioned that Heron should come up with something on the website. I also suggested there was alot of concern out here...and that Sansar is reading he news as well....
She also acknowledged that there is a battle going
this is probably ego....like someone posted after the earnings release....see you in March 2007
-----------
Inconsistent description on legal use of cash by etlt. which one to believe , hard to tell. but seems an easy sell decision lloking at all this things/statement that doesn't make any sense. we'll see if ETLT will say anything tomorrow.
most recent filing
The Company has cash and bank balances of $45,634,503 which is more than sufficient to cover its PRC operations. However, if the Company is to expand outside the PRC, as it anticipates doing, or pay its non-PRC obligations, it will have to sell additional shares of its stock or borrow funds from third parties. Unless it is able to either borrow funds or sell additional shares, it will have insufficient resources to carry out its business objectives outside the PRC for the next twelve (12) months.
earlier this year additional clause was added:
However, because of the loosening of currency restrictions in the PRC, we can
pay our non-PRC obligations from funds held in China. Therefore, in the
opinion of management, we have sufficient funds to carry out our business plans
for the next twelve months.
rogue, I wholeheartedly agree now with what you said.
Glad that this happen to me now and not earlier or else I would have not have the courage to continue to invest.
Also good thing that ETLT is only a small portion of my portfolio now. I guess there are still things to be thankful for.
I earned my lesson t hrough CXTI ETLT and HSOA though.. very valuable and expensive lesson..
Stan
etlt 10QSB says:
The Company has cash and bank balances of $45,634,503 which is more than sufficient to cover its PRC operations. However, if the Company is to expand outside the PRC, as it anticipates doing, or pay its non-PRC obligations, it will have to sell additional shares of its stock or borrow funds from third parties. Unless it is able to either borrow funds or sell additional shares, it will have insufficient resources to carry out its business objectives outside the PRC for the next twelve (12) months.
well, we had our chances to book gain on ETLT.. lesson learned... now I really lost appetite to join the next PSL... :)
Stan
nelso, ETLT cash, they will come up wit some BS explanation tat te cash is located in Cina and not allowed (by the govt) to be used outside the company. but then later on tey said tey will buy back 5% of the company shares. as the stock tanks it seems logical to buy back now. if the anual report still shows the same outstanding shares ten I'm selling my shares. if they can't keep their promise (that they have control over wit) then I can't trust them...
missing earning is still understandable . but missing the buy back while they have $40M in cash is not acceptable.
if any of you also have etlt, I would also recommend you to sell once you see more of te bad news indicating that they are not telling the truth.. but for now.. let's hang tight...
Stan
dart39, thanks on ETLT. at this point I'm not sure who is the scammer. it could well be ETLT. there have been longstanding question weter they have the cash or not. from cxti experience, I now know that Auditor signing the balance sheet means squat.
but it's also true that with no risk it's hard to score a lot. so I'm swinging bigtime on ETLT hope I will score someday but the odds are getting smaller each day as it continue to dorp and one bad news after another.. I'm not selling however nor buying more.. if CEO or CFO resign then I'm dumping my shares...
if they can't pay that $700K , then you know for sure they are not telling the truth about their company situation. i was hoping ETLT will be similar stsory with AOB or HQS but with 0 institutioinal support it's ard to believe what they say/claimed to be.
Stan
OT: Bigpike, glad to hear everything works fine/better with your health now.
definitely help to keep things in perspective.
I'll pray for your recovery.
btw, do they (Mayo Clinic Doctors) ever tell you what the causes are (or how to prevent them). just curious and probably would like to follow those preventive measure.
Stan
WAG 12/04/07 3:45 PM
Lord, that is my suggestion for management adn I think they are doing it. The only thing that they didn't do (which is also part of my suggestion) is to not issue private placement like crazy. that created massive dilution as well as sending the message that they are not confident that they can raise money at that prices ($1, $1.6, $4.8 and $8.50) in the future.
Well I can udnerstand the $1 and $1.6 dilution as they were just small at that time and want to buy HSPL and HQPL. but once they get bigger they need ot be patient and grow with profit from operation.
Unless they do have some comapny that they want to acquire but for whatever reason they didn't (either lost the bidding war or don't see a fit for AOB). but either way they need to be more certain of the acquisition before rasing millions of dollars which will crate a drag for EPS if the money is not deployed .
having said that, I'd rather have the money sitting on their bank (like it is doing now) than spent on a bad acquisition.
However, I am still expecting them to probably buy at least one company per year for the next three years. (and hope they won't need to sell any more shares). the dilution should stop here.
I've been long on AOB for a long time and I'm still holding. My 3 years target with AOB is $20. Are you long on this stock. it's a good and gowing stock. However once their growth slow down to high single digit (maybe 3-4 years from now the PE going to drop to probably 13-14 and the stock might drop a lot but I still think by that time the stock will still be around $20)
JMHO. what do you think of AOB?
Stan
stanley. I did sell some and I'm glad that I did. I haven't sell all. maybe I was hoping that maybe it will come up with some good news and recover (hence the slow selling).
I was doing the slow selling as well with CXTI and ended up still with some shares remaining and don't feel like selling the rest at .14 (I bought them at $1)
2007 (and PSL 6 and 7) not a good year for me.
Next time around (in PSL), I'm going to freeze the stock if I think it has reach their potential for the short term (because PSL is short term contest). could have had nice gains on hsoa and ckgt.
I'm confused why CKGT price is so low. kind of reminded me of ETLT. ETLT pull a NMKT today. trying to spin off their e-sea division and give stock dividend which I don't like them to do so. I'm still holding that one though (even though their sales in Q3 just dropped 40%)
Stan
How on earth, Bob continue to go to the elite eight and final four for every PSL tournament... I guess that tells me that he definitely know his stuff (stock picking and timing).. nice one Bob...
for once I thought the PSL tournament are somewhat based on random/luck (to win week after week and be consitently good or less bad than the opponent)..
btw, should have frozen all my stock a couple weeks ago... anyone share similar opinion (that you wish you have srozen/sold some of your stocks)...
Stan
Ssk, thanks on your DD on HQS and your take on the Q3 result.
I don't know how !4 coule be their strongest quarter (I don't udnerstand the rationale behind it)
recovery of doubtful accounts (must be a contra account. theymust have been writing them off and taking it as loss before and so the can consider that as income now)
btw finance cost is down because they stopped selling more shares (and paying big comission in the process to get the investors who wants to buy the PP shares)
I agree that I should try to time the sale before the Q1 earning. I've sold half of my holdings at $10-$12 and get all my cost back and I will continue to sell some more maybe before or after the Q4 is reported (depending on the price that day)
I've told my friends to sell (and they did) today and last week when they announce earning because I think when they announce secondary placement , which sould very be before the Q4 result is announced, the stock could dip back to $7-$8 just like AOB last time when they announce secondary offering.
I still have suspicion that they might take the money and run (just like CXTI. I guess since the CXTI experience I had little faith with China stocks)
speaking about AR issues, what do you think about IBIN and HSOA ARs
having said all that, it seems to be a decent Q3 result and I think theya re preparing for the secondary placement and have to put a nice earning result for the new buyer of the 4.5M shares.
Stan
mandjb, I didn't realize that HTE already drop the dividend.
did they drop it for each quarter or just one time only
What is the current yield (at the current price)?
am I looking at it correctly
32 cents per quarter for new dividend which is $1.36 and the stock is at $20.. so the yield is less than 10%?
Stan
researcher, it's nice to have a very difersified portfolio. unfortunately my portfolio is pretty concentrated (I only have 20 different stocks and my top 5 holding make up 50-60% of my portfolio)
Stan
Wade, on HSOA. I'm still holding but I'm planning to at least sell some and get some of my money back. I took the approach that you did with CXTI and I ended up losing a lot of money. but anyway, if you are very diversified, then you don't need to worry about losing money on HSOA.
in either case, it's not fun losing money.
Stan
Stanley, thanks for the input on HSOA. Looks like stocklemon has it correct all along. they might be doing some self dealing as well (as they failed to disclose giving/taking project from a company that is related with current management)
Agree. There are too many good/better stocks out there , and it's not worth it to stick around and see what this will end up.
2007 is by far one of my worst years in investing (lost a lot of money in CXTI which maangement ran away and leave the company)
again thanks for the advise on HSOA.
Stan
Len, you bring up several very good points and it actually helps me to understand why I don't need to be 100% invested all the time. And not earning any return on our money (or just the 4% money market returns) can't and shouldn't be considered losing money. now it makes sense to sell when I have enough gain, and when I feel the stock is very high and I wouldn't be a buyer at that level (and to sell them versus continually hoping that maybe it will get even higher.. which could also happen but I know I should not bank on it as not every stock will move like GOOG, BIDU, RIMM, or AAPL)
I also am learning not to regret the past (and the losses from my mistakes)
Betting on sure/surer things surely is a good advise
I sholdn't be stressed too much, and try to chase unnecesarry risky type of gains (theoritically speaking), as I am at a point where I don't really need to chase huge returns anymore but it's ahrd to break the habit (since the last 6-7 years or so, except this year, I have been getting ridiculous type of return. getting spoiled I guess)
Thanks Len for your perspective. Let's see if I can start selling some shares (both winners and losers that I think deserve to be sold at this moment)
Stan
What a week (or two). makes such a difference.
should have frozen everything when I'm still up 20%+ overall (right pre-earning).
I did think about doing it. and just be content with "only" 20% (which suddenly looks very good...
my HSOA, CXTI and CKGT tanks.. should have booked gain when still possible.. (no one losses for booking good gains)
Lesson learned..
Stan
why HTE is dropping the last 5 days or so btw?
yield is 20% now (it was 16%)
I thought it was already cheap.
are people worried when they have to pay tax they can pay as much dividend anymore? or is it more something to do with oil/gas prices?
Stan
Thoughts on SGZI? I saw the earning is awesome and looks lke the net income of $1M+ from last quarter seems sustainable. what is the outlook like for this company and what do you think the company should worth?
Stan
Any thoughts on HQS? Do you think the great Q3 reuslt is repeatable? (I am a bit skeptical about it, and I am guessing that they are just preping hec omapny for a secondary offering so they make sure q3 result is good. They already announce to increase the OS shares from 8M to 12.5M through the secondary offering)
I'm sitting on a free shares but still debating whether I should sell more or not at this price.
Cant believe this morning for 10 minutes people were selling this stock for $8-$8.5 range...
Stan
Any thoughts on HSOA? Should I book the loss now or ride it out?
What are the odds of them having to restate and going into liquidity crisis?
And anyone thinks that stocklemon/citronresearch might be correct on some of their accusation on HSOA?
Will lawsuit coming up on HSOA if they restate in a big way?
I hope this won't go like CXTI or DHB. Btw, DHB ex-CEO is going to jail the last time I heard.
Stan
giff, theoritically it does make sense but I dont think you will see $4M X 4 as the annual earning.
one can argue they will grow too so $4M x 4 quarters might be conservative.
but I wouldn't bet my life that HQS will have $16M annual earning in the next 4 quarters..
i'm guessing it will be a lot lower.. some quarters are seasonal and actually the earning might be a lot lower in some quarters...
If they earn $10M a year in the next 12 months, I think we should be lucky.. (just take a look at the last 9 months earning)..
I might be conservative but I;ve seen so many people lose so much money and get dissapointed for doing exactly what you just said (annualize this quarter earning). I've done that myself in the past and I enede up losin gmoney as well (for setting expectation too high)
obviousl for a company that is stabile, and no seasonality, annualizing earning does makes sense..
hope this makes sense..
what's your target price of HQS btw.. (12 months target price)
Stan
PS: also I don't think HQS will get PE of 21 long term.. they are based in china (emerging risk) and has additional risk for being microcap.. probably PE of 15 is more than good enough. but if they can continue grow earning or make $16M per year i nthe enxt 12 months then maybe tey should get at least 21 PE as well..
very nice indeed.. should be in the top gainer list tomorrow..
but IMO when they announce the seocndary placement the stock will drop again.. hope they will use the money wisely though..
I;m holding long term. (I've sold some at $10+ to get my cost back)
Stan
Maybe stocklemon has some valid points on HSOA.
I'm already losing money on this one. should have sold it when it hit high $3s not too long ago (HSOA also is a pain for my PSL)
We'll what they have to say when they file (the delay should only be 5 days or less, otherwise they will not be compliant with SEC reporting guideline)
Stan
HQS. $3.45M net income. $4M comprehensive income. very nice.
I'm guesing they know this good news is coming and they want to sell the shares (as they expect the stock price will increase)
with this kind of result I don't think they should issue shares below $8.. or in fact below $9.. not to do that..
anyway.. I think if the stock price doesn't go up tomorrow I don't know what else that can help incraese the stock price (maybe slowing down the dilution). it hsould be in the AMEX top gainer list tomorrow.
too bad I'm all down to the core holding so I can't sell more shares..
IMO, the stock will dip again when they announce the secondary offering and that might be a good time to buy if you trust them that they will use the money wisely (to grow the business)
Stan
Thanks Pappy for the input. I already have CKGT and also have CKGT is my PSL as well.
I want to maintain diversification and unless ETLT is a fraud, I think the stock is still undervalued.
ETLT makes 1 cent a share in interest income (3-4 cents per year)
and that is much more than 5%.. and then they have the business earnign more money... I don't see why holding cash is better unless it is fraud...
cash (in mney market only yield 5% though it is guranted cash flows)
Stan
pappy, HQS, CXTI, ETLT, I'm still holding them all.
I sold some HQS and boook some nice gain and holding the rest and see if theya re in the business of selling shrimp and tilapia fish or they are in the busienss of printing shares and giving a lot of compensation to themselves
CXTI, I sold most of my shares at a loss (good thing I bought at .80-1 and not like at $6 or $7). still a loss is a loss. I don't know why I'm still holding some. maybe because I thought it is too low already. but if I beleive the value is $0.. any price is a good price..
ETLT.. we'll see.. the cash is nice but we want to see income stream.. incraesing income.. adn increasing EPS..
I don't know why they don't do a buy back.. maybe they are/will.. they said they will buy back 5% outstanding shares bt I have yet to see it happening...
If AOB didn't go up this much I probably will have no guts to hold ETLT, CXTI and HQS.
Glad to see you did just fine trading this stock..
Stan
Thanks for your input SSK on ETLT. the number looks real bad indeed. Ive decided many months ago that i'm not adding even it dropped. but I am not selling as well because this amount I'm comfortable of investing (or gambling if you will) in this supposedly profitable chinese microcap.
I should have sold some at .90.. you are right I was wrong and greedy.. (I will do it if it goes up to 1 time cash value).. and not because it was .90 before or other reason, I just feel they should be valued at least at cash value (clearly theya re priced for fraud)
I lost $160K in CXTi (20K shares at less than $1) and didn't book any gain.
The only good part (not even too good anymore since most of my other stocks also dropepd) is that ETLT is a small portion of my portfolio, so even if it goes to $0, I will survive.
I think it can go both ways.. if I had use similar criteria and be more risk averse and sell often. I might have already sell all my AOB shares (as they keep diluting shares and right after I buy they went up 60% but then drop back 50% with crazily priced warrants and dropping EPS and seasonal sales so on so forth), and I wouldn't have the tenbagger on AOB. Howpever I need to sell if the business really declining steadily (which currently the data shows).
in 11/15, there will be shareholder meeting in Hawaii, and i'm sure they will get questions on this bad result.
Stan
nelson, on ETLT, no problem, it is what it is...
Part of investing is risk.. and I did lose a lot of money on CXTI and now on ETLT I lost a lot of opportunity.. could have booked a lot of gain but now back to break even again..
I still don't see a reason why I should sell out now (with just a small gain).
We'll see what the PR said (hoping they will say this quarter is seasonal and will not continue to drop in the future)
and hope they are not fraud... if they are then tough luck.. 2 out of 2.. (CXTI and ETLT)
Stan
FWIW, ETLT income from operationalso drop 40%+ (to 2 cents per chase).. the 2 items that helps increase are:
1. 400K+ in interest income(I'm guessing interest from the 45M cash that they are holding)
2. 400K+ in investment gain (sale of asset according to the filing but I'm guessing/hoping it is gain/dividend from turtle operation and other minority interest)
I'm shocked to see the sales decrease. one poster in RB seems to know about this since a week or two ago. but anyway, valuation wise is still cheap and I'd rather them being honest showing that sales has decrease than continue cooking the books
what I want to know if this decrease is the new trend or it is just one time thing.. I want to see a PR explaining about this.. hope this decrease isn't permanent...
Lock and loaded 130,000+ shares.. (I regret for not selling some during the last rally after time and time again it always go back to .60s when it ralied to .80s-.90s. I guess some people just never learn.. :) but i'm telling myself the next time it rally to .90 I'm selling some to get some of my capital back)
Stan
MDF Q307 is out. EPS $0.03, Revenue $69.6M, Cash $34.4M.
Overall I'm pleased to the result (EPS is $0.05 without the one time charges). I'm encouraged by the 1,100 addition of HMO (6000 HMO members now) though they have to spend $500K more on the HMO marketing in Q3.
PSN performance (segment profit before cost ) continue to improve which is good.
Not too be overly critical but the HMO losses need to start coming down in 2008. HMO MER need to start coming down. I don't expect it to break even but its losses must come down and show that there is chance for it to actually be profitable in the next 2-3 years.
-------------------------------------------------
Segment Profit/Loss Q3 and Nine months 2007:
For the company’s HMO the segment loss before allocated overhead and income taxes was $3.1 million as compared to a loss of $2.0 million for the third quarter of 2006
For the HMO, the segment loss before allocated overhead and income taxes was $8.7 million, compared to a loss of $6.2 million for the same period in 2006.
----------------------------------------------
I'm a bit confused on what is included in MER (if the HMO MER is less than 100%, I wonder why the segment is posting huge losses before the allocated overhead. my current guess is that they only include direct medical expense in the MER and not including Marketing cost and operation cost).
Having said all that (being critical on their HMO losses), overall, I'm pleased to see MDF Q3 result.
Hoping fora mild winter (for Q407 and Q108) and a nice open enrollment season (in the next couple monts)
Stan
should have frozen HSOA, or should not have picked it at the first place.. potential fraud... oh well.. part of the learning process...
many microcap earning will come up soon.. all the best everyone.
Stan
oil contest. $100
you got that right Shmo. way back in the 2001... back in the NTST days (and AVEA, VRDI, THK, DHB etc some good and some not so good days.).. but overall.. it's been a fun journey/ride..
6-7 years... we go wayy back...
Thanks for all the friendship and fun stuff (with all the other interesting characters/buddies such as CEO, FBI, Dogg, John, Shrink, etc)
Looking forward for AOB and MDF earning.
EQIX just post good earning but valuation seems high. I'm still holding though. Can;t belive GOOG really going to cross $700. the number Cramer predicts when the stock was still $550.
As far as ETLT. they keep filing to sell sares (but employees are the one selling te stocks so the company will not receive cash. I started to doubt that the company really have their cash that they said they have as they keep acquiring business with their cash and stock combined at a high valuation. we'll see what their Q3 result will be. still holding about 130,000 shares so I'm lock and loaded (didn't dump in the most recent rally that appear to be another pump and dump scheme). Annual meeting will be in Hawaii in November. Nice vacation place. Hope they take care of business too..
Stan
I'm guessing he gets some kick backs
lol... jk...
Stan