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I suspect it's related to end of March/first of April warrant holder interest payments in stock. I recall a bunch of filings related to the warrants recently. IMO
Hopefully he gets replaced on the board by a FedEx exec after Fedex takes a 25% equity stake in CYRX. What would that do for the stock price? I can dream anyway.
I read it to cover the corridor BETWEEN those places. likely where more affluent suburbs are located where they have a large number of potential customers without high speed internet access who can afford the service. Sounds like a good plan to me. Also, I like the number of hotzone units that will be required to complete just this project. The margin of profit on these units should give some nice cash flow back to GTEM to use for further investment.
I don't know that it's safe to assume anything with GTEM, LOL. I agree that this appears to be the end of the SEC investigation. This is the end result of other SEC investigations I have followed mostly with the options scandals at companies like SIGM that I follow. One caveat, the new auditors have just recently been hired as I recall. I personally think it will take 4-6 months before GTEM has their filings complete and up to date.
Vern,
The lawsuit won't cause GTEM to go bankrupt unless the higher insurance premiums for such future losses would cause GTEM to be unable to afford coverage and a new lawsuit happens. The current lawsuit will only result in the duductable on the insurnace policy as a loss to GTEM. I would be shocked if that deductable hasn't been met yet. Settlement is not an admission of guilt, it is a business decision, The insurance carrier often figures out how much they expect to defnd a case and settle for less with the plaintiffs to 'cut their losses'. It happens in medical malpractice cases everyday in this country to the dismay of the physicians who want to defend their textbook decisions even though a bad outcome resulted, but he carriers make business decisions. I like your posts, but the lawsuit consequences you bring up have no basis in fact and border on 'fear mongering'.
db
Nice try but I think the Supreme Court decision last year applies here. Why wouldn't it? I think plaintiffs are limited in number. It's irrelevany anyway as GTEM has insurnace for this. I will no longer bring this topic up as I believe it is done.
I'm not a lawyer, but I believe you are incorrect that everyone is included. these two posts below explain my reasoning. I think the deductable has already been met by legal fees, so the lawsuit is irrelevant for all practical purposes going forward. I do think the people that started it were successful already with it for their purposes. IMO.
The lower post has a link to the Supreme Court decision.
FWIW: It wouldn't surprise me, like Vern stated, for the insurance company to cut their losses and negotiate a settlement with the remaining plaintiffs.
http://www.investorshub.com/boards/read_msg.asp?message_id=13992262
http://www.investorshub.com/boards/read_msg.asp?message_id=11388883
GTEM/GTEL has insurance for losses from any class action. The risk to GTEM is minimal from this. It is limted to their deductable, unless their was fraud. I doubt their will be criminal fraud charges as the SEC would have charged someone or shut down GTEM by now if that were the case. Also a Supreme Court ruling last spring that I posted about back then limits the number of participants in these types of 'class action' cases, this also lessens the awards and makes it less profitable for the attorneys. IMO
Was 'Raven' one of the delta aero UAVs?
http://physorg.com/news94812789.html
Thanks. I understand it better now, but still don't see the SEC pulling the rug out from under GTEM for trading or I would think they would have done it sooner. We'll see, hopefully GTEM files the extension. At least we have good news today.
I understand the requirement to file as you point out. What I don't understand is the penalty if they don't. Obviously they couldn't move to even the OTC BB in the foreseeable future, but I suspect they still would be able to stay listed on the pinks. Also I'm not clear who they would file the extension with, the SEC. Usually if listed companies are delinquent an exchange will give them an extension if the company is under an SEC investigation and having to restate earnings. I believe that was the case with Dell and I know that to be the case with my favorite stock - SIGM on the nasdaq where due to the options pricing problem they have they got an extension until May 4 to file. If these points have already been covered sorry i missed them.
BTW, I wonder if the price increase today was due to the judge issuing a decision on the motion to dismiss the class action lawsuit. I suppose someone would have pointed it out though, but that was my first thought instead of leaked news.
Good luck to all.
Muddy! LOL I just like throwing other ideas out there to counter the bashers or people with an agenda that always come to the most negative conclusion with GTEM. I will say the waters are muddy when it comes to GTEM, and none of us can see throught them as to what is going on. Let's hope for an upfront, honest shareholder update SOON to clear the water!
Or one move away from a buy-out? That's the two outcomes from this set of events as I see it. An interesting true story (I feel like Vern). A HS friend of mine went to work for a small software company and dropped out of college, in the 90s the company he worked for was bought out by a huge company. as one of the original employees of the acquired company he had built up tons of stock in the company and was a manager. before the buyout he and many other managers and the business office were let go as that was a request of the acquirer. He laughed all the way to the bank and has been retired for a decade now. maybe there isn't a similar course here, but one never knows. Whatever happens, i suspect we find out in the next 2 weeks.
Thanks. My memeory isn't as good as it used to be. It still fits my possible theory as Leinward could be counsel to the JV still, maybe, LOL.
That's my recollection from the reports we got from the SHM. Maybe Mide or someone can chime in here who was at the last SHM.
The optimist in me wants to believe GTEM has been audited by an aquirer and GTEM's independent auditor wasn't needed. I am familar with a situation where i live where a manufacturing facility was bought by a foreign outfit and for 6 months prior different auditors from Goldman, etc would come in and quietly do their business. I assume it was part of the acquirer's DD. Hopefully this is the case with GTEM. If the assets weren't to be sold, my hope would be the JVs would be spun off as IPOs (or taken private) and us current GTEM longs would get the new shares or money. If this is the case, an independent audit may have been done by the JV partner as they would want extensive DD particulrly with GTEM's past. I like to dream obviously, but I think the tech is real and am trying to think outside the box like i hope the Ks are. The scenarios above while optimistic would also explain the recent events as the other board members wouldn't be needed, nor an independent auditor paid by GTEM. The JV contract in Mexico also calls for 3 board members appointed by us and guess what we are now down to 3 board members. Hopefully we get another similar JV with Raytheon for the strat.
GLTA (except anked shorts)
Good point about the SHO list. If the SEC is unable to help us and get off the list and trade fairly, why go through the cost and effort to become a listed company again when shares can be fabricated to drive the price down at anytime. The truly only way to combat the naked shorting IMO is an asset sale. Let's hope we get an update and plan from the Ks soon.
I agree they have a vested interest to get something (more than 27 cents per share) out of GTEM. Also if you were going to go bancrupt, why not just do it, instead of paying for PRs on the JV, hotzone, strat test, etc.
More than 30 cents! It would depend on what valuation is placed on the strat program and the intellectual property and any potential patents. Same with Hotzone. The Peraltas may have found it cheaper to pay 200 million for example to GTEM and keep the whole JV to themselves and buy tri-max or whoever makes the hotzone product. The trouble is that we don't know how many shares are outstanding so even if we knew the purchase price of assets we wouldn't be able to come up with a number for each shareholder. The Centerline division i would say is worth 100 million as it has revenue of nearly that each year and the profitability would be increased by an acquirer who already is expenses accounting, insurance, and management. A potential acquirer there might be Global crossing. We'll see, but even a Germany bancruptcy and lease expiring at palmdale (as the strat would move to the hangar of teh acquirer) would be explained by an asset sale. I agree in the next 3 weeks we will either explode or implode. as i see assets with value, i think we get an asset sale.
GLTA
It could be that the expenses of auditing GTEM back to the adgi conversion that the SEC would require might be too big and expensive a task for a businessman to justify for a move to the BB and to try and salvage the tarnished reputation of GTEM/GTE/GTEL and face more attacks (BONY error, hack journalists, etc). I hope the Ks will just sell everything at this point.
As I see it, the only positive is if GTEM is offloading all baggage before a sale. If the assets (Hotzone, strat, centerline) were to be sold, an independent auditor (apointed by GTEM) wouldn't be needed as the acquirer would do their own DD and audit. The extra board members employees and units not wanted by the acquirer(s) would also be let go prior to a sale. The other positive to a sale, if the acquirer is willing to pay more for what the unit was acquired for, then the SEC should have no beef about that part of the investigation and if insiders didn't profit from the overly promotional press releases, then we should be free and clear.
Maybe the above is a dream, but it is the only positive way I can see all the recent events transpiring for us shareholders.
GLTA (except naked shorts)
thanks for the clarification.
Have you tried to see if your plan still works to make calls? If it still works someone is running your service whether it's Vozbrazil or another carrier.
Great minds think alike! LOL
4 posssible scenarios IMO.
1. Shares being issued to contractors and employees instead of cash (but volume has really dropped off of late)
2. Some internal loan from the K brothers or caterham
3. Centerline(and Vozbrazil/pilot hotzone money) revenues have grown to handle the cash burn
4. Some external funds from an undisclosed strat partner are offsetting GTEM's expenses (which wouldn't need to be disclosed as previously discussed if pursuing a mutual government contract)
I vote for 3 and 4, with some possible 1. and 2.
Link in my previous post doesn't seem to work right, this is hopefully the correct working link.
http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_S/threadview?m=tm&bn=16566&tid=...
Great idea frank for this board. SIGM, a nasdaq stock, may be something to look at if someone wants a new investment idea. Below is a post with the best summary on SIGM you will ever find, it is a detailed synopsis and comment on their recent CC for Q4 which ended Jan 31, 2007. It is a growing company (25% Q over subsequent Q) that sells and designs chips for some of the hottest tech growth areas now IPTV, Blu-ray, and UWB wireless. Take a look and let me know what you all think. Disclosure I have been long SIGM for years. FYI there are only 24 million or so shares outstanding and their largest customers include MSFT, Motorola, Cisco, and AT&T. Good luck to all.
http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_S/threadview?m=tm&bn=16566&tid=....
For the next BIG thing, take a look at SIGM. They are a nasdaq company in an explosive tech area IPTV and Blu-ray players. For a great summary of their prospects check out this post summary. I think it will double in 6-9 months.
http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_S/threadview?m=tm&bn=16566&tid=...
"He is very cautious on the way a PR could be worded and released. He said any miscommunication and they could be "Crucified". "
The above is interesting when considering the recent PR mentioning Raytheon and the PR about the JV in Mexico.
FWIW That's the same conclusion I have come to as well. I tend to think GTEM is being sold into pieces though. I think Tri-max may somehow be involved with this as well. From a 37 cent stock standpoint. The sum of the parts sure seems to equal much more than the current whole 37 cents IMO. Now how will it be done is the question. It could be sold and done where current shareholders get a cash amount for the parts or spun-off into JVs where the current shareholders get shares of the parts. We shall see, but I personally think this is all a good thing.
Maybe this is how we get money for the Mexico venture. I wouldn't mind selling half of sanswire to Raytheon for 25 million and forming a JV with them, then taking some of that money to form the wireless netowrk in mexico.
The delay may just be the SEC is horribly understaffed for all their current undertakings. There are something like 100 nasdaq/other big board companies who have had options pricing scandals and SEC inquiries regarding these during the time of the GTE SEC investigation. These companies include BRCM, UNH, SIGM, Apple, Home Depot, TUNE to name a few. These have even required outsourcing to law firms by the SEC per my reading on this. You may be correct that something else is being looked at, but my watching these options scandals resolve has shown a similar surprise at the time involved to be cleared by the SEC. The nasdaq has had to extend filing requiremenst to these companies due to the lengthy proceedings. GLTA
Has Big Apple ever been associated with a successful company? I know they have/had previous business with PLNI and HISC which have had dramatic PPS decreases.
I like it and makes a lot of sense.
Good point. I thought of that as well but if Jim owns greater than 50% of issued shares as it appears it probably wouldn't be for that IMO.
Hopefully he will sell the company to someone who knows how to handle this incredable growth. A sale of the company would also be a great way to get back at the naked shorting.
I was thinking it might be about the child id features of the USB product line. With the recent news about the missing boys found in Missouri it would be a great clip on a child safety segment, although this wasn't known at the time of taping at CES.
Sorry. I overlooked that one. How about ftrs (1.27) as my pick.
GLTA
My pick for contest is GTEM (0.37).
Great board. Hope everyone has a healthy, prosperous New Year.
Dave
Could QUIN represent the buyback and only be able to buy at the bid?