https://www.wsj.com/articles/former-apple-computer-ceo-lists-reno-mansion-for-10-75-million-54ec46b6

Looks like they've found another partner whose resume shows he'll fit right in:

https://www.sec.gov/litigation/complaints/2020/comp-pr2020-131.pdf

I remember that car. There were some serious drug trials going on over at those apartments :)

BK

"removed and replaced with a qsep number instead"

I guess you mean CUSIP?

"What happens if a company wants to buy 5barz as a private company?"

This is not even worth considering, of course, but subject to various restrictions and necessary dislosures, someone could buy shares now. Obviously, they'd be unlikely to pay very much. They wouldn't have to buy the whole company, but could possibly gain a controlling interest. It becomes a much more difficult transaction as a private company (i.e. contract lawyers instead of SEC "rules"). Losing their registration devalued the company, as there can be value as a shell, minus any liabilities. Presumably, they took an honest look at their balance sheet and responded accordingly.

"Do we as shareholders still receive the proceeds?"

Sure, if you manage to sell your shares. LMK!

"If a company bought Barz, that money for my shares would show up in my brokerage acct?"

No, unless your broker was somehow involved in the sale of your shares, which wouldn't be typical.

"Will my shares continue to show up in my brokerage account until something happens with Barz? ... Even though Barz is now a private company?"

Probably not for long. They're outside the purview of BDs at this point, so they should disappear from your statement. If you're lucky, they'll send you an explanation.

"Is there still roughly 550 million shares outstanding?"

Last I was able to see, yes, but as a private company, they can more or less do as they please behind closed doors. Kind of like when they were public, but you know, different.

And obviously I meant to say "None of those companies went *private* via SEC suspension!"

None of those companies went public via SEC suspension! It's one thing to take your successful company private, and quite another to have a nearly bankrupt 2 cent stock get delisted. You may still have your shares, but they'll be tough to sell. This is not a way to try to compare BARZ with Dell or Tesla!

Condolences for sure. I know once you're in it's tough to get out during the decline. I got what I could a while ago, but it was certainly painful. Chalk up another loss for the CEO, latest in a series of near-identical failures. As for Gil, there was never much there IMO. They managed to pump him up with air for a couple of photo ops, then poof! I suspected he may have been in declining health in the last few years, but did see he was in the news a few months ago, trying (unsuccessfully!) to close a different deal.

Better luck on the next one. Remember the names!

Thar she blows!

"Formerly=Bio-Stuff until 12-2010"

In hindsight, that was a pretty good name.

Gil in the news:

https://globenewswire.com/news-release/2019/04/16/1804501/0/en/Voip-Pal-s-Board-of-Directors-Has-Rejected-a-Formal-Offer-from-Dr-Gil-Amelio-and-Associates-to-Purchase-CEO-Emil-Malak-s-Shares-and-Take-Over-Control-of-the-Company.html

I tried to point that out a few times, but one of our pitchmen insisted that 4G was worse at penetrating buildings.

You got to do what you can, and let mother nature do the rest.

Definitely some comedic irony there, using lorem ipsum for their company news! More truth in jest?

Jio looks to kill 4G in the cradle. What hope could there be for 3G?

https://telecom.economictimes.indiatimes.com/news/jio-to-speed-up-5g-rollouts-to-widen-technology-gap-with-airtel-vodaidea/68407691

Most likely they are Frogs.

I do understand the plan for the telco to provide the solution, but I think they would find comp'ing a phone upgrade to be a superior approach, allowing the user to have an overall better experience (and generate more usage charges) nearly everywhere, not just around their NE. And I don't see hundreds/thousands of NEs being deployed in an attempt to fill in numerous gaps in the coverage of of a dying network. 3G will disappear in the presence of such a vast 4G rollout, and I have to believe their 4G network will offer superior coverage as I have experienced. In fact, I have heard directly that the 4G network in India is considered standard fare, and works great.

Not trying to be snarky (since that sounds bad?!), but obviously sales is an important (and evasive) metric. The $2k number is from the 10K, down from $70k the prior year, during a period when the ROVR was available on Amazon. Let's face it, $2K is not many ROVRs (or NEs). Let's hope the 2018 10K reflects numbers that better-align with your citations.

I do agree with your perspective that the router has more potential going forward than the (present) NE, but I suspect this data-mining effort will present many challenges of its own and the track record here suggests, well, let me not be snarky again. We'll see, I guess, but BarzCoin reeks of pure hype.

However, I disagree with your view on 3G. Sure there are a lot of worldwide users left, but why would any of them buy an NE for a similar price to an upgraded phone? And few of the 4G bands are higher than the 3G spectrum. My presonal experience is that 4G is more robust, so my conclusion is they've done better at network planning. As for a possible 4G NE in the works, well, snark snark!

I didn't see much to be excited about. Mostly old news (they're still not current) but their ongoing losses and debt are a major concern. Sales dropped (to $2k! What did they sell, 8 ROVRs?). As I've said a few times, I don't see ANY market for the NE and continuing to highlight it in their reports makes me question their other dreams (BarzCoin?). Ìt looks like they did close an office in San Diego. Was that their "Innovation Center"?

Probably more of a warning than a joke.

IR website dead as well.

F1,

Barz is not mentioned because they are not involved, at least not in any substantial way. Yes, India telecom is on the cusp of explosive growth, particularly driven by 4G data services. Unfortunately, 5Barz simply does not play in that market. Somehow they missed whatever chance they may have had to catch a piece of the 3G market before it collapsed. By all accounts, 4G is upon us. No one will throw money, not even Rupees, to resuscitate a weak, slow, inefficient, old and in the way network when the better path forward is so clear. That should be more obvious every day, with every news article.

What involvement could they have? This just shows Airtel has moved ahead without 5Barz. The 4G boat has sailed, and they don't have a product. There is no market left for the network pretender. None.

You had me there, for a moment, anyway!

That dept of the SEC is probably shutdown.

Re: trading by appointment -- good call!

Good point...could be anyone, but it's someone. Simply put, be wary of the closing price as much of an indicator.

Ever notice that no one just *has* to buy 100 shares right at the close when the ask is below the last like they do when it's above?

Because getting 25% of your investment back is better than getting 10% back. Or 1%.

Nice post, Zero. One of your best! Good job describing the position BARZ has put itself into trying to get funding. Since their only source of capital has been the many lucrative PPMs they've closed in prior years, they probably shouldn't have allowed their balance sheet to go so low as to strangle that lifeline by not having enough to keep their financials current.

I don't see why they couldn't have gotten some income as prepayment on these orders, though. These are, after all, big players who really want this technology. Or maybe not. As I've said before, I think the boat has sailed on 3G products. They may have orders, and they may find some way to fill them, but I sure don't see many more coming up.

Any insight as to how long they might hold off SEC action for failing to file? They certainly must have been warned by now, and unless they were able to put forth a viable remediation plan, I'm surprised they're still registered.

When you see mention of things like "4G" and "5G" the answer is no!

Wet paint! Another last minute buy at the ask. Just enough to keep the close above the VWAP.

Who knows what they are focused on? Maybe just busy dealing with lawsuits or stalling SEC action? Trying to hire someone to prepare their financials? Doesn't their Director of Finance know how? His resume above sure sounds spectacular.

Yes, 5G is still a year or more out, but the preparation is underway at least. The NE can't support 4G, and it probably isn't needed there anyway, given the more modern architecture and improved network planning. But why would a 3G user suffering from poor performance want an NE instead of a 4G (or soon 5G) phone? And why would a service provider want its customers to hobble along with a technology that's approaching end of life? I just don't see any viable market for this device. Dream on if you must but I'm afraid the boat left some time ago.

Looks like they may have a different solution on the horizon. Already preparing to upgrade their 4G network! How much effort could they be expected to put into improving their 3G system?

https://telecom.economictimes.indiatimes.com/news/jio-may-launch-5g-services-within-180-days-of-spectrum-allocation/65948346

Bounce right back? Today's VWAP was 7.8 cents on almost half a million shares. A last minute buy of 2k shares at the ask (an ongoing occurance here, where so much mention of manipulation persists) to paint a rosy close is hardly a bounce back. Try selling into that market. Might as well try to sell a 3G product into a maturing 4G terrain cresting on 5G.

Financials irrelevant? Surely you're joking.

Not only would they be required to list on a foreign exchange, as we've been promised, but their delinquency also holds up trading of insiders' shares (maybe a good thing here if you're outside?) and makes any further PPMs, the only thing that's ever kept this afloat, perilious at best.

More importantly, perhaps, is the real possibility of having their registation pulled (CYNX, anyone?). They very likely have received notice on this, and such an event warrants an 8K.

IMO, this is what makes this such a risk right now, hence the price and lack of participation by anyone knowledgeable.

And if they do get funding, other than perhaps carefully structured vendor financing, I believe they have a long line of creditors waiting in the shadows ready to move in. Current (and accurate) financials would reveal the potential impact of that as well.

Not a chance.

Sounds like a great market to pitch a 3G product in, doesn't it?