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Wow really flying...$10.30 Who are you kidding Gateway.
Haven't lost a dime ....my actual short basis price is over a dollar higher than the stock is currently trading at. Also I already took some cash off the table on the last move down. Even if this stock went to 50, I would just short more on the way up. There is always the possibility that more dummies could get tricked into buying this peice of crap and drive it higher. That is why I never short a full position, you always short in increments. You have to respect the ignorrance of others. In the long run I know I will be right. Here is to hoping more dummies come in and buy to save the longs for another day. LOL
Yipee.... five percent stock dividend part of 25% stock dividend. That's kinda like getting two dimes and a nickel for quater. You still have the same anount , it's just broken down differently. What a joke !!!!
I guess I am mental and so are the people at Dow Jones. Here is the latest from Dow Jones columnist Carol Redmond. Released today at 12:00. Read it and weep Gateway. Your a dope.
21 Mar 2006 12:02 ET =DJ IN THE MONEY:Hybrid Shoots For Moon,SEC Asks Questions
By Carol S. Remond
A Dow Jones Newswires Column
NEW YORK (Dow Jones)--Hybrid Technologies Inc.'s inflated press releases are finally catching up with the company.
Hybrid (HYBT) said in its latest quarterly report filed last week that the Securities and Exchange Commission started an informal inquiry into the company's press releases and communications with companies named in these releases. Hybrid's sister company Zingo Inc. (ZNGO) also got questions from securities regulators in early February according to Hybrid's SEC filing.
Hybrid's stock dipped as news of the SEC probe made its way through the market Monday. The stock is rebounding Tuesday and was recently trading at $10.45 a share, up 10 cents.
As reported in two previous "In The Money" columns, Hybrid, on at least three occasions, issued misleading press releases that were disputed by some of the companies or people mentioned in them.
Apparently unmoved by the SEC's scrutiny, Hybrid last week announced that NASA has agreed to test three of its battery-powered cars at the Kennedy Space Center. That's no small feat for a company with no revenues and one that recently defaulted on more than $3 million in debt.
In a March 13 press release, Hybrid announced its space act agreement with NASA.
NASA transportation officials confirmed to Dow Jones Newswires that the agency has agreed to test three Hybrid vehicles retrofitted with lithium batteries at the Kennedy center. NASA said the move was prompted by U.S. government's interest in alternative fuel. NASA said it didn't authorize the March 13 press release. The same press release was reissued by Hybrid on March 15. It's unclear whether that announcement was approved by NASA.
Endorsement Publicity Challenged
NASA said it was first approached by Hybrid 10 to 12 months ago. A NASA official said they had not seen or tested Hybrid's vehicles before agreeing to the deal but that the company provided the government agency with brochures and testimonials from people using them.
NASA "looked at their documentation. They have testimonials from various folks that are driving them," said Wayne Gookin who was NASA's logistic transportation manager when Hybrid first contacted the space agency.
Pressed for specifics, Gookin said: "They have Jay Leno."
Here's the rub though - "they" don't have Jay Leno.
The Tonight Show host told Dow Jones last November that his attorney had asked Hybrid to stop using his name. Leno said he never got a car from Hybrid, as the company claimed in a press release last April. "I'm not connected to it and have no interest in it," Leno said in a telephone interview. "I'm a car guy. I get calls and I look at things. That's it," Leno said.
Leno isn't the only one objecting to Hybrid's press releases.
Volkswagen AG and Frito-Lay, two companies mentioned in Hybrid press releases over the last few months also questioned the accuracy of those releases.
After Hybrid announced an "historical partnership" with Volkswagen last November, a VW spokesman said the press release, which wasn't approved by VW, "overstated things". The release disappeared from Hybrid's Website after VW asked that it be pulled.
Meanwhile Frito-Lay Inc., the snack food unit of PepsiCo Inc. (PEP) told Dow Jones that it terminated discussions to purchase two to four vehicles from Hybrid after that company hyped the deal in an unauthorized press release on Dec. 5.
A Frito-Lay spokesman said the company had told Hybrid not to issue the press release before it was disseminated by several corporate services. "Under no circumstances would a press release like (the one issued by Hybrid) have been authorized or even considered," the Frito-Lay spokesman said.
Scott Meehan, a lawyer for Hybrid, didn't reply to questions faxed to him.
Hybrid Defaulted On $3M Loan
Exaggerated press releases aside, there are plenty of other reasons for investors to question the prospects of Hybrid. According to its latest quarterly report, Hybrid had a net loss of $8.5 million for the six months period that ended Jan. 31. Losses since inception in 2000 reached a whopping $30.1 million by the end of January. According to the consolidated balance sheet included in Hybrid's most recent SEC filing, the company had $51,702 in cash as of Jan. 31. But later in the filing, the company said it had $4.3 million of cash on hand as of March 16. The company doesn't explain in the filing how it dramatically improved its cash position from Jan. 31 to March 16.
The company has about $5.3 million in liabilities and has fallen behind on some of its obligations. Hybrid said on Feb. 24 that it defaulted on a $3 million loan from Sterling Capital Inc. A Vancouver lawyer representing Sterling declined to identify the controlling person(s) behind Sterling. The lawyer, Gregory Yanke, said that, as far as he knows, Sterling hasn't declared Hybrid in default and that therefore 9 million shares of Hybrid used as collateral for the loan are still sitting in escrow.
According to SEC filings, Salim S. Rana Investments Corp., a private Nevada company controlled by Salim Rana, was Hybrid Technologies' second largest shareholder after Sterling, as of March 9 with 20% of its shares, down from 80% in 2002. Hybrid is the controlling shareholder of another struggling small-cap company called Zingo. The two companies share some of the same executives, including Holly Roseberry who acts as chief executive officer for Zingo and president and CEO for Hybrid. Roseberry appears to have limited experience running publicly traded companies, having managed a dry cleaning laundromat in Las Vegas from 2001 to 2003.
(Carol S. Remond is an award-winning columnist and one of four who write the "In The Money" feature. Most recently, she won a 2005 Gerald Loeb Award for best news service content with "Exposing Small-Cap fraud," a series of articles that described how three small companies unscrupulously pumped up their stocks.)
-By Carol S. Remond; Dow Jones Newswires; 201 938 2074; carol.remond@dowjones.com
(END) Dow Jones Newswires
March 21, 2006 12:02 ET (17:02 GMT)
Copyright (c) 2006 Dow Jones & Company, Inc.
Hybrid Tech Discloses Informal SEC Inquiry
DOW JONES NEWSWIRES
March 17, 2006 6:52 p.m.
WASHINGTON -- Hybrid Technologies Inc. (HYBT) disclosed Friday in its 2005 annual report that the company and a subsidiary are the subject of an informal inquiry by the Securities and Exchange Commission regarding press releases the company issued within the past year.
Hybrid Tech said the company and its Zingo Inc. unit are cooperating with the SEC's request for documents and information related to the press releases, communications with companies named in the press releases and bank and brokerage account records.
No further details about the inquiry were provided in the report filed with SEC.
Hybrid Technologies, based in Las Vegas, is a development-stage company focused on converting products such as land vehicles, watercraft and lawn and garden equipment to lithium power.
-By Ed Welsch, Dow Jones Newswires; 202-862-1356; edward.welsch@dowjones.com
Gateway here is a nice article on Hybrid from the Charlotte, NC. Observer...
Car conversion plant debuts amid questions
Leno, snack-food maker say they won't be driving Hybrid Technologies' refitted autos
GILLIAN MAY-LIAN WEE
gwee@charlotteobserver.com
Hybrid Technologies Inc., a Las Vegas company which says it's developing electric cars, unveiled its Mooresville plant Thursday and displayed several vehicles it has converted to run on batteries.
The company has made claims in the past year that both "Tonight Show" host Jay Leno and Frito Lay were to accept some of its refitted cars. But both Leno and Frito Lay say they are not customers of Hybrid.
Four months ago, Hybrid moved its production facility from Van Nuys, Calif., into a building on Raceway Drive, where it employs about 35 workers, said company spokesman Richard Griffiths. Hybrid chose Mooresville for its NASCAR culture, he said.
The cars on display Thursday included a Chrysler Crossfire, a Mini Cooper and a Smart, a tiny car sold by DaimlerChrysler in Europe, which Hybrid had bought and converted.
Speakers included state Sen. Dan Clodfelter, D-Mecklenburg, who said the plant showed there was a future for U.S. auto making and that North Carolina could play a role. He also noted that the cars were environmentally friendly.
Hybrid says it's developing prototypes that can go faster than 120 mph and will operate for 45 hours between charges.
Hybrid says its main customers are the federal government and Fortune 500 companies. Griffiths would not give names, the prices of cars or how many units it has delivered citing nondisclosure agreements. He said government agencies and companies are testing cars now "with an aim for purchasing."
The company is publicly traded on the OTC Bulletin Board. In the company's fiscal year ending in July, it posted a loss of $12.6 million on zero sales, according to a securities filing.
Griffiths said the company has enough capital to continue its marketing plans.
In news releases last year, the company claimed that its first converted Crossfire "had found a new home" with Leno and that PepsiCo's snack company Frito Lay had agreed to purchase vehicles. Both Leno and Frito Lay said those statements were incorrect.
In an interview with the Observer, Leno said he remembers seeing a Hybrid car about a year ago. He went for a ride in one and it broke down. "I was not impressed and I left," Leno said, adding that he did not buy one.
Since then, he said he has sent cease-and-desist orders to the company through his attorney telling Hybrid to stop using his name.
"I've spent a lot of money saying I have nothing to do with it," Leno said. Griffiths said the company still intends to deliver a car to him.
Griffiths said Hybrid had developed a relationship with Frito Lay but a potential deal fell apart. Frito Lay said Hybrid was not authorized to issue the press release that named the snack-food maker. "We were in discussions with them, but at this time we are not moving forward," said Jared Dougherty, a Frito Lay spokesman.
Battery-powered vehicles are different than hybrids such as the Toyota Prius. The Prius has a small gas engine and batteries. The car runs on battery power under some circumstances, cutting its emissions and improving its gas mileage. Other times the gas engine helps power the car.
Batteries powerful enough to propel a car are expensive and impractical, said Dan Benjamin, a transportation analyst at ABI Research in New York. The expense mounts if the batteries need to be replaced frequently, he said. Batteries generally don't last long if they're frequently discharged and recharged.
Griffiths said Hybrid has a partnership with a Korean battery company that brings prices down.
Don Hobart, a spokesman for the N.C. Department of Commerce, said the agency did not recruit Hybrid to Mooresville and had no role in Thursday's ribbon-cutting. The agency did not give Hybrid any incentives or grants, said another commerce department spokesman, Greg Thomas.
Executives with the Mooresville-South Iredell Chamber of Commerce said Hybrid did not ask them for relocation information either.
Gillian May-Lian Wee: (704) 358-5160.
Gateway, you conviently left this part of the 10-QsB filing:
Securities and Exchange Commission Inquiries
On February 10, 2006, we received a request for voluntary production of
documents and information pursuant to a Securities and Exchange Commission
informal inquiry. The documents requested include those related to press
releases we have issued over the past year, communications between us and firms
named in the press releases, and bank and brokerage account records. We are
cooperating with the Commission in response to this request for information.
On the same date, our majority-owned subsidiary, Zingo, Inc., received a
similar request as to press releases issued by it from September 2005 to January
2006. Zingo, Inc. is cooperating with the Commission in response to this
request for information.
Obviously the SEC thinks they are hyping the stock , by their requests. They could suspend trading in HYBT at any time, then all the longs will be left holding the bag !!!!
Anybody who wants to buys this thing should save the commmisions and just flush their money down the drain !!!
Gateway , that's 3 times you posted the hyped up NASA news. Your the idiot.
Maybe one of the most overvalued stocks I have seen in a while. 2000 customers at 14.99 / month and a market cap of close to 1 billion dollars. If I owned I would sell it. Otherwise consider shorting this thing.
Gateway funny how you missed the most important HYBT news in the last year. It just happened to be bad news, not the hype you pump out. I am talking about last weeks default on the $3 million dollar loan , where 9,000,000 HYBT shares where pledged and can be immediately called by lender. Here's the link http://biz.yahoo.com/e/060302/hybt.ob8-k.html
That loan pledge amounts to 41% of the cuurent total outstanding. That's what I'm talking about pumper.
Funny how poster Gateways Stocks only posts the hype and nothing else. As soon as HYBT announced a 3 for 1 split he was all over it. Now that they canceled the 3 for 1 split ( http://biz.yahoo.com/bw/060314/20060313006232.html?.v=1 )he is no where to be found. Also he never posted the news about their 3 million dollar default on a loan. Beat it Gateway.
NASA make me laugh. It all sounds great. It almost sounds like NAASA has already agreed to purchase these things. You have to read Hybrids press releases very carefully. Like those press releases in the past this is another one likely to generate 0 in revenue. READ IN THIS EXERPT THE WORDING "TO DETERMINE THE UTILITY OF LITHIUM POWERED PLEET VEHICLES".....Hybrid Technologies, Inc. (OTC BB:HYBT.OB - News) www.hybridtechnologies.com, emerging leaders in the development and marketing of lithium-powered products worldwide, are pleased to announce that they have entered into a Space Act Agreement with NASA's John F. Kennedy Space Center ("KSC") to determine the utility of lithium powered fleet vehicles produced by Hybrid Technologies. Sure we will look at it. You hype an idea to anybody they will look at it. But go back in Hybrid's past news releases over the last 2 years , where's the revenue. Where are any of the actual products put into production. Hype after hype. What a joke.
20% stock dividend-Who cares? When you take a piece of crap and split it up into smaller pieces it's still the same piece of crap. I noticed you fail to post the default news from 03/02/06 http://biz.yahoo.com/e/060302/hybt.ob8-k.html and any other uninformed person who planning on buying HYBT should read these articles published by an award winning Dow Jones journalist. http://www.newratings.com/analyst_news/article_1105666.html
and on Hybrid and Frito Lay...NEW YORK (Dow Jones)--Hybrid Technologies Inc. (HYBT) must really think that
investors are in the market to buy a bridge.
This small developer of battery-powered vehicles, which has issued
exaggerated press releases in the past, published another misleading release
Friday in which it said that Frito-Lay Inc., the snack food unit of PepsiCo
Inc. (PEP), had agreed to purchase a fleet of lithium cars. Hybrid Technologies
also said in the release that it and Frito-Lay entered into a preliminary joint
marketing and public relations partnership after executive meetings at
Frito-Lay's headquarters in Plano, Texas.
Turns out that neither Frito-Lay nor PepsiCo authorized that release.
"Any meeting held between Frito-Lay and Hybrid Technologies would have been
exploratory only," said Frito-Lay spokesman Charles Nicolas, adding that
Frito-Lay has asked Hybrid Technologies to retract the press release.
Scott Meehan, a lawyer for Hybrid Technologies, said told Dow Jones Newswires
that the press release had been approved by PepsiCo. Meehan provided Dow Jones
with copies of two emails written by Frito-Lay employees.
According to one email dated Nov. 22, Frito-Lay had "processed the invoice of
$100,000 for the purchase of Hybrid vehicles." It also said its next two steps
were to get one Smart car delivered as soon as possible and a "Hybrid
Technologies facility tour and test drive of Hybrid vehicles on Nov. 30, 2005."
In the other email dated Dec. 2, one Frito-Lay employee is asking a press
spokesman about his thoughts regarding a vendor's (presumably Hybrid
Technologies) desire "to communicate the following press release which is
factually accurate." A document attached to that email was not forwarded by
Meehan and it's unclear whether that document was in fact the press release
later issued by Hybrid Technologies.
But Frito-Lay spokesman Nicolas said that "under no circumstances would a
press release like (the one issued by Hybrid Technologies) have been authorized
or even considered." Nicolas said that Frito-Lay told Hybrid Technologies not
to issue the press release before it was disseminated by several corporate
services.
Nicolas said that while Frito-Lay had at one point considered purchasing two
to four vehicles from Hybrid Technologies, Frito-Lay had now ended discussions
regarding this matter and that no money was paid to the electric car company.
The spokesman said Hybrid Technologies' publication of the release over its
objections was in part responsible Frito-Lay's decision not to move forward
with the hybrid vehicles company.
As reported in an "In The Money" column on Nov. 17, on two previous occasions
Hybrid Technologies has issued misleading press releases that were disputed by
some of the companies or people mentioned in them.
On Nov. 2, Hybrid Technologies announced an "historical partnership" with
Volkswagen America which involved a deal to "jointly produce a lithium-powered
concept vehicle to be utilized by Volkswagen."
A VW spokesman told Dow Jones that his company only signed a letter of intent
with Hybrid Technologies. He said that VW didn't approve the press release
which he said "overstated things." The release disappeared from Hybrid
Technologies' Web site after Volkswagen asked that it be retracted.
On April 6, Hybrid Technologies said its "inaugural R-Car, number 001, has
found a new home with Tonight Show host and car aficionado Jay Leno."
Not so, said Leno. "I'm not connected to it and have no interest in it," Leno
told Dow Jones. "I'm a car guy. I get calls and I look at things. That's it,"
Leno said, adding that his attorney told Hybrid Technologies to stop using his
name.
Hybrid Technologies' stock, which trades over the counter, was recently
trading at $6.77 a share, down 4.4%, or 31 cents.
Press releases aside, there are plenty of reasons for investors to shy away
from Hybrid Technologies.
As noted in the November "In The Money" column, Hybrid Technologies,
previously known as Whistler Investments Inc., has no revenue, not much cash
and about $4.3 million in liabilities and has fallen behind on some of its
obligations. The company carries a warning in its financial statements from its
auditors raising "substantial doubt about the company's ability to continue as
a going concern."
(Carol S. Remond is an award-winning columnist and one of four who write the
"In The Money" feature. Most recently, she won a 2005 Gerald Loeb Award for
best news service content with "Exposing Small-Cap Fraud," a series of articles
that described how three small companies unscrupulously pumped up their
stocks.)
-By Carol S. Remond, Dow Jones Newswires; 201-938- 2074;
carol.remond@dowjones.com
(END) Dow Jones Newswires
12-08-05 0730ET
Copyright (c) 2005 Dow Jones & Company, Inc.
2 employess and a postal box in a strip mall. Check out my post from ragingbull.com. I don't feel like writing it again. Here is the link http://ragingbull.lycos.com/mboard/boards.cgi?board=HYBT&read=84
Lowman it time to update the board. Rhea is no longer CEO. He was fired for taking money without authorization. The new CEO is Finn, the old CFO.
Terax files w/ SEC delaying 10Q .......
also noted in filing as per below:
Is it anticipated that any significant change in results of operations from the corresponding period for the last fiscal year will be reflected by the earnings statements to be included in the subject report or portion thereof?
x Yes ¨ No
If so, attach an explanation of the anticipated change, both narratively and quantitatively, and, if appropriate, state the reasons why a reasonable estimate of the results cannot be made.
For the three and six months ended December 31, 2004, the registrant had negligible operations and a non-material net loss. For the three and six months ended December 31, 2005, the registrant currently estimates that it had a net loss of approximately $462,000 and $943,230, respectively. Actual results for the three and six months ended December 31, 2005 remain subject to further adjustment and actual results may differ from the foregoing estimates.
Terax Energy, Inc.
(Name of Registrant as Specified in Charter)
has caused this notification to be signed on its behalf by the undersigned hereunto duly authorized.
Date: February 14, 2006 By: /s/ LAWRENCE FINN