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Pedro2004: PDFs of all court rulings, depositions, motions, etc are available through PACER, for .08 per.
Transcripts of what actually is said during a hearing are not available through PACER.
puppydotcom: Yup, I'm aware of that. Just wanted to see if the poster would try to follow up his claim, made in two different posts, with any evidence of that being said in any court document or session.
Another long report on yesterday's court hearing (and, no it's not from RB). It's SLH's (the person who attended with anvil) version:
Well Lunch at SAM's across from the court house hit the spot, I
needed something in my stomach to prepare for what I was about to sit through.
CT is an exetremely knowledgable with the charactor of RA. A
straight shooter he has my respect.
As we waited outside the court house the was a camera crew, I ask
what they were there for thinking the USXP trial, but it was for some Russian immigrant being deported. Turning back to the street we say RA and his crew getting out of a yellow cab, no limo. All the way through the process of getting into the building, going through security and checking in your phones, they were five short steps ahead of us.
RA did look over at us but was careful not to endgage us in
conversation. We chosse to wait for our own elevator, it was that
uncorfortable.....We arrived upstairs and waited for court to settle in it would be another 5 or 10 mminutes before they would begin.
Looking at RA I thought to myself, Heres a a guy with a blue suit, red tie, a Florida Tan, yet he had no color..he was pale..he was afraid, thats what I could see.....His wife, a small, petite/ a little healthly,hmmm, brunette with a corperate
short bob cut, was not what I expected, for her there was coldness in her dark stare. Later when she spoke her voice crackled and trembled, for what it was worth, it was the human side coming through on both of them.....
As far as all the date shuffling, back biting, everyone turing on one another the judge saw some humor in it, but he was extremely paitent, thoughtful and had given these guys so much rope to hang themselves it wasn't funny.
The judge was annoyed withthe fact that they always wait til the last possible moment to file, than he has to deny it. Mostly as he put it, because the real estate that they are in, his chambers, is booked, and his time is valuable. he said it in a way that all agreed.
He also directed some of the blame for delays on Ms. Lutz office for failing to expodite in a timely fashion.....Lot of talk of cutting deals....but Judge Lynch said she needs to get approval for her hire up before the NOV 25 criminal hearings or else forget it. He said I quote "you have to either fish or bait the hook" So we will know more about the criminal side of things come next month.
The purspose and intent of today was for the Gundi/Altomare contempt hearing...Judge Lynch agreed to the new council for Gunny would be mR. Garvey and the filed all the paper work....he must cut a deal with the SEC and be down with it by Jan 11 ( if he turns states evidence then, well his fine may be 0)....Since they are going to trial again on Nov 23, the judge felt this all could be package neatly between the SEC and the Attornies, the Judge was there to enforce the actions not make the deals......
The judge wanted to move to the next order of business the contempt charges, he ws please that the reciever he assigned was able to get a report such a short period of time. He was satisfied that RA was no longer in a position to issue more stock or release any more fraudulent pr's. He also noted that although the pr's were misleading and thes tock sales were inapropriate, he was glad that RA was no longer in position continue as the an officer of the company and he ask Rich to acknowlede the fact the he has steppped down. Tifford said he has done so under protest. The Judge wanted to hear it from RA at which time RA said that would no longer be represtenting USXP. Nor was he any longer employed by them. At this point the judge felt that he had accomplished his mission, the public was now safe from any further actions by RA the CEO. Important to know that the judge left it up to Lutz and Tifford to negotiate the fines....I believe because of the state of affairs the company was
in, along with the fact that they could not cover it, they had passed on the the corperate fine....perhaps CT can elaborate on that part.
The were some chuckles or gasps when Mr. Tifford expanded on RA
settlement..." I am prepared now to give th court a check for thirty thousand dollars, and 10,000 a month until the balance is paid off, futher more they will put their condo up for a sale, Mrs. Alstomare would reliquish all claims to any equity ( since it was owned as tentant in common with joint rights of survivor ship) Judge had asked she waould do of her own free will since Tifford was not her counsal of record she said it was of her free will....It didn't sound good.....The judge wondered how come RA was so short on case....Tifford said he had been out of work for the last few weeks...............I thought i wa gonna loose it...........
The were some chuckles or gasps when Mr. Tifford expanded on RA
settlement..." I am prepared now to give th court a check for thirty thousand dollars, and 10,000 a month until the balance is paid off, futher more they will put their condo up for a sale, Mrs. Alstomare would reliquish all claims to any equity ( since it was owned as tentant in common with joint rights of survivor ship) Judge had asked she waould do of her own free will since Tifford was not her counsal of record she said it was of her free will....It didn't sound good.....The judge wondered how come RA was so short on cash....Tifford said he had been out of work for the last few weeks...............I thought I was gonna loose it...........The judge then cited some claims from the reciever report about RA income, his wife income and for what she did to earn it.....The fact that there was moeny that were not accounted for....but that was for the next trial this was the contempt hearing....
Ms. Lutz was concerned that RA would be a flight risk, since the
reciever had uncover some emails involing RA relocating to Kuwait....The judge said that he didn't see MR A as being a flight risk and it should be a problem...he felt he couldn't incorserate RA because as much as as he and Tifford were unprepared with facutal documentation, Ms Lutz had been in conversation with Tifford as to a payment schedule and he thought it best they work it out between them and he would inforce it......Again this Judge was as fair as a judge could be, he was giving RA every benifit of the doubt...So as far as I could tell, these guys skated pretty well on very thin ice..
Now the talk of a grand jury probes and the FBI and all, but the judge warned Ms. Luhtz, that they can't start something then take two more years to do something about it..So there you have it.
There is some other bits and pieces but thats most of it...His son was there for support, he looked quite young, to bad it has to end this way.
But the facts will come out at the trial on Nov 25, 2007.
Lastly the judges comments on emails sent to him by share holders and he said that this is America and they have there right to express their opinions. Unfortunately he can't let peoples, the publics, in this case shareholders who have been mislead, letters and ideas influence his interpretation of law.
Although he did caution the public as to the content of some of the emails, that theats against the courts and its officers would not be taken lightly.. All of the emails and letter theating bodily harm are totally out of order and had been turned over to the US Marshall office and the FBI.....
As we left we hurried the elevator door closed just as the clan
approached it. As we waited in line down stairs to collect our phones and pdf's, I notice RA leaning against the wall, not standing, but the sideways lean. As I left he was staring at the ground, he looked up, whewe exchange a glance for a millisecond before his eyes went back to the ground....We left, not looking back.........
For me this saga is over,I now have piece of mind, seeing what I saw, after giving this the last couple of years to follow.....I can put it to rest know that for me, my questions have been answered.....move on.....SLH's most humble opinion of course.
The following is a rather detailed report about yesterday's court session (and, no, it doesn't come from RB):
Today SLH and I (anvil) went to the court house. We had lunch and waited outside for RA to arrive. Around 2pm, RA, Babs and Tifford arrived via taxi. Both SLH and I took pics of them with our cell phones.
More than likely, we were obvious as RA kept looking over at us. After they went into the court house, we went in. We were directly behind them in the security line. After getting through security, we found Lynch's court room where Tifford was emersed in dialogue with Leslie Hughes of the SEC. RA and Bab's were most likely stashed in the witness room.
There were several cases before ours, so we waited in the court room. RA, Babs, Brian, Tiff and Gundy all sat in the back row. I made the mistake of moving SLH and myself to the front row (only 3 rows). A mistake, because we had to turn around to see RA's reaction to certain things said by the judge and gundy.
In any event, it was our turn. There were two rows of table in front of us for attorneys. The back row was filled with defense attorneys including Tifford. The other attorneys were for Sandu, Medriattta and Neuhaus. The judge took care of housekeeping issues and moved on to some questions from non-RA attorneys.
The first issue was Gundy. Judge let Tiff off of representing Gundy and let his new lawyer in. The new lawyer needed time to get up to speed, judge agreed and Gundy was off the agenda.
Sandu's attorney has issues because he has no one to collaborate with. Medriatta has proposed a settlement with the SEC and DOJ to become a witness against RA and Gundy in criminal court. Neuhaus's attornery informed the judge that Neuhaus wants to cooperate as well.
I should mentioned that during this proceeding, RA did not look
remorseful, but definitely sullen.
Thanks to the guys who went.
Given everyones anticipation, I am going to quickly summarize, and fill in the details tomorrow.
1. NSS never came up, not one mentioned.
2. Tifford made a big announcement at least in his mind.
3. He announced that RA has resigned
4. He announced that he had a check for RA to pay the court $30K now, $10K a month or 20% of his gross income monthly, sell his new condo and give equity ($600-800K) to the court, and he is trying to borrow $1.5MM from people to give to the court.
5. Apparently in Florida, there is some strange joint tenancy and
Tifford said that Babs has agreed to give the proceeds from the sale of the condo to the court.
6. judge basically said that this is a modest proposal given Janes report, who was there.
7. SEC said, that Babs two weeks ago sold $500k of jewelry, but did not offer that up as payment. Apparently separate assets here.
8. New date is Jan. 11th for hearing on whether RA is making effort on repaying the money. Judge would prefer they settle, but he clearly pointed out that alot of money has been paid to RA this year.
9. Judge basically said RA and Gundy is guilty of fraud and lying to shareholders and public and that is an accepted fact.
10. Threatening emails to Jane have been sent to US Marshall for
investigation.
11. Jane said that LEF is gone and she has proposals for rest of assets that she wants to talk to the judge about. She said reditors will basically get nothing.
12. Judge said that he biggest concern in contempt was RA continuing to lie and issuing illegal shares. Not that is moot. All that is left is disgorgement and told SEC and Tifford to deal with it. As well as gundy. All RA bank records are going to forwarded to SEC.
Bottom line, nothing left but the shell and the $700MM judgement,
which was not mentioned today. RA is moving on to the next chapter, criminal trial.
tklantizis: Thanks for your report. I do have one question about one thing you stated about the appeal going forward.
As far as anyone can tell, there is no record of any appeal actually being filed, not in the lower court nor in the appeals court records. A notice of appeal, yes, but no appeals.
Are you telling us that the judge said that he was allowing the appeal to go forward? If you are, you are the only one that I can find who is reporting anything about an appeal.
TIA...
I asked someone if RA had to address the judge, and essentially got this answer:
Only when he agreed to pay the SEC $30K plus $10K per month (or 20% of his Gross Monthly Earnings) And the proceeds of the Condo (Babsy agreed) of $300-800K.
virginian: They'll be available on PACER sometime in the next week, I would guess.
Trust me, the info will become available from several different sites.
Still nothing about the hearing on any of the three boards I monitor.
Pedro2004: Nothing on any message boards, yet ('though I can't say what's going on at beatenvalue' Yahoo! board). Stuff should start showing up around 5:00 or so.
aterial evidence: That's wicked cool, but can you give us a hint as to where we can go to read this blog?
TIA...
janice shell: That would be easier to figure out if initials were provided for all docket entries.
puppydotcom: You're too quick for me.
I have to admit that the entry about the stay isn't clear to me, particularly the (tro) reference - why would a temperary restraining order be issued if the stay is being denied?
puppydotcom: Done.
puppydotcom: Do you really expect those who didn't want to hear it ... see it .... or talk about it before, to want to didn't want to hear it ... see it .... or talk about it, now?
puppydotcom: Thanks. So, it's clear now that criminal investigations are underway, and have been underway for quite some time.
Semper fi, RA...
puppydotcom: I don't think so, but you can't put anything past RA.
material evidence: I was very surprised that 100K was even a possibility.
puppydotcom: "At least Share holders will be safe from him in the future"
I would not put it past RA to set-up a private company and to go though his rolodex looking for some of these guys to become 'private investors' in that company.
Sad part is, some just might...
puppydotcom: Although I fully expect you to be right, eventually, it is looking like, at least in the short term, we will be back to .0002 x .0003.
I'd guess 90% of the subpenny players don't do any real DD, including reading message boards. For the most part, I suspect that those people are buying here because they believe RA's lies about the NSS position in this stock, and are betting on the price increasing starting next Tuesday.
I believe they're in for a very rude awakening, but there is no way to convince them otherwise.
Hell, we can't even convince people who actually read these boards and should no exactly what is going on, but insist on seeing no evil, hearing no evil, and saying no evil...
material evidence: I've been looking for a sign that the deal for LE/VB actually went through, but all web sites still talk about USXP being the parent, and there is no sign of any link to the discount offer that Sports Express apparently had ready for use.
Any more info about the deal?
TIA...
sandvet: Welcome back - So far as I can tell, there are only two people currently charged by the SEC and Justice Department relating to CKYS: Plant and Ruth what's-her-name.
Some people here are keeping close eyes on the SEC and criminal cases.
puppydotcom: They'll still be lots of time after the 15th of October for those people to see that RA's claims of massive NSS, which he claimed he had the evidence to prove, yet never has made any effort to prove, were as accurate as any number of his other 'facts'.
This stock will be USXPE until 11/3, at which time it will start trading as USXP.PK (either on the pinksheets or grey market).
Dr Wilson: Volume just passed 367M shares traded today for USXPE.
It's now USXPE.
It's now USXPE.
virginian: No, he is barred from servings as a director or officer of any publicly traded company.
The 5.00 has to do with being permanantly barred from participating in the offering of any penny stock, including engaging in any activities with a broker, dealer, or issuer, for the purposes of issuing, trading or inducing or attempting to induce the purchase or sale of any penny stock, which the SEC defines as a stock that trades for less than 5.00.
puppydotcom: Add the 'E' tomorrow should wave a red flag in the face of many of those mo-mo players.
Ya think?
ETrade shows over 250M so far...
Once in awhile I get it right...
Stockdung: So it looks like RA bought his way onto those 3 committees, but he just forgot to pay them.
There won't be a shell to r/s into soon. Besides, there are plenty of 'clean' shells out there.
I do expect that the SEC will eventually move to get it revoked, once it actually stops filing 10Qs/10Ks for awhile. Although that could be a problem for the SEC - one of the thresholds that defines a stock that has to file SEC docs is total assets. This POS won't have any assets at all.
There won't be a shell to r/s into soon. Besides, there are plenty of 'clean' shells out there.
I do expect that the SEC will eventually move to get it revoked, once it actually stops filing 10Qs/10Ks for awhile. Although that could be a problem for the SEC - one of the thresholds that defines a stock that has to file SEC docs is total assets. This POS won't have any assets at all.
CoolD: The receiver does not have that power, nor is it within her responsibilities. Continued trading doesn't harm the value of whatever assets she can find, which is essentially her job.
In order to revoke its registration, the SEC would have to request that action from a court. I'm not sure is they can request the current Judge perform that action, or whether they'd need to file another court case.
As for who it is that is buying, subpenny players who don't bother to read message boards, or do any real DD beyond maybe reading the latest headline on Yahoo! or looking at a chart that resembles how this pig looked in early 2006.
I'd say at least 80% of the buyers have no clue about what the current status is, and the others refuse to believe it, or are listening to crap Bud Burrell still feeds them, or RA's BS about the huge NSS position that is going to push this stock to 2.00 a share come Oct 15th.
flaflyersfan: She does give some numbers in her report that are as of June 39th year end, at least according to the company's own accounting records. I seriously doubt she has hired an accountant to do anything for a 10K.
She hasn't bothered filing any 8-Ks, even though things like her takeover of the company clearly was a material event.
flttrader: I believe you are right, but there are many who think the charts work down here.
Bizarre, but true. I see them posting charts all over the place for stocks trading down to .0002/.0003.
wii1dr: I've downloaded a couple of dozen pdfs from the court records over the past couple of months. I went and looked at them this AM and discovered this:
Some have no stamp at all, electronic or otherwise.
Most have the electronic (I assume it is electronic) stamp.
One I have has just the hand stamp.
One I have has the electonice and hand stamps.
So, unless PACER is posting docs in the court record that shouldn't be there, then your statement does not hold water, at least in NY federal district court records.
fltrader: Doesn't surprise me at all. A huge percentage of people who trade subpenny stocks don't bother to read any message boards, and if it isn't posted as 'news' on Yahoo! or pinksheets.com on IHub, they'll never know about it because DD isn't there thing.
Right now, the chart looks virtually identical in formation to what it was when it went to over .045 back in 2006. That's what these 'investors' are looking at. The chart sucks, but they see that comparison and think, 'here we go again.'
There were much more MMs trying to sell at .0003 (13 vs 8), and fewer trying to buy at .0002 (9 vs 14) yesterday. That should get more pronounced today.
wii1dr: I'm curious, but what do you call what is electronically 'stamped' across the top of each page of each document?
Looks to me like the case number, and filing date.
You could, of course, use PACER to go to the court records yourself, and read them there.
GCRox99: Where does RA find these guys who don't get paid for their buyouts?
According to his SEC filings over the years, it looks like he still hasn't paid off the VB purchase.
virgianian: Don't know if you got this from anywhere else, but I missed the price tag for LE/VB in the receiver's report.
She has a 100K offer for LE/VB, its customer lists, and whatever else there is, that she has accepted contingent on the approval of the court.
So the only subsidiary that is left is MadPackers, and she's working with someone on that (or she can take 5K from Brian).