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Thanks for providing that link. It backs up what TCLL said in the 8K they filed in August.
puppydotcom: From what I saw earlier today, there was nothing there except company prs, charts, and a copy of the company's hype about its subsidiaries.
Keep it down, unless a more balanced box can be built. Frankly, anyone who reads this board for an hour would have more info than could ever make it to the box.
stockasaurus rex: New York, I believe.
stockasaurus rex: NP
stockhasaurus rex: Note the date on the PR announcing the closing of the purchase: September 8, 2006.
http://www.usxp.com/companies/universal/pr/pr.asp?prtitle=Universal+Express+Closes+%244%2C000%2C000+...
Universal Express Closes $4,000,000 Global Trucking Acquisition
NEW YORK, NY – September 8, 2006 - Universal Express Inc. (OTCBB: USXP), announces that on September 5, 2006, Universal Express and Global Trucking fully completed its formal closing for the Miami Florida Airport Trucking Company with revenues in excess of $4,000,000.
“We anticipate announcing additional acquisitions in this industry of delivering misplaced or lost suitcases from airports nationwide,” said Richard Altomare, CEO & Chairman of Universal Express.
“Global Trucking and all future trucking acquisitions will be re-branded Luggage Express Found,” said Mariano Guerrero, General Manager of Luggage Express Found.
“What a seamless transition this acquisition became. I commend the entire Universal Express management team for the technological, administration and logistical assistance. I also wish to thank Mr. Altomare for making us feel part of the Universal Express family so quickly, and I look forward to our future acquisitions, with which I am actively pursuing and in discussions,” concluded Juan Gonzalez, President of Luggage Express Found.
stockasaurus rex: I think it's really quite simple:
The 200K was the initial payment in a legal contract to purchase 60% of Global Trucking. The fact that USXP did not continue to honor its payment requirements, and cannot continue to do so does not make that initial payment refundable.
She could have honored the rest of the contract by paying Gonzalez the 350K or so that RA was behind in paying him, as well as any remaining money owed for the 60% purchase. Forgetting the fact that USXP doesn't have that money to pay, if she did, USXP would wind up paying several hundred thousand dollars for a business that is breaking even at best.
How much would she have been able to sell that 60% ownership for?
Pedro2004: I'm sure it took you awhile to do it. I doubt you'll find many here who appreciate the effort, but I do admire posts that provide documented facts. Nice work.
P.S. Hope you don't mind, but I cut and pasted your post over at RB, giving you credit, of course.
Dickmo: Some of us posters will probably be dead of old age by then.
janice shell: Yes. Also over on beatenvalue's Yahoo! board.
madmax: Finally, a sane voice...
DownWithPumpers: Not a problem.
needdiamonds: Just passing time, awaiting the demise of RA, and providing what facts I can.
If you read my posts, you will find no real negative comments about USXP (well, up until now, when there isn't anything good to say about it), but I've not been kind towards RA.
I don't tell anyone they should sell. But I do provide facts that they can use (or not).
I'll be gone when RA is truely put to rest.
virginian: Well, their is some 'good news' - although the receiver doesn't appear to be filing any SEC documents (8-Ks for sure, but most likely no 10K either), she will be filing requests with the court for approval of whatever deals she works out for the disposal of the two remaining subsidiaries: LE/VB and MadPackers.
At least we'll know what the firesale prices will be.
P.S. Ok, so it's not good news, but it will be useful to know.
needdiamonds: You do know that I'm not a stockholder, right?
puppydotcom: Actually, 24B. Apparently RA sold an additional 4B shares after the SEC motion for contempt was filed.
The OS then was just over 35B, now it's just over 39B.
Another move by RA that shows his character: The receiver reports that she told the gathered employees that there wasn't enough money in the company's accounts to pay their salaries. After she left that area, RA told them that there actually was enough in the accounts to pay them, but the receiver didn't want to.
Way to show your colors, RA...
P.S. He also told them he was going to buy the company and take it private.
I really like the fact that RA got 400K in salary out of the company for the first 8 months, as well as another 335,000.00 in cash payments with no reason given for those payments, and a nice 200,000.00 'Bonus.'
A 200K Bonus??????????????
Thanks. I just sent them to you. Let us all know when and where they are when you can.
To the private poster - Thanks for the info on box.net. The problem I have is that I downloaded the files to my work computer. My company blocks access to sites like box.net.
I may try sending them to my home computer, and then try it.
Again, thanks.
One of the receiver docs filed on Friday is a motion for the court's approval to basically give Luggage Found back to Gonzalez and his partner.
Luggage Found is barely breaking even, and USXP was 325,000.00 behind in its payment to Gonzalez toward its 60% ownership. Gonzalez will take on all Luggage Found assets and liabilities, and forgive the 325K.
Apparently she convinced Gonzalez to also give jobs to some of the USXP employees that were previously working for other subsidiaries.
An interesting statement by Gonzalez was that all RA wanted to be able to do was record Luggage Found revenues on the USXP balance sheet.
Unfortunately, the pdf is of a scanned document, so I cannot convert to text for posting in its entirety. I will find a place to post it, however.
Also of note, from the actual report, UJet is not an active subsidiary.
USXP has no ownership of UJet. What a surpise...
I just went to pacer - the receiver filed her first report on Friday. Not a pretty picture.
There are two main documents, with a few exhibits. Read some, but not all yet. Not pretty, particularly one exhibit that shows a lot of money being taken out of USXP accounts by Richard and his wife for 'personal expenses.'
I will try downloading all of the files. Will need someplace to post them once I finish.
The financial situation at USXP is dire. One thing she notes, several employees actually charged company expenses to their own credit cards in attempt to keep the company alive - about 51,000.00 worth. So far she has not found any evidence that Richard or his wife did the same.
When I can find a home for them, I'll let everyone here know.
Texasinvest: It did.
Like I said, I totally believed you, but I have to wonder what kind of connection to something someone may have when they provide the info as a newborn poster.
Sorry about your losses.
It is, but it can be put anywhere on the web, and not just on their own site.
A blurb could be added to LE website about a special offer, with a link to the page in question.
virginian: Don't get too excited. I've been thinking that it may be something they plan on putting up on the LE and VB websites. That would make far more sense.
virginian: If they are trying to capitalize on the LE/VB situation, it doesn't look like they're doing a very good job of it: I looked everywhere on the Sportsexpress.com site but couldn't find anything at all about this special offer.
I could have missed it, but it doesn't appear to be highlighted with a link anywhere.
It's also a bit odd to put it up on their website, if that's where it is, since that would assume that LE/VB customers would go there.
Odd.
Texasinvest: If you review my posting history, you'll know that I'm telling you the truth when I say I fully believe what you are telling us.
However, that said, I find it interesting that you created a new username yesterday (as did material interest, but that's another matter) to provide us with that info.
Why? Are you connected with USXP still, or with Sports Express, or you wanted to provide the info without using another username?
Just curious...
material evidence: If you review my posting history, you'll know that I'm telling you the truth when I say I fully believe what you are telling us.
However, that said, I find it interesting that you created a new username yesterday (as did Texasinvest, but that's another matter) to provide us with that info.
Why? Are you connected with USXP still, or with Sports Express, or you didn't want to use another username?
Just curious...
barryinla: Minimal chance, particularly in the short term, but not impossible.
That's why I'll wish everyone who wants to play this good luck, but tell them to watch it very carefully...
sharky: Sorry, duplicate message.
sharky: Well, that's nice. Enjoy it while you can, because if you read the 8-K you'd see there is nothing positive that will come out to support a sustained spike.
Good luck to you, and watch carefully. If the other mo-mo players start getting out it could be ugly.
P.S. Get this up to .05 through some miracle, and some of us here will be whole again.
Not that it matters much anymore, but the MJ vs USXP suit in Nevada was reopened yesterday. Won't know why until the minutes from yesterday's hearing(s) get posted on the court record.
virginian: According to material evidence, the deal won't be sealed until early next week. We'll need to watch to see if the notice on Sports Express changes to one that welcomes LE and VB to the fold.
But it doesn't look good that the phone number for LE is answered by SE people, at least according to one person.
I wouldn't count on the company showing anything postive for quite awhile. Read the 8K they filed in August:
http://secfilings.nasdaq.com/filingFrameset.asp?FileName=0001140361%2D07%2D017136%2Etxt&FilePath...
Things look pretty bleak...
Read the 8K they filed in August:
http://secfilings.nasdaq.com/filingFrameset.asp?FileName=0001140361%2D07%2D017136%2Etxt&FilePath...
Things look pretty bleak...
Camelbeach on RB found this at the Sports Express website:
http://www.sportsexpress.com/specialoffer/?gclid=CJyVzYis5Y4CFSMOgQodHAydLQ
10% Off Luggage Delivery for Luggage Express & Virtual Bellhop Customers
We know that Luggage Express and Virtual Bellhop are closed for business and we want the opportunity to become your choice for luggage delivery. Providing luggage delivery since 1999, Sports Express picks up your luggage at your home or office and delivers it to your destination. Sports Express looks after every detail from pickup to delivery, freeing you up to enjoy your trip. We guarantee your items will be delivered on time or we will arrange and pay for rentals or purchases. So take us for a test drive. Use promo code WELCOME and you’ll receive 10% off.
------------------------------------------------------------
USXP's Luggage Express websites are still live
http://www.866shipbags.com/
http://www.usaluggageexpress.com/default.asp
virginian: Unfortunately, we may not see any info on this deal until the receiver files her report with the court.
SportsExpress is a private company, and has no requirements for puting out any info on this.
The receiver has already shown that she will not be filing an relevant 8-Ks (she should have filed one announcing her takeover of the company awhile back, but she didn't). So she may not file anything, or put out any PR.
material: And when do you expect that closing to occur?
They won't need a new office - all of that stuff can be rerouted to their site. The whole thing was being run out of USXP florida site.
I agree - She probably contacted some of the competition looking for an offer.
I seriously doubt Sports Express paid very much.
Moving back up on heavy volume - looks like we may have picked up some mo-mo players...