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Dr Worm: I'd love to see some kind of huge short squeeze, but I'm not into believing that shorting is a major problem with stocks in this price range, particularly when I cannot find any evidence that such shorting exists for a particular stock.
And, if your potential scenario is correct (I can be wrong, often am), aren't the persons that would have had control of the 120M shares that will no longer exist be the ones who would have had to short those shares, and aren't they the NJJ owners, the same guys who now run the company?
I hope you're right, and I'm wrong, but I personally believe the whole mess comes down to getting most of the VAT funds, and relatively soon. Looking at the financials for the the seven months given in the 8K, I see a positive result only if VAT funds are paid, and even then there is a huge one-time gain that I have yet to figure out that puts the company over the top, but does not appear to add anything to the cash position.
It is possible TCLL can come out of this a huge winner for all its stockholders, but I'm not going to hold my breath waiting.
Good luck to you on this and all your other ventures...
All of that is certainly excellent news, except for the minor problem of the company being unable to continue its operations without the VAT cash.
How long will that take (if ever) to get? And if it takes the long end of their estimate (3 years), what exactly does that mean to the company (and to us)?
8-K filed - things look grim due to inability of company to recover VAT monies from government:
http://biz.yahoo.com/e/070823/tcll.pk8-k.html
gimp_vulture: I guess we all have to wait for the next 10Q. Can't think of anything French can do to come up with a huge paper gain to mask the ugly truth, like he's done this time.
Notice how many new contracts have been announced the last 8 months?
Back to sleep until then...
gimp_vulture: It's working - French knew that very few of his 'investors' and penny players would actually read the 10Q and discover the truth.
And they don't read boards except to see if there are any 'bashers' which they take as a good sign...
gimp_vulture: It's working - French knew that very few of his 'investors' and penny players would actually read the 10Q and discover the truth.
And they don't read boards except to see if there are any 'bashers' which they take as a good sign...
Ahhhh... that's better. Up 250% on a 100 share (2.50) trade.
Dueling 100 share trades...
gimp_vulture: You're totally correct, particularly about the assessment of the PR.
This is the first stock, even OTC BB stocks, that I've ever seen totally ignore the implication of a huge one-time paper gain on the earnings. Every other stock I've ever followed that had one of these, mentioned it somewhere, no matter how buried, in any earnings pr they put out.
French was clearly being disengenuous, if not deceitful...
Too funny - Down 30% on a 100 share (.70) trade...
Basically it was hype and hope regarding RA's supposed efforts to buy AIRNET SYSTEMS INC (ANS).
gimp_vulture: The error in the NT 10Q was the claim of making 260K net for the 6 months.
Just about 74K was the number.
Looks like French lost just about 500K once you back out the one-time 'gain' of 700+K.
Another shit quarter.
gimp_vulture: I suspect that the 250K reported for the 3-month period was a typo - It probably was supposed to read 450K.
Deduct 189K loss for the first quarter from 450K and you get 261K for the 6 months.
gimp_vulture: I can't wait to see the math Monday...
Based on the gain that ETrade shows for .0001 this AM, it appears that the last trade in this stock before today was at .00009.
gimp_vulture: I got my number from the 2nd paragraph:
The Company believes that its net income for the six months ended June 30, 2007 will be approximately $260,000, compared to a loss of $1,340,000 for the six months ended June 30, 2006.
Most interesting - He lost 130K or so for the first 3 months, but now he is claiming 10K more in net income for the 6 months over 250K for the last 3 months?
How exactly does that work???
gimp_vulture: The profit was for the full year, which means it would have to include a deduction for the first quarter's loss (130-140K?).
Still 400K more loss than you projected.
gimp_vulture: The picture will become pretty clear Monday. If you're right about what the paper profit should have been, then the real numbers must suck big time.
In that case, we should see single digit pps Tuesday...
Robtff: You can't halt a grey market stock.
The SEC can go to court and seek to delist it, but no such action has been taken by the SEC.
gimp_vulture: Whoever ran the price up yesterday is paying for it, dearly, today.
This might go all the way back to the .19 it started at yesterday AM...
gimp_vulture: Missed that earlier, but was thinking along those lines later tonight.
It would fully explain the results. One-time gain.
Seems to have fooled someone today...
As much as this amazes me, and as hard as I find it to believe, according to the NT 10Q that came out about 40 minutes or so ago, French is claiming 260K in NET INCOME for the 6 months of 2007.
I checked, and he is comparing the 260K against the actual net loss from last year (1340000.00), so he does not appear to be misidentifying 260K before interest expense.
If this is real, he is coming in with about 400K net income for the last quarter.
Trust me, I don't believe this. It appears to be far to good to be true, but this is what French is telling us:
http://secfilings.nasdaq.com/filingFrameset.asp?FileName=0000909012%2D07%2D001167%2Etxt&FilePath...
I can't wait to see the actual filing Monday...
The drive to .0001 (or lower) just resumed...
Fhanen350: Yes, it does, but if you right-click CKYS and select News, you'll see .0001 on 19100 shares.
ETrade has has some really flukey problems with MarketCaster for quite awhile now.
jonestint: The next earnings report is for the year ending June 30th. It is not due until Sept 30th (October 15th, with the 15-day extension).
janice shell: He's been telling shareholders that he has been refusing to pay the rent, putting it into escrow, because of problems with the building.
RA doesn't know how to tell the same story about anything...
knowlesmsncom: That request comes as part of the penalty phase, and not before Plant is found guilty by the SEC. I'm not even sure that the Justice department can demand his removal as the CEO even if he is found guilt, but clearly cannot request such an action before.
knowlesmsncom: You example clearly indicates that the court had ruled in favor of the IRS and against the apparent defendants.
Neither the SEC or FBI or CIA or NCIS has any power to depose a CEO. A board of directors does, and a court does. However, there apparently is only one member of the board left standing, Plant, and as you are so fond of pointing out, no court has found Plant guilty of anything yet.
Norodnik on the RB board posted a copy of a post beatenvalue (Yahoo! moniker), also known as beone on RB, posted on his Yahoo! board about his latest conversation with RA, as well as his personal opinions about it. For those who don't know beatenvalue/beone, he's been long since the first default judgement award, and has reportedly sunk over 250K into this stock, and supposedly convinced his family to invest heavily.
Here's the info:
"As one might expect of most long-standing shareholders at this
juncture in the game, I had determined I was not going to yield to another round of smooth-talking by the chairman this time around...I just felt I needed to dig a bit deeper, although I was fully aware this guy goes into a shell when you do that and also that in all likelihood the SEC had harmed this company, this man and the many shareholders in regard to the NSS thing greatly and thus his mental state might be a bit on the edge...quite frankly, this guy loves to hear his own voice and dominate any conversation, and unless you shout back and drown out his voice, I doubt he ever listens to what you are saying, unless it is in response to one of his comments or jokes...
In any case, he appears to be of the opinion that it is extremely
important for the company to get a jury trial at this stage in the game...no word on when the appeal will be filed...I think he said an appeal to stay Judge Lynch's order and ruling will be filed soon...if this were granted, it should stop the goons chomping at his door...he cannot raise funds the old way (by issuing any more shares)...I asked him if there was an injunction by the judge towards this...he said "No, but everybody is sufficiently scared", possibly implying the transfer agent is spooked enough that he does not want to test that route...but he said he never has had and never will have any trouble raising funds to keep the operation going, but the SEC has made it tough...he has lost a few folks...some young ones whose mothers read the stories and decided to get their children out...some who moved to safer places to work...all affected by the SEC receivership thing...as I was talking he got a call on his cell...he excused himself and took that call, but I could hear
this conversation...he thanked the other person for sending some
document the previous day and said he has it in his briefcase and
will go over it during the weekend...some more information exchanged and then he got back to my call and said that was somebody who had promised him a million $ !!! It was clear that guy sent something (or was going to send something) that RA was grateful for...
First, about the story in the SF Biz paper and the controversy about the eviction and landlord, etc., he told me about the same thing he told Toka...the landlord had been negligent on many things...the building had issues...repair going on...non-responsive landlord...the company had put two months rent in an account at the court...I am assuming USXP has also sued the landlord to rectify certain things...he said in Florida you cannot evict anybody if the rent has already been paid to the court where the case stands...he said the reporter who wrote the piece in the SF paper is the same guy who wrote negative stuff about Eagletech Communications...whether he is a paid hand or a two-bit reporter
remains to be seen...if the landlord does not accommodate (reduce
rent, etc.), he would be looking for another location...the building they have used to be the best in Boca...35 k/mo rent...
I told him there are a lot of shareholders who are unhappy about all the promises and forward-looking statements he had made that never came to fruition...he challenged me to name just three...I told him I could name a hundred...how about I write him a list ?...he started getting defensive...I said I know what you are going through...he immediately shot back "you have no idea"...I said, fair enough...I have an inkling, but let me tell you a lot of shareholders are quite tired about the promises made or rosy pictures painted that never materialize...he said name just one...then I let it out...I told him "you said during the webcast you were meeting with some record company folks about some lucrative deals with the MJ records...ypo said you were meeting with some hedge funds to perhaps buy back a bunch of stock...you told me an O&G company had asked for more up-front funds for closing and you were arranging for that and the closing would happen weeks ago...none of that ever transpired and there was no further word on these things from the company since the
webcast...then I said obviously you are strapped for cash, otherwise you could have closed these O&G acquisitions...he said yes...I asked him "what happened to the Saudis ?"...he said rather nonchalantly "they are gone"...that shocked me...not sure if he said that because everyone was bugging him about it or that was the plain fact...he said they can choose not to be involved with a company with a 20 million $ judgment against them...I said but don't they have a ton of shares that they purchased ? he said as far as he knew that was still the case...I got the impression the Saudis have stiffed him, either because he did stuff he was not supposed to do (they hate being dragged into any controversy) or that they decided this company had too many skeletons in its closet...
I asked him to look into his crystal ball and tell me where he sees the company in a few months...he said he did not know but he will still be around...I said what about the GF clause being lifted ? is that going to affect the SP ? Are we looking forward to a great Xmas or is it going to be one long drawn out struggle with the SEC, etc...he said he had no idea...I told him how he told the shareholders last December it was going to be a great Xmas...then this spring it was going to be a great summer...he said something sarcastic...I am having a great summer, aren’t you ? I told him "not w.r.t. my investment in USXP"...I could sense I was getting under his skin...I told him I doubt I would call him again as I seem to be irritating him...he said "no, no, it was not that but that I was asking him too many soul searching questions and he might have to block me from that"...I thanked him and hung up...not a good feeling after that call...not a bad one either, but certainly not a good one...
I feel the SEC has made life miserable for this company, rightfully or wrongfully is yet to be seen, but in an ineffective and unprofessional manner for sure...earlier, he insisted a jury trial was extremely important for the company because in that trial, since USXP had already won a judgment on some naked shorts, the company does not have to prove anything...it will be for the SEC to prove what they were doing when this thing ws going on right under their noses...that is why the SEC is scared of a jury trial...he said if they had come to him and said you owe us 20 million, but tell you what, you give us 200 million and we will help you collect the 600 million, we would have agreed to that...he also said for some reason the SEC is scared of him and he has never been scared of the SEC..."not sure what it is about me but I was never scared about these guys"...I tried to coax his ego saying "it must be because of your marine background and the fact you are a NYker !!!"
Bottom line...I suppose Tifford will file a stay in the 2nd circuit court for Lynch's judgment, followed by an appeal of that judgment pretty soon...I feel unless the appellate court judge acts expeditiously and grants a jury trial, we are screwed big time...of course, RA will drag this out into the Supreme Court, etc...but no body is going to come on board to really help this company unless this SEC cloud hanging over its head is lifted...
Right after RA said the Saudis are gone, he also said who can blame them for not being involved with a company with over 20 million in fines, etc...he also said, at this time every year these guys are somewhere in the south of France anyway (in their yachts ?)..
Another thing...about the one imminent O&G closing...he said he was trying to get the seller to bear the extra 800k the banks were asking for as a result of the pressure arising from the SEC filings...
He also said the judge had imposed a 2 million $ fine on him...it
would be nice if the judge could prove he took 2 million...same with Gundie...I get the feeling that the SEC has no evidence any funds received by selling shares were directed to personal accounts of RA and family...if this is true, all funds raised by RA by selling shares were used either for meeting payroll, expenses for advertising, his salary, expenses incurred by him and other executives on behalf of USXP, etc...clearly, the SEC would have a weak case to prove he sold for personal benefit, except to maintain his ego of remaining as a CEO of a potential billion $ company !!! the SEC's position that he put out misleading PRs is 100% valid...except, his motivation for this can only be to trap the naked shorts and to keep his bloated ego fully bloated...personal enrichment has not been proven as of yet..."
janice shell: Maybe move his operations to his floating condo?
Divine Madcat: Thanks for the update. Looks like this one will be dragging on for quite awhile, still.
Interesting - pinksheets.com reports the short interest on pinksheet stocks, including tcll.
http://www.pinksheets.com/pink/quote/quote.jsp?symbol=tcll#getQuote
According the them, only 10,137 shares as of July 25th...
Interesting - pinksheets.com reports the short interest on pinksheet stocks, including tcll.
http://www.pinksheets.com/pink/quote/quote.jsp?symbol=tcll#getQuote
According the them, only 10,137 shares as of July 25th...
Dr Worm: Wasn't me, either, but it sure looks good (at the moment) for the 380,000 shares I bought because I forgot to cancel the GTC order last week.
Of course, this is probably just another inexplicable spike like the spike to .035, but who knows...
flaflyersfan: That idea is not far from my beliefs either, 'though there is no direct evidence that it is what happened. It is something that I definately feel RA is perfectly capable of doing.
Good seeing you around again.
BIGJOHN: The 'Winding Up' list is supposedly a list of companies that are essentially declaring the equivilent of BK here.
Someone found them on that list back right about the time the stock took a big hit before it ever went pink.
virginian: Friday. Mighty_Mezz posted link to a pdf of the court's ruling.
RA lost his motion to have the charges not covered by the summary judgement dismissed with prejudice (unable to be brought up again).
RA lost his motion to have those charges handled by a jury trial (surprise, particularly since the SEC has been granted their motion to dismiss them without prejudice - can be brought up again at the SEC's request).
RA lost his request to have the summary judgement's penalties stayed until the appeal process is finished - they are in effect now. Looks bad for RA on the contempt motion, since he has been flaunting the judgement penalties all along.
Not much hope for RA to beat the receivership and contempt motions now.
janice shell: In some countries, executed.
Doesn't look like anything new has been added to the dd info since 4/4/07, but here's the link.
www.duediligencenet.com
lifegear: No. The suit against SEC was tossed out of court and that action was upheld by the 11th Circuit Court of Appeals.
Even RA finally has started to acknowledge that fact.
There is no other suit that has been filed by RA, Gunderson, or USXP against the SEC or against any NSS.