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Also from that board:
Actually, all he gets is the right to continue his attempts. He's failed miserably at it for, what, 6 years?
This is the entry in the case's docket:
ORDER: For the foregoing reasons, it is hereby ordered that: Tifford shall be permitted and is hereby authorized to continue his collection efforts even after the Receivership is closed. He will be entitled to his reasonable costs and his 40% contingency fee on any moneys collected, on the terms and conditions set forth in this Order. Tifford will be responsible for all costs necessary to collect the judgments. It will be within Tifford's discretion to determine when collection efforts are no longer expected to achieve sufficient success to justify further action. If Tifford is successful in collecting funds, he shall first be permitted to pay his fees and costs of the collection efforts, subject to the approval of the Court. If there are funds left over after those payments, those funds shall be allocated and paid as set forth herein. Whenever Tifford collects funds totaling $100,000 or more, and at such time as Tifford determines that there is no cost-effective benefit to the estate from pursuing further collection efforts and that the collection effort should be abandoned, he shall petition the Court to re-open the matter to make a report of funds collected. Such petition shall be on notice to the SEC, and shall contain an accounting of the funds acquired, and of the fees and expenses claimed by Mr. Tifford, as well as a proposal for disbursement of the funds over and above such fees and expenses. Upon review by the Court, the funds shall be disbursed to Tifford and the various beneficiaries as directed by the Court. Tifford will be entitled to his prevailing hourly rate for the time expended on the distributions outlined above. (Signed by Judge Gerard E. Lynch on 8/14/2009) (jpo) (Entered: 08/17/2009)
Three things are driving the buyers, all of which are bogus.
MJ collection: Actually, it was a Jackson's collection with only some MJ items. The best of those MJ items were returned to MJ by a Nevada court. What was left, RA attempted to auction off and got less than 800,000.00 in bids, of which many were never paid. Right now, two parties are countersuing each other in NJ about the ownership of what is left, neither of which is USXP. Both parties have offered to buy out whatever interest USXP has for 50,000.00. The receiver has stated in her last filing with the court that she'd be very happy to get that money.
700M in judgements against 'naked shorters': Never was against naked shorters, but against 3 guys involved in a failed financial arrangement with RA. Two of those guys are officially bankrupt, the other is living on social security. The reciever reports that Talbot, the lawyer who has been attempting to find any money towards this judgement has managed to collect over 700,000.00 in the many years since the judgement, but wound up keeping all of that money based on his commission and expenses. Talbot has given up any attempts to collect any money from two of the guys, but still hopes to get something out of the other.
RA interview: Apparently RA is once again trying to get in the public eye by doing another interview. People think he will be spreading the word about USPX's brilliant prospects in light of the other two issues.
So, these three things have risen back to the top in speculator's minds due to MJ's death, the SEC's recent comments about the existence of naked shorts, and RA's interview. That's what's driving it now. But the facts are these:
The SEC won it's case against RA, Gunderson, and USPX. That victory was upheld by the Second District Court of Appeals, and the appeal to the Supreme Court was denied. USXP has no operations, at all. There is no 700M waiting to be recovered from anyone, and USXP doesn't own any MJ stuff (in fact, RA claims ownership for himself, and not for USXP - he also claims ownership of whatever money is found of the 700M for himself).
Can it go up from here? Depends on how long this 'feeding frenzy' continues. It is possible, but at some point in time, the music will stop, and there'll be no chairs for anyone to sit in, thus everyone holding shares at that time will be out of luck.
Good luck.
Sorry - USXP is still in receivership and will remain such until the receiver/court determines there's nothing left to get out of the stone. At that point, the receiver will most likely have the stock revoked.
USXP has no operations, none, at all. She's still trying to get one of the two parties that are countersuing each other over who really owns the Jackson material to buy USXP's interest for 50K.
Of course, the 25.00 payments may be towards paying off the 400.00 charge cited, but that doesn't make any sense either since the judge knows he'll be in jail for more than 4 years. The 400.00 would be paid off in 4 years.
There was an 18 page pdf associated with the entry, but I really didn't want to pay to download it, and I really didn't want to try reading it.
Good news and bad. According to the following entry in the case docket for April 28, 2009, the restitution number was set at over 3M. Bad news, apparently Plant only has to pay 25.00 per quarter while in prison, 25.00 per month after he's released:
Minute Entry for proceedings held before HONORABLE NORMA L. SHAPIRO. Restitution Hearing JAMES PLANT held on 4/28/09. COURT RULES: Deft. shall pay $3,252,252.02 in restitution. It is recommended that he participate in the B.O.P. Inmate Financial Responsibility Program and make payments towards this obligation and the special assessment obligation of $400.00, in an amount of no less than $25 per quarter. Upon release from custody, Deft. shall begin making payments toward any outstanding balance in the sum of $25.00 per month, payments shall begin 30 days after his release.Court Reporter ESR.(jh, ) (Entered: 04/29/2009)
Don't know why. And we are certainly down to precious few posters, and posts.
I don't think it has been 3 years. I believe they announced hiring the law firm on consignment back around January of 2008, and put out the 8k about being unable to continue opps around April of 2007.
Still, really doesn't look good...
Thanks for the links. Hilarious stuff...
Do you realize that at .0001, and nearly 40,000,000,000 shares outstanding, it would cost about 3,600,000.00 to buy 90%?
I have no idea. Probably still something going on - bk often makes it possible for failing companies to get out of a lot of debt and restart. Doesn't mean they'll succeed, but it is a fresh start.
And even if they are surviving, have a remote chance of succeeding at something for awhile, current stock holders are out of it completely.
At least nobody is pumping this one anymore...
That was my point - the absurdity of continuing to think that there was a mispelling, supposed to be intentional on the part of the government, that doomed Plant, yet with no consideration about why Plant would decide to plead guilty to all 4 counts, go to prison for 87 months, rather than present evidence that a contract did exist, but with the correctly spelled company.
I'm curious - do you think that there is a real possibility that Plant had a contract with Kihomac, but because Kikomac was cited, and therefore not possible to have such a contract with Kikomac (no existent company), the feds were able to get around this problem to nail Plant?
So, Plant decided to plead guilty to all counts, with no plea deal, and get 87 months in prison rather than present evidence that the contract did in fact exist with Kihomac, and not Kikomac?
No.
No.
And no.
"Could just be the remaining electrical impulses in this corpse too?"
More likely. I'm pretty much convinced that even if it is twitching, we will see nothing.
Oh well...
Another odd tidbit from China Wind Systems February 2009 Corporate Presentation - note current director of Tricell, Inc.:
Raymond Pirtle,Jr., Independent Director
Chairman, Compensation Committee of China Wind Systems; over 40 years of experience in the financial services sector; chief manager of ClaridgeCompany, LLC; founder and former senior managing director of Avondale Partners, LLC; former managing director and director of SunTrust Equitable Securities Corporation; General Partner of J.C Bradford & Co. from 1966 to 1989; current director of Premiere Global Services,Inc., Ice Web, Inc. and Tricell, Inc.
Unfortunately, there is a Tricell, Inc. pharma company out of Africa, so who knows.
Most odd and interesting:
http://www.bazaarlot.com/?action=ClassifiedDetail&id=7285
Hello ,
Firstly, we will like to introduce our Company to you:
Hughes Electronics Ltd
6 Howard Place
Stoke-on-Trent
ST1 4NQ
United Kingdom
Branch Office:
Address:Tricell Inc, The Grange, 100 High Street
LONDON
N14 6TB
United Kingdom
Huh? You knew her name, so I can reasonably assume you know she's on the U.S. Supreme Court, so you should have been able to extrapolate that since the document in question was on the U.S. Supreme Court docket, then it was her.
You can sit on the bid at .0009, if you want, and I'm pretty sure you'll get filled, eventually.
There's probably quite a few people holding this stock that don't read this board, so they have no clue that it is possible the company is twitching.
Yes, it could be interesting, so I hope it does become public.
I'm curious - who do you think it possibly could be besides her? You did notice that the info he posted was from the U.S. Supreme Court Docket, didn't you?
http://origin.www.supremecourtus.gov/docket/08a696.htm
Granted, scion could have just said yes when asked...
So, Richard is preparing to file a petition for a writ of certiorari with the Supreme Court. Won't go anywhere, of course, but what has he got to lose, except some of the money the receiver should be taking away from him.
BTW - your definintion for writ of certiorari is correct, but it can be mislead people into thinking Ginsberg is actually considering the case, while all that is happening is that Ginsberg is allowing a delay in the filing of the petiition. The definition for a petition for a writ of certiorari is more accurate:
www.techlawjournal.com/glossary/legal/certiorari.htm
Petition for Writ of Certiorari. (informally called "Cert Petition.") A document which a losing party files with the Supreme Court asking the Supreme Court to review the decision of a lower court. It includes a list of the parties, a statement of the facts of the case, the legal questions presented for review, and arguments as to why the Court should grant the writ.
Oh, well... It was nice for all of one day.
Still up 300% from Monday's close, but not for long...
Smeagle: go to the USXP.com web page and read the receiver's three reports and you'll know exactly what it is up to now, which is nothing.
No businesses, no operations, no employees, hell, she even got rid of the furniture.
All that remains to take care of is getting out of the Jackson mess - two different people/groups are claiming ownership, according to her third report, and both are willing to pay 50K to buyout USXP's interest, which she's willing to sell at, but she has no idea which of those groups will win in court.
As for the 700M in awards, she's willing to sell USPX's interest in that as well, but nobody wants to buy it for any price.
The number of shares may be high considering no shares have been trading for months, but the overall value was less than 3000.00.
We need some serious follow through.
Naturally.
Thanks.
Does beone even post on his own board anymore?
He's listed as the person to contact at the end of the second ad that generic posted.
I'm assuming he's a sales person, and not management. Just wondering if he's new...
Who is Christian Briggs? Was he there before?
Don't forget the friggin' website:
http://www.tricellinc.com/
OK, so nothing new there under Investors, but it is alive...
Holy moly - is this company wiggling????
Thanks for the info. Extremely interesting...
And management will take whatever's left...
Guess not.
IMNSVHO, we will hear nothing about anything, and this stock will die a slow, painful death.
I'll still double-up at .0001, just in case...
There is no restriction on the redistribution of info you legally get from PACER. From their FAQs section:
What are the acceptable uses of the data obtained from the PACER system?
The PACER system provides electronic access to case information from federal courts across the United States. The information gathered from the PACER system is a matter of public record and may be reproduced without permission. However, the PACER customer assumes all responsibility for consequences that arise from use of the data.
Also, I read through the Policies and Precedures section just to make sure and there is no mention of any restriction.
So, you can use the PDFs "Save As" file option to save the contents as a txt file, rtf file, or any number of other files, which would make it alot easier to post info anywhere that you feel is interesting.
Wasn't she supposedly the real mastermind behind the deception? At least that's what at least one person here was essentially claiming for a long time.
Probation and 1000.00 total costs seems right to me.
Any word on what Ruth's sentence was?
TIA...
Here's the text from the PDF of the court filing:
IN THE UNITED STATES DISTRICT COURT
FOR THE EASTERN DISTRICT OF PENNSYLVANIA
UNITED STATES OF AMERICA :
:
v. : CRIMINAL NO. 07-375-1
:
JAMES PLANT :
ORDER
AND NOW, this 11th day of March, 2009, upon consideration of the Government’s motion to delay final order of restitution, it appearing that:
a.
defendant’s sentencing hearing is scheduled for March 23, 2009;
b.
a comprehensive calculation of the victims’ losses will not be available by the date of sentencing, since the Government continues to receive responses to the victim notification letter and questionnaire it mailed to approximately 3,228 potential victims of the CyberKey fraud to which defendant entered a plea of guilty;
c.
delaying the final determination of the restitution calculation would provide the victims with the maximum amount of time to respond to the victim notification letter and questionnaire, thereby making them eligible for restitution from the Government; and
d. there is no prejudice to defendant in granting this request. It is therefore ORDERED that:
1. The Government’s unopposed motion (paper no. 92) is GRANTED.
2.
Counsel for the Government shall provide the court, defense counsel, and the U.S. Probation Office with a detailed analysis of the final restitution amount, listing each victim and the amount of restitution owed on or before MAY 22, 2009.
3.
A hearing will be held on JUNE 22, 2009 at 10:00 A.M. in Courtroom 10-A, at which a final determination of defendant’s restitution obligation will be made.
/s/ Norma L. Shapiro
J.
The sentencing date is still scheduled for 3/23. However, a recent entry in the docket shows the following:
ORDER GRANTING 92 MOTION TO DELAY FINAL ORDER OF RESTITUTION AS TO JAMES PLANT (1). COUNSEL FOR THE GOVT. SHALL PROVIDE THE COURT, DEFENSE COUNSEL, AND THE U.S. PROBATION OFFICE WITH A DETAILED ANALYSIS OF THE FINAL RESTITITON AMOUNT, LISTING EACH VICTIM AND THE AMOUNT OWED, ON OR BEFORE 5/22/09. A HEARING WILL BE HELD ON 6/22/09, AT 10:00 A.M. IN COURTROOM 10-A, AT WHICH TIME A FINAL DETERMINATION OF DEFT'S RESTITUTION OBLIGATION WILL BE MADE.. Signed by HONORABLE NORMA L. SHAPIRO on 3/11/09.3/12/09 ENTERED AND COPIES E-MAILED.(jh, ) (Entered: 03/12/2009)
So, the beat goes on...
And is Bud still flapping his about the whole thing.
Or beone...
No idea. Could be as simple as conflicting schedules, or as complex as Plant trying to get easier penalty by ratting out someone else.
Latest date is 3/23.
Plus the 460K added at .0008 Ask.