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"immediately"...a forward looking event. We were going to but the dog ate it. Sorry.
...or maybe they have stopped pussyfooting around and are snapping on the cuffs.
excellent post jet.
So often it seems that on one plane a relatively, although not refined, level of understanding of the market ins and outs is demonstrated so as to establish some credibility regarding a course of action, namely investing in snsr, that is a polar opposite to that very same level of understanding.
You said "hoodwinked". Doesn't that mean scammed?
Not clear at all. Do you have any sort of evidence or a link to demonstrate why you and others are so adamant that this must be so?
Suppose you are right, although I think you are wrong. Then there would be no reason whatsoever for people to purchase common shares since it's all taken care of by the smarties. That would leave no reason for anyone to purchase even a single share, no?
Even more significant, there would be no reason for the company to sell common shares, yet the 10Q's show millions of dollars of common shares being sold by the company to cover virtually all expenses.
So, you are clearly wrong about the financing.
Blind, deaf, and dumb indeed.
Nerd...
As indicated in your post the numbers are for total expenses. Here is text from the 10Q that clarifies the numbers you posted:
"OPERATING EXPENSES. Our operating expenses consist primarily of payroll and related taxes, professional and consulting services, expenses for executive and administrative personnel and insurance, telephone and communications, facilities expenses, travel and related expenses, and other general corporate expenses. Our operating expenses for the three month period ended September 30, 2009 were $1,546,560 compared to the three month period ended September 30, 2008 which had operating expenses of $766,819 an increase of $779,741 or 101.7%. The increase was primarily due to charges associated with stock and employee stock options issuances."
Nowhere is Research and Development identified, but payroll is a primary expense.
Now you seem to say selling shares would not cover this, but read this from the 10Q:
"Net cash provided by financing activities was $1,468,039 principally from the proceeds of the sale of common stock, as compared to $757,140 for the nine months ended September 30, 2008."
You said "This money did not grow on a tree and they did not hit the lottery". That's true, and they sold common shares.
So, there is no reason to believe there is somebody behind the scenes financing this. They sell shares. It's what they do, no?
I don't think what I described is illegal or leads to prison. I believe it was other things that they went too far with and got in trouble for.
When I say mantle of legitimacy, I do mean legitimate, as in not fraudulent. The allegations they are dealing with go further than that.
I don't think there is any mystery about it. The shutdown date you refer to is based on your own assumptions. My assumptions say it isn't overly expensive to finance a mantle of legitimacy while selling the resultant micro basis shares on the open market. If it were so, the shutdown date would have come and gone a long time ago.
If there is funding, it is merely to the same ends as have been supported to date, which do not include the sale of a successful product. Not necessary for supporting the business model.
All in my opinion, of course.
Nerd...Anything is possible in this great big world of ours, but certainly your conclusions are not compulsory given the factors that you cite.
It's all there in your post. Somebody is making plenty of money year after year. Enough money to cover whatever the minimum amount is that it takes to maintain a mantle of legitimacy for the shell, plus profit. They do not care about how stupid the management is because it is not important to them that management does a good job. Why? It is reasonable to assume that it is because they never have to actually sell anything, other than the shares, to make the kind of money they want to make. It's all implied in the way they have done business year after year. That's my take based on simple observation of the company over the years.
Some wish to believe, as they always have, that it's all about the product du-joir and the gobs of money they might one day make. It's possible I suppose, but I see no reason why it must be true. Especially when it is so much easier to make money the other way.
The old, "Why are they still here?" meet cute bit. Phony as a grade B movie.
They are still here because buying and selling shares makes money even if you don't buy and sell anything else. Duh.
FWIW....this is a very impressive looking patent that Mr. Robusto has his name on, along with three other individuals, filed in August '09. Very sophisticated and, for the most part, beyond my comprehension.
He is a very smart person, that is for certain:
http://www.freepatentsonline.com/20090216599.pdf
I'm sure some experts will show up here to make it all clear to us dummies. At least we'll have something to read about.
At the risk of putting too fine a point on what 'having a product ready for sale' means, I would say that products ought to be demonstrated to beyond what I've seen to date to prove they are able to fulfill their stated purposes. Granted, it's a matter of perception and, to my view, that has not been adequately shown.
Beyond that I am in agreement with you, and would simply add that a business plan is only as good as the skills possessed by the preparer of that business plan.
In other words, with respect to a business plan, garbage in garbage out.
And yes, what the hell IS the business plan about, anyhow?
"They apparently have products for sale and ready to go...fine."
An enormous and critical assumption based solely upon the flimsiest of indicators; the company's own statements and releases.
Insert a long paragraph about costs, supply chains, assembly facilities, scalability, markets, marketing, lines of credit, dates, deadlines, business plans, profit margins etc. It's all boring, yet essential to doing business of the kind they say they want to do. Common knowledge.
Even if they (or maybe even that Discovery Babe!) answered your questions tomorrow, what would give you any faith whatsoever that their answers had been arrived at under the capable due diligence and competent administration of seasoned corporate executives?
What about their current staffing would indicate they possess any such competence and capabilities? The only things this company has ever sold are shares. That is the only way, over all the years, any of the officers were ever able to get plenty of money out of this operation, no?
All ignored in one blithe statement about products ready for sale. Anyone reading it might think they actually do have products ready for sale, and that numbers they might issue would actually back it up! Not so, imo.
Yeah, I think it was called Hotzone also. They supposedly had boxes that contained both wi-max and DECT. That was how they were going to hook up Russia. One more thing that never happened.
I believed it, but I was uber-stupid.
To be clear, some entirely new, and as yet unknown to me, technology could, I suppose, supplant cell phone technology and/or be used in undeveloped areas like used to be discussed in days gone by.
Back then it did seam feasible that the WiFi and DECT tech's might have this potential, but they have never been proven real world as far as I know. Again, that is not cell phone tech and it is not a cell phone tower in the sky.
Besides, it all turned out to be beyond the reach of Sanswire anyway.
Schekin...and respectfully, I don't believe what you suggest is feasible since if you replace one cluster line of site, by default you are replacing all the clusters line of site, and adopting every cell phone and cell phone call onto the same cell tower.
If this were feasible to do, then long ago you would have seen the very tall towers go up on existing radio and tv antenna farms that serve every broadcasting market in the country. They would have been able to save billions building all those cell towers.
I'm just saying this concept does not work. Not that there would be no use for what is known around here as a stratelite. But there is no such thing as a stratelite that actually exists.
At least not in my world.
If you think about it, the whole concept of a stratellite cell phone tower in the sky is bogus if one remembers that the reason cell phones work is because the antennae are low to the ground.
Each tower intentionally serves only a small geographical area, or cell, with a given frequency set. The cells are conceptualized as hexagons and combine to form honeycombs across the landscape. In this way a maximum of seven cells can touch in a given cluster and so require seven sets of frequencies to interact as discrete units without interfering with each other. An eighth cell touching one of the six surrounding cells can theoretically use the same frequency set as the center cell in the original seven cell cluster since these two are far enough away from each other and low enough in altitude for the needed signal power roll off. In this way data can fly across the network while utilizing a very small number of frequencies. As your cell phone moves from cell to cell it passes itself along by hopping amongst the frequencies.
The cell phone system is defeated by high altitude cell antennae because now one frequency set can reach thousands of cells on the same frequency set, creating chaos. Any high altitude system really must be its own stand alone data feed on its own unique frequencies, to be sorted out and fed into other systems on the ground. It could never be a literal cell phone tower in the sky.
Fantastic and vital services that our military is providing. I remember seeing video last week of people tuning in their portable radios that they had powered off car batteries.
While it would be nice for Sanswire if some future product did this instead of the C-130, it doesn't seem likely. This is considering the monumental problems of the 500 lb weight (actually less weight than that given the slower speeds involved), the antenna weight, the transmitter weight, and the power weight, plus the weight of the remote control gear to operate the console, the various transceivers and switching equipment that the crew is operating. I guess you can leave out the crew weight, but the last quoted payload capacity I heard for one of the proposed Sanswire products was 22 pounds or something. So it doesn't really look like Sanswire is feasible for this purpose.
"Same situation here actually..."
Not quite. Your friend is making a profit.
"The company is not taking a dime out of employees' pockets with this debt to the IRS and need to correct their approach as it is invalid."
What about the dimes taken out of the pockets of other taxpayers when the revenue rates must be jacked up to compensate for the scoff laws?
But we need to correct our invalid approach to satisfy your interpretation of how the laws we live under may be ignored.
Strange world your living in.
How does owing payroll taxes put Sanswire in the same league with a company that has actually been paid money to actually do something under an actual contract?
I think that is an achievement that is well outside of the reach of Sanswire.
Since you asked (and I wish that you had not)
"...but whoever does, will be richly rewarded.Lives will be saved"
You are saying that over many, many thousands of corpses lying in the rubble of Haiti.
Why are you saying that? Because you know how to save lives or because you want to make money off those corpses? That is the question no longer lurking between the lines here.
What don't you get about that?
I'm done with this thread.
Hey and frank,
When you say "instant communications", I doubt that you mean that one of these imagined sanswire products simply floats aloft, fully outfitted with the proper electronics, as though the trembling earth itself set off some automatic deployment device and it was up in the air within seconds of the earthquake to provide instant communications.
No, I'm sure you understand that in this case communications were immediately knocked out and were to stay knocked out, until sufficient material and personnel could be transported to the site to correct problems. You are saying that the imagined sanswire product should be included among these prioritized assets.
What makes you think a precious few pounds of electronics slung off a balloon is going to fix it all anyway? Discovery channel?
Last time I looked at a cell tower, those antennae, not to mention cable and electronics, (located on the ground) and the power for them, all look quite heavy. So are you talking about some magic box here, that probably doesn't even exist, for what the Discovery Channel babe says is just a matter of dangling off of a gas bag? For goodness sake, why don't they just put a dozen of these magic boxes on a dozen aeorostats (you know, like in those photos of D-Day) send them up and fire them up????? The magic stuff is aboard the Global Hawk, and they were flying around over Haiti within hours, yet no cell service. Why?
Clearly, the key technology to address outages is the correct electronics equipment, power capabilities, and technicians to set it up right. These requirements, and the attendant logistical challenges of getting them all there exist with or without sanswire. The military established sophisticated communications in Haiti within hours such that everything they needed to expand their deployment (see my earlier links)was included. That is as instant as it gets. Again, if they needed technicians to strap electronics onto aerostats to meet a crisis need, they would have had them there, with bells on.
You have assumed that the needed electronics can't be deployed any other way. Secondly, given that it can be deployed another way your real issue is with how the relief effort has been prioritized. You apparently feel that cell phone service is more important than command and control, search and rescue, water, food, and security. That you would let the cell phone companies in to equip the imagined sanswire devices before the other more important things. Those in charge of the relief effort obviously disagree with you, and so do I.
Sanswire is utterly unnecessary in Haiti imo, but it appears that for some reason, some would have people in the US have emotional beliefs to the contrary. However, that is irrelevant to saving lives in Haiti.
Have you ever heard of an aerostat? One could probably suspend ten times the gear of one of the imagined sanswire products. Ship it, inflate it, strap on the gear, and one could have, and would have by now if it were a priority, deployed everything to satisfy your every tragic scenario.
But in a way you are probably right in promulgating the emotional angle, versus the logical one. Probably more productive, in a sense.
"Government would be wise to have this technology ready for the next disaster."
If government would have been wise to have it, given the years they've supposedly been so keenly interested and aware of its existence, at least according to Sanswirites, then government would surely have had it done by now. The thing is, government does not need it or want it.
It's like a little kid showing up with his little red wagon to help clear debris from the streets. The guys on the ground say "thanks for the help son, now get get this kid out of here, we have lives to save".
Some are confusing commercial communications like news services and internet with logistical communications like command and control. Again, any capability that an imagined sanswire product would have provided, was already available before the disaster (aerostats, global hawks, mobile infrastructure etc). Imagined sanwire products were not there because they were not wanted or needed. The Discovery bit gets the attention of people who don't understand this, and who might buy stock based on that misunderstanding, imo.
Just watched the latest, on-the-ground assessments by an Army General and news reporters in Haiti (watch Meet the Press online to see, also ABC) They list the same series of challenges facing them including search and rescue, material delivery, personnel deployment, commodity distribution, and security.
Not one word about communications or any deficiencies in communications. The communications problem was solved on day one. The issue is a concocted one brought up after the fact of it being solved.
Military bringing "tremendous command-and-control communications capability to Haiti,". With global hawks darting around, a floating plastic bag would just get in the way:
http://www.nextgov.com/nextgov/ng_20100114_9793.php?oref=topnews
President Barack Obama said on Thursday that aid to Haiti, in the wake of that country's devastating earthquake, is the top priority of every federal agency, with re-establishing telecommunications in the country as the first order of business.
The Defense Department is mounting a massive response, including the dispatch of the hospital ship Comfort to the Caribbean nation, along with three amphibious ships and 2,000 Marines from Camp Lejeune, N.C.
"Right now in Haiti, roads are impassible, the main port is damaged and communications are just beginning to come online, and aftershocks continue," Obama said. "None of this will seem quick enough, but it's important that everyone in Haiti understand that one of the largest relief efforts in our recent history is moving toward Haiti."
Air Force Gen. Douglas Fraser, head of the U.S. Southern Command, said at a Pentagon press briefing on Wednesday that the first priority in providing aid to Haiti was "getting command and control and communications there so that we can really get a better understanding of what's going on."
Some of the first personnel deployed to Haiti included communications specialists from the 1st Special Operations Communications Squadron based at Hulbert Field, Fla., according to the Air Force Special Operations Command.
Lt. Col. Michael Anderson, commander of that squadron, told Nextgov that a small communications system was on the first C-130 aircraft sent to Haiti on Wednesday, and it supplied connectivity within minutes of being unpacked. "This provided the commander and his small staff to communicate worldwide in order to begin support operations," he said.
The squadron also set up a satellite dish to provide more capabilities, including networked computers to support more than a dozen task force personnel, Anderson said. Additional systems are being installed to support a larger tasked force.
The Marines, deploying on the amphibious ships USS Bataan, Carter Hall and Fort McHenry, will bring "tremendous command-and-control communications capability to Haiti," said Capt. Clark Carpenter, spokesman for the Camp Lejeune-based 22nd Marine Expeditionary Unit.
This includes the sophisticated communications suite, which is aboard the , as well as the Marine's Joint Task Force Enabler, a satellite-equipped communications system that can handle both classified and unclassified communications, Carpenter said.
The Air Force 12th Reconnaissance Squadron at Beale Air Force Base launched an unmanned Global Hawk aerial vehicle to collect imagery of Haiti at the request of the Southern Command. The UAV, a high-altitude, long-endurance aircraft, is equipped with an integrated sensor suite and includes infrared sensors.
Lt. Col. Mark Lozier, operations officer with the squadron, said the imagery will show what regions of Haiti were hit hardest by the earthquake and will help the Air Force determine what airfields in Haiti were not damaged by the earthquake.
"One of the ideal aspects of the Global Hawk for this purpose is its high-altitude," Lozier said. "We can stay airborne 27 to 28 hours. We will be using most of that time to stay on station over in Haiti during most of the daylight hours to image everything that we can with the highest fidelity."
This is not the first time the Global Hawk has been used to assist in a humanitarian crisis. In 2007, the UAV's imagery was used to assist California firefighters battling blazes in Southern California.
The Comfort, whose home part is Baltimore, is slated to depart for Haiti this weekend and has a broadband satellite communications system and multiple computers to support, among other things, imaging and X-ray systems. The ship has 1,000 patient beds, as well as medical labs and X-ray machines.
The World Food Programme, a United Nations agency based in Rome, has set up a relief operation to feed 2 million earthquake victims and dispatched a two-person communications team on Wednesday to establish communications systems for humanitarian operations, according to Dane Novarlic, head of the program's fast information technology and telecommunications emergency and support team.
Dane said he brought two fly-away communications kits to Haiti, which include laptop computers, satellite phones and VHF radios, to set up two WFP offices. The program's communications team in Sudan is on standby to fly in satellite communication systems.
Anderson emphasized the importance of communications to the Haiti operation. "If you can't communicate, you are just camping," he said. "Operations such as this are too important not to have the command, control and communications ability vital to success."
"classless publicity"...bingo.
....that you know nothing or that you know something?
The last thing survivors need right now is the ability to check facebook and twitter. Sure it would be nice to e-mail relatives, but their first priority right now is getting a drink of water, among other things. Even if they all could log on right now (on battery power)they would immediately jamb any temporary network, and that's assuming these poverty stricken people even purchased the technology before the quake. Sure maybe some. The point is, it is not a critical need for the victims today.
That leaves the responders' critical need for communications. There are a number of ways. Repeaters on nearby mountains powered by generators to service hand held devices throughout the region; a basic military capability. Aerostats can function as well as anything Sanswire has to offer for hanging electronics off of. Nobody would be trying to shoot them down, after all.
While the need for communications is real, the need for Sanswire to provide them is not. Could be why you don't see other, more respected companies jumping up and down and making a lot of noise. The ones who can help are probably quietly helping and worrying about the pr later.
Not at all. Think nothing of it.
I was just agreeing with you. Why the inquisition?
Exactly. If you are dumb enough to have invested in this company, you deserve to get screwed. That is essentially the bottom line.
An impressive business background, to say the least.
Not to mention covering the US border.
Even if it were to get above "parade height" which it is true that we have zero evidence it can; today the jet stream is in excess of 70 knots across almost the entire middle east with the notable exception of Yemen:
http://www.pbs.org/wgbh/nova/balloon/science/jetstreamimage.html
So if it were to be used in Afghanistan today, then have fun "dodging" the jet stream. It is more than several hundred miles wide.
But enough of the tech talk, it just distracts from the fundamental weakness of the company itself.
If one is serious about having people attend an event, one establishes the date of the event BEFORE issuing the public invitations to it. No, this was for the sake of another pr because the share price is still flat after the first one. Can't do a dump if you don't have the pump, imo.