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It was interesting that the ballet in favor of the board of directors was at 90% while all the other categories were over 95% in favor. What happened to Jim's shares? Are they in his estate or have they gone to another family member or an outsider.
It might have been Dr Roesch.. He is usually there with a contingent of his investors and he is well liked by management. It seems like Dread may have posted live from the meeting several years ago as well.
It reminds me of two posters from several years ago- Some of you will remember Sheriff and DYNA. They had the same negative attitude on this board. I think they may have been banned. Funny how when some unhappy negative posters leave, others tend to fill their shoes.
I recall that at the time Jim was offered $5 a share he polled the shareholders and many felt the share price should be over $100/ share. Jim was excited about the technology and was good at selling that to us shareholders. Many of us still hold that confidence and are excited with the direction the company headed. It looks like the right players are being put into place and good things are happening at HQ. I cant't wait for the January meeting!
I understand they won again today. Wish I had been able to make the race. Did you see a Torvec corporate contingent there with the torvec team? If so, how excited were they with this win?
Nice website. I'm glad it is finally up. It seems like Torvec is moving nicely towards a commercializing event. China is a huge market. I'm sure Jim was involved in getting that deal started. Congratulations Torvec! Nice Job!
Senator Gillibrand Was on a news clip tonight with Keith at the Mr Read facility. They showed them touring TORVEC but the comments were not related to TORVEC. I suspect an anouncement this weekend to correspond with Jim's birthday and retirment. What will the good news be???
I'm sure Jim would have liked to buy more shares at the time that he anticipated a watershead event. He was unable to at the time because of SEC regulations. For all we know those regulations may still be in place for those who are considered insiders. Even if the regulations were not in place Jim and Keith are significantly invested in TORVEC. They have already demonstrated their commitment to this company more than anyone here on this board. I dont need to see them invest more to build my confidence in their commitment.
The question was asked at the annual meeting to Dr. Destler whether the RIT endowment would be investing in TORVEC shares if allowed. There might be a SEC reason that Dr Destler as a new board member was allowed to purchase shares personally. He seemed at the meeting as enthusiastic as the Gleasmans.
I agree- as an example I encouraged a relative to purchase TOVC shares through ETRADE several years ago. He asked me to look at his statement recently and all his shares had been sold by ETRADE to pay the account inactivity fees. He is elderly and does not trade online. Guess he should have purchased from Dr Roesch....
The meeting was not eventful but enough information was given that most of those who were there left encouraged that the company is still headed in the right direction.
Dr. Destler is a shareholder and feels his investment is sound. He fielded a question as to whether the RIT endowment might invest in TOVC.
There was significant discussion regarding the Corvette and an open class win with the Corvette. Many of the engineers who left GM (that were familiar with TORVEC) went to other auto makers so the hope is that they will want to incorporate TORVEC technologies with their new companies.
The current value of the stock should be much more than fiftycents IMO. I'm not sure anything came from the meeting that will drive the share price up in the immediate future. Possibly in the next six months we will see the move everyone here is waiting for.
THe cookies were the same as every year with the almond macaroons being the most popular. Jim and Keith were watching the cookie table to make sure that no more than 3 were allowed per shareholder.
The meeting was not well attended but the information was upbeat and positive. The company moves closer to a commercialization events probable in 2010. Discussion with several major auto companies is underway. These things take time and eventually our patience will be rewarded.
In the Q & A some Yahoo asked many off topic questions comparing the FTV to a snow track vehicle and the limited marketability and potential market for the FTV. Other than the one ignornant shareholder the questions and responses were very civil. We even heard questions from Dr Roesch.
The good news is that Jim quit smoking in December. He seemed much healthier and vigorous. With better health, he will be able to be around when this ship finally comes to port.
Converted qualified torvec shares today to Roth. Now when the share price hits $100 I'll be set.
Isn't $100 the share price we all agree was the value of the company 2 years ago at the meeting?
I enjoyed the CEO update. As I suspected the company has had non-disclosure requirements and is unable to specify the deals at hand. The tone is as optimistic as possible without spilling the beans on what lies ahead. I'm glad I have held on through the rough times. Now will we see $100/share before Feb 1?
Joe Gibbs Racing- Kyle Busch- Wouldnt it be nice if Gleasons used TORVEC technology?
Message from David Holden of Joe Gibb’s Racing:
Dear Gleason Works Rochester,
Kyle Busch and the #18 Team added to their series-leading win total with their 5th win of the season the Road Course at Infineon Raceway, in Sonoma, CA.
Kyle and the team led the most laps, had great pits stops, and had great components on the race cars thanks to your help.
True Renaissance Men – they’ve won at a short track, on a super speedway, a road course, on a high-banked concrete track, and a 1.5 mile track. And the season’s only half over!
Thank you again for your continued support of JGR and your efforts to give us your best, week in and week out.
You guys deserve extra credit because you pulled the transmission gear re-design for the #11 out at the last minute. And although the results page on Monday morning doesn’t show it, Denny felt that the improvements there were huge, and was grateful for the help.
Very Sincerely,
David
David Holden
Research and Development Engineer
I would have expected UPS earnings to rise based on the higher fuel costs as more people are buying on the internet and having stuff shipped.
We should be able to get others to post more positive information so we can all feel better about our investment. Perhaps Dr Resch could drop a note from time to time. He (with his investors) has more at stake than most of us. If he is able to make his investors feel confortable with this investment, then he should be able to quiet some of the concerns aired on this board. Artguy in the past also has been a poster that has brought more to this board that was on topic and optimistic.
I have trust and confidence in the Gleasmans. My guess is that the silence we get from them is regulatory in nature. They would tell us more if it were legally possible. They are also more motivated for success than any of us.
Regarding your questions: 1) Torvec is not liquid- if you are in you can not really get out without taking a big hit.
2) Patience will bring us closer to the $30+ share level.
Not sure this is the same deal that Lockheed is competing for. I dont think that contract has been awarded.
After attending the meeting last week and speaking directly with some of the directors I still feel confidence in this company. Also spoke directly with Dr Roesch who has put many of his financial planning customers (like over $5,000,000)into this investment. His confidence level was also encouraging. One has to ignore the stock price and simply wait for the big event......
Dread, Thanks for moderating this board. I have enjoyed reading and sometimes posting here. I will miss the information on our investment. Hope we will see you at the annual meeting....
Interesting that in the Rochester Business Journal yesterday the Gleasmans were in the top 25 list for their holdings of TOVC shares.
If precious metals continue the rally should'nt YUKON GOLD follow. I'm disappointed the results have not been more positive.
Why do the Nissans seem to always have engine problems. Are they revving faster with the iso torque causing more stress on the engine?
PR Newswire WallSt.net Updates Investment Community Through All-New Interview With Torvec
James Y. Gleasman, CEO of Torvec, Inc. (OTC Bulletin Board: TOVC) (www.torvec.com) updated the investment community in an all-new interview with www.wallst.net. Topics covered in the interview include an overview of the company and its growth strategy, recent press releases, market opportunity, a .....
To hear the interview in its entirety, visit http://www.wallst.net and click on 'Interviews.' The interview can be accessed either by locating the company's ticker symbol under the appropriate exchange at the top of the 'Interviews' section of the site or by entering the company's ticker symbol in the Search Archive window.
About Torvec, Inc.:
Torvec Inc., based in Rochester, New York, develops advanced automotive technologies that increase transportation safety, mobility, fuel efficiency and reduce soot emissions. Torvec owns the technologies for an Infinitely Variable Transmission that reduces diesel soot emissions, a Fast Tracked Vehicle (FTV(TM)) that goes where no 4x4 can, novel designs of hydraulic pumps and constant velocity joints. Torvec's founders invented the famous Torsen(R) differential used in high-performance vehicles.
To learn more about Torvec's many technologies and view a video of its FTV(TM), visit http://www.torvec.com.
About WallSt.net:
www.wallst.net is owned and operated by WallStreet Direct, Inc., a wholly owned subsidiary of Financial Media Group, Inc. The Web site is a leading provider of timely business news, executive interviews, multimedia content and research tools. Financial Media Group, Inc. also owns http://www.mywallst.net, a financial social network for investors, and Financial Filings Corp., a provider of compliance solutions to publicly traded companies. Additionally, WallStreet Direct, Inc. owns and operates WallStRadio, a business and finance podcast Web site. Financial Filings Corp. is expecting to receive two hundred eighty dollars from Torvec, Inc. for the dissemination of this press release. For a complete list of our advertisers, and advertising relationships, visit http://www.wallst.net/disclaimer/disclaimer.asp.
A small consistent gain every day would be nice. I dont think today's volume is particularily large. Back in 2004 the volume was over 600,000 shares when the trading got really hot. I think when we reach that level of interest in the company the shortage of shares will quickly push the price to levels we have been anticipating.
Like JG said, the day to day share price does not mean much. It would however improve the attitude of shareholders to visualize the acquired and true value of the stock and a payoff for their many years of patience. (even if only on paper)
Does this CONTRACT constitute an actual trigger event where the board members get their bonus shares of stock? The anouncement of a contract by Lockheed is the best news so far IMO. I still can't figure out why the press is not picking up on such a noteworthy event. The stock at today's levels has enormous upside runup about to happen. It amazes me that the price and trading volume has remained so low.
How efficient is the IVT on a bike? It will be nice not to need to shift all the time.....
I'd buy more if I werent already "ALL IN". This might be the position of many IHUB posters here. There isnt much new money to move the market where it should be. Of course it would go up if we all would hold on a little tighter to the shares we hold.
I would think with the move to the new location there would be a particular new interest and curiosity about the company from bystanders wondering what this company is all about.
With the good news from the CEO update, I would have expected a modest spike in share price. Seems like nobody is watching.
Interesting also that as the day went by more shares were given away for $3.70 A high volume compared to recent days. Who would release their shares so cheaply if they really understand the potential?
Notice of inability to file timely - Consistent with past 10Qs
The sale does not necessarily mean a negative for TOVC. For one thing, it would be illegal for him to sell on imminent insider bad or good news. My guess is that he is repositioning his shares to family members as an estate planning tool. If the stock quickly moves from $3.50 to $100 per share then a transfer of wealth from one generation to the next happens rather quickly.
In a few months we might all look back and wish we had transferred some shares when we get our tax bill.....
I hope you are right- It would make sense for Cerberus to be the player, but I agree with Dread. The whispers from this type of plan moving forward would have surely moved the stock.
It is hard for me to believe that the stock is as stagnent as it has been after all the great new revelations from TOVC.
Looks like TOVC missed the quarterly report date. We should get some report soon. I expect the next report to reveal the progress we have been expecting since the annual meeting.
There is not enough public awareness yet to support the price consistently above $5. At $3.65 you should be adding to your position as much of your high risk money as you can afford. Then sit back and wait for the golden goose to lay her golden eggs.IMHO
Interesting trend- The demand for oil will probably follow the same lines as well which should push the need for better inventions for fuel efficiency. I'd like to see a graph of oil demand overlaying the car ownership graph. China & India already have a better average fuel efficiency and their need for Torvec technologies is even greater than the needs of the USA as they will continue to need even more efficiency.
Interesting that the project was started in 1999 and not made public until 2001.
Have you heard anything new about a possible deal with Oshkosh?
The deer are actually white deer and not albinos. Their location will be ideal to retrofit bus transmissions along with the new Ethanol plant.
Didnt Horton have somthing to do with REDCOM? That is why there are so many investors in that small Victor/Canandaigua coridor. I think he has been a huge cheerleader for torvec for many years. Horton was the one who spoke up at the meeting.
Why doesnt someone just ask Jim? If he can't comment because of SEC rules that would be good news for all of us and he will simly state "I can't comment on that" . If he can comment, then we will all be enlightened.
I agree with DREAD- The US manufacturers need to somehow change the Paradigm you describe - "A working prototype is a start, but only that. Ford and GM for instance would need to work on such a prototype for years even before it was considered ‘concept ready’ by them." In the 70's and more recently they were unable to get on board quickly with the smaller fuel efficient vehicles. The Japanese companies did a great job quickly implementing with quality products.
I can see the need to product testing and proving. No company wants to make a mistake and rush out a product before it has been proven like Pontiac did with it's air ride suspension. The proving timeline needs to be shortened. I think possibly TORVEC has been a little slow because it takes lots of cash to do the required testing. Jim mentioned that they are considering purchasing a Dynamometer to test the fuel efficiency in the bus project. It seems like an important tool like that should have been already there.
Do you think that the extended implementation timline you are projecting devalues the technology? Many have waited a long time for their investment in TORVEC to reach it's potential. Is there a threat that the long timeline will allow competitors to develop and implement different technologies that might be as good or better than those of TORVEC?
The tone at the annual meeting seemed to indicate to me that the time is close for a deal to be struck. I think OSK or SAIC both could implement the technologies quicker than FORD GM or even Toyota.
It has been a month since the annual meeting. I expected to hear some kind of progress update or stock surge by now. It surprises me that there has been a full month of extra buying opportunity. Lucky for those who have been able to increase their position.
Do you think JG will go back to posting more regular updates to the website? Possibly one of the reasons he stopped doing it was the time constraints he is under. He looked tired and worn out at the meeting. The leadership must be under extraordinary pressure. Bet we hear somthing soon.....
Impressive technology... I can see why Deere has such a strong following. Their stock recently hit an all time high and I've heard that they can not keep up with demand for combines and planters.