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Nice job Titan. Try pumping it and then dump the position. underlying value? You must smoke crack.
Great interaction Dr. & King.
On the positive - we now have 12/31/06 and 7/31/07. 06 was a pretty good year. Back out the unrealized loss - and we have a good operating company.
Now we look at July - and the company has totally fallen apart. Went from a $1B revenue company @ 12/06 to chump change. Fighting over very old VATs - with no other significant recurring revenues.
NJ2 guys buried this company. They had no downside risk and lots of upside, and drove the company into the ground. Even if they do get the VAT - I see this as a 1 time event that will allow the company to limp along for another quarter before being out of cash again.
Let's hope that the significant reduction in common shares outstanding will result in a higher price and perhaps attract some attention from a potential suitor? Ya, I know. Dream on.
let's all hold our breath on the filing of the annual officer's list!
how did you find that out?
what options do we have as shareholders here? Our last financial statement was 9/30/06 - nearly 9 months ago. There has to be a way of determining their financial performance. Any suggestions?
some of us have used that strategy for the past 2 years. If you're buying in for the 1st time - your downside is only .03. Some of us have been around here since before they went Bankrupt the 1st time. We're praying for a miracle - cause the company hasn't shown us 1 darned fact in the past 9 months. This management team is unbelievable. They haven't even been employed by TCLL for 12 months - and they've taken the market price down to nearly $0 while the company is generating huge revenues (or at least was). Even at $.03, their sweatheart stock program when N2J was purchased gives them significant personal income. Their basis is $0.00.
I have called the company 5 times, I have emailed them more times than I care to count, and I have even spoken with Baron's LLP (not to be confused with Barron's the newspaper), and still I have no information to share. Wish I lived in the UK - I'd go sit in their friggin lobby until the CEO or CFO spoke with me.
I'm amazed to be honest. Of course, it's a different type of investor at this price. How can a company operate - big or small - without current financial data? They have to be pushing $850M in Gross Sales for 2006, which should generate positive cash flow - and yet the last financial statement for us to look at is 8 months old. I don't care if they dropped out so they don't have to deal with SarbOx - but I still have to have something to sink my teeth into as an investor.
if the reader's don't know the difference, then they shouldn't be involved with this company. www.barronpartners.com
Independent ? Some how I doubt it. I have no idea how to contact the directors - but I would love some help trying to get communication from the company.
bottom line is that we don't have a friggin clue. And neither does a much larger investor. This management team better communicate quick or we'll be $0.0000. Who would buy this stock at this point (present company excluded!)?
Mr. Worden's (CEO of Barron's) reply to my note:
We are down $5,000,000 on the investment of the $5,400,000 or so we invested in cash. Oh well. I feel your pain, trust me!
Can’t give you much, as I don’t know anything, sorry.
I have emailed Barron's to see if they have any insights. Doesn't look hopeful - no reference to TCLL in their investment section over the last 3 years at all. They only share their successes . . .
I would like to recommend a calling blitz to Neil Purcell, CFO and James Reed, CEO. Phone is 011 44 126-029-1880. Sooner or later, we might get lucky and speak with one of them. I have made 5 phone calls since they went silent. I have not succeeded yet in speaking with anyone in management or receiving a returned call. If we can get a large group of investors calling, perhaps we'll get our point across. They do not have voicemail.
I believe that the UK is 6 hours ahead of Eastern S.T., so call early.
Barry - won't let me do a private reply. I asked her if they were going to report today? Were they working hard to get back into compliance? Could she tell me anything about the VAT refund? And how were business volumes of late? She deferred to Neil in all cases. As I said - nice Lady but stilled in deflecting the questions to those who never respond.
Does this rollercoaster ever have a steep hill to climb, or does it just keep going downhill?
You may be right Dr. - but that's a heck of a way to treat shareholders that have been in the company for a long time. If they don't wish to report - then buy us out and go private. Barron's certainly have the wherewithal to do so - and maybe that's the plan - after the shares get down to $.01
Receptionist. Very pleasant - but of no help
Attempted to call again. "Mr. Purcell has left for the day". That would be 4:45 PM London Time. Concerning that someone who is more than a month post deadline to file his 10-k. Apparently, he isn't burning the midnight oil to get it filed.
We need HELP - fast.
141 days and they still can't publish a 10-K. I'm losing hope that this is because of their volume increases and the VAT Refunds.
very frustrating. We're all sitting on pins and needles praying that they file the 10-k by tomorrow. No PR, nothing on their web site, clear management negligence.
Isn't today a critical day for filing of the 10-k?
I've been a shareholder, and still am a shareholder, since early 2004
I'm hanging on too Wdg - probably a waste of $. But at this price, selling won't net much anyway.
I have just filed a complaint with the SEC, some of the details as follows:
1. The company has not complied with the required filing of financial statements multiple times in the past 2 years.
2. The company does NOT communicate with shareholders at all. I have called, emailed and written via regular mail - without a single reply. I own 72000 shares - a very small % of the company, but a major investment for me.
3. The company has acquired several businesses without communicating the effect of those purchases.
4. They continually show a complete lack of attention and respect for their shareholders.
5. It appears that 2 of their recently purchased subsidiaries has recently entered UK bankruptcy proceedings without any communication to shareholders.
What can we do as shareholders to get INFORMATION from them? We have called, emailed, regular-mail... and have received nothing in return. The shares are sliding through the floor, and we have no idea why. Time to raise the stakes. If the new management team doesn't want to communicate, then we should force the issue.
Without faith all we have is a penny stock that has lost us a lot of money!
Waite - 2 Michiganers stuck with this dog. Oh well - let's hope there's an upside. I grew up in Marshall. Live in SE MI now. Lived in GR for a while. Loved it there.
Delivered this AM via email:
Mr. Pursell -
The late filing is killing your investors. We simply can't continue to allow the company to produce late financial results and not communicate with the shareholders. I know that you understand this - but I feel compelled to put an exclamation point on the topic because of the poor performance by the company. As a long-term shareholder dating back more than 5 years, I've been loyal to the company. It's time for the company to be loyal to your shareholders.
The constant lack of communication is maddening and unacceptable. Please COMMUNICATE.
Neal Searle
Michigan, USA
This is making me very nervous. Droppign a web site, no communications (that's not new), strange that a respresentative of the company would refer you to Baron's for a web site issue. Things were looking improved. Now... Hope the VAT rebate is for real. We need some good news for a change.
does anyone know what has happened to the upgraded web site for TCLL? Doing some research - hoping for an earnings announcement - and the site shows as "under construction". Any insights?
disclaimer noted and accepted. No need to add any more.
Merger? Love that idea. Gives us a profit and an exit strategy!
$.12 2008 earnings x 15 = $1.8. Granted, Pennies don't trade at traditional P/Es - but there's still upside in the financials based upon their expanding markets and acquisition(s). This one actually makes a profit! Many of us have been hanging around this stock for a very long time waiting for them to prove their capabilities. It needs to be a strong last quarter or I'm taking my lumps and bailing out. Fortunately, my average price / sh. is pretty low.
Those of us who have been with this stock for a long time are used to hunkering down! The problem is - how long can we stand the cold and will it ever warm up the way we want or expect it to?
There's a lot of very positive opportunities for this company. Current management is unproven - good experience elsewhere - but not here. Baron's could be a big plus - or they could have their tail covered (how?) and leave the average shareholder holding the bag.
I believe all of the above is why the shares are trading down. No good news and too many questions. Hopefully the new team can generate the 10K faster than in the past and help us out.
I agree ABH. I think he was part of the selling that occurred in December as well. He had a very large block of shares. Why he doesn't hang on for a much larger possible payout is a good question. Since I would guess that he didn't leave on good terms with the new management team, he probably is offering them a big FU
did we have a close at .19? I don't think so.
SWEET. I'll be buying more then!
we can only hope that they sell and move on!
The $1 Bet gets closer every day. Good thing I'm a banker. I'm gonna pay off the bet in pennies!!!!
Looks like I'm close to losing that $1 Schmoltzy. Oh well. I'm still hangin in there trying to figure out how to make money on this darned stock. I'm not giving up all hope - YET.
Thanks New Poster's. Glad to see there are more than 7 of us that regularly communicate on this stock. Stay with us and provide your insights into this stock. It's all we have!