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And how again does your scenario benefit JB and the "whale" investors? Just curious.
VC. I think you're right. I actually believe in LT who clearly bleeds for the company and even the shareholders. Hope he gets a chance to recruit funding.
I, for one, appreciate even Blog information. It at least suggests a pulse at CTDT. Looking to keep hope alive.
Chemist,
A university connection did exist via A. Ackeroyd, a specialty advisor to Centaurus connected with Oxford University. He was tasked with developing instrumentation to be utilized with Magnatek. My understanding is that his results were mixed and his work incomplete. I suspect they simply ran out of cash.
Prentice's picture remains, however. This facilitates access when shareholders wish to vent by defacing his photo. Q is pretty skilled in that area!
Chemist,
Prentice will not reappear apparently. He has been removed from the website management tab. That's probably the best news I could have imagined for CTDT, at this point. It suggest to me that they are seriously considering a new direction and that Snaper has finally tuned in.
Dave,
I think you're right about Snaper. He is not a scam artist. Unfortunately, he is not much of a CEO and entrusted someone with ulterior motives to manage his company. Now we're all caught in the vortex because of this. I do think he is embarrassed. I hope he is able to set things right. Remember, he is majority shareholder and stands to lose the most by inaction. There is still some hope, I guess.
My advice... you may want to lighten your position somewhat. Also keep calling both Snaper and LT which is what I have been doing. Snaper's unjustified devotion to Prentice finally spooked me enough to bail. When I get a sense that Prentice has been replaced, my outlook will, without question, improve.
Filing costs are nominal for a company like this ($150). The audit could cost more although they don't have much to audit, I would think.
http://www.sec.gov/divisions/investment/pfrd.shtml
MBAMann,
That's an excellent review of what we all have endured. It really should not have been difficult to advance the company given the technology, patents, and initial funding. Think about it. Make 1 Magnatek diamond and then sell it. CTDT is then in production mode and would without question become a magnet for additional financing, partnership, or even a buy-out.
So what went wrong? Well....here I go again. It's all about Wayne Prentice. I have no question that his sole purpose was to limit any and all company advancement. He looked to ensure no meaningful diamond production on his watch. As it turns out, Al Snaper trusted this guy blindly which was clearly ill advised. My understanding is that he is Centaurus' COO in name only. He would not sign a contract and "performed" his duties without pay. Who in their right mind would accept a role like that, in a company that makes diamonds, no less? He has long established ties to GIA (and thus DeBeers) which constitute probably the single most threatened entity when discussing manufactured diamonds. Remember, that GIA was fooled by a Magnatek diamond before, certifying it as natural. Call me a conspiracy theorist but the dots all line up well, IMO.
Anyway, that's my take and that's why I've pulled out for now. If Snaper could extract himself from the lab and start behaving like a CEO, I would likely re-invest. The technology is there. Just No one presently to advance it.
steeleye,
Your first detractor point is the most poignant but still incomplete. Irons' haircut virtually guarantees that P2O fuel is out of spec. I'll divest Monday, first thing! Where would we be without these guys and their gifted insight.
Novel approach to hedging. Good way to limit the damage from your shorts!
Sure looks that way. Always good to see the bid and ask staying tight and rising together.
Got to be honest Q. I jumped ship today. Doesn't seem to be going anywhere for a while. I thought this had a good chance but Prentice clearly worked against us and the company, IMO. Snaper is nice enough but not a true CEO. He can not or will not take this company forward. I'll lick my wounds and move on. GLTA.
Thanks for your time-relevant posting for JBII. Unfortunately, this is of limited use to most of us. FWIW, I would not make investment decisions on any company based upon 3 year old PR's. Not sure why you feel this is truly important. More recent developments such as with P#3 production and new management should offer you better insight for investment purposes.
Irons is OK at his job. He is not the reason JBI is where it is right now. There are much more significant challenges facing this company going forward. We can agree on that.
On the job performance and professionalism trumps haircuts for me. You're welcome to focus on whatever drives your bus, though.
Well... they're out of cash which should force disposition soon. I hoping Snaper will realize the cost to all (himself most of all) of inaction which almost certainly will land us on the Greys. With any luck, he'll attempt to sell the company. We'll see.
Well said. Funny thing is as bad things seem now, it could all change dramatically with the right PR. I guess that's what keeps me here for now.
Hope you're right. That info did come from bradlee who seems pretty genuine, albeit perpetually CTDT positive. I don't see why he would misrepresent things to us. Prentice however, is a different story although that's again my opinion.
Q,
I actually don't expect SEC sanction but do feel unnecessarily exposed by WP, not LT. The blog is a non issue, IMO. What's more concerning is when the company COO discloses material information to only a select few. He subsequently allows info to disemminate without clarification and then fails to deliver, without official disclosure. That's where I'm concerned. The blog is small potatoes, provided by a self-disclosed non-employee.
GLTU. Should be fun to watch.
Most of those here are decent and genuine. There are a few others who are not...chee chee chee!
I'm starting to think HR may have misrepresented himself to the group. Seems he's a little off with his "PI"-generated projections and dates. What do you think, Q?
Hard to know for sure. The company may have felt that this 3 million would actually suffice to bridge operations through to CFP. Less debt and potential dilution, as well. I'm OK with that for now.
I would second that! Heddle is dealing his cash from a position of strength.
Damn funny, Q! Post of the day.
On a positive note, support at .02 seemed pretty tight given a sell balance of nearly 500k. It's the floor for now.
A thousand more of those guys might move the SP more meaningfully.
410,000
Centaurus is out of cash and something will happen this week; either financing or a buyout. Snaper didn't establish this company for it to fizzle without a whimper. Staying positive. This will be our week.
If there's catalyst enough to boost SP 5000%, all of us longs could be selling without much overall impact, IMO.
Sort of like yesterday. Morning spurt which then fizzled. I was hoping with the alert that Jay referred to, we'd see more interest. As for the board, nothing new of substance to discuss, I guess. Waiting game.
I think you're spot on. I think LT expects to save the company and may very well succeed. Between the "fork in the road" blog hit and MBAMann's e-mail, he seems intent on moving forward with or without Prentice. I prefer without unless he actually brings something to the table.
Started well then peetered out. I guess we need to hear more about that ole "fork in the road".
I hope you mean a "good news" alert. I actually expect good news with regards to financing. FWIW, I previously sent a letter to Mr. Snaper which I shared with the board. It focused on the performance of WP and the lack of communication. Never threatened litigation and I have always appreciated LT's efforts on our behalf.
Not great news. I hadn't heard that. Dang!
Q,
I doubt we'll be 10 cents tomorrow but things are different here at the "fork in the road". LT is uncharacteristically quiet and unavailable. That's never been my experience with him. Bradlee, who may be the only poster to have interfaced with Prentice, is also pretty quiet. Maybe he can't talk now....I know, speculation. 2,000,000 bid support out of thin air, at a time when the SP should be imploding. Seems like clues abound. Call me delusional but I remain hopeful.
You and me both. I don't think we'll have to wait long. That "fork in the road" thing (from the blog) should reveal itself by the end of the month.