A buyout now? geesh. Who in their right mind is going to buy out a company with no filings for years and was in debt up to their eyeballs?
I suspect Jay eyeballed the potential for selling shares with the idea those patents are worth something - even though they didn't help the company end up in bankruptcy court before! TCPS is EXACTLY the type of shell the SEC is cracking down on with Operation Shell Expel. Maybe they will make it to the next round of suspensions. I heard a rumor to that effect!
TCPS TechnoConcepts, Inc. doing business as Terocelo Inc., together with its subsidiaries, engages in the design, development, manufacture, and marketing of wireless communications semiconductors in the United States. It manufactures wireless transmitter and receiver microchips based on its proprietary technology, True Software Radio. The True Software Radio enables communications devices, such as cell phones, PDAs, laptops, and other mobile devices to communicate with other communications devices across various wireless standards, such as CDMA, TDMA, GSM, GPRS, G3, Bluetooth, WiFi, WiMAX, and WiBro. The company also designs and sells products for Internet television, stream media protocol proces
From 2001 to 2006, Mr. Pignatello managed Global Phoneworks, LLC, a mobile virtual network operator in McLean, Virginia, growing revenues by over 200% over a 5 year period and increasing network capacities to reduce fixed costs, increasing gross profit by over 40%.
Mr. Pignatello is also a partner in DIBARA, Inc., a full service MVNO offering its corporate clients customized telecommunications services