Got any coal in your stocking? If so, you can beat yourself with your Santa gift until it becomes a fine powder. Then dump it in your toilet and add some benzene (just a dash), voila...slurry. Light it on fire, and then you'll see what all the excitement is about at SCEI.
Dongguan is cold now (I guess that's a misnomer, as the factory there has been cold for a while). But the whole town is bustling with ma and pa slurry shops. Everyone loves slurry, but we're a little unclear about whether SCEI solve its competitive issue, where they were losing business to folks producing it in their garage.
Also, did y'all buy a coal mine? Sheesh, I can just imagine what could happen here...New board takes over SCEI, and the next day there is an accident in a coal mine. What would happen if the new board managed to penetrate (difficult for impotent folks) the Hong Kong shell corp, and as a result, got sued by the family of an injured employee? I wonder if Jim Sutter would like to manage a claim like that now that the US Corp's insurance policy got revoked.
Anyway, Baby Its Cold Outside
Any new board members yet? Summary judgment? Any illegal insider sales for tax loss? Did Ren pick up an STD on his latest trip to Thailand? If not, will he have another opportunity when you all go meet in Vegas to elect a new board, and he out-votes the group?
Just checking in to wish everyone a happy holiday.
So, after a few illegal insider sales, now we are too scared to form a new board (as a new board would eventually have to respond to lawsuits, complaints etc). I suppose Jim Sutter doesn't want to be the recipient of court service process, and neither does anyone else in the group.
You should have spent your $2K sending someone over to China (or Thailand) to go get a buddy massage with Ren to loosen him up and see what's really going on over there.
Because they like to limbo.
The actual biggest red flag for me is that Najeeb bought so many shares above $7. It means that he really believed the company was about to explode and the shares would trade above all of his buy prices for a long time.
The fact that he believed the company was in great shape when, in fact, it was losing money shows that he is emotional, and as a result, isn't seeing the cold reality of the world. He is a believer, which is ok, unless your faith blinds you to the realities of what needs to be done.
So, the CEO sits in a room with all the execs, and they blow a bunch of smoke up his #$%$ about how great everything is. The sales pipeline is strong. Marketing is getting the word out and is driving features in the software that will sell. Operations/Engineering is on time. What could be better, right? Then, 6 weeks before the end of the earnings period, a lowly manager says, "Not gonna happen, boys." The CEO calls everyone into his office and says, #$%$?" He stops buying shares. Word leaks out from engineers and salespeople that sales are stagnant and the stock comes under pressure. Then, a huge miss is reported on earnings day.
CEO is in firefighting mode now. The meetings are no longer pleasant. No one is blowing smoke. Delays in engineering demand new people/hiring, but the new hires aren't as good because the best people have better things to do than work for a company that misses its numbers. The 2nd rate engineers being hired now don't recognize a deadline as anything other than a reason to get yelled at for not being done. Marketing is specifying features for 2 releases ahead, but now because they are behind schedule, some of the features for the next release are going to be mixed with features 2 releases out.
Great tech companies have strong CEOs that see the world as it is, and build a runway to how the world will be. Not seeing that in NTWK...and that's why they will limbo.
What assets? The agreement with the Hong Kong company? The Hong Kong agreement with Sino? The canceled insurance policy? You have to distribute the assets over the liabilities as custodian. Let's say to take over SCEI, and find an asset. You'll need to distribute it to people filing the lawsuit, except now, they'll be filing it against you, the custodian. Sounds like fun!
We are actually getting somewhere now.
Seems like a "be careful what you ask for" situation. If you are successful and become custodian, then when the shareholders continue to sue, you have to answer the lawsuits, etc.
Bought in $5s, $6s. Sold all at $13.02. One of my best trades ever. But...
It seems like petty ads for 75 new job openings are meant to drive stock value instead of growth. Why would the CEO mention hiring in the earnings report? Frankly, it is bizarre to mention anything except, maybe, an answer to a question to say, "yes, we'll staff up."
Spidey-sense is tingling.
I don't think so. I think the insiders are feeling pressure from their group to disclose so that those who sell won't be accused of insider trading. People may want out...
Time will tell.
So, now that some of the content of the letter has been published, 2 weeks after it originally went out, do the insiders feel that this disclosure allows them to sell/bail out?
Remember when they use to manipulate it to $0.20? I bet there are 100K shares asked at $0.20 now. It used to be worth the manipulation, but manipulation is more expansive now.
That's fantastic. I wonder if their lawyer will quote you in court.
No one is bashing you. Several seem to be pointing out the futility of your approach.
Did ny illegal insiders give up and sell today? Jim, when will/did you sell out?
Solution? My solution was to be out of the stock before it was halted.
The solution to the issues today is: NULL. There is actually no place to start. AV suggests maybe going after the US firms, but that would require actual work for which no one seems to have the stomach.
This means the solution is to stop spending time and money on a dead end. Stop throwing good money after bad.
There is a fascination around the shareholders headed to the Chinese circus in Las Vegas, but its actually nothing more than a moribund curiosity. I'm interested to see how far people will actually take this even as the last vestiges of hope fade to nothing.
They can force a meeting of the shareholders of the holding company of the holding company of the holding company. Then, the 20% can have a minority vote when it is time to elect board members. Then, they will either lose the election or they will win and become board members of the holding company of the holding company of the holding company.
Nice clean transaction...see?
$1290 in filing fees + attorney costs.
That court is in downtown Las Vegas. It is a bad neighborhood. I think if you decide to have the meeting at circus circus, as previously discussed, you'll be better off there than near the downtown courthouse. If you buy a pass to the indoor amusement park first, then you'll still have something to do when your casino $s run out.
Think Ren will dress up as a Chinese acrobat?
32,300 shares at $0.15. Then 200 at $0.19.
Just wondering if this was someone who was part of the group, saw the inside information about the shareholders meeting, and then decided to get out. If so, it will be need to be disclosed, and the group will no longer be able to say no one has sold any shares.