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Kraton Performance Polymers Inc. Message Board

antislapp1 32 posts  |  Last Activity: Dec 16, 2014 4:21 PM Member since: Mar 12, 2011
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  • Reply to

    2 days left.

    by antislapp1 Dec 15, 2014 12:36 PM
    antislapp1 antislapp1 Dec 16, 2014 4:21 PM Flag

    Pardo may actually be trying to keep the company afloat and is hoping to somehow come up with the money and needs more time to do so. Or, perhaps he needs time to fine an appeal over the judgment. I can't see him cutting a deal now where he and Peden leave the company, leaving it to be run by some other idiot who plays with trains or makes pizza. It is too late for that, and there aren't enough revenues from the primary operation to keep it afloat. Of course, a delay gives them more time to burn or change all that paperwork (lol).

  • Reply to

    2 days left.

    by antislapp1 Dec 15, 2014 12:36 PM
    antislapp1 antislapp1 Dec 15, 2014 2:54 PM Flag

    I wonder if they are shredding papers right now...

    Whoever takes over will see what has really gone on, specifically what premiums are being paid to the carriers vs. what is billed to the fractional investors. Those lawyers Dunnam & Dunnam lawyer at Advance Trust can't be shredding, assuming the family law firm wants to remain in business. But Life Partners may be getting ready for the invasion in WACO. You know, where the doors get taped closed after guys and gals wearing the same initialed clothing take everything they can find into trucks. Get ready to dance the RICO mambo, assuming there is a difference in premiums. If not, it is going to be worse than Chapter 11.

  • antislapp1 by antislapp1 Dec 15, 2014 12:36 PM Flag

    Can Life Partners pay the fine? If there is an appeal, the SEC will demand assets be pledged.

  • Reply to

    Where did all the money go?

    by canyonsman Oct 29, 2014 5:26 PM
    antislapp1 antislapp1 Dec 10, 2014 9:43 AM Flag

    Actually, you aren't even close. Some of us have followed Life Partners for years and have seen dividends, special dividends, outrageous salaries to family members, payments to a "wife", for aircraft, etc. Remember, more than 50% or the dividends goes to Pardo directly or into the offshore family trust.

  • antislapp1 antislapp1 Dec 9, 2014 12:41 PM Flag

    Who is still manipulating this stock? I know! If is Pardo and crew for not issuing an 8K filing for this latest defeat from the SEC, a defeat with penalties so great that it should bury the company unless something happens on a quick appeal. Life Partners had 4 days to file an 8K, and nothing is in sight. There is only 14 days for Life Partners to pay the penalty, but the company doesn't have the cash (or assets to sell) to meet the number set by the SEC. There may be no 8K filing now, but there will certainly be news within the 14 day time frame. Either Life Partners pays the fine with $ it doesn't have, appeals somehow, or turns off the lights.

    But who is still buying shares of this stock? If there are any shorts left, they will likely wait for $0.25 or even $0.00 (they aren't covering). Who else wants this? What is the current spin from the Pasadena Pumper? The trust went bust, the assets are mostly gone, Pardo would never take it private since 1) The money is still owed in penalties and anything unpaid could be attached to a new private company, 2) Anyone can start a similar company for a few hundred thousand dollars, so his master licensees surely have to know they don't need Pardo to promote a similar scheme,3) Pardo still has to pay his personal penalty, and may just decided to walk away while and spend his days fighting the civil suits, and 4) He will still have to disclose most or all of this going forward. So, what is the spin to get someone to buy the shares now? It is making more and more sense that the scenario suggesting the stock is all in friendly hands is correct. I hope not, because if undisclosed that could be serious violation that would warrant a big penalty.

    It shouldn't be hard for a shareholder (e.g., a private investor or an index fund) to get a current shareholder list. I think it is time equity investors to discover who really owns all this stock.

  • antislapp1 antislapp1 Dec 9, 2014 12:17 PM Flag

    The 8K will never be issued. Why? These clowns run the company solely for the benefit of Pardo, with no regard for the fractional holders or the small shareholders.

    LPI, LPHI & Pardo need to be investigated by American Greed. The only problem is that the show usually wants people who have been arrested, and so far penalties have been civil and not criminal. Of course, the fractional owners and the small shareholders may think differently.

  • Reply to

    While chomping on a spoon of Special K....

    by suva.crew Dec 8, 2014 11:21 AM
    antislapp1 antislapp1 Dec 8, 2014 1:01 PM Flag

    I can understand the auditor's lack of a negative going concern opinion until now, but not the lack of 8K filings. This past event is clearly "material," since it effectively places the company into bankruptcy unless there is a major cash infusion. And even if the latter event could happen--and I don't think it will--that event and the events preceding it are all "material."

    The lack of an 8K filing shows a complete disregard for the shareholders other than Pardo, Peden and Ballantyne, all of whom will gain financially from an artificially high stock price resulting from lack of disclosure (the 8K filing). The last guy, Ballantyne, promotes himself as a director of several private companies. He should be more than a tad aware of his duties and expected loyalties as both a director and fiduciary. Peden, as an attorney, should know better and has at the very least an ethical obligation to inform others of proper behavior. Pardo? He is the serial fraud recidivist, or so claims the SEC.

  • antislapp1 antislapp1 Dec 6, 2014 4:45 PM Flag

    ROTFLMAO! Of course, the Cassidy LE propped up this scheme longer than the dead Bernie was propped up. The BOD voted on every since dividend distribution and on the insane salary packages. I wonder if they were just informed that their Officer's & Director's insurance will no longer pay? That 14-day clock is ticking down, and decisions have to be made regarding both an appeal and where to find the funds to pay the penalty. You are looking at Weekend at Bernie's, and I am looking at a St. Bernard in Vail listening to Jim Morrison's/The Doors, "The end." For LPI, this could be the end.

    This is the end, beautiful friend
    This is the end, my only friend
    The end of our elaborate plans
    The end of ev'rything that stands
    The end

    Is that the son-in-law who is back posting the "thumbs down" again? When the devastating news hit, he was gone for a while.

  • antislapp1 antislapp1 Dec 5, 2014 1:24 PM Flag

    I have also thought about the trading of this dog. Did Pardo and crew pick up all the float thinking there would be a short squeeze? It has been done by others before. I think that is unlikely but you cannot put anything past a guy who the SEC calls a "serial fraud recidivist." Is there offshore trading of the stock by his trust or by others? I have no idea. Do the pumpers of the stock still believe Pardo can win? If so, the people buying over the past few years have to be tired of the story by now since they have major losses. The trading of this stock makes no sense. Nor does the trading of NOG, but that is another story that John has detailed in a recent email.

  • Reply to

    I'm sorry but....

    by trgsam Dec 4, 2014 11:22 AM
    antislapp1 antislapp1 Dec 4, 2014 4:04 PM Flag

    Auditors issues "opinions" and management offers "judgments." These are very different than "facts." When an honest auditor comes along (not very often) and refuses to sign off on the financials, the client (now a "target") often times fires back. In Pardo's case, he threatened to sue the auditor.

    I cannot see why the clients of Advance Trust were not informed of the relationship between Pardo and the Dunnams. This includes political donations, personal friendships and everything else. There may not be improprieties, but the relationship between Advance Trust, Dunnam & Dunnam, and LPI and all the principals certainly give rise to several questions. BTW, what is the definition of "arms length" in terms of fiduciary conduct?

  • Reply to

    I'm sorry but....

    by trgsam Dec 4, 2014 11:22 AM
    antislapp1 antislapp1 Dec 4, 2014 12:56 PM Flag

    According to Cassidy, Jack Kelly "fell, hit his head, and had a failed hemorrhage." Allegedly, of course (lol). If this saga eventually airs on American Greed, I'll bet that deep voiced narrator plays up Jack Kelly's death (whether there is anything else there or not).

  • antislapp1 antislapp1 Dec 3, 2014 3:48 PM Flag

    He may indeed be a liar and/or stupid, and if his pockets are deep enough he could be sued.

    No one is going after Advance Trust to see how much was paid to the carrier for each policy, and then determining if that is the amount the fractionals were billed. If not, Pardo and the Dunnams have a lot of explaining to do.

  • antislapp1 antislapp1 Dec 3, 2014 3:44 PM Flag

    He is not bad investor, so why did he buy those shares? We know what the judge thinks of him (incredible stupid or a liar) for stating under oath that he never read the WSJ articles. But he is a director who knows better. I think this stocked has been propped up for years with money that came from somewhere. Now, didn't someone once think that the premiums less than what the fractionals were being billed? If so, what happened to that cash.

    The plaintiffs haven't figure this out, yet. Perhaps it is nothing, and perhaps not.

  • antislapp1 antislapp1 Dec 3, 2014 3:25 PM Flag

    Guys/Gals,

    Assuming an audit of the companies does not match, it would explain quite a few things including what exit strategy was planned for this scheme based upon the Cassidy LE. Regardless of whether premiums from the fractional investors were greater than what LPI sent to the insurance companies, Advance Trust knows what has gone on. It is run by lawyers who are obviously friendly with Pardo. If Pardo did indeed honor Vance Dunnam (the old man) with a gift of naming a building wing after him, and if Dunnam did do legal work for Pardo or LPI (like suing a critic of the company), then all these transactions going through Advance Trust (several Dunnams are directors) certainly have the appearance of an impropriety or perhaps many improprieties.

    Don't you hate it when small time lawyers think they should act as corporate fiduciaries?

  • antislapp1 antislapp1 Dec 3, 2014 12:34 PM Flag

    Meant, "Reagan-appointed district court judge that once recused..."

  • antislapp1 antislapp1 Dec 3, 2014 12:32 PM Flag

    The problem is now with public perception and cash. Who will invest with LPI now, and what salesperson with any integrity will want to be associated with the firm? An appeal will cost money and perhaps the need to put aside cash for the penalties (there aren't enough assets let alone cash left). Insurance may no longer cover the principals. The Regan appointed district court judge who was on Pardo's yacht and once worked for Dunnam & Dunnam can't help Life Partners. Rick Perry, who hopped on Pardo's personal aircraft, can't help Life Partners.

    There is no longer a positive spin on this material event. Speaking of "material," where is the 8K filing?

  • antislapp1 antislapp1 Dec 3, 2014 12:13 PM Flag

    Didn't the break-up language give seven figures to Advance Trust? And who gets the money first, since there isn't enough to pay the penalties now that Pardo sucked the company dry having sent all those dividends offshore to his family trust?

  • antislapp1 antislapp1 Dec 3, 2014 12:06 PM Flag

    How much did Advance Trust & Life Escrow Services earn? We don't know what, if anything, was ever kicked-back to Pardo and crew (Pardo did donate $ for a building wing and named it after Vance Dunnam). We do know there was a past revenue sharing agreement regarding interest earned on policies before the money was invested. We also know what Advance Trust charges in fees, and boy did those lawyers clean up on all those resales and people who transferred policies (to a related party). See the life escrow services website for the fee schedule. Interestingly, there is no email contact...just a phone number. I guess all that proprietary software never got to Advance Trust & Life Escrow Services.

  • Litigators, don't forget about Advance Trust. Those lawyers from Advance Trust, "personal friends" of Pardo, obviously knew everything that was going on since they controlled the money. Those lawyers knew where the money was going, they knew about the bogus premium reserves, they knew about the hidden fees and commissions, they knew about the transactions that were not at arms length, they knew about the breach of fiduciary duty (and may have been involved), they knew about the number of policies that did not mature on time, they knew about the number of resales, they knew about the number of complaints...they absolutely knew and know about this whole charade and never did anything to warn the victims who pay them for each fractional policy held. These examples are textbook breaches of fiduciary duty.

  • Reply to

    Hope they had Insurance to cover loss.

    by iwillbone Dec 3, 2014 11:21 AM
    antislapp1 antislapp1 Dec 3, 2014 11:45 AM Flag

    Insurance generally won't cover things like fraud. The officers and directors may be personally liable now for the various lawsuits that are still out there, not to mention the current penalties. The insurance carrier might ask for some money back that was previously paid.

KRA
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