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Wireless Ronin Technologies Inc. Message Board

h_grant_h 10 posts  |  Last Activity: Jul 18, 2014 7:53 AM Member since: Aug 28, 2006
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  • h_grant_h h_grant_h May 7, 2014 9:55 AM Flag

    Old news.

    The SEC is always too late to the table. The reverse merger happened in 2009. Those crooks were long gone.

    This company is rock solid in terms of its business model and its pristine balance-sheet.

  • h_grant_h h_grant_h May 7, 2014 11:03 AM Flag

    The case was already closed. Here's the conclusion - nothing to do with the companies now.

    "The SEC’s complaint charges Kelley, Tazbaz, Lockhart, Agriogianis, and Becker with violating the antifraud, securities registration, and securities ownership reporting provisions of the federal securities laws. Becker is charged with violating the antifraud and securities registration provisions. Kelley and Becker also are charged with violating the broker-dealer registration provisions. The SEC’s complaint seeks disgorgement of ill-gotten gains plus prejudgment interest and financial penalties as well as penny stock bars.

    In the settlements, Kelley agreed to pay disgorgement of $2,828,353.53, prejudgment interest of $560,812.47, and penalty of $2,828,353.53. Lockhart agreed to pay disgorgement of $1,819,211.77, prejudgment interest of $332,268.15, and a penalty of $1 million. Lockhart also consented to a bar from participation in any penny stock offering. Agriogianis entered into a cooperation agreement with the SEC under terms that reflect his assistance in the investigation and anticipated cooperation in the pending litigation. Agriogianis agreed to a penny stock bar, and financial sanctions will be determined by the court at a later date upon the SEC’s motion. Kelley, Lockhart, and Agriogianis consented to the entry of final judgments including permanent injunctions without admitting or denying the allegations. The settlements are subject to court approval.

    The SEC’s investigation was conducted by Jennifer A. Ostrom and Kurt L. Gottschall in the Denver office. The SEC’s litigation will be led by Leslie J. Hughes and Nicholas Heinke. The SEC appreciates the assistance of the Ontario Securities Commission."

  • h_grant_h h_grant_h May 7, 2014 12:30 PM Flag

    Look, you idiot. Those Chinese clearly didn't speak English, and they didn't know anything about stock frauds in the US and Canada. They simply bought the idea of reverse merger, which happens to be legal; and they thought those crooks from Canada were good people.

    As a business deal, they signed on to cover the cost of listing in the US. It was a case of being deceived by some criminals from Canada and the US - what else was new???

    Listing in the US is very costly from the start. They were sold by the idea of reverse merger, and they wanted to save some money in that process. There was nothing wrong from the Chinese side - they never heard of reverse merger before. So they bought into this "cheaper" way of getting listed in the US. And a lot of companies are still doing it today!!

  • Reply to

    no dilution to drill

    by rvcassociates May 22, 2014 11:13 AM
    h_grant_h h_grant_h May 22, 2014 11:15 AM Flag

    Rampart only covers the 3D survey.

    Drilling costs are to be shared.

  • Reply to

    no dilution to drill

    by rvcassociates May 22, 2014 11:13 AM
    h_grant_h h_grant_h May 22, 2014 11:32 AM Flag

    Rampart has no money. None. It paid for the 3D, and the $3.4mln to ROYL for the rights to drill and earn up to 75% WI in the west block, which is considered the shale oil.

    If Rampart could come up with $30 mln, it would start to drill in 2015, the first two exploration wells. Royale would cover the rest of the cost.

    Royale has hired Roth Capital to help to raise $10mln. And I think Roth is responsible for this jack-up act. I think the stock will go back to $3, could be lower, for the new share offer coming up.

  • Reply to

    Rampart secured $50 million loan already

    by edvoks May 22, 2014 12:46 PM
    h_grant_h h_grant_h May 22, 2014 1:01 PM Flag

    Rampart looked a lot smarter than Royale did with this funding so easily available to Royale as well. But instead, Royale gave up 75% WI interests to Rampart for practically some leg works!

    You wonder why ROYL has never been able to make it big for over 10 years? That management team has had no heart - they have never wanted to work hard.

    ROYL is going to crash like every other time - it sold 75% WI for peanuts. Oh well, the chart tells a true story about ROYL.

  • Reply to

    Rampart secured $50 million loan already

    by edvoks May 22, 2014 12:46 PM
    h_grant_h h_grant_h May 22, 2014 1:19 PM Flag

    The funny thing about that deal with Rampart was truly mind-boggling - it tells you a true story about how stupid this Royale management team has been.

    From very beginning, the funding was readily available to Royale, only if they had looked for it!

    But instead, it sold 75% WI for nothing - Rampart owners are a lot more creative and hard working. They simply sent out some documents with the help of Royale; and viola, the funding came running to them. It's just that simple.

    The worst part for Royale was that, If you look closely, once Rampart expenses reach $30 mln, Rampart would be entitled to 75% of WI, and take a free ride home. Meanwhile, Royale would be stuck with the remaining project, for a mere 25% of WI.

    So, in case of a cost overrun, which is definitely in the cards, Royale would be dead in the water - the burden of the costs over $30 mln will be all Royale's to bear. Rampart will be sitting in a nice office and enjoying the scenery.

    The Royale management team is really not the kind of people you want to bet big money with.

  • Read the PR, and read it again.

    It didn't say anything substantive. They simply said that they looked at the 3D result, and feeling lucky; will send it to a third party for professional interpretation.

    Basically, they're not real experts in 3D survey, and they needed help. They're really clueless !!

    It's always funny when the big crowd just chase anything moves. And they're always getting slaughtered in the process. What else is new?

  • h_grant_h h_grant_h May 22, 2014 3:43 PM Flag

    And having shorted enough shares into the big chase, Roth Capital will announce the new share offer pricing. It's going to be $2.75/share.

    And like clock work, the stock crashes down under $3. It's disgusting, they finally realize. "Too late! Already lost big time."

  • Let's be honest, folks. By firing PWC, a legit Big-4 that would have really given a chance for NQ to restore some of the credibility in the end, however long it might have taken to complete the audit, company finally did itself in - guilty as charged.

    For all the intents and purposes, NQ lied again in its latest PR with regard to firing PWC. There're clearly big "disagreement" about the audit and the procedures to conduct what are considered necessary by PWC. But NQ clearly disagreed - NQ won't be able to substantiate its claims made to PWC.

    Because PWC clearly didn't want to risk its reputation this time with NQ, it didn't bulge on its audit positions. PWC would rather lose the work contract with NQ! Wow. NQ is really a fraud and the Wall Street will have no choice but to treat it as such.

    What is the cash value for the stock? Can those big investors sue and get the money back? I doubt it very much.

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