" All I know is that UniPixel told Intel earlier this month that production has not started and is not about to start anytime soon. "
UNXL told everyone that in the last C.C. If that's what you're basing your short on it's a pretty weak basis.
INTL still has an agreement with UNXL, if it's backed out that's a secret to everyone (and would require a form 8 filing).
UNXL has announced they would update their progress in a few weeks. If your position is they set up that call to announce "nothing has changed since the last call" I'd say once again...that's a pretty weak basis for a short position.
It seems to me the first short argument was that UNXL could never produce at the 5MM level....it was technically impossible.
Once that proved possible, and accepted, the new argument became it was technically impossible to achieve that at production levels.
At the moment it looks like that argument will be toast in a few weeks, all I see that is left is.....
UNXL can never sell their product for a profit.
But to believe that you have to believe INTC and Kodak are both idiots.
Again, looks like a weak basis for a short position to me.
If it was that obvious and that true Kodak would have backed out by now and there would be no partner signed on for their tablet size screen.
In the last C.C. pricing pressure was admitted and discussed, but was presented as more as a positive than as a negative as it drove market share to UNXL (the lowest cost provider).
"Kodak has already started firing engineers who worked on the UniPixel/Kodak project - I guess you did not get the memo."
I don't know where you get your updates from, but if it's true why would it be considered a negative? The 5 Micron level was considered impossible by the shorts yet it was achieved. Maybe those engineers have moved on to other projects at Kodak now. That would be as expected.
And if I was INTL I'd have been upset UNXL didn't produce a long time ago....not now when they are finally on the verge of production. What changed that would make them upset now when they've been so patient for over a year? Maybe they're upset about UNXL focus on the tablet, but surely they understand the logic behind it.
"txamag89: It is a fact, and I reiterate it, that neither UniPixel nor anyone else can RELIABLY print 5-micron traces of catalytic ink on a PET substrate at a speed of 50ft/minute. How do I know? Mark Andy, a market share leading manufacturer of flexo printers - the ones that UniPixel claims to be using - told me a few months ago that they had only once customer in the world that claimed it could be done..."
I'm pretty sure that's why UNXL ran to 40 last time...Killion convinced investors it was only a matter of time until it would be in production when no one else claimed it was even possible.
But your report just leads credence to the run in that no one else on the planet even claims they can do it.
Surely there is remarkable value in something no one else can do.
So if Kodak and UNXL have solved the technology issues and announce they will begin production and shipping within a few months it certainly would sound hypocritical of you to state there is no value here.
"If I had my time and money invested in yourself and you weren't responding you better believe id find out any and all information about yourself as well. "
I don't have a problem with that, I"ve done it myself. But posting it, which tacitly encourages others to pursue contact, is perhaps not the nicest of moves. If FAB really is a scam I have no problem tracking down responsible members and contacting them directly. If they are legit, and it appears that way for the most part to me, harassing them will not produce anything positive.
That said, you're looking in the wrong place for the date and time of the oral hearing. I already talked to legal department at the NYSE (the right place to look), the hearing is off limits to the public. FAB could not let you in even if they wanted to.
It also appears to me Spencer is either paranoid or guilty. I'm leaning toward paranoid at the moment, as I"ve known many individuals that changed their behavior dramatically after having been grilled by lawyers in depositions and court rooms on prior matters.
Roger has stated very clearly (in his SA article and follow up comments) he has a high level source within INTC that directly told him UNXL is not producing now and has no firm plans when they will.
He further admits he traded on this information, believing it was legal because his source told him it was not "material information to INTC".
This is a ridiculous argument, which becomes even more obvious if you switch it around.
Suppose his "inside source" told him UNXL was producing touch sensors BEFORE it was announced by UNXL and he traded/long UNXL shares on this information....because his source assured him that was NOT MATERIAL to INTC.
Think the SEC would let it pass or take them both down?
" I continue to speak for the shareholders."
This from the guy who bet his life savings shorting the stock based on an undying belief in the Carnes Scam.
Please spare us the humanitarian angle, you don't give a #$%$ if I or anyone else long this stock losses all their money.
The fact is you speak for the shorts, and no one else.
LBCB info is correct...perhaps a first here.
I'd hold off on giving up at the moment. You've waited 7 months, a few more weeks shouldn't kill you.
The oral hearing should be held in the next week or so and if my timing of the independent investigation is correct (similar to ONL) that should follow shortly thereafter.
If they get kicked off the NYSE they should start trading on the pinks (at the least) within a week....maybe even the OTC if they can get a 10K filed.
I'm still pushing the company when all is said and done to offer up a 1 dollar a share dividend (it's the least they can do if the money is really there) as a token gesture for the pain they've put shareholders thorough.
As for Spencer, I see he bought his house in Florida at the peak and it immediately dropped about 800K in value (tax records). Pretty sure that's where the money went from his stock sale.
Seems to be the norm now with Chinese stocks, whenever there is a questionable event (like a large unexplained movement in the share price) an independent investigation gets announced. As far as I can tell there are no hit pieces out there accusing them of being a fraud (like NQ and FAB).
"The Company is aware of market speculations about the reasons for the restructuring, including allegations of employee misconduct, which have led to significant fluctuations in its ADS price. The Company announces that today its board of directors has authorized an independent committee, consisting solely of independent directors, to look into the market speculations. In order to provide a high level of transparency to its shareholders, the Company will update shareholders on the results of its findings."
I'm was thinking what FAB would be worth if the Chinese version is all fake. Seems to me the share count would revert back to 10M (total before the 12:1 RS) meaning the market cap would drop to around 30M. Considering the Podcast business is finally profitable (1M and growing) and Wizard traded higher than that previously the hit to the share price (when all is said and done) would not be much....meaning if this does get delisted and trades for pennies it could turn out to eventually be a great buy.
Just a thought, I've still not changed my mind how this will play out.
"I posted the EXACT section numbers of SEC code they violated. You can also get that information from the complaints. Have you even visited pacer to read the exact violations as detailed in court proceedings."
Yup, you can cut and paste with the best of them. Don't understand a lick of what you're posting, but sure sounds impressive on paper.
I'm going to guess you're a retired idiot who fell for the Carnes Scam. Even being way over extended and in fear would not entirely explain your obsession with this message board. Sure you have the motive (having fallen for the Carnes Scam), but to have the time you have to be retired.
What kind of idiot would offer 1 million on a bet that is impossible to prove one way or the other?
Just for fun I bought 1K of NQ today. I figure if I have to follow it I ought to at least be paid for my time. Seems to me their 10K will get filed at some point and the trading range will be 7 to 9 until that time.
Did you lose one million betting on silver? You store guns and water in your basement, too?
"So did you cut your losses and admit your mistake or did you average down and throw more good money after bad? "
I don't average down on speculative stocks. I place a bet (bought at 7.09) and will let it play out and only change it if my original reason for buying changes. In NQ's situation my bet is the audit comes out in the next 30 days and is unqualified. If I was you I'd be adding about 10 paragraphs as to why, but I'm not you.
1k is not a big bet by me, but if it hits it will pay a few hundred percent....which is what speculative bets are about. The downside is I loose my entire investment.
I'm expecting new from the NYSE soon on FAB. It's been over 6 weeks now.
LBCB is a strange one, but I guess it takes all kinds to make up the world.
My thinking is using silver for an investment hedge is OK, but as insurance in case the world
all but ends is pushing the limits of sanity.
As for NQ, it would surprise me if their 10K did not come out unqualified. It is crazy to believe the 10K would come out within a week or so of the conclusion of forensic audit. I give it a month or so.
FAB's hearing has to be soon. If I remember right the it could be as early as 25 business days, but there was no exact end limit. Maybe they got an extension because of the change in auditors. Since FAB is staying quiet on everything that doesn't require an SEC filing all we know is the results of the hearing are not in (it may have already occurred).
Just noticed the 10K, haven't had time to read it and won't for a day or two, but I see they opened an office in my neck of the woods. Can't hardly wait for the annual meeting.
This is the only reason FAB was facing delisting, that becomes a moot point now.
I'm very surprised this came out prior to the forensic investigation. This is NOT playing out like NQ (I was wrong).
Happy, but wrong.
I was right about the timing of news, however.
My new best guess is the forensic audit shows up in the next few days along with the NYSE pulling it's delisting notice..
Going to be very interesting to see how the 3M shares short pull themselves out of this one. SA should come up with multiple hit pieces to help them out, but I doubt it will do much good. The daytraders will smell blood on this one.
Holy cow, there is plenty in there to digest....they've been busy since the halt.
"We have appealed the staff’s determination in this regard to the Exchange Listing Qualifications Panel and a hearing to review the staff’s decision has been scheduled for July 16, 2014."
Cash is around 110M, which is crazy. Pretty clear they got their money back from those bldg contracts.
Shares outstanding is still 20M. Not sure why that is? Sure it's in there somewhere.
Kiosks (License) count up near 18K. Sure not backing down on that one.
Revenue up nearly 40%...hard to argue with that one. Profits of over 1 dollar a share.
First look is awesome.....but still a few days to digest.
"The decrease in prepayments for setting up flagship stores is due to the refund from eleven third-parties in the amount of RMB 110 million (approximately $17.8 million) in 2013. "
There should be more info when Q1 2014 comes out...should be soon
But it looks like they got 17M back so far of their deposits....which is one reason cash is so high.
Going to bed, will look it over further this weekend.
"Not all kiosks possess the capability of performing all functions noted below."
Those that fell for the Carnes Scam kept quoting docs the originated in 2012 and after.
This was part of the Carnes Scam, because 10K of those 16K Kiosks were around before 2012.
Carnes knew this, but many fell for it anyway and held their short.
This just outlines what I've been saying all along......the pre 2012 Kiosk agreements may have been significantly different than the post 2012 ones. To assume they were the same is going to turn out to be a costly mistake when this opens for trading.
Yup, that may change, but as of that date that's the share count.
My guess is those 3 tranches are up for discussion at the moment. Khang pulling that bond stunt put FAB in a very difficult position and cost shareholders many sleepless nights over the last 7 months. He appears to be one heck of a businessman, but clearly he stepped out of line (saw an opportunity and ran with it) when what he needed was just a little patience.
But best to assume they eventually become part of the final share count.
FAB, after being halted and accused of fraud (independent eval ongoing) unexpectantly filed their 10k at the close of business Friday (with spectacular numbers).
FAB was considered the one much more likely not to file (as it's been halted while NQ has continued trading the entire time), but both are accused of being frauds (Block NQ and Carnes and Goinvesting FAB).
If FAB can file my guess is NQ will not be far behind.
First off, you're an idiot.
My position is and always has been they would file. Whether they were late or not they would file, and purse their NYSE listing. They would NOT go dark, as frauds do. I also stated in the end the halt would NOT matter as the business appeared to be doing just fine.
Your position (based upon your belief in the Carnes Scam) was they would go dark and you'd never hear from them again....under advice from their attorneys.
Under no circumstances would their CEO sign off on another 10K because of SARBANES-OXLEY. Do I really need to dig that up?
In short, you were completely wrong here (which we both already knew). I suspect your only reason for posting was to scare shares holders into selling so you could cover. You can keep trying...but your credibility (whatever was left of it after those end of world comments) is pretty much shot.
FAB staying listed isn't even an issue now that the 10K has been filed. Below is the reason they were being kicked off in the first place (non-filing of Form 10K). I would be surprised if the hearing was not canceled.
"FAB Universal (NYSE MKT: #$%$), a worldwide distributor of digital media and entertainment announced on April 7, 2014 that it had received notice from NYSE MKT LLC that, based upon a review of the Securities and Exchange Commission’s (the “SEC”) EDGAR database, that FAB Universal Corp. has yet to file it Form 10K for the year ended December 31, 2013. As such, FAB Universal Corp. (a) is not in compliance with Sections 134 and 1101 of the NYSE MKT Company Guide (the “Company Guide”). "
The issue now becomes when will they start trading again. My hope is the independent forensic investigation follows the 10K by days. I hope they do not start trading again until that is out.
The numbers on the surface look spectacular for a company with a market cap of 60M, but why not pile it on before opening? With 3M shorts, most jumping on below FAB's cash in the bank now, it's going to be fun to watch this play out.
LCBC will of course post and night and day out of fear of losing his shirt, but he's pretty much been declawed at this point. All he can point to is the boilerplate disclaimer (because of the bond)that will go away once the investigation comes out (new controls put into place). Being completely wrong for 7 months has it's price with creditability.