Hales before Bipolar......a lil teaser for ya allHi Smartrookie et al:
I want to add something to the corporate picture you just gave us. You see it clearer in the 2007 financials. I pasted the expense graph below.
Note the amount for consulting fees. They trippled since the company returned to recycling. There were more consultants when the company was promoting a computer game, but they were local. I believe I read somewhere (in the financials) that there are now ten consultants, many/most of them with ties to the company. Which means you are really looking at deferred profits. That means (1) the company is more solid than the report you mentioned Smartrookie. (2) If anyone is looking for the milk cow - here it is, consulting fees - BUT only if Orcy makes it and has something to pay out with. (3) Deferred debt or not, some of these guys are eventually going to want to collect.
You asked about Peter Gardner having shares. No, but I found at least one reference to his being a consultant. (It's really difficult wading through that section, as most transactions don't name the parties.)
As for Rene, the Sept 2007 financials state that he is owed (as one of the companies "banks" - i.e. he loans it money - landlord and a consultant) $1,799, 706. One of his wife's companies also forgave the company a $500,000 debt. (I'm mentioning that because it shows another side of Rene's character.)
Personally, I was initially shocked when I found all this, but that was a couple of weeks ago and I've since come to think of it as part of the world they live in. I could be wrong.
(As a painting contractor, I've heard far too may comments about our excess profits. I can say the same thing about the years I planted trees. I'm not interested in an outsider's view. The people I'd like to hear from, if any of you are here, is business men.)
|
|
|
|
For the years ended
September 30,
|
|
|
|
|
|
2007
|
|
|
2006
|
|
|
|
|
|
|
|
|
|
|
|
Revenues
|
|
|
$
|
-
|
|
|
$
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Expenses
|
|
|
|
|
|
|
|
|
|
|
|
Advertising
|
|
|
219,461
|
|
|
|
282,647
|
|
|
|
Depreciation
|
|
|
2,383
|
|
|
|
1,359
|
|
|
|
Consulting and professional fees
|
|
|
2,846,752
|
|
|
|
2,220,973
|
|
|
|
Rent, utilities and telephone
|
|
|
85,299
|
|
|
|
99,827
|
|
|
|
Office and administration
|
|
|
24,408
|
|
|
|
23,327
|
|
|
|
Investor relations & communication
|
|
|
133,004
|
|
|
|
65,964
|
|
|
|
Travel, meals and entertainment
|
|
|
135,172
|
|
|
|
125,950
|
|
|
Total expenses
|
|
|
3,449,890
|
|
|
|
2,820,047
|
|
Rhales21
5/6/2008 10:39:43 AM | | 48 reads | Post #23096438
Rate this
Login Required
overall quality
1overall quality : 1
Average quality rating by the Stockhouse community.
Login Required
Login Required
Nobodies asking, so I'll tell you anyway.
I could fault Baines on a little things, but I'll go to the big one. He wrote "In July 1999, the B.C. Securities Commission found that Thermo Tech had paid $11.5 million for a 50 per-cent interest in two Ontario transfer and waste management facilities that were valued at only $5.9 million. It issued a cease-trade order until the company explained itself, but an explanation was never provided.”
Sounds pretty damming does it. This cease trade was what really killed Thermo Tech. The shares could still trade outside of BC, but by Jan 3 2000 were only worth 3 cents.
What Baines doesn't mention is that Rene didn't pay “11.5 million,” he paid 4.2 million shares. The Secutrities Commission calculated the shares were woith 11.5 million based on "the trading value of the Shares on Nasdaq on February 11, 1998” when the price was $2.06
Just out of curiosity, I looked up the price a week earlier (February 4th) and found it was $1.43 and a week before that (on January 28) $1.28 (Check it out at https://www.marketwatch.com/tools/quotes/historical.asp?date=1%2F21%2F1998&symb=TTRIF&siteid=mktw&x=12&y=8) If the commission had used that last figure, Rene got a bargain (only 5.376 million!!!). Instead he was smeared as crook!