Medical Study of Stinger S-200 Stun Gun Completed Monday December 17, 9:15 am ET Study confirms cardiac safety
TAMPA, Fla., Dec. 17 /PRNewswire-FirstCall/ -- Stinger Systems, Inc. (OTC Bulletin Board: STIY - News), a leader in electro-stun technology, today announced a major research university has completed a comprehensive cardiac study of the Stinger Systems' S-200 projectile stun gun. Details of the study are being withheld pending publication at a scientific meeting and/or in a scientific journal. However, this study confirmed the cardiac safety of the S- 200, which had previously been documented in internal safety testing. Stinger Systems' stun products have been used since 2000. Thousands of applications have occurred and, to date, the Company has had no reported injuries or adverse health effects using its products including during training. Additional medical studies of the S-200, including direct comparisons to the Taser M26 and Taser X26 are currently underway. ADVERTISEMENT
Stinger Systems, Inc. intends to introduce the study for acceptance into evidence at trial of its federal case against Taser International, Inc. (Nasdaq: TASR - News) for false advertising/unfair competition, that is United States District Court for the District of Arizona case CV-07-0042-PHX-MHM.
ABOUT STINGER SYSTEMS
Stinger Systems, Inc., a leading provider of electro-stun technologies, develops and sells a broad array of products utilizing advanced electro sparc- pulsed technology to police, corrections, and security sectors worldwide. http://www.stingersystems.com. Posted by ullnvrknw on :
Great close. With only 8.44 million in the float and 11% held by insiders this could fly.
Posted by ullnvrknw on :
Here it goes again....This could be a monster
Posted by The Bigfoot on :
Well Done, nice find.
Little to late for me to be comfortable getting in. Seems volume is starting to drop.
Have fun with your winnings!
BF
Posted by ullnvrknw on :
Good entry point after the profit taking from the low purchases in the .20-.40 range
Posted by TimW on :
.66 now
Posted by TimW on :
.74
Posted by TimW on :
.86
Posted by ullnvrknw on :
You in Tim?
Posted by ViperZ on :
This looks really good.
Posted by TimW on :
I wish.. settlement of funds didnt occur in time.
Posted by ullnvrknw on :
This could really explode with one sale,better than the tasr gun from what i hear
Posted by TimW on :
I jumped in at .85... hope continues.
Posted by ullnvrknw on :
Time to buy this one. Seller cleaned himself out at .82,.80...
Posted by TimW on :
1.01 on double volume... increased position a little due to how quickly its jumping on buys.
Posted by TimW on :
close: .93 up 9%
Posted by ullnvrknw on :
Saw that run coming. Seller was sitting at .85 all day and decided to hit the .82 bid to clean his remaining 20k shares. They took him right in at .82, .80 and big buys started to take all the offers. Something must be coming out Monday
Posted by ullnvrknw on :
Sold some at .90 for a double. Holding the free ones now
Posted by TimW on :
Ive been trying to buy some more on this dip but the orders are just sitting there.
Been watching it at .83.. drop to .81.. and my orders been sitting at .85 limit for 2 hours..
Just dropped it down into smaller chunks maybe it will help. Posted by ullnvrknw on :
Here it goes again. Now why didn't i hold it all?
Posted by Happy Valley on :
1.03 HOD...Nice job here fellas... Posted by ullnvrknw on :
1.13!!!!!
Posted by TimW on :
Settled at 1.08... Glad i added on the dip!! Got filled at .86
Posted by TimW on :
Ive done some research and this thing has way more advantages over TASR.
Biggest one including it DOESNT KILL like TASER does.
What will really shoot this company up.. is if they can finish and produce their wireless stun projectile that can shoot from a standard issue firearm... I think that would take this to the sky, especially with such a tiny 8.4 million float!!
Posted by TimW on :
**edited** Posted by ullnvrknw on :
Here we go again
Posted by TimW on :
1.38 +27.78%
Posted by ullnvrknw on :
Strong like bull. Even tough i sold half of my current position at 1.33
Posted by TimW on :
I thought this play was over...hmmm...********
Posted by TimW on :
Whats the ****** For ? Posted by wdcisco on :
You didn't want me to type it did you? LOL. Posted by TimW on :
Looks like another reentry point if you want back in .. I sold a good chunk at 1.16 to keep *some profits*
Looks a tad bit volatile today.
Posted by TimW on :
Wow that was scary! 1.29 to 1.44 to .97 to 1.27..
I almost screwed myself but managed to profit a couple cents a share buying back in on time..
Almost feel like i can make money doing this Posted by ullnvrknw on :
Something must be coming with the buying in this stock... Bought more
Posted by ullnvrknw on :
1.20 support in at 1.21
Posted by TimW on :
The bounceback after that huge of a dip (a good 40%!!) shocked me and induced more confidence..
Wish i had more available funds to add to mine, but my other stocks are performing nice enough not to touch.
As price increases im adding as i get more margin buying power from my other stocks as well, little at a time.. couple hundred shares here and there.
Posted by TimW on :
$1.34... + 21%
Not too shabby again.
Posted by ullnvrknw on :
TAMPA, Fla., Jan 07, 2008 /PRNewswire-FirstCall via COMTEX/ -- Stinger Systems, Inc. (STIY), a leader in electro-stun technology today announced that highly-decorated former New York City detective, Richard "Bo" Dietl, has joined Stinger Systems as a member of Stinger Systems' Board of Directors.
Mr. Dietl is a former New York Police City Department detective who made more than 1,500 arrests and became one of the most highly decorated detectives in the history of the department. He received 80 awards and commendations for bravery alone. A major motion picture, "One Tough Cop," based on Mr. Dietl's autobiographical novel, was released in 1998. After retiring from the police department, Mr. Dietl went on to become a highly respected security expert and investigator in the private sector in both national and international arenas. Currently, Mr. Dietl is Chairman and CEO of Beau Dietl Associates (BDA), a security and investigative firm that he founded in 1985. The firm boasts a client list that includes Sony Columbia Pictures, Coca-Cola, Grey Advertising, PaineWebber, Lehman Brothers, Bear Sterns, NCR and the Saudi royal family.
Mr. Dietl's references include Warren Buffet, Donald Trump, Sumner Redstone and Jack Welch. Mr. Dietl is a contributing commentator on security and criminal matters for the Fox News Network and has frequently appeared on Good Morning America, the Today show, CNN, CNBC, ABC, CBS, NBC and the Imus radio program. In 1989, Mr. Dietl was named Chairman of the National Crime Commission by President George H. W. Bush. In 1994 Mr. Dietl was named as the Chairman of the Security Guard Advisor Community to the Governor of New York and still holds that position.
Robert Gruder, Stinger Systems' CEO, stated, "I'm truly excited to have Bo Dietl become part of the Stinger team. Bo will be a great asset in getting the word out and making introductions to sell the Stinger S-200 projectile stun gun. I believe this is a validation of the quality of the Stinger to have such a decorated former New York City police officer and detective become a part of the Stinger team."
Bo Dietl commented, "In my opinion, the Stinger S-200 projectile stun gun is the best product on the market. As a former police officer and detective head of a large security company, I would only want to recommend the best available products. Further, I believe the Stinger S-200 is far superior to the Taser products not only in features and ruggedness but in price as well. Because of this, I would like to assist in promoting this great product."
Posted by ullnvrknw on :
I can smell a contract with NYC now.If they ever land that, you're talking a $50-100 stock in my eyes
Posted by TimW on :
LoL I was thinking to myself when i read this... now how many Stinger's does NYC need ?
Posted by trade04 on :
got some at 1.40
Posted by TimW on :
Just opened up my quotes and noticed..
$1.53 +14.18%
:-D
Posted by trade04 on :
soen dropping, how low you think it will go? i played the initial run, looking to get in on the bounce! thinking 1.10-1.15 but only if it does a penant
Posted by trade04 on :
sold some * 1.52
Posted by trade04 on :
lol droppe dlike a rock barely got out with profit..gonna wait this one out
Posted by ullnvrknw on :
That's how it trades. Thin float,it can run .30 in a blink
Posted by ullnvrknw on :
We will see the $1.70's today. Big buyer has been in UBSS for over a week now
Posted by trade04 on :
1.70 would be nuts..doesnt let a lot of investors get in though
Posted by TimW on :
Love how small the float is here! Tons of potential once they start getting bigger contracts.
NYC is a big group, 37,000+ officers. But imagine the power behind that also.. if NYC goes with them, imagine all the others that will follow...
Posted by TimW on :
Press Release Source: Stinger Systems, Inc.
Taser Loses Right to Enforce Its United States Patent 5,936,183 Thursday January 10, 9:15 am ET United States Patent and Trademark Office Refuses to Reinstate Patent
TAMPA, Fla., Jan. 10 /PRNewswire-FirstCall/ -- Stinger Systems, Inc. (OTC Bulletin Board: STIY - News), a leader in electro-stun technology today announced that Taser's patent 5,936,183 is cancelled. On advice of its attorneys James McNulty and Leonard Tachner, Stinger Systems, Inc. filed on December 21, 2007 with the Commissioner of Patents a request for reexamination of Taser International, Inc.'s (Nasdaq: TASR - News) intellectual property. Stingers allegations against Taser in federal case CV-07-0042-PHX-MHM, Taser's patents 6,626,412, 7,075,770 and 7,234,262. ADVERTISEMENT
Research for this valuable and formerly patent protected technology for a much touted non-lethal alternative to the anti-personnel land mine was funded by the United States government and undertaken jointly with the General Dynamics Corporation.
Robert Gruder, C.E.O. of Stinger Systems, Inc. commented, "Stinger's attorneys advise that Stinger may rely on this abandonment to develop and manufacture its own versions of this non-lethal land mine technology. With Taser's losing its right to enforce its patent for this valuable technology, Stinger is now seriously evaluating competitive entry into the industry and market for non-lethal landmines."
ABOUT STINGER SYSTEMS
Stinger Systems, Inc., a leading provider of electro stun technologies, develops and sells a broad array of products utilizing advanced electro sparc- pulsed technology to police, corrections, and security sectors worldwide. http://www.stingersystems.com.
FORWARD-LOOKING STATEMENTS
This announcement contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The forward-looking statements are based on Stinger Systems' current intent, belief and expectations. These statements are not guarantees of future performance and are subject to certain risks and uncertainties that are difficult to predict. Actual results may differ materially from these forward-looking statements because of the risks described in Stinger Systems' filings with the Securities and Exchange Commission. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of today's date. Stinger Systems undertakes no obligation to update or revise the information contained in this announcement whether as a result of new information, future events or circumstances, or otherwise.
Posted by TimW on :
How many more patents are they going to invalidate as they examine them?
Anyone care to guess? Ill wager three TASER patents are down the drain and the lawsuit is reversed on TASER.
Posted by TimW on :
Closing price...
$1.52, +14.29%
Doesn't look like taser's rebuttal had much strength.. They get called out on a legal limb and can only trash talk back.. tsk tsk tsk.
Fear...
Posted by TimW on :
Slid about 10%, but definetly not the low of day.
Posted by TimW on :
Took a beating last couple days... but yet another story pops up.
Hired gun paid big to shock sales Stinger Systems is counting on ex-cop Richard "Bo" Dietl's influence. By SCOTT BARANCIK, Times Staff Writer Published January 15, 2008
[Handout] Richard "Bo" Dietl says he will promote Stinger's stun gun on radio and TV, where he frequently appears. --------------------------------------------------------------------------------
Business News Video
Which company boasts the Tampa Bay area's highest-paid board member?
Forget about giants like Tech Data Corp. and Jabil Circuit. The most generous public firm locally may be Stinger Systems, a Tampa stun gun maker that welcomed director Richard "Bo" Dietl last week with options to purchase 1-million shares of its stock at just 20 cents per share. Sale of the stock at Monday's closing price of $1.20 per share would earn Dietl a cool $1-million profit.
Stinger is an unlikely standard-bearer for corporate excess. The troubled eight-person company lost $4.5-million in the third quarter on revenue of just $48,000. Its chairman and CEO, Robert F. Gruder, earned a relatively paltry salary of $250,000 in 2006. Two prior board appointees received options to purchase just 20,000 shares of stock apiece.
But if his first week on the job is any indication, Dietl - an ex-New York City homicide detective whose autobiography was turned into a Hollywood movie - may be worth his pay. On Monday, the voluble 57-year-old used an appearance on Don Imus' radio program to accuse stun gun leader Taser International of faking test results and offered the Scottsdale, Ariz., firm $100,000 to submit to a "fair" side-by-side test. Shortly before that, Dietl said, he and Los Angeles police Chief William Bratton attended a demonstration of Stinger's stun gun at the Los Angeles police academy. Dietl, who vowed to hold his Stinger stock for the long term, promised to promote the company during his frequent appearances on Fox News.
"Oh, I'm going to be everywhere," he said. "I want to see every police officer have a Stinger."
Stealing market share from industry leader Taser will not be easy for Stinger, which did not respond to interview requests Monday. Its 2006 revenue of less than $500,000 was dwarfed by Taser's $67.7-million. But Dietl claims Stinger's stun guns are as good as or better than Taser's at just half the price. The companies are fighting in federal court over mutual charges of patent infringement and false advertising. But the message could prove to be an effective marketing tool with police chiefs, with whom Dietl is notably chummy.
"I'm not in it to make the stock go higher without building a foundation of sales," he said.
Times researcher Carolyn Edds contributed to this report. Scott Barancik can be reached at barancik*sptimes.com or (727) 893-8751.
Posted by MCJA on :
UP 16% early
probably going to retrace back a little, but looking good for today
Posted by TimW on :
Yep.
First day in awhile everything in my account shows green.. LoL
Very low volume but lets hope it continues.
Posted by ullnvrknw on :
Looking real good. News must be coming
Posted by TimW on :
Just noticed the strong close today. Impressive.
Posted by Lockman on :
Was down most of yesterday but rallied back to opening position. Could take off anytime, the pending lawsuit could be keeping money away. Time will tell but I think this is going to be big. jmo
Posted by TimW on :
Holy *sh* no news or anything today and it just hit hard.
Down 50% out of the blue on five times volume.
Might be like the last time they hit it hard and it recovered quick.. who knows.
Posted by trade04 on :
quote:Originally posted by TimW: Holy *sh* no news or anything today and it just hit hard.
Down 50% out of the blue on five times volume.
Might be like the last time they hit it hard and it recovered quick.. who knows.
under SEC investigation
Posted by Lockman on :
Wow I almost jumped into this I wanted to see how it traded the first hour or so. And then crash. What did they do?
Posted by retiredat49 on :
quote:Originally posted by trade04:
quote:Originally posted by TimW: Holy *sh* no news or anything today and it just hit hard.
Down 50% out of the blue on five times volume.
Might be like the last time they hit it hard and it recovered quick.. who knows.
under SEC investigation
Where is that news coming from? Got a link?
Posted by Bottomfeeder on :
Dow Jones news wires.I dont know if it is a website or not but try there.
Posted by retiredat49 on :
I did...not finding anything
Posted by TimW on :
I have been looking for 2 hours and havent found anything. Just message boards full of the usual rumors.
Posted by Bottomfeeder on :
I use scottrade and did research thru that site. But the show using statements to mislead law enforcement about radar guns that were still in R+D and not complete.Probably sold to Ohio.
Posted by trade04 on :
yea dow jones news on my news streamer. the company has still not posted it yet suspiciously.
Posted by TimW on :
I think im going to hold through this. Just a fishy thought that its already taken the beating of this news. Its nothing really new, just a action on what happened two years ago... the stock price already reflected that and sunk back then.. everyone already knew this happened, so no big surprise now.
Im not sure what the stock price will do now, but seing how i woke up and it was already this low.. and its not a huge chunk of my portfolio, ill hold her through.
Bummer for now.
Posted by trade04 on :
i dunno kind of risky tim, if i were u id sell until stiy gives some sort of counter statement
Posted by retiredat49 on :
I disagree...I just went in at .52 Don't see this as anything new or affecting the company...just the CEO
Posted by retiredat49 on :
Stinger Systems Comments on SEC Case Last update: 1/29/2008 1:59:00 PM TAMPA, Fla., Jan 29, 2008 /PRNewswire-FirstCall via COMTEX/ -- Stinger Systems, Inc. (STIY), a leader in electro-stun technology, today announced that the SEC filed a complaint against the company and Robert Gruder, its Chief Executive Officer. The allegations in the complaint relate to the same subject matter of the previously-disclosed SEC investigation involving events in 2004 and 2005. The allegations in the complaint do not relate to Stinger's current stun-gun product. The Company is obviously disappointed in this development, but it intends to vigorously defend itself in court and is optimistic that it will prevail. Mr. Gruder commented that "I do not believe I committed securities fraud. In fact, I have invested approximately $1.5 million of my own money to keep Stinger Systems going through tough times, which I believe demonstrates my faith in the Company and its products."
Posted by kennethray on :
HEADLINE NEWS:
Az. based Taser Intl. to give away thousands of rival stun gun maker Stinger Systems product to NY GIANTS fans attending the superbowl. Thousands killed. Stock drop like twin towers. Tootsie Roll to hand out suckers to stockholders looking for $1.70. lol
Posted by kennethray on :
serious guys dont get to greedy take some profits when you have them, live to play again.
Posted by trade04 on :
ceo commited securities fraud "I do not believe I committed securities fraud. In fact, I have invested approximately $1.5 million of my own money to keep Stinger Systems going through tough times, which I believe demonstrates my faith in the Company and its products."
ok sure we will buy that u believe this company has a future, but maybe you mistakingly commited fraud, or your playing dumb
Posted by ullnvrknw on :
Not crazy about the ceo's statement...Bought at .55 and sold at .63...Been flat for 2 weeks now
Posted by Lockman on :
If everyone knows about this lawsuit from 2004-2005 why did the pps drop 75%. It's going to be interesting to see if money flows back.
I personnally have bet on enough crap in the last year and don't need another headache.
Posted by retiredat49 on :
A lying CEO doesn't bother me at all...almost all CEO's on the OTC or pinksheets are lying SOB's Looks like a buying opp to me
Posted by Lockman on :
quote:Originally posted by retiredat49: A lying CEO doesn't bother me at all...almost all CEO's on the OTC or pinksheets are lying SOB's Looks like a buying opp to me
You're probably right. I'm gonna wait until tommorrow and see how the day ends. GL
Posted by TimW on :
LoL The CEO comment just reiterated what I already thought. This is old news, just finally having some action on it. Does not apply to their current product line and certainly their PPS is no longer the hyped up $40 so woopty.
Ill sit it through. If we get a new CEO so be it. I bought this one thinking their stun gun would take off, not that they have a good CEO.. Every company has a ****ty CEO, IMO.
Posted by retiredat49 on :
Stinger Systems Announces Ron Bellistri as Interim CEO Last update: 1/30/2008 11:12:00 AM TAMPA, Fla., Jan 30, 2008 /PRNewswire-FirstCall via COMTEX/ -- Stinger Systems, Inc. (STIY), a leader in electro-stun technology, today announced that Ron Bellistri has become interim CEO of Stinger Systems. Robert Gruder, Stinger Systems' current CEO, will become President and remain Chairman of the Board. Robert Gruder stated, "I'm committed above all to what's in the best interests of the Company and its shareholders. I have invested substantially in Stinger Systems and have been dedicated to making it the leader in stun technologies. I believe that the Company can be best served by moving forward without distractions and continuing to focus on its mission of striving to be the best at what we do. Therefore, in light of the case filed recently by the SEC, I will step down as CEO while that matter is pending. Ron Bellistri has a great track record in building a world class company, and since he came aboard as Executive Vice President, my confidence in him has only increased."
Posted by trade04 on :
interim ceo? old ceo is bailing the coutnry? lol
Posted by TimW on :
Whatever makes the company move forward and or stock price goes up. Robert Gruder can turn gay and lick a clowns butt for all i care.
Looks like he's handling things in a timely manner and the stock price rebounded a little bit so YAY.
Posted by trade04 on :
quote:Originally posted by TimW: Whatever makes the company move forward and or stock price goes up. Robert Gruder can turn gay and lick a clowns butt for all i care.
Looks like he's handling things in a timely manner and the stock price rebounded a little bit so YAY.
sounds like wha thappened to cshd, sec comes knockin, and ceo is booted
Posted by MCJA on :
SEC Zaps Stinger By Seth Jayson January 30, 2008 3 Recommendations The year is young, and it's a good time to check in with old familiar faces. Today, let's catch up with Stinger Systems (OTC BB: STIY.PK), the would-be competitor to TASER (Nasdaq: TASR). I say "competitor," but back in late 2004, when I started looking into Stinger and its CEO Robert Gruder, I believed I saw something else: an opportunistic coattail-rider with no real product, not much cash, and a suspiciously hyped-up story.
After a bit more digging, I soon found out that in the past, Gruder had cratered high-flying, headline-grabbing tech companies after his big promises turned flat. Investors got hammered, and I figured the same would happen with Stinger. (Stinger actually sued me and The Motley Fool for publishing those articles. The lawsuit was later dropped.)
For those who don't remember, the stock initially roared out of pennyland into a half-billion-dollar market cap. Its rise was fueled by a string of press releases that looked misleading to me, if not patently false.
Apparently, the SEC agrees. This week, after a long investigation, it finally filed a lawsuit against Stinger and Robert Gruder. The SEC says that Stinger made "a series of material misrepresentations and omissions regarding Stinger's 'flagship' stun gun product," as well as the company itself, including misrepresentations about the gun's production and availability, an Alcohol, Tobacco and Firearms "certification," and that Stinger traded on the Nasdaq.
Perhaps the most damning of all the SEC's charges (PDF file) is this excerpt:
Although Stinger and Gruder constantly emphasized the superiority of its technology and product, in reality, it appears that: a) the patent that covered the stun gun technology had been offered to, and rejected by, several companies, including Smith & Wesson, prior to being purchased by Gruder; and b) the technology at the core of Stinger's stun gun was actually 20-years-old and had been abandoned by a number of companies, including Stinger's primary competitor, Taser International, Inc.
Let's try to summarize. The SEC is alleging that Stinger's stun-gun technology is old and unwanted in the industry, and that the CEO, Robert Gruder, made a series of misstatements about that technology, the product, and the company itself. That sounds pretty familiar to me.
Gruder's public response to the charges? "I do not believe I committed securities fraud..." (Read the rest.) The $1.5 million that Gruder invested in Stinger, which he cites in his own defense, is a mere fraction of the shareholder capital his company has torched. As of September, Stinger had a retained deficit of more than $30 million.
As far as protecting investors, I think the lawsuit could not have come at a better time. Gruder and Stinger have been amping up the PR machine again, releasing a spate of press releases touting Stinger's hiring of celebrity cops and attacking TASER. Stinger's share price has popped as a result of these releases.
Still, I don't think the company's PR can change the fact that Stinger is selling too few of these guns to cover its costs, nor that its financials are a shambles. As of September 2007, the company had a mere $4.2 million in total assets, with $2.1 million comprising "intangibles." Liabilities stood at $5.6 million, and the company had negative free cash flow of $2.8 million over the trailing 12 months. Those figures suggest a company that's not long for this world -- unless it can create some buzz, and find some investors to pour in more cash.
Alas, the SEC's lawsuit seems likely to convince potential saviors that neither Gruder nor his product can be trusted. As before, individual investors would do well to avoid Stinger altogether. I believe, as before, that it's one of the rare companies in the market with an actual value of zero.
A few blasts from the Foolish past:
Posted by MCJA on :
OLD ARTICLE
Stinger's Scary CEO By Seth Jayson (TMF Bent) January 26, 2005 4 Recommendations This is for Bobby, who called me a "twerp" after I suggested that Stinger Systems (Pink Sheets: STIY) might not be worth the $400-odd million that investors have recently been paying for the company. See, I feel sorry for Bobby, despite the second and third helpings of rude 'n' whiny email he's sent me. Whinin' Bob's Stinger stock took a big dive over the past couple days, and he thinks it's my fault. If you can trust the cypherin' of a fellow who'll call a stranger a twerp just for stating the facts, Bobby got out with only a 27-bagger. Personally, I think Bobby ought to hold Bobby responsible for Bobby's investing decisions, and Bobby clearly hasn't done his homework on Stinger.
So this is for Bobby, a few more facts. Unfortunately the facts about Stinger are stabbing, venomous things.
Monday, I noted that the firm, which purports to be a competitor to Motley Fool Rule Breakers pick Taser International (Nasdaq: TASR), has yet to ship a single product from its much-hyped new "stun gun" line. I also noted that the folks running the show, including frontman Robert Gruder, purchased the key assets for only $450,000 back in September, paying only $250,000 in cash. (How much you wanna bet that $200,000 note payable gets swapped for some of the newly bloated stock?)
With a razor-thin float, a few well-placed press releases and some critical hype provided by gullible local news teams and penny-stock hypesters, it took only a few months for Gruder to turn this profitless shell game into a half-a-billion-dollar enterprise, at least on paper.
This kind of magic trick is nothing new for Gruder. He's got a long history as a corporate executive. He prefers to make money the new-fashioned way -- by attracting investors and forgoing profits. Trouble is, his companies have an unfortunate habit of crashing and burning, taking investors along for the horrifying ride.
Gruder's greatest hits Gruder is no stranger to the tail end of hot industry trends. In the early '90s it was computer software. Then it was the Y2K bug. In the late '90s, it was tech acquisitions -- paid for by stock, naturally -- and then, in the early 2000s, Gruder's "Holy Grail" was the Internet. For now Gruder's gig is stun guns. He has no history or expertise in the security field. But he does know how to start fast and get out when things collapse.
By my count, Gruder is currently 0 for 3. His first firm, GEM Technologies, declared bankruptcy in 1992, spawning lawsuits that were still being fought years later. (Gruder eventually lost that one, despite a pricey defense paid for by stockholders of his next corporation.) Next was his tenure at a two-time tech loser called Alydaar Software and then Information Architects (OTC BB: IACH). You may gain some idea of Mr. Gruder's management prowess by considering that IA now trades over the counter for 20 cents a stub, having hit a hype-heightened, split-adjusted, $160 per share at one point.
Mr. Switcheroo Both Gruder and the companies he runs have short attention spans. His background is finance, which might explain his habit of building things from complex, constantly-shifting shells. IA began as an empty vessel called Enertronix, which then merged with a corporation called Daar, which brought its rudderless enterprise to North Carolina and renamed it Alydaar. When I say rudderless, I'm not being poetic. This was a firm with no direction, literally.
Alydaar Software, (formerly Nasdaq: ALYD) first tried to sell software-translation services, the kind of thing sometimes referred to as "porting." According to a hair-raising mini biography in the Charlotte Business Journal, Gruder began the business with no product and no plan, just a promise to customers to translate their software from one platform to another.
In the mid '90s, after securing some venture capital, the firm relocated to New Orleans where he and the programmers "were eating and drinking and having a hoot" but producing little revenue and no profits for shareholders.
Shortly after moving his business to New Orleans, Gruder decided the real focus ought to be the horrendously over-hyped "Y2K bug." In 1995, he moved the company back to North Carolina and began trying to sell its new wares, including via public predictions of computer-inspired nuclear Armageddon. (Alydaar even went so far as to enlist a member of British Parliament to try and force legislation requiring every company in Britain to hire a Y2K consultant. Alydaar's personal MP told his countrymen that without solutions like Alydaar's, everything up to and including "nuclear power plant cooling" would be at risk.)
By 1998, Y2K consulting had brought in a reported $27 million in revenues, but there were still three obvious problems. First, the firm was horribly overpriced by any valuation metric. Next, if there were ever a business with a short shelf life, Y2K consulting in 1998 would be it. Finally, the firm was a complete money pit for investors, turning in continual losses and staying afloat only by churning out more shares.
That didn't stop Gruder from holding out the PR-borne promise of earnings just around the corner. The worst of these mini-scandals came when he predicted black on the bottom line for March 1999. Two weeks later an "accounting error" that totaled an incredible 7% of revenues erased that happy prediction and launched a shareholder suit.
"We didn't do anything illegal," Gruder told the Charlotte Business Journal. "It wasn't an Enron thing." Interesting denial, considering that the firm's shares ended up just as worthless and, as you'll see below, Gruder shared the Enron execs' passion for cashing in personally on complex, poorly-disclosed, related, outside enterprises.
When it became clear that the Y2-gravy train had left the station, Alydaar underwent yet another costume change. In 1999, Gruder swapped $750,000 worth of company stock for a piece of software that was later named "Jitzu." It purported to allow Web users to create their own portal pages, but it didn't fly. In the end, Gruder gave up on the firm only a few months after he whined that ".shareholders are merciless and the majority of them are cowards that hide behind the chatboards."
Keep those last two bits in mind, since contempt for shareholders and slippery maneuvers are, shall we say, continuing themes in Gruder's career. And you don't need to dig up one of his foot-in-mouth interviews to see writing on the wall. All you need to do is read the financials.
Little shop of horrors After only a few days of sorting through Gruder's public filings, it's clear that there's enough here to warrant a long and scary book, and maybe even a few raised eyebrows over at the SEC. I'm going to gloss over the myriad examples of insiders dipping their hands in the till. These sleazy but legal grabs included: millions in lease payments to Gruder's outside real estate partnership, forcing Alydaar to cover his legal fees from lawsuits resulting from his prior activities, the way management repriced options after their failures caused the stock price to tank -- that kind of thing.
Instead, I'd like you to consider just one especially sketchy deal. The following analysis probably makes me one of Gruder's "chatboard cowards," but here's hoping everyone who reads this is cowardly enough to keep his hard-earned moola out of Gruder's clutches.
A thick London fog According to Alydaar's 1997 10K, in July of that year, the firm -- which was under Gruder's complete control -- purchased a London-based outfit called Alydaar International. It's only by reading the attached contracts that you find out the business was bought from a firm called Chase Technology. Alydaar International had zero in the way of hard assets, as evidenced by the fact that the entire $6.7 million purchase price was booked as Goodwill.
There are three things you need to remember about this deal to truly appreciate its magnitude. First, the $6.7 million purchase price. Next, the $390,000 worth of common stock that Gruder personally pocketed as a result of the transaction -- a fact buried deep in the page count of the filings. The final and most suspicious bit is Alydaar's statement that "The Company [Alydaar U.S.] had no equity interest in International prior to the acquisition."
That's an odd contention -- possibly even an outright lie -- given that Alydaar International is a company that Alydaar had co-founded only a few months before.
The details get confusing. (Raise your hand if you think things were arranged that way on purpose.) So, try to stick with me here.
A March 1997 SEC filing describes Alydaar's 45% interest in a new London joint venture called Alydaar Software Europe. It reportedly had "no activity" as of Dec. 31, 1996 . A later filing notes that Alydaar hadn't even bothered to pony up its $75,000 share of the startup costs. From this tidbit, we can calculate the venture's worth: $166,000.
Oddly enough, the name of the firm's UK partner doesn't appear in any of its filings. (Why do you suppose they left that out?) Fortunately, the name of Alydaar's UK partner does appear in a November 1996 press release that somehow never made its way to the SEC. Turns out, Alydaar's partner was one Chase Technologies. Yup, that's the same firm that sold the London company to Alydaar U.S. only eight months later for $6.7 million dollars.
Now, there are three possible explanations for Alydaar's claims that it had no equity interest. The first is that Alydaar just plain lied. Let's assume that didn't happen. The next is that it somehow divested itself of its 45% share. The final possibility is that Alydaar simply never paid its portion. In any event, at some point -- we don't know how or when or at what cost -- Gruder became personal stakeholder in the venture.
What's crystal clear to me is that shareholders were completely fleeced. Alydaar started a subsidiary for $166,000 then bought it from itself -- or closely related insiders -- less than a year later for 40 times the original price.
Keep in mind, that $6.7 million was equal to 62% of Alydaar's entire revenue stream for 1997. It's impossible to imagine that an asset-less, 7-month-old London upstart with no activity was worth anywhere near that amount.
Why the giant price tag? Your guess is as good as mine, but my guess is that Gruder's $400,000 personal take had a lot to do with it.
Apparently, nailing existing shareholders with this scheme wasn't enough. Gruder added insult to injury in the most literal way when, in the July 1997 10Q, Alydaar had the audacity to claim that this stagnant, 7-month-old subsidiary would contribute "at least" $0.50 to earnings per share in 1998 and $1.00 to earnings per share in 1999.
Of course, in the end, there never were any earnings per share. Alydaar produced nothing but losses for common stockholders, both on the financial reports and in the market. Within a couple of years the majority of Gruder's London purchase was written off in Alydaar's enormous, post-Y2K accounting bath.
Getting rid of the stinger Do I even need to write the moral of this story? The $363 million market cap assigned to Gruder's latest pet, Stinger, is ludicrous on its face. Let's repeat the obvious, just in case anyone missed it.
Gruder bought the whole shebang for $250,000 cash plus a smaller IOU only a few months back. The firm has no sales to date of its stun gun, and trailing sales of its other products come to $200,000. Gruder's stun gun has no track record for effectiveness, reliability, or safety. Gruder's gunpowder-charged device is classified as a handgun, meaning that any attempt to market a civilian model would face significant regulatory hurdles. So, against tough competition from cop-favorite Taser, what is Gruder's unproven upstart really worth? Do you really think police departments are going to save a few bucks on a cheaper, copycat latecomer when their lives may be on the line?
Even if you could put a rational figure on the potential market of Gruder's stun gun, the final tally for the company would depend on your discount for bad management. Gruder has run all his companies directly into terra firma, and he's made plenty of shady deals on the way into the deck. Personally, I wouldn't give you pennies for this stock. Coincidentally, that's what it was worth only a few weeks back, before Gruder bought an idea for a song, then issued a thin float and chorus of press releases.
Posted by retiredat49 on :
Wow...long disgruntled post...I'll keep mine short and sweet...bought yesterday at .52 sold today at .80 Posted by TimW on :
about the motley caps articles
"TASER is a Motley Fool Rule Breakers recommendation. "
And yes, i almost too compared this to CSHD.. The only difference is Stinger is responding quickly and professionaly.
As always though, keep your $ protected. I dont have enough in this to cry like cshd if i lost it.
The news and SEC case is old, I already read up on it before investing in the first place.. thats why their stock tumbled years ago was this news. They since have developed a new technology and product that I believe is good.
This belief might cost me money, but thats what investing is all about!
Posted by MCJA on :
Good close and a very bullish chart for next week.imo
Posted by MCJA on :
looking good
Posted by ullnvrknw on :
TAMPA, Fla., Feb. 11 /PRNewswire-FirstCall/ -- Stinger Systems, Inc. (OTC Bulletin Board: STIY - News), a leader in electro-stun technology today is announcing that it has engaged the services of H.P. White Laboratory, Inc., one of the nation's premier ballistic testing facilities, to conduct a thorough test of the Stinger S-200 projectile stun device and the Taser X26 device. Part of the analysis will be a live demonstration performed in the City of New York at the offices of Beau Dietl & Associates, One Pennsylvania Plaza on Monday, February 11, 2008. ADVERTISEMENT
Attending this demonstration will be individuals representing the law enforcement community from the Northeastern region including numerous local and state agencies. Agencies acknowledging attendance include from New York; the NYC Police Department, NYC Corrections Department, Correction's Officers Benevolent Association Nassau & Suffolk County Police, Nassau & Suffolk County Sheriff's Department, Scarsdale, Eastchester, Southold, Elmsford and Quogue Police Departments, the NYS Police and NYS Commission of Corrections from New Jersey; Passaic County Sheriff, Patterson and Clifton Police Departments and the NY NJ Port Authority Police Department. In addition representatives from the Norfolk Police Department and the US Marshall's and Secret Service have acknowledged their attendance at this demonstration.
The Company anticipates quantifiable results of a new medical study comparing electrical charges into the chest of the Taser International brand stun weapons to the Stinger S-200 which, in the Company's opinion, can better equip the law enforcement community with state of the art technology.
H.P. White Laboratory, Inc. was founded in 1936 by Mr. Henry Packard White as a ballistic research and development facility. Since that time, it has become one of the leading privately owned laboratories engaged in small arms and ammunition research, development and testing. H.P. White Laboratory, Inc. produces no manufactured item and is in no manner affiliated with any other research organization, manufacturer, agency or end product user. HP White is considered one of the only truly independent ballistics laboratories in the United States.
Posted by ullnvrknw on :
Starts at 11...Could move big time from here with such a low float
Posted by MCJA on :
1.14 and looking strong up 30%
Posted by TimW on :
Semi-impressive.
Lets hear those results later today/tomorrow.
Posted by ullnvrknw on :
I believe the results are in already and they just want to make this a public event to show everyone that its a better stun gun. I expect another announcement for sure either today or the am tomorrow
Posted by ullnvrknw on :
Here see goes again
Posted by ullnvrknw on :
HOD...No doubt in my mind we will be testing $2 by end of week
Posted by TimW on :
No doubt here either... Bo was just on fox news. We got the best independent study comparing the two.
We shall see!!
Posted by ViperZ on :
Any word on todays study. With all the law enforcement present I'm surprised we didn't hear anything.
Posted by ullnvrknw on :
Im sure they will be coming out with a pr around 9 again today
Posted by ullnvrknw on :
TAMPA, Fla., Feb. 12 /PRNewswire-FirstCall/ -- Stinger Systems, Inc. (OTC Bulletin Board: STIY - News), a leader in electro-stun technology today announced that the Washington State Department of Corrections will standardize electro stun technology using Stinger Systems' products. Presently, the Washington DOC uses the Stinger's Band-It prisoner restraint system and the Ice Shield crowd control shield. The Department will now phase in the Stinger S-200 stun gun as a replacement solution. The Department plans to purchase as soon as the first quarter of 2008. ADVERTISEMENT
"Department staff who have evaluated the S-200 found it to be rugged enough and the best stun product suited for use in the correctional setting. WA DOC has been very pleased using Stinger's other electro-stun products and desire to continue with a vendor we know that supplies a reliable product," a WA DOC spokesman stated.
Stinger Systems provides electro stun products to many of the Department of Corrections facilities in the United States as well as the US Marshals and the Federal Bureau of Prisons
Posted by ullnvrknw on :
Bargain prices for what looks like a trend of sales about to begin.This could really end up being a homerun of all homeruns...Time will tell
Posted by MCJA on :
I think she's going to pull back tomorrow
Posted by ullnvrknw on :
The way this company works, there will be more news all week
Posted by ullnvrknw on :
Here we go, as i perdicted..
State of New Mexico Awards Stinger Systems Purchase Contract for S-200s Wednesday February 13, 8:55 am ET
TAMPA, Fla., Feb. 13 /PRNewswire-FirstCall/ -- Stinger Systems, Inc. (OTC Bulletin Board: STIY - News), a leader in electro-stun technology today announced that the State of New Mexico has awarded Stinger Systems a general services contract. The contract stipulates a locked in price of Stinger S-200 projectile stun guns for one year. All law enforcement agencies throughout the state of New Mexico will be able to purchase under the guidelines of the general services contract
Posted by MCJA on :
Thats pretty vague,
It sounds like they just agreed to a price.
Are they the only electro-stun gunn that can be purchased or is it a choice between TASR and Stinger?
Can't they give a projected sales based on the total of electro-stun guns purchased by the State of New Mexico last year?
This is a weak PR imo
Posted by MCJA on :
1.24 now,
looks like I'm the only one that thought it was a weak PR.lol
Posted by TimW on :
Generally speaking I take it as a weak PR. None the less, its a positive weak PR. Posted by MCJA on :
That PR isn't going to help, this is in a downward trend according to the charts.
My guess is she will back peddle to 1.00 on light volume, before the next run.
Posted by Lockman on :
quote:Originally posted by retiredat49: Wow...long disgruntled post...I'll keep mine short and sweet...bought yesterday at .52 sold today at .80
I like how you played this. Recognized the opportunity and worked it. congrats.
Posted by retiredat49 on :
quote:Originally posted by Lockman:
quote:Originally posted by retiredat49: Wow...long disgruntled post...I'll keep mine short and sweet...bought yesterday at .52 sold today at .80
I like how you played this. Recognized the opportunity and worked it. congrats.
My sig says...
Posted by T e x on :
and comedy, too?
Posted by MCJA on :
This is going to dip around .90.imo
Posted by TimW on :
Im looking for a low of .97 and high of 1.70 this week. There will be some PR on some good news. Posted by TimW on :
Research Group at a Major US University Completes Study Comparing Peak Current Levels of the Stinger S-200 to Taser M-26 and X-26 weapons
Tuesday, February 19, 2008
Research Group at a Major University Completes Study Comparing Stinger S-200 Model Weapon to Taser M-26 and X-26 Weapons
Study demonstrated that the S-200 delivers appreciably less electrical current to the animal than either the Taser M-26® or X-26® models
TAMPA, Fla., February 19, 2008, Stinger Systems, Inc. (OTCBB: STIY), a leader in electro-stun technology today announced that a research group at a major U.S. University has completed a study comparing the output of the Stinger S-200 projectile stun gun to the Taser M-26 and Taser X-26 in an animal model. Details of the study are being withheld pending scientific publication. However, among other findings, the peak current of the Taser brand X-26 was approximately 75% higher than the peak current of the Stinger S-200, and the peak current of the Taser brand M-26 was approximately 750% higher than the peak current of the Stinger S-200 peak current of the S-200. The Company believes that a reduction in current may be possibly important from a safety perspective, when one or both of the probes strike the chest of the subject. Further research will test whether this reduction in delivered current translates into a safer device. Since the S-200 effectively disables with lower current, Stinger intends to move to have this study accepted into evidence at trial of Case CV-07-0042-PHX-MHM, that is Taser International, Inc (NASDAQ:TASR). v. Stinger Systems, Inc
Ron Bellistri stated “The Stinger S-200 has demonstrated comparable knock-down power to the Taser devices. We now have independent data from a premier university that confirms that the S-200 achieves this level of incapacitation while delivering peak current levels to the animals that are only a fraction of the levels delivered by the Taser devices. Current is what is dangerous, even Taser acknowledges that fact in their sales literature (page 15 of their sales brochure quotes ‘It’s not the volts, but the amperes that matter for electrical safety). ”
Posted by retiredat49 on :
Simple electronics...voltage doesn't kill, current does....but...amperage is determined by resistance....the lower the resistance, the higher the current....
A 9 volt battery can kill a human with very low resistance.
Posted by BooDog on :
I'm surprised to see such low volumes here. Sept - Dec trend scaring people off?
Posted by TimW on :
I'd bet the SEC investigation and pending lawsuit with TASR is partly scaring people off, but im no genius.. LOL
This is a highly speculative play, but the reward if it succeeds will be substantial.
Low activity also shows no one is in any hurry to get rid of the shares.
Posted by ViperZ on :
This will scare people.
Department of Justice Study Evaluates Electronic Control Device Technology; Report Obtained Through FOIA Request Supports Superiority of TASER Devices
SCOTTSDALE, Ariz., Feb 20, 2008 (*********wire via COMTEX) -- TASER International, Inc. (Nasdaq:TASR), the market leader in advanced electronic control devices (ECDs), today announced that it has obtained a copy of the draft final report dated January 25, 2008 of a U.S. Department of Justice funded study titled: "A Qualitative & Quantitative Analysis of Conducted Energy Weapons: TASER X26 vs. Stinger S200" through a Freedom of Information Act (FOIA) request to the National Institute of Justice. According to the report, the purpose of the study is "to objectively evaluate both the TASER International and Stinger weapon systems. This is accomplished by evaluating the performance, safety, and reliability of both products." (p. 10) TASER International will be providing a copy of the report to Stinger Systems pursuant to on-going discovery in its patent infringement litigation, "TASER International, Inc. v. Stinger Systems," in the U.S. District Court for the District of Arizona, case number CV07-0042-PHX-MHM.
Some of the key findings of the 93-page report are:
1. Lower level of incapacitation when exposed to the Stinger S-200
* "...the majority of people reported a much lower level of incapacitation when hit with the Stinger S200 in comparison to the TASER X26." (p. 6) * "In all cases of TASER deployment, the subjects were immediately incapacitated. However, the majority of people had little reaction when hit with the Stinger S200 while this CED was affixed to them via gator clips." (p. 24)
2. Safety Concerns
* "Further problems existed in that the Stinger cartridges would also discharge little pieces of plastic and metal that could best be described as `shrapnel.' This was noted numerous times in testing as these items constantly stuck the research team." (p. 37) * "Should the user make contact with the cross-bolt switch while the Stinger S-200 is discharging a cycle of current, the user also receives a shock for the duration of the cycle." (p. 74)
3. TASER X26 is a more reliable device
* "A quantitative review of the weapon systems shows greater reliability of the TASER X26 over its Stinger S200 counterpart." (p. 6) * Stinger S-200 "exhibited little constancy" (p. 35) * "...the malfunction rate on the Stinger weapon, which was measured, for the initial equipment, at 47.35%. Many times the cartridge simply would not fire..." (p. 36) * "Should the user make contact with the cross-bolt switch while the Stinger S200 is discharging a cycle of current, the user also receives a shock for the duration of the cycle." (p. 75)
4. TASER X26 is a more durable device
* "... a number of cartridges were dropped from a height of four feet to determine their survivability. None of the TASER cartridges broke during this test; however, fourteen out of the twenty Stinger cartridges were damaged upon impact with a carpeted floor." (p. 7) * "Additionally, a number of Stinger cartridges were broken while still in their shipping container. The blast doors fell off, releasing the wire tether." (p. 68)
5. Stinger's Training Materials contained incorrect information
* "Some of the material was found to be outdated and incomplete, and the instructor advised participants to ignore sections of the handout material where discrepancies were noted." (p. 17)
6. Stinger S-200 probes flew erratically and frequently broke
* "In addition to the erratic spread of the (Stinger) probes, the probes tended to fly in an untrue linear manner and did not penetrate the target as they would often hit the target sideways. Evidence of this was when the barbs bounced off the target and flew back towards the researchers." (p. 36) * "One concern with the Stinger weapon system was that the Stinger S200 probes frequently broke free from their barbs in the target." (p. 6) * "As was the case with our initial volunteer tester, almost every (Stinger) barb broke off in the plastic dummy target." (p. 36) * "In this case, the barbs could not be removed by attendant EMS staff and the subject had to be transported to the local hospital for removal by a physician. Due to an ethical concern about doing harm to the additional volunteer subjects involved in this testing, subsequent testing with all other subjects involved the use of alligator clips." (p. 22) * "The Stinger probes frequently broke off in the target during testing and their removal. During this testing, 52 Probes out of 159 Stinger cartridges broke off in the testing target (32.8%)." (p. 66)
"We are pleased to have a new independent government-funded study which documents TASER technology as being superior in ECD performance," commented Tom Smith, Chairman and Founder of TASER International. "These results are also being confirmed in law-enforcement agencies around the country, such as the Pennsylvania State Troopers and the California Highway Patrol, that have done comparisons and selected the field-proven TASER technology," concluded Smith. A full copy of the study can be found at www.taser.com/research/government_studies/NIJReport.pdf Posted by TimW on :
Ouch.
One thing though this report had already been made public, so im not sure why there a stock price reaction.
The only reason this is in a PR now is because the Patent lawyer for TASER requested a COPY of this report.
Coming from a great English background this is a comparison and contrast paper which is unethically written. It emphasises on stingers failures and downplays the taser failures (such as the probe hitting the instructor being less signficant than the stingers plastic hitting the instructor).
Either way there was not even a reason to PR this, outside of rebuttal to Stinger for stinger's study showing its device is safer and that the TASER killed the animals.
I have a good feeling that it was a huge scare on TASER to make them PR this.
Posted by TimW on :
Regardless of this being a TASER ploy, im officially now nervous. LOL
What will happen.. oh boy oh boy..
Posted by ViperZ on :
I bailed today, sold most, some I couldn't sell. I will wait until all the dust settles. Too much going on. I put my money into PTSH.
Posted by TimW on :
Ah, I dont hold a signifiant amount so im just ignoring the buy/sell button and focusing on a couple others, most my others are big boards like IOC and KEX.
Posted by TimW on :
Taser Notices Intent to Serve Subpoena for Information on Old NIJ Tests in Taser v. Stinger Thursday February 21, 9:15 am ET Fails to Disclose Test Dates in Press Release
TAMPA, Fla., Feb. 21 /PRNewswire-FirstCall/ -- Stinger Systems, Inc. (OTC Bulletin Board: STIY - News) a leader in electro-stun technologies announced today that as required pursuant to Federal Rule of Civil Procedure 45(b)(1), Taser International (Nasdaq: TASR - News) has noticed Stinger Systems, Inc. in Taser International, Inc. v. Stinger Systems, Inc. (Federal Case CV07-0042-PHX-MHM) of Taser's intent to serve a subpoena duce tecum on the National Institutes of Justice for information on its dated tests comparing Taser's model X-26 projectile stun gun to early versions of Stinger's model S-200 projectile stun gun and that the study was commissioned over a year ago. ADVERTISEMENT
In publishing selected portions of the unfinished National Institute of Justice report of the comparison study in a press release yesterday, Taser failed to disclose that this as yet incomplete NIJ report was being updated with information about current versions of Stinger's S-200 projectile stun gun. The study was commissioned in 2005 prior to the S-200 even being designed (http://www.ojp.gov/nij/awards/2005_solicitation.htm).
In the press release, Taser also failed to publish reports of a recent medical research report documenting a scientific comparison of Taser's M26 and X-26 model stun guns and current versions of Stinger's model S-200 stun gun. A new study led by Wayne McDaniel, Ph.D. of the University of Missouri recently showed that the S-200 technology is much different from the Taser brand products. A recent study confirmed that peak amperage (current) by the Taser brand products was approximately 75% higher and 750% higher than the S-200 with the X-26 and M-26 models respectively. Taser International's sales literature states that it is amperage (current) that matters for electrical safety.
Ron Bellistri, acting C.E.O. of Stinger Systems, stated, "The Stinger S- 200 has demonstrated comparable knock-down power to the Taser devices. We now have independent data from individuals from a premier university that confirms that the S-200 achieves this level of incapacitation while delivering peak current levels to the animals that are only a fraction of the levels delivered by the Taser devices."
Robert Gruder continued to state for Stinger, "With its state of the art production models of the S-200 projectile stun gun, Stinger is making inroads into electronic incapacitation device markets. The Washington State Department of Correction recently selected Stinger's S-200 projectile stun gun for purchase over Taser's M-26 and X-26 projectile stun guns. The State of New Mexico has awarded Stinger Systems, Inc. a general services contract for its S-200 product. In my opinion, Taser's actions yesterday and its release of similarly incomplete information by direct marketing to law enforcement and correction agencies considering purchase of the Stinger S-200 projectile stun gun smack of utter desperation to maintain a market for its older and, in my further opinion, less competitive, M-26 and X-26 technologies."
Posted by retiredat49 on :
I am really starting to like this stock...Great for a quick flip.
Stinger Systems Responds to Purported NIJ Study Last update: 2/21/2008 10:30:00 AM Year old study was based on S-200 version no longer sold Earlier comparison studies would be irrelevant, not valid and extremely misleading TAMPA, Fla., Feb 21, 2008 /PRNewswire-FirstCall via COMTEX/ -- Stinger Systems, Inc. (STIY), a leader in electro-stun technology announced today that a segments of a National Institute of Justice Electronic Immobilization Device (EID) study released by Taser International (TASR) is based on a study commissioned by the National Institute of Justice in 2005. At the time of the request for units for the study, the Company was just completing development of its flagship S-200 EID. The version of the S-200 EID that was tested has been discontinued. Documentation from the Company affirming that the S-200 tested is no longer being manufactured had already been sent to the NIJ, but these comments were omitted from the selected information in yesterday's release by Taser International. According to Stinger's Device Master Record of versioning control, the gun tested was based on an earlier release version and Stinger's current model S-200 version is several releases later. The current S-200 has had significant improvements including greater take-down power, new electronics design, and new cartridge and dart configurations. Earlier comparison studies to discontinued devices are irrelevant, not valid and extremely misleading. The Company believes that recent sales wins including the Washington Department of Corrections and the State of New Mexico General Services contract, along with several new domestic and international sales, validate the superior new S-200 technology over its older version. The Company is confused why this release is relevant news considering the EID tested is not even being sold by Stinger Systems. A new study led by Wayne McDaniel, Ph.D. of the University of Missouri recently showed that the S-200 technology is much different from the Taser brand products. Their study showed that peak amperage (current) delivered by the Taser M-26 is 7.5 times the peak current delivered by the S-200, while the peak current delivered by the X-26 is 75% higher than the peak current delivered by the S-200. Taser International's sales literature states that it is amperage (current) that matters for electrical safety. The Company has enhanced many features of the S-200 since its initial introduction. Essentially the only aspect that is similar between the current S-200 and the previous versions is the name. Almost all of the external features of the S-200 such as the basic look of the gun and its great form functions such as a cartridge eject system, recessed cartridge and off the shelf batteries remain. Under the covers, it is a whole new story. Enhancements include new electronics improvements, superior cartridge and dart designs, and new fabrication processes for superior durability. Some of the great improvements can be seen in an outline at . Go to the S-200 products page and click on the "ALWAYS IMPROVING TO CREATE THE BEST EID" link. Further, Stinger Systems recently held a press conference in New York City attended by many police departments as well as press from CNBC, Fox, CBS, and the Associated Press. Several officers along with the Associated Press reporter took direct hits from the S- 200. All individuals taking direct hits confirmed its incapacitation ability. The Associated Press reporter's and some officer hits can be seen at . Additionally, the Company has engaged HP White Laboratories to perform an accurate and current comparison between the Taser brand EIDs and the Stinger S-200. The Company is very confident that the Stinger S-200 will have features that are superior to its competitor, and that is why this commission was engaged to one of the leading ballistic laboratories in the country. Stinger Systems, Inc. (STIY) a leader in electro-stun technologies announced today that as required pursuant to Federal Rule of Civil Procedure 45(b)(1), Taser International (TASR) has noticed Stinger Systems, Inc. in Taser International, Inc. v. Stinger Systems, Inc. (Federal Case CV07-0042-PHX-MHM) of Taser's intent to serve a subpoena duce tecum on the National Institutes of Justice for information on its dated tests comparing Taser's model X-26 projectile stun gun to early versions of Stinger's model S-200 projectile stun gun.
Posted by TimW on :
LoL YEP!
Posted by TimW on :
Some down turns up turns.. etc.
If anyone wants a recap:
This is what just happened in the last week.
Brought a Lawsuit AGAINST Taser. Settled with the SEC on their case, for NO MONEY and NO WRONGDOING.
Im reshuffling my portfolio to add more to the STIY ive been holdind.
Posted by TimW on :
Up 15% today.
Stiy has good news again. and... TASR lost a lawsuit and dropped 10%ish
Posted by TimW on :
Make that .65 today, up 18.18%, on larger than norm volume.
Posted by TimW on :
up tp .72, another 10%
Stinger Systems To Offer Taser Trade-In Program Tuesday June 10, 9:45 am ET Verdict Against Taser International May Concern Law Enforcement Departments
TAMPA, Fla., June 10 /PRNewswire-FirstCall/ -- Stinger Systems, Inc. (OTC Bulletin Board: STIY - News), the leader in electro-stun technology, today announced that it is offering existing law enforcement departments that have purchased Taser brand stun products an opportunity to trade their weapons in for Stinger S-200 electronic immobilization devices in exchange for price concessions.
Ron Bellistri, Stinger's CEO, stated, "In light of the recent $6 million wrongful death verdict against Taser International, we felt we would give law enforcement agencies currently using Tasers a way to get their Taser products off the streets. Studies show that the S-200's waveform places considerably less current into the body than the Taser products. In my opinion, I believe the S-200 is just as effective, yet more humane than Taser. Therefore, for a limited time, Stinger Systems will negotiate buy backs of Tasers from agencies, depending upon their quantity, model types, and age of the Tasers. The buy back price will be credited towards purchases of Stinger S-200's, the most advanced stun technology available."
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