posted
Just hit .0002 for the first time in years. Has it ever hit it before? SC only goes 3 years back.
Posts: 2329 | From: MD | Registered: Jul 2005
| IP: Logged |
posted
It just don't look good anymore. I bailed just in time for no loss.
I would have stayed in if they had given more positive details about the auction. My guess is that they are running into legal problems with ownership of the master tapes. He played hardball with the king of pop, but it looks like MJ may win this round.
Now if the SEC succeeds with the Receivership, things could get worse. The Receiver could destroy the company and leave shareholders out in the cold. I don't think it right, but big government is also corrupt and has more power. Richard A could fight this and may win, but it will most likely be a long process.
I might jump back in if I can buy at .0002 for a smaller lot. USXP may suprise us all.
Posts: 1269 | From: Dallas, Tx | Registered: Mar 2007
| IP: Logged |
quote:Originally posted by oldguy: I don't care what you call me p-coli, just watch the pps go up as usual. this is not the first attack against this stock.
OMG, I just noticed what you did here - you took someone's name and twisted it around into something funny. That is hilarious. Dude, why are you here? You certainly could be a top comedian with all of your talent. And based on your stock picks, I recommend it!
posted
It gets worse everyday for USXP. Just as I suspected, the auction items ownership battle could drag on for a long time. Now USXP may have to pay some of MJ's legal expenses. --------------------------------------------
Jackson Memorabilia Dispute Continues Monday June 25, 6:02 pm ET Dispute Over Jackson Family Memorabilia Continues in Las Vegas
LAS VEGAS (AP) -- A battle over ownership of Michael Jackson memorabilia is headed back to a Nevada courtroom, where the King of Pop is seeking the return of items withheld from an auction of family items.
Jackson's sister, singer Janet Jackson, also is seeking the return of items held back during a May 30-31 memorabilia auction at the Hard Rock hotel-casino in Las Vegas.
District Court Judge Elizabeth Gonzalez ordered 60 items impounded at the Clark County courthouse, the Las Vegas Review-Journal reported Monday, while she sorts out ownership and decides whether to punish the company that brought the items to auction.
Gonzalez scheduled a July 16 contempt-of-court trial after deciding June 12 that Universal Express Inc. of Boca Raton, Fla., violated earlier court orders to withhold some of the more than 1,100 items offered at auction.
L. Joe Coppedge, a Las Vegas lawyer for New York-based Guernsey's auction house, said Monday that the auctioneer had no stake in the continuing dispute and was complying with the court order to deliver the contested items.
"Per the judge's order, we have delivered 35 items claimed by Janet Jackson and 23 items claimed by Michael Jackson, with two in transit to Las Vegas," Coppedge told The Associated Press.
Overall auction sales were estimated at more than $1 million, topped by Michael Jackson's black, military style coat with an "M" crest. Universal reported the jacket fetched $20,400.
Michael Jackson items withheld following a last-minute court battle included a steamer trunk of the pop star's personal effects, his personal collection of Three Stooges photos, sheet music signed by participants in the "We are the World" charity fundraiser, and a piece of Australian aboriginal art that Jackson received in 1987 to mark record sales of his "Thriller" album.
Janet Jackson items withheld included the original certificate of her marriage to singer James DeBarge, high school notes, and script pages from her 1984 appearance on the "Diff'rent Strokes" TV series.
Gonzalez had accepted a confidential settlement May 30 allowing the auction to go forward, but prohibiting Universal Express from "selling, giving, conveying or transferring by any means" the 25 items specified by Michael Jackson's lawyers.
Under the settlement, which had been confidential, Jackson's lawyers dropped their effort to block the auction.
In a June 12 hearing in Las Vegas, the judge ordered the settlement to be enforced, made Janet Jackson a party to the agreement, and ordered Universal Express to pay some of Michael Jackson's legal expenses.
Universal Express lawyer David DeToffol of New York has denied violating Gonzalez's order, and instructed Guernsey's to return the items to Universal Express, court records show.
DeToffol and a Universal Express lawyer in Las Vegas did not immediately respond to requests for comment Monday.
Posts: 1269 | From: Dallas, Tx | Registered: Mar 2007
| IP: Logged |
posted
I will be the first to admit that Mr. Altamore has his hands full with this latest trial. He may not win. Most of us have only invested chump change in this stock. If he loses, oh well. If he wins, great! There is probably a very slim chance he will collect any of the $700,000,000 in judgments. It's been on the books for a couple of years now. I'm willing to wait and see what happens. You can call me whatever name you want. Any micro penny stock is a gamble.
-------------------- It is what it is Posts: 196 | From: Tampa, FL | Registered: Mar 2006
| IP: Logged |
posted
BILLIONS , BILLIONS , BILLIONS OF SHARES OUT THERE, I AGREE IN ONE THING WITH RA THIS POS HAS BEEN SHORTED TO THE DEATH.
Posts: 4112 | Registered: Jun 2006
| IP: Logged |
posted
Shorting was not the problem. Shorts can't make money on strong companies making money. The real problem is they were not making money and they diluted too much, so then it became a short's paradise. If the MJ auction had been a success, that would have turned things around for the company. But RA didn't do the proper research on the items to determine ownership before buying for $5M. Now they face legal problems on this. The sooner they resolve this the better.
Posts: 1269 | From: Dallas, Tx | Registered: Mar 2007
| IP: Logged |
I THINK SHORTS ARE THE BIGGEST PROBLEM WITH ALL THIS COMPANIES JMO, HOW CAN YOU SELL AND SELL AND SELL SHARES "FTD" AND THE PPS STILL GOING DOWN?
Posts: 4112 | Registered: Jun 2006
| IP: Logged |
posted
I was just thinking. Who is buying all the shares? Is it folks who are willing to take a gamble? Does anyone know if any large blocks are being bought? I haven't been keeping track.
-------------------- It is what it is Posts: 196 | From: Tampa, FL | Registered: Mar 2006
| IP: Logged |
posted
stocktrader 2006 says no one smart who owns this stock. If anyone is smart they don't "invest" in any micro penny stocks. If reverse splits don't get you, the scammers will. I have been able to make some money in these kinds of stocks and in particular this one. I have also lost on R/S stocks and scams. But, overall, this hobby has been fun and rewarding. No one would rely on pinks for their retirement.
-------------------- It is what it is Posts: 196 | From: Tampa, FL | Registered: Mar 2006
| IP: Logged |
posted
I don't know if they (the share blocks) exist or not. I was just curious if anyone is selling that has some real money at stake, not just a few bucks, or if anyone is buying large quantities of this stock and if so, why? I'm willing to see if RA can win these court battles. He is very famiiar with the courts and does well litigating.
-------------------- It is what it is Posts: 196 | From: Tampa, FL | Registered: Mar 2006
| IP: Logged |
posted
Although this look like a high risk POS now, things could change. People are still buying just to ride the next wave because a good PR could still cause a run even though it may not last long. Look at UDTT how everyone called it a dilute machine ran by crooks ready to scam, but today everyone forgot about the crooks as it ran on a half-way good PR. So it can happen with USXP also.
Posts: 1269 | From: Dallas, Tx | Registered: Mar 2007
| IP: Logged |
posted
Company is in the red (-$18.8M), multiple lawsuits, negative auction profits. I wonder just where did he get money from to give away. --------------------------------
Universal Express, Inc. Gives MLS Tickets to Make-A-Wish Foundation Thursday June 28, 1:17 pm ET
NEW YORK, NY--(MARKET WIRE)--Jun 28, 2007 -- Universal Express, Inc. (OTC BB:USXP.OB - News) announced today it will be donating season tickets for various Major League Soccer (MLS) teams, worth over $18,500.00, to the Make-A-Wish Foundation. The Make-A-Wish Foundation helps provide hope, strength, and joy to children with life-threatening medical conditions. Through this donation, USXP hopes to help make the lives of those children a little more enjoyable by offering these tickets to attend many of the MLS games this season.
Just a few of the teams that the tickets pertain to are the Kansas City Wizards, the D.C. United, the Colorado Rapids, the Houston Dynamo, the CD Chivas, the Columbus Crew, the New England Revolution, the FC Dallas, the Chicago Fire and more. The tickets comprise of all regular season games, located throughout the nation in various venues.
"Although we often are able to touch the lives of children locally in the South Florida area, we hope that these tickets can grant the wishes of children in need across the nation," said Richard A. Altomare, Chairman and CEO of Universal Express, Inc.
Posts: 1269 | From: Dallas, Tx | Registered: Mar 2007
| IP: Logged |
posted
More bad news. Possible jail time to RA ---------------------------------------------
SEC Files Motion Vs Universal Express Tuesday July 3, 2:26 pm ET SEC Files Contempt Motion Against Universal Express
WESTMINSTER, Colo. (AP) -- The Securities and Exchange Commission asked a district court judge to order Universal Express Inc. Chief Executive Richard Altomare and counsel Chris Gunderson incarcerated until they obey an April court order barring them from being involved in penny stock sales and ordering them to pay $21.9 million.
The SEC, which made the request last Friday, also wants the two in jail until they account for the sale of almost 21 billion shares in unregistered stock issued so far this year.
Arthur Tifford, a lawyer for the New York-based delivery company, Altomare and Gunderson, was not immediately available to comment Monday.
Universal Express in a press release Monday said the SEC's "unwarranted attacks" are an attempt by the commission to clamp down on the company and others who have complained about so-called naked short selling.
Short sellers typically borrow shares to sell them, hoping that they will be able to replace them with shares bought at a lower price later. Trading without a borrowing agreement is called naked short selling.
It all began almost four years ago, when Universal CEO Altomare started blaming naked short selling for his company's failing finances.
By March 2004, investors learned from the SEC that Universal Express, Altomare and Gunderson had illegally sold some 500 million unregistered shares into the market, using erroneous press releases to support the company's stock price.
Universal Express unsuccessfully argued that it could sell unregistered stock under a bankruptcy code exemption.
Earlier this year, a federal judge in the Southern District of New York sided with the SEC, finding that Universal Express, Altomare and Gunderson violated securities registration and antifraud provisions. The judge enjoined the defendants from further violations and barred Altomare from serving as an officer and director of a public company.
According to the SEC, Universal Express has continued, despite the judge's order, to sell billions of unregistered shares into the market.
But the proverbial gig might soon be up for Universal Express, Altomare and Gunderson.
On Friday, the SEC filed a motion for entry of civil contempt, asking federal judge Gerald Lynch to jail Altomare and Gunderson until they both cease selling unregistered stock. The SEC also asked that Altomare remain incarcerated until he obey the order barring him from acting as a director and officer of a public company.
The commission also requested that the judge fine Altomare $220,000 for his failure to resign as an officer and director, as well as fine Universal Express $2,500 for each day Altomare remains as an officer.
According to the SEC, Altomare instructed Universal Express's transfer agent to issue 15.5 billion shares to third parties after the April 2 court order barring him from doing so. The SEC also said in its court filing that Altomare increased the company's number of shares authorized from 22.9 billion to 41.8 billion. The commission also argued that Gunderson was a necessary participant in the stock offering, preparing instructions and opinion letters submitted to Universal Express' transfer agent.
The commission asked Judge Lynch to set a hearing on its contempt motion, as well as a motion it filed late last month to appoint a receiver for the company.
Posts: 1269 | From: Dallas, Tx | Registered: Mar 2007
| IP: Logged |
posted
If they stopped trading, how in the world would RA raise his bail money and lawer's fee.
Posts: 1269 | From: Dallas, Tx | Registered: Mar 2007
| IP: Logged |
posted
The weasel might just get what he deserves IMO He has played his 'investors' for suckers for far too long. IMO I won't be surprised if USXP goes out like a popcorn fart.
-------------------- Making it a little at a time....Now is the time to determine if you are a man or a mouse. Posts: 1543 | From: Ogilvie, MN, US | Registered: Apr 2004
| IP: Logged |
quote:Originally posted by dollar13: Shorting was not the problem
I THINK SHORTS ARE THE BIGGEST PROBLEM WITH ALL THIS COMPANIES JMO, HOW CAN YOU SELL AND SELL AND SELL SHARES "FTD" AND THE PPS STILL GOING DOWN?
Now we know how they can sell and sell and the pps goes down without shorting, just keep issuing new shares above your authorized limit. No one would subspect dilution when you are already at the limit.
Posts: 1269 | From: Dallas, Tx | Registered: Mar 2007
| IP: Logged |