In case you haven’t figured it out, Titan Global no longer trades under the symbol “TTGL”- it now trades under the symbol “TTGLE”, which signifies the company has filed to file its quarterly financial results in a timely manner, and has had to file for a formal extension.
TTGL, despite boasting it will deliver $735 million and $15 million in net profits in fiscal ’08, is behaving as if there is nothing but problems at the Berskshire Hathaway wanna be.
The OTC Journal family has delivered information suggesting their Oblio Telecom division has had problems delivering it’s prepaid minutes to card holders, and there are serious undisclosed problems therein.
In addition, others have suggested the USA Detergent division is closed down for some sort of restructuring- details of which have also not been disclosed.
Here’s my message to management: Disclosure, Disclosure, Disclosure, and for good measure- Disclosure. Perhaps there are some short term challenges- perhaps not.
Either way, the “Not Knowing What’s Going On” is far more damaging to the stock price than disclosing exactly what is going on and how the company is choosing to deal with it.
As if this is not bad enough, now the company is unable to file its Q1 financial statement on time, and has received the dreaded “E” on its symbol- not such a bad thing, but clearly not a good thing.
Next week the company will have to get its quarterly numbers filed and get some disclosure out. I’m pretty sure the market has priced in a worst case scenario, so there’s probably a lot of upside here, but I want to wait for the numbers and associated conference call before forming any opinion. They had better do an open forum conference call- time to start telling investors what the hell is going on.
Hopefully, not another CPNE, but a hiccup on the road to success. We’ll see. It had better be next week.
TTGL seems to have filed their financials Saturday morning. I can see it as a PR in Yahoo finance under TTGLE symbol.
Comments about their numbers? Thanks.
Editor: As of 7AM Pacific, they had not filed- it has to be sometime this week.
transparency! tell whats wrong or right and then act on it… They want to big boys! they need to act like one….
Editor: I couldn’t agree more. Succinctly put. On some sort of rebound, I might just abandon this one. Their conduct is unacceptable in my view. You find out a lot about character when things don’t go well.
This company has all the makings of CPNE . I used to get responses back from Michael Hill when things were going well over their ,but when things started going bad I couldn,t get any response . Now with Titan the same thing has happened as regards communication . My last five messages through phone and e-mail have not been answered . I was actually smart on CPNE and seen the eventual demise and was able too make money . With Titan I thought I had found the opposite , but it seems that I didn,t read this one very well . Hope things turn around but like we all agree with full disclosure we might have been able too make better decisions . How easy is it for you to get hold of management ?? Also I have posted that the settlement with ATT is a net earnings for the first Quarter , Am I correct in thinking that ?
Editor: Right now, all I can do is wait for the numbers to come out. I certainly won’t be hanging around if I don’t hear some very compelling information with regard to the state of their business. I does fell like deja vu all over again in that something negative has happened to the company, but the company is not talking about it. If they don’t deliver total transparency this week, it will be time to move on.
I have had my doughts about the company all a long but you were the one that was say it the best 2.00 stock out there read your blogs I am out. Now may you can tell us about TCGD is this just another transparent company
Editor: I still could be right, but for time being, it sure doesn’t look like it. I’m simply going to wait for the numbers to come out before formulating my opinion.
The Sat Morning financial PR in Yahoo seemed to be for the previous quarter, not this one. Any significance, or reason, for releasing an old financial at this time ?
Editor: It wasn’t released by the company- it was just the news feed picking up on the most current financials. There is no significance at all. Standing by for the update.
JAIL JAIL JAIL I can’t belive people still think they can get away with bsing everyone
Editor: You never know.
What are your thoughts regarding them buying back 1.2 million shares on the open market at an average price of $1.37? Was this just to give us retail investors a glimmer of hope to keep us from bailing or do they really believe in themselves? Your thoughts are much appreciated!
Editor: In light of the recent information that has come out regarding their problems at Oblio, and the restructuring going on at US Detergent, I am going to hold back on making any comments until the numbers come out and the company starts communicating. I’m too much in the dark on this issue. I have been in communication with the largest shareholder, and all I know is numbers are coming out at any moment, and then they will provide full disclosure on everything that is happening at the company. I believe they have made a big mistake- they should have had complete transparent disclosure going on along with the events. In the meantime, I believe the stock is probably sold down to a worst case scenario, and is probably ready to rebound even if the news is viewed as “bad”. I know they really believe in the future of the company, so I bet they will resume their share buy back.
Hello…anybody home????? TTGL posted their numbers on Tuesday 9:04 am and there are no comments or BLOG updates which flabbergasts me. I am half afraid that this is stock that is traded or watched by only half a dozend people…..A 50% drop in quarterly revenue and net income going from $5mill in the black to $$25 Mill (!!!!!!) in the red and there are no comments??? Dear editor, you said you are going to wait for the numbers to comment but I am dying to hear what you are making of this income statement.
Editor: Carl- you misinterpreted what happened. There have been no new numbers posted. Those were the year end numbers picked up by an auto feed on Yahoo. We are still waiting for Q1 numbers, which were due out Jan 15. If they take a lot longer, they will lose their BB listing all together. This is a very distressing turn of events.
-have you had any direct conversation with ttgl managent or mr chance regarding the late filing and oblio acquistions and detergants..if not you think you could try cause there sure as hell not responding to us..i continued to add to my position in ttgl not to long ago because of mr chance and how i felt he was looking out for the shareholders..guess i was wrong..hoping thigns only get better from here
Editor: Seems to me that’s a pretty good speculation. I have been in communication with the largest shareholder. I don’t have any information aside from the numbers coming out any day and the company doing a complete update at the time. This is very distressing, but I believe a worst case scenario has been priced into the stock already.
http://www.sec.gov/Archives/edgar/data/770471/000114420408004826/0001144204-08-004826-index.htm
Editor: Time to dig in.