Titan Reverts: To Old Symbol and Pink Sheets

32 Comments »

1. I thought that they re-instated their business with ATT/ Smarttalk. I guess Planet Direct is just another scam….

   AT&T CORP. v. OBLIO TELECOM, INC.
   Plaintiff: AT&T CORP.
   Defendant: OBLIO TELECOM, INC.

   Case Number: 3:2008cv02768
   Filed: June 4, 2008

   Court: New Jersey District Court
   Office: Contract: Other Office [ Court Info ]
   County: Somerset
   Presiding Judge: Judge Joel A. Pisano
   Referring Judge: Magistrate Judge John J. Hughes

   Nature of Suit: Contract - Other Contract
   Cause: Diversity
   Jurisdiction: Diversity
   Jury Demanded By: 28:1332 Diversity-Breach of Contract

   Editor: Appears to be another nail in the coffin. I’ll look at the quarterly filings to see if anything positive is happening, but it’s a total avoid for me. 

   Comment by Anonymous — 7/18/2008 @ 4:24 pm

2. This company is doing better than you golden company spkl what does that say about your picks

   Editor: All my stocks suck right now, as does the entire market. If you like Titan, buy it. I wouldn’t do it, but that’s just your choice.  

   Comment by Anonymous — 7/16/2008 @ 4:08 am

3. I WROTE:
   The only stock from the whole bunch that I am making money, is TCGD. Frankly, I am not very impressed with your picks or the specificity of your guidence, frankly.
   Too bad.

   YOU REPLIED:
   Editor: Apparently, you didn’t heed my advice on QID which I reiterated many times during the May/June time frame. I predicted the market would go down, and I gave you a great security to profit on during that time. There are more short opportunities coming in earnings season that you will read about. Once we get into August, it will be time to look at some bargains. I predicted this tough market, but it has turned out to be even tougher than I predicted it would be.

   My friend, just like in my real business; it is a common concept that nobody can buy the whole ball of wax; we pick and choose. Unfortunately the choices and accompanying rhetoric on to big a percentage of your stocks seem to always fall short in the long term.
   Michael

   Editor: Of course it appears that way right now as the market is an absolute disaster. Everyone on the long side has really been getting beaten to death since November. This too shall pass and we will get back to making money. Some will be losers, no doubt. Just keep an open mind. You never know. 

   Comment by Michael — 7/11/2008 @ 10:49 am

4. I made some calls and did due deligence, and TTGL should be shooting back in not too long a time.

   Editor: That would be nice. I’ll believe when I see numbers. I also believe it is indeed possible. 

   Comment by Michael — 7/11/2008 @ 4:58 am

5. The only stock from the whole bunch that I am making money, is TCGD. Frankly, I am not very impressed with your picks or the specificity of your guidence, frankly.
   Too bad.

   Editor: Apparently, you didn’t heed my advice on QID which I reiterated many times during the May/June time frame. I predicted the market would go down, and I gave you a great security to profit on during that time. There are more short opportunities coming in earnings season that you will read about. Once we get into August, it will be time to look at some bargains. I predicted this tough market, but it has turned out to be even tougher than I predicted it would be. 

   Comment by Michael — 7/10/2008 @ 1:05 pm

6. right now this company is doing better than efsf so which one is the scam?

   Editor: Why do either of them have to be scams? Why can’t they just both be poorly managed companies that aren’t generating results? It’s not fraudulent to perform poorly. That’s the case. 

   Comment by Anonymous — 6/24/2008 @ 10:27 am

7. You started this blog. You should continue to report even though you have some bitter feelings……………………………………….

   Editor: I wouldn’t describe my feelings as bitter. I’m disappointed. I’m not going to report on it simply because it’s a waste of time if, or until, the company delivers positive numbers. There are much better things to look at. It’s a failure, and for the time being, it’s over. If it shows signs of life, I’ll pick it up again. 

   Comment by Anonymous — 6/20/2008 @ 9:00 am

8. You didnt mention which company was bankrupt, Is it the communications division?

   Editor: I don’t know which company is bankrupt. Could be US Detergent. I really not concerned about the situation anymore. 

   Comment by Anonymous — 6/18/2008 @ 5:02 pm

9. I heard one of the Titan companies have filed for bankruptcy. Can you advise which one and any clue as to why they would do that. Thanks.

   Editor: I’m sure they did that to bankrupt their way out of past debts.  

   Comment by Anonymous — 6/16/2008 @ 1:45 pm

10. http://www.atomicbobs.com/index.php?mode=read&id=211524 maybe this will entertain you more…

    Editor: Kind of a neutral article. Personally, I don’t think these guys are crooks. They just screwed up, and are now trying to turn things in the right direction. It happens. Who knows if this thing is going anywhere. I have some new ideas coming which will make this one look stupid when it was at its best. 

    Comment by Anonymous — 6/10/2008 @ 1:16 pm

11. I am glad their prices are going up… Atleast it would be worth suing these crooks…. and maybe send them all back to the half house once again.

    Editor: Thanks for the highly intelligent contribution. Very useful and informative. What is a half house? 

    Comment by Anonymous — 6/9/2008 @ 2:47 pm

12. Everyone seems united in the view that this company is horribly mismanaged and that the stock is on the road to oblivion…so why is it going up?

    Editor: Probably because the stock is so blown out that a little volume takes it back higher temporarily. Maybe it’s a buy at $.30. For my money, I’ll avoid it until numbers improve. 

    Comment by Ron — 6/4/2008 @ 7:56 am

13. I believe these clowns should just go stop putting out any more releases and enjoy the 17M that they have pocketed from their vendors on the communications side. They cant even afford to register a domain and had to hold the domain hostage with their communications division VP till they paid him his travelling expenses and they are talking about building relationships with foreign PTTs… what a joke. What is funny is that they talk about catering the 1st and second generaion immigrants… wheras they have sued all those distributors that been working with the company for nearly a decade and the 2 new distributors that they acquired after they bought the company are not sued even though these distributors were offered minutes well below cost and they havent paid those bills either. Rumor has it that they used these 2 new dietributors to sell the cards on the strret and transfer the cash to the big honchos…. And what collections are they talking about they are pursuing…. didnt someone on this site mention that they only account for revenue when the minutes go thorugh their switch. SO if the cards are not working and no minutes going through… what are they going after…. I am glad that the FTC is after them and now with the new laws, they would be going personally after the officers f the company. Goodluck Chance and Jenson, think twice before you start calling distributors as terrorists and lodge false complaints….

    Editor: Seems like you ought to be willing to identify yourself if you’re going to make allegations of that kind of activity. Nevertheless, as shareholders, one cannot find much to feel good about. However, you never know. Maybe this thing will rise from the ashes. I can’t say, I just believe it’s not worth the time to bother with anymore. 

    Comment by Anonymous — 5/29/2008 @ 10:44 am

14. The president of Titan electronics has resigned. Last day today. No press in a while the price seem pretty stable.

    Editor: I love this morning’s press release- it’s the longest press release I have ever read that says absolutely nothing. What happened to their initiatives to spin the divisions out into separate pub cos? Nothing in any of this to believe there is any kind of sound turn around strategy in place. Can’t wait to see the next quarterly filing. 

    Comment by Anonymous — 5/23/2008 @ 12:08 pm

15. Here is an interesting tid bit, rumor has it the the East coast electronics division has closed down and the assets are sold off to Sierra proto express. Is that going to make the share price go up or down?

    Editor: I suppose it could go up, but in any case I believe this is the walking dead. I wouldn’t touch it. 

    Comment by Anonymous — 5/14/2008 @ 8:02 am

16. I thought I was done with TTGL but looking at this http://finance.google.com/finance?q=OTC:RNWF has got me all upset once again. I think I know what has been happening… will call the jerk tomorrow and verify before I post it

    Editor: Looks like they are off and running, leaving the carcass to rot. As I said, focus your energies elsewhere. 

    Comment by Anonymous — 5/2/2008 @ 1:27 am

17. Comeon what are you talking about, just a patron. I used to work there and Crivello was always the head honcho. Even Larry has mentioned it quite a few times that he would speak with the major shareholder [has to be either Crivello or Marks]. Surprisingly the CEO or the president of the company was never accessible….but if what you are saying is true then boy had everyone been fooled. Or maybe then as he is quoted on jsonline.com he only gave brotherly advises to Chance… must be quite a few brothery advises on a daily basis I suppose. I agree with you that they hired Chance because of his colorful track record. This is the thing which bothers me… when press releases are made why doesn’t one simply google the name and talk about it. Anyway this has been a great lesson atleast for me….now lets move on. Those guys probably are enjoying somewhere on the beach…. oops he does live on a beach. Anyway what does all think about V2K

    Editor: V2k will take some time to develop, but it’s interesting as the market is so highly fragmented and the company has a unique approach. 

    Comment by Anonymous — 5/1/2008 @ 9:38 am

18. The stock market is a funny thing. Apparently a person can make money off it no matter which direction the stock is going. Having knowlege of which direction it is going is the key. Frank Crivello is not a board member nor is he an officer of the company. He is just the patron of the childrens trust that David Marks controls. A person in that position has a certain say in which way the company is going to go. A person in that position can direct other people how to invest their money. I bet if the sec dug in real deep they will find who is sitting on top of all the money while the shareholders following the inflated claims of the company paid for it. The last post mentioned B.Chance’s track record in a previous CEO position and asked if any one checked on that, of coarse they did thats exactly how he got the job. I have sold enough of my investment here to break even but I am still bitter about being flim flammed.

    Editor: Again, more contributions. Interesting reading, but not worth productive. 

    Comment by Anonymous — 4/30/2008 @ 7:46 am

19. Thanks BOB for the info on Chance…. I agree that it would be ages before one would even see a $40 in a class action lawsuit… but I dont think the idea behind a class action suit is to collect any money. On the contrary investors like to see this filth paying for their actions. Now I would like to see the relationship between Chance and the companies that were marketing the stock… according to one of the top management officials there, they had contracted with this CA firm who gauranteed them an increase in there stock price from 40cents to 2.5 in one year and that was the reason they were invoicing their customers wor merchandise that wasn’t even shipped. Now if this was done to really market the stock or to stick it to Greystone waits to be seen. My feeling is it was to stick it to Greystone as Crivello has had prior record doing something like that in the past. Why else would the titan controller calling all the cutomers requesting them to agree to the books when a third party would call into verify orders and balances and offer them deals to keep their mouths shut… why else would he maintain 2 seperate books… one for the customers and one for the KBA group??? Would like to learn on how this stuff works, maybe this knowledge would help some not getting into a similar situation in future…

    Editor: Those are some pretty racy allegations. I don’t know about anything along those lines. However, if you want to have a forum to post these stuff, have at it. I think it’s a waste of time. If you relied on what the company and their financials said, you simply got burned by whatever happened. It’s the nature of risk. 

    Comment by Anonymous — 4/30/2008 @ 7:13 am

20. The CEO (Chance) comes from a company SGGC (he was CEO) that went from $2 to .0015 in 3 years. Not a great track record. I wonder how he got the job. No one checked on that one.

    Editor: I wasn’t aware of that. Again- this is a waste of time. Let’s move on. 

    Comment by BOB — 4/28/2008 @ 12:29 pm

21. Thanks for your response… I guess the only way the cash would dissappear so abruptly is if it wasn’t there in the first place. I am surprised that a reputable firm like KBA would screw up the numbers… On their latest 10Q it seems that they are being sued by many of their carriers… hmmm I wonder if they were even paying their bills. I also see them being sued by their printer, love to hear more on what happened there. Stockholders, stay put, and ask for an investigation as to what had happened there. Much of their financials and press releases appear to be fake just to entertain the stock… They say that they did not have any sales and they didnt have finances to support the deferred liability they claim…. no wonder one of their distributor was able to get a temporary restraining order. Go back to the transcripts of the conference calls and the media advertising that Chance had been putting out… NON of that matches what they seem to be saying in court. According to the lawsuits they didnt pay ATT 13M and Sprint another huge amount. According to their 10Q the previous owners havent been paid either… Where is the money????? Stay tuned…

    Editor: I agree with everything you say - however, it’s a waste of time. It won’t put one dime back in your pocket.  It there is a class action suit, it will take years to get you a check for $40. If there is an investigation, no matter what the outcome, you won’t get any money. Don’t waste a lot of time on this. Just move on. 

    Comment by Anonymous — 4/28/2008 @ 11:52 am

22. Why no response on my question sent last week on TTGL?

    Editor: If you haven seen a reply, please resubmit.  Could have had a technology glitch.

    Comment by M. — 4/28/2008 @ 5:26 am

23. I am surprised that you would close your watch at TTGL. How could you after recommending the stock for so long. I believe it is your duty to report on the fraud that this company and the management has played. Is it not you who always quoted saying that you are in close contact with the major shareholder… what is going on over there. Dont you hear from him/her anymore or you just dont want to report. I am sure many of the ‘other’ sharholders who have lost money would like to know if it was because of fraud or was it because of a bad business decision. Here you acknowledge that the PCB division has received a loan from the management and then you fail to comment about the loan that they had from the communication division which was never paid and put that division down the drain. There is a lot more fishy about this company than meets the eyes and I hope that you start sharing all the information that you know. Sooner or later the truth is going to come out and we would know for a fact if Chance is the one running the chance or is it Crivello as commented by one of your readers…. How come you never commented that the company has retained the Kravitz law firm which I believe has represented Crivello in previous bankruptcies. One of their vendors has been heard quoting that the Titan has not been able to pay their rent are being evicted. If Hensell is to be believed then it makes sense when he quoted that Titan had been using the communication division as a cash cow and is spending millions to market the stock by showing revenue…. In the end its like you said lets wait and see what happens here since we all have lost money either way.

    Editor: I’m not sure there is a question here, but this is pretty simple. The company made $9 million last fiscal year, then something happened in November/December, and the company’s cash flow simply vaporized in a nano second. They imploded like an old hotel on the Vegas strip being destroyed. I don’t really understand how they screwed this company up so badly, but I certainly am not going to waste my time trying to understand the story or look into details at this time. I’ve never seen one go down the tubes so abruptly, but I believe it is a better investment of my time to look for new, money making ideas, than to waste effort on this disaster. At the high, I was sitting on at least $200k in profits, and I never cashed in a single warrant. My mistake. Forget about it. Take your loss and move on. You’re better off looking at something new. 

    Comment by Anonymous — 4/25/2008 @ 4:58 pm

24. I am still stupidly sitting on 7500 shares of TGL.
    If I sell at this price I will loose $5800.00

    Should I hold or take out the $2000.00 still invested in this position.

    Is there any hope, or is it dead? Sad it was looking so good for a while, but I guess I looked the other way when the bad news came in.

    Thank you
    M.

    Editor: I personally would not own the stock. The last quarterly numbers showed a pretty big cash deficit. Also, they stated they would start spinning out subsidiaries into separate pub cos. They said we would hear about this at the end of March. It’s now the end of April, and we haven’t heard a word. I believe, for the time being, it is dead money. Your choice on where you go from here, but if they turn back up, you can always go back in. 

    Comment by M. — 4/25/2008 @ 8:13 am

25. Well the financials are out. I find it quite interesting that Mike Kadlec and Ed Peterson have loaned The PCB division 1.5 million with 10% interest. Hmmmm…. are they investing or bleeding even more money off of the company. It’s hard to tred water when you keep getting handed stones…………..

    Editor: More like wearing a man hole cover around your neck. Based on the financial statement I read, wherein their payables outweigh their receivables and cash, it seems like TTGL is currently a one way ticket on the Titanic. $22 million in cash and cash equivalents- $32 million in payables. Seems like a $10 million short fall to me.  Furthermore, they previous stated they would start spinning out their divisions into separate pub cos by the end of March. I’m pretty sure we are past the end of March, and no mention of any kind related to spin outs. Not looking favorable for anyone still in the stock.

    Comment by Anonymous — 4/16/2008 @ 7:55 am

26. The production manager and the sales manager just left the PCB division to pursue other interests. I find that quite interesting that these high end people are bailing out. The writing is on the wall…………..

    Editor: I think the wall is fully painted and the book is closed on TTGL. However, if they spin some of their divisions into separate pub cos, there could be some opportunities. I still have a pretty bad taste in my mouth over the way things turned so south so quickly. I don’t know if I could ever get behind anything they ever do again. 

    Comment by Anonymous — 4/9/2008 @ 8:46 am

27. Thanks for your response; but I wasn’t looking for comments on others’ coverage, instead was looking to see if TTGL had someone else besides your firm for maketing their stocks. Based on your disclaimer on TTGL it doesnt seem that TTGL had paid you the big chunk of the 4M that they had spent in marketing their stocks. Let’s see if the SEC has some information on this.

    Editor: I didn’t get paid much for all the coverage we provided. My upside was in a fairly substantial warrant position, which were exercisable at $2. I thought I was going to make a lot of money on those warrants. Now, I’m pretty sure they will never have any value. I believe our only compensation for all the coverage was $50k. I never exercised any warrants. 

    Comment by Anonymous — 3/30/2008 @ 9:18 am

28. Whats up have you stopped reporting on this company?

    Editor: Nothing to say. I told investors who didn’t want to be really long term and buy into some sort of turn around story to sell when the stock rebounded to about $.75. If there is anything worth reporting, I’ll report. However, at the current time this turned into a losing idea when the telecom division imploded, and there are much better things to cover out there. It’s intriguing because it is so cheap, but hardly worth the brain damage. 

    Comment by Anonymous — 3/24/2008 @ 2:26 pm

29. Hi… Do you know if there are any other entities besides yours which were marketing the TTGL stocks. Thanks in advance.

    Editor: I don’t follow other people’s content, so I couldn’t say.

    Comment by Anonymous — 3/24/2008 @ 1:30 pm

30. I just wanted to let you know I’m out. I hung on longer then I should have. When I saw the stock dip to .46 today I realized it very easily could be a .35 stock. I got out at .50 and moved on to recoup my losses somewhere else.

    Editor: Not much of an argument to be made for holding at this time. I believe long term hold strategies can be fruitful in declining stocks when the fundamentals are holding up and/or improving. In this case, there has been a major change to the negative, and clearly the fundamentals have changed dramatically for the worse. If the company can turn the floundering ship around, we can always go back and look at it again. I don’t care if it’s $.10 or $1.00 when it happens- if there’s money to be made we can have a look at it. For now, you might be better served with your money elsewhere. I’ve never seen a company doing decent numbers turn south quite this dramatically. Amazingly horrific.  

    Comment by kenny R — 3/5/2008 @ 9:09 pm

31. Do you think this company is really going to create 4 different companys with 4 different listings? Looking at past news they have said that they were spinning out the PCB division many times with actual target dates but they never were true to those releases. How as an investor can I now believe they are being truthfull and accurate?

    Editor: Your observation on the PCB division is quite correct. They probably will, now that they have been relegated to the pink sheets. However, I believe investors should just wait and see what they actually do, not act on any promises of future performance. If they put it together, the stock can always be revisited. If you are in this stock, I wouldn’t add to the position until some of this very opaque smoke clears. 

    Comment by Anonymous — 3/5/2008 @ 8:49 am

32. Does this mean that there won’t be anyone to question them anymore about all the SEC filings they have submitted in the past…

    Editor: I’m not sure I understand your question- when you say question them, what do you mean. I am saying as a pink sheet stock they now have the option of not filing financials at all in the future, which would end everything as far as I am concerned.  

    Comment by Anonymous — 3/4/2008 @ 1:19 am

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