Sollensys Corp. (SOLS)

[fenixinvest]

Sad. Was showing a lot of promise at one point.

[hedge_fun]

Good question. One of their affiliates, Geoff…….

who touted his investing prowess relentlessly, won’t say.

Looks like The Beaver put together a pretty solid deal through a SPA, but when the stock dropped like a rock, the seller said, oh hell no.

It’s a shame.

Looks like SOLS is now leasing their building out. Not sure what The Beaver’s plans are beyond that.

GL

[fenixinvest]

Insane. What happened here?

[hedge_fun]

What a difference a year makes……..

Ahhhh….. when you don’t know, what you don’t know. Classic amateur investing.

Classic

[IAMMINDFULL]

Leave it the beaver!!!


Down to a penny


Just criminal


SOLS

[hedge_fun]

If they have no product, can you explain……

the revenue? Or are you saying the books are cooked?

If there is no product why hasn’t someone spoken up sooner?

For the three months ended September 30, 2022, we recorded $102,353 in revenue at Sollensys from the execution of our blockchain archive server agreements and due to addition of Abstract Media revenue, compared to $35,714 in revenue for the three months ended September 30, 2021. We are in the process of developing our strategic business plan going forward and, therefore, revenue may vary from period to period.

For the nine months ended September 30, 2022, we recorded $890,576 in revenue compared to $145,357 for the same period ended September 30, 2021. We are in the process of developing our strategic business plan going forward and, therefore, revenue may vary from period to period.

Our primary product is the Blockchain Archive Server—a turn-key, off-the-shelf, blockchain solution that works with virtually any hardware and software combinations currently used in commerce, without the need to replace or eliminate any part of the client’s data security that is being utilized. The Blockchain Archive Server encrypts, fragments, and distributes data across thousands of secure nodes every day, which makes it virtually impossible for hackers to compromise. Using blockchain technology, the Blockchain Archive Server maintains a redundant, secure, and immutable backup of data. Redundant backups and the blockchain work together to assure not only the physical security of the database but also the integrity of the information held within.

Blockchain Archive Server protects client data from “ransomware”—malicious software that infects your computer and displays messages demanding a fee to be paid in order for your system to work again. Blockchain technology is a leading-edge tool for data security, providing an added layer of security against data loss due to all types of software specifically designed to disrupt, damage, or gain unauthorized access to a computer system (i.e., malware).

Uniquely, the Blockchain Archive Server is a turn-key solution that can stand alone or seamlessly integrate into an existing data infrastructure to quickly recover from a cyber-attack. The Blockchain Archive Server is a server that comes pre-loaded with the blockchain-powered cybersecurity software, which can be delivered, installed, and integrated into a client’s computer systems with ease.

In December 2020, we made our second product offering—the Regional Service Center—available on a limited test market basis. The Regional Service Center was added to our standard product line effective January 1, 2021. A Regional Service Center is a single unit system of 32 Blockchain Archive Servers capable of servicing up to 2,580 individual small accounts, and is marketed to existing IT service providers with established accounts. The Regional Service Center offers small businesses the same state of the art technology previously available only to large or very well-funded companies. Sollensys believes that smaller companies, and even certain individuals, will find the Regional Service Center affordable, paying only for the actual space they use.

[MU_Redskin1]

The GREEDY BEAVHOLE SCREWED ORIGINAL SHAREHOLDERS with a devastating RS and he is reaping what he sowed! S.O.B. took SOLS from a high of $10.50 to $.025 cents! I wonder if the Eagle Lake Country Club syndicate is going to put together a class action suit to OUST the BUM and sue him for mismanagement and negligence!

Hard to buy fuel for his helicopter when he's bankrupting the company!

GLTA SOLS!

Cheers, Red

[IAMMINDFULL]

Yup



Karma




SOLS

[justsayingnow]

He never really had a product for sale. His presentations were sketchy at best. Too bad. Now he is the guarantee of $24k monthly rent

[IAMMINDFULL]

Should have never left it to the beaver!


Heck Wally could have done better!


Just over two cents!



Criminal !!!


Where's the lynch mob?


SOLS

[MU_Redskin1]

Sure! Dropped it below a nickel! Nice job Beavhole!

Law suits coming from the Eagle Lake Country Club syndicate for negligent mismanagement?

GLTA SOLS!

Cheers, Red

[MU_Redskin1]

The BEAVHOLE had to make a payment on his helicopter note, insurance and fuel so he can fly around while the company flounders!

GLTA SOLS!

Cheers, Red

[hedge_fun]

The Beaver is the Guarantor of the……

lease and just raised over $1M with the sale of the building.

If he’ll stop relying upon certain individuals that funded SOLS in hopes of a quick buck when the restrictions were lifted, that might be a refreshing change.

We’ll see.

[Wahoo98]

More changes on the way?

[hedge_fun]

Congrats to The Beaver for selling the…..

building.

Buy for $2.5MM and sell for $3.8MM in less than 2 years.

[hedge_fun]

Well I still didn’t get an answer. Were

The Beavers comments from 1148 days ago motivated by greed?

If not, is he just greedy when it comes to SOLS and anything positive he said about SFRX’s tech is to be believed?

No rant, just questions.

I haven’t met the man as some have (rant).

[Wahoo98]

Well thanks for the update on Don Beaver that consisted of comments from three years ago specifically about SFRX. I would still call it a rant about SFRX but you are the expert.

[hedge_fun]

The rant was about The Beaver. Folks……

called him greedy.

I was simply asking if greed led The Beaver to make the claims he made about SFRX’s “alleged” game changing technology in late 2019, among other things.

He said he saw the initial results. He said it gave them a clear picture of what was under the sand. That promo aired 1148 days ago, and to date SFRX hasn’t found a trinket, nor have they ruled out Melbourne as having treasure.

2 years after Mel Fisher first began looking for the Atocha he had scanned about 20 times the area of Melbourne. Based on other comments The Beaver made in that paid promo it was clear he lacked the proper understanding to make some of the comments he did about the salvage industry.

His comments are consistent with what others have said about the tech and he was suppose to aid SFRX in their quest to make enough in blockchain to pay for salvage operations.

Now he’s conveniently becoming quite the fall guy, or so it seems.

[Wahoo98]

Perhaps you didn't realize it, but this board is for posts about Sollensys. It was nice of you, but completely unnecessary to enter the same rant regarding SFRX on both boards. Good day to you.

[hedge_fun]

I recall his involvement with SFRX. He all……

but promised treasure treasure on deck in short order in the paid promo linked below. That was over 3 years ago. At that time he said P&S had been involved with SFRX for about 2 years.

It was obvious from his interview he lacked a proper understanding of the industry and the available technology. He was a good fit with SFRX.

Some of the highlights from the Nov 7, 2019 paid promo:

10 of the devices are in production and the first one is out there today looking for treasure.

It’s 2019 technology not 1970’s technology.

Takes a 35’ swathe of the ocean floor and can see 30’ below the sand.

It’s a monstrous step forward.

It gives SFRX a real clear picture of what’s there.

I’ve seen the results and it’s extremely impressive.

That was 1147 days ago and we were recently told it only takes a day to scan a site.

Did greed lead him to make those comments?

https://www.newsfilecorp.com/release/49536/President-of-Probability-and-Statistics-Inc.-Joins-The-Stock-Day-Podcast-to-Discuss-Partnership-with-SFRX

[Wahoo98]

I think we may see some changes here for the better. JMHO

[IAMMINDFULL]

A lot of people did


He doesn't care



Karma is real



Should have never left it to beaver


SOLS

[MU_Redskin1]

The last 10Q, what a train wreck!

https://www.otcmarkets.com/filing/html?id=16215262&guid=hul-kKyjFyC7Nhh

They have $5288 in cash in the bank! Sad really!

Oh well, the Beaver played many people and now this house of cards may collapse. I hope too many folks didn’t get burned by this total debacle!

GLTA SOLS!

Cheers, Red

[IAMMINDFULL]

Not going to happen


He is in complete control


No board of directors


I believe he planned this from the beginning


This i do know to be true
Greed never pays
He is his own demise
Sadly these types take others down with them

Look the latest and greatest scam. He's going to do life.

The beaver will also
He has to live with himself


SOLS

[MU_Redskin1]

Wow, that is a powerful statement!

I’m surprised this share price has stayed above $.01 quite honestly. Maybe some company will buy out SOLS and save the company by getting rid of Beavers?

GLTA SOLS!

Cheers, Red

[MU_Redskin1]

I wonder if the Beavers paid Celerit in full and on time? What a debacle!

GLTA SOLS!

Cheers,Red

[MU_Redskin1]

No Christmas miracle! Beavers left a lump of coal in shareholders stockings! Sad but true $9 to $.10 what a shame!

Tax loss selling anyone!?

GLTA SOLS!

Cheers, Red

[Wahoo98]

Lets see if we get a Christmas miracle for SOLS. Jesus take the wheel.

[justsayingnow]

If the figure out how to sell what they have.

[Canna-Biz-Invest]

Maybe 2023 will be the year for SOLS.

[MU_Redskin1]

Greedy Beavers KILLED the golden Goose!

This is what mismanagement and miscalculation will do to a company! Ego got in the way now he and the Eagle Lake Country Club syndicate can suffer the consequences.

Too bad the Golden Goose tuned into a huge Turkey just in time for Thanksgiving!

GLTA SOLS!

Cheers, Red

[Canna-Biz-Invest]

Its starting to get some life again...

[Canna-Biz-Invest]

So much selling pressure, bounce back will be nice.

[MU_Redskin1]

SOLS_Beavers owes Celerit $605,000 by 9/30/22!!!

https://www.otcmarkets.com/filing/html?id=16047007&guid=mr--kF6afPifJth

vii) Sollensys agreed, in connection with its withdrawal from Celerit of an aggregate of $605,000 following the closing of the Merger Agreement, to issue to Celerit a promissory note in the principal amount of $605,000, accruing interest at the rate of 7% per annum and due on September 30, 2022 (the “Celerit Note”).

Beavers’ “House of Cards” is about to collapse, imo. One can’t buy this illiquid turd as nobody will buy when you want to sell.

GLTA SOLS!

Cheers, Red

[MU_Redskin1]

Here come the bag-holders pumping this TURD!

Damn if I bought between $.50 and $10.50 I’d be pumping too!

The Big boys are NOT going to let this pimple on an Elephants ass cut into their security businesses. Everyone knows who they are ... read the filings! Don screwed CELERIT and he and this company will pay dearly: one way or another.

GLTA SOLS!

Cheers, Red

Disclosure: I still own shares of SOLS.

[justsayingnow]

Quite the contrary. You don’t have to hard at all. Make a good product then don’t sell it.

[MU_Redskin1]

I wonder if CELERIT will sue SOLS/Greedy Beavers to recover damages. What a clusterfu#$! This could end up being very, very ugly and leave shareholders holding the bag!

You have to work really, really hard to take a stock from $10.50 to $.10 !!!

GLTA SOLS!

Cheers, Red

[Z Money]

PPS has Been dropping since the divorce..

[KJAX]

I still wouldn't touch it. Looks like it will go sub penny. Also, little volume

[MU_Redskin1]

ABSOLUTELY SPOT ON CALL $.10

Now the question is how low will she go!? Beavhole screwed Celerit and his partners, he is burning cash like a madman and looks like the wheels are coming off this pipe dream.

GLTA SOLS!

Cheers, Red

[IAMMINDFULL]

Told ya



Criminal


Should have never left it to beaver


SOLS

[KJAX]

Makes sense why the stock price has been tanking
Rescission Agreement

As previously disclosed, pursuant to the Amended and Restated Merger Agreement dated as of April 7, 2022 (the “Merger Agreement”), by and among S-CC Merger Sub, Inc. (“S-CC Merger Sub”), a previously a wholly owned subsidiary of Sollensys Corp (“Sollensys”); SSolutions Merger Sub, Inc., a previously a wholly owned subsidiary of Sollensys (“S-Solutions Merger Sub”); SCARE Holdings, LLC, a wholly owned subsidiary of Sollensys (“SCARE”); (iii) Celerit Corporation, a wholly owned subsidiary of Sollensys (“Celerit”); (iv) Celerit Solutions Corporation, a wholly owned subsidiary of Sollensys (“Celerit Solutions”); (v) Terry Rothwell; and (vi) CRE Holdings, LLC (“CRE”), the parties to the Merger Agreement undertook certain transactions, including the merger of Celerit with and into S-CC Merger Sub, with Celerit surviving, and the merger of Celerit Solutions with and into S-Solutions Merger Sub, with Celerit Solutions surviving, in which transactions Ms. Rothwell received certain consideration as set forth in the Merger Agreement, and in connection with which the parties entered into certain other agreements and certain other transactions. Subsequent to entry into the Merger Agreement, the parties determined that they would unwind the transactions as set forth in the Merger Agreement and in the other agreements entered into in connection therewith.



Accordingly, on August 22, 2022, the Company entered into the Rescission, Termination and Release Agreement (the “Rescission Agreement”) by and among (i) the Company, (ii) SCARE; (iii) Celerit; (iv) Celerit Solutions; (v) Ms. Rothwell; (vi) Ron Harmon; and (vii) CRE. Pursuant to the terms of the Rescission Agreement, the parties agreed to unwind the transactions as set forth in the Merger Agreement and in the other agreements entered into in connection therewith, so as to place each of the parties to the Merger Agreement in the position that they were as of immediately prior to the closing of the transactions as set forth in and as contemplated by the Merger Agreement and the related agreements.



Pursuant to the terms of the Rescission Agreement, among other things, the parties agreed as follows:


(i) Sollensys agreed to transfer to Ms. Rothwell one share of Celerit common stock;
(ii) Sollensys agreed to transfer to Ms. Rothwell one share of Celerit Solutions common stock;
(iii) Ms. Rothwell agreed to transfer to Sollensys 4,000,000 shares of Sollensys common stock;
(iv) Ms. Rothwell agreed to resign from any and all positions with Sollensys, including as a member of Sollensys’ board of directors;
(v) Donald Beavers agreed to resign as a director and officer of Celerit and Celerit Solutions;
(vi) Anthony Nolte agreed to resign as a director and officer of Celerit and Celerit Solutions; and
(vii) Sollensys agreed, in connection with its withdrawal from Celerit of an aggregate of $605,000 following the closing of the Merger Agreement, to issue to Celerit a promissory note in the principal amount of $605,000, accruing interest at the rate of 7% per annum and due on September 30, 2022 (the “Celerit Note”).



In addition, pursuant to the terms of the Rescission Agreement, the parties agreed to terminate:


(i) The Executive Employment Agreement, dated as of April 7, 2022, by and between Sollensys and Ms. Rothwell (the “Rothwell Employment Agreement”), except as set forth in the Rescission Agreement;
(ii) The Executive Employment Agreement, dated as of April 7, 2022, by and between Sollensys and Mr. Harmon (the “Harmon Employment Agreement”), except as set forth in the Rescission Agreement;
(iii) The Rothwell Sollensys Blockchain Archive Server Distributive Data Center Agreement (2 Units), dated as of April 7, 2022, by and among Sollensys, Ms. Rothwell and George Benjamin Rothwell (the “Blockchain Archive Server Agreement”);
(iv) The Promissory Note issued by Sollensys to Ms. Rothwell on April 7, 2022 (the “Rothwell Note”);
(v) The Banking and Credit Union Services Agreement, dated as of April 7, 2022, by and between Sollensys and Celerit (the “Banking Agreement”);
(vi) The Real Estate Purchase Agreement, dated as of March 24, 2022, by and among Sollensys, SCARE, CRE, Ms. Rothwell and Mr. Rothwell (the “Real Estate Purchase Agreement”).

https://www.sec.gov/ix?doc=/Archives/edgar/data/1519177/000182912622016220/sollensyscorp_8k.htm

[KJAX]

Market Cap Market Cap
17,620,635
Outstanding Shares
105,197,822

2.4 million cash

Revenue
6,292,177 up from 38,214 June 2021

https://www.sec.gov/ix?doc=/Archives/edgar/data/1519177/000182912622015926/sollensyscorp_10q.htm

[MannyFresh]

what has he done that's criminal other than the share price falling?

[hedge_fun]

There was no way this was a multi-billion……

dollar company, but folks actually paid those prices, and I doubt it was at the point of a gun.

The Beaver’s remedy is likely to be issuing more shares to Celerit. They have to be pissed about those $3.04’s they were issued, but they freely accepted them.

That said, they have the leverage as far as assets (revenues) go.

They could do a forensic audit and see if The Beaver did anything “criminal.”

We are an early stage company with a limited operating history. Such limited operating history may not provide an adequate basis to judge our future prospects and results of operations.

Eagle Lake was incorporated on May 8, 2020. We have limited experience and a limited operating history in which to assess our future prospects as a company. In addition, the market for our products and services is highly competitive. If we fail to successfully develop and offer our products and services in an increasingly competitive market, we may not be able to capture the growth opportunities associated with them or recover our development costs, and our future results of operations and growth strategies could be adversely affected. Our limited history may not provide a meaningful basis for investors to evaluate our business, financial performance, and prospects.

We may fail to successfully execute our business plan.

Our shareholders may lose their entire investment if we fail to execute our business plan. Our prospects must be considered in light of the following risks and uncertainties, including but not limited to, competition, the erosion of ongoing revenue streams, the ability to retain experienced personnel and general economic conditions. We cannot guarantee that we will be successful in executing our business plan. If we fail to successfully execute our business plan, we may be forced to cease operations, in which case our shareholders may lose their entire investment.

[KJAX]

So, you own shares then? I'm just curious since somebody mentioned this company to me. Most penny stocks are scams, so I don't doubt you

[IAMMINDFULL]

If true?

From over fifty dollars a share to current levels is criminal


What about the company? He is the company! And he has single handedly destroyed it


I won't be answering any more questions


Just know this, I know of what I speak or I don't speak. I knew Don personally and professionally and IMO he's criminal


Why ask these questions with no skin in the game? Ask the beaver


SOLS

[KJAX]

That's unfortunate if true, but what about the company itself?

[IAMMINDFULL]

The CEO is a criminal


Watch for lawsuits


SOLS

[KJAX]

What happened to this company? No skin in the game FYI