Everything these guys have said and more. This is a typical example of a smoke-and-mirrors pink sheets company, with all sorts of stuff going on behind the scenes. Unfortunately, there is really no way to short the company's stock (then again, it's hardly worth doing, given that Sutimco's market capitalization is about $600K). Some of the guys on the management team are, as far as I can tell, pure flim-flam artists. Certainly that appears to be true of the founder and Chairman Fred Rogers.
Sutimco stemmed from buying an empty public shell, and raising funds for it, a couple of years ago. Not a problem in and of itself. HOWEVER, the use of proceeds from that raise (if memory serves, it was around $9 million) was to pay the founder Fred Rogers for a little private company that he owned, named SUTI. In that deal, SUTI's assets became Sutimco's. SUTI consisted of nothing more than minority stakes in a few pre-revenue tech companies. Anyhow, as far as I can tell, just a few percent of the proceeds of the financing made it onto Sutimco's balance sheet -- the vast majority were pocketed by Fred.
Sutimco exists on vapor, as I don't believe it is seeing any distributions whatsoever from its portfolio of startups. I do not think that its 3-5 employees are being paid -- if so, they're being paid at most a mere pittance.
An acquaintance of mine who used to work there told me that Mr. Rogers zealously guards his phone number, and in fact blocks caller ID on outbound calls. No wonder! I am sure that the folks who bought shares of Sutimco on the open market a couple of years ago aren't too happy. His phone # is 800-360-7884 x7002. Give him a call!
