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EFCT SEC Revoked
https://www.sec.gov/litigation/admin/2018/34-83287.pdf
As warned, EFCT SEC Suspension for delinquent Financials/Filings:
https://www.sec.gov/litigation/suspensions/2018/34-82508.pdf
Order:
https://www.sec.gov/litigation/suspensions/2018/34-82508-o.pdf
Admin Proceeding:
https://www.sec.gov/litigation/admin/2018/34-82507.pdf
could be, about like us.
They might have been crooked.
What happened to the web site www.rockethub.com?
Did they fraudulently transfer the web site to an offshore company in England called Eliqt?
Why did title to www.rockethub.com get transferred to a company in the UK called Eliqt?
EFCT is severely delinquent in filing the company's Financials. The stock is at risk of an SEC Suspension and subsequent stock registration revocation.
https://www.sec.gov/cgi-bin/browse-edgar?company=EFactor+Group+Corp&owner=exclude&action=getcompany
If these guys were legit, they would get the financials in order, then try to make a business. Absolutely no confidence remains.
back to the low or lower more likely. No INFO Dark restricted by many brokers, couldn't buy it even if I felt like doing some bottom fishing.
Tried to get some at open, painted up too quick, massive multi site paid pump, should be back at .04 or so within the next few hours....
SEC doesn't do doo doo. They leave it to Finra/OTC to police themselves. All designed this way to let USB and others through a few MM's like Knight to rape the "investors". No wonder the volume and number of traders have dwindled. And no one wants to organize to change this, so on we go.
Hey EFactor, I need a coach to inspire me. I feel setback. LMFAO
so what's shakin now? This dead and buried barely alive.
Agree. Terrible people.
Typical scam. They took the money and ran.
Does anyone know what happened to the company's management?
mkrak23@aol.com
No updates - I read in the Increasive sec filing, neither side can say anything about the settlement for the later of 180 days or until Increasive is no longer a shareholder. 180 days would put it around October 12th.
I am putting together a proposal to buy the entire company. It's currently valued at less than $1m. I own close to 5% already. I know some people, we can come up with enough to buy the whole thing. If nothing else, we will be able to do our due diligence in determining purchase price and see what's under the cover and kick the tires.
Hell, I'm tempted to see if the Rockethub guys want to buy their company back. Three of the four have left the company and are doing other things. If they truly got $15 million for their company, they could buy it back plus Efactor for a fraction of that.
If you want to see the proposal, let me know your email address. I don't want to make it public on here.
Who the hell is buying here? This has to be a scam.
Up 4 fold since its all time low of $.04 a couple of weeks ago!!!
Criminal how we pay the SEC to protect investors from this bs, and they do nothing! Save some tax dollars and get rid of the SEC, they serve no purpose.
These scammers have no ethics. How do you sit there and make a living off of stealing from honest investors.
They started another company connect.works. The whole board of directors and officers. I know they got decent salary last year $225,000 for adrie and Marion. They keep their preferred shares too. They were supposed to hand those over due to default, but the settlement said they did not.
I read more about mr fife. He is a value oriented hedge fund manager. Might just be playing it for a bump. He takes big stakes in many penny stocks.
Mslp
Mjmj
Math
Oslo
Cdnl
Uchc
Some winners and some losers. Some with big news right after.
Hoping for a winner.
Good idea. Where did the officers take off to I wonder?
So I've been reading about John m fife, who bought about 400,000 shares in April 2016 under typenex company name that he is sole owner. Probably for around $0.05.
He has been involved in some suspected insider trading cases, where he bought just under 10% of companies (uahc, reac) before they ran up and he cashed out.
It makes sense he would buy at 0.05, help efct resolve its debt issue and ride it back to a realistic valuation and make millions if it goes back to $4.
Just a theory that I hope is right.
That's what kills me with this stock. Their earnings report were positive and the company was growing. Then out of nowhere, price drops and market cap goes from millions to nothing. Management jumps ship and no news explaining what the hell is going on with the market cap. I bought $2000 worth and have lost almost 100%. Beautiful thing.
How many shares do you own? I have read everything I can find on the company. They still have an investment bank (maxim group llc) underwriting a secondary public offering for $10 million (2 million shares). This was based on $4 a share in December. Still shows as active on their website.
They have a few venture capital firms that own about 400,000 shares each, bought in April.
The lack of news and annual report is worrisome, but I think now that the threat of default to Increasive is past, I think it should come out soon.
The market cap is SO low, I just have to think it will go up from here. They said annual revenue is $4 million. Heck, rockethub was supposedly worth $15 million. I think there is value here.
I admire your risk taking. I'm stuck in this pos. Would love to file a class action lawsuit against these clowns.
Someone else is finally buying besides me.
There is a new SEC filing SC 13D Acquisition Statement dated yesterday, that says Incresive foreclosed on prior loan agreement receiving the collateral shares. Ad Prins has resigned from the board now too. The loan is satisfied. Ad owns 2.7% of company (99,630 shares).
Yup, doesn't smell right. No idea what is going on due to the information being all over the place or unavailable.
I wonder if they were related to the Director who took exodus in the Netherlands? An inside game. Something doesn't smell right with the self serving transactions.
I wonder how much the three VC firms paid for their 10% shares, reported own in late April. I would have to think they looked at the books. At $0.10 that's less than $40,000 they each bought. Throw away money?
Efct's director from the Netherlands cut a deal with Increasive of the Netherlands to screw the shareholders. Something doesn't smell right there.
So it looks like Ad Prins did not have a good relationship with the rest of the board. He is VC co was a major lender and he was sick of getting decreasing value shares instead of money paid back. So instead of defaulting and not getting anything, he took control of the company so he can recoup money. Hopefully due to his large share holdings, he isn't just cutting costs and taking all the revenue. I would think Rockethub would be worth something, maybe they're looking for a buyer. Anyway, I've been buying under $0.10, betting something has to go right. As you guys have pointed out, this seems undervalued. I read somewhere the website name alone is worth more than market cap currently.
On April 15, 2015, we entered into an Agreement and Plan of Merger (the “Merger Agreement”) with EFactor Merger Sub Inc., a New York corporation and our wholly owned subsidiary (“Merger Sub”), RocketHub Inc., a New York corporation (“RocketHub”), the shareholders of RocketHub (the “Sellers”) and Eric Schneider in his capacity thereunder as the representative of the Sellers (the “Seller Representative”). Pursuant and subject to the terms and conditions of the Merger Agreement, Merger Sub was merged with and into RocketHub, with RocketHub surviving as our wholly owned subsidiary (the “Merger”). The Merger was closed simultaneously with the execution of the Merger Agreement, on April 15, 2015. As consideration for the Merger, the Sellers received 357,143 shares of our common stock, at a purchase price of $42.00 per share, for an aggregate purchase price valued at $15 million.
The value appears to be in the goodwill as I see $27 million on the books.
Exactly! I mean this went from a market cap of 20 million to nothing. Where did the value go? This is insane.
Whatever happened to the $15 million acquisition of rocket hub crowdfunding website?
Might be time to look into a class action lawsuit. Man, I should have known something was up with positive earnings report and the drop in price. So criminal to put out false earning reports. Feel like hunting these guys down myself and going vigilante style justice.
what does this mean?
where did the insiders take off to???
I see Magna and may others loaned them lots of cash. Where did the officers and directors run too I wonder?
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EFactor Group Corp.
1177 Avenue of the Americas
Suite 5060
New York, NY 10036
Main: +1 650 380 8280
Email: marion@EFactorgoup.com
EFactor Website: http://www.EFactor.com/marion
EFactor Group Corp.
John Mattio
203-297-3911
John.mattio@efactor.com
In addition to his business and advisory roles, Adrie is a published author and frequent speaker. The N-Factor: How Networking Can Change the Dynamics of Your Business was published in 2007 with EFactor Co-founder Marion Freijsen. Their second book, The EFactor: Entrepreneurship in the Social Media Age, was released in November 2012 and achieved Amazon Best Seller status, Small Business books.
Mr. Reinders holds a degree in Social Geography from the University of Amsterdam.
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