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He's gonna milk that note for as long as he can. The note was for 5 years if I recall, this company won't be around in a fraction of that.
IMO, they aren't even actively looking to hire a CFO, I think we may have seen the last filing with that NT.
I forgot about that promissory note.....who cares what the stock does, as long as that note is in place, and paying out. And yes, Schlegel always gets his piece of the pie. He's a career con-man, that's for sure.
I think Nitikin is getting paid more here with the promissory note he gave himself so I'm sure a new Benz isn't a problem.
J4 is doing fine as well I'm sure ;)
Everyone is doing well except retail of course. I was really looking forward to the financials that they still haven't filed, always appreciate the creative spins that are used to put lipstick on a pig
How is Nikitin going to pay for his new Mercedes? And what about Schlegel's cut?
More sell volume today, this is gonna end up below a penny soon.
Lolol, and the games continue.
Well, considering Fonon is probably not much of a real business, being a CFO is a piece of cake. And Unified Energy Sources sounds a bit flaky too.
It used to be someone named Carlos Gonzalez. Not exactly a unique name, but I think the LinkedIn profile below may be him considering the position at Sfinkx Dba Blue Chip (Nitikins old thing) and selectively used portions to describe him in the Fonon filings
Funny how the timelines don't seem to jive, I mean how can he be CFO at Fonon according to the filings if he's been employed at Unified Energy Solutions since 2013 and is still actively working there as a Director (bio link below)
https://www.linkedin.com/in/carlosmanuelgonzalez
http://www.unifiedenergysolutions.com/bios/
Bio from Fonon filings
Biographical Information for Directors and Officers
Carlos Gonzalez, age 65, Director, CFO, oversees regional business development. Immediately prior to joining the Company, Mr. Gonzalez was Vice President of 53 Bank, and during the last four years Vice President at US Investment Corporation, responsible for Financing/Business Development of renewable energy projects. Mr. Gonzalez has an extensive international and domestic banking career, initially in Oregon with Wells Fargo Bank, and later in Florida with SunTrust, Union Planters (now Regions), Banco Popular North America and Fifth Third Bank. He is a certified lender by the Export Import Bank of the United States, an investments Registered Paraplanner, and licensed to transact insurance in Florida. A native of Cuba and a retired Major from the U.S. Army, Mr. Gonzalez served in the Combat Military Police in Vietnam, and later in Saudi Arabia and Iraq during Operation Desert Storm, where he received the Bronze Star Medal and numerous other awards. Mr. Gonzalez graduated from Portland State University with degrees in International Business Administration, Marketing and Latin America Studies. He also attended the United States Army Command and General Staff College.
New CFO needed? Who was the old one, and why the need for a new one? Maybe someone resigned in disgust, or fear of being dragged into a prosecution.
I'm going to go out on a limb and say this might not help things
http://www.fonon.us/chief-financial-officer-cfo/
So soon with the delinquent filings? Why can't these con-men be a little smarter and keep up the pretense of being a legitimate business a little better? Maybe it isn't working out between Schlegel and Nikitin?
And now they are listed as delinquent on OTC Markets
Wonder what happened to the 10k? They Filed for extension but no sign of the report.
More about the Nikitin's previous businesses, Blue Chip Energy and Advanced Solar Photonics....
From the US Solar Institute.....
Orlando-based ASP Solar Panel Fraud
We have some recent developments in the ongoing saga with Blue Chip Energy (a.k.a Advanced Solar Photonics (ASP)) [owned and run by the Nikitins].
The company knowingly put these fraudulent panels on the market, thinking no one would notice. They were wrong.
But how big was the scam? How extensive is the damage?
Well, conservative estimates place the number of defrauded customers in the hundreds – in just Florida alone. Blue Chip Energy sold megawatts of solar panels.
Florida customers who bought Blue Chip Energy panels may soon discover that the accompanying warranties are void. The company is on the verge of going out of business, the factory is closed, dark and almost abandoned. It was only a matter of time before the all of this companies fraudulent activities were discovered. [The company subsequently went out of business leaving customers, employees, suppliers, creditors and investors on the hook for millions]
No company = no warranty.
This is the kind of people who are running Fonon and want you to invest your money.
The history of dishonesty of the principals is a millstone.
As the old saying goes, "A leopard can't change it's spots."
The Nikitins and "Baba Louie" Schlegel, the fart, have extensive histories of scamming and screwing investors in the past. Despite the Nikitin's attempt at obfuscating their past by using all the different spellings of their first names to make searches more difficult, there is just too much history to overcome.
Love the compelling technology fluff. Kind of ironic that the only party that regards it as that is the company itself. No one else is touching this nonsense.
PRs put out by con artists are pretty much worthless. That's how the market sees it too, the $20 paint job at the end notwithstanding.
Fonon Corporation Continues to Issue Compelling Technology Updates
The company continues to build a solid foundation of next-generation products and technologies. The recent press release aligns with early press releases regarding their interest in growing revenue in Flat Panel Display market.
https://www.accesswire.com/438000/Fonon-Unveils-Update-to-Laser-Cutting-Technology-for-Glass
MetalMaster
Another 122,000 shares dumped today, with a 100 share paint job to the green. It never gets old, and it never gets good either.
The Nikitin's Blue Chip Energy, LLC and Advanced Solar Photonics released similar PRs. They were repeated by some of the same sites.
The Nikitins have a history of using these PRs to inflate their reputation while defrauding investors, creditors and customers. Oh yeah, J. Louis Schlegel IV has a similar history of false and misleading PRs for other stock selling scams like Spare Backup, Mabwe Minerals, et al.
Excerpt from The Orlando Sentinel
Fonon Corporation Continues To Push Laser System Technologies To Higher Industry Standards
Fonon Corporation continues to roll out next-generation machinery. Check out their recent press release.
http://www.kcentv.com/story/31477633/fonon-corporation-announces-trinity-of-technology-advancements-for-laser-cutting-of-highly-reflective-metals
https://www.accesswire.com/viewarticle.aspx?id=437896
http://finance.yahoo.com/news/fonon-corporation-announces-trinity-technology-210000501.html
The Titan FX Metal Cutting System is innovative and appears to be a game-changer.
MetalMaster
Suddenly, Alf is getting blamed for being the bad share dumper? How rude of him.
Agreed, and the dollars are never huge on a given day, but they spread it out, so collectively, they add up, and retail continues to get the shaft
The dollar amounts aren't huge, but every couple thousand bucks worth dumped is another couple thousand in Nikitin's hands, or his insiders.
Another dump today, don't need a video to tell me what this is really about.
Pretty worthless video and a complete waste of investors' money. 37 views (and I feel duped having been No. 38). Nothing but a bunch of pictures of other company's technologies. Schlegel should go back to the cartoon book format, now that was impressive marketing!!
No, what I would have liked to see is how Nikitin and his wife are spending his loot. New cars, new house, a yacht? Can we see videos of that?
Who is Fonon Corporation?
Found this on YouTube
Based on management's prior history, this is just another scam aimed at enriching insiders at investor expense.
The Nikitins, "Baba Louie" Schlegel and others involved have a long history of scam operations.
CAVEAT EMPTOR!
Fonon Announces New Laser Cutting System for Fast-Growth Industrial Markets
http://finance.yahoo.com/news/fonon-announces-laser-cutting-system-130000978.html
Fonon Corporation's family of Laser Tower Marking and Engraving systems are based on a technology called "Galvo Driven" that uses a Galvo scan head to deflect the laser beam across the marking application.
Their new family of SBM Marking and Engraving systems are based on a technology called "Flying Optics" that uses mirrors to deflect the laser bean across the marking application.
Based on my research thus far, it appears that Fonon Corporation is the only laser-based system manufacturer that offers both Galvo Driven and Flying Optic Marking and Engraving systems.
MetalMaster
Couldn't agree more.... When this outfit was low tech, they could never deliver the goods.. that mystical barite, ya know..
And now, to think that some small time laser cutting dudes have something that could revolutionize the industry, well, the idea is good for a few hearty laughs......
Baba Louie the fart, aka J. Louis Schlegel IV, has a looooooong history of umping scam companies by putting out those "Investor updates". They were and are 99% BULLSHIT.
Given Schlegel's and the Nikitins' histories, it would not be wise to put much faith in anything they say.
Fonon Corporation: Sign-up to receive real-time updates
I filled out a "contact us" form requesting my name be added to their marketing distribution list and receive real-time information with respect to their new products, new videos, and major announcements.
Received this link last night: Technology Battle: Dot Peen vs Markstar fiber laser
http://link.rm0002.net/v/9j2S1auOvNU6UTCiNzQpyg2
Say this posted on Morningstar:
https://www.morningstar.com/news/access-wire/ASW_Accesswire_437297MSN/fonon-announces-major-improvements-in-laser-cutting-technology-for-its-2016-titan-fx-laser-cutting-machine.html
MetalMaster
Yeah, ya gotta take those claims with a grain of salt. The Nikitins claimed that Blue Chip had "the best" solar panels made. They make grandiose claims of efficiency and output too, even fooled trade publications into repeating the claims.
Then they got caught. The solar panels were really substandard. The Nikitins' company, Blue Chip Energy was forced into bankruptcy, all their assets were sold for pennies on the dollar, the work force let go with no notice and due pay, customers were left high and dry with substandard panels that they had to pay to replace after already paying the Nikitins.
Don't put too much faith in the hype. These people have a history of dirty dealing and lies.
Fonon Announces Major Improvements in Laser Cutting Technology for Its 2016 Titan FX Laser Cutting Machine
http://finance.yahoo.com/news/fonon-announces-major-improvements-laser-132000499.html
Without a doubt, way too obvious
Schlegel at work - scammers do what scammers do.
Wow, been a while and it looks like the shadiness continues.
Looks like that video was posted by Fonon Corp to youtube and magically mere minutes of its posting someone shares a link here stating that they just stumbled across the video... Hmmmm
Now what are the chances of that happening randomly?? Looks like the games continue here...
Who cares you ask?
Fonon Corporation is generating revenue recently providing their first forward-looking 1st Qtr comments. They continue to announce compelling technologies like their 2016 Titan FX, 3D Metal Printing System technology, comparisons between their deep engraving system (Canyon) vs milling at twice the processing speed.
Who cares are their shareholders, potential investors, and customers.
Just came across this YouTube Video of the company's hi-volume drill-bit marking system. I have searched the internet and see no supplier in the industry who provides this level of specialized sophistication. A system that marks 24 bits per 20 seconds is significant.
Yeah, yeah, yeah, who cares......remember, FONON is a scam, just like everything else that Schlegel touches. I wonder what his cut is?
Continuation of Fonon's Recent Titan FX Press Release
I would like to give credit to Professor3D for contributing to the following:
"Fonon mentions Lightbridge technology in their product literature. Their bridge across the gantry is made of light weight aluminum compared to heavy cast iron (hence the term Lightbridge). One of these benefits is the ease in resetting system orthogonality "with the push of a button".
In addition, Fonon incorporate a magnetic based Direct Drive Motion System compared to their competitors who use rack & pinion motion and ball screw. The higher-cost rack & pinion motion system requires a high-powered AC Servo Motor to move the laser across the gantry. This adds cost (servo motors are not cheap to move cast iron bridges), increases maintenance, increases manufacturing space foot print but most of all, increases the power consumption too!
Just another cost adder to the power consumption bill each month"
MetalMaster
Nikitin's solar panel business sounded good in the PRs until he got caught selling counterfeit, substandard panels. Nikitin used the company like his own private ATM. Customers lost millions, workers didn't get paid, the company went bankrupt and all its assets were sold off.
BEWARE!!!
The Nikitin's have a long history of shady dealings and running cons. Read the sticky at the top of the board and the board intro. There's much more that that too.
The Industry Impact To Fonon's 2016 Update on Large, Hi-Power Cutting Systems
The majority of end-users have C02 based metal cutting systems as this was the prevailing technology years ago. Their systems are on the end of their life cycle. C02 based systems are significant power consumption hogs (and also increased consumables and maintenance costs). The technical reason is that a C02 laser beam reflects 90% of the energy away from the material requiring significant power to make up for the losses.
The annual costs savings over the first 5 years is more than the price of the machine.
End-user are able to upgrade their system from 1KW to 8KW at their facility by themselves an industry 1st. Saves significant dollars as it is not trivial to ship these large systems to the manufacturer to install/upgrade. This is not a free cost basis service from any supplier.
An integrated laser and chiller (heat exchange) reduces costs, lowers power consumption, and reduces the facility space footprint by ~ 30% in overall manufacturing space. Just tap into the factory water supply and your done. In addition, you just eliminated additional monthly consumable and maintenance costs.
Orthogonality is a real issue in the market. Gantry misalignment, metal sheet jamming, and system seizers increase monthly maintenance costs, loss of productivity, and additional loss of raw materials. Self-correcting at the push of a button is significant.
The most interesting benefit based on my research is the Adaptive Beam Shaping Technology Fonon is announcing. All current generation systems use a gaussian shaped beam profile that is designed for thin metals. Attempting to cut thicker metals takes more time and the edge quality degrades as the material gets thicker. With the ability to adapt the beam shape based on changes in thicker metal sheets, Fonon's 2016 Titan changes the landscape in productivity providing a single system that can adapt to any changes in metal thickness.
MetalMaster
Maybe Nikitin has turned over a new leaf, and reformed his scamming ways? No, scammers do what scammers do - in this case, setting up a publicly traded company to really "take it" to investors.....
Just a rehash of old "news", paid promo.
Nikitin needs to sell more shares. Maybe he needs a new boat for spring (and a new Mercedes to pull it).
ROTFLMAO!!!! Read more.....
From the Orlando Busines Journal
LAKE MARY -- A Russian-born businessman is under fire by the Lake Mary laser-cutting company he co-founded, charged with funneling hundreds of thousands of investor dollars into luxury homes and an affluent lifestyle.
Precision Technology Group is suing ousted President and CEO Dmitri Nikitin and his wife, Svetlana, alleging that Nikitin "engaged in a pattern of self-dealing, diversion of company funds, property and resources, and other acts of corporate looting."
Undocumented Loans
Advantage Capital invested $2 million in PTG. That's roughly where the lawsuit picks up on Nikitin's alleged pillaging of the young company, according to the lawsuit.
For example, the same month Advantage Capital made its investment, PTG authorized a house loan of up to $261,000 in company funds to Nikitin. Former PTG employees say Nikitin demanded the $261,000 loan as a condition of PTG taking funding from Advantage Capital.
The lawsuit further states he used the money to purchase a 5,759-square-foot home in Alaqua, a luxury golf course community in Seminole County, for $595,000. On a life insurance application obtained by the Orlando Business Journal, Nikitin listed his salary at $150,000 a year.
Nikitin and his wife, Svetlana, also own a beach house in Daytona Beach, which the lawsuit contends the Nikitins purchased with unauthorized PTG funds. PTG does not have a record of the home loan, the lawsuit says. The company claims Nikitin acknowledged he owed the money, but could not produce a promissory note.
Other Acts Described As, "Corporate Looting"
Nor is the financial dispute limited to the purchase of the home. The company contends Nikitin illicitly received more than $119,993 from company coffers since June. He received payment for items listed in company registers as "work on Nikitin house," the cost of shipping a Porsche from Austria to Florida and $10,000 denoted first as "tradeshow" and then changed to "executive salaries."
In October, Nikitin submitted a request and received more than $10,000 for meals, entertainment and travel expenses in 1997 and 1998.
Nikitin also is charged with taking more than $22,300 from PTG bank accounts, including $7,000 he withdrew from an account on Dec. 19 -- more than a week after he was fired from the company.
The lawsuit states the company hasn't ascertained the full impact of Nikitin's activities. Former employees contacted independently by the Orlando Business Journal say that extravagant purchases by Nikitin following cash infusions at PTG were commonplace.
When the company received a payment from German semiconductor maker Heraeus Quartz Glass about three years ago to develop a laser machine for welding quartz, Nikitin bought a $27,000 boat with the money, they say.
When he discovered his Mercedes Benz sedan couldn't tow the boat, he dipped into the same pot to buy a Mercedes sport utility vehicle.
-----------------------------------
More to follow......
Let the buyer BEWARE!
Fonon Announces Release of 2016 Titan Laser Cutting System
The company's Titan Hi-power metal laser cutting system capable of saving users up to $1M over typical five-year span.
Article
Fonon Corporation (OTC: FNON) today unveiled ten major updates to the Titan family of large, flat-bed multipurpose laser cutting machines, integrating multiple subsystems and introducing several evolutionary improvements which increase end-user productivity, lower costs over time, minimize the Titan’s floor space footprint and reduce its power consumption.
http://www.digitaljournal.com/pr/2843726
Based on competitive market prices, these systems range in the $500K to $750K dollar range. The power consumption/consumable savings compared to C02 cutting systems is significant as it appears a very high ROI in the first 5 years alone.
MetalMaster
Just more fluff to try to promote the Nikitin's ATM.
Do some DD on the CEO and CFO (Dimitry and Svetlana)
Be sure to check ALL the various spellings of "Dimitry" as he's used all of them in an effort to obfuscate his shady past dealings, including counterfeiting, misappropriating company funds for their own personal use, and multiple failed companies and bankruptcies.
Hi goodinvestment,
Thank you for the update! The cost savings of over $500K the first 5 years compared to C02 laser technology is significant. Older C02 laser-based cutting systems reflect > 90% of the energy requiring significant power consumption to cut metals. Especially highly-reflective metals. Many companies are now looking to replace their older C02 systems and the cost savings is material. Fonon's article is timely.
Always enjoy reading your post!
MetalMaster
Fonon Announces Major Update, Cost Savings for Titan Laser Cutting System
http://finance.yahoo.com/news/fonon-announces-major-cost-savings-130000234.html
Baba Louie Schlegel (Fonon's marketer/promoter/head scam artist) is up to his old tricks, isn't he? Gold mining expert, then a barite expert, now he's a 3D Metal Printing expert. Talented guy. A good marketer can promote anything - too bad Fonon is just another scam.
Hello BR,
Thanks for the link to the article!
I had no idea of the number of advantages that laser based deep engraving systems have over mechanical milling machines. For high-volume applications, the difference in processing times is significant not to mention all the other advantages.
Kudos to Fonon Corporation for a great article!
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Do your own DD and come to your own conclusions.
No board poster is acting as a licensed investment advisor or broker.
Mabwe was just a tissue of LIES, HYPE and FALSE PROMISES
As predicted, it has gone under and the shell has been taken over by another probable scam
BEWARE!
The CEO of the new company, Fonon Technologies, has a checkered past to say the least.
He's left a trail of bankruptcies, corporate looting, and angry investors, customers, suppliers and vendors in his wake.
He seems to vary the spelling of his name to make it more difficult to track his history.See the section below
Warning Signs and Red Flags
This company has a habit of editing previously released "Presentations", "Updates"
and "Investor Newsletters" whenever they need to cover up a lie.
Take what they issue on their website with a grain of salt.
Tomorrow, it may say something completely different.
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