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Lecere Corporation (LCRE)

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AS:  20M
OS: 1,756,736 (1/11/2011)
Float: 1,285,852

AS: 2M
OS: 200k


SEC filings  (504 list)

Transfer Agent: (gagged)
Corporate Stock Transfer, Inc.
3200 Cherry Creek Drive South, Denver, CO
Tel: (303) 282-4800
Fax: (303) 282-5800

  F.I.R.M.S.FIRMS from Lecere Corporation
videoLecere Point of Sale (POS), Fully Integrated Restaurant Management System, (F.I.R.M.S.) running on an ipad. 1,867 views and 32,469 views respectively. (cira March 2010)

Lecere Corporation

920 SW Third Ave
Portland, OR 97204

Company Officers:


James Morris -  Chairman, CEO ($120k/yr)
Gregory Schillinger, Dir. Bus. Development
Roger D. Williams - BOD 

08/25/09 Interview with Dr. Morris

Dr. Morris' Revenue projections:
$3-4M in 2nd year of operation

Filings with Pinksheets
Period End
Attorney Letter with Respect to Current Information - Q2 06/30/10 07/23/10
 Q2 Financials 2010 06/30/10 07/23/10
 Q2 Report 2010 06/30/10 07/23/10
Attorney Letter with Respect to Current Information - Q1 03/31/10 07/03/10
Attorney Letter with Respect to Current Information -  Amended Disclosure Statement 03/31/10 06/03/10
Q1 Financials 2010 03/31/10 06/01/10
Q1 Report -  2010 03/31/10 06/01/10
Annual Report - 2009 Year End Financials 12/31/09 J06/01/10
Initial Company Information and Disclosure Statement - Amended June 1, 2010 (Replaces All Previous Disclosures) 03/31/10 06/01/10

  Business Description:
Lecere Corporation, which provides restaurants with pay-as-you-go integrated resource management software, helps restaurants manage and optimize the delicate balance between their resources and their customers' experiences. Lecere's FIRMS (Fully-Integrated Restaurant Management Software) package helps restaurants reduce their operating costs while enhancing customer satisfaction. FIRMS is an integrated set of Software as a Service (SaaS) modules used for optimizing the operation of restaurants on any level, ranging from an individual restaurnat to multinational chain restaurants. The FIRMS Software offers five individual, on-demand modules including Point of sales (POS), Reservations, Accounting, Mapping and Geocoding, as well as Data Mining.

Reverse Merger:

Lecere Corporation is a  Restaurant POS (Point of Sale) Start-Up company that became a public company through a reverse merger with FullcircleImage.com (FCLE.PK) following a 1: 20 reverse split on March, 11, 2009. LCRE assumed  the Debts of FCLE

The number of outstanding shares of Lecere common stock increased from 417,945,847 to 13,317,360,000 over the time period from February 7, 2009 to December 31, 2010

The number of free trading shares of Lecere common stock increased from 59,845,847 to 12,858,520,000 over the time period from February 7, 2009 to December 31, 2010

Lecere was formed as the result of a merger acquisition on February 7, 2009
Lecere had a 1 for 100 reverse split on March 11, 2009
Lecere had a 1 for 10,000 reverse split on December 10, 2010

11/29/2010 - LCRE announced today that it will execute a 1 for 10,000 reverse split of its capital stock, effective December 13, 2010. After the reverse split there will be 7,500,000 common shares authorized, 300,000 preferred shares authorized, 1,274,962 common shares outstanding, and 80,000 preferred shares outstanding. The float will be 1,269,409 shares. All outstanding preferred shares are owned by management and are restricted from sale until at least September of 2011.


Notable Shareholder Quotes:
You can only do so much to stop an idea whos time has come...." -Lonewolf1
"...This stock doesn't have a snowball's chance in hell of ever seeing .0005 again..." - up-down
"... doing exactly what the stock needs to rise...extract flippers and attract longs..." - ArchiH
"... Bash, Pump, it doesn't really matter to me this stock is going to talk for itself here soon! ..." -dizdoti
"...This obviously opens up a new avenue of sale for their "magical, whimsical" iPad. Any amount of PR through Apple channels would be ginormous because of the Apple fanbase...." -  Prince Mishkin 
"...all it takes is for one email, Facebook, or Twitter group to get the green light from their head honcho and it's a whole other ballgame ..."  -
Big ChrisDawg
"... hold those shares like they're water in the desert ..."riverandfold
"... If this thing works like Morris claims, we seriously have nothing to worry about..." - Brownie87
"... PULLBACK is done time to MOVE NORTH..." -bullishtrade
"... how many other .0004 stocks have a real marketable product? Not many, in fact very few..." -mschake
"... If it goes down, accumulate, if it goes up, enjoy!.."scriznik

As of 5/07/2010, 159 I-Hubbers control 1,912M shares,
How high can we get this number?  Can we lock up the 4.3B float?  Add yours here.... #msg-49041850 and here #msg-50058515

SEC filings  (504 list)

> You sold almost 25 billion shares.
Wrong. We could not have sold 25 billion shares. The outstanding share count is only about 12.7 billion. Did you ever take any math courses? For operating cash, we sold about 11.7 billion shares in total to 504 investors, raising a total of about $1.3 million. The other approximately 1 billion shares were sold to 504 investors for debt conversion to pay off the $200,000 debt to Yorkville.  - CEO-Jim Morris


 Recent Press...
10/25/10 9:01AM GLOBE www.globenewswire.com/newsroom/news.html 7 new customers in 1st week!
10/18/10 9:01AM GLOBE www.globenewswire.com/newsroom/news.html EASY 123 IS LIVE
08/02/2010 9:01AM GLOBE Lecere's FIRMS is Another Smash Hit at 123 Bolinas
07/30/2010 10:38AM GLOBE Lecere's FIRMS a Smash Success at Trio
07/19/2010 9:05AM GLOBE Lecere's FIRMS Goes Live at Trio and 123 Bolinas
07/09/2010 8:29PM GLOBE Casey Powell Joins Lecere as Executive Management Consultant
06/29/2010 4:29PM GLOBE Lecere Announces New Corporate Website With a CEO Blog
06/25/2010 3:45PM GLOBE Lecere CEO Answers More FAQs
06/23/2010 4:15PM GLOBE Lecere Announces Strategy Initiatives
06/14/2010 2:55PM GLOBE Lecere CEO Does Live Interview on www.stockgoodies.com Blog Radio
06/07/2010 9:01AM GLOBE Lecere's FIRMS Goes Live at Nepo 42; Treo and 123 Bolinas are Next
06/04/2010 2:12PM GLOBE Caveat Emptor Removed for Lecere Corporation
05/27/2010 8:01AM GLOBE Removal of Lecere's Caveat Emptor is Imminent
05/17/2010 8:01AM GLOBE Lecere CEO Answers Some FAQs
05/12/2010 8:01AM GLOBE Lecere Affirms Pilot Project on Schedule at Nepo 42
05/04/2010 8:00AM GLOBE General Statement to Shareholders From the Lecere CEO
05/03/2010 8:01AM GLOBE Lecere Discloses Significant Short Sales of Its Stock
04/30/2010 8:01AM GLOBE Lecere Announces Pilot Project Kickoff at Nepo 42 in Portland, Oregon
04/26/2010 8:01AM GLOBE Lecere Produces Demo Video on YouTube:
04/20/2010 8:01AM GLOBE Lecere CEO Does Live Interview on ChartPoppers.com
04/12/2010 9:01AM BW Lecere Announces Pilot Project Kickoff at Initial Customer Site and Support for the Apple iPad
03/29/2010 9:01AM BW Lecere Announces Mobile Device Support: iPhone (Apple), iPod Touch (Apple), Nexus One (Google), Droid (Motorola), Galaxy S (S...
03/01/2010 9:01AM BW Lecere on the Verge of Deploying Its Software, Reaffirms: NO REVERSE SPLIT!
01/25/2010 9:01AM BW Lecere Announces its Strategy for Internet and Electrical Outages in Restaurants
01/19/2010 9:00AM BW Lecere Unveils the New Face of Restaurant Management Software: The Interactive GUI of Lecere FIRMS for Wireless Handheld Devices
01/12/2010 9:01AM BW Lecere Announces Its New Web-Based Restaurant Management Software for Handheld Wireless Devices
11/25/2009 9:03AM BW Restaurant Software Maker Lecere Joins National Restaurant Association and Will Launch Nationwide at the NRA Show 2010
09/14/2009 9:02AM BW Restaurant POS and Management Software Maker Lecere Names Management Team
09/14/2009 9:02AM BW Lecere Adds Roger D. Williams – Former President of Bob Evans Farms, Restaurant Division – To Its Board of Directors
08/26/2009 9:02AM BW Broadcast Interview of Chairman and CEO James Morris of Restaurant POS Start-Up Lecere Corporation
08/21/2009 9:02AM BW Lecere Engages Coaching Restaurants LLC for Strategic Business Development in Restaurant Point-of-Sale Market
03/30/2009 8:15AM BW Lecere Corporation to Raise Over $7 Million in Private Placement


Lecere Unveils The New Face of Restaurant Management Software

The Interactive GUI of Lecere FIRMS for Wireless Handheld Devices



Lecere FIRMS showing the order status of three tables in the bar. Colors represent the delivery status of items ordered; letters indicate which course is active for each guest.


Lecere FIRMS showing the orders for a party of five at Table 4 in the Bar. Items in white have been sent to the kitchen. Items in red are "live" and may be altered before being sent to the kitchen.


  • Opinions expressed on this board are just that. Opinions.
  • Please do your own due diligence before buying or selling LCRE, there are no guarantees.
  • Please weigh  carefully  what you are willing to risk on LCRE.
  • No one is responsible for your gains or losses in LCRE except you!


    • Posts about other users and their motivations for posting here (i.e. basher, pumper, flipper) are TOU violations, and will be removed.
    • Continually posting the same or similar information will be removed.
    • Vulgarity in any manner (to include initials and characterized words) will not be tolerated and the post will be removed by any mod at anytime.
    • If you are losing money in the market, you may wish to seek the advice of a licensed securities professional.
    • If the LCRE MODS finds incorrect information, it will be removed from I-Hub I-Box.........I guess this means do your own DD



Lecere Corporation provides restaurants with software to manage and optimize the delicate balance between their resources and their customers' experiences.

It is common knowledge that even successful restaurants operate on single-digit margins. A change in revenue or expenses of just a few percent can make or break a restaurant. Increasing profit margins means reducing operating costs and/or increasing revenue by attracting new customers or reaching out to loyal ones and making them feel special.

Lecere's FIRMS (Fully-Integrated Restaurant Management Software) product helps restaurants reduce their operating costs while enhancing their customers' experiences.

FIRMS is an integrated set of Software as a Service (SaaS) modules used for optimizing the operation of restaurants on any level, ranging from the individual restaurant to multinational chain restaurants, hotels. FIRMS offers five individual, on-demand modules:

  • Point of sales (POS), with online delivery or takeout accessible via a web browser, PDA, or cell phone
  • Networked, multiple-restaurant accounting
  • Powerful online reservations capability for restaurants, accessible via a web browser, PDA, or cell phone
  • Mapping and geocoding for directions to the restaurant, display of nearby, and optimized delivery 
  • Data mining, which allows the restaurant to target selected customers for special offers



Posted by: FMV Member Level  Date: Friday, July 09, 2010 6:07:57 PM
In reply to: None Post # of 31564  Send a link via email Share on Facebook Tweet this post
Greetings to all,

I live in So Cal and sell POS Systems. Lately the deals have been less and less profitable due to price wars between Aloha and Micros. They sell the system at a low price and zap the customer in the back end with maintenance contracts.

I know Jim is onto something really cool and VERY affordable for the right application. The cost of stationary terminals is half the deal.

Just think: Mr customer, I can get you a 10 terminal system for a fraction of the cost using this new technology. WOW!

Do not listen to the negative posts, they are afraid of change and want results NOW.

Jim, keep up the good work, I believe in you and your product.

All the best,

Posted by: blackeyedinvestor Member Level  Date: Friday, May 07, 2010 1:04:21 AM
In reply to: None Post # of 23885  Send a link via email Share on Facebook Tweet this post
**** Black Eye's Prime Cuts w/e 5/7/2010 ****

I present to you some of what I consider to be key posts of the week..anyone who invests in LCRE should learn these concepts and know WHY they are important, because they are key to how the company will grow and prosper. Some of them are just good info that I hear requests for. Enjoy.

What is a Proof-of-Concept or Pilot?
Technology changes our lives...as will LCRE
iPad Marketing Genius
IaaS, SaaS and Virutalization History and Basics       (IaaS: Infrastructure as A Service)
SaaS according to darealmr                                            (SaaS: Software as a Service)
What is MultiTenancy?
Dr. Jim Morris, CEO of Lecere, discuss the company and short term goals.
Topics for future Lecere Updates from CEO
Posted by: Sexxydog Member Level  Date: Thursday, April 29, 2010 7:35:56 PM
In reply to: xoom who wrote msg# 19860 Post # of 19949  Send a link via email Share on Facebook Tweet this post
Hi...I am new to LCRE, but have been lurking in shadows in iHub for years. In case anyone is interested, here is a correspondence from Jim...

Rock on LCRE!

From: Jim Morris [mailto:jim.morris@lecere.com]
Sent: Wednesday, April 28, 2010 9:18 PM
To: Jim Clasen
Subject: Re: FIRMS


Your vision of the future is exactly the same as ours.

The platform is a large part of the difference, because of the cost. The remote units in use today run from $1500-$2500 per device and they are not WiFi. They use RF technology. And the software in these applications is locally-installed software, it is not SaaS software, so there are large up-front costs for hardware and software, plus all the headaches associated with local maintenance when something breaks. Lecere has very little up-front costs and you pay for the software monthly. No maintenance required of the customer, other than iPad maintenance.

Jim Morris
CEO, Lecere

On Wed, Apr 28, 2010 at 9:09 PM, Jim Clasen <jc@xxxxxxxxx.com> wrote:

Hi Jim, I have recently come across this company and have invested in it. I think this is a great concept that you have put into action. Having worked in the restaurant industry previously, I can see endless possibilities with this.One of these days, I see there being an LCD screen on every table for the customer to place their own order. They can order refills, extra ketchup, napkins or whatever directly from the table. Then they can pay the bill right there and leave at their convenience, not when the waiter finally comes around to pick up the payment. I think your product gets us one step closer to that.Anyway, I go off on a tangent, I guess my main question is what is the main differences between this and the units the concession vendors use walking around at an event such as a ball game or concert in a stadium…other than the obvious platform.
Thank you in advance for you time.
Posted by: sr137 Member Level  Date: Tuesday, April 27, 2010 12:06:03 AM
In reply to: None Post # of 17150  Send a link via email Share on Facebook Tweet this post
I like all the amounts of DD everyone has been doing on LCRE, I decided to look into Logic Automation, which sold in 1994 and changed to Logic Modeling.
Thought this would be important to look at what DR. James Morris created and dig up some DD on that company.
Everything I found was positive and I am more than assured of his ability to create a ground breaking product, market it, and manage the company into a major player in the restaurant industry.

The articles below more than show how large Logic Automation became. One interesting bit, is the acquiring of the President of INTEL, in what was reffered to as a "coup."

This may seem stupid to look up a company from two decades ago, but looking into a company that Morris created may give us some insight into what he has accomplished and what he is capable of.

I am buying more share in the morning. Holding Long.







some links may require an email address
Posted by: pimping wallstreet Member Level  Date: Monday, April 26, 2010 7:15:44 PM
In reply to: cbrinkley83 who wrote msg# 16954 Post # of 16978  Send a link via email Share on Facebook Tweet this post
Skepticism is always good Bro!.., especially in Pinkyland...You have to be able to shut out the noise around you and focus on your beliefs..,and trading strategy to be successful in Pinkyland...Back in January of last year I executed a position in SIRI of 100K shares at .10 at that time it was near its bottom which was .052....Bashers where Bashing and there where only a few traders on that board at that time that truly had there heads on straight..,and toughed it out...I was one of them..,only because I believed in the CEO and there product that it would make it through the recession and come out on the other side shining like Gold..,even though the float was 3.8B and I still think it is today.. There where traders on that Board that had a belief that SIRI would trade in Dollarland from where it was at that point in time which was .10 PPS!!!...I myself didn't believe it ...,come on Man!! 3.8B!! Float 1.00 PPS impossible well needless to say I Liquidated my entire Position at .55 in april of last year Dont get me wrong I believed and trusted my DD and chart analaysis but I succumbed to the noise around me and Folded...I could've covered my position..,but I did'nt..Now its nothing wrong with taking profits..,but I missed the Bigg Picture and missed out on where it is today 1.20 PPS....I said all that to say this if you have a traders mentality always follow your first instinct its usually the right one.
Posted by: up-down Member Level  Date: Saturday, April 17, 2010 11:15:42 AM
In reply to: balamidas who wrote msg# 14321 Post # of 14402  Send a link via email Share on Facebook Tweet this post
Key Points :

* Record volume Friday the stock price was up 133 %!!!

* LCRE is gearing up for the initial release of its software through its Pilot Project on 30 APRIL !!!

* A well known Restaurant to be named apparently before the 30 APRIL

* The pilot restaurant will use the Apple iPod Touch and the iPad for order entry and bar/hostess interfaces!!!

* FIRMS software support Mobile Devices iPhone (Apple), iPod Touch (Apple), Nexus One (Google), Droid (Motorola), Galaxy S (Samsung)

* DISTRIBUTION PARTNERS to be announced:
LCRE is in discussions with distribution partners who can deliver hundreds of customers to Lecere in 2010 alone

* NO more Dilution Needed per CEO as private placement investors are lining up now that (1) the product is going from SPECULATION PHASE into PRODUCTION PHASE!!! and (2) LCRE's stock is liquid and has great market interest. (who wants to invest in a company with an illquid stock)

* LCRE Reaffirms: NO REVERSE SPLIT! (03/01/2010 PR)

According to Dr. Jim Morris PhD, Chairman and CEO of LCRE, “...Lecere is focused 100% on developing its software and obtaining customers. We do not intend to play ‘pink sheet games’ with our stock now or at any time in the future....” (e-mail from Dr. Morris PhD

SUMMARY: The SUBSTANTIAL DEMAND for Lecere FIRMS™ will bring Lecere to a position of leadership in the hospitality software industry expect a substantial move on the price starting monday it is Micro Pennies Season >>>>0.005 are coming fast here !!! stocks with no stories like EKWX run from 0.0001 to 0.005 in couple of days on such volume!!! Imagine what LCRE can do with its great Story and great volume $$$$$

Posted by: cbrinkley83 Member Level  Date: Friday, April 16, 2010 3:57:20 PM
In reply to: koolmc who wrote msg# 14206 Post # of 14312  Send a link via email Share on Facebook Tweet this post
great day here, talked with jim about it this morning briefly before he got on his plane. he is only using one company for the 504s right now and hopes to get rid of them very soon. with this kind of action and the release coming the 30th, he is very confident his private placement investors lined up will be willing to put money in now. future 504s and massive dilution are no longer needed. about time he realizes that and lets the stock breath. in a side note, any of the longs here that were wondering what was up with the whole abby thing in feb, I have your answer...
holding strong and confident now that this stock will make its move. we all knew when the time would be and the time is now. just wish i would have got more 1s and 2s lol
Posted by: scriznik Member Level  Date: Thursday, April 15, 2010 5:04:05 PM
In reply to: None Post # of 13767  Send a link via email Share on Facebook Tweet this post
Double D for newbies can begin with this from the white sheet:

Lecere's focus is on integrated tableside operations, all performed on the same COTS handheld device. The day is fast approaching when a handheld device will be able to integrate point of sales, the taking of orders on a pad of paper, scanning credit cards, taking a signature, and generating a receipt. Gone soon will be the days when these operations were carried out by three different devices: (1) remotely-located terminals that required a waiter to leave their assigned area, (2) a plethora of expensive printers, and (3) dedicated credit card processors. Welcome to the world of the integrated, paperless restaurant!

Lecere sells its FIRMS software for a monthly fee. Upfront costs to get up and running with FIRMS are far less than with our major competitors, all of which sell outdated, expensive on-premises software and dedicated, proprietary hardware. None of our major competitors sells their hardware and software products for a monthly fee. The monthly fee for Lecere’s FIRMS software will be available soon, but it will be a very affordable fee that will more than pay for itself in lower labor costs and increased revenue
Posted by: up-down Member Level  Date: Monday, April 05, 2010 10:09:56 AM
In reply to: pdxinvestor who wrote msg# 12492 Post # of 13199  Send a link via email Share on Facebook Tweet this post
JM's response to pdx's questions

There are two things I would like to say in general.

First of all, we decided last October not to go to market with our initial, proof-of-concept, Java-based software. The proof-of-concept software had convinced us that SaaS would be suitable for the hospitality industry, but we felt the proof-of-concept software would not provide a stable enterprise platform for a company that wanted to be a large enterprise player. So we decided to completely rewrite the software using Ruby on Rails and Javascript/Dojo. It is not unheard of in software companies to write software twice in the early stages of a company. Consider also that when the proof-of-concept software was started over three years ago, Ruby on Rails was an unproven entity, while Java had been solid for years. The good news is that the new software will be easier to deploy, easier to maintain, easier to adapt, and more stable in the long run. This new software provides us with a killer infrastructure that existing and future competitors will find very hard to duplicate. This was a tough decision to make, but it was the right decision. It delayed us getting customers, and I have had to take a lot of flak for that, but I am pretty much immune to flak. We will survive and go on to become the leader in Restaurant Management Software.

Secondly, note that I said we would become the leader in Restaurant Management Software (RMS). This is much, much more than merely a Point of Sale (POS) system. A POS system is our first offering, but it will be only a small subset of what we will eventually offer. And our system is tightly integrated. That is very important to what we are developing, and I have articulated that in several past articles, but I am not sure it has sunk in with everybody. Lecere is not a POS company. We are an RMS company.

Focus on the brand name of our software: FIRMS, Fully-Integrated Restaurant Management Software. We did not choose that name at random.

Thirdly, because our software is not yet complete, we have not been able to approach customers with a ready-for-prime-time, deployable product. We will be able to do so by April 30, but it will probably take a month after that before our product goes live in a real restaurant setting. New software needs some hand-holding when it stands up for the first time and takes its first few steps.

1. Sales & Marketing- Current Deals

Q. It appears the BOD failed to bring any real deals to the table (please correct me if I am wrong on this one- I have been asking about it for a while). Just odd there are not clients lined up to install this with the connections from the group. Look at other PDX SAAS firms (corillian, sabrix, etc.) all had deals signed before they even became a company. Just surprised LCRE wasn’t able to do this.

A. I could have convinced twenty companies to sign deals and then announce them later. But until there is a working, deployable product, signed deals aren't worth the paper they are written on. And, by the way, Roger Williams was able to get us in the door at an enormous opportunity. Had it not been for Roger, we would never have gotten into this opportunity. Furthermore, this deal will not be signed until we have successfully demonstrated a working product in several real restaurant situations, as well as our ability to support and maintain that product. I obviously can't say anything more about this opportunity. I hope people can understand that.

Q. What really has me concerned though is that it appears the only sales mechanism LCRE has at the moment is the hope of a third party distributor. Don’t get me wrong, I LOVE the idea of additional sales channels (direct or indirect) but distributor sales are not as easy as they sound. Almost all startups have to commit to assisting in sales, paying for marketing, etc. before the distributor will take it seriously. The distributor will also mandate the software provider also be financially sound enough to ensure they will be around in 3-5 years. This is especially true with SAAS firms. What distributor will want to sell a product (service) from a SAAS firm if the SAAS firm may not be around in 12 months? This leaves the distributor open to significant client managementhassles for a LONG time. Seems to me that LCRE has to 1) get the distributor to actually add the LCRE product / service to their catalog (not easy) and… 2) will have to continually push the distributor to actually sell the product. Once the distributor has a few clients using the product and it proves to be a material profit tool for the distributor (and LCRE can prove it’s staying power), the distributor will open up the sales volume.

A. First of all, this is not a software distributor. I can't say anything more about this opportunity, but Lecere and all its advisors are certain that this is an enormous opportunity for Lecere. First we have to deliver, but we can do it, because we have done it before, several times. We need investors to trust us, be patient for another 3-4 months, and give us enough financial backing that will enable us to be financially viable. Some of the concerns in the paragraph are real, and, believe me, I deal with them every day. All we can do is forge ahead to the best of our ability and try to avoid the potholes as they come at us.

Q. What I want to know from LCRE is the following:

Q a. What is being done by the LCRE management team (Jim) and BOD to beat the trees in their own back yard? What are they doing to line up the 2-3 deals out of their own rolodex necessary to take LCRE to some degree of profitability?

A a. On Friday, we got a verbal agreement to begin talks with a first restaurant in the Portland area. Again, that is all I can say at this time. We have been beating the trees in our back yard for several months. We have uncovered numerous possibilities, but nobody will seriously engage with us until we have a deployable product. Finally, last Friday, we found out that even though we are seven weeks away from a beta product, we are ready to begin initial talks with a first customer. Even now, there is some concern we are a tad too early.

Q b. What is LCRE doing to mature the indirect sales channel and ensure the sales channel will actually sell their product? (This is not simply “sign them up”)

A b. The large opportunity I discussed above is our only planned indirect channel at this time. When we turn that channel on for real in a few months, and we will, it could almost (but not quite) overwhelm us for a couple of years. It is that big.

Q c. What is LCRE doing to establish their own direct sales channel? (including the full lead generation mechanism, method for walking prospects through the sales cycle, closing, etc.)

A c. We have no money to establish direct sales channels and our product is not ready, so a direct sales force is premature at this time. When we are ready to turn on a direct sales channel, we not only have a lot of experience with sales among ourselves, but we also have an advisor to help us in that area who was CEO of a company that went from nothing to $1 billion in sales. Do you think this guy knows anything about sales? Again, I can't say anything about who he is right now, because we have decided to keep him below the radar for a while, but he has been quietly helping us. Pdxinvestor will most assuredly know who he is.

Q d. Related to the above- what is LCRE doing to generate leads / market interest? A single presentation at an industry show is not enough. What is the marketing plan?

A d. We don't have enough money to do this right now. We are focused primarily on development. When we need to do this, we know exactly how to do it.

Q. All of you out there that are doing the “rah-rah” cheerleading, you need to know that if LCRE can’t clearly state their sales strategy and outline exactly what it will cost, how it will be paid for, how it will work, etc. LCRE is dead. Please do not take this as a bash. This is simple fact… and you need to know “a distributor with the ability to sell to hundreds of clients in 2010” is not enough. It sounds great but is very hollow.

A. We are not at this stage yet. We don't have the money to do this. When we do have the money, and we will, we will have a lot of very smart people who have done marketing plans, sales plans, etc., for the last 20-30 years of their lives. Rome was not built in day.

2. Ongoing Capitalization of LCRE

Q The other major concern that I have is the ongoing capitalization of LCRE. Getting enough money together to keep the lights on until product release may be a challenge but this is nothing compared to the challenge of funding LCRE until profitable. While SAAS is really cool (great business model) it has a significant challenge; You don’t get a large cash infusion with each sale. You earn your money one dollar at a time on a month to month basis. Let’s assume the product is done and is well received by the market at the upcoming trade show. Let’s further assume LCRE is able to sign up 50 clients right out of the gate. All great news… but LCRE will need funding for at least the entire calendar year 2010 to cover launch costs, integration costs, etc. How is LCRE going to cover this?

A. Once we have a viable, deployable product, have a few satisfied customers under our belt, have some revenue, and have proved our worthiness to and inked a deal with the large opportunity I discussed earlier, we will have much less trouble raising large amounts of capital. We have already talked to people who could supply that money. Everybody is waiting to see if we can achieve the first part of this paragraph.

Q. The often stated answer to this question for most companies is “well, if we have a lot of client contracts, investors are easy to find!” That used to be true. Capital markets are still funky and investors are much more finicky now days. This is not an easy proposition. What is LCRE’s plan here? Go back to the 504s and ask for a significant cash infusion? Go to the traditional VCs?

A. No, that is not the right answer. The right answer is "Once we have a viable, deployable product, have a few satisfied customers under our belt, have some revenue, and have proved our worthiness to and inked a deal with the large opportunity I discussed earlier, investors are much easier to find". Investment is very difficult these days. I know that better than most everybody. But when we achieve "the right answer", we will be able to raise sufficient capital.

Trust me, if LCRE has the product production ready for the trade show… there is still a relatively long and challenging road ahead. Not to say that it can’t be done but I just have not heard the solution yet.

I know the road is long and challenging. I have been there before. We're not going to make the trade show. Too much money. If any investor wants to put up a significant private placement, we will (in confidence) explain our plans in more detail, and I will disclose the things I have not been able to disclose here, but I can't announce our confidential, detailed plans to the public.

Q. Jim publicly stated that he was in process of winning a large lawsuit and would invest $$ into LCRE upon receiving his cash. I have still not heard if he won- and don’t know how much he won. Any updates here? If he puts in 1 mil to cover sales & marketing- and puts in money to bridge LCRE until it can stand on it’s own at some point in the future, LCRE has a real chance of making it.

A. I still believe I will win the lawsuit and I believe that will still be a significant source of funding for Lecere, but the obtaining of that money will probably not occur before June.

Q. I have a legitimate series of questions that I feel everyone on this board should be asking. If there are answers that I do not know, please post them publicly.

If I sound negative at all in any of my posts, I apologize. I admit that I am frustrated with LCRE due to current progress and the feeling that I was misled by Jim. All of that said, I believe in the product and in the market. I am also fully willing to admit that I may have the wrong read on him and LCRE. If I can get my questions answered to an extent that makes sense, I will put $$ back in.

A. So if pdxinvestor has any more questions, let him fire away to me.

Thanks again for your conduit help.

...Via Jim email to BIO
Posted by: biomanbaba Member Level  Date: Sunday, April 04, 2010 1:13:53 PM
In reply to: None Post # of 13229  Send a link via email Share on Facebook Tweet this post
Message from the CEO


You have my permission to post this email.

Here is a some history on Lecere, and especially the claim that Lecere could raise $7 million in funding.

I acquired Lecere when it went under the name Full Circle Image. In late 2008, I was approached by Jerry Hansen, who told me that he had knowledge of a public shell that I could use to raise investment capital. Jerry introduced me to Brady Benson, a Morgan Stanley stock broker in Minneapolis, and to Brady Benson's brother, Charlie Benson, who was the CEO of Full Circle Image.

I acquired Full Circle Image (and its approximately $1 million in debt) by putting my proof-of-concept software and my reputation into Full Circle Image for the stock I got in the company, 85% ownership. We changed the name to Lecere just over a year ago.

From the time I met Jerry Hansen, Brady Benson, and Charlie Benson in late 2008 until the spring of 2009, I was told over and over again by Brady Benson and Jerry Hansen that they would be able to introduce me to many investors who would invest as much as a total of $5-7 million of investment capital for Lecere at $0.15 per share. They introduced me to three people in the Minneapolis area who were legitimate, professional money-raisers. One of the money raisers had been instrumental in raising $85 million for a professional Minneapolis sports team. Jerry and Brady had raised $5 million of investment capital at $0.25 per share a couple of years before for a company called Indigo Energy (IDGG). Indigo was a reverse merger and then capital was raised. Jerry and Brady convinced me that they had done it for Indigo Energy, and that they could do it again for Lecere. The money-raisers said things to me like, "We'll get the job done for you."

Unfortunately, that was not to be. For what reason, I don't know to this day. The reason they gave for their inability to raise any money for Lecere was due to the poor state of the economy and the risk-averseness of investors. There is some truth to that.

I will say this in defense of the people who let me down last year. I raised $2 million of venture capital for my first tech startup, Logic Automation, in 1984. It took me a year and a half to do that. I have been raising money and/or trying to raise money for my other tech startups (some never got any funding at all) for 26 years. NEVER in those 26 years have I seen investment money for tech startups (especially software startups) as hard to raise as it has been in the last 3-5 years. I don't see this changing anytime soon. The impact this lack of investment capital will have on the American economy and the standard of living we enjoyed in the 70s, 80s, and 90s will be devastating to future generations. And the federal government has been doing its best to ensure this devastation will be permanent. It is pretty much over for the American dream.

In August, 2009 Brady Benson did invest a total of $136,000 into Lecere as a private placement. At about the same time, I was able to start raising 504 money. The only money we have been able to raise since last August has been 504 money. Whatever the iHub investors might think about the evils of 504 investors, just know that Lecere would not be around today if it were not for the 504 investors.

Lecere is making good progress. We are getting close to announcing an evaluation project at our first customer. Our software is progressing very nicely and will be released on time on April 30. The critics will be soon be silenced.

Jim Morris
Posted by: biomanbaba Member Level  Date: Sunday, March 28, 2010 4:56:07 PM
In reply to: None Post # of 13230  Send a link via email Share on Facebook Tweet this post
Sat, March 27, 2010 10:40:34 PM
From: Jim Morris <jim.morris@lecere.com>

There is no doubt that SaaS is here to stay. There is no doubt that the world is moving rapidly to the use of handheld devices for just about everything we do: talking on the telephone, getting and sending email, browsing the Internet, getting directions, buying and reading books, etc. The list is almost endless. And very soon Lecere will add ordering food, scanning credit cards, and making dining reservations, just to name a few, to the list of hospitality industry applications.

It was Lecere's original proof-of-concept software that proved the Internet was fast enough to handle POS applications. A couple of years ago, most people told me the Internet would not be able to provide the response time to allow SaaS to be used for POS. I proved those people wrong with my proof-of-concept software. Now we are almost finished with the most advanced and most modern enterprise software in the world for the hospitality industry. We may have fallen too far behind? In fact, the rest of the hospitality industry is on the verge of falling too far behind Lecere!

Our software is unfinished, but when I look to my left and to my right these days, I don't see anybody running along beside me. I hear some big talk, but it will be very difficult, if not impossible, for large, entrenched companies to transition from an on-premises business model to an on-demand business model. Lecere doesn't have to deal with legacy software, legacy hardware, or a legacy business model. That is a huge advantage for us going forward.

And finally, anybody who knows anything about software development will tell you that the only way to develop a really sound software infrastructure for a web application is to have exactly one very experienced, very productive, very capable software developer doing the initial development work using agile development methodology. If we had hired a team of 4 or 5 developers last October, we would not be as far along as we are today and we would not have a product as sound as the product we have today.

About funding, we can't raise enough money today to get anywhere near 25 billion shares outstanding. When we start to get some real traction in the next 2-3 months, I predict our stock price will go up pretty significantly. So as we start to raise significantly more money, we will be doing it at a higher market cap, and thus dilution will be significantly less than it is at today's very low market cap.

I have said there will be no reverse split, and I meant it. There will not be a reverse split until our stock has had a long upward trend, and I don't expect that to occur until after the first of the year at the earliest.

Jim Morris
Posted by: Smooth Member Level    Date: Wednesday, January 06, 2010 10:15:17 AM
In reply to: None   Post # of 13206  Send a link via email Share on Facebook Tweet this post
Email to CEO Jim Morris & his response to me:

On Tue, 2010-01-05 at 22:36 -0500, XXXXX wrote:

> Jim, Don't know if you read IHUB, but a lot of posters there are
> stating you are a "crook." Is there anything you can say or do that
> would help stabilze the stock price? The way this is looking and
> acting, it's a classic dump and dilute and reverse split. Just
> remember what goes around, comes around. I hope to hell you know what
> you're doing. Too late to sell now.
> Good luck…we'll need it.

His response:

On Tue, 2010-01-05 at 20:38 -0800, Jim Morris wrote:
> Sigh.
> Have you ever heard of Google? A few years ago, Google was nothing
> more than a crazy idea in the heads of two Stanford graduate students.
> They developed a business plan, they got investment capital, they
> developed their product, they created a brand, and they got busy
> trying to figure out how to monetize an idea that started with a
> better mousetrap for Internet search engines. For many months they had
> no revenue and no customers. They didn't even know how to monetize
> their idea for at least two years, maybe longer. In the meantime, they
> burned cash and then they burned more cash. When they ran out of cash,
> they went and got more cash. Then they burned that cash. And, again,
> they went out and got more cash.
> Why do you think the investors who put millions and millions of
> dollars into Google over a period of several years continued to dole
> out money to Google? The answer is because they believed in the basic
> concept and the people and because they were PATIENT. The Google
> investors knew that the Google people were not going to get it right
> the first time or even the second time. But the investors stuck with it and they were patient.
> And look at where they are today. The returns that the early investors
> in Google realized were beyond obscene.
> Google "John Doerr". John Doerr was one of the early supporters of
> Google when he was at KPCB. Google was not the only company that John
> Doerr supported, there were several others (Sun, Amazon, Netscape,
> Compaq, Symantec, and Intuit, for example).
> Do you know how long Paul Allen and Bill Gates struggled in obscurity
> in their quest to build Microsoft from a two-bit loser into one of the
> most powerful companies in the world? About fifteen years.
> We at Lecere are trying as hard as we can to build the next Google or
> the next Salesforce.com or the next eBay or what have you. We are
> classic capitalistic entrepreneurs: we want to build a great company
> and we want to become obscenely rich.
> So ask yourself this one simple question: Why would I or anybody else
> on Lecere's team want to settle for the piss-ant little profits we
> could make on a dump and dilute and reverse split (whatever the hell
> that is) with a company that today has a market cap of about
> $500,000!! The kind of money we could make from that kind of
> ridiculous little children's game is mice nuts to us. We are after big game.
> The Lecere team knows precisely what we are doing. Between us, we have
> been involved in about ten tech startups. Not all of them were
> successful, because they never are, but we also made quite a few
> investors rich along the way.
> So just be patient. Like John Doerr. We have at least two triggering
> events that are 60-90 days out in front of us, either one of which
> should give Lecere enormous traction. I can't say much about one of
> the events, but suffice it to say that we are looking for a large
> company to distribute our product for us. If we find such a company,
> we will be kicking ass and taking names. The other potential event is
> the lawsuit that I will almost surely win within 90 days. I will
> invest a significant amount of that recovery in Lecere, and I will be
> buying stock on the street. I am chomping at the bit to be able to get
> some Lecere stock at the prices we see today. I am going to make huge
> returns on that investment alone, and I will be laughing at the people
> who called me a crook all the way to the bank.
> Jim Morris



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#44027   A 2008 post, that's the best you can hotmeat 05/16/21 11:41:52 PM
#44025   Jim Morris is a filthy dirtbag. JesusChristSuperstar 06/14/19 05:22:14 PM
#44023   LCRE SEC Suspension: Renee 06/26/17 09:36:56 AM
#44022   This should be a very clean shell. bucks2pennies 12/13/16 04:01:33 PM
#44021   Jim Morris is a scumbag. JesusChristSuperstar 03/25/16 01:14:57 AM
#44020   LCRE was a scam from day one. Eliot Ness 03/05/16 10:59:15 AM
#44019   There was nothing legit about LCRE. They had JesusChristSuperstar 03/03/16 07:26:22 AM
#44018   This company was legit. I was even able Tenacious 12/07/15 03:21:49 PM
#44017   Courtney, The U.S. Trustee for Southern California Bankruptcy Court Volleyball Coach 09/14/15 04:15:00 PM
#44016   Lecere Corp (LCRE) is "new" according to how bucks2pennies 09/11/15 02:29:49 PM
#44015   Any idea what's happening here? Happened to notice malekabal42 08/10/15 11:54:35 PM
#44014   Hello. Can you tell me some email via riversong 11/29/14 04:10:00 PM
#44013   Hey Courtney, I do not read this board money8547 10/17/14 10:49:34 AM
#44011   I just posted something new regarding Morris of Courtney Miller 10/12/14 01:01:29 AM
#44010   No one wants this jerk more than I Courtney Miller 10/12/14 12:58:01 AM
#44009   word is spreading dmb17 09/21/14 02:38:11 AM
#44008   word is spreading dmb17 09/20/14 09:42:20 PM
#44007   No it couldn't have been lecere because this malekabal42 08/28/14 12:19:18 AM
#44006   Seems to be involved with an international cartel XenaLives 06/14/14 12:20:20 AM
#44005   Would love to know of management or major XenaLives 06/14/14 12:18:14 AM
#44004   I am thinking about buying the shell, and Jamesacc201 05/06/14 01:23:52 PM
#44003   Hey james or anybody still out there, I money8547 05/05/14 11:10:30 AM
#44002   Dude.. Go long ... Go looooooooooooooooooooooooooooooooooooooooooooooooooooooooo Jamesacc201 05/05/14 12:00:52 AM
#44001   I still have 10 share of this POS XCharts 05/02/14 04:17:15 PM
#44000   $LCRE up 718% on 10 shares LOL!! MACH1 05/02/14 10:33:59 AM
#43999   The stock is going to take off any Jamesacc201 04/21/14 03:04:26 PM
#43998   Glad co.'s go after evil like this. narvo0 02/17/14 04:14:36 PM
#43997   Oh well. Given personal computers this past year Tenacious 01/06/14 08:53:45 PM
#43996   Saw this today on Nations Restaurant News... Zchef 01/03/14 02:01:29 PM
#43995   what a jerk.. hope someone hunt him down plastkort 10/17/13 05:02:27 AM
#43994   wow lcre still around SmarTrader 03/27/13 09:00:41 PM
#43993   agreed. surge1k 02/04/13 04:31:38 PM
#43992   Lecere was Dissolved in Minnesota on 8/1/2012 buddyboy13 01/25/13 09:56:21 AM
#43991   Morris stole a boatload of technology from LCRE beachpilot 09/11/12 01:46:03 AM
#43990   http://www.mobilepointofsales.com/index.html riversong 09/09/12 08:51:39 AM
#43989   http://www.marketwire.com/press-release/mpos-complete-wireless-pos-system-brings riversong 09/09/12 08:36:07 AM
#43988   Jim is no longer with LCRE, I emailed Fritz 09/01/12 03:27:48 PM
#43987   Pardon me for interrupting but if Lecere did PoorNoMore 08/29/12 02:03:27 PM
#43986   I can see that being a viable argument. jellogan 08/28/12 10:30:58 AM
#43985   Remotely possible, Jellogan. It is more likely that Renee 08/28/12 10:29:58 AM
#43984   Foreign Issuers jellogan 08/28/12 10:16:56 AM
#43983   Renee - i don't have PM. however, jellogan 08/28/12 10:06:37 AM
#43982   i dont even know how to feel on jellogan 08/28/12 09:49:25 AM
#43981   DTCC / The Depository Trust Company Renee 08/24/12 06:50:07 PM
#43980   And, of course, Renee, I meant that in Tenacious 08/23/12 03:17:33 PM
#43979   Well, it's all coming together. Renee is the Tenacious 08/23/12 01:51:03 PM
#43978   Yeah, I have two bags for micro stocks Tenacious 08/23/12 01:49:58 PM
#43977   LCRE referenced in SEC litigation. Renee 08/23/12 11:17:42 AM
#43976   LCRE: U.S. SECURITIES AND EXCHANGE COMMISSION Renee 08/20/12 05:35:55 PM
#43975   I'm thinking that www.lecere.com is an empty shell Balanced Attack 08/13/12 10:52:18 AM
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