S A M Trade Asia Pte. Ltd. (SMFX)

[chemist72]

SMFX finally hit 0001 today -

Consigned to the shit-pile of totally worthless stocks.

[CaoPanShou]

No boom today...

[AprilFool]

Up 225% today on just one trade!!

Lol! Ya think maybe this about to boom?

[exisnet]

I agree you have worked very hard digging up information we otherwise would not have seen.

If put together a list with links or documents I'll stickie it above. Please note statements without a links/documents just opinion. ty

All my writing here is backed up by fact and is not an opinion. The report from the management appointed by the court has confirmed everything I wrote here (even before they where closed down).

[AlexR1]

All my writing here is backed up by fact and is not an opinion. The report from the management appointed by the court has confirmed everything I wrote here (even before they where closed down).

[exisnet]

Everyone has an opinion, best back up any statements with some kind of information back it...

Why post about active clients if not active? Same bs over and over, best just let the facts speak imo

The company is not active, the only thing going on is the interim management trying to figure out how things has gone so bad and the judge will liquidate it after that.

So again, as 8f end of December 2021:
No registration can take place
No trades can be placed
No deposit or withdrawal can take place

Samtrade has no trading software, their contract 2as terminated by metaquotes.

[AlexR1]

The company is not active, the only thing going on is the interim management trying to figure out how things has gone so bad and the judge will liquidate it after that.

So again, as 8f end of December 2021:
No registration can take place
No trades can be placed
No deposit or withdrawal can take place

Samtrade has no trading software, their contract 2as terminated by metaquotes.

[exisnet]

must be bursting bubbles that company still active and hasn’t folded…

“The active clients was before the company closed down end of December, not a single trade has taken place since than..so "Active clients" is inactive clients, or in reality it's people waiting to get their money that the company has failed to pay them.

Nothing positive about that.

And no, they didn't have over 100.000 traders before, they had over 100.000 people participating in a copytrade Ponzi scheme, so no value at all in that.”

[AlexR1]

The active clients was before the company closed down end of December, not a single trade has taken place since than..so "Active clients" is inactive clients, or in reality it's people waiting to get their money that the company has failed to pay them.

Nothing positive about that.

And no, they didn't have over 100.000 traders before, they had over 100.000 people participating in a copytrade Ponzi scheme, so no value at all in that.

[exisnet]

Company still has over 100K clients, it was my understanding should've been BK by now... That's how...

Explain in detail how it’s a positive update? Please.

[Bearslayer]

Explain in detail how it’s a positive update? Please.

[exisnet]

I didn't say it was a positive point but agree it's a positive update.

How is that a positive point?

[AlexR1]

How is that a positive point?

The only point that is important is that the company is missing over 75% of their clients money.
Average customer debt: 7300
The company has around 2000 to pay

Each one of samtrades client will lose an average of minimum 5000 dollar

They will not survive

There is no value in their customer database, no one wants to buy a company that only have a Ponzi reputation. The few normal clients they had has moved to other more secure brokers months ago, and they will have learned their lesson (hopefully).

[exisnet]

Point is they have over 100K clients…

[AlexR1]

Yes, 118000 was tricked into a Ponzi scheme..it's wooow

Now they will receive 20% of their money, if they are lucky..the company is not surviving.

[exisnet]

Wow… 118K active clients…

“Numbers has appeared on Samtrade from the IJM report!
Active clients 118.000
Customer Debt 875.6 million USD
Total assets: 269.5 million USD

The company lacks almost 600 million USD!”

[AlexR1]

Numbers has appeared on Samtrade from the IJM report!
Active clients 118.000
Customer Debt 875.6 million USD
Total assets: 269.5 million USD

The company lacks almost 600 million USD!

[exisnet]

I think we have an accumulator…

[AprilFool]

A 570% jump this afternoon, looks like 1 buy of 500 shares late in the day.
I’ve been here since PFMS and I ain’t selling for a 99% lose. Maybe they will sell the shell.

[exisnet]

Another buy today… ask slap…

[exisnet]

Just incase some do not know: OTC is a market place where the risks are high and the reward is just as high... $80 investment could turn into $40K or turn into .40 cents...

yes, that was a great investment of $80...very slick buyer.

The seller, could have sold it for $800 when you wrote it was better to keep it and write it off as a loss, instead of $80 now..

[AlexR1]

Delay on court ruling, they found a lot of new irregularities that they want to ask the owners about to understand how things got so wrong.

The new timeline is:

*Dates may subjected to changes

Feb 10 - court directed IJMs to file a report on Mar 25

Mar 18 - IJMs requested court to amend deadline of IJM report and timeline

Mar 22 - court granted IJMs' request and approved ammended timeline

Mar 25 - IJMs to circulate relevant extracts of IJM report to directors

Apr 8 - directors will provide comments on IJM report

Apr 22 - IJMs will file IJM Report and will notify creditors

Apr 29 - creditors who wish to obtain a copy of the IJM report will make a request

May 6 - IJM report will be provided to creditors who requested

Jun 3 - creditors file reply affidavits in JM applications

Jun 24 - Samtrade shall file final reply affidavit (if any)

Jul 8 - written submissions and bundle of authorities for the JM applications (if any) shall be filed, exchanged and tendered to the court

- Samtrade shall submit an attendance list and time bank setting out the estimated amount of time that each party will require for oral submissions at the hearing

Jul 18 - full day hearing for JM Applications

Jul 5 - creditors who wish to attend the hearing must inform Rajah & Tann

[AlexR1]

yes, that was a great investment of $80...very slick buyer.

The seller, could have sold it for $800 when you wrote it was better to keep it and write it off as a loss, instead of $80 now..

[exisnet]

We have a slick buyer... placed a bid .22 for 3958 shares and filled now bid is creeping up...

[exisnet]

I'm watching closely, Please produce the statement I made this is a good investment in the current situation.

I will say again: if this turns around the potential is massive... I can afford to lose my investment money as in all my OTC investments... To me it's worth the risk buy more to get the potential reward...

When I feel like buying more I will... until then, we all wait except I have shares...

Enjoy the weekend.

I am surprised that exisnet not is buying every share there is, value is around 20k and he seems to be sure it's a great investment.

[AlexR1]

I am surprised that exisnet not is buying every share there is, value is around 20k and he seems to be sure it's a great investment.

[CaoPanShou]

Somebody thinks highly of this one...

[exisnet]

$SMFX adding under 100K MC...

[AlexR1]

I think my due diligence presented here has shown to be a lot more correct than yours for example ;)

[exisnet]

Oh, in that case it’s gotta be true… cleared up now…

‘I have sent you sufficient data a number of times, that you don't want to connect the dots is a different story.’

[AlexR1]

I have sent you sufficient data a number of times, that you don't want to connect the dots is a different story.

[exisnet]

If can prove please do... Look at the Clinton Foundation...

Successful business?
A business built to be a Ponzi scheme..

Samtrade is a scam in its business towards its customers

It only went public to seem more credible, nothing else



Scam from day 1 until the end

[AlexR1]

Successful business?
A business built to be a Ponzi scheme..

Samtrade is a scam in its business towards its customers

It only went public to seem more credible, nothing else



Scam from day 1 until the end

[exisnet]

Singapore MAS knew about and allowed SamTrade to operate unlicensed is an indication the operation wasn’t out to scam.

MAS warned Sam not take on new clients but they did and took on over 200K new clients. This massive increase pissed off the MAS to the point of arrests and investigations.

Sam purchased this shell to grow his successful business not to scam it away. imo

‘Their English and Australia license was/is not licenses that give them right to handle investors money, only handle payments like a corner Forex shop where you exchange your money before you go on a holiday...
That's like a scam to me’

[AlexR1]

Their English and Australia license was/is not licenses that give them right to handle investors money, only handle payments like a corner Forex shop where you exchange your money before you go on a holiday...
That's like a scam to me

[exisnet]

Yes, Reverse Merger -
No shares dumped -
Who was scammed?

Here

Facts are not out, all we know is Samtrade operated without a License in Singapore after being warned not take on new clients...

Can you please explain yourself a little better?
New startup?
Nobody scammed?

I guess you refer custodian as a holding company, or do you try to say something else?

[AlexR1]

Can you please explain yourself a little better?
New startup?
Nobody scammed?

I guess you refer custodian as a holding company, or do you try to say something else?

[exisnet]

$SMFX was a custodian play, new startup no dilution, no body was scammed…

‘ Investors do due diligence and don't buy shares like this one...no offense, but the signs of a scam was all over it, and i tried to point you towards that. ‘

[AlexR1]

Investors do due diligence and don't buy shares like this one...no offense, but the signs of a scam was all over it, and i tried to point you towards that.

[exisnet]

This situation is a good example why should only invest funds in the OTC willing to lose… Traders that need their money will take massive losses for peanuts… Investors willing take a complete loss are willing to wait it out…

This situation isn’t as grim as some want us to believe. There’s a buyer @.15 and a buyer bought .17 today… Shorts are smartest traders on the planet, if they are covering it’s good news… if not, could be an insider buying… gl

‘At the moment we can only make assumptions, this share can go to zero, how it can recover, so far not all is lost.’

[arttrading]

At the moment we can only make assumptions, this share can go to zero, how it can recover, so far not all is lost.

[exisnet]

Selling with MC under 200K is stupid... if this does fold the tax credit is worth it vs waiting for all the facts possible recover. Investing is individualized, what's right one can be wrong for another...

Investors that use their brains sell and move on when they realise that they sit on a losing stock.

[AlexR1]

You do the right thing!

Investors that use their brains sell and move on when they realise that they sit on a losing stock.

It's better to have something than nothing.

[exisnet]

That’s the point, no body sees it until happens… yes, go with gut… Traders able sell above .50 fortunate others still holding better off holding… gl

‘<not give in too early>
I use that approach when I see a path forward or some light at the end of the tunnel.

In this case I see neither. At least for a couple of years as Bearslayer has pointed out in his last post.

Best of luck to you with your approach to SMFX.’

[chemist72]

<not give in too early>
I use that approach when I see a path forward or some light at the end of the tunnel.

In this case I see neither. At least for a couple of years as Bearslayer has pointed out in his last post.

Best of luck to you with your approach to SMFX.

Probably won't be posting here anymore, at least until I see something positive happening with this ticker.

[exisnet]

Another lesson could be not give in too early…

‘Lost a lot with SMFX. But learned that you can't assume all custodian plays will be winners. An expensive lesson for me to have learned.’

[chemist72]

Lost a lot with SMFX. But learned that you can't assume all custodian plays will be winners. An expensive lesson for me to have learned.

[Bearslayer]

This will go into court appointed receivership or bankruptcy. A trustee will be appointed and it will take two years or so to sort out. The shell will be locked up until there is nothing left of value then left for dead. That’s when DL or another vulture will swoop in and take it over again. Get it current and then sell it again.

I’ll wait for this all to be over before getting shares again. Too much time will be wasted with the delisting and legal wrangling.

Hope others can sell what they have and get some cash back.
I thought this would turn out to be a good stock. Wrong again I guess.



Aimho

[exisnet]

Place a request to remove worthless shares from the account via broker...
No concern about being 'stuck' with worthless shares...

Or perhaps to "Caveat Emptor". In either case, this ticker will be very difficult to either buy or sell on either tier.

[chemist72]

Next downgrade will be to the expert market.

Or perhaps to "Caveat Emptor". In either case, this ticker will be very difficult to either buy or sell on either tier.