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Samtrade FX is registered and regulated by FINTRAC(Financial Transactions and Reports Analysis Center of Canada) under Money Services Business (MSB) with registration number: M19977589.
That sounds great, makes you think that the broker is regulated in a Tier 1 region, but Fintrac has absolutly nothing todo with checking up on a broker.
The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) is an agency of the Government of Canada responsible for facilitating the detection, prevention and deterrence of money laundering, terrorist activity financing and other threats to the security of Canada
Samtrade registered with them, and are very happy to make it sound as if they are regulated in Canada..In reality they are only registered and not checked up on at all..
What is samtradecustodian?
From their webpage:
Samtrade Custodian has a robust governance and custodial framework to ensure your client monies are securely safeguarded to provide an assurance to your clients that funds received are placed with a custodian with proper framework and functions.
It would have been nice to know what they concider robust governance, if its where the company is located in St Vincent, then good luck..the governance is non existent.
Singapore has put samtrade on their alert list:
https://www.mas.gov.sg/investor-alert-list?page=1&q=Samtrade%20FX
Samtrade have given an impression of being licensed in Singapore, and that was not correct.
samtrade no longer has a UK licence
register.fca.org.uk/s/search?q=samtrade&type=Companies
Is he still onboard?
He removed any mention of samtradefx on his linkedin page, seems like he run away?
Please let me know what makes this company credible enough to invest in it?
Since you have done your DD i am sure you can point out why this is a winner!!
Dyason is really doing a bang up job, good thing they brought him on board!
Who are you ? Sam’s ex wife? Gees. Nobody cares. We all have done our DD here. Your wasting your time spammer.
BOL.
Samtrade is member of financial comission who is a third party supervision that they behave and can help out with customer complaints.
Interestingly enough fin888 that is a copyservice and Introduction broker to samtrade is alerted as a ponzi scheme on their page:
financialcommission . org/2020/12/16/scam-alert-updated-warning-list-3/
after trying to go to fin888groups homepage, it was removed ad replaced with a new one fin888forextrading dotcom
on their page they keep writing that they in no way are related to samtrade, but how is that possible that samtrade would accept to handle all transactions for a ponzi, and help them with manipulated trades to ensure profit on their trades every day?
Also ask yourself, why would samtrade accept all these extremly profitable trades that will cost them a lot of money every day they trade?
Since all these trades are at non market rates, its impossible that they can sell them on to a third party liquidity provider.
Sam has or will have 90mm shares...
I have adopted strategy #4.
4) Buy and wait
Only 3 choices as I see it.
1) Keep holding all your shares and hope Sam provides some clarifying info "in the near future".
2) Sell all your shares. Take the tax loss credit and move on.
3) Adopt a compromise position between #1 and #2.
I have adopted strategy #3.
I would recomend you to do a little detective work on Samtrade FX, the company has a risk of being a Ponzi scheme.
Their biggest product is a copytrade product called copysam, people deposit money to them and follow someone elses trades and win or lose if the person they copy is skilled enough.
This all is common, etoro and many other brokers offer the same service, however samtrade has a copyservice called fin888, this service brings constant monthly profits of 10% or more to its investors, and it has done so for years.
You can see the growth/month here:
https://www.myfxbook.com/members/ositek/fin888/6083397
That would be amazing if you are a customer, but it would be horrible if you are the broker unless you can pass that risk pn to a liquidity provider, and many brokers do but that only works if your prices is in line with the market in general.
i and others have compared the prices taken at samtrade and they do not match the prices on the market, they are rigging the prices to give fin888 a profit that can bring in more people to the ponzi and make sure that people leave their money in their accounts since they dont want to lose that 10% per month profit.
Be very careful owning this share, the risks are monumental and this is just a way the owner try to make it legit.
you can also look at licences, there is no valid trading/broker licence.
Only 3 choices as I see it.
1) Keep holding all your shares and hope Sam provides some clarifying info "in the near future".
2) Sell all your shares. Take the tax loss credit and move on.
3) Adopt a compromise position between #1 and #2.
I have adopted strategy #3.
I agree completely ... But , what to do ? Wait ? Frustrating to say the least .
Stay safe >> M
Agree that Sam has created, purposely or not, a gigantic puzzle as to what his exact intentions towards SMFX are.
There's a danger here of "overthinking" this situation, given the lack of clarity regarding goals or aspirations.
I'm thinking those of us trying to understand what is going on with SMFX are just banging our heads against the wall. At this point I'm so frustrated with the lack of communication with shareholders, I am probably going to stop posting on the board until Sam communicates something to SMFX shareholders.
I can understand Sam not wanting to enrich penny stock players who (likely) originally owned most of PFMS's common shares. But by now, I would assume that most of those players have sold their reverse split shares to others like you and I who still believe that Samtrade FX is a viable investment for the mid- to long-term.
But without knowing anything that is going on in Sam's mind, it becomes almost impossible to keep holding these shares with no outcome even remotely discernable at this point.
Sorry for the venting, but I just don't understand what it is that I am holding.
Also, samtrade sea pte (the merger) has been the owner of the preferred shares A-1 since the purchase from lazar. Of which Sam is 100percent owner. So now, I’m assuming Sam takes the 90 million common and the 20 million preferred must be given up?
Also under the latest filing if you look under affiliates you will see not only (sea) but also samtrade fx limited (the brokerage). Could be considered an affiliate only because Sam is director of all corps. Not sure.
Lastly,
Under Note 9.
Note 9 – Subsequent Event
On October 01, 2021, the Board of Directors of S.A.M. Trade (Asia) Pte Limited, a Nevada corporation (“SMFX”) and 100% owned subsidiary of the Company, approved and finalized a Share Exchange Agreement (“Share Purchase Agreement”) with S.A.M. Trade (SEA) Pte Limited, through Goh Nai De (“Goh”), the controlling shareholder of SMFX. Pursuant to the Share Exchange Agreement, SMFX will own all of the issued and outstanding equity of SFXL, the Owner will be issued 90,000,000 shares of SMFX (the “Common Stock”), representing 99% of SMFX’s outstanding shares of Common Stock (the “Share Exchange”), calculated post-issuance; and SFXL will hold no common shares of SMFX, as the wholly-owned subsidiary of SMFX. The transaction will constitute a reverse merger.
If you go back to the table in the filing you would think that sfxl would mean samtrade fx limited as listed. Which is the brokerage.
So all of this is confusing because (sea) is also a new company and we have no idea if they generate revenue either. Seems it may have just been a vehicle for Sam to restructure the shares? But why get rid of the preferred? If they were going to a big board the ratio would never be approved by anyone towards an uplist as they aren’t liquid for trading.
Sam needs to become a better communicator towards his shareholders. Whom so far he has shown no regard.
Thanks. Must have missed the word "will".
Guess that answers my question.
The verbiage says the share issuance was approved and "will be" issued. It just hasn't happened yet. But be certain ... It will happen.
"Transfer Agent Verified" OS is "Outstanding Shares 922,330 10/15/2021".
https://www.otcmarkets.com/stock/SMFX/security
I understand that Sam's 90M shares are his "control shares". But I don't understand why those shares are not counted as part of the total outstanding shares (OS).
If anyone can explain this to me, I would appreciate it greatly.
Can someone help about the 90,000,000 shares will be diluting the current SMFX O/S?
Thanks in advance
What I don’t get is why the quarterly financial posted on August 29, 2021 said that
———
“On July 29,, 2021, the Board of Directors of S.A.M. Trade (Asia) Pte Limited, a Nevada corporation (“SMFX”) and 100% owned subsidiary of the Company, approved and finalized a Share Exchange Agreement (“Share Purchase Agreement”) with S.A.M. Trade (SEA) Pte Limited, through Goh Nai De (“Goh”), the controlling shareholder of SMFX. Pursuant to the Share Exchange Agreement, SMFX will own all of the issued and outstanding equity of SFXL, the Owner will be issued 90,000,000 shares of SMFX (the “Common Stock”), representing 99% of SMFX’s outstanding shares of Common Stock (the “Share Exchange”), calculated post-issuance; and SFXL will hold no common shares of SMFX, as the wholly-owned subsidiary of SMFX. The transaction will constitute a reverse merger.”
And then the quarterly financial posted on October 15, 2021 stated that
———
“On October 01, 2021, the Board of Directors of S.A.M. Trade (Asia) Pte Limited, a Nevada corporation (“SMFX”) and 100% owned subsidiary of the Company, approved and finalized a Share Exchange Agreement (“Share Purchase Agreement”) with S.A.M. Trade (SEA) Pte Limited, through Goh Nai De (“Goh”), the controlling shareholder of SMFX. Pursuant to the Share Exchange Agreement, SMFX will own all of the issued and outstanding equity of SFXL, the Owner will be issued 90,000,000 shares of SMFX (the “Common Stock”), representing 99% of SMFX’s outstanding shares of Common Stock (the “Share Exchange”), calculated post-issuance; and SFXL will hold no common shares of SMFX, as the wholly-owned subsidiary of SMFX. The transaction will constitute a reverse merger.”
Basically one document says that the SAE for 90,000,000 shares was completed on July 29, 2021; and then the other document says that the SAE for 90,000,000 shares was completed on October 01, 2021….
Anybody else notice this???
I'm mistaken; Financial Services Authority:
2nd Floor, Reigate Building
P.O. Box 356, Kingstown
St. Vincent
West Indies
SamTrade putting together a holding company with ticker SMFX... I suspect SMFX will be the hub... Enjoy the weekend
FINANCIAL SERVICES AUTHORITY is in the UK...
Not UK...
Here is the UK corporation
https://s3.eu-west-2.amazonaws.com/document-api-images-live.ch.gov.uk/docs/yXK99EdbRD_tHBZWEhwEHnoJliJK1VvcnQXvFT-c8Mc/application-pdf?X-Amz-Algorithm=AWS4-HMAC-SHA256&X-Amz-Credential=ASIAWRGBDBV3EKUACAXY%2F20211015%2Feu-west-2%2Fs3%2Faws4_request&X-Amz-Date=20211015T194448Z&X-Amz-Expires=60&X-Amz-Security-Token=IQoJb3JpZ2luX2VjENb%2F%2F%2F%2F%2F%2F%2F%2F%2F%2FwEaCWV1LXdlc3QtMiJGMEQCIHvR58STFruJ2QWft2ZePB3CktvuqqwrMEYacVgYNX6aAiBGmx75mZZ0ulGEekM3gGKQT7bmfWWXh7McYQn8CiD0Xyr6AwhfEAMaDDQ0OTIyOTAzMjgyMiIMCb%2FS5F7npuEj2VMqKtcDcAHKycp22uTdsiV2WbHuOnpjUWgAPhwdfyqffFuNLOD1gbdGAbDxU4Aovlo8AkfEmy%2BRijQfdXyT%2FaQVnCsr9s25rlrpShp%2BOyoS%2FIz1e05SoMvSMSDtmTNEEZuEAjuIm1pFDPcyDvbfp9I3%2B4FEGMMp59nxrj1NMDXQk8pj0mrJU%2FUjuApCHITSWOPoQkm7R21%2B45DnPcr7FsCR9OulTQpn9ASp14Dn077B9pO2RiToeWKH2ST7XbqPvojqtX2dmStxg3C7vnX%2BcposmYo%2F7mVmSDLQWxoKZJzuZbmkwb7h%2BlLXolaFwTJOqX9JgypinWs52jUwzV8GHR8feziKkRwxAOB4RQA9um%2By%2FCNQCrCcq4nHBQR4fcXONwX1dWbF6gTI3voAl%2B27AthefVFQcHwKFeo211croAQ8X%2FCTJ4H6y1bFqj7SqkM75nSDMJAod%2Bljob2eD1i3UQUPmup1CpX7xdzojacc4lMmwuqD8eqEqmkgjFxJ2RDPoG5FnRrlogs3pbb71GKtwylFAMhiAugFvMc2ntOtDIWewMPiQbGbmJcPlBe4uP13CX71ZamFvhdr52dFY2HY9Gf%2FnYjnc5yAHyglv79zeFo4SF4Bs6vP6g%2Fj4y8mMOuJposGOqYB7RXIvlAxoQNwY855jZIaPt03fYxstugDWnVij%2Fv5Z8YE%2BlnhlqD7rXpiIAFCbw81F9F6ukt8jmKZd9LRhWk%2Bn%2FQDExQ6FAEYbm9jmniksqPWLbel1oKSLEEOYVNcnS%2BM78AGlmf6rX4kpDPiNrc0%2BF6NI3n6k1L5uGUjXNXyw7rTIh8jZ0riKDL7jrH9%2FFrDy6OsdsFn%2FClW7Hnhni7hlmwoQsK5oQ%3D%3D&X-Amz-SignedHeaders=host&response-content-disposition=inline%3Bfilename%3D%2212673800_cs01_2021-07-24.pdf%22&X-Amz-Signature=0c3793076881e058b69033b7c2da8b7e44a46ae7620e046d73b19ef18c0a259c
Registered office address
20-22 Wenlock Road, London, England, N1 7GU
Company status
Active
Company type
Private limited Company
Incorporated on
16 June 2020
Accounts
First accounts made up to 30 June 2021
due by 16 March 2022
Confirmation statement
Next statement date 15 June 2022
due by 29 June 2022
Last statement dated 15 June 2021
Nature of business (SIC)
70221 - Financial management
70229 - Management consultancy activities other than financial management
Previous company names
Previous company names
Name Period
SAMTRADE UK INTERNATIONAL LIMITED 16 Jun 2020 - 07 Sep 2020
https://find-and-update.company-information.service.gov.uk/company/12673800
Samtrade has a Business Presence at 8 Countries, Perhaps The business listed in the FINANCIAL SERVICES AUTHORITY is for the UK...
FUNCTION & ROLE:
The Financial Services Authority was established on November 12, 2012 by an Act of Parliament, the Financial Services Authority Act, which established a single regulatory unit with the responsibility of regulating certain entities and businesses in the financial sector and provides for regulated matters.
The Financial Services Authority was created by Parliament to institute a new system to manage, direct control and supervise the international financial services industry and domestic non-bank institutions in this country.
Looks like a name/registration needs be updated or Sam has more than brokerage... An update from Sam will be appreciated. ty
Name RegistrationNo Status BusinessType Agent
SamtradeFX Ltd. 25290 Active BC-Business Company EURO-CARIBBEAN TRUSTEES LTD
From the filing. My Bold.
Note 9 – Subsequent Event
On October 01, 2021, the Board of Directors of S.A.M. Trade (Asia) Pte Limited, a Nevada corporation (“SMFX”) and 100% owned subsidiary of the Company, approved and finalized a Share Exchange Agreement (“Share Purchase Agreement”) with S.A.M. Trade (SEA) Pte Limited, through Goh Nai De (“Goh”), the controlling shareholder of SMFX. Pursuant to the Share Exchange Agreement, SMFX will own all of the issued and outstanding equity of SFXL, the Owner will be issued 90,000,000 shares of SMFX (the “Common Stock”), representing 99% of SMFX’s outstanding shares of Common Stock (the “Share Exchange”), calculated post-issuance; and SFXL will hold no common shares of SMFX, as the wholly-owned subsidiary of SMFX. The transaction will constitute a reverse merger.
Again the filing shows a different corp that was just created recently that is being purchased. It isn't the brokerage.
The below is the brokerage info:
https://svgfsa.com/company-name-search/
Name RegistrationNo Status BusinessType Agent
SamtradeFX Ltd. 25290 Active BC-Business Company EURO-CARIBBEAN TRUSTEES LTD
States that Sam Trade Sea is a brokerage, why is it not the brokerage?
Yet we still own a sub that we have no idea what it is. It’s not the brokerage. Again, that’s a different Corp.
here
I saw that. Yet we still own a sub that we have no idea what it is. It’s not the brokerage. Again, that’s a different Corp.
Note 9 says Reverse Merger completed October 1st! See note 9 at the very bottom of the October 15th filings!
His interest in Crypto. Only useful in a crowded field if he solves the problems current markets have. Ethereum cost to much and those markets don't do shit to promote real artist. They are just a club for founding members. Opensea has a "new" search filter yet new members listings never show up, just the same crap from the big founders. They are starting to look like a Ponzi scheme.
Some other sites have started using tezos to solve cost issues, I would like to see Sam move in that direction.(assuming he is doing anything)
https://opensea.io/ShenHong
That would be interesting.
But what leads you to that suggestion? Pure speculation?
Going to be a NFT exchange....
...maybe...
20k loss for the Q and still listed as a shell.
We picked up another shell from Sam for 90 million shares of our company and we have no idea what it does or what the revenue is, if any? The shell merged is not the brokerage as that is a different Corp.
Low float low volume…
‘Volume today: 5’
People concerned with this really should do some DD and educate themselves on the purpose of holding companies and why they exist.
Shouldn't the quarterly report be out by October 15th?
Sure!
It's just an idea for now. We'll see.
But I would be very surprised if the only purpose of starting a public company in the US capital markets is to just hold patents without any revenue stream, particularly if the owner(s) come from the trading world. It would be a dead stock, with no volume. That's not the smartest (or typical) way to make money in capital markets. Hopefully they will soon let us know their intent but it may take a while.
That makes sense, thanks.
As of 10/8
SMFX SECURITY DETAILS
Share Structure
Market Cap Market Cap
1,069,903
10/08/2021
Authorized Shares
1,100,000,000
10/08/2021
Outstanding Shares
922,330
10/08/2021
Restricted
44,068
10/08/2021
Unrestricted
878,262
10/08/2021
Held at DTC
766,227
10/08/2021
Float
Not Available
Thanks. We'll see, fingers crossed!
Smart. First post that points a way to revenues.
May not happen that way, but at least you propose some plausible pathways to revenue for SMFX.
One possibility that I see is that in his global expansion Sam plans to have local partners, which is a very common model to expand faster. In that case, it would be a smart move to have a company that holds the patents and licenses them to the local chapters at a fee per transaction or royalties, or some other fee model.
Holding companies don't need revenue to have value, they need assets. Preferably tangible ones but not necessarily. Especially these days with NFT art being a "thing". https://opensea.io/ShenHong
I don't understand why Sam would want a publically traded company simply to hold the patents.
And both have a business model that generates revenue. The question remains: How is SMFX going to generate revenue?
No comment. Have a nice weekend.
Stop over thinking it… Sam has this ticker all over his website…
I have no doubt that Samtrade the brokerage generates both revenues and profits.
My question is whether or not any of those revenues/profits will flow to SMFX. As I understand it, SMFX is a separate entity from Samtrade brokerage. It was set up by Sam strictly as some type of legal shield for his intellectual property.
Samtrade is not really an operating company in the usual sense of that word. Sam clearly states that SMFX is a holding company. He further states the following: As we expand globally, it (presumably meaning SMFX) will serve as a fundamental hub for the integration and management over intellectual property assets pertaining to the FX brokerage.
Does that sound like a typical operating company that produces and sells some kind of product? Not to me it doesn't. Perhaps Sam has ideas regarding some new methodologies or new products that can be interfaced with his brokerage?
This is all speculation on my part and I know very little about the foreign exchange business or any of the other financial products that Samtrade Brokerage deals with. But as an investor in SMFX, I am willing to give Sam some time to put things in place as he wishes. My only hope is that at some point Sam will reveal to his shareholders what his plans are specifically for SMFX.
All I can do for now is sit and wait for a couple of quarters to see how things develop. Sam controls 99% of SMFX outstanding shares, so he calls the shots. The rest of us shareholders are just along for the ride, either good or bad.
That's about all I've got to say on this subject, at least for now.
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