Sequiam Biometrics (fka SQUM)

[purrfectcalm06]

Hi,

Where can I go to find out more information on these lawsuits? They have to be public record somewhere.

Thanks

[hitechwatcher]

Lawsuits are what stopped BIL and Crestsewer dead in the water and could only give the moron Basile at BMRX $250,000 at 12%....LMAO Apparently Sequiam executives re-opened their suite because BIL defaulted on agreement reached in bankruptcy court. Also Black and Decker suing them for interfering with their business, don't exact claim B&D are pushing but probably fraud and collusion with BMRX whose main client is competitor of B&D.

[purrfectcalm06]

Hi,

Have you heard anything more about the lawsuit? Looks like you are the only one who seems to have any kind of information. SQUME= SQUM PK.

[Griper]

Sequiam BioBox $167.95 on Sharper Image website!!! As one who unfortunately knows the clowns (N&M)at the train wreck FKA Sequiam, I must say that it warms my heart to have followed the recent news... however, I truly feel for the shareholders who were taken for a ride. Isn't it hysterical that Sharper Image is still selling Sequiam product??? I found it through a link on Sequiam's website! Who is paying the bill for hosting? Does anyone know what is happening to the furniture? I'd love to pick up some very expensive office furniture at auction!

[purrfectcalm06]

Glad to hear it, good to enjoy the fruits of your labor. If the lawsuit is successful I might be able to buy some fuel for my Prius. Be sure to keep us posted

[hitechwatcher]

Great weekend, weather was perfect and no meetings, just got back last nite. Good thing I could short enough of BMRX to pay for $4.26 per gallon fuel.
Lawsuit info may come out this week, same time I expect the 8K showing shareholders massive dilution of over 200% for the financing.

[purrfectcalm06]

How was the weekend on the yacht? Today is Monday, any news on the class action suit or the shareholders suit?

[StockNemesis]

Forget it simple question can't answer. Really just about every penny stock you can short because most of them fail...

[hitechwatcher]

Linden Asset Management. Another toxic financing pig you can follow and short any stock they give funding to. Look at BMRX straight downhill since they took money from Linden and now this is fact......

8K to be issued showing millions of new shares double what current O/S is......TIMBERRRRRRRR.

Made just under 100K shorting BMRX this week and doubt I will have to buy back till it hits under a dime in next 30 days.

Just set up Google alerts and follow these pigs doing financing, short the stock and make easy money.

These guys can always find somebody stupid like Nick and Basile to take their money and wipe out shareholders.

[StockNemesis]

So you can't say what major brokerage it is?

[knowlesmsncom]

Wow what a team.....

Jake Smith of Intel, Bob Aoki of Microsoft, Chris Barrow of HyperQuality, Inc, Robert Allen of Frost and Sullivan.

Jake Smith said, "Biometrics is a fast growing and fascinating technology that has the potential to transform the way humanity lives, works and plays in a global economy. Sequiam, Nick VandenBrekel and his dedicated staff around the world have developed a platform to deliver low-cost high-volume biometric products for the world economy. There is no easy way to achieve this goal quickly but innovation will be at the heart of the company's growth. I look forward to the opportunity to contribute my experience, deliver shareholder value and learn from Sequiam's innovators."

Bob Aoki said: "Sequiam has truly recognized and is aggressively adapting to evolving markets. By demonstrating the courage to change, Sequiam is looking to take a leadership role in the industry and implement its vision; taking consumers into a new future. They are truly defining a new market, with an affordable, intuitive and no-nonsense approach to identity management and authentication that will enable life experiences, both personal and business, to become more convenient."

Chris Barrow said, "With their exclusive ability to deliver low-cost, high-volume biometric products, Sequiam is uniquely positioned to change the way the world interacts with an endless number of consumer devices. They have the opportunity to lead the global marketplace for consumer lifestyle biometrics and I am looking forward to helping to furtherformulate and execute the sales and marketing strategies that will help Sequiam secure that leadership position."

Rob Allen said: "For the past several years I have been enthralled by Sequiam's vision of using identity management tools to evolve consumer products and services in ways that are cost-effective, convenient and intuitive. I am excited that Sequiam has turned the corner from being R&D focused to sales focused and I truly believe that the company will define new markets for the use of identity management and authentication technologies over the coming years."


THERE NEXT BIG GIG

http://www.monster.com/

[analystslie]

Hitech:

I couldn't agree with you more concerning Crestview Capital. Who is Linden you make reference?

Crestview Capital stated they would be lead investor to fund BMRX for $10M to $15M while they couldn't fund Sequiam on the remaining $5M which they were obligated while they accepted issuance of entire warrant package.

Crestview Capital is scum with a C in my opinion. The recent rise in BMRX will be shortlived in my opinion.

What a mess after Sequiam's supposedly best quarter in history.

Jake Smith of Intel, Bob Aoki of Microsoft, Chris Barrow of HWP/Compag, Robert Allen of Frost and Sullivan join the company in November and within less than 2 months Sequiam is in default and all the common stockholders are wiped out shortly thereafter.

It will be interesting to see how this plays out.

[hitechwatcher]

I have been with major brokerage house since 1997 since I have huge cash balance they let me short these pigs. Just follow the news, I make my living following pig like Crestsewer and Linden. FREE MONEY

[StockNemesis]

A I don't like CrestView either how they screwed Sequiam. I do agree with you that they have no money thats why they bailed on them. They owe money out themselves. People how bought BMRX in my opinion should get out now. As far shorting I hope you do very well. Scottrade won't let short a penny stocks which broker do you use?
StockNemesis

[hitechwatcher]

SITTING IN A FEDERAL COURTHOUSE IS NOT INSIDE INFORMATION.
From: Protouch...

Well, it seems that he has admitted on the other board that he was an insider as he claims that he was there. If that is the case, and he is trading on insider information, he can get into big trouble. Also, if he divulges information he received while he was an insider that is not public knowledge, again, it can cause him big trouble. Seemed like an astout enough of a guy with some kind of a research background. Just seems bitter about the whole situation.

SQUM court case was open to the public. Anyone there as I was knows two thing. Crestsewer has no money and there were no assets left for BIL to transfer to the mental midgets like Basile at BMRX.

All the good stuff went out back door in side deals, which is enabled us shorting BMRX this week.

[hitechwatcher]

BINGO.... You are correct. Same way I pocketed 100K+ this week shorting Crestsewer new pig. I probably can buy back everything shorted this week from ignorant buyers at less than $.10.

Boat is loaded with free fuel courtesy of BMRX and Bahamas will be great next 5 days. Thanks pumpers.LMAO

[gabeh]

How do they make a fortune? Selling stock short?

No other way.

[hitechwatcher]

NOT Very Smart.

"No matter how you look at a short position right now if you didn't start redeeming those for actual shares you are now considered the "APRIL FOOL"."

Anyone shorting BMRX at $.40 can buy back at a dime in less than 30 days or giving Crestsewer track record just like SQUM I can buy at $.001 and wait for somebody to take over the shell. I am very happy to be shorting BMRX at these levels before REAL INVESTORS figure out the dilution coming.

Only ones making money are shorting at these levels

[hitechwatcher]

BIL and Crestsewer, one in the same. They troll till they find executives with low IQ like Nick at SQUM and Mark at BMRX give them toxic financing, make a fortune and move one to the next patsy who SWALLOWS...their BS.

[gabeh]

And how does that benefit Crestview?

[hitechwatcher]

Big party of one on BMRX board. Not smart enough to know Crestsewer is about to do same the to BMRX they did to SQUM.
Massive dilution for death spiral financing.

[knowlesmsncom]

If you build it they will come...........

NOTHING MORE THAN A FIELD OF DREAMS!

and a cesspool of debt........

All JMHO\FWIW

[hitechwatcher]

Quite simply....I was there.
Transition is far from smooth, most talented employees have left and contracts are toast.
So power play by Crestsewer got nothing, but I should thank them it made me a bundle. LMAO

[purrfectcalm06]

Calm down and let this thing work its way out, for somebody who has made so much money there is a great deal of venom in these posts. Crestview to my understanding owns alot of shares maybe even the majority since they have Nick's plus others.

As far as what occurred if Crestview didn't know how would I have a clue. Despite what you say I believe this thing is winding to a close. Shareholders seldom win in the best of situations and this one is definitely far from good. The so called accumulation on squme is about $200 per day. I've learned enough now to know all kind of resurrectionist show up to the funerals for these penny stocks.

[StockNemesis]

Were did you get that info from hitechwatcher?
StockNemesis

[hitechwatcher]

Unfortunately, like most you do not realize what has occurred.
There was 18 hours days planning this so called "surrender" to BIL without the #%$##%idiots Nick and Mark, that basically stripped all the assets out of SQUM.

BMRX is now trying to figure out what the #*#**# they are getting for diluting the stock 500% for this....takeover...LOL

No customers left who will deal with crooks like Crestview and BIL....or soon to pop up RON LACHY>>>>Lachman.

So this shell after class action suits...which cowards like Crestview will run from....will be turned over to shareholders.....Boooyah

[jack of stocks]

Hightech: I could not agree with you more. It really is sad this turned out to be in the end. Crestview and BMRX should be taken down as well for collusion.

No one deserves to make any money in this scam if it was a scam. BDK, MSFT, INTC execs all involved. Their names are all involved as well as Fujitsu. Someone should have stepped up to the plate and stopped this nonsense before it went this far.

[purrfectcalm06]

Loanstew, jack of stocks, this will be my last post. This thing is about done. I am making a public plea that the moderators update the ibox and include the recent press releases and filings. No matter what you think these things are basic facts. The so-called bankruptcy strategy failed. SQUM is no more. I will give the benefit of the doubt that those who promoted squm believed in the company. You are not responsible for people's investment decisions but you are responsible for the I-box so at least update it for some semblance of an accurate historic record of this experience.

[hitechwatcher]

As far as the stock goes the only stock Crestview was able to seize that had been posted as collateral is the stock of the former idiot CEO Nick and the incompetent CFO Mark.

I bought all my stock at .001 by sitting on the bid when others were dumping because there will be something new put into this shell. Question left to be decided by the Court is who the owner of the shell will be. Right now shareholders still own it, not BIL, BMRX or Crestview.

Crestview didn't really get any assets as the main value was Fujitsu and Black & Decker which won't deal with them and the manufacturing operation which they were not awarded because Sequiam did not own it. There were zero patents to seize so now new companies can immediately take over the product sales to Fujitsu and Black and Decker and it will not be BMRX.

[purrfectcalm06]

Some of your information is confusing. According to the filing by Crestview they have been given all assests, patents, stock, and etc. Here is Edgar filing. I feel like you have been badly injured in this situation and for that I am sorry. I also lost a fair amount of money and perhaps you lost more than just money in any case you have given out the information you feel somehow obligated to post. Now it is time to let this thing do what it is going to do. I really hope things work out for you.

Form 8-K for SEQUIAM CORP


--------------------------------------------------------------------------------

22-Apr-2008

Bankruptcy or Receivership, Financial Statements and Exhibits



Item 1.03. Bankruptcy or Receivership
On March 15, 2008, Sequiam Corporation and its wholly owned subsidiary Sequiam Biometrics, Inc. (the "Company") filed a voluntary petition for relief under chapter 11 of title 11 of the United States Code (the "Bankruptcy Code") in the United States Bankruptcy Court for the Middle District of Florida (the "Court") (Case Numbers 6:08-bk-01984-ABB and 6:08-bk-01985-ABB).

On April 17, 2008, the Court entered an order granting relief from the automatic stay to the Company's secured lender, Biometric Investors, LLC. ("BIL"). The order further allows BIL to exercise all available in rem possession against its collateral and foreclosure against all stock pledged and all Trademarks and Patents owned by the Company.

After BIL has taken possession of all of the Company's assets, it will cease to operate its business as a "debtor-in-possession" and liquidate under the jurisdiction of the Court and in accordance with the applicable provisions of the Bankruptcy Code and the orders of the Court.

Copies of Court Orders are attached hereto as Exhibit 10.1 and 10.2 and are incorporated herein by reference.





Item 9.01 Financial Statements and Exhibits.
(a) Financial Statements of Businesses Acquired.

Not Applicable

(b) Pro Forma Financial Information.

Not Applicable

(c) Shell Company Transactions.

Not Applicable

(d) Exhibits.


Number Description

10.1 Order Granting Motion for Relief from Automatic Stay of Biometric
Investors, LLC Case No. 6:08bk01984-ABB


10.2 Order Granting Motion for Relief from Automatic Stay of Biometric
Investors, LLC Case No. 6:08bk01985-ABB

[hitechwatcher]

The court has not ruled on the civil suit by shareholders against BIL and Crestview as the hearing has not yet been set. If you are referring to the bankruptcy case that stay was granted until the Bankruptcy Judge comes back from vacation. BMRX does not own the public shell of Sequiam that is why no symbol change.

No assets to transfer anyway there is no inventory at Sequiam and the biggest contracts with Fujitsu and Black and Decker are toast.

Black and Decker and Fujitsu will soon get the products from another company and it won't be BMRX.

[purrfectcalm06]

Thanks for the response. I am a shareholder of record and have received nothing about such an action so of course I was interested. Time will tell. GLTY

[knowlesmsncom]

When do you think the.......

electric company will pull the utility meter at 300 Sunport Lane?

[knowlesmsncom]

When does the stock symbol......

Change from E to Q?

[knowlesmsncom]

Righto........

"my source was firsthand and told in confidence"

Hopefully your source wasn't from Sequiam or any representative at least not one that was responsible for all those forward looking projections!

All JMHO\FWIW

PS - You might read the last PR.....apparently it looks like the court ruled against Sequiam........

"We were notified last week by Biometric Investors, LLC that it has secured an order from the bankruptcy court to take immediate possession of Sequiam's assets."

http://biz.yahoo.com/prnews/080422/nytu036.html?.v=101

[hitechwatcher]

I will only respond to tell you that my source was firsthand and told in confidence. I know of all least one huge suit filed and potential class action may be filed by Monday. Some are actually accumulating shares at the bid on Sequiam knowing full well something else is going into this shell. Most likely after the Court rules against BIL and Crestview or perhaps before because with Crestview's bad record before the SEC I doubt the would want to face a class action shareholders suit in court.

[purrfectcalm06]

I know you are on the board. Why are you ignoring my questions about this HUGE shareholder lawsuit?

[knowlesmsncom]

purrfectcalm06.....

I doubt you will see any. SEQUIAM WAS HIGH RISK venture and as there history shows they gobbled up other companies assets. Now they got gobbled and left the remaining debt for bag holders of record.

My congrats go out to the dream team for a job well done....bonuses for everyone!!!!!!

This book is closed.....end of story! Except who ends up getting all those huge royalty payments from B&D,Oops???????????????

JMHO\FWIW

PS - Was I right or was I just spot on target.............

[purrfectcalm06]

Please once again I ask you to post the information on the stockholder's suits.

[StockNemesis]

Were did you get that info from hitechwatcher?
StockNemesis

[Bull Trader]

Sequiam's assets acquired by bioMETRX

Pursuant to a bankruptcy court order, BioMETRX Inc. has taken possession of Sequiam Corp.'s assets and started the initial integration of the assets and personnel of the company.

The move by the Jericho, N.Y.-based company, done through a previously announced agreement with Orlando-based Sequiam's chief investor, Biometric Investors LLC, comes on the heels of last month's declaration of bankruptcy by Sequiam.

Biometric Investors has also provided $250,000 to bioMETRX as part of the asset acquisition and financing agreement between the companies.

Sequiam (OTCBB: SQUME) was known for its consumer biometric products, particularly its fingerprint biometric door lock that is currently being marketed by Kwikset.
http://orlando.bizjournals.com/orlando/stories/2008/04/21/daily12.html?ana=yfcpc

[purrfectcalm06]

My mistake. Crestview is the owner of the shell.

[purrfectcalm06]

How did you find out about this suit? Where do I get information? I am sure crestviews intentions are not honorable towards bmrx, I just hope the shareholders don't lose everything.

[hitechwatcher]

Huge Shareholder suits being filed against BIL and Crestview. Highly unlikely that BMRX will get the shell in light of illegal activities that are still before the courts. BMRX shareholders about to get huge surprise of massive dilution occurring from millions of shares to be given to Sequiam employees to stay, tens of millions for the financing. Sound familiar????

Crestview and BIL just going to use Mark Basile as the new nieve whipping boy and destroy his stock just like Nick let them do to Sequiam.

Sad thing is Basile not smart enough to seeing it coming. Predict BMRX will be below $.10 in less than 30 days.

[purrfectcalm06]

I can't stand the suspense. What is instore for us shareholders of record? That is besides useless paper, since it looks like bmrx is taking possession of all assests including the shell.

[joev2]

Yep, looks like dinner is served.....

bioMETRX, Inc. Initiates Integration of Personnel and Assets of Sequiam Corp.
Tuesday April 22, 8:00 am ET
Biometric Investors, LLC funds Company Initial $250,000 under March agreement

JERICHO, N.Y., April 22 /PRNewswire-FirstCall/ -- bioMETRX Inc., (OTC Bulletin Board: BMRX - News), a leading developer and supplier of consumer-based finger-activated products, today announced that it has commenced the initial integration of the assets and former personnel of Sequiam Corporation (OTC Bulletin Board: SQUME - News) through a previously announced agreement with Biometric Investors, LLC.

"We were notified last week by Biometric Investors, LLC that it has secured an order from the bankruptcy court to take immediate possession of Sequiam's assets. We have implemented a plan to incorporate many former Sequiam employees into our core business, and to take immediate possession of the equipment, inventory and technology base. We expect a smooth transition of those assets into bioMETRX over the next few weeks", stated Mark Basile, Chief Executive Officer at bioMETRX, Inc.

In addition, Biometric Investors, LLC has funded $250,000 to bioMETRX as part of the asset acquisition and financing agreement between the companies. The total financing, once completed, will significantly increase the Company's ability to expand its proprietary smartTOUCH(TM) and smartFIT technology across many vertical markets and continue to establish itself as the most dominant global leader in the development of low cost, low power OEM biometric integration products...


http://biz.yahoo.com/prnews/080422/nytu036.html?.v=101

[hostastock]

this pig of a stock is cooked..

[BROADWAY10]

Is there any hope left for this bewildered company!!

[BROADWAY10]

WOW, what happened here !!!!!!!

[knowlesmsncom]

IBox doesn't have anything........

in regard to the BANKRUPTCY!!!!!!!! Isn't it important to display the current status of the company?

http://investorshub.advfn.com/boards/post_new.asp?board_id=7146

Sequiam Corp. files for Chapter 11

Biometric device manufacturer Sequiam Corp. has announced it filed for voluntary Chapter 11 bankruptcy reorganization March 15 in the U.S. Bankruptcy Court for the Middle District of Florida.

The Orlando-based company (OTCBB: SQUM) intends to continue to conduct business as usual while it devotes its efforts to resolving operational and liquidity issues and develop a reorganization plan.

It its filing, the company said it has accumulated $30 million in debt developing its technologies over the past six years, even though it projects $6.5 million in revenue in 2008. It also said that part of the reason it filed for Chapter 11 is that an investor failed to honor a March 2007 agreement that would have advanced the company $800,000.

Sequiam's stock price has dwindled to less than 2 cents per share in recent months, even though it has a high-profile licensing agreement with Black & Decker's Kwikset division for biometric door locks. It's founder and chief executive officer, Nick VandenBrekel, recently resigned for personal reasons.

Sequiam has sales offices, manufacturing facilities and development centers in North America, Taiwan, China and South Africa.