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I'm sorry about the multiple responses. Haven't been on IHub in years and forgot it would take a while to submit but then could go through multiple times shortly thereafter by continuing to click submit.
Hi Enterprising Investor,
Do you know what was said during the status update?
Aren't all of the key cases settled now? Why not wind this thing up and make liquidating distribution(s)?
Thank you very much for your continued efforts to keep noteholders updated on the status of the court proceedings!!
Help please...can anyone please provide one or two tickers of companies that already own (not letters of intent to acquire) medical marijuana dispensaries here in the U.S.? TIA!
Help please...can anyone please provide one or two tickers of companies that already own (not letters of intent to acquire) medical marijuana dispensaries here in the U.S.? TIA!
Help please...can anyone please provide one or two tickers of companies that already own (not letters of intent to acquire) medical marijuana dispensaries here in the U.S.? TIA!
2 aliases created on the same day that only posted on Santeon's message board = most likely a disgruntled ex-employee of Santeon. Perhaps one that is now suing Santeon?
Where are you getting $8.80 from? It has only traded there once in the last three years.
Does anyone know approximately what the hedge funds paid for their bonds that they swapped for equity? Just trying to figure out what their cost basis might be in the stock.
$1.23 to $.26 (lowest legitimate trade price) to $1.50 today all in less than 3 months...
When did i say I was shorting this every day? Show where I posted that or quit making up lies!
"the stock has gone up +1000% from where you 1st claimed on this board you started shorting at!"
You are dead wrong. Where are you getting 1000% - do you even know how to calculate % move??
and why would I have been forced to cover already??
The SEC is starting to suspend these shady pot businesses. This thing has to be on their radars given:
1)The huge stock price appreciation
2)The background of the recent purchaser of the shell
3)The forward split
4)Cancelation of shares and simultaneous issuance of shares
This stock still may not get suspended, and even if it does get suspended, it may take quite a while before that happens. But if it does get suspended, I sure hope I'm still short at the point!
Do you have any facts up to back up the claim they are entering the pot/pot related business?
How many hundreds of millions of shares would be outstanding if they went into that business because right now this is just a Medical spa/shell - they would have to issue a bunch of shares to buy a pot business or pay a bunch of shares to raise capital to create one.
First off, I want to congratulate any of the longs here who made a killing. Secondly, I want to say I think this morning is the highest this stock will ever see and now we're going to see it under $2.50 by the end of next week. The quicker and higher they go, the faster and lower they tend to drop. If you're a long and you've taken profits, congratulations. I think you're going to look back at this time as the only opportunity to sell at anywhere near these levels. If you're long and letting your profits ride, ya better take your profits before someone else does!
this will end up way under $1 just watch...
May regret it, but I took profits on my 7.73 short and covered at 6.75. Just FYI...
This is the company's website:
http://myskinmed.com/
Does that look like the website of a company that should be valued at $186 million dollars???
SHARES OUTSTANDING:46,025,104 AFTER 4:1 SPLIT
http://yahoo.brand.edgar-online.com/displayfilinginfo.aspx?FilingID=9819292-898-9870&type=sect&TabIndex=2&companyid=782355&ppu=%252fdefault.aspx%253fcik%253d1436161
11,506,276 shares outstanding before split X 4 = 46,025,104 shares outstanding
Do people buying this now realize that there are now 46 million+ shares outstanding??
"The additional shares issued as a result of the stock split will be distributed on or about March 21, 2014 to stockholders of record on March 19, 2014."
clearly you must not be able to read very well because I didn't say you were long, I said "IF YOU WENT LONG"...
It looks like the reputation of the controlling shareholder (Paul Enright - google him) precedes himself...
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=27359186
it was a lot scarier to be short on this when cann was at $64 and this hit $9...I think the momentum has went onto the lower share price MJ stocks for now...
If this had 2.35M shares outstanding like Yahoo Finance said, this would be a fantastic investment for a pot-related business. But the reality is that it has 8M+ shares outstanding and could have more than 150 million shares hitting the market at any time!
"The Company has the following potential common stock equivalents at September 30,2012 and 2013: The series A Convertible preferred stock is convertible into common shares at 100 to I, reflecting a total potential conversion of 146,733,00 if fully exercised and converted. The convertible note is convertible into common shares at various rates of conversion. As of September 30, 2013 the convertible notes (and accumulated interest) could be convertible into 6,909,509."
Shares outstanding = 11.506 million X $14/share = $161 Million market cap for a shell/medical spa business
Why would anyone buy this for $14/share when someone just bought 10 million shares for $75,000? That is $.0075 per share!!
I DARE anyone here to admit they are buying this thing here at these levels...
Disclosure: I just shorted this today.
The EBN business was less than 15% of the company's revnues so that isn't enough reason to stop filing. SANT's spending with regards to expenses of being a publicly traded company have made no sense to me. They spent hundreds of thousands of dollars (between legal, audit and man hours) to get this back to a fully reporting company, then paid FTI consulting for a "strategic communications program" which was a complete failure, then they hire KCSA, which was again a complete failure, and then after all of that, when the company is sitting on its highest cash balance ever, they decide to stop filing with the SEC.
You'll never be able to get rid of Ash unless you buy the company because:
1)he is the founder
2)he is the CEO
3)he is the chairman of the board
4)he hand picked the board
I agree with you 100% that he is just in it for the salary. If he truly believed in the company, he would have bought more equity in SANT rather than pick it apart for its assets for his personal benefit. But unless you are willing to spend ~$100K to launch a proxy fight to remove him, he isn't leaving. It's a damned shame because the core consulting business is a solid company.
It isn't that they need to find a reason to become fully reporting again - it is clear that management DOESN'T want to be fully reporting. They chose to stop filing - it was an option available to them, not a requirement. There are 300+ shareholders of Santeon, it's just that most little guys' shares are held in brokerage name, thus there aren't 300 shareholders of record.
If I were a potential client of Santeon, I would probably look at the stock price and market cap and give serious pause before I did business with them and hopefully management is well aware of this. How many clients want to do business with a $.50/share stock with a $600K market cap?
I don't think Santeon is going to be a publicly traded company at $.50 in a year. I think it either goes to zero (which I don't think really will happen),it gets bought out, or they take it private. However, they need to fairly compensate us shareholders if they do decide to take it private. As they stated on 02/04/2013, the CEO said the stock price was undervalued then. On 2/1/2013, the stock closed at $1.25 and on 2/4/2013, the stock closed at $1.50. So any price level the stock gets taken private at must be at a premium to that given that Santeon has claimed in earnings releases since then that the company is more financially sound, growing, etc. etc.
PRESS RELEASE
Feb. 4, 2013, 2:30 p.m. EST
Santeon Announces Share Repurchase Program
RESTON, Va., Feb. 4, 2013 /PRNewswire via COMTEX/ -- Santeon Group Inc. SANT -1.18% today announced that its Board of Directors (the "Board") has authorized a program to repurchase up to five hundred thousand dollars ($500,000.00) of common stock in the open market over the next twelve (12) months. Under the program authorized by the Board, Santeon may repurchase shares of common stock in the open market or through privately negotiated transactions over the next twelve months and as permitted under Securities Exchange Act of 1934 Rule 10b-18. A condition of the Board's authorization is that all purchases be made using internally generated funds.
Dr. Ashraf Rofail, Chairman and Chief Executive Officer of Santeon Group Inc., commented on the Board authorization, "I am very pleased the Board has taken this strategic step and authorized the share repurchase program. Given the underlying strength of Santeon's business, our recent customer wins and positive financial trends, we believe our current stock price is undervalued. Therefore, the share repurchase program is in the best interests of our stockholders."
The extent to which Santeon repurchases its shares and the timing of such repurchases will depend upon market conditions and other corporate considerations, as determined by Santeon's management team.
About Santeon Group Inc.Santeon Group Inc. is a technology company headquartered in Northern Virginia with offices in Reston, VA, Tampa, FL, Cairo, Egypt and Pune, India. Santeon offers products and services in Agile training and transformation, healthcare and media. Santeon's goal is to serve emerging markets by providing technically superior products and solutions while reducing the cost of ownership and deployment of these solutions through a strong channel partner and distribution model. For more information please visit our web site at http://www.santeon.com .
Safe Harbor Statement:The preceding press release may include statements that include, among others, forward-looking statements about our beliefs, plans, objectives, goals, expectations, estimates and intentions that are subject to significant risks and uncertainties and are subject to change based on various factors, many of which are beyond our control. The words "may", "could", "should", "would", "believe", "anticipate", "estimate", "expect", "intend", "plan", "target", "goal" and similar expressions are intended to identify forward-looking statements. All forward-looking statements, by their nature, are subject to risks and uncertainties. Our actual future results may differ materially from those set forth in the forward-looking statements. Our ability to achieve our financial objectives or improve the company's stock price could be adversely affected by many factors, including, without limitation, the following factors: The strength of the United States economy, changes in the securities markets legislative or regulatory changes, the loss of key personnel, technological changes, changes in customer habits, our ability to manage these and other risks, and our ability to deliver products and services on time. However, other factors besides those listed above could adversely affect our results, and you should not consider any such list of factors to be a complete set of all potential risks or uncertainties. These forward-looking statements are not guarantees of future performance, but reflect the present expectations of future events by our management and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Any forward-looking statements made by us speak only as of the date they are made. For additional information about Santeon's business and financial results, refer to Santeon's Annual Report on Form 10-K that may be found at sec.gov or onhttp://santeon.com/Sec_Filings.html . Santeon undertakes no obligation to update any forward-looking statements that may be made from time to time by the company, except as may be required by applicable law, whether as a result of new information, future events or otherwise.
Investor Relations contact:Mark GuirgisSanteon Group, Inc.703-970-9200, ext. 112markguirgis@santeon.com
SOURCE Santeon Group Inc.
http://rt.prnewswire.com/rt.gif?NewsItemId=PH53848&Transmission_Id=201302041430PR_NEWS_USPR_____PH53848&DateId=20130204
Copyright (C) 2013 PR Newswire. All rights reserved
Who is the "they" that shorted against the preferred and common?
The short interest on 12/31/2013 was exactly ZERO shares sold short. There is no short squeeze coming because no one is short!
Also, any value of the shell just went up in flames when they filed the form 15. A pink sheet shell is worth about as much as a couple of rolls of toilet paper.
However, Santeon is far more than a shell. It is a legitimate solid small business with 80+ employees, doing over $5M a year in revenues and a pretty solid balance sheet; they will have over $500K in cash as of 12/31/2013. The problem is, Ash Rofail has run this thing into the ground by paying himself $250-350K a year in salary+bonuses. And, ex-employees of the company that either were fired or quit the company now own far more stock than the current management and employees own. The board of directors is chaired by the guy sucking all the blood out of the company, his mentor, and a guy who works for a company Santeon retained at one time to do IR services for us.
It is hard to imagine but Ash's total compensation was $309,807 in 2012: that is over 30% of the current market capitalization! The CFO's total compensation in 2012 was over 20% of the current market capitalization and the COO's total compensation in 2012 was 14% of the current market capitalization. Talk about destruction of shareholder wealth!!
Ash doesn't give a damn about shareholders or what they think. He made that clear when he bought eBN. I know for a fact that he watches this board like a hawk but he doesn't have the balls to post on here anymore.
Our only hope is Mark Guirgis and Jason Frankl keep him honest and grow the company until it is bought out by someone who knows how to run a company. I do think they respect the value of fiduciary duty and Jason Frankl has more reputational risk than anyone else involved, IMO.
So let me get this straight...the company spends a year and a half getting into compliance with SEC reporting requirements, and then less than a year and a half after that, it decides it isn't worth it? After spending (between fees and lost man hours on the filings) hundreds of thousands of dollars, then using two different firms for "strategic investor relations" (and paying the latest one $10,000 a month to do so!), going on road shows and putting on horrible earnings calls, it's now time to go back to the pink sheets?
Complete and utter incompetence!
Santeon Group Inc. to Cease Making Periodic SEC Filings
PR Newswire Santeon Group Inc.
RESTON, Va., Jan. 10, 2014 /PRNewswire/ -- Santeon Group Inc. (OTCBB: SANT, "Santeon" or the "Company") announced today its decision to file Form 15 with the Securities and Exchange Commission (the "SEC") and cease making periodic SEC filings. The Company is eligible to deregister its stock because it has fewer than 300 shareholders of record. The Company filed Form 15 with the SEC to voluntarily suspend its reporting obligations under the Securities Exchange Act of 1934, as amended (the "Exchange Act") on January 10, 2014. As a result of the filing of Form 15, the Company's obligation to file certain reports and forms with the SEC, including Forms 10-K, 10-Q and 8-K, will be suspended immediately. Contemporaneously with the filing of Form 15, the Company will file a post-effective amendment to withdraw its S-8 Registration Statement filed in April 2013.
Santeon's decision to exercise its right to cease making public filings was made by the Company's Board of Directors after careful consideration of the costs and benefits of making voluntary SEC filings. The Company's Board concluded that the Company's small market capitalization, low trading volume, direct and indirect costs associated with preparing the Company's periodic reports with the SEC and the accounting, audit, legal and other costs associated with being a public company outweigh the benefits of continuing to file these reports. It is the Company's intention to invest the savings achieved by ceasing to make SEC filings back into growing the business of the Company.
The Company intends to continue to have its financial statements audited annually by an independent accounting firm and to communicate with its shareholders through its website and periodic press releases.
About Santeon Group Inc.
Santeon Group Inc. is a technology company headquartered in Northern Virginia with offices in Reston, Va., Tampa, Fla., Cairo, Egypt and Pune, India. Santeon offers products and services to optimize federal and commercial enterprise performance. Santeon's goal is to serve emerging markets by providing technically superior products and solutions while reducing the cost of ownership and deployment of these solutions through a strong channel partner and distribution model. For more information please visit our web site at http://www.santeon.com.
Investor Relations Contact
Jeffrey Goldberger / Rob Fink
KCSA Strategic Communications
212.896.1249 / 212.896.1206
jgoldberger@kcsa.com / rfink@kcsa.com
Mark and Ash would both say the price will take care of itself. Which would be true if they were executing operationally, but they aren't. They can't produce a profit from operations even though they've grown revenues by 39.5% for the first 9 months of 2013 vs 2012!
G&A up 58% can't be explained by adding just 2 business development people. Based on the slowing revenue growth trajectory and increased operating losses over the past 6-12 months, it looks to me like SANT is hiring people left and right betting on an increased demand for their products and services, not hiring because ofan increased demand for their products and services.
These guys are running this company acting like it's doing $10M a year in revenue when, based on this year's revenue and earnings numbers, it is quite clear that it is a ~$5M/year revenue company.
Why is there such a need to show growth? What's better: a company doing $4M a year in revenues with $400K a year in profits, or a company doing $6M a year in revenues with zero profits? The stock market says the former is. Just compare the current stock price now vs. where we were at a year ago when the company was showing strong profits. And last year we didn't even have the "benefit" of this "strategic" IR firm yet the stock is way down!!
Hi GQart. Yes, we sure were fed a lot of hype on eBN weren't we? Remember all of the conference calls talking about how "sticky" eBN was for customers, that the revenues created were like an annuity, that the margins on the revenues received were 90%+? It would be bad enough to see this asset be sold to an independent third party but to see our CEO decide to use his own money to purchase it is throwing salt in the woulds. Why didn't he use any of the money he used to buy eBN to buy SANT stock instead? He could have either purchased SANT on the open market or bought shares from one of the now ex-insiders of the company like Ahmed Sidky or Jason Sunstein. It is quite obvious that he sees eBN as a better investment than SANT stock.
How are the opportunities more attractive in Agile than in eBN???
Q3 results sure don't indicate that!
"Agile training, coaching and consulting revenue increased 4% to $840,837 for the third quarter 2013, compared to $809,661 for the third quarter 2012."
"eBN revenue increased 98.4% to $213,037 for the third quarter 2013, compared to $107,356 for the third quarter 2012."
Oh and if you aren't a paying member (I'm not) if you could shoot me an email to eagle2975@aol.com that would be greatly appreciated!
no position here - but just wondering if anyone knows what the terms are for the convertible debt that is outstanding? Definitely dilution occurring here.
don't worry, stay patient and you can buy at half that price
The chart is broken. People can talk how a few minutes don't matter but the fact is, there were no bids going into the close and this thing closed down well over 50% for the day. It may have a brief pop back up, but in the next couple of weeks, all bounces can, and should, be shorted into. This month I expect it to close in the $.20s and I promise you, it will NEVER close above $1 without the aid of a reverse split. Please do mark this post!