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...just an observation... was always just there.
In my defense I've said very little for all that has or has not gone on here.
can't even find the ticker symbol on stockcharts anymore...that's real soothing to the stomach.
I figured as much
I don't think they want to run the business.
Pinks go public to raise capital... once they get their capital they dilute until there's nothing left. This is just another one of those cases until they prove otherwise. They had a golden opportunity to prove otherwise to me and they didn't - that was proof enough for me.
He took funds out of last quarters revenues to pay back loans - the shares are a bonus on top of that.
I still hold plenty of shares - but I was able to sell a large portion in the last run-up thankfully.
My attitude has changed because I think the settlement was only beneficial to JS - he took the entire gains of the settlement for himself - Those shares returned by RW belong to EVRM - meaning its shareholders - As an owner of nearly 3% of shares at one point - that sucks. Those shares should have been retired benefiting all existing shareholders - JS pocketing those shares for himself did nothing for the company and loaded himself up - like I said - I don't even know if that settlement is legal - if this was not a pink sheet company - I'm sure there would be a class action suit against it. CEO's aren't allowed to do things to benefit themselves only. But this is Pink sheets - and everyone I've put money into always ended up in lawsuits where the shareholders get conned out of their money and the officers walk out ahead of the game - so what can I say - I'm not surprised... just disappointed... they had the chance to make this a huge turn around and use that to grow a company - but instead decided to take money now - tank it - file for bankruptcy and come out ahead and forget about managing a company - early retirement haha. I don't blame them.
Not to mention they fail to run a legal business with the state of Nevada, can't file on time, or share more than one document of information on the company in over a years time.
I can't wait until my business is active... Even though I'm not active - I still have fulfilled my duties to keep my business current and legal every year - there is no excuse for not being able to when you have teams of people hired to do just that for you.
Is this company still trading??
It shouldn't be...
It's not even a registered Corporation anymore...
http://www.nvsos.gov/sosentitysearch/FeeDetails.aspx?ctok=xuNJfnwmkJuU9uNksGYH4Q%253d%253d
It was a win...
unfortunately it was won in a way that only benefited JS and not Shareholders.
Those shares we received in the settlement belong to EVRM (investors) not to JS. As far as I could tell... The court awarded EVRM the shares not JS.
I don't even know if it's legal that JS has the shares???
apparently it is - and apparently JS gets all the reward
...JS could have done much better dismissing those shares and increasing the PPS
instead he pocketed all the shares - and the PPS sunk - hope he enjoys his now worthless shares.
Seems pretty cheap to me...
How can JS pocket all the shares from this settlement? Those gains should be equally distributed throughout the company and all of its shareholders.
...American business at its finest... Investors get screwed - CEO's flourish.
At least we have enough capital to withstand next quarters losses.
Well I guess it'll be answered by Q2 fins... +5 days or whatever it is.
I take it back...
In response to the question asked: So, who are these handful of employees, who own 5%, and why didn't JS report them as required ??
Clarke and Hotek are both over 5% ownership - who knows how many shares they hold.
it does...
All of their shares. You can find Richards shares listed in quarterly's - Patricia's are less than 5% OS or 100M
The rest are good questions - but really have no bearing IMO. The big deal is they returned all their shares... which is 25%+ of the OS.
... I dunno... they wrote it pretty clear to me...
...there are answers... just read...
The settlement was a compromise in which Evermedia received a net cash award of nearly $304,000, a confession and apology from Richard Weitzel, and the return of all shares of Evermedia stock owned by Weitzel and Waldroop. In exchange, Evermedia agreed to drop the civil lawsuit against both defendants and relinquish a sum of $76,000 as well as issue mutual releases. There were two other issues related to the suit that were recently discharged, an invoice and a meeting. Moreover, there was a dispute over property related to STS operations that was resolved Monday, June 15th.
I'm sure the amount they settled on was thought out as to how much they needed where. JS certainly deserves repayment - and I'm sure they have what they need to move on as well.
Q2 should shed a lot of light on the situation.
No news???
How about the stock effectively just had a 25% share buyback!!
Investors equity just jumped 50% because of it... Once quarterly's come out it will help show investor equity. Obviously we are negative (most pinks are) - but there is not much to make up, there is no debts to pay, we have cash on hand - revenues have slightly rebounded - although still negative... if they get back into the black - this will be back over .003-.005 easy - we would be in a much better shape than this was 3-4 yrs ago - because of retiring 25% of the OS. Not to mention any news released will only add to an upward move.
This just needs some volume back - any announcements and fins will no doubt help.
I think we are all on that same boat
Veteran/disabled/small business... whatever they want to sign up for... bottom line is none of it is a requirement - as long as they make revenue - I could care less what designations they have.
RW owned approximately 25% of the OS
They are included in OS.
OS shares include restricted shares owned by officers and institutional investors.
When JS donated his restricted shares to SLS they were accounted for in the OS as per the definition of OS. They are then restricted shares held by SLS - which effectively becomes an institutional investor with restricted shares.
I don't disagree.
More info sure would be nice.
But at the same time - JS does have an opportunity here to do some big things that the majority of sub-pennies cannot do.
That opportunity alone should present some interest. The more clarification the company gets - the better this will trade.
The backs are against a wall - if it hasn't folded yet, and JS puts his own money in to finance this through the case - you have to believe it will move forward rather than back. He had a convenient way to shut down the company and leave with a boat load of money had he wanted to - he didn't.
There is a reason JS donated shares and not cash... SLS's shares help maintain a status for EVRM
SDVOSBC qualifications:
(2) SMALL BUSINESS CONCERN OWNED AND CONTROLLED
BY SERVICE-DISABLED VETERANS.—The term ‘small business concern
owned and controlled by service-disabled veterans’ means
a small business concern—
(A) not less than 51 percent of which is owned by
one or more service-disabled veterans or, in the case of
any publicly owned business, not less than 51 percent
of the stock of which is owned by one or more service disabled
veterans; and
(B) the management and daily business operations
of which are controlled by one or more service-disabled
veterans or, in the case of a veteran with permanent and severe disability, the spouse or permanent caregiver of
such veteran.
SDVO Business Control
To be an eligible SDVOSBC the following must be met:
The management and daily business operations of the concern must be controlled by one or more service-disabled veterans.
Control by one or more service-disabled veterans means that both the long-term decision making and the day-to-day management and administration of the business operations must be conducted by one or more service-disabled veterans
The management and daily business operations of which are controlled by one or more service-disabled veterans or, in the case of a service-disabled veterans or, in the case of a service-disabled veteran with permanent and severe disability, the spouse of permanent caregiver of such veteran
Service-disabled veteran means a veteran with a disability that is service-connected.
Ownership must be direct. Ownership by one or more service disabled veterans must be direct ownership.
A concern owned principally by another business entity that is in turn owned and controlled by one or more service-disabled veterans does not meet this requirement.
Therefor JS PRINCIPALLY controls EVRM - while SLS holds many shares of EVRM - they are exempt because they do not PRINCIPALLY own EVRM.
Wrong...
DEFINITION of 'Outstanding Shares'
A company's stock currently held by all its shareholders, including share blocks held by institutional investors and restricted shares owned by the company’s officers and insiders.
I can include SLS shares because JS gave them to SLS - they own them - I know how much they have(restricted) - they essentially are an institutional investor in that respect. I would assume SLS was given these shares for a reason - probably to qualify for these kinds of programs and entitlements.
I apologize for the statement saying at least 5% - I meant up to 5% - look up company officers and board directors yourself for a list that likely make up a significant amount of shares collectively - yet remain under 5% individually.
How do you figure there will be more?
Exactly - that's my opinion. We will have to wait to get more details that may or may not ever come. Maybe try reaching out to Robert Skinnion instead of JS - being that he's supposedly the guy in charge of Investor Relations.
Well I'm sure his "compensation" is more complicated than current value. Most inside investors and founders have exit parameters already defined in corporate filings and being this was a settlement I'm sure terms and conditions were worked out to be mutually beneficial as to get through the court process as quickly as possible once it was more clear how things would shake out.
easy...
$300,000 for EVRM
$600,000 for RW - remember he gave up all those shares... those shares are worth money - think of it as compensation for retiring his shares.
They said a 25% shareholder forfeited his shares - and got some cash...
retiring 25% of shares is major news. Had this company not been a zombie for 3 yrs - it would have moved quite favorably to that news.
Also there is to be more news coming... of course...
Not even close.
I've stated many times - the money doesn't really matter - I'm guessing they got what they need to pay bills - recoup salary - and have a little to throw in the tank going forward.
The biggest part was the return of stock of a 25% shareholder...
that's the equivelent of a company doing a buyback on 25% of it's shares - that's unheard of - and a huge boost to existing shareholders.
L4P & Doo:
Can we at least agree your worst outcomes didn't happen?
Can we at least agree this is less bad as you both were assuming?
Can we at least agree this is going the right direction?
(Doo)
There's a lot of possibilities that could come from this case!!
1. RW does win
2. JS wins and company goes back to its same old practices, "which doesn't benefit any shareholders"
3. They're both found out as running a stock SCAM while trying to get over on each other.
4. Who the hell knows
(Me - in response)
1. How could RW win his argument? He clearly took the money as a bonus, there is no denying that. He clearly did not get that authorized. He clearly paid off the secretary in some capacity. Even if RW does win - his shares will need to be retired which will only benefit shareholders.
2. What practices would those be? Revenue with no toxic debts? How does that outcome not benefit shareholders? 25% of the shares will be retired!!
3. Your most logical argument. I wouldn't put it out of question, but I have yet to see anything even point in that direction - aside from babble that is totally conjured out of absolutely nothing.
4. Exactly.
My point stands, whoever wins the case is really irrelevant as shareholders are going to benefit from either decision... 25% of the Shares are going to be retired.
(L4P)
I can't answer that.Obviously if it were that cut and dry the lawsuit would not be at month 18 right now.So perhaps the court is possibly seeing that he did have rights to it,i just don't know.
Whether or not the case is won by Sym'sssss i just don't see how the company will be able to generate revenues from a biometric perspective seeing that they have done zero with that 10 year old iris recogintion device to date.
Perhaps the court is considering on how to Give STS back to Dick exclusively.The long drawn out court case certainly could support that notion,and this is why i have said from the start that EVRM is finished when the case is over.
How can this be anything but good?
my ownership in EVRM just increased nearly 50% - and I didn't put in a single dollar more.
It appears next quarter will be important to show whether or not this company can create revenues. Last fins were a slight improvement - hopefully we can follow that trend - and build some equity into the company.
Share structure:
Ok, despite me repeating these figures at least a half dozen times... it's apparent some of us still haven't got a clue.
you forgot 100M of JS' Convertible Preferred shares
it's closer to this:
JS - 223,597,276 common, 100,000,000 convertible preferred = 323,597,276
RW - 438,597,276
SLS (Shelter Legal Services) - 170,972,089
JS+SLS = 494,569,365
RW = 438,597,276
Plus the handful of employees that are at least 5% each
Well...to your point then...
The court case shouldn't affect the operations of "funneling ALL THAT MONEY" into our pocket books - and EVRM will continue funneling money, all while eliminating a 25% share owner - that is quite fantastic news - thank-you
And what's the bottom line for the pps IF 25% of shares are retired - or some equivalent?
It might not happen - but it seems to me just as plausible as any other scenario - no one else has really given me an alternate scenario where EVRM loses out bad - aside from those who see this as RW's company - which it most assuredly isn't.
Gotta look forward not back - this is a huge opportunity for EVRM - whether it's all straight and tight is irrelevant - what happened, happened - it's EVRM's chance to turn this into an opportunity to do something with it. If there wouldn't be a positive to come - I don't think JS would be throwing lifeline's out - he would have dropped it and walked away - and the investors would get burned not him - he clearly has something to gain by sticking around. And what's good for JS is good for investors - he's the largest one left.
Not so bad...
nice to see revenues from operating activities again
not great - but less bad - trending in the right direction anyways
I'm just fine with it as long as the update is soonish (with a 5 day late grace period) - i.e. next week = EOM
Here's a brief rundown
EVRM update.... As of 4/30/2015
*No audit
was in progress up until the lawsuit - which is probably the exact reason there was a lawsuit in the first place.
*No shareholder monthly communication letter
*No task orders
Where does the revenues come from? - aside from this down period during the lawsuit
*No updates on Guam/Mexico/GSS
???
*No tweets
Try this link... I see some...https://twitter.com/evermediagroup
*No update on lawsuit
Check The company website, facebook account, or twitter account - there are updates
*No contracts(see I-box)
This is the same comment as 'no task orders' - thus has the same response (see above)
*No iris installs anywhere to be found
They have stated many times they are in development stage - working on prototypes. nowhere does it say they would be put into production
*No Uplisting
same time as audit hang-up... ran into legal issues that sapped all the funds... we will have to see the newest updated list as soon as the whole case has ENTIRELY been settled - they can't put out half info - they need to wait til it is all done and cleared and passes legal aspects.
*No news on overseas pleasure trips
where did this come from? the only thing i've seen is RW using funds in an inappropriate manner - but I don't know the details
*No news on Sym'ssss legal shelter services
what news are you looking for?
*No word on the 80-100 million the company said it was worth
I already explained where those figures came from and it makes perfectly logical sense from a market capitalization stand point.
*No word on the 2006 Seaport contract
correct me if I am wrong, but, I thought they posted an application for work - not that they got a job?
*No word on all the teaming agreements/partnerships(see I-box)
Look on the google... there is lots of news (pre-court time)
*No real proof the company is not a shell/front
No real proof it is - if you so boldly conclude it is - turn him in - prove it. I'll give you credit for busting this ring.
*No proof this company is any different than Sym'ssss previous
...technically I could by pulling up corporate records, by-laws, ownership, share structure, etc.
Perhaps the lawsuit has opened a much bigger can of worms in such the courts are looking into the true identity of all the members of EVRM,it's true intent and what could be perhaps...well,you get the picture
Technically that is illegal to do... they can only act for the manner in which they are in court. The companies have settled - there is no witch hunt to the members of EVRM - done - finished. I would rather assume, there was an agreement in order to avoid further discipline to RW and PW - after all - if they were going to be convicted - it could've gotten ugly for them- maybe EVRM just wanted their money back and or new share structure?
I can agree that there is some lack of info and communication - and some things that seem silly (not filing 'properly' on time every quarter) - but that's why this is a pink sheet company - and runs no differently than any other pink sheet company - they get investors pumped up with info so they buy shares, dilute the shares keeping their control while you lose yours and your investment - then they may or may not close shop due to some random legal events... I mean really its the same story all the way around. If you don't like it don't trade pinks... at least not for the long term. Some of us have shorter dated investments and are not holding onto sunken shares.. not all of us care about news dating 10 years back from when this was not even EVRM...
I like this chart - shows .0012 importance
not sure how to post a picture though - someone one else can help with that lol
stockcharts.com/h-sc/ui?s=EVRM&p=W&b=5&g=0&id=p70332226801
.0012 is a key level for EVRM
- if it can hold that level going forward - it will prove a bottom to this for good. Once again - it's up to the co. to get this right.
I would assume there will be money - whether in the form of the funds taken - court costs - or both... maybe not the full amount taken - maybe full amount but not court costs - dunno.
Stock back - I dunno - it was a major part of what they wanted - that would make existing shares instantly worth a lot more - which would not only boost share holder value but JS' and SLS's as well.
I would much rather have that than some cash - that would get used and be gone fast - getting stock back is more long term - its an opportunity to take back shares - something that is very costly and very good for stocks and companys.
If RW keeps shares - there will be a lot of stipulations on them - they'd be dead weight to him I would think - Its just a conflict of interest issue that certainly was worked out in court.
But they're going to need operating funds - so I suspect it would be at least some of each.
Exactly
retire 25% of the shares and your talking over .01 immediately - just on pure valuation alone