Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Yes, news. But not good news. Just another inexplicable delay. Despite COVID-19, virtually all other public companies have been able to file their 10q for 1Q that was due 52 days ago
One day soon, they will have to close up shop and it will be nothing but a worthless shell.
That 8k was 42 weeks ago. Since then the company has issued 100,000,000 more shares (from about 40 million to 140 million) and the share price has fallen from about 25 cents to a penny and change. It has defaulted on loans, been unable to pay employees salaries and has been delinquent in filing annual and quarterly reports.
Sorry. It was Timing101 who posted that.
In fact, you are the one who posted the Form 12b-25 which ITOX submitted to advise that they would not be able to file on time.
The technical difficulties at the SEC had nothing to do with ITOX’s failure to file. It is no excuse for ITOX.
The technical difficulties at the SEC had nothing to do with ITOX’s failure to file. They had already stated they were not filing the 10-Q today because they had been unable to complete the review process with their auditor.
Irresponsible management. They treat this like a part-time gig.
No 10-Q. Troubling pattern of not filing when they said they would.
I see nothing positive except unsubstantiated hype by some
on this board.
Lots of negatives:
Late filings
Virtually no cash as of last report
Virtually no current assets
All employees are part-time with an
hourly wage as “consultants”
The top 3 officials all had to forego
their salaries and apparently
rely on other endeavors for their
income.
It will not bode well if there is another delay in releasing the 10-Q which is due today.
Thanks, Ted. If it a case of salary deferral, then this is indeed encouraging. Tantamount to key employees sacrificing salary and investing in the future of the company. Would obviously indicate they feel strongly about significant appreciation in the future price of the stock.
Thank you, Ted. Your responses and fact finding contributions to posts on this board are very helpful.
The Form 4s for the four employees all contain a note that their rights to stock appreciation vest in 3 installments over a 3-year period of time and are contingent on their continuous employment.
That restriction and the fact that, despite our hopes and expectations, there is no absolute certainty of stock appreciation over the price on the award date (June 23, 2020) makes me think that this award is not apt to be tied entirely, if at all, to salary deferral.
As you point out, we will find out soon through the 10-Q.
The award of these options to Fisher suggests he may have earned a performance bonus by securing a major contract for Sigma.
Sure hope that is the case. We should soon find out.
I believe ITOX has stated they will file 10-Q for 1Q by June 29. So, I guess we’ll soon see what kind of progress the company made prior to the onset of the pandemic.
Really lousy numbers and terrible balance sheet.
10-K states that there are 5 employees and all of them are part time.
Report also indicated most recent office lease was for $2,000 per month. What kind of office space can you rent in the Boston area for such a nominal amount?
And outstanding shares have tripled since December. Almost 100,000,000 outstanding shares have been added in the last 6 months.
All this re-enforces my notion that ITOX is a sideline gig for Emmons and his associates and that they depend on other ventures for their primary compensation.
You are assuming the news would be good news. I’m concerned that the now inexplicable delay in issuing the 10-K may be the forbearer of news that is not so good. The company is apparently out of money.
The actual current assets for ITOX as of September 30,2019 were $ 81,467. Current liabilities were $ 1,548,827.
I have sold all my ITOX and will be moving on to hopefully better investments. I remain dismayed over the unwarranted hype on this board about how promising the future is for ITOX on the basis of the CEO’s college degrees and prior employment as one of many VP at Medtronic.
This appears to be nothing more than a shell of a public company created in order to effect massive dilution.
The last 10-Q filed by ITOX stated there were 42,775,966 shares outstanding as of September 30, 2019.
How many shares are outstanding now ? Something like 140,000,000 ?
Seems like very significant and ongoing dilution for a company that apparently has little or no cash and little or no revenue.
Current assets as of September 30, 2019 were less than $50,000.
Sorry, but until they file reports to the contrary, there is little evidence that ITOX is a viable and sustainable business.
I am seriously wondering if ITOX is simply a sideline for Emmons and the other 2 employees.
The 8-k issued by ITOX yesterday states that Emmons, McNemar and Coufal “forgave accrued and unpaid consulting fees owed pursuant to current and previous consulting agreements.”
That leads one to wonder if ITOX’s only 3 employees have a primary source of current income from other endeavors.
It is also perhaps instructive that the 8-k refers to their consulting fees. The fact that their ITOX compensation is referred to in terms of an hourly fee - as opposed to a weekly, monthly or annual salary - suggests that whatever work they perform for ITOX may well be on an irregular basis.
I hope that ITOX is still a viable business, but there is little current evidence that it is.
The vast majority of companies have now filed. The pandemic has been disruptive, but most public accounting firms have been able to complete their work remotely. And ITOX’s 10-k should be much simpler and less time consuming than most
The continual delay in issuing the 10-k is inexplicable.
Does the company not have sufficient cash to pay the accountants?
The debt is not exactly erased. At today’s prices it is convertible into some 30,000,000 common shares which of course dilutes the other shareholders.
Late filing of transactions from September and October of 2019.
Surprise which way? Good or bad?
I have a significant amount of shares in ITOX and would obviously like to make money on my investment. But I am becoming increasingly concerned because many of the posts on this board just hype the stock with little substance. I ask questions in the hope someone can provide substantive answers.
What choice do the employees have other than to forego or defer their salaries if there is no money with which to pay them?
And what does anyone on this board really know about Emmons’ contacts? The fact that he was one of many VPs at Medtronic does not necessarily translate into business for ITOX
Charlie, you overestimate “all the volume.” It was less than 3% of the outstanding warrants. All the trading in the warrants on Friday amounted to about $10,000. It is no big deal and not necessarily indicative of anything.
The following 3 filings would seem to indicate that ITOX is out of money or operating (?) on a shoestring:
1. Aingura had to advance ITOX $35-40,000,
2. Emmons and other staff have had to forsake or defer their salaries, and
3. Darbie had to arrange a $70,000 private placement.
The lack of liquidity and the inexplicable delays in filing the 2019 annual report are of great concern. Is ITOX capable of staying in business in an ongoing basis?
I really hope Cliff Emmons and his associates will turn ITOX into a successful company, but I don’t understand why all the hype on this board about his degree from M.I.T. and the fact that he was a VP at Medtronic.
There are hundreds of thousands of businessmen with advanced degrees from M.I.T., Stanford, Duke, Ivy League schools and other prestigious institutions. Many are extremely successful. Others mildly successful. And some not particularly successful.
And there are also thousands who are, or have been, VPs at Fortune 500 companies, like Medtronic. That too does not necessarily assure success when they take over, or start up, a new business.
The jury is still out on Emmons. Let’s wait until there are tangible results before we anoint simply on the basis of his education and the fact he was one of many VPs at Medtronic.
And, the same goes for all the hype about ITOX’s collaboration with Aingura. The only benefit I have seen to date is the fact that Aingura advanced ITOX something less that $50,000 in order for ITOX to meet current expenses.
Let’s see some actual contracts and revenues before we sing the praises of Emmons and ITOX.
Maybe Fidelity knows more about ITOX than we do and is just trying to protect their customers. I hold a significant position in ITOX, but I find the delays in issuing the annual report inexplicable. For a small company like ITOX, it should not be a difficult or complicated task despite the Covid-19 issues. It makes me wonder if ITOX is just delaying bad news in the hopes something good will come along to mitigate the sting. I hope I am wrong.
Emmons may well be very talented and capable of leading this company to great accomplishment. As an investor with a sizable stake in ITOX, I hope he is.
But, I do suspect you are greatly exaggerating Emmons’ uniqueness.
He was just one of a great many Vice Presidents at Medtronic and the average salary of Medtronic Vice Presidents is reported to be in the $250,000 range.
What product do you think they are delivering and what do you know about their team? Last report I saw indicated they have a total of 3 employees including the CEO.
In the last couple of weeks there has been a significant decline in the number of posts on this board.
What has happened to those who used to post regularly - several times a day in some instances?
I worry about Covid-19 and hope those we have not heard from are well and safe.
Sigma qualifies. Given their current financial situation, why shouldn’t they utilize the SBA loan program?
Thank you, Outlook. Your views are encouraging and appreciated.
Not too long ago, Siemens, Honeywell, Woodward, Aerojet Rocketdyne and Pratt & Whitney were among those listed as strategic partners or companies that were evaluating PrintRite3D.
Is that still the case? I haven’t seen any recent mention of those firms in the Sigma presentations.
What about Trumpf?
Today’s volume is about 20% of the issued shares. Equivalent to 5,000,000 + prior to last RS. Lot of trading !
The fact that Sigma has not issued a PR or commented on Additive Industries’ announcement yesterday that they had installed 3 MetalFAB printers for an aerospace company in Southern California indicates that PR3D is offered as an option and is not embedded in AI’s printer.
Can you or anyone else on this board provide any additional information as to what the present status is of PR3D with AI ?
Thank you.
No, it did not bother me at all. I took it as a very positive enhancement of PR3D.
I quite agree with your assessment. The constant drivel from a few posters has silenced or driven away
many erstwhile contributors. There is little substance nowadays.
I look forward to the conference call tomorrow (Tuesday) at 4:30 EDT.
It should be very interesting and very important given the present state of things with Sigma and with the global economy.
I hope there will be good participation on the call by Sigma shareholders. Among the questions I hope are addressed are the following:
1. In the letter to shareholders on August 15, 2019, John Rice stated
“...commercial orders are now on the horizon for Q3 2019 with a clear line of sight to breakeven point by early 2020.”
What is the company’s present expectation now that we are at the end of Q1 2020?
2. How many RTEs were there? How many are still in phase 2 ?
How many expired without resulting in ongoing business for Sigma?
3. Is PR3D imbedded in the MCP Control System or simply offered as an option to Materialise’s customers?
I intend to be on the call, but each caller may well be limited as to the number of questions. I hope others will step up with these and other questions.
Best wishes to all during these difficult times. Stay well and stay safe.