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My favorite and most flagrant FLAW of this ridiculous "Sasser Motion" comes from the following document:
DECLARATION OF CHARLES C. DAVIS, JR
Attorney, Division of Enforcement of US SEC
Such colorful descriptions too
Many flaws, like the one quoted below from document two, the whole Cresta and GFGU issue.
What is materially wrong with this argument is SpongeTech didn't purchase anything. It was RM Enterprises that cut the check for the GFGU share offering. Guess this Jim Sasser wasn't a bagholder when all of that GFGU business transpired.
Would they not need proof that this is the case: bashing to cover a short position?
Evidence vs accusations are completely different things...
This is precisely why I actively engaged with the authorities: local and federal.
Should something happen mysteriously to me or those close to me, the authorities now have their first lead!
I could care less about the possible threat of lawsuit; there's cause or merit to it, IMO.
However, I do care and am extremely concerned about my safety and life! This press release is direct threat to both!
PUBLIC PLEA: If I mysteriously stop posting, please alert the authorities to direct their investigation to the press release.
My disappearance will most definitely be connected to these vigilante-style threats and harassment through physical stalking.
The underlying intent is disguised as moving forward with legal action; there are true implications and undertones of endangerment contained within that particular press release.
There are legal means of obtaining information if one shows cause, not through vigilantism with bounties/rewards.
Cyberstalking?!?
Isn't this PR talking about actual STALKING with an intent to intimidate, harass, and possibly endanger lives?!?
Hypothetical - I have this guy named Drew that I despise who lives in my neighborhood. Always nit-picking about "your car is illegally parked", "your lawn isn't mowed properly", "your dog is barking too much", "your home entertainment system is to loud", and on and on and on.
So, if I supply information of his whereabouts and he disappears, was I complicit of a crime for receiving $100 to provide his PERSONAL information?
Bounty for people's personal information. Sounds rather foreboding.
If this is the case, then WNBD is "just another penny stock"!
That's the whole point. So many continue to state how solid WNBD and Eric's plans are, but thing can "quickly change" in penny land, makes WNBD nothing more than the POS it is!
Truth is, WNBD and Eric aren't a stable, solid company. Up and Down. We're "on"...we're "off". We have Lowes imminent...it's delayed two years.
Only thing quick-like about WNBD is how fast Eric cash's his payroll check!
IMO -
This counter suit will be a landslide judgment to be referenced in the future against the numerous criminal and fraudulent microscam penny stocks that chose to use the judicial system as a vehicle to further perpetrate their deceptive agenda by stealing from the investing public through intimidation with frivolous (ie sue for $400M) lawsuits against individuals! Sad thing, they take the money they steal from their investors selling shares, turn around and pay for these frivolous actions against the very people providing the money to do it!!!
I hope the NY Bar acts appropriately!
I hope the lawfirm, including dad, acts appropriately!
I hope the NY Courts act appropriately!
I hope the NY Disciplinary Committee act appropriately!
Again, if this moves forward (as I hope it does) this will be a monumental case precedent for future scum lawyers to think twice! Don't be derelict in your duties as officer of the judicial system and your profession!
He's spending it in NYC, helping out the economy.
Eric is doing a splendid job. Can I throw in a "Weeeeeee" for good times sake?
1. Reverse Split
2. Rinse
3. Repeat
I always had my suspicions about Eric...this past week rang true in so many inexplicable ways!
BAILEES - (c). the names and last known addresses of all bailees
Nice!
This is only the CIVIL case!
DOJ/FBI may have some more to dole out afterwords!
SO ORDERED on March 14, 2011
DORA L. IRIZARRY
United States District Judge
0.17c - Nice! Fair value per WNBD's CEO!
Thanks Eric!
Lawsuit Threat Kool-Aid
"The will shut 'em up and obscure the truth!"
What I don't understand, is why no one can explain how shorting WNBD would be financially sound.
Why would someone chose to pay $2.50 a share to short a penny stock sitting at 2/10ths of a cent?
To make any kind of impact on the share price with WNBD's O/S sitting near 2 BILLION, to make any dent what-so-ever, you would have to shell out 10s of millions of dollars. Let's "pretend" for a moment and speculate WNBD's collapses to 0.0001; what would one profit from shorting 10s of millions of dollars?
The "short rhetoric" is ridiculous to suggest on any penny stock.
Mathematical example proving my sentiments:
- Short 50M shares to collapse WNBD share price (probably need much more; 50M is only 2.5% of WNBD's OS!!!)
- 50M x $2.50 = $125,000,000
- Current PPS = 0.002
- Theoretical collapse to 0.0001
- Close out your position @ trip zeros
What did your $125M dollar investment earn you? ROI?
50M Shares $ Value @ 0.002 = $100,000
50M Shares $ Value @ 0.0001 = $5,000
Profit = $95,000 (minus commissions, etc)
ROI on $125M investment = 0.00076 or 0.076%
Ridiculous, yes?
Show me where I can short a penny stock for less than $2.50 a share, and maybe I will short WNBD!
Speakin' of Texans!
Here's a message board for Texas Aggies and people being "recruited" to join aboard the FLD Money Train!
http://texags.com/main/forum.reply.asp?topic_id=1701037&forum_id=57
How many other similar instances of this very conversation occurred across America?!?
Football! I miss football!
And the one posted on the EIGH message board was one of the biggest fabrications out there--and for that, it was removed for being simply "Off Topic".
From what I can tell, that PR was not an official PR of any kind. The only "proof" that can be found via a web search is iHub, and the message was removed.
Official PRs (legitimate, real, formal) are released via proper channels, thus can be found via web search and a link should be available. The fact is, DR. Williams' latest alleged PR doesn't even show up on his website, yet I can find several official EIGH PRs that states that Williams has a PhD, and references to several talk show episodes, stating Williams is a retired US Naval submarine officer.
I find it interesting, that people with ONE ALIAS, tend to side with Monk and his band of merry fraudsters (Monk's Den) that are responsible for 1,000s of good people losing their hard-earned money. I bold the ONE ALIAS to point out iHub admin are very good at finding and terminatng people's account that are suspected as being associated with multiple accounts/alias!
Terminated A person whose account has been roasted for good because of the way they've conducted themselves or because they've used multiple accounts. They can't respond to Private Messages because they can't even log in.
Example of a terminated account: http://investorshub.advfn.com/boards/profilea.aspx?user=102802
If you suspect someone with multiple accounts, I suggest you alert iHub admin and let them figure it out. IP Addresses aren't too hard to match up!
What?!? Not signed...
Jerry Williams, Phony Doctor?
<insert rank here>, USN Retired?
Who's lying to whom?
Unfortunate!
I think someone bought 16M shares from corporate dilutive action via 504s!
Eric likes doing that, with a smile on his face stating "I care about the share price and the shareholders! Not only am I an overpaid CEO, I'm a shareholder."
Highly doubt anyone "panic sells"...that would mean there would be "panic buys". This drops further, there will simply be bag-holders, not willing to take their paper losses to the "reality" column!
He's more of an Internet Blogger than a CEO (of course, IMO.)
Eric spends more time there pontificating non-nonsensical information (he makes me look bad, huh?) than really doing what he needs to be doing!
If he spent half the amount of time for blogging on the 10K, we'd have already seen how well WNBD did in 2010!!!
What really stuck out was how he failed to mention the 504s originating from Georgia. He talked about, in a very long drawn, round about way, but no specifics.
504s is WNBD's tragic flaw!
Dennis, I have appreciated your factual account of the situation from day one. Although very bleak, it's just the facts and truth, carefully dissecting the WNBD CEO's verbose positive spin on everything transpiring. Not your fault how the WNBD's CEO decides to act and blog.
It is truly unfortunate WNBD's CEO can't just deliver the facts of the matter, that dilution is happening on an accelerated pace and is the only thing fueling WNBD's operations.
Sad state of affairs; would be nice to see if WCSR can eventually catch on, but without any type of awareness--product, consumer, investor--WNBD is on the verge of drying up and dying on the vine!
This is why the SEC should be allowed to repossess and auction assets of the fraudulent criminals.
All that money should be used to fund SEC operations!
Are you suggesting an increase in the authorized shares would be well received by existing and potential shareholders?
I think if Eric decided to pass a resolution increasing the A/S would be disastrous, especially so he could pay himself.
That is troubling indeed!
Yes, my comments are disparaging and speculative (like WNBD) in nature, but are based on facts.
Fact: WNBD Share Structure = 5B A/S
Fact: WNBD has roughly 3B A/S left to issue
Fact: WNBD CEO has $120,000.00/year salary; exhorbiant IMO for WNBD poor performance
Fact: WNBD has been at this "building a brand" for 5 years on the back's of shareholders
What "false information" are you suggesting I am spreading?
Just think, if WNBD fully exhausted it's remaining authorized share structure at 0.0001, WNBD would last only 2 years and would need to solely rely on product sales to sustain itself!
Why only two years? Well Eric's salary alone at $120,000.00/year would just about exhaust what they have left in the A/S to dilute with.
They roughly have 3 billion shares left in the A/S which would equate to $300,000.00. In two years time, Eric's exorbitant salary would exhaust that!
Trying to put things in perspective and rationalize the gravity surrounding WNBD's "Going Concern".
Who cares...probably another co-defendant!
How long has this "debate" been ensuing?
I've heard from some, 11 Years!?!
True?
Either they have what they say they have, or they don't.
The eternal carrot dangling technique sure works nicely too, I guess!
Two points:
1) Do you think it's cost effective to send WNBD's highest paid employee to be the "road warrior"--shaking hands, placing store displays and brochers, edcuating/training retailers and consumers?
2) Your theme surrounding training of the retailer and service reps: can you elaborate? A stain remover is not rocket science. Are so saying the part-time, minimum wage employees of each retailer, or even the full time, minimum wage employees at these retailers is WNBD's salesforce? YIKES!
These people will not sell the VALUE of WCSR unless they actually believe and use the products themselves. That's who should be receiving the 50,000 sample packets...make them use it and believe that it's a good product. Not the "Average Joe" walking on NYC streets. Which would you prefer to hear:
a) "I see you are looking for a stain remover? Let me demo you this product on how great it is. I think you'll like it and should give it a try. Oh, you are trying to remove stain X. Well, let me show you how it takes out stain Y. I know it's not stain X, but I don't have X to show you."
or
b) "I see you are looking for a stain remover? What kind of stain are you trying to remove? Let me show you this product. I've used it myself and it does wonders on stain X. I highly recommend as it and it can has many uses! I've taken out stains A, B, C, D, E, F, G, H, I and J. I'm confident it will take out stain X. If it doesn't, bring it back for our stores 'Money Back Guarantee'."
Let the "salesforce" use the product! Hand out the free samples to them! Not passer-bys!
Trip zeros would be nice. Then people would know 504s aren't benefiting either, and only way Eric can get paid is actually do his job.
Thing about it, there he is, freeloading another "ALL EXPENSES PAID" trip to New York City on the shareholders dime under the guise that he's working for the shareholder turned STUCKholder, who is now squabbling over a 1,000th of a penny!
Look at him smiling! He's having fun mocking all the shareholders!
Where are you staying, Eric? The Waldorf-Astoria?!?
"WEEEEE!!! Isn't this fun? Taking pictures with the locals, and my iHubbers are eating it up!"
Alright Ant, let me ask an honest question?
How are any of the current initiatives any different from the past failed ones?
What has Eric learned from his past failures?
I see that he has a blog to keep the iHub message board update, and added a Twitter and Facebook account.
But what is he doing to promote his NYC launch to make is successful?
Well, I think M&M are great presenters...
Sophisticated!
Dynamic!
Personable!
Charismatic!
For the pre-school play!
Great post Ant!
This goes to show you, Eric's current course of action isn't working.
1.2c to 0.2c!
Any other suggestions?
Blog doesn't work!
Twitter doesn't work!
Facebook doesn't work!
Maybe get involved with the iPad THREE (3)!!!
SPNG on the NASDAQ yet?
Go listen to the professional CON MEN at the 2009 Noble Capital Market Conference in Miami, FL!!!
What a "memorable" event!!!
http://hosted.mediasite.com/mediasite/SilverlightPlayer/Default.aspx?peid=3bf950b23c3d4cd79150b998f17295be