Catching Astroturfers
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Crooked Steve getting rich at Shareholders expense.
THE CEO SOLD..over...$1 MILLION in SHARES..over..the..past..year
WRONG...THE PROBLEM..is..the...TOXIC..CEO.....and..95%.OVERPRICED APP.
CEO is the ONLY one MAKING MONEY..HERE
NEW LOWS.....4s are UP......AWESOME DROP!!!!!! SCAM STOCK!!!
Opportunity to LOSE ALL YOUR MONEY.....ENJOY!!!
ACTUALLY...It looks more likely that they stole the tech and are using it as their own product. That is why you cannot give such people the code. DUH
FICTICIOUS REVENUE BEING REPORTED...is..a...CRIME
Accounts Receivable NOT BEING COLLECTED.RED..FLAGS.SCAM!!!
The bottom line with ONCI is that every quarter for the past 10 quarters the Accounts Receivable increases by very close to the Gross margin. (revenue - cost of sales)
This past quarter saw Accounts Receivables (A/R) rise by $869,215, After the $635,921 cost of sales is deducted from Revenue you are left with $851,444.
So they are claiming $851,444 for Revenue for the quarter after costs, BUT are owed $869,215 more than the total at the end of the previous quarter.
This means that A/R from the previous 9 quarters has not been paid and that it rose more than the Gross margin in this Quarter. (AGAIN)
This is a VERY STRONG INDICATION OF FRAUD.
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Copied below from https://blog.apruve.com/6-types-of-accounts-receivable-fraud
Fictitious Sales
Accounts Receivable is not actual money in the bank. An employee can fabricate invoices, which will inflate accounts receivable. But who might this benefit since an invoice isn't the same as receiving cash?
Sales people who work on a commission will benefit from an increase in accounts receivables, as it will show an increase in sales. To make this work, someone in control of accounts receivables will have to be in on the fraud.
Red flags for this type of fraud are invoices to fake customers or invoices that do not match the type of business a customer might generate. At some point, these invoices might simply disappear as part of the fraud and go undetected. Internal controls that monitor this type of activity can help with detecting fictitious sales.
NOTE: CEO Steve Berman receives a 12.5% commission on all sales.
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More info from https://www.get.com/stock/2010/03/11/accounting-red-flags-10-things-investors-should-look-out-for/
Accounting Red Flags: 10 Things Investors Should Look Out For
1. Unusual accounts receivables growth. If accounts receivables grow at a faster pace than the company's sales, it can indicate that the company is making bad sales to companies unable or unwilling to pay, which could result in bad debt down the road. It may also indicate that the company is booking revenues before the proper time, which is one of the most common practices within the universe of manipulation. Future sales are simply recognized early, inflating earnings. The tell-tale sign, of course, is accounts receivable growth in excess of reported revenue levels. Studying the dollar amounts is not adequate to spot this. Instead, compare the rate of growth in year-to-year revenues and receivables.
ONCI has higher A/R in six of the past nine quarters than their Gross margin.
Bottom line is that ONCI is NOT BEING PAID for the past 10 Quarters on any measurable A/R at all, or it is made up revenue supported by phony sales contracts. A third option would be that they have shipped units to dealers on consignment but they have not sold more than a few units. This would need to be disclosed to investors. As they have made it look like they are selling 9K to 10K per quarter and that is not possible due to these numbers.
My hope is that this fraud is uncovered by the SEC and that the CEO is prosecuted for these alleged crimes. I hope no more investors lose money due to the fraud committed here. I was fortunate to find out about this fraud in time to avoid losing a lot of money.
THE DILUTION IS HORRIBLE...BILLIONS...PER...YEAR!!!!....FEEDING..FAT..STEVE
STEVE has gotten RICH..off..of SHAREHOLDER LOSES. BELONGS..in..JAIL
FACT:ONCI HAS DILUTED.past..9..QUARTERS.and.has..FILED..for..$1.Million..MORE..DILUTION
NO IDIOT...is going to pay .0024...for..ONCI..selling..at...0005.....LMAO...NOBODY..believes that for one second.
THE COMPANY IS SERIOUSLY OVERPRICED RIGHT NOW.
.0003 will be seen by the end of summer.
YEP....ONCI is the BIGGEST SCAM..on..the...OTC
NOWHERE..is..it stated..that..they..CANNOT..lower the PRICE....NEED $1.MILLION..somehow???
UMMM...YOU just posted NO DILUTION...LMAO
WRONG..ONCI..HAS..FILED..TO SELL $1.Million.in.new.shares.3.4.BILLION NEW..DILUTION!!!
He is trying to trick you into buying his worthless shares.
5000..POLICIES!!!!...OMG.....USE SNAIL MAIL TO MARKET.....WHAT.a.LAME....CEO...LMAO
TRADING HALTED......SEC INVESTIGATING ONCI...BIGGEST SCAM ON THE OTC
That is my guess, and it is about time.
GOT an IOU as PAYMENT......FICTICIOUS REVENUE..IS..A..CRIME....ONCI.=.PROVEN..SCAM
ONLY CASH FLOW....is from SELLING SHARES.....HUGE DILUTION HERE
MORE BS and LIES from the CEO
Giving these people in other countries the software was likely a BIG mistake. It looks like they just created their own product from it. Probably had to do it due to the $175 per unit hardware cost the CEO was pushing.
Steve RUINED ONCI with his FOOLISH GREEDY pricing. THAT is why NONE of the potential deals ever panned out. Plus the fact that the PUBLIC does not want an app controlling their phones installed in their vehicles. I have polled many people about the product back when I thought it was good. NOBODY i talked to thought it was necessary or wanted to have it.
That’s the TRUTH to the ONCI CON
NOBODY WANTS A $200 APP.....LMAO...PHONEHOLDER.IS..BETTER
Typical PUMP and DUMP...WORST on the OTC.
There will be a LAWSUIT against STEVE BERMAN...CROOK
What about the SNAIL MAIL CAMPAIGN..to..5000..policy..holders..GRANDSLAM.....LMAO
RIDICULOUS. ONCI..is..a..WELL..KNOWN..SCAM....BANKRUPTCY SOON!!!
Could be worth $100 max to ONCI’s revenue....LMAO
So how do you explain the Accounts..Receivable numbers going up every quarter for the past 9 quarters? Looking at the numbers makes it clear that payments are not being received from A/R.
Add that to his other illegal behavior...How..do..you..thing..he.is.FAKING the sales numbers?
Sales orders with a nonexistent company? Or some kind of consignment deal that is not working out?
The A/R number always rising by the same amount as the Gross margin are what tipped me off. I also reported the CEO to the SEC.
IT is a SCAM even at .0001..as..you..posted...two days ago.
You were correct when you called..ONCI..a..SCAM...600..times
ONCI..is..the..WORST..stock you could ever..invest..in..IT..is..the CEO’s PERSONAL...PIGGYBANK
TWO.DAYS..AGO..you..said...”Like i said i will not buy SCAM at .0001”
SO instead of not buying at .0001 you bought the scam at .0005 or 6???
Say goodbye to your money.
NOBODY needs..or..wants...ONCI's APP....There.are..better..LESS EXPENSIVE OPTIONS.
SNAIL MAIL.....LMAO
Like you said yesterday...”SCAM fake revenue and news”