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Gary Kimmons has no association with the company other than being a shareholder. That's it in a nut shell.
Beyond that, what you are saying makes absolutely no sense. ESCU has not issued a single PR to stimulate trading (in fact, there has been very little), nor has it sold a share of stock. That's a fact.
You do realize that it's a totally new company with a different group of people serving as management, right? Sohail Quraeshi is CEO. He runs the company completely. He also holds the voting shares. Where I come from that's game, set and match. It doesn't matter how many shares anyone else holds, or what position they used to hold in the company. Kimmons is out, period. He's simply not in a position to affect what's going on.
The company was recapitalized a couple of months ago.
Look at the filings. The facts are all there. Kimmons paid himself very little in cash each year for the last five or six years. And he sold NO stock. Now he holds restricted shares that may or may not have a value in the future.
If ESCU pans out we all win. Right now Quraeshi is doing the right things. I'm sure we all can agree that completing the audit, restructuring the company's financials and qualifying it for SEC filing are good things.
Per the filings, Kimmons was issued restricted shares as payment in full for his decision not to take a salary. Since he had not been paid in a half dozen years, he received the 1.4b shares. He did not convert a share and sell ANY stock for over 10 years. That's what the filings show.
Kimmons has 700K shares of ESCU. He is not an officer or director, nor does he have voting control. He has not been with its predecessor, EDWY, for over 2 years. He has not put out a PR in 3 years. Exactly what is he "selling?" And how?
What scam? ESCU has not put out a single press release. They have not asked you to invest a dime. And why the fixation on Kimmons? He has no involvement with ESCU.
There is no indication that what you say is true. ESCU is performing a detailed audit in preparation for filing an S1 with the SEC. It has made NO promotional announcements, nor has it issued any stock. Kimmons is NOT an officer or director of ESCU. Quraeshi has full control of the company and is moving it forward.
Again, your post is not corroborated by the Q2 Disclosure Statement. The company did not have $41 million to spend.
What company are you looking at? It can't be ESCU! The ESCU financials for Q2 show something completely different. There is only $360K in debt with no money spent by the company so far in 2015. Clearly the new auditors have been involved, and now the true story is appearing.
This is ESCU now, not EDWY. You might want to read the ESCU filing at OTCM. Kimmons has not been involved with the company for over 2 years.
Sohail Quraeshi is CEO. Things are looking very good for the company. It has a new business plan and is working with its auditors to bring everything current.
Not to worry. Share structure still the same. Beautiful! Go FlashZero!!
SWEET! Looks like ESCU just revealed the financial picture under its new management. The OTC Markets Disclosure Statement for Q2 was posted this afternoon.
I had heard they were auditing the financials they inherited from the Kimmons group. This is our first glimpse at what they found.
WOW! best describes it. Only $300K in debt on the balance sheet and a loss carry-forward of $29M. That's a HUGE tax offset against earnings.
The word is these numbers were supplied by the auditor. Couple that with a VERY TIGHT stock structure and (to date) no selling and the stage is set.
Looks like a VERY POSITIVE PICTURE.
Off by a mile! Ramiro's CEO of FlashZero. A proven winner. Go Ramiro!
Totally disagree. GO RAMIRO and GARY!! GO FLASHZERO!!
Absolute baloney. Go Ramiro and Gary! Go FlashZero!
The BOTTOM LINE: The CEO of the company makes all decisions regarding corporate expenditures. The buck stops with the CEO. NO ONE ELSE. That person at FlashZero is Dr. Jordan, NOT Gary Kimmons. End of debate.
"MEYERLANE", just another REMINDER. Dr. Ramiro Jordan is CEO of FlashZero Corp.
As such he is responsible for the corporation's finances and expenditures, NOT Gary Kimmons.
The role of the CFO is to MONITOR the corporation's finances and REPORT those to management, government agencies and shareholders.
The CFO does NOT make decisions about financial expenditures.
Therefore, concern about Gary Kimmons may or may not be doing is IRRELEVANT.
And does the PR say that Chris Mitchell is no longer associated with FlashZero??
The answer is NO. That is your ASSUMPTION.
Chris Mitchell has tremendous capability beyond that of CFO.
I suggest that you call Dr. Jordan to clarify.
"MEYERLANE", where are the FACTS to support your contention?
Is there an announcement or other FACTUAL source?
"SIMMONS", could it be POSSIBLE that NO ONE other than YOU have an interest in events that happened YEARS AGO in a totally different company from FlashZero?
'SIMMONS", Gary Kimmons has not worked for EDWY for SEVERAL YEARS. Comprende?
"MEYERLANE", this post does to provided us without ATTRIBUTION or CONTEXT. Without those, it is MEANINGLESS.
WOW, now this one's a WOPPER. Apparently you CAN make this stuff up. Here are the FACTS, "MEYERLANE':
1. The "quotes" you claim to have accumulated were NEVER made by Gary Kimmons.
2. There was NO major accumulation of shares, and NO significant increase (or decrease) in share price. (If you know people who were major purchasers, WHERE ARE THEY?)
3. It was made perfectly clear from the outset that this was a proposed GIFT to EDWY shareholders and that FINRA had to approve the proposed action. Unfortunately, FINRA would NOT give its approval for the move. It said that there would have to be an IPO for the learning subsidiary.
This information is all in the EDWY filings for those who care to look.
One thing is clear: Gary Kimmons did not lie. He simply was not able to bring the GIFT to EDWY shareholders.
"MEYERLANE", how did you jump to such a conclusion?
Edward Bronson picked up shares in EDWY. Who knows where he got them?
According the the filings, Bronson and his firm DID NOT provide capital to EDWY.
"SIMMONS", where is your evidence that there was a scam at EDWY? I don't see your answer.
COME ON NOW. I've already gone over this with you. There have been:
NO. SEC violations or investigations of EDWY
NO. Shareholder lawsuits
NO. Individuals claiming they have been harmed
Those are FACTS. There has been no SCAM.
Regarding Gary's wife and mother, COME ON NOW!!
Regarding the chill, again, it had very little to do with EDWY. The chill came via a lawsuit between a shareholder, Edward Bronson, and the SEC. NOT EDWY.
The only remedy is to file an S1, which costs around $50k counting the accountants and attorneys. I suspect that will be remedied by the new team at EDWY, who have substantial resources.
Yeah man, you got it right! It's either black or white. Yeah, that's the story!!
Either way, it's really, really bad for FlashZero!!!
Hmmm, did it occur to you that Chris Mitchell may be performing a different function in the company now? OOPS!!
Again, there is NO REQUIREMENT for FlashZero to list everyone involved in their first PR.
QUESTION: Who runs the company and controls the finances? Answer: the CEO. And who would that be? Dr. Ramiro Jordan. He calls all of the shots at FlashZero. Go Ramiro!!
Congrat's to FlashZero!!! May you have MANY EXCITING (AND PROFITABLE) DAYS AHEAD!!
OH REALLY? Maybe you know something here that we don't know?
"MEYERLANE", pure unadulturated BS.
I will make this easy for you. Instead of posting the miss-mash cut-and-paste of this post, simply provide us with any of the following to prove your point that Gary Kimmons lied to shareholders.
Just give us ONE CREDIBLE INDEPENDENT SOURCE that we can go to to confirm for ourselves the existence of an offer DIRECTLY ATTRIBUTABLE to Gary Kimmons.
ANY of the following will suffice:
1. A formal PR making such an announcement
2. An interview in which Gary Kimmons made the offer
3. A formal offering memorandum to the shareholders
4. A video made by EDWY and Kimmons where he discusses it
5. Formal presentation of such an offering on the company's website
5. ANY OTHER CREDIBLE SOURCE
"MEYERLANE", FYI, there is no requirement for EVERYONE to be mentioned in the company's first press release.
What's the problem with saving money on an office?? Virtually EVERY new startup opts for inexpensive "digs" until finances improve. I see no problem whatsoever in taking advantage of a generous offer by someone else willing to foot the bill!
After all, the idea is to become profitable, not WASTE MONEY.
"MEYERLANE", furthermore, there is NO EVIDENCE in the filings for the period in question that Gary Kimmons or his family engaged in the sale of EDWY stock.
"MEYERLANE", why don't you tell the WHOLE STORY?
Based on EDWY's filings, a CLEAR STORY emerges. Seven acquisitions of REVENUE PRODUCING COMPANIES were made during the 2005 through 2006 time period. All of the acquisitions had been in business for at least TEN YEARS.
Cumulatively they represented gross revenues of over $50 million to M Power Entertainment ( the company's name back then). ALL FACT
Auditors informed the Company during the annual audit of its newly-acquired subsidiaries that it would not be possible to place them on the balance sheet of MPE.
It seems that when the companies were acquired, each was given the option to re-acquire 51% ownership at their option. Gary Kimmons did this because he believed it was the fair thing to do.
All but ONE of the companies elected to STAY with MPE. However, it made no sense to pursue the roll-up business plan if the revenue could not be shown on the books.
So Gary Kimmons released all seven companies from their deals. ALL FACT
FlashZero Investors, another RED HERRING!
This post refers to an unsubstantiated magazine article written SEVENTEEN YEARS AGO.
It turns out that the speculation was UNFOUNDED based on subsequent events.
Also the lawsuit referred to was tossed. There was NO VALID CLAIM.
Interesting how those FACTS were left out!
NO "MEYERLANE", THAT'S NOT CORRECT. The $41M does NOT constitute spending. It is a cumulative number that, in the case of EDWY, was primarily DERIVATIVES.
Why not post the REST of the financials that tell the REAL STORY???
EDWY received $2M in funding in 2006. That''s it. There were NO OTHER SIGNIFICANT FUNDINGS until today.
Again, a TOTAL MISREPRESENTATION by selective presentation of "information."
"MEYERLANE", this is a RED HERRING.
FlashZero investors..... FlashZero, EDWY and Gary Kimmons are not a part of ANY lawsuit, NEVER have been, nor WILL THEY BE a part of one as described by this post.
In addition, Gary Kimmons has not been associated with or a part of any "scam".
Yes indeed. Things are looking up!
FLASHZERO shareholders: CAUTION..RED HERRING ALERT!! A lot of HOKEM.
This is a total fabrication. There never was a lawsuit, or any mention of one.
EDWY received $2M in funding from NIR, a New York-based hedge fund in 2006. The funding is well documented in all of the company's filings starting in 2006. The financials for those filings were audited in 2009 and presented in the oompany's 10K filing.
Ajene Watson was a business consultant hired by EDWY in 2008. He was involved in a lawsuit with an unrelated Florida company. The litigator in that lawsuit, the company's CEO, served as his own counsel. He made a reference to EDWY in the documents of the lawsuit. There is absolutely no connection between the two companies other than the fact that Watson consulted for both of them.