FAKE NEWS!!!

EXACTLY 100% correct!!! MUST READ...STICKY..PLEASE

VIZC is clearly going to run....Too much interest here. Nobody would be posting here if there was no interest, and look at the volume over the past month. Somebody knows.....

Get the Free Lifesaver app if...you..want..to block..phone..use.while.driving.

ONCI currently owns around 50%..of..Cogosense...nobody..wants..the app though...It is WAY too expensive.

Check the competition by searching google. “Best distracted driving apps”

Ummm no...ONCI is a SCAM...Everyone knows!!

ONCI ripping off investors!!!! Just look at the growing Accounts Receivable number Q over Q for proof. A/R increases by the amount of gross margin each quarter for the past nine quarters!!! This is absurd as A/R needs to be paid regularly. They can give buyers good terms like pay us in 60 days, but not “pay us someday in a few years” which seems to be the case here.

Any investment in ONCI will be worthless at some point in the next months.

The CEO will walk away with all the assets.

Sounds like...”hopefully huge announcement coming in the next few days have a verbal waiting for a written confirmation asap this will be a game changer I will report asap everyone will be very happy”

That was your CEO from one month ago......

Not if the Sales Contracts are FAKE. Plus the fact that the A/R only goes up is BAD NEWS and a RED FLAG>

That is not correct. The company SOLD SHARES to make cash...The rest is in the form of IOUs,

Problem is that is all smoke and mirrors. No actual payments are coming in. It is all Accounts Receivable.

Helping????..Selling shares at 8% of the market price???

Canouse gets 141 Million shares at $0.000048 and you call that good for the company???

Do some research!!!

Steve does what is good for himself and his friends.

First, you have to pay $175 for the hardware!! Tons of other players in the space now as well.

Who did the city of San Antonio choose? Remember that Steve said they chose the competition. Why did they do that?

Lots of app companies out there that can do it without hardware.

Insurance companies are a JOKE. I tried with Progressive to get a safe driver discount and drove like a Grandmother for a month with their device hooked up to my car. They said that I hit the brakes hard one time in the month and did not qualify. They did not care that I avoided an accident by braking for a driver that failed to yield my right of way.

The fact is that they do not want to save you money.

He will probably just lose the contracts when they come for him.

I hope it is on Consignment...otherwise it is FRAUD.

I said that they are likely MADE UP NUMBERS.

2.1 BILLION SHARES DILUTION in 18 MONTHS!!!

WRONG..THEY ARE SELLING SHARES!!! 300Million..Shares..DILUTION!!!!!

Who said they are accurate??..I..would..have..to see sales orders and then check to see that the deals really exist.

It is VERY suspicious that the A/R goes up by almost the exact amount of the Gross margin every quarter. Normally the A/R should be at least 75% paid by the end of each quarter otherwise it is considered a RED FLAG. In ONCI's case it is 0% paid. So you see the problem.

Both are used to determine the Gross Margin and both must be paid immediately. That is why they are immediately subtracted from Revenue.

They may have faked sales orders which would explain why the A/R never gets paid.

I think that it is more likely that they are shipping to dealerships on a consignment basis, and then counting that as Revenue under A/R. This should be disclosed then as it would make clear to investors that they did not sell $1.4.million worth of devices....They put that amount in dealerships and hope to sell it.

The deceit is in claiming it as sales when they have not been sold, or paid for. It looks like the devices are not selling either. Judging from Google Play reviews, and Apple store there have been only 9 total reviews for a product that has supposedly sold 100K units...NOT POSSIBLE

WRONG....Receivables have grown $751K per Q..over past..9..Quarters...Troubling is that the number is not going down at all which would show payments being made.

accumulated Total A/R over past 9 quarters below.

203,750
684,217
1,485,572
2,236,977
3,126,642
3,674,148
4,851,862
5,891,616
6,760,831

Amount added to A/R over each of the past 9 Quarters below.

A/R change

203,750
480,467
801,355
751,405
889,665
547,506
1,177,714
1,039,754
869,215

Commissions are deducted from Revenue to give you the gross margin.

Commissions are paid on a monthly basis otherwise you lose your salespeople very fast!!!!

That is correct...This is why Revenue..was $1.4 million...A/R..$6.5..million.

From the $1.4 million they must pay sales commissions of $635k leaving $851K left. A/R was $869K for Q2.

So you are saying...they..did..not pay commissions...LMAO They are in big trouble if that is the case!!!!

What is an Account Receivable?
Accounts receivable represents revenue that has been both earned and billed but not yet received.

There is no business...NOBODY wants..a $300 app, or $200 app, or $100 app, or $50 app, or $20 app.......

NOBODY IS BUYING THE APP!!!

INCORRECT. Have to subtract cost of sales/commissions from..revenue..first.

No payment reflected on A/R.

What is an Account Receivable?
Accounts receivable represents revenue that has been both earned and billed but not yet received. Say you did a $100 job and immediately added $100 to accrued revenue. Now you do your billing and actually send the customer an invoice. Once the customer is billed, the $100 becomes an account receivable. On the balance sheet, $100 shifts from accrued revenue to accounts receivable, another current asset. You still don't have cash in hand, but you're farther along toward getting it. Once the customer pays, you'd shift $100 from accounts receivable to your cash balance.

https://smallbusiness.chron.com/difference-between-accrued-revenue-accounts-receivable-65518.html

A/R is both an asset and revenue. Read the balance sheet and income statement. You can see it quite plainly. Without so much A/R
You would see cash.

A/R counts as current revenue. So you are... wrong

You are..WRONG....A/R would go down...if.it.was paid...NO PAYMENTS were received.

Accounts Receivable matches the Revenue almost exactly. This means that ONCI is owed the entire amount of not only Q2 revenues, but also still Q1, and the previous 7 Quarters as well.

No payments are coming in to reduce the Accounts Receivable.

If there was product shipping payment would be required within 30, 60 or 90 days. ONCI has not been paid on Accounts receivable in over 800 days.

SMELLS LIKE A SCAM.

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.

Not Audited or Steve would be in JAIL...FACT

Nobody believes his BS...anymore...SCAM CITY....No..Deals, NO revenue....made up scam!!!!

MORE BS coming soon.....NOBODY believes the CEO anymore.....PROVEN BS...Artist