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Good to see that you now recognize ITOX as a big scam
Where are the contracts? Where is the revenue?
ITOX is really “in play.” Within the last hour some “smart investor” has invested another $50.00 in ITOX.
That may bode well for future. Indicates that VLD is not yet on radar of most retail investors. A relatively undiscovered company with a promising future. Good to be in early.
Dan, I honestly think ITOX is a scam that should not go unchecked because it takes advantage of unsuspecting readers of posts on this board.
I did due diligence a couple years ago and found the claims on this board in many cases to be outrageous.
I have nothing to gain other than satisfaction in exposing ITOX as a scam.
Yep, one billion shares authorized which means there will most likely be continued dilution with the value of your shares thus being reduced by 300%
I really can’t wait until 2099 to see if ITOX can possibly become a viable company, so I’ll pass.
It’s a shame because I imagine the price for $1.00 calls on ITOX would be something like $0.000000001 per share
A $1.00 investment would thus give you an option on all one billion shares.
That’s about what ITOX is realistically worth - next to nothing.
That is not considered “DD.”
It’s called hope or fantasy.
Great! ITOX value would only have to increase by 40,000 % to reach that value.
Maybe we should all buy some long term options - like 2099 $1.00 calls
Why are there virtually no posts about Velo3d on this board? Do those interested in VLD use another site?
ITOX has one billion authorized shares. Apparently about 250 million have been issued to date. That leaves about 750,000,000 shares that can be issued and sold.
If Cliff (and his buddies on this board) can somehow maintain a price of $0.01 per share, that amounts to about $7,500,000 that can be siphoned off for the benefit of Cliff, Karen and other recipients of stock grants or options.
It seems like it will be well worth the effort for Cliff to continue to issue NDA and other fluff PR for ITOX while he resides on Cape Cod and operates his privately held consulting practice.
Thank you for posting the correct date for the World Congress. Vitty had posted that May 10 was the start date. Guess I should have checked but I had no reason to suspect Vitty would post incorrect info and I had no real interest in the Congress.
So, bottom line is ITOX was not able to find any use for the technology, terminated the license and still owes MIT around $75,000 for unpaid fees.
Thus, ITOX, unlike Tulip, does not currently possess rights to any MIT technology.
Earlier this month there were several posts on this board, including yours, about the IIOT World Congress to be held in Barcelona.
The Congress is over and I have yet to see any developments or news for ITOX emanating from that event.
Just another example of unsubstantiated hype or fluff from ITOX and some of its promoters.
ITOX licensed some MIT technology in 2017. Almost 5 years have elapsed and there is no sign ITOX has been able to capitalize on that technology. For that matter, is the license still in effect?
Correction: Cliff’s consulting firm is called ACC Healthcare Innovations.
ITOX is NOT viewed as a competitor to Tulip.
Tulip has over 200 employees. ITOX had one full time employee as of last SEC filing (Cliff states they have hired one more since then.)
Tulip has substantial revenue. ITOX has none.
There are several companies listed online as being in the same industry and as competitors to Tulip. ITOX is not one of those.
Cliff apparently devotes his time and effort to his privately held consulting firm, ACC Medical Innovations and uses sales of ITOX stock (diluting shareholders) as supplemental income.
Four trades now totaling about $400. Despite some claims on this board, ITOX clearly does not attract “smart money.”
It seems like it is primarily for friends of Cliff who want to promote the pps.
Two trades so far today. One for $50, the other for $5. ITOX is a sham.
Hard to have profit margin when you have no revenue. 18% of 0 = 0
Where does Cliff’s interest lie - ACC Healthcare Innovations (his privately held consulting practice operated out of his home in Cape Cod) or ITOX (the public company with just 2 employees)?
I’ll bet ACC Healthcare Innovations is more successful than ITOX.
Cliff operates his private consulting service, ACC Healthcare Solutions, out of his home in Dennis, MA on Cape Cod.
Does Cliff direct most of his time and effort, and utilize whatever former business contacts he may have, to further his private business?
Does Cliff view the sale of ITOX shares as simply a supplemental source of personal income?
Results to date would indicate that whatever business success Cliff has had in the last 4 years has not accrued to ITOX.
Maybe he finds ACC more worthy of his attention.
Why hasn’t ITOX received any business and produced any revenue? Just because you hang out a shingle does not mean you’ll succeed like others may in your chosen field.
What’s so great about the share structure when 1,000,000,000 (one billion) shares are authorized? A lot of room for future dilution, particularly for a company with no revenue.
That is an absurd claim. No foundation.
You describe Cliff as a very experienced CEO. Other than ITOX, where he is yet to demonstrate any success, what prior experience does he have as a CEO?
I know he was a VP at Medtronic. That is not an exclusive class. There have been many hold that title.
Cliff has yet to convert one of his NDA to an actual contract. For some time now, the info from Cliff and the company has amounted to nothing but fluff. A business cannot survive on fluff alone.
Other than a bunch of NDA which don’t mean anything unless and until converted into actual revenue producing contracts, what are the recent developments for this company that has generated only $11,000 of revenue in the last couple years? Their current liabilities are 6 times their current assets and they have not been able to pay their obligations.
What is good other than a bunch of meaningless PR and posts on this board that are intended to create a positive vibe and hopefully increase the pps.
You are so right. It’s an interesting scorecard:
Cliff’s NDA - many
Cliff’s actual contracts - none
ITOX revenue - zero
And, isn’t it interesting - and instructive -
that we never see other companies issuing PR that they have entered into a NDA with ITOX
That’s old news and IT IS NOT A CONTRACT. It is a NDA. Learn the difference.
Should read “…1Q of 2022…
I acknowledge the debt forgiveness agreements entered into in 2020. That was 2 years ago.
You should read the financial statements for the 1Q of 2922 which were filed on May 16, 2022. That balance sheet reflects a couple hundred thousand dollars in “back pay.”
You can’t whitewash that. ITOX has a continuing problem of not being able to meet their financial obligations and pay their bills. Current liabilities are 8 times greater than current assets. Even putting employees’ salaries aside, default and bankruptcy could follow if they can’t find funds to offset their accounts payable.
The financials are pathetic.
No revenue for 1Q of 2022
A meager $11,000 in total revenue for all of 2021.
And 3-31-22 balance sheet shows current liabilities are 8 times current assets. The
company doesn’t have enough assets to offset their accounts payable and employees’ back pay.
When you can’t meet your obligations, default and bankruptcy loom.
Total of $2,800 in ITOX trades today. Not much interest in the company, and certainly no meaningful accumulation.
The financials in a 10-Q are facts. Management’s comments are not facts. They are fluff and hope and conjecture.
And for the record, I am not interested in holding the price down. I would not invest in ITOX if it was $0.05 a share. I think it is a sham that should be exposed for the unsuspecting.
Where is the revenue from the bridge monitoring contract?
Cliff (or his speech writer) claims in the 10-Q that he expects revenues in Q2 to exceed total revenues for 2021. What were the total revenues for 2021? Weren’t they about $10,000 total? What a lofty goal Cliff has set !
Well, the 10-Q for the first quarter is out.
No revenue - absolutely none. Zero.
Current liabilities of $1,653,000.
Current assets of $208,000.
Looks like next step will be default.
And then bankruptcy.
ITOX has no viable business !
I have never seen so much hype and so many unsubstantiated claims about a company that has one full time employee and has never produced any meaningful revenue.
That contract to monitor 3 bridges is several years old and was extended because the work had not been completed or produced conclusive results. It has not led to any new business.
And no Fortune 500 company, or any company for that matter, has seen fit to actually enter into a contract with ITOX for any new business. ITOX has no business!
There is nothing to support even a $2.5 M market cap - no revenue, no product, one full time employee.
There are no assets and there us no revenue.
It is literally worthless at this point.