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It sounds like he is saying the acquisition can't happen unless the spin off happens.
Also, I don't think he bought much more time other than a few days as it says here:
"Now, with this final piece in place, we feel we can complete the S-1 filings with the new consolidated financials from our auditing firm over the next few days as previously announced"
After the bogus PRs this guy has released in the past, it wouldn't surprise me if he was being carted off to jail as we speak.
Friedman frustrates most of the shareholders so when viable PRs are released that would raise the price, people use it as a way to salvage losses and dump.... and all the people trying to get out keeps the stock from making a big run. As long as Friedman continues to show his ineptitude, the stock price never will go anywhere.
He has said a few days already and where did that get us? Still no S-1...
It's pretty funny to see all the people defending the CEO to start and change their stance. This has been a complete and utter disaster.
This came from Friedman's Shareholder letter on June 9 when MWIP was CMSI:
"Important milestones and events within the last thirty days and to be completed over the next ninety days include:
Initiation of 800 commerce Spin-off and dividend share to existing shareholders with record date to be announced in near future with filing of S-1"
This guy started talking about this over 4 months ago. I love the urgency he shows. How about making something happen?
13 days late and counting...
You can file the S-1 and still make all these "deals" with Sparkbase and Vesta AFTERWARDS... he is just making excuses and people see that. That is why this stock isn't going up. The CEO keeps pumping out garbage.
Not going to get many buyers when the CEO ignores his own deadlines.
MMJ play/gamble... didn't work out, or at least it hasn't. I believed in the sector and didn't care much about the CEO. Since I have become a bagholder, I realize how dumb I was to invest in this stock... poor decision on my part. That is part of the game though... win some and lose some.
He never had credibility...
You can't lose something you don't have... :)
You won't get much credibility spitting out PRs left and right about new agreements signed and new business, only to show $32K in your 10K and $8K in the following 10Q.
The 10Q is due November 15th, 45 days after the end of the quarter. I am not talking about that though. He can still give us an update on revenue. He has the numbers and knows what his financials are, why not tell us? The 10Q will verify it and give him some credibility.
Well, assuming these PRs are legit and the revenue IS THERE, he could get the price up by giving actual revenue numbers for the July 1 - September 30 quarter.
All we keep getting is garbage... all talk and no proof.
What I don't get is... you can have the spin off and make these transactions afterwards... you don't need to "add it in the filing." I don't buy that at all.
Is he trying to say that if he did the 800 spinoff... he wouldn't be allowed to reach agreements with sparkbase or the new agreeement today? Of course you can... it is just a joke.
If I was short, how would I be getting caught with my pants down? The Stock isn't moving... ???
Can someone explain to me how MWIP/800 commerce is going to acquire a company when they have no cash? Does this mean dilution? Is Friedman giving them shares and diluting us to pay for the acquisition?
Nothing has been announced... just "few more days" ... and the price per share reflects that as it sits at half a penny still.
You ever watch the movie National Treasure? Jon Voight
didn't want to get involved in the treasure hunt because there is always ANOTHER CLUE... and ANOTHER one. That is what this is like... This company has announced all these deals... with QUMI, 800.com, Sparkbase... how about revenue numbers?
ANOTHER few days? This is ridiculous... just say you have other deals to complete before the S-1 will be filed. Why string people along and say "end of September" ... "September 30" ... "few days" ... "few days" ... seriously...
I agree.
Is this company still in business? lol
Public companies should be updating shareholders on a regular basis... or the share price will just drop. No news isn't good...
What does the PR being on October 5th matter?
The S1 was supposed to be filed September 30... today is October 10. The delay has been longer than a few days... what is so hard to understand? lol...
Our you trying to say the "delay" started on October 5th because that is when he released the PR? The delay starts September 30th...
Did you read what you just wrote?
He says "few days" in his PR. It has been 10 days now... what is going on?
Friedman could have never made this dividend news and I would be ok... but the fact he did and there is a delay is causing the price per share to drop. Investors don't like lies and this stock will continue to drop if he doesn't get his act together.
So where is this "dividend" news? Already over a week late... but it's ok, Friedman doesn't care about the deadlines he posts...
That's the problem... if you invested back in early 2011, you purchased over .01 and are now at a pretty big loss. What if it drops to .0010 and finally news hits and the stock becomes an 8 bagger... moving to .0080? You still didn't make your money back.
What is the deal with this stock? I have been gone for a while and no PRs? The price just keeps dropping. I want to buy back in, but it seems on the cusp of hitting the .003's again.
Any idea when SSOL will finally release another PR? This silence is getting a little ridiculous.
The most recent quarter just ended... July 1, 2011 - September 30, 2011. It would be cool if Friedman released revenue numbers. Public companies usually have this info a few days after the quarter ends.
After releasing the $8 million in new business PR... this stock could drop to .0010's if the next 10Q reports less than $10K in revenue again.
Assuming on average a 2% take of the $8 mil a month, that is $160K in revenue a month. I'll even slash it in half because the PR came out in mid-september. That PR should be good enough for $80K in revenue alone... ignoring all the other bunch of PRs. So basically, if we don't see at minimum $80K in revenue... Friedman is basically full of it.
Wasn't it a "strong probability" for it to be announced prior to September 30th... and next a "strong probability" on September 30th... next on Monday, October 3rd...October 4th... This morning?
Maybe it just isn't happening?
Maybe you can e-mail Friedman, since he replies to you, and ask him when?
I hate when my chain gets yanked.
BUY BUY BUY!
We're nearing the end of the year, time for some extra tax write-offs.
lol, funny... but the chart says so...
"We felt it was necessary to delay the filing of our S-1 for a few days so that this new agreement with SparkBase could be included in the public filings for the spin-off transaction"
Looks like Friedman is off again; it has been more than a few days...
What do you mean? I'm over the line for bringing in Friedman's wife? What? She owns shares... and has an interest in the company. Did I say anything derogatory about his wife? no...
I just stated she sold some of her shares... what is wrong about that?
Also, give me a reason to state something positive and I will be positive. Right now, there is just nothing positive to say.
Sorry, I can't just watch my shares decrease in value and shrug it off with a "hehe, it will be ok."
Based on the last 10Q, he doesn't seem to be making any money... maybe that is why his wife is dumping after he releases PRs?
How many stock are up over the past 3 - 6 months that I own? I own a few, like Mcdonalds, lululemon... but the better question should be, how many stocks am I at a 70% loss? Out of the 16 stocks I own, only MWIP is down so far. Actually, I'm down 50% because I averaged down, but I'm down 70% from my original buy at .0150 back in February. The next biggest loss for me is 16%... which is a big difference you can see.
There was a PR on September 15 and October 5. That is 3 weeks, right?
The S-1 filing was supposed to happen last week and still hasn't... so I don't need to "get real."
The problem is... a PR was just released and this stock is back at it's starting point a day later. You realize if Friedman goes silent for 3 weeks again, this stock will see the .003's and hit another all time low?
Most penny stocks continue to drop without news. It isn't a good thing when news is released and the stock is back to square one in a day.
I suppose it took a few extra trading minutes, but it went back to the .004's.
Triple revenue? Instead of $8K a quarter, we can see $24K a quarter? lol
Don't be surprised if this stock is back in the .004's by the end of the day. A brief pump and end of day dump seems to be a typical pattern for this stock for small/insignificant PRs.
This isn't an MMJ stock though. :(
Lol you guys never cease to amaze me. A little PR is released and already .01 - .015 projections? Once again, this PR doesn't include and financials, sales, revenue, ect.
I'd love for you to be right, but lets get real...
Look at those massive revenue projections in that PR! Oh wait, another partnership... how about these partnerships turn into some money...
You keep saying that Friedman comes through... why is the share price almost at the all-time low and dropping?