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A funny definition of huge
A couple of million maybe is not huge despite all the promises (lies) by this company
Its not enough $$ to keep them going
Per your post, assuming they receive the proceeds they will go into the CEO's pocket, where all the money they get goes.
Assuming their unaudited financials are correct, they burn between $1-1.25 million per quarter in cash. Hence the need to keep selling stock as Reg D offerings. The most recent sale was at 3 cents/share.
They likely already have enough issues with the SEC for fraudulent filings, Sarbox violations that the news is likely real. The issue is that it is so small as to be meaningful. If you lender lawsuit is successful they will basically get all of it anyway.
As to the stock, this is one of a series of paid promotions. Mostly they seem to create trading volume for a seller. The only one with any stock that can be sold are the insiders. While I am not a lawyer, their recent 10Q (again unaudited) says that management hasn't sold. However, much of management's stock is in a trust so I suspect on a technicality the trusts can sell and they don't have to disclose it. Otherwise, it is unclear where the stock can be coming from.
And BTW, this stock, like many illiquid stocks that are promoted, tends to see small wash trades at the end of the trading session.
UBIQ is a total pump and dump
It has a multi year history, which is easily verified in their press releases and SEC filings, of producing PRs like last night that never come of anything.
Things to be aware of, all of which you can easily confirm:
- Despite promises they have never produced revenue
- They are delinquent in their SEC filings and there are no audited financials
- They are a serial capital raiser in private placements with the money going straight to the CEO and his family
- They have massively diluted shareholders
- In there last 10K, filed in April of 2015, they forged the auditors signature. The auditor resigned and they had to withdraw the 10K
-They have borrowed a lot of money and are in default on these loans. All the lenders are suing the company
-They have not been making lease payments and their landlord is threatening to kick them out
- They took an impairment charge and wrote their technology down by over 50%
There is currently one of many paid promotions taking place
I could continue, but I suspect you get the picture?
End of Day Wash Trade
Only thing holding this Pinkie piece of ____ fraud up are thin wash trades at the close.
The pump and dump isn't working.
iWebgate has no sales (effectively).
In the first calendar quarter of 2016, iWebgate had total customer sales of A$58,000 (US$42,700).
So, if Sprocket is even a small piece there is virtually no sales for UBIQ either.
Maybe this also helps explain why iWebgate's stock is down 41% in the last few months, since in resumed trading.
Why let any facts get in the way of a good pump and dump?
UBIQ Has No Clients
They have no revenues, therefore they have no clients regardless of what they put on their website.
New Price Target
UBIQ is a fraud and is worthless. Price target is $0.00/share.
No revenues
In default on loans
Being sued, which they will lose
No audited financials
Delinquent filer
Impairment charges galore
Massive dilution
This is an enrichment scheme for the CEO and his family and nothing else.
Fraud - Another paid promotion for this bankrupt piece of garbage.
insert-text-here
10Q - UBIQ is basically bankrupt
Read the most SEC filing. The vultures are circling.
10Q Shows Massive Fraud
Still no revenues
Massive dilution from private placement
Management sold 55 million shares of stock for 3 cents per share, ha ha
Lawsuits mounting
Default on debt obligations
Inability to make lease payments on office space
Inadequate financial controls
More asset impairment charges - their tech is worthless
Negative working capital
No evidence they have an outside auditor anymore
All this is is a piggybank for the CEO and his family
What does iWebgate say?
Inquiring minds want to know.
More UBIQ Fraud Proof
UBIQ used a supposed relationship with iWebgate as the basis of their last stock promotion, which allowed them to sell huge amounts of stock.
Yet, in their latest material iWebgate makes no mention of UBIQ, of course it is irrelevant, forecasts current fiscal year (end June 2016) revenue of just over $1 Million so how can UBIQ make much money from that and is still losing a lot of money.
iWebgate Investor Presentation
The questions are:
- Why does the SEC still let this trade, it is an obvious fraud?
- Why haven't the private placement investors taken legal action to protect themselves against management?
- Where are the long overdue financial filings?
- Is there even an auditor at this point, given the fraud they perpetrated last year in forging the auditor's signature?
Rest assured, until someone shuts this down there will be more paid promotions so management can see stock and screw over the legitimate shareholders.
If they file at all.
I wonder if they even have an auditor these days after the fiasco, wherein they forged the signature last year?
Have faith, in another couple of months, when they want cash, they will run another promotion based on some ginned up news.
No revenues clear scam company.
Technology has been largely written down.
They forged an auditors signature, which is securities fraud and a Sarbox violation. These are prosecutable offenses.
The minute they file let the lawsuits begin.
Where is the 8-K???
If all this recent supposed great news is material why hasn't UBIQ filed 8-Ks with the SEC? Answer they are our fodder for paid promoters to pump the stock and do exactly nothing for UBIQ
This in a word is Securities Fraud
UBIQ is a delinquent filer, has no business to speak of and clearly only exists to enrich the CEO and his family.
There will be lawsuits.
Completely meaningless
It is criminal!!
Because UBIQ is totally delinquent in its SEC filings and is using paid promoters.
Buyer beware.
Promoted Stock - Pump and Dump Nearly Done, for Now
Make no mistake, UBIQ is easily revealed to be a total fraud.
It is delinquent in its filings and there have been paid promotions - hence the Caveat Emptor designation
The only plan here is for management to promote the stock via easily debunked PRs, pay promoters to pump it, so they can dump it
iWebgate is just as much a non-entity as UBIQ. It has almost no revenues, it delisted its stock, etc.
Buyer beware.
Lawsuits are way overdue for this complete fraud.
In what jurisdiction/court were they filed and do you have a copy of the complaint?
iWebgate is a Joke
Glad to see the UBIQ pump and dump scheme touting iwebgate...
Iwebgate which has effectively no sales
iWebgate that delisted its stock
IWebgate that is likely broke based on their last published balance sheet and their cash burn rate
UBIQ the company with no revenues, highly conflicted management and a totally delinquent in their SEC filings
DOn't be fooled, UBIQ is a complete fraud.
As long as paid promoters keep pushing UBIQ, and yet another one of their made up stories, it allows the insiders to sell stock -- disgusting
Its time the SEC shut down this scam once and for all
Important Post
You are exactly right. Amazing this fraud is allowed to continue.
Fraud in my book
Everything with UBIQ is.
Buyer Beware
UBIQ is the subject of another pair promotion Link to Paid Promotion, See Disclaimer
These people are crooks.
iWebgate is a suspended company
This is more typical UBIQ fraud so the insiders can sell stock. iWebgate suspended trading and is being delisted. It is a very small money losing company.
If this is material why is there no mention of it on iWebgate's website... because it is typical BS.
The list of lies by this management is staggering.
Why don't they spend their time actually filing financial statements, instead of promotional PRs? Because they have no business
Patent Announcement is Fraud
The recent announcement about the granting of patents is typical UBIQ promotion and is a fraud.
Patent no. 8, 938, 535 was granted in January to someone totally unleaded to UBIQ US Patent Office for 8,938,535
Patent no 9,106,925 was granted on August US Patent Office for 9,106,925
Patent no. 8,929,434 was granted in January of 2015. US Patent Office for 8,929,434
Why has there been no 8-K on this "important news" filed with the SEC? Because then you go to jail.
Buyer Beware - UBIQ is Toast
OTC Markets Warning
UBIQ is a total scam
Don't be confused, this company exists for one reason and one reason only. To sell investors stock so the Chris and Connie can pocket the money. These are facts that are clearly laid out in their press releases and SEC filings.
Specifically...
Fact, they have announced the launch of their various products (WEAV, Sprocket, etc.) on multiple occasions over a period of years, yet revenues are still zero.
Fact, they committed fraud in releasing their 10K without the auditor's approval. 10K was withdrawn and reissued.
Fact, they have claimed a giant contract for their technology in Asia -- still waiting.
Fact, they have not filed a single 10Q this calendar year -- still waiting.
Fact, they channeled and unsecured loan into an affiliated company so they could pocket the cash. Then decide to "buy" that company so the whole transaction disappears.
Fact, they have severely damaged investors as the stock is down 99%.
Fact, they have massively diluted their investors as the share count has exploded to over 97 million from 3 million.
Fact, their expenses for a developmental company are insanely high. What are they spending all this money on?
Fact, they claim they have world class technology yet wrote its value down by over 50%.
Fact, they continue to handsomely reward their CEO for accomplishing nothing.
Fact, they have burned through millions of dollars of private placement cash to support the executives.
What a sad, sad story.
Paid Promotions Resume
Beware of this pump and dump company
they are paying to promote the stock, again
Promoted Stocks
All on the back of another totally bogus press release/SEC filing.
They have not filed a single quarterly filing this year. Tell's you all you need to know about this scam company.
87 posts, Only 2 trades
Still delinquent SEC filer
Still no revenues
All this company/management does is promote as the stock sinks into the abyss
This company is a fraud, beware!!
Ha ha ha
Too funny. Sprocket on iWatch, only in UBIQ's dreams.
Stock continues its slide into irrelevance.
Still a delinquent filer, where are the 10Qs for the first two quarters of the year?
Still a fraud, how about that forging the auditor's signature.
Where are all the revenues and big rollouts management promised in their earlier press releases? Opps, they were just the pump so people could dump this stock.
Fun watching though.
Blatant Securities Fraud
They never disclosed the capital raise with Typenex in the refiled 10-Ka, which should be in subsequent events, nor the other raises that they did which breach the agreement with Typenex.
If or when they file the way overdue 10-Qs for first and second quarter then both the series of capital raises and the lawsuit need to be disclosed. I'm wouldn't hold your breath.
UBIQ Commits Security Fraud
Add this to the list by these fraudsters...
In the lawsuit filed against the company for breach of the Secured Convertible Promissory Note to Typenex, and the subsequent capital raises, none of these were disclosed in the subsequent events sections of either the fraudulently filed 10-k or the amended 10-k.
UBIQ is a Fraud
No amount of reposting old news and links to their website will change the fact that this company has accomplished nothing, is a delinquent filer with the SEC, management are serial liars, etc.
There is nothing there. Avoid this garbage stock like the plague.
Still A Delinquent Filer
By now the company should have issued 10Qs for the first and second quarters of this year.
No wonder trading volume has totally collapsed.
I wonder if they have found more patsies to give them cash? They need it.
10K/A Quick Read...
A) We have been lying for years about the state of the business
B) We have used the company and all the cash raised as a personal piggybank for the Carmichael family and friends
C) We are out of cash, but maybe someone else will give us a bunch so we can keep paying it to ourselves
D) Despite years worth of pronouncements and promises, some quite grandiose, we still have no functioning business
Its all there in black and white.
10K/A Quick Read...
A) We have been lying for years about the state of the business
B) We have used the company and all the cash raised as a personal piggybank for the Carmichael family and friends
C) We are out of cash, but maybe someone else will give us a bunch so we can keep paying it to ourselves
D) Despite years worth of pronouncements and promises, some quite grandiose, we still have no functioning business
Its all there in black and white.
Is UBIQ still in business?
Promised a lot, set their own deadlines, yet bubkas (nothing).
Yet More Lies
So, still no amended 10K filed with the SEC, or the first quarter's 10Q for that matter which is seriously late.
From the 8K of July 1, 2015:
The Company expects to file such restatements and its Annual Report on Form 10-K/A for the year ended December 31, 2014 as soon as practicable though it anticipates no later than July 17, 2015.
This management is a total bunch of fraudsters.
Audit is an Audit
Obtaining an audit does not prove UBIQ isn't a scam. All an audit says is that the financial statements are an accurate portrayal of the firm's financial position. Many times audits are total BS anyway, even when done by the elite firms;. e.g. Enron, Worldcom, Tyco, FIFA, etc. Audits missed these frauds. The firm engaged by UBIQ only seems to work with microcap, Pink Sheet or delisted stocks. Not where you go if you have a real business with real prospects.
UBIQ is so obviously a fraud/scam being run to get investors to give them cash so it can go the CEO and his cronies. Despite all their glorious claims and press releases of imminent product launches, massive revenues, etc. over a period of years they have produced no revenues.