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As of the end of Q1 on March 31, 2021, the Company itself apparently didn't even know it had acquired a building!!!!!
The first iteration of the SPRV Q1 BALANCE SHEET, which was posted to OTC Markets on May 17, 2021, showed NO ASSETS, including the touted building!
Pointing fingers at those who actually know how to read a Balance Sheet is a JOKE! It was only after Paul Strickland, John Murphy, John Kellas, and the rest of the SCRUM OF SCAMMERS posted an AMENDED Q1 BALANCE SHEET on May 25, 2021 did it seem like maybe SPRV may have figured out it had acquired a building and related mortgage in Q1, but FORGOT to include it on the Q1 BALANCE SHEET!
SPRV IS BEING RUN BY A BUNCH OF BUFFOONS!!!!
I bought it on PACER, so the new Court document is available via Court Listener.
https://www.courtlistener.com/docket/18754499/securities-and-exchange-commission-v-berman/?order_by=desc
The finding is associated with the SEC's civil case against Berman AND DECN and is specific to the Government's appeal to limit Discovery, due to the similarities of Berman's criminal case. The Court found in favor of the Government. Discovery will be limited until the criminal case has been resolved.
It appears the referenced post says otherwise!
A $14 million valuation is pure speculation! What is NOT SPECULATION is the FACT SPRV apparently assumed the building's mortgage, which showed a balance of $11.57 million as of March 31, 2021.
Even if $14 million were an appropriate valuation, which may or may not be the case, the actual NET building value to an SPRV shareholder would appear to be approximately $2.5 million ($14mm - $11.5mm = $2.5mm).
$2.5 million is a hell of a lot less than the touted $14 million valuation!
MORE OLD NEWS!!!
REALLY???? Then I would recommend a more copious review of SPRV's Q1 Balance Sheet!
(See Page 10 of SPRV's Q1 Financial Report)
>>>PROPERTY AND EQUIPMENT, NET OF ACCUMULATED DEPRECIATION OF $908,366 = $13,191,634
Do you suppose the so-called "charts" are modeled utilizing algorithms, which account for clients of large brokerage firms being precluded from purchasing Caveat Emptor designated securities, such as DECN? I am thinking maybe not!
To quote the directions, "I would suggest some research on Depreciation."
Once again, we are presented only half the story! A fully depreciated building can also be worth ZERO!
FACT! The building on SPRV's Balance Sheet is currently valued by the Company at a net of $13.2 million, with the building being subject to the payment conditions as spelled out in a current mortgage, which shows a balance in excess of $11.57 million.
As of December 31, 2020 SPRV had no assets and $2.27 million in debt obligations. On 12/31 the outstanding share total was 13 million. As of March 31, 2021, only three months later, the outstanding share count ballooned 22X to 293 million, plus SPRV had acquired a building and $12.3 million in additional debt obligations! As of June 1, 2021 the outstanding shares had nearly doubled again, now standing at 572 million shares, which is quite a special feat!
The SPRV investors have seen a 44X increase from 13 million outstanding shares on December 31, 2021 to 572 million shares five months later on June 1, 2021. Not every company can bludgeon its shareholders with massive dilution this quickly! Murphy and Strickland have got to be proud of their handiwork!
SPRV printed and distributed 280,000,000 newly minted shares during Q1 2021. The Company's debt load rose instead of fell and there is less than $100,000 in cash on the Balance Sheet. WHERE'S THE MONEY???
560,000,000 new SPRV common shares have blown out the door in the last five months, but what does SPRV have to show for this debilitating shareholder dilution????
FACT!!! Yes, I do know how to read and interpret a Balance Sheet! SPRV itself values the building at $13,191,634. PERIOD!
If SPRV deemed the building's value to be higher, it would make the appropriate adjustment. As of December 31, 2020, SPRV showed minimal debt. Due to the supposed acquisition of 1094 Military Trail, SPRV now shows total debt obligations, including accrued interest and expenses, totaling $14,552,560.
LOL! What a joke! Acquire a building purportedly worth $14 million and take on $14 million in new debt! What's more, SPRV has dumped over 500 million new shares into the market, but shows less than $100,000 in cash on the Balance Sheet! What happened to the money????
FYI, THE 1094 MILITARY TRAIL ACQUISITION TRANSACTION SUCKS!
I did! There was no answer and no follow-up about a copy of the Merger Agreement. Wanna know why?
Because SPRV has no intention of the making its shareholders aware of the games being played with the 1094 Military Trail acquisition transaction!
Contrary to the norm for a public corporation, SPRV is hiding the acquisition particulars from the owners of the Company, i.e. the shareholders! WELCOME TO THE POND SCUM OF OTC PINKYLAND!
SO WHAT??? Bill Gates knows Warren Buffet, but it has no apparent bearing on their business operations!
FYI....if the post is referring to Summit Commercial Real Estate, I suggest doing some further DD! Summit was/is NOT a large real estate company and now it appears to be gone!
GOOD CALL! The share price is heading south! It closed at .007 despite the continous touts buying medical office buildings!
It appears the investors have seen through the FACT SPRV may have exchanged some shares for an LLC, 1094 Military Trail, LLC, which has an $11 million mortgage on a $13 million building! YAWN!!!!
PLEASE PROVIDE A COPY OF THE MERGER AGREEMENT!
BTW, according to the modified Balance Sheet, which in itself is a joke, SPRV acquired an $11,000,000 mortgage associated with a $13,000,000 building! THE END!
Why the modified Balance Sheet? Did long-time OTC scammer Paul Strickland forget SPRV acquired 1094 Military Trail, LLL, when he was preparing SPRV's quarterly financial report?
Doing some real DD, we find SPRV DID NOT ACQUIRE a building! Checking the modified Balance Sheet, SPRV acquired an $11 million mortgage on $13 million medical office building for 10,000,000 SPRV common shares and 5 million preferred Series A shares.
That's right! Contrary to the claim of SPRV owning a building, the mortgage loan provider has a lien on the building, while SPRV exchanged shares to acquire a $2 million equity stake in the property!
WHERE IS COPY OF THE 1094 MILITARY TRAIL ACQUISITION AGREEMENT? Conman Paul Strickland, SPRV's listed "Advisor", has pulled this stunt before, i.e. announce a deal, never disclose the details, then terminate the "deal" two years later! Want proof? Check-out the SPRV/Web-to-Door PR from July 12, 2018! The announced deal NEVER really happened, but the SPRV shareholders did not know it NEVER really happened until July 2020!! It seems we may be seeing an ENCORE PERFORMANCE!
THIS IS MERELY AN OPINION, WHICH FAILS TO ACKNOWLEDGE THE VALUE OF THOROUGHNESS AND A COMPLETE UNDERSTANDING OF THE REFERENCED MATERIAL!
LOL!!! So the U.S. Declaration of Independence is no longer valid?
Trying explain away a document's on-going validity by simply citing the date it was authored is utter nonsense!
Granite Group is NOT SPRV and Merola has NEVER been announced as a designated official "affiliate" of SPRV!
If Merola were to be an "affiliate", he would be listed on the SPRV OTC Markets Profile. Instead long-time OTC scammer Paul Strickland is shown as a Company Advisor on the SPRV OTC Markets Profile!
Personally, as a REAL investor, I don't give a damn about Granite or Merola, I want to know about SPRV!
Yes indeed! It was a PAID ADVERTISEMENT and there was no requirement that the write-up be truthful! The phony "news" was solely distributed to promote the sale of SPRV shares.
LOL! Thanks...I think! :) Will try to figure out how to cleverly add the your comment to my OTC "White Hat" resume'!
Let's not confuse the accounting metrics! "Revenue" is NOT "earnings", thus multiples of revenue means little to nothing to investors! Using revenue as a variable, does not yield the claimed P/E improvement!
FYI, as pointed out in an earlier post, the P/E will trend worse as more newly printed SPRV shares are dumped into market. By definition this MUST happen for the business to expand. It's called "DILUTION" and it continues to happen big-time here at SPRV!
If it is hard to find, it is not news! It is stock price pumping BS!
BIG DEAL! I suggest doing the DD and re-reading the prior annual reports! DECN ALWAYS reports $2 million in annual revenue.
WHAT'S NEW?
How special! Thinking about all the touted "eyes", who won't be able to buy DECN, because their broker won't allow buying stocks that are designated Caveat Emptor!
NOT WHEN THE CEO IS BEING PROSECUTED BY THE U.S. DEPARTMENT OF JUSTICE FOR SECURITIES FRAUD!!!
LOL!!! The operative phrase is "WHEN THAT HAPPENS", which is NEVER!
Any change in DECN's CAVEAT EMPTOR designation will NEVER CHANGE, as long as CEO Keith Berman is being prosecuted by the U.S. Department of Justice and sued by the U.S. Securities and Exchange Commission.
What is the basis for the multiple legal actions against Berman?
And the answer is "SECURITIES FRAUD", which is one the of the primary reasons OTC Markets has continued to maintain and will continue to maintain DECN's CAVEAT EMPTOR designation!
JOKING, RIGHT???
A measly 53,000 SHARES were traded for an eye-popping grand total of LESS THAN $1000. And all this touted action was accomplished via a meager 6 TRADES for the entire session!
IMO, a semi-capable fifth grader could have done a more effective job of manipulating the DECN share price!
NOT A CHANCE, GIVEN THE SEC's CIVIL LAWSUIT AGAINST BOTH DECN AND CEO KEITH BERMAN, COUPLED WITH THE DOJ's CRIMINAL ACTION, ALSO AGAINST BERMAN!
BOTH THE SEC AND THE DOJ ARE ALLEGING DOCUMENTED SECURITIES FRAUD! AS LONG AS THE SECURITIES FRAUD CHARGES ARE BEING PURSUED, THERE IS NO WAY OTC MARKETS WILL THUMB ITS NOSE AT THE FEDS BY REMOVING DECN'S CAVEAT EMPTOR DESIGNATION!
LOL! MOSTLY NOBODY! THE VOLUME AND NUMBER OF TRADES TODAY WERE PITIFUL!!!
I suggest you re-check the accuracy of this claim! I NEVER once said Berman was in jail! On the other hand it is very possible Berman will ultimately be incarcerated!
BTW, even if Berman were or were not in jail, it would have no bearing on DECN's obligation to post quarterly reports and certainly no bearing on the OTC Markets' choice to remove DECN's Caveat Emptor designation!
As long as Keith Berman remains a DECN "affiliate" or insider, the CE designation will remain!
NO IT DOES NOT!!! OTC Markets will make whatever decision, whenever it wants, based on OTC Markets believing Berman is no longer a threat to ripoff investors! IT WILL NOT HAPPEN!
Based on Berman's pumping history and the FACT he is being personally sued by the SEC and criminally prosecuted by the U.S. Department of Justice for alleged and documented SECURITIES FRAUD, there is absolutely NO CHANCE OTC Markets removes DECN's Caveat Emptor designation!
LOL! LOL! DECN CHECKS ALL THE WRONG BOXES!
BERMAN WILL BE A "PUBLIC INTEREST CONCERN" UNTIL HE IS BANNED FROM BEING AN AFFILIATED OF ANY PUBLIC CORPORATION!
AMEN!!!!
I suggest a broader swath of DD! Not just TDA, but Schwab, E*trade, and Fidelity have implemented the same trading restrictions! Sellers cannot sell, when the buyers are limited or nearly non-existent. The SEC loves it! BTW...it will get worse!
IT MAY COME AS A SHOCK, BUT NOT ONE OF THE ABOVE LARGE BROKERAGE HOUSES GIVES A DAMN ABOUT A SLUG LIKE DECN.
SHARE PRICE MANIPULATION???? BUYING UP A FEW HUNDRED SHARES AT LESS THAN .02????
LOL! LET'S GET REAL! AT A FEW PENNY'S PER SHARE TRYING TO MANIPULATE THE DECN SHARE PRICE IS NOT EVEN WORTH ANY BIG BROKER'S TIME!
NOPE! Berman was likely dumping newly printed shares on his pals to help pay for his international chat rooms obsession! The Feds identified a total of $360,000 in DECN shareholder funds that was spent on this little Berman proclivity!
GOOD CALL! Which of course leads to a NET ASSET BOOK VALUE of roughly $2 million, not the implied and highly touted $14 million!
How about we deal with the FACTS! Paul Strickland resigned his FORMER SPRV positions on August 19, 2020, but Paul Strickland was subsequently RETAINED as a PAID SPRV "ADVISOR" and has prepared every quarterly financial report for the last three quarters. Strickland has a personal connection to John Murphy, which is evidenced by their chummy joint affiliations with SPRV, HLLK, & COHO! Strickland appointed Murphy to the CEO's position and personally elected Murphy to the Board of Directors.
WHERE IS A COPY OF PAUL STRICKLAND's CURRENT MANAGEMENT AGREEMENT! WHAT ARE THE SPRV SHAREHOLDERS PAYING STRICKLAND TO "ADVISE" JOHN MURPHY, PLUS THROW TOGETHER SPRV's QUARTERLY FINANCIAL STATEMENTS????
The quarterly report preparer, long-time scammer and SPRV's paid "Advisor", Paul Strickland, blew it big-time! What Strickland did is certainly fodder for a shareholder lawsuit, if there are those interested in pursuing such a legal action!
Corporate finance is not "kids' sandbox"! The originally posted Q1 Financial Report was a FRAUDULENT portrayal of the Company's financial condition. Are there investors who acted as of result of the Strickland perpetrated misrepresentations????
BTW, in order to understand the value of the building, one must consider it's NET VALUE, not its touted GROSS VALUATION. Due to the existing mortgage on the building, the NET VALUE, per the NEWLY POSTED Q1 Balance Sheet is roughly $2 million. Given the FACT a Merger Agreement has NEVER been publicly disclosed, the SPRV shareholders can only speculate on what happened!
The view from 20,000 feet suggests the SPRV shareholders paid 10,000,000 SPRV common shares, which are currently worth less than $85,000, and 5,000,000 preferred Series A shares, which are worth some allusive nebulous number, thus finalizing the merger with 1094 Military Trail and its $2 million in equity in a single building.
The FACT that long-time OTC scammer, PAUL STRICKLAND prepared the SPRV Balance Sheet and FORGOT or INTENTIONALLY IGNORED the inclusion of the purported Q1 Balance Sheet. Of course the Q1 Balance Sheet would show the shareholders an accurate accounting of the Supurva Healthcare Group/1094 Military Trail CONSOLIDATED finances, but Lil Paulie forgot it!
Of course Strickland's BS tells investors two things...
1. Scammer Paul Strickland and his band of thieves are still involved here at SPRV.
2. SPRV, particularly Strickland, is not worried about providing accurate and timely information to the investment community. Where is a copy of the Supurva Healthcare Group/1094 Military Trail, LLC Merger Agreement? What does Strickland's personal SPRV compensation package include? Strickland's prior SPRV Management Agreement was only disclosed two years after-the-fact and the SPRV shareholders got whacked with an $800,000 INVOICE, which was in fact turned into a $1.6 million payment, bet the Strickland Compensation Expense was never reflected in any of the Company's financial statements from November 2017 thru November 2020. Yes, everyone's hero, CEO John Murphy, happily settled the Strickland bill for TWO TIMES its reported value! Paul Strickland, John Kellas, and John Murphy are SPRV's version of the Three Amigos!
BOTH OF THE ABOVE SUGGEST ITS TIME TO RUN AWAY AND RUN AWAY FAST!
APPARENTLY NOT!
The Company issued or posted several misleading statements and long-time conman Paul Strickland completely screwed up the Q1 Financial Report! Was the Strickland screw-up intentional?
NOT EXACTLY!