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I provided proof that the accountants had nothing negative to say about the way the company was operating, and you provide an opinion as your argument.
You also are trying to compare an employee leaving a company vs a certified public accountant that not only has financial duties to the investment community, but also a code of ethics they follow.
So the accountants are willing to hurt their 30 year reputation by being involved with a scam so they can get $10k?
http://www.fhhcpas.com/about.php
There have been opinions posted since last year that have been disproven by facts many times.
I see no one wants to dispute the accountants agreeing that nothing shady is going on with SOLI.
I'm sure all we'll get is opinion anyways, when the rest of us show facts.
The absence of current financials doesn't automatically prove CareClix is a scam.
Here are financials through June 30, 2019 please pinpoint the scam for the rest of us:
https://www.otcmarkets.com/filing/html?id=13640343&guid=-0UeUH5OPhDIPyh
Here are financials through September 30, 2019 please pinpoint the scam for the rest of us:
https://www.otcmarkets.com/filing/html?id=13760870&guid=-0UeUH5OPhDIPyh
Here is the letter from the old accountants agreeing that nothing shady/nefarious is going on with SOLI as a company nor it's financials:
https://www.otcmarkets.com/filing/html?id=13843570&guid=-0UeUH5OPhDIPyh#EX16_2_HTM
Is Farber Hass Hurley in on the scam? Is Maxis in on the scam? Is the city of San Diego in on the scam? Is New York City in on the scam?
Crazy, pointing out an opinion with no facts is considered "off-topic".
Huggy - please provide proof of your opinion.
Agreed. I think the news speaks for itself, we just don't have the eyes right now. The clowns don't make it any better, because I'm sure anyone on these boards, outside of new traders, would avoid plays they pump. I was in before they started their shenanigan's otherwise I wouldn't be here until later.
That's for sure. Good luck to us!
Hopefully from reliable sources and not the buffoon pumpers on this board.
Nothing too exciting just yet. Would want to see a break and hold above .40 for the real fun to begin.
This will move back up with ease when the time comes.
Who is buying here? Who would buy an SEC delinquent stock that has been on the greys for 6 months?
The answer is simple; those who believe and these people (myself included) aren't going to sell for peanuts, so it should be pretty thin when we're back up and trading.
Might need more than 106 volume for the day to break 04
Mr. Ahab can you check in and give us a nod or something haha.
Agreed, the accountants were involved with the company through the end of 2019, so if something shady was going on, you'd think they'd step up and say something. Can you imagine something shady is going on, not only does that bring down everyone on the management team at SOLI, but also the reputation of the accountants will be affected. Would they be willing to risk that?
I think it's safe to say there is no scam here or house of cards, but probably a bit of incompetence, lack of urgency due to the SEC deadline forgiveness, and possibly some differences in the way this new firm prepares for the last accountants.
I'm not sure if anything will ever come from GNCC, but I do agree that something seems to be going on behind the scenes with the shell and Bright Green.
I feel like you wake up each day and forget everything from the day prior.
It is very obvious this conversion to unrestricted has nothing to do with current management as those shares were issued 10+ years ago, LONG before Eric and Niraj were in the picture.
I guess I'm just not made out for a message board where "longs" have constant complaints despite a share price up 3000% YTD.
If you would prefer, management could have done an R/S to ensure those old shareholders wouldn't drag down the price. But then most of us here wouldn't be very happy either.
Also don't forget with the SEC changing the due date to file, financials might not have been a concern for the company nor the accountants until say May or June, at which point there might have been issues with the prior accountant's methodology.
I'm not trying to make excuses for the company, being this behind is not a good thing, but I don't think it's for nefarious reasons.
There have been two quarterlies posted by SOLI in 2019.
Where do you see the bait and switch going on within those financials? OR, are you claiming the scam started AFTER those financials?
You should tell that to the accountants that disclosed there were no red flags with the company nor its financials.
At the end of the day I'll trust their opinion over yours.
I'm sure cost definitely is a factor, and again if everything is on Floods shoulders that would affect turn around time. Especially in this environment. If I remember correctly flood is in CA with the office in VA so supplying responses to auditors could be a lot longer than normal.
Also, let's not forget that the SEC extended the filing period to the end of June. It is definitely possible that in order to save money they stopped working on the financials for a month or two only to pick it back up and have to redo errors.
What are your thoughts on the fact the prior accounting firm signed off agreeing that nothing shady was going on with the company nor its financials?
Once again, no one told you to hang out and keep your shares here. You've made that decision yourself. Own it.
Management hasn't pumped anything, there has been no mention of revenues or profits outside of ihub expectations so if that's why you bought then blame us, not them.
Thanks for the thorough response.
Here are the main issues against the bait and switch scam and your "there won't be financials because then the house of cards falls apart."
1) There is no house of cards to fall apart. There is no PR, 8K, emails claiming that SOLI or CareClix generated massive revenues or profits. Additionally there is no language anywhere in regards to estimated profits or revenues. So what house of cards will fall apart? Nothing imaginary has been built up to knock down.
2) The bait & switch argument also makes no sense. We have seen 2 quarterlies showing revenues and how they generate the revenues. We thought in the beginning that we'd be taking KB's clients and were wrong, which was pointed out in those 2 Qs, so how would completed financials prove a bait and switch if we've already seen half a year of financials disproving that claim?
3) Lastly and the most telling for me, is how come the auditor who resigned disclosed no red flags in regards to the business nor financials of the company? Do they not have a duty to uphold or are they in on the scam as well?
With all that above, I can't see a reason why the financials were purposely not completed. In fact, if you think covid was used as a pump, the company could have posted the annual report and Q1 without having to show growth and then pumped up COVID results. We didn't get that, because there is no pump.
Sorry CareClix Inc is the subsidiary. There is no CareClix LLC that I can find.
Some here claim it's a bait and switch scam but I think through the filings and the SEC rules we can conclude that nothing nefarious is actually going on and it can be indeed lack of accounting knowledge, an overwhelming amount of requests or some other obstacles we aren't privy to right now.
Follow me down the SEC rabbit hole...
The 8K posted on 1/13 relates to the resignation of the old accounting firm. If you look under 4.01(a)(i) through 4.01(a)(iv) there were no red flags that they needed to report.
4.01(a)(v) is the important one; it says: None of the events listed in Item 304(a)(1)(v) (A) through (D) have occurred or exist.
https://www.ecfr.gov/cgi-bin/text-idx?SID=64fcdf52ce097aee2ff0f753f99dbc6f&mc=true&node=se17.3.229_1304&rgn=div8
When reading through A through D below (link also above) keep in mind that none of these have occurred or existed. It would seem the accountants would have a duty to report any such "bait and switch" scam at this time based on the following disclosure:
(A) The accountant's having advised the registrant that the internal controls necessary for the registrant to develop reliable financial statements do not exist; HAS NOT OCCURRED OR EXISTED
(B) The accountant's having advised the registrant that information has come to the accountant's attention that has led it to no longer be able to rely on management's representations, or that has made it unwilling to be associated with the financial statements prepared by management; HAS NOT OCCURRED OR EXISTED
(C)(1) The accountant's having advised the registrant of the need to expand significantly the scope of its audit, or that information has come to the accountant's attention during the time period covered by Item 304(a)(1)(iv), that if further investigated may: HAS NOT OCCURRED OR EXISTED (you can go to the link to read further but that's the main point)
(D)(1) The accountant's having advised the registrant that information has come to the accountant's attention that it has concluded materially impacts the fairness or reliability of either (i) a previously issued audit report or the underlying financial statements, or (ii) the financial statements issued or to be issued covering the fiscal period(s) subsequent to the date of the most recent financial statements covered by an audit report (including information that, unless resolved to the accountant's satisfaction, would prevent it from rendering an unqualified audit report on those financial statements), HAS NOT OCCURRED OR EXISTED (you can go to the link to read further but that's the main point)
Additionally, in a letter from Farber Hass Hurley they agreed with the statements made in that 8K, so they had multiple chances to speak up and say something is fishy here and did not. Are they also involved in the scam, or is nothing shady actually going on?
But, the audit does not cover what goes on in those 60 countries, or even what goes on in CareClix, LLC
So, what is causing the delays?
Still growing, nothing to see here!
I'm hoping some of my other holds start moving so I can buy more KAVL. I'm very confident with this one!
You should go away until December, it seems like it'll do wonders for your emotions and mental health.
Honestly, the last month or so has been rough, and I stopped opening my etrade so I wasn't staring at red everyday. It's been really good for me and I've actually focused more on my real job haha.
Good luck to all of us, but really, take a step back.
Lol, maybe if you go away we'll see a gap up.
Dude, do you believe the company is going to be successful?
KAVL is one of the only penny stocks that I don't need to look at everyday.
It has growing revenue, it has net profit, it has positive cash flow, they filed their PMTA, they are buying patents for a new product, they may have CBD products in the future, they are expanding their distribution channels.
You seem to be very angry with the short term and ignoring the long term. If you think you need to babysit the stock then either you don't trust the numbers, or you have way too much money invested here.
Take a step back, take a few days off, turn off your emotions.
Also, let's give the company more credit. They've done right by shareholders since March, and they told me multiple times they didn't approve the 6M shares, so I will trust them and just chalk it up to a short term illiquid issue, not a long term fundamental issue.
We were just at .30, so we're almost 100% higher than that now.
I understand this is going to take time to play out, but based on my last email from the company knowing that the patents are owned by our subsidiary, and adding new products to our rolodex, adding stores to our distribution, this one is going to be a big payday someday.
Eventually we'll be able to go Nasdaq as long as the company keeps on moving forward the way they are.
Plus, these guys suck lol. Who would pay a bunch of ihub nobody's
This chart is perfect. No other words for it. Strong volume up, consolidating and churning shares from folks who have no interest holding while we wait to see what is going on.
.004 is the line in the sand for now. Once we break above that we should test 008, and beyond that we have nothing until around .02.
Nah, just a mentality thing. I would assume we're all looking for the same thing!
I believe filings will be out which is why I continue to hold my shares and I have added down here.
It might not look good if you look at just SOLI. I look at what SOLI owns and what CareClix is actually doing which is apparent via linkedin, NYC website, San Diego contract, etc.
Just got home and see we touched .70.
Damn whackers brought us back down, but wow it's nice to see us moving in the right direction!
When did I say losing 100% is the strategy? Losing 100% is the max loss scenario if you hold until 0.0000.
The strategy is finding stocks that have been beaten down (For me I prefer not diluting companies) with future catalysts. I don't risk 100% for small 20-30% gains. I risk 100% of the investment for 1000% gains. I've hit many 10+ bags, I've held 10 bags to losers, and I've sold way too soon on some. But at the end of the day, being up 23,000% in 5 years gives me the confidence to stick with the strategy.
Don't confuse "investment" with overall portfolio. SOLI is a fraction of everything I hold.
That's the problem with trying to find a bottom.
I'm glad I bought in the .30s, .40s and .50s despite expecting the price to go much lower if those 6M were going to hit the market at once.
If I just said, okay this should go to .10 because of all those shares, I would have missed this buying opportunity entirely.
Let's see where we go from here. Would be nice to stabilize near .80-1.00 and watch the next Q and all the updates the company will have for us in the short to medium term.
If we are to believe that financials will be out soon, my guess would be within the next month so that when they are filed, they will be current through and including Q3.
Would make no sense to file everything up through Q2, and then still be late with Q3 and not able to proceed forward.
The question is, who has the patience to wait? I do!! haha