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Hey, give the guy a break, he's pushing 90 years old so he probably just forgot to tell us about the loan! Just like he "forgot" to tell us he really DIDN'T CLOSE the acquisition even though he said they did back in JULY. I mean he only took 3 1/2 months to file the 10K & stuff happens. If that's not criminal, nothing is.
On a serious note, how tough would it have been to add ONE SENTENCE stating "the loan omitted is intended to complete the MCV acquisition"? Instead we are left to "assume" the loan is for MCV...
No, I don't think it really matters. Someone else on this board has posted many times that since CA raised the cigarette tax by $2 a pack we would benefit in a big way. (lol!) Apparently they didn't read the details...
And yes, the bill already passed over a month ago on election day.
Did anyone actually think "The People's Republic of California" would raise taxes on cigarettes without doing the same to e-cigs, vapes, juice, etc.?
Prop 56 added about a 70% tax to vapor related products. It is said that it will be cheaper for vapers to go back to smoking and that thousands of shops will close & the new tax will likely kill the entire Vape industry in CA...
Can we make it a diamond mine? I've held GLD shares for years and I'm still down 25%...
I expected criticism & maybe debate from my post, guess I should have expected a personal attack too (applies more to MasterB8er) but:
I found no explanation or "excuse" in the report for how they issued a PR in July stating they "completed the acquisition" and are now only saying that they expect to close within 6 months. Maybe this does not concern you? Did I miss something?
The July PR:
VILLA PARK, CA / ACCESSWIRE / July 21, 2016 / Service Team, Inc. (OTC Pink: SVTE, "Service Team") is pleased to announce the filing of its quarterly report for the period ending May 31, 2016.
The Company achieved record sales of $947,796 for the quarter ending 5-31-2016 compared with $664,454 for the same quarter last year. We look forward to continued growth throughout the year.
Robert Cashman, President of Service Team stated: "I am pleased to announce that we have completed the acquisition of MCV Companies, Inc. ("MCV"). MCV will become a wholly owned subsidiary of Service Team, Inc. The acquisition was funded with a combination of cash and stock. This is the first of several acquisitions that Service Team, Inc. is currently negotiating."
Service Team will report combined revenues of approximately $5,000,000 in its financial statements for its fiscal year ended 8-31-2016, compared to gross revenues of $2,611,766 for its fiscal year ended 8.31.2015.
Virgil Enriquez, Secretary of MCV stated: "MCV Companies Inc., is a full service landscape contractor. We offer conceptual drawings and complete construction services. MCV is committed to taking the client's vision and making their dream become a reality. As a premier landscape contractor in San Diego County we surround our customers with the most knowledgeable professionals. Our team has over 25 years of experience in the industry. MCV creates individuality in each of their client's custom outside living spaces. Throughout construction we maintain constant communication with all partners involved. Customer service and constructing it right the first time is always our top priority."
From the 10K:
Service Team, Inc. has paid $40,000 in cash as of August 31, 2016 towards the acquisition of MCV Companies, Inc., which has not yet been completed.
Therefore, as of August 31, 2016, the amount is included within other currents assets as the Company expects that the closing will occur within six months.
**
Revenue:
FY 2016 (From actual filings)
Q1 11/30/2015 $925,103
Q2 2/29/2016 $781,390
Q3 5/31/2016 $940,796 (figure differs slightly from the PR)
Q4 8/31/2016 $383,445
TOTAL: $3,030,734 Q3 to Q4 DECREASE = 59.2% (sorry, I said 60%)
FY 2015 Q4, $781,291 2015 Q4 to 2016 Q4 DECREASE = 50.9%
How'd I do?
BTW, "I do" also own millions of shares...
At the risk of shooting myself in the foot...
Why no real details regarding MCV? In May they announced an agreement with an expected close in 30 days.
In July, about 60 days later they PR'ed that they "completed" the acquisition, not "almost completed", or "should complete", or "about to complete", but COMPLETED.
So now 5 MONTHS LATER, he tells us they made a "down payment" and should complete the deal within SIX MONTHS. WTF happened? Am I the only one who cares?
I'd also like to hear an excuse why Q4 sales were down about 60% from Q3 & down 50% from Q4 2015 but whatever...
Technically, the 10k is DUE by 5:00PM EST on Wed, 12/14.
Excellent plan, if it doesn't work out, they can always drive Bob's trucks...
SS83, yes, the UK Amazon site I saw had the price within about 1 Pound of VIP. The $52 'ish dollar price was found on a couple US sites.
I was never a smoker/vaper. I occasionally smoke cigars. I've purchased a few FIN AVS's & many flavors in the past (to help the cause) and I tried to get addicted but it just didn't work for me!
We need higher revs and to make money but my concern (one of them) remains can our existing products survive and could the company survive primarily as a "juice company"? (Not saying that's the plan)
For now I'll hope it's an "addition" and not a "replacement" to sales.
I'm all for making money, but...
We don't make or "own" this product, right? It appears every vape store, website, etc on the planet, (including Amazon UK) sell the Smok Alien. I also found it for around $52 which is much cheaper than the VIP price.
So, how many did we sell and what is the margin? Also, if this device and others like it are "flying off the shelves", what does this say about our proprietary products?
Actually I was referring to the $5 million in revs but as you stated, we really know nothing regarding the acquisition "details". I'm in a crabby mood today since yesterday was the second time I watched major (paper) profits go poof. My bad.
And yes, the K or the NT was DUE Yesterday. Nobody makes a big deal however if one or the other is a couple days late.
Probably because Fox News was reporting non-stop that she "already ordered fireworks for her victory" and how arrogant it looked.
then, why were the Clinton fire works cancelled on monday the 7th?
Someone around her had the brains to cancel them to contain the damage.
I know all we have is speculation now but the fact remains that not a single state was called when the 15 hit at 4:37PM EST. If conspiracy theories take hold I'm really gonna have some fun!
Good luck to us all!
Which one of the 4 things in your post do we NOT "know"?
You beat me to it. The "15" was filed 2.5 hours before ANY polls were closed so not a SINGLE state was called. Like you implied, Clinton was still planning her victory party at this point.
I thought Roche already has control & wouldn't a tender offer totally suck at this point?
Excellent analogy to "LOST"!
The "timing" of the recent actions (and those coming) make sense, it's the "actions" that remain a mystery, for now.
Roche made the $90k "investments" for 9 months like clockwork. We knew "something" had to happen in October, just nobody expected going dark. And, why throw another $200k in with a very short term, unless to accumulate even more shares? Also, like I posted yesterday, Pacchini seems to make bank with RVUE shares. Is there any significance to what looks like a precise 1 year plan? ($90k Jan-Sep & now a bridge thru Dec)
I hope I'm not implying I know the end result. The only thing I'm confident of is either looking like a visionary for getting & staying invested here for a big payday or looking like a big dope for risking more than I should have in a company losing money that went dark!
Another thought process to consider:
Pacchini has basically been working for minimum wage when you consider his background. His latest employment contract was written August 2015. He only gets "paid" if RVUE achieves revenues substantially higher than what they are now, OR, if there is a "sale of the company / change of control".
There appears to be a "bigger bonus" in the form of stock and/or stock options, lot's of 'em. The exercise of the options appears to be .04 cents.
Would Pacchini be hanging around for worthless RVUE stock? The contract has some conditions related to the "sale of assets" too but unfortunately I don't fully understand it?
My brain hurts. The first sentence in the default clause is a mile long. I keep reading it trying to see if there is some kind of circular logic or something I'm missing but I think it's just over my head?
I also keep going back & forth between "wow, never thought of that one" & "duh, that should have been more obvious". I've even contemplated could RVUE be ready to announce a "positive event" that satisfies the $200k or "right after" Roche gets his 2.5 more shares?
I "can't see" how liquidating assets would benefit Roche? I'm assuming that even if RVUE has something worth "much more" than what's on the balance sheet, it's not like he could sell it for more than the debt due & then pocket the extra, right?
I think he wants more shares and he would only want more shares if he thinks he can make more money with them which would mean we would too.
Looking forward to whatever the answer is!
I realize anything is possible in the OTC, including BK, but if it went that way wouldn't Roche still need to explain it to a judge and get approval?
Yes your honor, I am the majority shareholder of RVUE and basically control the company & make the rules. I have been a director for years and have provided millions of dollars of my own money to the company. I am intimately familiar with what the company does and their technology, and also own related businesses.
However, even though I just lent myself a relatively small amount of money compared to what I already invested here (like 2-3 months ago), & I'm nearly a billionaire, I have concluded I can't pay myself back the money I lent to me, or whatever. OK?
IMO, you're not thinking this through. There is no "working app" so he never spoke to any bankers. How do you get an appointment?
Hi, I've been working on a stupid savings app based on the Martingale gambling system. I started this idea a couple years ago but nobody wants to fund me. I don't have a working product yet but I can show you some screen shots of a beta thingy. When can I come talk to you and try to sell you my concept?
Quote:
Wonder what the banks have said to a poorly made app?
Yup, kind of my point. It's complicated and maybe at one time he "thought" it was due in 71 days but that date has passed & he is now allegedly saying December'ish.
Agree, I'd say it's possible "he" didn't understand the 71 day thing when he told you about it? It may not even apply?
Moving "k" dates & things like "the notes are almost done" & "the notes are done, except the $38k note that was just converted and that part is done but the absorption isn't done", ain't helping.
I do know I'm holding 3.8 at .0024 avg. (ironic?) & did not sell any. Feeling a bit stupid that I didn't take some profit.
RELEASE THE K!
There actually is "something" to the "71 day stuff", it's just that it's confusing. (At least to me) Like other SEC rules, there are many heretofore's, ifs, ands, exceptions, etc. There is also a clause that refers to rule 3-05 acquisitions blaa, blaa, blaa. Add to that, the rules change if the acquired company is 20%, or 40%, or 50% of something else.
I feel I'm making things worse? Anyway, the stuff below is one of many things I found regarding filing requirements related to acquisitions. This was under "8k acquisition requirements".
The financial statements of an acquired business (Item 9.01) must be filed no later than 71 calendar days after the date that the initial report on Form 8-K must be filed (four business days plus 71 calendar days).
Thanks for the reply. I'm too lazy to go look, but I thought "this qtr", as in Q3, was the one where we'd be fully funded? Dan also seemed to imply that working capital will always be an issue?
I'm pleased about the ebitda but some of those "letters" equate to big amounts. My "going concern" remains they may never overcome over- paying for our brands and Big T will ultimately grind us down. I'll continue to hang on for now but with less optimism. Cheers...
I'm curious if what you heard yesterday matches anything you were expecting based on your recent correspondence with management? Obviously the revenue wasn't.
my target price has got to be somewhere closer to 50 cents and above. This Monday is gonna be huge. Fingers crossed for 14 million and above. Then hopefully he sets the expectation of 16 million or more for Q4.
The Q "was" released Friday, it's on the OTC markets website. It doesn't show what time so I assume after hours?
Donald Trump is 70, Bernie Sanders is 75. Think about the hours the President puts in & the stress. Ginsberg (supreme court) is 83 & has more than 1 cancer. She has the body of a 125 year old but thinks she's just fine. Scalia (supreme court) was 79. He had so many health problems & knew he was walking death, yet the prick wouldn't retire.
Many rich/powerful people never "think they are too old" to stop. I don't know dick about Dick but I wouldn't count on it.
Damn, thanks for making me bum myself out...
I hope the product is ready before Facebook, Twitter, LinkedIn, etc. are all obsolete...
I guess a "1 sentence" update, with a grammar error, is better than nothing, but not by much!
Let's hope the "next update" actually says something or they at least get back to "current"...
I believe we'll know the plan sooner than some may think. Roche was providing $90k per month "working capital" under the .013 plan. The last purchase/cash infusion under this deal was September 8th.
We just heard about the "bridge loan" effective October 11th which netted $195k, or, 2 more months of "required working capital".
This puts the next "something" at mid December. Why do a 2 month bridge loan unless you're confident that's all that's needed? I predict the plan comes together by calendar year end.
IMO, they probably were right on the line of legal vs. not. Way too technical for me. As far as complaints, I only know of filing with FINRA but my gut tells my when FINRA sees a complaint for an OTC company, it goes straight to the "round file"...
I can't blame you for trying to remain positive, but I'm afraid this is indeed what they had in mind. They likely did the bare minimum to remain "legal". They gave us a "technology company", unfortunately it's a useless company with no viable products, patents, monetary ideas. But they can "say" the opposite.
Quote:
Then again I can't imagine this app to be the deal of the year. There's gotta be something in the works that they just can't reveal yet.
Obviously the app isn't what they said it was, but as far as their opinion, remember when Manny said "we are putting a deal together with a company that can revolutionize the banking industry"? (Something close to that anyway) Remember the excitement here & speculation as to who the IPO might be with? The app will NEVER materialize but this is indeed what Manny referred to.
The only we move up now is with some bogus, bs, hype about merging with or acquiring some other pretend company.
I saw his reply to you on Twitter. "We" have never been on kickstarter. Yeah, smooth answer. EEGI or Cranium hasn't, but Romario and his dopey app were. It raised ZERO dollars.
If anyone needed more data to know this is a complete fraud, adding a "donate" option on the corporate home page should lock it up. Is it even legal? What might the "prize" or "reward" be for donating to a FREE app? What will it cost shareholders?
Instead of kickstarter he should list "Accrue" on a site called "non-starter", because that's what it is!
What's next, a tweet that his "uncle" has won the Nigerian Lottery & he just needs a few grand to get it out of the country?
As I predicted, we heard "something of magnitude" before the Q. To be honest, this isn't what I thought, unless it is "step 1"! I also added today & am willing to wait so hopefully I'll end up as one of the visionaries...
ChuckBits Member Level Wednesday, 09/21/16 12:32:22 PM
Re: koen2 post# 5779
Post #
5810
of 6845 Go
Yes, IMO with the financing deal complete, "something" of magnitude must be announced between "today" & at the latest the Q (mid-November).
Hey, all we simply need is 8 more days of a 39% gain with no pull-backs and we break a dollar! Is that too much to ask?
Actually, other than being "an app" that transfers money from a checking account, they have absolutely nothing in common.
I've added about another 1.5 million, hope I don't regret it!
The stupid app is a non-starter. I cannot imagine a single bank in the United States that would want to be associated with it.
Aside from the scrutiny banks must be under right now, can you picture a bank telling a customer: "we have an app that helps you save by starting with change and then compounding it daily by using an exponential numeric value"?
The only way out of this mess is with a new pump of bs about some other nonexistent product, person, company, etc.
Actually, if your avg is about .0013 (like mine), & the pps being .0002, I'm down by "11 runs". So it would take back to back to back grand slams! Yeah, that happens all the time...