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Good to know. Thanks for the info. :) I think if they receive enough complaints about this stock they will take a second look.
I think all those that say the SEC won't do anything are the ones that don't want this being reported or shut down in the fear of losing 100% of their investment. While it's still listed, they have a CHANCE of selling it and atleast getting a fraction of their investment back.
Hmm...didn't realize there was an option to hide ibox which was set for me for some odd reason. I thought that disappeared on me.
what's the volume for today?
ihub shows 0, so does google finance. Yet Yahoo finance shows 2.7 million.
Dead.
Even if Steve does come out with something positive at this point, it will take a VERY LONG TIME for investors to gain trust back in this company and in Steve Aronstein.
There's a simple question any new investor is going to ask - you screwed over old share holders through deception and lies, what's there to say you won't do the same to us?
If this is ever going to show signs of life, Steve will have to come out with positive news, present to us a board of directors for the company. Tell us what is going on rather than what he's hoping for. Then may be after a few years, this will start breathing again. As for now, this is dead. Without a board of directors, if Steve gets run over by a car tomorrow, there's no one to keep this company going. Everything depends on him at this point.
Tufan's post in the sticky also suggests that he's misleading callers. I'm surprised it's still a sticky. :)
SMAS status revoked was a glitch in the paperwork on May 6th. It'll be August 6th next week. Most businesses I know of fix glitches right away..they don't sit there pending for months on.
Closing on financing might be done in a month? It's been almost 3 months.
Could you tell anything from his tone of voice?
Sorry..it's just frustrating not knowing what's going on for so long and all you have as an investor are speculations.
I didn't realize that a lot of things have been removed from the board including share structure, which remains with OS of 14,968,578,256 as of today. I know he can't dump as long as he's got admin hold, but I thought I should check anyway incase Steve's got something else up his sleeve.
I think MMs may be able to buy at that and resell to specific investors privately. It was an example of what could occur, again, I wouldnt' know the details unless I sat with Steve.
As for buying things with shares, obviously you coudln't at restaurants, but you could probably tell someone you personally know and do business with (e.g. landlord who also happens to be a friend) that you could pay them with such an arrangement.
Again...my example was nothing more than an example. All we really know is that 5 billion additional shares were sold to someone and the money from it certainly wasn't used towards updating the status of the company with Nevada secretary of state, and it's been a few months since, and we have not seen any news or any info on where that money was used.
unless there's something in this military contract for SMAS.
Yes somebody is definitely buying, however they may be buying for a fraction of 0.0001. I have a feeling it's some creditors or he's making payments to through shares. I'm not sure of what exactly is happening but there are several ways of going about it.
For example say he rents office space from someone at $x. Rather than paying that individual or company in cash, he will provide them with shares worth the rent value at say 0.00002 and ensures them that they will be able to cash out at atleast0.00005 within 1 year. He puts out PRs that lead people to believe something is happening and it drives the price up and all of a sudden the guy he sold shares to for rent is now able to sell at 0.00005.
It's a win-win situation..the guy who Steve rents from essentially earned an additional 20% on top of $x that Steve was to pay by waiting it out up to one year and Steve got his rent for free and some new investors (such as you and I) just got taken for their money when they figured it's a good time to buy because they were seeing really high volumes and news being released and Steve being very optimistic.
Again..this is just an example..anything could be happening.
According to some of the people here who think no legal action can be taken against him, there's absolutely nothing stopping anyone from doing that. You open a company, pay the required fees for registration, take it public...I'm guessing that doesnt' take more than 20-30k of your own money and you release 1 billion shares to the market every year at 0.0001 and you have 100k/yr income
As for using that money towards business expense, that's easy enough to do. There are millions of small business owners that mix up their personal and business expenses. E.g. you go out for dinner and expense it as a business meeting. You get mall gift certificates for your employees, aquaintences, customers or partners for Christmas gifts upto the allotted amount and you keep them to yourself instead.
actually that amount is closer to 15 billion x .00005. But regardless, that money is probably used for other things....such as rent on the multiple offices he opened that cost 10k/month in 2007, which is far less than what it costs now since he got more office space since then.
Fixing the issue costs money. Where does Steve get that kind of money without diluting further?
gucci, you've been here a while..and you've been in contact with him for some time now. Do you recall when was the first time he said that there's so many good things coming?
FlaFlyersFan, the Safe Harbour Act only protects him from forward looking statements, not statements on what has been done.
Some things he said that have been done -
hiring of an auditor
audit being 70% complete
what about the financials that were released showing 220% year over year increase in revenues and 255% increase in gross profits that were supposed to be audited? In those financial statements, Steve also signed off that office space was costing him 10,000 per month and an issuance of 3 billion shares with a market value of nearly $204,000 meaning each share was sold at 0.00006. That's pretty influential information.
The third page of the financial statement for 2007 Q2 states with his signature
I, Steven Aronstein, Chief Executive Officer of Somatic Systems, Inc., hereby certify that the consolidated interim financial statements filed herewith and the attached notes, fairly present, in all material respects, the financial position, results of operations and cash flows as of and for the period ending March 31, 2007, in conformity with generally
accepted accounting principles in the United States of America for financial statements, consistently applied.
Dated this 28th day of August, 2007
I'd say there's a lot of information out there for court's review.
24 hour option is cheaper and even the cheapest option I would imagine takes no more than a week.
So he's unwilling to part with $5500. Or he'll make shareholders pay for it.
Looks promising...
Forget Tricare, I can't even get a hold of their own practitioners whose phone numbers are on the SMAS website. I just wanted to get in touch to see how many patients they get per month and how many of those are repeat cases to suggest the effectiveness of the procedures.
Unfortunately no answers and no return calls. Either they're really busy or they don't practice.
finally someone says it.
I wasn't asking what you're out here to make...nor is it any of my business.
All I was asking was the reason for your optimism about this company or the CEO or the reason behind you telling others to stop bashing. What's in it for you? If you think the bashing will lead to better performance of this stock, I just wanted to know why you think that given that it never happened before and everything else that's been happening with the company and PRs
no you can't...but you can and must learn from the past about what to do for the future.
All I'm trying to understand is what makes you so optimistic about this stock...
Penny, take a look back to a year ago..all the posts are still here...the PRs are in the SMAS Investor Relations site.
There was very little bashing going on then comparitively....yet Steve's pattern of releasing PRs was the same. If you think he stopped PRs because people were bashing him, you're out to lunch. You need to look back to posts a year ago or two years ago. And it's all available here. I've pulled them out before and referenced his PRs....and you can't refute those because it's all on Somatics own website.
The audit we're all waiting for is to verify the claims of 220% year over year increases in revenue for the year ending 2007 and first quarter of 2008. It was specifically quoted that the financial information provided was such that it would be easier and quicker to do the audit process. Yet here we are well into 2009 with no audits for the 2007 financial year. Do you really think bashing has anything to do with no PRs being released?
and you still haven't answered my question....what's your optimism based upon? Simply faith?
and he certainly did mention that a reverse split will only be done when it's in the best interest of shareholders. Well..he's certainly driven this stock to the point where the only way to get attention here is to do a reverse split.
he may not be helping current shareholders but atleast future ones. What you're doing is helping neither..you're just helping Steve.
At this point, no one can help this stock. As soon as Steve sees volume, there is further dumping.
actually Joelotto's posts answer that question precisely. The PRs stopped once he stopped dumping shares. It's the same thing that's been happening for the last 2 yrs that i've been an investor. There are no surprises anymore. It's reached a point where I shudder whenever I see a PR because I know more shares will be dumped. And this was happening even before Joelotto was bashing. Infact, as I recall, Joelotto was supporting the company back then.
Agreed.
Penny, I'm confused about your optimism. On what basis are you supporting the company? Do you have some inside news that the rest of us don't know? All we have to go by is the history of the company and all PRs which are open to the general public and this history doesn't paint a pretty picture.
Surely, if someone slaps you 10 times over, once for every time you visit them, do you really expect them to give you a warm welcome the 11th time?
only if he could remember to pay his bills on time...
It never happened. Go to the NCBTMB website and search up somatics. You'll find other organizations there that offer somatics, but not this company.
This PR (amongst others) was a complete lie...I'm surprised this guy's not in jail yet.
Pennypicker, welcome back hope you had fun in Vegas. Before you left you were arguing and trying to compare poker or gambling to this stock which releases official PRs to public. I'm sorry but your dealer doesn't tell you which card to play or what card he'll pull out next nor do slot machines tell you anything about what it's going to roll next. Steve does.
There are a TONNE of official misleading Press Releases I'll give you a couple of examples now. There are tonne more..but I think you get the idea. I'll quote official sources...the company's own website.
1) Go to the company's website and under Investor Relations, click Press Releases. Now go to the August 29, 2007 PR where he released financials for 2007 Q1/Q2 and 2006. These were to be audited by a proper auditor. There was no recession in 2006/2007. He claimed year over year increase of 220% in revenues and 255% in profits. Why not back up that claim with audits? The PR clearly stated in the 2nd paragraph, "Somatic Systems' financial reports were prepared in a manner enabling easy transition to the auditing process.". 2 yrs later, it doesn't seem like an easy transition, does it? There was even a mention of completing the auditing process as a part of uplisting in 2008. Misleading PR? I think so
2) Then go to the PR dated July 31 about being Nationally Certified Taining Program. It never happened...there are other companies that offer somatics that are listed with NCBTMB, but Somatics isn't there. Hence, it's a false and misleading PR.
I'm not gonna bash him left right and centre..but won't stand for any claims that he's been honest and is trustworthy.
Its' after the 4th. We should have heard something by now, no? This sounds similar to the last CC where he promised you a PR before the call and there was nothing.
It's now been almost 2 months since Tufan's conversation with Steve regarding Administrative Termination.
The "glitch in paperwork" seems to be taking a while to fix. I figured it'd be a simple pay and put the status back to normal.
Gucci has become an informed investor. I'm proud of you..you put emotions and faith aside.
You're right..he's no more (or less) rotten than the next pinkie CEO, regardless what he makes himself out to be or the number of times he claims to be accomplishing more than other pinkies. :)
lol..yes things do happen that are beyond our control, but they seem to happen more often with him.
Having said that, thank you gucci for posting that...it just tells me that I have till July 4th weekend to sell. After that..he'll start the PRs and further dumping will begin.
really? You can speak to him? :o I haven't been able to. Even the regulars that claim to have spoken to him can't even get a hold of him.
put your GTC order up now...it'll take atleast 10 months to sell.
on that account, I should also start a company and provide a service and make promises that I never keep in order to get people's money. :) Heck..we should all do that.
Actually it's probably VERY hard for Somatics to land that contract with the military given that the company's not registered with the licensing/certification board (NCBTMB).
I think the military will look at accreditations for this practice before signing anything.
I hope the rest of your portfolio is doing better Gucci.
I've decided not to comment on the 0 for 6 because I feel bad. You are, after all, one of his biggest supporters on here and so was 4He.
I hope we can all atleast recover our money here. Cheers.
I agree. I'd do what I can to make the situation better. The problem sirdeth is that I tried that for a good atleast 6 months to a year. I just wish I had Steve's support in my efforts and in all honesty efforts of other investors as well that were supporting him. But he kept diluting. It hindered my efforts and really there's no evidence to suggest that he won't continue diluting, even though in his second CC he said dilution will be kept to a minimal.
So you tell me...where does that leave you and me? We can both promote the stock in a civilized manner, but if Steve undercuts us and puts out another 5 billion shares at a fraction of 0.0001, doesn't that screw us over, so to speak?
I do agree that new investors have plenty of bashing to look at here...and I'll cut down my bashing! After all, it's not convincing any more new shareholders either. At the same time promoting the stock allows Steve to increase float further and allows him to undercut all of us.
For misleading PRs, yes. Unless you're Steve yourself.
Good luck in Vegas.