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I'm still here cuz I have so few shares that if I sold them all it wouldn't even cover the fees.(let alone the .38/share I paid) I'll play that lotto. That would be some story..."3 hold outs stike it rich with SPAH" LOL
I was thinking the same thing...to make any real money you would have to buy a million shares and be able get rid of all of them at once or you lose your profit in fees. You also sit with a knot in your stomach hoping the share price moves enough to make it worthwhile. Everyone looks at the % gain and thinks they hit it big but forget to subtract the fees.
How many shares?
Have you read any of the previous posts here? Who are you trying to sell that line to? The (maybe) 4 of us still here have seen tens maybe hundreds of posts like yours here. This stock will move when there is REAL NEWS. As Badgerbob and I have tried to point out, EVERYTHING points to SPAH as being a SCAM, so I really don't expect any real news any time soon. If you really want some of this stock I will sell you mine for the .38/ share I paid.....lol
getsome40 posted #11,747 in answer to my question...looking back he actually was pretty accurate with his thoughts concerning the doubts about this company and it's associates
In my post (#11738) I asked if another R/S was possible...
Thanks for the explaination. You're right, how do they keep finding people to buy shares of a company that basically doesn't exist and who's share price does nothing but drop? Who would buy $ 85,000 worth of hot air? I also don't understanding what legal services are being provided, what consulting is being done, and what professional services are being provided? Hell, if he paid me the $ 56,350 he spent for consulting and professional services I'll go out to the sight and dig around and at least look for some gold out there before I told him "Well, you might find some out there somewhere, I'll keep looking... for an additional $56,000".... Badger, if you bring a shovel and I'll split the money with you. LOL
Is there a way to find out who the investor was? The transaction has to be recorded somewhere, right?
Is it possible that this placement and the engaging of the engineering firm are connected? The press release was early May. Could it have been issued as payment/investment? Just asking because I am still trying to figure out how thing work.
Just left voice mail message at Dale's number and also called the engineering firm. Mr.Beach was out in the field so the woman connected me to his voice mail. I left a message with him. Also mentioned to the woman what we are going through and what we are reading in the 10Q and SEC complaints. Let's see what happens now.
Yeah, I was going to point that out after your previous post.If you look at Litigations, they claim none.
It is obvious that no one reviews these filings when they are turned in because they would be raising the same questions and red flags that we have. What good does it do to require companies to file these reports if they are not held accountable for the content, or if they don't even review them.
I can only guess that those fee have something to do with the SEC case with Good One, but Mr. Henry is not named in that complaint.
I wish there was somewhere to go to get some straight answers about Mr. Henry and Spectrum. That is why I am looking for actual customers or clients he would need to deal with. The engineering firm and the Siskiyou County officials are the only material, existing things I can find. As for my e-mail to the engineering firm; you guessed it, no reply.
As usual it says a whole lot of nothing.
I like the way it states (again) that Good One and Field terminated their contracts and forgave amounts owed for past services.
Services from a fake company!?!
It also states that The Promissory Note for the remaining balance for the sale of Avalon Perspectives was cancelled by the Good One and that the corresponding asset was reduced my the amount of the cancellation.
I take that to mean that Avalon Perspectives and all it's activities do not exist(The eco tourism/mining site that was claimed to be starting this month). If you look back on (much earlier) posts, I raised questions concerning the fact that no evidence could be found about the proposed site or activities that would have been needed to open such a site. (I called the county of the proposed site)
The question is...how much of Mr. Henry's company is real, and how much of the scam companies that the SEC is investigating (Good One) is Mr. Henry tied to. How involved was he with Mr. Field?
It does seem though, that something is/was going on with Graham Gulch because I spoke to the engineering firm contracted by Spectrum.
I am still very unsure as to what actually exists and what this company is actually doing on a day to day basis. They have patents on machinery and technologies that don't seem to be being used by anyone. Who are their customers?
stock market doesn't see it that way, with this early decline
What makes you say that? You know something we don't? Let us in on your secret. You realize that your credibility in on the line? If we don't see REAL news, you will be on the ignore list.
Also compare the time that the SEC lists as the time the Boiler Scheme took place, to the time period of the restated financial statement noted in the financial statement you gave the link for.
Badger...would like your input on the following...(look at the timeline) Noting that SEC release was May 16,2012
The Good One, Inc. terminated its contract with the Company effective March 19, 2012. Concurrently with its cancellation, The Good One, Inc. forgave $255,000.00 of past services and cancelled the remaining balance of its convertible notes along with the corresponding accrued interest.....
13. Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers
Mr. Keith Field resigned from the Board of Directors March 28, 201211.
Non-Reliance on Previously Issued Financial Statements
Spectrum Acquisition Holdings (the "Corporation") is restating its historical financial statements for years ended December 31, 2008 and December 31, 2009 and quarter ended March 31, 2010 and the related quarters of September 30, 2008, March 31, 2009, June 30, 2009, and September 30, 2009. These restatements are the result of monthly expenses from a consulting agreement erroneously being omitted
Just checked my e-mail,no reply from the engineering firm.
http://www.smallcapnetwork.com/Spectrum-Acquisition-Holdings-Inc/s/quote/p/s/SPAH/
Financials June 28,2012 1:04:16 P.M. Was this the latest info?
I did send an e-mail to the engineering firm @ 9:50 AM Eastern today. Let's see what happens. Not really expecting to hear from them. People hesitate to get involved in messy situations.
Contact info from SHN website...info@shn-engr.com
In post 12251 I mentioned speaking to Mr Beach the geologist at the engineering firm, he did confirm that he was contracted to do work for SPAH, I assume that meant that it was more than a quote for service.(we all know what ass-u-me means)LOL...Just wondering if he is aware of the investigation and if he has actually been to the site in question.Maybe I will try to send an e-mail, don't want to sound like a P.I.T.A to him, but we do have a stake in this scam of a company.
I wonder what the engineering firm has to say about Spectrum now. I don't even know what to ask them, if I decide to call them again.I am curious to know if they have actually done the work they told me they were contracted for. It was supposed to be done June-July time frame. If it was actually done I would think the results would be available somewhere.
I think you are correct,it looks like EOQ is last day of June. Looks like they filed late last quarter though. Not up to speed on filing rules but Mid August looks right
Got in early AM @.02 and waited for a break either way, was surprised to see it trade in such a tight sideways range for so long. Don't think I want to hang around 'til earnings. Guess I'll have to watch closely on Monday and make a decision. If we get a good move up I may leave some on the table 'til earnings though. We'll see.
When is their next quarterly earnings report due?
What now Doc?
how's that chart looking now? this turd is DONE! I've seen those same comments here dozens of times and always with the same result. Share price drops.
I am glad to see that there is some truth to at least one of the statement SAH has made. That's not to say their other statements are untrue, just wish more of them could be verified like this one.
Just wondering why it is that I was home a total of 23 minutes and was able to call and find the info from SHN, verify it and post it before anyone else who was on this board several times since the SPAH statement was first posted. People, pick up the phone and do some real DD, it's YOUR money on the line! BB thanks for the info so that I could make the call. Once again you prove to be reliable.
6:14 PM Eastern time... Just got off the phone with Mr. Shane Beach,Geologist with SHN. He confirmed that they have been contracted by SPAH to provide their services. Because of the sensitive nature of gold mining, he had to be careful of what he could disclose. Because of weather issues he will not be able to begin his work in the near future, but will be doing work for SPAH. The good news is this company does exist and is doing business with SPAH. He explained some of what the process is when a company comes to his firm for services. This is the most verifiable info I have found about SPAH. I am less (just a little) less skeptical
Wrote down the info from your post and a list of questions but it was too early to call them, then I was working til just now. I'll try to call them now.
A couple of lines that say nothing. Still there is no proof of anything. Just enough to get people to think MAYBE there is something going on. Another down day which nullifies the up day before, the only money made there was by those lucky enough to buy in and get out quickly,nothing for us bag holders. I'll say it again...the only way this this makes a SUBSTANCIAL move up is with a totally new PR, or VERIFIABLE news showing real progess. Their quarterly and annual filings are just legaleze to satisfy a requirement.
You know what, My little comment has NOTHING to do with how this stock performs. It is a POS and has been going down practically every day despite your contant hoping and cheerleading. I posted because the TD Ameritrade rep that left the message said it was in reference to SPAH. I specific said I would inform all with what the concerns were. If you got spooked by what I said, then you must not be as confident about SPAH a you like to sound.
Turns out it was nothing but a salesman trying to get me to use him as my financial adviser/manager. NO THANKS...Guess he saw this 1 bad investment and wanted to use that to get me to pay TD Ameritrade for doing nothing. I don't have much in SPAH dollar wise but the % loss looks very bad. Sorry for any anxiety caused. We don't need any more of that.
Received a voicemail message from TD Ameritrade (I bought my shares through them) saying they needed to speak to me about Spectrum Aquisition Holdings. I was not able to return the call until after their closing hours. This is probably not good news. I will keep you informed.
Thanks again
Thanks Badger....appreciate the info.
My original comment was directed at the notion that we have no recourse because this is a OTC stock, and that we should sit and wait to see what happens.
In the case of this stock, I believe more needs to be known about this company and it's people to file a useful complaint.
In the case of another stock I am filing against there is a greater trail of false statements and claims made in actual company statements and PRs (and I don't mean the paid pumps). I will be using the info you provided to make sure the complaint report gets to the correct organization. If you look in my profile you will see the company I am referring to.(The only other board I post on) I would greatly appreciate if you would take a look at that company and post your opinions on that board. I value your knowledge and ability to conduct real DD. Thanks again
Then why did the OTC give me the regional SEC phone # and tell me that that is the best place to make a report?