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Ok, then, I guess I bid the board adieu then, since my words are meaningless.
After saying that all, don't count SDVI out. Remember part of what I said is hat the Distributor doesn't know who they messed with. Yes, it was a lost battle, but the war isn't over yet.
Mart is very good and I've been consulting with him on how
to make this a Phoenix.
And I IMO something good will happen very soon.
Sounds like you are working for Universal.
Let me address some of your points.
$1 million+ is real money. 401k losses are $300k+, and a judgement for $667,000 a personal guarantee for Graffiti/SDVI which was an invoice was not paid. You can verify this through Washington state court and California legal documents if you know how to search. I'm hoping Graffiti/SDVI can recover through legal action, but legal action takes money.
Pacer is a great place to start. This caused the IPO to fail. A very big public company decided to try and bankrupt the little company and came very close, but they don't know who they messed with.
So yes, 1 million+ in real money. Irrespective of adding any compensation or lack of compenstation from SDVI.
So I don't really care if you think I faded away, too bad. Who wouldn't?
The one thing that sickens me about people who post on iHUB who think they are due some sort of explanation from me. They do deserve an explanation from the company. The company is a separate entity from me and always will be.
As for resigning, Terry and I did both resign over 1.5 years ago. Nevada and other states did not have a requirement to file anything except yearly when you file your annual directors list. Since SDVI couldn't do file, as you can see from the Nevada SOS website, nothing was updated.
Doesn't mean I didn't resign and we in fact did file the new forms Nevada put out, in I think 2010, where you can file to resign for $75.00. I still have the documents that were filed. They probably wouldn't file them because the rest of SDVI isn't current.
Yes, I update the IOS apps. Did I have to? No. Did I do it because I feel bad for people that invested in SDVI in the public market, NO!! Pink sheet investments are a gamble, a big one. I gambled that the distributor would pay per the contract and they didn't so I lost. I feel for you, but do I personally feel responsible, no. The price of the stock is controlled by market makers plain and simple. SDVI was at one time $1.60 for no reason, it then came crashing down because of traders.
If you lost your money, it's the pink sheets. Do you get mad/start lawsuits if you lose at the craps, blackjack, roulette or the slot machines, no.
Everyone knows that pink sheet companies are dangerous. Yes there wasn't a follow up when things went south, but I'm sorry, $1 million in real money is beyond my fiduciary duty.
LOL. Thanks for the laugh. It helps.
Yep, Still the Constitution is valid (for now!)
Of course it is locked up with a Biometric safe. Of course it opens in 1 second, which is good.
Thank you for the support.
There are several on here who have personally attacked me for year and I decided not to engage here anymore for that very reason.
As for investors "buying" my house, etc. It's crazy that RRSilverShadow would say such a thing. He's been involved in audits, etc with other companies. But, he should know that the "bank" owns my house, not me.
My wife and I took a very big hit with respect to SDVI, to the tune of $1 million+. The fact that I am even helping Mart out or posting here probably shows my insanity.
The fact that I continue to try and get SDVI back on track with helping Mart with no pay is probably even more insane.
I could care less if investors contact the SEC which is now Finra by the way.
Even if they did try and go after me it might be good. They usually try and recover money that was profited by unscrupulous CEO's/promoters, etc. And usually with fines, etc. I think usually about 3x. But since I didn't profit...
So, cool, I could get $3 million back then? I hope so.
Not calling the shots. Just consulting with Mart so that he knows where everything is and how everything corporate works.
Then working on technology.
No, Stealth means "not disclosed", hidden. It's not the name of the company, just letting the public know that the person cannot disclose or doesn't want to disclose the name of the company.
I'm not done with Graffiti, other than from a corporate management standpoint. I will still be helping with the technical side of things.
This is not a project for Graffiti. I'm helping the inventor of the technology get funding for developing products.
Any console (XBOX, Wii, Playstation, DS, etc) titles that are developed (programmed, art work, etc) have to go through a licensed publisher which Graffiti is.
Stealth = Not willing to disclose anything as of yet. I'm partnering with 2 other tech guys. I'll be working with his technology which is pretty cool and developing product with him.
The products that are developed for Playstation, Wii, PC, XBox 360 or other products will be published through Graffiti.
Watch www.kickstarter.com (hopefully later this week) for a project that will come online.
- Ken
And a press release to boot.
http://www2.marketwire.com/mw/release_html_b1?release_id=780650
Q2 has been there since this morning.
http://www.otcmarkets.com/otciq/ajax/showFinancialReportById.pdf?id=56231
For the new question on split for Graffiti/SDVI.
I'm thinking about renaming SDVI to Social Systems Technology.
All digital products will go to SDVI, all console products will go to Graffiti, but with royalties exchanged between the two companies.
New conference call update on SDVI
http://www.ustream.tv/channel/sdvi-shareholder-update
Dear Ihub Shareholders,
As always, I strive to be transparent as possible without violating any SEC rules.
RJ, has expressed his opinion about what SDVI has rights to and if contract(s) is/are binding or not. And I will not comment on pending or anticipated/possible litigation that we may enter into regarding RJ and or other deals. That would be complete speculation and conjecture. It is also not RJ's right to demand or give non-public information as he has done and he maybe violating Non-disclosure agreements.
I cannot and will not discuss non-public information here. It is not a right of individual shareholders to receive information before everyone else. Hence, I maybe silent at times.
As for the IPO our plan to IPO Graffiti has not changed, hence there is no need to make a statement as such, until I can put together another conference call and layout everything that has happened to the general public. This is not disrespecting iHub shareholders of SDVI in anyway, as it has to be done this way. Saying that I'm disrespecting shareholders by not giving away inside information is just plain wrong.
As previously stated, Reader Rabbit would ship this week and was shipped out to retailers yesterday. This is public information that was already disclosed and I am just reaffirming it.
If you would like to order Reader Rabbit Wii from Ebay, we should have them in our offices today for shipping.
Now that the Wii version has shipped I will update everyone as soon as possible and as soon as something changes. For instance once the audits are complete, I put out news. Since there isn't news on it yet, then it's safe to assume they are still in process. I don't think it's my obligation to constantly update shareholders on the minutiae of the audit process and give you details on what an auditor is requesting from us. It is very routine stuff and the auditors are just taking longer than expected to go over everything with a fine tooth comb. They are PCAOB certified and it is their reputation on the line if they do not. We have complicated books because of the diversification of businesses we have entered.
DTC Eligibility.
I will update everyone at the same time on other non-public information. This should hopefully happen soon. But in regards to the DTC Eligibility. We always have been and still are. I just verified this with our transfer agent who verified it with the DTCC. My attorney is contacting Penson to have us removed from that list.
Dear Ken:
Your company is DTC eligible.
Thank you.
Sincerely,
Olessia Kritskaia
I s l a n d S t o c k T r a n s f e r
Full Service Transfer Agency
100 Second Avenue South, Suite 705S, Saint Petersburg, FL, 33701
Office phone: 727-289-0010 ext. 243
Fax: 727-289-0069
Email: mailto:olessia@islandstocktransfer.com
web: http://www.islandstocktransfer.com
Reader Rabbit on Nintendo.com
http://www.nintendo.com/games/gameGuide
Graffiti has paid us some money, but more than that
the pre-sales of Reader Rabbit are looking very good.
I'm not saying we'll buy the whole float back, but I'm sure
going to try to.
2.5 cents not .0025 cents.
The plan is to buy up to 2.5 cents not the previously stated .0025 cents.
For that matter, depending on profits and how much float is out there, we would purchase at prevailing market prices at any amount.
The S1 registration document is 1/2 done.
The Audits are almost complete and should be hopefully next week.
The S1 only takes about 7 days of my full time attention to finish. Then we are ready to file.
So what if Graffiti IPO's at $3-4 Euro? It's free money for the SDVI shareholders. I still don't think it will IPO that low and that is what the other acquisition can bring to the table.
And speaking of S1. I'm putting full time attention into that and this will be my last message for a few days.
Yes, I do.
I would just like to quick stop by and say Hi.
1. For everyone that is frustrated with the "lack of information." You do realize that we are a public company and have to disclose things to everyone at the same time don't you?
2. I've been very forthcoming, more than any other pinksheet CEO that I'm aware of and think that I maybe giving out too much information and all I constantly hear, is "more, more, more When's the next update?" I'm working on the audit as stated. It's not a 2-3 week task as others have claimed. The document list is 2 years of documents we have to copy and reconcile with our books. We also have to fill out 50 paragraph questions just for how we do our IT because of Sarbanes Oxley (SOX) compliance and that's just one of them. The other document(s) are what M&K call PCA-CX-3_1 CLIENT INFORMATION FORM which is 50 questions that require many paragraphs to answer and some of these questions are go into the S1.
3. The S1 document is probably going to be 100+ pages too. It includes the full financials, MDNA (Management discussions and analysis), etc.
4. Several of you have taken it upon yourselves to contact parties we have LOI's with or deals with too. Please stop. You create more work for me, but you also put yourself in serious jeopardy of garnering inside information and could be setting yourself up for legal problems with the SEC.
5. Cut me some slack. You've verified the M&K CPA's, so you know that's what I'm working on.
6. I can't focus my attention on keeping the 10 investors on iHub consistently up to date all the time and all you do when you complain and spread FUD (Freedom, Uncertainty Doubt) is feed the shorts with ammunition. I'm focusing on the business side of things.
Regards,
Kenneth Hurley
No VCC today.
I said I would try. Working all day on reconciling the
inventory for the auditors.
We have manuals at Duplium Canada, Duplium Texas and need
to account for all inventory everywhere. It's almost done
but been taking all day.
I will try for the VCC on Monday.
GO SDVI
His ask is still there.
VCC Update soon.
Sorry everyone, but I'm working on the audit. There is a list
of documents and spreadsheets that take a lot of my time. I hope to finish that part today.
I also have to work on the S-1 registration, which is a like a business plan with the audits in it before we can file it.
I'll try to do a VCC tomorrow if I can finish all this other paperwork.
GO SDVI
That made me laugh. Thank you.
go SDVI
Ah, typical FUD from a shortie.
Yea, always the same lame BS. It's the CEO and his family doing a pump and dump.
No, I cannot see my shadow today, but apparently someone hasn't been to Northern California. It's beautiful and blue skies here
for more than 9 months out of the year.
GO SDVI!
I thought long and hard about no VCC today.
But there is a quick update on www.ustream.tv
I planned on doing one this morning about Reader Rabbit passing Lotcheck, but the Japan earthquake
would drown out the news and I felt it disrespectful.
I however decided to do it and acknowledge Japan is in our thoughts and prayers after seeing
Obama on TV going right to the price of oil instead of talking about the Japan earthquake and how we can help. What a Schmuck.
Quick Update Video.
http://www.ustream.tv/channel/SDVI-shareholder-update
Testing has to be local at our offices.
Unfortunately the Wii's are special testing units only available
from Nintendo and are $800.00 a piece and only play Wii DVD-Burned
from special Nintendo discs that do not run on retail consoles.
GO SDVI
Full court, not Half court.
Ok, they are 3/4 full courts run side by side 4 on 4 games. Still a good workout.
GO SDVI
I said please.
"I also will not be told..."
I asked nicely, I didn't tell you to do it.
GO SDVI
I'm pretty sure you don't get delisted on the OTCBB for a falling share price.
Do your due diligence.
The other big boards like the NASDAQ you do. I don't think there
is any minimum requirement for the OTCBB other than reporting
requirements.
I'm going to play basketball, need to take some aggressions out on the court.
I'm posting to be transparent and keep my shareholders up to date. There is no ulterior motive here to try and "pull the wool" over investors eyes.
I still own >51% of the company and am the major stockholder. I've never done a reverse split, because I know the consequences.
My point here is that a stock like LFBG is sub-penny and OTCBB and is a looked at as a laughable joke. SDVI is a real company that I've run for 8+ years and been public for 4+ years.
The post was not made to to generate subterfuge for an actual R/S. If you don't believe it, then please sell your shares in my company and go away. I'm an honorable CEO and not a scammer who's trying to take your money and really don't take kindly to your comments and accusations.
"Ken, IMO, that post was in poor taste, It appeared as maybe you had a conversation in advance with Clevertrade and by endorsing his post it could be preserved as poster being used to prepare the board an inevitable R/S. Not a good sign"
Man I hate answering questions where people don't research the answers for themselves. But here goes.
"Ken or anyone, can someone answer these questions -
1. We had a share price of well over $1.00 back in 2007...where were all the institutional investors back then?
2. Wasn't SDVI delisted from the OTCBB due to a falling share price? "
1. We were a pink sheet stock.
2. We were never on the OTCBB or the NASDAQ.
Clever is right on target.
You fear mongers amaze me. The restructuring I was talking about in the video (if any) is exactly what clevertrade has mentioned.
The only reason and possibility of a R/S is everything in clevertrade's statement with a couple more reasons if we were ever to do it.
1. Market Makers and Brokers have recently refused to take or trade in sub-penny stocks.
2. Institutional Investors won't invest in pink sheet stocks.
3. OTCBB uplisting with new investors
If and only if we decide to do a R/S, it would only be coupled with a uplisting to the OTCBB and not to turn around and dilute
again, which is why most companies seem to do a R/S.
Guess it might be time for a quick video update on the deal and other stuff.