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And the audited financials are due out really soon...
Here is an oldie but a goodie regarding Jared likely scamming the shareholders:
Not saying I told you so but I was pretty close to figuring it all out way back then.
Posted by: enzymesarecool Date: Wednesday, May 20, 2009 12:23:45 PM
In reply to: enzymesarecool who wrote msg# 141541 Post # of 177358
Here are some interesting numbers that not everyone may know:
From Jared's financials (unaudited)
Q1/08
Accrued Officer Salary (likely Jared) $775,000
Loan From Shareholder (Jared?) $121,908
Payable to Consultants (belmont?) $1,450,000
Formulas values at $567,251
SHARES OS is 223,000,000
Q2/08
Accrued Officer Salary (likely Jared) $NIL
Loan From Shareholder (Jared?) $NIL
Payable to Consultants (belmont?) $NIL
Formulas valued at (50,000 each) $2,350,001
SHARES OS is 864,252,500
Preferred (Owners Control) $200,000
Wonder who got paid how many shares that quarter to settle the outstanding bills owed by the company and to account for increase in value of formulas?
Q3/08
Formulas valued at (??? each) $3,351,001
SHARES OS is 1,692,609,857
Preferred (Owners Control) $2,401,861
How does that go up without their being an issue of preferreds convertible at who knows what rate?
Q4/08
Formulas valued at (??? each) $4,275,168
SHARES OS is 1,692,609,857 (no change)
Preferred (Owners Control) $4,330,219
And those of you with common shares think you own this company?
Q1 numbers should be fun to see.
Any comments on any of this?
Maui Dave...
Step back and take a look at the lottery ticket you bought with all of your money.
The CEO is in trouble with the SEC and so is the company.
A trading halt may be just around the corner.
Everything issued in PRs by the company in the past has been pretty much proven to be fiction.
Their biggest customer WG is suing them.
The company they got the shell from is suing and will likely end up with the shell again at the end of the day - RS about 1000 to 1 and change the name.
I originally came to this board several months ago to see if this was a worthwile investment. I chose not to invest and then let people know why including pointing out that based on the ridiculous financials that Jared put out last year it was obvious that the sales were not real but that he had vended the formulas into the company for massive amounts of money. I just did not figure out that he was taking the money out by doing the WRAP Scam.
Now I have to admit that Jared has alot of nerve. Look at the recent response to the SEC complaint. He says "until further notice" they will not sell more shares. You think he is going ot issue a PR stating that the printing press is back in business?
I have never owned shreas in this thing and will never. I stayed here to try to warn people like you that you are throwing your money away with this stock. Others tried ot do the same and were hassled as shorters, competitors, waiting ot load up, etc.
My advice based on your last few posts....all IMO....you are not "broke" until you hold this to the end. There is little upside to this thing. You said today you added to your position - you are averaging down which makes your breakeven a little closer above where we are. Ask around and see if that has worked for most on this board. They have been averaging down since 2 or 3 cents with their fear and greed clouding their senses.
You are not broke if you get what you can out now and then do much more investigation before the next time you buy a stock.
Just my advice - take it or leave it.
Was thinking the same thing. The best part of knowing the date of the next CC is knowing to sell the day before it....LOL.
Not long IMO. the longer people have to hold with no news, the more they see other investments that they wish they owned head up...eventually they realize the opportunity cost of sticking with EESO "hoping" for news.
If the WOW launch comes and goes with no real announcements etc...this one heads lower faster...
EESO4LIFE,
Where are you getting your info taht the silence is because of court litigation?
Look at it logically. The court cases - WOW - especially, have nothing to do with the commercial side of EESO so there is NO reason for EESO to not PR significant contracts and developments. If they had achieved any sales, then they woudl PR them. They have a history of that. Remember, this is a company that PR'd a $5.95 bottle of cleaner sold to a local McDonalds. I suspect that they would PR bids on a bottle of cleaner they listed on Ebay if they got any bids.
IMO, the silence has everything to do with nothing to PR that can be backed up by actual contracts as well as Jared et al realizing that securities regulators do not take false and misleading PRs lightly.
And Bill Whyte is 4 people below him on the list...LOL!
If you count Jared as people then yes...people just getting out...
Who has multi million shares to unload at any price possible?
I think Legion is correct saying that Jared was off by about 95% on his revenue predctions for this year.
Since the court deocuments show that EESO billed WOW for about $300,000 for three months early in the year, the annual billing there are likely going to be $2 to 3 million (generously).
Hands up everyone who thinks that the Lee's contract for $10 million is still being shipped and paid.
Anyone, anyone, Beuler?
Of course, we do have that $14.95 sale to the local McDonalds so...net of the cost of the PR announcing it...never mind.
You may be correct with the 1000 to 1 conversion ratio.
Now the bigger questions are how many preferreds there are and how many have been converted and when we will even find out those numbers if ever.....
When they took over the shell there were 1 million preferred outstanding and the preferred line on Jared's old financials that he published appeared to head up so likely more than that out there now - probably double in fact.
So Jared (or whomever owns the preferreds) own 2 bilion common equivalent.
Hmmmm....where are all those shares coming from that whack the bid every now and then?
You may be correct on the 1000 to 1 conversion.
Do we have any idea how many preferreds there are and if nay have been converted yet????
EESO's audit will be very simple as, to the best of my knowledge, they likely only have five or fewer customers.
What will be interesting is:
value assigned to accounts receivable given that much of it is 365 days past due - how do you convince an auditor that it is collectable?
actual sales in the quarter?
value assigned to numerous other assets, like the formulas etc
and, this may be the best chance to find out the actual number of shares OS and the conversion rates on the preferreds as these SHOULD be part of a full audit
And finally, I wonder if Jared will release the summary of unadjusted differences? You know, the things that the auditors say they do not agree on but it is management's call to change or not - these can be substantial but since statements are the responsibility of management, the auditor could still sign off and point the finger at management in the unadjusted differences and we will likely never see these figures.
Was thinking the exact same thing...Enron et al is perfect company for EESO.
One,
Who are the $10 million in A/R then if not WOW?
A/Rs are primarily WOW and we know that relationship is not all sunshine and kittens right now!
And EESO is not likely profitable right now (after writing off A/Rs) and has little assets of value so...current market price seems right.
But who buys a company for 10 times what the market price is??? Premiums of 30 - 40% are reasonable. 1000% premiums are likely fabrications designed to sell shares into for insiders and the company.
like ONE said,
We hit .05 already.
200million for a company with unmatchable formulas is worth it.
Wouldn't you buy a company who can grow revenue through the roof 2-5 years down the road?
The Green Revolution is coming whether you like it or not. EESO holds the key to the needs. 100% safe and effective.
Need I say more
How many shares were OS and in the float when it went to 5 cents? What were sales expectations for the next 12 months at that time?
What are those numbers now?
It is a very different world now...they can not even collect receivables from their primary customer (whose recent other venture declared bankruptcy) - a 5% margin turns into a 95% loss pretty quickly under that scenario.
IMO the 10 cent buyout was never real in terms of actual value - if there had been a buyout it would have included shares in Han Bool and Star Towers etc that would have been restricted from trading and would have been assigned an artificial value of 10 cents. You would have been lucky to see any cash and you may never have had the opportunity to even get 0.0002 cash that the market is giving you right now.
And the talk of proprietary formulas is interesting but every enzyme company out there (and there are LOTS) claim to have proprietary blends.
Given yesterday's weakness and what appears to be dilution, with little buying interest, I suspect this thing isheaded into the .001's today.
Good luck to all that still think there is hope here...
But it was nowhere near 10 cents when "offer" came through....
Closer to a penny at that time.
EESO4LIFE,
What makes you think that 10 cents was the real value of a real offer?
One,
Interesting about the PRs for EESO and MIKP. I believe you are correct about Jared likely owning shares in MIKP.
People ask where Thurston Howell III is these days....she is on the MIKP board.
I suspect most of the "insiders" or original holders of EESO have left it for otehr pastures and have left many here holding the bag.
I DO NOT own shares of either company but I am fascinated by the way the Ft Wayne seems to churn out these pinkies and half the town gets rich off the backs of inexperienced traders....
EESO may have a run left in it but I doubt it will have many of the original holders participating andwill likely just be stock dumping exercise so will be muted by hundreds of millions of shares being printed and sold by EESO.
All JMHO....
Trying to open some eyes to what is happening and has happened here - not one to stand around and watch carnage without reacting...
I think there are other here with no motives other than to try to talk some sense into some who have not yet been taken in but may be if only the "Up with People and Up with EESO" gang are allowed to talk.
With 2 - 2.1 as the ending point today. likely going to see sub 2 tomorrow at some point and a close in the 1's would shake the last sliver of confidence that some investors have...
Multi-million share sells are, as someone already said, likely dilution by the company and if they think .002 is a good price....make your own conclusions...
Time to stick a fork in this one because it is done.
No posting, no interest other than from those who flip for a 5% profit and those who are hoping to recover a bitof what they lost but will most likely watch this fall even more...
Was an interesting story but any "run" will be muted by the flippers and the likelihood that shares will be sold into it by the company...
Retail picks up in Fall then explodes into Christmas season which is king. Summers slowest time.
Good things are ahead for sure. I plan on buying my wife a gallon of enzyme cleaner for Christmas.
By the way, anyone know a good divorce lawyer?
EESO4Life..
You said:
Jared did the same thing back in January when this ran. SILENCE! I just read through a bunch of old posts and their are a bunch of names on the boards now who were PRO-EESO back then and pumping the crap out of it. I wonder why they changed their tune now?? IT'S RELOAD TIME, THAT'S WHY. EESO WILL MAKE ANOTHER TRIP TO THE MOON. GO EESO!
I am curious if you can name 5 (that would be about as small as "bunch of" would be defined in my books) posters who were pumping the stock in January 2009 who are now posting against it. Since you state that you have read the posts in January 2009 and recognize names that were positive then and are now negative - this should be a very easy request.
List the alias, the post number from January where they are positive and the post number from this month where they are negative.
Thank you.
"My phone went off because of high volume this morning, what triggered the volume?"
IMO - People throwing good money after bad!
Jared has alot of shares to dump - just under 3 billion actually so 70 million is not much. So does the paid promoter who put out the "investment research" this morning. They state on their site that their intention is to sell the shares immediately. I guess people are buying what the paid promoter does not want to hold even for a half hour. Hmmm.....makes you wonder.
Probably from treasury. Watch your OS shares after this. DOMS probably contracted to move shares for the company and they do not really care what price they move them at as they can increase the A/S at any time and apparently all here will forgive them and buy more based on paid promoters saying this is going higher.
How so Boehmer?
"also, where in the hell did that "goodwill" number come from? who did eeso acquire to justify goodwill of close to a million smackers?
the $3 million plus of the formulas is also a joke."
Seems to me they acquired Jared's old firm - anyone care to figure out how and why you book goodwill when you by another firm? And who the recipient of that goodwill dollar figure is?
As for the formulas, they jump all over the place in value. Jared will need to convince the auditor that they are worth what they are being carried as on the books. Not a chance in my books.
I recall digging further and laughing at how amateur these financials were and how obviously ficiticous they were. No auditor will ever sign off on anything that relies on what jared has already put out there....and he won't pay to have them come to an audited conclusion because then they are virtually auditing from the start of the company.
It is one thing to have to gain assurance over reasonable numbers and then sign off - it is another to walk into a bunch of made up numbers and have to put your professional designation on the line. Not likely to happen.
Lazy,
Here are some errors:
Q2 sales are $504,000 - you do know it is a 1 in 1000 shot that the sales number would be an even thousand right? This is not a company reporting in (000) - Very convenient number to come up with and highly unlikely to be true.
Q3 sales were a triple ZERO again (7,975,000) - buy a lottery ticket Jared because two quarters in a row of even thousand dollar sales is incredibly lucky - to be exact it is a one in a million chance that these numbers would be true (1000 times 1000 - the odds of each event happening separately)
Q4 COGS is another triple ZERO number at 425,000 - can I rub your belly Jared cause you've got luck written all over you
And before you say that he is just rounding the numbers, these are the only numbers that he has control over that are rounded. In each of these quarters, where sales are triple 000, COGS is non-ZERO to the decimal and where COGS is 000, sales is non-ZERO to the decimal.
Let's not even get into the fact that his gross margin on similar sales numbers went from 19% in Q1 on 630,000 sales (my rounding) to 27% (no rounding) in Q2 on lower sales at 504,000.
Q3 monster sales of 7,975,000 generated a record gross margin of 45% and then in Q4 when sales fell back to earth at 832,571 you would expect gross margin to retreat but it kept going to 49%
Q4 receivables went up by more than Q4 sales - absolutely impossible unless there was $400,000 of bounced cheques in Q4.
Any auditor will see very quickly that what was presented to shareholders up to this point seems to have been completely made up - the odds of the numbers presented being true are astronomical.
So the auditor will likely walk away from the engagement before it is over and then end up suing Jared for payment. Smart auditor will ask for cash upfront (if they are reading this)
Nope. I know you can start auditing mid stream. I also know that the continuity of what Jared has put forward is at question as there are so many errors in what was presented to shareholders in the past that the auditor will have to reconstruct everything to come up with true numbers on the accounts receivable side and the asset side etc.
And at some point their qualified opinion will have pages of weasel words that wwill effectively say that there is so much uncertainty in the numbers that they remain the responsibility of management and they will most likely not sign off on the audity or Jared will choose to not release them.
Lazyfaire,
Let's go with what you said in terms of what will be released etc.
Basic question is: How will auditor even audit the numbers for Q3 if Q1 and Q2 are not audited and build on the works of fiction that were carried forward from 2008?
An audit requires verifiable starting numbers and there are none of those in last year's financials so how will Q2 numbers be any more verifiable?
I predict there will not be audited financials for Q3 - because an auditor needs to be reasonably certain that the starting numbers are real and how can they be certain that the June 30 numbers are realif they do not go backwards through the shoebox accounting that Jared has been doing.
And once they start moving backwards to come up with believable and verifiable numbers, they will not find any - or at least none that jared will want to pay to have researched, let alone published.
Mark this post - no audited financials IMO.
".0035 new low of day--next week below .003 probably "
Still plenty of time left today - do not rule it out.
"I can not keep taking this slow bleed...just to see my shares worth nothing in 2 months. good luck to all of the longs."
May take a little longer than 2 months but if anyone thinks they will ever see audited financials out of EESO then they are clearly delusional.
Why no audited financials? Not just because I do nto believe anything Jared says anymore but because no CA would be able to provide an opinion that has anything less than 20 pages of qualifications on them.
Audited financials need verifiable starting points. So Q3 2009 needs to have a starting point that the auditor can satisfy themselves is correct.
Do you think that they will be satisifed with the type of accounting that has gotten them to the Q2 2009 financials - oh wait, there are none - and there are no Q1 2009 financials either.
And the 2008 financials are such a work of fiction that the only auditor who would sign off woudl need to be paid 1 billion shares and be in hiding before they ar even released.
Oneinamillion keeps saying that we are 1/2 month into our first audited financial quarter - mark my word, you will never see them!
Skymark Website Created July 5th 2009.
Several parts obviously ripped from other similar penny shilling websites as they forgot to change the name of the other firm when they cut and pasted large chunks of information.
DD22
From your post:
"Sometimes he makes really good decisions."
I am having trouble thinking of any but if you say so....
You said: "Hit 8mm in 08, and well on the way for 09 projection: 6mos. half way there pretty exciting huh?"
And their projections for 08 were much higher than that - in fact, jared had said that they would do 2 - 4 million from International Pacific Sales by year end and he said 20 million pens let alone other products.
And before you say the reason they did not hit the pen target was because retail swtiched over to WOWGreen - then the target also would have switched.
And let's be honest about the $8 million in 08. They have only received payment for about 10% of that so while it is technically a sale - the margin on it is currently -100%.
And you actually believe they are well on their way towards 09 projections? This is a company that PRs the sale of a bottle of cleaner to a McDonalds. I would think that if they had sold anything other than the Lee related $10 million and the non-paying WOWGreen stuff we would have heard about it by now. I put them at well under $10 million in sales for the year at this point and I am being generous.
Take off the rose colored glasses and join a few of us in reality.