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Friday. Load up now
oh lord... time? Pennypicker, I don't mean any disrespect, but exactly how much time are you willing to wait? As you wait, at some point you realize that tonnes of money is being spent all over the place - sponsorship, news about share buy backs, fantastic military deals and beginning of treatment of military and veterans by February, etc.etc.
Then one day reality hits and you realize that even the DVD that was PRd a while ago hasn't even been released ..wasn't that to compliment the TV shows? So all those interested viewers were left hanging with no DVD..and have probably forgotten about that infomercial already. Then you also realize that the company has 6 months remaining until it's military contractor registration expires and the firm it hired to represent itself to the military has shown nothing to date!
Then you do some more digging into this company and realize how stupid you were for not doing this earlier and realize
1) There are only 23 unique practitioners including Steve (it's on their website, count them). You gotta wonder..did the rest drop out of all those classes? If so, why???
2) They started targeting military in November 2006 (also on their website under PRs), after 2.5 years, they're still just trying to get their name out there in the military at this conference ???
3) In the last conference call CEO mentioned that the treatment of Veterans in February was small scale just to see how things go..there was nothing expected of it. But wait a minute...wasn't that in a PR on February 7th 2007 where they were working at targeted VA hospitals? Last line of the PR stated "Total Somatics™ techniques have been tested on numerous members of the U.S. military with overwhelmingly positive results". Yet here we are during a conference call in the later part of the first half of 2009 saying that we're just starting to work with veterans? Something definitely doesn't sound right...
4) On July 31, 2008, Somatic Systems was to become the first Somatics education school to be licensed with the NCBTMB (National Certification Board for Theraputic Massage and Bodywork). There are 7 institutions listed that provide Somatics related services in the US. Somatic Systems is NOT one of them! Odd..no?
5) Somatics announced the targeting Major League Baseball was announced in late 2007. This never went anywhere, nor was there anything announced about talks breaking down. Show me the upside AND the downside Steve!
6) August 22, 2008, they announced investing in the development of Somadex, a unique Electronic Medical Records software aimed at Somatics practitioners that was supposed to sell between $1000 and $10,000. Shareholders have heard nothing since about this investment. There are 23 practitioners, how many are using this? Has it even been developed or is it on the same waiting list as the DVD?
7) Share acquisition announced August 20th at which point CEO mentioned removing as much as 1/2 the shares. Here we are with multiples of the share count that we had back then.
I could go on..but I think everyone gets the idea...time has definitely told a story here. :) Have a pleasant day!
Agreed..it's not a matter of delaying a few things by a few months anymore. None of what was to be delivered by December 31st, 2008 has been met and whether it'll be met by December 31, 2009 is also in question. Conference calls seem to raise more questions than answers...and it's reached a point where most people that listen were left saying "augh..not this again. How stupid do you really think I am Steve?" and put their shares up for sale momentarily after.
The financial info will never be released...chances are, they're not even updated given that Steve forgets about his payments, whether it's for a conference or for even listing this company. In fact, I'd like to see this company's corporate credit rating based on how many outstanding payments they have or missed payments. I'm sure any potential lenders will take a close look at that before investing.
Personally, I've written this company off as a loss and am trying to sell my shares for 0.0001 Hopefully we can all get out of this with minimal loss....but unfortunately, in order to do so, some sucker will have to be taken in.
is there a minimum volume that a stock must trade every so often before it's halted?
This thing's had a number of days of no volume now.
0.001 is good enough for me.
"oh no"? Oh no as is "oh no he asked me the question I didn't want to answer"? or oh no as in no reverse split period? =)
when there's a 10 million to one reverse split
I don't know if he can just file for Chapter 11 and walk away. I think he has to request it and then the appropriate governing body investigates the issue.
In order to file for a Ch. 11 does he need to release his financial info to the government ? I would think that there would be some sort of an audit done at that point of the PRs or information released to creditors?
I'm unable to sell
I've had a sell order in for over 2 weeks now. This is horrible. Do I have to pump this thing before I can dump? Let's see..it's been a while...
this is a sure shot buy...you can expect to earn 1000x the current investment. So much to look forward to...uplist, military contracts and..blah.. I can't do it.
are you really expecting anything different? :)
I'm not even going to waste my time.
10,000 to 1 probably. Who knows....the volume we've been seeing last little while is indicative of the damage that's been done. New investors are holding back as well...as they should.
On November 13, 2008, Leading Points Corp. was engaged in a 24 month agreement to present Somatic Systems to the Military. It has now been 6 months. I think we're due for an update on what this company has done for Somatics in the past 6 months.
Come on Rick, this type of "news" still surprises you? After all, this is what is referred to as "really exciting news".
As far as I'm concerned, this stock is long dead...no chance of recovery. If you can get part of your money back while minimizing losses, consider yourself lucky.
take a look at the chart for the past year. The fact that it hasn't moved, regardless of the number of PRs and conference calls that took place should say something.
On the contrary, its' been suggested that Steve no longer owns as many shares as he had last year. I was a supporter for past 2 yrs...but no more. I've seen all I need to see..expecting this to go somewhere is expecting nothing short of a miracle to happen when all odds are against the company.
He keeps saying there's good reason behind why auditors names weren't released or financials weren't released. They've been delayed time and time over again...we're way past the end of 2008 deadline..we're way past the end of Q1 2009 deadline. If at this point he can't answer what those good reasons are...then there's something fishy.
Actually, he wasn't just in the PROCESS of closing that financing deal, he actually had one signed and another 3-4 were closing at the time.
How does a reverse split vastly benefits shareholders? From experience, the price reverts back to what it was before the split turning shareholders into bagholders. To future shareholders a reverse split is nothing more than admittance of failing company.
The only way to make it work that I can see is if we have a tonne of volume consistently for a few months before the split so people are excited about the company and they can only see a split doing FURTHER good things to the company. We're talking volumes around 400-500 million every day at current price. Having said that, for a pink, it's pretty much impossible for it to do well after a reverse split.
Yes, letting it go will only encourage him and a few others to do this again and again.
This is an absolute mess. I've never seen so much disorganization within any company..no matter how small. I'll bet he won't even know about this until someone calls him and brings it to his attention..just like Battlefield sponsorship.
I think it's time we accept that our money is lost. If anyone is interested in or has any ideas on filing complaints for releasing misleading information to investors or any ideas on how to get our money out, I'd be interested in knowing.
I wonder where Lleonidas and Gucci are. Haven't seen 4he around either.
On admin hold because of a bounced check or negative trust balance. *sighs* Like I've said before...it's carelessness that's taking this nowhere.
If we ever want our money back, we need to move him out and form a new board of directors and let Steve practice.
On the contrary, the vision is quite wide..a little too wide if you ask me. He wants to go in every direction.
It hurts to see this thing have such low volume.
Very well put. Note all supporters disappeared after the call.
This thing may move..but not anytime soon.
Your opinion is shared by many on here including myself. Although I don't agree with your presumption on the image, because generally sponsors are sitting there alone while there are events happening. Needless to say, it's been drive to the ground...there is no interest. How many people have their shares for sale right now?
If the stock wasn't dead before, it's certainly dead now after that last CC. I think even 4He was expecting news ...perhaps about a merger or a contract or something.
Actually, he didn't say he had financing lined up, he said he had it secured with a signed contract by atleast one. See notes from the first 2 conference calls.
There's way too much talk about what's going to happen and not enough details on what actually happened. No specifics on what the revenue from 5 billion will be used towards and no specifics on how much was raised from that etc.
At this point, I'm not even joking when I say some of us should get together and consider buying this company out and create a new board of directors and tell Steve to do be a board member and a practitioner.
Yes I agree and I'll say it again and again and again - it's an absolutely fantastic product! The problem is that you want to be betting on the jockey, not the horse. As good as the horse can be, it's ultimately up to the jockey to ensure the horse wins the race.
Here, we have a great product, but Steve has his mind in 10,000 different places and isn't focused. We almost missed out on Battlefield Healthcare Conference because the payment hadn't been made, had it not been for one shareholder checking up to ensure that Somatics was still registered. State of Nevada Securities were forgotten about until mid last week. Now he's discussing having operations in various countries when he hasn't even completed the DVD project yet. I was left shaking my head upon hearing him talk about Germany, India and Poland. I think that was when I decided to put my shares up for sale this morning.
Tufan, I look forward to your responses. I'm surprised that you're satisfied with the current standing of the company and what it has achieved to date given how much dilution there has been.
I'm not sure about you, but judging by what he said last night, things aren't even half way there in terms of a military contract, which is really all that's happening with the company considering there's an insignificant amount of money being produced from classes and I can't imagine DVDs bringing in a whole lot. More investment will have to be made, further dilution will occur, perhaps a reverse split later. To me it seems SMAS will have to dig itself in deeper before it can even think about coming out of the hole it dug itself into and that may very well take a few years. JMHO
relaxed if you go back and listen to Conference Call 1 and 2 you will understand why people are thinking this way. It was more of the same stuff...promises that in the near future we will do this and that and nothing happens. Deadlines come and go. Promises of new and exciting news which never comes out. Promises of buy-backs, but dilution far exceeds any buy backs. Promises of audits and financials that never happened.
As it stands, shareholders have nothing to go by except his word that the company is progressing. There's no evidence of anything happening. Sure we were represented at Battlefield Healthcare conference but anyone willing to pay them can represent themselves at the conference. Even the classes where people learn Somatics, they have such a low turn out. When people do sign up, so many of them drop out. There is very little interest and even those that were planning to be future practitioners drop the idea.
Like I've said in the past, shareholders can have faith, but only for so long. CEO needs to show something...in this case specifically, numbers to back up the claim of the company's worth and numbers that show how the money was used. The progress didn't justify the amount of money spent already. We don't even have a DVD finalized yet and that project started a WHILE ago.
I've put mine up for sale as well. I've been a supporter but can't do it anymore. I can't look at a donkey and have Steve tell me that it's a horse when I can see with my own eyes that it's infact a donkey.
given that it's a great product, I wonder if together we can buy majority stock and take over the company and form a new board consisting of big shareholders and some practitioners.
Yea I've got mine up too...that's the problem. Too many sellers and no one will buy. Especially not at 0.0001
so we're stuck. Let's hope that his auditing process is complete soon (I think he said End of Q1 or beginning of Q2). I'm expecting it to be complete End of Q4 or beginning of Q1 in 2010. We may be able to sell then.
Why is it that he couldn't release names of auditors again? I think he's trying to do too many things at the same time. My mother once told me to never put my feet in 2 different boats. May be that advice needs to be given to Steve.
Thanks Rick. Good luck to you as well. It was nice having you as an assistant mod.
I realized last night that a lot of questions we put up were not even discussed including
unprofessional method of handeling the sponsorship of battlefield health care because shareholders had to intervene
questions related to financers
advisors advising against releasing news
advertising being paid for by shares
Regardless, the CC definitely wasn't what people were hoping for. Even the longs here that were hoping for some "exciting news" saw that it was more of the same information as previous two calls. Promises of things in the "near future" and if he tries to put a date to the near future, there's no guarantees and infact, more than likely he will miss them.
With the amount of money raised in the past few yrs, I would have thought he'd be much further along with getting the name out, establishing the centres or things with the military. Truth is, the DVD isn't even complete yet. How much additional money is it going to take when things actually start moving? R/S may not be planned at this time...but it's certainly coming.
Congrats to all the bashers....you were correct about this. Now I wanna see how many people put their shares up for sale this morning.
Neither am I ..but what choice do I have at this point without losing money? I just won't be spending as much time on this board nor will I recommend this stock.
I don't know what happened to all the "exciting news that they just can't release yet".
All in all, what I got out of it is "we're a small company, we have high hopes for a lot of things and a lot of possibilities and we do throw numbers and dates out there, but don't hold us to them. Here are some more dates I'm throwing out there, but again, they could take twice as much time or 3 times as much time....who knows...so get off my back already and just trust me".
The one person whose opinion of the CC I want to hear is Tufan.
yes...go back to CC 1... Same thing...at that time it was end of year 2008 and then end of Q1 . Judging by where things are with the military and the way he described it, he's got a loong way to go. Battlefield was a place to start getting the name out...it will take time to build it into a brand name that's recognizable.
Reality just hit. There's nothing new to report at this time. They have a lot of relationship building and contact building to do to get established and rolling. There is no big news right now and probably shouldn't expect for a few years.
The big bang effect as he referred to last CC which was supposed to happen end of Q1 will happen end of Q1 ..but not in 2009
There may be long term growth here...but I really don't think anything big is going to happen for another 2-3 years atleast. The big news we were all expecting won't happen this week, next week, this quarter or next. Hold till 2012 and hope for the best.
This is sounding the same as other calls. More promises for a bright future.
The goal is to do everything shareholders are asking him to do???? Excuse me, but shareholders are only asking for what you yourself promised.
I can see why there's so few people on this call
In Steve's own words there are thousands of shareholders. You'd think that's enough "umph"? I can't protest without people..but there already are enough people. :)
I think there are some legal issues with releasing news during a conference call. So if there's anything, it should technically be released by EOD.
Judging by the timing of his past PRs, they're usually released first thing in the morning. That combined with the fact that we have next to no volume today leads me to believe that there's nothing coming EOD either.
Exactly. That's why I'm not telling anyone to attend this CC or recommending this stock. If I continued to recommend this stock despite what I've seen in the past 2 years, I'd be no different than Steve.
I have recommended the stock in the past to some people, and had wrongfully done so and apologized for it. Steve may have a passion for this, but a company and it's stock price is driven by a lot more than just passion.
I'm a bit concerned at this point. No news today...and that means there's nothing new to discuss during CC. May be we'll hear something EOD.
Looking for some news this morning