Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
There is no bottom. This company should not be allowed to list on any exchange, based on the historical fact that it's sole purpose is to steal from common shareholders. Do some DD before you make a speculative buy. The CEO of Seven Arts took the OS from 11 million to >160 million in less than a year (2011-2012) and then did a huge Reverse Split (for NO reason. There was no chance it would stay listed on Nasdaq so I can only assume the decision was made to shaft common shareholders AGAIN.) The RS brought the OS to just under 2 million a little over a month ago, and since then, >8 million shares more have been added. He's hiding the company "his" assets in subsidiaries and property and paying for it all through shady credit deals/massive convertibles putting the debt into the hands of common shareholders.
I'm not here to bash, only recommend investors do their DD to see the legal fraud and manipulation of this company and it's equities.
I have personally never seen such a rigged POS in my life.
Happy trading :)
Maybe we didn't know how to use Quicken. Yeah that could be it. LOL
Yes take precautions. Overly saturated soil + strong sustained non-prevailing winds = Trees Down = Powerlines Down = no power. Be Safe.
lol its like a movie: BASED on real events: nothing like real events. It even has a memorable company logo and name to suck in ignorant people. The whole company resembles a "false front." IMO Great writers here, probably scripted the company just like a movie. The point of movies is to mislead people from the dull drums of reality, but taking that philosophy to a real world setting is ethically wrong and overwhelming misleading. People, if you invest here, it's akin to buying a ticket to see a movie. You leave with nothing but the experience, and unfortunately, this is a horror flick.
No idea: I'm just a college student who's blown away by the lack of ethics in the business world, not an analyst.
CEO Peter Hoffman: Remember when a few months ago he was issuing PRs and doing interviews attempting to persuade investors to buy common shares of his company, and then proceeded to dilute said shares into the ground by issuing massive convertible preferreds with insane terms to questionable creditors? lol. Whether or not its criminal by definition of law, it's obvious theft of assets through manipulation by concept.
criminal charges; not civil
The sad fact is, the CEO is a lawyer. I'm sure he's pre-planned for any potential legal action brought against him. I think it's obvious to everyone, (public/regulatory) that this entire operation is a giant fraud which does not operate to the objectives set forth in it's "business plan," nor to any degree described in it's financial statements (All in my subjective opinion). The problem is, it would take ALOT of time, energy, and resources to investigate this company and develop a case against said company and especially it's management. In my humble opinion, no charges will ever be brought and business will be ongoing per-usual. Although, this could ALL change if a group of people for whatever reason had a desire to commit their time, energy, and resources to the case, like say, students of law/accounting/finance.
I have debated with myself as to whether the company is actually doing it's best and has simply suffered bad luck/bad management decisions/bad business plan, but this doesn't seem possible or plausible. I don't think anyone, especially an educated lawyer with years of experience in this specific business sector could be that ignorant. There are ways of financing operations which do not involve putting all the liability on common shareholders.
Agree. This company is a joke. Look over my past posts and see I invested awhile ago based on technicals, which meant nothing due to the overwhelming insolvency and mismanagement. Did not do my proper DD and suffered a small loss.
The company is worth squat due to massive loans from 3rd parties being paid in shares which are then pumped and sold (just look @ the chart.) There is almost no way to play this to the upside.
These loans paid for the new LA property, and lifestyle/living expenses of management I can only assume. The money is not being used to generate revenue, only increase the value of the CEO's seemingly personal assets. (I say this because he doesn't follow GAAP- Entity Assumption in any way. He acts as though the assets are HIS with complete control, and an annual salary almost worth more than the market cap itself.)
The whole concept of this business is not making movies or music: it's to borrow money from friends to purchase stuff- and pay off debt by issuing worthless shares of the company's stock which are then pumped and sold.
The whole operation only works for 2 parties- The company, and the creditor. Oh, and maybe the people intelligent enough to see what's happening here and short the stock. (all that "naked shorting?") People must have been lining up out the doors to short this POS.
Anyway, just a friendly reminder about my experience with the company, and why you should do 5 min of DD to see what is truly going on here. This is not an Entertainment company, it's a money transfer operation (from creditors to PH):(from Common shareholders to Creditors).
Message to all: As I said, I am an accounting major at the State University of New York. Myself and a few other students/colleagues are studying forensic accounting/control policies/regulation and have decided to use Seven Arts Entertainment as a Case Study due to its overwhelming failure as a listed security, and it's impact on the common investor. We are comparing it's financial statements and business activity to the principals established by the FASB and IASB, and relaying our findings to both organizations, along with additional questions and concerns as they arise.
If you would like to be a part of this case study, email us at sapxdd@yahoo.com with any questions and/or pertinent information you would like to share. Thank you!
I agree: Warning to all potential investors= do your DD to see zero value being created by management for common investors, only company/ preferred lenders by shady accounting.
lol these type of POS are everywhere, but SAPX in particular just blows everything else I've seen away in terms of corruption.
It's even harder to believe this was at $1000/share 2 years ago.
Looks and acts like a shell company who's only objective is to steal money from common shareholders and funnel it into CEO salaries, paying friends who "loan" the company money, and property.
If anyone else wants to compare/collect information and take action simply shoot me a PM.
My friends/colleagues are all lawyers and accountants and we're playing a long game of connect the dots/ information search.
This isn't personal with me, luckily, but I'm still undecided in a career choice and forensic accounting/audit is top on the list.
I'm well aware of the use of Skype/ Twitter to communicate under the radar and have tangible evidence of users knowing when a creditor was about to dump and selling short previous to that. All kinds of illegal activity surrounding this POS lol what a circus show. #cementshoes
if all that plus more is in fact true, he will have charges brought against him, believe me.
In full disclosure
I'm still pretty new to this game, I will admit to you. I've only been studying accounting/finance for 5 years or so, with 2 years of applied real world experience.
One of the most surprising revelations for me entering the real world aspect was the abundance of white-collar crime. I wouldn't be surprised with a 10:1 ratio of white-collar vs. street crime. The intelligent criminals seem to have left the streets to work in an area completely shaded in grey, hard to police, and hard to detect and prove a law has been broken. I bet if the Feds took some of that defense spending and shifted it over to internal control of the markets they might be able to collect enough $$ to pay off the nation's deficit. Maybe even stabilize the markets?
I'm enjoying my experience in participating with and observing this company (Seven Arts.) I'm currently attending a class @ University which involves fraud/audits/internal control/regulation, so I get to view all of this from a multidimensional perspective, and share what I'm learning with other students in real-time. We are all learning, LIVE.
Eye opening. There are so many ways to play a hand, when there should only be many..
I agree. I believe public companies that wish to remain compliant with GAAP or IASB are supposed to rely on the Separate Entity assumption. This guy breaks all the rules, without breaking them: he's a lawyer.
I would hope he isn't "destroying lives" as that would mean the individual had invested his/her life savings, or a substantial % of his/her net worth in a penny stock, which in and of itself is just plain stupid. The problem I have with Mr. Hoffman's business practice is that he doesn't grow revenue by creating a product that people are willing to buy, he does it by "outsmarting" people, which is basically taking advantage of his position vs theirs. That's the only true "evil" in this world. I wrote Kate an email explaining this concept to which she did not reply back. One of the major differences between our species, and all the other animals on earth is that we have the capacity to feel what others feel, and think how others think. We can "place ourselves" in other peoples bodies/minds in order to copy and perfect. No other animal can do this, besides some of the more developed primates. This capacity allows us to understand the needs of others and provide for them, but it also allows us to, either due to intelligence, or position of power, understand how others think; in order to take advantage of them. I have no problem with either side, and I understand that all businesses operate with some form of ERM, it's competition. My problem is that Mr. Hoffman doesn't create anything tangible that people actually appreciate, like say Apple. He isn't changing the world. All he is doing is running a business, to outsmart less intelligent/ less powerful people, without providing anything good in return.
The sham only lasts for so long, until you piss off the wrong person with the right connections..
Looks to me like 2 board members feel Mr. Hoffman is not in compliance with any of the internal control/audit procedures required by the Sarbanes Oxley Act, which was created to protect investors and creditors...makes sense. This guy is running a circus, not a business. The largest number on the Income Statement is "Interest Expense," lol! What a sham, this guy does belong locked up and should never be able to sit on a board or play any form of management role in any business. Internal Controls are put in place to prevent white-collar crime as it appears this guy makes a living off of (like so many others.) Hey Peter, just because you aren't savvy/ intelligent enough to create a product that people desire does not mean you should use your knowledge of law to STEAL from others. I don't necessarily believe in good/evil, but I do believe that if you can't connect with others, you manipulate them to get your way. These people are the reason we need laws in the first place, f-in monkeys with no morals or sense of justice.
I take full responsibility for this (paper) loss. After I write a very serious letter to my congressman, and federal regulators asking to audit and review Mr. Hoffman's business practice, I won't give any more thought to this scumbag.
no meeting
yes news going
1. I was too
2. I agree
only reliable source out there, contacting the TA
fyi SS
Authorized- 35,667,839
I/O 3,385,828
Free- 2,712,796
*as of 9/21/2012
caveat venditor
SAPX- 2 days listed- 189,870 shares naked short
rs/ relist amex cometh
? for DMX
Why would you not produce the isht out of this stage in the business cycle? Film everything, and create a "documentary" depicting what it's like to achieve success in the hip-hop world, go to jail, endure drug problems, lose loved ones: and yet still give everything you've got to the game, the grind. His music is all about learning lessons from set-backs and growing stronger, why not make a documentary/motivational/hip-hop themed production and release it over the net/itunes/ect? There are so many opportunities gone wasted. If the guy simply surrounded himself with a team of young creative visionaries, he could be producing so much awesome content:stay relevant: make $: AND help other people in their own personal life struggles. It's literally as easy as having a camera around at all times, and then producing the content. The expenses for something like that could literally be less than 1k. It doesn't take a lot of $ to create quality these days, and if you think it does and you pay: you've been played. That is all. Continue trading!
BATS ARCA EDGX are the player(s).
lunch break
if you spent 1/2 as much time explaining all of this to a regulatory body (SEC,FINRA,LOCAL CONGRESSMAN)... you could have a 3" thick file ready to put in their hands... have you?
why not?
just to be safe, i'll c&p a bunch of your valuable info and fwd it to MY local congressman. We talk, maybe he can do something for ya! I've already had a few conversations with him concerning securities fraud and manipulation. Trust me, he sounded concerned (dont they all lol)
My original thought was:
1. Knowing that new shares would be available to purchase in the near future, on account of SAPX financing deals, an entity decided to sell fake shares short, knowing they would be able to cover lower.
2. Were they tipped off by the creditor?
That was my original hypothesis.
I'm not into conspiracy theories, just always have my eyes and ears open, and this looks like the perfect opportunity to make $ for multiple parties.
yeah c i'm sure it will
lol hope thats sarcasm
lucyyyyyy u got some splanin' to dooooooo
funny, i noticed s bunch of people using twitter under fake names talking in code about the exact same times.... coincidence?
That is incorrect.
READ THE FILINGS
The warrants will expire on the earlier of (i) the date that the holder disposes of the common stock in respect of which the warrant dividend was declared, if such disposition occurs on or before the close of the markets on October 31, 2012, OR (ii) 5:00 p.m., PST, on January 31, 2013. Seven Arts does not expect that a secondary market will develop for such warrants.
-http://www.marketwire.com/press-release/seven-arts-entertainment-confirms-1-70-reverse-stock-split-effective-opening-markets-nasdaq-sapx-1696976.htm
Unless you sell any of your pre-RS shares, the warrant to purchase future shares will not expire until the end of January, next year.
Just thought of this...
So SAPX was financed in the past by toxic financiers from what everyone is saying.
It's obvious this is likely one of the most hated stocks on the NASDAQ. How did it get that way? Yes, bad decisions by management had an impact. From what many say, a creditor is/was pissed with PH. If that were true, they did/do have lotsa' convertible shares to use at their discretion. Obviously the paid pump doesn't work to make $, why not try something different. Use the shares to dump relentlessly, all the while shorting (real or naked), and create a massive wave of negative sentiment and fear---------- (c-i-a.org) and make a profit that way $$$, guaranteed!
Just random thoughts...
I have no reason to believe any of that is true, just thought it would be nice to hear opinions..
ahhh okay so all the shares trading today are new-issue, or short provided by brokers? That's a good thing for the sake of the closing price today, to give longs a good price to use warrants.
All the while.... good news to follow once shares get sorted out?
DMX September 11
Neuromancer Casting
Financial report coming any day - already stated to disprove those betting against company by management.
The new shares issued have a LOCK-UP no? Any shares trading in the time-frame before that have already been PRE-issued no?
Any new shares issued have a lock-up period of like 6 months no?
So as per the Dividend- For every 10 shares held (pre-reverse split) holder is entitled to purchase 1 share of common stock @ market closing price EO today...