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Personally, I think they are operating in negative capital area as in no assets, behind on payments to creditors, vendors, etc...but this is strictly my personal opinion and I have no evidence of such because they refuse to provide any financial status reports with the SEC.
Wonder if some shorts are covering today
https://www.otciq.com/otciq/ajax/showFinancialReportById.pdf?id=34079
Yes, it appears they do have some legal counsel most likely on retainer but no "in house" legal counsel in my opinion.
Also looks like other person(s) have tried previously to get Lyric to disclose more information to investors and Lyric used its legal counsel to respond. I wonder how much or our shareholder money is paying for their retained counsel to keep the records sealed and away from shareholders.
Isn't there someone else we all know who sealed his records so no one could find out anything. Rather unpopular guy right now but always in the news whose approval rating is dropping as fast as Lyrics PPS?
Excellent answer Mac, I respect your opinion although I disagree with portions of it as noted in my prior posts. I think the PPS is slowly revealing the true picture here also.
But why do you think Lyric chooses to go this route? They know the investors are upset at it and confidence in the company is decreasing because of it as evidenced by the PPS. What is your reasoning for Lyric to choose total silence and how does them benefit them? We already know if provides zero benefit to current or potential investors.
Nice to meet you, if you notice, the majority of my posts are responses to others posts rather then self initiated. I will continue to respond and express my opinion on this stock as I see fit but appreciate your polite effort to keep me from providing what I believe is important info to fellow and potential investors in this stock.
I hear ya and believe me with the amount of shares I own if it went to .10, you would hear me yell a mile away but I just don't see it at this point and the intentional lack of providing essential info to shareholders really makes it troublesome for me as you stated as well.
My bad, but if you guys do decide to make a trip please let me know. Would love to try and see what happens and take you guys to lunch
What financial numbers for Lyric are you referring to? If you have some current information about their finacials would you be so kind as to post it for everyone to see?
Why investors lack confidence n Lyric. This topic has been going back and forth for some weeks now since I started posting. I have been reading this board site since I fist bought shares about 6 months ago. I have explained how I feel the lack of SEC reporting and total lack of communication abut anything of importance with the company and the shareholders has helped me form my opinion among other reasons as well.
I invest in another pink sheet small company similar size to Lyric but different area. They have 16 employees and are trying to move up from the bottom just like Lyric. They do not post PR unless it is significant and important, no pump and dump fluff stuff from their PR. They post regular quarterly earnings reports with the SEC even though they are not required to do so. These reports contain both positive and negative info about the company in fact they lean much more towards the negative side typically. They follow each report filing with the SEC with a CC in which you get to call in and ask questions directly to the BOD members who will address and and answer your concerns to the best of their ability. Obviously certain info needs to remain confidential per SEC guidelines but everything else they will do their best to answer for you over the phone while all the shareholders listen in. They even make a copy of the CC available on their website later so you can go back and listen to it again if you missed the chance on the phone with them. They have an IR person you can call or email directly and get a prompt response. She will talk to you for an hour on the phone about your concerns and the company within the SEC rules of course for info that can be discussed publicly.
Now compare this to what Lyric is doing and ask yourself which company you would feel more confident with your investment. One which is open, transparent and has continual communication with its investors to keep them up to date with current and factual information or a company which voluntarily elects not to make any SEC reports or have any shareholder contact at all?
It is not difficult to see what the better option is. Now you have to ask yourself why has Lyric chosen this route which appears to have hurt investor confidence big time? I have already stated my reasons previously why I feel they chose the route they chose but it was strictly my personal opinion. You need to ask yourself the same questions and form your own opinions without looking at the pretty pictures and all the fluff surrounding the company and come to your own conclusions.
I wish everyone the best of luck of any and all of their investments.
290% increase from 2 weeks prior. Are you able to read and comprehend what you are looking at? This is not a popular stock with all kinds of volume and people buying, selling or trading it. There was a 290% in short volume over that 2 week period. Match it also with the big jump back in May and look at the percentage increase in short volume after the pump and dump.
Did you notice the significant increase in short volume starting in mid October? The smart investors knew that when Lyric failed to SEC report, investor confidence would dwindle and the PPS would fall and it has done just that. They made good moves by shorting the stock. I have never shorted a stock before and just don't like that approach personally.
I am an hour away from the Cory address. I see no reason to go to the old rented house based on my findings about the company thus far. Would get no info and not speak with anyone in management.
I totally agree with you and the only conclusion that I can make that makes any sense to me is that the info they would have to put forth is not good, negative operating capital, increased expenses, lack of sales, etc....etc..etc... They would have to put out honest accurate info and if that info is bad and they have the option of not telling anyone about it then why put it out there for the world to see. They are using the system to their advantage and disregarding the shareholders 100%.
Well, believe me, I truly want every investor here to make a ton of money but I am a realist. I don't believe in covering up or diverting attention away from the truth. I would rather just hear the cold, hard facts be they good or bad but give it to me straight, direct and honestly.
Even though some of us are debating issues on here on opposite sides, I do respect everyones opinion. I just don't agree with everyones opinion all the time.
Please try and actually answer the question - What benefit did Lyric get by non reporting? Don't just say they are not required to like you did for the 1000 time. Lots of pinks are not required but still do so. Why did they choose to non report? What is their reason for choosing this route? I am quite sure they are aware of their investors concerns over this so this must have a really good reason for doing it and you seem to know everything about Lyrics business model so tell us why?
Don't dance around the answer give us a direct and honest answer or your honest opinion.
Hard to get the truth from a non reporting company that refuses to have any direct dialog with its shareholders. To me, that indicates a problem that they do not wish to make public but that is just my own opinion.
I am not bashing, just expressing my own opinion based on events that have taken place both past and present and information that I have obtained through DD. I have a negative opinion about this company and its likely future growth and I own a lot of shares so I made my own bad choice some months back. Now I am hoping to be able to salvage what I can and get out and wish all of the Lyric LONGS best of luck. Once I am out of this stock, I will not be posting anything about the company positive or negative again. Just move on and try my luck elsewhere.
The problem with this site is they do not like any negative comments posted about the stock and that is unwise and unfair to current and possible future investors. They seem to have some desire to change that format a little. I noticed the webpage itself has been modified to make it very clear the anger shareholders have over the non reporting and lack of communication from the company. I am guessing those are Rustlers add ons as a moderator and he is 100% correct in putting the comments on the IHUB page for people to read.
I honestly hope everyone that truly believes in this company makes a fortune someday. I don't think it will happen but I wish no one here bad luck or losing money cmon, take your chance and hope for the best. I just see the cup as half empty with Lyric and you and a few others see it as half full.
Mak, as thanksgiving gets closer and the shopping season kicks into full gear, I am quite sure there will be fluffy PR put out which may attract unknowing investors and/or traders and the PPS will rise hopefully to a penny or two. Then you need to decide what your direction will be at that point.
Look at the major increase in short volume starting back on 10/14 also. I have never shorted a stock but those were wise investors who knew that Lyric killed investor confidence by not reporting to the SEC and they made money as the PPS fell.
Don't worry, it is great company with great leadership. Their short, mid and long term business model is perfect. You made a great investment here stick with it, it has only been how many years now since the company started and the PPS is .0053.
Your comments have been forwarded to legal counsel. Thank you for your concern. In the meantime, we encourage you to visit retailers that currently carry Lyric products including Nordstrom, Hard Rock Shops, Walmart and Claire’s.
HERE IS MY LATEST EMAIL RESPONSE FROM LYRIC. NOT VERY FRIENDLY WITH ME THIS TIME. NO DEAR ****** AND THANK YOU SO MUCH FOR YOUR SUPPORT.... FUNNY, I READ ON A SITE EARLIER THAT THEY DO NOT HAVE LEGAL COUNSEL CURRENTLY SO MAYBE WE ARE STARTING TO GET SOMEWHERE HERE. OH YES, IT WAS ON LYRICS OWN LINK FROM THIS WEBPAGE
http://www.otcmarkets.com/stock/LYJN/company-info
NO LEGAL COUNSEL AVAILABLE, GUESS THAT NEEDS TO BE UPDATED ALSO
If it is in fact the same individual, to me it speaks volumes about the persons character. Granted maybe that person changed over the years and improved his character, I don't know but I know if someone making a 6 figure income can not even manage their own bills and defaults on 7 loans well that about says all I need to hear right there about them managing a company I am invested in substantially.
If you are referring to me, do you honestly think one person on a small board site can have a significant effect on a stocks PPS? Not a chance, the downhill slide started when they failed to report timely and accurate SEC report. That killed investor confidence in my opinion, especially when you combine it with all the other suspicious silence from the company and disrespect and refusal to have any contact with its shareholders. Lyric is its own worst enemy right now and the PPS is evidence of that. They can not expect people to continue to trust and invest in their future when they treat shareholders like they do.
It's true, I would like to average down because I believe a fluffy pump and dump is coming on during the shopping season here and it may get back to a penny or two so maybe I can salvage some of my substantial investment and get out with a moderate instead of a major losses.
Thank you I have read his bio, so he is the one named in that appellate suit who defaulted creditors on 7 different loans while he was earning 145K a year. He couldn't pay his bills with a 6 figure income? If he can't manage his personal affairs does anyone have confidence in him managing a company they have invested in?
Just answer one question please honestly.
What benefit is it to Lyric Inc not to post timely and accurate financial SEC reports so as to keep its shareholders current and confident in their investment?
My answer to this question is simple. The info they would have to report is so bad and the company is in such disorganization with no short, mid or long term goals specified, operating with negative capital, limited sales, possible default, etc....etc....etc... that they don't want the few investors they have left to try and get out. They are choosing the lesser of two evils by not reporting and trying to keep the fluff pump going for as long as the ride will run.
Please don't give a lame answer like they are not required to report to the SEC put some substance in it and explain why they are benefiting from withholding important info from shareholders.
http://law.justia.com/cases/federal/appellate-courts/F3/206/1063/598045/
Is this the same Ronny Halperin that is on the BOD of Lyric? Has he been defaulting on loans and ripping off creditors since the early 1990's OMG, the picture is becoming clearer and clearer about what is going on with this stock.
Agreed, just would like it to hit .003 so I could average down a little more and get out with a moderate instead of total loss on the stock. They are going to fluff PR it and pump it during the holiday shopping season hopefully back to a penny.
Thank you Mac but it is more involved then that. I realize it is a futile attempt to try and get any REAL accurate and current info from Lyric based on their pattern and history. My broker has very good contacts in good places and will do significant research into this company for me and advise me of the findings.
In the event that there is something fraudulent going on behind the scenes (pure speculation on my part) I want to make sure that I have covered all my bases and made repeated attempts to speak with the company about my investment and they were non responsive while continuing to operate illegally and/or in violation of SEC guidelines. This will establish my due dilligence effort in case I need to proceed with a civil action at some point in time.
I have no factual evidence that Lyric is doing anything illegal but circumstantially things appear very suspicious to me in my own personal opinion which is why I am taking steps to insure my investment in case I need to bring forth a civil action at some point. I will retain their non responsive e-mails and my attempts to speak with management via phone just in case.
This is strictly my own personal opinion and being done for my protecting my investment. I truly hope everything is being done correctly behind the scenes and that Lyric grows more and more each day. I doubt this will occur but I do not like to see people lose money (myself included).
Investor Relations,
Please also review my questions where I ask about annual shareholder meetings and CC's with the BOD. I would like to know when the last annual shareholder meeting or CC with the BOD took place with Lyric? I find no record of any. So exactly do you address all shareholders in a public forum where they can cask questions of management about their investment in the company?
Also, I have no desire to be on your e-mail list so please do not include me on it. I prefer to get accurate info from SEC filings. I am going to have my broker do some significant research on Lyric Inc for me and its two current board members. I want to make sure I have all available info on your company and the owner in case I need to move forward with filing a complaint with the SEC. To many ponzi schemes going at this level and I want to make sure nothing fraudulent is occurring with my investment and the lack of cooperation and/or contact with Lyric and its investors is very troubling and suspicious to me. Please review my first e-mail and respond properly.
I appreciate your assistance in resolving my concerns.
FOLLOW UP EMAIL I SENT THEM
http://www.sec.gov/investor/pubs/microcapstock.htm
Here is my next step and good reading for everyone
Investor Relations,
Thank you for the quick but incorrect response. I am a shareholder in another public penney stock and I frequently call and speak or e-mail their IR person on a regular basis. She talks on the phone for an hour with me about the company and its business model and current status. Everything that she is legally allowed to discuss per SEC guidelines, we talk about on the phone or via e-mail. There is no SEC guideline which restricts a company IR person(s) from discussing public info about the company individually or in a group setting with shareholders. That is Lyrics personal choice not to have contact with its investors and I am trying to understand why you are choosing this route.
As a publicly traded company shareholders are entitled to certain information from the company and that it be made accessible and available to them so that they can feel confident in their investment. I suggest you review the content of my initial e-mail again and address a proper response and answer the questions that I have put forth. If I do not receive a proper response then I will be filing a formal complaint with the SEC against Lyric Inc. for your complete disregard and secrecy from your shareholders.
Sincerely,
Thank you so much for your inquiry and support of Lyric Jeans, Inc. We appreciate your feedback and will review it accordingly.
As a publicly traded company we are not legally allowed to address individual inquiries with information that is not accessible to all shareholders. Any shareholder that contacts any publicly traded company will unlikely be able to speak with management directly. It is the company’s policy to address all shareholders and potential shareholders equally and only in a public forum. Please refer to the press section of our site and Yahoo Finance for the most recent news and media coverage. We appreciate your support and will provide you with shareholder information as it becomes available for release to the public. We will also add your email address to our mailing list so you will be informed of all company activity. Thank you again and please be advised that you will be informed of news at the same time as all of the other shareholders.
Sincerely,
Investor Relations
WHAT IS DEPICTED IS THE RESPONSE THAT I GOT FROM MY EMAIL TO LYRIC AND THEN MY FOLLOW UP EMAIL BACK THEM AGAIN
I totally agree with you and take a look at the email I just sent to them in my post.
Lyric Jeans Inc
Attention Investor Relations:
Greetings,
I am a share holder in your company and currently own a substantial amount of shares. I have made several attempts to contact Investor Relations and/or management by phone with negative results. I have left phone messages with "Abby" but my calls are not returned. As a share holder (partial owner) in your publicly traded company, I have some concerns that I would like addressed and answered. All of the questions that I am going to ask would be information that is and should be publicly and easily available to any current or potential investor in your company and I am not asking for any type of inside information that is to remain confidential per SEC guidelines.
1. I would like to know why Lyric chose not to file a recent accurate financial report with the SEC for this past quarter? I understand this is optional for your company to do so but not doing so has decreased investor confidence in my opinion as evidenced by your current declining PPS.
2. What is the current financial status of the company? Are you operating in a positive or negative capital status? Are you in default or behind on payments to creditors or outsourced vendors?
3. How are sales doing in the different venues and variety of products? Are you seeing strong or weak sales? If the sales are strong then why is there no positive PR being generated from the company at all?
4. Why has Lyric never had an annual share holder meeting and why have you chosen never to have type of conference call set up where investors could ask questions in a group setting and get get current and accurate information about the company from the Board of Directors?
5. Why does it appear that Lyric wants absolutely no contact with its investors either individually or in a group setting? This is evidenced by the lack of communication provided by Lyric to its investors coupled with the fact that no one from management will speak with an investor on the phone and e-mail responses that I have viewed have been nothing more then generically generated off topic and lack of accurate answers. Basically, why all the secrecy from the company and lack of respect for its share holders?
I appreciate your time in reviewing my questions and concerns and hope that you will take a few minutes and provide accurate detailed answers to my questions. I will share the information you provide with other current share holders via internet Lyric board sites. I am quite sure they are as anxious as I am to know how the company is doing and ensuring our investment is heading in the right direction.
Sincerely,
Anyone want to take bets on whether or not I get an honest reply to my email?
Agreed, investor confidence is zero right now when you have a company that refuses to provide essential info or even contact with its share holders. Highly suspicious and really makes me think some back door scam is taking place but that is only my personal opinion based on Lyric lack of respect for its share holders.
True, I could see that also but there is no way you know what their financial status is so BK could be a possibility as well. I wonder if the the 2 persons on the BOD are dumping right now or have been for quite sometime?
Never know what is going on behind the scenes. They may be in default in a variety of areas maybe they haven't paid the rent on the party house either, oopps I mean corporate HQ. We just dont know so any revenue that is coming in that should be used for expenses for the business may just be going into certain accounts and then you get a BK filing. We just don't know and this is only my personal speculation and opinion. I would try and call them and get some info but well, you know how that goes.
Personally, I think their reason for non reporting is because the info they would have to disclose would be so bad and negative that it would have killed off the company completely. Right now they still have the fluff and pretty picture thing going and I am sure some more suckers will be duped into buying in at .005 without doing thorough DD (myself included) but then after awhile they will realize much like the longer holding share holders that this company is crap in my opinion.
They lost all investor confidence by non reporting but reporting really bad news would have been even worse for their position so they chose the lesser of two evils to try and keep the scam going a little longer in my opinion.
.004 may be good but I am thinking in 2 weeks, we are in the .003 range and thats where I am going to average down and try and salvage a portion of my investment in this ridiculous company. They will put out a nice fluffy PR during and/or after the holiday shopping season and may get it back to a penney. Then run for the hills and don't ever come back again.