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Anyone know how insurance agencies recognize revenue?
Are revenues equal to the total premium dollars collected or are revenues gross commissions earned by the agency?
500K in premium dollars isn't in any way impressive but 500K in commissions earned for a 1 to 4 person operation probably makes for a decent living in South Carolina.
And the random capitalization of words in that PR ("Children" "Grandchildren") is an Ed Vakser trademark.
WELCOME BACK, EDDIE!
BEN: SUTI web site is mjvc.org
"Venture Capital Incorporation"
LOL.
Yes, some people get the Revenue/Profit thing confused. Numbers are hard.
I was following another SCAM a couple of years back where the "company" was supposed to get some sort of toxic financing. Some goofball shareholder decided that the loan amount should be counted as revenue. He then picked an arbitrary multiplier and professed that the company was worth a bazillion dollars based on the "revenue" that was, in actuality, a loan.
The loan never came through, BTW.
That company is at no bid just like SUTI. Hard to fathom.
Bernie Madoff met with his clients all the time.
He was especially cordial to prospective NEW investors who had money that needed to grow consistently and safely.
Bernie had nice offices in a Class A Manhattan office building.
Kent can only dream of reaching that level.
I'm bringing the kiddies to Kent's house for some major league Trick or Treating. If each little one gets a $ 50 dropped into their goody bag then I might just believe that Kent really is the magnanimous individual that he's been made out to be.
If we walk away with "FUN SIZE" Kit Kats or a bag of that cr*ppy candy corn in a little wax bag then I will have a lesser opinion of Uncle Kent/Kenneth.
Ben, I think you're trying to make sense out of the ramblings of Canna's biggest customer. Maybe there will be downstream profits for SUTI after all.
We know it as "MJVI" (the Incorporation...or so says the web site)
Absolutely not. Sounds like the setup to a great joke.
I'll work on it.
a recruiting station, a Mexican food restaurant, an AT&T center, and a Verizon in the same center. Is that a bad thing???
The missing piece to the puzzle is ownership of the building. It was stated by Kent that the building is being purchased for "cash" but unlike the $ 2.4 million software (plus residuals) that he apparently "donated" to the shareholders he hasn't said that the building was another sign of his largesse.
Kent may own the building either personally or through an entity of some sort. Looks like there is room for another lessee as well.
TDEY will be paying rent to Kent. Or maybe Kent will just waive the monthly rent because he likes helping PINKY shareholders.
Getting the kids ready to visit Kent's house on Halloween. Hoping for $ 20 bills handed out but will settle for FULL SIZE Snickers! ("Fun Size" my azz)
10am wine. That's the kind of party that Eddie loves.
I was being facetious, Carlson.
This is, and always has been, a 100% Eddie scam.
After the TD&Y story collapses perhaps the Eddie minions will make a return visit here to talk up the next CEO.
A poor soul on that "other" board is praying the POS will run so he can pay for cancer treatment. The cheer team would be happy to pick his pockets all the same.
Sad.
And his cocker spaniel gets a nice stipend as the company mascot: "Canna the Wonder Dog."
Milt, ASSuming that the Canna deal was reduced to writing (and not some verbal agreement that has since gone up in smoke) you can be sure that any 2% of profits will amount to ZERO.
Jorge will work with his friends at Canna to make sure that SUTI's revenue amounts to a big goose-egg.
And this after all that waiting for Canna to open. Such a shame.
I would be pleased to make a pledge to agree to negotiate for a memorandum of understanding to contribute 2% to a Jorge Defense Fund.
This posting contains forward looking statements that may be total lies.
Does this mean that the magical liability spin-off is canceled? I was really looking forward to that.
Prior PR signed by (ex) CEO Saenz
Accumulated Company Deficit: Management and I have been working diligently with our company accountant to substantially reduce our accumulated deficit on the books (as reflected in our quarterly filings). Our current plan in motion has allowed us to deplete a large portion of these liabilities. As previously mentioned in our June 4, 2015 and June 19, 2015 press releases, a spinoff of the company is in progress. Our private company is absorbing the majority of this deficit while our public trading company will retain the company assets with the benefit of a more tolerable overall liability amount. Although a reduction is anticipated to show in our upcoming 2nd quarter financials, the bulk of this reduction will be impacted in our 3rd quarter filing for 2015. I am quite pleased to report that management is estimating a total approximate 75% reduction of liabilities to be disclosed in our third quarter filing.
Jorge gives drug peddling a bad name.
I don't think so, but am willing to stand corrected.
Nothing was ever memorialized beyond a nonsense internet posting that I can recall seeing. Makes no difference, really. No one even knows what SUTI paid Canna for that 2%...whether it was for ownership or profits.
We do know that Jorge has Canna stocking his (privately owned) EcoVape products. Hopefully that's generating some nice revenue so he can pay his lawyers.
Canna deal is not 2% ownership. It's 2% of profits.
We all know what that means.
Jorge will be the DEFENDANT in civil lawsuits filed by multiple parties.
You can be sure that SUTI has no officer liability insurance to cover those legal expenses; Jorge will have to fend for Jorge.
No one should expect justice but perhaps those who lost money as a result of Jorge's misrepresentations will feel some solace knowing that Jorge will be shoveling money into the maws of lawyers.
Some other dude did it may keep Jorge out of jail, but it will be costly for him as the wheels of justice turn.
GOOD.
Jorge knew he was dealing with a criminal and Jorge knew he was dealing with someone who flim-flammed him three times on the "KOLBE ACQUISITION."
Each time Jorge allowed shareholders to be misled until finally Jorge felt that Eddie was stealing him him personally. THEN and only THEN did he speak up.
Any illusion that Jorge ever cared about anyone but himself is just that...an illusion.
I don't feel sorry for him. I hope he likes spending money on legal fees.
After Eddie lived up to every part of his prior agreements with Jorge it is indeed surprising that Eddie would fail to do so this time.
Above = sarcasm.
Jorge is no victim. He knew EXACTLY who he was doing business with. A pox upon both their houses.
My experience has been that illiterates generally don't negotiate good business deals.
Kent likely puts together deals as sloppily as he writes. He is an improvement over the pseudo English/Ukrainian writer Eddie the scammer, though.
That's what I'm saying.
GLTU.
Given the writings that were purportedly from Kent it wouldn't appear that expressing himself properly in English is one of his strengths. Maybe he does better with his "negotiating skills" using hand gestures.
And "irregardless" isn't a word in the English language.
Birds of a feather.
I'm hearing the song: Nearer, My God, to Thee
Something so earth shattering should be in a Wall Street Journal article.
Actually, KAM I've worked on SNA to TCP conversions. Well, actually SNA to TCP REPLACEMENTS which I suppose is a bit different.
SNA is/was an IBM specific proprietary communications protocol that was developed in the 1950s or 1960s. We used it through the 1980s at which point that IBM realized that SNA was a dead end. IBM systems have supported TCP for decades and no one uses SNA except to support legacy devices. I know of a few companies that use SNA to TCP conversion devices because they have expensive printers that only "talk" SNA.
Farmers made the switch from IBM proprietary SNA to the TCP open standard and they similarly moved from old fashioned AT&T phone technology to VoIP. Good for them. Kent was the paper pusher on that project. Good for him.
That's sorta true. And by the same token if Kent had Zurich sales agents switch from riding horses to using new-fangled automobiles for customer visits then he could claim that since 1902 he saved Zurich a billion dollars on the cost of hay and veterinary visits. Not to mention all the horse manure that didn't need to be picked up.
Those silly insurance companies that are still moving sales reps around by horse need Kent.
If it wasn't a press release then it was an internal newsletter for Farmers agents.
What is most certainly is NOT is a Wall Street Journal article.
Hint: Wall Street Journal articles don't have company contact names and phone numbers on them.
Go back to school.
I did just that and I see a WSJ article about Cisco that mentions Kent and Farmers.
I don't see anything (other than links back to iHub) that show the PRESS RELEASE that was purported to be a Wall Street Journal article.
The two are not the same.
Exactly my point, Brooks. The claim here is that the Zurich press release was printed in the Wall Street Journal.
My statement and the Zurich statement as a WSJ article are BOTH farces.
Wow...this was printed in today's Wall Street Journal.
/SMH
I WILL TELL YA THIS NEW MANAGEMENT IS DUmPING ON INVESTORS LIKE A MO FO....THIS IS CRAZY OVER 3 BILLION IN LAST 2 AND A HALF WEEKS wooooooooooooooooooooow....and look at the dumping today,,,, THIS IS F..... COMICAL....THIS IS A JOKE IMHO.....OVER 3 BILLLION SERVED CANT EVEN GET EVEN CLOSE TO GETTING OUT OF TRIPS COMICAL
If it was printed in the WSJ it was a paid ad.
What you are showing is clearly a company PRESS RELEASE.
Jeez.
Next topic for discussion: What is a Marijuana Capital Incorporation?
http://www.mjvc.org/
Wow...what a misrepresentation of facts.
The item posted is 15 year old PRESS RELEASE -- not a Wall Street Journal article.
The PRESS RELEASE has nothing to do with data sharing. It has to do with the company switching from old technology communication LINES such as private T1 to new internet of MPLS data services that are less expensive.
My grandma switched from Verizon at home to Magic Jack years ago and indeed she is saving money. Kent had some level of involvement in a similar project at Farmers.
Good for him.