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Does anyone know what is happening with this dog?
I have heard, from a friend who is in the Medicare HMO business, that these criminals have sold all of the remaining physician practices... some to the CEO's stepfather. They have been evicted from several offices, and have defaulted on many contracts.
What happened to the healthcare company? What happened to the coal mining company?
IMHO, they took investors money, and let the company tank.
Is there a class-action suit being brought, or a criminal investigation in the works???
Sequiam BioBox $167.95 on Sharper Image website!!! As one who unfortunately knows the clowns (N&M)at the train wreck FKA Sequiam, I must say that it warms my heart to have followed the recent news... however, I truly feel for the shareholders who were taken for a ride. Isn't it hysterical that Sharper Image is still selling Sequiam product??? I found it through a link on Sequiam's website! Who is paying the bill for hosting? Does anyone know what is happening to the furniture? I'd love to pick up some very expensive office furniture at auction!
Sequiam BioBox $167.95 on Sharper Image website!!! As one who unfortunately knows the clowns (N&M)at the train wreck FKA Sequiam, I must say that it warms my heart to have followed the recent news. Isn't it hysterical that Sharper Image is still selling Sequiam product??? I found it through a link on Sequiam's website!
Best of luck BMRX... but it won't be easy!
Ding dong, the witch is dead! They got the Wicked Witch of the East, now... for the Wicked Witch of the West!
I apologize to Sweed. My mistake. I thought your reply was private and I now see that is is public.
Sweed... In response to your private reply, I have heard of buying a good idea on momentum... but in this instance, where is the good idea? I don't see one.
So... essentially, B&D has to sell a shipload of a relatively expensive, albeit useful, gadget of limited appeal for SQUM to make anything of substance? Don't get me wrong, I intend to buy one... and I must say that I am very pleased that these guys will only see $.50 of my $200!
What will the next hobby be? Let's see... they've failed in sports, , printing, web development, travel (remember nra-travel.com?) and high-tech toys! What's next? I'm quite suprised that they never tried their hand at subprime mortgage lending! Maybe they will be in biofuel next! They could use their European connections to acquire land leases in The Netherlands where they could grow corn... Hmm... a biofuel company at $.05? Time to buy!!!
I have read through all of the filings and press releases since the reverse. They have had a scizophrenic business model over the years at best. They literally blew a small fortune on high-volume printing equipment in version 1. They were then a software development and Internet company. How these guys continued to finance their hobbies with investor cash is beyond me! I even read that they have a helipad at the office! WTF? They can't make a small debt payment, but are flying helicopters on investors money???? Where can I get a job like that? Then again... even though it would be fun, I don't look good in stripes and wouldn't enjoy the food at the institution where Nick and co. should wind up.
I only hope that truth of the whole story comes to light when the house of cards finishes crumbling.
No... it looks like the IR pump and dumpers AND the others wanted to get out. This company should be under SEC investigation... if they aren't already. Read up on the health care deal, folks. Matching metal bracelets and complimentary overnight accomodations for a stretch should be next for this group! A pump and dump to help rescue Mommie's tanking company! Puleeeeeze! Of course, this is only in my humble opinion!
Sweed... where is your disclosure as to how much you were paid to pump this in the first place?
A question for those who have been following this company:
Didn't Nick orchestrate a buyout of Biometrics investors last August?
Sequiam Corporation Founder and CEO acquires Sequiam.s lender, Biometrics Investors LLC and announces accelerated corporate growth plan.
16 August 2007
ORLANDO, FL -- Sequiam Corporation (OTCBB: SQUM), a leading provider of innovative consumer lifestyle biometric technologies and services, announced today that its Founder, Chief Executive Officer and Chairman of the Board, Nick VandenBrekel, purchased 100% of Biometrics Investors LLC in accordance with the June 20, 2007 agreement between himself and Biometrics Investors LLC. The transaction closed on August 15, 2007. Subsequent to the purchase by Mr. VandenBrekel, he sold the interest to an unrelated third party.
As a result of this transaction the previously announced default called by Biometrics Investors LLC has been cured. After Mr. VandenBrekel's purchase of Biometrics Investors LLC, the loan agreement has been modified to make the loan interest free. The Term Loan ‘A' has been fully funded.
Why then is this issue now happening?
Also... with all of the hype around the B&D contract, does anyone know what the per unit royalty to SQUM is? It must be very little, based upon the revenue I see reported!
I used to be familiar with this company, 3 or 4 of Nick's brainstorms ago when the company was a printing company... then a printing software company... then a web development company and ISP... then a sports marketing company! Not necessarily in that order... but you get the idea!
Also, tomorrow is the expiration of the grace period for the late Q filing. Will they make it in time? Stay tuned, boys and girls! Same scam place, same scam time!
They're probably late because it just isn't as easy to buy an auditor as it used to be! lol!
What is happening here is the classic, picture-perfect backside of a pump and dump! They moved 351,000 shares at $2.50 - $2.85 with massive investor relations campaign... and now the IR stops and there's no buying. Kind of like musical chairs. I wonder when the SEC enforcement will begin. Complaints must be flooding in.
Oh yea... they're also probably letting the prics free fall so that when they price the deal to acquire the CEO's Mommie's very troubled company (looks like $15,000,000 in stock up front for a flea infested dog), they can transfer a huge amount of shares! Nothing like keeping it all in the family!
Do you think the Feds will let them do their time together? Probably not... Mom's charges will probably include many, many counts of Medicare fraud. Her trial will take longer!
Again... all of the above is IMHO.
Are you directing the "read the TOS" comment at me? If so, could you be more specific? BTW, It wasn't a 10Q that was late, it was the 10K.
Where are you now DarthTrader and QualityStocks? This company's much hyped acquisition, Medical Resources, is screwed. After losing 100% of their revenues due to the demise of America's Health Choice, they went and contracted with Wellcare (WCG)for the majority of their business. Wednesday, Wellcare's offices in Tampa were raided by over 200 FBI, OIG and state fraud agents. It's stock has plumetted from $115 per share to around $32 as I type. I have also read that the government's investigation could spread out to entities contracted to Wellcare to provide care. Could there be another multi-agency raid on Medical Resource's offices coming? Stay tuned! Oh yea... they still can't seem to get their 10k done. Is delisting next?
Picked up the big "E"!!! It must be difficult to find a crooked auditor, thank god!
Off 15.14% at $1.85. Where's the 10K? More likely to see a 52 week low than high, IMHO. Can anyone explain the 850,000+ shares traded Friday?
Has IWWI even completed this acquisition? If so, shareholders should be irate!!! Look at the history...
If not, it is probably because it's difficult to find an auditor who would sign off on anything remotely positive about this deal.
It would help to have press releases written in understandable English, for starters!
This isn't news... but a continuation of a Federal mandate issued by Medicare upon the revocation of America's Health Choice's license!
And what was going on Friday??? Over 850,000 shares??? Already down over 10% today... on only 4,000 shares! I would guess that the bottom will fall out of this today... and Friday's buyers will be calling the SEC.
Perhaps The SEC enforcement folks will join with rhe investigators from CMS, DOH, OIG and the rest of the alphabet soup of governmental agencies that have the principals of this "company" not only blipping brightly on their radar, but under active investigation.
Well done IWWI!
Strictly in my humble opinion, of course.
Expoldes? Last I looked, it was unchanged.
Volume has exploded... I guess the spam emails are good for something.
QualityStocks, perhaps you could be so kind as to disclose your position in this stock? Disclosure of compensation would be nice too.
Disclosure: I own no interest in this company whatsoever. Never have... never would.
I just can't wait to see the 10K... if it is ever released to the public.
Looking good? How can this company look good?
They have no assets to speak of, no revenue to speak of... and they're acquiring a VERY troubled healthcare company! By troubled, I mean that the company's sister company (America's Health Choice, Inc.), under the same ownership, recently had it's license revoked by Medicare and is under contuing Federal investigation. Press reports quote a Federal official as stating that she could not rule criminal prosecution against the principals of the company out! BTW, one of the principals is IWWI's CEO's mother! The CEO of IWWI was the former VP of Sales of AHC, as listed in his bio in one of the very creative "analyst" pieces I have seen.
The reason that Medicare revoked the company's license was for QUALITY OF CARE issues... care that was being provided by Medical Resources, LLC (the company being acquired by IWWI), whose offices were raided as part of the investigation!
Further, I find it hard to believe that in the press release announcing MRLLC's financials, it was not disclosed that the company's revenues were derived from one, and only one, source... which was America's Health Choice! That revenue stream is GONE! They have scrambled to replace it... but in reality will be lucky to retain a fraction of the revenues they enjoyed in '06 and '07 going forward.
Could this be the reason for the late filing of the 10K? What auditor will sign off on this mess?
Recent article:
Medicare Advantage Plans by America’s Health Choice Terminated in Florida
Centers for Medicare & Medicaid Services cite delays and denials
July 25, 2007 - CMS on Friday terminated Medicare Advantage plans run by America's Health Choice of Vero Beach, Fla., citing delays and denials of medical care, the South Florida Sun-Sentinel reports. The termination, which affects about 12,000 beneficiaries, is the first CMS has made for quality-of-care reasons.
CMS began investigating the insurer in January after beneficiaries complained about treatment authorization delays, medication errors, a lack of access to specialists and poor-quality medical care at company clinics, according to the Sun-Sentinel.
Abby Block, director of the CMS Center for Beneficiary Choice, said the agency received additional details about the plans from employees and conducted a surprise inspection a few weeks ago, which led to the termination.
The company's quality problems posed "an imminent and serious threat to the health" of beneficiaries, according to Block (LaMendola, South Florida Sun-Sentinel, 7/21).
Block said CMS was unaware of any harm to beneficiaries caused by substandard care but it had "to act quickly before that occurred" (Wessel, Orlando Sentinel, 7/21).
The investigation is ongoing and criminal charges could be filed against AHC executives, Block said.
AHC said it would not seek a reversal of the decision in court, and in a statement said that it would "work with [CMS] during this transition."
All beneficiaries were switched automatically to MA plans run by the UnitedHealthcare subsidiary Secure Horizons, which offers plans with similar costs and benefits as AHC plans.
Secure Horizons will cover beneficiaries' medical bills until Sept. 30, at which time beneficiaries can switch to another health plan or to traditional Medicare. Block said, "Everything will be paid for. They need have no concern there will be any interruption in services" (South Florida Sun-Sentinel, 7/21).