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In 2018, Cemtrex introduced its flagship IoT product, SmartDesk, which is poised to disrupt an $80 billion market. This flagship product has no competition right now, a situation similar to the early era of Microsoft when it first launched Windows in November 1985.
Saagar Govil really is delusional if he thinks investors will equate his little scam with the fledgling Microsoft.
SmartDesk is gaining traction in the business community. The Company has received multi-unit orders from the city of Atlanta and United Airlines, and now has more than 657 pre-orders.
So we now know that the ‘approximately’ 800 pre-orders that Saagar was hyping in late November has shrunk to as few as 658. At this rate, all the pre-orders could be cancelled by the time he is ready to begin shipments.
Delivery of initial orders of SmartDesk is expected in 1Q19, and prices are ranging between $4,000 and $6,000 per desk, with net margins of approximately 30% possibly generating revenue of $3 million in 1QFY19.
Obviously, Saagar is referring to ‘gross’ rather than ‘net’ margins, and that number has shrunk from the 35% gross margins he was hyping in late November.
http://www.cetxinfo.com/
https://finance.yahoo.com/news/cemtrex-provides-additional-information-regarding-133500335.html
And a new 52 week low of $0.84 was established yesterday shortly after Saagar hyped the Cemtrex booth at CES 2019. He may think 'SmartDesk' is a cute term for the company's work station, but investor sentiment hints that the 'DumbGovil' would be a more accurate description.
CES 2019 is a huge show, and the following map shows just how small and insignificant Cemtrex’s participation is. Central Hall 1 holds booths 10,000 to 18.999, and it is just 1 of 11 official venues. Cemtrex has booth 17927 which will be easily lost among the more than 2.75 million net square feet of exhibit space. I’m sure there will be write-ups about the SmartDesk after CES, but they will all be paid for by Saagar.
https://cdn.ces.tech/ces/media/pdfs/ces-2019-svm-round-7-final.pdf
This was a press release from October 29 in which Saagar was hyping his SmartDesk.
https://www.prnewswire.com/news-releases/data-projects-the-iot-device-management-market-is-set-to-grow-rapidly-833579644.html
CETX has shed a quarter of its value in the short time since the pr so investors obviously aren't impressed by the take-it-or-leave-it work space.
CETX came within a penny of its 52 week low today. I imagine it will establish another new low before the year is over. That's what happens when investors get wise to a scam.
Here is the latest press release from Cemtrex, and it tells investors all they need to know about the failure of Saagar Govil’s SmartDesk. They can forget all the pie-in-the-sky projections he is trying to blow up their rears. The revealing fact to be taken from the pr is that, after months and months of taking preorders for the desk, Cemtrex has a backlog of only a measly 800 units. Unfortunately for investors, the first responders to these types of promotions are always the most gullible and enthusiastic. Govil has drummed up practically no interest, and it will only wane from this point on. He is hallucinating if he thinks he can sell 100,000 units in three years……...or ever. By the way, shareholders might want to ask Saagar how he can deliver a SmartDesk along with white glove service to a customer in Bearcreek, Montana, and maintain gross margins of 35%. Common sense tells anyone it isn’t possible. Harebrained ideas like the SmartDesk are the reason the Govils can’t make it as legitimate businessmen and the reason Cemtrex is a scam.
https://finance.yahoo.com/news/cemtrex-provides-additional-information-regarding-133500335.html
Technology products such as the SmartDesk keep investor interest high.
Here is the press release from August 1, 2017, in which Cemtrex announced it was developing the SmartDesk.
https://www.cemtrex.com/news/cemtrex-developing-smart-desk/?utm_source=facebook&utm_medium=social&utm_campaign=Investor_News
The stock price was $2.92 on that day. It’s less than a dollar now. In what universe does that plunge translate into "high" investor interest?
They have good fundamentals great revenues profitability is positive so can someone explain why so much downward pressure???
Actually, it's pretty simple. The Public Company Accounting Oversight Board (PCAOB) has made the following statement about every auditor Cemtrex has ever had:
It is a failure to accomplish the essential purpose of the audit, and it means that, based on the audit work performed, the audit opinion should not have been issued.
That means shareholders can't trust anything the Govils have ever said about the fundamentals, revenues, or profitability. They are con men, and they only hire auditors who are willing to overlook the lies they tell to shareholders.
Since I was right about CETX easily being below $1.50 by year's end, maybe stuckholders should worry that I now think it will take out a buck within 2 to 4 months.
And they should really be worried that the stock tumbled below a buck in less than 2 months and well before year's end.
Whoa! New 52 week low of $0.85!!
And new 52 week low of $0.99.
New 52 week low of $1.00. Look out below!
Oh, and for those foolish enough to believe the stock will head in the other direction, Anita Zucker still has lots of shares to dump and the rights offering will only dilute shareholders further. Yeah, the price is going lower. Guaranteed.
New 52 week low of $1.01. That's what happens when a scam finally gets exposed.
I believe he settled because when you have low life accident lawyers come at you like they smell money, your only choice is to just settle and move on that's the tort system.
Nope. That's not it at all. Saagar Govil assured shareholders that the company had insurance to cover the cost of litigation and, therefore, that it would "vigorously defend" itself. Those "low life" lawyers wouldn't have received a penny if Cemtrex won the lawsuits. The only reason Govil settled was because he knew he would lose in court and his and Daddy Arun's fraudulent acts would be exposed.
Saagar Govil confirms he is having a difficult time selling the take-it-or-leave-it SmartDesk. He has conjured up a “pilot” program in his losing battle of trying to interest companies in the overpriced, inflexible work station.
https://finance.yahoo.com/news/cemtrex-announces-rush-university-medical-134500321.html?soc_src=social-sh&soc_trk=tw
Under the terms of the rights offering, Cemtrex will distribute, at no charge, non-transferable subscription rights…
https://finance.yahoo.com/news/cemtrex-announces-subscription-rights-offering-140000260.html
As if anyone has ever charged for subscription rights! What an ignorant tool Saagar is!!
And then there was a new 52 week low of $1.06. What's an exposed two-bit con man to do?
And another new 52 week low of $1.07.
Cemtrex Inc. Makes Deloitte’s 2018 Technology Fast 500™ List of Fastest Growing Companies
And yet the stock hit a new 52 week low of $1.08 today. Deloitte may not know what's going on here, but more and more investors are getting wise to this scam.
Saagar Govil settled the lawsuits just as I said he would. All the talk of "vigorously defending" was just talk. Stockholders know that he was screwing them all along. Now, they have to throw more money down the rabbit hole in the subscription rights offering or watch their investments get further diluted. It's a no-win situation for them. Oh, well, they were warned. Still, they can't feel good knowing they were duped by penny ante losers like Arun and Saagar.
Saagar would like for investors to believe the city of Atlanta just made a purchase of the Cemtrex SmartDesk, but he was very careful not to say that it had. No, he didn't mentioned the number of units sold or the price per unit. He didn't mention any details at all. In fact, he has never informed investors of a signed contract for the SmartDesk. Obviously, what he has done is either given a few desks away or provided them for a nominal sum. Yeah, he brags about the goal of selling 100,000 units in three years, but he hasn't really accomplished any sales. By now, everyone is familiar with his braggadocious ways. He would be shouting from every rooftop if he was actually making sales. He isn't, and the stagnant stock price after today's announcement shows no one believes he is. A loser can only hide his true nature for so long, and Govil's lies have caught up with him. Everyone knows he is nothing but a two-bit con man.
https://www.cemtrex.com/news/cemtrex-announces-city-of-atlanta-as-latest-smartdesk-client/
As the parties were in the process of reaching the class action settlement, the Company filed a reply brief in support of its motion to dismiss the plaintiffs’ amended complaint in the securities class action.
https://globenewswire.com/news-release/2018/10/17/1622657/0/en/Cemtrex-Announces-Settlement-of-Class-Action-Securities-Lawsuit-Derivative-Actions.html
And that proves beyond a doubt that Cemtrex is a scam. If Saagar Govil thought the motion to dismiss had even a miniscule chance of succeeding, he would have delayed reaching a settlement in the class action lawsuit. Instead, he agreed to the settlement before there could be a ruling on the motion to dismiss because he knew the ruling would go against him. Govil is a run of the mill con man. He knows he isn’t smart enough to make a decent living as a legitimate businessman. He’s a crook because he’s a loser.
Major players in the IoT industry such as: Cemtrex, Inc. (NASDAQ: CETX), Oracle Corporation (NYSE: ORCL), Qualcomm Incorporated (NASDAQ: QCOM), PTC Inc. (NASDAQ: PTC), Altair Engineering Inc. (NASDAQ: ALTR)
Altair has a market cap of $2.5 BILLION. PTC has a market cap of $9.3 BILLION. Qualcomm has a market cap of $92 BILLION. Oracle has a market cap of $184 BILLION.
Cemtrex has a market cap of $16 million. The other four companies are definitely major players, and Saagar Govil is a major dunderhead if he thinks he can link his little scam to those industry titans.
I love it when scam companies like Cemtrex use the old ruse of trying to link their names to those of strong, legitimate companies. Here Saagar, laughably, thinks he can dupe investors into believing his con game has something in common with Oracle, Qualcomm, PTC Inc., and Altair Engineering Inc.. The puny volume this ruse generated today makes it clear that Govil isn’t finding many suckers.
https://www.prnewswire.com/news-releases/data-projects-the-iot-device-management-market-is-set-to-grow-rapidly-833579644.html
Yep, that happens every time I abandon Jethro Bodine's "naught plus naught" math to use a calculator.
And this article makes a good case for Saagar Govil being way overpaid while failing miserably to deliver for shareholders. Of course, Daddy Arun's purpose in engineering a controlling interest in the company was always to benefit himself and the other insiders.
https://finance.yahoo.com/news/did-cemtrex-inc-nasdaq-cetx-184438341.html
CETX 1.20 +2.92% Cemtrex (NASDAQ:CETX) Raised to Buy at ValuEngine
I don’t know that I’d give a lot of credibility to ValuEngine’s opinion. Here is your post that showed it had upgraded CETX from hold to buy on October 2nd. The stock was in the range of $1.43-$1.475 on that day. Anyone who bought based on the ValuEngine research note is in a big hole today.
Cemtrex (NASDAQ:CETX) Raised to “Buy” @ ValuEngine ValuEngine upgraded shares of Cemtrex (NASDAQ:CETX) from a hold rating to a buy rating in a research note published on Tuesday, October 2nd.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=144173019
This settlement concludes this matter expeditiously with no additional costs to the Company
http://globenewswire.com/news-release/2018/10/17/1622657/0/en/Cemtrex-Announces-Settlement-of-Class-Action-Securities-Lawsuit-Derivative-Actions.html
What a crock! Saagar assured investors that the company had insurance to cover the costs of litigation. If the company and its officers had done nothing wrong, allowing the lawsuits to proceed to trial would have proven them innocent if they won the suits and wouldn’t have cost shareholders a dime. The only reason to settle the suits is the same reason scam companies always settle lawsuits, i.e., they know they will lose in court and be exposed as crooks. The only hope that justice will be served now is if the SEC files a civil suit and the DOJ follows up with criminal charges. That isn’t likely to happen because there are too many penny stock con men for the law to nail all of them. Nevertheless, it would be nice to see Arun and Saagar be among the few who land in federal prison. It’s what the scumbags deserve.
So, NIL Funding has been given the go ahead to start dumping its 1,000,000+ shares.
https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&filenum=333-224379
Uh-oh, shareholders. Look out below!
Why does Cemtrex continue to engage sleazy auditors? This is what the Public Company Accounting Oversight Board had to say about Bharat Parikh & Associates:
Whether or not associated with a disclosed financial reporting misstatement, an auditor's failure to obtain the reasonable assurance that the auditor is required to obtain is a serious matter. It is a failure to accomplish the essential purpose of the audit, and it means that, based on the audit work performed, the audit opinion should not have been issued.
The PCAOB said the exact same thing about Green and Company, CPA.
It said the exact same thing about Haynie and Company.
The PCAOB revoked the registrations of former auditors Li and Company, Pc, and Gruber & Company, LLC, also.
Of course, with all the scumbags that Saagar Govil and daddy Arun have been associated, this list probably isn’t complete. Suffice to say that any auditor who has filed reports upon which investors cannot rely might easily find employment with Cemtrex.
After all, Cemtrex is a scam.
Congrats to Cemtrex shareholders. The stock closed at $1.30, up a penny from yesterday's close, after today's news of the settlements. That is only down about 46% from its close of $2.81 on January 1st.
So, where do you think the stock price will be in four months, six months, a year? I say it will be MUCH lower.
“This settlement concludes this matter expeditiously with no additional costs to the Company...”
Saagar would like to have it both ways, wouldn't he? He claimed the lawsuits wouldn't be a burden to the company or stockholders since company insurance would pay the costs; and, by golly, the insurance is paying the costs. That means it would have paid the costs if the company had chosen to "vigorously defend" itself as Saagar had told stockholders that it would. So, his claim that continued litigation “would be protracted, burdensome, and expensive for the Company” is nonsense. The best interests of both company and shareholders would have been served by continuing litigation, winning the lawsuits, and, thereby, proving Cemtrex is not a scam. Of course, Cemtrex is a scam so Saagar knew he could not prevail in court; and when he lost, the insurance company would not be liable for his fraud. That’s why he settled. There was no reason to do so otherwise.
The motion to dismiss proves beyond a doubt that Cemtrex is a scam. As soon as the company caved in and settled the lawsuits rather than "vigorously defending" them, it filed the motion to dismiss knowing full well the settlement would give the court no opportunity to rule against its motion. Yes, it was cowardly; but lies and cowardice are the tools of penny stock con men. Over 200k shares traded yesterday and the price plunged as stockholders bailed out. The price spiked today on only a fraction of yesterday's volume. Obviously, today is the day the stock price is being manipulated although CETX pumpers made the ludicrous claim that it occurred yesterday. Nonetheless, the stock will soon resume its decline. More people are getting wise to this scam every day. There really is no way to stop its implosion.
Did I say CETX would take out a buck in 2 to 4 months? Heck, it's looking like it could do it in 2 to 4 days!
And now another new 52 week low of $1.09.
New 52 week low of $1.16. And it's only going lower.
Of course, there are problems with wireless charging.
Yes it’s nice to not have to plug your phone in to charge it, but in my eyes, that’s about the only benefit currently. Probably my main issue with wireless charging currently is that it’s actually highly inconvenient. I know this sounds strange as surely throwing your phone onto a pad is easier than faffing around with cables, but when you’re charging wirelessly, you can’t move your device. If you’re connected via a cable, you can still use it absolutely fine and can wander a bit (depending on the length of your cable). With wireless charging, you have to leave it on the charging pad – you can’t even pick it up. Also, a lot of the time, you can’t even use your phone when you’re using a wireless charger. Pretty annoying if, like me, you’re surgically attached to your phone.
https://cambrionix.com/blog/problems-with-wireless-charging/
Here's the latest paid-to-pimp site hyping the Cemtrex SmartDesk:
http://longisland.news12.com/Clip/14600828/the-download-cemtrex#.W79XCJOl-9J.twitter
The video states that "all wires are integrated into the system". Now we know that the SmartDesk does not have only one wire as Saagar claimed.