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New post split low of $1.54 now.
The dimtwits just don't get it. The scam has been exposed, and CETX is going DOWN.
Dethagon Aug 7, 9:22 am
$CETX Looks to be set for a move up with some volume. Not much is standing in the way to $2.
New post split low today of $1.55, and the poor dupes on Stocktwits were talking about the stock finding a bottom yesterday. Nope, no bottom here either. The stuckholders now think the earnings release is going to save them. They are wrong. CETX is going lower.
I hope you make bank with your short.
I've never shorted a stock. Not my thing.
Cemtrex today announced that their subsidiary, CemtrexLabs (cemtrexlabs.com), has been ranked as one of the world’s top small business web developers by Clutch, one of the world’s largest B2B ratings and reviews sites in the world.
https://finance.yahoo.com/news/cemtrexlabs-named-top-app-developer-220000939.html
Clutch has annual revenues around $1.5M. That hardly makes it ‘one of the world’s largest’.
Uh-oh. Another new post split low of $1.57.
Uh-oh. New post split low of $1.61.
Yeah, I never understood why stockholders were excited when Cemtrex announced the SmartDesk way back there. It was easy to see it was a no go from the git go.
Hmmmmm. I wonder if Cemtrex has actually stopped selling the SmartDesk. NewEgg Business shows the price as $3599/$3799, but there isn’t a single review of the desk so I doubt the company sold any desks there. The desk certainly wasn’t flying off the shelves at the original listed price, or it wouldn’t have been lowered so drastically.
https://www.neweggbusiness.com/product/productlist.aspx?Submit=ENE&DEPA=0&Order=BESTMATCH&N=-1&isNodeId=1&Description=Cemtrex+SmartDesk
Of course, the price is even lower on the SmartDesk web site. It is $2499/$2999. There are only twelve reviews of it there, also. It’s logical that there would be many more reviews if the desk has been selling well. Ironically, the last review was posted on April 15. Has the SmartDesk not been available since then? The web site shows it is sold out, and it must be backordered with a 6-8 week lead time. That’s strange. Cemtrex could not have sold oodles and oodles of them or there would be no reason to cut the price almost in half. How is it that they are not immediately available for sale?
https://smartestdesk.com/products/smartdesk?variant=12906059038775
Btw, remember when Cemtrex was touting its free, white glove installation service? I can find no mention of that anywhere now. Strange. Very strange.
I wonder if CETX stuckholders, who were mesmerized into believing the SmartDesk was going to be their salvation, realize that April 9 was the last time the desk was the subject of a company press release.
Kungrats weaklings who sold under $2.30 yesterday.
Heh, heh. Those 'weaklings' are kicking sand in a lot of longs' long faces.
Saagar isn't showing a lot of enthusiasm for promoting it. He certainly isn't throwing big bucks at it. I imagine it will easily take out the 52 week low of $1.40 within two months, but I wouldn't be surprised if it happens within two weeks.
Yahoo shows CETX hit a new post split low of $1.6281 this morning.
Here is the truly pathetic press release Cemtrex issued as the markets opened:
http://www.globenewswire.com/news-release/2019/07/30/1893772/0/en/Cemtrex-Industrial-Segment-Sees-Increase-in-Demand-from-Packaging-Related-Industries.html
Of course, the stock continued to tank. It ended the day down $0.09 at $1.72. Saagar must have gone into panic mode because he issued another press release after hours. Unfortunately for him, it was even more pathetic than the first. He claimed that CemtrexLabs was named a top app developer by Clutch and tried to make that sound like a big deal. Clutch is a small company with estimated annual revenue of only $1.5M.
https://www.owler.com/company/clutch1
Here is the Clutch profile of CemtrexLabs:
https://clutch.co/profile/cemtrexlabs
Note that in over three years CemtrexLabs has only 19 reviews from companies for which it supposedly supplied services. If the quantity of work is underwhelming, its importance is laughable. Most of the ‘powerhouse’ companies that reviewed CemtrexLabs have from one to ten employees and most chose not to name the person who provided the review, e.g., there are reviews by an unnamed plastic surgeon, an unnamed investment fund founder, an unnamed video curation site founder, an unnamed investment technology firm CEO, an unnamed hospitality platform co-founder, an unnamed archival management software co-founder, an unnamed global wealth management company CEO, and an unnamed barbershop management platform CEO. It doesn’t seem that anyone is eager to have his/her name associated with the Govils’ scam.
CETX ended the day at $1.72.
CETX hit a new post split low today of $1.73.
and a NEW LOW 1.86
and then a NEW LOW 1.80
and I personally thing it keeps falling and falling (in bold red caps)
and you are CORRECT!
CETX hit a post split low of $1.90 this morning, but stuckholders will be wishing for that price in a couple of months.
August 12th is the next earnings date.
I wouldn't count on the 10-Q being filed on time. Btw, Saagar will try to paint a pretty picture, and the stock price might even get a temporary bump from the few dupes who believe him; but the numbers will be horrendous.
Cemtrex has great liquidity. Many investors forget that one of the defining characteristics of the stock market is that it’s a market.
Long term stockholders of CETX must have a certain kind of liquidity themselves. Since the stock started 2017 at a split adjusted $50,40, it has lost 96% of its market value. I imagine the dupes who thought this scam was going to make them rich have 'liqufied' their pants many times.
Now down to $1.91.
Down $0.09 to $1.93. And that price will look good to stuckholders in just a few short months. It's going lower.
Great news! CETX : Spirit AeroSystems and Cemtrex in industrial gainers
No so great news! CETX closed down -0.03 at $2.02. Hanky panky after hours.
And it's less expensive than pr's although the 'cost' can certainly be greater if it draws the attention of the SEC. That's why I always like to alert the Commission on days like today.
Wow! $2.16? It began 2019 at a split adjusted $5.52 which means that, with little more than half the year gone, this turkey has fallen by more than 60%. Thanks for presenting this information to investors. I'm sure it has kept many people from buying into this POS.
Cemtrex (NASDAQ:CETX) Receives Consensus Rating of “Buy” from Analysts
There is nothing quite like a rating from a web site that no one has ever heard of. For instance, the Mayfield Recorder says that one analyst has rated the stock.
Cemtrex Inc (NASDAQ:CETX) has been given an average broker rating score of 2.00 (Buy) from the one brokers that provide coverage for the stock
https://mayfieldrecorder.com/2019/07/18/cemtrex-inc-nasdaqcetx-receives-consensus-rating-of-buy-from-analysts-2.html
It doesn’t seem to be aware of the fact that a consensus is a generally accepted opinion or decision among a group of people.
Hi, Mula. I just want to make sure you are aware that I continue to make 'serious accusations' so you can send copies to Cemtrex IR and Lawyers.
Saagar better have another pr ready to go in the morning. Without it, I don't see how the price keeps from going under $2 tomorrow.
I think you will soon have to short it when it gets pumped over $2.
Saagar has a big dilemma. The press release last week really didn't attract any new investors. The stock price got a bump on the day of the pr as traders played it, but that disappeared as soon as they did. Govil can't afford the number of pr's it would take to keep the price from falling. This scam has reached the point of diminishing returns.
The SEC now requires Cemtrex to state that its disclosure controls and procedures were NOT effective. Of course, this isn’t the first time that the company was forced to tell investors they couldn’t rely on anything it said.
Based on this evaluation and those criteria, the Company’s CEO and CFO concluded that the Company’s internal control over financial reporting was not effective as of September 30, 2013.....
https://www.sec.gov/Archives/edgar/data/1435064/000114420414058024/v390130_10ka.htm#a_012
This all started on 07-29-2011 with a letter from the SEC questioning the effectiveness of the company’s disclosure controls and procedures. Since the third quarter had already ended, CEO Arun Govil had no choice but to sign off on the 10-Q filed on 08-15-2011; however, he quickly determined that it would be better for him if someone else had to face any consequences that might result from the SEC’s ‘snooping’. CEO Saagar Govil’s neck has been in the noose since 12-19-2011. Greater love hath no man for his son than to throw him under the bus.
This SEC filing shows how Arun Govil set up this iteration of the Cemtrex scam. It could very well be the blueprint for how the Govils will lather, rinse, and repeat their penny stock con game.
On April 27, 1998, the Company was incorporated in the state of Delaware under the name “Diversified American Holdings, Inc.” On November 13, 1998, the Company’s name was changed to “Strateginet, Inc.” The Company subsequently changed its name to “Cemtrex Inc.” on December 16, 2004.
On December 30, 2004, the Company purchased certain assets from Ducon Technologies, Inc., which related to a business engaged in designing, assembling, selling and maintaining emission monitors to utilities and industries. Ducon Technologies Inc. is owned by Texxar Inc. a private corporation. The sole owner of Texxar, Inc. is Arun Govil, the Chairman, Chief Executive Officer, Treasurer and President of the Company. In consideration for the asset purchase, the Company issued to Ducon Technologies, Inc. 3,250,000 shares of its common stock. The shares were issued under Section 4(2) of the Securities Act of 1933, as amended, and/or Regulation D promulgated by the Securities and Exchange Commission.
On April 30, 2007, the Company purchased all of the issued and outstanding membership interests of Griffin Filters LLC, (“Griffin”) a company established since 1971 and engaged in the design, engineering & supplying of industrial air filtration equipment from its President. Arun Govil, the Chairman, Chief Executive Officer, Treasurer and President of the Company, was the owner of 100% of the issued and outstanding membership interests of Griffin. The Company purchased 100% ownership in Griffin for a purchase price of $ 2,750,000.00. The Company completed the Griffin purchase by (i) paying cash of $700,000.00, (ii) issuing 20,000,000 shares of common stock valued at $750,000.00 and (iii) issuing a four year convertible debenture in the amount of $1,300,000.00, paying interest of 8.0% per year and convertible into 30,000,000 shares of common stock. Griffin had sales and net income of $3,297,409 and $145, 981 respectively for fiscal year ended September 30, 2006. Griffin is now a wholly-owned subsidiary of the Company.
https://www.sec.gov/Archives/edgar/data/1435064/000114420408028805/v114321_1012g.htm
Here is some of the correspondence from 2014 between Cemtrex and the SEC. It's comical watching Saagar try to convince the Commission that the company's disclosure controls and procedures were effective, but the SEC wasn't having any of his lies.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=136166910
Just sent to Cemtrex IR and Lawyers a copy of this serious accusation by you.
Good for you. I generally send copies of my accusations to the SEC. I'm sure Richard Pearson's Seeking Alpha article was the main catalyst behind the exchange of letters between Cemtrex and the Commission, but I like to think the information I sent along as well played some part in the fact that the company had to admit its disclosure controls and procedures are NOT effective. It really puts a crimp in a penny stock scam when a company has to tell investors in its SEC filings that they can't rely on anything the company says.
A LongLoser here will always post Negs No matter what his former Boss will release.
Please expand on your biography of LongLoser. What position did he hold with Cemtrex? How long was he employed by the company, and what was the reason Saagar Govil gave for his dismissal? I can find no evidence that supports his existence and, therefore, can only conclude that he is a mythical figure; but I certainly encourage you to ‘flesh out’ his tale.
BO is imminent!!!
Ahhh, we may be in agreement here. Often, near this point in a scam’s life cycle, a reverse merger (rather than a reverse split) is employed in an attempt to hide the shenanigans of the con men running the scam. Perhaps, a private company will merge with Cemtrex as a way to go public. The merged companies could take on the name of the private company and apply for a new stock symbol and cusip number. ‘Cemtrex’ and the symbol ‘CETX’ would cease to exist. Of course, the Govil crime family and/or their associates will most likely be the crooks behind the private company, and the merger will simply set up a new iteration of the same old scam.
Arcadium’s augmented reality experience is custom engineered and designed by Cemtrex.....
https://finance.yahoo.com/news/cemtrex-announces-software-development-arcadium-131000589.html
I wonder if it will be as big an embarrassment for Cemtrex as this:
Here's the deal. Saagar is only going to get one, maybe two, days of price support out of a press release. Even if he issues a pr every week, there are just too many days in a week. The stock will continue its slide. It is inexorable.
I feel bad for the dupes who will lose their shirts investing in this turd, but it's great to see shorts playing Saagar's scam for profits.
this sounds like it COST MORE TO MAKE than sell
Correct. The only purpose of the press release was to lure traders in once again. It only produces a temporary bump. This is still a scam, and the stock price is still headed down the toilet.
Saagar is a fool if he doesn't totally abandon the SmartDesk ruse and begin pushing the AR/VR ruse immediately.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=149816324
I really can’t continue to give Saagar free advice. If the junior Govil isn’t competent in running this scam, Daddy Arun should spank his little behind and buy him a sandbox in which to play. Turn this con over to a seasoned crook who will provide more entertainment value. The mini Govil is just a boring, unoriginal twit.