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The Govils haven't been very forthcoming with details about actual sales of the SmartDesk; but we have a general time frame of when they began shipping them, about what the selling price is, and the revenue they have brought in. Even with this limited info, it's an almost certainty that Cemtrex is averaging sales of less than 2 SmartDesks a day. Saagar is a fool if he doesn't totally abandon the SmartDesk ruse and begin pushing the AR/VR ruse immediately.
That analyst’s report has to be terribly disheartening for CETX stuckholders.
Our Ai stock analyst implies that there will be a negative trend in the future and the CETX shares are not a good investment for making money.
The report even predicts a stock price as low as $0.0226 in 2020.
https://walletinvestor.com/stock-forecast/cetx-stock-prediction
Here's an interested, yet depressing, fact for Cemtrex stuckholders. More than half of 2019 has now passed during which time the price of CETX has dropped by more than half.
Very good to see that CETX has fulfilled all its requirements to maintain NASDAQ listing status. This is where the company deserves to be listed since NASDAQ is focused on high technology companies with innovative business plans.
But most penny stock scams are listed on the pink sheets so that would be more appropriate for CETX.
I purchased it all,so don't you worry, I will sell it later for at least $12/sh.
I don’t think that will be possible. I doubt Saagar has plans for another 1 for 6 reverse split just yet, and CETX will probably be below $2 before he can get it done. Even if he has to change the terms to 1 for 8 again, the stock price will almost certainly have fallen below $1.50 by the time that happens.
Lucky u got fired by Saagar?
I can make no sense of that statement. Please explain what you are trying to say.
Shorts need to cover here soon.
I wish I had a penny for every time I've heard that sentence uttered about some POS penny stock scam. I'd be as rich as Richard Pearson. :)
The offering is expected to close on or about July 3, 2019, subject to customary closing conditions.
https://finance.yahoo.com/news/cemtrex-prices-500-000-registered-132500099.html
Oops. Is this going to be another huge embarrassment for Saagar like being forced to adjust the terms of the reverse split? He better start pumpimg this POS. CETX could easily be below $2.23 by the time the offering closes.
Are you not aware that the purpose of the reverse split was to regain compliance? It's not really news; it was supposed to happen. The real news occurs in a few months when the stock price is back below a dollar, and Saagar has to figure out the next maneuver to keep his scam alive. At any rate, he may slow the slide, but he can't stop it. He might even plant promoters on message boards. Ultimately, it will be in vain.
Here is the Autonomous SmartDesk 2:
https://www.autonomous.ai/standing-desks/smart-desk-2-home?option1=1&option16=37&option17=40&option2=4&gclid=CjwKCAjw9dboBRBUEiwA7VrrzUfOxzxatYOC9YQzUgXTyIAKtmVtvadfeQsOX7lCL9pA93IJLJlGhRoCyB8QAvD_BwE
I have to say I believe it’s a workspace which spells doom for 1 SmartDesk that is familiar to Cemtrex stuckholders. At only $299, this quality sit/stand desk provides almost the same size work surface as the desk in the rigid Cemtrex take-it-or-leave-it system. Is it any wonder that the price of “Saagar’s Folly” has been lowered so drastically? A person using the Automomous desk can put together a workspace exactly suited to his or her needs and should be in it for less than Govil’s still overpriced contraption. Expect to hear more from Cemtrex about AR/VR. The SmartDesk ruse seems to have almost run its course.
Yahoo Finance had CETX "overvalued" even before the reverse split so, naturally, it is even a worse investment now.
https://finance.yahoo.com/quote/CETX?p=CETX
Wow! Here is some very bad news for stuckholders who thought the SmartDesk would bring salvation to their investments. In a desperate effort to get “Saagar’s Folly” out the door, Cemtrex has cut the price almost in half. The company is now offering the basic (what it calls “high performance”) unit for $2,499 and the higher performance unit for $2,999.
https://smartestdesk.com/products/smartdesk?variant=12906058940471
The price had already been lowered to $3,599 on Newegg, but it appears no one was punching the purchase button there.
https://www.neweggbusiness.com/Product/Product.aspx?Item=9SIV24Z8PC0277&ignorebbr=1&source=region&nm_mc=KNC-GoogleBizMKPL-PC&cm_mmc=KNC-GoogleBizMKPL-PC-_-pla-Cemtrex+Advanced+Technologies%2C+Inc.-_-All-in-One+PCs-_-9SIV24Z8PC0277&gclid=CjwKCAjw9dboBRBUEiwA7VrrzWkt6DnA9yPe0jK1HhNbUFLyOLt9nIfhKVEIj1OCaWzPmceGb1RkfRoCA6cQAvD_BwE&gclsrc=aw.ds
It's funny how Cemtrex apologists are quick to blame "shorty" when the stock goes down even a few pennies, but they breathe nary a word about manipulation when the float turns over nearly 20x.
I imagine the pr and some wash trading by the stock's manipulators pulled the day traders back in. It doesn't change anything. This is still a scam, and it's still going to crash hard.
Playing the dips has been fun easy flipping stock...
Congrats to you and others traders. Don't get caught watching the paint dry.
...the company received approximately $6M new orders in its Electronics Manufacturing Services (EMS) Segment over the last few months and its backlog remains strong at $50M.
https://finance.yahoo.com/news/cemtrex-ems-segment-receives-6m-132000796.html
Here is how Saagar hung himself with this latest press release. On March 12, he issued a pr stating $7M in new orders and a $50M backlog. In today’s pr, he is not specific about when Cemtrex received the $6M new orders only saying that they came in “over the last few months”. They could well be part of the $7M orders already announced. That’s the worst case scenario. Now, here is the best case scenario, which is still very bad. If today’s $6M orders are separate from March’s $7M orders, the company is only clearing about an eighth of its backlog every quarter so it will be two years (eight quarters) before some customers receive their orders. I shudder to think how long they will have to wait if the worst case scenario exists.
There are a lot of day traders that jump on reverse splits. That's the only reason CETX went up. They don't stay around for long. For the most part, they are gone now; and the stock is doing what all scam stocks do absent any promotion, i.e., it is going down. The 52 week low is $1.40. That will be taken out soon, and it wouldn't surprise me to see CETX back below a buck prior to the release of disastrous 10-Q numbers.
Even the dumbest of the stuckholders will know by then that the SmartDesk is a huge bust. Maybe the Govils will crank up the VR/AR ruse.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=149017535
And the Govils crank up the VR/AR ruse.
This application exemplifies the creativity and technical excellence of our VR/AR team,” said Saagar Govil, CEO and Chairman of Cemtrex.
https://finance.yahoo.com/news/cemtrex-completes-development-augmented-reality-124000200.html
That is it, only $638,000 in revenues for what was hyped as the savior of CETX.
Heh, heh. So much for “considerable demand” and a “euphoric reception”.
https://finance.yahoo.com/news/cemtrex-experiencing-considerable-demand-smartdesk-123000164.html
The next quarterly report is mid-August. It will be terrible. I imagine the stock will have fallen substantially by that time, but it will definitely slide when the 10-Q proves beyond doubt that the SmartDesk is "Saagar's Folly". Just stating the facts.
Thanks for the heads up on CECO Environmental (CECE). It appears Zacks is correct in having it better-ranked than Cemtrex (CETX). While CECE's price has risen more than 50% since this time last year, CETX is down an astounding 80%. Of course, Cemtrex is a scam that has been exposed so it has that working against it.
Upstanding businessmen Arun Govil and son Saagar have extremely bad luck in choosing the people with whom they associate. In every case, those people turn out to be crooks.
In 2002 and 2003, defendants John M. Fife ("Fife") and Clarion Management, LLC ("Clarion Management") (collectively, "Defendants") engaged in a fraudulent scheme to , purchase variable annuity contracts issued by the Lincoln National Life Insurance Company ("Lincoln") in order to engage in "market timing" in mutual funds for the benefit of Clarion Capital, LP ("Clarion Capital").
https://www.sec.gov/litigation/complaints/2007/comp19972.pdf
It’s a shame, and unfortunate for shareholders, that the Govils are such naive, trusting individuals.
Cemtrex filed a SC 13G today which reveals the Govils’ latest partner in crime.
https://www.sec.gov/Archives/edgar/data/1435064/000156761919013717/0001567619-19-013717-index.htm
John M Fife is a well known toxic death spiral dilutive financier. I just thought I’d help you educate these fine folks on the mess they’ve gotten in.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=138803895
Cemtrex certainly tried its best to keep the identity of the “Investor” from its stuckholders, but the name Arun Govil is written all over this paragraph.
I. Issuance Limitation. Notwithstanding any other provision, at no time may the Corporation issue shares of Common Stock to Holder which, when aggregated with all other shares of Common Stock then deemed beneficially owned by Holder, would result in Holder owning more than 4.99% of all Common Stock outstanding immediately after giving effect to such issuance, as determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder; provided, however, that Holder may increase such amount to 9.99% upon not less than 61 days’ prior notice to the Corporation. Corporation and its transfer agent will immediately provide Holder with the then total number of outstanding shares of Common Stock at any time upon request. No provision of this paragraph may be waived by Holder or the Corporation.
https://www.sec.gov/Archives/edgar/data/1435064/000149315219003792/ex3-1.htm
That press release doesn't sound any smarter today than it did when Cemtrex issued it a couple of months ago. Anyone using a laptop will buy a sit/stand desk for a few hundred bucks. There is absolutely no reason for that person to even look at Saagar's overpriced, take-it-or-leave-it contraption.
I don't know if this StockTwits poster is a lying pumper or the biggest dimtwit on the site, but the only way this POS could ever see $12 would be through another reverse split.
CaptainCox Jun 18th, 9:37 am
$CETX Standing order placed to sell all my shares at $12. Order in place until October.
This post today on Stocktwits by poster Waitwhat is hilarious:
Waitwhat Jun 14th, 6:47 am
$CETX Upgraded from turd to low float turd.
Here's an interesting, although certainly not fun, fact for CETX stuckholders. After the 1 for 8 reverse split, the price is currently $2.55 which just happens to be approximately an eighth of the stock's 52 week high..........and that's a low down dirty shame.
Wow! CETX closed at $3.00. That’s lower than the then 52 week low of $3.12 (split adjusted) that was established just shy of two months ago.
Let's put this POS in perspective. It hit a high of $4.58 today, and it will probably never reach that price again. It is currently below $3. In contrast, it began 2019 at a split adjusted $5.52. It began 2018 at a split adjusted $22.48. It began 2017 at a split adjusted $50.40. Here's a question for long term investors in CETX. Which is higher, $3 or $50?
Don't get caught watching the paint dry. Remember, this is still a scam. The Govils still make their money by selling shares to suckers.
So.......Saagar hopes to have CETX around $2 following the split. It was over $2 on July 30, 2018, and fell below a buck before December. I'm guessing a very similar scenario will play out this year.
.....previously announced 6:1 reverse split of its outstanding common shares has been changed by the Company’s board of directors to 8:1.....
https://finance.yahoo.com/news/cemtrex-common-stock-reverse-split-123000669.html
Ha, ha!. I called it.
Now, it appears he's going to have to do some heavy pumping to get the price up prior to the split, or he's going to have to alter the terms of the split.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=149134463
This POS is going to plummet after the split.
Thanks for once again providing proof that the Govils never intended to follow through with the promised "vigorous defense" of the lawsuits. The con men knew their shenanigans could not withstand the scrutiny of the discovery process. Penny stock fraudsters ALWAYS "talk" about a vigorous defense but ALWAYS settle instead. Doing otherwise would inevitably lead to felony criminal charges and federal prison sentences.
Whatever happened to the annual dividend the company was touting so enthusiastically in early 2017?
Here is what Cemtrex had to say about the class action lawsuit in its 10-Q filed May 11, 2017.
The Company believes the alleged class action litigation is without merit and intends to defend itself vigorously.
https://www.sec.gov/Archives/edgar/data/1435064/000149315217005013/form10-q.htm
Here is the admission the company made today that it was too scared to actually defend itself in court and instead wimped out and settled the lawsuit.
“This settlement has concluded these lawsuits expeditiously and further avoids interference on operations, which we believe is beneficial to the Company and its shareholders,” continued Mr. Govil.
https://finance.yahoo.com/news/cemtrex-announces-final-court-approval-123000861.html
How did this benefit shareholders? Adjusting for the previous 1 for 6 reverse split, Cemtrex stock has fallen from a high before the lawsuit of over $8 to less than a nickel.
At this point, it isn't a given that Cemtrex will regain compliance with the 1 for 6 reverse split. The stock has to remain above $1 for ten consecutive days. With the price continuing to plummet, there is no guarantee the split will even put it above a dollar. My guess is that Saagar was hoping to have CETX somewhere around $1.50 after the split so that no or very little promotion would be required to keep it above a buck for the ten days. He knows the price will fall; he's just looking to buy another 180 days of NASDAQ visibility to swindle the suckers. Now, it appears he's going to have to do some heavy pumping to get the price up prior to the split, or he's going to have to alter the terms of the split. It isn't easy running a con when it reaches the point where just about everyone is aware of the fraud.
For those concerned about short sellers, don't worry. CETX is headed even lower. The shorts will do just fine.
New 52 week low of $0.1749. That would be $1.0494 after the split.
CETX hit its 52 week low of $0.22 again today. It won't be long until it goes lower.