Shareholder Vote!

e-stupid shareholders don't get to vote on much these days. Certainly not the theft of E-stupid technology by Graceless into I am Scam. Let's give all the shareholders a vote!

The new company is named "I Am." Very fitting, given the paranoid megalomania of Graceless. Le't vote on the best name for her new scam. Will it be:

I Am Scam - Direct, and certainly a fitting description for Garceless.

Scam I Am - With apologies to Dr. Seuss. More lyrical, don't you think? But a little less direct. The subtlety may be lost on the dwarfs of I Am Scam.

Shareholders, it's your call. Make your voices heard. I offer 1 million shares of e-stupid to the person who makes the best case for their choice.

Scam dwarfs, you get to vote also. What reference do you prefer?

Whoopee - CuriousKo here. Been away from this forum for several years. Many better things to do. Frankly, anything is more useful than tracking a long-time shyster like Mary Graceless and her thieving dwarfs.

You launched an ad hominem attack against Miffed. Yet, you did not counter her factual statements that ESTT has stolen shareholder money and now Graceless has illegally stolen ESTT technology for the new scam I Am. Embarrassing for you, not for Miffed.

I wonder who you are? Only three choices -
1. A clueless dupe....
2. Mary Graceless the scam artist in person...
3. One of the thieving dwarfs who gets a paycheck from Graceless...

Let's make a few guesses. You are not a clueless dupe, because even the clueless dupes gave up on e-stupid long ago. Review the posts on this board if you doubt my evaluation. Not a single new investor with anything to say about the investment quality of I Am Scam.

You are not Graceless, because her writing is incoherent, lunatic raving. Read the transcripts of her various testimonies if you doubt my assessment. She cannot construct a single, grammatically correct sentence. Too much plastic surgery? Too much alcohol? Too much paranoia? Too many subpeonas? Nah, she's is just a frightened little girl afraid to re-enter the US. Lost her beauty (small loss at best), lost her personal fortune, lost her right to re-enter the US, lost her integrity so long ago she has forgotten the word.

You must be one of the thieving dwarfs on the "I Am Scam" payroll. Lets dig a little deeper on that guess. Graceless has three dwarfs that we know - Tamio Stupido, er... Saito, or Marcello Solliven, or Richard Kim. Graceless may have a few family friends left to post your BS blogs, but likely even her family has deserted her by now.

Are you Tamio Stupido? I doubt it, because Tamio's English grammar is pure comedy la Jackie Chan.

Are you Richard Kim? I doubt it, because Richard has too much integrity (funny word to use with "I Am Scam") to write these posts.

Are you Marcello..... Let's see.
-No integrity, check.
-On the payroll of I Am Scam, check.
-Good English, check.
-Lastly, no self respect, check.

My bet is that you have so little self respect that you cannot identify yourself. Prove me wrong, little dwarf of I Am Scam!

VARMIT

You are even funnier and stupider than I thought.

* You are a discredited, anonymous poster on a random investment BBS.
* You can't even type in lower case.
* The exclamation key on your computer appears to be broken,
* and you tell us to be patient?
* You expect us to believe anything you type?

You are a silly, foolish, windbag--nothing but flatulence. Stinky, but gone in the breeze. Nothing of interest, nothing of substance, nothing of fact. In fact you don't even exist. You are just a figment of the imagination of Mary GRACELESS, the embezzler-in-chief.

varmit - you are so stupid as to be funny.

1. You bought e-stupid with your ENTIRE 401k. Just STUPID to bet your entire retirement on a single stock, especially a penny stock.

2. You bought in at 10 cents, and did not sell anything when it climbed to $1.75. Any sensible investor would have taken some profits, but not you. You were already STUPID, and then you were GREEDY.

3. Now you tell us "don't worry, all will be better." With no facts to to support your STUPID assertion, you hope to entice us to buy the stock to raise the price, so you can sell a few shares. You were already STUPID, then you got GREEDY, and now you tell LIES to try to CHEAT us.

You STUPID, GREEDY, LYING, CHEATER! You deserve e-STUPID.

Mary GRACELESS, the Queen of THIEVES, deserves you.

April Fool's trick? With e-Smart (or is it just stupid), it is possible that the goofy letter is an April Fool's joke. Except MG has no sense (of humor) so the joke is on the investors, the real April Fools.

See Google's Cadie (http://www.google.com/intl/en/landing/cadie/index.html) for a good April Fool.

Now even the lawyers think e-stupid is dead. A very bad sign...

Not so Curious Ko

Nothing to Gain. Much to Lose. That is why you will not see any more SEC filings from ESMT.

In my opinion, ESMT will not file any more SEC reports.

Nothing to Gain
Companies file SEC reports really for only 2 reasons -- 1. compliance with SEC regulations and 2. maintain good communications with shareholders. Companies comply with SEC regs in order to maintain their listings on public stock exchanges. ESMT has already lost its listing.
Shareholder relations - long gone for ESMT. They don't care about stockholders.

Much to Lose
ESMT is the target of three crippling lawsuits, as well as an ongoing investigation by the SEC.

Anything ESMT files with the SEC can/will be used against it.
If ESMT files accurate reports with the SEC, its crippled financial position will be exposed and ESMT will, in effect, verify its own insolvency and the malfeasance of its officers and directors. It will prove the case for its opponents.

If ESMT files more fraudulent reports, then it simply gives the SEC more ammunition for the SEC case.

No money-ESMT is tapped out (see BK lawsuit). No money to hire yet another accounting firm and yet another SEC law firm to write and file any SEC reports. Further, many accounting and law firms will avoid ESMT and its checkered past. Too much risk to any upstanding accounting or law firm.

Conclusion
Expect any more communications from ESMT to be backdoor, through videos on YouTube, stock boards, or other websites. If ESMT files any more reports with the SEC, they will be like the silly filings of the past few months--sales propaganda with no information regarding the company.

Next Date
Bankruptcy hearing on March 18. Also, deposition for MG scheduled for the same day. In my opinion, the BK hearing has 70% chance of happening. MG and new lawyers may try for additional postponement.

In my opinion, the MG deposition will never happen. Her lawyers will never let her speak on the record. She has a complete lack of discipline, no self control, and no coherent thoughts. She does not even have the courage to come into the United States anymore, except sneaking in unannounced to avoid subpeonas.

Take Your Losses
It's over. Lights are out; no one home. Lawyers are sweeping up the debris from this trainwreck.

To find out whether Mary showed up for the deposition on the 16th you could ask either counsel -- Bruce Atherton for creditors or Janice Newman for debtors. Contact info for each is available on this board and on Pacer.

Or you can check Pacer in a week or so to see if the deposition was posted on the court docket.

Will Mary show up for deposition on Feb. 16? Only six days away. I'm betting she will skip it or request a postponement, until 2010. Anybody willing to bet that she will show up?

Nothing on the 31st of January, as you pointed out, but let's not give up on Smartman so quickly. If you will just send more money and wait patiently until the 32nd........

BTW, thanks to ESMT for the very nice society reports on the trade show in France and the dinner party in Korea. Apparently, these have replaced financial reports as the preferred form for investor communications.

Finally, a thought about the note on the ESMT website about reporting people who spread "false and malicious rumors" about the company. That would be... company management? They still claim this is a business. Clearly a "false and malicious rumor."

LOL,
Ko (not so curious anymore)

Resources ($) and attention have shifted to the BK case, which will come to a conclusion much sooner.

If ESMT is declared to be bankrupt, then that may affect the ID Smart case. So, the ID Smart case will probably stall until resolution of the BK.

BK hearing rescheduled to Feb. 24, according to court docs available on Pacer.

Only vultures picking over the legal bones now. Take your losses and move on. Since trading has effectively ceased, you don't even have to sell your ESMT stock to claim the capital loss.

MakeMeBelieve --

If your are seriously considering legal action to recover your losses, you may want to contact the lawyers for several cases currently pending against EMST. Perhaps they can help you, or at least provide some closure as you take your capital losses for 2008.

If you bought stock through an exchange, then it may be difficult for you to recover anything. If you bought stock directly from a seller (off the exchanges) or loaned money to ESMT or IVI, with stock offered as collateral, then you may have some opportunity for a claim.

If you have a loan secured by stock, then consider contacting Bruce Atherton, the lawyer for the BK cases. Any loan to ESMT may be considered a debt and filing that debt with the BK court would preserve your place and your rights as a creditor. YOU can also contact Anthony Russo, the ex-CFO for ESMT, who is involved in this case. Check my post #1514 (I think).

If you want to sue the board of directors and executive officers of ESMT, then consider contacting Doug Borwick, who is involved with a case of this sort against ESMT. This one is against the directors and officers personally, so there may be some chance of recovery against their personal assets. Still, lawsuits are lengthy, expensive, and seldom satisfying.

Either way, any recovery of assets is doubtful, so take your capital gains loss in 2008.

Best wishes for careful, profitable investing,
CuriousKo

Paola -- To summarize the various lawsuits currently ongoing re. e-Smart, read posts 1476 and 1499.

1. involuntary bankruptcy petition in NY Southern District BK Court against e-Smart, IVI, and IVI Smart. Already discussed on this board. Contact Bruce Atherton (listed lawyer) for more info.

2. Shareholder lawsuit against execs and Directors of e-Smart, in Southern District of NY. You mentioned this lawsuit, with Borwick, et.al.

3. Ongoing SEC action against e-Smart, its directors and executives -- fraud, SEC violations, and failure to file timely SEC reports. Some discussed on this board. Contact SEC for info.

4. Patent lawsuits between ID Smart and e-Smart -- ongoing in California courts. Discussed extensively here. Various lawyers listed in these actions.

6. Administrative actions (failure to file and failure to pay payroll taxes) by IRS and state tax agencies against e-Smart.

7. A few lawsuits between legal firms and e-Smart regarding failure to pay outstanding bills. Thelen and Hinshaw, among others.

Possibly other legal actions and judgments against e-Smart. Search PACER and state court dockets for actions listing e-Smart.

Customers, deliveries, revenues...? Ask Taby.

In summary, the pattern is clear. CEO enjoys legal actions and consistently fails to honor its financial obligations. CEO and executive team have not demonstrated any ability to build a business. Board is sound asleep, like many boards today.

Suggest you contact Borwick and Atherton regarding their legal actions and how you can participate. Sadly, there may not be much meat left of the bones.

No one cares anymore, Taby. This party is over. Look around. There's nobody home here, and apparently no one home at e-Smart. The score tells the story:

Active Lawsuits -- 5 (or more?)
Revenues -- $0
Trading -- pennies per day
Shareholders -- in the penalty box

Give this one up and get a life. The lights are already out here.

Your optimism is pretty impressive, Lev. I don't think this is a tactic by Mary to reorganize and shed the debt, because:

1. Mary has used the publicly traded stock of e-Smart to raise cash. Without that, she has nothing to offer in exchange for cash.

2. The involuntary BK petitions are filed against three entities -- e-Smart, IVI, and IVI Smart--not just e-Smart. They are chapter 7 -- liquidation -- BK's. The companies would be liquidated, so there would be nothing left for Mary to take forward.

3. The shareholder lawsuit is against the directors and Mary Grace as individuals. That lawsuit survives any bankruptcy and dissolution of the companies themselves.

4. The current SEC investigation against Mary and e-Smart may result in more limitations in her future activities with public companies.

The only winners will be the lawyers. Trading in this stock has already ceased. Eventual delisting, bankruptcy, and liquidation will be an anticlimax.

Turn out the lights when you leave this discussion board. This party's over.

Here is the Docket report. Does not paste well into this comment field, so forgive the messy formatting. Presumably a person could call or email the BK lawyer or the U.S. Trustee or one of the creditors listed to find out more.

Interesting to note that Anthony Russo, one of the petitioning creditors, previously served as accounting officer for e-Smart. Not a good sign.

Taby -- is this a buying signal...
-------------------------------------------------------------
 FeeDueBK
U.S. Bankruptcy Court
Southern District of New York (Manhattan)
Bankruptcy Petition #: 08-14285-alg
Assigned to: Judge Allan L. Gropper Date Filed: 10/30/2008
Chapter 7
Involuntary
No asset
Debtor represented by E-Smart Technologies, Inc.
E-Smart Technologies, Inc. PRO SE
526 West 26th Street
Suite 710
New York, NY 10001
Tax id: 880409261

Petitioning Creditor represented by Debra J. Guzov
Russo Corporation Guzov Ofsink, LLC
720 Milton Road 600 Madison Avenue
# 1 14th Floor
Rye, NY 10580 New York, NY 10022
(212) 371-8008
Fax : (212) 688-7273
Email: dguzov@golawintl.com

Petitioning Creditor represented by Debra J. Guzov
Anthony R. Russo (See above for address)
720 Milton Road
# 1
Rye, NY 10580

Petitioning Creditor represented by Debra J. Guzov
Richard W. Lucas (See above for address)
47 Hoffman Lane
Blauvelt, NY 10913

Petitioning Creditor represented by Debra J. Guzov
Roger Rosenberg (See above for address)
Corporate Finance Consultancy
16293 East Dorado Place
Centennial, CO 80015

U.S. Trustee
United States Trustee
33 Whitehall Street
21st Floor
New York, NY 10004
(212) 510-0500

We may need to run a tutorial on Pacer. BK's are not very common, so it is no surprise that most investors do not know how to use Pacer.

1. A user must register to access Pacer.
2. Pacer does charge a fee -- currently $0.08 per page. Depending upon your usage, there may be other fees.
3. Pacer is available to anyone with a credit card to register.
4. READ THE INSTRUCTIONS on the Pacer website.

Or, you can wait for ESMT to post this "material information" on their website, along with the delinquent 10-K, 10-Q's......

Yours in PROFITABLE investing,
CuriousKO

So sorry to disagree, Uma. Look it up in the online PACER database for bankruptcies.

http://pacer.psc.uscourts.gov/psco/cgi-bin/links.pl


US Bankruptcy Court, Southern District of NY.
Bankruptcy Petition #08-14285-alg

Assigned to Judge Allan L. Gropper
Filed on 10/30/2008.

Look up the other two yourself. You may need the practice with the PACER database.

ESMT continues its legal adventures. Wish the company was as good in business as it is in the courts.

Involuntary BK filed for ESMT and IVI in the Southern District Court of NY.

E-Smart Technologies, Inc. #08-14285;
IVI Smart Technologies, Inc. # 08-14283;
Intermarket Ventures Inc. # 08-14326