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Love that bid
Gotta believe they could lower the bid to .004 and, that the stock would be selling there, or lower, no one is buying this POS
Wait until the Q
Wait until the forensic audit of amounts due PNCH is complete from the airport contract and it turns into a big zero
That is the story of this company, one big waiting game and nothing is going to happen
Please do not use the term invest.
This is nothing more than legal gambling based on the past performance of this company and the bipolar nature of the CEO
Materiality
The question here is was the contract material to the company.
Given that Mr. Steve indicated that the revenue per airport was over $192,000 and said amount was more than the annual revenues of the company.
Given that he spoke about a multitude of airports resulting in millions in revenues
Given that he was touting the deal on stock radio and the internet, the contract should have been filed with an 8K
The fact that Clearchannel did not think it is material to them is moot. It obviously had no impact on their operations or profitability.
The fact that their name and contact info is included in a free PR is moot.
The fact is that this contract should have been disclosed and filed given the fact it was used to promote the stock and the companys future prospects.
The fact is two years later there is no revenue proves that the contract wsa not everything it was claimed to be, that the revenues were not guaranteed and Mr. Scamblis only touted the positive aspects of the contract and not the potential for the contract to be worthless
Another venture and announcement for the public to consume, and not be advised when there is a change to same and is not working.
Quite frankly why we waste our time talking about a company that had a one for 30,000 reverse, wiped out most of its shareholders and continues to be able to sell its toxic debt to Asher and others and then have enough promotion for them to sell their converted shares in the market place is beyond me. Certainly those financings have not helped to build the company into anything of value
Read the Last 10Q
If you read the last 10Q you will see that the thiefs known as Asher Financial or some other lenders, converted shares and that based on the date of the latest filing there are nearly 600,000,000 shares of this POS outstanding.
Only God knows how much more has been converted since then.
In addition, Scamblis returned all his common shares and now owns 240,000,000 preferred shares that can be converted to 2,400,000,000 shares even if there is a reverse stock split. Somehow the Directors felf that he should not be effected by any reverse being he has done such a good job to date.
So, only god knows who sold the 45,000,000 shares yesterday.
The PR added a lot of volume today
I guess there is a lot of portfolio dressing today being the end of the quarter.
Where are all those buyers of PNCH who want to show they are part of the smart money?
It means nothing.
Another meaningless PR by Steven Scamblis which will result in no revenue.
Admit it, another reverse will come soon. He will pray to get the stock back on the bulletin board and continue to hype this POS.
No cash, no sales, no nothing.
Take off the prepaid expenses and you have a company with 22,000 in assets, assuming the cash is still there. The fixed assets are worthless. They certainly can never be sold for their book value.
The company is technically bankrupt but which three creditors would put them in bankruptcy? They would get nothing and no attorney would handle the case as they would not get paid,
A sad story on a sad company with a president who has accomplished nothing since he started this venture.
There are so many shares and potential shares outstanding this is just a bloated pig.
What is his new name?
Does it really matter?
With 100,000 shares on Friday worth $10 it is obvious the company and its CEO have no followers.
Could it finally be that people see the emperors new clothes?
Tootles
I am back
Took a couple of days off to visit my family.
Looks like nothing has changed.
Can't wait to give you some thoughts on the last 10Q.
Nice to see $10 of trading volume for the day. That certainly is encouraging with respect to the risk factor of raising capital.
Oh well, maybe Steve will surprise us with some good news like another reverse split, another deal to obtain revenue from airport lounges or some type of revenue sharing agreement with the girl scouts on their cookies.
Good luck to all.
Not a lot of days left til the end of the Quarter.
Can hardly wait to see all that revenue and the new number of shares outstanding.
With yesterdays dollar volume of $1500 it will only take 66 days to sell all of the shares issued when $100,000 of debt is converted,
Looked at another stock yesterday financed by Asher Financial, it made PNCH look like a Fortune 500 Company. While the SEC is looking at the microcraps, they should look at this financier also.
How the f-ck would anyone loan to these companies if they were not complicit in their market activities?
With 43 cents
With 43 cents you can
a) Buy 8 pieces of bazooka bubble gum and have three cents change
b) Buy 1/10th of a medium latte at Starbucks
c) Buy one can of Sams cola at Walmart or
d) Buy 100 shares of PNCH
Why would they be indicted what crime did they commit?
Why would the bottom flippers care
Lets see. On a daily basis there is no significant volume or large number of trades.
The various Boards and history tells investors that there is a high probability of a reverse split.
The last reverse split did nothing to support the stock or create any inherent value.
There still are no revenues.
There is a lack of credibility with respect to management.
There is a gagged transfer agent so, with the exception of speculation, you don't know how many shares are outstanding.
None of the Company's partnerships or theoretical press releases about different "contracts" have yielded one dollar in revenues.
The Company is controlled by the Chairman whose 2005 employment contract is only exceeded in the arrogance of giving himself the equivalent of Two Billion Four Hundred Million Common Shares which, are not affected by a reverse split.
So, who are you going to flip this to? The toxic lenders have enough stock when they convert their debt and they have to find their own buyers.
Mr. Samblis has been quiet with respect to PR because either he does not have any or, he has been told to stay silent until the SEC review of Mr. Messineo, the former CFO of IC Places is complete.(The SEC review was reported in the Wall Street Journal).
So, who out there is going to buy this and, if they buy it to flip, how much can you make? If you bought say 2,000,000 shares for all of two hundred dollars (2,000,000 @ .0001). Try to sell them without affecting the price. With the exception of the rare day when 100,000,000 shares are traded, where is the volume to absorb these shares?
Even the Boards have few people who have a decent thing to say about the Company, its management or its prospects.
No need to rush and think you are going to miss anything. Even the facebook page is quiet.
Who knows, maybe they are hiding some inherent value on the balance sheet that has yet to be discovered, but I tend to doubt it.
I was wrong
Stock went up triple digits today not double digits.
Assuming all shares were bought at .0002 a very impressive $1164 dollar volume today.
With less than 10 days until the end of the quarter, what new announcements are coming.
Anybody betting on the number of outstanding common shares as of Sept 30th. I bet it is over One Billion Shares Outstanding.
I am also willing to bet there will be an extension filed on the Q.
Any takers - say 1000 shares of PNCH double or nothing.
Charlie - do you still think this is a scam?
Re: Charlie 48
I am shocked you say that.
With all those good pr announcements and pictures of Mr. Samblis with all those celebrities waiting to get on the Board of Advisors or Board of Directors of a public company, please Charlie you must be kidding us.
Where else but in America could you have a company with a market cap of over $60,000 and a stockholders deficit of approximately $600,000 be filing with a governmental agency, have audited financial statements and be involved in so many up and coming industries that they are to numerous to mention.
Todays heroes Apple, Facebook, Google, and tomorrow Alibaba all started with a dream by a visionary. Unfortunately some dreams are more like nightmares and sometimes a visionary needs glasses.
Guarantee that if there is any kind of volume tomorrow this company will go up double digits on a percentage basis.
This is not a scam. Look at the financials, cash on hand increased by over 15,000% in the last quarter as compared to March 31 and the Company held in line its capital expenditures.
A new accounting firm determined that expenses in prior periods were overstated by $50,000.
We are on a roll and there is nowhere to go but up.
With ten days to go until the end of the third quarter, I guarantee you the Q will be delivered faster than the second quarter because of all of the changes implemented.
Stockholders like Asher Financial must still own their shares as I did not see a filing that they disposed of same.
This stock is cooking and ready for the future.
All we need now is some good publicity and it is off to the races.
Got to go, I sold some 100,000 shares today and just bought a 6 pack of Reids soda. Going to have a nice cold one on ice.
How is everyone today?
Maybe we will see a $200 day in terms of dollar volume.
Good luck to all.
I still have to understand the debt footnote but, I am sure I will in the next few days.
I can not comment if Mr. Samblis is a failure as a CEO.
The fact that there is no revenue may be due to factors beyond his control.
Whether or not he has lost interest in the Company is something I would not know or be privy too. It does not really matter. The stock traded less than $100 in volume today.
All Mr. Samblis has to do is keep this company current and sit on the sidelines. When he believes that there is a viable or synergistic business to acquire he can do so based on his shareholdings and Delaware Law. Based on his ownership percentage, he has carte blanche to do what he wants.
Those are the facts. One more reverse and he gets rid of some more shareholders at a cheap price and then can start this all over again. It does not appear that the regulators care and if Mr. Samblis cared, please provide him or this forum with one idea that could put some life into this Company one with no cash, no personnel, no fixed assets and a potentially huge dilution coming.
At some point the schmoozing has to stop and the results have to begin. When that time comes, only god knows.
Could cross the $100 dollar mark today.
First trade - $10
Followed by an impressive $30
and now a $50 trade
Retail buyers coming in fast and furious -
Wait til the news hits the tape - this is a juggernaut ready to explode
Good morning to all
I am going to the airport to fly out to see my son.
Can not wait to be at the gate and see all of those IC Places television shows and advertisements and see that money rolling in.
Then when I arrive in Orlando, I am going to book my night spots through the IC Places web site and make sure they earn their commission.
Hopefully, I will not trip and have to go to the Doctors office. However, if I do, I will be able to see more advertising there courtesy of IC Places.
Of course, when I fill my prescription, I will use my pharmacy card.
If I do all that, I will have generated more revenue for the Company than all of its customers for the past few quarters.
Best of all, some of the brokerage houses advertising on Ihub are offering free trades. With all of that revenue coming in, I cant wait to buy some PNCH stock. I guess I will be after the first 60,000,000 are purchased at the bid.
Got to go now and put in my buy order so I don't miss out on this once in a lifetime opportunity.
Wow 100 Shares @ .0004
Big Trade - not even worth a plug nickel.
At that rate, all Asher needs is 625,000 retail trades to get his $25,000 back.
I am very impressed
I am impressed with the volume. At .0002 per share, that means a big $25,000 in dollar volume today.
with 60,000,000 shares at .0001 that equates to $6000. Assuming conversion of debt at .000035 that means for every $1,000 there is roughly 30,000,000 shares issued. So, assuming $25,000 of toxic debt is converted, there goes another 750,000,000 shares issued, having a market value of $75,000 (assuming a price of .0001 per share).
Based on Four Billion Shares Outstanding, assuming one has to reserve the Two Billion Four Hundred Thousand Shares reserved for the conversion of the preferred, and you are out of common shares very quickly.
Again, we have not seen the terms of the preferred, nor have we seen the full description of the preferred, but assuming you have to reserve the common, there are two options available (1) Increase the authorized or (2) Do another reverse.
May I humbly suggest that Steve find a CFO or someone who knows something about finance and he just focus on hustling investors and finding a business model that people can believe in.
This is a sad commentary on capitalism. Even Joab could not endure this type of pain and suffering.
Just do another reverse and put everyone out of their misery.
Admit you have no business
Find a partner who has a credible business
Give up control of this $10,000 market cap company and start over
Meadow 2009 where are you?
Meadow please tell us why the Company restated a $246 depreciation adjustment but did not restate a $50,000 error in stock compensation?
Meadow, please help me try to rollforward the stock info. it doesn't make sense based on how I read the common stock changes.
WTF is all the interest expense and, where is the changes in the debt and the derivative liability, I can not figure it out.
Meadow, how come the loan of the $25,000 was not in the subsequent event footnote in the first quarter.
Please, Meadow come back and help us. PLEASE
why not just say in Note 1
Common Stock Holders
The Company's policy is to enrich its toxic financier and its major stockholder and only director. In the event of liquidation, the holder of the convertible preferred stock (which happens to be the Chairman and Sole Director of the Company), receives the first $240,000,000. After that, you suckers keep the rest. In essence, you get nothing.
Reverse Stock Splits
The Company has had three reverse stock splits since its founding.
While there is no formal policy about the Company declaring reverse stock splits, in order for the Company to be reinstated to the Bulletin Board, the stock price must rise to one cent.
Absent a tsunami in Kansas, the chance of the stock getting to one cent is remote, accordingly, purchasers of common stock should plan to see a reverse stock split in the near future.
Revenues:
Revenues are recorded when and if, earned.
Control;
The Company is controlled by its Chief Executive Officer who is delinquent in his child support obligations, been charged with and fined by the Securities and Exchange Commissioin, is facing a civil law suit about non-payment of the rent on his home and is an inherent liar and serial deceiver on his postings on Facebook and other social media.
While this pattern of behavior may not repeat itself in the future. Stockholders should be aware of this pattern of bad behavior.
Have a great day as this stock wallows in the basement and Scamblis laughs at those who buy this toxic waste dump
There will always be a bid.
Your Chairman must have a lot of friends in the financial community who are as shameless, shocking, selfish, and slimy as the king of scam, the honorable Steven Scamblis.
It is obvious based on the deals he makes and the discounts to the market, that the toxic, greedy, manipulative, mafia type financiers have made enough money on this piece of excrement that they are willing to roll the dice with the houses money and still fund a company with no revenues, minimal assets, a huge working capital deficit and a large portion of their current assets being bloated by prepaid expenses which have no continuing value that Mr. Kramer of Asher Financial and whoever else is financing this heap of dung, believe scuzzy Steve will always find a sucker to buy this stock.
Time to make a course in investing or the stock market a required course in high school so future generations will be taught how to be aware of people like Steve and how to run not walk when they meet them.
Shame on all of you and shame on the SEC for letting the public be preyed upon by these underhanded and deceptive individuals.
Amazing
Amazing, many of the issues and non disclosures which were brought up on this board are finally in the financials.
What does it mean...nothing.
Mr. Samblis has screwed the shareholders and it is a very small sentence in the Form 10Q.
The convertible preferred conversion rate is unaffected by a reverse split. So, lets assume there are one billion shares outstanding of common stock and the company has another reverse, say one for 50 - that would mean that there are now 20,000,000 common shares outstanding.
If Steven were to convert the preferred stock, he would have 2,400,000,000 shares or over 99% of the Company.
As he has ten votes per share, he does not need to convert as he has control and, being that the conversion rate is not adjusted for any reverse splits, why convert and potentially be diluted via future reverse splits.
The toxic financiers are not affected by the reverse splits because there debt is converted at a discount to the market and also is not affected by reverse splits between the time of the loan and the conversion of their debt.
This company survives, if you can call it that for two purposes, to make the debt holders rich and for Mr. Samblis to continue to suck out the cash by way of "t&e" and other "business activities"
As for Charlie's comment to sell the shell, who would want it with the huge amount of debt outstanding, possible conversion of debt to equity and only god knows that other liabilities are out there.
You can buy a shell today for next to nothing. If it is not reporting and has had no activity for years big deal. All you have to do is hire a CPA to prepare the past due 10-Q's and 10-K' and you are now current.
Put together a quasi business plan, pump up the stock, and your on the bulletin board.
I guarantee the SEC wrote to Steve asking questions about his filings and he came back and said that he relies on his accountants to make sure that all the disclosures are proper. He will accept their comments, discuss them with his new accountants and make sure that future filings are complete.
No penalty, no fine, no nothing.
Sneaky, Shitty, Shenagin Samblis Screws the Shareholders with a complicit SEC.
Where is meadow2009 for his/her analysis of the Q
I am waiting for it.
I read the Q and do not understand how many places interest expense appears in the footnotes.
I also am rereading the notes to try to find the last date mentioned in the notes and the gap in time between that date which I assume is the date the accountants were finished and, the date this Q was filed.
Why the delay since the August 20th date on facebook.
What was the volume of the stock between August 20th and today?
Were there any huge days? Did anyone have access to the Q between 8/20 and today to be able to sell shares before the Q was published?
Meadow2009 where are you? We need you?
Proposed Press Release
Four weeks after filing for a request for a five day extension with the SEC for filing the Second Quarter Form 10Q, and three and a half weeks after posting on face book that the Q is set to be filed any day, IC Places, Inc. regrets to inform you that we have still not filed our Form 10Q.
According to Steven Samblis, Chief Financial Officer,
"Our Smith Corona typewriter and Commodore Computer which we use to run our daily business are out of ribbon and memory, respectively. We were on Ebay and are replacing this equipment with a new IBM PC Junior which, has enough memory (286KB) to keep track of all of our sales, customers and numerous press releases.
We are confident that as soon as the new equipment comes in, we will file our 10Q as quickly as possible.
I am pleased to announce that we have several new shows in the making including the Ray Rice Story, subtitled How To Almost Murder Your Wife and also another reality TV series entitled Pretty in Pink, Pumping your Company Stock Price Up On Nothing But Air
I am very confident about the future and looking to shortly move into larger quarters to keep up with our burgeoning business and stay one step ahead of the Sheriff
Naturally, I am always available to discuss your company prospects, at the local tranny bar."
Sincerely,
Steven Scamblis
Fake Quote
Obviously a fake quote.
No buyers or sellers at these prices. Thus, it should be at a lower price.
I guess Mr. Samblis has a deal with the market makers to show a false and misleading price to see this stock completely destroyed.
Maybe if you built a real company, you would see real prices and real interest.
Enjoy your Reids soda, It is not bad if you add a little vodka. It goes down much easier and you don't choke on it when thinking of the press release indicating your first corporate sponsor. How much did they pay for sponsorship? A case of reeds soda for the shareholders to split?
Another day, for Shameless Steve to not file the Form 10Q and continue to see this stock trade on the pink sheets.
Only God knows how much money he made when he and/or his affiliated entities made when they sold stock in the Company. While Shameless Steve can claim he did not sell any stock, then the beloved CEO should show the world a roll forward from the start of the Company showing how much stock he owned at the formation of the Company and how much he bought or obtained from his 2005 employment contract year by year.
This will only prove that he never sold. No one knows what deals he had with affiliated entities where he may ever have sold stock.
Of course, this proposed stock analysis is wrought with other problems for example, if he did not own more than 51% of the outstanding stock at the end of any given year, then did he formally waive the clause for that year in the employment contract which required him to own more than 51% of the stock, or were the financials wrong that year, in not accruing for the stock theoretically owed to him? It should be easy enough to prove his holdings, confirm his holdings with the transfer agent and confirm the outstanding shares at the end of the year with the transfer agent.
Then there is the question of disclosure. Were the 10 k's materially misleading that the employment contract was not disclosed or included as an exhibit to the 10K at any time.
Who reviewed the 10K and signed off on same. If an attorney reviewed the 10K is he guilty of malpractice? How about the CFO, who signed off on the 10K is he also guilty of misleading financial statements?
So the real question is how many of the CEO's friends will back him if and when the SEC comes knocking at the door. I believe at that point is that it will be every man for himself.
Have a great day.
Jail is to good for him.
Lets first start out with tax fraud.
Then, possibly securities fraud for any number of violations.
Then, lets see if the SEC can pierce the corporate veil of Delaware Law and have some real fun for some of the excesses he has done.
When its over, time to focus on his assistants and partners in crime, the financiers.
Almost 3:30 time for a final trade to paint the tape.
A disgrace to humanity and capitalism.
IC Places, I see nothing but losses and trouble in the days ahead.
Another Qless day.
I can only imagine that the financiers and even the management of IC Places, are selling as many shares as possible while the stock is still listed.
I noted on the rules that unless the market makers back no longer will trade a stock, that this Company stays on the pinks for a long time.
The OTC markets does not put a stop sign as a warning until two Q's are not filed and thereafter, put the toxic sign.
Anyone buying this stock probably does not go to the OTC market website and, looking at the boards on this site and the other site, it appears that we are all talking to ourselves.
So, my prediction, is the Company will, with the consent of its financiers do another reverse probably in the first quarter of 2015 and squeeze out the remaining public shareholders to next to nothing, the management of the Company will convert their preferred stock into common, the terms of the conversion with respect to capital changes is not known or at least disclosed, and the whole scheme will start all over again with a new cast of characters.
Mr. Samblis will pay his rent or move to another location in LA and be laughing at all those who believed that one man could build a Company in an industry where more have failed than made it.
I have both a canoe and a boat.
Both vessels have a very big capacity to fill it with profits.
The question is which stock will be the one to help fill up the sailing ships...or, do I just need a raft big enough for my rubber duckie.
I must be dreaming that this Company is going anywhere.
Amazing, three of the nine SEC clients that Hartley Moore have, are either late or provide no information.
Why did the Company change accountants and auditors?
When can we expect to see a Form 10Q which is very late.
It is now 72 days after the end of the Quarter and still no info.
Will the filing ever occur or, is this thing going into the abyss.
With no news, a limited number of trades, low volume and a history of operating losses this looks like it is toast.
Remember only 19 days until September 30th - maybe they can file the second and third quarter together.
Perhaps the independent CFO can put the Q together. Oh, I forgot, the CFO and CEO are one in the same.