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What kind of press release doesn't provide any information? We signed a joint venture agreement, but we can't tell you who it is, but please believe us when we say they're well-respected and reputable. You know it's a scam when the CEO has to provide a quote that directs shareholders to the "material fact" of a press release, and then, it doesn't provide any information and the BS is no longer convincing. It must have worked on someone though who bought at 0.085
Especially when the latest financials (as of Dec 31), show only $27k in assets and over $1M in liabilities. Yet according to his latest press (false) release, Schroepfer "is finalizing negotiations to acquire new smokefree cigarette products already in distribution in Europe". I don't see how he's going to fund that acquisition when the company has no cash nor fund his move to sunny California as well as all his global jetsetting. Though he said he's paying for it with his own funds, I suspect that means he's selling his own stock that had since been restricted.
Next news/press releases will be that Mr. T is going to jail and the company's operations will be wound down ... it'll be another company to add to the list of failed POS's like Spongetech.
You speak the truth! This company has nowhere to go but down, down, down ...
You speak the truth! This company has nowhere to go but down, down, down ...
Yes, keep waiting and be patient. Mr T still has more of his shares to sell so he can cash out of this so-called company and start his next scam.
It's never going to come out. BBB is making it up.
I have nothing to worry about; I've only made true statements about this company based on publicly-available information.
If Mr. T discloses material non-public information to you over the telephone and doesn't disclose such to other investors through a press release, he's violating a number of SEC and disclosure rules. Moreover, if you trade on such, you're in violation of insider trading laws, whether your actions were intentional or not. If you don't want to get arrested, you shouldn't be calling Mr. T and asking about what's going on with the company; he should be tell us through the timely issuance of press releases.
Calls and e-mails don't delay sales of products and don't delay the issuance of press releases that announce major orders from distributors. BBB is a classic pumper, and with so much money invested, he's looking for suckers to hold the bag when this company collaspses. If management was truly in charge of this company, a few e-mails and phone calls wouldn't derail major deals. This is a joke! Also, if Thomas was in charge of company, he shouldn't have to wait to a good PR to become fully reporting; if he believe in HIS OWN company, he would issue press releases regardless of the impact they may have on the stock price. Again, this is a joke and a complete scam!
There's always an explanation ... maybe this time, Mr. T's wife's cousin's roomate's brother died, and he's mourning the loss.
Every week, for at least the past month, BBB says that PR will come out ... nothing's cmoe out so far. I don't trust him more than Mr. T.
I'll make money any which way I can, but it's not going to be on this stock; no revenue = no profit = $0.000000001 share price. Only money you can make is to short it and wait for you dreamers to keep buying and buying and buying on news/earnings that'll never come.
They don't have revenue nor any profit ... they have yet to release their non-compliant "financials" which look like they could be completed by a fourth grader.
They corrected the SEC Form, but it indicates they've only made between $1 and $1M in revenue ... far less than the "expected" or "anticipated" figures put out there in previous press release. Why should we even believe any PR they issue since none of it has come true and it always speaks in generalities versus concrete evidence or figures? Moreover, if you're going to be a fully-reporting company, you cannot tell certain investors about PR and earnings release PRIOR to them being released ... there's rules ( Reg D) about such and someone (like myself) already reported such to the SEC.
All executives are required to sign their SEC forms; his name is posted on the bottom of the page, meaning he signed off on the submission. If he claims not to have seen it, there's clear evidence he has no clue what the heck he's doing and shouldn't be running this company whatsoever.
Tom never saw the form but signed it, and it was going to the SEC. And he's runs this company?!? LOL!!!!!!
SEC Form filed in error. Yeah right! How do you "accidentially" overlook that you indicate your company has NO revenues, knowing its going to be public record and in the public domain. If you had revenues, you'd be all about publishing it and promoting it. The simplest answers are usually right, and in this case, that would be that SFIO has NO revenues and will have NONE for the foreseeable future.
It's a mid-term election year, so be careful with oil plays ... politicians will try to keep gas prices down as much as possible throughout the summer to keep people happy, mostly likely by authorizing outflows from the strategic reserve.
The only thing that will come in the second-half of May is silence from SFIO management and further news from the "industry" that the FDA will continue to ban imports into the US indefinitely and/or state legislatures will continue to pass legislation to prevent and/or restrict sales in their respective jurisdictions (for updates, see http://www.ash.org/)
Only thing that will save this stock would be a surprising financial report or major purchase order announcement, which is doubtful at best and probably won't happen at all if past actions of SFIO management are indicative of their future performance. Also, when I say announcement, I don't mean an "expectation" or "estimate" because SFIO continues to use lofty language in press releases, and we've all discovered now that was all for promoting the stock and allowing them to raise the float/capital structure for the benefit of SFIO management.
Based on SEC filing, SFIO has no revenue ...
Source: http://www.sec.gov/Archives/edgar/data/1484703/000148470310000002/xslFormDX01/primary_doc.xml
Section 5: Issuer Size - Mr. T checked the "No Revenues" box and he filed the document on April 15, 2010.
Even worse, he increased the offering/float of securties being offered and didn't feel the need to announce that; after all, mourning the loss of a teaming partner is more important than telling shareholders their shares are now diluted.
I wonder how much shareholders will get from all the houses and fancy cars he purchased using shareholder's money once the SEC and DOJ seize his assets and throw him in jail alongside the executives at Spongetech. Maybe that's why we haven't heard anything; he's hiding out.
In Mr T's mind, his personal mourning is more important than his shareholders; after all, he already took all over their money and is living comfortably. He's focusing his time on the new issuance of shares for the next round of bilking.
Here's a preview/estimate of the financials, if SFIO ever decides to release them:
Assets:
Cash - $10k
Liabilities:
Loan from Shareholder - $149k
Accrued Expenses - $459k
Note Payable - $70k
Loan Payable - $424k
Line of Credit - $417k
Equity:
Common Stock Issued - $15k
Additiona Paid in Capital - $115k
Treasury Stock - 0
Retained Earnings/Deficit - (-$1389k)
Income: 0
Expense: $300k
Loss: ($300k)
If SFIO can't even comply with SEC requirements with respect to listing and financial reporting, there is no way they're going to be able to comply with Federal Acquisition Regulations (FAR) in dealing with the military. They'd have to team or subcontract with another supplier, which hasn't even been announced yet. Considering they're all about announcing partnerships and distributors, we have yet to hear anything about that so there's no military deal in the works.
Difference between CA Bank of Commerce and SFIO is that the Bank said it was going to release earnings on this date, and it actually followed through with what it said and did. SFIO has said a lot and done nothing; then again, that's there business model: sell an idea to shareholders and get their money, but do nothing more after that.
Yes, something good is coming: the death of this company as the truth starts to come out. Time to begin short-selling as much as possible.
Regardless of your thoughts or my stance, teh fact remains: SFIO Management feels the death of a channel partner warrants a press release to be disclosed to shareholders, whereas the Form D filed on 04/15 disclosing the issuance of millions/billions of shares and warrants don't need to be disclosed, even though it dilutes existing shareholders' value. Apparently, those vending machines are generating enough cash that they have to double their shares outstanding to fund their operations for another year; press release about the channel partner's death is just a ploy for them to get some more suckers to buy those shares once they start releasing them into the float.
Yes, when your own company's executives pass, it's appropriate, but not when it's another company's. As far as my true colors, I could care less about any of the people involved at this point; once some income is being earned and/or the pps increases, maybe I'll have a change of heart.
Another worthless press release and waste of shareholders' capital. Time would be better spent on releasing financials. You don't see major corporations making public statements about mourning the loss of their suppliers and channel partners; they have better things to do.
Bookkeepers and accountants are supposed to provide statements that accurately reflect the financial status of the company, not what the directors and executives want their financial status to be. Yes, there is some room for toying with the numbers, with accruals, assumptions, et cetera, but not to the extent that SFIO appears to be doing such. If you're looking for a profit, look no further than the 3Q. Due to the Prior Period Expense (Credit) of -$384,000, the current period P&L improved $176,511, despite their lack of revenue.
Also, if SFIO is claiming that they want to move to a "recognized" exchange like the OTCBB, you don't get there by cooking your books; auditors will have to be brought in before then and issue findings/statement. I assume SFIO doesn't want to have to re-state a year or two's worth of financials upon their listing; that wouldn't bode well for their stock price at that time. TS' conversations with shareholders and posting on other message boards isn't looked upon fondly by the SEC either.
Finally, I'm shocked how many posters on this board "read" into the press releases (which are full of qualifiers: would, could, should) and make bold statements without any substantiating such with due diligence or data. Everyone's entitled to an opinion, whether its bullish or bearish on the company, but from those I've read, it has no grounding with what the company is reporting. SFIO needs to clear the air as their press releases and financials don't correlate whatsoever.
Based on their published "financials" on the PinkSheets, there is some interesting accounting being done ...
Current P&L (3Q) - Prior Period Expense (Credit) in the amount of $384,000.
Accrued Salary Expense (3Q) - despite $386,500 being accrued and re-accrued in 1Q and 2Q, the amount disappear in 3Q.
Note Payable versus Loan Payable - Note Payable has been paid down while the Loan Payable (Long Term) line-item has increased markedly
Additional Paid in Capital increased from $0 in 1Q, to $40k in 2Q, to $115k in 3Q, despite no additional shares being issued and treasury stock remaining the same.
Investment in Subsidiary didn't appear in the 1Q or 3Q financials, but appeared in the 2Q.
Doesn't make any sense to me, despite TS' comments about hiring an external auditor / accounting firm to handle the financials. I'm also troubled that SFIO spends twice as much on their phones as on their marketing/advertising, and nearly 18 times as much on their press releases as on their marketing/advertising. The only way to sell product is to create demand from consumers, and press releases aren't going to accomplish that; only aggressive marketing/advertising will accomplish that. Press releases are good for selling stock and window-dressing.
Finally, some statements from their one "true" disclosure statement to issue shares: "On December 21, 2008, we entered into an agreement to sell 100,000,000 shares of the Company’s Common Stock to Thomas Schoepfer for licensing rights to certain patents regarding a smokeless nicotine delivery cigarette like device, thereby increasing our outstanding common stock by 10% or more ... Thomas Schroepfer - 206,071,510 - 55.2%" Also: "The effect of existing or probable governmental regulations on the business - There are no existing or probable governmental regulations on our business activities, since the device falls in the category of a neutricuetical, with the amount of nicotine delivered comparable to that found in standard daily dosages over the counter medications such as flush free niacin."
How do you report that you won't be subject to governmental regulations since it doesn't contain nicotine, yet are investigating FDA approval and stating publicly that such is a nicotine-replacement thearpy of sorts.
All of this conflicting information smells fishy ...