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That's ridiculous! IMO (and most everyone else's I would think).
In order for that to have any validity, you'd have to be suggesting that Sutton set out to raise millions from penny-stock 'venture capitalists' to not only pay his salary and repay his 'convertible debt' (with a VERY handsome return), but also to fully fund a brand-new start-up so that it appeared to be some sort of LED 'market leader/pioneer' that, subsequently, would then likely be rewarded with a highly profitable public contract.
If that was the 'business plan', it was stupid at best, and wholly unworthy of the capital risk at worst (of course it wasn't HIS money that was being put at risk now was it?).
I'm not sure I could even be convinced that Sutton had initially hoped things would work out favorably. Regardless, we certainly know that they didn't, not even close (just like every other 'venture' he's been involved with). It also seems evident that he didn't really care either. Why? Because he milked them for all they were worth (to his sole benefit) before, during, and after the writing was on the wall. All done, repeatedly I might add, with very little regard as to what it might ultimately cost shareholders (everything!!).
Hopefully it'll get to be as 'fun' for him as it was for everyone else...he's got a whole lot of explaining to do now that the SEC has come a calling.
Oil.
This was one of my all time favorites!
SavWatt Adds Solar to Its Product Line
Date : 02/06/2012 @ 10:47AM
Source : MarketWire
SavWatt USA, Inc. (OTCBB: SAVW), pioneers in LED lighting and the Green Revolution, today released a business update summarizing some of the company's initiatives:
Revenue Forecast: 1st quarter 2012 will end our development stage classification and our revenues will begin in 2nd quarter 2012. We have several substantial projects due to close this quarter and we are on target to exceed $10 million in revenues for 2012. California operations will begin in the second quarter of 2012. Due to the nature of the market SavWatt will enter the market creating "SavWatt Depot," a one-stop shop for contractors and homeowners to pick up energy-efficient home products including LED lights, solar panels, solar water heaters, solar pool heaters, battery storage and other energy efficient products. A 12,000 square foot facility in San Marcos, California is currently being renovated for this launch. The facility will also serve as the company's west coast offices. Based on this new addition SavWatt's sales forecast for 2012 is $15 million.
2012. So far, another year of Sutton 'glory'.
January 05, 2012 10:06 ET
SavWatt CEO's New Year Message to Shareholders
BALTIMORE, MD--(Marketwire - Jan 5, 2012) - SavWatt USA, Inc. (OTCBB: SAVW), pioneers in LED lighting and the Green Revolution, today released a New Year message from SavWatt's CEO, Mr Ike H. Sutton.
Dear Shareholders,
We are now at a pivotal point in SavWatt's history; 2011 has closed with a long list of accomplishments and we are starting 2012 with a long list of goals. Building a new business takes focus, determination, and support from all those involved. We are slowly becoming a major force in the new LED revolution, a supplier of a product which is a game changer for an industry that has been around for 100 years, and an innovator of new technology for energy saving and green initiatives.
Our 2011 accomplishments are attributed to the efforts of SavWatt's team which is now 30 and growing. I would like to highlight a few:
•We have completed Phase 1 of the Baltimore facility build-out; our LED Quality Control Burn in Machine has been installed and tested. LED Bulbs are put through a 6 hour testing regimen before being shipped to clients providing the highest level of quality control in the industry and enabling SavWatt to offer a 4 year warranty. Additionally, 2 assembly lines have been installed to produce orders that require Built in America status which will make available US government stimulus funds.
•Company sales offices in New York, Florida, Virginia, and soon to open in California have been established and staffed. Our focus has been areas with high cost of energy -- note each of these areas the cost of energy exceeds .15 per kilowatt, which makes LED bulb replacement a must.
•International subsidiaries have been established in Asia and Europe in anticipation of global distribution of SavWatt products.
•An Exclusive Worldwide License has been entered into with P2i, a provider of a patented nano coating which will make our LED bulbs water and dirt resistant, a major differentiator from suppliers like Phillips, GE and Sylvania.
•Our Ecopoles have been installed in strategic locations for testing and continued to be installed and upgraded. These tests provide valuable information for deployment of thousand units worldwide in the upcoming years. The ecopole has been classified as art sculpture and is aesthetically acceptable by communities nationwide.
•Savwatt's web site, a project by itself. The site tracks all our products, specifications and uses. It tracks our ecopoles location with pictures, provides a calculator for all to see the saving affect of our LED lights, and is a repository of all news and sec information for our investors.
•Our products are constantly changing due to technology advancements in this area. We pride ourselves as being able to bring the latest technological engineered products to market before our competitors due to our size and determination. Our products consist of outdoor, indoor, and our totally off the grid ecopoles and soon to be released sunpoles.
•Our suppliers overseas and in the USA have recognized that our vision and marketing efforts are unique and have either entered into exclusive distribution agreements or partnership agreements to make SavWatt the brand of choice worldwide.
•We have attended several trade shows over the year and have developed a database of hundreds of Energy Solution Providers that are hungry for information and partnership; we look forward to developing these relationships.
•We have retained 3rd party consultants to apply for Carbon Credits for our ecopoles. With a projection of 10,000 units a $15 million carbon credit plan is in the works. Coupled with a successful forward sale of these credits, these funds will provide SavWatt substantial working capital for their deployment worldwide.
•Our shareholder based grown to over 3,000 shareholders and this is one of our major assets for the new year.
We, like any other business, had a few disappointments and we are dealing with them. Our relationship with Humanim was terminated as our vision and their boards vision parted ways. DTC which clears stock for all brokerage houses decided not to clear our stock electronically, creating hardship for shareholders to buy and sell our shares, but on a good note, it also limits the shorting of the stock. We are trying to rectify this matter but it is out of our control and is affecting all small micro cap stocks. Our quarterly filings in 2011 were late and we have taken actions to make sure that all our required SEC filing are made on time.
For 2012 we have many resolutions and goals, but to name the top 3:
•Share Valuation - we would like to see a major increase in valuation. Our industry values companies at a minimum of 4 times revenues. Our minimum sales goal for 2012 is $10 million. We have planted the seeds and in 2012 we should start to see the results of our efforts.
•Higher Exchange - we would like to move to Amex or Small Cap Nasdaq -- we are currently evaluating their requirements and creating a plan that will enable to achieve this goal.
•Cash Flow Positive - we believe that by mid-year we will be cash flow positive. Our projection, cash requirements, sales objectives are being monitored daily in order to achieve these goals.
In regards to funding and dilution, a touchy subject, which I receive many emails and calls daily, I would like to point out and remind all shareholders that SavWatt is a Development Stage company. We have accomplished a lot in 2011 but still are pre-substantial revenues; we are still not cash flow positive. We are raising funds through short term convertible loans; these loans when converted do dilute the stock. This method of financing is necessary to grow our business; we are not bankable and do not have a major company big brother. In fact all the shareholders should consider themselves venture capitalists. The alternative and easier solution to this is to accept a $10 million funding from a venture capital firm, give up control and 80% ownership and be subject to a share reverse and major dilution. I believe the road we have taken is best for all shareholders including myself. It provides the cash needed for operations and growth. Based on current share price and 3.1 billion shares outstanding as of today, our company has a valuation of under $1 million, as stated above our goal for 2012 is for a much higher valuation. As venture capitalists, building a business takes time and is not for day traders.
For this new year, I would like to thank the support of our shareholders which is our major asset. We have grown and developed due to their support. I have only one request for the new year that is in regards to SavWatt's bashers on online chat boards. Ask yourself why are they bashing SavWatt? If they are shareholders, why bash? This only creates negativity in the marketplace. If they are not shareholders, why are they on the board? Are they being paid for bashing? By whom and what's the purpose? And if they are really unhappy with SavWatt and the SavWatt team, get out of the stock and move on. Please do not listen or act based on basher information as they have an agenda of their own and provide misinformation to the determent of the company.
On a positive note, we are providing a product that saves energy, is green and is mandated by government regulations. The opportunity is huge; we are aggressively working our plan and we will succeed.
Happy and Healthy New Year and Regards to All.
Ike H. Sutton, CEO
SavWatt USA, Inc
About SavWatt
Fast becoming the market leader in LED lighting, SavWatt focuses on developing innovative, energy-efficient and cost-effective LED lighting solutions. By delivering value added, application-specific LED lighting systems, we can significantly reduce energy costs and minimize our carbon footprint worldwide. SavWatt is leading the LED lighting revolution and setting the stage to obsolete the incandescent light bulb. SavWatt's product families include LED fixtures, bulbs, street lights, and parking lights. For additional product and company information, please refer to www.savwatt.com. To hear audio updates on the company, text SAVW to 46800.
This press release contains forward-looking statements involving risks and uncertainties, both known and unknown, that may cause actual results to differ materially from those indicated. Actual results may differ materially due to a number of factors, including the risk we may encounter delays or other difficulties in ramping-up production of our new products; the rapid development of new technology and competing products that may impair demand or render SavWatt's products obsolete; and other factors discussed in SavWatt's filings with the Securities and Exchange Commission, including its report on Form 10-K for the year ended December 31, 2010, and subsequent filings.
SavWatt and Eco-Pole are registered trademarks of SavWatt USA, Inc
In other news...
Ike Sutton, CEO of SavWatt USA, today announced that, "Given we have never created anything unique or proprietary, nor have we ever sold much of anyone else's stuff, henceforth, we will be discontinuing all references to SavWatt being a 'pioneer' in LED lighting and the Green Revolution. As well, we are now in a position to definitively determine that earlier projections of $10-$15 million in 2012 revenue along with imminent cash-flow positive status may, in fact, fall a little short".
The press conference ended with Sutton being heard to mutter to his attorney, "How the hell can my ship go down if it's in a Safe Harbor?". As such, Mr. Sutton was expected to be shopping for a new boat..the only question remaining; will he try to sell it, or will he try to sail away on it?
Oil.
(Disclaimer: the above clearly does not fall under safe harbor provisions and is obviously NOT an actual statement from Ike Sutton or SavWatt USA. It is clearly for entertainment purposes only, and if Ike and/or his attorneys have nothing better to do, I suppose they could venture up to Canada after all in effort to prove how bad a guy I've been.
"Questions have arisen..."
Really? Ike Sutton may have put out something inadequate or inaccurate?
Seems so unlike him. He's never done anything that would lead me to believe he's not just a straight-up guy working extremely hard for the benefit of all shareholders.
I'm sure there's nothing to it. I'd hate to see him have his good name tarnished. Hopefully, the SEC will recognize they've made a terrible mistake here and it'll all be cleared up after they speak with him. He's always been so good at under-promising and over-delivering on his PR's and filings over the years.
I just feel awful for the poor guy. He doesn't deserve this cloud over his head. He's more of a sunshine and roses kind of guy. Oh well, wherever he is, I hope he can still get some enjoyment from counting all the money he's made.
Good luck, Ike. We're behind you.
Oil.
The beat(down) goes on...birds of a feather.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=68247638
Oil.
Ike H. Sutton - The True Story?
I can only assume many know why I was 'convinced' to stop posting, videos or otherwise.
Although not particularly amusing, it would be tough to argue that this isn't fair or accurate...wouldn't it?
http://www.xtranormal.com/watch/13640633/ike-h-sutton-the-true-story
I'll leave it at that.
Oil.
Ike H. Sutton - The True Story?
I can only assume you know why I was 'convinced' to stop posting, videos or otherwise.
Although not particularly amusing, it would be tough to argue that this isn't fair or accurate...wouldn't it?
http://www.xtranormal.com/watch/13640633/ike-h-sutton-the-true-story
I'll leave it at that.
Oil.
So long.
This may very well be my final post.
I know not of what will ultimately transpire regarding various things that have come to light in recent days.
What I do know is that I endeavored to effect a favorable outcome.
I reside in Canada, that is known. And I may not be afforded the same rights of expression as those in the United States.
So, for now, I will voluntarily silence myself.
I wish to apologize to all SAVW shareholders, Ike Sutton, Sutton Global Associates, and any other individual or corporate entity otherwise associated with SavWatt USA, currently or previously, for any and all misjudgements made on my part.
In retrospect, me being a shareholder in GOIG has not done anyone any good, myself included.
I wish all the best, and I would encourage everyone to allow the opportunity for a positive and deserved outcome.
Regrets,
Oil.
So long.
This may very well be my final post.
I know not of what will ultimately transpire regarding various things that have come to light in recent days.
What I do know is that I endeavored to effect a favorable outcome.
I reside in Canada, that is known. And I may not be afforded the same rights of expression as those in the United States.
So, for now, I will voluntarily silence myself.
I wish to apologize to all GOIG shareholders, Ike Sutton, Sutton Global Associates, and any other individual or corporate entity otherwise associated with GoIP Global, Inc., currently or previously, for any and all misjudgements made on my part.
In retrospect, me being a shareholder in GOIG has not done anyone any good, myself included.
I wish all the best, and I would encourage everyone to allow the opportunity for a positive and deserved outcome.
Regrets,
Oil.
No.
I'm certainly not 'rooting' for him, but I figured we might as well see what they might do.
And there's not a chance in hell that a R/S is approved or rejected by what is or isn't said on this board (but I do agree, obviously, that it gets worse with a R/S).
Chances are nothing comes of it anyhow. I mean really, how much 'good stuff's a coming' has ever come to pass here?
Oil.
Update: Request for Board Clean-Up
I have been contacted via email by the Group that had sent out the 'Alert'.
They vaguely outlined three scenarios they have in play involving Sutton led companies SAVW and GOIG. They reiterated his continued involvement is necessary to consummate a deal. They further advised they will be meeting with various parties this weekend that "are ready to pull the trigger!".
Also, as it pertains to these boards, they stated "Clean up that message board" and "Give us max 30 -45 days".
Folks, I remain suspect and skeptical (and you all know why), however, I asked for further deal information and to continue our dialogue. I offered, as another gesture of good faith, to 'hide' my past negative videos for the time being.
That said, I am not yet prepared at this point to appeal to the moderators or posters of this board for a wholesale 'clean up' or a moratorium on negative posts.
What I would say is that there is very little downside to existing SAVW and GOIG shareholders to tone it down a bit and see if/how this plays out. Listen, it can't get much worse, 30-45 days is not a great deal of time in the scheme of things, I am OK with playing go-between for a while, and should I be convinced there's something there, we can deal with the overall political correctness of this message board as things unfold (or resume 'bashing' if there's nothing to it).
Hey, it might be worth a shot, it might be a waste of time (but it's certainly been a waste of money thus far).
Oil.
Update: Request for Board Clean-Up
I have been contacted via email by the Group that had sent out the 'Alert'.
They vaguely outlined three scenarios they have in play involving Sutton led companies SAVW and GOIG. They reiterated his continued involvement is necessary to consummate a deal. They further advised they will be meeting with various parties this weekend that "are ready to pull the trigger!".
Also, as it pertains to these boards, they stated "Clean up that message board" and "Give us max 30 -45 days".
Folks, I remain suspect and skeptical (and you all know why), however, I asked for further deal information and to continue our dialogue. I offered, as another gesture of good faith, to 'hide' my past negative videos for the time being.
That said, I am not yet prepared at this point to appeal to the moderators or posters of this board for a wholesale 'clean up' or a moratorium on negative posts.
What I would say is that there is very little downside to existing SAVW and GOIG shareholders to tone it down a bit and see if/how this plays out. Listen, it can't get much worse, 30-45 days is not a great deal of time in the scheme of things, I am OK with playing go-between for a while, and should I be convinced there's something there, we can deal with the overall political correctness of this message board as things unfold (or resume 'bashing' if there's nothing to it).
Hey, it might be worth a shot, it might be a waste of time (but it's certainly been a waste of money thus far).
Oil.
My Response to the 'Alert' and Their Appeal.
Here was the 'Alert'...
http://thestockmarketwatch.com/newsletters/2012/05/23/early-alert-may-23-2012/
Here is my response...
http://www.xtranormal.com/watch/13455209/savw-goig-my-response-to-the-alert
Oil.
My Response to the 'Alert' and Their Appeal.
Here was the 'Alert'...
http://thestockmarketwatch.com/newsletters/2012/05/23/early-alert-may-23-2012/
Here is my response...
http://www.xtranormal.com/watch/13455209/savw-goig-my-response-to-the-alert
Oil.
Again, if anyone can confirm that Sutton himself intends to be there, or that he has been sighted there...I'll be on the next plane out.
Oil.
Matters not. Ike banks regardless of whether or not they purport to be installers, manufacturers, inventors, designers, resellers, contractors, creators, or market leaders. It's the company and its shareholders that won't fare as well.
Oil.
You don't think pizzabuster and the new guy with the illustrious fast-food career are one and the same do you?
If Ike had to spend as much time as pizzabuster in 'jail', at least we'd be getting somewhere.
Oil.
It would be refreshing if it just came out like this;
NEWS,
dated anytime,
from anywhere,
for release whenever necessary.
Today Ike Sutton commented, "I have entered into an agreement of some sort, with somebody or another, that will again provide the illusion of possibly doing legitimate business, in order to continue to sell shares in the public company I fully control and will do with as I please so as to further enrich myself, regardless of the financial impact to those who have bought shares in the open market, and with little fear of not being able to get away with it."
Somebody or another commented, "Despite two minutes of due diligence that confirmed that Ike Sutton is little more than a penny-stock shyster, I recognize how succesful at it he has been, and not having access to the public markets myself, I am pleased and excited to look the other way so as to attach myself to the easy money that Ike has promised he can milk from investors' wallets that, realistically, I would have no other way of actually earning as readily as this".
Insert safe harbor statement and/or any other disclaimers here.
Oil.
Very few understand what you are implying here. But Ike certainly does. And it might be the one thing that scares him and/or takes him down. He's been pretty good at crookedly playing by the rules...but he forked up with this one. Allegedly, an officially filed document was fraudulently signed...by Mr. Sutton himself. Might be the slip up that takes him down, if someone is willing to testify. He knows it, the purported signator knows it, and so do a small # of people who have been keeping an eye on this SOB.
It's only a matter of time Ike. You'll have to answer at some point...and perjury is far worse than everyday run-of-the-mill OTC safe harbor lies.
Oil.
Here ya go. It'll probably be the last installment. It's not really funny anymore.
http://www.xtranormal.com/watch/13289039/savwatts-ike-h-sutton-the-legend-continues
Oil.
I can't imagine Sutton would be working the booth regardless. But he's pretty good at not letting an opportunity slip by to travel and wine and dine on the company dime. Vegas isn't particularly 'exotic' for a man of Sutton's stature, he prefers europe, southeast asia, and the tropics, but he may want to 'reward' the boys with a weekend of Vegas debauchery. My guess is that he's resettled in the caribbean and not likely to be in the States much anymore aside from an occasional in/out to do some 'business' that can't otherwise be done over the phone or internet. At any rate, keeping an eye out couldn't hurt at this point...just want to thank him for all he's done.
Oil.
If anyone can confirm that Sutton will be there, I'll make the trip myself (along with a couple associates). I had scheduled a similar trip for the factory Grand Opening last summer knowing he'd be there, but threats to me and my family (after my personal information was 'leaked' from emails I had sent to Sutton and Magone) made me change my plans. In hindsight, I wish we'd gone as I don't think we'll see Ike parading around publicly any more and I don't have it in me to spend the time or effort to try and track him down. At any rate, if he's going to be in plain sight, they're still up for a meet and greet with Mr. Sutton and I'm good for funding the trip...so if it can be confirmed that he'll be in attendance, I'd certainly like to know. Thanks.
Oil.
It takes certain skills to run a couple public companies to no bid, wipeout all common shareholder's investments, face numerous lawsuits, yet still be able to pocket millions yourself and stay out of jail, the hospital, or the morgue. Ike Sutton has those skills. He's a very special human being who deserves everything he gets...and I hope he gets what he deserves.
Oil.
Phoneguard logo on your car window. That's an excellent piece of marketing.
It says "I don't text and drive...and neither should you".
Give these away for free as well, and get the word out.
Oil.
Licensing Deal vs. Acquisition of Illume - Probably Good
Immediate Effect on PPS - Probably Bad
Long Term Effect - ????
Oil.
I was concerned something might've happened to Ike!
But I see he's back getting paid.
Thank God he's OK. Where would his companies be without him? He's Mr. Everything. I sure hope SavWatt has key-man insurance in case anything were ever to happen to him.
Loot and dilute.
Go Ike.
Oil.
Rafuse dumped his position, he's out...but he's got bus fare.
Oil.
That's Sutton's version of being a 'market leader'. No worries.
Nevermind that his 'discount rate' is completely arbitrary at his own discretion.
SavWatt is so very fortunate that he's been willing to 'fund' the Company. How else would he NOT be able to pay for anything but himself?
Short term convertible debt....it's not illegal, it's 'good business'.
Oil.
Thankfully Ike pocketed over a quarter million bucks from a little more than a month's 'debt conversion'. That's great, he is such a deserving CEO, I'd really hate to see him lose anything here.
Is everyone else getting what they deserve?
Oil.
Sure...shame on me. Sutton has no shame.
And I'll keep pointing it out until he gets locked up...or worse.
Oil.
I certainly meant no disrespect to the 9/11 victims and their families.
And I acknowledge that I compared apples to orange seeds and the parallels are night and day.
But Sutton has also victimized a great many people and impacted a lot of innocent families...not once, but twice. And he deserves to be held accountable for that.
Sorry if I offended you or anyone else Watson...but no enemy of the people should ever be allowed to roam free without feeling like his days are numbered.
Oil.
Amazing, isn't it?
When the first tower got hit, myself and many others initially thought that maybe it was just a tragic accident.
When the second tower got hit, there was no doubt it was an act of terrorism.
And when they both finally collapsed, the devastation to innocent families became painfully clear.
Yet the SEC, and a few martys, seem fine with allowing Osama bin Sutton to survive by hiding in a cave and continuing to fund his 'operations'.
Send in the SEALS, and put an end to this criminal's reign of terror.
Oil.
Ike Sutton and the Unholy Grail.
mdimport: "Look, you stupid bastard. You've got no arms left"
sevit: "It's just a flesh wound"
mdimport: "Bring out your dead"
sevit: "It's not dead yet"
mdimport: "Well it will be soon, it's very ill"
sevit: "No, It's getting better"
mdimport: "Wait a couple minutes. It won't be long"
SAVW is now just dark comedy.
Oil.