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Maybe I can answer this for him.
Simple...he doesn't view it as a 'public' company per se, he views it as HIS company.
And he'll do whatever he damn well pleases with it, thank you very much.
Oil.
I tend to agree...
Ike may have already set the company so far back that the present season ticket holders have very little chance of seeing a victory.
Maybe next season with a new set of fans?
Oil.
Fair enough...but they haven't exactly scored, or even got a base hit yet, either.
But I'll give you that at least it appears they're still standing in the batter's box.
Ike better make solid contact with the ball pretty quickly though, because you only get so many foul balls before the bat finally breaks or you strike out miserably.
Oil.
This is part of the problem!
Let's assume for a moment that what you posted is accurate and a BIG, HUGE contract is POSSIBLE because Ike and SavWatt are trying to hit 'home runs'. There's nothing wrong with that necessarily, but how about a few base hits along the way? Doesn't that seem like a good idea? How many times do home run hitters strike out and never score versus the guy that just tries to get on base?
I have managed and been involved in many commission-based sales organizations, and there's always one guy with immense amounts of talent that focuses almost exclusively on the big score. And 9 times out of 10, they starve themselves to death while they try to hit it big...and are done and out business before they even really got started.
It's the guys that make sure they sell enough to eat, while still trying to make the BIG sale so they can eat real well, that are always the most successful.
Problem is...it's not like Ike goes without eating. He just assumes that someone else (investors) will always be there to buy lunch...I don't know, maybe he figures that'll always be there until, hopefully, he can afford to buy everyone dinner.
Oil.
I can't say I disagree.
Shameful? ...Yes!
Criminal? ...??
Oil.
Rose, with all due respect...
I think that most people here would like to see everyone on this board do well. Anyone that wants to see 'good' people lose money is just plain cold and heartless.
And although it's probably only a relatively small percentage of penny-stock investors, many others, not unlike yourself, do exhaustive DD and try to choose their "investments" carefully.
But the fact is, only insiders and some astute traders/flippers have made any money with Ike Sutton ventures. Maybe you fall into one of those categories, I don't know. What I do know is that virtually ALL the folks that have "invested" in his companies, having done extensive DD or not, have lost a few hundred dollars, several thousand dollars, tens of thousands of dollars, and in a few cases, well over a hundred thousand dollars.
The problem is that no matter what level of due diligence one conducts, it still requires a leap of faith that the principal(s) have a mindset that is conducive to protecting and growing shareholder value. And, in my opinion, that's where it all falls apart in dealing with Mr. Sutton. You simply can't get into his head. It's only by his actions, over time, that we might get a good sense of it. There are those that say enough time has passed, and there are those who are prepared to allow more time to pass. It's a judgement call for everyone.
But I've been there, and the passage of time was not my friend. I committed significantly to an Ike Sutton enterprise. Not only did I conduct what I believed to be extensive DD on the company, its product, and the market, I also spoke and communicated directly with Mr. Sutton and his people on many, many occasions. Of course I don't ever believe everything I hear or read, but I was generally left with the impression that I could adequately rely on what he/they were saying and that the prospects for the company, and of me being able to protect my "investment", were reasonably good. Over time, it proved otherwise.
Maybe Mr. Sutton will somehow pull a rabbit out of his a$$ and make this work. For you, and all the others who "invested" in SavWatt, I sincerely hope so. Failing that, I hope he pays a huge price.
Good luck to you,
Oil.
Thanks, pretty tough, but I tried to get his 'good' side.
Is 'conspiracy to defraud' still a crime?
Oil.
Sure...let me know when it's all "said and done", shouldn't be long now (actually shouldn't ever be 'long' a Sutton stock).
And obviously you'll be buying lunch.
Oil.
Hmmm...it's about NOTHING! And old NOTHING at that.
Carbon capture gonna change SavWatt's fortunes...please!?!?
Hang in there though, it's a brand new year...so over the next little while there'll be fresh new batches of NOTHING coming out of Sutton's easy-bake oven.
Oil.
It's the FACTS that are hurting the most. The 8-K's, the sales figures, the expenses, the debt conversion, leadership's track record, etc.
The BS announcements, proclamations, plans and events, produced by the company, have proven to only exemplify their failings and have painted a picture of the extent to which they'll go to suggest otherwise.
The BS on Ihub is irrelevant.
Oil.
Happy New Year!
Have a good one.
http://www.xtranormal.com/watch/12874941/ceo-chatwith-savwatts-ike-h-for-happy-new-year-sutton
Oil.
Wow! Based on what?!?!
Rather than everyone else providing a litany of things to dispute your assertion that he's a "stand up guy" and "very respectable and one of the honest ceos out there, trust me", maybe you'd like to provide some examples of his integrity and all the 'good' things he's done over the years for his companies and their shareholders.
Oil.
Absolutely incredible. What a way to end the year!
The man has no shame. It's one thing to dilute the hell out of your company's stock to raise capital to try to grow the business (even when the stock is "trading a little weak" already)...but it's quite another to be blowing out 100's of millions in deeply discounted shares that you gave yourself and other 'friendlies' to repay your 'debt', all the while eroding investor wealth almost in its entirety.
While the last 8-K's might have been tough to stomach, even for those with hope, the next one will surely be enough to have EVERYONE puking over Sutton's clear motivation to make sure he gets his...regardless of the impact to shareholders or the company.
Perhaps Ike Sutton, CEO, is unfamiliar with the following:
"A fiduciary duty (from Latin fiduciarius, meaning "(holding) in trust"; from fides, meaning "faith", and fiducia, meaning "trust") is a legal or ethical relationship of confidence or trust between two or more parties. A fiduciary duty is the highest standard of care at either equity or law. A fiduciary is expected to be extremely loyal to the person to whom he owes the duty (the "principal"): he must not put his personal interests before the duty, and must not profit from his position as a fiduciary, unless the principal consents."
Or maybe he just believes that everyone consents to his behavior and business practises.
What the hell will he do next? It's just incredible...multi-millions of dollars in shares (equity) sold and nothing to show for it but a website, an empty factory, a couple offices, a few donated pole placements, maybe a bulb sale or two, huge corporate debt, and a big fat wallet belonging to Ike.
http://www.xtranormal.com/watch/12838458/ceo-chatwith-savwatt-usas-legendary-ike-sutton?page=1
Oil.
Another good year for Ike Sutton (making it about six or seven in a row).
Had his beginning of year final pump with G*IG, got sued for patent infringement confirming it was all B/S, milked every last bit out of that entity making it worthless, creatively R/S into a new entity, and bailed.
Turned his attention to SAVW, put his old band of 'merry men' to work, began relentlessly pumping out PR's but failed to meet any projections, hung his CEO, moved a couple billion shares, converted his 'debt' by turning a ton of deeply discounted stock into $100's of thousands in cold hard cash, completely wiped out any shareholder value with the resultant dilution, and...
...avoided SEC prosecution. Good job Ike, way to go, you're a master at what you do.
Maybe 2012 will be different (although I would expect him to initiate a fresh round of "this will be the year" pumping beginning in early January that might allow some to make a few bucks before it crashes back to Sutton reality).
Best wishes to all good souls for 2012.
Oil.
I'm not so sure Ike could even deliver on a large order if SavWatt were to get one. Among other things, the sellers in China would likely want cash up front (which Ike never leaves laying around), and buyers here would likely want a pretty quick-turnaround and some sort of delivery guarantee before putting up a deposit.
And buyer's don't have a lot of patience for pissing around with delays, false expectations, excuses, double talk, empty promises...you know, all the things Ike is prone to do.
I'm dead serious...if SavWatt landed a big contract, I don't think he could deliver. He never has, ever, his entire career. There's always been speculation of big sales, who knows, maybe there's even been some big orders over the years, but never, ever, ever, has he delivered the goods to complete.
Ike's not so good at doing real business...but he's real good at doing what he does.
Oil.
Don't give me that crap. I certainly do blame myself, and I too have taken losses many times over the years and not said a word, but when someone is blatently misleading people, myself included, and grossly enriching himself at other's expense, myself included, I don't just lie down and take it. You might, I won't. And I ain't crying about it, never have, only trying to make sure Sutton is known for what he really is.
C'mon...he's the CEO and you figure he shoulders no blame for the corporate/shareholder destruction?
Oil.
Believe what you want. I couldn't care less.
Sutton called, we spoke, I know of dozens of people that have suffered terrible financial losses that could ill afford it, I can, and Sutton did not seem interested in acknowledging the losses he had created.
He did, of course, suggest that he was working very hard and it would somehow pay off. Yeah, sure Ike, and it'll pay off for wolverine over at SavWatt too, right?
Oil.
The more contact with the SEC, the better. I think we all know it's not a good idea to believe everything a company puts out. And most understand that there are 'forward looking statement' protections.
But given Sutton has been doing this for six or seven years now, and greater than 90% of his PR's have failed to materialize, when does the protection for him end and the protection of investors begin?
Oil.
I guess they went in a different direction with their business plan.
Well constructed post, all references are entirely from the company's own mouth...it should be stickied up, but how would that help?
Oil.
Ha...excellent questions!
Yes, if you'd like your kids to be smart enough to recognize outstanding 'opportunities' like this, put ALL the college fund in SAVW. Ike? Legendary CEO (and future inmate).
Oil.
Y'know what planner, I can respect that burn, sevit, rose etc. believe they need to do what they do to try to protect their investments. It's understandable.
But I've got more respect for guys like Q and all the others that 'flipped' (especially after the Grand Opening) after they 'accepted' that Sutton only has his own interests in mind. There'll be more.
Oil.
I'm not sure it's fair to call them 'pumpers' anymore, they're more like 'defenders'.
There's really not a lot to 'pump' here nowadays is there? Repetitive PR's suggesting they're a 'market leader' because they've given away some product they bought in China? Or the 'new' ground-breaking products that are coming? Maybe their affiliation with gov't? Or similarity to Motorola? or Philips or GE? New office in DC, worldwide expansion? Please. Follow the money...the bulk of it ends up in Sutton's and his buddies' pockets.
Aside from 'contracts coming in 2012', 'pumping' now consists of trying to defend against the overwhelming evidence that SAVW is just another Ike Sutton personal enrichment campaign. And I'm fairly certain they know it, but when you're trying to get out...
Oil.
planner set the standard and inspired the movement....
Occupy Sutton.
Ricky from GO*G board's is pretty good, but it shows Ike in the Caymans. I don't like that thought.
I think the CEO from SAVW deserves a better fate.
Oil.
Sure...it has nothing to do with Sutton.
He just runs the show. And he does a helluva job, no matter what he says.
Go SAVW. Just like Ike likes it.
Oil.
Ike's reputation precedes him.
And he has zero credibility (or at the very least 'questionable' credibility with 3 minutes on google).
It might not concern him, but it does pose a problem for the company (and its shareholders).
Oil.
It's infectious...Ike never looked so good.
Oil.
Who cares about all that? It's a really cool light-pole and SavWatt has gotten a few placed in strategic locations by giving them away....then we'll sell a bunch for $10 grand a pop! And we have a patent, or patent pending, on something or other.
Plus we're really focussing on the LED bulb side of things right now...or again, or...well I'm not really sure, but if we just get one big contract (we're in DC now you know, and they're giving money away to small business, green light specials, Made or Assembled or Sold in America...or whatever we need to be), or even just a bunch of litle contracts - we did do negatiive $9,000 last quarter!! - well....y'know what it'll do to the PPS!!!!!!!
And really who cares about a little dilution? It's a start-up! (but we ARE leaders and pioneers too!!). They're being transparent, it might be a couple billion shares, but I've seen companies with way more than that go from sub-penny to almost a dollar!!..and we can see the benefits to the company...or to Ike, or his buddies, or, well, we can't really tell, but I'm sure it brings lot to the company, not to take away!! LOL!! Really? Sutton only makes $60,000 a year, and he still lent SAVW a bunch of his 'own' money, that shows how committed he is!!...he deserves to get paid back and 'earn' a fair return on his investment - especially given all he's done and his 'connections' to movers and shakers. Again, who cares!! As long as I'm making money, or trying to get my money back, or salvaging what I have left, or averaging down, or whatever it is I'm doing, it's all goig...whoops, I mean good!!
Anyways...if anyone wants to give me their 'cheapies', I'll be loading the boat on Monday, this is way undervalued - have you seen the financiials?, something went up! - just look at the chart, it's ready to pop and I'm expecting NEWS this week!! Mark this post...longs will be wealthy!...look at Sutton, he's wealthy, and how long has he been at it ?!?!
All IMO, do your own DD!!
Go SAVW, GLTA longs. This rocks!!
Oil.
You're 'calling' it right.
Oil.
No sweat jerrymike. There's enough good guys here, wolverine being an excellent example, that ALL prospective positive developments will be brought to light and properly vetted.
But you NEVER want to lose sight of who's running the show here...especially when things seem like they're going very well (everyone's on him when things are tough, but its when things look positive that he does some of his best 'work').
Oil.
Yeah...sure, that's what I did. I shorted it, made boat-loads of cash, and I'm trying to do the same thing here.
And I'm also out to ensure that a bunch of honest, hardworking people lose a pile of money to 'good guy' Ike.
You got me figured out.
There is only ONE person I want to see pay the price here....and it's not you or anyone else that posts on this board. Why would I have anything against anyone here? I don't hold the stock, and I have NEVER shorted ANY stock...the only one who has 'harmed' me is the guy folks here need to trust the most.
Oil.
Mdimport and I used to go toe-to-toe over Sutton and GO*G.
I defended and supported that company like others are doing here. Why? Because most of the naysayers were not as engaged as I was. On a regular basis, I talked to, and traded emails, with Sutton and Brendan Magone...many, many, times.
I challenged everything. I did substantial due diligence, I had my lawyers review a pile of documents. And we uncovered things that made me uncomfortable. I would address these things with Sutton directly (sometimes through Magone, but Sutton would respond to me). He'd answer appropriately, even if it was unpleasant, and on more than one occasion, if my argument was valid, it precipitated a change that would benefit shareholders.
Of course I would report back to the board...and all was well. And I'd pick up some more 'cheapies'. When questions piled up, I could get his ear and get him to respond. Hell, there's even a 'news' posting with him responding to 20 shareholder questions I asked of him late in the game (never seen that before, and he obviously thought it of benefit to have my name left on the posted document).
Listen, I just really thought the concept was brilliant...it was adaptable, effective, and, in the right hands, could be exploited in a big way. The technonoly worked with all major 'carriers', they made sure of that. I was never sure that Sutton and Co. were the right crew to take it big, but they held the patent. Or so we were led to believe (turns out he had ripped off a good idea he had discovered in south east Asia after entereing into an agreement with the REAL patent holders and defaulting, i.e. not paying, for the rights he had negotiated). I guess he just 'forgot' about all that when he filed 'his' patent...until it came out in court documents when they sued him.
And of course it was always....just "one big contract" with a a major advertiser using the service (which was always just around the corner), and "we expect to be cash flow positive next...", etc., etc, then the dilution will end, and the stock will soar. An incredible amount of work went into making things 'appear promising'.
So if anyone really wants to know why I keep an eye over here, and why I can be fairly vigorous in getting after Sutton, it has less to do with taking a financial loss, and more to do with being 'used' to advance his cause. I feel I owe it to others to try to keep them away, as, regretably, I'm sure I enticed some others to play in Ike's prior deal.
He has no shame. When the sh*t hit the fan surrounding the SavWatt Grand Opening, he called me and tried to encourage me to change my position...to give him time, to back off a little, it'll all be good. Sure it will...dump, dump, dump so I can stuff my pockets and those of my buddies.
Bottom line...no matter how much DD you do, no matter how much 'progress' is being made, no matter what lengths you go to to verify things, no matter what the laws, rules and regs are,...if someone is out to screw you, and they are very smart about it, they can pull it off.
Not saying that it's happening here for sure...but there's certainly evidence it might be.
Oil.
That's an accurate assessment mdimport .
There's certainly cause for concern.
But I think everyone already knows that.
Hope for the best, but expect the worst.
G'nite.
Oil.
There could be a third choice...
Perhaps they're moving in the right direction, but it's not outpacing how fast Ike moves in the wrong direction.
Who'll get there first?
Oil.
My guess is that there are several people here who could do a better job than Ike.
Hard work, dedication, integrity, honesty, and accountability would be a good start..
Oil.
Q...
That's Sam, unfortunately. Adam Kolodny is another you'd hope he wasn't. And Ike is exactly as has been described for months and monhs now. Eventually there is acceptance.
'Investors' here bought low-priced stock in a young company in a growth industry with some good products and a great story...all the makings for success. What no one bargained for was Sutton. And that's what makes it so difficult to accept.
SavWatt could have been a contender...but not with Ike in its corner.
It may be too late, and there is a lot of 'past' to overcome, but there's always a chance that someone (else) can turn it around and make it what it should've, could've been. But I wouldn't count on it.
It is hard to believe that he wouldn't just try to build a solid business, especially with so much (initial) investor support, but I'm afraid it's just not how he goes about his business. I'd imagine if it was to succeed, in spite of his self-serving motivations, he'd be very pleased and pleasantly surprised. Maybe that's what he's always hoped for. It's a little easier to think that might be the case, rather than it all being set up as an out-and-out Ike get rich scheme at investor expense.
I've double face palmed myself many times wondering how I ever got wrapped up in Ike's world.
Oil.