Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Nightmare on Ike Street, Part 2 (or 3 or 4 or...). It's quite a franchise he's created over the years.
Oil.
C'mon, what's 600 million discounted shares between friends?
Good month to be Ike or a friend of Ike.
Retail shareholders are not his friends.
Half million dollars in shares (market value) out the door, no corporate benefit.
The holidays will be happier for some than others.
Oil.
Yep...'Dexter' Sutton, serial killer of shareholder wealth. And he won't quit until he's caught or stopped.
Oil.
He's still a believer...and will be a far bigger victim than myself should it turn out there as it did here.
Oil.
Sutton has no conscience. How else could you do what he has for as long as he has?
Oil.
Yeah sure...that'll turn SavWatt's fortunes around...assuming it's collected. Won't even off-set a month of overhead.
Oil.
There is NO selling at this time, retail or otherwise.
Sutton's not holding back on announcing contracts until 2012. With the possible exception of one eco-pole, SavWatt has not sold a thing.
What Sutton sells are stories to entice investment and give hope to existing shareholders who are down large.
By his own admission, he has NEVER generated even nominal sales at ANY time during his illustrious career.
He is a master of the penny-stock pump and dump having perfected it over many years.
The noose he has put around his own neck is tightening day by day...and he knows it.
He'll get what he deserves, shareholders will not.
Oil.
OK...if that's the math we're using (and I think you're probably pretty close although maybe a little 'light' on the # of 'investors', but no matter) I will concede that 80% of the total # of shareholders at any given time may be 'traders', against 20% 'investors'.
What I don't subscribe to is that the 'traders' hold 80% of the stock and 'investors' only 20%. I mean think about it, it is well known that just one 'investor' holds close to 10% himself. You see what I mean? If there's 1000 people holding some SAVW stock, 800 are 'traders', 200 are 'investors'...but the 200 are holding, say, 50% of the O/S, it skews your argument.
There's a tremendous amount of 'traders' trading relative small positions, and a small number of 'investors' holding relatively large positions...that's all I'm saying (and it's the large positions being held by 'investors' that are likely to get hurt the most).
Not worth arguing about...I should never have responded in the first place.
Oil.
So it is your position that 'traders', the in/out crowd, hold around 80% of the float or the O/S at any given time (or roughly 1.2 billion to 1.9 billion shares). This would be compared to 20% held by 'investors' (or roughly 320 million to 500 million shares).
I would suggest your 'demographic' profile is seriously flawed. There is no way in hell that the "in/out crowd" is sitting on, meaning exposed to, that kind of position.
I would submit it's closer to 80/20 the other way than it is to 80/20 your way.
And that is precisely why it is imperative that the 'investor' crowd knows what's going on here. They have the most exposure, and they're less likely to exit their positions...which ultimately means they're most likely to suffer the greatest losses.
Despite what some would have you believe...this is NOT a stock to be 'invested' in (unless of course you're prepared to lose it all, or at least most of it, against the remote possibility it will 'hit', for whatever reason, and you'll get out when it does).
Oil.
What if I get an answer, but it's not an answer I like? Then what?
I suppose it'd be sort of like getting answers to most things concerning SAVW. Doesn't make you crazy, but crazy nonetheless.
Oil.
It was a furtherance of a discussion of the CEO of SavWatt's business practices (and in response to another's post).
Oil.
Well I'm glad we have a psychologist in the house.
Maybe you could describe what a sociopath is and we'll see if it's pertinent to a discussion of a certain CEO.
And what did I "back peddle" on? I just thought I should be a little clearer in case folks such as yourself were ill-equipped to decipher what it was I said. (Sutton's not the only one who can 'work' words).
But you're right about one thing...the SEC has YET to take action against this man. Which means they either haven't gotten to him yet, are presently gathering evidence, or have determined that he is, in fact, working within the confines of the law. Neither you nor I know the answer to that one I'm afraid.
Oil.
Personal attacks don't last long on this board. Try another angle, and then...
Go for it.
And I am neither unstable nor do I have a mental disorder.
I threatened no one, and I gave no indication that I had any intention of causing Mr. Sutton any harm.
What I suggesting was that in many, many places around the world (including China that has been mentioned several times over the last couple days), if you perpetrate on the general public what he has in order to grossly enrich yourself, you could very well end up behind bars, in front of a firing squad, or 'whacked' by a victim of yours.
Understand?
And for the record...I'd be happy to speak with the FBI, the SEC, or any other 'agency' to discuss my feelings surrounding Sutton and his practices. Unfortunately, they have yet to contact me in person despite several 'complaints' through their portals.
Oil.
I don't have the time or inclination to research the LED market as you and other's have.
But it's pretty obvious that what Sutton (and his 'supporters') claim SavWatt is, can be easily refuted.
They're not "innovators", they have nothing of substance "patent pending", and they're certainly not "fast becoming the market leader in LED lighting".
If it was only BS-ing to try to sell some product to gov't or business, it might be considered just a little 'sales embellishment'. Problem is, it's only designed to make the company look substantive in order to sell stock. And that's already hurt a great many people...and perhaps many more.
Oil.
Neither Savwatt nor Sutton have invented anything.
There's nothing wrong with attempting to sell products as a reseller...but Sutton figures he can get more mileage out of pretending he has some sort of patent pending on other's creations. Not to sell the products, just to sell shares.
The eco-pole is a neat idea. I can see why folks might want to invest in a company that had a pending patent for it. Too bad that's not Savwatt.
But wait...what about the extensive catalogue of 'other' LED lighting solutions? Well just about anyone that wanted to be in this business could have a similar catalogue of products in about a week...and you certainly don't need a 21,000 sq. ft. 'factory' to assemble the components you're buying to resell.
What does take a pretty savvy 'businessman' is the ability to 'spin' the story and mislead investors in order to sell millions of dollars of stock so you can pay yourself and your buddies handsomely without ever generating a profit.
Do any of the 'in the know' crowd have any idea what the 'patent-pending' pertains to? Or who's applied for the patent? No? Oh right, that's because the company wouldn't want anyone to get their hands on their 'trade secrets'...especially those pesky Chinese.
Savwatt might be able to sell some LED product, but no matter, Sutton has damn near perfected the art of selling a crap-pile of stock regardless of any significant sales. Mission accomplished.
Oil.
The ONLY DD required.
SavWatt is run by Ike Sutton.
Anything and everything he says or does is designed only to sell shares for his and his associates personal benefit.
His long-term record of misleading investors in order to sell billions of shares of stock is well established.
All other published "DD" on this site only furthers his cause (and he thanks you for that).
Oil.
Ha...don't know much about Bradley, but Dean James is a beauty for sure. I think the difference though is that Sutton, somehow, still has people that will buy into his BS. I'll be the first to admit that Sutton's excellent at what he does. He's been at it a long time...and I suspect SAVW won't be his last rodeo (unless the federal authorities finally shut him down).
Oil.
Over the last few years, has anyone (that hasn't gone to jail, is under indictment, or already shut down by the SEC) been better than Ike Sutton at enriching themselves and their associates entirely at investor's expense?
Oil.
Oh, OK. I stand corrected.
This has nothing to do with Sutton's continual dilution of the stock. He's busy building the market leader in LED lighting and has no interest in enriching himself and his associates along the way. Sorry. What was I thinking?
Oil.
...or
the price is tanking because that's what happens when you dump a boat load of new shares on the market at the end of the month to pay bills and convert debt.
Oil.
This is all my fault.
It has nothing to do with Sutton.
I contacted the American Bar Association and harrassed every lawyer that could write up a sales contract.
Oil.
You all seem to be having fun guessing the revenue in the upcoming 10-Q.
Based on company guidance...
May 24: "sign ups of Energy Service Providers and Electrical Supply Distributors as SavWatt Partners will exceed 100 by month end. With an annual minimum target of $100,000 in purchases required in the agreement in order to maintain their partnership, management projects over $10 million in revenues for the first twelve months of operations"...
and from the last 10-Q..."expect to be cash flow positive by Q4 2011"'...
I'll go with $111,111 for absolutely no good reason.
The better question would be what will this 10-Q project for when they will NOW become cash flow positive? Q1, Q2, Q3, or Q4 2012?
Hoping for a good 10-Q from Sutton is like hoping that the gaping hole in the side of your boat will somehow shrink enough for you to make it safely back to shore before it sinks.
Oil.
I never said it did.
What it didn't do was allow Sutton to pretend he had the endorsement of some high-profile officials (who clearly weren't aware of his business 'style') to lure in a bunch of new investors, at pump induced share prices, while simultaneously dumping a piss pile more stock on the market in order to enrich insiders.
There's your reply. TIA for not asking again.
Oil.
Every bit of it is true...well, maybe not the bit about other crooked CEO's looking up to him, but otherwise, all true.
I'm not "bad mouthing savw", I'm bad mouthing its CEO...and maybe, just maybe, SavWatt will succeed in spite of its corporate 'leadership'.
Oil.
C'mon yoyo...you know Ike's a 'giver'.
He gives an abundance of vastly discounted shares to insiders, close associates, and debt holders.
He gives away demo products to feign 'demand'.
He gives fancy titles to 'underlings' and executive positions to guys who've faced criminal charges.
He gives the impression he's working hard for the shareholder's benefit.
He gives out an endless supply of shares for the 'hopeful' to buy.
He gives daytraders and flippers the odd opportunity to make a few bucks.
He gives overseas 'business travel' on the company dime a workout.
He gives the dreamers 'fluff' PR's whenever there's nothing tangible to report, and, of course...
He gives himself a pretty nice lifestyle for all his hard work.
Hell, he might even give other crooked CEO's someone to look up to.
Know what he doesn't give...a crap about the average joes that 'invest' in his companies. He gives them nothing but finacial woe, heartache, and pain.
Oil.
Yep, it's one hell of an operation he runs!
Of course from his perspective he's been an extremely successful 'businessman' !!
And, unfortunately, at least to this point, the SEC seems reluctant to tell him otherwise. I mean really...if after many, many 'complaints' they can't shut down the likes of an Ike Sutton after his lengthy, on-going, and blatant track record of deceiving the investing public (to his and his associates disgusting benefit), what's the point in pretending they're protecting or keeping an eye on anything? Mind you, their track record rivals Sutton's...and they'll both tell you what a great job they're doing!
There should be only two options for Ike now, 'in' or 'out'. As in 'lights out' or 'in jail'.
Oil.
I really don't know the answer to that one.
I filed mine online initially, and I plan to also send by registered letter (with more back-up).
I don't think multiple complaints from the same person is advisable (unless there is additional information provided).
Oil.
What kills me is that it would take all of about 45 minutes for the SEC to figure Sutton out...purely based on his public releases and audio messages against the subsequent reality (in concert with the CEO instructed share sales resulting in direct and indirect remuneration to Sutton himself).
This is not a difficult case to substantiate, nor should it be difficult to prosecute.
It's simply ineffective enforcement that allows the less than honorable to run wild. Not much of a deterrent and not entirely unlike the days of prohibition...aside from the fact there is very little moral debate here.
Oil.
OK, you're right.
But why should I get over it or let it go?
I'll follow Sutton until he's held accountable and discontinues his practises of elaborately orchestrating hype and hope (including 'Grand Opening' events and PR's) in order to unload BILLIONS of (more) shares to new and existing shareholders (who average down to the point of oblivion).
There's a reason there's only a few people left that remember that far back...they bailed when, after I was expressing my concerns, the 8-K revealed the lengths Sutton had gone to in order to move stock.
I'll leave it alone...for now.
And I sincerely hope it works out better for those here vs. those there.
Oil.
Michael Haug may be a good man, and SavWatt may have great products and make a bunch of sales. I really couldn't say one way or the other, but it seems a reasonable bet.
What I can say is that without a doubt Ike Sutton is a long-term serial rapist of corporate assets and shareholder value. Rudimentary due diligence confirms that. It is beyond debate.
Can Haug's sales ability and/or the products themselves overcome the CEO's penchant for doing anything and everything to sell hundreds of millions of shares (for his and his associates benefit) no matter what the cost to shareholders and the company? Possible, but doubtful.
A good whack of sales may in fact help move the share price, and everyone presently holding may make a buck or two (if they don't hold too long), but it is almost inconceivable that there will ever be sufficient sales to allow SavWatt to overcome Sutton's misadventures in directing corporations he controls.
Oil.
I've formally submitted my complaint to the SEC. I suggest others do as well.
I will wait to see what happens there before making contact with the RCMP and/or the Ontario Securities Commission now that GoCom is headquartered in Toronto.
The basis of the complaint is that one Mr. Isaac H. Sutton, CEO of GoIP Global, Inc., has conducted a long-term, repetitive, and on-going practise of misinforming and misleading investors, with an abundance and wide array of public statements, press releases, and communications, designed only to sell stock in the companies he controls, for his, and his associates, benefit. This pattern of conduct has been detrimental to shareholders, breaches his fiduciary responsibilities, and ultimately constitutes a fraud on the investing public who have relied, in good faith, on the statements made by the executive of the public company.
I have not yet submitted supporting documentation. I will if/when I am asked (as I have catalogued a tremendous amount of falsehoods, misleading statements, and misrepresentations going all the way back to 2005).
Mr. Sutton is undoubtedly a liar. The only questions are whether or not he has committed a crime at the public's expense, and whether or not the SEC is prepared to do anything about it.
Oil.
No, I wouldn't touch this stock with a 10 foot eco-pole.
Oil.
Well there's your 'pump'...
...to be followed shortly by Ike's 'dump'.
Oil.
Yes, I know. And yes, I know.
Thanks for sticking around mdimport...wouldn't want to miss the ending!
Might not be a surprise to us 'readers', but it might be to the 'author'.
Oil.
Why don't you give Haug a call...see what he thinks Sutton brings to the table.
Oil.