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One of the real sad realities of this entire scenario is the future and past employees. Freer left a bunch of people unpaid in California, and allegedly, it's not the first time. It's not a stretch to wonder if it will happen again. It's pretty insane that he can burn these bridges in California and (again, allegedly) Atlanta, and just move and start-up again without settling past debts. It's a big hole in the system which allows this type of thing.
Well, theoretically, since the powers that be at GetFugu haven't done anything at all to move forward with the company or product and have moved on to start other projects while leaving this one blowing in the wind, it is quite suspicious. No clue here, but if all the "IP" from GetFugu gets gobbled-up by another company, I suppose we'll all know the story at that point.
Sorry. Didn't realize we were competing.
Carl's not wasting any time starting up again. Here's another one:
http://www.reuters.com/article/2011/09/21/us-filmfunds-idUSTRE78K0A420110921
Well, they took the site down and are opting instead for a Coming Soon page. We shall soon see what Slick Freer and Lackey Jenkins have up their sleeves. Will it be another resounding success like Gizmondo and GetFugu?
Exactly. No reason to blame the product when there are other ways to divert attention. Look! Squirrel!
The real question is whether or not Freer and Jenkins intend to circle-back to repay all the employees, contractors, and service providers that they skipped-out on.
They just beat a dead horse with this little gem that was posted in virtual obscurity a few days ago:
http://www.courthousenews.com/2011/08/23/39192.htm
Do we even bother to wonder if this is just scapegoating so that they can garner more investment in the new venture?
It is unfortunate for anyone who put any money or faith into GetFugu that the owners of the company just scampered out of sight with no explanation to anyone as to the fate or direction of the company.
It's going to be interesting how this plays out because it seems they have quite a few eyes on them at this point.
For the sake of potential present/future employees, let's hope that this isn't going to turn into another GetFugu. Shame that laws don't dictate that a company settle past debts before the founders create another business entity.
Should be interesting, at best, to watch this play out.
His biography reads like a business failure checklist, imo. All we can do is hope that it's true that it all eventually comes around as karma, payback, or whatever. If anyone finds out that these guys are starting up again, please do let us all know.
Nah. Came up in a Google search for GetFugu and Freer. It's on his LinkedIn page. Other than that, no trace. You know how they roll.
Looks like Carl Freer's new position is CEO at Streamline Technology Ventures. Search yields nothing, but inquiring minds wanna know. Still claims to be in business development for GetFugu, but as far as any of us can tell from the last several months, there's no business and no development of which to speak. Sucks to be holding shares of this right now, I must say. Who's buying???
Heelllllooooooo? Is anybody in there? What's with the Fugu? On to the next? I eagerly anticipate the chance to see what groundbreaking technology this innovative team chooses to explore in the future. In the meantime, keep an eye on this stock and watch it grow!
Looks like the debate is getting heated-up on this one:
http://westlawnews.thomson.com/Securities_Litigation/Insight/2011/01_-_January/GetFugu_is_a__pump-and-dump_scam,__investor_says
Regardless of how it all turns out, it's too bad we've heard absolutely nothing from GetFugu since they missed their announced release months ago. I'm still holding some shares of this company and I fear that I'll never get anything back.
So, based on the trend as of late and no news whatsoever, are we to assume that GetFugu will not be releasing another version of their application? Are they doing anything at all to increase business, or should we expect this to just burn-out? Any insight from anyone at all?
So, I guess it's safe to say that GetFugu aren't too concerned about following through or communication at this point. Anyone have any information that indicates that they're working on anything at all or intending to release anything? Are they really attempting to launch another start-up after this debacle? I've noticed that no one seems to be jumping at releasing any info or leading anyone to believe that anything's coming, so should we assume that GetFugu is going to just burn into nothing?
Thing is, solar has been out there for decades and we're still not truly embracing it as viable energy technology in this country, and until we embrace it fully, it won't become mainstream. Besides that, a great majority of government officials are in the pocket of big oil, because they have the currency to flow way more than alternative energy companies. So, while oil is spilling throughout the Gulf, we still argue about why drilling should slow down. Fact of the matter is, we could have much cheaper solar energy if it was supported by the government, and the same scenario exists for electric cars.
Sorry, I'm ranting, but I invested in STP some time ago not just for profit, but for the feeling of investing in a company that was making responsible choices. Doesn't matter if our country isn't playing along.
Well, a lot of accusations are made as to Newbauer's motives and practices, but when you get down to it, everyone knows that penny stocks and pink sheet stocks are all a tremendous risk. If they weren't so volatile, they would probably be at a much higher price. So, you take a gamble.
In this economy, starting up a film production company (in Indiana of all places) has got to be an uphill battle. Hell, any entertainment business startup is gonna be a struggle. If MGM is declaring bankruptcy, then you have to know that times are tough.
That having been said, you can accuse someone of being deceptive, but with film projects in particular, especially on an independent level, financing can sometimes take forever or fall-through altogether. Perhaps Newbauer's biggest mistake was to remain optimistic. Perhaps his mistake was in putting out PR on things that are in development rather than solidified.
I personally think at this point, and especially after reading the posts here, his grandest mistake was taking his stock public. So, when you do that, you open yourself to major scrutiny, and everyone is entitled to their opinion and feelings on the matter, and Newbauer will just have to weather the storm and maybe, at some point, come out on top. Time will tell.
It's extremely tough not to get frustrated at this point. With the announced date for release of the new version LONG gone, stock riding way low, and no word whatsoever, stockholders are all left wondering what the deal is. If GetFugu doesn't appreciate supposition and accusation, then they should really step it up. If we're to use their website, Facebook, Twitter, and lack of press releases as a sign, it looks like the whole thing is belly-up at this point. If they can release news about all the great things that are to come, then they should have the respect to release news about their absence of product and communication.
Nah. I'm gonna stick to the facts and just express my opinion on the business and the product. Since I don't know about what goes on behind closed doors, it makes no sense to speculate on what their motivations are. I just hope it's good business. I simply want to see the breakout that has been promised and want to see these guys actually follow-through in general. I've been riding the ups and downs for a while now, still holding on to some shares, and would like to see some real progress.
I'm not going to go as far as calling it a scheme, but I will say that if it wasn't apparent that these guys either just don't know how or don't care to run a solid business, it's becoming clear now, IMO. We can all understand the difficulty of getting a business off the ground, but the declaration to go off radar (because disclosing details is too difficult) is a shame for the stockholders.
Furthermore, to not have updated a mobile application in several months (for Android, over a year) and then miss a promised release deadline with absolute silence, is IMO, adding insult to injury. For a company that wishes to be labeled as "forward thinking," "groundbreaking," and "the future," they sure don't seem to be hungry to establish themselves in the market.
Delays are delays, but absolutely no update or apparent activity (see website, PR, Facebook, Twitter) is irresponsible (again, IMO). Their absolute silence speaks louder than words. C'mon FUGU! Get it together!
When you say you're a "local," what exactly does that mean? It's completely fair to hold and express the opinion that they have no idea what's going on and even that they're doing nothing, but you calling it a scam elevates it altogether. Is this speculation on your part (which you should own, btw), or do you have some sort of information to support it? Does anyone need any more proof? Well, I haven't personally seen any proof, so for me, yes, for the sake of argument, I'd like some more proof.
Yeah. No new version. No news. No nothing. I was hoping that this was, in some respects, a new leaf being turned-over. Doesn't look like things are very forward-leaning at this point.
Come on, GetFugu. At least some sort of explanation, insight, or something is really needed at this point, IMO.
Indeed. That's really what makes stocks at this level so volatile. There's no proven track record one way or the other, so the price is more subject to news and whim. The companies that will succeed will do so based on the product they offer and its reception into the marketplace (I know, obvious). I guess what I'm saying is what I said earlier, which is, if you're gonna do any kind of investment, then you have to be willing to maintain some level of risk, and if you either don't believe that the company will succeed or you don't believe that if it does succeed you will be fairly compensated, then you really ought not to get in at all.
Of course, it's completely fair to criticize the company, the product, or the officers in the meantime. That's just protected freedom.
I personally think that as an entertainment startup, especially in this ecoonomy, it all takes time, and as long as the company works and plays fairly, then they should get time to grow.
Thing I don't understand is, if you do want to buy into these companies, then it is your right to do so, but if they are obviously building a business, then you run the risk of having to wait to see real, concrete progress. If you think that these are not a wise investment and only here for the companies to make money off investors, then it would make sense to NOT buy their stock. It's always left to investors to do their DD. ANY investment into a company is a risk.
I personally feel much better in slow and maybe little return in a renewable industry than to contribute to oil giants and profit off the dirtying of the planet and potential suffering of others. Problem is, moving towards renewable energy isn't as pressing to the general public as getting a job and making money. We're in for a long recovery, and eventually, wind, solar, and other sources of alternative energy will thrive, in my opinion. Until then, I just watch it all unfold...
Yes. I agree you have a point. My opinion is more supposition that this company is operating as generating something for the future, and while I'm sure a run would yield return for some investors, I envision this better as a longer-term investment. I think it takes years to build this kind of company, and in this economy, everything is risky. Likewise, dealing in the financial industry is a tough road these days, and when you combine that with the film industry, there's a lot of "hurry up and wait." Hopefully your staying in the game pays off.
Smart enough to roll into cash when it's there
Solar is a tough gig, all the way around, especially considering the economic and political climate. Gotta hold on to faith that solar will do what it's supposed to do and STP will rise up in the pack!
Films are a really tough thing to get going and in today's marketplace, money is not readily available in any industry, much less films, so giving someone the benefit of the doubt in the development stage on a project seems like it might make sense.
Likewise, it's tough as a small startup to go public, and you can't ask the CEO or employees to not be optimistic as a forethought.
Less than a month now until this new release. Will it be as innovative as it has been depicted to be? What will the reception be like? How will it affect all aspects of GetFugu moving forward? Will be pretty interesting to watch it play out, regardless. Make or break time. Can hardly wait.
I'm pretty sure that in order for these sites to "give up" the full identities of their users, that would take a court order. I think it's highly unlikely that any technology service would just hand over that information freely, and besides that, it's illegal. GetFugu would not only have PROVE wrongdoing, but they would have to PROVE damages, so at this point, the thuggery and scare tactics utilized ineffectively by you and them are unfounded. Freedom of speech, including the criticism of how a company operates and the behavior of its executives, is protected under law, as you well know, so I doubt that anyone is nervous or shaking in their shoes.
However, if GetFugu is looking to go after "John Doe," then perhaps they can start on the Google Finance boards, where two people representing vendors that haven't gotten paid have posted using their real names and have been attempting to reach Carl and Rich. One of them claims to have a judgment against them for tens of thousands of dollars and can't find them anywhere, so I'm sure they'd both be glad to hit the docket at the courthouse.
After that, maybe they can roll on to the JobVent.com review site and go after all the contractors and employees who are claiming to have suffered poor treatment, unpaid salary, and unemployment and tax issues.
You can attack posters and not discuss the company's product and business if you wish, but your motivation is as clear as (if not more than) anyone who criticizes OR supports the path that GetFugu has taken. You and GetFugu can choose to go after whomever you choose, as it is your right, but the rights of others are just as valid and protected, and please do bear in mind that GetFugu, of all of these, does indeed live in a glass house.
I've noticed a trend that has developed on the GetFugu boards in particular where there are obviously those who don't believe in the validity and legitimacy of the company and feel the need to express their views and post up their research.
There are also those who come down on the side in support of GetFugu. A few of those just post up positive information and PR, but the majority of the GetFugu supporters spend their time attacking the posters who are against the company and don't really address questions or allegations directly or disprove anything. They instead criticize the posters in some vain attempt to discredit them.
This does nothing for the conversation but discount it completely. The message board should be focused solely on the company, the product, and the stock... not the motivation behind anyone's postings.
By all means, heated discussion should be encouraged, but I wonder why the conversation has to become personal. Let's stay on point.
Are you referring the press release from yesterday in which Warnock and Davies are filing another suit and appealing some of the last decision? Doesn't look like old news. That's a new complaint they've filed, so while not much is different, it still is not necessarily old news being rehashed.
I doubt they'll be held in contempt. Fortunately or unfortunately, depending on which side you land, the judicial system does allow for lawsuits, regardless of the claims. The judge will decide if they're founded or unfounded.
Warnock and Davies do obviously seem like they have an ax to grind, and GetFugu being the target is no good for the company, especially since they made the statement that the last suit was detrimental to their business and held them from their true potential. Would be nice if this matter could just be settled once and for all, so we can see if GetFugu can actually rise to the occasion.
I'm confused by your last statement though. "Nothing is going to save those here that broke the law from the SEC?" I'm assuming that you're not talking about GetFugu based on your posts, so to whom is this referring, and what securities-related laws are you alleging have been broken by them?
This continues to be an argument between posters and questions about intentions and future dealings of GetFugu still remain unanswered, which I guess is their usual modus operandi.
No one here claims to be experts on the day-to-day operations of GetFugu, and as far as innuendo and speculation, it seems to be falling on both sides of the "for" and "against" arguments, so there's really no need for personal attacks of intelligence or motivations.
It's apparent that since the company never really elaborated as to why they decided to move to New York, no one actually knows for sure. It was done under the radar, which automatically is cause for speculation by both sides. It is true that they ran into financial and business issues in California, and maybe they intended to start fresh, but I'm just curious as to why they just went forward in a "business as usual" mode, leaving themselves open to such speculation, and without directly addressing the issues to stockholders.
Also, they had a very grand exodus of the entire GetFugu executive board and design and development teams, and as they have been so quick to issue press releases, it's difficult not to wonder why they haven't spoken of the move or indicated the rebuilding of their company on the East coast.
With the stock again dipping below the penny line daily, I would think that they would want to assure stockholders that they are solid in moving forward and working to create a more compelling buzz leading up to what they are billing as an innovative new version of the app with many new technologies therein. Seems to me most technology companies are really out there pushing and creating conversation in the marketplace, but GetFugu seems to be sitting on their hands in this respect.
Their website hasn't been updated on a regular basis. The investors page used to have news and stock and SEC filings, but now only redirects to the About Us page, which still says they're based in Los Angeles. Their Facebook and Twitter pages, which are, arguably, two of the most effective tools in social networking, seem to be ghost towns. Besides their in-house press releases, there doesn't seem to be any articles out there even briefly discussing their existence. Their app hasn't even been reviewed in the iTunes store since May. I'm just saying that this doesn't appear to be a company hell-bent on taking over the marketplace.
GetFugu needs to step it up a few notches, to say the least. Otherwise, we just watch little jumps and dips in the stock price. If they're claiming to be the future, then they need to get ACTIVE. I understand that this RICO dismissal was a huge win and they said that now they're all clear to rock the house, so let's see the house rock. Nothing stopping them now but themselves.
I just meant that you were speaking about experts and I couldn't see any real point of reference. If you're gonna quote me, I'd appreciate your making sure it's accurate and grammatically correct.
I'm just waiting to hear the scoop on version 3 of the app... hoping it makes more of a showing than the last two, and that it's more timely than the financial reports.
I also inquired a while ago as to whether anyone had insight into what was behind the move to NY, whether they have a new team in place, and what the new business model holds?
Haha. True, true. Experts indeed. Wait, who? I have no idea what you're talking about. However, I'm sure somebody profits every time GetFugu churns out a PR. Now, for anyone who wants to go long, if only their reality reflected the PRs, then we'd be talking! Go Fugu.
Looks like the continental shelf. Hope the playas got out before the nosedive. Then again, how much do you really stand to lose in the sub-penny land?
No word from the New York version of GetFugu, huh? Anyone know if they're gonna be on time/target with this miraculous promise of version 3 with all the new functionalities? BTW, I think they skipped version 2.
From what I can tell, the board is set up for discussions of the company itself, and that means the president, product, and business are all fair game. However, to keep the conversations on point, they don't allow for criticizing other posts or other users, as it's not relevant to the stock (for the most part).
Accusations of libel are pretty strong, and statements are only libel if they are proven to be false. As far as ihub goes, it's all freedom of speech as long as you remain on-topic, discussing the business and the stock itself.
Seeing as how the bottom has again dropped out of the GetFugu stock price, I can't see what the big argument is all about anyway. They've moved to New York with no apparent team in place and are promising an entirely new app within several weeks. Seems pretty irresponsible, but we'll all see soon enough how valid these claims will be.
Until then, I'm sure discussions on both sides will emerge. Since we can't tell the future, we only have the past from which to judge by (and press releases from the company), which is not very strong. These guys have a lot to prove.
The real problem is the business model. GetFugu just doesn't seem to have a real sense of self. The proclaimed that they were aiming to be the yellow pages of mobile apps, but when the real yellow pages just released an app themselves, and they've been doing it forever, where does that leave a company that doesn't have their team in place and solid to compete?
The issue is that if GetFugu really wants to compete and rise above the market, they will have to have a strong development and R&D team in place NOW. There are so many apps out there that are doing the same thing on all platforms and that are really successful. GetFugu has fallen short so far, and they just moved offices again, across the country, so they really need to pull it together.
Yes, they reported revenue, but they didn't really divulge where it came from or how they might duplicate in the future. They've lost so much at this point that it's a tough climb for them anyway. May be a start-up, but the financial statements and track-record of the business is a bad trend.
Does anyone have any insight as to the development and design teams that they had to let go due to running out of money to pay them? Have they re-opened offices? Who exactly is going to develop and design the new version of the app?
It sounds really bold and I'm just curious as to what the scenario is, because I haven't seen any news about investment capital they've received or any explanation as to why the executive board resigned and the development and design teams were let go. Who will be replacing all these key people?
Anyone got inside information?