Catching Astroturfers
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NOBODY wants a $175 app...YOU..DONT..even..OWN..IT....LMAO
ONCI’s ONLY PROVEN SOURCE of CASH..is..from..SELLING..SHARES..HUGE..DILUTION!!!
DILUTION..IS..INSANE...5..BILLION..EXPECTED..NEXT 2 Quarters
100% BS....Search Google for “best distracted.driving.apps” No..Bsafemobie..in..the results. NOBODY.wants.IT
TOTAL BS....HUGE..DILUTION CONTINUES...SHAREPRICE..down..from .0009 to .0003..in..THREE..MONTHS.
Dollar volume traded is where you need to look. As the shareprice goes down number of shares diluted will increase proportionally.
No Deals have been announced this quarter. So to pay the bills the company must continue to DILUTE.
CEO retired shares that were not in the public float but did count against the authorized share count. If he had not retired them he would be out of shares to sell. Without selling shares ONCI is out of business as it is their MAIN source of income.
ONCI..is..a..COMPLETE..FRAUD.....CROOKED CEO..PUMP.and.DUMP EXPERT.
MORE FAKE NEWS!!!..non-float shares retired...ONCI..is.a..PROVEN..SCAM
NOPE NOBODY WANTS THE..$175..APP..PHONE HOLDER WORKS....TOO
ONCI IS WORTHLESS RUN BY CROOKED..CEO..STEVE...APP..NOBODY..WANTS
REVERSE SPLIT FILED FOR ONCI 10,000 for one.
Coming soon.
Registered two years ago. A JOKE..PUMP..SCAM.like..ONCI
ONCI..FILED..for..$1.MILLION in DILUTION..in..MARCH..when.shareprice was.much.higher...REVERSE SPLIT NEEDED to accomdate their need for Money to continue their FAILING company.
Accounts Receivable NOT BEING COLLECTED.RED..FLAGS.SCAM!!!
The bottom line with ONCI is that every quarter for the past 10 quarters the Accounts Receivable increases by very close to the Gross margin. (revenue - cost of sales)
This past quarter saw Accounts Receivables (A/R) rise by $869,215, After the $635,921 cost of sales is deducted from Revenue you are left with $851,444.
So they are claiming $851,444 for Revenue for the quarter after costs, BUT are owed $869,215 more than the total at the end of the previous quarter.
This means that A/R from the previous 9 quarters has not been paid and that it rose more than the Gross margin in this Quarter. (AGAIN)
This is a VERY STRONG INDICATION OF FRAUD.
-----------------------
Copied below from https://blog.apruve.com/6-types-of-accounts-receivable-fraud
Fictitious Sales
Accounts Receivable is not actual money in the bank. An employee can fabricate invoices, which will inflate accounts receivable. But who might this benefit since an invoice isn't the same as receiving cash?
Sales people who work on a commission will benefit from an increase in accounts receivables, as it will show an increase in sales. To make this work, someone in control of accounts receivables will have to be in on the fraud.
Red flags for this type of fraud are invoices to fake customers or invoices that do not match the type of business a customer might generate. At some point, these invoices might simply disappear as part of the fraud and go undetected. Internal controls that monitor this type of activity can help with detecting fictitious sales.
NOTE: CEO Steve Berman receives a 12.5% commission on all sales.
-------------------------
More info from https://www.get.com/stock/2010/03/11/accounting-red-flags-10-things-investors-should-look-out-for/
Accounting Red Flags: 10 Things Investors Should Look Out For
1. Unusual accounts receivables growth. If accounts receivables grow at a faster pace than the company's sales, it can indicate that the company is making bad sales to companies unable or unwilling to pay, which could result in bad debt down the road. It may also indicate that the company is booking revenues before the proper time, which is one of the most common practices within the universe of manipulation. Future sales are simply recognized early, inflating earnings. The tell-tale sign, of course, is accounts receivable growth in excess of reported revenue levels. Studying the dollar amounts is not adequate to spot this. Instead, compare the rate of growth in year-to-year revenues and receivables.
ONCI has higher A/R in six of the past nine quarters than their Gross margin.
Bottom line is that ONCI is NOT BEING PAID for the past 10 Quarters on any measurable A/R at all, or it is made up revenue supported by phony sales contracts. A third option would be that they have shipped units to dealers on consignment but they have not sold more than a few units. This would need to be disclosed to investors. As they have made it look like they are selling 9K to 10K per quarter and that is not possible due to these numbers.
My hope is that this fraud is uncovered by the SEC and that the CEO is prosecuted for these alleged crimes. I hope no more investors lose money due to the fraud committed here. I was fortunate to find out about this fraud in time to avoid losing a lot of money.
DILUTION.CLEARLY ONGOING.PRICE NOW .0003.CEO.does.not..anounce.new..DILUTION..UNTIL.THE NEXT QUARTERLY REPORT COMES OUT.
ONCI has averaged around 1 BILLION per year in DILUTION.
HOWEVER...the new SHAREPRICE is WAY LOWER THAN PAST QUARTERS...THIS MEANS that DILLUTION..will likely be much HIGHER, NOT LOWER as those holding on to almost worthless shares HOPE.
Massive DILUTION...is..GUARANTEED..along with .0001..and..REVERSE SPLIT...ONCI..is.a.PROVEN.SCAM
WAIT for .0001 even though..you will..lose..from..there..too
CLOSED the WEEK at .0003...What a SCAM..ONCI..IS
ANOTHER REJECTED DEAL...$175 for an APP..NOBODY..WANTS.
CONSUMERS HATE the APP.....AND..it..costs..$175..End.of.STORY
TWO YEARS AND NO REAL DEALS.
NOPE...Reverse Split...will send it at least 50% lower overnight.
.0001 soon
.0003s up next.......HUGE..DILUTION CONTINUES....
CROOKED STEVE IS CONTROLLING THE GAME....don’t..be..so..NAIVE
JUST CROOKED STEVE PLAYING TRICKS...Don’t fall for it
NOPE...The A/R did not DECREASE..one dime..READ..THE..FILINGS....A/R.goes.up.by.gross margin.number
Cost of Sales - Manufacturing costs are paid by selling shares. Leaving the balance which is all on A/R...EVERY QUARTER
REVERSE SPLIT IS WHAT THEY ARE SHOOTING FOR...OBVIOUS..to..see..for..EXPERIENCED..INVESTORS
AS THE SHAREPRICE..SINKS..EVER LOWER..LMFAO
PROVEN FICTICIOUS REVENUE....WHAT A JOKE
HAHAHA...GOOD JOKE....THAT IS NOT..worth..the..PAPER..it.is.PRINTED..on
YOU MEAN THE CROOKED CEO...LMAO
FALSE...THE COMPANY SOLD SHARES....NO..payments..for..AR received
SO much for Slapping the ASK...LMAO
THE SHARES WERE NOT REMOVED..They.were.not.in.the.float.to begin.with...ANOTHER..ONCI..SCAM
The price actually went down when that BS was announced.
Accounts Receivable NOT BEING COLLECTED.RED..FLAGS.SCAM!!!
The bottom line with ONCI is that every quarter for the past 10 quarters the Accounts Receivable increases by very close to the Gross margin. (revenue - cost of sales)
This past quarter saw Accounts Receivables (A/R) rise by $869,215, After the $635,921 cost of sales is deducted from Revenue you are left with $851,444.
So they are claiming $851,444 for Revenue for the quarter after costs, BUT are owed $869,215 more than the total at the end of the previous quarter.
This means that A/R from the previous 9 quarters has not been paid and that it rose more than the Gross margin in this Quarter. (AGAIN)
This is a VERY STRONG INDICATION OF FRAUD.
-----------------------
Copied below from https://blog.apruve.com/6-types-of-accounts-receivable-fraud
Fictitious Sales
Accounts Receivable is not actual money in the bank. An employee can fabricate invoices, which will inflate accounts receivable. But who might this benefit since an invoice isn't the same as receiving cash?
Sales people who work on a commission will benefit from an increase in accounts receivables, as it will show an increase in sales. To make this work, someone in control of accounts receivables will have to be in on the fraud.
Red flags for this type of fraud are invoices to fake customers or invoices that do not match the type of business a customer might generate. At some point, these invoices might simply disappear as part of the fraud and go undetected. Internal controls that monitor this type of activity can help with detecting fictitious sales.
NOTE: CEO Steve Berman receives a 12.5% commission on all sales.
-------------------------
More info from https://www.get.com/stock/2010/03/11/accounting-red-flags-10-things-investors-should-look-out-for/
Accounting Red Flags: 10 Things Investors Should Look Out For
1. Unusual accounts receivables growth. If accounts receivables grow at a faster pace than the company's sales, it can indicate that the company is making bad sales to companies unable or unwilling to pay, which could result in bad debt down the road. It may also indicate that the company is booking revenues before the proper time, which is one of the most common practices within the universe of manipulation. Future sales are simply recognized early, inflating earnings. The tell-tale sign, of course, is accounts receivable growth in excess of reported revenue levels. Studying the dollar amounts is not adequate to spot this. Instead, compare the rate of growth in year-to-year revenues and receivables.
ONCI has higher A/R in six of the past nine quarters than their Gross margin.
Bottom line is that ONCI is NOT BEING PAID for the past 10 Quarters on any measurable A/R at all, or it is made up revenue supported by phony sales contracts. A third option would be that they have shipped units to dealers on consignment but they have not sold more than a few units. This would need to be disclosed to investors. As they have made it look like they are selling 9K to 10K per quarter and that is not possible due to these numbers.
My hope is that this fraud is uncovered by the SEC and that the CEO is prosecuted for these alleged crimes. I hope no more investors lose money due to the fraud committed here. I was fortunate to find out about this fraud in time to avoid losing a lot of money.
DIFFICULT to find GULLIBLE enough INVESTORS anymore...SO.MANY..LIES.....ONCI..is..a..PROVEN..SCAM
NOTHING HAS BEEN REDUCED!!! LMAO....OUTSTANDING SHARES RISING...EVERY..DAY...DILUTION,..DILUTION,..and more DILUTION
CEO SOLD..at... .002357.. DESPITE telling US..HOW..GREAT..EVERYTHING WAS....THAT WAS THE END.
He realized that NOBODY wanted an app controlling their phone use in the car. Especially, when that APP costs $175
Consider that competitors who are all selling more are charging $5 per month and not selling a lot.
The CONSUMING PUBLIC HATES the APP. Employers do not want to force their employees into something that they hate.
The CEO met (if true) with at least 50 companies. YET NOT ONE contract has ever been produced OR VERIFIED as REAL. NONE.
THE APP STORES have a total of 9 reviews in TWO YEARS.
THE Accounts Receivable go up by the amount of the Gross Margin every quarter for 9 quarters in a row. This indicates Ficticious REVENUE. NO COMPANY would allow customers 27 months to pay.
ONCI is FRAUD and the CEO BAILED OUT LONG AGO.
ONCI SELLING SHARES...DILUTING...ONLY WAY..they..make..MONEY...SHARE.SELLING.SCAM
The DESPERATION is OBVIOUS..Buying at .0035 and all the way down was a mistake that he just can’t admit. ONCI is VERY clearly a HUGE SCAM which has been PROVEN 100X over.
SAD..but the CEO is a CROOK
CHANGING THE NAME WOULD MEAN NOTHING....A..SCAM..is..still..a..SCAM..by.any.name
ALWAYS LESS VOLUME..IN..JULY....DUH...I..THought..EVERYBODY..KNEW THAT.