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WTG Peter and crew. I believe this type of accomplishment deserves another 100% increase in salary. And while you're at it why not hire some more pigs to feed at the trough. Sapx isn't the scam, only the people "running it"...into the ground LMAO.
Naz finally and rightfully buried this Pig. Just a shame PH still takes home a 500k salary.
To lowhangingfruit. Yes I've seen all that and this list and tangled web just goes on and on. You were absolutely right and if you are/ were short you deserve every penny and then some. Ya know we always look for that hidden gem fundamentally speaking and I thought just maybe. Warning flags were when promised projects kept on getting rolled back. Next was the 250k raise PH was given. Next the obvious dilution and PH coming up with some far fetched notion of why the pps was down. His, and the BODs, inability to do anything but enrich themselves and dilute to the moon borders on the criminal.
Again Cheers on a great call.
LOLLL even if there was a positive note in regards to earnings just another reason for a mkt dump. Awhile ago I had stated Sapx needed at least a 10 mill day for movement up. It happened and tankola. That was truly when I realized no hope here at all. I can guarantee you if the BOD had BOUGHT a significant number of shares Sapx would be much higher but they ALL were VERY aware of exactly what was going on and they were just luring unsuspecting newbs in to buy the dump. Funny but sad if you look at the resume of the BOD members most of them have as their credentials "expertise in obtaining funding". In my decades of investing/ trading this company and the bozos running it have got to be the most pitiful I've yet to see.
Who is JMJ???
http://stock-bb.com/seven-arts-pictures-plc-nasdaq-sapx/323-jmj-financial-now-wtf-they-really.html
Further Info:
Google "JMJ Financial toxic"
and NO I am not short and was a big supporter of Sapx when it was in the teens- sold all at .11 and at this point all I can say is WOW the bashers?? here nailed this one.
Well done PH on a richly deserved $500K bonus. We're all a rootin' for ya...NOT
And I was laughed at when I sold all above .11 cents. Gotta hand it to those that nailed this one. If so many knew of all this cr@p going why did the Naz not intervene sooner. For me the writing on the wall was when Directors weren't willing to risk dime one on this POS. Doesn't matter to them because they'll all just move on to the next trough to feed from.
That they're flat tapped out broke. Note the "Hoff" took shares in lieu of pay. Ya really think he wanted them? Also ongoing concern warning from auditor. Now for the good stuff. Lots and lots of promises, forward rev growth, negotiating more stuff for Neo, blah, blah, blah. What do you expect from a lawyer except words. Oh and also the BIG ONE where he announces SAPX is now trading at less than 10% of value LMAO
Guess it's time to issue 5 million options @ 0.02 to reward the Bod for such a wonderful job in enhancing shareholder value. So glad I dumped everything above .10. Seems with Peter's secret plan he didn't disclose that he was about to devastate shareholder value. Really feeling for longs and those fell for the pump. Hey Peter at .15 you stated SAPX was trading at 20% value. Guess the Bod still isn't seeing value in shares yet. SAPX and the directors are one big joke and deserve to be delisted. Hey Pete even if SAPX was listed on the OTC you could still pull in 1/2 mill.
Unfortunately many of us, including myself, thought the cancellation of the convert deal was the end of dilution. If there are all these other converts coming down the pipe I can see why PH cancelled it as share count would've easily have been out of this world. Business wise SAPX management doesn't have a clue- pay a bill= converts, acquire a company= converts, financing= converts. It makes me wonder if their business luncheons are being paid with converts. These turds are working with a bottomless wallet- ours, not theirs and I clearly see why they own such a tiny amount of shares. They are clearly not taking ownership of the problem and the issues at hand that they themselves have created culminating in a daily devaluing of our OUR and the company's assets. What can I say. Seeing as they have less than 30K in cash I'm wondering did they CFO ever kind of say to PH "Ya know we're kind of low on cash"? A 6 yr old running a lemon-aid stand would have more financial whereabouts.
The Shorts were dead right about this one.
Not bashing as I own shares but my estimate will be minimum 50 mil. On one hand PH cancels the Res 5 convert deal but on the other hand knows he has Res 4 and 250 mill to sell if he wishes. I'll be pi$$ed if he has been selling and will realize as he's been giving us double talk. If I were the CEO and board I'd be buying a mill+ shares and the fact that there appears to not be buying is very troubling. C'mon a mill shares would be less than a hundred grand.
Was buying sub .09 in a diff account. Still have a small amount in another acct from when I said I was selling- 60k.
Chart Here- Guess I don't look like such an idiot for selling 2 days ago. Chart is still in downtrend and except for small pops heading lower. Draw trend lines on chart and .085 is bottom trend line and pop to trend line .11
Lower lows and lower highs. Actually may be bottom .08 area but traders buying above that price point.
http://postimage.org/image/giaqs45n1/
MASTERTRADER re: inbox I was thinking the EXACT same thing LOL. I also agree this is just nutz. Pinkies and OTC trades higher than this and aside from all the negatives this is a screaming buy for those with patience.
No not really an overwhelming worry. I just hate researching only to run into dead ends. With all these shares being dumped I just wish Hoffman would come out explaining what's happening. At this point I could care less about dilution or whatever else is going on and just want to know exactly what's going on. The unknown has always bugged me
Thank you. Yes I had seen that story. With the original Seven Arts owning the rights I believe the new SAPX owns the rights to NEO but was there a deal between SAPX and GFM? Really quite mind boggling and frustrating when we research and find all these different agreements. Add to that no real details on much of the info.
Cheers and thanks again- good job.
Clear up some misconceptions:
PH does not own the rights to Neo
"In March 2011, with the news that Seven Arts and GFM Films would be merging their distribution operations, it was announced that the joint venture would be purchasing the rights to Neuromancer."
GFM Films/ SAPX has a website but it's not up and running yet:
http://www.gfmfilms.co.uk/
It doesn't matter who owns it or who the technical players are. All that's important is they're moving forward. As for the pps and management you all know my feelings about that. Should be enough loot/ profit to spread around for everyone.
GLTA
No it isn't and this is the resolution they were speaking of:
5. The Board of Directors was authorized to issue up to 25 million shares of our common stock at a price below the greater of book value or market price of each share at the time of issuance. This authority could be used, if at all, to continue to reduce our debt or to implement one or more financings (e.g., to reacquire the distribution rights to twelve of the Company's motion pictures from Arrowhead Target Fund ("Arrowhead") and to settle the Arrowhead litigation previously disclosed. Such a settlement would result in the elimination and return to income of the approximately $1,000,000 reserve currently held on the Company's books and could increase the Company's revenues. As of today, the Company has not entered into any definitive agreements with Arrowhead).
BUT there's still Res 4
3. Our Articles of Incorporation were amended to increase the authorized number of shares of capital stock to 250,000,000. This amount is designed to meet the needs of the Company for business and/or financing purposes in the future. The Company expects to continue its program of reducing indebtedness and increasing stockholder equity for the balance of the fiscal year, but management intends to be sensitive to the public market's treatment of the Company's common stock. Management believes that realization of the Company's business plans as previously announced will result in the stock appreciating to a per-share market value in excess of the per-common share book value, although, of course, market price and trading activity are not assured. As of March 31, 2012, the Company's production and other loans have been reduced to $8,000,000 from $11,500,000 as of June 30.
If you look at their last ER they had about 30k cash. I have more than that in petty cash lmao. That was my one big concern. I believe they are resolving that cash issue much to the detriment of shareholders. I really do hope it runs but I'm protecting my profits and refuse to support a company that has no regard for shareholders. Who the hell tells the financier to jump in a lake when they only have 30k in the bank? absolutely and stupidly irrational- maybe he was drunk at the time
Good Luck.
As stated I traded sapx many times and decided to sink 75% of my profits into sapx when it bottomed at .10 as posted. This was all stated previously here.
Many times I saw the ask below last price so they were really pushing this down and basically it appears it's the same old death spiral financing that Hoffman so eloquently said was finished. The lower it goes the more shares someone can buy. We've had 4. 5, 7 and now a 10 mill share day and the pps still goes down? Pumpers can hump this puppy all they want but anyone can see the writing on the wall.
Don't like the "smell" of this company and management and am in the process of selling.
The history of SAPX is death spiral/ toxic financing so whether it was at $3.00 or 30 cents it's should been the responsibility of the person in charge of financing at SAPX to accept, acknowledge and take ownership for the financing and the predictable outcome. I really don't see that person stepping forward and taking responsibility for this problem. Kind of reminds me of someone who spends and spends and spends on their CC until one day they realize they can't pay the bill. As posted before PH has made countless enemies that own shares. IMO it is their intention to pay back PH via SAPX and they've made this a very personal vendetta. Another point in regards to OS. Last ER they had $30k in cash. So PH, in a very dramatic NR, tells us no more converts being sold but it seems he may be still selling shares. I want to know where the much needed cash is coming from? Another poor business decision- dis your financier when you've got squat dollars in the bank- a simply brilliant move that must have taken much thought. With this kind of thinking I am so glad PH gave himself a 250K raise last yr. What's even more upsetting is PH blabbering about SAPX being undervalued yet a pitiful amount of shares owned by the directors. As you may have surmised PH has just made another enemy and my distrust of him grows daily.
Let's see if it's acts normal and starts running @ 9:50- 10:00.
Thank you kindly MD3. I'm not really expecting much except somehow wanting the sellers to lay off for awhile. Fundamentally SAPX is moving in the right direction and considering it's 12 cents stock I shouldn't complain too much. My biggest concern at the moment is immediate cash inflow.
If he can't or won't answer the questions I posted don't worry about it and at least you can say you tried which is success in my eyes IMO.
Cheers.
MASTERTRADER from inbox I agree because we're the ones that held and hoped.
Cheers.
Prolly and they obviously have already been buying. Funny that some amazing NR can't lift the pps. Here's hoping enough traders flock to this one tomorrow. Hoping for 10 mill vol and then maybe the gates open IMO.
Thanks Smoothtrader
Yep sadly many here watching day to day and getting disenchanted. Still not tickled pink with management but still holding all shares from the lows.
I know someone that spoke to him and I'll say no more. Yeah I agree doubt if anything will come of it.
Is the Neo financing complete or how close is Prodigy to closing the financing?
Is SAPX in any way, shape or form selling shares?
How are they going to deal with the immediate cash issue? Is there any near term immediate revenue flow that he can speak of?
If SAPX is 20% of true value, as per his statement, why aren't directors buying on the open mkt?
And last but not least:
Ask him to get down on his hands and knees and beg forgiveness from those he ticked. He knows what I'm talking about.
Nice Close!
That's the message I was expecting today from someone here