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The posters pumping this stock
You are also threatening to report me.
Please do, I full investigation into current & past activities of this company & directors, including that lying thief Vincent Browne is long overdue.
Don't make me laugh - John McQuillian couldn't lead or direct shit.
He is there on the Board, because Vincent Browne can't be.
Maybe seeking companies to acquire, but hasn't made any progress to-date.
Plus two poor companies doesn't make one good one!
Failed, best left to die quietly!
So given its been 3 months since the announcement of the LOI to acquire NSync but no closing or completion details or timeframe, I believe this deal is dead.
The great acquisition strategy, spearheaded by Growthcap Investments, Inc. failed at the first opportunity, proving it was just promises & intention based on non-certain plans & funding.
Oh, so typical of anything Vincent Browne becomes involved in, such a lying, fraudster scammer. What a LOSER.
Happy Christmas everyone & here's hoping for the truth, honest announcements and to only deal with decent lawful people next year.
And for those who have lied & stolen, they find some peace within themselves for their past actions and the hurt & pain they caused others.
Oh come on, even on Christmas Eve no Santa is going to be able to deliver that, from this no hope company.
Just like FLTT, this company specializes in dishonesty and practices fraudulent and intentional deception for monetary gain.
I hope that the ghosts of Christmas Past are visiting Vincent Browne and reminding him of all the people he has stolen from
But I think it runs deeper & is the underhand 'sell off' of Send Global, leaving the debts in iTeknik, which just dies on the vine, with reducing revenues & unable to service its costs, but then they have a new company to offer & go again.
I think all the shareholders should demand a EGM to call the Company Directors to account and answer the stockholders questions as to what they have cooked up.
After all, the shareholders in iTechniks funded Send Global's startup and operations to-date, just they won't see the benefits now, as it has been 'sold off' without their consent.
So they will pop back up with Send Global, offering new shares for fresh money & investment on the same promises.
And so the cycle of lies continues.
Borders on total fraudulence, but only it you look at the bigger, inter-related picture.
Thought so!
Very disappointing, but somewhat predictable as there have been no other surviving companies once touched by the 'finger of failure' aka Vincent Browne!
But, still scraping along the bottom, with no news or announcements, so continuing to suffer from poor working capital from thin margins.
Can it make a turnaround & be saved?
Unfortunately you are the only one who has noticed and the only one who cares.
Long-term or even medium term this stock is going nowhere as the company has failed. It has failed to execute its strategy, any strategic goals, retain customers & retain customer revenues. As a result it has no customers, no products or services and no staff, therefore no company. It has not released any financial information in over a year.
The Directors are not being accountable for their adept failure.
It is now a worthless POS.
Or "Virtual Mailbox Service" for what is now a virtual company!
The web sites for both iTeknik & SendGlobal are still down.
No way to run a business!
No, he would look in the eye while he robs you blind! Such a shameful character.
Just with such a change in reporting structure, it should be called out in the Quarterly Report to explain the change/drop. Obvious iTeknik's management don't give a damn on reporting, transparency & SEC rules!
Seems strange they don't mention this in the text. As if they have something to hide!
So who is running SendGlobal now?
Seems to me that they are about to shaft their current investors in iTeknik, having put everything in SendGlobal, then just leave the new debt orphaned & unserviced. Oh, sorry on a promise of a payout from SendGlobal, which surprise, surprise never gets paid.
iTeknik will then just become an empty trading shell, which will just wither away, meanwhile the boys are all in the new entity & ready to do it all over again, with someone else's money.
Unfortunately this pattern is reoccurring almost every 2 years with any company Vincent Browne is associated with. He is such a loser, every company fails.
But there are debts now, or certainly $30k of interest payments recorded as outgoings. This was not there 12months ago, therefore new debt to service from decreasing revenues resulting in losses using cash reserves. These are now gone, so it's either reduce costs, i.e. staff or become insolvent, as the business won't be able to cover its costs & service its debts.
Of course reducing the workforce means lower revenues and reduced ability to service the debt, so a fast downward spiral.
AXLX is BK
Insolvent as it can't service it's outstanding debts as it has no revenues.
Another failure for Vincent Browne.
Grim reading.
Revenues down over 50% to under $1M a Quarter.
Operating expenses remain in the same ballpark, including S&GA
Cash down $160k
Interest payments now $30k/Quarter so the company now has to service debts, presumably to 'fund' it's M&A activities. Or is that to pay for expensive Advisors, Consultants & new Board members?
Company now reporting negative EBITDA for the Quarter, so what was a profitable company is now loss making, with Debts to service & decreased Cash assets. How long can it continue, reduced revenues, making losses and with debts to service.
Dare I say it, 'the Vincent Browne' effect on companies leading to failure after being sucked dry.
Too true, unless you need to announce the LOI to support fund raising necessary to get the deal done. i.e. You can't complete the deal without further investment & funds because the cash isn't there in the business.
The PR would then be required for a 'Pump & Dump' round or Toxic debt funding.
Anyway the deal can't complete until the investment is found, no funding no deal & it just remains 'Intent'.
Basically the Vincent Browne way - promise high, then fail to deliver & fail at completing, so just a big fail all round.
How can it be a good sign?
If there is new content to be loaded, or a new web-site, this is just BAU activity and doesn't involve outage.
How can a company not know that their web-site is down for days.
If they not paid either the hosting or the Domain Registration, it says 1 of 2 things:
1. Either they don't have the few hundred dollars this takes or
2. They have forgotten that they had to pay them, which is not a great indication of viable business processes, not paying your suppliers.
I wonder if anyone is still home?
John McQuillan & Tali (Dart Business Services) are Vincent Browne's puppets & doing his bidding for years. Watch for the strings!
How can news 9 months old ever be classed as current?
Unless of this is the latest fraudulent attempt by Vincent Browne to make a buck out of gullible 'investors'.
Don't!!!
A 1% profit margin doesn't really allow for a well considered M&A strategy with good DD undertaken.
Raising investment on those numbers will cost bottom line, 'Pump & Dumps' & toxic debt just calls the end of the business as this business can't afford the debt. Wishing iTeknik all the luck, but I think it is a hopeless case.
Absolutely, the usual complete bullshit from Vincent Browne. His opens his mouth and the BS and lies just come out!
He probably still thinks he is a successful businessman, where the reality is that he is a lying scam-artist fraudster & thief.
That 'news' was the subject of a Press Release in February, which was the last gasp of life from this company and the Vincent Browne 'Pump & Dump' machine. Nothing has happened with this company since, no further announcements or evidence this was anything more that just the latest set of lies and fraud from Vincent Browne.
Who BTW is a fraudster, lying scam-artist thief.
Obviously the remaining stock holders in this, now dominant shell, have realized nothing more is happening or going to happen for this company and are rightly dumping.
RIP AXLX
For a company only just surviving on single digit % margin points, I don't believe that international expansion & the costs involved would be wise, so discount that option.
Vincent is probably very aware that his name is shit in the market as a scamming con artist, never mind fraudster, liar & also with investors, after losing them millions in his past failures, so will want to keep it off the filings & 'announcements', hence using a front in the form of John McQuillan, on the board, with whom he can direct involvement.
Again go find details on Growthcap Investments, Inc. there are none.
No past proven successes, not even a web page or a set of filed accounts, so just a front for someone!
Smells like Vincent Browne, and if it smells like bullshit, probably is bullshit!
Why else, other than a personal association, would a tiny accounting firm in Dublin, Ireland employing 1 or 2 accountants (including trainees), who normally just do the returns & filing for small local Irish businesses, suddenly be the named Accountants for a company in the USA?
Why suddenly was John McQuillan added to the Board of iTeknick, isn't as if he was a former CFO of a industry appropriate & relevant successful company, or has a wealth of experience as a CFO of a US Company, nor a Board Member in general or any proven success record internationally. Basically just a basic Accounting function with a working knowledge of the Irish Tax and Revenue system - of little (zero) use to iTeknik. So obviously a role in iTeknik fronting Vincent Browne, whose name in the industry is shit, as so many investors have lost money & shareholders holding now worthless stock.
Then Dart Business Services, which is the practice of a sole lawyer, who has been working exclusively for Vincent Browne, to process SEC filings, draw up 'Investor' notes, LOIs etc. for the last 8 years. Again why would iTeknik, as an established company have any reason to change this positions from what they were before to these, unless there is something going which they are not telling.
Both these individual based companies have been the backbone of Vincent Browne's 'Pump & Dump' scam machine for a number of years throughout FLTT & AXLX.
The only thing that came of those ventures was failures, debts, losses, lies & fraudulent behavior.
The recent M&A & announcements is typical of Vincent Browne, all hype and no substance, designed to con people into believing there will be future growth. Perhaps this time, his investor base is on to him & not lending (giving) him the money needed to fund the 'Pump & Dump' program for iTeknik. I do hope so, it would be a shame to see another company ruined by him.
According to the OTC web-site iTeknik's Accountants are now John McQuillian's Accounting company in Dublin, Ireland & Legal Counsel is Dart Business Services. Both these companies are historically associated with Vincent Browne, holding these roles with both of Vincent's last two business failures (AXLX & FLTT).
Is Wicks still CEO or is the fraudster scam artist Vincent Browne managed to get his hands on another company to ruin & put out of business?
Predicting another business failure here!
There's no chance of that happening, this company is dominant. All of the assets gone, no customers, just a pile of debt & unpaid creditors.
Another Vincent Browne failure.
Say goodbye to your investment stockholders!
Anyone been able to find anything on Growthcap Investments, Inc?
They have a 'material holding' in iTeknik and claim to be advising them on corporate strategy and acquisitions. According to the Press Release from June.
But there is no web-site, no evidence of past engagements or documented successes.
How can that be? But no further details, pure bullshit from a total bullshitter I suspect!!!
Another words it is never going to happen!!! It wasn't anyway as everything run by Vincent Browne has failed.
And you expect those to be complete and truthful!!!!!
And certainly doesn't need Vincent Browne's fingers over the deal or in any advisory capacity.
I hope he has been fired, as that scamming con-artist thief would leave every investor high & dry.
That assumes there are profits from the new company.
If there are, then why are they selling?
If not & margins are super thin, then the longevity of the company, its stock & the investments made is very questionable as the loan, probably a toxic debt loan, takes any cash first. As long as they get their money and return they don't care about you & I.
Anyway not my shout, but doesn't look pretty.
And how is a business that is just barely able to make a profit month-to-month going to be able to acquire one making 10%! You're having a laugh.
Just like AXLX it will buy a shit one, which will drag down the whole operation into loss and it all ends up in the toilet.
Or even on the chance they buy something barely reasonable the cost of the debt need for the the DD, M&A, closing will suck that wafer slim profit margin away and folded.
So they would be better continuing doing what they have been and fire their Equity Growth Advisors (aka bullshit artists). At least staff, suppliers and taxes are being paid at the moment.
Exactly AXLX has nothing to sell, zip. All gone, destroyed by bad management i.e. Vincent Browne. Anything good went with the liquidation of the Irish company and has been sold for peanuts, if that.
So no products, no services, no staff what a complete failure by the principles of this business. Plus it is the 3rd time failing in business.
You got it, all promise & expectation.
I hope there are no lies here, as there was with both FLTT & AXLX, but if Vincent Browne (scamming thief & all round business failure) is involved expect the same.
2 month later just a Letter of Intent, not even a closed deal!
Ha, very likely to be
1) "Nothing to report and company's new direction bombed" or
3) Company just do not care about their shareholders/price per share and does not require any additional funds to operate or even't more likely
4)Company no longer operating
EXTREMELY UNLIKELY TO BE
2) "Company is so busy doing deals and generating revenue they just don't have the time to inform their shareholders. or
5) maybe Dude....'s prediction for SEPT 25/15 reverse merger.
Company is a bust, Directors and Principles are scam artists, thieves and liars, stock is worthless.
Shame nothing ever came of this, all Press Release and no action, however we have seen this before from other companies Vincent Browne has been involved in, trying to scam investors with hyped news, made up intention and hope based on lies.
But $36k of annual profit is very easily spent on M&A activities (it's only $3k a month) and if you don't do the correct level of Diligence you end up with more shit to manage, plus take the eye off normal operations & that profit margin is gone. Going to be hard & I don't rate it possible.