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There are no questions about the patent valuation because its was not presented to the SEC. There is just a comment in the S1 that says the family wants to give itself 80 million in shares to buy its own patent. Buying a loaf of bread for $1000 may not be a smart business move but ESCU is welcome to do so if they were not a public company.
ESCU claims they haven't sold a share but Throneberry Investment Productions (institutional investor in ESCU) still has about 24k in ESCU shares according to the S1. Based on the holdings the company has had in the past (from the financials posted by Kimmons and EDWY) and the multiple R/S Kimmons has implemented it is not possible for them to still have 24k shares unless they have continued to buy shares.
The baggage remains. The information is very relevant.
If you plan to invest in this company you need to know how we got to where we are today. And you should want to know what could possibly bite you in the butt. There is no such thing as a rest or too much information about the history of the company,
They either have no products or they are lying to the SEC about the reason for the share issuance. Kimmons has also done the same thing. It didn't work out so great for him. So which is it?? Are we selling products or looking for money to invent a product?? I saw the block diagrams. They are laughable at best. There is simply nothing there and TIP is the investment group that thought EDoorways was the next sliced bread. When TIP moves out of daddy's house I may start paying attention to his plans to make up his kimmons' losses. It may be time to start investing in pizza again and quit trying to retire on the lies from Mr Kimmons.
Old institutional investors are even coming back around to try and salvage some of the losses they took with Kimmons' scam. They don't even care that this is a continuation of the same game. They just want to find a way to cash out.
No Debt? Oh no! More lies in the S1. This S1 is really unreliable. Great DD.
The SEC hasn't seen anything. They were not shown, products, clients, contracts or assets. Why would they have a concern about what they were shown when ESCU hasn't shown them anything but debt.
Thanks again for proving my point. They don't have a product to sell.
What did he do to get those shares? How much did Kimmons pay for the shares he has today? What did he do for investors to earn those shares?
So, the S1 is what matters? The noise around the Internet that says ESCU has products, clients, contracts, revenue and assets is all fabricated. The S1 that clearly states, no products, no assets, no clients, no contracts and just left over debt is the truth. Good to know. People may have invested in this scam if they didn't know about that. Thank you again for your DD.
Thank you for taking the time to point it out. In the S1 they say no revenue, no assets, new company, raising money to develop a product by 2020. On the blogs, they have even said it here, they already have products, clients, assets and contracts. That sure sounds like they are telling stories to the SEC. Or, maybe they are telling stories to investors. We know this company has a history of trying to pull one over on investors and the SEC.
Tell me again where I can go see there products in use today? I would also love to see where they are building products to fulfill orders.
Where are the installed products that I can go inspect and test? Very simple question. Where? I am ready to go inspect them right now. Can you give me an address??
Where can I go see a working model? Very simple question.
Great point. Lets look back at all the Kimmons/Quraeshi promises that were carved in stone. Lots of if when maybe if only kinda statements from both people. Can you show me where there is a signed deal for products or investment? Nope. you can't. My uncle will give me 6 billion dollars to create a time machine. I should throw that in an S1 and get a bunch of people to invest. There is nothing here and there never will be. This is just Kimmons skirting the law and moving his scam to the next ticker.
They either have no products or they are lying to the SEC about the reason for the share issuance. Kimmons has also done the same thing. It didn't work out so great for him. So which is it?? Are we selling products or looking for money to invent a product?? I saw the block diagrams. They are laughable at best. There is simply nothing there and TIP is the investment group that thought EDoorways was the next sliced bread. When TIP moves out of daddy's house I may start paying attention to his plans to make up his kimmons' losses. It may be time to start investing in pizza again and quit trying to retire on the lies from Mr Kimmons.
The share offering is out there to create a product by 2020. They have nothing to sell until then. TIP has been a joke for years now. Thats investment firm had been dumping cash into Kimmons' pocket for years now.
Not even in the same league. Dad did hard word and made a name for himself. TIP is trying to make money off the back of Kimmons'e promises. Never going to happen.
Does anyone know how much of ESCU Kimmons owns after the R/S? It looks like he and Sohail reversed everyone out of the market. All of the original Kimmons investors are all holding less than 100 shares. Thats crazy since Kimmons had Billions of EDWY shares in the market at one point.
Unfortunately, just like Kimmons, these guys are using equivocation to attempt to make investors think they are a legitimate company. Sure, if ESCU had a viable product they would get sales. The reality is that they have nothing and are millions and millions and years and years aways from competing with people who are already in the market. Pakistan is already tied to China for their wind project. Do you really think China is going to let a US company get in on their investment? Good luck with that dream.
I am looking forward to hearing Kimmons try to explain how this idea is different than EDoorways.
Welcome to EDooorways 2.0
EDWY investors will be following this one like a hawk to et their money back after Kimmons sold out and ran off.
This is the same way Kimmons did business. Hopes and dreams and clients and products but none of it ever happens. They say in the S1 that they need money to develop a product but then the turn around an say they already have a product and clients lined up. Which is the truth? They don't need 5 million dollars to develop a product if they already have one. And, why would they need public investment if these guys are already millionaires, have a big time investor, a product ready to sell, and the "New" CEO is a venture capital specialist (according to his bio). None of this adds up.
What does add up is Kimmons trying to get another payday and start selling the EDoorways dream over at FZRO while his friends try to milk more life out of ECSU. Same Same Same. Nothing changes with this crew.
Has Kimmons delivered on any of the fluff he has been posting sinc 1988 in his PR's? It looks like the same scam being sold once again.
The Escue Energy website talks about doing business in Pakistan. They better hurry up and get a working product. It sounds like things are moving quickly in Sidh.
PATENT SALE AGREEMENT
This Patent Sale Agreement (“Agreement”) is entered into as of September 1st, 2015 (Effective Date) by and between Escue Energy, Inc., a Nevada Corporation, having its principle place of business at, 1755 Wittington Place Suite 340, Dallas, TX 77056 (Purchaser), and Escue Wind S. L., a Spanish corporation, having its principle place of business in Malaga, Spain (Seller).
Purchaser shall pay to Seller the sum of ten dollars ($10.00 USD) and Forty Million (40,000,000.00) shares of Escue energy, Inc. (OTCPink: ESCU) common stock valued at $1.00 as consideration for the sale of the Patent Rights to Purchaser under this Agreement. The $10.00 shall be paid upon delivery of this Agreement, and common stock shall be issued in the name of Escue Wind S.L. (or a designee of its choice) and delivered by FEDEX to the Seller within 10 days.
https://www.sec.gov/Archives/edgar/data/1024095/000147793215007558/escu_ex104.htm
No mention of an appraisal in the sale agreement
The SEC does not do asset valuations. Even if they did, there wasn't an asset to evaluate listed in the S1.
The amended S1 was submitted showing the company has no assets
An auditor does not approve the price paid for a patent. ESCU could pay $10 or $100,000,000 for the patent and the auditor wouldn't care. The auditor isn't there to see if you are making smart business decisions. The SEC only saw that a share transfer took place. Once again, what you got in exchange for those shares does not concern them.
You said its not going to be in the audited financials until the 4th quarter numbers come out. As of now it just shows as a share transfer with no asset value.
I hope they also plan to detail how they arrived at the value of that patent.
I did notice that they finally have their website up and running.
http://escueenergy.com/
The S1 clearly states that the transaction took place on September 1st and the 3rd quarter financial show Escue Wind as a greater than 10% owner of ESCU shares.
The patent was bought and paid for in the 3rd quarter. It would be accounted for in the 3rd quarter. The asset value vs the acquisition cost is an entirely different topic.
Escue Wind is listed as a 10% or greater share holder of ESCU in the 3rd quarter and the S1 claims the patent was acquired on September 1st.
The 40,000,000 shares are included in the 3rd quarter financials. Is Ecsue Wind getting another 40,000,000 shares? If not someone needs to let the SEC know that the financials are inaccurate.
The share transfer shows in the 3rd quarter financials as well as the S1
According to the S1 the patent transaction happened on September first. The talk about the patent and its value began much earlier than that.
Has the appraiser been announced yet? We have been waiting almost a year to hear how this patent was valued.
The majority of the trades in the past year have been at the bid and well below the prospectus share price.
Does this stock still have a DTC chill?
That was over a month ago and still does not explain the forty million dollar patent evaluation.
It won't be long before this ticker receives its DTC chill. Seeing Kimmons on the payroll automaticly thows up a huge red flag. Deadbeat con artist as the CFO? Like they say. There are a lot of eyes on this comapany.
Every sale has taken place at the bid. Yes they are selling. Every chance they get. They just wish they could sell more. The lack of liquidity just means they have to hand out bigger discounts to get cash. Did you notice that the "$40,000,000 asset" was sold at a $1.00 pps? That doesn't say much for where they think the PPS is going. If the worthless patent was sold at 1/3 of the pps I can only imagine what the "institutional investors" are getting for a discount. Recycled names but the game is the same.