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yea, that filing is really complicated. peanuts for revenue and expenses comprising of payroll for a few employees.
the challenge is to hide all the "benies" the insiders are sucking out of the company.
I haven't posted here in awhile but here's somegthing i posted over year ago. It wasn't 100% accurate but pretty close.
http://www.investorshub.com/boards/read_msg.asp?message_id=6073347
steh, here is the link:
http://www.boston.com/news/globe/living/articles/2005/10/18/ripped_off/
article in boston globe this a.m. probably about scmi. only 15mm protected so far?
if it walks like a duck....
the real clincher for me was the stock dividend shell game. what a scam that was. basically it diluted scmi shareholders by 50% without any cash infusion for the company. why did scmi need to be diluted by so much just to merge with a reporting company, a reporting company that is controlled by insiders? that said, i'll be real surprised if the merger ever happens.
i'm into this stock in a big way because of statements made by pj and other insiders which have never came to fruition. i will not sell because i am down so much that i have decided to stay for the end game. i am not hopeful because i have learned over the years that when you catch them in lies it spells doom and this company takes the cake for deception.
good luck with any class action suits.
stingray
<<<Just a rehash, 2 million CDs were in April ! Then the billing cycle starts probably takes at least 30 afer billing until payment is received. You have little choice until revenue stream is large enough to offset exprenses.>>>
stingray, that's the problem. you seem to be in the business of providing explainations(excuses) for this company. if what you say is true why wouldn't the company just come out and explain their cash flow projections. despite the fact that they are dumping 90m shares on the market to take care of day to day expenses, it would at least let shareholdes know what is going on.
let's all get real.
when you invest in the pink sheets you assume a high degree of risk? this company is nothing but a typical pink sheet shot in the dark where they need to lie again and again to keep the story going.
it takes lots of time for a fledgeling company to develop in a competitive market. most stockholders don't have the patience to wait it out. this forces the company to keep them pumped up with fluff. the sad part is when things dont develop within the promised timelines investors go bullistic.
only a very small % of theses companies ever make it to the "promise" land. my advice: put your shares away and forget about them. it's going to be awhile before we see any "REAL" progress, if any is indeed forthcoming.
<<<are they implying we are with them throughout the world?>>>
why should, they be specific when their own stockholders put a positive spin on just about anything. basically, they have a free pr firm aimed right at the target market.
<<That starts the ball rolling, but they've got to do 2 years of audit work on both companies and then file an S-4 with the SEC.... it'll be a few months>>
why will it take months?????????????????
what do they need to audit???? certainly not much in revenues.
the audit should be completed in less time than it would take to audit little joey's lemonade stand!
just another stall tactic by the flim flammers.
<<Why hold the stock and bash management?>>
if you would just put those pom poms down long enough to realize that, if you arn't vigilant they will continue to pick your pocket...or steal your purse, whatever may apply.
dad, i have less doubt that our technology will make some headway in the long run than i have in the fact that peter won't continue to fleece scmi holders with his transparent shell games.
gregg, finally someone who gets it!
even if this merger goes off at 1:1 (i will believe it when i see it), scmi holders will take a dilution hit.
gcrox:
you make a valid point. the irony here is that they are probably pumping the mmxt stock price with the 90m shares they should have used to pay us the promised dividends. so in effect they are using the qtig dividends to dilute scmi stock.
thanks peter.
dad:
you know i have been around for awhile as a long. i am not a basher.
i just don't like the way this smells right now.
hoping for the best but my gut is telling me different.
this company has a history of not keeping their word.
first they cancel the dividend, now they throw in the dilution.
in my opinion they are full of _hit.
1:1 merger. yea, right. i will believe it when i see it. the market usually gets it right and scmi sells at a huge discount to mmxt. if this was going to be a 1:1, the market wouldn't be giving away such a premium. the gap would be filled in a ny minute.
why did scmi have to give away so much to set up a shell(mmxt).
shells can usually be established for a few hundred grand. the reason? peter and co. controlled most of qtig. so in effect, the scmi shareholders were raped for 50% of their company. then promised dividends which were subsequently taken away.
the short squeeze is just another ruse by peter to get the sheeple to want a merger. that won't amount to a pile of beans.
my prediction: mmxt takes off on the stern and other hype. scmi goes sideways or down. there will be no merger. peter and company will unload their mmxt shares while scmi wait patiently for the mmxt shares they will never receive.
it's hard to change stripes on a zebra.
spenny. it's amazing how similar rabbit's ears are to a donkey's.
be careful, all's not what it appears.
mario:
with all due respect we really don't need any bread and cake analagies. what we need is factual proof that scmi stockholders are better off without their dividends.
i'm looking forward to that factual explaination at the shm.
<<I believe we will find out that the remaining QTIG shares will be turned back in to the treasury and that it will have been necessary to do that in order to get a 1 to 1 merger.>>
collin:
thanks for the reply. i agree with most of what you say but, re: the above, i'd like to see the math on how not paying the dividend was necessary to get to a 1:1 merger.
i have a huge stake here so i will wait to hear what they have to say at the shm, but being on the pinks is no excuse, credibility is important. if they botch this issue, they will pay for it sooner or later.
sumday, you seem to have all the answers. then please answer this question.
why does the merger preclude scmi stockholders from receiving their promised dividend?
if, as many (probably qtig holders) have stated, the dividends are such a minor issue, what's the big deal about issuing the dividends. especially when the companies credibilty is at stake.
sahd, i think you watch too much jimmy swaggert.
<<SCMI can go on operating as Sunncomm the pk sheet company and Media Max Technologly can operate solo as well. If and when all the contracts that are of rumor out there get announced, you can best be sure they will be MMT contracts with MMT pr releases, not SCMI. So your tiny little dividend will make some good change. All of the SCMI shares will just flounder as they always have>>>
collin:
another question? by getting our promised dividend, why would we continue to flounder? don't we own the technology??
first we give up 40% of our revenue to qtig for peanuts (qtig 90% owned by peter et al). then they tell us the shares we received for giving up the 40% will not be available for the promised dividends. now you are saying that if we recieve the dividends there will be no merger and scmi shares will continue to flounder.
this makes no business sense because it's like all those shell games that you see at the carnivals.
<<There is a solution that everyone seems to want. How about, SCMI holders get there dividend. It is such a miniscule dividend, and then we just call off the merger. SCMI can go on operating as Sunncomm the pk sheet company and Media Max Technologly can operate solo as well.>>
collin:
what am i missing? why does issuing the promised dividends create the need to "call off the merger? tia
dad, one more point...
since i own over 2m shares of scmi/qtig this is a meaningful issue for me. we are talking about almost 500,000 shares of anticipated dividends that they decided to cancel.
as late as january'05 they were still insisting that the dividend payouts were coming. there is no good reason why they can't pay these dividends. it will simply change the ratio of qtig/scmi shares in the new company (mmxt).
scmi sharholders will hold a higher % of mmxt.
peter and his entities own most of qtig, and it's not in their financial best interest to distribute those shares.
that's why it's a scam.
dad:
i still don't get this either/or stuff.
if the dividends are not a deal killer for the merger then i'd just as soon have it in my account.
it's better in my pocket than in the pocket of qtig shareholders.
dad:
i don't follow your argumnt. how does a issuing the promised dividends prevent the merger from going thru?????
spenny:
that was the worst argument i have read on this board in a long time.
you make no sense.
since scmi gave up 50% of it's revenue for shares of qtig stock, it would be a total ripoff if scmi shareholders don't receive the qtig shares that were promised in 4 dividends.
what this amounts to is a major dilution for scmi holders.
since peter and his cronies own most of the qtig, it's no wonder why they are trying to pull off this scam.
if they only issue 260m mmtx shares to scmi holders the dilution will be 260/450 = 57.8%. and this is after they diluted scmi by 50% by giving 1/2 it' revenue to qtig to be it's market it's product....and now refused to issue the promised qtig shares as a dividend. that takes brass b-lls.
it's was a crafty scam to move value into the hands of peter and company.
600,000 in pre-market. haven't seen that in a while.
unfortunately i will have to put you on ignore.
stehisit:
i have been a stockholder since august and, although i haven't posted, i have followed the comments here.
you're posts have become nausiating:
we know:
1. you dont' trust the company.
2. you don't trust peter.
3. you are angry because they havn't' reported yet.
4. you don't believe that they have any deals forthcoming because the price pps would be reflecting that already.
5. you don't like reading all the optimistic predictions because most of them never pan out.
6. etc. etc. etc.
please refrain from making anymore comments on these issues. you have made your point. we know where you stand. if you plan on holding your shares, ignore the pumpers and sit back and watch as things develop one way or the other. i repeat, ignore the pumpers.
i consider it a positive because it's rare for someone to load up on friday of a long weekend.
410,000 share trade a/h