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The only positive from this entire sordid affair is that if Schramm has to now rely on bogus pumps to try to unload shares, he most likely is broke. While Schramm was the face of this scam the Spanish fellow who initially sold Schramm the shell company was the person who made the most money during the pump phase. I’ve been told by people who bought stock directly from Schramm, that Schramm was just a puppet in this whole thing and the Spanish guy was really pulling the strings. If this is the case I suppose Schramm will be making another visit to bankruptcy court shortly.
The only positive from this entire sordid affair is that if Schramm has to now rely on bogus pumps to try to unload shares, he most likely is broke. While Schramm was the face of this scam the Spanish fellow who initially sold Schramm the shell company was the person who made the most money during the pump phase. I’ve been told by people who bought stock directly from Schramm, that Schramm was just a puppet in this whole thing and the Spanish guy was really pulling the strings. If this is the case I suppose Schramm will be making another visit to bankruptcy court shortly.
The only positive from this entire sordid affair is that if Schramm has to now rely on bogus pumps to try to unload shares, he most likely is broke. While Schramm was the face of this scam the Spanish fellow who initially sold Schramm the shell company was the person who made the most money during the pump phase. I’ve been told by people who bought stock directly from Schramm, that Schramm was just a puppet in this whole thing and the Spanish guy was really pulling the strings. If this is the case I suppose Schramm will be making another visit to bankruptcy court shortly.
Rawman you obviously were right on Schramm not spending the money to bring the company current. It bothered me why he would make the first announcement at all. The only conclusion I can come up with is that in Schramm’s deluded mind he thought making the bogus announcement would revive interest in the company and possibly drive up the stock price where he could unload more of his shares. Unfortunately for James that ship has already sailed and everyone already knows it was a scam with him the head scamster.
Middle December and still not a word or SEC filing to be found. Schramm obviously didn’t have any intention of bringing the company current as he said, but it is still a mystery why he made the announcement in the first place. If the regulators were causing him heat, you would think they would still be doing so 2 months later. We all know that Schramm is a lying scammer but this just doesn’t make sense. Today 500 shares bought for $1 also makes no sense since the commission was likely 5 times that amount. The trade likely was made by Schramm to give the illusion that the company is still viable.
Rawman why would Schramm even bother to put out the PR releases if he was planning to de-register The company with the SEC? He could have just done nothing like he’s done for the past 3 years and de-registered. Maybe there is a law enforcement aspect to this that is not yet public. I know of many shareholders who filed complaints with the SEC and it’s possible Jimmy boy is just plain scared and reaching for straws at this point. Only time will tell but I for one will gladly have my stock go worthless if that means Schramm goes to prison.
The latest announcement yesterday said due to technical accounting problems the reports will not be ready until beginning of December. How long can it take to fill out reports that every line is -0-? The only line that is likely not zero is the line reporting the salary of the CEO.
I guess schramm left the building long ago. I know there have been a multitude of SEC complaints filed against schramm and the xlit company as well. No idea if there is a criminal investigation but many of the complaints included evidence of stock manipulation. We can only hope that the US government will arrest schramm and the Spanish prior owner who received the bulk of the ill gotten gains.
After 2 days of zero volume I guess schramm was concerned so he sold 100 shares to show the stock wasn't halted. After commission the trade nets out -5.75.
already dumped and the dump should continue back to 2-3 cents before all the scammers have exited.
Dick if that is true, I stand corrected. We are actually on the same team as I have helped to have over 50 individual investors file SEC complaints against Schramm, XLIT, and Traders Choice. Funny how the traders choice emails have stopped for the past 8-9 months. Even though I lost only a little amount of money in this, I stand for what is right, and seeing people who steal hardworking individuals money brought to justice. Hopefully in the end once schramm completes his prison sentence, he will be too broke to hire a new bankruptcy attorney.
Just a simple question Dick, if Michael and the rest of your group were hoodwinked as such why did you never try to sue schramm or even alert the SEC to the improper and probably illegal private stock sales? Seems to me if Michael was truly screwed over he would have sued XLIT and schramm to try and recoup the lost money. Because you never took action I take what you say with less than a grain of salt.
In addition, your continued defense of this Michael guy indicates to me that he was somewhat if not totally involved in this scam. It's possible that schramm screwed him over but it's very possible that his initial intention was larcenous. More than likely Michael was the source of some of the traders choice $1.2 million used to pay for the pumping of the stock. Schramm may have screwed him over with restricted stock and thus the posting here offering to sell his stock privately, or the stock crashed so suddenly that Michael wasn't able to sell all that he received. You see Dick, innocent people do not have to continue to defend themselves as you are doing and my guess is that you are indeed Michael who is beginning to feel the heat from the various regulatory agencies investigating this $100 million dollar fraud.
He's right Sylvia there are a host of companies selling printed lightsheets, with Bosch being one. I guess schramm saying he had exclusive rights in the USA is just another big lie. Go to crugi.com and click on distributors and it will show you all the companies selling the same product as XLIT/Bosch. Maybe schramm can sue these other companies since they violated his exclusive rights contract.
XLIT (XLI Technologies, Inc.)
XLI Technologies, Inc. (Ticker: XLIT) holds the exclusive rights in the USA and Canada to distribute LightSheets (printed Light technology/nano printed Lights) to the entertainment and automotive industries. Lightsheets is a pure, clean, non-toxic, waterproof, shock proof, sealed light created with only Nanotechnology.[/
Just another pump and dump scam. Company likely operates out of a virtual office and on paper only. The SEC is inundated with complaints for scams like these. Sell now before it goes down to a penny.
From my understanding there was another larger group of people from California who also bought stock directly from schramm for .30/share with a 6 month lockup period. From reviewing XLIT's SEC filings it does not appear that schramm ever disclosed these private sales to the SEC as required. This group from California sent schramm much more than $5-10K with some investing in the $50K area. These are the people who are the most pissed off as many were supposed close friends of schramms.
He may be onto his next scam but this one is far from over. Due to work responsibilities I have been quite busy these past 6 months. Recently I phoned the SEC office in NYC and spoke to a case agent who was not very forthcoming with information. When I asked if the shareholders would be happy with the outcome of their's and the FBI's investigation all he said was the people who lost money will be very satisfied when the case comes to its resolution. The civil and criminal investigations are ongoing and schramm is far from the clear. I doubt anyone ever recoups their lost investments but the principles of this scam will pay with their freedom for the sins they committed.
"""XLI will soon launch a redesigned website that will feature new sections, including information regarding the Company's business model, management team, distribution network, and strategic partners. In addition, shareholders and potential investors will be able to find relevant and useful information in the new "Investors" section of the website."""
What a joke, management team, distribution network, and strategic partners.
Rawman and Doc this obviously was a scam from the very first day of XLI. One thing that has not been mentioned is that maybe schramm is just the chump who put this thing in his name. We give schramm credit for this scam but what if there are bigger fish behind this like organized crime. schramm may just be the stooge in this thing and unfortunately for him the stooge usually always takes the fall.
Yes, I bought 500 shares at .46. I'm losing little more than $200.
Wrong and wrong, Rawman was smart enough not to get involved in this scam and I am long. What we post is 100% the truth like it or not. I've given up on ever receiving back what I lost and am now dedicated to see schramm go to jail.
Yes I remember that guy's post. He quickly said it was a mistake and deleted it. Even Schramm was not stupid enough to allow someone to advertise the fact he was selling restricted stock from his own supply. The problem lies in that schramm neglected to inform the SEC of these private sales. I believe that is quite illegal in the USA. This poster states there were hundreds of people who bought restricted stock from schramm. Could very well be the reason he stopped filing with the SEC altogether since he knew he was already screwed.
It honestly appears this guy has really had business dealings with XLIT. Since he has been in contact with the transfer agent I suppose what he wrote is true. Does not surprise me that schramm refuses to pay anyone, it fits perfectly with his felonious personality.
Just received news from the transfer agent this scammer schramm hasn't paid any of his bills. No longer dealing with the transfer agent due to nonpayment. It's a scam. Been saying it forever.
This was posted recently by someone on the Yahoo board. He apparently has had business dealing with the scam artist james schramm. Pretty much confirms what I have previously written.
Listen, this is 100% a scam company. Schramm is the biggest scammer known to man. He sold his own private shares to 100's of people for $0.30c a share when it was $.80-.90c a share. He called it a favour in doing so. They were unrestricted but when received they were restricted for 6 months. On the 5th month the previous CEO and schramm sold all their shares and cashed out on everyone's money. 25,000,000 shares. Everyone lost everything. There has been so many complaints to the sec and another one this week. That's why he put this pr out. To try and fool people more. DO NOT BUY ANYTHING. cut your losses and that's it. He's and this fake company are a scam for sure. He owes $1000's in fees for work and commission we completed and he will not pay a dime. He's a scammer. He wants nothing in writing and he reverts to everything he's done as above the board and full legitimate. Someone who would say that is scamming. Believe us. ITS ALL A SCAM.
I guess an orange jumpsuit and prison bars are indeed in schramm's future.
Rawman, I am far from an expert in american law. I think schramm does have an idea or has already been contacted by investigators. I say this because all of a sudden he is trying to shift blame for his scam. Also the new PR all of a sudden indicates he is trying to right his horrible wrong. The problem is it is hard to make a company out of a pure scam. I'm sure there are others involved beside schramm being investigated. I only lost a little money in this but have communicated with people who lost $100K or more. These people want blood, I only want justice.
Many people in California who were basically a friend of a friend of Schramm bought the restricted stock. I personally know of 6 of these people who have filed SEC complaints stating that the restricted stock sales from schramm's personal stock were never reported to the SEC as required. All of this was quite illegal especially with the coordinated paid for pump job by traders choice. SEC investigations can take up to 2 years and if there is a referral to the FBI for criminal activity even longer. As I have said schramm is headed to prison, it's just a matter of time. The wheels of justice turn very slow in America, here in Russia he would have been jailed almost immediately.
burningbud this is a scam and I would never invest even 1 more ruble in this fake company. The only reason schramm is responding and posting pr is because he is receiving heat from over 30 SEC complaints filed against him. He is going to jail, it is just a matter of time.
Your buddy Jim sold his own personal stock directly to suckers, selling them beginning at .30 and then increasing the price. These shares were locked for 6 months so the suckers could not sell them as the price of XLIT collapsed. Most of these direct sales were never reported to the SEC btw. Traders Choice was paid well over a million dollars to pump XLIT, it says so in their disclaimer. Your buddy Jim or one of his intermediaries paid traders choice to pump the stock with total lies so your buddy Jim and his friends could sell their stock that they received for .005 a share making millions. Your buddy Jim produced totally inaccurate press releases to further pump the stock so that he could profit even more. All of this has already been transmitted to the SEC for their investigation of your buddy Jim and his scam company XLIT. I hope that adequately answers your question.
I agree rawman, but if schramm tried to sell millions of shares the stock price would sink to .0001 very quickly. Have no idea what his motivation is but he obviously cannot sell the shares.
Randy you see the difference between you and I is, you are a shill for schramm and I am someone who was burned by schramm's scam. You are schramm's plant on this site and your posts are not looked at seriously.
Really Randy your kidding, right? XLIT is a one man show and that man is schramm. He is the only employee and officer of the company. Kind of hard to have sales and contracts when you don't have any employees. This was a scam in the beginning and remains a scam today. Please save your BS for people on a different board.
We have a saying in Russia, someone must hit you in head with club before you wake up. There are no sales, schramm has done nothing. No financial reports in over a year. This is because there are no sales. This company is done, consider yourself hit in head with club now.
Tres amigos this company hasn't release any financial information in a year. No quarterly reports, nothing and they are in violation of SEC reporting rules. The reason why Rizzone hasn't released any results is because he wants to keep potential investors in the dark as per what's happening at the company. If he released quarterly reports showing (0) revenues it would confirm the fact that the company is done. I know for a fact that over 50 complaints have been sent to the SEC concerning XLIT and Schramm. His day is coming to face the realization of incarceration.
A company in business generates revenues, this company has never generated a thing other than $millions to Schramm selling his personal stock to suckers who would buy it. This schramm guy is a fraud and eventually will end up in prison.
Nice just Traders Choice's latest Pump and Dump. Stay away if you want to keep your money. Traders choice is a scam, just like this company.
Wake me up when it hits a dollar. Thanks.........
Here's Schramm's next press release. XLIT exploring listing the company on the NYSE, CEO see's huge upside with $30 price target. Schramm's exact quote " I know our stock is only a penny but the lightsheets are flying off the shelves and we see much better days ahead".
The stock is back to a penny, I believe this is cause for a celebration.
The statement today is further BS from schramm. Trying to deflect some of his responsibility for hard working people losing their nest eggs in this scam. What he's saying is " hey it wasn't my fault it was these other guys, I'm honest". Not going to work schramm misled his investors on purpose for financial gain and now he's going to pay the price.
Schramm is obviously feeling the heat from the SEC and now trying to blame these other 2 entities for the prior pump and dump. I know there have been numerous SEC complaints against schramm and also xlit. Rather pathetic of schramm blaming others for his own fraud, but not unexpected.
Here's a new story.
http://stocktwits.com/m82492/message/72968074
Up/down I must admit that you are the only poster here that I actually have consult my Russian/English translation program to understand certain of your words on occasion. All I have to say in response is that I hope most of what you wrote never happens. Also it will be impossible to clone me since I was assured by my mother that after I was born they broke the mold. The Saudi terrorists that took down the World Trade Center towers I feel accomplished an amazing feat. This is because they never flew a commercial jet before and were only train on single engine propeller planes, to have the ability to fly those jets was an amazing thing and most unexpected I'm sure. Having extensive experience dealing with Arabs in confrontational situations I can tell you that they are very low tech in most forms of warfare.