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So, Apptech issues a press release about a new service that they offer but there is zero movement in the stock.
(Yawn.) And of course there is no information as to what impact the new service will have on sales. This is a worthless, BS announcement. Way to go Apptech. Current management is woefully incompetent.
For anyone who still reads this message board: I checked with several knowledgeable and experienced sources and the chances of Apptech ever being able to get the DTC chill lifted is slim and none. It is quite probable that Chapter 7 is not far away. Apptech has no money, is in a mire of debt and is involved in a protracted lawsuit. It's an impossible situation.
Oh and one more thing, Apptech never communicates with shareholders.
I would love to think that there is some hope for Apptech. But the reality is that Apptech's situation is hopeless. And as you say, even the shell has zero value.
Apptech has nothing left, no cash, no assets, no patents, nothing.
Oh, it does have extreme debt, a lawsuit by a major shareholder and a write off in excess of half a million dollars. But it'still "time will tell". Time has already spoken; Luke D'Angelo continues to fail, again and again.
The latest financials are out. They get uglier each quarter. And now Apptech shows a "loss on patent acquisition" of $561,000. Seems like the patents that were the basis for so much of Apptech's future are gone. And Mr. Hamzeh continues to pursue his lawsuit. There is never any good news when it comes to Apptech.
Forceone1, you never address the question of telling us about anything Apptech has done that it has said it was going to do, NOT ONE. Looking at the financials since new management took over, the financials only get disgustingly worse, the share price got much worse, the global lock is still in place, communications with shareholders is non existent, on and on. New management has had more than three years to improve something, anything, but the end result is ZERO, NOTHING, NADA, ZILCH. How is it possible that more than three years after taking over the reins of the company NOTHING has improved. Yes there are negative people and big mouths but please tell us about ANYTHING that we should be positive about?
I'm afraid you're right Benosufan. Apptech has been doomed for a long time. Time for management to start writing Apptech's epitaph. Too many unrealized promises, zero accomplishments.
Forceone1: I am sorry to say but you have no imagination. The phrase you use repeatedly, "time will tell", can be applied to nearly every situation in the planet. Will Trump win the election, will cancer be cured, will the price of oil go up? Forceone1's answer: "time will tell". And you're right, time will certainly tell. But can't you be a little more imaginative and a little less boring?
Seems like nearly every response or comment uses the phrase "time will tell". Which goes to show that Apptech doesn't know anything definitive about the company or its future. Everything is just guess work. One more thing, Apptech WILL use the lawsuit as an excuse for not dealing with the DTC lock.
Slander and libel are part of Apptech's corporate philosophy. There is very little truth in anything they say and we all know that their very few press releases are pure fiction.
Details on the Mehrak Hamzek lawsuit can be obtained by accessing San Diego County court records. No question about it, Hamzeh was screwed by a deceitful and lying Luke D'Angelo. But what's new, D'Angelo and the companies he's associated with are the object of numerous lawsuits, judgements and court actions. The guy doesn't know how to tell the truth.
Still no response on what happened to Flowpay and Globaltel Media.
When I looked up information on Globaltel Media it's like there's nothing there. Looks like the company was founded by a guy named Robert Sanchez who is also shown as an Apptech advisor in previous information releases. Sanchez is also shown as the owner of the patents that Apptech also refers to in information releases. WTF?
If you research Sanchez' name, he's got about a dozen law suits and judgements filed against him and Globaltel Media. Hey Apptech likes to deal with the "cream of the crop" of the business world.
So one more time Apptech's "story" is full of holes and lies. What a reflection on management.
Got two "what happened" questions for anyone that can provide answers. These are questions from previous announcements by Apptech.
What happened to "definitive agreements" to acquire Flowpay Corp and Globaltel Media"?
What happened to the patents?
There are other "what happened" questions but Apptech enjoys and continues to keep shareholders in the dark. Does Apptech management know the meaning of the word "disclosure"?
Wow! I am in disbelief as to the crap I read coming from Forceone1 and Loyal Apache. Forceone1 is quoting the bible. Sin? Please God save me from adults who believe in fairy tales. Shareholders don't want to hear bible quotes, we want to hear about the status of the DTC Lock, status of the registration statement, status of the financial statements, status of the next shareholders' meeting. As stated in a previous post, Apptech cannot name one thing that they promised that they delivered on. Not a one. They're batting zero. Oh and by the way, how long will Forceone1 keep on using the phrase "time will tell"?
As for Loyal Apache, does one trade (1,000) shares in the course of one year (or more) constitute trading? How naive can one be? What good does it do to have four new directors if there's nothing to direct? One more time, we want to hear about the status of the DTC Lock, status of the registration statement, status of the financial statements, status of the next shareholders' meeting.
You're starting to sound like Jim Jones. Have a glass of Kool-Aid oh ye of little faith.
"Time will tell", every dreamer's favorite phrase. Long on dreams, short on reality.
Well Forceone1, "Time will tell" is your favorite phrase, you use it all the time. It's become Apptech's slogan and seems to be the company's corporate philosophy. It's a hell of a way to run a company.
I wanted to confirm some information regarding Apptech's DTC chill. The DTC "chill" was imposed on Jan 7, 2011, long before the merger agreement of May 2013. Current management must have been well aware of the DTC chill and if they weren't they're incompetent. So here's the choice, they (management) are either lying (again) when they say they didn't know, or they're incompetent. The DTC chill became a "global lock" on April 14,2014, nearly one year after the merger.
These are the facts folks.
Force1: You keep blaming previous management but Apptech's current management KNEW about a DTC chill before the merger. And yes Eric Ottens was bad news but current management has been a disaster. Three years and not even close to a solution. Shameful. But aside from the DTC issue, Apptech's management does not fulfill or complete ANY of the items it says it's going to do. Do you want me to list all the items on Apptech's announced "to do" list? Truly embarrassing.
Excellent post... you have a lot of experience dealing with Apptech.
That said, after more than three years of claiming they were going to lift the DTC lock, the new management has accomplished NOTHING. In fact they've gone backwards. A lot of hot air.
OMG, just looked up information on Luke D'Angelo. How did this guy become CEO? It's scary.
Three years to clean up a "mess"? Please define "finally cleans it up once and for all"? Is that three weeks or three years?
Here's an excerpt from a press release dated May 14, 2014:
"Although current management was not involved in these transactions and unaware of such sanctions by DTC at the time of its merger with Transcendent One in May 2013, the company and its counsel have been in direct communication with DTC to address this issue in conjunction with the preparation of its current financial audits and upcoming registration filing with the SEC."
So far no financials for 2015 or first quarter of 2016. And what about the registration filing with the SEC? Current management did not create problems created by previous management but they are entirely responsible for significant credibility issues. In business credibility once lost is very difficult to restore.
Apptech lawyers have been working on the DTC issue for three years and no resolution? Can't be that good.
The major problem for Apptech is the lawsuit will probably delay
lifting the DTC chill and filing a registration statement.
I looked at the lawsuit and it's very disturbing news. Although the courts will decide the outcome it does indicate that Apptech will once again have to delay the Registration statement.
Is there anything happening with APCX? Was there anything new revealed in the conference call?