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That GeoTraq Patent is Worthless!! It never should have been granted in the first place from the US Patent Office. it's only purpose was to prop up the Assets of ARCI. Now this whole thing belongs to this SPRY company created by another Crony of the Jon Issac and his dad.
Have not been paying attention to the latest news on such things as our Geotraq issues. Certainly still looks like some Accounting components are keeping ARCI (aka JAN) afloat. Jon Issac has a few SEC Actions against him. Not seen what rock Gregg Sullivan may have crawled under.
Againstallodds, your thoughts and observations are needed to bring me up to date.
Alton Perkins Plead Guilty to Filing False Tax Return(s)
https://www.justice.gov/usao-ednc/pr/triangle-ceo-pleads-guilty-filing-false-tax-returns
He faces upto 3 years in Prison.
Televet...
You do know about FCC Regulations!! There are RULES.
What are your thoughts on an Unauthorized Cellular Chip, with an Antenna and a Batteries attached to a Bomb on an Commercial Aircraft?
There is a Shit Load of Fraud going down...
ARCI was Booking a $200K+ Equipment Inventory Asset for Geotraq. Gregg Sullivan only had maybe a few hundred of these modules produced (from my assessment) and I am not sure if Pierre Parent ended up possibly bought an allotment of the Sequans Monarch Chips as the leftover CTO/GM of Geotraq.
The MediaTek chips are now worthless, because even back in 2016/2017 I was explaining to Gregg Sullivan 2G and 3G Technologies are being End of Life and Phased Out.
A "Red Flag" on this SPYR Company is understanding who is running it. Anyone that knows how to do basic Background Research will see the "Cronyism" Connections.
So if a reasonable investor just looked at the Financials, a Top End Deal was $26 Million and now this same deal was just sold for $13.5 Million what does this tell an investor?
Hot Break-Thru Technology? Or a Dog-Shit Fraud?
It isn't just Polte, the last I had reviewed Geotraq ditched that MediaTek Chip in favor of an LTE/NB-iOT Chip from Sequans (Pierre Parent's doing). I had spoken a number of times with some of the key Polte R&D Folks in 2020. They mostly have worked for years in Military SONAR and RADAR. The 2 Engineers I was speaking with had over 30 Patents on SONAR/RADAR Location Techniques. Really cool stuff. Essentially they have adapted their techniques for Cellular. With O-RAN they are making moves to get things added into the key EnodeB and GnodeBs for 4G/5G as a lot of the newer Antenna Arrays "Massive MIMO" do Beam Forming towards individual Devices.
The key challenge for Polte is getting their "Client-Side" Code Ported and Tested on the various 4G/LTE/5G/iOT Radio Modem ICs. I actually have a few 5G Modems I am waiting on them to finish porting. I have a couple 5G Products using the Telit FN980(m). https://www.telit.com/devices/fn980-and-fn980m-data-cards-support-5g/
Geotraq in any form is still a "Day Late and a Dollar Short". I have still thought the Form Factor of that Module is not conducive to easy System Integration for Telecom Industry Products.
Also, in 5G a lot of really amazing Location-Based Services are becoming a Reality especially for "First Responders".
Well EXGeotraqEmp1, I hope you landed a better Telecom R&D Job. I still remember when all of you Peeps got Axed. I almost would have been right there with you all.
Oh did you ever read that Bogus Patent granted to Gregg Sullivan?
The Patent that was Granted to GeoTraq is worthless. As a 35+ Telecom R&D Veteran, I came across Gregg Sullivan the so called "inventor" of this module back in 2016. What a fraud. Gregg ripped of another company that was in the process of creating a Baggage Tag with the same 2G MediaTek Chip. That product also never got off the ground. And it appeared Gregg had initially had this other company called "GoTraq" and he up and Deregistered all the Common Shares. Then somehow re-emerged as "Geotraq" and sells out to ARCI. Essentially screwing all the early stage investors in this product.
This Patent is written so vague and it is also attempting to do an "end-run" on how Legacy 2G/3G Technology works. Which by the way is all but discontinued in the Telecom Celluar Industry. Gregg was fired by ARCI (essentially JanOne) for Cause back in late Dec 2019 early Jan 2020. Gregg is a total pathological liar and bullshit artist. I still don't fully understand how him and Jon Issac (LIVE) and his dad Tony Issac (ARCI) got hooked up. The whole deal was booked improperly on ARCI's Balance Sheet too IMHO. The Majority of the deal was valued at $26 Million and mostly was Preferred Shares of ARCI. This was all "Booked" as an Intellectual Property Asset. It essentially massively inflated ARCIs Balance Sheet. ARCI was writing off $1 Million a Quarter of this on their Balance Sheet. Funny thing though is all these Preferred Shares were divided up between Tony, Gregg, and one other guy, Juan Yunis (an Issac Crony). Juan had the largest share, which instantly if he converted these Preferred Shares to Common ARCI Stock made him the sole Controlling Owner of ARCI. ARCI clawed back 50% of Gregg's Preferred Shares and there was a Lawsuit between them. Not sure of the outcome, but I know it was a total mess. A number of Geotraq Employees also got shafted by Gregg. I assume he is under a rock somewhere.
With my Due Diligence on Geotraq back then all kinds of "Red Flags" were apparent. I had thought Pierre Parent the CTO also pretty much jumped ship after doing an "Overhaul" on attempting to redesign this module to use Sequans "Monarch" iOT Chip and then had partnered with Polte to use their Centralized Backend Location Service. Either way, none if it got off the ground.
Everyone around this whole thing is embroiled in Lawsuits and Civil Actions. Especially, Jon Issac via the SEC.
I will have to review these latest shenanigans.
Federal Court decided on Liability and Fraud against Alton Perkins in favor of the SEC.
https://www.pacermonitor.com/public/filings/DDGUWWFI/Securities_and_Exchange_Commission_v_Perkins_et_al__ncedce-19-00243__0091.0.pdf
SEC Revoked the shares of ATIN a subsidiary of ATMO.
Alton perkins has been a repeated Deliquent Filer. ATI Nationwide Holdings Stock was Officially Revoked by the SEC on October 29, 2021.
https://www.sec.gov/litigation/admin/2021/34-93446.pdf
I read the SEC Complaint.
https://www.sec.gov/litigation/complaints/2021/comp25155.pdf
I am not surprised at all on this. This actually sheds lot of light on a number of things. When this is over Jon Issac and that CFO will both be Barred for Life from running any Public Company. One thing is for sure and is a big RedFlag when I started watching ARCI waste fact ARCI had an "Incestuous" Board of Directors with LIVE. Especially, the CFO being in charge of dealing with both sets of "Books". Shady People all the way around.
On Geotraq, everything about that Cellular Module (g200) Gregg Sullivan touted was a pure fraud. I have come across a few pathological liars in my life and one thing Gregg did when we first were in contactv via phone and zoom, he became super defensive and downright abusive when he was asked very "simple" telecom questions. He liked to represent himself as this unwitting genius that discovered a lot of things all on his own and that he knew how things worked.
I found it interesting that as I explained some things on true telecom systems worked, a few calls later he is telling me the exact things I educated him on, yet he tried to make it like I was a dumb ass and he was this glorious genius.
Back in late 2019, I was glad to see that ARCI fired him. I'd filed my FCC Complaint against him and Geotraq in the fall of 2019 for Activating those Modules without FCC Approvals. I also had spoken with a CEO that got hoodwinked into taking some of those unauthorized devices onto an airplane and had them active on his flights.
In the telecom industry, he rightfully would have been fired for Negligence and rightfully so. I am still absorbing this "Settlement".
That IP valuation was insane and still is. As part of this settlement it looks like Gregg has to forfeit those ARCI "Preferred Shares".
That Patent is still a major sticking point with me being a 35+ Telecom R&D Professional. Even though it was Granted, it is worthless. It was garbage from the very start. I had some hopes Pierre Parent being a long time telecom professional would have turned this thing around. I know he jumped ship back in 2019. So I was totally glad, I didn't go down the road to use geotraq on a cool national project of mine.
I still am a bit sad too, because I know a number of the Geotraq employees were harmed in this whole shitshow.
As far as that IP valuation, I will look at their latest Financials. They were writing off about $1Million a quarter from the balance sheet in relation to Geotraq.
And Gregg misrepresented the Capital Structure of Geotraq when we began talking back in 2017. That hasalways concerned me. Once I investigated the ARCI "Deal". The main component of this is what CEO in their "Right Mind" would ever have structured this deal as was done.
One other individual in this is Juan Yunis and last I checked he still had like 75% of those Preferred Shares from this whole deal. These Shares basically gave away the farm so to speak.
Holy shit, so Gregg is ending up with about $2 million in payments. This is an insane world we live in... just read the settlement
Unreal...
Not kept up as much as I should. I was contacted over a year ago by a lawyer that was building a case against Gregg Sullivan concerning his actions that have harmed prior investors in Geotraq and I also was contacted by Jon Issac concerning my FCC Complaint against Geotraq for activating unauthorized devices. Jon and I spoke over the phone on a civil case going down against Gregg in Las Vegas. I will have to see where that case stands. As far as Geotraq goes, even Pierre Parent jumped ship.
If you have any links to any SEC Actions, share them.
My last analysis of of JanOne Financials, I had seen a note the "Recycling" was going to be sold off to the CFO and some Consortium he has put together.
On a Balance Sheet, they were in my opinion inflating the balance sheet with Geotraq. Not kept up on them moving into the Biotechnology Industry.
There have been numerous "Red Flags" the past several years concerning ARCI, Geotraq and now JanOne. I am just glad, I was smart enough not to move forward with Geotraq on one of my own projects in Telecom. Simple, Due Diligence always pays off. It cuts through the Hype and BS.
Major update against Alton Perkins. The SEC filed in Federal Court a Motion for Partial Summary Judgement. The Motion sets forth the key Material Findings of Stock Fraud and Use of Funds for Personal use.
Case ID is 5:19-CV-243 on Pacermonitor.com
Major update against Alton Perkins. The SEC filed in Federal Court a Motion for Partial Summary Judgement. The Motion sets forth the key Material Findings of Stock Fraud and Use of Funds for Personal use.
Case ID is 5:19-CV-243 on Pacermonitor.com
Alton Perkins was handed another Action by the SEC for being a Deliquent Filer.
ATIN SEC Suspension for severely delinquent Financials:
https://www.sec.gov/litigation/suspensions/2021/34-92741.pdf
Order:
https://www.sec.gov/litigation/suspensions/2021/34-92741-o.pdf
Admin. Proceeding:
https://www.sec.gov/litigation/admin/2021/34-92740.pdf
Nationwide Microfinance Limited of Ghana was declared Insolvent by the Bank of Ghana. (#122 on the below list)
https://www.google.com/amp/s/www.pulse.com.gh/news/business/bog-shuts-down-over-300-microfinance-companies/mde3egf.amp
Americatowne has failed in its Reporting Duties to inform the Public of this Material Event. As with the Nationwide having it's Banking License Revoked this also means the Nationwide Stock held as an Investment Asset on the Balance Sheet of Americatowne should be Written Off well over a year ago.
Nationwide Microfinance Limited of Ghana was declared Insolvent by the Bank of Ghana. (#122 on the below list)
https://www.google.com/amp/s/www.pulse.com.gh/news/business/bog-shuts-down-over-300-microfinance-companies/mde3egf.amp
Americatowne has failed in its Reporting Duties to inform the Public of this Material Event. As with the Nationwide having it's Banking License Revoked this also means the Stock held as an Investment Asset on the Balance Sheet should be Written Off well over a year ago.
The SEC is seeking more than just a small fine. According to the Complaint, they are also seeking to have Perkins "Barred for Life" from running any Public Companies as well as returning over $1 Million to shareholder.
Bb, so how about existing Stockholders, do they not now have a legal claim before the SEC Revokes this Stock for Failure to file?
Are you aware of the responsibility to File?
Are you aware of the current SEC Case?
Alton Perkins has so far failed to file 2019 Annual (ie 10-k) and now a full 3 Quarters of 10-Qs for 2020. (1st, 2nd, 3rd Quarters).
Alton Perkins is now late for 2020 3rd Quarter SEC Filings.
Alton Perkins now is late for 2nd qtr filings and he has failed to file both the Annual and 1st Qtr.
Anyone else wondering how all these seasoned Medical Professionals are being compensated?
Well the Biggest "Red Flag" for Geotraq now under Pierre Parent as GM/CTO running the Show is there still is no FCC Certifications on file. Not even any filings requesting any "Waivers"
Neither are there any Certifications from any of the main Cellular Service Providers such as Verizon or AT&T.
This goes for that original bogus design under Gregg Sullivan and this new design that is advertised as using Sequans Chips.
They are way more than a day late and a dollar short to have a working product in the market. At this point they are more than 3 years without a single sale and a positive feedback of a satisfied customer.
Oh and then there is that worthless Patent. I find it funny there now is hardly any mention of having this "Grand Solution" that only Gregg Sullivan was Genius enough to invent.
Maybe someone in Las Vegas should go see if they are still in that office.
One thing I noticed as part of the JAN/ARCI Balance Sheet they have a note on holding $200K worth of "Chips". I am wondering if this is Sequans Chips they may have bought or are they inflating the worthlessness of those Modules Sullivan kept trying to impress people like me with that actually never worked.
They are in a pickle for sure. No way any entity would buy Geotraq and then there is the small problem of the inflated Intangible Assets and those Preferred Shares.
Shareholder Lawsuit in the works.
I have good information on a possible future Lawsuit that is upcoming. Any prior Geotraq Employees or Shareholders can reach out to me and I can get you in contact with the Law Firm that more than likely will be filing the case. The Firm is interested in shareholders that were allegedly ripped off by Gregg Sullivan and then he up and cancelled the shares then sold out to ARCI.
Geotraq also has not filed any of the Necessary FCC Requirements. That is the biggest impediment to them even selling a single module.
From experience, this process takes about 90 days and they have had Pierre Parent now as the GM for over a year. This is a major Red Flag. This has now been going on for 3 years as to not have completed the necessary Compliance Testing and Carrier Approvals. Till this is complete, there will be No Sales.
Only thing I have seen Geotraq do with Twitter or Facebook is they seem to just be promoting these possible use cases.
Back in the fall, I had a few of my engineers inquire on getting details and after a few technical question emails were exchanged they never responded.
From looking at the numbers, they are still buring thru about $100K a month and that is on top of the ~$1 Million Writeoff they are doing each quarter on the Intangible Assets related to Geotraq.
US District Court Judge Granted SEC's "Motion to Strike" Alton Perkin's "Cross-Claims" on March 30, 2020.
https://www.pacermonitor.com/public/case/28612761/Securities_and_Exchange_Commission_v_Perkins_et_al
US District Court Judge Granted SEC's "Motion to Strike" Alton Perkin's "Cross-Claims" on March 30, 2020.
https://www.pacermonitor.com/public/case/28612761/Securities_and_Exchange_Commission_v_Perkins_et_al
And let's not forget about those Inflated Intangible Assets too. They should at least have written off that bogus Patent.
That is correct on those Chips from Sequans being old.
As well not a single filing yet via the FCC for Geotraq being authorized to use them in a design.
The market for IoT Modules as well as Asset Trackers is very crowded. Why buy a product from Geotraq when you can get a complete solution now from major cellular providers like Verizon for less than $7.00.
JAN/ARCI since I have been following it from 2017 has had similar patterns. I briefly bought into the Stock as I am more into Technology Investments but then I realized after doing some DD things were not to my liking.
The old saying about "Buying on the Hype and Selling on the News" rings true.
A good chunk of this stock is held by Insiders as well there is a real shady Preferred Stock Conversion hanging in the background in which the Issacs along with a Crony of theirs will be a "Pill that is hard to Swallow" on outside investors. These PRs are an attempt to walk up the price. They failed at the same strategy when doing this via their Geotraq entity.
They'd announce something, retail investors would jump and then when the reality of the matter got closer Attention the stock would fall right back to were it was before it even lower. Go back and look at the spikes over the last 3 years and look at the 8Ks during the same time. It went under the NASDAQ Price Threshold half a dozen times and they had to finally do a Reverse Split to buy them time. Now this while changing to a BioTech is also now suspect IMHO.
Buyer Beware...
this picking a Mfg is odd at this stage in the game. no details of what this would mean as far as how much this is going to cost. This company is a "Contract MFG". This move would be more inline at a later time. The Stage 2 Trials is for the most part is on formulating the drug and then having that go thru a wider human sample set than what was done in Stage 1. you are trying to figure out what dosage levels work and then kind of pick the "Sweet Spot". Its all about the uptake of the drug in the humans and then uping the dosages or lowering them. And from all research I have done so far, this ends up being by far the most costly of the stages of any drug research.
I've been trying to understand a little more on how various drug related companies go thru these Trials and Processes.
So far it is a little strange that all these people coming on board are all from the one company that has been doing the initial research. And what this kind of smells like is they are using JAN as a means to raise money via the Stock Market where they could not do this via their existing entity without going thru all the basic requirements to sell stock to the public. Finance People tend to call this a "Poorman's IPO".
ARCI is then Pumping up the Stock on all these PR Moves.
Then there is GEOTRAQ hanging onto JAN/ARIC like a Dead Weight burning thru their Working Capital with NO Sales.
When are they going to announce that it is time to "Cut Bait" on Geotraq?
I wouldn't be surprised if JanOne dumps GEOTRAQ in 2020.
I too am interested in seeing the upcoming 10-K. With Geotraq Bleeding Money with no sales for going on 3 years, sooner or later it will be time to "Cut Bait".
There comes a time, when reality sets in and if you have two Bleeders, you have to make a choice and its clear ARCI is putting its "Eggs" on shifting to BioTech.
They are Rolling the Dice, but it is clear that BioTech seems to be an easier route for Hyping the Stock Price. "Buy on the Hype - Sell on the News"...
Alton's Motion to Dismiss the SEC Case against him were Denied in Federal Court Jan. 2, 2020.
https://www.pacermonitor.com/public/case/28612761/Securities_and_Exchange_Commission_v_Perkins_et_al
Alton's Motion to Dismiss the SEC Case against him were Denied in Federal Court Jan. 2, 2020.
https://www.pacermonitor.com/public/case/28612761/Securities_and_Exchange_Commission_v_Perkins_et_al