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Pretty sure you must be related to Westbrook or got dropped on the head as a child.......
Why would anyone have FAITH in this company?
We did it guys....we are up 13600% woo hoo we are ........still fucked
SoOum, Corp. (SOUM)
0.0137 ? 0.0136 (13600.00%)
Volume: 4,624 @ 12:15:28 PM EST ET
I know when, NEVER. Do you know why? They have been saying the same thing for the last 3 years. Without scamming investors they would have been insolvent years ago. Every company they start to do business with either figures out they made a mistake and bails out or makes the stupidest decision ever and sells to SOUM management for shares in SOUM........... You are wasting your time.
Who is the world is going to buy a company that isn't profitable, has no tangible product to offer? What do you expect them to buy....the debt? What would be their return on investment. You are delusional if you think there is any prospect of this company being bought.
Oh hey guys we may get back to 1 cent eventually Woohoo! Only a 400% loss after the R/S and previous losses! Looking good!
Their entire MO for years has been to sell shares until they can't or they are worthless, R/S increasing shares and then start again. This is the 3rd cycle......not exactly far fetched they would do it again.......
Look at this winner go!!!!!
I currently hold over 8 million shares I bought last year.......they are essentially worthless now. Why the hell would I ever want more? But hey why listen to someone that actually invested before this was a blatant and obvious scam?
There isn't another option. Write it off and lesson learned. Hilarious Westcrook tried to cash in on this and we have already plummeted back to almost the pre R/S value. The current PPS based on pre-R/S values is .0000032........How many more zeros in front of the value is needed for people to realize this is a POS scam.
Well it's good for the prospects of Westbrooks vacations and personal finances. Anyone buying shares right now is just blindly flushing money at this point.
Oh it's always positive when someone dumps 150 million shares of anything at the bottom of the bottom. Super positive, just watch guys....this freight train is going to be chugging out of control. we'll be pushing a penny this time next week.
Cool, I'll stop by and check it out when I'm done with your wife.
Where is that run genius?
Cool story bro......where are the facts?
"The real value in this company is the run that it will have do you hear me the run that it will have is worth more than the company "
Seems you are missing the definition of value.
Let me help:
val·ue
'valyo?o/Submit
noun
1.
the regard that something is held to deserve; the importance, worth, or usefulness of something.
"your support is of great value"
synonyms: worth, usefulness, advantage, benefit, gain, profit, good, help, merit, helpfulness, avail; More
That isn't value, it's speculative worth. It is hedging bets. Like I said, what is there for anyone to hedge their bets on with SOUM? What story could they possibly sell at this point that anyone would believe? They lost everything of value, they have no revenue, they have no prospective business. The CEO is renting his house out on AirBnB to try and stay afloat........so how do you propose that is going to change when the company has no money or resources?
This shit wont run because the company is essentially insolvent and is more likely to collapse and file for bankruptcy than increase in value. The only thing of value they had (Western Grade) they no longer hold. They have millions in dept with no revenue. Explain to me how that is magically going to change?
Their entire prospect was that Western Grade would gain government contracts and benefit from Sooum connecting them with other markets. None of that panned out and now they are generating no revenue.
Trader 53 is a jackass.
It is pretty hilarious that these scam accounts pushing for SOUM are simply trying to drown out all the investors that rode the crash down. Take fair warning from those of us left holding the bag.
Dont worry, they have another 14,500,000,000 shares left to dump.
ALL YOU NEED TO KNOW: Notes from the latest SEC filings:
They are increasing the number of shares by 400%.......
"Increase in Authorized Shares
On February 6, 2017, the shareholders approved an amendment to the Company’s articles of Incorporation to increase the number of authorized common stock to
20,000,000,000 shares from 5,000,000,000 shares. "
They have multiple judgements against the company for outstanding debt (on top of the mountain of debt they currently have)
"NOTE J – Commitments and Contingencies
Various creditors have brought legal proceedings for collections of their claims against the Company. Judgments payable at June 30, 2017 and December 31, 2016
are $1,147,203.
"
They are running at a loss:
"Three Months Ended June 30, 2017 Compared With Three Months Ended June 30, 2016
Net revenues for the three months ended June 30, 2017 and 2016 was $-0- and $427, respectively. Cost of goods sold were $-0- and $312 for the three months
ended June 30, 2017 and 2016, respectively. Net loss for the three months ended June 30 2017 was ($25,398) compared to net loss of ($80,140) for the three
months ended June 30, 2016."
The company they just merged with a year ago broke off from SoOum
"Spin-Off
On July 28, 2017, the Company signed a Separation Agreement (the “Agreement”) with Ms. Joy Gillespie pursuant to which Ms. Gillespie exchanged her
445,000,000 shares of common stock of SoOum Corp. for 100% of the ownership interests of Western Grade, LLC (“WG”), which were owned by SoOum Corp.
In effect, this transaction reverses the prior acquisition of Western Grade by SoOum Corp., which occurred on October 06, 2016. The Separation Agreement
entered between the parties contains other terms common to a transaction of this nature. Accordingly, the Company's financial statements will not include the
operations of WG from effective date of January 1, 2017, and the related transaction was accounted for as a spin-off of WG as of the effective date. Based on the
consideration received (shares of common stock) and the net assets surrendered, the Company recorded a loss on spinoff of approximately $2,600,000, which has
been included in loss on discontinued operations in the accompanying statement of operations for the period ended June 30, 2017.
Due to the Agreement, the Company will no longer report WG as the Company's "Predecessor" and all historical financial information of the Company will be that
of SoOum Corporation. WG was only consolidated with SoOum Corporation's financial statements for the period from October 6, 2017 (date of acquisition)
through December 31, 2016. The Proforma financial information included below discloses the effects as if the acquisition of WG was not included in the
consolidated balance sheet at December 31, 2016 included herein."
Woot Woot! Lets buy daddy Westcrook a fancy new getaway!
Contracts Confirmed!
Not!
This says it all from the 8-K:
"Going Concern
The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates the realization of assets and the liquidation of liabilities in the normal course of business. We incurred a net loss of and used cash in operations for the three months ended December 31, 2016 and had an accumulated deficit of approximately $ 21,000,000 as of December 31, 2016. We have managed our liquidity during the first, second and third quarters of 2016 through revenues and issuance of notes. These factors raise substantial doubt about the Company's ability to continue as a going concern. The consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty."
Craziest part is a few months back a few good PR posts and communication could have saved the stock from utterly tanking. Instead they went radio silent, filed for the reverse split and share increase and then watched this baby burn to the ground. Complete and utter incompetency.
Aaaaannnnnnnddddd It's Dead. 0 volume for 3 days in a row now. Congrats Mr. Westbrook!
Their next steps are to host a B&B on the ranch and forget that Sooum exists. They squeezed it for all it's worth and now they are on to greener pastures and we are left holding the bag. Hopefully FINRA shit this scam down before they got anyone else's money.
Westbrook is now selling getaways to his ranch for the "Cowboy Experience". $150.00 a night....he must be desperate from not selling meat, he has to turn the place in to a BNB.
https://t.co/oBlrDybJCn
SOUM wasn't even SOUM before, they had to change their name after all the bad PR from their last Reverse Split. They used to be Swordfish financial, it is a terrible company and you should stop spreading mis-information.
The Previous R/S: http://www.marketwired.com/press-release/swordfish-financial-inc-announces-name-change-sooum-corp-accompanied-reverse-stock-split-otc-pink-swrf-2060297.htm
The Previous R/S: http://www.marketwired.com/press-release/swordfish-financial-inc-announces-name-change-sooum-corp-accompanied-reverse-stock-split-otc-pink-swrf-2060297.htm
The previous R/S was a last ditch measure because they had no liquid funds.......rinse and repeat indeed.
This is an interesting purgatory....... No R/S, No PR, No Updates ......
No P.R. , even their twitter shills have stopped talking about SOUM...... looks like SOUM is done for.
SOUM Gameplan. R/S and increase A/S by 300%. Once the R/S hits announce some positive news to keep the share value from plummeting. Then start the dilution train again driving the pps down to the sewer. They are hoping for a whole new set of investors to sucker in to this. Since I currently am still sitting on 5 million essentially worthless shares I should hope they succeed but instead I hope they go down in a ball of flames.
HOW DO WE UPDATE THE HEADER TO - REVERSE STOCK SPLIT SCHEDULED FOR 3/23
Lot of buyers and no one willing to sell
I'll be the first to admit you were 100% correct. They just fucked all of us investors.
Unless they are blatantly committing fraud at this point by having the TA lie about OS.......then the fear of dilution has been overblown.
Where do you think the $$ for that stock buy back would come from. Their financials don't seem to show the money to buy back stock at any significant capacity. Pipe dreams.
I can't imagine how they think any of this is in their or the companies best interest. They should have loaded on the news and started diluting at a way higher pps. Why start diluting so much at such a low pps?
So good you didn't feel like sharing?
You are talking to a wall, if he isn't making a fortune now it's the companies fault! It's Phillip's fault! It's Sooum U.S. PR's fault! It's stupid retail manipulation! Flippers I say! SMH