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Let's blame the "shorts!"
Real talk.
There was no Bitkam connection. Traders were just making shapes out of clouds to try and pump this.
And, as you know and previously mentioned, the CEO's appointed to this ticker never have anything to actually do with the ticker.
It's already ugly for those with higher averages. A mere 500k sell craters this back to original levels, despite all the best efforts to pump and weakly prop bid.
This thing dropped from a .01 to .002's last week in like a day, or whenever that silly pump happened.
Correct.
Like I've stated multiple times, this is one of those companies that went public specifically to bankroll their insolvent business with shareholder money. They didn't do it to expand or achieve profitability. They knew they'd never be profitable. The only reason they operate at all is by undercutting the competition, which leaves them constantly operating at a loss.
They don't care about that loss because bilking shareholders is how they make up the difference and pay themselves a salary.
THAT is the business.
There are several tickers that operate like this, and every time they reverse split and the share structure looks attractive, it's the same song and dance. "They have real revenue! That's more than 99% of these scams!"
It's fool's gold.
Yes, they ballooned the O/S to 500 million.
They balloon it to as much as they can balloon it to before liquidity runs out. If they could have dumped the O/S to a gaudy multi-billion share number, they would have.
Instead, they fallback on reverse splits that have allowed them to pull a lot of cash out of this ticker by always aiming for an appreciable VWAP.
And that loops back around to...
Paying bad debt with bad debt for later where they hope to dilute at a better price so they can pull decent cash out of the ticker until liquidity runs out and the O/S once again hits the 500 million level.
And then reverse split.
Wash. Rinse. Repeat.
They haven't because they can't.
They've sold, what, 150 million shares so far? That's literally already quartered shareholder equity in the company while nearly cratering this to trips with next to no liquidity. They realize their past antics and their lack of current "good pumping fundamentals" is not going to allow this thing to absorb 100's of millions of shares.
Hence, why they paid off bad debt with bad debt for later. They can't sell a billion shares right now, but they certainly will, eventually.
Because they are insolvent.
Because they are in debt.
Because the A/S is 5 billion for a reason.
Because that's what they do.
And once they've ballooned the O/S considerably over the next year, and enough time has elapsed since their last reverse split, they'll reverse split again... for a, what is it, fourth time?
But going through the rigmarole to get QB status was productive, only to lose QB status because the huge A/S foreshadowed the truth here, as it did so many times in the past?
And that's the red herring. They love their gesticulations that provide a good pump, yet what's the one thing they don't do? They DON'T reduce their A/S. Hm, I wonder why? Reducing the A/S would have begotten much more confidence than the silly tier upgrade they almost instantly lost, but, again, that's the one thing they won't do. Hmmmm!
If the company was actually serious about avoiding toxic debt, they would have, on good faith, dropped that A/S to 500 million post split.
Everyone knows why they never do, and didn't.
And if "investors" have the sentiment that it's pointless because they can or will just increase it later, why invest in a company where one would have any inclination that the company would increase their A/S into the billions?
They acted like they were turning over a new leaf like so many pinkies do, but the A/S remaining the same post split lets everyone know that they aren't even trying very hard to pretend that's true.
Nope, it never ends well.
Pinkies like ABCO have a history of this exact thing. They swallow up other insolvent companies to bolster their revenue figures, but it keeps them operating in the red.
In fact, a lot of the "acquisitions" like this cost the company very little to pull off because they tend to be acquisitions of failing companies that are intending on closing their doors and walking away from the business.
Unlike ABCO, they don't have a publicly traded ticker to bilk money out of to stay afloat. ABCO "acquires" them under the promise of now being able to at least keep the lights on, but net losses add up faster, deficits spiral out of control, and the acquisition fundamental du jour ends up actually bleeding the company to death faster.
AbCO has literally been at it for 8 years. EIGHT. They've had 100+ press releases, most of them desperate hot air pump attempts. They've suffered multiple reverse splits. They've secured and lost QB status multiple times. After all this floundering, they've STILL failed as a business, yet paid themselves handsomely.
Literally, the bedrock of their business for nearly a decade is the sale of shares. Without it, they aren't operational.
Not really.
If note holders want their money, the only recourse will be a reverse split. This ticker can't support the sort of dilution that's needed to pay the debts.
The eventuality of a reverse split, whether under Berman or someone else that takes over the ticker, is already guaranteed at some point in the future.
It won't be announced, it will just be filed. Once filed, the few that see it early will scramble for the door and dump it to no bid. Anyone stuck will be forced to endure the reverse split and subsequent cratering of price post split.
The time to be long gone was long ago. Anyone still holding shares here is already in pre reverse split purgatory.
Yep. Keep saying; dilution-never-stops-with-ABCO.
They've been playing the same bait and switch game for years.
And, like I've also been saying, you don't leave your A/S at 5 billion and GAG your T/A post split because, you know, your intention isn't to dilute.
HENCE, the history of multiple reverse splits here.
Same ole ABCO.
O/S has quadrupled, already reducing "investor" equity post split to a fraction of what it was.
Nope, sorry. No actual connection.
From my sticky post.
Of course. Empty shell is used comically.
What's UAMM closer to;
Being an empty shell because of how much nothing has and currently exists here...
or
Being under (non-existent and ridiculous) "short attack." BIG HUGE (non-existent ridiculous) fundamentals (being formulated out of thin air). MONSTER moves to .15 or beyond (being charted on absolutely nothing).
And that's the irony that is so comical. There's a desire to correct the former (the tongue in cheek labeling of it as an empty shell), but no desire to correct the wildly more egregious ballyhooing that's been going on.
Things that make you go hmmmm!
Can't get over "send me your gift cards."
That to me was one of the most asinine, head shaking things that has happened here.
The officer of a publicly traded company... literally asking shareholders to mail him free money.
False.
Absolutely nothing has connected bitkam to this shell besides the phony pump job currently going on here.
Not "no" notes. A couple were put off.
Until the next financials, no one will know what issuance is going on.
Until March when OTC Markets updates the O/S, no one will be able to track dilution with a gagged T/A.
This isn't ABCO's first rodeo. This has played out like this multiple times. Hence, the multiple reverse splits.
False.
As mentioned in my stickied post, paying half the purchase price outlined in a LOI does not give one controlling interest. Controlling interest is what happens when you buy 51% of a company stock. In a LOI, a 51% controlling interest can be outlined for a dollar amount that must be paid. Here, the LOI is for 100% ownership for a specified dollar amount. Until the dollar amount is paid in full, there is zero ownership. In fact, LOI's are not legally binding, so even IF the agreed upon dollar amount is paid in full, the agreement can collapse if either party renegs.
Point is...
-Berman OWNS 0% of Cogosense until the likely defunct LOI is paid in full and final negotiations close the deal.
-There's no way of knowing if he's actually sent them money or just earmarked it in financials.
-Cogosense patents are outdated and useless.
-The LOI has been going on for 2.5 years, which is absurd.
-Berman owns 0 common shares, and would privately hold the DOA Cogosense. It in no way benefits common shareholders of the ONCI shell.
Careful: UAMM undergoing pump and dump.
-Ticker is currently dark and defunct.
-Ticker has had multiple CEO's over the last several years, all with different connections, yet absolutely nothing has ever materialized from those connections.
-Shell owners plug in various people into the CEO position as a placeholder, but none have ever had anything to do with the shell and eventually step aside for the next placeholder.
-Any connections between the current CEO and shell are being made by traders and are completely unsubstantiated.
-Shell owners and their various ideas have a long history of no delivery.
-Shell has been pumped a few times in the past using these empty ideas as grandiose fundamentals.
-There's no indication the company will be bringing the shell current.
-Even if the shell owners claimed they were going to bring the shell current, which they did 10 months ago but never did, you can't trust them at their word.
-Promises of news has often resulted in no news, or news that is empty lip service, as history clearly shows.
This has been and still is an empty shell with no actual fundamentals. Gamble accordingly.
False.
As mentioned in my stickied post, paying half the purchase price outlined in a LOI does not give one controlling interest. Controlling interest is what happens when you buy 51% of a company stock. In a LOI, a 51% controlling interest can be outlined for a dollar amount that must be paid. Here, the LOI is for 100% ownership for a specified dollar amount. Until the dollar amount is paid in full, there is zero ownership. In fact, LOI's are not legally binding, so even IF the agreed upon dollar amount is paid in full, the agreement can collapse if either party renegs.
Point is...
-Berman OWNS 0% of Cogosense until the likely defunct LOI is paid in full and final negotiations close the deal.
-There's no way of knowing if he's actually sent them money or just earmarked it in financials.
-Cogosense patents are outdated and useless.
-The LOI has been going on for 2.5 years, which is absurd.
-Berman owns 0 common shares, and would privately hold the DOA Cogosense. It in no way benefits common shareholders of the ONCI shell.
Discussion was based on the following...
300k? What, for the entire two weeks?
When the stock reached its absolute peak and hung at or above .02, it only did about 60K in dollar volume during those two days.
It then did about the same dollar volume over the next two trading sessions while being dumped down to a penny.
Having 60K in trading volume at or over .02, along with around 300K total trading volume for a two week period... is not a lot of dollar volume. We're talking 20K-25K a day. Having sustained daily liquidity of 100K can maybe be described as a "good start."
So, like I said, if they tried to uncork even a couple million shares while the stock was trying to climb to .02, it would have absolutely crashed the rally.
And, also like I said, most pinkies will take whatever they can get, and I recognize that, but seeing the trajectory that some of the "sister" stocks have taken makes me think they aim for a more sustained payout. Better than the alternative, I supposed.
Yeah, but it wasn't on a lot of dollar volume.
And very little dollar volume actually traded above .02.
Uncorking even a few million shares back then while it was being worked up over a penny, much like it recently did, would have sent it crashing.
Don't get me wrong, most pinkies will take whatever they can get, and I recognize that, but seeing the trajectory that some of the "sister" stocks have taken makes me think they aim for a more sustained payout. Better than the alternative, I supposed.
I don't think anyone is fooled.
I think there's bid sitting to average down. I think there's desperate hope for a pump that at least recoups some losses.
Those are the only things motivating any discussion about this company or ticker being legitimate, but no one is actually fooled into believing it is.
The stock has sat .0003 or less for 4 months now. It's possible it goes .0001 x .0002 on Monday.
No one is fooled. The price reflects that.
I kept it earmarked because they stayed current.
That was at least something.
But when they couldn't accomplish the name change due to not being able to provide FINRA documentation for past financials, and now saying they had a subscription issue with OTC Markets they were going to rectify, but didn't... yeah.
Both those things show a true lack of any real effort or business sense. Mix that with the tinge of dishonesty, it's a bad look. Makes one wonder what the actual motivation has been.
From the history of what's happened here, along with the latest communication I had with them, I've leaned toward "too inept to get the liquidity to dilute" rather than "they've chosen not to dilute."
Yep. That's keeping it real.
Can't even say the company is inept. There's... not even a company. Just some guys who float ideas. That's it.
He's never communicated once.
In fact, none of the placeholder CEO's have ever communicated with shareholders.
They are, after all, just plugged into the role so the shell owners can have a name next to CEO.
And this is fourth "new direction" in as many years. We all know it's nonsense.
Oh boy.
"A short of 80 million."
Can anyone show me the FINRA data where someone(s) is holding an 80 million short interest position?
I mean, 80 million, eh? With pinkie penny stock margin rules, eh?
Hilarious.
Lol. "Ripe." More like rotten.
-The market has passed on the product since its inception.
-The market has passed on the product for the last 3 years of Steve Berman shenanigans.
-By Steve Berman's own admission, it's the very fact that there is no domestic interest in the product that he is now trying to pitch it internationally.
Steve Berman will, sooner rather than later, ride off into the sunset with his million+ bucks he has made from the only thing he has actually sold; shares.
"otc markets the governing body of pink sheets"
LOLOL. Oh my sweet goodness.
OTC Markets is NOT a governing body of ANYTHING.
Exactly. Totally nailed it. What absolute rubbish nonsense.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=153600823
Right?
In one statement he torpedoed his own ridiculous-revenue-claims.
"Look at all these sales we have! But, we're switching business models because we need a new way of doing things that gets us sales!"
I love this.
"No one in the US is interested in our product, and being that it's far easier to dangle carrots using nebulous, nameless foreign entities, I'm totally going to be tweeting about this stuff now to keep this charade going."
Oh, and...
"Close to making deals with them."
LOL! Oh, my. Is this guy for real? How many times has he talked about "being close" to a deal. It's beyond a bad joke at this point. I mean, look at all the other arms / legs / fundamentals / whatever you want to call them that he ballyhooed about for months on end in old shareholder letters. Not a PEEP about any of it. It's all just absolute, 100% fiction.
Did anyone actually send this man their unused gift cards? Because, if so, LOL.
LOL. I absolutely nailed it.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=153597816
And... did... did Berman really say "total game changer" again!?
LOLOLOL.
This guy needs a distracted driving device that helps him operate an automobile while wearing his giant honking clown wig and shoes.
It's also incredibly telling that he waited until market close Friday to release this enormous nothing burger knowing full well it'd crush the .0002 bid.
There are a thousand tickers.
There are literally a thousand legitimate tickers where you can call the transfer agent at any given point and get updated share structure numbers. But talking about other tickers on this board is outside the TOS.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=34432803
That's the whole point; without being able to contact the T/A and get updated share information, you can't SHOW active dilution. You are at the mercy of waiting a month to see if the O/S has grown, assuming the share structure at least updates monthly on OTC Markets, or you are at the mercy of waiting until the next financial report to see what share issuance has occurred.
And THIS is why the company has chosen to gag the T/A. They are HIDING dilution, all while having corresponded with certain shareholders and telling them there is no dilution. Then, when the O/S triples, they give a shrug and a whoopsie and say, "Oh, yeah, well, there was like, some old debt that must have cleared out. But like, we now paid notes with notes to put some dilution off for later because our stock price and liquidity can't support it."
Just because the company put SOME debt off does not mean there is NO dilution. It just means those specific notes won't currently be diluting, but with a gagged T/A, there's no way of knowing what share issuance has occurred since the last financial report. When the calendar flips to February, they can dump 5 million shares every day until March and you won't find out until April.
By then the O/S will be 300+ mil and it'll be spun as "gearing up for an acquisition" and whatever other nonsense has constantly been spewed over the years.
The only thing this company has ever done is be insolvent, issue shares to make up the difference, and enact multiple reverse splits.
The T/A is GAGGED.
This is not up for debate. The company told the transfer agent, POST reverse split, to disallow the giving out of CURRENT share structure data to any shareholder that calls and requests it in order to HIDE ongoing dilution.
The share structure may or MAY NOT update on OTC Markets on a monthly basis. So far, it has, but it does not HAVE to, but that's beside the point. You cannot call the transfer agent and get an UPDATED share structure at any given point you want. That is because the company purposely and specifically GAGGED the T/A.
And, once again, the reason for this is so the company can HIDE dilution from SHAREHOLDERS so that they are at the mercy of getting updated share structure numbers on a monthly basis (potentially).
Absolutely false. Transparent tickers don't gag the T/A. Or rather, companies with any real intent to be legit and transparent don't gag the T/A.
Anything can be a scam even without a gagged T/A, but gagging the T/A is ALWAYS a giant red flag. There's no way of sugar coating it.
It's the same stock it has ever been.
The error lies in the claims that it is anything more than that.
So, as I said, as a trade? Maybe. But, unfortunately for some to make money here, it's a game of musical chairs where others will be left holding bags.
This is because the fundamentals are hollow and the company is the same insolvent turd it has always been.
The O/S will grow and grow and grow.
T/A was gagged after the reverse split.
Monthly updates to the share structure on OTC markets does not mean the T/A isn't gagged.
Yes, the T/A is gagged. If the T/A is called and asked for an updated share structure, they will inform the caller that the company has not permitted the release of that information.
Obvious, it goes without saying that the A/S being left at 5 billion, along with the transfer agent being gagged post reverse split, is not in the best interest of "investors."
It's to hide the ongoing dilution.
No one can decipher Berman's drunken ramblings.
He tweeted "news out on fins next week." Whatever that means.
I guess that can be interpreted as he intends to release some recycled grade school schlock that pertains to his recently released financial scribbling.
Whatever released, if anything releases, it'll be more status quo, forward-looking nothingness that's not even worth reading.
Here, let me bullet-point it.
-References some fake financial number in filings that proves how great everything is going.
-Dangles some carrot about interested investors.
-Talks about how super great past meetings went, the super awesome new meetings coming up, XYZ changes to the software, "testing" that's currently underway, and how they are on the precipice of singing unnamed big insurer / fleet / Santa's elves.
If we're lucky, we might even get some eye-roll inducing talk of a share buyback. That'd be a real treat.
So much pablum for this silly little pinkie.
As I've said in the past, apply even the littlest bit of logic, and this entire charade is beyond ridiculous.
The thing with pinkie insider enrichment schemes is that the origin story is subjectively plausible, but not objectively believable. The tale with ONCI is so not even close to being subjectively plausible that it doesn't even draw the ire of the DD fraud community. It's so laughably transparent it draws indifference.
Shareholders having to pay for Berman's private FMS company?
The year-round hotel room in NYC shareholders pay for?
The magically appearing, retroactively added debts?
The fake Mazars letter?
A letter of intent that is going on 2.5 years old?
Lying about the company being brought up to good standing?
The "Hey, shareholders, send me your gift cards!"
The absolutely laughable stuff this guy has put out has someone allowed him to pump 4 billion shares into the O/S. I can't even fathom that.
Beyond all of this, and so much more I'm too lazy to even list, there's the fact that the product itself is not even viable. The entire hope of "investors" is contingent on a block of plastic that is less useful than a paperweight.
Has anyone ACTUALLY used this product? It literally does not work for Apple devices. It's incredibly janky on Android devices and is way, way too easy to bypass. The programming and support behind it is completely substandard.
Insurance companies? Insurance companies are going to get in bed with Steve Berman (if that's even his name) who is a SALESMAN for the product, and a proven imbecile and pinkie scammer? Sorry to burst the bubble, but ONCI, nor Steve Berman, own any patents or any bit of Cogosense. They have a non-binding LOI, the same 2.5 year old aforementioned LOI with an infinite expiration date (apparently), to supposedly acquire Cogosense that has not been paid in full. UNTIL it is paid in full, Steve Berman owns NOTHING. By paying (supposedly) more than half of the monies owed doesn't = he now has 50%+ ownership. That's not how that works.
There's also zero, absolutely zero way to prove that Berman has paid anything at all to Cogosense. Why, because he said he did in his financials? It's unaudited, alternative reporting nonsense. He can put down anything he wants and then just one day remove the LOI from the financials and "poof," gone! LOI's fall through all the time in pinkie land, don't they? But where does all that money go!
And all of this is punctuated by the fact that Berman holds ZERO common shares of ONCI. This shell is the definition on an insider enriching piggy bank.
Back to the original point, outside of the very obvious sham this whole thing is, all of this is accentuated by a product that has no viability. Insurance companies would do far better investing in dash cams that record the driver and save the data from 10 seconds before and after an impact. People get into accidents because of a variety of distractions outside of just texting. Fumbling with the glove box. Dozing off. You name it.
Anything meant to specifically control PHONE usage while driving is something that will be controlled at the cell tower / satellite level. We have phone games that detect if you are moving at more than just a brisk walk and disable features on your phone to keep you safe. And yes, there are the small niggles of traveling by plane, train or bus to be overcome, but geopositioning and programming is more than sophisticated enough to overcome those few situations.
The future is in autonomy. The future is literally in anything else besides an OBD device with piss poor programming and half-baked compatibility that only slightly works if users operate it with a "Scout's Honor!" policy. Yeah, good luck with that.
Stock bleeds lower-and-lower, excuses and fairytales bigger-and-bigger.
A pump crew will probably load this at .0009 - .0011.
There's always dilution.
Gagged T/A. A company that constantly dips into the pot. Now a long gap until the next filing to have any clue what new debts or share issuance is going on.
It makes not ONE bit of difference that they negotiated a couple notes for a later date. Did they really have another option? They JUST reverse split and don't have the share price or liquidity to possibly pay that debt with shares.
The HVAC acquisition and "new office" is not going to move the needle anywhere. It's more lateral nothingness.
It's the same money extraction machine for insider enrichment it's always been. Underneath that is the facade of an insolvent "revenue generating company."
Flip? Maybe. Invest? Absolutely not.