Wow. I'm in the middle of an extended business trip and have been off the grid market-wise until today.
BS Schneiderman no longer being involved with SCRC is major news (albeit stale to everyone here by now, LOL).
No idea whether this was voluntary (remember, he is a near octogenarian and many had suspected that his addiction to using paid criminal pumpers like JOSEPH ZAMPETTI and his CORE group... ...his multiple mysterious "gifts" to undisclosed parties of 1M share blocks at a time... ...his endless fluff PR's... ...his repeated knowingly false statements about imminent fake catalysts -- in essence, a general trend/pattern of wanting to shoot the sp up as high as possible as quickly as possible INSTEAD of simply executing the business model and letting the market gradually recognize SCRC's value -- that all these collectively were indicators that this was simply another case of a sad old man looking for one last cash grab) or involuntary, but it is a step in the right direction nonetheless.
I am troubled by the appointment of Adam Brosius as interim President. Adam, via his Black Cat Consulting entity, is no different than SCRC's officially sanctioned homophobe and criminal JOSEPH ZAMPETTI in the sense that he was also one of the non-disclosing paid promoters that were involved in the epic P&D during the summer of 2013. Adam has no relevant industry experience and I severely questioned his appointment as the Director of Business Development. I had pointed out that his appointment came at the same time that SCRC's commissions expenses began skyrocketing from the acceptable 40-45% range to the horrific 65% level.
Shareholders should demand that SCRC disclose the financial conflict of interest that Adam has in his role as President while also serving in the dual capacity of Director of Business Development.
Regarding the new CEO, I know little about him at this juncture and am willing to extend him the benefit of the doubt -- even though as a member of the BOD, he knew damn well what BS Schneiderman was doing with regards to associating with known criminals and tarnishing SCRC's name and destroying shareholder value.
I am concerned with his lack of industry experience/backgound. Hopefully, he and the est of the BOD will take their responsibilities seriously and find someone qualified who is willing to step in, take the CEO & President reins (yes, this is quite common for companies as small as SCRC for one exec to hold both titles), send the interim CEO back to the BOD, boot Brosius out altogether, and turn SCRC around.
It would speak volumes to the market for the interim CEO to publicly denounce JOSEPH ZAMPETTI and his CORE group and formally disassociate SCRC from securities fraud violators going forward. But I wouldn't hold my breath.
Shifting gears a bit, I see that JOSEPH ZAMPETTI is still pumping away, encouraging folks far and wide to continue buying and holding. Even forgetting for a moment that he is a Section 17(b)-violating paid promoter, shareholders should ask themselves this:
If a stockbroker recommended that you load up on a stock priced at 1.05 and NEVER once told you to sell anything, but instead actively discouraged you from ever selling or trading a single share, and instead continued to encourage you to keep holding and keep buying more shares all the way down to .04, what would you think of this stockbroker? Would you ever believe anything else this stockbroker said if he encouraged you to hold (and continue buying) stock in a company while your portfolio value tanked over 95%? Now if you still would use this stockbroker, then I suppose it would make no difference to you either whether this stockbroker was being compensated by the company to solicit buyers for the stock... ...so GLTU then -- you'll need it, but by now it is far too late for even luck to help...
For everyone else, as stated previously, just remember how to translate the mantra of JOEY Z and his CORE and you should be fine:
* Bad news = Good news
* No news = Good news
* Neutral news = Good news
* Good news = Best news ever
