Nothing like using the same line over and over.
I hope these clowns have a lot of personal assets.
Summus Works, Inc. Proposal to Purchase Up to $748,000.00 of Common Stock
06.09.06, 9:14 AM ET
"….The Board will discuss its lender financing options, secured personally by Company officers and members of the Board, committed to eliminating once and for all the one-sided quote and sideways movement of the Company's stock."
From today’s PR:
“…to utilize personal assets and real estate holdings to secure cost effective financing to expedite pending and future mergers and acquisitions intrinsic to the execution of the Company's vision of growth.”
QUESTION: If Dan couldn’t raise money for the buy back of SMMW stock in June, how is he going to raise money for future projects. All he does is sell more shares to get more money to run a faltering business. Todays PR is another attempt to say anything, no matter how outrageous, to get the PPS to move.
Lets continue: This from a July, 20th 2006 PR:
“…Management emphasized that the Board's initial decision to secure financing for the VVV buy-back, secured personally by Company officers and members of the Board, exhibits irrefutably its commitment to increasing shareholder value and the elimination, "Once and for all, [of] the one sided quote and sideways movement of the Company's stock."
This from a July 27th, 2006 PR:
“…announced that in a special meeting, its Board of Directors unanimously approved a $400,000.00 increase to the Company's previously announced…Management reiterated that the Board's decision to implement and increase the VVV buy back with financing secured personally by Company officers and members of the Board,…”
QUESTION: Did any of you notice the OS went up instead of down? Of course you did. How does this relate to todays PR? Consider what may have caused the share buyback PR's to be unfulfilled:
1) Dan was unable to obtain financing to buy back the shares. e.g. Bad credit history/court collection cases torpedoed any effort to raise funds.
2) Dan never intended to buy back shares. Rather the PR was to help move the PPS only.
3) Dan wanted to fund the buyback with assets but did not have the assets to pull off such a maneuver.
So, what does this mean? Well, if you’ve been watching SMMW for awhile you should be asking yourself, “If Dan couldn’t pull off funding via personal assets for the share buy backs, he PR’d, why should we think he’ll get funding with personal assets for this PR?
Once again, this is nothing more than another fluff PR to move the PPS. However the PR has no foundation to effect a change in the PPS.
Keep in mind that Dan has played this card so many times before that no one believes him now.
Note#### This post is made up in part from another post. Please do your own DD.
AI
