On4 Communications Inc (ONCI)

[zombywolf]

I think I have this figured out now. You have to go back to TX*TM to understand the FMS situation. FMS Marketing was set up within TX*TM to market the same DD products as now at ON*CI. During the two years Stevie was at TX, sales of the DD products were virtually nil. In fact, that drove the share price down to no bid, which seems to have led to his departure. When you look at his employment agreement with TX, you find he had a one year no compete. That fits with his departure there in 2015, and arrival with ON*CI in 2016. Stevie was brought in by TX management to grow the DD app business, which went nowhere during his tenure. It is still unclear whether FMS Marketing was in TX prior to Stevie's start in 2013, or created while he was there to start his efforts to sell the apps. There is no registration info anywhere for FMS, it was just a name created to do business in that market. Anybody can do it, just put that name on a business card. Here is the good part. It appears that our Stevie brought that marketing company to ON*CI, as it, not Cogosense, is referenced in disclosures to the OTC. In the 10/31 annuals, it was noted that "The Company" (ON*CI) acquired 49% of FMS in November 2016, without noting from whom it was acquired. It was also noted in the same filing that "The Company" (ON*CI) acquired, "from the Company's CEO" (our Stevie), "the remaining 51% share of the FMS Safe Driving App, business and IP" for $2 million dollars. Payable to "The Company CEO"!! Guess who that is, Folks! Yes, our Stevie. Our Stevie sold a fairly worthless marketing company which he owned to "The Company" (ON*CI) and pocketed $2MM for his efforts. There is no one to go to for approval because our Stevie is "The Company". The dead giveaway was the wording of the September acquisition. It didnt say the remaining 51% of Cogosense was acquired, but FMS, and from the company's CEO (our Stevie). It then can be inferred that the 49% acquired in November 2016 was purchased from the same source (The Company CEO) for an unknown amount. That is why there are no details about the Cogosense acquisition, because it was all in house. News releases without details can be anything or nothing, you have to go to somewhat "official" documents you can find for sifting out the crap you get from Stevie. This was a public service announcement from this post's author, and is completely IMO, to fit with the facts available.