Tuesday, March 20, 2018 9:47:07 AM
https://moxreports.com/
March 16, 2018Featured, VUZI
This report is the opinion of the author. The author is short VUZI.
Vuzix recently used an undisclosed stock promotion involving dozens of mainstream media outlets to artificially inflate the share price and volume, and then raise $30 million
Photos of leaked documents from IRTH Communications show IRTH bragging to potential clients that it was responsible for more than 30 articles from mainstream media outlets which all simultaneously erupted in connection with Margolis’ “Alexa ruse”. These specific IRTH sponsored articles were conspicuous in that they offered effusive praise for Vuzix but appeared as standard news on dozens of mainstream sites
The information contained in the articles and product reviews was flat out wrong, but was then repeatedly re-broadcast by Vuzix (esp. Margolis) in order to inflate the stock. Margolis made heavy use of social media, adding the $VUZI ticker next to the sponsored articles
Vuzix’s “Blade” is little more than a low tech mock-up which serves as a prop for journalists to conduct sham reviews. When these journalists “reviewed” the product at CES, neither the Alexa feature nor the browser were functioning – not for any of the journalists. Yet these same journalists then widely touted the device in their mainstream bylines, overwhelmingly on the basis of the Alexa features that actually don’t exist !
Matt Margolis conceals his past employment by multiple fraudsters who had also been behind undisclosed promotions on Vuzix for years. Margolis’ former employer Mark Gomes was shut down under SEC fraud proceedings in September just after running his latest promotion on Vuzix
With a separate promoter, Margolis was actively promoting Cemtrex and other IRTH clients without disclosing that he was being paid via IRTH Communications. Cemtrex subsequently collapsed.
Vuzix’s recent “Alexa ruse” was actually a recycled ploy that Margolis had used on Vuzix in 2016,while he was still employed by outside promoters. Just like with the “GoPro ruse” in 2016, adding Alexa functionality costs nothing and can be done in just one hour by downloading a simple developer kit. Margolis then uses this non-event as a pretense to run a stock promotion
Over the past 11 months, we have seen a very visible acceleration in SEC enforcement against this exact type of fraud. The recent undisclosed IRTH promotions were now too blatant and were then used for an immediate $30 million capital raise at $9.95. Investors in that offering ended up seeing nearly immediate losses after the pump campaign stopped.
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Recent VUZI News
- Vuzix to Bring New Low Cost, Full Color Waveguides to Display Week 2024 • PR Newswire (US) • 05/10/2024 12:00:00 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 05/09/2024 08:01:47 PM
- Vuzix Reports First Quarter 2024 Results • PR Newswire (US) • 05/09/2024 08:01:00 PM
- Vuzix Reports First Quarter 2024 Results • PR Newswire (Canada) • 05/09/2024 08:01:00 PM
- U.S. Index Futures Dip, Bank of England Holds Interest Rates at 5.25% • IH Market News • 05/09/2024 11:47:20 AM
- Form EFFECT - Notice of Effectiveness • Edgar (US Regulatory) • 05/06/2024 04:15:16 AM
- Vuzix Schedules Conference Call to Discuss First Quarter 2024 Financial Results and Business Update • PR Newswire (US) • 05/02/2024 03:30:00 PM
- Significant Productivity Improvements Achieved for Client Using Vuzix Smart Glasses • PR Newswire (US) • 04/24/2024 12:30:00 PM
- Global Retailer Expands Its Use of Vuzix Smart Glasses to Support Its Warehousing Operations • PR Newswire (US) • 04/23/2024 04:45:00 PM
- Vuzix Wholly Owned Subsidiary Moviynt Partners with NetLogistik to Offer Mobility Solutions for the Warehouse • PR Newswire (US) • 04/16/2024 12:15:00 PM
- Vuzix Reports 4Q and Full Year 2023 Results • PR Newswire (Canada) • 04/15/2024 08:15:00 PM
- Vuzix Reports 4Q and Full Year 2023 Results • PR Newswire (US) • 04/15/2024 08:15:00 PM
- U.S. Index Futures Surge after Dow Jones’ Worst Week, Oil Prices Dip • IH Market News • 04/15/2024 11:08:21 AM
- Vuzix Schedules Conference Call to Discuss Fourth Quarter and Full Year 2023 Financial Results and Business Update • PR Newswire (US) • 04/09/2024 01:15:00 PM
- Vuzix Commences Online Sales of Its MicroLED Binocular Waveguide Smart Safety Glasses • PR Newswire (US) • 04/08/2024 12:45:00 PM
- Vuzix Receives New Additional Orders from Two Aerospace Defense Firms to Further Develop Their Waveguide-based Display Solutions • PR Newswire (US) • 04/04/2024 12:00:00 PM
- Vuzix Enters into Reseller Agreement with UK-based Purview Services and Ships Their Initial High 6-Figure Smart Glasses Order • PR Newswire (US) • 04/02/2024 12:00:00 PM
- US Stock Futures Stable in Pre-Market On Path for Consecutive Quarterly Gains, Oil Prices Rise • IH Market News • 03/28/2024 11:42:00 AM
- Vuzix to Delay Filing of Its 10-K Annual Report and Postpone Related Investor Conference Call • PR Newswire (US) • 03/27/2024 09:30:00 PM
- Vuzix Schedules Conference Call to Discuss Fourth Quarter and Full Year 2023 Financial Results and Business Update • PR Newswire (US) • 03/11/2024 01:15:00 PM
- 2024 State of the Industry Brief on Warehouse Picking Supports a Strong Future Demand for Augmented Workforce • PR Newswire (US) • 03/07/2024 02:00:00 PM
- Vuzix Wholly Owned Subsidiary Moviynt to Showcase Breakthrough AI and Machine Learning Powered AR Smart Glasses Technology at Modex 2024 • PR Newswire (US) • 03/06/2024 02:00:00 PM
- Vuzix To Showcase Cutting-Edge AR Smart Glasses Technology at Mobile World Congress Barcelona 2024 • PR Newswire (US) • 02/23/2024 02:00:00 PM
- Form S-3 - Registration statement under Securities Act of 1933 • Edgar (US Regulatory) • 02/09/2024 10:26:06 PM
- Vuzix Expands Its Market Leadership in Optical Waveguides with the Addition of Integrated Vision Correction Prescriptions • PR Newswire (US) • 01/30/2024 07:00:00 PM
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