On 6-29, Max said dilution not over!
I posted a paragraph by paragraph breakdown of the update on 6-29.
Max told us dilution will continue, not just with NB. He said they have had to resort to OUTSIDE FINANCE COMPANIES. Plural.
He also said we anticipate incurring additional expenses relating to the manufacturing and development of Voice Command, Edge Computing and NB-Iot technologies. HOW WILL THESE EXPENSES BE PAID SINCE THERE IS NO MONEY TO PAY? MILLIONS OR BILLIONS OF ADDITIONAL SHARES.
"The bad news for technology companies like ours is that the cost of developing and manufacturing the hardware and software technologies to achieve industry leader status and world domination is expensive. Technology ain’t cheap. Over the past two years, TriCascade has incurred well over one million dollars in manufacturing and development costs to obtain technology patents and to bring to market the SkiQ; ThermoRing; Smart Light Switch and Smart Outlet. In addition to these costs, we anticipate incurring additional expenses relating to the manufacturing and development of Voice Command, Edge Computing and NB-Iot technologies."
"Unfortunately, when our Company shares are purchased in the market, our Company does not receive that money from the shares of stock purchased. Therefore, our Company has had to resort to funding these manufacturing and development expenses internally or with the help of outside finance companies. Based upon this type of financing, new shares of SRMX have had to be allocated to the market."
As I posted on 6-30:
The update broken down by paragraph
Update is a complete joke...on shareholders
Talk about kicking the can down the road.
It's really more of a sales pitch for the future then it is an update about what has taken place up to now. I don't think Li cares about the shareholders based on this update.
There is no, "I understand how frustrating it has been for our shareholders and I do not take the trust you have placed in SRMX with your investment lightly. All of us at SRMX are working very hard everyday to bring our revolutionary products to market and to provide our shareholders with value for their investment. I will be as transparent as possible, within the frame of NDA's in place with other companies and I thank you for your support."
Instead, we are given a sales pitch and no real facts or information to explain what has happened in the past months since Li took over, and nothing tangible about what will happen in the coming months.
Let's review the update:
"As you know, our Company (TriCascade, Inc/SkyFidelity, Inc/SRMX) has been very busy developing ground-breaking technologies in two separate and distinct industries: the 5G LTE marketplace (SkiQ) as well as the Smart Home marketplace (ThermoRing; Smart Light Switch; Smart Outlet). Soon we will be revealing our development of various “Smart City” applications and devices that will truly turn heads in the industry and around the world."
Ummm, we don't know what they've been busy doing.
SOON, how soon?
Truly turn heads sounds great, not informative.
"We have previously disclosed and discussed key technology that our Company is developing in the 5G LTE and Smart House categories: the SkiQ; the ThermoRing; the Smart Light Switch and the Smart Outlet. The important subcategories of development within these two industries include the development of voice command software, Edge Computing (for Big Data management); and NB (Narrow Band)- IoT"
So, mostly a repeat of the prior paragraph and nothing new here.
"The great news for our Company is that we are quickly becoming industry leaders in all of these categories. The 5G LTE Router business is wide open with innovation centered around 5G LTE Routers which will provide homes and businesses with the benefit of 500 + Mbps internet speeds. In parallel to the rapid development of 5G technologies, we have developed the SkiQ to take advantage of the tremendous opportunities to deliver what we consider to be the first 5G Router for the home and or business."
Industry leaders in ALL of these categories? How can one lead an industry that apparent doesn't exist yet? More of a sales pitch.
SkiQ is WHAT WE CONSIDER TO BE THE FIRST 5G ROUTER. WE CONSIDER? So, maybe another developer of a 5G router thinks they are the first? We consider does not mean we are.
"The difficulty with being an innovator in the 5G world is that the telecom industry is not quite ready to deliver on their end of the bargain—5G is not ready and therefore the communication technology—the SIM cards—necessary to deliver fast broadband is also not ready. In addition, none of the Telecoms in this country have figured out how to deliver a 5G “unlimited” data plan—without this plan 5G Routers cannot fully deliver on the Home Broadband promise. Therefore, the introduction of SkiQ to the marketplace has been delayed due to the inability of the telecoms to provide us with the SIM technology we need to operate the SkiQ. When the telecoms are ready to deliver their SIM technologies to us, we will be ready to unleash SkiQ to the world!"
Oh boy. Difficulty with being an innovator? The telecom industry not ready to deliver on their end of the bargain? So this means SRMX is further along in it's development and innovation then the likes of ATT, etc? SRMX is casting blame on the major telecom companies of the world for holding up the SkiQ from being utilized? C'mon man. We're ready but it's all their fault. Who believes that? And when SRMX announced in February that 5,000 units would be delivered in June, did they not know the telecoms wouldn't be ready?
"With respect to the Smart House, our Company has developed the first of its kind Smart Thermostat that incorporates NB-Iot “SIM” communication. What is so cool about this you may ask? NB-Iot communication does not require WiFi in the house to provide basic communications between the Cloud and Smart House devices. NB-IoT replaces WiFi for purposes of all Smart House Communication. Why is this important? If you don’t have WiFi in your home-or if your WiFi has a high failure rate—your Smart House can still be Smart."
Another sales pitch for a product that can't be sold yet. Doesn't say when this will become a reality.
"TriCascade’s Voice Command System built into our Smart Light Switch and Smart Outlet is also a technological innovation that sets the stage for our domination in that industry. Why buy a “voice command” speaker (Alexa, etc) when you can talk to Smart House devices already built into the walls of your home?"
Another sales pitch and pie in the sky talk of replacing Alexa. Nothing here that helps shareholders understand what has happened up to now.
"Finally, in the NB-IoT space, our Company is currently working with Tier 1 telecommunications companies to develop the first Smart City NB-IoT solutions. These far reaching applications will provide cities with the ability to control water, electricity, lighting, air quality, soil quality as well as various other environmental issues."
Another fluff sales pitch with no tangible information.
"Throughout the course of the development of all of our new technologies we have engaged with several major Tier 1 technology companies to perform beta testing of our devices with their technology. Unfortunately, due to those frustrating NDAs we have to sign, we are not allowed to disclose additional information about these new relationships currently in the development stage. We are currently negotiating with these companies to jointly disclose our business relationships and agreement. For various reasons, some of these disclosure relationships will not occur until the CES show in January 2019. Others will be disclosed in the coming months."
Waste of words. Frustrating NDA's we have to sign, really? Is that how a professional organization refers to standard documents? Why not simply say there are NDA's in place and as soon as we are able to disclose information we promise we will. We anticipate this will happen late in 2018 or early 2019? Seems condescending for them to say it how they did.
"The bad news for technology companies like ours is that the cost of developing and manufacturing the hardware and software technologies to achieve industry leader status and world domination is expensive. Technology ain’t cheap. Over the past two years, TriCascade has incurred well over one million dollars in manufacturing and development costs to obtain technology patents and to bring to market the SkiQ; ThermoRing; Smart Light Switch and Smart Outlet. In addition to these costs, we anticipate incurring additional expenses relating to the manufacturing and development of Voice Command, Edge Computing and NB-Iot technologies."
Bad news for tech companies LIKE OURS. So, trying to say we are in the same boat as others to make it seem like this is the norm.
World Domination? Are you serious. This is so over the top it is ridiculous. Newsflash, no company has achieved world domination.
Technology ain't cheap. Did they just figure this out? Tricascade has spent over a million on products including SkiQ. I thought SkiQ was under the SkyFidelity? We anticipate additional expenses. Why not just say, we will incur hundreds of thousands of dollars in additional expenses? We anticipate, so maybe we won't? C'mon.
"Unfortunately, when our Company shares are purchased in the market, our Company does not receive that money from the shares of stock purchased. Therefore, our Company has had to resort to funding these manufacturing and development expenses internally or with the help of outside finance companies. Based upon this type of financing, new shares of SRMX have had to be allocated to the market."
Wait, the company doesn't receive the money from share purchases?? OMG, the only company this happens to. Is this supposed to make us feel bad for them? Therefore, as if they have no other option, had to resort to funding internally or with outside COMPANIES (plural). Internally, how? Would be nice to tell us how they are able to fund internally but I don't believe that is true. Outside companies, which means NB is not the only one who has/will dilute the crap out of this. New shares allocated, but they don't say how many so far.
They give specifics in the sales pitch of devices above but no specifics related to how it is impacting shareholders.
"What is the upside to all of this? Our opinion is that our Company will be one of the most important and innovative companies in the world delivering advanced and unique technology solutions to the 5G, Smart House and Smart City worlds. We anticipate that the sales of certain Company technologies will not become fully deployed until the 4Q of 2018 or the 1Q of 2019. In the meantime, we are working every day with our domestic and international technology relationships to create unique opportunities for our Company to sell products across the globe."
So, the only upside to all of this is their opinion that the company will be blah, blah, blah, in the world, blah, blah, blah.
That's the upside for shareholders?
It's a slap in the face to give us this sales sheet and not address all of the elephants in the room.
Basically we were told shares will be diluted into oblivion and nothing will be happening for us until 6-9 months from now, and we should just be happy and believe in world domination.
Who is okay with this, seriously?
AI
