I think what happened the other day is horrendous.
I originally got in this investment from the recommendation
by Bob Winston. He represents SMSE as their IR person. I got to know him when he was over at Market Smart communications. He always represented himself as if he was a partner in the IR firm. I made a few sizable investments with some of the companies he represented at that time. At one point Bob was fired by the IR firm, and when I asked why they would not tell me. It took me a few weeks before I finally got a hold of Bob and I was a bit angry that I had not heard from him because I still had numerous investments in companies he previously represented. He apologized and told me he was working on this really big deal. He told me that he was directly working at SMSE's office. He at that time told me that this was the most exciting company he ever represented in over 40 years. He told me that he felt the stock could easily go to $.40 or higher. I can't tell you how many times he called me telling me, buy more, buy more. It was almost every other day for a few weeks he would tell me the stock was ready to explode. That big announcements were on the way. I took a very sizable position over a few weeks. He told me he had family and friends invested in this is well. I am kicking myself for believing in someone and not doing my homework first. I did happen to speak to Arshad Shah the CEO just last week. I spoke to him for about 40 minutes. He never once mentioned anything about a reverse split. That should have absolutely come up in conversation.
I called Bob Winston on Friday and was screaming at him. He said he did not know about this. How the heck can you represent a company as their IR person as well a spend a few weeks at their office and not know about this.
I'm not sure what this is going to do to all of us as shareholders.
I have never heard of a company doing a rollback that was nonprofitable and on the pink sheets that ever once worked out as a positive thing for its shareholders. The company currently only has a market cap of about $1.2 million. My biggest fear is that they got some kind of evil financing deal which was to do a rollback. Give a large percentage of new shares to some new financier. Meanwhile management will just give themselves options and all kinds of huge stock incentives to where they will come out smelling like a rose and we will all be______ you know. I just hope to God they don't have some crazy evil intention of diluting us to death.
I am going to find out what happened. If it is a dirty deal for us I will be looking at filing complaints with the SEC as well as forming a class-action lawsuit. I hope the company stays clean so I can avoid all this headache. Management and the board of directors of any publicly traded company weather reporting or non reporting have a fiduciary responsibility to represent its shareholders in the best manner possible. If that is not fulfilled, we should raise hell.
Please call me if anyone has any information on this company or Bob Winston
Scott: 570-472-2287
e-mail: wsr2000@ptd.net
again if anyone has any information, please feel free to call me anytime. I will post more as I learn more.
