Another plausible scenario is this has been a scam all along. The loans weren't really loans at all and possibly no money has changed hands with the exception of diluted shares sold and divided up among those involved. No businesses have been bought, no capital has been raised. It's all on paper only. It might be a vehicle to defraud investors. All evidence seems to point in that direction. It's certainly hard to figure out where all that money went. It rather neatly explains the need for toxic loans that don't really exist. Especially with all the revenue claimed pouring in. That's how the scam would work, if it was a scam.
This is all my opinion. Maybe I'm wrong.
One thing I'm not wrong about, Steve Berman has consistently lied to the shareholders. Every filing claiming active status in Delaware is a lie. An egregious and illegal lie. And that's just the tip of the BS iceberg. The revenue is BS, Sifthouse is BS, Digitent, Pharrel, the second PL, is all BS. Now he's trying to stoke your dreams of riches with hints of Geico. That will NEVER happen. It's absurd. It's comical. Steve has as much chance of proving that's true as I have of proving it's not. Because Geico won't talk to either one of us. He intentionally picks a company that is big enough to be difficult to verify.
He screwed up with Carmax and Autonation. They are pretty accessible. Lots of investors have one nearby. I do. Those were lies. He never had more than a cursory connection to Carmax or Autonation. By cursory, I mean he knew a guy that would let him take a picture with the lame ONCI flyer in a plastic holder. Or, he just winged it. At any rate, nobody at any of the Carmax or Autonations I have personally visited have ever heard of ONCI, Cogosense, bSafeMoble or fleetsafer.
I'll disclose my position in the company. I own 65k shares. Valued at between 6.50 and 13 bucks. I've lost about 400 bucks so far. I expect to lose it all.
It's been fun watching and participating in the soap opera that is ONCI. Most of my investments are pretty boring. A lot of dry analysis and formulas. The characters involved here are amusing. So it's been worth it. I thank you for that. It's a fun distraction on an otherwise boring day.
For those that have lost large amounts, I'm sympathetic. Live and learn.
