I can't make heads nor tails out of the numbers supplied in this attorneys letter. The number of mistakes and typos is pure amateur hour. Where to begin?
Here were the 1st quarter share breakdown of insiders. Keep in mind this was as of 3/31/23
46,000,000 Common Joseph Passalaqua 28.75%
39,600,000 Common James Hovis 24.76%
21,600,000 Common Edward Mathias 13.50%
16,200,000 Common Lawrence Kubin 10.12%
14,040,000 Common Stuart Yarbrough 8.77%
12,960,000 Common John Morrissey 8.10%
4,545,000 Common William Burton 2.84%
1,080,000 Common Mark Alarie .67%
925,000 Common John Munoz .58%
925,000 Common David Ambrose .58%
925,000 Common Robert Kirk .58%
900,000 Common Kevin Malloy .56%
304,349 Common MILV .19%
160,004,349 TOTAL
In the attorneys letter it states there were private transactions made by insiders who bought shares from other insiders from around the May to June, 2022 dates. So these transactions happened 9+ months before the Q1 financials were released, yet were not included in the Q1 report. Amateur hour.
Hovis' shares dropped from 39.6 million to 29.6 million. Where did the 10 million shares go?
Mathias' shares dropped from 21.6 to 17.6 million shares. Where did the 4 million shares go? 2 million look like they went to Burton.
Kubin's shares dropped from 16.2 to 15.2 million shares. where did the 1 million go? 500,000 appear to have been bought by Burton.
Yarbrough from 14.04 to 13.04 million shares.
Morrissey is the only one who sat this clown show out. He stayed steady at 12.96 million shares.
And the big winner, or loser perhaps, is Burton who apparently bought or attained an extra 6.5 million shares to up his total to over 11 million shares. Burton could be our Huckleberry. If he was buying shares for real money only 9 months ago then he must have felt this company had real potential. He might be the most pizzed at Passalaqua for effectively gifting himself 42+ million shares to cover a $5k reimbursement. Let's start with him.
William H. Burton
SCI Inc.
1067 E US Highway 24
Woodland Park, CO 80863
We vetted some or all of these insiders, and guys like 2-time Super Bowl participant, Kubin, and former Duke All-American, Alarie, appeared to be solid. But this has turned out to be scammy as heck, and i'm wondering how these other insiders are allowing first Hovis, and now Passalaqua, to screw the 292k puny public float holders over like this.
This can't be allowed to continue. The attorney's letter is full of mistakes and outright lies. We should offer $100 grand for the shell, take your "tech" with you, return the 160 million insider shares to the treasury, keep and protect the 292,164 unrestricted float shares, and keep and protect the 304,349 old MILV shareholdres that amazingly are still holding restricted shares. I'd be in support of freeing up those shares and unlocking them into the public float. It's time they had the freedom to sell or stay. Bring in new management with fresh ideas and throw 3 to 5 million restricted shares max at them and we've got a super low outstanding share count company that could really fly with profits. How would you like to have a company with 596,513 shares in the float and say 4 million restricted shares for a total outstanding of 4,596,513 shares? Think we could make that work? And have less than 5 million shares outstanding! And run by people who understand their fiduciary responsibility to shareholders. And who communicate with said shareholders.
I have a fabulous idea for a company in a super hot industry right now that we could just blow up. It's not in pharmaceuticals so we'd need a name change. But i won't talk about it until i know the insiders could be convinced to walk away. Otherwise it's a giant waste of time.
