Back in November 2010, PUBM entered into an agreement with Signifi Solutions to deliver DVD rental kiosks (for US and Vancouver? ). Then they also teamed up with Signifi to jointly manage and expand the Spot DVD movie and game kiosk business in Toronto and "other Canadian locations". In March, PUBM, deployed the 25 "test" kiosks in Riverside County, CA. In April, Signifi announced their new "Rainman" model…"waterproof" with "automated cooling" outdoor kiosk and they deployed them in outdoor locations in the US. Then on July 20, PUBM announced that they were going to expand into the San Diego and Vancouver markets. Shortly after on July 27, Signifi announced its "managed services" feature and quoted Gregory Waring in their press release. On July 29 PUBM issued 200,000 shares of stock to Signifi. They also sold 1,270,000 shares of stock to 4 investors for $127,000 and 2,122,750 of stock to 3 investors to whom they had previous contractual obligations; and finally, they contracted with Salzwedel Financial Communications, Inc. for investor relations services. On August 12, Stuart Subotnick, of Metromedia Co., purchased 750,000 more shares making his total 2,466,000 shares. Effective as of August 23, 2011, Edward Frumkes and Joseph Merhi resigned from the board of PUBM. Their departures were not due to any disagreements with the company. Effective as of August 29, PUBM ceased renting DVD and Blu-Ray movies at its 25 kiosks in Riverside County California. They also furloughed all non-officer employees. "Officers continue working in an unpaid capacity." They say they are "seeking funding to move the kiosks into local warehousing and to eventually relocate the kiosks to a different area and resume operations." They're web site freezes that way and they don't answer phone calls or emails to "investor relations". Next PUBM issues an 8k stating that Gregory Waring resigned effective September 8. Curiously the Spot kiosks "reappear" on the horizon in Niagara Falls, "owned" by a local entrepreneur, Bob Cortese. We find all this out after our own internet research prompted by the Twitter feed of Rick@SignifiKiosk Toronto, Canada . Rick thankfully has posted photos of one of the Niagara Falls' kiosks that was deployed on September 12. My take is that Gregory Waring is still working for PUBM in a way, but is employed by Signifi as head of their "managed services" team. As for Bob Cortese, I think he may be "part owner" of the Niagara Falls area kiosks and is getting a cut from Signifi's 50% profit as part of their agreement of 1/14/2011.
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