To this point, I have been supportive and made several requests for information to be released to the public that he has claimed to fulfill. To this day, he still has not done the following:
1. Update on stock tranche payments.
2. Update on project completions for 4th Q 13 and ytd.
3. Update on the state of unpaid income taxes from the prior company's business model.
4. Update on the hiring of work crews (number and length of time).
5. Any numbers AT ALL.
I did not know why, until seeing that the company was still held under the control of the Magliochetti trust. It is greatly disturbing. Due to his constant yes answers without any actual follow through for the shareholders, I have lost faith that he is the only one making the decisions. Even though I may think he has good connections for the telecomm business and a great amount of contracts, if you have the Magliochetti's trying to get as much money as they can from them, it can become a problem - for both the company and it's shareholders.
Without any numbers, I cannot honestly advise people to buy. There is simply not as much evidence, by the current action, that the shareholders are being taken into consideration. Billy may have been hired by the board, but if the board voting power lies solely in one person, then how do you expect Billy to actually be able to run it the way he may want? I have done hours of research and this is simply the missing piece, to me, on why Billy has assured me multiple times that he would get information to shareholders and has not been able to.
I apologize for any offense or shock. I am simply very surprised and disappointed by what has taken place here. Without more concrete knowledge of the numbers and what is going on in that audit, I have to advise a lot of caution. We still don't know how many stock tranche payments were paid or not. I had confidence they had to be over soon or already done, but the R/S without the A/S decrease speaks volumes, to me. I am also suspicious of how many more promissory / convertibles may have been issued again for more funding. If they are doing well in profit margin, this shouldn't be occurring. If this were the case, though, I would think that these tranche payments since should have been stopped and another payment plan instated in cash instead of stock, also. I have done my utmost to provide people with up to date information, and encouraged them to buy into this company. I have stated that I was long, and had confidence in Billy to take care of these people, and now that is no more. I would like the board to understand that my confidence has since degraded, and let them know of what I am doing as well.
I also did, and always do wish everybody luck in trading. No matter whether I think it is dead or not, I will wish you luck. I also did say I will try and keep you updated as I hear anything more, as I am still mod here, and do have the best contact with him so far.
I will probably still be seeking a small position again soon, but for now, I am stepping back. I do wish everybody great luck, though, here or otherwise.
I apologize for those that bought in heavily and have taken losses. I still think this has company has a chance, but we need some amazing numbers for that. I will still be here for questions, though. Shooting me a pm or responding to my posts will get the quickest response. Happy hunting folks!
AI
