We don't all know better! And we all have stories to tell!
Giant red flags should go up re: any company, where one person is basically accountable to no one, but is controlling everything! That person can even take trips and write them off as a business expenses. And that person can "entertain" and write it off as a business expense! Who pays? The shareholders! Who decides CEO pay? In this case Jimmy-Boy! Who decides Schramm's pay as the Chairman of the BOD? Hmmm...Schramm! Schramm is the ONLY DECISION MAKER. Even if XLIT were "legitimate", and that is an excellent question, NO ONE CAN TELL CEO, JIMMY-BOY, THAT HE IS AN "IDIOT", i.e. no one is reviewing the business plans and/or activities and explaining the business sucks! What a great way to operate! Pay yourself and be accountable to no one! Jimmy-Boy can pretty much do as he pleases with XLIT shares and XLIT "shareholder monies"!
Another big red flag was Schramm doing a deal with HIMSELF (Bosch) to pay HIMSELF license fees! If you are investing, it makes a world of sense to do at least a couple of hours of DD! And in XLIT's case the ultimate red flag was the incessant Traders' Choice promotion!.
The list of James Schramm's transgressions goes on forever! Basically, he doesn't know jack about the sign and advertising businesses!
IMO...OTC "Pinkies" are ALL "guilty" until proven otherwise! In other words, with the Pinkies the chances of any business success are highly remote. A goodly number are scams! Some traders, not investors, can make a few bucks, but a "real investor" should verify, via DD, the veracity of the company and its claims. FYI...recognizing the XLIT issues early on, I and a couple of others started providing the information re: the red flags. Thus far those posts have proven to be correct! And those initially "promoting" XLIT have all disappeared! We shall see!
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