Replies to post #158665 on On4 Communications Inc (ONCI)

[90 West]

You my friend are at master at DD.

[zombywolf]

Brother Wolf, I am honored to be on the same board with you. It didnt even dawn on me about the FMS Marketing angle of Stevie's vs Cogosense. There is a lot more fun to come, Folks. Kiddies should probably get out of the room, it could get ugly around here at the Church of Steve.

[samroux]

Yuck. I've mostly been neutral on this ticker, watching it unfold, but this is too big an indictment for anyone to ignore. If this is as it appears, then that's a page right out of scamming 101 for pink sheet CEO's.

[Jimmy Quick]

Really?? 51% is Cogosense, yes they were 51% owners of the ON4 (49%)/COGOSENSE (51%) Joint Venture/product referred to as FMS, and now they are not because they agreed to sell for 2 million. So simple.

[Jimmy Quick]

Awesome you stickied this. Thanks again for bringing to our attention that we purchased COGOSENSE and will have rights to 100% of revenues going forward, and we got it for 1.5 million less than expected. Cha Ching. Thanks Steve and Thanks Carribean, great supporters here.

[OTC Whisperer]

I guess I am confused now when I didnt think I was before, lol!

So is it being implied that SB owned BSAFE wholly before selling it to ONCI where it was later incorporated under the Cogosense umbrella along with Fleetsafer after the fact?

Or did Steve own Cogosense before selling it to ONCI (and BSAFE & Fleetsafer were already products of Cogosense prior to this)?

The annual says the sales price for FMS was $2M and still owed to SB, but initial PR on 9/1/17 says: "...CEO Steve Berman states, "The price is 3,500,000 USD and will be paid in 6 installments over the next 6 months..."

[zombywolf]

This could be the greatest scam Steve has yet put to his shareholders. Steve is counting on his disciples to cover the fact that he isnt buying Cogo, but a distributorship he set up to sell product. These "deals" and "sales agreements" are sub producers under his master contract with Cogosense. Nowhere does Stevie say that ONCI owns 100% of Cogosense. He may inply it, but have never read anything that says he owns 100% of Cogo. That is why they are not in the financials.

[BigBadWolf]

twice now? https://backend.otcmarkets.com/otcapi/company/financial-report/186735/content page 12 December 9, 2016 (top of the page) sounds vaguely familiar/similar

Most recently, Mr. Berman co-founded 3DMC, a premier digital multimedia company, and served as CEO of Stealth Sports and Marketing, a consulting firm specializing in marketing and multimedia solutions to professional sports teams.

https://investorshub.advfn.com/boards/read_msg.aspx?message_id=133483215&txt2find=CEO|DD

ONCI Berman Private

https://investorshub.advfn.com/boards/read_msg.aspx?message_id=138618159

#somanyarms #somanytrails

truth & verifiable transparency will set ONCI free

[zombywolf]

Translation-the ON*CI CEO sold a worthless company to ON*CI shareholders for $2 million dollars, and made it sound like he bought Cogosense!! And guess where the $2 million dollars goes?
Of course, IMO.

[Smokey810]

Answering this question takes a little history lesson into the CEO.

"why should or would shareholders be paying Steve Berman, the company's (FMS) CEO the amount filed & quoted above since FMS Marketing only has the licensing rights to distribute Cogosense's apps."

As I understand the CEO's past as it relates to Distracted Driving...

First I have to point out that SB is the CEO of ONCI, not FMS Marketing as referenced above. He was the owner of FMS Marketing.

I believe, long before involvement with ONCI, SB recognized the distracted driving epidemic and sought out the best distracted driving solution, or was directly involved in creating it (whatever). He then secured that device through licencing agreements, thus FMS Marketing (that's the important part). I'm sure a lot of time, work, effort and money was involved in completing this process.

To build the business, he sought out an OTC company he could run his start up through, enter ONCI. With the ultimate goal of becoming Hexagon Holdings.

In order for ONCI to benefit from the distribution of the distracted driving devices, they had to own the licencing agreements... so we (shareholders) had to buy them.

I guess what your referencing is that SB could have given them to ONCI for free, or at little cost? I guess that is true, and to each their own... but I certainly wouldn't do all that work for free, and I wouldn't expect SB to either.

I have no issue with how this was conducted. There will be more revenue generated as a result of this purchase in the NEXT 2 QUARTERS than the entire purchase price. I'd say that's an extremely quick payback, not to mention extremely profitable.

It's all there, if one was so inclined to do all the DD.

Go ONCI!
All posts are my opinion only.

[Bobwill59]

I agree with you BigBadWolf. We are probably paying for the CEO'S bar bill plus his groceries and everything else he has to buy.