Replies to post #82294 on High Wire Networks Inc (HWNI)

[Ecomike]

One must distinguish between a fake company, versus "revenue pipe dreams" "Blue sky pipe dreams" sold as revenue that are real dreams known as business plans, but are fake because they are not real revenue or profit.

[Ecomike]

Madoff pulled the greatest Ponzi scam in history, partly because he was the CEO/President of NASDAQ and trusted and respected before he started his Ponzi scam.

I fear history has repeated itself here and SGSI is just the third iteration of it and Wave may soon be the 4th.

Enron was the real deal until they started cooking the books to hide huge financials mistakes they made later.

Confidence scams work because the front for the scam has impeccable credentials in many cases.

SGSI has filed SEC fillings since Sept 2018 that now leave zero doubt what has been and is going on here.

[Ecomike]

Thanks for the link, that confirms they have pulled this style of scam before SGSI???:

OMAHA, Neb. & NEW HAVEN, Conn.--(BUSINESS WIRE)--Transgenomic, Inc. (NASDAQ:TBIO), and privately-held Precipio Diagnostics, LLC today announced entry into a merger agreement, pursuant to which Precipio will become a wholly owned subsidiary of Transgenomic, and Transgenomic will be renamed Precipio, Inc. In connection with the merger, it is anticipated that the original Precipio security holders will receive between 62% and 80% of the outstanding shares of the combined company, depending on the relative amount of outstanding liabilities of the parties at closing and prior to the investment of new capital. The merger is expected to close in 2016, pending approval by Transgenomic shareholders and other closing conditions set forth in the merger agreement. Simultaneous to the merger, the combined company will receive an investment of up to $7 million from a syndicate led by BV Advisory Partners in a private placement of preferred convertible securities, and $3.0 million of outstanding debt of each company is expected to convert into this same class of preferred convertible securities.

It too looks just like a share printing scam to collect debt in a failed investment?

If the companies had any chance of being profitable, why sell them???? WHY add money to the deal to sell them "ie by convertible debt).

The Nasdaq firm of that deal is giving up, up to 80% of the shares up front for cash it is probably desperate for and taking on massive convertible debt in a disguised R/M???


All that proves is they have done this before.

It looks like "Doew Cheatem and How" on Steroids???

Perhaps they should announce a merger of Dowe Cheatem and How" with Scams-Are-Us and then at least we could get a good laugh out of our donations to their favorite Genesis charities???

[Ecomike]

Also from that link more clues to the toxic nature of their other dealings?

"Transgenomic has filed to complete a reverse stock split of between one-for-ten and one-for-thirty before the merger closes, and the company’s outstanding debt is expected to convert into common and preferred shares. The companies expect that shares of the combined company will be listed on the NASDAQ exchange and trade under the “PRPO” ticker "

[nordicroots]

And look how well PRPO did after all of their efforts in coordinating that! While PRPO shows on the long term chart a stock price on September 29, 2000 of $8,198.19, today after all that effort by BV to bring this deal to market the stock sits at a dismal price today of $0.1762 per share. Anyone eager for some more of that kind of action? No not really very interesting it is?