They don't have the cash to buyback the shares at any realistic figure (if there is one)...1409583737 X .03 = $42287512.11 They would need $42 mil just to buy the outstanding at a price of three cents...they have sold us all down the river at this point when they came with the big issuance not realizing the heavy dilution it would cause. i figured the earning on the first financial report to represent roughly a thousandth of a penny per share earnings based on the float and I'm sure others have also.At this point we can all wait and see...picked up some more wed morning at .032 and .035 and it looks like I overpaid again...lol
I don't understand, why authorize shares and then buy back a couple months later? I thought their whole point of authorizing the 5bil was for future business purchases and adding value through building assets and funding every day activities. Cover up a mistake? Just asking. My point about the New Zealand news of the country being forced to go tobacco-less is a negative for SFIO since it is directly pointing toward SFIO's old E-cig company and not a positive for the new SFIO. 11,000,000 shares traded today, the most since who knows when and the PPS down 20%. The last three days starting on the 8th, the New Zealand Gov has been in the news trying to make the Country SmokeFree. I'll stick with cleaning the house of the old sfio. I would run from sfio today if I didn't already know the progress of the new SFIO and that SFIO has nothing to do with selling Tobacco. A large amount of traders are new and do not do enough DD to just say hey that smokefree New Zealand news doesn't belong or have any meaning for the New SFIO.
If I'm a newbie and plan to buy SFIO, the first place I will go for DD is the OTCMARKETS.COM and here is what I will find. This is why I think they(SFIO) need to clean the house. With what New Zealand is doing to make the country tobacco-free and this news gets placed under SFIO smokefree innotec is not good for the PPS. Below is what people find on the otc about sfio.
OTC DISCLOSURE & NEWS SERVICE Smokefree Innotec, Inc. Announces Latest Distribution Contracts In Australia And New Zealand Press Release | 08/07/2009 Nashville, TN – August 7th, 2009 – Smokefree Innotec, Inc. (symbol: Pink Sheets - SFIO) (http://www.sfio.us or http://www.smokefree-innotec.com) announced today that it is signing distribution contracts with Bryan West, Ltd. for the world's first completely smokefree electronic cigarette in Australia and New Zealand. The company's lawyers are completing the paperwork facilitating soonest launch "down under".
Bryant West, Ltd. CEO, Brendan Jackson is "totally excited about the product and moving ahead with Smokefree Innotec, Inc. The distribution agreement is being completed as we speak and we are eager to introduce Real Smokefree in our markets; where second-hand smoke and health issues are the topic of the day".
Smokefree Innotec, Inc. CEO, Thomas Schroepfer comments, "The populations of New Zealand and Australia are relatively small, but fully aware of the pros and cons of smoking. On top of that; both countries have a highly developed infrastructure and Bryant West, Ltd. is the ideal company to connect us with retail; and facilitate the launch of our product".
About Smokefree Innotec, Inc.
Smokefree Innotec, Inc. is in the business of designing, developing, manufacturing and marketing a hi-tech, smokeless tobacco innovation. Our Patent Pending, odorless cigarette-style electronic device utilizes a liquefied, vaporizable depot of a raw, unmanipulated extract of tobacco. Smokefree Innotec’s products are designed to protect the non-smoker from second hand smoke and all its effects while providing the smoker a way to enjoy a smoke-free cigarette anywhere, including places where smoking is prohibited. Further, our products will allow the smoker to enjoy smoking while not having to worry about the dangers and ill effects of regular cigarette smoking. Please visit our website www.smokefree-innotec.com for more information about the Company and our new product.
And this>>>>> Not Good
SEC Litigation Release Announcement | 06/30/2011 U.S. SECURITIES AND EXCHANGE COMMISSION Litigation Release No. 22018 / June 30, 2011 SEC v. Brian Gibson, Civil Action No. 0:11-cv-61458-WPD (U.S. District Court for the Southern District of Florida) SEC v. Douglas Newton and Real American Brands, Inc., n/k/a Real American Capital Corp., Civil Action No. 0:11-cv-61455-WJZ (U.S. District Court for the Southern District of Florida) SEC v. Donald W. Klein and KCM Holdings Corp. Civil Action No. 0:11-cv-61457 (U.S. District Court for the Southern District of Florida) SEC v. Thomas Schroepfer a/k/a Thomas Schroepfer Baetsen, Charles Fuentes, and Smokefree Innotec, Inc., Civil Action No. 0:11-cv-61454 (U.S. District Court for the Southern District of Florida) The Securities and Exchange Commission today charged three CEOs, their companies, and two penny stock promoters with securities fraud for their roles in various schemes to manipulate the volume and price of microcap stocks and illegally generate stock sales. The schemes featured illicit kickbacks, a bribe to a purported corrupt broker, and the creation of a website to deliver e-mail blasts to potential investors.
The SEC worked closely with the U.S. Attorney's Office for the Southern District of Florida and the Federal Bureau of Investigation as the separate schemes were uncovered through an FBI undercover operation. The operation was conducted in such a way that no investors suffered harm. The U.S. Attorney's Office today announced criminal charges against the same individuals facing SEC civil charges.
According to the SEC's complaints filed in U.S. District Court for the Southern District of Florida, most of the schemes involved the payment of kickbacks to a purportedly corrupt pension fund manager, in exchange for the fund's purchase of restricted shares of stock in the various microcap companies. Another scheme involved a bribe that was to be paid to a purported corrupt stockbroker who agreed to use his ability to buy stock in his customers' discretionary accounts to purchase a microcap company's stock in the open market. What the insiders and promoters did not know was that the people with whom they arranged these illegal transactions were actually undercover FBI agents or confidential sources participating in an undercover operation. A final scheme involved a stock promoter who created a website to tout a penny stock company through a volley of e-mail blasts and who posted phony testimonials from fake investors. The defendants reside or are based in South Florida, California, Texas, and Nevada.
These charges follow a series of cases filed in October and December 2010, in which the SEC charged more than fourteen penny stock promoters and their companies with similar stock manipulation schemes.
The SEC alleges that the company officers and a promoter in most of the schemes understood they needed to disguise the kickbacks as payments to phony consulting companies, which they knew would perform no actual work. They also knew the purported corrupt fund trustee would be violating his fiduciary duties to his clients by taking part in the kickbacks. In other instances, they knew that their illegal activities were meant to artificially inflate the companies' stock price.
The SEC's complaints allege the defendants violated Section 17(a) of the Securities Act of 1933, and/or Section 10(b) and Rule 10b-5 of the Securities Exchange Act of 1934. The SEC is seeking permanent injunctions and financial penalties against all the defendants; disgorgement plus prejudgment interest against the defendants who received ill-gotten gains; and penny stock bars against all the individual defendants.
The SEC acknowledges the assistance and cooperation of the United States Attorney's Office for the Southern District of Florida and the Federal Bureau of Investigation, Miami Division in investigating these matters.
SEC Complaint in this matter against Brian Gibson
This is the (stuff) that needs cleaned up, brake the slate, clean the slate. It's straight from the OTC. I can't make this stuff up. This stuff and the crap about making New Zealand tobacco-free does have a negative effect.
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