Replies to post #79086 on SavWatt USA Inc (SAVW)

[garriswh]

are you the one buying up shares lately? SAVW is a complete scam. Don't kid yourself thinking anything else.

[Watson9]

It all depends on how you define "crook".
I can't prove that the CEO broke any specific laws.
In fact he may have operated within the rules of the SEC and other laws, but SavWatt is still a SCAM.
It was created for the sole purpose of selling shares of stock.
There was never any intent to operate a legit LED company; or to open Eco-Hubs, or any of the other claims they made.
The factory in Baltimore was an elaborate ruse.
The machine that was going to coat the bulbs to make them waterproof was a hoax.
The "workers" were brought in from a sheltered workshop for a photo-op and then never paid.
The list goes on and on.
Go back and read the posts from the past.
Especially yoyomama; he figured out the scheme early on.

Don't waste your money here.

[Watson9]

The converting of debt into common shares at a discount to market price is the way SavWatt operates.

Read through the filings carefully;
"During the year ended December 31, 2011 the Company has converted a total of $2,395,865 of debt and $13,647 in accrued interest into 1,401,679 shares of common stock."

"During the six months ended June 30, 2012, the Company issued several short-term convertible notes with a total face amount of $442,329. These notes bear interest rates ranging from 8% to 12% payable in full in twelve months or less and which were convertible into shares of Company's common stock at discounts to market on their dates of conversion ranging from 30% to 70% from the market price. These notes have a minimum conversion floors ranging from $0.04795to $1.918 per share.

[yoyomama]

Greatness.