ClearVision announces today that it will be launching at Cleveland Hopkins International Airport. We believe that makes 4 so far (per here). Mr. Samblis has stated previously that when the company reached the 5th airport his company would be profitable on the deal. Although no one knows if the profitability part of his statement is correct… it appears the part about the number of airports on-line by the end of the year is not. The number of airports statement appears to be another truth fail.
Granted, perhaps back in March Mr. Samblis was speaking to the best of his knowledge at the time, however, now we have more information about other aspects of the deal that appear to be less than accurate, or truthful as some may say. Now we have the ability to look at several statements in total. We liken his statements about the deal to Obama’s statements on being able to keep your health care plan…PERIOD! Did Mr. Obama know the truth at the time, or was he using the best information he had available to him at the time. Some say Mr. Obama MUST of known it was untruthful, as it was his signature piece of legislation, and as such he would want to be intimately involved with the important aspects of it. We feel the same concept applies with Mr. Samblis… the ClearVision deal is his signature accomplishment, as Mr. Samblis has said as much in various posts and statements along the way. So… did Mr. Samblis know the real truth?
Look closely at the Clearvision release linked above. You will notice that the content will not be available at the airport until “early 2014“. Since Clearvision is releasing this news today, it’s a fair assumption that this is the next airport to go on-line. If this is the next airport to go on-line, and it will not BE on-line until 2014… its also a fair statement (conclusion) to say, there will be no more airlines coming on-line in 2013…. i.e. there are 3 and that’s it for 2013. So Mr. Samblis’s statement of there being 12 on-line “by year end“… appears to be inaccurate. Not only inaccurate a little… but a lot. Missed the mark by 75%.
We also know now (according to this post) that the amount of revenue Mr. Samblis indicated would result from the deal was apparently way off also. Off by some 90%. Mr. Samblis likely read the many posts referencing the $192K revenue amount, and, responded to some where that amount was referenced, yet he remained silent about the amount… i.e. letting the falsehood remain in investors minds. Fast forward to recently where the above linked post states the amount is grossly overstated… and Mr. Samblis still remains silent. It’s a fair assumption (here again, conclusion) that if the 19K figure were incorrect, Mr. Samblis would have been quick to rebut the figure.
We also know now that this deception is a pattern. If each incident were to be debated by itself, one could make a case that Mr. Samblis deserves the benefit of the doubt. However… when the statements are viewed together, in totality, its plain to see a pattern has developed. There are numerous statements that fall into the category of what many call untruthful. There are also many more instances of where MR. Samblis remained (or remains) silent in the face of repeated questions regarding the many major issues in question, such as dilution, the China deal, failed launch, etc, etc, etc.
So… given the above, it begs the question… what CAN we believe from Mr. Samblis? Well, we can believe the facts, i.e. what events that have happened in the past, we can believe our eyes (as in the case of pictures), we can believe (independently) documented reports, and there is always our gut. Our gut is not scientific… but for most of us it has a good track record of being right.
At this point this company doesn’t need revenue to pick itself up, as much as it needs a truthful CEO. If investors had confidence that the CEO was straight with them, we suspect the PPS would be much higher than .0002 (up from .0001 yesterday). Rich or poor, the worst thing any man can do is squander his integrity.