STOP with the misleading statements !

The stock is at its worst levels it has seen in possibly its history, and Mr. Steven Samblis, CEO of IC Punch Media, Inc. still plays games with words in order to mislead investors.  PLEASE Mr. Samblis… investors have had enough of you cherry picking which softball questions you chose to answer, and being reckless with the truth when you do.

In a post tonight, illustrated below, MR. Samblis responds to a poster’s request to stop the nonsense and answer straightforward (very important) questions being asked of him.  His response, as can be seen below, and at the link here, if it stays posted, is to lash out at the poster disrespectfully.   Since the release of the newest PR, the PPS has fallen another 25%.  Investors have asked some very straightforward questions like… who is president of the company, or how is Mr. Samblis paying for the day-to-day operations of the company.  As can be seen, Mr. Samblis’s response scolds the poster by saying he will not stop posting on the board in order to correct things, like the share structure that was originally in question in one of today’s earlier posts.

Mr. Samblis is quick to reply using the same phraseology as he has used many times before.  However, Mr. Samblis’s canned response does not address the root of the dilution question.  Notice in ALL his responses regarding dilution, he never addresses how he is paying for the day-to-day operations.   He never addresses what (or WHO) is responsible for the ever increasing outstanding share count (although its obvious who is responsible).  He states “he” has not sold a single share,  So… how is he financing the daily costs of running the company?   He may not be selling his “personal” shares… but that was not the question… the question is how are you financing the daily operations.  Don’t tell us how you are NOT doing it… tell us how you ARE doing it.  Everyone knows he is selling shares to operate the company, and it infuriates them to be taken for fools when he states he has not sold any of his personal shares in over a year.

Mr. Samblis hides behind the “basher” excuse, or he hides behind the “in due time” excuse in order to not address some of these very basic, (but very important), questions about the basic operations of the company.   This is inexcusable !   There is NO reason these questions can not be answered, unless the news is so bad it will cause the few remaining investors to flee also, as the rest have already done.  Mr. Samblis likes to blame everyone but the man he sees in the mirror every morning.   This company’s future is bleak unless Mr. Samblis changes his ways… and that appears unlikely to happen if it hasn’t happened already.  As they say… a leopard never changes its spots.

 

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Is PNCH imploding ???

Currently… in our opinion… yes.  However, we believe it could all be turned around if the CEO would do his job and talk about the company – where its at, and what plans and actions are in the works.  Will he do it… doubtful.  He has kept silent except to post a few times on a message board, but as we discussed here, nothing NEW was discussed.

The stock PPS is sitting at a 52-week low right now, and likely to go lower if something is not done.  It appears as though the CEO, Mr. Steven Samblis does not care about investors.  Note we said “appears” to not care.  We believe he does care, but, we believe, he is currently making a huge mistake by maintaining his silence about company plans and actions.   He stated in a previous post, here, that “Everybody is [working] 24/7 over here…”.  We have no doubt he and the “team” are working hard, however the investors need Mr. Samblis and the team to work SMART also.  It simply not a smart move to sit quietly while the company PPS falls to earth.  Many potential investors will focus on the 52-week low, and lose sight of the 52-week high of 6-cents a share.  It is obvious this company has potential, but the management is not stepping up to the plate and capitalizing on the potential.  WHY we ask ???   Why would a CEO (and management staff) sit idly by and watch the PPS fall to the ground, causing potentially irreparable harm, and do nothing to stop such?

Mr. Samblis… please PLEASE stop the hemorrhaging.  Step up and address some of the questions that are preventing this PPS from moving forward.  Do you seriously think you could ever hope to attract serious investors down the road with so many unanswered questions,  and controversy surrounding important issues like…  why the abrupt turnaround and capitulation to Collins, the unaddressed questions surrounding your new President, share structure, revenue generation, and overall vision and direction for the company now that its divested of PunchTV?

Mr. Samblis… here is a very simple question… is what you’re doing, working?  There are 2 actions that have synergy… your silence on the above referenced issues, and the ever falling PPS.  If there is no change in both of these actions, we believe, all your hard work will be for naught.  Unfortunately, YOU believing in VU Media is simply not enough… you need investors to believe in the company.  To date, post PunchTV divestiture, you have not given investors any reason to believe in the future of the company as you do.

You may be working hard Mr. Samblis, but someone once said… if hard work was the avenue to prosperity… laborers would be the richest people in the world.