Another attempted pump ???

Well folks, Mr. Steven Samblis, CEO of IMTV has been quiet lately.  However it’s been a while since he apparently needed some traveling money, and keeping true to form, surrogates took to the message boards to drum up some interest in his company’s stock.  Well… looks like it may be happening again.  Perhaps the wallet is feeling a little thin.  Word is… another push to sell more stock shares is on.  There have been several posts from new aliases on Investors Hub/IMTV apparently trying to entice others to buy the stock.  However, there are longtime Samblis watchers doing their best to try and warn others of their negative experience with Mr. Samblis and his ever changing company names and tickers.

There is another publication that keeps investors abreast of the never ending Pumps & Dumps type of companies, and recently they referenced another ticker and directed readers to a section of regulation in the Ontario Securities Commission.  Link here.  Below is the section referenced. (click to enlarge)

OSC_Disclosure

Of special interest is the highlighted section, wherein it states it’s ability to warn investors of “fraudulent behavior such as an ongoing scam, where non-disclosure would result in losses to investors“.  It would be excellent if our SEC adopted the same policy, as many believe IMTV is a scam (and perhaps currently under investigation), and investors will continue to be harmed.  One only needs to look at some of the recent posts, like here, and here.   It seems pretty clear these are either blatant attempts at drumming up support and sales of the stock, or, these are exactly the type of investors that need protecting as mentioned in the above cited regulation.   It is believed by many that IMTV exists solely to sell shares to support the lifestyle and whims of it’s CEO Mr. Steven Samblis.

Many also believe any revenue generated by the advertising and sales seen on Mr. Samblis’s website is being diverted away from the public company.  In spite of at least some apparent advertising dollars, the IMTV public company reports no revenue over the last several quarters.  One is left to conclude that either the advertising is being given away for free, or, the revenue is going somewhere else.  It is also assumed by many that whatever costs that were associated with generating said revenue, is being run through the public company.  Of course this is all speculation because there are no real audit trail of the flow of cash (similar to the Clinton’s cash for favors scandal currently in the news).  So, if many of the burned investors are correct, they get charged for the expenses, but the revenue goes elsewhere.  Several also wonder if said revenue is being reported at all.  The IRS may not look favorably on something like that.

So… this is a classic buyer beware situation.  As we indicated here, buying IMTV stock is easy, and the 100% swings in PPS look enticing on the surface, but buyers may have an extremely hard time selling those shares when competing with the likes of Asher, who acquired those share at [sub]pennies on the dollar.

Before investing… do your DD !  Five minutes talking to Mr. Google could greatly influence your buying decision !   Previous investors can lead you to the water – but they can’t make you drink !   Which should you trust… a new alias on a message board that pops up every couple of months, or, experienced investors with years of history under their belt with this company ?

Are you being “Gruber’ed” ???

If you are not familiar with the term “Gruber’ed”, a short YouTube video here will provide a little refresher of what the term means.

We are reminded of late about this Obama Administration scandal over health care.  Remember… when they said Obama care was the best thing since sliced bread, AND… every American would see their health care costs go down by $2500.00, and, if you like your doctor, you can keep your doctor… period, etc., etc., etc. !  The American public got “Gruber’ed”.

Well folks… many believe Mr. Steven Samblis, CEO of IC Places, and founder of Imagination TV,  seems to be in high gear pumping his company up via bogus aliases and press releases regarding the fantastic initiatives with his company.  On the surface the press releases sound fantastic, however, when we read the press releases closely, they appear to be cleverly worded to sound more fantastic then they appear on the surface.   Are investors being “Gruber’ed” ???

We touched on this subject here, and again here.  Mr. Samblis is excellent at creative word choice.  Words have meaning, and many times could have several meanings.  Using tactics like this allows for wiggle room, and of course deception.  Don’t be fooled, i.e. don’t be Gruber’ed.

Keep in mind when you read these press releases… according to the SEC, “material events” must be accompanied with a form 8K.  Mr. Samblis has said many times that he complies with the SEC regulations.  So… if some company event is “material”, it stands to reason Mr. Samblis would follow SEC regulations and file a form 8K detailing the initiative.  So… given that Mr. Samblis has not filed any 8K’s over these recent press releases… it also stands to reason… the initiatives are not “material”, i.e they are not important, or Mr. Samblis would have filed an 8K.

Folks… it appears, (just like Mr. Gruber), that Mr. Samblis may think the public investor is stupid.  Mr. Samblis may think you are too stupid to know the difference between a valid initiative, and one consisting of a press release that was creatively worded, and primarily designed to deceive investors into buying stock, in the belief that the initiative is real and will be fruitful for the company.

Don’t let yourself be Gruber’ed.  Do your DD.  Research the web to see what percentage of Mr. Samblis’s previous fantastic press releases actually turned into what they said they were going to do.  Keep in mind also… if the initiative being pumped was “material”, it would need to be accompanied by an SEC 8K filing, and to date, none of the most recent have.  So… even Mr. Samblis apparently doesn’t think these new initiatives are “material”… then why should you !

Beware of the snake-oil salesman !

Folks… take a look at the below two posts.  This is EXACTLY why we produce this blog.

Erodriguez1Erodriguez2

CEO’s that see posts like these, likely salivate, get aroused, and probably pleasure themselves when they see posts like this.

CEO’s that do reverse split after reverse split, name change after name change, have failed initiative after failed initiative, and fail to produce revenues and/or return on investment for their investors, are praying on good folks like this poster.  They are no different than any other predator or common criminal, in that they take hard working folk’s money and give them nothing in return except heartache.

Good CEO’s don’t ask for your money upfront.  Just like a good contractor or service provider that has confidence in their work doesn’t ask for money up front, because they know they will provide you with the goods or services you expect.

Good CEO’s produce first, then promote their results.

CEO’s that rely on novice and gullible investors who fail to do the necessary simple research  to see a CEO’s past performance (like this), and who ignore history when making investment decisions, are just the type investor that enables bad CEO’s to continue praying on other novice investors.   Invest with your head… not your heart !

Unfortunately, more good, honest, and sincere investors like this poster will fall prey to the underhanded actions of bad CEO’s.  Folks… it’s sad, but true… there is evil in this world !

Perhaps we can’t save every investor from falling prey to bad CEO’s… but we will never stop trying !

Who’s behind the curtain ???

So… yesterday, BZippy gets the boot from Investors Hub, IMTV board.  Today… a brand new alias shows up, HouseSmith, and starts posting grandiose promotional posts about Mr. Steve Samblis and the great initiatives of his company.  Hummm ???

BZippyBoot2   BBZippyBoot_4

Now what’s an investor to think???  Could it possibly just be a coincidence that mrighttrade, dotd ,zurich, Bzippy,  FLWright , SunTzueyes, and of late, HouseSmith all have all followed the same pattern of posting?   Could there really be this many people that are so happy with their investment that they feel the need to come on the IMTV message board to strongly promote the company? 

Does anyone think these aliases are anyone other than Mr. Steve Samblis himself?  Many believe it is in fact Mr. Steven Samblis making these posts.  There have also been many who have commented about the differences in the posting behavior of what they strongly believe is Mr. Samblis, and that of Mr. Joseph Collins.  It is clearly evident that Mr. Collins does not hide behind a bogus alias when he posts on a message board.  In fact, Mr. Collins has done two “on the record” interviews with us in the past.  Many think this is the proper and professional way to face investors.  How long has it been since Mr. Samblis has faced his investors.  Perhaps long before the reverse splits that wiped out the investment of many investors.

Folks… do your homework on Mr. Steven Samblis, and the history of his performance as CEO of his companies, before making an investment decision.  There is plenty of information available with a simple Google search.  Many have thought they could make a quick buck in flipping stock like this, only to learn later they are competing with the likes of Asher trying to sell those shares later.  Shares are very easy to buy, but you may find them extremely difficult to sell because the competition for buyers is so overwhelming.  Remember… shares being sold by someone who may have acquired them through converting debt into shares, has purchased them for far less than the retail buyer could ever hope to pay.  They can undercut a retail seller every time.   If it is indeed Mr. Steven Samblis posting incognito on a message board as many believe…that’s a REAL BIG red flag.  Can you think of any other CEO that does that ?  And… WHY would a CEO do that ?

Rate the performance of Steven M Samblis !

Seems as though the CEO of IC Places Inc, and IMTV Founder Steven M. Samblis is trying desperately to save a company that appears to be not savable under the current leadership.  Take a look at the below graphic (click to enlarge).  The chart represents the performance results of IC Places, Inc. under the current leadership of Steven M. Samblis (adjusted for reverse splits).  This type of performance is likely one for the record books.  And when you couple this performance with the millions and millions of dollars of investor funds poured into IC Places, Inc. it just boggles the mind to think one man could be responsible for this type of performance.

SamblisStockPerformance

Recently, investors are seeing more of the same promotion that caused many initial investors to lose big on their investment dollars, believing these recent type promotions like buying another company, and exclusive deals with broadcast rights, new shows, etc., etc., etc.  would increase the PPS of the stock.   What did that belief get them… a stock PPS that fell like a rock in a vacuum.  After 2 reverse splits of the stock in 2014 alone (4 total since 2007) the PPS closed yesterday at .0005.

Below you can see an excellent post by Meadow2009 which seems to recap the company status pretty well.  Looking at this post, coupled with the company’s past performance, it just boggles the mind how anyone could have confidence in this company, and it’s CEO, Mr. Steven M. Samblis.

MeadowPost_CompanyStatus

One must ask themselves… how could this be?   After the millions and millions of investor dollars that have been poured into this company, how is it even possible for a CEO to squander millions trying to run a company, only to have the PPS perform this bad.  AND… on top of that, the company has not reported any revenue in about 2-years.  ZERO revenue… how is that even possible ???  That apparently means that whatever effort, and whatever amount of investor money spent pursuing return on investor funds… resulted in ZERO revenue.  That seems either impossible, or, something else is happening with either the revenue, or, the reporting of it.

Folks… view the latest round of promotion with a skeptical eye.  Do your homework !  If the past is any indication of the future, the results from the current promotional efforts will likely return the same results.   And remember… consider the data in Meadow’s post above regarding the potential shares that will be sold into the market as a result of the financing agreements and employment contract currently in force.  WOW… scary !

Big news… or, maybe not !

Well folks… Mr. Steven M Samblis, CEO of IC Places, Inc. has released 2 new press releases in the last few days.  In one PR he promotes the benefits of buying another company.  In another PR he promotes a deal signed with a cable company to air shows from Imagination TV.

Now normally one would think these are significant deals Mr. Samblis has struck, however, since he has not filed an SEC 8-K document, which (see graphic below) as the SEC states “companies must file with the SEC to announce major events that shareholders should know about.”… these agreements must not amount to much.  If they were significant, or “major” as the SEC defines it, the events must be made public via an SEC 8-K.  Since there has been no filing, the events must not be significant, or “major” as the SEC defines it.

SEC_8K_RequirementsAs can be seen in the below message board post, MilesBlue42 has the same questions about a long line of previous press releases.  MilesBlue42 asks, as well as all other shareholders (and potential shareholders) should be asking… WHY has there been no SEC 8-K filings on any of these, what many would call, “major” events???

MilesBlue42_012915PostNow the SEC seems pretty clear on the subject of releasing major events via an 8-K filing, but even if the event would be in the grey area for rising to the level of a major event, why would Mr. Samblis not file just to eliminate any possibility of running afoul with the SEC.  WHY ???

One would think buying another company rises to the level of “major”.  Why would Mr. Samblis not file an 8-K on that initiative???   And… WHERE is the money coming from to buy the new company ???   IC Places has not reported any revenue in quite some time, perhaps as long as 2-years.  Yes, some company purchases are based on stock swaps, but certainly the new company would have done their due diligence in researching the value and history of the company they would be accepting stock in lieu of cash from.  Many potential investors would likely run like a scalded dog from IC Places stock when they see the history of the company and of it’s CEO Mr. Steven M Samblis.  If 4 reverse stock splits, (and the last 2 of which were done within a year of one another), and, the stock PPS now sits in the tripps… doesn’t scare any investor, we don’t know what would.   Why would any company accept this stock for payment ?

Don’t be fooled folks… do your research on this company, and it’s CEO, Mr. Steven Samblis.   Spending five minutes on Google should give you all the information you would need to make a sound investment decision.

Where’s the money ???

So… investors gotta ask themselves… where’s the money coming from???  The company hasn’t shown any revenue, (let alone any profit), in well over a year, yet there appears to be plenty of money for lawyers.

JustiaTrademarkApplication

Check this out… Mr. Steven M. Samblis is spending even more money on attorney fees chasing his narcissistic fantasy of his name being a trademark.  Even if it would be granted… what does that do for the company relative to revenue and profits ???   Are people going to flood his website for motivational videos because his name is trademarked ???  Sounds like this is more about his narcissistic driven ego than a quest for revenue and return on investment for investors.

Will the company ever do better than its doing when decisions like these are driving the direction of the company ???   We wonder how much of investor funds are being thrown at this effort ?  Shameful and embarrassing in our opinion.

More deception ???

So, since the UDRP decision (details here), deciding in favor of Friends keeping the sites in dispute… Mr. Steven M. Samblis, CEO of IC Places, Inc. has created a new website bearing his namesake.  We have viewed the site, and have to say up front, as sites go, it’s not a bad looking site.   We have said before that Mr. Samblis can build a decent looking site.  We are not taking that away from him.

However, it appears Mr. Samblis is attempting to mislead viewers (investors) yet again.  We are referring to the references to his name being a “tm”, trademark.  Pictured below are the instances from the site we reference.

SamblisTM_6    SamblisTM_7

SamblisTM_3

Now… we (and likely everyone else) could really care less if Mr. Samblis says his name is trademarked or not, but the larger picture here is the fact that apparently he feels the need to mislead visitors to the site.  As many readers of this blog know, Mr. Samblis was unsuccessful at his attempts to force his will on Friends to get our sites.  Readers will also know that Mr. Samblis needed to prove three aspects in order to prevail.  If all three are not proven, the attempt is unsuccessful.  The very first issue Mr. Samblis needed to prove was the issue of trademark rights.  Namely, Mr. Samblis needed to prove he had rights (common-law or otherwise) to the professed trademark of Steven Samblis.  The arbitrator (an attorney) who decided the case was of the opinion he did not prove such (and therefore did not need to decide on the other issues).  See the excerpt below.

SamblisTM_5

Quoting from the decision as seen above… “Based on the Complainant’s contention and evidence submitted, the Panel finds that Complainant has done an insufficient showing that STEVEN SAMBLIS is a trademark protectable and prosecutable under the UDRP and determines that Complainant has failed to illustrate rights in a mark under Policy ¶ 4(a)(i). See Yao Ming v. Evergreen Sports, Inc., FA 154140 (Nat. Arb. Forum May 29, 2003…”.

Friends did a quick check on the United States Patent and Trademark Office website (here) and found only these 2 registrations, and they are both listed as “dead”. Of course there is no registration of the name, Steven Samblis.

SamblisTM_1

Additionally, as Friends referenced in their response regarding the use of a personal name as a professed trademark, the arbitrator makes note of… “Under such view, any human being on earth could claim to have rights in a legal trademark dating back to the first day they started a job—a notion which is not possible under trademark law.”.   See the excerpt from the law itself below.

SamblisTM_4

So… apparently Mr. Steven Samblis is so narcissistic about himself, he needs to aggrandize himself to the public into thinking he is something special that his name is a trademark.  However, obviously the arbitrator held a different view, and, lacking some legal documentation supporting otherwise, we feel the use of the name being a trademark is purely misleading.  According to numerous sources, it is extremely difficult to trademark a personal name.  It is doubtful Mr. Samblis could ever get his name trademarked, and he certainly shouldn’t be misleading readers into thinking it is, especially as the CEO of a publically traded company .  Mr. Samblis… your name is not a trademark just because you say it is.  Prove us wrong and produce the documentation supporting it is.

Debt, Debt, and more Debt !

The long awaited (and long overdue) IC Places, Inc. SEC 10-Q filing has finally been filed.  Mr. Steven Samblis, CEO of IC Places, Inc and ImaginationTV certainly must be proud!

WOW… a quick read of the most recent quarterly filing, seen here, is quite a scary read.  These are just a few of the many items that appeared to jump off the page as you read through the document.

First up… Revenue and Operating Loss.  As you can see by the graphic below (click to enlarge), this is yet another filing (in a long line) that reports NO revenue… not even $1.00.  And… it also reports… drum-roll please… a 10-million dollar operating LOSS !  WOW… sure makes an investor want to run right out and throw some hard-earned money at this company !  One has to ask themselves… what kind of talent does it take to work for 2-years and make no money, and, run up a 10-Million dollar operating loss ???

09_14_2014_10_q_Revenue

Next up… $14,250 wasted on a “late filing” fee due to the late filing of the report.  Must be nice to have that kind of money to throw down the toilet because you were too busy doing something else to get the report in on time.  Oh wait… it’s not your money… it’s INVESTOR money !

09_14_2014_10_q_LateFee

Next up… and you’re going to love this… the Flagship effort of the company of late, namely the ImaginationTV endeavor, was GIVEN to IC Places, Inc for “no consideration“.  As stated in the document, the assets were “given” to the company “given the nominal value of these assets“.    Weren’t investors told that the ImaginationTV effort was going to lead this company back on the road to profitability?  Seems like investors were sold a bill of goods that was, now admittedly, worthless.

09_14_2014_10_q_ImagineTV

Next up… debt, debt, and more debt !  The company issued so much convertible debt, that if/when sold into the market, would exceed the authorized share count (which investors thought was way too high anyway),  by a little over 40-Billion shares.  Yes folks… that a “B” for BILLION !  Wait, what… 40-BILLION over?  How do you miss a hard stop by 10-fold ???  Truly amazing.  It takes a special kind of CEO to accomplish a feat like that !  Way to go Mr. Steven Samblis !

09_14_2014_10_q_Exceeds

As Meadow2009 points out in his post below… that would make the company have a market cap of over 52-Million dollars.  WOW… 52-million for a company who’s primary focus of late is admittedly worth “nominal value“.   Seems like a slight disconnect there, wouldn’t you agree?

09_14_2014_10_q_Meadow2009So folks, there you have it.  Read the report yourself and you will be amazed how any investor could, even in their wildest dreams, consider this company a viable investment.  In fact Mr. Samblis admits in the document that the issues raised in the report “raise substantial doubt about the Company’s ability to continue as a going concern.”.  These are just heartwarming and reassuring words, coming from the CEO himself, that would make an investor run right out and plunk down some hard earned cash for a few shares of the company stock.  Oh wait… a few shares would only cost you about a penny at the current PPS.

Is Steven Samblis a racist ?

Take a look at the following post.  Although it was posted under the alias SunTzueyes, many followers of Mr. Samblis’s postings over the years are absolutely convinced this is Mr. Steven Samblis posting.  Someday if (and we believe when) it’s proven beyond a shadow of a doubt via computer forensics that this is in fact Mr. Steven Samblis posting, the world will know the true character of this CEO.

Samblis_RacistPost

One has to wonder if the derogatory term, used twice in the post, was intentional.  If it was not used intentional, then there appears to be a more concerning deep rooted, and inherent bias involved.

The poster (assuming of course it’s actually Mr. Samblis) will likely respond, defensively, that it is impossible for him to be racially biased, why else would he have partnered with Mr. Collins in the first place.  Well, consider the character of Mr. Samblis overall.  Many say he simply uses people for whatever benefit he can derive from them, then discards them such as has apparently done with investors who were extremely loyal to him in the beginning by purchasing large amounts of his company’s stock.

It’s possible the partnership was based on Mr. Samblis taking over Punch TV, with no intentions of ever letting Mr. Collins have a true leadership role of the company.  It’s clear within the employment contract (details here) that Mr. Collins was to “step up” as CEO in “90 days”, yet Mr. Samblis maintains that Mr. Collins was attempting to take over the company by illegally announcing he was the new CEO.  Look close at the terms of the contract that Mr. Collins released – there are NO contingencies attached to this stand-alone clause of stepping up as CEO.

Folks, you have seen the post, you have seen the contract, you know Mr. Samblis’s history, now YOU need to decide if you believe Mr. Samblis is a racist.  It seems apparent that when Mr. Collins attempted to claim what had been promised to him in the beginning (via written contract), Mr. Samblis apparently turned on him and began to tear him down.  Not only was Mr. Collins of no further use to him, having acquired all his assets, Mr. Collins now became a threat to Mr. Samblis’s ongoing efforts at maintaining absolute control over the company.

Mr. Samblis… if we have this all wrong, please enlighten investors to why such derogatory terms were used in the post.