Rate the CEO’s performance !

Is the CEO’s performance, as represented in the below graphic (click to enlarge), (excerpted from the most recent 10-K report here) worthy of the title of The Worst CEO Ever ???  They say, even a blind squirrel finds a nut once in a while, but apparently this CEO, after having spent millions and millions of dollars of investor funds (3.25 million this year alone), doesn’t seem capable of making decisions that result in even $1.00 of revenue.  HOW is that possible. Could such even be duplicated in some sort of business simulator by a professional ?


We are not talking about “profit” here… we’re talking “revenue” !  Even if you buy a widget for $10.00, and sell it for $5.00, aside from not being to smart to sell it for $5.00… you still have “revenue” of $5.00.  Again… how is it possible that there is NO revenue… not even a dollar !   Is Mr. Steven Samblis, CEO of IC Places, Inc. running the advertising that can be seen on the IC Places website for FREE ???   Is he not making a dime from the Prescription Discount Card program, or not generating ANY revenue from the VU Television (now DriveIn Television) effort ???   Really… HOW is that possible ?   Can anyone put forth a scenario in which this could be possible ?

OR… is it possible revenue IS being generated, but its being recorded outside of the public company?  Is there more to the “Strategic Partnership” than investors are being told ?  Mr. Samblis has said that the public company “manages” the other business divisions, but it doesn’t appear that this “management” contract and/or details have even been publicized.  Could it be that NO management fee is being paid (or perhaps charged), yet these divisions are generating revenue ?

In the entertainment business Agents manage entertainers, and those entertainers make money (generate revenue).  It would be possible, (unlikely, but possible) that although an agent “manages” the entertainer… he/she takes or accepts no management free for their efforts.  An example may be, a parent manages his/her child, and although they would perhaps be entitled to charge/accept a fee for such, they chose not to.  Nothing illegal about not accepting a fee for your efforts… in the right circumstances.

What are YOUR thoughts?  Perhaps you have an explanation of how its possible for the public company to record NO revenue for a full years efforts, while its plain to see advertising being displayed and business appears to be being conducted.  As many say… this just doesn’t pass the smell test !


Name change… AGAIN !!!

Yes folks… looks like yet another company name change is in the works.  Only this time the name appears to be going back to the previously used IC Places, Inc., and it appears to have the word Network attached to it this time around, as well as sporting a new color scheme (red).  Will there be another ticker symbol change ?  Will it go back to ICPA ?  The name change has been confirmed by Mr. Samblis himself on the IC Places Facebook page as can be seen by the graphic below (click to enlarge).  The 22 hours ago references 2/13/2014.


Also interesting… take notice to the copyright notice that now appears on the IC Places website (graphic below).  Notice there are none of the previously listed shows.  At one time Mr. Samblis advised message board readers to view this area for assurances that he still maintained ownership of the listed shows.  Could this mean that Mr. Samblis now has lost the rights to all the shows previously listed in this spot?  (remember folks… EVERYTHING means something ! )


Now… one might ask… what prompted this name change (at this time) back to the previously used IC Places?  Let’s see, possibly related to any pre-trial arbitration meetings maybe?  As everyone knows, after the Punch breakup Mr. Samblis insisted he owned the Punch name (and related assets)… but that was before he said they were poison and suing to get them back was a waste of time and money because Mr. Collins was “judgement proof” because he was broke.  But… all that was before he most recently tried to float the idea that he was actively suing Mr. Collins again to get the assets back (which of course included the Punch name).  WOW… talk about flip-flop !

So… the latest version of the story is… the company’s name will change back to essentially what it was before the Collins/Samblis merger.  So what happened to all the flamboyant statements and innuendos about getting the Punch assets back?  Does this mean Mr. Collins won ???  Kinda looks that way.  The short story looks to be… they merged, they broke up, Mr. Samblis said he owned the Punch assets and name after the breakup… and now Mr. Samblis is changing the name of the company back to what it was before the merger.  Check back tomorrow folks… maybe there will be another version yet to come.

AND… continuing the questions on revenue.  To date, there has been no explanation on the accounting of any revenue generated from any of these new endeavors that have come to light lately.  There will be those who do not question anything Mr. Samblis does, i.e. follow blindly anything and everything he does… however then there are the more rational and logical investors that dare to question just what the company is doing with their invested dollars.   As we questioned in our post here, where is the revenue being recorded.  It is inconceivable that within ALL of Mr. Samblis’s efforts, Clearvision, IC Places website, etc. not $1.00 of revenue has been generated over the last several reporting periods.  Look at the last few SEC filings related to revenue… not $1.00 has been recorded as flowing into the coffers of PNCH.  How can that be ???   And remember… we are not talking about “profit”… we are talking “revenue”.  If you buy a widget for resale and pay $10.00 for it… and you sell that widget for $8.00… you have a negative “profit” of $2.00… BUT… you have revenue of $8.00.  So even if Mr. Samblis is not making a profit on running advertising, and/or not making a profit on the Clearvision deal… where is the REVENUE from those actions ???  Could it be that the revenue is being accounted for in another one of his non-public companies… and only the expenses are being run through the public company???  Either Mr. Samblis is the worst business man alive in not being able to generate even $1.00 in revenue for the vast amounts of investment dollars the company has squandered, or, the revenue is being recorded somewhere else.  Of course there is always the possibility that revenue is being generated but is not being recorded anywhere… but that would be even more reckless than diverting revenue for personal gain.  The IRS and the SEC does not have a sense of humor when it comes to defrauding the public by failing to report earned revenue.   One has to question…why the secrecy surrounding revenue ???

Remember… EVERYTHING means something !


4 more days to go.

Yes folks… only 4-more days to go before the “World Launch” of VU Television Network.  Stock was up 28% today on a little less than normal average daily volume.  And at one point during the day the PPS actually got out of the tipple zero’s.   Funny how many are getting excited to get back to .001.  It would be like gas getting back to say 2.99 a gallon.  Everyone would be so happy, but you know in reality 2.99 is still a lousy price.

The BIG question is… what is Steven Samblis, CEO of IC Punch Media going to do before the launch???  4-days before the launch and no one has seen a broadcast schedule, slate of shows other than the few that were announced over a month ago, who the advertisers are, revenue projections, where the content can been seen other than FilmOn, etc, etc, etc.  Either there will have to be a 10-page Press Release on the 22nd., or, we have seen all we are going to see until AFTER the launch.  The business plan so far has been to not release anything for fear the bashers will do something to derail the plan.  Well… if the relationships have not been solidified by now, investors are in for some more pain.  And what about fear that even after the launch, the bashers will attempt to derail the plan?  Maybe Mr. Samblis should never release the plan… that way the bashers could not derail something no one knows about… even the viewing public.  Sounds crazy we know, but so does the plan to have not released anything even this close to the launch date.  Well… the remaining investors have waited this long, and tolerated Mr. Samblis’s  actions (and non-actions) for this long, what’s 4 more days.

Now, what will happen to the PPS 5-days from now???  That’s the big question.  Answer… likely nothing.  Why… because of all the shenanigans that have transpired up to this point.  There are still too many unanswered questions that will likely remain unanswered LONG after the launch, and are likely to go unanswered forever.  If the PPS withers and dies, there is no need to answer the questions… and if the PPS goes sky-hi, there will be no reason to answer the questions.  Does anyone really think that there are any potential investors that have not seen the numerous problems with PNCH?  Are there any investors out there that will think Steve Samblis is CEO of the year once they spend more than 5-minutes doing some DD on PNCH history?   And finally, does anyone think the bashers will not be hammering away after the launch about PNCH and its CEO Steven Samblis?   As much as any remaining investors wish the best for PNCH… the past will always be nearby to bring concern to any potential new investor.  The only thing that can blind most investors is money !  If PNCH can demonstrate it can produce tons on cash for investors, investors will invest and disregard all the red flags that they would normally be fearful of.  However, it will likely be a year or more before that kind of cash starts rolling in… if ever.

So… as much as current investors wish it, all current indicators point to Launch day likely being lack luster at best, and not doing too much for the PPS.  We hope we’re wrong, but the handwriting is on the wall.


Hard-core basher… or sick individual ?

A pro-PNCH poster posts this on LieHub:

“Why don’t we all talk about what we will do after the Launch and everyone is making money ? Wouldn’t that be more fun to do than talk negative stuff all the time ?”

And the response from a poster on LieHub replies:

Hell no! Taking Steve down is fun. It’s the same reason American greed is one of the most loved shows. We gawk at the audacity and we cheer the demise. Here we actually get to help the good guys bring this bastud to his knees. I for one love it. I had no idea until a scam became so cocky as to steal through open forums from the one he sees so beneath him. He’s a 2 bit cocky thief! That’s it. He needs to be stopped. It’s my duty as a law abiding tax paying citizen to help all I can”

Now… just reading this should give pause to every “law abiding tax paying citizen” thinking that there are people like this walking around on our streets.  This poster is just sick.  It gives you a feeling for the mentality and motives of their postings on LieHub (and we suggest this person is not the only one).  This poster should be banned permanently from LieHub.  LieHub is a misrepresentation of what a message board should be… but this post should be concerning to even them.  By not deleting this post, and permanently banning this individual (or anyone who posts like them), they are in fact supporting this behavior.

What does this say about LieHub that they allow this post to stand?  What it says is obvious… they exist to destroy PNCH and its CEO, Steven Samblis.   In our opinion there is a difference (a BIG difference) between posting one’s negative opinion about a company, and posting trash like the above.  It’s obvious the poster, and likewise LieHub, will stop at noting to destroy this company.  Every tool at their disposal is on the table for use… including lying, misuse of factual data, character assassination, and venomous personal attacks.  We previously posted a related article here on the subject.    And here are some must-read articles and links about LieHub themselves.  Be sure to click the 3rd link from the bottom as it will illustrate that others feel the same way we do about the fraudulent activity  on LieHub.

So… the moral of this story… visit LieHub at your own risk, and understand that:  a) most of what you read over there has been censored (i.e. the pro-PNCH postings have been deleted), and b)  what remains is a blatant attempt to mislead you and to try to turn you against the company, and the CEO, and c) a colossal waste of your time, because it is very unlikely they will change anytime soon.  LieHub survives and prospers by page views (and selling advertising based on the number of page views they get).  Even if you don’t post there, and simply go there to read the basher’s garbage… you are in fact helping LieHub continue to prosper.  Want to do your part in helping to send them a message that you don’t support their biased and fraudulent activity… stop going there and adding to their page views.  Hit them where it hurts… in their pocket book.  Maybe when LieHub (the company) understands the viewing public will not support their actions, they just might think about changing…. doubtful, but maybe.



Some quiet time…

The stock ( PNCH ) has been trading sideways for almost 2-months now.  Around the beginning of May the PPS was at .0026.  This past Friday it closed at .0016.  In our opinion, this is a very poor showing for a company getting ready to (re)launch into TV broadcasting.  There have been many missed opportunities.  One can only imagine where the PPS would be today had those opportunities been taken advantage of.

There have been some recent (mid to late June) press releases about new shows acquired, and also notice of a strategic affiliation announced, however those efforts failed to move the PPS north.  Its been well over a week now with no new news.  Also noticeably absent are any plans for general public notification of the impending launch of the new network, VU Television.  We would have thought there would at least plans for some sort of awareness/launch party similar to what was done (the “UpFront” gala) held when VU Television owned the other broadcast company Punch TV.  Events like these are not created in a week.  There are venues to be reserved, catering to be contracted for, notices to go out so that attendees can reserve time on their schedules to attend, etc, etc, etc.  Will the company wait till the last minute to throw something together haphazardly, or are they just keeping quiet about any plans.  Of course there are actions to keep under wraps until the right time… however an awareness campaign or event such as a lunch party is not one of them.

There has also been some controversy of late.  The CEO, Steven Samblis, published a photo on his Facebook page of what appeared to be him driving home in his car… a Bentley !  See it here.  Now, as of this writing, the picture has been removed from the Facebook page, but is still available at the link above.  Now, to be fair and balanced, there was never any comment from the CEO, Steven Samblis, that the car was his.  In fact we could find no comments by him about the picture anywhere.  However the caption read “Pulling up to the homestead for a brief interlude – at Casa Samblis Resort and Salon“.

The Bentley… its concerning, but there is not enough information to draw any conclusions, like… is it his, what’s the value based on year and condition, etc.    Yahoo Autos has a Rolls Royce for 26k, so in this case a picture is no indication the CEO of a company investors are underwater on, is living high on the hog as they say.  Having said that… we would sure like to know more details about the picture.

The picture could have been posted to cause controversy with the basher crew over on LieHub, this would be consistent with previous actions by the CEO in an attempt to increase traffic, and eyes, on the company.  However, we feel the posting of this picture, and the absence of an explanation, was simply poor judgment.  Although the action may have caused the intended controversy, it also created a huge red flag to underwater investors.  If the Bentley is his, and is worth what Bentleys are customarily worth,  it shows blatant disregard for investors who are currently losing money on investing in him, and his company.   This picture needs an explanation !

The second piece of controversy was the CEO’s posting of information about a well known basher.   The post we reference can be seen here.  Overall, there seemed to be a negative reaction to the post by current investors, such as this one here.  Some believe that while the information was an indication of the CEO’s efforts to combat the misinformation and outright lies being posted by this individual, they also believe that the CEO’s time would be better spent posting factual information in response to the many questions investors have about the company, and its plans moving forward.  The CEO has not posted in quite a while, and the first time he does, its an attempt to incite more anger within the basher community.   We, as well as the poster referenced above, feel that any attempts to silence the bashers simply increases their dedication to destroy the company, and maybe more importantly to the bashers, the man behind the company.   The bashers over on LieHub are hard-core !  Nothing short of legal action will stop them.  The best defense against them is to ignore them.  They will not go away, but at least they will be forced to engage themselves, and by doing so, anyone visiting the LieHub site will see how no one pays any attention to them, i.e. rendering them ineffective.

Mr. CEO… you may want to rethink your efforts at creating controversy to promote your company.  You may want to think about simply responding to investors questions in a straightforward manor, and with sincerity for the current losses they are experiencing under your leadership of the company.  The truth will never let you down !  Sometimes taking responsibility for the truth is difficult, but earns you respect and loyalty like nothing else.  This was a post about missed opportunities… have you seen any lately?


Will VU Television succeed in spite of…

That IS the big question !  Will VU Television Network succeed in spite of the CEO’s ( Steven Samblis ) personality ???

Now some may say yes, and point to the side of his personality that is able to influence others around him to believe in him.  However, there are others who say no, and point to his abrasive and antagonistic actions to those that don’t fall in line and simply blindly believe in him and his vision and dreams, or, question his actions and in-actions in running the company.

Case in point is a post on Investors Hangout which questions his people skills when dealing with investors.  See it here.  And a follow up here.  And then Steve responds here by saying he will “deeply consider everything” said.

Now, lets fast forward to today, when a poster comments on Steven Samblis posting over on LieHub (which he said he would never do, and for them to delete his account over there).  See the post here.  Now granted, the post is somewhat harsh, and perhaps not accurate, however Mr. Samblis’s response seems to be right back to to his habitual abrasiveness that he indicated he would try to correct.  He followed up a few posts later, and if you follow along starting at his reply linked above you can see his responses.  We report… you decide if the reply was harsh.

Although many enjoy the CEO of the company they are invested in coming on to the message board to communicate activities with the company, it appears some (and some may say many) of his responses are less than professional.  Some say if he can’t respond in a professional manor as the spokesperson of the company… he should refrain from posting at all.  Although at one time we believed the unprofessional responses were just the price to pay for the bits of useful information… we now think the price is getting too high to pay for the little information currently being provided.

We believe the alternative would be for the CEO to either hire a professional spokesperson, or, limit his dissemination of information to formal press releases… i.e. stay off the message boards if he can not respond in a professional manor.  We are not sure who writes the press releases, but we feel the press releases of late, and historically, have been very professionally written, and serve to proudly portray the company in a professional manor.

Tell us what you think.  Post your thoughts on the subject by clicking the “Leave a Comment” link at the top-right of this article.  Tell others that you agree or disagree, and tell them why you agree or disagree.

Also, if you found this site in your search for Due Diligence investment information on the company, you might find it useful to visit our website.  There you will find news and information all in one spot.


Its been a good week…

Maybe the PPS doesn’t reflect that its been a good week, but the multiple press releases regarding the new shows certainly do.  The bashers will call it pumping, but its just good business to tell the world what’s happening.  See the press releases here, here, here and Steve’s post here.

A reminder about bashers… they have been incredibly active lately on the topics of reverse split and dilution.   If you happen to visit the LieHub site you will see that just about every other post mentions these subjects in a negative way.  If you want to test the validity of their content, simply post a reply asking for supporting documentation of their assertion.  We predict they will either ignore your question, or they will pivot to another subject (or of course your question might get deleted as “off-topic”).  Why… because as with ALL their posts, they contain hollow scare tactics right of of the Bashers Handbook.   Their motives are clear and unmistakable… their life revolves around an attempt to ruin the company, and destroy the CEO Steven Samblis.  With most bashers its just business, however with the bashers on LieHub – its personal !  They have an obsession with Steven Samblis, and lies and distortions of the truth are simply a means to their desires.  They are going to need some serious meds once the PPS recovers and finds its true value.

OK… back to VU Television Network.  Although these new shows that were announced this week are largely unknown presently, they offer viewers an opportunity for uniqueness in programming choices.  Not everyone likes vanilla flavor ice cream, so providers of products offer choices.  When the fall arrives just watch the major network commercials for new shows.  Some of these will be hits, and some will be misses.  Some of the most watched shows on the major networks were once brand new shows, with unknown actors.  If selecting hit shows was a science… every show would be a smash hit, but its not.  As a broadcaster its trial and error, as no one knows what will be a hit and what won’t.  It remains to be seen if the management group at VU Television have chosen shows correctly.  From what’s been announced so far… we think they are on the right track.

If you are new to the stock and want to do your due-diligence, visit our website here.  There you will find tons of documentation about the company.  The page linked just above is listed in chronological order by date, with the newest content at the bottom.  Feel free to browse the other areas of the site also… we think you will find it beneficial.  Beneficial not only for the material there, but as a reference to refer back to when you think you remember something but can’t remember where you saw it, and need a link to supporting documentation.  Bookmark the site, we think you will find it a useful tool.


Is PunchTV going public ???

A visit to the newly designed PunchTV website (see below)  might indicate that it is.  After a nasty and bitter breakup, what better way to get back at ” The X” than to beat them at their own game.

It appears that in the brief relationship between Steven Samblis and Joseph Collins, Collins  taught Samblis a little bit of how to start and operate a television broadcast company, so its only reasonable to assume that Samblis taught Collins a little bit of how to start and run a publically traded company.

Won’t that be a hoot if Collins takes his company public and competes head to head with Samblis !  Its fun to speculate who would come out on top.  Lets see… Collins has been at it much longer.  Collins has all the infrastructure in place.  Collins has years of contacts to call on.  Collins is currently broadcasting.  Collins currently has advertisers.  Collins has a niche audience.  AND… Collins has a brand new reason to crush his newest competition.

Now, put the above up against a new company, with a name that will be lost in the mix of the vast number of other companies trading off the “VU” (View) terminology (and there are even one or more Television broadcast companies with that name already).  A company that has yet to broadcast its first show on the new network.  A company that really all it has is an idea, and some limited knowledge gained from a short relationship that turned sour.  In addition to the reasons stated publically for the breakup… could there also have been tension building with differences in creative direction?  If so, it will be interesting to see which creative ideas will be successful.

So.. even IF PunchTV stays private, it will be interesting to watch these 2 companies battle it out for viewers (and advertising dollars), and interesting to see which creative design wins out in the long run.

PunchTV appears to continue to operate as usual, in fact one might not know there was an issue, however VU Television Network (still IC Punch Media) appears to be struggling to get off the ground.  PunchTV has completely revamped its website, while VU is still displaying default template content on its new website.  PunchTV has a full roster of shows, while VU has announced only 5.

We don’t know folks… the underdog could pull it out… but he sure has his work cut out for himself.  The ultimate show of investor confidence will be in the PPS.  IF PunchTV goes public, keeping score will be easy.  We suspect a PunchTV IPO will launch at a higher PPS than the current PPS of VU, which as of this writing is .0017.

Would YOU invest in PunchTV if it went public?


All Punched out !

Yes, its true… after weeks of IC Punch Media, Inc. CEO Steven Samblis saying he would never lose the PunchTV assets he purchased… he agreed to rescind the Asset Purchase Agreement and divest his company of all Punch assets.  See the Collins “Letter to Rescind the Asset Purchase Agreement” here

Many were struggling to understand the WHY behind the sudden turnaround in his previous stance that he would never lose the assets.  Mr. Samblis responded here, to the question here.  Also, here is the 8-K SEC filing which notifies the public of the action, and company name change.

Needless to say, this action took many by surprise.  The surprise wasn’t so much about the divestiture action itself, given the turmoil between the company principals… it was the that the action took place in such a short period of time between the demand for such by Collins, and the numerous previous vehement denials of Samblis that he would ever do so. 

Months since the original purchase of PunchTV had been spent extolling the benefits of the asset purchase to the then IC Places, Inc company.  Great emphasis and attention was placed on the increase in the asset value of the business, and great plans were envisioned for the promotion of the newly formed company.  Just when everything looked as though the plans were paying dividends, in the form of increased revenue from the broadcasting division… news of the turmoil surfaced.

At first, many were clamoring for information on what was going on between the owners, for it was just a few days earlier that they had both appeared together at the very successful UpFront  promotional gala for the company.  Accusations surfaced, asserted by Mr. Collins, that Mr. Samblis had been less than forthright with Mr. Collins compensation.  Rebuttal accusations then surfaced by Mr. Samblis about Mr. Collins having been less then forthright about running the broadcasting side of the business.  Shortly thereafter came the above referenced demand letter to rescind the original asset purchase agreement.

When Mr. Collins posted the demand letter on the PunchTV website, many, including Mr. Samblis thought Mr. Collins had simply lost his mind.  That is about the time Mr. Samblis began his vehement denials that he would ever let those assets be returned to Mr. Collins.  You can follow many of those assertions by reviewing the posts outlined in the post referenced above (here).

So… here we are.  The Asset Purchase Agreement for PunchTV has been rescinded.  Mr. Samblis has already taken actions to start his own broadcast network, entitled VU Television.  He has, or is in the process of, divesting himself from anything and everything PunchTV related.  He has started on a new website here.  There is not much material on the site yet as it has just been created from a template, so you may need to disregard much of the template text you see at this time.  As far as any other plans, they are sketchy at this early stage, but the concept is, Mr. Samblis will build a better broadcast network than PunchTV and Mr. Collins could provide, and there will be no negative connotations of being associated with Mr. Collins in the future.  

We understand that if you are new to this news you may have many questions that were not answered in this recap type post.  However you can find more complete details on our website here.  There you will find information, complete with documents and links as far back as September of 2012.  

Stay tuned… this journey into the new VU Media broadcasting company has just begun.  Hang on for a wild ride.  Its too early to tell how these events will effect the PPS.  We do know that the turmoil was not kind to the PPS, however only time will tell if the progress form here on out will be accepted or rejected by investors.