Well… there appears to be some progress…maybe. Mr. Steven Samblis, CEO of IC Punch Media announced today (via twitter feed from his @Orlandolive twitter feed) that ImagineTV is launching. The website is here. If you don’t like to read, there is a link here where Mr. Samblis is being interviewed about the launch and content (appears to be a “promotional” video).
Without any further explanation, which is par for the course for Mr. Samblis, one is left to assume, speculate and/or conclude that this appears to be an extension, or rebirth, of his Self Help Center endeavor. If you navigate to the Self Help Center website, you are now simply re-directed to the IC Places website.
One thing that jumped out at us upon initial review, was the “relationship” of the new initiative. In the graphic below (click to enlarge), notice the highlighted section. This notation leaves open the question as to what extent this initiative will benefit the shareholders of PNCH. In our post here about where’s the revenue, one must question where any revenue and/or profit will be accounted for as a result of any sales THIS initiative has.
Also notice the reference in the graphic below. IC Places has “invested” in Imagine TV. What does that mean ??? If invested in the traditional terms, does that mean Mr. Samblis, through IC Places Inc. has bought shares in the Imagine TV company? If so, how much investment, and where did the funds come from for the investment – Mr. Samblis’s “personal” funds, or PNCH funds? AND… like VU Television, there appears to be confusion surrounding multiple Imagine TV companies all using the same or slight variation of the Imagine name (sort of like MYimaginetv). So if there was really an investment, i.e. an exchange of funds, which company was the investment placed in?
As usual, with no explanation, and the past history of questionable creditability of Mr. Samblis… this new initiative creates more questions than it provides answers. What, on the surface, appears to be a good thing, may in fact be not so much.
We guess, stay tuned, hopefully there will be a press release explaining the relationship. However, as press releases go, they usually create more questions then they answer, and, even if Mr. Samblis were to personally provide an explanation to the investors of PNCH, it will likely be code-speak as suggested in this excerpt from our post here.
Mr. Samblis… please provide a meaningful explanation of the relationship arrangement posted on the MyImagineTV website, along with what, if any, benefit this new initiative will have for the investors of PNCH. And please… no code-speak !