Well… here we go again folks. Friends has documented on 2 previous occasions, here and here, that there appeared to be significant discrepancies in what was reported on the IC Places, Inc. (formally IC Punch Media, Inc.) SEC quarterly and yearly company filings. Mr. Steven Samblis has yet to comment on these discrepancies. Well… here is a 3rd. such instance.
As seen in the below graphic (click to enlarge), which is excerpted from the 10-Q report (here), it is clearly stated that Gayle Dickie’s resignation was “requested“. Keep in mind that this statement/declaration is from the formal SEC 10-Q report, filed, signed, and attested to by the CEO of the company, Mr. Steven Samblis.
Also, in the below graphic, Mr. Samblis addresses the issue on his Facebook Page. This explanation has been since proven inaccurate, as Mr. Samblis was WELL aware of this legal issue prior to bringing her aboard. In other public posts Mr. Samblis considered the issue a non-issue, yet now he uses it as a convenient excuse when he thinks it serves his interest.
Now, take a look at the actual resignation letter from Ms. Dickie (click to enlarge).
Does this look like a letter from someone who was asked for their resignation? Also notice the date of the resignation letter, and then look at the date given in the 10-Q filing. See any descrepency?
Ms. Dickie contacted Friends in order to set the record straight. In a lengthy conversation she indicated how frustrated she was with the misinformation and innuendos that were being published, such as on Investors Hub (see below graphic) regarding, and apparently insinuating, that upon her departure she “took several deals with her that she signed to the company“. As if to say, she took them illegally. As we understand the situation regarding “deals”, these shows were “Optioned” in order to allow time for funding of the production. These shows were optioned to Ms. Dickie and Mr. Bradley, not IC Places, Inc. or Mr. Samblis, therefore they were free to take them when they left the company.
Now… this is prime example of WHY there should not be multiple posters using the same alias. Although the vast majority of reader’s are positive this is Mr. Samblis making these posts… he now has deniability for content such as is illustrated below because someone else has stated they were not Mr. Samblis making these posts under the HollywoodFastLane alias.
Folks… as stated above, this makes 3 verifiable and indisputable instances of very troublesome discrepancies regarding statements and disclosures in IC Places, Inc. SEC filings. Many would say this is no coincidence, and appears to be a pattern. I think many would agree, these instances call into question ALL other statements, disclosures, and possible omissions within the SEC filings of this company, not to mention postings on message boards, be it using his own alias, or disguising himself as someone else to avoid accountability for his statements.
Many investors ask about why there is seldom an SEC 8-K filing on new initiatives and company actions. With the trustworthiness of several of the past SEC filings as outlined in the posts referenced above… what difference would it make. Can investors really rely on what is stated in the IC Places, Inc. SEC filings? And of course we are not talking about discrepancies over minor items like perhaps misspellings, minor math errors, etc., no, we are talking about MAJOR issues like disclosures regarding the President of the company, lawsuits and judgements against the company, and CEO Employment contracts calling for large sums of company money and stock. Some would say Mr. Samblis is thumbing his nose at the SEC by apparently proactively manipulating material events to mislead, or flat out deceive the investing public, as well as the SEC, with the discrepancies contained in his company filings.
If these reporting incidents concern you also, perhaps you should contact the SEC and file a complaint. The answers page about such is here, and the actual form to file an online complaint is here. As the below graphic indicates, the SEC is concerned about “False or misleading statements about a company (including false or misleading SEC reports or financial statements)“.
Folks… as we indicated above, this was a lengthy conversation with both Ms. Dickie and Mr. Bradley, covering a multitude of topics. They are good people, true professionals in their field, with pristine reputations, and who were totally believable in their statements and comments. Can you blame anyone for resigning under the circumstances outlined in the resignation letter? Then, to add insult to injury, only to be told “I don’t owe you guys anything“… is just shameful and ungrateful. Most would agree, the resignation letter demonstrated true professionalism in light of the “I don’t owe you guys anything” statement Mr. Samblis made to them.
Again, you have the facts, you can draw your own conclusion and opinion as to any wrongdoing here with regard to misrepresentations in the SEC filings, and then proceed accordingly.