Has anyone seen any sponsorship evidence that this press release was anything other than another failed attempt to lure investors to waste more money on Imagine TV, or as its called now, Imagination TV? (click to enlarge)
Mr. Steven Samblis, CEO or IC Places, Inc. appears to fancy press releases such as the Reed’s announcement to lure new investors into investing in his company. Its been almost 4-months since that press release, and it appears the announcement was misleading at best, fraudulent at worst. How does a company release a formal press release like that and the public never sees anything come from it. We have not seen one add from Reed’s appearing on any of the IC Places, Inc, Imagine TV, Imagination TV, Drivein TV, or any other medium associated with Mr. Steven Samblis.
The press release touted Reeds as the “first official launch sponsor” of Imagine TV. Given that Imagine TV has come and gone (no one seem to know why, but some think it was due to copyright infringement with the other Imagine TV’s) and now that Mr. Samblis is promoting Imagination TV, there is still no evidence of this sponsorship.
The Reeds press release is but one of many press releases that have never come to fruition. Many would call that a pattern. It would appear that his press releases are just about as reliable as his SEC filings. There are multiple documented instances of misleading and inaccurate information contained within the SEC filings, now it appears Mr. Samblis’s press releases can be added to the pile of misleading and inaccurate documents
Is the most recent press release touting the Uncommon Denominator going to succumb to the same fate as the Reeds announcement ? It follows a long line of previous press releases that seem to have failed, or worse, been simply propaganda aimed at improving the dismal performance of the company’s stock ( PNCH ). Perhaps one or two complete failures of the initiatives touted in previous press releases could be called bad luck, or a coincidence, but seemingly every one ??? Again, many would call that a pattern, and point to the extremely low reliability rate of the information.
History can not be changed… and this company, as well as Mr. Steven Samblis, has plenty of history. A simple Google search will support much of the history reported about this company. If you are thinking about investing in this company… even if its just for “flipping”… take 5-minutes and do some research on the company before making any decisions. It could be the best 5-minutes you ever spent.
Thank you for your thoughtful response.
“clerically inaccurate…”… with all due respect, you extend far too much courtesy to the level of misrepresentation contained in those filings. A clerical error would indicate a rudimentary mistake. It seems glaringly obvious there was a proactive intent to mislead.
Take for instance the notification of legal actions the company is involved with (details here: https://friendsofvutv.wordpress.com/2014/04/15/fraud-or-honest-mistake/. Court documents prove the company (and Mr. Samblis personally) was sued. The company settles out of court, then defaults on the very first payment of the settlement agreement, which leads to a legal judgement being filed against the company. Not only is this action omitted from the filings during that time… Mr. Samblis, acting as CEO of the company, states proactively in the filings that there was NO legal actions involving the company. It challenges common sense to believe this legal issue could have been simply forgotten. The only explanation remaining is a willful and wanton action to mislead and misrepresent.
Many believe Mr. Samblis is simply incapable of being honest. Many also believe Mr. Samblis knows full well what he is doing, and is incapable of making money the old fashion way… i.e. honestly. Mistakes can be forgiven… but outright fraud can never be acceptable.
Thanks again for your comments, they are truly appreciated.
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Thanks for this information.
Are you telling me that the Company has defaulted on a judgment and it is not disclosed in the financial statements? I assume you are talking about something less than $4000 or 5% of total assets. Then, the accountant could call it immaterial.
If, it is more than that, I would think it should be disclosed.
Did the Company ever appeal the judgment? Does the Company have the right to cure it?
I am not defending the current management, or mismanagement but give the guy a chance to explain. Maybe the check was in the mail or the dog ate it. Maybe he was paying the whole judgment and that is why there is a bank overdraft as the check paying the judgment is outstanding,
These are all possibilities but, I doubt it,
Mr. Samblis has proven time and time again shows he needs not to be trusted.
I am glad to see our tax dollars at work and the compliance section of the SEC has not brought this individual and his alleged independent CPA firm to justice.
Mr. Samblis says there are two full time employees and two part time employees for IC Places. Who are they? Do they get paid? What services do they render to the Company?
I am so mad at myself to have listened to a friend who suggested that I buy this stock.
I don’t blame the SEC that I bought it. I do blame the SEC and FINRA for not shutting this company down or label it as poison or something like that for its numerous errors and false and misleading PRs that I have now read.
How can this company and possibly others like it use social media to spread its falsehood and not be held accountable?
When I first looked at the company website it had so many advisors and experts it would need a small ballroom for all of them to meet. The truth is that they only need a small bathroom for them to have a meeting.
Maybe that is where Mr Samblis does his best thinking and reading, on the pot.
Oh well, I guess my son wont get new shoes this year for school.
Thanks Mr. Samblis and your gang of thieves.
There ase
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“Are you telling me that the Company has defaulted on a judgment and it is not disclosed in the financial statements? “…
YES ! Check out the link I provided in my reply to your comment. It lists the actual documents related to the incident. There is also the erroneous disclosure about the departure of the past President (details here: https://friendsofvutv.wordpress.com/2014/04/26/fraud-or-honest-mistake-3/ ).
It appears these SEC (legal) filings are only useful in the room where you indicated he may do his best thinking and reading.
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A very interesting post.
What I found more interesting today was a post on investors hub which indicated that the Form 10Q of IC Places is clerically inaccurate. Particularly the column for December 31, 2013, of the Statement of Changes in Cash Flows does not clerically compute.
Forget press releases, how does someone submit a financial statement to the SEC and not have it clerically correct? I thought there was a requirement that a CPA was required to perform a review of interim financial statements. How is it possible that a review was done by an outside CPA Firm and let statements go out that are not clerically correct?
How does the sole officer and Director of a Public Company sign that the filing is complete and accurate when one of the statements is clerically wrong. I had my fifth grader practice his arithmetic skills and he told me “mommy this does not add”
Is Steve Samblis smarter than a fifth grader?
He must be. Who else can approve the issuance of 240,000,000 shares of preferred stock to himself, know the nuances of Delaware Law which allowed him to do a reverse split which in combination with the issuance of preferred stock screw the common shareholder, convince his inept accountants that the preferred shares are only worth $2400 when he basically took total control of the Company out of the hands of the common shareholders, file a Form 8K with at least four errors in it, be able to convince a finance Firm that his Company with no revenues, no significant tangible assets, no cash, no proprietary product or rights is worth financing and avoid getting any comments from the SEC on his incomplete and inaccurate filings.
I was also reading the post where Steven showed part of his contract with Clear Channel, how come the whole contract was not disclosed? If he was concerned about confidentiality how come he did not submit it to the SEC under the seal of a confidential order?
I am just an ordinary housewife and through my coupon money play the market.
I thought the SEC and an independent accounting Firm’s responsibility was to make sure that Company’s filings were complete and accurate. I guess I am wrong.
Forget the market, I am going to the casino and bet my money on the roulette wheel. I stand a better chance of hitting success than investing in this type of security and, at least you get free drinks.
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