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)
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 ?