Folks… did you happen to catch this little blurb at the bottom of the Imagination TV page? It’s just unbelievable Mr. Steven Samblis would make a statement like this, let alone post it for the world to see. See the full graphic here.
The last sentence is the most ridiculous part of the statement… “The agreement was cancelled for non performance“. Wait… is Mr. Samblis saying he cancelled the contract with himself, because he didn’t perform ??? Isn’t Mr. Samblis, as CEO of Imagination TV, (the public company), the one who decided what actions the public company was to take?
So… would it also be true that the funds used to start Imagination TV, (which was touted as part of the public company), now just gone, or could it be said confiscated (or perhaps forfeited), by the owner of Imagination TV – the non-public company, wholly owned by Mr. Samblis (who wholly owned the public company)? This seems just bazaar ! If you’re scratching your head over this, you are likely not alone.
Investors could also ask… did Mr. Samblis just abscond with what little assets the public company may have had, and leave investors holding the bag? Would this be some kind of punishment for any investors still invested in the company? Or, did Mr. Samblis start the Imagination TV entity with “personal” funds, and therefore he considers Imagination TV (the non-public company) not, (or ever was) part of the public company? Maybe Mr. Samblis used his salary as CEO of the public company to fund the Imagination TV endeavor, and therefore the public company has no claim to the “private” entity. But wait… Mr. QueFine states Mr. Samblis never took a paycheck from the public company, so how does that work ???
Folks… this may need more investigation. Something just doesn’t seem right, or as some may say… legal ! How does the CEO of the public company lead investors to believe he is working hard to start other revenue streams for the company, then just decide to divert any fruits of that labor to his “personal” company – then deem the public company did noting, and therefore deserves nothing ??? So, it appears that if investors had even a glimmer of hope this company would (or could) turn around, they now see the writing on the wall – the imaginary wall that investors were led to believe was real !
One thing seems for sure… Mr. Samblis does have a marvelous “Imagination” !