Folks… some investors share the same sentiment as the post shown below. (click to enlarge) They also think that this is a brand new company, with brand new leadership, brand new ideas, and will bring brand new profits for their investments.
Folks… if they wanted you to know the details of the sale… it would not have been “Private” ! There is a reason people conduct business in private – it’s because they don’t want you to know what they are doing. That concept is not rocket science.
We mentioned it in our post here, those who don’t know, and/or respect history – are doomed to repeat it. And, there is plenty of very reliable history on this company, and Mr. Steven Samblis, available with just a few minutes on any search engine like Google. History really does tend to repeat itself. There is no dispute that many investors, that most likely considered themselves experienced and cautious investors, lost a lot of money on this company. Just do a little research and you can confirm this fact.
Now, if you’re thinking the history of this company, and Mr. Steven Samblis doesn’t matter anymore because of the change in ownership… you would be wise to revisit the concept of “Private sale“, and the possibilities that exist when the principal parties don’t want you to know what the real story is. Here is one sure bet… if it was of ANY benefit to YOU, the deal would most likely not been “Private”. You, the potential investor, do not know if the contract was 1 page, or 100 pages. You have NO idea what else could have been in the contract of sale regarding compensation and/or continued ownership of the public company. However, it’s a safe bet that it was favorable to Mr. Samblis or he would not have consummated the “sale”.
Re-Read the 8K, and notice the word choices that were used. When investors read the 8K they would be wise to think about the history of this company, and Mr. Steven Samblis’s previous actions running the company, and his integrity with respect to some of his previous promises. Think to yourself, what other meaning COULD those words be used for, such as evasive, or misleading, or escape clause type of duel meaning words. Mr. Samblis is very good in the art of using duel meaning words – just ask him if he ever “sold” any shares.
MilesBlue42 is spot on when he rhetorically asks why Mr. Samblis so infrequently files 8K notices about grandiose initiatives that he releases simply as press releases. One could assume that he does not want to go on the record with the SEC about the plans. Investors should be asking WHY?
Folks… you would be wise to respect the history of the company and Mr. Steven Samblis every time you start to think something new is about to happen here simply because of a “Private sale” that by it’s very nature, didn’t provide you with all the details any investor should have before making an important decision.