Yes folks… looks like yet another company name change is in the works. Only this time the name appears to be going back to the previously used IC Places, Inc., and it appears to have the word Network attached to it this time around, as well as sporting a new color scheme (red). Will there be another ticker symbol change ? Will it go back to ICPA ? The name change has been confirmed by Mr. Samblis himself on the IC Places Facebook page as can be seen by the graphic below (click to enlarge). The 22 hours ago references 2/13/2014.
Also interesting… take notice to the copyright notice that now appears on the IC Places website (graphic below). Notice there are none of the previously listed shows. At one time Mr. Samblis advised message board readers to view this area for assurances that he still maintained ownership of the listed shows. Could this mean that Mr. Samblis now has lost the rights to all the shows previously listed in this spot? (remember folks… EVERYTHING means something ! )
Now… one might ask… what prompted this name change (at this time) back to the previously used IC Places? Let’s see, possibly related to any pre-trial arbitration meetings maybe? As everyone knows, after the Punch breakup Mr. Samblis insisted he owned the Punch name (and related assets)… but that was before he said they were poison and suing to get them back was a waste of time and money because Mr. Collins was “judgement proof” because he was broke. But… all that was before he most recently tried to float the idea that he was actively suing Mr. Collins again to get the assets back (which of course included the Punch name). WOW… talk about flip-flop !
So… the latest version of the story is… the company’s name will change back to essentially what it was before the Collins/Samblis merger. So what happened to all the flamboyant statements and innuendos about getting the Punch assets back? Does this mean Mr. Collins won ??? Kinda looks that way. The short story looks to be… they merged, they broke up, Mr. Samblis said he owned the Punch assets and name after the breakup… and now Mr. Samblis is changing the name of the company back to what it was before the merger. Check back tomorrow folks… maybe there will be another version yet to come.
AND… continuing the questions on revenue. To date, there has been no explanation on the accounting of any revenue generated from any of these new endeavors that have come to light lately. There will be those who do not question anything Mr. Samblis does, i.e. follow blindly anything and everything he does… however then there are the more rational and logical investors that dare to question just what the company is doing with their invested dollars. As we questioned in our post here, where is the revenue being recorded. It is inconceivable that within ALL of Mr. Samblis’s efforts, Clearvision, IC Places website, etc. not $1.00 of revenue has been generated over the last several reporting periods. Look at the last few SEC filings related to revenue… not $1.00 has been recorded as flowing into the coffers of PNCH. How can that be ??? And remember… we are not talking about “profit”… we are talking “revenue”. If you buy a widget for resale and pay $10.00 for it… and you sell that widget for $8.00… you have a negative “profit” of $2.00… BUT… you have revenue of $8.00. So even if Mr. Samblis is not making a profit on running advertising, and/or not making a profit on the Clearvision deal… where is the REVENUE from those actions ??? Could it be that the revenue is being accounted for in another one of his non-public companies… and only the expenses are being run through the public company??? Either Mr. Samblis is the worst business man alive in not being able to generate even $1.00 in revenue for the vast amounts of investment dollars the company has squandered, or, the revenue is being recorded somewhere else. Of course there is always the possibility that revenue is being generated but is not being recorded anywhere… but that would be even more reckless than diverting revenue for personal gain. The IRS and the SEC does not have a sense of humor when it comes to defrauding the public by failing to report earned revenue. One has to question…why the secrecy surrounding revenue ???
Remember… EVERYTHING means something !