This Yeshiva collectively has swiped over $500,000 for this. They only received $175,000 back.
If it's not a scam (and you have better chances of getting hit by lightning than that) you're scamming the investors, breaking a few SEC regulations, scamming whatever entity provides the 'education' grant, etc.Nope, don't see anything not yoshor about that... Hey as long as we make money it's all good, right? (/sarcasm)
if its not a scam and you make all your money, whats not yosher about it? you might be a navul b'rushut ha'torah but what does it have to do with the above?
Don't worry. Dans Fan is being as sarcastic as the rest of us are.No sane person here actually buys into it, except for the ppl profiting from it.
We have incurred significant losses and negative cash flows from operations since our inception in on November 14, 2006. We have an accumulated deficit of $3,121,681 and a working capital deficiency of $2,966,851 as of December 31, 2013. These conditions raise substantial doubt about our ability to continue as a going concern
Ah, they had a 10-K filing on Apr 15th. http://biz.yahoo.com/e/140415/sgmz10-k.htmlThey say:So if I understand this correctly, they're probably getting as much $ as they can from people 'buying' their non-existent tablets on CCs, distribute the money to the 'officers' of the company and go bankrupt.Looks pretty simple to me.I'd short the stock.
You can't cover a short after a stock has gone bankrupt. I'd be wary shorting the stock. Trade volume is around 500 shares a day. Seems like you may have a tough time covering your short
99.9% of the people on here won't be able to short an OTC stock either way.Discount brokerages don't allow it, which is what the 99.9% of us use to trade with.
States clearly that they are bleeding money to wazoo. I can't believe people who sit and learn all day, have some of the sharpest minds.... Would fall for this? It's sad
Money makes smart ppl do dumb things.
Any updates?
Last I heard someone I know was paid partially. I'll ask him tonight
I'm buying in!!