Author Topic: Scam Alert Sungames  (Read 276615 times)

Offline churnbabychurn

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Re: Scam Alert Sungames
« Reply #240 on: June 12, 2014, 04:41:59 PM »
http://biz.yahoo.com/e/140523/sgmz10-q.html

You think this will save my job?!?
You realize that you are linking an UNAUDITED quarterly report containing MDA that is basically Bs.

You're fired!

Offline bubkiz

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Re: Scam Alert Sungames
« Reply #241 on: June 12, 2014, 04:43:27 PM »
Cut and paste from the above link:

We have incurred significant losses and negative cash flows from operations since our inception in on October 11, 2010. We have an accumulated deficit of $3,968,452 and a working capital deficiency [b]$3,930,908 a[/b]s of March 31, 2014. These conditions raise substantial doubt about our ability to continue as a going concern. We have historically financed our activities through the private placement of equity securities and through related party advances. Through March 31, 2014, we have dedicated our financial resources to the development of Flightdeck and Vidirectory and the expansion of our tablet business and general and administrative expenses as described later in the section titled Results of Operations.

We have incurred significant losses and negative cash flows from operations since our inception in on October 11, 2010. We have an accumulated deficit of $3,968,452 and a working capital deficiency $3,930,908 as of March 31, 2014. These conditions raise substantial doubt about our ability to continue as a going concern. We have historically financed our activities through the private placement of equity securities and through related party advances. Through March 31, 2014, we have dedicated our financial resources to the development of Flightdeck and Vidirectory and the expansion of our tablet business and general and administrative expenses as described later in the section titled Results of Operations.

Offline Emkay

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Re: Scam Alert Sungames
« Reply #242 on: June 12, 2014, 04:51:11 PM »
Emkay if you know the names of the people who are doing this ask your lor, it probably is a mitzvah to publicize them since they are חוטא ומחטאי and מחללי ה ברבים (apologize if my Hebrew spelling is bad) and I could keep going on the list of עבירות they are commiting which requires one to publicize the individuals involved
trust me,  I don't like this one bit and being someone who knows the inner workings of this  scheme, I want to end this more than you do. Though I have a line,  and bestowing upon people names and titles without knowing the story or any substantial facts crosses that line.  So I will not be disclosing names in this public setting.  If you feel there is something you can contribute to this cause then you can PM me

Offline Ergel

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Re: Scam Alert Sungames
« Reply #243 on: June 12, 2014, 05:57:19 PM »
Sungame's mission is simple: to enrich people's lives by becoming a leading social networking, content creation, content discovery and distribution platform. Integral to the site's functionality is a central aggregation engine that excels at serving targeted, focused and high quality content and social medial interactions based on the user's specific interests and past usage history. Other tools available on the website are designed to simplify content creation and distribution for content producers, while providing these artists an engaged audience interested in consuming this content.



Have you been to there website. It looks like it was written by a third grader. And they seem to have no customer base? How can you be a leading social networking platform with no website and no customer base?
Life isn't about checking the boxes. Nobody cares.

Offline Aaaron

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Re: Scam Alert Sungames
« Reply #244 on: June 12, 2014, 06:18:13 PM »
This thread cracks me up.  The ability of some people to convince themselves that this is legitimate is impressive.

Offline shimino1

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Re: Scam Alert Sungames
« Reply #245 on: June 12, 2014, 06:57:53 PM »
This thread cracks me up.  The ability of some people to convince themselves that this is legitimate is impressive.
Whats not legitimate about it? You put in 1000$ pretend you got a tablet, they give you back your money plus another 500$
they pretend they sold a ton of tablets (and somhow lost milions doing it) their stock goes up to 5 bilion $, their 5 employes get fat paychecks and bonuses and when the LLC colapses one day and goes bankrupt those 5 guys walk away with the money leaving a bunch of people penniless.
Whats wrong with that? (sarcastic)

Offline elit

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Re: Scam Alert Sungames
« Reply #246 on: June 12, 2014, 08:15:47 PM »
Emkay if you know the names of the people who are doing this ask your lor, it probably is a mitzvah to publicize them since they are חוטא ומחטאי and מחללי ה ברבים (apologize if my Hebrew spelling is bad) and I could keep going on the list of עבירות they are commiting which requires one to publicize the individuals involved
I wasn't telling you to do it. I was suggesting you ask your lor because it might be the right thing to do in this case

Offline MosheP

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Re: Scam Alert Sungames
« Reply #247 on: June 12, 2014, 08:36:02 PM »
This isn't a scam where they're selling houses that don't exist  and skipping town.  Or pushing a worthless stock,  or any other scam where SMART people can be taken in.

They are offering something that is too good to be true,  where you make money for doing nothing.  Even if honest Abe approaches you with something like this you say away. 

The only way to make I in this world is through hard work.  This applies to both the material world and the spiritual world 

Publicizing  names as a safety awareness is worthless.  Instead we should educate  folks to use common sense. 


For me the biggest flag was where they caimed a certain non-profit  "invested"  4 milion and already got the money back.  When I spoke to the Executive  Director  he told me he never gave a dime.

If you can't be transparent about something I stay far away. 



Offline Ergel

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Re: Scam Alert Sungames
« Reply #248 on: June 12, 2014, 08:40:34 PM »
The value is the stock keeps getting mentioned. Have you bothered to look at the volume of share traded. It's under 500 shares a day. And we don't know who is buying the shares. It could be friends and family. There is no way they could get billions of dollars for the company. It's a made up number
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Offline henche

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Re: Scam Alert Sungames
« Reply #249 on: June 12, 2014, 08:51:08 PM »
The value is the stock keeps getting mentioned. Have you bothered to look at the volume of share traded. It's under 500 shares a day. And we don't know who is buying the shares. It could be friends and family. There is no way they could get billions of dollars for the company. It's a made up number

Are they publicly traded on a market? How does the market allow this?

Offline Ergel

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Re: Scam Alert Sungames
« Reply #250 on: June 12, 2014, 09:11:41 PM »
It trades OTC
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Offline henche

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Re: Scam Alert Sungames
« Reply #251 on: June 12, 2014, 09:25:54 PM »
It trades OTC

So then as you say, for all we know they are "trading" it back and forth between themselves at obscene prices to further the scam.

Offline Baruch

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Re: Scam Alert Sungames
« Reply #252 on: June 12, 2014, 11:33:14 PM »
I'm not sure what's funnier, Alex Libman - the man who imagines himself as a great intellectual writer, or yechielM1 - the man who imagines himself as a Hedge Fund employee. I'm cracking up.
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Offline churnbabychurn

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Re: Scam Alert Sungames
« Reply #253 on: June 12, 2014, 11:53:32 PM »
I'm not sure what's funnier, Alex Libman - the man who imagines himself as a great intellectual writer, or yechielM1 - the man who imagines himself as a Hedge Fund employee. I'm cracking up.
Both very sad and pathetic.
But these guys keep Ddf interesting 8)

Offline aygart

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Re: Scam Alert Sungames
« Reply #254 on: June 12, 2014, 11:59:20 PM »
The value is the stock keeps getting mentioned. Have you bothered to look at the volume of share traded. It's under 500 shares a day. And we don't know who is buying the shares. It could be friends and family. There is no way they could get billions of dollars for the company. It's a made up number
and

It trades OTC
yet

I read that online along with lots of other articles.

Several lawyers looked into the company and said it is not a penny stock. (That article is from a year ago)
lol
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