The good, the bad, and the ulgy.

 

Is the CEO a Liar ???

Is the CEO of IC Places, Inc. (formally IC Punch Media, Inc.) Mr. Steven Samblis a liar.  Well… many say yes.  Many point to his previous press releases where he promotes new relationships, affiliations, or initiatives that the company is involved with, and say because many, (and some say ALL), of these initiatives have not come to fruition (“true” as they say), that this is evidence of his lying.

Well, we disagree.  Many businesses initiate new ideas, try new things, enter into new relationships and affiliations.  Many times these new initiatives turn out to be not what they initially thought they would be, and in some cases outright fail.  That’s just business.  Some things work… others don’t.  So… simply because Mr. Samblis has tried new things to improve the company, and most if not all have not proved successful, and many have outright failed… does not mean he lied about them, or is a liar.

However… what these poor and failed initiatives make him is… probably the worst businessman (and/or CEO) of all time.  The club of businessmen and/or CEO’s that have spent tens of millions of dollars on trying new things, only to have their stock currently trade at extremely sub-penny status – AFTER 3 REVERSE SPLITS… is an extremely small club.  A club some say Mr. Steven Samblis should not only be a member of, but be the leader of.

What folks should be looking at to draw a conclusion that Mr. Samblis is likely a liar is hard evidence.  Evidence that can be documented and indisputable against the common standard of proof.  Lets look at some one at a time.

SEC filings:

1) CEO Employment contract:  Mr. Samblis files multiple 10-Q/K reports that state… “The company does not have employment contracts with its majority shareholder, who is the executive officer.“.  This is a quote from the August 12, 2011 Quarterly report filing here.

Then…the public filing dated 11/14/2012 states the following: “On November 18, 2005 the Company entered into an employment agreement with Steven Samblis to be our Chief Executive Officer.”. The passage goes on to list the compensation which includes the provision of majority control being maintained.

2) Lawsuits against the company:  The most recent filing, the 10K (see here), as well as the previous filing, the 10Q (seen here) there is NO mention (or can be said, “disclosure”) that there is in fact a legal proceeding against the company.  See it here.  In fact, the filings state..  “We are not engaged in any litigation, and we are unaware of any claims or complaints that could result in future litigation.” (emphasis added)

Then… it becomes known that there was in fact litigation that had occurred during these 2 filing periods.  See details here.

3) President of company being asked to resign:    In the 10-Q report (here), it is clearly stated that the president’s resignation was “requested“.  (see details here)

Then… just recently the resignation letter of the president became available.  See it here.  Clearly, this was a voluntary resignation on the part of the president, which is, in direct opposition to Mr. Samblis’s SEC filing statements, as well as multiple message board posts.  In fact, of late, Mr. Samblis is still maintaining that he requested the resignation.  Additionally, notice the date of resignation discrepancy between Mr. Samblis’s statements and filings, and the actual resignation letter.

Keep in mind that the above statements/declarations are from the formal SEC 10-Q reports, filed, signed, and attested to by the CEO of the company, Mr. Steven Samblis.

Other incidents:

1) Reverse split:  This one doesn’t even need any document references here.  As everyone knows, there were a vast number of posts over multiple message boards where Mr. Samblis stated he would not do a reverse split of the stock.  In several instances he used the word “never” in reference to the possibility of a reverse split.  This was likely the topic that Mr. Samblis most addressed in his message board posts, and steadfastly disputed anyone that would even hint at him doing another reverse split.

Then… as everyone knows, on March 27, 2013 he does a reverse split.

2) Statements regarding our websites:  In a message board post dated 4/28/2014 on Investors Hub, (see it here) Mr. Samblis states (see below premise), via his HollywoodFastLane alias, that “Issacs attempted to sell the sites (right after registering them) to IC Places for a hugely inflated price.”

Then… Friends posted the actual email exchanges between Mr. Samblis and Larry, which clearly demonstrate Mr. Samblis was not being truthful.  (See them here

.)  As can be clearly seen, a) Larry did not contact Samblis to sell the sites… Mr. Samblis made the initial contact and requested a purchase… several times, before Larry agreed.  And b) referring to the “hugely inflated price” as Mr. Samblis states… an agreed upon price of $1500.00 was struck.  However, due to Mr. Samblis’s message board posting where he blatantly disrespected Larry… Larry cancelled the deal.  Then Mr. Samblis later (October 27, 2013 email) offers over three times that amount, voluntarily, to purchase the sites, but that offer was refused (see the next email).  Clearly Mr. Samblis has misrepresented the actual events surrounding the purchase of our sites.

 

Now, as most of you know, we could go on and on giving example after example of instances of where Mr. Samblis was, shall we say, reckless with the truth.  Although some instances would be open for dispute, we think there are no better examples of questionable actions, that many would call lying, then the instances involving the SEC reporting.  These SEC reporting discrepancies are clear, documented, and clearly a misrepresentation of the facts.  Many would say a blatant disregard and disrespect for the authority of the SEC.

Well folks… you have the facts, you are free to decide for yourself if Mr. Samblis is a liar.  It seems obvious Mr. Samblis has recently taken to the message boards, using what many believe to be multiple aliases to promote the company, and therein a presumed purchase of the company stock shares (some call this stock manipulation).  Many believe it is Mr. Samblis, stating through multiple aliases, that it is not him really posting using these multiple aliases.    One such account, HollywoodFastLane, was apparently shut down recently by Investors Hub as being in violation of their Terms of Service, and many believe a fraudulent use of such account.  Many say this is Mr. Samblis’s attempt at circumventing being held accountable for his statements and actions by claiming he was not actually the poster.  The poster made multiple statements using the HollywoodFastLane account stating that he was “hired” by the company to maintain social media content.  If this is actually Mr. Samblis making these posts, it is but another example of what many call lying.  Maybe some day his use of such tactics may be able to be discovered and documented also.