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Post by Paul on Aug 26, 2014 20:04:46 GMT
Jackson-What claims are you talking about? What makes you think I even talk to Sal Scuderi or anybody at the SG? Personally, I don't give a hoot about your questions there all counter productive, what I do care about is that the SG has a sound business plan, the ability to generate revenue, and continue to work their asses off, and until proven otherwise they have my support as an investor.
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Post by Guestofpaul on Aug 26, 2014 22:18:03 GMT
Yeah, you tell him Paul.! Fake it until you make it!!!
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Post by Car Guy on Aug 26, 2014 22:57:23 GMT
Timberland, sorry so long to respond but I WAS AT WORK! Lol.
I was being sarcastic. But now I'm not:
I believe Sal, Ruth, and the rest of the family are honest people pursuing their patriarchs dream. They have never misled us via word or deed. All the talk of consortiums with world renown universities was true. IPO bigger than google...true. They told us we'd have audited financials in Feb 2014....all true! Daimler waiting for one more report before signing...true. B.M.W. Christmas Bonanza...true!
Stop being haters! We're all rich! Rich I tell you!
S-1 announcement in 30 days!
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Post by Bike Guy! on Aug 27, 2014 17:57:37 GMT
Thumbs up. 29!
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Post by Slick Sal on Aug 28, 2014 3:33:46 GMT
This seems to me like an absurdly light slap on the wrist for these kinds of activities. I am saddened by these revelations for a number of reasons. The history of novel alternative architecture engine developers has several instances of inventors promoting performance that violates the laws of thermodynamics. Any legitimate engine developer often has to overcome this history in building credibility with potential partners and collaborators. Now we must deal with one of the most highly promoted and well-known alternative engine developers actively scamming their investors. I hope the fallout with this is limited mostly to Scuderi and not other companies and individuals working hard and ethically to solve huge complicated problems.
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Post by Slick Sal on Aug 28, 2014 3:36:03 GMT
When John emailed me the Green Car Congress article about the SEC issuing a cease and desist order to the developer of the Scuderi Split Cycle Engine, I was shocked. There really are two major kinds of violations here. When a private company raises money by issuing un-registered securities (in other words, the company has not done an IPO and follows requirements to issue all sorts of information to inform and protect investors) they must ensure that their investors are what the SEC calls “accredited investors”. This is to protect the public from scams or other malfeasance of companies soliciting investments. Turns out they raised $80 million dollars, a number that floored me given the limited progress Scuderi has made, and much of that from non-accredited investors way beyond any exceptions that a company can claim. Not only that, but they actively tried to hide these violations from the SEC, which means it is not just a case of not knowing the law but a premeditated effort to get away with breaking the law.
The second violation is even worse. Salvatore Scuderi used millions of dollars that he raised from investors to fund personal expenditures of family members who provide no services to the company. These payments have been characterized as loans, however there is no documentation stating the term of the loan, the interest rate, or any collateral to secure the loans. Mr. Scuderi is subject to a $100K fine, and the SEC is requiring the Scuderi Group to define the terms of the loans and to disclose these non-company related use of funds over the last 12 months (but apparently not earlier violations) to new investors.
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Post by gman on Aug 28, 2014 13:32:06 GMT
Give it a rest already...
Thumbs up. 28!
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Post by Paul on Aug 28, 2014 14:07:37 GMT
Slick Sal-Your definitely not an investor and though your "opinion" was well thought out, your missing too many pieces of the puzzle for us to take you to seriously. In my "opinion" the SG has a sound business plan, several revenue bearing deals in place, and now appear to be rolling along quite impressively in spite of all the obstacles they have had to overcome over the past year. Hopefully between now and the end of the year there will be several press releases made confirming their progress, then all the naysayers will simply disappear.
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Post by I make you Rich on Aug 28, 2014 14:11:41 GMT
Breaking news! Scuderi to list on Zimbabwe stock exchange - worth billions and billions of dollars ... ticker symbol will be S C A M ...
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Post by Paul on Aug 28, 2014 14:29:23 GMT
All good news for the investors, thanks for the update. LOL!!!
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Post by ScuderiGate on Aug 28, 2014 15:47:46 GMT
Slick Sal-Your definitely not an investor and though your "opinion" was well thought out, your missing too many pieces of the puzzle for us to take you to seriously. In my "opinion" the SG has a sound business plan, several revenue bearing deals in place, and now appear to be rolling along quite impressively in spite of all the obstacles they have had to overcome over the past year. Hopefully between now and the end of the year there will be several press releases made confirming their progress, then all the naysayers will simply disappear. Slick Sal lifted that text from a competitor's blog. You're right that there are people here trying to undermine SG for their own gain. I can't really say I blame them. I could personally take over this project and turn it into a massive company. And I would, if only the patents weren't in the way.
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Post by Paul on Aug 28, 2014 16:04:09 GMT
Finally some honesty, investors beware of everything your hearing, trust no one, as just conformed there are people out there that could care less about you or your investment.
I'll take ScuderiGate's comment as another positive, the patents are well protected and the technology is legit, there are revenue deals being signed and the SG appears to have found the right road to success.
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Post by Marlene on Aug 28, 2014 19:08:33 GMT
Paul, from what I know the SEC is reading this blog. Not sure you want to expose yourself with these kind of statements you made given that your full name has been mentioned here in the blog. From what I know the patents are at risk as debt holders have a priority claim. How can you therefore say they are "well protected"?
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Post by Molukke on Aug 28, 2014 19:09:59 GMT
Paul, how about doing your homework first as mentioned earlier in this blog before making such bold claims?
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Post by Paul on Aug 28, 2014 21:09:52 GMT
Marlene-I thought it was self explanatory that the patents are well protected from other companies trying to use the any part of the technology for their own product development. Furthermore do you really think any one on this forum has ever had interest in buying shares? I thought this blog was created strictly to under mind the Scuderi Group. Just because I am the only person on this forum trying to support them and my investment that makes me some kind of crook, give me a break. Maybe the S.E.C. is looking into others individuals on this blog who are not investors, however for some reason are personally involved in trying to hurt the SG and their investors who actually do have faith in the company.
Molukke-Maybe you can let me know which bold claims I have made as I'm not aware of them. Otherwise nothing is in stone, it's only my opinion, take for what it's worth, if you think my opinion is stupid don't listen to it, isn't that the purpose of public forums. As I have said many times before I am completely unattached from the SG, never received even a penny in compensation from anyone for my support, have never convinced or tried to convince one family member, friend, enemy, co worker, associate to buy even one share, nor will I ever try to convince anybody to buy any shares.
Maybe I'll take some time away from this blog, that seems to be the consensus and that is what most on this forum want anyway, to be able to insult, accuse and under mind the SG, without any counter response. Have fun!!!!
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