Directorship resignation

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Posted by Sass Peress | Posted in Uncategorized | Posted on 14-10-2010

I have advised the Chairman of the Board of my resignation, for personal reasons, from the Board of ICP Solar as of Sept 8th, 2010.

Comments (2)

sass, any comment with slmu news and price appreciation. any info on arise technologies value and potential? thx!

Any real product or service delivered profitably? I once had control of over $55million of shares in ICP. Those are now worth under $100,000 at face value, and $0 at “marketable value” (since I passed the title and authority of CEO and Chairman to MM in 2009, the company ceased to operate within months and the share trading slowed to a crawl. In fact many people don’t know that the GM business was originally supposed to go into ICP until MM and the old investors got into an argument about rank of priority of debt).

The OTC market is about “vapor ware”. Kudos to MM for creating yet another great story, and apparently getting even with the ones who double-crossed him. I can imagine that the people at Sunlogics Inc/PLC are scratching their heads about a guy who just won’t go away so quietly.

While I have always stated that MM should not manage the companies he sets up, I give him tremendous credit for creating sizzling stories, even if the most recent press releases have their share of English language grammar issues and extremely smart play on words. The challenge for most investors is that they choose to project meanings that the press releases simply don’t convey clearly. Enough is left to “projection” that permits explanations to SEC reviewers while leading investors on a frenzied search for the “golden egg”. This is the reality of the pink sheet market. (I remember doing an interview with an “editor” in 2007. I said specific words to each editor so that I could trace who wrote what. One interviewer, who was referred to me by the promoters who funded ICP at that time, wrote “the apple of solar” in his article under a different alias. I had only said those words to one editor. That newsletter claimed ICP would go to $34. I starting receiving emails from retirees who had invested in ICP at high levels only to see it become a penny stock again. That incident is the reason I will never lead an OTC company again. There is little reality in what goes on, and its a path of finance for those who can’t get more traditional financing).

I just wish everyone good luck through the wild swings. While promoters know exactly where they are going and when to sell, most others will either be very lucky…or not.

As for Arise, it would appear the secured creditors have done very well IF they got free trading stock at these levels. I suspect the value will come back down if either they graduate to a higher governance market or can’t deliver profits over time. Alliances, directors, etc…are not sustained, profitable business, and in the end, that is all that “real” businesses are valued on.

Congrats to all those that held and sold in the run up. As for anyone who buys at the higher levels, ask yourself what reality will sustain that pricing on a more rigorously monitored and compliance-laden stock exchange. If the answers are definitive and clear, keep investing. If they are not, hold your position or sell, and don’t look back no matter what happens.

That’s the best advice I can give you. Hope it suffices for you and anyone else reading.

Regards

Sass
PS. I stopped posting on the ihub board because my time was better spent rebuilding my life after the Sunlogics episode and since I had only retained the one-year FREE subscription, I’d have to pay to be able to respond to private messages or post. I read it once in a while, yet that’s the extent of my involvement.

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