 Why? |
WATCHING 1
Jan-7-03 11:43 |
My question is, why would a C.E.O. of a large co. go after
personal loans from joe citizen for 10% when you can go to the bank
and get it for 5-7% or less. This whole thing blows me away. After
all it isn't rocket science, is it? My only advice is, IF IT SOUNDS
TOO GOOD TO BE TRUE, IT PROBABLY IS! |
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Why? |
Dot.1cent shares
Jan-7-03 15:34
|
Well your first assumption is wrong Dot1web
wasn't a large co., they where a small investor scam. All
three companies compiled together have never made a dollar or
offered any real service. Bob promised investors that he had
made some new technology and his company would make millions.
His technology was a fraud the Dot1web co, offers no real
service. Lowestbids bid bar whoopty doo, lowestbids is a sorry
web site with no customers all the auctions are fake just go
and look for yourself. The bid bar is lame too no users are
coming to the sites because there is nothing there. Which
states it all there is nothing there Bobs whole fantasy is one
big pie in the sky. Investors bought into it and lost their
money. |
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loan money
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guest
Jan-7-03 11:50 |
Because he promised them shares in the new
company @5 cents a share-and he(DEMAIO)never intended to pay
them back-he just intended to give them a worthless piece of
paper with a big red stamp on it saying "NOT TRADEABLE"
Plus this guy with his credit history cant get a loan
for a piece of gum-banks wouldnt touch this guy with a ten
foot pole.
Thats why he preys on people with some
money with a dream-he takes advantage of them like a used car
salesman. Well at least with a used car salesman you know
where he is BOB and his companies have changed addresses and
company names-want proof just look at the address on his sites
it still has them in carson city nv-he hasnt been there for
over a year. |
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dot1web stock
today |
who?
Jan-7-03 12:13 |
Hang on people, dont buy yet! Stock is at .08
cents and dropping. |
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He's Buying
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Bobby Boucher, thats pronounced Booshay
Jan-7-03 13:01 |
Looks like he is still buying his own stock.
Over 64000 worthless shares have sold so far today. Apparently
he is still spending you money. Hurry people before its to
late! |
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he's still
ripping people off |
cdev cdev
Jan-7-03 14:35
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They sold 64000 shares of stock to some
suckers for .08 a share.
Anyone who buys these stocks
is getting ripped off.
Gee, I think I should do the
same thing: start a company, make it go public, and sell
shares. After a month the share price will be worthless but I
will have made millions. |
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Stock Price
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Confused
Jan-7-03 22:10 |
how do you track how many shares were bought
at .08? I saw that 59,300 was the volume today, so I don't
understand where the 64,000 number comes from. Any help?
|
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i'm sure whoever
bought it |
guest
Jan-7-03 15:07 |
isn't a sucker if they could afford to throw
away that much money.....
and because it IS public,
he's accountable for that money - that it went INTO the
company and not his own pocket...
don't you think he'd
rather have a company where's he's worth multi-millions - at
just $10 a share - than a pennyless stock and only the salary
he made as ceo? maybe he used the salary to buy the lam, but
that doesn't mean he's made millions.....he doesn't even own a
house! |
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Bob acountable
HAHA |
dot1sucka
Jan-7-03 18:22
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BOB DEMAIO has not been accountable for any of
the money he has scammed from these people the only people who
can account for the money is CEASARS TAHOE CASINO |
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? |
guest
Jan-7-03 18:55 |
if there's an SEC investigation, he'll have to
be accountable, will he not? |
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you don't know..
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guest
Jan-7-03 13:39 |
you don't know for sure it's him - it could be
some of the bigger investors in the company taking advantage
of the price.....the technology and the ideas behind this
concept is truly genius - those of you who are investors and
saw how it works first hand know this......it can STILL be
pulled out or sold for the technology alone.....
i
think these discussions are really one-sided... alot of this
discussion is being fueled by some upset employees who can't
find another job that paid as well (granted, they're justified
if they're still owed wages but there IS a forum for that
called the labor board) and probably some of the people whom
the lawsuits are against.....
i'm just saying you're
only hearing one side of the story.....you don't know what he
may be doing to try to pull this thing out and pay off the
debts.....*IF* this happens will there be apologies on this
board? most likely not :( |
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What do you
know? |
Dot.10 cent and droping shares
Jan-7-03 15:58 |
The technology alone what are you joking?! Are
you talking about the Bid bar that generic piece of software
that Bobs still fighting over with the original developer.
That amazing piece of software that only works with IE5.5,
that over worked and strung-out engineers debugged for a few
short weeks. So Bob could show something to the investors to
make it look like he has actually done something. Don't make
us all laugh you couldn't sell that to anyone. |
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.... |
guest
Jan-7-03 18:53 |
you mean the original developer (engineer) who
was working FOR bob at the time and signed a non-compete
clause? i know for a fact the original idea WAS bob's, even if
the other guy knew technologically HOW to create it....he just
couldn't handle being a millionaire instead of a billionaire
(though, according to you, it's so generic, it's not worth
anything, so why the fight still?)....and he's fueling alot of
this fire right now because depositions for that case are
coming up...........
btw, there was an engineer prior
to this one who tried to claim rights to the drive4u
technology, too....he lost...... |
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Drive4U
Technology |
The Oracle
Jan-8-03 01:11
|
Hi, Brian Wanbaugh. Listen, buddy. You can't
take what Bob told you at face value. Earnie Hutchins (the
programmer who did most of the programming during the Drive4U
days) never claimed rights to the drive4u technology as
intellectual property. When Bob bounced two $50,000 checks to
Hutchin's company, Hutchins took back his machines and
software. This was not a battle over IP rights. Earnie didn't
"lose" anything. He got paid, and then turned over the goods.
By the way, did you get an extra PC for using your
dad's truck to move all the computers out of the office the
day the company was evicted? Did anyone bother to write down
all the serial numbers in case investors get curious about the
assets removed? Hope so. |
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get your facts
straight... |
guest
Jan-7-03 23:05 |
"btw, there was an engineer prior to this one
who tried to laim rights to the drive4u technology, too....he
lost......"
GET YOUR FACTS STRAIGHT....he didn't lose,
they settled out of court, and Bob had to pay him for the HUGE
checks that he had bounced to his firm....don't jump on the
BOB-O wagon until you know your facts...(and this can be
checked in the actual court dockets!) |
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BOBS FIRST
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another guest
Jan-7-03 19:14
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Hey guest, BOBs goes first -i know he cant
cover all of his steps with lies. The truth is out there and
come mid-Jan when bob demaio lies under oath he will get
caught and his ass will be in jail-Hey boberino dont drop the
soap well Ive seen bob mabey he likes to drop the soap!!!
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info gained from
BOB himself |
guest
Jan-7-03 19:07 |
Stop defending BOB-the engineer didnt try to
claim the rights for drive for u-he wanted his pay and all of
his programmers pay o and by the way he also has a judgement
against him for not paying taxes for those people in a county
in california-dont believe the hype-the man got paid and BOB
got his equipment back-o and by the way real secure place if
the engineers could walk out of the building will all of the
equipment right under BOB DEMAYIHAVEMOREOFYOURMONEYO- |
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I DO know...
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Investicon
Jan-7-03 15:37
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Bob: The concept is NOT pure genious. The
business plan would not work even if the company had $2
million in the bank, no judgments against the company (which
currently total at least $722,000), no pending litigation
(which total at least $250,000 for unpaid bills), no labor
commission complaints (which will require back pay plus a
hefty penalty), and good banking relationships (which don't
exist because of the multiple bouncing checks and libelous
statements about local banks).
After the company
burned through what, $2 million, building a look-alike auction
site with fake auctions, Captain, My Captain (aka Bob) tells
the shareholders that the auction concept is not going
anywhere. Now, we are fixated on selling "localized"
advertising. In order to "local" our advertising, we have to
have a portal or other entry point to "localize" a capitve
audience to push advertising. The original plan was to give
away the ISP connections and pay for everything with
advertising. Then, when Captain figured out that ISP costs
money, and it would take a huge capital investment to build up
the user base to justify advertising revenues, the company
switched from a free ISP to a low-cost ISP. But, because it
costs money (and there are very viable alternatives), the
users have not exactly flocked to the fold. Hence, no
advertising revenues on the horizon.
By the way,
didn't NetZero and a host of other free ISPs go bankrupt
trying this advertising for free Internet plan? What is so
different about your idea? Localized advertising? Sure,
Frank's Chevron needs to advertise on the Internet.
Was this company underfunded from the start? If you
figure a staff of 150 employees (many of whom had very high
salaries to live at the presitigous Incline Village), rent of
$55,000 per month, and other normal business expenses, the
burn rate must have been at least $500,000 per month. On an
investment of $2 million (which may be overstated), the
company could only last for four months. Captain has
repeatedly taken the company through boom (investment) and
bust (lay off) cycles. Evidently, the company leadership has
no idea about matching up revenues and expenditures in a
budget OR the company leadership always thinks there is
another big wad of money coming from investors. Either way, My
Captain is playing -- irresponsibly -- with the futures of
investors and employees.
So where do we go from here.
Sticking with the "truly genius" of current management? I
don't know. It seems like it would take $1 million just to
clear off all the unpaid judgments and existing litigation.
Are we better off in a bankruptcy liquidation, that would at
least allow us to recapture all of the insider money that went
out the door to fund the Captain's penchant for fast cars and
Incline Village high life? At least the employees and
creditors might get something from this fiasco. (Employees
will have a priority claim in bankruptcy.)
Maybe the
Captain is correct. Let's just keep blaming other people, like
former employees, for everything that has gone bad with this
company. Although the bucks stop with the Captain, the
responsibility evidently does not.
Even *IF* the
company pulls this thing out" and pays the debts, nothing El
Capitan does will ever make right the hardship inflicted on
hundreds of good, honest employees, stockholders, and
creditors punished by our Capitan's mismanagement and
misconduct. How can the writer speculate about receiving
apologies for BOB on this forum when BOB refuses to apologize
for the misery he has caused??? You will never hear My Captain
apologize. You will only hear him blame those in his former
command. There is no honor, no responsibility here. Only the
last gasps of a con artist clinging to delusions of power and
competence. Genius? Maybe not. |
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re: i do know
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investor 1
Jan-7-03 19:18
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i would think if things were as bad as this,
then he WOULD be claiming bk? or at least reorganization? why
keep putting up with all this if the ship truly was gone?
could you clarify *hardship* on stockholders? i'm a
stockholder and if people are giving up all the things that
have been said here (college funds, etc) then i'm sorry, but
that's their fault.....everyone knows you don't invest money
in ANYTHING unless you can afford to lose it to begin
with....i think refering to him as a con artist is harsh -
people have been wary of dot coms for awhile - it's nothing
new - so people make their own decisions and i don't believe
they can be *scammed* any more in this regard.....and if there
was true misconduct of funds, then i'm sure it will be
revealed and THEN the righteous anger can begin..... most of
you here don't even seem to be stockholders, and yet you're
all taking it more personally than ME! that's a little
weird.... |
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Yup, you're
right. |
Investicon
Jan-8-03 00:59
|
You are right about investing. Nobody should
invest what they can't afford. That's why we have suitability
questionaires to make sure people have the means and
sophistication to participate in an investment. Unfortunately,
this company just winked at the securities regulations and
focused on soliciting investments from unsophisticated,
unaccredited investors. Many employees and their families
invested.
Any sophisticated investor would require, at
a minimum, financial statements, pro-forma projections,
detailed disclosures about the management team, the
technology, related-party transactions, judgments, etc. The
company never published any financial statements or pro-forma
financial projections. The disclosures presented at the time
of the "merger" did not disclose the staggering debt and
judgments owed at the time. The stocks were mostly sold on
unsubstantiated, wildly exaggerated, optimistic, unrealstic
hype.
No reasonable, experienced investor would have
invested in the company. But a number of honest, good people
put money into a deal that was doomed by design (or lack of
design). I guess that's why the securities law try to protect
unsophisticated investors.
By the way... you invested
money. Why? Were you conned? What investigation did you do?
Bankruptcy: you wonder why the company has not filed
for bankruptcy? It is real simple: (1) there is little
prospect for the company to reorganize without substantial
investment that will take out the existing debt AND provide
working capital to get the ISP/advertising model going and (2)
in a liquidation, the first thing that will happen is the
creditors will sue DeMaio and other insiders to avoid
preferential payments. In other words, all of the money paid
out to DeMaio in the last 180 days will come back to the
estate to create a fund for the creditors. The estate would
not need to show any improprieties to avoid the preferential
payments. Therefore, bankruptcy is probably not in the best
interest of DeMaio and other insiders, even if it is best for
the company, the creditors (including employees), and the
shareholders. |
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Labor board
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employed
Jan-7-03 14:58 |
The labor board hasbeen contacted according to
recent articles in the paper - 11 so far and more comming
in-as for genius, then how come if this man can produce genius
how come he cant produce peoples paychecks and legit
financials, or sorry the paychecks have been produced-its just
the bank didnt have enough money on hand to pay these people.
Right the bank has no money on hand-the man cant keep his lies
straight-you know the old saying "IF YOU TELL A LIE SO MANY
TIMES IT BECOMES THE TRUTH"
I will tell you this these
so called truths will be brought out in the open and this man
will be exposed for the weasel he is.
RUN BOB RUN
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guest
Jan-7-03 15:01 |
11??? out of 100 or so people laid off??
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Labor board
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guest
Jan-7-03 15:25 |
Read the articles 11 right now and more coming
in the Labor Board has to check out the validity of the
claims-as for the amount of people laid off we will never know
he has stated a different number each time of emoployees that
are still working read the articles in the rgj.com and
tahoebonanza.com 18, 46, 60????How many I dont know nor does
BOB DEMAIO |
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stocks |
sucker
Jan-7-03 14:48 |
Just think if the discussions are one
sided-dont you think that all these one sided complaints are
legit-
as for the stock - any big investor who has
sunk money into this stock while it was privately held has a
big red "NOT TRADEABLE" stamped on the certificates. If you
look close enough you will see on the site thestreet.com the
stock price is for tradeable shares only-the man(BOB) owns the
majority of the tradeable shares-and with all of his financial
trouble he has to sell these stock to pay people so he can
avoid the law and labor board
Also if you read some of
the press releases you will find out the "THE COMPANY" has
issued a buyback program over the next 6 months or so-
SO here is the picture for those of you who cant see
it to clearly.
BOB DEMAIO sells his shares for
whatever he can get to pay employees, pay bills, pay lawyers,
ect.- and since he owns over 70% of the shares he never loses
control of the company, so he is still making the decisions.
The company then buys back the shares in the next 6 months
assuming BOB makes this thing work-then later on the board
consisting of all of his underlings issues shares to BOB
DEMAIO for a good job of running the company and keeping it
going.
BREAK IT DOWN
1. BOB SELLS STOCK PAYS BILLS
2. THE COMPANY BUYS BACK STOCK WITH OTHER
SUCKERS(INVESTOR)MONEY
3. THE COMPANY BOARD ISSUES BOB
SHARES AS COMPENSATION FOR RUNNING THE COMPANY, SO BOB NEVER
LOSES CONTROL OF THE COMPANY
This 3rd part hasnt
happen yet but it will |
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ya, ya, ya, Bob
|
who?
Jan-7-03 14:42 |
O.K. Bob, whatver |
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genius? |
guest
Jan-7-03 14:40 |
Real time bidbar: why not just use Outlook?
receive Emails when someone bids on something. Outlook has its
own organizer anyway, why would you want to download some crap
utility that does the same thing only with bugs that haven't
been fixed.
Dial up program: why not just go DSL?
Dot1web email: their email webpage is not secure. When
you sign up, they send you your password in plaintext. They
send your credit card number plaintext. |
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LOL |
Guest
Jan-7-03 13:42 |
Are you serious??? Ignorance is Bliss.....
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