Jumping through hoops of fire.

Those of you that have contributed we thank you.  We have decided that this form of money raising my be deemed wrong in the eyes of the SEC – so we are halting all new contributions.  That being said – those that have contributed will receive a full  refund, please email me your receipt if you have contributed for a full refund to chipin@phantom.net

YES – we want to be cautious and follow every rule of the SEC and show that we can do this ourselves – we love our investors for helping but we need to do this one alone.

21 Responses to “Jumping through hoops of fire.”

  1. Well, we can still buy games and lapboards when they arrive.
    @Krays- can you repost that link to the SEC complaint section?

  2. Very well. Fight on!

  3. Scott (Calif) Says:

    Wowzers, wowzers, wowzers. What else is there to say. I guess good luck would be a good start, and please follow the rules. So, I know you all are formulating a plan to move forward. Has there been any good feedback from the SEC about letting you guys trade again soon?

    I bet the waiting is hard on you guys too… Keep us in the loop, well done on that this week, by the way.

  4. I hope you can do this one alone, if not, my dreams will be dashed! I want this to work and my prayer’s are with you. Maybe “MAINGEAR” or Golden Gate Capital can help!!! Please keep us posted as to the support you receive and the decision the SEC (keeping my cool when I utter those letters) makes. Please know that you have us pulling for you.


  5. Here you go NKJ – give em hell – I did, and every investor that has a stake here should also.


  6. I was planning on writing to the SEC, but it would be great if we could get a number of people here on the same page, because it might have more impact. And could they be making things any more difficult for small business right now?? We need people like John putting everything they’ve got into companies like Phantom to get the economy moving again!

    If anyone else is up for writing a letter or complaint to the SEC, I’m game.

  7. I can only imagine the frustrations and stresses the team has been going through. I do wish you the best in rectifying this. I invested in this company because I believed in the concept. I continued to invest because I believed in the team. I still believe in the team and have since seen the concept turning into reality. I pray for you and Phantom to continue forward.

    Good luck, God Bless, and please do keep us informed as you move forward. Thank you for all that you have shared and done up til now. Most would not have done the same in your shoes.

  8. krays,

    Thanks for the link. Just fired off a letter to the SEC expressing my disgust with this entire situation. Hope others will do the same.

  9. im not meaning to sound negative but i have support and been vested in this stock for 6 yrs and i honestly am at a loss, we will all be wiped out by the sec and thats just how it is. no one said the govt was fair.it will take a miracle for this to happen but john – if all this hard work is legit and all, you did a very good job. Trouble is we dont see any filings to know if this is legit at all. i dont know the rules of the sec but it dont sound very good at all. WHat happens if they dont let it trade anymore and the company comes back under a new symbol, are we granted our shares to to convert over, i hope to god this stock thing is fixed and john can make this product something to the people

  10. i’ll be giving the SEC my two cents. thanks krays for the link. John, thanks for the honesty and the foresight to know the SEC’s rules on this.

    I’ll take my $200 back and buy a lapboard or two.

  11. well, I’ll gues I’ll take my $200.00 and buy a LB or 2.

    How is the private labeling with ione coming along? I see they have the current packaging up on their sight for the Gemini S9 which is encouraging. Will they distribute directly from their own warehouses or is it a standard drop ship setup where they send you the orders for shipping?

    A company with such large distribution channels can get a lot of product moving fast and it looks like they distribute to retailers/wholesalers.

    Are you allowed to disclose the details of that relationship?

  12. Bob, great idea, a petition might be more useful. I’m game.

    How would we organize it. What would it look like? Who wants to take the lead on it?

  13. jpkin,

    I’d love to do a petition, but I’m not sure it would be effective or have the impact we need unless we got a large number of the shareholders involved. It could be something really simple like a web form that captures digital signatures or something like that; but my concern would be that it wouldn’t look very good if we only got a small number of people to sign. Best thing to do at this point would probably be the link to the SEC complaint form krays posted. I don’t know who looks at those or how seriously they take them, but as of right now, I’m guessing that’s the best course of action to take. I’ve already filed a complaint and letter of support for Phantom management, so maybe it would be a good idea for others here to do the same.

  14. A petition sounds great. I’ll sign it…

  15. Can I suggest that you convert the donation website/blog and utilize the micro loan feature of raising capital. There are a few micro loan websites that you can use to host your efforts of raising capital in the form of these loans. It’s simply another way of raising captital while opening up to a larger public for donations. As for the donations, I do not think it is illegal or unethical to receive donations from current stockholders; they are in fact re-investing their own money into their own investment. On another note, I’ve said this before to PHEI’s CEO; that he may want to consider using aggressive promotional advertising avenues (internet, e-mail, facebook, Youtube and Twitter) to stimulate more public interest in the product and the stock. You can’t just sit around and wait for the market to come to you; you need to go after the market!!

  16. We could learn alot from a similar company. http://www.madcatz.com/Default.asp?page=9

  17. Thanks for weblink krays will send off tomorrow. I think individual compliants and a petition is the way to go on this. Let’s do both! Keep me posted.

  18. I’m not a financial guy, but wouldn’t it be possible for a group of shareholders to form a “mutual fund” of some kind that would work as a loan to PHEI? Perhaps the fund/loan contract could entail that the loan amount would convert to stock once PHEI is re-listed. Seems like a loan like that organized by shareholders would be perfectly legal.

  19. So the 8th of July is quickly approaching. Will we see a change in results regarding the ability to purchase PHEI stock issues: or will there be another timeline excuse?

  20. Anything new with what’s going on with the SEC?

  21. So tomorrow is July 8th and we haven’t heard anything in a while. Any news?

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