The Real Scoop on Ethos
The sharp minded skeptics at Quatloos have discovered through the SEC filings that Ethos lied about their sales figures.
It appears that Ethos has been losing money from the beginning, and that according to documents filed with the SEC,
"Victor Industries to the Securities and Exchange Comission regarding their proposed merger with Ethos Environmental Inc (http://www.secinfo.com/d18hJx.v3c.htm#1stPage). Here are the real sales figures for Ethos FR:
2003: $ 198,8122004: $ 332,7802005: $ 1,780,825
2006 (1st half): $2,711,762
EEI's auditors also comment that "the Company has experienced recurring losses from operations and has a substantial accumulated deficit. These conditions raise substantial doubt about the Company's ability to continue as a going concern."
Maybe they should simply declare themselves to be a web 2.0 company engaging in social networking and get a postive rating from Fred Wilson.
Technorati Tags: sec filings, ethos, social networking, quatloos, fred wilson, 1stpage, http, eei, exchange comission, skeptics, merger, victor
Technorati Tags: sec filings, ethos, technorati, social networking, quatloos, 1stpage, http, eei, exchange comission, fred wilson, skeptics, merger, victor
Read More From BizOp News
June 8, 2006
Magic Gas Pills Round (2) 4-Ecorp
Once again, we are fortunate to be saved from our desire to believe in weird things, like the 4-Corp magic gas pills, by the sound thinking of Tony's Guide to Fuel Saving. It is pleasure to read such well thought out, reasoned, and researched analysis. Here, I quote from the summary, but please don't just read the summary, review the entire page to understand the time and trouble Tony has taken to provide great due diligence on this business opportunity. (There is another nice debunking here.)
Here is what Tony concludes.
* The product was apparently primarily designed as a way to reduce diesel emissions
* The theory does not, to me, seem to support expectations of large economy improvements
* The test data is predominantly related to diesels, and predominantly smoke - economy improvement on gasoline engines does not automatically follow
* CARB's largely negative results from testing D-1280X point to Ethos FR also being of limited benefit
* The media reports seem inconclusive and their tests lack scientific rigour
Now would the new FTC Business Opportunity Rule, which would cover multi-level marketing, have required this analysis? If not, would it provide other equally trenchant and useful analysis?
Technorati Tags: gasoline engines, diesel emissions, due diligence, fuel saving, diesels, test data, ethos, business opportunity, ftc business opportunity rule
