Voices Suffocated by Pillows or Suffering From "Me-tooism"?

Can Conservative Podcasters Be Serious Public Stock?

FrankSpeech, the Mike Lindell founded broadcasting vehicle went public on

August 29th.

Normally with public announcements the markets get excited and investors and interested parties dream big and see visions of economic windfalls, but it seems FrankSpeech (OTC Pink: INCTD) may have been caught without wind in its sails!

The stock promotional materials state the following:

Over the past three years, FrankSpeech, founded by Mike Lindell, has emerged as a leading alternative for free expression. The platform has rapidly grown to attract 7.2 million monthly viewers and 150 million annual impressions. FrankSocial, its subsidiary social media network, supports over 70,000 accounts. With millions in advertising revenue and ambitious plans to expand its technology and recurring revenue model, FrankSpeech is poised for even greater success.

Like any investor I am interested in the “new-new” but I have a special place in my heart for anything which serves the “American Dream, American Ideas, American Conservatism and the American Constitution”. In many ways I had hoped for an excellent investment vehicle in FrankSpeech, but when digging into the details (those pesky details) I cannot envision INCTD (soon to be FSBN) to be a serious investment but can see emotional or “feel-good” the value in just talking a 100% flyer or throwing some money after “HOPE” and just see what happens.

I cannot envision INCTD (soon to be FSBN) to be a serious investment but can see the value in just talking a 100% flyer or throwing some money after “HOPE” and just see what happens.

Here is the monocular I am looking at FrankSpeech through (history first):

1. None of the numbers are anything to get excited about when it comes to see how FrankSpeech is going to make a difference or even move the needle.

August 17th of 2023 Mike Lindell held his “Mike Lindell Presents ‘Election Summit’: The Plan Revealed”. During this Summit we all were introduced to the “Flying Drone WiFi Sniffing Solution” to what we all already knew was real: The nefarious rat-bastards who really run our elections can see every vote at every single minute through various connected loopholes and backdoors into our election systems.

These flying saviors of devices were promised to help “expose the wicked” and help “take back our elections”. The end result was more like a paper airplane made out of river rock pave stones. DOA - Dead on arrival. Not only was there not a peep - but there was also not even a peep of a tiny peeper of a cricket. Nothing. Nothing for conservatives, but a hey day for the deep state, liberals and the establishment.

Because of the egregious infomercial over promotion, liberals went nuts writing laws, passing legislation and doing immediate executive steps to assure NO ONE could see the use Wi-Fi to determine if the various voting systems were actively connected to the internet. SCORE ONE FOR THE BAD GUYS! The good guys in this scenario did not move the needle (unless movement backwards counts).

Why this event sticks out in my head so vividly is during the wrap up, Joe Oltman (Mike’s preferred righthand man and the operator of Frank TV) talked openly about raising $20m to go public and promoted “we are going public”. Anyone who has even been through the process knows that such is a SEC huge NO-NO. Pre-promotion is a huge legal problem when not done within the confines of the SEC rules. However, what really “got my goat” was for this supposed “Election Summit” which was going to “Reveal Mike Lindell’s Plan To Save Our Elections” was viewers had to “pre-sign up” to get access to the “exclusive vent” which Mike hoped to reach a Billon Views. In short, you submitted your email to get an exclusive link to view.

Weeks before, both Mike Lindell and Joe Oltman conducted numerous ZOOM calls offering to pay “influencers FIFTY CENTS for each of their fans who used a link and gave their email to sign up”.

Those of us who have large audiences laughed at this, because even the simplest of minds know that’s selling out your viewers to someone else for fifty cent a pop.

Who would ever allow their audience to “go here and sign up for your exclusive link” for a fifty-cent commission when the end results are you just took your audience you built and handed them over to someone else to drop into their list for .50 cents! That in my book is betraying your audience and misleading.

BUT YOU HAVE TO NOW COMBINE THESE TWO THINGS:

When Joe Oltman used his car salesman tactic to get your email just to later use to promote stock it told me this was not a serious offering. This was someone looking to profit off the name and likeness of Mike Lindell.

It worked like this, Joe Oltman attached to Mike Lindell and saw an opportunity to ride it to a bigger cash out. Mikes infomercial called his “Election Summit”: which was really to sell $500 (or maybe $300) drones with Wi-Fi sniffing (some folks showed me it was a $3000 solution) used influencers to get you to hand over your email for an exclusive link to watch the “Super Election Saving Extravaganza” (my words) but at the end of the day NO ONE needed a special link to view, and your email was not even used as your log in. EVERYONE (including me) just found it on Rumble.

SO WHY WAS YOUR EMAIL NEEDED?

Now you may see. List building - nothing more - nothing less.

BUT WAIT THERE’S MORE IF YOU ACT NOW!

I tried to sit back and see if this whole deal panned out and was more than the Oltman used car salesman pitch combined with the world’s best pillow salesman. Don’t get me wrong, I love Mike Lindell, and he is a true American Hero. He has put up millions to fight for America and safe elections. But where did the money go?

According to Mike, he invested what may be $30 million dollars into FrankSpeech and when you look at the investors statements that operation may have netted 70,000 accounts. In purely financial terms that means Mike Lindell quite possibly spent $428.57 to gain each Subscriber. The possible (although unverified cross verified accountings at this moment) may show said subscribers may generate $5.00 each per annum in advertising revenues. For reference on the Estimated Revenue Per User (ARPU) see the attached chart.

Frankspeech is no Facebook, YouTube or Twitter and even if it was on value par with Snapchat the potential ad revenues would be about $630k. By the way - that estimate is close since in 2020 FrankSpeech had about $1.01m in revenues.

Let’s look at this a different way: Views model

Although Oltman early on put out egregious unverifiable numbers, the investment sheets show 7.2 million monthly viewers and 150 million annual impressions. Using this math IF the 7.2 million is actual viewers that means each unique viewer watches FrankSpeech programming 20.83 times ANNUALLY or ONCE every 17 and a half days!

But the numbers get even worse. IF the average viewer only watches one unique visit every 17 and a half days that means that person only comes back to FrankSpeech every 420 hours of PROGRAMMING ALREADY AIRED! (formula 7 days a week, 24 hours a day available etc.).

These are NOT numbers to get excited about!

Why is this nothing to write home about? An influencer with a modicum of reach will themselves as an individual reach 2.8 million views any given week, but yet it takes FrankSpeech a total roster of fine folks to reach that number in totality?

The answer in this MIGHT be evident when you look at the actual subscribers of FrankSpeech. (see inset)

Maybe the most trained broadcaster on FrankSpeech is Emerald Robinson but as you can see from their own published records she has a whopping 729 subscribers. Joe Hoft - 199 subscribers. Even some with 43 subscribers or even 1 subscriber?

SO WHERE ARE THE NUMBERS COMING FROM?

As hard as I try and with several talented people working on it, we cannot see any path to 150,000,000 views. Yes, it sounds like a big number, but until someone has an access key to the server stats it in really totally unverifiable. Next, IF there are legitimately 7.2 million unique monthly viewers, yet those viewers ONLY watch at best 2 days a MONTH for ONE SINGLE VIEWING EPISODE- where are they really spending their time?

The answer is evident when you dig: It’s RUMBLE (RUMBLE INC. (RUM))

Today FrankSpeech sets at $2.93 (as of this writing). It’s on the OTC or PINKSHEETS which has very, very limited true transparency. On the other hand, Rumble is on the NASDAQ sets currently at $5.28

Rumble is a BILLION DOLLAR plus ongoing concern and FrankSpeech is rated at $3.22 million which gives it a market cap of $116.18m (Rumble being 129 times more successful).

WHY MY CONCERN?

We have all seen Mike Lindell promoted everywhere. So he is a known value and entity. Joe Oltman has only told all of us he is “Second only To Google In Data Aggregation Size” but none of that can be verified. You see, when you are pink sheet trade the rules are much looser. FastCompany reports on FrankSpeech offering the following: “OTC securities are traded through broker-dealer networks, but aren’t as regulated as companies on larger exchanges. They tend to be less transparent and are often a much riskier investment, as they don’t have to meet minimum standards. They also generally have lower trade volumes, meaning it can be harder to sell the shares if an investor wants to get out. Most importantly, there’s dramatically less public information available about OTC companies, which makes them more vulnerable to fraud schemes.”

This is exactly why a literal used car salesman with no background which can be vetted in the technology space can somehow emerge as the Chief Operating Officer but what begs to be asked is IF Oltman was the tech superstar he told us all (noticeably absent from public legal documents claims now) who is really using who?

Is this really a vehicle for Patriot investors? Did Joe use Mike Lindell as a vehicle for credibility? Joe has left a path of former partners with uncomfortable issues and this makes me wonder if Joe’s former right-hand man which had pedophile issues (thanks Max for the heads up) during the same time around working with Joe, does Joe have what it takes to really be a COO that will lead a public company and assure its stock will rise to the spectacular benefit of its shareholders?

I CAN’T SEE IT HAPPENING!

No matter how much we all want any patriot backed enterprise to be successful, is there any way we can trust the leadership which would fool us to get our emails? Leaders not familiar with SEC and stock promoting laws and has heretofore not brought “the goods” for any or all patriots?

As for me, once again I think Mike Lindell has been taken advantage of and is being ridden like an old rodeo horse who has been put through the ringer. Mike deserves more, but this deal’s only value is the name and reputation of Mike Lindell and his massive “marketing email” list.

Will Mike make this opportunity in a public vehicle hum? No - he does not have the attention span or attention to detail needed to make is hum. So, this is left up to the horse Mike bet his future on - Joe Oltmann.

If his “proof” (post it notes of doodles and drooling) of Eric Coomer on that fateful Antifa zoom call is similar to his PROOF, he will make FrankSpeech a successful public company; then anyone and everyone who thinks this is the ticket to huge returns is possibly mistaken. I’m not and cannot give you investment advice and this should not be taken as any kind of investment advice, this is just how to do due diligence math and research to see “if this opportunity” is worth your investment.

For my money RUMBLE is the better choice and funny thing is you know most of those WHO FRANKSPEECH claims a hosts, but who are you really, really watching? RUMBLE. Stay with the proven winner - I did.

If you study the charts and track record, you will find FRANKSPEECH (INCTD - soon to be FSBN) was between 8 cents and 5 cents. Yes, they zoomed to $4.96 on or about the Mike Lidell announcement, but now sets at $2.97. Has the money of the ride up already been harvested?

That run up from a nickel to $4.96 looks awesome, but chances are many involved have already sold off quite a bit and made a killing. The real question is IF this is even $2. a share, can you make a killing? No one really knows, but in the end - on a company which some say has a massive, massive debt and tiny capital assets, you are hoping and dreaming BIG.

The various documents can be found here and go into this with your eyes wide open. Looks like FrankSpeech sold itself into this mix for about 3,700,000 shares of Preferred Stock. That’s less than $11m for what Mike Lindell MAY have plowed $30m into creating. In short, for a possible $12m payday they now have a $2.32m market cap (yep 6x less)

Of course, there was the 50,000 to 1 stock split but who really knows where the value in this deal lay - I for one don’t. SNIP from Yahoo finance “In addition to the change in the Company’s name, the Company has executed a one-for-fifty thousand (1:50,000) reverse stock split of its common stock. Fractional shares issued in connection with the reverse stock split will be rounded up to the next whole share.”

Mike Lindell is a true American Hero and deserves respect, but I cannot for the life of me see why he rides the show pony called Joe. Mike is free to some on live as is Joe to discuss this and “sell” is all on the future of FrankSpeech as a viable stock investment. Yes, the patriot world wants reward patriots but when such “huckster tactics” begin the process it set such a bad taste standard going forward.

Let’s be Frank - I’M NOT BUYING IT!

BTW, did you notice on the opening graphic of this article that FrankSpeech itself only has 1,780 followers of said channel? Maybe this is why they do NOT show any views counters of any of their programs since there are literally NO VIEWS TO SPEAK OF! The market will see through this. BTW, 2 employees? Who are they? Guess the folks they air do it for free? Who built this off who’s back?