Scam flavour of the day : aka Hotel Management Systems Inc. (TUCN)

Saturday, 05 April, Year 6 d.Tr. | Author: Mircea Popescu

It all started, like you know everything starts these days, on IRC :


That's an impressive page, it goes like this :

Management Team

Charles W. Allen, CEO
Charles W. Allen, is our Chief Executive Officer and Chief Financial Officer, and director since February 2014. He is responsible for our overall corporate strategy and direction as well as managing our corporate finances. Mr. Allen has extensive experience in business strategy, investment banking and capital markets transactions. In addition, he started his career as an engineer in the telecom industry and brings a balance of business and financial leadership and technical proficiency to the Bitcoin Shop Inc. team. Prior to joining Bitcoin Shop Inc. he worked domestically and internationally on projects in technology, media, natural resources, logistics, medical services and financial services. Highlights include Managing Director at RK Equity Capital Markets LLC, Managing Director at TriPoint Global Equities, LLC, and Managing Director at Broadband Capital Management LLC all boutique investment banks focused on advising and raising capital for small and mid size companies. He received a B.S. in Mechanical Engineering from Lehigh University and a M.B.A. from the Mason School of Business at the College of William & Mary.

Michal Handerhan, COO
Michal Handerhan, is our Chief Operating Officer, Chairman of the board of directors and co-founder. He supports both our business and research and development strategy across the management team. From February 2011 through February 2014 he served as an independent IT and web services consultant to the National Aeronautics and Space Administration (“NASA”). From October 2005 until February 2014 Michal was the President and CEO of Meesha Media Group, LLC, which provided high-definition video production services, Web 2.0 development, database management, and social media solutions. From March 2002 through October 2006 he served as a team leader for NASA in their Peer Review Services group. Prior to NASA Peer Review Services Michal served as the web developer for Folio Investments. He received B.S. in Computer Science from Czech Technical University.

Tim Sidie, CTO
Tim Sidie, is our Chief Technical Officer, a director and co-founder. He is responsible for our technology strategy and platform architecture. From May 2013 through February 2014 he was a Software Engineer II at the Space Telescope Science Institute supporting Hubble Space Telescope and the James Webb Space Telescope projects. From June 2011 to July 2013 he was a Software Engineer at NASA's Goddard Space Flight Center for the Direct Readout Laboratory, building software for earth observing satellite systems. After obtaining his Computer Science degree and prior to 2011, he was a Support Engineer for Sourcefire, Inc., providing emergency response services to large corporations on security issues. He attended the University of Delaware from 2006 to 2008, and completed his B.S. in Computer Science from Ursinus College in 2010.

Charlie Kiser, CMO

Charles A. Kiser, Jr., is our Chief Marketing Officer and is responsible for our marketing and business development strategy. He’s worked at early and growth stage private and public companies for 15 years in management and c-level roles in marketing, sales, business development and operations. Highlights include Chief Operating Officer and Director of Corporate Strategy for 60 Degrees Pharmaceuticals LLC, a Washington DC pharmaceutical company, Director of Sales and Business Development for Apiphany Inc., an early stage application programming interface management company, (acquired by Microsoft Corporation October 2013), Vice President of Sales and Business Development for FortiusOne Inc., a web mapping and analytics company later renamed GeoIQ. He’s an Advisor to several early stage startup companies in the DC region, and a Venture Mentor for AccelerateDC, the Washington, DC Economic Partnership Mentorship Program. He graduated from West Virginia University in 1987 with a B.S./B.A. Degree in Finance.

Nice, huh ? Definitely doesn't sound like everyone else. And yet...

Also on that page, there's a list of SEC filings. It goes back all the way to 2008, wherein we find this baby : S-1 - General form for registration of securities under the Securities Act of 1933 2008-05-29 S-1


(Exact name of Registrant as specified in its charter)

Hotel Management Systems, Inc ? That sounds vaguely familiar, in a BIT:BET or should we say GTRL sort of way.

And indeed it is : TUCN has a few bright spot in its five-and-change year long history :

1 Year Return %: -72.97%
3 Year Return %: -410.81%
5 Year Return %: -98.72%

Can you spell "dump and dilute" ? The people that managed a weighted alpha of -60%i certainly can.

So, dear "investors" - have you done your due diligence yet ? It's really easy to do, it goes like this :

mircea_popescu punkman and yet they're not in here.

That's really all that matters. SEC filings don't count for shit in Bitcoin. Are you registered in the WoT ? Are you present on #bitcoin-assets ? What do the people that matter in Bitcoin have to say about you and your credibility ?

Enjoy the new world order. It is not a matter open to debate.

  1. Which means, they captured about 60% of the movement of their broader industry, except in the other direction. []
Category: Bitcoin
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4 Responses

  1. thestringpuller`s avatar
    Saturday, 5 April 2014

    Oh wow. It's funny how I ordered a tablet from this site with some spare BTC. Probably one of the worst customer service experiences of my life. Very reminiscent of MTGox so called "all star 24/7 support". (Why do people even claim 24/7 support with no listed phone number?!?)

    I think you're better off buying and Amazon or New Egg gift card for BTC via WoT...

    I'm glad to see the final nail is going into their coffin.

  2. Mircea Popescu`s avatar
    Mircea Popescu 
    Sunday, 6 April 2014

    How long they been around anyway ?

  1. [...] The censure of the guilty. Like this or this or I could be here all day. You may flatter yourself to think that "simple words" are [...]

  2. [...] aka Hotel Management Systems Inc., noting that due dilligence in the Bitcoin space is in fact as simple as showing up in #bitcoin-assets and actually reading the log + asking intelligent questions16. (2014) [...]

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