Tag Archives: Pekka Somerto

Valkee Ltd collapses as predicted: All share capital lost

UPDATE: My original story has reached more than 500.000 800.000 readers.
See ILTALEHTI | KAUPPALEHTI | TEKNIIKKA&TALOUS | ILTA-SANOMAT etc.pp.

The finnish trade register has just announced, that the HumanCharger manufacturer Valkee Ltd has lost all of its share capital. That means, that all of the company’s ressources are depleted, and new capital is not in sight – not even theoretically.

valkee-bankrupt

In other countries, the firm would have to file for immediate insolvency or bankruptcy, which is regulated in the same chapter of finnish corporate law.  In Finland, however, business could go on for a while – under extreme conditions, as purchases must all be paid in advance, and credits are stroke off. All business partners are now informed officially, that Valkee cannot fulfil upcoming liabilities.

Because of the consequences, such a notification is usually done in the least possible moment. It may be driven by the fact, that management and owners can be held liable personally from now on, if they don’t declare the final state publicly.

If anyone has claims against Valkee Ltd, now is the time to demand.

Personally I think, that the company will exist on paper for a few months, until its chairman Timo Ahopelto resigns from the board of TEKES, Finland’s tax-financed innovation funding agency. TEKES has shot in more than 100.000€ last year into Valkee, despite the obviously desperate state of the company, which was strictly documented in the 2016 balance.

Probably it’s the political dimension of the case. The snail media will report more soon. The source is earlightswindle.com – just in case they “forget” it again. /-Ed.

Valkee ist pleite

Wie die finnische Registerbehörde PRH gestern mitteilte, hat der Ohrleuchtenhersteller Valkee Oy aus Oulu am vergangenen Donnerstag den Verlust des gesamten Stammkapitals gemeldet.

valkee-bankrupt

Während nach deutschem Recht die Gesellschafter zum sofortigen Insolvenzantrag verpflichtet wären, kann die Firma in Finnland unter Umständen fortgesetzt werden. Wegen der Auswirkungen auf die Geschäftstätigkeit (Einkäufe nur noch gegen Vorkasse, Kündigung von Kreditlinien, usw.) ist aber eine Insolvenz mit Gläubigerschutz und Sanierungsversuch oder ein direkter Konkurs wahrscheinlicher. [s. Abschnitt 20, §§23-25 des finnischen Kapitalgesellschaftsgesetzes: Stammkapitalverlust, Insolvenz und Konkurs]

Die Meldung über den Stammkapitalsverlust erfolgt in der Regel zum allerletzten rechtlich möglichen Zeitpunkt. Unterbleibt die Anzeige, oder erfolgt sie zu spät, können Geschäftsführung und Gesellschafter im Falle des Konkurses in Anspruch genommen werden. Hiermit zeigen demnach die Verantwortlichen bei Valkee an, dass sämtliche finanziellen Möglichkeiten ausgeschöpft sind, und sie nicht persönlich haften wollen.

Da das Schicksal von Valkee in Finnland wegen der Verwicklung der Regierung politische Bedeutung hat, könnte die Skandalfirma auf dem Papier noch fortbestehen – etwa bis zum Sommer 2017, wenn der Firmenchef Timo Ahopelto vom Leitungsgremium der Innovationsförderungsbehörde TEKES zurücktritt. TEKES hat im letzten Jahr noch über 100.000 € in Valkee nachgeschossen, obwohl die Geschäftsführung öffentlich zugegeben hat, dass die Ohrleuchtengeräte in Finnland unverkäuflich sind und der sinkende Auslandsumsatz maximal 1/4 der Kosten deckt.

Wenn Sie noch Ansprüche an die Firma Valkee haben, dann ist jetzt der Zeitpunkt, sie anzumelden. Das Zeitfenster kann sich bald schließen.

How to handle an unwanted blogger – the Valkee solution

Imagine the following: You have a company selling some unproven wonder treatment to naïve customers. You get maximum-level political support – even from the President of the Republic and the PM. You’re getting multi-million public and private funding enabling you to produce “research” to bolster your marketing.

But the target population still doesn’t believe you. An ugly makeshift website with an unfriendly blog draws as much attention as your glossy campaign. Although it is maintained anonymously, it has higher credibility. The facts presented there are a threat to your business, you want to get rid of that. What shall you do?

Here is, what Valkee Ltd did.

 

1. Send a threatening letter

in which you demand to shut down the website.

cease-and-desist letter by Valkee's CEO Somerto

 

If unsuccessful,

2. Let your lawyers send a threatening letter.

cease-and-desist by Borenius law firm

Luckily, you have Borenius, a leading law firm, at hand – at the expense of others.

 

If unsuccessful, start some

3. Text message stalking

somerto-sms1

Send the messages preferably in the morning (before 7:30 a.m.) or at night (after 8:00 p.m.). You may achieve a good shock-and-awe effect when the target is with the family, not expecting anything bad.

somerto-sms2

 

If unsuccessful, make a

4. Denunciation to the police.

The outcome may be disappointing (detailed description of the case here), because the website/blog does nothing illegal. The presented facts are correct, as you know.

 

Anyway, if unsuccessful, try a

5. Second complaint to the police

in which you decry the activities of that blog as a vital threat to your business. Urge the police to do anything soon. At least, it will keep the blogger busy and under pressure.

lawsuit2-4[1]

 

If all those methods are unsuccessful,

6. Hire a private investigator.

This may be outsourced to some of your pals. Their growing concerns about the failing investment could make them try a whole bunch of unconventional measures. You must convince them, that all negative publicity is caused by that blogger and his friends, not by your foul claims.

valkee-amateur-spies

Security expert Dave may find out interesting things about one’s personal life (cut out from the JPG above). Keep it for later use. But next time avoid leaking the memos, because of your sheer incompetence with web techniques.

  • Guessing game: Who hired David as a private eye?
    • Hint 1 (symbolic picture):
      (symbolic picture only)
    • Hint 2: it begins with M.

 

If still unsuccessful,

7. Contact the blogger’s employer.

This is, of course, a do-not for a civilized person. Use only if despair strikes. You may try to find out more details about your target. Or simply ask random things, to make clear you’re despicable enough to actually play that card.

Be aware, that the HR department may be used already to 3C-requests (criminals, crooks, and crackpots) due to the nature of that institution. Your questions may be redirected instead and cause further damage.

update: Pekka Somerto contacted my employer via phone and from a DNA welho.com e-mail (probably he changed it now to Elisa.fi). I received a HR call at home on my day off, and had to explain. An uncomfortable situation, as you may understand./-Ed.

 

If all is unsuccessful,

8. Leave the company

after all you’ve done.

thelastoneswitchesoffthelight

Your pals/investors could help with parachuting you into a leading position elsewhere – even with comparable pay checks.

valkeelisa

Then resume where you stopped: Selling flimflam devices. Enjoy life!

***

Surprise: Elisa Oyj sells Valkee-succeeding Oura crap

Some twists in the Valkee saga still may surprise me. That one is hard to comment:

Oura-Valkee-Somerto-Elisa

Oura-Valkee-Somerto-Elisa

[ background 1 ] [ background 2 ] [ background 3 ]

The Oura ring is another gadget linked to unfounded claims, misleading advertising, and Valkee. Elisa Oyj‘s new Business Development Director is the former CEO of Valkee, and multiple Valkee employees now appear at Oura, which original name is JouZen Oy. Valkee’s co-founder is listed among the inventors of Oura’s founding patents. Among JouZen/Oura leaders is Petteri Lahtela, from Valkee’s Japan operations.

A so-called butt-on-bucket constellation, with helping hands by good old boys.

The 3rd Relaunch of the Valkee Scam: “SummerLight”!

With worldwide sales nearing zero, the finnish earlight maker Valkee Ltd undertakes the next (and probably last) “relaunch” of its 10 year-old scam. The product is now called SummerLight. The accompanying website summerlight.com is a shady copy of the previous humancharger.com fraud.

valkee-summerlight-therapy-deviceNo further comment needed.

Update: Valkee’s scam sites won’t open w/ earlightswindle.com referrers. They also block me on Twitter. OMG. OMG!!1!

Valkee Ltd, Elisa Oyj and TEKES: Good Old Boys at Work

Valkee Ltd’s previous CEO Pekka Somerto has a new job, he tells at LinkedIn: Business Development Director at Elisa Oyj, a major finnish operator traded at the Helsinki stock exchange.

I won’t again talk about what I call his competitive relation with the truth, which he has publicly demonstrated at several occasions. I am just wondering how they took into account his performance as CEO of Valkee Ltd. Here the figure for his tenure, quite exactly that specific interval.

Valkee results in Pekka's tenure

Nothing against the new job. He is qualified. But at Elisa’s board of directors is Petteri Koponen. In the specific sub-commitee he is responsible for recruitment to the leading posts in the Corporation.

Koponen is founding partner of LifeLine Ventures, together with Timo Ahopelto, Valkee’s chairman. LifeLine is the lead investor in Valkee.

Ahopelto again is at the board of the tax-funded TEKES agency. And the biggest single Investment of TEKES goes into … LifeLine Ventures. As well as most of it investments. TEKES again has poured millions into Valkee.

Corporate governance, Finland style.

***

Personal note: To my knowledge, Valkee’s leaders have told investors and others, that I am a malicious person with an agenda to bring down Valkee. I may advise Elisa Oyj to look rather at the company turned down by a blogger, not at the blogger who turned the company down.

I have no specific hatred towards Somerto.

 

 

New (not so) independent study: Valkee’s HumanCharger is a placebo (Update)

The finnish earlight maker Valkee Ltd is putting all-in on the american market after plunging sales in Europe. Its product, the premium-priced placebo HumanCharger, is sold with wonder claims online by Walmart and others:

Walmart as a co-scammer!

  • Keep in sync, all the time: regular exposure to light helps maintain the rhythm of our natural body clock, so with HumanCharger you always feel “in sync”
  • Better sleep, better health: HumanCharger reduces the need for excess sleep and reduces food cravings associated with jetlag, tiredness and low energy levels

At the same time, the second independent study about the device’s effects (or the lack thereof) is published. The result … is the same as in all other placebo-controlled tests.

Independent trial: Valkee is a sleep and mood placebo

It is concluded that transcranial bright light, at times where conventional light therapy has phase-advancing properties, did not influence any sleep parameters differently than placebo.

This is by no means surprising, as the first independent trial, published in November 2013, came to similar conclusions with a somewhat different methodology. Valkee’s HumanCharger has no effects on circadian rhythms. The new independent study is from the University of Bergen, Norway. With 50 participants, it was adequately powered to detect any effects consistent with Valkee claims.

The company has admitted, that their earlight doesn’t have any physiological effect comparable to standard light therapy. Their own data also show, that it does not influence Melatonin or Cortisol like real light therapy. Now we know, it doesn’t improve or at least change sleep in any way.

The HumanCharger does not influence the biological clock.
No “better sleep. better health – sync with the sun”. It’s all made up.

Ironically, Valkee Ltd is just touring the US with exactly these false claims. The company has been presenting on the Consumer Electronics Show CES2016 from Jan 6-9 in Las Vegas. It would be interesting to see the reactions of any resellers, when they realize that the HumanCharger again is scientifically demonstrated to be humbug.

 

Update 1: I got the study pdf. Cool, that was fast! Big thanks to J. – and to all the other nice readers whose support I am experiencing regularly.

Update 2: According to the small print in the full text, Valkee Ltd paid 12.000 Euros for this trial. That’s more than for the ice hockey trial a few years ago. But they did not get full control over the results and the publishing. Literally a bad investment. (16.1.2016)

HumanCharger study done to counter critics, disappears again (X-mas special 4)

Dozens of hilarious details about Valkee Ltd’s HumanCharger scam go untold because they don’t warrant a full blog post. As a Christmas present, here are some of such pearls.

When Finland’s Valkee Ltd re-launched their earlight device in 2015 under its new name HumanCharger, there was an exceptional piece among all the PR articles which simply reuttered their press release.

Fierce Biotech criticism

This is the first placebo-controlled trial ever conducted for a bright-light device, the company said.[SIC!] The data may be designed, at least in part, to address allegations widely publicized online that the company’s product is a scam.

Stacey Lawrence of Fierce Biotech had a bright moment.

You may wonder how the company can be forced into a study because of this blog and a few articles elsewhere. And how could they possibly even succeed?

Simple as it is: Valkee bought the “evidence”. The study has disappeared from the net and Valkee’s websites again, but is still available in full from earlightswindle.com/gloom (PDF). The small-print in the last paragraph reads:

We would like to thank Clinius Ltd., an independent company, which conducted the study on behalf of Valkee Ltd.

The study is not done for any scientific purpose and as such unethical from the start. And it’s unclear who the real investigators were. Clinius is a company from Helsinki, Finland.

 

Stay tuned for the next part tomorrow, and the best of all on December 24th!

HumanCharger endorses Zapper scam (X-mas special 2)

Dozens of hilarious details about Valkee Ltd’s HumanCharger scam go untold because they don’t warrant a full blog post. As a Christmas present, here are some of such pearls.

Valkee recently retweeted a nice, very telling picture.

HeartMath, Zapper, Valkee!

The HumanCharger among other travel essentials. HeartMath and Zapper. – Wait, WHAT?

HeartMath

The HeartMath Institute claims to have technologies to reduce stress, give energy, etc.pp. It says to be built on science. It is detailed here on a professional website:
HeartMath BS

“extensive research and findings on stress, heart intelligence, coherence and the energetic connection between all things are featured”

No further questions. They tell that people’s hearts are magnetically interconnected and communicating. Read it in full on their site, which is quite impressive.

 

The Zapper

The Zapper actually doesn’t differ much in principal structure from the HumanCharger (see picture). As a notorious bullshit, it’s a textbook example for quack. It’s quite famous. People are buying these boxes from different manufacturers. If you have time, look at the site of Dr. Clark, mother of all zappers.

Excerpts taken from Dr. Clark’s : “The Cure for all Diseases” Book

It cures all diseases, right. Not making this up! All diseases are caused by the same single pathogen, an intestinal parasite. A worm, which then can be killed by such a device.

zapper variant

Evolution of scams

So there we have them in a perfect arrangement. Ingenious. I couldn’t have done it better – though I cited the Zapper scam from the very first day on earlightswindle.com.

HeartMath, Zapper, Valkee!

 

The Christmas Special continues tomorrow with a more serious revelation. Stay tuned!

Valkee Ltd doubles the bribe! (X-mas special 1)

Dozens of hilarious details about Valkee Ltd’s HumanCharger scam go untold because they don’t warrant a full blog post. As a Christmas present, here are some of such pearls.

Is there any positive Valkee review written without bribe changing hands? Usually it’s the device itself: Bloggers, journalists etc. get a “medical iPod” (Valkee slogan) for free. Though it’s totally useless compared to the popular music player, and it has no medical effect, it somehow looks nice and that’s what everyone writes after “testing” it.

The review won’t be negative, because it’s 200 Euro a piece. You’re made to think you’re one of the chosen few. Instead, Valkee has given out many hundreds of the “Chargers”. A logical move, as there are thousands unsold devices in stock, and any short blog post is worth more than the few Euros for the 2 LEDs.

With Valkee Ltd going its natural course, this idea metastatizes further:

 

Bribing the same writer twice

Valkee doublecrossed tech writer Robin Wauters back in 2013.

Robin Wauters Tech.eu

Now he has used the trigger words jet lag in a tweet and is provided with the second, identical device.

Robin Wauters bribe 2

Note the word borrow! After Slush 13, the honest one of all the “journalists” really wanted to return the Valkee device. It came out, that Valkee had no wish and no procedure to accept any such return.

 

Doubling the loot

To get rid of the stockpiles, the innovative Valkee Ltd just came up with a new breakthrough idea. Send two instead of one.

Rubbish twice No shit!!

The Christmas special continues tomorrow, with more Valkee buffooning.