Spectrum Acquisition Holdings, Inc (SPAH) is a Nevada corporation, first incorporated on March 16, 1987 under the name "First American Railways, Inc.". Over the years its name has changed various times until in September 2007 the Company name was changed to "Spectrum Acquisition Holdings, Inc.".
In April 2008 the Company performed a triangular reverse merger with Western American Mining Company the majority shareholder and WAMC Cloud, Inc. At this time the combined company name was changed to Spectrum Acquisition Holdings, Inc.
Prior to the merger the company was named Western American Mining Company and its common stock traded on the pink sheets under the symbol WAMC.
On September 24, 2010, Spectrum Acquisition Holdings, Inc. purchased one hundred per cent of the
membership interests of Avalon Perspectives LTD, LLC
The Company is currently in the process of performing product raising equity capital and seeking acquisition candidates to accomplish its growth strategies. The Company intends to conduct business in mining service industry with a focus on green technologies that create the smallest ecological footprint possible.
Dale Henry - CEO/President
Spectrum Acquisition Holdings
4301 W. William Cannon Dr.
STE B-150 #253
Austin, Texas 78749
Email: [email protected] Info
IMPORTANT DD: Spah history prior to R/S Oct.2011 as compiled by nodummy
ISIM / USOG / SPAH / MNDP / GELV / HHGI / WNCG
I have found several individuals connected to this group of companies
Some of the main names include:
Edward J da Parma (a former partner at Sayid and Associates LLP)
David Sayid of Sayid and Associates LLP
Matthew Maza of Cident Law Group
The Good One Inc (Michele McDonald and June Stevens)
Kaleidoscope Real Estate Inc (Barbara Farr and Nickole Coleman)
Executive Support & Services Group, Corp (Edward J. Da Parma)
Kytin Holdings LLC (David Sayid)
Tech Development LLC (Edward J. Da Parma)
Acadia LLC (Kristen Perry)
Amber Sunset Ventures, LLC (Kandee Coleman)
Freedom Rock Partners Inc
Basically the way the group operates is that Edward J da Parma and/or David Sayid and/or Michelle McDonald will gain control of these shells then the enrich happens two fold.
Part 1) They set up a lucrative compensation arrangements for services - legal counsel services, accounting services, consulting services, etc.
Part 2) They create brand new business entities which they use to set up some kind of nominal business operation then within a matter of weeks they sell their brand new business entity to the publicly trading shells they control for multi-million dollar convertible debt Notes which can accrue interest and can be converted into discounted shares.
I will be exposing the actions of this group in a multi-part research post one company at a time.
Part One - ISIM can be found here:
Part Two - USOG can be found here:
Part Three - SPAH
The beginning of SPAH is almost identical to the beginning of USOG.
You could put the SPAH initial company disclosure filing side by side with the USOG initial company disclosure filing and it would almost be like looking in a mirror.
Western American Mining Company was set up as a Nevada Business Entity on May 18, 2007.
The initial officers of Western American Mining Company were Alex Tawse (President, Treasurer, and Secretary) and Keith Fields (Director).
The beneficial shareholders of Western American Mining Company were The Good One Inc and Kaleidoscope Real Estate Inc.
In January of 2008, Western American Mining Company purchased majority ownership of Spectrum Acquisition Holdings Inc (SPAH). After the change of control of the shell a 20 - 1 forward split and raised the authorized share count to 100,000,000.
In April of 2008, Western American Mining Company merged into Spectrum Aquisitions.
Dave Lindemann became the CEO of SPAH
Keith Field became a Director of SPAH and a consultant
Matthew Maza through his firm, Cident Law Group was hired as legal counsel for SPAH and added as the Secretary of SPAH.
The Good One Inc (Michele McDonald and June Stevens) and Kaleidoscope Real Estate Inc (Barbara Farr and Nickole Coleman) became beneficial shareholders and consultants.
The Good One Inc (Michele McDonald and June Stevens) earns $20,000/month for consulting services.
June 30, 2008 beneficial owners list mirrors that of USOG also:
Dave Lindemann 500,000 shares
Keith Field 2,000,000 shares
The Good One Inc (Michele McDonald and June Stevens) - 15,000,000 shares
Kaleidoscope Real Estate Inc (Barbara Farr and Nickole Coleman) - 15,000,000 shares
Consulting fees and Services paid in 2008:
Dave Lindemann - $60,000 for services
Keith Field - $63,500 for services
Matthew Maza - $20,000 for services
The Good One Inc - $232,500 for consulting
Kaleidoscope Real Estate Inc - $155,000 for consulting
In October of 2009, Dale Henry replaced Dave Lindemann as the CEO of SPAH
Edward J da Parma and David Sayid entered the picture on the beneficial owner's list for December 31, 2009
Tech Development LLC (Edward J. Da Parma) - 5,000,000 shares
Kytin Holdings LLC (David Sayid) - 5,000,000 shares
The Good One Inc - 3,750,000 shares
Keith Field - 2,000,000 shares
In May of 2010, David Sayid of Sayid and Associates LLP became the new legal counsel for SPAH
In April of 2010, SPAH raised the authorized share count from 100,000,000 to 1,000,000,000
September 24, 2010, SPAH work out terms for the acquisition of a 7 month old business entity called Avalon Perspectives Ltd, LLC. Avalon Perspective was set up by SPAH insider and paid consultant, Michelle McDonald of The Good One Inc. The Good One Inc sold SPAH ownership of the recently created business entity in exchange for a $2,200,000 debt Note. That debt Note earns 5% interest annually.
SPAH has never made any payments towards that debt Note and over the course of its life that Note has accrued $84,082.20 in interest as of June 30, 2011.
This $2.2 million note matured on March 24, 2011 and can now convert to free trading common shares discounted to 30% below the average bid price of the stock over the previous 3 trading days limited to no more than 9.9% beneficial ownership at any given time.
The asset SPAH gained by purchasing Avalon Perspectives was the rights to mine the unpatented Graham Gulch mining claim. Those rights didn't come for free though. On top of the $2.2 million debt Note, SPAH purchased the rights to the Graham Gulch mining claim for $112,493 to be paid in monthly installments of $1,541.00/month over a period of 73 months.
The Graham Gulch mining property is essentially worthless because development of the unpatented Graham Gulch mining property located in Northern California not possible because of California SB 670 which places a moratorium on dredging in that area. SPAH issued a $2.2 million debt Note and is paying $1,541.00/month for nothing, but insider enrichment.
Fees and Services for 2010 from the 2010 annual report
Dale Henry - $75,000 for services
Matthew Maza - $25,614,50 for services plus 47,589,000 shares for past services due.
The Good One Inc (Michelle McDonald) - $240,000 for consulting plus 55,000,000 shares for past consulting fees due.
Amber Sunset Ventures, LLC (Kandee Coleman) showed up as a beneficial owner on the 2010 annual report.
On January 17, 2011, Matthew Maza resigned as the Secretary of SPAH
In 2011, Bill McFarland shows up as a consultant for SPAH, but no details are given as to how much he earns.
On March 24, 2011, the $2.2 million convertible Promissory Note issued to The Good One Inc (Michelle McDonald) for the purchase of Avalon Perspectives Ltd, LLC and its worthless mining property matured and thus could start being converted into free trading discounted shares.
As of June 30, 2011, the Note had earned $84,082.20 in interest.
Since March of 2011, the SPAH share count has been steadily rising mostly due to the issuing of discounted shares towards past debts owed to insiders.
The share price sank all the way down to $.0001/share by early October of 2011.
Then on October 5, 2011, SPAH executed a 1-10,000 Reverse Split
As of June 30, 2011, SPAH had almost $2.4 million in Debt Notes and interest owed. SPAH also had almost $500,000 in accounts payable for past services and consulting fees unpaid.
The future for SPAH is simple to predict. Lots of shares being issued towards debts owed to insiders causing the share price to quickly drop.
SPAH Security Details
|Market Value1 ||$201,272 ||a/o Nov 30, 2012 |
|Shares Outstanding ||251,590,366 ||a/o Sep 30, 2012 |
|Float ||167,586,139 ||a/o Aug 20, 2012 |
|Authorized Shares ||1,000,000,000 ||a/o Jun 30, 2012 |
|Par Value ||Not Available |
|Shareholders of Record ||198 ||a/o Aug 20, 2012 |
From latest Quarterly report Nov.2012
The Company has been issued the following patents :
Laser Guided Diamond Wire Cutting Saw.US 7,755,013 B1, July 13, 2012
Refractory Ore Bio-processing Apparatus . US 7,842,228 B1, November 30, 2010
Mixing, Milling, and Aeration Apparatus for Digesting Metal Ore with Bacteria, US 8,262,984 B1, September 11, 2012
Note 8 - Subsequent Events
The Company engaged SHN Consulting Engineers & Geologists, Inc.(the "Engineers") in April 2012 to evaluate access and excavation methods best suited to assess mineral deposits at the Graham Gulch unpatented mining claim.
The site evaluation was delayed because of weather and road conditions in the area, more specifically snow in the area.
The Engineers travelled to the Graham Gulch mining claim and completed their evaluation in August 2012. They found that access to the claims was limited. The Seller of the claim had advertised that there was a hard packed dirt road, that access to the property was "easy" and that a 4 wheel drive vehicle was not necessary. All of which was found to be untrue.
The Seller also had advertised that the property provided for deep and shallow dredging. Dredging had been outlawed in August 2009 by the State of California SB 670, one year before the Company's purchase.
The Seller was notified of the Company and Engineer findings August 30, 2012. The Company asked the Seller what concessions were they willing to offer to correct their misrepresentations. The Seller denied the allegations.
A formal letter was sent by the Company's legal counsel to the Seller on September 20, 2012 demanding repayment of all monies paid by the Company for the claim. The Seller negatively responded to the demand letter on September 28, 2012.The Company did not make the payment for the mining claim that was due October 1, 2012. The Seller unilaterally terminated the purchase agreement on October 6, 2012.
A third attempt was made by the Company on October 9, 2012 to resolve the issues of misrepresentation by the Seller of the Graham Gulch Claim.
The Company plans to vigorously pursue any legal course of action against the Seller including filing a civil lawsuit, and filing a complaint under California Business and Professions Code § 17500
et seq. Sections 17500, 17500.5 and 17505 which prohibit false advertisements.