The AGS-OTOW Financing Con
OTOW will never get a penny from AGS Capital. In order to get $50 million in financing from AGS Capital, OTOW will first have to file an S-1 and then they will have to get that S-1 approved by the SEC.
Since OTOW is a non-SEC reporting ticker that S-1 filing will never happen. OTOW doesn't want to be put under the microscope of the SEC which is why they filed a Form 15 to voluntarily terminate the registration of their stock in April of 2010 hiding on the OTC where filings are unregulated instead.
If they ever did file an S-1 I guarantee that it would never get approved.
The PR about the $50 financing was just a ploy to bring in buyers for OTOW insiders to dump shares. Worked like a charm too. Brought in over 323,000,000 in volume and the stock barely managed to finish one tick above where it started.
OTOW has been diluting shares for weeks now as the share price has fallen. From 913,103,284 shares outstanding on June 30, 2012 to 2,265,939,418 shares outstanding on September 18, 2012 (an increase of 1,352,836,134 shares in less than 12 weeks).
Anyways be careful here. I've seen lots of dirty tickers use similar misleading PRs about AGS Capital that ended up eventually getting suspended or saw huge loses after the announcement.
Some examples include PGIE, CMEY, SMNG (all suspended after announcing financing from AGS then never filing the S-1 to make it happen)
PAPA - announced financing from AGS in May of 2012 and never did the S-1 filing - stock has fallen from $.25/share to $.007/share since then.
IRCE - announced financing from AGS in January of 2012 and never did the S-1 filing - stock has fallen to $.0008/share
CAGR - announced financing from AGS in April of 2012 and never did the S-1 filing - stock has fallen from $.003/share to $.0008/share since then.
APII (now WAFR) - announced financing from AGS in May of 2012 and never did the S-1 filing - stock price has fallen from $.16/share to $.04/share since then.
MDCE - announced financing from AGS in April of 2012 and never did the S-1 filing - the stock price has fallen from $.0025/share to $.0005/share since then
SKGP (now WMXG) - announced financing from AGS in March of 2012 and never did the S-1 filing
I can go on and on and on. There are literally dozens of dirty penny stocks that announced financing agreements with AGS Capital with no true intent of ever doing the required S-1 filing to make it happen because they knew the SEC would never approve the S-1 from a non-SEC reporting shell and they didn't want to face the scrutiny of the SEC.
AGS Capital Group LLC (Allen Silberstein) helps scammy penny stocks to fleece investors by setting up financing agreements that they know can never realistically happen. This fake financing scam has been going on for around 3 years now.
AGS Capital Group LLC probably gets a guaranteed payment in shares for setting up the agreement even though the agreement will never actually be exercised, and there is probably some insider from the public shell that gets paid in shares as well for arranging the agreement. Everybody wins but the shareholders that actually believe that financing agreement is real and will some day really happen.
