Bayport International Holdings Inc. (BAYP)

[jeagerboy]

Son like father ?, see below he sure as hell selling them like his father hummmmmmmm

First an update on the current lawsuit against Louis Porter

BAYPORT PETROLEUM CORPORATION INC, Plaintiff, and
CARL MOORE, Plaintiff, and
DANIEL MOORE, Plaintiff, and
DR KENNETH MOORE, Plaintiff, and
MARY TROUTMAN, Plaintiff, and
CURTIS MOORE, Plaintiff,
v.
LOUIS PORTER, Defendant.

I spoke with one of the Plaintiff's via email and they told me the court action is over and the Plaintiffs won a $720,000 judgment against Louis Porter.

That same person told me that Louis Porter owns absolutely zero interest in Gem Inc.

Mr. Porter never made any claims of ownership of Gem Inc or the Mary Ann claims to the EXTO shareholders that I am aware of, but since some EXTO investors want to come up with their own claims (I think based on some information shared during the failed Bayport Corp/BYSD merger) I just wanted to set the record straight.


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I have also learned today that Grant Christensen has hired Utah attorney Robert A. McConnell to represent Grant against Louis Porter. They sent Porter a letter about 1-2 months ago canceling any and all dealings with his company. Porter worked out a deal with Grant for shares and cash then never gave him either one.


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Digging deeper into Louis Porter's past, it looks like these recent lawsuits against Lou Porter were not the first cases of fraud against him. Porter has been defrauding people for a very long time now.

Louis Porter's bio from the Cosmic Energy website gives us some information about Porter and past companies he was involved with:

http://cosmicgroup.wordpress.com/about/

Louis Porter / Chairman, Bayport Corporation

Mr. Louis Porter of Tulsa, Oklahoma is CEO and Board Chairman of Bayport Corp. He received a B.S in Petroleum and Natural Gas Engineering from Texas A&I in Kingsville, Texas 1970, now affiliated with Texas A&M. He was a member of the Sigma Tau and Alpha Chi honor societies – Sigma Tau Honor Engineer Alpha Chi Honor Scholastic. He worked five years with Arco as a Petroleum Engineer, Drilling, Gasoline Plant, Reservoir Engineering and Sales of LPG’s. Then Mr. Porter spent 5 years with Thermogas as its Transportation Director, as well as Operations Manager for purchasing wholesale and the retail selling of propane and butane for the entire network. Thermogas was the largest LPG distributor of LPG’S in the nation at that time until merged with Mid America Pipeline.

He started NGL Supply (Natural Gas Liquids) which later became Dalco Petroleum a Public Company in the United States and was 87% owner of Dynex Petroleum a Public Company across Canada and headquartered in Calgary Alberta. He was CEO & Major Owner of 87% of stock in the Canadian operation & CEO and President with 90% stock in Dynex USA. Dynex was very strong in Canada with sales reaching approximately 1 Billion dollars Canadian in oil and gas. Dynex successfully engineered a $75 Million revolving line of credit with Bank of Montreal.


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It was through his involvement with Dalco Petroleum back in the 1970s that Louis Porter was convicted of one count of conspiracy, six counts of mail fraud, eight counts of wire fraud, and one count of racketeering.

The court sentenced each of the defendants to five years on each count to be served concurrently, a total fine of $49,000, and ordered the forfeiture, pursuant to 18 U.S.C. Sec. 1963(a)(1), of the defendants' respective interests in Dalco Investments, which included an interest in the Dalco Building.

I'm not sure if Porter ever ended up serving any jail time, but the convictions stuck.

Let me preface this by saying I realize that this is old information from more than 30 years ago, but this very well could have played a roll in the BYSD canceled merger and in lieu of all the recent lawsuits and allegations of fraud against Porter and the fact that Porter is still involved in the Oil business, I consider it still very much relevant information that all shareholders should at least be aware of.


Here is a link to that litigation:

http://ftp.resource.org/courts.gov/c/F2/703/703.F2d.1186.80-2228.80-2227.html

703 F.2d 1186

10 Fed. R. Evid. Serv. 1489

UNITED STATES of America, Plaintiff-Appellee,
v.
W. Darrell ZANG and Louis Porter, Defendants-Appellants.