actually for a chronological history of this debacle...hit these links...
GECC News Source Citations (Updated Yet Again)
Springdale Penny Stock Violates SEC Regulations 8/19/02 By Jeffrey Wood, Arkansas Business
"Misleading financial statements, suspicious relationships and a questionable lawsuit appear to have helped Golf Entertainment Inc. turn a company shell into a shell game...."
Transactions Inflate Value of Golf Assets By Jeffrey Wood Arkansas Business - 8/19/02
"Christmas Day — or the day after, depending on which official corporate document one consults — marked a supposed public auction that transferred assets from an entity called the Genesis Trust to Golf Entertainment Inc...."
GECC Ties Show Criminal Histories By Jeffrey Wood Arkansas Business - 8/16/02
"Three of the five principals involved in suspicious public company activities related to Golf Entertainment Inc. in Springdale have prior criminal records.
Jim Bolt, who since December has assumed numerous titles in company documents including chief operating officer and vice president/chief financial officer, has three convictions on six felony counts dating to 1975...."
Golf Quarterly Report Verifies Lack of Cash By Jeffrey Wood Daily News - 8/21/02
"Golf Entertainment Inc., the Springdale penny stock that’s under investigation for apparent violations of Securities and Exchange Commission regulations, on Tuesday filed a first-quarter report that appeared to contradict earlier claims about the company’s financial position...."
Golf Entertainment Evicted from Headquarters By Jeffrey Wood Daily News - 8/22/02 4:01:41 PM
"Golf Entertainment Inc., the Springdale penny stock that’s under investigation for an apparent conspiracy to defraud shareholders, was served on Thursday with a notice of eviction from its headquarters at 1008 Clayton St....."
[NOTE: Viewing the articles cited above requires (free) registration on the arkansasbusiness.com Web site.]
Internet provider sues company over stock BY MICHELLE BRADFORD AND ALEX DANIELS
"SAVANNAH, Ga. — Owners of an Internet service provider have sued Springdale company Golf Entertainment Inc., contending that its principals — three men with a history of suing officials in Northwest Arkansas — have tried to stop them from warning investors about an alleged stock manipulation scheme by the publicly traded Golf.
Carla Hohenhouse and Daniel Johanning sued on Monday in U.S. District Court in Savannah, Ga. Defendants are Jim Bolt, Golf’s chief financial officer and a convicted felon; John Dodge, Golf’s lawyer and a parttime judge in Benton County; Tim Brooker, Golf ’s chief executive officer; and one to 25 "unknown" others...."
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