DD Support Board and Research Team

[nodummy]

CGAQ - I don't trust CEO's enough to go to them for information. Thanks for the suggestion though.

Before I get any where near close to researching the current claims by CGAQ I want to research their history and their filings. Press releases are no where near as important to me as the information I can dig out of the filings.

I've gathered that Steve Swank took over the Aladdin Trading & Company shell in or around February of 2009 through a share purchase agreement.

We aren't given all the details of the agreement (like how much Swank paid for the shares), but we are told this:

On February 13, 2009, Alladdin and Company Trading signed a share acquisition agreement with Caribbean Gaming and Acquisition Corp. a Florida corporation and on March 3, 2009 the company changed its name to Caribbean Casino & Gaming Corporation at the same time it effected a merger/re-domicile to the State of Florida.

As a result of the acquisition of Caribbean Gaming there will be a change of control and 55,000,000 new common shares are being issued to Caribbean Gaming shareholders and 5,000,000 new preferred shares were issued to the principal shareholders of Caribbean Gaming and Acquisition Corp., Steven Swan and Armando Cascati. In addition, approximately $57,500 on convertible notes has been converted into common shock as a requirement of the agreement of share acquisition which totals 11,402,000 shares.


Here is the corresponding Florida business entity:

http://sunbiz.org/scripts/cordet.exe?action=DETFIL&inq_doc_number=P07000117511&inq_came_from=NAMFWD&cor_web_names_seq_number=0001&names_name_ind=N&names_cor_number=&names_name_seq=&names_name_ind=&names_comp_name=CARIBBEANGAMINGACQUISITION&names_filing_type=

Originally known as World Poker Tour Dom Rep Inc, Caribbean Gaming and Acquisitions was incorporated in the state of Florida on October 25, 2007 by Steven Swank:

http://sunbiz.org/pdf/20366502.pdf

On February 20, 2008 Swank changed the name of the corporation to Caribbean Gaming and Acquisitions Corp

http://sunbiz.org/pdf/18292524.pdf

In 2008 Scott Swank (maybe brother of Steven?) showed up as the CEO of the corporation in the filings.

The corporation briefly went into default per the late filing of their annual report, but paid to be reinstated in November of 2008.

On December 29, 2008, Scott Swank resigned as the CEO apparently disappearing into the background or leaving the picture all together.

http://sunbiz.org/pdf/39223515.pdf


According to the OTC filings, Caribbean Gaming and Acquisitions Corp has a subsidiary company called Caribbean Gaming and Acquisitions, Inc. which in turn has two subsidiary companies registered in the Dominican Republic - World Poker Tour S.A. and Orion De Sosua S.A. which hold a Texas Hold-Em and Gaming licenses in the Dominican Republic.



Now here is one part that is a bit confusing to me. According to the quarterly reports, CGAQ was making some money off of their Casino operations (presumably through their subsidiary companies).

So why was CGAQ doing frequent 504 offerings arranging the sale of free trading stock at 50% of the trading price? If they were making money through operations why the need to issue super discounted shares to raise capital and hurt the CGAQ investors?

From June 12, 2009 - September 14, 2009, CGAQ arranged the registration of free trading stock at 50% of the current trading price for Mazuma Holdings 16 separate times.

That is 16 times in about 14 weeks.

Mazuma Holdings is of course connected to Charlie Mayo and Curt Kramer. Mazuma Holdings has an infamous connection to SPNG because of their active involvement in selling SPNG shares which they received at a 50% discount.

But it didn't end in September of 2009.

CGAQ found a new dilution partner in March of 2010, Half Moon Advisors, a company run by Matt Morris:

http://www.linkedin.com/pub/matt-morris/20/8b9/3

Matt Morris, through his company Half Moon Advisors, has been getting free trading shares at a 50% discount for over a year now.

All total through March 16, 2011, Half Moon Advisors has been involved in the purchase and resale of 61,308,325 shares always getting the shares at a 50% discount.

For how much longer is this type of PPS hurting capital raising going to continue?

Is this really the best way to raise capital for CGAQ at the expense of its shareholders?