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Thursday, August 18, 2011 5:02:31 PM
Apple Rush Co., Inc. (Nevada corp) began as a subsidiary of Rushnet (RSHN). Corr reverse merged Apple Rush Co. with D-Bar Mfg. (Texas corp) and formed a new firm Apple Rush Co., Inc. (Texas corp).
In that reverse merger, Corr grabbed 88% of the shares of the new corp. (APRU) for himself while claiming in PRs that RSHN owned 45% of APRU. As it was, thousands of RSHN holders were shafted; they were "gifted" only 1 restricted (one year) APRU for 896 RSHN. That distribution amounted to only 4% of APRU O/S.
Corr went on to repeat in financials the false claims that Apple Rush brand/trademark had been transferred to the new Apple Rush Co., Inc. in exchange for those 88% of shares given to him. In reality, Corr only granted his marketing license to AR. Corr, sole owner of the trademark, kept the Apple Rush trademark for himself while pretending to the markets and shareholders that APRU owned the brand-trademark. Corr arguably sold hundreds of millions of APRU shares on the strength of that falsehood. He brazenly reinforced the falsehood in a widely broadcast 2008 web interview. Talk about a smoking gun for the SEC. http://www.stoxrox.com/apru-c.mp3
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These are my opinions and sentiments. Buying stocks poses demonstrable risks; you could lose all or part of your principal investment. Use iBoxes for DD start.
Buying gold won't save your soul, but it might save your skin someday.
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