Sunday, April 29, 2012 9:00:35 PM
SEFE - backtracking to find some of the Debt Note holders that may be selling during the paid promotions
According to the 10K filed last month all total during February and March of 2012, the Company issued a total of 20,669,998 shares of common stock were issued for debt converted the total amount of $660,000. All interest accrued thereupon of $84,076, as of the date of conversion, was forgiven.
20,669,998 share issued just ahead of the paid promotions for past debts set up by the insiders of SEFE!!
In this post I already identified the original owner of one of the Notes = Harold Sciotto:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=74349816
Here is the original agreement from May of 2011 for the $70,000 debt Note which ended up being converted into the 2,700,000 shares now held by Speed Evolution Ltd
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=7800058
Originally the debt Note was issued to Westpac Communications, Inc
Westpac Communications, Inc is controlled by Harold Sciotto
http://nvsos.gov/sosentitysearch/CorpDetails.aspx?lx8nvq=GNQvA6DtpajPqcZ3NfOUxg%253d%253d&nt7=0
Sciotto/Westpac Communications Inc also got a $100,000 debt Note
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=7739859
According to this 8K Sciotto stopped being a non-related 3rd party and became a director of SEFE in June of 2011:
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=8005498
On June 20, the Registrant appointed Mr. Harold W. Sciotto as a director to fill a vacancy on its Board of Directors. Mr. Sciotto was employed by Sears Roebuck & Company, from June 1964 until his retirement in May 1993, in various sales and management positions. These positions encompassed sotre sales and department management positions, such as store merchandise manager, district business manager, and store manager of three stores in Arizona. His duties included sales, advertising, personnel management, financial statement preparation and accounting. From 1989 through the present, Mr. Sciotto has also been an independent business consultant to various early-stage business ventures. Mr. Sciotto most recently served as Corporate Secretary and Treasurer of ECOtality, Inc. (NASD: ECTY) from December of 2004 until November of 2010, and as a Director of ECOtality from December of 2004 until October of 2009.
Guess we know now why he transferred his shares from Westpac Communications to Speed Evolution (a foreign entity)
On March 11, 2011, the Company entered into a Convertible Debenture Agreement, whereby the Company borrowed $70,000 from a third party entity. During the year ended December 31, 2011, a total of $28,194 has been amortized and recorded as interest expense. Subsequent to December 31, 2011, the holder converted the principal amount of the note into 2,700,000 shares of common stock of the Company and all interest accrued has been forgiven. - that works out to $.026/share without interest included
----------------------
Looking back in the SEFE filings some more I have identified two more debt Note holders - Stephen M Kerr (father of Shannon Kerr - Director of SEFE) and Michael and Victoria Quiel
http://www.sec.gov/Archives/edgar/data/1321573/000139390510000387/mcdl_8k.htm
On June 25, 2010, the Registrant entered into two Bridge Loan Agreements (the “Notes”), with Lynn Cole Capital Corporation and Serio Capital, Ltd. (collectively, the “Holders”), each for $145,000, for an aggregate amount of $290,000. The Notes are due and payable in full on the earlier of June 25, 2011 or at the closing of a private placement offering that nets the Registrant a minimum of $2,000,000 (“Maturity”). The Notes bear an interest rate of 10% per annum, payable on Maturity. In connection with the Notes, and for no additional consideration, the Registrant issued to the Holders an aggregate of 1,000,000 shares of common stock, with each Holder receiving 500,000 shares of common stock.
Here is Serio Capital Ltd
http://nvsos.gov/sosentitysearch/CorpDetails.aspx?lx8nvq=eQ2I6n%252besZm9BYUCw4DW%252bA%253d%253d&nt7=0
The sole officer and director until March of 2012 when the list was amended was Stephen M. Kerr (be sure you check the box to view inactive officers)
Lynn Cole Capital Corp was a beneficial shareholder of Harold Sciotto's other entity, ECOtatilty Inc (ECTY) [formerly Alchemy Enterprises, Ltd (ACHM)]. The person signing for Lynn Cole Capital Corp was Victoria Quiel
http://www.sec.gov/Archives/edgar/data/1301206/000135403706000009/xslF345X02/primary_doc.xml
On June 25, 2010, the Company entered into a Bridge Loan Agreement, whereby the Company borrowed $120,000 from a related party entity. Accrued interest expense through December 31, 2011 in relation to this note is $18,214. Subsequent to December 31, 2011, the holders converted the principal amount of the notes into 3,661,016 shares of common stock of the Company and all interest accrued has been forgiven. - that works out to $.03775/share with the interest included
On June 25, 2010, the Company entered into a Bridge Loan Agreement, whereby the Company borrowed $145,000 from a non-related entity. Accrued interest expense through December 31, 2011 in relation to this note is $22,008. Subsequent to December 31, 2011, the holders converted the principal amount of the notes into 4,423,728 shares of common stock of the Company and all interest accrued has been forgiven. - that works out to $.0379/share with the interest included
----------------
So out of the 20,669,998 shares, that's:
3,661,016 shares linked to Stephen Kerr (plus 500,000 received last year)
4,423,728 shares linked to Michael and Victoria Quiel (plus 500,000 received last year)
2,700,000 shares linked to Harold Sciotto
and
9,885,254 shares whose ownership is yet to be determined
----------------
It was BuyersStrike that pointed out that Stephen Kerr and Michael Quiel were both arrested for defrauding the IRS as well as the intimate connections between Kerr, Quiel, Deparini, Goodman (Riverbend LLC), and Nevdahl - this is turning into quite the little insider pump&dump enrichment scheme
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=74983982
http://buyersstrike.wordpress.com/2012/04/26/like-father-like-daughter-the-kerr-family-and-sefe-inc-sefe/
According to the 10K filed last month all total during February and March of 2012, the Company issued a total of 20,669,998 shares of common stock were issued for debt converted the total amount of $660,000. All interest accrued thereupon of $84,076, as of the date of conversion, was forgiven.
20,669,998 share issued just ahead of the paid promotions for past debts set up by the insiders of SEFE!!
In this post I already identified the original owner of one of the Notes = Harold Sciotto:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=74349816
Here is the original agreement from May of 2011 for the $70,000 debt Note which ended up being converted into the 2,700,000 shares now held by Speed Evolution Ltd
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=7800058
Originally the debt Note was issued to Westpac Communications, Inc
Westpac Communications, Inc is controlled by Harold Sciotto
http://nvsos.gov/sosentitysearch/CorpDetails.aspx?lx8nvq=GNQvA6DtpajPqcZ3NfOUxg%253d%253d&nt7=0
Sciotto/Westpac Communications Inc also got a $100,000 debt Note
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=7739859
According to this 8K Sciotto stopped being a non-related 3rd party and became a director of SEFE in June of 2011:
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=8005498
On June 20, the Registrant appointed Mr. Harold W. Sciotto as a director to fill a vacancy on its Board of Directors. Mr. Sciotto was employed by Sears Roebuck & Company, from June 1964 until his retirement in May 1993, in various sales and management positions. These positions encompassed sotre sales and department management positions, such as store merchandise manager, district business manager, and store manager of three stores in Arizona. His duties included sales, advertising, personnel management, financial statement preparation and accounting. From 1989 through the present, Mr. Sciotto has also been an independent business consultant to various early-stage business ventures. Mr. Sciotto most recently served as Corporate Secretary and Treasurer of ECOtality, Inc. (NASD: ECTY) from December of 2004 until November of 2010, and as a Director of ECOtality from December of 2004 until October of 2009.
Guess we know now why he transferred his shares from Westpac Communications to Speed Evolution (a foreign entity)
On March 11, 2011, the Company entered into a Convertible Debenture Agreement, whereby the Company borrowed $70,000 from a third party entity. During the year ended December 31, 2011, a total of $28,194 has been amortized and recorded as interest expense. Subsequent to December 31, 2011, the holder converted the principal amount of the note into 2,700,000 shares of common stock of the Company and all interest accrued has been forgiven. - that works out to $.026/share without interest included
----------------------
Looking back in the SEFE filings some more I have identified two more debt Note holders - Stephen M Kerr (father of Shannon Kerr - Director of SEFE) and Michael and Victoria Quiel
http://www.sec.gov/Archives/edgar/data/1321573/000139390510000387/mcdl_8k.htm
On June 25, 2010, the Registrant entered into two Bridge Loan Agreements (the “Notes”), with Lynn Cole Capital Corporation and Serio Capital, Ltd. (collectively, the “Holders”), each for $145,000, for an aggregate amount of $290,000. The Notes are due and payable in full on the earlier of June 25, 2011 or at the closing of a private placement offering that nets the Registrant a minimum of $2,000,000 (“Maturity”). The Notes bear an interest rate of 10% per annum, payable on Maturity. In connection with the Notes, and for no additional consideration, the Registrant issued to the Holders an aggregate of 1,000,000 shares of common stock, with each Holder receiving 500,000 shares of common stock.
Here is Serio Capital Ltd
http://nvsos.gov/sosentitysearch/CorpDetails.aspx?lx8nvq=eQ2I6n%252besZm9BYUCw4DW%252bA%253d%253d&nt7=0
The sole officer and director until March of 2012 when the list was amended was Stephen M. Kerr (be sure you check the box to view inactive officers)
Lynn Cole Capital Corp was a beneficial shareholder of Harold Sciotto's other entity, ECOtatilty Inc (ECTY) [formerly Alchemy Enterprises, Ltd (ACHM)]. The person signing for Lynn Cole Capital Corp was Victoria Quiel
http://www.sec.gov/Archives/edgar/data/1301206/000135403706000009/xslF345X02/primary_doc.xml
On June 25, 2010, the Company entered into a Bridge Loan Agreement, whereby the Company borrowed $120,000 from a related party entity. Accrued interest expense through December 31, 2011 in relation to this note is $18,214. Subsequent to December 31, 2011, the holders converted the principal amount of the notes into 3,661,016 shares of common stock of the Company and all interest accrued has been forgiven. - that works out to $.03775/share with the interest included
On June 25, 2010, the Company entered into a Bridge Loan Agreement, whereby the Company borrowed $145,000 from a non-related entity. Accrued interest expense through December 31, 2011 in relation to this note is $22,008. Subsequent to December 31, 2011, the holders converted the principal amount of the notes into 4,423,728 shares of common stock of the Company and all interest accrued has been forgiven. - that works out to $.0379/share with the interest included
----------------
So out of the 20,669,998 shares, that's:
3,661,016 shares linked to Stephen Kerr (plus 500,000 received last year)
4,423,728 shares linked to Michael and Victoria Quiel (plus 500,000 received last year)
2,700,000 shares linked to Harold Sciotto
and
9,885,254 shares whose ownership is yet to be determined
----------------
It was BuyersStrike that pointed out that Stephen Kerr and Michael Quiel were both arrested for defrauding the IRS as well as the intimate connections between Kerr, Quiel, Deparini, Goodman (Riverbend LLC), and Nevdahl - this is turning into quite the little insider pump&dump enrichment scheme
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=74983982
http://buyersstrike.wordpress.com/2012/04/26/like-father-like-daughter-the-kerr-family-and-sefe-inc-sefe/
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