Let's examine the Questionable Eden Surgical transaction. Tom Toland announced on May 17 that Surgline had acquired Eden Surgical Technologies, LLC in exchange for 50 million shares of stock. There was an 8-K filed at the time, with the promise that audited financial statements would be filed within the required time period (75 days I think). Eden was claimed to "expand our line of trauma products."
Eden Surgical is a Texas LLC with its address at 205 Stockton Drive, Southlake Texas. Trulia says this is a single family home 4 bedrooms; average list price in zip code is $791,309.
Eden Surgical does not appear to ever have any business. It was formed on September 10, 2010. It has no telephone number of its own listed and no web site. It has five members, Michael Weyand, Dan Brown, Jessica Ybanez-Morano (a doctor in West Virginia) and Eric Malone, owner of Viola Leasing in North Carolina.
Since the 50 million restricted shares paid have a value of about $20,000, its really unlikely that Eden has any real business or value.
Confirmed in the 10-Q that Eden has never had any revenues.
