Geobio Energy (fka GBOE)

[Reality2]

Clayton Shelver and David Otto did exactly the same with a company called Secure Assetts Reporting SARS and got into the penny shares as SARO. They looked around for companies to take over and found one in the UK called Andronics. They approached the shareholders and made a deal to take the company over. They went out to the U S market and raised over $20M as a result.While al the negotiations were going on they racked up high fees for the 'work' they did. They took over the employees of Andronics Ltd under a new company they formed SARS Andronics Ltd a wholly owned subsidiary of SARS, They signed agreements to rent premises and to take over the employees but they did not pay tax nor employees government health insurance. They then reneged on the agreement but transferred the assetts to another company they borrowed money from in U S. This company then formed a company called Terramar Inc and a wholly owned subsidiary in the U K called Terramar Ltd.They then made the majority of the SARS Andronics Ltd employees except 4 redundant. They did not pay any redundancies to these employees and were sued in the U K court and severly criticised for their behaviouras Clayton Shelver and David Otto were the directors of SARS Andronics Ltd. They did a moon lit flight without paying Taxes employees contributions rent and other suppliers and SARS ANdronics Ltd was forced into liquidation. They allegedly misused credit cards belonging to one of the directors of Andronics Ltd to buy equipment and the police are looking to interview them concerning this alleged fraud. The FBI are also allegedly investigating them for their conduct in running SARS. David Otto was also investigated for alleged fraud on another penny stock company and paid money to the SEC without admitting guilt.This was reported in Seattle.
If you do D/D on SARS(SARO) you will see the same pattern of operation as what has been going on now with GBOE.
I hope this helps. If you need any further information just ask.
Incidently if you hear of them trying to raise money for this or any other project I would like to know so I can at least let potential investors know what they are getting themselves into. There are a lot of very angry people who lost a LOT of money investing with these guys