Boston Carriers Inc. (fka BSTN)

[CK one]

It's also possible that there is something good in the works almost ready to be announced.

[Huggy Bear]

The good news is this scam is dead and it is unlikely Bertsos will be able to con more people with this joke of a company.

[TransAsia Judgment]

In my opinion no news is good news

PR will only tell you more dilution or more promissory notes or "fake news"

[CK one]

Hopefully, they have more decent news coming to coincide with any pr.

[SirScalpAlot]

May 15 was the extended deadline

[Huggy Bear]

Fairly sure it was due April 15. You could check last years.

[clockworkk]

Be patient this will pay off just waiting with my fishing pole in the water for that big one.

[TransAsia Judgment]

Your observation and comment is well received

You write: "This shipping business has been a sinking ship and it sounds like its not managed well".

Read the NEWLF bulletin board - it will give you some background

Do some research on NewLead Holdings - it will provide an insight

Boston CEO was CFO and on the BOD of NEWLF
You are deluded if you expect BSTN to be any different

[Tentmaker]

Any reasons to be positive? This shipping business has been a sinking ship and it sounds like its not managed well.

[Tentmaker]

Is there any bright side to this disappointing downside? What can we do at this point?

[Justapawn]

How long before 20-f has to be posted?

[Huggy Bear]

Still no 20-F?

[SirScalpAlot]

SCAM!

[CK one]

Holding longer term here for future possibilities. watching this Company for their growth.

[SirScalpAlot]

SCAM!

[CK one]

I'm holding my breath!! looking for more positive news and numbers.

[SirScalpAlot]

SCAM!

[CK one]

Let's see if it can rise up, which would be a positive sign.

[TransAsia Judgment]

Greek Shipowners - RIP

Graveyard

Boston Carriers ("BSTN")
NewLead Holdings ("NEWLF")
FreeSeas ("FREEF")

[Huggy Bear]

That piece of shit con artist Bertsos took all y'all for a ride.

I hope this serves as a lesson.

[SirScalpAlot]

R.I.P. dear Boston Carriers.

RCauto I think Antonios is not interested in you or your money anymore.

Have a nice weekend guys, and Antonios thanks you for all you kind help (so far).

[TransAsia Judgment]

Nobody said anything about Defendant

https://www.pacermonitor.com/case/27120259/Securities_and_Exchange_Commission_v_Sason_et_al

[RCAuto]

Link please. He is not a defendant.

[TransAsia Judgment]

Bertsos mentioned in court filings in the US Southern District of New York

Securities & Exchange Commission vs Joshua Sason et al - No: 19-cv-1459 ........... Docket 50

[TransAsia Judgment]

Comment "craftly worded"

Seems you are proposing "pump and dump"

Your comment: in my opinion, the only variables are the timing of the announcements ("pump") and the PPS ("dump").

[CK one]

in my opinion, the only variables are the timing of the announcements and the PPS.

[SirScalpAlot]

And we have a STOP sign, congrats Antonios

[TransAsia Judgment]

Bertsos was CFO of "NEWLF" and Board Member with Michail Zolotas
SEC Filing

https://www.sec.gov/comments/265-31/26531-4502426-175975.htm

Subject: File No. 265-31
From: Christopher J Diiorio
Affiliation: Whistleblower
October 10, 2018


Brett Redfearn SEC Dir Trading and Markets at SIFMA October 2018
"If a company is a dark company and listed in the OTC market and hasn't put out financials in six months, maybe it shouldn't be quoted to retail investors."
Echoing Jay Clayton and Hester Peirce.
More lip service. This isn't "fishing with dynamite". This is CYA as well as an amazing admission that the SEC continues to side with criminal entities like Knight/KCG/VIRT over their stated mandate of protecting the investing public: Main Street
Mr Redfearn joined the SEC from the criminal Bank J P Morgan. The same J P Morgan who looked the other way as Madoff ripped off Main Street investors for a decade+. The same J P Morgan that rejected 4000 worthless securities pledged by Knight on the heels of the Aug 1 2012 "trading glitch" but looked the other way when it knew exactly what a fraud the Knight balance sheet was. The same J P Morgan that pledged $1.6 billion in financing for the VIRT acquisition of KCG.
Yes, Mr Redfearn and his former employer J P Morgan are well aware of the core business at NITE/VIRT: Abusive naked shorting OTC shells to facilitate money laundering.
Mr Redfearn, Ms Peirce et al KNOW FULL WELL that this latest pr stunt does absolutely nothing to protect "Main Street" Because shells go "dark" on SEC filings only AFTER their massive fraud has been perpetrated.
I filed separate but related for 2 NITE top traded shells: NewLead Holdings and FreeSeas. 2 Shells claiming to be Greek "shipping companies". In fact, these 2 shells are money laundering vehicles for NITE/VIRT,Buckman Reid, Dawson James,Deutsche Bank, Credit Suisse, Hanover/Magna, Crede, JSJ, Alpha Capital Anstalt, Asher, AGS etc etc.
In NewLead, a shell where the CEO is also a Deutsche Bank Investment banker arrested for fraud and corruption in Greece and Cyprus. In 2013, commodities trader TransAsia filed a massive lawsuit alleging blatant and egregious fraud. What happened next: The grossly corrupt SEC facilitated theCEO, his wife, associates, and their 75 shell entities scattered across the globe to dump and launder more than $200 million in physical certs on the investing public. The SEC and FINRA approved dozens of reverse splits in NewLead that helped facilitate this fraud and money laundering. Wiping out Main Street investors. Capital destruction on a massive scale.Of course, NITE was a top trader in NewLead as this fraud was taking place. ALL of this activity took place with the TransAsia fraud suit in the public domain and the SEC in possession of my TCR. NewLead conceded guilt in the TransAsia suit but that STILL wasn't enough for the SEC to shut it down. In addition, Mary Jo White and Andrew Ceresney firm Debevoise was also involved in perpetrating this fraud on Main Street.

So, after laundering more than $200 million in physical certs (a clear AML red flag) and millions in abusive naked shorting profits for NITE/VIRT at the expense of Main Street investors, NewLead has gone dark on its filings. Damage done. SEC CYA.

The same fraud is taking place in FreeSeas. Real Time. Many of the same players. Plus Greenberg Traurig. With my TCR in hans for several years, the SEC facilitates and perpetuates the massive fraud on Main Street. This process is evident in literally hundreds of NITE/VIRT top traded shells.

This lates pr stunt by the SEC is yet another example of the SEC's gross negligence in executing its mandate to protect the investing public so that large market participants like Mr Redfearn's former employer J P Morgan and its customers like NITE/VIRT can reap massive profits at the expense of Main Street.

Cheers
Christopher Diiorio

[SirScalpAlot]

Feel sorry for his creditors

[TransAsia Judgment]

Bertsos made enough money to buy his own Greek Island and retire, grow olive trees and make olive oil.
Bertsos made $4.5-6 million (as per 20F)
Interesting concept. Pay yourself a high salary, pocket the money and run.
Let the company evaporate, leaving investors holding the losses

https://www.sec.gov/Archives/edgar/data/1174672/000172186818000310/f2sbstn20f041218.htm

On August 22, 2016, the Company entered into an executive employment agreement with Mr. Antonios Bertsos, the Company’s Chief Executive Officer, Chief Financial Officer and member of Board of Directors. Upon the occurrence of a change of control as defined in the executive employment agreement with Mr. Antonios Bertsos, the Company shall pay to Mr. Antonios Bertsos a lump sum cash amount equal to twenty times the sum of his then-current base salary and pro rata portion of any annual bonus, if any, in U.S. dollars, within 30 days following the effectiveness of the termination. Mr. Antonios Bertsos’ current base salary is $1,500,000 (refer to Note 12).

[Huggy Bear]

We may never hear from Bertsos again.

[TransAsia Judgment]

Bertsos had a good teacher and mentor - Michalis Zolotas a/k/a Michael Zolotas

Zolotas indicted and facing charges in Cyprus
Zolotas facing lawsuits in the United Kingdom, New York, Monaco, Greece, Bermuda
SEC filed lawsuits against his business associates

[TransAsia Judgment]

On the vessel NIKIFOROS

[Zues]

Did Bertsos sail away?

[TransAsia Judgment]

Bertsos was CFO of "NEWLF" and Board Member with Michail Zolotas

SEC Files Order to Show against NewLead Holdings
SEC Administrative File No. 3-18786

Seems like Zolotas is failing to respond, co-operate with the SEC

Accordingly, Respondents are ORDERED to SHOW CAUSE by March 21, 2019, why the registrations of their securities should not be revoked by default due to their failures to file an answer and to otherwise defend this proceeding. When a party defaults, the allegations in the OIP will be deemed to be true and the Commission may determine the proceeding against that party upon consideration of the record without holding a public hearing.

If Respondents fail to respond to this order to show cause, they may be deemed in default, the proceeding may be determined against them, and their securities may be revoked.

Upon review of the filings in response to this order, the Commission will either direct further proceedings by subsequent order or issue a final order resolving the matter.

https://www.sec.gov/litigation/opinions/2019/34-85268.pdf

[RCAuto]

Tomorrow is May 1st, financial report due

Vote:
(1) 20-F
(2) NT 20-F (15 day extension)
(3)

[TransAsia Judgment]

Interesting to say not the "owner of the vessel"
Not surprised - usual scam with Greek Owners.

Sell to a company and sign a lease-back agreement
You create a management company who earns management fees
You pay commission on the sale and the lease-back arrangement to an "arranger" company

The asset has disappeared
The proceeds pay current management expenses - maybe even their salaries and management fees
The management company belongs to management - one removed - never declared to the SEC
The "arranger company" belongs to management or his wife - one removed - never declared to the SEC

A transaction such as this has 10-20% leekage from the asset value

INVESTORS are the losers
CREDITORS have not assets to sell to collect

[Zues]

Old news.

[SirScalpAlot]

Effective March 21 Boston is not the owner of the vessel, of their only vessel actually. This info is available in equasis.org

Let's see what they'll say in their 20-F

[TransAsia Judgment]

That would be great - I guess time is on our side

[RCAuto]

In 2017, BSTN filed an NT-20F on 5/1, then filed the 20-F on 5/15. We’ll know within a week. My opinion is that they will certainly file.

[TransAsia Judgment]

Bertsos was CFO of "NEWLF" and Board Member with Michail Zolotas

https://www.tradewindsnews.com/finance/1761819/greek-authorities-deregister-trio-of-zolotas-companies

Greek authorities deregister trio of Zolotas companies
Licences withdrawn from NewLead subsidiaries for failing to provide filings on their activities
Harry Papachristou

Three companies linked to beleaguered former shipping player ¬Michael Zolotas have officially ceased to exist in Greece.

Local authorities have deregistered Newlead Shipping and Newlead Bulkers, two shipmanagement outfits that featured Zolotas as their legal representative.

Newlead Shipping was set up in 2007 as the Piraeus-based arm of Panamanian entities within Zolotas’ NewLead group. Newlead Bulkers was formed in 2010 as an arm of a Liberian entity in the group.

Greece’s shipping ministry said in a document that it withdrew the com¬panies’ licences because they had failed to provide any filings on their activities.

A third company deregistered by Greek authorities is Stamford Navigation, which was set up in 1995 by Michael ¬Zolotas’ estranged wife, Chryss¬anthi Giara, and his brother, ¬Panagiotis.

The three delistings complement a picture of outright collapse around the former owner. NewLead group had already abandoned its Piraeus offices last year, as TradeWinds reported. Shortly afterwards, the US Securities and Exchange Commission (SEC) suspended the trading of shares of NewLead Holdings, his formerly US-listed outfit, for failing to file documents on time.

Last November, Piraeus Bank foreclosed on a Zolotas-owned property worth €420,000 ($494,600), to recoup part of a €568,500 debt. The bank ultima¬tely bought the property at auction, TradeWinds is told.

Another online auction of Zolotas’ assets was scheduled to take place in October. It involved a house clearance, with assets including furniture, air conditioners, utensils, carpets, a home cinema, porcelain dolls, paintings, icons, cutlery, a ¬microwave oven, a coffee machine and even a model of a former company bulker valued at €100.

Zolotas is cited as being a resident of Monaco in the auction ¬papers filed to an official Greek website in November, but that is no longer the case following legal action this year.

His apartment in the princi¬pality was foreclosed on by the creditor bank for non-payment of the mortgage. The €3.79m net ¬proceeds from the sale were seized by TransAsia Commodities, which is enforcing collection of $22.3m owed in damages by Zolotas, NewLead group and its key subsidiaries.

Similar proceedings are underway in Greece and in New York, where TransAsia is involved in ¬litigation to seize Zolotas’ Manhattan apartment.

London-based TransAsia filed a civil case for breach of contract in December 2013, seeking compen¬sation for a failed agreement to buy 110,000 tonnes of coal from NewLead JMEG, a coal-mining joint venture with NewLead group. The coal was never delivered.

Former associates
Meanwhile, two of Zolotas’ former business associates have been named in a complaint by the SEC in relation to NewLead group’s coal-mining activities.

Through their company Pallas Holdings, defendants Kautilya “Tony” Sharma and Perian Salvi¬ola were issued fake promissory notes by NewLead group as consideration for the shipping company’s purchase of Pallas-held coal-mining assets in Kentucky, the SEC claimed.

The notes were then sold on to investors, netting $6m for Sharma and Salviola, a portion of which was then kicked back to NewLead group, according to the complaint.

Zolotas did not respond to a request for comment.

[TransAsia Judgment]

New Auditors: Fruci & Associates II, PLLC (“Fruci & Associates”)

http://www.cpab-ccrc.ca/en/firms/Pages/Details.aspx?FIRMID=spe7lg0QW9%2B5gJ/ZNFccww%3D%3D

https://pcaobus.org/Inspections/Reports/Documents/104-2016-068-Fruci.pdf

https://www.sec.gov/Archives/edgar/data/1174672/000172186818000310/f2sbstn20f041218.htm#a026_v1


Item 16F. Changes in Registrant’s Certifying Accountant

On January 29, 2018, we dismissed Ligget & Webb P.A. (“Liggett & Webb”) as our registered independent registered accounting firm. The decision to change our independent registered public accounting firm was ratified by our Company’s board of directors.

On January 30, 2018, we engaged Fruci & Associates II, PLLC (“Fruci & Associates”) as our new independent registered public accounting firm, effective immediately, for the year ending December 31, 2017. Neither we, nor anyone on our behalf, consulted Fruci & Associates during the two most recent fiscal years and any subsequent interim period prior the engagement of Fruci & Associates regarding either (i) the application of accounting principles to a specified transaction, either completed or proposed, or the type of audit opinion that might be rendered on our financial statements, and neither a written report nor oral advice was provided to the Company that Fruci & Associates concluded was an important factor considered by us in reaching a decision as to any accounting, auditing or financial reporting issue, or (ii) any matter that was either the subject of a “disagreement” or a “reportable event”, each as defined in Regulation S-K Item 304(a)(1)(v), respectively.

[TransAsia Judgment]

BSTN filed its 20F on April 20, 2018
Today is April 25, 2019. Either the 20F is delayed or maybe no 20F filing this year.

Not a good sign

https://www.sec.gov/Archives/edgar/data/1174672/000172186818000310/0001721868-18-000310-index.htm

[TransAsia Judgment]

Bertsos was CFO of "NEWLF" and Board Member with Michail Zolotas

New Lawsuit in London, United Kingdom
Case no. is CL-2019-000129
Claimant: Piraeus Bank
Defendants: Michail Zolotas / Grand Anemi limited / Grandunion Inc


BSTN business model same as NEWLF - NEWLF has died


https://cyprus-mail.com/2019/04/17/court-told-of-link-between-focus-and-pay-out-to-ex-cbc-head/?hilite=%27focus%27%2C%27maritime%27

[CK one]

Right now, we don't really have very convincing proof that scale and sale is upon us. Patience should pay for this one.

[Huggy Bear]

There is no faith in this Greek shipping scam.

[CK one]

This one’s chart requires a little leap of faith IMO. Happy Easter!

[CK one]

Keeping my eye on this. Not losing hope on potential resume uptrend!

[Zues]

Of course they will file imo. No drama there. No reason to dump on a stock that is already languishing in obscurity. Anyone wanting this in the trips must see value. I see nothing for now.