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I’ve gotten a response or two in the past, but only after much persistence. I’m not holding my breath on this one though.
Lol..... "The company stopped responding to the commission and proceeded to file the form-15."
IDIOTS! .....
Good luck with OTCM. They can be... uncommunicative.
And I see we're dealing with the former First Bitcoin Capital, and Simon Rubin and Yuri Abramov. The SEC really should take a closer look.
Yes, that’s just another reason why this is all highly questionable. According to SEC files, It appears they were under review by regulators for their latest annual:
After reviewing your response to this comment, we may have additional comments.
Form 10-K For the Year Ended April 30, 2021
Index to Financial Statements, page F-1
1. Please amend your filing to include audited financial statements pursuant to Article 3 of Regulation S-X.
The company stopped responding to the commission and proceeded to file the form-15.
The whole thing stinks imo.
I appreciate your input. Since this is going to drive me crazy, I might just have to go the route of contacting OTCM for answers. I’ll keep you posted :)
Their last quarterly was right after the Form-15 for period ending 1/31/22, and per the new rules threshold — they’re late in reporting which put them on the expert market.
Remember: the minimum threshold for for "current information" within the SEC's sense of the word is 18 months, not one year.
So what they did was to file an annual report in April 2021, then file a Form 15, and then file at least one quarterly. That would have been being very careful: if an SEC filer decides to go the Form 15 route, he's technically obliged to file any quarterlies that would be due in the next three months, because a Form 15 only becomes automatically effective after 90 days. Usually the issuers don't bother with that.
So why isn't it Pink Limited rather than Pink Current Info at OTC Markets? Ya got me. It has no new Form 15c2-11, and that SHOULD be a problem.
My only idea is that you might try writing to or calling OTCM. And at least bring this to their attention. Maybe they can explain.
And I see we're dealing with the former First Bitcoin Capital, and Simon Rubin and Yuri Abramov. The SEC really should take a closer look.
Let me see if I can explain this a little better, I know it’s confusing… They filed a Form-C on Friday: https://www.sec.gov/Archives/edgar/data/1525852/000152585222000001/xslC_X01/primary_doc.xml
This included their two latest annual reports attached to their prospectus per the rules: https://www.sec.gov/Archives/edgar/data/1525852/000152585222000001/botsos20220809.pdf
which the latest annual was filed on 11/21 for period ending 4/21. This is NOT any new financial disclosure. Since that annual report, they filed a couple more quarterlies before they filed a form-15. Their last quarterly was right after the Form-15 for period ending 1/31/22, and per the new rules threshold — they’re late in reporting which put them on the expert market.
So, they’re using annual reports from ‘20 and ‘21 with the Form-C as required, but these financials were published months ago.
OTCM shows a “unsolicited quotes” warning, but at the same time as “pink current” with a published quote.
They’re technically not current — for the same reasons they were put on the EM to begin with. Nothing has changed, or been reported since their last quarterly for period ending 1/31/22, which followed the Form-15, other than filing the Form-C on Friday with the two K’s that were already in the public domain.
I’ve read everything out there with Form-C guidelines and can’t find why it would make a company that’s technically delinquent, current, when they’re not submitting any new financial information.
It’s baffling to me, since none of it makes sense, especially the “unsolicited quote” warning still up on OTCM.
https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001525852&owner=include&count=40&hidefilings=0
https://www.otcmarkets.com/stock/BTZI/overview
Blue chips are nearing record highs again. Dow is down only 6% for 2022 which doesn't add dividends. Dividend-growing S&P components are off even less. I almost never take profits because I only buy the highest quality issues.
Not surprising that moron's noncompliant startup Mexican pipeline -- the aptly named Mirage Energy -- is lagging at $0.007... and not even trading.
tough lesson - sounds like he was way up but never took any profits. I have 3 or 4 100 baggers and in every one I sold a lot along the way.
sure I bagheld a lot of others way too long also - Its tough lesson - I once thought I lost the house - Never again did I ever put my self in a risk position. If I could not afford to lose 100% I didnt trade
Whose reporting requirements are they bypassing? The SEC's, or OTC Markets' disclosure requirements?
Reg C was designed to make it easier for issuers to raise money. (Though nothing's easier than Reg D, really.) The disclosure requirements aren't as extensive as they'd be for an S-1, though eventually the company ends up as an SEC filer, if it wants.
This is what information the Form C must contain:
https://www.ecfr.gov/current/title-17/chapter-II/part-227/subpart-B
That's the relevant part; here's the whole thing:
https://www.ecfr.gov/current/title-17/chapter-II/part-227?toc=1
But any company can get off the Expert Market simply be filing what I suppose could be called "annual report information" every 18 months. Once the company does that, it'll trade as an OTC Markets Limited Information issuer. It will have a bid and ask.
But I suppose it's possible that some brokers refuse to allow clients to buy Yield stocks these days. If so, that would be a reason to find another way to become compliant.
Janice, do you have any idea how are expert market companies bypassing reporting requirements by filling a Form C and poof becoming pink current, when in fact they’re still technically late in follow-up quarterlies.
This seems to be a phenomenon/loophole taking over quite a few EM designations if they have 2 annual reports filed preceding the filing of the Form-C. For example Bots, Inc jumped over 250% yesterday as a result. I took advantage of the jump simply bc I happen to be a mod and saw early in the morning they had a quote, but I’m still lost as to how exactly they can be pink current, when on OTCM they still show a unsolicited quote disclaimer.
Any insight would be appreciated.
At what point does the SEC take action against George Sharp?
Yes, Tang posted here quite a bit.
Yup - Richard Tang and Jason Black
———
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=164507040
Jason Black posted here as well. Pretty sure we did plenty here on him.
Ties to Mark Miller.
You cannot buy or sell MRGE via any USA broker. Only ex-US (Canada) accounts can trade, and no quotation is allowed. The now Form 15 dark POS is severely in arrears with regard to publishing its financials.
All the Asians are Canadian citizens, so I don't think it's the same thing.
Similar to why many Nigerian scam emails come right out and say they're from Nigeria. Perhaps perps figure victims will be embarrassed to come forward.
Did you see all the Wongs in this SEC complaints.
https://www.sec.gov/litigation/complaints/2022/comp-pr2022-145.pdf
SEC Charges 18 Defendants in International Scheme to Manipulate Stocks Using Hacked US Brokerage Accounts
https://www.sec.gov/news/press-release/2022-145
Complaint:
https://www.sec.gov/litigation/complaints/2022/comp-pr2022-145.pdf
Some familiar names there...
I don't think it's ever a good idea to give companies names like "Mirage" or "Chimera" or the like, if people are expected to take them seriously.
Most know the rules. Thus it's better to focus on the Local Perpetual Losers. Why do some keep on losing and even risk suicide when the scams are usually so obvious? This BBC article offers clues
"Gamblers Get High Even When They Lose"
"You might think gambling is all about winning, but a range of studies show that things just aren’t that simple. Why do gamblers, even unsuccessful ones, keep getting a buzz?"
"The first thing to note is that people don’t just gamble for the prospect of winning. Mark Griffiths, a psychologist at Nottingham Trent University who specialises in behavioral addictions points out that gamblers list a wide range of motivations for their habit."
[Much more...]
https://www.bbc.com/future/article/20160721-the-buzz-that-keeps-people-gambling
Bar, Just curious about your 16 rules. Is there a link where they are listed? Thanks :o)
---
Mirage Energy (MRGE OTC $0.007) passes none of my 16 tests for an investment. Not even close. Could a stock have more red flags? Expert market, restricted trading with most assets outside the US. On top of that, filings appear to be delinquent.
MRGE's market cap is <$4 million. My minimum size is about $5 Billion
I stopped reading at: "There is substantial doubt as to our ability to continue as a going concern."
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001623360/000164033422000145/mrge_10k.htm
Pennystocks rule!
$237K lost in just one pennyscam alone!
Revenue has grown, growth is dropping, they are in in a low net margin business and there are regulatory risks
I have to laugh. He's so perfectly named...
YHM, too...
DAVID BLECH - USBOP Inmate No. 48350-054???
BLECH is ~OUTT of prison having served his SECOND prison sentence for his second set of pennyscam-related felony CONvictions.
BTW, YHM.
You are 100% on how tough the regulation are. I believe the SEC has crowdfunding on its radar. George and his crew would have to be extras careful.
Of note is the suspension of BNGI in February 2021.
The Commission temporarily suspended trading in the securities of BNGI because of questions regarding the accuracy and adequacy of information about BNGI and its securities in the marketplace concerning, among other things, BNGI’s activities, and potentially fraudulent
trading activity affecting the market for its securities, including: (a) since at least mid-January 2021, certain social media accounts may be engaged in a coordinated attempt to artificially influence BNGI’s share price; and (b) BNGI’s share price and trading volume have greatly
increased since at least mid-January 2021 in the absence of any publicly available news from BNGI.
George and his supporters would have to very careful with what they tweet and post I believe as based on all the SEC issues George has and is facing he could have a target on his back.
I am sure the SEC has recieved complaints of George and his crew. Just like BNGI did.
"Kurland suggested they invest in thoroughbred race horses. One million dollars would get them three horses and feed and train them for a year."
"Each bank had its own requirement for proving the money was hers.
Smith said there were many bits of information Kurland never shared, such as he earned a 1% finders fee on some investments and had an interest in JBMML and Cheddar. He bought two horses, not three. And worst of all, took $19.5 million from her account without permission."
"“Kurland and his associates were accused of siphoning lottery winnings to pay for boats, luxury cars, country club memberships, and other clichés. Oh, and one of the crew threatened to murder the family of a man who turned out, inconveniently, to be a federal informant,” the magazine said."
https://news.yahoo.com/her-own-words-sc-mega-090000566.html
"Mega-Millions winner’s testimony shows how she lost $83_million_to NY attorney"
"On the morning after she became a multi-millionaire, a South Carolina woman drove by the KC Mart No. 47 in Simpsonville where she bought her lottery ticket, to see if anyone was there, just in case she had made a mistake and didn’t really win.
It was the largest Mega Millions jackpot to be won by a single ticket — more than $1.5 billion — and she had seen the numbers reported on television."
"Her story also provides a cautionary tale for those who come into large amounts of money unexpectedly, who trust professionals to do their jobs without a lot of oversight."
"Her husband called Kurland from a burner phone in December 2018. They didn’t want him to know their names. They met in Las Vegas shortly afterward."
"The accounts were set up in Kurland’s name to protect their anonymity.
“He had access to it. We did not. He set it up as if it was, basically, his account,” she said."
https://news.yahoo.com/her-own-words-sc-mega-090000566.html
I don't know...
How long did it take to return the money? Not sure if you know ..but inquiring minds... :)
So why didn't the SEC just say "theft"..lol. From my old days...that was called a "bar swipe". While everyone is drinking at the bar..some ass would just sweep their hand across the bar and steel everyone's money.
That is just insane.
Using Reg Crowdfunding isn't really "easy". Read that explanation: there're lots of restrictions, and lots of complications. For the limited amount of money you can use it to raise, there're a lot of moving parts.
That said, since the article was written, the SEC has increased the maximum amount that can be raised from $1 million and change to $5 million.
https://www.sec.gov/education/smallbusiness/exemptofferings/regcrowdfunding
Try to look at that board as being representative of the cream of IHub's conspiracy crop.
Full of crazy ideas.
Pretty sure that shell won’t be used for any legit company.
There is still a pending decision by the SEC about actions FINRA took when the last custodians tried to get it up and running. George mentioned in a filing he planned to deal with it but so far the case has been extended at least 3 times.
On July 9, 2019 we changed our name to Inca Hemp, Inc., but we were unable to receive FINRA approval of this requested corporate action under FINRA Rule 6490. Current management will be withdrawing the appeal filed by former management with the SEC of FINRA’s denial of the name change. On June 14, 2021 current management amended our Articles of Incorporation to change our name to Good Vibrations Shoes, Inc.
As George is finding out the hard way - the SEC and FINRA are not rubber stamping his deals. And they all seem to be having problems with shares that were issued and George trying to just get them cancelled.
Taking a look at what he has done with Forwardly and what he has put in there isn’t all that convincing he has some billion dollar legit company coming into any of them, he basically played the BLOCKCHAIN/NFT CARD to sucker people into his R/M - so we shall see exactly what he has up his sleeve on all these pending mergers that required emergency treatment from the courts to award him those custodianships.
Was he bullshitting the court? Guess we will see once he figures out how to get filings through.
I know you're well aware of the latest with GVSI and I just read this:
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=169672180
Do you know if you (or anyone else here) thought that is true about the "Form C" (I'm really not reading all this): https://www.compsciresources.com/blog/form-c
I really wanted to get another opinion about that (and not from the GVSI Board) and if GVSI could use that "Form C" to become pink current seeing how it must have some really big problems that George is trying to overcome. (It would be his "Plan C" since he seems to be having a hard time with his Plans A and B.)
TIA
There ought to be a way IH can have some say in outlining the new room you want to open?...this..."AMERICA IS Under Siege" just popped up on "most posted"?...So...I looked...now I wish I hadn't...so sad.
Janice can you help me with a couple "hired" posters? Could "Jetijazz" & "Let'sRoll" be bots? Or, better yet...is there a way to find out how they get paid?, or who in said company is paying?...or is it the MM's paying? Reason for bitch is that I think it cheapens said company!?
Have a great weekend...either "stay cool" or "stay dry"...whichever applies!
"Stocks notch longest winning streak since late 2021"
"U.S. stocks soared Friday as a rally fueled by lighter-than-expected inflation data this week helped equity markets log their longest winning streak since November 2021.
Tech stocks again led gains, with the Nasdaq up 2.1% and closing above 13,000 for the first time since April 25. The S&P 500 jumped 1.7% as the benchmark index registered a fourth-straight weekly gain, and the Dow Jones Industrial Average surged 420 points, or roughly 1.3%."
"The producer price index (PPI) on Thursday showed prices fell 0.5% from the prior month compared to expectations of a 0.2% increase. On Wednesday, the consumer price index (CPI) showed prices stayed flat over the month and rose a less-than-expected 8.5% annually."
https://finance.yahoo.com/news/stock-market-news-live-updates-august-12-2022-111813368.html
"China State-Owned Giants to Delist From US Amid Audit Spat"
(Bloomberg) -- Five of China’s largest state-owned companies announced plans to delist from US exchanges as the two countries struggle to come to an agreement allowing American regulators to inspect audits of Chinese businesses.
"China Life Insurance Co., PetroChina Co. and China Petroleum & Chemical Corp. all disclosed their intentions to delist in statements published in quick succession on Friday, along with Aluminum Corp. of China and Sinopec Shanghai Petrochemical Co.
The US and China have been at odds for two decades over allowing American inspectors access to the audit work papers of Chinese companies. Negotiators have yet to hammer out an agreement with the clock ticking on a congressionally imposed deadline of 2024"
https://finance.yahoo.com/news/china-state-owned-giants-delist-100529241.html
"Several studies have shown that it's getting harder to get the 'trickle-down effect' - it's time to move away from the old notion that any illegal acts done by Wall Street, blah, blah, etc,.."
Smedley wouldn't be too impressed with their footmen.
https://www.bbc.com/news/world-us-canada-62501514
Lolz.. hi Shaj - also, on a side note .. do you need to fix this?
(where is is very rarely at)
Or, should I keep coming up with alternative meanings ;)
Don't know about Butler who died in 1940
Smedley is my new and poignant Hero - first in the fuck Wall Street movement.
True Patriot.
Specifically, Doubek and Walsh allegedly caused Alpine to sell approximately $268,000 in customer securities without notice or customer approval on the basis that Alpine deemed the securities "worthless." The complaint further alleges that without authorization, and contrary to how the term is defined in its customer agreements, Doubek and Walsh caused Alpine to declare 545 customer accounts "abandoned" and to transfer approximately $54 million worth of securities out of these "abandoned" accounts and into accounts that Alpine controlled.
That really was one of the most outrageous things Alpine ever did. Even though the money was eventually returned to the customers from whose accounts it'd been removed.
Alpine Securities: The worst ever perhaps...
"Alpine Securities’ $5,000 monthly account fee, 1 percent per day illiquidity and volatility fee, and $1,500 certificate withdrawal fee were unreasonable and the $5,000 fee was applied in a discriminatory manner;
"The firm’s appropriation of customer positions valued at $1,500 or less for one penny per position and 2.5 percent market-making/execution fee resulted in unfair prices and commissions;
"The firm converted and misused customer funds and securities by removing customer securities it improperly deemed “abandoned” and “worthless” and seizing customer securities to cover debits related to excessive and unreasonable fees;"
The firm engaged in unauthorized trading by moving customers’ securities from customer accounts to firm accounts without customer authorization, purportedly to cover outstanding debits and because the firm improperly identified the securities as “worthless,” and by moving customers’ securities from customer accounts to the firm’s abandoned securities accounts without customer authorization because the firm improperly identified the accounts as “abandoned;” and The firm executed an unauthorized capital withdrawal.
None of the firm’s customers authorized the firm’s transfers of their securities or seizures of cash to cover the $5,000 monthly fee."
https://financefeeds.com/finra-bans-alpine-securities-charging-5k-monthly-fees-without-consent/
SEC Charges Broker-Dealer and Two Employees with Engaging in Unauthorized Securities Transactions
Litigation Release No. 25465 / August 10, 2022
Securities and Exchange Commission v. Alpine Securities Corp., et al., No. 2:22-cv-01279 (D. Nev. filed August 10, 2022)
This is interesting, as it is already subject to an ongoing FINRA case, and is in addition to the multiple administrative cases the SEC already has going against Alpine. I guess the SEC thought they were taking too long, and decided to take action before Alpine goes out of business and the money disappears forever.
https://www.sec.gov/litigation/litreleases/2022/lr25465.htm
DD Support Board and Fraud Research Forum
This forum is a place for ALL to share and build research and due diligence.
This is not a forum for recommending stocks to buy or sell. It is for information sharing only.
Please do not use this forum to promote stocks.
Feel free to build on the research already done by others or to present fresh new research.
Please start all informational posts with the ticker symbol of the stock.
Important links:
Another place to read some of nodummy's research:
http://promotionstocksecrets.com/
Great Forum for Litigation and Court Docket updates not posted on this board:
www.investorshub.advfn.com/boards/board.aspx
SEC trading suspensions:
http://www.sec.gov/litigation/suspensions.shtml
SEC press releases:
http://www.sec.gov/news/press.shtml
SEC administration proceedings:
http://www.sec.gov/litigation/admin.shtml
SEC litigation releases:
http://www.sec.gov/litigation/litreleases.shtml
Most recent SEC flings:
http://www.sec.gov/cgi-bin/browse-edgar?company=&CIK=&type=&owner=exclude&count=40&action=getcurrent
Great Website for basic information about the laws surrounding penny stocks
http://www.securitieslawyer101.com
Stock Dilution Scam:
A share dilution scam happens when a company, typically traded in unregulated markets such as the OTC Bulletin Board and the Pink Sheets, repeatedly issues a massive amount of shares into the market for no reason, considerably devaluing share prices until they become almost worthless, causing huge losses to shareholders. Then, after share prices are at or near the minimum price a stock can trade and the share float has increased to an unsustainable level, those fraudulent companies tend to reverse split and continue repeating the same scheme.
Pump and Dump Schemes:
"Pump and dump" schemes, also known as "hype and dump manipulation," involve the touting of a company's stock (typically microcap companies) through false and misleading statements to the marketplace. After pumping the stock, fraudsters make huge profits by selling their cheap stock into the market.
Pump and dump schemes often occur on the Internet where it is common to see messages posted that urge readers to buy a stock quickly or to sell before the price goes down, or a telemarketer will call using the same sort of pitch. Often the promoters will claim to have "inside" information about an impending development or to use an "infallible" combination of economic and stock market data to pick stocks. In reality, they may be company insiders or paid promoters who stand to gain by selling their shares after the stock price is "pumped" up by the buying frenzy they create. Once these fraudsters "dump" their shares and stop hyping the stock, the price typically falls, and investors lose their money.
http://www.sec.gov/answers/pumpdump.htm
The key is understanding
The key is understanding that pink sheet stocks are not investments - 99% of them will lose value over the long run and never accomplish most of their forward looking pumping statements they put in press releases or on their websites. Never believe the hype - always be skeptical of everything you hear.
The people mostly making money with pink sheet stocks are promoters, front loading pumpers with big followings they can dump on, crooks, some of the flippers, and sometimes the very lucky.
Pumpers only tell you to buy stocks that they already own. Pumpers only tell you to hold stocks because they want to make sure you hold longer than them.
They make money by pumping the stock and getting other people to buy then dumping their shares on the followers.
If you really want to take the risk of trying to make money trading pink sheet companies then you have to understand how the game works and never ever hold long term - take profits when you can. Pump and Dumps dominate the IHUB forums.
Trading pink sheet stocks is a sick game full of lies and deceit where people take advantage of the inexperienced and naive stealing away their life savings for their own personal gains.
Very little respect or morals exist in stinky pinky land.
The Consequences of an SEC Suspension:
Complete list of SEC suspended stocks and SEC Admin. Law Judge registration revocations from January 1st, 2010 to May 9,2020:
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=155531213
More information on Suspended Stocks
http://investorshub.advfn.com/SEC-Suspensions-&-Revocations-25334/
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