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Yes indeed. And this is only from 2018 to early 2023. Kramer has been in the toxic funding business for much longer than that.
During the Relevant Period, Defendants funded approximately 325 microcap
issuers in nearly 2,000 convertible securities transactions and converted those securities into
more than 90 billion shares of newly issued common stock. Defendants quickly sold the shares.
They obtained more than $75 million in profits from these transactions as of March 31, 2023.
The overwhelming majority of their profits—at least $60 million—came from converting notes
and preferred shares and selling the newly issued post-conversion shares into the public markets,
not from cash payments of interest and dividends. Specifically, through March 31, 2023, on
convertible securities purchased during the Relevant Period, Power Up earned net trading profits
of approximately $39 million, Geneva Roth earned net trading profits of more than $14 million,
and 1800 Diagonal earned net trading profits of approximately $7 million.
https://www.sec.gov/files/litigation/complaints/2024/comp25995.pdf
KOKE, COKE vs KO
"Description
Coca-Cola Consolidated, Inc., together with its subsidiaries, manufactures, markets, and distributes nonalcoholic beverages primarily products of The Coca-Cola Company in the United States. The company offers sparkling beverages; and still beverages, including energy products, as well as noncarbonated beverages comprising bottled water, ready to drink coffee and tea, enhanced water, juices, and sports drinks. It also sells its products to other Coca-Cola bottlers; and post-mix products that are dispensed through equipment, which mixes the fountain syrups with carbonated or still water enabling fountain retailers to sell finished products to consumers in cups or glasses. In addition, the company manufactures and distributes various other beverage brands that include Dr Pepper and Monster Energy. It sells and distributes its products directly to grocery stores, mass merchandise stores, club stores, convenience stores, and drug stores; and restaurants, schools, amusement parks, and recreational facilities, as well as through vending machine outlets.
The company was formerly known as Coca-Cola Bottling Co. Consolidated and changed its name to Coca-Cola Consolidated, Inc. in January 2019. Coca-Cola Consolidated, Inc. was incorporated in 1980 and is headquartered in Charlotte, North Carolina."
Crime pays with microcap convertible securities.....
https://www.sec.gov/litigation/litreleases/lr-25995
https://www.sec.gov/files/litigation/complaints/2024/comp25995.pdf
"Things Go Better With COKE"
Gee, no wonder Buffet owns it.....
Boston using warp drive!
"Warp Drive, Scotty!"
https://www.businesswire.com/news/home/20240506270015/en/
Yes. Go to the PCAOB site and read their reports on BF Borgers. And Marcum.
So I need to refer to the PCAOB. Maybe I'm naive, but I have never heard of the PCAOB not understanding mathematics and samples...so I guess I'm done with that inquiry :)
Maybe that's a mistake....but not sure anyone has ever challenged them..be it their work...and proven any case.
It was based in part on the PCAOB's inspection results. They had 100 percent deficiencies. As bad as Marcum, and for the same reasons. Both had undertaken WAY more clients than they could handle. And many of those clients were SPACs, or the target companies of SPACs.
DWAC used Marcum. TMTG, DWAC's target, used Borgers. Of course, DWAC was also sanctioned by the SEC.
I would think so..at least for SEC reporters or legits'. The list isn't that great..lol. I would like to know the sample size of the SEC's decision. What I am saying is that the possibility of accurate audits exist outside the sample. But now such should affect those as well. If they exist.
Any company he's ever done an audit for will have to dismiss him and restate. Or, if they'd rather, dismiss them and file a Form 15.
He used to do nothing but penny stocks, but he moved into SPACs and Nasdaq CM stocks in recent years.
I'm wondering if all current and those that are listed will have to file a non reliance. I mean, I would imagine so...but I do not know if all those involved meet the level of such. I just don't have enough detail...and have reread the complaint.
lol...I know that link. That is how lazy I am feeling. Was looking for a copy and paste. I'm even too lazy to hit the "more/next" tab. Thanks though..I'm looking at them now.
That is what I wanted to ask you all. I didn't really dig into it that much, but seem to remember that it was dealing with a lot of Companies over the course of at least several years. Is there a list someone complied? lol....I know I can do it myself...just feeling lazy.
It just seems that it is going to really...really...f' up a lot of business(legit or not).
Well, they're gonna have to restate the last two years of annual reports, at least, and review the relevant Qs.
I don't see that much to audit beyond stock issuance and similar. Same old :)
DJT has already found a new auditor:
https://www.sec.gov/Archives/edgar/data/1849635/000114036124024423/ef20028532_8k.htm
It hasn't had the kind of problems Borgers had, but then it doesn't seem to have many clients:
https://assets.pcaobus.org/pcaob-dev/docs/default-source/inspections/reports/documents/104-2022-167-semplemarchal.pdf?sfvrsn=f6079609_4
Their website: https://semplecpa.com
Well you had a fn' good day..lol.
I hear you. Betting horses all day. Getting 1/2 loaded .Betting against Sharp was fun. Wife and I hit a few including 2nd in the Derby.
But I was falling asleep watching the game. But I was on the edge watching the last quarter and the OT.
Go Patrick!
That game was crazy...
Boston onward! Maroon for the 4 peat!
I am immensely fortunate. Currently, the flagship entity of my family office, "SONG," functions as a REG A+ II reporting issuer under the SEC. Consequently, any lapse in SEC reporting by SONG, regardless of cause — even a failure by a third-party audit firm, akin to the Borders case — would jeopardize our eligibility for proprietary quotes in accordance with the relatively recent updated Rule 15c2-11. When I initially acquired the public vehicle for a reverse merger with my company, Pro Music Rights, Inc., the OTC Markets Group assessed a fee of $12,000 USD, asserting their approval based on the company's "good standing" and absence of outstanding issues, ensuring compliance with "Pink Current Standards." However, post-merger, they inexplicably delayed action for nearly four months. During a Category 4 hurricane in my residence of Naples, FL, they abruptly transferred us to the expert market without prior notice. It was only almost a week later that they cited the previous entity's failure, five or more years prior, to file audited financial statements as grounds for the move. Consequently, we undertook the daunting task of auditing five or more years of records for a company that ceased operations upon our merger. Despite completing these audits — which pertained to a defunct entity we sought to disassociate from — they still refused to reinstate our proprietary quote eligibility. Subsequently, we engaged a Market Maker's assistance, a Herculean feat given current restrictions prohibiting Issuers from compensating Market Makers for filing Form 211s. In brief, following over 14 months of arduous efforts, and with the intervention of my local congressman, Byron Donalds, our reinstatement was finally sanctioned. However, from my extensive experience as a trader, investor, and manager of OTC issuers, it is abundantly clear that the prevalence of unscrupulous third-party service providers is alarming. A significant warning sign for me is the failure of any third party to raise potential concerns regarding "SONG," an extensively distressed US Public Performance Rights Organization owed over $700 million USD through contractual licensing agreements, which my company aims to recover predominantly via litigation, without a historical precedent for financial adjustments or collections due to almost 100% being delinquent. Additionally, our recent diversification into acquiring royalty-generating intellectual property stakes complicates matters further. Any audit firm claiming to complete our audit within 2-3 weeks, given the complexities of verifying hundreds of millions of dollars in contractual agreements and revenue recognition under US GAAP, as well as navigating our family office's unique 3(a)(10) arrangement with "SONG," which applies the 3(a)(10) exemption directly to underlying shares rather than merely to convertible instruments, raises immediate suspicion. Moreover, any firm willing to undertake such a task for a mere $20,000 USD fee seems incredulous.
On a somewhat unrelated note, I fondly recall the days when the OTC was more of a small community. While it always had individuals claiming fraud where there was none or hyping up investments with little substance, people used to take the time to present their cases on why they believed something was fraudulent or legitimate. However, it seems like these days, especially post-Covid, there's an influx of newcomers in the space, many of whom, in my opinion, lack the risk profile to trade anything OTC-related due to the highly speculative nature of the market. It's a shame that many retail brokers allow novice investors to dive into the OTC without understanding how the market operates.
Moving on to another unrelated topic, the formation of a Venture stock exchange is worth noting{ https://www.dreamex.com / https://www.congress.gov/bill/117th-congress/senate-bill/3097 ) . I believe that once the Venture stock exchange becomes operational (expected late 2024 or by Q2 2025), it could signal the final blow to the US OTC cash equities market. The OTC space has become a nightmare for almost all parties involved, including investors, traders, issuers, management, broker-dealers, clearing firms, and even regulators.
Regarding the future of the US OTC market, given my years of observing the market, I see it facing significant challenges. The rise of alternative trading platforms, regulatory complexities, and the increasing scrutiny on OTC securities could reshape the landscape dramatically in the coming years.
I would also love to get your thoughts on how the OTC has changed over the years and where you think it will end up in the future
Sweating their ass off in Boston tonight..lol.
Yes...thanks for the name. Did a quick image look up and there it was. Already found that C-SPAN vid...thought there were more. Not sure if you are aware, he attempted suicide years back due to health etc.
https://www.westword.com/news/jay-marvin-radio-legend-health-battle-death-16090978
C-SPAN
https://www.c-span.org/video/?24837-1/jay-marvin-radio-talk-show-simulcast
Oh yes, Jay Marvin. I didn't realize he'd died.
Remember that radio personality...the extreme far left one? He past fairly recently....didn't you call his work once(station)? That cat apparently had a real rough health ride. I forget his name...but I think he came out of Chicago. Didn't he attempt to sue you...and fail miserably. I'm going back now...but he was pretty much...I don't know the correct word to use...um...boisterous. I'm being polite.
I don't want to be disrespectful of him...but he may have been a bit of an ass, as in, his on air personality and beliefs. LOL...not sure why I am thinking about this now. It's just popped into my head after you wrote that reply to Jake. Weird ...
ps..he actually has a clip or two on C-SPAN I believe
I agree Janice those that dug up on scams have rarely crossed the line that our old friends have ( the pumper scum bags). The stuff I was subjected to was really disgusting. I still keep almost a zero internet profile after that. The good news is that most of the haters of me are now dead, in jail or broke as most of them were scum bags. NOt a single one has ever apologized. May they all rot in hell
I have no Idea on SONG .
the term "punk" comes to mind
i heard that some people are saying that you were grown in a lab and don't have an actual grandmother
I'm sorry you've been subjected to all that, Jake. Threats are never the answer in any situation. And those sent to your family members are appalling. Unfortunately, the growth of the internet has not come without societal problems.
It's been a long time since I looked at IFLM, and I don't think I've ever read the SONG board. But I do know that nodummy and most of the rest of us on the DD board don't dig for or spread personal information, and certainly don't deal in threats or harassment. In addition, IHub's been pretty quiet since the OTC market got whacked by the amendments to Rule 15c2-11. I think it's reasonable to say that the threats you're receiving now are from people who're posting about you and your companies now. And that those people are probably active on other sites.
You had a lucky escape. From what the SEC says, Borders just made up some of its workpaper. And they didn't retain all the material they were supposed to keep for seven years after every audit. So all those issuers will have to start pretty much from scratch with a new auditor. One that will be hard to find.
Wowser! The first four tickers are or were in the case of EBET listed NASDAQ
SOLY I’m not familiar with it as well as TOBAF
The other three I’ve witnessed pump and dumps of short duration with a message forum buzz prior to the day the shares are run up
I will paste a 10 day at hourly intervals for Volcon (Jesus, what a name)
As one can observe there was a pump and dump 10 days ago
Imagine what the Ihub magpies were posting
Since Cromwell Coulson’s stock market has been under SEC siege even before the pandemic traders have migrated to trade third NASDAQ shares
When I view the new 52 week lows list from the Barchart what I have noticed is that website doesn’t include stocks priced below 25 cents
And these are the stocks traders who focus on companies getting delisted or about to go belly up
It is not at all unusual to watch traders chase up the price by 100 to 200 %
he is a real character. and a kid.
Why you guys do this to me? hang that carrot . .0001 stock going after IHUB posters $416 in bank. what is gods name did those posters say ? something crazy like this pos is going to .0001?
I am not even sure I ever heard of this stock before but I have no choice but to goo look.
Interesting that they imply they have some sort of royalty interests in a bunch of performers 2 of whom are very high on my list of talent. Halsey and Miley Cyrus in particular are very talented.
Go Boston! Maroon for a 4 peat!
Additionally, "NoDummy" is included on the list due to past actions, including sharing personal information and false accusations{
lol. idiot. what false allegations, jake? sharing personal info is not a crime. not only do you have no standing, you're just plain wrong.
It's rather ironic that this happened today. I was just in the process of obtaining pricing for a PCAOB audit firm for some of my affiliated entities. After receiving exorbitant quotes (starting at 1M USD and up) from the Big 4 firms, I reached out to that specific firm, even though we never even asked for a firm timeline. They claimed that if we hired them and paid $20,000 USD, they would complete the full audit within 2-3 weeks maximum. However, anyone familiar with my company's financials knows that such a timeframe for a full PCAOB audit would be utterly impossible. This discrepancy was a major red flag for us, leading us to reconsider moving forward with them & thank goodness that we never did move forward with them
Hello Janice,
I want to provide you with complete transparency regarding the recent developments. While I have no knowledge of "NoDummy" making any statements about SONG, I need to clarify the motivations behind our actions. Our objective is not financial gain; instead, we are seeking subpoenas to unveil the identities of those behind certain accounts.
Previously, accusations against me didn't really matter to me as I knew that they lacked any substance & I knew I wasn’t doing anything that I was being accused of. However, the situation has escalated recently.{particularly when I was tasked by my board of directors to announce a insanely aggressive reverse stock split after my personal attempt to negate the need for one failed miserably) There has been a distressing surge in death threats and horrifying notes sent to my family members. For instance, a particularly alarming threat was directed at my elderly grandmother, stating intentions of violence, including an appalling suggestion of sexual assault and setting her on fire. These threats extended to other family members, such as my wife and mother, among others.
Consequently, my legal team is diligently working to pursue individuals who have engaged in such online harassment both currently & in the past. Our aim is to obtain orders of protection to cease these reprehensible behaviors. It's crucial to emphasize that this isn't driven by personal vendettas but rather a necessary response to protect vulnerable family members.
Additionally, "NoDummy" is included on the list due to past actions, including sharing personal information and false accusations{although that was many years ago). Given the anonymous nature of these parties engaging in this malicious conduct and the escalating threats towards family members and associates, I cannot afford to take any risks. Furthermore, these individuals have targeted other executives at Music Licensing, Inc., their families, and even unrelated third parties they suspected of having connections to me or my affiliated entities.
So ultimately we just want the harassment and threats to stop & to set a clear precedent that My affiliated entities as well as myself will not tolerate such reprehensible behavior, harassment, threats, & cyber stalking, etc
By the way....this has now become a single subject...and big scam:
UPDATE: The Minnesota Myth, who are owned by the commissioner’s wife, have yet to receive any payment.
— Spring Football Zone (@SpringFBZone) May 4, 2024
Lee Hutton was supposed to come to practice tonight to deliver payment to players, but he failed to show up.
More below. #AFL pic.twitter.com/I6Qpg7CgLB
By the way...everyone in Boston is sweating their asses of currently..lol. They'll probably get it...but I am Team Canada all the way. Oilers first :)
Honesty...just for once. They can't be that stupid and blind..eh? I hope not.
I wonder if the Borger clients have to report that their former financials can't be relied upon.
Oh yes. They do. Marcum had a ton of clients, too. They were, at least in 2021, the seventh-largest auditor in the States.
That idiot pumper who thinks he's Zack Morris is back? The f***? I thought he was going to jail
That is tons of fun! First, DWAC realizes it's chosen the wrong auditor in Marcum. That was a year ago:
https://www.sec.gov/files/litigation/admin/2023/34-97773.pdf
And now Borgers, TMTG's auditor--which they fiercely defended in the past few weeks--has his head on the block. Really, WHY did the SEC allow this merger to happen?
This is usually the case ... "He was one of the few auditors that took new clients" Once you are set..you don't have the ability to bring in new clients. You simply don't have the time and capacity.
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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