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Posted by: Colorado5 Date: Friday, June 26, 2009 2:39:11 PM
In reply to: Colorado5 who wrote msg# 23690 Post # of 23694
SEC names B.C. man in Prime Time Group suit
2009-06-26 14:12 ET - Street Wire
See Street Wire (C-*SEC) U.S. Securities and Exchange Commission
by Mike Caswell
The U.S. Securities and Exchange Commission has filed civil fraud charges against Prime Time Group Inc., a B.C.-linked pink sheets company that claimed to own a chain of 7-Eleven stores in Puerto Rico. The SEC alleges that the company had to sell 92 per cent of its interest in the stores in September, 2006, but failed to tell shareholders about the sale, and continued touting revenue from the stores.
The SEC's complaint, filed on June 25, 2009, in the Southern District of Florida, identifies as defendants Dallas Robinson, a resident of B.C. who was the company's chief executive officer; Troy Metz, a resident of Regina who was the company's president; Johnny Ray Arnold, a resident of Fort Lauderdale, Fla.; and John Mattera, a resident of Boca Raton, Fla., who was one of the company's largest shareholders.
According to the complaint, Prime Time negotiated a deal with 7-Eleven Inc. in August, 2005, to acquire 14 stores in Puerto Rico and to become the exclusive licensee for those stores. To pay for the acquisition, the company entered into a promissory note agreement with Mr. Mattera which required it to pledge a 92-per-cent interest in the stores as collateral, the SEC claims. In April, 2006, Prime Time defaulted on the loan, and Mr. Mattera acquired his collateral, the 92-per-cent interest in the stores, in September, 2006, the complaint states.
The problem, according to the SEC, is that the company failed to disclose the arrangement with Mr. Mattera, and it failed to disclose that it had transferred its interest in the stores when it failed to pay the note. Instead, the company allegedly issued misleading news releases reporting positive sales figures for the stores. One, dated Feb. 28, 2006, announced that revenue from the stores was $18-million in 2005. Others, released between December, 2006, and November, 2007, stated that the company maintained an interest in the stores, but omitted the fact that it had lost its 92-per-cent ownership of them, the SEC says.
After losing the majority of its interest in the 7-Eleven stores, the company then started issuing false news releases about another business, a wireless division, the SEC alleges. In October, 2006, Prime Time acquired Robinson Wireless Inc., a Canadian company that purportedly had exclusive marketing agreements with Virgin Mobile, Fido and T-Mobile, the complaint states. The SEC says that the company actually had no marketing agreements with Fido or T-Mobile, and it only had an agreement in principle with Virgin, which never became a definite agreement.
After the purported wireless acquisition, Prime Time began issuing misleading news releases about wireless division's financial results, the complaint states. One, dated Jan. 23, 2007, stated that the division had generated $900,000 in sales, but did not state that the division had a net loss of $500,000 in the same period, the SEC says. (All figures are in U.S. dollars.) "At the time Prime Time issued these press releases, Robinson had reviewed the financial statements of the wireless division, and therefore knew its true financial condition," the complaint reads.
The SEC says the company issued misleading news releases about other deals as well. On May 2, 2007, it announced that it had acquired Southern Wheel Workz Inc., an automotive rent-to-own franchise. According to the statement of claim it touted the deal as a $100-million venture, but it actually never completed the agreement. It also announced an agreement to acquire Xpress Your Cell USA LLC, but again it did not have a final agreement, the SEC claims.
In addition to the news release allegations, the SEC also claims that the company issued 44 million shares to Mr. Mattera based on bogus promissory notes (not related to the 7-Eleven note). The notes were supposedly for $560,000 in loans, which would be convertible into 44 million shares. The problem, according to the SEC, is that Mr. Arnold fraudulently backdated the notes to 2005, which allowed the company to lift the trading restrictions that would normally have applied to the notes. The complaint also states that Mr. Mattera did not actually lend the company any money.
The complaint further alleges that Mr. Arnold arranged for Mr. Mattera to transfer some of the improperly issued shares to various stock promoters on behalf of the company. "This scheme was designed to circumvent the securities registration requirements because Prime Time could not legally issue unrestricted shares to the stock promoters without filing a registration statements," the SEC claims.
The SEC alleges one count of fraud against all defendants, and one count of unregistered distribution of securities against Prime Time, Mr. Arnold and Mr. Mattera. The regulator is seeking appropriate civil penalties and penny stock bans against all four men, and disgorgement of ill-gotten gains against Mr. Mattera.
The complaint does not mention the price of the stock, but trading records show that it declined from 45 cents to a low of three cents in 2006. It briefly rebounded to 35 cents in December, 2006, before falling below a penny in late 2007. The company rolled back 1:3,000 on Nov. 30, 2007, and changed its name to Hunt Gold Corp. Although the alleged scheme happened in 2006 and 2007, the SEC halted the company on June 15, 2009, citing questions about its publicly disseminated information.
The SEC acknowledged the assistance of the B.C. Securities Commission in filing the case.
gold supression problem for fprt hurasu ffgo;
http://www.gata.org/files/CheuvreuxGoldReport.pdf
probably unrelated
It refers to some kind of temp service. You know, hire a secretary for a week.
Report title: FORMAT PERSONNEL REMPLACEMENT TEMPORAIRE dba FPRT (Headquarters)
from D&B
not sure if relevant or not dated april 1 so before symbol removed ; i dont no what this is??????????????????????????????????????????????????????????????????????????????????????
"Dear Mr. Prisoner,
FORTRESS FINANCIAL GROUP, INC. (FFGO.PK)
Thank you for enquiry as to the status of the outstanding Stock Dividends in respect of the sale of the Company’s interests in the “Bouse” and the “South Copperstone” Gold Projects to Hurasu Resource Corporation (formerly First Platinum Retail Innovations, Inc.).
I am in a position to confirm the following :-
1) The Company is completing the sale of its interests in both of the above-mentioned Gold Projects to Hurasu Resource Corporation at this time on the same terms and conditions as previously announced.
2) Hurasu Resource Corporation was delisted from the “Grey Market”. We do not view this as an issue as that Company planned to move to the OTC BB; a process which could take as long as 6 (six) months, this time frame would have remain unaltered even if that Company had remained on the “Grey Market”. Given the fact that all Stock Dividends issued by Fortress Financial Group, Inc. in Hurasu Resource Corporation will bear a 2 (Two) year Restrictive Legend; this does not affect stockholder interests in the near term.
3) Fortress Financial Group, Inc. will not be in a position to complete the “Record Date” nor the “Pay Date” for its Dividends until a new Transfer Agent has been appointed and that Transfer Agent has correctly updated all stockholder data. It is unlikely that any distribution dates will be set before June 1, 2009. It is critically important to have an accurate and updated stockholder register.
You may rest assured that while we are attempting to expedite these actions, it would be foolish to rush the process, which would lead to countless errors in respect of the distribution of these shares of Hurasu Common Stock. We are at this time calculating the cost of this distribution as the services of certain professional third parties will be required in order to ensure a flawless and timely distribution of these shares to our stockholders; the Company is going to require additional funding to complete this distribution. This is an issue which we are addressing at this time.
Please be aware that once we are satisfied that all concerns are in order, we will immediately file for our “Record Date” and our “Pay Date” without notice to stockholders; this is to ensure that long standing stockholders benefit from this Dividend and not just those who would seek to purchase the Company’s shares of Common Stock just to take advantage of the Stock Dividend.
Previous dividends pertaining to the “Bouse” and “South Copperstone” Gold Projects will be paid separately as those “Record Dates” and “Pay Dates” were effected over 2 (Two) years ago.
We do not feel it necessary to issue any further Press Releases until such time as we have set the “Record Date” and the “Pay Date” of the Extraordinary Dividend, and those dates have been confirmed and published by FINRA.
Should you have any additional questions, please do not hesitate to E Mail them to me.
Yours faithfully
FORTRESS FINANCIAL GROUP, INC.
ALAN SANTINI
COMPANY SECRETARY" - Alan Santini
From: Prisoner
Sent: Tuesday, October 30, 2007 7:16 PM
To: Investor@fortfinancegroup.com
Subject: Share Holdings
As to the records you request. I am also faxing to you in regards to my account with TDameritrade from holdings as of 11/14/2005, 12/02/2005, 01/02/2006, 01/04/2006 and 11/07/2006.
We have been in touch with TD and they indicate they are in the process of helping in the process of getting correct share amounts for those of us who held positions with Greatwest Gold, Inc. on your specific time frames.
If you have any questions or concerns please feel free to contact us at 1 800 xxx xxxx of/fx. We would like to confrence call with TDameritrade to help further this process in a timely manner.
Thanky you for your attention to this matter.
Sincerely
Aka: Prisoner
Nice, Texan. Thanks.
Bonanza: Detachment fault gold / silver deposit. Former Phelps Dodge project.
Bouse: Gold and silver detachment fault deposit in La Paz County, Arizona. Former Homestake Gold
project.
Clara Moro, Silverfield Gold: Gold deposit in detachment fault environment. The Clara property has
encouraging results from a drill campaign by Nevada Pacific. The Silverfield may be a hot springs high
grade gold/silver deposit in detachment fault environment. It is close to Clara Moro and could be jointly
explored.
Ester Basin: Gold, silver and copper deposit spatially associated with diatreme in detachment fault
environment. Former Phelps Dodge project.
McCracken Gold: Gold with silver and copper in breccia zone adjacent to one of Arizona’s historic
silver producers.
Mockingbird: Gold and silver deposit related to detachment fault. Anaconda/Chevron work indicated
potential.
North Rawhide: Upper plate gold, silver and copper deposit. Former Phelps Dodge project.
Oatman: A dozen mines in Arizona’s largest primary gold district. Includes patented Lexington gold
mine. High-grade Tertiary vein deposit in volcanics with potential for low-grade open pit resource.
South Copperstone: Large contiguous claim block adjacent to the Copperstone Mine, Arizona’s largest
recent open pit gold producer.
References:
DeWitt, Ed, Thorson, J.P., and Smith, R.C., 1991, Geology and ore deposits of the Oatman district,
northwestern Arizona, in Epithermal gold deposits - Part II, Chapter I, in Shawe, D.R., and Ashley,
R.P., eds., Geology and resources of gold in the United States: U.S. Geological Survey Bulletin 1857-
I, p. I1-I28
Richard, S.M., 2002, Database for Mineral Districts in the State of Arizona, Arizona Geological Survey
DI-23, 1 CD-ROM.
Spencer, J.E., and Welty, J.W., 1989, Mid-Tertiary ore deposits in Arizona, in Jenney, J.P., and Reynolds,
S.J., eds., Geologic Evolution of Arizona: Arizona Geological Society Digest 17, p. 585-607.
Descriptive model of detachment fault related polymetallic deposits –
http://pubs.usgs.gov/bul/b2004/html/bull2004detachmentfaultrelate_polymetall.htm
11
What company are you referring?
yes we'll see soon enough still have hope, but will sighn off now sanjose sharks lost and afew beers ,will be reading the forum tomorow or to day cali 11:45
well Mon is here already ; for a company that has sent reems of PR for them to go black out only can be a controled move furthermore the last batch of messages said no more until divi resolved and there were wispers of some shareholders raseing hell with lawyers or something so ...if there has been a change of plans we will know soon enough by the company
For what?
better say a prayer
i dont even own this one...
NO ONE posting here ever owned this one. And now it's dead and gone, so be glad you didn't.
yea tired of shorters and bashers on this one i'm a newbee as far as ive traded 4 stocks flmp made $ hisu lost my as#### waiting for divi 2 yrs now xsnx in for 1 month now ffgo but now being laid off really want to get serious. just now found these forums to see whats really going on
I was seriouse you picked out exactly what the negs are touteing as the most irelivant thing great insight you nailed it.
and i havnt sold anyland on open market in almost two years no financeing for development or raw land only well established old customers of the banks its hard here too in tx.
trying to learn what i can theres money somewhere constuction in cali sucks so im learning a new trade hope this is it also bought xsnx lead me right way
very insightfull for a newbee
are 2 different companys allowed to have same ticker.
No, not at the same time. An inactive ticker may be reassigned, however.
I love a good sunday funny.
is it possible lumb and santini are trying to be honest with ffgo.but bashers and shorters screwed it all up
that FRPT the letters are transposed
a new weeks starting ,so we'll see
ya think? I dont see the fat lady yet so we will see
is it possible lumb and santini are trying to be honest with ffgo.but bashers and shorters screwed it all up
ive seen some here and there but only in name and very non discript scion posted a bunch
i think thats a google glich i ran into that too
are 2 different companys allowed to have same ticker. fprt is allso force protection
No. FINRA has not "delayed" anything. They've deleted FPRT. It is GONE. OVER as a public company.
could be a problem with phantom shares and PR manipulation NO?
this could be finras delay hault ? unknown but could be
Do you think fprt could have this kind of manipulation BOB?
FPRT no longer exists as a public company.
hey BOB41 hows this for fuzzy facts?
"An email from a "fellow" that has been in bed with Lumb for many years is to be considered fact?
Fuzzy wuzzy and then some."
talk about fuzzy facts makes ya wounder BOB doesnt it? Do you think fprt could have this kind of manipulation BOB?
http://findarticles.com/p/articles/mi_m0EIN/is_1999_Dec_7/ai_58061927/
or this http://www.secinfo.com/dPx8x.64.htm
Did you tell Barry that the ticker had been deleted?
talked to Barrry ta says "inbetwen "? said he wasnt lawyer etc split has not been oked yet and new sybol was aplied for to his knowledge all he could say is they are inbetween and have been in contact with comapany. Its thin but all i could get april 16 tx
no train smash ; hm? Hurasu ? Bonanza? claims? divi?
"Bonanza", "Clara", "El Dorado", "North Rawhide", "Ester Basin", "Potts Mountain"and "McCracken" Gold
Whatever you say.
enjoy your night.
I couldn't resist, so I asked lol
It's dead. The ticker is gone.
And I never said that FFGO would be dumped to the Greys in October. I merely pointed out that it's years delinquent in its Ks and Qs, and so the SEC could suspend and move to revoke registration at any time. Same's true of HGLC.
Janice being completely serious.
Maybe you should wait and hear back from lumb (since he writes to you) to make the final call.
The grey call was premature back in October so it might be a good idea again.
If he says it is dead (officially) then so be it. Until then have a great ihub board experience.
LOL!! You make a good point. But CMKX has had a long and dishonorable history; FPRT died aborning...
some stocks never die -- they just move to a higher plane...
(somebody out to ask matt to close the cmkx board to further posting lol)
Yep. All gone. End of this board...
Good thing I took a snapshot:
http://www.pinksheets.com/pink/quote/quote.jsp?symbol=fprt
Symbol "FPRT" not found.
POSTED ON FFGO BY BOBBYBDB:
Chase, Yes out with the old in with the new.
It is no coincidence that Alan in his email to shareholder Tom, that the date he stated (April 13) is the EXACT effective date of the action to DELETE FPRT to status of inactive.
Snip....
They have (or are in process) of filing with FINRA a "Record
Date"; that being April 13, 2009 and a "Pay Date" of April 15,....snip
Tom,
As I announced recently, we are awaiting the Hurasu Resource Corporation
(formerly First Platinum Retail Innovations, Inc.) corporate actions to be
completed and their Reverse Stock Split dates to be announced and confirmed
by FINRA; prior to Fortress Financial Group, Inc. announcing its Dividend
"Record Date" and "Pay Date".
I have been advised by the Attorneys acting for Hurasu Resource Corporation
that they:
(a) Obtained their new CUSIP Number (447321 118) and ISIN Number (
US4473211187); and
(b) Filed for a name change and applied for a new Trading Symbol from NASDAQ
Corporate Actions; and
(c) On March 13, 2009 they filed an Amendment with the Secretary of State of
Nevada; whereby an Amendment to their Certificate of Incorporation was
lodged whereby they consolidated their outstanding shares of Common Stock in
the amount of 10 shares of their Common Stock for every 1 share of their
Common Stock. They have (or are in process) of filing with FINRA a "Record
Date"; that being April 13, 2009 and a "Pay Date" of April 15, 2009 to
complete the aforesaid Reverse Split of their Common Stock.
They will announce their completion of these "Corporate Actions" and their
confirmed Dividend Dates VERY shortly.
Fortress Financial Group, Inc. will then immediately file with FINRA our
Stock Dividend dates to distribute Fortress Financial Group, Inc.'s
stockholding in Hurasu Resource Corporation. Should these aforesaid dates,
as above-mentioned and in respect of Hurasu Resource Corporation, be
acceptable to FINRA, Fortress Financial Group, Inc. will receive their
shares of Hurasu Resource Corporation Common Stock on April 16, 2009.
We would be in a position to set a "Record Date" either before or after
April 16, 2009. Stockholders will be advised accordingly; we are not
prepared to announce our "Record Date" until approved by FINRA. Please be
cautioned that may announce the "Record Date" well before April 16, 2009.
Should you not be a stockholder cat the "Record Date" that we set; you will
not be eligible for this Dividend.
Whilst the "Pay Date" of this Stock Dividend by Fortress Financial Group,
Inc. cannot be prior to April 16, 2009; this does not preclude us from
setting the "Record Date" with no notice whatsoever and well before the "Pay
Date".
We do not feel that any further announcements are necessary until these
actions have been completed.
Kind Regards
Alan Santini
COMPANY SECRETARY
FORTRESS FINANCIAL GROUP, INC
This is an email reply to one of FFGO's shareholders.
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HURASU RESOURCE CORPORATION
https://esos.state.nv.us/SOSServices/AnonymousAccess/CorpSearch/CorpDetails.aspx?lx8nvq=YXYRu%252bALt6es5H%252fOvV267w%253d%253d
https://esos.state.nv.us/SOSServices/AnonymousAccess/CorpSearch/CorpDetails.aspx?lx8nvq=YXYRu%252bALt6es5H%252fOvV267w%253d%253d
The Company is engaged in the Exploration of Gold in the USA through its ownership of the "Bonanza", "Clara", "El Dorado", "North Rawhide", "Ester Basin", "Potts Mountain"and "McCracken" Gold Projects. The Company's flagship Mine is its "Bonanza" Gold Project. The Company has agreed to to acquire two additional Gold Mining Projects, those being"South Copperstone" and "Bouse". The Company will conclude these transactions post the Reverse Split of its outstanding shares of Common Stock.
First Platinum Retail Innovations, Inc. (Symbol : FPRT) quoted on the OTC Markets and incorporated in the State of Nevada has changed its name to that of Hurasu Resource Corporation (hereinafter referred to "Hurasu").
FFGO 8K FILING on 1/22/09 REGARDING HURASU EXTRAORDINARY DIVIDEND
msnmoney.brand.edgar-online.com/DisplayFilingInfo.aspx
http://ih.advfn.com/p.php?pid=nmona&cb=1237330015&article=36816503&symbol=NO%5EFPRT
http://ih.advfn.com/p.php?pid=nmona&cb=1237330245&article=36816530&symbol=NO%5EFPRT
biz.yahoo.com/iw/090220/0476049.html
http://ih.advfn.com/p.php?pid=nmona&cb=1234579100&article=36246243&symbol=NO%5EFPRT
http://ih.advfn.com/p.php?pid=nmona&cb=1234579280&article=36248798&symbol=NO%5EFPRT
Outstanding Shares
123,252 as of Feb 4, 2009
Authorized Shares
2,900,000,000 as of Feb 4, 2009
Number of Share Holders of Record
263 as of Feb 4, 2009
Float
123,252 as of Feb 4, 2009
Ron Lowenthal owner, incentive securities johannesburg area, south africa • education • university of pennsylvania - the wharton school • university of sussex connections 2 connections industry financial services; Ron Lowenthal’s experience • owner incentive securities (financial services industry) currently holds this position • director incentive securities (self-employed) (self-employed; 51-200 employees; financial services industry) november 1998 - present (9 years 9 months) specialising in corporate finance, mining; Ron Lowenthal’s education • university of pennsylvania - the wharton school 1969 - 1971 • university of sussex b.a. (hons), international relations, 1966 - 1966
Name: Olde Monmouth Stock Transfer Co Inc
Street: 200 Memorial Parkway
Atlantic Highlands, nj 07716-1655
Phone: (732) 872-2727
new TA aprx 3/18/2009
First American Stock Transfer
Phoenix AZ
602 485-1346
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