Global Resource Corp (fka GBRC)

[Hawk Hogan]

Can't get any lower and have you ever had microwave toast before?

[meru]

Been out of the loop. Is this thing toast for good? I'm guessing we are stuck at .0001...

[Hawk Hogan]

The following is one of my first postings after I decided to quit as chief engineer at GRC March 20, 2007. Can you now see what a scam this was:

To: Hardball88 Thursday, March 27, 2008 1:49:19 PM
Yahoo Message Board - Poster, "Hawk Hogan" comments:

The idea of using universities in collaboration of technologies is a marketing ploy to get some validation of protocol. Penn State never had any microwave devices in the X-band range. Now they have a tube supplied by GRC in C and X Band range to make their discoveries. Just to make myself clear about something, when I said everything has a frequency that excites itself best doesn't mean that other frequencies won't do the job. When I started work at Carbon Recovery Corporation we were using a commercial microwave oven with 2450MHz frequency that did a fine job of what is being sold now in the X-band range.

Divorce? Well since you put it that way, I was tired of being screwed and not kissed. I think Frank wanted me out of the way because I knew too much. Besides he never liked to share the lime light and I became too popular for his liking. He’s been trying for some time to make the HAWK machine lose its name and we battled over engineering details. Aside from what’s been said he’s not an engineer and never graduated with any technical degree. He’s been a sales guy most of his life and used to supply conveyor installers to my projects while I was a corporate process engineer with Anchor Glass Container Corporation.

Patent Applications? Yes they are filed since last December and it will be years before (when or if) a patent is issued. Much of the verbiage of the application is mine just like the GRC business plan I wrote, marketing materials I created, engineering concepts/drawings, proposals, machine costing (note I didn't say selling price), equipment manufacturing/sourcing all done by me.

When I first designed the prototype that will be demonstrated unsuccessfully at Ingersoll, I planned a 12.5kW klystron microwave tube to be used in that machine. Unfortunately it would take a year from the date of order to get one integrated. Now they will use a combination of TWT’s with not enough ass to process anything in that size cavity. The prototype is nothing more than a vacuum conveyor enclosure now.

I brought Ingersoll to GRC as a manufacturing company not knowing then they farmed out all their manufacturing and I got Jeff Kimberly to come aboard at the request of Frank Pringle not knowing he would replace me but think about it, the press release of the caliber should've done well except it didn't. By the way Jeff Kimberly does not have a formal engineering degree either. So he brought a business plan to Frank to get his formal employee engineers who broke away from Ingersoll to start their own firm to contract with GRC.

I wouldn't put a lot into what some people say in response to what I've said here. It helps me to ascertain who's holding the bag and those with reason to hype the boards. I mean if I was holding the stocks to broker I'd do it too. But there's really nothing I've said in here that is not public knowledge if one does his due diligence. After all the magazine articles and radio shows I’ve done most of this was common knowledge. Remember I'm a contractor, who was working without a contract, who certainly wouldn't be sitting in on company meetings discussing privileged information especially since I didn't have any nondisclosure agreement. Now there may be some whistle blowing lately but that would be protected by the Act. Not that those holding that bag of stocks would like to hear.

[bigone]

Thanks Hawk for the update.

[Hawk Hogan]

Case Name/Number:

United States v. Gunter, et al.,

Case# 8:08-cr-00172-T-26EAJ

Case Status(updated 8/16/2011): Trial is set to begin January 30, 2012 and is estimated to take 2-3 months. Guilty pleas pursuant to plea agreements must be filed by November 30, 2011.

Defendants Roger Lee Shoss and Nicolette Loisel have been dismissed from the Gunter indictment and have been charged separately for their conduct in United States v. Shoss, et al., Case # 8:11-cr-00366-T-30TBM. A copy of that indictment is available for review on this web page. These two individuals are charged with the hijacking or existing, dormant, publicly-traded companies. Shoss and Loisel are scheduled for trial in December 2011.

Next Scheduled Court Event:
Status Conference: December 8, 2011 at 9:00a.m.

[bigone]

It certainly was the case for GBRC. What is next scheduled for the court hearing?

[Hawk Hogan]

It's funny that microwaves are like sound waves and frequencies of waves is easily misunderstood in fact so much so that people are conned out of their hard earn money because it sounds too good to be true and guess what . . . . . it is!

[bigone]

Appears that CFTN is working on microwave extraction of precious metals.

[Hawk Hogan]

Well yeah my viewpoint is known by many but too late to save all the people who got ripped off by this scam.

[pacor]

After 6 years of 'fun' with GBRC (and other companies), I've managed to get a bit more 'savvy' re investment basics, but for in depth info re legal issues etc others are much more able. Both Ihub and Yahoo boards have accessible history to answer most queries you might have and the SEC filings will certainly provide all the information you would need to gain insight into the murky depths of GBRC, as orchestrated by our erstwhile CEO Frank Pringle.

You also could try asking our current moderator, Hawk Hogan, to give you the benefit of his experience re GBRC. As a previous employee he was in a position to fully 'understand' the intracacies of recovering oil using Microwave technology as applied to used tyres,general waste, tar sands etc. His viewpoint is well known by many!

As to status quo with GBRC...as far as I am aware trading remains suspended. It does not look like there is any way back at this point. I await with interest the court case you posted about....kick-off in January 2012 (if no further delays)and should take about 3 months. As far as I know Pringle has not been named with regard to charges made and it remains to be seen if he is called in any way to the hearing.If fraudulent practices (re MSRM stock selling by the defendents) are proved it is difficult to see how senior officers of MSRM/GBRC will not be subsequently questioned.
You asked how issues could slip through.....by way of one example, if you refer to the S1 of 2008 you will see great detail re the MobileStream Liquidating trust which was set up to look after the rights of MSRM stock holders after the GBRC acquisition. That trust is a legal body which to date has failed to provide the necessary protection. Set up conditions do not appear to have been adhered to....so no surprise there then....

Unfortunately it looks like the Microwave technology as applied by GBRC was flawed....so unless someone comes along with money and a solution then final rites surely cannot be far away.

[duncanmcl1]

Thank you Pacor....so our issues goes back to our original corp formation...with all the legal directors in our management...how could this slip through....can you further share where our current legal issues are....any chance of making it out alive....It seemed we had such a great future....is it possible we survive?
Thanks again for your sharing your understanding. Jim

[pacor]

This from the prospectus summary of GRC SEC filing (S1A) 22nd Oct 2008.
"On December 31, 2006, we acquired the assets of Mobilestream Oil, Inc.
("Mobilestream")pursuant to a plan and agreement of reorganization dated
November 28, 2006 (the "Mobilestream Acquisition Agreement") between the Company
and Mobilestream. At the time of the Mobilestream acquisition, Mobilestream was
controlled by Frank G. Pringle, our Chairman, and at the time of the
acquisition, our President and CEO. No Mobilestream stockholder was a party to
the Mobilestream Acquisition Agreement. We issued to Mobilestream 11,145,225
shares of our Common Stock. We also issued 35,236,188 shares of our 2006 Series
of Convertible Preferred Stock to Mr. Pringle. Lastly, we issued to Mobilestream
common stock purchase warrants (the "Mobilestream Warrants") to purchase shares
of our common stock on the basis of 1 Mobilestream Warrant for each 3 shares of
either Mobilestream common stock or preferred stock exercisable at $4.75 per
share for a period ending on December 31, 2007. Subsequently, our Board of
Directors extended the exercise date of the Mobilestream Warrants to December
31, 2008. We also assumed Mobilestream's liabilities which were minimal."

GRC aqcuired Carbon Recovery (CRC)and Mobile Stream (MSRM) in September /December 2006 respectively. A number of issues re the acquisition were dependent upon the registration of the newly acquired stock..... application for which was submitted to the SEC in February 2008.However, a 'Declaration of Effectiveness' from the SEC was never achieved by GRC and so MSRM/CRC stock holders have claims remaining against GRC.

IMO this is relevant to the USA v Gunther et al case because non-USA resident MRSM holders who have made a formal 'declaration of interest' to the court will be eligible for compensation if the USA prevails, although their MSRM shares remain apparently part of GRC stock,notwithstanding the above.

[duncanmcl1]

how does this court agreement have to do with Global Resources Corp??

[pacor]

August update for Gunter et al proceedings

http://www.justice.gov/usao/flm/vw/usvsgunter.html

[Hawk Hogan]

You can catch his new act at http://www.perpwindpower.com/frank-pringle.html

[Hawk Hogan]

Yeah well Frank's up to his old game, scamming people over at http://www.perpwindpower.com/about.html

And Kinsella is waiting on his green card to expire at the lonely office of GBRC before he get kicked out of the country.

[foonmastering]

Any idea were they all went: Frank Pringle, Ken Kinsella, etc.
Do you have any news on the lawsuit, any news at all ?

[Hawk Hogan]

If we had we would be in the same boat; no investment, no chance for a future, a scam and we might be getting old living in the Ozarks amongst all the critters!

[kennypooh]

Reinstated.....should return to normal trading.
http://www.dtcc.com/downloads/legal/imp_notices/2011/nscc/otc/OTC118.pdf

[kennypooh]

Looks like the DTC has made all 17 included with GBRC and suspended by the SEC 'trade for trade'.

http://www.dtcc.com/downloads/legal/imp_notices/2011/nscc/A7226.pdf

[Hawk Hogan]

The SEC suspension is scheduled to last until June 20, pending the outcome of a hearing.

http://www.bizjournals.com/triangle/news/2011/06/09/trading-of-global-resource-stock-halted.html?ana=yfcpc

I hope they ask my opinion as to why they're profoundly ignorant, simple minded, manipulative, arrogant and self-serving scammers!!

[what-a-mess]

GBRC: http://sec.gov/litigation/suspensions/2011/34-64612.pdf

[Hawk Hogan]

The Securities and Exchange Commission halted trading in 17 microcap stocks it said had been hyped by Internet promoters despite a lack of reliable information publicly available about the companies.

The mass trading suspensions represent the SEC's first action to call attention to possible penny stock promotion schemes since it began a stepped-up effort last fall to crack down on the proliferation of microcap stock scams.

The SEC said stock-touting websites, Twitter users and often anonymous individuals posting to message boards, "I think I know a few", have swayed the investing decisions of the public which often doesn't have adequate information about the securities.

[Richard2]

Thanks for the update.

[Renee]

GBRC : SEC Suspension :

http://sec.gov/litigation/suspensions/2011/34-64612-o.pdf

[Hawk Hogan]

What happened to the latest financial discloser that was put up here April 19, 2011? It's missing today!

[Hawk Hogan]

And the stock was given to me for all my hard work as chief engineer, now all they have to do is pay me the additional 5 million they promised.

[VR-Strategy_Advisor]

Apparently you would. You've been posting here since 2008.

[Hawk Hogan]

This was a freak encounter. The message appeared like it was said recently, then I answered and then today checking back in it shows it was dated last year. I thought I was in the twilight zone. Very freaky and if anything good came out of it I would say that I had a close encounter with the almighty, walk around with a staff and claim to be Moses.

[Richard2]

What other board?

[HawkHogan]

You know how this rumor go’s! It ain't happening never will, never was, and never can be but at least you can spell rumor now.

[Hawk Hogan]

Yeah we did a damn good job promoting this stock when everything looked right. I thought the SP should have been even more back then and before the demise was discovered in 2008. Good for you!

[Richard2]

You got in and out at the right time.

[shotei]

I bought in at $1.25 and sold at almost $5 back in 2007 been watching every since.

[Hawk Hogan]

Who would play this loser stock since 2008 when I said it's a scam and I'm was the chief engineer? Is it just people would throw money away. Throw some to me if you're that stupid.

[Hawk Hogan]

United States v. Gunter, et al., (that means friends)

Case # 8:08-cr-00172-T-26EAJ

Case Status(updated 5/13/2011): The Court set the following deadlines: (1) the government shall furnish its exhibit list to the Defendants on or before October 3, 2011; (2) the parties shall file all pretrial motions on or before October 28, 2011, with responses to be filed on or before November 14, 2011; and (3) trial will commence on January 30, 2012.

[Hawk Hogan]

42 million in 8 years! I've seen this kind a cash burn on t v. Lottery winners where are they now. It's a shame you sucked some many honest believers in.

What happened to the UAF –vs – GBRC filed a temporary restraining order in the state of North Carolina, Wake County, restraining GBRC from selling, disposing, moving or relocating any of the Company’s assets decided May 2, 2011.

Frank is up to his old but old tricks again just like at GBRC and he thinks he’ll be forgotten. We shall never forget that GBRC was a scam and this new venture is also a scam. In fact you can’t claim perpetual motion for patent. The address on this newest scam is Frank’s address on Bortons Rd in Marlton, NJ just down the street from Little Mill golf course. Paul Gilgallon of United Capital Group is one of the money men GBRC was originally involved with. http://www.unitedcapitalgroup.com/perpetual_wind_power.php

[Hawk Hogan]

Ok I'll do it for lack of anybody else.

Here is the latest on the ( Mobilstream ) Case # 8:08-cr-00172-T-26EAJ

Case Status(updated 4/19/2011): Defense counsel for defendant Odoni requested one month to reveiw the case and will be ready for trial in January 2012. All other defendants will be ready for trial in January 2012. Trial is estimated to last 2-3 months.

[Hawk Hogan]

Thank you kennypoo for being our Mod. You have done a good job and we will miss you.

Now looking for a new moderator, how about joe pringle?

[Hawk Hogan]

This is from the February 27 at 4:46am post on Facebook which I thought was appropriate to include over here.

Dear Mr Kinsella,

There are a lot of questions we would like to be answered at the Share holder conference call:

After 5 filings, discussions with the SEC officials in New York and the services (!!??) of a specialist (!!??)law firm, we are still were we where 5 years ago when CRC was supposed to go public.

There are 2 possibilities: Or the SEC officials are stupid fools, or the staff at GBRC are completely un-competent.
For the 3rd time there is a new accounting firm, there is again a new board of directors and Jeff Andrews has been replaced as CFO. Jeff is the only surviving staff member since the start of the company, he should know all the ins and outs, but so far hasn't been able to resolve this problem.

On the last conference call you told us Brian Ettinger's firm was going to resolve this lang standing problem. Now that he has been removed from the board, is he still with the company as a consultant in this matter ?

What makes you think the next S1 filing will be the good one ?
What is the nature of the questions/remarks of the SEC? Accounts, history of the company (ies)?

- Prototype
We have had no news on the prototype for more than a year now !
What has happened to it since ?
Has it been tested in normal production, 24/7?
Where are you with the Patriot 2 ?
We understand it is a 1ton/hour. Universal Alternative Fuels' order was for a 1 ton/hour.

Why haven't you started building this Patriot for them ? There cannot be to much difference mechanically between tires and coal.
Is there a problem in getting Klystrons or TWT's at the specified frequency and power "off the shelf"?

My electronics degree is nearly 40 years old and being a sound engineer, I' am no specialist in those extreme frequencies, but my feeling is that trying to make klystrons or traveling wave tubes yourself is at least a bit reckless !

UAF's order dates from October 14, 2009.
Delivery should have been 12 months from order.
Contract with UFA stipulates: " subject to the company's ability to manufacture such machines..." and that under certain conditions UAF will even become the owner of the prototype !!
When will this Patriot be delivered ?

Even AGS financing agreement for the $10,000,000 is not very sure !

Technology
Who is the owner off the technology at this time ?
Owner was or still is Frank Pringle and Carefull Sell.
Ownership went to PSO, then to Mobilestream Oil.
CRC has the exclusive right to use the technology - correct so far ?
GBRC bought MSO and CRC.

GBRC now has the patent to the technology - right ?
Frank Pringle has been payed for his MSO shares. Other MSO and the CRC share holders are still waiting for their shares in GBRC, in other words they have not been payed yet.

How can GBRC have the right to use the technology (patent) if they have paid for the technology but not for the exclusive right to use this technology ?

JV's
What is the news on the Slumberger and the Phoenx Renewable Energy JV's ?

For the XXX-time we would like to ask you: Why is all news and press releases on contracts and JV's always so one-sided ?
No mention what-so-ever on the other parties websites. (Slumberger, PRE, C6; UAF even remains a big mystery firm)

Hoping to get satisfactory answers on the conference call,
We remain,
Yours sincerely,
Paul Van der Jonckheyd
Belgium

[Hawk Hogan]

Much to do about nothing! Since 2002, and here it is almost 10 years later, there hasn't been a scale up demonstration of a working model as claimed. Forget about the excessive costs. IMHO

[kennypooh]

Latest legal updates from the 10Q filed today. 4/14/2011

Item 1. Legal Proceedings.

Jeff Kimberly
In April 2010, Mr. Jeff Kimberly, the Company’s former President, filed a lawsuit in the Superior Court of New Jersey in Burlington County against the Company, Brian Ettinger and Ken Kinsella, the Company’s former Chairman of the Board and Chief Executive Officer, respectively, for wrongful termination of his employment contract. Mr. Kimberly is asking for the remaining salary in the amount of approximately $225,000, and stock options to purchase up to 1,500,000 shares of the company’s Common Stock, allegedly owned to him under his employment contract dated September 23, 2008. As of the date of the filing of this report, the Company is in settlement negotiations with Mr. Kimberly.

UAF
Prior to the date of this filing, the Company received from UAF a Termination Notice with respect to the License Agreement and Purchase Order and a Foreclosure Notice in connection with the Security Agreement. The Company believes that, for a number of reasons, pursuant to the terms of the License Agreement and all related agreements, the Termination Notice and Foreclosure Notice are invalid. On July 26, 2010, the Company issued a Default Notice to UAF as a result of UAF's failure to issue the Equity Interests and make the required Purchase Price payments pursuant to the terms of the License Agreement and Purchase Order. UAF has 60 days from the date of the Default Notice to cure such breach. If UAF has not cured the breach within the 60 day time frame, the Default Notice serves as notice of termination by the Company of the License Agreement and Purchase Order. Upon such termination, UAF's lien pursuant to the Security Agreement would terminate. The 60 day time frame has elapsed as of September 26, 2010 thereby terminating the License Agreement and Purchase Order. On October 20, 2010, UAF sent a Notice of Disposition of Collateral to the Company notifying the Company that certain of it patent applications and other items as identified in the Security Agreement would be offered for sale at a public auction on November 4, 2010. To the Company’s knowledge such auction was not held. On December 16, 2010 UAF issued a press release announcing a change in the date of the public auction to December 22, 2010. Representatives of the Company attended the auction held by UAF at which UAF auctioned certain of the Company’s assets to itself. On January 14, 2011, the Company filed a complaint in the Supreme Court of the State of New York (1) seeking compensatory damages for breach of contract in an amount to be determined at trial and (2) seeking a declaratory judgment that UAF (a) did not and does not have the right to terminate the Purchase Order; (b) did not validly exercise the purported termination right; (3) is not entitled to seize, attempt to seize, sell, attempt to sell, transfer or request the transfer of, auction or attempt to auction any property, including without limitation any property identified in the License Agreement, Purchase Order and or Security Agreement; and (4) permanently enjoining UAF from seizing, selling, transferring, or attempting to auction any property. There are no assurances as to the outcome of this dispute.

On February 28, 2011, UAF filed a complaint in the state of North Carolina General Court of Justice in Wake County (1) for breach of contract, alleging damages in the amount of $1,713,000; (2) seeking possession of the Company’s prototype or in the alternative, damages for its conversion; (3) treble damages and attorney’s fees as a resulting from an alleged violation of the Uniform Fraudulent Act; (4) the appointment of a receiver and (5) seeking a preliminary injunction enjoining the Company and its insiders, employees and or/agents from transferring or disposing of any property or assets of the Company including patents or its prototype. Additionally, on March 3, 2011, UAF filed a temporary restraining order (the “Restraining Order”) in the state of North Carolina in the General Court of Justice in Wake County restraining the Company from selling, disposing, moving or relocating any of the Company’s assets. The Restraining Order is in effect for ten (10) days from March 3, 2011. The Restraining Order has temporarily been extended until a hearing in the Wake County courts scheduled for May 2, 2011.

[Hawk Hogan]

Nope I can wait a little longer and seeing the website suspended means I don't have to wait too much longer.

[kennypooh]

Hope you're not too pissadointed!

[Hawk Hogan]

Never mind! I think I read robertbandersons post a little too fast when it said:
APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS DURING
THE PRECEDING FIVE YEARS:

Indicate by check mark whether the registrant has filed all documents and reports required to be filed by Sections 12, 13 or 15(d) of the Securities Exchange Act of 1934 subsequent to the distribution of securities under a plan confirmed by a court. Yes ¨ No ¨ .

[kennypooh]

There was no post on the Y board discussing a BK filing?....nor has one been filed to my knowledge...the only discussion was regarding the 10Q filed yesterday...unless there were deleted posts that I missed?

[Hawk Hogan]

I'm kind of tired of copying a post on the other board, which is slightly more active, and pasteing it over here.

[Richard2]

Kind of like someone telling us that the ship has sunk after we've been floating in life boats for a month. Lol

[Hawk Hogan]

The other board!

[Richard2]

Where can I find that information?