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NYC jury convicts ex-CEO in $110 million fraud
ReutersBy Jonathan Stempel | Reuters – 21 hrs ago
NEW YORK (Reuters) - A Manhattan jury convicted a former Industrial Enterprises of America Inc chief executive on Tuesday of stealing more than $110 million from the chemicals company and its investors, prosecutors said.
James Margulies, 47, was convicted on 30 felony counts, including grand larceny, scheming to defraud, conspiracy falsifying business records, and violating the Martin Act, a state law used to combat securities fraud.
Sentencing is scheduled for August 9, according to the office of Manhattan District Attorney Cyrus Vance Jr, which announced the conviction.
John Mazzuto, who preceded Margulies as chief executive, pleaded guilty in January to four felony counts over the same scheme. He testified against Margulies at the six-week trial before New York State Supreme Court Justice Gregory Carro. Mazzuto has yet to be sentenced.
Lawyers for Margulies did not immediately return calls seeking comment.
According to prosecutors, Margulies ran a "pump-and-dump" scheme from 2004 to 2008 in which he fraudulently issued 43 million Industrial Enterprises shares totaling more than $90 million and used the proceeds to inflate the Pittsburgh-based company's balance sheet.
They said the Cleveland resident then sold his stock at inflated prices to bankroll a lavish lifestyle, including expensive homes, a $350,000 ring for his wife, a $500,000 vacation club membership and private jet travel.
Investors including an Ohio teachers' pension fund and the Methodist Church lost more than $20 million, prosecutors said.
Mazzuto retired in 2007 as chief executive and Margulies succeeded him for a short time in 2008, having also served as chief financial officer and general counsel, prosecutors said.
Industrial Enterprises filed for bankruptcy protection in May 2009.
Mazzuto testified he and Margulies created bogus minutes of board meetings that never took place and tried to conceal the fraud by falsifying documents of consulting services that were never provided.
(Reporting by Jonathan Stempel; additional reporting by Joseph Ax; editing by Andre Grenon)
http://news.yahoo.com/nyc-jury-convicts-ex-ceo-110-million-fraud-225819944.html
could be a breakout to where normal volume trading is incurred ..remember this bad boy was in the nasdaq
Written by Matt Spillane
Sunday, 24 April 2011 00:00
http://www.acorn-online.com/joomla15/lewisboroledger/news/localnews/91639-company-sues-weisberg-over-pump-and-dump-scam.html
A Pittsburgh chemical company is suing Waccabuc resident Martin Weisberg and his former law firm over allegations that the firm engineered the company’s downfall.
Mr. Weisberg and Baker & McKenzie LLP are being sued for the financial collapse of Industrial Enterprises of America Inc. (IEAM), according to a complaint filed in U.S. Bankruptcy Court in Wilmington, Del., in which the plaintiffs are seeking punitive damages and restitution for full value of improperly issued shares of stock.
IEAM alleges that Baker & McKenzie defrauded the company out of $150 million and is seeking $600 million in damages.
Lawyers for IEAM said in the complaint that the defendants “created a legal structure that enabled an unlawful pump and dump scam, misleading or outright false NASDAQ and SEC filings, and participation in a host of internal corporate malfeasances designed to raid the company of its working capital.”
According to the complaint, Mr. Weisberg and his firm were illegally issued millions of shares of freely traded stock, which benefited company executives and their girlfriends and attorneys. The shares were supposed to be reserved for employees, outside directors and consultants of IEAM.
This is not the first run-in with the law for Mr. Weisberg, who left Baker & McKenzie in 2007. In 1991, he was indicted for conspiring to defraud investors in a currency-trading scheme, according to the complaint. He was indicted in 2007 for securities fraud, money laundering and conspiracy in a short-selling scheme that allegedly netted him unlawful kickbacks. In 2008, he was indicted again for allegedly stealing more than $1 million in interest from a client’s escrow account.
According to the complaint, Mr. Weisberg’s scheme began in 2002, when he worked as an attorney and investor to acquire the assets of a New Jersey corporation with “an intention to move the assets into a public company to raise assets to steal.” In 2002, he became legal counsel and a company shareholder for IEAM, which wasn’t told about Mr. Weisberg’s prior indictments for securities-related fraud before working with Baker & McKenzie, according to the complaint.
In 2004, Mr. Weisberg helped draft IEAM’s stock option plan and began making “false filings, committing sins of both omission and commission in its public filings” with other Baker & McKenzie employees, according to the complaint. He began improperly receiving IEAM shares the next year.
IEAM declared bankruptcy in 2009 after its public shareholders lost $450 million from Baker & McKenzie’s scheme, according to the complaint.
http://www.acorn-online.com/joomla15/lewisboroledger/news/localnews/91639-company-sues-weisberg-over-pump-and-dump-scam.html
Should be a steady day today I am looking for some more volume and also a little raise on the pricing.IEAM had such bad luck I am rooting for this underdog..
IEAM should be a breakout in near future double trading volume I bought in at .16 the ask the price was 19 I only have 4k shares..Not alot of movement as of yet...
Company sues Weisberg over ‘pump and dump scam’
Written by Matt Spillane
Sunday, 24 April 2011 00:00
http://www.acorn-online.com/joomla15/lewisboroledger/news/localnews/91639-company-sues-weisberg-over-pump-and-dump-scam.html
A Pittsburgh chemical company is suing Waccabuc resident Martin Weisberg and his former law firm over allegations that the firm engineered the company’s downfall.
Mr. Weisberg and Baker & McKenzie LLP are being sued for the financial collapse of Industrial Enterprises of America Inc. (IEAM), according to a complaint filed in U.S. Bankruptcy Court in Wilmington, Del., in which the plaintiffs are seeking punitive damages and restitution for full value of improperly issued shares of stock.
IEAM alleges that Baker & McKenzie defrauded the company out of $150 million and is seeking $600 million in damages.
Lawyers for IEAM said in the complaint that the defendants “created a legal structure that enabled an unlawful pump and dump scam, misleading or outright false NASDAQ and SEC filings, and participation in a host of internal corporate malfeasances designed to raid the company of its working capital.”
According to the complaint, Mr. Weisberg and his firm were illegally issued millions of shares of freely traded stock, which benefited company executives and their girlfriends and attorneys. The shares were supposed to be reserved for employees, outside directors and consultants of IEAM.
This is not the first run-in with the law for Mr. Weisberg, who left Baker & McKenzie in 2007. In 1991, he was indicted for conspiring to defraud investors in a currency-trading scheme, according to the complaint. He was indicted in 2007 for securities fraud, money laundering and conspiracy in a short-selling scheme that allegedly netted him unlawful kickbacks. In 2008, he was indicted again for allegedly stealing more than $1 million in interest from a client’s escrow account.
According to the complaint, Mr. Weisberg’s scheme began in 2002, when he worked as an attorney and investor to acquire the assets of a New Jersey corporation with “an intention to move the assets into a public company to raise assets to steal.” In 2002, he became legal counsel and a company shareholder for IEAM, which wasn’t told about Mr. Weisberg’s prior indictments for securities-related fraud before working with Baker & McKenzie, according to the complaint.
In 2004, Mr. Weisberg helped draft IEAM’s stock option plan and began making “false filings, committing sins of both omission and commission in its public filings” with other Baker & McKenzie employees, according to the complaint. He began improperly receiving IEAM shares the next year.
IEAM declared bankruptcy in 2009 after its public shareholders lost $450 million from Baker & McKenzie’s scheme, according to the complaint.
http://www.acorn-online.com/joomla15/lewisboroledger/news/localnews/91639-company-sues-weisberg-over-pump-and-dump-scam.html
Interesting. The stock has done very well lately. Obviously that news release concerns past fraud with old management, so it is not relevant to current shareholders. But you hate to see that kind of thing with any company.
I just saw this on Huffington Post. Hope you folks did not get hurt to bad.
John D. Mazzuto CHARGED: Major Yale Benefactor Part Of $60M NYC Stock Scam
JENNIFER PELTZ | 05/25/10 07:31 PM |
NEW YORK — A former bank director built himself a financial fiefdom out of automotive-chemical companies, then plundered it through a series of stock frauds that let him live lavishly even though he'd declared bankruptcy, prosecutors said Tuesday.
As CEO of Industrial Enterprises of America Inc., John D. Mazzuto illegally gave stock to friends and relatives, pumped up the share price by making the company look more profitable than it was and lied to investors, according to the Manhattan district attorney's office.
The proceeds got him multimillion-dollar houses in the Hamptons and Florida, $500,000 worth of private jet travel and the status of a major benefactor of Yale University's baseball team, prosecutors said.
Mazzuto and James W. Margulies – a Cleveland lawyer who was the company's finance chief and briefly succeeded Mazzuto as CEO – pleaded not guilty to grand larceny, scheming to defraud and other charges. Together, they're accused of stealing more than $60 million from the now-bankrupt company.
"This was the wholesale looting of a public company for greed and self-enrichment," District Attorney Cyrus R. Vance Jr. said.
Mazzuto's attorney didn't immediately return a call. Margulies' lawyer declined to comment outside court.
Mazzuto, 61, was a managing director for the former Chemical Bank before he started acquiring a series of companies in 2002 to create Industrial Enterprises, prosecutors said. Subsidiaries made antifreeze, windshield-wiper fluid and other car chemicals at plants in Pennsylvania and elsewhere.
Mazzuto and Margulies began by issuing millions of shares of a type of stock that can legally be given only to employees – and funneling the shares to relatives, associates and shell companies, according to prosecutors. When the stock was sold, money was channeled back to Mazzuto and Margulies or was used to inflate the company's cash flow and boost its stock price, prosecutors said.
The two doctored records to make the influx of cash look like legitimate earnings and used the company's seeming success to draw in new investors, one of whom ultimately lost $20 million, prosecutors said. They wouldn't identify the investor.
Briefly traded on the NASDAQ exchange, the stock now trades for pennies a share on the over-the-counter bulletin board, an electronic quotation service.
Mazzuto filed for personal bankruptcy in 2002 and didn't emerge for seven years, prosecutors said. Meanwhile, he garnered more than $15 million from the stock scheme, money that bought him a $3 million house he's since sold in Southampton, N.Y., and his $2.5 million home in Palm Beach Gardens, Fla., according to prosecutors.
He also endowed a baseball coaching post and underwrote a practice field for Yale, his alma mater, which praised his "incredible generosity" in a 2009 item on the team's website. Prosecutors said he gave the university $1.5 million in Industrial Enterprises stock. The university didn't immediately return a call.
Margulies, 45, gleaned more than $6 million from the scam and used the money for such luxuries as a $350,000 diamond ring for his wife from posh jeweler Harry Winston, prosecutors said.
Investors eventually began raising questions and filing lawsuits. Mazzuto and Margulies resigned within about a month of one another in 2008.
The company filed for bankruptcy last year, Securities and Exchange Commission and court records show. The new management has cooperated with prosecutors, company lawyer Allen L. Finkelstein said.
If convicted, Margulies and Mazzuto could face up to 25 years in prison.
http://www.huffingtonpost.com/2010/05/26/john-d-mazzuto-charged-ma_n_589925.html?view=print
IEAM looks to be starting a major breakout.
IEAM is looking good at .035. Breakout?
IEAM is looking very juicy, .03 x .04 with some volume today. Hopfully a nice breakout is coming.
BUX
No messages here, even though I nearly doubled my $200 investment yesterday. Got in at 0.015, now its at 0.03
Notice of Pendency and Settlement of Class Action on Behalf of Those Who Purchased or Otherwise Acquired the Common Stock of Industrial Enterprises of America, Inc. Announced by The Rosen Law Firm, P.A.
Apr 30, 2009 8:00:00 AM
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View Additional ProfilesNEW YORK, NY -- (MARKET WIRE) -- 04/30/09 -- The Rosen Law Firm, P.A. Announces the Notice of Pendency and Settlement of Class Action Involving Industrial Enterprises of America, Inc. (PINKSHEETS: IEAM).
UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK
ANNMARIE MALLOZZI, individually and on behalf of all others similarly situated, Plaintiffs,
v.
INDUSTRIAL ENTERPRISES OF AMERICA, INC.; JOHN MAZZUTO; JORGE YEPES; DENNIS O'NEILL; and JAMES MARGULIES, Defendants.
CASE No.: 07-CV-10321 (GBD)
SUMMARY NOTICE OF PENDENCY AND SETTLEMENT OF CLASS ACTION
TO ALL PERSONS WHO PURCHASED OR OTHERWISE ACQUIRED the common stock ("Stock") of Industrial Enterprises of America, Inc. ("IEAM") during the period from December 4, 2006 though and including November 7, 2007 (the "Class Period") and were damaged thereby.
IF YOU PURCHASED OR OTHERWISE ACQUIRED THE ABOVE STOCK DURING THE CLASS PERIOD YOU ARE A MEMBER OF THE "CLASS" IN THIS FEDERAL CLASS ACTION (hereafter, the "Litigation").
YOU ARE HEREBY NOTIFIED, pursuant to Rule 23 of the Federal Rules of Civil Procedure and an Order of the above Court, that a hearing will be held on July 29, 2009 at 10:00 a.m., in Courtroom 15D, United States District Court for the Southern District of New York, 500 Pearl Street, New York, NY 10007-1312 to determine: (1) whether this Litigation should be certified as a class action for the purposes of settlement; (2) whether the proposed settlement (the "Settlement") of the Litigation for $3,800,000 plus accrued interest (the "Settlement Amount") should be approved by the Court as fair, reasonable, and adequate; (3) whether the motion of Lead Plaintiffs' Counsel for an award of attorneys' fees, not to exceed one-third the Settlement Amount, and reimbursement of reasonable expenses, not to exceed $75,000 should be approved; and (4) whether the Litigation should be dismissed with prejudice.
If You Acquired Any Stock of IEAM During the Class Period Described Above, Your Rights May Be Affected by the Settlement of this Litigation. To Share in the Distribution of the Settlement Fund, You Must Establish Your Rights by Mailing a Proof of Claim and Release Form, Postmarked No Later Than July 8, 2009.
If you have not yet received the Notice of Pendency and Settlement of Class Action ("Notice"), which more completely describes the Settlement and your rights thereunder, and a Proof of Claim and Release form, you may obtain copies of these documents by identifying yourself as a member of the Class and by writing to, telephoning, or visiting on the Internet:
Industrial Enterprises of America, Inc. Securities Litigation
Claims Administrator
c/o Strategic Claims Services
P.O. Box 230
600 N. Jackson Street, Suite 3
Media, PA 19063
Tel: (866) 274-4004
www.strategicclaims.net
Inquiries should NOT be directed to IEAM or the Clerk of the Court.
If you desire to be excluded from the Class, you must submit a written request for exclusion, postmarked no later than June 15, 2009, in the manner and form explained in the Notice. All members of the Class who have not requested exclusion from the Class will be bound by the Settlement and any Judgment entered in the Litigation even if they do not timely file a Proof of Claim and Release form.
DATED: April 16, 2009
BY ORDER OF THE UNITED STATES
DISTRICT COURT FOR THE SOUTHERN
DISTRICT OF NEW YORK
Contact:
Phillip Kim, Esq.
Timothy W. Brown, Esq.
Laurence M. Rosen, Esq.
THE ROSEN LAW FIRM, P.A.
350 5th Avenue, Suite 5508
New York, New York 10118
Telephone: (212) 686-1060
Facsimile: (212) 202-3827
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 5)*
Industrial Enterprises of America, Inc.
(Name of Issuer)
Common Stock
(Title of Class of Securities)
456132208
(CUSIP Number)
Eric S. Wagner, Esq.
Kleinberg, Kaplan, Wolff & Cohen, P.C.
551 Fifth Avenue, New York, New York 10176
Tel: (212) 986-6000
(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)
December 1, 2008
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box o.
Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See § 240.13d-7 for other parties to whom copies are to be sent.
*The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
--------------------------------------------------------------------------------
SCHEDULE 13D
CUSIP No. 456132208
1 NAME OF REPORTING PERSONPike Capital Partners, LP 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) x (b) o 3 SEC USE ONLY 4 SOURCE OF FUNDSWC 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) o 6 CITIZENSHIP OR PLACE OF ORGANIZATIONDelaware NUMBER OF SHARES BENEFI-CIALLY OWNED BY EACH REPORT-ING PERSON WITH 7 SOLE VOTING POWER 0 8 SHARED VOTING POWER 518,333 9 SOLE DISPOSITIVE POWER 0 10 SHARED DISPOSITIVE POWER 518,333 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 518,333 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES o 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 2.0% 14 TYPE OF REPORTING PERSON PN
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CUSIP No. 456132208
1 NAME OF REPORTING PERSONPike Capital Partners (QP), LP 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) x (b) o 3 SEC USE ONLY 4 SOURCE OF FUNDSWC 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) o 6 CITIZENSHIP OR PLACE OF ORGANIZATIONDelaware NUMBER OF SHARES BENEFI-CIALLY OWNED BY EACH REPORT-ING PERSON WITH 7 SOLE VOTING POWER 0 8 SHARED VOTING POWER 4,153,333 9 SOLE DISPOSITIVE POWER 0 10 SHARED DISPOSITIVE POWER 4,153,333 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 4,153,333 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES o 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 16.0% 14 TYPE OF REPORTING PERSON PN
--------------------------------------------------------------------------------
CUSIP No. 456132208
1 NAME OF REPORTING PERSONPike Capital Management LLC 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) x (b) o 3 SEC USE ONLY 4 SOURCE OF FUNDSAF 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) o 6 CITIZENSHIP OR PLACE OF ORGANIZATIONDelaware NUMBER OF SHARES BENEFI-CIALLY OWNED BY EACH REPORT-ING PERSON WITH 7 SOLE VOTING POWER 0 8 SHARED VOTING POWER 4,671,666 9 SOLE DISPOSITIVE POWER 0 10 SHARED DISPOSITIVE POWER 4,671,666 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 4,671,666 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES o 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 18.0% 14 TYPE OF REPORTING PERSON IA
--------------------------------------------------------------------------------
CUSIP No. 456132208
1 NAME OF REPORTING PERSONDaniel W. Pike 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) x (b) o 3 SEC USE ONLY 4 SOURCE OF FUNDSAF 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) o 6 CITIZENSHIP OR PLACE OF ORGANIZATIONUnited States NUMBER OF SHARES BENEFI-CIALLY OWNED BY EACH REPORT-ING PERSON WITH 7 SOLE VOTING POWER 0 8 SHARED VOTING POWER 4,671,666 9 SOLE DISPOSITIVE POWER 0 10 SHARED DISPOSITIVE POWER 4,671,666 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 4,671,666 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES o 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 18.0% 14 TYPE OF REPORTING PERSON IN
--------------------------------------------------------------------------------
This statement is filed with respect to the shares of the common stock, having par value $.01 per share, (“Common Stock”) of Industrial Enterprises of America, Inc., a Nevada corporation (“Issuer”), beneficially owned by the Reporting Persons (as defined below) as of December 3, 2008 and amends and supplements the Schedule 13D filed on March 23, 2007, as previously amended
(collectively, the “Schedule 13D”). Except as set forth herein, the Schedule 13D is unmodified.
The names of the persons filing this statement on Schedule 13D (collectively, the “Reporting Persons”) are:
• Pike Capital Partners, LP (the “LP Fund”);
• Pike Capital Partners (QP), LP (the “QP Fund”);
• Pike Capital Management LLC (“Pike Management”); and
• Daniel W. Pike.
Item 3. Source and Amount of Funds or Other Consideration
The source and amount of funds used by the LP Fund in making its purchases of the shares of Common Stock beneficially owned it by the Reporting Persons are set forth below:
SOURCE OF FUNDS AMOUNT OF FUNDS
Working Capital $1,849,463
The source and amount of funds used by the QP Fund in making its purchases of the shares of Common Stock beneficially owned by it are set forth below:
SOURCE OF FUNDS AMOUNT OF FUNDS
Working Capital $16,313,685
Although the above securities were acquired with working capital, the funds may have also used margin account borrowings made in the ordinary course of business, although neither fund can determine whether any funds allocated to purchase the shares of Common Stock were obtained from any margin account borrowings.
Item 5. Interest in Securities of the Issuer
(a-b) Collectively, the Reporting Persons beneficially own 4,671,666 shares of Common Stock representing 18.0% of the outstanding shares of Common Stock.
I. LP Fund
(a) Amount beneficially owned: 518,333
(b) Percent of class: 2.0%
(c) Number of Common Shares as to which the LP Fund has:
--------------------------------------------------------------------------------
(i) Sole power to vote or direct the vote: 0
(ii) Shared power to vote or direct the vote: 518,333 (See Note 1.)
(iii) Sole power to dispose or direct the disposition: 0
(iv) Shared power to dispose or direct the disposition: 518,333 (See Note 1.)
II. QP Fund
(a) Amount beneficially owned: 4,153,333
(b) Percent of class: 16.0%
(c) Number of Common Shares as to which the QP Fund has:
(i) Sole power to vote or direct the vote: 0
(ii) Shared power to vote or direct the vote: 4,153,333 (See Note 1.)
(iii) Sole power to dispose or direct the disposition: 0
(iv) Shared power to dispose or direct the disposition: 4,153,333 (See Note 1.)
As the general partner of the LP Fund and QP Fund, Pike Management may be deemed to beneficially own the shares of Common Stock owned by them. As the controlling person of Pike Management, Daniel W. Pike may be deemed to beneficially own the shares of Common Stock beneficially owned by Pike Management.
Note 1: Each of the LP Fund and QP Fund may be deemed to have shared power to vote or to direct the vote and shared power to dispose or to direct the disposition of the shares of Common Stock reported in this Schedule 13D with Pike Management and Daniel W. Pike
(c). A list of the transactions in the Issuer’s Common Stock that were effected by the Reporting Persons during the past sixty days is attached as Appendix I. No other transactions with respect to the Common Stock that are required to be reported on Schedule 13D were effected by any of the Reporting Persons during the past sixty (60) days. All of the transactions listed on
Appendix I were effected on the open market.
(d). N/A
(e). N/A
Item 7. Material to Be Filed as Exhibits
The following documents are filed as exhibits:
Appendix I: List of the transactions in the Issuer’s Common Stock that were effected by the Reporting Persons during the past sixty days.
Appendix II: Joint Filing Agreement (previously filed)
Appendix III: Power of Attorney
--------------------------------------------------------------------------------
Signature
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
Dated: December 3, 2008
PIKE CAPITAL PARTNERS, LP By: Pike Capital Management LLC, as General Partner By: /s/ Kevin R. Arps Kevin R. Arps, Chief Financial Officer PIKE CAPITAL PARTNERS (QP), LP By: Pike Capital Management LLC, as General Partner By: /s/ Kevin R. Arps Kevin R. Arps, Chief Financial Officer PIKE CAPITAL MANAGEMENT LLC By: /s/ Kevin R. Arps Kevin R. Arps, Chief Financial Officer /s/ Kevin R. Arps Kevin R. Arps, as Attorney-in-Fact For Daniel W. Pike
--------------------------------------------------------------------------------
APPENDIX I
TRANSACTIONS EFFECTED DURING THE PAST SIXTY DAYS
The following transactions were effected by the LP Fund during the past sixty (60) days on the open market:
Date Security Approx. Price perShare (excl. of.Commissions) Amount of Shs.Bought (Sold) 12/01/08 Common $0.01 129,850 12/03/08 Common $0.007 11,800
The following transactions were effected by the QP Fund during the past sixty (60) days on the open market:
Date Security Approx. Price perShare (excl. of.Commissions) Amount of Shs.Bought (Sold) 12/01/08 Common $0.01 970,150 12/03/08 Common $0.007 88,200
--------------------------------------------------------------------------------
APPENDIX III
POWER OF ATTORNEY
The undersigned hereby makes, constitutes and appoints Kevin R. Arps as the undersigned’s true and lawful authorized representative, attorney-in-fact and agent, each with the power individually to execute for and on behalf of the undersigned and to file with and deliver to the United States Securities and Exchange Commission and any other authority or party required or entitled to receive the same:
(a) any Forms 3, 4 and 5, and any amendments thereto, in accordance with Section 16(a) of the Securities Exchange Act of 1934, as amended (the “1934 Act”), and the rules promulgated thereunder; and (b) any Schedule 13D or Schedule 13G, and any amendments thereto, on behalf of the undersigned in accordance with Section 13 of the 1934 Act and the rules promulgated thereunder.
The undersigned also hereby grants to such attorney-in-fact the full power and authority to do and perform all and every act and thing whatsoever requisite, necessary and proper to be done in the exercise of any of the rights and powers herein granted, hereby ratifying and confirming all that such attorney-in-fact shall lawfully do or cause to be done by virtue of this power of attorney and the rights
and powers herein granted. The undersigned acknowledges that the foregoing attorney-in-fact, in serving in such capacity at the request of the undersigned, is not assuming any of the undersigned’s responsibilities to comply with Section 16 or Section 13 or any other provision of the 1934 Act or the rules promulgated thereunder.
This Power of Attorney shall remain in full force and effect until earlier revoked by the undersigned in a signed writing delivered to the foregoing attorney-in-fact.
IN WITNESS WHEREOF, the undersigned has caused this Power of Attorney to be executed as of June 18, 2007.
/s/ Daniel W. Pike
Daniel W. Pike
ACKNOWLEDGEMENT IN NEW YORK STATE
STATE OF NEW YORK, COUNTY OF NEW YORK ss.:
On June 18, 2007, before me, the undersigned personally appeared, Daniel W. Pike, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument and acknowledged to me that he executed the same in his capacity, and that by his signature on the instrument, the individual, or the person upon behalf of
which the individual acted, executed the instrument.
/s/ Matthew M. Dell Orfano
Matthew M. Dell Orfano
(signature and office of individual taking
acknowledgement)
[Notary Stamp and Seal]
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 5)*
Industrial Enterprises of America, Inc.
(Name of Issuer)
Common Stock
(Title of Class of Securities)
456132208
(CUSIP Number)
Eric S. Wagner, Esq.
Kleinberg, Kaplan, Wolff & Cohen, P.C.
551 Fifth Avenue, New York, New York 10176
Tel: (212) 986-6000
(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)
December 1, 2008
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box o.
Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See § 240.13d-7 for other parties to whom copies are to be sent.
*The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
--------------------------------------------------------------------------------
SCHEDULE 13D
CUSIP No. 456132208
1 NAME OF REPORTING PERSONPike Capital Partners, LP 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) x (b) o 3 SEC USE ONLY 4 SOURCE OF FUNDSWC 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) o 6 CITIZENSHIP OR PLACE OF ORGANIZATIONDelaware NUMBER OF SHARES BENEFI-CIALLY OWNED BY EACH REPORT-ING PERSON WITH 7 SOLE VOTING POWER 0 8 SHARED VOTING POWER 518,333 9 SOLE DISPOSITIVE POWER 0 10 SHARED DISPOSITIVE POWER 518,333 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 518,333 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES o 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 2.0% 14 TYPE OF REPORTING PERSON PN
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CUSIP No. 456132208
1 NAME OF REPORTING PERSONPike Capital Partners (QP), LP 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) x (b) o 3 SEC USE ONLY 4 SOURCE OF FUNDSWC 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) o 6 CITIZENSHIP OR PLACE OF ORGANIZATIONDelaware NUMBER OF SHARES BENEFI-CIALLY OWNED BY EACH REPORT-ING PERSON WITH 7 SOLE VOTING POWER 0 8 SHARED VOTING POWER 4,153,333 9 SOLE DISPOSITIVE POWER 0 10 SHARED DISPOSITIVE POWER 4,153,333 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 4,153,333 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES o 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 16.0% 14 TYPE OF REPORTING PERSON PN
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CUSIP No. 456132208
1 NAME OF REPORTING PERSONPike Capital Management LLC 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) x (b) o 3 SEC USE ONLY 4 SOURCE OF FUNDSAF 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) o 6 CITIZENSHIP OR PLACE OF ORGANIZATIONDelaware NUMBER OF SHARES BENEFI-CIALLY OWNED BY EACH REPORT-ING PERSON WITH 7 SOLE VOTING POWER 0 8 SHARED VOTING POWER 4,671,666 9 SOLE DISPOSITIVE POWER 0 10 SHARED DISPOSITIVE POWER 4,671,666 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 4,671,666 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES o 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 18.0% 14 TYPE OF REPORTING PERSON IA
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CUSIP No. 456132208
1 NAME OF REPORTING PERSONDaniel W. Pike 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) x (b) o 3 SEC USE ONLY 4 SOURCE OF FUNDSAF 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) o 6 CITIZENSHIP OR PLACE OF ORGANIZATIONUnited States NUMBER OF SHARES BENEFI-CIALLY OWNED BY EACH REPORT-ING PERSON WITH 7 SOLE VOTING POWER 0 8 SHARED VOTING POWER 4,671,666 9 SOLE DISPOSITIVE POWER 0 10 SHARED DISPOSITIVE POWER 4,671,666 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 4,671,666 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES o 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 18.0% 14 TYPE OF REPORTING PERSON IN
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This statement is filed with respect to the shares of the common stock, having par value $.01 per share, (“Common Stock”) of Industrial Enterprises of America, Inc., a Nevada corporation (“Issuer”), beneficially owned by the Reporting Persons (as defined below) as of December 3, 2008 and amends and supplements the Schedule 13D filed on March 23, 2007, as previously amended
(collectively, the “Schedule 13D”). Except as set forth herein, the Schedule 13D is unmodified.
The names of the persons filing this statement on Schedule 13D (collectively, the “Reporting Persons”) are:
• Pike Capital Partners, LP (the “LP Fund”);
• Pike Capital Partners (QP), LP (the “QP Fund”);
• Pike Capital Management LLC (“Pike Management”); and
• Daniel W. Pike.
Item 3. Source and Amount of Funds or Other Consideration
The source and amount of funds used by the LP Fund in making its purchases of the shares of Common Stock beneficially owned it by the Reporting Persons are set forth below:
SOURCE OF FUNDS AMOUNT OF FUNDS
Working Capital $1,849,463
The source and amount of funds used by the QP Fund in making its purchases of the shares of Common Stock beneficially owned by it are set forth below:
SOURCE OF FUNDS AMOUNT OF FUNDS
Working Capital $16,313,685
Although the above securities were acquired with working capital, the funds may have also used margin account borrowings made in the ordinary course of business, although neither fund can determine whether any funds allocated to purchase the shares of Common Stock were obtained from any margin account borrowings.
Item 5. Interest in Securities of the Issuer
(a-b) Collectively, the Reporting Persons beneficially own 4,671,666 shares of Common Stock representing 18.0% of the outstanding shares of Common Stock.
I. LP Fund
(a) Amount beneficially owned: 518,333
(b) Percent of class: 2.0%
(c) Number of Common Shares as to which the LP Fund has:
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(i) Sole power to vote or direct the vote: 0
(ii) Shared power to vote or direct the vote: 518,333 (See Note 1.)
(iii) Sole power to dispose or direct the disposition: 0
(iv) Shared power to dispose or direct the disposition: 518,333 (See Note 1.)
II. QP Fund
(a) Amount beneficially owned: 4,153,333
(b) Percent of class: 16.0%
(c) Number of Common Shares as to which the QP Fund has:
(i) Sole power to vote or direct the vote: 0
(ii) Shared power to vote or direct the vote: 4,153,333 (See Note 1.)
(iii) Sole power to dispose or direct the disposition: 0
(iv) Shared power to dispose or direct the disposition: 4,153,333 (See Note 1.)
As the general partner of the LP Fund and QP Fund, Pike Management may be deemed to beneficially own the shares of Common Stock owned by them. As the controlling person of Pike Management, Daniel W. Pike may be deemed to beneficially own the shares of Common Stock beneficially owned by Pike Management.
Note 1: Each of the LP Fund and QP Fund may be deemed to have shared power to vote or to direct the vote and shared power to dispose or to direct the disposition of the shares of Common Stock reported in this Schedule 13D with Pike Management and Daniel W. Pike
(c). A list of the transactions in the Issuer’s Common Stock that were effected by the Reporting Persons during the past sixty days is attached as Appendix I. No other transactions with respect to the Common Stock that are required to be reported on Schedule 13D were effected by any of the Reporting Persons during the past sixty (60) days. All of the transactions listed on
Appendix I were effected on the open market.
(d). N/A
(e). N/A
Item 7. Material to Be Filed as Exhibits
The following documents are filed as exhibits:
Appendix I: List of the transactions in the Issuer’s Common Stock that were effected by the Reporting Persons during the past sixty days.
Appendix II: Joint Filing Agreement (previously filed)
Appendix III: Power of Attorney
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Signature
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
Dated: December 3, 2008
PIKE CAPITAL PARTNERS, LP By: Pike Capital Management LLC, as General Partner By: /s/ Kevin R. Arps Kevin R. Arps, Chief Financial Officer PIKE CAPITAL PARTNERS (QP), LP By: Pike Capital Management LLC, as General Partner By: /s/ Kevin R. Arps Kevin R. Arps, Chief Financial Officer PIKE CAPITAL MANAGEMENT LLC By: /s/ Kevin R. Arps Kevin R. Arps, Chief Financial Officer /s/ Kevin R. Arps Kevin R. Arps, as Attorney-in-Fact For Daniel W. Pike
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APPENDIX I
TRANSACTIONS EFFECTED DURING THE PAST SIXTY DAYS
The following transactions were effected by the LP Fund during the past sixty (60) days on the open market:
Date Security Approx. Price perShare (excl. of.Commissions) Amount of Shs.Bought (Sold) 12/01/08 Common $0.01 129,850 12/03/08 Common $0.007 11,800
The following transactions were effected by the QP Fund during the past sixty (60) days on the open market:
Date Security Approx. Price perShare (excl. of.Commissions) Amount of Shs.Bought (Sold) 12/01/08 Common $0.01 970,150 12/03/08 Common $0.007 88,200
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APPENDIX III
POWER OF ATTORNEY
The undersigned hereby makes, constitutes and appoints Kevin R. Arps as the undersigned’s true and lawful authorized representative, attorney-in-fact and agent, each with the power individually to execute for and on behalf of the undersigned and to file with and deliver to the United States Securities and Exchange Commission and any other authority or party required or entitled to receive the same:
(a) any Forms 3, 4 and 5, and any amendments thereto, in accordance with Section 16(a) of the Securities Exchange Act of 1934, as amended (the “1934 Act”), and the rules promulgated thereunder; and (b) any Schedule 13D or Schedule 13G, and any amendments thereto, on behalf of the undersigned in accordance with Section 13 of the 1934 Act and the rules promulgated thereunder.
The undersigned also hereby grants to such attorney-in-fact the full power and authority to do and perform all and every act and thing whatsoever requisite, necessary and proper to be done in the exercise of any of the rights and powers herein granted, hereby ratifying and confirming all that such attorney-in-fact shall lawfully do or cause to be done by virtue of this power of attorney and the rights
and powers herein granted. The undersigned acknowledges that the foregoing attorney-in-fact, in serving in such capacity at the request of the undersigned, is not assuming any of the undersigned’s responsibilities to comply with Section 16 or Section 13 or any other provision of the 1934 Act or the rules promulgated thereunder.
This Power of Attorney shall remain in full force and effect until earlier revoked by the undersigned in a signed writing delivered to the foregoing attorney-in-fact.
IN WITNESS WHEREOF, the undersigned has caused this Power of Attorney to be executed as of June 18, 2007.
/s/ Daniel W. Pike
Daniel W. Pike
ACKNOWLEDGEMENT IN NEW YORK STATE
STATE OF NEW YORK, COUNTY OF NEW YORK ss.:
On June 18, 2007, before me, the undersigned personally appeared, Daniel W. Pike, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument and acknowledged to me that he executed the same in his capacity, and that by his signature on the instrument, the individual, or the person upon behalf of
which the individual acted, executed the instrument.
/s/ Matthew M. Dell Orfano
Matthew M. Dell Orfano
(signature and office of individual taking
acknowledgement)
[Notary Stamp and Seal]
+600% today!!
Will be interesting to see what the week brings here!
EOD .013 @ .02 V = 2,912,295
Only Up 669.23 %
Lawsuit Settlement 22-Nov-08 12:06 pm The class action lawsuit has apparently settled in principle, persuant to a Court filing made public on Nov. 20
http://pacer.psc.uscourts.gov/
http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_I/threadview?m=tm&bn=75302&tid=462&mid=462&tof=1&frt=2
Shucks, I think I'll people mark you too!
WTG Git, you, yourself, and I are the only ones who think a 23 percent gain on a sucky market day is worth a fart. Guess that means more fo us huh?
to be expected after huge drop.
December 14, 2007 - 10:04 PM EST
IEAM 0.79 -0.05
Notice to Investors: The Rosen Law Firm Reminds Investors of Upcoming Deadline in Securities Class Action Lawsuit -- Motion Date is January 15, 2008 -- IEAM
NEW YORK, Dec. 14, 2007 (PRIME NEWSWIRE) -- The Rosen Law Firm reminds current and former shareholders of Industrial Enterprises of America, Inc. ("IEAM" or the "Company") (Nasdaq:IEAM) (formerly (OTCBB:IEAM)) that they have until January 15, 2008, to move for appointment as lead plaintiff.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER.
If you purchased IEAM stock during the period from November 14, 2006 through November 8, 2007, and wish to join the IEAM securities litigation as a plaintiff, or for further information, go to the website at http://www.rosenlegal.com or call Laurence Rosen, Esq. or Phillip Kim, Esq. toll-free at 866-767-3653 or email lrosen@rosenlegal.com or pkim@rosenlegal.com for information on the class action.
You can join the class action online at http://www.rosenlegal.com .
The complaint charges that IEAM and certain of its present and former officers, directors, and control persons violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 by issuing materially false and misleading statements pertaining to IEAM's business prospects and condition, and filing financial statements with the SEC materially false financial statements. On November 7, 2007 the Company announced that investors could no longer rely on its historical financial statements and that the Company had not properly followed generally accepted accounting principles, necessitating a revision of reported revenue, among other things. The Company also announced that it had suspended its CFO pending a review. As a result of these events, the Complaint asserts that the price of IEAM stock dropped, damaging investors.
The Rosen Law Firm has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud. The Rosen Law Firm represents investors throughout the nation, concentrating its practice in securities class actions.
More information on this and other class actions can be found on the Class Action Newsline at www.primenewswire.com/ca
CONTACT: The Rosen Law Firm P.A.
Laurence Rosen, Esq.
lrosen@rosenlegal.com
Phillip Kim, Esq.
pkim@rosenlegal.com
(212) 686-1060
1-866-767-3653
Fax: (212) 202-3827
www.rosenlegal.com
Source: PrimeNewswire (December 14, 2007 - 10:04 PM EST)
News by QuoteMedia
www.quotemedia.com
SHAWs bringin another company public. EXTI - extensions INC.
anyway I've been in and out of IEAM enough to know its not something you put in your 401k.
The last huge drop Mazzuto bought back shares himself as did his CFO then announced a share buyback using debt to buy the shares, even though they had a lot of debt to begin with. Seems like he has a big chunk here, enough that he would not want it to go back to OTCBB
pinto, you are correct Shaw was a former CEO, but he retired in 2005, before the acquisition of Pitt Penn and before IEAM was operating anywhere close to where it is today. I consider Mazzuto the only captain that piloted this ship and subsequently steered it into an iceberg...
How bout Crawford Shaw
i mean't the first CFO used the excuse of "health problems" also, not the first CEO. Unfortunately for investors, Mazzuto has been the first and only CEO (until now).
LOL likely from all the stress
Mazzutto retires due to poor "health." That first CEO had "health" problems too. Unbelievable.
Industrial Enterprises Announces John Mazzuto to Retire as Chief Executive Officer
Wednesday November 21, 9:10 am ET
NEW YORK, Nov. 21, 2007 (PRIME NEWSWIRE) -- Industrial Enterprises of America, Inc. (NasdaqCM:IEAM - News) announced today that John D. Mazzuto, Chief Executive Officer and interim Chief Financial Officer has decided to retire from his position as an officer of the company. He will remain in his current position through December 31, 2007 and will continue to serve as a member of the Board of Directors.
The Company's Board of Directors is evaluating its options for potential new CEO candidates.
Bob Casper, Chairman of the Board, stated, ``John had informed the Board previously that due to personal health reasons, he would not be staying in the CEO position. The Board at that time asked him to allow sufficient time for the new operating team initiatives to take hold. He has been transferring all day to day issues to the new operating team during this period. With the filing of the financials expected by year end, he will have accomplished the transition. The three years he spent building IEAM will be remembered fondly by all of us who worked with him.''
About Industrial Enterprises of America
Industrial Enterprises of America, Inc., headquartered in New York, NY, is an automotive aftermarket packager and supplier that specializes in the sale of anti-freeze, auto fluids, charcoal fluids, and other additives and chemicals. The Company has distinct proprietary brands that collectively serve the retail, professional and discount automotive aftermarket channels. For more information please visit http://www.ieam-inc.com
IEAM has $25 million left in its buyback program! Thats more than enough to buy back all the shares at today's close!
The Company plans to continue to buy back shares at a slow but consistent pace. The Company still has approximately $25 million left remaining in its buyback program.
According to CEO John Mazzuto, "We take our responsibility to provide complete and accurate financial information seriously and are taking proactive steps that we believe are appropriate under these circumstances. Given the current price of the Company's common stock, the Company will add additional debt over and above the $10 million recently added, to increase the pace of the share buyback as well as to expand operations."
linus pop said "Accounting problems (possible fraud), lack of progress on business plan, lack of profitability, SEC questions, share count ballooning, possible delisting (or halting), plenty more. I don't trust the CEO. Good luck"
sounds like every other penny stock I've made a killing on its called buy the bounce. I don't trust anyone. Have a good weekend
Got me 5000 at .98 looking good so far...
Accounting problems (possible fraud), lack of progress on business plan, lack of profitability, SEC questions, share count ballooning, possible delisting (or halting), plenty more. I don't trust the CEO. Good luck
in with 5000 shares at .98
$1.00's!!!!!!!!!! WOOOOOO HOOOOOOOOOO!
IEAM gotta be shorted to death, just like HSOA.
we have company buying back shares (more aggressively according to PR), CEO likely looking to buy, bottom players buying, shorters buying back, and naked shorters ------------->giddy up!!!!!!!!!
.98's on the ask!!!!!!!!!!!!
HOD .97 chart turning from FEO to bonita!!!!!
IEAM nice volume buying up ther .90's here!!!!!!!!!
IEAM lets get a few more white candles before turkey day
chooo chooo. charts are looking better every day!
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