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The atricle itself was well written but I wonder if Forbes did any background research on KDMV or did they include statements from a PR firm (with quotes from Gene Jackson)within the context of a much greater article.
Just so no one here sees me as just another basher, I no longer own any stock, having sold at a substantial loss. I continue to check in here from time to time because I believed in the original spirit of the company and their marketing plan. It saddens me to think that such a vision should be extinquished by inuendos and unanswered charges.
I continue to watch the stock and, if I think that the ship has been righted, I would not hesitate to climb back aboard.
Voyager
Yes, this is a good article...
Christian Capitalism
Megachurches, Megabusinesses
Luisa Kroll, 09.17.03, 12:00 PM ET
Maybe churches aren't so different from corporations. World Changers Ministries, for instance, operates a music studio, publishing house, computer graphic design suite and owns its own record label. The Potter's House also has a record label as well as a daily talk show, a prison satellite network that broadcasts in 260 prisons and a twice-a-week Webcast. New Birth Missionary Baptist Church has a chief operating officer and a special effects 3-D Web site that offers videos-on-demand. It publishes a magazine and holds Cashflow 101 Game Nights. And Lakewood Church, which recently leased the Compaq Center, former home of the NBA's Houston Rockets, has a four-record deal and spends $12 million annually on television airtime.
Welcome to the megabusiness of megachurches, where pastors often act as chief executives and use business tactics to grow their congregations. This entrepreneurial approach has contributed to the explosive growth of megachurches--defined as non-Catholic churches with at least 2,000 members--in the U.S. Indeed, Lakewood, New Birth, The Potter's House and World Changers, four of the biggest, have all experienced membership gains of late. Of course, growth for them has a higher purpose: to spread their faith to as many people as they can. "In our society growth equals success," says Scott Thumma, faculty associate at the Hartford Institute for Religion Research. "And religious growth not only equals success but also God's blessing on the ministry."
In 1970, there were just ten such churches, according to John Vaughn, founder of Church Growth Today, which tracks megachurches. In 1990, 250 fit that description. Today, there are 740. The most common trait that these churches share is their size; average number of worshippers is 3,646, up 4% from last year, according to Vaughn. But they also demonstrate business savvy, with many holding conferences (47%) and using radio (44%) and television (38%), according to a 1999 survey conducted by the Hartford Institute for Religion Research. The average net income of megachurches was estimated at $4.8 million by that same survey.
Churches are exempt from income taxes. But in some cases they do pay an unrelated business income tax on activities not substantially related to the church's religious, educational or charitable purposes. (Churches do pay payroll, sales and, often, property taxes.)
Church Attendance* City, State Pastor
Lakewood Church 25,060 Houston, Tex. Joel Osteen
World Changers 23,093 College Park, Ga. Rev. Creflo Dollar
Calvary Chapel of Costa Mesa 20,000 Santa Ana, Calif. Pastor Chuck Smith
The Potter's House 18,500 Dallas, Tex. Bishop T.D. Jakes
Second Baptist Church 18,000 Houston, Tex. Dr. H. Edwin Young
Southeast Christian Church 17,863 Louisville, Ky. Bob Russell
First Assembly of God 17,532 Phoenix, Ariz. Dr. Tommy J. Barnett
Willow Creek Community Church 17,115 S. Barrington, Ill. Bill Hybels
Calvary Chapel of Ft. Lauderdale 17,000 Fort Lauderdale, Fla. Pastor Bob Coy
Saddleback Valley Community Church 15,030 Lake Forest, Calif. Dr. Rick Warren
*Catholic churches are not tracked for this study. This is all 2003 attendance data and represents total weekend attendance for each congregation. Source: Dr. John N. Vaughan, Church Growth Today
Technology also plays a large role in helping these giant churches communicate with members and keep track of them. Many provide a transcript of the weekly sermons and an events calendar on the Web site as well as sell products, such as books and CDs. They also allow members to post prayers and donate online. Almost all (99%) have Web sites. "Cell phones, e-mail, complex phone systems and the Internet all enhance the way megachurches work," says Thumma, faculty associate at the Hartford Institute.
Helping churches grow is a business in itself. There is even a publicly traded company, Kingdom Ventures (otc: KDMV - news - people ), whose sole mission is to help faith-based organizations get bigger. Founded in 1999, the tiny company operates 12 subsidiaries and claims to work with 10,000 churches on everything from fundraising to event planning (it provides speakers and artists for events) to upgrading technology by helping sell new audio and visual equipment and sound systems. "One of the reasons megachurches are as big as they are is because they use the technology of today," says Kingdom Chief Executive Gene Jackson, "We can help smaller churches become big with technology."
If that doesn't help, they may steer folks to a new book they are about to publish: PastorPreneur, which is hitting Christian book stores this month. The book teaches pastors to think like entrepreneurs; for instance, encouraging them to set up strategic partnerships with nonchurch groups and to use event marketing to draw in new members.
For a lesson in marketing, religious leaders would do well to study the success of Bill Hybels and his Great Barrington, Ill.-based Willow Creek Community Church. In 1975, he and members of his student ministry went door to door asking residents what kept them away from church. Hybels then crafted his services to address their concerns, becoming one of the first pastors to use video, drama and contemporary music in church and encouraging a more casual dress code. "Hybels really showed that churches can use marketing principles and still be authentic," says Michael Emerson, a Rice University sociology professor who has studied megachurches. Willow Creek, which has a staff of 500 full and part-time employees, is renowned for its conferences and seminars that teach other churches how to market themselves as well as for its "buzz" events, featuring well-known personalities such as country singer Randy Travis, NASCAR Champion owner and former Washington Redskins coach Joe Gibbs and Lisa Beamer, widow of Sept. 11, 2001, hero Todd Beamer--all intended to attract nonchurch goers.
Media has helped spread the message, particularly for Lakewood Church, the largest megachurch in the U.S. In 1981, Joel Osteen, son of then-pastor Joe Osteen, quit college to set up his father's television ministry. The services eventually aired in 140 countries. He also advertised Lakewood on local television and on billboards throughout Houston where the church is located. After his father passed away in 1999, Osteen became pastor and expanded the church's media strategy.
Like most churches, Lakewood's broadcasts had been relegated to the very early Sunday morning shows. Lakewood instead decided to target the top 25 markets in the nation and negotiate for timeslots on the four top networks between 8 A.M. and 10 A.M., rather than working with just one network. It also agreed to increase its budget for airtime to $12 million from $6 million. Its program now can be seen in 92% of the nation's households.
Never satisfied, the church analyzes its media strategy each quarter.
As for the services themselves, Lakewood makes sure to put on a grand show. It has a 12-piece stage band, a lighting designer to set the mood and three large projection screens. The technology will be even more spectacular when it moves into its new home in the former Houston Rockets' stadium "We really want it to feel like a concert," says Duncan Dodds, Lakewood's executive director. Something is working: Church attendance has grown from 6,000 in 1999 when Osteen became pastor to 25,060 today.
Pastor Rick Warren, who founded Saddleback Church in Lake Forest, Calif., in 1980, has deftly used technology as well as marketing to spread his message. His Pastors.com, which reaches 100,000 pastors worldwide each week, has e-mail forums, archives of all of his sermons from the past 22 years and a place to post prayer requests. He also sends a free weekly newsletter, Rick Warren's Ministry Toolbox, to pastors. When it came time to launch his book, The Purpose Driven Life, last year, Warren used Pastors.com to invite churches to participate in a "40 Days of Purpose" event (to correspond with the book's 40 chapters). The 40-day-long event attracted 1,562 churches and was kicked off with a simulcast broadcast to all those churches. Some 267 radio stations ran a "40 days campaign" during the same time period. And a CD of "Songs for a Purpose Driven Life" featuring well-known Christian artists was also released. From the start, the books and CDs were distributed in mass-market retailers such as Wal-Mart (nyse: WMT - news - people ), Costco Wholesale (nasdaq: COST - news - people ), Barnes & Noble (nyse: BKS - news - people ) and Borders Group (nyse: BGP - news - people ). It quickly became a New York Times bestseller and has already sold 5.8 million copies, outselling Billy Graham and making it one of the most successful book promotions in Christian publishing history.
No doubt, churches have learned some valuable lessons from corporations. Now maybe they can teach businesses a thing or two. Companies would certainly appreciate having the armies of nonpaid, loyal volunteers. "The business world would love to have that kind of fellowship," says Vaughn.
07up
KDMV featured in Forbes. FYI, Kingdom Ventures was featured in a Forbes story. Please follow this link to read:
http://www.forbes.com/2003/09/17/cz_lk_0917megachurch.html?partner=yahoo&referrer=
American Association of Christian Counselors Joins Kingdom Ventures Family of Companies
Adds $10 million in projected revenue Provides reach into Christian consumer market
MINDEN, Nevada, Sep 9, 2003 /PRNewswire-FirstCall via COMTEX/ -- Kingdom Ventures, Inc. (OTC Bulletin Board: KDMV) today announced that the American Association of Christian Counselors, the nation's largest association of Christian counselors with approximately 70,000 members and students nationwide, has become part of the Kingdom Ventures family of companies.
The diversified faith-based products and media company said the merger agreement with American Association of Christian Counselors (AACC) closed on September 5, 2003 with an effective date of February 1, 2003. Kingdom Ventures expects the acquisition to be accretive to earnings and add approximately $10 million in annual revenue. Kingdom Ventures posted annual revenue of $3.2 million for its fiscal year ended January 31, 2003. Terms of the stock based transaction were not disclosed. Kingdom Ventures serves the $49 billion church market and the broader Christian consumer market through a variety of media properties, services and consumer products.
"This represents an important added dimension for Kingdom Ventures as we continue to expand our family of products and services," said Gene Jackson, president and CEO of Kingdom Ventures. "Christian counseling is an expanding segment of America's $100 billion mental-health industry and provides critical felt-need-based services to people of all walks of life. We look forward to serving caregivers and to expanding the assistance and resources that the AACC provides. This addition will allow us to extend the influence of the Ask Dr. Tim syndicated column, the Live the Life radio program, and provide a foundation for continued development of content meeting the needs of the Christian leader and caregiver. We believe the AACC is uniquely positioned to help churches and their leaders in the area of Biblical counseling, Spiritual formation, and Leadership Development".
Kingdom Ventures said Dr. Timothy Clinton will continue in his role as President and CEO of AACC. Clinton will be joined on the AACC management team by Donald Sapaugh, who will serve as CEO of Kingdom Communications Group. Sapaugh, former CEO of Rapha, Inc., a national Christian counseling and treatment management company, brings substantial faith based business experience to the AACC, and Kingdom Ventures.
"Through this strategic relationship, AACC has the opportunity to expand its membership and mission and Kingdom Ventures can continue to grow as an instrument in God's hands," said Clinton. "I see this as a true 'Kingdom' win in the best sense of the word."
Founded in the late 1980s, AACC (www.aacc.net ) assists professional, pastoral and lay caregivers in providing effective Christ-centered counseling. The Christian Care Network (CCN), a division of AACC, is a national network of professional, community and church-based counseling providers, offering care and resources that are distinctively Christian and clinically excellent.
Clinton added: "Over the last 10 years, AACC has become the largest Christian counseling association in the nation. Becoming part of the Kingdom Venture family allows us to continue to build our network of committed Christian counselors and lay people. We look forward to becoming a important part of the Kingdom Ventures family and continuing to help caregivers provide the most effective counseling to their clients."
About Kingdom Ventures
Kingdom Ventures, Inc. (www.kdmvcorp.com ) is a diversified supplier of media and products to the Christian marketplace. Consisting of two operating units -- Kingdom Media Group and Kingdom Products Group -- the Company serves the Christian marketplace through uplifting faith and humanitarian practice and by assisting Christians in personal, church and ministry growth to demonstrate the Good News of God's Word as proclaimed in the Bible.
The Kingdom Media Group includes the nation's largest regional Christian newspaper chain Christian Times, Christian Speakers & Artists Agency (the largest Christian Speakers bureau), Ministry Values for Growing Churches (the largest church direct marketing company, www.ministryvalues.com ) and Faith Group Services (which includes www.iExalt.com ). The Kingdom Products Group consists of Xtreme Notebooks (notebook computers and Tablet PCs, www.xnbs.com ), Kingdom Gifts (inspirational gifts and candles), Yahwear Clothing (Christian apparel, www.yahwear.com ), and Mr. Roy Productions (silk screen and production facility).
Safe Harbor Statement
All statements other than statements of historical fact included in this press release are "forward-looking statements." The forward-looking statements, including statements about the company's future expectations, including future revenues and earnings, and all other forward-looking statements (i.e., future operational results and sales) are subject to assumptions and beliefs based on current information known to the company and factors that are subject to uncertainties, risk and other influences, which are outside the company's control, and may yield results differing materially from those anticipated.
SOURCE Kingdom Ventures, Inc.
CONTACT: Jeff Lambert or Tim Hanson of Lambert, Edwards & Associates,
Inc., +1-616-233-0500, jlambert@lambert-edwards.com , for Kingdom Ventures,
Inc.
URL: http://www.kdmvcorp.com
http://www.prnewswire.com
Copyright (C) 2003 PR Newswire. All rights reserved.
OT: Here comes Walmart, read below...
Christian Capitalism
David Vs. Goliath
Carrie Coolidge, 09.15.03, 12:00 PM ET
Wal-Mart Stores has seen the light. The world's biggest retailer has discovered Christian-themed merchandise is one of the fastest-growing categories around. With offerings ranging from best-selling books and videos including The Purpose-Driven Life and Veggie Tales, Wal-Mart's annual sales from Christian-themed merchandise, which is estimated to already exceed $1 billion annually, is growing at a rapid pace.
On a company-wide basis, Wal-Mart (nyse: WMT - news - people ) now offers 550 different Christian music titles and more than 1,200 Christian book titles. While Sears (nyse: S - news - people ) and Target (nyse: TGT - news - people ) sell Christian music, neither have pursued the Christian product category as aggressively as Wal-Mart, says C. Britt Beemer, chairman and founder of America's Research Group, a consumer behavior research and strategic marketing firm.
"Right now, this category is not even a drop in the bucket for Wal-Mart," says Beemer, referring to the retailer's revenue of $239.82 billion in 2002. "It will just keep getting bigger and bigger for them, which is why Wal-Mart is looking at this as a huge opportunity for the future."
It is not surprising the retailer is pursuing the Christian market. The folksy company's founder Sam Walton extolled the belief that each Wal-Mart store should reflect the values of its customers and support the vision they hold for their community. And the company takes its customers' demands very seriously. It recently made headlines when it put plastic blinders on several top-selling women's titles (because of customer complaints of indecency) and banned entirely from its shelves magazines such as Stuff, FHM and Maxim, which use racy covers to attract young male readers.
Wal-Mart's foray into Christian-themed merchandise has not gone unnoticed by the 8,000 small Christian retailers scattered around the U.S. "These small retail businesses could easily double their business and still be at half of their potential if it were not for the fact that they are now facing Wal-Mart as a competitor," says Beemer.
Currently at $4.2 billion in annual sales--including Wal-Mart--how much bigger could the Christian retail business become now that Wal-Mart has taken notice? "Wal-Mart could easily grow the entire industry by 30%," says Beemer. "But it could also squeeze some Christian retailers out of business."
Wal-Mart's success is a double-edged sword for small Christian retailers. "The challenge that Christian retailers are facing is that this is both a ministry and a business," says Larry Leech, managing editor of Christian Retailing, a 48-year-old trade magazine based in Lake Mary, Fla., that covers the industry. "But when business hurts, then you don't have the finances to stay open to continue your ministry. So yes, there is some frustration."
One thing small retailers have in their favor is the fact that the big retailers, including Wal-Mart and Costco Wholesale (nasdaq: COST - news - people ), sell mostly new releases and do not have a very strong backlist of older titles. "Therefore they lack the depth and breadth of the small retailers," says Leech.
However, should an older title suddenly surge in popularity, you can be sure that Wal-Mart will soon be adding it to its shelves. "We are going to offer our customers what they are looking for," says Wal-Mart spokeswoman Karen Burk. "Every product we sell is based on customer demand. So if there is a demand for a particular title, we will make sure we have that product available."
"Wal-Mart strives to be a store of the community--where products reflect what the customers in that community want," adds Burk. "So the [Christian] category will continue grow relative to customer demand."
07up
Alpha Analytics!
Kirtas, you will notice at the Yahoo Message Board for KDMV that this news release is NO longer listed. KDMV probably got a legal letter stating to cease and disist mentioning the report or a lawsuit would follow. Lawsuits are expensive, especially if the company is in another state. That's my take on it.
I emailed Alpha Analytics twice asking about this news release and they denied that it was them. I am curious as to why they would allow this to happen knowing that a company is using their name in a new release. Is there more to the story?. Certainly there must be insiders posting on the site. Why has this issue never been clarified?
Holding Stock? No way!
You're right. I should have posted a new message. Sorry Kirtas! I watch this site because I am waiting for the day that this company's stock trading is halted by the SEC. Hopefully, the class action lawsuits and SEC actions will begin. I don't like wolves ripping hard earned cash from the flock. I do think that there are a few neophytes out there still holding onto this stock for their dear lives, hoping for daylight. They need to get rid of it like a bad habit! Only then, will all of KDMV's treasury stock fueled deals begin to fall like a house of cards. Then more lawsuits!
sorry for the confusion Brownstone but one can only assume that you were referring to me considering you responded to my post. If you were making a general statement you should have posted under "Post New Message" instead of "Public REPLY"
The reason I periodically check this forum is because of a very very small possibility that I will be able to make money on the common B shares.
Is there a reason that you are posting? Certainly you aren't a FOOL by holding shares in this company? Makes one wonder. hmmmmmmm!!!!
By the way. I emailed KDMV and Alpha Analytics in April (still have the email. Do you really think I am still waiting for a reply?????
Wake Up - Meant for all!
Kirtas, my message was meant for all current shareholders. I wasn't singling you out, but nowhere in your message do you say that you are not a current shareholder. I am curious though, especially since you made out very well, why you even bother to stay attached to this board or wonder why IR hasn't returned your calls. HMMMmmmm!
Once a complaint is filed, and the SEC is in the investigative stage, you cannot track or trace the complaint.
Hello!!!!! I think you need to reread my post. Nowhere in that post does it say that I still hold KDMV. I sold all my stock at over 100% profit. Scam or not I did very well thank you very much
Wake Up!
The fact that J& J Holdings sold over $500k of stock in two transactions in late March (500k shrs at $0.49/shr)and late April (300k shrs at $0.90/shr) WITHOUT filing the obligatory SEC Form 4's should be a clue. Do the math to see what these transactions were worth. KDMV filed the forms on Aug. 5th. The SEC req's that these forms be FILED WITHIN 48 HOURS of the transactions. In other words - HELLO? Can you hear me NOW!!!!
Fools and their money are quickly separated!!
I emailed Alpha Analytics the day the newsrelease came out and was told that Alpha Analytics had no knowledge of the report. I then emailed/phoned (I can't remember now) asking KDMV to clarify this and was told that the new IR firm would answer this question. I still haven't heard anything from the company or the IR firm. Hmmmmmmmmmmmmm!
Certianly some of the insiders who post on this forum can enlighten us.
To all,
Today I sent an e-mail to Jeff Lambert requesting that he address the Alpha Analytic affair directly with this board.
Let's see when or if he will do so. If I receive a private response, I will let you know.
Regards to all,
Voyager
T is T
How can I verify when the claim was filed with the SEC? Is there a tracking number or other device to follow up? I will inquire with Mr. Lambert re the Alpha Analytics situation and I will report back my findings.
Thanks,
Voyager
Now, do you really expect the PR firm for KDMV to tell the truth when their clients don't?
After reading your post I wrote Our-Street.com and asked if what Jeff Lambert said about Our-Street.com never filing the complaint was true, or just more lies, and here is their reply:
"Thank you for the inquiry. It is much easier to claim the complaint wasn't sent than it is to contradict the actual complaint with facts.
We do, in fact submit each and every complaint to the SEC prior to publishing it on our web site. To claim to have sent a complaint without actually sending it, would in itself be a violation of Section 10b of the Securities Act.
Besides, since the SEC welcomes and appreciates all complaints, including ours, how stupid would we have to be to say we are sending them, then not actually send them and face the wrath of the SEC ourselves?
We choose not to reply to these various wild statements simply because if we entertain all the personal attacks, we would have no time left for investigation. People also claim we still short stocks, which we do not. Attacking the messenger is the default tactic of the pump and dump artists and we simply post the truth and document it, provide a very substantive disclaimer on our web site and continue looking for more crooks. KDMV was a fraud when we posted it, it is a fraud today and, in our opinion, will continue to be a fraud as long as John and Gene Jackson are running it.
I would suggest you email them and ask them about that Alpha Analytics claim. We have never heard from anyone who has received a straight answer about that. If you do, please send us the response.
Thank you for the interest
Nick Tracy Enterprises, Ltd"
I echo their suggestion. Why not e-mail KDMV and also Jeff Lambert and ask them about the Alpha Analytics claim, and ask them why they lied about the recommendation during the height of their pump and dump activities. While you are at it, ask them about John Jackson's sale of over $500,000 worth of stock at 49 cents and 90 cents during the height of the promotional lies they were telling, and why he did it in secret, and why he didn't disclose it as the law requires.
And then ask them why the stock is now only about 30 cents.
Truth is Truth
Slowly creaping downward!
This company needs to get back on the PR wagon. With the string of PR's in the past, there should, at the least be, an update on the slew of buisness they lead us to believe they were in the process of.
Honor
Anyone with any company contact hear if there on vacation or what? The PR company must be repetable, as there as been no fluff since thier inception.
Still holding!
Honor
Hi You All,
I spoke with Jeff Lambert this AM. He seems to be an honest, and informed Investor Relations professional.
It turns out that there never was an SEC complaint ever filed. It seems that OurStreet.com never does. They only attempt to incite others to question and to file.
I told Jeff about I-Hub and invited him to visit which he may do. Meanwhile, if you have questions, give him a call. He is most informative.
Later,
Voyager
YES!!!!!
Who did the $2.5 million payment go to? It killed all their profits!!!!
It killed my investment!
They invited me to call them. Does anyone have any questions they'd like answered?
I sent an email myself.
Mr.Ed
Thanks for the post. I've sent an e-mail to this Investor Relations company regarding the OurStreet complaint to the SEC since no one from the company feels like talking about it.
Why don't you do same? It will be interesting to hear the spin!
Later,
Voyager
Press Release Source: Lambert, Edwards & Associates, Inc.
http://biz.yahoo.com/prnews/030728/larstr5_1.html
Kingdom Ventures Retains Investor Relations and Public Relations Firm
Monday July 28, 5:35 am ET
Taps Small-Cap And Christian Products Market Specialists Lambert, Edwards & Associates
MINDEN, Nev., July 28 /PRNewswire/ -- Kingdom Ventures, Inc. (OTC Bulletin Board: KDMV - News) today announced it has hired Grand Rapids, Mich.- based Lambert, Edwards & Associates, Inc. (LE&A) to direct the Company's investor relations and public relations activities.
ADVERTISEMENT
The Minden, Nev.-based diversified Christian conglomerate said it hired LE&A to help communicate its unique position serving the Christian marketplace, which includes the $49 billion church market and the $5.6 billon Christian products industry. Kingdom Ventures serves the Christian market through a variety of media properties, services and consumer products.
The Company's products and services are distributed through numerous channels, including independent distributors, Christian bookstores, gift stores and media properties. In addition, Kingdom Ventures provides fundraising services for small- to medium- sized churches.
"The Christian products market is a growing niche that has doubled in size over the last seven years. But even this represents only a fraction of the overall Christian consumer population, which is our core target market," said Gene Jackson, president and CEO of Kingdom Ventures. "We are accelerating our growth through a strategy of mergers, acquisitions and new ventures and look forward to building our story to attract new partners and investors.
"Lambert, Edwards & Associates has a proven track record of taking stories such as ours to the Christian market, as well as helping small- and mid-cap companies increase awareness among investors, the media and consumers, and we look forward to working with them."
Lambert, Edwards & Associates, Inc. is one of the country's fastest- growing public and investor relations firms. The firm works extensively with small- and mid-sized companies in a number of niches including the consumer products, specialty retail, automotive, consumer electronics, leisure, manufacturing and technology industries.
"Kingdom Ventures is a well diversified company that is positioned to serve the growing Christian niche," said Jeff Lambert, LE&A Managing Principal. "We look forward to helping Kingdom Ventures communicate its story to customers and the Christian community, while building shareholder value through increased liquidity and ownership of the Company's stock."
Kingdom Ventures, Inc. (www.kdmvcorp.com ) is a diversified supplier of products and services to the Christian marketplace. Consisting of three operating units -- Kingdom Communications Group, Kingdom Marketing Group and Kingdom Commerce Group -- the Company serves the Christian marketplace through uplifting faith and humanitarian practice and by assisting Christians in personal, church, and ministry growth to demonstrate the Good News of God's Word as proclaimed in the Bible. In addition, Kingdom Ventures provides fundraising services for small- to medium- sized churches.
The Kingdom Communications Group includes the nation's largest regional Christian newspaper chain Christian Times, Christian Speakers & Artists Agency and Life Perspectives Radio (www.iExaltRadio.com ). The Kingdom Marketing Group provides e-commerce, e-community and Internet services, including popular Christian web portal iExalt.com (www.iexalt.com ), iExaltMall (www.iexaltmall.com ) and Faith Group Services. The Kingdom Commerce Group consists of Xtreme Notebooks (personal computers), Kingdom Gifts (inspirational gifts), Sierra Candles and Yahwear Clothing, and Mr. Roy Productions (Christian apparel).
All statements other than statements of historical fact included in this press release are "forward-looking statements." The forward-looking statements, including statements about the company's future expectations, including future revenues and earnings, and all other forward-looking statements (i.e., future operational results and sales) are subject to assumptions and beliefs based on current information known to the company and factors that are subject to uncertainties, risk and other influences, which are outside the company's control, and may yield results differing materially from those anticipated.
--------------------------------------------------------------------------------
Source: Lambert, Edwards & Associates, Inc.
Engineer,
There is usually some initial seller's remorse because most of us second guess ourselves. After several weeks, I've come to realize that the only mistake I made in this was the original purchase.
I am not a religious man but much of what I heard about this business was that they had a well developed business plan and a market to develop. Mr Jackson (Gene) was very persuasive and believable and the steady stream of PR's supported everything that he said.
At this point in time he has only been accused of questionable dealings, not convicted. Although I realize acknowledging these accusations might tend to legitimize them, ignoring them seems to be even worse.
I personally try not to dwell on past mistakes but I also try not to forget them. Maybe next time, I'll be a bid more cautious and exercise a bit more diligence when selecting an investment. Probably not, I am a risk taker and a gambler which is why I could never live in Las Vegas. Bad enough that the city of Phoenix is encircled with Indian gaming casinos.
Remmber, this too shall pass,
Voyager
Anyone care to make any predictions on what we will see over the next few months? This board has clammed up much like KDMV.
The biggest reason I recently sold is because I didn't get any responses to my most recent emails. Not questions regarding the recent accusations, but general questions about the business. Not a thing. Even an automated response would be better than nothing. They definitely need to make improvement in investor relations.
I reread all the press releases. I am still confident that with the right management, they actually have a business plan that can work. However, I am also unsatisfied with how this whole fiasco was handled. Datameg filed a lawsuit against our-street. Another company that was accused issued a press release defending themselves. KDMV did nothing publicly.
I am very interested in seeing how everything plays out now.
To the others guys who sold. Did you feel like you made a mistake selling at first and does it go away (I know its all psychological...I guess I just need to remember this quote):
"Don't look at what you HAD or could have HAD, always look at what you've got!"
Hi Guys,
I'm not holding shares anymore but I continue to watch and listen. The company seems to have adopted a duck and hide position with few (compared to before) PR's. The fact that the sp has held up this well is a testament (pardon the pun) to the loyalty of the shareholders in Kingdom's stated mission. You must all have faith (another pun, darn it) that the published allegations were motivated by others' greed and not based in truth. The Reverend Jackson has not acknowledged in any public forum that I have seen the validity of these charges nor has he acted to dispell them.
How long does it take for an SEC complaint to be completed?
If anyone knows, please share.
Regards to all,
Voyager
I sold all but a few shares this morning.
I'll watch from the sidelines and see what happens.
The PR Machine sure has slowed...halted? I guess the gravy train would be expected to do the same.
Anyone speak to Management lately?
Honor
Press Release Source: Kingdom Ventures Inc.
http://biz.yahoo.com/pz/030708/42351.html
Kingdom Ventures Projects Revenue Increase of over 150% in Q2 of 2003 -- Corporate Activity Structure also Announced
Tuesday July 8, 6:10 am ET
MINDEN, Nevada, July 8, 2003 (PRIMEZONE) -- Kingdom Ventures, Inc. (OTC BB:KDMV.OB - News), a rapidly growing church development company, reported today expected growth in revenues in its 2nd Quarter year 2003 ending July 31, 2003. Revenues projected to increase to $2,100,000 in Q2-2003 from $828,248 in Q2 of 2002 according to Gene Jackson, CEO/President.
Jackson also announced the following corporate activity structure to fulfill the Company mission:
Kingdom Communications Group (a Kingdom Ventures, Inc. subsidiary) is where our media properties are located. These properties include Christian Times and Christian Speakers & Artists Agency. Both of these activities are complemented by our partnership with Life Perspectives Radio (http://www.iExaltRadio.com).
Kingdom Marketing Group is where our marketing activities occur; these include http://www.iexalt.com, http://www.iexaltmall.com, Faith Group Services (which reaches both the mainline and evangelical Christian population) with e-commerce, e-community, and internet and telecommunications services.
Kingdom Commerce Group is where our product activities take place. This Group is comprised of Xtreme Notebooks (http://www.xnbs.com) which is a Kingdom Ventures, Inc, subsidiary, Xtreme Desktops, Kingdom Gifts (includes our inspirational gift line and fundraising activities for non-profit organizations), Yahwear Clothing, and Mr. Roy Productions, Inc.
ADVERTISEMENT
The mission statement of Kingdom ventures is: ``Kingdom Ventures exists to provide media and product resources to Christian people to assist in personal, church, and ministry growth and to demonstrate the Good News of God's Word as proclaimed in the Bible, both through uplifting faith and humanitarian practice. By coming alongside individual believers and working with them to have their buying power benefit organizations that are in sync with God's directives and assisting churches, ministries and organizations in effectively marketing themselves and funding their projects, Kingdom Ventures will benefit medical missions, homeless shelters, relief agencies, and many other organizations, and by doing so demonstrate to the world the love of God for mankind.''
There are approximately 400,000 Protestant churches in the U.S. alone. 94% of them have fewer than 1,000 active members, and therefore limited financial resources to effectively manage the business side of their operations. Christian organizations' total budgets are measured in billions of dollars. 89% of American households give to charities an average of $1,600+ a year, and religious organizations receive 60% of it. In addition, religious and inspirational products are selling at a pace of $5.6 billion annually (source: Christian Retailing Magazine).
Kingdom Ventures has impacted the Christian community through relationships with independent distributors, Christian bookstores, gift stores, and has established strong business relationships with hundreds of Christian organizations and performed over 750 fundraising events -- helping churches and other Christian organizations grow.
For more information on Kingdom Ventures, visit http://www.kdmvcorp.com.
All statements other than statements of historical fact included in this press release are ``forward-looking statements.'' The forward-looking statements, including statements about the company's future expectations, including future revenues and earnings, and all other forward-looking statements (i.e., future operational results and sales) are subject to assumptions and beliefs based on current information known to the company and factors that are subject to uncertainties, risk and other influences, which are outside the company's control, and may yield results differing materially from those anticipated.
Contact:
FOCUS Partners, LLC (for Kingdom Ventures)
David Zazoff
(212) 752-9445
kdmv@focuspartners.com
ir@kdmvcorp.com
Kingdom Ventures, Inc.
(800) 839-2506 Toll Free
(775) 267-2242 Local
(775) 267-2661 Fax
Gene@kdmvcorp.com
--------------------------------------------------------------------------------
Source: Kingdom Ventures Inc.
From what I remember.
I'm pretty sure the drop coincided with the report. I'm also pretty sure that the loss and the charge (BTW I asked KDMV about this 2 weeks ago in an email and they haven't answered me) was reported almost a week after the drop.
Kingdom Ventures didn't drop because of the Our Street from what I can see. They dropped because they had a loss for the last quarter, which was due to a payment to an unknown party of 2.5 million dollars. They created their own problem. I still don't know where that money went, and haven't seen it explained by anyone. Looking at Kingdom Ventures website, what buisnesses do they really have? I think I could have started those businesses with a few thousand dollars.
I was tempted to get in on this again and possibly ride it up, but it scares me, and I'm afraid the whole thing could be worthless at any time.
The other problem is that this stock is so lightly traded, you can't get in and out easily. You may have to sell off a big holding in little bits. It's the worst investment I ever made.
I'm not saying they are entirely off base, however I could probably pick apart any company and make it look like they are corrupt. KDMV was an easy target.
Besides the ourstreet outfit is not a professional group at all. I new this right away by looking at the quality of their website, but it was more evident in the unproffesional response I recieved when I emailed them. Most likely a group of kids looking to make a quick buck. They do the pump and dump, only they do it the short way.
I think any group that manipulates a stock like that should at the very least be looked at.
Engineer- What makes you so sure that Ourstreet.com is wrong? It sure looks to me like they had some irrefutable facts in hand. Also, the lack of response from the company says it all to me.
I made my complaint against our street!
What they do needs to be investigated. This could definitely fall under a stock manipulation scheme. Naked shorting is illegal.
I expect KDMV will face many more challenges from people bent on destroying anything that has to do with Christianity.
Lets all do our part to put all Stock Fraud Brokers; CEO's and/or anyone else for that matter, that thinks they can get away with Stock fraud in Jail'
http://sanfrancisco.fbi.gov/
LOOK-New FBI Web site & Phone numbers to report any and all Stock Fraud. Lets all do our part to put these bums in JAIL.!!!!!
The Federal Bureau of Investigation, the United States Attorney's Office for the Northern District of California, and the Securities Exchange Commission ("SEC"), announced today that the FBI has created a new website and hotline that will allow concerned citizens to report possible securities fraud to the FBI.
The website is located at sanfrancisco.fbi.gov and the hotline phone numbers are 415-551-7100 or 800-207-7676. Securities fraud may be any deceptive practice or activity conducted in connection with securities, such as stocks, bonds, commodities or other investments. Examples of conduct that may constitute securities fraud include: a) providing false information in a company financial statement; 2) providing false information in filings with the Securities and Exchange Commission; 3) lying to company auditors or the SEC; 4) insider trading, that is, using confidential inside information to trade stock; 5) stock manipulation schemes; and 6) embezzlement of investor money by brokers. Any citizen with information of evidence concerning such fraud should call the FBI or visit its website to report the fraud.
The FBI, the United States Attorney's Office and the SEC , have made securities and other financial fraud a priority. Although not all apparent misconduct in the securities industry or financial markets can be prosecuted criminally, the FBI and the United States Attorney's Office are committed to ensuring that fraud in the financial markets will be investigated and prosecuted where there is sufficient evidence of criminal misconduct. The potential penalties for a violation of the federal laws prohibiting fraud in connection with the purchase or sale of securities is a maximum of 10 years imprisonment, a fine of $1,000,000, restitution, and a term of supervised release.
In addition, the White Collar Crime Penalty Enhancement Act of 2002 increased the penalties for wire and mail fraud from 5 to 10 years imprisonment and created several new offenses related to fraud in the financial markets. For instance, the Act requires senior corporate officers to certify in writing that financial statements and the disclosures therein fairly present in all material aspects the operations and financial condition of public companies, and imposes a 10 year term of imprisonment for anyone who willfully violates such requirement.
A copy of this press release may be found on the U.S. Attorney's Office's website at www.usdoj.gov/usao/can. In addition, there is a link to the FBI website on the United States Attorney's website, under Criminal Division, Securities Fraud.
All press inquiries to the FBI should be directed to Special Agent Andrew P. Black at (415) 553-7450. All press inquiries to the US Attorney's Office should be directed to Assistant US Attorney Matthew J. Jacobs at (415) 436-7181.
Voyager. Looks like anni had a little trouble with that new alias. When I'm called a basher thats a warning signal something isn't right. LOL!
http://www.investorshub.com/boards/profile.asp?user=22663
Hi Anni,
Nice to have you aboard on what is becoming a wild ride.
Please don't think that this is a bash center. On the contrary, you'll find some very thoughtful investors among this board's populace. There have been some significant accusations made against the principals of KDMV by a supposed watchdog outfit called OurStreet.com. If you look back on previous posts, you will find that they were published here just recently. OurStreet went so far as to initiate a complaint with the SEC. To date, there has been no offical response, that I've seen, from either the SEC or the good folks at Kingdom Ventures.
If the accusations are untrue, then OurStreet has defamed a growning organization. If the accusations are true, KDMV has been perpetrating a "scam" in the name of God. Either way, we, the investors, are going to suffer. It's part of the wild west of investing, the OTC!
Later,
Voyager
Excel,
Thanks for the input. I've never owned a stock undergoing an SEC complaint so I have no feel for response time. Knowing that a government agency is part of the process makes me think that quick a response is not the norm.
Perhaps the company is preparing an in depth retort as you have speculated. If they expect to continue to operate, it better be detailed, accurate and deal with each individual point.
Later,
Voyager
Welcome to the board anni. How did you hear about KDMV?
There were some unfavorable accusations against the company a few weeks ago. These accusations really hurt investor confidence and the stock price droppped quite a bit.
Most everyone on this board wants the company to succeed. Especially those of us who have a large stake in this companies future.
Voyager546. I think the market is beginning to recognize that every day that goes by with no reaction by the SEC, that this report isn't all it says it is.
Shareholders of course wish management would have come out and fought back the same day.
Yet, it might be that company lawyers thought it would be better to put together something more indepth to counter this report. That takes time unfortuanetly.
My guess is we see something shortly from them.
Reason I say that is after the reaction the PR accusition received the other day shows it needs to be done imo.
Nice analogy! I can't believe that there is a pulse left in this venture after the OurStreet accusations. Could be a large portion of the "believers" are not convinced? If you remember, flocks of folks continued to follow Jim Baker right up until he went to jail.
Hit the waves this weekend, surfer.
Voyager
Mr Ed. No, I haven't spoken with anyone there since this happened.
My thoughts are they have a serious perception problem that imo needs to be straightened out before they can expect the price to go back up.
Not sure what they have been advised to do regarding that.
I do find it amazing that a few posts on here, which one of them just happened today, came from people who are heavily involved in another stock that has no revenues what so ever.
That has SERIOUS perception problems of it's own also!
They feel the need to vent here after this mess was already placed on this board.
Not sure why that need is so strong for them.
I will add it looks like the acuzations by this group doesn't have the teeth to it they thought or imo trading would have been halted long ago.
That being said, unlike that other stock I was mentioning above, KV is suppose to have a Christian integrity relationship with everything they do.
People have those expectations of it.
When they aren't met, the type of reaction to that PR we got the other day that the aqusition is projected to increase bottomline by 3 to 4 mill is what happens.
Before this mess that PR would have been worth .10 to .25.
As you can see by that example it is going to be very hard to overcome the perception problem.
I just read it.
34Simmons
Simmons: I read that when it was posted about 20-25 messages back. Have you taken a short position or do you have nothing better to do now?
Kingdom Ventures, Inc.
OTC- BULLETIN BOARD SYMBOL KDMV
Corporate Headquarters:
1045 Stephanie Way
Minden, Nevada 89423
(800) 839-2506
The Ones Responsible
Officers and Directors and Significant Players
Gene Jackson
Howard Dix
Don Scheib
John Jackson
Possible Silent Partner
SEC FILINGS
Some Basic Facts - as of the January 31, 2003 10K
Shares outstanding (common) - 17,294,185**
** Series B Common Shares which are similar to the initial Common shares and constitute part of the fully diluted equity equal an additional 22,430,762 shares effective February 7, 2003.
Fully Diluted common shares - 39,724,947
Series Preferred shares currently outstanding are convertible into ? shares of common stock
Total Assets - $953,457*
*The company claims to have prepaid an additional $5 million worth of services but we believe these numbers to be inflated and have not included them on this page. See Paragraph 21 of our complaint.
Total Liabilities - $1,210,346 (includes preferred stock)
Revenues for 12 months ending 1/31/03- $3,194,813
Total Net Loss for 12 months ended 1/31/03 - $793,480
Accumulated Deficit $1,673,076
Stock price when published $.65
Market capitalization (fully diluted*) $23,834,968
Date Filed: June 17, 2003
Filed with: SEC, Nevada Attorney General's Office
Known actions to date - None
NOTE: 30 June, 2003 click here for update
NOTE: 27 June, 2003 - We have just published a copy of The Christian Times Kingdom Ventures flyer. Personally, it makes our blood boil just to read it. Now you can read it and judge for yourself. THE CHRISTIAN TIMES KDMV FLYER
NOTE: 20 June, 2003 - We were contacted by our press release distributors asking for permission to release contact information to Kingdom Ventures. We said that was fine with us. We then sent the following letter to Gene Jackson. We would like to suggest everyone write him at Gene@kingdomventuresinc.com and ask him to explain the more relevant points of the complaint. The easiest of course would be for him to produce the Alpha Analytics report and recommendation with the target prices of $5.15 and $9.15. Why is it when you don't like the message, you attack the messenger?
A final thought, we would like to remind Gene and everyone else, that Christianity itself got its start because a group of people didn't like the message so they killed the messenger. How ironic!
We also want to encourage you to contact the SEC at enforcement@sec.gov and ask them to look into this complaint without delay.
Here is the letter to Gene Jackson.
Gene,
If you wanted our contact information all you had to do was
ask. We gave the press release people the authority to
provide it to you by the way. Without our permission they
would not have. But why are you being so sneaky?
My question to you is this, why attack the messenger when
the message is what matters? We inquired of you before the
report and you never responded. We have offered you space
on our site to refute each and every claim and have offered
to apologize were we are wrong so why attack us? Let's deal
with the truth shall we? Where is the Alpha Analytics
report? What about the other matters? The offer still
stands so we await your comments.
By the way, is your brother John on vacation or is he
simply not responding? I am concerned he might be deeper in
this deal than originally thought and am considering adding
his name to the complaint. He hasn't even bothered to ask
me for the documents I have supporting my complaint. Since
he essentially controls the company and I see no visible
signs of his addressing this most important matter, I am
starting to assume at this point he could be a
co-conspirator.
I also hear you have questioned who benefits by our report.
How about the market, your shareholders and the entire
Christian Community? Everyone benefits from the truth, even
when it is unpleasant.
Sincerely,
Nick Tracy Enterprises, Ltd.
FOOTNOTE: Pastor John Jackson is in town so his non-response to our email is, in fact, his response. Make of it what you will. We think, given his position within the community and his complete voting control over Kingdom Ventures, that he would have at least replied to our complaint to say he wanted to look into it before commenting or taking any further steps to address the situation.
NOTE: 21 June, 2003 : We are further incensed at another of Gene Jackson's material misrepresentations. In the sub-heading of his June 18th press release he declared that
"Kingdom Ventures Becomes Exclusive Distributor for PastorPreneur; Receives Support from George W. Bush and John C. Maxwell."
The release goes on to quote Mr. Maxwell in his endorsement of the book and also quotes President Bush from a speech he made on December 12, 2002. None of Bush's remarks were directed specifically to either John Jackson, his book or Kingdom ventures as the sub-heading and text of the release suggests. http://edreform.com/update/2003/7january.html
The only way to stop this kind of behavior is to take a moment of your time and write the SEC and tell them that you want them to take action against this kind of behavior. CLICK HERE TO WRITE TODAY The more email they get the better the chances they will take action!
NOTE: 23 June, 2003 - We want to announce that we are saddened and very disappointed at the reply we have received from from Lamar Keener, President of Keener Communications Group, publisher of The Christian Times newspaper. After several emails we finally received this in response to our request for a response to the complaint we filed.
"Kingdom Ventures has purchased an exclusive license agreement with our company, whereby we will provide publishing services and the use of our trade name for the purpose of publishing regional newspapers throughout the U.S. Any newspapers established by Kingdom Ventures are independently owned by Kingdom Ventures, subject to the terms of the license agreement."
Lamar Keener
President
The Christian Times claims that "The purpose of the newspaper is to report newsworthy religious events and activities within the local community, nationwide and around the world, to increase the awareness and activism of believers regarding the moral issues of today" yet they have given us no indication whatsoever that they are concerned about the allegations we have published on our site. They have given no indication whatsoever that they are concerned in the least that they are doing business with this company or that they have the slightest interest in covering this story in their newspaper.
Perhaps they don't consider what Kingdom Ventures has been accused of as newsworthy. Perhaps they don't believe that ripping off Christians by pretending to be one of the flock is a relevant moral issue of today. Perhaps they don't think that a Christian minister allowing and, perhaps, even encouraging his flock to invest in a scam such as Kingdom Ventures isn't anything to concern themselves with. Perhaps getting in bed with people like this in order to hopefully increase their bottom line is the only thing that really matters to Lamar and his company. This lack of interest is made even more disappointing when you consider that Lamar took money and allowed an 8 page pump piece featuring Kingdom Ventures stock to be distributed to his readers with only a simple disclaimer to avoid potential liability issues. Whatever the case, in addition to writing the SEC about this, perhaps you would like to share your concerns with Lamar as well. If you do, you can email him at lamar@christiantimes.com.
THE SEC COMPLAINT
SUMMARY
(this is just a summary to view complaint click on the words)
THE EIGHTH OF GOD'S 10 COMMANDMENTS
"Thou Shalt Not Steal"
THE NINTH OF GOD'S 10 COMMANDMENTS
"Thou Shalt not Bare False Witness"
#1 and #5 of the Seven Deadly Sins
#1 Pride
(the excessive belief in one's own abilities, that interferes with the individual's recognition of the grace of God)
#5 Greed
I Timothy 6:9-10
9 But they that will be rich fall into temptation and a snare, and into many foolish and hurtful lusts, which drown men in destruction and perdition.
10 For the love of money is the root of all evil: which while some coveted after, they have erred from the faith, and pierced themselves through with many sorrows
WE ARE ANGRY ABOUT THIS ONE! VERY VERY ANGRY!
Usually, the work we do on Our-Street.com is far more business than personal. Granted, we don't like companies we feature or the people that run them but we try to keep our personal feelings out of it as much as possible. However, there are some things that really get to us and make us absolutely furious. Kingdom Ventures, Inc is one of those things. To begin with, there are two classes of people we consider to dwell at the very bottom of the human social chain. Those are pedophiles and people who use the name of God to rip off other people. When we discovered Kingdom Ventures and saw what they were doing, it no longer was just a matter of good business to expose them, it became personal as well. We have a feeling you will be pretty upset when you read our report and complaint as well.
Once again we want to thank our supporters who took the time to provide us with information about Kingdom Ventures. Without them, we wouldn't be able to do the superior work that we do.
You can start being upset by the fact that Gene Jackson and his tiny staff work in the lap of luxury thanks to the generosity of the shareholders of Kingdom Ventures. The company is renting an incredibly nice luxury style 3,200 sq foot executive home in Minden, Nevada for its executive offices which as of the last 10K had a grand total of 4 employees. That works out to about 800 sq feet per employee, (the size of a modest 2 bedroom house). Considering the size and compared to what they could rent commercial space for in the area, they are, in our opinion, playing it fast and loose with the shareholder's money. We had 4 employees and occupied offices of 125 sq meters (just under 1,400 sq feet) and we had room to grow considerably. To make matters worse, they are renting the home from Gene's brother John for $3,500 per month. They claim that even though this is a related party transaction, the rent is at market levels but one of our supporters took the time to research the area and found several nice homes of comparable size or larger in the general area for considerably less, and they were unable to find any homes at all in the vicinity that rented for anything approaching $3,500. Furthermore, quality commercial office space in the Minden area leases for approximately $.80 per square foot. For 3,200 square feet of office space the lease would be about $2,560 per month. Now, granted it wouldn't have a beautiful master bedroom and bath or executive style kitchen. Someone should ask Gene why the shareholders should be required pay his brother so much rent when plain old offices would do just fine. And besides what does Kingdom Ventures need with all that land the house sits on? It has to be an acre or more. Nothing about this arrangement smells very fair to us.
We want to remind Gene that the President of a public company works for the shareholders, (all of them) and should make decisions accordingly. Perhaps he and the board should check out the meaning of the word "fiduciary" (relating to or based upon trust). The directors of a public company have a responsibility to assume a fiduciary roll on behalf of all of the shareholders and not just the largest and controlling shareholders. In our opinion Mr. Dix and Mr. Scheib have fallen horribly short of their responsibility and need to get serious about their job.
Still, sucking excess amounts of cash out of the company isn't a crime and claiming that the rent they are paying is at a fair price, even if it isn't, doesn't rise to the level of a violation of SEC rules, in our opinion, unless a certified appraiser came in and did a full market appraisal to prove a material misrepresentation. Accordingly we didn't even include it in the complaint simply because we can't prove it conclusively. Still, we think it is important enough to let you know what Gene and his brother are really up to. This isn't really much worse than Gene declaring in the 10k that he (Kingdom) intends to pay himself (Gene) over $250,000 in back wages over and above the $100,000 he is paying himself for 2003. This is supposed to be for the time when he claims not to have paid himself for the previous three years. Note: This back pay was awarded to him in January 2003 as more of a cash bonus in our opinion due to the simple fact that his employment agreement didn't call for such a salary. In fact he did receive modest compensation in both 2001 and 2000.
Putting the matter of the "Jackson Estate" and the extra $250,000 in cash scheduled to be paid to Gene this year aside, there are plenty of documented misdeeds to fill our complaint without this little real estate deal between Gene and his brother. Gene and Kingdom Ventures have really done a great job of issuing one misleading press release after another. Of course the one that really got our goat was his press release on April 25 when he declared with the arrogant righteousness of a Jim Bakker "We believe that no matter how hard you try, you just can not regulate integrity. However, as a Christian church development company, we know that we answer to a higher authority. We are totally committed to increasing shareholder value, and in doing so, we want to be fully transparent not just to God but to the financial community and our shareholders." We would like to remind Gene, in case he forgot, he doesn't get to choose his level of transparency with God. God sees both his actions and what dwells in his heart. Here on this more mortal plain, we have to look to a man's actions to determine what is in his heart. The good news for all is that Our-Street.com has experience in creating transparency where none exists. You see Gene, it isn't enough to simply say you want to be transparent, you have to actually BE transparent in the public market. (editors note: maybe you can't regulate integrity but you sure can expose the lack of it and punish those who violate the rules)
When it comes to actions, one only has to look at the stream of press releases to learn what is in Gene's heart. He publishes press releases using "ticker spam" like a master, announcing that Wal-Mart, Costco, Barnes and Noble and others have been approved for one of his marketing concepts. He makes it read as if these companies actually participated in the process. Do you think they really did? If you thought yes, you'd better think again.
Then he announces all these so called "strategic alliances" with this company and that organization. Do you think these really are strategic alliances in the true sense where two companies get together and decide how they can best benefit each other? Or do you think these "alliances" might be more along the lines of a simple agreement to pay a referral fee if Kingdom Ventures sends them some business? If you thought the former, you'd better think again.
Here is the classic example of exactly what we are talking about. On April 16, 2003 Gene Jackson published a press release announcing that Kingdom Ventures "has launched its Church Financing Services division. These services are produced by Security Church Finance, Inc. (SCF), a NASD registered broker/dealer....... We have seamlessly integrated Security Church Finance's capabilities into our church development programs, providing yet another valuable service for our client churches. Church financing could also become a significant new profit center for Kingdom Ventures,'' says Jackson."
Now compare his version with Security Church Finance's statement to us "Several months ago, we had a discussion with someone from Kingdom Ventures about a "strategic alliance" as they called it. They explained that they work with churches to provide "turn-key" solutions for various needs, and that they wanted a source for financing churches' capital improvements. As we have been doing church finance for 40 years and have an impeccable reputation, they wanted to partner with us. We explained that we would be happy to look at any church financing deals they wanted to bring to us, and if they met our requirements we would be willing to offer our services to the churches. We explained that they could not represent us and that the church would deal directly with us and sign our standard agreement. We would pay them our standard finder's fee for any deals that were referred from them. To date, we have not heard anything else from them and have not done any financing for churches that came through their efforts." (highlights are ours)
Everything we have seen about Security Church Finance says they are just want they said, a well established and reputable company who simply offered to accept referrals from another potential source. Security Church Finance simply agreed in writing to pay a finder's fee for any referrals that completed a funding. We are appalled at the way Gene Jackson took this simple agreement and turned it into a "seamless integration into Kingdom's financing Division."
Then comes the coup de grace. Jackson announced that KDMV is going to provide 400,000 churches with free websites and they further announced that they have prepaid for 5,000 of these web sites with $5 million worth of stock. The only catch is that the web sites aren't really free. Of course, free small websites are common today. Many web hosts and internet services offer free websites to people or businesses. In this case, the host company and Kingdom signed an agreement claiming that the host company usually charges $299 to set up one of these web sites and $29.95 per month to maintain it. We don't believe this for a moment and Our-Street.com has obtained proof from a supporter that YourNetPlus.com does not normally charge to set up affiliate sites and if they charge a monthly fee for an affiliate site, it is more like $10 per month. Of course, we have submitted this proof to the SEC along with our complaint. Finally to add insult to injury, Kingdom paid for this supposed $5 million worth of services, not with cash and not with KDMV common stock or even with preferred stock in Kingdom Ventures as many think. They paid for it with simple preferred shares in the shell company, Kingdom Connect, Inc. This is a shell corporation they had created only 4 days prior. This is a shell with 10,000,000 shares of common stock all owned by Kingdom Ventures. Preferred stock in a wholly owned shell subsidiary that isn't convertible into common and has no known preferential liquidation rights is usually called by its more common name "worthless paper". IN OUR OPINION, THIS IS FRAUD.. NOT A SIMPLE OVERSTATEMENT OR CLEVER USE OF WORDS. IT IS FRAUD!!! THIS NEEDS TO STOP!
Now, you think that is bad enough! Well that isn't all. Unlike the other companies that offer free websites through Yournetplus.com, the churches that Gene Jackson convinces to sign up to his program will have to allow Kingdom Ventures to use their websites as an advertising billboard for Kingdom Venture products. That's right! It isn't that the churches are allowed to choose to use their websites to promote Kingdom Ventures' products, they have to allow them to advertise on their sites at NO CHARGE! This is one of the most outrageous things we have ever seen. Advertising on someone else's web site costs money so, in effect, the churches really aren't even getting their websites for free. A "free web site" does not simply mean that there are no monthly fees attached to this web site but there may be external requirements or costs associated with it. By forcing the churches to reserve space for advertising on their web sites these sites aren't free at all. They are simply paying for their sites in a different way. And speaking of paying, Gene, as much as we really dislike this kind of trickery, I have a feeling God doesn't like this kind of deception either. Heaven is free to those that get there, and there is a horrible price to pay for those that don't. To us, you are looking more like the proverbial camel every minute Gene.
Church Agreement
With $5 million contract in hand, Gene then put the promotional pedal to the metal faster than you can say "Bob's Your Uncle" using faxes and email blasts suggesting that the next thing to happen would most likely be a listing on the American Exchange. Of course, many of these emails and faxes fell a long way short of the disclosure requirements of the SEC. Oh well, so much for transparency, right Gene? Oh wait.. that's right, the ones that failed to give any disclosure, claim they were paid by that proverbial "third party". Of course they were, a kind person, with no affiliation or connection to Gene or Kingdom Ventures just up and sent those folks a check. (wink wink, nudge nudge). Well, we know someone who knows exactly what happened here too, don't we Gene. Can't hide anything from Him. FAX1 FAX2 EMAIL
One final item we want to discuss here and this could be the show stopper. On April 11, 2003, Gene and Kingdom Ventures proclaimed to the world that "Alpha Analytics, an independent research firm has initiated coverage on Kingdom Ventures and has issued a target price of $5.15 for this year and $9.15 for next year along with an "Attractive" and a "Buy" rating". Gene went on to claim that this is their highest rating no less. Well, Our-Street.com contacted Alpha Analytics and their reply was quite simple and to the point, “Our company did not make any such recommendations.” www.alphaanalytics.com We have emailed Kingdom Ventures and their IR firm asking for more information about about Alpha Analytics. To date, contrary to their declarations about their commitment to transparency, neither has seen fit to reply. THIS IS FRAUD, PURE AND SIMPLE!!!!! NOT JUST AN OVERSTATEMENT!! LYING ABOUT A RECOMMENDATION AND PRICE TARGETS IS OUTRIGHT FRAUD!!! THIS NEEDS TO STOP!!
It is wrong to deceive people in order to pump your stock. It is far worse to use peoples' love of God and their basic desire to trust anyone who affiliates themselves with Him to accomplish that deception. In our opinion Gene Jackson has not created a strategic alliance with God to help churches grow and prosper. We believe he has more probably "teamed up" (a favorite Jackson phrase) with the Prince of Darkness himself as he has gone about violating the trust of his shareholders and others who have put their faith in him and used the Christian community as his own personal stock promotional affinity group. Write the SEC today and ask them to look into this Alpha Analytics claim. This needs looking into today. EMAIL THE SEC NOW
Now we have seen a lot over the years but even we were shocked yet pleased (shocked at what was done, pleased that someone stood up to it) to log onto the Christian Times and discover two letters to the editor from two separate Christian Ministers who objected to an 8 page pump piece that was published along with the Christian Times. From the content of the two letters, they even misused the Bible as a marketing tool. To that I cannot help but wonder, is there no depth to which people will not sink in order to pump a stock? Read the letters to the editor here.
As for Gene's brother John, he runs the Carson Valley Christian Center right next door to the Kingdom Ventures/Jackson Estate. He also is one of the largest shareholders in the company between the stock held by J&J Holdings, a company he owns with Gene's wife, and his Christian Center which owns close to a million shares itself. Further, with the 200 for 1 voting power of the million plus Preferred shares he controls, John has total voting control over the company. As to his possible involvement in the wrongs that are being reported here, we honestly don't know if he is in on it or is simply a trusting soul who has been sucked in with all the rest of the market possibly a fair portion of his congregation. Fortunately, based upon his response to the facts contained within this report and the complaint, we are about to find out. Since he controls the company with absolute voting power, he can do anything he wants. We think this will be a truly defining moment for John and we will do our best to keep visitors to Our-Street.com and the local media appraised of the situation as it develops.
NOTE: 30 June, 2003: Well, time has passed and John has had an opportunity to show his congregation and the world where he stands in this matter. According to feedback we have received, John has basically followed the same course as Gene, calling our credibility and motives into question instead of responding to the allegations contained in our complaint. He has not responded to our emails and he has not asked us for any of the documents we have which support our complaint.
Further, John apparently sees no need, as the controlling shareholder, to insist that Gene keep his stated promise "to be fully transparent not just to God but to the financial community and our shareholders." since neither he nor Gene have seen fit to respond to the complaint or to provide anyone with information about as simple a matter even as the mysterious Alpha Analytics recommendation. The conclusions are pretty obvious even to those struggling to stay in denial. We believe that John, a man who has assumed the roll of spiritual leader for his congregation, has embraced the lie and is as responsible and accountable as his brother for this fraud! Hence, we have added John's name to the complaint and notified the SEC of this as well. The thing that upsets us most about this is that along with that conclusion is our assumption that many members of John's congregation put their trust in him as much as they did in his brother and the company when they invested in KDMV and now they are losing money and he hasn't done a single thing about it that we can see. Worse than that, some of them may also end up losing their faith as well as a result of this and that is so much more important than money. It is a very difficult thing when you are betrayed by your pastor, it really challenges ones faith for sure. Our heart is very heavy at the thought of this and we pray their faith can endure.
We expect it will be a few years before Gene has to confront the "Higher Authority" he brags about answering to. Which reminds us, Gene! Do you think this makes you special or something? On one hand you claim that 92% of American's embrace Christianity (by the way, this simply isn't true Gene) and if you know anything about Christians, you know that an essential part of our fundamental beliefs is that we all get to answer to God. So, if 92% or even 74% of the American people believe we are all going to answer to a Higher Authority, how does your carrying on about being aware of this basic Christian principal make you even remotely unique? Answer; it doesn't but it sure makes the hair stand up on the back of my neck when I see someone using such arrogant self righteousness to disguise the slight of hand you attempted to pull off here. Regardless, you can deal with God when the time comes, for now it is time you answered to the shareholders in this company and to the more pressing if not secular authority, the SEC.
As always, we will gladly provide a space for any documented and verifiable comments by the company and will promptly and sincerely apologize for any errors in our facts. Our commitment is to bring forth the truth and the facts in the matter and we encourage Kingdom Ventures to produce whatever documents they can to clear up our concerns and the concerns of what we assume are many Kingdom Venture shareholders. (We can't help you with God, you get to answer to him for your actions all by yourself, Gene!)
Our-street.com copyright 2003
excel,have you spoken to anyone at KDMV lately?What are your thoughts now?
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