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LeaseSmart Inc (fka LSMJ)

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Created
05/26/06
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Moderators

SEC Revokes Registration Of LeaseSmart

07/14/2009

An Administrative Law Judge had issued an Order Making Findings and Revoking Registrations by Default of LeaseSmart, Inc., Administrative Proceeding No. 3-13511. The Order Instituting Proceedings (OIP) alleged that the firm repeatedly failed to file required annual and quarterly reports while its securities were registered with the Securities and Exchange Commission (SEC). The Default Order found the allegations to be true and revokes the registrations of each class of registered securities of the firm, pursuant to Section 12(j) of the Securities Exchange Act of 1934.

 

 

LEASSMART APPEARS TO BE A HIJACKED SHELL (FORMERLY XXys Technology) THAT HAD VERY FEW O/S AND HAD THE MARKET FLOODED WITH POSSIBLY BILLIONS OF FAKE SHARES BY THE T/A. TRADING WAS HALTED BY THE CANADIAN AUTHORITIES ON THIS AND SEVERAL OTHER SECURITIES. ANY OUTCOME WILL BE DEPENDENT ON THE CANADIAN'S RULINGS IT APPEARS

Corporation
LEASESMART, INC. (LSMJ)
Number: C2755794 Date Filed: 7/6/2005 Status: active
Jurisdiction: California
Address
10151 UNIVERSITY BLVD STE 120
ORLANDO, FL 32817
Agent for Service of Process
HIQ CORPORATE S ERVICES, INC.
455 CAPITOL MALL, SUITE 217
SACRAMENTO, CA 95814
Transfer Agent:
Select American Transfer Co., Toronto, ON M2N 7G2



LSMJ Antandsons 4/09/2007 8:04 PM EST Corporate Hijacking Hits LeaseSmart?
http://www.antandsons.com/2007/04/corpor...smart.html
Thomas J. Catino
4/09/2007 8:04 PM EST
E-mail author | E-mail article | RSS | Link

"Common stock, no par value
Shares authorized -- 20,000,000;
Issued and outstanding -- 14,074,019

DECEMBER 2007 UPDATE
The next OSC hearing on these guys:

June 24, 2008

2:30 p.m. David Watson, Nathan Rogers, Amy Giles, John Sparrow, Leasesmart, Inc., Advanced Growing Systems, Inc., Pharm Control Ltd., Bighub.com, Inc., Universal Seismic Associates Inc., Pocketop Corporation, Asia Telecom Ltd., International Energy Ltd., Cambridge Resources Corporation, Nutrione Corporation and Select American Transfer Co.

s. 127 and 127.1

P. Foy in attendance for Staff

Panel: JEAT/ST

http://www.osc.gov.on.ca/Enforcement/SchedProceedings/sch_proceedings.jsp


Disclaimer: The Moderators of this Board have no special knowledge or information. We express our opinions only, as does everyone who posts on this forum, whether Moderators or not, and no one should rely on anything that is said herein by any Moderator or other person. Specifically with regards to LSMJ being halted from trading, we do not know and make absolutely no representations one way or another. Its a pure gamble. Some are willing to make the gamble while others aren't. Its purely your decision and should not be influenced in any manner by anyone, Moderators or otherwise. The Moderators do not make any recommendations regarding anyone's investment decisions regarding LSMJ or any other stock. The Moderators could be wrong or right with any opinion stated, express or implied, and make absolutely no representations whatsoever that should be relied upon by whomsoever that what is posted is "fact" or in any way "correct" in any manner whatsoever. All investment decisions should solely be made by the individual irrespective of whatever is posted on this forum.

The Moderators herein expressly disclaim any responsibility to be anyone's advisor, fiduciary, friend, confidant, babysitter or mommy. If you are on this forum, for whatever purpose or reason, you are here voluntarily and of your sole volition as a fully functioning adult. You are fully responsibility for your own decisions, including, but not limited to, your personal behavior on this forum. Please abide by the I-Hub TOU rules and attempt to conduct yourself in a civil, respectful and somewhat dignified manner.

Good luck and good trading everyone.

LSMJ was formerly XXsys Technologies, Inc., trading on the Over-the-Counter Bulletin Board (OTCBB) market. See, e.g.,

http://www.pinksheets.com/quote/company_profile.jsp?symbol=LSMJ

LSMJ -- LeaseSmart, Inc.
Com (No Par)
Search for Dun & Bradstreet reports on this company.

Company Notes:
Formerly=XXsys Technologies, Inc. until 10-05


See also,

http://www.portfolio123.com/stockinfo.jsp?ticker_uid=9767

LeaseSmart Inc.

COMPANY PROFILE
LeaseSmart Inc.

BUSINESS SUMMARY
LeaseSmart Inc., formerly Xxsys Technologies, Inc., was organized to develop non-destructive testing and measurement techniques for advance materials in the defense industry. . . .

As an OTCBB Company, XXsys was required to and did file SEC documents. The last SEC Filing was a 10QSB filed on February 16, 1999, wherein it was confirmed that the authorized shares (A/S) was 20 million and the outstanding shares (O/S) was approximately 14 million:

http://www.sec.gov/Archives/edgar/data/885976/0000936392-99-000200.tx

"State the number of shares outstanding of each of the issuer's classes
of common equity, as of the latest practicable date: Common Stock, no par value
- - 14,074,019 shares outstanding on February 12, 1999."

After this SEC Filing, or shortly thereafter, XXsys became a dormant, non-operating shell. Everything was frozen in place, basically as left in this February, 1999 SEC Filing.




There is absolutely no documentation whatsoever, that we have been able to find, disclosing a merger, acquisition or any other sort of transformation from XXsys to LSMJ.

The contact person and former President of XXsys is Dr. Gloria Ma.

http://www.xxsys.com/contact.html

Contacting XXsys
Investor Relations
Gloria Ma
XXsys Technologies, Inc.

We have spoken with Dr. Ma via telephone who confirmed that there was no "merger" at all between XXsys and LSMJ. She futher confirmed that the Authorized Shares (A/S) was 20 million shares to the best of her recollection pursuant to the last SEC document filed by XXsys.

Dr. Ma has contacted the SEC and filed a formal Complaint, to which the SEC has not taken any action as of yet, to her knowledge.



Pinksheets.com also reports a 1-for-1000 reverse split, which would bring the oustanding shares to a miniscule approximately fourteen thousand (14,000) shares:

Current Capital Change:
shs decreased by 1 for 1000 split
Ex-Date:
Record Date:
Pay Date: 2005-10-13

However, since that was effective after LSMJ came into the picture, it cannot be confirmed whether this is accurate.



LSMJ has been trading in the hundreds of millions of shares per for several weeks. How could this possibly occur where the A/S is confirmed to be 20 million shares?

Potential Mother of All Short Squeezes (MOASS)?


Unfortunately, BHUB has been temporarily halted from trading by the DTC after an exciting run from .0001 to .007. Trading in pink sheet stocks is extremely risky and everyone needs to be aware of the risks. Recently, some people have been coming to the LSMJ Board, which, by definition, is a forum to discuss LSMJ, seeking to compare LSMJ to BHUB, and, particularly, raise concerns whether LSMJ will be halted. But in so doing, this LSMJ Board is being transformed into a second BHUB Board. The LSMJ Board Moderators will not allow this to happen. Thus, I have set forth a discussion comparing and contrasting BHUB and LSMJ. This will be the final word on the matter. If you want to discuss BHUB, please post on the BHUB Board. This Board is to discuss LSMJ, please

This will be the last reply I make to someone referencing BHUB. Anyone mentioning BHUB again on this Board will be summarily deleted.

Okay, the comparison to LSMJ and BHUB:

Comparisons between BHUB and LSMJ

BHUB has a 50 million A/S and 21 million O/S, yet several hundred million shares per day has traded in BHUB for weeks.

LSMJ has a 20 million A/S (100 million A/S, maximum) and 14 million O/S, yet several hundred million shares per day has traded in LSMJ for weeks.

The T/A, for BHUB, American Select, apparently issued the shares over and above 50 million based upon the assumption that the "BHUB" they represented was a Delaware Corp. In reality, it turned out that the T/A was issuing shares for the wrong company. The true Company was a shell known as BHUB, domiciled in Florida. Darrell Peterson, the President of BHUB, confirmed that his shell company had no relationship whatsoever with the Delaware company for which the T/A was issuing shares.

The T/A for LSMJ, American Select, apparently issued the shares over and above 20 million based upon the assumption that the "LSMJ" they represented is a Company known as LeaseSmart, Inc. In reality, it turned out that the T/A was issuing shares for the wrong company. The true Company is a shell known as XXsys. Gloria Ma, the President of XXsys, confirmed that her shell company had no relationship whatsoever with LeaseSmart, Inc., which is the company the T/A was issuing shares.

Darrell Peterson, the President of BHUB, confirmed in his interview today on Traders Nation that he did not know who John Sparrow is.

Gloria Ma, the President of LSMJ, confirmed in her telephone conversations with several posters that she did not know who John Sparrow is.


Distinctions Between BHUB and LSMJ

Darrell Peterson, the President of BHUB, stated that he "only recently" discovered that the T/S, American Select was issuing shares for his Company wrongfully. He responded by issuing several Press Releases stating that the T/A issued more than 1.5 billin "unregistered" shares.

Gloria Ma, the President of XXsys, stated that she was aware that an entity known as "LeaseSmart, Inc. (LSMJ)" took over her shell company as soon as it happened. She accordingly filed formal complaints with the SEC nearly a year ago as soon as she discovered the "hijacking."

Darrell Peterson, the President of BHUB, issued numerous Press Releases publicly challenging the T/A, which caught the attention of the DTCC. With the information so public and "in your face," of course the DTCC had to respond.

Gloria Ma, the President of XXsys, which was hijacked and transformed into LSMJ, has never released any Press Releases concerning the situation. She took her complaint directly to the SEC, nearly a year ago.


Conclusion

BHUB ran for over one month before its halt, and even when it was halted I-Hub posters had advance warning. BHUB ran in phases, the first phase from .0001 to .0007, retrace, .0002 to .0023, retrace, .0005 to .007, halt.

LSMJ is in the midst of its run. Will LSMJ be halted, who knows, certainly I don't and I don't make any representations one way or another. But I'm taking that gamble. Anyone who does not want to take the gamble should not invest in LSMJ and therefore have no reason to visit the LSMJ Board.

LSMJ is also running in phases but with higher highs and higher lows than BHUB. LSMJ ran from .0001 to .0025, and is currently retracing, to a low of .0007, and preparing for the next phase of its run.

Now people from the BHUB Board are running over here trying to "save" LSMJ from running to .007 and higher. Okay, thanks, but no thanks.


Once again, we are charting into some very speculative waters, but hey isn't that why a lot of investors trade stocks on Over the Counter and PinkSheets market? The stock that we have been trying to dig up some information on is Lease Smart Inc. (OTC: LSMJ) which is a full service commercial loan company according to their last public release back in April of 2006. Lease Smart stock tripled today on over a billion shares traded, though it is difficult to see why since there has not been any news releases issued since last year. Since there is relatively little information out there ranging from non-existent contact numbers and a lack of a corporate website, we started using a resource that has proved to be reliable in the past. We logged on to the PinkSheet's website to find something... anything. Unfortunately, not much of the information was updated for Lease Smart on the site, but we did discover that the company was formerly known as XXSys Technologies Inc., a developer of composite retrofit systems for infrastructure renewal.

But this is where it gets a little fuzzy. How did XXSys Technolog