MitoPharm Corp. (fka MTPH)

[Renee]

MTPH FINRA deleted symbol:

http://otce.finra.org/DLDeletions

[Renee]

MTPH SEC Suspension:

http://www.sec.gov/litigation/suspensions/2014/34-71465.pdf

Order:

http://www.sec.gov/litigation/suspensions/2014/34-71465-o.pdf

[laurap]

The Securities and Exchange Commission accused Seattle securities lawyer David Otto, three other individuals and two companies with conducting a fraudulent "pump-and-dump" scheme in which they secretly unloaded more than $1 million in penny stock of a company touting a nonexistent anti-aging product.

The civil complaint says the defendants violated antifraud and other provisions of federal securities laws. The SEC is seeking disgorgement and financial penalties.

The agency said misleading press releases and Web profiles touting beverages and nutritional supplements pushed the stock price of Seattle-based MitoPharm Corp. (MTPH) up more than four times to above $2.30 although MitoPharm's products were in the developmental stage. Two key products, "Restorade" and "Stamina Solutions," didn't exist, according to the complaint.

The SEC said Otto sold his shares for more than $1 million while public-relations executive Charles Bingham generated proceeds of $300,000 before massive selling of the stock caused the price to fall to a nickel by November 2007.

"Attorneys are supposed to function as gatekeepers in the securities industry," said Marc J. Fagel, director of the SEC's San Francisco office, referring to Otto.

The SEC's complaint, filed in federal court in Seattle, charges Otto; his associate Todd Van Siclen of Seattle, Bingham and his company, Wall Street PR Inc., along with MitoPharm and its chief executive, Pak Peter Cheung of Vancouver.

Otto's attorney, Jeff Coopersmith, a partner at DLA Piper in Seattle, said Otto committed no intentional violation of securities law.

"This is not the first time the SEC has made a mistake," he added.

Bingham's attorney, Ronald Kaufman, said his client is as much a victim of the scheme as any other shareholder. Bingham received MitoPharm stock as part of his payment for public relations work and relied on Otto's statement that the stock qualified for an exemption from registration.

Bingham said his firm lost money on the work it did for MitoPharm, adding he had no way of knowing the products, which were being manufactured in China, weren't as described.

The other defendants could not be reached for comment.

-By Kathy Shwiff, Dow Jones Newswires; 212-416-2357; [e-mail]
http://online.wsj.com/article/BT-CO-20090713-712395.html

[General Grievous]

lol...

[rbtree]

I reckon this company is pretty much defunct.

Their provided address ( on pinksheets) is a private home.

Talk about a blatant scheme...

[rbtree]

http://sec.gov/news/press/2009/2009-157.htm

[hotelbar]

because of there split i now own 1 share. is a shame

[MegLovesPennies]

Thanks so much, Big, for this link. Have not read it all yet, but have been hoping someone might take more action that complaints to the SEC.I'm going to post there as well.

Meg

[Bigstud is here]

https://tts.sec.gov/acts-ics/do/complaint

I do not own any shares but maybe help by posting whatever info I can.

[Bigstud is here]

U guys can read this if u want to . www.tradersnarrative.com/wish-i-could-short-mitopharm-mtpm-988.html

[cism]

Thanks, may file myself.

[cism]

Any results.

[MegLovesPennies]

You GO, Penny! I hope you get yours back and mine too. I'd much rather you had mine than this POS.

[PennyNK]

Yeah, I was shocke at what they did becuase I looked at my account today and thought gasped. Like what the hell. Then I remembered 400 to 1 or something which my broker confirmed. Good grief. But you know, I'm seeking revenge. I think I'm buying some more, flip right quick and Adios! The latest ask I thought I saw was over a buck ??? so is that a carrot dangling and from .30 to there 40+ I'll swing, flip, whatever! that damn thing. I'm gonna get mine BACK!

Quote for MITOPHARM CORP NEW - MTPH
Quote Charts Trades Financials Historical News Profile
Last Trade
0.3 Change

0.0 (0.00%) Prev Cls
0.3 Open
0.3 Volume
2,123
Day's Range
0.3 - 0.3 Bid
0.3 Ask
1.44 P/E
- Mkt Cap
- Avg Vol
-
52-wk Range
- - - P/S
- Div/Shr
- Div Date
- Yield
- Ex-Div
-
EPS (ttm)
- Float
0.0M Outstanding
0.0M Last Traded
16:48:50


LLSR — Lantis Laser Inc.
Com ($0.001)
Primary Venue: Pink Sheets

QuoteNewsChartsCompany InfoFilingsShort InterestInsider TransactionsInside Quote Best Bid Best Ask Time of Last Inside Change
0.35 (5000 shares) 0.42 (5000 shares) 3:54 PM
Last Sale 0.42 Prev Close 0.3522
Change +0.0678 % Change +19.25
Daily High 0.445 Daily Low 0.34
Volume 164,350 Last Trade 8:10 PM

Real-Time Level II Montage MMID Bid Price Shares Date/Time

NITE 0.35 5000 15:54
UBSS 0.33 5000 15:32
SALI 0.26 5000 11:26
SBSH 0.26 5000 11:30
DOMS 0.22 5000 11:45
HILL 0.20 5000 11/02
WSWW 0.15 5000 11/13
HDSN 0.14 5000 11/19
RBCM 0.05 5000 08/28
cGNLN 0.05 5000 10/01
AUTO U 08:30

Real time as of Nov 26, 2007 10:47:56 PM
MMID Ask Price Shares Date/Time

UBSS 0.42 5000 15:32
SBSH 0.44 5000 11:30
NITE 0.44 5000 15:54
WSWW 0.49 5000 11/13
RBCM 1.01 500 08/28
HILL 1.01 500 11/02
HDSN 1.01 500 11/19
SALI 1.01 500 11:26
DOMS 1.01 500 11:45
cGNLN 1.01 500 10/01
AUTO U 08:30

Trade Data / Last Trade 8:10 PM Last Sale 0.42 Change +0.0678
% Change +19.25 Tick Down
Daily High 0.445 Daily Low 0.34
Opening Price 0.37 Volume 164,350
Annual High 0.92 Annual Low 0.02
Prev Close 0.3522 Dividend 0.00
Yield 0.00 Beta Coefficient 0.00
Trade data delayed 0 minutes.


PNK OUT!

[MegLovesPennies]

So sorry to hear of your loss. I did file a complaint with the SEC. Even if it does no good, I felt better for having done it. How can it be legal for a company to do a R/S 1 for 500 at .02 and make the pps after the split .25?

If anyone wants to file a complaint with the SEC. These are the steps:

Go to www.SEC.gov. On the right, you see "Divisions/
Offices" and at the bottom, click on "more". Then hit "Office of Investor Education and Advocacy", and then "File a Complaint" and the form will come up. You can fill it out and file it electronically or print it out and mail it to the SEC. Either way,keep a copy for yourself in case something further develops.

Losing fair and square with these volatile stocks is one thing, but this is way beyond that.

[PennyNK]

What "We" Were Afraid of! Yeah, if there is a way of getting justice, please post. I'm in. This is definitely not right thing to do! A lot of innocent people lose money for now reason and this is as bad a someone robbing you face to face except how many of these folks get jail time???


MitoPharm (MTPM) Followup
Published November 12th, 2007 in Trading
Tags: email spam, google adsense, mitopharm, MTPM, penny stock, penny stocks, pink sheets, spam emails, stock dividend.

A few months ago I warned my readers about a penny stock on the pink sheets called MitoPharm (MTPM), saying I wished that I could short it. Immediately after, the price of the shares doubled (from $1 to about $2) which lead to some childish comments about my motives and my intellectual capacity.

Fast forward to now and I have people leaving ALL CAPS comments calling MitoPharm a “rip-off” and “a scam” while others are shell shocked and just want to know what happened.



Well, I tried to warn you. It was the least I could do since the people behind the scheme were targeting my Google Adsense account to promote it. This is part of the reason why Google and I parted ways.

Depending on which data source you use, the graph of MitoPharm will have a different price axis. That’s because on September 4th they announced a 250% stock dividend (issued September 14th 2007). So for each share outstanding, four were issued.

I don’t think this had anything to do with the collapse. This was a pure “pump and dump” scheme. If you want to see other examples, check out these other penny stocks. I’ve received email spam promoting each of them:

Symbol:CLRL — Email received October 22, 2007
Symbol:FFDH — Email received November 2, 2007
Symbol:HYBT — Email received November 4, 2007

There’s even a website which tracks the penny stocks touted in spam emails. I just can’t remember the name now although I’m sure I have it bookmarked or on delicious somewhere. If you know it, drop me a note.

Finally, I have to say that it is possible to make money from this sort of schemes. But, you have to be very careful and know the game. If you ride along with the promoter and exit before the “dump”, you should do fine. If on the other hand, you mistakenly believe that this is an investment, God help you.

email spam, google adsense, mitopharm, MTPM, penny stock, penny stocks, pink sheets, spam emails, stock dividend


PNK

[Mechelzi]

I had 100,000 shares or $2,000 with total loss of $5,000. No responses to my email inquiries. This company is a sham and probably only one employee, the guy with all our money.

[MegLovesPennies]

Hi Everyone,

At the time MTPM became inactive on 11/12,due to the R/S and name change to MTPH, the pps was .02. I had 19,600 shares. I was down over 70% from my original pps but still had a few hundred dollars of my investment remaining.

On 11/19, the conversion was made in my online account. I now have 39 shares at .25 ps. for a total value of 9.75! I understand and accept the risk in this kind of investing, but how can a corporation just take the remainder of my investment?

I called my broker, TD Ameritrade, and they could confirm the accuracy of the numbers but offered no other assistance. I did get the phone number for Mitopharm Corporation and also for the SEC. I wanted to post those here for anyone else who wants to contact the company or file a complaint with the SEC.

Mitopharm Corporation
601 Union Street
Suite 4500
Seattle, WA 98101

ph. 206-838-9739

When I called during business hours, I got a recording (of course), directing my call to:

Robert Adams, Corporate PR Consultant
713-401-9333

The SEC:

Office of Investor Education and Assistance
US Securities and Exchange Commission
100 F Street NE
Washington, DC 20549-0213

1-800-732-0330

www.sec.gov

I called Mitopharm and then left a voice mail for Robert Adams. I also called the SEC, got a recorded message directing me to the website where I downloaded a complaint form which I filled out on line, printed a copy for myself and then sent to the SEC electronically.

I'm hoping other people do the same. This is pretty outrageous to me and it sure seems there should be some recourse. If anyone has any further ideas, please let us all know. Thanks and GL,

Meg

[PennyNK]

I'm pretty new to this penny market stuff. On R/S I dunno know nada either. I've read that too many of them is not a good sign. I've already undergone a 7 to 2 split with this and it has not helped me any. I can't decide if the co. simply hasn't enough credibility to build the kind of finance needed to produce product. I did it as lark a while back and meant to sell right at the split as I thought people will buy and it'll run up, you'll reocver the dough. Hah!

So this is interesting for sure. Are they really trying to attract buyers to get product off the ground and keep making money for themselves or ??? Is this a dying or hopeful wish. While on vacation I need to do some very serious DD though I'm not in it big so I don't care much. I just thought it was a cute idea at the time. Maybe in the end I'll win out, maybe not. GL, PNK

[Zro]

is this bad? just curious..

[alexindef]

13:36 11/15/2007 MTPM MitoPharm Corporation Common Stock MTPH MitoPharm Corporation New Common Stock 1-500 R/S **

[Mechelzi]

Seems to me that the whole 'china products' scare will likely taper off and as all things, pass. Once it does Restorade and Stamina Solution will be poised to take off - especially in pill form within the body building market where experimentation with new health products is more prevalent and eventually leads to widespread use among the general population. In the meantime I've gleefully loaded up at this 2.5 - 4.0 price range to the tune of 100,000+ shares. Where else do you get these opportunities? $3,000 is a drop in the bucket - petty cash.

If this baby hits analysts at Beacon Research predictions of $16 I'll be retired in the Keys... Cheers!

[Penny_Train]

Building a nice base here..Should have a huge bounce one day...jmo

[mailhot72]

Any possibility this stock can bounce back a little, or should I stick a fork in it? I thought it had potential.

[mailhot72]

I'm just hoping we have hit bottom at .04! Hoping for a little bounce back in next few weeks.

[Nettles]

well at least they were fair and gave existing shareholders 2.5 shares for every one they held, still about 15 cents would put most back at par.....

[pkripper]

There were 56,938,952 shares of common stock issued and outstanding as of the period ended June 30,2007. As of the date of this filing,(Oct. 5th,2007, off pinksheets see link) there are 199,635,674 shares issued and outstanding.

http://www.pinksheets.com/otciq/ajax/showFinancialReportById?id=12088

currently the a/s is 200,000,000. So not much more to dilute...unless! I'll look at it for a bounce but the quarterly was not impressive to me. GLTA

[mailhot72]

I don't see any news. Why did this drop the way it did?

[cism]

Watching this going down & down.
Are we ever giong to bounce.
Any news??????????????

[Trend22]

MTPM -53% .05 .06 Anyone home?

[Real Knowledge]

Pretty good confernece call today with Peter Cheung the CEO... The 1st few minutes of the recording are blank the call started a few minutes late .

http://investordg.com/mitopharm_1.html

[Sideem]

Guess it was too good to be true. I was just looking through some old posts of mine and was curious to follow up on how it was doing.

[petermic]

MTPM share price collapsed today on no negative news.

This likely means someone was selling a big holding, likely someone who knows the true value better than the public.

[Real Knowledge]

250% dividend announcement this morning

[grantg2]

RK... this could be the real deal...

at least it is not down in the low pennies... I have my share of misery there. But some successes, too.

This is a bit above that... will be looking at it carefully. I have not yet decided whether to buy or not.

GLTA

JMO...

[Real Knowledge]

Did the research Hong Kong University of science and technology does have a Dr. Robert Ko who has done a bunch of research on mitochrandial decay and the schisandrian berry... I'm pretty sure the university would not allow its name to be used if this was all fluff - FYI - September is "Anti-Aging" month... maybe this thing gets some media attention

[Chimaera1950]

A 200% stock dividend-split announcement,
A $.45 pps drop and not ONE post?

So very, very quiet, you know...

[klce]

I would wait for the product to come out as well.

[hotelbar]

i received the same advertisement in the mail and im thinking of buyig it. I just think 2 dollars is kind of high for an otc stock. It leaves plenty of room to drop big time. Does anyone know when this company started selling shares on the market.

[grantg2]

redrabbit... I seriously doubt there is any

hurry to rush in and buy this stock.

Depending on the effort of the pump/promotion, it might get some upward movement... but I have YET to see one recently that has both legs AND staying power!

If you must play MitoPharm, consider it a short term play to flip. Put in money you can afford to lose & when you have a gain, keep a mental 10% stop on it, and SELL immediately if it slips! At least recover your initial capital and ride free shares.

If the company prospers and grows, you can always buy more over time on pullbacks... the chart in the iBox would lead us to believe it has already had a pretty nice move up (for whomever owned it in the beginning!)!!! :O)

I have watched 5 of these in the last year that I got in the mail... some did not run at all. EVEN after the mailer PUMPING!

TNEN (True North Energy) was pumped at 3 and ran to 6 last summer... go look at its chart now after the fact! 0.39

PPBL (Premier Publishing Group) was pumped about .50 ran to a little over a dollar... check the chart! 0.015

Do your on DD on this one... or any others you get in the mail "FREE" (especially IF a paid advertisement!). If you find one winner in ten, I'll be very surprised!

I do own ONE that came as a mailing advertisement... because it is a real company with a free $60 million development grant from a German state to build a plant. The rub is... it is only about a quarter and the plant will not be producing until late next year. It is a 2-5 year play to go above a buck, but it has a unique product... and I am very familiar with the industry that will be its primary customer. That is the only reason I bought into it! In 10 years it could be a $10 stock.

JMO...

[redrabbit]

I got the same mailing today.

Why would a company pay to advertise their stock, not their product? Do they need money to market their product? Most of the times dilution accompanies these mailers, even if it is just the stockjournal cashing in their advertsiing fee of Mito shares.

[grantg2]

I received the same mailing...

after the cover page, every page says "Paid advertisement, do your own Due Diligence."

So what's the story here?

Is this a for real company with a break-through product or a simple P&D like so many direct mailers turn out to be?

I will be reading to catch up on the DD.

GLTA...

[klce]

cool be nice thing to try.

[Zoom-Zoom-Away]

No but call IR I think it is close now. Last I heard was back in late Spring.

[klce]

Is this stuff on the market yet?

[americano]

Got the mailer, it looks to good to be true, as per fountain of youth.

[Sideem]

It was a direct mail piece.

[Sideem]

It does look promising...then again so do a lot of other stocks that are touted in advertising.. I'm tied up in other stocks as well but I'll definitely add this to my watch list.

[mngtplayer]

I just received this samething also. I have to admit the chart looks pretty attractive, but unfortunately I currently have my funds tied up in other things right now. However, I will keep this on my radar.

[Real Knowledge]

I guess they did not send to the shareholders data base - I didn't receive one... How was it mailed 1st class or a direct mail piece?