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Massive dilution and scam…don’t listen to fakechartmaster, he’s a complete clown and bagholder.
Company is actively diluting. Over 200 million shares the past four weeks.
Interesting volume and movement . Will be watching closely today.
138mill volume on news, yet few posters, OTC come back is bigger than Ihub!
Unrestricted OS 6,104,620,029 05/06/2024
https://www.otcmarkets.com/stock/OZSC/security
LOLOLOL NOT!! LOSER
Ozop Energy Solutions enters into partnership with Moxie Lighting
https://seekingalpha.com/news/4101165-ozop-energy-solutions-enters-into-partnership-with-moxie-lighting?utm_source=otcmarkets&utm_medium=referral&feed_item_type=news
Looks like investigations are no doubt in the works.
This company is scam! Sell your shares guys! SCAM, SCAM, SCAM!
OZSC = CONway SCAM
Inability to deliver when CEO advertises is exactly why this is going to burn to the ground. Who is backing or buying insurance from a company that has $5 million in assets and $ 30 million in Liabilities? Lies is exactly why this POS is going to fail.
Insane take, company has warranty product relationship with Royal.
Company may fail, but it is not because of lies.
Going to burn down.
Once its fully crashes the lies can be proved and no doubt jail time for Conman,
Conway should be saluted for forming a phony advisory board for a phony product.
News: Ozop Energy Solutions, Inc. Announces Formation of Advisory Board for OZOP ARC
CEO is gifting shares at 80% of face value to a toxic lender. Lender selling them as fast as he can for a tidy profit.
You tell me...lol. The guy is reckless...been selling like he don't give a fuck about the share price for a month now...
Ozop is diluting shares to a toxic lender. This stock is as poisonous as it gets.
So much selling by OTCN...no class at this point....
To drop under .0010 by years end.
Conman, 2 cons in one decade. Thought he would double down and not get caught.
You got caught.
Exposure is the point you seem to be upset about. Who questions another's due diligence?
Brian CONway SCAM
All of the manufacturing equipment was sold off, per a BK filing. In addition, they have No manufacturing facility. The whole thing was a CONway scam.
So many were warned by the experts they scorned.
Now so many sit on so much loss trusting the word of a CEO who kill off investors in scams years earlier.
Now ppl try and hype there way up the ladder so they can bail. The next rise if ever will be a 100% pump and dump by retail.
PCTI is filing BK. So we know, no orders are being filed. But this allows Conman to dismiss creditors and to stall any action against OZOP. Its why he restructures constantly.
Nothing is happening. It’s a scam.
It is beginning to look like it.
Maybe after all these years the CEO has learned that results speak louder than words. Included his scams for the several years.
Would really like to believe we are turning the tide here.
Why is this chart looking bullish? What's happening?
U.S. Bankruptcy Court
WESTERN DISTRICT OF PENNSYLVANIA (Pittsburgh)
Bankruptcy Petition #: 22-21958-CMB
Assigned to: Bankruptcy Judge Carlota M Bohm
Chapter 7
Voluntary
No asset
Date filed: 10/03/2022
341 meeting: 03/06/2023
Deadline for filing claims (govt.): 04/01/2023
Debtor
Power Conversion Technologies, Inc.
789 E. Butler Road
Butler, PA 16002
BUTLER-PA
Tax ID / EIN: 25-1665712
represented by
Guy C. Fustine
Knox McLaughlin Gornall & Sennett, P.C.
120 West Tenth Street
Erie, PA 16501
814-459-2800
Email: mwernicki@kmgslaw.com
Trustee
Jeffrey J. Sikirica
Jeffrey J Sikirica, ESQ
PO Box 13426
Pittsburgh, PA 15243
724-625-2566
U.S. Trustee
Office of the United States Trustee
Liberty Center.
1001 Liberty Avenue, Suite 970
Pittsburgh, PA 15222
412-644-4756
Latest Dockets
Date Filed # Docket Text
11/30/2022 16 Certificate of Service of NOTICE OF PROPOSED ABANDONMENT OF ESTATE PROPERTY PURSUANT TO F.R.B.P. 6007(a) (with attached lists of property abandoned) Filed by Trustee Jeffrey J. Sikirica (RE: related document(s): 15 Notice of Intent to Abandon filed by Trustee Jeffrey J. Sikirica). (Sikirica, Jeffrey) (Entered: 11/30/2022)
11/30/2022 15 Notice of Intent to Abandon Inventory, office equipment (see attached list) and machinery & shop equipment (see attached list) Filed by Trustee Jeffrey J. Sikirica (Attachments: # 1 Attached lists of property abandoned) (Sikirica, Jeffrey) (Entered: 11/30/2022)
11/30/2022 14 Meeting of Creditors Adjourned. Debtor(s) were present. Requesting additional financial documents for review which may generate additional questions. Filed by Jeffrey J. Sikirica 341(a) meeting to be held on 3/6/2023 at 03:30 PM at 341 telephonic hearing. (RE: related document(s): 10 Meeting of Creditors Chapter 7 No Asset Business/Corporation). (Sikirica, Jeffrey) (Entered: 11/30/2022)
11/03/2022 13 The upcoming 341(a) Meeting of Creditors is scheduled to be held by a telephonic conference call only. Call 1-866-564-5706 and use access code 3737121 followed by the hashtag (# sign) on your phone. After joining the meeting immediately mute your phone to prevent background noise. (If your phone does not have a mute button then press *6 to mute your call, press *6 again when you want to unmute your call.) Again wait until your case is announced before unmuting your phone as there are multiple cases scheduled each hour. Creditors and other parties of interest, contact the Chapter 7 Trustee at 724-625-2566 or TrusteeSikirica@zoominternet.net to notify the Trustee if you plan on attending the telephonic 341(a) Meeting of Creditors. (Sikirica, Jeffrey) (Entered: 11/03/2022)
10/26/2022 12 Notice of Appearance and Request for Notice by Jeanne S. Lofgren Filed by Creditor Meraki Advisors, LLC (Lofgren, Jeanne) (Entered: 10/26/2022)
10/20/2022 11 BNC Certificate of Mailing - Meeting of Creditors. (RE: related document(s): 10 Meeting of Creditors Chapter 7 No Asset Business/Corporation). Notice Date 10/20/2022. (Admin.) (Entered: 10/21/2022)
10/18/2022 10 Meeting of Creditors 341(a) meeting to be held on 11/21/2022 at 01:00 PM at 341 telephonic hearing. (dpas) (Entered: 10/18/2022)
10/17/2022 9 Notice Regarding Modification to Mailing Matrix Filed by Debtor Power Conversion Technologies, Inc. (Fustine, Guy) (Entered: 10/17/2022)
10/17/2022 8 Petition Completed Filed by Debtor Power Conversion Technologies, Inc. (Fustine, Guy) (Entered: 10/17/2022)
10/05/2022 7 Declaration Re: Electronic Filing (RE: related document(s): 1 Voluntary Petition Chapter 7 filed by Debtor Power Conversion Technologies, Inc.). (dpas) (Entered: 10/05/2022)
In case anyone is foolish to believe that CONway has PCT Inc still operating, AND those $25 million dollar deals were nothing but a SCAM
https://www.inforuptcy.com/browse-filings/pennsylvania-western-bankruptcy-court/2:22-bk-21958/bankruptcy-case-power-conversion-technologies-inc
BANKRUPTCY
OZSC SCAM
CONway SCAM
Article is a complete and total fraud. For starters, PCTI has been out of business around a year now and under bankruptcy proceedings. OTCQB eligible? The price of the stock is a half cent a share making them ineligible. Need I go on?
Ever time I read this I get a good laugh -
Yes Brian CONway is a serial fraudster, a scammer and has utterly destroyed people lives and their livelihood
re: CEO has a history of "scams" and "pump and dump" - Brian Conway is an IR guy with a history of specializing in taking nearly failed companies and trying to restore them to shareholder value. Correlation doesn't equal causation. Logical fallacy, look it up. People like to say "Conway was the head of LIBE which failed and diluted, scam scam scam." LIBE is the one everyone remembers because it didn't succeed, but there were ones he did succeed at like GBRC and SHMP, and he is succeeding at OZSC now. Obviously a guy who primarily steps into nearly failed companies is going to have to do things like dilute, and when you are the one stepping in and taking over a company that is already in a very tenuous state, you can hardly be called the one to blame for its circumstances because you tried to turn it around and didn't succeed once.
2) re: OZSC was a surgical company a few months ago. Yes, it was. OZSC was a surgical company and it was headed by CEO - Michael D. Chermak until February 2020. Brian Conway (the founder of Waypoint) was the IR contact for OZSC and Chermak. Chermak essentially brought the surgical company to the brink of bankruptcy, took out an onslaught of convertible notes and then bailed. During the same time, Brian Conway had formed a relationship with Cathy Chis, president of PCTI.
Brian helped PCTI to transition from a private company to a public company. One of the cheapest and easiest ways to bring a private company into the public is via a reverse merger. Brian first tried to take PCTI public through the ticker ELTZ. However, that deal fell through because it turned out that ELTZ had significant undisclosed problems. Cathy then suggested Brian take the ticker public through OZSC. Brian advised Cathy against doing this because OZSC had significant debt and was a ticker with a lot of baggage instead of a clean ticker. Cathy and Brian took the ticker public through OZSC because instead of paying for a shell company, like most private companies would have to do to go public, Cathy and PCTI would receive 2 million in financing instead. For that reason, Cathy went with OZSC to take PCTI public.
PCTI has a 29 year history in the power conversion and electrical engineering markets with clients such as the entire US Military, BAE Systems, General Dynamics, NASA, Mitsubishi, etc. Their reputation in the industry is flawless, and they are the only US manufacturer of high MW power inverters with NO COMPETITION. PCTI had a difficult year in 2019 because Mihai Chis, the founder of PCTI and Cathy's husband passed away. Cathy decided to take the company public to honor him and build his vision into something even bigger. Brian stepped in reluctantly as CEO, and as soon as PCTI reverse merged into OZSC in June 2020, Brian began the pivot into the energy sector.
3) re: OZSC is a scam, fake company, etc. This ties into #2, but do you really think that a company with a flawless reputation like PCTI, and the US Military and the largest DoD contractors as ongoing clients would ever possibly be a scam? Do you think a company like this headed by someone with as sterling of a reputation as Cathy Chis would participate in a scam? Are you that foolish?
Do you know the amount of credibility and background checks you have to pass to have NASA and the US Military as a client? This shouldn't ever be brought up, because it's so absolutely ridiculous that it has no legs to stand on.
4) re: OZSC (and/or Brian Conway) is a dilution scam, and they're going to dilute even more! - See #1 regarding the types of companies that Brian steps into to fix them up, and #2 regarding the state of OZSC and the surgical company BEFORE Brian ever stepped into the role of CEO in February 2020. 90% of the convertible notes and dilution that took place between February 2020 when Brian stepped in as CEO and the present were taken out by Michael Chermak before Brian was ever on board. Brian renegotiated much of the legacy debt, and cleared up most of the rest of it. Additionally, as a growing company, Brian did take out a few more convertible notes for the following purposes: 1) Funds to pay Cathy Chis as part of the contract for the reverse merger to bring in PCTI to OZSC; 2) Funds for interim operations of business due to 2019 being a poor year for PCTI because of Mihai Chis' passing; 3) Funds to expand into energy storage and renewables and form the new subsidiary, Ozop Energy Systems, which has already secured the deal with WESCO and has far more on the way to make up for the brief debt.
Yes, there were a lot of shares diluted during this period of time, but none of the worst of it is on Brian, and the parts that are occurred for good reasons that will lead to far more development for the company.
I did recently talk to a former employee who was one of the last 3 to leave PCTI. They kind of figured it was somewhat of a scam as the numbers never added up and the move to Butler moved production backwards and magnitudes less efficient. No real sane executive would make those moves. It wasn’t hard for the employees to see the CON that Brian CONway unleashed on the employees and decades of customer relationships.
Scam from the word go
CONway SCAM
I knew he was killing PCTI when I busted them on the fake photos of the near empty building and the parking lot, and the staged manufacturing facility that was not at all set up for manufacturing. I reached out to a firmer employee that wants to share what went on. Former employees are very upset.
ENOUGH!! from you! already!!!
lol. The "action" is dilution to GHS. Only place the price is going is down.
I doubt Scamway had any intention of keeping PCTI running. That would require managing and running an actual business. Scamway prefers to run stock scams.
He destroyed a perfectly healthy technical manufacturer which should have had years of production left, with some competent management and engineering.
CONway SCAM
There is no lawsuit against them that I am aware of. Scamway said on his discord about a year ago his lawyers were looking into legal action against Cathy because of "inconsistencies" in PCTI's books before the merger. Complete and total rubbish. 1) No lawsuit has developed. 2) In any business merger/acquisition, there is always a thorough investigation of the company's books before it finally takes place. But like the con artist he is, Scamway has to make it look like the demise of PCTI is not a result of his doing.
Isn’t he and Catherine getting sued by somebody? Missed payments or something ? For a company (PCTI) that was so special, so specialized, CONway certainly wasted no time destroying it. I knew the day I saw the photos of the warehouse, and checking the supposed date/time compared to the weather the alleged date it was alleged to have been taken, I checked against the published weather reports. It was a total scam. I reflect back and think of the CONway loyalist that criticized me, no I just look back and say yes, I told you so.
I am certain they wished they had listened
OZSC = CONway SCAM
Same as every deal Conway has touted on his discord. "It just kind of poofed."
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On February 28, 2020, Ozop Surgical Corp. (“we,” “us,” “our,” “OZOP,” or the “Company”) entered into a Binding Letter of Intent (the “LOI”) with Power Conversion Technologies, Inc., a Pennsylvania corporation (“PCTI”), and Catherine Chis (“Chis”), PCTI’s Chief Executive Officer (“CEO”) and its sole shareholder. Pursuant to the terms of the LOI, the Company will acquire 100% of the issued and outstanding shares of PCTI (the “PCTI Shares”) from Chis (the “Acquisition”) in consideration of (a) the issuance by the Company to Chis of (i) 47,500 shares of the Company’s Series C Preferred Stock (pursuant to an amended certificate of designation to be filed prior to closing the Acquisition), (ii) 18,667 shares of the Company’s Series D Preferred Stock (pursuant to a certificate of designation to be filed prior to closing the Acquisition), (iii) 500 shares of the Company’s Series E Preferred Stock (pursuant to a certificate of designation to be filed prior to closing the Acquisition); and (b) the Company paying $400,000 to PCTI in multiple tranches, with an initial tranche or tranches totaling $100,000 within 90 days from the signing of the LOI and with the aggregate of $400,000 being paid in full at the latest upon execution of a definitive purchase agreement or at such other date as shall be agreed to by the parties.
Link to LOI https://www.sec.gov/Archives/edgar/data/1679817/000155479520000053/ozsc0227form8k.htm
WARWICK, NY., June 02, 2020 (GLOBE NEWSWIRE) -- Ozop Surgical Corp. (OTCPK: OZSC), (“Ozop” or the “Company”), today announced that Power Conversion Technologies, Inc. (“PCTI”), has recently been included in a bid issued by a defense contractor for the US Air Force for the manufacture of various power converter modules for two prototype flight-line power carts as part of the Air Force’s Flightline of the Future effort equipment and communications modernization effort. Currently the Air Force uses older diesel engine driven generators and is looking to switch to pure battery powered carts. The Air Force currently has 4,500 generator, primarily diesel engine driven. The intention of this effort is to replace them with efficient, quiet battery-powered carts. Management believes that with its numerous years of experience in the field working with the Air Force, other branches of the DOD as well as previous similar successful projects with this client, it is well positioned to be selected for this contract. The average revenue per cart for PCTI is estimated to be between $80,000 and $100,000 depending on quantity. PCTI President Catherine Chis commented “We had an excellent collaborative relationship with this client on a previous project. Our team would enjoy working with them again on this important opportunity for the modernization effort for the Air Force.”
Who is
PCTI designs and manufactures power conversion technology in the highest power ranges
Power Conversion Technologies, Inc., a certified DBE Woman-Owned business, designs and manufactures equipment in response to the growing demand for power electronics in the highest power ranges. PCTI has been addressing a new era in power electronics as applied to industrial equipment since 1991.
PCTI’s engineering staff has in-depth knowledge in the key areas of power conversion such as power semiconductor analysis and application, thermal exchange, magnetic design, packaging, DSP (digital signal processor) control for converters/inverters, embedded system design, digital communication, and HMI (human machine interface).
New materials and components are continually analyzed so that we may be able to pass increased quality and decreased cost on to the customer. Equipment manufactured at PCTI has been designed for production efficiency and maintainability in order to provide the best value for the customer. PCTI’s staff has industrial applications expertise in the power conversion field dating from the introduction of industrial power electronics in the 1960’s to the modern industrial applications existing today and those that will exist tomorrow.
Our customers are located throughout the world in Europe, Asia and the United States and include general industrial customers, and military customers both domestically and internationally. Some of our typical applications include heavy industrial applications, equipment for research laboratories, aircraft ground support, battery chargers, metal finishing, testing, water conditioning, electrochemical processes, transportation, custom distribution equipment and telecommunications.
Check out this video about our company:
Our DC power supplies use a multipulse SCR / IGBT design to achieve high efficiency, low ripple, precise regulation and low output noise, available in ratings from 5KW to 20MW.
PCTI offers rugged high-current battery chargers to meet all of your high-current industrial charging applications from 5KW to 2MW.
DC/DC, DC/AC, AC/AC, solar cell power stations, power transmission, electrostatic precipitator
Distribution equipment, gate boxes, switchboards, line drop compensators, line protection modules
Integrated modules with IGBTs, SCRs, MOSFET, Diodes, GTO, GTC-Bipolar
Prototyping, R&D, consulting
Because power electronics permeate every industry, PCTI customers span a wide spectrum of applications. Our applications range from testing utility circuit breakers to charging submarine batteries for use in submarines and many others.
The following is a sample of our customer base and their applications.
Applications
400Hz Frequency Converters for Aircraft Ground Support, Battery Chargers, Heavy Engine Starting, Plating Power Supplies
Applications
Submarine Battery Chargers, Converters for Aircraft Ground Support, Missile Launching Power Supply, DC Power Supplies for Communications, Inverters for Solar Power Offshore Platform
Applications
400Hz Frequency Converters for Aircraft Ground Support, Battery chargers, Research Laboratory
Applications
Ground Power for Space Shuttle Payloads
Outstanding Common Shares | 3,107,043,764 as of Sep 1, 2020, per TA | Up 422,377,302 (16%) from July 1, 2020 |
Authorized Shares | 4,990,000,000 | |
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