Pacel Corp (PCOR)

[timhyma]

Heck, I didn't even know about this split
In February 2004 the Company effected a one-for-one hundred reverse stock split restating the number of common shares at December 31, 2003 from 1,675,736,763 to 16,757,368. All references to average number of shares outstanding and prices per share have been restated retroactively to reflect the split.


BTW, I "invested" in company back in 2000. I beleive the symbol was PLRP at the time. The product was child watch- and had N'sync as a sponsor. Ended up scamming a lot of people back then.

[timhyma]

The Securities and Exchange Commission ("SEC") filed an action in Federal District Court asserting various violations of securities laws against the Company and its principal officer. The complaint alleges that Mr. Frank Custable "orchestrated" a "scheme" to illegally obtain stock from various companies, including the Company, through "scam Commission Form S-8 registration statements, forged stock authorization forms and at least one bogus attorney opinion letter arranged by Custable." The complaint alleges that, in connection with this alleged "scheme," the Company and its CEO, David Calkins violated
Section 17(a) of the Securities Act and Section 10(b) and Rule 10b-5 of the Exchange Act. The SEC asks that the Company and Calkins be permanently enjoined from future violations, ordered to pay disgorgement and civil penalties and Calkins be barred from continued service as an officer and director. As part of an ex parte proceeding, the District Court has ordered the Company and Calkins to provide an accounting of their assets and the transactions that are the subject of the complaint. Pursuant to an agreement of the parties, that accounting is due on June 30, 2004. The Company has been served with the complaint and a scheduling order has been put into place. A response to the complaint is currently due on July 30, 2004. Under the scheduling order fact discovery must be completed by December 23, 2004 and expert discovery must be completed by March 29, 2005. Final dispositive pre-trial motions must be filed by May 13, 2005. A trial date has not yet been set.


During 2003, the Company began experiencing difficulties in processing unemployment claims for its North Carolina worksite employees. Upon research of the difficulties, the Company learned that its North Carolina Employment Security Commission ("ESC") account was being actively reviewed by that agency. Although the Company has received no notices in writing from the agency, it has engaged counsel to bring this matter to a close as quickly as possible. Based on discussions held to date between counsel and the ESC, the Company estimates that the liability resulting from this investigation will be approximately $95,000. The Company recorded such liability in the first quarter of 2004 and expects final resolution of this matter by the end of June 2004.

The Company, as a member of the Phoenix Fund of North Carolina through its Asmara Services I, Inc. subsidiary, is party to an indemnity agreement providing joint and several liability for the Company to secure any outstanding liabilities should the fund become insolvent. The Phoenix Fund is a recognized insurance facility, regulated by the North Carolina Department of Insurance ("NCDOI"), through which the Company provides workers' compensation coverage to its clients located within the State of North Carolina. The Company is party to such agreement in conjunction with the other 1,200 members of the fund. The Fund, by policy, establishes reserves for all losses on a full developed basis and is subject to quarterly and annual reporting of the status of its capitalization and operations to the NCDOI. The fund was required by the NCDOI and has issued a surety bond that would act as the primary vehicle for funding such liabilities should the fund become insolvent. The NCDOI, through provisions in the law, can waive any such assessments on behalf of the fund should the State determine that such assessment was not likely to be successful. Management believes the likelihood of any assessment is minimal due to the continued oversight of the fund by the NCDOI and the fund's establishment of sufficient reserves to cover fully developed losses.

[timhyma]

This is good-
Due to existing credit issues and the SEC lawsuit, Pacel Corp. found that it was becoming extremely difficult to obtain funds for acquisitions. Therefore, the Officers and Board of Directors began exploring alternative means by which to secure adequate financing for acquisitions. The Board of Directors decided, and the officers of the company agreed, that David Calkins and/or Kay Calkins would form a new company independent of Pacel, and at the same time, resign as an Officer and Director of Pacel in 2004 (referred to as "Newco"). The purpose of forming Newco was to acquire businesses in the HRO industry in markets where Pacel did not do business, and to benefit Pacel shareholders through administrative services and management contracts and leases of Pacel technology, operations, and processes to operate the companies acquired. Newco will only pursue acquisition candidates that Pacel has been provided an opportunity to review, but has rejected. . Newco will fund all of its acquisition costs. In the event that Newco successfully acquires a company or its assets/operations, Newco will execute a service agreement with Pacel to perform all or the majority of the administrative, management and operational services necessary to operate the acquired business. In May 2004 F. Kay Calkins director and wife of David Calkins formed Newco and its corporate name is Piedmont HR Inc. To date, Piedmont HR has not completed any acquisitions or hired any employees.

[timhyma]

With this burn rate, and $77K banked, how long to you think?
Net increase (decrease) in cash and cash equivalents (605,146)

Lease Commitments. In April 2003, in connection with its acquisition of Asmara, the Company became party to a real estate lease for office space located in Charlotte, North Carolina. The lessor for this property is W. Revel Bellamy, the former President and CEO of the Company. The lease expires on December 31, 2004 and requires monthly lease payments of $5,000. The Company made payments totaling $10,000 during the quarter ended March 31, 2004.

The Company recorded a liability to David Calkins in the amount of $199,141 and $251,583 at March 31, 2004 and December 31, 2003 respectively, for accrued payroll and loans

Officer Loans. In conjunction with its acquisition of Asmara, the Company issued a non-interest bearing note payable to the shareholder of Asmara, Inc. in the amount of $431,530, payable over a two year period and executed employment contracts with W. Revel Bellamy, the principal officer and sole shareholder of Asmara and former President and CEO of the Company. The balance of the note at March 31, 2004 was $113,840. In addition, the Company provided a letter agreement to Mr. Bellamy to provide payment for certain personal liabilities retained by Mr. Bellamy in conjunction with the acquisition. In 2003, the Company recorded $813,351 as a note payable to Mr. Bellamy. The balance of the notes at March 31, 2004 was $927,191.

[SlackerSS23]

Well, there WAS a PR a few weeks ago saying that they would acquire Rossar, LLC by the end of June 2004 due to some capital they got... so that deals probably coming to a close

[timhyma]

THERE IS A RUMOR THAT THERE IS A MERGER BREWING - JUST A RUMOR
somebody passed on at bullishpenny stocks.

Most likely another R/S, lol. I think it has R/S 3 times in the last 4 years.

[jawz_2020]

PCCL RUMOR: MERGER NEWS WED

From: "y2kings4us" <y2kings4us@y...>
Date: Mon Jun 28, 2004 12:01 pm
Subject: PCCL looks like it will start runnin again.

keep an eye out there is suppose to be news by wed. on mer/acq. it could be big. 11 million more a year big.

http://finance.groups.yahoo.com/group/bullishpennystocks/message/7725

[jawz_2020]

PCCL.OB up 24% today so far - JAWZ TOLD Y'ALL LAST WEEK!

PCCL.ob UP +.0013 to .0067 Hi - see New I- HUB site!

PCCL.ob Last .0063 - RUNNING to .01 minimum IMHO

http://www.investorshub.com/boards/board.asp?board_id=2673

I have started a new message board for PCCL.ob @ I Hub, since the old I-Hub board under the old ticker (PACC.ob) seems to have been disabled since the Reverse split (1 to 100) on Feb 25, 2004 - the day the ticker changed to PCCL.ob.

THERE IS A RUMOR THAT THERE IS A MERGER BREWING - JUST A RUMOR
somebody passed on at bullishpenny stocks.

I HAVE LOTS OF DD INFO UP ON THE NEW I-HUB BOARD; CHECK IT OUT!

jawz_2020 is long only 140,000 shares PCCL.ob in my son's Education IRA. I have been trading it for several months, and had a folder at {Links} at shortsharks, which i moved with a few updates to I-Hub for easier access by non-shortsharks members.

PCCL.ob is an example of the TRUTH of STOCKGATE - ie, the criminal practice of naked shorting securieties on the Berlin stock exchange, among others

HISTORY PROVES THIS!! JUST LOOK AT PCCL.OB:

HAVE YOU BEEN WATCHING WHAT HAPPENS TO THE PPS OF PENNY STOCKS LIKE PCCL.OB THAT HAVE DEMANDED TO BE DE-LISTED FROM THE BERKIN STOCK EXCHANGE, WHERE THEY WERE LISTED WITHOUT THEIR PERMISSION OR KNOWLEDGE FOR THE PURPOSES OF BEING CRIMINALL NAKED SHORT SOLD IN VIOLATION OF AMERICAN SECURITIES LAWS?

AS SOON AS THE STOCK IS DE-LISTED FROM BERLIN, THE PPS RUNS HARD FOR A WEEK!! PCCL.OB HAS RAN FROM A LOW OF .0017 LAST TUESDAY TO A HIGH SO FAR OF .0064. LAST TUE, AFTER HOURS, A P R ANNOUNCED THAT PCCL HAD DEMANDED TO BE DELISTED FROM THE BERLIN EXCHANGE, AND IT HAS BEEN OFF TO THE RACES EVER SINCE. "NO BRAINER" FREE MONEY, JUST
LIKE I TOLD Y'ALL LAST WEEK.

Pacel Corp Demands Immediate Delisting From Berlin Stock Exchange Wednesday June 23, 4:05 pm ET

http://biz.yahoo.com/prnews/040623/clw064_1.html

http://stockcharts.com/def/servlet/SC.web?c=PCCL,uu[h,a]daclyyay[da][pd20,2!b12!f][vc60][iut!Uf!Uc20...

http://tinyurl.com/2fqgs

http://www.investorshub.com/boards/board.asp?board_id=2673

http://tinyurl.com/2qun6


Ble$$ing$,

jawz_2020

---------------------------------------------------------------
ABOUT "STOCK GATE"

US Securities Laws are routinely circumvented by
trading on overseas excchanges

Many OTC companies are naked shorted on the Berlin
stock exchange where dilution makes the comapnies
worthless. Once they go out of business, the shorts
do not have to cover. Its like printing money for
them, same as counterfeiting stock certificates or
currence.

This is all fully documented and the subject of a TV
expose (ABD "DATELINE") that for some mysterious
reason keeps getting delayed in being broadcast.

WHAT IS UNIQUE ABOUT CMKX IS THAT URBAN CASAVANT HAS
BEEN ABLE TO "FIGHT BACK" BECAUSE HE WAS ABLE TO
SECURE FINANCING TO BUY ALL THE COUNTERFEIT SHARES
THAT WERE BEING NAKED SHORTED.

HE GOT THE FINANCING BECAUSE HE WAS ABLE TO PROVE TO
HIS BACKERS THAT HE HAS THE WORLD'S MOTHER-LODE OF
DIAMAONDS - ALREADY DISCOVERED.

BUT HE COULD NOT LET THIS BE KNOWN THEN OR ANYBODY
WITH A FEW MILLION DOLLARS COULD HAVE BOUGHT EVERY
SISNGLE SHARE OF CMKX STOCK - WHICH IS EXACTLY WHAT
URBAN CASAVANT HIMSELF HAS DONE, MOST PEOPLE THINK.

"THE CASAVANT MANAUEVER" WILL BE A CASE STUDY IN STOCK
HISTORY FOREVER. YOU REALLY NEED TO GET IN ON THIS
ASAP

http://tinyurl.com/353a2

23 June: SEC Adopts Changes to Short Sale Rules,
Disclosures "REQUIRES" MARKET MAKERS TO PROVIDE STOCK
CERTIFICATES WITHIN "TWO WEEKS"

http://www.sec.gov/news/press/2004-87.htm

Dateline Losing Credibility; 'Naked' Shorting &
'Stockgate' Expose shelved!!

Mark Faulk, editor, "The Faulking Truth" web magazine

exposing the ECONOMIC TERRORIST ATTACK ON THE AMERICAN
ECONOMY VIA "NAKED" SHSORTING THE STOCKS OF VULNERABLE
SMALL COMPANIES IN AMERICA, CANADA, BUT MOSTLY
OVER-SEAS, ESPECIALLY ON BERLIN EXCHANGE - ON-GOING
GEO-POLITICAL WARFARE SANS BULLETTS VIA ELECTRONIC
ATTACKS ON THE ECONOMIES OF NATIONS.

http://www.faulkingtruth.com

http://www.faulkingtruth.com/article/?Investing101&1005


Naked Shorting, and Regulatory Negligence
http://www.investorshub.com/boards/read_msg.asp?message_id=3321342


StockGate A Call to Arms
http://www.faulkingtruth.com/article/?Commentary&1006


StockGate Exposed web site
http://www.faulkingtruth.com/

ma$$ive wealth tran$fer from Naked Shorts to CMKX
Longs Looming
http://finance.groups.yahoo.com/group/shortsharks/message/10234


'Naked' Shorting & 'Cellar Boxing'
http://www.investorshub.com/boards/read_msg.asp?message_id=2544089


'Naked' Shorting - Citigroup implicated
http://tinyurl.com/2foqw
________________________________________________________________

UNDERSTANDING THE "STOCKGATE" SCANDAL ALSO HELPS TO EXPLAIN WHAT IS HAPPENING WITH CMKX (Although it was naked shorted HERE is America!)

(THE FLOAT IS A SUB-SET OF ALL THE SHARES OUTSTANDING:
0\S LESS INSIDER HOLDINGS (URBAN'S, OTHER OFFICERS, BACKERS)= FLOAT)

(A FAN) wrote:
>
> {"I have a question. I am missing something. You estimate that
there are 10 billion outstanding shares yet you also estimate that there is a 100 billion short posistion. How can this be? As I understand it, Outstanding shares are those available to be traded. Unless I am not understanding something that should be pretty fundamental, it should not be possible to sell short more shares than are actually available to be traded. What am I missing here?"}
________________________________________________________________
THE FAILURE OF ABC TO BROADCAST ITS EXISTING "STOCKGATE" EXPOSE OF ECONOMIC TERRORISM ON AMERICA I CONTINUING TO ALLOW CRIMINAL NAKED SHORTS TO DECEIVE THE PUBLIC ABOUT WHAT IS AND IS NOT POSSIBLE.

{"...Unless I am not understanding something that should be pretty fundamental, it should not be possible to sell short more shares than are actually available to be traded. What am I missing here?"}

What the above fan and 99% of the public is missing is that WHAT IS AGAINST THE LAW IS NOT ONLY NEVER-THE-LESS POSSIBLE; AND IT IS, MOREOVER, DONE EVERY DAY!!

(see "ABOUT "STOCKGATE" above)
______________________________________________________________

[gody123]

i think pullback to 0.0030 next week 28jun04

[gody123]

Day two of the run... watch for pullback...

[avrcemonplst]

This stock came under my radar as a naked short victim.
http://mylocation.net/advr/april25.htm

Naked shorts don't scare me if the timing is right, and the timing is starting to look good here. ST hold, IT buy, LT strong buy.

[jawz_2020]

RUMOR: MERGER COMING / TARGET = $.03

Greeting$ Fan$!

jawz has put all his PCCL.ob DD here at I-Hub FBO non-shortysharks members.

jawz_2020 is Long 140,000 PCCL.ob I've had since May for .0075.
--------------------------------------------------------------
the $pike Fri 18 June telegraphs where PPS going, IMHO

http://finance.yahoo.com/q/bc?s=PCCL.OB&t=5d

--------------------------------------------------------------
Last news after close Wed.

Pacel Corp. Demands Immediate Delisting From Berlin Stock
Exchange Wednesday June 23, 4:05 pm ET

http://biz.yahoo.com/prnews/040623/clw064_1.html

http://tinyurl.com/3ghf4

ALL FROM A MERE P R SAYING "TAKE OUR TARGET OUT OF THE SHOOTING GALLERY" !!!

MAYBE THE BEST THING FOR THE AMERICAN MARKETS WOULD BE TO DE-LIST ALL AMERICAN STOCKS FROM THE BERLIN EXCHANGE, HUH?

OF COURSE GERMANY GONNA LET THE CROOKS DRIVE AMERICA DOWN IF THEY CAN, THAT'S A NO BRAINER

THIS IS AN OBVIOUS SOLUTION TO A MAJOR PROBLEM, WIDER IN SCOPE THAN THE STOCKGATE EXPOSE IMHO

-------------------------------------------------------------
POSTS FROM Bullishpennystocks Yahoo Group lasr Friday:

From: "bk12logic" <dell662@e...> @ bullishpennystocks yahoo group
Date: Fri Jun 25, 2004 4:39 pm
Subject: RE: club members are you in PCCL

gap got filled, which ever way it goes from here, mkt cap should
be .03 to .05 with such low O/S recent rev and cash for acq and
exhausted selling before gap ,cash buy won't dilute unless there is
something hidden ,2.5 mil cash if it doesn't continue up i'm selling:
just kept because it passed yesterdays high and low o/s, if 27 mil
were O/S .01 is $270,000 for example ,cap should be a million or
more in my opinion consevatively ,it just got in the spot light ,bibo
ran from .006 to .03 on 20mil O/S ,low O/S have huge swings

http://finance.groups.yahoo.com/group/bullishpennystocks/message/7639
---------------------------------------------------------------
From: anthony kingsbury <y2kings4us@y...>
Date: Fri Jun 25, 2004 7:03 pm
Subject: Re: [bullishpennystocks] club members are you in PCCL.....

I think we are just seeing the beginning of this one. almost 300
mil. shrs. traded today. Nite went on the bid in the last part of
trading trying to gobble up as many share as he could, possible
gapper on monday...and then off to the races.

Matt <[e-mail]> wrote:
Yes I got in at .0064

http://finance.groups.yahoo.com/group/bullishpennystocks/message/7645
----------------------------------------------------------------
y2kings4us <[e-mail]> wrote:
this stock is runnin hard today... news coming of possible merger.

http://finance.groups.yahoo.com/group/bullishpennystocks/message/7614

----------------------------------------------------------------

http://finance.groups.yahoo.com/group/shortsharks/message/10835

[DCschmoeka]

whens the next r/s?