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Just posting here once, at the Pro Traders Forum, fyi
Oh, cool. L2. Thanks!
SCPT .0024/.0025
Bid 2.6mil available .0023
Ask 175k
moving quickly now .0025's
Awww man...can't read it. Copy/Paste please? Thanks!
SCPT whogoosedthemoose? :) http://investorshub.advfn.com/boards/msgsearch.aspx?searchstr=scpt
FWIW (and that's not much), called Eckert today. He did confirm there is an open inquiry, but wouldn't provide any other information. Didn't expect much - his response was consistent with what you get from the state or federal SECs regarding any inquiry or investigation into a company. He did state that there should be something made public in the near future (whatever the near future means).
This stock is a poster child of the corruption in the pink sheet stock world.
My name is Robert Eckert. I'm a Special Investigator with the Securities Division of the Arizona Corporation Commission. If you've invested in Motion DNA, Corp., Motion DNA, Inc., or any other related entity or have any information regarding Larry W. Ziegler (a/k/a Zig Ziegler), please contact me at (602) 542-0539 or email me at Reckert@azcc.gov.
Thank You
I'm not sure there is one, but if there is, there would be a lot of traffic at that website!
Carl Icahn wanted to buy Lear (lea) for 37.50. Shareholders refused, now 1.40.
Does anyone have a link to where I can file a suit to get my money back from the failed buy-out?
SCPT
MTDX
MTDN
MOTD
Thanks!
I wonder if he will try to use this POS shell
I think he's planning a comeback.
www.motiondnaonline.com/about.html
"The founders of the company have acquired the exclusive rights to develop Motion DNA testing, the world's first commercially marketable technology for analyzing movement without markers in a non-lab setting. The patented technology gives the company a significant competitive edge in the market for several years to come. Because the company's technology encompasses internally developed software and off the shelf video cameras, Future Films products are also affordable in a market where the costs of current products by competitors are extremely high.
The company's current plan will focus Future Films, Inc. on core markets and applications where the company's talent, technology and knowledge are the most efficient and effective. Based on company expertise and current products, the company has focused on four major market areas to provide products and services:"
Zig founded Future Films inc.
This is still on the web:
http://www.agoracom.com/executive/MotionDNA-Dec2/player.html
Few pinks have any credibility anymore. Most of them are a bunch of day traders playing musical chairs.
Actually it is RISK REWARD and Due Dilligence. Tempered with an anxiety attack.
Chucka Big Mac
After my study of pink sheet stocks, I cannot figure why any INFORMED person would buy any of them (except maybe for fun, such as a slot machine).
Look at DRGV.PK suppost to be profitable and growing and trading at .01!, and there is PBLS.PK http://biz.yahoo.com/iw/071101/0322902.html
They are just "greater fool theory stocks" or "musical chairs".
Should not be allowed to trade to the general public.
Read edit:not for me the gal that ran the co to the ground lied to me 9 months ago...about news and deal soon...but that NO RS would happen is a fact BUT I just tried to call her # altel message #53
http://www.pinksheets.com/quote/company_profile.jsp?symbol=SCPT
CONTACT: Sports Concepts, Inc.
Michelle Thomas (CEO)
(480) 202-4641
Fax: (480) 391-0209
""NOT A WORKING NUMBER""
PS - are shells at .001 the best we can coem up with:
SSPE is a new one at .007 orso I LIKE BOOKMARK SSPE Board there and Talk TO ME on cool stuff
http://investorshub.advfn.com/boards/board.asp?board_id=8663
hmmm. .0001 could it be worth buying, so when this shell is resurrected, every .0001 or .0002 bags 100% ?
hmmm. is that a sporting concept ?
I have lost alot of money on this stock. Is there anything going on about getting out money back?
So we have a "company" that was valued at 70M, in a supposed buyout offer now selling for a fraction of a penny.
My my, where did all the money go? Did it just disappear, or was it ever even there?? And no news, nothing for months.
I can see why nobody beleives in "pinks"anymore, see http://biz.yahoo.com/iw/071101/0322902.html
Looks like this pile of stinking garbage doesn't trade much anymore.
I wonder why Jamir Miller doesn't come up with another "buy out"
offer, at these "fire sale" prices.
WOW, you mean this "big shareholder" who would not vote for the 2.12 buyout now has a stock worth .001.
And the SEC allow stuff like this to go on, what a shame.
The letter I have does not say too much. Just they are trying to recover restitution for those like myself who lost a lot of money on this stock from the false and misleading PR's for the full amount of the losses as determined by the court. So I will hopefully get their wages garnished:)
There is of course saquella, medlin and kaplan being charged...
Example of one of the promises. Just how much effort went into this "intention"? Did Zig turn down or not follow though on "intentions". Was the "demand" fabricated? You be the judge by how Motion DNA sits right now.
SCOTTSDALE, Ariz. -- Motion DNA Corporation (OTC:MTDN) announced its intention to launch its franchise program six months ahead of schedule. "Demand from potential franchisees is driving our decision," said Zig Ziegler, President of Motion DNA. "This is a way to expedite our deployment plan. We already have a great prototype facility with a good patient base and a solid business model. This is a natural move for a young company, with consumers and shareholders clamoring for more availability of our technology."
According to the company, franchisees will be assigned territories which include the exclusive rights to service collegiate and professional teams in their areas. While the company hoped to launch a franchise program late in the second quarter 2005, all of the necessary filings are near complete and the first group of franchisees may be assigned as early as the first quarter of 2005. Earlier this year, the company launched a comprehensive research program for high school athletes. Franchisees will be expected to help deliver services to participants at all levels.
"Franchising will allow us to expand without increasing our expenses," added Ziegler. "Most of our shareholders have been interested in how we plan to sustain growth, control quality, and maintain financial stability. Franchising has been our plan from the start of our deployment."
While expected franchise fees have not yet been set, average franchise fees range from $25,000 to $50,000 per franchise and may include royalty payments to the franchisor. Motion DNA's deployment plans call for over 100 locations by the end of the 2005. Some locations are expected to be corporate owned. However, due to the early launch of the franchise program, a larger number of next years locations may now be up for sale.
Are you a victim yourself? or are you just one of Zig's cronies or perhaps Zig himself?
Tell us since you know so much just how hard did Zig try to make this company enter the market place like his many press release promises?
Did he take all offers for the company products and services or did his big ego get in the way of that?
I have to agree here Zig Ziegler had a responsibility to the shareholders. He was either incompetent or compliant with the share printing press scam.
Here is my opinion as a long term shareholder and follower of the company.
Zig Ziegler faults:
1. He did not follow though on any business plans. Ever.
2. He never followed though on franchising.
3. He made very futile and pathetic attempts to sell the systems.
4. The system was not unique but rather from his previous employment. He did not disclose this.
5. He did not provide accurate information as to the actual funding of the company.
6. He or his investment banking specialists made the company into a printing press of shares and did not accurately disclose the share counts.
7. He made no attempts to protect shareholders of his company.
8. He made lots of promises and it appears there is no evidence of the intent to follow though on any of them.
9. He acted like an ego-maniacal jerk the whole time the scam was being pulled of right under his nose.
10. He made little attempt to provide correct audited reporting.
IMO, He is just as guilty as the convicted felons he aided either through incompetence or complacency. I hope he gets axactly what he deserves.
Tegrity:
My Gawd you have a lot of time on your hands!
If you are in business with Zig, I guess that's what you can do all day...instead of actually producing an ROI for yourself or anyone else.
My, oh my...the race card and baseless nonsense all in one penning! You are a waste of space and everyone’s time here – or you are a family member of his in order to go anywhere near this con with your money. If you really are legit, you should run not walk from him.
How dare you call me a racist...how dare you! I'm offended that you would insinuate that I would attack an elderly Jewish gentleman who makes his living off of sales training books and doing seminars...oh, are we talking about the same Zig? Where am I? Am I on the right board?
You probably didn't get that whole paragraph above...but others will (and I'm damn funny)...I couldn't care less if Ziggy was purple...he is a con no matter his race, religion or color. You don't need to live in Arizona to read Zig's own press releases...recorded interviews telling wild tales of partnerships and sales success...statements at trade shows...etc, infinitum.
My mom always told me to say something nice about someone – Okay, Ziggy has a really nice speaking voice and is quite articulate.
I found the other comments in reply to your nonsense (about the moderator of this board allowing me to post) funny. I think back to the days my posting of facts and documents on MTDX were mysteriously deleted by the “moderator” without explanation…the same moderator who ended up discovered as a pumper and dumper after we reported him to the board owners…remember that?
Those who have been around for awhile know that I lost very little personally to this con. Ziggy was brought to my attention by someone about to invest in the second 2004-2005 con-wave...and I'm very proud to say that I did my part to help end this fraud by contacting friends in Phoenix, doing some basic research and posting FACTS - likely saving a number of marks from getting taken.
Stop defending this useless piece of trash and move on...you seem to know the "man" so well...why not invite Ziggy to come on these boards and defend himself by providing all of those scammed with actual evidence that he was just some dumb pawn/mark instead of a knowing con-artiste on par with Picasso. If, according to your tales and version of events, Zig really was taken advantage that many times in one lifetime - why on Earth would you do business with such a zero?
People here are posting in order to ensure others to steer clear of Zig (or JZZ or whatever he calls himself today). They will never get their money back...all they can do is take pleasure in making sure the only executive management question Ziggy will ask in his future will be "Do you want fries with that?"
Looks to me like Ziggy is one lucky/smart/calculating SOB – He’s the one still with his freedom while his counterparts will have their dance cards full with dates with Bubba and the boys behind bars for years.
Well, back to the compound to continue my translation of The Turner Diaries into Korean. Oh, can't forget to clean my special sheet for the cross burning later this week.
Peace, my brother.
-All comments "In my Opinion"
integrity, don't take what I said so literal. It appears you are a person of reasonable knowledge when it comes to investing. When I stated people trusted him with their money, that is of course implied within the context of the CEO's responsibility to the company and SHAREHOLDERS of the company.
I fully understand that Zig may have been duped...may have been scammed...may have been lied to. Of course I purchased my shares on the open market,I purchased my shares based on information that came from the COMPANY AND CEO. Now, any information coming from those sources is ultimately accountable at the CEO level.
I haven't bad-mouthed the guy because I really don't know the extent of his involvement/knowledge of the scam/lies. I do know that I took a calculated risk in this company based on the information Zig is ultimately accountable for.
You back him up rather aggressively and I have to wonder why. You've not posted a single piece of VERIFIABLE data that shows him to be 100% clean in this. If he is culpable in any way, then he is guilty...simple as that.
That level of guilt may be based on his intelligence level as not knowing he was being scammed, but even so, as the CEO...CEO...CEO...it is his RESPONSIBILITY to make every reasonable effort to seek out potential harmful activity.
I will not say he is guilty....I will not say he is innocent. I will say he doesn't appear to be doing whats needed to help the shareholders, and that is not the sign of a good CEO.
The most important things he should have been doing
document and verify.
document and verify.
document and verify.
My $$$ investment risk in this one was relatively small to me, and I'm not going to lose sleep over it. I will however hold my shares and watch.
Financial gain is the primary reason anyone invests in a company. I've been investing for a good many years, and have yet to meet a single person that invests in any company without the intent to some degree of making a profit. To say people are concerned merely with making a profit, and not concerned about the illegal activities that plague the financial world, is quite irresponsible.
Also, I've never called or attempted to contact ANYONE involved with Zig or the company in any way. I knew the risk when I purchased shares...at least I knew the risk based on the information put out by Zig and the company. You seem to be rather close to him...maybe you could pass along the feelings of at least some of the people that put money in this.
We would like to see him do what's right for the company/shareholders.
I will ignore the other posts as the rantings of people who are really emotionally and logically unavailable for now However Dallas, it sounded like you were logical, but a little misinformed as well.
You said, "People trusted him with their money..." Did you or those people you are referring to write a check to Zig or the company or did you buy stock in the open market? If you purchased shares for the company in the open, you are not trusting him with your money. He never sees a dime of money from the market.
In reality, we are buying stock from brokers or other people who own stock and both us and the brokers (others) are trying to make a buck off of his efforts (using him in fact for our own benefit). And the reason why people are here ranting about him cheating and being unethical is because some people did make money (and yes some people who bought stock in the open market made money) and others didn't. If you bought low and sold high there wouldn't be an issue.
But since some people here bought high and sold low, they are blaming the guy for their poor timing. I am not insulting you or saying he is not responsible for some of the claims he made if they weren't true, but you are all here complaining because you didn't make money off of him. Is that hypocritical or what?
So while you're saying he used you....didn't you try to use him and because you didn't have success, you have to blame someone?
I know for a fact that he was out there chasing larger contracts instead of slowly growing his business because he wanted so desperately to make up for the dumping Saquella was doing.
All the while he was working desperately to try to help increase share value. And couldn't understand why so many people were selling. Later he probably figured out that some thing was wrong. He wasn't blatantly pumping up the stock, he was trying to keep everyone informed and it backfired on him.
He even agreed to the deal with Vic and Michelle because they misled him into believing at the time of the signing that they had a license with the NBA and later found out they didn't. And they beat him to the punch putting out a press release saying the deal was breached and invalid. When in reality they were the ones who were not honest with him.
Whether he was right or wrong, we are all adults and you know that the stock market is a lot riskier and potentially more profitable than buying a 4% CD at your local bank. You were looking for the quick payday and didn't get it. All he was looking for was investors, employees and customers so he could take his product out and help people. Some of you jeopardized that with your efforts of calling customers, prospects and post here just because you thought his product and his efforts weren't real.
I hope you all get what you want which sounds like it's really not justice, its financial gain. And as I read some of your posts in other forums, sounds like a few of the posters here complain alot about other companies too. So either you have nothing better to do or complaining makes you happy. But it also sounds like some people here have a history of investing in highly volatile stocks.
Maybe some people here are addicted to the risk, I don't know but its time to let go of the bashing and see what these guys can do. Get out of the company's way if you want financial gain, if you want revenge, go read the bible. Its full of people who made mistakses and is all about forgiveness.
Integrity:
Here is the link of the SEC complaint against Saquella. The Motion DNA section begins on page 19 and ends on page 21.
http://www.sec.gov/litigation/complaints/2007/comp20269.pdf
Please look at paragraph 83 on page 21.
What date do you notice that the SEC has isolated it's complaint against Saquella related to Motion DNA?
Through May 13, 2004, correct?
Please show me anything from the SEC that extends Saquella's illegal activity with Motion DNA past May 13, 2004.
You can't, can you?
Until you can, I will maintain the opinion that EVERYTHING illegal regarding Motion DNA after that date (and yes, that includes everything related to Jamir Miller and the fake buyout in '05) falls directly on Zig.
You should have integrity concerns if you still believe in Zig.
Regards.
cepe, those dates you mention (Nov. 2003 to May 2006) are clearly not relating to Motion DNA. Were those dates mentioned encompassing all of the Saquella scams?
Please clarify. Thanks a bunch.
integrity, there are a few problems with what you've said here. First, Avdave and Zigfraud can say what they want if the mods/admins allow it. Secondly, how can they run someone off from here? Neither are the mod or admin of this website, so they have no ability to do anything other than post their views/opinions. They could be true...could be false....doesn't really matter if you are confident in your own ability to find the truth.
You stated the following: "especially since some people here are contacting Zig's new employers and other people and companies trying to do business with him making claims that this board shows where he is a criminal."
First, this message board is NOT a court of law. If anyone takes seriously items posted on this or any other message board...they deserve the rewards they receive. This is a MESSAGE BOARD. People post opinions...lies...truths...and everything in between. That is all there is to it. If one chooses to trust and believe what is posted on them, they get what they work for. Secondly, how would you know people from THIS board is doing the things you've suggested. Your comments are no more credible than theirs.
All the proof is in the SEC filings...court documents....PR's....financial documents....those are the things that need to be looked at.
I think the main point most people have is that the CEO is responsible....secondly, the CEO is accountable, and thirdly, the CEO has an obligation irregardless of them being scammed to make every effort to restore shareholder value/monies.
Is this what Zig is doing? People trusted him with their money.....scammed or not.....that is the bottom line.
Integrity: "chase people away with their threats"
JP,
Please provide 1 single instance where I have threatened someone. Just 1. Not multiple, as the plural would indicate, just 1. Too difficult?
Regards.
Dallas,
I agree 100% with you. However, if a person gets legal advice from someone who is in on the scam, who should that person trust, the legal advice or their feelings. And where does the responsibility shift to a person who is supposed to be giving advice that makes the CEO do things that the CEO believes are correct based on what he or she believes is sound advice?
I am not saying someone is "not responsible", but I think some people who are posting here sound like they aren't investors who lost money but instead people who are using this board as a personal sounding board for their attacks on an individual. Perhaps someone who is a competitor, jaded former employee, former partner, or even someone from AMM or JZZ whom Zig chose to leave because of their desire to affiliate themselves with a convicted felon John D'Aguisto. At least one person here sounds like they used to work for the company and feel the need to bash the person because of their own peronal losses. Maybe they wanted to be a part of Zig's project and couldn't because they didn't do their job.
I believe the truth will all come out and in time, Zig will either be good or bad. But this is not the AvDave/Zigfraud board where they can chase people away with their threats and scare tactics. I even found myself falling victim to their tactics and resorted to the same. I am just looking for some insight, especially since some people here are contacting Zig's new employers and other people and companies trying to do business with him making claims that this board shows where he is a criminal. I am doing business with him and I just don't see where he is a malicious character. I have had nothing but positive experiences with him and he seems very contrite about mistakes he has made trusting people. I might be one of those people who have been contacted but regardless I am tired of the crap. And I am just looking for proof instead of some jaded lovers opinion. Where are the facts...because the only facts i see are that the SEC charged and convicted Saquella and others for the scam they pulled on the company. So I am looking for others out there who have had positive experiences with Zig. And I am finding lots more than the few posters here who seem set on vengence for whatever reason. So the guy has a tendancy to take on too many projects and as a result some fail. That doesn't make him a malicious character, does it. Sounds like he's overwhelmed.
(lack of)integrity:
"the burden of proof will be on you to prove that your "statements are true" by that I am referring to your name calling and personal attacks."
I take it that by the above statement you wrote you are somewhat aware of where the onus lies to defend the statement "Racist poster Zigfraud"
Good Luck To You
integrity, No matter if you feel he is innocent or guilty, the BOTTOM LINE is he was the CEO....it is/was ultimately his responsibility to ensure everything was above board, and if not...to fix the problem. As the CEO of ANY company, that person by default takes ownership of everything good and bad. They are the end responsibility. Right or wrong, that is how it works. He is responsible for what has happened, and he is accountable for the consequences. If he can help resolve the issues and prove he is not culpable, thats great...but part of that responsibility he holds is shareholder losses.
Zigfraud (SC-bitterbeerface),
I read some of your posts. You are one of the racists posters here who obviously lacks integrity and chose to use name calling probably just jealous that this young african-american guy was smarter than you. You must be from Texas. And I am sure you don't know Zig but its easy for you to say that you do since you don't have to prove it. Zifraud could be one of those Arizona softball coaches who has sex with his 17 year old players. I'm not saying you are, but I'm just saying you could be. I would never slander you, but if I knew your name I am sure I could dig up a few people who would have some juicy stuff to say about you.
And I did check on the claim against him. I found out that zig signed a lease because the landlord told him the health club had 3,000 members and it didn't. All the memberships had been sold and the owner new it. I guess the guy has bad luck, and sucks running a business. But that's no reason to assume he is a bad person, just had bad luck trying to make something work and surrounded himself with people who could't help him.
So how do you know Zig and where have you been around him? Are you one of those people he fired for lack of productivity? Prove it. you don't have to identify yourself, just let us know some place you might have even run into him. you can't because its not true, so now who's the liar?
I am sure you don't know of any employees who were not paid, or do you? If so, share.
And in response to AvDave: if Zig sues you for slander, the burden of proof will be on you to prove that your "statements are true" by that I am referring to your name calling and personal attacks. You made many statements that may or may not be true. but the bottom line is that they better be true.
Both of you are obviously not sophisticated or smart enough to know when your time has come. Or maybe you are the same person under two aliases. Those of us who seriously want to see the "technology" work like whatever was mentioned on channel 12 sounds like it would help somebody possibly even you lose a few pounds and get healthy. I just want the technology to get a chance. "Racist poster Zigfraud", I cannot associate with you because God created all people equal and he also said forgive, you obviously lack solid Christian beliefs to go along with your racist position.
But I'm sure you're perfect and never made a mistake or trusted the wrong people. I guess we have to assume you are an insider though and apparently know something the rest of us don't. Can you send your proof to me? So I can be enlightened too.
And don't think that since there are two of you big bullies that I will go away because you are ganging up on me. I wish I could get you guys on a call with Zig and confront him if you have such ammunition. And i would love to just sit and watch or listen.
I'm sure you're afraid to be in the same room with him and say all these things to his face. Not because he's violent, but because you don't have proof and cowards like to hide behind anonymous letters and postings. And you are cowards but you get to look smart as if you have some knowledge the rest of us don't. Smart people won't even pay attention to your posts as anything other than jealous bitter ex-girlfriends or cancelled prom dates of a guy just trying to make it.
So as a result, I have said my peace and I will go away happy that I have defended a man with a vision who can help change lives in a good way. Not because two rednecks with no morals or guts made unfounded remarks. I have better things to do that listen to you.
You can have your board back, but I think it should be named AvDAve/Zigfraud Fool's postings.
So now you are saying the Miller offer was legitimate? Now it's just obvious you are a plant.
TIA = Thanks In Advance.
GLTY
Hey "integrity":
I HAVE met Zig. I HAVE been around Zig. I have witnessed the man and watched him over the years on several occasions...I also know at least a dozen people who live in Arizona who have been around the "man." Not competitors. Not ex-employees...people. People who entrusted this idiot with their money and even their children.
I haven't been around these boards in a while...ever since several of us (some who you berated) uncovered this slime ball for what he is and helped end the Miller scam. A friend just wrote me that channel 12 in Phoenix tonight did a small segment on a company using "Motion DNA Technology" to help little old ladies define a weight-loss programs - I assume through the latest scam of JZZ. My goodness, won't this really just finally die? In "die," I mean Ziggy getting his due like the rest of these criminals.
By the way, this is "only my opinion"...so you can take your "slander" threats and shove it. Ziggy is a big boy. Let him file against all of us...we'll gladly counter-sue and force his butt to prove his "victim" status in court.
This good/caring "victim" whom you speak of:
1. Throws temper tantrums as coach at girl's softball games. Cursing up a storm and making parents cover their daughter’s ears.
2. Lies to investors, customers, anyone - again and again. The man is a serial liar - a simple Google search of his very own postings underlines the depth that Ziggy has gone to.
3. Skip on leases. Skip on vendor bills. Leave employees unpaid and other naive small business operators out in the cold. Go see the lawsuits filed in AZ as proof.
4. Continues to commit scams. How many ticker symbols can someone sandbag or proudly represent as their "Founder/CEO" in 5 years? I think Ziggy is the world record holder.
Fool me once - shame on you. Fool me twice - shame on me. If you believe this saying, then Zig is no fool, he is no victim...he is either the world's greatest mark or a seasoned wolf/scam artist. You either have to be very naive, Zig himself, Zig's legal counsel, or a relative of Ziggy if you truly continue to promote the former to the rest of us.
Just like we told those scammers and Zig apologists in 2005 - just shut up and go away...and take Ziggy (with an SEC lifetime ban tattooed on his bald skull) with you.
Out.
Remember – IMHO!
According to public records, Zig has lost a lot as a result of the fraud by Saquella and attorneys who misled him. The press releaseds were not false or misleading. From what I hear, all were true and reflected the efforts and position of the company at the time of their release. I am sure Zig is kicking himself for not taking the deal from Miller.
I don't know but I assume T Edward Martens was following the advice of the same attorneys who duped Zig. It appears zig is not a good business person and gets taken advantage of. I am sure he has learned to trust people less and get several opinions before doing deals. But as I aksed, just support your slanderous statements with more than just your opinions.
Maybe he was wrong and the leader, but without proof your statements are damning. If I were Zig, I would come after you and others who try to make statements and support their opinions with this website for making him look like a criminal as opposed to just being stupid for trusting people. LOL. Of course, now he's probably lost everything and trying to rebuild including his reputation. So I don't think he can afford to sue anyone.
Sorry, what is TIA?
You may be correct, I was going by memory seeing Zig's name on documents filed. Zig's name is typed in as the person/officer responsible for the information contianed in those documents, but the signature line is indeed left blank on the multiple iterations of 15c2-11 documents filed for Motion DNA.
Has Zig filed suit against those that affixed his name to those documents without his consent?
Has T Edward Martens done the same for the same people who did the same to him regarding Innovisionix?
You would think if Zig was a victim, he would have had ample time to seek remedy to right the wrongs done to him, no?
Was Zig not aware of the many Press Releases that were issued that were known to him to be false and misleading? And he did how much to stop it?
Which side of the victim ledger was Jamir Miller - innocently duped along with Zig, or an accomplice to Saquella?
Did he or did he not have voting control of the shares held by PPEG? How did those shares vote for the $3.125 per share buyout offer?
I will agree with you that Zig did not initiate the fraud, but suggesting that he is an innocent victim just does not pass the common sense test - please provide insight as to why you believe it is so.
TIA
AvDave,
Is that a statement of fact? If not, it is slander. Please provide a copy of the document? Are you aware that Zig was "following the advice of an attorney" who was also convicted and another who has since disappeared?
I haven't seen this fraudulent document you are referring to in your post. Can you supply it?
Also, if you have audio tapes of Zig and his team planning this elaborate scam, share those too so we can all benefit from your insight.
You see, I believe Zig made the mistake of trusting the wrong people. If you have ever met him, you would see that he is a genuine person who wants to help people.
I belive that someday he will make something of his idea and dreams and help millions of people with one act of random kindness at a time. And hopefully, he will make up for his mistakes of trusting the wrong people. Sometimes a person can want their dream so bad that when people come along offering to help, you focus more on the help than who is helping.
Zig was introduced to Saquella (who went by the name Paloma which was a lie). Saquella told Zig he wanted to invest in his company and Zig accepted. If you have ever started a business and needed investors, you would understand this. The attorney, transfer agent, probably many others were involved in this scam. So its pretty clear that Zig and his crew were victims.
This was an elaborate scam in which we all lost money, time, trust, and more.
Obviously you are hurting, but you should be directing your venom at the right people. After the convictions were announced in this case, I had to take a closer look at who the players were. They had been doing this for years. Meanwhile, Zig was out there helping many kids, parents and others by changing their lives with his philosophy.
So AvDave, pony up the proof, not your opinion if you are going to continue to slander a good man who got involved with the wrong people. I just want to see people benefit from this guy's work. He was on the right track until he got sucked into the Stocker/Saquella trap. Let's see what happens.
Did you know that individuals who maliciously attack public and private individuals in forums can slapped with a lawsuit for slander and defamation. We might think we are protected and can say whatever we want inside this forum because this is a public forum, but we are not.
Remember, a newspaper can be sued too for printing false, libelous, and slanderous statements and so can we. If our efforts have caused Zig to lose business, clients, or investors, he just might have a case against any of us and a big one at that.
All he has to do is have one person say they would have done business with him if it weren't for comments and there you have it, a lawsuit that he will win and take our homes, cars, probably even our first born. I don't think he can sue the forum, but he can sue the posters in the forum.
If he were a scammer, he would have moved on to another venue, but he is still out there, probably embarrassed that he got involved with the wrong people, but still there. And from what I am seeing getting some pretty good people and companies involved. He even tried to get Sports Concepts involved because they told him they could get him into the NBA. They told him they had an NBA license (another lie).
The guy is just too trusting. And in this public environment full of wolves, he is a victim waiting to be pounced on unless he can get surrounded by people who will protect him. I hear he is surrounding himself with a solid management team, including good law firm. And he will focus on staying away from running the business and instead focus on using the technology.
We are a country full of people who have been given second chances. Before you continue to slander him, let's see what's around the corner. And if he does make something of this, without the pressure of the people who scammed him, then good for him!
When your signature is on fraudulent documents submitted to the SEC (as Zig's was) you are not a victim. At best an accomplice, but still a criminal.
While I understand that many of you may or may not have lost money in the company as a result of Saquella's actions. The SEC has ruled that Saquella was the snake and that Zig and the company were victims. Are you really people who lost money in the company or are you competitors who are trying to keep this alive to hurt the company which has a great product. "The company was a "VICTIM!" just like you.
While you are all entitled to freedom of speech, "Slander and libel" are not rights you have. This is a great website where people can hide behind aliases and bash anyone but some of you have crossed the line and caused the business undo financial pain. I hope that someday you too get what is coming to you for your posts slamming an honest man who has only been trying to make an honest living and got taken advantage of by a crook who now is going to jail.
I know that even people from JZZ Technologies using aliases have posted here saying how bad their former company was even though they were right there beside Zig as he was getting duped by Saquella. They have been using this website as a place to send their potential customers who might also prefer to do business with Zig.
If you really lost money and have proof that Zig and the company were anything other than victims, file a lawsuit. Otherwise, give it a rest. Unless you are competitors or bitter former employees with ulterior motives, find a new law to break.
There were several real companies who Saquella also victimized. And just like Zig they are still out there trying to realize their dreams. So give it a rest and let the guy make up for the mistake of getting screwed over.
The letter I got states Nov. 2003 to May 2006 for the schemes.
I'm not sure if they just did not list the other split tickers...
Zig seems to dumb to accomplish the totality of the fraud.
That's a good start, but Sequella did this in early '04. The next 2 ticker symbols and subsequent pump and dumps were all Zig and his cronies. Teach a man to fish, and he can eat for life. He should get his next, IMO.
GLTY
SEC charges Saquella in $3-million (U.S.) pump-and-dump
U.S. Securities and Exchange Commission (C:*SEC)
Monday September 10 2007 - Street Wire
by Mike Caswell
The U.S. Securities and Exchange Commission has filed civil fraud charges against Michael Saquella, 47, for a $3-million pump-and-dump that included Canadian brokerage Research Capital Corp. as an unwitting conduit. Prosecutors say Mr. Saquella, a recidivist securities violator from Mesa, Ariz., manipulated seven pink sheets stocks over four years. (All figures are in U.S. dollars.)
The SEC suit parallels a criminal case against Mr. Saquella. On Thursday, Sept. 6, Department of Justice prosecutors announced they have charged Mr. Saquella and three others with conspiracy to commit securities fraud and mail fraud.
Mr. Saquella has pled guilty to the criminal charges and has agreed to pay $2.5-million to settle the SEC case.
SEC files suit
The SEC's 26-page complaint names as defendants Mr. Saquella, aka Michael Paloma, and Lawrence Kaplan, 63, a broker from Arizona. Since 2002, Mr. Saquella has orchestrated unlawful public offerings of at least seven companies.
To facilitate his schemes, Mr. Saquella surreptitiously gained control of privately held companies by promising their principals he could provide them with hundreds of thousands of dollars in financing.
Once he gained control, he listed the companies on the pink sheets. To help his scheme he enlisted the help of Mr. Kaplan, who executed wash sales and matched orders to artificially inflate each company.
Once he established an artificial appearance of market activity, Mr. Saquella arranged for fax and e-mail spam campaigns touting the stocks. "Ultimately, Saquella and Kaplan profited by dumping stock of the new issuers into the market at the artificially inflated prices," the complaint reads.
Then they stopped trading, and the stocks plunged. "Public investors who bought shares based upon the artificial appearance of an active market ... were left holding virtually worthless securities."
Seven companies
The SEC identifies seven companies Mr. Kaplan pumped. They are Courtside Products Inc. of Spokane, Wash., Latin Heat Entertainment Inc. of West Covina, Calif., Xtreme Technologies Inc. of Spokane, Wash., PokerBook Gaming Corp. of Hollywood, Fla., Motion DNA Corp. of Scottsdale, Ariz., TKO Holdings Inc. of Pompano Beach, Fla., and Commanche Properties Inc. of Tucson, Ariz.
With each company, Mr. Saquella entered into a standard agreement in which he would arrange for the company to be quoted on the pink sheets and he would arrange a financing of up to $1-million. The SEC says he concealed important facts, "including his intent to conduct an unlawful public distribution of the company's shares and then manipulate the market for those shares."
To facilitate the scheme, Mr. Saquella hired California lawyer Kenneth Christinson to draft opinion letters. The letters made it possible for Mr. Saquella to obtain shares free of restrictive legends.
He had the companies issue shares to various entities he controlled. He told the principals that the shares were going to investors or underwriters.
Next, he transferred hundreds of thousands of shares, typically at no cost, to Mr. Kaplan, who in turn contacted brokers and had them place limit orders for the companies at a set price.
Creating news
With the artificial trading giving the illusion of an active market, Mr. Saquella needed to "induce unsuspecting investors to buy the shares." To accomplish this, he hired an investor relations firm to report purportedly newsworthy events.
For example, Latin Heat, a purported publishing company, issued a news release at Mr. Saquella's request announcing that it had "initiated discussions with the largest publisher in Latin America for possible alliance [sic]."
At the same time, Mr. Saquella hired spammers to tout the stocks The junk mailers sent out the typical rubbish found in such communications. "New Hot Stock Pick!!!:Hispanic Market BOOMS," read the title of an e-mail touting Latin Heat.
After the promotional campaign was under way, Mr. Saquella and Mr. Kaplan dumped their shares. The SEC says Mr. Kaplan made $205,886 and Mr. Paloma made $91,736 from Latin Heat transactions.
Motion DNA
Another company Mr. Saquella dumped was Motion DNA Corp., a provider of diagnostic testing for medical professionals and sports organizations. On Jan. 27, 2004, Motion DNA issued 10 million shares to two Saquella-controlled entities. The shares were issued without a restrictive legend.
Three days later, Mr. Saquella began a series of wash trades, which he ran partly through Research Capital. The SEC says Saquella-controlled entities were at both sides of transactions designed to create an artificial market.
The SEC says trading by Mr. Kaplan and Mr. Saquella represented 98 per cent of Motion DNA's volume on Jan. 30, 2004. The regulator does not mention all the brokerages used; it names only Research and Secure Trading.
Over the next four months, Mr. Saquella co-ordinated a spam campaign that predicted the company would have annual revenue of $18.38-million by 2006, and assigned it a 10-day target price of $2.04.
The SEC says he sold at least 1,775,000 shares, for proceeds of $473,499.
US vs M. Saquella Medlin and Kaplan securities fraud conviction on MOTD and a few others 72 month prison time for Saquella and resitution TBD... US dept. of justice eastern district of VA
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