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They are done! Next up is the attorney letter and pink current.
It'll happen. They haven't been able to move the number shares they want due to no bid support.
Another TA update today and no OS change again. Tomorrow makes it 2 weeks. I guess that they want investors to be very clear that there is no more dilution happening and they are updating daily to hammer home that point.
For the most part, that money was already owed to the Plaintiff when Third Bench took out the short term loan. The company violated terms of the repayment to the Plaintiff and stopped paying.
The fact that no one involved in Third Bench thinks this is material enough to be disclosed is another failure of management.
David Fair and Melissa Handley lost their New York court case and owe $129,000
https://trellis.law/doc/192239184/judgment
I have and it was interesting reading up on Rees and his laundry list of businesses although all are shuttered except Okane according to the Utah SOS. I have not found anything concrete regarding what assets Melissa contributed to the company in exchange for her preferred shares.
I was a customer at that video rental store years ago when I lived at the top of the hill in Bountiful by Mueller Park. 2600 West is the main street that people drive up to get to the residences higher on the hill so I passed the store on my commute from SLC. I was one of the only non Mormons in Bountiful so I didn't fit in well. I hiked to the Elephant rock in the summer and we watched videos evenings and i relocated as my career permitted. I feel like I recognize her photo but it doesn't make sense related to the video store because it was still owned by the previous owners when I lived in Bountiful.
So you knew nothing about Rees before you dumped some money in this stock? Google his name and you’ll find that he was involved in a penny stock promotion about a decade ago and he was barred from being involved in future public companies. His name is all over the creation of the Third Bench LLC . Why do you think he is listed as a defendant in most of the lawsuits involving the company?
I don’t know Handley from a hole in the wall but you can also find out she has kids with disabilities. Was she conned by Rees as well (misrepresented his past)? Don’t know, don’t care. IMO, she is just a silent partner so her boyfriend can evade the SEC. Unfortunately she will suffer the same fate as Rees, who hopefully won’t leave her holding his bags. Love is blind sometimes.
Transfer agent daily update today. No change in OS since early last week. The rumors of continuing dilution are wildly overstated.
Melissa is on the insider 5% ownership list. She and Fair contributed assets and each got a big basket of preferred stock as compensation. She must have owned her asset to contribute it. I want to know what she contributed to the company to deserve that big basket of preferred shares. Was she an owner of Third Bench when it was a private company or did she contribute something else yet to be revealed? It happened concurrently with David Fair acquiring his shares but that does not necessarily imply anything other than that was the time when the deals were made.
I did not make the decision to involve Melissa in this situation. Her boyfriend may have suggested it but clearly she is a willing participant. Its interesting to consider why Rees was willing to share the deal with her to keep his name off of it if indeed he had anything to do with it and to be clear I have no idea if he has any involvement. Only that it has been suggested on this message board. It would be especially unfair to him to include him in any speculation without evidence that he is even remotely involved. If it is really his deal then Melissa must have been compensated for the use of her name and volunteered to be the front woman for the deal.
I find it amusing that you desire to make one of the largest participants in the deal off limits for discussion. If she wishes to be left out of the discussion and is really not involved then she could easily transfer the shares to the real participant and request the disclosures to be updated.
I understand that but it’s not kosher to potentially drag her name thru the mud because of her relationship with Rees.
lol, that’s been said more times than I can count, this piece of shit is going nowhere but further into the abyss.
With the recent updated filings it's time to go Pink Current and get the show on the road.
WHY are we still talking about this turdfest?????
She is a 5% holder and an asset contributor. She is deeply involved. Her involvement in the prior businesses all shuttered according to the Utah SOS shows her depth of involvement. I appreciate you directing me towards her as you did with the transfer agent.
Don’t want to drag her into the conversation any more that what has been discussed. Obvious she is caught up, either voluntarily or involuntarily, with something that Rees may have asked her to do.
That suit is a Merchant Cash Advance where Third Bench failed to pay back or keep up with the terms of a debt repayment .
From the Utah SOS: There is a lot to unpack with Melissa.
OKANE ENTERPRISES, LLC
Update this Business
Entity Number: 10850937-0160
Company Type: LLC - Domestic
Address: 932 West 1850 North West Bountiful, UT 84087
State of Origin:
Registered Agent: VINCENT & REES
Registered Agent Address:
175 South Main Street - Ste 1410
Salt Lake City, UT 84111
View Management Team
Status: Active
Purchase Certificate of Existence
Status: Active as of 06/29/2022
Renew By: 05/31/2024
Status Description: Current
The "Current" status represents that a renewal has been filed, within the most recent renewal period, with the Division of Corporations and Commercial Code.
Employment Verification: Not Registered with Verify Utah
History
View Filed Documents
Registration Date: 05/29/2018
Last Renewed: 05/30/2023
Additional Information
NAICS Code: 5239 NAICS Title: 5239-Other Financial Investment Activiti
<< Back to Search Results
The Rees connection is really strong. This is from KSL local news.
BOUNTIFUL — Top Hat Video had already beaten a lot of odds by May 2020.
The video rental store in Bountiful, which opened back in 1983, had outlasted corporate competitors like Blockbuster and even the shift to streaming services like Netflix. But when the COVID-19 pandemic hit, many customers who previously frequented the small store at 521 W. 2600 South finally switched to online streaming due to health and safety concerns. The business was losing money and owners Lee and Lona Earl began preparing to close permanently.
That's when Melissa Handley and her boyfriend David Rees stepped in.
Handley said her son, Cade, is a Top Hat employee and came home upset one night that the store would be closing. After speaking with the Earls, she and Rees decided to take over.
Handley and Rees' intervention ultimately gave Top Hat about 2½ more years. The store announced Oct. 18 that it will close its doors in December, marking the end of its 39-year run.
Handley said the goal when she and Rees bought Top Hat was simply to break even; but "the pandemic accelerated what was already happening," she said. "Once we reopened the store ... it just never fully recovered after that."
Now, she and Rees are losing more money than they can afford to, Handley said.
I do see several Rees connections to Melissa via several other companies. West Bountiful is a dump. Its on the wrong side of the freeway in the smelly salt water swamps bordering The Great Salt Lake. There is a lot going on in NY related to Third Bench. This case is just one example. Our friends being sued for breech of contract in the New York Supreme court system.
https://trellis.law/case/36069/135245-2023/samson-mca-llc-v-santa-fe-flooring-llc-ll-industries-inc-third-bench-holdings-llc-okane-enterprises-llc-david-robert-fair-melissa-handley-ogb-architectural-millwork
Another TA update today. OS unchanged. Last week I was assured on this very board that there would be more dilution disclosed late last week or this week at the latest. That gives the prognosticator one more day to be correct.
As usual you linked the wrong company. That’s O’Kane Enterprises Ltd in Garnerville, New York.
No relation to Okane Enterprises KLC in West Bountiful, UT which has David Rees name all over it.
If investors thought there would be no more shares to be issued in the future from this company they would be buying hand over fist.
Everyone knows that is not the case when Canouse/Hicks are holding preferred stock.
Everyone left because this scam is burnt.
It'll happen. When they get desperate to move shares, they can run it down to $0.0006, since they are sitting on the bid at $0.0005 now.
Where did everyone go? I miss my friends!
Is Melissa is going to bring Okane under the same roof as Third Bench?
https://okaneenterprises.com/
Transfer agent updated for today. No change as always. Dilution is done. Sellers look to be about done as well.
POS…nothing to talk about here….
I'll believe it when I see it. But I have time and can wait. Just like Melissa. She has been waiting as long as David.
It'll happen once they have a large enough bid to dump into.
No OS change in today's update as usual. Dilution is done. Time to go pink current!
How does Fair get hooked up with someone like Rees? A NY/CA private equity guy and a shady SLC lawyer buying AZ, NM , and UT companies. Like an episode of Let’s Call Saul.
There were a number of companies they tried to buy and mine was the first after Davis Kitchens. Originally they were proposing a high percentage of cash upfront and a payout over two to three years. They were working with a couple of investor groups that provide high cost funding for highly leveraged transactions. As due diligence was completed, they became part of NECA and wanted to fund the deal through the sale of shares to be issued. I sat across the table from Rees and just laughed. There was no way they could sell the stock at a price that would fund the deal. They went across town to a competitor and that guy threw them out too.
Thanks for clearing that up. I previously thought M Handley may have been Fair’s significant other but Rees makes far more sense. The only company that I know TBI tried to buy was Rasmussen although it’s possible there were many more that were not disclosed.
Sher-wood brothers seemed to have gotten shafted and don’t know if they ever recovered funds from a lawsuit one of the brother’s filed.
The EEOC suit may wind up shutting the company…..
This whole thing is a scam. Rees is behind this but his shares are held by his girlfriend because he can’t own anything. Fair is an earnest guy who was led by the nose by Rees with visions of grandeur, but they could never raise any investor capital hence the original NECA situation. Rees is on probation for other shenanigans and is not an honest guy. I dealt with him when third bench tried to buy the company I was associated with. It didn’t take long to realize it is a scam.
Yes, they need to file for large public offerings or changes to restricted shares. Conversion from debt holders does need a separate filing because the possibility is already defined in the quarterly or annual filings and is already considered part of the company structure. The AS is just a limit to the number of shares a company can move into the world. They can change that number with proper approval.
So there was no need for this filing to sell shares since they were already available in the AS? And the many others like it over the years.
https://www.otcmarkets.com/filing/html?id=8778215&guid=C3d-kpE91wv_B3h
No. Its a publicly traded company already. They can change the AS with a filing. I've seen countless OTC stocks increase their AS over time. They normally start low, and slowly increase as needed. Eventually they get to the point were they decide to do a RS again.
So in your world a company registers shares with the SEC by changing the AS? No registration filings required?
Next week sometime.
No share count update today on OTC markets and the one yesterday showed the OS unchanged. Looks like no dilution occurred this week. People on the board have been posting that the updates happen immediately when there is dilution and I have noticed the same.
They did. The AS was 50B originally. They can increase it from the 5B we are at latter if they need to.
They would have to Issue more shares to support the conversion. If they were going to do that they would have created those shares a long time back.
Hopefully. Maybe they wanted to get those filings revised first, and then get the attorney letter out.
Its been a long road and the journey is now years long. I've enjoyed the ride with the exception of the count down timer on the website. After this is over that will be what a lot of investors recall.
If the shares were "exhausted" as you say, the OS would be 5,670,596,606 shares, which is what would happen if all the debt holders converted their shares to common stock and dumped them into the market at the same time.
There has been a lot of uncertainty with the company in yield sign territory and the annual and quarterly filings issued without attorney letters and subsequently reissued. I am predicting that we will see attorney letters related to those filings very quickly with the company back to pink current on OTC Markets. That is the sign that I await that would move the company into the final phase of the cycle.
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Since 1975, Davis Kitchens has offered striking design, quality cabinetry,professional installation and first-class service. Davis Kitchens is Southern Arizona’s leader in cabinetry. We are a major Tucson, Arizona cabinet distributor for remodeling and new construction alike. We provide professional cabinet designs and installation for your kitchen remodeling, bathroom remodels, room addition, or new home construction.
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