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The CRIMINAL behind this company, Dan Scammell, is a convicted Vancouver stock promoter
This stock is being promoted somewhere, probably by mailer or email, as those are his preferred forms of manipulating companies that generate ZERO revenue, and NEVER will.
This company is a COMPLETE and UTTER SCAM. BEWARE
What PUMP might you be referring to?
PUMP AND DUMP FRAUD
NO ASSETS. NO CASH FLOW. WHITE COLLAR CRIMINAL VANCOUVER BASED STOCK PROMOTER OWNS THE TRADABLE FLOAT THROUGH NOMINEES.
GET READY TO GET BURNED UNLESS THE SEC SHUTS THIS PONZI SCHEME DOWN. UNAUDITED FINANCIALS CRAFTED IN THE BACK ROOM OF SOMEONE'S HOUSE. WHAT A SCAM. A SCAMMELL FRAUD PRODUCTION
https://www.bcsc.bc.ca/News/News_Releases/2012/43_BCSC_panel_sanctions_two_men_for_illegally_trading_and_distributing_securities/
https://www.prnewswire.com/news-releases/asc-reciprocates-bans-against-daniel-scammell-casper-de-beer-verifysmart-corp-and-verified-transactions-corp-211401051.html
http://www.vancouversun.com/business/baines+coquitlam+stock+promoter+associate+suspended+from/6633706/story.html
Wow! Strong buys all day. Seems like there might be some more news coming?
Well the new acquisitions are starting to pay off. Hang on this stock is going to be at one dollar plus in the very near future.
PUMP AND DUMP STARTING
Looks like the Dan Scammer, I mean Dan Scammell Pump and Dump promotion is starting. Unaudited financials, with a white collar ponzi schemer behind the scenes.
Report this company to the SEC. IT is a complete and utter fraud, run by the fraudster Dan Scammell and his wife Colleen. The officers and directors of this company, Tony Cinotti, are straw men and puppets of Dan Scammell.
https://www.bcsc.bc.ca/News/News_Releases/2012/43_BCSC_panel_sanctions_two_men_for_illegally_trading_and_distributing_securities/
“Stock to Watch” Verify Smart Corp
https://www.thestreet.com/quote/VSMR.html
Verify Smart Corporation Signs Letter Of Intent To Acquire Equity Share In Cbros Technologies' Anti-Texting Solution For Driving And The Workplace Environment
https://www.thestreet.com/quote/VSMR.html
“Price Alert” Verify Smart Up 11.36% Today
http://www.thestreetnow.com/spotlight/vsmr-main/
Some really nice buys lately! Looks like another diamond in the rough. Seems like something is going on behind scenes imo?
Verify Smart Corporation and Legacy Financial Systems Sign Memorandum of Understanding to Provide Secure Crypto-Currency Transactions to Investors, Customers and Merchants
https://globenewswire.com/news-release/2018/02/27/1395933/0/en/Verify-Smart-Corporation-and-Legacy-Financial-Systems-Inc-Sign-Memorandum-of-Understanding-to-Provide-Secure-Crypto-Currency-Transactions-to-Investors-Customers-and-Merchants.html
Company and Dan Scammell are a COMPLETE FRAUD
The man behind this fraudulent curtain shell company and his wife Colleen are the finest of white collar criminals you will ever meet. DO NOT buy this company. It hasn't posted financials in years, and when it does, the books are guaranteed to be cooked. He hides out in Vancouver and continues to lure in unsuspecting people into his fraudulent companies. The stock is all owned in offshore entities so when he sells, they cannot track him. He has already been convicted for illegally raising money for this company (which went into renovating his house that has long since been foreclosed upon). Save your money, contact the SEC and have this POS fraud shell delisted. It's been on the delist list for a few years now, and any day now it will be gone. The PR is comical at best. Do your research into the backgrounds of everyone involved in these PR reports and you will be sure to find a list of convicted felons.
http://www.vancouversun.com/business/baines+coquitlam+stock+promoter+associate+suspended+from/6633706/story.html
http://www.advisor.ca/news/industry-news/two-men-fined-1-2-million-by-bcsc-79316
Verify Smart Corporation and Legacy Financial Systems Inc. Sign Memorandum of Understanding to Provide Secure Crypto-Currency Transactions to Investors, Customers and Merchants
https://globenewswire.com/news-release/2018/02/27/1395933/0/en/Verify-Smart-Corporation-and-Legacy-Financial-Systems-Inc-Sign-Memorandum-of-Understanding-to-Provide-Secure-Crypto-Currency-Transactions-to-Investors-Customers-and-Merchants.html
Legacy Financial Systems has developed a crypto-currency (called Legacy) that is a digital token backed by the Swiss Franc (CHF) for global, ubiquitous transactions (backed by Verify Smart’s secure authentication IP) in a familiar, less volatile accounting unit.
https://globenewswire.com/news-release/2018/02/27/1395933/0/en/Verify-Smart-Corporation-and-Legacy-Financial-Systems-Inc-Sign-Memorandum-of-Understanding-to-Provide-Secure-Crypto-Currency-Transactions-to-Investors-Customers-and-Merchants.html
Legacy Financial Systems has developed a crypto-currency (called Legacy) that is a digital token backed by the Swiss Franc (CHF) for global, ubiquitous transactions (backed by Verify Smart’s secure authentication IP) in a familiar, less volatile accounting unit.
https://globenewswire.com/news-release/2018/02/27/1395933/0/en/Verify-Smart-Corporation-and-Legacy-Financial-Systems-Inc-Sign-Memorandum-of-Understanding-to-Provide-Secure-Crypto-Currency-Transactions-to-Investors-Customers-and-Merchants.html
Verify Smart Corporation and Legacy Financial Systems Inc. Sign Memorandum of Understanding to Provide Secure Crypto-Currency Transactions to Investors, Customers and Merchants
https://www.nasdaq.com/press-release/verify-smart-corporation-and-legacy-financial-systems-inc-sign-memorandum-of-understanding-to-20180227-00658
Verify Smart Corporation Signs Letter of Intent to Acquire Equity Share in Cbros Technologies Anti-Texting Solution
https://finance.yahoo.com/news/verify-smart-corporation-signs-letter-130000002.html
Highest volume trading days in the past year . The stock is up 10%
http://www.wallstreetresearcher.com/Tech%20Talk/News%20Alerts%20VSMR.html
Breakout Alert from Tech Talk Reporter: These shares are up 7 fold in the past year soaring from a low of $0.03 to over $0.30 settling back to $0.20 where this stock is building a solid base . We expect these shares to once again test their 52 week high of $0.32 where we set our initial target price
http://www.wallstreetresearcher.com/Tech%20Talk/News%20Alerts%20VSMR.html
From WallStreetResearcher:
“One to Watch - Volume Alert” Verify Smart Corp - VSMR OTC
Verify Smart Corporation to Launch Curbside Lead (TM) and Small Business Proximity Marketing programs in First Quarter 2018
http://www.wallstreetresearcher.com/Tech%20Talk/News%20Alerts%20VSMR.html
No Filings +Dan Scammell + Pump&Dump= FRAUD
Do not believe the previous poster's hype-this company was always a fraud and is still a fraud, secretly masking the true owner of nominee held stock by Dan Scammell of Coquitlam BC. He is a Canadian Bernie Madoff on a smaller scale. This company will never make money, will never have a viable business model, and Dan Scammell is responsible for the pumping of fake news stories to somehow put lipstick on this tainted PIG. Go to SEC.gov and see that the company has not made a filing since 2013. All of the unaudited financials posted were created by one of Scammell's cronies and have no validity to them.
Unfortunately David Baines retired, but read a little about this scam before you even think of investing.
SCAM SCAM SCAM. There is no business here and will never be. The company stock is controlled by one hidden guy. There will be nothing left of a business even if it got there-which if you know Scammell it won't.
DO NOT buy into this FRAUD.
http://www.vancouversun.com/business/baines+coquitlam+stock+promoter+associate+suspended+from/6633706/story.html
https://www.sec.gov/cgi-bin/browse-edgar?company=verify+smart&owner=exclude&action=getcompany
VERIFY SMART RECENT NEWS LOOKS LIKE GOOD BUY
http://www.businesswire.com/news/home/20170919005444/en/Verify-Smart-Corporation-Completes-Acquisition-BP360-Group
http://www.businesswire.com/news/home/20170810005152/en/Verify-Smart-Corporation-Signs-Letter-Intent-Form
http://www.businesswire.com/news/home/20170613005272/en/Verify-Smart-Corporation-Signs-Letter-Intent-Acquire
http://www.businesswire.com/news/home/20171019005307/en/Verify-Smart-Corp.-SavvyCard%C2%AE-Partner-Bring-Proximity
http://www.businesswire.com/news/home/20170815005198/en/Verify-Smart-Corporation-Hires-Lou-Pingitore-CEO
VERIFY SMART RECENT NEWS LOOKS LIKE GOOD BUY
http://www.businesswire.com/news/home/20170919005444/en/Verify-Smart-Corporation-Completes-Acquisition-BP360-Group
http://www.businesswire.com/news/home/20170810005152/en/Verify-Smart-Corporation-Signs-Letter-Intent-Form
http://www.businesswire.com/news/home/20170613005272/en/Verify-Smart-Corporation-Signs-Letter-Intent-Acquire
http://www.businesswire.com/news/home/20171019005307/en/Verify-Smart-Corp.-SavvyCard%C2%AE-Partner-Bring-Proximity
http://www.businesswire.com/news/home/20170815005198/en/Verify-Smart-Corporation-Hires-Lou-Pingitore-CEO
Great NEWS for Investors looking at VSMR. New management with major new high tech products hitting the market. As investors you will be very interested in looking at the press releases: Aug 10, 2017 Verify Smart Corporation Signs Letter of Intent to Form New Proximity Marketing Division by Acquiring The BP360 Group or do a search for Verify Smart Corp press releases. So do your due diligence.
This message is regarding the postings previously about Verify Smart and the filings. If you do your due diligence and not listen to the person who is saying negative comments: go to the following and see that they are done
https://www.otcmarkets.com/stock/VSMR/filings And, Verify Smart is rebranding as an innovative technology company with new management.
NO FILING SINCE 3/5/13 DON'T BUY!!!!
VANCOUVER STOCK PROMOTER PONZI SCHEME. DO NOT BUY AND REPORT THIS FRAUD COMPANY TO THE SEC SO THEY DELIST IT.
http://www.vancouversun.com/business/2035/Baines+Coquitlam+stock+promoter+associate+suspended+from/6633706/story.html
http://bcsc.bc.ca/Enforcement/Decisions/PDF/2012_BCSECCOM_176_pdf/
DON'T BUY- NO ASSETS. NO FILINGS FOR YEARS. SHELL COMPANY INDIRECTLY OWNED BY DAN SCAMMELL, A PROLIFIC SCAMMER FROM COQUITLAM BC.
SAVE YOUR MONEY. REPORT THIS COMPANY TO SEC TO DELIST
REPORT TO SEC TO DELIST THIS FRAUD
Dan and Colleen Scammell stock fraud. Do not buy this stock. They are fraudulent Vancouver based promoters that run penny stock frauds-not legitimate business. This company files no legitimate financials. Yet someone is trading it again. Do not fall for this shell game fraud.
http://www.stockwatch.com/News/Item.aspx?bid=Z-C%3A*BCSC-1914651&symbol=*BCSC®ion=C
http://www.bcsc.bc.ca/News/News_Releases/2012/43_BCSC_panel_sanctions_two_men_for_illegally_trading_and_distributing_securities/
THIS IS A FRAUD. NO BUSINESS AT THIS COMPANY. YOU ARE FUNDING AN ILLEGAL ENTERPRISE WHEN YOU PURCHASE THIS STOCK. CONTACT THE SEC TO DELIST THIS SCAM COMPANY
Delinquent Dan & Colleen Scammell Stock Fraud
This company needs to be delisted immediately. It is a pump & dump stock fraud run by the now sanctioned Ponzi scammer Dan Scammell and his crooked wife Colleen Scammell. They are professional crooks that are trying to revive this empty, fraudulent company.
Report them and Tony Cinotti, their puppeteer front man, to the SEC.
If the Scammells ever call you asking for money, don't ever write them a check. They are fraudulent ponzi scammers and stock fraudsters from Coquitlam BC. Their house was foreclosed last year and they are at the end of the ropes. Please report these people to the BCSC if they continue to defraud you and DO NOT BUY THIS STOCK!
http://www.vancouversun.com/business/2035/Baines+Coquitlam+stock+promoter+associate+suspended+from/6633706/story.html
Second alert on VSMR being severely delinquent in filing Financials and is at extreme risk of an SEC Suspension and subsequent stock registration revocation. The last 10K was in 2013.
https://www.sec.gov/cgi-bin/browse-edgar?company=Verify+Smart+Corp&owner=exclude&action=getcompany
VSMR is on the list of delinquent filers:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=123772332
1454 SEC Filers have been Suspended by the SEC for Financials delinquencies. The SEC Administrative Law Judge subsequently revoked the Registrations of each delinquent SEC Filer.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=123541685
Company LOSES ALL LAWSUITS. HAS NO ASSETS
This company actually filed suits against apple, BofA, HSBC and Microsoft and each case was dismissed shortly after filing. Proves the company is a scam with no assets. Report Dan Scammell and his scummy wife Colleen Scammell to the BCSC and SEC.
Dan Scammell has already been indicted on securities fraud for Verify Smart and owes 1.2 million in restitution. Do not ALLOW the ponzi scammer stock promoters to defraud you.
????????????Case 2:15-cv-06207-KM-JBC Document 8 Filed 09/21/15 Page 1 of 1 PageID: 73
VERIFY SMART CORP., Plaintiff,
Civil Action No. 2:15-CV-06207-KM-JBC
APPLE INC.,
NOTiCE OF VOLUNTARY DISMISSAL WITH PREJUDICE OF DEFENDANT APPLE INC.
V.
UNITED STATES DISTRICT COURT FOR THE DISTRICT OF NEW JERSEY
Defendant.
Pursuant to Rule 41 of the Federal Rules of Civil Procedure, Plaintiff Verify Smart Corp. (“Verify”) hereby moves, stipulates and agrees subject to and upon the Court’s approval that: (i) all of Verify’s claims in the action against Apple Inc. shall be dismissed with prejudice and (ii) each party shall bear its own costs, expenses and attorneys’ fees.
Dated: September 18, 2015 Westfield, NJ 07090
IT IS on this
SO ORDERED.
By: Is/Jean-Marc Zimmerman Zimmerman, Weiser & Paray LLP 226 St. Paul Street
Westfield, New Jersey 07090
Tel: (908) 654-8000
Fax: (908) 654-7207
jmz@zwpllp.com
Attorneys for Plaintiff Verify Smart Corp.
H n. Kevin McNulty, U.S.D.J.
Company is a scam with no assets, and Dan Scammell as the man behind the curtain of a pump and dump. Report this scam to the SEC
$VSMR recent news/filings
bullish chart
breakout with bullish divergence
bband squeeze
## source: finance.yahoo.com
Tue, 25 Aug 2015 11:00:00 GMT ~ Verify Smart Corporation Acquires Controlling Interest in Surf Smart Solutions, LLC
[PR Newswire] - FERNLEY, Nev., Aug. 25, 2015 /PRNewswire/ -- Verify Smart Corporation (OTCBB: VSMR), a global innovator in financial fraud prevention and digital content distribution to the mobile channel, announced today ...
read full: http://finance.yahoo.com/news/verify-smart-corporation-acquires-controlling-110000226.html
*********************************************************
Tue, 25 Nov 2014 19:15:00 GMT ~ Verify Smart Corporation Finalizes Joint Venture with Global Technologies International Limited Group
[PR Newswire] - FERNLEY, Nev., Nov. 25, 2014 /PRNewswire/ -- Verify Smart Corporation (OTCBB: VSMR), a global innovator in financial fraud prevention and digital content distribution to the mobile channel, announced today ...
read full: http://finance.yahoo.com/news/verify-smart-corporation-finalizes-joint-191500157.html
*********************************************************
$VSMR charts
basic chart ## source: stockcharts.com
basic chart ## source: stockscores.com
big daily chart ## source: stockcharts.com
big weekly chart ## source: stockcharts.com
$VSMR company information
## source: otcmarkets.com
Link: http://www.otcmarkets.com/stock/VSMR/company-info
Ticker: $VSMR
OTC Market Place: OTC Pink No Information
CIK code: 0001370292
Company name: Verify Smart Corp.
Incorporated In: NV, USA
Business Description:
$VSMR share structure
## source: otcmarkets.com
Market Value: $2,639,275 a/o Sep 04, 2015
Shares Outstanding: 52,785,500 a/o Feb 11, 2011
Float: Not Available
Authorized Shares: Not Available
Par Value: 0.001
$VSMR extra dd links
Company name: Verify Smart Corp.
## STOCK DETAILS ##
After Hours Quote (nasdaq.com): http://www.nasdaq.com/symbol/VSMR/after-hours
Option Chain (nasdaq.com): http://www.nasdaq.com/symbol/VSMR/option-chain
Historical Prices (yahoo.com): http://finance.yahoo.com/q/hp?s=VSMR+Historical+Prices
Company Profile (yahoo.com): http://finance.yahoo.com/q/pr?s=VSMR+Profile
Industry (yahoo.com): http://finance.yahoo.com/q/in?s=VSMR+Industry
## COMPANY NEWS ##
Market Stream (nasdaq.com): http://www.nasdaq.com/symbol/VSMR/stream
Latest news (otcmarkets.com): http://www.otcmarkets.com/stock/VSMR/news - http://finance.yahoo.com/q/h?s=VSMR+Headlines
## STOCK ANALYSIS ##
Analyst Research (nasdaq.com): http://www.nasdaq.com/symbol/VSMR/analyst-research
Guru Analysis (nasdaq.com): http://www.nasdaq.com/symbol/VSMR/guru-analysis
Stock Report (nasdaq.com): http://www.nasdaq.com/symbol/VSMR/stock-report
Competitors (nasdaq.com): http://www.nasdaq.com/symbol/VSMR/competitors
Stock Consultant (nasdaq.com): http://www.nasdaq.com/symbol/VSMR/stock-consultant
Stock Comparison (nasdaq.com): http://www.nasdaq.com/symbol/VSMR/stock-comparison
Investopedia (investopedia.com): http://www.investopedia.com/markets/stocks/VSMR/?wa=0
Research Reports (otcmarkets.com): http://www.otcmarkets.com/stock/VSMR/research
Basic Tech. Analysis (yahoo.com): http://finance.yahoo.com/q/ta?s=VSMR+Basic+Tech.+Analysis
Barchart (barchart.com): http://www.barchart.com/quotes/stocks/VSMR
DTCC (dtcc.com): http://search2.dtcc.com/?q=Verify+Smart+Corp.&x=10&y=8&sp_p=all&sp_f=ISO-8859-1
Spoke company information (spoke.com): http://www.spoke.com/search?utf8=%E2%9C%93&q=Verify+Smart+Corp.
Corporation WIKI (corporationwiki.com): http://www.corporationwiki.com/search/results?term=Verify+Smart+Corp.&x=0&y=0
## FUNDAMENTALS ##
Call Transcripts (nasdaq.com): http://www.nasdaq.com/symbol/VSMR/call-transcripts
Annual Report (companyspotlight.com): http://www.companyspotlight.com/library/companies/keyword/VSMR
Income Statement (nasdaq.com): http://www.nasdaq.com/symbol/VSMR/financials?query=income-statement
Revenue/EPS (nasdaq.com): http://www.nasdaq.com/symbol/VSMR/revenue-eps
SEC Filings (nasdaq.com): http://www.nasdaq.com/symbol/VSMR/sec-filings
Edgar filings (sec.gov): http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001370292&owner=exclude&count=40
Latest filings (otcmarkets.com): http://www.otcmarkets.com/stock/VSMR/filings
Latest financials (otcmarkets.com): http://www.otcmarkets.com/stock/VSMR/financials
Short Interest (nasdaq.com): http://www.nasdaq.com/symbol/VSMR/short-interest
Dividend History (nasdaq.com): http://www.nasdaq.com/symbol/VSMR/dividend-history
RegSho (regsho.com): http://www.regsho.com/tools/symbol_stats.php?sym=VSMR&search=search
OTC Short Report (otcshortreport.com): http://otcshortreport.com/index.php?index=VSMR
Short Sales (otcmarkets.com): http://www.otcmarkets.com/stock/VSMR/short-sales
Key Statistics (yahoo.com): http://finance.yahoo.com/q/ks?s=VSMR+Key+Statistics
Insider Roster (yahoo.com): http://finance.yahoo.com/q/ir?s=VSMR+Insider+Roster
Income Statement (yahoo.com): http://finance.yahoo.com/q/is?s=VSMR
Balance Sheet (yahoo.com): http://finance.yahoo.com/q/bs?s=VSMR
Cash Flow (yahoo.com): http://finance.yahoo.com/q/cf?s=VSMR+Cash+Flow&annual
## HOLDINGS ##
Major holdings (cnbc.com): http://data.cnbc.com/quotes/VSMR/tab/8.1
Insider transactions (yahoo.com): http://finance.yahoo.com/q/it?s=VSMR+Insider+Transactions
Insider transactions (secform4.com): http://www.secform4.com/insider-trading/VSMR.htm
Insider transactions (insidercrow.com): http://www.insidercow.com/history/company.jsp?company=VSMR
Ownership Summary (nasdaq.com): http://www.nasdaq.com/symbol/VSMR/ownership-summary
Institutional Holdings (nasdaq.com): http://www.nasdaq.com/symbol/VSMR/institutional-holdings
Insiders (SEC Form 4) (nasdaq.com): http://www.nasdaq.com/symbol/VSMR/insider-trades
Insider Disclosure (otcmarkets.com): http://www.otcmarkets.com/stock/VSMR/insider-transactions
## SOCIAL MEDIA AND OTHER VARIOUS SOURCES ##
PST (pennystocktweets.com): http://www.pennystocktweets.com/stocks/profile/VSMR
Market Watch (marketwatch.com): http://www.marketwatch.com/investing/stock/VSMR
Bloomberg (bloomberg.com): http://www.bloomberg.com/quote/VSMR:US
Morningstar (morningstar.com): http://quotes.morningstar.com/stock/s?t=VSMR
Bussinessweek (businessweek.com): http://investing.businessweek.com/research/stocks/snapshot/snapshot_article.asp?ticker=VSMR
$VSMR DD Notes ~ http://www.ddnotesmaker.com/VSMR
VERIFY SMART PATENT LAWYER TROLL ZIMMERMAN SANCTIONED BEFORE
The legal filings state that Verify is not a public company. Fraud fraud fraud.
http://www.lexology.com/library/detail.aspx?g=9702ec63-bf47-4581-93aa-8d18c7865aa4
Typical Scammell stock pump and dump fraud. Verify has no assets and Scammell is banned by the BCSC for being a fraudster
https://www.biv.com/article/2012/5/bcsc-sanctions-men-for-illegally-trading-and-distr/
Verify Smart filing bogus lawsuits and are losing all of them. COMPANY HAS NO ASSETS-DAN SCAMMELL STOCK FRAUD
Case 2:14-cv-05117-KSH-CLW Document 30 Filed 06/30/15 Page 1 of 1 PageID: 371
VERIFY SMART CORP., Plaintiff,
v.
BANK OF AMERICA, NATIONAL ASSOCIA TION,
Defendant.
Civil No.: 14-5117 (KSH) (CLW)
Order
UNITED STATES DISTRICT COURT DISTRICT OF NEW JERSEY
????THIS MATTER having come before the Court upon the motion of defendant Bank of America,N.A.,forentryofanorderpursuanttoFed.R.Civ. P.12(b)(1)and(b)(6)dismissing plaintiff’s complaint [D.E. 13], and the Court having considered the submissions of the parties and oral argument, if any, for good cause shown, and for the reasons set forth in the opinion filed herewith,
IT IS on this 30th day of June, 2015, hereby
ORDERED that defendant’s motion to dismiss pursuant to Fed. R. Civ. P. 12(b)(1) is granted without prejudice; and it is further
ORDERED that defendant’s motion to dismiss pursuant to Fed. R. Civ. P. 12(b)(6) is denied as moot.
/s/Katharine S. Hayden _ Katharine S. Hayden, U.S.D.J.
?
6 08/17/15 08/17/15 ORDER VOLUNTARILY DISMISSING CASE w/prejudice & w/out costs as to deft., MICROSOFT CORPORATION,. Signed by Judge Madeline C. Arleo on 8/17/15. (DD, )
Versus HSBC
1
2 08/12/14 08/12/14 NOTICE AND ORDER OF VOLUNTARY DISMISSAL. Signed by Judge William J. Martini on 8/12/14. (gh, )
No Asset=No Revenue=Dan and Colleen Scammell Stock Pump and Dump Fraud
Do not invest in this empty Scammell shell fraud. He has already been indicted by the BCSC. Do not lose your hard earned money to this disgusting vancouver based con man Scammell. If he was a US citizen he would be in jail.
Delist this company before more get sucked in by the Dan and Colleen Scammell Madoff Scam.
Long time Coquitlam stock promoter Dan Scammell and associate Caspar de Beer have been turfed from the B.C. securities market for at least five years after a B.C. Securities Commission hearing panel found they illegally sold $1.2 million worth of shares in two private companies.
The hearing panel — headed by BCSC vice-chairman Brent Aitken — also ordered the two men to disgorge to the commission the $1.2 million they illegally raised.
“As a matter of principle, we agree that if capital is raised in contravention of the Securities Act, it follows that it is appropriate that the amount raised be disgorged to the commission,” the panel stated in its decision, released Wednesday.
“If we collect any of the $1.2 million, it will go to the investors,” BCSC communications officer Richard Gilhooley said in an interview.
The panel also ordered the pair to pay $50,000 each in administrative penalties.
Until they pay the required amounts, their suspensions will remain in effect, even if the five-year period has expired.
This matter first came to public attention in February 2009 when The Vancouver Sun reported that Scammell was selling seed shares of VerifySmart Corp.
The company was developing software to prevent credit card fraud. Scammell told investors that a high-volume merchant processor had signed on to the company’s technology.
He projected revenues would climb to $200 million by the end of fiscal 2009, and the company’s share would start at five per cent ($10 million) and increase to 10 per cent ($20 million per year).
In March 2009, VerifySmart and a related company, Verified Transactions Corp., entered into a joint-venture licensing deal with a Nevada shell company, Treasure Explorations Inc., which traded on the OTC Bulletin Board in the United States.
The shell then changed its name to Verify Smart Corp. and embarked on an aggressive promotion.
Among other things, the company hired a California-based stock tout service, Cohen Independent Research Group Inc., to prepare an “independent” research report projecting millions of dollars in net profits and a soaring stock price.
However, the promised sales never materialized and investors were left with worthless paper.
In November 2010, BCSC enforcement staff issued a notice of hearing alleging that, from 2006 to 2009, Scammell and de Beer had sold $1.2 million worth of shares of VerifySmart and Verified Transactions to 99 investors in Canada and the United States without filing a prospectus and without being registered to sell or advise in securities.
The pair claimed they sold the shares under exemptions to prospectus and registration requirements, as provided in the Securities Act, specifically an exemption allowing for the sale of shares to friends, family members and business associates. However, the BCSC enforcement staff maintained that the purchasers did not fall into any of these categories.
A hearing was held in July 2011, and in December 2011, the panel found that Scammell and de Beer sold the shares without meeting prospectus and registration requirements.
In considering appropriate sanctions, the panel said there is no evidence Scammell and de Beer benefited from their misconduct. On the contrary, the panel said, it appears that both lost money.
However, the panel said, “there is evidence of significant harm to investors … There is no market for the securities the investors purchased, nor is there any evidence that their investments have any present or future value.”
The panel noted there was no evidence that either man has any regulatory history.
Not mentioned was the fact that Scammell has touted many penny stock flame-outs, including Caneco Audio Publishers Inc. (an extended-play tape recorder for novels); Capital Reserve Inc. (an optical device for measuring alcohol and drug impairment); and Axagon Resources Ltd. (a salt-free ice-melting compound).
Two of these deals, Capital Reserve and Axagon, became the subject of regulatory action. Although a player in both, Scammell was never cited for any wrongdoing.
Delinquent Due to Scammell Stock Fraud
This company is delinquent due to Dan and Colleen Scammell's stock fraud. He is the straw man behind the nominee shares of this company. David Baines sniffed him out years ago.
Call the SEC and get them involved in this purported fraudulent shell and try to recover your funds from Dan and Colleen Scammell.
The crooked banker behind their dealings is Fred Sharp (604) 688-3931
http://www.manta.com/ic/mtqgzz6/ca/corporate-house-inc?utm_expid=82789632-35.5hBunVVLRam7e9B6_xvwKA.0&utm_referrer=http%3A%2F%2Fwww.google.com%2Furl%3Fsa%3Dt%26rct%3Dj%26q%3D%26esrc%3Ds%26source%3Dweb%26cd%3D1%26ved%3D0CB4QFjAA%26url%3Dhttp%253A%252F%252Fwww.manta.com%252Fic%252Fmtqgzz6%252Fca%252Fcorporate-house-inc%26ei%3DbTD_VLSoBovRggTrkYLgAQ%26usg%3DAFQjCNFp6_RHMs5HyuazhAILPf47Z0xQmw%26bvm%3Dbv.87611401%2Cd.eXY
Catch these thieves before all your money is gone. Nice plunge on the stock today as Scammell sells through Fred Sharp at some investor's expense.
The company has no asset and is a typical Scammell pump and dump.
VSMR is severely delinquent in filing their Financials and corporate filing obligations to the SEC. On Feb. 20, 2015 the SEC suspended 8 stocks from the Delinquent SEC Filers list, and it is likely that more delinquent Filers will be suspended.
Since Jan 1st, 2010 the SEC has suspended over 1290 stocks for Financials delinquencies. All of those Suspended stocks had their stock registrations revoked.
Shareholders should contact the company and pressure the Mgmt to file their delinquent Financials because ALL shareholders would be wiped out IF the SEC suspends the stock.
VSMR is on the list of delinquent filers:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=110680509
Careful on false press releases by this straw man controlled empty shell.
This company just announced another sham press release. They have no assets, no technology, and the ponzi schemer Dan Scammell is behind the whole company. Don't buy this stock and report this fraud to the SEC. You will be left holding the bag while Dan SCAMmell's straw men sell stock for his gain. This company has been around for 5 years, and was pumped and dumped through Cohen research based on the company having an asset that it never owned. It's a classic DAN SCAMmell fraud and David Baines has been on this guy for decades. This man should be in jail and is nothing more than a pure con artist.
The BCSC has already indicted Scammell for this fraudulent company with 1.2 million in restitution. Don't buy this stock and be a part of the SCAMmell fraud.
Warning Stock Fraud Dan Scammell Protect Yourself From Criminal Promoters Like Dan Scammell
http://www.bcsc.bc.ca/News/News_Releases/2012/43_BCSC_panel_sanctions_two_men_for_illegally_trading_and_distributing_securities/
2012/43
May 16, 2012
Vancouver – A British Columbia Securities Commission panel has sanctioned two men and two companies for illegally raising money from Canadian and U.S. investors.
In December 2011, a commission panel found that Daniel Scammell, Casper de Beer (aka Casha de Beer), Verified Transactions Corp. (VTC) and VerifySmart Corp. (formerly known as Verified Capital Corp.) traded in securities without being registered in B.C., and distributed those securities without filing a prospectus.
From September 2006 to December 2008, Scammell and VTC raised $641,309 from 49 investors in B.C., Alberta and Washington State. The panel found that these securities were distributed illegally, as the exemptions from B.C. securities laws relied upon by Scammell and VTC did not apply to any of the distributions. Additionally, neither Scammell nor VTC were registered to trade securities, and VTC has never filed a prospectus in B.C.
From November 2008 to March 2009, de Beer and VerifySmart distributed shares in that company to 50 investors in British Columbia, Alberta, Saskatchewan, Manitoba and Ontario, raising a total of $575,000. The panel also found these securities to have been distributed illegally, as the exemptions from B.C. securities laws relied upon by de Beer and VerifySmart did not apply to any of the distributions. Additionally, neither de Beer nor VerifySmart were registered to trade securities, and VerifySmart has never filed a prospectus in B.C.
For their misconduct, Scammell and deBeer are both prohibited from trading in securities, purchasing securities or exchange contracts (with limited exceptions), and from becoming or acting as a director or officer of any issuer, registrant, or investment fund manager for five years. They are also prohibited, for the same period, from becoming or acting as a registrant, investment fund manager or promoter, from engaging in investor relations activities, and from acting in a management or consultative capacity in connection with the securities market.
The panel also ordered Scammell and deBeer to pay to the commission the $1.2 million they obtained as a result of their illegal activity, as well as administrative penalties of $50,000. The prohibitions remain in place until the later of May 14, 2017 and the date these amounts have been paid.
In addition to the orders against Scammell and deBeer, Verified Transactions Corp. and VerifySmart Corp. were permanently cease-traded by the panel.
The B.C. Securities Commission is the independent provincial government agency responsible for regulating trading in securities within the province. You may view the decision on our website, www.bcsc.bc.ca, by typing Scammell, deBeer, VerifySmart Corp, Verified Transactions Corp, or 2012 BCSECCOM 176 in the search box. Information regarding disciplinary proceedings can be found in the Enforcement section of the BCSC website.
Please visit the Canadian Securities Administrators’ Disciplined Persons List for information relating to persons disciplined by provincial securities regulators, the Investment Industry Regulatory Organization of Canada (IIROC) and the Mutual Fund Dealers Association (MFDA).
If you have questions, contact Richard Gilhooley, media relations, 604-899-6713. For public inquiries, call 604 899 6854 or 1 800 373 6393 (toll free).
Learn how to protect yourself and become a more informed investor at www.investright.org
Baines: Coquitlam stock promoter, associate suspended from B.C.
BY DAVID BAINES, VANCOUVER SUN MAY 16, 2012
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STORYPHOTOS ( 1 )
Baines: Coquitlam stock promoter, associate suspended from B.C.
Vancouver Sun business columnist David Baines.
Photograph by: PNG files , .
Long time Coquitlam stock promoter Dan Scammell and associate Caspar de Beer have been turfed from the B.C. securities market for at least five years after a B.C. Securities Commission hearing panel found they illegally sold $1.2 million worth of shares in two private companies.
The hearing panel — headed by BCSC vice-chairman Brent Aitken — also ordered the two men to disgorge to the commission the $1.2 million they illegally raised.
“As a matter of principle, we agree that if capital is raised in contravention of the Securities Act, it follows that it is appropriate that the amount raised be disgorged to the commission,” the panel stated in its decision, released Wednesday.
“If we collect any of the $1.2 million, it will go to the investors,” BCSC communications officer Richard Gilhooley said in an interview.
The panel also ordered the pair to pay $50,000 each in administrative penalties.
Until they pay the required amounts, their suspensions will remain in effect, even if the five-year period has expired.
This matter first came to public attention in February 2009 when The Vancouver Sun reported that Scammell was selling seed shares of VerifySmart Corp.
The company was developing software to prevent credit card fraud. Scammell told investors that a high-volume merchant processor had signed on to the company’s technology.
He projected revenues would climb to $200 million by the end of fiscal 2009, and the company’s share would start at five per cent ($10 million) and increase to 10 per cent ($20 million per year).
In March 2009, VerifySmart and a related company, Verified Transactions Corp., entered into a joint-venture licensing deal with a Nevada shell company, Treasure Explorations Inc., which traded on the OTC Bulletin Board in the United States.
The shell then changed its name to Verify Smart Corp. and embarked on an aggressive promotion.
Among other things, the company hired a California-based stock tout service, Cohen Independent Research Group Inc., to prepare an “independent” research report projecting millions of dollars in net profits and a soaring stock price.
However, the promised sales never materialized and investors were left with worthless paper.
In November 2010, BCSC enforcement staff issued a notice of hearing alleging that, from 2006 to 2009, Scammell and de Beer had sold $1.2 million worth of shares of VerifySmart and Verified Transactions to 99 investors in Canada and the United States without filing a prospectus and without being registered to sell or advise in securities.
The pair claimed they sold the shares under exemptions to prospectus and registration requirements, as provided in the Securities Act, specifically an exemption allowing for the sale of shares to friends, family members and business associates. However, the BCSC enforcement staff maintained that the purchasers did not fall into any of these categories.
A hearing was held in July 2011, and in December 2011, the panel found that Scammell and de Beer sold the shares without meeting prospectus and registration requirements.
In considering appropriate sanctions, the panel said there is no evidence Scammell and de Beer benefited from their misconduct. On the contrary, the panel said, it appears that both lost money.
However, the panel said, “there is evidence of significant harm to investors … There is no market for the securities the investors purchased, nor is there any evidence that their investments have any present or future value.”
The panel noted there was no evidence that either man has any regulatory history.
Not mentioned was the fact that Scammell has touted many penny stock flame-outs, including Caneco Audio Publishers Inc. (an extended-play tape recorder for novels); Capital Reserve Inc. (an optical device for measuring alcohol and drug impairment); and Axagon Resources Ltd. (a salt-free ice-melting compound).
Two of these deals, Capital Reserve and Axagon, became the subject of regulatory action. Although a player in both, Scammell was never cited for any wrongdoing.
Looks like Dan Scammell is selling into the market through his Offshore Trusts. Report this company and Scammell to the SEC. He is hurting investors and running another one of his Ponzi Scheme's.
Seed stock deal crashes
In February 2009, I reported that Coquitlam promoter Dan Scammell was selling seed shares of a private company, VerifySmart Corp., which was developing software to prevent credit card fraud.
BY VANCOUVER SUNDECEMBER 1, 2010
In February 2009, I reported that Coquitlam promoter Dan Scammell was selling seed shares of a private company, VerifySmart Corp., which was developing software to prevent credit card fraud.
As usual, Scammell was talking big numbers. He told investors that a high-volume merchant processor had signed on to the company's technology. He projected revenues would climb to $200 million by the end of fiscal 2009. The company's share of this booty would start at five per cent ($10 million) and increase to 10 per cent ($20 million per year).
I cautioned prospective investors that such deals carry many risks. First, there is the inherent risk of investing in a startup venture. Getting in on the ground floor is beneficial only if the venture gets off the ground, which many don't.
Second, there is the added risk of investing in any deal promoted by Scammell. He has touted many flameouts, including Caneco Audio Publishers Inc. (an extended-play tape recorder for novels); Capital Reserve Inc. (an optical device for measuring alcohol and drug impairment); and Axagon Resources Ltd. (a salt-free ice-melting compound).
Two of these deals -Capital Reserve and Axagon, became the subject of regulatory action. Although a player in both, Scammell was never cited for any wrongdoing.
The third risk is that seed stock deals are sold under exemptions from prospectus and registration requirements, which means the company remains private and largely outside the regulatory orbit. This exposes investors to substantially more risk than if they invested in a public company.
These risks often translate into big trouble for investors: "Year in and year out, [seed stock deals] are our leading source of complaints and investigation," B.C. Securities Commission enforcement director Lang Evans said at the time.
As events unfolded, VerifySmart came under BCSC investigation. Late last week, Evans' enforcement staff alleged in a notice of hearing that:
- Casper de Beer, who is one of Scammell's associates, illegally sold $575,000 worth of shares in Verify-Smart to 50 investors in Western Canada and Ontario;
- Scammell and de Beer sold $651,309 worth of shares in a related company, Verified Transactions Corp., to 49 investors in B.C., Alberta and Washington state.
The commission alleged the respondents purported to rely on an exemption that permits companies to sell stock to family, friends and business associates, but the purchasers did not qualify as such.
This might sound like a technical infraction, but it is not. These investors were, in fact, the first casualties in a ruthless pump-and-dump scheme on the OTC Bulletin Board in the United States.
In March 2009, VerifySmart and Verified Transactions entered into a joint-venture licensing deal with a Nevada shell company, Treasure Explorations Inc., which had been set up by Vancouver promoter Howard Gelfand. The shell then changed its name to Verify Smart Corp.
By this time, the B.C. Securities Commission had implemented new rules requiring any OTC company with a substantial connection to B.C. to become a B.C. reporting issuer. However, when commission staff inquired, they were told that Scammell had no connection to the public company, and the public company had relocated to the Philippines, under the leadership of Ralph Santos and Adi Muljo.
Free from BCSC scrutiny, the company embarked on an aggressive promotion.
That included an agreement to pay one million shares to a Californiabased stock tout service, Cohen Independent Research Group Inc., for "certain consulting services."
In September 2009, Cohen issued what purported to be an "independent" research report projecting millions of dollars in net profits and a stock price ranging from $3.21 to $4.64.
It also included a recommendation from another U.S. tout service, Wall Street Grand, dubbing Verify Smart "a MASSIVE opportunity" for investors. In its disclaimer, Wall Street Grand disclosed that it had been paid $563,000 by Cohen and "may be compensated more in the near future." Who provided the money to Cohen was not disclosed.
At the time, the stock was trading at 93 cents on only a few thousand shares a day, but it quickly spiked up to $1.45 and enjoyed robust volume for the next few months.
Alas, the "massive opportunity" never amounted to anything.
As of Sept. 30 this year, Verify Smart hadn't generated a single cent of revenues. That meant there was no money available to distribute to seed shareholders in the two private companies, VerifySmart and Verified Transactions.
The share price of the public company has since slumped to six cents. Shareholders in the private company are even in worse shape: Their shares are subject to severe resale restrictions and can't be sold at any price.
BCSC Panel Sanctions Two Men for Illegally Trading and Distributing Securities
Wed, 16 May, 2012 2:00 PM EDT
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VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 16, 2012) - A British Columbia Securities Commission panel has sanctioned two men and two companies for illegally raising money from Canadian and U.S. investors.
In December 2011, a commission panel found that Daniel Scammell, Casper de Beer (aka Casha de Beer), Verified Transactions Corp. (VTC) and VerifySmart Corp. (formerly known as Verified Capital Corp.) traded in securities without being registered in B.C., and distributed those securities without filing a prospectus.
From September 2006 to December 2008, Scammell and VTC raised $641,309 from 49 investors in B.C., Alberta and Washington State. The panel found that these securities were distributed illegally, as the exemptions from B.C. securities laws relied upon by Scammell and VTC did not apply to any of the distributions. Additionally, neither Scammell nor VTC were registered to trade securities, and VTC has never filed a prospectus in B.C.
From November 2008 to March 2009, de Beer and VerifySmart distributed shares in that company to 50 investors in British Columbia, Alberta, Saskatchewan, Manitoba and Ontario, raising a total of $575,000. The panel also found these securities to have been distributed illegally, as the exemptions from B.C. securities laws relied upon by de Beer and VerifySmart did not apply to any of the distributions. Additionally, neither de Beer nor VerifySmart were registered to trade securities, and VerifySmart has never filed a prospectus in B.C.
For their misconduct, Scammell and deBeer are both prohibited from trading in securities, purchasing securities or exchange contracts (with limited exceptions), and from becoming or acting as a director or officer of any issuer, registrant, or investment fund manager for five years. They are also prohibited, for the same period, from becoming or acting as a registrant, investment fund manager or promoter, from engaging in investor relations activities, and from acting in a management or consultative capacity in connection with the securities market.
The panel also ordered Scammell and deBeer to pay to the commission the $1.2 million they obtained as a result of their illegal activity, as well as administrative penalties of $50,000. The prohibitions remain in place until the later of May 14, 2017 and the date these amounts have been paid.
In addition to the orders against Scammell and deBeer, Verified Transactions Corp. and VerifySmart Corp. were permanently cease-traded by the panel.
The B.C. Securities Commission is the independent provincial government agency responsible for regulating trading in securities within the province. You may view the decision on our website, www.bcsc.bc.ca, by typing Scammell, deBeer, VerifySmart Corp, Verified Transactions Corp, or 2012 BCSECCOM 176 in the search box. Information regarding disciplinary proceedings can be found in the Enforcement section of the BCSC website.
Please visit the Canadian Securities Administrators' Disciplined Persons List for information relating to persons disciplined by provincial securities regulators, the Investment Industry Regulatory Organization of Canada (IIROC) and the Mutual Fund Dealers Association (MFDA).
If you have questions, contact Richard Gilhooley, media relations, 604-899-6713. For public inquiries, call 604 899 6854 or 1 800 373 6393 (toll free).
Learn how to protect yourself and become a more informed investor at www.investright.org.
Contacts
Richard Gilhooley
British Columbia Securities Commission
604-899-6713 or (Canada) 1-800-373-6393
DAN SCAMMELL BEHIND A COMPANY = SCAM NOW HE HAS HIS FRAUDSTER WIFE COLLEEN WORKING IT
Of course these guys get busted by the SEC, Dan Scammell runs this fake company behind the scenes. When is he going to jail? If the SEC need sot find this guy, his address is
Colleen & Dan Scammell
1729 Hampton Drive
Coquitlam BC V3E 3C9
Call him at
604-942-6176 or 778-986-4995 or email him at ds19580@gmail.com to find out why he has pilfered away all of your money. A true fraud. BCSC has got him already: http://www.bcsc.bc.ca/News/News_Releases/2012/43_BCSC_panel_sanctions_two_men_for_illegally_trading_and_distributing_securities/
Someone needs to get this guy in a jail cell with his wife Colleen that now does all of his dirty business.
COMPANY'S AGREEMENTS
3.1 Remuneration. As compensation for agreeing to provide the services to the
Company and enter into this agreement, the Contractor shall receive a total of
1,000,000 restricted shares of common stock of the Company ("Compensation
Shares") to be issued as follows:
<PAGE>
-3-
5 certificates of 100,000 restricted shares each in the name of Shawn A.
Becker;
5 certificates of 100,000 restricted shares each in the name of New Vision
Consulting Corp.
As further compensation for the Services rendered, the Contractor shall receive
an additional 500,000 restricted shares of common stock of the Company
("Compensation Shares") prior to July 31, 2009, to be issued as follows:
2 certificates of 100,000 restricted shares each in the name of Shawn A.
Becker;
3 certificates of 100,000 restricted shares each in the name of New Vision
Consulting Corp.
3.2 Voting of Compensation Shares. The Contractor covenants and agrees that,
with respect to the Compensation Shares that it receives, it shall, at all times
that it is the beneficial owner of such shares, vote such shares on all matters
coming before it as a stockholder of the Company in the same manner as the
majority of the board of directors of the Company shall recommend.
3.3 Information. Subject to the terms of this Agreement, including without
limitation 0 hereof, and provided that the Contractor agrees that it will not
disclose any material non-public information to any person or entity, the
Company shall make available to the Contractor such information and data and
shall permit the Contractor to have access to such documents as are reasonably
necessary to enable it to perform the Services under this Agreement. The Company
also agrees that it will act reasonably and promptly in reviewing materials
submitted to it from time to time by the Contractor and inform the Contractor of
any material inaccuracies or omissions in such materials.
ARTICLE 4
DURATION, TERMINATION AND DEFAULT
4.1 Effective Date. This Agreement shall become effective as of March 30, 2009
(the "EFFECTIVE Date"), and shall continue until September 30, 2009 or the
Contractor is terminated pursuant to the terms of this Agreement.
4.2 Termination. Without prejudicing any other rights that the Company may have
hereunder or at law or in equity, the Company may terminate this Agreement
immediately upon delivery of written notice to the Contractor if:
(a) the Contractor breaches section 0 of this Agreement;
(b) the Contractor breaches any other material term of this Agreement and
such breach is not cured to the reasonable satisfaction of the Company
within thirty (30) days after written notice describing the breach in
reasonable detail is delivered to the Contractor;
(c) the Company acting reasonably determines that the Contractor has
acted, is acting or is likely to act in a manner detrimental to the
Company or has violated or is likely to violate the confidentiality of
any information as provided for in this Agreement;
<PAGE>
-4-
(d) the Contractor is unable or unwilling to perform the Services under
this Agreement, or
(e) the Contractor commits fraud, serious neglect or misconduct in the
discharge of the Services.
4.3 Duties Upon Termination. Upon termination of this Agreement for any reason,
the Contractor shall upon receipt of all sums due and owing, promptly deliver
the following in accordance with the directions of the Company:
(a) a final accounting, reflecting the balance of expenses incurred on
behalf of the Company as of the date of termination; and
(b) all documents pertaining to the Company or this Agreement, including
but not limited to, all books of account, correspondence and
contracts, provided that the Contractor shall be entitled thereafter
to inspect, examine and copy all of the documents which it delivers in
accordance with this provision at all reasonable times upon three (3)
days' notice to the Company.
4.4 Compensation of Contractor on Termination. Upon termination of this
Agreement, the Contractor shall be entitled to receive as its full and sole
compensation in discharge of obligations of the Company to the Contractor under
this Agreement all sums due and payable under this Agreement to the date of
termination and the Contractor shall have no right to receive any further
payments; provided, however, that the Company shall have the right to offset
against any payment owing to the Contractor under this Agreement any damages,
liabilities, costs or expenses suffered by the Company by reason of the fraud,
negligence or wilful act of the Contractor, to the extent such right has not
been waived by the Company.
ARTICLE 5
CONFIDENTIALITY AND NON-COMPETITION
5.1 Maintenance of Confidential Information. The Contractor acknowledges that in
the course of its appointment hereunder the Contractor will, either directly or
indirectly, have access to and be entrusted with information (whether oral,
written or by inspection) relating to the Company or its respective affiliates,
associates or customers (the "CONFIDENTIAL INFORMATION"). For the purposes of
this Agreement, "Confidential Information" includes, without limitation, any and
all Developments (as defined herein), trade secrets, inventions, innovations,
techniques, processes, formulas, drawings, designs, products, systems,
creations, improvements, documentation, data, specifications, technical reports,
customer lists, supplier lists, distributor lists, distribution channels and
methods, retailer lists, reseller lists, employee information, financial
information, sales or marketing plans, competitive analysis reports and any
other thing or information whatsoever, whether copyrightable or uncopyrightable
or patentable or unpatentable. The Contractor acknowledges that the Confidential
Information constitutes a proprietary right, which the Company is entitled to
protect. Accordingly the Contractor covenants and agrees that during the Term
and thereafter until such time as all the Confidential Information becomes
publicly known and made generally available through no action or inaction of the
Contractor, the Contractor will keep in strict confidence the Confidential
Information and shall not, without prior written consent of the Company in each
instance, disclose, use or otherwise disseminate the Confidential Information,
directly or indirectly, to any third party.
5.2 Exceptions. The general prohibition contained in Section 0 against the
unauthorized disclosure, use or dissemination of the Confidential Information
shall not apply in respect of any Confidential Information that:
<PAGE>
-5-
(a) is available to the public generally in the form disclosed;
(b) becomes part of the public domain through no fault of the Contractor;
(c) is already in the lawful possession of the Contractor at the time of
receipt of the Confidential Information; or
(d) is compelled by applicable law to be disclosed, provided that the
Contractor gives the Company prompt written notice of such requirement
prior to such disclosure and provides assistance in obtaining an order
protecting the Confidential Information from public disclosure.
5.3 Developments. Any information, data, work product or any other thing or
documentation whatsoever which the Contractor, either by itself or in
conjunction with any third party, conceives, makes, develops, acquires or
acquires knowledge of during the Contractor's appointment with the Company or
which the Contractor, either by itself or in conjunction with any third party,
shall conceive, make, develop, acquire or acquire knowledge of (collectively the
"DEVELOPMENTS") during the Term or at any time thereafter during which the
Contractor is engaged by the Company that is related to the business of the
Company shall automatically form part of the Confidential Information and shall
become and remain the sole and exclusive property of the Company. Accordingly,
the Contractor does hereby irrevocably, exclusively and absolutely assign,
transfer and convey to the Company in perpetuity all worldwide right, title and
interest in and to any and all Developments and other rights of whatsoever
nature and kind in or arising from or pertaining to all such Developments
created or produced by the Contractor during the course of performing this
Agreement, including, without limitation, the right to effect any registration
in the world to protect the foregoing rights. The Company shall have the sole,
absolute and unlimited right throughout the world, therefore, to protect the
Developments by patent, copyright, industrial design, trademark or otherwise and
to make, have made, use, reconstruct, repair, modify, reproduce, publish,
distribute and sell the Developments, in whole or in part, or combine the
Developments with any other matter, or not use the Developments at all, as the
Company sees fit.
5.4 Protection of Developments. The Contractor does hereby agree that, both
before and after the termination of this Agreement, the Contractor shall perform
such further acts and execute and deliver such further instruments, writings,
documents and assurances (including, without limitation, specific assignments
and other documentation which may be required anywhere in the world to register
evidence of ownership of the rights assigned pursuant hereto) as the Company
shall reasonably require in order to give full effect to the true intent and
purpose of the assignment made under Section 0 hereof. If the Company is for any
reason unable, after reasonable effort, to secure execution by the Contractor on
documents needed to effect any registration or to apply for or prosecute any
right or protection relating to the Developments, the Contractor hereby
designates and appoints the Company and its duly authorized officers and agents
as the Contractor's agent and attorney to act for and in the Contractor's behalf
and stead to execute and file any such document and do all other lawfully
permitted acts necessary or advisable in the opinion of the Company to effect
such registration or to apply for or prosecute such right or protection, with
the same legal force and effect as if executed by the Contractor.
5.5 Remedies. The parties to this Agreement recognize that any violation or
threatened violation by the Contractor of any of the provisions contained in
this 0 will result in immediate and irreparable damage to the Company and that
the Company could not adequately be compensated for such damage by monetary
award alone. Accordingly, the Contractor agrees that in the event of any such
violation or threatened violation, the Company shall, in addition to any other
remedies available to the Company at law or in equity, be entitled as a matter
of right to apply to such relief by way of restraining order, temporary or
permanent injunction and to such other relief as any court of competent
jurisdiction may deem just and proper.
<PAGE>
-6-
5.6 Reasonable Restrictions. The Contractor agrees that all restrictions in this
0 are reasonable and valid, and all defenses to the strict enforcement thereof
by the Company are hereby waived by the Contractor.
ARTICLE 6
DEVOTION TO CONTRACT
6.1 Devotion to Contract. During the term of this Agreement, the Contractor
shall devote sufficient time, attention, and ability to the business of the
Company, and to any associated company, as is reasonably necessary for the
proper performance of the Services pursuant to this Agreement. Nothing contained
herein shall be deemed to require the Contractor to devote its exclusive time,
attention and ability to the business of the Company. During the term of this
Agreement, the Contractor shall, and shall cause each of its agents assigned to
performance of the Services on behalf of the Contractor, to:
(a) at all times perform the Services faithfully, diligently, to the best
of its abilities and in the best interests of the Company;
(b) devote such of its time, labour and attention to the business of the
Company as is necessary for the proper performance of the Services
hereunder; and
(c) refrain from acting in any manner contrary to the best interests of
the Company or contrary to the duties of the Contractor as
contemplated herein.
6.2 Other Activities. The Contractor shall not be precluded from acting in a
function similar to that contemplated under this Agreement for any other person,
firm or company.
ARTICLE 7
PRIVATE PLACEMENT OF COMPENSATION SHARES
7.1 Documents Required from Contractor. The Contractor shall complete, sign and
return to the Company as soon as possible, on request by the Company, such
additional documents, notices and undertakings as may be required by regulatory
authorities and applicable law.
7.2 Acknowledgements of Contractor The Contractor acknowledges and agrees that:
(a) the Contractor agrees and acknowledges that none of the Compensation
Shares have been registered under the Securities Act of 1933 or under
any state securities or "blue sky" laws of any state of the United
States, and, unless so registered, may not be offered or sold in the
United States or, directly or indirectly, to U.S. Persons (as that
term is defined in Regulation S under the Securities Act of 1933),
except in accordance with the provisions of Regulation S, pursuant to
an effective registration statement under the Securities Act of 1933,
or pursuant to an exemption from, or in a transaction not subject to,
the registration requirements of the Securities Act of 1933 and in
each case only in accordance with applicable state securities laws;
(b) the Contractor has not acquired the Compensation Shares as a result
of, and will not itself engage in, any "directed selling efforts" (as
defined in Regulation S under the 1933 Act) in the United States in
respect of any of the Securities which would include any activities
undertaken for the purpose of, or that could reasonably be expected to
have the effect of, conditioning the market in the United States for
the resale of any of the Compensation Shares; provided, however, that
the Contractor may sell or otherwise dispose of any of the
Compensation Shares pursuant to registration thereof under the 1933
<PAGE>
-7-
Act and any applicable state securities laws or under an exemption
from such registration requirements;
(c) the Compensation Shares will be subject to a hold period from the date
of issuance of the Compensation Shares unless such Compensation Shares
are registered with the Securities and Exchange Commission ("SEC");
(d) the decision to execute this Agreement and purchase the Compensation
Shares agreed to be purchased hereunder has not been based upon any
oral or written representation as to fact or otherwise made by or on
behalf of the Company other than those made by the Company in the
information the Company has filed with the SEC;
(e) it will indemnify and hold harmless the Company and, where applicable,
its directors, officers, employees, agents, advisors and shareholders
from and against any and all loss, liability, claim, damage and
expense whatsoever (including, but not limited to, any and all fees,
costs and expenses whatsoever reasonably incurred in investigating,
preparing or defending against any claim, lawsuit, administrative
proceeding or investigation whether commenced or threatened) arising
out of or based upon any representation or warranty of the Contractor
contained herein or in any document furnished by the Contractor to the
Company in connection herewith being untrue in any material respect or
any breach or failure by the Contractor to comply with any covenant or
agreement made by the Contractor to the Company in connection
therewith;
(f) the issuance and sale of the Compensation Shares to the Contractor
will not be completed if it would be unlawful;
(g) the Compensation Shares are not listed on any stock exchange or
subject to quotation and no representation has been made to the
Contractor that the Compensation Shares will become listed on any
other stock exchange or subject to quotation on any other quotation
system;
(h) no securities commission or similar regulatory authority has reviewed
or passed on the merits of the Compensation Shares;
(i) there is no government or other insurance covering the Compensation
Shares;
(j) there are risks associated with an investment in the Compensation
Shares, including the risk that the Contractor could lose all of its
investment;
(k) the Contractor and the Contractor's advisor(s) have had a reasonable
opportunity to ask questions of and receive answers from the Company
in connection with the distribution of the Compensation Shares
hereunder, and to obtain additional information, to the extent
possessed or obtainable without unreasonable effort or expense,
necessary to verify the accuracy of the information about the Company;
(l) the books and records of the Company were available upon reasonable
notice for inspection, subject to certain confidentiality
restrictions, by the Contractor during reasonable business hours at
its principal place of business, and all documents, records and books
in connection with the distribution of the Compensation Shares
hereunder have been made available for inspection by the Contractor,
the Contractor's lawyer and/or advisor(s);
<PAGE>
-8-
(m) the Company will refuse to register any transfer of the Compensation
Shares not made in accordance with the provisions of Regulation S,
pursuant to an effective registration statement under the 1933 Act or
pursuant to an available exemption from the registration requirements
of the 1933 Act;
(n) the statutory and regulatory basis for the exemption claimed for the
offer of the Compensation Shares, although in technical compliance
with Regulation S, would not be available if the offering is part of a
plan or scheme to evade the registration provisions of the 1933 Act;
and
(o) the Contractor has been advised to consult the Contractor's own legal,
tax and other advisors with respect to the merits and risks of an
investment in the Compensation Shares and with respect to applicable
resale restrictions, and it is solely responsible (and the Company is
not in any way responsible) for compliance with:
(i) any applicable laws of the jurisdiction in which the Contractor
is resident in connection with the distribution of the
Compensation Shares hereunder, and
(ii) applicable resale restrictions.
7.3 Representations, Warranties and Covenants of the Contractor. The Contractor
hereby represents and warrants to and covenants with the Company (which
representations, warranties and covenants shall survive the end of the expiry of
the Term or early termination of this Agreement) that:
(a) The Contractor is a U.S. Person and is an "accredited investor" as
that term is defined in Rule 501 of Regulation D promulgated under the
1933 Act;
(b) the Contractor is not acquiring the Compensation Shares for the
account or benefit of, directly or indirectly, any U.S. Person;
(c) the sale of the Compensation Shares to the Contractor as contemplated
in this Agreement complies with or is exempt from the applicable
securities legislation of the jurisdiction of residence of the
Contractor;
(d) the Contractor is acquiring the Compensation Shares for investment
only and not with a view to resale or distribution and, in particular,
it has no intention to distribute either directly or indirectly any of
the Compensation Shares in the United States or to U.S. Persons;
(e) the Contractor is executing this Agreement and is acquiring the
Compensation Shares as principal for the Contractor's own account, for
investment purposes only, and not with a view to, or for, resale,
distribution or fractionalisation thereof, in whole or in part, and no
other person has a direct or indirect beneficial interest in such
Compensation Shares;
(f) the entering into of this Agreement and the transactions contemplated
hereby have been duly authorized by all necessary corporate action on
the part of the Contractor;
(g) the entering into of this Agreement and the transactions contemplated
thereby will not result in the violation of any of the terms and
provisions of any law applicable to the Contractor, or of any
agreement, written or oral, to which the Contractor may be a party or
by which the Contractor is or may be bound;
<PAGE>
-9-
(h) the Contractor has duly executed and delivered this Agreement and it
constitutes a valid and binding agreement of the Contractor
enforceable against the Contractor in accordance with its terms;
(i) the Contractor has the requisite knowledge and experience in financial
and business matters as to be capable of evaluating the merits and
risks of the prospective investment in the Compensation Shares and the
Company;
(j) the Contractor is not an underwriter of, or dealer in, the common
shares of the Company, nor is the Contractor participating, pursuant
to a contractual agreement or otherwise, in the distribution of the
Compensation Shares;
(k) the Contractor is not aware of any advertisement of pertaining to the
Company or any of the Compensation Shares; and
(l) no person has made to the Contractor any written or oral
representations:
(i) that any person will resell or repurchase any of the Compensation
Shares;
(ii) that any person will refund the purchase price of any of the
Compensation Shares;
(iii)as to the future price or value of any of the Compensation
Shares; or
(iv) that any of the Compensation Shares will be listed and posted for
trading on any stock exchange or automated dealer quotation
system or that application has been made to list and post any of
the Compensation Shares of the Company on any stock exchange or
automated dealer quotation system, except that currently certain
market makers make market in the common shares of the Company on
the OTC Bulletin Board.
7.4 Legending of Compensation Shares. The Contractor hereby acknowledges that
upon the issuance thereof, and until such time as the same is no longer required
under the applicable securities laws and regulations, the certificates
representing any of the Compensation Shares will bear a legend in substantially
the following form:
NONE OF THE SECURITIES REPRESENTED HEREBY HAVE BEEN REGISTERED
UNDER THE 1933 ACT, OR ANY U.S. STATE SECURITIES LAWS, AND,
UNLESS SO REGISTERED, MAY NOT BE OFFERED OR SOLD, DIRECTLY OR
INDIRECTLY, IN THE UNITED STATES (AS DEFINED HEREIN) OR TO U.S.
PERSONS EXCEPT IN ACCORDANCE WITH THE PROVISIONS OF REGULATION S
UNDER THE 1933 ACT, PURSUANT TO AN EFFECTIVE REGISTRATION
STATEMENT UNDER THE 1933 ACT, OR PURSUANT TO AN AVAILABLE
EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE
REGISTRATION REQUIREMENTS OF THE 1933 ACT AND IN EACH CASE ONLY
IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS. IN ADDITION,
HEDGING TRANSACTIONS INVOLVING THE SECURITIES MAY NOT BE
CONDUCTED UNLESS IN COMPLIANCE WITH THE 1933 ACT. "UNITED STATES"
AND "U.S. PERSON" ARE AS DEFINED BY REGULATION S UNDER THE 1933
ACT.
7.5 The Contractor hereby acknowledges and agrees to the Company making a
notation on its records or giving instructions to the registrar and transfer
agent of the Company in order to implement the restrictions on transfer set
forth and described in this Agreement.
<PAGE>
-10-
ARTICLE 8
MISCELLANEOUS
8.1 Notices. All notices required or allowed to be given under this Agreement
shall be made either personally by delivery to or by facsimile transmission to
the address as hereinafter set forth or to such other address as may be
designated from time to time by such party in writing:
(a) in the case of the Company, to:
VerifySmart Corp.
Fort Legend Towers, Suite 2002 - 3rd Avenue corner 31st Street
E-Square, Fort Bonifacio Global City, Taguig Metro Manila, Philippines
Attention: Ralph Santos
(b) and in the case of the Contractor to:
New Vision Consulting Corporation
12714 Melrose, Overland Park, KS 66213
Attention: Shawn A. Becker
8.2 Change of Address. Any party may, from time to time, change its address for
service hereunder by written notice to the other party in the manner aforesaid.
8.3 Independent Legal Advice. The Contractor acknowledges that:
(a) this Agreement was prepared by W.L. Macdonald Law Corporation for the
Company;
(b) W.L. Macdonald Law Corporation received instructions from the Company
and does not represent the Contractor;
(c) the Contractor has been requested to obtain his own independent legal
advice on this Agreement prior to signing this Agreement;
(d) the Contractor has been given adequate time to obtain independent
legal advice;
(e) by signing this Agreement, the Contractor confirms that he fully
understands this Agreement; and
(f) by signing this Agreement without first obtaining independent legal
advice, the Contractor waives his right to obtain independent legal
advice.
8.4 Entire Agreement. As of from the date hereof, any and all previous
agreements, written or oral between the parties hereto or on their behalf
relating to the appointment of the Contractor by the Company are null and void.
The parties hereto agree that they have expressed herein their entire
understanding and agreement concerning the subject matter of this Agreement and
it is expressly agreed that no implied covenant, condition, term or reservation
or prior representation or warranty shall be read into this Agreement relating
to or concerning the subject matter hereof or any matter or operation provided
for herein.
<PAGE>
-11-
8.5 Further Assurances. Each party hereto will promptly and duly execute and
deliver to the other party such further documents and assurances and take such
further action as such other party may from time to time reasonably request in
order to more effectively carry out the intent and purpose of this Agreement and
to establish and protect the rights and remedies created or intended to be
created hereby.
8.6 Waiver. No provision hereof shall be deemed waived and no breach excused,
unless such waiver or consent excusing the breach is made in writing and signed
by the party to be charged with such waiver or consent. A waiver by a party of
any provision of this Agreement shall not be construed as a waiver of a further
breach of the same provision.
8.7 Amendments in Writing. No amendment, modification or rescission of this
Agreement shall be effective unless set forth in writing and signed by the
parties hereto.
8.8 Assignment. Except as herein expressly provided, the respective rights and
obligations of the Contractor and the Company under this Agreement shall not be
assignable by either party without the written consent of the other party and
shall, subject to the foregoing, enure to the benefit of and be binding upon the
Contractor and the Company and their permitted successors or assigns. Nothing
herein expressed or implied is intended to confer on any person other than the
parties hereto any rights, remedies, obligations or liabilities under or by
reason of this Agreement.
8.9 Severability. In the event that any provision contained in this Agreement
shall be declared invalid, illegal or unenforceable by a court or other lawful
authority of competent jurisdiction, such provision shall be deemed not to
affect or impair the validity or enforceability of any other provision of this
Agreement, which shall continue to have full force and effect.
8.10 Headings. The headings in this Agreement are inserted for convenience of
reference only and shall not affect the construction or interpretation of this
Agreement.
8.11 Number and Gender. Wherever the singular or masculine or neuter is used in
this Agreement, the same shall be construed as meaning the plural or feminine or
a body politic or corporate and vice versa where the context so requires.
8.12 Time. Time shall be of the essence of this Agreement. In the event that any
day on or before which any action is required to be taken hereunder is not a
business day, then such action shall be required to be taken at or before the
requisite time on the next succeeding day that is a business day. For the
purposes of this Agreement, "business day" means a day which is not Saturday or
Sunday or a statutory holiday in Reno, Nevada, U.S.A.
8.13 Enurement. This Agreement is intended to bind and enure to the benefit of
the Company, its successors and assigns, and the Contractor and the personal
legal representatives of the Contractor.
8.14 Counterparts. This Agreement may be executed in several counterparts, each
of which will be deemed to be an original and all of which will together
constitute one and the same instrument.
8.15 Currency. Unless otherwise provided, all dollar amounts referred to in this
Agreement are in lawful money of the United States of America.
8.16 Electronic Means. Delivery of an executed copy of this Agreement by
electronic facsimile transmission or other means of electronic communication
capable of producing a printed copy will be deemed to be execution and delivery
of this Agreement as of the effective date of this Agreement.
8.17 Proper Law. This Agreement will be governed by and construed in accordance
with the law of Nevada. The parties hereby attorn to the jurisdiction of the
Courts in the Province of Nevada.
<PAGE>
-12-
IN WITNESS WHEREOF, the parties have duly executed this Agreement as of the
day and year first above written.
VERIFYSMART CORP.
Per: /s/ Ralph Santos
-------------------------------------
Ralph Santos, President
NEW VISION CONSULTING CORPORATION
Per: /s/ Shawn A. Becker
-------------------------------------
Shawn A. Becker, President
<PAGE>
-13-
SCHEDULE A
Pursuant to the Consulting Agreement, the Contractor will perform the following
services:
INVESTOR RELATIONS (including company information dissemination to interested
parties, inquiry responses, assistance with company events, assistance with
AGMs, advertising, etc.). In this regard, the Consultant acknowledges and agrees
that it is of principal importance to the Company that the Consultant initiates
contact with and introduces the Company to relevant industry analysts,
institutional and retail investors throughout North America and Europe.
GENERAL SHAREHOLDER RELATIONS (including responding to shareholder inquiries,
proper disclosure, news release and update dissemination, assistance with other
disclosure issues, etc.)
INVESTOR DATABASE DEVELOPMENT (creation and maintenance of an investor and
shareholder database to be used for full, proper and timely disclosure).
CORPORATE CONSULTATION (including assistance with internal company matters, news
release and reporting issues, possible finance issues, etc.).
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
VSMR consultant Shawn A. Becker involved in stockscam http://www.sec.gov/News/PressRelease/Detail/PressRelease/1370541731661
More history on DAN SCAMMELL. A TRUE CROOK THAT SHOULD BE IN JAIL. DO NOT BUY INTO HIS SCAM COMPANIES.
http://www2.canada.com/vancouversun/columnists/story.html?id=be100ce1-34a9-4df7-8155-7380a5f93a58&p=1
Seed stock deals risky, if not 'outright scams'
David Baines, Vancouver Sun
Published: Tuesday, February 10, 2009
It's been a long time since I talked with Vancouver stock promoter Dan Scammell. Twenty-three years, in fact. You would think he would be glad to hear from me, but he wasn't.
"Why should I talk to you?" he snarled. "You don't care about the facts. You're going to write whatever you want."
I had wanted to talk about his latest deal, VerifySmart Corp., which is developing software to prevent credit card fraud.
The technology enables a credit-card holder to register his card, so whenever an item is charged to his card, he gets a call on his cellphone providing details of the purchase and asking him to accept or decline the transaction using his confidential PIN or password.
Scammell is the company's president and chief executive officer. To bring the product to market, he is selling shares privately to investors under exemptions from prospectus and registration requirements.
Such "seed stock" deals are risky business. Although they give investors the opportunity to get in on the "ground floor," the company may never get off the ground. And because the company is still private, it is not legally required to provide the sort of information that public companies must -- such as quarterly financial statements. In many cases, the company wilts and dies, leaving investors wondering what happened to their money.
"Year in and year out, they are our leading source of complaints and investigations," says Lang Evans, head of enforcement for the B.C. Securities Commission.
"Tens of millions of dollars are lost each year in B.C. alone. At best, these are very high-risk deals; at worst, they are outright scams."
Scammell's biography, posted on the company's website, boasts that: "Dan has 20 years of experience with public companies, and has a vast experience raising capital for them, especially in the crucial stages of initial and bridge financing."
It's quite true he has had experience with public companies, but most have ended badly for investors.
I first met Scammell in 1986 when he was promoting a Vancouver Stock Exchange company called Caneco-Audio Publishers Inc., which proposed to acquire a device called PockeTalk, a "fully-patented Walkman-sized tape recorder that can play a full novel on one 16-hour tape instead of eight two-hour tapes."
The stock soared from three cents to a high of $2.70, then the deal was cancelled and the stock tanked.
Two years later, Scammell was promoting a VSE company called Capital Reserve Inc. for West Vancouver promoter Jerome Rak. This time the gadget was a machine that could test drug and alcohol levels by electronically measuring eye movements.
Scammell helped in Rak's office, touting unsuspecting members of the public. His name appeared on promotional literature, he was granted stock options, and he was appointed to the board (although it's not clear his appointment was ever ratified.)
The stock rose to $2.85 in heavy volume, allowing Rak to dump a million shares into the market. The commission eventually intervened and suspended him from the market for eight years. Five others were also suspended for varying periods. Scammell was not accused of any wrongdoing.
When I talked to Scammell last week, he denied he played any part in the deal. "I was not involved with Capital Reserve," he stated unequivocally, which struck me as rather curious since he was named six times in the commission decision.
Four years later -- in 1992 -- Scammell dove into another VSE snake pit, Axagon Resources Ltd.
Axagon had acquired rights to a non-corrosive, non-toxic salt substitute to melt snow and ice from two Pennsylvania promoters, Jay and Steven Greenwald. Once again, Scammell provided investor relations services, this time through a private company called Seahorse Holdings.
The stock soared to more than $7 after the company announced sales had jumped to $7.9 million and earnings to $2.4 million. But it was later revealed the sales were bogus, and Steven Greenwald had two prior criminal convictions.
The stock collapsed and the commission held a hearing. Greenwald was suspended for 20 years and his brother for 15 years. Once again, Scammell was not accused of any wrongdoing.
When I raised these matters with Scammell, he accused me of dredging up ancient history. He said he hasn't been involved in any public companies since then.
Indeed, I could find no evidence that Scammell has been involved in any public companies, either here or in the United States, since the Capital Reserve debacle. But that raises the question, what is he referring to when he invokes his "20 years of experience with public companies," and his "vast experience raising capital for them"? All I can see is a few years of bottom-feeding on the VSE.
Scammell says that, since the Capital Reserve fiasco, he has only been involved in private companies. When I asked whether any have made money, he replied, "Of course," but declined to name any.
"Why should I bring you up to date? You don't do your homework," he huffed, apparently not realizing I was trying to do my homework.
With regard to VerifySmart, Scammell has been churning out a series of boosterish news releases that suggest the company is on the brink of generating massive cash flow.
On Nov. 6, he announced it had "signed the high-volume merchant, e-Processor PLC.... Revenues are anticipated to be $200 million by the end of the 2009 fiscal year." He said the company's share will start at five per cent ($10 million per year) and increase to 10 per cent ($20 million per year).
On Nov. 17, he hinted at even greater riches: "By bringing several sizable merchants on-stream over the next 30 days, we are well on our way to carving out a significant share of the $8.5-trillion commerce market."
Featured prominently on Verify-Smart's website is George Lois, the company's vice-president of marketing and business development.
Lois is an award-winning art and advertising director, best known for his brilliant covers for Esquire magazine from 1962 to 1972. He also created many successful advertising campaigns for companies such as MTV, Jiffy Lube and Tommy Hilfiger.
"He is capable of taking $1 million and turning it into $10 million worth of advertising," Scammell said in a release. "George actually said in VSC's case, it is more like a ratio of $1 million to $20 million."
But at age 77, Lois may not be as effective as he once was. In 2001, he became chairman of a Nevada-registered company called Thinka Weight-loss Corp., a former Vancouver bulletin board shell company that planned to market a "liquid, low-carbohydrate, high-protein, weight-loss product."
By late 2002, Thinka hadn't generated a single dollar of sales. Lois resigned, and the company acquired a California insurance company that had developed "a unique proprietary emergency travel assistance benefits package."
Scam Run by Dan Scammell. Report this guy to the SEC before you lose your money
Read here:
http://www.vancouversun.com/business/Baines+Coquitlam+stock+promoter+associate+suspended+from/6633706/story.html
Baines: Coquitlam stock promoter, associate suspended from B.C.
BY DAVID BAINES, VANCOUVER SUN MAY 16, 2012
Baines: Coquitlam stock promoter, associate suspended from B.C.
Vancouver Sun business columnist David Baines.
Photograph by: PNG files , .
Long time Coquitlam stock promoter Dan Scammell and associate Caspar de Beer have been turfed from the B.C. securities market for at least five years after a B.C. Securities Commission hearing panel found they illegally sold $1.2 million worth of shares in two private companies.
The hearing panel — headed by BCSC vice-chairman Brent Aitken — also ordered the two men to disgorge to the commission the $1.2 million they illegally raised.
“As a matter of principle, we agree that if capital is raised in contravention of the Securities Act, it follows that it is appropriate that the amount raised be disgorged to the commission,” the panel stated in its decision, released Wednesday.
“If we collect any of the $1.2 million, it will go to the investors,” BCSC communications officer Richard Gilhooley said in an interview.
The panel also ordered the pair to pay $50,000 each in administrative penalties.
Until they pay the required amounts, their suspensions will remain in effect, even if the five-year period has expired.
This matter first came to public attention in February 2009 when The Vancouver Sun reported that Scammell was selling seed shares of VerifySmart Corp.
The company was developing software to prevent credit card fraud. Scammell told investors that a high-volume merchant processor had signed on to the company’s technology.
He projected revenues would climb to $200 million by the end of fiscal 2009, and the company’s share would start at five per cent ($10 million) and increase to 10 per cent ($20 million per year).
In March 2009, VerifySmart and a related company, Verified Transactions Corp., entered into a joint-venture licensing deal with a Nevada shell company, Treasure Explorations Inc., which traded on the OTC Bulletin Board in the United States.
The shell then changed its name to Verify Smart Corp. and embarked on an aggressive promotion.
Among other things, the company hired a California-based stock tout service, Cohen Independent Research Group Inc., to prepare an “independent” research report projecting millions of dollars in net profits and a soaring stock price.
However, the promised sales never materialized and investors were left with worthless paper.
In November 2010, BCSC enforcement staff issued a notice of hearing alleging that, from 2006 to 2009, Scammell and de Beer had sold $1.2 million worth of shares of VerifySmart and Verified Transactions to 99 investors in Canada and the United States without filing a prospectus and without being registered to sell or advise in securities.
The pair claimed they sold the shares under exemptions to prospectus and registration requirements, as provided in the Securities Act, specifically an exemption allowing for the sale of shares to friends, family members and business associates. However, the BCSC enforcement staff maintained that the purchasers did not fall into any of these categories.
A hearing was held in July 2011, and in December 2011, the panel found that Scammell and de Beer sold the shares without meeting prospectus and registration requirements.
In considering appropriate sanctions, the panel said there is no evidence Scammell and de Beer benefited from their misconduct. On the contrary, the panel said, it appears that both lost money.
However, the panel said, “there is evidence of significant harm to investors … There is no market for the securities the investors purchased, nor is there any evidence that their investments have any present or future value.”
The panel noted there was no evidence that either man has any regulatory history.
Not mentioned was the fact that Scammell has touted many penny stock flame-outs, including Caneco Audio Publishers Inc. (an extended-play tape recorder for novels); Capital Reserve Inc. (an optical device for measuring alcohol and drug impairment); and Axagon Resources Ltd. (a salt-free ice-melting compound).
Two of these deals, Capital Reserve and Axagon, became the subject of regulatory action. Although a player in both, Scammell was never cited for any wrongdoing.
Read more: http://www.vancouversun.com/business/Baines+Coquitlam+stock+promoter+associate+suspended+from/6633706/story.html#ixzz2rdSEpvnz
Scam company run by DAN SCAMMELL This company is a ponzi scheme run by Dan Scammell. Protect yourself from this Canadian crook. Read Here: http://www.bcsc.bc.ca/release.aspx?id=14848
2012/43
May 16, 2012
BCSC panel sanctions two men for illegally trading and distributing securities
Vancouver – A British Columbia Securities Commission panel has sanctioned two men and two companies for illegally raising money from Canadian and U.S. investors.
In December 2011, a commission panel found that Daniel Scammell, Casper de Beer (aka Casha de Beer), Verified Transactions Corp. (VTC) and VerifySmart Corp. (formerly known as Verified Capital Corp.) traded in securities without being registered in B.C., and distributed those securities without filing a prospectus.
From September 2006 to December 2008, Scammell and VTC raised $641,309 from 49 investors in B.C., Alberta and Washington State. The panel found that these securities were distributed illegally, as the exemptions from B.C. securities laws relied upon by Scammell and VTC did not apply to any of the distributions. Additionally, neither Scammell nor VTC were registered to trade securities, and VTC has never filed a prospectus in B.C.
From November 2008 to March 2009, de Beer and VerifySmart distributed shares in that company to 50 investors in British Columbia, Alberta, Saskatchewan, Manitoba and Ontario, raising a total of $575,000. The panel also found these securities to have been distributed illegally, as the exemptions from B.C. securities laws relied upon by de Beer and VerifySmart did not apply to any of the distributions. Additionally, neither de Beer nor VerifySmart were registered to trade securities, and VerifySmart has never filed a prospectus in B.C.
For their misconduct, Scammell and deBeer are both prohibited from trading in securities, purchasing securities or exchange contracts (with limited exceptions), and from becoming or acting as a director or officer of any issuer, registrant, or investment fund manager for five years. They are also prohibited, for the same period, from becoming or acting as a registrant, investment fund manager or promoter, from engaging in investor relations activities, and from acting in a management or consultative capacity in connection with the securities market.
The panel also ordered Scammell and deBeer to pay to the commission the $1.2 million they obtained as a result of their illegal activity, as well as administrative penalties of $50,000. The prohibitions remain in place until the later of May 14, 2017 and the date these amounts have been paid.
In addition to the orders against Scammell and deBeer, Verified Transactions Corp. and VerifySmart Corp. were permanently cease-traded by the panel.
The B.C. Securities Commission is the independent provincial government agency responsible for regulating trading in securities within the province. You may view the decision on our website, www.bcsc.bc.ca, by typing Scammell, deBeer, VerifySmart Corp, Verified Transactions Corp, or 2012 BCSECCOM 176 in the search box. Information regarding disciplinary proceedings can be found in the Enforcement section of the BCSC website.
Please visit the Canadian Securities Administrators’ Disciplined Persons List for information relating to persons disciplined by provincial securities regulators, the Investment Industry Regulatory Organization of Canada (IIROC) and the Mutual Fund Dealers Association (MFDA).
If you have questions, contact Richard Gilhooley, media relations, 604-899-6713. For public inquiries, call 604 899 6854 or 1 800 373 6393 (toll free).
Learn how to protect yourself and become a more informed investor at www.investright.org
Big jump back into the .20's getting started. A nice one day drop, is equally moving back in another one day. This hasnt been this low in a year. It isnt going to remain low, as its lining up to immediately recover. I hope some took advantage of the one, and only one day drop to ridiculous levels. There is no real resistance until its comfortably back in the .20 to .25 cent range.
Verify Smart Corp signs Vic Darchinyan, Professional Boxer, to its Privi Celebrity Services
FERNLEY, Nev., May 29, 2013 /PRNewswire/ -- Verify Smart Corporation (VSMR), a global innovator in the digital content distribution market, today announced the signing of 8 time world champion boxer Vic Darchinyan to its Privi Celebrity Services.
http://finance.yahoo.com/news/verify-smart-corp-signs-vic-143000897.html
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