Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
I have been right all along.
And I am right now.
And yes, I do have more knowledge and many others. There are a lot of amateurs here that have no clue about finance, stocks, and how the markets work. But yet they are telling people to BUY BUY BUY this worthless POS.
It means I bust frauds, scams, and pump and dumps.
COWI is at least one of those. Maybe all 3.
I think you should check my posts, new poster.
COWI is, and always has been, a pump and dump. And now they are completely insolvent, and it is very likely that they will never file again.
The end is near.
I do not now, nor have I ever, owned a single share of this POS.
I know how to read SEC filings and evaluate financial statements. I am not stupid enough to have ever given lying and scamming Lloyd Spencer a single penny.
Too bad all the people now stuck with this worthless, dark stock can't say the same thing.
COWI being a penny stock is immaterial.
What matters is that it is an insolvent, lying pump and dump scam.
This is the FOURTH pump and dump that Lloyd has run on COWI. And every time, there are idiots who fail to do any research and somehow believe that Lloyd Spencer is honest and on the level, and that the current business plan has any validity and chance of success.
He isn't, and it doesn't.
How is the 10-K going? Oh yes, as I predicted, it was not filed.
Which makes COWI, AGAIN, delinquent and dark.
The odds of ever hearing from COWI again are falling fast.
And it looks like many people that were fooled by Lloyd are now realizing the truth about him and COWI.
You will lose 100% of your "investment" here.
You will lose 100% of your "investment". People really need to learn how to read SEC filings because the "knowledgeable investors": are the exact opposite. They don't know, or understand, a damn thing about finance and investing. Which is certainly why they own this worthless insolvent POS.
Nope, not how it works. You also forget something else. The spin-off company is also BROKE. Not quite insolvent like COWI, but still broke. At the date of the last balance sheet, which is now over 6 months old, they had a whopping $496 in cash. Can't even file an S-1 amendment without raising more money - perhaps that is why no amendment has yet to be filed?
They will have to sell a TON of stock to get the money they need just to keep the doors open, much less actually conduct any operations (assuming they actually have any). COWI's shares will be diluted down to virtually nothing.
No, they won't. Why would the spinoff stock be valued at more than 1000 times more than when COWI owned 100% of the spinoff company?
When COWI owned 100% of it COWI's total market cap was $2-4 million total. But now you claim a small fraction of the spinoff held by COWI will be worth $25+ million, which would value the entire spinoff at hundreds of millions of dollars?
No, it won't. That is not how the market works. That is just plain ridiculous.
COWI is insolvent with 4 TRILLION of convertible toxic debt shares and very likely about to go dark. Even if that were not the case, there is no reason to hold it, much less buy it, now. Any possible value, and that is using the term "value" very speculatively, is in the spinoff. The record date for that was a year ago. Anyone buying the stock since then gets.....NOTHING.
SEC Charges Canadian Attorney for Selling Billions of Shares of Stock on Behalf of Others in Violation of Broker Registration Requirements
Hmmm.....the penalty seems rather light compared to other, similar violations. The complaint only details his illegal conduct on behalf of Charlie Abujudeh, but also notes he was just one of his clients. I wonder if he gave up the dirt on his other clients and we have yet to hear about those cases, which is why they were not named.
https://www.sec.gov/litigation/litreleases/lr-25971
https://www.sec.gov/files/litigation/complaints/2024/comp25971.pdf
On April 8, 2024, the Securities and Exchange Commission charged Canadian attorney Mark Borden with selling billions of penny stock shares on behalf of others without registering with the Commission as a broker, thereby violating the securities laws. Borden has agreed to settle the case by, among other things, paying over $335,000 in disgorgement of ill-gotten gains, prejudgment interest, and a civil penalty.
According to the SEC's complaint, between 2017 and April 2021, Borden sold penny stocks on behalf of his customers without registering with the Commission as a broker or being associated with a registered broker. Borden allegedly did so by taking possession of the stock, drafting documents that appeared to transfer ownership of the shares to himself, depositing that stock in accounts he controlled at various brokerage firms, selling those shares to retail investors often in coordination with stock promotion campaigns funded by his customers, and keeping a commission of the stock sale proceeds before disbursing the remainder to his customer. The SEC alleges that Borden and his customers understood that the customer retained beneficial ownership of the stock at all times and would receive the vast majority of the stock sale proceeds. For example, one of Borden's customers allegedly received over $15 million in stock sale proceeds from Borden in less than three years.
The SEC's complaint, filed in federal district court in the Eastern District of New York, charges Borden with violating the securities registration provisions of Section 15(a)(1) of the Securities Exchange Act of 1934. Without admitting or denying the allegations, Borden consented to the entry of a final judgment permanently enjoining him from future violations of the charged provisions. In addition, Borden consented to a penny stock bar. Borden agreed to pay a $70,000 civil penalty, $231,363 in disgorgement, and $33,907 in prejudgment interest. The settlement is subject to court approval.
The SEC's case is being handled by Nita Klunder, David D'Addio, and Paul Block of the Boston Regional Office.
I think the name "Black Box Management" should have been an important clue!
'Catastrophic loss': $150 million bilked from investors in Ponzi-like scheme, Alberta Securities Commission says
https://calgaryherald.com/business/investors-lose-150-million-ponzi-like-scheme-alberta-securities-commission
Investors lost $150 million between them to a fraudulent investment scheme that lasted some 3½ years, an Alberta regulator said.
It’s alleged Craig Michael Thompson and two companies he controlled, Black Box Management Corp. and Invader Management Ltd., used money from about 1,000 investors between March 2020 and September 2023 to pay other investors instead of using the funds for investment purposes, the Alberta Securities Commission said in a statement issued Friday.
“In the fall of 2023, Thompson advised investors that there had been a catastrophic loss,” the ASC said. “Based on the investigation, Thompson ran out of sufficient funds to sustain the Ponzi-like scheme.”
Most of the defrauded individuals gave money to Thompson to trade in securities while a smaller number provided funds for investment in a business involved in invoice factoring, the regulator said.
The allegations have not been tested by a formal hearing, which is scheduled in Calgary on May 21.
The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), Texas State Securities Board and United States Securities and Exchange Commission (SEC) aided in the investigation, the ASC said.
Disney admits defeat over Reedy Creek and drops its lawsuits against Florida and DeSantis.
Didn't we have a discussion here some time back about Disney and Reedy Creek? I believe I asserted that their last minute deal with their own appointed Reedy Creek Board to bypass the new Board wouldn't survive. And today, that prediction came true. Disney has thrown in the towel. They will no longer be able to govern themselves.
https://www.latimes.com/entertainment-arts/business/story/2024-03-27/disney-florida-lawsuit-settlement
it looks like shares of other, non-Disney entertainment companies with Orlando operations have traded up on the news. They will no longer suffer under this disadvantage of not having their own government like Disney did. It levels the playing field a bit.
Buying and holding a meme stock can be very dangerous to a person's financial health.
But so can shorting it - even more so due to the nature and conditions of shorting.
The only thing we do know is that the stock is going to be volatile. Very volatile, which will make it a favorite of traders and Trump fans.
As far as it being a "dumb social media garbage site", so was Reddit and look what it did this week. And Google was once just a search engine, and Meta was once just a bunch of college student's pictures and contact information.
In other words, it isn't what the site is now, it is about what they are able to leverage it into. I personally don't go for Truth Social or want to buy the stock, but even sitting on the sidelines I wouldn't be so quick to dismiss it as never amounting to anything, even if the odds are not great.
Chelekis did business with a lot of organized crime groups. It easily may have been his largest source of income.
He was found guilty 2 days ago. Justice moves slowly in Canada. Now they will have to have ANOTHER hearing next month to determine penalties.
https://www.capitalmarketstribunal.ca/en/proceedings/decisions-in-brief/decision-brief-valentine-enforcement-proceeding-merits-march-20-2024
https://www.capitalmarketstribunal.ca/sites/default/files/2024-03/rad_20240320_valentine.pdf
Nope, but I bet that they probably ran ads in the Globe and Mail and Financial Post. Go take a look at issues from that time and you will probably find what you are looking for.
Let's see what the SEC does. The case was dismissed without prejudice, which means it can be refiled in the future. Personally, I think the judge is wrong, and the relevant statues say otherwise. Hundreds of other judges, including the US Supreme Court, see it the opposite way of this judge, so I doubt the SEC will let this one lie. Especially because many of the victims DID buy stock directly from the accused. That is how pump and dumps work, and suggests this Judge doesn't understand how the stock market operates (which is another reason why Administrative Law Courts were created - many of the broader courts don't understand the laws and regulations specific to certain areas, like finance and securities).
There are just wacky judges out there with their own strange ideas and opinions. That is why appeals courts and the Supreme Court exist. They are there to fix those erroneous rulings.
You really are happy to hand scammers your money just to "YOLO"? How stupid is that?
COWI has zero chance of success. You should find some other place, one that actually MAY provide a positive return, to YOLO, because COWI ain't it.
If you don't believe me, you will find out soon enough.
Hopefully all Millennials are not as stupid as you.
But, I don't really believe you are buying ANY COWI at all. Instead, you are just playing around in an attempt to irritate another member you followed here from another board, nothing more. It is all hot air.
Getting desperate to keep the pump going?
The toxic death spiral convertible debt holders have 4 TRILLION shares to sell. Is $10K really going to make a difference to the stock price? Certainly not, but I am sure that Lloyd Spencer and his toxic debt friends will be happy to take every penny of that from this shareholder, just as they have from all the others.
Yup, prepare to lose it. COWI is an insolvent pump and dump that is about to go dark and disappear. No stock can survive when the toxic floorless debt holders are flooding the market with an unlimited (4 trillion new shares right now) amount of stock they acquire for $0.00000035 and sell at $0.0001. Stocks don't rise in those cases - they crash. And once COWI runs out of ignorant and idiot buyers, the stock price will crater to nothing.
It won't be long, either. Their 10-K is due in about 10 days, and the odds of them actually filing it are slim to none. And I believe I see slim boarding a train out of town as we speak.
Yeah, sure. NO one else is able to do that, as the toxic death spiral convertible debt holders completely control the market.
So I don't believe a word of it. I think instead you are pretending to buy this worthless, insolvent ticker in a pathetic attempt to irritate a person you call a "basher", who couldn't care less what you do.
But good luck with that anyway.
The toxic death spiral convertible holders thank you for transferring their money to them.
You buy the shares at $0.0002 that they acquire seconds before at $0.00000035. What a deal! And they have 4 TRILLION shares available to convert and sell you, so you will be able to buy at these prices, or lower, forever!
You might save some time just by cutting them a check directly.
I believe Lloyd has already used that lie in one of the many prior pump and dumps he has run on this ticker. Lloyd has no shame, and will try anything to make a buck off of the foolish shareholders who seem to believe anything.
Unless he obtains that information from somewhere, but if he didn't have it the first time he filed, I think it is unlikely he will be able to get it now.
So yes, the claim of filing a new registration in 2025 is likely complete BS.
I don't know about RH, but I believe other financial institutions did the same thing. They might also be in line for punishment, as it was all the rage during COVID to pay "influencers" for advertising. This case was not that much of an outlier.
As you know, the Feds charged a number of crypto related businesses for doing this, and the crypto influencers who failed to disclose their compensation. This action seems to signal the regulators are moving on to other financial areas. Such a clean up is overdue.
FINRA Fines M1 Finance $850,000 for Violations Regarding Use of Social Media Influencer Program
First Social Media Influencer-Related FINRA Enforcement Disciplinary Action
https://www.finra.org/media-center/newsreleases/2024/finra-fines-m1-finance-850000-violations-regarding-use-social-media
March 18, 2024
WASHINGTON—FINRA announced today that it has fined M1 Finance LLC $850,000 for social media posts made by influencers on the firm’s behalf that were not fair or balanced, or contained exaggerated, unwarranted, promissory or misleading claims. This case arises from FINRA’s targeted exam of firm practices related to the acquisition of customers through social media channels and represents the first formal FINRA Enforcement disciplinary action involving a firm’s supervision of social media influencers.
“As investors increasingly use social media to inform their financial decisions, FINRA’s rules on communicating with the public are especially critical. FINRA will continue to consider whether firms are using practices and maintaining supervisory systems that are reasonably designed to address the risks related to social media influencer programs,” said Bill St. Louis, Executive Vice President and Head of Enforcement, FINRA.
Between January 2020 and April 2023, M1 Finance paid social media influencers to post content promoting the firm, and instructed the influencers to include a unique hyperlink to the firm’s website that potential new customers could use to open and fund an M1 Finance brokerage account. M1 Finance also provided its influencers with graphics and a “Welcome Guide” that described specific services and features available through M1 Finance that influencers could highlight to make their social media posts more effective.
The firm paid influencers who participated in its program a flat fee for every new account that was opened and funded by the customer using a unique link provided by M1 Finance. The firm did not limit compensation influencers could earn. During this period, more than 39,400 new accounts were opened and funded with the help of approximately 1,700 influencers working on the firm’s behalf.
M1 Finance influencers made social media posts promoting the firm that were not fair and balanced, in violation of FINRA Rules 2210 (Communications with the Public) and 2010 (Standards of Commercial Honor and Principles of Trade). For example, an influencer advertising M1 Finance’s margin lending program stated that customers could “pay [margin loans] back at any given time . . . there is no set time period.” But in fact, investors who use margin are not entitled to any extension of time to meet the firm’s margin requirements, and the firm can, without contacting such investors, increase the maintenance margin requirement on their accounts at any time, force a sale of securities in their accounts, and choose which securities to sell, if a margin call occurs.
M1 Finance did not review or approve the content in its influencers’ posts prior to use or retain those communications, as required by FINRA rules. M1 Finance also failed to have a reasonable system, including written procedures, for supervising the communications that the firm’s influencers made on its behalf. These were in violation of FINRA Rules 2210, 2010, 3110 (Supervision) and 4511 (General Requirements-Books and Records), as well as the Securities Exchange Act of 1934 and the Exchange Act Rules.
In settling this matter, M1 Finance consented to the entry of FINRA’s findings without admitting or denying the charges. The firm also agreed to certify that it has remediated the issues identified by FINRA in a letter of acceptance, waiver and consent and implemented a supervisory system, including written supervisory procedures, that is reasonably designed to achieve compliance with Rule 2210.
This is REALITY based on the facts contained in COWI's own SEC filings and OTC disclosure.
They are insolvent. No money to even buy a stamp. So where are they going to find the cash needed to audit the financials, prepare the 10-K and file it with the SEC? No conjecture involved - they need REAL cash. Cash they do not have. For the last 10-Q, they borrowed almost $100K from their spin-off, which itself is pretty much broke. So where is that cash going to come from? Professionals don't work for free.
Why didn't they issue an 8-K for that last "important" piece of news but instead relied on a free service to release it? Yeah, because they are broke, but needed to stoke the pump to allow the toxic death spiral convertible holders to continue to dump into what little short-term buying enthusiasm it created.
COWI is an insolvent pump and dump, and the end is near. Even more near than people think.
COWI is insolvent. They may not even make it to the near-term that Carbon completes the registration process and begins trading (which is not guaranteed).
COWI had to borrow almost $100K from CCG just to keep the lights on in 2023. That loan is actually bigger than the book value of COWI's CCG shares, so it is possible they may eventually have to give CCG back those shares to wipe out the loan leaving COWI with nothing.
CCG, if they are a real company, has no more cash to spare to give to COWI, which means COWI is likely at the end of the line. Almost all of their massive amounts of unpaid liabilities are in default, so if COWI actually ever does get any assets of value, those creditors are well within their rights to sue COWI for repayment and take the asset, including the CCG shares. Toxic lenders are well known for doing just that. They are ruthless.
COWI's 10-K is due in about 2 weeks. What are the odds they actually file it on time? Or file it at all?
COWI is currently $25 MILLION in the hole. Their assets, including their 6,000,000 Carbon Conversion shares, is valued at....$166,100. That is a FAR cry from the $24,799,896 in current liabilities.
The value of their Carbon Conversion shares is $84,998, which is actually LESS than the $97,080 they currently owe Carbon Conversion for the cash they needed to file the last 10-Q. But even if we ignore all of that (which would be stupid, BTW), you somehow think the Carbon Conversion shares will appreciate from the original 1.4 CENTS per share to over $4.00 per share by doing nothing? Yeah, sure. That is why people are willing to throw their money away on garbage stocks like COWI. They live in a fantasy world with absolutely no connection to reality.
If the current state of the pirate barge is anything like what PT did to Mexus, it was also stripped of anything valuable which were taken by PT and his family before it was left to drift off and sink unattended while sticking the investors with the bill.
The lenders are dumping as much as they can. That is how toxic death spirals work. Right now, the toxic lenders can convert their debt into 4 TRILLION new shares of COWI. Do you really think in any sane universe they are converting and holding? HELL NO! They only make money when they convert and dump, especially because they have an almost unlimited number of shares available. They are guaranteed a MASSIVE profit for every share they sell. The only thing holding them back from dumping more is that they can find enough brain dead "investors" to buy the shares from them. They would dump more if they could, guaranteed. They are only limited by the volume.
If you actually did some DD, you would note that BOTH the O/S and the Float are increasing by similar amounts. The market is being flooded with newly issued stock. There is absolutely no question these new shares entering the market are coming from the toxic lenders converting and dumping. They ain't holding a single share - the filings and the OTCMarket disclosure prove that.
COWI is nothing but an insolvent pump and dump.
Yes, I think there are people that will think that. But they ignore that from any potential partner or acquirer's perspective, it makes much more sense for them, at this point, to strike a deal as part of a bankruptcy plan, not before.
It is the usual BS we always see in bankruptcy stocks these days - MOASS coming! Lost another 55% today.
That short-squeeze rhetoric isn't as effective as it once was since BBBY crashed and burned. That was the flagbearer for the MOASS crowd and they were left with big losses after so many gurus on social media claimed it not only would make everyone rich, but the stock would never be cancelled and cease trading. A lot of newbies either lost everything in that debacle, or learned to not listen to know-nothing amateurs.
One more time. The SEC filings DO say that. Where do you think the daily increase in the number of outstanding shares and the float are coming from then?
Issuances to the toxic death spiral convertible holders are the ONLY shares being issued, per the SEC filings. There are no other filings that would permit anyone else to be dumping to increase both the O/S and float concurrently.
Come on, give us your best explanation on why the SEC filings and OTCMarkets disclosure, both provided by Lloyd Spencer, are WRONG and you are right.
COWI is an insolvent pump and dump that never was real. From day 1, COWI was nothing more than an insider enrichment scheme to transfer shareholder money into the pockets of Lloyd Spencer and the toxic lenders.
The SEC filings DO say that. Read them. The toxic lenders ARE converting and dumping.
Have you seen the updated O/S numbers at OTCMarkets? The number of outstanding shares increased by about 200 million in just 2 days this week to about 22 BILLION. Where do you think the hundreds of millions of new shares flooding the market into the float are coming from?
US federal judge rules Corporate Transparency Act unconstitutional, future of beneficial ownership regime in limbo
Personally, I am skeptical the judge's ruling will survive appeal. I think Congress does have the power here, and what is the precedence that ownership is a secret?
https://www.thomsonreuters.com/en-us/posts/corporates/cta-unconstitutional-ruling/
A ruling out of an Alabama court saying the CTA is unconstitutional throws the whole question of requiring beneficial ownership information from companies into doubt
A U.S. District Court judge in Alabama has ruled unconstitutional the Corporate Transparency Act (CTA), which was enacted as part of the Anti-Money Laundering Act of 2020 and underpins the nascent beneficial ownership reporting regime.
The ruling’s ultimate impact on the US beneficial ownership information reporting requirement cannot be known at present, as the government is expected to appeal, although a Treasury Department official said that the department was complying with the court’s injunction.
“The Government says that the CTA is within Congress’ broad powers to regulate commerce, oversee foreign affairs and national security, and impose taxes and related regulations,” Judge Liles C. Burke wrote in the ruling, issued March 1. “The Government’s arguments are not supported by precedent. Because the CTA exceeds the Constitution’s limits on the legislative branch and lacks a sufficient nexus to any enumerated power to be a necessary or proper means of achieving Congress policy goals.”
In short, Burke’s ruling suggested that there was not a clear enough case that the CTA was supported on the grounds of national security. Judge Burke’s ruling was the product of a legal challenge brought by the National Small Business Association (NSBA) and one of its members against the Secretary of the U.S. Treasury Department.
Treasury’s CTA implementation
Treasury’s Financial Crimes Enforcement Network (FinCEN) has written rules implementing the CTA’s reporting requirements and dictating which parties will have access to the beneficial ownership information held in the database.
FinCEN’s rule defines “beneficial owner” as “any individual who, directly or indirectly, either exercises substantial control over such reporting company or owns or controls at least 25 percent of the ownership interests of such reporting company.” Tens of millions of entities, many of them small businesses, are affected by the reporting requirement, which aims to unmask the owners of complex legal entities and make it harder for criminals to abuse shell companies.
FinCEN began collecting ownership information on January 1, with plans to allow high-priority government authorities to access the data this year. It is not immediately clear, however, to what degree information collection and dissemination will be affected by Judge Burke’s decision.
The order “only applied to enjoin the CTA’s reporting requirements as to the plaintiffs, including NSBA member entities across the country,” said Thomas H. Lee, the lawyer who challenged the act on behalf of the NSBA. Lee is with Hughes Hubbard & Reed in New York. “The government may move for a stay pending appeal, but it has not yet filed.”
When asked, a Treasury official said that “Congress overwhelmingly voted to enact the bipartisan (CTA)… to crack down on illicit shell companies and combat financial crime. We are complying with the Court’s injunction and refer you to [the Department of Justice] for any further information about the case.” The Department of Justice did not immediately return a request for comment.
Last year, the nonpartisan FACT Coalition joined Transparency International U.S. and small business group, Main Street Alliance, to file an amicus brief in support of the CTA. That brief emphasized the law’s core national security function and the limited nature of the information being collected.
“Pro-crime, pro-drug cartel, pro-fentanyl ruling”
Ian Gary, executive director of the FACT Coalition, said Judge Burke’s order “is a pro-crime, pro-drug cartel, pro-fentanyl ruling which undermines the rule of law and allows criminals to use anonymous shell companies to hide their dirty money from law enforcement. Close to a million law-abiding companies have already complied with the law, and this ruling should be stayed and overturned on appeal,” Gary said in a statement.
Zorka Milin, policy director at the FACT Coalition, concurred, adding: “We urge the government to promptly appeal and to request to stay the district court’s injunction pending appeal.”
Peter Djinis, a former regulatory policy official with FinCEN, said he does “not find the court’s opinion persuasive,” adding “I will wait and see how this develops through the inevitable appellate process. This certainly throws a monkey wrench into the long-delayed implementation of the Corporate Transparency Act.”
I was not aware Zinn already had an Associate Counsel, which also says a lot.
So they need a third ranker? Yeah, that is even funnier that they would contact Basile for the job as he is far too accomplished, over experienced, and almost certainly far, far, FAR above that salary range in his current practice. Clearly the recruiter they hired is not too knowledgeable about the industry they are trying to recruit. I don't agree with Basile on a lot of things (and certainly not on MMTLP), but he is one of the most experienced lawyers in the space.