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Mofnc,
Why so skeptical? It makes perfect sense. Peter, under the guise of having talks about another plant with un-named parties is using IPWG money or I should say the Irish money to try and raise money for his airplane venture. Why would you think otherwise?
Alleyba hears.........
That the release concerning China is pure BS. Reality is that JB told people that, and I have heard it from more than one source, that under the guise of discussions for a new plant in China, which imo, is more bullsh*t, Peter is utilizing IPWG money to fly to China to try and raise money for his new company. John, how can you release this pure crap to the shareholders. Everyone knows the money will not be announced and you have the nerve to talk about a plant in China?
Who are you meeting with in China? No group or individual was mentioned. Cut the crap. Peter is flying there with our money at the expense of the shareholders.
John do not be a scape goat. Do not forget it is YOU who SIGNS the checks and resolutions. IT is YOU who signs the forms that are filed in Delaware. It is YOU who bashed the Irish in the news release. It is you who took the Irish money and put it in IPWG account and it is YOU who disbursed it and cut the checks. Where did the money from the Irish go John. How about posting an accounting of it on the message board?
If I am Peter Toscano, I would say who signd the checks, filed the forms and signed the resolutions? Not I. Whatwill you say John? You did that on advice of counsel because we are a private company. Walk the walk John.
The company diluted millions of shares in the past few months. If it went to the accountants the books would already be done. So we know the money did not go there. You said you spent it on attorneys to fight the chill yet no releases or updates on chill until you are challenged on the message board.
Are you willing to risk possibly defending lawsuits or going away for Peter Toscano? I hope not. I am still trying to do the math....the Irish own approx 30% of the shares and you need an 80% vote to take the company private and you, Peter and the BOD's have more than 20%. John how can you say in a public press release that the IRISH with their 30% are planning to take the company private?
I wonder why the Irish are sitting back. You actually lied in the press release IMO. Are you sure the time you spent in Poland did not somehow transform you into a Polack? No disrespect to people of Polish descent. John wake up. You are being put on the cross as a scape goat. You still can save yourself.....maybe.
I for one will be celebrating this weekend because I bet some shareholders 2 steak dinners to my 10 that the money will never be announced as being received this week. John...at the most international wires clear in 4-7 days. I say it will not be announced anytime soon because it is already there or you will say there was a snag in wiring the money.
I for one want to know what happened to the money the Irish paid for their legal and illegal stock. Rumor has it Peter received over 50% of it, maybe up to 75%. For the shareholders John let us hear the real story. I have more respect for your cousin who went all in at the poker tournament with pocket 10's and lost to Jacks. At least i know where that Benvengo's money went.
John you are supposed to be here for the shareholders and continually say you have their best interests at heart......prove it. Open the books and unload Toscano. Cut out the cancer. Why the board of directors stands for this is beyond me. Do they not care about their reputations, particularly Dr. Conte? The Conte name is very well respected in Northern NJ. Why would he stay on with all this crap going on?
John, John, John...you talk so much you can't remember what you say to everyone. Account for the money John. It is not Peter's personal piggy bank for himself and his family.
All of the above is opinion only. Any real names mentioned are by coincidence and do not constitute people I have personally met. Consider them ficticious names as this is my disclaimer for all past and future posts.......and John as far as your cousin is concerned he should only cash in at a final table.
Alleyba says:
To JB whose meaning of SHORTLY is anywhere from 1 day to 3 months. I am sorry if I called you the puppet master for Peter Toscano. I should have been calling you his scape goat. I just do not understand the loyalty you have to Peter Toscano. Deep down JB knows Peter Toscano has done illegal things imo. He told someone numerous times that Toscano has done underhanded things. Why the loyalty unless JB has something to hide along with the Board of Directors. JB it is your duty to let the shareholders look at the books if you have nothing to hide if you care about the shareholders as you have always said. With Peter out and the Board of Directors out, I think we can really have a great company. Without that happening we have ZERO chance.
Come on John do the right thing for the company, the shareholders and YOURSELF. Peter Toscano is done along with the Board ofdirectord. Do you want to go down with them? I do not think so. Save yourself
ALLEYBA SAYS:
John Benvengo and Peter Toscano must think all the shareholders are unintelligent morons. For months there is no PR and the minute the board comes under scrutiny...boom not 1 but 2 announcements on the same day. I have thoughts...........
1. You would expect if IPWG were a "real company" that the first announcement would have bolstered the stock since it was announced NOT THAT WE HAD THE MONEY, but the money is on the way being wired and will be received shortly The stock went down initially. Can it be because Peter Toscano is still with the company as COO? Maybe no one trusts the man. IMO and I am willing to bet and you heard it first from Alleyba..........THE MONEY, IF IT IS EVER GOING TO BE RECEIVED WILL NOT BE RECEIVED WITHIN 30 days. WHY? Because this is a stall tactic by Toscano and JB to shut us up. I investigated the time it takes to receive overseas wires in that amount. Worst case sceanario typically 4 to 7 days. Benvengo will allege the funds are being held up by the country from where the funds are coming or allege some similar bullshit in my opinion. One thing you can take to the bank is that the money will not be announced as being in for 30 days because everyone is of the opinion they are full of crap.
2. Speaking of crap, I think the posturing of the alleged takeover by the Irish is preposterous. They MAY only own 30% of the outstanding stock and they have only asked to see where their money went when they gave their money to the company in exchange for shares which may have been the alleged illegal prefered that we are talking about. IMO the Irish examine the books and will see Toscano took at least half the money. The IRISH invested in this compamy so it could operate and not fail. They deserve to know where their money went!
3. The second announcement is scarier. They are talking about a plant in China when they can't GET UNDERWAY with any of the 10 prior countries thar they were allegedly building plants in. That sounds like great media if you are borderline retarded, but we have all heard this for years, pre and post benvengo.
4. Then 3 months after the fact the Italian stepped down and Peter Toscano is in. Give me a fu**kin break. Why was this not announced 3 months ago when it happened??
5. No reference in any PR to the illegal preferred stock based on the non-existent shareholder meeting of May 7th.
6. John "I am for all the shareholders and I have a job to complete" talks in the 2nd release about bringing the accountanting up to date. I must have been in Disneyland when he kept telling shareholders that IPWG was diluting to pay the lawyers and to pay the accountants. So why aren't the books already done? IMO the money can all be traced to Peter Toscano, his house, his property, his wife's face lift, his son, his cars, his lifestyle. This company is going nowhere with Peter Toscano, the same Toscano who sandbagged NITE who in turn stuck it up the *ss of IPWG thereby creating the chill.
7. One thing I will bet on. If we have a vote today of the shareholder's without the preferred stock, Toscano and the entire BOD with exception of the puppet master would be gone. The audacity in saying the IRISH are on a takeoer mission with 30% of the outstanding shares. Pure lies and a product of Peter Toscano's twisted imagination.
So Alleyba would like to sum up today's events:
1. IPWG slandered and libeled the IRISH making false accusations about them as shareholders;
2. IPWG never addressed the alleged May 7th shareholder meeting which never happened where the puppet master signed off on the resolution authorizing the issuance of preferred stock and then filing with Delaware stating a meeting of the shareholder's was held. fraudulent and illegal imo.
3. IPWG still refuses to allow the Irish to see where there money went because IMO it went to Peter Toscano at least 75 Toscano 25 IPWG;
4. You will not see the receipt of any money for a month and thereafter, there will be additional execuses why it is not in (all despite the fact that international wires take 4-7 days;
5. IPWG held back the fact that Toscano has been COO for 2 months since the ITalian left the board;
6. None of the dilution went to the accountants so JB lied and lied. I would like to know how much actaully went to the attorneys because there has been no mention of the chill to any degree.
7. They are about to sign a piece of paper with their 15th country to build a plant which of course will be a letter of intent that will never come to fruition.
8. The answer is SHOW ME THE MONEY JOHN. GET RID OF TOSCANO. HE IS IMO A CANCER TO YOU AND IS TAKING YOU DOWN AND LEAVING YOU HOLDING THE BAG. YOU SIGNED OFF ON EVERYTHING JOHN. WHOSE NAME IS ON EVERYTHING? BUT WHO TOOK ALL THE CASH? JOHN YOU ARE A BLOWHARD MILKTOAST. DISTANCE YOURSELF JOHN FROM TOSCANO OR YOU WILL BE BENDING OVER FOR HIM IN ALLENTOWN
I am tired and need to get sleep. Stay tuned to the John and Peter show tomorrow where Peter pays off all debts and flys IPWG to CHINA in his plane for a discount of $150,000, where they will proceed to stay in $2,000 a night rooms and try to thrawt the IRISH takeover even if the IRISH only own 30% of the stock.
People are tired John. Get it done already. The IRISH have the BOD dead to rights
how do we know for sure that management is lying? because we know they cannot take the company private, even if they wanted to (which i am sure they don't). you need 80% of shareholders to approve a move to take the company private. this is delaware law. how can the irish account for 80% of the vote, if management has at least 30% now - probably more? is management going to vote with the irish? so management is obviously lying!
if they're lying about this, and they won't let us see the books, this may be worse than we think.
so now more than ever, shareholders need to see the books.
so now more than ever, if half the rumors about improper transactions are true, we need to retake control of the company away from peter.
=
The importance of looking at the books has never been more important than it is now. IMO I am willing to bet that 50% of the monies given by thr IRISH for their purchase of illegal preferred stock went into Peter Toscano's pocket. IMO I want to know where all the money has gone. Benvengo's release which was long overdue was self-serving and much of what he states is a product of his imagination. Nothing I heard ever remomtely suggested they were looking to take over the company. They only wanted to know where their investment had gone. What is Benvengo afraid of? Why did he not address the dilution by IPWG as there was never any selling by shreholders to drive the stock down. It was the company dumping millions of shares into the market. Was that in the best interests of the shareholders. I hardly think so.
I think we stay the course and demand that the books be opened up. You give the company money to keep them afloat, not to line the pockets of Peter Toscano. I am hoping that something positive happens this week. It does not take more than 2-3 daysd to receive a wire from overseas so we should be expecting announcement that money has BEEN RECEIVED.
Vuduu...
Could not agree more. JB said he "is working for the shareholders. He has job to do and will not leave until he gets it done." I am sure he has read that script to you along with the one about paying accountants and lawyers. Paying accountants to do what? You are right there are NO REVENUES. How many entries can there be..office--$500 per month. JB... $1200 per month...secretary...$3000 per month........Peter Toscano--home construction........$600,000(imo), Peter Toscano this Toscano that (imo). Dilution of millions and millions of shares as per transfer agent.........FOR WHAT?
SAY IT AINT SO JOHN.
Come on John.......TELLS US WHERE THE $$$ has gone....IN THE BEST INTERESTS OF THE SHAREHOLDERS JOHN....I think VUduu has hit nail on head. They are afraid to show books to anyone. Toscano agreed to show Irish as rumor has it and changed his mind. Why doesn't Peter have the b**lls to come on and respond..I guess Ebbtide alias VR strategy will soon be on.......but no one addresses Alleyba's pointed questions.
Rumor has it walls starting to close in on Peter. John take the high road. Distance yourself. Stop being his puppet and stop reading scripted messages to people. I was fooled for long time but the May resolution put it over the top
The English transalation:
Next Posted by: mofnc dates: Sunday, July 25.2010 12: 05:17 PM in reply to: None post # of 10384 for the investor Italian group, Thursday , 7/29, I will take the appropriate legal action with the competent authorities. I have a plethera of information that, very probably adversely effect the outcome of this success companys future. I fell I do not have other remedies that protect the little that remains of my investment.
The above is the Italian to English translation of mofnc's message. However, I would like somebody to answer what I think are legitimate questions as follows:
1. There is no dispute or question that the Irish invested their money in IPWG. Does anyone diagree with that? That having been said, why shouldn't the Irish have a right to examine the books and records in order to see if their money went where it was supposed to go?In fact, as shareholder's shouldn't we be allowed to view the books and records as well?
2. Fact--the transfer agent said there was never any shareholder meeting on May 7th the date JB signed the resolution authorizing the 5,000,000 shares of preferred stock. Delaware law required a shareholder meeting in order to do this. IPWG through JB files a 242 form stating shareholder meeting was held? The shareholders vote in September for the 10 billion and the preferred stock. How can the preferred be considered valid when the May shareholder's meeting never took place?
3. Fact---the transfer agent tells shareholders that he has never seen the amount of dilution day after day of one stock like IPWG did several months ago. Is it just a coincidence that rumor had it that Toscano was practically broke and that now he has completed construction of his house, paid for wife's plastic surgery, bought other real estate, joined a country club, etc. etc., when shareholders were told dilution necessary to pay for lawyers and accountants and keep company afloat. First of all, I may have missed it, but I have seen no postings of company's fiancials,let alone see any press releases regarding the chill or the Poland project. As shareholders don't we have a right to know exactly where that money has gone because no one was selling the stock.....the company was DILUTING the stock. Where are our rights? Someone please agree or disagree with me.
4. VR has failed to justify items 1, 2 or 3 above. I believe VR, imo is EBBTIDE since he has flowed away downstream and no longer pumps the company......imo another Toscano puppet.
5. Where is the money? You can tell me whatever you like about time it takes to wire money, etc. etc. This is all bullshit, imo. JB always talks about seeing the job through for the shareholders. What is he doing? How would I know. Not one release has come out in months except we put Ialian on board and he is off now and that was never announced. The poland project has not started. The chill is still there. John what the fu**k are you doing? What is the difference between IPWG a year ago and today except our shares are virtually worthless? Say it ain't so John and show us the money. Tells us John in a PR what you have been doing the last few months except collecting your monthly $1200 check so we as shareholders know what is going on.
6. John, even if you have the $7,000,000 have you not announced it because you know, even thugh the preferred stock is illegal, it has to be redeemed and the preferred voting rights would be lost leaving the board powerless and surely to be voted out by the shareholder's in a meeting that would definitely be held soon afterward. Don't you feel Toscano has cornered you and the board by sucking you into the May 7th resolution? Someone tell me how is that May 7th resolution valid as to the preferred without the shareholder meeting? In any event those shares have to be redeemed once the money is announced.
There is one little positive outcome........if the $7,000,000 is in the bank as numerous messages are saying the only way the money could ahve been received by IPWG is if the monies for the first traunche in Poland has been delivered which wuld mean the Poland project is for real.
General Information
John Benvengo doew not realize it but he is a big world of HURT. He signed off on a lot of the documents. I believe he is under the impression because the BOD's and the no nothing lawyer to him it was OK he is not resonsible. JB...I have news for you. You are in a lot of trouble. I sincrely hope nothing happens to YOU, but I see no way out. Do what is right for the shareholders and yourself and pray the Irish group forgives you. You have no other CHOICE.
THe filing of the 5 million preferred shares signed by you on May 7th 2009 was OK, but when you sent in a false section 242 form to the state of Delaware which stated that you had shareholder meeting which never took place is where your real trouble started
To Itsallinthemix:
Here is a little tidbit for the shareholders of IPWG who owned the stock back in 2005 and 2006. Guys like IPWG investor and myself purchased IPWG stock at very low prices for under a penny. We have a chance to make a good score. Rumor has it back in 2005 and 2006 way before JB joined the company Peter Toscano was doing a deal with Knight Securities (NITE). NITE caught him doing something illegal (surprise surpise)and then NITE broke off all dealings with Toscano and IPWG. NITE then taught Peter Toscano a powerful leason. They procceded to naked short the stock to approx .10. Toscano did the rest by diluting and selling shares and driving the stock down to 000. Do you really want this man to manage our company? Peter Toscano tried to sneak through illegal shares of preferred stock without anyone knowing.
however, somebody reported to Irish group what was happening. We should all give that person a GOLD MEDAL. Peter Toscano, the loser, sends itsallinthemix to do hatchet job on Irish group. Look what happened......it completely backfired on him. A LOSER IS AWAYS GOING TO BE A LOSER.
To IPWG INVESTOR--
They could not let us look at the books a month ago. It is not too hard to figure out why. If you stole and gave illegal shares would you let anyone look at your books?
again VR,
when you do not investigate and believe the words of certain people you get fooled. I have now done my due dilligence and I am asking you point blank when was the shareholder meeting held authorizing the issuance of the preferred stock as referenced in the May 8th resolution?
I can only be fooled for so long. Jack Wigenti as far as I can tell, has distanced himself from the board. He has not sold any of his stock that I am aware of
VR.
Isubsequently learned from the transfer agent that the selling was dilution by the company of millions of shares a day. He basically said he never saw a company dilute the way IPWG diluted. Question is where did money go. The head of the company works for free snd the secretary makes $36K a year and works in a $500/mo office suite. Cut the crap. Show the money. Show the books.
What i used to think and what I know now are 2 different things and Ebbtide has drifted off to space never to be heard of again on this board unless he changed his post name.
I still say where was the shareholder meeting for the May 8th resolution issuing preferred stock?
VR,
I agree as to the 10 billion. But where was the shareholder meeting for the issuance of the preferred stock as per the May 8th resolution. They had to have held a shareholder meeting which they lied and said they did.
Who the hell is going to sell shares at this price? Stay the course without Toscano, show mw the money and show me the financials that was supposedly one of the reasons for the dilution of millions of shares.
Peter has put this company in this position because he tried to screw NITE who is tied to Scottrade. Peter is the main cause for the chill.
Peter is going to jail imo. He dilluted IPWG stock or sold to investors and took 50% of the cash imo. How else could he suddenly buy things when before the dilution he was allegedly broke?
JB should watch his back and not allign himself with Toscano. Get Toscano off the board and then the monet will come in. The Irish deserve to see the books. They kept company afloat......and then Peter imo screws them and the people that put them together
VR,
Here is what you do not understand:
1. IPWG , Peter Toscano isuues preferred stock with voting rights; preferred C---10,000-1 and perferred D--25,000-1
2. In order to do that under delaware law you must 1st have a shareholder meeting;
3. The so-called "preferred stock" gives Toscano and board a majority vote over all combined shareholders, including Irish;
4. The resolution signed off by the puppet master states a shareholder meeting was held in May authorizing the preferred stock;
5. There was never any shareholder meeting. The resolution is bullshit and the prefered stock issued is illegal;
6. The shareholders vote in September, 5 months after the fact, for the illegal preferred and the 10 billion shares
What don't you get. The preferred stock authorized in May is illegal under Delaware law. The puppet master did not know any better and signed off. He laid down for Toscano who then proceeded to dilute millions of shares as verified by transfer agent who also states there was no shareholder meeting in May.
The Irish get hoodwinked into buying illegal stock while Peter dilutes the hell out of the stock and pays for his house and other items.
The Irish invested their cash into this stock and there are those who say they cannot look at the books? What is being covered up?
I for one would rather take my chances with the Irish.
Rumor also has it that announcement coming out very shortly by IPWG that Toscano charter company has retrofitted planes to carry out garbage from Poland which will generate immediate income for IPWG. First traunche to be $7,000,000 upon retrofit of planes.
I have 27 grbage trucks ready to haul trash out of Poland and I am waiting for Peter to sign the contract and send it back to me. I am dumping it in the Meadowlands in NJ. Waiting for signed contract and 1st traunche.
Benvengo's cousin playing in poker tournament tonight and I wish him luck.
But be serious for a minute why shoulsn't any shareholder be allowed to see the books? Is not that our right. I would also like confirmation that the preferred stock was paid for WHEN it was issued.
Are we all schmucks here? I am supposed to believe a story that JB draws $1200 per month? How much does the secretary work for. At minimum $36,000 per year. So you mean to tell me he lives off of $1200 and the head of IPWG makes less than the office girl?
I know Peter was broke 6 months ago. Strange that was when everything was diluted. Now he has a paid house, condo, wedding, boobs for his wife and I try to pay my fu**kin bills. There is something wrong.
Support the Irish group. You cannot take a company private unless 90% say so and that is not scenario here. Give the Irish carte blanche. at least reward them for bring trustworthy. I cant drink and post like this at night, I forget what I said the next morming
The hell with Toscano let him rot in jail. Best advice to JB....distance yourself from that crook..collect documents...save yourself...you are basically a good man who know nothing about business and securitities law..........save yourself. No one want you but if your lips stay locked around Toscano's di*K that may be a different song. Get your lips off that lollypop. Benvengo, Jr. Did you win your poker tournament. Were you patrient enough and slow play or did you blow a fuse and go all in?
Bottom line ---show the money on 1st traunche and open the books and diassociate from Peter "dissolution" Toscano.
I want shareholder meeting. It is embarassing the way Toscano has treated the Iirsh.
Peter...am I too late to invest $3,000,0000 in your airlines?
ITSALLINTHEMIX - YOU SEEM TO BE QUITE FRIENDLY WITH PETER NOW.
why don't you ask him how well he did with ipwg in the last 12 months?
heard rumors he was close to broke last year ????
if he wasn't stealing from the dilution, where'd he get all the money to pay for everything:
1) bought a foreclosure house in reunion, fl - paid $468K
2) house was in disrepair for literally years --- had to pay for major renovations to the house, painting, landscaping, pool, etc. he asked a construction person to look at it (man owns a construction co. in fla). Construction person said he probably had to pay close to 70 k for the renovations alone. and they bought all new furniture for the house too.
(BTW, HE STILL HAS A CONDO ON LI - HE BOUGHT VERY RECENTLY - within the last year or two)
3) just bought a full family membership in a country club on long island - north hills cc - about a month ago
4) his son is having a wedding at north hills cc in oct - a big wedding
5) his wife had major plastic surgery (elective) in nj a few months back .
WHERE DO YOU THINK ALL THE MONEY CAME FROM TO PAY FOR ALL THIS ??? WHY DO YOU THINK WE WANT TO LOOK AT THE BOOKS ??? WHY DO YOU THINK PETER WON'T LET US LOOK AT THE BOOKS ???
Some people seem confused. Peter Toscano is still running company. Who do you think is calling the shots? Investors in company have the right to see where there money has gone. Hopefully they have not invested in a charter airline. Good idea Peter. I saw that on the news also. Are there any planes to fly. How about chartering plane to pick up the $. I see the plan here...everytime JB has to fly to Poland or Italy IPWG has to charter Peter's airplane in the "best interests of the shareholders". How about my starting a garbage company so we can use my trucks in Poland to carry the garbage to the waste energy plant? Speaking of the plant, can we build in the winter when the snow has covered the ground. Need to know if I need to put chains on my truck's wheels. Does Peter's plane have a de-icer? Is there a plane?
Can I just hand over my money to Peter, never see the books and invest in the charter plane business? Peter e-mail me I have $2,000,000 I want to invest in your company. Issue me preferred stock and authorize 10 billion shares so I feel secure. Lets just say we held board meeting and let JB sign off and then put it to shareholder vote 6 months later. Then we can dilute the shares and pay ourselves
JB
Why are you afraid to declare that the money is in? What are you hiding? Like the kid said in 8 men out "Say it aint so John". You are supposed to be working for the shareholders. How is authorizing restricted stock in May contrary to Delaware law in shareholder best interests? you had to have a shareholder vote in May John to issue that stock. HOW DOES THAT HELP SHAREHOLDERS? The Sept vote mean't NOTHING insofar as the preferred stock is concerned.
Shreholders have a right to see the books. Was the preferred stock paid for and by whom? The dilution of IPWG stock? Come on John show the $. Lets open the books up. John G has a right to examine them as does anyone else. "If you cannot see the books then they must be crooks". Isn't that what John Cochrane said in the OJ trial? Not making that accusation at all but people have their money in this stock big time. Shouldn't those who invested in the company have a right to see the books? Aren't those the same people that allowed the company to operate or was it the dilution of millions of shares to pay lawyers and ACCOUNTANT fees?
I did not know Peter was an accountant. It does not take months to get overseas money. Show the money John B. At least show it to John G. Say it aint so John..........please.
The working in 'best interests of shareholders" is only good for so long. John B stop being a puppet. You are making mistakes. Close the door and end the speculation. Announce the $ if it is there.
The rumor of monies being received for the 1st traunche are just rumors. JB would certainly announce the monies the minute he received same. It is the only way he can reagin credibility. If the money has been received and is not being announced for whatever reason, then (maybe waiting for chill to come off) then he has completely lost his MIND.
P.S. Remember the scene from 8 men out the black sox scandal when the little boy said "say it aint so Joe", ALLEYBA IS SAYING "SAY IT AINT SO JOHN".
In answer to Btad's message #21835 posted on the equity group message board I agree with you 100%., except when you say pinnochio is sleeping like a baby. Anyone who has done the illegal things he has done and is more than likely going to be prosecuted after all this is over cannot be sleeping like a baby.
I JUST WANTED TO CLARIFY MY PRIOR POST. THE JUNE MEETING WAS 2010 AND THE VOTE ON THE CLASS D WAS NOT 250,000-1 IT WAS 25,000-1.
ALSO HEARD RUMOR THEY MAY HAVE RECEIVED THE FIRST TRAUNCH. IF SO, I KNOW JOHN BENVENGO WOULD HAVE ALREADY ANNOUNCED IT BECAUSE HE IS ALL FOR THE SHAREHOLDERS.
On Monday I will try and post the document I received which is the corporate resolution filed in Delaware authorizing the 5,000,000 shares of preferred stock which was signed by John Benvengo. The certificate was signed May 7th and filed May 8th.
So on May 7th the Board of Directors filed "State of Deleware Certificate of Amendment of the Certificate of Incorporation". This Amendment was filed on 5/8/09 and stated in part:
"The Corporation shall be authorized to issue a preferred class of stock in the amount of 5,000,000 shares............."
"This amendment was duly adopted in accordance with Section 242 of the general corporation law of the State of Delaware....."
IMO this was done illegally. There had to have been a shareholder meeting to either approve or disapprove of same which was NEVER held. Therefore IMO all preferred stock is illegal.
See Section 242 of the General Corporation Law provisions of the State of Delaware which I suggest you all GOOGLE.
On July 17, 2009 the board voted for the issuance of 10 billion and 5 million shares of preferred stock. This vote was completely illegal as to the preferred shares. The shareholder meeting/vote was not held until September.
So how is it will someone please explain, how the preferred 5,000,000 shares could be filed with the State of Deleware on May 8, 2009, 4 months prior to an actual shareholder meeting?
However, there is a possibility that the company can say that they had more than enough outstanding voting shares at the time to give themselves the 5 million shares of preferred stock so they said screw the shareholders we do not need them. I kind of doubt this was the case because Benvengo begged for shareholder support for the September vote.
HOWEVER IN JUNE THE BOARD OF DIRECTORS GAVE THEMSELVES AN ADDITIONAL 350,000 SHARES OF PREFERRED STOCK OF WHICH 250,000 SHARES WERE CONSIDERED CLASS C SHARES WITH 10,000-1 VOTING RIGHTS AND 100,000 CLASS D SHARES WITH VOTING RIGHTS OF 250,000-1 WITHOUT A SHAREHOLDER MEETING. IF THIS IS THE CASE IMO IT IS ILLEGAL AND FRAUDULENT.
I WOULD HAVE TO BELIEVE JOHN B SIGNED OFF ON THIS 'IN THE BEST INTEREST OF THE IPWG SHAREHOLDERS'.
With the millions of shares that were diluted we as shareholders are entitled to an accounting, after all, wasn't the dilution done so the accountants and lawyers could be paid an the $500 per month doors kept open? Where is the money John and Peter and where is the first draw from the Italians? When is the ground breaking in Poland. People I know who are polish who have people in Poland have never heard of this proposed plant. What about all the other plants IPWG was supposed to build.
The garbage here is beginning to stink
Where do you get your facts that this is a new rumor? If you do not believe this group is for real then you are in for a shock. They will investigate IPWG and whoever said the group backed away is lying. Peter Toscano said they could check their books and when the time came HE refused. Was he hiding something along with the Board of Directors? This group is for real. Once this group takes over you will see some very positive announcements. It WILL NOT be that long of a wait.
Sorry imjtw2u.....we all know John "is working for the shareholders"......wrong. He has allegedly signed off on all resolutions which may have issued illegal preferred stock to Toscano and his cronies. They have diluted millions of shares under the guise of getting the financials done and getting the project in Poland off the ground. Meanwhile where are the fiancials, wheres the money and where is the plant? His respnse on the dilution of stock is "should I close the doors to the company?" Well now I say close the doors so I can take my loss or stop trading until we get new management
Text of e-mail received today from a shareholder who apparently has links to a large group of IPWG investors.
the proposal was in a word document and is not part of the following text
I would be grateful if you could forward this to all shareholders within your groups. Pleas feel free to come back to me with any additions or alterations.
I apologise for the delay in communication but it was through no fault of ours. We have been strung along by IPWG management and Board of directors for the last number of weeks.
We had put forward a number of proposals to help ease the worry within the shareholder groups. Please see attached proposal above.
We felt that the proposal was in the best interest of IPWG shareholders. After receiving verbal agreements from Mr Peter Toscano and John Benvengo along with other members of the board, they then have gone back on their word and have closed up shop.
We requested a shareholder meeting only to be told we couldn't do this. Under the by laws of IPWG we were entitled to do this if we had 10% of the vote. However the board have changed the by laws so that you need 51% of the shareholder vote to call such a meeting. Our attorney is looking into this as we are concerned about the legal aspect of this and a number of other filings and preferred stock actions that have taken place. Re the preferred stock issue, IPWG only 2 weeks ago issued preferred stock to parties with voting rights of up to 25000 to 1. This is a blatant attempt to swing any vote that may oust this current board.
We also requested under Delaware law section 220 to have an accountant look at the IPWG books to clear up any issues. We were told by Mr Peter Toscano that we could do this at any time. When we set in motion the 220, the request was denied. Again if they have nothing to hide, why are they fighting so hard to hide it.
The company has issued letters to myself and other shareholders to sue us if anything went wrong with the Poalnd or Italina funding, indeed Mr Toscano has threatened to sabotage the Poland project if we continue with our actions. I find the fact that a board member within a company would do this. The fact that he is still a board member after we highlighted this is further testament to the boards attitude.
Mr toscan has also furnished a letter from GEEG that states that they will pul out of the deal with IPWG. We find this somewhat ironic since GEEG is 64% owned by IPWG so they basically threatened themselves!
On the matter of GEEG withdrawing, this is false as the deal is fully contractual and this is a desperate bid by Toscano and his board to circumvent the shareholder.
Indeed their Attorney Mr Hank Gracin went so far as to tell me they could do what they want as it was a private company. Needless to say Our attorney has set him straight on the differences between private and Public companies.
The reason the board is so keen to stay is that only a few weeks ago they issued themselves more stock as remuneration for all the work they have done as well as giving themselves $30,000 cash when the italian funding comes in! This is your current board at its self servicing best.
Needless to say there is lots of other issues that we believe has caused the general shareholder to lose out
We have our attorney dealing with the situation at the moment and we will follow this to the full extent. I hope we have the full backing of you the shareholder and we will do our best to ensure that all shareholders have a voice going forward.
RUMOR has it thay very large shareholder group getting together to call an extraordinary shareholder meeting to replace Board of Directors and elect CFO and new COO. ITS ABOUT TIME WE GOT RID OF THESE LOSERS.
ALLEYBA SAYS......................
..................in his opinion based on the way the stock is trading and being accumulated that the cold weather in florida (chill) will be gone in the next 10 days and believes the forecast will be sunny with the leaves turning green shortly thereafter.
The due dilligence period is past,the poles need to create jobs, stimulate the economy there and its looks like, unless someone has heard anything to the contrary, that the deal will be going through
ALLEYBA SAYS...............
..........that after reading recent post on naked shorting that what is happening here is pure manipulation by market makers. I am guessing that the chill will be lifted very shortly or IPWG WILL proceed forward with litigation against them.
Alleyba agrees with IPWG investor based on rumours he has heard that Mr. B will be back in Europe in approx 10 days to finalize some minor issues, i.e. agreement in writing to enhance waste facility and believes the Polish government understands that this will create jobs, increase revenues and benefit the people living in the area; hence I have no reason to believe the due dilligence was a successful as IPWG's news relase indicated and the $375 million will be given to IPWG on Mr. B's next trip.
That having been said IPWG INVESTOR'S posts make perfect sense. I do not know about anyone else, this could be the home run of the century. I cannot buy enough stock to buy at .003 and sell at .006 and make money, so consequently I have to believe that when I initially got in this stock at .23 it was just a story with all memorandums of understanding and no money. With money, with plants and with ad-power machines in production how can it not be worth more than .23?
The DTCC should be investigated along with NITE and Scottrade and the SEC should be deluged with shareholder complaints asking why the hell they haven't done anything. That is my opinion.
Also want to add that I find that IPWG has so far followed through with every promise they have made.
Alleyba says...............
............he has heard rumor that Mr. B will be eating Kilbassa in Poland next week, Why would he go all that way for Polish sausage unless deal was being finalized.
Also heard rumor that that chill is moot and here is why: IPWG gives RESTRICTED stock that was restricted for 6 months that SIGNATURE SELLS prior to restriction date expiring. SIGNATURE pleads GUILTY! Stock sold over period of time which is more than 6 months ago. To me it is a no brainer. Why the chill? It is moot!!!
Alleyba also hears SEC putting pressure on to have chill lifted. Alleyba believes chill will be lifted shortly
Alleyba Says............
.....that he has heard a rumor that Mr. B is going to Poland next week and I do not think he is going to by Kilbassa or polish sausage. Rumor further has it that financing will be finalized and we will be home free.
Also rumor has it that the do nothing SEC is finally ticked off at the odtc and is demanding that they respond to IPWG's request to remove the chill so Alleyba expects something positive to happen there in that regard.
Finally, how do the naked shorts and shorts win? By trying to push the company out of business by spreading lies and disparaging the company. If the stock goes to 0 they win because they never have to cover; however, when financing is finalized and chill is lifted they will be scurrying like rats to cover because Alleyba think they already spent their money on new flat screens and other toys.
SHOCK and AWE is coming.
Alleyba is also guessing that there are other projects in the works that will knock the cover off the ball.
ALLEYBA SAYS............
......that SHOCK AND AWE is coming. Alleyba heres rumor that Peter and John along with the Italians are going to Poland sometime next week.
Where there is smoke there is fire. Alleyba guessing that the shorts, naked on not WILL be caught
Alleyba says.......
...............Itsallinthemix, you are exactly right IPWG plugged the hole. Seller cannot trade unless he can deliver shares to buyer. Shorts are done. Meeting next. NITE and others done.....toast.
SHOCK and AWE coming. Financing in place. Poland deal solid. more to come. Maybe I should hold out for $5 a share.
Alleyba says....................
...........that restrictions now placed on the stock have been placed by IPWG. In order to buy the stock the seller must deliver the certificate. This is no longer electronic trade. You can sell, but you cannot buy unless you can get stock certificate.
This is because NITE has no stock along with other shorts and now they are caught with their pants down. Do not sell. Wait hold that thought......I will sell my million shares for a discount at $2 if they want to buy as soon as Scottrade transfers my stock. Hopefully this will prevent manipulation. If they cannot deliver you the stock they cannot sell it. Get ready for the squeeze
ALLEYBA SAYS................
It is important to cast your votes in favor of the current board. Vote yes all the way down. Big things to come. This freeze with Scottrade is bullsh*t and I think because Rainey and NITE are involved with Scottrade, my bet is Scottrade has given away your stock to shorts. Monday I am going to Scottrade and requesting my certificates of stock. If I get some bullshit story, I am transferring out. If the bullshit gets too deep once the freeze is removed, I will put a sell with a GTC as high as I am allowed.
Also bet a certain former large shareholder wants company to fail because he no longer has stock. Alleyba thinks the restricted shares may have ben dumped at discount because he never thought company would get the financing and no one would ever find out. Strictly conjecture on my part
ALLEYBA SAYS........
what kind of moron is this man Jack Wagenti? He owns 105.000.000 million shares and I do not understand why he is trying to bring the company down. Peter Toscano and John Benvengo have done a great job in turning IPWG around. Do not sell any shares. Stay the course. More good thinhgs to come. Be loyal shareholders and vote yes on all proxy issues
Keep the faith IPWG shareholders. Rumor has it that Mr. Benvengo has gone to Europe for a few days. Where there is smoke there is fire. Looks like things are starting to heat up. Look for PR to come out very soon in my opinion. Remember what I said SHock and Awe is coming. The market makers cannot hold this down forever. They will need to buy stock for their inventory. Do not give any of your stock away.
Alleyba says.............
I do not know who was on the asked at .0035 all day on Friday, but obviously someone is holding the stock down. WE NEED NEWS!
This is a news driven stock. If you read between the lines I cannot see anything but good news coming. Financing is obviously the key. If the Polish government is giving us 49 acres of land for free to build on they must know we are getting the fianancing. Stay the course. Do not give away your stock. I believe SHOCK and AWE is coming shortly.
PS. It would not surprise me if we get good news next week.
TO LOTTERYSTK...............
I have also heard about the infighting. My unerstanding is that Peter Toscano and Jack Wirgenti have not been getting along. Wirgenti has been bad mouthing Toscano and his running of the company. Wigenti no longer has anything to do with the company. He has 106 mmmillion shares of stock. Why he is bad mouthing Toscano and the company is beyond me. The man can make a lot of money if he just shuts up and lets the new CEO, John Benvengo run the company. Jack Wirgenti must be the biggest moron on this planet. He stands to make millions once we get the Add Power running. Jack, here is a piece of advice for you...shut the f**k up you moron.
Ebbtide,
any reason you never answered my message #819
Ebbtide,
Your posts are informative. Do you think there will be a reverse stock split in this stock? Do you agree that the selling was due to the repayment of money loaned to the company? What about the allegation that $1,000,000 is still owed for Addpower?