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The Izzy Goldreich connection with MMTE/Lieberman is the reason I believe MMTE deleted the docket listing on the MMTE FB page multiple times.
There was money loaned from Reich Brothers to MMTE in 2010 - if this connection still exists it is a huge red flag!
That information certainly helps out. I knew about the dirty past but did not take into consideration the information posted by 1manband.
The general MMTE thought is now that Overcash is history that Liebs has turned the company around; however, my big concern two fold - one being the way the lawsuit info was released...first it was found by someone reported to MMTE and then they issued it via email to a few people to post. Second is two parts - one is the apparent connection with Izzy listed in the lawsuit and second part is I posted this on the MMTE FB page and it was deleted more than 5 times by MMTE.
It was something that came up during a discussion out of iHub and a connection that some were questioning.
I certainly appreciate that information - it has been 'assumed' for a while but I had not seen a direct connection until that information. Maybe I was looking in the wrong spot.
You are absolutely correct - it is the defendants in this case considering there is a connection that does not bode well for MMTE.
Until the extent of Izzy's involvement in MMTE is fully disclosed it is a major concern!
What has brought major concern to me is the way the lawsuit was made 'public' and the fact that the information is continually removed by MMTE.
Jack Lieberman IS William Lieberman's father:
http://biz.yahoo.com/e/110309/fxpt.pk8-k.html
Thank you to samsamsamiam
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=65245553
Mammoth Energy, Fox Petroleum, Trilliant Exploration - all have significant connections to William Lieberman as he is current CEO.
This is an interesting article regarding FXPT and TTXP connections with MinMet/Aventine Resources.
http://www.independent.ie/business/irish/investor-concern-grows-for-gas-explorers-future-2634491.html
So much further does the corruption go?
Is Jack Lieberman William Lieberman's father? I cannot find the direct connection.
Izzy also has connections with Reich Brothers who supplied MMTE a loan in 2010. It is worth checking out.
Based on the recent activity on iHub, FB and elsewhere I will fully admit that my attitude regarding MMTE has changed significantly. I will provide justification for my reasoning and obviously others may or may not counter my justification.
1) A professional and/or professional company do not have as many 'faux pas' on the PRs and communication as MMTE has had in the past months. Yes I'm sure they are busy but for me to put it in perspective - as an engineer/construction manager if I were this lax in my reports and inspections I would have buildings falling over or settling. Sorry but I am a professional in my career and things like this do not happen.
2) Very simple fact that MMTE deleted my link to the lawsuit twice (now 3 times) indicates to me they do not want this information exposed without them telling people what they want others to hear. As discussed previously this is censorship and without both positive and negative news how can an honest investor be properly informed. This implies the company is trying to cover up information.
3) This is a public company, any news is to be released through public channels. It was released to select shareholders. For one this can be considered insider information, secondly it could be considered manipulation if acted on in a different manner and third it is not proper business practices. Also - didn't they take the FB page to further MMTEs stand on public knowledge? Doesn't appear they want things as public as they claim.
4) Due to the above actions of the company it is apparent they do not want the information to be publicly known otherwise it would have been released appropriately. So does this mean they do not want people to know about current connection with con-men (IE Izzy) or is there something else going on?
MMTE Lawsuit - MMTE deleted link from FB page 3 times!
It appears since they have deleted the link 3 times from FB they do not want this known! Yet, they sent emails to a select few people notifying them of a complaint filed against them by prior associates.
http://dockets.justia.com/docket/new-york/nysdce/1:2011cv04813/381951/
My concern is Izzy has never (to my knowledge) been listed on any MMTE related documents since Liebs has been at the helm. I would have to dig further before I can say that with complete certainty.
What I do know is Liebs/Brian do not want the lawsuit link posted on the FB page. I thought it just wasn't showing up, nope it has been deleted 3 times now!
If they do not want that link showing up that tells me they do not want information known! This is a terrible idea!
Well regardless of opinion, the information was posted on this board back at the end of March. I posted these links.
There has to be some credibility given that at least the suit was accurately described. By default there has to be at least minor credibility given to current information provided about Liebs and Izzy. Both are listed on the suit and as such both are still connected in some manner. Whether the two are side by side or just some form of acquaintances the connection still exists.
OK - so you and I are on the same page. Maybe a few others here on iHub but yes my major concern was that Izzy is still listed as a defendant which means he is still connected to MMTE in some manner.
This is not good news!
How so? The old IR side of Overcash is listed and Izzy is listed on the defendant side which is a major concern to me - this implication is quite disturbing.
Look at who else is listed on the defendant side though. Look up Izzy - that connection still exists. Who are the Does listed on this suit?
You are correct - they have a long corrupt history; however, I am also concerned with Izzy still being included in the picture.
In terms of it still being Overcash's people - well, yes but at the same time Overcash is not listed on this new suit. That was my primary point in my first post. Yes it is connections with Overcash though...but not Overcash directly.
You are absolutely correct - the fact that this connection is still there is not good
Real quick look reveals this is M&A out of GA/FL, Attorney is out of NY. Sounds like we 'unofficially' knew about this in March/April.
This is NOT Overcash! Here is the filing:
http://dockets.justia.com/docket/new-york/nysdce/1:2011cv04813/381951/
Some of the public posts regarding the claims from March through May:
11 May 2011
Slick Willy doing business with AYUDA FUND
google FINRA MANNY BELLO
that is why the big drop in PPS
21 April 2011
Bombs Away huge lawsuit on horizon big seller lurking
No evidence just yet , but lawyers are preparing to file
that is why is said on the horizon
25 March 2011
Major Lawsuit on Horizon
ask little willie who paid for trip to Chile
Law suit has not been filed but it will be for major shares
Little Willie took 40k for trip to Chile when stock was .0001
now because of price increase he is not issuing the stock
VR - I actually like this post a little better (in terms of questioning Overcash):
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=64727146
I certainly appreciate the response. I do have concerns about this claim and the possibly different claim that was mentioned in April time frame. From the little I know and the more I have thought about it I do not believe this claim is the same one posted in April. The April information was in regards to unpaid debts/financing and this appears to be more past management related (assume dealing with shares).
Instead of selling now and having a realized loss I will hold and worst case it will help my taxes. We will very likely see at least mid 000's though and when we do I will buy because it will rebound to some level.
Whether this recovers no one can honestly answer this - at this time MMTE cannot even honestly respond as to whether it will recover. It honestly depends on the extent of the claim!
This is all IMO but even if this does not recover it will be a good opportunity to buy 000s and then sell at higher levels.
I would like to think this will recover but again there is not a single person that can honestly answer that question.
You may be on to something.
I recall one person bringing this up in the past and stating news would come out soon enough. If this is the same complaint it is my understanding this is against WL/MMTE and not prior management. Could this be a different complaint than the one mentioned above?
I personally am concerned for various reasons but am also confused as to why MMTE did not use their FB page to provide the information. Wasn't that the purpose of the page?
The list is updated on a daily basis as to what is/is not available.
Today there may be 0 but tomorrow may be different. As far as I'm aware it only changes daily and not hourly.
In terms of using the link - yes, the link takes you to the main page and you have to find GLER or search for it.
I certainly appreciate you pointing that out though - I really don't want to mislead any one and knowing that some shares were available to short is very good information. Granted 100,000 shares available to short would not have that much of an impact on the overall PPS considering the volume but it is nice to know the number we are dealing with.
I cannot say for certain but my opinion is based on my involvement on several projects:
1) I do not need to spend 24 hours a day/7 days a week overseeing one construction project - the amount the contract can accomplish in one or two days can be visible by a few hours on site each day or so.
2) Since each project has a schedule and I am in touch with each group involved with each project I can split my time among various projects.
3) My schedule is dictated by percent completion of each project.
In terms of WL - there is honestly very little benefit to him working 24/7 on MMTE or any of the other companies. There are only so many letters, so many calls, so many site visits that can be done. Yes at times things may become extremely busy; however, generally speaking overseeing multiple companies should be easy to accomplish considering these companies are in the 'beginning' stages and are just tryign to get contracts.
It is speculation IMO but it could be a loophole through the Chilean government's regulations. I think it is a very good assumption.
In terms of the exportation of lithium - the primary point I wanted to convey was that mining and processing is allowed and that there are other valuable minerals associated with mining that can be easily exported.
You are certainly correct but I hope we move up because it would certainly make everyone feel better and hopefully we would have more positive conversations on iHub.
He is connected to Yasheng, MMTE, FXPT and Trilliant.
I may be mistaken but I believe current regulations prevent export of specified materials NOT mining or processing.
I am about 99% certain mining and processing can take place and that is why we have discussed on multiple occassions the mining/processing to obtain the potassium and other items that are worth significant money and can be exported.
We have the land and I see absolutely nothing wrong with beginning mining, processing and stockpiling the lithium but exporting the other items to begin earning!
Agreed; however, this has nothing to do with the conversation regarding shorting of GLER or any other sub penny stock. This is just a blatant lie and excuse used by many people to justify the drop in PPS.
The basic point of all this is it takes a fair amount of money for retail traders to short penny stocks.
Yes shorting of penny stocks happens on the retail arena but it is used as an excuse rather than reality. It is a common myth among many many people that shorting is a regular occurrence on penny stocks.
The example you used proves nothing more than MMs do 'technically' short stocks for a millisecond on a regular basis. It's the way it is done - period!
So you have proven MMs short stocks for a millisecond; now prove a trader shorts sub penny stocks on a consistent and regular basis. I don't want someone's opinion, get it in writing from someone that consistently shorts, contact Sykes since he is a well known shorter. Get his input and then come back to us. You will find that we are correct.
I am not aware of anyone that has actually shorted a sub-penny stock. Even Timothy Sykes has mentioned he will not go below $0.25; however, others have and will do so.
Most people that honestly short pinks go through IB to do so since it offers more flexibility and is much more convenient.
The myth of people shorting sub pennies is compounded by the fact that people do not know and they use it as an excuse for drop in PPS when it doesn't suit their expectations.
I believe Risicare took care of the response to this comment just fine.
I encourage you to research the information provided by Risicare for a more educational experience.
GLER is not currently on IBs list of available stocks to short:
http://individuals.interactivebrokers.com/en/trading/SearchShortableStocks.php?cntry=usa&tag=United%20States&ib_entity=llc&ln=
As mentioned by kayakzz there are a few aspects that are very concerning to those that have significant DD on the company and not just 'as a ticker'
1) The letter of credit is pending an inspection; however, does not appear to be a real letter of credit.
2) If coal is mined from the Samuel Mines how does it reach the end user without mixing with other coal at the coastal loading yards.
3) Foreign coal contracts are obtained through brokers, how/why is this foreign buyer going directly to GLER?
4) Why is this foreign buyer paying a premium for coal from a specific source?
I do understand but my concern is 'shorting' is used as an excuse on every penny stock every day of the week to justify the decrease in PPS.
I also understand it is very easy for MMs/brokers to short but like you mentioned it is difficult for retail to do so.
I guess I go back to my original comment - people use shorting as an excuse without really knowing what is involved and the costs of the involvement. In a lot of aspects though if there is a will there is a way but it is a tremendously overused excuse IMO.