is Makin' Money - This Is How I Roll
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GSIEF is certainly starting to get noticed - now has 71 board marks and counting
http://www.investorshub.com/boards/read_msg.asp?message_id=21032064
Hello. Anyone home?
Sure is quiet on this board today.
It sounds to me that this was started in February:
According to the company, ACMG and BHL have begun work to optimise the process for ethanol production from by-products of the sugar manufacturing process to progress toward a multi-year and multi-site licensing agreement.
The company expects to close this licensing agreement, estimated to increase ACMG annual revenues by $30 million USD, on or before June 15, 2007.
http://www.insidegreentech.com/node/703
MBL
Looks to have originated from http://www.sugaronline.com/
I don't think it has any significance but you guys can search the site to see if it is in the press releases or publication section.
http://www.sugaronline.com/iso/editorials/editorial.asp?cat=7
The one is similar but not the same
http://www.sugaronline.com/editorials/editorials/iso/ExecutiveBrief.pdf
Hey Lil Jazz.
OT:
I assume because of your name you like jazz.
Anyways, don't know if you'd call Béla Fleck jazz or not, but I went to see him last night with the Wooten brothers (Victor and Future Man) and I was amazed at how good they sounded.
I'm mainly into classic rock but really enjoyed the show last night.
I know your brother is a musician - R U?
I play guitar, bass, keyboard, and a little fiddle.
cheers,
MBL
GSIEF - Has this one hit your radar screens yet?
http://www.investorshub.com/boards/read_msg.asp?message_id=20966113
GSIEF IHub Board:
http://www.investorshub.com/boards/board.asp?board_id=9630
MBL
Chuck, I sure hope so.
I am at a loss as to why the pps rose from sub penny to 0.025 and now seems to be holding well around the 0.02 range, with the sustained ack of info we've had
Someone is definitely keeping the pps up, and I hope good things are just around the corner, but my feeling is, if this is real, we won't hear anything until late August when the plant is up and running and the contract with AM Polymers is initiated.
time to go drink some beer,
MBL
It's been quiet this Holiday week on the ACMG board
Symbol T Last Volume
ACMG US V - 0.02 185,650
OT:
Pete, This read is a good starting point
http://www.investorshub.com/boards/read_msg.asp?message_id=20967765
Hey Pete.
They may or may not be a bogus company (I don't know), but I believe they have a "virtual office". Apparently its the new thing these days.
I just did a whois on fairross website and old Homer's Lightsmedia shows up but the address and contacts are in Australia - WTF
[Querying whois.internic.net]
[Redirected to whois.melbourneit.com]
[Querying whois.melbourneit.com]
[whois.melbourneit.com]
Domain Name.......... fairrossstocktransfer.com
Creation Date........ 2007-05-03
Registration Date.... 2007-05-03
Expiry Date.......... 2008-05-03
Organisation Name.... Lightsmedia
Organisation Address. P O Box 59
Organisation Address. Collins Street West
Organisation Address. Melbourne
Organisation Address. 3000
Organisation Address. VIC
Organisation Address. AU
Admin Name........... Admin PrivateRegContact
Admin Address........ P O Box 59
Admin Address........ Collins Street West
Admin Address........ Melbourne
Admin Address........ 3000
Admin Address........ VIC
Admin Address........ AU
Admin Email.......... contact@myprivateregistration.com
Admin Phone.......... +61.386242485
Admin Fax............
Tech Name............ TECH PrivateRegContact
Tech Address......... P O Box 59
Tech Address......... Collins Street West
Tech Address......... Melbourne
Tech Address......... 3000
Tech Address......... VIC
Tech Address......... AU
Tech Email........... contact@myprivateregistration.com
Tech Phone........... +61.386242485
Tech Fax.............
Name Server.......... ns1.secure.net
Name Server.......... ns2.secure.net
here is some info on myprivateregistration:
http://www.ratite.com/whois/whois.cgi?domain=contact@myprivateregistration.com
apparently Yahoo offers anonymous registration thru melbourneit.com
This is the last NR released by ACMG on March 23rd.
We all know that companies word these very carefully.
can we interpret this to mean anything - are they implicitly trying to tell us something, or just wishful thinking on my part.
I am specifically referring to the first sentence.
"pursuant to" means "after". therefore the other part of the sentence should read" will" structure, not "is now" structuring. Is now would mean the deal was finalized.
The company stated that, pursuant to the finalized acquisition, Siam Renewable Energy Group is now restructuring ACMG into two companies through the incorporation of ARTL, which will be taken public immediately. A dividend will be issued in the form of one per share to stockholders on record as of end of March.
According to the company one share in ARTL will be issued for every share held in ACMG for all registered shareholders verified as of March 30, 2007.
The company affirms that this new structure will enable it to make a serious difference and that it is glad to reward its long-term shareholders.
I think Merry is exactly right - I think you just misinterpreted what he was saying.
MBL
I just noticed that - WTF
I don't understand it, but I like it
c'mon 0.03
Thanks ford.
I'll try to fix this up but for now this is the best i could do:
ALCARD CHEMICALS GRP (ACMG)
SqueezeTrigger Price: $0.06
Days on Threshold List: 106
Current Price: $0.02
Current Volume: 727625
Report Month-------------------------07-Jun 07-May 07-Apr 07-Mar 07-Feb 07-Jan 06-Dec 06-Nov 06-Oct 06-Sep
Short Volume (number of shares) --3670590 3976657 7193217 16107515 8286501 2971014 1982912 660575 429267 661553
Short Dollar Value----------------54691.791 130672.949 299957.1489 1101270.801 908614.8347 211714.4576 91332.9267 20735.4493 15161.7104 27725.6862
Monthly SqueezeTrigger Price-----------0.0149 0.0329 0.0417 0.0684 0.1097 0.0713 0.0461 0.0314 0.0353 0.0419
Price at End of Month --------------0.024 ---0.022
Amount Above/Below Avg, Short Price -0.001
% Above/Below Avg. Short Price 1.045454545
Total Number of Short Trades 0 0 0 0 0 0 0 0 0 0
Short Tickets (S) 0 0 0 0 0 0 0 0 0 0
Short Exempt Tickets (E) 0 0 0 0 0 0 0 0 0 0
% of Short Exempt Trades
Total Short Interest------------ 165800 3900 58800 118289 7745 66929 10676 83748 57678
Volume Weighted Average Short Price-------- 0.0149 0.0329 0.0417 0.0684 0.1097 0.0713 0.0461 0.0314 0.0353 0.0419
Time Weighted Average Short Price
Shares Outstanding
% of Shares Outstanding Shorted
Float (stock not owned by insiders)
% of Float Shorted
% Owned by Institutions
% Owned by Insiders
Total Change in Short Interest -------4151.28 -93.37 -50.3 -69.26 -88.43 526.91 -87.25 45.2 46.58
Days to Cover 0.1 0 0 0 0 0.1 0 0.2 0.1
Average Daily Volume 1775000 2322900 10324500 3018915 492903 1157432 337971 421952 441354
Hi ford.
I just received your test email.
BTW, I will post updated share counts tomorrow
MBL
Hi ford.
If you email the report to me, I should be able to figure out how to post it on this board.
no_sk8erboi@hotmail.com
MBL
Thanks again for taking the time to post this info lowtrade.
I am a little bit more wary after ACMG, but the kool-aid tastes so good - hehe
I'm not just paying lip service. I'm about to go on vacation for a month and plan to take the time to start learning this stuff.
signed,
soon-to-be MrConservativeWinner
the TA can't refuse the cert, if there's no TA to accept it.
Probably the broker found out there was no TA and thus had to return the cert.
If the TA did in fact refuse it, I'm curious as to who the TA is.
I heard rumours that this has since been reversed again and the money was put back in Pete's account and the cert cashed in.
MBL
OK, Thanks again lowtrade.
I'm gonna start reading the links you just posted about chart patterns and TA signals.
I feel disadvantaged trading stocks not knowing TA?
cheers,
MBL
OK, thanks lowtrade.
BTW, they are reverse merging into a shell and are supposed to be on OTCBB in a few weeks.
This is quite a story that might be worth reading .
from "investwise4858" concerning GSIEF .............
"Pinksheets:GSIEF
Last weeks alert was centered around the fact that GSIEF was in the process of reverse merging with shell OTCBB:CMHS. We felt that this fact alone warranted an immediate alert to our interested parties.
At that time, I felt that the Company was implementing their business plan and was proceeding at a gradual rate to build revenues within their accounts receivable financing model. In addition, the investigation of the subject company revealed that the Silar Group NYC/Rob Leeds et al was the financer of said model.
The alert focused mostly on the fact that just a simple uplisting and the known associated reporting requirements for a OTCBB would cause the release of certain vital proprietary and audited financial information about the Company.
When I discovered that Rob Leeds, former Goldman Sachs/Nomura Securities/Fortress Fund fame was connected to this venture, and considering the price of the subject security under review, I knew that a immediate microscopic examination of the subject Company was required.
Folks, whether you know it or not, when Leeds is involved, the numbers of zeros changes from hundreds of thousands, to millions, even billions. The players suddenly change from high school to the Major League. This is simple historical fact.
Knowing Leeds would never participate in or otherwise associate with a small operation or any unethical practices, (less than 100-500 million at minimum for starters), I pulled out all the stops on this one folks.
I immediately put into action the following plan to ascertain by unconventional and traditional means just what was going on here.
Principally, I asked three close personal friends with global reach and knowledge in business to look into this matter, and report to me thier opinions and findings.
I have enough information gathered now for you to put everything else aside and take it in:
Incorporated in this report are the entire contents of what I know as of 09:30 EDT July 3.
Of important note: After regular trading session hours on Monday July 2, GSIEF placed on the wire, two very revealing press releases that indeed confirm a few parts of the investigation. Take a look when you have time, but for the moment, kindly read on:
The content of the press releases mentioned, now public information, coupled with the time sensitive data collected during the all encompassing investigation during the past few hours and days, demands your immediate and undivided attention.
After examining said data examining the principals, funding sources, and other important details, the following is a compacted version for your review and consideration:
1. The Company will uplist to the OTCBB upon completion of audited finanial statements as required for exchange listing.
Time frame: 10-14 business days. (Once considered the most important, this now is the least important fact by comparison to the other details outlined below)
2. The Company is much further along in their business plan that previously believed. They have clients currently utilizing the accounts receivable financing model created by GSI. Silar has funded several packages to date. These facts must be revealed to the public in the upcoming SEC filings (required under exchange rules) as they will eventually cover business activities up to June 30, 2007.
3. The executive officers of the Company have much more experience depth than previously believed. CEO and founder Slaton was the head of the JELLO division of General Foods prior to it being absorbed by Kraft Foods, Inc. EVP Engel, has associations with American Home Products, and Carnation. Fortune 500 firms.
4. The Company business model has been developed over a period of three years, the public is just getting a glimpse now. You are getting a First Call look.
a. Company officials consulted with and retained a Big 10 attorney firm to advise them on the legal aspects of the proprietary accounts receivable financing business model. Officials left with a detailed and concise financial and operational plan.
b. Company officials, within the last 18 months, presented their business plan, financing theories and operational model to the Standard & Poors Corporation, Moody's, Duff & Phelps, A.M. Best, and Fitch Ratings. In addition, it is now known that they consulted with representatives of investment banking giant Stephens, Inc. The Stephens connection and its related political associations I believe are tied in some powerful way to the Company's future. Officials left with guidelines and operational requirements that included (but are not limited to) required due diligence regarding proposed receivable financing, lockbox payment requirements and other important details as they relate to the possibility of use of public financing vehicles eg. bond market offering and related financing instuments.
c. After the above excercises were completed, they presented the entire business plan to Rob Leeds. Leeds immediatley locked GSIEF up in a right of first refusal deal and provided them with immediate financial backing to fund these accounts receivable purchases.
d. CEO Slaton without fanfare, immediately closed several deals utilizing Silar as the arranged financing vehicle. GSI did tell the public about a few of the transactions, but no one could understand the gravity of the situation, no dots connected at this point. The stock continued to languish in obscurity.
e. The Company gave the public a hint of another operation that has been planned and implemented in the dark, the Joint Venture with Medicredit, Inc. The investigation revealed that 3 former Lasalle bank executives that have formed a fund of late, have contacted GSI with a proposal to finance the purchases of no fault insurance claims from medical practices, hospitals, and other firms. This business plan is unfolding and will be implemented eventually in all of the 12 states that require no fault coverage for their residents. It is my understanding that GSI/Medicredit are 50/50 in this JV and they have intersted parties at the door ready to sign. This is a very profitable plan, with this service, Doctors and/or medical facilities need not wait for payment after they treat accident victims, GSI/Medicredit steps in and advances 50% of the claim immediately, then takes over the claim in a legal and operational sense.
f. The Company divulged yesterday after close that Dr. Steve Phillips was elected to the board and is a GSI shareholder. Now folks, this just about blew me away. GSI now has a international name in the medical field on the board of directors and is a GSI shareholder. Phillips, is associated with DaBakey, and with Bob Jarvik, the inventor of the artificial heart. If that wasn't enough, Phillips is a close confidant of Bill and Hillary Clinton, in fact, Clinton at one time asked Phillips to head the FDA. This is only one of the murky connections Phillips has with the former and possible future residents at 1600. Of note, the Clintons are very close to the Stephens folks in Arkansas, one of the many firms that GSI consulted with prior to implementing their now unfolding business plan. If you have ever visited Aspen, you know that the Phillip's residence (a masterpiece that is worth at least 10 m) is locally known to be the Clinton hideout during their trips to the mountain resort.
g. GSI has under contract, the two largest and most effective processors for the receivables purchased. All of the paperwork and electronic filings are handled by these firms, who are adding additional staff, anticipating GSI's increased market presence. The firms combined employ 250 at this time.
h. All of the receivables purchased by GSI are subject to intense due diligence and are included in a UCC filing protecting GSI/Silar from all exposure. In practice, the participating facility legally transfers all rights to the money and it is not subject to any outside interference. This means that GSI/Silar have complete and total control over the funds, from start to finish. This is why the receivables may be eventually rated by S&P or another rating service, this would be triggered in the event that GSI's demand on Silar exceeds Silars ability to accomodate the growing numbers.
Translation: GSI is positioned to access the bond markets when it becomes strategically neccesary.
The numbers involved here are simply mind boggling, using a very low known market potential of 400 b, and applying very conservative 1% penetration figures, here is what GSI can do on just the medical financing end with the institutional receivables: (keep in mind this does not account for any success the Company may enjoy in the no-fault business they are developing)
These numbers are per 12 month period:
Estimated:
400 b (low figure, could be as high as 600 b)
4 b GSI 1% penetration
400 m GSI net (10% average of gross financed)
costs:
130 m Financing cost to Silar/Leeds/Bond Markets
130 m Cost of processing claims and legal counsel
25 m GSI consolidated internal (costs of marketing/offices)
140 m net net to GSI
Apply your own PE to the estimate.
If you don't think the numbers are valid or reasonable using the 1% penetration, cut them by 90%.
Thank you for your time, good luck and health to all."
Hi ford.
I'd be interested. I appreciate you offering ;>()
my email address is no_sk8erboi@hotmail.com
Lil Jazz - R U a Koinonian? R U in that picture?
MBL
Hi lowtrade.
I hate to bother you twice in one week but GSI Securitization Ltd (GSIEF) seems to be attracting alot of attention on IHub and they've been pumping out NR's like crazy (7 since June 21st).
I enjoy reading this board and am hoping you can take a look at this stock to see what the charts say.
TYVM
MBL
Yes Leighoh1
I've been reading this board all week and I think we've got a good group and a good stock!!!
With your track record lately, its a good omen to see you and Joe on this board - hehe
GLTY
Thanks for the PM Penny (I can't PM back)
I plan to do exactly what you are suggesting.
cheers,
MBL
Thanks for taking the time to answer my question
Looking forward to watching this stock run.
MBL
Hello investwise.
I bought shares of this stock today.
Obviously, I believe in this company since I bought shares, but should we be concerned that 2.4 million shares of the 12 million float were traded today - that's 20% of the float.
I know people bought at a penny or two and could be taking profits, but who would wanna take profits just before this pig flies?
typical historical volume for this stock is rarely over 200,000
appreciate your comments and insight
MBL
Thanks Jack!
oh and hubluv and ford -> U R crazy - hehe just kiddin'
Thanks ford.
OT: since it's a holiday I'll post something off topic.
Remember - do your own DD, and trust your own instincts, not mine
I don't own this stock yet. I woulda bought yesterday but my TDW can't find the symbol or company when i search - the F at the end of the symbol means foreign or grey stock. Guess I'll have to do it the old fashion way and phone my broker - hehe
Must read:
http://www.investorshub.com/boards/read_msg.asp?message_id=20966113
company info on Pinks:
http://www.pinksheets.com/quote/company_profile.jsp?symbol=GSIEF
IHub board:
It's still under the radar with only 46 board marks:
http://www.investorshub.com/boards/board.asp?board_id=9630
I think what Lil Jazz has been trying to convey is that being assistant moderator, without a moderator, is consuming more time than he or prado are able to commit to. I certainly hope they both stay as asst mods when a replacement for Sentinel has been found.
I was\am reluctantly agreeing to do this, if no one else wants the job, when I return in mid-august.
to_profit, after reading your post below, I really felt the need to voice my opinion.
Continued silence by ACMG until late August might be part of SIAM's greater plan, but by the beginning of September, after the plant should have been built and contracts with A-M Polymers initiated and we still have no news, we will\should take some group action.
If that turns out to be the case, and a moderator will be collecting personal information and dealing with authorities, we should probably elect a retired lawyer, such as our own JerryB, or a seasoned and well respected IHubber, like ACMG's first moderator Art2Gecko.
I'm sure there are also regular ACMG posters, also held in high esteem, who would have the confidence of this board, and thus feel comfortable providing personal information to him\her.
Since this is a holiday and people might not read your post, you should repost it again next week, if this discussion fades out.
I think I have 2 posts remaining tonight.
MBL
osted by: to_profit
In reply to: fordisamerica who wrote msg# 30434 Date:7/4/2007 9:25:27 PM
Post #of 30446
Good point, "ford"!
I don't think we need a board moderator, as long as we are a great team of ACMG investors built from people who respect each other. However, I think we need to elect our official MB representative to communicate with SEC when it comes to.
I also think we've arrived at the point where we need to prepare a letter to the SEC in which we should express all our concerns regarding the Co. This letter should contain everybody's personal information (name, address, phone etc.)
IMO, such a letter signed by 70+ ACMG shareholders would capture SEC’s attention much more effectively than our individual complaints.
In order to do this the elected person has to collect our personal info, put it in the letter, (which we will prepare jointly) and send it out to SEC.
Let’s discuss my proposal please!
Thanks,
profit
Hi ford.
Yes, very good point. to_profit makes many good points ;>)
I commented on his post already in this link:
http://www.investorshub.com/boards/read_msg.asp?message_id=20956566
as for who was corresponding with Stefoglo:
Posted by: ezxccsc
In reply to: Jack E-T who wrote msg# 28747 Date:6/19/2007 8:04:36 AM
Post #of 30445
Am here now whats up Evengy latest e-mail which I opened this morn states
Hellow,
I spoke with my lawyer and he was very dissatsfied I gave you information nathing know who are you (logically of course). And he said that that need to wait middle of july and then close contact with him. Did yoy speak with persons I gave you phones numbers?
best regards
Evgeny
Hello Nuthin and welcome to the ACMG board.
This may be off topic but...
The best place to find out this information is on the Select American Board:
http://www.investorshub.com/boards/board.asp?board_id=8969
The company website of the newly formed company taking over for SAT is Fairross and their web site lists what a TA does:
http://www.fairrossstocktransfer.com/services.asp
I will give you a brief synopsis.
Select American Transfer is the TA being charged and 10 companies that they represent have been charged and halted by the Ontario Securities Commission (OSC). You would think that the SEC and DTC would be working in conjunction with the OSC but that doesn;t appear to be the case.
Of the 10 companies halted by the OSC, I believe 7 of them are still trading.
The SEC has halted 3 of them.
I think there are basically 2 allegations against SAT.
1) their employees, namely Jason Wong and John Sparrow, went on a barrage of hijacking domant defunct shells and illegally reviving them and issuing billions are phantom shares into the market.
2) Illegally issuing phantom shares into the market of other clean shell companies that SAT represented
The Ontario Securities Commission (OSC) has issued a notice of hearing against Toronto-based transfer agent Select American Transfer Co., six allegedly associated individuals and 10 companies traded on the wild, wooly and largely unregulated U.S. pink sheets. The Ontario regulator has penciled in a hearing date of June 1.
Among the individual respondents named in the OSC action are Amy Giles, Nathan Rogers, David Watson and Jason Wong, identified as principals or former principals of Select American.
The regulator also identifies Kervin Findlay and John Sparrow as participants in the allegedly fraudulent scheme involving a number of previously dormant or inactive pink sheet companies that might be the victims of a relatively new scam, corporate identity theft.
The companies named in the OSC proceeding include The Bighub.Com Inc., Advanced Growing Systems Inc., LeaseSmart Inc., Cambridge Resources Corp., NutriOne Corp., International Energy Ltd., Universal Seismic Associates Inc., Pocketop Corp., Asia Telecom Ltd. and Pharm Control Ltd.
The notice of hearing comes in the wake of temporary orders effectively cease trading the respondents that were issued by the OSC on May 18 and May 22.
Given Canada's patchwork of provincial securities regulators, of course, the OSC's temporary orders only carry any weight in Ontario and trading in most of the named securities continues largely unabated on the mighty pinks.
According to the OSC allegations, the corporate identities of the 10 pink sheet companies were assumed with the help of Select American, its principals, former principals and others including Mr. Findlay and Mr. Sparrow.
The regulator says that Select American, "acting as the transfer agent to these companies, may have issued false certificates for trading in securities of these issuers" on the pink sheets.
The OSC further claims that it appears that Select American and the individual respondents may have breached Ontario securities law and engaged in "acts, practices or courses of conduct" that "resulted in or contributed to a misleading appearance of trading activity in, or an artificial price for, the securities."
Identity theft
As noted above, alleged security fraud involving corporate identity theft is a relatively new scam to hit the scandal-plagued pink sheets.
In its temporary orders and subsequent notice of hearing, the OSC provides nothing in the way of details regarding the mechanics of the alleged scheme involving Select American and the associated respondents.
In fact, apart from vaguely claiming that the 10 named companies "assumed the corporate identities of dormant or inactive companies" previously quoted for trading on the pink sheets, the regulator does not even offer a general account of how the scam allegedly worked.
Stockwatch's early review of the scheme, however, indicates that, in at least some cases, the allegedly fraudulent activity may have turned in part on the filing of incorporation documents and subsequent amendments to those documents in states such as Florida and Nevada, which are popular jurisdictions for pink sheet and OTC Bulletin Board promotions.
Stockwatch will continue its examination of the alleged scheme in future articles, but will open with a review of BigHub, which appears to be a major spoke in the OSC identity theft probe.
The BigHub.com
While the OSC's temporary orders and notice of hearing are short on details regarding the allegedly fraudulent scheme, it seems likely that recent shenanigans involving BigHub.com and Select American played a significant role in precipitating the regulatory action.
BigHub's colourful corporate history, which undoubtedly deserves a more extensive review than can be offered in this opening article, traces back to February of 1995 when it was incorporated in Florida as Coordinated Health Care Inc.
After a money-losing stint as a physician management outfit that operated medical clinics in Florida, the company gravitated to the Internet and amended its articles of incorporation to reflect a name change to iSleuth.com in July of 1998.
In April of 1999, the company changed its name again, settling on BigHub and catching the tail end of the Internet bubble as an OTC-BB promotion.
Along the way, BigHub hooked up with touted venture capitalist and self-described "deal pimp" Sanjay Sabnani, who helped promote a number of Internet players.
(Readers may recall one of Mr. Sabnani's subsequent stints as the U.S. investors relations representative for Imagis Technologies Inc., a ballyhooed Vancouver-based biometric outfit with a large OTC-BB following that imploded amid Stockwatch's extensive coverage of the overblown promotion beginning in early 2002.)
In any event, after the switch from iSleuth to BigHub, the fluffy OTC-BB promotion ramped up in early 1999. In May of that year, the stock hit its all-time high of $15.50 per share before quickly going into a nosedive. (All amounts are in U.S. dollars.)
Coincidentally, and perhaps of at least some passing interest, BigHub and its predecessor iSleuth were touted on an Internet site reportedly owned by Meir Lehmann and Alain Chalem, a pair of stock promoters with some regulatory baggage and purported ties to the Mob.
In October of 1999, 41-year-old Mr. Chalem and 37-year-old Mr. Lehmann met with a rather grisly death in a mansion in Colts Neck, N.J., apparently victims of a Mob-style execution.
Mr. Chalem was shot in the eyes, ears and mouth while Mr. Lehman was reportedly shot several times in the back of the head. The murders remain unsolved.
By May of 2000, just a year into the promotion, BigHub was struggling to stay above $1 per share and before the year was out shares were changing hands for just a few pennies.
On Sept. 22, 2000, Florida's Division of Corporations administratively dissolved BigHub for failing to file its annual report with the state.
On Jan. 26, 2001, BigHub filed a notice with the U.S. Securities and Exchange Commission (SEC) advising that its annual report for the year ending Oct. 31, 2000, would be late.
That notice marked the company's last SEC filing, and the annual report with the necessary audited financial statements never materialized.
By the end of 2001, BigHub was just another subpenny Internet promotional bust that went on to eke out a few trades at tenths of a cent on the pink sheets.
The doppelganger
On July 8, 2005, more than five years after BigHub had issued its last news release and just shy of five years after the company was administratively dissolved, OSC target Mr. Wong filed incorporation documents for a new BigHub.com in Florida.
Another respondent in the OSC action, Mr. Sparrow, was identified as the only director of the allegedly bogus incarnation of BigHub.
On Oct. 21, 2005, Mr. Sparrow's doppelganger BigHub issued its only news release, announcing preparations for the launch of an online automobile auction site and planned diversification into related services such as vehicle financing.
Nothing came of the planned website and, at least in the early days, relatively little came of the planned promotion.
While the trading volume increased somewhat through the end of November and into December of 2005, with a few million shares changing hands on some days, the price dropped from tenths of a penny to hundredths of a penny.
The relatively modest interest in BigHub waned in early 2006, with only a few thousand shares changing hands on some days through the first few months of the year. In fact, on several days no trades at all were registered.
As will be discussed in more detail in a future article, the allegedly bogus BigHub's articles of incorporation were amended in March of 2006 to reflect a name change to a completely different corporate identity.
In June of 2006, the trading volume increased dramatically, with tens of millions of shares regularly changing hands at one-100th of a penny. Before the year was out, BigHub notched several days when more than 100 million subpenny shares traded.
The trading volume tailed off somewhat in January and February of this year, then exploded in March.
On March 8, BigHub recorded a whopping volume of more than 1.3 billion shares and went on to tally a monthly trading total of more than 7.3 billion shares.
Evidently the remarkable March trading volume rather belatedly caught the attention of an early original BigHub stakeholder, Yucatan Holding Company.
On March 28, Darrell Peterson of Yucatan Holding, which was identified as "holder of the majority of shares to be received pursuant to a certain Voting Agreement and Irrevocable Trust dated April 1999," reported that the company was concerned about the trading activity inasmuch as it seemed "to be excessive considering the current share structure."
Some Internet followers of the unfolding brouhaha interpreted that news release to mean that Yucatan Holding was actually the majority shareholder of BigHub. However, there is no evidence to suggest that is the case.
According to a Nov. 17, 2000, SEC filing, the voting agreement and irrevocable trust mentioned in the March 28 news release originally covered approximately 1.9 million BigHub shares owned by Yucatan Holding and another aggregate 125,000 shares owned by two individuals.
Under the terms of the agreement executed with iSleuth player Robert McNulty, well known to securities regulators, Yucatan Holding and the two smaller shareholders, collectively known as the Yucatan Group, granted Mr. McNulty a proxy to vote their shares for a period of three years.
In return for the proxy covering approximately 2.1 million shares, the Yucatan Group obtained a guarantee that the shares would have a minimum value of $6-million.
In the event the aggregate value of the shares, taking into consideration the gross proceeds of any shares sold and the market value of the remaining shares, fell below $6-million after two years, the company was supposed to make up the difference by issuing additional shares to Yucatan Holding and the two smaller shareholders.
If Yucatan Holding had held on to the approximately 1.9 million shares originally covered by the agreement, it would have been entitled to another 938 million shares based on the formula for calculating the minimum guaranteed value of $6-million, given that BigHub was trading at six-10ths of a cent in April of 2001.
It is not clear what became of the voting agreement and irrevocable proxy or, for that matter, the peculiar minimum valuation guarantee. However, there is nothing to indicate that BigHub ever issued shares to Yucatan Holding pursuant to the $6-million minimum valuation guarantee.
In any event, on April 2 of this year, Jayme Dorrough, Yucatan Holding's signatory to the peculiar eight-year-old voting agreement with Mr. McNulty, was appointed to BigHub's board of directors.
At the same time, Mr. Peterson assumed the role of interim president of BigHub. Given that the "real" BigHub was administratively dissolved in 2000, the legal basis for these appointments is far from clear.
On April 5, Mr. Peterson reported that the company had filed the previously delinquent annual reports required by Florida. The administrative dissolution of the original BigHub was reversed on April 6.
Within a few days of those developments, a dispute with the doppelganger BigHub's transfer agent spilled into the open.
Select American spat
On April 10, BigHub's interim president Mr. Peterson announced that Select American had advised the company that there were more than 1.58 billion shares issued, a staggering increase over the approximately 21.6 million shares reported in one of the company's last SEC filings in 2000.
According to Mr. Peterson, that figure exceeded the number of shares the company was legally authorized to issue by more than 1.53 billion shares.
Moreover, Mr. Peterson claimed that it represented approximately 1.56 billion shares more than indicated by BigHub's corporate records.
Adding another wrinkle to the imbroglio, Mr. Peterson went on to suggest that the excess shares were actually connected to a Delaware corporation unaffiliated with the real BigHub.
In fact, yet another BigHub had been incorporated in Delaware in 1999, but had been delinquent with its annual reports since 2001.
It appears that the Delaware BigHub had a brief revival in August of 2006, but its resident agent resigned in November of last year and its corporate status was forfeited on Dec. 17, 2006.
It is still not clear what role, if any, the Delaware doppelganger played in the BigHub morass.
In any case, Mr. Peterson reported that BigHub intended to hire lawyers in Florida and Toronto to have the unregistered shares issued by Select American between Sept. 8, 2005, and Oct. 25, 2006, cancelled and action taken against the parties who received the shares.
The interim president went on to say that BigHub would be seeking damages of more than $6.6-million in connection with the share issuances.
On April 11, Toronto-based Select American fired back with its own press release, claiming that BigHub's news release was false or misleading.
According to Mr. Rogers, then president of Select American and now a respondent in the OSC action, his company had resigned as BigHub's transfer agent "months ago."
Mr. Rogers said that the information that Select American had recently provided to BigHub "was unverified and required further review and verification before making such information public."
OSC target Mr. Rogers went on to say that Select American wanted to set the record straight "as such misinformation could harm our reputation and it could force us to seek damages from those who maliciously harm our corporate name and image."
With that, the battle heated up.
On the heels of Mr. Rogers's news release, Mr. Peterson followed up with his own April 11 release disputing many of Select American's claims and publicly lamenting that the transfer agent's leader had not returned a March 28 call.
Among other things, Mr. Peterson said that Select American's shareholder activity list showed that shares had been issued to Cede & Co. as late as March 20, which seemed to contradict the transfer agent's claim that it had resigned months ago.
BigHub's interim president went on to claim that, based on information provided by Select American, more than 1.5 billion unregistered shares had been issued to 30 individuals and entities in Toronto.
Mr. Peterson added that the records showed that Select American had also issued 10 million unregistered and free trading shares to Mr. Sparrow.
"It appears that Select is trying to cover-up misdeeds in the issuance of shares," Mr. Peterson claimed.
"The current management and directors of the company will continue to state the facts as received and to bring full disclosure to the investors and shareholders of the company as soon as possible," BigHub's interim president said in closing out his April 11 news release.
The following day, Select American's Mr. Rogers let loose another salvo.
According to the April 12 blast, Select American did not provide BigHub with a certified shareholders list, but a preliminary list that required further review had been forwarded to the interim management of the company "as a courtesy."
Mr. Rogers insisted that Select American had resigned as transfer agent months earlier and, at the same time, sent the transfer records back to the company.
"Select American Transfer Co. only issues shares after receiving DIRECT INSTRUCTIONS from company officers and or directors and the The BigHub.com Inc. was no exception," Mr. Rogers proclaimed. "All shares have been issued after receipt of written instructions from previous management."
Select American's leader went on to hint at the possibility that Mr. Peterson had improperly usurped control of BigHub.
"To the best of our knowledge, US tax legislation and or regulation clearly defines a time period for a person and or entity to convert outstanding debt into shares," Mr. Rogers remarked. "We believe that the interim management has lost its right to do so if this is their approach in assuming control over The BigHub.com Inc."
Select American went on to deliver a few more shots at BigHub's new management.
"It is our belief that the interim management is attempting to manipulate share price through its actions at the expense of a former Transfer Agent," the April 12 news release continued. "We hope this assertion will draw the necessary attention of all shareholders as such actions can harm them as well."
Mr. Rogers closed out the news release with a final volley.
"Mr. Peterson has not been called back by me personally because he has already misused and manipulated unverified information given by our staff to him in good faith," Mr. Rogers remarked. "His PR's clearly demonstrate an attempt to distort the facts in order to mislead BHUB shareholders and manipulate share price.
"We are not going to waste any more time or resources with this matter but we are so disturbed by his actions that we will contact the SEC through our attorneys to let them know about his actions."
As BigHub and Select American were blasting away at each other, the Depository Trust Company (DTC), the U.S. behemoth with subsidiaries that provide essential market services such as clearing, lumbered into action.
On April 11, the DTC issued a notice that it was suspending all services with the exception of custody services for BigHub and warned its participants "to take whatever precautions are necessary to protect themselves and their customers."
That effectively brought an end to trading in BigHub shares, but the National Association of Securities Dealers (NASD) followed up with its own trading halt on April 12.
While the trading at least temporarily stopped on April 11, the BigHub drama continued.
The aftermath
On April 13, Yucatan Holdings announced that it had brokered a deal in principle between BigHub and Techlabs Inc., a company then trading on the OTC-BB.
Under the peculiar "deal in principle," Techlabs planned to "forward split its shares one hundred to one and to tender for all unregistered shares issued to investors of BHUB on a one for one basis."
"Techlabs Inc. plans to assume the rights and privileges of the shares and intends to pursue all available legal remedies, with The BigHub.com Inc., against unnamed parties that were in receipt or responsible for the issuance of the unregistered shares attached to BHUB," the April 13 news release advised.
Just why any company would want to acquire more than 1.5 billion shares that were allegedly issued improperly remains a mystery. In any event, that proposed deal may have collapsed.
Techlabs was subsequently booted down to the pink sheets for failing to file timely reports with the SEC.
On May 16, Techlabs announced a 10-for-1 forward split of its stock, but no mention of any deal with BigHub has been made since April 13.
Meanwhile, on April 18, BigHub reported that it had received a position report from the DTC "confirming the 'uncertified' share position" provided by Select American.
"Any illusion created by Select by virtue of their previous press releases that we were misleading or false in our reporting to shareholders should now be put to rest," Mr. Peterson remarked.
BigHub's interim president went on to say that the company was working quickly to file actions against parties believed to have acted in a reckless and illegal manner to the detriment of the corporation and its shareholders.
"Based on the information received and investigated by the Company we are proceeding with our goal to file an action in Federal Court against all parties involved in the scheme," Mr. Peterson declared.
Intriguingly, a spreadsheet of shares purportedly issued by Select American has been posted to Investors Hub, a popular Internet stock discussion site, by a poster who has been closely following the controversy.
According to the rather detailed information, which includes the amount of shares issued, dates of issuance, as well as names and addresses, hundreds of millions of shares were issued to Ontario residents.
BigHub shares appear to have been quite popular among people with Russian or eastern European surnames living in Vauhan and Richmond Hill, Ont., who account for several hundred million shares. Interestingly, a surprising number of those share issuances to several individuals with different surnames are recorded under a single address.
In another development, on May 7, Select American announced the "corporate restructure of its ownership and executive management following recent allegations involving a former client of the firm."
Select American was reportedly acquired by FJ Consultants Inc., a company owned by Jacqueline Rossel.
Ms. Rossel has taken on the role of president and Mr. Rogers has resigned from all offices at the transfer agent.
According to Ms. Rossel, Select American is changing its name to Fairross Stock Transfer and relocating its offices to the TD Canada Trust Tower in Toronto.
It remains to be seen just how all that will play out.
It also remains to be seen exactly what will come of the OSC action and whether it will shed any light on muddles such as BigHub.
Stockwatch will pick up its review of other corporate respondents and associated players in future articles.
Apart from 10,000 shares that apparently managed to squeak through at one-100th of a penny on April 26, BigHub last traded on April 11 when more than 948 million shares changed hands as the stock closed at 26-100ths of a cent.
Comments regarding this article may be sent to lwebb@stockwatch.com.
Posted by: nuthinbutnet57
In reply to: None Date:7/4/2007 7:23:48 PM
Post #of 30435
I am new to the Board but have been following the Board's discussions for quite a few months and can put me down for 800,000 shares owned.
One area of discussion in the past has been the market maker/transfer agent in the stock being investigated where other stocks being handled by this company have been suspended to trade...would someone please educate me on exactly what has taken place concerning this transfer agent and what a transfer agent does for a company? Is ACMG the only remaining company not suspended or are there others. Also what is the relationship between the TA and a particular company stock that would justify the suspension in trading that company's stock? Wasn't there a group of companies on suspension? Does anyone know if these companies are still suspended or have they progressed in some form or manner to be able to trade again?
Thanks in advance
I am sending another email to Jocelyne David, Investigator Autorité des marchés financiers
I want to know if it is appropriate, and ok with the board, if I include the following information at the bottom of my letter:
The reasoning being is that she is not replying to me, so I thought I would throw her a bone to catch her attention.
I want to know if they have concluded their investigation of ACMG or if it is still ongoing.
If MORE THAN two members object, I will not include the shareholder info in my letter.
BTW, I am a member of a stock internet board and we are in the process of compiling the number of acmg shareholders and the shares that they own.
Currently, 69 shareholders have responded. 45 of these 69 have told me the amount of shares they own.
The total of shares owned, so far, by these ACMG shareholders is 16, 639,561 of the 45 million float.
I expect by the time we are finished compiling this list, we will own 25 million shares of ACMG.PK
Hi Jack.
Since Jocelyne contacted you, do you mind sending her an email, asking her if Alcar is still being investigated by her department?
I sent her an email but she never replied to me.
I would just ask the same, or similar, question i have written above.
If you ask too many questions, or request too much info, she might ignore you also.
Please let me know.
thanks,
MBL
Message In Reply To:
Jersey, This is his/her E-Mail address.
David Jocelyne [Jocelyne.David@lautorite.qc.ca]
Hehe
With any luck, ACMG shares will be worth $10.00, we'll all be rich, and Sentinel will be back moderating.
Ahhh, it's nice to dream :)
Wow, that's the second offer I've had to moderate an IHub board this week - hehe
I appreciate the offer Jazz but in 9 days I am taking off for a month's vacation, and I'm gonna try my best to avoid using my computer, and instead spend my time on the beach sippin' Margaritas.
I'll still check in and read posts from time to time, but hopefully not that often.
Come mid-August, if there still isn't a moderator, and the board still exists, I may consider at that time. I'm sure by then you'll have found someone.
cheers,
MBL
I am not saying that we have 25 million shares now and none of us have traded a single share since we've owned them.
Of course, shareholders have sold on the run-ups and bought back again on the dips.
You also have to factor in such things as SAT issuing phantom shares and the Naked Shorting.
As for comparisons, let's look at AURC:
05/18/07 9,844,984
05/17/07 11,980,637
05/16/07 55,226,984
05/15/07 11,319,901
05/14/07 10,031,172
In 5 trading days in May, it traded 100 million shares.
What I am saying is that if Alex dumped his shares in Feb or March, the float would be 113 million and us IHubbers would most likely own 50-60 million shares, but we don't - we own the same amount now as before the big increase in volume with the NR campain's of Feb and March
correct.
solar365 stated that when he dumped his 1 millions shares, it caused the shareprice to drop from 0.049 to 0.04.
Read it here:
Posted by: solar365
In reply to: None Date:4/2/2007 2:57:32 PM
Post #of 30409
My apologies...
I drove this thing down from .049 to .04 just trying to sell my second half million (I sold the first half last week). That's pretty inelastic!
I'll keep watching this from the sidelines. Han thanks for all your valuable persistent input related to SLJB and Thailand DD. It saved me a lot of money on my first half million and I think it will save me money on the second half that I just sold.
I'd love to stick around but I don't have a strong stomach for the impending personal attacks about my weak hands. I'm doing my best based on the facts as they have come in and I lost about 35% of what I've invested, which isn't too bad to me. I only have to make 50% somewhere else to get it back.
If this thing turns out to be real, I'll see you all above 20-50 cents! Good luck
Solar
-------------------------------------------------------
When Pete dumped his shares the stock price went from 0.02 to subpenny.
Imagine where we'd be if 68 million shares were dumped.
If we hold less shares now, than before the MN1 no-show, how can you say 68 million shares were dumped since MN1?
I think this has been explained in the FAQ section and NR's.
By 2010, the O/S will be 250 million, increased from the current 118 million. The increases will be done over a 4 year period. I think the shares will go to the SIAM group.
http://biz.yahoo.com/iw/070319/0228080.html
MBL
Lil Jazz.
Since Sentinel is no longer our moderator, it might be a god idea for you to create a hotmail account and post it on your profile, for people that would like to contact you privately but cannot send PM's
just a thought.
MBL