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SEC 10-Q 2020-11-13
Note 4 – Related Party Transactions
For the nine months ended September 30, 2020, we accrued $3,642 of interest to the 22nd Trust (the “Trust”), the trustee of whom is Sonny Nugent, the son of our major shareholder and former Chief Executive Officer, Micheal Nugent. The outstanding balances of unpaid principal and interest at September 30, 2020 were $103,368 and $29,060, respectively. The outstanding balances of unpaid principal and interest at December 31, 2019 were $98,032 and $25,361, respectively.
According to our agreement with Mr. Nugent, we accrue interest on all unpaid amounts at 5%. Principal and interest are callable at any time. If principal and interest are called and not repaid, the loan is considered in default after which interest is accrued at 10%.
TTCM = TickerTape ConMen
Tautachrome appearing on social media https://www.urbandictionary.com/define.php?term=TTCM
LOTS of thumbs up
So this scam is still going!!! Haven’t looked for a while but I see interest in this company is still close to zilch (as it should be). At least the stock price is somewhat realistic, if a little overpriced by 1/10 cent. Oh well Nugent/DLM are making coin and that’s all that matters. Anyway the reason I was reminded to check this out was a linked reference that I’d found to the definition of ARknet on Urban Dictionary [https://www.urbandictionary.com/define.php?term=ARknet]- and then saw how many thumbs down it receives.
He was backing NOVZ, the perpetual motion machine scam, another Nugent scam. And look how that turned out...
How is this SCAM still rolling? Are people that stupid to believe the conartists that are TTCM/NOVZ/Roadships/Nugent?
Surprised to see that the stock price is WELL above what it's really worth.
TTCM News: Quarterly Report (10-q)
Note 4 – Related Party Transactions
For the six months ended June 30, 2020, we accrued $2,420 of interest to the 22nd Trust (the “Trust”), the trustee of whom is Sonny Nugent, the son of our major shareholder and former Chief Executive Officer, Micheal Nugent.
Scam company, as long as a Nugent is involved ie SONNY NUGENT
Pokemon & Pacman were at least interesting & made you want to buy them...
and weren't just shit apps made by a scamming fraudulent company
Scam. Will fail just like Novagen Ingenium & their magical magnetic engine company which is in the process of being deregistered with SEC.Just another Nugent/Leonard scam.
It's a scam, Dr Hat leading the charge...
WEEEEEEEEEEEEEEE because it's only worth horse p*ss
The scam is executed with the following steps:
• Visionary develops an astonishing breakthrough.
• Company announces this amazing breakthrough without any validation, to promote the company (the company has already issued several statements and releases on this technology).
• Visionary surrounds himself with key names,.
• Makes sure that all management in the company are “in” through issuing stock (all upper management, the BOD and audit committee members have received stock or options, or associated companies).
• File patents with major patent firms (which may or may not be issued).
• Throughout the process, insiders sell off millions of shares pocketing a fortune.
• Investors spend millions on a triumph of “hope over reality”. The company eventually folds leaving investors holding the bag.
The scam is executed with the following steps:
• Visionary develops an astonishing breakthrough.
• Company announces this amazing breakthrough without any validation, to promote the company (the company has already issued several statements and releases on this technology).
• Visionary surrounds himself with key names,.
• Makes sure that all management in the company are “in” through issuing stock (all upper management, the BOD and audit committee members have received stock or options, or associated companies).
• File patents with major patent firms (which may or may not be issued).
• Throughout the process, insiders sell off millions of shares pocketing a fortune.
• Investors spend millions on a triumph of “hope over reality”. The company eventually folds leaving investors holding the bag.
Another pie-in-the-sky scam by Nugent & Dr Hat, same bull as Novegen Ingenium rip, Roadships, Roadbees, CCyclone Engines, Nugent Engine Technologies.
Basically they're nothing but criminals...
re: post #1214 Well, that seems to be the last call for this scam. I'm deeply saddened for the people who were scammed out out of their life savings & superannuation (esp around Lismore NSW) & were NEVER going to get it back. Meanwhile, Nugent, McClelland, Foster are living the highlife on other people's hard earned cash, gained through their criminal(?) undertakings. I would imagine that the scammed people now have little/no recourse to recover that money. All the main people have now moved on to the next scam - Tautachrome. They hide behind many companies, old one's being (in part) Roadships, Ccyclone Magnetic Engines, Nugent Engine Technologies, Roadbees etc etc.
As for Tautachrome, it may sound like a real product (& indeed partially/probably is), but con artists have also tried (& in some cases succeeded) to sell the Eiffel Tower/ Sydney Harbour Bridge etc etc.
ARKnet Tautachrome, Michael Nugent/ Jon Leonard (Dr Hat - lol) et al on to the next go nowhere scam...
Why are we waiting, why are we waiting...
'cos Patrick has finally figured out that he made an inefficient electrical motor (from making it in a piston-type motor configuration instead of a normal rotary one)
and so consequently their is NO DEVELOPMENT going on AT ALL. Meanwhile Nugent gets drunker & drunker in a empty workshop. I am still amazed how many people could be so STUPID to think that it will work (magic/ god's intervention?). Still, I 'spose that it did work - to seperate people from their money.
PS you can also download FOR FREE more RAM to your PC - https://downloadmoreram.com/
post 1130 which was redacted, was a poor attempt by Oziebob to explain his misogyny.
BULLSH*T!. If that is really what you thought, then why parse your previous comments as such!
This is the same line of thought that Nugent carries on with & then expects people to believe it!
Misogyny is an inherited curse that should be regarded as both offensive & outdated (though that never made it right).
Politicians ie Trump love rolling back their words & making it sound as if they were okay, that's EXACTLY what you're doing. Why pretend? Why protect Nugent the fraudulent scammer?
It matters not that the directors of the company know that the "perpetual motion engine" is a con, the Nugents/Fosters/McClellands of the world would still carry on their money-making (for them only) scam EVEN with a genuine product.
Thanks for the riveting update Blob.
Well, more than you or Sonny Nugent (not the sharpest pencil in the box, has his dad help him put his pants on the right way!). Have you ever put anything up on this board apart from "we'll be there sooooooooooon"? (Free punctuation included ie question marks for a question)
Or indeed personally know Nugent & Green, which is why I won't reveal my real name - Nugent's temper when drunk is quite aggressive & I would rather "keep my friends close & enemies closer". Besides which then they both wouldn't confide in me & allow me access...
Yes, for instance : the Bose music system that he so proudly shows in his tweets is actually in the worker's toilet/shower area etc...
Good, so you do known what's happening at Arundel, seen the "engine" that's normally covered with a blue plastic tarpaulin (next to the broken-down forklift which they CAN'T repair!, seen the Nugent mess where he lives, the several full fridges of imported & local beers. Glad your "in the know".
Good,feel proud of yourself for ripping people off.
Worked on car today. Had car lifted with hydraulic jack, 10 times more FORCE on car mass than the magnetic FORCE they use on their "engine"...
Got to thinking, maybe I can make perpetual motion engine out of hydraulic jacks.
Or maybe I'm just mis-using/abusing/misunderstanding the laws of physics...
Any investors?
Nothing to say about the truth. Says a lot, BOBtheRICHER
Still nothing, apart from Nugent and Grohs and Foster still spending the investors money (check out their twitter feeds). Even Patrick Green has had to find another job - fixing power lines around Lismore...
... at least it's with a reputable company that actually pays real money out! (not some BS ecoin that they have made up)
Patrick couldn't even get the motor to rotate properly (probably 'cause of the high friction of the plastic square cylinders), let alone no competence on the electromagnet or ECU design). Not that rotation would give perpetual motion/energy, how come they can't even understand really, really, really BASIC physics?
But they do understand how to con people out of money, that they have (at least in the past) seem to do well in.
nb I wonder if Foster is related to the diet pill con-artist Peter Foster?
Also going from Sydney to Melbourne 2004
Sydney to Perth 2005
New York to Las Vegas 2006
Etc etc ad infinitum (literally)
Just lightening up the forum with a bit of a laugh Dave, the NEW update thang was the last one posted, directly off their Facebook page
There's a new update, come check it out!
https://m.facebook.com/AmerYcanengines/
Not that Nugent does anything apart from spending other people's money, it's his Green Patsy/slave/lackey that carries out the "work"
They never commit to saying which year, why would they? After all it's only a criminal fairytale
hi dave47, ok they went for approx 6years before being dragged up by ASIC
https://asic.gov.au/about-asic/news-centre/find-a-media-release/2009-releases/09-134ad-supreme-court-issues-final-orders-on-cycclone-magnetic-engines/
meanwhile a mechanic acquaintance who works near the Arundel workshop says that the mechanic who is actually doing the work (apparently hasn't been paid for over 15 years - either the guy is VERY deluded or part of the con and gets kickbacks) has been scrounging free motorbike batteries (can't afford new ones?), so they'll be easier to conceal. the mechanic is NOT Nugent, he isn't up to the skill required. and yes it will be the electromagnets route by the looks of it...
he'll see if he can grab a pic but he says that Nugent normally sleeps it off in garage...
I have to ABSOLUTELY agree with you, even a hackyard mechanic of Nugent's calibre wouldn't try that (at least when sober),
but as you say Bob, where is his evidence that proves his theory?
So just look for the electromagnets on piston banks and the disappearing (presumably) wires leading to batteries or mains
plastic engine it may be - BUT IT CAN BE MADE TO TURN ROUND!!!, obviously not under its own power OR producing power
https://m.facebook.com/AmerYcanengines/
using science and a bit of chicanery either
1. attach another motor to flywheel or crank
pros - starts by itself and seems to keep going
cons - even idiots would see through this
2. use f'ing big electromagnets on piston and bank of pistons to overcome the FORCE of the magnets
pros - looks techy and will fool uninformed dudes
cons - will need large amount of POWER to overcome magnet FORCE.
Will need to start rotation manually
i'd reckon they're going to use the second (looks will deceive)
Still, quick calculations will show that it will chew more power than a standard mains outlet can supply - SO LOOK FOR THE BANKS OF BATTERIES
plastic engine it may be - BUT IT CAN BE MADE TO TURN ROUND!!!, obviously not under its own power OR producing power
https://m.facebook.com/AmerYcanengines/
using science and a bit of chicanery either
1. attach another motor to flywheel or crank
pros - starts by itself and seems to keep going
cons - even idiots would see through this
2. use f'ing big electromagnets on piston and bank of pistons to overcome the FORCE of the magnets
pros - looks techy and will fool uninformed dudes
cons - will need large amount of POWER to overcome magnet FORCE.
Will need to start rotation manually
i'd reckon they're going to use the second (looks will deceive)
Still, quick calculations will show that it will chew more power than a standard mains outlet can supply - SO LOOK FOR THE BANKS OF BATTERIES