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Hi chisox!
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Sure, why not. It may not happen though until trading activity dies.
BTW, they haven't done a r/s twice (yet) in one month.
Reverse Split History
Symbol Split Ratio Date
PCCN 1:1000 R/S 01/24/2006
PCCR 1:1000 R/S 10/25/2005
PCLL 1:1000 R/S 06/20/2005
PCOR 1:1000 R/S 02/25/2005
PCCL 1:100 R/S 09/13/2004
PACC 1:100 R/S 02/25/2004
PCEL 1:30 R/S 03/17/2003
PLRP 1:100 R/S 04/07/2002
PLRPD 1:4 R/S 10/07/1999
That's too low Bucky. /eom/
Did you sign up tavy? ;o)
By my calculations, one share bought today at .0002 is equivalent to 120 quintillion shares pre-October 1999 (before all these reverse splits occurred) with a value of $24 quadrillion.
Our national debt is around $8.2 trillion. It could pay off the entire amount and leave a huge surplus. Someone ought to send Bush one share of Pacel to take care of this. lol
Unfortunately, it takes a long time for a case to go thru our court system. The feds filed a civil suit against Pacel, Calkins, and other jokers three years ago. Last year, they filed a criminal suit. Here is an update on their status:
http://www.investorshub.com/boards/read_msg.asp?message_id=9559488
http://www.investorshub.com/boards/read_msg.asp?message_id=9559620
As you'll see, neither case has gone to trial yet.
Here's a docket summary of the civil case for the last six months.
1:03-cv-02182 SEC, et al v. Custable, et al
Joan B. Gottschall, presiding
Maria Valdez, referral
Date filed: 03/27/2003 Date of last filing: 01/10/2006
Case Summary
Office: Chicago Filed: 03/27/2003
Jury Demand: None Demand: $0
Nature of Suit: 850 Cause: 15:78m(a) Securities Exchange Act
Jurisdiction: U.S. Government Plaintiff Disposition:
County: Cook Terminated:
Origin: 1 Reopened:
Lead Case: None
Related Case: None Other Court Case: None
Def Custody Status:
Flags: CASREF, VALDEZ
294 Filed & Entered: 01/10/2006 magistrate judge status hearing
Docket Text: MINUTE entry before Judge Maria Valdez : Magistrate Judge Status hearing held on 1/10/2006 and continued to 6/14/2006 at 09:30 AM. Mailed notice (yp, )
292 Filed: 12/01/2005Entered: 12/13/2005 order on motion to withdraw as attorney
Docket Text: MINUTE entry before Judge Joan B. Gottschall : Motion by plaintiff Securities and Exchange Commission to withdraw as attorney Jerome Tomas [291] is granted. Enter order. The appearance of Jerome P. Tomas is hereby withdrawn. Attorney Jerome Peter Tomas terminated. Mailed notice (mjc, )
293 Filed: 12/01/2005Entered: 12/13/2005 order
Docket Text: ORDER Signed by Judge Joan B. Gottschall on 12/1/2005.(mjc, )
291 Filed & Entered: 11/17/2005Terminated: 12/01/2005 motion to withdraw as attorney
Docket Text: MOTION by Plaintiff Securities and Exchange Commission to withdraw as attorney Jerome Tomas (Attachments: # (1) Text of Proposed Order # (2) Notice of Filing # (3) Certificate of Service)(Levine, Steven)
290 Filed & Entered: 10/20/2005 magistrate judge status hearing
Docket Text: MINUTE entry before Judge Maria Valdez : Magistrate Judge Status hearing held on 10/20/2005 and continued to 1/10/2006 at 09:30 a.m. Mailed notice (yp, )
287 Filed: 09/30/2005 Entered: 10/04/2005 order on motion for order
Docket Text: MINUTE entry before Judge Joan B. Gottschall : Motion by Mark D. Toljanic, the court appointed receiver for an order providing for interim legal fees [285] is granted. Enter order to pay interim legal fees from registry account. Mailed notice (mjc, )
288 Filed: 09/30/2005Entered: 10/04/2005 order
Docket Text: ORDER To Pay Interim Legal Fees From Registry Account Signed by Judge Joan B. Gottschall on 9/30/2005.(mjc, )
285 Filed & Entered: 09/29/2005 Terminated: 09/30/2005 motion for order
Docket Text: MOTION by Receiver Mark D Toljanic for an order providing for interim legal fees; Notice. (cdy, )
286 Filed: 09/27/2005Entered: 09/29/2005 affidavit
Docket Text: AFFIDAVIT of Cathleen M. Keating regarding motion for order providing for interim legal fees [285] (cdy, )
284 Filed & Entered: 09/22/2005 magistrate judge status hearing
Docket Text: MINUTE entry before Judge Maria Valdez : Magistrate Judge Status hearing held on 9/22/2005 and continued to 10/20/2005 at 09:30 AM. Mailed notice (yp, )
282 Filed: 07/18/2005Entered: 07/22/2005 order on motion for order
Docket Text: MINUTE entry before Judge Joan B. Gottschall : Enter order to pay interim legal fees from registry account. Motion by Mark D. Toljanic for an order providing for interim legal fees from 04/01/05 through 05/31/05 [280] is granted. Mailed notice (cdy, )
283 Filed: 07/18/2005Entered: 07/22/2005 order
Docket Text: ORDER TO PAY INTERIM LEGAL FEES FROM REGISTRY ACCOUNT. Signed by Judge Joan B. Gottschall on 7/18/2005.(cdy, )
280 Filed: 07/15/2005Entered: 07/20/2005 Terminated: 07/18/2005 motion for order
Docket Text: MOTION by Receiver Mark D Toljanic for an order propviding for interim legal fees; Notice. (cdy, )
281 Filed: 07/15/2005Entered: 07/20/2005 affidavit
Docket Text: AFFIDAVIT of NORMAN V. CHIMENTI by Mark D Toljanic regarding motion for an order providing for interim legal fees [280]. (cdy, )
278 Filed: 06/30/2005 Entered: 07/06/2005 text entry
Docket Text: MINUTE entry before Judge Joan B. Gottschall : Defendant's agreed motion for a limited modification of the Asset Freeze. Enter Agreed Order. Mailed notice (eav, )
279 Filed: 06/30/2005Entered: 07/06/2005 order
Docket Text: AGREED ORDER Signed by Judge Joan B. Gottschall on 6/30/2005:Mailed notice(eav, )
276 Filed: 06/28/2005 Entered: 06/29/2005 motion for miscellaneous relief
Docket Text: AGREED MOTION by Defendants Active Investments, Inc., Frank J Custable, Jr for a limited modification of the asset freeze (gma, )
277 Filed: 06/28/2005Entered: 06/29/2005 notice of motion
Docket Text: NOTICE of Motion by Curtis Michael Kendall for presentment of AGREED MOTION by Defendants Active Investments, Inc., Frank J Custable, Jr for a limited modification of the asset freeze [276] before Honorable Joan B. Gottschall on 6/30/2005 at 09:30 AM. (gma, )
275 Filed & Entered: 06/23/2005 magistrate judge status hearing
Docket Text: MINUTE entry before Judge Maria Valdez : Magistrate Judge Status hearing held on 6/23/2005 and continued to 9/22/2005 at 09:30 AM. Judicial staff mailed notice. (yp, )
274 Filed & Entered: 06/08/2005 set/reset hearings
Docket Text: MINUTE entry before Judge Maria Valdez : Initial status hearing is set before Magistrate Judge Maria Valdez on 6/23/05 at 9:30 a.m., in Courtroom 1300. Parties shall deliver a copy of an initial status report, to chambers, Room 1318, four business days before the initial status hearing. The parties must follow the format for an Initial Status Report found on the Judge's website available at www.ilnd.uscourts.gov, or the parties can contact courtroom deputy, Yolanda Pagan, at 312/408-5135 for a copy. If the parties have recently prepared and filed an initial status report, the submission of the previously filed initial status report is sufficient. Judicial staff mailed notice. (yp, )
-- Filed: 06/01/2005 Entered: 06/07/2005 referring case to magistrate judge
Docket Text: EXECUTIVE COMMITTEE ORDER:Case referred to Magistrate Judge Maria Valdez. Signed by Executive Committee on 6/1/05. Mailed notice(cem)
The feds filed two lawsuits - one criminal and one civil. Neither of these has gone to trial yet. Here's a docket summary of the criminal case for the last six months.
Case Summary
1:05-cr-00340 USA v. Custable et al
Date filed: 04/07/2005
David Calkins (6)
Office: Chicago Filed: 04/07/2005
County: Cook Terminated: Reopened:
Other Court Case: None
Count: 1 Citation: 18:1343.F Offense Level: 4
FRAUD BY WIRE, RADIO, OR TELEVISION AND 18:2 AID AND ABET
Count: 5-7 Citation: 18:1343.F Offense Level: 4
FRAUD BY WIRE, RADIO, OR TELEVISION AND 18:2 AID AND ABET
Def Custody Status: Released
Flag: DENLOW
79 Filed: 01/27/2006 Entered: 01/31/2006 status hearing
Docket Text: MINUTE entry before Judge Blanche M. Manning : Status hearing held and continued to 3/2/06 at 11:00 a.m. Defendants pretrial motion deadline extended to 4/15/06. Responses to be filed by 5/5/06. Replies to be filed by 5/15/06. Time excluded to 5/15/06 pursuant to 18:3161 (h)(1)(I). Mailed notice (emd, )
73 Filed & Entered: 11/30/2005 set/reset hearings
Docket Text: MINUTE entry before Judge Blanche M. Manning : Status hearing reset to 1/27/2006 at 11:00 AM. Pursuant to the briefing schedule for the filing of pretrial motions, time continues to be excluded to 3/24/06 pursuant to 18:3161(h)(1)(F). Mailed notice (emd, )
71 Filed: 10/14/2005 Entered: 10/17/2005 status hearing
Docket Text: MINUTE entry before Judge Blanche M. Manning as to all defendants: Status hearing held and continued to 12/16/05 at 11:00 a.m. Time extended to file pretrial motions. Motions to be filed by 2/15/06. Responses to be filed by 3/10/06. Replies to be filed by 3/24/06. Time excluded to 3/24/06 pursuant to 18:3161(h)(1)(F). Mailed notice (las, )
70 Filed: 09/06/2005 Entered: 09/09/2005 order on motion for extension of time
Docket Text: MINUTE entry before Judge Blanche M. Manning : Defendants David Calkins and Sara Wetzel's motions for extension of time to file pretrial motions is granted [68][66]. All other defendants granted leave to join in their motions. Responses to be filed by 11/21/05. Replies to be filed by 12/2/05. Status hearing to stand. Time excluded pursuant to 18:3161(h)(1)(F). Mailed notice (emd, )
66 Filed & Entered: 08/30/2005 Terminated: 09/06/2005 motion for extension of time
Docket Text: MOTION by David Calkins for extension of time within which to file pretrial motions (gma, )
67 Filed & Entered: 08/30/2005 notice of motion
Docket Text: NOTICE of Motion by Daniel M. Purdom for presentment of MOTION by David Calkins for extension of time within which to file pretrial motions [66] before Honorable Blanche M. Manning on 9/6/2005 at 11:00 AM. (gma, )
65 Filed: 07/19/2005Entered: 07/21/2005 order on motion for extension of time
Docket Text: MINUTE entry before Judge Blanche M. Manning as to Custable, et al: Defendant's motion for extension of time within which to file pretrial motions is granted and is joined in by all defendants unless otherwise stated. Pretrial motions to be filed by 9/1/05. Responses to be filed by 9/22/05. Replies to be filed by 10/3/05. Status hearing reset to 10/14/05 at 11:00 a.m. Time excluded to 10/14/05 pursuant to 18:3161 (h)(8)(B)(I). Mailed notice (kmt, )
60 Filed & Entered: 07/11/2005Terminated: 07/19/2005 motion for extension of time
Docket Text: MOTION by David Calkins for extension of time within which to file pretrial motions (gma, )
61 Filed & Entered: 07/11/2005 notice of motion
Docket Text: NOTICE of Motion for presentment of MOTION by David Calkins for extension of time within which to file pretrial motions [60] before Honorable Blanche M. Manning on 7/19/2005 at 11:00 AM. (gma, )
59 Filed: 06/16/2005 Entered: 06/17/2005 transcript
Docket Text: TRANSCRIPT of proceedings for the following dates: 4/18/05; Before the Honorable Sidney I. Schenkier as to Frank Custable, Jr, Sara Wetzel, Suburban Capital Corporation, North Coast Investments, Inc., Robert Luce, David Calkins, Gary Heesch, David Giles, Christine Favara, Bradley Nordling, Jesse Boskoff (emd, )
I don't know. Perhaps he couldn't find anyone. Their website has been down a long time now. http://pacel.com/
Their US sub's stock doesn't publicly trade. Its financials would be covered under the parent. ETGMF is registered as a foreign issuer. They have different reporting requirements than domestic ones.
OT: Topic: For people over 30
Canuck
« Thread Started on Today at 1:53pm »
Thought I would share this email I got....lol
********************************
When I was a kid, adults used to bore me to tears with their tedious diatribes about how hard things were when they were growing up; what with walking twenty-five miles to school every morning ... uphill BOTH ways through year 'round blizzards. Carrying their younger siblings on their backs ... to their one-room schoolhouse, where they maintained a Straight-A average, despite their full- time, after-school job at the local textile mill .... where they worked for 35 cents an hour just to help keep their family from starving to death! And I remember promising myself that when I grew up, there was no way in hell I was going to lay a bunch of crap like that on kids about how hard I had it and how easy they've got it!
But now that I'm over the ripe old age of thirty, I can't help but look around and notice the youth of today. You've got it so easy! I mean, compared to my childhood, you live in a damn Utopia! And I hate to say it but you kids today you don't know how good you've got it! I mean, when I was a kid we didn't have The Internet. If we wanted to know something, we had to go to the damn library and look it up ourselves, in the card catalog!!
There was no email! We had to actually write somebody a letter with a Pen! Then you had to walk all the way across the street and put it in the mailbox and it would take like a week to get there!
There were no MP3's or Napsters! You wanted to steal music, you had to Hitchhike to the damn record store and shoplift it yourself! Or you had to wait around all day to tape it off the radio and the DJ'd usually talk over the beginning and @#*% it all up!
And talk of about hardship? You couldn't just download porn! You had to steal it from your brother or bribe some homeless dude to buy you a copy of "Hustler" at the 7-11! Those were your options!
We didn't have fancy crap like Call Waiting! If you were on the phone and somebody else called they got a busy signal, that's it! And we didn't have fancy Caller ID Boxes either! When the phone rang, you had no idea who it was! It could be your school, your mom, your boss, your bookie, your drug dealer, a collections agent, you just didn't know!!! You had to pick it up and take your chances, mister!
We didn't have any fancy Sony Playstation video games with high-resolution 3-D graphics! We had the Atari 2600! With games like "Space Invaders" and "Asteroids" and the graphics sucked ass! Your guy was a little square! You actually had to use your imagination! And there were no multiple levels or screens, it was just one screen forever! And you could never win.
The game just kept getting harder and harder and faster and faster until you died! ... Just like LIFE!
When you went to the movie theater there no such thing as stadium seating! All the seats were the same height! If a tall guy or some old broad with a hat sat in front of you and you couldn't see, you were just screwed!
Sure, we had cable television, but back then that was only like 15 channels and there was no onscreen menu and no remote control! You had to use a little book called a TV Guide to find out what was on! You were screwed when it came to channel surfing! You had to get off your ass and walk over to the TV to change the channel and there was no Cartoon Network either!
You could only get cartoons on Saturday Morning. Do you hear what I'm saying!?! We had to wait ALL WEEK for cartoons, you spoiled little bastards!
And we didn't have microwaves, if we wanted to heat something up we had to use the stove or go build a frigging fire ... imagine that! If we wanted popcorn, we had to use that stupid JiffyPop thing and shake it over the stove forever like an idiot.
That's exactly what I'm talking about! You kids today have got it Too easy. You're spoiled. You guys wouldn't have lasted five minutes back in 1980.
Ref: http://cmkxdiamond.proboards66.com/index.cgi?board=general1&action=display&thread=1138139597
1-1000 r/s effective tomorrow.
13:30 01/24/2006 PCCN Pacel Corp. Common Stock PCCE Pacel Corp. New Common Stock 1-1000 R/S **
http://otcbb.com/asp/dailylist_detail.asp?mkt_ctg=OTCBB&d=01/23/2006
The feds have been keeping Fuego Entertainment busy w/ SB-2 amendments. They were a pretty minor player in this story and not even shooting for an exchange listing.
http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001336277&owner=include
In case you all didn't see this or it doesn't show up there, 60 minutes did a nice segment on Alberta's oil sands. This is the transcript of the show:
http://www.cbsnews.com/stories/2006/01/20/60minutes/main1225184.shtml
Can you or TSX recommend any oil sands stocks?
Yup. The feds might be investigating the task force members too. Shortly after Frizzell announced they received a subpoena, someone on proboards said it requested among other things copies of their own trading and banking records.
One could jump to the same conclusion arete said about you too. For something pretty minor, you asked this question on four boards rather than stopping the behavior by simply telling her it irritates you.
Please post the section of the client/broker agreement you feel they violate by doing this.
Many OTC companies don't have net profits yet still give out dividends. CMKX probably operated w/ a nice net loss at the time they distributed USCA, GEMM, and CIM dividends.
Nevada's laws still apply here. This event may seem less structured because these jokers aren't following them.
OT: I don't think she's rationalizing anything but simply trying to be polite. Perhaps she's concerned that you may be busy or not in a good mood. Regardless of the reason, if this habit bothers you that much then tell her. She probably has no idea it irritates you.
An open letter to the American investor from Rod Young - Eagletech CEO
I am requesting the presence of all who have the ability to attend Oral Arguments in front of the SEC commissioners on Monday February 13, 2006 at 10:00AM where I will argue Pro-Se Eagletech Communications, Inc.’s affirmative defense that the SEC has violated the Constitutional 5th Amendment property rights of shareholders by Regulation SHO’s ‘Grandfathering’ of pre-Regulation SHO delivery failures. The SEC has ruled the Company’s publicly traded shares shall be De-Registered for not filing timely reports. That ruling is stayed pending appeal to the full Commission and pending further appeal to the U.S. Federal District Court and its appeal processes.
An astonishing sequence of events has presented us with this unprecedented opportunity! Fifteen minutes eyeball to eyeball with the five Commissioners appointed by the President of the United States to send any message we wish. This isn’t about whether Eagletech Communications filed its reports and everybody knows it! This opportunity to stand before the Commissioners in my opinion may be the first last and only that most of us may ever have. Let’s together figure out a way to use it to our greatest advantage!
This is a public meeting in a 300 person auditorium. Documentary film maker Hugo Cancio has agreed to film this meeting and the Secretary’s office has confirmed that filming such meetings is a common occurrence. The Commission will supply a court reporter; the transcript will be available for purchase the next day. Enforcement division attorney and my opponent Anthony Byrne has told me that Oral Argument hearings are typically available as real time streaming audio on the Commission’s website at www.sec.gov.
Eagletech has alleged in its affirmative defenses that the SEC has illegally taken the property of shareholder’s in violation of the 5th amendment to the U.S. Constitution. By ‘Grandfathering’ pre-regulation SHO delivery failures this agency of our Federal Government has conducted an ‘inverse taking’ of shareholder’s property without due process and without compensation when ‘Grandfathering’ suspended the settlement process which they are mandated to maintain in the Securities Exchange Act of 1934. By Grandfathering and then by De-registering Eagletech shares the SEC has taken shareholder’s property and given it to the criminal perpetrators who have sold counterfeit shares to the public with no intention of, and now no requirement to ever deliver them.
To everyone’s astonishment Administrative Law Judge Kelly gave leave to appeal his decision on this theory (see pages 4 and 5 of his opinion attached to this email).
The SEC’s Enforcement Division has chosen to blatantly ignore evidence of criminal Naked Short Selling misconduct and instead has chosen to sweep the crimes under the rug by De-Registering the Company’s stock. Eagletech has provided to the SEC the following evidence of criminal misconduct:
1 A toxic PIPE financing was organized by five managing directors of Salomon Smith Barney.
2 Ten days after the initial meeting at Salomon’s World Trade Center offices the now convicted Anthony Elgindy and his Short Selling Cartel appeared on chat boards claiming that Eagletech’s was a scam and that its press releases announcing its patent were false. The patent was issued 30 days later as well as a second patent a year later. Within the year Eagletech successfully deployed its technology in the three largest telecommunications markets in the Southeast U.S., making its “Eagle1Call” product available to 9.5 million people who could purchase provision and maintain the product from the Internet in a matter of minutes.
3 Elgindy associate Peter Michaelson testified in the Elgindy trial that he and others routinely contacted the SEC with tips of “Scam Companies” his organization had targeted.
4 Within a few months SEC enforcement attorney Justin Arnold issued a subpoena for information parroting nearly word for word Michaelson’s false allegations.
5 In an article published by author James Cummins, former 15 year former SEC Enforcement Attorney Brent Baker was quoted “For years the SEC was unable to control the infamous ‘pump-and-dump’ schemes of stock market criminals across the country, and actually developed a culture that believed that illegal naked short selling may be a counterbalancing force to the pump-and-dump.” A stunning admission!
6 On July 10, 2002 Forbes Magazine published the first national ‘expose’ of the ‘Naked Short Selling/Toxic Financing’ problem wherein Rod Young and Eagletech Communications were the lead subjects of the article. Three days later Washington DC lobbyist Jack Wynn told me that Steve Forbes was contacted by someone asking him to back off the story. A year later an unconfirmed source identified that someone as then SEC chairman Harvey Pitt. Wynn would later be drafted to author a position paper on the Naked Short Selling scandal for the Busch re-election campaign. They know!
7 Two Licensed Broker/Dealers at the CBOE (Their money ended up in the same escrow account with the five managing directors at Salomon Smith Barney) who didn’t disclose that they were Broker/Dealers invested in the PIPE financing, and began short selling Eagletech stock prior to the closing of the funding (Insider Trading).
8 The New York State Supreme Court granted Eagletech its DTC and NSCC trading records. The unprecedented ruling denied the DTCC’s request for a protective order. NSCC CNS (Continuous Net Settlement) Reports confirm that those short sales failed delivery for 252 trading days (one calendar year), making them illegal Naked Short Sales.
9 DTC participant 5099 reportedly a secret account at the CDS (Canadian Depository for Securities, the CDS is a subsidiary of the DTCC) failed delivery for 212 days. DTC Participant account 5099 is reportedly a special account that clear(s)(ed) through Euroclear for seven Canadian brokerages: Thompson Kernaghan, Wolverton Securities, Global Securities, Pacific International, Canacord Capital, Yorkton Securities, Research Capital, with now defunct TK being replaced by TD Waterhouse.
10 Forensic Economist and former Undersecretary of State Robert Schapiro analyzed three years of Eagletech’s CNS reports. He concluded that 37 DTC Participant firms used the NSCC ‘Stock Borrow Program’ to fail delivery of Eagletech stock in excess of the three day delivery rule and to continue delivery failures for up to 252 trading days. In light of DTCC Deputy General Counsel Larry Thompson’s revelation that the NSCC ‘Stock Borrow Program’ is used to cure only 18% of daily aggregate fails, it could be reasonably concluded that these 37 DTC Participants manipulating Eagletech’s stock represent only the tip of the iceberg, while the other 82% of daily aggregate fails promulgate through the Ex-clearing system.
11 The SEC produced discovery evidence to Eagletech in it’s De-Registration action, 49,489 pages and an electronic trade journal of 43,723 Eagletech trades over a 17 month period. The trading documents chronicle nearly half of the trades during that period were for the proprietary accounts of the Broker/Dealers (Market Makers) presumably using the ‘Bona Fide Market Maker’ exemption. For example: the metrics of a single days trading, May 12, 2000 revealed: 110 persons bought Eagletech stock, 3 persons sold Eagletech Stock totaling 81,934 shares. 18 Broker/Dealers bought or sold Eagletech stock for their own account totaling 300,778 shares. The marketplace reported 176,300 share Volume that day. Assuming there were Zero shares available for sale and those 18 Broker/Dealers used their ‘Bona Fide Market Maker exemption’ to fill the orders there is still a discrepancy of 206,412 shares. Where did they come from? Why weren’t they reported to the Marketplace? How’s that possible? The Metrics for May 15, 2000 are similar. So are the Metrics for May 16, 2000 and on and on and on… This data was supplied by the SEC as discovery in Eagletech’s De-Registration action. When it is put back in their face they won’t even acknowledge it let alone explain it! (See the attached Excel spreadsheet - Note that the workbook file contains 21 separate sheets)
12 In 2002 Eagletech made three official complaints to the SEC that it was being manipulated by illegal Naked Short Selling. The second of those complaints resulted in a meeting with Enforcement Division attorney Justin Arnold at the SEC’s Miami office where Eagletech’s attorneys gave him a three inch binder of evidence showing the manipulation of 200 companies. The third complaint was made by U.S. Congressman Peter Deutsch on behalf of the Company. From the SEC, even being a U.S. Congressman doesn’t get you the courtesy of a response.
13 In January 2004 FBI agents came knocking explaining that a New Jersey labor racketeering investigation turned up manipulation of Eagletech by its first Investment Banker Bryn Mawr Investment who had contracted Colombo family mobster Frank Persico’s Staten Island brokerage firm to sell Eagletech shares. Eagletech’s civil suit had been successful in procuring trading records from Bryn Mawr subsidiary brokerage firm Lloyds Bahamas Securities where the FBI had no jurisdiction. Eagletech’s attorneys freely shared the records with the FBI. Immediately the FBI brought in the SEC, and Enforcement Division attorney Justin Arnold into its now joint investigation.
14 In June of 2004 the SEC announced proposed Regulation SHO to take effect six months later in January 2005. A threshold list of company’s failing 3 day delivery would be established. Non Reporting issues would not appear on the threshold list (Pink Sheet stocks), not a mention of Grandfathering. In July 2004 the SEC announced to the media that they were “preemptively targeting shell companies ripe for manipulation for de-registration” (1300 now Pink Sheet companies almost all manipulated by illegal Naked Short Selling from the OTCBB or NASDAQ). How convenient, the most abused companies in history exempted from the new rule purported to stop such abuse, not because of the lack of transparency cited but because it sweeps the SEC’s culpability in using their own words “delivery failures greater than a company’s total public float” under the rug forever!
15 In an August of 2004 luncheon meeting with a potential witness in Eagletech’s civil case a member of the CIA showed up un-announced to me wanting details of the involvement of Jonathan Curshen and his Costa Rican Offshore asset protection company Red Sea Management in the demise of Eagletech. I was encouraged to write a criminal referral to the U.S. Secret Service who is charged with investigating counterfeiting of corporate securities under 18-USC-514. I authored 15 pages with 100 pages of evidence implicating the SEC and the DTCC as accessories to the crime. That referral was hand delivered to the Secret Service in Washington DC as a courtesy by the agent.
16 The NBC Dateline Debacle. Does anyone doubt the power of the wealthiest entity on earth the DTCC, the real owner of most all of the shares of every company in America, and held for your benefit. OK when they are benevolent, but what about when they manipulate the media, and threaten their detractors. The public doesn’t know it but at least half of the B-roll footage of me was shot after the cancellation of the April 10th scheduled airing. The story you saw on July 31st wasn’t the story ready for broadcast on April 10th. Producer Sharon Hoffman who should have resigned in protest was rewarded with a promotion to senior producer at NBC News a week later. Between 2:48 PM on July 6, 2005 and 7:22 PM on July 31, 2005 I received 11 threatening phone calls, the final one just about five minutes after the conclusion of the Dateline broadcast. You can be sure it wasn’t GE’s attorneys doing due diligence on the story.
17 Grandfathering! The SEC didn’t have the courage to make it a part of regulation SHO. Even they know how much it smells! They leaked it to the press in late December 2004 to an uproar of detractors, many of them still calling for a Constitutional test of their authority to suspend the settlement portion of their Congressional mandate to oversee the maintenance of an efficient clearing and settlement system. To the SEC and the DTCC efficient means de-materialization. De-materialization without transparency (access to short sale data) would be the final step in the perfect crime. I don’t know who to quote, reportedly somebody at NASAA said “Over my Dead Body.” Boo-Yaa!
18 Which brings us back to the subject of this appeal before the Commission; every shareholder of any Company in America who purchased shares and can not get delivery has a cause of action against the SEC as an agency of the U.S. Federal Government for violation of their 5th Amendment Constitutional property rights. An action brought as a Constitutional Tort under the ‘Federal Tort Claims Act’ in multiple Federal District Courts across the country is governed by the State eminent domain law where the shareholder’s property was taken (your home state). There is a multitude of case law in every state in the Union covering illegal inverse taking of property by Governments and their agencies. The governments successful defense using the discretionary exemption from Tort Claims in most cases since the 1947 case ‘Elizabeth Dalehite, et al. v. United States’ does not apply here. The SEC does not have discretion to suspend the settlement process (Grandfathering), even temporarily as they claim. The bottom line is they are vulnerable here. An agency with a strained budget, 1,500 mostly inexperienced attorneys, that brings 500 new enforcement actions per year would crack under the burden of 50 or 100 or 500 Constitutional Tort cases brought against it. The real benefit of such cases would be court ordered discovery of the short selling data that the SEC routinely denies shareholders, issuers and the media, under FOIA (Freedom of Information Act). The first survival of a motion to dismiss could alter the landscape.
In a perfect world: the Sec’s auditorium on February 13th would be filled with a silent lynch mob of aggrieved shareholders (CMKX shareholders welcome), the 13 State Securities Regulators who I would introduce as dignitaries one by one to the Commissioners, CEO’s of other victim companies, the media, congressional staff assistants, and our rock star advocates Byrne, Burell, Patch, Obrien (with or without the rabbit suit), Faulk, DeWayne, and Ferrara. My apologies if I missed somebody. My well rehearsed presentation would have had input from attorneys, State Regulators, and others and would have been released to the media ahead of time. I would have paper hand outs and a CD’s of evidence documents for media and congressional staffers to take away with them. The 13 State NASAA Consortium would be holding a press conference at a nearby hotel at Noon that day announcing their Joint Initiative and possibly the filing of a few cases against the miscreants in a few states. Finally the SEC would admit they are outgunned beg the Senate Banking Committee for help, we get our hearings, new clearing and settlement and Hedge Fund legislation, and a workout plan to settle the trades once and for all.
In the real world: I’ll take what I can get and I’ll soldier on! I encourage and welcome your comments and your help. This is our fight! The future for our children may depend on what we do here today!
Sincerely,
Rodney E. (Rod) Young
Eagletech Communications, Inc.
Ref: http://cmkxunitedforum.proboards70.com/index.cgi?board=general&action=display&thread=1137773...
I agree the fax part makes no sense to me either other than keeping shareholders distracted longer.
An S-8 is a registration statement not an exemption. It differs from other registrations in that upon filing the stock is immediately free-trading w/o prior review by the SEC.
As far as I can tell, Urbie used the two-year trick instead. People were issued stock for services they supposedly performed two or more years earlier. In this type of scenario, the stock can be deemed free-trading w/ an attorney's opinion letter. I'm not saying the services were real just that he used a different trick.
Okay, thanks. So, why isn't this considered a dividend?
Of course, being that this is a "distribution" and not a "dividend" are there really any rules that must be followed, or is the company allowed to act upon their whim?
Please explain the difference between a distribution and a dividend.
I don't see any S-8's filed after May 2003. As far as I can tell, the majority of stock was issued for past services rendered and two forward splits were applied to them. Since these services supposedly occurred two years prior, the stock was deemed free-trading. This is different than S-8 registered stock.
Who's been claiming to be Maheu's grandson?
accadacca. Actually, I think many were led to believe acca was Maheu's grandson or another relative because of his vague responses to their questions. This occurred not just on this issue but on practically everything.
Example:
mullet: "Are you related to Maheu?"
acca: "Hmmm, could you be more specific."
mullet: "Are you one of Maheu's close relatives?"
acca: "Sounds intriguing"
mullet: "Are you Maheu's grandson?"
acca: "No comment. Next question."
They have a good teacher. lol
A deposition transcript is not a public document unless it's filed with the court as part of some official proceeding. I'm not sure, but you might be able to get a copy by filing an FOIA. The feds won't even entertain such a request while they have an active case going on.
Further, Maheu categorically denies that he has a grandson involved with CMKM, and stated that "anyone purporting to be my grandson and involved with CMKM is not legitimate."
Hmmm, bet he means accadacca. lol
Hydra expects to place beta units with customers shortly after the demonstrations.
Does ARSC plan to give free beta units to attendees? DoD and big companies usually take quite awhile to make procurement decisions. I doubt any will do more than a very small token purchase based on one demo plus the unit is only a beta.
At least their report was more professional looking than what Willy slaps together. lol
The TA's site shows this as Pacel's POC info:
Issuer Name Pacel Corp
Address 7621 Little Ave
Suite 101
Charlotte, NC 28226
Phone 704-643-0676
Fax 704-552-7946
Web Site www.pacel.com
Symbol PCCR
Email ir@pacel.com
The company's website though is currently down: http://www.pacel.com/ . So, you may have problems sending them an email. If it's not online in a day or so and you don't want to call long-distance, I recommend signing up for an account on the TA's site here: http://www.transferonline.com/index.cfm?ssl=0&pathid=4&action=default . You can then use the TA's contact form and ask whether they have additional info for you to reach the company.
It's in the disclaimer at the bottom of the profile: http://www.wallstreetresearch.org/reports/etgmf.htm
Thanks for the laugh tavy. :o) /eom/
Too funny. lol /eom/
Not surprised. He rippped off the idea from Alex Tew, the original creator.
http://news.bbc.co.uk/1/hi/magazine/4585026.stm
Here's some reading for you playstk:
http://pink-sheets.blogspot.com/2005/12/look-at-sherb-company-auditors.html
Yup. Who knows if those holding majority control actually voted. Hearing documents seem to show the stock was spread out among a number of people/entities before the r/m. Perhaps they used the preferred share to help consolidate voting power?
The chances of that happening are pretty small. Most penny players don't have the money and/or interest to pursue a lawsuit which can drag on for years.