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better buy shares in FONG PIZZA!
http://fongspizza.com/
NO FONG LUCK INDED
play fong or be fonged.. time to get..out..until..have..bid!
until end of year.. FONG will dump 4+billions..shares!
close at 0.0010 lolzzzzzzz NO BID SOON
i told you.. this is a FONG..POS..fraud..scam
without news soon = cheapies soon! AFPW;)
i talket with mr fong at some moments ago and he told me no have news to announce this or next week.. maybe midle/end july only...AFPW
no buy here or RIPOFF! NO BID SOON
this is a pos fraud! PUMP AND DUMP
fluff news to dump billions! no fong luck inded
NEXT REVERSE SPLIT! YES! PENNYES BUT WITH BIG RS!
FONG'S SEC SUSPENSION: 2012
Here ya GO WITH Fong's name CLICK the OTCMARKET'S link.
HERE'S Fong's SEC Suspension.
FONG'S SEC SUSPENSION:
SGLN SEC Suspension:
http://www.sec.gov/litigation/suspensions/2012/34-67868.pdf
Order
http://www.sec.gov/litigation/suspensions/2012/34-67868-o.pdf
Company Directors
Henry Fong
Thomas G. Toland
http://www.otcmarkets.com/stock/SGLN/company-info
A Small history of the FFFC Conmen.
Henry Fong, the CEO, and Barry Hollander, the President, have been involved in several reverse merger transactions as officers and directors.
California Pro Sports, reverse merger with Imaginon
Equitex, Inc. , a shell company, bought Chex Systems, which spun off and became FastFunds Financial Corporation. Equitex then closed a reverse merger with Hydrogen Power, Inc. and is now known under that name. HPI intended to exploit patents related to hydrogen power but went into receivership in 2008.
Fastfunds sold all substantially all its assets in 2006 and is now a shell company. Messrs. Fong and Hollander continue to be the CEO and CFO, respectively.
Brought out to be the latest FRAUD and share selling scam.
Alumnifuel Power Corporation appears to be the successor to HPI, through a reverse merger which occured in 2009. Mr. Hollander has no affiliation with this company.
All of these transactions and the history of China Nuvo indicate that the issuer was in fact a shell company as of September 1, 2011 and that the shares being issued as "free trading" by the issuer are not entitled to the Rule 144 safe harbor.
--------
Scammer CEO Fong gets $308,000 in FFFC Stock. LOLzzzzzzzzz
During the year ended December 31, 2012, the Company entered into various agreements with certain of its non-affiliated creditors to convert various outstanding loans into restricted shares of the Company. The total amount converted was $235,725 and the Company issued 35,465,946 shares of common stock, at an average price of approximately $0.0066 per share.
On May 25, 2012 the Company issued 15,000,000 shares of restricted common stock in satisfaction of $367,500 of accrued and unpaid fees to Barry Hollander, the Company’s Acting President. The shares were issued at $0.02 per share. Mr. Hollander agreed to forgive the remaining $67,500.
On May 25, 2012, the Company issued 15,000,000 shares of restricted common stock in satisfaction of $308,549, comprised of accrued and unpaid fees owed to Mr. Henry Fong, a Director of the Company, legal fee reimbursement and accrued and unpaid interest on loans from Mr. Fong. The shares were issued at $0.02 per share. Mr. Fong agreed to forgive the remaining $8,549.
On May 25, 2012, pursuant to the Agreement in Note 1 above, the Company issued 90,000,000 shares of restricted common stock to Carbon Capture Corporation (“CCC”) in exchange for 100% of the common stock of their wholly owned subsidiary, Advanced Technology Development, Inc.
On May 25, 2012 the Company issued 1,410,255 shares of common stock to Asher upon the conversion of $5,500 of the 2011 Note. The shares were issued at an average price of approximately $0.0039 per share.
On June 14, 2012 the Company issued 1,434,264 shares of common to stock to Asher upon the conversion of $12,000 of the 2011 Note. The shares were issued at an average price of approximately $0.0084 per share.
On June 27, 2012 the Company issued 507,246 shares of common stock to Asher upon the conversion of $7,000 of the 2011 Note. The shares were issued at an average price of approximately $0.0138 per share.
In June 2012, the Company issued 3,200,000 shares of common stock pursuant to the exercise of warrants to purchase 3,200,000 shares of common stock. The exercise price of the warrants was $0.01 and the Company received $32,000.
On July 9, 2012 the Company issued 142,857 shares of common stock to Asher upon the conversion of the remaining balance of $500 of the 2011 Note and accrued and unpaid interest of $1,000. The shares were issued at an average price of approximately $0.0105 per share.
On October 9, 2012 the Company issued 35,714 shares of restricted common stock to Carebourn in consideration of fees related to the issuance of the Company’s $5,000 convertible note to Carebourn. The shares were valued at $0.014 per share and the Company recorded interest expense of $500 for the year ended December 31, 2012.
In October and December 2012, the Company issued 819,000 shares of Series A Preferred stock and 297,667 shares of Series B Preferred stock to CCC in exchange for their cancellation of 67,000,000 shares of common stock.
On December 10, 2012 the Company issued 6,111,111 shares of common to stock to Asher upon the conversion of $11,000 of the June 2012 Note. The shares were issued at an average price of approximately $0.0018 per share.
We offered and sold the securities in reliance on an exemption from federal registration under Section 4(2) of the Securities Act of 1933 and Rule 506 promulgated thereunder. We relied on this exemption and rule based on the fact that there were a limited number of investors, all of whom were accredited investors and (i) either alone or through a purchaser representative, had knowledge and experience in financial and business matters such that each was capable of evaluating the risks of the investment, and (ii) we had obtained subscription agreements from such investors indicating that they were purchasing for investment purposes only. The securities were not registered under the Securities Act and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. The disclosure contained herein does not constitute an offer to sell or a solicitation of an offer to buy any securities of the Company, and is made only as permitted by Rule 135c under the Securities Act.
The Fong Dilution Method. FFFC is Next.
Lets look at the companies Henry Fong has run and you will see a pattern. A pattern that SNVP will be repeating.!
China Nuvo Solar Energy, the predecessor to Surgline: Had no sales for years, only expenses. Raised almost $2 million. But China Nuvo bought technology, none of which it ever was able to exploit. Acquiring technology makes for great press releases, which China Nuvo was able to exploit, trading as high as $.16 a share—100 times the current price. And back then, 2006 to 2011, solar energy was “hot.” Now there has been a shakeout in the industry, profits are falling, it was time to exit the solar energy field and enter what Fong thought was the new “hot” field. To whom did China Nuvo sell its securities? From the July 2010 10k: On September 24, 2009, the Company issued 16,666,667 shares of its common stock upon the conversion of $65,000 of convertible debentures to non affiliated third parties. The shares were converted at $.0039 per share. On February 9, 2010, the Company issued 18,000,000 shares of its common stock upon the conversion of $54,000 of convertible debentures to non affiliated third parties. The shares were converted at $.003 per share. On April 1, 2010 the Company issued 55,940,455 shares of its common stock upon the two year mandatory conversion of the Company’s preferred stock of $123,069 (the “Stated Value”). Per the terms of the Certificate of Designation, the preferred stock converted at the result of the Stated Value multiplied by 120%, divided by the average of the closing price for the twenty (20) days prior to the conversion multiplied by seventy five percent (75%). This conversion represents only a portion of the preferred stock outstanding. The remaining amount of preferred stock outstanding at July 31, 2010 is $314,172 and the holders of those shares and the Company have agreed to extend the mandatory conversion period for one additional year to July 27, 2011.
In the 2009 10-K:
On May 4, 2009, the Company issued 6,357,666 shares of its common stock upon the conversion of $17,500 of convertible debentures and $1,573 of accrued interest to non-affiliated third parties. The shares were converted at $0.003 per share. On June 5, 2009 the Company issued 7,092,195 shares of its common stock upon the conversion of $25,000 of convertible debentures to non-affiliated third parties. The shares were converted at $0.003525 per share. On July 27, 2009 the Company issued 21,697,324 shares of its common stock upon the two year mandatory conversion of the Company’s preferred stock of $98,650 (the “Stated Value”). Per the terms of the Certificate of Designation, the preferred stock converted at the result of the Stated Value multiplied by 120%, divided by the average of the closing price for the twenty (20) days prior to the conversion multiplied by seventy five percent (75%). This conversion represents only a portion of the preferred stock outstanding. The remaining amount of preferred stock outstanding at July 31, 2009 is $437,241 and the holders of those shares and the Company have agreed to extend the mandatory conversion period for one additional year to July 27, 2010. On July 30 and 31, 2009, the Company issued in the aggregate 10,424,089 shares of its common stock upon the conversion of $42,500 of convertible debentures and $2,063 of accrued interest to non-affiliated third parties. The shares were converted at $0.004275 per share.
More ASHER Toxic Financing:
During 2012, the Company issued three convertible notes aggregating $105,000 to Asher Enterprises, Inc. (“Asher” and “2012 Asher Notes”). Among other terms the 2012 Asher Notes are due nine months from their issuance date, bear interest at 8% per annum, are payable in cash or shares at the Conversion Price as defined herewith, and are convertible at a conversion price (the “Conversion Price”) for each share of common stock equal to 50% of the average of the lowest three trading prices (as defined in the note agreements) per share of the Company’s common stock for the ten trading days immediately preceding the date of conversion. Upon the occurrence of an event of default, as defined in the Note, the Company is required to pay interest at 22% per annum and the holders may at their option declare the 2012 Notes, together with accrued and unpaid interest, to be immediately due and payable. In addition, the 2012 Notes provides for adjustments for dividends payable other than is shares of common stock, for reclassification, exchange or substitution of the common stock for another security or securities of the Company or pursuant to a reorganization, merger, consolidation, or sale of assets, where there is a change in control of the Company. During the nine months ended September 30, 2013, the holder of the Asher Notes converted an aggregate of $102,100 of principal and $2,900 of accrued and unpaid interest into 94,878,103 shares of common stock. The Company was previously in default of the Asher Notes as the Company did not maintain sufficient authorized shares reserved for issuance under the 2012 Asher Notes. The Company has received a default and demand notice for 200% of the remaining outstanding principal due, and accordingly, during the quarter ended September 30, 2013, the Company has increased the debentures payable to Asher by $40,900. As of September 30, 2013, the outstanding balance of the 2012 Asher Notes is $32,800, which is past due.
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=9622323
------------------------------------------------------
CEO Fong's OTHER SEC Suspended fraud is on the GREYS forever. Beware of this CRIMINAL
EVEN MORE Toxic Financing Continental:
On October 17, 2012, the Company issued a $25,000 convertible promissory note to Continental Equities, LLC (“Continental”). The Continental note is due on October 17, 2013, bears interest at 10% per annum. The conversion feature of the Continental note equals 50% of the average of the three lowest closing bid prices during the thirty day trading period prior to the conversion. The Company reserved 23,000,000 shares of common stock for the conversion of the Continental note. On March 26, 2013, Carebourn acquired the Continental note from Continental. During the nine months ended September 30, 2013, the Company issued 18,737,288 shares of common stock to Carebourn Partners, LLC. (“Carebourn Partners”) and Carebourn Partners’ assignee upon the conversion of the acquired Continental note.
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=9622323
Fong's FIRST Troubles with the SEC
IN THE MATTER OF HENRY FONG
The Securities and Exchange Commission announced that it has accepted an offer of settlement submitted by Henry Fong (Fong), the chief executive officer of Equitex,Inc., a Denver business development company. Pursuant to the offer, Mr. Fong will consent to the entry of an administrative order by the Commission and the Commission will dismiss claims made against Mr. Fong and related parties in SEC v. Power Securities Corp.
The administrative order, instituted pursuant to section 9(f)of the Investment Company Act, requires that Mr.Fong cease and desist from committing or causing any violations of Sections 57 (a) (1) and(4) of the Investment Company Act and Rule 17d-1 promulgated thereunder; obtain written advice concerning the legality of certain future purchases or sales of securities by himself and Equitex; and disgorge $73,775 plus interest in regard to sales of Star Publications, Inc. securities during 1988. Mr. Fong neither admitted nor denied the Commission's findings that certain purchases and sales of Star Publications securities violated sections 57(a)(1) and (4) of the Investment Company Act and Rule 17d-1 romulgated thereunder. [SEC v. Power ecurities Corp., et al., civ. No. 90-1579, D.Colo.] (LR-14199)
http://www.sec.gov/news/digest/1994/dig082694.pdf
Fong's 1990 SEC Troubles and Miami Herald Exposure:
Equitex’s chairman and chief executive, Henry Fong, was investigated by the Securities and Exchange Commission in 1990.
“Fong, a Jupiter [Florida] resident and philanthropist, knows his way around money. As people rushed in to buy Equitex shares, Fong cashed out selling more than a third of his 1.6 million shares
as the stock peaked.
Back to the philanthropist Fong – the one who sold
one-third of his stock in Equitex to investors
clamoring to get on the Internet bank band wagon.
The Miami Herald wrote, “According to a 1990
complaint filed by the SEC, Fong took part in an
$8 million stock manipulation scheme involving
newly minted shares of Star Publications. The
story made the rounds as business journals drove
home the problem of penny stock fraud. But the
SEC case against Fong went nowhere, and it was
dropped when Fong agreed to return $73,775 in
profits.
In 1999, Duffy wasn’t concerned about Fong’s
past, telling the Miami Herald, “I’m the one who
put the deal together and Henry Fong has been
true to his word. I have no problem with the guy. I
think he’s one of the most trustworthy guys in
South Florida.”
Duffy forgot all about that statement two years
later when he was fired, locked out of his offices,
and removed as chairman in November 2001.
Outraged at his treatment, Duffy sued the bank and
received a judicial order on February 8, 2002,
putting him back in charge and barring the new
board from running the bank.
FONG HAD HIS FIRST SEC SUSPENSION September 2012.
SEC Suspended Henry Fong the ONLY employee in this SHARE SELLING SCAM.
The Company currently has no full-time employees.
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=9921620
------------------------------------------
Company FILINGS Show PAST DUE Toxic Financing.
-----------------------------------------------
BEWARE 12 BILLION SHARE Dilution here:
Fong's Fake COMPANIES going back 15 years. Dilution specialist.
SGLN suspended by the SEC.
March 1999 - VP Sports FONG COMPANY
2001 - iGames Entertainment. FONG COMPANY
2002 - FastFunds. FONG COMPANY
2002 - of Interactive Games, Inc. FONG COMPANY
2002 - of Torpedo Sports USA Inc. FONG COMPANY.
2002 - Enutrition, Inc. FONG COMPANY
May 2002 - SurgLine International, Inc (also known as China Nuvo Solar Energy, Inc), and serves as its Principal Accounting Officer and Treasurer. FONG COMPANY Suspended by the SEC.
January 2004 - Interactive Entertainment Group, Inc. FONG COMPANY
January 2, 2007 - FastFunds Financial Corp. FONG COMPANY.
June 2009 - CFO for ZenZuu USA, Inc. FONG COMPANY
AFPW
July 28, 2009 - Mint Capital, Inc.
--------------------------------------------------------------
REPORT AFPW FONG SCAM NOW!! http://www.sec.gov/complaint/select.shtml
FFFC: ALL FONG SCAMS below:
AFPW: FONG- PINK
FFFC: FONG- PINK
QUTR: FONG- STOP
GRAS: FONG- YIELD
SNVP: FONG- STOP
LOOK for MORE FONG SCAMS HERE:
http://www.otcmarkets.com/home
FONGED !
WHEN THIS COMPANY HAVE ANY GOOD PRODUCT OR POSSIBLE GOOD FUTURE SUCCESS.. THE COMPANY WILL OBVIOUSLY DO A BIG REVERSE SPLIT AND REDUCE CURRENT INVESTORS TO NOTHING.. (EXAMPLE 1:500 OR 1:1000) AND REDUSE O/S TO 1.5 ~ 2 MILLION SHARES!!
THIS IS HOW FONG OPERATES..
AND IN THE NEXT 20 DAYS BUSINESS TRADER WITH FFFCD TICKET... THE COMPANY WILL DUMP SOME NEW 30 ~ 40 MILLIONS SHARES AT PRICE 0.0010 OR MORE LOW ONLY TO FONG FRIENDS/ASSOCIATES AND FFFC INSIDERS...
PAST REVERSE SPLIT THE NEW SHAREHOLDERS (FONG FRIENDS AND INSIDERS) WILL ALL TOGETHER OWN 95% OF THE COMPANY..
CONCLUSION... WHEN THEY KNOW THIS COMPANY WILL HAVE GOOD PRODUCT OR GOOD FUTURE SUCESS OR ANY GOOD CONTRACT.. ALL CORRENT FFFC INVESTORS IN BEST SCENARIO WILL OWN ALL TOGETHER 5% OF THE COMPANY BECAUSE THE REVERSE SPLIT!
SHARES WILL UP A LOT.. BUT CORRENT FFFC SHAREHOLDERS WILL PROFFIT A FEW BUCKS ONLY BECAUSE THEY OWN ONLY A FEW SHARES BECAUSE REVERSE SPLIT...
AND FONG FRIENDS/ASSOCIATES AND FFFC INSIDERS.. THEY WILL PROFIT A FONG FURTUNE BECAUSE THEY CONTROL 95% OF THE COMPANY!!
FONG IS A OLD SCHOOL PROFESSIONAL SCAMER!
NO FONG FORTUNE TO FFFC SHAREHOLDERS!
COMAPNY HAVE NO FULL TIME EMPLOYEES!!! LOLzzzzzzzzzzzzzzzzzzz
FFFC NEED S.E.C. INVESTIGATION ASAP!
Watch out for these “Red Flags” when investing in Microcap Stock:
-Assets are Large but Revenues are Small
-Odd Items in the Footnotes of Financial Statements
-Unusual Auditing Issues
-Insiders Own Large Amounts of Stock
-http://www.sec.gov/spotlight/microcap-fraud.shtml
REPORT TO S.E.C.
http://www.sec.gov/enforce#.U6ArIPldW2E
REPORT TO F.B.I.
http://www.fbi.gov/stats-services/publications/securities-fraud
GREY MARKET BEST PLACE FOR SHARE SELLING SCAM INDEED!
REVOCATION FOR PUBLIC SAFETYS INDEEDS!
FFFC FONG GRANDMASTER OF PENNY-STOCK SCAM FULL EXPOSED!
Get FASTFUND Business License in Colorado:
Details
Name FastFunds Financial Corporation, Delinquent July 1, 2007
Status Delinquent Formation date 01/26/2006
ID number 20061038551 Form Foreign Corporation
Periodic report month January Jurisdiction Nevada
Term of duration Perpetual
Principal office street address 7315 E Peakview Ave, Centennial, CO 80111, United States
Principal office mailing address n/a
Registered Agent
Name Equitex, Inc.
Street address 7315 E Peakview Ave, Centennial, CO 80111, United States
Mailing address n/a
http://www.sos.state.co.us/biz/BusinessEntityDetail.do?quitButtonDestination=BusinessEntityResults&nameTyp=ENT&entityId2=20061038551&srchTyp=ENTITY&fileId=20061038551&masterFileId=20061038551
http://www.sos.state.co.us/biz/BusinessEntityHistory.do?quitButtonDestination=BusinessEntityDetail&pi1=1&nameTyp=ENT&entityId2=20061038551&srchTyp=ENTITY&masterFileId=20061038551
THEN CHANGE TO NEVADA LICENSE & ADD BILLIONS SHARES:
Business Entity Information
Status: Merge Dissolved File Date: 6/28/2004
Type: Domestic Corporation Entity Number: C17234-2004
Qualifying State: NV List of Officers Due: 7/31/2004
Managed By: Expiration Date:
NV Business ID: NV20041517199 Business License Exp:
http://nvsos.gov/sosentitysearch/CorpDetails.aspx?lx8nvq=cEbI8ui2cVdwkDh8gx3PNA%253d%253d&nt7=0
Business Entity Information
Status: Active File Date: 8/7/1985
Type: Domestic Corporation Entity Number: C5329-1985
Qualifying State: NV List of Officers Due: 8/31/2014
Managed By: Expiration Date:
NV Business ID: NV19851012982 Business License Exp: 8/31/2014
http://nvsos.gov/sosentitysearch/CorpDetails.aspx?lx8nvq=avQ%252bTjumXKzlcGHaMByt2Q%253d%253d&nt7=0
THEN OPEN SUBSIDIARY COLORADO:
Details
Name Cannabis Merchant Financial Solutions, Inc.
Status Good Standing Formation date 02/17/2014
ID number 20141102430 Form Corporation
Periodic report month February Jurisdiction Colorado
Term of duration Perpetual
Principal office street address 7315 E Peakview Ave, Centennial, CO 80111, United States
Principal office mailing address n/a
Registered Agent
Name Cannabis Angel, Inc.
Street address 7315 E Peakview Ave, Centennial, CO 80111, United States
Mailing address n/a
http://www.sos.state.co.us/biz/BusinessEntityDetail.do?quitButtonDestination=BusinessEntityResults&nameTyp=ENT&entityId2=20141102430&srchTyp=ENTITY&fileId=20141102430&masterFileId=20141102430
http://www.sos.state.co.us/biz/BusinessEntityHistory.do?quitButtonDestination=BusinessEntityDetail&pi1=1&nameTyp=ENT&entityId2=20141102430&srchTyp=ENTITY&masterFileId=20141102430
NOW CLAIM FFFC CANNABIS BS & BS NEWS!! DUMP WORTHLESS SHARES TO INNOCENT UNSUSPECTING PUBLIC INVESTORS!!!
ALL WILL BE RIPOFF
FFFC NO BID SOON! S.E.C. SUSPENSION NEXT
my order is 0.0001! MM can't joke more! AFPW
all times I slap the ask here.. past 1 or 2 minuts the MM down the ask 1 number..
only to joke with my slap
no fong luck inded
no cheapies to you! you you want buy slap the ask
2018 big run! AFPW
GRAS S.E.C. SUSPENSION SOONNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNN
FONGING FONGERS FINGERS WAITING FOR CHEAPIES HERE! AFPW
BUY IN CHEAPIES 0,0001 AND WAIT
IF HAVE SUCESS = FONG FOTUNE
IF NOT HAVE SUCESS = SELL AGAIN AT 0.0001 AND NO HAVE LOSES
AFPW
WHEN THIS COMPANY HAVE ANY GOOD PRODUCT OR POSSIBLE GOOD FUTURE SUCCESS.. THE COMPANY WILL OBVIOUSLY DO A BIG REVERSE SPLIT AND REDUCE CURRENT INVESTORS TO NOTHING.. (EXAMPLE 1:500 OR 1:1000)
THIS IS HOW FONG OPERATES..
AND IN THE NEXT 20 DAYS BUSINESS TRADER WITH AFPWD TICKET... THE COMPANY WILL DUMP SOME NEW MILLIONS SHARES 0.0010 OR MORE LOW ONLY TO FONG FRIENDS/ASSOCIATES AND AFPW INSIDERS...
PAST REVERSE SPLIT THE NEW SHAREHOLDERS (FONG FRIENDS AND INSIDERS) WILL ALL TOGETHER OWN 95% OF THE COMPANY..
CONCLUSION... WHEN THEY KNOW THIS COMPANY WILL HAVE GOOD PRODUCT OR GOOD FUTURE SUCESS OR ANY GOOD CONTRACT.. ALL CORRENT AFPW INVESTORS IN BEST SCENARIO WILL OWN ALL TOGETHER 5% OF THE COMPANY BECAUSE THE REVERSE SPLIT!
SHARES WILL UP A LOT.. BUT CORRENT AFPW SHAREHOLDERS WILL PROFFIT A FEW BUCKS ONLY BECAUSE THEY OWN ONLY A FEW SHARES BECAUSE REVERSE SPLIT...
AND FONG FRIENDS/ASSOCIATES AND AFPW INSIDERS.. THEY WILL PROFIT A FONG FURTUNE BECAUSE THEY CONTROL 95% OF THE COMPANY!!
FONG IS A OLD SCHOOL PROFESSIONAL SCAMER!
NO FONG FORTUNE TO AFPW SHAREHOLDERS!
Fong's FIRST Troubles with the SEC
IN THE MATTER OF HENRY FONG
The Securities and Exchange Commission announced that it has accepted an offer of settlement submitted by Henry Fong (Fong), the chief executive officer of Equitex,Inc., a Denver business development company. Pursuant to the offer, Mr. Fong will consent to the entry of an administrative order by the Commission and the Commission will dismiss claims made against Mr. Fong and related parties in SEC v. Power Securities Corp.
The administrative order, instituted pursuant to section 9(f)of the Investment Company Act, requires that Mr.Fong cease and desist from committing or causing any violations of Sections 57 (a) (1) and(4) of the Investment Company Act and Rule 17d-1 promulgated thereunder; obtain written advice concerning the legality of certain future purchases or sales of securities by himself and Equitex; and disgorge $73,775 plus interest in regard to sales of Star Publications, Inc. securities during 1988. Mr. Fong neither admitted nor denied the Commission's findings that certain purchases and sales of Star Publications securities violated sections 57(a)(1) and (4) of the Investment Company Act and Rule 17d-1 romulgated thereunder. [SEC v. Power ecurities Corp., et al., civ. No. 90-1579, D.Colo.] (LR-14199)
http://www.sec.gov/news/digest/1994/dig082694.pdf
---------------------------------------------------
EVEN MORE Toxic Financing Continental:
On October 17, 2012, the Company issued a $25,000 convertible promissory note to Continental Equities, LLC (“Continental”). The Continental note is due on October 17, 2013, bears interest at 10% per annum. The conversion feature of the Continental note equals 50% of the average of the three lowest closing bid prices during the thirty day trading period prior to the conversion. The Company reserved 23,000,000 shares of common stock for the conversion of the Continental note. On March 26, 2013, Carebourn acquired the Continental note from Continental. During the nine months ended September 30, 2013, the Company issued 18,737,288 shares of common stock to Carebourn Partners, LLC. (“Carebourn Partners”) and Carebourn Partners’ assignee upon the conversion of the acquired Continental note.
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=9622323
------------------------------------------------------
More ASHER Toxic Financing:
During 2012, the Company issued three convertible notes aggregating $105,000 to Asher Enterprises, Inc. (“Asher” and “2012 Asher Notes”). Among other terms the 2012 Asher Notes are due nine months from their issuance date, bear interest at 8% per annum, are payable in cash or shares at the Conversion Price as defined herewith, and are convertible at a conversion price (the “Conversion Price”) for each share of common stock equal to 50% of the average of the lowest three trading prices (as defined in the note agreements) per share of the Company’s common stock for the ten trading days immediately preceding the date of conversion. Upon the occurrence of an event of default, as defined in the Note, the Company is required to pay interest at 22% per annum and the holders may at their option declare the 2012 Notes, together with accrued and unpaid interest, to be immediately due and payable. In addition, the 2012 Notes provides for adjustments for dividends payable other than is shares of common stock, for reclassification, exchange or substitution of the common stock for another security or securities of the Company or pursuant to a reorganization, merger, consolidation, or sale of assets, where there is a change in control of the Company. During the nine months ended September 30, 2013, the holder of the Asher Notes converted an aggregate of $102,100 of principal and $2,900 of accrued and unpaid interest into 94,878,103 shares of common stock. The Company was previously in default of the Asher Notes as the Company did not maintain sufficient authorized shares reserved for issuance under the 2012 Asher Notes. The Company has received a default and demand notice for 200% of the remaining outstanding principal due, and accordingly, during the quarter ended September 30, 2013, the Company has increased the debentures payable to Asher by $40,900. As of September 30, 2013, the outstanding balance of the 2012 Asher Notes is $32,800, which is past due.
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=9622323
------------------------------------------------------
CEO Fong's OTHER SEC Suspended fraud is on the GREYS forever. Beware of this CRIMINAL
FONG'S SEC SUSPENSION: 2012
Here ya GO WITH Fong's name CLICK the OTCMARKET'S link.
HERE'S Fong's SEC Suspension.
FONG'S SEC SUSPENSION:
SGLN SEC Suspension:
http://www.sec.gov/litigation/suspensions/2012/34-67868.pdf
Order
http://www.sec.gov/litigation/suspensions/2012/34-67868-o.pdf
Company Directors
Henry Fong
Thomas G. Toland
http://www.otcmarkets.com/stock/SGLN/company-info
----------------------------------------------------
Fong's 1990 SEC Troubles and Miami Herald Exposure:
Equitex’s chairman and chief executive, Henry Fong, was investigated by the Securities and Exchange Commission in 1990.
“Fong, a Jupiter [Florida] resident and philanthropist, knows his way around money. As people rushed in to buy Equitex shares, Fong cashed out selling more than a third of his 1.6 million shares
as the stock peaked.
Back to the philanthropist Fong – the one who sold
one-third of his stock in Equitex to investors
clamoring to get on the Internet bank band wagon.
The Miami Herald wrote, “According to a 1990
complaint filed by the SEC, Fong took part in an
$8 million stock manipulation scheme involving
newly minted shares of Star Publications. The
story made the rounds as business journals drove
home the problem of penny stock fraud. But the
SEC case against Fong went nowhere, and it was
dropped when Fong agreed to return $73,775 in
profits.
In 1999, Duffy wasn’t concerned about Fong’s
past, telling the Miami Herald, “I’m the one who
put the deal together and Henry Fong has been
true to his word. I have no problem with the guy. I
think he’s one of the most trustworthy guys in
South Florida.”
Duffy forgot all about that statement two years
later when he was fired, locked out of his offices,
and removed as chairman in November 2001.
Outraged at his treatment, Duffy sued the bank and
received a judicial order on February 8, 2002,
putting him back in charge and barring the new
board from running the bank.
FONG HAD HIS FIRST SEC SUSPENSION September 2012.
GRAS:Meet your GRANDMASTER of PENNY-STOCK SCAM!
HENRY FONG IN PALM BITCH
!!
http://www.palmbeachtoday.net/Fong.html
FONG DILUTES ALL of his Stocks with PHONY PR's & keeps your "HOPES" for that "LAUNCH" of PPS! FONG is Wealthy Thanks to YOU!
Are YOU FONGED & all FONGED UP?
No FONGING LUCK INDEED!
Fong's Fake COMPANIES going back 15 years. Dilution specialist.
SGLN suspended by the SEC.
March 1999 - VP Sports FONG COMPANY
2001 - iGames Entertainment. FONG COMPANY
2002 - FastFunds. FONG COMPANY
2002 - of Interactive Games, Inc. FONG COMPANY
2002 - of Torpedo Sports USA Inc. FONG COMPANY.
2002 - Enutrition, Inc. FONG COMPANY
May 2002 - SurgLine International, Inc (also known as China Nuvo Solar Energy, Inc), and serves as its Principal Accounting Officer and Treasurer. FONG COMPANY Suspended by the SEC.
January 2004 - Interactive Entertainment Group, Inc. FONG COMPANY
January 2, 2007 - FastFunds Financial Corp. FONG COMPANY.
June 2009 - CFO for ZenZuu USA, Inc. FONG COMPANY
AFPW
July 28, 2009 - Mint Capital, Inc.
AFPW: ALL FONG SCAMS below:
AFPW: FONG- PINK
FFFC: FONG- PINK
QUTR: FONG- STOP
GRAS: FONG- YIELD
SNVP: FONG- STOP
LOOK for MORE FONG SCAMS HERE:
http://www.otcmarkets.com/home
FONGED !