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I have .0014 x .002
This hole only gets deeper and deeper and deeper. Come 9/16, I can't even imagine this going over well at the BK hearings. Sooner or later, the court system has to say enough is enough. Not only is QMNM scamming the stockholders, this is going to cost the rest of us tax money, too. This is such a crock. If there aren't laws to prevent this, there should be. Like that expert small cap attorney said, the shareholders should start thinking about getting a lawsuit together if they haven't already.
I see that. All those shares that are being dumped are not being accounted for here in the deposits. So, again.....
Where's the money going? Is there any way we can find the "other deposit sheets"?
That spread, .0013 x .002 is the MMs way to discourage any buying. Why? Because they don't want to let go of any shares at this time. This is going to rock!
Hans,
I have idea no information Jack you post tell them is good.
Actually, you made this more confusing than before. But, that's par for the course. How about providing us with some proof of the work that is being performed. Now that would be a good thing for all of us to see.
Not only held, the ask popped to .015
Something is definiately up. The last 45 minutes were 14M buys, 1/2M sells
I'm just as interested as you. All I know is that shares went somewhere. Is it possible the MMs are holding them? Doubtful. Maybe BofA had a hand in it.
Agreed. The shares had to be gobbled up. Also, as I keep saying, and will say here again, BofA just doesn't shell out $9M to a .07 stock. They did here and that pretty much says it all.
Put it this way, you can put a few bucks into a bank and get what?.... 3 or 4% in a CD if you are lucky? Or, you can buy LCCI and let it sit. By February, if not sooner, the company is going to make a big effort to push this over $1. Now that alone is about a 1400% return.
Yup. Especially when Eugene opens the purse strings to authorize another $1/4M for spamming. I did a search not long ago on QMNM and penny newsletters and there seemed to be literally dozens that were flooding the internet all at the same time right at the time that run to .07 occurred. It wasn't because the company was fully operational and pulling some big production numbers. Pure and simple, it was an all out blitz contrived by Eugene. Why? You guessed it... so the share dumpers could maximize their take on the bag holders. If it wasn't obvious then, it sure is now because the initial production ramp up has been a total disaster. I'm sure everyone involved had to have known that there was not going to be any real production going on. Why else the total pump job? Let me say it this way.... if this all were legit, then why the need for a massive p&d job, Eugene?
He already has. The 10Q states there is a 5:1 convertible rate at which people will be able to sell at any time. So, the fact is, Eugene already gave the go ahead for billions of more shares to come into play. And now that we are past 9/5, the dumpage will come at any time and any place. If I held the convertibles, I'd wait for a really meaty PR to come out along with another $1/4M e-mail spam blast and sell them into the buying spree and all the way down after the peak. And, it wouldn't hurt to have a few key posters keep up the chatter about more to come and having seen the mines and all is happy and cheery down in Eugene-Land.
Sell the mines? Are you kidding? Eugene would never go for that. The mine is his front for dumping shares, dude. Get it?
Call Eugene and ask him exactly that. Hey, Eugene, are you making any money from the coal? What do you expect the production numbers to be for the week? Any company buying the coal? How much are they buying? What is the name of the trucking company? How often do the trucks come and what is their load capacity? What time of day do the miners start work? What are you doing about them not having a toilet? Is the coal being washed? How is the profit margin Quest is making on the coal? What are the profit projections for the remainder of the month? Why did you spend $250K on spamming Quest on dozens of penny market web sites and mass e-mailings? Why haven't you ever filed company taxes? What was it like in prison when you were convicted for stock fraud when dealing with those swiss accounts? How's Pollack doing down in Panama? Has the SEC found him yet? When's the R/S? How come you issued billions of convertibles after having performed 2 R/S the second half of last year? What does it mean "family shares" in the 10Q?
How's your $5k doing?
What? Debt repayment? What have you been reading? Those are "family" shares. Converibles. Blank notes to exchange for your pocketbook.
It's coming soon. This is for all the convertibles. We have talking about it for the past month and we all knew 9/5 was the date to watch. Well... lo and behold.... there she blows... here comes another 2B shares into the mix. Ohhhhh yeahhhh.... what a great CEO that Eugene is. There's shares coming out of dim deer coal mine. More shares than you can even imagine. And when those run out, then there will be more printed for you to watch float right on by like the piped piper leader you all away while Eugene plays his merry little tune and empties your pockets in front of your very own eyes. But, don't worry because Big Paul Bunyan has pictures. Ohhhh yeahhhhh...... and really good pictures. They are so good that they are making a video out of them. And then you'll get to even watch yourself getting hoodwinked but this time on video. Ohhhhh yeahhhhhhh.......
POUND THAT ASK!
Don't look now but the ask is getting pounded. Could it be our 10Q is coming out?
That's a riot. What did Eugene do, look at himself in the bathroom mirror and count his 1 vote with his 81% of the holdings and write the letter to himself on toilet paper?
There we go, people.... game on... come on R/S
He said that in his post, dude.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=32068671
Yes. Do you know that it doesn't mean they are having a hard time finding stock?
Where does it say they are having a hard time filing the trades?
This makes no sense at all. You are saying that this repair company is booked solid for the next 2 years and Quest got them to perform their much needed repairs the last two weeks at the drop of a dime? I can't wait to hear how they managed to pull those strings to make this happen... Something isn't right here, kojak
I think I know what you said.
Lawrence, please explain what that chart means?
This is how the NASD trades. Unless you check AON on your order, the stock will fill in block lots. This is normal and allows the order to be filled as the market see fit. You can't be seriously thinking people are buying and selling $7 worth of stock, can you? That's silly thought.
As for trading the whole float, I seriously doubt that, too. The sames shares can go back and forth many times and each trade factors into the volume. Most of the volume we have seen are shares coming back out of accounts triggered by stop loses as people liquidated at all cost in an outright panic. The fear of being delisted scarred a lot of traders off big time as that meant to them that $1/share isn't in the cards in the very near term for this. But, as we know, BofA has very deep pockets and they are very confident in putting down $9M that this will happen. Plus, the company volunteered getting the delisting which tells me they fully expect to reach this goal within the the time frame they were giving... being February. So, if you are willing to give this time, as I will, the .07+ stock you see today will return a minimum of 15 times our investment within the next 6 months. Now that's something you won't ever see your money do if you stuck it in the bank and left it alone all that time.
Looks like you'll see .0006 while you wait "so patiently". With no production for nearly a month and now another month away from maybe seeing a PR about having production numbers, that will put this at 2 months or more since announcing full production in a PR that turned out to be a big fat lie. What other lies will we read by then and what other fluffy PRs will they spend money on releasing to the public. The one I'm really looking forward to is when they announce the new toilet that they need to supply to clear up one of the violations. Just imagine..... Quest Announces Installing a New State of the Art Johnnie on the Spot.
It really wants to move up but they are keeping it back. You've got to believe that BofA just doesn't hand out $9M to a penny stock for it to not make them good money. If it were Mama&Dada Bank, maybe so. But BofA.... no way!
Well, with about a month before production numbers come out, I imagine Quest will drift towards the bottom of .0006
That is looking more and more like where this is heading. The question will be, will there be a R/S soon after that and what impact is this going to have on the BK proceedings or visa versa.
I don't think anyone is going to fall for any more of those fluffy PRs. The boys at QMNM are going to have to come out with some "real" meat and potatoes at this point. So, let's see what happens in early October. By then, any of us should be able to load up on millions for cheap (should the risk feel right).
Regardless, I'm still suspect on the dealings of Eugene and this company.
Shorts
You are going to love this. Quest is involved in a cemetary scam. This is way too funny to even make up.
http://money.cnn.com/2007/08/10/news/funeral_home.fortune/index.htm?postversion=2007081016
Stealing from the dead
How an oil and gas speculator and a Smith Barney exec allegedly teamed up to steal prepaid money from the recently deceased. Fortune's Roger Parloff reports.
By Roger Parloff, Fortune senior editor
August 13 2007: 9:59 AM EDT
NEW YORK (Fortune) -- In March 2006, the Tennessee board that regulates cemeteries got a five-page complaint, in neatly penned cursive longhand, from Geraldine Story, an elderly Memphis woman. Story's husband Ralph had died on January 22. In preparation for that day, he and she had each, more than thirty years earlier, purchased prepaid funeral services from the Forest Hill Funeral Home in Memphis, to make sure that each's burial expenses would not be a burden to the other or to their families.
Six hours before her husband's wake, however, Story learned that the casket would not look anything like the bronze one promised in the contract. Instead, it would be made of brown painted wood, with "a single latch on the lid that resembled a cheap tool box," as she wrote. If she wanted an upgrade, the least expensive alternative would run $3,995.00.
Clayton Smart is incarcerated at the Shelby County jail in Memphis awaiting trial.
How the KGB (and friends) took over Russia's economy
----------------------------------------------------
She bought that one, of course, but after the funeral she followed up and was eventually told by a candid funeral home staffer that the funds set aside to fulfill her contract had been "skimmed off the top several times," and now the home was stuck with more than 13,000 "pre-need" contracts just like hers with no way to pay them. "He said they had to operate the way they are doing," she wrote, "or go out of business in two months and we don't want that, do we?"
The then-unraveling scam that victimized Ms. Story turned out to be worse than that, even. The same folks who looted Forest Hills, according to Michigan authorities, were also looting trust funds from 28 cemeteries in that state (including the final resting places of Rosa Parks and Henry Ford).
Tennessee authorities estimate that the embezzlers dissipated $20 million from Forest Hill's trust funds, while Michigan authorities allege that they took up to $70 million from Michigan's - about 31 percent of that state's total cemetery trust funds.
The two most culpable parties, according to prosecutors and state-appointed receivers, are an odd couple: a 67-year-old oil and gas speculator from Okmulgee, Oklahoma and a 41-year-old senior vice president for Smith Barney Citigroup, who lives in 5-bedroom, 8,000 square-foot home in the tony Philadelphia suburb of New Hope.
Clayton Ray Smart, the speculator, is now incarcerated at the Shelby County jail in Memphis, awaiting trial on a felony indictment, handed down in April, for theft, conspiracy and money laundering. He's also awaiting extradition to Michigan, where he faces a 39-count felony complaint, issued two days after Tennessee's, for racketeering and embezzlement.
Mark Singer, who worked until February in the Newtown, Pennsylvania, field office of Smith Barney - now, formally, Citigroup Global Markets - is a co-defendant in the Tennessee case, though he's free on $1.25 million bond. (He is not charged criminally in Michigan, but is named in civil suits both there and in Tennessee.) Both men have pleaded not guilty.
Through the chief jailer, Smart declined to comment for this article. (Most of his assets have been frozen, he claims to have no cash and he is representing himself.) Singer did not respond to an email or to a voicemail left at his home, and his criminal defense lawyer, Zachary Fardon of Latham & Watkins's Chicago office, declined to discuss the charges against him, citing Tennessee rules restricting attorney comment on pending cases.
What follows is the story of what appears to have been a truly dastardly scam, as best the Tennessee and Michigan authorities have yet been able to piece it together. It's not for the squeamish.
Hatching a plan
---------------
In September 2003, Clayton Smart, known by some as "the Colonel," met with a Bloomfield, Michigan, attorney named Craig Bush to discuss acquiring the 28 Michigan cemeteries that Bush then owned. Some cemetery staffers remember Smart telling them that he thought he could make the cemetery trust funds "work better," according the Michigan indictment.
To gather money for the a down payment, Smart, with assistance from two associates, borrowed $5.4 million from a Houston lender in January 2004. About ten months later the lender sued Smart and his two associates for civil fraud in Texas, claiming that they were still owed $3.1 million and that the collateral they'd been given was fraudulent. The suit is still pending, but each of Smart's two business associates has subsequently been convicted of unrelated federal crimes and each is now serving a prison term. (One is doing 57 months for wire fraud and forgery in Florida, while the other is serving 78 months for defrauding a pension fund in Iowa.)
To assure Bush that he could afford to make good on the full price for the cemeteries - $35 million - Smart allegedly had yet another associate, Carter Green, send Bush a letter stating that Green was in the process of liquidating a $100 million Treasury note to help finance the purchase, according to the Michigan indictment. Bush soon discovered, however, that there is no such thing as a $100 million Treasury note, and that the letter was a deception.
Nevertheless, Bush continued negotiating with Smart, closing the sale on August 19, 2004, for $35 million, most of which was paid in notes. (Green was arrested Wednesday by the Michigan attorney general's office and charged with racketeering, forgery and being an accessory-after-the-fact in the cemetery embezzlement scheme; at press time he was jailed in Detroit.)
Formally, the buyer of the cemeteries was Indian Nation LLC, which managed the cemeteries through an entity called Mikocem, which meant "King of Cemeteries." (Miko means king in Chickasaw, one of the Indian tribes near Okmulgee.) Indian Nation was 95 percent owned by Smart and 5 percent owned by his lawyer, Stephen Smith. Smith has been charged as a co-defendant in the Tennessee indictment and has pleaded not guilty.
(In a telephone conversation from his home near Henryetta, Oklahoma, Smith says Smart didn't consult with him on what he did with the businesses, and that Smith's main role was setting up Smart's companies and performing other ministerial tasks. He says Smart gave him ownership interests in the businesses in lieu of attorneys fees.)
When the Michigan cemeteries changed hands, they had $61 million in trust funds associated with them. In Michigan, as in almost every other state, for-profit, perpetual-care cemeteries are required by law to maintain a variety of funds in trust to ensure that there will be sufficient money to care for the cemetery grounds in perpetuity. In those states that permit pre-needs burial contracts, cemeteries must also set aside large percentages of the contract purchase price to ensure delivery of all of the services and merchandise (caskets, markers, vaults) promised.
As soon as the deal closed, Smart had the trust funds transferred from a bank in Michigan to Singer's Smith Barney field office, according to a suit brought by Michigan cemetery commission Andrew Metcalf. In September alone, a Michigan state auditor found, Singer, at Smart's direction, disbursed about $12 million of cemetery trust funds to a Smith Barney account owned by Craig Bush, while another $10 million found its way to Bush in subsequent months.
The Michigan conservator alleges, in other words, that Smart was paying for the cemetery by looting the cemetery's own trust funds. (Bush has not been charged criminally. The Michigan conservator has sued him civilly, however, and has seized $22 million from his accounts. Bush's attorney did not respond to an email inquiry seeking comment.)
Ultimately, the Michigan auditor concluded, about 45 percent of the Michigan trust funds ($31 million) went to a corporation called Quest Minerals and Exploration that Smart controlled, though it was ostensibly owned by his wife's aunt. (Smart's stepdaughter was an officer and co-defendant, Smith was a director and corporate secretary.)
Another 54 percent of the trust moneys were placed into high-risk, illiquid hedge funds, which Michigan authorities say were obviously not appropriate "prudent" investments for cemetery trust funds. Of the latter, about $7 million went into a legitimate Cayman Island-based fund called The Topiary Trust, while another $25 million went to a outfit called Fondren Investments, a Nevada firm associated with Smart's associate Green, the documentation for which was characterized as "substandard" and "irregular" in court filings submitted by Michigan cemetery commissioner Andrew Metcalf.
Dirty money
-----------
Most of the money that went to Quest - whose oil and gas leases had a market value of only $106,000 - did not did not stay there, but was either forwarded to Bush (as partial payment for the cemeteries) or disbursed to other destinations. Because of the large number of partnerships and corporations that Smart controlled, the Michigan authorities aren't certain where all the money went, but they believe it likely that at least some of it was used to fund Smart's December 23, 2004, acquisition of the Forest Hill Funeral Home and Memorial Lawns in Memphis. Forest Hill controlled three cemeteries and funeral homes in Tennessee, as well as several cemeteries in Arkansas.
When Smart bought it, Forest Hill had about $29 million set aside in statutorily required trust funds. Most of Forest Hill's trust moneys - about $22 million - had been invested in insurance policies which guaranteed that when the purchaser of a prepaid burial contract died there would be sufficient money there to fulfill the contract. Smart quickly had all those policies cashed out. Since their surrender value was much lower than their face value, cashing out immediately depleted the trust value by $9 million.
The cash from the Tennessee trust funds was transferred to a wide variety of destinations, including companies associated with Smart's Michigan cemeteries, a custom horse-trailer company Smart ran, the sons of two of Smart's incarcerated former business associates, Smart's own son and several accounts controlled by Singer at Smith Barney.
About $2.5 million ultimately found its way to an account Singer had at Greenlight Capital, a hedge fund and private equity firm led by activist investor David Einhorn, while about $6.3 million were allegedly invested in Kinglier Capital, a partnership in which Singer and his wife were allegedly principals. (Greenlight is not suspected of any wrongdoing, according to an attorney at Tennessee conservator Max Shelton's office.)
Though required by law to make regular fresh deposits into trust funds, Smart failed to do so, each state claims. (Michigan says he owes more than $9 million in overdue deposits.) Smart was also failing to make the many regular financial filings required of participants in this heavily regulated industry.
Inside man
Knoxville man Jason Strader, 34, says in an interview that Smart hired him in September 2005 as part of the effort to get the cemeteries' financials in order - they hadn't been updated since March, he recalls - and he stayed there until February 2006. Strader says alarm bells began going off for him when, at some point, Smart instructed him to use cemetery funds to pay expenses relating to vehicles owned by Quest - the Oklahoma oil and gas exploration company.
Strader also says that while he was working for Smart he would often communicate several times a day with Singer, who was then trying to obtain loans from banks. Strader claims that Singer asked him to alter financial statements to make them appear more comforting to lenders. (Singer's attorney, Fardon, again declines comment, citing Tennessee's rules restricting attorney comment on pending cases.)
Strader left the company on February 10, taking his laptop with him, which held copies of hundreds of company documents and emails. According to Strader and his attorney, Charles Currier, they then together contacted the Tennessee attorney general's office and a federal IRS agent to report what they knew. The Tennessee authorities contacted the Michigan authorities, they say.
That same month, even as the rickety scheme seemed to be caving in from every direction, Tennessee authorities contend that Smart and Singer used trust funds to make a down payment on the purchase of a $3 million Raytheon Turbo Jet aircraft. The jet was being purchased in the name of an insurance company Smart wanted to set up offshore. Strader says Smart hoped to sell pre-needs burial insurance policies enabling him to control how the premiums would be invested.
By March 2006, however, the Tennessee and Michigan attorney generals had each initiated criminal investigations, and in late April the Detroit News broke that news publicly. Smart denied any embezzlement to newspapers, blaming the charges on a "disgruntled" former employee.
Nevertheless, on July 6, Smart had no choice but to convene a press conference to announce that Forest Hill could no longer honor its 13,465 prepaid policies, and that, from that point forward, those customers would have to pay a $4,000 "service" fee.
"Obviously things were a lot cheaper in 1965," Smart was quoted saying in The (Memphis) Commercial Appeal, "but inflation has struck, and we could not continue to stay in business if we honored those policies now."
The announcement was met with outrage, and the first of at least four civil class actions was filed against Smart and Forest Hill less than a week later.
The Michigan cemeteries were finally placed into receivership in December, and Tennessee's were seized by the Tennessee Department of Commerce and Insurance in January 2007.
Me, too. Watching.... Not sure what else we can do. The DD is pretty straight forward and easy to come by. The numbers speak for themself and the PPS is very undervalued. One thing for sure, it looks like we're at the bottom as .07 seems to have a lot of support. So, I guess we wait and see what happens the next couple of weeks.
Production numbers are going to be at least a month away. If they start production back up today, then we won't even have a full month to report come this time next month. I wouldn't expect any reports to come out that mention anything less than that. If they do, it will be a mistake. Just look how it bit them in the behind last time that happened. Boy.. what a mistake that was. Making everyone all excited and getting caught with their pants down. Talk about comic relief... Don't they test the equipment BEFORE going into full production?
You just have to hope the BK courts understand.
Anything at this point will be "impressive". Yawn....
Notice in the PR that is says last 10 days. Well, we already knew the mining was halted on 9/20 because the belt broke down.
I don't know what math class Everett took but, it seems to me that 10+10=20, doesn't it? That 3 weeks, 1 week short of an entire month.
Way to go, Eugene. You sent out another PR with an big fat lie.
Turned over a new leaf my a$$.
You know it. It's fluffy time. Load up, people. Take some more fluffy sauce home and put it in your sock drawer. See if it grows or turns into coal. It's yours for the taking. At least until the chinese come running to buy it off your hands for millions. Oh boy.... how grand that day will be. I'm so happy I can hardly contain myself. Eugene for President! Oh yeah, baby. There's no better feeling in the world! I love you, BPB! Will you marry me?
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=32016416
Yup. http://biz.yahoo.com/pz/080909/149959.html
Just an update. No meat. All fluff.
But, there is mention to possibly more PRs about output in a couple of weeks. Oh boy! Buy buy buy.... LOL
I guess it's back to the 1/2 life carbon decay.
Quest Makes Additional Improvements At Pond Creek
Tuesday September 9, 9:19 am ET
PATERSON, N.J., Sept. 9, 2008 (GLOBE NEWSWIRE) -- Quest Minerals & Mining Corp. (OTC BB:QMNM.OB - News) (Frankfurt:QMNB.F - News), a Kentucky-based operator of energy and mineral related properties, confirmed today that it has thoroughly overhauled the existing infrastructure and mining equipment at its pond creek mine location in order to gear up for major production.
Everett Hampton, President of Whitestar Mining, LLC, commented, ``For the past 10 days, we have refurbished and modified all of the key inner workings essential to our operations. Splitting the beltline to add another head drive; and replacing 1,200 feet of used conveyor belt that was more than ten years old was just one of the major improvements. We also added four feet to the belt feeder along with its own motor so that it will run independent of the beltline and therefore, cause fewer delays. Lastly, we focused on the machinery by installing new hydraulic jacks to the roof bolter and refurbishing the under carriage on our joy 14-10a miner to give it better output efficiency. Ultimately, we have taken every measure possible to ensure that we will not only produce high coal volume, but to have this mine in the shape needed to sustain consistent production levels.'
Eugene Chiaramonte, Jr., President of Quest, stated, ``We are very pleased with the performance of Whitestar. I have observed first hand their commitment and desire to make this mine a successful operation. I have no doubt that they will finish what they have started. The company should have some impressive tonnage reports to release within the next few weeks.'
For more information visit: http://www.outcasttrader.com or http://www.questmining.net.
About Quest Minerals & Mining
Quest Minerals & Mining Corp., or Quest, acquires and operates energy and mineral related properties in the southeastern part of the United States. Quest focuses its efforts on properties that produce quality compliance blend coal.
Forward-Looking Statements
This document contains discussion of items that may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Although Quest believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurances that its expectations will be achieved. Factors that could cause actual results to differ from expectations include, but are not limited to, lack of revenue producing operations, lack of working capital, debt obligations, judgments and lien claims against Quest and certain of its assets, difficulties in refinancing short term debt, difficulties identifying and acquiring complementary businesses, fluctuations in coal, oil & gas, and other energy prices, general economic conditions in markets in which Quest does business, extensive environmental and workplace regulation by federal and state agencies, other general risks related to its common stock, and other uncertainties and business issues that are detailed in its filings with the Securities and Exchange Commission.
Contact:
Outcast Communications
Investor Relations:
Keith Reinhardt
858-509-9900, ext. 13
--------------------------------------------------------------------------------
Source: Quest Minerals & Mining
I know what you are saying but you have to take a look at some very simple things that are big red flags to me. For example, if Eugene has turned a new leaf, then how come QMNM has never filed their taxes. Or how about the fact that the production PR was a big fat lie as the machines were broken down at the time of the release. I don't know about you, but for me, these are the little things that tell us a lot of what to expect going forward. Now, if these little things did not exist, then just maybe we could say Eugene is on the road to recovery.