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Spam received on JAMN this morning:
The Bull Report
May 13, 2011
{FIRST_NAME|Fellow Investor},
JAMN IS UP OVER 334% SINCE WE FEATURED IT ON MARCH 29TH..... CONGRATZ TRADERS
Jammin Java Corp., a development stage company, focuses on providing premium roasted coffee on a wholesale level to the service, hospitality, office coffee service, and big box store market in the United States. It intends to produce coffee on the leased farmland in the Blue Mountain region of Jamaica. The company was formerly known as Marley Coffee Inc. and changed its name to Jammin Java Corp. in July 2009. Jammin Java Corp. was founded in 2004 and is based in Beverly Hills, California.
Latest News:
Why Coffee Is Heating Up - Equity Research on Jammin Java and Starbucks Corporation Read the full release
Best Regards,
The Bull Report
P.S. Keep your eye on the market and watch for our new picks!
This report is for information purposes only, and is neither a solicitation or recommendation to b_u_y nor an offer to sell securities. TheBullReport is not a registered investment advisor. TheBullReport is not a broker-dealer. Information, opinions and analysis contained herein are based on sources believed to be reliable, but no representation, expressed or implied, is made as to its accuracy, completeness or correctness. The opinions contained herein reflect our current judgment and are subject to change without notice. TheBullReport accepts no li_ability for any losses arising from an investor's reliance on the use of this material. TheBullReport has not been compensated for coverage of JAMN. TheBullReport and its affiliates or officers currently hold no shares of JAMN. TheBullReport and its affiliates or officers will pur_chase and sell shares of common stock of JAMN, in the open market at any time without notice. TheBullReport will not update its purchases and sales of JAMN in any future postings on TheBullReport. Certain information included herein is forward-looking within the context of the Pri_vate Securities Litigation Reform Act of 1995, including, but not limited to, statements concerning manufacturing, marketing, growth, and expansion. The words "may", "would," "will," "expect," "estimate," "anticipate," "believe," "intend," " project," and similar expressions and variations thereof are intended to identify for ward-looking statements. Such forward- looking information involves important risks and uncertainties that could affect actual results and cause them to differ materially from expectations expressed herein. *TheBullReport does not set price targets on securities. Never invest into a stock discussed on this web site or in this email alert unless you can afford to lose your entire investment.
If you no longer wish to receive these emails, please reply to this message with "Unsubscribe" in the subject line or simply click on the following link: Unsubscribe
The Bull Report
4846 Rosemead #114
Dallas, Texas 75007 US
HONG KONG--(Marketwire - 05/13/11) - Today, www.WorldStreetFundamentals.com released its industry report highlighting Jammin Java Corp. (OTC.BB:JAMN - News) and Starbucks Corporation (NASDAQ:SBUX - News). Full fundamental and technical analysis is available at www.WorldStreetFundamentals.com/Reports.php.
The question has begun to dig into the forefront of investors' minds, "why is coffee becoming such a hot commodity?" Strong performance of coffee retailers is demonstrating more and more investors are finding the answer. Influences on both supply and demand are pressing coffee prices to all-time highs. General economic conditions are improving, disposable incomes are rising, and consumers are purchasing more coffee at premium prices.
The International Coffee Organization reported an increase of over 100 percent in coffee prices for the twelve month period extending from March 2010 through to 2011. Supply is also a factor to consider. While effects of the tropical storm Agatha in Central America are still being assessed, it is feared that intense humidity will cause an increase in coffee diseases and the rapid development of parasites, potentially straining supplies of coffee from Guatemala, Honduras and El Salvador.
World Street Fundamentals has highlighted Jammin Java for its focus on providing premium roasted coffee on a wholesale level to the service, hospitality, office coffee service and big box store industries. It is developing a share of the roasted coffee category and creating a leadership position by capitalizing on the success of the Marley Coffee name through its co-branding license relationship with the privately owned Marley Coffee company. The entire report on Jammin Java Corp. (OTC.BB:JAMN - News) is available here: www.WorldStreetFundamentals.com/ViewFullReport.245.php.
World Street has highlighted Starbucks Corporation for its position as the largest roaster and retailer of specialty coffee in the world, operating in more than 50 countries. Starbucks purchases and roasts whole bean coffees and sells them through Company-operated retail stores. The entire report on Starbucks Corporation (NASDAQ:SBUX - News) is available here: www.WorldStreetFundamentals.com/ViewFullReport.138.php.
About World Street
World Street Fundamentals is an online portal for professionals, investors and new-comers to the markets to find in depth comprehensive research and research tools to help guide you through the ever changing financial markets. Covering the top performers in the hottest sectors and providing clarity to investors around the world.
Contact:
Contact:Adam RedfordEmail Contact www.WorldStreetFundamentals.com
Help Wanted re "Straight Path Capital" re JAMN.
Here's what I don't get. If you search for "Straight Path Capital" at Yahoo (dogpile led me there), up comes a link to a linkedin page with 25 Raymond Hall's. Raymond Hall is a signatory for Straight Path. But I can't find any reference to Straight Path in the link to linkedin, or the cached page provided. How can that happen?
Would like to get an address or something on Straight Path. They are not listed in UK Companies registry despite signing as a UK company.
thanks all
delete
Straight Path Capital
Company is not listed in UK companies registry despite being declared a UK company in JAMN filings. No address is given in the filings and the only name is a Raymond Hall, VP of Straight Path.
As described below under “Item 8.01 Other Events”, Straight Path Capital, a United Kingdom company ("Straight Path") invested $120,000 in Jammin Java Corp. (the "Company") pursuant to the Agreement (defined below) in the months of January, February and March 2011, and is investing an additional $2,380,000 available under the Agreement in May 2011, in consideration for an aggregate of 6,250,000 shares of the Company’s restricted common stock ($0.40 per share).
On December 22, 2010, Jammin Java Corp. (the "Company") entered into a Share Issuance Agreement (the "Agreement") with Straight Path Capital, a United Kingdom company ("Straight Path"). Pursuant to the Agreement, the Company has the right to request Straight Path to purchase up to $2,500,000 of the Company's securities at a price per share of $0.40, until December 22, 2011, unless extended by either the Company or Straight Path for an additional twelve (12) months, and subject to the terms of the Agreement.
http://wck2.companieshouse.gov.uk/4815bb41fe32e3570f23f4ffc66c7d12/wcframe?name=accessCompanyInfo
http://www.faqs.org/patents/inv/87446
the Russian inventor who works at a mining company
Victor Nikolaevich Glotov
The way I see it, this post at Globe and Mail represents the crazy bias that people have:
"For anyone to suggest SELLING any stock weather its INT or Google is just BIASED and by the information posted David is obviously getting paid or will be from the house that shorts the stock.Whata ridiculous article to put in your paper.I will be letting many others know in the financial sector of your poor judgement.RETRACT IT !!!"
The guy says that to suggest selling any stock is biased. True enough, there is a bias, and there's an equal bias when suggesting buying any stock.
The sheer lack of logic and open-mindedness displayed by the INT longs is another great reason to avoid this stock like the plague. Stock is supported by a lunatic cult.
I tend to put more value in what the Globe and Mail says than what the company says. Frankly, I just don't believe the company. Maybe if there weren't 50 million shares ready to be sold on May 10th I would be less suspicious. So far though, I think they are just pumping before the dumping.
We've all seen it before hundreds of times. INT could be the exception, but odds are I am right.
The President of Gekko, William C. Robertson was the subject of a Citron article 10 years ago (yes we have been at this for a long time) while he was involved with Burrard Technologies. http://www.citronresearch.com/index.php/2001/11/19/stocklemoncom-reports-on-burrard-technologies-otb-btgs/
Robert Rosner was also a major investor in Burrard as evidenced by this SEC filing
The problem with jumping on is that you have to stay glued to your trading screen and be ready to sell at the first sign of weakness.
Or worst case, if SEC halts trading and the stock re-opens in 3 weeks at its fundamental value of $1.00 or whatever.
Extremely risky to trade this thing either way right now.
The point is to have some semblance of truth and honesty in the market place. We've both been around long enough to become completely cynical about that possibility, but some idealists remain.
What's the point of investigating crime - a murder, for example? Oh yes, to catch the perpetrator to prevent him and others from murdering again.
Fake trades.
It's clear to me that 95% of LEXG trading volume is faked. Buy in one account, sell in the other. Buy in the other, sell in the one.
Rinse, repeat.
Sorry about the missing link. It's from Janice's own article:
http://www.pinnacledigest.com/blog/edminnema/osc-says-agoracom-rigged-forum-discussions
Agoracom
INT has hired Agoracom for years. Seems more than possible that the thousands of Stockhouse posts, not to mention the ones here at iHUB, are Agoracom back to its old habits.
The OSC's allegations centre on the Agoracom website, and specifically address
management's administration of the discussion forums. According to the
statement of allegations, between Sept. 1, 2006, and July 31, 2009, Mr.
Tsiolis and Mr. Kondakos required their representatives, as part of
their daily responsibilities, to post anonymously to the client forums
using aliases. To post anonymously, the representatives created
fictitious usernames and posed as investors blending in with other
users, investors, and interested persons. Representatives had between
40-50 aliases (some had up to 200) and were required to make a requisite
number of posts per hub per day or risk having their pay docked, says
the OSC. On occasion, Agoracom staff conversed with themselves on the
forums using different aliases.
"So, over 100 million shares bought on Friday alone. SO, you're alright, the worlds all wrong, how's that working for you ?"
Exactly as many shares were sold as were bought. I've seen this statement made on Stockhouse today and it made me laugh. Every day, the same number of shares of any stock are sold as are bought.
By that logic, LEXG which traded 9 million shares on Friday must also be a highly valuable enterprise. It's financials are even worse than INT's, thoug.
I just can't wait to see how this story ends.
My backing is my years of experience with over-hyped stocks.
Much more likelihood of being a scam than of being a Facebook or a Yahoo. The whole scenario just defies credibility. Company sells 25% of itself at 15 cents a share in February, then suddenly discovers the secret to unlocking internet riches, making the stock worth $1, $3, $100, according to literally thousands of message board posts.
Perhaps the Red Sea really did part, but I say it's a scam and I will short the stock
Over the years I've found that the more insistent the boosters, the less successful the company will be. And the boosters certainly are insistent on this one.
If you are long, I advise you to sell. If you are just pumping, I advise you to _______, well, whatever.
Lucatch has been pumping various internet related ideas for several years. For some reason, the current iteration is really taking off. Mainly, it's the hard-to-believe growth in user statistics on the Ortsbo translation utility that are being PR'd weekly.
Maybe there's really something there. Maybe Ortsbo.com really is taking off like there's no tomorrow. Maybe it is another Facebook! We definitely should buy the stock. I'm tired of fighting crazed mobs.
Veiled threats of physical violence are happening on Stockhouse.
Forgot to post the stockhouse link:
http://www.stockhouse.com/Bullboards/SymbolList.aspx?s=INT&t=LIST
The iHub board has also been infected:
http://investorshub.advfn.com/boards/board.aspx?board_id=19384
ITMTF.pk INT.v Intertainment Media
Have you guys seen the craziness that is INT? The Stockhouse board acts like it's in Guyana. Their Facebook page is also nuts.
The stock has run up 1000% this year on what is basically a public domain translation utility. A Seeking Alpha piece by a shortseller last week put the scent to the mob - they are rabid. Even Janice could not tame this group, I fear.
The company is reporting extraordinary growth in users of their translation utility. I have my doubts, but have no idea how to prove they are exaggerating.
The company has been in business for 5 years, has very low revenues and assets, sold 60 million shares (~25% of total) at a dime in February, and now sports a $300 million market cap.
Apparently it is the next (choose one): Facebook - Google - Yahoo - Bidu - Amazon
Most of the action seems to be occuring in Toronto, which until now I considered a relatively sane place. Apparently not.
So, what do you think the chances that Intertainment Media will follow a course similar to GOOG, YHOO, or BIDU.
I give it .000001%. Yes, it could happen, but it's very very very very very unlikely. What do you give it? 100%, 50%? Would you care to place a bet?
Moreover, none of those stocks rose 500% in a week, nor did they have a cult of a message board like exists at Stockhouse.
In fact, I see nothing here that indicates it's the real thing - just a big gigantic stock rise and a lot of noise.
The stock is up from 12 cents a share this January. How much of an increase do you think this stock deserves. At the moment it is up 1150%. At $2 it is up 1565%. At it's high of $3.25, it was up 2600%.
Those are big percentages - unsustainably big, in fact. If the stock closes above 50 cents at the end of the year I will be impressed by the 300% annual gain.
There is nothing fundamental about the company to warrant this sort of increase. The whole episode is nuts.
There is another explanation, and one that's more likely in my opinion: Someone is simultaneously buying and sell in two different accounts in order to manufacture the appearance of heavy trading. Happens all the time with pump-and-dumps, although not usually to this degree.
There is no way in hell this teeny company with no assets has garnered investment interest to the tune of 11.5 million shares.
David Lucatch transactions. As you can see he acquired about 10 million shares at 13 cents this year and so far has sold about 1 million of those at $1.00.
Issuer name: Intertainment Media Inc.
Insider's Relationship to Issuer: 6 - Director or Senior Officer of 10% Security Holder
Ceased to be Insider: Not applicable
Security designation: Common Shares
1786791 2011-01-12 2011-01-14 Direct Ownership :
16 - Acquisition or disposition under a prospectus exemption +1,250,000 0.1000 4,757,179
1836660 2011-03-21 2011-03-24 Direct Ownership :
36 - Conversion or exchange +5,000,000 0.1100 9,757,179
1838218 2011-03-22 2011-03-25 Direct Ownership :
10 - Acquisition or disposition in the public market -67,500 0.4400 9,689,679
1838219 2011-03-23 2011-03-25 Direct Ownership :
10 - Acquisition or disposition in the public market -98,500 0.4300 9,591,179
1838221 2011-03-23 2011-03-25 Direct Ownership :
10 - Acquisition or disposition in the public market -120,000 0.4400 9,471,179
1836664 2011-03-24 2011-03-24 Direct Ownership :
54 - Exercise of warrants +4,000,000 0.1600 13,471,179
1838223 2011-03-25 2011-03-25 Direct Ownership :
10 - Acquisition or disposition in the public market -70,000 0.4400 13,401,179
1838224 2011-03-25 2011-03-25 Direct Ownership :
10 - Acquisition or disposition in the public market -25,000 0.4700 13,376,179
1838225 2011-03-25 2011-03-25 Direct Ownership :
10 - Acquisition or disposition in the public market -65,000 0.4800 13,311,179
1852775 2011-04-11 2011-04-14 Direct Ownership :
10 - Acquisition or disposition in the public market -51,000 0.8200 13,260,179
1852776 2011-04-11 2011-04-14 Direct Ownership :
10 - Acquisition or disposition in the public market -122,000 0.8252 13,138,179
1852778 2011-04-11 2011-04-14 Direct Ownership :
10 - Acquisition or disposition in the public market -2,000 0.8320 13,136,179
1852779 2011-04-12 2011-04-14 Direct Ownership :
10 - Acquisition or disposition in the public market -100,000 0.8900 13,036,179
1852780 2011-04-12 2011-04-14 Direct Ownership :
10 - Acquisition or disposition in the public market -7,000 0.8400 13,029,179
1852781 2011-04-12 2011-04-14 Direct Ownership :
10 - Acquisition or disposition in the public market -133,000 0.8460 12,896,179
1855435 2011-04-14 2011-04-19 Direct Ownership :
10 - Acquisition or disposition in the public market -103,900 1.1396 12,792,279
1855436 2011-04-14 2011-04-19 Direct Ownership :
10 - Acquisition or disposition in the public market -32,600 1.0800 12,759,679
1855437 2011-04-14 2011-04-19 Direct Ownership :
10 - Acquisition or disposition in the public market -63,500 1.1163 12,696,179
1855438 2011-04-14 2011-04-19 Direct Ownership :
10 - Acquisition or disposition in the public market -10,400 1.1000 12,685,779
1855439 2011-04-14 2011-04-19 Direct Ownership :
10 - Acquisition or disposition in the public market -91,600 1.0830 12,594,179
1855440 2011-04-14 2011-04-19 Direct Ownership :
10 - Acquisition or disposition in the public market -42,700 1.0700 12,551,479
1855441 2011-04-14 2011-04-19 Direct Ownership :
10 - Acquisition or disposition in the public market -5,300 1.0720 12,546,179
Security designation: Convertible Debentures
1836659 2011-03-21 2011-03-24 Direct Ownership :
36 - Conversion or exchange -$550,000 0
Security designation: Exchangeable Shares Warrants
1786794 2011-01-12 2011-01-14 Direct Ownership :
16 - Acquisition or disposition under a prospectus exemption +1,250,000 0.1300 2,000,000
1836661 2011-03-21 2011-03-24 Direct Ownership :
36 - Conversion or exchange +5,000,000 0.1600 7,000,000
1836662 2011-03-24 2011-03-24 Direct Ownership :
54 - Exercise of warrants -4,000,000 0.1600 3,000,000
Security designation: Options (Common Shares)
1838227 2011-03-21 2011-03-25 Direct Ownership :
50 - Grant of options +980,000 0.4300 3,205,000
I don't really care whether a blogger has an agenda or backs up his facts. I look at a blog as an opinion piece.
I do care whether the company is speaking factually and can back up its facts. The company definitely does have a legal obligation, much more so than a blogger.
I don't really believe either one until there is independent verification. That's why auditors exist. People are not investing in the blogger - they are investing in the company.
Having followed the China reverse merger stocks lately, I've heard too many times how the bloggers are bad and wrong, only to have it turn out to be the company.
Anyway, I'm pretty sure this stock will be under $1.00 before long. We can argue back and forth, but only time will tell.
The longs have already done very well - absurdly well. Only in very exceptional circumstances can the value of a company quadruple or more in a matter of a week.
It's up 1500% in three months. Either the stock price will come down a lot or this company is one in a million. Is this really another Facebook, or just another one-day-wonder?
How many shares are the insiders selling? That's usually the key indicator.
How many shares did Zuckerberg sell on the way up?
AMPW is just another Johannes Peterson pump and dump. like SILA and ...... (forget the other recent one).
Seeking alpha blog post asks some hard questions. I don't think INT will survive over $1.00 for more than a couple of weeks.
They have 250 million shares fullly diluted and most investors paid about 10 cents per share. Lockup expires in May.
This company has promoted one internet holy grail after the other. They own no patent or special technology on this translation thing and there are already competitors. It's just a utility imo.
Worth about $25mm, which is 10 cents per share.
http://seekingalpha.com/instablog/125578-admiral-george-anson/166808-intertainment-the-real-deal-or-the-latest-internet-stock-swindle-int-on-tsx-venture
What part of your dd convinced you to go long AMPW? How do you see the company being worth the stock price?
According to the recent 10K filing, there are 90 million shares outstanding giving a market cap of $140 million.
Total assets on the balance sheet are $3.2 million.
Pretty funny. So many interested parties appear simultaneously out of the blue. And coincident with the big mailer.
Don't you folks have a disclosure obligation.... or should I say 'folk'?
From the new 10K:
There were 90,480,000 shares of the registrant’s common stock outstanding as of December 31, 2010.
TOTAL ASSETS $ 3,248,869
On September 10, 2010, the Company entered into a Stock Issuance Agreement (the “Black Sands Agreement”) with Black Sands, whereby the Company has the right to require Black Sands to purchase up to $10,000,000 of the Company’s securities until March 31, 2013, unless extended by either the Company o Black Sands for an additional twelve (12) months.
Under the terms of the Black Sands Agreement, the Company may, from time to time, request an advance from Black Sands up to $1,000,000, in integral multiples of $100,000 (each, an “Advance”) per request for operating expenses, acquisitions, working capital and general corporate activities. Following receipt of any Advance, the Company shall sell and issue Black Sands units, each unit consisting of one share of the Company’s common stock and a warrant to purchase one share of common stock at the Unit Price. As described in the Black Sands Agreement, the “Unit Price” shall mean a price equal to 75% of the volume weighted average of the closing price of the Company’s common stock for the ten (10) business days preceding the date of any notice requesting an Advance, as quoted on Nasdaq or such other quotation system as agreed upon by the Company and Black Sands. Each warrant issued as components to Units shall represent the right of Black Sands to purchase one share of common stock at an exercise price equal to 150% of the Unit Price
Google searches on Steve Sang Keun Suk and on Myung Joon Jung both bring up Korean actors.
A little random research on that Lone Star address:
Our wholly owned subsidiary, Horiyoshi the Third Limited, isthe exclusive licensee of the trademarks, product designs, and copyrighted artwork associated with the Horiyoshi the Third brand. All trademarks, designs and artwork used by Horiyoshi the Third Limited are owned by Stone Corporation Inc. d/b/a Stone Japan, a Japanese corporation that is 80% owned by Lone Star Capital Limited, (a Hong Kong company and our principal shareholder) and 20% owned by Yoshihito Nakano, Master Horiyoshi III.
As a result of the reverse acquisition, Horiyoshi the Third Limited became our wholly-owned subsidiary and the former shareholders of Horiyoshi the Third Limited, became our controlling stockholders, with Lone Star Capital Corp., a Hong Kong company, holding 37.50% of our outstanding common shares and Yoshihito Nakano holding 6,000,000 shares or 9.99% of our outstanding common shares.
HORIYOSHI THE THIRD LIMITED (formerly Horiyoshi III Worldwide Ltd.), a Hong Kong company, of 16E Neich Tower, 128 Gloucester Road, Wanchai, Hong Kong. (“Priveco”) Steve Sang Keun Suk
Lone Star Capital Limited
(formerly Stone Holdings
Corporation Limited)
16E, Neich Tower, 128
Gloucester Road, Wanchai,
Hong Kong
Sinoplanes:
16E Neich Tower
128 Gloucester Road
Wanchai
Hong Kong
http://www.concept-east.com/sinoplanes/contact.htm
Seems entirely unrelated.
Dominic K. N. Tai & Company, Chartered Accountants. Certified Public Accountants. Business Consultants
16E, Neich Tower,
128 Gloucester Road,
Wanchai, Hong Kong
http://www.dknt.com.hk/ContactUs.htm
might be related
Kemajo
http://www.kemajo.com/cont.htm
KeMaJo Limited
16E Neich Tower, 128 Gloucester Road, Hongkong
KeMaJo Limited is a high-tech new generation company located in Hongkong. It is a share-holding company specialized in manufacturing anatomical, biological & medical teaching aids
Seems unrelated
http://www.sinoarmor.com/
armor
16E Neich Tower, 128 Gloucester Road
Wanchai, Hong Kong, xxx
Phone: 852 8122 9417
Fax: 852 3010 1869
Email: info@sinoarmor.com
Web: http://www.sinoarmor.com
related to Sinoplanes above
There are other companies at that address not listed here.
I asked a question. Loopnet says 75,000 sf available and building looks to be about that size. That's why I asked if someone could verify. Loopnet listing must be out of date or something.
This link indicates that the entire building at the address HHWW lists is vacant.
http://www.loopnet.com/Listing/16146660/711-SOUTH-OLIVE-Los-Angeles-CA/
Anyone on this board live in LA and is willing to make a visit?
I think I can see the future:
http://finance.yahoo.com/q/bc?s=GCHT.OB+Basic+Chart&t=1y
GCHT another Calneva stock.
Here we go:
D. Bruce Horton of Calneva works/worked with Brent Pierce
West Vancouver stock promoter works quietly, profitably and behind the scenes
By David Baines, Vancouver Sun June 25, 2010
http://www.vancouversun.com/opinion/West+Vancouver+stock+promoter+works+quietly+profitably+behind+scenes/3198989/story.html#ixzz0rsULs5xO
First in a series
In the spring of 2006, a cabal of Vancouver promoters who are closely associated with notorious West Vancouver promoter Brent Pierce took over a shell company called Revelstoke Industries Inc.
Revelstoke was based in Vancouver, but it had registered its shares in the United States as a prelude to going public on the OTC Bulletin Board. Its purported business was construction site reclamation and preparation, but this was clearly a ruse. Its real utility was as a tightly held, publicly traded shell that could be used for some future promotion.
In April 2006, Marcus Johnson joined as president and CEO. He is an architect who lives and works in Bellingham, Wash., a popular bedroom community for the Howe Street pump-and-dump crowd.
Johnson is a longtime associate of Pierce, who ran into trouble with local securities regulators in 1993 and was banned from the B.C. market for 15 years. To circumvent his ban, Pierce works behind the scenes or out of the jurisdiction, often through his investor relations firm, International Market Trend AG, which is registered in Zurich but operates out of Blaine, Wash., another popular satellite office for Howe Street penny stock pushers.
In May 2006, Johnson was joined by three of Pierce's other cronies:
- Stephen Jewett, who became a director and head of the company's audit committee. He works as a chartered accountant on West Broadway, although he is somewhat restricted in his practice. In 1993, after he audited statements for a junior public company that turned out to be false, his professional association barred him from auditing the books of any public company. He became a director and -- ironically, considering his professional troubles -- head of the company's audit committee.
- D. Bruce Horton, who became a director and chief financial officer. He is a former certified general accountant and a co-founder of Clearly Canadian Beverage Corp. He and another longtime Vancouver promoter, Bryan Dear, run a private company on Alder Street, just a few blocks from Jewett's office, called Calneva Financial Group Ltd., which specializes in taking Chinese companies public on the bulletin board.
- Vaughn Barbon, who joined as controller. Although Barbon was a former bank administration manager, his hiring wouldn't necessarily instil confidence among shareholders. In 1991, he was convicted of embezzling $2.2 million from his then-employer, Montreal Trust, and sentenced to two years in prison. He is listed as a director and officer of Pierco Petroleum Corp., which operates from an office on the 12th floor of 666 Burrard Street.
They renamed the company Geneva Gold Corp. and announced a series of options on mineral properties in Saskatchewan, Panama, Peru and Nigeria. The stock soared to $3.50, but in a familiar pattern, the property deals were aborted, the stock plunged, and trading volume dried up.
Johnson, Horton, Jewett and Barbon -- along with another longtime Pierce cohort named Grant Atkins -- have played substantive roles in many other Pierce-inspired bulletin board pump-and-dump promotions, including Morgan Creek Energy Corp., Uranium Energy Corp., Lexington Resources Inc., and GeneMax Corp.
Denver lawyer Diane Dalmy has also helped all these companies with their SEC filings. Last fall, Dalmy earned the dubious distinction of being banned from the Pink Sheets, the most unregulated market in North America, after submitting legal opinions that were deemed to be substandard.
Pierce's name rarely shows up in any of the companies' filings, but there is no question that he is working in the wings. An example is Lexington Resources, which featured Horton, Jewett, Barbon, Atkins and Dalmy.
Lexington's investor relations affairs was openly handled by Pierce's firm, International Market Trend, but it soon became clear he played a much larger and more insidious role. In 2008, the SEC filed a complaint alleging that Atkins, who was serving as the company's president, had issued more than five million Lexington shares to Pierce and several associates, who then commenced a massive spam and newsletter campaign.
The stock jackknifed to $7.50 US, allowing Pierce and his buddies to dump millions of dollars worth of stock, which had not been registered for resale.
Much of the stock was sold through Hypo Bank, a Liechtenstein bank that was banned from the B.C. market in 2008 for refusing to reveal the beneficial owners of accounts that it ran at a half dozen local brokerage firms.
Lexington's share price later slumped to two cents and the company went bankrupt.
In June 2009, a Seattle judge found that, although Pierce was neither an officer nor director of Lexington, he was the controlling force: "The totality of the circumstances -- Pierce's sway over Lexington's CEO, Atkins, his substantial ownership of Lexington stock, his control over the consultants assigned to work for Lexington [identified as Johnson, Barbon and others] -- all point to Pierce's control of Lexington," the judge said.
The judge ordered Pierce to disgorge just over $2 million of his ill-gotten gains. A few weeks ago, the SEC filed another enforcement action seeking to recover an additional $8 million in profits from the sale of 1.6 million shares in the accounts of two offshore companies that he controlled, Newport Capital Corp. and Jenirob Company Ltd. During that proceeding, Pierce's lawyer revealed that his client is under criminal investigation for another bulletin board pump-and-dump called CellCyte Genetics Corp.
There is no question that Pierce, who is now 53, has made a ton of money from these go-nowhere deals. In November 2006, his wife, Dana, bought a Vancouver condo for $6.2 million. And in August 2007, the couple acquired a waterfront home in West Vancouver for $10.4 million. A few weeks ago, they signed an interim agreement to buy Saturna Island Winery for a reported $12.9 million, but backed out after conducting their due diligence.
I have been trying to catch up to him for years.
On Thursday, I called Pierco Petroleum, where Barbon and Robert Harris, who figured in the CellCyte scandal, are listed as the sole directors. I figured that with a name like Pierco, the great man himself couldn't be too far away.
Sure enough, Pierce answered the phone, but he wasn't in a chatty mood. "Nobody is going to talk to you, David. Have a nice day," he said, hanging up.
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NEXT: We track the rise and fall of Geneva Gold which, like Lexington, turns out to be all smoke and mirrors.
dbaines@vancouversun.com
A new director:
On August 31, 2010, the Board of Directors of First China Pharmaceutical Group, Inc. (the “Company”) appointed Mr. Gregory D. Tse to the Board of Directors of the Company. Mr. Tse, age 51, has over 25 years of international finance, marketing, media, PR and advertising experience with an extensive brand management track record in North America, Hong Kong and China. In China, Mr. Tse has helped many international brands to enter into the marketplace before moving on to become one of China’s first communications/media M&A specialists. Mr. Tse most recently served as Head of China Advisory for Calneva Financial Group from July 2004 to the present date.
What is Calneva? http://www.calneva888.com/index.htm
2443 Alder Street,
Vancouver, British Columbia
Canada, V6H 4A4
The principals of CFG Ltd. source out credible business opportunities in China, complete the due diligence on the project, assist in arranging financing for these enterprises and then guide the private company through the legal and auditing processes required to qualify them for a listing on a recognized stock exchange in the United States. CFG Ltd. has relationships with Certified Public Accounting firms and legal firms (both in China and North America) to ensure that the "going public" process goes smoothly and in compliance with all rules and regulations of the governing stock exchanges in the U.S.
The same parties at the former official address, from the proxy statement of
Mr. Roderick C. Macutay (2)
President, Treasurer, and Director
800 Bellevue Way, Suite 400
Bellevue, Washington 98004 12,500,000 27.8 %
Mrs. Tina Suava (3)
Secretary and Director
800 Bellevue Way, Suite 400
Bellevue, Washington 98004 12,500,000 27.8 %
All Officers and Directors as a Group (4) 25,000,000 55.6 %
Regus > Washington, Bellevue - Bellevue Place 800 Bellevue Way Suite 400. Bellevue, Washington 98004. United States. Main tel: 425 462 4059. Main fax: 425 462 5638.
This address is most likely a mail drop office unless the two people suddenly moved to the Philipines from Seattle, which seems unlikely somehow. Based on Mr. Macutay's new found wealth and the satellite image of his address, I'm thinking he might buy another home soon.