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PATT APP updated for DNRG with Hydro (Early Stage/Project Development)
$286 Project Cost in DRC/Sombwe for 95MW of power *Aiding Dom is USAID which are actually listed as partners involved with Sombwe. (not sure if PATT is correct with Sombwe being located in DRC. It may actually be a location Uganda or the just an incorrect name)
make of it what you choose or will... Still begs the question if a reverse split is in are future?
Ghetto loads, only kind of financing Allen & Watkins seem to be capable of even with a $3750 monthly financing advisor, MN Capital on broad.
Its taking a long time for you to realize you are wrong. You think DNRG holds everything not when you bring in the written facts that contradict what Mikey Watkins had said in a written PR then does the opposite of that statement with another TOXIC LENDER. With still no communication from MGMT I'd bet the 50Kw rubicon gets "pushed" to a later date & time.
Reminder for you, don't forget to end you posts with "SEE YOU AT DOLLAR"! & "THROW IN THE KITCHEN SINK"
Mikey purchased 250,000 shares @ $0.0024 = $600 Now, the pivotal question is will this follow after what happened after Allen's purchase? ARE WE ON THE BRICK OF MORE convertible debt with another Fife, GHS or a "NEW" financing lender. One thing I'm SURE of the financing lender WON"T be on the POWER AFRICA list of lenders.
https://www.sec.gov/Archives/edgar/data/1343254/000116552716000864/xslF345X03/primary_doc.xml
can we all guess who's vacationing near Madagascar? Balaclava
Terre Rouge at this very illustrious Maritim Resort & Spa Mauritius. It's not Watkins.
http://www.maritim.mu
"Who was the lawyer responsible for the paperwork? In its most recent quarterly report, the company names its attorney: Chase Chandler of Brunson, Chandler & Jones, PLLC. The firm is located in Salt Lake City. Only a few months ago, Chandler was working for Vincent & Rees, also of Salt Lake. In May 2012, David Rees was sued by the SEC for his role in the Recycle Tech scam, which could serve as a blueprint for modern promotions in which a private company is formed and reverse merged into a public shell for the sole purpose of running a pump-and-dump scheme. Chandler may have learned much from his former mentor. Or perhaps his mentor is still hanging around, behind the curtain". ****"a private co. is formed & reverse merger into a public shell for SOLE PURPOSE of a PUMP & DUMP"#### Standard Western Energy & Dominovas Energy WAS A REVERSE MERGER####!!!!!
Evidently some of that restricted stock was sold into the market recently, and that is why the SEC suspended ***** on 25 June. In its suspension notice, the agency said specifically that the action was taken “because of concern that certain ******* affiliates and shareholders may have unjustifiably relied upon Rule 144 of the Securities Act of 1933 (“Securities Act”) and they, *******, and others may be engaged in an unlawful distribution of securities through the OTCBB.”
http://www.finra.org/investors/wake-and-smell-pump-and-dump
Check for reverse merger activity. Some pump-and-dump targets have come into existence through reverse mergers, which allow private companies, including those located outside the U.S., to access U.S. investors and markets by merging with an existing U.S. public shell company. The Securities and Exchange Commission (SEC) noted in an Investor Bulletin: "Many companies either fail or struggle to remain viable following a reverse merger. Also, as with other kinds of investments, there have been instances of fraud and other abuses involving reverse merger companies."
http://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=20724058
"As of February 20, 2014, Western Standard Energy Corp. was acquired by Dominovas Energy Corp., in a reverse merger transaction. Western Standard Energy Corp., an exploration stage company, is engaged in the acquisition, exploration, and development of oil and gas properties. The company was founded in 2003 and is based in Kelowna, Canada. Western Standard Energy Corp. is a subsidiary of Monaco Capital Inc"
http://www.smallcapdirectory.com/UploadedDocuments/RD/WSEGInitialReport.pdf
"On September 7, 2007, Lusora Healthcare Systems Inc. completed a reverse merger transaction and was acquired by its subsidiary Western Standard Energy Corp. and changed its name to Western Standard Energy Corp. Consequently, the Company became an independent oil and gas exploration company aimed at securing and developing a portfolio of oil and gas properties throughout the United States"
Founded in 2003
1 Employees (what are we pretending NOT to know here)
LOOK AT THE LAWYER on THE FILING for DOMINOVAS ENERGY's S-1 it's BRUNSON CHANDLER & JONES, PLLC
https://www.sec.gov/Archives/edgar/data/1343254/000116552715000617/g8122.htm
Coming FULL Circle. GHS/Mark Grober, Brunson Chandler & Jones, PLLC run in the same circles or maybe its just ALL COINCIDENCE NOW WE HAVE JOHN M FIFE . All the stocks involved with these names are at $0.0001 NO JOKE. AVERAGE DOWN TO $0.0001 & WAIT FOR THE POP TO $0.0002.
DNRG's Form S-1 filing & GHS (this could be a coincidence with the filing LAWYER & their history)
BRUNSON CHANDLER & JONES, PLLC (anyone familiar with these names?)
https://www.sec.gov/Archives/edgar/data/1343254/000116552715000617/g8122.htm
just wonder who the lawyer's name is for the John M Fife filing ?? Could it be Chase Chandler of Brunson Chandler & Jones ?
Still waiting for the ESIA report by Dominovas...
"what could be depressing the stock price," said Dominovas Energy COO Michael Watkins. "We came to the realization and belief that there is simply too much pressure on the stock as a result of the existing convertible debt"
And what do Allen & Watkins do take on MORE CONVERTIBLE DEBT. This is why these two stay so quiet.
http://dominovasenergy.com/dominovas-energy-announces-plan-to-restructure-and-consolidate-outstanding-debt/
"We do not have sufficient funds for working capital and will need to obtain further financing"
https://www.sec.gov/Archives/edgar/data/1343254/000116552716000830/g8258.htm
Pressure is not off yet. Dominovas is going back to GHS Capital for MORE MONEY. Whatever form that MONEy ends up takes will continue to push this stock price down. Cause no revenue & $16,000,000 dollars in debt and spending $1.2 million per month not good skills.
What happen to this? "As a Power Africa member company, Dominovas Energy will actively engage relevant U.S. agencies to fully employ the participating agencies' tools to ensure any financing and capacity gaps that may exist can be addressed directly, specifically with respect to existing and incremental energy sector investments. This affords Dominovas Energy to benefit from interagency efforts, by leveraging Power Africa's tools including, but not limited to technical expertise and financing; while enhancing project bankability by implementing various risk mitigation tools, as are available through the select agencies comprised in the Power Africa Initiative"
http://www.marketwired.com/press-release/dominovas-energy-lands-historic-partnership-with-us-government-otcqb-dnrg-2032595.htm
What happen to this as well...
"The physical deployment of the RUBICON™ in the Democratic Republic of Congo is expected to begin in Q4 of 2016"
http://www.marketwired.com/press-release/dominovas-energy-enters-second-power-provider-agreement-democratic-republic-congo-otcqb-dnrg-2030052.htm
Derrick W R Townsend The only concern I have is corruption. I just saw VPCO do a reverse split and totally destroy its shareholders for no reason at all. It was not necessary. These companies do not care about shareholders. So I'm just worried if DNRG will act like the rest of OTC stocks and do a reverse split and we lose 99 percent of our investment? Or dilute the stock for no reason. I just have a bad feeling that even if this works out, the company will screw all of us
1 · March 18 at 9:18am
Michael Watkins
Michael Watkins Derrick, we are in business of doing good business. We respect and appreciate the number of individuals that have joined our mission and look forward to being of great benefit to each as we grow and mature as a company.
3 · March 18 at 9:28am
Derrick W R Townsend
Derrick W R Townsend Michael Watkins why don't we hear directly from DNRG with a full corporate update Good or bad?
March 18 at 9:34am
Michael Watkins
Michael Watkins We only report things we do. We could easily exercise and play within the game of hyperbole and 'I'm gonna', but we think that is dangerous, irresponsible, and not fair to investors interested in the genuine well-being and growth of the company. What I can assure you is we are working diligently on your behalf and each of our investors.
4 · March 18 at 11:26am
Derrick W R Townsend
Derrick W R Townsend U guys were busy with news releases when the stock is in double digits! Where is all the selling coming from? Now it's pennies and u guys r quiet. It's hard to believe u guys r credible!
March 18 at 12:34pm · Edited
Michael Watkins
Michael Watkins If we were not credible, you probably wouldn't not take the time to reach out. IMO That being said, what you may be is a little frustrated. What I will ask simply is that you keep in mind there are various cycles to growth companies. We take a few steps forward and then lock in; we progress further and we shore up further. We are who we say we are. Thanks.
4 · March 18 at 1:29pm · Edited
Derrick W R Townsend
Derrick W R Townsend I hope so because if u burn us I will personally report u to the SEC!
March 18 at 1:31pm
Dominovas Energy Welcomes Project Finance Team (HAS MN CAPITAL & NURUDDIN MADE AN EXIT?)
http://dominovasenergy.com/dominovas-energy-welcomes-project-finance-team/
ATLANTA, GA (May 24, 2016) – Dominovas Energy Corporation (OTCQB: DNRG) today announces the appointment of Mr. Mansur Nuruddin, Esq. as advisor, as well as the engagement of his Johannesburg-based firm, MNCapital Africa Advisors (www.mncapital-africa.com). Mr. Nuruddin will assume responsibility for Dominovas Energy’s capital raising, project financing, capital markets, and advisory activities, as well as advising the Company on specific issues relating to corporate governance, corporate finance, and investor relations. Mr. Nuruddin will report to Neal Allen, chairman and chief executive officer of Dominovas Energy.
“We are thrilled to welcome Mansur to Dominovas Energy, where his deep insight and knowledge of our industry, along with his unique investor perspective, makes him an invaluable addition to the team as we execute our project financing and continue with our commitment to deliver shareholder value,” says Allen.
Mr. Nuruddin is an international finance guru with over 15 years of experience in complex corporate transactions, a background that provides him the unique experience of working on four continents: North America, Europe, Asia and now Africa. He began his legal career with the Wall Street law firm of Cravath, Swaine & Moore LLP, where he spent nearly seven years between Cravath’s New York and London offices. He has also worked for Herbert Smith in Hong Kong and Bowman Gilfillan in South Africa. Prior to co-founding MN Capital Africa Advisors, he was the managing partner of Nuruddin & Associates — a boutique legal and financial advisory firm.
Michael Watkins, Dominovas Energy’s COO, states, “Bringing Mansur on board is one of several strategic steps we will take this year to expand upon the aggressive growth we’re currently experiencing within our IPP and PPA pipeline, both in our fuel cell division and within our newly minted hydro division, CURRENTERGY. We believe Mansur will benefit from Dominovas Energy’s already strong immersion in Africa’s frontier markets; and this immersion will serve to complement his exemplary combination of business judgment, proven track record of financing energy projects, professional skills and integrity.”
Over the years, Mr. Nuruddin has had the opportunity to work on a broad range of energy-related corporate transactions, including leveraged buyouts, private equity transactions, public and private mergers and acquisitions, securitizations, initial public offerings, secondary offerings, public and private bond offerings, private placements and joint ventures. He has worked on public and private placements in Europe, the United States, Asia and Africa, and has an in-depth understanding of the security law requirements for capital raising in numerous jurisdictions.
Mr. Nuruddin says, “It is an honor to join Dominovas Energy, a company I have long-admired for its leadership. I applaud its engagement of frontier markets in Africa which requires vision, exceptional relationship assets, along with strong energy sector operational expertise and reputation. Dominovas Energy’s unique perspective and approach relative to providing electricity to the over 600 million sub-Saharan Africans, as well as its ‘Best of Class’ OEM partners, strongly positions the Company as a premier energy solutions firm.
“I look forward to working with management and, thereby, serving Dominovas Energy’s shareholders. Dominovas Energy has strong institutional financial relationships in place, and my firm and I are well-positioned to quarterback the Company’s commitment to delivering timely project finance and enhancing shareholder value through profitable growth and a disciplined and sustainable financial approach.”
Mr. Nuruddin is Ivy League educated, having received his BA with honors from Columbia University in New York City, where he was the recipient of the Kluge Fellowship. He holds a Master’s Degree in Telecommunications from New York University, where he received the NSEP Graduate Enhancement Fellowship and the ITP Academic Excellence Award. He received his Juris Doctorate from New York University School of Law, where he was the recipient of the Dean’s Scholarship. Mr. Nuruddin is admitted to the Bar in the State of New York, and is a member of the New York Bar Association; the American Bar Association; the Asia-Pacific Bar Association; and the International Bar Association.
About MNCapital Africa Advisors
MNCapital Africa Advisors (“MNCAA”) is an African-focused financial advisory firm offering corporate advisory, capital raising and market entry services.
Partners of the firm are based throughout Africa, including Ghana, Nigeria, South Africa, Tanzania and Zimbabwe and in key financial centers globally: Dubai, London, Paris, New York and Singapore. This world-class interdisciplinary team includes lawyers, bankers, business analysts, certified accountants, and marketing professionals, covering a range of industries, from infrastructure, telecoms & media, mining and oil & gas, retail & consumer, agriculture, manufacturing, and financial services.
MNCAA’s capital raising services are backed by strong relationships with key decision-makers in Africa-focused private equity firms and DFIs, sovereign wealth funds, and numerous family offices, HNWIs and strategic investors.
https://www.sec.gov/cgi-bin/browse-edgar?CIK=0001579271&action=getcompany
Fife's Typenex Co-Investment, LLC CIK#: 0001579271 (all company filings link above)
Dominovas Energy Corporation (DNRG) Unveils Strategy to Restructure and Eliminate Convertible Debt
http://dreamteamnetwork.com/blog/dominovas-energy-corp-dnrg/dominovas-energy-corporation-dnrg-unveils-strategy-restructure-eliminate-convertible-debt
June 30, 2016
Before the opening bell on Wednesday, Dominovas Energy Corporation (OTCQB: DNRG) unveiled a new plan aimed at restructuring and eliminating its roughly $700,000 in outstanding convertible debt. The company intends to leverage funds stemming from its financing agreement with GHS Investments, LLC, which was originally announced in November 2015 and approved by the U.S. Securities and Exchange Commission in January, in order to move away from the utilization of convertible debt as a sole source of financing. Drawing down on its GHS Investments equity line, Dominovas Energy will look to enter into discussions with its convertible debt financing partners in an effort to repay convertible notes with cash instead of shares.
“Dominovas Energy is one of the most prolific companies of its kind in the fuel cell industry. It has best-in-class strategic partners for the build and manufacturing of its RUBICON™ fuel cell system; it has contract orders for multiple-Megawatts (MW); it has project financing in place once requisite guarantees are set and in place; the Company has what most Companies in the industry have longed for – so we had to take a close look at what could be depressing the stock price,” Michael Watkins, chief operating officer of Dominovas Energy, stated in yesterday’s news release. “We came to the realization and belief that there is simply too much pressure on the stock as a result of the existing convertible debt; and with our new plan to eliminate said debt, we hope to see representative growth for the Company. We have changed our methods of financing and operating the Company with a goal of increasing clarity and reporting of our operations and providing a stronger vehicle for our shareholders.”
In addition to plans to repay convertible notes, Dominovas Energy is also in ongoing discussions with GHS Investments regarding a long-term equity financing strategy that does not create additional convertible debt. As of yesterday’s update, the company had no plans in place to add new debt or operational capital in connection with its restructuring plan, but a future agreement could play a key role in Dominovas Energy’s efforts to build on the successful presentation of its 50kW RUBICON™ solid oxide fuel cell (SOFC) unit, which is set for installation in South Africa in August, with the eventual deployment of its multi-Megawatt power generation units in sub-Saharan Africa.
Last November, Dominovas completed a concept design study for the efficient manufacturing of its proprietary RUBICON™ SOFC system, during which it identified optimal process design efficiencies, manufacturing and logistical details, and aggregate cost and lead-time estimates. In May, the company built on that unprecedented study when it, in partnership with Edison Power Group, announced plans to launch the first RUBICON™ SOFC system in Johannesburg, South Africa, which will be the first SOFC unit to serve baseload capacity on the African continent upon implementation. With newly-announced plans to restructure and consolidate its outstanding debt ahead of this launch, Dominovas Energy is strengthening its position in the power generation space and clearing the way for the “minimum deployment of 50MW over the next 5 years of Dominovas Energy’s RUBICON™ fuel cell system,” according to Watkins.
Dominovas Energy Announces Plan to Restructure and Consolidate Outstanding Debt
http://dominovasenergy.com/dominovas-energy-announces-plan-to-restructure-and-consolidate-outstanding-debt/
ATLANTA, GA–(Marketwired – Jun 29, 2016) – Dominovas Energy Corporation (OTCQB: DNRG) today announces the activation of a plan targeted to restructure and eliminate the Company’s approximately $700,000 in convertible debt. As the Company entered into an agreement with GHS Investments, LLC and it received an effective notice for its S-1 filing in January of this year for up to US $7.5M, its plan now is to utilize this vehicle for operating capital and to reduce its convertible debt.
On November 12th, 2015, the Company closed agreements with GHS Investments, LLC for the purchase of Dominovas Energy shares which would allow the Company to receive up to $7.5M. On January 11, 2016, the Company received its notice of effectiveness for the S-1 Registration Statement from the Securities and Exchange Commission that was filed late December of 2015. This plan represents a shift in the overall financing strategy of Dominovas Energy, moving away from the utilization of convertible debt as a sole source of financing.
As the Company draws down on its GHS Investment equity line and has additional cash proceeds available, it plans to enter into discussions with its convertible debt financing partners for the potential repayment of the convertible notes with cash instead of shares. The Company is also in discussions with GHS Investments regarding long-term equity financing strategy that is not a convertible debt structure. Dominovas Energy currently has no plans to take on any new debt or operational capital in connection with this restructuring plan.
“Dominovas Energy is one of the most prolific companies of its kind in the fuel cell industry. It has best-in-class strategic partners for the build and manufacturing of its RUBICON™ fuel cell system; it has contract orders for multiple-Megawatts (MW); it has project financing in place once requisite guarantees are set and in place; the Company has what most Companies in the industry have longed for – so we had to take a close look at what could be depressing the stock price,” said Dominovas Energy COO Michael Watkins. “We came to the realization and belief that there is simply too much pressure on the stock as a result of the existing convertible debt; and with our new plan to eliminate said debt, we hope to see representative growth for the Company. We have changed our methods of financing and operating the Company with a goal of increasing clarity and reporting of our operations and providing a stronger vehicle for our shareholders,” Watkins concluded.
“With the successful presentation of the 50kW ‘Showcase’ set for installation in Johannesburg, South Africa in August, the Company will be well on its way for the eventual deployment of its multi-Megawatts units in sub-Saharan Africa,” said Watkins.
Fife settled with the SEC in 2007, agreeing to pay $530,000 without admitting or denying the allegations.
John M Fife, head of Tiberius, himself was accused of fraud by the Securities and Exchange Commission in an unrelated market-timing case a few years ago.
http://www.startribune.com/investor-sues-alleging-manipulation-of-mathstar-stock/69720717/
The lawsuit was filed Monday in federal court in Minneapolis by Tiberius Capital II, a private equity fund run by a Chicago investor -- John Fife -- who is seeking to buy up MathStar shares in a hostile takeover
If any of Tiberius' accusations are true, a lot can still happen with a defunct company on the pink sheets. The complaint details 11 counts of alleged securities fraud and other illegal maneuvers including:
•Pumping MathStar stock by calling shareholders when Tiberius was trying to acquire shares.
•Secretly arranging a merger of MathStar with a language translation startup in Wisconsin called Sajan Inc. without disclosing it at MathStar's annual shareholders meeting in Minneapolis in July.
•"Ramping" MathStar stock -- entering orders for the stock at the end of the day to artificially inflate the price.
•Launching a creeping tender offer -- illegally buying up shares to fend off Tiberius without proper disclosure.
•Failing to disclose conflicts of interest, such as that Feltl and Co. worked for both MathStar and Sajan at times, and that Richard Perkins, a principal of Perkins Capital Management and a MathStar director, didn't disclose that he had clients invested in both MathStar and Sajan.
https://www.sec.gov/Archives/edgar/data/1343254/000116552716000797/ex10-1.htm
MN Capital MOU 8K in case like me I forgot. Good Read on a late Night!
Anyone notice that Mr. Mansur Nuruddin of MNCapital Africa Advisors name has been removed from Leadership section of http://dominovasenergy.com/leadership/
I know that Christian King has been released from Dominovas Energy but I failed to notice exactly when Nuruddin's name was removed from Dom's site.
By the way ALLEN & WATKINS are allegedly paying $3,750 monthly since May 23, 2016 to MN Capital
What maybe GM, Sleeps or Sb.21 could offer insight into is why involve MN Capital if Allen & Watkins are only looking specifically for convertible financing?
Can I get a HALLELUJAH!
Quote:
ORIGNAL POST by Sharktnk http://investorshub.advfn.com/boards/read_msg.aspx?message_id=122052424
* Reporting person John M. Fife is the sole shareholder of reporting person JFV Holdings, Inc., which is the sole shareholder of reporting person Inter-Mountain Capital Corp. On the date of the event which requires filing of this Schedule 13G, Inter-Mountain Capital Corp. had rights to convert the outstanding balance of a certain Secured Convertible Prommissory Note into shares of the Issuer’s common stock. The exercise of such rights is subject to a 9.99% ownership Cap. Thus the number of shares owned by Inter-Mountain Capital Corp. is 821,953,739 shares, based on 8,227,765,160 outstanding shares of Common Stock (as reported by the Issuer on its quarterly report on Form 10-Q filed on November 20, 2014).
http://archive.fast-edgar.com//20160420/AG2Z722CZZ22STD222T52Z32RMEOZC22DC82/
Much hilarity ...
" Prommissory "
Bet he is now.
I found more about John M Fife
ORIGINALLY POSTED by *Clermont on 03/15/14 http://investorshub.advfn.com/boards/read_msg.aspx?message_id=98874688
Hedge fund owner John M. Fife
Amended Statement of Ownership (SC 13G/A)
http://ih.advfn.com/p.php?pid=nmona&article=51077397
** Based on 753,405,163 shares of the Issuer’s common stock which would be outstanding after a full conversion by Tonaquint of its two Secured Convertible Promissory Notes into an aggregate of 45,998,290 shares of the Issuer’s common stock. On October 31, 2011, 707,406,873 shares of the Issuer’s common stock were outstanding, as disclosed by the Issuer in its Quarterly Report on Form 10-Q filed on November 14, 2011.
"On September 5, 2011, reporting person Tonaquint, Inc. (“ Tonaquint ”) and the Issuer entered into a Note Purchase Agreement (the “ Note Purchase Agreement ”). Pursuant to the Note Purchase Agreement, Tonaquint purchased from the Issuer two Secured Convertible Promissory Notes (the “ Convertible Notes ”) in the aggregate principal amount of $2,531,000. Certain terms of the Note Purchase Agreement and the Convertible Notes are further described in Item 4 of the statement on Schedule 13G filed on December 16, 2011, by Tonaquint and its affiliates with respect to their beneficial ownership of the Issuer’s common stock.
As of December 31, 2011, the aggregate balance under the Convertible Notes was $1,931,928.19. The conversion price for the Convertible Notes is 70% of the lowest intra-day trading or closing price for the Issuer’s common stock during the 30 days immediately preceding the conversion date. The lowest intra-day trading or closing price for the Issuer’s common stock during the 30 days immediately preceding December 31, 2011, was $0.06 per share. Thus, on December 31, 2011, the Convertible Notes were convertible into 45,998,290 shares of the Issuer’s common stock."
Who is Tonaquint, INC. president(owner) John M. Fife :
http://investing.businessweek.com/research/stocks/people/person.asp?personId=7505107&ticker=UAHC:US
Mr. John M. Fife has been the Chairman of United American Healthcare Corp.(united american healthcare
(UAHC:OTC US) since October 19, 2010 and its Chief Executive Officer and President since November 5, 2010. Mr. Fife served as the President of Chicago Venture Partners, L.P., since 1998. Mr. Fife also served as the President and Chief Executive Officer of ISP Holdings, Inc. He has founded and successfully managed several small businesses. Prior to this, Mr. Fife was an Assistant Vice President of Continental Illinois Venture Corporation and played a key role in the identification, evaluation, and monitoring of control investments in four portfolio companies. Previously, Mr. Fife was a Consultant at Oracle Corporation for three years. Since 2004 he has been the Chairman of Pulse Systems, LLC and of Typenex Medical, LLC. He has been Director of United American Healthcare Corp. since October 1, 2010. He serves on the Boards of Directors of six technology companies and one retail concern. Mr. Fife has served on the Boards of each of the four CIVC portfolio companies. Mr. Fife holds an M.B.A. from the Harvard Graduate School of Business and a dual undergraduate degree in Statistics and Computer Science from Brigham Young University.
----------------------------------------------------------------------------------------------------------------------
John M. Fife is connected to 8 board members in 3 different organizations across 5 different industries.
His Corporate Headquarters*
303 East Wacker Drive
Chicago, Illinois 60601
United States
Phone: 313-393-4571
----------------------------------------------------------------------------------------------------------------------
This guy is a very smart business man and US stock hedge fund "operator", "Manipulator", "Runner", "Scammer", "Frauder"......
If Uni Core Holding Company did not associate with John M. Fife to have a fraud, criminal, SCAM , we would see UCHC stock pps running up back $0.06/pps plus.....because I believe his 46 million shares cost him over $2 million dollars (bought at $0.06/pps)....and he will not like his stock "drop to water" and become worthless..............But if only "SCAM" & "FRAUD" exist in UCHC that we would see pps continue to drop down to new lower( Holding company keep selling shares to exchange your $$$$$$$$$$$$$$$ to have it's "Capital fund".............never take care of shareholders (no dividend)
And this
U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 19972 / January 19, 2007
SEC v. John M. Fife and Clarion Management, LLC, No. 07-C-0347 (N.D. Ill.) (Kennelly, J).
SEC Charges Chicago Hedge Fund Manager, John M. Fife, and Clarion Management, LLC With Fraud
On January 18, 2007, the Securities and Exchange Commission (Commission) filed a complaint in the United States District Court for the Northern District of Illinois against John M. Fife (Fife) and Clarion Management, LLC (Clarion Management). The complaint alleges that in 2002 and 2003, Fife and Clarion Management engaged in a fraudulent scheme to purchase variable annuity contracts issued by the Lincoln National Life Insurance Company (Lincoln) for Clarion Capital, LP (Clarion Capital) in order to engage in market timing. Clarion Capital was a Chicago hedge fund formed to market time international mutual funds available through variable annuities. According to the complaint, at all relevant times, Fife controlled Clarion Capital and carried out the scheme through Clarion Management, the hedge fund's general partner and unregistered investment adviser. Fife, age 46, is a resident of Chicago, Illinois.
The complaint alleges that Fife and Clarion Management used deceptive tactics to purchase contracts and engage in market timing for the benefit of Clarion Capital. These tactics included using trusts and limited liability companies as nominee contract owners and beneficiaries to conceal Clarion Capital's financial interest in the variable annuity contracts. After the purchase of each contract, Fife and Clarion Management engaged in market timing until their activity was detected and restricted by Lincoln. The complaint also alleges that when Lincoln imposed certain trading restrictions, Fife and Clarion Management caused the trusts to surrender the contracts, and then used deceptive means to disguise the purchase of more variable annuity contracts, including using previously unused trusts and limited liability companies. Through this deception, the complaint alleges that Fife and Clarion Management made hundreds of thousands of dollars in profits for themselves at the expense of the other shareholders in the mutual funds.
The complaint alleges that Fife and Clarion Management violated Section 10(b) of the Securities Exchange Act of 1934 (Exchange Act) and Rule 10b-5 thereunder. The complaint also alleges that Fife violated Section 20(a) of the Exchange Act in his capacity as the control person of Clarion Management. The relief that the Commission is seeking includes disgorgement of Fife and Clarion Management's ill-gotten gains, plus prejudgment interest, and a civil penalty against Fife.
"whenever you look at the companies that John M Fife's various entities have funded you get a list something like this:"
original post, http://investorshub.advfn.com/boards/read_msg.aspx?message_id=90634006
SAPX
SFMI
XDSL
MWIP
TAUG
NVNC
SWET
SDRG
PMBS
BONU
CSKH
EPAZ
BONZ
FLPC
DIDG
ECOB
CBAI
NBRI
HLXW
ARSC
And those are only a SAMPLE.
I finally got tired of looking them all up!
The only thing they have in common is an average price around ZERO.
I suspect most of them don't even trade anymore.
You have to wonder how can a guy make money lending to companies with minimal assets, no profits, and usually not even any revenues.
Oh, wait!
I forgot, all those loans were in the form of CONVERTIBLE bonds -- like the one CTTC just issued to Tonaquint.
The SEC says:
"Because a market price based conversion formula can lead to dramatic stock price reductions and corresponding negative effects on both the company and its shareholders, convertible security financing with market price based conversion ratios have colloquially been called "floorless", "toxic," "death spiral," and "ratchet" convertibles."
Oh, I get it!
PIPES, toxic convertibles, making money lending to broke publicly traded companies, fraud, etc etc -- it's so much clearer now.
http://law.justia.com/cases/federal/district-courts/illinois/ilndce/1:2014cv06846/300210/53/
Typenex Co-Investment LLC v. Solar Wind Energy Tower Inc COURT DOCUMENTS
"SWET argues that Typenex breached its duty to negotiate in good faith by misrepresenting the payment terms for the Buyer Notes, charging that “such acts lack the very basis of ‘good faith,’ honesty.”Doc. 45 at 5.
Failing to tell a negotiating partner about a material change in payment terms— particularly after giving assurances on the subject—certainly sounds like bad faith. But agreements to negotiate in good faith are not freestanding commitments to perform in good faith generally"
CONCLUSION
"For the foregoing reasons, Typenex’s motion to dismiss is granted as to Counts I and II of the counterclaims, and denied as to Counts III and IV of the counterclaims and SWET’s eleventh affirmative defense. SWET has until August 10, 2015 to file amended counterclaims that seek to plead reformation or other contract-based counterclaims. If SWET repleads, Typenex will have until August 31, 2015 to answer the fraud counterclaims (assuming they remain in the same general form) and to answer or otherwise plead to the contract counterclaim(s). If SWET does not replead, Typenex shall answer the fraud counterclaims by August 24, 2015"
SEC litigation w/ JOHN M. FIFE court documents.
https://www.sec.gov/litigation/complaints/2007/comp19972.pdf
"We have changed our methods of financing and operating the Company with a goal of increasing clarity and reporting of our operations and providing a stronger vehicle for our shareholders,” Watkins concluded"
"it plans to enter into discussions with its convertible debt financing partners for the potential repayment of the convertible notes with cash instead of shares. The Company is also in discussions with GHS Investments regarding long-term equity financing strategy that is not a convertible debt structure.Dominovas Energy currently has no plans to take on any new debt or operational capital in connection with this restructuring plan"
"$1.1 million financing agreement about a month ago, but you should bear in mind that they got the cash by issuing a promissory note that can be converted into common stock at a 30% discount. Another thing worth considering is the fact that the creditor is an entity called Typenex Co-Investment, LLC which is led by John M. Fife. The same person was once charged by the SEC with engaging in a fraudulent scheme."
DNRG is 4 weeks over the 1 year mark.
Copy & Pasted the below. A some of the spelling is missing but I sure you can figure it out.
DNRG is @ "Project Development" the 1yr Mark!
Purpose: Undertake long lead me ac vi es and obtain authoriza ons
• Obtain right to develop project from ceding authority
• Apply for Feed in Tariff
• Acquire site
• Apply for necessary permits, authoriza ons, & licenses • Ini ate acquisi on of rights of way for transmission line
• Develop & implement community outreach plan
• Finalize project capital costs
• Iden fy equipment vendors & EPC contractors
• Detailed financial model, incl. cash flow & profitability
• Develop financing plan, details of assets to be financed &
capital structure, & sources & uses of funds
• Select & hire advisors (legal, financial, technical)
Stage 3 Projects
18 month Mark! Nov/Dec
Project Structuring
Purpose: Structure project sufficient to a ract project finance
• Finalize Shareholder Agreement & structure project
vehicle (SPV)
• Nego ate Power Purchase Agreement
• Nego ate Implementa on Agreement (or other host
country support agreement)
• Nego ate Interconnec on Agreement
• Nego ate for equipment & construc on services, including Engineer, Procure & Construct (EPC) Agreement
• Nego ate Opera ons & Maintenance Agreement
• Develop preliminary Informa on Memorandum for
financing
• Prepare environmental / social impact assessment & file
for disclosure
• Iden fy lenders & involve lenders in nego a ons
READ pg.12 "Power Africa defines four project stages in a typical power project as described in Exhibit 7" Classifying Power Projects by Stage of Development
2019 might be the case for installation of the 1st Rubicon. As we all see this will not happen FAST>
Very detailed - Loads of great information & insight
Stage 1 to stage 4, exactly what the PATT App describes will take 4 years (with the lengthiest being Stage 4, "Project Construction & Completion"). Stage 3, part A "Project Structuring" DNRG looks to be mostly completed? Stage 3 part B "Financing"
The nepad report: AFRICA POWER VISION CONCEPT NOTE & IMPLEMENTATION PLAN from Vision to Action
http://www.nepad.org/sites/default/files/documents/files/Africa_Power_Vision_Concept_Note_%26_Implementation_Plan.pdf
Review Technology and Project Agreements
• Review and evaluate the technical aspects of the project and any risks inherent in the technology it will employ (integration, scale-up, etc.).
• Review the project’s permitting and licensing status (tax, tariff , customs, duties, fiscal, and regulatory framework) that could potentially cause delays in construction.
• Review and evaluate draft project agreements and counterparties. All project agreements must be financeable; this is necessarily dependent on reviewing a complete set of financing agreements. Among other things, the creditworthiness of the off-takers/power purchasers needs to be examined, and whether a guarantee of the host government and/or other credit enhancement features are contained in the project agreements.
Review Financial Model and Apply Stress Tests and Sensitivity Analysis
• Advise and assist in the preparation on and review of financial forecasts and a model for the project showing projected revenues and cash flows under a range of business and financial assumptions. These would include building a lender’s base case and sensitivity cases, which will then also be stressed tested under a variety of financial assumptions (different changes in capital expenditures (CAPEX), operating expenditures (OPEX), price, volume, operating efficiency scenarios, etc.). The financial model is a spreadsheet used to evaluate the project’s economics by analysing cash inflows and outflows during the construction on and operations phases from the perspective of each of the project’s stakeholders: project developers, the host government, and banks.
o The project developers need to determine their investment/funding requirements and expected economic returns.
o The host government needs to determine its “government take” (i.e., revenues received by the project) and any associated regulatory costs for monitoring the project. Any tax incentives the host government is prepared to give the project developers need to be examined, such as lower tax rates (income, dividends, interest, royales, etc.), tax holidays, value added tax (VAT) exemptions, import duty exemptions on services and/or equipment, production and investment tax credits, accelerated depreciation, etc.
o The banks need comfort that the debt will be serviced with a margin of safety in compliance with the covenants contained in the project agreements, i.e., the debt service coverage ratio (DSCR).
To do this, a “base case” (a forecast of future cash flows) must be developed. Then stress tests and a sensitivity analysis must be performed on the financial aspects of the project. These tests and analyses are used to evaluate different economic cases/scenarios and their impacts on the project’s financial performance and ultimately, on the tariff . They show the impact on the project’s financial performance and tariff by changing one or more assumptions if they differ from what was previously assumed: CAPEX, OPEX, fuel prices, inflation, construction on period, loan term, interest rate, etc. The debt capacity of the project can then be determined against minimum DSCRs under down-side scenarios. Then the project’s IRR is calculated and a comparison made with the equity returns that are available on alternative investments whose “riskiness” is similar to that of the project. This analysis also helps the host government in pricing concessions to private contractors.
Develop Optimal Capital Structure
• Develop an optimal target capital structure based on the project’s strengths, on bankable terms most favorable to the project developers (yet still acceptable to qualified lenders and the host government). This structure would include appropriate equity support, guarantees, capital structure, cash flow waterfall, security interests, and other appropriate credit support from the project developers, and the project’s contracts and equipment suppliers, as may be necessary or desirable by the lenders until all completion tests are met to the satisfaction on of the lenders to enable the project to revert to limited recourse or non-recourse operational status going forward.
Phase II: Prepare Offering Materials
Review Availability, Type, and Cost of Finance
• Review potential external funding markets for the project and recommend selected sources of finance, with a comparison of their relative advantages and disadvantages, including factors such as cost, ease of execution, likely covenants and other restrictions, size and appetite for the different types of risks, etc.
Prepare Comprehensive Offering Memorandum
• Assist the project developers in preparing marketing materials (including an offering memorandum) describing the project and the financing opportunity to be used in discussions with lenders in order to establish their interest to participate in financing the project.
The conformation you received from Andre was this just one email attempt?
This should REALLY get shareholders ATTENTION!
On August 17, 2015 the Company issued 18,100,000 shares of its common stock to the Chief Executive Officer of the Company for management services. The fair value of the shares is $1,629,000!!!. ******NEAL ALLEN PAID HIMSELF FOR 9 YEARS!!******
On August 17, 2015 the Company issued 8,500,000 shares of its common stock to the Chief Operating Officer of the Company for management services. The fair value of the shares is $765,000!!!.*******MICHAEL WATKINS PAID HIMSELF FOR 7 YEARS!!******
On August 17, 2015 the Company issued 4,500,000 shares of its common stock to a Director of the Company for management services. The fair value of the shares is $405,000.********Emilio DeJesus PAID HIMSELF FOR 8 YEARS*****
NO WONDER ALLEN & WATKINS could care less about answering emails or phone calls. They paid themselves to fail!!! ALL in the recent 10-Q
ALL VERY generous considering they hadn't accomplished A DIME of REVENUE & a year STILL no product or revenue.
DOM had convertible debt ALREADY in JULY of 2015!! GHS Capital deal didn't take place until Nov.13th 2015
On the RECENT 10 Q
On July 9, 2015 the Company issued 6,104,716 shares of its common stock at $0.002 per share to extinguish convertible debt for $11,904.
On August 11, 2015 the Company issued 6,104,716 shares of its common stock at $0.003 per share to extinguish convertible debt for $15,872.
On August 17, 2015 the Company issued 611,177 shares of its common stock at $0.020 per share to extinguish convertible debt for $12,224.
"Investor communications and transfer agent" Dominovas Energy spent $34,091
"Office and general administration" Dominovas Energy spent $211,987 (they only have a virtual office)
"Travel and entertainment" Dominovas Energy spent $219,241
And wait there's MORE!
ALL FROM THE RECENT 10 Q
Prime Example of the effect of TOXIC FINANCING & CONVERTIBLE DEBT will do to a company with a ulterior motives.
Dominovas Energy was able to accomplish [color=red]NOTHING but GIVE SHARES OUT at a severe DISCOUNT at the expense of shareholders(NOTICE there is NO monetary consequence for MGMT). This company is living off of handouts, much like a welfare state. [/color]
And now the welfare may be running out. Or has MGMT already made there EXITS??
Too many transgressions with Neal Allen & Mikey Watkins that can't be marginalized. A $16,000,000 debt & no assets, no viable Rubicon and no communications & a 10-Q that contradicts directly the PR claim of "no plans to take on new DEBT"
Dom only has $5000.00 on hand in cash and NEEDS MORE "WORKING" CAPITAL to continue (stated in the recent 10-Q) But just weeks back Mikey Watkins had said, "Dominovas Energy currently has no plans to take on any new debt or operational capital "in connection" with this restructuring plan"
Meaning after the restructuring talks are done then Dom will START a "NEW" discussion on taking on new debt.
You can facilitate acts like this when you bring home $177,000 yrly AFTER taxes $8,000 monthly for the CEO.
can you guess who's family member just happened to be announce a few weeks ago that they are "furthering their academic career at a graduate school in China"? Wonder what the price tag is on a 2 year graduate school for obtaining a masters degree is in China?
"With the successful presentation of the 50kW 'Showcase' set for installation in Johannesburg, South Africa in August, the Company will be well on its way said Watkins You mean "Aug/Sept/Never" right. *also the verbiage here is misleading. Allen & Mikey are not good at the truth.
What a presumptuous & erroneous state by Mikey Watkins "the successful presentation set for installation" Any one familiar with the word LITANY?? how about ARBITRATION?
Sounds like a hustle using the word "successful" as past tense when Mikey and his financial expertise KNOW the 50kW rubicon has a $1,000,000 price tag & still need more money. Lets not forget Mikey himself said GHS capital "may play a key role" here in the success of the showcase unit and notice to mention 7 days away till August what form that GHS financing will take. .
NOTICE how not only is King GONE but the position in Johannesburg no longer exists at ALL. The word & area Johannesburg, SA is gone from the Dominovas Energy site. Sounds like something very specific may not be working out for Johannesburg area & deployment??
Christian King`Vice President, Operations & Logistics at Dominovas Energy Corporation
Johannesburg Area, South Africa Renewables & Environment
Kreneshen Moodley title at Dom no longer displays Johannesburg, South Africa??
http://dominovasenergy.com/leadership/
Lets see how long into August we get before we hear there's a delay with the "showcase" 50kW rubicon. And or GHS Investments enters into the picture again for the DEATH BLOW.
Everyone enjoying the clarity & the new financing methods? Don't answer in unison.
Mikey Watkins;
"We have changed our methods of financing and operating the Company with a goal of increasing clarity and reporting of our operations and providing a stronger vehicle for our shareholders," Watkins concluded"
This next move will display HOW BAD the DNRG PROCESS is. This will show how bad they CAKED their pants.
Mr. Smith received a $4 million inheritance and funded fedex with that money which is putting your money where your mouth is not to mention respectable backed by some conviction.
DNRG Company is more like a welfare state living off the shareholders. True Story
zero revenue, over $16 million in debt, no assets, no viable product, in need of more working capital, $5000.00 in cash, toxic financing, convertible debt, no communication, no 8-k's on several monumental PR claims, no history of successful employment with Neal Allen & Micheal Watkins, working out of a virtual office both in the US & Africa, no knowledgement of being released from the MOU with Delphi & Graecrest, both DNRG & GHS paper trails lead to Delaware, Nevada, Wyoming, states notorious for shell companies/money laundering, no history of a tested Rubicon, no photos of the Rubicon, $177,000 salary for Neal unwarranted & unjustified, $108,000 salary for Micheal unwarranted & unjustified with zero revenue, zero assets, zero viable product, zero success rate on the product.
With a real Business like this, it's so thin, it feels like you're looking at nothing at all.
I will agree this did take a lot of doing.
I had to emailed every department listed on the Delphi site before I received a reply back on current standing of the MOU with Dom. You may have better luck doing the same.