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The Bureau of Securities administers and enforces New Jersey's securities law, registers securities sold in New Jersey and registers the persons and firms engaged in the sale of securities or investment advice in New Jersey. The Bureau can be reached at 973-504-3600
So you're a Stephenson fan too? I enjoyed Quicksilver, but didn't know that The Confusion had been released. Gotta run out and get it now. Stephenson's a master at immersing the reader in the setting of his novels. I recommend Diamond Age to those who want a taste of what the emerging nanotechnology might be like in full flower. I wish he'd write a sequel to Snow Crash in the same style, but he says he's grown past that.
If nothing else, that note clearly demonstrates Mataras' command of the English language. LOL!
So write to them and ask if they're involved with Cort-Dev and if so ask why an apparently established company with a relatively new facility in Hungary needs to hire a startup Canadian developer whose CEO has a verifiable history of fraud.
One of the posters on RB has an idea...
http://ragingbull.lycos.com/mboard/boards.cgi?board=CDVJ&read=16586
Why would a Hungarian manufacturer want to have a mysterious Canadian developer with NO TRACK RECORD build its expansion facilities? Makes no sense at all.
This tantalizingly almost credible announcement about NEGOTIATIONS is just another in a long series of fluffbombs. I suspect that the 'project' is the work of Andrew Racz of Beral, and it fits with the earlier announcement of an intent to list the company on the Budapest exchange. All the better for short selling by the lender and of course (ahem) money-laundering.
Penny King rant of the day...
http://www.investorshub.com/boards/read_person.asp?membernum=1458&nummsgs=3
LOL, BUDDIEEEE (how many E's?) aka anastasia is almost as delusional as TPK. We joust on the RB MAGR board occasionally--that's the company where the old gumper is a director along with his Cinola pals, and where wierdwillywizard claims he's not a tout.
j- These docs may fill in some of the blanks, but for every question answered, a dozen more come to mind.
Document No.: 92/02
Subject: Securities Commission Releases Greenwell/Supreme Decision
Amendments:
Published Date: 02/21/1992
Effective Date:
_____________________________
Released: February 14, 1992 Contact: Ron Messent
660-4800
The British Columbia Securities Commission today released a decision
on several applications regarding investigations into trading in the
shares of Greenwell Resources Corporation and Supreme Resources Inc.
Temporary cease trade orders were issued against the shares of Greenwell
and Supreme in 1987. Those orders were extended and remain outstanding.
In July 1990, a member of the Commission ordered an investigation into
the affairs of Greenwell, Supreme and others, based on allegations that
certain persons had traded shares of Greenwell and Supreme in the United
States subsequent to the cease trade orders.
Four of those under investigation, Advance Capital Services Corporation,
Jason Dallas, Robert Palm and Michael Doherty, applied to have the investigation
order revoked. They argued that the cease trade orders were invalid,
the investigation order had not been properly issued and the investigation
was beyond the Commission's jurisdiction.
The Commission dismissed these applications.
In October 1990, a member of the Commission ordered an investigation
into the affairs of Greenwell and David Lyon, who was alleged to have
traded shares of Greenwell subsequent to the cease trade order.
Lyon requested a hearing and review, and asked that the investigation
order be revoked, making similar arguments to those by the other applicants.
He argued in the alternative that the investigation order was too broad
and vague.
The Commission decided to vary the October 1990 investigation order to
provide a more appropriate specification of the scope of the investigation.
Copies of the Commission's decision (18 pages) may be obtained in person
at 1100 - 865 Hornby Street, Vancouver, British Columbia.
---------------------------------
British Columbia Securities Commission
Chapter 2 - Hearing Decisions
Weekly Summary, Edition 89:125
Indexed as:
Greenwell Resources Corp. (Re)
IN THE MATTER OF the Securities Act, S.B.C. 1985, c. 83
AND IN THE MATTER OF Greenwell Resources Corporation
AND IN THE MATTER OF Harold Dale Baker and Thomas Rodney
Irving
Decision and Reasons
D.M. Hyndman, E.L. Lien, J.P.H. McCall
Heard: November 22, 1988
Decision: June 19, 1989
COUNSEL:
Boris W. Tyzuk, for the Superintendent of Brokers.
Kenneth W. Ball, for Harold Dale Baker.
Douglas R. Garrod, for Thomas Rodney Irving.
DECISION AND REASONS:-- The matters that were the subject of this
hearing were first set out in a Notice of Hearing dated July 29, 1988.
In this notice the Superintendent of Brokers sought an order under section
145 of the Securities Act (the "Act") to remove the trading exemptions
of Harold Dale Baker ("Baker"), the corporate secretary of Greenwell
Resources Corporation ("Greenwell"), and Thomas Rodney Irving ("Irving"),
a director of Greenwell. The Commission was asked to determine whether,
in connection with purchases of Greenwell's shares, Baker and Irving
had breached section 68(1) of the Act, which prohibits a person in a
special relationship with a reporting issuer from purchasing or selling
securities of the issuer with knowledge of a material fact or material
change in its affairs that he knows or ought reasonably to know has not
been generally disclosed.
In an Amended Notice of Hearing dated October 26, 1988, the Commission
was asked to consider whether a sale of Greenwell shares by Baker was
also in breach of section 68(1). The Superintendent also sought additional
orders in the Amended Notice, firstly, that Baker and Irving be prohibited
from acting as directors or officers of an issuer under section 145.1
of the Act and, secondly, that they pay the costs of the hearing under
section 154.2 of the Act. Sections 145.1 and 154.2 were added to the
Act by an amendment which came into force in August 1988.
BACKGROUND
Greenwell was a reporting issuer listed on the Vancouver Stock Exchange
("the Exchange") throughout the period when the critical events took
place between October 1986 and August 1987. Greenwell had completed a
public financing in September 1986 to raise $194,000, of which $75,000
was spent on a Nevada gold property. Greenwell had three employees at
that time.
On October 1, 1986 Greenwell issued a news release stating that a
letter of intent had been signed for the acquisition of $100 million
of assets in exchange for the issuance of convertible preferred shares
(the "Acquisition"), subject to shareholder and regulatory approval.
Further news releases confirming the Acquisition were issued on November
17, 1986 and February 12, 1987. These were followed up with a President's
Message to Shareholders, dated March 2, 1987, issued in connection with
Greenwell's annual meeting. This document provided no more detailed information
about the Acquisition than the previous releases, other than to describe
the assets as U.S. real estate.
Michael Gilley ("Gilley"), a listings officer at the Exchange, testified
that on April 21, 1987 he advised Greenwell verbally that it was in breach
of its listing agreement because it had failed to provide a Reverse Takeover
Information Statement and back-up documentation in the required 30 days
from the date of the letter of intent. This advice was confirmed in a
letter from the Exchange dated May 12. Greenwell provided the required
documentation to the Exchange on June 12.
The Acquisition contemplated the purchase of U.S. real estate assets,
including a large ranch in Texas. Gilley reviewed the proposed transaction
and was concerned about the value shown for the ranch. With Greenwell's
agreement, the Exchange retained a consultant to review the appraisal
reports. A report was received from the consultant on July 27,
In a letter dated July 28 Gilley posed to Greenwell a number of questions
regarding the deficiencies he had identified in the Acquisition disclosure
documents. Specifically he was concerned because the ranch had been appraised
at a value which appeared to be excessive, it was not owned by Advance
Capital ("Advance"), the proposed vendor, and it was encumbered with
debt approximately equivalent to the appraised value.
Following further communications between Gilley and counsel for Greenwell,
Gilley presented the Acquisition to the Exchange's Listings Committee
on August 19. In a letter dated August 20 to Sobolewski Anfield, counsel
for Greenwell, Don Gordon ("Gordon"), Manager of Policy and Planning
for the Exchange, conveyed the Listings Committee's unanimous decision
that the submission "be withdrawn from further review as the extent of
the deficiencies that remain unresolved is so grave that it is impractical
for further detailed comments to be issued by the Vancouver Stock Exchange."
It was the Committee's opinion that Greenwell had failed to provide "full
true and plain disclosure" of the Acquisition. Greenwell was instructed
in the August 20 letter to immediately submit a news release disclosing
that the Exchange had withdrawn the Acquisition and setting out Greenwell's
plans to either proceed with or withdraw from the Acquisition. This decision
is described as "the Initial VSE Position".
Gordon testified that it was the practice of Exchange personnel to
phone when letters such as the August 20 letter were available for pick-
up. He stated that Sobolewski - Anfield had offices two floors above
the Exchange and had two pick-ups each day.
The price of Greenwell's common shares had remained close to $0.30
prior to March 1987. In March, when the annual meeting was held, there
was a significant increase in volume and the price rose as high as $2.25.
After increasing to $2.60 in May, it declined to $1.11 in June. However,
by early August it had increased again to $2.80, dropping back to $2.40
when the Listings Committee held its meeting on August 19.
On August 21, by way of tickets time-stamped between 6:53 a.m. and
9:14 a.m., Baker sold 4,500 shares of Greenwell through his account at
Levesque Beaubien Inc. at a price of $2.20 in four trades. According
to Baker's August insider report filed with the Commission and dated
September 15, these were the first shares he had sold since August 12
and were the last of some 7,500 shares he had owned at the end of July.
After the August 20 letter was issued, officers of Greenwell and Advance
did not submit or issue the news release requested by the Exchange but
instead contacted the Exchange to register their objection to the Initial
VSE Position. As a result Gordon, who was then acting in the temporary
capacity of Vice President, Listings, agreed to meet with Greenwell representatives
to hear new information that he was told had become available.
The meeting took place during the afternoon of August 25 at the Exchange
and was attended by Robert Palm of Advance, Alec Lenec, Baker and Irving
from Greenwell and David Anfield of Sobolewski Anfield. Gordon was the
only executive officer attending for the Exchange and was accompanied
by a secretary to record the proceedings. At the meeting major problems
were reviewed but no new information was presented, according to Gordon,
who said a tense atmosphere developed and the Greenwell representatives
threatened to delist Greenwell from the Exchange. Gordon then suggested
an alternate approach which, if adopted, would permit the Exchange to
give its approval. He suggested converting the deficiencies identified
by the Exchange into risk factors to be included in the disclosure documents.
This approach would have had the effect of reversing the decision of
the Listings Committee but required the approval of the President of
the Exchange. Gordon testified that he had said he would recommend this
approach. The immediate response from those present, according to Gordon,
was "an audible sigh of relief" and a reduction in tension. The effect
of the August 25 meeting was to keep the file open and to breathe new
life into the Acquisition. Gordon's alternate approach is described as
"the Revised VSE Position."
On August 24 and 25, Greenwell's shares traded at prices between $2.21
and $2.50, closing at $2.30 on August 25. On August 26 the shares traded
as high as $3.05 before trading was halted at 8:13 a.m. The last trade
was at $2.95, an increase of $0.65 on the day, and 93,400 shares were
traded during the short period before the stock was halted. This halt
remained in effect until September 8.
One third of the trading on August 26 was accounted for by Baker and
Irving. Levesque Beaubien Inc. entered a market buy order for Baker's
account for 10,000 Greenwell shares at 6:25 a.m. The order was filled
at prices between $2.40 and $2.60. At 6:58 a.m. West Coast Securities
Ltd. entered a market buy order for Irving's account for 20,000 Greenwell
shares. It was filled at prices ranging from $2.60 to $2.90. Baker reported
the purchase of the 10,000 shares in his August insider report. Irving
did not include his purchase of 20,000 shares in his August insider report
filed September 23, nor in the September report filed on October 28,
nor the October report filed on November 16.
Gordon documented the Revised VSE Position in a letter dated August
27 to Sobolewski Anfield. Greenwell subsequently prepared a draft news
release dated August 31, which incorporated the elements of the Revised
VSE Position. This draft news release was never issued.
When Gordon consulted the President of the Exchange about the Greenwell
matter, the President advised him that he was not prepared to accept
Gordon's recommendation and that the decision of the Listings Committee
should stand. On September 8, 1987 Greenwell issued a news release stating
that it had made application to have its shares voluntarily delisted
from the Exchange and that it intended to proceed with the Acquisition.
Greenwell also said that it was making application to list its shares
on the Alberta Stock Exchange.
Trading in Greenwell's shares resumed at the market open on September
8, following the issue of the news release. During the four days of trading
which remained in the week, trading volume was higher than it had been
since the week ending July 31, 1987 and the closing price was $2.43,
a decline of $0.52 from the pre-halt price. The price declined further
over the following two weeks and closed at $1.85 on September 25.
DECISION
We have been asked to determine whether Baker and Irving have breached
section 68(1) of the Act, which reads in part as follows:
"68(1)
No person in a special relationship with a reporting issuer shall
(a)
purchase or sell securities of the reporting issuer with knowledge of
a material fact or material change in the affairs of the reporting issuer
that he knows or ought reasonably to know has not been generally disclosed
.."
We must first determine whether Baker and Irving were in a special
relationship with Greenwell.
Section 3(1) of the Act states:
"a person is in a special relationship with a reporting issuer where
he ...
(b)
is a director, officer or employee of
(i) the reporting issuer ..."
We find that Baker and Irving were in a special relationship with Greenwell,
Baker as corporate secretary and Irving as a director.
We will next consider whether the Initial VSE Position was a material
fact or material change and, if so, whether Baker contravened section
68(1) when he sold Greenwell securities on August 21. Material change
and material fact are defined in section 1 of the Act as follows:
"material change" means, where used in relation to the affairs of an
issuer, a change in the business, operations, assets or ownership of
the issuer that would reasonably be expected to have a significant effect
on the market price or value of any of the securities of the issuer and
includes a decision to implement that change made by
(a)
senior management of the issuer who believe that confirmation of the
decision by the directors is probable, or
(b)
the directors of the issuer;
"material fact" means, where used in relation to securities issued or
proposed to be issued, a fact that significantly affects, or could be
reasonably expected to significantly affect, the market price or value
of those securities;
Mr. Tyzuk, counsel for the Superintendent, argued that the Initial
VSE Position was a material change. Greenwell's listing agreement with
the Exchange requires, in paragraph 6:
"That the Company shall give to the Exchange prompt notice of each proposed
material change in the general character or nature or organization of
its business, property or affairs, and, without limiting the generality
of the foregoing, this shall include:
..
(c)
every proposed acquisition or disposition (by one transaction or a series
of transactions) of real or personal property at (i) a cost or for a
price exceeding $50,000 where the cost or price requires payment in shares
..
The Company shall not proceed with any of the foregoing transactions
without the prior acceptance of the Exchange."
The Acquisition certainly required Greenwell to give notice to the
Exchange and it did so. Mr. Tyzuk submitted that the Exchange's acceptance
or rejection of the Acquisition would affect the assets, operations,
business or perhaps the ownership of the issuer and would reasonably
be expected to have a significant effect on the market price of Greenwell's
shares.
Mr. Tyzuk further submitted that the price of Greenwell's shares,
since it began climbing from $0.30 in February to the $2.20 level prevailing
in August, had become primarily a function of investor expectations of
Greenwell's prospects after the Exchange's approval of the Acquisition.
He argued that a rejection of the Acquisition would reasonably be expected
to have a significant effect on price.
Mr. Garrod, counsel for Irving, argued that the Initial VSE Position
was neither an acceptance nor a rejection of the Acquisition, since the
Exchange simply requested Greenwell to withdraw its submission, nor was
it a withdrawal on the part of the Exchange. We disagree, and find the
meaning of the Exchange's letter of August 20 to be quite clear: "...it
was unanimously decided... that the Company's submission be withdrawn
from further review..." Although the wording does not accord with that
used in Greenwell's listing agreement, which requires that Greenwell
shall not proceed with a transaction of this type without the prior acceptance
of the Exchange, the Initial VSE Position was clearly a decision not
to accept the Acquisition.
Mr. Garrod further argued that the Initial VSE Position was not a
material change since it did not result in the issuance of an Exchange
notice nor did the Exchange halt trading in Greenwell's shares. No evidence
was placed before us that an event such as the Exchange's decision to
withdraw the Acquisition from review requires a notice to members. The
Exchange's position on halting trading is set out in Greenwell's listing
agreement in paragraph 12, which states that at any time and without
notice the Exchange may suspend or halt trading in Greenwell's shares.
It is evident that the Exchange chose not to exercise its discretion
in this case and instead elected to order Greenwell to issue a news release.
We do not consider the fact that the Exchange did not issue a notice
or halt trading relevant to whether the Initial VSE Position was a material
change in the affairs of Greenwell.
The Initial VSE Position was a decision of the Exchange to deny the
required regulatory approval for a proposed transaction that was the
major business interest of Greenwell. There can be no doubt that the
Initial VSE position was a change in the business, operations and assets
of Greenwell that would reasonably have been expected to have a significant
effect on the market price of Greenwell's securities. We therefore find
that the Initial VSE Position was a material change in the affairs of
Greenwell.
The Initial VSE Position was communicated to Greenwell's solicitors,
Sobolewski Anfield, by a letter dated August 20. By normal practice,
the Exchange telephones to advise that such letters are available for
pick up by the solicitors. Sobolewski Anfield has offices in the Exchange
Tower and normally makes two pick-ups per day. On the morning of August
21, Baker sold all of his remaining shares of Greenwell.
Based on this evidence, we find, on a balance of probabilities that
Sobolewski Anfield received the August 20 letter on August 20, that Baker
learned of the Initial VSE Position from Sobolewski Anfield on August
20 and that Baker knew, or ought reasonably to have known, that the Initial
VSE Position had not been generally disclosed.
We therefore find that, in selling Greenwell shares on the morning
of August 21, while he was in a special relationship with Greenwell,
Baker breached section 68(1).
Next, we will consider whether Baker and Irving breached section 68(1)
when they purchased Greenwell shares on August 26.
The Revised VSE Position was developed by Gordon during the August
25 meeting to provide an alternative approach for dealing with the concerns
raised by the Listings Committee. Unlike the Initial VSE Position it
was not a decision of the Exchange. To become a decision, it would require
the approval of the President of the Exchange.
The importance and potential impact of the Revised VSE Position is
clear. Had it been subsequently approved as an Exchange decision it would
have allowed Greenwell to proceed with the Acquisition, its major business
interest, and would undoubtedly have had a significant effect on the
price or value of Greenwell's shares. It is also important to note that
Gordon's intention to recommend the Revised VSE Position to the appropriate
levels of authority at the Exchange was perceived very positively by
those attending the August 25 meeting. We have Gordon's evidence that
there was a relaxation of the tension that had been present when the
meeting began and a general air of relief. It was evident that the company
representatives, Baker and Irving among them, perceived it to be a reversal
of their misfortune or, as Gordon put it, as breathing new life into
the Acquisition. That the Greenwell representatives saw it as a credible
proposal is further evidenced by the draft news release which they proceeded
to prepare. This was dated August 31 and contained full disclosure of
the matters which Gordon had proposed should be dealt with as risk factors.
Gordon's decision to recommend the Revised VSE Position is critical
to our determination. Even though the Revised VSE Position could not
be implemented without further approval, the fact that it would be recommended
by Gordon, a senior official of the Exchange, would undoubtedly be perceived
by the market as a positive development in the attempt to get approval
for the Acquisition. It was therefore a fact that could reasonably be
expected to significantly affect the market price or value of Greenwell's
shares. Accordingly, we find that Gordon's decision to recommend the
Revised VSE Position, was a material fact in the affairs of Greenwell.
That Baker and Irving had knowledge of Gordon's decision there can
be no doubt. They were in the room and it was the focus of the meeting.
Nor can there be any doubt that they knew it had not been generally disclosed
when they purchased Greenwell shares during the first hour of trading
the very next day.
We therefore find that Baker and Irving, while in a special relationship
with Greenwell, purchased its securities with knowledge of a material
fact in the affairs of Greenwell which they knew had not been generally
disclosed. As a result they breached section 68(1) on August 26.
The Superintendent of Brokers has requested that the Commission issue
an order under section 145 of the Act to remove the trading exemptions
of Baker and Irving for a period of between two and five years. The Superintendent
has also requested that Baker and Irving be removed as officers and directors
of all issuers and be prohibited from so acting for a similar period
by way of an order under section 145.1 of the Act. In addition the Superintendent
sought an order for costs under section 154.2 of the Act.
Counsel for the respondents argued against the imposition of orders
under section 145.1 and 154.2 on the ground that the sections came into
force after the events that were the subject of the hearing and after
the original notice of hearing and, therefore, that the requested orders
would be retrospective in effect. The Commission has previously addressed
this question in a decision in the matter of Marathon Minerals et al.
(British Columbia Securities Commission, Weekly Summary, March 17, 1989,
pages 24 to 26). The panel in that hearing decided in similar circumstances
to impose orders under section 145.1 on the basis that the purpose of
such orders is to protect the public interest, not to penalize past actions.
The panel did not impose orders under section 154.2, because it determined
that such orders would be unfair in view of the fact that the hearing
began before the enactment and coming into force of the new section.
There is no such concern in this case, as the hearing began after the
amendments came into force and the amended notice of hearing stated that
orders would be sought under sections 145.1 and 154.2.
Section 68(1) is one of the key provisions of the Act. It is intended
to make the market operate more fairly by prohibiting trading in securities
by certain persons having possession of certain information that has
not been disclosed to the public. We have found that there were two breaches
of section 68(1) by Baker and one by Irving. Although their trading did
not involve large sums of money, the violation of this fundamental prohibition
requires that the Commission make appropriate orders to protect the public
interest in a fair trading market. These orders should serve as a clear
message to other participants in the marketplace about the activities
the legislation is intended to prevent.
We order, under section 145(1), that the exemptions described in sections
30 to 32, 55, 58, 81 and 82 of the Act do not apply for a period of two
years from the date of this decision to Baker or Irving, provided that,
for a period of 30 days from the date of this order, Baker or Irving
may trade, through a registered dealer, securities that they hold at
the date of this order, for the sole purpose of liquidating their holdings,
and all such trades shall be reported to the Secretary of the Commission.
We order, under section 145.1(1), that Baker and Irving resign any
positions that they hold as directors and officers of reporting issuers
and that they are prohibited from becoming or acting as directors or
officers of any reporting issuers for a period of two years from the
date of this decision.
We order, under section 154.2, that Baker and Irving pay prescribed
fees or charges for the costs of or related to the hearing, the amounts
to be determined following further submissions by the parties to be made
within thirty days of the date of this decision.
D.M. HYNDMAN, Chairman
E.L. LIEN, Member
J.P.H. McCALL, Member
Gesundheit!
jurisper- Acs similarly challenged me to find Palm and Dallas and I asked him if the reference was a 'red herring'. This was his reply:
On Mon, 26 Jan 2004 16:58:51 -0800 The Free and Clear Foundations <xxrayechipking@yahoo.com>
wrote:
No Red Herring, Neal Sobolewski, Esq, Jason Dallas, Robert Palm, >Don McWilliams, formerly of President Mines, all four of them, Canadians, where are they now? The VSE went out of business and merged with the CDNX. Also try Dave Hunt of Oregon -First Colonial Bank of the Marshall Islands, and Robert Gottier of California of First Pacific Bank of the Marshall Islands...also Republic of Marshall Islands vs United States Gov't.
Some interesting references there. Wasn't Hunt some kind of evangelical whacko?
He talks about everything else! I wonder what Miller, Reid, Samaroo and the other 'interim' directors of TLXX might have to say about their relationships with Acs.
Nanuck- While Acs prints are surely on file, have Palm and Dallas been arrested and thus fingerprinted? If so, then the law-enforcement 'system' already knows the answer to the identity question here.
Have you tried FOIA requests for Acs' criminal file?
I guess that poetry and stock scams just don't mix.
I don't 'hate' it, but the poetry is rarely very good. LOL!
TPK included this poem in a PM early this year, and the first two lines were a recurring theme in his correspondence.
You don't know my name.
You don't know who I am.
You just play that electronic paper game.
I have always played for keeps.
Bankers and the lawyers
They all fall down
The homeless will give you
A brand new crown.
Copper for your paper
Mettle for your dreams
When you're drowning in your debts
No one hears your screams
But you are the King
You are the Knight
You are the way
And you are the light
But you're not the only one!
nanuck- There are a number of Reid/Acs references...
...and it seems that the good Reverend was either scammed by Acs or is some kind of accomplice (most likely the former). Here's the 'smoking gun' press release:
10/31/2002
Press release from: Advanced Capital Services Corporation
$30 Billion Venture Fund Forming for Alternative Energy
Advanced Capital Services Leads Capital Pool Formation for Fuel Cell Industry
(CSRwire) Maryland - The US market for fuel cells is projected to expand four-fold through 2006 to $3.3 billion. The electric power generation, remote supply, grid support, cogeneration market is projected to commercialize first, followed by portable power, cellphones, handheld computers, camcorders, digicams, and other advancing technologies.
Fuel cell automobiles may not emerge until after 2011 according to some industry experts, but this may rapidly change as one firm has established a project to cut this development time in half.
Advanced Capital Services has announced that it is interested in accelerating the expansion of this burgeoning global industry by providing the means for capital creation to deliver this technology to an estimated $1.6 trillion annual global market.
To that end the firm has launched its campaign to connect industry leaders interested in consolidating their firms by investing initially in minority stakes of various companies that are involved in this industry and further providing them with capital to commercialize these technologies as alternatives to continued global dependence on fossil fuels.
"We are interested in acquiring between 10 and 49% equity stakes in any company that produces stacks and systems, fuels, fuel cell electronics, stack components, fuel reformers and processors, hydrogen storage devices, fuel cell services, power generation equipment, automotive, mass transit, trucking, aircraft, portable electronics, military/aerospace, motive power, backup power, and related technological advancements in this industry", said Gene Rineer, Vice President of Mergers and Acquisitions.
"We have identified 34 key participants in this industry including Avista, Ballard Power Systems, DuPont, FuelCell Energy, General Electric, H Power, Honeywell International, Plug Power, Siemens, and United Technologies who we are approaching to participate in a multi billion venture pool to rapidly accelerate fuel cell technology," said Special Agent for Relationship Development, Medgar L. Reid in Maryland.
"Some of these firms may not be in a position to accelerate the advancement of this industry with us due to current market conditions, however, we would welcome their continued participation and would consider them as potential partners in our capital formation strategy for the entire industry," added Reid.
"In order to accelerate this rapidly advancing industry, we are advising industry leaders and high ranking international government officials on the formation of a capital pool of $30 billion for direct foreign investment in the United States through a network of international banks, private and institutional foreign investors which will streamline, consolidate, expand and commercialize this industry toward its $1.6 trillion annual potential, thereby cutting in half the time to bring this technology to market," said Reid.
So far the firm has recieved responses from two firms to which proposals have been sent to provide up to $400 million in capital for global expansion and commercialization of their products.
One such firm Powerzinc Electric, Inc. is a California based company dedicated to the research, development and manufacturing of a new, advanced environmentally-friendly zinc-air fuel cell and zinc-air battery. Their key product - DQFC series zinc-air fuel cells are a high performance fuel cell that is specifically designed for electric vehicle applications. It is currently capable of powering an electric scooter for over 130 miles with a short, mechanical refuel time of less than 5 minutes. Powerzinc's proprietary zinc-air fuel cell technology is also suitable for applications in consumer electronics, back-up power sources, telecommunications,medical devices, pleasure boats, and other transportation systems.
http://www.csrwire.com/print.cgi?sfArticleId=1373
Apparently not. In his SEC case depositions, Acs acknowledged that FCFA did not have proper non-profit status.
Yes indeed, pictures would be perfect. Do you have any of Gabe and Mataras or Safadi? While pix from the SeaOrg daze would be interesting of course, more recent photos would be more appropriate for this forum.
Thanks!
Interesting questions, EVEN. Acs reads this board, so maybe he'll use one of his three daily posts to reply. I know he's mentioned Adler and Citibank, but have never seen him reference Wolfson.
He claimed to be buying all the copies himself to increase the book's rarity. I guess you could consider it book price manipulation. LOL!
Here's the Amazon review, obviously penned by Acs himself:
Who is this guy?, October 23, 2003
Reviewer: A reader from Seattle
Former Mortgage Banker Gabor shares the agony of a collapsing marriage and failing businesses, his outrage at the Internal Revenue Service and societies phony restrictions, and his philosophy---freedom from tyranny for all Americans. A few have said that if this book could sell a million copies the military industrial complex, their financiers and the IRS would be out of business. Only 2,000 copies of this book were ever put into print. The author is rumored to be buying them back for prices ranging between $2,000 and $5,000 making a market in them like a stock or a bond. The book is now a rare collectors item, racy, raunchy, visionary...there has never been such a rationale for polygamy...a once famous Seattle radio talk show host says this is one of the first books in a new genre created by Gabor called "Kiss and Tell on yourself"....learn the inner thoughts and feelings of someone labeled a "sex addict" by the psychological professions....Sexaholics Letters, Journals and Poetry tell all. There is nothing like it, and his next book, "The Second Coming of the Sex Crazed Money Man" will soon be published by the Free and Clear Press documenting how he became the worlds first trillionaire. Who is he? Buy the book and find out.
http://www.amazon.com/exec/obidos/tg/detail/-/1880983893/qid=1086154854/sr=1-1/ref=sr_1_1/102-381366...
I've seen that piece, Bonnie, but I don't think that Acs wrote it.
LOL Janice. Surely someone can find a picture of Acs--a mug shot at the very least. I know there's a picture of him on the back cover of his "Confessions of a Sex-Crazed Money Man" book, but it's quite hard to find.
Matt called this a 'circus', but it seems to be all clowns. LOL!
Mataras has an IHUB alias, but hasn't posted. I don't know why Matt 'jailed' him. While he's in the 'Jailhouse', he can receive but can't send private messages.
http://www.investorshub.com/boards/profile.asp?user=40368
Indeed, if it wasn't for the several layers of apparent stock fraud, it would be quite a clown show.
The whole story of Acs, Mataras and TLXX is stranger than fiction, Matt. Please don't delete anything.
New President/CEO Denounces All Statements and Misrepresentations by Gabor Acs
5/26/04
(Sherman Oaks, CA May 11, 2004) In an effort to set the record straight and thwart the plethora of recent illicit Internet postings, Paul Mataras, new President/CEO of Telynx, Inc. (TLXX) officially denounces all the statements and misrepresentations by Gabor Acs regarding Telynx and its current officers. The company and its officers have no associations whatsoever with Acs or any of his associates.
"With the user name "thepennyking," Mr. Acs has recently been posting libelous, irrelevant, and distasteful posting concerning the new management team at Telynx. With respect to the superfluous postings throughout the Internet by Mr. Acs, they are without merit. In fact, the current administration has formally requested that Mr. Acs be removed from the IHUB message board and that the messages be stopped. A formal written request and notice was also made that all previous posting of "thepennyking" be deleted," continues Mataras.
Furthermore, the company is in the process of bringing legal action against all the misrepresentations and false statements made by Acs in his different Internet postings as well as all the Press Releases made about Telynx over the last year.
Mataras definitively declares "Mr. Acs illegally misrepresented himself as the majority owner of Telynx shares to the public. Mr. Acs is a convicted felon and was involved in a number of illegal stock exchange transactions as well. Recently, the SEC handed down a 21-counts complaint against Mr. Acs and his company Penny King Holdings of which we believe he pled guilty to all 21 counts."
"It is our sincerest hope that Mr. Acs will hence forth behave legally, morally, and ethically." concludes Mataras.
Telynx is a leader in telecommunications infrastructure management systems. The company supplies software and professional services for Operations Support Systems (OSS) of telecommunications industry and for general enterprise networks. Telynx's customers include clients in the telecommunications industry and Fortune 100 financial institutions. Telynx trades on the Pink Sheets under TLXX.
MEDIA CONTACT: Michael Conley
CONLEY COMMUNICATIONS
818.389.3577
Except for the historical information, the matters discussed in this news release are forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. Factors that could effect results include the mix of business between product and services; the type and size of customers doing business with the company and the structure of those transactions, their products and services requirements and the impact of timing of revenues relative to expenses; timely development, introduction and acceptance of new products and enhancements to existing products and evolving markets; expansion of the company?s ability to consummate relationships with alliance partners; the impact of competitive announcements and products; the rate of growth of the market in which the company competes; acquisition activities and the ability to integrate acquired businesses successfully; the impact of changes in accounting standard; the effects and rate of change in standard platforms for telecommunications products; as well as the risk factors listed from time to time in the company?s U.S. Securities and Exchange Commission (SEC) reports. The company assumes no obligation to update the forward-looking statements included in this news release.
http://www.webwire.com/TopTenView.asp?id=3645
I really hope that Matt doesn't delete Acs posts. Raging Bull does that when they permanently suspend an alias and we lose an important historical record that can later be used for reference. If Mataras is so concerned, then he should directly refute the posts so that there is a reply on record.
New President/CEO Denounces All Statements and Misrepresentations by Gabor Acs
5/26/04
(Sherman Oaks, CA May 11, 2004) In an effort to set the record straight and thwart the plethora of recent illicit Internet postings, Paul Mataras, new President/CEO of Telynx, Inc. (TLXX) officially denounces all the statements and misrepresentations by Gabor Acs regarding Telynx and its current officers. The company and its officers have no associations whatsoever with Acs or any of his associates.
"With the user name "thepennyking," Mr. Acs has recently been posting libelous, irrelevant, and distasteful posting concerning the new management team at Telynx. With respect to the superfluous postings throughout the Internet by Mr. Acs, they are without merit. In fact, the current administration has formally requested that Mr. Acs be removed from the IHUB message board and that the messages be stopped. A formal written request and notice was also made that all previous posting of "thepennyking" be deleted," continues Mataras.
Furthermore, the company is in the process of bringing legal action against all the misrepresentations and false statements made by Acs in his different Internet postings as well as all the Press Releases made about Telynx over the last year.
Mataras definitively declares "Mr. Acs illegally misrepresented himself as the majority owner of Telynx shares to the public. Mr. Acs is a convicted felon and was involved in a number of illegal stock exchange transactions as well. Recently, the SEC handed down a 21-counts complaint against Mr. Acs and his company Penny King Holdings of which we believe he pled guilty to all 21 counts."
"It is our sincerest hope that Mr. Acs will hence forth behave legally, morally, and ethically." concludes Mataras.
Telynx is a leader in telecommunications infrastructure management systems. The company supplies software and professional services for Operations Support Systems (OSS) of telecommunications industry and for general enterprise networks. Telynx's customers include clients in the telecommunications industry and Fortune 100 financial institutions. Telynx trades on the Pink Sheets under TLXX.
MEDIA CONTACT: Michael Conley
CONLEY COMMUNICATIONS
818.389.3577
Except for the historical information, the matters discussed in this news release are forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. Factors that could effect results include the mix of business between product and services; the type and size of customers doing business with the company and the structure of those transactions, their products and services requirements and the impact of timing of revenues relative to expenses; timely development, introduction and acceptance of new products and enhancements to existing products and evolving markets; expansion of the company?s ability to consummate relationships with alliance partners; the impact of competitive announcements and products; the rate of growth of the market in which the company competes; acquisition activities and the ability to integrate acquired businesses successfully; the impact of changes in accounting standard; the effects and rate of change in standard platforms for telecommunications products; as well as the risk factors listed from time to time in the company?s U.S. Securities and Exchange Commission (SEC) reports. The company assumes no obligation to update the forward-looking statements included in this news release.
http://www.webwire.com/TopTenView.asp?id=3645
Nice delusional comment, stc. But marketmakers get their commissions regardless of the direction of the price. Touts and stucks love to blame the marketmakers for price declines.
The decline resulted from stealthy and relentless dilution as CortDev issued shares to (likely) its lender who (again likely) had established a short position when the financing was first announced. Unfortunately, CDVJ is non-reporting pink sheet trash, and there are no SEC filings to tell us the identity of the lender or the terms of the financing.
No matter what the actual mechanism, the issuance of more than a billion shares tends to depress price, and the fact that CortDev hasn't really delivered anything it's promised fuels the trend.
Only one almost involuntary response came to mind as I read your latest rant, g!...
BWAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAH!!!!!!!!!!!!!!!!!
[Suppressed Sound Link]
With over a billion shares of CDVJ outstanding, the two dividends will result in the issuance of more than 20MM shares of CSJJ. How many of the billion plus CDVJ shares are owned by Cortellazzi, Racz, the mysterious lenders, Digitalus and the Vetdermal players?
How can a 'wholly owned subsidiary' have a public float?
IHUB justice...
Posted by: thepennyking
In reply to: IH Admin [Matt] who wrote msg# 37398
Date:5/27/2004 11:32:27 AM
Post #37404 of 37421
My question is what specifically is the charge of the TOU violation?
http://www.investorshub.com/boards/read_msg.asp?message_id=3186785
Posted by: IH Admin [Matt]
In reply to: thepennyking who wrote msg# 37404
Date: 5/27/2004 12:12:59 PM
Post #37412
You've pretty much violated them all. Carry your tune to RB. More your type of people.
http://www.investorshub.com/boards/read_msg.asp?message_id=3187327
Apparently, it's headed nowhere.
Please Bonnie! You're really reaching to associate Valentine's travel agenda with the present krautgate nonsense. Most penny trash stocks who listed in Germany touted it as a mechanism to reach the European marketplace. Pick a lie, any lie. LOL!
We're the Cops of the World
--Phil Ochs, 1965
Come, get out of the way, boys
Quick, get out of the way
You'd better watch what you say, boys
Better watch what you say
We've rammed in your harbor and tied to your port
And our pistols are hungry and our tempers are short
So bring your daughters around to the port
'Cause we're the Cops of the World, boys
We're the Cops of the World
We pick and choose as please, boys
Pick and choose as please
You'd best get down on your knees, boys
Best get down on your knees
We're hairy and horny and ready to shack
And we don't care if you're yellow or black
Just take off your clothes and lay down on your back
'Cause we're the Cops of the World, boys
We're the Cops of the World
Our boots are needing a shine, boys
Boots are needing a shine
But our Coca-Cola is fine, boys
Coca-Cola is fine
We've got to protect all our citizens fair
So we'll send a battalion for everyone there
And maybe we'll leave in a couple of years
'Cause we're the Cops of the World, boys
We're the Cops of the World
And dump the reds in a pile, boys
Dump the reds in a pile
You'd better wipe off that smile, boys
Better wipe off that smile
We'll spit through the streets of the cities we wreck
And we'll find you a leader that you can't elect
Those treaties we signed were a pain in the neck
'Cause we're the Cops of the World, boys
We're the Cops of the World
And clean the johns with a rag, boys
Clean the johns with a rag
If you like you can use your flag, boys
If you like you can use your flag
We've got too much money we're looking for toys
And guns will be guns and boys will be boys
But we'll gladly pay for all we destroy
'Cause we're the Cops of the World, boys
We're the Cops of the World
Please stay off of the grass, boys
Please stay off of the grass
Here's a kick in the ass, boys
Here's a kick in the ass
We'll smash down your doors, we don't bother to knock
We've done it before, so why all the shock
We're the biggest and the toughest kids on the block
And we're the Cops of the World, boys
We're the Cops of the World
And when we butchered your sons, boys
When we butchered your sons
Have a stick of our gum, boys
Have a stick of our bubble gum
We own half the world, oh say can you see
And the name for our profits is democracy
So, like it or not, you will have to be free
'Cause we're the Cops of the World, boys
We're the Cops of the World
I'll bet it is!
Unfortunately, Janice, I've never had the opportunity to venture past the shores of the North American continent. As far as I know, if you get past the sea monsters you still have to deal with the Edge.
The exhibition begins in 1261?? I guess we missed it. LOL!
It's a poorly constructed sentence. The empire is still called 'Byzantium'. It's capital, Constantinople, is now called Istanbul.
Right. Ask an Iraqi about recent alterations to their state.