Selling short DIBZ operated by Keith Maydak (prison) and Paul Taylor (NCVT Telatinos guy)
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I received an email from Adam Marek a couple hours ago. I asked him, "Will there be a reverse split and, if so, how much of one. Usually, shareholders get screwed on a r/s"
---------
Hi Mookie.
As you know probably know, advising a single person of what we intend to do with the share structure would violate Regulation FD. We will release information about how we intend to handle the stock's structure as soon as a final decision is made. However, my underlying goal will be for our company to move forward in a manner that is mutually beneficial for the company and both our prior and future investors. I can tell you that we intend to act promptly as we are interested in proceeding with everyone on board as quickly as we can.
Adam Marek
President
Beacon Redevelopment Industrial Corp.
(Safe Harbor statement was at the bottom)
So Taylor Moffitt is protecting his family by selling the shell to the highest bidder!
I bought a few shares at .0002 limit and received them at .00019. I think the only ones able to sell about .0001 are market makers and they are willing to do it at .00019 to keep us down.
Maybe we need a reverse split so long as Marek doesn't dilute us to death.
I don't know.
Looking for newz this week!
The receiver for North American Clearing Inc., which was shut down yesterday by the Securities and Exchange Commission, said today that an initial assessment indicated that no customer securities or cash are missing from the firm.
“It appears at this point that the assets are there,” said Peter J. Anderson, an attorney at Sutherland Asbill & Brennan LLP of Atlanta, the receiver appointed yesterday by a U.S. district court in Florida. “We haven't seen any indication that the firm is underwater.”
In a complaint announced yesterday, the SEC alleged that North American Clearing of Longwood, Fla. and its owner, Richard Goble, improperly used customer money market funds to fund the firm's operations.
“We're working feverishly to do the necessary calculations [and] evaluate the securities and cash positions” so that customers of North American Clearing's correspondent firms can access their money and transact business, Mr. Anderson said. “A number of correspondents will want to move [to other clearing firms], and we will do what we can to facilitate that.”
The Depository Trust and Clearing Corp. of New York won’t allow any activity in North American Clearing's accounts, Mr. Anderson said, “and until we settle up with DTCC,” accounts will be frozen.
He hopes that by next week, he will have more information for correspondents as to when trading in accounts held at North American Clearing could begin.
What's the BIHC all about?
How much did he pay for the others?
All peeps whose brokers clear through North American Clearing are FROZEN and cannot liquidate or withdraw. NAC used customer funds to pay their bills!
U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 20602 / May 28, 2008
Securities and Exchange Commission v. North American Clearing, Inc., et al., Civil Action No. 6:08-CV-829-Orl-31-GJK (M.D. FL) (May 27, 2008)
The Securities and Exchange Commission (SEC) today announced that it has obtained an asset freeze and other emergency relief to protect investors whose funds were at risk due to fraudulent misconduct at North American Clearing, Inc., a Longwood, Florida based general securities and clearing brokerage firm. North American Clearing services approximately 40 correspondent brokers and clears transactions for over 10,000 customer accounts.
The SEC requested the relief when it filed a complaint on May 27, 2008 against North American Clearing, its founder and director Richard L. Goble, its president Bruce B. Blatman, and its former financial and operations principal Timothy J. Ward, charging them with fraud and other securities laws violations. The SEC's complaint alleges that the defendants engaged in illegal activities, including the misuse of customer funds, in order to hide North American Clearing's financial problems and to pay for its daily business operations.
In addition to the asset freeze, the SEC obtained a temporary restraining order against the defendants and an order appointing a receiver over North American Clearing.
The SEC's complaint alleges that the defendants' fraud began earlier this year, when North American Clearing began experiencing severe financial problems. To ease its financial difficulties, North American Clearing secured a bank loan using customer securities as collateral. To comply with the federal securities laws and remain in operation, North American Clearing increased its reserves in an account it maintained for the benefit of customers, which limited funds available to North American Clearing to meet its daily operating expenses.
According to the SEC's complaint, on several occasions in March and April 2008, North American Clearing improperly sold customer money market funds as a means of temporarily freeing up funds that it then used to pay for daily operating expenses. The SEC's complaint also alleges that on May 13, 2008, the defendants manipulated North American Clearing's processing system to overstate net customer money market purchases. This enabled North American Clearing to illegally withdraw more than $3 million from the reserves it was required to maintain for the benefit of customers.
The SEC's complaint, filed in the United States District Court for the Middle District of Florida in Orlando, seeks preliminary and permanent injunctions, disgorgement of ill-gotten gains against North American Clearing and Goble, and civil penalties against all defendants. The SEC's complaint alleges that the defendants violated the antifraud, customer protection and books and records provisions of the Securities Exchange Act of 1934 (Exchange Act). Specifically, the SEC alleges that North American Clearing violated Sections 10(b), 15(c), and 17(a) of the Exchange Act and Rules 10b-5, 15c3-3, and 17a-3 thereunder, and that Goble, Blatman, and Ward violated Section 10(b) of the Exchange Act and Rule 10b-5 thereunder and aided and abetted North American Clearing's violations of Sections 15(c) and 17(a) of the Exchange Act and Rules 15c3-3, and 17a-3 thereunder.
On May 27, 2008, the Honorable Gregory A. Presnell granted the SEC's ex parte motion for emergency relief, entering a temporary restraining order against the defendants and freezing North American Clearing's assets. The order also provides for a sworn accounting from North American Clearing and preservation of its records. The Court further appointed Peter J. Anderson, an attorney in the law firm of Sutherland Asbill & Brennan LLP of Atlanta, Georgia, as a receiver over North American Clearing. Among other things, the receiver is responsible for marshaling and safeguarding assets held by North American Clearing. A show cause hearing has been set for June 6, 2008, to determine whether the emergency asset freeze and other relief should remain in effect.
The Commission acknowledges the assistance of the Financial Industry Regulatory Authority (FINRA) in this matter.
I bought a few more today at .0001, but I'm in it for the long haul.
I think it's in the one on the left, but they make it clear they just have an office therein.
I think what's going to be important is the projects they will be involved in and where they are located.
Looks like the company's offices are in the complex on the left side of the road.
http://maps.google.com/maps?f=l&hl=en&geocode=&q=&near=14390+Rte+30,+Irwin,+Westmoreland,+Pennsylvania+15642,+United+States&sll=40.355538,-79.76645&sspn=0.018281,0.034332&ie=UTF8&ll=40.353944,-79.768134&spn=0.002285,0.004292&t=h&z=18&lci=lmc:panoramio
724-871 is Irwin, PA. That's the same place as North Huntingdon apparently.
http://www.directory-assistance.net/npanxx/724871.html
724 is the outskirts of Pittsburgh. It surrounds 412.
I don't think. Sonystyle obtained a pic of Adam which is in the ibox.
I think that people were just hoping that they'd do something legit this time around. But 25 billion authorized, won't be nothing but a .0001 in a few months time.
What was loftworks?
This might be one heck of a play! The company doesn't seem interested in killing the stock price through dilution.
They've been painting at the end of the day. Good brokers will charge you only commission for the entire order pending it's lifespan.
Understood, but the concept, if managed properly, would/could have been good.
Has anyone else confirmed that Moffitt took the authorized to 20 million then raised it to 25 billion? That's a wipeout of the old shareholders, if it was 20 million then they still owned half. I don't think that's right, and I'll be selling the shares I bought at .017 average to break even and leave. I think that moving it from 20 million to 25 billion shows that the intention is to do a repeat performance of when Frank Love was in charge.
Looks like a whole new concept moving into ITLV. I'm excited to see where we are going.
I like the concept here and think there's a lot of opportunities with a virtual world. Anyone know what's holding down this stock?
That's a good question, but I'm diving in regardless. If they don't do a reverse, then there's a good opportunity to double the money. If they do a reverse, and they don't massively dilute, this could rise depending on what they plan to put into it. I've seen a couple decent reverse splits done where the shareholders actually made money.
I guess it'll all depend on how this Marek guy takes care of his business.
Whatever it is, it's going to be better than what we're used to.
Interesting events here, if it's a bad investment, then it'll be a good book.
ITLV turning into Beacon Redevelopment. .0001 presently.
Thanks, I hope we can make this a profitable investment for all including the new company (although our new President is a bit dorky).
beaconredevelopment.com
Registrant:
Beacon Redevelopment Industrial Corporation Inc.
14390 Lincoln Highway, Office 29
North Huntingdon, Pennsylvania 15642
United States
Administrative Contact:
Manager, Domain
Beacon Redevelopment Industrial Corporation Inc.
14390 Lincoln Highway, Office 29
North Huntingdon, Pennsylvania 15642
United States
(724) 871-7458 Fax -- (302) 450-7233
Technical Contact:
Manager, Domain
Beacon Redevelopment Industrial Corporation Inc.
14390 Lincoln Highway
North Huntingdon, Pennsylvania 15642
United States
(724) 871-7458 Fax -- (302) 450-7233
Domain servers in listed order:
NS37.DOMAINCONTROL.COM
NS38.DOMAINCONTROL.COM
So there was a Beacon Redevelopment Corporation in Delaware, formed in 1964 and dissolved in 2001. Doesn't look like there's any relationship, but I don't know.
Entity Details File Number: 0606623 Incorporation Date / Formation Date: 01/20/1964
(mm/dd/yyyy)
Entity Name: BEACON REDEVELOPMENT CORPORATION
Entity Kind: CORPORATION Entity Type: GENERAL
Residency: DOMESTIC State: DE
Status: DISSOLVED Status Date: 10/10/2001
My bust, I should have made it clear that I was referring to a worst case scenario situation. I agree that it's less.
I've been lurking around Investorshub for a few months now, but I didn't post often.
I pay attention to stocks that have hit bottom. This one tweaks my antennas because I think I am reading between the lines as to what's going on.
I bought positions this week and am going to follow this closely.
5 billion shares = $500,000 market cap at .0001, not much.I wonder what this Mareck cat's gonna do about the share structure.
Anyone know what this Beacon is?
Agree with you 100 percent. The people who orchestrated this program, and who obviously plan to do it again with 25 billion shares authorized effective April 19, are beyond high school jokes. There seriously needs to be a shareholder revolt.
Has anyone done what I did and actually bought JMON stock?
I just paid $20 to Delaware! You're right! There's an authorized of 25 billion shares! At .01, that's $250,000,000!!!! I don't think it'll stay a penny if they plan on printing that many.
What are you doing to us Mr. Moffitt?
I had JMCP, lost big, and took a gamble and bought $1000 worth of JMON. Now I am not feeling so good.
Entity Details File Number: 3948352 Incorporation Date / Formation Date: 03/31/2005
(mm/dd/yyyy)
Entity Name: JAMES MONROE CAPITAL CORPORATION
Entity Kind: CORPORATION Entity Type: GENERAL
Residency: DOMESTIC State: DE
Status: AR DELINQUENT, TAX DUE Status Date: 03/02/2008
TAX INFORMATION
Last Annual Report Filed: 2006 Tax Due: $ 172,529.50
Annual Tax Assessment: $ 165,000.00 Total Authorized Shares: 25,020,000,000
REGISTERED AGENT INFORMATION
Name: DELAWARE CORPORATIONS LLC
Address: 800 DELAWARE AVENUE
City: WILMINGTON County: NEW CASTLE
State: DE Postal Code: 19801
Phone: (302)652-8400
FILING HISTORY (Last 5 Filings)
Seq Document Code Description No. of pages Filing Date
(mm/dd/yyyy) Filing Time Effective Date
(mm/dd/yyyy)
1 0240S Amendment; Stock 1 04/21/2008 14:21 04/21/2008
2 0240S Amendment; Stock 1 01/15/2008 10:25 01/15/2008
3 0240S Amendment; Stock 2 03/23/2007 12:00 03/23/2007
4 0240S Amendment; Stock 2 05/02/2006 14:55 05/02/2006
Former Name: COMMONWEALTH AMERICAN FINANCIAL GROUP, INC.
5 0151 Stock Designation 1 11/15/2005 14:36 11/15/2005
That's odd! The Delaware Secretary of State still has it listed as James Monroe Capital. There's been no merger on file or change of name!