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If anyone finds it strange that GGMC, UCHB, and MCDA/Tri-Star CEO"s were all in on this FBI/SEC sting together, it's because UCHB has been saying that they were going to sell gems and sapphires on GGMC'S non existent Home Shopping TV show and MCDA has been saying that they were going to be selling their bogus Bio-Skin line on GGMC. Of corse all 3 companies are SCAMS feeding off each other!
"that's all out of text, making assumptions"
If my post is "all out of text, making assumptions" feel free to point it out. What I posted was/is right from the SEC concerning the charges against Larry Wilcox!
Note the words "knowingly" in the SEC charges below!
Well try this "TRUE UCHB DD"; http://www.sec.gov/litigation/complaints/2010/comp-pr2010-187-wilcox.pdf
SECURITIES AND EXCHANGE COMMISSION, ) ) Plaintiff, ) v. ) ) ANTHONY MELLONE, ) ALEX PARSINIA, ) LARRY WILCOX, ) MACADA HOLDING, INC. f/k/a TRI-STAR HOLDINGS, INC., )
ZCOM NETWORKS, INC., and THE UC HUB GROUP,
E. The First UC Hub Restricted Stock Purchase and Kickback
48. As early as August 2008, Mellone introduced Wilcox to the cooperating witness as another individual who might be interested in the kickback scheme. Like Mellone and Parsinia, Wilcox sought investment entities willing to accept kickbacks in exchange for buying large amounts of his company’s stock.
49. Through a series of telephone calls with the cooperating witness in December 2008, Wilcox agreed to pay the trustee a kickback if the pension fund purchased more than 1.5 million restricted shares of UC Hub stock.
50. As before, the cooperating witness informed Wilcox the trustee owed a fiduciary duty to the pension fund, and there would be a problem if the Commission discovered the kickback. Wilcox agreed to mask the kickback by entering into a consulting agreement with Great Lakes. On December 7, 2008 UC Hub entered into the agreement.
51. On January 7, 2009, Wilcox met with Mellone and the cooperating witness in Fort Lauderdale to finalize the kickback scheme for UC Hub. Later that same day, pursuant to a subscription agreement, the fund purchased approximately 800,000 restricted shares of UC Hub common stock.
52. Five days later, the FBI wired $20,000 to UC Hub’s bank account. On January 22, 2009, UC Hub issued a stock certificate for the shares to the fund.
53. On January 30, 2009, Wilcox paid a kickback of $8,000 via direct deposit to Great Lakes’ bank account.
10
Case 1:10-cv-23609-JAL Document 1 Entered on FLSD Docket 10/07/2010 Page 11 of 15
54. Mellone accepted a $1,000 kickback from the cooperating witness for arranging this deal.
F. The Second UC Hub Restricted Stock Purchase and Kickback
55. Happy with the results from the first UC Hub scheme, Wilcox asked Mellone, the cooperating witness, and the agent to arrange another fraudulent deal.
56. On February 10, 2009, pursuant to a subscription agreement, UC Hub sold an additional 800,000 restricted shares of stock to the fund. On February 17, 2009, the FBI wired $20,000 to UC Hub’s bank account.
57. The next day, Wilcox paid a kickback of $8,000 via direct deposit to Great Lakes, and on February 19, 2009, UC Hub issued the stock certificate to the fund.
58. this deal.
59. Complaint.
Mellone accepted a $1,000 kickback from the cooperating witness for arranging
COUNT I Fraud In Violation of Section 17(a)(1) of the Securities Act
The Commission realleges and incorporates paragraphs 1 through 58 of its
60. use of the, means or instruments of transportation or communication in interstate commerce and by use of the mails, in the offer or sale of securities, as described in this Complaint, knowingly, willfully or recklessly employed devices, schemes or artifices to defraud.
61. By reason of the foregoing, the Defendants, directly and indirectly, violated and, unless enjoined, are reasonably likely to continue to violate, Section 17(a)(l) of the Securities Act, 15 U.S.C. §77q(a).
From May 2008 through March 2009, the Defendants directly and indirectly, by
11
Case 1:10-cv-23609-JAL Document 1 Entered on FLSD Docket 10/07/2010 Page 12 of 15
COUNT II Fraud in Violation of Section 10(b) and Rule 10b-5 of the Exchange Act
62. The Commission realleges and incorporates paragraphs 1 through 58 of its Complaint.
63. From May 2008 through March 2009, the Defendants, directly and indirectly, by use of the means and instrumentality of interstate commerce, and of the mails in connection with the purchase or sale of securities, knowingly, willfully or recklessly:
(a) employed devices, schemes or artifices to defraud; (b) made untrue statements of material facts and omitted to state material
facts necessary in order to make the statements made, in the light of
the circumstances under which they were made, not misleading; or (c) engaged in acts, practices and courses of business which have operated, are now operating and will operate as a fraud upon the
purchasers of such securities. By reason of the foregoing, the Defendants directly or indirectly violated and,
64. unless enjoined, are reasonably likely to continue to violate Section 10(b) of the Exchange Act, 15 U.S.C. § 78j(b), and Rule l0b-5, 17 C.F.R. § 240.
Remember the "new green technology for excavating precious metals" that Wilcox/UCHB touted back in 1/2009 for the SCAM Wickenburg mine the were buying from Mellone/TSHL.
If that wasn't FRAUD, what was it! Funny that it just "Disappeared" never to be heard about again!
WILCOX has been doing this for many years and getting away with it! I could care less if they through the book at him but he will probably just get a slap on the wrist!
Just Google "Wilcox Scam" for the mile long list!
" only the undercover solicitors, which to me is entrapment !!!"
It probably would be entrapment if the under cover people posing as pension fund managers, "hadn't" told them that they were paying-off corrupt pension fund managers, and getting kick backs.
Wilcox KNEW he was helping to defraud the pension fund investors.
Would you call someone who robbed a bank as entrapment? After all they have all that money just lying around enticing him to take it!
"Wilcox did this because he thought the pension fund was legit and this could lead to a long term relationship."
Not True! The SEC charges say he KNEW that the pension fund people were corrupt! No where do they say Wilcox thought the fund was legit!
The SEC state that: "he "knowingly" thought they were paying-off corrupt pension fund managers, stockbrokers, or promoters."
In other words he was "Knowingly" helping these pension fund managers etc. to defraud THEIR investors by buying 1.6Million shares of Restricted UCHB stock, at INFLATED prices, and giving them illegal KICK BACKS for buying UCHB Restricted stock.
See this document for the above info and more about the specific Wilcox charges; http://assets.bizjournals.com/cms_media/southflorida/pdf/Wilcox%20plea.pdf
Looks like WRGL is getting ready for it's next PD. UP several cents on no revenues, just HYPE!
Pink Sheets still has the WARNING sign "Unsolicited Quotations"
When you see the word “unsolicited” as part of a stock quotation page on a website such as the Pink Sheets (marked as “unsolicited”), you should be aware that the quote is not necessarily a market maker’s own quotation reflecting a price based on market conditions or current information about the company being quoted. Instead, it is a quotation that a market maker posts to reflect an unsolicited order by a customer. So, if you and anyone calls his or her broker, or places an on-line order for the stock – without the broker’s promotion of the stock to that individual – that order would be posted at the customer’s own designated price and marked as an “unsolicited” quotation. It is important to be aware that the individual placing such an order may not be relying on current information about the company – which is vitally important before making an informed investment decision. The individual may unwittingly be relying on bogus pricing and false promotional information from spam email or faxes. Worse yet the individual placing the order – while appearing as an unsolicited member of the general public – may actually be in league with the fraudsters. That’s frequently how the fraudsters get the public market started out of the blue, and how they are able to generate the appearance of investor interest and trading volume. So when you see the word “unsolicited” in reference to the quotation’s status, you should be cautious and find out whether there is current information about the company before you buy or sell the stock.
"and how do you like it now"
OH so true! Where are these PP guys now. I just hope they bough a boatload of GGMC but I have my doubts. They were probably just paid to P....!
"couldn't have happened to a better guy."
That should read "GUYS" to include the whole bunch of SCAMMERS but then there are literally thousands more just like them especially in PINKY LAND!
The one I was most glad that they caught was Anthony Mellone!
"The SEC claims Wilcox was trying to "generate the appearance of market interest in their respective companies"
I think the big fraud that Wilcox was involved in was that he "knowingly" thought they (Wilcox in his case) were paying-off corrupt pension fund managers, stockbrokers, or promoters.
In other words he was "Knowingly" helping these pension fund managers etc. to defraud THEIR investors by buying 1.6Million shares of Restricted UCHB stock, at INFLATED prices, and giving them illegal KICK BACKS for buying UCHB Restricted stock.
See this document for the above info and more about the specific Wilcox charges; http://assets.bizjournals.com/cms_media/southflorida/pdf/Wilcox%20plea.pdf
Pacer update 08 Oct 10 USA v. Mellone et al CRIMINAL DOCKET FOR CASE #: 0:10-mj-03352-WCT All Defendants
U.S. District Court
Southern District of Florida (Ft. Lauderdale)
CRIMINAL DOCKET FOR CASE #: 0:10-mj-03352-WCT All Defendants
Case title: USA v. Mellone et al
Date Filed: 09/28/2010
Assigned to: Magistrate Judge William C. Turnoff
Defendant (1)
Anthony Mellone
94597-004
YOB: 1957
represented by Noticing FPD-MIA
Email: MIA_ECF@FD.org
ATTORNEY TO BE NOTICED
Designation: Public Defender Appointment
Pending Counts
None
Highest Offense Level (Opening)
None
Terminated Counts
None
Highest Offense Level (Terminated)
None
Complaints
15:78F.F Securities Fraud
Assigned to: Magistrate Judge William C. Turnoff
Defendant (2)
Alex Parsinia
Pending Counts
None
Highest Offense Level (Opening)
None
Terminated Counts
None
Highest Offense Level (Terminated)
None
Complaints
15:78F.F Securities Fraud
Plaintiff
USA
represented by Ryan Dwight O'Quinn
United States Attorney's Office
99 NE 4 Street, 4th Floor
Miami, FL 33132
305-961-9145
Fax: 305-530-6168
Email: ryan.oquinn@usdoj.gov
ATTORNEY TO BE NOTICED
Date Filed # Docket Text
10/06/2010 9 $500,000.00 PSB Bond Entered as to Anthony Mellone. Approved by Magistrate Judge Ted E. Bandstra. Special Conditions: a. Surrender all passports and travel documents to the Pretrial Services Office;b. Report to Pretrial Services as directed;c. Submit to substance abuse testing and/or treatment as directed by Pretrial Services;g. Maintain or actively seek full-time employment;j. Refrain from possessing a firearm, destructive device or other dangerous weapons--within 7 days to relocate guns;k. None of the signatories may sell, pledge, mortgage, etc., any property they own, real or personal, until the bond is discharged;p. May travel to and from SD/FL and must notify Pretrial Services of travel plans before leaving and upon return.q. Comply with additional conditions of bond: The defendant shall not engage in or benefit from any penny stock transactions. The defendant is to maintain residence. (cg1) (Entered: 10/08/2010)
10/06/2010 8 Order on Initial Appearance as to Anthony Mellone for proceeding held on 10/6/2010. The parties stipulated to a $500,000 PSB cosigned by brother Joseph Mellone. Special Conditions: a. Surrender all passports and travel documents to the Pretrial Services Office;b. Report to Pretrial Services as directed;c. Submit to substance abuse testing and/or treatment as directed by Pretrial Services;g. Maintain or actively seek full-time employment;j. Refrain from possessing a firearm, destructive device or other dangerous weapons--within 7 days to relocate guns;k. None of the signatories may sell, pledge, mortgage, etc., any property they own, real or personal, until the bond is discharged;p. May travel to and from SD/FL and must notify Pretrial Services of travel plans before leaving and upon return.q. Comply with additional conditions of bond as to Anthony Mellone (1): The defendant shall not engage in or benefit from any penny stock transactions. The defendant is to maintain residence. Arraignment set for 10/20/2010 10:00 AM in Miami Division before Duty Magistrate. Preliminary Examination set for 10/20/2010 10:00 AM in Miami Division before Duty Magistrate. Signed by Magistrate Judge Ted E. Bandstra on 10/6/2010. (cg1) (Entered: 10/08/2010)
10/06/2010 7 Minute Entry for proceedings held before Magistrate Judge Ted E. Bandstra: Initial Appearance as to Anthony Mellone held on 10/6/2010. (Digital 14:00:28/14:32:25.) (Tape #10E-36.) (cg1) (Entered: 10/08/2010)
10/06/2010 6 Report Commencing Criminal Action as to Anthony Mellone - DOB: **/**/1957 Prisoner #: 94597-004 (cg1) (Entered: 10/08/2010)
10/06/2010 Arrest of Anthony Mellone (cg1) (Entered: 10/08/2010)
10/06/2010 5 ORDER UNSEALING as to Anthony Mellone, Alex Parsinia re 3 Complaint. Signed by Magistrate Judge Ted E. Bandstra on 10/6/2010. (cg1) (Entered: 10/08/2010)
09/28/2010 3 COMPLAINT, securities fraud, as to Anthony Mellone (1), Alex Parsinia (2). (cg1) (Entered: 10/08/2010)
09/28/2010 2 ORDER granting 1 Motion to seal as to Anthony Mellone (1), Alex Parsinia (2). Signed by Magistrate Judge William C. Turnoff on 9/28/2010. (cg1) (Entered: 10/08/2010)
09/28/2010 1 MOTION to seal by USA as to Anthony Mellone, Alex Parsinia. (cg1) (Entered: 10/08/2010)
https://ecf.flsd.uscourts.gov/cgi-bin/iquery.pl
http://siliconinvestor.advfn.com/readmsg.aspx?msgid=26876151
It looks like Alex Parsinia got caught in a sting operation by the FBI/SEC.
http://www.sec.gov/litigation/complaints/2010/comp-pr2010-187-wilcox.pdf
"He needs to have some sort of pr soon."
It takes a lot of TIME in order to CONCOCT a good UCHB story! lol
"If you have any sort of large position, I'd recommend talking to a securities lawyer."
Yep! Let the lawsuits begin!
UCHB has still not filed a material change form concerning appointing Andy Mercer as the new UCHB President.
We now have this for MCDA on the Pink Sheets site.
Macada Holding, Inc. MCDA
Pink Sheets Limited / Common Stock
Pink OTC Markets has discontinued the display of quotes on otcmarkets.com for this security because it has been labeled Caveat Emptor (Buyer Beware) and because adequate current information has not been made available by the issuer of the securities. It has been labeled Caveat Emptor for one of the following reasons:
Questionable Promotion — The security is being promoted to the public, but adequate current information about the issuer has not been made available to the public.
Spam — The security is the subject of spam promotion having the effect of encouraging trading of the issuer's securities.
Investigation of Fraud — There is a known investigation of fraudulent activity involving the company, its securities or insiders.
Suspension/Halt — A Regulatory Authority has halted or suspended trading for public interest concerns (i.e. not a news or earning halt).
Disruptive Corporate Actions — The security or issuer is the subject of corporate actions, such as reverse mergers or serial stocks splits and name changes, without adequate current information being publicly available.
Unsolicited Quotes — The security has only been quoted on an unsolicited basis since it entered the public markets and the issuer has not made adequate current information available to the public.
Other Public Interest Concern — There is, in Pink OTC Markets' view, a public interest concern.
Consequently, Pink OTC Markets has removed the quotes from this website until adequate current information is made available by the issuer pursuant to Pink OTC Markets Guidelines for Providing Adequate Current Information (PDF) and until Pink OTC Markets believes there is no longer a public interest concern. Investors are encouraged to use care and due diligence in their investment decisions. Please read our Investor Protection page for more information.
The problem is that MCDA has NOT picked out all of the rotten fruit. Steve Cohen has been with Mellone for years and is just as rotten! Then there is MCDA'S connection to the Astroms through Lyfetec who are so bad that there is an IH board just for their scams;
http://investorshub.advfn.com/boards/board.aspx?board_id=9024, A place for past, current and future Astrom victims to discuss.
What does Andy know about mining or running a business. I noticed on UCHB'S web site it just lists his name as President and no Bio.
Anyone have any info as to his abilities and bio????
Well they will have to clean out Cohen, Ron, and anyone else that is now associated with MCDA because the problem is, "when you sleep with the dogs you're gonna get fleas".
Personally I think this will go back to the .0001's again.
"Last month he announced the creation of a charitable fund with sales of some gems."
Where does it say he created the charity with sales of some gems? It says "his plans are to donate special gems and bracelets and pendants made from the precious gems that were created from those montana mines!
It also says; "Wilcox is currently in the process of getting non-profit status for the organization" so it is not yet approved.
My guess he is doing this to make him look better after being caught in the FBI/SEC sting! Gotta keep up that HOLLYWOOD image!
Wilcox also states; "The Gems for Gems project also plans to donate profits from special sales of the Montana sapphires to help fund youth activities."
Well the "special sales of the Montana sapphires" better be gems and sapphires that he personally bought and not the company's that are mentioned in the PR a few months ago since he is no longer a company officer.
The problem is that MCDA is still run by other CROOKS!
Cheers to a job well done!!
I remember some time back ikinkulu saying that Larry Wilcox was sick and might not recover.
Well I bet LW is sick but only because he got caught. And he may not recover financially!
It looks like Wilcox and Mellone got what they've been dishing out, only in a sting operation by the FBI and the SEC.
"liketotravel and overachiever (my fellow “Bashers”) – I have truly enjoyed your company. "
Same here but I think you did the most damage! We'll have to find a new scam to work on. lol
"You literally tell people to sell.....thats wrong!!! "
I responded;
"Where did I tell people to "sell", although with MCDA'S track record maybe they should sell!"
Still think it was "WRONG" to tell people to sell! Looks like you should have listened!
"Somehow I think a note saying the "CEO is no longer in charge" would be worth of an 8K filing or PR."
"You are right! That would be a "Material Change" and needs to be filed with the SEC"
This alone would be grounds for a lawsuit against UCHB/Wilcox by investors, let alone these other SEC charges!
Wilcox and Mellone are toast! Caught redhanded!
Let the lawsuits begin!!!!
"Attorney Letter with Respect to Current Information Jun 30, 2010 Sept 29, 2010
http://www.otcmarkets.com/otciq/ajax/showFinancialReportById.pdf?id=36987"
I hope MCDA/Mellone's attorney has a good attorney! lol
Did you not read this post of mine earlier today?
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=55285748
UCHB'S web site is now showing that Andy Mercer is President.
Is Andy Mercer the person UC Hub recently signed a promissory note for the amount of $300,000.00. It states; "This collateral, will give “Purchaser” his controls (i.e. super voting stock via Preferred A stock) of the company"
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=7302364
UC Hub recently signed a promissory note for the amount of $300,000.00. the terms of which are prime plus 1 due and payable in 12 months (with the option by the holder to extend the time).
Prior to the Maturity Date, Purchaser shall have a hold on the Preferred Shares of Larry Wilcox the CEO, as part of the collateral for the loan. This collateral, will give “Purchaser” his controls (i.e. super voting stock via Preferred A stock) of the company if the loan is not paid back in 12 months. This collateral of course, presently represents the voting control of the Company and its representative assets which as of today include in part, computers, equipment, stock, shareholder lists, the 8 Oil Wells in Illinois and said leases and the Rector drilling assignments which will be attached as Exhibits A (400 acre lease-2 wells) and B (80 acre lease w/ 6 wells) to this Agreement. Wilcox agrees that the voting stock cannot be altered, transferred or assigned to any other party without the written consent of the “Purchaser”. Notwithstanding the above, said Collateral and any encumbrances or liens on any direct or indirect collateral will be removed in full once the Loan is repaid in full by the “Maturity Date” or if extended by mutual consent in writing by both the “Purchaser” and the “Company” which shall be referred to collectively as “Parties”.
Terms: The Company shall issue to purchaser, upon executing this agreement 3 million shares of UC HUB Group Inc Common R-144 stock. The “Purchaser” will hereby invest $300,000 (“Loan Amount”) and has the right but not the obligation to invest up to $1 Million. Any additional investment beyond the said $300,000 initial “Loan Amount” by the “Purchaser” is at his sole discretion. Also, the Company, at its sole discretion, may accept or reject such further investment capital in the form of debt or equity. The “Purchaser” shall also be paid in perpetuity, a gross profit royalty of 5.25% as part of the consideration for the loan of $300,000. If the “Purchaser” decides to invest any additional capital and the Company, at its sole discretion decides to accept such capital, the formula would not exceed the established pro rata constants herein. Gross Profit is defined as the Gross Revenue minus the direct costs of mining. However, since direct costs can vary according to volume of raw ore processed, the “Parties” have agreed for purposes of calculating the Gross Profit, that direct costs deductions cannot exceed 2.5% of the gross revenue. If the costs exceed 2.5% of the gross revenue, then those additional costs are not applicable to the gross profit formula as the cost is capped at 2.5% of gross revenue. If the costs are less than 2.5% then the actual and specific direct costs are applied to define a gross profit. In other words, if the costs were only 2% that would be the limit of the deduction from gross revenue, resulting in a gross profit of which the 5.25% would be applied. Therefore, the direct costs may vary and may go down and the direct costs may go up, however, if they direct costs do go up, the direct cost is capped at 2.5% of gross revenue. Each year the actual direct cost may vary and be dynamic and that specific direct cost will be the applicable formula for gross profit and the net royalty fee to be paid for the debt instrument herein. For purposes of this agreement, Net Royalty and Gross Profit are collectively defined as a royalty after actual Direct Costs are deducted. Direct Costs shall be defined as, actual mining costs, which are the day to day costs of mining gold and sapphires like direct costs for Generator Fuel, hauling, direct labor, permits. These “direct costs” are directly related wit
"and former CEO larry got shafted"
No he was giving the investors the "SHAFT".
Please read the SEC Complaint!
"NOT A SCAM. Hang on to your shares."
OH, REALLY!
What do you have to say now!
"Why do people hate Larry so much?"
This should make you a believer now. Next time you better believe those UCHB Blogs that you claimed were fake and full of lies!
I just hope the FBI/SEC will go back and check out all their other scams that they have pulled over the years, add them all up and put them away for good!
Same here. I've been sending complaints to the SEC Fraud Division for several years about UCHB/Wilcox and MCDA/Mellone.
I wonder where all the their cohorts are now!
"I reassure you LW is out"
UCHB'S web site is now showing that Andy Mercer is President.
Is Andy Mercer the person UC Hub recently signed a promissory note for the amount of $300,000.00. It states; "This collateral, will give “Purchaser” his controls (i.e. super voting stock via Preferred A stock) of the company"
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=7302364
UC Hub recently signed a promissory note for the amount of $300,000.00. the terms of which are prime plus 1 due and payable in 12 months (with the option by the holder to extend the time).
Prior to the Maturity Date, Purchaser shall have a hold on the Preferred Shares of Larry Wilcox the CEO, as part of the collateral for the loan. This collateral, will give “Purchaser” his controls (i.e. super voting stock via Preferred A stock) of the company if the loan is not paid back in 12 months. This collateral of course, presently represents the voting control of the Company and its representative assets which as of today include in part, computers, equipment, stock, shareholder lists, the 8 Oil Wells in Illinois and said leases and the Rector drilling assignments which will be attached as Exhibits A (400 acre lease-2 wells) and B (80 acre lease w/ 6 wells) to this Agreement. Wilcox agrees that the voting stock cannot be altered, transferred or assigned to any other party without the written consent of the “Purchaser”. Notwithstanding the above, said Collateral and any encumbrances or liens on any direct or indirect collateral will be removed in full once the Loan is repaid in full by the “Maturity Date” or if extended by mutual consent in writing by both the “Purchaser” and the “Company” which shall be referred to collectively as “Parties”.
Terms: The Company shall issue to purchaser, upon executing this agreement 3 million shares of UC HUB Group Inc Common R-144 stock. The “Purchaser” will hereby invest $300,000 (“Loan Amount”) and has the right but not the obligation to invest up to $1 Million. Any additional investment beyond the said $300,000 initial “Loan Amount” by the “Purchaser” is at his sole discretion. Also, the Company, at its sole discretion, may accept or reject such further investment capital in the form of debt or equity. The “Purchaser” shall also be paid in perpetuity, a gross profit royalty of 5.25% as part of the consideration for the loan of $300,000. If the “Purchaser” decides to invest any additional capital and the Company, at its sole discretion decides to accept such capital, the formula would not exceed the established pro rata constants herein. Gross Profit is defined as the Gross Revenue minus the direct costs of mining. However, since direct costs can vary according to volume of raw ore processed, the “Parties” have agreed for purposes of calculating the Gross Profit, that direct costs deductions cannot exceed 2.5% of the gross revenue. If the costs exceed 2.5% of the gross revenue, then those additional costs are not applicable to the gross profit formula as the cost is capped at 2.5% of gross revenue. If the costs are less than 2.5% then the actual and specific direct costs are applied to define a gross profit. In other words, if the costs were only 2% that would be the limit of the deduction from gross revenue, resulting in a gross profit of which the 5.25% would be applied. Therefore, the direct costs may vary and may go down and the direct costs may go up, however, if they direct costs do go up, the direct cost is capped at 2.5% of gross revenue. Each year the actual direct cost may vary and be dynamic and that specific direct cost will be the applicable formula for gross profit and the net royalty fee to be paid for the debt instrument herein. For purposes of this agreement, Net Royalty and Gross Profit are collectively defined as a royalty after actual Direct Costs are deducted. Direct Costs shall be defined as, actual mining costs, which are the day to day costs of mining gold and sapphires like direct costs for Generator Fuel, hauling, direct labor, permits. These “direct costs” are directly related with the day to day mining operation and are a common term used in General Accounting Principles and in good faith.
http://www.uchub.net/
"UCHUB donates some gems to charity. That would obviously mean there is some production."
Obviously you missed this from from UCHB'S June 23, 2010 blog (below) about the fact that they "BOUGHT" sapphires from others in the area, NOT UCHB PRODUCTION!
http://www.uchub.blogspot.com/
"The Company has bought certain production of sapphires from the Missouri River (El Dorado Bar) area and now has over 10,000 carats as of this date to kick start our efforts so we do not lose time. We have been given a price list that shows $600 per carat as wholesale pricing of good stones (AA and AAA) one carat or larger. The Company then paid an expert to grade and separate out the non-cuttables and divide these sapphires into various carat divisions from less than one carat up to 12 carats."
Also this from UCHB'S April 30, 2010 10-Q.
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=7311855
INVESTING ACTIVITIES Gem Stones (30,000)
So it looks like they bought $30,000 worth of rough gems.
"New website?"
Does it matter? I don't see tri-star gold listed under MCDA'S subsidiary list any more.
Also if you click on any of the items on that site, it sends you to other sites like amazon, ebay, etc. to buy the items.
What I noticed about Wilcox was the words; "He managed" which is "past tense", not "He Manages" a mine. The Gems are probably those he got from other Montana mines that they PR'ed about some time back.
Did anyone see any mention of the home shopping TV show in todays MCDA PR?
I also noticed this in todays PR; "Lyfetec's continued focus will be in the manufacturing of the Bio-Skin line, launching this month's Internet sales with the first two: eye cream and serum."
This is "ONE" product, not "two" as described above. It's "Under Eye Serum" not "eye cream and serum".
From their website; http://www.bio-skin.us/product_under_eye.html
Purchase Bio-Skin Products
Speicially Formulated
Under Eye Serum
Here is a report (see link below) of a person that required 5 days of hospitalization after using Regividerm which is MCDA'S Bio-Skin B12 cream listed on the Bio-Skin website. So much for the safety of Bio-Skin.
http://translate.google.com/translate?js=n&prev=_t&hl=en&ie=UTF-8&layout=2&eotf=1&sl=de&tl=en&u=http%3A%2F%2Fkindersprechstunde.wordpress.com%2F2010%2F10%2F04%2Fkrankenhausreif-nach-5-tagen-regividerm®%2F
Vitamin B12 cream-induced severe dermatitis requiring hospitalization.
The abstract of a case report from a dermatological journal:
“Toxic Dermatitis and Worsening of a Chronic Plaque Psoriasis After Treatment with a Vitamin B(12) Ointment Containing Avocado Oil
T. Glaenz, L. Bröhl, U. Amon
PsoriSol-Klinik für Dermatologie & Allergologie, Hersbruck
Akt Dermatol 36(7): 278-280 (2010)
Vitamin B(12) ointment containing avocado oil was praised as nearly free from side effects for the treatment of psoriasis or atopic dermatitis in the German telecast.
We report on a 43-years-old patient with chronic plaque psoriasis who used the ointment for about five days. Rapid worsening of the treated areas occurred.
At the day of admission we saw an erosive weeping dermatitis on the limbs.
Routine blood samples were negative, histological findings revealed an irritated psoriasis with spongiosis and exoserosis. Under an initial systemic antibiotic therapy, local disinfection and topical corticosteroid treatment followed by the use of calcitriol, phototherapy and a short time oral therapy with methotrexate it came to a rapid improvement. Our case shows that in contrast to the report in the telecast Regividerm® has a risk for the development of considerably strong side effects such as local toxic contact dermatitis.”
"We intend to double the company's revenue by the end of the 4th quarter"
Notice they say; "We INTEND to double the company's revenue" instead of mentioning any PROFIT.
You can have a million dollars in revenue but if your expenses are over a million, what good is that?
Also notice that they don't say just where this revenue is expected from. If it's supposedly going to come from their Bio-Skin creams, well good luck with that!!
Triforce, I don't see anything new here.
It looks to me like the "Period End Dates" are still the same as before. It seems all they did was change the Received Dates!
Attorney Letter with Respect to Current Information Jun 30, 2010 Sept 29, 2010
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Semi-Annual Report - 2008 -2009 Financials Dec 31, 2009 Sept 29, 2010
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Initial Company Information and Disclosure Statement Jun 30, 2010 Sept 29, 2010