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Sorry g! but I don't believe you. You have no credibility.
Bonnie- I enjoyed your 'explanation' of the factions (a better word perhaps than 'contingents') posting here. Note that Acs has essentially lost his battle with the SEC by default. The self-described 'billionaire' couldn't afford an attorney and in civil matters one is not appointed by the court to defend him. But he'll likely just get the traditional wrist slapping and a penny-stock ban for all that.
I expect that the SEC will want to look quite closely now at TLXX, and I hope that they start issuing subpoenas to all of the players--Acs, Munden, Ali, Mataras, Miller, Reid, Samaroo, etc.--anyone who has held a directorship in Telynx. Frankly, I believe that trading in TLXX should be halted until it's all sorted out.
Well g!, the fan is getting rather crusty from all that excrement you've hurled. I can't believe you spun the SEC's autoresponse to a complaint submitted on their website as you did. Why don't you post the text of your complaint here so we can see your side of the story?
What happened to Miller, Reid, Samaroo, et al, eh? Why no statement from the former "directors"?
I've never seen individuals take on the liabilities of a corporation like this. It should be very interesting to see how they deal with the Grins, who hold a sizable portion of Telynx debt and still have conversion rights.
What do you not understand about the word 'disposition'?
The filing is describing the assets that were purchased by Mataras and Safadi.
The company apparently no longer owns anything.
Say duh! LOL!
eliaman- That's a list of the assets that were purchased by Mataras and Safadi in return for $10 cash and assumption of the liabilities. Do you understand what the word 'disposition' means? Say duh!
As I understand the Sale of Business agreement
(see previous post and also available at the SEC website
http://www.sec.gov/Archives/edgar/data/852164/000121465904000260/ex99a.txt )
Mataras and Safadi have purchased the assets and assumed the liabilities of Telynx Inc. PERSONALLY. As such, the Telynx corporation is now apparently an empty shell, with no business, assets or liabilities.
Mataras and Safadi now own 89% of the TLXX shares and control the company, but it's not at all clear how the remaining holders of common shares own anything but a shell.
Is this just sloppy legal work? I'm not an attorney, but this looks like amateur hour to me.
SALE OF BUSINESS AGREEMENT
1. This agreement ("AGREEMENT"), made this 25th day of March, 2004 at Los
Angeles, California, by and between Paul Mataras, an individual at
11931 Goshen Avenue #6, Los Angeles, California 90049, and Talieh
Safadi, an individual at 11931 Goshen Avenue #6 Los Angeles, California
90049 (hereinafter collectively known as "the BUYERS"), and Telnyx,
Inc., a Delaware corporation, principal place of business at 6006 North
Mesa Street. Suite 600, El Paso, Texas, 79912, FEIN # 94-3022377,
hereinafter known as "SELLER." The parties agree, as follows:
SALE OF ASSETS
2. Assets. SELLER will sell to BUYERS the following assets:
3. Cash. SELLER warrants that SELLER has no cash assets.
4. Real Estate. SELLER warrants that SELLER has no real estate assets.
5. Equipment. All machinery, equipment, office equipment, computer
hardware and software, tools, supplies, parts, furniture, fixtures, and
all other assets of a similar character owned by SELLER and used in the
business.
6. Inventory. All inventory held as of the Agreement date.
7. Contracts. All of SELLER's contracts.
8. Miscellaneous Assets. All other assets or properties of SELLER relating
to the business and in existence on the Agreement date, including but
not limited to, customer lists, sales and purchase records, office
records, licenses, permits, other rights granted by governmental
agencies, trademarks, trade names and logos, copyrights, patents,
goodwill, know-how, processes, corporate book, and supplies.
PURCHASE PRICE
9. Purchase Price. BUYERS will pay ten dollars ($10.00) for the
assets, in cash, at the signing of this Agreement.
ACCOUNTS RECEIVABLE
10. Accounts Receivable. SELLER's accounts receivable are being purchased
by BUYERS.
11. SELLLER Warranty. SELLER warrants that the accounts receivable are
valid.
12. Collection. BUYERS will collect and retain SELLER's accounts
receivable.
1
<PAGE>
ASSUMPTION OF LIABILITIES
13. Assumption. BUYERS will assume all liabilities of SELLER, including but
not limited to, Internal Revenue Service and Department of Labor.
SELLER'S EMPLOYEES
14. Employees. BUYERS have no obligation to employ SELLER's present or
former employees, but may do so.
COVENANT NOT TO COMPETE
15. Period. Beginning on the Agreement date and for a period of one year,
SELLER will not directly or indirectly engage in any business similar
to the type of business involved in this transaction, or solicit
business from any of SELLER's customers.
16. Amount. The consideration for this non-compete covenant is already
included in the purchase price described above in Paragraph 9.
TAXES
17. Taxes. BUYERS will be responsible for the payment of all taxes which
are payable in connection with the sale of assets.
BULK SALES LAW COMPLIANCE
18. Compliance. SELLER will furnish to BUYERS a complete list of existing
creditors, with the amounts due to each, and agrees to cooperage with
BUYERS in all matters related to notice to such creditors in accordance
with the provisions of the Uniform Commercial Code.
ANNOUNCEMENTS
19. Cooperation. The parties will cooperate with each other in announcing
this transaction.
20. Notification. SELLERS will cooperate with BUYERS in notifying key
customers and vendors in person and through written correspondence.
ITEMS TO BE DELIVERED AT CLOSING
21. Complete Possession. At the signing of this Agreement, SELLER will
perform all acts necessary to put BUYERS in actual and complete
possession and ownership of the assets, including providing the
following documents:
22. Intellectual Property. Assignment of patents, trademarks, trade names,
copyrights, contracts, leases.
23. Authorization. Evidence that all necessary corporate proceedings of
SELLER have been taken to authorize the transaction.
2
<PAGE>
24. Storage Unit. Bill of sale, or evidence that the contents of the
storage unit are the lawful property of SELLER, or documentation
allowing BUYERS to assume control of the storage unit.
FURTHER ASSURANCES
25. Cooperation. SELLER will, from time to time after the closing, at
BUYER's request, and without further consideration, provide such other
instruments as BUYERS may reasonably require to more effectively convey
to BUYER good and marketable title and possession to the assets,
including the name of the business.
REPRESENTATIONS OF SELLER
26. Representations. SELLER represents and warrants to BUYERS the
following:
27. Good Standing. SELLER is validly organized, in good standing, and
operates with all necessary authority.
28. Legally Binding. This Agreement is legally binding against SELLER.
29. No Violations. The execution and performance of this Agreement will not
violate SELLER's organizational documents or any of SELLER's
agreements, including loans.
30. Transfer of Title. At the signing of this Agreement, SELLER will
transfer good and marketable title to the assets.
31. Material Statements. No statement, representation or warranty by SELLER
in the Agreement or in any document delivered in connection with this
sale contains any untrue or misleading statement of material fact.
There is no information which would have a material adverse effect on
the assets or the business which has not been disclosed to BUYER in
writing.
REPRESENTATIONS OF BUYERS
32. Good Standing. BUYERS are validly organized, and in good standing.
33. Legally Binding. This Agreement is legally binding against BUYERS.
34. No Violations. The execution and performance of this Agreement will not
violate BUYER's organizational documents.
35. No Pending Claims. There is no legal claim pending or threatened
against BUYERS which might have an adverse effect on this transaction.
3
<PAGE>
EXPENSES
36. Expenses. BUYERS and SELLER will each pay their respective expenses in
connection with this transaction.
RISK OF LOSS
37. Risk of Loss. All risk of loss to the assets will remain with SELLER
until the signing of this Agreement. If a material loss of the assets
occurs prior to the signing of this Agreement, BUYERS have the right to
terminate this Agreement.
NOTICE
38. Notice. Any notice required by either party to be given to the other
will be in writing addressed to the other party at its above address,
and deemed given when personally delivered or three (3) days after it
is mailed.
SUCCESSORS AND ASSIGNS
39. Binding. This Agreement will be binding on the successors and assigns
of the parties.
CONSTRUCTION
40. State Law. This Agreement will be governed by the laws of the State of
California. If any provision of this Agreement is ineffective, the
other provisions are not affected.
COUNTERPART/TELEFAX SIGNATURES
41. Counterparts. This Agreement may be executed in counterparts, and may
be accepted by sending an executed copy of the signature page by
telefax if the original is also mailed on the same date.
ENTIRE AGREEMENT
42. Entire Agreement. This Agreement contains the entire agreement of the
parties with respect to the subject matter and cannot be modified
unless in writing and signed by all the parties.
43. Effective Date Of Agreement. The effective date of this AGREEMENT will
be the date when executed by the parties.
IN WITNESS WHEREOF, the parties hereto have set their hands to this
AGREEMENT and execute it on this 25th day of March, 2004, at Los Angeles,
California.
TELYNX TELYNX
/s/ Ali Al-Dawhi /s/ Scott Munden
------------------------------ ------------------------------
By: Ali Al-Dawhi, Chairman By: Scott Munden, Director
Date: March 30, 2004 Date: April 7, 2004
/s/ Paul Mataras /s/ Talieh Safadi
------------------------------ ------------------------------
By: Paul Mataras By: Talieh Safadi
Date: March 30, 2004 Date: March 30, 2004
AnswerMan- Start with the SEC filings. Do you know how to read 'em? Pay particular attention to the most recent SB-2 filings which contain the most in-depth disclosure. The company went dormant some time ago--about the time the filings stopped. Last year we saw a series of press releases issued through Free and Clear Press Corps about a 'new' board of directors. It turns out that most if not all of those releases may have been criminally fraudulent. The 8k filing issued this week will give you the present status of the company.
The truth gets the last word, mmayr. I know it and you don't seem to want to know it.
I tried to tell you, but like most stucks you don't want to hear anything that doesn't fit your fantasy.
You didn't answer my question about whether you understood that the moat recent 8K filing--the first in a long time--essentially negates almost all of the press releases issued during the time that Acs posed as the controlling shareholder of the corporation. Do you understand this?
Do you also understand the agreement that is attached to the filing as an exhibit? What does it say, mmayr? Tell us please in your own words.
The truth will set you free. LOL!
Don't like the message? Attack the messenger of course. Nanuck knows much more about this stock and what is really going on than you do mmayr. You suggested that the new management run a pumpadump, and them's fightin' words to those of us who would see some integrity in the markets.
Just in case you haven't realized it yet, you've been had; and so has everyone else, especially those you know as the 'new' board of directors for TLXX. Did you read the 8K filing by Mataras? Do you understand the transaction that gives him and a California filmmaker control of Telynx' assets?
Wake up mmayr...the Penny King's fraudulent reign is over.
The press release said they intend to hire programmers to continue the old efforts, but it may be too little too late for such a fast moving marketplace. Anyway, the release was so 'puffy' that I'm skeptical about Mataras' ability as a CEO, and so I'll believe it when I see it. First I want to see action taken against Acs for the phony press releases. The current action essentially negates 9 months of PR orchestrated under Free and Clear Press Corps. What of all the (ahem) interim board members? Too many questions and the PR in the 8K started out with hype, so I'm not impressed.
Which of these documents would you believe?
Telynx Restructures and Names
New President/CEO
(Sherman Oaks, CA April 12, 2004) The Board of Telynx is proud to
announce that the company has undergone a major restructuring by moving its
corporate headquarters to Sherman Oaks, California and has named Paul
Mataras as its new President/CEO effective immediately.
"With its new SEC filing in place and starting to build a new
management team, Telynx is positioning itself, yet again, to become a
significant force in the telecommunications industry and will continue to
trade with the symbol (TLXX). However, the stock's vacillation has been
quelled by the company's recent restructuring," assures Mataras, who
formerly served as the corporate secretary of Telynx.
Telynx is a global 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
http://www.sec.gov/Archives/edgar/data/852164/000121465904000260/ex99b.txt
Free and Clear Press Corps: Telynx Inc. announces termination of corporate secretary
Oakland California, Mar 30, 2004 (M2 PRESSWIRE via COMTEX) -- Telynx. Inc., formerly Cambio, Inc., a publicly traded company quoted on the pink sheets under the symbol TLXX.PK, has announced that effective March 20th, 2004 Paul Mataras has been terminated as the Corporate Secretary by order of the Board of Directors and the controlling stockholders.
All correspondence regarding Telynx, Inc. business matters should be addressed to Gabor S. Acs, Interim Chairman and CEO Phone: 510-652-1840 Email: thepennyking@sbcglobal.net 625 Rabbit Ridge Court Reno, Nevada 89511
CONTACT: Gabor S. Acs, Chairman and CEO Tel: +1 510 652 1840 e-mail: thepennyking@sbcglobal.net
http://www.pinksheets.com/quote/news.jsp?url=fis_story.asp%3Ftextpath%3DCOMTEX%5Cmt%5C2004%5C03%5C30....
UNITED STATES
SECURITIESANDEXCHANGECOMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): March 30, 2004
TELYNX, INC.
------------------------------------------------------
(Exact name of registrant as specified in its charter)
13520 Rye Street, Suite 105, Sherman Oaks, California 91423
-----------------------------------------------------------
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (415) 812-0518
Former address - 6006 N. Mesa Suite 600. El Paso, TX 79912
-----------------------------------------------------------
(Former name or former address, if changed since last report)
Item 1. Changes in Control of Registrant.
(a) A change in control of the registrant has occurred. Paul Mataras
and Talieh Safadi have purchased Telynx, Inc. ("Telynx"), its
assets and liabilities for the sum of $10.00. Telynx
director/CEO/Chairman Ali Al-Dawhi, and director/president Scott
Munden have agreed on the sale on behalf of Telynx. All parties
have signed the purchase agreement ("Purchase Agreement") on or
about March 30, 2004 with the exception of Ali Al-Dawhi, who is
out of the country and not available for several weeks. He has
not been able to fax his signature. Al-Dawhi has given Scott
Munden power of attorney to sign the Purchase Agreement on his
behalf (see EXHIBIT A).
Safadi and Mataras are receiving 45,000 preferred C class stocks
each, and the assumption of the liabilities, including debts owed
to the Internal Revenue Service and the Department of Labor.
Scott Munden has placed in escrow 7,500,000 common A stock
tradable shares to assist in the payment of Telynx's IRS
liability. Ali Al-Dawhi has placed in escrow 22.5 million common
A Stock tradable shares to assist in the payment of Telynx's IRS
liability.
1
<PAGE>
Previous to the sale and Purchase Agreement, Al-Dawhi and Munden
held approximately 92% of the shares. Mataras and Safadi now
control approximately 89% of the shares.
(b) There are no arrangements, known to the registrant, including any
pledge by any person of securities of the registrant or any of
its parents, the operation of which may at a subsequent date
result in a change in control of the registrant.
Item 2. Acquisition or Disposition of Assets.
(a) The cash consideration for the sale is $10.00. However, Mataras
and Safadi have agreed to take on 4.8 million dollars in
liabilities and debt for the controlling shares of Al-Dawhi and
Munden. There is no material relationship between the registrant
Mataras/Safadi and Al- Dawhi/Munden/Telynx or any of its
affiliates, or directors/officers.
The assets of Telynx consist of, including, but not limited to,
the intellectual property, the vendor list, and the company
accounts receivable.
(b) Telynx, Inc. is a Delaware Corporation whose current principal
place of business has changed from El Paso, Texas to Sherman
Oaks, California. Telynx was dormant for approximately one year
with little activity. It is the intention of Mataras and Safadi
to build up the company by settling the liabilities and debts of
Telynx, which include the Internal Revenue Service and the
Department of Labor, and hiring software engineers to create an
updated version of the signature software (see EXHIBIT B).
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
TELYNX, INC
----------------
(Registrant)
Date April 9, 2004
/s/ Paul Mataras
------------------------------
Paul Mataras, President & CEO
http://www.sec.gov/Archives/edgar/data/852164/000121465904000260/a410418k.txt
UNITED STATES
SECURITIESANDEXCHANGECOMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): March 30, 2004
TELYNX, INC.
------------------------------------------------------
(Exact name of registrant as specified in its charter)
13520 Rye Street, Suite 105, Sherman Oaks, California 91423
-----------------------------------------------------------
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (415) 812-0518
Former address - 6006 N. Mesa Suite 600. El Paso, TX 79912
-----------------------------------------------------------
(Former name or former address, if changed since last report)
Item 1. Changes in Control of Registrant.
(a) A change in control of the registrant has occurred. Paul Mataras
and Talieh Safadi have purchased Telynx, Inc. ("Telynx"), its
assets and liabilities for the sum of $10.00. Telynx
director/CEO/Chairman Ali Al-Dawhi, and director/president Scott
Munden have agreed on the sale on behalf of Telynx. All parties
have signed the purchase agreement ("Purchase Agreement") on or
about March 30, 2004 with the exception of Ali Al-Dawhi, who is
out of the country and not available for several weeks. He has
not been able to fax his signature. Al-Dawhi has given Scott
Munden power of attorney to sign the Purchase Agreement on his
behalf (see EXHIBIT A).
Safadi and Mataras are receiving 45,000 preferred C class stocks
each, and the assumption of the liabilities, including debts owed
to the Internal Revenue Service and the Department of Labor.
Scott Munden has placed in escrow 7,500,000 common A stock
tradable shares to assist in the payment of Telynx's IRS
liability. Ali Al-Dawhi has placed in escrow 22.5 million common
A Stock tradable shares to assist in the payment of Telynx's IRS
liability.
1
<PAGE>
Previous to the sale and Purchase Agreement, Al-Dawhi and Munden
held approximately 92% of the shares. Mataras and Safadi now
control approximately 89% of the shares.
(b) There are no arrangements, known to the registrant, including any
pledge by any person of securities of the registrant or any of
its parents, the operation of which may at a subsequent date
result in a change in control of the registrant.
Item 2. Acquisition or Disposition of Assets.
(a) The cash consideration for the sale is $10.00. However, Mataras
and Safadi have agreed to take on 4.8 million dollars in
liabilities and debt for the controlling shares of Al-Dawhi and
Munden. There is no material relationship between the registrant
Mataras/Safadi and Al- Dawhi/Munden/Telynx or any of its
affiliates, or directors/officers.
The assets of Telynx consist of, including, but not limited to,
the intellectual property, the vendor list, and the company
accounts receivable.
(b) Telynx, Inc. is a Delaware Corporation whose current principal
place of business has changed from El Paso, Texas to Sherman
Oaks, California. Telynx was dormant for approximately one year
with little activity. It is the intention of Mataras and Safadi
to build up the company by settling the liabilities and debts of
Telynx, which include the Internal Revenue Service and the
Department of Labor, and hiring software engineers to create an
updated version of the signature software (see EXHIBIT B).
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
TELYNX, INC
----------------
(Registrant)
Date April 9, 2004
/s/ Paul Mataras
------------------------------
Paul Mataras, President & CEO
Sorry, but I believe you are Gabor S. Acs posing as a naive newbie. It's a lame disguise, g!
I think criminals should be caught, tried and punished if found to be guilty. Peace and enlightenment has nothing to do with stock fraud.
So which of these documents would you believe?
Telynx Restructures and Names
New President/CEO
(Sherman Oaks, CA April 12, 2004) The Board of Telynx is proud to
announce that the company has undergone a major restructuring by moving its
corporate headquarters to Sherman Oaks, California and has named Paul
Mataras as its new President/CEO effective immediately.
"With its new SEC filing in place and starting to build a new
management team, Telynx is positioning itself, yet again, to become a
significant force in the telecommunications industry and will continue to
trade with the symbol (TLXX). However, the stock's vacillation has been
quelled by the company's recent restructuring," assures Mataras, who
formerly served as the corporate secretary of Telynx.
Telynx is a global 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
http://www.sec.gov/Archives/edgar/data/852164/000121465904000260/ex99b.txt
Free and Clear Press Corps: Telynx Inc. announces termination of corporate secretary
Oakland California, Mar 30, 2004 (M2 PRESSWIRE via COMTEX) -- Telynx. Inc., formerly Cambio, Inc., a publicly traded company quoted on the pink sheets under the symbol TLXX.PK, has announced that effective March 20th, 2004 Paul Mataras has been terminated as the Corporate Secretary by order of the Board of Directors and the controlling stockholders.
All correspondence regarding Telynx, Inc. business matters should be addressed to Gabor S. Acs, Interim Chairman and CEO Phone: 510-652-1840 Email: thepennyking@sbcglobal.net 625 Rabbit Ridge Court Reno, Nevada 89511
CONTACT: Gabor S. Acs, Chairman and CEO Tel: +1 510 652 1840 e-mail: thepennyking@sbcglobal.net
http://www.pinksheets.com/quote/news.jsp?url=fis_story.asp%3Ftextpath%3DCOMTEX%5Cmt%5C2004%5C03%5C30...
And the same as you tipitom...
You can run, but you can't hide.
tipitom- Mr. Gabor is likely you...
...so reach between your legs and give a little squeeze. LOL!
thepennyking has been missing on IHUB since April 7. The Mataras 8K filing today would imply that most of the last series of press releases for TLXX have been fraudulent.
You've been told many times before.
Messiahs pointed to the door.
No one had the guts to leave the temple.
--Pete Townshend.
Inquiry? The SEC filed suit against Acs and Penny King Holdings Inc. The court has already granted a default judgement against the corporation and the SEC has filed a motion for a summary judgement against Acs. I expect it will be granted. That will get him a hefty fine, and a penny stock bar. He probably can't afford a fine.
IMO, his failed play with TLXX is going to get him some time away from honest citizens and he can work on the sequel to his 'Confessions of a Sex Crazed Moneyman'.
I still want to know how Miller and the other board members were elected. I suspect they were 'placed' by Acs and it's completely possible that there is NO legitimate board of directors here at all. In such an event, I think the company gets an interim board appointed by the Chancery Court in Delaware, until a proper election can be held.
LOL! No love lost between Essary and Miles, is there? I wonder which of Our-Street's expose's Investrend considers to be 'baseless'.
Essary (Investrend CEO) isn't so squeaky clean himself, you know...
Reuters
May 24, 2001
Web firm dispute reopens news hoax concerns
By Daniel Sorid
NEW YORK, May 24 (Reuters) - Business Wire, one of the largest distributors of corporate announcements, has been snagged by a bitter internal conflict at a tiny New York technology company in a dispute that rings of the press release hoax last year involving Emulex Corp.
On Monday, San Francisco-based Business Wire published a statement from Streamedia Communications Inc., whose stock is traded on the Nasdaq for just 23 cents, declaring the ``expiration'' of its chief executive's term and the return of its one-time chairman.
Business Wire published a second release on Wednesday from the company, a Web services provider, claiming the first release had been unauthorized and contained ``significant misrepresentations of important facts'' concerning Streamedia.
The first release was authorized by Streamedia's former chairman, Gayle Essary, and the second by the chief executive, Henry Siegel.
On March 12, Streamedia released a statement that said its board had terminated Essary as director and vice president of the company, effective March 9, ending his involvement with Streamedia.
Business Wire President Larry Lokey said it has now banned the company from its service until the power struggle between Essary and Siegel has been settled. It is also investigating the matter, Lokey said.
But the fact that two contradictory releases from the same source remain on the record has troubled some experts on the media.
``It sounds like there should have been a lot more security at that level,'' Sreenath Sreenivasan, a professor of new media at the Columbia University Graduate School of Journalism, said. ``You expect it to be true if it's on a press release.''
Meanwhile, Lokey said Business Wire has policies in place to keep illegitimate releases off its wire, but that it cannot, ultimately, be held responsible for the absolute veracity of each release.
``We provide the rough news,'' he said. ``The news media then receive it and then they verify it.''
But even a single false press release can have brutal consequences, as the Emulex scandal showed.
In August of last year, a 23-year-old college student staged one of the largest Internet financial hoaxes by issuing a false press release over Internet Wire, a minor player in the distribution of media releases.
The stock of Emulex, a technology company traded on the Nasdaq, tanked after the release was picked up by several news wires, and many investors took major losses as a result. The student, Mark Simeon Jakob, netted hundreds of thousands of dollars in profits.
The student pleaded guilty to manipulating the stock in December.
But the scandal led to questioning about the validity of the system of issuing press releases through third parties. News wire services and other media outlets rely on press releases as a major source of news, and investors regularly buy and sell stock based on a media release's statement.
In the Streamedia dispute, the Monday press release from the company stated that Essary ``has returned'' to facilitate an ongoing merger ``following the expiration of the term of Interim President/CEO Henry Siegel.'' That press release was written by Essary.
Siegel, who in a recent company filing to U.S. regulators was listed as the CEO, said Essary lacked any authority to speak for the company in a press release. Essary, in an interview, said he was authorized to issue the release.
Business Wire's Lokey summed it up this way: ``It's the 'he said, she said' type of thing. We are a middle man carrier.''
http://sree.net/quotes/reutershoax.html
According to a Press Release dated June 5, 2001, a class action lawsuit was filed against Streamedia Communications Inc. The complaint alleges that the prospectus authored by defendants misrepresented the true state of Streamedia's business at the time of the IPO. Specifically, the complaint alleges that Streamedia did not have any of the Internet broadcasting and other technical capabilities that were described in the prospectus. Furthermore, the complaint alleges that the Streamedia had not developed any programming or content for distribution and did not have any licensees or distributors for its claimed programming at the time of the IPO.
http://securities.stanford.edu/1018/SMILE01/
Did you see that he briefly appeared on the Pink Sheets company page as a director after the recent two (bogus) press releases? (I missed it myself, but was told about it by another poster here in a PM.) He's been removed from the page, and so has Mataras.
I surely would like to see a proper 8K filing from the company to set the record straight. Indeed, I'd like to know exactly how the current board got elected. It seems to me that there may not be a legitimate board of directors at all here.
Watch this space...
http://www.ice.gov/graphics/news/index.htm
Awaiting go code. Advise phase II commencement.
Call it an observation, NN, not necessarily a criticism. We present our online personnae as we like. What is important is that underlying your anger is integrity and a genuine desire to find and reveal the truth.
So waddyathink? Indictment soon? I think the self-proclaimed king has gone too far this time, and deserves to awaken in a 'kingdom of pen' where the guards rule. LOL!
NN- Be nice to mmayr. He really has no clue, and you must realize that your posting style is more than a bit abrasive. LOL!
mayr- You're killin' me with the stuff about the FBI. Touts and louts make that idle threat at least once a day in posts to me. The fact is that the authorities already know the identities of posters like Nanuck and me, from the many reports that we've sent to them. Quite frankly, we save them quite a bit of time by pointing out inconsistencies and linkages that someone less familiar with the company might miss.
Harry Truman said it neatly:
"It is amazing what you can accomplish if you do not care who gets the credit."
NN- I heard that G! Zeuss got the proverbial knock on the door yesterday evening. Some kind of formal notice I presume.
The Penny King probably spent some time in the throne room afterwards, embracing one of the porcelain fixtures.
LOL!
It's all over but the shouting for the Penny King's TLXX game.
Developing...
Very glad to see action against Stockett after the SEC slapped his wrist in 2002. It's long past time to get tough with the crims.
Just a bit of context for these old references thepennyking is making. He was purportedly conned bigtime by Palm and Dallas.
Here is a snippet from his deposition in the summer of 2002.
Q. What kind of Foreign interest do you have in Canada?
A. I did have an interest in a company called Advanced Capital Services.
Q. Is that the same Advanced Capital Services you mentioned earlier?
A. No.
Q. What's the difference?
A. That one was incorporated in Canada.
Q. Was that also your personal corporation?
A. No, I had a one-third interest in it. I had two other partners.
Q. And who were they?
A. Robert Palm and Jason Dallas.
...
Q. Are these Canadian citizens?
A. I believe they are.
Q. Are they still in Canada?
A. I have no clue where they are.
Q. Did that company have any assets?
A. Yes.
Q. And what kind of assets?
A. I wouldn't be able to give you an exact figure.
Q. What kind of assets, what type?
A. They reported billions in assets.
Q. Money assets?
A. Stocks, bonds, currencies, real estate, gold, you name it.
Q. And what was the purpose of that company? What was the business?
A. Venture capital.
Q. And the foreign interest in the Cayman Islands, what kind of foreign interest did you have in the Cayman Islands?
A. Does it say Cayman Islands?
Q. Yes, it does.
A. Oh, yeah. Okay.
Q. What kind of foreign interest did you have in the Cayman Islands?
A. You'd have to ask them.
Q. I'm sorry?
A. You'd have to ask Advanced Capital that question.
Q. So the foreign interests you have in Canada --
A. They were through Advanced Capital.
Q. And the Phillipines?
A. Yes.
Q. Also through Advanced Capital?
A. Yes.
Q. Of Canada?
A. Yes.
Q. And Russia?
A. Yes.
Q. That was also through Advanced Capital?
A. Yes.
Q. And Hungary and Europe?
A. Yes.
Q. Were those all through Advanced Capital of Canada?
A. Yes.
Q. What city is this company in?
A. Victoria. I don't know if it's-- I don't think it's still around.
Q. What made you think that Advanced Capital had billions of dollars of assets?
A. They showed me the financial statement.
Q. Who's they?
A. Robert Palm and Jason Dallas.
Q. What did the financial statements say about that? What did they indicate?
A. That they had stocks, they had contracts for gold, they had currency transactions, that sort of thing.
Q. What did you do to become a third partner in this venture?
A. I was giving them advice.
Q. Did you recieve a third of that billions of assets?
A. It became part of my assets, yes.
Q. Did they give you a listing of those assets?
A. Did who?
Q. The company. I mean, did they give you anything that would indicate that you had -- that you personally owned a third of this billions --
A. They showed me the documents, yes.
Q. Do you have any of those documents?
A. No.
Q. Do you have access to any of those funds?
A. No.
Q. Do you know where those funds are held?
A. No.
Q. So the only people that would know this are the two men you mentioned?
A. Yes.
Q. Do you know where they are?
A. No.
Q. Do you know what city they live in?
A. No.
Q. You have no idea?
A. No.
Q. Do you know how old they are?
A. No.
Q. You also mentioned that in 1983 you made a formal proposal to Ferdinand Marcos.
A. Yes.
Q. President Ferdinand Marcos. Did you actually have meetings with President Marcos?
A. No, I met with Victor Ninuda.
Q. Who is?
A. Well, it's covered in this book right here.
Q. Are you mentioned in this book? You've got a book here --
A. This is my book right here, but I'm not going to give you that.
Q. Okay. You've got a book here entitled "Asian Loot" by Charles McDougal -- McDougald, D-o-u-g-a-l-d.
A. Uh-huh.
Q. Are you mentioned in this book?
A. No, but Victor Nituda is -
Q. So --
A. -- and he's also mentioned in my book.
Q. Okay. But you aren't mentioned in this book?
A. No.
Q. There's nothing about your connection with Mr. Marcos in this book?
A. No.
Q. Okay. You state in your website that Marcos revealsed to you the whereabouts of Yamashita's gold, 800,000 -- I mean, 80,000 metric tons stolen from the Buddhist villages by the Japanese during World War II.
A. Uh-huh.
Q. And salted away in the Phillipines mines.
A. Uh-huh. Yes.
Q. Did you ever see this money -- I mean, gold?
A. No.
Q. You said that you had given this information to the US State Department via the FBI. Who at the FBI did you give this information to?
A. Special Agent MacDonald in the Tacoma office.
Q. And do you know what Agent MacDonald did with this information?
A. He took the contact that we had, he took the documentation that we had and the pictures that we had and basically kept them.
Q. You had pictures of this gold?
A. We had pictures of the meetings that we had with the people that represented the gold.
Q. And who was it that represented the gold?
A. Well, it's all in the documentation that the FBI has, so you'll have to ask them.
Not completely similar, but close...
Anderson appeals the trial court's denial of his Florida Rule of Criminal Procedure 3.850
motion for collateral relief alleging that his 1982 plea of no contest to grand theft auto and grand
theft was unknowing and involuntary because he was not advised of the possibility of deportation.
He also alleges that his trial counsel was ineffective for not advising him that he would be subject
to deportation and for not seeking a judicial recommendation that would have eliminated that
potential. Lastly, he argues that the 1989 adoption of Florida Rule of Criminal Procedure
3.172(c)(8), requiring the sentencing court to advise defendants of the consequences of
deportation, should apply retroactively.
A criminal defendant who is not a United States citizen and who has been found guilty of
committing a crime in this country can be deported as one of the consequences of illegal activity.
http://www.5dca.org/Opinions/Opin2003/102003/5D02-3923.op.corr.pdf
Sounds just like you, PK. Got your bags packed?
It's all over but the shouting. Those last press releases on TLXX were the last straw, and they'll be comin' for you soon. See US Code Title 8, Chapter 12, Subchapter II, Title IV, Section 1227 - Deportable aliens.
Q. Have you immigrated here?
A. Yes.
Q. Do you have a green card?
A. Yes.
Q. Does it have a number on it?
A. Yes.
Q. Do you have that?
A. Do I have it with me? No. I can call somebody and get it if you want.
Q. If it becomes necessary, you'll be able to produce it?
A. Sure. It starts with A.
Q. I think they all do.
A. I think it's A177, but I don't -- I didn't memorize it.
Offshore Naked Short Fund Demand Crashes System
First day demand for the newly announced Offshore Naked Short Fund was so great that the website of ONS Financial, sponser of the find crashed due to excessive demand. The site recorded over three million hits within the first hour of its announcement.
(PRWEB) April 2, 2004 -- Management of ONS Financial, sponser of the first Naked Shorting hedge fund available to individuals, announced that first day demand was so great that its server was unable to cope with the traffic.
Andrew Kramer, spokesman for ONS financial said:"We were amazed at the incredible response to the announcement of this fund. We knew there would be pent up demand for a fund specializing in shorting OTC-BB and Pink Sheet stocks, but we failed to imagine how intense interest would be. While we maintain a state of the art dedicated server it was simply unable to cope with the volume. We were even forced to switch our e-mail to auto-respond to requests for information."
Kramer continued, "What particularly amazed us was that there was so much demand on the 1st of April. We think it might have had to to with the new NASD affirmative determination requirements that took effect, or perhaps because the internet penny stock attracts so many gullible investors who will believe damn near anything the shills tell them. Apparantly a lot of them also missed the easter egg link to http://onsfinancial.bravehost.com/index.html. We would have thought the Buggs sound clip would have tipped them off.
Rumors were flying in the financial community yesterday that demands for ONS services were so great that the company might consider becoming listed on a US exchange. "It's certainly something we are looking at," said Kramer. "It's not everyday that a new fund attracts as many potential suckers we did yesterday."
"Stockgate has been great for us," said Kramer. "By forcing reforms on the NASD and closing the Canadian loophole the tireless crusaders at Investrend have opened up a great opportunity for us."
Stockgate of course refers to the national scandle manufactured by Investrend and the over 100 companies claimed to be involved in the naked short selling controversy.
The complete list of those 108 companies include Advanced Viral Research Corp. (OTCBB: ADVR), AdZone Research, Inc. (OTCBB: ADZR), Amazon Natural Treasures (OTC: ANTD), America's Senior Financial Services (OTCBB: AMSE), American Ammunition, Inc. (OTCBB: AAMI), AngelCiti Entertainment (OTCBB: AGLC), ATSI Communications, Inc. (OTC: ATSC), Federal Agricultural Mortgage / Farmer Mac (NYSE: AGM) Allied Capital (NYSE: ALD), American Motorcycle (OTC: AMCYV), American International Industries (OTCBB: AMIN), Ameri-Dream (OTC: AMDR), Adirondack Pure Springs Mt. Water Co. (OTCBB: APSW), ATSI Communications, Inc. (OTC: ATSC) Bluebook International (OTCBB: BBIC), Blue Industries (OTCBB: BLIIV), Bentley Communications (OTCBB: BTLY), BIFS Technologies Corporation (OTCBB: BIFT), Biocurex (OTCBB: BOCX). Broadleaf Capital Partners, Inc. (OTCBB: BDLF), Chattem, Inc. (NASDAQ:CHTT), Critical Home Care (OTCBB: CCLH), Composite Holdings (OTC: COHIA), CyberDigital, Inc. (OTCBB: CYBD). Diamond International Group (OTCBB: DMND), Dobson Communications Corp. (NASDAQ:DCEL), Eagle Tech Communications (OTC: EATC), Edgetech Services (OTCBB: EDGH);
Also, Endovasc Ltd. (OTCBB: EVSC), Enviro-Energy Corporation (OTCBB: ENGY), Environmental Products &Technologies (OTC: EPTC), Environmental Solutions Worldwide, Inc. (OTCBB: ESWW), EPIXTAR Corp. (OTCBB: EPXR), eResearchTechnologies, Inc. (NASDAQ:ERES), Flight Safety Technologies (OTCBB: FLST), Freddie Mac (NYSE: FRE), FreeStar Technologies (OTCBB: FSRCE), Front Porch Digital,
Inc. (OTCBB: FPDI), Geotec Thermal Generators, Inc. (OTCBB: GETC), Genesis Intermedia (OTC: GENI), GeneMax Corp. (OTCBB: GMXX), Global Explorations Inc (OTC: GXXL), Global Path (OTCBB: GBPI), GloTech Industries, Inc. (OTCBB: GTHI), Green Dolphin Systems (OTCBB: GLDS), Group Management (OTCBB: GPMT), Hop-On (OTC: HPON), H-Quotient, Inc., (OTCBB: HQNT), Hyperdynamics Corp. (OTCBB: HYPD), International Biochem (OTCBB: IBCL), Intergold Corp. (OTCBB: IGCO), International Broadcasting Corporation (OTCBB: IBCS), InternetStudios, Inc. (OTCBB: ISTO), ITIS Holdings (OTCBB: ITHH), Investco Corp. (OTCBB: IVCO), Lair Holdings (OTC: LAIR), Lifeline BioTechnologies Inc. (OTC: LBTT), Life Energy &Technology (OTCBB: LETH), MBIA (NYSE: MBI);
Also, MegaMania Interactive (OTC: MNIA), MetaSource Group, Inc. (OTCBB: MTSR), Midastrade.com (OTC: MIDS), Make Your Move (OTCBB: MKMV), Medinah Minerals (OTC: MDMN), MSM Jewelry Corp. (OTC: MSMC), Nanopierce Technologies, Inc. (OTCBB: NPCT), Nutra Pharmaceutical (OTCBB: NPHC), Nutek (OTCBB: NUTK), Navigator Ventures (OTC: NVGV), Orbit E-Commerce, Inc. (OTCBB: OECI), Pitts &Spitts (OTC: PSPP), Sales OnLine Direct (OTCBB: PAID), Pacel Corp. (OTCBB: PACC), PayStar Corporation (OTC: PYST), Petrogen Corp. (OTCBB: PTGC), Pinnacle Business Management (OTC: PCBM), Premier Development &Investment, Inc. (OTCBB: PDVN), PrimeHoldings.com, Inc. (OTC: PRIM), Phlo Corporation (OTCBB: PHLC), Resourcing Solutions (OTC: RESG), Reed Holdings (OTC: RDHC), Rocky Mountain Energy Corp. (OTCBB: RMECE), RTIN Holdings (OTCBB: RTNHE), Saflink Corp. (NASDAQ:SFLK), Safe Travel Care (OTCBB: SFTVV), Sedona Corp. (OTCBB: SDNA);
Also, Sionix Corp. (OTCBB: SINX), Sonoran Energy (OTCBB: SNRN), Starmax Technologies (OTC: SMXIF), Storage Suites America (OTC: SSUA), Suncomm Technologies (OTC: STEH), Sports Resorts International (NASDAQ:SPRI), Technology Logistics (OTC: TLOS), Swiss Medica, Inc. (OTCBB: SWME), Ten Stix, Inc. (OTCBB: TNTI), Tidelands Oil (OTCBB: TIDE), Titan Construction (OTC: TTCS), Trezac Corp. (OTCBB: TRZAV), Universal Express, Inc. (OTCBB: USXP), Valesc Holdings, Inc. (OTCBB: VLSHV), Vega Atlantic (OTCBB: VGAC), Viragen (AMEX: VRA), Viragen International (OTCBB: VGNI), Vista Continental Corporation, (OTCBB: VICC), Viva International (OTCBB: VIVI), Vtex Energy (OTCBB: VXENE) and Wizzard Software (OTCBB: WIZD), WorldTradeShow.com (OTC: WTSW) and Y3K Secure Enterprise Software, Inc. (OTCBB: YTHK).
"We can never thank Investrend enough," said Kramer. Although shoddy, inaccurate, and misleading, their tireless campaign created this opportunity for us."
http://www.prweb.com/releases/2004/4/prweb115376.htm
Hmmmmmm.....
Laurus Funds Reports Complaint Against It and Other Defendants Dismissed in Its Entirety With Prejudice
PR Newswire - April 01, 2004 09:15
NEW YORK, Apr 1, 2004 /PRNewswire via COMTEX/ -- Laurus Funds today reported that on March 30, 2004, U.S. District Court Judge Loretta A. Preska, New York Southern District, dismissed, with prejudice, the entire complaint filed by Endovasc Ltd., Inc., (OTC Bulletin Board: EVSC) against Laurus Funds and other defendants. For more information, please contact Hillary Richard, Esq. At (212) 668-1900.
Acs deposition posted on Raging Bull TLXX board:
http://ragingbull.lycos.com/mboard/boards.cgi?board=TLXX&read=119752
http://ragingbull.lycos.com/mboard/boards.cgi?board=TLXX&read=119755
Excerpt:
Q. What is Advanced Telnyx Services Corporation?
A. It's a subsidiary of Penny King Holdings.
Q. What is its status, what is it; is it a corporation?
A. It is.
Q. Where is it incorporated?
A. Delaware.
Q. What is its business?
A. It attempts to do financing for companies.
Q. Does it hold any cash?
A. Currently not.
Q. Has it ever?
A. Nope.
Q. Has it ever owned any property?
A. Nope.
Q. Has it ever had any assets?
A. No.
Q. What is PKPI Corp.?
A. It's a Nevada corporation.
Q. What is your relationship to PKPI Corp.?
A. President, director.
Q. What does PKPI Corp. do?
A. Nothing.
Q. It has no business?
A. It's just a corporation, it has stock. It has no assets, no income.
Q. Is Telnyx, Inc. a corporation?
A. It is.
Q. Where is it incorporated?
A. Delaware.
Q. What is your relationship to Telnyx, Inx.?
A. Indirect stockholder.
Q. What do you mean by "indirect stockholder"?
A. Penny King Holdings Corporation owns preferred stock in Telnyx, Inc. which hasn't yet been delivered under a previous agreement.
Q. What is the business of Telnyx?
A. It used to be a software company, now it's an insolvent corporation.
Q. Where is it located?
A. As far as its address?
Q. Uh-huh.
A. The legal address is here in Reno, same address as Penny King Holdings and all other companies.
Q. Who is the president of Telnyx?
A. Gary Miller.
mmayr- She was on the board until she was replaced by Paul Mataras, but unfortunately TLXX is non-reporting pink sheet trash so there are no recent SEC filings at all. Here's a Google cache snapshot that shows Sandra L. Gabor as "Dir & Sec't":
http://tinyurl.com/2lm4g
The Rabbit Ridge address, by the way, is a residence.
The real question is how did FCFA get control of the TLXX shell? How did the self-proclaimed Penny King's (ex-)wife get on the board of directors? Just another con?
Stranger than this? Can anyone here translate Polish?
Polscy farmerzy wygrali sprawe sadowa.
Autor: W.Glowacki (---.vc.shawcable.net)
Data: 01-20-03 18:39
Tylko kiedy beda pieniadze?
W piatek 17 stycznia 2003, Najwyzszy Sad Prowincji British Columbia w Wiktorii, Kanada, decyzja sedziego SN Allena Melvina, uznal w calosci zadania polskiej spoldzielni rolniczej Hod Impex, wzgledem Advance Capital Services Corp. i jej wlascicielowi Robertowi Palmowi. Suma odszkodowania wynosi US 37 milionow dolarow, chociaz polskiej spolce przysluguje wiecej niz 50 milionow.
Orzeczenie zamyka ponad dziesioletnia sprawe, wytoczona w 1993 przez Hod Impex, tyczaca oszustwa jakiego dopuscil sie Palm i jego firma, wzgledem polskiej spolki. Ze wzgledu jednak na fakt, ze Jason Dallas, jego wspolpracownik, rownoczesnie wspolwlasciciel firmy odsiadywal wyrok w Polsce, wyrok zostal orzeczony tylko w stosunku do Roberta Palma, z tytulu odpowiedzialnosci cywilnej za popelnione oszustwa.
W 1991 roku, Robert Palm- jako duchowny pentakostalny , wystepujacy w imieniu "grupy chrzescijanskich biznesmenow" i Jason Dallas, wystapili do Hod Impex z oferta eksportowa do Rosji polskich produktow rolnych w ramach akcji humanitarnej, na ogolna sume US 300 milionow. Na pokrycie swojej oferty zakupu, Palm przedlozyl dokumenty bankowe z United National Republican Bank, wykazujace pokrycie bankowe w wysokosci US 188 miliardow dolarow. Na sam poczatek, Hod Impex wyeksportowal produktow rolnych za sume 37 milionow, co mialo byc poczatkiem umowy. Przez kolejne dwa lata, spolka nie otrzymala ani centa zaplaty za dokonany eksport. W 1993 roku, oddano sprawe do sadu.
Jak wykazaly pozniejsze dochodzenia, wspomniany bank istnial tylko na papierze, zas jego szefem byl sam Palm. Okazalo sie nadto, ze zaledwie po roku istnienia banku, nie mozna bylo znalezc ani grosza, zas Palm nie potrafil wiarygodnie udowodnic znikniecia wkladow. Nadto bank nie posiadal zadnej licencji uprawniajacej do jego dzialanosci.
Sedzia w slownym uzasadnieniu wyroku, kilkakrotnie podkreslil "sliskosc, kretactwo, klamstwo, wszystko wystepujace na porzadku dziennym u Roberta Palma....Sluchanie wywodow lub tlumaczen Palma, oraz branie ich za dobra monete, bylo niczym innym, jak proba z jego strony ponizenia czyjejs inteligencji. Robilo sie niedobrze"- zakonczyl sedzia.
Jerzy Winski, prawnik Hod Impex, nie jest jednak az tak zadowolonym z orzeczenia. "Przede wszystkim nie jest wiadomym dokladnie, gdzie jest w tej chwili Palm, jego telefon nie znajduje sie na liscie abonentow Victorii, nie wiadomo tez, czy Palm jest wyplacalna osoba"--konczy polski prawnik. [The Province,19/01/2003]
(W. G?owacki,Prawy.pl)
http://www.iyp.org/forum/read.php?f=1&t=4846&a=1