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So I guess the “CEO” aka the lone executive of the entire corporation and lone individual having the ability to aurhoize or prevent those criminal transactions wasn’t the root of the problem..
Of course, Mr. Shah was just a victim and that’s why he’s no longer here!
CLUELESS: SHMN liquidated 100% of their manufacturing equipment and 98% of their inventory and assets, as well as terminated 97% of their workforce in the final quarter of 2015.
These facts and figures are hard to dispute when they are sitting right in all the recently published financials the company intentionally withheld for years.
As of the June 30, 2018 quarterly report: Those 2015 numbers HAVE ONLY GOTTEN WORSE.
Ms. Shah did this so she could pay off a small fraction of the millions in liabilities and unsecured loans Mr. Shah and his associates accumulated throughout his years-long fraud operation.
So SHMN lost literally everything as a result. Hard to say “settled in 2015” when they are literally a director and four custodians sitting in an empty warehouse in India. Oh, and they still have over $5,000,000 in debt, a self-calculated $2,0000,000 negative cash balance and are indefinitely suspended from business in the United States for childishly ignoring California tax law.
As a result, their revenue dropped 90-95% since Mr. Shah left (their revenue as of 2018 is entirely from selling shares and residual liquidation of existing inventory) and has been rapidly approaching ZERO.
Numbers don’t lie.
I believe OTC will issue a caveat emptor designation once they receive formal correspondence from the FBI and SEC. It’s no surprise that SHMN “forgot” to mention the SEC and criminal dispositions in their quarterly and annual reports.
***WARNING: SEC/FBI CONFIRM SHMN FRAUD, SANCTIONED/CONVICTED
Former SHMN director Shaileish Shah was indicted and convicted in Federal court following years of suspected fraud and money laundering. Along with his criminal sentnegligence nice, SEC issued a 5-year cease & desist order barring him from nealy all penny stock and trading activities.
https://www.sec.gov/litigation/admin/2015/34-76398.pdf
Sohm’s California business license has been revoked since 2014 as a result of non-compliance with California tax law. Sohm no longer has a presence in the United States not the ability to legally conduct business operations. They updated their “corporate office” to the address of Shailesh Shah’s personal apartment in Buena Park.
Following his arrest and conviction, Ms. Swati Shah was appointed director and promptly took action to liquidate destroy what was left of their defunct Indian pharmaceutical business. Per the quarterly report for the period ending 6/30/2018 and 2015/2016 annual reports,
https://backend.otcmarkets.com/otcapi/company/financial-report/203406/content
It was revealed that Sohm/SHMN conducted the following actions without public disclosure and continued to cover-up and publish misleading information suggesting that United States retail and Indian manufacturing operations were unchanged.
1. Ms. Shah liquidated 98% (approx. $840,000) of the company’s assets including inventory and pending sales orders in the final quarter of 2015.
2. Ms. Shah terminated 97% (140 of 145 employees) of the company’s workforce in the final quarter of 2015.
3. Ms. Shah liquidated 100% (approx. $1.2 million) of company-owned equipment prior to the end of 2015.
Following such, revenues dropped approximately 90-95% supporting the conclusion that manufacturing and sales were interrupted or abandoned well prior to 2018 when first exposed. There is clear evidence of an intentional cover-up, as well as suspected fraudulent activity through 2018.
The FBI and SEC have not yet disclosed whether or not additional investigations are in progress.
SHMN doesn’t have a Nevada business license, they are an OUT-OF-STATE DOMESTIC CORPORATION.
They have ZERO PRESENCE IN NEVADA and operated a CORPORATE OFFICE IN CALIFORNIA which means THEY NEED A CALIFORNIA LICENSE FOR SAID OFFICE but IT GOT REVOKED because SHMN WAS A FRAUD OPERATION.
READ THE REQUIREMENTS DOCUMENTS I LINKED?
Unreal.
So what’s SHMN’s plan now that they have no equipment, 5 employees, $3,000 cash, $2.3 million negative cash flow and current liabilities of $170,000 due? Last quarter revenue was only $100,000 with a net income of $9,000....
In the quarterly, Baron Night states that he anticipates resorting to financing methods used by SHMN in the past...
So... fraud? Taking out $3.5 million in unsecured cash loans? Dilution?
SHMN business license revoked
A requirement for an out-of-state Nevada corporation is to maintain a business license in the state where their corporate office is located. Sohm’s California business license was revoked for tax delinquency.
https://businesssearch.sos.ca.gov/CBS/Detail
https://www.nvsos.gov/sos/home/showdocument?id=2875
SHMN Q2 financials confirm most PRs were fake over the past two years. Again, they laid off 97% of their workforce IN 2015 and liquidated 97% of their assets to include 100% of their equipment IN 2015 to pay off some of Mr. Shuh’s unexplained $2.5 million in unsecured cash loans and liabilities.
SHMN and Sohm have only had 5 employees since 2015
All those sales orders? Non-existent
US sales figures and products? Sohm lost their California business license in 2014
Rumor is there’s a handful of insiders with a substantial (hundreds of millions, which may or may not be part of the float yet) amount of shares looking to dump everything on the next PR. Gotta get something before the share price drops down to .001 molecules of carbon dioxide when this hits the grey market!
Again, if you’re holding share call or email the SEC to see whether or not SHMN is on the review docket.
I’m thinking a few insiders might not know yet LOL
Revenues from SHMN are entirely from selling shares. Please let’s remind everyone that SHMN is nothing more than a rented mailbox in California with zero assets and millions in debt. SHMN is also a seemingly endless supply of free money provided by some shareholders who can’t seem to hypothesize where the $__ million generated from perpetually increasing dilution totaling ONE BILLION SHARES and years of fake and misleading PRs, willfully and deliberately remaining completely delinquent to hide years of missing and mismanaged funds, siphoning money into , paying off promoters who took advantage of them and fictitious numbers.
I mean really. Do the math. How many millions of dollars did they take from shareholders and what do they have to show for it? A completely worthless shell corporation with millions of dollars in accumulated debt and Sohm an Indian company that is no longer facing bankruptcy.
Good deal right? Long-te shareholders lost almost everything and Sohm turned their shell into a GoFundMe account
Correct! The former “rogue” director (and his female half who did who knows what while filling in for him as director) went off the deep end before they both submitted their letters of resignation to each other. Together they
1. After allowing a certain promotion group solicit and guide them through the “easy money” incorporation model, of which resulted in Nevada incorporation using the typical affordable, abandoned office suite with an physical address, they watched their dysfunctional attempt at establishing a fake “distribution warehouse” for ”US sales” in an empty building back in 2014 in order to avoid scrutiny or suspicion from US authorities. It didn’t work. They lost everything.
2. Tried to convince the public that they were anticipating 6-figure revenues from their US retail locations.. aka two unnamed non-chain convenience stores back east. They walked those figures down a few commas before completely abandoning their US presence..
Oh what do you know, the “easy money” made them bankrupt. Promoters cane back to save the day and their Indian company.
3. Successfuly and intentionally remained 100% delinquent since above-mentioned events. Was it because they didn’t have a calculator? Or something else..
4. While delinquent, their operations in India faced bankruptcy. A miracle! They were guided by a life-saving promotion group, possibly the same one that guided them into their initial corporation. The group gave them some guidance all for one easy payment of _______ shares up front and 108,000,000 later on for some sort of comletely legal insider cross-trading and a few well-timed PRs. They also asked for executive authority, power of attorney and access to all of their online resources. They promised to freshen up the look a little.
5. Should I really explain the rest? I’m just making this up as I go...
SEC Division of Enforcement
My recommendation to everyone:
1. DO your own due diligence BEFORE you buy, especially if it’s one of the most non-transparent, unethical and incompetent shells on the OTC.
2. DO NOT rely on information published by the company, especially since the have a history of publishing misleading and completely fictitious information. DO NOT trust ANYTHING the company publishes on a social media medium. That included their website, the typical Freeware Wordpress blog software thrown together as part of the malicious promotion package.
3. DO contact the SEC below if you are worried about the risk of instantly losing 90% or more of a 10-day suspension is handed down. Less than 0.1% of OTC companies ever return from the grey market. Do some research.
4. Most importantly question the intentions of a struggling Indian pharmaceutical company incorporating in Nevada as a shell with ZERO presence in the United States other than a rented PO box in ANAHEIM. The director and lone executive LIVES IN INDIA. Here’s their recent track record: They diluted the stock down by approximately 800% and successfully remained entirely incompetent and entirely delinquent since 2014. They have lost ALL accountability of the funds from borrowed from shareholder equity (I wish I knew but SHMN intentionally hides their financials, but common sense says they borrowed (I think there’s a more fitting term) between $1-15 million in unsecured shareholder equity since inception) somewhere in India. What’s more fascinating is that SHMN’s financial executive (who also happens to be the DIRECTOR) was competent enough to pass an under-the-radar convertIble note and DOUBLE the A/S to 2 billion since 2014, but willingly refused to submit one single piece of financial accounting since then.
Man, I really wish SHMN or Sohm would share timely and truthful accounting with shareholders so we could ascertain how many millions were siphoned off as his “one-man-shell-corporation” executive salary.
5. Oh, to add on to #4, SHMN and Sohm likely spent all the borrowed equity for _________ and have no plans or intentions to pay it back. Or respond to a subpoena or indictment after SHMN fully collapses.
Call during business hours. There’s no wait.
https://www.sec.gov/page/enforcement-section-landing
Online form
https://www.sec.gov/complaint/question.shtml
SHMN is on the SEC docket for suspension review
Does anyone know why SHMN hasn’t published a notice to disregard for all the other blatantly fake PRs published by their fraud conspirator.. I mean promotion group?
Odd how SHMN briefly held a “binding LOI and upcoming ICO” with an unnamed and undisclosed cryptocurrency company earlier this year.. Also odd how their “legal team” no longer acknowledges that it ever existed after the SEC announced the same cryptocurrency ICO scheme was the #1 stock market fraud MO in 2017 and would increase enforcement in 2018.
SHMN is to be reviewed for a possible SEC suspension for questionable activity in violation of every single category of their suspension suspension guidelines, particularly the
1. Fictitious PRs published as a result of SHMN’s negligence and complete lack of oversight of their “promotion group”
2. Their promoter trying to implement the exact same cryptocurrency scheme that resulted in dozens of SEC suspensions since 2017
3. Illegal cross-trading and above-mentioned fictitious PRs used to inflate the price.. which is relatively commonplace in the OTC, but not when an insider procures and sells 108 million shares from a undocumented “2014 convertible note” issued to an “unnamed party” for “undisclosed services”
Don’t believe me? Call or email the enforcement division for confirmation. Maybe you could ask them to put SHMN at the bottom of the stack to buy some time.
The good news is, the SEC subpoenas come AFTER the suspension, if they’re even needed. I imagine it’s difficult to check their mailbox or receive a service in Anaheim when they’re all in India. LOL
Pink current doesn’t really do you any good on the Grey Market
****SHMN’s fictitious PRs now fully-qualify for SEC suspension per published suspension guidelines. To make matters worse, OTC recently downgraded SHMN from delinquent to defunct, meaning Grey Market or delisting might be right around the corner for this incompetent shell corporation operated entirely out of a rented mailbox.
EXPOSED: https://investorshub.advfn.com/boards/read_msg.aspx?message_id=142801783
For those that don’t know, the defunct shell corporation SHMN currently has zero presence in the United States beyond the rented mailbox. Other than placing several boxes of OTC medication on the shelves of two unnamed convenience stores in the eastern United States over three years ago, prior to abandoning operations and going delinquent in reporting for the next three years, they have nothing to show.
They do, however, have implicated themselves in a blatantly fictitious and possibly illegal PR promotion that will likely be investigated by the SEC and/or FBI if a conspiracy or insider trading is suspected. To summarize, the “director” or other unknown executive of SHMN negligently granted complete control of the corporation’s publishing authority to a questionable promotion group who proceeded to publish confirmed fictitious news in the approximate timeframe that 108 million new shares were created and likely sold. During the same approximate timeframe, share prices were, without merit or logical explanation, artificially inflated using suspected cross-trading 2500% over the long-term average within a matter of days. We are expected to believe that this took place with ZERO OVERSIGHT from the “director” or legitimate representative.
The question is: was SHMN
A) grossly negligent
B) a victim of fraud
C) an involved party in a criminal conspiracy
The “director” then resigned and approximately $150-250,000 in funds assumed generated from the sale of the above-mentioned shares for unexplained services remains in the hands of an unnamed party, who just coincidentally received the shares as the price was inflated 2500% issuing suspected fictitious promotions and cross-trading.
Information regarding possible SEC action:
Federal law authorizes the SEC, as the federal oversight and investor protection agency, to issue a precautionary 10-day suspension to ANY stock traded on a US market (SHMN).
OTC Markets, per policy, automatically removes and re-assigns any company that receives an SEC suspension from quoted trading to the “Grey Market” commonly referred to as the OTC graveyard. Less than 0.1% of OTC tickers that receive an SEC suspension return to quoted trading (99.9% are likely involved in malicious or fraudulent operations similar to what SHMN is possibly involved with, or make no effort to apply for reinstatement).
From SEC.gov:
Why would the SEC suspend trading in a stock?
The SEC may suspend trading in a stock when the Commission is of the opinion that a suspension is required to protect investors and the public interest. Circumstances that might lead the Commission to suspend trading include:
• A lack of current, accurate, or adequate information about the company, for example, when a company is not current in its filings of periodic reports;
(OTC declared SHMN dark and defunct in August following a 3-year period of delinquency and complete lack of public disclosure and accounting for mismanaged funds and unexplained dilution)
• Questions about the accuracy of publicly available information, including in company press releases
(Do I even need to explain this one? SHMN PUBLICLY CONFIRMED that they allowed a still unnamed questionable promotion group, of which was allowed to use and exploit SHMN’s official publishing authority, to create and publish fictitious information in official PRs)
* Questions about trading in the stock, including trading by insiders, potential market manipulation, and the ability to clear and settle transactions in the stock
(2500% climb on announcement of a non-existent “binding LOI” with an unnamed company, ran concurrently with the dilution and assumed sale of 108 million shares for an unexplained and seemingly undocumented 2014 convertible note with an unnamed company, I mean this has to just be a coincidence, right???)
Don’t take my word for it, do your due diligence. This information is public and can easily be independently confirmed.
Keep in mind, SHMN has diluted its stock approximately 10% of its initial value, all while using numerous promotions and seemingly endless empty promises of “partnerships”, “LOIs” and “agreements” that mysteriously failed to materialize over the years.
All of this shareholder equity was converted into capital, of which was mismanaged and conducted without reasonable reporting in accounting for the past three years. Their numbers are unverified and unaudited.
Where did the equity go and why does this corporation have nothing to show for it other than years of delinquency and a rented mailbox?
FRAUD ALERT: Going “satisfactory” in filings will NOT add value to this soon-to-be Grey Market sunken ship. SHMN is a shell corporation that intentionally went delinquent for 3 entire years to cover up their possible fraud and insider trading. All of the former “executives” live in India and are sending every dime of equity stolen from shareholders back to India. 800% dilution (millions of dollars) and a nearly maxed A/S of 2 billion and SHMN has nothing to show it’s shareholders other than a rented PO box in Anaheim (yeah how does they make sense) and a free Wordpress blog they call their corporate website.
SHMN’s implied mission statement: Salvage our failed and shuttered distribution operation as a “shell” corporation in the United States, even though we have no sales, property, employees or presence whatsoever, using a rented PO box and fictitiously referring to it as a corporate office suite in the articles of incorporation, for the sole purpose of diluting the stock into the ground, contracting scammers to publish fake news, and siphoning all the money back to India.. oh and we’ll just go delinquent and fabricate numbers on the reports so nobody knows where it went!
Stock has been diluted 800% so far. $0 in assets to show for the siphoned finds.
Gotta laugh at how stupid this is. Former director, his female other, and a faceless likely non-existent “financial veteran” all play musical chairs. One destroys the company in 2014, cashes out his salary, and walks away with unknown and undocumented sums of cash fraudulently removed from shareholder equity. Another issues, more like retroactively and fraudulently pulled one out of thin air, a 108 million share convertible note valued at $150-250k to an anonymous insider for “confidential” services after former reigns, intentionally goes delinquent for the next 3 years to either hide it or create it fraudulently.
One of the three, we know this for a fact because one of them as the director granted official publishing authority, contacts a questionable promotion group who then uses illegal cross-trading and numerous entirely fictitious PRs to fraudulently inflate the price 2500%
The 108 million are sold at the expense of shareholders BEFORE any word of the 2014 note became public.
You know it’s vad when you’re director is involved in both a conspiracy to commit fraud and successfully concealing damning public information from shareholders and the public.
Don’t believe me? Wait for the subpoenas. Oh wait, it’s a scam and has zero presence in the United Stsres other then that darn rented PO box.
Yeah, that’s fraud. Goodnight.
Fake PRs and MAJOR dilution. Numbers don’t lie. SHMN announced a mysterious 108 million share convertible note from “2014” AFTER it was converted and dumped...
So who knows how many other secret convertible notes are outstanding with other insiders?
One of the many reasons SHMN is likely going to get an SEC suspension slapped down to end their incompetence and exploitation
Largely irrelevant for a severely dark & defunct company on the verge of an SEC suspension for numerous issue
***SHMN OFFICIAL OTC UPDATE 11/6/2018: STILL DEFUNCT & DELINQUENT. Even after 6 straight months of cluelessly claiming they’re days away from fixing their issues
All fake PRs. Twitter and Wordpress blog posts are NOT reputable mediums for publishing “official” information.
28+ weeks later, only change is DOWNGRADE to defunct from the OTC. Disaster of a shell corporation.
SHMN soon to be Grey Market... what does that mean?
Grey Market = instant losses of 90-99.9%? Is that bad?
SHMN booted to the Grey Market by Thanksgiving? Hmm
Again, still referring to PRs published by the same malicious group that was caught publishing FAKE PRs???
Did you ever consider asking why there was ZERO public documentation or proof of this convertible note prior to converting it?
Did you ever consider why SHMN went delinquent from the EXACT TIME THE “NOTE” WAS “ISSUED”?
Did you ever consider the possibility that the 108 million shares were ISSUED TO THE PROMOTION GROUP who then allegedly “HIJACKED” THE PUBLISHING AUTHORITY AND RAN NUMEROUS FAKE PRS ABOUT FAKE LOIS, ICOS, AND SUBSIDIARY COMPANIES TO SELL THEIR SHARES AT UP TO 2500% OVER LONG-TERM AVERAGE?
Jesus. Anyone else starting to see the pattern here?
All in my opinion of course.. but there may or may not be a bit of evidence that slipped out.. into the wrong hands.
SHMN’s only purpose is to exploit shareholders and siphon money back to India with literally zero accountability. They established themselves as a corporation in the United States having NO PRESENCE other than a rented mailbox they compulsively misrepresent as their “corporate office suite”.
The SHMN ticker is used to maliciously generate capital in the form of borrowed shareholder equity - indefinite and interest free loans - they can use to save their failing Indian company from bankruptcy.
Good luck trying to argue against that.
> NO U.S. EMPLOYEES
> NO U.S. PRODUCTS OR SALES
> NO ACCOUNTABILITY OR TRANSPARENCY WHATSOEVER
> PARTNERED WITH A MALICIOUS PROMOTION GROUP TO MISLEAD SHAREHOLDERS
> FORCED SHAREHOLDERS TO FUND ANONYMOUS “PARTNER” 108 MILLION SHARES ($150-250,000) FOR UNDISCLOSED SERVICES
> DILUTED SHAREHOLDER EQUITY TO 12.5% VALUE WITH NOTHING TO SHOW FOR IT BUT EVEN MORE DEBT
What does this company even do? Oh, sell shares and then tell shareholders to pay their salaries.
***SHMN OFFICIAL OTC UPDATE 11/6/2018: STILL DEFUNCT & DELINQUENT. Even after 6 straight months of cluelessly claiming they’re days away from fixing their issues
***SHMN DILUTION UPDATE 11/6/2018: 108 million dumped so far in 2018, through the use of a fictitious news pump & dump promotion, possible fraud conspiracy between SHMN, their unnamed “PR agency” and the unnamed recipient of the shares clearly having insider knowledge of the promotion.
SEC expected to issue a devastating suspension possibly as soon as this week.
Ironic that the company hires a questionable promoter group to provide fictitious information to help them and insiders sell their shares. Just a coincidence!
Now they use Twitter and freeware Wordpress blog software to publish “official” information.
WHAT A JOKE
“No reverse split” but adds a billion shares.. what a joke!
3/28/2018 per Nevada filings
You forgot to mention the recent ONE BILLION added to the A/S to facilitate upcoming dilution.. irrelevant, I know!
Wrong. The nonexistent “binding LOI” with an unnamed cryptocurrency company that supposedly warranted a run to .0025 was also *no surprise* fake
SEC suspension or .0001 by Thanksgiving? About even.
Wonder who has “35M shares” bought between .0008 and .0025... ouch
It sure went down from there when they dumped the 108 million starting the day after! Of course, on the same day, the TA told someone it’s just selling related to the R/S cancellation and not dilution.. awkward....
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=139781946
Sorry, turning in filings 3-years late DOES NOT prevent an SEC or FBI investigation loooking into their fake PRs and malicious pump & dump promotions
*****SHMN’s fictitious PRs now fully-qualify for SEC suspension per published suspension guidelines. To make matters worse, OTC recently downgraded SHMN from delinquent to defunct, meaning Grey Market or delisting might be right the corner for this incompetent shell corporation operated entirely out of a rented mailbox.
EXPOSED: https://investorshub.advfn.com/boards/read_msg.aspx?message_id=142801783
For those that don’t know, the defunct shell corporation SHMN currently has zero presence in the United States beyond the rented mailbox. Other than placing several boxes of OTC medication on the shelves of two unnamed convenience stores in the eastern United States over three years ago, prior to abandoning operations and going delinquent in reporting for the next three years, they have nothing to show.
They do, however, have implicated themselves in a blatantly fictitious and possibly illegal PR promotion that will likely be investigated by the SEC and/or FBI if a conspiracy or insider trading is suspected. To summarize, the “director” or other unknown executive of SHMN negligently granted complete control of the corporation’s publishing authority to a questionable promotion group who proceeded to publish confirmed fictitious news in the approximate timeframe that 108 million new shares were created and likely sold. During the same approximate timeframe, share prices were, without merit or logical explanation, artificially inflated using suspected cross-trading 2500% over the long-term average within a matter of days. We are expected to believe that this took place with ZERO OVERSIGHT from the “director” or legitimate representative.
The question is: was SHMN
A) grossly negligent
B) a victim of fraud
C) an involved party in a criminal conspiracy
The “director” then resigned and approximately $150-250,000 in funds assumed generated from the sale of the above-mentioned shares for unexplained services remains in the hands of an unnamed party, who just coincidentally received the shares as the price was inflated 2500% issuing suspected fictitious promotions and cross-trading.
Information regarding possible SEC action:
Federal law authorizes the SEC, as the federal oversight and investor protection agency, to issue a precautionary 10-day suspension to ANY stock traded on a US market (SHMN).
OTC Markets, per policy, automatically removes and re-assigns any company that receives an SEC suspension from quoted trading to the “Grey Market” commonly referred to as the OTC graveyard. Less than 0.1% of OTC tickers that receive an SEC suspension return to quoted trading (99.9% are likely involved in malicious or fraudulent operations similar to what SHMN is possibly involved with, or make no effort to apply for reinstatement).
From SEC.gov:
Why would the SEC suspend trading in a stock?
The SEC may suspend trading in a stock when the Commission is of the opinion that a suspension is required to protect investors and the public interest. Circumstances that might lead the Commission to suspend trading include:
• A lack of current, accurate, or adequate information about the company, for example, when a company is not current in its filings of periodic reports;
(OTC declared SHMN dark and defunct in August following a 3-year period of delinquency and complete lack of public disclosure and accounting for mismanaged funds and unexplained dilution)
• Questions about the accuracy of publicly available information, including in company press releases
(Do I even need to explain this one? SHMN PUBLICLY CONFIRMED that they allowed a still unnamed questionable promotion group, of which was allowed to use and exploit SHMN’s official publishing authority, to create and publish fictitious information in official PRs)
* Questions about trading in the stock, including trading by insiders, potential market manipulation, and the ability to clear and settle transactions in the stock
(2500% climb on announcement of a non-existent “binding LOI” with an unnamed company, ran concurrently with the dilution and assumed sale of 108 million shares for an unexplained and seemingly undocumented 2014 convertible note with an unnamed company, I mean this has to just be a coincidence, right???)
Don’t take my word for it, do your due diligence. This information is public and can easily be independently confirmed.
Keep in mind, SHMN has diluted its stock approximately 10% of its initial value, all while using numerous promotions and seemingly endless empty promises of “partnerships”, “LOIs” and “agreements” that mysteriously failed to materialize over the years.
All of this shareholder equity was converted into capital, of which was mismanaged and conducted without reasonable reporting in accounting for the past three years. Their numbers are unverified and unaudited.
Where did the equity go and why does this corporation have nothing to show for it other than years of delinquency and a rented mailbox?
Hmm
What happened to the rumors that said it would be current 28 weeks ago? 27? 26? 25?
Love how OTC downgraded them to defunct weeks AFTER they received the filings.. must’ve been a minor issue with the 3-year trash product
LOL
Their distribution operation was shut down years ago. They sure made a lot of revenue off of the two unnamed convenience stores somewhere in the east coast they managed to dump their product into before announcing that their company was ceasing production and distribution operations indefinitely.
Revenue from selling shares is nothing to get excited about. Let’s not forget that SHMN has no products that can be legally sold in the US and the operations in India were halted in that timeframe.
So.. I guess those revenues align pretty well with the mysterious 108 million shares that were sold using a blatantly fraudulent 2500% pump & dump promotion to an anonymous insider, right?
That note was converted for approximately $151,000 - 259,000 based on volume analysis and information from the TA, when it was only worth an estimated $1000 - 10000 upon offering.
Whatever services SHMN received in 2014 was likely worth at most $10000. The fictitious PR promotion (fake cryptocurrency LOI) and illegal cross-trading likely resulted in somewhere between $141000 - 249000 defrauded from shareholders.
Just another coincidence I guess.. just like the CEO’s timely resignation.
I think the FBI needs to be aware of this.
Fact: They increased the A/S by ONE BILLION in that same timeframe to facilitate the conversion of the insider note. Shows they were so broke and clueless that they had to steal shareholder equity to meet their outstanding financial obligations..
OF WHICH THEY REFUSE TO DISCLOSE TO THE SHAREHOLDERS WHO WERE UNKNOWINGLY FORCED TO FINANCE A $200,000 MYSTERY WITH NO PUBLIC RECORD BECAUSE THEY REMAINED DELINQUENT IN ALL REPORTING FOR OVER 3 YEARS SINCE THE NOTE WAS ISSUED
This is all just a big coincidence, right?
Don’t worry, the SEC or possibly the FBI will be more than happy to request documentation.