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That must be a nice racket though. These guys take legitimate operating businesses, dilute the hell out of the shares, sell off the assets and pocket the money, then pass the shell around as a dividend to boost the stock price of their other companies.
I’d try it, but it would be just my luck to end up in jail for trying to pull a scam like that.
Not a total copy/paste, but he did forget to change the name of the company.
We know that Winick, Brooks,and Alexander lied. If Sangsomborn exists he lied to about his credentials on the financials.
How much good would it do for us to file suit against them?
.0002 - .0006 on 2.3M in volume
From my experience these buyback schemes are just a way to manipulate the PPS in the short term. If the company was strong they would just do a buyback with cash. Of course that doesn't work also. BKMP announced a buyback about a year ago. They bought back 600,000 shares and then diluted the share count by about 7 billion by converting notes.
The only time a R/S is beneficial to shareholders is when it is used to keep a stock "listed" on a major exchange. (NYSE, NASDAQ, AMEX) If it's done on an OTC oe "pink" it only invites shorting by brokers and MMs or inflates the price so that the company can dilute the share count at a higher price.
While on the topic of Tubac Holdings, Winick, and Sand Oil Inc., see if you notice anything about these two PRs:
#1
LAS VEGAS, NV--(MARKET WIRE)--Jun 2, 2006 -- Amerossi International Group Inc. (Other OTC:AMSN.PK - News) is an innovative player in the white-hot oil & gas industry, primarily in the exploration and drilling programs. Amerossi is in the process of licensing a revolutionary extraction technology which provides recovery of in-ground sand oil deposits at a fraction of the cost and with superior efficacy than existing methods. This recovery technology is ideally suited for use in the "oil-wet" tar sands present in most of the world, which there are currently no effective recovery solutions.
"Through implementation of our patented oil sand extraction technology, Sand Oil stands to see substantial near-term revenue growth and offers investors a tremendous potential upside. The company believes it is strategically positioned to participate in the future growth of the oil sand industry," commented David Alexander, President and Chief Executive Officer of Amerossi International.
#2
CENTENNIAL, CO--(MARKET WIRE)--Jan 18, 2006 -- Sand Oil, Inc. (Other OTC:SDOI.PK - News) is an innovative player in the white-hot oil & gas industry, focusing on the on-site extraction and recovery of oil sand deposits. Sand Oil has licensed a revolutionary extraction technology which provides recovery of in-ground sand oil deposits at a fraction of the cost and with superior efficacy than existing methods. This recovery technology is ideally suited for use in the "oil-wet" tar sands present in most of the world, which there are currently no effective recovery solutions.
"Entering the public marketplace is an important milestone for Sand Oil," states company CEO Glenn Tanner. "Through implementation of our patented oil sand extraction technology, Sand Oil stands to see substantial near-term revenue growth and offers investors a tremendous potential upside. The company believes it is strategically positioned to participate in the future growth of the oil sand industry."
Is deliberately copying a PR of another company protected under Safe Harbor?
I dug up a PR from an interview that Winick did with Francis Gaskins (Gaskinsco.com) The CEO of Terra Block was Michael Gross and it was a 50% joint venture with FCDH. So we are talking about the Florida Terra Block that is now in BKK.
You might want to ask him about First American Canadian Holdings, Sandy Winick, and Suncrest Energy.
It would seem that all of these companies (AMSN, Terra Block, Kachina Gold) were all at one point working, profitable companies. Then Sandy Winick or one of his associates gets a hold of them and the assets are sold off and they become shells.
Suncrest Energy(SNYY) – working drilling company until it became AMSN
Kachina Gold (KCHG) - Working gold mine until acquired by SNYY/AMSN
Terra Block/Earth Block – Producing block making equipment until acquired by SNYY/AMSN
Kachina Gold before being acquired by SNYY was owned by Tubac Holdings of AZ. Major shareholder, Sandy Winick 13%. In July 2005 a PR stated that it was producing 150 oz per week.
Another one of Tubac Holdings holdings was Sand Oil Inc. (June 2006 AMSN PR about the sand oil recovery update)
The president of Sand Oil is George Abisaleh. Guess who is answering the phones in Thailand for AMSN. George
I just recieved a hard copy letter in the mail from TDAmeritrade. They stated that they have a bulk cert for BKMPP for all of their clients. BKMPP is not DTC eligable and will not be trading through the DTC. They have sent the bulk cert back to the TA to be divided into certs for individual clients.
I wish Winick would take some responsibility for this and get the TA to stop lying. The TA said they would be DTC eligable and would be trading.
Of course when Winick said they would be "free trading" he didn't mention a venue. We all assumed it would be through the DTC. He may not be lying, but the truth is bent like a hair pin.
MMs and brokers are trading for below .00005
That's the one. From the old First Canadian website: http://www.fcahc.com/wtb.html#
Terra Block trades under the symbol TBVJ
You might have a problem finding it. According to pinksheets.com they moved to guess where. . . Thailand
FL phone: 407-895-4060 disconnected.
And this company was supposedly in business for 20 years?
Here's the names of all directors from both Terra Blocks on a Form 10-KSB http://sec.edgar-online.com/2003/03/31/0001015402-03-000969/Section18.asp
But how did BKMP sell shares of Terrablock on 12/05/06 when it didn't have the name Terra Block until 12/30/06?
Different Terra Block.
The divy was from the sale of interest in Terrablock Development JV Inc. of Orlando FL.
http://www.terrablock.com/profile.html
Hold on. . . They might be the same. SEC filing for Terra Block. Looks like the OH company but it talks about the TECSTOR process from the FL company.
http://sec.edgar-online.com/2004/03/30/0001108017-04-000128/Section7.asp
Where's the buyback? This is only a share exchange program. Kind of reminds me of the PAIM buyback scam.
Five things that scream scam:
1. They are not "buying back" anything. It is a 1:1 preferred for common split.
2. How can the preferreds have a value unless they are tradeable or convertable for cash. If they do trade the market sets the price not the CEO.
3. Any reduction in the float will be replaced by dillution once the preferreds become convertable in a year.
4. Preferreds are convertable to RESTRICTED commons after a year. That means if you choose to convert to the preferreds, your shares are restricted for 2-3 years. (1 year for the preferreds and 1-2 years for the commons under rule 144)
5. If the preferreds do hold their $.50 value until the one year conversion time, Everyone holding them is losing potential profit each time the PPS of the commons increases.
Most definitely a scam. This used to be a real company with real oil rigs and real revenue from drilling. What appears to have happened is Ron Brooks (Hutchinson KS) Moved ALL of the assets from AMSN to his own company Suncrest Drilling while he was the president of SNYY/AMSN. IMO David Alexander was a fictitious CEO created to divert attention from the pilfering that Ron Brooks was doing. Quote from 12/7/05 PR "These contracts are the first steps toward establishing Suncrest Drilling as a viable entity within the oil and gas development arena," said David Alexander, Chairman. Suncrest Drilling is still a registered company in KS and continues to carry a current drilling license all under the name of Ron Brooks. Ron stole products from HEE Corp. (another former Adatom/Winick spin-off) When his son Radley was the CEO and he has done the same with your investment. Ron Brooks needs to be in prison. Restricted or not, they are your shares and you lost money. When the president of the company steals all of the assets of the company for his own personal use and profit it’s still embezzlement.
Where's the buyback? This is only a share exchange program. Kind of reminds me of the PAIM buyback scam.
Five things that scream scam:
1. They are not "buying back" anything. It is a 1:1 preferred for common split.
2. How can the preferreds have a value unless they are tradeable or convertable for cash. If they do trade the market sets the price not the CEO.
3. Any reduction in the float will be replaced by dillution once the preferreds become convertable in a year.
4. Preferreds are convertable to RESTRICTED commons after a year. That means if you choose to convert to the preferreds, your shares are restricted for 2-3 years. (1 year for the preferreds and 1-2 years for the commons under rule 144)
5. If the preferreds do hold their $.50 value until the one year conversion time, Everyone holding them is losing potential profit each time the PPS of the commons increases.
But that 132M at the time was 83%. Haven't seen a Form 4 for a while now.
When the CEO holds more than 50% of the shares, to whom does he have to be accountable?
I was thinking more along the lines of class action lawsuit for embezzlement, misappropriating company equipment and finds, and violations of Rule 175. But when the CEO is ficticious who do we go after? The largest shareholder? Winick?
13,608,156,305 X 10,000 = 136,081,563,050,000
If the TA issued 176T PFD's, he F'd up big time.
You are partially correct. The naked short seller does not have a right to the PFD's. But the person that purchased the naked short shares doesn't get the PFD's either. (or do they?) If you purchased naked short shares, there is no actual physical certificate and thus the TA would not print the PFD certs to give that position.
Just being a shareholder of record does not always mean there is a certificate to go with your position. That is why it's called a Failure to Deliver. The seller failed to deliver the stock certificate. and with naked shorts, there never was a certificate to deliver.
I think you are missing my point. Individuals that purchased naked short shares (FTD's) will still be shareholders of record. If I sold you 10mil fake shares electronically, then never sent them to you physically, your broker will still show you as having them and will show you as a shareholder of record.
I talked to the TA last thursday. He told me that they were talking to the DTC about making them elligable and having them trade in blocks. The TA was not sure of the size of the trading blocks as it hasn't been determined yet, but did say that they will be trading through the DTC.
As far as the brokerages and the DTC are concerned, the shareholders of record will also include individuals that purchased Naked Shorts (FTD's) You are right, the total number of PFD's shouldn't have been calculated on the O/S, it should have been calculated based on the Float. Then it's just simple accounting. If the number of shares held by the shareholders of record is larger than the Float, then there is a Naked Short.
The response I got from TDAm is that as soon as they are DTC elligable, they will be trading them electronically. We need to put pressure on Sandy and the TA to file the forms to get BKMPP DTC elligable.
I think you want to reverse that.
The number of PFD's issued SHOULD have been decided based on the O/S. If the PFD's were distributed based on the number of shareholders of record and their holdings, then extra PFD's would have been issued to the holders of FTD's.
The TA and Sandy have the final word is to how many PFD's are/were issued. The DTC, by way of the contra cusip, provided the TA with a list of the shareholders of record. It would be up to the TA to distribute the PFD's and to make sure that list agreed with how many shares were outstanding.
The latest word I got from TDAmeritrade is that they are waiting to recieve shares of BKMPP from other brokerages.
When I called last Friday, I was told that there were some individuals that switched from other brakerages to TDAm between the record date and the payable date for the BKMPP divy.
TDAm has recieved all of the shares due to clients that held a position in BKMP as of the ex-date, but is waiting to distribute them until they get the shares for the new clients that did not have a position with TDAm as of the ex-date and have since become clients.
Sounds like a bunch of B.S. to me. I was told that there wasn't much i could do other than writing to the compliance dept. and having my objection noted on my account.
The trading of the Preferreds has more to do with Sandy and the T/A filing the proper forms with the DTC than they do with the OS. A security being "DTC elligable" is not a random decision or condition. Sandy and the TA need to file with the DTC to make them elligable, then the preferreds will trade.
I would like to know how you got your shares and I didn't. Not blaming you, but I just recieved an e-mail from TDAmeritrade and they said they didn't have enough BKMPP to hand out the Divy to eveyone that deserves it.
"Once we have received the additional shares of Blackout Media that are owed to us from other brokerage firms as a result of transfers and sales that occurred prior to the ex-dividend date, we will request a breakdown of our certificates into beneficial owner name and the shares will be mailed to you at the address on file for your account.
Laurie W.
Apex Reorganization and Safekeeping, TD AMERITRADE"
On 11/8/06, TD AMERITRADE Apex <apexclientservices@tdameritrade.com> wrote:
> Mr. XXXXX,
>
> The cusip number 09250L994 reflects a "contra" position for the preferred shares of Blackout Media Corporation.
>
> TD Ameritrade recently implemented a business decision that the preferred shares of Blackout Media Corporation will not be able to be held with TD Ameritrade. Once we have received the additional shares of Blackout Media that are owed to us from other brokerage firms as a result of transfers and sales that occurred prior to the ex-dividend date, we will request a breakdown of our certificates into beneficial owner name and the shares will be mailed to you at the address on file for your account.
>
> Laurie W.
> Apex Reorganization and Safekeeping, TD AMERITRADE
> Division of TD AMERITRADE, Inc.
I just got off the phone with the TA. He said that ALL BKMPP shares were delivered to the DTC and distributed to brokers on September 20. Your broker has them. I'm waiting to hear back from TDA about the issue at the moment.
I also asked him about BKMPP trading through the DTC. He said they are trying to work out what type of blocks it will be traded in.
Yes, I am logged in. And in the US
BKMPP is working for me on TDAM. Doesn't recognize it as tradeable, but at least I can get a quote.
Maybe because most brokerages only will place orders to 4 decimal places.
Since we are already paying for the domain, Sandy should have it redirect to the TFN website. A button on the TFN site with investor info for BKMP wouldn't be all bad either.
I'll save that for the next chapter in my new book.
Here's the scenario:
Ron has aspirations of being an oil tycoon but has two failed oil companies in the 80's and early 90's. Drops off the radar for 10 years, then suddenly becomes President of a Diabetes supplement distributor on 9/23/2004. A month later he gets Suncrest Energy Inc.
What is his association to Winick that he gets two FDCH spin-off companies in late 2004?
Ron starts/acquires four companies within a month. (three within two days) HEE Corp - 9/23/04, AAT Investments - 10/18/04, Marathon USA Corp - 10/18/04, Suncrest Energy Inc - 10/19/04.
Winick and Brooks stand together in Hutchinson as they announce they are buying the old hospital for HEE Corp. It is a grand celebration including rides in the new corporate helicopter. Brooks also leased a private jet for the company.
The deal for the old hospital building fell through due to lack of money.
On 4/6/05 two new businesses were started by Ron and Randy Brooks, Suncrest Drilling Corp. and Suncrest Oil Corp. respectively.
By 2/8/2005 David Alexander is listed as President and CEO of the company with the new corporate address in Los Altos, CA. Suncrest was never listed as a corporation in CA, it stayed in KS with Brooks until 7/15/2006.
We know Ron was having financial difficulties because of the suit for breaking the lease on the jet. There was also the investigation at HEE Corp. If he did in fact steal the $500,000 worth of product from HEE, could he not do the same thing with Suncrest?
the following is a work of fiction until proven in court
But how do you steal and sell 4 oil rigs? You start a separate drilling company to handle the actual operations of oil extraction and hold the land leases and the original is left as a shell. You next have your brother start an oil drilling company with a similar name to your company, then transfer the equipment into the name of the new company.
But what if you're really strapped for cash? You work out a deal to buy assets from an old friend using stock that you know will be worthless, but this won't matter because the stock will be given out as dividends to the investors in your friends business. (If you're smart you also buy stock in your friends business to catch the spike on the dividend announcement)
You then sell off the equipment and rights from the mine you bought then sell the shell company that's left for a quick buck to a company looking to go public without having to do an IPO.
Then you find some your old friends from Toronto and you sell out your share in the company so they can do a pump and dump with false PRs about drilling contracts, Russian oil companies, and contracts with Singapore PR firms that sound like they're from Denver, CO.
The only thing left to do is make up a fictitious CEO and "move" the company to some SE Asian country.
Did a little research this evening and came up with something interesting.
Ronald Brooks, before taking over HEE Corp, ran a number of oil companies in Huchinson KS. See if any of the names sound gamiliar.
LONESTAR OIL CO., INC.
C/O RONALD D. BROOKS
P.O. BOX 1702
HUTCHINSON, KS 67504
11/16/1982 - 2/15/1985
COMMONWEALTH PETROLEUM CORPORATION
PO BOX 2458
HUTCHINSON, KS 675042458
Resident Agent
RONALD D. BROOKS
3008 MISSION DR
HUTCHINSON, KS 67502-0000
12/23/1986 - 7/15/1994
HEE CORP. KANSAS, INC. (FDCH spinoff)
RON BROOKS
6209 N K 61 HIGHWAY
HUTCHINSON, KS 67502
9/23/2004 - 7/15/2006
AAT INVESTMENTS, INC.
RON BROOKS
3916 W. 56TH
HUTCHINSON, KS 675020000
10/18/2004 = 7/15/2006
MARATHON USA CORPORATION
RON BROOKS
6209 N HWY 61
HUTCHINSON, KS 67502
10/18/2004 - 7/15/2006
SUNCREST ENERGY, INC. SNYY/AMSN
RONALD D. BROOKS
6209 N. K 61 HIGHWAY
HUTCHINSON, KS 675020000
10/19/2004 - 7/15/2006
SUNCREST DRILLING CORP. (Maybe doing the actual drilling?)
RON BROOKS
6209 N K-61
HUTCHINSON, KS 67502
4/6/2005 - 7/15/2006
SUNCREST OIL CORP.
RANDY BROOKS
3916 WEST 56TH (Same addy as AAT INVESTMENTS, INC.)
HUTCHINSON, KS 67502
The last time SNYY/AMSN was drilling and making any money was right after the spinoff from FDCH/BKMP in 2004-05. In 2005 Brooks had a judgement against him in the amount of $800,000 for defaulting on the lease of a jet in FL. Brooks was also under investigation in Feb 2005 for the theft of $500,000 worth of merchendise from HEE Corp.
David Alexander was writing the PRs but the company was still in KS during 2005-06. Ron Brooks' name never appears on any PR that I have found.
There is a connection through the addresses of Suncrest Oil Corp (Randy Brooks) and Suncrest Energy Inc (Ron Brooks). I have someone working on confirming the relationship. Also last spring I placed a call to Suncrest Oil Corp and asked if there was any connection. The woman on the phone said she had not heard of Suncrest Energy. From the above facts she was obviously lieing.
IMO those are some preety serious pieces in the puzzle to where our missing drilling equipment, and land leases went.
Here's another one for you: PR about actual working oil rigs in KS from Dec 8, 2004.
Suncrest Energy, Inc. (SGYY on OTC Pink Sheets) is pleased to announce that three oil wells are currently into production in Reno County Kansas.