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Precisely, imo.
It's still hard to believe that all these faxes and spams and such would emanate from a sound business.
$450k is nothing these days - pretty much the smallest you'll see. I've seen over $1.5 million. Postage alone probably eats up a good share of that amount.
http://siliconinvestor.advfn.com/subject.aspx?subjectid=56743
Link to that article:
http://seattletimes.nwsource.com/html/biotech/2004060913_cellcyte09.html?syndication=rss
they have some attachments also
Hi Bell:
What's the name of that mailer please? Does it say who paid the $630,000. Who is the publisher?
Thanks
Sunday, December 9, 2007
CellCyte shares ride a wave of hype
By Ángel González
Seattle Times business reporter
Source: Bloomberg News
For years, the founders of CellCyte Genetics relied on infusions from angel investors to keep their tiny startup afloat. But after Kirkland-based CellCyte combined with a moribund public company, its shares caught fire this fall in the loosely regulated over-the-counter (OTC) market and on Germany's Frankfurt Stock Exchange.
A wave of glossy brochures and spam faxes, touting CellCyte with lofty claims, has helped propel the company's total market value to more than $440 million. That's greater than many local biotechs that are far more advanced in developing therapies. Suddenly, the two founders each have a stake worth about $137 million.
The barrage of hype has been bankrolled, to the tune of hundreds of thousands of dollars, by an outside stockholder — a man whom British Columbia securities regulators have barred from their industry for 15 years.
CellCyte Genetics Chief Executive Gary Reys says he is not concerned about that history, and insists he has no role in the promotional push.
He says the skyrocketing trading volume is simply an "amazing" show of investor confidence in his company's technology for manipulating stem cells, which is still a year away from its first early-stage clinical trials.
A former mining stock
CellCyte bought an inactive B.C. mining company whose stock trades in the OTC market in the U.S., and completed a private placement that let a well-known Canadian promoter of penny stocks acquire millions of shares. A few months later, the spamming began.
That's a pattern familiar to the B.C. Securities Commission, which is trying to crack down on stock-promotion schemes. It "is not untypical of the problem we're facing," said Martin Eady, head of corporate finance at the B.C. Securities Commission.
The commission is writing new rules to restrict what Eady calls a "subculture" of pump-and-dump stock promoters that have thrived in B.C. by taking a large position in an inexpensive stock, hyping it, and unloading it onto unsuspecting investors.
Reys maintains that the acquisition of a shell company is a legitimate way of tapping investors while the firm prepares to enter a major regulated market such as Nasdaq. He said CellCyte isn't a fly-by-night company, it's a "brick-and-mortar organization" with experienced researchers and patented technology.
As for the spam activity, he said, "We have no control over it."
Spammed
Last month, investors participating in German stock message boards began asking questions about an unsolicited fax they'd received promoting CellCyte. The fax reproduced a positive story about the company from the weekly newsmagazine Focus Money, based in Offenburg.
There was also a handwritten note in German: "This is the stock that's about to take off! Greetings, Paul."
In a copy of the fax obtained by The Seattle Times, dated Nov. 19, the fax sender is identified as Stockgroup AG. That's a stock-promotion firm based in Zurich, with offices in Bellingham, according to Swiss government records.
The firm's president, G. Brent Pierce, is a Canadian citizen barred by the B.C. Securities Commission from trading shares or acting as an officer of any B.C. public company until 2008. In the 1993 settlement that led to the ban, he acknowledged presenting false documents to the commission and diverting funds from a small public stock offering to his own use.
Pierce controls about 1.66 million shares of CellCyte through a company called Newport Capital Group, according to a regulatory filing with the Securities and Exchange Commission. Those shares were worth about $12.2 million as of Friday, and his wife, Dana Pierce, owns shares worth an additional $2.5 million.
Pierce's firm is also behind a colorful 12-page mailer distributed since early October to potential U.S. buyers of the stock.
Titled "James Rapholz's Economic Advice," the brochure says CellCyte shares "could be the chance of your lifetime to turn $10,000 into $4 million, maybe even $15 million!"
"This could be the most astonishing investment opportunity since the microchip," it says elsewhere. "This truly could be the most astonishing and important medical breakthrough in your lifetime!"
The fine print at the back of the brochure discloses that Stockgroup AG, Pierce's company, paid Rapholz $445,000 to produce and distribute the mailer. Rapholz, who is based in Florida, didn't return several calls seeking comment.
The article reproduced in the German spam faxes, meanwhile, cited a research report by an analyst named Matthias Redenbach of Midas Research.
The report itself discloses that Midas was paid to write it by Michael Drepper Communications, of Mannheim, Germany. Drepper's name appears alongside that of Brent Pierce as an investor-relations contact in many Frankfurt-traded companies.
Reys said he was aware of Rapholz's newsletter, but had never seen the fax in German, though it is easily found on the German chat boards discussing CellCyte stock.
His lawyers investigated Pierce and found nothing wrong, Reys added.
A review of regulatory filings shows Pierce's Stockgroup AG has also promoted other U.S. companies with low-priced shares where he controlled a large block of stock.
One was oil exploration firm Lexington Resources, whose worth plummeted from about $40 million in the summer of 2006 to less than $1 million as of Friday. Another, Morgan Creek Energy, saw its share price drop to 32 cents after trading as high as $5.30 in October 2006. Both companies traded on the OTC and in German stock exchanges.
Pierce did not respond to messages left at his company's Bellingham office.
On a separate front, CellCyte's auditor also has regulatory issues. Just months after the firm, Williams & Webster of Spokane, signed off on CellCyte's 2006 financial statements, the national Public Company Accounting Oversight Board in June took the unusual step of barring one of its two name partners from associating with any accounting firm, and suspended the other for a year, over inadequate scrutiny of a different public company.
Formed in 2003
CellCyte was co-founded by Reys, a onetime executive at big pharmaceutical firms who later headed two biotechs that fizzled out. His co-founder was Ron Berninger, a biochemist who in the 1990s was a senior scientist at the public company CellPro.
Reys and Berninger launched CellCyte in June 2003. Each of them owns a 31 percent stake, which became 18.6 million shares of the public company.
One of their top recruits was Theresa Deisher, a former Amgen scientist who joined CellCyte as vice president of research in September 2006. She quit the company this past October.
CellCyte has licensed discoveries from the U.S. Department of Veterans Affairs, and has obtained a patent for what it describes as a way to harness adult stem cells into regenerative therapies for the heart, and other organs.
Reys calls it a "Microsoft operating system" for stem cells, because instead of focusing on how to create stem-cell lines, the company is working on a system to deliver them where they're needed.
Before merging with the shell company, CellCyte had raised only about $1 million since its founding, including a loan from GBR Investments, a fund set up by George Rathmann, the late founder of Amgen and Icos.
Rathmann's son, Rick, who runs the fund, said the technology CellCyte had licensed looked interesting, and "my father always had an interest in stem cells."
What's more, he said, part of the fund's mission was to help out starting biotechs, and CellCyte's founders were "desperate" for funding.
This past February, CellCyte paid $1 million to acquire a Vancouver, B.C.-based shell company called Shepard Inc. as a vehicle for attracting funding, Reys said. He said that venture capitalists either wanted too much control over the firm or were unwilling to invest in stem cell research. "We wanted to control our own destiny," he said.
Simultaneously with the merger, the company raised nearly $6 million through a private sale of stock to Pierce and other investors, including two firms based in the Turks and Caicos Islands.
These two firms, run by the same person, also appear alongside Pierce in other penny-stock investments. Together with Pierce they control about 10 percent of CellCyte's nearly 60 million outstanding shares.
Reys said these investors "liked the company, they made big investments."
The money served to expand CellCyte's staff to 16 employees, ramp up the company's preclinical research and lease a new facility in Bothell. It also covers annual salaries of $350,000 for Reys and $205,000 for Berninger.
CellCyte in April brought in an outside director — John Fluke Jr., the former CEO of publicly traded Fluke Corp., who's been a board member at such companies as Paccar, Cell Therapeutics and Tully's Coffee.
Reys said the company is looking for two more directors and beefing up its accounting and software systems as it prepares to seek a listing on Nasdaq next quarter.
He says listing a company and selling shares on the OTC market and in Germany is a way to raise capital, and run a debt-free operation while getting there.
"I think you're going to see this route we took become more common," Reys said.
But the company's eye-popping market value, at such an early stage, has raised some eyebrows.
CellCyte hasn't begun the process of testing its technology in humans, and getting Food and Drug Administration approval for any new drug will take many years.
The value "is a little high considering not a lot has happened yet," said Alan Leong, an analyst with Seattle-based Biotech Stock Research. He said companies focusing on early-stage technology such as stem-cell research tend to polarize investors: their valuations are either "really low, or really high," he said.
Reys said the German market reacted favorably to CellCyte because "Germany is well ahead of the U.S. in stem-cell research." Interest also picked up after the company presented its research at a scientific meeting early last month.
He said the founders aren't poised to benefit from the frenzy around CellCyte because their stock can't be traded yet.
"It doesn't do me a lot of good," he said.
Ángel González: 206-515-5644 or agonzalez@seattletimes.com
Copyright © 2007 The Seattle Times Company
PREV 1 of 2 NEXT
DEAN RUTZ / THE SEATTLE TIMES
Gary Reys, CellCyte Genetics chief executive, says the skyrocketing trading volume is an "amazing" show of investor confidence in its technology for manipulating stem cells.
Related
12-page mailer financed by G. Brent Pierce (PDF)
Disclosure of payment by Pierce's firm (PDF)
German spam fax on CellCyte Genetics (PDF)
Translation of CellCyte's German spam fax (PDF)
B.C. Securities Commission order ÂÂ- G. Brent Pierce (PDF)
Accounting board's order - auditor of CellCyte (PDF)
Archive | Eight indicted in securities-fraud scheme
CellCyte timeline
2003-2005: The company raises $1 million from early investors.
January 2007: CellCyte agrees to combine with Shepard, a B.C.-based shell company that trades in the over-the-counter (OTC) market.
March 2007: Merger is completed and CellCyte raises $6 million from private investors including Canadian stock promoter G. Brent Pierce. Shares begin trading on OTC and the Frankfurt Stock Exchange.
Summer 2007: Company enters several research partnerships and leases a new facility in Bothell.
October 2007: Glossy paid promotional newsletter, James Rapholz's Economic Advice, is sent out to potential stock buyers.
November 2007: CellCyte receives a patent for its technology. Trading of stock intensifies as readers on German discussion boards ask questions about promotional spam faxes.
Source: Securities and Exchange Commission, Bloomberg News, Seattle Times
CellCyte ranks high among the region's public biotechs in total market value
ZymoGenetics: $1,017 million
Seattle Genetics: $842 million
Dendreon: $465 million
CellCyte Genetics: $441 million
Northstar Neuroscience: $229 million
Trubion Pharmaceuticals: $190 million
Cell Therapeutics: $134 million
Nastech Pharmaceutical: $99 million
Targeted Genetics: $38 million
Sonus Pharmaceuticals: $20 million
I have trouble believing a rice company can make 35% net margins. Hello, rice is a commodity.
Also, don't like the Trilogy, Mr. A.J. Cervantes involvement. Huge red flag. check his history.
Pumps are conducted for one reason, and one reason only - to sell stock.
Here's the fax:
http://siliconinvestor.advfn.com/readmsg.aspx?msgid=24111948
I would assume that it's being sent out by the people who bought 20,000,000 shares at $1.00 in June.
Have you looked at their financial statements? They're pitiful.
Which office would I address?
Hey Blue:
How is it that RMDX can trade 10 million shares per day - that's $40 million worth - and not have any postings at all on any of the message boards?
Do you have an explanation for that?
Peter
Well, I don't know who you are, but I did see the article you mention. Thanks
Did you ask Mr. Goralnick if he knows his old friend David Craven is the one sending out the spam?
aye yi yi
"Someone wants in this cheap"
well, somebody already is in it cheap - the lying insiders who have zillions of shares to sell you! Buy buy buy
Make em happy
Chris Metcalf
Mr. Metcalf is an executive with extensive private equity and investment banking experience, and he brings a background in operations, strategic planning, corporate governance, and financial management. Since February, 2006, Mr. Metcalf has been a Vice President with GF Private Equity Group LLC, where he served on the investment committee which was responsible for all aspects of the venture capital investments for the Southern Ute Indian Tribe. Mr. Metcalf's investment focus encompassed venture capital opportunities in early to growth stage companies in a wide variety of fields, including the clean technology, application and enterprise software, hardware, information technology, homeland security, and financial services sectors. During this time, Mr. Metcalf was also the President of Altitude Funds LLC, which sponsors and manages premier private equity partnerships on behalf of the GF Private Equity Group. From October, 2002 to February, 2006, Mr. Metcalf was a Vice President of Morgan Stanley (Graystone Research Group) where he was a portfolio and research analyst covering a variety of private equity and hedge fund investments. The Graystone Research Group builds customized private equity, real estate, and hedge fund portfolios for ultra high net worth individuals and institutions. As an investment professional, Mr. Metcalf brings with him significant venture capital experience in advanced oil and gas discovery technologies, including 3D seismic interpretive software and new surface geochemical survey technologies. In addition, Mr. Metcalf has expertise in advanced automated drilling rig technologies that are being used by major exploration and production companies.
Mr. Metcalf received a Bachelor of Science in Commerce from the University of Virginia, a Juris Doctor degree from the University of Virginia School of Law, and an MBA from the University of Chicago Graduate School of Business where he graduated with Honors. Mr. Metcalf is currently a member of the California and Virginia State Bar Associations.
Citron Research comments on RemoteMDX (OTCBB:RMDX)
Posted in Citron Reports by CitronResearch on the December 4th, 2007
stock ticker: RMDX
We are not going to beat around the bush on this one. It is the opinion of Citron Research that RemoteMDX is nothing more than a brazen stock promotion. There are too many red flags to be uncovered in one report, so Citron will do its best to deliver a “Readers Digest” version of a modern day promotion.
RemoteMDX is a Utah-based remote offender monitoring company. To understand RemoteMDX, you have to understand Biomune. RemoteMDX was once a division of Biomune. Most of the senior management at RMDX once came from Biomune, including CEO and Chairman David Derrick.
http://www.remotemdx.com/about/management-team.html
Biomune was a small cap public company that at one time claimed they had a unique technology that gave people the immune system of a cow. After a brief run up, the company was exposed in Barron’s for what it was.
Question Of Immunity (PDF)
Biomume was then the subject of a fraud lawsuit that made the following 3 claims among others.
“action arises from a fraud of massive proportions,” generally consisting of a “scheme to obtain Biomune’s listing on NASDAQ, manipulate Biomune’s finances and inflate the price of Biomune stock in order to dump thousands of Biommune shares on the market and earn million[s] of dollars in profits.”
The Plaintiff alleges that a “fraud network,” consisting of relatives and friends of Solomon and Derrick, effectuated a “cleanup” of Biomune’s balance sheet.
Plaintiff further alleges that during 1993 and 1994, Defendants made false and misleading statements regarding the financial stability and commercial success of Biommune.
http://ca10.washburnlaw.edu/cases/1998/09/97-4074.htm
After a quick 1 for 5 split, the company quickly got delisted from Nasdaq leaving shareholders without immunity from losing their investments.
Enter RemoteMDX. Before we even go into the business or lack thereof of RemoteMDX let us first look at the capital structure.
Share Fully Diluted: 123 million Up over 50% in the last year
Market cap at recent stock price $479 million
Cash $ 2 million Down from $4.8 million as of March qtr end
Working capital deficit $2.9 million
Tangible equity $2.9 million Down from $4.5 million as of March qtr end
Revenues - $3.2 million most recent quarter * Appx 80% below guidance from Sept 2006
* 79% of SecureAlert’s sales during the June quarter were booked to Quest Guard. Quest Guard maintains its headquarters in a fireplace supply store.
Profit/loss from operations ($5.04 million loss) most recent quarter
Profit/loss 9 months year to date ($20.1 million )
(Compare to $21.7 loss prior year period)
The only thing this company has earned is a “going concern” warning from its auditors.
SG&A, which includes the direct expense of sales, exceeded net revenues by over 50% during the last quarter. This is not a promising statistic on the path to earning a profit.
Comparable valuation points
Isecuretrack (OTCBB: ISEC, 10MM mkt cap, $2.2MM revenues last quarter)
Pro Tech (a subsidiary of Dmatek (LSE: DTK, mkt cap ~$50MM, sales ~$20MM)
Pro Tech was acquired in January for $12.5 million
Ok, lets give RemoteMDX the benefit of the doubt and and value it 100% higher than these comparables. At a generous $25 million enterprise value, the stock would be worth 20c.
Managements Unfounded Bold Claims.
CEO Derrick is not shy about making claims that he cannot live up to (as shown in the Barrons Article)
In a press release dated 9/19/06:
“By the end of 2006, it is anticipated that 20,000 parolees will be monitored by SecureAlert, which represents approximately $58 million in annualized revenues.”
http://www.remotemdx.com/newsroom/pressrelease91906.asp
Stated in letter from Chairman in Jan 07 that they are manufacturing 400 units/day six days a week with 38,000 units in the sales pipeline. “…as of December 12th have deployed over 10,000 units to customers with that number growing at the rate of 500 per day, 5 days per week…”
3rd quarter 2007 revenue was $3.1 million. Boy was he off the mark.
Interesting to note that Biomune was not the only time Derrick was sued for stock fraud. He was also sued for Bioxide Corp. With this company, he was going to sterilize airplane cabins.
http://www.highbeam.com/doc/1G1-120509643.html
Questionable Sales
As little sales that are done by RemoteMDX, Citron still questions the quality and validity of their largest customers.
Security Investment Holdings, LLC accounted for 48% of their sales in the 3 months ending Dec 31, 2006. Hmmm. They didn’t seem to mention that Security Investment was not registered as a corporation until Dec 12.
https://secure.utah.gov/bes/action/searchresults
For that matter, it was registered to a man named C Eugene Gronning. Mr. Gronning happens to be a shareholder of RemoteMDX (undisclosed of course) and Mr. Gronning owns a public “shell company” in which his bio never states anything about Security Investment Holdings.
Were these sham transactions?
Most recently, Quest Guard has become the largest customer accounting for 79% of the Secure Alert sales. No other customer was even 10%. Quest Guard is a local Utah based company who does not seem to have much of a detailed history. Because they serve as a distributor and not an end user, we will never know if this transaction is “real”. The only thing we know about Quest Guard is that they share offices with a fireplace distributor.
Financial Health of RemoteMDX
The only thing keeping the EPS loss to a single digit number is the ballooning share count, up over 50% from the comparables a year ago. Lest there be any worry of the supply of shares running out anytime soon, the company has an overhang of warrants and convertible commitments totaling nearly another 20 million shares.
It has a $5,000,000 related party line of credit bearing interest at a whopping 11%. Then 6 million restricted shares were sold to an “investor at less than the current fair market value of the common stock” in order to “induce the investor to enlarge their commitment to the Company, and to further develop a concentrated active investor base”. Sounds like stock promotion to us. The price of that sale was $1.30 per share. The counterparty ADP Management is owned by officers of the company.
Offshore Shareholders.
It is the experience of Citron Research that whenever we see unknown entities in the Bahamas with stock, it is a red flag that should never go unnoticed.
Coval Investment of Nassau – an entity unknown in any other public filing, appearing within the last 6 weeks with a stake going from 8 million to an eye-popping 12.7 m shares, and then down to just 682,465 shares. What could possibly explain this transaction? Citron observes that it would be very convenient for Coval to have transferred 12.1 million shares to nominees now, so subsequent transactions won’t trigger filings. Not just any nominees, but “IIU Nominees LTD”, as we see in a recent filing.
And yet the company was moved to issue another 2.71 million shares via a blank check S-8 in September
Conclusion
At the risk of being overly harsh or exaggerating or at least guilty of using a cliché, Citron will state that we do not believe RemoteMDX stock is worth the paper they are printed on. The related party transactions along with management with a history of dubious stock deals surrounded by offshore shareholders create an investing environment that all investors/shareholders should be conscious of.
Cautious Investing To All
Steve Drayton, Investor Representative
c/o EuroHelvetia Co SA
World Trade Centre
10 Route De L'Aeroporte, Box 691
1215 Geneva 15, Switzerland
Convertible Promissory Note. On October 31, 2006, the Company completed the sale and issuance of convertible promissory notes in the principal amount of US$ 500,000 each for an aggregate total of $1,000,000 (the "Notes"). The Notes were issued to two parties: Felix Holdings Limited ("Felix") and Bank Sal. Oppenheim Jr. & Cie ("Oppenheim"). Prior to the execution of the Notes, there was no relationship between the Company and Felix or the Company and Oppenheim. Felix and Oppenheim on conversion of the Notes will form part of the Investors group under the Contribution Agreement.
http://www.sec.gov/Archives/edgar/data/1330340/000122150807000034/def14av2_mar2307.htm#_Toc162068011
from TCHH most recent 10Q
IN WITNESS WHEREOF the parties hereto have set their hands and seals the day and year first above written.
LUDWIG HOLDINGS LIMITED
/s/ Steve Drayton
TRUSTCASH HOLDINGS INC.
/s/ Greg Moss
Greg Moss, President and CFO
Drayton associated with Craven, did I already post that?
Another Craven investment:
Tornado Gold International
http://www.secinfo.com/d186pn.z34.d.htm
GREEN SHOE INVESTMENT INC.
By: /s/ David Craven
David Craven
Its: Director
This is amusing:
http://geo-corp.com/
that's the domain of the email address on the whois of otcmarketdigest - let's see if it remains as is.
[whois.joker.com]
domain: geo-corp.com
owner: - -
organization: Felix Holdings Ltd.
email: admin@geo-corp.com
address: Box 691
address: 1215 Geneva 15
city: Geneva
state: --
postal-code: 1215
country: CH
phone: +41.638490132
admin-c: CCOM-1003029 admin@geo-corp.com
tech-c: CCOM-1003029 admin@geo-corp.com
billing-c: CCOM-1003029 admin@geo-corp.com
nserver: ns18.zoneedit.com
nserver: ns9.zoneedit.com
status: lock
created: 2007-03-09 17:46:40 UTC
modified: 2007-03-09 17:59:57 UTC
expires: 2009-03-09 16:46:40 UTC
contact-hdl: CCOM-1003029
person: - -
organization: Felix Holdings Ltd.
email: admin@geo-corp.com
address: Box 691
address: 1215 Geneva 15
city: Geneva
state: --
postal-code: 1215
country: CH
phone: +41.638490132
Here's a piece of evidence linking TCHH IR to CDDD and Craven.
http://www.stockupticks.com/profiles/5-7-01.html
more scuzz, Rene appears
http://siliconinvestor.advfn.com/readmsg.aspx?msgid=18165609
Another notable West Vancouver promoter, Rene Hamouth, showed up in late
1999 as the signatory for Winnburn Advisory, a C3D backer based in the
secretive offshore haven of Nevis in the West Indies. Although Mr. Hamouth
is based in Vancouver, C3D is based in New York and Winnburn is based in
the Caribbean, the offshore company used a Swiss address care of David
Craven, using post office box 691 at the Geneva airport.
trackgirl, the IR also worked for CDDD, so I'm inclined to surmise that IR is working with Craven. It really doesn't matter much, because the likelihood of enforcement is so tiny.
They know that, we know that. It's caveat emptor.
I think Rutherford may be a fictitious character. Where did you see the Florida connection?
Just the name coincidence, both with Switzerland connections. Alex is about 24 years old and CEO of FXPE, and his bio talks about working with his father. So, seems like good chance like father like son. Just incidental to TCHH.
Vancouver stock SMVD connection:
MANHATTAN INVESTMENTS INCORPORATED
By: /s/ David Craven
http://sec.edgar-online.com/2000/08/14/08/0000912282-00-000275/Section19.asp
It costs all of $1000 to set up a new corporation. But now that I'm looking, he really hasn't covered his tracks very well. He's supposed to set up domain names anonymously.
The plot thickens:
Googling the address (Box 691, 1215 Geneva 15) yields Constellation 3D (CDDD) results. So perhaps we are really dealing with Mr. Craven. Is he related to Alex Craven of FXPE?
Mr. David Craven
Winnburn Advisory
World Trade Center
10, route de l'Aeroport
P. O. Box 691
1215 Geneva 15, Switzerland
Fax: (+41) 022 799 0801
Re: Amendment of Purchase Price Adjustments in Sec. 7.1
of Common Stock Investment Agreement of August 23, 2000
-------------------------------------------------------
Dear Mr. Craven:
In the context of the current round of financing the Company has concluded
that the existing investment agreements may be ambiguous and should be updated
in order to facilitate the financing. To that end the Company would appreciate
your cooperation in achieving the financing. Therefore, in exchange for 409,511
shares of the Company's common stock (which, if lawful and practicable shall be
registered on the Company's next filed registration statement and/or such shares
shall be included on a registration statement filed within 60 days of the
Company's receipt of a demand registration notice), you hereby irrevocably agree
to the following changes to the Common Stock Investor's Agreement and Appendices
thereto (terminating Article VII thereof):
Amendment: "Article VII of the Common Stock Investment Agreement is hereby
eliminated and no shares shall issue as a result of Article VII and Article VII
shall be deemed to have no legal effect, past or prospective."
This letter shall act as confirmation of your irrevocable agreement to the
above amendment.
CONSTELLATION 3D, INC. ACCEPTED AND AGREED TO:
By: /s/ Raymond Tellini WINNBURN ADVISORY
Raymond Peter Tellini
Vice President of Finance By: /s/ David Craven
Googling Felix Holdings yields a former involvement in PLRO, where they held convertible notes. PLRO was as high as $6.00 earlier this year, and is now at $0.55.
[whois.joker.com]
domain: otcmarketdigest.com
owner: - -
organization: Felix Holdings Ltd.
email: admin@geo-corp.com
address: Box 691
address: 1215 Geneva 15
city: Geneva
state: --
postal-code: 1215
country: CH
phone: +41.638490132
admin-c: CCOM-1003029 admin@geo-corp.com
tech-c: CCOM-1003029 admin@geo-corp.com
billing-c: CCOM-1003029 admin@geo-corp.com
nserver: ns8.zoneedit.com
nserver: ns9.zoneedit.com
status: lock
created: 2006-12-20 21:18:49 UTC
modified: 2007-05-21 23:54:40 UTC
expires: 2008-12-20 21:18:49 UTC
contact-hdl: CCOM-1003029
person: - -
organization: Felix Holdings Ltd.
email: admin@geo-corp.com
address: Box 691
address: 1215 Geneva 15
city: Geneva
state: --
postal-code: 1215
country: CH
phone: +41.638490132
source: joker.com live whois service
query-time: 0.057128
db-updated: 2007-11-29 16:01:35
NOTE: By submitting a WHOIS query, you agree to abide by the following
NOTE: terms of use: You agree that you may use this data only for lawful
NOTE: purposes and that under no circumstances will you use this data to:
NOTE: (1) allow, enable, or otherwise support the transmission of mass
NOTE: unsolicited, commercial advertising or solicitations via direct mail,
NOTE: e-mail, telephone, or facsimile; or (2) enable high volume, automated,
NOTE: electronic processes that apply to Joker.com (or its computer systems).
NOTE: The compilation, repackaging, dissemination or other use of this data
NOTE: is expressly prohibited without the prior written consent of Joker.com.
Verio Inc. - Growing Your Business, One Click At A Time
Domain Information
Domain Name Registration, News
Daily DNS Changes, ICANN Hosting Resources
Web Hosting, VPS, Managed Hosting,
Windows Hosting, Windows Servers
Copyright © 1999-2007
http://www.otcmarketdigest.com/
It does sort of seem that Randall Rutherford is a fictitious character. Not finding nuttin!
Yes, we should. You start!
;]
http://top5stocks.blogspot.com/2007/10/wall-street-stunned-as-tchh-revenues_25.html
http://www.tklview.com/?THOR=0000zy0009eg05nj3t00155f
Randall Rutherford
Founder, OTC Market Digest
IMPORTANT NOTICE AND DISCLAIMER: This featured company sponsored advertising issue of OTC Market Digest does not purport to provide an analysis of any company's financial position, operations or prospects. Trustcash Holdings, Inc. - OTCBB: TCHH, the company featured in this issue, appears as paid advertising, paid by Global Direct Marketing, Inc. on behalf of their client, Iverus Holdings, by their description, a non-controlling shareholder, to provide public awareness for TCHH. Although the information contained in this advertisement is believed to be reliable, OTC Market Digest makes no warranties as to the accuracy of any of the content herein and accepts no liability for how readers may choose to utilize the content. Readers should perform their own due-diligence, including consulting with a licensed, qualified investment professional or analyst. Further, readers are strongly urged to independently verify all statements made in this advertisement and perform extensive due diligence on this or any other advertised company. OTC Market Digest is not offering securities for sale. An offer to buy or sell can be made only with accompanying disclosure documents and only in the states and provinces for which they are approved. Many states have established rules requiring the approval of a security by a state security administrator. Check with http://www.nasaa.org or call your state security administrator to determine whether a particular security is licensed for sale in your state. Many companies have information filed with state securities regulators and many will supply investors with additional information on request. Iverus Group Holdings has paid one hundred thousand dollars for this advertising effort. OTC Market Digest was paid two thousand dollars and expects to receive new subscriber and mail list rental revenue as a result of this advertising effort. More information can be received from TCHH's website, www.trustcash.com. Further, specific financial information, filings and disclosures as well as general investor information about publicly traded companies like TCHH, advice to investors and other investor resources are available at the Securities and Exchange Commission website www.sec.gov and www.nasd.com. Any investment should be made only after consulting with a qualified investment advisor and after reviewing the publicly available financial statements of and other information about the company and verifying that the investment is appropriate and suitable. Investing in securities is highly speculative and carries a great deal of risk especially as to new companies with limited operations and no history of earnings. The information contained herein contains forward-looking information within the meaning of section 27a of the Securities Act of 1993, as amended, and section 21e of the Securities Exchange Act of 1934, as amended, including statements regarding expected growth of the featured company. In accordance with the safe harbor provisions of the Private Securities Litigation Reform Act, OTC Market Digest notes that statements contained herein that look forward in time, which include everything other than historical information, involve risks and uncertainties that may affect the Company's actual results of operations. Factors that could cause actual results to differ include the size and growth of the market, the Company's ability to fund its capital requirements in the near term and in the long term; pricing pressures, technology issues etc.
yeah, par for the course. They are legally required to identify themselves, and have found this way to adhere to the law without yielding any useful information.
Well, the enforcement authorities could track it down, if they were so inclined and often do when there are legal cases brought.
Hello trackgirl:
I just use google to discover what I can. Please see http://siliconinvestor.advfn.com/subject.aspx?subjectid=56743
Peter
Ivana, do you post somewhere when you receive a fax blast? Please do, if you like, at http://siliconinvestor.advfn.com/subject.aspx?subjectid=56743.
Thanks
Ivana: lovely to see your interest here.
As you know, the sponsors of mailers and faxes are almost invariably unknown names, likely a companies set up for that sole purpose. SEC might have to subpoena Rutherford to get the real name. Even then, I've heard that often the publishers themselves do not know who the sponsor is.
In any case, it's pretty obvious, to me, from their financial reports that TCHH share price is way, way too high.