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market cap is $130 million and total assets in company under $1 million. They are paying all of that for stock promotion.
I'd say it's going down.
http://siliconinvestor.advfn.com/readmsg.aspx?msgid=23612064
I think it already made it's post promo move up into the 1.70's the other day.
State the number of shares outstanding of each of the issuer’s classes of common equity, as of the latest practicable date: As of May 10, 2007, we had 101,161,558 shares of common stock outstanding, $0.001 par value.
At March 31, 2007, there were warrants to purchase 25,300,000 shares of the Company's common shares outstanding. The exercise price of the warrants is $0.07 per share
How come YCKM has no board on IHub, or anywhere else?
First, I'm short the stock.
Second, when I see posts that I think are un-true, I feel the need to counter them with facts.
My post was taken directly from the 10Q, at which time the reverse split was done.
Don't expect a free lunch. It ain't happening.
Who is Linda Contreras and why is she CEO of TEXG?
On April 26, 2007, Terax entered into a Purchase and Sale Agreement with Westar Oil, Inc. (“Westar”) pursuant to which the Company agreed to sell approximately 3.8 million shares of its common stock to Westar. The 3.8 million shares will be approximately 55% of the total outstanding and issued shares of the Company once the transaction is completed. At the initial closing, Terax sold 618,000 common shares at a price of $0.21 per share for a consideration of $129,780. Pursuant to the terms of the Purchase and Sale Agreement a second closing will be held, provided that as of July 15, 2007, there shall not be any bankruptcy or insolvency proceeding against the Company, pursuant to which Terax will sell to Westar the remaining 3,182,000 share of common stock a price of $0.21 per share or total of $668,220. Westar has represented that the shares are for investment purposes and there is no provision in the agreement for registration of the shares. As part of the agreement, Terax agreed to elect Westar’s nominee for a Director and Chief Executive Officer of the Company.
Total current assets 14,223
Total current liabilities 9,723,431
Since inception, Terax has accumulated losses aggregating to $9,847,818, negative working capital of $9,709,208 and has insufficient working capital to meet operating needs for the next twelve months as of March 31, 2007, all of which raise substantial doubt about Terax's ability to continue as a going concern.
Terax has numerous litigation related matters, see Note 6 for details, which also raise significant doubt about Terax’s ability to continue as a going concern.
If that were the case, then the price would be $6.75 right now, or perhaps a tad less for time value of money and the risk the deal is not completed.
This is starting to sound like Rufus Harris and his "re-set the stock price" scam.
R&D expenses in Q1 2007 - $27,150
I think my wife spent more than that.
Harmel S. Rayat, President
1628 West 1st Avenue, Suite 216
Vancouver, British Columbia, V6J 1G1
Telephone: (800) 213-0689
Facsimile: (604) 659-5029
United States of America
before the
Securities and Exchange Commission
Securities Act of 1933
Release No. 8306 / October 23, 2003
Administrative Proceeding
File No. 3-11308
--------------------------------------------------------------------------------
In the Matter of
EquityAlert.com, Inc.,
Innotech Corporation,
Bhupinder S. Mann,
Harmel S. Rayat,
T&G2, Inc. and
Virilitec Industries, Inc.,
Respondents.:
:
: ORDER INSTITUTING PUBLIC CEASE-AND-DESIST PROCEEDINGS, MAKING FINDINGS AND IMPOSING A CEASE-AND-DESIST ORDER PURSUANT TO SECTION 8A OF THE SECURITIES ACT OF 1933
Vancouver, BC – April 23, 2007 – Octillion Corp. (Symbol: OCTL) today announced it has completed a $500,000 private placement with accredited investors. The Company sold 1,000,000 units, with each unit consisting of one common share and three share purchase warrants. In total, inclusive of the proceeds to be received from the exercise of the warrants, the Company will receive $2,150,000 from this funding.
That averages out at $0.50 per share.
from the 10Q "Among the Company’s current research and development activities are the development of 1) a patent-pending technology that could adapt existing home and office glass windows into ones capable of generating electricity from solar energy without losing significant transparency or requiring major changes in manufacturing infrastructure, and 2) technologies and products for peripheral and optic nerve damage and nerve regeneration."
Total Assets $594,921
"In August 2006, the Company, through its wholly owned subsidiary, Sungen Energy Inc., entered into a Sponsored Research Agreement (“Research Agreement”) with scientists at the University of Illinois (“UOI”) for the development of a new patent-pending technology using nanosilicon photovoltaic solar cells that could convert normal home and office glass windows into ones capable of converting solar energy into electricity with limited loss of transparency and minimal changes in manufacturing infrastructure. The process of producing silicon nanoparticles is supported by 10 issued US patents, 7 pending US patents, 2 issued foreign counterpart patents and 19 pending foreign counterpart patents. The period of performance of the Research Agreement is for two years until August 22, 2008 and the Company has to pay $219,201 for the performance of the project, with $2,000 payable upon execution of the agreement (paid), first installment of $27,150 payable on September 23, 2006 (paid) and the remaining 7 of $27,150 each payable every three months thereafter ($27,150 paid)."
Meanwhile the market capitalization is in the $75 million range.
Keep in mind that I am a short seller - my bias is almost always negative.
Judging by the people involved and the price paid for the technology, I assume the technology is either non-existent or fatally flawed.
My opinion.
=DJ IN THE MONEY: Paid Promotions Send Sun Cal Stock Flying
June 12, 2007 13:46
By Carol S. Remond
A Dow Jones Newswires Column
Ask the stock promoters, and they'll tell you Sun Cal Energy Inc.'s
(SCEY) headed for its day in the sun. Yet its financials are more akin
to a bleak February morning.
Sun Cal came to life as a publicly traded company last October when
Canadian executive George Drazenovic bought a corporate shell named
Host Ventures Inc. for $250,000 from Colorado-based William Stewart.
Yet almost overnight, Sun Cal, which calls itself an exploration-stage
mineral company, has transformed itself into a $254 million company
sporting extraordinary trading volume, despite having no revenue,
plenty of losses and only $268,000 in the bank.
And the stock promoters promise even greater riches: "Sun Cal Energy
(SCEY) is under $3.50 and on it's way to $55," clamors the Elite
Stock-Market Advisory newsletter, while James Rapholz in his Economic
Advise report says at $3 a share, it's a "sitting duck" with a
takeover price of at least $90.
Or course, both newsletters are paid advertisements and investors
should instead look to Sun Cal's history before getting into the
stock.
Drazenovic was Sun Cal's sole executive until May 1 when the company
hired Joseph Lewis Dillman, a Vancouver-based executive with a long
history of involvement in the small-cap market to take over as chief
executive and president. Neither Dillman nor Drazenovic, who remains
Sun Cal's chief financial officer, treasurer and secretary, returned
several telephone calls seeking information.
According to information available online, Drazenovic is a certified
accountant with political aspirations. He ran unsuccessfully for
parliament in the Vancouver suburb of Burnaby-Douglas in 2004 and
2006. According to a stock ownership form filed with the Securities
and Exchange Commission on March 23, Drazenovic owns 42.8 million
shares of Sun Cal. The company's most recent quarterly report shows
that there were 79 million shares outstanding as of May 17.
Sun Cal describes itself in its quarterly SEC report in May as an
"exploration stage company, which means we are engaged in the search
for mineral deposits (reserves) which are not in either the
development or production stage. We have not generated any revenues
from our operations and have achieved losses since our inception."
Dizzying Stock Market Value
If Sun Cal's lack of revenue isn't a deterrent, investors might
wonder about the company's dizzying stock market value and that high
trading volume. Almost 12.5 million shares of Sun Cal changed hands in
the four days trading week following the Memorial Day weekend. So far
this month, more than 21 million shares of Sun Cal have traded.
Maybe it has to do with some mining rights the company acquired
through one of its subsidiaries? Or maybe it has to do with the
$105,000 paid by Pinnacle Energy Investments to promote Sun Cal stock?
That payment is mentioned in the disclosure statement of the Elite
Stock-Market Advisory newsletter. There is no information available
about who controls Pinnacle or whether the firm is a Sun Cal
shareholder.
In March, at about the same time that promotional reports started
touting the company's stock, Sun Cal acquired all the common stock of
Sun Cal Energy Corp., a wholly owned subsidiary. Under that
transaction, Sun Cal also indirectly acquired 100% of Sun Cal Energy
Canada Corp., itself a subsidiary of Sun Cal Energy Corp.
Which brings us to Sun Cal's only "assets."
Last October, right around the time Drazenovic bought the Nevada
shell that helped take Sun Cal public, Sun Cal Energy Canada acquired
a 1.5% royalty interest in an oil and gas lease known as the Hobart
Lease from TriMar Energy Partners Inc. for $525,000 and stock. Sun Cal
Canada also acquired a 45% interest in oil and gas leases known as the
Lokern Leases from Western Energy Capital LLC for $125,000 and 1.3
million shares.
There is very little information available about the two firms that
sold those leases.
Documents filed with the SEC show that TriMar and Western Energy
share the same executive, Steven C. Marshall. The firms' names don't
show up in any other SEC filings. Searches on the Internet don't
provide any information about the two entities or whom they might have
done business with in the past. State corporate databases show that
TriMar is a corporation in good standing in California, while Western
Energy is a domestic limited liability company in default in Nevada.
Marshall told Dow Jones Newswires that the shares received by
Western Energy and TriMar are restricted and that he hasn't sold
stock. He said that he sold some assets to Sun Cal but that he knows
"very little about the company itself." Marshall said he never heard
of Pinnacle, the entity that paid for the promotion of Sun Cal's
stock.
Beneficial Leases
So far, those leases have proven quite beneficial to Sun Cal, at
least when it comes to its stock price.
Following a May 30 press release in which Sun Cal heralded the
"successful drilling and testing of its deep development well in
Washita County, Oklahoma," the company stock gained almost a dollar
over the next 24 hours, closing at $3.70 a share on May 31.
Now, remember the 1.5% royalty interest acquired from TriMar Energy?
Sun Cal could stand to receive a tiny fraction of revenue from oil
found on land for which it owns a portion of mineral rights: That's a
far cry from the way Sun Cal described a well operated by Marathon Oil
Corp. (MRO) as its own in a press release that prompted a feverish
jump in trading volume.
And what about the 45% right in these Californian leases purchased
from Western Energy?
According to an independent review of the prospect posted on Sun
Cal's Web site, it would cost more than $4.5 million to drill a 15,500
foot well to test previously discovered hydrocarbons there. The review
describes the Lokern Prospect as "attractive based on the known
presence of hydrocarbons."
Optimists might simply argue Sun Cal's trying to cash in on its
assets. But here again, the information presented to investors isn't
complete.
That independent review by Kansas-based geologist James Melland
wasn't prepared in March for Sun Cal or even Western Energy as its
front page suggests. It was written some six years ago for a now
defunct energy company named Pohle Oil & Gas. Melland said that Western
Energy's Marshall asked him whether he could use the Pohle report and
that he updated it with some recent information and handed it to
Marshall. "They pay me for my time. I have no interest in Sun Cal,"
Melland said when asked whether he is a shareholder.
Then there's Sun Cal's private placement on May 10.
If the company is on the verge of a huge payoff as oil prices
continue to climb, as suggested by those promotional reports, why did
it sell 900,000 units consisting of one share and a warrant to buy
another share for $1.50 at a steep discount?
Sun Cal said in a filing with the SEC that it sold 900,000 units to
a non-U.S. person for $900,000. That means two shares for $2.50 ($1
for the share embedded in the unit and $1.50 when the warrant is
exercise). Sun Cal's stock closed at $2.27 a share on May 10.
What's sure is that someone has made a lot of money, selling stock
into the promotion paid for by the enigmatic Pinnacle Energy. But it's
very unlikely that investors receiving those promotional newsletters
and buying Sun Cal stock will see the same result.
(Carol S. Remond is an award-winning columnist who won a Gerald Loeb
Award in 2005 for best news service content with "Exposing Small-Cap
fraud," a series of articles that described how three small companies
unscrupulously pumped up their stocks.)
-By Carol S. Remond, Dow Jones Newswires; 303 997 5783;
carol.remond@dowjones.com
(END) Dow Jones Newswires
06-12-07 1346ET
Copyright (c) 2007 Dow Jones & Company, Inc.
Thank you for the insight into the German goings-on. Much appreciated.
As long as everyone knows that this is the situation, that's fine by me. It's the lack of honesty that really sticks in my craw.
I'm sorry, I should not have said YOUR court. Was not trying to provoke conflict. Should have said in the "Long's court" or somesuch.
Regards, Peter
yes, sir - this board is for RVNG.
http://www.stockhideout.com/62998-post1963.html This piece pretty much sums it up.
gee, QEGY sort of sounds like Fairmont. And RVNG too I deduce.
the defendants caused the
price of the stock to increase from $.30 (Canadian) to $3.10 (Canadian) per
share between January and June 1993 by (1) paying kickbacks totaling
$540,000 to stockbrokers in the U.S. for inducing their customers to
purchase more than one million shares of Fairmont stock, (2) creating the
false appearance of an active market in Fairmont stock by buying and
selling large quantities of the stock, including wash sales and cross
trades, and (3) controlling the timing and pricing of certain transactions
What is most important is the content of the message. This stock has folks with known reputations for stock scamming involved.
That's important. Have they suddenly turned into successful resources execs, or are they merely repeating what they have done so successfully before - ripping people off?
The ball is in your court to demonstrate that this is a legitimate company which intends to discover natural resources - not just intends to sell stock to a gullible public.
http://www.investorshub.com/boards/quotes.asp?ticker=qegy&qm_page=25022&qm_symbol=QEGY
Take a zander (er, gander) at the two year chart.
The future of RVNG. QEGY had the same folks involved.
So, who is behind the entities that have provided all of the funding (teeny tiny as it is) to RVNG?
Zander and Paradisus. Whose entities are those?
In May of 2006, the Company received $3,000 in advances from its president. The balance is non-interest bearing and due on demand.
On May 25, 2006 the Company borrowed funds in the amount of $75,000 from Paradisus Investment Corp. The Company wired $75,000 on the same date to Tara Gold Resources Corp. as part of a purchase agreement between Raven Gold Corp. and Tara Gold Resources Corp. for “Las Minitas” property.
On May 26, 2006 the Company borrowed funds in the amount of $75,000 from Paradsus Investment Corp. The Company wired $75,000 on the same date to Tara Gold Resources Corp. as part of a purchase agreement between Raven Gold Corp and Tara Gold Resources Corp for “La Currita” property.
On June 25, 2006 the Company borrowed $50,000 from RPMJ Corporate Communications Ltd. The Company wired $50,000 on the same date to Tara Gold Resources Corp. as part of the purchase agreement between Raven Gold Corp and Tara Gold Resources Corp for “La Currita” property.
On June 27, 2006 the Company borrowed $175,000 from Zander Investment Limited. The Company wired $175,000 on the same date to Tara Gold Resources Corp. as part of the purchase agreement between Raven Gold Corp. and Tara Gold Resources Corp. for “Las Minitas” property.
On July 27, 2006 the Company borrowed $50,000 from Zander Investment Limited. The Company wired $50,000 on the same date to Tara Gold Resources Corp. as part of the purchase agreement between Raven Gold Corp. and Tara Gold Resources Corp for “La Currita “ property.
On October 3, 2006 the Company borrowed $200,000 from 1230144 Alberta Ltd., a private corporation. The loan is non-interest bearing and due on demand.
CONFIDENTIAL LOAN AGREEMENT
Borrower: Raven Gold Corp. (the “Company”)
Lender Paradisus Investment Corp. (the “Lender”)
7- Magnolia Place
Osoyoos B.C., Canada VOH 1V1
Structure: Loan (“LOAN”)
Date of Agreement: May 17, 2007 (the “Closing Date”)
Effective Date of
Agreement: August 11, 2006 (the “Effective Date”)
Principal: $50,000 USD
Short RVNG. Stock scam. imo
RVNG has an indicted stock promoter involved with it. He settled the charges, and therefore was not convicted.
If that allegation is untrue, I certainly apologize for posting it. At least I called it an allegation at the time, not a certainty.
I still have my personal doubts, though.
Hi, could you show a link to that information re Markus Frick. Trying to find out more about it. Thanks
http://de.finance.yahoo.com/q?s=DQA1.F
Looks like RUSO was way down in Frankfurt last night.
I'm not sure. Does this stock trade in Germany. I know SGDM was down in Germany, and just following that action here today.
Wow, that's a lot of damage.
Still, keep in mind it's just a shell with an agreement. No real value there most likely.
Apparently some kind of exposure occurring in Germany. That's what I gather from the SGDM thread here on Ihub.
They were pumped by Markus Frick I think, and now that's falling apart. It's all a little vague to me.... I wish I could read German.
More extreme damage to SGDM and SERGE this morning. SGDM down 48%. SERGE down 22%. RUSO down 18%.