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Wrong. There’s no record of the note. Better yet, their explanation was published by the same “rogue” group that published the fictitious PRs.
It’s getting ugly!
***SHMN OTC-UPDATE 11/1/2018: STILL DEFUNCT & DELINQUENT. Even after 6 straight months of cluelessly claiming they’re days away from fixing their issues
***SHMN DILUTION-UPDATE 11/1/2018: 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.
LOL is that slave labor? They need to explain
Definitely agree SEC suspension expected this week!
Well it’s been about 28 weeks since they claimed it was “days away” and it’s been about 3 years since they were competent enough to throw together accounting numbers that didn’t get rejected by the OTC.. so honestly I guess there’s a 0.1% chance
Or a 50% chance of a caveat emptor finally hitting
Or a 50% chance of an SEC suspension
Or a 50% chance of dilution
Rent for the mailbox is coming due! Zero cash on hand: Time to sell more shares!
Their revenues are entirely from selling shares. Again, no products for sale but they are certainly capable of making up a convertible note from 2014 to an anonymous insider with no verifiable paper trail whatsoever.
Love how pathetic this scam is. Won’t take more than a few subpoenas to expose the truth.
Their numbers are completely fictitious. SHMN has no appproved products that can be sold in the US and their Indian pharmaceutical company is a complete disaster. They’ve been defunct for years.
The PRs are fake
The filings are unverified and unaudited
This all doesn’t take more than a few minutes of due diligence to confirm
SHMN has ZERO sales in the US. SHMN has ZERO presence in the US other than a rented mailbox. They are a shell company set up by a failed and defunct Indian pharmaceutical company for the sole purpose of selling shares to US investors and siphoning the money back to India to avoid bankruptcy.
They incorporated for the sole purpose of exploiting US investors. They’ve borrowed millions in shareholder equity (diluted the stock down to nearly 10% value) without means or intent to return value.
It is a by-definition market scam, if not fraud.
So you cite a PR from the “rogue” publisher that produced their fictitious PRs? I can’t tell if you’re being serious or just making a joke now
They diluted 108 million shares so far. It’s funny how even on 5/4/2018, the day the TA finally updated tthe numbers to reflect the dilution that occurred weeks prior, the misleading daily TA updates still said “NO CHANGE”
Look at the daily TA updates from 5/4/2018 for a good laugh!
“Current” won’t help a worthless shell company that has zero presence in the United States other than a rented mailbox. SHMN exists only on paper for the purpose of exploiting a United States market and sending the revenues made back to India to bail out Sohm from bankruptcy.
No facilities in the United States, no products approved for sale in the United States, no employees and ZERO legitimate assets to show the shareholders and public. All this after borrowing and diluting millions of dollars (approx 80%) from shareholder equity since inception.
No wonder OTC recently downgraded them to defunct.
SEC suspension usually ends with 90% losses in the first few days and makes it nearly impossible to access or sell shares.. resulting in 99-100% losses. Why would anyone even think about putting money into this sinking ship?
The SEC suspended countless companies for publishing fictitious news as well as running pump & dump promotions with an insider to sell shares.
I think it’s obvious this is more of a criminal matter than an administrative one.
Heard “PINK CURRENT SOON” daily for over 180 days now.. what a joke
SHMN on watch for SEC suspension
So.. wasn’t this supposed to be current in March?
You mean employee. SHMN has one employee: the “director”
This rented mailbox-based shell company is a complete disaster
Well looks like they were fooled again! 27+ weeks of false hope LOL
***SHMN OTC UPDATE 10/26/2018: STILL DEFUNCT & DELINQUENT. Even after 6 straight months of cluelessly claiming they’re days away from fixing their issues
LOL love the reference to the same “rogue” publishing medium that SHMN issued a notice to disregard for! Wow! That explains everything about those 108 million shares donated to an unnamed partner that ran the promotion to sell those shares PERFECTLY!
You mean the unverified filings rejected by the OTC over 6 months ago? The unaudited filings from a shell company that published fictitious press releases and tries to portray itself as a legitimate operation headquartered inside a rented mailbox?
SURE
LMFAO
Revenue from what? Selling shares??? LOL
Let me reiterate:
NO APPROVED PRODUCTS
NO DOMESTIC SALES
FOREIGN SALES HALTED
NO PRODUCTION
NO EMPLOYEES
UNDERWATER IN DEBT
ONLY PRESENCE IN US IS RENTED MAILBOX FICTITIOUSLY REPRESENTED AS A PHYSICAL ADDRESS TO INCORPORATE
Do I really need to explain this? How in the world are they generating legitimate revenues other than selling shares as they’ve been doing for years? Do your DD
Regardless, SHMN is still a bankrupt shell company operated out of a rented mailbox in California. No approved products, no sales, no employees no warehouses.
It’s all lies. Like their PRs. Hmm
Doesn’t change the fact they were negligent and incompetent enough to allow a promotion group with an extensive history of scamming and misleading to take complete control of their publishing authority with zero oversight.
They can say “it’s not their fault”
That’s like an executive hiring and allowing a homeless person with an extensive criminal history of financial crimes to take control of the corporate accounts... you already know what happens. Then try to claim “NOT MY FAULT”
What a joke!
REALLY? So when they give complete publishing authority to a questionable promotion group and declined to maintain ANY oversight or verification before their content went public,
NOT THEIR FAULT, RIGHT?
LOL YEAH REALLY
If anything that’s gross negligence
I hope everyone is aware that they silently dumped 108 million shares for a “convertible note” issued in 2014 that had absolutely no publicly documented record or revelation. This is after the company was bold enough to suggest that there was no upcoming plans to dilute further.
What’s even more concerning is that the stock price was artificially inflated 2500% in a matter of days over the long-term average using fictitious news promotions and cross trading.. (blatantly illegal) the shares were solid at the expense of shareholders and SHMN continues to refuse to disclose ANY details about who received the shares of what the shares were donated for.
What a baffling coincidence that the CEO resigned and went into hiding again when the SEC was notified.
Without a doubt, one of the worst scams on any US market. Clearly some sort of conspiracy or insider trading used to rake in hundreds of thousands of dollars to unnamed parties. Can’t wait to see indictments and possible extraditions from India when the investigation opens up and the former CEO refuses to show his true identity.
This potential fraud operation will be shut down and ripped apart. Don’t get trapped.
LOL!!! Submitting basic accounting paperwork 3 years late is not an accomplishment. If anything, it shows how incredibly neglectful and incompetent this rented PO box-based shell company is.. wait... they submitted the paperwork back in March, right?
That’s what one of their many fake PRs claimed...
The troubles continue to amass for SHMN. I can only imagine how they’d handle a subpoena or indictment. Wait 3 years to respond? LOL
Love how some still believe that after over 26 straight weeks of failure.. actually, it’s more like 3 years straight.
*****SHMN’s fraudulent PRs now fully qualify for SEC suspension per 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 pathetic shell company operated out of a rented mailbox.
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, like SHMN.
OTC Markets automatically removes any company that receives an SEC suspension from quoted trading, or “Grey Market” commonly referred to as the OTC geaveyard. Less than 0.1% of OTC companies that receive an SEC suspension return to quoted trading (99.9% are scams like SHMN and this 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 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 recklessly and negligently allowed their unnamed “PR agency” to publish fictitious and fraudulent information in official PRs with ZERO oversight whatsoever)
* 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 a silent dilution and sale of 108 million shares for an unexplained 2014 convertible note with an unnamed company, I mean this has to just be a coincidence, right???)
SHMN: bankrupt shell company, fake PRs, zero transparency, dilution, only presence in US is a rented PO box, no products/sales/employees...
SHMN is officially incompetent and incapable of maintaining its trustworthiness in court. It is on a crash course for suspension and delisting.
Another PUMP & DUMP
***SHMN dilution update 10/25/2018: 108 million dumped in 2018 so far, 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.
***SHMN OTC UPDATE 10/25/2018: STILL DEFUNCT & DELINQUENT. Even after 6 straight months of cluelessly claiming they’re days away from fixing their issues
More fake news and fictitious PRs? I don’t think that’s going to work out so well. Market makers are already cautioned after this briefly ran 100% on the last fake PR pump & dump
So zero chance this doesn’t close red on news like pretty much every time this year right? Wait, isn’t that a major red flag for a scam?
Two days left.. looking more and more like a repeat of the last 26 weeks. False rumors and lies! Who fell for it 26 weeks in a row? Anyone?
What happened to the bid? Another dump? This is normal, right? Is it true this stock has been diluted down 8-to-1 since inception and is still in debt?
***NEWS: SHMN ADMITS TO PUBLISHING FICTITIOUS NEWS
Of course, specifically naming a completely unrelated major corporation and intricately developing a completely fictitious detailed partnership between them was just an accident, right?
Awaiting indictments and subpoena to reveal who was responsible and why SHMN was negligent enough to allow a fraudster to publish on their behalf with ZERO verification or oversight.
Criminal negligence?
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