Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
"How do the Useltons figure in here?" - keep up with the shell game if you can...:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=79725082
Speaking of Ugh - "Honest" Jack Uselton is back in the news: http://investorshub.advfn.com/boards/read_msg.aspx?message_id=79725082
Lawsuit filed in January 2012 against EHSI (f/k/a Oxford Funding):
Harris County, Texas
Civil Case #2012-04219
Jack Uselton and Jothoclo Corp (Plantiff)
vs
EHSI/Robert Dunn/Ron Redd (Defendants)
Apparently, SEC Recividist (http://www.sec.gov/litigation/litreleases/lr17144.htm) and Convicted Felon (https://www.oag.state.tx.us/oagnews/release.php?id=2088 ) Jack Uselton thinks that he has a case against the former officers of EHSI regarding an alleged $375,000 loan made to the company. From the court records, it appears Jack's wholly owned Panamanian company Jothoclo (re.: short for John Thomas Cloud) wants his money back. Dunn/Redd court records show that their response to the allegations is that third party defendent, John "JT" Cloud, a major shareholder of EHSI and financial advisor to Jack Uselton, set up the whole sham to bypass SEC reporting requirements for the loan and that Redd/Dunn were not a party to that loan agreement. This whole offshore sham with Jothoclo is curious since Jack Uselton's felony probation, prohibits him from participating in any way with penny stocks!
I guess we may never know the answer, since JT Cloud has recently passed away last month: http://www.llanocj.com/news_article.php?category_id=4&article_id=3100
DOMK Annual Report:
As of fiscal year end May 31, 2012, the Company had one employee (R. Brentwood Strasler - sole Director, President and Corporate Secretary).
Subsequent events:
Effective June 15, 2012, the Company's Shareholders appointed Andrew Ritchie, as CEO of the Company.
On June 25, 2012, the Company appointed Patrick Johnson as Vice President of corporate development.
* R. Brentwood Strasler, our President, did not file a Form 3 within the prescribed time period after his appointment as President. Mr. Strasler was unaware of this requirement.
* Andrew Ritchie, our CEO, did not file a Form 3 within the prescribed time period after his appointment as CEO.
On May 25, 2012, Michael Franklin sold 50,000 preferred shares of the Company, in a private transaction, to Cristy Management Limited. As a result, Cristy Management Limited has become the controlling shareholder of Domark by virtue of his ownership of 50,000 shares of Preferred Stock with voting rights equivalent to 50,000,000 shares of our Common Stock. The address for Cristy Management Limited is Akara Bldg, 24 De Castro Street, Wickhams Cay 1, Tortola, British Virgin Islands.
As of September 12, 2011 [2012??] , there were 29,005,298 shares of Common Stock, $0.001 par value per share, issued and outstanding and there were 50,000 shares of Preferred Stock, $0.001 par value per share, issued and outstanding. There were approximately 87 shareholders of record of the Company's common stock.
The Company had $32,253 in revenues for the fiscal year ended May 31, 2012 related to the sale of Solacases - the cost of sales was $54,763 - Note: the above revenues translates into 537 units sold at $59.99 each. With headlines exclaiming "billions" of iphones, you would hope that sales would have been a wee bit more robust!?
The operating loss for fiscal 2012 increased to $4,718,987 (primarily attributable to G&A!).
On April 1, 2012, the Company entered into a Consulting Agreement with Robert Hines [former President of SEC suspended EVSO] for six months. As consideration for services related to compliance matters, the Company agreed to issue 25,000 shares of its common stock. The shares were valued at market value as of the date of the Agreement, resulting in the Company recording an expense in the amount of $38,250.
On April 1, 2012, the Company entered into a Consulting Agreement with Thomas Massey [former President of SEC suspended GSLO] for six months. As consideration for development of the wholesale and distribution market of the Company's solar products, the Company agreed to issue 25,000 shares of its common stock. The shares were valued at market value as of the date of the Agreement, resulting in the Company recording an expense in the amount of $38,250.
On April 1, 2012, the Company entered into a Consulting Agreement with David Parisi [Parisi's office the same as Kathleen Delaney, former President of SEC suspended EHSI] for six months. As consideration for accounting, bookkeeping, and financial recordation services, the Company agreed to issue 25,000 shares of its common stock. The shares were valued at market value as of the date of the Agreement, resulting in the Company recording an expense in the amount of $38,250.
On April 1, 2012, the Company entered into a Consulting Agreement with Brian Barrilleaux for six months. As consideration for marketing services, the Company agreed to issue 25,000 shares of its common stock. The shares were valued at market value as of the date of the Agreement, resulting in the Company recording an expense in the amount of $38,250. Note: Brian is in the process of starting up a solar company with Kellie Moss - daughter of Eddie Austin Jr. (famous for a number of SEC suspended gems including SSLR and other ventures with his lawyer partner Kathleen Delaney): http://www.nasdaq.com/markets/ipos/filing.ashx?filingid=8168662
On May 9, 2012, the Company entered into a Consulting Agreement with Thomas Massey [ref. his SEC suspended company above] for one year. As consideration for services related to structuring the Company's operational plan and business model, the Company agrees to issue 100,000 shares of common stock on the effective date of the agreement and 150,000 shares if the Company enters negotiations with any merger or acquisition target introduced by the efforts of the Consultant. The initial 100,000 shares were valued at market value as of the date of the Agreement, resulting in the Company recording an expense in the amount of $275,000. On May 24, 2012, Mr. Massey was awarded the additional 150,000 shares, valued at $229,500.
The company entered a number of other transactions with others for "consulting" fees - too numerous to mention here (go to Note 6, page 24-25): http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=8821967
As a result of the consolidated debt, the Company is now obligated under a single Promissory Note dated February 29, 2012 in the aggregate principle amount of $355,645 along with $2,689 in accrued interest. The Note is due on October 15, 2012 and accrues interest at 3% per annum. In addition, R Thomas Kidd executed a Personal Guarantee of the Note, whereby Kidd guarantees the payment of $250,000 of the principle balance in an Event of Default pursuant to Article III of the Note.
On March 2, 2012, the Company entered into a Master Credit Agreement with Infinite Funding, Inc. [run by Andrew Farmer, long time associate of Kathleen Delaney and Eddie Austin] which provides for a non-revolving line of credit. The Company may request advances under the lending facility by issuing borrowing certificates to the Lender. Each borrowing certificate, together with simple interest accrued at 8% per year, becomes payable one year after the date of the advance received. Infinite Funding has amended the Master Credit Agreement, increasing the amount of the Lending Faciltiy from $150,000 to $200,000. As of May 31, 2012, the Company received $190,000 in advances and the Company has accrued $1,375 in interest.
Andrew Farmer was also involved briefly with James Kesaris, Maurice Stone, Eddie Austin Jr., Richard Bono and others with Lilly Beter's company, Peninsula Holdings (PHGTA, PHGTB, PHGTC) before things fell apart and the ensuing lawsuit against Stone and Austin for allegedly mishandling Ms. Beter's estate affairs: http://minnlawyer.com/wp-files/pdf/opa081257-0526.htm
"how did you find the Polish companies?":
From the latest annual report: http://www.otcmarkets.com/financialReportViewer?symbol=QUAN&id=79933
"On March 7, 2012, we issued 22,214,109 shares of common stock to Sayword Investments, SP.ZO.o (a Polish company) for the conversion of debt in the amount of $444,282. This resulted in a change of control of the Company." [note: the previous owner was Wisconsin Opportunity Funds, S.A. out of Panama thru JT Cloud's local agent Cesar Rivera: http://ohuiginn.net/panama/company/id/628053 ]
Google Sayword Investments and you can find several links, like this one showing JT Cloud and his partner, Robert Federowicz as the controlling interest of Sayword: http://www.krs-online.com.pl/sayword-investments-sp-z-o-o-krs-700544.html - Sayword is also the controlling owner of GTSO.
JT and Robert have set up several other Polish entities such as:
Glendive Investments (RBCC)
Rosentax (NTRR)
Paradium Capital (GTSO)
Cambridge Securities
Galleria Securities
Eluru Investments
Vilar Investments
Regarding the Uselton's, JT Cloud is a well known long time associate of both Jack and Darrel - specifically on companies like these SEC suspended gems: GFET, SSLR, GSLO and others.
JT Cloud is no longer in a position to capitalize on these scalping operations due to his untimely death last month: http://www.llanocj.com/news_article.php?category_id=4&article_id=3100
It does not state the details of who got the distribution - this filing is a notification that the Board has authorized the issuance of 2.5 million preferred shares (out of a total of 10 million potentially available) and the details of how they can be distributed and redeemed.
Note: each of the preferred shares have a voting right equivalent to 50 common shares.
sorry - forgot to post the link. Here it is: http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=8808416
JT Cloud - the king of penny stock scams - Obituary: http://www.llanocj.com/news_article.php?category_id=4&article_id=3100
A few of JT's ventures included participating ownership (using offshore accounts in Panama and Poland) and running companies associated with industry giants like SEC recividists and felons Darrel and Jack Uselton:
RBCC
NTRR
FTTN
OMVS
OBJE
ONYX**
GAEC/GFET**
SSLR**
QUAN
GTSO
ATNE**
GSLO**
EHSI**
EVSO**
TMDI
OXFD
PHGTC
NWND
AEND
DOMK
ASCC
MYHA
BERX
ADBI
CYGX**
**Denotes companies who were suspended by the SEC
Late in life JT married his child bride, Monika Federowicz (related to Robert - the CEO of some of these gems) where they enjoyed the fruits of his labor traveling around the globe: http://jtcloud.com/html/what_s_new.html
I am sure he taught Kathleen Delaney, her sister Cindy Morrissey, and others to keep his dreams alive....
JT Cloud Obituary: http://www.llanocj.com/news_article.php?category_id=4&article_id=3100
Wonder what that means for his scams remaining.....
"Oh, as far as Domark's "Revolutionary" Solapad claims...." - yeah but, just think as you are driving across the desert southwest with your iPad dangling out the window, you will be fully charged when you stop to surf the web at the pertified forest......
FYI - AMBS had just issued 2.5 million Preferred (Series B Convertible) shares for company insiders. These shares are automatically convertible to 50 common shares each within 2 years. This will result in 125 Million more shares to dilute with the other common outstanding.
"After a brief reorganization...." - lol, that is funny! RBCC has one employee, so the "brief reorganization" was probably referring to him receiving new business cards....
"In a continuing effort to build shareholder value..." - when did they ever begin? The company has brought no tangible efforts forward for shareholders.
"...has announced plans to follow through on three new deals for the company this quarter." - are these secret, or when do shareholders get to find out the glorious news?
Regarding the 60 day notice of a LOI for funding with AMBS, the clock is still ticking...now over 2 months past due....but keep hoping!
Just curious...is it just coincidence or is there an imbalance in the universe that is causing all of your stock picks to "explode"? - perhaps you meant to say implode: http://fashionablygeek.com/wp-content/uploads/2008/11/explosive-diarrhea-shirt.jpg?cb5e28
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=79198939
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=78072401
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=77045826
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=76796394
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=76596597
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=76511981
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=76079013
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=75792159
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=75144265
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=74758914
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=74266705
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=73943275
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=69938952
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=55781784
Disney - this of course is complete fantasy land press releases. RBCC has spewed out no fewer than 6 press releases stating it is "nearing" completion of an LOI in hopes to begin due dilligence to maybe do a deal with no specifics and no results - sounds like an Obama Campaign slogan of "Hope and Change" - come on already, it has been 4 months and RBCC's stock has shrunk 75% in that time period and AMBS is worse having lost well over 90%. Neither company has the financial ability to put a deal together that would be in the best interest of shareholders.
Nick Symmonds tweets his thanks for his sponsors (what no mention of DOMK?!?):
It is impossible for me to thank @Nike and @OregonTCElite enough for making it financially possible for me to chase my Olympic dream. TY!!!
Nick on BBC interview.
"I'm very serious bout this, if I don't give my sponsors valuable exposure, they don't have to pay me."
- LOL - even if he did give good exposure, DOMK probably would not pay....
No - that is not the same one. Here is the one you are looking for (note her maiden name Morrissey): http://www.avvo.com/attorneys/77027-tx-kathleen-delaney-3339695.html
Here is a picture of Kathleen when she was with MYHA prior to appointing her sister: http://blog.artrm.com/2008/08/21/telemedicine-clinic-to-open-at-wal-mart-in-pearland/
Being sisters does not impact the company. Both of them having a direct (or slightly indirect) relationship with the principals of several recently SEC suspended companies (EVSO, EHSI, GSLO, CYGX, GFET, SSLR, ONYX) might raise concern for any investor.
Setting aside the suspensions for a moment, the whole group of intertwined non-suspended Delaney/Morrissey affiliated companies (QUAN, GTSO, RBCC, NTRR, BERX, ADBI, AEND, MYHA, AESO, OBJE, OMVS, and FTTN) who have a consistent tract record of horrendous returns for investors, one has to wonder if riding this latest (ASCC) horse has any merit to it? Clearly the merry-go-round ventures are a thinly veiled vehicle for issuing more shares to JT Cloud with various off-shore Poland entities meant to strip all of the value out of the company for his own pockets. ASCC is just the latest flash in the pan - the next 10K will bear that out, but albeit, too late for those that get burned.
ASCC Due diligence:
New CEO is Cindy Morrissey. Cindy was the CEO and Chairman of EHSI. That company was suspended by the SEC which they were indicating microcap fraud while she was at the helm: http://www.sec.gov/news/press/2011/2011-120.htm
Cindy is the sister to Kathleen Delaney.
This same SEC suspension of EHSI came with 16 other companies, including EVSO and GSLO - both directly associated with Delaney. A third suspended company out of that group, CYGX, had Steven Plumb on the BOD, yet another close friend of Delaney and Morrissey.
Cindy's other experience includes:
COO of MYHA - a company run by Maurice Stone and JT Cloud (ref. SEC suspensions of his companies include GFET, SSLR, and GSLO). MYHA has been on the Grey market since 2007 after a series of glorified press releases proclaiming to have telemedicine clinics in a series of Walmarts, which was a complete fabrication (save an except for a single store they managed to occupy for a couple weeks). Under her tenure, shareholders endured a price collapse from $0.45 to $0.0003 - a drop of 99.93%
President of NTRR(D) - from November 2011 to June 2012, she took this company from a high of $45/share (post split) to a price of $1.20/share - a decrease in shareholder value of over 97% on her way to giving JT Cloud 75% control of the company. She inexplicably left NTRR at a time when there was public statements about clinical trials being underway for the latest version of natural supplements - why would she leave such a nice gig for yet another new company with no discernable assets or business?
JamesOTC - care to post your disclaimer from http://www.otcstockpick.com ?
On July 29, 2012 Mr. Frederick A. Huttner, Jr. resigned as Chief Executive Officer, President and as a director of the Company.
Curious that Central Casting has not whipped up a replacement for him.....
nodummy - can you be more specific on who "the group" is? Thanks in advance.
ASCC is definitely related - now run by Cindy Morrissey (former CEO of SEC suspended EHSI).
NTRR now trading under symbol NTRRD effective today with 1:20 reverse split: http://www.nasdaq.com/reference/upcoming_splits.stm
SolaCase? You mean Volt Case....you know...truth in advertising....
No - the previous close was $1.49 when trading under the RBCCD symbol. The trading symbol reverted back to the old symbol of RBCC today and closed at $1.50 (up $0.01 or +0.67%).
The previous RBCC had been trading at $0.05 before the 1:20 reverse split on 6/28/12, thus giving the illusion it was up $1.45 today. No worries, no new idiots here trading this dog.
RBCCD back to RBCC: http://www.otcbb.com/asp/dailylist_detail.asp?d=07/27/2012&mkt_ctg=OTCBB
Nothing else has changed at the company....
"Didn't have time to read through all those pages." - of course not, getting to page 2 is too difficult..... Here is a quick link so you do not have to dig: http://blog.cleanenergy.org/files/2009/04/head-in-sand.jpg
I never stated that micro-robotics is not real - simply laughing at the idea that QUAN has any capability to participate in ANY robotics venture.
Case in point - QUAN's website is littered with claims that they are venturing into projects which are simply not true: http://www.quantuminnovators.com/projects.html
"QUAN is an emerging robotics innovation company that's setting the stage for the next generation of automation technology" - FALSE. QUAN has no such innovations nor initiatives to set the stage for the next generation of tech.
"QUAN is in a unique position to spearhead the most cutting-edge innovations in robotics while leveraging the worldwide demand for the precision, speed, and cost-effectiveness these technologies offer" - FALSE. QUAN has no unique position and in fact has no cash to execute much of any gameplan. They are not spearheading ANY cutting edge innovations.
"QUAN is set to take robotics into the 21st century" .... ummm....we are already 12 years into the 21st century, when will they begin??
"By teaming up with hospitals and other modern medical facilities, QUAN can ensure that these technologies are more affordable and adopted faster. Federowicz's experience in fostering these types of relationships will propel the company forward". FALSE. Federowicz has no experince with modern medical facilities, nor has he any experience in fostering relationships.
"Quantum International targets only the most promising new technologies for commercialization, delivering the best investment opportunity possible to our shareholders." - FALSE. QUAN has never delivered any technologies and has yet to produce any value for shareholders.
"Currently, we're evaluating a variety of exciting new technologies across a broad range of sectors:"
CO-ROBOTS - FALSE
3D SENSING - FALSE
CLOUD ROBOTICS - FALSE
SMARTPHONE-BASED ROBOTS - FALSE
FACTORY ROBOT HELPERS - FALSE
RAPID PROTOTYPING - FALSE
UNMANNED AERIAL VEHICLES - FALSE
BIONICS - FALSE
It is not my info, but rather straight form the company's 10K (Part II, Item 5) - read for yourself: http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=8721997
"Holders - As of the date of this filing, there were two holders of record of our common stock. "
It's impossible to have only 2 shareholders - gee, ya think? Makes you kind of wonder what else is false in their financials.....
Joe - the answers lie here: http://investorshub.advfn.com/boards/read_msg.aspx?message_id=77572174
More specifically from the latest financials:
RBCCD has two employees
RBCCD has two shareholders
So obviously it is not "a sour bagholder basher" (unless he is one of the only two shareholders) - not likely.
This company has no experience in the bio/medical field...period.
The statement means that the company will be submitting a request to perform a 1:40 reverse split. The result will mean that the price of the stock will multiply by 40 and the number of shares that one has will be reduced by a factor of 40.
Example:
Pre-split one owns 4000 shares at a current stock price of $0.032/share = value of $128
Post-split, one would own 100 shares (4000 divided by 40) at a price of $1.28/share ($0.032 x 40) = value of $128
If a company was wanting to list on a bigger exchange, this might be a strategy to get the stock price up to meet the minimum listing requirement on a bigger exchange (i.e. AMEX, NASDAQ, NYSE). Since $1.28 will not meet the minimum requirements for any of these, one can conclude that the management is simply incapable of raising the price out of the gutter.
In general, penny stocks that do a reverse split are predominently seen as bad for investors. One reason might be the fact that with a higher stock price, the margin requirements for shorting are reduced, thus making it an attractive short if the company continues to have no prospects of ever having a legitimate business (as is the case with OBJE in my opinion).
Conversely, forward splits are generally seen as "good" to investors as they make the price more easily purchased in round lots (i.e. lots of 100) and are generally indicative of a stock that continues to grow in value.
Naked Shorting (with failure to close out or to manipulate the stock) is already illegal: http://www.sec.gov/spotlight/keyregshoissues.htm
If you intend to file a complaint, here are some suggested related links:
The SEC investor complaint site:
https://denebleo.sec.gov/TCRExternal/disclaimer.xhtml
and for FINRA:
http://www.finra.org/Investors/ProtectYourself/p118628
Suggested contact names related to other companies suspended by the SEC that Franklin was associated with (EVSO, GSLO, others) - these were all publically noted contacts from the SEC website:
Glenn S. Gordon, (305) 982-6360 or gordong@sec.gov Associate Regional Director, Miami Regional Office
Elisha L. Frank, (305) 982-6392 or franke@sec.gov Assistant Regional Director, Miami Regional Office
Andrew M. Calamari, (212) 336-0042 or calamaria@sec.gov Associate Regional Director, New York Regional Office
Michael Paley, (212) 336-0145 or paleym@sec.gov Assistant Regional Director, New York Regional Office
Specific information they will be looking for is any alleged misleading/false press releases, email spam, or company website statements that induced you to buy into this stock. Additional information they will want to know is false statements from their financial filings (if any).
Interesting story here. - HUH? Are you referring to the train wreck shown on the latest financials?:
May 31, 2012 the company had approximately 4,200 holders of record of our common stock.
The good news: the company successfully drilled two wells resulting in revenue of $79k for the year. These two wells have produced 766.3 bbls of oil and have remaining net proven reserves of 24,133 bbls (equivalent).
The bad news:
Outstanding shares exploded yet again from 4.9 million shares (post 1:10 split) to 11.0 million shares (224% increase!).
Operating expenses were $2.6 million, of which $2.2 million was for compensation for the one full time, and one contract employee (must be good work if you can get it!).
Investor Relations costs were $140k - nearly twice the entire net annual revenue of the company ($79k).
Interest expense of nearly $1.1 million
As of March 31, 2012, the Company has accumulated losses of approximately $6,860,000 since inception and has negative working capital of approximately $600,000.
As of March 31, 2012, amounts owed to third parties for services is $96,873.
In July 2011, the Company cancelled the Glaux Agreement and believes that it has no further obligations under this agreement that was to lead to development of prospects in West Texas.
Subsequent events to the above financials:
In April 2012, a shareholder advanced the Company $35,000 in exchange for a convertible note payable due March 31, 2013, bearing interest at 12% and convertible at $0.50 per share. In May 2012, the note was amended to allow for conversion at $0.09 per share [equivalent to 388,889 shares].
In May 2012, the Company completed a private placement of 1,428,981 shares of common stock for net proceeds of approximately $500,000.
In May 2012, the Company made principal payments totaling $12,500 to an officer of the Company on his outstanding convertible note payable.
In May 2012, the Company issued a stock option to the Chairman of the Board to purchase 500,000 shares of the Company’s common stock at a price of $0.10 per share, vesting immediately, with a five year term. The fair market value of the option on the date of grant was $48,348 [translated this option is currently worth $130k net to the COB - almost double the value of the net revenue for all last year]
In May 2012, the Company issued a stock option to the Chief Financial Officer to purchase 200,000 shares of the Company’s common stock at a price of $0.10 per share, vesting as follows: 100,000 shares vest immediately and 100,000 shares vest on January 1, 2013, with a five year term. The fair market value of the option on the date of grant was $19,337 [translated value = $26k immediately plus 100k shares on 1/1/13].
In May 2012, the Company issued 4,206,575 shares of common stock upon the conversion of notes payable and related accrued interest totaling $415,496 and additional consideration of $35,027, for a total of $450,523.
In June 2012, the Company issued 554,105 shares of common stock to a related party upon the conversion of notes payable and related accrued interest totaling $49,869.
In June 2012, the Company acquired the N. Edna field for total consideration of $200,000.
In June 2012, the Company made a payment on a related party payable in the amount of $20,000.
Quarterly report thru June 30th filed today:
On June 30, 2012, ADBI had total assets of $10,901 consisting of $3,551 in cash and $7,350 in prepaid expenses. Total current liabilities of $107,332 consisting of $20,496 in accrued interest and a convertible note in the amount of $86,836.
They issued 7.05 million shares at $0.01 to settle a $50,000 debt due a former party plus associated accrued interest of $20,500 - an increase of total outstanding shares by about 10% (77 million total).
On January 30, 2012 ADBI relinquished its 100% ownership and all rights to Centriforce Technology Corporation and its 50% ownership in Sub Sea Oil Technologies, Inc. The underlying assets of both Centriforce and SubSea had no value at that time.
Translated: the company has no remaining business and the business they used to have was never even worth anything.
....or oil cleaning mosquito robots...LOL!
Which "deal" are you referring to - one of these from their website that they claim to be part of?:
• Joint Venture with PIAP?
• iPhone and iPad Robots?
• Robotic initiatives in Chile?
• Development of Medical Robots?
• Promises of "Billinos in Profits"?
• Robots as Co-workers?
• 3D Kinect products?
• Cloud Robotics?
• Factory Robots?
• Unmanned aerial vehicles?
• Bionics?
Or these promises made by NWND prior to the name change with the same management?:
Patent for Fuel Cell technology with its subsidiary, Zero Emissions Energy: http://technews.tmcnet.com/fixed-mobile-convergence/news/2009/02/09/3973595.htm
Letter of Intent with DC Biofuels: http://www.yourrenewablenews.com/nwnd+to+collaborate+with+dc+biodiesel_41320.html
Becoming a major player in the G-20 Carbon Market: http://www.sys-con.com/node/1452115
China National Solar deal: http://www.chinanationalsolar.com/ (no longer active link)
Acquisition of Technicare Solutions, Inc for 86 million shares, a company with no assets, employees, or products.
The massive 210 acre wind farm that never happened: http://www.newenergyworldnetwork.com/investor-news/renewable-energy-news/by-technology/wind/national-wind-solutions-set-to-build-a-wind-farm-in-texas-us.html
Also these fancy headlines that never materialized:
• 10 MW Bio Plant in Gibson that he has no technical experience to fulfill
• Invitations to the White House
• Converting the Poteet Plant to process waste from the Gulf Oil Spill
• Hiring a world class oceanographer
• Designing iPhone apps that never launched
• Getting an option on the Emission Phase Acquiring Solutions (EPAS) technology
• Attending scoping meetings in Catalina for deals that don’t exist
• Wooing international biomass projects in Africa with no intention of ever actually doing them.
• JV with Dizihna, to install clean energy options for a company operating a daycare in a mobile home.
The company has changed it's name to "OBJ Enterprises, Inc."
From the latest quarterly report, a 1:40 Reverse Split was voted and authorized effective upon the first date permitted by FINRA....yipee.