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Mingy,
And just how have you arrived at this BS 'fair value' of $2.40????
This ought to be interesting as inquiring minds would like ti konw!!!
boobb2,
And so was Bernie Madoff!!!!
There is no 'support' level when the company is diluting the crap out of the stock the way UniCON is doing.
UniCON more than doubled the outstanding shares in the last quarter alone..... from 202,750,052 shares all the way to 420,489,553 shares.... and the 'pump and dump' printing press continues to run in overdrive!!!
EarnestDD
Very deep discount --- 50%
Here's the latest update on the share dumping history:
Here's what has happened to the share structure over the years...
Shares outstanding:
Under Ray Brown:
7/7/00 55,266,712
12/27/00 64,785,046
5/22/01 66,893,060
7/6/01 67,893,969
10/08/01 70,054,487
12/31/01 69,678,487
5/21/02 72,062,974
7/10/02 74,112,974
10/7/02 74,112,974
1/8/03 75,112,974
6/11/03 77,507,974
7/10/03 78,257,974
10/15/03 85,852,974
1/9/04 88,952,974
5/27/04 93,462,974
7/14/04 93,462,974
Quite a reasonable amount of dilution for a company trying to do something.
Now enter Mark Lopez as CEO and his Death Spiral Financing scheme...
11/22/04 335,427,896
2/23/05 484,427,896
5/20/05 498,427,896
Note thet the Authorized shares were almost maxed out at 500 mil.
7/13/05 498,427,896
10/14/05 498,427,896
1/3/06 498,427,896
Now the Authorized shares was raised to 5 Billion.
6/2/06 4,899,096,450
7/17/06 4,909,096,450
First MASSIVE reverse split 1:100
8/11/06 49,090,965
10/12/06 182,411,108
1/11/07 747,899,608
6/11/07 1,906,735,609
7/6/07 2,915,363,072
1/7/08 4,815,363,072
5/8/08 4,940,363,072
Now the second MASSIVE reverse split 1:500
7/1/08 9,880,726
10/10/08 12,306,929
1/12/09 23,679,981
6/4/09 141,784,859
7/5/09 202,750,052
8/31/09 280,967,605
10/10/09 420,489,553
In addition to the related party debt (CD's), let's not forget the interest due on those CD's....
"As of August 31, 2009 the Company has accrued $1,092,384 for interest due to related parties in regard to these outstanding debentures. The Company has also recorded a liability for beneficial conversion for this same interest on the debentures of $1,119,419 based on the discount to market available at the time of conversion of which $1,085,885 is attributable to related party debentures."
EarnestDD,
"The Company has incurred losses of $67,974,754 from its inception through August 31, 2009. It has not established any revenues with which to cover its operating costs and to allow it to continue as a going concern."
Also,
"Accomplishing the 12-month plan of operations is dependent on: (a) the Company raising approximately $5,500 ,000 in equity and/or debt financing during the next 12 months to be used for the Company’s operations, of which approximately $1,500,000 is needed in the next 120 days.
EarnestDD,
"The Company has incurred losses of $67,974,754 from its inception through August 31, 2009. It has not established any revenues with which to cover its operating costs and to allow it to continue as a going concern."
Also,
"Accomplishing the 12-month plan of operations is dependent on: (a) the Company raising approximately $5,500 ,000 in equity and/or debt financing during the next 12 months to be used for the Company’s operations, of which approximately $1,500,000 is needed in the next 120 days.
EarnestDD,
Related Party debt...
The summary of outstanding related party debt of $6,904,985 of which $5,767,485 is in default as of August 31, 2009 is as follows:
Moore Investment Holdings $6,386,563
Ray Brown $403,956
Joseph Lopez $114,466
Total $6,904,985
As of August 31, 2009 the Company has recorded a liability for beneficial conversion of $7,892,885 based on the discount to market available at the time of conversion of which $6,801,301 is attributable to related party debentures..
As of August 31, 2009 the Company has accrued $1,092,384 for interest due to related parties in regard to these outstanding debentures. The Company has also recorded a liability for beneficial conversion for this same interest on the debentures of $1,119,419 based on the discount to market available at the time of conversion of which $1,085,885 is attributable to related party debentures.
DILUTION, DILUTION AND MORE DILUTION!!!
"As of October 10, 2009, the issuer had outstanding 420,489,553 shares of its common stock, $0.001 par value per share."
That's 217,723,501 brand NEW shares added in the last quarter, more than double what is was 3 months ago!!
mcqe5,
That's what the last group of pumpers thought just a few weeks ago when it was 0.006.
There was even at least one paid pumper in that group for the flurry that went absolutely nowhere except down as the company dumped freshly printed shares.
fourkids,
The trial was originally scheduled as follows...
10/19/2009 09:00 AM Non-Jury Trial Graham, Richard S. City Island Courthouse
The latest entry on the docket is...
11/09/2009 11:15 AM Show Cause Hearing Graham, Richard S. City Island Courthouse
Probably as a result of this....
09/30/2009 34.000 TWENTY DAY SUMMONS ISSUED Comments:
as to AMENDED complaint To FLO-CO LLC fwd to pltfs atty by mail for sop, cc pltfs atty by mail
09/30/2009 33.000 TWENTY DAY SUMMONS ISSUED Comments:
as to AMENDED complaint To AERO EXHAUST PERFORMANCE PRODUCTS, INC. fwd to pltfs atty by mail for sop, cc pltfs atty by mail
09/30/2009 32.000 TWENTY DAY SUMMONS ISSUED Comments:
as to AMENDED complaint To BRYAN HUNSAKER fwd to pltfs atty by mail for sop, cc pltfs atty by mail
vienna,
This just may have something to do with "being in and around this scam for over 6 years"
http://www.kkbs-law.com/lawsuits/Unico.pdf
momentum858....
Your rationale re: gold is basically correct with one exception....
It does however not pretain to Unico.
In Unico's own words in ALL of their SEC filings....
"There are no known, proven or probable reserves on the property."
Agent,
Thanks for providing that information!!!
ThePennyGuru...
"They make money on their events"
Link please!!!!
ThePennyGuru,
Maybe not yet, re: CD's!!!!!
ThePennyGuru,
As you have posted the link that clearly shows Steven Peacock to be an officer of AVEW, please explain why practically every single stock that Peacock has been associated with have been 'pump and dump' situations where the stock price has cratered and MASSIVE dilution has occurred followed by disasterous reverse splits. Also many of these used Death Spiral Financing via CD's that were convertible at a very DEEP discount to the market.
ThePennyGuru,
While Traveller cannot be an 'officer' in any company per the SEC settlement, he is significantly associated with AVEW, as is Geddes.
Both of these guys have a rather storied past concerning many frauds, some of which you are cognizant of having been on the message boards of those stock scams.
And sorry, I will NOT go away!!!!
craig....
Re: Gregg Geddes...
http://www.cachecounty.org/docs/victimservices/updates//Case-Updates.pdf
Re: Shane Traveller...
http://www.sec.gov/cgi-bin/txt-srch-sec?text=shane+traveller§ion=Litigation
TEX,
The court case is currently in MASSIVE discovery and scheduled for trial 1-29-2010.
Unico has tried every trick in the book to either get this dismissed or delayed and have been rebuffed by the California Courts at every step.
Hi ho, hi ho
It's off to court we go.
The SPNGE similatities to this are huge.
TEX,
It has been done. There is an ongoing shareholder lawsuit against UNCO. See: http://www.kkbs-law.com/lawsuits/Unico.pdf
It would seem to me that enough data is available that a similar lawsuit against the SPNGE BOD could be initiated.
Dilution --- What dilution
The 10-Q is due next Friday 10-16-20, that is if they don't file an NT-10-Q.
It will then be VERY apparent the extent of the MASSIVE dilution by Unico in the last quarter --- probably in excess of 150 mil shares, which would equal approx. 75% dilution.
tecch10000,
Those paid pumpers and momo players that follow them sure did disappear quick. That was a one week paid performance to dump a ton of freshly printed shares.
They didn't get the pop they were expecting!!!
Only 2 weeks until the 10-Q is due. We will then see the significant extent of the dilution by Unico
badcatch,
You say I post nothing but 'negative all over the place'.
I have posted nothing but FACTS about this company which, if you had done your due dilligence, you would realize that.
This is not about what 'gold' Unico may or may not have in the ground. It is totally about the fraud that Unico and it's BOD have perpetrated. They have used, and continue to use, Death Spiral Financing (http://en.wikipedia.org/wiki/Death_spiral_financing), thus flooding the market with shares maxing out the Authorized shares, then doing a MASSIVE reverse split, then doing it all over again. In the last 3 years the RS's have amounted to 1:50,000 completely annihilating any value. The company continues to dilute headed toward maxing out the Authorized shaers AGAIN for at least the fourth time.
The company has and continues to release VERY misleading PR's, which by the way are NOT supported by the SEC filings, their sole purpose being to continue this DSF scheme which has cost previous shareholders their investment.
Finally, I am NOT trying to hurt you. You do that solely by yourself. If laying out the FACTS about Unico hurt you, so be it!!!!
This was posted by a Unico shareholder on another board...
It speaks VOLUMES to the scam going on here...
"All, I'm not really into pumping or bashing but I am a small stock holder and sent an email to Unico inquiring about progress. Here is my question and their response for what it's worth.
Peace.
Sent: Wed 9/30/09 12:11 PM
To:
The concentrate samples were used to establish the testing protocols and processing methods at Royal Mines and Minerals' facility. There are no results pending for any samples. The company has a contract to ship material to Royal Mines and sell them its concentrate. Regards, Public and Investor RelationsUnico, Inc. (OTC BB: UNCO)Telephone: 951-200-4107Email: investors@unicomining.comWebsite: www.unicomining.com ----- Original Message ----- <investors@unicomining.com>Sent: Wednesday, September 30, 2009 8:47 AMSubject: DEtails > TITLE: stockholder> SUBJECT: DEtails> PRESS RELEASE DATE: 09/30/2009 10:20 AM> RE: Unico, Inc. Announces Plan for New Tailings Pond at the Deer Trail > Mine>> MESSAGE:> Can you please share the details of the concentrate samples you claim you > have retrieved?Some $$ per sample press would be better than all this > other rhetorical garbage you put forth.Thank you.A concerned stock > holder"
nobody3....
In Ray Brown's infamous words...... "We're days away from pouring gold."
That statement was contained in a shareholder letter from Ray in 2002.
And here we sit 7 years later and still no gold!!!
ROTFLMAO
UNCO has known all along they did not have the tailings capacity to mill the tonnages they announced they were going to process as far back as 2006. Lopez stated that UNCO was screening the upper tailings and dumps and expect to process 80,000 tons (July 2006).
Where did he expect to put all those tons of waste?
After all this time they let shareholders believe they had tailings capacity enough to mill thousands of tons. When in fact they knew full well they didn't.
This issue has been mentioned on the message boards on several occassions but the pumpers always defended UNCO by posting there was a tailings impoundment large enough. Really? Now we know.
Who did not check the facts? PUMPERS didn't that is plainly evident today.
(Courtesy of orowheat111)
stevenck,
What else would you expect Lopez to say.
Remember one thing, Unico can, and has, said almost anything in PR's which have yet to be proven (in other words, misrepresentations and outright lies), yet, when it comes to the SEC filings they must tell the real truth under penalty of perjury.
ALL of those misrepresentations and outright lies will be brought out in the shareholders lawsuit against the BOD, which by the way is not far off. See....
http://www.kkbs-law.com/lawsuits/Unico.pdf
Unico has tried every trick in the book to delay this lawsuit and has been ruled against by the courts in EVERY attempt.
Hi ho, hi ho
It's off to trial we go!!!
ROTFLMAO
EarnestDD
1-29-2010.
Unico has tried every trick in the book to delay this and have been rebuffed by the California Court of Appeals every time.
moneyeve,
(Courtesy of orowheat111)
There are a number of companies exploring for tellurium world wide. MAX, Jason, Mexivada, Flora, World Industrial, Industrial Minerals, the list goes on. My guess one of these or some new start-up company read reports about the tellurium occurence at the Deer Trail Mine in Utah and made contact with UNCO and made a few site visits took samples etc. in Jan. or Feb. this year. Lopez siezed upon the idea of promoting a "green" rare mineral (telluruim) discovery at the Deer Trail like it was the answer to the world's solar electric cell production. He put out an initial press release followed by another a couple months later. All the PRs came across like UNCO discovered the tellerium such as doing "in-house" tests etc. When in all probability all the test work was being done by one of the many tellurium exploration companies. Not to mention tellurium was already known to exist at the Deer Trail to some degree (for over 20 years).
What's the point here? If something as insignificant as a few hundred parts per million Te launched a promotion campaign, why do they refuse to post results of more significant event like drilling results, processed concentrate results, mill recovery rates, metallurgical test results, etc?
UNCO will grasp at straws to promote anything they deem positive but seem to obscure the facts when they deem things to be negative.
So why has UNCO been so silent about the tellurium discovery for nearly five months? Oops, were the results negative and the explortion company lost interest? It makes one wonder.
EarnestDD
Except a whole bunch of freshly printed shares
In fact, here's why one major UNCO investor sold...
Purpose of above-disclosed transaction - 02/18/2009 disposition of 900,000 common shares of Unico Inc. (AZ) new (OTC BB UNCO.OB). for a loss - is due to this investor's need - to capitulate per economic conditions & Unico Mining Inc. inaction of reasonable mining operations and sale of concentrates.
This investor has concerns with Unico Mining, Inc. relying on debenture financing and funding - where by companies / individual(s) purchase mature debentures in exchange for an opportunity to receive 50% off the stock bid price of common share of Unico Mining Inc.
This investor assisted Unico Mining, Inc. with capital by purchasing a 90K debenture (reported on prior SEC 13d) from Moore Investments while Unico Mining, Inc. was in transistion of working towards some level / reasonable mining operations and production of concentrate. Ken Weidrich CFO reported to this investor that he was having difficulties raising capital for Unico Mining Inc. payroll.
This investor accepted and / or participated with above-described debenture transaction to personally improve stock position and reduce stock average given that this investor lost tremendous amounts of value of owned common shares of Unico Mining, Inc. September 2007 - up to this point - secondary to debenture financing.
Ken Weidrich CFO assured this investor during above-mentioned debenture transaction that Unico Mining had strong intentions of steering away from raising capital from the sale of mature debentures to other companies or individual(s). Ken Weidrich CFO indicated that there would be an earnest effort to raise capital with consistent mining operations and sale of concentrates rather than continued debenture financing.
To date - no concentrate has been sold because no significant amount of concentrate has been produced so that Unico Mining Inc. can sustain their concept.
Note that this investor has had SEC amendment obligations / disclosures with past and presently owned common shares of Unico Mining, Inc.
After careful review of past & present Sec 13d & form 3 or 4 report(s) - none of the other companies or individual(s) acquiring mature debentures have reported or disclosed acquisitions or disposition of common shares of Unico Mining, Inc. - relative to SEC Amendment Obligation.
If the companies or individual(s) acquiring mature debentures converted all of their debentures into common share of Unico Mining Inc. - these companies and / or individuals would be compelled to report change of stock position whether acquisition(s) or disposition(s) - SEC amendment obligations.
Either the companies or individual(s) that are acquiring these mature debentures are not aware of disclosure to the public through the SEC -or- decisive amounts of common shares of Unico Mining Inc, (less than 5% of the market cap - the threshold SEC amendment obligation) are being converted & transferred to companies or individual(s) to avoid apposite disclosures to the public & sell common shares for marginal profits between market price of stock and discounted stock bid price. Once common shares of Unico Mining, Inc. are sold - companies or individual(s) may go back and convert another portion of their debenture with Unico Mining, Inc. (less than 5% of market cap) into common shares at a 50% discount of the stock bid price. When those common shares are sold for another marginal
profit - the cycle continues - the stock price continues to decline - and these companies or individual(s) are the few who are financially
benefiting at the expense of Unico Mining Inc. stock price and the common shareholders.
If the latter assumption / statment is true - this investor would consider these actions: financial collusion against stockholders of Unico Mining, Inc.
If the companies or individual(s) purchasing mature debentures are:
1) converting portions of interest bearing debentures of Unico Mining Inc. common shares (less than 5% of market cap - SEC amendment obligation - no disclosure to the public),
2) acquiring the common shares at a 50% discount of the stock bid price,
3) and disposing (selling) of common shares in the open market - this would in effect drive the stock price of Unico Mining, Inc. down and negatively impact all stockholders of Unico Mining, Inc. that were locked in at a higher stock price & position.
This investor finds it interesting & financially convenient that Mark Lopez CEO & Ken Weidrich CFO are not common shareholders of Unico Mining, Inc. specifically: 2006, 2007, 2008, & 2009.
Moore Investments do not appear to be reporting SEC reports regarding ownership of common shares of Unico Mining thence holding immature and mature debentures at the potential financial discretion of Unico Mining Inc. - at the expense of the stock price and applicable stockholders.
Ray Brown will convert accurred interest of monies owed to him - by Unico Mining, Inc. - to common shares at 40% discount from the stock bid price.
This investor will continue to release significant common shares of Unico Mining, Inc. during the month of February 2009 due to the inaction to participate with reasonable mining operations and questionable standards of practice with raising capital - continued debenture financing.
This investor has lost a lot of money with earlier stock investments and participation with said debenture with Unico Mining, Inc. There is a consistent downward trend since 2006 - to present with creative debenture funding and financing at the expense of common shareholders of Unico Mining, Inc.
This investor is disclosing reason(s) for present and future dispostion of common shares of Unico Mining, Inc. - based on incontrovertible facts that have led to my professional opinion(s) and applicable action(s). By definition this investor is an insider with consideration of the amount of common shares of Unico Mining, Inc. owned.
If Unico Mining, Inc. is formally investigated and / or scrutinized this investor believes that they would have difficulties legally
defending their actions and inactions.
(a) The acquisition by any person of additional securities of the issuer, or the disposition of securities of the issuer; N/A.
(b) An extraordinary corporate transaction, such as a merger, reorganization or liquidation, involving the issuer or any of its
subsidiaries; N/A.
(c) A sale or transfer of a material amount of assets of the issuer or any of its subsidiaries; N/A.
(d) Any change in the present board of directors or management of the issuer, including any plans or proposals to change the number or term of directors or to fill any existing vacancies on the board; N/A.
(e) Any material change in the present capitalization or dividend policy of the issuer; N/A.
(f) Any other material change in the issuer's business or corporate structure including but not limited to, if the issuer is a registered closed-end investment company, any plans or proposals to make any changes in its investment policy for which a vote is required by section 13 of the Investment Company Act of 1940; N/A.
(g) Changes in the issuer's charter, bylaws or instruments corresponding thereto or other actions which may impede the acquisition of control of the issuer by any person; N/A.
(h) Causing a class of securities of the issuer to be delisted from a national securities exchange or to cease to be authorized to be quoted in an inter-dealer quotation system of a registered national securities association; N/A.
(i) A class of equity securities of the issuer becoming eligible for termination of registration pursuant to Section 12(g)(4) of the Act; N/A. or
(j) Any action similar to any of those enumerated above. N/A.
It certainly will not hold .005 very long. There is NOTHING to support the price other than you few daytraders buying. Certainly no prudent investor would touch UNCO
Very likely the 5's will fall today!!!
What a great looking chart ---NOT
Lopez and the miscreants ought to be really squirming. This is VERY eerily similar, in fact almost identical, to what Unico has been up to since Lopez came aboard in 2004.....
http://assets.bizjournals.com/cms_media/southflorida/pdf/K&L%20complaint.pdf
And the ongoing SEC investigation of Unico and it's players will prove that to be the case.
(Courtesy of GOLDENBOLLOX)
G_Money,
And those absolutely misleading PR's are NOT worth the paper they are printed on...... kinda like Unico shares
Should I point out AGAIN just how these PR's are VERY misleading???
Mr Bigz....
3 weeks to go and you'll see how much Unico has diluted the OS since the last 10-Q. It ain't gonna be pretty!!!!