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***SHMN dilution update 10/24/2018: 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 10/24/2018: STILL DEFUNCT & DELINQUENT. Even after 6 straight months of cluelessly claiming they’re days away from fixing their issues
Makes you wonder what other fraudulent or misleading things they’ve been doing over the past few years.. probably one of the worst scams on OTC
Love how some still believe the lies put out by the company. Can someone tell me how many weeks/months/years they’ve been claiming that current is right around the corner?
Wonder what they meant by mid-April.. LOL lost count of how many times they’ve pulled that
SHMN is forced to use Twitter and Wordpress to publish “official” news and information now after it was revealed they were publishing entirely fictitious press releases on their official publishing medium. They’ve officially established themselves as malicious and unethical and have now lost the ability to represent themselves as competent or even remotely trustworthy in civil or criminal courts.
They are condemned and the OTC has appropriately downgraded them to DEFUNCT
Next up: SEC suspension, gray market, revocation and delisting.
You might want to start with Nevada, where the company incorporated as a California domestic corporation. Call any Nevada business law firm and ask them what Nevada’s definition for a corporate director’s “physical address” is, as well as the physical address and business license requirements for an out-of-state domestic corporation with zero presence within the state.
Does anyone know if SHMN has a California business license? Oh wait, I already know from my due diligence...
Have fun!
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?
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=142801783
First of all, I said representative of the company. Unfortunately, this company has no representatives or employees to meet with and the “CEO” is, also unfortunately, a faceless alias on a piece of paper.
Second, I went to the “corporate office” in May to see if there was anyone there to speak with. Unfortunately, their “suite” was a small mailbox inside a retail shipping business inside a shopping complex.
I guess sarcasm doesn’t work on this board.. sometimes I wonder if some still believe SHMN’s fake PRs are real too..
Gotta feel bad for this inexperienced director, walking into a worthless disaster of a company plagued with fraud, possible insider trading and total distrust from the OTC and shareholders. Too bad this CEO hasn’t been brave enough to show his face or voluntarily come forward to speak with investigators.
I requested to meet with a company representative at the corporate mailbox 5 times earlier this year and was ignored or denied every time. Wonder if this director will handle things differently...
Hoping he does the right thing and files for bankruptcy rather than steal more from his shareholders
CEO is doing a great job of covering up the damning revelation that SHMN has been publishing entirely fictitious and misleading information in PRs concurrent with insiders diluting and selling shares.
Isn’t that criminal? Oh wait, that’s why the CEO resigned and went back into hiding!
Fake like SHMN’s FICTITIOUS PR SCANDAL
Rumor is more dilution is coming to facilitate the following like usual:
1. Pay the CEO’s (only employee) undocumented salary (concealed from shareholders for over 3 years then presented 3 years later, after massive dilution and share structure changes, using completely unverified, unaudited and unrealistic financials initially rejected by the OTC)
2. Pay for undocumented and unexplained “consulting” services from an unnamed “financial institution”
3. Supplement the company’s lack of products, sales or revenue
4. Pay rent (for the mailbox, aka their corporate office)
Just to set the record straight, this “successful” company has diluted shareholder equity by 800% in recent years. In other words, they’ve had to borrow almost every last dime shareholders have invested because they’ve blown all of their own money and are actively defaulting on their financial obligations, requiring seizing of their shareholders equity to avoid bankruptcy.
It’s similar to someone losing their job, borrowing as much as they can from banks and family members to pay for food and rent, then lying about having jobs and invenstments lined up but insisting that a few more dollars are needed to complete the deals when in reality they’re just pushing off the inevitable.
Also similar to the Nigerian prince choosing a lucky investor to send $200 billion to, but requesting an up-front donation of $500 to cover the money wiring costs.
Also similar to any pyramid scam. SHMN’s oringial promise was to bring wealth and fortune to investors through their success and profits, just requiring purchasing shares and confidently holding them long-term. A $1.00 investment at inception is now worth about $0.00 because SHMN borrowed it. SHMN now has nothing left of that borrowed money: no assets, no royalties, no patents, no products, no licenses, no sales... NOTHING. Strange how the past CEO’s still have their salaries...
This company is under water and resting on the sea floor. Their only asset is debt. Everything else mialeading just like their fake PRs.
***SHMN dilution update 10/22/2018: 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 terminal suspension possibly as soon as this week.
***SHMN OTC UPDATE 10/22/2018: STILL DEFUNCT & DELINQUENT... even after 6 straight months of cluelessly claiming they’re days away from fixing their issues
“This is the week” ignore the last 27 weeks... LOL
So when’s SHMN hitting gray market for their fictitious PRs? Guessing it’ll hit before this hits “current” strange how they promised current status back in March - April... were those fake PRs or just incompetence?
SHMN OTC UPDATE 10/20/2018: DEFUNCT & DELINQUENT, even after 6 straight months of cluelessly promising current
LOL!!! Submitting leaglly-mandated 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 summons. Wait 3 years to respond? LOL
**SHMN dilution update 10/18/2018: 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 terminal suspension possibly as soon as this week.
Nothing has changed since SHMN hit .0002 and .0001, other than dilution.
26 straight weeks of “rumors” and all that’s happened is OTC downgrading them to defunct, next possible step is revocation or delisting. Again, 26 straight weeks (actually 3 years of empty promises and delinquent if you think of it) and NOTHING
***SCAM ALERT: SHMN has ZERO presence in the US other than a rented PO box in Anaheim they fictitiously used as their physical address in their articles of incorporation. They have NO employees and NO drugs or products approved for sale in the US and THEREFORE have no legal or legitimate sales in the US. They generate their revenue from selling shares, fabricating fictitious PRs and using made up, unverified and unaudited numbers to make inexpericed investors believe they are a legitimate company.
Don’t take my word for it, 5 minutes of due diligence will reveal how defunct and worthless their failed operation in India was.
All IMO. Don’t get trapped, SHMN’s bills are coming due again. Time for more dilution and A/S increases!
Rumor is another mysterious undocumented 4-year-old convertible note is going to be pulled out a hat and used to issue new shares.. only question is how many hundreds of millions will this one be for
****UPDATE-10/18/2018: SHMN’s fictitious PR scandal now fully qualifies 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 graveyard. 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???)
MASSIVE DILUTION ALERT: SHMN recently DOUBLED their A/S. They’ve diluted shareholder equity by approximately 800% in the past few years.
Wrong. OTC downgraded SHMN to DEFUNCT upon receipt of the filings almost 6 months ago, told SHMN to learn basics of accounting and try again later
Wrong. That is an unverified Wordpress blog post, not a press release. OTC recently DOWNGRADED them to DEFUNCT. That’s the only official word from OTC. Can’t trust anything a fake shell company with a history of publishing fraudulent PRs puts out.
Run into 99.9% losses when the SEC suspension hits.. not interested sorry
LOL!!! Yeah only company running fake PRs, going delinquent 3+ to cover up years of dilution and mishandled accounting, coming up with 4 year old $200k+ convertible notes to unnamed insiders, refusing to disclose who was responsible for the fake PRs without federal subpoena or indictment..
Only presence in US is a rented mailbox
THE LIST GOES ON AND ON
SHMN: bankrupt shell company, fake PRs, pump&dumps, dilution, only presence in US is a rented PO box, no products/sales/employees
Every PR in 2018 other than the CEO resigning to flee from pending investigations has either been confirmed FAKE or published by a group that publishes FAKE information
Same here. Next rumor is SEC suspension hitting this month.
*****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???)
What’s their explanation for the illegal cross-trading used to inflate the price at the exact same time the shares quietly slipped into the market? That’s okay... they can wait for a subpoena to open their books. Rumor is the former CEO is in hiding now praying the FBI doesn’t look into his accounting LOL
Correct! SHMN is forced to use Twitter and Wordpress to publish “official” information now after it was revealed they were publishing entirely fictitious PRs on their official publishing medium. They’ve officially purgered themselves and have now lost the ability to represent themselves as competent or trustworthy in civil or criminal courts.
They are condemned and the OTC has appropriately downgraded them to DEFUNCT
Next up: SEC suspension, gray market, revocation and delisting.
.0004s up BID WIPED OUT! That lasted a whole 24 hours! LOL
**SHMN dilution update 10/17/2018: 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 terminal suspension any day
Wrong. SHMN doesn’t follow mandated guidelines. They went delinquent on accounting for 3 years and are now implicated in an investigation into their involvement in a 2500% cross trading promotion using entirely fictitious PRs published by an authorized agent of the company to facilitate the sale of 108 million shares (for a mysterious convertible note issued to an unnamed party with zero paper trail anywhere).
2500% run based on an non-existent “binding LOI” yeah right.
Insider trading. Pretty sure that’s not allowed..
Correct! SHMN recently DOUBLED their A/S. They’ve diluted shareholder equity by approximately 800% in the past few years.