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No retail investors will sue WCVC (and win) since the return isn't there.
Nixon's decisions to fund himself with toxic lenders was poor judgment, but no investors had to buy the stock to make money for those lenders and anyone who shorted the stock knowing toxic lending only means the stock goes down.
"I didn't read the filings or didn't understand them" isn't a valid legal basis for suing a company that used toxic lenders.
What we don't know is what Hamilton -- the anti-stock-fraud, anti-toxic-finance, anti-everything-bad-about-penny-stock-abuse lawyer-- is doing for Nixon.
Maybe lawsuits can be or have been filed in Nixon's favor to go after the toxic lenders. Since toxic lenders get paid back by exercising convertible share options and then selling them, some of them have been successfully targeted as unregistered dealers.
Market makers who short a stock on the expectation of toxic lenders exercising their options can get punished by share cancellations if those toxic deals are canceled, perhaps replaced by private funding.
I'm not saying I know any of the above will happen, or are even possible, but these scenarios were discussed by Mark Basile in that interview he did that was linked to on his Twitter page.
The Ilegal Mezcal case was a trademark opposition. The case status:
https://ttabvue.uspto.gov/ttabvue/v?pno=91266421&pty=OPP
says it is "terminated," with "BD DECISION: OPP DISMISSED W/O PREJ", meaning that the Trademark Board dismissed the opposition -- acknowledging the withdrawal of opposition -- 'without prejudice,' which means that it could be brought up again.
However, if the settlement negotiations resulted in a favorable agreement between the two, then likely it will not be re-litigated.
Whether there are other lawsuits related to WCVC/Nixon Restaurant Group/Illegal Brands is (mostly *) unknown.
--
* mostly - there is a landlord case for the Laurderhill FL Illegal Pizza property dragging out in Broward County court, but based on the publicly available free info, it's hard to tell what the open issues are.
I have not been able to find more open cases, but without access to Westlaw, LexisNexis, or other for-pay legal search engines, it's only by luck that Google searches turn up anything, since evidence of any case has to be findable by Google search (duh), meaning someone put the information out there so that a public search engine can spot it.
I've found out about a case or two in the past using Google search that told me about the existence of them, but those cases were publicized by a service that takes pay-access to get the real details. (One of those cases had enough public information to show that the case was dismissed with prejudice, meaning either Nixon won or the court threw it out on a technicality and ruled it could never be refiled.)
Small change re the last Kalaka Facebook update: a picture was added that I'm pretty sure wasn't there when I first posted about the update.
Every few days they've got someone going to the trouble of staging those nice-looking food pix, and then composing these updates.
Maybe one day they'll associate the pix with their online-menu items (which I haven't bothered to check for).
Is your account with Schwab?
As discussed, for myself and a few others, what we're seeing is definitely a change that even Schwab admits is there, despite their feeble explanations for it. That those with IBKR also see it is evidence that it is NOT 'just a glitch' -- at least, not in Schwab's software.
Are you still seeing that, and can you clarify which column it is in? (I am using a laptop, extra monitor, and a web-browser with a lot of screen space.)
My Schwab "Positions" page has $.0001 in the "Price" (per share) column, with a non-zero number in the "Market Value" column (that equals my 'shares' count times the 'price' per share).
I do not see a "trade price" column, which makes sense since it cannot be traded. Since there is no ticker symbol displayed, it has no clickable link on my Positions page like other stocks with a ticker symbol have.
2 new Facebook updates today (12/20):
https://www.facebook.com/illegalburgerco/ (2hrs ago - with a picture)
https://www.facebook.com/KalakaMexicanKitchen/ (1hr ago - without a picture)
Nothing really new, except the picture.
Kalaka Mexican Kitchen Facebook update (12/19):
https://www.facebook.com/KalakaMexicanKitchen/ (1hr ago - their "street tacos")
Since street tacos were supposed to be a Takiza Taco menu entry, I can't help wonder if Nixon has given up on that new restaurant and is just folding his menu offerings into his Kalaka brand.
Now that I think about it, that works about as well as my joke attempt.
(MoneyHoper sounds better, but that's all of us.)
That's OK. While my monetary gender is (having hope in merely) a 'Penny' I self-identify as (having hope in ) larger-denomination 'Bills' ... one day.
Jackpot question that. But it's not that he "can't", but he won't.
My guess (and I'm not saying it's a good guess) is that it's something legal, related to why he let himself get revoked in the first place. Nobody talks about legal matters until the right time, if they can talk about them at all.
You are welcome, but I'm not alone in this. I give credit to a PM sent to me with a link to that letter by Mark Basile. (I've seen the referenced letter by Hamilton before.)
I also thank you and other recent 'returnees' for your added 'keen eyes' that have found interesting things. T53 is also our first-rate aggregator (plus researcher) of all that we've collectively found so far.
Unfortunately, I still think that we're more like astrologers than astronomers, tempted to overlay interpretive stories over facts that we can see because we can't see all the details that prove what is or will be true (i.e., to allow for an accurate prediction).
In 2021, Basile and Hamilton submitted their comment letters to the SEC about Rule 144 changes. What I don't know yet (or maybe I've already forgotten it if I read it) is whether those Rule 144 changes have been made, and if so, whether they incorporate the comments by those like Basile and Hamilton.
Also, so far, there's been no expert feedback on the legalities underlying the appearance of that unsolicited 'bid' showing in Schwab and Interactive Brokers. "We don't know what's going on" is not a very satisfying -- or believable -- answer from Schwab.
This PDF:
https://www.sec.gov/comments/s7-24-20/s72420-8507478-230062.pdf
is a March 16, 2021 comment letter to SEC written by Mark R. Basile, of the aforementioned Twitter/X recent interview. That interview repeated many of the points and examples in this letter.
At its end, this letter contained the following respectful suggestion to the SEC:
The recording is about 1hr 20 mins (maybe a little more), but Mark left after a little over an hour and the host answered questions from somewhere for the remaining time (I stopped listening at that point). The first 5 minutes or so were about overcoming 'is this thing on?' technical difficulties.
I'd recommend listening to it. In addition to the bits I've already pointed out, it's a killer introduction to the dangers of penny stock trading, given that so many penny stocks (especially new startups) are funded by toxic lenders. After an initial pump via PRs, if there is an initial bump in the stock price at all -- as often there is not -- so many of them ALWAYS and ONLY go down, down, down because of dilutive funding.
Also, those companies are NEVER selling directly to retail traders, so it's never true that the company (the evil CEO, etc) is directly stealing investors' money. Those companies get their money from their financiers, who make their money back by dilutive conversion.
Does that let companies off the hook for ethical responsibility to shareholders? Yes and no, for (up to now) those financial structures are legal, so technically what is legal is ethical. But all of those companies know what will happen to their share structure, so it's still true that retail buyers are 'supporting them' by paying back their financiers. Also, but only at best, the financials will publish what sort of funding they have received (convertible shares, warrants, etc.) which, sadly, are all forms of dilutive financing.
Yes, there's plenty of anticipation for relisting. That's almost every post in this forum.
If you really mean is there proof of when WCVC will be relisted that is publicly available to retail traders, then the answer is no, for that is insider information, or very closely held (anyone with professional access to FINRA filings might know, but they'd basically be insiders).
57 minutes in - scenario where unlawful dealing leads to cancellation of unlawfully issued securities. SEC enforcement cases under those scenarios always result in wins for the SEC (or the plaintiff suing the diluter). Disgourgments by the bad guys are huge.
About 54 minutes into it, an interesting scenario on how an issuer can screw market makers who short based on an announcement of "Funding" (which means dilution).
The company does 'something' like cancel the funding agreement, which leaves all the market makers who shorted up Excrement's Creek, because the shares to buy back no longer exist. Maybe the issuer instead found a private backer as a source of non-dilutive funding.
Ha ha.
40 minutes in to the recording: a $50K issued note can make toxic funders $500K.
I must say that I can't imagine how Nixon is going to repair his share structure.
'The word "Funding" in a PR or filing means "dilution."'
'CEO's who have failed a few times have likely learned some lessons that they won't repeat.'
--
Interesting stuff about suits against bad guys.
One attorney sues toxic funders (and wins). Those judgments are public.
Another attorney sues the brokers, who settle. Those judgments are private, so that even if harmed issuers are compensated, their filings really have to obscure the results because the settlements are confidential.
Thanks - but it looks like a recording is available.
It looks like it will be available for 30 days.
Sorry, Google Search gives me too many possibilities. None of them have worked for me.
Even if this is him:
https://twitter.com/BasileEsq
I don't see what to click on to get him live.
Say more, including a link.
Great. (And I wasn't just seeing if you'd read my post to the end.)
We're sort of teetering on the edge of the difference between Astronomy and Astrology.
With hard facts, 'the math,' and known laws of the universe, Astronomers can make pretty accurate predictions that something specific will happen. [E.g. there will be an eclipse of the sun or moon. The sun will rise and set at specific times, as will constellations. & Etc.]
The problem with WCVC is that we can see some of the facts -- WCVC appears to have an unsolicited bid, it has active restaurants, it is actively using social media to advertise, Nixon re-hired a crack-shot securities lawyer as his agent for NRG, a very long and dragged out trademark case brought by Ilegal Mezcal (now owned by Bacardi) has ended, and prior to its end there were 2-years of 'suspension for settlement negotiations' -- but we just don't have enough information, including full knowledge of all of the security laws, to make a 100% sure prediction that Nixon will refile to bring WCVC (or a name-equivalent) public.
[Also, Nixon broke the 'laws' about public filings, got revoked, and has mostly gone silent. At least the penny players think that is unethical.]
So in some respects, we are hanging an astrology-like prediction of success on visible facts without proof of their surety.
You all know that I am hopeful about WCVC since I hold a position that is sizeable for me, but Nixon is holding back either good news or bad news, and nothing we can do -- like cheer ourselves on -- will change his decision making since we hold no leverage over him.
Hopefully he has business backers that do 'hold leverage' over him (or whom he is leveraging); and we know that his agent Brenda Hamilton is not only top notch but is a vehement, pro-active, anti-stock/investment fraud crusader. So I like the way her presence spins the odds in shareholders favor.
But, if he's on the up-and-up, Nixon is playing a long game. He doesn't care about penny stock players.
However, to play his long game, he eventually has to get 'back on the field' and go public again.
As mentioned he has rehired the perfect coach.
Unlike Nixon not caring about penny players, market makers probably do, since they make their money on trades. They are only too happy to take penny players money.
If the (unsolicited) 'bid' showing in Schwab is real, and comes from a market maker, then -- as Trader53's recap posts have shown -- the SEC rules require them to have validated the financials, which they can do privately (from the company or its agent). That's another good sign, but because Schwab claims this 'bid' is really a "glitch," we're back to 'astrology'.
Maybe an expert will weigh in. There are experts on ihub lurking here and there. So far, none have stopped in to deliver a cold-water splash of reality. (Just saying 'the stock is revoked' doesn't count.)
Lastly, per a review of the SEC revocation order, WCVC did have "market makers" (plural), and was eligible for the piggy-back rule to be applied.
I'll bet that Nixon hasn't forgotten who they were, and they haven't forgotten about WCVC. But surely they won't wait on Nixon delaying forever and ever, like he is delaying his Takiza Taco places. If they conclude "coming soon" really means "coming never," then I suppose we'll see our Schwab accounts reset to zero.
If that happens, maybe Joe Botts will still have a drink with me at a nice place in Cape May (as consolation; with or without reading a few Weird New Jersey stories together).
Two new Facebook updates today (12/17)
https://www.facebook.com/illegalburgerco/ (4 hrs ago)
https://www.facebook.com/KalakaMexicanKitchen/ (38 mins ago)
I'd really like to see an expert weigh in on the legal significance of seeing this bid for 3 weeks now (since Nov 30), to confirm that it has to have been placed by a market maker who has seen the company's financials (as a private view is in the rules). If that is true, then does that mean that market maker filed the appropriate FINRA form?
If so ... woo hoo, man.
[But the next question is: how can a market maker make a market for a revoked stock?, unless that is legal, but just unusual, for a grey-market stock.]
Wow, if I only had a brain (cell). Great spotting! It never occurred to me to follow like-links like that.
https://catalystmarketing.co/
Hopefully he's got some 'suggestions' for Nixon to improve his websites; in particular, to take off the dead stuff (like "What's New" -- nothing! -- and Press (also nothing current)). Do you suppose he's behind the up-tick in pretty decent-looking Facebook ads?
But even more, maybe they've got something ready-to-go when (or if -- to acknowledge Joe Botts' skepticism) Nixon files.
New Illegal Burger Facebook post today (12/16):
https://www.facebook.com/illegalburgerco/ (1 hr ago - Christmas Mule)
That's updates for both today.
New Kalaka Mexican Kitchen Facebook update today (12/16):
https://www.facebook.com/KalakaMexicanKitchen/ (5 hrs ago; 10 sec video of Brunch plate)
The Schwab "glitch" is still showing a $.0001/share price.
Any updates/changes in other brokerage's accounts?
New Illegal Burger Facebook post (12/15):
https://www.facebook.com/illegalburgerco/ (3 hrs ago)
Just an ad for "Illegal Burger's Sweet Potato Fries!"
Sorry to say, no one can give you provable estimates for what this will trade at. Frankly, I think the most we all can hope for is that Nixon will not dilute further, nor do a reverse split, so that re-trading excitement will make this go up above .0001.
In 2022, Nixon told the Denver Post that his Kalaka Mexican Kitchen was so profitable that he was opening a new one (which he did). Everything else about the business shows no growth (the same # of Illegal Burgers), a bought-out, opened and then closed El Cazo Mexican Kitchen, a closed Illegal Pizza, and a promised but never (or not yet) opened Takiza Taco & Tequila Bar (supposedly two of them).
Illegal Brands (shopping for CBD Water and CBD packets - big whoop), has been sent to limbo (its website is still on the air, but taken off the Illegal Burger main page, and hopefully it's not actually still selling anything). Why this might be a good thing is that the trademark opposition brought by Ilegal Mezcal (now owned by Bacardi) over an "Illegal Brands" graphic logo has been terminated, hopefully due to positive settlement negotiations.
That WCVC is mysteriously showing a bid in Scwab and International Brokers, plus the fact that Brenda Hamilton has come back to work for Nixon as his agent for Nixon Restaurant Group, are both hopeful signs.
Oh, and Nixon has noticeably increased his rate of 'advertising posts' on his Facebook sites for Illegal Burger and Kalaka Mexican Kitchen. Although no more restaurants have opened, hopefully that means business for both is good.
Re O/S increase from Aug 2020-Feb 2021
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=161525474
Outstanding Shares..5,247,022,456 a/o Feb 02, 2021
https://www.otcdynamics.com/west-coast-ventures-group-corp-wcvc-end-of-day-report-for-january-6-2021/
Outstanding shares: 5,247,022,456 (as of December 1, 2020)
Last 10-Q
https://www.sec.gov/Archives/edgar/data/1551906/000146970920000082/wcvc10qa1_063020apg.htm
Common shares issued and outstanding as of August 18, 2020: 3,452,755,288
Note crazy share volume in December:
https://www.otcdynamics.com/west-coast-ventures-group-corp-wcvc-end-of-day-report-for-december-31-2020/
https://www.otcdynamics.com/west-coast-ventures-group-corp-wcvc-end-of-day-report-for-december-16-2020/ (1.6B shares 12/9/2020)
So we now know that the O/S was increased 1,794,267,168 shares between Aug 18, 2020 and Dec 1, 2022.
[I tried to hand-edit the otcdynamics URLs for earlier dates, but pages were not found.]
Re WCVC O/S structure increases (to always allow facts to correct faulty memory):
https://www.billionaire128.com/triple-000-and-sub-penny-chart-plays-wcvc-innd-18/
Outstanding Shares..7,002,518,141 a/o Jan 24, 2022
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=165936084
Outstanding Shares..7,002,518,141 a/o Sep 13, 2021
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=165305767
Outstanding Shares..6,014,810,475 a/o Aug 02, 2021
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=162662700
Outstanding Shares..5,334,026,801 a/o Mar 15, 2021
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=161525474
Outstanding Shares..5,247,022,456 a/o Feb 02, 2021
Last 10-Q, filed 2020-08-27
https://www.sec.gov/Archives/edgar/data/1551906/000146970920000082/wcvc10qa1_063020apg.htm
Common shares issued and outstanding as of August 18, 2020: 3,452,755,288
--
So, my memory of O/S jumps -- how much and when -- was incorrect, but in the big picture, we see that from the time of the last 10-Q (Aug 18, 2020) to the last figures I could find (posted by T53);
Outstanding Shares..7,002,518,141 a/o Jan 24, 2022
Outstanding Shares..7,002,518,141 a/o Sep 13, 2021
which are just before WCVC went to the Expert Market later in Sep 2021, and then was revoked in Feb 2022, the O/S increased by 3,549,762,853 shares.
So the O/S slightly more than doubled (not quite by the amount I misremembered).
What I have not had time to find is the increments of how much and when the O/S jumped between Aug 18, 2020 and Feb 02, 2021.
Within the last year of trading, going by memory, the total O/S increase was 3.6B added to the previous end-of-year's 3.4B, for the final total (at Expert Market time) of 7B (and change).
I think that increase happened in two chunks, where the 2nd one was that 2B increase. (T53 may have the saved screen shots for the actual amounts and timing.)
Basically, Nixon sold enough shares for someone -- if they were a single entity -- to own just over half the company. Of course, if the buyer wasn't a single entity, then it was just dilution as usual.
It's not exactly 'deep stuff,' i.e., not what I personally consider to be "great info," but I post these updates in the context of WCVC now providing updates on their business offerings every few days.
PRs and filings(!) would be truly "great info," but even Brenda Hamilton (in a comment letter to the SEC a few years back) pointed out a) the value of things like Facebook posts as proof of current operations (i.e., not being an empty shell corp) but b) they are obviously not so weighty that the SEC should require such things to be pre-submitted to the SEC like truly heavy-duty messages to shareholders and the like.
New Kalaka Facebook post today (12/13):
https://www.facebook.com/KalakaMexicanKitchen/ (49 mins ago; Mexican Boozy Chocolate)
Good on them, and good spotting by you.
Feel free to press your luck by pressing them for information about Takiza Taco (www.takiza.com) supposedly moving here:
652 S Colorado Blvd, Denver, CO 80246
which happens to be the address for the Glendale Illegal Burger:
***GLENDALE LOCATION***
652 S Colorado Blvd, Glendale, CO 80246
(303) 753-1300
Oh ho! So Glendale Chamber itself is now forwarding Illegal Burger ads ?!
https://twitter.com/GreaterGlendale
That's interesting. How did you find that?
I also see an Illegal Burger gift card tweet Nov 25.
Nov 3 also had an Illegal Burger tweet. (I stopped scrolling backwards here.)
Very interesting.
Now, who do we ask about the plan to turn the Glendale Illegal Burger into a Takiza Taco & Tequila Bar (same address)?
Brenda Hamilton's views on why stock suspensions and revocations are in the public interest (undated article):
https://www.hg.org/legal-articles/dead-stock-walking-sec-trading-suspensions-of-dormant-issuers-52627
I think she makes some pretty good arguments overall for how bad guys abuse certain stocks which suspension or revocation prevents.
I did find this statement in particular kind of interesting: