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With $65K revenue last quarter and $600,000K cash in hand, yet with a market value of $148 million. This puppy wont be oversold until it hits single pennies, and that will happen in the not to distant future.
By the way this garbage has been a shorters luxury and they are already laughing all the way to the bank. The last 4 days have shown this P&D for what it is.
NNAN - Forrest Gump himself couldn't have predicted the results any better for those trading NNAN today. The sheer stupidty it took to get involved with this ticker actually makes us giddy for the embarrassing losses if even one person learned a lesson. And we screamed "stay away" all morning. Those who pay attention to our tweets hopefully paid heed.
Shares traded an impossible-to-fathom $1.5 million in volume as no less than 55 touts pumped the crap out of this ticker today. There's your first clue: that many newsletters promoting the same garbage at once means that there is a lot of stock to be divested in a hurry. At the end of the day, 98% of the 2,171 trades were overpays* and collective losses topped $478K.
Looking like Shorty is winning again today, contrary to your prediction. Always amazes me at the blind faith that some people have in these scams.
I agree 100% with you however it is not worth arguing with one of the very people that were pumping this when it was at $5 last year.
There are a number of low lifes involved in the peddling of GRLT, and for that reason it's a complete fabrication.
After the 4-1 split on August 8th this will be trading in single pennies, if not lower.
The only relationship to Microsoft that PLPL has, is that Bill Gates and his mates were probably smoking cannabis in Bills garage when they were inventing Microsoft.
I suggest you put the puffer down and come to your senses before posting again.
Yes I'm new, only been playing for 34 years. So if you could enlighten me, due to my lack of knowledge please do so. However there is one thing I have learned in 34 years that you don't need to teach me and that is a scam is a scam is a scam.
Another thing I've learned is there is a bull market and then there is bullsh*t.
$161 Million valuation, but reported S64K revenue last quarter, get real people. This scam is blowing smoke in youe eyes (literally)
The cannabis con is still in full swing
Today's big losers were far and away those that traded the bloated shares of PLPL. The 80% overpay rate translated to collective loses of $4.5 million. While shares may still fluctuate and their short term progress is impossible to predict, they can and will eventually head harshly toward zero.
You people must be puffing to much of the stuff to get involved with this P&D. This POS is heading due South, a real shorters belated Christmas present.
The Company is not a scam, since they have 2 donut shop size restaurants, the valuation and the way they have issued the shares, news and their vision for the future is the scam. These shares have lost 92% of their value since last Spring/Summer and will lose more for new shareholders once the 4 to 1 split comes into effect and the new shares begin trading on 8th August.
YUK!!!! GMUI has been really ugly over the last week or two. Hope all longs got out when they had their chance?
Everybody buying in the first 30 minutes of this Pump and dump will be losing money by the end of the day.
It makes a change, as it is usually the pumpers that takeover and become the board moderators. It's typically the bashers blogs that get deleted.
I take my hat off to you sir, just checked your postings and you have been in this stock since at least November 2011. That is true investing and not the typical fly-by-nights that infest these boards.
I hope you managed to make some money in the recent spike in the share price, you deserve it, and good luck with GMUI in the future.
Make money on this POS??? No thankyou lol.
Are you still holding? Hopefully not?
Wow some people took a real cold bath on this today, up to 35 cents, at the open, and way down to 7 cents now. Now that is what I call getting screwed.
Of course the touts pumping this today will say 7 cents is a 250% profit from last night, but that is cold comfort for anyone buying this today before noon.
Well it looks like this Bellwether stock isn't chiming today, in fact can someone check to make sure the bell still has a hammer inside it.
The fact that this thing has traded approx. 190 million shares in less than 2 days and gone more or less nowhere tells me there are to many people/insiders looking to sell. And lets face it the insiders, the pumpers and the skeptics are the ones that know the real truth about this sham
Each to their own, a number of "players" of penny stocks are attracted to them by being subscribers to the hundreds of pumper newsletters circulating. Others choose to sit on the other side of the fence, P&D.com happens to be on the other side of the fence.
Scams have been going on in the markets for hundreds of years since the Brits came over and started shipping beaver pelts from North America back to London to sell in the money houses. It is a case of the scams being exposed for what they are and P&D.com can usually follow those accusations up with hard facts.
The history of all the cohorts running KGET is there for all to see, in the P&D.com report. It is all fact and as the saying goes a leopard doesn't change it's spots. These criminals are repeat offenders.
I can assure you that I have followed more than enough of these to see the writing on the wall. When a Company makes statements about $100m orders and doesn't back it up with specifics or an 8-K filing, it sends on the warning lights.
This my friend has a very real chance of a suspension. When you get 141 million shares trading in a day when the total float of the company is around 315 million it does attract attention. And I know that the same blocks of shares are moving around but it also tells me that the insiders are more than happy to pass off the shares to anyone that wants them because they know the true value of the Company. And when the world comes crashing down on this "bellwether" it will go well into the sub pennies.
The day traders, are the clever people at play here. Almost every stock that is suspended from trading with an H10, is stopped prior to the 9:30 AM opening bell. Day traders play the percentages and a win is a win, at the end of the day it is greed that kills most people on a P&D.
Now I am not suggesting this bellwether stock has a chance of being suspended, big grin, however stranger things have happened.
Beware......Shortly after we published this advisory, KGET issued a press release which claimed that the company had received a $100 million purchase order. This press release was made with no accompanying 8-K filing, no identity of the customer and no offering of the purchase order. ***WARNING*** This is EXACTLY the kind of press release that instigates SEC trading halts "due to a lack of current and accurate information about the company."
January 29, 2014: Kleangas Energy Technologies, Inc. (KGET) has been a modest OTCQB runner in the second half of January, chiefly on the strength of a couple of vaguely worded contract announcements. Unlike most of the new year's hot penny stocks, it isn't in the marijuana or bitcoin business: it says its subsidiary Green Day Technologies sells "refuse and biomass derived pellets" that can serve as an alternative to eco-unfriendly coal. Not sexy, but the contract announcements got the job done. At least in the dumpers' eyes.
KGET Chart
Prior to early December 2013, KGET had been more or less trading sporadically, but then began to pick up some volume and valuation, though not in what could be called dramatic fashion. All that changed a month later: the stock spiked on 16 January on the first contract announcement, rising from $0.0050 to close at $0.0245 on volume of 277 million. The next day it hit an irrational intraday high of $0.2110, only to fall back on profit taking. For the past week, it's been treading water as traders consider whether it was a two-day wonder, or is a play with legs. Those that bought stock at those inflated prices are wondering if they can meet next month's rent.
KGET's revival began with the reported acquisition of Green Day Technologies, ratified by an agreement signed on 25 November 2013. Kleangas was represented by William Wylie, then its president; Green Day by actor come penny stock hound, Bo Linton, its president. As a result, Green Day was to become a wholly owned subsidiary of KGET. The transaction took the form of a share exchange. The agreement was amended on 25 November; the changes made were not substantive. It was stated that closing was anticipated within ten days, though no SEC filing confirming the finalization of the deal has been submitted thus far. Neither was any audit of Green Day attached as an exhibit to a filing. That is a serious disclosure problem that needs to be addressed.
Bo Linton
By early January, Bo Linton had become CEO of the company, though that was never officially announced. Wylie remained as president.
Bo Linton is an actor with an interest in penny companies. Evidently he longs to play Gordon Gekko. Will he get the role? You be the judge. We think Michael Douglas has nothing to worry about.
Linton is fond of cars, Porsches in particular. That interest led to his peripheral involvement in last year's grotesque Cal-Bay International (CBYI) Pump & Dump disaster. It's a story well-known to anyone who follows OTC stocks: Linton met John Scott of Cambertire, and introduced Scott to his old friend Roger Pawson, a serial penny peculator who's presided over the fast rise and faster fall of a number of OTC issues. Pawson persuaded Scott he needed to go public, and announced the pending acquisition of Cambertire by CBYI. In the end, Scott wisely concluded that the deal he'd be getting wouldn't be good for him or for his company, and terminated the agreement. The stock crashed and burned in the blink of an eye, to the horror of many who believed it'd be their ticket to untold riches.
Linton previously served as President of notorious Albert Reda's GDT Tek, Inc (GDTK). He was appointed to that position in July 2010. As will be seen, GDT Tek, whose registration was revoked by the SEC in July 2013, became Green Day Technologies, KGET's new subsidiary. It is controlled by Linton.
The KGET shell
KGET began life as a Vancouver shell company incorporated in Florida. Its first name was Minex Minerals, but that was changed in 1999 to Redmond Capital Corp. Its officers and directors were from British Columbia and the U.K. It filed an initial Form 10-SB registration statement with the SEC in August 2000.
Redmond Capital never bothered to make any more filings. In August 2007, then claiming a New York City address, it filed a Form 15 to terminate registration.
Something happened in the same year that may suggest the shell, long since abandoned by its original owners, had been hijacked. An S-1 filed in 2009 states that a Brian Goldenberg had applied to the Circuit Court of the Eleventh Judicial Circuit for Miami-Dade County, Florida, to be appointed receiver of Redmond, which was still a Florida company, though not in good standing. Goldenberg had already reinstated the company's corporate status; the judge duly appointed him receiver, and he, in turn, named Mark Renschler sole officer and interim president.
Rentschler controlled an entity called Williams Capital Corp. Williams was granted common and preferred stock sufficient to give Rentschler 99% control of the public company. He then changed its name to Windsor Resource Corp. This series of corporate actions was completed by a 1:2000 reverse split of the common stock.
A few months later, perhaps at the suggestion of the SEC, the registration statement was withdrawn, "due to technical complications during the filing process that left the Form S-1 deficient." There is no way of knowing whether any questions were asked about the receivership and reinstatement of the Florida shell. Sham receiverships are often used to hijack dormant public companies.
Brian Goldenberg is something of a specialist in reinstating and reviving public shells. In 2007, he became a receiver for so many--at least 14--that an Investor's Hub message board was created to discuss what he was up to.
Enter Richard Astrom
Once the S-1 was withdrawn, the shell that was to become KGET sank into obscurity once again. Nearly four years later, on 5 December 2012, yet another S-1 was filed. As required, it filled in some blanks: Renschler had resigned in 2009, and was replaced by Damian Guthrie. Guthrie was in turn replaced by Richard Astrom in 2010. Renschler's shares had been acquired by Astrom, and were subsequently cancelled. Perhaps Guthrie's hasty departure was prompted by the penny stock bar he and Astrom's son Christopher received on 29 October 2010 in connection with a civil suit brought against them by the SEC. Richard Astrom is Guthrie's father-in-law.
Astrom is well known in Pennyland as a shell peddler and serious dilutor. He takes over moribund companies, acquires a great deal of stock at very low prices, sees to it the stocks are promoted, and sells into those pumps. Like Goldenberg, Astrom has an Investors Hub message board dedicated to him and his activities. Over the years--he's now in his 60s--he's created a large number of companies in his home state of Florida and elsewhere. Those that were public did not treat shareholders well. His wife Pamela often works with him, as did their sons Christopher and Mark, until the former was popped by the SEC.
According to the S-1, on 15 August 2012, Astrom resigned as sole officer and directorof the soon-to-be KGET shell. Current President, William Wylie, and Dennis J. Klein were named as directors. Each held 1.02 billion shares of the company's common stock. That did not mean the end of Astrom's connection to KGET, however: he entered into an Exchange Agreement with the company, under which 2 million shares of common, 2 million shares of Series A preferred, and $71,044 of debt were exchanged for a promissory note payable to him in the amount of $275,000. The note was due on 15 August 2013.
William Wylie
At this time, the shell was literally a shell company, as the SEC defines the term: a blank check looking to acquire a business. And acquire a business it did. That transaction involved two separate entities, KNGS Acquisition, Inc. and Kleangas Energy Technologies, Inc. KNGS Acquisition was controlled by Astrom and Barry J. Miller, the attorney who drew up the S-1. Kleangas was controlled by Wylie and Klein, and had been incorporated in August 2011 by none other than Linton's old GDTK boss, Albert Reda, who was listed as resident agent.
The public company was renamed Kleangas Energy Technologies in the S-1 and in the Florida registry, but did not change the name and ticker with FINRA until late February 2013. Since it had also been incorporated in Delaware back in 2008, its name was changed there as well.
The new company's stated ambition was to go into the manufacture and sale of "oxy-hydrogen generation systems and other alternative energy products." At that time, it had $310 in the bank, and, as of 31 October 2012, a whopping 2,416,648,358 shares of common stock were issued and outstanding.
The selling shareholders
Before the December 2012 S-1 filing, KGET had conducted a private placement in which it sold 316.5 million shares of common stock to 11 investors for a mere $25,000. For those purchasers, the paper was practically free at $.000079 per share.
The private placement investors were, of course, the seed shareholders whose stock would be registered by the S-1 offering. Once the filing was deemed effective by the SEC, they'd be free to sell whenever they liked. Obviously, they have been ringing the register.
KGET Seed Shareholders <click to enlarge>
The document specifies that 1947 Inc. is Richard Astrom. Magnolia Equity is Rebecca Guthrie, Astrom's daughter. 1949 Wizard, Inc. is Pamela Astrom, Richard's wife. For Your Information, Inc. is Roger Pawson. Fidelis Deposit Corporation is Barry J. Miller, the attorney who compiled the S-1. Nothing like keeping a scheme incestuous.
All of the selling shareholders declared their intention to unload their entire positions. Among them, the Astroms would be dumping 185,500,000 shares. Pawson, Linton's old buddy, had a mere 2.5 million; perhaps he received them as a courtesy or a tribute. Barry Miller the lawyer is an interesting figure. Coming from Michigan, and licensed to practice law there, he's worked together with Astrom in the past. He spends some of his time in Panama--as do many penny stock people--and his Fidelis Deposit Corporation is registered there, naturally in the names of nominees.
KGET didn't begin trading till the very end of July 2013, so none of the putative sellers could have sold until then. Though there were a few days of heavy volume in August and September--accompanied by several lackluster promotions--it seems unlikely the private placement investors managed to get rid of everything at the prices they were interested in. Today's bigger numbers would bring in a tidy sum for those who'd waited to sell. Perhaps a big family reunion on a tropical island is in order.
Can Bo give the stock a boost?
The S-1 was finally deemed effective on 14 May 2013, after five amendments to it had been filed in response to a rather large number of questions from the SEC. Since KGET was a shell company until that date, Rule 144 will not be available to any holders of restricted stock until a full year has passed. How they must be envious of the Astrom clan.
When the S-1 was filed, KGET had reportedly entered into a branding agreement with a Florida company called Global Hydrogen Technologies, Inc. (GHT) to resell GHT's products. Evidently that didn't work out; GHT is not even mentioned in later financial reports. And so Linton, who by then controlled Green Day Technologies, was called in to work his magic, which continues to consist chiefly of making appearances on Donald Baillargeon's MoneyTV. Despite the name, MoneyTV is far from being a "network," except for those who may believe that's what a YouTube channel is. The show is a perfect outlet for corporate onanists happy to pay $11,999 for three months of "international TV coverage."
Albert Reda
As noted above, Green Day, now a subsidiary of KGET, was originally GDT Tek (GDTK). GDTK, a former Pump & Dump scheme itself, was a mess. As of its most recent SEC financial report, on 30 June 2011 it had 38.8 billion shares of common stock outstanding. Albert Reda had been CEO since 1998. In December 2011, subsequent to the filing of the referenced 10-K, Reda--long known for his unsavory penny stock activities--was arrested by the FBI in a sting operation and charged with mail and wire fraud. He was convicted in November 2013 and will be sentenced next month.
Linton had been appointed president of GDTK before Reda's arrest, and was his logical successor. He took over in early January 2012. The company stopped filing financial reports with the SEC, and trading was suspended by the SEC in July 2013. Its registration was revoked less than a month later.
Even before Reda was convicted, Linton and John Domerego, who was by now a director of GDTK, had taken over GDT Tek, the Florida company. Reda's name had been expunged from the Sunbiz record by as early as 10 January 2012. The name was finally changed to Green Day Technologies in September 2013.
GDTK didn't have much in the way of assets, and nothing in the way of earnings, but even before the registration was revoked and trading ended forever, it began talking about a new venture: Refuse Derived Pellets. On 30 May 2013 it announced a new website, which was designed to be the "future platform of the sale of RDF Pellets." At the site, interested readers are assured that the pellets are eco-friendly, and will help end the energy crisis because they're an alternative to nasty, polluting coal. The kindest way to describe the site design would be to say it's very basic. So is the scant amount of information offered.
Linton himself is voluble on the subject. In his last MoneyTV presentation, he discussed KGET's projects with expected enthusiasm. He described one supposed product as working "like an air conditioner in reverse." Isn't that a heater? Go figure.
There's now yet another website, Kleangas.com, that is far more sophisticated. There, Linton offers several videos, and other material that is attractively presented, though not especially informative. He does not say the company has sold any pellets, or any other product. He instead discusses "pending orders," "pending revenue sources," and a "pending acquisition."
What's odd is that KGET has recently issued two press releases announcing orders that do not seem to be "pending" at all. In the first, from 16 January, it's said that an unnamed client in South Korea has arranged for the delivery of "between 5,000 to [sic] 10,000 Metric Tons of pellets per month" for a full 12-month period, and would represent revenue of $800,000 to $1.7 million monthly. Traders were excited, but neither that PR nor a second--which purported to build on the first, and seemed to suggest that two additional orders had been received--offered much in the way of clarity.
The press announcements were not accompanied by 8-Ks, which suggests that they should not be considered material. Without hard facts and hard numbers, a slick website whose message is simply that Green Is Good isn't worth much. Unless of course you are pumping stock to a gullible public.
In an effort to make KGET more attractive to new investors, the company dramatically reduced its shares outstanding. Klein died last year, and his stock was returned to Treasury. More recently, Wylie gave up his own. That lowered the shares outstanding from over 2 billion to a seemingly more manageable 315 million. It shouldn't be forgotten, though, that the Astroms likely have quite a bit left to dump as soon as they see an opportunity.
What of GDTK's shareholders? What happened to them? Certainly nothing good. Though they still own worthless shares in GDTK, they aren't part of the new company. If they want to join in the KGET "fun", they'll have to buy KGET stock. To judge from their comments online, very, very few feel inclined to do so.
The people giving up their shares tend to be the insiders in KGET that are orchestrating the scam. Same as most P&D's!!!!! I fear for the longs buying into this today on bogus news from a group of people well known for dubious dealings as stated below.
KGET began life as a Vancouver shell company incorporated in Florida. Its first name was Minex Minerals, but that was changed in 1999 to Redmond Capital Corp. Its officers and directors were from British Columbia and the U.K. It filed an initial Form 10-SB registration statement with the SEC in August 2000.
Redmond Capital never bothered to make any more filings. In August 2007, then claiming a New York City address, it filed a Form 15 to terminate registration.
Something happened in the same year that may suggest the shell, long since abandoned by its original owners, had been hijacked. An S-1 filed in 2009 states that a Brian Goldenberg had applied to the Circuit Court of the Eleventh Judicial Circuit for Miami-Dade County, Florida, to be appointed receiver of Redmond, which was still a Florida company, though not in good standing. Goldenberg had already reinstated the company's corporate status; the judge duly appointed him receiver, and he, in turn, named Mark Renschler sole officer and interim president.
Rentschler controlled an entity called Williams Capital Corp. Williams was granted common and preferred stock sufficient to give Rentschler 99% control of the public company. He then changed its name to Windsor Resource Corp. This series of corporate actions was completed by a 1:2000 reverse split of the common stock.
A few months later, perhaps at the suggestion of the SEC, the registration statement was withdrawn, "due to technical complications during the filing process that left the Form S-1 deficient." There is no way of knowing whether any questions were asked about the receivership and reinstatement of the Florida shell. Sham receiverships are often used to hijack dormant public companies.
Brian Goldenberg is something of a specialist in reinstating and reviving public shells. In 2007, he became a receiver for so many--at least 14--that an Investor's Hub message board was created to discuss what he was up to.
Enter Richard Astrom
Once the S-1 was withdrawn, the shell that was to become KGET sank into obscurity once again. Nearly four years later, on 5 December 2012, yet another S-1 was filed. As required, it filled in some blanks: Renschler had resigned in 2009, and was replaced by Damian Guthrie. Guthrie was in turn replaced by Richard Astrom in 2010. Renschler's shares had been acquired by Astrom, and were subsequently cancelled. Perhaps Guthrie's hasty departure was prompted by the penny stock bar he and Astrom's son Christopher received on 29 October 2010 in connection with a civil suit brought against them by the SEC. Richard Astrom is Guthrie's father-in-law.
Astrom is well known in Pennyland as a shell peddler and serious dilutor. He takes over moribund companies, acquires a great deal of stock at very low prices, sees to it the stocks are promoted, and sells into those pumps. Like Goldenberg, Astrom has an Investors Hub message board dedicated to him and his activities. Over the years--he's now in his 60s--he's created a large number of companies in his home state of Florida and elsewhere. Those that were public did not treat shareholders well. His wife Pamela often works with him, as did their sons Christopher and Mark, until the former was popped by the SEC.
The people giving up their shares are the insiders in KGET that are orchestrating the scam. Same as any P&D!!!!! Fear for the longs buying into this today on bogus news from a group of people well known for dubious dealings as stated below.
KGET began life as a Vancouver shell company incorporated in Florida. Its first name was Minex Minerals, but that was changed in 1999 to Redmond Capital Corp. Its officers and directors were from British Columbia and the U.K. It filed an initial Form 10-SB registration statement with the SEC in August 2000.
Redmond Capital never bothered to make any more filings. In August 2007, then claiming a New York City address, it filed a Form 15 to terminate registration.
Something happened in the same year that may suggest the shell, long since abandoned by its original owners, had been hijacked. An S-1 filed in 2009 states that a Brian Goldenberg had applied to the Circuit Court of the Eleventh Judicial Circuit for Miami-Dade County, Florida, to be appointed receiver of Redmond, which was still a Florida company, though not in good standing. Goldenberg had already reinstated the company's corporate status; the judge duly appointed him receiver, and he, in turn, named Mark Renschler sole officer and interim president.
Rentschler controlled an entity called Williams Capital Corp. Williams was granted common and preferred stock sufficient to give Rentschler 99% control of the public company. He then changed its name to Windsor Resource Corp. This series of corporate actions was completed by a 1:2000 reverse split of the common stock.
A few months later, perhaps at the suggestion of the SEC, the registration statement was withdrawn, "due to technical complications during the filing process that left the Form S-1 deficient." There is no way of knowing whether any questions were asked about the receivership and reinstatement of the Florida shell. Sham receiverships are often used to hijack dormant public companies.
Brian Goldenberg is something of a specialist in reinstating and reviving public shells. In 2007, he became a receiver for so many--at least 14--that an Investor's Hub message board was created to discuss what he was up to.
Enter Richard Astrom
Once the S-1 was withdrawn, the shell that was to become KGET sank into obscurity once again. Nearly four years later, on 5 December 2012, yet another S-1 was filed. As required, it filled in some blanks: Renschler had resigned in 2009, and was replaced by Damian Guthrie. Guthrie was in turn replaced by Richard Astrom in 2010. Renschler's shares had been acquired by Astrom, and were subsequently cancelled. Perhaps Guthrie's hasty departure was prompted by the penny stock bar he and Astrom's son Christopher received on 29 October 2010 in connection with a civil suit brought against them by the SEC. Richard Astrom is Guthrie's father-in-law.
Astrom is well known in Pennyland as a shell peddler and serious dilutor. He takes over moribund companies, acquires a great deal of stock at very low prices, sees to it the stocks are promoted, and sells into those pumps. Like Goldenberg, Astrom has an Investors Hub message board dedicated to him and his activities. Over the years--he's now in his 60s--he's created a large number of companies in his home state of Florida and elsewhere. Those that were public did not treat shareholders well. His wife Pamela often works with him, as did their sons Christopher and Mark, until the former was popped by the SEC.
KGET began life as a Vancouver shell company incorporated in Florida. Its first name was Minex Minerals, but that was changed in 1999 to Redmond Capital Corp. Its officers and directors were from British Columbia and the U.K. It filed an initial Form 10-SB registration statement with the SEC in August 2000.
Redmond Capital never bothered to make any more filings. In August 2007, then claiming a New York City address, it filed a Form 15 to terminate registration.
Something happened in the same year that may suggest the shell, long since abandoned by its original owners, had been hijacked. An S-1 filed in 2009 states that a Brian Goldenberg had applied to the Circuit Court of the Eleventh Judicial Circuit for Miami-Dade County, Florida, to be appointed receiver of Redmond, which was still a Florida company, though not in good standing. Goldenberg had already reinstated the company's corporate status; the judge duly appointed him receiver, and he, in turn, named Mark Renschler sole officer and interim president.
Rentschler controlled an entity called Williams Capital Corp. Williams was granted common and preferred stock sufficient to give Rentschler 99% control of the public company. He then changed its name to Windsor Resource Corp. This series of corporate actions was completed by a 1:2000 reverse split of the common stock.
A few months later, perhaps at the suggestion of the SEC, the registration statement was withdrawn, "due to technical complications during the filing process that left the Form S-1 deficient." There is no way of knowing whether any questions were asked about the receivership and reinstatement of the Florida shell. Sham receiverships are often used to hijack dormant public companies.
Brian Goldenberg is something of a specialist in reinstating and reviving public shells. In 2007, he became a receiver for so many--at least 14--that an Investor's Hub message board was created to discuss what he was up to.
Enter Richard Astrom
Once the S-1 was withdrawn, the shell that was to become KGET sank into obscurity once again. Nearly four years later, on 5 December 2012, yet another S-1 was filed. As required, it filled in some blanks: Renschler had resigned in 2009, and was replaced by Damian Guthrie. Guthrie was in turn replaced by Richard Astrom in 2010. Renschler's shares had been acquired by Astrom, and were subsequently cancelled. Perhaps Guthrie's hasty departure was prompted by the penny stock bar he and Astrom's son Christopher received on 29 October 2010 in connection with a civil suit brought against them by the SEC. Richard Astrom is Guthrie's father-in-law.
Astrom is well known in Pennyland as a shell peddler and serious dilutor. He takes over moribund companies, acquires a great deal of stock at very low prices, sees to it the stocks are promoted, and sells into those pumps. Like Goldenberg, Astrom has an Investors Hub message board dedicated to him and his activities. Over the years--he's now in his 60s--he's created a large number of companies in his home state of Florida and elsewhere. Those that were public did not treat shareholders well. His wife Pamela often works with him, as did their sons Christopher and Mark, until the former was popped by the SEC.
You don't get what?
To stay within posting guidelines I have included a very small part of a document that came to me via a well known group into my email box at 8:51 PM last night. To avoid a further deletion I cannot name the group. Please read the 2nd paragraph.
The Nightly Recap: January 27, 2014
What a day! Today's SEC imposed trading suspension on OLIE and HSCO followed Janice Shell's very first editorial for us in which she precisely detailed the reasons these tickers would be halted. Amazingly, many were still left holding the bag and surprised that the suspensions were imposed. In the meantime, the website set a record hit count, subscribers were signing up for paid and free subscriptions at a frantic pace and the kudos, like this one, kept coming all day long.
Well get ready, because tomorrow Janice blows the lid off of KGET. Dismiss our newsletter at your own peril.
Unfortunately P&D.com went paid subscription as of 10:00 AM today so only paid members will get the email alerts. I'm not currently active enough in the Pinks to justify buying it.
The article may or may not bring it down, what normally happens is the fact it is a scam will bring it down the same as PWEI, PCWT, PVEN, VIZS, TRLI, KNKT, OLIE, XUII to name just a few.
And a few of those named were instrumental in Awsome Penny Stocks running for cover with their tails between their legs.
I have the original email still on my home computer so when I get home from work I will prove I'm not telling lies.
Deleted it from my deleted folder just after my first post, so unless you can inform me how to recover a deleted subject after deleting it from the deleted folder then its gone.
We will see wink wink.
You are 100% incorrect KGET was mentioned on one of 2 emails that P&D sent out last night to subscribers. The article will be released sometime today, it didn't say at what time.
Janice Shell is putting out the article sometime today as stated on the pumsanddumps email from late last night, which incidently was the last night to register for their new paid subscription.
Subject of a Major Pumpsanddumps.com article today, this will get hammered. Their recent articles on OLIE & HSCO proved true yesterday when both were suspended, I have a feeling this will follow the same path.
Grillit getting grilled again.
Yes you have around 37 million shares today worth approx $15 million. As of 8th August there will be close to another 150 million trading shares combined with the 37 million existing. That means 187 million shares divided into the same $15 million. This equates to 8 cents per share at todays prices.
I will also reiterate again. ANYBODY BUYING GRILLIT SHARES TODAY DO NOT QUALIFY FOR THE 4 EXTRA SHARES FOR TRADING AS OF AUGUST 8TH you had to hold shares on 7th August 2013 to get the extra shares.
This is one very ugly bear trap STAY AWAY!!!!!!!!!!!!!!
Any shares bought today and held beyond the 4 to 1 stock split on the 7th August, 'could' lose 80% of their value. People buying today don't qualify for the extra shares.
Not sure how long you have been following Grillit but for your information all holders of shares, on or around, August 6th 2013 received 4 extra shares for every share they held (on Paper). However those shares are not able to start trading until August 7th 2014. So those people holding now are getting rid of what they own as from the 7th August this year there is basically a 4 - 1 split taking place because there will be 400% more shares in circulation for trading. Savvy investers now this however the Newbies will get slaughterd. Anybody buying shares after last August WILL NOT get the extra 4 shares on August 7th 2014, but they will suffer the dilution, in the shares value, when the new shares trade.
Didn't run green, just red. Reality sets in again, just another scam for the insiders to dump their worthless stock into.