Taylor is in Florida, mate. He's working hard on beneficial products and services to offer through this enterprise. He's gearing up for action. He doesn't want a dish served cold to the shareholders.

I do apologize for doing a reverse split without notice. Certainly, you shouldn't think this is related to the press release. Paul and I had to have the paperwork in weeks ago.

Understand that I needed the share price to be higher so I could deposit certificates at Scottrade. I need to get this to $1 to accomplish that.

I haven't decided whether to do a forward after I clear all my shares in nominee company names.

I'll keep everyone posted with lots of surprises.

I like it, it will run again.

I will let the price rise if I can get a few more market makers in this. My efforts to bring volume to the stock have been hampered by a couple guys in the compliance department at Ameritrade and Schwab. Anyone willing to play ping pong with some shares, it'll only cost you commission and we'll draw interest from the masses. If I can get the volume up, I promise Paul will issue a press release about some acquisitions or dividends.

I am going to bring delight to this stock.

I have to sell some to create volume, otherwise there would be no liquidity. Paul Taylor and I, through our nominee creditors and share conversions, will act as underwriters for this stock. We're keeping volume going on both the buy and the sell price. It's quite an experiment playing market maker.

Having trouble buying this stock.

All NCVT shareholders will receive 2 DIBZ shares per NCVT share under the cognovit note executed in 2009.

Joanna Chmielewska is an anagram for A Claim Weakens John.

I hope I have made everyone who bought in subpenny very happy. I will continue to work with Paul Taylor to bring volume and volatility. Your job, my frienz, is to buy low and sell higher while flipping this bird. Enjoy the revolution, mates, and avoid the wankers.

I preordered a few of these but wonder how they will handle the chip cards

jmon merging with dibz

But there was no mention of any bankruptcy in their SEC filings. I wonder how the SEC found out.

We are in the process of hiring Marshal Schitmann over at DIBZ as our corporate counsel.

We are in the process of hiring Marshal Schitmann over at DIBZ as our corporate counsel.

I got this up to a penny with a $5.00 trade! Won't you all invest with me? I think we'll get it much higher during the pump which will happen once I write up some juicy PRs.

DIBZ: Having helped with DIBZ management formulate a share underwriting plan, I can state with my certification that this is the stock to buy. This post constitutes a solicitation for you to invest all of your retirement in my latest baby, DIBZ.

Merger's gonna be the bong dibz! According to a certain stock group that announced the merger, this might be a marijuana stock coming in-- although management might have second thoughts about that because SEC lookin' at the inflated pot stocks. I'm hoping they stick with their tech line which is easy to give a lot of news, increase volume.

What a spread between the bid and the ask here on DIBZ, my favoooooorite stock. I'm going to try to use my skillz to get some liquidity here. Now, there'll be a little dilution, but there's only 818,000,000 shares in the float (up a bit from 51,000,000). If I can do this slowly and evenhandedly, through my underwriter friends, everyone will succeed.

To the moon we go! Go DIBZ!

When I first starting getting involved with DIBZ, I was skeptical. But after talking to my phriends, I decided I would hire a few people from Panama that I know are good engineers. Here's a list of officers, you'll note that I'm not one of them.

reasurer - MICHAEL ANZALONE
Address 1: 2360 CORPORATE CIRCLE Address 2: #400
City: HENDERSON State: NV
Zip Code: 89074-7739 Country:
Status: Active Email:
Director - PAUL R TAYLOR
Address 1: 2360 CORPORATE CIRCLE Address 2: #400
City: HENDERSON State: NV
Zip Code: 89074-7739 Country:
Status: Active Email:
President - PAUL R TAYLOR
Address 1: 2360 CORPORATE CIRCLE Address 2: #400
City: HENDERSON State: NV
Zip Code: 89074-7739 Country:
Status: Active Email:
Secretary - MARK WOOD
Address 1: 2360 CORPORATE CIRCLE Address 2: #400
City: HENDERSON State: NV
Zip Code: 89074-7739 Country:
Status: Active Email:

I like fun.

I'd like to hear about your due diligence findings here since I will be providing konsulting services to the enterprise!

DIBZ is my new company. I look forward to getting the wheels in motion and to the mooooooooooon.

Just a flake. Pms are instantaneous, put unable to be deleted.

1. You shouldn't believe a word I post, and I fall into the loser category.

2. I have no problem with Corey Ribotsky's position, it's the way he asserts it.

3. There is no end game.

Why didn't he file a motion to appear by telephone?

Corey Ribotsky appears to be a poor loser even on matters that are just technicalities. Alternatively, his lawyers hoodwinked him into allowing them to run up the bill.

I never said I wasn't interested, read your pm.

Hmph.

I bought a couple thousand dollars worth of TUBM on the open market based on their PRs that they were rolling out a nationwide music channel. Really they concealed a bunch of crap according to the class action.

Millions of dollars were lost by other people, but the class only paid $800,000 total, 30% which went to the attorneys.

So you see who made the bucks.

I opted out as I would have gotten like $50 or something.

I'll probably sue in small claims to recover it.

Looks like the Fifth Circuit reinstated my Netco/Privada appeal despite Corey Ribotsky's attorney trying to run up the legal tab by filing some whining, crying brief personally attacking the litigants.

Corey should understand something-- the appeals court has a standing policy to reinstate if an application is made within a fair amount of time and no prejudice occurs.

Instead of talking about prejudice, he whined about bad people hurting his little billionaire offshore money hiding money laundering foreign tax haven funds.

But when I litigate against his funds, I'll do it in Belize where they are at. He can hop a plane and come for a deposition, and I'll show him the briefs his legal counsel wrote that hurt my feelings and see if the Belize judge agrees.

K.K.M.M.

You misunderstand appeal terminated. The judge was referring to the 28 USC 636 objections to the Magistrate Judge's recommendations. Some older judge's refer to them as appeal.

You think?

Dear Vstarr,
I need a job.

I paid my filing fee but they didn't mark it.

Many people learned I resigned as consultant so they are selling.

i m willing 2 listen 4 sure

SEC revokes Lexington Resources


2009-06-05 14:51 ET - Street Wire

Also Street Wire (U-*SEC) U.S. Securities and Exchange Commission
Also Street Wire (U-LXRS) Lexington Resources Inc

by Mike Caswell

The U.S. Securities and Exchange Commission has issued an order revoking the registration of Lexington Resources Inc., the pink sheets company allegedly used in a pump-and-dump by Vancouver promoters Grant Atkins and Brent Pierce. The order comes 10 months after the regulator filed an administrative case in which it claimed that Mr. Pierce and his associates made $13-million dumping Lexington as the stock rose to $7.50. (All figures are in U.S. dollars.) The order named Mr. Pierce, Mr. Atkins and Lexington Resources as respondents.

To settle its part of the case, Lexington agreed to today's order revoking its registration. The SEC notes in the order that the company is delinquent in its filings, having not filed an annual report since May 17, 2007, and that it liquidated its only operating subsidiaries in Chapter 7 bankruptcy proceedings.

The SEC's case

The SEC launched the case in an administrative order dated July 31, 2008. It identified Mr. Pierce, 52, as a Canadian living in Vancouver and the Cayman Islands, and Mr. Atkins, 49, as a Vancouver resident. The regulator claimed that Mr. Pierce co-ordinated spam e-mails and newsletters touting the company while he sold his shares through an offshore bank. He allegedly failed to disclose that he controlled as much as 60 per cent of the company.

The SEC said the scheme began in November, 2003, when Mr. Atkins and Mr. Pierce formed Lexington through a reverse merger with a shell company called Intergold Corp. Mr. Atkins was the sole officer and director of the company and Mr. Pierce was a "consultant" who received millions of shares in improper S-8 offerings, the SEC claimed. "Between November 2003 and March 2006, Atkins caused Lexington to issue more than 5 million shares to Pierce and his associates purportedly registered on Form S-8. Pierce told Atkins who should receive the shares and how many," the order stated.

Shares issued in S-8 offerings are normally reserved for those who are not involved in promoting or selling a company's stock, an exemption that did not apply to Mr. Pierce, the SEC said. He allegedly raised all of the money for Lexington's first year of drilling by finding investors who provided loans. The SEC said he transferred some of his S-8 shares to those investors.

In addition, the SEC alleged that he used his S-8 shares to pay for an extensive promotional campaign. He arranged for spam e-mails, newsletters and advertising on investing websites, according to the order. He also distributed promotional kits to thousands of potential investors, the SEC claimed. As a result of the promotion, the stock went from $3 to $7.50 per share, with average trading volume increasing from 1,000 to about 100,000 shares per day, the SEC said. (The stock subsequently collapsed, and last traded for two cents.)

During the promotion, Mr. Pierce and his associates allegedly sold 2.5 million shares that they had deposited at an offshore bank, generating $13-million in proceeds, the SEC claimed. "Pierce personally sold at least $2.7 million in Lexington stock through the offshore bank in June 2004 alone. Pierce's sales were not registered with the Commission," the order read.

The SEC also cited Mr. Pierce for failing to disclose his ownership of the company. It said he controlled between 10 per cent and 60 per cent of Lexington's shares between November, 2003, and May, 2004, but did not file a single Schedule 13D disclosing any share ownership until July 25, 2006. When he did file the belated Schedule 13D, it inaccurately stated that he owned or controlled between 5 per cent and 10 per cent of the company in late 2003, the SEC claimed.

The SEC did not state what penalties it is seeking for the alleged pump-and-dump. Mr. Atkins settled with the regulator on Nov. 26, 2008, agreeing to an order barring him from future violations of the U.S. Securities Act. With the Lexington settlement, the case only remains outstanding against Mr. Pierce.

vFinance case

In a related case, the SEC fined Florida brokerage vFinance Investments Inc. $100,000 on Nov. 7, 2008, for failing to produce e-mails during the Lexington investigation. The SEC said it was seeking information on two of the firm's clients. It identified one as Newport Capital, and the other as Hypo Alpe-Adria Bank of Liechtenstein. (The SEC made no allegations against either client, but one, Hypo Alpe, received a cease trade order from the B.C. Securities Commission on May 28, 2008. The regulator stated that Hypo Alpe was a conduit for suspicious trading. The bank had refused to disclose the identities of clients who had sold $165-million worth of stock in several pink sheets and OTC Bulletin Board companies, citing privacy laws in Liechtenstein.)

The SEC claimed that the brokerage permitted one of its employees, Nicholas Thompson, to use an external webmail service, against brokerage policies. This allowed him to circumvent the brokerage's e-mail storage system. The SEC also sought to examine Mr. Thompson's computer, but he did not produce it until six months later. When the SEC did finally receive the computer, it found no useful information. The regulator said it hired a forensic investigator, who determined that somebody had run a data destruction program on the drive.

BCSC previously banned Pierce

On June 8, 1993, the BCSC banned Mr. Pierce for 15 years, after he improperly received money from Bu-Max Gold Corp., a former Vancouver Stock Exchange listing. According to an agreed statement of facts, the company raised $210,000 in May, 1989, for exploration. It paid $100,000 of that money to a private company controlled by Mr. Pierce "for purposes which did not benefit Bu-Max," the statement read.

In addition to the 15-year ban, Mr. Pierce agreed to pay a $15,000 fine. That ban expired on June 8, 2008.







A fee has not been paid to Stockwatch to distribute this bulletin.
STOCKWATCH DOES NOT SELL OR DISCLOSE ITS MAILING LIST TO ANY THIRD PARTY.
You are subscribed to this mailing list because you registered at www.stockwatch.com

SEC wins $2.04-million (U.S.) order against Pierce


2009-06-09 14:16 ET - Street Wire

Also Street Wire (U-*SEC) U.S. Securities and Exchange Commission

by Mike Caswell

The U.S. Securities and Exchange Commission has secured an order requiring Vancouver promoter Brent Pierce to disgorge $2.04-million that he made by selling shares of Lexington Resources Inc., a now-defunct pink sheets oil and gas company. (All figures are in U.S. dollars.) The order, contained in a decision handed down Friday by Administrative Law Judge Carol Foelak, comes 10 months after the SEC filed an administrative case alleging that Mr. Pierce and his associates made $13-million dumping Lexington as the stock rose to $7.50. It claimed that he co-ordinated an e-mail spam campaign and newsletters, while selling the company through an offshore bank.

The SEC convened a three-day hearing in Seattle on Feb. 2, 2009, to hear arguments in the case. Although Mr. Pierce was represented by his lawyer, Christopher Wells, he did not personally testify. He said that he was concerned he could be arrested if federal prosecutors discovered he was at the Seattle courthouse because they are investigating him for another company, CellCyte Genetics Corp.

Judge Foelak's decision

The judge, in a decision dated June 5, 2009, stated that Mr. Pierce's failure to appear in person was unexpected, and that she was entitled to draw an adverse inference from it. The SEC had called Mr. Pierce as a witness, and the hearing had been scheduled for February because Mr. Pierce had indicated he would not be available to testify in December. "Pierce's failure to give assurances against future violations or to recognize the wrongful nature of his conduct is underscored by his failure to appear in person and give testimony on these or any other topics," her decision reads. Instead of having in-person testimony, the judge treated his earlier depositions, which were taken in Vancouver, as testimony.

In finding against Mr. Pierce, the judge described his conduct as "egregious and recurrent." She said he sold unregistered shares of Lexington and took active steps to evade the reporting requirements of the U.S. Securities Act. In addition to the disgorgement order, the judge entered an order preventing future violations of the U.S. Securities Act.

One of the SEC's allegations was that Mr. Pierce was a behind-the-scenes control person at Lexington during the pump-and-dump. The judge agreed, noting that he held over 10 per cent of the company's shares and had considerable sway over the company's chief executive officer, Grant Atkins. The men met in the early 1990s, when Mr. Pierce hired Mr. Atkins to write a business plan for a company. They have since worked together at 10 companies, the judge said. During the Lexington promotion, Mr. Atkins consulted with Mr. Pierce repeatedly about the company. They spoke multiple times every week during 2003 and 2004, the judge found. In addition, Mr. Pierce directly controlled Lexington's consultants.

The judge also agreed with the SEC's allegation that Mr. Pierce executed several share transactions to avoid having a 10-per-cent ownership interest in Lexington, which would have triggered reporting requirements. In one of these transactions, Mr. Pierce assigned shares to Newport Capital Corp., a private Belize company. "Pierce testified that he transferred 350,000 shares to Newport to satisfy some of his debt to Newport; Atkins testified that the transfer was to enable Pierce to avoid having a ten percent beneficial ownership in Lexington," the judge stated.

Mr. Pierce claimed he did not own Newport, but the judge disagreed. She found that he was the beneficial owner, president and director of the company. She said he received a salary of $800,000 from Newport in 2005.

The judge said that Mr. Pierce used Hypo Bank of Liechtenstein as a conduit to sell his shares during the alleged pump-and-dump. As of April 30, 2004, he held 446,683 shares there, which he had sold by September, 2004, for gross proceeds of $2,113,362, the judge found. His total cost for the shares was $70,000, leaving him with a profit of $2,043,362. (On May 28, 2008, the B.C. Securities Commission issued a cease trade order against Hypo Bank, stating that it was a conduit for suspicious trading. The bank had refused to disclose the identities of clients who had sold $165-million worth of stock in several pink sheets and OTC Bulletin Board companies, citing privacy laws in Liechtenstein.)

Judge Foelak also noted that the BCSC banned Mr. Pierce for 15 years in 1993 after he improperly received money from Bu-Max Gold Corp., a former Vancouver Stock Exchange listing. The company raised $210,000 (Canadian) in May, 1989, for exploration. It paid $100,000 (Canadian) of that money to a private company controlled by Mr. Pierce for purposes which did not benefit Bu-Max.

The judge declined a late request by the SEC to increase the disgorgement by $7-million. After the hearing, the regulator said it had discovered new evidence indicating that Mr. Pierce had received an additional $7-million in ill-gotten gains by selling shares through two companies, Jenirob Company Ltd. and Newport Capital. Based on this evidence, the SEC asked her to raise the disgorgement, but the judge refused. She said she could not order disgorgement for any shares that those companies may have sold, because the SEC made no mention of either company in its initial order instituting proceedings.

The order from Judge Foelak is an initial decision, which means that Mr. Pierce has 30 days to appeal her findings or file a motion for reconsideration. After that, the decision becomes binding.







A fee has not been paid to Stockwatch to distribute this bulletin.
STOCKWATCH DOES NOT SELL OR DISCLOSE ITS MAILING LIST TO ANY THIRD PARTY.
You are subscribed to this mailing list because you registered at www.stockwatch.com

SEC target Offill loses bid to move case home


2009-06-10 14:39 ET - Street Wire

Also Street Wire (U-*SEC) U.S. Securities and Exchange Commission
Also Street Wire (U-AVLL) AVL Global Inc

by Mike Caswell

Phillip Offill, the former U.S. Securities and Exchange Commission lawyer indicted for fraud, has lost a motion to have his criminal case moved from Virginia to his home state of Texas. U.S. District Judge Liam O'Grady issued an order denying the motion on June 2, 2009. He did not provide his reasons. Mr. Offill had sought to have the case moved from Virginia on the grounds that the indictment does not allege that he committed any fraud in that state. He also said that he could not afford a lawyer in Virginia, and that a friend in Texas had agreed to represent him there.

Prosecutors allege that Mr. Offill and a former associate, David Stocker, helped promoters of several OTC Bulletin Board companies obtain millions of unregistered shares in their companies. One of the stocks was AVL Global Inc., an alleged pump-and-dump run by Ontario father and son Peter and Tyler Fisher. Mr. Offill pled not guilty to the charges on March 27, 2009, and he is currently free on a $50,000 bond. (All figures are in U.S. dollars.)

While the judge denied Mr. Offill's motion for a change of venue, he did approve his request for a federal public defender. Mr. Offill made the request on June 8, 2009, citing his financial condition, and the judge approved it the same day. The judge said he had reviewed a financial affidavit from Mr. Offill (which is sealed) and had determined that Mr. Offill was indigent.

Offill's indictment

Prosecutors indicted Mr. Offill in the Eastern District of Virginia on March 12, 2009. They claimed that he and Mr. Stocker were behind a scheme that helped insiders of nine companies obtain millions of free-trading shares in violation of the registration requirements of the U.S. Securities Act. To facilitate the scheme, Mr. Offill allegedly incorporated private companies in Texas and purported to have those companies buy shares of the public companies using a Rule 504 exemption, which applies to accredited investors who do not intend to resell the stock. Then he transferred those shares to insiders using legal opinions prepared by Mr. Stocker, according to the indictment.

In the case of AVL Global, Mr. Offill and Mr. Stocker allegedly helped the Fishers obtain 10 million free-trading shares. Prosecutors claimed that Mr. Offill, in one of the transactions, purported to buy five million shares of the company on July 27, 2004, for $50,000. The same day, he sent a signed, blank stock transfer form for those shares to Mr. Stocker, the indictment stated. Mr. Stocker then signed an opinion letter stating that the shares complied with Rule 504, and could be freely traded, and transferred them to entities designated by the Fishers, according to the indictment.

(In a separate civil case, the SEC claimed that the Fishers then started issuing false and misleading news releases touting AVL Global. One of the news releases said that the company could have a substantial contract to sell GPS tracking devices to the government of Botswana. The stock went to a $4.10 high on Dec. 16, 2004, and the Fishers sold thousands of shares, the SEC claimed. Mr. Offill denies any wrongdoing in that case, as do the Fishers.)

Virginia prosecutors identified eight other companies that Mr. Offill and Mr. Stocker allegedly followed the same pattern with. They are Emerging Holdings Inc., MassClick Inc., China Score Inc., Auction Mills Inc., Custom-Designed Compressor Systems Inc., Ecogate Inc., Media International Concepts Inc. and Vanquish Productions Inc.

Motion to change venue

Mr. Offill filed a motion to change the venue for the case on April 7, 2009. In it, he said that nearly all of the witnesses in the case, many of whom are in jail, would have to travel great distances to testify in Virginia, but most are close to Dallas. Mr. Offill also claimed that he would have to incur unbearable expenses travelling to Virginia and obtaining lodging for motion practice, discovery and trial. He cited an earlier restraining order in the case, which froze nearly all of his assets, including his 2001 Harley-Davidson motorcycle and his 1972 Porsche 911.

Mr. Offill also claimed that a trial in Virginia would disrupt or destroy his business, which is providing consulting and paralegal services to lawyers. (He is not allowed to work as a lawyer in Texas, because the state bar suspended him on March 13, 2008, for intending to destroy or conceal documents when he knew a former client was about to sue him. The SEC later suspended him from practising before the commission.)

Government response

Prosecutors filed their response to the motion for a transfer on April 14, 2009. In it, they said that the case had substantial connections to Virginia, in that one of the companies allegedly used in the scheme, Emerging Holdings, was based there. In addition, many spams touting the stocks were sent by AOL servers in Virginia and many of the scheme's victims were located there.

Prosecutors also claimed that the investigators who conducted interviews resided in Washington, D.C., and in Virginia. Moving the case would significantly inconvenience the government witnesses and increase the cost of travel, the reply stated. In addition, they said that several of Mr. Offill's co-conspirators were successfully prosecuted in Virginia. "This district has developed significant knowledge regarding this case," the response read. "Duplicating these efforts in Texas ... would waste limited judicial resources."

The case has not yet been scheduled for trial.







A fee has not been paid to Stockwatch to distribute this bulletin.
STOCKWATCH DOES NOT SELL OR DISCLOSE ITS MAILING LIST TO ANY THIRD PARTY.
You are subscribed to this mailing list because you registered at www.stockwatch.com
To unsubscribe, please go to