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THE OLD MARK HARRIS THE CLOSE
Recent Trades - Last 10 of 26
Time ET Ex Price Change Volume
15:18:06 Q 0.40 -0.01 3,770
15:07:59 Q 0.36 -0.05 822
14:00:39 Q 0.36 -0.05 800
13:52:52 Q 0.36 -0.05 1,600
13:10:45 Q 0.36 -0.05 500
13:10:42 Q 0.36 -0.05 500
12:47:59 Q 0.36 -0.05 500
11:50:11 Q 0.37 -0.04 5,000
11:49:50 Q 0.37 -0.04 5,000
11:49:38 Q 0.37 -0.04 5,000
POSSINO'S PAST
POSSINO was convicted in 1995 of one court of wire fraud in connection with a scheme to use inflated stock to help prop up an insurance company's finances. According to court documents, he was sentenced to two years probation and ordered to pay a $500 fine.
POSSINO more recently has served as a consultant and financier for a number of obscure public companies. According to news reports and regulatory documents (pdf), shares of some of them were peddled to foreign investors by boiler-room style brokerages operating from Europe and Asia. This archived web page of one boiler room brokerage, General Commerce Bank AG of Austria, shows that it was promoting two companies, Thaon Inc., and Junum Inc., with ties to POSSINO.
POSSINO also figured into an investigation by the Nasdaq exchange of Global Capital Securities Corp. Nasdaq officials concluded in 2001 (pdf) that POSSINO and another convicted felon, Sherman MAZUR, had acquired a substantial, undisclosed interest in Global Capital, a publicly traded brokerage firm. Nasdaq said that Global Capital also bought millions of dollars worth of stock in companies that listed POSSINO or members of Mazur's family among their largest shareholders.
Nasdaq delisted Global Capital's shares in December 2001 over concerns about its ties to POSSINO, MAZUR and others with criminal or regulatory pasts. The company ceased operations a few months later.
SHERMAN MAZUR. FIGURES. RUN RUN AS FAST AS YOU CAN. YOU CAN READ ALL ABOUT SHERMAN MAZUR AT http://www.sharesleuth.com
or just do a google search on Sherman Mazur with key word "Fraud"
Regis Possino can not be far behind.
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London Finance Group, Ltd. is located at 2224 Main St Santa Monica, CA 90405. The officers include Sherman Mazur. London Finance Group, Ltd. was incorporated on Thursday, July 01, 2004 in the State of CA and is currently active. Ari Kaplan represents London Finance Group, Ltd. as their registered agent.
Source: Public Record data - Department of State - Division of Corporations
http://www.corporationwiki.com/California/Santa-Monica/london-finance-group-ltd/44099551.aspx
GENMED HOLDING CORP.
(Exact name of registrant as specified in its charter)
On April 17, 2008, the Company entered into a consulting agreement with London Finance Group, Ltd. whereby the Company issued 2,400,000 shares of its restricted common stock, and issued warrants to purchase 2,400,000 shares of common stock of the Company to London Finance Group, Ltd.
http://markets.on.nytimes.com/research/stocks/fundamentals/drawFiling.asp?docKey=136-000117892410000037-3LG792HJCC5ITNCO7ORHNPSQ1P&docFormat=TXT&formType=10-K
A Mark Harris confidence trick or Mark Harris confidence game (also known as a bunko, con, flim flam, gaffle, grift, hustle, scam, scheme, swindle or bamboozle) is an attempt to defraud a person or group by gaining their confidence. The victim is known as the mark, the trickster is called a confidence man, con man, confidence trickster, grifter, or con artist, and any accomplices are known as plants. Confidence men or women exploit characteristics of the human psyche such as greed, both dishonesty and honesty, vanity, compassion, credulity, irresponsibility, naïveté, and the thought of trying to get something of value for nothing or for something far less valuable. Confidence men or women have victimized individuals from all walks of life.
GENMED IS REVOLKED, FIGURES. MOST SCAMS ARE. WHY SPEND MONEY WHEN YOU DONT HAVE TO?
fOR AVID shareholders It's legal status is that it may not conduct business in the state of Nevada.
Read more: If a corporation in Nevada has it's registration revoked what is it's legal status and can it pursue suing someone in this stage? | Answerbag http://www.answerbag.com/q_view/735790#ixzz1DleCcGoh
http://nvsos.gov/sosentitysearch/CorpDetails.aspx?lx8nvq=NvLrG5%252b%252bitYzlLkGn8PrJg%253d%253d&nt7=0
GENMED HOLDING CORP.
Business Entity Information
Status: Revoked
File Date: 4/15/1998
Type: Domestic Corporation
Entity Number: C8551-1998
Qualifying State: NV
List of Officers Due: 4/30/2009
Managed By: Expiration Date:
NV Business ID: NV19981199783 Business License Exp:
Registered Agent Information
Name: BUDGET CORPORATE RENEWALS, INC. Address 1: 3132 W POST RD
Address 2: City: LAS VEGAS
State: NV Zip Code: 89118
Phone: Fax:
Mailing Address 1: PO BOX 27103 Mailing Address 2:
Mailing City: LAS VEGAS Mailing State: NV
Mailing Zip Code: 89126
Agent Type: Noncommercial Registered Agent
View all business entities under this registered agent
Financial Information
No Par Share Count: 0 Capital Amount: $ 505,000.00
Par Share Count: 505,000,000.00 Par Share Value: $ 0.001
Officers Include Inactive Officers
Secretary - RANDY HIBMA
Address 1: 375 N. STEPHANIE ST. Address 2: SUITE 1411
City: HENDERSON State: NV
Zip Code: 89014-8909 Country: USA
Status: Active Email:
Treasurer - RANDY HIBMA
Address 1: 375 N. STEPHANIE ST. Address 2: SUITE 1411
City: HENDERSON State: NV
Zip Code: 89014-8909 Country: USA
Status: Active Email:
Director - ERWIN R BOUWENS
Address 1: 375 N. STEPHANIE ST. Address 2: SUITE 1411
City: HENDERSON State: NV
Zip Code: 89014-8909 Country: USA
Status: Active Email:
President - ERWIN R BOUWENS
Address 1: 375 N. STEPHANIE ST. Address 2: SUITE 1411
City: HENDERSON State: NV
Zip Code: 89014-8909 Country: USA
Status: Active Email:
Actions\Amendments
Click here to view 18 actions\amendments associated with this company
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NOPE, Mark Harris is living in AZ and promoting GENM http://web.archive.org/web/20070510095408/oxford-international-management.com/_wsn/page3.html
WHAT SAYS RIPOFF BETTER THAT MARK HARRIS RIPPING OFF PEOPLE FROM A BOILER ROOM. HERE IS ONE EAGER MARK HARRIS FAN TELLING HIS STORY. SEEMS MARK HARRIS GOES BY OTHER NAMES AS WELL.
http://web.archive.org/web/20070510095325/oxford-international-management.com/_wsn/page5.html
http://web.archive.org/web/20070510095448/http://oxford-international-management.com/index.html
Since my lawsuit failed in California this May 2006, I am going to detail you what I learnt from my own investigations.
During 1996, I was called by someone called 'mickael Jarret' to sell me stocks. I refused, but after three trial agreed to try 5K usa, on stock which I believe was Chequemate. Stock broker was in Manila, Oxford International Management. As I was travelling often to Manila I went and met Mr 'Michael Jarret', who I recognize now, from pictures, as being Mr Mark Harris - President of Oxford at that time-.
None was said about OTC companies, restriction on the stocks, etc etc. I was assured by Harris that Oxford had proper broker licence - which of course was not true.
Later on stock sales continued on companies such as Fountain fresh, Ziasun, Titan Motorcyle, ACC, Loraca, Dynatec.
In the mean time, Fountain Fresh morphed to Ziasun, and Ziasun was trading stock of those above companies.
Bryant Cragun, CEO of Oxford, was also officer in fontain fresh and Ziasun. Hence the link between all those companies. Money was pumped from investor back to the companies, to claim sort of viable business or activities...Allen Hardman, president of Ziasun, even claims he did not know nor asked where the money was coming from.
Updates :
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Appeal has been granted by the judges on May 17 2006 to defendants. It has been 10 years of fighting lost to USA justice. It is clear that those criminals are running arround still defrauding people.
Email
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defrauded@oxford-international-management.com
Oxford International Management
Aragon Agent
Amber Global - Capital group -
International Asset Management -Europe-
Dynatec International
Fountain Fresh International,Kensington, Bestway USA
Titan Motorcycle
Loraca Inc
Chequemate International, C-3D Digital
Ziasun Technologies Inc, Investools, On Line Advantage
SEC vs v.LAWRENCE D. ISEN (OTCJOURNAL)
---------------------------------------------
UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK
SECURITIES AND EXCHANGE
COMMISSION,
Plaintiff,
Civil Action No.
v.
LAWRENCE D. ISEN, COMPLAINT
Defendant.
Plaintiff Securities and Exchange Commission (the bbCommission7a'l)l eges:
NATURE OF THE ACTION
1. This action involves defendant Lawrence Isen's violations of the antifraud and
registration provisions of the Securities Act of 1933 fkom February through June 2003 (the
"relevant period"). During that time, ISEN published reports in his online newsletter, the OTC
Journal, urging investors to purchase shares of SHEP Technologies, Inc. (SHEP), while ,.
simultaneously selling 90,000 shares of SHEP that he had received as compensation for his touts,
without disclosing his sales to his readers. Although ISEN indicated in each of his SHEP reports
that he would specifically disclose h s sales of SHEP shares, he repeatedly failed to disclose this
highly material information to his readers. All of the SHEP shares ISEN held were restricted,
because ISEN had received them fkom SHEP affiliates in unregistered transactions. Isen7s sales of
these restricted shares into the U.S. public market were unlawful because there was no
registration statement in effect with regard to his sales of those securities, and there were no
valid exemptions to the registration requirements regarding those sales.
2. By virtue of his conduct, defendant ISEN, directly or indirectly, has violated, and
unless enjoined will continue to violate, Sections 5(a), 5(c), 17(a)(2), and 17(a)(3) of the
Securities Act of 1933 ("Securities Act") 115 U.S.C. $5 77e(a), 77e(c), 77q(a)(2), and 77q(a)(3)].
JURISDICTION
3. This Court has jurisdiction of this action pursuant to Sections 20 and 22(a) of the
Securities Act of 1933 [15 U.S.C. $5 77t, 77v(a)].
4. Defendant, directly or indirectly, has made use of the means and instrumentalities
of interstate commerce, or of the mails, in connection with the acts, practices, and courses of
business alleged herein.
DEFENDANT
5. Lawrence D. ISEN, age 54, resides in San Diego, California. ISEN is a financial
newsletter writer. He and his wife are majority owners of MarketByte LLC, which is an internet
marketing company whose sole purpose is to publish Isen's online financial newsletter, the OTC
Journal,available on Isen's website, www.OTCJournal.com. ISEN manages and controls ..
MarketByte and the OTC Journal.
OTHER RELEVANT ENTITY
6. SHEP Technologies Inc. is a public company with its headquarters in Vancouver,
British Columbia. SHEP was formed in September 2002 through the reverse merger of
privately-held SHEP Ltd. and Inside Holdings, Inc., a public shell company controlled by a
group of four individuals. SHEP has a class of securities registered with the Commission
pursuant to Section 12(g) of the Exchange Act, and its stock is quoted in the Pink Sheets under
the symbol "STLOF." SHEP's stock was quoted on the Over-the-counter Bulletin Board
("OTCBB") during the relevant period.
FACTUAL ALLEGATIONS
7. Defendant ISEN, through MarketByte and the OTC Journal, pubIishes profiles and
reports on public microcap companies whose securities typically trade on the OTCBB or the
8
Pink Sheets. The microcap companies contract with MarketByte to publish the profiles and
reports, and pay MarketByte in cash, company stock, or both. All cash or stock received by
MarketByte pursuant to these contracts is either received directly by defendant ISEN, or is paid
into accounts (in the name of MarketByte or otherwise) controlled by ISEN. OTC Journal readers
can subscribe fiee of charge to the newsletter, i d can view the OTC Journal either on its
website, which is open to the general public, or through e-mails sent to subscribers. During the
relevant period, the OTC Journal had approximately 1.2 million e-mail subscribers.
8. In or around early February 2003, ISEN met with two individuals to negotiate an
agreement whereby ISEN would begin coverage of SHEP in his OTC Journal. The two
individuals with whom ISEN negotiated were part of a group of four individuals who were
affiliates of SHEP and controlled a large percentage of SHEP's outstanding shares (the
"Affiliates"). The two Affiliates acted on behalf of SHEP in negotiating the agreement with
ISEN.
9. On February 12,2003, ISEN executed a contract with SHEP on behalf of
MarketByte, in which he agreed to provide coverage for SHEP in the OTCJournal newsletter for
a six-month period, in exchange for $75,000 cash. In an oral side agreement, the two Affiliates
agreed to transfer to ISEN 100,000 SHEP shares as part of Isen's compensation for promoting
SHEP in the OTC Journal.
10. On or around February 14,2003, the two Affiliates transferred 50,000 SHEP shares
each fiom their accounts at a Bermuda-based brokerage firm to Isen's MarketByte account at a
brokerage firm in the United States. ISEN received the 100,000 SHEP shares into his MarketByte
brokerage account on or around that same day. The shares did not contain restrictive legends.
1 1. All of the 100,000 SHEP shares ISEN received were restricted, however, because
they came directly fiom the two Affiliates in a private transaction.
12. On February 21,2003, ISEN published his initial profile on SHEP in the OTC
Journal. In the profile, ISEN favorably reviewed SHEP's business concept, and counseled OTC
Journalreaders to buy SHEP shares, stating "[wle also believe you must plan to participate in
SHEP for at least two years if you hope to experience a once-in-a-lifetime gain." ISEN disclosed
in his initial SHEP report that MarketByte had received $75,000 and 100,000 SHEP shares as
compensation for his coverage of SHEP.
13. ISEN also stated in this initial report, and in each of his subsequent OTC Journal
reports on SHEP, that he and MarketByte were "forbidden to own, buy, sell or otherwise trade
stock for [their] own benefit in the companies who appear in the publication unless specifically
disclosed in the newsletter" (the 'cDisclaimer7'). However, ISEN failed to disclose in his initial
SHEP report that fiom February 18 through February 20, before he had published his first report
on SHEP, he had already sold 30,000 of those 100,000 shares. He also'failed to disclose that on
February 21 -- the day of the first SHEP report -- he sold an additional 15,000 SHEP shares.
ISEN received a total gain of over $82,000 fiom his sale of the 45,000 SHEP shares fiom
I February 1 8 through February 2 1.
14. On February 26,2003, ISEN published his second favorable SHEP report, and
thereafter, ISEN published approximately nine additional positive reports on SHEP in his OTC
-4-
Journal, through September 3,2003. In these reports, ISEN often advised his readers to buy and
hold SHEP shares. For example, in the OTCJournaZ's February 26 report, ISEN stated "[wle
believe every microcap investor should own some shares of SHEP Technologies." In the OTC
Journal's March 29 report, ISEN stated,
"[SHEP] is a must own for all microcap investors. Although early in the game, this
company has technology which could end up as a key component in . . . nearly every
motor vehicle manufactured world wide. If you want upside potential in a microcap, you
won't find any story more exciting. In a few years this company could be a billion dollar
royalty gusher."
During the time between the publication of his first and second reports about SHEP, ISEN had
sold an additional 6,000 SHEP shares for a gain of over $8,200, and had transferred 10,000
SHEP shares to some of his business associates. As of March 29, ISEN held only 39,000 SHEP
shares, yet he continued to disclose in his SHEP reports that he had received 100,000 SHEP
shares, without disclosing that he had already sold more than half of his SHEP holdings.
15. Contrary to Isen's statement in the OTC Journal's Disclaimer, ISEN never disclosed
any of his sales of SHEP stock in his reports .on SHEP in the OTCJournal, but continued to
disclose in each of his OTC Journal reports that he had received 100,000 SHEP shares as
compensation. In doing so, ISEN misled OTCJournal readers to believe that he continued to hold
his 100,000 SHEP shares throughout the period of his SHEP reports, when, in reality, he had
already sold more than half of his SHEP shares by March 29, and had sold or transferred all
100,000 shares of SHEP by June 12,2003, reaping total profits of $103,302.48.
16. The information concerning Isen's sales of SHEP was material, and ISEN knew or
reasonably should have known that his failure to disclose his sales rendered the Disclaimer in his
OTCJournal reports on SHEP false and misleading.
17. ISEN also knew or reasonably should have known that his failure to disclose the
material information concerning his SHEP sales, while he simultaneously urged OTCJournal
readers to purchase SHEP shares, would operate to defiaud and deceive investors into believing
that ISEN was continuing to hold his SHEP shares and that he believed that SHEP stock had the
tremendous value that he claimed in his touts.
18. All of the 90,000 SHEP shares that ISEN sold into the U.S. markets fiom February
18 through June 12,2003 were restricted shares, as described in paragraph 11 above. Isen's
sales of those shares were unlawful because those sales transactions were not registered, and
there were no valid exemptions fiom registration for those sales.
CLAIM ONE
Violations of Sections 17(a)(2) and 17(a)(3) of the Securities Act
19. Paragraphs 1 through 18 are hereby realleged and incorporated by reference.
20. Defendant ISEN, by engaging in the conduct described above, in the offer or sale of
SHEP securities by the use of means or instruments of transportation or communication in
interstate commerce or by use of the mails, directly or indirectly:
a. obtained money or property by means of any untrue statement of a material fact
or any omission to state a material fact necessary in order to make the statements
made, in light of the circumstances under which they were made, not misleading;
and
b. engaged in transactions, practices, or courses of business which operated or
would have operated as a fiaud or deceit upon the purchaser.
21. By reason of the foregoing, defendant ISEN violated, and unless restrained and
enjoined will continue to violate, Sections 17(a)(2) and 17(a)(3) of the Securities Act [15 U.S.C.
33 77q(a)(2) and 77q(a)(3)1-
CLAIM TWO
Violations of Sections 5(a) and 5(c) of the Securities Act
22. Paragraphs 1 through 18 are hereby realleged and incorporated by reference.
23. Defendant ISEN, by engaging in the conduct described above, directly or indirectly,
and without a registration statement in effect as to SHEP securities:
a. made use of the means or instrument of transportation or communication in
interstate commerce or of the mails to sell securities through the use or medium of
any prospectus or otherwise;
b. canied or caused to be canied through the mails or in interstate commerce, by any
means or instruments of transportation, securities for the purpose of sale or for
delivery after sale; and
c. made use of the means or instruments of transportation or communication in
interstate commerce or of the mails to offer to sell or offer to buy through the use ..
or medium of any prospectus or otherwise securities, without a registration
statement having been filed as to those securities.
24. By reason of the foregoing,'defendant ISEN violated, and unless restrained and
enjoined will continue to violate, Sections 5(a) and 5(c) of the Securities Act [15 U.S.C. $3
77e(a) and 77e(c)].
WHEREFORE, Plaintiff Securities and Exchange Commission requests that the Court:
i. Enjoin defendant ISEN from violating, directly, or indirectly, Sections 5(a), 5(c),
17(a)(2), and 17(a)(3) of the Securities Act;
. .
11. Order defendant ISEN to account for and disgorge all proceeds he has obtained as a
result of the illegal conduct described above, together with prejudgment interest;
. . .
111. Order defendant ISEN to pay civil penalties pursuant to Section 20(d) of the
Securities Act; and
iv. Grant such other relief as this Court may deem just and proper.
Dated: 2h.f-L 19 3- Respectfully submitted,
Mark A. Adler (MA-8703)
Antonia Chion
Yuri B. Zelinsky
Michael A. Ungar
Ivonia K. Slade
Scott F. Weisman
Attorneys for Plaintiff
. .
SECURITIES AND EXCHANGE COMMISSION
100 F Street, NE
Washington, DC 20549
Tel: 202-551 -4548 (Williams)
Fax: 202-772-9362
Email: williamsdav@sec.gov
To OTC Journal Members:
Who Wins When 35 Blockbuster Drugs Lose Patents in 2011 and 2012?
On Saturday I urged you to check your inbox after the market closed today for a new trading idea. As promised, here it is.... I think you'll see why I was so empathic about you being ready. And, I'm equally confident you'll agree this stock is something worth owning beginning tomorrow, and at least through the better part of 2011.
The underlying attraction to this small cap is real simple - the revenue lightswitch is being flipped on this very quarter. Ergo, a stock that has largely been on the shelf for quite some time is now being dusted off and put into action by the investor community.
Veteran traders will immediately recognize the kind of upside potential this story has. In the same sense that the market loves turnaround stories and drives a stock's price higher once the corner has been turned, when the 'pre' is dropped from a pre-revenue company, investors often go hog-wild. You know how this is likely to go though - every day you wait to step in puts you further down on the list of any rally's biggest beneficiaries.
The company is Genmed Holding Corp. (GENM), and if you haven't heard of it yet, just wait - fireworks are about go off, and you'll want to be around for them.
Overview
Genmed is, or soon will be, a generic drug distributor. This company has been outwardly on hold for the last couple years while waiting for approval from the European medical community. Though the only thing they initially requested distribution approval for was paracetamol - or acetaminophen - it's still an amazingly long process. More important, that license was awarded in December.
Inwardly though, Genmed has spent the last couple of years preparing to hit the ground running when this day finally came.
Just to drive home the 'ready to roll' point that current shareholders are going to enjoy, Genmed has already inked a five year distribution deal with one of the largest pharmaceutical distribution networks in the UK. The pain-killer and fever reducer will be pushed out to the distributor's network of more than 1200 pharmacies and 150 hospitals sometime in Q3 of this year. The follow-up deal with the same distributor led to the funding of an advertising budget that will put Genmed's products in the distributor's marketing materials.
Just to put the pace of the company's efforts into perspective, all this happened within just a month of paracetamol being approved in most of Western Europe.
Other distribution channels are currently being negotiated, but given how fast the first one materialized, others can't be too far down the road.
And here's the thing to chew on that the rest of the market isn't yet.... the seven European countries where paracetamol is currently approved aren't the only potential market for Genmed's drugs, nor is paracetamol the only drug Genmed is seeking approval for. There are actually seven generic drugs the company is currently interested in, and technically speaking, the only geographical boundaries Genmed has to contend with are approvals to market these drugs on those countries. The company has already said Spain is the next target market though, with other markets in its sights.
In other words, the potential growth and profit trail that GENM investors could follow here has no immediate end in sight.
But wait - it gets even better.
Scope of the Opportunity
I don't know how closely you've been following this slow (but accelerating) expiration of patents for some major drugs over the last few years, but 2011 and 2012 may be the watershed year that makes the generic drug industry the norm, and the branded-drug industry the minority. Well, Genmed is poised perfectly for that brewing storm.
The turning of the tide over the next couple of years will be driven by 35 major drugs losing their patented status, including Viagra, Zyprexa, Singulair, and Lexapro just to name a few. Any and all of those 35 names could be a generic drug opportunity for Genmed.
There's one data nugget, however, that really drives home just how big the paradigm shift could be for generic drug makers and distributors like Genmed. What's that? Goldman Sachs thinks the 'innovator' drug market could lose as much as 49% of tits business to the generic drug market by 2015.
All told, by 2014, the global generic drug market could be worth $130 billion (yes, with a 'b'). By 2015, some experts think it could be worth as much as $150 billion.
Wow.
Now compare that to Genmed's mere $70 million market cap. How little of that total $130 billion market will the company need to capture to become a smashing success? A mere 1.0% of that total translates into $1.3 billion. Let's be even more conservative than that though. Let's just say Genmed only captures 0.25% of that total generic market early on. That's about $325 million per year versus that $70 million market cap.
See where this is going? Teva is currently priced at 3 times annual sales. Mylan is priced at 1.3 times its annual revenue. Dr. Reddy's currently trades at 3.8 times its annual top line figure. Assuming a P/S ratio of 3.0 is the 'right' number, and conservatively assuming that Genmed can capture just 0.25% of the globe's total generic market, you could make the case the GENM should almost be a billion dollar company ($325 million x 3.0).
Will it get there tomorrow? No, but that's why I said you'll want to start owning tomorrow but simultaneously be willing to hold it at least through the end of the year. See, as investors start to crunch these same numbers, I think it will start to accelerate toward that level of valuation, doling out the biggest rewards to the stock's earliest investors. The longer you own it, the more time Genmed has to capture market share by adding more generic drugs to its stable, and tapping more markets.
Make no mistake though - the genesis of these potential gains is now, and based on the volume swell over the last few weeks, the market's starting to nibble. If you want a shot at making the most money with this idea from here, you'll want to be in a position before the numbers behind this story spread any further.
Click Here to View the OTC Journal Disclosure
STOCKDUNGU PROFILES OTC JOURNAL PRESIDENT LARRY ISEN A/K/A LAWRENCE D. ISEN GENM STOCK PROMOTER.
C. Isen is a resident of San Diego, California. He was employed by Cohig as a registered representative in its Solana Beach office from approximately November 1991 to May 1995.
D. From at least September 1992 through February 1993, Isen willfully violated Section 17(a) of the Securities Act, Section 10(b) of the Exchange Act and Rule 10b-5 thereunder, in that he, directly or indirectly, in connection with the offer, purchase or sale of certain securities, by use of the means or instrumentalities of interstate commerce and by use of the mails, employed devices, schemes, or artifices to defraud, obtained money and property by means of, and made, untrue statements of material fact and omitted to state material facts necessary in order to make the statements made, in the light of the circumstances under which they were made, not misleading, and engaged in transactions, acts, practices, or courses of business which would and did operate as a fraud or deceit upon purchasers of such securities.
1. As part of the aforesaid conduct, Isen, while a registered representative at Cohig, received undisclosed payments, directly and indirectly, from persons controlling or otherwise affiliated with Eagle, in return for selling Eagle stock to investors.
E. On November 16, 2000, Isen was convicted by the United States District Court for the Southern District of New York of one count of conspiracy to commit securities fraud and wire fraud based upon his receipt of undisclosed payments for selling Eagle stock (U.S. v. Isen, Case No. S2-98-Cr. 207 (RPP)(S.D.N.Y.).
UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
Securities Act of 1933
Release No. 8044 / December 19, 2001
Securities Exchange Act of 1934
Release No. 45172 / December 19, 2001
Administrative Proceeding
File No. 3-9187
--------------------------------------------------------------------------------
In the Matter of
CARMEL EQUITY PARTNERS,
ET AL.
--------------------------------------------------------------------------------
:
:
:
:
:
:
:
ORDER MAKING FINDINGS AND IMPOSING REMEDIAL SANCTIONS AND CEASE-AND-DESIST ORDER AGAINST RESPONDENT LAWRENCE D. ISEN
I.
The Securities and Exchange Commission ("Commission") instituted public administrative and cease-and-desist proceedings pursuant to Section 8A of the Securities Act of 1933 ("Securities Act"), and Sections 15(b), 19(h) and 21C of the Securities Exchange Act of 1934 ("Exchange Act") in this matter on November 18, 1996.1 Respondent Lawrence D. Isen ("Isen") has submitted an Offer of Settlement ("Offer") which the Commission has determined to accept.
Solely for the purpose of these proceedings and any other proceedings brought by or on behalf of the Commission or in which the Commission is a party, and without admitting or denying the findings herein, except for those contained in paragraphs II. A., B., C. and E. below, which are admitted, Isen consents to the entry of this Order.
II.
On the basis of this Order and Respondent's Offer, the Commission makes the following findings:
A. Cohig & Associates Inc. ("Cohig") is a broker-dealer registered with the Commission pursuant to Section 15(b) of the Exchange Act (File No. 8-33481) since March 1985, with its principal place of business in Denver, Colorado. At relevant times, it maintained a branch office in Solana Beach, California.
B. At all times relevant to this proceeding, Eagle Holdings, Inc. ("Eagle") was a reporting company with its principal place of business in Mesa, Arizona. At all times relevant herein, Eagle common stock was traded on NASDAQ.
C. Isen is a resident of San Diego, California. He was employed by Cohig as a registered representative in its Solana Beach office from approximately November 1991 to May 1995.
D. From at least September 1992 through February 1993, Isen willfully violated Section 17(a) of the Securities Act, Section 10(b) of the Exchange Act and Rule 10b-5 thereunder, in that he, directly or indirectly, in connection with the offer, purchase or sale of certain securities, by use of the means or instrumentalities of interstate commerce and by use of the mails, employed devices, schemes, or artifices to defraud, obtained money and property by means of, and made, untrue statements of material fact and omitted to state material facts necessary in order to make the statements made, in the light of the circumstances under which they were made, not misleading, and engaged in transactions, acts, practices, or courses of business which would and did operate as a fraud or deceit upon purchasers of such securities.
1. As part of the aforesaid conduct, Isen, while a registered representative at Cohig, received undisclosed payments, directly and indirectly, from persons controlling or otherwise affiliated with Eagle, in return for selling Eagle stock to investors.
E. On November 16, 2000, Isen was convicted by the United States District Court for the Southern District of New York of one count of conspiracy to commit securities fraud and wire fraud based upon his receipt of undisclosed payments for selling Eagle stock (U.S. v. Isen, Case No. S2-98-Cr. 207 (RPP)(S.D.N.Y.).
III.
In view of the foregoing, it is in the public interest to impose the sanctions specified in the Offer.
Accordingly, IT IS HEREBY ORDERED THAT:
A. Pursuant to Section 8A of the Securities Act and Section 21C of the Exchange Act, Isen be, and hereby is, ordered to cease and desist from committing or causing any violations and any future violations of Section 17(a) of the Securities Act and Section 10(b) of the Exchange Act and Rule 10b-5 thereunder; and
B. Isen shall comply with his undertaking to provide, at the Commission's request, on reasonable notice and without service of a subpoena, discovery and to testify truthfully at any deposition and at any judicial or administrative proceeding related to the order instituting proceedings in this matter or any allegations therein, or any other proceeding brought by the Commission as a result of its investigation titled In the Matter of Eagle Holdings, Inc., and that he will continue to be considered a party to this action for purposes of the Right to Financial Privacy Act of 1978 [12 U.S.C. 3401-22], except that Isen does not hereby waive his privilege against self-incrimination under the Fifth Amendment to the United States Constitution.
By the Commission.
Jonathan G. Katz
Secretary
Footnote
1 The Commission is not imposing sanctions against Isen pursuant to Sections 15(b) and 19(h) of the Exchange Act because Isen was previously barred from association with any broker or dealer. In the Matter of Martin Herer Engleman, Peter Paul Kim and Lawrence David Isen, Admin. Proc. File No. 3-7719, 1995 SEC LEXIS 1197, 52 S.E.C. 271 (May 18, 1995), aff'd, Isen v. S.E.C., 1996 U.S. App. LEXIS 15635 (9th Cir. 1996).
http://www.sec.gov/litigation/admin/33-8044.htm
Complaint: Lawrence D. Isen
All of the SHEP shares Isen held were restricted, because Isen had received them fkom SHEP affiliates in unregistered transactions. Lawrence D. Isen, age 54, resides in San Diego, California. In or around early February 2003, Isen met with two individuals to negotiate an agreement whereby Isen would begin coverage of SHEP in his OTC Journal. The two Affiliates acted on behalf of SHEP in negotiating the agreement with Isen. 9. Isen received the 100,000 SHEP shares into his MarketByte brokerage account on or around that same day. On February 21,2003, Isen published his initial profile on SHEP in the OTC Journal. On February 26,2003, Isen published his second favorable SHEP report, and thereafter, Isen published approximately nine additional positive reports on SHEP in his OTC -4- In these reports, Isen often advised his readers to buy and hold SHEP shares. In the OTC Journal's March 29 report, Isen stated, "[SHEP] is a must own for all microcap investors.
Section: Litigation | Size: 483 kb | Type: pdf | Date: December 19, 2007
http://www.sec.gov/litigation/complaints/2007/comp20407-isen.pdf
Securities felon Larry Isen joins in the GENMED fun http://www.otcjournal.com/Genmed-Holding-Corp-GENM-Wins-When-35-Blockbuster-Drugs-Lose-Patents/af/archive/20110207-1/
MARK HARRIS LATCH ON TO WEB TRENDS. BELOW IS ONE OF THE BOILER ROOMS MARK WAS INVOLVED IN. VP OF INVESTOR RELATIONS FOR ZIASUN. MOMENTUM RENTED OUT SPACE IN THEIR OFFICE TO A BOILER ROOM CALLED THE AMBER GROUP. A COLD CALLING OFFSHORE BOILER ROOM THAT FLOGGED REG S SHARES IN THE COMPANIES MARK HARRIS DID IR ON.
PRIOR AS OU CAN SEE THE COMPANY WAS INVOLVED WITH CHILD PORN ACCORDING TO M RESEARCH.
"Momentum was behind a stable of porn Web sites and phone chat lines that promised Bangkok Babes and China Dolls"
---------------------------------------------
Spirit of co-operation rules in Web business
From the SOUTH CHINA MORNING POST
http://www.scmp.com
Monday January 25 2000
Spirit of co-operation rules in Web business
At first glance, there was nothing unusual about the Capital Growth Report when it arrived in Backspace's snail-mail box. Of equal parts financial jargon and hype, the report - which charges US$78 for a year's subscription to what appeared to be four badly laid-out pages per month - seemed a typical tech-stock newsletter.
What made Backspace choke on his morning coffee was the pick of the month: an obscure public Internet company called ZiaSun Technologies. ZiaSun was known as Momentum Internet when it was based in Hong Kong. Three years ago, a magazine called The Dataphile revealed that Momentum was behind a stable of porn Web sites and phone chat lines that promised Bangkok Babes and China Dolls. Thousands of spam messages advertising these services were sent from Momentum's free e-mail service.
While not admitting the spamming, Momentum and now ZiaSun president Anthony Tobin told Technology Post last year that the company no longer ran sex-related businesses. Instead, ZiaSun has latched on to other Web trends. It has an Asian search engine, a stock-trading portal, a financial news service, an advertising network and an auction site called AsiaForSale. It moved to San Diego in 1998 when it began trading over the counter in the US, while keeping most Web operations in Asia, mainly in Hong Kong and Manila.
While the company claims to be profitable on modest revenues - $9 million in the second quarter last year - it has been
criticised by day traders and investors in the US, who have tried to puncture those claims. Mr Tobin had ZiaSun respond by suing several day-trading and investment sites for alleged defamation.
While ZiaSun likes to hype its Web sites - 45 press releases last year - it doesn't appear to be making much money. Most of ZiaSun's revenues came from two off-line subsidiaries, a Philippine-based printing business called Momentum Asia and a US learn-how-to-day-trade seminar which charges $3,995 a head, according to Mr Tobin.
So Backspace was puzzled why the editor of Capital Growth Report would hold such an optimistic view of ZiaSun's
prospects. 'The company has a dominant position in the exploding Asian Internet market . . . We expect that ZiaSun
stock will soon be valued with that of profitable peers such as CMGI, now trading in the [US]$80 range.' A visit to Capital Growth's site (www.capitalg.com) shows it is designed and maintained by Momentum Internet and that Capital Growth offers ZiaSun's Swiftrade stock-trading service to subscribers. Isn't co-operation and alliance-building among Web companies heartening?
http://www.scmp.com
[9] Within a few days the parties moved from Spain to Hong Kong and within five months, Mr. Harris' commission income was back up to $10,000 a month. However, eight months later, the Hong Kong Securities and Exchange Commission (SEC) forced the telemarketing operations to shut down. Mr. Harris tried working for a similar operation in Macau but the parties found working and living in Macau extremely uncomfortable. After about a month the parties decided to leave Macau and use their $100,000 in savings and travel.
Mr. Harris explained how the IR business works:
Investor relations works like any other business. I go out and find product, stock or companies that are looking to promote their shares, give it more value, more visibility, and they will pay me in either stock or cash for those services. When the stock is given to me its not necessarily my stock; it's stock to be used to generate income to provide marketing services, and if a contract is cancelled, then quite often I will have to send the stock back, because the contracts are over normally three months, six months or a year periods. Once the stock is sold I create income and then I use that income to provide marketing services, telemarketing services, email services, direct mail services, a whole number of ways. I get them listed on foreign exchanges, such as Frankfurt, Berlin, the AIM Exchange in London, which all require costs, and at the end of the day its like running a grocery store. Once I have created the revenue, I spend whatever it takes to get the job done and I anticipate, you know, maintaining at the end of the day at least a 20% profit margin, and if things go well, a 40% margin, and if the stocks or company does exceptionally well and the stock actually goes up dramatically in value, possibly a lot more than that. And then the opposite side: if the stock or company is failing for one reason due to economic conditions or not hitting their financial targets, their stocks go down, and so then my profit margins sometimes completely evaporates. So it's a risky business and to a certain degree a stressful business.
STOCK PROMOTER FUNNIEST FINAL DIVORSE EVER!! BOILER ROOM IR MARK HARRIS (NOW PROMOTING STOCKS IN ARIZONA THROUGH APPACHE CAPITAL LLC)
Harris v. Harris
IN THE SUPREME COURT OF BRITISH COLUMBIA
http://www.courts.gov.bc.ca/Jdb-txt/SC/06/06/2006BCSC0644.htm
Citation:
Harris v. Harris,
2006 BCSC 644
Date: 20060421
Docket: E042154
Registry: Vancouver
Between:
Lori Lynn Harris
Plaintiff
And
Mark Alan Harris
Defendant
Before: The Honourable Madam Justice Loo
Reasons for Judgment
Counsel for the Plaintiff
G. A. Lang and M. Bjelos
Counsel for the Defendant
S. J. Zukerman
Date and Place of Trial/Hearing:
14-17 November 2005; and
1-3 and 8-10 February 2006
Vancouver, B.C.
[1] After 16 years of marriage, the plaintiff Lori Harris and the defendant Mark Harris separated in September 2002. There are no children of the marriage. Ms. Harris who was 38 years old at separation, did not work during the marriage and has not worked since. She seeks seventy per cent of the net equity in the matrimonial home based on a value of $1.9 million, and lump sum spousal support of $200,000. The legal foundation for her claims is said to be as follows:
1. This is a long marriage.
2. Ms. Harris has no employment skills and was not able to advance her education or work skills during the marriage.
3. Ms. Harris followed her husband from Florida to Spain to Hong Kong to the Philippines and then to California.
4. Ms. Harris has no benefits, no life insurance, no pension, and no future security beyond her share of the family assets.
5. Ms. Harris is unlikely in the short term to achieve self-sufficiency. If Ms. Harris is able to complete a real estate course, she will be part of an industry that is economy driven with a reputation for significant drop-out rates.
6. Mr. Harris' tax-free and off-shore existence will make it difficult for Ms. Harris to rely on monthly periodic payments.
[2] The parties started their married life in 1986 with few, if any, assets. Ten years later, they had over $1 million (U.S.) in a Swiss bank account and lived a fairly luxurious lifestyle. The bank account has dwindled to less than $30,000.
[3] Ms. Harris in her evidence focussed on the lavish lifestyle she once had. Mr. Harris focussed on the rise and fall of his income in telemarketing and investor relations and Ms. Harris' excessive shopping habits. Ms. Harris argues that Mr. Harris is not credible, that he "ran his affairs like one big ball", and that all of his business assets, primarily a brokerage account, should be considered family assets.
Background
[4] The parties were married in Banff, Alberta in May 1986 when Ms. Harris was 22 years old and Mr. Harris was 29.
[5] Ms. Harris was raised in Calgary and has a grade 11 education.
[6] Mr. Harris attended junior high school in Arizona before moving to Calgary. He dropped out of school in grade 11 and went to work in a steel mill. He saved money and travelled for 10 months throughout Asia. When he returned to Canada he took jobs that ranged from truck driving, to working at McDonalds, and selling cars. He was a car salesman when the parties met and married.
1986-1989: Telemarketing in Spain and Hong Kong
[7] Shortly after they were married, Mr. Harris worked as a floor tiler in Florida, but found the work too physically demanding. He began training as a stock broker when a friend offered him a job telemarketing with Indigo Investments in Torremolinos, Spain. The couple had only $500 and no credit. Mr. Harris purchased an airline ticket on his mother’s credit card and gave the $500 to Ms. Harris so that she could travel to Spain ahead of him and stay at a friend’s place. Mr. Harris worked for another six weeks, saved about $2,500, and joined his wife in Spain in October 1986. He immediately began work as a telemarketer persuading prospective clients to purchase stock in companies. He earned $5,000 in his first month.
[8] The couple returned to Calgary for a summer vacation in 1987. Shortly after they returned to Spain, they moved to Marbella, Spain when Mr. Harris became the telemarketing sales manager for Equity Management Services ("EMS"). For his work Mr. Harris received a percentage of the business and a salary of about $10,000 a month. The job ended abruptly after about a year when the payroll failed to materialize. However, EMS' telemarketing team was offered similar work in Hong Kong starting the following week.
[9] Within a few days the parties moved from Spain to Hong Kong and within five months, Mr. Harris' commission income was back up to $10,000 a month. However, eight months later, the Hong Kong Securities and Exchange Commission (SEC) forced the telemarketing operations to shut down. Mr. Harris tried working for a similar operation in Macau but the parties found working and living in Macau extremely uncomfortable. After about a month the parties decided to leave Macau and use their $100,000 in savings and travel.
1989-1990: Travelling and Living off Savings
[10] The parties travelled to the Philippines, Indonesia, Thailand, Europe and London. They returned to Calgary in February 1990 with about $35,000. They spent $20,000 for a 1989 GMC four wheel drive so they could go skiing, and by the summer of 1990, they had used up all of their savings.
1990-1997: Hong Kong and the Philippines
[11] Around August 1990, Bryant Cragun, a former senior vice-president with Goldman Sachs, sought Mr. Harris' assistance in setting up a telemarketing operation in Hong Kong. After borrowing $5,000 from his father the parties moved to Hong Kong in October 1990 and Mr. Harris started work. Just four months later, the Hong Kong SEC caused the telemarketing operations to close.
[12] The parties and Mr. Cragun travelled through Singapore, Jakarta, Bangkok, and the Philippines looking for another jurisdiction in which to live and establish a similar telemarketing operation. Mr. Cragun chose the Philippines where Oxford International Management ("OIM") began operating as a U.S. equity fund manager.
[13] OIM began operations in April 1991, and within four months, Mr. Harris' salary doubled to $10,000 (U.S.) a month, plus a business override and a percentage of the sales he generated. By the end of 1991, Mr. Harris' earnings approached $15,000 a month. By 1993 OIM had grown to fifty employees and Mr. Harris earned over $250,000 (U.S.) annually.
[14] In 1993 Mr. Harris incorporated United Holdings Ltd. (“United Holdings”), an off-shore company, in order to open a joint bank account with Swiss Bank Corp. in Geneva, later the Union Bank of Switzerland (the ”UBS account”). He explained to Ms. Harris about the UBS account and where the UBS account documents were located. The parties are equal shareholders in United Holdings.
[15] By 1995 OIM had offices in Spain, Brussels, Taipei, Indonesia, and Bangkok, and Mr. Harris' earnings were upwards of $500,000 (U.S.) annually.
[16] Other than the occasional modelling job, Ms. Harris did not work. However, she took Spanish lessons in the Philippines for four months, and spent her time shopping, playing tennis, travelling with Mr. Harris, flying to Hong Kong to have her hair done, and looking after the house and staff. The parties had a maid, gardener, part-time carpenter, dog walker, and a driver who drove Mr. Harris to work, and then returned to the house to drive Ms. Harris wherever she wanted to go.
[17] The couple went to Italy for Ms. Harris' birthday each year, and to the Four Seasons Resort in Bali each Christmas. They stayed at some of the world's top hotels and each summer returned to Calgary and the Okanagan to visit their families.
[18] During the beach season from November to April the parties spent their weekends on Boracay Island about an hour and a half from Manila. Mr. Harris bought a boat they could use on the weekends. However, after recognizing the effort involved in pulling the boat in and out of the water every weekend, he started a small aquasports business. Mr. Harris invested approximately $200,000 in boats, jet skis, and other equipment, and built a small beach house upstairs from the aquasports business that had up to five employees. Mr. Harris made no money from the venture. As he stated, it gave them a lot of enjoyment for three or four years, but otherwise, the business lined the pockets of others.
[19] During the beach season, Mr. Harris' business colleagues, most of whom were expatriates, arrived at the beach house on Fridays after work. Ms. Harris was a good hostess and looked after the wine and cheese and other appetizers.
[20] Ms. Harris also helped arrange OIM's annual Christmas party which had as many as 400 people attending. She also helped Mr. Harris entertain at home at least twice a month.
[21] Mr. Harris invested approximately $85,000 in a small restaurant known as Rama Mahal in Subic Bay that Ms. Harris helped decorate. The parties agree that the restaurant is a family asset valued at $30,000 (U.S.) and that it will be retained by Mr. Harris.
[22] Mr. Harris' work included travel, and meeting clients and prospective clients for lunch or dinner. He often brought Ms. Harris along with him at dinners. He considered his wife an asset, because together, they were an attractive, well-dressed couple. Ms. Harris enjoyed the travelling and being able to use her credit cards "freely", but otherwise she took almost no interest in her husband's work or their finances.
The House in Osoyoos
[23] In 1995 the parties purchased from Ms. Harris' step-father, Ted Takacs, one acre of his Osoyoos orchard for $115,000. Their initial plan was to build a 3,000 square foot retirement home for approximately $500,000. Construction started in 1995 and completed in 1996. During that time, the parties lived in the Philippines so most of their directives to the contractor or architect went by fax.
[24] The house grew to 6,000 square feet, with seven bathrooms and marble flooring throughout, including the mechanical and laundry rooms. Ms. Harris had the outdoor dining area copied after the Four Seasons Resort in Bali; chandeliers cost $35,000, and a wrought iron staircase cost $40,000.
[25] In the summer of 1998 the parties began furnishing the house. A desk for Mr. Harris' home office cost $25,000 and Ms. Harris insisted on purchasing five Versace carpets for more than $100,000. Mr. Harris estimated they spent $250,000 furnishing the house. All of it came from their UBS account.
[26] The final cost for constructing and furnishing the house was over $3 million. The house was appraised at $1.7 million in January 2006. This appraisal is the average of an estimated market value of $1.5 million using the direct comparison approach, and $1.9 million using a cost approach.
[27] The comparison approach was based on three comparable sales in the Penticton area because no comparable sales exist in the Osoyoos area. It is the most expensive house in Osoyoos and would likely take months to sell if it were listed for sale.
[28] Ms. Harris testified that she wanted to retain the home but said that she would not remain in Osoyoos but would likely return to California if she does not get the home. In closing argument, Ms. Harris did not seek to retain the home but sought seventy per cent of the net equity in the home based on a value of $1.,9 million.
1997: Del Mar, California
[29] By 1996 OIM had over 10,000 clients, but Mr. Harris was under tremendous pressure as the markets began a downward turn and he was forced to deal with unhappy investors. He needed and wanted a change.
[30] Mr. Cragun was opening an investment banking business in San Diego, and Mr. Harris saw that as an opportunity to expand his knowledge of investment banking. Mr. Harris felt comfortable starting a new life in California and accumulating more wealth. Their UBS account had reached over $1 million (U.S.) and they had paid cash for the house in Osoyoos, although it still had to be furnished.
[31] In October 1997 the couple moved to Del Mar, just outside of San Diego, and rented a 3,200 square foot ocean view home for $4,750 a month.
[32] After Mr. Harris had received two pay cheques for a total of $20,000 (U.S.), around the fall of 1997 Mr. Cragun decided he wanted Mr. Harris to help him support the public companies he had invested in and work in investor relations ("IR") rather than investment banking.
[33] In December 1997 Mr. Harris purchased a 1998 Porsche 911 for $96,000 (U.S.) and in January 1998 he ordered a 1998 540 BMW for $65,000 (U.S.). The money came from their UBS account.
The Osoyoos Vineyard
[34] Sometime in 1998 Mr. Takacs convinced Mr. Harris to become a partner in his vineyard and enter into an option to purchase a portion of his property when it could be subdivided. In the last four years, the parties have spent $350,000 in equipment and grapes for the vineyard, but the venture has gone sideways. The parties have jointly commenced litigation against the Takacs and agreed that they will share equally in any resulting proceeds.
1998-1999: Veritas Communications
[35] In the spring of 1998, Mr. Harris began operating Veritas Communications, an IR firm in Vancouver, and six months later, he also began operating an IR firm in Solana Beach near San Diego. He spent Tuesday to Friday in Vancouver, and Saturday to Monday in Del Mar.
[36] Veritas leased a vehicle for Mr. Harris, and an apartment in Vancouver where he and other Veritas employees stayed when they were in town.
[37] Starting in the summer of 1998 the parties used their house in Osoyoos as a summer home and Mr. Harris continued to commute extensively. The full-time maid that the parties had in the Philippines for seven years came to work in Del Mar and Osoyoos during the summers.
[38] Other than the $20,000 in salary earned in the fall of 1997, and approximately $23,000 which represented a one per cent override on the operations in the Philippines that Mr. Cragun had agreed to pay him for six months following his departure from the Philippines, Mr. Harris received no other income in 1997. The parties lived off their UBS account.
[39] Mr. Harris explained how the IR business works:
Investor relations works like any other business. I go out and find product, stock or companies that are looking to promote their shares, give it more value, more visibility, and they will pay me in either stock or cash for those services. When the stock is given to me its not necessarily my stock; it's stock to be used to generate income to provide marketing services, and if a contract is cancelled, then quite often I will have to send the stock back, because the contracts are over normally three months, six months or a year periods. Once the stock is sold I create income and then I use that income to provide marketing services, telemarketing services, email services, direct mail services, a whole number of ways. I get them listed on foreign exchanges, such as Frankfurt, Berlin, the AIM Exchange in London, which all require costs, and at the end of the day its like running a grocery store. Once I have created the revenue, I spend whatever it takes to get the job done and I anticipate, you know, maintaining at the end of the day at least a 20% profit margin, and if things go well, a 40% margin, and if the stocks or company does exceptionally well and the stock actually goes up dramatically in value, possibly a lot more than that. And then the opposite side: if the stock or company is failing for one reason due to economic conditions or not hitting their financial targets, their stocks go down, and so then my profit margins sometimes completely evaporates. So it's a risky business and to a certain degree a stressful business.
[40] Mr. Harris received no income and drew no salary in 1998 or 1999 as the "war chest" of stock grew and he anticipated recovering a large profit or equity position in the companies Veritas was promoting. At its peak, Veritas had more than 20 employees and monthly overhead of over $100,000. At times the overhead exceeded profit, and Mr. Harris lent the company money to meet its payroll.
[41] Ash Katey is a chartered accountant who looks after a number of IR firms. Mr. Katey's explanation as to how IR firms generally operate is consistent with Mr. Harris' statement:
Q And is there a business model that investor relations people use when conducting their business?
A Well, generally the standard way will be that the investor relations person will receive a lot of shares from either the public company or, more often, from the principal shareholder of public company as an inducement to start working in increasing the price of those shares in the stock market. As the price goes up, then he can sell those shares, receive the cash, pay for the expenses, and it, of course, benefits the principal shareholders who have stock shares in those companies to now get larger sale price for their shares. From the sale price of shares, then they pay their expenses, subcontractor, and all the other things, but almost all the time the remuneration depends on how well the share prices do. If they go down and down and down, they may not have enough money to pay all their expenses. If they go up, they will become rich.
[42] Mr. Harris did not become rich. The shares were almost worthless by the time he was able to trade them. For example, ZiaSun Technologies Inc. traded between $3 and $5 a share when Mr. Harris received several thousand restricted shares as compensation under the terms of an IR contract. The stock went as high as $30. By the time the shares became freetrading in late 1999 they had plunged to $0.30 a share.
[43] When Mr. Cragun retired in 1999, Rory Boyce-Varley, an internet marketing specialist, became Mr. Harris' business partner in Veritas. The financial prospects for 2000 looked promising when Trademex placed a million shares in escrow, and Internet Studios promised two million shares. However, in 2000 things went from bad to worse. Internet marketing started its downward spiral, Trademex was de-listed, and unbeknownst to Mr. Harris, Mr. Boyce-Varley swapped Internet Studios restricted shares for freetrading shares and sold them. Mr. Harris returned from California to find that his partner had cleaned out his office and apartment, and left the country.
[44] In 2000 Mr. Harris' income was only $12,700 plus $85,000 in loan repayments from Veritas. By the end of 2000 the UBS account stood at $631,000.
[45] In early 2001, with tax losses of $888,632, and unpaid payroll taxes of over $10,000, Veritas ceased operations.
[46] Throughout these difficult financial times, Mr. Harris tried to explain to Ms. Harris that they had to live with less, but Ms. Harris refused to listen, and continued with her shopping habits.
2001: IMI Net Media
[47] In 2001 Mr. Harris started IMI Net Media, a small IR company with two employees. It had one or two clients that Mr. Harris hoped would be sufficiently successful so his company could profit.
[48] In March 2001 United Holdings opened a brokerage account with Research Capital, a Canadian brokerage firm which Mr. Harris used to place stock that he received as compensation for his IR work. Unfortunately, the stock market for internet companies was still depressed, and IMI Net Media ceased operating in early 2002 with net losses of $187,338.
[49] Mr. Harris' only income in 2001 was $10,000. By the end of 2001 the parties had spent more than $300,000 of their savings. They could not afford to travel in 2000 or 2001, but Ms. Harris' passion for high-end designer fashions continued undeterred. She spent around $100,000 on clothes and merchandise in 2000 or 2001.
The Separation
[50] The parties separated in September 2002 after 16 years of marriage.
[51] Unable to afford the cost of two homes, Mr. Harris ended the tenancy on the house in Del Mar. The household contents were packed and shipped to their home in Osoyoos. Ms. Harris' statement that she "did it all myself without any help from Mark" is an exaggeration. Mr. Harris paid $20,000 in moving costs that included three men who took two days to pack the household contents. Ms. Harris' mother helped Ms. Harris pack her personal belongings.
[52] Since October 2002, Ms. Harris has resided in Osoyoos.
[53] Daniel Munroe, the landlord of the house in Del Mar, obtained judgment against the parties for $11,600 (U.S.) for the unexpired term of the lease and registered the judgment against the Osoyoos property.
[54] The parties have a joint bank account at the CIBC branch in Osoyoos. At the time of separation their line of credit stood at $59,000. In November 2002 Ms. Harris withdrew $25,500 from the line of credit. She used $6,000 for plastic surgery and the balance for living expenses. In January 2003 Mr. Harris began depositing regular monthly payments of $5,000 (U.S.) a month into the CIBC account. From that Ms. Harris pays $2,370 a month for the mortgage, house insurance, and utilities. In addition to the $60,000 (U.S.), Mr. Harris also pays for the property taxes, Ms. Harris' car insurance and repair costs, the house, pool, and garden maintenance expenses, including the wages and accommodation expenses of the gardener for six months of the year, for a total of close to $100,000 each year since separation. Ms. Harris has also spent an additional $80,000 from the joint line of credit since separation.
2003-2004: Mr. Harris Returns to Work in Spain
[55] In February 2003 Mr. Harris sold the 1998 Porsche for $65,000. On February 17, 2003 he opened a Bank of Montreal account, deposited the $65,000 and transferred $10,000 to pay for the parties’ outstanding debt in their Wells Fargo account in California.
[56] At the beginning of 2003 there was only $127,000 remaining in the UBS account. Due to his lack of financial success in Vancouver, Mr. Harris returned to Marbella, Spain as a United Holdings consultant, to set up offices for Global Asset Advisors. At the same time he began a common law relationship with Jonni Sissons.
[57] Mr. Harris found the work environment in Spain much more difficult and competitive than before. From his 2003 gross revenue of $273,000 that he deposited into the UBS account, roughly $153,000 remained after operating expenses, including office overhead and the salary of three employees. Mr. Harris sent $97,000 to Osoyoos, which included $5,000 (U.S.) per month for spousal support in addition to money for property taxes and house maintenance. That left Mr. Harris with under $60,000 to support himself and Ms. Sissons. He supplemented this amount with $7,000 withdrawn from the UBS account and approximately $40,000 in gains generated in the Research Capital account. That year, Mr. Harris also paid $7,000 in legal fees incurred by Ms. Harris to defend a driving offence.
[58] In 2004, Mr. Harris generated gross revenue of $335,000, out of which he paid operating expenses of $150,000. He again sent $97,000 to Osoyoos, leaving him with about $88,000. He supplemented this amount with $38,000 from the UBS account, reducing its balance to below $100,000. On January 24, 2004, Ms. Sissons gave birth to their son in Malaga, Spain. The cost for hospital care was approximately $25,000, leaving Mr. Harris with about $100,000 to support himself, Ms. Sissons, and their newborn.
[59] In June 2004 Mr. Harris and his new family returned to Canada. He became a Canadian resident on June 27, 2004. Until then, and for most of the marriage, Mr. Harris had been a non-resident. He began working as an IR consultant and using the United Holdings brokerage account Research Capital for his business dealings. In the fall of 2004 he became the sole shareholder of Skylla Capital Corp. and rolled into that company the IR contracts he entered into that year. His income from Skylla from June 2004 to June 2005 before tax amounted to $133,588. His income for the calendar year 2005 is approximately $130,000. He anticipates earning the same income in 2006.
Allegation credibility and allegations of non-disclosure.
[60] A constant and strident theme throughout the trial was that Mr. Harris made late disclosure or failed to disclose. A similar theme was Mr. Harris’ “ability to spin tales” and his lack of credibility. There is no doubt from the manner in which this trial was conducted and from Ms. Harris’ evidence that Ms. Harris sought to establish that Mr. Harris has a greater income and more assets at his disposal than he has disclosed.
[61] I observed Mr. Harris testify for more than four days. He answered the questions as best he could; he was not evasive. If there were any inconsistencies in his answers, they were minor discrepancies that he was able to explain. His evidence regarding his financial affairs was uncontradicted. I was impressed with his ability to recall dates and events and understand and recall voluminous financial records. Although Ms. Harris and her counsel tried to paint a portrait of a man who evades his taxes and bills, hides his assets, and cannot be believed, I find Mr. Harris to be credible. If there is any conflict between the evidence of Ms. Harris and Mr. Harris, I prefer the evidence of Mr. Harris.
[62] Ms. Harris struck me as quite uninterested in Mr. Harris’ business dealings or their finances during the marriage. She resolutely denied knowing anything about their finances, his work, or even why they moved from Spain to Hong Kong or elsewhere. Her answers were generally along the lines of “I had nothing to do with his office things”.
[63] For example, Ms. Harris testified that Mr. Harris told her that he had a Banco Italiano account. She said that they were out for dinner with a Banco Italiano banker and his wife when the banker said that Mr. Harris could not open an account with less than $1 million. Ms. Harris also said that she found the Banco Italiano account number from a printout from Mr. Harris’ Palm Pilot. There is however no Banco Italiano account.
[64] Mr. Harris explained the situation. He said that a UBS bank manager he had been working with left UBS to work for Prime Partners where they had higher capital limits of $1 million. He was interested in Mr. Harris’ business, but Mr. Harris was not interested in changing banks. Similarly, a bank manager at UBS went to work for Banco Italiano. He tried unsuccessfully to encourage Mr. Harris to move his account to Banco Italiano. Mr. Harris told Ms. Harris that they should have just one savings account and that it should remain at UBS.
[65] This is not a case where one spouse has kept details of his or their finances from the other spouse. This is a case where one spouse has repeatedly tried to explain details of their finances, but the other spouse was not interested in listening.
[66] This action was commenced in June 2004. The statement of defence was filed in March 2005. Ms. Harris was not examined for discovery. Mr. Harris was examined for discovery in July 2005. There were no interim applications. In October 2005 Mr. Harris delivered to the lawyer for Ms. Harris four large bankers’ boxes containing Veritas documents, cancelled cheques, GST records, banking records, financial statements, credit card statements, wire transfers, and all of the other document records that Mr. Harris was able to obtain up to that date.
[67] Mr. Harris has made more than reasonable efforts to obtain documents from the Philippines, Spain, Switzerland, California, and every place in the world he has worked or opened a bank or credit card account in the last several years, including documents of the companies that he has worked for. Understandably, it took time to obtain some of the documents. Mr. Harris was unable to obtain other documents, such as OIM's tax filings in the Philippines despite a concerted effort. Almost as soon as Mr. Harris received documents as a consequence of his search, his counsel delivered a supplemental list. Mr. Harris has produced his sixth supplementary list of documents.
[68] Mr. Harris was not examined for discovery on any of the documents contained in the four bankers' boxes. At trial he was taken almost line by line through credit card statements, bank statements, cheques, and financial statements, on the basis that it was necessitated by Mr. Harris' late disclosure. However, the cross-examination failed to shed any light on any assets that Mr. Harris has not otherwise disclosed.
[69] In preparation for trial, Mr. Harris cross-checked hundreds of documents in order to reconcile all of the funds in his Bank of Montreal account. In extensive cross-examination, he was able to state what each cheque was for, the source of the funds, and how to read various banking documents, including UBS account statements. None of his material evidence was contradicted.
The Brokerage Accounts
[70] Ms. Harris alleges that Mr. Harris avoids paying taxes, has an off-shore existence, “ran his affairs like one big ball”, and intermingled his personal and business assets. She therefore contends that all of his business assets, particularly the Research Capital brokerage account, should be considered family assets. Ms. Harris produced various schedules showing large sums of money going in and out of the Research Capital and other accounts. However, I found the schedules alone, without explanation, to be meaningless.
[71] Mr. Harris produced tax returns and financial statements for Veritas, IMI Net Media and Skylla. He said that he filed tax returns in the Philippines and described his unsuccessful efforts to obtain copies of the tax filings made in that country. Based on advice from an accountant in Spain, he understands that he has five years within which to report income.
[72] Mr. Katey testified that Mr. Harris only needed to declare income earned in Canada after June 27, 2004. Mr. Katey helped prepare Mr. Harris’ 2004 personal tax return and Skylla's corporate tax return. Over the course of three meetings between Mr. Harris and Mr. Katey or his assistant, Mr. Katey carefully reviewed and questioned various IR contracts, receipts, banking documents, credit card statements, transfers in and out of the different accounts, including UBS account records, chequebooks, the Research Capital account, and Veritas’ loss of over $800,000, in order to determine to his satisfaction which expenses and items were personal to Mr. Harris and which were business related. Except for one unrelated question, Mr. Katey was not cross-examined. I accept his evidence.
[73] Between February 2002 and August 2005 all of the cheques issued from the Research Capital account totalling close to $174,000 in Canadian funds and $247,000 in U.S. funds went towards IR contract obligations. No funds from any of the parties’ bank accounts, including the UBS account, or another personal bank account, were deposited into the Research Capital account.
[74] While United Holdings was incorporated off-shore, I do not find that Mr. Harris otherwise has an "off-shore existence". I am satisfied that he has made full financial disclosure, and that his current annual income is approximately $130,000. As his counsel asked rhetorically during closing argument: “If Mr. Harris was truly trying to hide his income, why would he deposit his 2003 and 2004 income into the UBS account? Why not open a secret account and deposit monies there?”
[75] Ms. Harris contributed neither directly nor indirectly to the Research Capital account. I am satisfied that the Research Capital account is an excluded business asset and not a family asset.
Ms. Harris' Spending Habits during the Marriage and since separation.
[76] Ms. Harris testified about expensive jewellery Mr. Harris bought during their marriage, her personal shopper, and her ability to buy Versace, Dolce & Gabbana and other expensive designer clothes on sale.
[77] Mr. Harris testified about closets so full of her clothes and shoes that he had little room in a closet for more than one shirt. He complained that she would not listen when he tried to talk to her about their finances, the cost of maintaining two expensive homes, and the need to reduce her spending. Ms. Harris continued to shop and spend as she always had.
[78] In August 2002, shortly before separation, Ms. Harris insisted that Mr. Harris come with her to Saks Fifth Avenue because she wanted an $8,000 full length mink coat. An argument ensued over the coat, and Mr. Harris stormed out knowing that Ms. Harris’ Saks Fifth Avenue credit card was at its maximum limit. Undeterred, Ms. Harris opened another Saks Fifth Avenue account and purchased the coat. The account remains unpaid. When asked about the account, Ms. Harris’ retort was that Mr. Harris has a habit of not paying his accounts.
[79] Ms. Harris swore two Financial Statements. The Financial Statement she swore in November 2005 lists total annual expenses of $218,424 which she describes as her “lifestyle before separation”, including $3,000 a month for clothing, and $537 a month for hair care and cosmetics. The Financial Statement she swore on April 21, 2005 lists total annual expenses of $97,572 or what Ms. Harris describes as her “bare minimum” including $1,000 a month for clothes and $500 a month for hair care and cosmetics.
[80] Mr. Harris argues that Ms. Harris' profligate spending habits contributed only to the depletion of the parties’ assets rather than to the acquisition, preservation or maintenance of the assets.
[81] There is no doubt that Ms. Harris has a clothes buying habit, but it is not the function of this court to delve into the parties’ spending habits during the marriage. Her expensive clothes and jewellery are not considered by the parties to be a family asset but they are a factor that may be taken into account in apportioning the family assets under s. 65(1)(f) of the Family Relations Act, R.S.B.C. 1996, c. 128: see Uchikoshi v. Suzuki, 2004 BCSC 1763 at ¶ 49-53. In my view this must be so because the credit card debts that were incurred by Ms. Harris prior to separation and up to the triggering event, including the Saks Fifth Avenue credit card debt for the fur coat are agreed to be family debts. It is appropriate to consider the purpose for which family debt was incurred in determining an apportionment of the family assets: Mallen v. Mallen (1992), 40 R.F.L. (3d) 114 at 117, 65 B.C.L.R. (2d) 241 (C.A.).
The Assets and the Liabilities
[82] A s. 57 declaration was made on April 21, 2005. The parties are entitled to an undivided half interest in the family assets as of that date, subject to any reapportionment.
[83] The family assets, excluding the former matrimonial home, are as follows:
ASSETS
ITEM
VALUE
(CDN Dollars)
RETAINED BY
1998 BMW 840
$24,000.00
Plaintiff
CIBC Account #72-56337
$1,869.31
Plaintiff
Dzigurski Painting
$10,000.00
Plaintiff
Versace carpets
$50,000.00
Plaintiff
1991 BMW 850
$15,000.00
Defendant
1998 Yamaha Scooter
$2,100.00
Defendant
21 Foot SeaRay Boat
$20,000.00
Defendant
CIBC USD Account Term Deposit
$109,973.22
Defendant
UBS Swiss Account
$34,296.00
Defendant
Thai Oil Painting
$10,000.00
Defendant
Persian carpets
$50,000.00
Defendant
Shares in Rama Mahal Restaurant
$34,296.00
Defendant
Other household contents, excluding clothing and jewellery
To be determined by inventory and valuation
Plaintiff and Defendant equally
Value of assets retained
$85,869.31
Plaintiff
Value of assets retained
$275,665.22
Defendant
[84] The family debts are as follows:
DEBTS
ITEM
AMOUNT
(CDN Dollar)
CIBC Mortgage (as of May 19, 2005)
$233,875.00
CIBC Joint Line of Credit
$119,694.50
CCRA owing by Mark Harris
$9,711.00
Property Taxes owing
$4,227.33
Del Mar landlord's judgment
$19,958.11
Taxes payable by Mr. Harris on 2004 income
$17,995.00
Ms. Harris' credit card debt
$42,796.46
Mr. Harris' credit card debt
$29,591.08
TOTAL DEBTS TO BE DIVIDED
$477,848.48
[85] I have not included in the assets the proceeds of the 1986 and 1988 Porsches as Ms. Harris would like because they were sold before the triggering event and the proceeds were used by Ms. Harris or otherwise used for the Osoyoos property for a family purpose.
[86] As I indicated earlier, while I do not include Ms. Harris’ fur coat or jewellery worth approximately $100,000 in the family assets, it is appropriate to consider their value, because they were purchased with family assets and some of the purchases remain a family debt. Mr. Harris’ four brokerage accounts, including the United Holdings account with Research Capital, are excluded business assets. The gross value of these brokerage accounts as of December 31, 2005 was $51,460.36. Finally, while United Holdings is a family asset, the shares currently have no value. Mr. Harris will retain the shares in United Holdings, Veritas, IMI, and Skylla, all of which have no value.
Ms. Harris’ Claim for Reapportionment and Support
[87] Ms. Harris seeks seventy per cent of the net equity of the former matrimonial home based on a value of $1.9 million and $200,000 in lump sum spousal support. Her claim appears to be based primarily on need.
[88] Mr. Harris is willing to pay Ms. Harris one-half the $1.9 million value of the matrimonial home which is $200,000 above the appraised value and lump sum spousal support of $100,000. However he requires time to organize his affairs in order to raise the funds to do so.
[89] The Divorce Act, R.S.C. 1985, c. 3 (2nd Supp.), provides:
Objectives of spousal support order
15.2(6) An order made under subsection (1) or an interim order under subsection (2) that provides for the support of a spouse should
(a) recognize any economic advantages or disadvantages to the spouses arising from the marriage or its breakdown;
(b) apportion between the spouses any financial consequences arising from the care of any child of the marriage over and above any obligation for the support of any child of the marriage;
(c) relieve any economic hardship of the spouses arising from the breakdown of the marriage; and
(d) in so far as practicable, promote the economic self-sufficiency of each spouse within a reasonable period of time.
[90] The Family Relations Act, R.S.B.C. 1996, c. 128, provides:
Judicial reapportionment on basis of fairness
65(1) If the provisions for division of property between spouses under section 56, Part 6 or their marriage agreement, as the case may be, would be unfair having regard to
(a) the duration of the marriage,
(b) the duration of the period during which the spouses have lived separate and apart,
(c) the date when property was acquired or disposed of,
(d) the extent to which property was acquired by one spouse through inheritance or gift,
(e) the needs of each spouse to become or remain economically independent and self sufficient, or
(f) any other circumstances relating to the acquisition, preservation, maintenance, improvement or use of property or the capacity or liabilities of a spouse,
the Supreme Court, on application, may order that the property covered by section 56, Part 6 or the marriage agreement, as the case may be, be divided into shares fixed by the court.
Obligation to support spouse
89(1) A spouse is responsible and liable for the support and maintenance of the other spouse having regard to the following:
(a) the role of each spouse in their family;
(b) an express or implied agreement between the spouses that one has the responsibility to support and maintain the other;
(c) custodial obligations respecting a child;
(d) the ability and capacity of, and the reasonable efforts made by, either or both spouses to support themselves;
(e) economic circumstances.
(2) Except as provided in subsection (1), a spouse or former spouse is required to be self sufficient in relation to the other spouse or former spouse.
[91] Under s. 65 of the Family Relations Act, it is necessary to determine whether an equal division of the assets would be unfair.
[92] The duration of the marriage was 16 years which by itself would tend towards equality of division (see S.B.M. v. N.M. (2003), 14 B.C.L.R. (4th) 90, 2003 BCCA 300 at ¶ 23). The parties have been apart for three and a half years. During this time Ms. Harris has been supported by Mr. Harris. She recognizes that she is required to become self-sufficient, but her conduct indicates otherwise.
[93] Ms. Harris was 38 years old when the parties separated in September 2002. Other than working as a receptionist for four months before the marriage, and the occasional modelling assignment during the marriage, she has no work history. While Ms. Harris says that Mr. Harris never asked her to work during the marriage, he encouraged her to work at OIM’s offices in the Philippines when she frequently said that she was bored. When she expressed an interest in importing furniture from Bali to the Okanagan, he set up a company and a bank account for her, but that is as far as it went. There is no evidence that Ms. Harris wanted to advance her education or work skills during the marriage. Nonetheless, I accept that during the marriage, both parties assumed that there was no necessity for Ms. Harris to work or further her education.
[94] In February 2003 Mr. Harris offered to pay for Ms. Harris to take various aptitude and interest tests through the Women’s Resource Centre at UBC to help her determine what work she might be suited for or interested in. She has refused his offer.
[95] Mr. Harris has suggested avenues Ms. Harris might explore, such as being a veterinary assistant, because she loves animals, or being a personal shopper, because she has exquisite taste and enjoys interacting with people. He has offered to pay for any training programs that would assist her in becoming self-sufficient. Instead she has taken no real steps towards finding work or training because she claims she is too emotionally distraught from moving and unpacking in 2002, not knowing where Mr. Harris was at times, and learning about his girlfriend.
[96] While there is no doubt that Ms. Harris was distraught over the break up of the marriage, there is no medical evidence that she is physically or emotionally unable to take at least some steps towards becoming economically independent. She has no child care obligations. I recognize it will be more challenging for her to become self-sufficient at this point in her life than it would have been had she not met and married Mr. Harris. However it could also be said that given her education and work history, she has been economically advantaged by the marriage and its breakdown.
[97] Having considered the applicable factors enumerated, I do not find that an equal division of the assets would be unfair.
[98] Ms. Harris is entitled to one-half of the net value of the matrimonial home remaining after payment of the family debts. The home is appraised at $1.7 million. For the purpose of equalizing the family assets, I fix the value of the home at $1.9 million. Mr. Harris will have ninety days within which to pay Ms. Harris one-half of the net value of the home after payment of the family debts based on a value of $1.9 million. Ms. Harris shall deliver vacant possession to Mr. Harris within sixty days of her counsel's receipt of written notification that the buyout will proceed. In the event that Mr. Harris is not able to purchase Ms. Harris' interest, the home shall be listed for sale with joint conduct of sale, with liberty to either party to apply to court for directions regarding the sale.
[99] While the standard of living during marriage is a relevant consideration in determining spousal support, Mr. Harris is not required to fund the lifestyle to which Ms. Harris became accustomed to during the marriage. Spousal support is affected by the paying spouse’s ability to pay. The parties’ earn-and-spend lifestyle was contingent: Mr. Harris rode the internet marketing wave and crashed with it. They spent beyond their means.
[100] Since their separation, Mr. Harris has paid $5,000 (U.S.) a month in spousal support and in addition, he has paid for maintenance of the Osoyoos property, property taxes, Ms. Harris' car insurance, and gardener’s wages. His total annual support of nearly $100,000 for the past three years exceeds fifty per cent of his annual income, well in excess of the Spousal Support Guidelines. In addition, Ms. Harris has used and increased the line of credit by approximately $60,000. The time has come where Ms. Harris must learn how to live with less, and how to earn a living on her own.
[101] I award Ms. Harris spousal support of $150,000 to be paid in two equal installments on January 1, 2007 and January 1, 2008.
[102] Ms. Harris requested payment by Mr. Harris of fees for her to take a real estate course. She has "looked into" being a realtor because a girlfriend has two real estate franchises. I decline to make this award, because I see no reasonable prospect of Ms. Harris taking the course and remaining in B.C.
Conclusion
[103] In conclusion:
1. The parties will retain the family assets as set out at paragraph 83.
2. Ms. Harris is entitled to one-half of the net value of the matrimonial home set at $1.9 million, after payment of the family debts set out at paragraph 84. Mr. Harris will have ninety days within which to pay Ms. Harris her share of the asset. Ms. Harris shall deliver vacant possession to Mr. Harris within sixty days of her counsel's receipt of written notification that the buyout will proceed. In the event that Mr. Harris is not able to purchase Ms. Harris' interest, the home shall be listed for sale with joint conduct of sale, with liberty to either party to apply to court for directions regarding the sale.
3. Ms. Harris will receive spousal support of $150,000 to be paid in two equal installments on January 1, 2007 and January 1, 2008.
4. The divorce order is granted.
5. Mr. Harris was largely successful and is entitled to seventy-five per cent of his costs.
“L.A. Loo, J.”
The Honourable Madam Justice L.A. Loo
BOILER ROOM CROOK MARK HARRIS WAS IR FOR ALL OF THESE STOCKS IN THIS STORY THAT WAS ON THE FRONT PAGE OF THE WALLSTREET JOURNAL. IN MARK HARRIS DIVORSE PAPERS IT TURNS OUT HE WAS ALSO INVOLVED WITH THE BOILER ROOMS MENTIONED IN THIS ARTICLE
Beyond the SEC's Reach, Firms Sell Obscure Issues to Foreign Investors
By JOHN R. EMSHWILLER and CHRISTOPHER COOPER
Staff Reporters of THE WALL STREET JOURNAL
please visit http://www.wsj.com
The call couldn't have been timed better. Adrian Lawlor, a Dublin computer-systems salesman, and his wife had just received a $17,000 settlement from a car accident his wife had been in when a broker from International Asset Management in Brussels rang him up. Speaking with an American accent, the broker told Mr. Lawlor he had just the ticket for entering the red-hot U.S. stock market.
"They said they had a wonderful investment opportunity for me," Mr. Lawlor says.
Although "absolutely green" when it came to stocks, Mr. Lawlor decided to sink most of the settlement into the broker's recommendations. That was in 1996, and he was happy for a time and unruffled when his broker moved from Brussels to Barcelona, Spain. But then he tried to sell some shares of a small-cap issue that had begun to stumble. The broker said he would make the sale only if Mr. Lawlor agreed to plow the proceeds -- and $10,000 more -- into shares of a tiny California company called ZiaSun Technologies Inc.
A Matter for the Police
Mr. Lawlor refused and then complained to Spanish regulators. Though the brokerage was based in Barcelona, Spanish regulators said they had no jurisdiction because IAM apparently didn't sell to Spaniards. "If you consider this situation a matter of fraud," Spanish regulators wrote, "the normal procedure is to get in touch with the police."
Instead of calling the police, Mr. Lawlor managed to sell some shares "by complaining bitterly to my broker." But still, he hasn't been able to unload his biggest holding, a stake in a troubled start-up that he bought for $6,000 and that is now worth about $90. He has lost contact with his IAM broker, who went by the name Steve Young.
"An Irish citizen buying U.S. stocks through a dealer based in Spain," Mr. Lawlor says. "The whole experience made me realize how alone I was."
Alone in a growing crowd, that is. Nurtured by economic liberalization and the steady rise in U.S. markets over the past decade, legions of Europeans and Asians have developed a strong appetite for stock investments. Much of the focus is on the U.S.; in just the 12 months ended March 31, foreigners bought $2.8 trillion worth of U.S. shares, up 65% from the previous 12 months, the U.S. Treasury says. After accounting for stock sales, net foreign purchases totaled $159.6 billion during the period. About 85% of that was from Europe.
Many Affiliates, Many Names
But as the global investor base broadens, a big problem has arisen: Investors are often venturing into a gray area that national regulators are either unable or unwilling to police. And that makes them particularly vulnerable to the likes of International Asset Management. This outfit and its many affiliates operating under many names throughout Europe and East Asia buy shares in small, obscure U.S. companies, some linked to IAM through equity or other ties, and then sell the stock to foreigners who often are ill-informed about the companies they are investing in, the difficulty of trading the stock and their own lack of regulatory protection.
IAM officials turned down repeated requests for interviews and have refused to identify the precise location of their Barcelona offices.
In recent years, investors from Athens to Australia have purchased millions of dollars of stock in U.S. companies from IAM and its affiliates. Many, like Mr. Lawlor, have found themselves unable to sell their shares or even get stock certificates, and nearly all are unable to get help from regulators.
Sudden Disappearance
Guy Fletchere-Davies, a 62-year-old carpet manufacturer in Melbourne, Australia, bought ZiaSun and other small U.S. stocks over several years from the Manila office of Oxford International Management, a brokerage firm with ties to IAM. Mr. Fletchere-Davies says his account was passed around among several Oxford salespeople and then to a successor firm. Late last year, "suddenly, the phone calls stopped and paperwork dried up," he says.
The Australian has since embarked on a frantic telephone journey from Manila to Jakarta to Manhattan to the British Virgin Islands in hopes of learning the fate of the nearly $150,000 that was to be his retirement nest egg. "We don't know who to talk to,'' he says. "We don't know where to go."
Nikolas Morokutti, a 26-year-old owner of a computer business in Innsbruck, Austria, thought he knew where to go when he had trouble getting his ZiaSun share certificates from IAM. He called the U.S. Securities and Exchange Commission. The agency, he says, told him that it couldn't help because the shares were issued under Regulation S.
These Regulation S stock sales are allowed under a 10-year-old provision of U.S. securities law that is intended to allow American public companies to raise capital from experienced foreign investors without the onerous registration process required to sell stock in the U.S. Once sold abroad, Regulation S shares cannot legally be resold to U.S. investors for at least a year; they can, however, be sold to other foreigners during that period.
While hundreds of perfectly legal and legitimate S-share transactions occur each year, unscrupulous operators have found a way to exploit Regulation S to their advantage. The way it often works, a promoter that is at least nominally based outside the U.S. buys large blocks of S shares from American issuers at deep discounts and then sells them at huge markups to neophyte investors abroad.
The SEC doesn't comment on specific cases and won't comment on the current state of Regulation S. Non-U.S. regulators aren't much help either, though they periodically warn citizens to avoid boiler-room brokers operating outside of their home country. British stock regulators recently noted a sharp rise in the number of boiler rooms in continental Europe that target English residents. "The firms are not registered here, so it's up to our counterparts in other nations to regulate them, which is very frustrating," says Sarah Modlock of Britain's Financial Services Authority.
A Lot in Common
Over the past few years, IAM and related brokerage firms have marketed shares in about a dozen small U.S. companies. Overseas customers of IAM's offices in Barcelona often receive a monthly publication called "The Capital Growth Report," which mixes glowing reviews of the small companies in IAM's stable with commentary about well-known companies such as Compaq Corp. Several of the small companies have held stock in each other, used the same investor-relations firm or employed Jones, Jensen & Co., a Salt Lake City accounting firm, which is auditor of ZiaSun, a company that looms large in IAM's pitches.
In May, the SEC filed administrative charges against the accounting firm's two named partners, R. Gordon Jones and Mark F. Jensen, for "recklessly violating professional accounting and auditing standards" in an audit of a company unrelated to ZiaSun. Mr. Jensen denies wrongdoing. Mr. Jones didn't return phone calls.
The tale of IAM and its affiliates is deeply entwined with that of ZiaSun, based in Solana Beach, Calif., just north of San Diego, in a modest ground-floor office suite nestled between a freeway and the sea. An IAM affiliate has an address on the same floor of a Hong Kong office building as ZiaSun's office in that city, and ZiaSun maintains the Web sites of IAM and of some of its affiliates.
ZiaSun has operated under various names since it was founded and went public in 1996, and it has engaged in businesses ranging from motorcycles to soda dispensers. In news releases, it now bills itself as "a leading Internet technology holding company focused on international investor education and e-commerce." About 85% of ZiaSun's 1999 revenue came from a business that operates traveling seminars on Internet stock trading for $2,995 a pop. "You Can Become a Millionaire on Regular Pay," says one seminar flier.
In an April 1999 news release, ZiaSun said its 1998 audited earnings totaled $1.15 million, on $3.5 million in revenue. When the company filed financial results with the SEC last September, the audited 1998 sales had dropped to $2.3 million. In a later SEC filing, ZiaSun again revised downward its 1998 sales, to $760,529, and cut net income to $769,320. ZiaSun earnings included profits from securities transactions involving other public companies. Some of ZiaSun's securities holdings include companies that also issue large amounts of Regulation S stock and whose shares have been sold by IAM and affiliates.
ZiaSun officials decline to be interviewed, citing a pending lawsuit filed by ZiaSun in federal court in San Francisco against a group of Internet critics of the company for allegedly mounting a "cybersmear campaign" against ZiaSun. In a written statement in response to written questions, ZiaSun officials say they are "fully committed to preserving and developing the shareholders' equity."
More than half of ZiaSun's own 27 million shares outstanding have been sold to foreigners under Regulation S, according to the company's SEC filings. In two transactions in 1997, ZiaSun sold 15 million shares at 10 cents a share under Regulation S to foreign investors, whose identities didn't have to be disclosed in public records. At about the same time, investors in Europe and Asia say they received calls from salesmen from IAM and related brokerages offering ZiaSun stock at $4.50 or more a share. In the U.S. during the same period, ZiaSun, under previous corporate names, was trading on the Nasdaq Bulletin Board at between $1.25 and $5.50 a share on average daily volume of several thousand shares.
Vladimir Kaplan, a Zurich doctor, bought some of those ZiaSun S shares. His Barcelona-based IAM broker, Lynn Briggs, offered ZiaSun at $4.50 a share on Oct. 7, 1998 -- when the stock was trading in the U.S. for between $2.50 and $4 a share. Unable at the time to independently determine ZiaSun's stock price, Dr. Kaplan bought nearly 8,000 shares to start, and more over the ensuing weeks. Dr. Kaplan knew his broker as a senior portfolio manager at IAM and trusted his judgment, especially after Mr. Briggs flew to Zurich to make a personal sales call. What he says he didn't know: According to SEC filings, Mr. Briggs also was one of ZiaSun's founders. Mr. Briggs couldn't be located for comment.
Tapping Overseas Buyers
Titan Motorcycle Co., a Phoenix, Ariz., motorcycle manufacturer, is another favorite of IAM brokers. Between 1996 and 1998, Titan issued about 5.3 million shares of Regulations S securities in chunks to unidentified overseas buyers for an average price of $1.32 a share, even as clients such as Dr. Kaplan were purchasing stock in the company for far more. According to SEC filings, about a third of the company's total shares outstanding have been sold to foreigners.
Titan officials didn't return calls. In a brief written statement, Titan Chief Executive Frank Keery said that all company Regulation S sales "were conducted precisely as required by law." Titan's "knowledge of subsequent resale activities is essentially nil as these resales take place exclusively outside the U.S.A.," he added.
ZiaSun and Titan have something in common besides IAM. Bryant Cragun, a former president and chief executive of ZiaSun and now a consultant to the company, describes himself in court documents as "investment adviser and fund-raiser" for ZiaSun, Titan and other small companies whose shares are sold by IAM and related brokerages. He co-owns four Titan motorcycle dealerships.
Several investors say their brokers referred to Mr. Cragun as a senior official of IAM. Stefan Van Rooyen, a Swiss investor, says he was told by his Barcelona-based broker in June that Mr. Cragun was IAM's president. A recent SEC filing shows IAM has the same U.S. address as Mr. Cragun, at a gated condominium project in Solana Beach, not far from ZiaSun's headquarters.
In a letter, Mr. Cragun says he was never an IAM officer. He says he leases the condominium in Solana Beach. He acknowledges that between 1991 and 1997, he was chairman of Oxford International, a Philippine brokerage firm that markets many of the stocks IAM touts and that, according to SEC filings, has bought Regulation S shares in two such companies.
Mr. Cragun says the SEC spent five years investigating his role in selling Regulation S shares overseas and "never filed anything against me." An SEC spokesman declines to comment. An offering statement for an overseas investment fund founded by Mr. Cragun says he has a U.S. securities broker's license. The National Association of Securities Dealers says its records show that Mr. Cragun hasn't held a license since 1988. Mr. Cragun, in a written response, says that putting his license status in the present tense was a "typographical error."
Mr. Cragun says he sold his interest in Oxford in 1997 to a company headed by William Strong, who shows up as an account representative on monthly statements received by several IAM customers. Mr. Strong, who says he was merely an IAM consultant, confirms that he bought Oxford. He says IAM and Oxford are "essentially the same company. They are two different entities in the same arena with the same people."
In an April filing, Titan said it issued 724,638 shares of Regulation S stock early this year to Oxford International in connection with a 1996 loan. As Oxford's owner, Mr. Strong says he never received any of the stock (doing so could violate Regulation S, since he's an American). Titan officials didn't respond to questions on this matter.
No Outward Signs
In Barcelona, IAM has in the past shared offices, telephones and personnel with at least three other brokerage firms -- including one owned for at least a time by Mr. Strong. But the exact location of IAM's current office is a mystery. A phone receptionist provides only a mailing address. That address leads to a small office building that has no identifying signs and that on three visits during business hours was locked and dark. Another location, often cited on IAM's correspondence, is an unmarked and rundown suite of offices in an unfashionable part of town staffed by a woman who appears to run a phone service for dozens of companies. A woman who answered the phone at the firm's Manila office said all sales operations had ceased.
Several investors say their brokers, though hard to locate, have recently been pushing them to exchange stock in ZiaSun and other companies for shares in a British Virgin Islands-registered mutual fund called the Morgan Fund. Mr. Fletchere-Davies says he agreed to move his money into the Morgan Fund as an alternative to losing a large chunk of his investment in individual stocks, though he says he has been told he might not be able to cash out of the fund for at least several months.
A Morgan Fund brochure shows that Mr. Cragun, the former ZiaSun executive and former Oxford owner, is one of the fund's two directors. Mr. Cragun says he set up the fund because buying companies' shares directly "is way too much risk to individual investors."
Write to John R. Emshwiller at john.emschwiller@wsj.com and Christopher Cooper at christopher.cooper@wsj.com
BAD NEWS. RAIN CITY MARKETING ACCEPTS $5,500 FROM BOILER ROOM CROOK MARK HARRIS (APACHE CAPITAL)TO HYPE COMPANIES STOCK.
HOW HIGH CAN THESE CROOKS MAKE IT GO?
Raincity Marketing Group Inc expects to be compensated up to five thousand five hundred dollars by a third party, APACHE CAPITAL, to conduct marketing services for Genmed Holding Corporation. Our alert and emails may contain forward looking statements, which are not guaranteed to materialize due to a variety of factors. We do not guarantee the timeliness, accuracy, or completeness of the information on our site or in our newsletters. The information in our email newsletters and on our website is believed to be accurate and correct, but has not been independently verified and is not guaranteed to be correct
http://pennystocksclub.com/members-stock-picks/genmed-holding-corporation-otc-genm-to-enter-generic-pharmaceutical-market
Genmed Holding Corporation (OTC: GENM) to Enter Generic Pharmaceutical Market
Posted on January 19, 2011 by The Penny Stocks Club President
Hello Traders!
Our last pick, SOPV, gained a conservative 5%, this solar stock traded 543,095 shares, or more than 10 times its 10-day average volume.
While SOPV could potentially receive more positive attention this week, our attention turns to a penny stock that closed up 10.81% at $0.41, its high of day.
This stock is GENM.
Genmed Holding Corporation (OTC: GENM) is an international company focused on delivering low-cost generic medicines directly to distribution chains in Europe and other countries.
On Friday, GENM issued a report on the size and scope of the European Union’s generic drug market, which consists of several countries comprised of more than 365 million people and a combined gross domestic product (GDP) of over $14.4 trillion.
This press release also tells us:
“Major expansion of generic pharmaceutical sales is expected in EU countries such as Germany, France, the United Kingdom, Italy and Austria.”
Generic pharmaceuticals in the top eight markets (United States, Canada, France, Germany, Italy, Spain, the United Kingdom and Japan) represented $62.6 billion in revenue in 2009
Generic pharmaceuticals account for 72% of the total U.S. pharmaceutical market, with estimated of sales exceeding $100 billion worldwide this year.
GENM has several competitive advantages:
GENM has taken the necessary steps to acquire distribution licenses in Romania, Holland, the United Kingdom, United States, Germany and Ireland.
With these licenses, GENM can initiate new distribution licenses in the rest of the world.
GENM has the ability to sell directly to the distributor and cut out wholesalers, which offers lower production and distribution costs, and faster delivery.
GENM‘s production facility adheres to the strictest worldwide standards for generic pharmaceutical production.
In Friday’s press release, GENM CEO Reggie Bowens further suggested the Company has a competitive edge, “We couldn’t pick a better time to be entering the generics market with our first licensed product, paracetamol [acetaminophen]. With the ramp out of our sales teams in the European Union this quarter, we fully anticipate owning a piece of this enormous market.”
Today, GENM announced a successful 2010, and its plans to “focus on distribution and top-line revenue,” which could be achieved through “highly competitive pricing.” The Company also announced its intentions to market Paracetamol, “one of the most popular analgesics used around the world,” on a private label basis as well as develop their own brand.
GENM has completed a two year application process and is “finally in negotiations now with several clients both here in the European Union and in the Middle East.” Additionally, GENM “is also exploring other markets where demand is high and the regulatory environments is not as tedious.”
Perhaps even more interesting is that GENM “expects purchase orders and initial shipments to begin within the first quarter of 2011.”
As always, we suggest our members to conduct their own due diligence and can do so by starting with the following links:
View the GENM website
View recent GENM news
Happy Trading,
The Penny Stocks Club President
We do not have a position in the above featured company
To view our full disclaimer, please visit http://pennystocksclub.com/disclaimer/.
Raincity Marketing Group Inc expects to be compensated up to five thousand five hundred dollars by a third party, APACHE CAPITAL, to conduct marketing services for Genmed Holding Corporation. Our alert and emails may contain forward looking statements, which are not guaranteed to materialize due to a variety of factors. We do not guarantee the timeliness, accuracy, or completeness of the information on our site or in our newsletters. The information in our email newsletters and on our website is believed to be accurate and correct, but has not been independently verified and is not guaranteed to be correct.
This entry was posted in Members Stock Picks and tagged genm, genmed holding corporation, otc genm, penny stocks, pennystocks. Bookmark the permalink.
? PSC Alert: Solar Park Initiatives, Inc. (OTC: SOPV)
VERY GOOD NEWS FOR AVID GENM DEVOTEES. GENM no longer pronoted by offshore boiler room crook Mark Harris. The bad news is it once was in the tune of $145,000. Stockminster also does not mention Mark Harris company(Appache Capital LLC) which paid him in the disclaimer. This is also against the law but I cant blame him since association with boiler room crook is never a positive for business. RainCity Marketing is a Canadian promoter. The RMCP will so be on there trail since Harris the boiler room crook most likely paid them to hide his tracts.
"StockMister.com has been Compensated Fifteen-Thousand Dollars Cash by a third party (RaincityMarketing) for a 2 Day Marketing Program of GENM. StockMister.com has been previously compensated a total of One-Hundred and Forty-Five Thousand Dollars Cash to perform 4 weeks of Marketing Services for GENM which have expired."
-----Original Message-----
From: StockMister <editor@stockmister.com>
To: xxxxxxxxxxxxxxxxxxxxxxxx
Sent: Wed, Feb 9, 2011 10:52 pm
Subject: Profiling a Past winner as a Day-Trade Play!
**You are receiving this as a Paid Advertisement for the Company Mentioned**
Good Evening,
Today I am going to once again profile a company that I first introduced to everyone about 3 weeks ago when it was trading at $.37 cents... This one went all the way to $.55 within 3 days after our profile for possible gains of 48%!! Now it has been trading like a seesaw during the weeks after I first profiled it having inter-day swings of 20-30%!! For some traders this is what they look for in Day-Trade Plays and by the recent activity we could see this one again make some moves tomorrow!! We are strictly profiling this one as a Day-Trade!! Hey our Day-Trade Play's have proven to be extremely successful in the past and let's see how this one swings tomorrow!! Alright so now that you have my 2 cents (non-professional opinion) about the activity and trading of this company let me tell you once again a little bit about it:
Genmed Holding Corp.
(Public, OTC:GENM)
Genmed Holding Corporation (Public, OTC: GENM) focuses on the delivery of low-cost generic medicines to distribution chains in Europe and in other countries. An international U.S. and Holland-based company, they distribute generic medicines that generally become available when the originator patents expire. In accordance with governmental pressures and new insurance policies, these medicines are consistently used as alternatives to higher-priced originator pharmaceuticals.
Their goal is to contribute to this industry in a positive manner, and driven by ambition and passion for the business, they hope to provide accessibility to less expensive and safer FDA and EMEA approved generic medicines within Europe and around the world. Furthermore, they hope to benefit the investors that they interact with by providing them the returns that they deserve.
In comparison to their competitor's, they have several competitive advantages:
One of the biggest advantages that Genmed has is that it has already undertaken the time-consuming steps necessary to acquire distribution licenses in Romania, Holland, the U.K., U.S., Germany, and Ireland.
As a result of obtaining the licenses, Genmed can initiate new licenses in the rest of the world.
The ability to sell directly to the distributor and to eliminate the wholesaler from the distribution process offers the following benefits:
Lower Production Cost
Lower Distribution Cost
Faster Delivery
The Production facility already adheres to the strictest worldwide standards for generic pharmaceutical production.
Currently, they are evaluating supply agreements with worldwide distributors. While the company has initially focused on OTC products, it is currently developing its strategy to move into the prescription drug market.
For more information, visit the company's website athttp://www.genmed.nl/index.php?option=com_frontpage&Itemid=1.
As Always: Our Number 1 Priority is to educate and help our members trading, so, PLEASE ONLY Invest what you can afford to lose!! Trading Stocks is risky and we 100% feel that if you can't lose your ENTIRE investment and still continue your normal life than DON'T play the Stock Market.
Having that said, don't forget our rules: PLAY SMART. LIMIT YOUR LOSSES (10% STOP) AND CASH IN ON YOUR GAINS (10%+ WITH 5% TRAILING STOP)
Disclaimer:
*Never invest in a stock mentioned by StockMister.com unless you can afford to lose your entire investment.
Release of Liability: Through use of this website viewing or using you agree to hold StockMister.com, its operators owners and employees harmless and to completely release them from any and all liability due to any and all loss (monetary or otherwise), damage (monetary or otherwise), or injury (monetary or otherwise) that you may suffer. The information contained herein is based on sources which we believe to be reliable but is not guaranteed by us as being accurate and does not purport to be a complete statement or summary of the available data. Please be advised that StockMister.com is often compensated for issuing press releases, profiles or opinions concerning particular companies, its opinion is therefore biased and you should consider the factor when evaluating StockMister.com's statements regarding a company. StockMister.com's officers and directors do not own any shares of the mentioned company(s). When StockMister.com receives free or restricted trading shares as a compensation for a profiled company, StockMister.com may sell part or all of such shares during the period in which StockMister.com is performing such services. StockMister.com will disclose how many and what type of shares we have been compensated if we do receive shares or buy shares of a profiled company. StockMister.com will also disclose any compensation. StockMister.com has been Compensated Fifteen-Thousand Dollars Cash by a third party (RaincityMarketing) for a 2 Day Marketing Program of GENM. StockMister.com has been previously compensated a total of One-Hundred and Forty-Five Thousand Dollars Cash to perform 4 weeks of Marketing Services for GENM which have expired.
We may be compensated more for future Marketing programs of GENM but no definitive arrangements have been made at this time.. This compensation/expected compensation, expired or not, is a major conflict of interest in our ability to be unbiased. Therefore, this newsletter should be read as a commercial advertisement only. The third party, company, or their affiliates may wish to liquidate shares, which has the potential to hurt share prices . Our emails may contain forword looking statements, which are not guaranteed to materialize due to a variety of factors. We do not guarantee the timeliness, accuracy, or completeness of the information on our site or in our newsletters. The information in our email newsletters and on our website is believed to be accurate and correct, but has not been independently verified and is not guaranteed to be correct. StockMister.com encourages readers and investors to supplement the information in this report with independent research and other professional advice. All information on featured companies is provided by the companies profiled, or is available from public sources and StockMister.com makes no representations, warranties or guarantees as to the accuracy or completeness of the disclosure by the profiled companies. StockMister.com, nor any of its affiliates are not registered investment advisors or a broker dealers. Please read our FULL Disclaimer at www.StockMister.com/disclaimer
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Secretary Galvin Files Against
Pump and Dump Operator
(On September 6, 2006)
EITEN Complaint (PDF, 1.8mb ) EITEN_complaint.pdf'>
http://www.sec.state.ma.us/sct/sctnat/EITEN_complaint.pdf
EITEN Exhibits (PDF, 12.2mb ) EITEN_exhibits.pdf'>
http://www.sec.state.ma.us/sct/sctnat/EITEN_exhibits.pdf
=================================================
Wednesday, September 6, 2006
Dover man charged in alleged "pump and dump" scheme
Massachusetts Secretary of State William F. Galvin today charged a Dover man with illegally promoting stocks at the same time he was selling them, known as a "pump and dump'' arrangement.
In a civil complaint Galvin's office seeks to recover proceeds it estimated at more than $4.5 million from GEOFFREY EITEN and his companies. The complaint charges EITEN offered investment advice through newsletters, emails and websites, but also was hired by companies as an investor relations consultant, and subscribers weren't told of his conflicts of interest.
(By Ross Kerber, Globe staff)
Posted by Boston Globe Business Team at 01:35 PM
Print | E-mail to a friend | Permalink | Subscribe via rss More news updates from The Boston Globe
Geoffery Eiten is IR for Gold Standard Mining. Why would they hire such a crook?
According to Pollack, more than four years ago, on Sept. 6, 2006, the Massachusetts Securities Division filed a complaint against an investor relations consultant, Geoffrey EITEN, that accused him of running a "pump-and-dump" scheme involving several companies, including LocatePlus. Pollack stated that the federal government cannot claim and has not claimed that the two employees now charged ever benefited financially from Eiten's alleged schemes. Yet the federal government has refrained from any significant public action against EITEN himself, Pollack said.
"The Office of the Inspector General of the Department of Justice is separately inquiring into relationships between LocatePlus constituents and one or more individuals who have served as government officials, which may have tainted the investigation," Pollack said.
For example, Pollack said that following the departure of the former LocatePlus employees who now face charges, LocatePlus responded to the investigation without making any public disclosures about it until filing an 8-K with the SEC on Oct. 15, 2010, which stated that LocatePlus conducted an internal investigation “led by a retired former senior federal law enforcement official who previously had responsibility for corporate fraud matters nationally.”
Pollack added, "A thorough exploration into the unusual delays in the investigation and relationships between LocatePlus and the government is expected to paint a far different picture than what appears in the new claims."
On its website, LocatePLUS bills itself as the "industry leader in providing online investigative solutions to law enforcement, legal and insurance professionals, licensed investigators, and other related businesses."
According to published reports, the company in 2004 provided Blackberry wireless devices to state police at Logan International Airport, which the officers could use to access the LocatePlus database. At the time, the database contained more than 6 billion records and had data on 98 percent of the U.S. population, though the records did not include state and federal criminal justice databases or terrorist watch lists, reported the Associated Press.
=======================================
Marblehead man implicated in securites-fraud scheme
Marblehead Reporter
Posted Nov 10, 2010 @ 05:58 PM
Last update Nov 10, 2010 @ 08:13 PM
Marblehead — A Marblehead man and a former co-worker were charged today in federal court with various securities offenses arising from a scheme that allegedly involved the theft of the identity of a young man who drowned in Marblehead Harbor in 1985, among other tactics.
Jon Latorella, 47, of Marblehead, and James Fields, 43, of Brookline, were charged in an indictment with securities fraud, false statements to company auditors, false statements to the U.S. Securities and Exchange Commission, false certifications as the CEO and CFO of a publicly traded company, aggravated identity theft and engaging in unlawful financial transactions related to their management of Locateplus Holdings Corporation Inc., a Beverly-based corporation that provides access to public real estate, telephone and other records.
Latorella founded LocatePlus and became president, CEO and chairman of its board in 2002, according to the indictment. He resigned as president and CEO of LocatePlus in March 2007.
Fields was hired in LocatePlus’ finance department in 2002. In March 2003, he was named acting CFO and became CEO in May 2007, holding the position until 2009.
The indictment alleges that, starting in about 2002, Latorella, the former president and CEO of Locateplus, and Fields, the former CFO and later acting CEO of the company, engaged in several fraudulent schemes intended to artificially inflate the revenues of Locateplus, including falsifying loan documents to make it appear that a fictional entity owed Locateplus over $1 million; falsifying revenue streams to make it appear that an outside entity was paying Locateplus under the terms of a contract, when in fact the money came from Locateplus itself and other sources; deceiving the SEC to avoid having to register securities being sold by a company Latorella and Fields helped set up; using the identity of a young man who drowned in Marblehead Harbor in 1985 to fabricate both a business executive who purportedly did business with Locateplus and an investor in a company Latorella and Fields controlled; and routinely deceiving company auditors, and the SEC, to extend the fraudulent schemes and attract investment in Locateplus.
Fields' attorney Barry S. Pollack of Sullivan & Worcester LLP in Boston noted that the governments claims against his client depend on events that happened more than five years ago and called the ensuing investigation "flawed."
"These federal claims ignore or confuse roles of several others who actually guided pertinent securities and investor relations matters," he said in a statement released Wednesday evening.
According to Pollack, more than four years ago, on Sept. 6, 2006, the Massachusetts Securities Division filed a complaint against an investor relations consultant, Geoffrey EITEN, that accused him of running a "pump-and-dump" scheme involving several companies, including LocatePlus. Pollack stated that the federal government cannot claim and has not claimed that the two employees now charged ever benefited financially from Eiten's alleged schemes. Yet the federal government has refrained from any significant public action against EITEN himself, Pollack said.
"The Office of the Inspector General of the Department of Justice is separately inquiring into relationships between LocatePlus constituents and one or more individuals who have served as government officials, which may have tainted the investigation," Pollack said.
For example, Pollack said that following the departure of the former LocatePlus employees who now face charges, LocatePlus responded to the investigation without making any public disclosures about it until filing an 8-K with the SEC on Oct. 15, 2010, which stated that LocatePlus conducted an internal investigation “led by a retired former senior federal law enforcement official who previously had responsibility for corporate fraud matters nationally.”
Pollack added, "A thorough exploration into the unusual delays in the investigation and relationships between LocatePlus and the government is expected to paint a far different picture than what appears in the new claims."
On its website, LocatePLUS bills itself as the "industry leader in providing online investigative solutions to law enforcement, legal and insurance professionals, licensed investigators, and other related businesses."
According to published reports, the company in 2004 provided Blackberry wireless devices to state police at Logan International Airport, which the officers could use to access the LocatePlus database. At the time, the database contained more than 6 billion records and had data on 98 percent of the U.S. population, though the records did not include state and federal criminal justice databases or terrorist watch lists, reported the Associated Press.
If convicted on these charges, Latorella and Fields face up to 20 years of imprisonment on the securities-law violations charged in the indictment, as well as up to five years for conspiracy, up to 10 years for engaging in unlawful financial transactions and, as to the charge of aggravated identity theft, a minimum of two years imprisonment on and after any other sentence the defendants receive. The defendants would also be subject to up to three years of supervised release and a fine of up to $150,000. The government would also seek restitution for victims of the offenses in the indictment.
United States Attorney Carmen M. Ortiz, William Offord, Special Agent in Charge of the Internal Revenue Service’s Criminal Investigation in Boston and Richard DesLauriers, Special Agent in Charge of the Federal Bureau of Investigation - Boston Field Division made the announcement Wednesday.
The case is being prosecuted by Assistant U.S. Attorney Andrew E. Lelling of Ortiz’s Economic Crimes Unit. During the investigation, the United States Attorney’s Office said it received valuable assistance from the U.S. Securities and Exchange Commission.
The details contained in the indictment are allegations, the U.S. Attorney's Office noted. The defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.
Copyright 2010 Marblehead Reporter. Some rights reserved
A real company is not promoted by offshore Boiler Room Conmen and scam artists to pump their stock. Mark Harris should be in jail.
What a Con http://www.pennystockprophet-thetruth.org/how-to-invest/
He is going to make people millionaires by touting pennnystocks stocks to hapless investors for huge fees from some unknown third party.
A confidence trick or confidence game (also known as a bunko, con, flim flam, gaffle, grift, hustle, scam, scheme, swindle or bamboozle) is an attempt to defraud a person or group by gaining their confidence. The victim is known as the mark, the trickster is called a confidence man, con man, confidence trickster, grifter, or con artist, and any accomplices are known as plants. Confidence men or women exploit characteristics of the human psyche such as greed, both dishonesty and honesty, vanity, compassion, credulity, irresponsibility, naïveté, and the thought of trying to get something of value for nothing or for something far less valuable. Confidence men or women have victimized individuals from all walks of life.
Regis Possino is involved with Mark Harris once again http://investorshub.advfn.com/boards/read_msg.aspx?message_id=59612158
GENM has the smell of a Possino stock.
I expect rge SEC wagons to b=e circling Mark Harris very soon.
Makes sence why Boiler Room Crook was promoting SENZ. Harris has ties with Regis Possino going back many years. Year is a story about Cohiba Partners who was accused of manipulating SENZ shares. As usual the SEC continues to look the other way.
---------------------------------------------------------
Online music company has silent partner
by JUSTIN MCLACHLAN with CHRIS CAREY
When Pure Play Music Ltd. (Pink Sheets; PPML.PK) went public through a reverse merger last summer, one of its financial backers managed to turn a $291,000 loan into Pure Play stock with a current market value of $14.5 million.
Though Pure Play's Securities and Exchange Commission filings don't disclose the identity of the party or parties that got those shares, documents do provide some clues. In 2007, Pure Play's predecessor company -- Latin Television Inc. -- was on the verge of collapse. It had no revenue, almost no cash and more than $4 million in accumulated losses.
It turned to Cohiba Partners Inc., securing what it called "essential" funds to cover operating expenses. Cohiba Partners is a Santa Monica, Calif., company with close ties to Regis M. Possino, a two-time felon and disbarred attorney who has provided financing to numerous penny stock companies.
LOAN REPAID WITH SHARES
In return for the cash advances, Latin Television issued Cohiba a note that the company, or its assignees, could convert into stock at a penny a share. When Latin Television morphed into Pure Play last July, Cohiba Partners converted the roughly $291,000 in principal and interest on the note into 29.1 million shares of Pure Play stock.
Not long afterward, Pure Play's stock was trading at around $2.50, giving the converted shares a market value of more than $70 million, and giving the entire business a value of nearly $150 million.
Pure Play's stock has since fallen to 50 cents, with total trading volume exceeding 2 million shares. Neither the company, Cohiba Partners or any assignees have filed documents disclosing who holds the 29.1 million shares from the debt conversion, which amount to 49 percent of the company's outstanding common stock.
THE COMPANY
Pure Play says it provides a unique global platform that unknown bands and singers can use promote and sell their music. Its site includes streaming audio of featured acts, six genre-based Internet radio stations and a download purchase area. Pure Play also created a social networking area designed to allow fans to communicate with the musicians and with each other.
As of late, there's been little activity on Pure Play's Web site. Although they say more than 6,000 people registered for the site, those members trigger just a handful of publicly posted "actions" every few days. Pure Play's radio stations, the main way that Web visitors listen to its unsigned artists, appear in most cases to have just a few dozen songs. Artists have posted comments to the site, complaining that their profiles and music have disappeared, inaccessible for months. The last message board posting was from January.
Pure Play said late last year it had signed a deal to provide pre-loaded MP3 players to DSG International, a large electronics retailer in Europe. It said in press releases that those shipments would generate $18 million in revenue this year. But Pure Play is two quarters behind in its financial filings with the SEC, making it impossible to tell anything about its sales or profits. DSG didn't respond to questions from Sharesleuth about the deal.
THE PAPER TRAIL
No public records link Cohiba Partners or Pure Play directly to Possino. But corporation filings show that Cohiba Partners and three other companies headed by its president, Colin Nix, have the same address as three companies controlled by Possino or his wife.
Those filings show that Nix and Possino both were officers of one of those businesses, Geneva Equities Ltd. Cohiba Partners and Geneva Equities also have the same phone number.
Corporation records list Nix as president of European American Investments Ltd., another company that shares the Santa Monica address with Cohiba Partners and Geneva Equities. SEC filings show that all three of those entities were large shareholders in Who's Your Daddy Inc. (OTCBB: WYDI.OB), a San Diego energy-drink company whose founder and former chief executive, Edon Moyal, was recently arrested and charged in connection with a drug-trafficking ring.
(read about Moyal's arrest)
A CHANGE OF ADDRESS
Until recently, Pure Play's SEC filings listed the Santa Monica office suite as its address. The company said in a press release in late April that it had moved its headquarters to Poway, Calif., a suburb of San Diego. The new location is a house owned Alex J. Grange, its chief executive officer.
Pure Play also announced that it terminated all of its agreements with Cohiba Partners, which had been providing general consulting and investment banking services.
Jeffrey P. Berg, a lawyer who represents Pure Play, said last week he wouldn't allow his clients to be interviewed by Sharesleuth but asked for a list of written questions. He didn't respond to them.
STOCK PROMOTIONS
Sharesleuth noted that Cohiba Partners and European American Investments both paid stock-promotion sites to feature specific companies, including Latin Television.
European American Investments gave 225,000 shares of Latin Television's stock to a firm called Beacon Equity Research in 2007 as compensation for a research report and a public relations campaign, according to a disclosure in a Beacon press release.
Cohiba Partners and European American Investments each gave shares of Vsurance Inc. to a site called OTCPicks.com as compensation for its coverage of that company, now known as Ensurapet Inc. (Pink Sheets: EPTI.PK).
SEC filings show that Cohiba Partners was a large shareholder in Vsurance at the time. So were October Fund Ltd. -- another company headed by Nix -- and Rancho Malibu Inc., which had been headed by Possino but now lists his wife as president.
October Fund and Rancho Malibu also list their address as the Santa Monica office suite. Records show that Geneva Equities originally leased that 1,056-square foot space in 2002.
POSSINO'S PAST
Possino was convicted in 1995 of one court of wire fraud in connection with a scheme to use inflated stock to help prop up an insurance company's finances. According to court documents, he was sentenced to two years probation and ordered to pay a $500 fine.
Possino more recently has served as a consultant and financier for a number of obscure public companies. According to news reports and regulatory documents (pdf), shares of some of them were peddled to foreign investors by boiler-room style brokerages operating from Europe and Asia. This archived web page of one boiler room brokerage, General Commerce Bank AG of Austria, shows that it was promoting two companies, Thaon Inc., and Junum Inc., with ties to Possino.
Possino also figured into an investigation by the Nasdaq exchange of Global Capital Securities Corp. Nasdaq officials concluded in 2001 (pdf) that Possino and another convicted felon, Sherman Mazur, had acquired a substantial, undisclosed interest in Global Capital, a publicly traded brokerage firm. Nasdaq said that Global Capital also bought millions of dollars worth of stock in companies that listed Possino or members of Mazur's family among their largest shareholders.
Nasdaq delisted Global Capital's shares in December 2001 over concerns about its ties to Possino, Mazur and others with criminal or regulatory pasts. The company ceased operations a few months later.
« May 2009 | Main Index | Archives | July 2009 »
A little more info about the CROOK that is promoting SENZ:
Stock promoter's divorce reveals life of luxury
David Baines
Vancouver Sun
Saturday, May 13, 2006
From 1986 to 1997, Vancouver businessman Mark Harris worked in phone rooms that used high-pressure methods to sell stocks, most of dubious value, to people all over the world.
For more than a decade, Vancouver businessman Mark Harris made a fortune running boiler rooms -- high-pressure telephone stock sales operations -- in Europe and Asia. Unfortunately for his net worth, his wife Lori made a career out of spending it.
From 1986 to 1997, Harris worked in phone rooms that used high-pressure methods to sell stocks, most of dubious value, to people all over the world. Initially, he manned the phones himself, but eventually became involved in setting up and overseeing the sales operations.
For various reasons, some of them regulatory, he moved often -- from Spain to Hong Kong, Macau, back to Hong Kong, then to the Philippines, California and finally Vancouver. Throughout most of this period, he worked closely with Bryant Cragun, owner of a boiler room operation that was rather grandly called Oxford International Management.
Wherever he went, Lori followed. It was a nomadic existence, but it had its rewards. In his peak earning years, he made more than $500,000 US a year.
Neither of them was shy about spending it. They employed a maid, a gardener, a chauffeur, even a dog-walker. Every year, for Lori's birthday, they went to Italy. During the beach season, they spent weekends on Boracay Island, about 90 minutes from Manila.
Aside from the occasional modelling job, Lori Harris did not work. She took Spanish lessons, she played tennis, she flew to Hong Kong to have her hair done. But mostly she shopped.
She bought Versace, Dolce & Gabbana and other expensive designer clothes. When her credit card at Saks Fifth Avenue exceeded her limit, she simply opened another account and purchased an $8,000 full-length mink coat. She shopped so much that she hired a personal shopper to help her.
In 1995, the couple began construction of a mansion on an acre of land in Osoyoos. The project, originally budgeted at 3,000 square feet and $500,000, ballooned to 6,000 square feet and $3 million, including an outdoor dining area modelled after the Four Seasons Resort in Bali and five Versace carpets costing more than $100,000.
In 1997, Harris returned to Vancouver to provide investor relations services for many of the same companies he had been selling by phone. Business was initially good, but by 2000, the market had collapsed. His income was decimated and his marriage in a shambles. In 2002 they separated.
Unable to agree on a division of assets, the couple went to court. In a 10-day trial earlier this year, and in a 14-page decision released just days ago, their private lives were laid bare, providing unique insight into the controversial and lucrative business of boiler room operators.
Not mentioned are the people who bought stock from Harris's telemarketers. According to newspaper accounts, court records and securities filings, many of them lost substantial amounts of money.
One was Guy Fletchere-Davies, a 62-year-old carpet manufacturer in Melbourne, Australia. He told the Wall Street Journal in August 2000 that he bought shares of ZiaSun Technologies Inc., which traded on the dreadful OTC Bulletin Board in the U.S., and several other junior stocks, from the Manila office of Oxford International Management, where Harris ran the telemarketing operation.
Fletchere-Davies said his brokerage account was passed around among several Oxford salespeople, then to a successor firm. In late 1999, "the phone calls stopped and the paperwork dried up." ZiaSun collapsed and he lost $150,000.
By this time, Harris had left Oxford and at Cragun's behest he had set up an investor relations business, Veritas Marketing & Communications Group Ltd., with offices in Vancouver and Solana Beach, Calif., to help promote ZiaSun and other stocks that Oxford was selling.
Oxford and Veritas have since shut down and Cragun has reportedly retired, but Harris continues to provide investor relations services through a private firm, Skylla Capital Corp., which operates out of a corner office in Park Place in downtown Vancouver.
Skylla is the grotesque six-headed monster in Greek mythology that swooped down on passing ships and sea creatures, but Harris denies that any of his business activities have been predatory: "Every company I have been associated with was fully registered and all the companies we recommended were legitimate," he said in an interview this week.
n
Harris is now 49, but his boyish good looks make him appear much younger. He dresses and speaks in a casual but calculated way. His cell phone rings incessantly. For the most part, he ignores the calls to focus on a Vancouver Sun reporter who, uninvited and unannounced, has dropped into his office.
According to the divorce action, Harris was born and raised in Calgary. He dropped out of school in Grade 11 and worked at a steel mill, as a truck driver, at McDonald's, and as a car salesman.
In 1986, he met and married Lori, seven years his junior. He began training as a stock broker, then a friend offered him a job with a firm called Indigo Investments in Torremolinos, Spain.
"He immediately began work as a telemarketer persuading prospective clients to purchase stock in companies," Judge Linda Loo noted in her judgment.
It was clear that he had an aptitude for the job. He made $5,000 in his first month. The following year, he got a better job as "telemarketing sales manager" for a firm called Equity Management Services in Marbella, Spain. It paid $10,000 per month plus a percentage of the business that the phone room generated.
However, the judge noted, "the job ended abruptly after about a year when the payroll failed to materialize." Harris told The Sun he's "not 100 per cent sure why it shut down." But in the fluid world of boiler rooms, such businesses disappear and reappear with alarming frequency and speed. In this instance, the phone team was offered similar work in Hong Kong starting the following week.
Within five months, Harris was back making $10,000 per month, but once again, the job suddenly ended, this time when the Hong Kong Securities and Exchange Commission intervened. Why the commission intervened is not explained.
Harris found work in a similar operation in Macau, but the couple found the living and working conditions unagreeable, so they decided to use their savings to travel throughout Europe and Asia.
In 1990, Harris returned to Hong Kong and teamed with Bryant Cragun, a former senior vice-president with Goldman Sachs, in another telemarketing operation. Within months, however, Hong Kong regulators once again stepped in and the phone room was shut down. Once again, no reason is given. Harris told The Sun that, to meet capital requirements, the firm had posted shares of an OTC Bulletin Board company rather than a Nasdaq company, and the authorities refused to accept them.
The following year, in April 1991, Cragun established another telemarketing business in the Philippines, Oxford International Management, which styled itself as a "U.S. equity fund manager." He hired Harris to manage the phone room, with huge success.
Within four months, Harris was making $10,000 US per month, plus a percentage of sales. By 1993, the firm had grown to 50 employees and he was making more than $250,000 US per year. By 1995, the firm had offices in Spain, Brussels, Taipei, Indonesia and Bangkok, and he was making $500,000 US annually.
Life was good. The couple travelled extensively. Each Christmas they stayed at the Four Seasons Hotel in Bali. During the summer, they spent weekends on Boracay Beach, where Harris invested $200,000 in an aquasports business which provided them with boats and jet skis, but generated nothing in the way of profits. They also invested $85,000 in an Indian cuisine restaurant in nearby Subic Bay.
Lori was, by all accounts, an excellent hostess. She entertained Harris's business colleagues at Boracay Beach and helped arrange Oxford's annual Christmas party, which was attended by up to 400 guests. She also attended dinner meetings with Mark's clients and prospective clients.
"He considered his wife an asset because together, they were an attractive, well-dressed couple," Loo noted. But other than spending money, the judge said, "she took almost no interest in her husband's work or their finances."
In an interview this week, Lori Harris said she understood her husband was involved in "venture capital," but didn't know any details. "I knew it was telemarketing, but I didn't know the stocks or the names of the companies he was promoting," she said.
n
Oxford had a stable of junior companies that it organized, financed and promoted to retail investors. Among them were ZiaSun Technologies Inc. and Chequemate International Inc.
Both were listed on the OTC Bulletin Board, a trading forum that is virtually unregulated. In fact, prior to 1999, bulletin board companies didn't even have to issue financial statements.
ZiaSun and Chequemate financed their businesses by selling large blocks of stocks to foreign purchasers under a U.S. securities rule known as Regulation S.
Under this rule, issuers can avoid going through the onerous process of a registered stock offering by placing the shares with "accredited investors" outside the country. The condition is that these shares cannot be sold back to U.S. investors for at least a year.
Cragun, as an officer and director of ZiaSun and Chequemate, arranged for these companies to sell large blocks of unregistered stock to Oxford and related boiler rooms, which marked up the share price and hyped them to investors in foreign jurisdictions.
Problem was, neither Oxford nor its employees were registered to sell stock in Ireland, Switzerland, Australia or any of the others countries where the purchasers were located. Also, the companies were long on puffery and short on substance, which made them exceedingly risky investments.
According to a June 2002 article in the St. Louis Post-Dispatch, one of Oxford's clients was Australian rancher Wally Peart. Starting in 1994, he bought seven stocks from Oxford, including Chequemate, for a total investment of $130,000 US. Little did he know, but all of the companies had close ties to Cragun and associates.
Peart told the newspaper that, on Oxford's advice, he never sold any of the shares, ostensibly to maximize long-term gains. "Everything seemed to work OK, and they often invited me to visit them in Manila," Peart is quoted as saying. "However, in 1999, it all folded and my retirement fund disappeared."
Harris rejects the characterization of Oxford as a "boiler room." He said the firm made sure it was licensed in every jurisdiction in which it sold stock. However, when asked if the firm was licensed to sell stock to Australian investors such as Peart, he replied: "I can't answer that question. I don't know exactly."
He also said the companies that Oxford recommended were all legitimate companies and a lot of Oxford clients made money. "I bought IBM and lost a lot of money on it. It's all based on timing," he said.
He also said neither he nor Cragun have ever been accused of wrong-doing. Cragun told the Wall Street Journal that the U.S. Securities and Exchange Commission spent five years investigating his role in selling Regulation S shares overseas and it "never filed anything against me."
n
A large chunk of money supplied by investors like Peart found its way back to B.C.
The Harris's bought the acre of land in Osoyoos and began constructing their mansion. It had seven bathrooms and marble tiling throughout, even in the mechanical and laundry rooms.
They paid $35,000 for chandeliers, $40,000 for a wrought iron staircase and $25,000 for a desk for Mark's home office. In all, they spent $225,000 on furnishings. The total cost was more than $3 million. "It is the most expensive house in Osoyoos," the judge observed.
But the gravy train was coming to a halt. By 1996, Oxford had over 10,000 clients, but according to Loo, the stock market had turned and Harris "was forced to deal with unhappy investors."
Cragun opened an investment banking business in San Diego and invited Harris to join him. In October 1997, Mark and Lori moved to Del Mar, just outside San Diego, and rented a 3,200-square-foot ocean-view home for $4,750 a month. They also bought a Porsche 911 for $96,000 US and a 540 BMW for $65,000 US.
Within a few months, Cragun decided he wanted Harris to help him support the public companies that he was promoting. So Harris incorporated Veritas Marketing & Communications with offices in Vancouver and Solana Beach, Calif. He commuted back and forth, spending Tuesdays to Friday in Vancouver, and Saturday to Monday in Del Mar.
Veritas provided investor relations services for several companies, including ZiaSun. At its peak, it had 20 employees, but it was not a lucrative enterprise. Harris was paid in shares, which initially soared in value, but by the time they became free-trading, the share price had collapsed. ZiaSun, for example, rose to $30, but plunged to 30 cents by the time they were cleared for trading.
In 2001, Harris's total income slumped to $10,000, but Lori could not adjust to this new financial reality. As Judge Loo remarked: "Her passion for high-end designer fashions continued undeterred." Among the items she bought, over her husband's objections, was an $8,000 full-length mink coat from Saks. The following month, in September 2002, they separated.
"There is no doubt that Ms. Harris has a clothes-buying habit," the judge observed.
n
Since their separation, Lori has been living in the Osoyoos mansion, but Judge Loo has ordered that it be sold and net proceeds divided between them. She also ordered Mark to pay $150,000 spousal support in two equal instalments in January 2007 and January 2008.
It is not clear what Lori will do. "Mr. Harris has suggested avenues Ms. Harris might explore, such as being a veterinary assistant, because she loves animals, or being a personal shopper, because she has exquisite taste and enjoys interacting with people," Loo noted.
However, she added, Lori "has taken no real steps towards finding work or training because she claims she is too emotionally distraught...."
In 2003, Mark returned to Marbella, Spain, to set up offices for another telemarketing firm called Global Capital Asset Advisors. At about the same time, he began a common-law relationship with Jonni-Colleen Sissons, then a broker with IPO Capital Corp.
In January 2004, Sissons gave birth to their son in Malaga, Spain, and they have since returned to Vancouver. Sissons is now registered with Northern Securities and Mark is pursing his investors relations business through Skylla Capital.
He refuses to say who his clients are: "I have been advised by my lawyer not to say anything further to you."
dbaines@png.canwest.com
© The Vancouver Sun 2006
Offshore Boiler Room operator Mark Harris promoting SENZ. Beware of this crook. When crooks pay someone 60 grand to promote a stock run, run as fast as you can. Mark Harris owns Apache Capital LLC
"NewsworthyStocks.com has been compensated Sixty-Thousand Dollars Cash by a third party (Apache Capital, LLC) for a 6 Day Awareness E-mail Marketing/Advertising Campaign of SENZ. NewsworthyStocks.com has been previously compensated Sixty-Five Thousand Dollars Cash by a third party (Apache Capital, LLC) for a 3 Day Awareness E-mail Marketing/Advertising Campaign of SENZ which has expired. NewsworthyStocks.com could potentially be compensated more for providing investor relations services regarding SENZ in the future, although n agreements have been made at this time. This compensation or expected compensation, expired or not, is a major conflict of interest in our ability to be unbiased"
http://stocknewsalerts.net/newsletter/our-vip-pick-jumps-over-20-and-finished-day-18
Arizona Corporation Commission
12/05/2010 State of Arizona Public Access System 10:52 AM
Jump To... Scanned Documents
Corporate Inquiry
File Number: L-1545934-4
Corp. Name: APACHE CAPITAL, LLC
Domestic Address 9999 E SUNDANCE TRL
SCOTTSDALE, AZ 85252
Statutory Agent Information Agent Name: MARLA NEELY
Agent Mailing/Physical Address:
% TREESTONE ACCOUNTING GROUP L
17787 N PERIMETER DR STE A101
SCOTTSDALE, AZ 85252
Agent Status: APPOINTED 08/14/2009
Agent Last Updated: 09/21/2009
Additional Corporate Information Corporation Type: DOMESTIC L.L.C. Business Type:
Incorporation Date: 08/14/2009 Corporate Life Period: PERPETUAL
Domicile: ARIZONA County: MARICOPA
Approval Date: 08/18/2009 Original Publish Date: 08/31/2009
Manager/Member Information MARK A HARRIS
MANAGER
9999 E SUNDANCE TRL
SCOTTSDALE,AZ 85252
Date of Taking Office: 08/14/2009
Last Updated: 08/18/2009
JONNI-COLEEN SISSONS
MEMBER
9999 E SUNDANCE TRL
SCOTTSDALE,AZ 85252
Date of Taking Office: 08/14/2009
Last Updated: 08/18/2009
Scanned Documents
(Click on gray button to view document - will open in a new window)
Document Number Description Date Received
ARTICLES OF ORGANIZATION 08/14/2009
PUB OF ARTICLES OF ORGANIZATION 08/31/2009
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Corporate Name Search Instructions
General Web Site Usage Instructions
Return to STARPAS Main Menu
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DONT BUY GENM JUNK. BEING PROMTED BY SERIAL CON MAN MARK HARRIS THE OFFSHORE BOILER ROOM GUY.
AVOID MARK HARRIS LINK YOU WOULD AVOID THE CLAPP OF HERPIES
BUYER BEWARE!!
BILB rec. 01/31/11 via email from Andrew Carpenter - Editor, Carpenter Global Stock Advisory
"Aquiline has received and managed a total production budget of $152,500 and 20,000 free trading shares of BILB from a non-affiliate shareholder for advertising efforts and will retain any amounts over and above the cost of production, copywriting services, mailing and other distribution expenses, as a fee for its services."
http://bilbreport.com/index.html
Mark Harris ran offshore boiler rooms in Spain also:
----------------------------------------------
Genmed Seeks Licensing for First Expansion Country
2011-01-31 09:00 ET - News Release
AMSTERDAM -- (Business Wire)
Genmed Holding Corp. (OTCBB: GENM) is preparing to apply for a marketing and distribution license within the country of Spain for the generic drug Paracetamol, otherwise known as Acetaminophen. The filing is expected to be completed by the end of February and shall mark the first expansion country for which Genmed will seek licensure since obtaining its seven licenses for the countries of Netherlands, Belgium, Luxemburg, Ireland, United Kingdom, Germany, and France.
GenMed Chief Executive Officer, Erwin Bouwens commented on the Company’s upcoming filing by saying, “We are extremely excited to announce Spain as our first expansion country. Genmed is continuing to execute on its plan to obtain more licenses within the European Union and elsewhere. The licenses are extremely valuable and allow us to pursue large multinational distribution partners without forgoing the opportunity to service their needs in countries where they have operations.”
About Genmed Holding Corp.
Genmed Holding Corp. is a United States and Dutch based company focusing on the delivery of low cost generic pharmaceutical drugs directly to distribution channels throughout the world. The Company began its generic drug business in 2008 and today operates primarily through its 100% owned subsidiary Genmed B.V., which is registered in the Netherlands. The Company is led by an experienced management team and board who have considerable and highly relevant experience in product development, registration, sales, marketing, distribution, operations, and financial administration.
For Additional Information, Go to the Website: www.genmed.nl
This press release contains certain "forward-looking statements" within the meaning of federal securities laws including the use of the words "expect," "anticipate," "estimate," "project," "forecast," "outlook," "target," "objective," "plan," "goal," "pursue," "on track," and similar expressions. Although the Company believes that the statements were reasonable when made, these forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance, or achievements of the company to be different from those expressed or implied. The Company assumes no obligation and does not intend to update these forward-looking statements. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements include, without limitation: competitive and general economic conditions, adverse effects of litigation, the timely development and acceptance of our products and services, significant changes in the competitive environment, the failure to generate or the loss of significant numbers of customers, the loss of senior management or increased government regulation.
Contacts:
Genmed Holding Corp.
Randy Hibma, 031 793 630 129
info@genmed.nl
Source: Genmed Holding Corp.
Wallstreet Grand hires scumbag RAFAEL PEREIRA to promote this turd. Pereira owns multi web touting web sites Here is one of them. Pereire has no shame. Recently he accepted thousands an thousands of dollars from a well known offshore boiler room crook Mark Harris. Beware of this crook or be prepared to lose your entire investment from this well know rope-a-doper
One time email marketing and advertising contract indeed!!
365newsmedia.com will also disclose any compensation. 365newsmedia.com has been compensated One-Thousand Five-Hundred Dollars Cash by a third party (Wall Street Grand, LLC) for a 1 Time e-mail Marketing and Advertising Contract of MFTH .
-----Original Message-----
From: 365 News Media <editor@365newsmedia.com>
To: xxxxxxxxxxxxxxxxxxxx
Sent: Mon, Jan 24, 2011 1:21 am
Subject: New 365 Play to start the week!
"The Following is a Paid Newsletter Advertisement. Please read disclaimer at the bottom for details"
Good Evening Traders!!!
I hope everyone had a great weekend!!! This week we are starting Monday with a brand new profiled company... This one has seen some activity during the last couple of weeks and has moved fairly quickly on day's of heavier volume. So let me introduce you to Monday's Featured Profile:
Medisafe 1 Technologies (Public, OTC: MFTH) is seeking to effectively prevent the unauthorized administration of a drug or medicinal substance by hypodermic needle. Medisafe's patented technology is a medical assembly with a locking mechanism that is intended to ensure the substance cannot be released from the hypodermic needle without positive pre-matching between the substance and its intended patient. Founded in July 2009, Medisafe is a development stage company focusing on the development and sale of medical assemblies and protectors. The company has licensed the technology and received a patent for a medical assembly and protector. The principle features of the design include the protector which fits over a proportion of the medicine assembly, the protector which includes a bar code and locking element, an electrically operated device to control the locking element, and a connection to a bar code reader.
Vision
Medisafe's product is the first U.S. Patented Technology that focuses on eliminating the administration of incorrect medicinal substances by Hypodermic Needle.
Their goal is:
"Administering the Right Drug with the Right Dose to the Right Patient At the Right Time"
Product
protector device with locking mechanism that ensures that the substance is only released from the hypodermic needle after positive technology-based pre-matching with the specific patient, using barcode technology
Direct annual cost of preventable drug related mortality & morbidity $177.4 billion
Annual potential market in the U.S.could be $1.4 billion
For more information, visit the company website at http://www.medisafe1.com/home.html.
Symbol
Price
Change
MFTH.OB
0.3050
+0.0050
The State of Israel's Nationwide Blood Banks Commence Discussions to Adopt Medisafe 1 Technologies Corporation's Pre-Matching Drug Safety Administration Technology
JERUSALEM, January 18, 2011 /PRNewswire-FirstCall/ -- Medisafe 1 Technologies Corp. (OTCBB:MFTH.ob - News), a developer of patented technologies that physically prevent unauthorized administration of prescription medications, announced today that the company has initiated discussions to implement the company's safety pre-matching locking device technology for blood transfusion vials with Israel's national Emergency Medical Services Provider who oversea the entire Nation's Blood Banks.
Discussions are with Israel's Magen David Adom, or Red Shield of David. This organization is the international equivalent of the Red Cross or Red Crescent and Magen David Adom are responsible for and overlook all of the national blood banks that provide blood to Israeli hospitals and other Medical Clinics in Israel.
Discussions are to focus on implementing Medisafe 1 Technology's patented pre-matching safety locking device on blood bags and vials. Using the technology, a barcode reader would need to electronically confirm that a particular patient was being administered the appropriate and correct blood type prior to the release of the blood from the vial.
"Improper infusion of blood caused by human error is an avoidable cause of death," said, Jacob Elhadad, CEO of Medisafe 1 Technologies. "Applying the concepts behind our patented pre-matching safety locking device technology to infusion bags, and blood vials can contribute to a reduction in the number of preventable deaths in hospitals."
"We are hopeful that the future implementation of the technology in Israel Blood Banks if approved can lead to its implementation in other countries. We have similarly initiated discussions with blood banks in the U nited States."
Medisafe 1 Technologies has already developed its locking device technology for syringes in hospitals. It is estimated that the application of the technology for infusion bags will be ready for demonstration within three months time.
Medisafe 1 Technologies Receives Endorsement for National Implementation From Israel's Pharmaceuticals Administration
JERUSALEM, January 10, 2011 /PRNewswire-FirstCall/ -- Medisafe 1 Technologies Corp. (OTCBB:MFTH.ob - News), a developer of patented technologies that physically prevent unauthorized administration of prescription medications, announced today that the company has received endorsement for the national implementation of its barcoded syringe locking device, from Israel's Pharmaceuticals Administration.
The endorsement was received as the final of a series of meetings with Health Ministry officials. The latest meeting was conducted with the Chief Technical Officer of Israel's Pharmaceuticals Administration.
The previous meeting was held with Directors of Israel's Health Ministry including Deputy Minister Yaakov Litzman. The Health Ministry portfolio is officially held by Prime Minister Benjamin Netanyahu.
Members of the Pharmaceuticals Administration were particularly pleased with the lifesaving benefits of the syringe-locking device, as well as the locking device's ability to reduce theft by individuals wishing to intentionally use or sell prescription medications.
Following official endorsement, Medisafe 1 Technologies has been in discussion with a leading Israeli pharmaceuticals company to partner in streamlining the production process the introduction of the device at Israeli Medical Centers.
The pharmaceuticals company also expressed interest in advancing the development of Medisafe 1 Technologies' proposed locking-device for blood transfusion bags.
"Officials across Israel's health system have been duly impressed with the potential of our locking devices to reduce hospital injuries and save lives, thus reducing the legal and insurance related costs associated with running hospitals," said, Jacob Elhadad, CEO of Medisafe 1 Technologies.
"We are now in serious discussions with the companies that will aid us toward full commercialization of our products."
As Always: Our Number 1 Priority is to educate and help our members trading, so, PLEASE ONLY Invest what you can afford to lose!! Trading Stocks is risky and we 100% feel that if you can't lose your ENTIRE investment and still continue your normal life than DON'T play the Stock Market.
Having that said, don't forget our rules: PLAY SMART. LIMIT YOUR LOSSES (10% STOP) AND CASH IN ON YOUR GAINS (10%+ WITH 5% TRAILING STOP)
Thank you,
The 365 News Media Team
Disclaimer:
*Never invest in a stock mentioned by 365newsmedia.com unless you can afford to lose your entire investment.
Release of Liability: Through use of this website viewing or using you agree to hold 365newsmedia.com, its operators owners and employees harmless and to completely release them from any and all liability due to any and all loss (monetary or otherwise), damage (monetary or otherwise), or injury (monetary or otherwise) that you may incur. The information contained herein is based on sources which we believe to be reliable but is not guaranteed by us as being accurate and does not purport to be a complete statement or summary of the available data. Please be advised that 365newsmedia.com is often compensated for issuing press releases, profiles or opinions concerning particular companies, its opinion is therefore biased and you should consider the factor when evaluating 365newsmedia.com's statements regarding a company. 365newsmedia.com's officers and directors do NOT own any shares of the mentioned company(s), however we do reserve the right to buy shares of the company(s) discussed in this opinion and may profit in the event those shares rise in value. When 365newsmedia.com receives free or restricted trading shares as a compensation for a profiled company, 365newsmedia.com may sell part or all of such shares during the period in which 365newsmedia.com is performing such services. 365newsmedia.com will disclose how many and what type of shares we have been compensated if we do receive shares or buy shares of a profiled company. 365newsmedia.com will also disclose any compensation. 365newsmedia.com has been compensated One-Thousand Five-Hundred Dollars Cash by a third party (Wall Street Grand, LLC) for a 1 Time e-mail Marketing and Advertising Contract of MFTH . 365NewsMedia.com could potentially be compensated more in the future for more advertising campaigns of MFTH but not difinitive arrangements have been made at this time. This compensation or expected compensation, expired or not, is a major conflict of interest in our ability to be unbiased. Therefore, this newsletter should be read as a commercial advertisement only. The third party, company, or their affiliates may wish to liquidate shares, which has the potential to hurt share prices . Our emails may contain forword looking statements, which are not guaranteed to materialize due to a variety of factors. We do not guarantee the timeliness, accuracy, or completeness of the information on our site or in our newsletters. The information in our email newsletters and on our website is believed to be accurate and correct, but has not been independently verified and is not guaranteed to be correct. Any opinions expressed are subject to change without notice. 365newsmedia.com encourages readers and investors to supplement the information in this report with independent research and other professional advice. All information on featured companies is provided by the companies profiled, or is available from public sources and 365newsmedia.com makes no representations, warranties or guarantees as to the accuracy or completeness of the disclosure by the profiled companies. 365newsmedia.com, nor any of its affiliates are not registered investment advisors or a broker dealers. Please read our FULL Disclaimer at www.365newsmedia.com/disclaimer ;
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RAFAEL PEREIRA'S MULTI WEB SITE FRAUD PROMOTING MARK HARRIS THE BOILER ROOM GUYS STOCKS QUITE A FEW TIMES. BIG BUCKS FOR SERIAL CON ARTIST. PAID 65 GRAND FOR THIS PUMP FROM MARK HARRIS. OTCBB SENZ
"NewsworthyStocks.com has been compensated Sixty-Thousand Dollars Cash by a third party (Apache Capital, LLC) for a 6 Day Awareness E-mail Marketing/Advertising Campaign of SENZ. NewsworthyStocks.com has been previously compensated Sixty-Five Thousand Dollars Cash by a third party (Apache Capital, LLC) for a 3 Day Awareness E-mail Marketing/Advertising Campaign of SENZ which has expired. NewsworthyStocks.com could potentially be compensated more for providing investor relations services regarding SENZ in the future, although n agreements have been made at this time. This compensation or expected compensation, expired or not, is a major conflict of interest in our ability to be unbiased"
http://stocknewsalerts.net/newsletter/our-vip-pick-jumps-over-20-and-finished-day-18
Arizona Corporation Commission
12/05/2010 State of Arizona Public Access System 10:52 AM
Jump To... Scanned Documents
Corporate Inquiry
File Number: L-1545934-4
Corp. Name: APACHE CAPITAL, LLC
Domestic Address 9999 E SUNDANCE TRL
SCOTTSDALE, AZ 85252
Statutory Agent Information Agent Name: MARLA NEELY
Agent Mailing/Physical Address:
% TREESTONE ACCOUNTING GROUP L
17787 N PERIMETER DR STE A101
SCOTTSDALE, AZ 85252
Agent Status: APPOINTED 08/14/2009
Agent Last Updated: 09/21/2009
Additional Corporate Information Corporation Type: DOMESTIC L.L.C. Business Type:
Incorporation Date: 08/14/2009 Corporate Life Period: PERPETUAL
Domicile: ARIZONA County: MARICOPA
Approval Date: 08/18/2009 Original Publish Date: 08/31/2009
Manager/Member Information MARK A HARRIS
MANAGER
9999 E SUNDANCE TRL
SCOTTSDALE,AZ 85252
Date of Taking Office: 08/14/2009
Last Updated: 08/18/2009
JONNI-COLEEN SISSONS
MEMBER
9999 E SUNDANCE TRL
SCOTTSDALE,AZ 85252
Date of Taking Office: 08/14/2009
Last Updated: 08/18/2009
Scanned Documents
(Click on gray button to view document - will open in a new window)
Document Number Description Date Received
ARTICLES OF ORGANIZATION 08/14/2009
PUB OF ARTICLES OF ORGANIZATION 08/31/2009
Back To Top
Corporate Name Search Instructions
General Web Site Usage Instructions
Return to STARPAS Main Menu
Return to A.C.C. Corporations Division Main Page
Return to Arizona Corporation Commission Home Page
Here is Philippine Securities and Exchange Commission saying hi to Mark Harris
Oxford Int'l. Mgt., Inc.
2001 May 10
Boiler Room / Fraudulent securities transactions
http://web.archive.org/web/20041019014544/http://www.sec.gov.ph/index.htm?cdo
Super swindle linked to sex clinic
Kate McClymont and Michael West
January 4, 2011
http://www.smh.com.au/business/super-swindle-linked-to-sex-clinic-20110103-19dwy.html
A billboard for the Advanced Medical Institute. Photo: Danielle Smith
THE alleged mastermind behind Australia's largest superannuation swindle, in which $118 million vanished into a Caribbean tax haven, was also a silent partner in the failed erectile dysfunction company Advanced Medical Institute.
On the eve of his company's dubious practices being exposed by the Herald last month, the controversial medical entrepreneur Jacov ''Jack'' Vaisman placed AMI into administration.
A Herald investigation of company documents, here and overseas, has revealed that while Mr Vaisman was making millions, in the shadows controlling a 50 per cent interest in AMI was a network of unscrupulous financial engineers responsible for Australia's largest superannuation theft.
Advertisement: Story continues below The ultimate controller of the group is Jack Flader, 48, The American-born trader, who lives in Hong Kong, has been under investigation in Hong Kong by the Securities and Investments Commission.
Mr Flader is alleged to be behind the collapsed Astarra Strategic Fund, part of the Trio Capital group based in the NSW town of Albury.
Trio, through financial planning networks fed by kickbacks, encouraged Australians investors to put their savings in Astarra. The money was then funnelled through Hong Kong to a British Virgin Islands company associated with Mr Flader.
There the trail goes cold. For a year Australian investigators have been hunting for the missing $118 million without success.
Just before Christmas, Mr Flader's sidekick Shawn Richard, who had raked off $6.4 million in payments from the Trio Capital scam, pleaded guilty in the Downing Centre Local Court in Sydney to two charges of dishonest conduct. Mr Richard, 35, who is dubbed Shawny Cash on Facebook, faces 10 years in jail. In court, he gave evidence that he was merely the puppet for the alleged mastermind, Mr Flader.
In 2005, Mr Flader and Mr Vaisman's lawyer, Richard Doyle, concocted a plan to float AMI on the US stock exchange. They gained control of a company shell and bought two Australian companies they had also set up - one with intellectual property rights for the erectile disfunction spray in Australia and one housing international rights to the ''technology''.
Although these rights were based not on a patent but on an ''innovation patent'' - which was achieved by filling out a simple form at a cost of only $150 - the promoters sold them to the US company for $24 million. They repeated this deal for the international rights the next year, again for $24 million.
Investigations by the Herald also found that interests associated with Mr Flader and Mr Vaisman were active in trading the US stock AMI among themselves.
No one appears to have informed the US stock exchange of AMI's woes in Australia. The day after AMI went into voluntary administration, the US share price, which had been wallowing at 1¢, leapt to 8¢. It is back to 1¢.
The same day the administrators were appointed to AMI, Mr Vaisman, who calls himself ''Dr'' since earning a PhD from an American university, was informed by the consumer watchdog that it intended to prosecute him and two of his doctors for ''unconscionable conduct''.
Mr Flader's first run-in with regulators came to light when the Financial Services Authority in Britain exposed Pacific Continental Securities, to which he was closely linked, as a ''boiler room'' operation whose share dealers engaged in cold calling unsuspecting retail investors to sell overpriced and worthless company floats.
AMI, famous for its ubiquitous billboards and radio advertisements promoting ''longer lasting sex'', has for years been the subject of a barrage of complaints for unethical medical practices and predatory tactics where callers are pressured to sign up for premature sexual dysfunction treatments costing thousands of dollars when the same medication could be obtained for a fraction of the cost through a family GP
APACHE CAPITAL, LLC and the Boiler Room guy Mark Harris
Arizona Corporation Commission
12/05/2010 State of Arizona Public Access System 10:52 AM
Corporate Inquiry
File Number: L-1545934-4
Corp. Name: APACHE CAPITAL, LLC
Domestic Address 9999 E SUNDANCE TRL
SCOTTSDALE, AZ 85252
Statutory Agent Information Agent Name: MARLA NEELY
Agent Mailing/Physical Address:
% TREESTONE ACCOUNTING GROUP L
17787 N PERIMETER DR STE A101
SCOTTSDALE, AZ 85252
Agent Status: APPOINTED 08/14/2009
Agent Last Updated: 09/21/2009
Additional Corporate Information Corporation Type: DOMESTIC L.L.C. Business Type:
Incorporation Date: 08/14/2009 Corporate Life Period: PERPETUAL
Domicile: ARIZONA County: MARICOPA
Approval Date: 08/18/2009 Original Publish Date: 08/31/2009
Manager/Member Information MARK A HARRIS
MANAGER
9999 E SUNDANCE TRL
SCOTTSDALE,AZ 85252
Date of Taking Office: 08/14/2009
Last Updated: 08/18/2009
JONNI-COLEEN SISSONS
MEMBER
9999 E SUNDANCE TRL
SCOTTSDALE,AZ 85252
Date of Taking Office: 08/14/2009
Last Updated: 08/18/2009
Scanned Documents
(Click on gray button to view document - will open in a new window)
Document Number Description Date Received
ARTICLES OF ORGANIZATION 08/14/2009
PUB OF ARTICLES OF ORGANIZATION 08/31/2009
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Gerard Adams who is Lebeds sidekick also paid this crook to promote the stock. This crook had multiple web sites under different domain names. RAFAEL PEREIRA is the crooks name. Rafael accepted thousands to promote GENM from offshore BBoiler Room Crook Mark Harris.
Lower than low
StockMister.com expects to be compensated Three-Thousand Dollars Cash by a third party (Wall Street Grand, LLC) for a 2 Day Marketing Program of VTMS.
-----Original Message-----
From: StockMister <editor@stockmister.com>
To: xxxxxxxxxxxxxxxxx
Sent: Fri, Jan 21, 2011 12:31 am
Subject: This week has been amazing and it's time to finish it with a bounce back Play!
Dear Traders,
This week has been really amazing!! Again GENM was introduced at $.37 cents and today (Thursday Jan 20th) hit a NEW 52-week high of $.55!!! Now we want to finish the week with a bounce back Play... We first introduced this company to all our members in November when it was trading at around $.16-$.20!!! It has since than more than DOUBLED!! The activity on it has picked up during the last couple of day's and after falling a bit today it could bounce back during the next couple of days... Now let me tell you the company I am profiling as a bounce back Play:
Vitamin Spice (Public, OTC: VTMS)
Vitamin Spice (Public, OTC: VTMS) is a blend of premium herbs and spices packed with the essential vitamins, minerals, and anti-oxidants. Their product is perfect for families who want to boost the nutritional value of everyday meals through a simple and easy process. Its creator, Ed Bukstel, had a lifelong commitment to health and nutrition and felt that by creating a convenient and effective way to nourish the body, he could spread his message.
VitaminSpice's products are:
kosher with all-natural spices
free of dairy and nuts
100% vegetarian
free of additives, preservatives and coloring
calorie-free
free of sugar and artificial sweeteners
gluten-free
VitaminSpice's multivitamin formula is currently available in six spice mixes:
Granulated Garlic
Ground Pepper
Sea salt
Crushed Red Pepper
Ground Cinnamon
Italian Seasoning
VitaminSpices's products don't smell or taste like vitamins. In fact, by just sprinkling them on any ordinary food or beverage, you are guaranteed to treat your body as well as your palate!
Symbol
Price
Change
VTMS.OB
0.37
-0.04
Recent News
VitaminSpice Signs Agreement With Extreme Speed Motorsports for Team Ferrari Sponsorship in American Le Mans Series
WAYNE, PA--(Marketwire - 01/19/11) - VitaminSpice (OTC.BB:VTMS - News) (German WKN: A0YE4L) (www.vitaminspice.net) is proud to announce that it has entered into an agreement with Extreme Speed Motorsports LLC to be an Associate Sponsor of Team Ferrari in the 2011 American Le Mans Series.
"The name Ferrari represents Performance and Extreme Quality. VitaminSpice brings nutrition to enhance the body's performance and gourmet spices together for a perfect combination. Ferrari has always been viewed as the leading edge of high-end cars and racing. VitaminSpice is leading the way to increase nutrition and taste for kids, families, and athletes," stated Edward Bukstel CEO VitaminSpice.
"The company continues to work with iconic organizations in order to create and establish brand awareness on a national and international basis in retail and food services markets. Extreme Speed Sports and Ferrari represent excellence, and it is a natural fit for VitaminSpice to be associated with these companies. It is our goal at VitaminSpice to provide excellence in nutrition and delicious condiments, spices, ketchup, organic salad dressings, etc," stated Bukstel.
The American Le Mans Series and the relationship with Extreme Speed Motor Sports and Ferrari will continue to create the brand awareness for VitaminSpice Products for retailers, restaurants, and consumers, families and children in the United States and World Wide.
VitaminSpice's Online Vendor Orders Increase Over 700% -- Inventory Build-Up Underway to Also Fill Retail and Food Service Orders in First Quarter 2011
WAYNE, PA--(Marketwire - 01/18/11) - VitaminSpice (OTC.BB:VTMS - News) (German WKN: A0YE4L) (www.vitaminspice.net) announces that Online vendor www.christinacooks.com sold out of VitaminSpice's product lines in just a few days time -- not just once but twice. Total orders from all online vendors have increased by over 700% since the end of the 3rd quarter.
IUCSS, Inc., a Nevada corporation, paid for a $25,000 order placed in late November (release of Nov 17, 2010) with delivery of product to IUCSS in approximately 45 days. IUCSS will go live in the first quarter of 2011 with a health improvement-better living website providing Foodceutical, Nutraceauticals, supplements, and a nutritional line of products. This website will be the premier destination on the web for individuals to find healthy choices to improve your everyday life. VitaminSpice Products will initially be the highlight of the new website.
Vendor orders had been limited in size during the 2010 calendar year due to short-term issues in VitaminSpice's ability to manufacture and deliver product. However, equity and product financing has now allowed VitaminSpice to ramp up production. The first sizable product delivery to vendors will occur here in the first quarter of 2011.
"We have completed a lot of the groundwork for the distribution and sale of our initial product lines in the market. This first quarter will be an exciting one since we are making a solid transition to a revenue generating business. As sales now increase, we will become self-funding as a company. I look forward to the coming months with great excitement," stated Edward Bukstel, CEO of VitaminSpice.
As Always: Our Number 1 Priority is to educate and help our members trading, so, PLEASE ONLY Invest what you can afford to lose!! Trading Stocks is risky and we 100% feel that if you can't lose your ENTIRE investment and still continue your normal life than DON'T play the Stock Market.
Having that said, don't forget our rules: PLAY SMART. LIMIT YOUR LOSSES (10% STOP) AND CASH IN ON YOUR GAINS (10%+ WITH 5% TRAILING STOP)
P.S. Don't forget to sign-up for my mobile alerts by texting StockMister to 69302.
Thank you,
Rafael (StockMister)
Disclaimer:
*Never invest in a stock mentioned by StockMister.com unless you can afford to lose your entire investment.
Release of Liability: Through use of this website viewing or using you agree to hold StockMister.com, its operators owners and employees harmless and to completely release them from any and all liability due to any and all loss (monetary or otherwise), damage (monetary or otherwise), or injury (monetary or otherwise) that you may suffer. The information contained herein is based on sources which we believe to be reliable but is not guaranteed by us as being accurate and does not purport to be a complete statement or summary of the available data. Please be advised that StockMister.com is often compensated for issuing press releases, profiles or opinions concerning particular companies, its opinion is therefore biased and you should consider the factor when evaluating StockMister.com's statements regarding a company. StockMister.com's officers and directors do not own any shares of the mentioned company(s). When StockMister.com receives free or restricted trading shares as a compensation for a profiled company, StockMister.com may sell part or all of such shares during the period in which StockMister.com is performing such services. StockMister.com will disclose how many and what type of shares we have been compensated if we do receive shares or buy shares of a profiled company. StockMister.com will also disclose any compensation. StockMister.com expects to be compensated Three-Thousand Dollars Cash by a third party (Wall Street Grand, LLC) for a 2 Day Marketing Program of VTMS. StockMister.com has been compensated Seventy-Five Thousand Dollars Cash by a third party (Apache Capital Group) for a 5 Day Marketing Program of GENM. This compensation/expected compensation, expired or not, is a major conflict of interest in our ability to be unbiased. Therefore, this newsletter should be read as a commercial advertisement only. The third party, company, or their affiliates may wish to liquidate shares, which has the potential to hurt share prices . Our emails may contain forword looking statements, which are not guaranteed to materialize due to a variety of factors. We do not guarantee the timeliness, accuracy, or completeness of the information on our site or in our newsletters. The information in our email newsletters and on our website is believed to be accurate and correct, but has not been independently verified and is not guaranteed to be correct. StockMister.com encourages readers and investors to supplement the information in this report with independent research and other professional advice. All information on featured companies is provided by the companies profiled, or is available from public sources and StockMister.com makes no representations, warranties or guarantees as to the accuracy or completeness of the disclosure by the profiled companies. StockMister.com, nor any of its affiliates are not registered investment advisors or a broker dealers. Please read our FULL Disclaimer at www.StockMister.com/disclaimer
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1 OF 1 RECORD(S)
Fictitious Business Records
Business Information
Name: STOCKMISTER LLC
Business Address: 56 MADISON
NEWARK, NJ 07105-2363
ESSEX COUNTY
Jurisdiction: NJ
Type: DBA
Number: 0400293809
Date: 06/24/2009
Contact Information
Name: RAFAEL PEREIRA
Contact Type: OWNER
Dear students of StockDungU. GENM is stockscam promotion by StockMinster who was paid 75 Grand by a boiler room crook to promote this stock.
"StockMister.com will also disclose any compensation. StockMister.com has been compensated Seventy-Five Thousand Dollars Cash by a third party (Apache Capital Group) for a 5 Day Marketing Program of GENM"
The Boiler Room Crook who paid StockMister is Mark Harris who owns Appache Capital. Here is the Crook that is promoting this stock.
Stock promoter's divorce reveals life of luxury
For more than a decade, Vancouver businessman Mark Harris made a fortune running boiler rooms -- high-pressure telephone stock sales operations -- in Europe and Asia. Unfortunately for his net worth, his wife Lori made a career out of spending it.
By The Vancouver SunMay 13, 2006
For more than a decade, Vancouver businessman Mark Harris made a fortune running boiler rooms -- high-pressure telephone stock sales operations -- in Europe and Asia. Unfortunately for his net worth, his wife Lori made a career out of spending it.
From 1986 to 1997, Harris worked in phone rooms that used high-pressure methods to sell stocks, most of dubious value, to people all over the world. Initially, he manned the phones himself, but eventually became involved in setting up and overseeing the sales operations.
For various reasons, some of them regulatory, he moved often -- from Spain to Hong Kong, Macau, back to Hong Kong, then to the Philippines, California and finally Vancouver. Throughout most of this period, he worked closely with Bryant Cragun, owner of a boiler room operation that was rather grandly called Oxford International Management.
Wherever he went, Lori followed. It was a nomadic existence, but it had its rewards. In his peak earning years, he made more than $500,000 US a year.
Neither of them was shy about spending it. They employed a maid, a gardener, a chauffeur, even a dog-walker. Every year, for Lori's birthday, they went to Italy. During the beach season, they spent weekends on Boracay Island, about 90 minutes from Manila.
Aside from the occasional modelling job, Lori Harris did not work. She took Spanish lessons, she played tennis, she flew to Hong Kong to have her hair done. But mostly she shopped.
She bought Versace, Dolce & Gabbana and other expensive designer clothes. When her credit card at Saks Fifth Avenue exceeded her limit, she simply opened another account and purchased an $8,000 full-length mink coat. She shopped so much that she hired a personal shopper to help her.
In 1995, the couple began construction of a mansion on an acre of land in Osoyoos. The project, originally budgeted at 3,000 square feet and $500,000, ballooned to 6,000 square feet and $3 million, including an outdoor dining area modelled after the Four Seasons Resort in Bali and five Versace carpets costing more than $100,000.
In 1997, Harris returned to Vancouver to provide investor relations services for many of the same companies he had been selling by phone. Business was initially good, but by 2000, the market had collapsed. His income was decimated and his marriage in a shambles. In 2002 they separated.
Unable to agree on a division of assets, the couple went to court. In a 10-day trial earlier this year, and in a 14-page decision released just days ago, their private lives were laid bare, providing unique insight into the controversial and lucrative business of boiler room operators.
Not mentioned are the people who bought stock from Harris's telemarketers. According to newspaper accounts, court records and securities filings, many of them lost substantial amounts of money.
One was Guy Fletchere-Davies, a 62-year-old carpet manufacturer in Melbourne, Australia. He told the Wall Street Journal in August 2000 that he bought shares of ZiaSun Technologies Inc., which traded on the dreadful OTC Bulletin Board in the U.S., and several other junior stocks, from the Manila office of Oxford International Management, where Harris ran the telemarketing operation.
Fletchere-Davies said his brokerage account was passed around among several Oxford salespeople, then to a successor firm. In late 1999, "the phone calls stopped and the paperwork dried up." ZiaSun collapsed and he lost $150,000.
By this time, Harris had left Oxford and at Cragun's behest he had set up an investor relations business, Veritas Marketing & Communications Group Ltd., with offices in Vancouver and Solana Beach, Calif., to help promote ZiaSun and other stocks that Oxford was selling.
Oxford and Veritas have since shut down and Cragun has reportedly retired, but Harris continues to provide investor relations services through a private firm, Skylla Capital Corp., which operates out of a corner office in Park Place in downtown Vancouver.
Skylla is the grotesque six-headed monster in Greek mythology that swooped down on passing ships and sea creatures, but Harris denies that any of his business activities have been predatory: "Every company I have been associated with was fully registered and all the companies we recommended were legitimate," he said in an interview this week.
n
Harris is now 49, but his boyish good looks make him appear much younger. He dresses and speaks in a casual but calculated way. His cell phone rings incessantly. For the most part, he ignores the calls to focus on a Vancouver Sun reporter who, uninvited and unannounced, has dropped into his office.
According to the divorce action, Harris was born and raised in Calgary. He dropped out of school in Grade 11 and worked at a steel mill, as a truck driver, at McDonald's, and as a car salesman.
In 1986, he met and married Lori, seven years his junior. He began training as a stock broker, then a friend offered him a job with a firm called Indigo Investments in Torremolinos, Spain.
"He immediately began work as a telemarketer persuading prospective clients to purchase stock in companies," Judge Linda Loo noted in her judgment.
It was clear that he had an aptitude for the job. He made $5,000 in his first month. The following year, he got a better job as "telemarketing sales manager" for a firm called Equity Management Services in Marbella, Spain. It paid $10,000 per month plus a percentage of the business that the phone room generated.
However, the judge noted, "the job ended abruptly after about a year when the payroll failed to materialize." Harris told The Sun he's "not 100 per cent sure why it shut down." But in the fluid world of boiler rooms, such businesses disappear and reappear with alarming frequency and speed. In this instance, the phone team was offered similar work in Hong Kong starting the following week.
Within five months, Harris was back making $10,000 per month, but once again, the job suddenly ended, this time when the Hong Kong Securities and Exchange Commission intervened. Why the commission intervened is not explained.
Harris found work in a similar operation in Macau, but the couple found the living and working conditions unagreeable, so they decided to use their savings to travel throughout Europe and Asia.
In 1990, Harris returned to Hong Kong and teamed with Bryant Cragun, a former senior vice-president with Goldman Sachs, in another telemarketing operation. Within months, however, Hong Kong regulators once again stepped in and the phone room was shut down. Once again, no reason is given. Harris told The Sun that, to meet capital requirements, the firm had posted shares of an OTC Bulletin Board company rather than a Nasdaq company, and the authorities refused to accept them.
The following year, in April 1991, Cragun established another telemarketing business in the Philippines, Oxford International Management, which styled itself as a "U.S. equity fund manager." He hired Harris to manage the phone room, with huge success.
Within four months, Harris was making $10,000 US per month, plus a percentage of sales. By 1993, the firm had grown to 50 employees and he was making more than $250,000 US per year. By 1995, the firm had offices in Spain, Brussels, Taipei, Indonesia and Bangkok, and he was making $500,000 US annually.
Life was good. The couple travelled extensively. Each Christmas they stayed at the Four Seasons Hotel in Bali. During the summer, they spent weekends on Boracay Beach, where Harris invested $200,000 in an aquasports business which provided them with boats and jet skis, but generated nothing in the way of profits. They also invested $85,000 in an Indian cuisine restaurant in nearby Subic Bay.
Lori was, by all accounts, an excellent hostess. She entertained Harris's business colleagues at Boracay Beach and helped arrange Oxford's annual Christmas party, which was attended by up to 400 guests. She also attended dinner meetings with Mark's clients and prospective clients.
"He considered his wife an asset because together, they were an attractive, well-dressed couple," Loo noted. But other than spending money, the judge said, "she took almost no interest in her husband's work or their finances."
In an interview this week, Lori Harris said she understood her husband was involved in "venture capital," but didn't know any details. "I knew it was telemarketing, but I didn't know the stocks or the names of the companies he was promoting," she said.
n
Oxford had a stable of junior companies that it organized, financed and promoted to retail investors. Among them were ZiaSun Technologies Inc. and Chequemate International Inc.
Both were listed on the OTC Bulletin Board, a trading forum that is virtually unregulated. In fact, prior to 1999, bulletin board companies didn't even have to issue financial statements.
ZiaSun and Chequemate financed their businesses by selling large blocks of stocks to foreign purchasers under a U.S. securities rule known as Regulation S.
Under this rule, issuers can avoid going through the onerous process of a registered stock offering by placing the shares with "accredited investors" outside the country. The condition is that these shares cannot be sold back to U.S. investors for at least a year.
Cragun, as an officer and director of ZiaSun and Chequemate, arranged for these companies to sell large blocks of unregistered stock to Oxford and related boiler rooms, which marked up the share price and hyped them to investors in foreign jurisdictions.
Problem was, neither Oxford nor its employees were registered to sell stock in Ireland, Switzerland, Australia or any of the others countries where the purchasers were located. Also, the companies were long on puffery and short on substance, which made them exceedingly risky investments.
According to a June 2002 article in the St. Louis Post-Dispatch, one of Oxford's clients was Australian rancher Wally Peart. Starting in 1994, he bought seven stocks from Oxford, including Chequemate, for a total investment of $130,000 US. Little did he know, but all of the companies had close ties to Cragun and associates.
Peart told the newspaper that, on Oxford's advice, he never sold any of the shares, ostensibly to maximize long-term gains. "Everything seemed to work OK, and they often invited me to visit them in Manila," Peart is quoted as saying. "However, in 1999, it all folded and my retirement fund disappeared."
Harris rejects the characterization of Oxford as a "boiler room." He said the firm made sure it was licensed in every jurisdiction in which it sold stock. However, when asked if the firm was licensed to sell stock to Australian investors such as Peart, he replied: "I can't answer that question. I don't know exactly."
He also said the companies that Oxford recommended were all legitimate companies and a lot of Oxford clients made money. "I bought IBM and lost a lot of money on it. It's all based on timing," he said.
He also said neither he nor Cragun have ever been accused of wrong-doing. Cragun told the Wall Street Journal that the U.S. Securities and Exchange Commission spent five years investigating his role in selling Regulation S shares overseas and it "never filed anything against me."
n
A large chunk of money supplied by investors like Peart found its way back to B.C.
The Harris's bought the acre of land in Osoyoos and began constructing their mansion. It had seven bathrooms and marble tiling throughout, even in the mechanical and laundry rooms.
They paid $35,000 for chandeliers, $40,000 for a wrought iron staircase and $25,000 for a desk for Mark's home office. In all, they spent $225,000 on furnishings. The total cost was more than $3 million. "It is the most expensive house in Osoyoos," the judge observed.
But the gravy train was coming to a halt. By 1996, Oxford had over 10,000 clients, but according to Loo, the stock market had turned and Harris "was forced to deal with unhappy investors."
Cragun opened an investment banking business in San Diego and invited Harris to join him. In October 1997, Mark and Lori moved to Del Mar, just outside San Diego, and rented a 3,200-square-foot ocean-view home for $4,750 a month. They also bought a Porsche 911 for $96,000 US and a 540 BMW for $65,000 US.
Within a few months, Cragun decided he wanted Harris to help him support the public companies that he was promoting. So Harris incorporated Veritas Marketing & Communications with offices in Vancouver and Solana Beach, Calif. He commuted back and forth, spending Tuesdays to Friday in Vancouver, and Saturday to Monday in Del Mar.
Veritas provided investor relations services for several companies, including ZiaSun. At its peak, it had 20 employees, but it was not a lucrative enterprise. Harris was paid in shares, which initially soared in value, but by the time they became free-trading, the share price had collapsed. ZiaSun, for example, rose to $30, but plunged to 30 cents by the time they were cleared for trading.
In 2001, Harris's total income slumped to $10,000, but Lori could not adjust to this new financial reality. As Judge Loo remarked: "Her passion for high-end designer fashions continued undeterred." Among the items she bought, over her husband's objections, was an $8,000 full-length mink coat from Saks. The following month, in September 2002, they separated.
"There is no doubt that Ms. Harris has a clothes-buying habit," the judge observed.
n
Since their separation, Lori has been living in the Osoyoos mansion, but Judge Loo has ordered that it be sold and net proceeds divided between them. She also ordered Mark to pay $150,000 spousal support in two equal instalments in January 2007 and January 2008.
It is not clear what Lori will do. "Mr. Harris has suggested avenues Ms. Harris might explore, such as being a veterinary assistant, because she loves animals, or being a personal shopper, because she has exquisite taste and enjoys interacting with people," Loo noted.
However, she added, Lori "has taken no real steps towards finding work or training because she claims she is too emotionally distraught...."
In 2003, Mark returned to Marbella, Spain, to set up offices for another telemarketing firm called Global Capital Asset Advisors. At about the same time, he began a common-law relationship with Jonni-Colleen Sissons, then a broker with IPO Capital Corp.
In January 2004, Sissons gave birth to their son in Malaga, Spain, and they have since returned to Vancouver. Sissons is now registered with Northern Securities and Mark is pursing his investors relations business through Skylla Capital.
He refuses to say who his clients are: "I have been advised by my lawyer not to say anything further to you."
dbaines@png.canwest.com