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Does that mean there is still time to average down?
Howard is still working hard to get financing and or a partnership deal. If your still here I guess your still holding so cross your fingers. I think we will win in the long run. The bid is up at the moment!
Wow, someone dropped 600 dollars on this. I'm really surprised anyone is buying during this period of drift...
I wonder who's buying right now? I still have my shares and a bit of faith left.
Wow with DMs shares almost gone and rumors of a JV things are looking really exciting. Im glad I stuck with PHAR. Go Howard!
All the ingredients in Aquaprin are FDA approved already.
Paint down for six bucks...why the constant hate?
PharmStar is currently in negotiations with three different funding groups for full funding to get into production. These talks are very promising.
It is what it is.
We know we need financing, we have known this all along. I think its great that Howard has come out with a very humble PR of the truth, many CEOs would not have done this.
If some one was trying to "dump" shares why would they have not sold into the bid at .0006? There has been very little selling in the past couple months. We can only go up from here. Its only a matter of time before Howard gets the funding he needs for Aquaprin to succeed.
I'm glad Howard honestly addressed his share holders, it shows he really does care. Howard and PHAR will succeed in time. Go PHAR!
8 week tour never happened, I don't think Howard ever planned to do the tour. He only put out the PR to try and raise the SP, which was a fail.
If Howard ever does get the financing I don't think we will hear about it.
Its obvious Howard doesn't care about the share price or his investors.
This company is no longer a public trading company.
Back to Pennies = huge profits for anyone getting in now.
My triple zero shares are looking very pretty right now!
Go PHAR
Dead cats bounce pretty high eh?
Seems to be effected by some kind of anti-gravity....
jmo
Would have liked to see more positive info in the 10k, at least they filed it...
For once I think Earnest might have been right...
Looks like Henry used shareholders money to pay for his vacation in Thailand. He greatly appreciates everyone donations, pics off his trip will be uploaded to the company website here soon for all those interested. ROFL
SELL OFF!!!
Funny cause I talked to Howard at the office a couple days ago.
Why do you think they are no longer at that address? I talked to Howard this week and he told me they were still there.
Great week for PHAR so far. Can't wait till our PR comes out!
Sounds like CATA is stalling the inevitable triple zeros. Jmo
That's why we need to start ask slapping. Get this ball rolling. Go PHAR
You should have really gotten on the secret mailing list. To late now.
Yeah I'm in the same boat. Finally got my avg under a penny a few Weeks ago.
I'm very glad I stuck with Howard, those who did will be rewarded.
Triple zeros gone for good!
If you missed out on the cheapies you still have time to get in before the BIG NEWS!
Move that ask up! Go PHAR
I can't believe they are going to wait until the last minute to post the 10k. Makes me nervous. Better have awesome info in it.
I think he needed 3 million to start
How do you change cities on frogads? website looks just like CL, why would people switch to frogads, cl is so easy.
I cant complain about todays performance. Everyone is waiting for the PR and that should take us the next leg up to .002-.005
I expected to see a mass sell off today after thursdays record breaking trading day but it didnt happen.
Strong accumilation from here to .01
This could be the play of the year IMO
I love your witty remarks Earnest, they never get old.
Your probally right, Howard is going to give DM more PHAR shares so Howard can pay the electric bill, why would he not do this?
I know why, Howard could just sell his OWN shares if he needed to pay the bills, but we all know this is not happening.
More than likely Howard is reviewing several invesment options and deciding which will work best for PHAR and its shareholders.
Go Phar!
Looks like PHAR is holding above trip zeros today, I think the selling is over with. DM out of shares and PR on aquired financing just around the corner. I firmly believe this is the LAST chance to get on board with Howard and AQUAPRIN at these prices.
Good Volume today, GO PHAR
Nice find. I'm very happy with my position in PHAR
Interesting article, To bad Howard didnt google search this guy before signing the deal.
http://thepennystockgurus.com/articles/evfl-bmgi-a-great-read-for-long-time-followers-of-my-blog/
EVFL, BMGI – A Great Read For Long Time Followers Of My Blog
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Posted by Bob Wilcox on Jan 5, 2011 in Articles | 0 comments
EVFL, EBOF you may recall my blog posts about them in 2009 and early 2010. Here is a great follow up article from FORBES. It also concerns BMGI. The basic theme is how EVFL, BMGI took your money. The good thing is you were not alone.
By DANIEL FISHER
Dennis G. McLaughlin III has to be one of the world’s best salesmen — and one of the world’s most incompetent business executives. The flashy University of Oklahoma grad once talked Morgan Freeman, Willy Nelson and Julia Roberts to endorse his debt-laden biofuels company despite a record of financial failure. Now McLaughlin’s in Chapter 7 bankruptcy liquidation, fending off more than $27 million in claims from creditors and disgruntled former business partners. But you’d never know that from the financial filings and statements by his latest publicly traded companies, Evolution Resources and Big Star Media, which tout his previous ventures without mentioning how they turned out.
Which raises the question: Why does the Securities and Exchange Commission let Dennis get away with this? I first exposed his shenanigans back in 2007, when he was touting Earth Biofuels and its “Bio Willie” fuel, named after the outlaw singer and onetime director Willie Nelson. Investors in that ill-fated outfit, which once included Freeman and Roberts among its cheerleaders, never knew that McLaughlin had presided over a $100 million gas-trading bankruptcy in 2001 amid allegations of fraud by its creditors. McLaughlin later ran Ocean Resources, a penny-stock marine salvage operation that fired him over allegations he’d milked cash out of the business through a consultancy he controls. No acknowledgment of that, either, in Earth’s filings. (McLaughlin said Ocean’s claims were baseless and the firm owed him money.)
The SEC investigated McLaughlin in 2006, according documents insiders shared with FORBES, expressing a particular interest in the constellation of consulting firms that surround the businesses he runs. But the probe seems to have fizzled out (the SEC refuses to comment on investigations). I tried to reach McLaughlin himself, but lawyers listed in his Chapter 7 filings say they no longer represent him and the phone for Evolution Resources wasn’t working.
A disgruntled creditor did talk, however — and offered some insight into how McLaughlin might keep the cash flowing. The creditor says McLaughlin tried to pay off a debt with common stock in his company, even recommending a Boca Raton, Fla. broker, since sanctioned for penny-stock scams, who could supposedly sell the shares on the open market.
Steven Benevides sold his telecommunications company to McLaughlin in 2005 for $450,000 in cash and a $1 million debenture. As he has done repeatedly over the years, McLaughlin never paid a dime on the debenture (ask the folks at Sandell Asset Management, who lent him $50 million for some inexplicable reason). When Benevides pressed him to pay up, McLaughlin offered him Earth shares instead. He says McLaughlin also directed him to a broker at Newbridge Securities in Boca Raton, Fla. who could sell the stock for cash.
McLaughlin said “let me put the shares in your account and this guy can sell `em for you,” Benevides recalls, laughing. “I told him `If the stock is worth something, you sell it and give us the money.’”
Good thing Benevides rejected the offer. Newbridge’s owners were sanctioned in 2008 by the SEC for failing to supervise a broker who helped penny-stock artists pump up share prices and then unload their stock for millions of dollars in profit. The broker Benevides was urged to call was later fired and dropped his license over penny stock improprieties.
Benevides sued instead, and won a $1 million fraud judgment against McLaughlin, Earth Biofuels, Blue Wireless, TKM Oil & Gas and other companies he controls. McLaughlin signed that judgment, in which the judge cites “clear and convincing evidence” he defrauded Benevides.
That was in January 2010. You’d think the acknowledgment of a $1 million fraud would rate at least a mention in Evolution’s 10-K filed in July. Ditto McLaughlin’s personal bankruptcy filing in August, in which he listed less than $100,000 in assets and $50 million t0 $100 million in liabilities. Normally companies file an 8-K when something of that magnitude occurs to the chief executive. Evolution didn’t even mention it in its October 10-Q.
Meanwhile McLaughlin operates his public companies, including Big Star (is the estate of the immortal Alex Chilton getting a royalty?), which describes itself as “a multi-faceted entertainment and information distribution company focused on web-based presentations of live music events.” Big Star announced a $7 million equity deal in September with AGS Capital Group, which says it specializes in helping companies “periodically sell …common shares when the price is attractive.” Right now the price is not so attractive: half a cent per share.
Evolution’s latest SEC filings show that company has issued 7.3 million shares “for services” since 2009. The company also says McLaughlin has earned nothing. Yet his bankruptcy records, filed under penalty of perjury, show he pulled $500,000 in salary from Evolution’s predecessor Earth in 2008, when that company was insolvent, and another $820,000 through September of last year from an outfit called OSA Employment that lists its address as the same suite of Dallas offices as McLaughlin’s other ventures.
Perhaps those other businesses are generating all that cash. It can’t be DGMAC, one of the consulting firms that the SEC was interested in back when it was poking around in McLaughlin’s affairs. In his bankruptcy filings, McLaughlin lists himself as 100% owner of DGMAC LLC, stating its value as $0.
With monthly income of $40,000, and an estimated $14,000 a month left over after paying alimony and other costs, Benevides doesn’t think McLaughlin should even be in bankruptcy. His lawyers filed an objection to the proceedings on Jan. 3. He says he’s also shared the information he’s gleaned with the SEC, so far to no avail. In the meantime, Benevides says he regrets the day he walked into McLaughlin’s Dallas office, festooned with photos of celebrities and mementos of his checkered business career.
“You wanna like this guy — he is an absolute, phenomenal salesman,” Benevides says. “But the last five years’ history has led me to know its all b.s.”
How about we just go after DM instead of Howard? Besides according to you Howard has no money so what would the use of imposing fines on him that he couldnt pay?
Looks like DM made some big bucks on Thursday, I think we should start looking for him, he is the real crook behind everything, right?
Correct me if im wrong.
I'll leave it up to you to report any violations to the SEC. Hopefully their not too busy to handle it...
First time in PHAR history. Something big is coming. Almost $20,000 traded on Thursday. That's a FACT!
Looks like we had a reverse on Thursday!
Howard decided not to release PRs until after all DMs shares were gone, he has a good reason to do this, it will all make sense soon.
I see it a Howard is not willing to except defeat. Jmo
If Howard is willing to work a second job to continue growing PHAR than I think it awesome to have such much motivation out of your CEO.