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Well said. My wife trusts me to invest our savings. I have a very small budget for investing in pennies but otherwise am just fascinated with the system and research and conversation like here. Some people out there put there life into it - and lose!
People willingly invest in companies that don't exist and have no problem with it as they are just "playing the game"
Maybe that's partly why the SEC doesn't do anything about these one man scams. There are no victims, only volunteers, mentality. another reason being funding.
Good point. Also interesting how they define a microcap - less than $250-$300 mil market cap. A lot of these pinksheet scams have a market cap of less than $1mil or even a fraction of that.
The SEC website has this summary of microcap stocks and fraud - including on these boards - https://www.sec.gov/investor/pubs/microcapstock.htm. The interesting part is they are pushing people to complain to their broker and only go to the SEC as a last resort.
wonder if its because they don't have the funding to pursue it or they don't care - a sort of - if you fall for it..your bad view.
Thought for one minute to add research on how ridiculous the claim is, but really it is so perfectly unbelievable all on its own.
Great info. Thx!
Looks like the "billion" was before the reverse split but if Earth Pass has 10 million out of 18 million it owns over 50% and it isn't even listed under officers, directors and control person. Is it Earth Pass Inc or LLC - its listed both ways.
Earth Pass LLC was formed in December 2015 in the state of Florida and owned by Ricardo Cortez and Juan Carlos Ubieto. Earth Pass Inc was formed in January 2016 in Florida and is owned by Gianfranco Matute, Juan Carlos Ubieto, Ricardo Cortez and Peter Stebbins. Check out sunbiz.org.
The investor relations firm represents 3 companies with stop signs, one skull and crossbones grey market and its crown jewel is AZFL. They also advertise that they introduce clients to ways to fund clients. Doesn't that require a license...
Like you said, you can't make this shit up!
If the SEC is investigating these P&D and sham companies, where are the trading suspensions? Really curious to see a list of the companies and whether they are still active and trading.
Exactly!
Interesting. They amended both Q1 and Q2 again today. Looks like Manuel Nazareno Aves de Silva is out and Green American Properties with Ariel Pereira is in. Also note that JC Ubieto's interest went up but they say no new shares were issued. There is an Ariel Pereira that is the Assistant General Counsel for Legislation at the U.S. Department of Housing and Urban Development! Can't be him! I also found one that is a MMA fighter and one that is a musician. When I have more time I'll dig a little deeper. Anyone else with input?
Interesting and Grady Thrasher is listed as counsel for Q2. Definitely revolving door!
They re-posted Q1 also.
I know I am new to posting but I am not new to reading your posts, so I appreciate your patience with me as I jump in. I am a fact and research geek....
Forfeiture and restitution are actually different things. The new restitution judgment will not forgive or replace the prior forfeiture order. Forfeiture is an amount the government has taken and keeps... so likely the government seized the $1,000,000+ from both Flaherty and Brazil at some point and then got an order allowing them to keep it. Restitution is supposed to go to victims. unfortunately it is likely that the government already took what these guys have via forfeiture and the restitution judgment will go uncollected
So interesting. I didn't find anything to show that Elliot Borin has ever had a regulatory issue. DeMint either.
Where a company trades has nothing to do with what it is required to report to the SEC in an 8-k.
The dilution here is going to get way worse! tons of toxic debt outstanding. In 10-K Company reports annual operating expenses of $569,000 (approx. $47,000/month) but only gross revs of $67,000 - approx. $5,500/month - and Feldman has a $100,000 a year employment contract so he'll keep bringing in the toxic to pay himself.
He didn't disclose his whole background either Feldman was fired from Law Enforcement Associates and then he sued them for wrongful termination and lost http://www.ca4.uscourts.gov/Opinions/Published/131849.P.pdf. Law Enforcement Associates issued these 8-K filings http://www.wral.com/asset/business/2009/12/02/6533027/LEA_SEC_FILING.pdf and https://www.sec.gov/Archives/edgar/data/1165921/000118143109057462/rrd260244_30667.htm - seems investors would find this relevant especially in light of the huge losses this company keeps racking up.
Company doesn't file 8-K's when it continues to dilute and issue shares either.
And its going to get way worse - tons of toxic debt outstanding. In 10-K Company reports annual operating expenses of $569,000 (approx. $47,000/month) but only gross revs of $67,000 - approx. $5,500/month - and Feldman has a $100,000 a year employment contract so he'll keep bringing in the toxic to pay himself.
He didn't disclose his whole background either Feldman was fired from Law Enforcement Associates and then he sued them for wrongful termination and lost http://www.ca4.uscourts.gov/Opinions/Published/131849.P.pdf. Law Enforcement Associates issued these 8-K filings http://www.wral.com/asset/business/2009/12/02/6533027/LEA_SEC_FILING.pdf and https://www.sec.gov/Archives/edgar/data/1165921/000118143109057462/rrd260244_30667.htm - seems investors would find this relevant especially in light of the huge losses this company keeps racking up.
I don't get it. The April 30 quarterly report specifically says the company closed on the Merger on March 30 but the April 30 financials show $5 in total assets and no mention of a merger in the footnotes - not even in subsequent events. Now the company is issuing press about an upcoming closing. IMedscan was only formed in September - there is nothing here but a website, a puff of air and 8 million in volume! This is supposed to be huge...Looks like a huge mess!
isn't this AZFL's transfer agent - https://www.sec.gov/litigation/admin/2016/34-78608.pdf
The DEA won't reclassify cannabis - https://www.dea.gov/divisions/hq/2016/Letter081116.pdf
Thank you. Good info as always. The SEC complaint against IBC sounds like the SEC and IBC are friends! LOL. 3(a)(10) does not have to involve an adversarial lawsuit - it is a way to get a fairness ruling in front of a court. It is used all the time for mergers and acquisitions and friendly lawsuits most famously in the facebook-instragram acquisition - http://www.thesecuritiesedge.com/2012/08/is-facebooks-acquisition-of-instagram-fair-to-instagram-shareholders/. That was the first time I ever heard of 3(a)(10) and did research on it - it is used all the time in silicon valley. The problem, like so many other things, is when it is used to for fraud like when the "debt" is made up. Iron Ridge and IBC are classic abuse the system cases (though sure looks like IBC got off easy...). I still can't figure out how AZFL continues. Everything about it is bad!
Post if you find anything interesting
China, HongKong and Malaysia (easy to get info off OTC Markets website).
ACGBF
ACGBY
AHCHF
AHCHY
AICAF
AIRYY
ALMMF
ANGGY
AUHEF
BACHF
BACHY
BCMXY
BEIJF
BJCHF
BJCHY
BLHEY
BYDDF
BYDDY
CASDY
CBLUY
CCCGF
CCCGY
CCGDF
CCOZF
CCOZY
CGHLY
CGHOF
CGMBF
CHCJY
CHKIF
CHOLF
CHOLY
CHUFF
CHWTF
CICHF
CICHY
CICOF
CICOY
CIHHF
CIHKY
CIIHY
CILJF
CLPXF
CLPXY
CMAKY
CRCBY
CSDXF
CSDXY
CSUAY
CUAEF
DIPGY
DNFGF
DNFGY
FFNGY
FIRRF
FIRRY
GNGYF
GWLLF
GWLLY
GZPHF
GZPHY
GZUHY
HAITY
HMCTF
HPIFF
HUNGF
IDCBF
IDCBY
JEXYF
JEXYY
JIXAY
LDKYQ
LHUAF
LTONY
MAANF
MLLUY
PCCYF
PIAIF
PINXY
PNGAY
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SFDMY
SFOSF
SHANF
SHPMY
SHTDF
SHTDY
SHWGF
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SLUXY
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BBMPY
BHKLY
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BKEAF
BKEAY
BNKHF
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CAOVF
CAOVY
CEOHF
CESTF
CESTY
CEVIF
CEVIY
CHDGF
CHLKF
CHPTY
CHPXY
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CLPHF
CLPHY
CMHHY
CPCAF
CPCAY
CPIHF
CRBJY
CREQF
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CTPCY
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DCOHF
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FOSUY
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HGKGY
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HLDCY
HLDVF
HLPPF
HLPPY
HNLGF
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HOKCY
HOWWF
HOWWY
HRELF
HRELY
HSNGY
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Do you have a list of Winick companies? Any still trading and active?
Easy to find - pretty common knowledge IBC did its cases in Sarasota County - the Amazonas one was there - https://secure.sarasotaclerk.com/Search.aspx (actually 2 of them). Amazonas used an attorney named Michael Brown and IBC used Charles Cleland. Looks like they filed a second one in Feb 2015 that is listed as still open.
Which Section 3(a)(10) hijacking? I never saw any info for a 3(a)(10) with AZFL
Maybe she saw it and called them out on it. Looks like she wasn't attorney for long December 31 and March 31 still lists Fred Lehrer.
Their going to have to file something at some point and we'll all get to see who the new lawyer is. They can't hide it forever.
Been following that one for a while - everything about it is toxic!
Actually now I see a link. It is him!
based on posts I am reading it belongs to Adam Tracy but I have not researched it myself
Are these all Adam Tracy?
I'm noticing alot more companies out of Asia on the OTC again. Who are the Orlando guys? Any due diligence?
I see that - they moved it to "inactive" - I don't know enough about how all that works - but interesting you can see both active and inactive filings on a company. I learned something new for my due diligence efforts..thank you!
Why don't you call - let them know about the filing and verify for yourself they are no longer counsel.
I just looked and the report disappeared off of OTC Markets!
Very interesting point - I wonder what an attorney's rights are when a company files something falsely on OTC Markets with their name. She may not even know about it.
I did call her office and they said she is not counsel. Since the company appears to be a complete scam, they probably lied about who is counsel. They lie about everything else.
Good convo. Have a great weekend
Interesting. There has to be a middle ground. I would think if tickers got suspended too fast, the shareholders that bought in good faith would get hurt. Companies sometimes go delinquent in a state in an honest oversight. I know it would be impossible to get but I would love to see an analysis of the success of penny R/M companies vs. S-1 companies. I wonder if there would be any difference. Same question on fraud.