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Let me understand your logic.
The revenues of this company has declined from 273,000 in 2012 to 102,000 this quarter. That's good news?
The net effect of this revenue was that it cost about $2.00 in expenses for every dollar they took in. Good job Gary!
If an enterprising investor would acquire the company for $177,000, how long would it take for him to recoup his investment? Would you make such an investment?
Now according to your logic, you would pay 5 times that amount because you see value that ordinary people like me, do not see.
BTW- While revenues were dropping, the shares outstanding went up dramatically. I guess that's one way to add value to a company. Print more shares. Keep the Kool-Aid flowing guys.
Did it ever occur to you that this company is not worth $170,000. Do you think the addition of worthless art increased the value? Wake up! If FINRA doesn't respond to the ompany's filing, it is because they are still trying to figure out this convoluted scheme whose only function is to create the illusion of value.
Does anyone have any idea why the sudden interest in DEAC? Was there a promotion initiated or news that I may have missed?
Averaging down is a sure way to lose all your money. I got out when I read the first Pump and Dump report. If you have any sound information, not hype, why this company is worth more than $50 million, I would sure love to see it. From the public info on this company, I expect to see it at .001 in short order.
It's hard to argue with your logic as most penny stock players are not smart enough to pick their exit price when making a purchase. Nevertheless, you can still buy this POS below 40 cents at many other firms, unless of course, you're as smart as you claim to be. Good luck.
Did TD Ameritrade have a grudge against AWMI or were they trying to protect their clients? Think about that and whether you're still pissed off or grateful.
Corzine
What we have here is a failure to communicate. I never questioned the court's ruling, just your statement that you spoke to the judge. And for the record, I don't want your shares.
If history is any indication, your 4 million shares will turn into 40 shares or less. This history is right there for you to see, on this site:
PREVIOUS REVERSE SPLITS:
R/S 1 for 20 Pay date=8-27-2001.
R/S 1 for 250 split Pay date=11/15/2007.
R/S 1 for 100 split Pay date=09/12/2008.
R/S 1 for 1000 split Pay date=11/03/2009.
R/S 1 for 250 split Pay date=02/17/2010.
R/S 1 for 2000 split Pay date=04/29/2010.
R/S 1 for 1000 split Pay date=06/30/2010.
You must enjoy watching the shrinkage of your holdings!
You are quite the analyst. A company with no money, 4 employees, and a new player in the highly competitive shoe business is worth $54 nillion?
You are correct. This is a real deal. But for whom? PnD steps in and brings facts to the table and you accuse them of being a scam?
They have consistently stated that they do not short stocks but you know better, right?
Who is the scammer in this scenario?
You're quite the analyst. Instead of being grateful for the message that is nothing more that providing you with information to save your ass, you attack the messenger. Very smart!
Running out of Kool Aid? I do think you'll see a dollar on this stock but first it will go down to a nickel and then be reverse split 20 to 1. And that's an optimistic view as it's worth far less than 5 cents per share.
I have no idea what you said. A "mandated balance"? It's not unusual for promoters to blame the "shorts" for the drop in the stocks they are promoting. Penny stocks cannot be shorted and the market makers that carry a short position at anytime ALWAYS have a supply source, usually the insiders or promoters.
I'll give you a reply with nothing up my sleeve. This stock cannot be shorted, except of course, by the market makers in the course of maintaining a 2-sided market.
All references to shorts doing this or that is nothing more than you guys whacking each other off. Try to find just ONE individual investor who has shorted this stock. Can't be done.
This growing company needs a functioning email address.
I also tried sending an email to the info@southernhomemedical.com and it came back with the same message posted by pumpsanddumps. That was the email address posted on the company’s website.
Some people are blind and some do real research. Got this today:
PUMPs & dumpS
Red Flagging DANGERS In The Penny Market
Southern Home Medical Equipment (SHOM) Sells Stock and Little Else
May 23, 2011: One of the current SHOMs 'er SHAMs on the street is this P & D
call Southern Home Medical Equipment. This thing is so easy to pick apart that
we are going to call it Research 101 for those subscribers who are still
learning the keys to recognizing a Pump & Dump.
Let's start with something basic. One of the first things we do when we
investigate a company is verify their contact information. SHOM doesn't even
come close. Over a period of 3 days, we sent 17 emails from 6 different email
addresses and each one bounced back with the message:
Technical details of permanent failure:
Google tried to deliver your message, but it was rejected by the recipient
domain. We recommend contacting the other email provider for further
information about the cause of this error. The error that the other server
returned was: 550 550-5.1.1 The email account that you tried to reach does not
exist. Please try
550-5.1.1 double-checking the recipient's email address for typos or
550-5.1.1 unnecessary spaces. Learn more at
550 5.1.1 http://mail.google.com/support/bin/answer.py?answer=6596
5si13453165icb.155 (state 14).
Read the message carefully. This didn't bounce back just because we couldn't
connect to their mail server. THIS EMAIL ADDRESS DOESN'T EVEN EXIST. Now is
SHOM a SHAM or is it just poorly managed? We'll accept SHOM's gratitude for
pointing out this oversight and expect that it will be corrected promptly.
Now let's talk about all this hype about their business. First rule when
conducting a Pump & Dump: Make a claim but don't substantiate it. Look at
SHAM's 'er SHOM's recent announcment.
"Southern Home Medical Equipment, Inc. (PINKSHEETS: SHOM), a holding company
providing healthcare services, staffing and durable medical equipment to
medical institutions, announced today that it has signed a letter of intent to
merge with a network of medical clinics based in the Washington, DC area. "
Do you think a real company like say, Bank of America, could come out with a
merger announcement without identifying who the merger candidate is? What's
the big secret? Are they afraid that somebody will try and verify this claim?
Somebody like say www.pumpsanddumps.com?
This company is full of ambiguity.
"The Company has contractual agreements with partner businesses located in
Charleston, Columbia, Greenville, Florence and Lake Hartwell, of South
Carolina; Nashville, Tennessee; Baltimore, Maryland; Dunwoody, Georgia; and
Philadelphia, Pennsylvania."
Really? With whom? They don't identify a single solitary partner, customer or
the nature of the agreements. Are we supposed to guess? These answers are
guarded more carefully than the nuclear launch codes.
SHOM's President, Jeffrey Sarvis, took over without ceremony or announcement
after a 2 1/2 year dormant period for the stock when there were no press
releases and very little trading in the stock, even though the company was
still presumably in business. Or so it would seem, since the line of business
did not change during the dormant period. Mr. Sarvis' resume is very nice
(ahem). He went from being a salesman at Spartan Foods, which specializes in
frozen pizzas, to being a real estate agent, to the medical staffing business.
Well that is certainly a solid and logical career path to becoming the
President of a publicly traded Medical Supply Company, isn't it? We're sure
that Mr. Sarvis can tell the difference between a hemostat and a large with no
anchovies.
SHOM's address, 50 Lawrence Street, Lyman, South Carolina 29365 is a
residential address and in fact a tiny home. We'll suggest the Mr. Sarvis
bought this one-man company for the value of pumping its stock and selling it
into the market to people like you. Indeed, the entire value of this company
is in its stock because from all evidence, it does nothing. Never has. Never
will.
Pumping and dumping is not new to this company. It went public at the end of
2006 with a couple of million shares that quickly grew to 2 billion. Then a
2008 1 for 1000 reverse split took it back down to just over 2 million shares.
Now there are over 200 million shares outstanding again and on its way back to
the billion mark in a hurry. The printing presses are alive and well.
Finally, a footnote. As we were about to send this advisory to our
subscribers, we noticed that SHOM released a new press release projecting $7
million in revenues from the newly announced merger. Apparently, SHOM was not
impressed with the results of the P & D campaign up to this point and felt that
the efforts needed to be juiced a little more. Again, no merger partner was
identified and no justification was given to the $7 million projection. We
don't know if the revenues are coming from medical services or pizza sales.
And while we're at it, a NETWORK of medical clinics with only $7 million
dollars in revenues? Shouldn't one clinic generate more than that, never mind
an entire network? Hmmmm. Sounds like SHOM's a SHAM more and more, doesn't
it?
Be careful out there!
www.pumpsanddumps.com
Just go this today. I suggest you heed this guy's advice. He has a remarkable track record in identifying scams.
Up Next!..SHOM..Or Should We Say SHAM?
A relentless promotion campaign that has been going on for days has prompted us to take a look at SHOM. What we've discovered should be enough to prompt the regulators to change the "O" in the ticker symbol to an "A".
Do not buy into this PUMP & dump without first reading our advisory, which we are working on right now and hope to release to our subscribers before the market opens on Monday.
Until then,
Be careful out there!
www.pumpsanddumps.com
You should get slapped for not reading my previous post of a message I received, since overrun by this circle-jerk you guys are conducting. WAKE UP!
3D Eye Solutions, Inc. (TDEY) Tries to Pull The Wool Over Your 3D Eyes
May 19, 2011: No sooner does the proverbial crap hit the fan on one Pump & Dump claiming to be in the 2D to 3D film conversion business, then we get 3D Eye Solutions, Inc (TDEY) claiming to be in pretty much the same business. This time we're talking about a film company in that entertainment mecca known as Lakewood, Florida.
Last week, we gave you an advisory about Writers' Group Film Corp. (WRIT) and the fact that insiders were unquestionably dumping into an aggressive pump involving several paid touters. On Tuesday, a private investor with a successful history of going after scammers announced a lawsuit against WRIT and those very same insiders, alleging fraud, amongst other causes of action.
Today we look into TDEY whose pump began shortly after Wednesday's close, and we expect much more to come before Thursday's open. It took us exactly 3 minutes of research before we started chuckling.
Let's forget about the company's lame website which says very little about the no-name product line and absolutely nothing about the history or qualifications of management. Let's instead focus on the newly anointed (by his purchase of the shell) Chairman of 3D Eye Solutions, Marc Jablon. Now where have you heard that name before? We'll give you a minute.
"...Dum dee dum dum...tra la la la la..."
Did you remember? Well in case you didn't, Marc Jablon was an integral part of the CyberKey (CKYS) Scam of 2006 and 2007. This company was pumped on the claim that it had a $25 million purchase order from the Department of Homeland Security for its computer data security products. Problem was that the DHS had never heard of CyberKey. According to the SEC, Jablon and his partners, who were running a boiler room operation at the time in, you guessed it, Lakewood, Florida, knew that this purchase order was phony, but that didn't stop them from using as many as 50 callers to cold call brokers and push them to buy stock for their clients. Jablon also had a hand in conjuring up CyberKey's phony press releases. The stock was eventually suspended by the SEC and charges of securities fraud were filed by the SEC against Jablon and his partners who netted over $7 million in ill-gotten gains. You can view the SEC Complaint by clicking here. The case is going on as we speak in Orlando District of Federal Court where the SEC is seeking a permanent ban on Jablon from the securities markets. Jablon has also been sued on at least 3 other occasions for securities related incidents by claimants. He has been accused of committing RICO offenses at least once.
Over the past 10 years, Jablon has been hired to oversee Pump & Dumps for Ivi Communications (IVII), Made in America Entertainment (MAEI), Diamond Powersports (DPWS), and the now delisted Homeland Integrated Security Systems (HISU).
Ladies and gentlemen we have a man with a history of Pump and Dump schemes here who is now in dutch with the SEC. Are you now to believe that Mr. Jablon has suddenly decided to run an honest business with TDEY? If so, good luck to you. We'll just sit back and watch the carnage.
Be careful out there.
The guy/gal who publishes pumpsanddumps.com has save me a small fortune as he issues alerts on scams in the penny-stock markets.
I almost jumped into this POS, but thankfully, will pass on this opportunity.
If you're holding what I think you're holding, you may let go when you see what I just received from pumpsanddumps.com.
3D Eye Solutions, Inc. (TDEY) Tries to Pull The Wool Over Your 3D Eyes
May 19, 2011: No sooner does the proverbial crap hit the fan on one Pump & Dump claiming to be in the 2D to 3D film conversion business, then we get 3D Eye Solutions, Inc (TDEY) claiming to be in pretty much the same business. This time we're talking about a film company in that entertainment mecca known as Lakewood, Florida.
Last week, we gave you an advisory about Writers' Group Film Corp. (WRIT) and the fact that insiders were unquestionably dumping into an aggressive pump involving several paid touters. On Tuesday, a private investor with a successful history of going after scammers announced a lawsuit against WRIT and those very same insiders, alleging fraud, amongst other causes of action.
Today we look into TDEY whose pump began shortly after Wednesday's close, and we expect much more to come before Thursday's open. It took us exactly 3 minutes of research before we started chuckling.
Let's forget about the company's lame website which says very little about the no-name product line and absolutely nothing about the history or qualifications of management. Let's instead focus on the newly anointed (by his purchase of the shell) Chairman of 3D Eye Solutions, Marc Jablon. Now where have you heard that name before? We'll give you a minute.
"...Dum dee dum dum...tra la la la la..."
Did you remember? Well in case you didn't, Marc Jablon was an integral part of the CyberKey (CKYS) Scam of 2006 and 2007. This company was pumped on the claim that it had a $25 million purchase order from the Department of Homeland Security for its computer data security products. Problem was that the DHS had never heard of CyberKey. According to the SEC, Jablon and his partners, who were running a boiler room operation at the time in, you guessed it, Lakewood, Florida, knew that this purchase order was phony, but that didn't stop them from using as many as 50 callers to cold call brokers and push them to buy stock for their clients. Jablon also had a hand in conjuring up CyberKey's phony press releases. The stock was eventually suspended by the SEC and charges of securities fraud were filed by the SEC against Jablon and his partners who netted over $7 million in ill-gotten gains. You can view the SEC Complaint by clicking here. The case is going on as we speak in Orlando District of Federal Court where the SEC is seeking a permanent ban on Jablon from the securities markets. Jablon has also been sued on at least 3 other occasions for securities related incidents by claimants. He has been accused of committing RICO offenses at least once.
Over the past 10 years, Jablon has been hired to oversee Pump & Dumps for Ivi Communications (IVII), Made in America Entertainment (MAEI), Diamond Powersports (DPWS), and the now delisted Homeland Integrated Security Systems (HISU).
Ladies and gentlemen we have a man with a history of Pump and Dump schemes here who is now in dutch with the SEC. Are you now to believe that Mr. Jablon has suddenly decided to run an honest business with TDEY? If so, good luck to you. We'll just sit back and watch the carnage.
Be careful out there.
The guy/gal who publishes pumpsanddumps.com has save me a small fortune as he issues alerts on scams in the penny-stock markets.
I almost jumped into this POS, but thankfully, will pass on this opportunity.
"Adamantly denying the allegations" is pretty lame and seems to be an attempt by the CEO to keep you guys in tow.
Instead of adamantly denying, why not address the allegations, one by one? Sharp was very specific in his accusations and Diaz is intentionally being evasive, as though his denial will carry the day.
Every crook denies the crime. Whether it's Richard Nixon's cover-up, or the IMF chief caught with his pants down, so simply making such a statement is tantamount to an admission of guilt, unless of course, the specific charges are rebuked with factual information, one by one. Perhaps Diaz will do so in court but given the slow "wheels of justice", it could be years before a case comes to trial. How many of you yahoos will have any money left by then?
You should be grateful that there is someone out there looking out for your collective asses.
You think that a guy who got a con artist put away for 32 months is a joke? http://michael-osborn.blogspot.com/
You think that a guy who got a $1.6 million settlement is a joke? http://anikokaye.blogspot.com/
I think the joke’s on you pal.
This guy Sharp made his profile available for all to see. I think his motive was not to show that “he is an idiot” but more likely that he is not one to take lightly.
As you will learn in due time, most legitimate companies do not promote their stocks. Of course, they do put out press releases as they are obligated to do if there is a material development with the company, and that may have an effect on their stock.
If you read the fine print on the tout sheets, the promotion is usually paid for by s 3rd party who does not identify himself. The reason he spends money to promote the stock is not to make money for you yahoos, but to sell shares that he owns.
He's the DUMPER and you guys are the PUMPERS.
Which one of those classifications will win in the end?
DD that!
Post Unavailable
Additional Information
http://www.pumpsanddumps.com/2011/05/dont-buy-this-piece-of-sipp-sipc-may-9.html#more
from www.pumpsanddumps.com
Here's your answer Epic Stocks:
Avatar Ventures (AVVC) Into The Pump & Dump Business
April 27, 2011: P.T. Barnum was credited with the line, "There's a sucker born every minute". That was over 100 years ago. We want to know how he knew that one day there would be Avatar Ventures.
OK, seriously, what is wrong with you people? Are you really going to let a bunch of baseless pumping conducted by PAID touts be the ruin of you? Yes, some have made money, but this ponzi/pyramid scheme is about to come tumbling down. Come on people! How many times do we have to tell you? RESEARCH!
Let's start with the 10-Q, filed in March and showing $16 in the bank as of January 31, 2011. Get that? 16 bucks. And zero revenues. Z-E-R-O. This is a company that was incorporated in 2006 and has done NOTHING in 5 years! It was designed to be a pump and dump!
The company's one and only press release EVER was to announce a private placement of stock @ $1.30. Did you let this fool you? Sure it was @ $1.30 because a benchmark was needed to be set for the fools to buy this thing. The people who bought the stock @ $1.30 are conducting what is known as a "gypsy swap". These same people bought millions of shares @ one-tenth of a penny and are now selling that stock to you @ better than a buck. Generously, they'll take $500,000 worth of 144 paper with the money they plucked out of your pockets, but they still come out millions ahead. Did you notice that the announcement said the equity was raised by a non-US corporation? How about the fact that until recently, this thing was based in China. That is non-US, right? Now this zero revenue, zero product company which may have $500,000 in the bank suddenly has a market cap of $86 million. Well done dupes! You really helped Stocks Gone Wild and Epic Stock Picks and those other half dozen paid touts earn their money.
And how about the fact that they've now moved their "principal executive corporate office" to 27281 La Ramblas, #200, Mission Viejo, California. Our research shows that address to be a virtual office, housing dozens of companies. In other words, there are no operations. Anywhere! Well except for the insiders' brokerage accounts.
Did you look at the website? Click under "Business Apps". How many products do you see? That's right, none! In fact, the entire website says nothing but a bunch of general observations. We don't know what they're working on, if anything, or when they might generate revenues.
What is also missing on the website is any background on the officers or directors, most notably, newly appointed President, Jack Garland Stevenson on whom we could not find a thing, certainly not anything that qualifies him to be the officer and a director of a publicly traded company.
We'll ask again. What the heck is wrong with you people?
Be careful out there.
from www.pumpsanddumps.com
I'm still here feeling sorry for you assholes.
Just received this by email:
PUMPs & dumpS
Red Flagging DANGERS In The Penny Market
A Very Happy Mother's Day to All Our Lady Subscribers Who Are Moms! You Rock!
Now on to business....
On Thursday at 11:00am ET, several touts began to pump SIPC to their subscribers. At 11:05am we released our alert advising of the intent to dump SIPC stock onto the public. We have received so many emails thanking us for saving investors, that for the first time ever, we are taking credit for the failure of a PUMP & dump scheme. On Thursday, a total of only $88,000 worth of stock traded and today only $8,000 worth of SIPC stock traded as most of the investing public heeded our advice. We'll suggest that insiders did not sell enough stock to cover the cost of the promotion.
We did a lot of digging on this company today and what we found out will astound you. We will release the results of our investigation on SIPC in an email to our subscribers at 10:00am ET Monday. Spread the word to anybody you know who's talked about this stock and help us put an end to PUMP & dump schemes.
Until then,
Be careful out there!
www.pumpsanddumps.com
It amazes me that there is no shortage of sheep to be sheered. Don't you yahoos realize that there are 2 sides to a pump & dump scenario? You need "pumpers" like NicPlatoNic and the other paid touters, and you need dumpers like the insiders behind the scenes that keep feeding the flock.
Did you ever stop and wonder where all the shares are coming from that you guys are buying?
And for the record, I am not short this POS but would love to be if I could figure out how to do it.
Wake up guys. If this stock could be shorted, it would not qualify for a pump & dump scam.
BTW - I'm a big fan of pumpsanddumps.com that issued a warning on LEXG last week and again was right on the money.
It sure looks like the pumpsanddumps.com article was right on the money and the pumpers have run out of steam.
There is a bright side to this development. This shell corporation is now valued at $77 million instead of $95 million, a number much closer to reality.
Your stomach is not the problem, your brain is. Please don't let me confuse your logical mind but the facts posted in that email that I in turn posted here offers FACTS about this company, where they work, (a virtual office) how much money they had in the bank just 3 months ago ($16), no visible source of revenue and a market cap of $95 million.
Sure sounds like the company's only business is printing stock certificates. Not a bad business considering the circle jerk you guys engage in trying to convince each other how smart you all are in analyzing the activity of a Bulletin Board stock that is rife with shady promoters.
I love this country!
You must be some nitwit. The message spells out what's wrong with this company and you come back with some gibberish about people shorting the stock?
You deserve what you'll get, an expensive education.
Just received this alert on AVVC.
Avatar Ventures (AVVC) Into The Pump & Dump Business
April 27, 2011: P.T. Barnum was credited with the line, "There's a sucker born every minute". That was over 100 years ago. We want to know how he knew that one day there would be Avatar Ventures.
OK, seriously, what is wrong with you people? Are you really going to let a bunch of baseless pumping conducted by PAID touts be the ruin of you? Yes, some have made money, but this ponzi/pyramid scheme is about to come tumbling down. Come on people! How many times do we have to tell you? RESEARCH!
Let's start with the 10-Q, filed in March and showing $16 in the bank as of January 31, 2011. Get that? 16 bucks. And zero revenues. Z-E-R-O. This is a company that was incorporated in 2006 and has done NOTHING in 5 years! It was designed to be a pump and dump!
The company's one and only press release EVER was to announce a private placement of stock @ $1.30. Did you let this fool you? Sure it was @ $1.30 because a benchmark needed to be set for the fools to buy this thing. The people who bought the stock @ $1.30 are conducting what is known as a "gypsy swap". These same people bought millions of shares @ one-tenth of a penny and are now selling that stock to you @ better than a buck. Generously, they'll take $500,000 worth of 144 paper with the money they plucked out of your pockets, but they still come out millions ahead. Did you notice that the announcement said the equity was raised by a non-US corporation? How about the fact that until recently, this thing was based in China. That is non-US, right? Now this zero revenue, zero product company which may have $500,000 in the bank suddenly has a market cap of $86 million. Well done dupes! You really helped Stocks Gone Wild and Epic Stock Picks earn their money.
And how about the fact that they've now moved their "principal executive corporate office" to 27281 La Ramblas, #200, Mission Viejo, California. Our research shows that address to be a virtual office, housing dozens of companies. In other words, there are no operations. Anywhere! Well except for the insiders' brokerage accounts.
Did you look at the website? Click under "Business Apps". How many products do you see? That's right, none! In fact, the entire website says nothing but a bunch of general observations. We don't know what they're working on, if anything, or when they might generate revenues.
What is also missing on the website is any background on the officers or directors, most notably, newly appointed President, Jack Garland Stevenson on whom we could not find a thing, certainly not anything that qualifies him to me the officer and a director of a publicly traded company.
We'll ask again. What the heck is wrong with you people?
Be careful out there.
www.pumpsanddumps.com
What else would you expect the CEO to say? Did you see the threatening emails or are you just taking his word for it? My guess is that he's full of crap and won't do anything about it because he doesn't want to stir the pot.
The truth does not only hurt but it is also a defense.
Anytime I see a CEO posting on his stock's bulletin board, I know it's a scam. That's not a red candle you're seeing zigzagman, THAT'S A RED FLAG!
Just received this email.
PUMPs & dumpS
Red Flagging DANGERS In The Penny Market
Darryl Reed's Next Generation In Pumps and Dumps (NGMC)
April 19, 2011: It appears that Darryl Reed's reinvention of Next Generation
Media Corp (NGMC) is complete. That company disappeared from the face of the
Earth right after it's self-proclaimed "national leader in the multi-billion
dollar direct mail industry and in franchising" [sic] subsidiary reported
revenues of almost $2 million for the quarter ending September, 2007 and nine
months revenues of over $6 million. After that late 2007 press release, there
was nary a word from the company for almost 4 years and the stock was allowed
to drift into sub-pennyland. No word about what happened to the multi-million
dollar subsidiary. No word about the sudden 1 for 1000 reverse split. Nothing.
Nada. Zilch. Unless of course you happened to look at the SEC filings. Funny
how when stocks are being pumped you can find press releases galore but when
there's no money to be gained by the insiders, you can hear crickets as
preparations are underway for the next scheme.
So now the old shareholders are zeroed out and the insiders issue themselves a
nice chunk of 3.5 million shares of free-trading S-8 stock. What's really
hysterical here is that, as we speak, the shills on the bulletin boards are
trying to convince dupes that there is only 60,000 of free trading stock and
ignoring the fact that over 300,000 shares traded yesterday.
And now, "Ta Da", NGMC is in the energy business. Just like that, Darryl went
from being qualified as a CEO of a direct market business to being qualified as
the CEO of an energy company. And they've purportedly acquired 10 Producing Gas
Wells in Knox County, Kentucky (according to yesterday's press release) for
$500,000. Let's look at that deal. They first gave the world an inkling of
this acquisition back on November 22 when in their 10-Q filing, the company
said,
"The Company has acquired an option to acquire its first properties in Knox
County, Kentucky for $1,575,000, and is actively trying to raise the capital it
will need to complete that acquisition."
Uh.......was there a clearance sale? How did this deal go from $1,575,000 to
$500,000? That's one.
Now the statement in the 10-Q says they are looking for funding, which is
understandable since that same filing claims that the company is over $4.5
million in debt and has a working capital deficit of almost $900,000. But then
where did NGMC get the $500,000? There's certainly nothing in the filings that
suggest the company raised any money. That's two.
Now let's look at the acquisition, which effectively turns the operation of
Knox Gas, LLC into a subsidiary of NGMC. This company has been passed around
kids. Over the last decade, the acquisition of Knox Gas, LLC has been hyped by
Endeavour International Corporation, Touchstone Resources, and Cygnus Oil and
Gas who simply walked away from its ownership, giving it to Touchstone. All
three previous owners of the company recorded financial losses through their
ownership of Knox Gas. That's three.
Yahoo reports that there are 11.47 million shares outstanding with a float of
6.46 million. We thing it's more by now but we have a tough time justifying
even an $11 million market cap for a company that is $4.5 million in debt and
with assets that lose money.
The shills on the message boards are in place hyping away; the insiders have
their free-trading stock; and, the propaganda machine has woken from the dead.
We see this setting up as something bad for the general public and we think
that plans are in place to start an email/touting promotion campaign any minute
now. It wouldn't be Darryl's first time at this stunt. He's done it with this
company before during its previous incarnation as Next Generation Media and
he's involved with another sad story, Seawright Holdings (SWRI), which by the
way, looks like it's setting up for another scheme in the near future.
Be careful out there.
www.pumpsanddumps.com
Looks like Pumps n Dumps is right!