KMA Global Solutions International (KMAG)

[smoke_em]

IMO, not even close to KMAG and Reid's story. Reid may not be the brightest bulb in the ceiling, but he's no crook like this Bartoszek guy. KMA has and will prove it can pay it's bills from real business revenues and not selling stock.

According to the SEC's complaint, Laidlaw Energy Group and its CEO Michael B. Bartoszek sold more than two billion shares of Laidlaw's common stock in 35 issuances to three commonly controlled purchasers at deep discounts from the market price. Laidlaw did not register this stock offering with the SEC, and no exemptions from registration were applicable. Bartoszek knew that the purchasers were dumping the shares into the market usually within days or weeks of the purchases to make hundreds of thousands of dollars in profits. Laidlaw's $1.2 million in proceeds from these transactions was essentially the sole source of funds for the company's operations during most of its existence. Laidlaw, which is based in New York City, purports to be a developer of facilities that generate electricity from wood biomass.

The SEC alleges that these transactions diluted the value of shares previously purchased by common investors in the market, who were not told about the huge blocks of cheap stock Laidlaw was selling. Investors also were not aware that Laidlaw relied on these transactions to fund its operations entirely.