Tuesday, August 19, 2014 11:52:04 PM
Hanover Holdings and Magna Group Capital Management (both owned by Joshua Sason) have decimated many companies. There is a forum that lists the known companies that have done disastrous Rule 504 financings with them:
http://investorshub.advfn.com/Clients-of-Magna-Group-and-Hanover-Holdings-25550/
However, the toxic dilution and shareholder damage from such financings, which have also been offered by notorious firms such as Asher Enterprises, Fairhills Capital and Big Apple Consulting in addition to Magna and Hanover, has been well-known for years. Any company that chooses to do 504 financings with them or any other firm has to know the consequences.
Rule 504 offerings by OTC companies are almost always done illegally using bogus attorney opinion letters to have restrictive legends removed so the stock can immediately be resold to the public.
Both TJ Management and Edward Bronson's Fairhills Capital (E-Lionheart) are being sued by the SEC for the illegal scheme with Fairhills engaging 100 PK companies to participate. That case is so serious that FBI raided the Fairhills Capital office.
Magna Group/Hannover Holdings operates in much the same way as Fairhills and TJ Management. I would not be surprised to see a similar SEC action against Joshua Sason and his firms.
More info on the SEC action against Fairhills: http://investorshub.advfn.com/Clients-of-Fairhills-Capital-25493/
NEWL also did Rule 504 deals with MG Partners LTD, Magna Gibraltar Investments and more recently Ironridge Global IV, Ltd.
Ironridge's David Sims is truly infamous as a hedge fund operator who has decimated many microcap/nanocap companies. He lives on Tortola, BVI and has a long history of running afoul of securities regulations. More to come on Sims when I get some of my old links together.
Given the toxic dilution, this was predictable:
http://investorshub.advfn.com/Clients-of-Magna-Group-and-Hanover-Holdings-25550/
However, the toxic dilution and shareholder damage from such financings, which have also been offered by notorious firms such as Asher Enterprises, Fairhills Capital and Big Apple Consulting in addition to Magna and Hanover, has been well-known for years. Any company that chooses to do 504 financings with them or any other firm has to know the consequences.
Rule 504 offerings by OTC companies are almost always done illegally using bogus attorney opinion letters to have restrictive legends removed so the stock can immediately be resold to the public.
Both TJ Management and Edward Bronson's Fairhills Capital (E-Lionheart) are being sued by the SEC for the illegal scheme with Fairhills engaging 100 PK companies to participate. That case is so serious that FBI raided the Fairhills Capital office.
Magna Group/Hannover Holdings operates in much the same way as Fairhills and TJ Management. I would not be surprised to see a similar SEC action against Joshua Sason and his firms.
More info on the SEC action against Fairhills: http://investorshub.advfn.com/Clients-of-Fairhills-Capital-25493/
NEWL also did Rule 504 deals with MG Partners LTD, Magna Gibraltar Investments and more recently Ironridge Global IV, Ltd.
Ironridge's David Sims is truly infamous as a hedge fund operator who has decimated many microcap/nanocap companies. He lives on Tortola, BVI and has a long history of running afoul of securities regulations. More to come on Sims when I get some of my old links together.
Given the toxic dilution, this was predictable:
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