Fund.com Inc (FNDM)

[$hellKing]

Nice move FNDM. Came very close to grabbing 10k at .20 but damn I passed. I was DDing and saw Rineon Group INc(symbol RI-GI) Mentioned with FNDM. Anyone think RI GI can make a splash like FNDM? Im wondering if Rineon will come back to life too...? I grabbed a few just in case. You never can know when the next 20 bagger will take place.



Amalphis Group, Inc. is a subsidiary of Rineon Group, Inc.

http://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=60952394

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Wolfe & Associates (“Jewett Schwartz”), a six-
member CPA firm based in Hollywood, Florida.
4
Hlavsa resides in the neighboring community of
Fort Lauderdale, and previously lived in the
neighboring community of Hallandale Beach.
See
In re Stillwater Capital Partners, Inc.
Litigation
, No. 11 Civ. 2737-SAS (S.D.N.Y.), doc. no. 5.
76.
The bona fides of the Amalphis/Allied Tr
ansaction are further suspect by reason
of the failure of any party to assert claims aris
ing from the later failure
of Gerova. Strikingly,
while numerous Stillwater investors and Class me
mbers have stepped forward to seek recovery
for their losses, and the unders
igned counsel have received mo
re than two dozen separate
inquiries from investors in
Stillwater and Gerova,
no litigation
has been initiated by Rineon or
any other party – despite their receipt of the sa
me, now worthless, restricted stock received by
Stillwater investors.
2.
The Wimbledon Transaction
Also Involved Insider Dealing
77.
The Wimbledon Transaction similarly invol
ved a related party
transaction, which
secretly benefited Gerova’s insi
ders. As noted above, according to
the January Proxy Statement,
the Wimbledon Funds were “managed by Weston Ca
pital Asset Management LLC, a Delaware
limited liability company.” Ex. A, at i.
78.
Undisclosed in the January Proxy Statement
??
as well as the Company’s other
Class Period statements
??
in November 2009, a publicly-trade
d company named Fund.com Inc.
(“Fund.com”) had “entered into a non-
binding letter of intent to ac
quire an equity interest in
Weston Capital Management LLC.” F
und.com Form 8-K, filed Jan. 26, 2010.
5


80.
Fund.com was a penny-stock company that lost 98% of its market capitalization
between mid-2010 and June 2011, when trading was halted. On December 3, 2010, Fund.com
announced the restatement of its financial st
atements for 2007, 2008 and 2009. Fund.com Form
8-K/A, filed Dec. 3, 2010. For 2008 and 2009, Fund.com’s auditor was Jewett Schwartz,
see
Fund.com Form 10-K, filed Nov. 30, 2009, which was
the same six-member CPA firm that also
audited the assets acquired by Gerova in the Amal
phis/Allied Provident Tr
ansaction and is based
in Hollywood, Florida, close to Hlavsa’s residence.



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1.
The Amalphis/Allied Provident
Transaction Involved Gerova Insiders
71.
With respect to the Amalphis/Allied
Provident Acquisition, the Company
represented that Amalphis was the parent compa
ny of Allied, a “specialty reinsurance company”
domiciled in Barbados, valued at $57 million.
The Company disclosed that Amalphis was
purchased from Rineon, an inactive holding Company.
72.
Absent from the Company’s Class Period
statements, however, was the fact that
Gerova director de Waal, and Gerova CFO Hlavsa
were two of the five di
rectors of Rineon at the
time, and that Hlavsa was thereafter Rineon’s
“sole director and the Company’s Principal
Executive Officer and Principal Financial Offi
cer” until late 2010. Rineon Form 10-K, filed
May 24, 2010, at 58; Rineon Form 8-K, filed Nov. 8, 2010.
73.
In addition, Gerova Chairman and Pres
ident Hirst controlle
d Rineon through
Intigy Absolute Return Ltd. (“Intigy”), an inve
stment fund managed by Axiat, Inc., of which
Hirst was President and CEO.
See
Rineon Form 8-K, filed May 14, 2009, at 4, Ex. 10.2, at 20.
74.
According to a Form 8-K filed by Ri
neon, Intigy’s $36 million investment was
used by Rineon to acquire Amalphis/Allied Provide
nt from NatProv Holdings Inc. in May 2009.
Prior to Intigy’s investment in Rineon, Rineon
was “an inactive publicly traded Delaware
corporation” whose stock traded
over the counter. Rineon Fo
rm 8-K, filed May 14, 2009, at 4,
Ex. 10.2, at 20. Simply put, Hirst and his fellow Ge
rova insiders had Gerova pay $57 million to



http://securities.stanford.edu/filings-documents/1046/GFC00_01/20111026_r01c_1102275.pdf



WHEREAS, pursuant to a stock purchase agreement between NatProv and Rineon, dated as of May 14, 2009 (the " Stock Purchase Agreement "), NatProv agreed to sell and Rineon agreed to purchase for $36,000,000 in cash, an aggregate of 1,985,834 Ordinary Shares of the Company, representing approximately 81.5% of the 2,437,500 issued and outstanding Ordinary Shares of the Company owned by NatProv;

http://www.techagreements.com/agreement-preview.aspx?title=Rineon%20Group%20-%20Shareholders%20Agreement%20Between%20Rineon%20Group,%20Inc.,%20Natprov%20Holding%20Inc.%20And%20Amalphis%20Group%20Inc.&num=664932