IJJ Corp (IJJP)

[Cassandra]

This is the DUMP part of the IJJP pump and dump scam. As with all pump and dump scams, the dump is inevitable and leaves people holding shares at far less than they paid.

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The entire premise of the business plan is to issue millions of dollars worth of free-trading stock in the six paticipating public companies to various family and friends of convicted felon Randall Gouldling, the attorney for all six companies. Goulding and his brother David are currently being sued by the SEC for civil fraud and other serious violations regarding their former PIPE fund, the Nutmeg Group.

The MMJ consortium plan requires the share recipients to sell their shares and put some of their proceeds in an escrow account overseen by another attorney sanctioned by the SEC -- Carl Duncan. If the amount in escrow is sufficient then the money is supposed to be given to the Michigan and Canadian farm operators (MPT and WOM/WOMP) who are supposed to build the farms, get licenses and cultivate/sell medical marijuana.

The "hypothetical" profits are then supposedly going to be shared with the six companies who issued the free-trading shares that were dumped on the open market to finance the farms (IJJP, TWDL, CWIR, ENTL, GEAR and HALB).

Randall Goulding abused what is supposed to be a rare exemption from registration for debt relief -- Section 3(a)(10) -- in order to have a court authorize the issuance of billions of unregistered shares as free trading. The shares were issued in exchange for so-called property interest in the yet-to-be-constructed MMJ farms.

Yesterday's publication by the Nevada SOS showing a reduction in the number of authorized shares from 3 billion to 2.5 billion shows that the change was processed as a stock split. Pope may plan to do another reverse split before issuing the remaining dollar volume of free-trading shares which have to be sold in order to finance the farms.

A reverse split followed by more dilution would wipe out the value of holdings by current shareholders. Pope did a 1 for 1000 RS in 2010 after diluting the stock into the ground with Rule 504 shares issued to Big Apple Consulting.

A correction to my post from yesterday -- addition of "not."

The reduction in IJJP authorized shares from 3 billion to 2.5 billion was processed by the Nevada SOS this morning (it was not updated as of last night), The effective date is 3/20/15, 8 days after the PR was issued. For some reason Cliff Pope processed it as a "stock split" instead of an amendment to the Articles of Incorporation.

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